Open For Business

Founded in 2022, Patriot Biotech describes itself as a group of scientists, inventors, innovators and entrepreneurs who want to bring molecular-based biotechnology to the masses in Malaysia and the world, while nurturing and building local talent and technology.

Today on Open For Business, we explore the ambitions of this startup, their focus on genomics and its applications to aquaculture and value to academia and universities in Malaysia. We’ll also explore Gan's journey to Australia and back, and how that’s informed the way he’s built Patriot Biotech, why he left academia and a stable career, and how he’s built a bootstrapped and profitable business.

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“If there is a time to start a business, it is now, while we’re young.”

A lunch between co-workers in their mid-20s in 2014 turned into a startup that has raised RM46 million, is now close to profitability, and wants to generate RM80-90 million in revenue in 2024 powered by its growth in Indonesia.

In 2014, 5 months after an initial discussion over lunch in 2014, Goh Chee Hau and Nadhir Ashafiq started TheLorry. The goal was to connect drivers and their vehicles with business and consumer transport and logistics jobs, with the vision that this would all be powered by proprietary tracking, route optimization and payments technology.

With just a handful of drivers in the early days, today TheLorry is present in 4 countries in the region, namely Malaysia, Singapore, Thailand, and Indonesia, and partners more than 7,000 drivers who provide services like professional house moving, furniture dismantling and disposing, and B2B logistics.

The startup is no stranger to funding rounds. Back in 2016, it raised US$1.5 million in its Series A round, close to RM24 million in its Series B funding round in 2019, and most recently, RM4.1 million through ECF on pitchIN last year.

On this episode of Open For Business, you will learn about TheLorry’s origins and ambitions, their evolution over the last decade, and what the path ahead looks like for this Malaysian-born startup.

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In this episode of Open For Business, we venture into the advanced field of technology, focusing on engineering, manufacturing and product development with Projet Technology — a company founded out of a passion for tackling the complex challenges within its industry.

From reducing lead times and managing resource constraints to facilitating high mix low volume orders, Projet Technology is on a path to transform manufacturing for multiple industries including E&E/Semiconductor, Medical, and Aerospace.

We speak to Allen Tan, Founder & Managing Director, and Co-Founder Lua Yew Jin, of Projet Technology.

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In this episode, we speak with Dhawal Shah, Regional Managing Director and Co-founder of 2Stallions, a boutique digital marketing agency with headquarters in Singapore and teams across Malaysia, Indonesia, Thailand, and India.

Started with his schoolmate-turned-university friend Razy back in 2012, 2Stallions has spent over the last decade providing small businesses with digital marketing services to help them compete with the big guns without a big marketing budget. Among other things, the firm provides client-centric digital marketing solutions — from SEO, SEM, and Performance Marketing to Social Media Marketing and Website Development.

Along the course of this conversation, Dhawal gives us a sense of how his love for coding shaped his career and eventually led to starting up 2Stallions, what makes their business model unique in a competitive market as well as what’s in store for the company since the revamp back in April.

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We explore IWG Malaysia's ambitious expansion as they gear up to launch four new workspaces in the country. Two of these new centres will be situated in the Klang Valley, while the other two will find their home in Johor Bahru, catering to the growing community of hybrid workers. These new locations, representing Regus and HQ, will enhance IWG Malaysia's portfolio, providing a diverse range of workspace solutions to support businesses in their hybrid work arrangements. The launch, set between April and September, will further strengthen IWG's global presence, adding to its network of over 4,000 locations in 120 countries. Tune in as we uncover how these workspaces align with Malaysia's push for more employee-friendly models, offering insights into how IWG's expansion will shape the future of flexible work environments.

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“And I took that personally”. That was how the eccentric founder of Tokpork, Phon Yung Hou, felt when he was making RM300 a day in sales which paled in comparison to the others around him at Restoran Yum Me Place. There may have been a tease or two from the business owners around him that Tokpork was more hobby than business.

Phon wasn’t always in the business of selling Nasi Lemak, but with the support from his former boss Leon Foong, the former Uber Malaysia boss and then SOCAR Malaysia CEO, he eventually got into the nasi lemak business, after testing a few other food ideas. With Leon helping Phon with the stall deposit, Phon used his last pay-check from SOCAR as working capital and set up shop at a kopitiam in the Bukit Damansara, which he still operates from today. 

Things were tough at the start, but as he says in this conversion, “it’s about the game” and he wanted to continue to play it. In the early days Phon was only making RM300 a day in sales, but this all changed following a KL Foodie video which ignited his business. The morning after the video was released, Phon was sold out before lunch, even after preparing extra food.

In this episode, you will hear about the origins of this business in more detail and why he gave up his career to go into the ever challenging food business. We’ll also explore his larger ambitions, why he wants to go into entertainment (and what he means by that), and the long term ambitions to build Tokpork and eventually sell it.

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Connecting SMEs to investors, Capsphere claims that it sets itself apart from other similar players because each loan is asset-backed, or secured by an asset. Founded in 2016, the company targets businesses that have been in operations for over 1 year, with assets that can be used to secure the loan such as industrial equipment or even contracts.

Last financial year the firm generated RM355,000 in revenue on the back around RM6 million in new loans disbursed over 88 loan/notes. Looking ahead, the P2P financing platform aims to double revenue in FY2024 and again in FY2025, taking it to RM1.4 million, where it currently projects it will get to profitability.

In this episode of Open For Business, we dive into this venture’s origins and whether this model has enough of a differentiation in the P2P financing space to thrive. We’ll also dive into some of those targets and how they’re going to achieve them, as well as other ambitions ahead.

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Transitioning from corporate careers in the United States of America to building a transformative business here in Malaysia, Carmen Khor and Jeremy Andrus exemplify resilience and unwavering commitment through their journey as the founders of Libra Wellness.

They have created a beauty and wellness brand that champions mental well-being while curating sustainable and high-quality products with the guide of 3 simple principles, “to remember, to celebrate, and to care for”.

In this episode, we speak with Jeremy Andrus, Founder & CEO, and Carmen Khor, Co-Founder & Brand Director, of Libra Wellness, on their inspiring journey transitioning from PR careers in America to launching the ethical beauty brand in Malaysia. They share how they navigated challenges by holding fast to their principles of remembering their "why," celebrating wins, and prioritising self-care to maintain passion.

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KL Tech City is a venture studio that predominantly focuses on providing early stage capital for emerging technologies like Blockchain, Fintech, EV, Cleantech, and Digital trading platforms.

Apart from just providing startups with capital, they also offer supporting services including networking, strategic partnerships, and mentorship, and claim that since they invest proprietary capital, they are able to retain a dynamic and flexible approach to portfolio management.

KL Tech City says it wants to enable and power KL as an interconnected regional hub for Asia, bringing in new disruptive technologies, global talent, and investments into Malaysia.

Today we speak with Suraj and Asad about what this entails and why they are focused on KL, their investment strategy, and targets for 2024.

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Back in 2016, the e-commerce scene was just beginning to harness the full potential of online and mobile commerce, and social media marketing. Online shopping was popular but still competing with brick-and-mortar preferences in many markets, unlike the widespread adoption that we see right now.

PTT Outdoor boldly ventured where few dared. Embracing the World Wide Web as its sole marketplace, PTT Outdoor set out with a backpack full of ambition and a trail map drawn in digital ink. Today, this adventurous spirit has carved a niche for the company as a pioneer in the e-commerce landscape, selling outdoor gear to a community of enthusiasts who were just a click away from gearing up for their next big adventure.

On the Open For Business show today, we speak with Mike Chu and Jason Khoo, Co-Founders of PTT Outdoor, an outdoor camping and hiking equipment company about establishing and sustaining a successful e-commerce business. 

The duo will share insights on what works and what doesn’t when moving your business online, including the importance of adapting to new platforms like TikTok live and targeting specific audiences. They will also be highlighting their journey of maintaining a purely online business, and making strategic decisions in a constantly evolving digital landscape.

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Like many founders, entrepreneurship wasn’t in the plans for Selina – she always wanted to become a doctor, and the dream was to become an Intensive Care Unit specialist. Unfortunately that dream came to an end around 8 years ago after she experienced a slipped disc, but reportedly didn't have the support she needed to recover.

She told the Vulcan Post that when she asked to be assigned lighter duties for three months as she healed, she was told she did not have a future in the anaesthesiology and ICU departments anymore, and that she should just leave and find something else to do. And this eventually led to Disruptive Doctors, a platform for doctors to connect with other like-minded doctors within the community, find mentors within their sector, upskill themselves through their academy, and find jobs.

We speak to Dr. Selina Chew to dive further into her entrepreneurial story, the shift from doctor to startup founder, the business potential here, and her ambitions ahead for this platform.

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Today on the show, we speak with Manickavasagam Palaniandy, Founder of Lean Partner–they’re a boutique consulting firm that specialises in Agile Operation Transformational Management, providing consultations in operational excellence, as well as training & certifications.

Lean Partner was founded back in 2013 and they have executed more than 2800 projects delivering more than US$ 100 million of total value with a client portfolio of over 200 organisations.

This includes the likes of Fortune 500 companies, government agencies, and government-linked corporations across multiple countries in both the ASEAN and European regions that achieve a minimum of 10x ROI.

In today’s discussion, Manicka shares his 24 years of experience in the industry, emphasising on Lean Partner's commitment to driving growth and digitalisation in various industries, and how their unique approach to consultancy sets them apart in a competitive field.

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Founded in 2014, Bateriku.com wants to list in 2027, hit revenue of RM170 million in 2024, and continue to expand its margins and profitability.

On this episode of Open For Business, we speak to Founder and CEO Azarol Faizi about the 10 years journey and how his previous OEM business led to Bateriku.com, the evolution from car battery replacement service to an ecosystem, its plans for growth and how to expand margins, how the funds raised will be used, and its 2027 IPO aims.

