This is the second time I'm writing about SME Corp (formerly known as Smidec) and SME Bank. Both are related. What Rockybru wrote h e r e a few days ago inspired me to add more...
Rakyat Didahulukan, Pencapaian Diutamakan.
What is 'pencapaian diutamakan' if potential local companies, some with their world's first, are being neglected.
I hope the propagator of this motto reads this pathetic episode of a Bumiputra company, whose owners were doomned to choose between closing down their business or to just let it rot and spree from their responsibility.
With an asset of almost RM10 million, Hot Can Sdn Bhd has spent some RM6 million in a research to produce 'shake-and-get-hot' cans of mocha, chocolate and other blends. What you got to do is shake the can for about 20 seconds, wait for a minute before it gets real hot, open it up and drink it.
That's what I described as a world class achievement or 'pencapaian'. They received orders of about RM6 million a year from Australia, New Zealand and other countries. All they need is a RM2 million loan from the SME Bank via SME Corp to buy aluminium from Germany, to produce enough cans.
However, SME Corp said they are not qualified as they have an outstanding RM500,000 loan with Maybank. However, Maybank has agreed to reschedule the loan, provided that Hot Can gets the fund from SME Bank.
Its over a year now. They have even met with Datuk Mustapa Mohamad at MITI and the minister promised to sort it out.
Well, everthing turns out to be anti-climax. Hot Can received a rejection letter, again and again and again from SME Corp and the Bank. The reason stays - an outstanding loan with Maybank.
If the company has enough money, they wouldnt have gone to see SME Corp officials for help. SME Corp function is here under question. Who do they actually help? Many see no reason for such a rejection.
The company has been striving to make Malaysia a R & D and development centre for high-tech and high end products but in return, we force them to close shop.
Where is Datuk Najib and his 'pencapaian diutamakan?'