Enterprise Explores

Volatility, AI, and uncertainty are no longer future risks. They are the conditions businesses are operating in right now.Today, we examine what IBM’s 2026 Business and Technology Trends reveal about how organisations are responding to constant disruption. From decision-making at speed and real-time operations, to the shifting role of employees, AI transparency, and the growing importance of control and trust, this conversation looks past hype and into the choices that will shape competitiveness.Dickson Woo, Country General Manager and Technology Leader at IBM Malaysia, talks about where leaders are focusing today, what may be underestimated, and which decisions will ultimately separate those who keep up from those who fall behind.See omnystudio.com/listener for privacy information.

Following President Trump’s "Liberation Day" announcement threatening ASEAN with up to 49% tariffs, IDEAS argues that the member states of the 600-million-strong bloc panicked. Vietnam and Cambodia rushed to cut deals immediately, and Malaysia eventually followed suit with the Agreement on Reciprocal Trade (ART), albeit after initial attempts to rally the region failed.We sit down with Dr. Stewart Nixon, author of the report "Divided We Fall," to dissect why ASEAN chose self-preservation over solidarity and the potentially dangerous concessions buried in the fine print.We discuss:The "Panic" Discount: How Vietnam and Thailand’s rush to Washington sparked a regional "arms race" of concessions, handing leverage directly to Trump.Section 5 & Sovereignty: The controversial clause in Malaysia's deal that links trade policy to US national security, effectively forcing Malaysia to police US interests against China within its own borders.The "Transshipment" Trap: Why vague definitions of "circumvention" in the new deal create a compliance nightmare for manufacturers planning their supply chains.Convenor vs. Captain: Why the ASEAN Chair failed to rally the troops, in stark contrast to the EU’s unified stand against Washington.The Illusion of Safety: Dr. Nixon argues that buying "certainty" from Trump is a myth, citing how the USMCA did not protect Canada or Mexico from future tariff threats.See omnystudio.com/listener for privacy information.

The Ministry of Education’s Education Blueprint 2026-2035 has officially landed with a clear, mandatory mandate: a Grade C floor for English, BM, Mathematics, and History. But as we enter a decade defined by generative AI and automation, is a static grade on a paper certificate still a valid currency for the Malaysian workforce? Or is the national curriculum benchmarking for a world that no longer exists?We sit down with Edmond Yap, co-founder of Tupai, to deconstruct ‘The Grade C Trap’.See omnystudio.com/listener for privacy information.

Innovation is risky for banks, and traction is expensive for startups. Launched in May 2025, the PayNet Fintech Hub aims to solve this deadlock by acting as the "bridge" between Corporate Malaysia and innovation.BFM speaks with Gary Yeoh (PayNet) and Joshua Lim (Buzz) to explore how this ecosystem works. We dive into the success story of Buzz, a startup that pivoted from green-tech to a B2B financial media network, utilising PayNet's resources to secure a pilot with TNG Digital.We discuss:The "Bridge" Strategy: How PayNet reduces the risk for incumbents (like banks and e-wallets) to experiment with startups by vetting them and absorbing trial costs via PayNet Credits.The Buzz Pivot: Joshua shares the grueling journey of pivoting from a B2C recycling business to a B2B fintech solution, utilising the hub's resources to upgrade their API infrastructure.The "Grocery" Pilot: A deep dive into the Buzz x TNG Digital partnership, a cashback program where users upload offline grocery receipts to the TNG e-wallet for instant rewards.The 2026 Roadmap: Gary outlines the vision for a "B2B App Store" where banks can seamlessly "pull" verified fintech solutions (loyalty, analytics, engagement) directly from a trusted PayNet platform.The Opportunity Wall: How corporates can now post problem statements for the fintech community to solve.See omnystudio.com/listener for privacy information.