Bateriku.com started as an on-demand car battery replacement service provider in Malaysia and has evolved into an ecosystem that connects car users to roadside assistance, trusted workshops, auto parts marketplace and ancillary services.

The company has served close to 1.5 million car owners and made RM95 million revenue in 2023, clocking in double-digit EBITDA and single-digit Profit After Tax (PAT). Bateriku expects to hit RM170 million this year.

Announced on April 1st, Bateriku.com successfully raised RM10.1 million in funding through a joint investment by VentureTECH and VentureTECH SBI, as part of a RM37 million funding round. Other investors for this round include KWAP and Gobi Partners. This was only their second round in 10 years of business. The first external funding round was an RM10 million round in 2022 from Malaysian Technology Development Corporation (MTDC), a wholly-owned subsidiary of Khazanah Nasional Berhad.

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Today on Open For Business, we speak with Keith Loh, CEO of Rollti, a local startup that runs a grab-and-go concept restaurant that offers a fresh take on Malaysia's beloved Roti Canai.

Rollti prides itself on its innovative approach, featuring an automated roti canai pressing system, together with a customisable drinks station.

Their journey began with the success of their first outlet at Starling Mall, Damansara, serving over 30,000 wraps to date. Last February, Rollti celebrated the grand opening of their flagship outlet at Nu Sentral, Kuala Lumpur.

On the show today, Keith gave us a sense on the concept of starting up a contemporary culinary store, the current products and services available at Rolti, the challenges faced in the F&B industry, and their foreseeable expansion plans moving forward.

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Founded in 2006, Easybook.com started off as a platform that sold bus tickets in Malaysia and Singapore but has since grown operations regionally. Last year it made RM300 million in revenue and RM10 million in net profit, with aims to hit RM500 million in revenue and RM30 million in profit this year.

The company has raised a total fund of USD$8.5 million over 3 rounds. The first was a $500,000 round, followed by a USD$3 million round. Then in 2021, the company raised US$ 5 million Series C round from Malaysia boutique investment firm, Emissary Capital and utilised the new funds to invest in the business but also to get through the pandemic.

Easybook is focused on maintaining its first mover advantage in this space with continued expansion into Indonesia and Vietnam, and is also preparing itself for an IPO - with the company scouting for listing locations that will provide it the best valuation.

In this episode of Open For Business, dive into Easybook's origins as a pet project back in 2006 and the 18 year journey that William has been on, how the business has changed as the internet economy grew, its competitive advantage in this space, the underlying business itself, and IPO thoughts.

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In today's rapidly evolving job market, traditional methods of securing part-time work, such as word-of-mouth referrals or classified ads, are becoming increasingly outdated. Many individuals, particularly younger generations, face challenges in finding part-time opportunities that match their schedules, skills, and preferences.

Through Get Hyred, employers can easily recruit individuals for various divisions within their companies, all within proximity. Additionally, the platform enables users to earn skill badges by completing part-time jobs or engaging in training sessions, fostering financial and professional independence.

Today on the show, we speak with Muthalib to look into how Get Hyred has modernized talent development in Malaysia, highlighting the uniqueness of their business model and sharing their plans for 2024 and beyond.

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OpenAcademy is the education arm of marketing-tech consultancy OpenMinds, and is trying to bridge the gap between academic learning and real-world skills through microlearning principles.

The platform allows individuals to take 5-minute lessons in the hopes of upskilling learners on the go and covers a wide range of topics including digital marketing, website optimisation, content creation, and more.

Similar to MasterClass or Skillshare, the lessons are delivered by industry experts, with OpenAcademy leaning on local experts, aiming to make it more relevant and engaging.

Today we explore why a mar-tech company started an online education platform, why Celine decided to lead the initiative, how they're incentivising local subject matter experts to become creators on their platform, the current state of the business, and how Open Academy wants to influence the future of education.

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Today on the show, we take a look at some of the innovative strides in sustainable waste management with Mah Jun Kit, Founder and CEO of BioLoop, a pioneering startup transforming Malaysia’s palm oil waste landscape.

BioLoop utilises Black Soldier Fly Larvae (BSFL) to convert organic waste into valuable protein for aquaculture and animal feeds, significantly reducing ecological damage and greenhouse gas emissions. With over 8000 metric tons of waste processed, BioLoop not only enhances Malaysia’s environmental sustainability but also boosts its economy by creating new jobs and producing organic fertilisers.

Along the course of the conversation, Jun Kit will be helping us digest the global potential of BSFL technology and its economic and environmental impact, how Bioloop is unique in this market and what’s in the pipeline for this BSFL solutions enterprise to help Malaysia position itself as a leader in sustainable agriculture.

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Founded in 2007, Web Bytes is a software development company that specialises in software solutions for the retail and food and beverage (F&B) industries, and is 38% owned by GD Express Carrier Bhd (GDeX).

The company began as a small project attempting to reinvent retail software and yet today, it is a RM30 million business with customers such as F&B brands such as ZUS Coffee and Gigi Coffee, as well as retailers such as The Body Shop.

With over 5,000 retail merchants across Southeast Asia and billions of dollars worth of retail transactions per year, today we dive into how Web Bytes has evolved over the last 17 years, the value they bring to the retail & F&B space, how they are positioning themselves to leverage AI and Machine Learning in the retail tech space, and much more.

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“Fashion retail is not a Silicon Valley story”.

Jenn’s Wanderlust + Co journey began back in 2010 in her apartment in Melbourne, powered by a WordPress website, self-made graphic designs, and about RM10,000 in startup money. Today her Wanderlust + Co products are present in nearly 30 countries, making over 70% of its revenue from foreign markets, and has been worn by the likes of Gigi Hadid, Kendall Jenner and Selena Gomez.

On this episode of Open For Business, we dive into the 14 year journey that Jenn Low has been on, from how she started the business to when it stopped being a side hustle and how she grew it into a 7-figure business.

Among other things, we also get into how influencer marketing played into the success of the business, how Instagram and later TikTok changed the game, why she didn’t raise any external funding, the brand’s push into physical retail, her ambitions ahead, and key lessons learnt along the way as an entrepreneur.

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While technological advancements and immersive multiplayer experiences make gaming a popular leisure activity, excessive screen time poses risks to children's mental health, including addiction, diminished focus, and social skill deficiencies.

To address these concerns, Bomb Battle, a team-building escape room game company introduces Bomb Battle Elite, Malaysia's newest family entertainment attraction. Spanning over 6000 square feet, it offers four innovative games with 10 missions and 50 modes across three difficulty levels, suitable for young kids and adolescents.

With that, joining us in the studio today is Datin Sheehan Tee, Founder of Bomb Battle, to discuss the inspiration behind their interactive escape room style game, their unique position in the market, and their foreseeable future plans moving forward.

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Malaysian startup Finalyst wants to help financial planners, insurance agents, and unit trust consultants improve sales conversions and better manage their relationships with clients through their financial planning platform.

With a focus on simplicity, Finalyst says that the platform supports industry players by providing personalised financial plans. That said, this isn’t the first or only product in the market to try and address this. So what makes them stand out from other solutions already in the market or will shield them from better funded players who come in later?

We explore this and much more in this episode of Open For Business. We also get into Finalyst’ origins, the team behind it, how they built Finalyst, and ambitions ahead.

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Today on the show, we’re diving into the realm of Extended Reality (XR) with Theyventhiran Nadarajah, CEO, & Jayagaren Paramasivam, CTO, Teczo Sdn Bhd . They are a technology company that provides cutting-edge Augmented Reality (AR) and Virtual Reality (VR) applications, mobile applications, metaverse development, digital twin solutions, advanced visualisation techniques, and analytics tools.

Founded back in 2021, Teczo has swiftly emerged as a pivotal player in the digital transformation landscape. With industries across the ecosystem rapidly gravitating towards digitalisation, Teczo has positioned itself as a trusted partner for organisations seeking to harness the power of technology.

Some of their services include XR apps, IoT solutions, data management and software training. These services are provided for businesses in diverse sectors such as Banking and Finance, Insurance, Healthcare, Legal, Logistics, and Education.

Along the course of our conversation, Thevyen & Jaya helped us break down the story behind Teczo, the development process of their innovative solution known as ConstructXR and what the company has in store moving forward.

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Shopmatic is a global e-commerce platform that empowers merchants to build and grow their businesses online. The company was acquired by global embedded finance firm MatchMove in 2022 in a deal worth $200 million US Dollars, enabling MatchMove to provide its Banking-as-a-Service capabilities to Shopmatic’s ecosystem of over a million e-commerce SME customers.

2 years after the deal, we speak to Nicole about her switch in role from Chief of People at MatchMove to Shopmatic’s COO, why MatchMove made the acquisition and the post-acquisition integration process, and Shopmatic’s future.

Photo Credit: Shutterstock

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On this episode of Open For Business, we dive into an increasingly crucial topic within the bustling construction sector of Malaysia— safety on the job site. In an industry that is as dynamic as it is hazardous, innovative solutions are not just welcome; they're necessary.

We are joined by Frank Tan, the Co-Founder of Nuri IoT, a company at the forefront of this safety revolution with their groundbreaking smart helmet. This piece of technology is not just a hard hat, it's a sophisticated blend of Internet of Things technology, aimed at drastically reducing common yet avoidable accidents.

Photo Credit: Shutterstock

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Founded in 2022, this Malaysian startup wants to help brands connect with their audience by transforming everyday vehicles into mobile billboards, while empowering car owners to earn while they drive, effectively turning KM into RM.

Having made RM800,000 in revenue in 2023, Carching is targeting RM3 million this year, while looking to raise a seed funding round of RM 2 million to power that growth, but also build out the team, and develop new products.

