Services Sector Lead Growth Among SMEs

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 9 August 2024 – The services sector continues to lead growth among SMEs. At the recently held Golden Bull Award 2024, 65.3 percent of all the winners were from the services sector, including in retail and wholesale, professional and business services, IT and education.

The manufacturing sector accounted for 23.9 percent of the winners, with the construction and agriculture sectors rounding up the rest of the winners at 9.4 percent and 1.4 percent respectively.

This is in-line with the 2023 MSME Performance Report issued by the Department of Statistics Malaysia, where the services sector led the growth among SMEs, with a 6.5 percent jump in sectoral GDP versus 5.0 percent growth for all SMEs.

The Golden Bull Award is organised by Business Media International in partnership with the Small and Medium Enterprises Association of Malaysia (SAMENTA), and has been held annually since 2002.

Minister of economy, Rafizi Ramli presented the awards to the winners, which are made up of SMEs of various sizes and from every state across the country. In his officiating address, the minister emphasised the importance of SMEs to the country, and encouraged the SMEs to focus on internationalisation and growth in productivity.

The 2024 program saw a significant increase in participation, with 2,662 nominations received, marking a 15% rise from the previous year. This surge reflects the growing recognition of the crucial role SMEs play in Malaysia’s economy, contributing 39.1% to the nation’s GDP in 2023.

“This year’s Golden Bull Award has truly been a remarkable showcase of the strength and potential of our SMEs. The increased participation and high calibre of nominations reflect the unwavering entrepreneurial spirit and dedication to excellence among our business community. It is heartening to see such robust support from the government, which aligns with our vision at SAMENTA to empower SMEs to reach greater heights.” said organising chairman Datuk William Ng.

Ng, who is also the national president of SAMENTA added “We are proud to celebrate the achievements of these outstanding businesses and look forward to their continued contribution to Malaysia’s economic success. Together, we are paving the way for a brighter and more prosperous future.”

The Golden Bull Award is divided into three categories: Emerging SMEs, Outstanding SMEs, and the prestigious Super Golden Bull Award. These categories are designed to accommodate businesses based on their annual revenue, ensuring a fair and comprehensive assessment process tailored to recognize the achievements of SMEs at different stages of growth.

The Distinguished Bull Awards was added as a new category to recognise returning Golden Bull Award winners who have made considerable progress or grown their market presence since their previous triumph. 12 distinguished SMEs were recognised for their sustained growth and success.

Baker Tilly Malaysia served as the official auditor for the Golden Bull Award, ensuring transparency and integrity throughout the process. Meanwhile, CTOS Data Systems Sdn Bhd provided independent data as the official credit reporting agency.

Established in 2003, the Golden Bull Award is the oldest business recognition program for SMEs in the region, spanning four key markets: mainland China, Malaysia, Singapore, and Taiwan. It has become a premier platform for celebrating business excellence across these diverse markets.

For more information about the Golden Bull Award Malaysia 2024 and a complete list of winners, please visit https://goldenbullaward.asia/

LIST OF WINNERS OF THE GOLDEN BULL AWARD 2024 IN ALPHABETICAL ORDER

SUPER GOLDEN BULL CATEGORY

1. Berjayapak Sdn Bhd
2. Eastern Fishing Tackle (M) Sdn Bhd
3. Eastern Suntech Engineering & Construction Sdn Bhd
4. Fitline (M) Sdn Bhd
5. Green Island Feed Mills Sdn Bhd
6. Intergreen Metals Sdn Bhd
7. Perbena Emas Sdn Bhd
8. Percetakan Tenaga Sdn Bhd
9. Steel Recon Industries Sdn Bhd
10. Teamplete Sdn Bhd
11. Wagro Trading Sdn Bhd
12. Wiki Labs Sdn Bhd

