Enterprise Explores

“I think we’re getting past the luxury of just being against things”, Penta's Rory O'Donnell on global food security.Farmers' protests in Europe are reshaping the political landscape as the European Parliament elections approach, with the protest highlighting a frustration among European farmers as they navigate tougher competition, rising production costs, and concerns over the environmental impacts of initiatives like the Green Deal strategy.With that in mind, today we delve into the intricate world of European agriculture, exploring the evolving landscape of agricultural policies within the EU, their global ramifications, food security, and lessons that Asia can learn from Europe and vice versa. Joining us is Rory O'Donnell, Managing Director of International Agriculture, Food, and Trade at Penta, who brings over three decades of experience in the UK Civil Service and a deep understanding of EU affairs.See omnystudio.com/listener for privacy information.

RM500,000 penalties, Director and Management liability, and assessing Work-From-Home risks that employers could be responsible for.If you haven’t heard about the incoming changes for Occupational Health and Safety in Malaysia, it’s time to push the panic button because ignorance is not a defence from the potential penalties of up to RM500,000. Learn about the implications, consequences, and what workplaces need to do ASAP in this edition of Enterprise Explores.We speak with Shannon Rajan and Selvamalar Alagaratnam, Partners at Skrine to discuss the implications of the newly enforced Occupational Safety and Health (OSH) Act (Amendment) 2022. Effective from June 1st, this amendment aims to elevate safety and health standards across workplaces in Malaysia.We take a look at the significant changes introduced by the amendment, including the mandatory appointment of health safety coordinators in companies with five or more employees and the enhanced requirements for workplace risk analysis.See omnystudio.com/listener for privacy information.

Why did EPF restructure its member’s accounts? Can we do recurring transfers from the Flexible Account to the other 2? Why can’t we opt out of the Flexible Account? We get into these and much more in this edition of Enterprise Explores with EPF’s Balqais Yusoff.Over the weekend, EPF’s new structure took effect bringing into play a new 3rd account known as Akaun Fleksibel. Enterprise Explores the strategy and rationale behind this move, what we should know about these new changes, and how to navigate them, with Balqais Yusoff, the Head of Policy and Strategy Department at The Employees Provident Fund (EPF).Effective earlier this week, EPF Member accounts have been restructured from the previous two accounts (Account 1 and Account 2) to three accounts with contributions split 3 ways – with 75% going to Akaun Persaraan, 15% into Akaun Sejahtera, and 10% into Akaun Fleksibel.Account 1 will be effectively known as Akaun Persaraan: This account will accumulate savings specifically for retirement income.Account 2 will be effectively known as Akaun Sejahtera: EPF has said that this is designed to address members’ life cycle needs during retirement.And now we have a 3rd account - Akaun Fleksibel: This new account is aimed at providing flexibility for short-term financial needs and savings in this account can be withdrawn as needed.On top of this, EPF members will have until August 31st to decide whether to opt-in to restructure your existing balance and transfer an initial amount from Account 2 into your Flexible Account. This one-off, initial transfer will be irreversible. Effectively, if you’ve never withdrawn funds from EPF, this move should restructure your EPF savings to follow the new 75:15:10 ratio.Join us as we dive into the rationale behind this move, what this says about the evolution of EPF’s role in our lives, what we should know about these new changes, and how to navigate them.See omnystudio.com/listener for privacy information.

In Malaysia, women entrepreneurs are carving a significant niche, accounting for around 20% of the more than 650,000 entrepreneurs in the small and medium enterprise (SME) sector. Despite their increasing influence on the economic landscape, these women often encounter distinct challenges, especially in accessing crucial funding and financial resources. This gap highlights the urgent need for targeted initiatives that support and empower female business leaders.To address these obstacles, the community group On The Rise is hosting the Rise Summit, an event specifically focused on enhancing financial literacy, fostering connections with funding partners, and exploring growth strategies for female founders and leaders. The Summit aims to be a transformative platform, offering masterclasses, workshops, and opportunities for direct engagement with investors.Kate Sarginson, the Founder of On The Rise, underscores the importance of the Rise Summit, emphasising its role in shaping the future of women entrepreneurship in Malaysia and beyond. This event not only aims to level the playing field but also strives to empower women entrepreneurs through education, networking, and direct support, making it an essential milestone for female empowerment in business.See omnystudio.com/listener for privacy information.

