SMEs to get tips on how to work with banks

AN ESTIMATED 40 business owners will meet for Asia Inc Forum's annual roundtable discussion on business development in Brunei today at the Sheraton Utama Hotel.

The 2009 Roundtable on Local Business Development, themed "Building Brunei Businesses: New Opportunities, Winning Strategies, Best Practices", is an annual event to help small and medium enterprises (SMEs) "gain a better understanding from projects in Brunei and how to work better with bank and bankers", said Allen Lai, chief executive officer of Asia Inc Forum. Today's discussion will involve the upcoming projects from the Brunei Economic and Development Board (BEDB). Vincent Cheong, chief executive officer of the BEDB, will discuss what lies in store for local businesses this year and in 2010.

Lai explained that the banking sector also plays an important role in doing business and that Asia Inc works very closely with banks to help SMEs in their business development. Speaking on behalf of Baiduri Bank Bhd, Raymond Bariou, senior deputy general manager, will elaborate on financing local businesses and how successful banking relationships are created.

"There will also be an example of a Singaporean whose business started out small but has now grown to be a publicly listed company, so this is an example of a small business that can grow to be bigger," said Lai. There will be a dialogue with C K Phua, group chief executive of TEE International Limited, an engineering and real estate company.

Lai said that the talk is not purely motivational and is in fact a "tangible informative" roundtable discussion to stimulate thinking in SMEs and with the BEDB and banks to encourage development. Debbie Too The Brunei Times