The timing couldn't have been more scripted. Just as the Online Safety Act (ONSA) 2025 came into force on January 1st, the AI chatbot Grok sparked a controversy by generating inappropriate content, prompting action from Malaysian Communications and Multimedia Commission (MCMC).Lawyers Ong Johnson and Lo Khai Yi dissect this new regulatory landscape. We explore whether ONSA is a necessary shield against digital harm or a potential "political tool" for censorship, and what the RM10 million penalty cap means for tech giants operating in Malaysia.We discuss:The "Grok" Precedent: How the recent AI chatbot controversy served as the first real test case for MCMC's new powers under ONSA.Who is Targeted? A breakdown of the three key entities regulated by the act: ASPs (Social Media like X/Facebook), CASPs (Content providers like Netflix/Infotainment), and NSPs (Telcos).The "Teeth" of the Law: Analysing the severe penalties, up to RM10 million for serious non-compliance, and whether this is enough to compel Big Tech to change their platform design.Reporting Mechanisms: The two distinct routes users now have to report harmful content (Direct to Platform vs. Direct to MCMC).The "Proactive" Shift: Why companies must move from reacting to reports to proactively moderating content before the MCMC’s upcoming Code of Practice makes it mandatory.See omnystudio.com/listener for privacy information.

It’s a new year, and optimism is starting to creep back in.On this episode of Enterprise Explores, we examine Ipsos Malaysia’s 2026 Predictions report to understand how Malaysians are feeling about the year ahead and what that means for businesses.From confidence in the economy and attitudes towards AI and jobs, to the growing importance of wellbeing and the commercial impact of the 2026 World Cup, the data points to cautious but resilient optimism.Joining us is Arun Menon, Managing Director of Ipsos Malaysia, to help separate sentiment from reality and explain how businesses should respond to shifting expectations, spending behaviour, and emerging risks in a year shaped by hope.See omnystudio.com/listener for privacy information.

2026 presents a landscape of mixed signals for Asia-Pacific: US tariffs are at their highest levels since the 1930s (effective rate of 13.6%), and China’s growth is projected to slow to 4.1%. Yet, Fitch Ratings has maintained a Neutral outlook for the sector.Thomas Rookmaaker, Head of APAC Sovereigns at Fitch Ratings, joins BFM to break down the region's "two-speed recovery", where AI-driven economies surge while traditional exporters lag, and warns that fiscal buffers are slowly eroding as government debt climbs.We discuss:.The "Neutral" Verdict: Why Fitch maintains a stable sector outlook despite geopolitical headwinds, citing strong FX reserves and credit buffers in developed markets.The "Two-Speed" Recovery: How the AI boom is shielding tech-heavy nations while non-tech exporters face dampened demand from the US and China.The China Slowdown: The impact of China’s downgrade to 'A' and the property slump on the broader region, with spillover effects hitting commodity prices and consumption.Fiscal Erosions & Social Unrest: With median government debt-to-GDP rising to 50.1%, we discuss why fiscal consolidation is stalling and how social unrest (e.g., Nepal, Indonesia) is forcing governments to spend more.Country Watchlist:Malaysia: Rated 'BBB+' (Stable) supported by political stability and 4% growth, though debt reduction remains gradual.Thailand: The outlier with a Negative outlook due to delayed tourism recovery and high household debt.The Danger Zone: Why the Maldives ('CC') faces a critical test with a $500m Sukuk repayment in April.See omnystudio.com/listener for privacy information.

In late November, Costco filed a lawsuit against the Trump administration over the “Liberation Day tariffs", and the White House remained surprisingly silent.BFM speaks with Bryan DeAngelis of Penta Group to decode this "quiet rebellion." Corporate America is finally "unbending the knee," but they are doing it with a new playbook: filing lawsuits based strictly on business logic while avoiding the public shaming that bruises the President's ego.We discuss:The Costco Strategy: Why the retailer’s decision to sue quietly after Thanksgiving, relying on "brand math" rather than PR stunts, possibly saved them from a Truth Social firestorm.The "Business Lane": How companies are learning to push back against policies like tariffs by framing them strictly as shareholder protection rather than political opposition.Political Volatility & Populism: With the President's poll numbers sinking, Bryan explains why the administration is leaning harder into populist rhetoric (like the attack on institutional housing investors) to regain momentum.The 2026 Midterm Outlook: Why "razor-thin" margins in Congress mean Democrats could flip the House even before November, and how this gridlock will force the President to rule almost exclusively through Executive Orders.The Erosion of Authority: From GOP resignations to state-level defiance on redistricting, we analyse whether the White House is losing its grip on its own party.See omnystudio.com/listener for privacy information.

