CIMB Shine – Empowering SMES To Equip Entrepreneurs With 4IR Know-How For Trillion-Dollar Global E-Commerce Market

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KUALA LUMPUR, Oct 4 – CIMB Foundation (“the Foundation”), in partnership with Malaysia Digital Economy Corporation (MDEC) and knowledge partner, Cheng & Co recently launched CIMB SHINE – Empowering SMEs (“CIMB SHINE”), a platform for start-ups, entrepreneurs and SMEs to equip them with the right knowledge in finance, 4IR and e-commerce.

SMEs that fully embrace the new 4IR know-how are the ones that can capitalise on opportunities in the global e-commerce market, currently valued in excess of US$23 trillion. To bring these points to life, CIMB SHINE’s gamified, interactive curriculum was specially curated to provide SMEs with deeper insights on, among others, e-commerce opportunities, and ensuring successful financing and business management for growth.

Dato’ Hamidah Naziadin, CEO of CIMB Foundation, commented, “SMEs are the backbone of Malaysia’s economy, contributing 37% to Malaysia’s GDP. Knowledge and innovation are key factors to empower SMEs to grow their business in today’s highly digitised and mobile-driven marketplace.

With CIMB SHINE, we hope to reach out and help SMEs to further strengthen their capabilities to remain competitive and resilient in the gig economy. We are indeed encouraged by the enthusiastic response to the inaugural programme in Kuala Lumpur and we look forward to bringing CIMB SHINE to more locations nationwide”.

“MDEC continues to be committed in driving digital transformation in Malaysia as we propel the nation towards embracing 4IR. One such ongoing critical initiative is the eUsahawan programme.

Beyond enabling entrepreneurs to kickstart their digital journey, it also gives them the opportunity to better grasp the benefits of going digital. With this collaboration, we believe more enterprises can fully leverage on the benefits of taking the digital leap”, said Surina Shukri, Chief Executive Officer of MDEC.

CIMB Foundation’s focus on empowering SMEs is also in line with CIMB Group’s support to Malaysia’s newly launched National Entrepreneurship Policy, as well as CIMB’s full commitment to seven of the UN’s Sustainable Development Goals (SDG).

Thus far, the Foundation has also disbursed RM2.6 million through 59 projects to equip 20,000 members of the community – particularly women and the differently abled – with entrepreneurship skills and resources, a programme that feed into UN’s Decent Work and Economic Growth SDG.

CIMB Group has pledged 1% of the Group’s profit before tax (PBT) towards CSR initiatives across ASEAN for the period 2018 – 2020. Since its establishment in 2007, CIMB Foundation has disbursed RM140 million to benefit around 750,000 people via more than 1,000 initiatives based on three main pillars i.e., community development, education or sports.

Quotes from Participants

1. Not only the program is informative but fully funded comprehensive eCommerce courses are also offered to SMEs in need. Well done, CIMB and MDEC!
Mr. Ong Chee Tat, Deputy President of SME Association of Malaysia

2. It’s good to see seminars such as these that focus on sharing of knowledge and are absolutely not marketing orientated. I look forward to more of these being done to benefit more SME entrepreneurs.
Mr. Ng Yih Chen, President of MADA (Malaysia Aquaculture Development Association)

3. The speakers are sincere in their talks covering topics such as eCommerce, cloud accounting as part of a firm’s ERP strategy, and how banks evaluate loan applications. These are very important ingredients for SMEs to succeed in today’s business environment. I hope CIMB will offer more such seminars covering a wider range of relevant subjects from time to time. Congratulations, CIMB!
Mr. Lee Yew Chen, Chairman of Finance and Capital Market Consultative Committee, ACCCIM (Associated Chinese Chamber of Commerce and Industry Malaysia)

4. These seminars are great for the SMEs and we look forward to working closely with CIMB for the benefits of our members.
Dato’ Liew Bin, Vice President of MRCA (Malaysia Retail Chain Association)

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