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BUSINESS • 20/03/2025 12:44 PM

Maybank, TikTok Shop Ink MoU To Drive Digitalisation Of ASEAN SMEs

KUALA LUMPUR, March 20 (Bernama) -- Malayan Banking Bhd (Maybank) and TikTok Shop Malaysia have signed a Memorandum of Understanding (MoU) to launch the ASEAN SME Upskilling and Digitalisation Programme.

The programme aims to help small and medium enterprises (SMEs) adopt digital commerce and expand their businesses.

Group chief executive officer of community financial services, Syed Ahmad Taufik Albar said the pilot programme will commence in Malaysia next month and will include webinars, workshops, and a six-month accelerator plan.

"Through this programme, we aim to leverage the strengths of both Maybank and TikTok Shop to empower entrepreneurs across the region with the knowledge, insights, skills, and tools needed to future-proof their businesses, regardless of their stage of growth.

"Participants will gain hands-on experience in adopting digital solutions, leveraging content-driven e-commerce, and optimising account management techniques — all crucial for long-term business growth and success," he said at the signing ceremony today.

He noted that the first cohort in Malaysia will focus on women entrepreneurs, in line with Maybank’s HERpower initiative. 

“Women-led SMEs make up 20 per cent of all SMEs in Malaysia but continue to face barriers in accessing funding and expanding their businesses.

“As such, the first Malaysian cohort of the accelerator plan will be reserved for women entrepreneurs,” he said, adding that Maybank aims to increase women-led SMEs from 20 per cent to at least 25 per cent by 2026.

HERpower is Maybank's initiative to support women entrepreneurs with financial solutions, mentorship, and business development, aiming to bridge funding gaps, expand opportunities, and promote economic inclusion.

Meanwhile, TikTok Shop Malaysia's director of strategic partnerships, Nur Azre Abdul Aziz, said that in addition to quantitative measures, the platform also takes a qualitative approach by providing SMEs with increased traffic support and social media exposure.

“An example is an SME we supported that started at a night market, expanded online, established a physical store, and was later featured by us at the ASEAN Investment and Business Summit. So it is also about expanding their capability from local to global,” she added.

--BERNAMA

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