DEAR SHAREHOLDERS
With a clear vision and disciplined execution, we are strengthening CGC’s role as a catalyst for the growth of Malaysian MSMEs, while simultaneously enhancing our internal competencies and digital ecosystem to meet future needs. Harmonising growth with responsibility, we remain equally committed to nurturing our people and integrating sustainability into our operations.
DEAR SHAREHOLDERS
I am pleased to share that 2024 was a year of progress on all fronts for CGC Malaysia (CGC) despite rising global uncertainties. From delivering encouraging financial performance and expanding our developmental support for MSMEs to advancing sustainability and forging impactful partnerships that strengthen the Malaysian MSME ecosystem, we have continued to navigate an evolving industry landscape with resilience and purpose.
Over 35 years of experience in banking operations, corporate banking, consumer banking and Islamic finance. He has held the following key positions:
Currently leading CGC Digital, the digital subsidiary of CGC Malaysia, to further aid MSMEs’ access to financing and help them scale their businesses using data and technology-driven innovation.
She possesses over 28 years of experience in various leading roles spanning transformation, strategy, corporate startup, technology-led innovation, corporate support functions, operations, and management consulting within the financial services industry at both local and regional levels.
Her previous roles at CGC Malaysia include Chief Technology & Operations Officer, Chief Information Officer and Senior Vice President of the Programme Management Office. She has also previously held the following positions:
Over 26 years of experience in Audit & Risk Management. He has held the following key positions:
Has accumulated 30 years of experience in various sectors such as financial services, oil & gas, telecommunications, aerospace, and hotel & property development. He has held the following key positions:
Over 30 years of combined experience in business and credit management covering the entire Business Banking portfolio, including Investment, Treasury and Capital Markets, Corporate, Commercial, SMEs and Retail Business. With expertise in investment and corporate business at Amanah Merchant Bank Bhd, she was a pioneer member of RHB Islamic Bank Bhd, contributing to establishing Malaysia’s first Islamic Window subsidiary. She has held the following key positions and undertook credit transformation exercises as Head of Credit Management in:
Over 25 years of experience across key industries, holding senior positions related to financial services primarily in the banking, wealth management, and fund management sectors, as well as in automotive, infrastructure, and property development. His previous roles include:
Over 24 years of experience in banking and PropTech covering SME and Consumer Segments including Business Development, Sales Management, Product and Marketing, Business Strategy, Strategic Alliances, Collection and Recovery and Data Software Solutions. He has held the following key positions:
Over 32 years of experience in human resource strategies, management, administration, and operations in banking as well as in various corporate environments. He has held the following key positions:
Over 20 years of professional experience in accounting firms, with auditing experience in various commercial sectors within government agencies, financial institutions, and the sovereign wealth fund industry. She played an instrumental role in Khazanah’s strategic planning, performance reporting, and portfolio management. She led transformative initiatives at PNB, implementing core investment systems, data warehouses, and building data teams. At Ernst & Young, she headed asset and fund management, investment holding, services and trading, property development, and the manufacturing industry. She has held the following key positions:
Over 28 years of experience with various national and international organisations, involved in global and regional projects in applications development, systems integration, enterprise architecture, and managed services delivery. He oversees the company’s technology strategy, initiatives, and ensures efficient technology and cybersecurity operations in his current role. He has held the following positions:
Over 41 years of experience in fund management, particularly in managing fixed income investment portfolios, credit evaluation, and credit risk management. She has held the following key positions:
Over 28 years of experience in Shared/Full Risk and Financing applications. He has held the following positions:
With over 35 years of distinguished experience in the banking and financial sectors across Malaysia and Indonesia, Mohamed Azman Mohamed Taufik brings extensive expertise in corporate banking, SME banking, and branch management. His strategic leadership has been instrumental in driving business growth and innovation at CGC. Throughout his career, he has held several senior positions, including:
Since joining CGC in 2015, Azman has played a pivotal role in enhancing product offerings and strengthening business development initiatives, contributing significantly to the organisation’s mission of supporting SMEs and fostering financial inclusion.