Today we explore Carching’s origins and what brought Jeshua into entrepreneurship, how he’s navigating a space that has seen the demise of other players, as well as potential competition from other media players and Grab. We also get into possible exit scenarios, goals for the next 5 years,, and his vision for the future of this startup.

Additionally, Jeshua doesn’t have a co-founder. We explore why and what he’s potentially looking for in one.

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In today’s fast-paced world, the dark shadow of fake certifications looms large, threatening not just the credibility of individuals but also the very foundations of our educational and professional institutions, as well as industrial certifications.

To combat and address this, Malaysian startup Certiify Solutions is on a mission to safeguard the sanctity of certifications through the power of blockchain technology.

We dive into how Certiify uses blockchain to power its solution and the depth of the problem that Norlisa wants to address, as well as explore the company's origin story and journey, where they are in their product-market fit journey and go to market strategy, and what comes next.

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We speak with Fadz Subari about how childhood memories led him to establish a homegrown aromacare brand celebrated for its artisanal scents, crafted from Malaysian herbs and plants. We will also look into their initiatives to expand globally while championing Malaysian ingredients and sustainable practices, hear about their innovative AI-driven approach to creating personalised scents, and discuss their upcoming plans for the “Scents For Every Soul” app.

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After leaving a lucrative career selling insurance policies, Peter took a leap into the world of new media in late 2018 and started Mr. Money TV. The mission: to demystify the complex world of finance for the average Malaysian through accessible and engaging content. However this move was not without its risks.

From the early days of balancing multiple jobs to keep the venture alive to their 177,000 subscribers on the main YouTube, on this edition of Open For Business we explore the inception and growth of Mr. Money TV along with Peter's ambitions for the future, and appetite to build a new media network.

On top of this, we will also dive into how he's managing the ever evolving new media landscape while trying to create a sustainable business model.

Mr. Money TV is a financial literacy media brand owned by Finlit Media Tech Group.

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In this episode of Open For Business, we speak with Isaac Kon, the CEO and Founder, as well as Wong Weng Khing, Chief Technology Officer (CTO) and Co-founder of Heytech Sdn Bhd. They are a Malaysian-based talent and casting business founded in 2022, who came up with a casting/hiring platform known as Heycast.me.

Built in the early days of 2023, Heycast was designed to digitally connect talents with brands and agencies in the entertainment industry. The brand’s focus is to eliminate excessive commission cuts by skipping third-party avenues to ensure fairness and transparency in job compensation.

Over the course of the conversation, Isaac and Khing will help us get a better understanding on how Heycast was formed and built, the role of this platform in hiring acting talents, as well as the ongoing challenges within the casting industry that Heytech is planning to resolve with their platform.

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Founded back in November 2023, VIDANEX is the first spin-off company of IMU (also formerly known as International Medical University), with a mission to help digitalise the healthcare space and integrate AI with medical imaging solutions.

From pancreatic to breast cancer and more, this homegrown university spinoff says that its AI-driven insights will empower clinicians to make informed decisions, ultimately improving patient outcomes and ushering in a new era of precision in medicine and patient-centric care.

On top of that, their solution is supposed to help digitalise healthcare by enabling clinicians to transition seamlessly from traditional to modern processes, optimizing efficiency and improving patient care.

All of that sounds inevitably great, but what does it actually mean, look, and feel like in the real world? Well, that is something we will get into, along with the exploration of Dr. Elaine and Daniel's backgrounds, including how they came together to do this.

We also discuss the genesis of their venture and its commercialisation journey, where they are currently on their engagements with the government, and the future aspirations that drive Vidanex.

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Today on Open For Business, we speak with Keith Lester Tang, the Founder of Streetpaw, a Malaysian based company that sells pet meals, bone broths and merchandise to earn a sustainable income in their journey to support stray animals.

Over the course of the conversation, Keith will help us get a better picture on Streetpaw’s unique business model, the challenges they had to pull through from the pandemic, foreseeable expansion plans into other SEA markets, and what the future has in store for Streetpaw in 2024.

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Ex-Zalora CEO, Michele Ferrario did not want to become an entrepreneur but had a need that nobody could provide for here in the region. Despite 124 pre-launch rejections from early-stage investors, he went about trying to build it himself and Stashaway was then born.

Commonly known as robo-advisors, digital wealth managers or digital investment managers as they are known here in Malaysia, were an exciting development in the financial industry with pioneers such as Wealthfront and Betterment leading the charge 15-16 years ago, pushing the idea of making investing cheaper, easier, and more accessible. That said, the industry has struggled to find a profitable footing, with some players in the US having to adjust or pivot their models in order to make it work.

In this episode of Open For Business, we dive into how Stashaway is navigating this challenge, whether their business model actually works, and if so, what is going to get them in the black. Before that, we take a look back in 2016 and find out why the now-former CEO of Zalora switched industries and jumped into the world of wealth management, how Michele and his co-founders built Stashaway, and the key lessons he has learned from the 8 year journey with the company.

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Natureloop is a KL-based company that specialises in designing and manufacturing products made from plastic waste. Instead of being discarded, Natureloop transforms plastic waste into new products such as coasters, customisable plant pots, as well as medals and trophies.

Today on Open For Business, we speak with Brandon Chong Chee Wing, the Founder of Natureloop to breakdown their mission of turning plastic waste into a sustainable resource and signifying the company’s dedication to its quality and responsibility in the pursuit of not just creating products, but also making a positive impact on the planet.

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The Rainmakers wants to make property investing more accessible to retail investors, helping them get a fractional slice of property ownership without the typical financial strains that come with property investing.

Having raised RM620,000 in pre-seed capital, The Rainmakers are trying to raise a seed round of RM1.2 million at a pre-money valuation of RM 6 million through equity crowdfunding platform Leet Capital. They’re offering 16.67% of the company and the post-money valuation is expected to be RM7.2 million.

In this episode of Open For Business, we will delve into why The Rainmakers is raising these new funds, the motivations behind Kelv’s ambitions to make property investing more accessible, and how they’re going to make this business model work.

Note: At the top of the fundraising page is a disclaimer that reads:

G Gen Labs Sdn Bhd engages in securities-related activities and is required to obtain a license from the Securities Commission (SC). Failure to secure this license may adversely affect their business operations. Please note that Leet Capital and its affiliated companies cannot assure or guarantee that G Gen Labs Sdn Bhd will ultimately obtain the required license from the Securities Commission of Malaysia.

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Founded in 2017, Parcel Daily is a courier aggregator platform that helps optimise courier shipping cost and improve the shipping experience by connecting e-commerce businesses, big and small, with their network of service providers, such as DHL, PosLaju, and Ninjavan, among many others.

To date, they have processed more than 5 million parcels and have provided shipping solutions to more than 5000 customers, and on this edition of Open For Business we journey back to their origins 7 years ago and how they built this asset light platform, the value-add this provides to the e-commerce industry, and what lies ahead for this.

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Since their establishment in 2017, TTRacing is a gaming chair company that provides high-quality ergonomic gaming chairs and has been rapidly expanding across SouthEast Asia with stores in Malaysia, Singapore and Philippines. They are now looking at further expansion into other SEA countries including Thailand, Vietnam and Indonesia.

In this episode of Open For Business, we speak with Henry Ting, Founder and CEO at TTRacing, to breakdown what motivated him to start a gaming chair company, how have they grown and become widely renowned in SEA over the last 7 years, and what can be expected for the company’s growth in 2024 and beyond.

Photo Credit: Shutterstock

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Formerly known as Incite Foodtech, Incite Innovations Group was founded in 2020 and has seen M&A and corporate restructuring over the last few years to strengthen the business and its balance sheet so that it could go out and raise more funding as it geared up for a targeted 2024 IPO.

Today, in its consolidated, re-branded form, Incite Innovation has three core verticals, Fintech, Retail Management, and Lifestyle Ventures, which it believes can help drive business growth and efficiency in retail and food and beverage (F&B) sectors in Southeast Asia.

From fundraising and business financing, to POS systems and F&B brands like Union Coffee and WonderMama, on this episode of Open For Business, you will learn why Incite Innovation went through all this corporate restructuring and how they’re integrating these 3 core verticals, what the rebrand signals ahead, and how they’re gearing up for their IPO.

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Today on the show, we spoke with Caleen Caseryn Chua, Founder of Enliven Women, the first ever transformation event designed to uplift the spirits of women. 

Coming from a finance background and formerly owning a chain of restaurants, Caleen has gone back to reliving her passion in giving back to the society by the form of yoga and mindfulness, as most of you would have heard with the Yoga For Mums event.

Over the course of the conversation, Caleen will help us break down the struggles and personal challenges she had to pull through, the shift from owning an F&B business to reliving her passion and her future plans in 2024 and beyond.

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With a bootstraped investment of RM868,000 since its establishment in 2019, Secondlifeasia, Malaysia’s largest smart device repair company, records an inclining growth of 424% year on year, and is expecting to hit an annual revenue of RM 7.0 million this year. Secondlifeasia is an Independent Repair Provider (IRP) with genuine parts and diagnostic tools sourced from Apple, as well as being a Realme Authorized Service Center for a wide range of devices, including Internet of Things (IoT) devices

Back in February, the company announced its expansion to Thailand, through a joint venture with Appidea, a technology and software development company, with an initial investment of USD250,000 and this will see Secondlifeasia setting up a total of 3 brick-and-mortar outlets in Thailand by the end of 2024. 

Today on Open For Business, we spoke to Jerome Teh, CEO & Co-Founder and Alan Lee, CTO & Co-founder of Secondlifeasia, to understand the companies growth trajectory since their establishment in 2019, how the business model has evolved particularly with how much technology has developed since the pandemic era and what's in store for the business moving forward. 

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Brokerage firm Malacca Securities was founded just over 60 years ago and Chia Wei got involved with the business back in 2013 after returning from the UK for what was supposed to be a “short visit” due to tightening of working visas.

