SME Association Of Malaysia 30th Anniversary Gala Dinner 26-5-2026 At Sunway Resort Hotel The 30th Anniversary Gala Dinner of the SME Association of Malaysia was successfully held on 26 May 2026 at the Sunway Resort Hotel, attended by a packed house of VVIPs from government agencies, associations, corporations, major conglomerates, prominent business leaders, public figures, and politicians. The grand occasion was filled with memorable moments and concluded with tremendous success, leaving lasting, cherished memories for all attendees and fostering good networking. YB Tuan Steven Sim Chee Keong, the Minister in the Ministry of Entrepreneur and Cooperatives Development (MECO), was the guest of honor and gave an inspiring speech with a summary as follows: Summary of SME Boost & Budget Win: Executive Summary Budget increased: SME allocation raised from RM 50 billion → RM 60 billion (additional RM 10 billion) within four months. Immediate liquidity & financing: RM 4 billion of low-cost financing approved in 4 months, benefiting about 150,000 companies; goal to inject RM 15 billion via the ''Power Up 10,000'' boost-up. Tax relief measures: Direct taxes reduced (-2% personal income tax; -2% business income tax lower band); targeted reductions/exemptions of indirect taxes and SST (rental, input materials for agriculture, etc.) to ease business costs. Strategic signal: Minister positions Malaysia as geopolitically and commercially well‑placed (climate, geography, human capital) and emphasizes diversity as a national competitive advantage. Key Discussions SME funding & liquidity What was discussed: Need to ensure SMEs have cash flow and access to capital to survive global multiple crises. Speaker reported rapid disbursement actions and programs to boost SME liquidity. Outcome / Decision: Approved RM 4 billion low‑cost financing; target to channel RM 15 billion via Power Up 10,000; aim to ensure sufficient market liquidity for SMEs. Fiscal & tax measures What was discussed: Balance between some increased indirect taxes and targeted reliefs to reduce business cost pressure. Outcome / Decision: Direct taxes reduced (personal and business income tax -2% each on noted ranges); government committed to reduce/exempt certain indirect taxes and SST (examples: rental SST exemptions, SST exemptions on input materials for agriculture) and tax suspension for select groups affected by supply‑chain disruption. Power Up 10,000 program What was discussed: New program to boost SME capital and market activity. Outcome / Decision: Program launched with an ambition to inject RM 15 billion from boost‑up measures into the SME sector; some firms reported difficulty accessing funds — rollout continuing. Malaysia’s comparative advantages What was discussed: Malaysia’s climate, geography (position between three major bay/economic zones), and multicultural human capital give it an edge for trade and investment. Outcome / Decision: Reiterate diplomatic/trade ties and use of neutrality/centrality to attract investment; minister calls for collective, cross‑community effort to compete internationally. Recognition & tone What was discussed: Celebration of SME Malaysia’s 30 years, thanks to organizers and national pride symbols (flag, anthem). Outcome / Decision: Call for unity — businesses to act as Malaysians first and leverage diversity as strength. Key Decisions Made Increase SME budget allocation to RM 60 billion (RM 50B → RM 60B) - by Minister Approve RM 4 billion low‑cost financing (within 4 months) - by Minister Launch ''Power Up 10,000'' with a target to inject RM 15 billion into SMEs - by Minister Reduce direct taxes (personal income tax and business income tax lower band by ~2%) - by Minister Commit to targeted indirect tax / SST reductions or exemptions (rental SST, SST on agricultural inputs, suspension/exemption for key affected groups) - by Minister Open Items Uneven access to boost‑up funds: some companies reported unsuccessful applications; further rollout and inclusion needed. Ensure the additional budget and measures translate into broad SME liquidity and working capital across sectors (no single owner specified). Congratulations to Dr. Chin Chee Seong (National President - SME Association Of Malaysia), Dato’ Sri Dr. Ricky Yaw (National Deputy President - SME Association Of Malaysia), and the 30th Anniversary Gala Dinner (OC), and all the working committee members for their outstanding teamwork and dedication in creating a truly remarkable and successful event that became the talk of the town. News Link: http://enanyang.my/news/20260527/Finance/1263531 https://www.enanyang.my/news/20260527/Finance/1263558 Thank you. Best Regards, (Dr.) Beh Hock Heng (P.J.K.) Managing Director Culmi Air-Cond & Refrigeration Parts Supply Sdn. Bhd.
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