Halal food & drinks looks to be a global market that is too big to ignore, with projections placing its value at $1.5 trillion by 2028. This growth, driven by demographic shifts, rising consumer awareness, and mandatory halal certification policies in key markets like Indonesia, has the potential to reshape the global landscape. With younger Muslim populations driving demand for premium halal products across both Western and Asian markets, the sector is poised for remarkable expansion.

Malaysia, as a leader in halal certification, has a unique opportunity to position itself as a global hub for halal innovation and export, while businesses face challenges like non-standardized certifications and compliance across different markets.

In this episode of Enterprise Explores, Damien Yeo, Food & Drink Analyst at BMI, joins us to delve into the findings of BMI’s report Global Halal Food & Drinks: A Market That Can No Longer Be Ignored. We explore what’s driving the market’s growth, the role of Indonesia’s regulatory changes, and how Malaysia can capture more value from this booming sector.

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The countdown to Phase 2 of Malaysia’s e-invoicing rollout is on, with businesses earning between RM25 million and RM100 million required to comply by January 1, 2025.

Following the implementation of Phase 1 in August 2024, a KPMG survey highlights businesses’ varying levels of readiness, with challenges like IT upgrades, manpower training, and system integration posing potential roadblocks. So, what can Phase 2 businesses learn from early adopters?

In this episode of Enterprise Explores, Dr. Veerinderjeet Singh, Senior Advisor on Tax Policy at KPMG Malaysia, unpacks the fundamentals of e-invoicing, key findings from KPMG’s survey, and key lessons and insights from Phase 1. We also discuss the role of e-invoicing in Malaysia’s broader push for digitalisation—enhancing compliance, reducing fraud, and modernising the nation’s tax ecosystem.

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As we edge closer to 2025, artificial intelligence (AI) continues to reshape industries, redefine innovation, and open up new opportunities for businesses globally. In Malaysia, AI has become an important tool, enhancing operational efficiency, improving customer experiences, and driving data-informed decision-making.

Joining us today is Dickson Woo, the Managing Director of IBM Malaysia, to discuss the significant changes in the APAC AI Outlook 2025 Report. We'll cover the shift from initial trials to ROI-focused AI strategies, the adoption of open-source models, and emerging trends like generative and agentic AI. This discussion, we hope, will provide valuable insights to help Malaysian enterprises stay competitive and prepare for growth in an AI-driven future.

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In Ipsos’s latest Global Trends: Understanding Asia report, three major consumer trends are set to dominate the Asia Pacific region in 2025. As technology continues to evolve, consumers in APAC are embracing what’s been dubbed “Technowonder,” with a strong belief that AI and digital innovation will play a transformative role in their future. At the same time, younger generations are feeling a pull towards the past, with over half of Gen Z in the region expressing a desire to have grown up during a simpler time—what Ipsos calls the “Retreat to Old Systems.” And then there’s the urgent call for environmental action: “Climate Convergence” shows that the majority of consumers believe the world is heading for disaster unless immediate changes are made.

- Technowonder: How Asia is embracing technological progress and the rise of AI.

- Retreat to Old Systems: Why Gen Z feels nostalgic and how businesses can adapt.

- Climate Convergence: The role of brands in combating climate change and leading the charge.

In this episode of Enterprise Explores, Hamish Munro, CEO for Asia Pacific Excluding Greater China at Ipsos, breaks down these trends and discusses what they mean for businesses and policymakers as they navigate the opportunities and challenges of the future.

We dive into the significance of each trend and explore how Asia Pacific consumers’ increasing concerns about climate change, rapid digital transformation, and societal change are shaping the region’s commercial landscape.

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HASAN.VC Accelerator 002 is on a mission to empower startups with a unique blend of mentorship, funding, and market access, all while fostering ethical and halal values. This accelerator program is designed to create impactful ventures that align with Shariah principles and address global challenges, positioning startups for success in Southeast Asia and beyond.

In this episode of Enterprise Explores, Umar Munshi, Managing Partner of HASAN.VC and Group MD of Ethis, shares how the accelerator is equipping entrepreneurs to scale their businesses, overcome common challenges like funding and market validation, and foster a culture of purpose-driven innovation. We unpack the program’s structure, its emphasis on cultural and market-specific insights, and the long-term vision for growing HASAN.VC’s footprint across the region.

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We speak with Whitnee Hawthorne, Global Head of Travel & Hospitality at Snowflake, about an industry-first AI-driven solution that aims to transform how airlines, hotels, and travel providers operate and engage with customers. We’ll explore how AI is reshaping the customer journey, opportunities for operational innovation, and real-world use cases, such as AI-powered customer service chatbots and predictive planning tools.

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Recently, Starbucks Malaysia’s temporary closure of 50 outlets amid reported financial and operational difficulties serve as a stark reminder of the unpredictable landscape of the food and beverage (F&B) industry. Beyond the Starbucks case, other F&B brands are also struggling with similar external pressures whether it is controversies tied to celebrity endorsements, shifts in consumer sentiment, or the lasting effects of the pandemic. So, what can businesses do to weather the storm, to adapt quickly and prepare for the unexpected to survive?

To explore these pressing questions and more, we speak with Sofia Leong Abdullah, Franchise Consultant and Founder of Business Evolution Enterprise, on how to navigate challenges, shifting consumer behaviours, rebuild consumer trust and create sustainable growth strategies.

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From political interference to unclear mandates, not all GLCs and GLICs operate on the same level. Some run efficiently under close scrutiny, while others fly under the radar, plagued by inefficiencies and governance issues. This raises a critical question: how can we hold these entities—whether at the state or federal level—to higher standards to improve transparency, accountability, and public trust?

