TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

ASEAN credit rating could help small businesses

  • Muhammad Shodiq
    Muhammad Shodiq

    Vice president, Syariah & MSME Academy head at CIMB Niaga

Jakarta   /   Mon, January 8, 2018   /  08:23 am
ASEAN credit rating could help small businesses Do not disturb: A worker rolls thread in a process that requires intense focus in Kediri, East Java. (JP/Nedi Putra AW)

The definition of micro, small and medium enterprises (MSMEs) varies across ASEAN countries. Indonesia and Malaysia define MSMEs as companies that have more than five but less than 75 employees, while the Philippines, Thailand and Singapore define MSMEs as firms with no more 200 employees. In term of annual sales, MSME borrowers are firms with less than US$4 million in annual sales in Indonesia, $6 million in Malaysia, $2.3 million in the Philippines, $6 million in Thailand and $74 million in Singapore. ASEAN is a diverse and economically dynamic grouping of 10 Asian countries that collectively accounts for the world’s third largest consumer base and a 3.2 percent share of the global gross domestic product (over $2.5 trillion) and an average gross domestic product (GDP) per capita over $4,000. MSMEs amount to 97 percent of business units in ASEAN, and most of its labor force. ...

Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.