“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. See omnystudio.com/listener for privacy information.

How Uber Inspired TheLorry’s Modernisation of ‘Lori Sewa’

The flagship entrepreneurship show on BFM, featuring personal business stories from early stage start-ups, all the way to billionaire octogenarians in Malaysia and abroad. Notable guests include Martin Cooper (father of the mobile phone), Julian Assange (founder of WikiLeaks), Ralph Henry Baer (father of video games), Tony Buzan (Mindmap Guru), Isaac Tigrett (Hard Rock Cafe founder), Robert Kiyosaki (Financial Guru), Nick Vujicic (motivational speaker) and more. Tap into this valuable resource of shared experiences for the SME industry, which also touches on news, issues and trends affecting the business community and beyond.

Business

Investing

Careers

Management & Marketing

Business News

Shopping

We speak with the founders of CONTEN.T, an award-winning BrandTech company specialising in creating advanced digital experiences using first-party data. With collaborations with top brands like COACH, Calvin Klein, Adidas, and Gucci, CONTEN.T has delivered over 200 innovative digital experiences, including AR/VR, gamification, and AI-driven projects. Our discussion will cover their growth since their last appearance on BFM in 2021, new developments in first-party data strategies, and the impact of their work on brand engagement. See omnystudio.com/listener for privacy information.

Transforming Digital Experiences with CONTEN.T

From selling 20 shirts at a free night bazaar to hitting 8-figures in revenue in 2022 with aims to hit RM50 million in 3 years time, on this edition of Open for Business, we explore the rise of Kapten Batik with Co-Founders Farhan Omar and Ekram Faiz.  Pulling all their savings together, these engineering students-turned-batik fashion entrepreneurs started this venture in 2017 with RM40,000 in capital with the aim of modernising and reinvigorating batik in Malaysia. From weekend bazaars, Kapten Batik took a big step forward in December 2019 opening its first flagship store in Publika Shopping Gallery. Today it has 7 stores, a warehouse HQ in Puchong, and another 7 consignment boutiques in select resorts and hotels.
 Farhan and Ekram share their journey from selling at bazaars to opening multiple stores, their product development process, and the challenges they faced. Additionally, they delve into their marketing strategies, sustainability goals, and future plans for expansion, including potential international markets and exploring new business verticals like cafes and boutique resorts, as well as potential fundraising plans to grow and what they’re potentially looking for in investors.
 In case you don’t have the time, here are 7 AI-Generated key takeaways from the interview:
 Origin and Motivation: Kapten Batik was founded in 2017 by Farhan Omar and Ekram Faiz. They identified a gap in the market as young people were not wearing batik. They aimed to modernize traditional batik to make it suitable for everyday wear.
 Business Development: The business started small, selling at social media and weekend bazaars, eventually opening their first flagship store in Publika Shopping Gallery in December 2019. Today, they have seven stores, a warehouse HQ in Puchong, and seven consignment boutiques in select resorts and hotels.
 Product Innovation: Initially, they focused on batik-inspired, printed designs to offer a more affordable price point. They researched materials and designs, often traveling to Indonesia for inspiration. Their product line has since expanded to include various materials, such as European linen and sustainable fabrics like recycled plastic for activewear.  Market Acceptance: The brand quickly gained traction, with their products selling well at bazaars. Their first major validation came from a successful bazaar at Trec KL. This early success gave them the confidence to invest more into the business.
 Pandemic Response: During the pandemic, Kapten Batik already had an online store, which helped them pivot quickly. They launched aggressive marketing campaigns to clear seasonal stock and opened their second store in Bangsar Shopping Center in December 2021, despite the challenges posed by the pandemic.  Growth and Expansion: Kapten Batik has grown significantly, achieving eight figures in revenue by 2022. They aim for 30% annual growth and plan to expand their physical stores and penetrate international markets like Singapore and London. They also plan to open a store in KLIA to attract tourists.
 Fundraising Plans: Although Kapten Batik has been self-funded and has taken bank loans, the founders are now considering equity funding for future expansion. They are looking for strategic partners who can provide business expertise and support their growth in regional and international markets. They have started entertaining conversations with potential investors to explore these opportunities.
 Future Vision: The founders envision Kapten Batik becoming a luxury brand with a strong international presence. They also plan to diversify beyond fashion into areas like cafes and boutique resorts, potentially starting in destinations like Bali. See omnystudio.com/listener for privacy information.

From Bazaars to Boutiques: The Rise of Kapten Batik’s 8-Figure Business

Orangeleaf Consultancy, founded by Ellice and Tim Hendricks, is changing Malaysia’s tech industry with their low-code platform expertise. Starting as a two-person team, they have grown to a 30-strong team, focusing on developing local talent and driving digital transformation. See omnystudio.com/listener for privacy information.

Low-Code Pioneers

Founded in 2018, Store N Go provides warehousing services and tailored product handling, storage, packaging materials, kitting services, and distribution solutions. The company is also the first in Malaysia to integrate influencer marketing solutions with warehousing and fulfilment services. Currently, Store N Go’s influencer marketing solutions span a growing in-house team of 24 influencers on TikTok and they cover a variety of consumer interests from beauty to lifestyle.   Kee Lion was on the show back in 2022 to discuss what the early stages of the company looked like and since then, Store N Go has grown as a e-fulfilment service provider in Malaysia, with a portfolio of over 80 brands, 38 originating from Malaysia. In 2023, Store N Go processed more than 4 million parcels and connected local startups and SMEs with an average increase in sales of 99.28%, compared to March 2022.   In today’s conversation, Kee Lion will give us a sense of how his past experiences with Nike, Johnson and Johnson & L’Oreal, helped shape the idea of starting up this business, the prominence and importance of TikTok Shop and social commerce, and the ambitions ahead for Store N Go. See omnystudio.com/listener for privacy information.

Store N Go: Leveraging TikTok Shop To Power Growth

We’re joined by Toh Kean Wee, the Founder and Managing Director of TPE, one of the largest whiteboard and writing instrument manufacturers in Malaysia. Starting from humble beginnings in a 1,000 Sq. Ft. cottage in 2008, TPE has grown into a modern 50,000 Sq. Ft. manufacturing facility, meeting high export market demands.  Mr. Toh has navigated the competitive whiteboard manufacturing industry, establishing TPE as a significant market player. His entrepreneurial spirit and business acumen have driven TPE’s growth in both domestic and global markets. As the whiteboard industry evolves, Mr. Toh shares valuable insights into emerging trends and TPE’s future role in the industry. See omnystudio.com/listener for privacy information.

How Uber Inspired TheLorry’s Modernisation of ‘Lori Sewa’

Download our free app to listen on your phone