SMEBiz - Business

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{"data":[{"cms_article_id":3742302,"np_article_id":1458467,"article_title":"Letting the young live in luxury","article_custom_fields":"{\"\":[\"\"],\"seo_meta_keywords\":[\"\"],\"seo_meta_description\":[\"\"],\"seo_meta_title\":[\"\"],\"sponsored_flag\":[\"\"],\"offer_flag\":[\"\"],\"featured_article_flag\":[\"\"],\"primary_category\":[\"\"],\"other_keywords\":[\"AffordableHousing, UrbanLiving, YoungRenters, PropTech, CoLivingSpaces, RentalSolutions, SmartLiving, 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people.\"],\"columnist\":[],\"byline_email\":[\"\"],\"wide_image\":[\"off\"],\"wide_template\":[\"\"],\"lifestyle_categories\":[\"\"],\"byline_photo\":[\"\"],\"wide_story_template\":[\"\"],\"company_brand\":[\"\"],\"requester\":[\"\"],\"video_programme\":[\"\"],\"video_category\":[\"\"],\"is_video_programme\":[\"\"],\"video_programme_start_date\":[\"\"],\"video_programme_end_date\":[\"\"],\"is_klik_article\":[\"\"],\"klik_start_date\":[\"\"],\"klik_end_date\":[\"\"],\"is_topik\":[\"\"],\"topik_start_date\":[\"\"],\"topik_end_date\":[\"\"],\"caption\":[\"\"],\"fbia\":[\"\"],\"mstar_status\":[\"\"],\"footnote\":[\"\"],\"is_exclusive\":[\"off\"],\"drupal_json\":[\"{\\\"type\\\":null,\\\"properties\\\":{\\\"PUBLISHED\\\":0,\\\"PROMOTED\\\":0,\\\"STICKY\\\":0},\\\"fields\\\":[]}\"],\"wp_custom_json\":[\"{\\\"type\\\":\\\"\\\",\\\"fields\\\":[]}\"],\"is_branded_article\":[\"\"],\"branded_article_start_date\":[\"\"],\"branded_article_end_date\":[\"\"],\"majoriti_paywall_story_type\":[\"\"],\"cxense_tags\":[\"\"],\"superapp_keyword_tagging\":[\"\"],\"external_source\":[\"\"],\"page_number\":\"19\",\"initial_publication\":\"StarBiz 7\",\"date_created\":\"2024-10-05 04:51:44\",\"date_modified\":\"2024-10-05 04:51:43\",\"last_modified_user\":\"Mathivanan A\\\/L Ramanathan\",\"section_color\":\"#FFFFFD\",\"target_page\":\"19\",\"cxense_metatags\":null}","publish_time":"2024-10-05 07:00:00","sub_section_id":10,"image_path":"{\"image_path\":\"uploads\\\/images\\\/2024\\\/10\\\/05\\\/2947825.jpeg\",\"cms_type\":\"live\",\"small_image\":\"\",\"is_updated\":\"0\",\"image_cropping\":\"{\\\"original_image\\\":{\\\"image_original_width\\\":1240,\\\"image_original_height\\\":930,\\\"icd_image_type\\\":\\\"original_image\\\"}}\",\"is_copied\":\"0\",\"media_type\":\"0\",\"image_caption\":\"Catering+to+young+renters%2C+the+properties+feature+regular+community+activities+and+convenient+amenities.+%E2%80%94+Photo%3A+LiveIn\",\"image_count\":3}","section_name":"Business","sub_section_name":"SMEBiz","permalink":"business\/smebiz\/2024\/10\/05\/letting-the-young-live-in-luxury","show_image_in_thumb":0,"a_custom_data":"{\"exclude_from_gallery\":null,\"lead_image_id\":null}","article_body":"<p>AFFORDABLE living quarters has long been a problem in South-East Asia, particularly among young people.<\/p>\r\r<p>A 2019 report by the Asian Development Bank showed that home prices in 90% of 211 cities in the Asia Pacific had become severely unaffordable for median-income households. Even rentals are skyrocketing.<\/p>\r\r<p>Enter proptech company LiveIn. Since 2020, it has worked to address the affordable housing crisis.<\/p>\r\r<p>\u201cWith over 60 million young people moving to cities for better opportunities, many are not able to afford quality homes, and settle for subpar rental accommodations,\u201d explains LiveIn chief executive officer and co-founder Keek Wen Khai.<\/p>\r\r<p>\u201cMeanwhile, property development continues to grow due to aggressive development strategies by developers, leading to low occupancy rates and unrealised returns for property owners.\u201d<\/p>\r\r<p>LiveIn\u2019s solution to the widening gap between supply and demand for long-stay accommodations is to transform vacant properties into modern, affordable homes, providing a comprehensive suite of services from interior design to marketing and tenant management.<\/p>\r\r<p>Through this approach, property owners can benefit from higher occupancies and better rental yields, while tenants get affordable, fully-furnished housing options in convenient locations.<\/p>\r\r<p>Targeting today\u2019s young renters, the business aims to deliver high-quality living, enhanced with flexible leases, integrated services, and community-focused events. Beyond local shores, the Malaysian-based company also has operations in Thailand, Vietnam and Indonesia.<\/p>\r\r<p>\u201cOffering affordable rental solutions at about US$200 per month, LiveIn has experienced rapid organic growth, operating close to 10,000 rooms across four countries while generating profits,\u201d Khai notes.<\/p>\r\r<p>While LiveIn\u2019s managed rent business model has quickly found success within the last four years, the company\u2019s story in fact dates back to 2015.<\/p>\r\r<p>Originally known as Hostel Hunting, the start-up was created with the goal of assisting university students in finding affordable, quality accommodations.<\/p>\r\r<p>\u201cInitially, the business involved buying properties, furnishing them, and renting them out to students,\u201d he says.<\/p>\r\r<p>\u201cHowever, this asset-heavy model wasn\u2019t scalable. Consequently, we pivoted to an online listing marketplace model that had over 100,000 listings at its peak. Although scalable, this model didn\u2019t ensure a consistent standard of offerings.\u201d<\/p>\r\r<p>This eventually led to the business\u2019 official rebrand to LiveIn. Focused around partnering with property owners on a revenue-sharing basis, the model provides a profitable and scalable way to bring affordable, furnished rooms to young people.