Published: on 16 April 2012
IT was merely a week ago that I witness the launch of the Enterprise 50 Award Programme (E50). This programme is an annual award programme organised by SME Corporation Malaysia (SME Corp) and Deloitte Malaysia with support from Business Times, RHB Bank Bhd, Telekom Malaysia Bhd and Malaysia SME to celebrate and highlight the achievements of 50 enterprising small- and medium-sized companies that are well positioned for the future.
Entering its 16th year, this programme continues to unveil and recognise the potentials of our home-grown companies that have contributed to our economic development. I recall the former managing partner of Andersen Consulting for Asia, Datuk Larry Gan, who once said "the main objective of E50 is to uncover the gems of the future".
Tracing the history of E50, the award programme started way back in 1997. It was then organised by Andersen Consulting (now known as Accenture) and the Small and Medium Industries Development Corporation (Smidec - now known as SME Corp) as its partner and supported by Business Times.
Back then, there weren't many award programmes to recognise emerging small and medium companies in the country. Thus, E50 was the first of its kind. If it wasn't through awards programme like this, we wouldn't be able to gauge a company's growth rate and measure its performance, except those who opt for listing at ACE or Main Market of the national bourse.
The evaluation criteria is based on key financial and non-financial factors which are skewed towards financial performance, management talent, technology, market space and products' maturity of company.
Based on the information gathered at the registration process, the Accenture team together with Smidec and selected industry association members will then visit these companies to verify the truth of the submissions and analyse the space they are operating in as well as chart out the potentials of the companies.
Realising the benefits that lie within this programme, E50 received an overwhelming response from the industry. These companies were given recognition and support through extensive media coverage and as a result of a heightened public profile, companies automatically garnered bigger business exposures.
With E50, companies gained the extra mileage and visibility as the market now is aware of their existence and capabilities.
An additional advantage is of course, being under Smidec's radar screen, almost green lane assistance are provided to our very home-grown companies to accelerate their growth.
Many regarded E50 as a "sought-after" stamp associated with excellent business performance. In fact, many E50 listed companies also used it as their "report card" to assess the readiness of their companies to be listed on the Malaysian bourse.
Eight years passed on and in 2004, due to worldwide restructuring which saw the change of focus from national development projects to industry focus, Accenture withdrew from the initiative. Smidec then took over the lead role, while still getting continuous support from Accenture. E50 gained recognition from the industry and we are not about to wrap it up!
E50 Version 2.0 - E50 needs a new partner to carry on the evaluation process. We need the equivalent of Accenture to receive the same trust and respect from the industry. After a series of discussion, Deloitte was engaged as our new partner. This new partnership received strong support from Business Times, RHB Bank Bhd and Telekom Malaysia Bhd.
Our partnership with Deloitte is based on solid understanding, strong foothold of industry leads as well as competent workforce. With the sturdy support from our partners, the Enterprise 50 is still standing strong, proudly celebrating Malaysia's enterprising spirit.
To date, E50 has honoured a total of 511 companies and attracted 1,673 participants.
E50 Version 3.0 - As E50 enters its 16th year of "uncovering the gems of our country", the programme's format has also evolved. Previously, nominations were open to all home-grown companies regardless if they were small or big in size. Three years ago, it was only opened to SMEs.
This year, the organisers have taken the bold step to restrict the E50 nomination to companies that fulfill SME Corp's minimum four-star SCORE (SME Competitive Rating for Enhancement) rating.
This "by invitation only" nomination will make E50 more prestigious and with it, over 400 companies are eligible to participate. From this pool, Deloitte will then select only the top 50 companies, based on their posturing and market positioning.
Given the privilege of using the E50 logo on their corporate collaterals is indeed a valuable mark of recognition for any local company. This mark indeed symbolises that the company has achieved the status of "Malaysia's Best Companies".
How did we fare all these years? What is the E50 report card? Year after year, we saw the emergence of new E50 companies. Top Glove Bhd, Matrix Flavours & Fragrances Sdn Bhd, Trans Niaga Sdn Bhd and Swift Energy Sdn Bhd are among those who have made the headlines.
With a mark of recognition and valuable endorsement from the industry, 43 of the E50 fraternity companies are already listed on the Malaysian bourse, while 13 on the ACE Market. Needless to say, these are the companies to watch for in the business community and often cited by analysts and research houses.
For this year, invitations have already been sent out to more than 400 selected companies which achieved a minimum of four-star SCORE rating.
If you've received our envelope, Congratulations! You are a step closer to be in the prestigious 2012 Enterprise 50 list.
Why don't you put your act together and send us your application form? Watch out for the deadline which closes on April 20. The search is on for the most innovative, creative and groundbreaking 2012 E50 company.
Why wait? We look forward to seeing you and welcoming you in person at the awards ceremony in November!
Datuk Hafsah Hashim is the chief executive officer of Small and Medium Enterprises Corporation Malaysia (SME Corp Malaysia)
No comments:
Post a Comment