OUTSTANDING SMES CATEGORY

1. Agensi Pekerjaan Best Choice Solutions Sdn Bhd
2. Agensi Pekerjaan GCR Sdn Bhd
3. Agensi Pekerjaan MCS Sdn Bhd
4. Alientech Asia Sdn Bhd
5. Alpha Solar Sdn Bhd
6. An Ju Global Sdn Bhd
7. AP Merin Services Sdn Bhd
8. Benwoods Industry Sdn Bhd
9. Bestmas (M) Sdn Bhd
10. BOSS Solutions Global Sdn Bhd
11. BREGO Life Sciences Sdn Bhd
12. CCIE Engineering (M) Sdn Bhd
13. CVS Medical Sdn Bhd
14. DN Cleaning & Services (M) Sdn Bhd
15. Eastway Express Line Sdn Bhd
16. ECO Interior Supplies Sdn Bhd
17. EI Power Technologies Sdn Bhd
18. Ekaire Marketing Sdn Bhd
19. Engenious Solutions Sdn Bhd
20. Focus Chemical Sdn Bhd
21. Hin Press Sdn Bhd
22. Hitch On Sdn Bhd
23. Hitec Metal Sdn Bhd
24. Hock Cheong Transport Co. (1974) Sdn Bhd
25. Idealbuild Engineering Sdn Bhd
26. Ideas Shoes Sdn Bhd
27. In Grid Design Sdn Bhd
28. Inazume SEF Sdn Bhd
29. Infab Classic Industries Sdn Bhd
30. INK Marketing Sdn Bhd
31. Intelligent Advisory Sdn Bhd
32. IPC Industries Sdn Bhd
33. Jia Quan (M) Sdn Bhd
34. JR Engineering And Medical Technologies (M) Sdn Bhd
35. JVG Bina Sdn Bhd
36. Kaolin (M) Sdn Bhd
37. KMS Manufactory Sdn Bhd
38. Kredence Creative Solutions Sdn Bhd
39. KTL Electrical Engineering Sdn Bhd
40. Lee Heng High Precision Engineering Sdn Bhd
41. Light Up 7 Sdn Bhd
42. Lin Meng Sdn Bhd
43. Magical Logistics (M) Sdn Bhd
44. Major Engineering Sdn Bhd
45. Mandrill Tech Sdn Bhd
46. Milieu Solar Sdn Bhd
47. MK Porridge Sdn Bhd
48. MT Food Ingredients Sdn Bhd
49. Murni Machinery Sdn Bhd
50. MyKey Global Sdn Bhd
51. Nexus Wise Sdn Bhd
52. Octowill Trustees Berhad
53. P & A Prospect Sdn Bhd
54. Pan Elite Resources Sdn Bhd
55. Ping Edge Sdn Bhd
56. Plus Studio & Marketing Communication Sdn Bhd
57. Posh Northern Sdn Bhd
58. Rack Master Industries Sdn Bhd
59. Realux Sdn Bhd
60. Red Rhino Security Door (M) Sdn Bhd
61. Roda Land Sdn Bhd
62. Rymnet Solutions Sdn Bhd
63. Sam Properties Realty Sdn Bhd
64. Sentai Kitchenware Sdn Bhd
65. Sinsheng Tat Trading Sdn Bhd
66. Song Song Frozen Food Sdn Bhd
67. SPCL Systems Sdn Bhd
68. STI Fire Safety Sdn Bhd
69. Tacoplast Industries Sdn Bhd
70. TenQ Group Sdn Bhd
71. Tech-Latex Scientific Sdn Bhd
72. TKC Fruits & Vegetables Sdn Bhd
73. Union Profit Cosmetic Manufacturing Sdn Bhd
74. Unique Travel & Convention Sdn Bhd
75. VMG Interior Fit Out Sdn Bhd
76. Weng Seng Fresh Sdn Bhd
77. Worldlink Cargo Services Sdn Bhd

