CGC Awards 2024 Celebrates 30 Years Of Empowering MSMEs
KUALA LUMPUR, Aug 1 (Bernama) -- Credit Guarantee Corporation Malaysia Bhd (CGC) marked a major milestone with the 30th edition of the CGC Awards, celebrating three decades of dedication to the growth of Malaysia’s micro, small and medium enterprises (MSMEs) and the broader financial ecosystem.
In a statement today, CGC said the awards honoured the outstanding contributions of financial institutions (FIs), Islamic financial institutions (IFIs), development financial institutions (DFIs), strategic partners, government agencies, and award-winning MSMEs.
Bank Negara Malaysia Governor Datuk Seri Abdul Rasheed Ghaffour underscored the importance of supporting SMEs to remain competitive and resilient in an increasingly dynamic economic environment.
“CGC and the financial industry play an important role in helping SMEs transform through automation, digitalisation, and sustainable practices,” he said in his speech at the awards ceremony held here yesterday.
Meanwhile, CGC chairman Datuk Mohammed Hussein emphasised that resilience in business starts with hands-on leadership and deep operational understanding.
“Resilience often begins with strong, hands-on leadership and a deep understanding of a business’s internal dynamics, customer needs, supply chain, and the broader ecosystem.
“Business sustainability hinges on management’s ability to navigate these interdependencies -- a competency that comes from active participation, not passive ownership,” he said.
As inclusivity remains a key mandate for CGC, Mohammed said the corporation will continue to encourage more substantive and participative forms of business partnerships between races and communities across the economic supply chain.
Its president and chief executive officer Datuk Mohd Zamree Mohd Ishak highlighted the crucial role of MSMEs in driving national growth.
“Malaysian MSMEs are the backbone of our economy, and CGC is proud to be entrusted with the mandate to support and empower them.
“This annual CGC Awards Ceremony is our way of acknowledging the invaluable support from our strategic partners, and of celebrating the achievements of Malaysia’s competitive and dynamic MSMEs,” he said.
Mohd Zamree reaffirmed CGC’s commitment to advancing financial inclusion and ensuring that all deserving MSMEs receive the support they need to thrive, especially in today’s uncertain business environment.
This year, CGC said a total of 28 awards were presented across three categories, celebrating not only performance but also purpose-driven partnerships and ecosystem-wide progress.
To reflect the evolving business landscape, CGC enhanced the categories to include the Merdeka Awards, honouring businesses that lead with substantive partnerships between races and communities, as well as two new categories to honour new strategic partnerships and innovation excellence.
Furthermore, under the CGC Developmental Programme Award, a distinct category was established to recognise three outstanding MSME winners who achieved the highest overall percentage increase in sales turnover upon completing the 24-month CGC Developmental Programme: Access New Markets.
Additionally, two categories -- Successful Contractors (G1 and G2) and Successful Contractors (G3 and above) -- were presented, with a total of six winners recognised for their successful contract delivery and demonstrable business growth.
Among the winners under the Top FI Partner category were CIMB Islamic Bank Bhd, Alliance Bank Bhd, and Standard Chartered Bank Malaysia Bhd, while the Merdeka Awards were bagged by Serai Group, Keyfield International Bhd, and Mydin Mohamed Holdings Bhd.
Looking ahead, CGC remains committed to strengthening its role as a development partner to MSMEs by expanding access to financing and enterprise support, enabling them to grow, innovate, and contribute to a more resilient and inclusive Malaysian economy.
-- BERNAMA