In a world where companies are staying private for longer, today Enterprise Explores the potential of Share Liquidity Programs and Tokenization to unlock illiquid shares in private companies with Kelvin Lee, CEO of Alta - a Singapore-based marketplace for alternative assets. Alta recently facilitated the inaugural trade of the first tranche of shares as part of their Income Insurance Share Liquidity Program. The program was established in January by Alta and Phillip Securities to provide a liquidity solution to almost sixteen thousand shareholders holding shares valued at as much as $840 million. On top of that, by enabling access to Phillip Securities to all Income Insurance shareholders to sell their shares, Phillip Securities is able to subsequently sell these shares on AltaX where it becomes available to investors for trading. Among other things, Kelvin will share insights on how Alta is addressing the opportunities in private markets in a landscape where companies are opting to stay private longer, we'll also discuss the intricacies of tokenization, dive into the value of share liquidity programs, and how these strategies are enhancing liquidity for private securities.See omnystudio.com/listener for privacy information.

In line with Mother's Day, Enterprise Explores dives into the collaborative efforts between the Autism Behavioral Center (ABC) and CookX Asia to empower mothers of children with autism. We explore the prevalence of autism in Malaysia, the essential role of mothers in imparting life skills, and the challenges faced in accessing support systems. ABC, Malaysia's largest ABA centre, and CookX, a social cooking app, are creating safe spaces for teaching life skills to the autistic community. The upcoming ABC x CookX event aims to instil valuable qualities like patience and teamwork while addressing issues such as food waste and social integration.See omnystudio.com/listener for privacy information.

The economic climate in Malaysia is dynamic and evolving, with a strong emphasis on digital skills and technological advancements. The career path in Malaysia is also not linear – it is not a straightforward path from point A to B, but rather a curving one that requires adaptability, continuous learning, and a willingness to pivot in response to changing market demands.Young professionals nowadays are increasingly navigating dual roles, balancing primary jobs with entrepreneurial ventures as backup plans. This shift reflects the uncertainty and opportunities of a post-pandemic world. Meanwhile, HR professionals are tasked with retaining and supporting this new shift in the workforce while redefining traditional concepts like loyalty. Our conversation today brings together a young entrepreneur and a seasoned HR specialist to explore how economic conditions, career flexibility, and changing values impact talent management and the modern workforce. Let's dive into their insights on managing this dynamic career landscape with Amanda Tan, the Founder of Cxpturing Souls Studios and Pawever Memories, and Gladys De Silva, a Talent Business Partner with Malaysia HR Forum.See omnystudio.com/listener for privacy information.

Enterprise Explores the importance of engaging with grassroots entrepreneurs and the role of community building here with Inbaraj Suppiah, Founder of JomHack, a familiar name to many in the ecosystem, given his community work both online and in the real world through in-person sessions, such as the KL Startup Summit in July.We’ll get into grassroots entrepreneurship, but also some key thoughts on the criticisms around KL20 and the perceived disconnect between grassroots entrepreneurs and government programs, as well as how we can better address this gap in the startup community.See omnystudio.com/listener for privacy information.

Should you opt-in for the one-off irreversible transfer to the new Flexible Account from EPF Account 2 and effectively restructure your current EPF savings? That’s a key question that Enterprise Explores with Rajen Devadason, Licensed Financial Planner with Manulife Investment Management (Malaysia) Berhad. On top of that we also dive into how EPF members should navigate this incoming change and the narrative that we need to build around Akaun Fleksibel and its uses.It’s no secret that EPF’s recently announced restructuring has been divisive to say the least, but love it or hate it, it’s coming later this week. Starting from Saturday May 11th 2024, EPF contributions will be split into 3 accounts, where 75% goes to Akaun Persaraan, 15% into Akaun Sejahtera, and 10% into Akaun Fleksibel. More importantly, EPF members will have until August 31st to make a big decision - whether to opt-in to restructure your existing balance and transfer an initial amount into your Flexible Account. This one-off, initial transfer will be irreversible. Effectively, if you’ve never withdrawn funds from EPF, this move should restructure your EPF savings to follow the new 75:15:10 ratio.See omnystudio.com/listener for privacy information.

Was there too much focus on attracting foreign unicorns, players and VCs at KL20? Was there not enough local support announced? We explore those criticisms as well as key aspects of the KL20 Action Plan with Dr Sivapalan Vivekarajah, Co-Chair of the Soonicorn Collective, and collective member Sharma Lachu, Founder and CEO of Accendo Technologies.We will get into their topline thoughts and impressions about KL20 and the action plan, some of the feedback and criticisms levelled at it, and what their respective impressions and hopes are for particular initiatives, including the Innovation Belt and Unicorn Golden Pass, as well as the VC Golden Pass, VC Launch Fund, and VC Academy. We’ll also spend some time on the importance of talent initiatives.KL20 was a summit organised by the Malaysian government held on the 22nd-23rd of April with the aim of helping stimulate Malaysia’s startup scene by addressing some of the challenges faced by startup founders in the country like access to funding, navigating regulatory barriers and attracting top talent.At the event, Prime Minister Datuk Seri Anwar Ibrahim launched the KL20 Action Paper, which is a roadmap outlining tangible reforms to achieve convergence among key stakeholders – founders, venture capitalists, talent, incubators and accelerators, to propel Malaysia's startup tech sector to new heights.See omnystudio.com/listener for privacy information.