Following her education at Imperial College London, Chia Wei was working at a luxury brand retail group as a merchandising analyst and had a five-year plan in mind to climb the corporate ladder. She did not have plans to join the family business and yet the story has played out differently.

Today on Open For Business, you will learn why Chia Wei stuck around in Malaysia to join the family business, what she brings to the Malacca Securities' table, including her progressive attitude to digitalisation and technology, and where she intends to lead this brokerage business, in an era define by a ‘fight to the bottom’ for brokerage fees and large international platforms, such as Moomoo, making their way into the Malaysian market.

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Behind the common misconception, pole dancing is generally known for its freedom of expressing feelings through the art of dancing that has evolved over time, from its origins in strip clubs and bars, to a more widely recognised form of fitness and art.

Pole dancing has many different styles, from exotic to sports and there are a plethora of choreographies and dancing movements that one can create and enjoy, whether it's to release stress or to improve one’s fitness and flexibility.

On this episode, we speak to Maple Loo Asaro, Founder of Bobbi’s Studios, a pole dancing studio in Bangsar to discuss the challenges in setting up a pole dancing business and how she managed it through to set up her own studio.

Over the course of the conversation today, Maple helped us to break down the stigma behind pole dancing in Malaysia, how her passion ended up becoming an active business venture and her foreseeable ventures in 2024.

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In a world where sustainability and social impact are top of mind of consumer consciousness, Earth Heir stands out as a beacon of ethical practice and artisanal excellence. Founded by Sasibai Kimis in Malaysia, Earth Heir began with preserving traditional crafts and empowering local artisans through fair trade practices and sustainable sourcing.

After a decade of creating sustainable social impact, it has expanded its mission with the launch of a curated marketplace. As Earth Heir embarks on this new chapter, it aims to further its vision of nurturing the sustainability and social impact ecosystem in Malaysia.

On this episode of Open For Business, we speak with Sasibai Kimis, the Founder and CEO of Earth Heir about its journey in preserving cultural heritage, supporting local artisans and driving a larger movement towards ethical consumerism and responsible business practices that prioritises people and the planet alongside profit.

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After almost 3 decades in the corporate world, specifically within the capital markets and asset management sphere, Rejina Rahim left her job as the Managing Director of Nomura Asset Management Malaysia and founded Wahine Capital during the COVID lockdowns.

Wahine Capital’s main vision is to empower women through financial knowledge and collaborative platforms, serving to revolutionise women's role in the economy, starting with the launch of their first product W Vault in May 2023.

On this episode of Open For Business, we explore Rejina’s move from away from corporate life and lessons learnt during the transition to startup founder and entrepreneur, the mission behind Wahine Capital and future products in the world, and how she plans to support women while building a profitable business.

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Founded in April 2020, MADCash stands for Multiply, Assist, Donate Cash and the startup funds and grows unbanked and underbanked women entrepreneurs, aiming to create an alternative credit scoring to increase their future bankability.

The company runs on a proprietary technological platform that allows donors to contribute and see whom their funds are helping at any time, and enables the seamless process of micro-funding application, approval, onboarding, disbursement and of course - repayment monitoring.

To help take MADCash to the next stage, the startup announced a pre-series A funding round of RM5 million in October. The round was led by Artem Ventures with strong support from MSW Ventures and ScaleUp Founders Fund.

On this episode of Open For Business, you will learn about MADCash’s mission, the business model that powers all this, and what the future holds for the platform.

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Imagine indulging in the ancient golden goodness of turmeric without the worry of sugar or stains—Haldy has made this a reality. Haldy launched a groundbreaking product: the World's First Sugar-free Turmeric Mints. These aren't just any mints; they are a blend of taste, health, and convenience, designed to seamlessly integrate the benefits of turmeric into your daily routine.

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Founded in 2020, Cult Creative started as a networking platform for creative professionals with a stated mission to redefine content creation and foster collaboration.

Today, it is focused on connecting brands with creators and uses technology to help brands find creators that is right for them, streamline workflows, and facilitate creator payments. To help them do this, they recently raised a RM500,000 seed round from The Hive Southeast Asia and is changing up the business model, which saw the closure of its job portal app. They also just won a grant from Cradle on the back of confidence in the new business model.

We speak with Shermaine Wong, CEO and Co-Founder of Cult Creative, to learn about how she plans to deploy the recently secured funds, what this change in business model entails, and where the company goes from here. We also get into the journey that she and her co-founders have been on since starting in the midst of the first MCO back in 2020.

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In the world of sports, golf carries a common misconception of exclusivity and barriers to entry compared to most other sports that we are familiar with. Beyond its serene landscapes, golf is a game that demands skill, strategy, and precision that requires adequate training and a sense of passion for the sport.

With technology reshaping almost all industries including the sports and leisure sector, Wedge, a boutique golf lounge and bar in Kuala Lumpur, is known for its approach to blending golf with technology and social enjoyment.

In their latest venture, Wedge has launched the Wedge Range, a community hub and an indoor golf simulation range with the aim to break down traditional barriers associated with the game of golf, whether one is a seasoned pro or a first-time golfer.

Today on Open For Business, we spoke to Tom Sarginson, Co-Founder and CEO of Wedge, to digest how this all came about, how they efficiently used technology to allow consumers to experience golfing and possible expansion plans for the business in 2024 and beyond.

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Founded in January 2017 by Yen Ming, Wilson Beh and Winnie Chua, PolicyStreet began helping consumers and businesses choose and purchase insurance policies based on their needs and requirements, with the underlying aim of making insurance more affordable, simpler, and transparent.

Fast forward to today, they’re a regional player in the Insurtech space and work with over 40 life, general, and takaful providers globally to offer a comprehensive range of products and services. As of June 2023, PolicyStreet have served over 5 million customers and achieved a sum insured of over US$6 billion (RM27.7 billion) in Malaysia.

They managed to close a US$15.3 million (RM67 million) Series B funding round with Khazanah Nasional Bhd as lead investor last June and earlier this year, the company received the regulatory approval from the Labuan Financial Services Authority (LFSA) to begin its Takaful and Retakaful operations. PolicyStreet is now equipped to reinsure and underwrite Takaful products, providing Syariah-compliant insurance solutions.

Venturing from insurance marketplace platform to financial advisory business, now co-creating and underwriting insurance products, on this episode of Open For Business, we learn about PolicyStreet's journey as a Malaysian Insurtech company over the last 7 years. Diving deeper into how they’re tackling the insurance industry while working with agents and incumbents, exploring what they're looking for in potential strategic partnerships with Khazanah's non-monetary value, and much more.

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Founded in 2015, Carpedia is a gig talent platform for logistic players which aims to play a role as a reliable provider of delivery manpower resources, priding itself on “simple gig jobs almost anyone can do”, requiring nothing more than a valid driving licence, ensuring that work can start within 48 hours of registration.

Given that the gig economy looks to be here to stay, with some estimates putting the number of gig workers at around 4 million here in Malaysia, with a majority being young adults aged 25 to 44, there are plenty of startups and companies that are looking to tap into the opportunity to better facilitate and support the gig economy, including today’s guest.

We speak to Hazim about their role in the gig economy, the business opportunity present here for Carpedia, why he got started with this, and the vision for this startup.

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In today’s world, it’s hard to oversee how fast technology has grown in various businesses and now, it has become a necessity for companies to integrate modern technology into their daily operations, either from having robots in manufacturing or of course, the usage of AI.

One of the pioneers in this space is Neuramatix, a Malaysian based technology service provider. Since their establishment in 2002, Neuramatix have conducted various tech research to develop and commercialise artificial neural network technologies, powered by a neural engine called NeuraBASE.

This company has continued to advocate the study and understanding of the human brain with a focus to enable the development of naturally intelligent systems and machines.

Today on the show, we spoke to Abdul Karim Hercus, Founder & Managing Director at Neuramatix to unpack how they started their venture into AI developments and what the future looks like for this company to keep up with the rapid advancements of modern day technology.

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By 2030, Malaysia is expected to transition into an ageing society, with individuals above age 60 and older to make up 15% of the population - Pacific Senior Living aims to address this market need and the evolving needs of the growing senior population.

The company is part of the Columbia Pacific Management Group, a global investor, developer, and operator of modern healthcare and senior living facilities, and with over 40 years of experience in the space, Pacific, and along with its affiliates, have built and managed hundreds of senior living and other healthcare assets globally.

Marking their entry into Malaysia, in November 2023, they opened up their first high class senior living facility here, repurposing the former four-star Merrida Hotel building in Klang, which ceased operations during the movement control order period.

Three months post-opening, we speak to Dr. Ramnan Jeyasingam, Interim CEO and Director of Health Services at Pacific Senior Living Sdn Bhd about their plans and ambitions for the Malaysian market.

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Founded back in 2020, Meals in Minutes provides frozen, portioned meals tailored for quick and effortless meal preparation, mainly targeted to busy individuals and F&B enterprises across the region.

Recently, as reported by The Business Times, this Malaysian based food startup just secured USD1.5 million in seed funding, notably 500 Global leading the investment.

Today on the show,we spoke to Brandon Lim and Khiara Mia, Co-Founders of Meals in Minutes, a Malaysia-based food startup – to understand the business model for Meals In Minutes, what makes them unique in a competitive market and their possible expansion plans into other industries as well as the foreign market.

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Syrian-born chef Ameer Alzalek’s journey into the culinary world was not always on the cards, but a ripple effect from war that pushed Ameer to leave Syria around 11 years ago. The former accountant from Damascus then found his way to Malaysia, where he says the life in the kitchen chose him as jobs were few and far between.

Ameer explored the culinary scene in Penang and Langkawi, reportedly getting his break at a boutique hotel at Langkawi, before venturing on his own with Leen’s Middle East Kitchen following his experience with Ember Modern Bistro where he refined his view on food. Starting as a pop-up selling charred hummus, today Ameer runs 2 restaurants in TTDI - Leen’s Middle East Kitchen and recently opened up S.A.J Bistronomy by Leen’s.