<\/p>\r\r<p>According to Khai, one of the advantages of working with LiveIn as a landlord is that the business takes on management responsibilities for the properties, including covering operational costs and end-to-end tenant management, while the owner is updated with timely reports.<\/p>\r\r<p>\u201cEven during the MCO (movement control order), we were able to maintain a consistent and high rental collection rate for property owners,\u201d he says. By driving demand generation activities to boost occupancy levels, the business is able to ensure continuous, long-term passive incomes for owners.<\/p>\r\r<p>\u201cIn 2023, LiveIn achieved an average of 40% increased income for property owners and an average of above 85% occupancy.\u201d<\/p>\r\r<p>Additionally, property values are raised as a result of renovations, project management, interior design upgrades, and maintenance by LiveIn.<\/p>\r\r<p>For tenants, access to well-appointed, affordable housing enables students and young professionals to achieve better quality of life.<\/p>\r\r<p>\u201cOur goal is to empower young people in South-East Asia by giving them the financial freedom to pursue their life goals,\u201d Khai says. \u201cOur tenants have seen a remarkable 65% increase in disposable income.\u201d<\/p>\r\r<p>He says location, affordability and convenience are key factors for this customer segment when seeking long-term rentals.<\/p>\r\r<p>Taking into account the importance of proximity to workplaces and education hubs, LiveIn\u2019s properties are situated in areas near city centres and student towns, such as KLCC, Cyberjaya, Seputeh, Subang Jaya and Kampar.<\/p>\r\r<p>\u201cWe provide convenient amenities within the building and regularly organise community activities to promote a strong social network among the tenant community,\u201d he says.<\/p>\r\r<p>In May, LiveIn announced it had surpassed US$10.95mil in its pre-Series B funding round with an extended top-up investment of US$2.6mil from Korean Investment Partners. The firm stated that the funding will propel its growth across South-East Asia and fuel its aim to create vibrant, affordable communities for young adults in the region.<\/p>\r\r<p>\u201cWe expect to encounter challenges in understanding and navigating cultural differences in market expectations as we expand into new cities and countries,\u201d Khai reveals.<\/p>\r\r<p>\u201cBesides differing tenant expectations, property owners in different countries also vary in their awareness of LiveIn\u2019s managed rent model.\u201d<\/p>\r\r<p>He also notes that new locations come with the additional complication of varying building sizes and types that are in oversupply.<\/p>\r\r<p>\u201cTo address these challenges, we will focus on increasing owner engagement levels and refining our back-end systems to launch and operate effectively in new markets,\u201d Khai adds.<\/p>\r\r<p>\u201cThis will enable us to grow sustainably beyond the 10,000-room mark while maintaining high occupancies across all our rooms.\u201d<\/p>\r\r<p>The company has also been active in forging a number of strategic partnerships with operators to add a range of amenities such as gyms, coworking spaces, laundry services, entertainment and F&B to its vertically integrated buildings.<\/p>\r\r<p>\u201cThey are slated to go live successively this year, and we look forward to making a bigger impact in the market.\u201d<\/p>"},{"cms_article_id":3739665,"np_article_id":1453245,"article_title":"Making parking a cruise","article_custom_fields":"{\"wide_image\":[\"off\"],\"external_link\":[\"\"],\"byline_email\":[\"\"],\"drupal_json\":[\"{\\\"type\\\":null,\\\"properties\\\":{\\\"PUBLISHED\\\":0,\\\"PROMOTED\\\":0,\\\"STICKY\\\":0},\\\"fields\\\":[]}\"],\"wp_custom_json\":[\"{\\\"type\\\":\\\"\\\",\\\"fields\\\":[]}\"],\"summary\":[\"It's an all-too familiar story in Malaysia. Urban centres that are choked with vehicles, traffic jams and lots of time spent driving in search of a parking spot, which in turn contributes to further congestion.\"],\"footnote\":[\"\"],\"keyword_tagging\":[\"Star Biz7\"],\"other_keywords\":[\"UrbanMobility, ParkingSolutions, SmartParking, CashlessParking, EcoFriendlySpaces, TechDrivenParking, UrbanDevelopment\"],\"video_source\":[\"\"],\"paywall_package_type\":[\"Metered\"],\"branded\":[\"{\\\"is_branded\\\":\\\"0\\\"}\"],\"breaking_news_start_time\":[\"\"],\"breaking_news_end_time\":[\"\"],\"review_summary\":[\"\"],\"review_rating\":[\"\"],\"review_max_rating\":[\"\"],\"is_exclusive\":[\"off\"],\"media_gallery_flag\":[\"off\"],\"media_gallery_title\":[\"\"],\"send_to_scmp\":[\"off\"],\"company_brand\":[\"\"],\"requester\":[\"\"],\"cxense_tags\":[\"\"],\"page_number\":\"18\",\"initial_publication\":\"StarBiz 7\",\"date_created\":\"2024-09-28 06:36:16\",\"date_modified\":\"2024-09-28 06:36:16\",\"last_modified_user\":\"Mathivanan A\\\/L Ramanathan\",\"section_color\":\"#FFFFFD\",\"target_page\":\"18\",\"cxense_metatags\":\"\"}","publish_time":"2024-09-28 07:00:00","sub_section_id":10,"image_path":"{\"image_path\":\"uploads\\\/images\\\/2024\\\/09\\\/28\\\/2936051.jpg\",\"cms_type\":\"live\",\"small_image\":\"\",\"is_updated\":\"0\",\"image_cropping\":\"{\\\"original_image\\\":{\\\"image_original_width\\\":1240,\\\"image_original_height\\\":1004,\\\"icd_image_type\\\":\\\"original_image\\\"}}\",\"is_copied\":\"0\",\"media_type\":\"0\",\"image_caption\":\"\",\"image_count\":5}","section_name":"Business","sub_section_name":"SMEBiz","permalink":"business\/smebiz\/2024\/09\/28\/making-parking-a-cruise","show_image_in_thumb":0,"a_custom_data":"{\"exclude_from_gallery\":null,\"lead_image_id\":null}","article_body":"<p>IT\u2019S an all-too familiar story in Malaysia. Urban centres that are choked with vehicles, traffic jams and lots of time spent driving in search of a parking spot, which in turn contributes to further congestion.