The Cyber Security Bill 2024, passed by Malaysia's Dewan Negara in April 2024, aims to bolster the nation's cybersecurity. It requires entities managing critical national infrastructures — such as government, banking, transportation, defence, and healthcare — to adopt rigorous measures, standards, and processes to mitigate cyber threats. The legislation utilises a risk-based approach to protect against current and future technologies, including blockchain, and is crucial for safeguarding Malaysia’s vital sectors and enhancing cyber resilience. For more insights, we speak with Vicks Kanagasingam, a Business Transformation Coach and Startup Architect.See omnystudio.com/listener for privacy information.

On this episode, we look at Artificial Intelligence with a focus on Malaysia's journey towards global competitiveness in this field. We speak with Farouk Nurish, Co-Founder of TM8 Sdn Bhd, a pioneering tech firm renowned for its innovative AI platform, Team M8.Throughout the conversation, Farouk gives us insights into Malaysia's distinctive strengths and weaknesses within the tech ecosystem, and how they influence the nation's efforts to carve a niche in the fiercely competitive AI market. We also explore the pivotal steps required to foster greater recognition and support for homegrown tech enterprises in Malaysia. See omnystudio.com/listener for privacy information.

In response to the rising threat of online scams and slander, the Malaysian government recently (last week) announced that it is set to introduce an AI portal designed to help the public identify and combat digital fraud. This initiative, integrating advanced AI technologies with existing platforms, aims to bolster public safety and restore trust in the digital realm.Although it is still in its early stages, the portal is seen as necessary to ensure the public can trust the content they encounter online. If any doubts arise, the public can consult the portal for verification.The portal is an expansion of the special segment “Biar Betul!” featured on the national public broadcast station RTM channels. In addition, it will complement the functionality of existing platforms such as SEBENARNYA.MY, under the Malaysian Communications and Multimedia Commission (MCMC), and MyCheck.My, managed by the Malaysian National News Agency (Bernama). This effort is expected to streamline the process for the public to easily search and verify any received information.Today, to shed light on the feasibility of this new AI portal, we speak with CF Fong, the Executive Chairman of LGMS Berhad, and a committee member of the Cybersecurity Chapter of PIKOM.See omnystudio.com/listener for privacy information.

EPF Akaun Fleksibel - only ‘break in case of emergencies’.Last week (25 April 2024), the Employee Provident Fund (EPF) announced a restructuring, which, among other things, will see the introduction of a third account known as Akaun Fleksibel effective May 11th. We speak with Economist Dr Geoffrey Williams to dissect what this potentially means for EPF members, for the economy, and the retirement crisis.Among other things, we explore how Account 1 (now Akaun Persaraan) has been moved up from 70% to 75% of contributions, how material a move this is by the EPF, the potential stimulus effect, EPF’s limits on addressing the retirement crisis and what else the government can explore, and much more.More info about the restructuring:Account Restructuring:Member accounts will be restructured from the current two accounts (Account 1 and Account 2) to three accounts:Akaun Persaraan: This account will accumulate savings specifically for retirement income.Akaun Sejahtera: Designed to address members’ life cycle needs during retirement.Akaun Fleksibel: A new account that provides flexibility for short-term financial needs. Savings in this account can be withdrawn as needed.Allocation of Contributions:Starting from 11 May 2024, contributions will be allocated as follows:75% into Akaun Persaraan.15% into Akaun Sejahtera.10% into Akaun Fleksibel.Transfer Option:Between 11 May 2024 and 31 August 2024, members can transfer part of their savings balance to Akaun Fleksibel as an initial amount.If no transfer is chosen, the existing balance will remain in Akaun Sejahtera.Access to the System:Members can fully access the new system starting from 12 May 2024.See omnystudio.com/listener for privacy information.

On the back of Earth Day earlier this week, Enterprise explores the 2024 Earth Day report that was released by market research firm Ipsos Malaysia with Arun Menon, Managing Director at Ipsos Malaysia.This is the 4th edition of the report and is based on a 33-country survey conducted where 24,000 people were interviewed between January 26th and February 9th.Below are the 6 key findings from the report, which we explore in more depth in the show.Globally, across 33 countries, a majority think governments, businesses and individuals have a responsibility to tackle climate change. But conviction has dropped notably over the past three years.Millennial and Generation Z men feel more apathetic and fatalistic about climate change compared with older generations and with women. Three in ten say it’s already “too late” to tackle climate change. And this sense that it’s too late to take action on climate change is particularly strong among young men.A majority globally believe that developed countries, with historically high emissions, should contribute more towards climate action. Perhaps unsurprisingly, those in developed countries are less likely to agree with this.Although awareness is improving, globally, people continue to misjudge which household actions would have the most impact on reducing their carbon footprint. People overestimate the effectiveness of low impact actions such as recycling.Most are optimistic that transitioning economies away from fossil fuels will have environmental benefits, but views are mixed on the economic and affordability impacts.Financial incentives and access to information are the leading motivators globally that could spur more climate action by individuals, followed by seeing climate impacts in their country.See omnystudio.com/listener for privacy information.

