PETALING JAYA: Malaysia’s competitiveness rests on three key factors — timing in relation to global conditions, its strategic geographical and economic position, and its diverse, skilled workforce, said Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong.
Drawing on principles from The Art of War, Sim said success in uncertain times comes down to tian shi, di li, ren he — timing, geographical advantage and human unity.
He said these strengths put Malaysia in a better position to navigate ongoing global uncertainties, including geopolitical tensions and economic volatility, while continuing to support business growth and innovation.
“The crisis is not unique to Malaysia; it is a global one driven by geopolitics and wider uncertainties. However, this does not mean we lack the opportunity or capability to move forward,” he said during a speech at Bisnes Sinar Harian Awards (BISA) 2026 on Wednesday (May 6).
Sim said Malaysia must continue strengthening its support for entrepreneurs, particularly small and medium enterprises (SMEs), which are increasingly demonstrating strong growth potential.
He cited the example of a nasi lemak entrepreneur, Saleha, who started from a roadside stall selling a few hundred packets a day and has now scaled up to around 15,000 packets daily, with plans to reach 30,000 packets.
He said SMEs should not be confined to traditional or low-value industries.
“I’ve told them the ministry will help them to achieve that target. The question is how we help them achieve that next stage of growth. That is where the ministry plays its role.
“It is not enough to say SMEs are only strong in products such as keropok lekor or snacks. We should also be asking why Malaysian entrepreneurs cannot move into higher-value sectors such as semiconductors,” he said.
He added that he had met local players in the semiconductor and manufacturing sectors, including a company with annual revenue of about RM20mil, which is now planning to double its earnings.
Sim also highlighted innovation in the oil and gas-related sector, where a Malaysian company has developed palm oil-based lubricants as part of efforts to advance green technology and industrial upgrading.
“This shows that Malaysian entrepreneurs are not only scaling up, but also innovating at a technological level.
“At the same time, the ministry is committed to helping these SMEs to grow, even if during the current global crisis,” he said.
Meanwhile, Karangkraf Media Group chairman Firdaus Hussamuddin said the Business Sinar Awards is more than just a ceremony, describing it as recognition of the resilience and determination of Malaysian entrepreneurs operating in a challenging economic environment.
She said the awards honour business owners who continue to grow despite uncertainty, while also providing visibility for SMEs that form the backbone of the economy.
“We honour the courage of entrepreneurs who persist in difficult conditions. Sinar Harian stands alongside them as a consistent voice, reflecting the realities and aspirations of the people, including entrepreneurs across the country,” she said.
She added that success should not be measured solely by profit or scale, but also by integrity, social impact and contribution to nation-building, adding that these values are essential in building a sustainable business ecosystem.
Almost 40 awards, including jury-selected honours, will be presented at the Business Sinar Awards, with 31 companies expected to receive recognition, alongside the continuation of a special entrepreneur icon award.