Sharpen skills, PM tells Bumi entrepreneurs
PRIME Minister Datuk Seri Najib Razak has called on Bumiputera entrepreneurs to acquire business knowledge and entrepreneurial skills and build up a reputation for reliability and trustworthiness.
He said it was imperative that they improve on their skills, enhance their knowledge and hone their business acumen to be competitive and relevant.
"A lack of knowledge and business skills is not only prevalent among the Malays but also among the non-Malays," Najib said, noting that some family-run businesses had folded after the second generation took over.
He cited incidences of government-linked companies (GLCs) suffering massive losses.
"That is why it is important for you to equip yourself with these skills," Najib said in his address at the opening of the 2010 Malay Entrepreneurs Convention, organised by the Malaysian Malay Chamber of Commerce, in Kuala Lumpur yesterday.
Najib said world entrepreneurship was no longer something to be acquired while doing business; it could also be learnt in a formal setting.
"Like in the Western nations, business subjects are well embedded in the university curriculum," he said.
After acquiring the skills and acumen, businessmen then have to establish their reputation, he added.
"We want, for instance, banks to recognise us as a trustworthy person the moment we walk into their premises. If we are trustworthy, I believe there will be a lot of people wanting to help us."
Najib said that he, too, placed a premium on a person's reputation and attitude.
"I like to help people who are diligent and trustworthy, who dutifully pay their bank loans or Mara loans and keep to their promises," he said, eliciting much laughter from the audience.
Najib said that reputation was a quality held in high regard by the business community.
"It's important to be trustworthy as our reputation depends on it."
Najib gave the example of billionaire Hong Kong entrepreneur Lee Ka-shing, who as a struggling businessman had stuck to a business deal even after he realised that he was going to lose money.
"However, his reputation for keeping his word earned him respect and held him in good stead subsequently. It eventually helped make him a billionaire and earned him the reputation of being a businessman who kept his word."
Najib also called on Malay businessmen to venture outside of sectors considered as "sunset industries".
The weakness among Malay businessmen is that they engage in fields which are already saturated, he said.
Najib talked about the New Economic Model (NEM) and how some critics had panned it.
"There have been some quarters which have questioned it, but as a whole it has been embraced by the nation. It has helped alleviate poverty and ensured there is just treatment among all races," he said.
Najib said the NEM maintained the objectives of the New Economic Policy.
"The point of contention now is perhaps the issue of implementation and whether the modules are effective and fair to the Bumiputeras as well as the non-Bumiputeras. This is something that needs further fine-tuning."
By V. Vasudevan and Abdul Azim Idris
He said it was imperative that they improve on their skills, enhance their knowledge and hone their business acumen to be competitive and relevant.
"A lack of knowledge and business skills is not only prevalent among the Malays but also among the non-Malays," Najib said, noting that some family-run businesses had folded after the second generation took over.
He cited incidences of government-linked companies (GLCs) suffering massive losses."It is not just about individuals. We must look at such weaknesses in terms of the need to enhance business and entrepreneurial skills.
"That is why it is important for you to equip yourself with these skills," Najib said in his address at the opening of the 2010 Malay Entrepreneurs Convention, organised by the Malaysian Malay Chamber of Commerce, in Kuala Lumpur yesterday.
Najib said world entrepreneurship was no longer something to be acquired while doing business; it could also be learnt in a formal setting.
"Like in the Western nations, business subjects are well embedded in the university curriculum," he said.
After acquiring the skills and acumen, businessmen then have to establish their reputation, he added.
"We want, for instance, banks to recognise us as a trustworthy person the moment we walk into their premises. If we are trustworthy, I believe there will be a lot of people wanting to help us."
Najib said that he, too, placed a premium on a person's reputation and attitude.
"I like to help people who are diligent and trustworthy, who dutifully pay their bank loans or Mara loans and keep to their promises," he said, eliciting much laughter from the audience.
Najib said that reputation was a quality held in high regard by the business community.
"It's important to be trustworthy as our reputation depends on it."
Najib gave the example of billionaire Hong Kong entrepreneur Lee Ka-shing, who as a struggling businessman had stuck to a business deal even after he realised that he was going to lose money.
"However, his reputation for keeping his word earned him respect and held him in good stead subsequently. It eventually helped make him a billionaire and earned him the reputation of being a businessman who kept his word."
Najib also called on Malay businessmen to venture outside of sectors considered as "sunset industries".
The weakness among Malay businessmen is that they engage in fields which are already saturated, he said.
Najib talked about the New Economic Model (NEM) and how some critics had panned it.
"There have been some quarters which have questioned it, but as a whole it has been embraced by the nation. It has helped alleviate poverty and ensured there is just treatment among all races," he said.
Najib said the NEM maintained the objectives of the New Economic Policy.
"The point of contention now is perhaps the issue of implementation and whether the modules are effective and fair to the Bumiputeras as well as the non-Bumiputeras. This is something that needs further fine-tuning."
By V. Vasudevan and Abdul Azim Idris
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