“Managing the Change, Surviving in New Era!” ACCCIM 4th SME Conference

Keynote Address by Dato’ Lim Kok Cheong, President of ACCCIM

22-3-2014 Matrade Hall, Kuala Lumpur

Yang Berbahagia Dato’ Hafsah Hashim, CEO of SME Corporation Malaysia,
Mr. Lau Tai San, Vice President of Singapore Chinese Chamber of Commerce & Industry,
Mdm Chin Jek Bin, Senior Assistant Director of Customs I, Royal Malaysian Customs,
Dato’ Lewré Lew,
Ladies and Gentlemen,
Friends from Media,
A very Good Morning!

Welcome to the 4th SME Conference of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM).

The ACCCIM has organised its First SME Conference in 2006. By inviting successful entrepreneurs to share their experiences, the Conference hoped to introduce new knowledge, new concepts and new ideas to SMEs in managing and developing their businesses. The Themes of the 1st to 3rd ACCCIM SME Conferences were emphasizing on Change and Transformation; the 1st Conference was on how to make a breakthrough in enterprises management; the 2nd Conference was on making use of science, technology and innovations to transform the management of traditional family businesses; and the 3rd Conference was emphasizing on e-commerce and nurturing of talent. For enterprises to survive in this dynamic and highly competitive business environment, enterprises need to continuously adapt to changes and transform.

In recent years, Southeast Asian countries including Malaysia have affected by uncertainty in global economy, including the impact of the global financial crisis in 2008, and the knock-on effect of the euro debt crisis in the second half of 2011.  These unexpected fluctuations in the international economic scenario, coupled with the promulgation of several new policies, including the implementation of National Minimum Wages in 2013, the extension of retirement age, the hike in utilities charges, and the implementation of Goods and Services Tax (GST) from April 1, 2015 have resulted steep rising in the cost of doing business.  SMEs in the processing and manufacturing sectors are particularly burdened with the rising of costs and challenges.  In this current era that full of challenges and changes, how do enterprises strive to progress and tapping on business opportunities and enhance competitiveness?  The Theme for today conference, i.e.  “Managing the Change, Surviving in New Era” is to explore the various ways and means on how enterprises can sustain and continue to progress and expand.

Ladies and Gentlemen,In the era that full of changes, entrepreneurs must have the sense of crisis and always be prepared themselves in meeting internal and external challenges regardless of sector and size of company. A minor mistake or careless might resulted in collapse of businesses. To take things as they are will never lead enterprises to grow. Enterprises can only sustain and progress by inculcate the elements of change and transform.

We are living in the fast changing and ICT era, with globalization and trading without borders, business management and models that we have been practicing for years must also be transformed and changed. Inflexible attitude to changes will lead you no way in this fast changing scenario. Entrepreneurs must be able to think, to decide and adjust his business strategies by making use of ICT as new tool of management to change and transform, and to bring greater progress and achievement to his businesses.

However, no matter how business transform, there are some core values and business ethics that we must uphold. Mr. Jim Collins, the author of “Built to Last” and “Good to Great” who has conducted studies on numerous enterprises that have run their businesses for a long times and continued to progress, has come to a conclusion that “focusing on one thing and doing it well will perform better than doing many things at a time”.  It is important for an enterprise to grow and develop step by step, “first to crawl, then to walk and later to run” even in this ever-changing era. He emphasised that while upholding the core values, it is important for enterprises to set a clear and bold vision, strive to make progress, to develop firmly with practical approach and dedication.  Life-long learning will enable entrepreneurs to get hold of latest information not only to response quickly to external changes so as to revise their business management strategies timely in order to reduce unnecessary loses, but also to tap on new business opportunities .

Ladies and Gentlemen,Transformation and innovation will not bring progress with changing of mindset only. Changes can only happened with actions.  We understand the limitation for SMEs to transform due to financial and manpower constraints. We must be able to make good use of external resources to help SMEs to progress. At this juncture, I am happy to inform that in conjunction with this conference, ACCCIM has invited various Government Agencies to set up counters at the foyer of this ballroom to provide consultative services to participants on the various incentives, services and grants provided to SMEs. Participants should not miss this opportunities to obtain the latest information from these counters during lunch break and afternoon session.

On behalf of the ACCCIM, I would like to thank Maybank for sponsoring this conference.  Maybank is a strategic partner for SMEs and has been offering various financial facilities to assist SMEs. Participants should make use of today conference to obtain more information on services and financial facilities provided by Maybank.

Ladies and Gentlemen,ACCCIM has always been closely monitoring the various issues affecting the business community, and actively submit our memoranda and feedback for consideration of the Government. ACCCIM has been continuously helping our businesses to strengthen their capability and explore new markets by organising various activities such as conferences, forums, outbound and inbound trade and investment missions, factories visit etc. In collaboration with Myanmar Industries Association, ACCCIM has organised the Second Malaysia-Myanmar Exhibition in Yangon in February this year, by bringing-in 67 Malaysian companies to exhibit in Myanmar. More than 300 Malaysian businessmen have visited this exhibition.  ACCCIM hoped that by organising trade exhibition, we will be able to provide a platform for Malaysian companies to enter and explore business opportunities in this newly emerging market.  ACCCIM welcomes more enterprises and businesses to actively participate in activities to be organised by us in helping you to expand your business networking and undertakings.

Last but not least, I wish to express my sincere gratitude to all speakers and panelists of this conference. With great pleasure, I hereby announce the opening of the 4th SME Conference. I wish you all to have a fruitful session.

Thank you.