14  theSun | WEDNESDAY SEPTEMBER 9 2009

business

‘SMEs need attractive

incentives to venture offshore’
KUALA LUMPUR: The 2010
Budget should have attractive
incentives to prompt small and
medium entrepreneurs (SMEs)
to venture beyond the Malaysian
shores, said Associated Chinese
Chambers of Commerce and
Industry of Malaysia secretary-
general Datuk David Chua.
“Financial and non-financial
assistance should be given to up-
grade SMEs and to enable them to
explore avenues in other regions
and be connected internation-
ally,” he said of his 2010 Budget
expectations for the SME sector.
Chua was speaking to report-
ers after announcing the winners
of the Golden Bull Award 2009
yesterday.
Next year’s budget will be
tabled in Parliament on Oct 23.
Chua said the government
was now acting on a two-prong
strategy to encourage business
growth entrepreneurship and
generate domestic activities to
revive the economy as well as to
develop the SME sector.
On the outlook for SMEs
this year, Chua said the sector
performed better than last year
despite the sluggish economy.
“SMEs are moving in the right
direction not only in terms of
performance but also in financial
results and corporate governance.
“In the midst of an economic
downturn, SMEs are still per-
forming well in fuelling their
long-term development towards
greater heights,” Chua added.
He said a wide spectrum of the
private sector was represented by
the SMEs.
“SMEs are an important
foundation and that is why we
have this award to honour and
recognise their contribution to
the economy.
“The award will help spur
SMEs to grow further and we
hope more companies, from the
Malay and Indian business com-
munity, will be forthcoming in
participating in the annual award.
We also welcome participation
from companies outside the
Klang Valley including Sabah
and Sarawak,” said Chua, who
is also chief judge for the award
selection committee.
On the awards, Chua said the
Golden Bull Award 2009, organised
by Nanyang Siang Pau Press Hold-
ings Bhd, is into its seventh year of
honouring Malaysian SMEs for the
excellent performance.
The top 10 winners of the
Golden Bull Award 2009 are Old
Town International Sdn Bhd,
All Cosmos Industries Sdn Bhd,
Maestro Laboratories Sdn Bhd,
Multi-B Sdn Bhd, Hexa Analisa
Sdn Bhd, Advance Technical Fab-
ric Sdn Bhd, Sushi Kin Sdn Bhd,
Lee Soon Seng Industries Sdn
Bhd, Pecca Leather Sdn Bhd and
Metahub Industries Sdn Bhd.
The winners will each receive a
trophy and certificate at a presen-
tation dinner to be held in October
at the Genting International
Convention Centre. – Bernama

Maybank appoints Megat Zaharuddin

as new chairman
KUALA LUMPUR: Malayan Bank-
ing Bhd (Maybank) has appointed
Tan Sri Megat Zaharuddin Megat
Mohd Nor as its new chairman
effective Oct 1, succeeding Tan
Sri Mohamed Basir Ahmad who
will not seek reappointment at
the annual general meeting on
Sept 30.
The country’s largest commer-
cial bank said Megat Zaharuddin,
60, served on the Maybank Board
as an independent and non-ex-
ecutive director from July 2004
to February this year.
He served as chairman of the
remuneration and establishment
committee of the board and was
a member of the nomination
committee of the board.
Mohamed Basir retires upon
the conclusion of the AGM.
Mohamed Basir, 71, joined
Maybank as a director on Aug 5,
1993 upon his retirement as an
adviser to Bank Negara Malaysia.
He was appointed
briefs
Maybank chairman
on Oct 9, 1993.
He also served 3Com wins Agrobank
as chairman network contract
of a number of KUALA LUMPUR: 3Com Corporation, a
companies in the leading global enterprise networking pro-
Maybank Group vider, has won a contract with Agrobank,
including Mayban Malaysia’s agricultural bank, for nation-
Fortis Holdings wide network deployment.
Bhd, Maybank “The bank has chosen 3Com’s core-
Investment Bank Megat Zaharuddin ... Mohamed Basir ... 16 to-edge, wireline and wireless switching,
Berhad, Bank Inter- new chairman years at the helm routing and Voice Over Internet Protocol
nasional Indonesia, (VoIP) technology to enhance backbone
PT Bank Maybank Indocorp and services group,” said Mohamed connectivity across 175 branches na-
Maybank Philippines Inc. Basir. tionwide,” said 3Com in a statement
In addition, he is a chartered Maybank president and chief yesterday.
member of the Visa Asia Pacific executive officer Datuk Seri 3Com said the infrastructure would
Advisory Council. Abdul Wahid Omar thanked Mo- also provide high connectivity between
“I am honoured to have been hamed Basir for his invaluable Agrobank’s headquarters, all branch offic-
given the privilege to lead the leadership and guidance. ers and its data centre. – Bernama
Maybank board for the past 16 “Many a Maybanker will
years, a period during which the attest to his exemplary chair-
group carved an illustrious record manship, professionalism and
Hai-O to grow revenue by
of performance and achievement integrity as a seasoned banker,” 10% for FY2010
as the country’s leading financial he said. – Bernama KUALA LUMPUR: Multi-level marketing
company, Hai-O Marketing Sdn Bhd,
expects its revenue to grow by at least
10% for the financial year ending April
30, 2010, driven by aggressive advertis-
ing and promotion (A&P) activities.
Managing director Ng Lip Yong said
since March, the company had under-
taken an intensive A&P which involved
television advertisements as well as
changing the look on 30 billboards.
“We have come up with more mod-
ern-looking billboards along highways
and in strategic locations, so that
everyone knows about Hai-O.
The company posted revenue of
RM350 million in the financial year
ended April 30, 2009, a more than 20
percent growth from the RM280 million
recorded the previous year. – Bernama

Sapura Industrial posts

lower H1 pre-tax profit
KUALA LUMPUR: Sapura Industrial Bhd
posted a 74.43% drop in pre-tax profit of
RM1.818 million for first half ended July
31, 2009, from the RM7.112 million in the
previous corresponding period.
In a note to Bursa Malaysia yesterday,
the auto parts manufacturer said this was
due to higher raw material, component
and operating costs.
Its revenue fell 8.38% to RM103.809
million from RM113.313 million
previously.
For its second quarter, the firm
recorded a 64.52% decline in its pre-tax
profit of RM1.298 million from RM3.659
million a year ago. – Bernama