Today on Open For Business, you will learn more about Ameer’s journey, how he built his culinary career and subsequent restaurants, lessons learnt along the way, and his plans ahead.

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In 2023 alone, investments in robotics soared to $12.9 billion, underscoring the promising outlook for the global autonomous mobile robots industry and DF Automation looks primed to ride this wave and is currently raising funds to do so. Founded in 2012, Johor-based DF Automation specialises in producing Autonomous Mobile Robot and Automated Guided Vehicle solutions with clear objectives: Optimise workflow, enhance productivity, and slash operational costs.

This year marks DF Automation’s 12th year in the industry to support their growth ambitions, they are offering between 3.6% to 9% of the company to raise between RM3 million and RM8 million on equity crowdfunding platform pitchIN. This follows a RM3 million raise on the platform back in 2019. As of 14th of February, they have achieved 43% of the funding target, valued at RM1,285,716.

We speak to Dr Yeong Che Fai, the Chairman and Co-founder of DF Automation & Robotics to get a better understanding of the value and potential of the robotics industry, and their origins and ambitions, as well as plans for the funds they are currently raising.

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We're exploring the vibrant and essential world of aquaculture, a sector that's at the forefront of sustainable food production and marine conservation. In the heart of Malaysia, YHL Aquatic is redefining this industry with its eco-friendly and innovative approach to farming marine life, particularly shrimp and oysters.

Embracing advanced biotechnologies and sustainable methods, YHL Aquatic is not just about providing high-quality seafood; it's about preserving our oceans and ensuring food security for future generations. This company's story is one of vision, innovation, and commitment to the planet.

Joining us today is Low Yuan Heng, the founder and Managing Director of YHL Aquatic, here to share the inspiring story behind this pioneering venture.

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DoctorOnCall was founded by former management consultants Maran Virumandi and ex-colleague Hazwan Najib, with their entrepreneurship journey starting in 2015 before officially launching in May 2016.

A key problem that they initially looked to target was to support doctors and GPs in saturated major cities by helping them expand beyond the geographical boundaries of their clinic to service patients through video or voice call, therefore allowing the doctors and GPs to maximise their time and generate revenue.

Aside from trying to help doctors on the business side, DoctorOnCall is tapping into telemedicine in a bid to help improve accessibility to health care providers. Today the platform provides online medical consultation, delivers medication through its online pharmacy, hosts a medical specialist search and booking engine and features health articles and a medical information database, among other things.

On this episode of Open For Business, you will learn about DoctorOnCall’s 8 year journey and where they stand today, the role that digital health and telemedicine can play in the healthcare ecosystem, as well as what Maran’s ambitions for this company look like ahead.

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Founded in 2015 by Giden Lim and Penny Choo, BloomThis wanted to address the gaps in the floristry industry observed by the husband-wife duo, including boring floral designs, poor customer experience, and a lacklustre buying and delivery experience.

BloomThis started off as a flower subscription service but evolved into a full-on online gifting store, and has even ventured into the physical world with the opening of 3 brick-and-mortar stores.

We speak to Giden Lim, the CEO and co-founder of BloomThis, about the brand’s journey spanning the past nine years, delving into the company’s evolution, the recent expansion into physical stores, the intricacies of navigating the flower industry, why Bloomthis prioritised profitability over growth, and reasons behind why Giden and Penny bought all their shares back from investors.

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In today’s world, it’s important that parents understand the challenges of exposing gadgets to their kids. Some highlight negative effects on children's well-being and others emphasise the potential for learning and growth. In a world where these conflicting reports surround the impact of gadgets on children, myFirst has stood out in this space to bridge the gap between technology, education, and family values.

Launched in 2018, myFirst addresses the need for a digital space where children can interact safely while enjoying meaningful connections. With nearly 10 device categories, including watch phones, cameras, earbuds, 3D pens, sketch boards, and headphones, myFirst products are now available in over 42 countries including Singapore, Japan, Korea, Sweden, Spain, UK and the USA, just to name a few.

At the forefront of myFirst’s innovative approach is myFirst Circle, a community app for kids that has connected nearly 30,000 users across 100 countries, providing a secure platform for authentic social engagements. With the start of 2024 - marking new beginnings and innovation, myFirst is now thrilled to introduce myFirst 2.0 Circle, accompanied by the launch of 4 cutting-edge devices: myFirst Fone R2, myFirst Voice 2, myFirst Frame Doodle, and myFirst Frame Live.

Today on Open For Business, I’m joined in the studio by G-Jay Yong, Founder of myFirst Circle to understand the inspiration behind myFirst’s products, the impact of gadgets on children's development and what myFirst has in store for 2024 and beyond.

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Profitable Aerodyne could IPO as soon as next year. The drone solutions provider made $65 million in revenue in 2023 and expects to hit $143 million this year, with plans to raise between $100 to $200 million in its Series C funding round. Series C will mark its final pre-IPO funding round and with a dual-listing on the cards, they are expecting to list locally as well as abroad. On the shortlist of foreign exchanges includes the NYSE, the Nasdaq, and the Tokyo Stock Exchange.

In this episode of Open For Business, you will learn what drew Kamarul out of the corporate world and into the drone business and startup life, what the early days of building Aerodyne were like and how much the company has evolved in the last decade, as well as where the company is in its Series C funding round and why M&A continues to be a key strategy for growth.

Kamarul has his roots in audit and chartered accountancy, before getting a taste of tech that led him towards entrepreneurship when he founded Malaysia.tv in 2003, before running a production house called DKM2 in 2006. Interestingly enough it was the UAV division of his production house that became the first version of Aerodyne.

Founded in 2014, Aerodyne was just a 3-person startup, 10 years later– it’s a global business that was ranked the World's Number 1 drone service provider for 3 consecutive years. The company now operates in more than 45 countries and across various sectors like oil and gas, security and surveillance, and agriculture.

Aerodyne has raised around $80-90 million in 5 fundraising rounds and is backed by quite a list of investors, including Gobi Ventures, 500 Global, KWAP, and Petronas Ventures. The company isn't afraid to splash the cash to buy growth having 21 global M&As in the last 10 years and is looking to raise $100 million to $200 million in its Series C funding round to continue its growth story, organically and inorganically to buy market access and the technology.

Beyond this Series C round (which it expects to be its final pre-IPO round), the next key milestone for Aerodyne is their much anticipated IPO, with Kamarul saying last year that this could happen within the next 2-3 years, with a dual-listing potentially on the cards.

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With the ever-evolving landscape of logistics and distribution, companies in this sector face the ongoing challenge of providing high-quality services at an affordable cost, all while trying to push the boundaries of innovation.

Against this backdrop is Hoor Fatt Enterprise, a Malaysia based logistics company specialising in transportation services and warehouse management for cargo movement in the region.

Borrowing the concept from sea ports, Hoor Fatt has now turned their plant into a logistics hub which led them to be recognised as one of the fastest growing companies in Malaysia back in 2016. And now with a second-generation leader, the company holds a deeper vision for an eco-conscious future.

Today on Open For Business, we’ll be speaking with Loh Choon Hong, CEO of Hoor Fatt Enterprise, on what it feels like to embrace the company’s legacy, their unique business model and what the future holds for Hoor Fatt Enterprise in 2024.

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Founded in 2017, WORQ is currently present in 7 locations across the Klang Valley and an additional unique location at Perhentian Island, with more in the works, given the potential they see in the industry.

WORQ is currently on track to triple its space under management to 450,000 sq ft by 2025 and has ambitious plans to expand its space under management to a sizable 3 million sq ft by 2030.

The company started with RM1.5 million in revenue in 2017, made RM17 million last year, and is aiming for RM25 million in 2024, and on the back of 80% revenue growth and mid-teen net profit margins last year, WORQ announced in October that it raised an undisclosed pre-series B backed by 14 follow-on investors including global asset management firm PhillipCapital and the Leong family of Mah Sing Group Bhd.

Looking ahead, to support its ambition, WORQ is targeting to raise RM40 million in its Series B funding round.

We speak with CEO Stephanie Ping and CFO Andrew Yeow, to get a better understanding of how they’ve profitability navigated the last 7 years in the coworking landscape despite the downfall of WeWork, how WORQ has partnered with property players and developers to grow, and what the path ahead looks like for the Space-As-A-Service model as the aim to become the Amazon Web Services of office space.

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On this episode of Open For Business, Lennise Ng, Founder and CEO, and Aizat Rahim, Co-founder and Managing Director, get into, among other things, why and how they built Dropee and started with Dropshipping, how Red Bull gave them their big break early on in their Dropee journey, and the reasons behind the rebrand to Borong and what it signals ahead. We also get into their USD$57 million in revenue last year and expansion plans ahead, how their on-going Series B fundraising round is going as they aim for at least $10 million in funding, and why an IPO is the desired exit, instead of a trade sale.

Founded in 2017, the company formerly known as Dropee is a B2B eCommerce solution provider that looks to help businesses optimise their supply chain using various digital tools and initiatives, helping businesses better manage their inventory and stock tracking, tap into of digitalisation by enabling a smooth Offline to Online transformation, and harnessing the power of data-driven decision making to personalise orders, thus increasing customer satisfaction and driving sales.

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As we’re all busy with our daily routines at work, it is common that we face similar issues like having insufficient time to practise a sustainable work-life balance, skipping meals at work or we simply can’t find the time to put in a couple of hours for exercising.

From being in the legal field to active business owners, Collin Chang and Joslyn Yip came up with TasteBudds, a company that provides wellness products, particularly through liquid meals to people of various income levels, with a clear vision to help those with a hectic schedule. Now, they are looking to expand to overseas markets as this issue of practising a healthy work-life balance is not only common here in Malaysia, but also in many if not all major metropolitan cities as well.