<\/p>\r\r<p>It can be quite painful. But not if Times24 Malaysia Sdn Bhd, the country\u2019s largest car park management company, has its way.<\/p>\r\r<p>Specialising in end-to-end parking management services, the business designs, develops, and manages parking facilities, using advanced technology and data analytics to optimise parking spaces and streamline traffic flow.<\/p>\r\r<p>\u201cOur objective is to transform underused spaces into valuable assets for property owners while enhancing accessibility and convenience for the public,\u201d says Times24 co-chief executive officer and chief commercial officer Ong Yeong Wee.<\/p>\r\r<p>Established in 1994, the company works with more than 100 business partners and manages over 160 parking lots across Malaysia.<\/p>\r\r<p>It is also a member of the Japan-based PARK24 Group, an affiliation which Ong says ensures the business continually upholds the highest industry standards.<\/p>\r\r<p>\u201cAs part of PARK24 Group, we have a wealth of experience and expertise from one of the largest car park management operators in Japan,\u201d he notes.<\/p>\r\r<p>This knowhow is exemplified in the meticulous and comprehensive approach in transforming a lot into a Times24 parking space.<\/p>\r\r<p>\u201cIt begins with an initial site assessment, including feasibility studies and traffic analysis, to evaluate factors such as location, accessibility, potential traffic flow improvements, and environmental impact,\u201d he says.<\/p>\r\r<p>Another key step in the early stages is to engage with stakeholders such as developers and landowners to discuss the potential benefits and returns of the proposed parking solution. Following this, a customised parking layout is designed by the team, tailored specifically to the needs of its location.<\/p>\r\r<p>During construction, top priority is placed on safety and environmental regulations.<\/p>\r\r<p>\u201cThere is also a focus on creating a facility that is both functional and aesthetically pleasing. This phase considers essential aspects like lighting, signage, and accessibility,\u201d Ong adds.<\/p>\r\r<p>Upon completion of a parking space, Times24 typically takes on the management of the facility. This includes overseeing day-to-day operations, maintenance, and customer service. Management systems implemented include 24\/7 customer support, automated access control, and regular maintenance services.<\/p>\r\r<p>\u201cWe also handle all aspects of sales and marketing to maximise the profitability of the parking site.\u201d<\/p>\r\r<p>The structured nature of the process, he says, allows Times24 to offer a seamless experience for users while maximising yield returns for property owners.<\/p>\r\r<p>According to Ong, factors such as location, safety, convenience, and cost are of prime importance to consumers and landlords when it comes to choosing parking facilities. \u201cConsumers prefer well-located, secure, and easy-to-access parking with fair pricing. Landlords seek efficient management and potential revenue generation,\u201d he observes.<\/p>\r\r<p>To address these needs, the business offers facilities that are strategically located with robust security features, competitive pricing and management solutions geared towards heightening user experience and property value.<\/p>\r\r<p>To meet evolving consumer needs, Times24 embraced the integration of technology.<\/p>\r\r<p>An increasing number of its parking spaces feature cashless systems and Licence Plate Recognition (LPR) technology, which allow for a smoother parking experience and lessen the need for physical infrastructure like ticket booths and payment machines.<\/p>\r\r<p>\u201cLPR is gaining popularity in Malaysia, enhancing the efficiency and convenience of parking management. Our survey in Malaysia shows that over 60% of users prefer cashless, with approximately 70% of our car parks already integrating them,\u201d he says.<\/p>\r\r<p>\u201cThis not only reduces resource usage but also contributes to a more efficient and eco-friendly parking experience. Additionally, we support the use of electric vehicles by providing charging stations.\u201d<\/p>\r\r<p>Successful projects by Times24 include ones at Taman Desa Business Park in Kuala Lumpur, Lebuh Noordin in Penang, and Jalan Jubilee in Ipoh.<\/p>\r\r<p>\u201cBy converting underused areas into state-of-the-art parking facilities, we have significantly alleviated traffic congestion and provided convenient parking solutions for local businesses and residents.\u201d<\/p>\r\r<p>Citing the increasing rate of vehicle ownership, demographic expansion in urban areas, and the rise in commercial and residential developments, Ong says the market for parking areas in Malaysia is poised for significant growth in the next three to five years.<\/p>\r\r<p>\u201cThe availability of approximately 20% unused land in regions like the Klang Valley presents an opportunity for the development of new parking facilities.\u201d<\/p>\r\r<p>To strengthen its position as a leading parking management provider, Times24 is now focused on increasing its presence in key urban areas through new parking sites.<\/p>\r\r<p>\u201cThe number of managed lots is continually expanding as we identify new opportunities,\u201d Ong further adds.<\/p>\r\r<p>\u201cWe aim to leverage our experience and market knowledge to target high-demand locations, ensuring convenient and accessible parking solutions for our customers.\u201d<\/p>\r\r<p>\u201cWe are also committed to developing and deploying innovative parking management technologies.<\/p>\r\r<p>\u201cOur sustainability initiatives are a key focus area, as we aim to enhance eco-friendly practices within our facilities.