- Wartawan Nabalu News
SME Corp chairman and CEO visits bakery
6 December 2023
By Wartawan Nabalu News
PENAMPANG: SME Corp Chairman Tan Sri Bernard Dompok and Rizal Nainy, SME Corp's chief executive officer, visited Tasty Bakery in Penampang with the purpose of assessing the establishment’s progress and explore ways in which SME Corp can provide assistance through the present Madani initiatives.
Bernard expressed his belief that Tasty Bakery has great potential for sustainability and growth beyond its current state.
“The assistance that SME Corp aims to provide comes in various forms, with a focus on a matching grant. This grant will be given to Tasty Bakery after they purchase the desired machinery, ensuring that the funds are utilised effectively. Tasty Bakery has expressed their readiness to acquire the necessary machinery,” he said.
He said this after Bakery owner Brett Chua took them to a tour of the bakery accompanied by Rizal and their entourage.
Rizal shared that typically, grants of around RM500,000 can be allocated, but Tasty Bakery will receive RM200,900 as per their specific machinery requirements, representing 70 percent of the total cost. The 30 percent supplementing amount will be borne by Tasty Bakery.
There are other grants available for micro businesses in Sabah and Sarawak. Beep Plus is a programme available in the two Borneo States, which is especially for Micro-enterprise with an amount of up to RM250,000 allocated, he said.
"There is an allocation of RM8 million for BEEP Plus Sabah in 2023," Rizal said adding that the response to this allocation has been highly encouraging, with the number of applications exceeding the available allocation. However, efforts are being made to ensure that every application is considered, even if the allocated amount needs to be adjusted.
He said this allocation is specifically for the year 2023, and the amount for the following year has not yet been determined. The future allocations will be based on the budget and plans for the upcoming year.
To promote knowledge of funding opportunities for Micro, Small, and Medium Enterprises (MSMEs), SME Corp has conducted a roadshow and placed informative buntings in strategic areas such as District Offices. This initiative aims to provide interested and potential entrepreneurs with essential information about available assistance.
According to Bernard, interested individuals can also visit the SME Corp office located in the KWSP building in Kota Kinabalu. There, they can inquire about the specific assistance programmes that suit their needs and receive guidance from the staff. Bernard emphasised that SME Corp is ready to support entrepreneurs who may lack knowledge about starting or running a business. They offer training programmes to enhance accounting skills and can assist in acquiring necessary resources such as machinery.
Bernard stressed the importance of having basic tools, such as a current account, to start a business, regardless of its initial size. The lack of a current account can be an impediment in their application but SME Corp aims to empower entrepreneurs by equipping them with the necessary knowledge and resources to succeed.
"They must have a basic understanding of accounting to ensure proper monitoring of earnings," he emphasised. To assess and improve the competitiveness of SMEs based on their performance and capabilities, they utilise the SME Competitiveness Rating for Enhancement (SCORE), a diagnostic tool.
Tasty Bakery, owned by Brett Chua with assistance from his wife Renette Justin Jimbangan, operates from an establishment converted from two shop lots, with a workforce of 43 employees working in shifts. Their operations involve mixing, baking, cutting, and packaging.
The bakery has achieved a rating of three in the SCORE assessment, which indicates that they are now eligible to import their goods. Since its establishment in 2013, Tasty Bakery has expanded its product range to include bread buns and Swiss rolls. These products are distributed to various outlets, shops, and supermarkets across Kota Kinabalu, Sandakan, Tawau, and several other districts.