Over 27 years of experience in consumer banking strategy development, operations, channels, and change management leadership within financial institutions, including those with regional presence. Previous positions include:
Over 22 years of multi-channel delivery experience have established her as a leading expert in digital transformation. Her track record includes numerous successful engagements that have transformed customer experiences and streamlined operations. Previous key positions include:
Over 27 years of experience in various leading roles involving financial market development, open-market operations, foreign exchange intervention, investment management, international relations, strategic management, corporate communication and corporate governance. He has also been seconded to global financial market intermediaries in Wall Street, New York & Princeton, New Jersey, USA. He has held the following key positions:
CGC is proud to have played a pivotal role in Yijia Food Enterprise’s transformation from a home-based family-run food delivery service into a structured and fast-growing business with modern operations and its own in-house delivery fleet.
The relationship began when the company faced cash flow disruptions during the pandemic. With CGC’s guarantee, Yijia Food Enterprise secured working capital financing that enabled it to stabilise operations and chart a clear path forward. Rather than merely weathering the storm, however, they seized the opportunity to invest in packaging upgrades, digital infrastructure, and staff wages—scaling up operations without compromising on quality as demand returned.
CGC’s financial backing and support also provided the confidence and resources for the company to establish its own delivery team, reducing reliance on third-party logistics and gaining greater control over service quality, delivery speed, and customer satisfaction which are critical success factors in the food delivery space.
These investments paid off, with Yijia Food Enterprise achieving RM900,000 in annual sales, a 70% customer retention rate, and launching a dedicated website to manage orders more efficiently.
Looking ahead, the company remains focused on expanding its offerings, forming strategic industry collaborations, and further enhancing the customer experience. As it scales with purpose, Yijia Food Enterprise will continue to draw on CGC’s support—particularly in financing, advisory, and strategic connections—to navigate its next phase of growth.
Airis Aesthetic Centre began as a home-based business led by Liana, an aspiring entrepreneur with big dreams but limited resources. Although she initially struggled with self-confidence, Liana brought strong passion and determination to her business. With the guidance she received from participating in the CGC100 Youth Entrepreneurship Programme, she found the clarity and conviction to take her business to the next level.
With the help of CGC100’s curated modules and mentoring sessions, she overcame early doubts and, together with her business partner, developed a detailed business plan that enabled her to expand operations, hire staff, and diversify income streams. The programme’s planning and pitching exercises were particularly instrumental in helping her formalise her vision and translate it into results.
For Liana, CGC100 did more than build business acumen—it reshaped her mindset. She discovered how structured planning can simplify decision-making and turn challenges into actionable steps. Today, Airis Aesthetic Centre has a new physical premise, a growing team, and sales that have doubled since she joined the programme.
Looking ahead, Liana is focused on taking the business further—not only in terms of profitability, but also in brand visibility, customer satisfaction, and social impact. With ambitions to tap into new markets and enhance operational excellence, she sees CGC as a continued partner in her entrepreneurial journey.
GV M&E Engineering, a provider of mechanical and electrical contractor services, has weathered its fair share of financial challenges. A major setback came when a main contractor failed to honour payment for a large job, leaving founder Gobi Kumaran burdened with outstanding debts to workers and suppliers, and struggling to maintain enough working capital to take on new projects.
Despite having a solid reputation and a steady stream of job offers, Gobi faced a tough reality—many of the jobs came with payment terms of 60 to 75 days and no upfront deposit. Asking for a deposit meant risking the job, as competitors were willing to proceed without one. When he received an offer for a significant underground earthing project for a condominium’s lighting system, Gobi knew financing was essential to take it on.
With CGC’s guarantee, Gobi secured a BSN Teman Niaga loan in 2023. The financing enabled him to take on the project, keep his business running, and steadily repay outstanding debts—marking a critical step toward stabilising his operations.
Amidst these challenges, Gobi remains committed to doing business the right way. His strong work ethic and integrity have since opened new doors, including a solar installation project with more favourable payment terms. Although he still carries high monthly repayments, he is optimistic about improving the company’s finances in the near future.