\u201d<\/p>"},{"cms_article_id":3736885,"np_article_id":1447903,"article_title":"Notti makes good with pet nutrition","article_custom_fields":"{\"\":[\"\"],\"wide_image\":[\"off\"],\"external_link\":[\"\"],\"byline_email\":[\"\"],\"drupal_json\":[\"{\\\"type\\\":null,\\\"properties\\\":{\\\"PUBLISHED\\\":0,\\\"PROMOTED\\\":0,\\\"STICKY\\\":0},\\\"fields\\\":[]}\"],\"wp_custom_json\":[\"{\\\"type\\\":\\\"\\\",\\\"fields\\\":[]}\"],\"summary\":[\"Data from Fortune Business Insights reveals that the global pet food market was valued around US$120bil last year. The segment is projected to grow to US$193bil within the next decade, representing a compound annual growth rate (CAGR) of over 5%.\"],\"footnote\":[\"\"],\"keyword_tagging\":[\"Star Biz7\"],\"other_keywords\":[\"PetFoodMarket, HealthyPetFood,PremiumKibble, PetNutrition, PetOwnership, AsiaPetMarket, HumanGradeIngredients\"],\"video_source\":[\"\"],\"paywall_package_type\":[\"Metered\"],\"branded\":[\"{\\\"is_branded\\\":\\\"0\\\"}\"],\"breaking_news_start_time\":[\"\"],\"breaking_news_end_time\":[\"\"],\"review_summary\":[\"\"],\"review_rating\":[\"\"],\"review_max_rating\":[\"\"],\"is_exclusive\":[\"off\"],\"media_gallery_flag\":[\"off\"],\"media_gallery_title\":[\"\"],\"send_to_scmp\":[\"off\"],\"company_brand\":[\"\"],\"requester\":[\"\"],\"cxense_tags\":[\"\"],\"page_number\":\"23\",\"initial_publication\":\"StarBiz 7\",\"date_created\":\"2024-09-21 05:27:38\",\"date_modified\":\"2024-09-21 05:27:38\",\"last_modified_user\":\"Mathivanan A\\\/L Ramanathan\",\"section_color\":\"#FFFFFD\",\"target_page\":\"23\",\"cxense_metatags\":\"\"}","publish_time":"2024-09-21 07:00:00","sub_section_id":10,"image_path":"{\"image_path\":\"uploads\\\/images\\\/2024\\\/09\\\/21\\\/2923440.JPG\",\"cms_type\":\"live\",\"small_image\":\"\",\"is_updated\":\"0\",\"image_cropping\":\"{\\\"original_image\\\":{\\\"image_original_width\\\":1240,\\\"image_original_height\\\":826,\\\"icd_image_type\\\":\\\"original_image\\\"}}\",\"is_copied\":\"0\",\"media_type\":\"0\",\"image_caption\":\"Notti+Pet+Food+Team+%28from+left%29+Amelia+Tang%2C+Shing+Wei%2C+Keyee+Yap%2C+and+Sarah+Koay.\",\"image_count\":6}","section_name":"Business","sub_section_name":"SMEBiz","permalink":"business\/smebiz\/2024\/09\/21\/notti-makes-good-with-pet-nutrition","show_image_in_thumb":0,"a_custom_data":"{\"exclude_from_gallery\":null,\"lead_image_id\":null}","article_body":"<p>DATA from Fortune Business Insights reveals that the global pet food market was valued around US$120bil last year. The segment is projected to grow to US$193bil within the next decade, representing a compound annual growth rate (CAGR) of over 5%.<\/p>\r\r<p>The pet food market is also displaying tremendous growth in the Asia-Pacific region. Currently worth US$34bil, the segment should be worth US$53bil in 2029, representing a CAGR of over 9%, according to Mordor Intelligence.<\/p>\r\r<p>This growth is a direct result of increasing of pet ownership. On local shores, over half of Malaysians (51.1%) own pets \u2013 and the figure is expected to rise, according to Standard Insights\u2019 latest Consumer Report Malaysia 2023.<\/p>\r\r<p>Because of the limited choice of high-quality pet food, the industry will choose lower-quality options as pet ownership increases. This compromise on quality can be detrimental to the health of pets.<\/p>\r\r<p>As a pet parent to both a dog and a cat, Keyee Yap is adamant about giving her pets the best. She admits, however, that nothing met her expectations when finding the right food for her \u201cfur babies\u201d. With a background in food science and nutrition, and experience working with healthy, organic food companies, she decided to take a closer look at pet nutrition.<\/p>\r\r<p>The end result was Notti Pet Food, a Malaysian homegrown brand, which focuses on health, convenience and nutritious treats and foods for pets.<\/p>\r\r<p>Established just last year, Notti aims to offer a superior alternative to traditional pet food. The unique product line uses 100% human-grade meat and is enriched with fruits, vegetables, probiotics and prebiotics, setting it apart from commercial brands that rely on meat meal and ambiguous labelling.<\/p>\r\r<p>Using real ingredients and a gentle 90\u00b0C slow-baking method, Notti preserves the nutritional integrity of the ingredients, compared to the high-temperature extrusion processes used by major brands.<\/p>\r\r<p>Yap explains that the entire process to develop the range of foods, including research and development, took about six months.<\/p>\r\r<p>As a pet owner herself, Yap was convinced the market was ready for super premium kibbles.<\/p>\r\r<p>\u201cPets are like family, we want to give them the very best,\u201d she elaborates. \u201cPeople today are increasingly seeking better options in every aspect of life \u2013 from the food we eat to the products we choose for our pets. The shift towards higher-quality, healthier choices is clear, making it the perfect time to introduce super premium kibbles.\u201d<\/p>\r\r<p>Although the pet industry is growing rapidly, Yap opines that the super premium segment, particularly nutritious, high-quality pet food, is still underserved.<\/p>\r\r<p>\u201cMany products fall short in terms of ingredient quality and nutritional value,\u201d she says.<\/p>\r\r<p>\u201cMany pet owners are becoming more aware of what they feed their pets and are looking for better options. However, they often find themselves with limited options as the market doesn\u2019t always offer quality they\u2019re seeking.<\/p>\r\r<p>\u201cThis gap is what inspired Notti, to offer a solution for health-conscious pet parents,\u201d she adds.<\/p>\r\r<p>Foods offered by Notti have received veterinary endorsements, exceeding international AAFCO (Association of American Feed Control Officials) nutrient standards, and suitable for all ages, breeds, and sizes. The brand has also caught the eye of markets across South-East Asia.