Ong: Branding the way to go for SMEs

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PUTRAJAYA: Small and medium enterprises (SMEs) should build strong brands to sustain their competitive advantage, Transport Minister Datuk Seri Ong Tee Keat said.

He said brands were the “currency” of today’s business environment but it was still very much under-utilised by the local business community.

“Today’s consumers are spoilt for choice and the challenge for SMEs is to create, build and retain customer preference. SMEs must strategise to convince consumers that their products and services are superior to others,” he said at the SMI Association of Malaysia annual dinner and SME Recognition Award 2009 presentation last night.

Special honour: Ong (right) presenting the Sahabat SME Award to Star Publications’ executive director Ng Beng Lye at the SMI Association of Malaysia’s annual dinner at the Putrajaya International Convention Centre last night.

Ong, who is the association’s patron, said that although many Malaysian companies have developed world-class brands, their quality of service still needed to be improved.

The success or failure of any brand, he said, depended on consumer satisfaction.

Ong said that through the “Talk 2 Tee Keat” initiative, he had the opportunity to listen to issues faced by the business community and receive constructive suggestions on how to move the nation forward both economically and as a community of entrepreneurs.

Describing the feedback as eye-opening and constructive, the minister said he hoped to assist the business community in resolving their grievances.

Ong added that views and suggestions on what the Government could do to help in the development of SME would be “communicated” to the Cabinet.

A total of 84 SME corporations and four entrepreneurs were honoured for their outstanding achievements and contributions.

Founder president of Limkokwing University of Creative Technology Tan Sri Dr Lim Kok Wing, founder and group managing director of Kumpulan Karangkraf Datuk Hussamuddin Yaacub and founder and chief executive officer of Lotus Corporation Berhad, Datuk R. Doraisingam Pillai, were the recipients of the SME Platinum Award.

President and group chief executive of the Petra Group Datuk Vinod B. Sekhar received the SME Overseas Platinum Award.

Star Publications (M) Berhad was among the recipients of the Sahabat SME Award.