The "buy and wait" era is over. According to Knight Frank Malaysia, 2026 marks a shift toward "value hunting amid volatility." Amy Wong, Executive Director of Research & Consultancy at Knight Frank Malaysia, joins BFM to decode the 2026 outlook. With office supply set to drop by 11% this year and over a third in 2027, the market is approaching a critical "decision year" where tenants lose their leverage. We discuss the rise of a "two-tier market," why industrial rents are staying disciplined despite the China+1 boom, and how investors must now manufacture "alpha" through active asset management.We discuss:The 2025 Scorecard: How front-loaded global trade and domestic consumption kept the market resilient, and why the 2026 "cool-down" is normalisation, not a hangover.Industrial "Smarter Space": Why manufacturers are buying land to build rather than renting. Amy explains the shift from sheer scale to high-spec facilities (higher floor loading, automation readiness) to support supply chain diversification.The Two-Tier Market: How the tech boom and Gen AI are creating a polarisation across sectors. Green, efficient buildings are winning, while older stock faces obsolescence.The Office "Decision Year": With new office supply dropping sharply in 2026 and 2027, the window for tenants to lock in favorable terms is closing. We discuss the "Stay vs. Go" debate for companies in aging buildings.Asset Level Alpha: Why market-driven growth is gone. Amy argues that returns must now be "earned" through active retrofitting and repositioning of older assets, rather than passive holding.See omnystudio.com/listener for privacy information.

According to the Risk in Focus 2026 report, organisations in Southeast Asia correctly rank cybersecurity, business resilience, and digital disruption as their top priorities. Yet, with cybercrime losses in Malaysia crossing RM1 billion, there is a glaring gap between risk awareness and real-world preparedness.BFM explores this "implementation gap" with Suhailah Abdulla and Philip Satish Rao from the Institute of Internal Auditors Malaysia. They argue that risk policies often look good on paper ("form over substance") but fail because organisations treat cybersecurity as a backroom function rather than "organisational DNA."We also discuss why Internal Auditors must evolve from financial checkers into "nervous system sensors" for the board, and how to navigate the specific dangers of "Agentic AI" while keeping humans in the loop.We discuss:The Preparedness Paradox: Why high risk awareness hasn't translated into fewer breaches, and the danger of "compliance on paper" versus actual implementation.Cybersecurity as DNA: Why treating cyber risk as IT's problem is a fatal error. Philip gets into the need for adaptive controls that evolve as fast as the hackers do.AI Governance & "Human in the Loop": How to balance the opportunity of AI with the risk of "Agentic Enterprises." We discuss the necessity of establishing governance frameworks that prevent over-reliance on algorithms.The Auditor as "Nervous System Sensor": Moving beyond the independent mask. Why modern auditors need engineering and supply chain skills to provide true risk intelligence to the board.Interconnected Risks: Lessons from COVID-19 on why siloed risk management fails, and why boards must view supply chain, geopolitical, and digital risks through a single Enterprise Risk lens.See omnystudio.com/listener for privacy information.