<\/p>\r\r<p>Notti is available on its official website, as well as on Shopee, Lazada, and TikTok. It is also available in over 130 physical pet stores across Malaysia.<\/p>\r\r<p>\u201cWe\u2019ve also expanded to Singapore, the Philippines, and Hong Kong, making it easier for pet owners in these regions to access our premium offerings,\u201d says Yap.<\/p>\r\r<p>In June, the company secured seed investment of US$500,000 from 500 Global and First Move, marking a major milestone in the bootstrapped company\u2019s journey. The new capital will be used to drive Notti\u2019s strategic initiatives, including launching new product lines and expansion in South-East Asia.<\/p>\r\r<p>\u201cWe plan to use the seed funding to enhance and diversify our product offerings, providing even better options for pet owners,\u201d says Yap.<\/p>\r\r<p>\u201cThis funding will also allow us to expand our product line and increase our brand awareness, ensuring more people learn about Notti. Additionally, we aim to invest in initiatives that support and engage the pet community, further solidifying our commitment to improving the lives of pets and their owners.\u201d<\/p>"},{"cms_article_id":3734231,"np_article_id":1442749,"article_title":"Serving up a platter of health","article_custom_fields":"{\"\":[\"\"],\"wide_image\":[\"off\"],\"permalink\":[\"business\\\/smebiz\\\/2024\\\/09\\\/14\\\/serving-up-a-platter-of-health\"],\"external_link\":[\"\"],\"byline_email\":[\"\"],\"drupal_json\":[\"{\\\"type\\\":null,\\\"properties\\\":{\\\"PUBLISHED\\\":0,\\\"PROMOTED\\\":0,\\\"STICKY\\\":0},\\\"fields\\\":[]}\"],\"wp_custom_json\":[\"{\\\"type\\\":\\\"\\\",\\\"fields\\\":[]}\"],\"summary\":[\"It's an alarming statistic. Over 54% of Malaysian adults are either overweight or obese, a sharp rise of nearly 10% since 2011, according to the National Health and Morbidity Survey (NHMS) 2023.\"],\"footnote\":[\"\"],\"keyword_tagging\":[\"Corporate News\",\"Star Biz7\"],\"other_keywords\":[\"HealthyEating, ObesityCrisis, SustainableFood, SaladAtelier, HealthConscious, FoodInnovation, EatClean, WellnessJourney\"],\"video_source\":[\"\"],\"paywall_package_type\":[\"Metered\"],\"branded\":[\"{\\\"is_branded\\\":\\\"0\\\"}\"],\"breaking_news_start_time\":[\"\"],\"breaking_news_end_time\":[\"\"],\"review_summary\":[\"\"],\"review_rating\":[\"\"],\"review_max_rating\":[\"\"],\"is_exclusive\":[\"off\"],\"media_gallery_flag\":[\"off\"],\"media_gallery_title\":[\"\"],\"send_to_scmp\":[\"off\"],\"company_brand\":[\"\"],\"requester\":[\"\"],\"cxense_tags\":[\"\"],\"page_number\":\"22\",\"initial_publication\":\"StarBiz 7\",\"date_created\":\"2024-09-14 06:18:48\",\"date_modified\":\"2024-09-14 06:20:27\",\"last_modified_user\":\"Mathivanan A\\\/L Ramanathan\",\"section_color\":\"#FFFFFD\",\"cxense_metatags\":\"\",\"target_page\":\"22\"}","publish_time":"2024-09-14 07:00:00","sub_section_id":10,"image_path":"{\"image_path\":\"uploads\\\/images\\\/2024\\\/09\\\/14\\\/2911886.jpg\",\"cms_type\":\"live\",\"small_image\":\"\",\"is_updated\":\"0\",\"image_cropping\":\"{\\\"original_image\\\":{\\\"image_original_width\\\":null,\\\"image_original_height\\\":null,\\\"icd_image_type\\\":\\\"original_image\\\"}}\",\"is_copied\":\"0\",\"media_type\":\"0\",\"image_caption\":\"%E2%80%9CEven+today%2C+there+are+people+who+have+the+mindset+of%3A+%E2%80%98Why+would+I+want+to+pay+more+for+vegetables+when+I+can+have+a+chicken+chop+at+a+cheaper+price%2C%E2%80%9D+says+Dylan+Lee%2C+founder+of++Salad+Atelier.\",\"image_count\":3}","section_name":"Business","sub_section_name":"SMEBiz","permalink":"business\/smebiz\/2024\/09\/14\/serving-up-a-platter-of-health","show_image_in_thumb":0,"a_custom_data":"{\"exclude_from_gallery\":null,\"lead_image_id\":null}","article_body":"<p>IT\u2019S an alarming statistic. Over 54% of Malaysian adults are either overweight or obese, a sharp rise of nearly 10% since 2011, according to the National Health and Morbidity Survey (NHMS) 2023.<\/p>\r\r<p>In 2014, a study by British medical journal, The Lancet, showed that Malaysia was the most obese country in Asia.<\/p>\r\r<p>Dylan Lee, founder of MBFE Sdn Bhd and its highly popular brand Salad Atelier, was among those who were shocked by the revelation. He has since made it his mission to make sustainable, healthy eating accessible to all.<\/p>\r\r<p>Lee established his food and beverage (F&B) business in 2014 after coming across news of Malaysia\u2019s obesity ranked in Asia.<\/p>\r\r<p>\u201cWe had this big problem, and I felt there had to be something we could do for the population. That\u2019s when I decided to come back and start this venture.\u201d<\/p>\r\r<p>Prior to founding Salad Atelier, Lee worked as a business adviser at PwC Singapore, where restaurants specialising in salads and healthy meals were often frequented by working professionals. \u201cIn Malaysia, you didn\u2019t really see that. At the time, salads were only found in some cafes and Western restaurants, and they were usually very standard ones such as Caesar Salad.\u201d<\/p>\r\r<p>Building a business based around health-focused food was nothing short of a challenge, he shares, because it required shifting long-held attitudes of local consumers.<\/p>\r\r<p>\u201cEven today, there are people who have the mindset of: \u2018Why would I want to pay more for vegetables when I can have a chicken chop at a cheaper price?\u2019,\u201d he says.<\/p>\r\r<p>\u201cAt the beginning, our customers were 80% expats and 20% locals. But after 10 years, I would say a significant majority are Malaysian.\u201d Lee credits this to continuous efforts in educating people and a younger generation that increasingly favours healthier meals.