With that, today on the show, we’re joined by both Collin Chang and Joslyn Yip, Co-Founders of TasteBudds, to understand their journey from being lawyers to business owners, key challenges they faced during this transition and what the future looks like for TasteBudds in 2024 and beyond.

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Hann Liew and Lucas Ooi are co-founders of fintech firm Jirnexu, the company behind RinggitPlus, and after 11 years building the company, they left their executive leadership roles in July last year. A few weeks later, along with a third co-founder Ng Moon Ho, the former director of operations at RinggitPlus, they announced their next chapter in entrepreneurship - Halogen Capital - a digital asset fund manager.

Halogen has a full Capital Markets Services (CMS) licence from the Securities Commission Malaysia (SC) to manage digital assets such as cryptocurrencies, NFTs, and tokenized assets, and using the unit trust fund structure, they launched their Shariah Bitcoin Fund last year and very recently soft-launched their Shariah Ethereum Fund.

We speak to Hann and Lucas about the transition from Jirnexu to Halogen, how building a startup the second time differs from the first time, why they have ventured into Digital Assets and crypto space, and the potential ahead for this venture.

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On this episode of Open For Business, we speak to Wealth Vantage Advisory’s Rafiq Hidayat and Idham Idris about the business of financial planning, what it needs to do to keep up with the times, and why they believe that AI won’t replace Financial Planners.

We also explore the reasons behind starting this relatively new firm and why they broke away from the commission-driven agency mentality to focus on comprehensive financial planning, what’s behind their ambition to grow by 20X by 2026, and recruitment strategies given that ​ the number of Financial Planners is key to driving a firm’s revenue growth.

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Kakitangan.com is a one-stop HR platform that wants to empower businesses to work smarter with a fully automated HR system that covers payroll, leave, claims, attendance, and more, so that you can focus on business growth.

On this episode of Open for Business, you will learn what took 2 former Microsoft Office engineers down the road of building a HR platform, the success and and failures along the way, and what it means to become the People Operating System for SMEs in Malaysia.

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Precision mechanical components are not something we talk about or come to mind everyday. This industry, however, is a critical segment of modern engineering and manufacturing, and plays a vital role in a wide array of sectors.

Enters Nibou Industries, a home-grown manufacturer that specialises in the development and production of advanced linear motion systems. However, second-generation CEO Jowin Goh takes the company on a whole new adventure, transitioning from being a key player in the automation industry to the fast-moving consumer goods (FMCG) industry, producing nostalgic snacks such as jellies and puddings.

Today, we speak with Jowin Goh, CEO of Nibou Industries about the challenges of switching industries entirely and the experience of being a second-generation business owner.

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On this edition of Open For Business, we speak to Azran Osman-Rani, CEO and Co-founder of digital health startup Naluri, about his transition from the corporate world and C-Suite into the startup ecosystem and then to starting up his own venture. Among other things, you will learn the reason behind this focus on employee wellbeing and digital health, how he balances the double-edged sword of bringing on strategic investors early in a startup’s life, lessons learnt from his times with AirAsia X and iFlix that have helped him build Naluri, and what his ambitions for the company look like ahead.

Before his startup Naluri, Azran Osman-Rani started his career in management consulting, before moving to Bursa and then Astro in business transformation and business development roles. In 2007, he got his first taste of building and running a company, taking on the CEO role at AirAsia X for almost 8 years, before joining iFlix’s leadership team as Group COO and CEO for Malaysia for around 2 years.

All these experiences played a role in his journey to startup founder and how he approached building Naluri.

Founded in 2017, Naluri takes a proactive approach at tackling employee health and wellbeing in the hopes that preventive healthcare will lead to improved employee productivity, reduced healthcare claims, and ofcourse, improved real-world business results.

Naluri made around $4 million in annual revenue last year and is aiming to drive growth ahead through more geographic expansion, expanding their focus from the large enterprise space to the SME space, and looking into more products and services that compliment their existing offerings. Currently operationally profitable in Malaysia, Indonesia, and Singapore, Naluri aims to break-even this year and is working on raising its next funding round which it hopes to be in the USD$10-20 million range.

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Love, Bonito’s 14 Year Journey, Brick-And-Mortar Growth, And Tapping Into The Asian Diaspora

Starting out as a humble blogshop selling second-hand clothes in 2005, today Singapore-based e-commerce and fashion brand Love, Bonito calls itself the largest vertically integrated, omnichannel women's fashion brand in the region.

The direct-to-consumer brand was created with a commitment to accessible and thoughtful designs, specifically tailored for the Asian female demographic and is now present in multiple countries and exports to over 20 countries. In Malaysia, the firm now has 6 outlets, having recently celebrated their sixth and newest addition - the flagship store at The Exchange TRX.

In this episode of Open for Business, we speak to Dione Song, the CEO of Love, Bonito about the brand's journey from a humble blog shop to the largest vertically integrated omnichannel women's fashion brand in the region, Love Bonito's commitment to catering specifically to the Asian female demographic, the transition from an online focus to an omni-channel marketing approach, and their growth story ahead.

02:02 The Genesis of Love Bonito

03:06 The Philosophy Behind Love Bonito's Fashion

05:00 The Importance of Representation in Fashion

07:00 Dione Song's Journey to CEO of Love, Bonito

14:07 The Omni-Channel Approach of Love, Bonito

17:30 The Importance of Customer Data in Retail

20:12 Transitioning from Online to Offline Shopping

20:39 Creating Unique Offline Shopping Experiences

24:57 Expanding into New Markets

32:12 Love, Bonito’s Growth and Profitability

36:11 Future Plans and Trends in the Fashion Industry

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Samadhi - the moment when the mind achieves stillness and total meditative consciousness. True to its name, Samadhi Retreats is a sanctuary for serenity and holistic hospitality, all while harmonising with nature and embracing sustainability.

Samadhi Retreats boasts a chain of luxury hotels, resorts, and restaurants strategically situated "in the middle of nowhere," surrounded by nature. Each location aims to provide customers with a distinctive escape from the hustle and bustle of life.

Today on Open for Business, we speak to Federico Asaro, the CEO, and Founder of Samadhi Retreats. He shares insights into the unique Samadhi DNA, discussing the challenges and successes of intertwining luxury, nature, and sustainability in the hospitality scene.

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BananaBro is a chain of banana leaf restaurants founded in 2018 by Tony Lim, who isn’t a stranger to the F&B space. He previously started Boat Noodle back in 2013 and before that set up a Chatime franchise in Cambodia in 2011.

In 5 years, BananaBro has grown to over 30 outlets nationwide and made RM70 million in revenue in 2023, with EBIDTA margins around the 15%-20% range. The business is still actively expanding and is looking to take their store count to 60 by 2026. At present, Tony sees potential revenue for the Malaysian market hitting between RM150 million to RM200 million in time.

From bubble tea to thai boat noodles and now Indian banana leaf, in this edition of Open For Business we explore the business rationale and promise for building a banana leaf restaurant chain, how Tony's past experiences have helped with the starting and scaling of this venture, and much more.

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In this episode of Open for Business, you will learn about Inside Scoop’s inception 11 years ago and the journey this venture has taken, what Farm Fresh brings to the table, and the Inside Scoop on this business’s potential quantum leap ahead with Edmund Tan, Co-Founder of Inside Scoop.

Founded in 2013, Inside Scoop has evolved into a household name with over 40 outlets across the country. Last year, the company hit a significant milestone after Malaysia's largest homegrown dairy company Farm Fresh acquired a 65% stake in Inside Scoop for around RM84 million. Farm Fresh taking a bit into Inside Scoop marks a new chapter in this homegrown ice cream maker's journey.

The discussion delves into the early days of starting Inside Scoop and why the founders left lucrative careers in finance, the creation and development of the brand, and the aim to expand into the Consumer Packaged Goods (CPG) market with Farm Fresh now in their corner. Edmund also gets into their strategy to maintain brand authenticity, the challenges of venturing into a highly competitive market, the importance of customer experience, and the future plans for location expansion and product innovation.

01:39 The Founders' Motivation and Initial Challenges

02:10 The Birth of Inside Scoop

02:41 The Transition from Corporate to Entrepreneurship

03:19 The Importance of Financial Planning

10:00 The Role of Personal and Professional Growth

13:40 The Art of Ice Cream Making

16:06 Understanding Customer Preferences

17:02 Brand Development and Strategy

17:35 The Importance of Customer Experience in Building a Brand

18:07 Recognizing Malaysia's Manufacturing Industry

18:54 The Journey of Building and Growing a Brand

20:10 Key Marketing Strategies and Customer Acquisition

20:21 The Impact of Free Ice Cream

20:55 The Success of the Ramadan Ice Cream Buffet

21:50 Building a Relationship with a Niche Audience

23:02 Growth Expectations and Future Plans

23:55 The Acquisition by Farm Fresh and Revenue Growth

25:35 The Profitability of the Venture

29:34 The Relationship with Farm Fresh and Future Growth

31:57 The Next Stage: Consumer Packaged Goods

33:00 The Long-Term Involvement of the Founders

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Today on Open For Business, we spoke with NEFIN, a renewable energy investor, developer, and asset manager. Established almost a decade ago, the company’s journey began with a clear vision, that is to harness renewable resources to power a cleaner, and more sustainable future.

NEFIN has a diverse portfolio of renewable energy projects that span various scales and geographical locations, to address the urgent needs of climate change and environmental conservation. The company leverages technologies, including solar, wind, and other renewable energy sources, to deliver efficient and effective energy solutions.

We were joined by Chong Bor Hung, the Managing Director of NEFIN SEA, and Head of Business Development of NEFIN Group who shared his thoughts on how NEFIN navigates the challenges and opportunities of the renewable energy market.

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On Open For Business today, we are talking to a company that’s involved in an industry that’s very much talked about in recent years – the electric vehicle (EV) industry.