2025 was a year of "stark contrast" for Malaysia’s private capital markets. While institutional commitments from GLICs like Jelawang Capital, Khazanah, and KWAP signaled continued government support, regional confidence faced significant headwinds. The eFishery scandal cast a long shadow over governance, while giants like Temasek signaled a bearish pivot, cutting back on early-stage investments in favor of safer bets.Ng Sai Kit, Chairman of the MVCA, joins BFM to wrap up our 2025 Review & 2026 Outlook series. We discuss the regime of "normalisation and discipline," and why the association is rebranding to the Malaysia Private Capital Association (MPCA).We discuss:The 2025 Scorecard: Sai Kit characterises the year as one of "normalisation." While GLIC commitments (Khazanah, Jelawang, KWAP, PNB) provided reassurance, the industry’s core constraint remains: capital formation is scaling faster than exits.The Temasek Pivot: With regional giants like Temasek scaling back on early-stage bets, Sai Kit weighs whether Malaysia can capture this flow or if the "void" signals a deeper structural issue in Southeast Asian VC.The Exit Bottleneck: The traditional Silicon Valley unicorn model is failing locally. Sai Kit argues for a shift toward incentivising M&A and encouraging mid-sized companies to merge for scale.What LPs Want Now: The free money is gone. LPs are now demanding "proof of underwriting discipline", treating follow-on investments as new checks rather than automatic support, and rigorous loss management.Valuation Realities: Sai Kit explains why using headline numbers from funding rounds to calculate fair value is dangerous. We break down why different share classes (with seniority and liquidation preferences) mean the "paper value" often differs from reality.The "Crowding-In" Strategy: Why Sai Kit believes that government-led funding is healthy for a developing ecosystem, provided it validates rather than replaces private capital.The Rebrand (MVCA to MPCA): Why the association is dropping "Venture" and "Private Equity” from its name to embrace Private Capital as a whole, more clearly embracing Private Equity (given that it isn’t reflected in the short form name) but also including Private Credit and Venture Debt.ASEAN Ambitions: Insights into the formation of the ASEAN Private Market Council, aimed at harmonising fragmented fund structures to allow seamless cross-border fundraising across Vietnam, Thailand, and the Philippines.See omnystudio.com/listener for privacy information.

For years, the Malaysian fintech story was about anticipation, waiting for digital bank licenses, waiting for regulation, and waiting for mass adoption. According to the Malaysia Fintech Report 2025, the wait is over.Vincent Fong, Chief Editor of Fintech News Malaysia, joins BFM to review a year where Malaysia moved from "promise to delivery." We break down the explosive growth of DuitNow QR (where Malaysia ranks second only to China) and the 100 million+ transactions in the Buy Now Pay Later (BNPL) sector.However, execution comes with costs. With digital banks posting significant initial losses, 2026 is set to be the year of "Economics and Cost Control."We discuss:The "Execution" Pivot: How 2025 saw a surge in adoption, from RM967 million in cross-border transactions to the ubiquity of QR payments.Digital Bank Reality Check: Why heavy losses in the first year are typical for the sector (the J-curve effect) and why the 2026 strategy will shift toward lending, insurance products, and AI-driven cost efficiency.The End of the BNPL "Wild West": With SPayLater and Atome dominating the market, we discuss the implications of the Consumer Credit Act and the risks associated with a user base where 70% earn under RM5,000.Cross-Border Connectivity: The role of the Nexus scheme (connecting 5 central banks) and Alipay+ in driving regional payment integration.Open Finance: The next regulatory frontier. Vincent explains how API-based data aggregation will finally allow consumers to view their entire financial life on a single dashboard, provided incumbents get on board.See omnystudio.com/listener for privacy information.

For Malaysian SMEs, 2025 was a defensive year, graded a modest C+ (or B-) by SAMENTA. It was a year defined by uneven recovery, compliance shocks (from e-Invoicing to SST hikes), and the "Second China Shock" squeezing local businesses.For 2026, Datuk William Ng, National President of SAMENTA, outlines a strategy of "Selective Offense”. We discuss why businesses must prioritise cash preservation over aggressive expansion, how to navigate the talent crisis exacerbated by minimum wage hikes, and why "financial hygiene" is the key to unlocking bank financing and private equity.We also explore why branding is the only true leverage SMEs have left to regain pricing power in a market where costs are spiraling.NOTE: This interview was recorded prior to Prime Minister Datuk Seri Anwar Ibrahim delivering his 2026 New Year Message. After reaching out to Datuk William for his reactions, updated commentary on the extended e-invoicing transition period to 12months and SST revisions has been woven into the conversation.We discuss:The 2025 Review: Why export-oriented SMEs thrived while domestic players struggled.The 2026 Strategy: Why "Selective Offense" and automation are the themes of the year.The Talent Crisis: How minimum wage hikes and the gig economy are hollowing out the workforce.The AI Reality: Moving from fear to practical use cases like ESG reporting and demand forecasting.The Equity Question: What to know before selling a stake to Private Equity.See omnystudio.com/listener for privacy information.

