SME Bank XCESS 2024 Links Malaysian SMEs To 12 Countries, Paving The Way For Global Growth

KUALA LUMPUR: 17 August 2024 – SME Bank has successfully launched SME Bank XCESS 2024, a flagship event designed to propel Malaysian small, and medium enterprises (SMEs) into the global market. The event facilitated connections between local businesses and 24 buyers from 12 countries, offering a platform for business matching, networking, and showcasing opportunities that pave the way for international growth and expansion.

The event was officiated by YB Datuk Ewon Benedick, Minister of Entrepreneur Development and Cooperatives (MECD), who underscored the crucial role SMEs play in the national economy. In his opening remarks, Datuk Ewon noted, "In 2023, SMEs accounted for 39.1 per cent of GDP, contributing RM613.1 billion in value-added, up from 38.6 per cent the previous year. The government is fully committed to nurturing an ecosystem that supports the growth of SMEs. SME Bank XCESS 2024 exemplifies our commitment to creating a comprehensive and supportive platform for SMEs to innovate and thrive, ensuring that they remain the backbone of our economy and continue to drive significant national growth."

Datuk Dr. Mohammad Hardee Ibrahim, SME Bank Relief Group President/Chief Executive Officer, underscored the bank's mandate to holistically support SMEs at every stage of their growth journey. He remarked, " SME Bank XCESS 2024 represents a significant milestone in our mission to empower SMEs beyond borders and significantly enhance their export capabilities, enabling them to compete and thrive on a global scale. Today, we are connecting local entrepreneurs with 24 buyers from 12 countries; Brazil, Germany, Saudi Arabia, UAE, South Korea, India, China, Taiwan, Hong Kong, Vietnam, Cambodia, and Indonesia. In partnership with Malaysia External Trade Development Corporation (MATRADE), we are creating exceptional opportunities for these entrepreneurs to expand their reach internationally. This initiative highlights our commitment to strengthening the SME sector, enabling it to enter and succeed in global markets, which is vital for Malaysia’s continued economic growth.

The event also marked the exchange of two significant agreements. The first agreement exchange was between the Centre for Entrepreneur Development and Research (CEDAR) and Malaysian Rating Corporation Berhad (MARC), which aims to enhance advisory services for SMEs by offering essential financial guidance and developmental resources to support their expansion, optimise operations, and improve decision-making processes. The second agreement exchange, between SME Bank and Telekom Malaysia (TM), focuses on accelerating the digital transformation of SMEs by equipping them with advanced financial solutions and digital services.

"These partnerships are part of our broader strategy to extend our reach to unserved SMEs," added Datuk Dr. Mohammad Hardee Ibrahim. "They represent a significant leap forward, not only in terms of expanding market reach but also in enhancing the digital and financial capabilities of our SMEs to stay competitive in today’s fast-paced, globalised economy."

SME Bank XCESS is SME Bank's annual programme dedicated to fostering growth and value creation within the SME ecosystem, extending beyond just financing services. Over the past three years, SME Bank XCESS has attracted more than 140,000 SME participants, both virtually and in-person, and facilitated over 1,700 business meetings, with the support of 142 strategic partners. SME Bank XCESS 2024 continues this tradition, backed by strong strategic partners including the Ministry of Entrepreneur Development and Cooperatives and its agencies, as well as organisations such as MATRADE, Malaysian Investment Development Authority (MIDA), EXIM Bank, Halal Development Corporation, CelcomDigi, Unifi Biz, and MARC.

In addition to SME Bank XCESS, SME Bank offers global expansion opportunities through the Business Export Program (BEP), organised with the support of MECD and MATRADE. This initiative provides a dynamic platform for Malaysian entrepreneurs to showcase their innovative products and services on the international stage. Furthermore, SME Bank extends financing through the Jaguh Serantau scheme, which has a RM300 million allocation. This scheme is tailored to support Bumiputra SMEs with the potential to become regional champions by offering diverse financing options, along with a profit rate subsidy provided by the Government.

SME Bank remains dedicated to its mandate of driving national economic growth by providing not only financial support but also training and development programs for SMEs. In alignment with the Madani Economy Framework, SME Bank aims to elevate the innovation and venture ecosystem while promoting export orientation for SMEs, thus raising the ceiling for SMEs' potential and success. For more information about SME Bank's initiatives, visit www.smebank.com.my, follow us on Facebook, or contact our Customer Contact Centre at 603-26037700.