Izxah Azahari
The 10-part BIBD SME360 Series continued with a discussion on small and medium enterprise (SME) opportunities, best practices and future of the energy sector at the Musyawarrah Hall of the International Convention Centre (ICC) in Berakas yesterday.
The forum was held as part of Bank Islam Brunei Darussalam’s (BIBD) support for Energy Week under the Department of Energy at the Prime Minister’s Office (PMO) at the Brunei Mid-Year Conference and Exhibition (Brunei MYCE 2022).
Deputy Permanent Secretary of the Department of Energy at the PMO Pengiran Haji Jamra Weira bin Pengiran Haji Petra attended the morning session.
The morning session ‘Ticket to Brunei’s Energy Sector’ aimed at giving SMEs a better idea of the entry requirements to provide products and services to the major oil and gas companies in the Sultanate.
Panel speakers included Head of Energy In-Country Value (EICV) at the Department of Energy at the PMO Romeo Wee Edong; Finance and Compliance Manager at TotalEnergies EP (Brunei) BV Hafizah Bakar; Contracts and Procurement Manager at Brunei LNG Hajah Sujanatulwati binti Haji Minudin; and Contracts and Procurement Manager at Brunei Gas Carriers Pengiran Dianawaty binti Pengiran Haji Matzin.
The panellists discussed the policies, rules and regulations regarding tenders, standards, price, quality and speed expectations for SMEs looking to participate in the oil and gas sector.
The session also looked at some myths and misconceptions about the oil and gas industry, gave a better picture of the standards and culture in the oil and gas ecosystem and highlighted key areas of needs, solutions, opportunities and objectives in each of their organisation’s short and long term goals so that service provides would be able to align themselves accordingly.
‘SME Opportunities in Sustainable Energy and Solutions’ explored the concept of sustainable energies and its importance for the future. The panel speakers were Head of the Sustainable Energy Division at the Department of Energy at the PMO Noor Dina Zharina binti Haji Yahya; Managing Director of CIC Environmental Services Daniel Wong; and BIBD Chief Financial Officer Tan Pheng Leong.
The speakers shared their insights on the tangible benefits, incentives, funding and support available from authorities, financial institutions and energy players to encourage SME’s to pursue this development.
The SME360 Forum on the Energy Sector continued in the afternoon, sharing insights from SME champions from the energy sector.
The session featured established players with experience as service providers for local oil and gas players, and was aimed at sharing insights and best practices for SMEs looking to penetrate the industry.
The speakers provided an insight on the culture, standards and business expectations in the energy sector and explored some of the key factors of success for their businesses, as well as lessons from some of the challenges they experienced over the years.
The discussion was led by General Manager (Engineering Services) of Serikandi Dato Paduka Haji Jamain bin Haji Julaihi; General Manager of SPHI Marine Sdn Bhd Haji Ibrahim Khalili bin Pehin Dato Haji Abdul Rahman; Director of Operations for Brudesh Engineering and Management Malai Izzat Faris bin Malai Haji Abdul Hamid; and Managing Director of Esca Marine Mashriem Taufik.
The final session saw the participation of Acting CEO of Darussalam Enterprise (DARe) Daniel Leong; General Manager of Shell Brunei Martin Adema; and Managing Director of Rukun Al Yaqeen Brunei Haji Zakaria Aziz with BIBD Head of Structured Finance Azim Mohammad as the moderator.
The panellists explored the future of local SMEs in the energy industry, especially as technology continues to advance and the world moves towards more sustainable and transitional energy sources.
The speakers looked into how SMEs could potentially explore growth beyond Brunei’s borders towards regional or international growth. They also drew upon their experience to discuss the actions required for the SMEs to secure continuous growth and prosperity amidst heightened changes in the worldwide socio-economic and geopolitical environment in the next decade.
The topics discussed were in line with BIBD’s effort to help SMEs recover sustainably following the COVID-19 outbreak in the Sultanate. It is also part of BIBD’s commitment to educate and bring awareness on areas where businesses can learn how to carry out more environmentally-conscious business practices – all within the three pillars of the BIBD Sustainability Framework, in this particular, Responsible Entrepreneurship.