Established in 2016, EV Connection is a provider of sustainable energy infrastructure solutions in Malaysia, with a focus on EV charging infrastructure and solar photovoltaic (PV) systems. Its vision is to revolutionise the transportation sector by being innovative with EV solutions. As the world increasingly shifts towards sustainable and eco-friendly transport options, companies like EV Connection are leading the charge in making electric vehicles accessible and practical for everyday use.

Today, we speak with Lee Yuen How, the Managing Director of EV Connection, delving into the journey of the company, exploring their contributions to the EV landscape, their technologies, and strategies for navigating the challenges and opportunities in the rapidly evolving EV market.

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Heading into 2024, it’s important for parents to know where they can get care products for their babies in a timely, convenient manner with reasonable prices. However, in practice that isn’t always easy.

Parents Jesmine and Sean Tan were looking for Safe, Natural and Organic products for their own daughter back in 2011 when they realized that having to resort to importing such brands cost heavy postage fees. This led them to create Applecrumby in 2012. Applecrumby then went on to be part of the second batch of startups that made it to 500 Global’s Distro Dojo program in 2016, where they secured seed funding worth US$300,000 from the VC.

Now, Applecrumby has an e-commerce platform that has their own homegrown in-house brand of baby products. They have baby products such as diapers, wipes, skincare, cleaning products, and toothgel that are catered to parents who wish to have the option of Safe, Natural and Organic (S.N.O) baby products for their children. More recently, Applecrumby had also opened its first store-in-store in Shah Alam in a partnership with Daggeebaby.

So today on Open For Business, we spoke to Sean Tan, CEO & Co-Founder and Jesmine Tan, COO & Co-Founder of Applecrumby on their business journey since 2012 and what the future holds for their business.

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Post-pandemic, Malaysia has experienced a gradual decline in unemployment, however the paradigm shift in work dynamics during the pandemic continues, and now sees many of the younger generations placing different priorities on what they seek in a job.

Hiredly, a leading hybrid recruitment platform in the realm of talent acquisition, specifically targets Gen Y and Z, recognizing their evolving working preferences. It comprises both a job portal and a headhunting recruitment solution, focusing on junior to mid-management talents.

Today on Open for Business, we speak with Derek Toh, the Founder and CEO of Hiredly, on why he started down this path, the business model and promise of this venture, how AI has changed the game, and the future of Hiredly. We will also explore employment trends in Malaysia and the evolving demands of workplaces.

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Co-living spaces are often characterised by communal living arrangements and a strong sense of community and have become increasingly popular, particularly among working professionals who are seeking flexible and vibrant living solutions.

At the forefront of this is Bespoke Habitat, a company that has been shaping the landscape of shared spaces since its establishment in 2019. Bespoke Habitat has been creating flexible and affordable housing solutions in Singapore and now, the company has expanded its footprint to Malaysia, specifically Johor Bahru, unveiling an exclusive co-living space designed to cater to the needs of the ever-mobile working professionals.

To explore this evolving trend, the state of co-living spaces in Malaysia and what the future holds for Bespoke Habitat, I’m joined today by Ernee Ong, Co-founder of Bespoke Habitat.

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In today’s discussion, we examine the impact of data quality on large language models (LLMs) like ChatGPT, pivotal in industries for trend prediction and content personalisation.

Despite their potential, reliance on these AI models, used in various sectors, poses concerns about data accuracy and security, particularly as 62% of Malaysians fear AI job replacement yet 84% are willing to delegate tasks to AI.

Our interview with Genie Yuan from Couchbase, a leader in cloud-based database solutions, will delve into the importance of high-quality data for LLM accuracy, strategies to mitigate data discrepancies, and the broader implications of AI adoption in workplaces, including future AI-driven advancements.

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In this edition of Open for Business, Theodoric Chew, Co-Founder and CEO of Singapore based digital mental healthcare company Intellect speaks to BFM about how and why he built Intellect, the promise and potential of this venture, and what the path ahead looks like for this digital mental healthcare company.

Among other things, we explore Theo’s past experience building and selling content platform Existgreat at just 20 years old, how that may have helped in his Intellect journey, the role that Intellect plays in the health and wellness space, how they utilised the collective $20 million raised in their Series A round - the largest amount of funding raised by a mental health startup in Asia.

We also get into how their recent strategic partnership with IHH Healthcare will support growth ahead, exit possibilities, and more.

Founded in 2019, Intellect is a digital mental healthcare company based in Singapore, aiming to make mental healthcare and wellbeing support accessible for everyone, and now serves over 3 million members on its platform and has signed. They are backed by some famed investors such as Tiger Global, Insignia Ventures Partners, Y Combinator, and more. And last year signed a strategic partnership with IHH Healthcare, one of Asia’s largest private healthcare group

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In this edition of Open for Business, Colony’s Co-Founder and CEO Timothy Tiah takes us through lessons learnt, challenges faced, and journey ahead in the ever-evolving landscape of coworking. Among other things, we explore how Timothy was “duped” into this business, his concern with the financial engineering that goes on with the EBITDA profitability of some businesses, the strategy of building a premium co-working offering through Colony and a low-cost, no-frills option through Jerry Coworking Space, his preferred exit strategy, and much more.

Co-founded by husband & wife duo, Timothy Tiah & Audrey Ooi, Colony is a more luxurious take on the co-working space concept and was launched late July 2017. The idea was to transform the work experience with beautiful serviced office spaces and world-class amenities, taking inspiration from Silicon Valley offices.

They started with a team of 15 people and had 2 branches initially, and within a year raised US$5 million with Cornerstone Partners (acquiring a stake at US$15m-US$20m valuation). Today they have 6 main co-working spaces, multiple event spaces, and in 2021, introduced Jerry Coworking Space - a cheaper, fully-automated, no frills option.

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According to the Statistics Department, Malaysia’s SME contribution to the country’s GDP was around 38% in 2018. However, access to finance looks to be a key constraint for SMEs to grow. Enter Funding Societies - the largest SME digital financing platform in Southeast Asia. The platform has disbursed RM12.9 billion across more than 5 million notes in Indonesia, Malaysia, Singapore, Vietnam, and Thailand since its establishment in 2015.

In 2023, Funding Societies marked several milestones, such as introducing their Islamic Financing solutions to help expand their customer and funding base, to their partnership with the Credit Guarantee Corporation Malaysia (CGC) that will provide eligible SMEs access to longer-term financing and preferential interest rates.

On this episode of Open for Business, we speak to the Co-Founders of Funding Societies, CEO Kelvin Teo and COO Wong Kah Meng, about what started them down this path, what it was like building this regional platform, the role of Funding Societies in the financing ecosystem, and what the vision ahead looks like for Funding Societies.

Among other things, we get into:

The Journey of Funding Societies

The Challenges of Raising Funds

The Role of Alternative Data Scoring in Lending

The Evolution of Funding Societies' Product Mix

The Impact of Digital Banks on Funding Societies

Funding Societies' Partnerships and Collaborations

The Business Strategy and Future Plans of Funding Societies

The Pathway to Profitability for Funding Societies

The Funding Strategy of Funding Societies

The Potential Exit Strategies for Funding Societies

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Malaysia’s agricultural sector faces several issues: an ageing farming population, outdated agricultural practices and land availability amongst others. Social enterprise Cocojack seeks to inject new thinking and fresh approaches towards addressing some of agriculture’s long-standing challenges.

Initially a reluctant young farmer himself, marketing graduate Syed Salleh Syed Sulaiman saw a gap in current developmental programs and founded Cocojack with the aim of delivering well designed agricultural training to youth, towards developing the next generation of farmer-entrepreneurs. With increasing numbers graduating from Cocojack’s training programs, the social enterprise is now seeking to solve the land availability issue by developing a platform to match trained young farmers with owners of unutilised land packets.

We speak with the now passionate agriculturist-cum-founder Syed Salleh on Cocojack’s origin story, product development journey, business model and the future of this truly unique enterprise.

Guest Presenter: Nell Omar

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Lithium ions make the world go round. From the laptops we work on and the smartphones in our hands, to the now accelerating world of electric vehicles, lithium ion batteries are key, but as many of us experience with our phones after 2-3 years, the lifespans of these batteries are a key bottleneck here.

So is there a better, more long lasting battery technology out there? Well the answer might lie with a Singapore based startup.

Founded in 2018, VFlowTech is a Singapore-based startup working on the development of vanadium flow battery technology with a key selling point here seemingly being its 25-year expected lifespan - much better than the typical lifespans we see with lithium-ion batteries.

Earlier this year, VFlowTech raised US$10 million (RM43 million) in an oversubscribed Series A funding round. On this episode of Open For Business, we speak with Dr. Avishek Kumar, CEO and co-founder of Singapore-based VFlowTech, for the story behind this promising battery tech, whether it can compete with Lithium ion batteries, and the commercialization plan ahead.

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We hear from Alvin Andrew, founder of FUBIZO. We'll delve into how FUBIZO addresses the diverse needs of the food and beverage industry through innovative product development. We’ll look at his journey and experiences in both local and international markets, offering valuable insights into the challenges and triumphs of running a food and beverage business in the current global landscape.

Today, I’ll be speaking with Alvin Andrew, founder of FUBIZO, a company specialising in Food and Beverage product innovation.

Based in Penang, FUBIZO has developed a diverse range of products, responding to various market needs and culinary challenges. In our conversation today, we’ll explore the journey of FUBIZO, the intricacies of developing new food products, and the insights Alvin has gained in navigating both local and international markets.

This discussion aims to shed light on the realities of launching and managing a food and beverage business in today’s dynamic market

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In the aftermath of the FTX collapse in late 2022, the crypto landscape isn’t as sexy and appealing as it used to be, now playing second fiddle to Generative AI and Chat GPT, however that doesn’t mean that innovation and development in the space has come to a halt.

