Services Sector Lead Growth Among SMEs

Devki Yadav August 9, 2024 Media OutReach

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

Berjayapak Sdn Bhd

Eastern Fishing Tackle (M) Sdn Bhd

Eastern Suntech Engineering & Construction Sdn Bhd

Fitline (M) Sdn Bhd

Green Island Feed Mills Sdn Bhd

Intergreen Metals Sdn Bhd

Perbena Emas Sdn Bhd

Percetakan Tenaga Sdn Bhd

Steel Recon Industries Sdn Bhd

Teamplete Sdn Bhd

Wagro Trading Sdn Bhd

Wiki Labs Sdn Bhd

OUTSTANDING SMES CATEGORY

Agensi Pekerjaan Best Choice Solutions Sdn Bhd

Agensi Pekerjaan GCR Sdn Bhd

Agensi Pekerjaan MCS Sdn Bhd

Alientech Asia Sdn Bhd

Alpha Solar Sdn Bhd

An Ju Global Sdn Bhd

AP Merin Services Sdn Bhd

Benwoods Industry Sdn Bhd

Bestmas (M) Sdn Bhd

BOSS Solutions Global Sdn Bhd

BREGO Life Sciences Sdn Bhd

CCIE Engineering (M) Sdn Bhd

CVS Medical Sdn Bhd

DN Cleaning & Services (M) Sdn Bhd

Eastway Express Line Sdn Bhd

ECO Interior Supplies Sdn Bhd

EI Power Technologies Sdn Bhd

Ekaire Marketing Sdn Bhd

Engenious Solutions Sdn Bhd

Focus Chemical Sdn Bhd

Hin Press Sdn Bhd

Hitch On Sdn Bhd

Hitec Metal Sdn Bhd

Hock Cheong Transport Co. (1974) Sdn Bhd

Idealbuild Engineering Sdn Bhd

Ideas Shoes Sdn Bhd

In Grid Design Sdn Bhd

Inazume SEF Sdn Bhd

Infab Classic Industries Sdn Bhd

INK Marketing Sdn Bhd

Intelligent Advisory Sdn Bhd

IPC Industries Sdn Bhd

Jia Quan (M) Sdn Bhd

JR Engineering And Medical Technologies (M) Sdn Bhd

JVG Bina Sdn Bhd

Kaolin (M) Sdn Bhd

KMS Manufactory Sdn Bhd

Kredence Creative Solutions Sdn Bhd

KTL Electrical Engineering Sdn Bhd

Lee Heng High Precision Engineering Sdn Bhd

Light Up 7 Sdn Bhd

Lin Meng Sdn Bhd

Magical Logistics (M) Sdn Bhd

Major Engineering Sdn Bhd

Mandrill Tech Sdn Bhd

Milieu Solar Sdn Bhd

MK Porridge Sdn Bhd

MT Food Ingredients Sdn Bhd

Murni Machinery Sdn Bhd

MyKey Global Sdn Bhd

Nexus Wise Sdn Bhd

Octowill Trustees Berhad

P & A Prospect Sdn Bhd

Pan Elite Resources Sdn Bhd

Ping Edge Sdn Bhd

Plus Studio & Marketing Communication Sdn Bhd

Posh Northern Sdn Bhd

Rack Master Industries Sdn Bhd

Realux Sdn Bhd

Red Rhino Security Door (M) Sdn Bhd

Roda Land Sdn Bhd

Rymnet Solutions Sdn Bhd

Sam Properties Realty Sdn Bhd

Sentai Kitchenware Sdn Bhd

Sinsheng Tat Trading Sdn Bhd

Song Song Frozen Food Sdn Bhd

SPCL Systems Sdn Bhd

STI Fire Safety Sdn Bhd

Tacoplast Industries Sdn Bhd

TenQ Group Sdn Bhd

Tech-Latex Scientific Sdn Bhd

TKC Fruits & Vegetables Sdn Bhd

Union Profit Cosmetic Manufacturing Sdn Bhd

Unique Travel & Convention Sdn Bhd

VMG Interior Fit Out Sdn Bhd

Weng Seng Fresh Sdn Bhd

Worldlink Cargo Services Sdn Bhd

EMERGING SMES CATEGORY

3 Day’s Furniture Sdn Bhd

AG Statue Maker & Silverware Sdn Bhd

Aman O2O Sdn Bhd

Amelisa Pet & Co

Anton & Chen, Advocates & Solicitors

Ascons Real Estate Sdn Bhd

Auntie Michelle Resources (M) Sdn Bhd

Axevents Sdn Bhd

Axrail Sdn Bhd

BIV Multimedia Sdn Bhd

Chevin Sdn Bhd

Collaborative Excellence Sdn Bhd

Corvus Techub Sdn Bhd

Current Energy (M) Sdn Bhd

Endless Momentum Motor Sport Sdn Bhd

Esente Advisory Sdn Bhd

Finex Capital Holding Sdn Bhd

Global Link Plus Properties Sdn Bhd

Hui Brother Restaurant (M) Sdn Bhd

Imagine AI Sdn Bhd

Infinite Renco Sdn Bhd

ITAC Skills Academy Sdn Bhd

Kirin Industry Sdn Bhd

KOA Production

Maze Global Sdn Bhd

Nam Heong Restaurant Holdings Sdn Bhd

ODY Infinite Holdings Sdn Bhd

P & A Transport & Services Sdn Bhd

Prop Wealth Sdn Bhd

Qiye Technology Sdn Bhd

Sky Mirror World Tour Sdn Bhd (GoMyHire)

The Bomb Battle Sdn Bhd

Traderpreneur Xcellence Sdn Bhd

U Plus Realty Sdn Bhd

VBH Group Sdn Bhd

VVinners Technology Sdn Bhd

WITO Technology Sdn Bhd

DISTINGUISHED BULL AWARDS

Always Marketing (M) Sdn Bhd

Aqurate Ingredients Intl (M) Sdn Bhd

Ezytronic Sdn Bhd

International Footwear (Penang) Sdn Bhd

Kanika (Malaysia) Sdn Bhd

Khean Seng Engineering Sdn Bhd

Pilot Construction Sdn Bhd

Seng Kong Shutter Industries Sdn Bhd

Shin-Yo Engineering Sdn Bhd

Sinoflex Logistics Sdn Bhd

The Olive Tree Group

UIS Technologies Sdn Bhd

DIGITAL TRANSFORMATION AWARDS