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SME Corp wants capacity expansion, tax incentives

[ 22-10-2015 ]
SME Corp wants capacity expansion, tax incentives
Hafsah: ‘The proposals are aimed at assisting SMEs tide over the current economic situation and sustain their business.’

Hafsah: ‘The proposals are aimed at assisting SMEs tide over the current economic situation and sustain their business.’

KUALA LUMPUR: SME Corp Malaysia (SME Corp) has submitted its Budget 2016 wish list, highlighting capacity building, tax incentives and assistance for SMEs to go abroad, among others, its chief executive officer, Datuk Hafsah Hashim said.

The central coordinating agency for SMEs hoped that SMEs would be able to overcome the challenges affecting their business next year, she added.

“The proposals are aimed at assisting SMEs tide over the current economic situation and sustain their business,” she told reporters at the Initial Public Offering (IPO) Seminar 2015 - Taking SMEs to the next level of growth through Stairway to Listing here.

Hafsah said that as getting access to funding and taking SMEs public were important for SMEs, SME Corp would enhance their understanding of the IPO process and benefits.

Earlier, in his speech, SME Corp chairman Tan Sri Mohamed Al Amin Abdul Majid said while the domestic economy was affected by the declining global stock market resulting from lower oil price and the slowing China and the US economies, Malaysia’s economy remained competitive.

He urged the SMEs to look at the current situation as an opportunity to prepare themselves for the economic recovery, which is expected to start gradually in 2017 or 2018.

“Therefore, this IPO Seminar will provide an early preparation for SMEs to integrate themselves into a higher value chain, such as listing on Bursa Malaysia,” he said.

The fourth series of ‘Stairway to Listing’ seminar was jointly organised by SME Corp, Bursa Malaysia, MIDF Amanah Investment Bank Bhd and the Bumiputera Agenda Coordinating Unit. Over 150 SMEs attended the seminar, which was aimed at supporting the government's agenda in helping the SMEs raise their capital and profile.

Also present were 60 SME winners of the Enterprise 50 Awards (present and past), which have been listed on Bursa Malaysia, 46 of them on the Main Market and 14 on the ACE Market. This year, three companies, which participated in the Stairway to Listing session, had been listed on the local exchange with their market capitalisation totalling almost RM500mil.