<\/p>\r\r<p>Part of this strategy involved adapting the brand\u2019s offerings in a way that would cater to local tastes, and bridge the space between familiar flavours and healthy eating.<\/p>\r\r<p>\u201cIf you want to speak to the general population, you need to tweak things to their liking, so we first tried out our nasi lemak wrap where we replaced rice with quinoa, fusing local fare with healthy food,\u201d he says.<\/p>\r\r<p>\u201cWith locally-inspired options on our menus, we are able to reach those who are more sceptical and show that healthy food can taste good and be part of their main diet.\u201d<\/p>\r\r<p>Today, Salad Atelier boasts 35 outlets with three more set to open by year\u2019s end. Lee also reveals plans for over 20 new stores next year.<\/p>\r\r<p>\u201cWe see dining-in coming back very strong,\u201d he states. \u201cAfter the pandemic, I expected the shift towards delivery to last, but to our surprise, people love to dine in. Malaysians love to spend time out with each other, and those that work in offices also enjoy having some time away from their desks.\u201d<\/p>\r\r<p>Salad Atelier\u2019s menus, which feature customisable bowls and wraps on top of a wide range of healthy salads, grain bowls, burgers and pasta dishes, have had a notable appeal among the office crowd.<\/p>\r\r<p>\u201cGenerally, our business does very well from Monday to Thursday, when people are working and need a quick and healthy fix.\u201d<\/p>\r\r<p>For those with a preference for takeaway over dining-in, Lee says that as part of its sustainability initiatives, the business encourages customers to bring their own containers to reduce packaging waste. Those who bring their own containers get a RM1 discount.<\/p>\r\r<p>Salad Atelier, which celebrates its 10th anniversary this year, has become a go-to name for health-conscious diners. Its parent company, MBFE, has a business-to-business (B2B) arm which offers health-focused catering and corporate canteen operation services.<\/p>\r\r<p>The catering division also supplies food provisions to offshore companies.<\/p>\r\r<p>\u201cWe ventured into catering around our first to second year of starting Salad Atelier. It began with us taking more corporate client orders for healthy meals, and they eventually began asking us to provide out-of-menu items. From there, we were doing all kinds of catering services and we also started receiving requests to run cafeterias for corporations,\u201d he says.<\/p>\r\r<p>\u201cBy 2017, we had our own fully-equipped central kitchen that serves both our restaurants and our catering business.\u201d<\/p>\r\r<p>Along with benefiting from economies of scale, Lee feels that MBFE\u2019s business-to-consumer (B2C) and B2B segments complement each other, with the former making up about 80% of the business and the latter 20%.<\/p>\r\r<p>\u201cThat\u2019s the golden ratio I want,\u201d he states, adding that he continually aims to maintain this ideal operational balance. \u201cBoth components are equally beneficial, as B2B gives you a consistency of income, while B2C provides the flexibility to do more.\u201d<\/p>\r\r<p>The founder is a firm believer in having a central kitchen, particularly due to the level and scope of control it provides. \u201cWith central purchasing, we can find out exactly where something went wrong by tracing the specific batch,\u201d he says.<\/p>\r\r<p>\u201cOur ingredients are sourced directly from farmers, and because there\u2019s no middleman, we don\u2019t have to pay the price differentials. These cost advantages are then passed on to the customers.\u201d<\/p>\r\r<p>On goals for growth and expansion, Lee says the company has its sights set on an initial public offering (IPO) a few years down the road.<\/p>\r\r<p>\u201cWe are planning and preparing ourselves to potentially take that path,\u201d he reveals.<\/p>\r\r<p>There are also plans to extend the brand beyond local borders.<\/p>\r\r<p>Lee says: \u201cBuilding on our mission, we aim to have Salad Atelier everywhere around Malaysia and South-East Asia, so healthy food can become an affordable staple for everyone.\u201d<\/p>"},{"cms_article_id":1748188,"old_article_id":"0E1530BC-DD70-49DA-96C5-3642CC612CB9","article_title":"Training the trainers","article_name":"Training the trainers","article_headline":"Training the trainers","article_subtitle":"","article_body":"<p>ALTHOUGH their passion for fitness started as a personal choice for a healthier lifestyle, the duo behind iConFIT has found that there is much to do when it comes to making a business out of staying fit. <\/p><p>The husband-and-wife team, Ryan Ooi and Karine Lee, sees iConFIT as being at the forefront of disrupting the fitness training industry.<\/p><p>One of the company’s main missions and also its key ingredient in shaping up a successful business model is by offering a path for its customers to be a certified trainer at an affordable price to cater to the growing number of fitness enthusiasts and the health conscious.<\/p><p>Lee says iConFIT is looking to fill a gap in the professional fitness training segment as there is a lack of clarity in the regulations governing the fitness industry – just about anybody can claim that they can teach in the health and fitness field. She hopes to bring in a better sense of professionalism and career growth to the industry through its certification programme. <\/p><p>“It is one of the most abused and unregulated businesses in Malaysia, with the welfare and career path of personal and fitness trainers often neglected. As a trainer for more than a decade, I have seen coaches that charge RM50 per session.