New Malaysian trade minister wants weekly reports from Smidec

THE new Malaysian trade minister, Datuk Mustapa Mohamed, has cranked up the pressure on one of the agencies under his ministry.
He now wants Smidec, the body responsible for the development of small and medium enterprises (SMEs), to give him weekly reports on how the economic downturn is affecting small businesses in Malaysia.
"I have asked for weekly monitoring as the situation in the SME sector needs to be watched very closely," he said in Kuala Lumpur recently.
The minister, who did not hold a proper press conference, then went to another agency, Malaysia External Trade Development Corp.
Mustapa said Smidec (Small and Medium Industries Development Corp) is finalising a survey to gauge the impact of the global economic crisis on SMEs.
The findings are due to be released early next month.
The previous survey was done by Smidec and the Federation of Malaysian Manufacturers in the fourth quarter last year.
It found that the slowdown has not significantly affected SMEs yet.
Mustapa also said that the ministry is in the process of tabling the Smidec Act in the Parliament to change Smidec into SME Corp.
SME Corp will be the central coordinating body for SME development in the country.
It is understood that the Act is currently at the Attorney General's Chambers and will be tabled in the Dewan Rakyat in June.