If 2024 was the year of recovery, 2025 was the year of "overexuberance followed by utter deflation." While market cap peaked at $4.2 trillion and Bitcoin hit a high of $126k, the market has since cooled, with Bitcoin struggling to break past $100k since mid-November. But looking past the price action, the real story was the quiet rise of institutional plumbing.Hann Liew, Founder and CEO of Halogen Capital, joins BFM to review a volatile 2025 and outline the outlook for 2026. We discuss:The 2025 Scorecard: Hann describes the year as "overexuberance," where a pro-crypto US administration drove hype that outpaced reality. However, the market floor is now significantly higher than previous cycles.The Genius Act: How new US legislation has legitimised stablecoins, forcing major banks like JP Morgan to explore the "blockchainisation" of their internal systems.The $300B Stablecoin Utility: Beyond trading, stablecoins are now essential infrastructure. Hann explains why you can't have a tokenised bond market without tokenised cash to settle it.Tokenising Real World Assets (RWAs): How tokenisation upgrades assets from paper certificates to immutable code. We explore the potential for a tokenised bond and what it could mean for Malaysian capital markets.Bots Paying Bots: The intersection of AI and Crypto. Hann explains why AI agents can't open bank accounts, making stablecoins the essential currency for the emerging "machine-to-machine" economy.Outlook 2026: Why the lack of a "blow-off top" is a sign of maturity, the potential passing of the Clarity Act, and why fiat currency debasement remains the ultimate long-term tailwind.See omnystudio.com/listener for privacy information.

Malaysia’s economy scored an ‘A’ in 2025, with strong GDP growth and a strengthening Ringgit. But with slowing global growth and US tariffs looming, was 2025 a fluke or a foundation?Pankaj Kumar, Managing Director of Datametrics Research & Information Centre (DARE), joins BFM to kick off our "2025 Review & 2026 Outlook" series. We unpack the disconnect between stellar macro data and the "ground reality" of rising costs, and why the full impact of US trade policy might hit Malaysia like a tsunami in 2026.NOTE: This interview was recorded just before the US attacked Venezuela and captured its President Nicolás Maduro. As such, this development is not reflected in the conversation.We discuss:2025 Report Card: Pankaj grades Malaysia’s GDP performance an ‘A’, driven by a surprise 17.7% surge in net exports in Q3 and the successful rollout of the BUDI 95 subsidy rationalization.The "Feel Good" Gap: Why businesses and consumers aren't feeling the growth. Pankaj attributes this to the booming e-commerce sector killing retail footfall, low wages, and the compliance costs of new taxes like the widened SST.Cabinet Reshuffle & Governance: Pankaj welcomes the recent appointments but argues the Prime Minister should relinquish the Finance Minister portfolio to ensure better governance.The Trump Factor: Malaysia navigated the "liberation day tariffs" well with a reciprocal 19% rate, but Pankaj warns that 2025’s export numbers were inflated by "front-loading" demand, meaning the real pain will arrive in 2026.Outlook 2026: With the US and China slowing down, Malaysia must pivot to domestic demand and broader investments to sustain growth as export momentum fades.Ringgit to 3.80? Why Bank Negara will likely hold rates steady, and Pankaj’s bold prediction that the Ringgit could head back towards its peg-era level of 3.80 as the US dollar’s safe-haven status erodes.Investment Strategy: Navigating the risks of a "Trump-friendly" Fed Chair and why Pankaj is bullish on precious metals, specifically arguing that platinum is undervalued relative to gold.See omnystudio.com/listener for privacy information.

When we talk about Malaysian tech, we often talk about data centers and infrastructure. But are we actually building anything? Two weeks ago, over 600 developers, students, and founders answered that question at the Cursor x Anthropic Hackathon Malaysia.Kong Ka Weng and Faw Ali join us to break down how a small community meetup exploded into one of the region's largest AI coding marathons. They explain the phenomenon of "Vibe Coding", where non-technical founders use AI to build production-ready apps, and why the rise of AI agents is allowing solo founders to skip the traditional seed stage.We also dive into the tech stack that made this possible, exploring how "agentic" IDEs like Cursor allow developers to go from idea to MVP in hours, not months.We discuss:The Grassroots Explosion: Scaling from a 30-person meetup to 1,800 signups in weeks.The Tech: How AI Agents (like Claude) read files, edit code, and visualise UI changes autonomously.The Projects: From "Waze for Sailors" to a retro fighting game based on social media profiles.The Venture Track: Partnering with 500 Global to fast-track hackathon projects into investable startups.The Talent: Addressing Malaysia's brain drain and the influx of regional builders.See omnystudio.com/listener for privacy information.