<\/p><p>“Not everyone can excel academically, but we can see that there are a lot of youths who are interested in this fitness lifestyle that is getting increasingly popular. <\/p><p>“Our members are also very interested and dedicated to what we do and sometimes they, too, enquire about opportunities to be involved in the business to build a career out of this,” shares Lee.<\/p><p>According to Lee, the career as a trainer is actually very short.<\/p><p><div class=\"embeded-image inline-image-center\"><img alt=\"\" height=\"558\" width=\"398\" src=\"https:\/\/media.thestar.com.my\/Prod\/23E993E7-526D-4DC2-AF95-D9E9FF4E60F3\" \/><div class=\"inline-caption\">Going nowhere: Lee notes that there is not much career growth for personal trainers.<\/div><\/div><\/p><p>“Unfortunately, these practices continue to plague the local health and fitness industry. One of the reasons why I decided to take up a professional fitness certification was to educate myself on the proper methods and techniques of exercise and programme design,” she says.<\/p><p>But while she agrees that it is important for fitness professionals to acquire professional certification, Lee stresses that having a cert is no guarantee that one can actually translate that knowledge into actual practice.<\/p><p>Above all, it is important to identify the general level of training these fitness professionals have received. This is especially so because they are in the business of helping people feel more confident and comfortable about themselves.<\/p><p>Rather than have interested trainers spend huge amounts of money to get a training that involves several layers of certifications, iConFIT offers those keen on promoting a healthy lifestyle a simpler process of obtaining the relevant qualifications. <\/p><p>The main point here, adds Lee, is to ensure longevity and a sustainable career for those who are committed to spreading the message of healthy living.<\/p><p>At iConFIT, the company tries to help potential trainers not just by equipping them with the skills and certificate needed to be a trainer, it also tries to provide them with a path to move up the value chain by giving certified trainers the opportunity to build and grow their own gym business under the iConFIT banner. This, in turn, helps the company grow its number of outlets.<\/p><p>In other words, the company is putting in effort to build its trainers because, truly, their success will lead to the success of the company.<\/p>","author_name":"C.H. GOH","author_id":-681399,"publish_time":"2019-07-29 00:00:00","last_edited":"2019-11-28 23:04:30","permalink":"business\/smebiz\/2019\/07\/29\/training-the-trainers","summary":"ALTHOUGH their passion for fitness started as a personal choice for a healthier lifestyle, the duo behind iConFIT has found that there is much to do when it comes to making a business out of staying fit.","article_byline":"","is_old_article":1,"image_path":"","article_tags":"","section_id":76,"section_name":"Business","sub_section_name":"SMEBiz","sub_section_id":2000110,"is_archive":"1","article_custom_fields":"{\"keyword_tagging\":[\"\"],\"other_keywords\":[\"\"],\"summary\":[\"ALTHOUGH their passion for fitness started as a personal choice for a healthier lifestyle, the duo behind iConFIT has found that there is much to do when it comes to making a business out of staying fit. \"],\"paywall_package_type\":[\"Metered\"]}","is_premium":0,"related_articles_ids":"3286E94E-E218-4546-B0EA-AC2292AB3CFA","column_name":"","column_image_url":""},{"cms_article_id":1748182,"old_article_id":"3286E94E-E218-4546-B0EA-AC2292AB3CFA","article_title":"Shaping up a fit business","article_name":"Shaping up a fit business","article_headline":"Shaping up a fit business","article_subtitle":"","article_body":"<p>AT 49, Ryan Ooi Ghee Lik is still full of energy and enthusiasm as he stands for almost an hour, leading a youthful group of professional trainers in a demonstration of exercise routines. <\/p><p>“I’ve always been sports-oriented, I love being involved in sports and have even represented the state of Penang in Karate competition,” he shares. <\/p><p>Clearly, fitness is a big part of Ooi’s life. Not only has it given him some of the biggest challenges and accomplishments in his life, it has also provided him with an opportunity to build a fitness club business in iConFIT Group. The company, he says, is a testament of how far his passion has brought him.<\/p><p>Ooi founded the company with his wife Karine Lee. <\/p><p>“We actually started iConFIT by accident, out of passion and the quest for wellness, without any business experience or intention,” says Lee.<\/p><p>Lee, who is the company’s marketing director, recalls that she used to be a workaholic during her days in the private sector. Coupled with work stress and a lack of exercise, she began to feel worn out. <\/p><p>Not one to take things as it is, Lee and Ooi started spending time to research and refine their fitness regimes to develop a healthier lifestyle.<\/p><p>This then led to the couple wanting to share what they had learned with others who could benefit from it.<\/p><p><div class=\"embeded-image inline-image-center\"><img height=\"399\" alt=\"Big demand: Lee and Ooi went from free public exercise classes to serious business as their fitness classes gain traction.\" width=\"600\" src=\"https:\/\/media.thestar.com.my\/Prod\/B8D769BF-8FE9-4627-AC1D-F4D95F95877C\" \/><div class=\"inline-caption\">Big demand: Lee and Ooi went from free public exercise classes to serious business as their fitness classes gain traction.<\/div><\/div><\/p><p>IConFIT’s early days took shape in the form of free exercise classes for the public in open spaces. But what started out as just something of interest and for personal well-being five years ago has now become a serious business for the pair as the club continues to gain traction amid the current health trend.