KUALA LUMPUR: When the going gets tough, the tough gets going, as evidenced by the entrepreneurs who spoke at the recent Star Outstanding Business Awards (SOBA) 2021 #SOS: Save Our SMEs webinar.
Financial help: (from left) Zamree, CGC chief business officer Leong Weng Choong, Standard Chartered Malaysia head of business banking Raj Tatavarty, and Abrar at the portfolio guarantee signing ceremony.
KUALA LUMPUR: As the small and medium-size enterprise (SME) sector picks up the pace again following the pandemic, Credit Guarantee Corp Malaysia Bhd (CGC) and Standard Chartered Malaysia are extending a helping hand by making available RM70mil in financing to provide SMEs with working capital. Under a portfolio guarantee (PG) agreement, the financing facility is expected to help ease the burdens of SMEs and sustain their business as they recover from the effects of the pandemic.
DUE to the Covid-19 pandemic and the resulting lockdowns in 2020, retail businesses had to scramble to go online in order to regain sales and survive, while work-from-home workers adapted to shopping online.
Lazada Malaysia chief marketing officer Diana Boo noted that the online shopping platform saw a 300% increase in new sellers on-board last year, via its Pakej Kedai Pintar stimulus plan which aimed to assist local small and medium enterprises (SMEs) to sell online.
“The overall digital economy has grown. We’re not the only e-commerce platform. There are many small businesses that have gone online. And even after the movement control order (MCO) was lifted, consumers continue to stay online, ” said Boo at the Smart Retail: Powering Nation’s Digital Economy two-day live virtual conference, held at end-March.
Introduction
Every construction project has at least one consultant appointed by a developer (also known as an employer of the project). While the types of consultant and their respective roles may differ from project to project, a consultant s role generally includes the certification of work and progress. In most instances, this also requires the consultant to certify the amount payable for work done and the amount payable by the employer to the main contractor. A payment certificate will be issued thereafter.
As cashflow is crucial for main contractors in any ongoing construction project, prompt and expeditious payments by the employer are often expected. However, if the main contractor is dissatisfied with the payment certificate, can the main contractor sue the consultant for negligence? The Court of Appeal addressed this question in a recent case commenced by PCP Construction Sdn Bhd against L3 Architects Sdn Bhd.(1) In its decision, the Court of Appeal unanimously upheld t
Upbeat: Ng says the applications are stronger in innovation and technology.
PETALING JAYA: While some small and medium enterprises (SMEs) are aggressively pursuing innovation through the use of technology and branding efforts both online and offline, a significant portion of smaller businesses still have much to work on, said several of The Star Outstanding Business Awards (SOBA) judges.
Private equity management company Novum Equity Partners managing director Ng Mun Hon said, “Overall, we can see the applications are stronger in innovation and use of technology, relative to the previous year(s).
“The competition in the top three to five is tighter. However, there remains a gap between the top applicants and the rest.”