A recent analysis of 4.6 million global conversations reveals a fracture in the climate narrative. While emerging markets like Brazil and Indonesia are surging with optimism driven by tangible infrastructure delivery, the US and UK are mired in skepticism, policy reversals, and fatigue.Dan La Russo, Senior Partner at Penta, joins us to unpack the massive shift from the era of "Climate Commitments", where ambitious targets were enough, to the era of "Climate Credibility," where stakeholders demand proof.We discuss why consumers have become the most skeptical stakeholder group and how companies can bridge the trust gap by reframing sustainability through the lens of affordability and daily life rather than abstract long-term goals.Image Credit: ShutterstockSee omnystudio.com/listener for privacy information.

General Managers must own AI, not CIOs or CTOs. A new report from Bain & Company reveals a sharp divide: while most companies are stuck in "pilot purgatory," a small group of AI leaders are securing 10–25% gains in EBITDA. The difference isn't the software, it's the strategy.Shazrul Asari and Dhruva Murugasu, Partners at Bain & Company, join us to explain why scaling AI requires a fundamental business transformation rather than just "sprinkling AI on top" (like adding extra sambal to Nasi Lemak). We explore why plugging AI into old workflows is like driving a supercar in a traffic jam, and why the rise of "Agentic AI" demands a total rethink of the organisational chart.We discuss:The Divide: Why leaders achieve scale while others get stuck in sheltered pilots.Workflow Redesign: Why you must decommission old processes, not just layer AI on top.Agentic AI: The structural shift from "digital helpers" to "digital workers" that act autonomously.The Talent Trap: How to prevent the "hollowing out" of junior roles via augmented apprenticeships.CEO Advice: Why momentum matters more than perfection in the race to scale.See omnystudio.com/listener for privacy information.

As the year winds down, cyber attackers are gearing up. Semperis’ 2025 Ransomware Holiday Risk Report reveals that over half of ransomware attacks hit during weekends or holidays, when most organisations sharply reduce monitoring and response capability. With identity systems at the heart of almost every major breach, and with global cybercrime costs set to reach USD 10.5 trillion, the stakes have never been higher.Jeff Wichman, Director of Incident Response at Semperis, discusses what really happens when attackers strike, why identity weaknesses amplify the damage, and what frontline ransomware negotiations can teach business leaders. A grounded, visual, and highly practical conversation on how every organisation – from SMEs to large enterprises – can strengthen resilience before the next holiday season.See omnystudio.com/listener for privacy information.

By 2026, cybercrime will no longer just be a service, it will be a fully automated industry . Trend Micro predicts a seismic shift where autonomous AI agents can scout targets, infiltrate systems, steal data, and even negotiate ransoms without a single human finger on the keyboard .Sage Khor, Technical Lead at Trend Micro, joins us to break down this AI-fication of cybercrime . He explains the dangers of "machine-speed" attacks hitting organizations that still respond at "human speed" , the rise of "poisoned" AI models that trick systems into ignoring threats , and why Malaysia saw a 29% spike in data breaches in early 2025. We discuss:The 2026 Prediction: How cybercrime moves from "as-a-service" to fully automated factories .Machine Speed vs. Human Speed: Why traditional defenses can't keep up with AI agents .Poisoned AI Models: How attackers "teach" AI to ignore dangerous threatsThe Cloud Risk: Why simple misconfigurations are often more dangerous than zero-day exploits .Resilience Strategy: Why the focus must shift from blocking every attack to rapid containment and "cyber risk exposure management"Related & Mentioned PodcastsRise of the Agentic Enterprise: AI That Plans & ActThe 7 Sins of Enterprise AI InvestmentHandling the Hack: The 4 Rules of Crisis Comms See omnystudio.com/listener for privacy information.