Baiduri Luanches SME Programme
By P Marilyn

Bandar Seri Begawan - Baiduri Bank launched a new programme to assist and support small and medium-sized enterprises (SMEs) in Brunei.

The guest of honour was the Deputy Minister of the Ministry of Industry and Primary Resources, Dato PadukaAwg Haji Hamdilah bin Haji Abd Wahab.

Mr Pierre Imhof, General Manager of Baiduri Bank, called on SMEs to focus on enhancing their business skills, be transparent in their business activities, and cultivate and uphold good financial discipline.

"As a local bank with foreign expertise, Baiduri Bank is a reliable banking partner who understands the financial needs of the SMEs. We firmly believe that by launching this programme, we would provide a platform opening up immense opportunities for SMEs to tap on. Such optimism is also taking into account the efforts being undertaken by various government agencies to diversify business activities in support of investments and projects promoted by the Ministry of Industry and Primary Resources," he said.

SMEs are a key driver of the Brunei economy. According to official statistics in 2002, out of a total of 6,817 companies established in the country, 97 per cent are SMEs, with the majority operating in wholesale and retail, construction, mining and manufacturing sectors. SMEs employ 60 per cent of Brunei's workforce and play a strategic role in the overall economic growth and diversification of the economy.

Through its SME Programme, -Baiduri Bank hopes to inculcate business management practices among local entrepreneurs, and help enhance their competitiveness through efficiency, productivity and capability development.

The new Baiduri SME Programme is a structured programme aimed at widening the scope of assistance to entrepreneurs. Financing options available under this programme are the SME Working Capital Financing, SME Installment Loan, SME Account Receivables Financing, SME Indent Financing and SME Property Financing.

The bank finances working capital needs and business expansion, and offers valueadded services like a comprehensive suite of banking services, business consultancy services and business development services.

Business consultancy services by financial professionals help SME customers improve their financial competencies.

Business development services heighten awareness in financial management, process improvement, adoption of technology through networking, information sharing and business development training, in order to strengthen the business capabilities of SMEs.

The comprehensive suite of banking services are tailored to the needs of individual businesses, including business credit cards, card merchant services, internet payment gateway for e-commerce merchants, commercial vehicle financing or leasing, trade services, remittances, treasury services, payroll processing, internet banking and wealth management.

These approaches provide needed guidance and mentoring which small businesses often lack. The bank said it hopes to offer business support services by leveraging on its network of corporate vendors to secure to secure preferred pricing for SME customers for printing, stationeries, telecommunication services, insurance and office equipment, and help achieve cost savings.

The bank has served SMEs successfully over the past few years by offering products and services such as payment cards; mortgages, deposit taking, lending, trade finance, cash management and foreign exchange through its retail banking, corporate banking and trade services departments.

The bank has also been actively participating in government initiatives aimed at financing the SMEs, such as the Working Capital Credit Fund established by the Brunei Darussalam Economic Council (BDEC); the Enterprise Facilitation Scheme and Micro-Credit Financing Scheme, launched by MIPR.

"As reflected in our brand promise, we strive to fulfill the banking needs of individuals as well as businesses. °Baiduri Bank aims to be the leading financial institution in SME banking and to this end, we are constantly exploring new ways of helping our enterprising customers grow," said Mr Imhof.

The Baiduri SME Programme reinforces the bank's commitment to develop and nurture SMEs and hope that their SME customers would grow to become wellestablished corporates with the capabilities to compete locally and even internationally.

And with that the bank will have the privilege of offering them a more diverse range of banking facilities to meet their increasingly sophisticated financial needs, he said.

Services under the Baiduri SME Programme are available across the bank's entire branch network. SME customers can visit the nearest Baiduri Bank branch for a complimentary consultation.

Some 200 members from various chambers of commerce, business associations, SMEs and senior officials from the Ministry of Industry and Primary Resources (MIPR), BEDB, BINA and other government agencies attended the launching ceremony. -- Courtesy of Borneo Bulletin

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