In the fast-paced world of advertising, language is not just a tool for communication but also an element of brand identity and cultural representation. Recently, concerns have arisen regarding the incorrect use of Bahasa Melayu in advertisements and public signage, sparking debates about linguistic integrity versus creative freedom. As advertisers and creative agencies navigate these waters, they face the challenge of balancing the evolving nature of language with the need to preserve its correctness and cultural significance.This discussion is critical, as the implications extend beyond mere communication, but also influencing social perceptions and national identity.Today, we speak with Prof Said Bani C.M. Din, Founder and Managing Director of bzBee Consult, who is also the President of PRCA Malaysia; and Khaidi Kamaruddin, the Founder of BULB Communique, to delve deeper into this matter where it is essential to consider how creative teams can foster linguistic accuracy while maintaining the innovative spirit that advertising demands.See omnystudio.com/listener for privacy information.

Today, Enterprise explores the KL20 action plan and what is in store for the startup ecosystem in Malaysia with Bikesh Lakhmichand, Founder at 1337 Ventures and Kevin Brockland, Founder and Managing Partner at Indelible Ventures.For some context, the KL20 is a summit organised by the Malaysian government that aims to stimulate Malaysia’s startup scene by addressing some of the challenges faced by startup founders in the country like access to funding, navigating regulatory barriers and attracting top talent.At the event, Prime Minister Datuk Seri Anwar Ibrahim launched the KL20 Action Paper, which is a comprehensive roadmap outlining tangible reforms to achieve convergence among key stakeholders – founders, venture capitalists, talent, incubators and accelerators, to propel Malaysia's startup tech sector to new heights.Today on the show, Bikesh and Kevin help us break down the KL20 action plan and whether it fulfils the needs of startup founders in Malaysia as well as how this will facilitate the bigger goal of taking Kuala Lumpur into the ranks of the top 20 global startup hubs by 2030.See omnystudio.com/listener for privacy information.

Today on the show, Enterprise explores Echelon’s annual Top100 Program, a program specifically curated to boost the growth for startups in Malaysia. To help me break down the significance of this program to startups across SouthEast Asia, I’m joined in the studio by Mohan Belani, CEO and Co-Founder of e27, the startup ecosystem's go-to platform for insights, connections, funding, and talent opportunities.Recently, Echelon has revealed the first 26 participants in this program for 2024 and some of the them include startups from Laos, the Philippines, and Malaysia, along with Singaporean applicants.With that and along the course of our discussion today, Mohan helped us get a better picture on the selection process for startups to enter this program, why fundraising has become more challenging in the startup ecosystem as well as some of the differences between Malaysia's tech startup ecosystem with other participating countries from across SEA.See omnystudio.com/listener for privacy information.

Enterprise explores the 15th edition of CPA Australia’s Asia-Pacific Small Business survey which provides insights about small businesses across 11 economies, including Malaysia.The annual survey results indicate that 2024 is expected to be a better year than 2023, with 78% of small businesses expected to grow this year. This is Malaysia's best result since 2012 and it is higher than the survey average of 70%.To help me breakdown and explore the survey, we’re joined by Gavan Ord and Azfar Asa’Ad, from CPA Australia’s Business & Investment Policy team.Along the course of the conversation today, Gavan and Azfar will be giving us an in-depth breakdown of the survey and give us a better picture on the state of small businesses here in Malaysia for 2024 and the foreseeable future.*CPA Australia defines ‘small business’ as businesses with less than 20 employees, which includes high-growth small businesses and tech startups as well.Photo Credit: ShutterstockSee omnystudio.com/listener for privacy information.

In this episode, Enterprise explores the complexities of digital fragmentation and how businesses can address it to unlock real business value with Michael Bachman, Head of Architecture and AI Strategy at Boomi, a software company that specialises in integration platform as a service, API management, master data management and data preparation.While data is increasingly valued in today's business landscape, many organisations struggle to bring out its full potential due to a common issue: data fragmentation. This fragmentation occurs when data is spread across various systems and locations, leading to inefficiencies in storage, compliance challenges, and management complexities.With that, Michael will help us explore the impact of data fragmentation to businesses, strategies to overcome this hurdle for maximising the value of organisational data and the importance of offering the right governance and integration capabilities needed to weave AI into user experiences and business processes.See omnystudio.com/listener for privacy information.