From left: Arshad Mohamed Ismail, Group Chief Executive Officer, Malaysian Rating Corporation Berhad (MARC); Dato’ Muslim Hussain, Chairman of SME Bank; YB Datuk Ewon Benedick, Minister of Entrepreneur Development and Cooperatives, Malaysia; Datuk Dr Mohammad Hardee Ibrahim, Relief Group President/Chief Executive Officer of SME Bank; and Amirul Imran Ahmat, Chief Executive Officer, CEDAR, during the agreement exchange ceremony at the SME Bank XCESS 2024 launch event.

Malaysian Rating Corporation Berhad (MARC) has formed a strategic collaboration with CEDAR (Centre for Entrepreneur Development and Research), a wholly-owned subsidiary of SME Bank Malaysia Berhad. The partnership was officially announced at the SME Bank XCESS 2024 event held on August 17, 2024, at the Putrajaya Marriott Hotel, with YB Datuk Ewon Benedick, Minister of Entrepreneur Development and Cooperatives of Malaysia, and Dato' Muslim Hussain, Chairman of SME Bank, in attendance.

This collaboration aims to foster a thriving entrepreneurial ecosystem in Malaysia by combining MARC’s strengths in credit ratings, economic research, and data analytics with CEDAR’s expertise in business coaching and entrepreneur-focused mentoring. Together, MARC and CEDAR aim to enhance the development of the small and medium-sized enterprise (SME) sector, which plays a vital role in driving Malaysia’s economic growth.

Arshad Mohamed Ismail, Group Chief Executive Officer of MARC, expressed his enthusiasm, stating, "Our collaboration with CEDAR underscores MARC's commitment to supporting Malaysia's SME sector. By working together, we aim to provide entrepreneurs with the essential resources and insights they need to thrive in a competitive business environment."

The primary goal of this joint venture is to promote sustainable entrepreneurship and support the growth of SMEs in Malaysia. Key initiatives include:

• Improving Access to Capital: Enhancing SMEs' access to financial resources and credit to facilitate scaling and growth opportunities.
• Offering Tailored Solutions: Developing a range of products and services that address the unique challenges faced by SMEs today.
• Fostering Business Growth: Providing entrepreneurs with developmental resources to facilitate expansion, optimise operations, and enhance decision-making.

MARC is dedicated to contributing positively to the Malaysian economy through this collaboration. This partnership will help empower businesses and strengthen the country’s overall economic landscape.

Datuk Dr. Mohammad Hardee Ibrahim, Relief Group President/Chief Executive Officer of SME Bank, remarked, "This collaboration will significantly enhance the SME ecosystem by offering participating SMEs access to a comprehensive suite of developmental and intervention services, including coaching, facilitation, mentoring, advising, training, and consulting. These services are crucial in equipping SMEs with the skills and expertise needed to thrive in a competitive market. Since its inception in 2013, CEDAR has been instrumental in supporting and complementing SME Bank's developmental mission, successfully training over 82,000 entrepreneurs. We are confident that this partnership will play a vital role in driving the growth of SMEs nationwide, ultimately contributing to the broader economic development of our country."