SME Sector defies challenges to sustain Strong Growth in 2016
23 December 2016 | Source: Bernama
KUALA LUMPUR, Dec 23 (Bernama) - The small and medium enterprise (SME) sector continued its strong growth in 2016 as it persevered the global economic uncertainty and contributed to the country's economy moving forward.

Being the backbone of the country's economy, accounting for 97.3 per cent of the total business setups across the property, services, manufacturing, construction and agriculture industries, the SME sector was impacted by the global volatility, largely due to slumping oil prices and the weakening ringgit.

"The declining oil prices and the weakening ringgit were among the major challenges that impacted our SMEs this year, especially those exporting their products and services," SME Corporation Malaysia (SME Corp) Chief Executive Officer Datuk Hafsah Hashim told Bernama.....


MLTIC works with BERNAMA, the national news agency of Malaysia, to bring you the latest Malaysian legal and tax developments. BERNAMA is one of the country's leading content providers of up-to-the-minute news reports, updates and analysis for newspapers, tv and radio stations, global wire services and the Internet. It provides several services including news-wire and online database services. MLTIC thanks BERNAMA for supporting the Free Access to Law movement in Malaysia.

Notice: The Publishers of MLTIC acknowledge the permission granted by the relevant official/original source for the reproduction of the above/attached materials. You shall not reproduce the above/attached materials in whole or in part without the prior written consent of the Publishers and/or the original/official source. Neither the Publishers nor the official/original source will be liable for any loss, injury, claim, liability, or damage caused directly, indirectly or incidentally to errors in or omissions from the above/attached materials. The Publishers and the official/original source also disclaim and exclude all liabilities in respect of anything done or omitted to be done in reliance upon the whole or any part of the above/attached materials. The access to, and the use of, MLTIC and contents herein are subject to the Terms of Use.