A Collective Effort to Expand GLC Vendors’ Market Base and Capability

PETRONAS and six Government-Linked Companies (GLCs) organised a GLC Business Opportunity Day recently, as a collective effort to benefit local entrepreneurs in expanding their capabilities and businesses.

The event, targeting Bumiputra entrepreneurs in Small and Medium Industries (SMIs), and Small Medium Enterprises (SMEs), saw representatives from PETRONAS, Celcom (M) Berhad, Permodalan Nasional Berhad (PNB), Tabung Haji (TH) Plantations Berhad, Telekom Malaysia Berhad, Tenaga Nasional Berhad and UMW Holdings Berhad.

The representatives provided comprehensive information at their respective booths to more than 700 vendors, offering guidance and assistance on procurement procedures, job descriptions and application evaluation, among others.

The GLCs also shared insights on licensing and registration processes, business opportunities and procurement activities in various presentation sessions. Seven financial institutions under Petronas’ Access to Financing (A2F) programme were also on hand, offering financial advice and solutions.

Minister of Entrepreneur Development, Datuk Seri Mohd Redzuan Mohd Yusof who officiated the event said the aim is to have more Bumiputra SMIs and SMEs growing and enhancing their capabilities, expanding their footprint across industries and to be more resilient and competitive.

“Vendor development is crucial to ensure that all of us can exist together in the ecosystem and to contribute to the growth of Malaysia, in line with the National Entrepreneurship Policy 2030,” he added.

The Minister also urged participants to strive towards making Malaysia a producing nation and a hub for various sectors by having the confidence to showcase local vendors’ capabilities.

Petronas Vice President, Group Procurement, Samsudin Miskon, who is also the organising Chairman of GLC Business Opportunity Day, said the event should be used by the GLC vendors as a platform to build partnerships, widen their offerings and increase their market base.

GLC Business Opportunity Day is one of the initiatives under the Petronas Lestari programme, a Bumiputra vendor enhancement initiative launched earlier this year by Petronas and the Ministry of Entrepreneur Development.