Looking ahead, Gobi plans to strengthen his cash flow, improve staff salaries, and build a more sustainable pipeline of projects. While his engineering talents are evident, he recognises the importance of improving his financial literacy and hopes to participate in CGC’s workshops to sharpen his business management skills — something he had previously missed due to scheduling conflicts.
iPay88, now known as NTT Data E-Commerce Solutions Sdn Bhd, is a leading provider of digital payment services in Malaysia and the Asia Pacific region. With a footprint that has empowered tens of thousands of MSMEs, the company has played a key role in advancing Malaysia’s digital economy. But its journey didn’t begin with a major tech breakthrough — it started with a business loan that sparked a path of innovation and impact.
In 1999, founder Lim Kok Hing was running Grand Dynamic Resources, a growing telecommunications company that distributed prepaid mobile SIM cards. Although Lim had sharp market instincts and drive, his initial capital of RM10,000 was insufficient to scale the business. At a time when business was still largely conducted face to face, the RM500,000 CGC-backed loan he secured through Bank Bumiputra Malaysia Berhad (now CIMB Bank) proved instrumental. It enabled him to expand distribution touchpoints nationwide and grow his team from five to over 200 within just two years.
Recognising the shift toward online commerce, Lim and his team channelled the earnings from Grand Dynamic Resources to launch the Mobile88 website in the early 2000s. Initially serving as an information hub for mobile devices and telco plans, Lim soon sought to complete the customer experience by enabling online sales of SIM cards and prepaid reloads. This created the need for a secure online payment solution — an opportunity Lim seized by collaborating with banks to build gateways that enabled Mobile88 to accept VISA, MasterCard and online banking payments. iPay88 was born, and the rest is history.
Looking back, Lim credits that initial CGC-backed loan as the catalyst for his entrepreneurial success. In an era when startups with limited capital found it difficult to secure meaningful bank financing, CGC’s role was pivotal in helping him launch and scale his vision.
Importantly, as a former startup owner, Lim also understood the struggles MSMEs faced in earning the trust of financial institutions. While many banks hesitated to serve small merchants, iPay88 stepped in to bridge the gap — taking on the risk and providing accessible, secure payment solutions that helped MSMEs digitalise. The result was transformational: merchants gained modern capabilities, and iPay88 became a household name in Malaysia’s digital economy.
By 2015, the company had grown substantially and required more advanced IT infrastructure and global reach. Lim and his team invited Japan’s NTT Data Corporation to invest, bringing the scale, expertise, and capital needed to propel iPay88 into its next phase of growth as part of a global technology network. The acquisition was a powerful endorsement that a Malaysian- born company could gain the confidence of an international conglomerate.
Reflecting on his journey, Lim underscores the importance of building a financial ecosystem that supports innovative entrepreneurs — of which there are many in Malaysia. Without access to early support, companies like iPay88 — and the thousands of MSMEs they serve — may never reach their full potential.
His story is a compelling reminder of the ripple effect that well-placed financing can create — fueling ambition, unlocking innovation, and empowering Malaysia’s MSMEs to grow with confidence in an evolving landscape.
When the pandemic hit, Winnex Worldwide—known for its specialised degreasers used for kitchenware and tableware—faced a steep decline in business. With restaurants and mall-based outlets shutting down, sales plummeted. After learning through Bank Negara Malaysia’s media announcements that CGC was actively supporting SMEs through the crisis, Winnex reached out for assistance. Although the initial bank loan attempt was unsuccessful, this marked the beginning of a lasting and impactful relationship.
Since then, CGC has supported Winnex through a suite of developmental programmes focused on financial management, business expansion, and digital marketing. The company gained hands-on exposure through CGC’s Networking Sessions, Access New Markets initiative, and TikTok Coaching Sessions — leveraging the insights gleaned from these engagements to strengthen its sales and marketing efforts. This enabled Winnex to successfully expand beyond the F&B sector into hardware outlets and supermarkets.
Through the networking sessions, Winnex engaged with potential partners in related industries, opening opportunities for resource sharing and collaboration that broadened both commercial reach and brand presence. Meanwhile, the TikTok Coaching Sessions enhanced the company’s digital marketing fluency, sparking engagement with hotel restaurants and e-commerce influencers, and laying a strong foundation for entry into online sales channels.