SME Corp Malaysia’s efforts to help the small and medium enterprises (SMEs) get better access to loan facility have borne fruit, said chief executive officer Datuk Hafsah Hashim.
She said the corporation worked closely with the Association of Banks in Malaysia and Association of Islamic Banking Institutions Malaysia, and via these engagements, it was able to reach out to the commercial and development banks.
Hafsah added through constant engagement with the banks, SME Corp had organised pitching sessions, whereby the agency would coach the SMEs before they meet the bankers. The pitching sessions and coaching exercises had boosted the SMEs’ success rates in terms of loan applications, and this in turn had boosted their confidence.
Meanwhile, she urged the SMEs to make use of the Internet and technology to stay competitive in the market.
On the recent economic instability, Hafsah said the SMEs, of which 80 per cent are domestic base, were not exposed to the international market and typically when it came to an economic crisis like this, they were quite agile and able to actually turn around, change and adapt quickly to suit the global economic condition.