CCM Teams Up with SME Bank to Develop Bumiputra Vendors
KUALA LUMPUR: Chemical Company of Malaysia Bhd (CCM) and the Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) have launched a partnership to develop Bumiputra vendors.
The two parties had on Wednesday signed an MoU to kick off a three-year collaboration for the Bumiputera Vendor Development Programme (BVDP). CCM said the agreement was in line with the government’s aspiration to set up a Bumiputra Commercial and Industrial Community (BCIC) under the National Development Policy. The BVDP aims to develop capable Bumiputra vendors who are able to supply quality goods and services competitively. The collaboration, which ends on Dec 31, 2017, will see SME Bank offering financial assistance to eligible small and medium enterprises (SMEs) within CCM’s business ecosystem, via financing schemes
SME Bank’s subsidiary, the Centre for Entrepreneur Development and Research (CEDAR), will provide entrepreneur development training to the vendors. CCM group managing director Leonard Ariff Abdul Shatar said the company remains committed in supporting local businesses and continuously strives to contribute back to the economic growth of these communities, in line with its vision “Enhancing Quality of Life”. “As a key player in the pharmaceutical, fertiliser and chemical industries, CCM is well positioned to assist Bumiputera vendors increase their capabilities and competitiveness through our vendor development initiative.
“With the support from SME Bank and CEDAR, we are confident that the programme will certainly be beneficial and have a lasting impact on our participating vendors,” said Leonard Ariff.
SME Bank group managing director Datuk Mohd Radzif Mohd Yunus expressed the bank’s commitment to ensure the success of the vendor development programme. “We are committed to ensuring that the programme will be beneficial to both CCM and the vendors and trust that the holistic approach we offer will greatly improve the sustainability of the businesses by the entrepreneurs,” he added.
Published in the Star, 5 August 2015