EMERGING SMES CATEGORY

1. 3 Day’s Furniture Sdn Bhd
2. AG Statue Maker & Silverware Sdn Bhd
3. Aman O2O Sdn Bhd
4. Amelisa Pet & Co
5. Anton & Chen, Advocates & Solicitors
6. Ascons Real Estate Sdn Bhd
7. Auntie Michelle Resources (M) Sdn Bhd
8. Axevents Sdn Bhd
9. Axrail Sdn Bhd
10. BIV Multimedia Sdn Bhd
11. Chevin Sdn Bhd
12. Collaborative Excellence Sdn Bhd
13. Corvus Techub Sdn Bhd
14. Current Energy (M) Sdn Bhd
15. Endless Momentum Motor Sport Sdn Bhd
16. Esente Advisory Sdn Bhd
17. Finex Capital Holding Sdn Bhd
18. Global Link Plus Properties Sdn Bhd
19. Hui Brother Restaurant (M) Sdn Bhd
20. Imagine AI Sdn Bhd
21. Infinite Renco Sdn Bhd
22. ITAC Skills Academy Sdn Bhd
23. Kirin Industry Sdn Bhd
24. KOA Production
25. Maze Global Sdn Bhd
26. Nam Heong Restaurant Holdings Sdn Bhd
27. ODY Infinite Holdings Sdn Bhd
28. P & A Transport & Services Sdn Bhd
29. Prop Wealth Sdn Bhd
30. Qiye Technology Sdn Bhd
31. Sky Mirror World Tour Sdn Bhd (GoMyHire)
32. The Bomb Battle Sdn Bhd
33. Traderpreneur Xcellence Sdn Bhd
34. U Plus Realty Sdn Bhd
35. VBH Group Sdn Bhd
36. VVinners Technology Sdn Bhd
37. WITO Technology Sdn Bhd

DISTINGUISHED BULL AWARDS

1. Always Marketing (M) Sdn Bhd
2. Aqurate Ingredients Intl (M) Sdn Bhd
3. Ezytronic Sdn Bhd
4. International Footwear (Penang) Sdn Bhd
5. Kanika (Malaysia) Sdn Bhd
6. Khean Seng Engineering Sdn Bhd
7. Pilot Construction Sdn Bhd
8. Seng Kong Shutter Industries Sdn Bhd
9. Shin-Yo Engineering Sdn Bhd
10. Sinoflex Logistics Sdn Bhd
11. The Olive Tree Group
12. UIS Technologies Sdn Bhd

DIGITAL TRANSFORMATION AWARDS

1. AG Statue Maker & Silverware Sdn Bhd
2. Alpha Solar Sdn Bhd
3. Always Marketing (M) Sdn Bhd
4. BIV Multimedia Sdn Bhd
5. BOSS Solutions Global Sdn Bhd
6. Engenious Solutions Sdn Bhd
7. Green Island Feed Mills Sdn Bhd
8. IPC Industries Sdn Bhd
9. Kredence Creative Solutions Sdn Bhd
10. Maze Global Sdn Bhd
11. Pan Elite Resources Sdn Bhd
12. Percetakan Tenaga Sdn Bhd
13. Sentai Kitchenware Sdn Bhd
14. Teamplete Sdn Bhd
15. Wiki Labs Sdn Bhd

Hashtag: #goldenbullaward

The issuer is solely responsible for the content of this announcement.

About SAMENTA

Established in 1986, SAMENTA is Malaysia’s oldest and largest association of SMEs, with over 4,700 members across the country. A multi-racial, multi-sector association, SAMENTA has been at the forefront of championing a SME-friendly business environment and connecting SMEs to regional and global opportunities.

About Business Media International

Business Media International is a subsidiary of Audience Analytics Limited (1AZ.SG), a regional leader in promoting growth for companies in Asia through data-driven brands and initiatives. BMI owns renowned media brands such as SME Magazine, HR Asia, Capital Asia, Energy Asia, Logistics Asia, TruthTV, and CXP Asia as well as business impact assessment brands such as SME100, HR Asia Best Companies to Work for in Asia, Golden Bull Awards and CXP Asia Best Customer Experience Awards. BMI also organises various exhibitions and has the proprietary software-as-a-service — Total Engagement Assessment Model – in its portfolio.