CGC honours partners at 29th FI/DFI and SME Awards 2023

The Star

Credit Guarantee Corporation Malaysia Berhad (CGC) hosted its 29th FI/DFI & SME Awards 2023 in Kuala Lumpur on Thursday (July 18) to acknowledge its financial institutions (FIs), development financial institutions (DFIs) and non-FI partners for their commitment and support in helping SMEs to be more resilient.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00Credit Guarantee Corporation Malaysia Behat, CGC, hosted its 29th FI, DFI and SME Awards

00:092023 in Kuala Lumpur on Thursday.

00:12The awards ceremony was held to acknowledge its financial institutions, or FIs, development

00:17financial institutions, or DFIs and non-FI partners, for their commitment and support

00:22in helping SMEs to be more resilient.

00:25The event was officiated by Deputy Finance Minister Lim Hui Ying.

00:31In her keynote address, Lim called on the financial ecosystem to collectively address

00:35the challenges faced by micro, small and medium enterprises, or MSMEs.

00:40SME development remains a central mission for the government.

00:45Our goal is to support the growth of highly competitive and resilient SMEs.

00:50I commend CGC for its unwavering commitment to meeting the financing needs of MSMEs.

00:57CGC plays a pivotal role in fostering the growth and sustainability of MSMEs by providing

01:05access to financing and facilitating guarantees.

01:09I call for CGC to continue the collaboration with FIs and DFIs, related agencies and partners,

01:18leveraging the strengths of the MSMEs' ecosystem to support the key national agenda

01:24and foster an entrepreneurship culture across all segments of Malaysia.

01:29Meanwhile, CGC Chairman Datuk Mohamad Hussain said that the sustainability of the nation's

01:35MSME financing ecosystem is a shared responsibility.

01:39The focus of CGC for the past two years, therefore, has been on two parallel tracks.

01:47In playing this counter-cyclical role, one is to continue to support the MSMEs in navigating

01:55the post-pandemic challenges, but at the same time, we must recognise that there are new

02:02growth areas emerging, such as the gig economy, the high-tech, the ESG link, the agro-industry,

02:14and we must continue to support these industries to grow and take advantage of the new demand

02:20for their products.

02:22The sustainability of the SMME performance financing ecosystem is a shared responsibility

02:31among the FIs, the DFIs, and CGC.

02:36The Government's support has been most instrumental, and I express gratitude to the Ministry of

02:42Finance and related agencies for making funds available to MSMEs through various channels

02:50during that period.

02:52A total of 16 awards were presented to the winners, consisting of 9 awards for leading

02:57FIs and DFIs, 6 awards for SMEs, and 1 award for a non-FI partner.

03:17Among the winners were OCBC Bank Malaysia Berhad, CIMB Islamic Bank Berhad, and Alliance

03:24Bank Malaysia Berhad.

03:26It means a lot to us, especially to my colleagues who strive to make a difference to the SMEs,

03:32and this award, the various awards that is given to us, and first of all I have to thank

03:36CGC for recognising us, because it's something that shows that we are on the right path in

03:43supporting the SMEs in Malaysia.

03:46And hopefully this award will also spur us to have more innovations and innovative products

03:52to support the growth of SMEs.

03:54CIMB has been there for the SMEs for many, many years, and winning such awards also reinforces

04:06us being there as partners to all SMEs in Malaysia.

04:11It shows that even throughout the pandemic, we were committed to stay with them and help

04:16them grow, and we are happy to say that a lot of the SMEs with CIMB have thrived.

04:25And so this award actually is a reflection of all that, and we are very, very proud.

04:29It's a good recognition, I appreciate the recognition from CGC for our contribution,

04:35and especially in Malaysia to help micro-SMEs to actually grow their business.

04:40So we are here to continue to support the SMEs in Malaysia in terms of the financing

04:45requirement and also their business solutioning.

04:48Well, it's a very good testimony for us for this win, we will continue to actually

04:53serve the SMEs in Malaysia.

04:56Also in attendance at the event were CGC President and CEO, Datuk Mohamad Zamri Mohamad Ishak,

05:02Star Media Group Berhad CEO, Chan Seng Fat, and Chief Business Officer, Lydia Wang, along

05:07with over 300 industry leaders.

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