Welcome and thank you for joining us in this second edition of e-Wavelength. It's unbelievable how time has passed so swiftly since the inaugural issue of this newsletter in July. Although things are still going on in full speed, we are now fast approaching the year-end. As the New Year brings resolutions, the year-end usually is a time when we ponder upon our achievements over the past year.
At MDV, we have strived to accomplish our objectives, despite the challenging economic situation over the past year. We have worked hard to ensure that business runs as usual, if not better. MDV has been kept busy with many new and returning clients seeking funds to further develop their businesses or to venture into smaller projects.
Since our inception in 2002, MDV has always focused more on the ICT sector, as it is one of the main emerging sectors in the country with huge potential. Having seen many ICT companies advance after commercialisation and realising the country's need to move forward in other sectors too, MDV started to identify some new business focus areas. We feel that it is our responsibility to ensure that our funds reach our target audience, which are locally incorporated companies going towards commercialisation.
Biotechnology for example, has become extremely relevant in our lives today in order to Feed, Fuel and Heal the world. We launched the MDV Biotech Financing Programme in May 2008 in order to facilitate biotech companies to reach their full potential. Holista Colltech for example, recently obtained MDV's funding for its project to develop and commercialise ovine (sheep) collagen which is the biggest of its sort in the world.
Besides biotechnology, MDV aims to assist the SMEs to expand and go international with their products and services. We are encouraging ICT adoption in SMEs, to facilitate their expansion efforts by increasing efficiency and productivity. The right ICT infrastructure sets the stage for more than double the productivity manual labour can. Therefore we believe that with ICT adoption, SMEs can progress further and faster.
In addition to that, MDV has also ventured into vendor financing. MDV partners with TM, to provide financing assistance to their vendors. This is an excellent arrangement especially for the vendors as they get to offer their services and expertise to TM without having to worry about seeking financial assistance in advance. These vendors usually need to get a loan in order to complete the needs of the project; which is generally on a much larger scale. In this pact, MDV will provide funding as long as the vendor company is eligible and fulfils the basic requirements we have set.
Moving forward, MDV hopes to explore more opportunities in order to reach out to the different industries in Malaysia. We want to offer financing assistance to more deserving locally incorporated companies, especially to those in our business focus areas.
With that, on behalf of MDV, I would like to wish everyone a good year-end and Happy New Year in advance. May the New Year bring prosperity, better health and great opportunities for everyone!
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Small and medium enterprises (SMEs) play an essential role in Malaysia's economy, making up 99% of all registered companies. Currently, there are more than 500,000 companies registered with SMiDEC and these small businesses contribute to about 34% of the country's gross domestic product. |
Clearly, SMEs have the potential to contribute substantially to the nation's economy and is set to provide a strong foundation for the development of new industries which will assist in moving Malaysia up the value chain.
Possessing a business with competitive edge is essential and would help SMEs to advance further in their respective industries. One of the most viable and accessible options in achieving this would be by adopting the Information and Communication Technology (ICT).
Over the past decade, ICT has matured tremendously in Malaysia. It has paved the way and opened doors to new possibilities in many different industries. As technology is an enabler for all businesses, ICT is certainly a great tool for the advancement of SMEs - giving them the boost needed to perform better, be it in the servicing or manufacturing sector.
The adoption of ICT promises to enhance efficiency for these small businesses. Suitable softwares and systems provide a better structure to already available procedures, making them well-organized as opposed to manual processes. Advanced inventory management systems for example, encourage more efficient and streamlined operations, while business planning software allows entrepreneurs to be constantly in touch with both big picture goals as well as important day to day details.
ICT adoption also proves to be extremely useful in the use of innovative machines and equipments which help increase productivity, particularly in the manufacturing sector. Increase in productivity will enable entrepreneurs to move forward, providing them the opportunity to expand to an international level and compete in the larger global market.
SMEs will also gain from the advantages of e-commerce and e-marketing with the right ICT infrastructure. The use of Internet for example, provides a faster, cheaper and more convenient method for SMEs to go beyond their usual boundaries. SMEs can explore promoting and distributing their products online as well as facilitating online payments to reach out to more customers in distant geographic locations.
Some communication services available on the Internet for free make direct and interactive relationship with clients and suppliers possible without sacrificing the margins. This not only translates to greater customer satisfaction but also an increase in efficiency at no extra cost.
By incorporating innovative ICT solutions into their businesses, SMEs will not only achieve increased productivity and enhanced efficiency, but also contribute towards strengthening the nation's economy. Hence, MDV is encouraging ICT adoption in SMEs by offering funding for eligible projects. MDV's role as an innovative financier and development facilitator aims to further provide SMEs with opportunities to mature in line with the country's vision.
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Incorporated in January 2005, Simfoni Maya Sdn Bhd (Simfoni) is a media infrastructure company which specialises in designing, developing and maintenance of Indoor Digital Media (IDM) and Outdoor Digital Media (ODM) networks. Simfoni builds, operates and maintains Malaysia's largest IDM network. The IDM network, which is similar to a Private TV channel; broadcasts advertising and infotainment content.
The company which was initially established to bid for the Digital Billboard concession from Telekom Malaysia Berhad; now provides IDM services for more than 106 of TM Point's outlets nationwide, KTMB intercity trains and platforms as well as Bank Islam and Bank Rakyat branches among others.
The founders of Simfoni; Latt Sharizan Abdullah and Razenan Hanaffi said that they got inspired to establish the company after Tun Mahathir Mohamad's call for local companies to innovate and explore new products and services through the use of technology.
Latt Sharizan and Razenan realized that the evolution and convergence of multimedia and broadband technologies are fast changing the communication methods in every industry. As such, the need to communicate powerful messages to audiences at targeted locations and at the most appropriate time is necessary to maintain a competitive edge, especially since traditional mediums such as television is becoming more and more fragmented.
With MDV's funding assistance for equipments, Simfoni has developed functional and efficient software solutions among others. Simfoni's off-the-shelf ‘broadcast media' software solution allows them to devise a better and more cost effective way to reach the target audience and to easily create private ‘out-of-home' advertising networks specifically optimized for this new targeted mass medium.
Having been awarded the MSC Status in June 2008, Simfoni plans to expand regionally to Indonesia, Singapore and India, besides looking at business expansion opportunities in the Outdoor Digital Billboards segment.
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