Open For Business

On our first episode of Extraordinary Endeavor, we hear from Chen Chow Yeoh (CC), Co-Founder of Fave on how to plan for a better Q2 in light of the difficulties entrepreneurs face since the beginning of 2020. Asking the tough questions in this episode is Nadhir Ashafiq, the Co-Founder and Managing Director of TheLorry & Azarol Faizi, Founder and CEO of Bateriku.com.

See omnystudio.com/listener for privacy information.

While a vast majority of retailers around the country struggle with a dip in earnings during the MCO period, there are retailers - especially non-essential retailers that only operate out of malls - who find themselves with no choice but to close during this period. And a prolonged period of closure right now means zero cash flow for these businesses, and possible insolvency in the near future. We catch up with  Joseph Sun of Noodle Shack & Gwei Tze-Co from Astra Baby to see how the MCO has affected their businesses. 

See omnystudio.com/listener for privacy information.

Earlier this week, the Shopping Malls Association of Malaysia told the Malaysian Insight that shopping malls nationwide could incur losses in excess of RM2 billion after the movement control order (MCO) is lifted. This is taking into account the recovery period and loss of purchasing power, adding on the fact that it will take a considerable time for rehabilitation and recovery, and for shoppers to return. Today, we speiak to its president, Tan Sri Teo Chiang Kok to better understand the mall operators perspective on this.

See omnystudio.com/listener for privacy information.

Without dine-in customers during this MCO period, some 200,000 F&B outlets in Malaysia are facing a massive cash flow problem. This is why Storehub launched Beep Delivery; a solution that will enable thousands of F&B businesses to take online orders from their customers for delivery or pickup, handing them a lifeline during the partial lockdown. We speak to Storehub Chieftain Fong Wai Hong about this overnight initiative and how it’s helping small businesses power through the pandemic.

See omnystudio.com/listener for privacy information.

GOLOG is an online logistics and delivery platform that connects logistics users and service providers. They started out as a B2B only company but during this MCO period, they saw an opportunity and went into the B2C market, providing logistics and leveraging on their peer-to-peer platform, almost like a ride-sharing service for logistics. We speak to them on how they have stepped up and assisted various farmers and food producers in continuing their operations and more importantly, going online. 

See omnystudio.com/listener for privacy information.

Last Friday, the Prime Minister unveiled the new Package Prihatin/stimulus package in hopes of preserving the economy and mitigating unemployment. Some of the initiatives introduced in the package include tax instalment and EPF contribution deferrals, additional allocations to the Special Relief Facility and micro-credit financing for SMEs. But are these all working? Recently one of our previous guests on Open For Business, Joachim Sebastian, the Managing Director of Everpeaks wrote an open letter, titled "A Letter to Our PM from an SME" on his portal; we managed to speak to him about it.

See omnystudio.com/listener for privacy information.

Copper by FAV, a modern European eatery on any other day, has mobilized its resources to feed the medical frontliners in the battle against COVID-19. Even as the Movement Control Order leaves business owners wondering, establishments like Copper have pivoted almost overnight to serve the community with their outreach efforts. We speak to founder Zeehan Zahari as she continues to channel donations and sustenance to the people who need them the most in this unprecedented time.

See omnystudio.com/listener for privacy information.

SMEs make up more than 90% of the business establishments here in Malaysia. And they contribute to nearly 40% of the GDP and also empower millions of the workforce here in Malaysia. Shannon Toh, an entrepreneur in the industry for nearly 10 years now, joins us today to share about how both his businesses have been impacted by the MCO and COVID-19. 

See omnystudio.com/listener for privacy information.

Last Friday (27 March), the Malaysian government unveiled an economic stimulus package known as Package Prihatin or Caring Package valued at RM250bil that will benefit all Malaysians. From the amount, RM128bil to be used to protect the welfare of the people, RM100bil to support businesses including small and medium enterprises. The billion dollar question is, has the government addressed their plight and ease the challenges of SMEs and entrepreneurs with this new Caring Package? We speak to co-founder of Marmalade and member of myF&B, Adam Ng, to hear his take on Package Prihatin.

See omnystudio.com/listener for privacy information.

See omnystudio.com/listener for privacy information.