After years of work, last month, the Securities Commission granted approval to Malaysian startup CoKeeps to be Malaysia's first qualified Digital Asset Custodian. A pioneer in the Malaysia crypto and digital scene, CoKeeps aims to lay the right foundations to increase digital assets adoption.

Today on Open for Business, you will learn about how this homegrown startup navigated the ever-evolving crypto industry and become the first qualified Digital Asset Custodian in Malaysia. More importantly, why is this their focus in the wide wide web3 world?

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Paper-based record-keeping at medical facilities is not only antiquated, it also compromises the quality and continuity of care. Remedi aims to remedy the problem by providing simple and cost-effective digital management systems for clinics and healthcare payors, with an eye on solving the bigger challenge of shareable electronic medical records.

In this wide-ranging interview with Founder and Managing Director Khairul Faizi Khalid, we touched on how the company made their unique entrepreneurial journey work: from beginning as an extended weekend project, taking the time to develop the right business model and product features, keeping the company bootstrapped in the early stage to directions for future growth.

Guest Presenter: Nell Omar

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Hew Wee Choong of Cyclone Robotics joins us to delve into the expanding world of Robotic Process Automation (RPA) in Malaysia. We'll discuss the surge in RPA adoption among Malaysian businesses, with a focus on the banking, finance, insurance, and telecommunications sectors. Hew will shed light on the challenges and opportunities in Malaysia's RPA journey, Cyclone Robotics' vision for the Malaysian market, and their role in bridging the knowledge gap in RPA adoption. We'll also explore how Cyclone Robotics is integrating AI, machine learning, and cloud services to enhance RPA and its plans for hyper automation in the Asia-Pacific region.

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In November, local upscale restaurant Dewakan picked up a second Michelin Star at the second edition of the Michelin Guide Kuala Lumpur and Penang, making it the first two-Michelin starred restaurant in Malaysia. An honour that has backed up the establishment's name that translates to ‘food from god’.

On this episode of Open for Business, you will learn what turned an educational entrepreneurial effort at a local college into this two starred Michelin restaurant, what it takes to survive and strive in the highly competitive culinary scene, and whether the restaurant business makes business sense, with Chef Darren Teoh, founder and head chef of Dewakan.

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There are an estimated 500,000 newborns in Malaysia every year generating RM3.3 billion in maternity-related spending. Aiming for a slice of that market, Happy Preggie began with the mission of providing the first platform in Malaysia to connect today’s generation of educated and discerning young parents with a curated range of quality maternity health services and professionals.

The temptation to provide more offerings in adjacent areas is ever present to a startup in the product development stage. After a few forays, the company decided to return to its core mission of providing new parents with better knowledge of and access to health and wellness services, including areas of customer demand hidden by cultural taboos, such as post-miscarriage support.

We speak about gathering customer insight, refocusing the company’s offerings, the importance of mission, and much more in this conversation with Yoong Poh Joon, founder of startup Happy Preggie.

Guest Presenter: Nell Omar

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Homegrown job solutions platform Qwork recently announced an investment from Artem Ventures that will power its growth into more industries that are prime to tap into the utilization of gig workers to help them better optimise their manpower.

Founded in 2017, Qwork has worked with over 100,000 gig workers serving clients in 11 countries in Southeast Asia, notably Zalora, Busybees Asia, Dynapack Asia, J&T Express, and Jakel, and has paid out over US$3 million to giggers, while helping saving up to 60% of operational costs for these businesses.

In 2023 alone, Qwork has connected more than 15,000 individuals with companies throughout the region who have clocked in close to 2 million working hours and spent over 280,000 hours working with partners worldwide to upskill its giggers.

On this episode of Open for Business, you will hear from Muna Munirah, CEO and Co-Founder of Qwork, about how these newly raised funds will be utilised, their plans for growth and how they will execute, and the origin story behind this startup.

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Sweatspa is a wellness spa whose journey started 9 years ago. Now, Sweatspa has 5 outlets with its most recent outlet in Bukit Jalil opening just a few months ago. In a bid to grow this much bigger, Sweatspa also recently acquired their franchise licence, something we will explore in more detail.

Beyond their consumer facing retail business and their upcoming franchising, Sweatspa also offers installation services for those seeking personal saunas at home and has a commercial solutions arm for those looking to start their own sauna business or for those looking to enhance their existing businesses in adjacent industries such as fitness, healthcare, and wellness sectors.  

On this episode of Open for Business,  you will learn about SweatSpa’s origin and growth story, how it markets itself and acquires customers, and most importantly, plans to leverage the new franchise licence to accelerate the growth. All this with Sabrina Tang, Founder of Sweatspa.

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Pilgrim is an Indian-based, all natural, vegan, direct-to-consumer (D2C) skincare startup brand that has caught the attention of some prominent investors. Just two months ago, Vertex Ventures, Fireside Ventures and Narotam Sekhsaria Family Office, were part of Pilgrim’s $20 million Series B funding round, which will help them accelerate the company’s growth in India.

Having generated $9.59 million in revenue in the last financial year, the company is expecting 3X growth to hit around $30 million in the next financial year, and another 2X growth to achieve $60-70 million the year after. It is also expecting to hit profitability next year.

All that and more in this conversation with Anurag Kedia, the co-founder of Pilgrim. We explore Pilgrim’s origins and growth story, insights into how to build a consumer beauty brand while optimising your marketing budget, as well as future plans including the path to profitability and IPO thoughts.

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We're joined by Lim Kar Aik, Group CEO of Revenue Monster Group, to discuss the journey of WeTix, Malaysia's leading ticket aggregator. We explore their innovative partnerships with cinema chains and e-wallet services like WeChat Pay, their expansion beyond movies to include a range of entertainment options, and how these strategic moves are shaping the future of digital ticketing in Malaysia.

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In line with World Children’s Day, we’re taking a focus at a key part of a child’s life - education, more specifically the business of children’s education.

Managing a portfolio of childhood education businesses, Jigna Doshi says she’s committed to the 'whole child' concept, balancing a child's academic, physical, social, and personal development through her range of services.

In today's Open for Business, you will discover the story behind the establishment of her education businesses, the challenges of managing multiple ventures in the ever-evolving landscape of childhood education, and what her long-term game plan is.

In the studio today is Jigna Doshi, Founder and CEO of Eduguru Childcare Services, but also Toddler Town International Preschool, Enso International Academy, and Lion City Preschool.

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The beauty and personal care industry in Malaysia is big business - garnering a revenue of around $2.68 billion in 2022 based on Statista data. With so many beauty companies vying for the top spot, how does more recent market entrant Une Olive en Provence stand out here? Well, apparently by transforming the century-old kitchen essential – olive oil – into a much desired skincare product.

Hailing exclusively from the farm in Provence, France, Une Olive en Provence utilises extra Virgin Olive Oil as a key component of its various cosmetics products. However, is that enough to make it stand out in a fiercely competitive cosmetics market, especially in a market where consumer sentiment is estimated to be at its lowest since the lockdown days of the second quarter of 2021?

Today on Open for Business, you will learn about the rationale behind importing this high-priced product into Malaysia, its brand positioning and marketing strategy, as well as insights into the intricacies of operating a distributorship here in Malaysia, with Seah Jhen Pei, Director of Une Olive Malaysia.

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While we often pay attention to the hot and sexy tech startups of the world or the big established name brands and their shelves of products that we use on a daily basis, it’s important to remember that there are plenty of lucrative businesses out there that we’ve never heard of. – Consumers might know Durex, but how many know that homegrown Karex is the biggest condom manufacturer in the world?

Malaysia has many of these kinds of businesses, big and small, and one of them is our guest today – People & Global, an Original Equipment Manufacturer or OEM of wet wipes, a product category that garnered a lot of attention in the last few years as hygiene and sanitisation became key during the pandemic.

By some estimates, the wet wipes business was a 4 billion US dollar market in 2022. That’s a sizable market for a narrow product that we take for granted on a regular basis, and it’s expected to continue to grow at a Compounded Annual Growth Rate of 7.8% up to 2033.

Founded in 2003, this OEM caters to both local and international markets, they produce a diverse range of hygiene products such as wet wipes and sanitary napkins to prominent clients like Watson's, Shell, Mydin, Petronas, and more.

On this episode of Open for Business, you will learn why today’s guest Patrick Wong, Founder and Managing Director, People & Global entered this business of all things, the intricate workings of this 20 year old homegrown wet wipes OEM, how profitable wet wipes manufacturing can be, and whether People & Global can be more than just an OEM through its own brand Wetty.

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Today, we’re in conversation with Professor Andrew Wong, CEO of E3 Hubs Sdn. Bhd, a man with over a quarter of a century in entrepreneurship, and an advocate for the development of and nurturing of SMEs and startups. In a world still reeling from the impact of a global pandemic, businesses across Malaysia are navigating through the challenges of inflation and political volatility, searching for a foothold to stabilise and grow.

E3 Hubs stands as a beacon of support for these businesses, providing incubation, mentorship and a thriving community network aimed at business upscaling. From leading MAD Incubator, which played a pivotal role in the growth of numerous tech startups, to steering E3 Hubs towards its goal of empowering 50,000 members, Andrew’s journey is one of resilience, innovation and an unyielding commitment to the entrepreneurial spirit. Let’s explore the insights and experience of a man who’s at the forefront of fostering entrepreneurial success in Malaysia’s dynamic business landscape.

Image Credit: LinkedIn | Andrew Wong

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The F&B business is tough, whether here in Malaysia or abroad. There’s always a constant churn of old restaurants closing down and new ones taking their place. That said, there are those that last the test of time and navigate the industry for decades.

Today on the show, we speak to Australian chef, author, television presenter, and restaurateur – David Thompson to get a better sense for the business of F&B and why he’s personally focused on Thai cuisine.

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