Malayan Banking Bhd (Maybank) and TikTok Shop Malaysia have signed an MOU to launch the ASEAN SME Upskilling and Digitalization Program.
The program starts with a pilot in Malaysia, featuring a webinar, workshop, and a six-month accelerator. Participants will receive mentoring from Maybank and TikTok Shop, with personalized goals to boost their online business skills.
The first batch will focus on women entrepreneurs under Maybank’s HERpower initiative. Currently, women-led SMEs make up 20% of all SMEs in Malaysia and Maybank aims to increase this to 25% by 2026.
Through HERpower, Maybank provides funding, mentorship, and business support for women entrepreneurs.
“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,” Syed Ahmad Taufik Albar, Group chief executive officer of community financial services.
Read also – Equinix has Issued its First Green Bonds in Singapore, Raising $375Million to Support Sustainability Efforts
TikTok Shop Malaysia’s strategic partnerships director, Nur Azre Abdul Aziz, said the platform supports SMEs not just with numbers but also by boosting their visibility and social media reach.
“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.
This collaboration with TikTok Shop further helps SMEs gain social media exposure and expand beyond local markets. Over the next year, similar programs will be introduced in other ASEAN countries, tailored to local business needs.
The initiative aligns with it’s M25+ strategy, promoting sustainable business growth through digital transformation.
About Maybank Group
Maybank Group is the leading financial services provider in Malaysia catering to the needs of consumers, investors, entrepreneurs, non-profit organisations and corporations. The Group, which has expanded internationally, has the largest network among Malaysian banks of over 2,400 branches and offices in 20 countries, employing over 44,000 Maybankers and serving over 22 million customers. It is the only regional bank with a presence in all 10 ASEAN countries (as of November 2016).
