Business

Tuesday August 11, 2009

Branding Association wants RM100m more yearly for brand building


KUALA LUMPUR: Branding Association of Malaysia (BAM) has urged the Government to inject new capital of RM100mil annually into the Brand Promotion Grant to help local brands grow globally.

President Datuk Lewre Lew said the association had written to the Finance Ministry for financial assistance to help the local emerging brands become global players.

“The allocation can be in the form of grant, soft loan or even educational funds for workshops,” he told a press conference at the installation of BAM’s 2009/2012 executive committee yesterday.

Datuk Lewre Lew

Deputy president Eric Chong said the association hoped for some good news in the coming Budget 2010.

He said funds amounting to RM200mil under the Brand Promotion Grant had been provided by Malaysia External Trade Development Corp in 2003.

“The amount is depleting, so we urge the Government to inject new capital ,” he said.

Lew said branding was about the brand identity and not about advertising, and companies had to deliver the promise of their brands to emerge stronger.

“We cannot just compete in term of prices, services and products alone; we have to compete through innovation and creativity in our branding exercise as well,” he said.

He said that although the branding awareness was not high in Malaysia it was growing.

“Our association is organising workshops and getting Government support to educate local companies in branding and promoting the importance of branding,” he said.

Established in 2000, BAM currently has about 250 members.

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