Aira Azhari, Acting CEO of the Institute for Democracy and Economic Affairs (IDEAS), shares how targeted reforms can transform GLCs and GLICs into more effective, accountable, and transparent drivers of economic and social progress.

So in this episode of Enterprise Explores, we unpack IDEAS’ five-point framework for reform, which emphasises stronger parliamentary oversight, independent appointments, and clearer mandates to align with Malaysia’s broader economic goals.

Here are some key highlights from the conversation:

- Governance Challenges: Issues like political interference, opaque investment decisions, and lack of accountability hinder GLIC and GLC effectiveness and trust.

- FSBs, Not GLICs: Federal Statutory Bodies (FSBs) are entities established through acts of Parliament, such as EPF and Tabung Haji, to fulfill specific mandates and objectives as per their respective Acts. Unlike GLCs, which are companies incorporated under the Companies Act and often state-owned, FSBs operate under distinct legal mandates outlined in their founding statutes. IDEAS argues that using the term FSBs for organisations like EPF is more accurate.

- IDEAS’ Five-Point Framework: IDEAS proposes reforms focusing on ownership rationale, independent oversight, transparent appointments, and performance monitoring to enhance governance.

- Parliamentary Oversight: Advocating for a stronger role for Parliament in scrutinising annual reports and vetting board appointments while avoiding political meddling in operations and investment decisions.

- Independent Ombudsman: IDEAS recommends establishing an ombudsman to protect whistleblowers and ensure ethical practices within GLCs and GLICs.

- Balancing Roles: Emphasizing the need for GLCs to clearly distinguish between profit-driven objectives and social policy goals to avoid conflicting mandates.

- Future Vision: A call for the Malaysian government to act as an “active and informed owner,” ensuring institutions deliver clear objectives while maintaining professional independence.

- Cultural Shift: Addressing Malaysia’s political culture, which often rewards supporters with appointments, as a long-term goal for sustainable reform.

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What must Malaysian policymakers understand to craft a regulatory framework that balances flexibility and the nuances of the gig economy with the need for social protections?

The gig economy has transformed modern work, offering flexibility for gig workers, cost-effective solutions for businesses, and convenience for consumers. However, Malaysia’s long-anticipated Gig Workers Bill could reshape this landscape, with industry players voicing concerns over unintended consequences and lack of engagement in the drafting process.

From defining gig work accurately to balancing flexibility with social protections and emphasising meaningful industry engagement, in this episode of Enterprise Explores, Rashid Shukor, Director of Country Operations and Mobility at Grab Malaysia, and Franchesca Chia, Founder and CEO of GoGet, share their insights on the complexities of regulating gig work.

Here are some key highlights from the conversation:

- Defining Gig Work: The gig economy spans diverse models, from location-based platforms like Grab and GoGet to non-location-based and freelance work. Precise definitions are key to effective regulation.

- Flexibility First: Flexibility is the cornerstone of gig work, and policies must ensure it’s preserved without compromising worker protections.

- Concerns with Current Policies: Both Grab and GoGet emphasised gaps in existing frameworks, such as costly multi-platform contributions and outdated structures like annual payment models.

- Social Protections: Platforms advocate for voluntary, bite-sized contributions for insurance and social protections, ensuring affordability for gig workers with fluctuating incomes.

- Technology as a Solution: Leveraging APIs, digital platforms, and microinsurance models can streamline protections while maintaining operational efficiency.

- Stakeholder Engagement: Both platforms urge policymakers to prioritise dialogue with gig workers, platforms, and other stakeholders to craft effective regulations.

- Global Lessons, Local Leadership: Malaysia has been progressive in gig economy innovations, with initiatives like PERKESO’s SKSPS and EPF integrations, but continuous dialogue is vital to sustain this leadership.

- Future-Proofing the Model: Ensuring any policy accounts for multi-platform work, inclusivity, and evolving employment dynamics is essential for balancing worker welfare, platform sustainability, and consumer affordability.

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Who are the 4 most important stakeholders to every business? How can corporations identify problems before they escalate? And what does effective government relations look like today?

In today’s polarised and digital world, corporate reputation and crisis management are more critical than ever. From managing complex government relations to leveraging data-driven stakeholder strategies, Conall McDevitt, President of The Penta Group, sheds light on how businesses can navigate these challenges and turn them into opportunities.

With decades of experience in public affairs, crisis management, and stakeholder solutions, McDevitt emphasises trust as the foundation of reputation and advocates for a 360-degree view of your key stakeholders: staff, investors, regulators, and customers.

In this episode of Enterprise Explores, we discuss how organisations can measure and manage reputation using data, stay ahead of crises, and align with evolving regulatory landscapes.

Here are some key highlights from the conversation:

- Stakeholder Focus: Penta advocates managing relationships with four critical stakeholder groups—employees, customers, regulators, and investors—to build trust and resilience.

- Data-Driven Insights: Learn how organisations can track reputation through metadata analysis, sentiment tracking, and primary research, ensuring issues are addressed before they become crises.

- Reputation & Crisis Management: McDevitt outlines the “Measure, Monitor, Analyze, Track” framework for identifying early signals of reputational risks.

- Evolving Public Affairs: Government relations are shifting from being relationship-led to research-led, emphasising data to bridge the gap between organizations and policymakers.

- Proactive Advocacy: McDevitt shares examples of grassroots campaigns influencing policy and mitigating regulatory risks, highlighting the importance of understanding unintended consequences.

- Trust Signals: Spotting trust erosion through tools like Glassdoor trends, social media sentiment, and customer feedback is key to reputation management.

- Strategic Leadership: Why large organizations might need a Chief Stakeholder Officer to integrate insights across all stakeholder groups.

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