Kuala Lumpur, 28 September 2011 - SME Corporation Malaysia today released the Financial Guide for SMEs, to assist new and budding entrepreneurs with the aim to improve their financial management skills. The launching ceremony was officiated by YB Dato’ Mukhriz Tun Mahathir, the Deputy Minister of International Trade and Industry. The Guide, an initiative by the Government to promote good financial management practices among SMEs, is specifically targeted at entrepreneurs who often do not have formal financial management training and have limited resources to engage such services. Of importance, the Guide will serve as a useful reference for those who need external financing as it emphasises on the importance for SMEs to establish good financial record and credit worthiness in order to increase their bankability.

2. The Guide is an outcome of a collaborative effort between SME Corporation Malaysia and CPA Australia, whereby the Australian version “Achieving Financial Success” was modified to suit the Malaysian context. The launching was graced by representatives from CPA Australia, Ministry of International Trade and Industry, Bank Negara Malaysia and relevant financial institutions and industry associations. During the launching ceremony, YB Dato’ Mukhriz handed the Guide to representatives from key industry associations and agencies to symbolise the beginning of the collaboration between SME Corporation Malaysia and the associations in expanding the outreach for the Guide. “I am pleased to see such collaboration taking place as what the Government has been envisioning when it comes to strengthening the public-private sector partnership in the national agenda,” said YB Dato’ Mukhriz. To ensure balanced development across regions and inclusive growth, the Deputy Minister also urged officials from East Malaysia to work with trade associations in their region to ensure outreach even to the remotest business communities.

3. The reader friendly Guide looks at A to Z on financial management for SMEs - understanding basic financial statements to improving business finance to managing debt. More importantly, the book also discusses at length on how SMEs can finance their business. The key messages and tips are also summarised making the Guide a useful reference material.

4. Going forward, SME Corporation Malaysia as an Agency responsible in coordinating and promoting SME development in Malaysia will continue to undertake a series of publications aimed at enhancing SMEs’ knowledge on areas that are pertinent to business operations. This is essential not only to promote easy access to information for SMEs, but most importantly to ensure that they are equipped with all the necessary tools for them to manage their business successfully. SME Corporation Malaysia will continue to work closely with the private sector such as the industry associations to leverage on their existing platform to ensure effective and efficient outreach of such information to SMEs.

5. The Guide which is free of charge is available both in English and Bahasa Malaysia and can be obtained from the One-Referral Centre at SME Corporation Malaysia. The Guide can also be accessible online via the website of SME Corporation Malaysia (www.smecorp.gov.my) and SME Info Portal (www.smeinfo.com.my).

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Financial Guides for SMEs (ENG)

Panduan Kewangan untuk PKS (BM)

For more information, please contact:
Ms K. Karunajothi tel: 03-2775 6286 or Ms. Suraini Sulaiman tel: 03- 2775 6290