CEDA faces Bankruptcy

Magang says it is regrettable that government has no clear-cut policy on the development of small and medium scale enterprises (SMEs) which are reeling from heavy losses resulting from low sales, as they cannot compete with established brands, making it very difficult for them to get a foothold in the market.

"Some of the financed enterprises had targeted government procurement and have found it difficult to penetrate this market due to onerous requirements from procuring entities," he says.