<\/p><p>The main pull factor here, says Lee, is the fact that iConFIT focuses on making exercise and fitness a fun, flexible and affordable option for those who are newcomers to an organised fitness regime.<\/p><p>Ooi, being a fitness enthusiast himself, is the main brains behind the company’s new fitness regimes. He says fellow enthusiasts are always on the lookout for either new forms of workouts or additional routines.<\/p><p>Combining trending workout regimes such as Zumba and Yoga with its in-house designed routines such as speed drumming, he says its energetic and vibrant movements have caught on with a growing number of followers.<\/p><p>“For many people, fitness is starting to become a lifestyle, and we wanted to bring that habit to Malaysia and make a positive impact by helping people get fitter, healthier and feeling good,” says Ooi.<\/p><p>Ooi also notes a growing number of professionals such as doctors and architects at its classes as more people start to see the value of and opportunities in an active fitness regime.<\/p><p><strong>Recruiting growth<\/strong><\/p><p>Unlike a typical fitness chain that focuses on building up scale and promoting celebrity elements in exercise, iConFIT provides fitness training and exercises designed for promotion of healthy lifestyle for an average urbanite.<\/p><p>The company’s main customer recruitment strategy is targeted at fitness novices who are new to exercise – people who are genuinely interested in living better lives.<\/p><p>Getting fit has moved from being just a trend to a necessity, says Ooi. <\/p><p>“Our fundamentals and philosophies are very different to that of other health clubs. We aim to have growth through our own network of customers who will themselves become certified trainers, where they can then open a new centre under our iConFIT concept,” he says.<\/p><p>He believes that customers make the best ambassadors for a brand. And when a customer believes in a lifestyle or a brand enough to want to become certified trainers themselves, chances are the new centres under them will be in good hands.<\/p><p><div class=\"embeded-image inline-image-center\"><img height=\"400\" alt=\"Different moves: Ooi says fitness enthusiasts are always on the lookout for new routines.\" width=\"600\" src=\"https:\/\/media.thestar.com.my\/Prod\/47FDE4FA-11B4-404E-A9C3-9852972B5772\" \/><div class=\"inline-caption\">Different moves: Ooi says fitness enthusiasts are always on the lookout for new routines.<\/div><\/div><\/p><p>One of the key advantages of iConFIT is the fact that the company’s expansion and new outlets are driven by the success of turning its customers into professional fitness trainers. They will have the ability to select the areas to operate in, and operations are catered to the local customer demographics.<\/p><p>The company currently has 24 centres, mainly concentrated in the Klang Valley while the first outlets in the southern state of Johor and in Kuching, Sarawak are expected to be ready within the third quarter of this year, says Lee. <\/p><p>Each centre can accommodate between 100 and 150 students, and has an average turnover of up to RM 5,000 per month.<\/p><p>“We try to keep the number of students for each centre low so that we can provide a more personalised approach and have better interactions between trainer and students. <\/p><p>“Most people are not as aware or as exposed to the benefits of healthy living and regular exercise. But it is also not easy for people to leave their homes and come for a workout in a gym on a frequent basis, so we provide for evolving class timetable. <\/p><p>“There is also a need to have professional certified staff who’ll engage with and motivate our members to see results in their fitness programme. This encourages them to keep coming back,” adds Lee.<\/p><p><strong>Fit for growth<\/strong><\/p><p>As the fitness trend continues to catch on, so is the number of new gyms and fitness centres. Certainly, they have been mushrooming in shopping malls, in commercial areas and even near residential areas.<\/p><p>But has the boutique gym scene in town reached a saturation point? According to Lee: far from it.<\/p><p>She opines that there is still a lot of room in the market to tap into, particularly in smaller cities and towns. The company just started exploring markets outside of Kuala Lumpur, where Lee notes that gyms are not as easily accessible to people.<\/p><p>She adds that there is potential for a new opening within every 8km to 10km radius in all major towns and cities.<\/p><p>“We are very careful in selecting a partner that will carry out this business concept. We have to ensure that they share our value in promoting a healthy lifestyle to our members, and this takes time for us to be confident that a new trainer is qualified and ready for such a challenge. <\/p><p>“This is one of the biggest hurdles in expanding our presence,” she says.<\/p><p>While Lee and Ooi are eyeing potential opportunities in the market, they have not aggressively expanded their outlets as they are still actively looking for the right candidate to open up centres in major suburbs like Petaling Jaya, Subang and Shah Alam.“And we don’t even have a presence in Penang yet,” she says.<\/p><p><div class=\"embeded-image inline-image-center\"><img height=\"480\" alt=\"Untapped market: The company sees plenty of room for growth in smaller cities and towns.\" width=\"600\" src=\"https:\/\/media.thestar.com.my\/Prod\/FE69F70A-B88A-47C9-A054-844BA80302C8\" \/><div class=\"inline-caption\">Untapped market: The company sees plenty of room for growth in smaller cities and towns.<\/div><\/div><\/p><p>But she is confident that as their customer base grows, it will be able to add more outlets to its network.<\/p><p>“There will be many more openings and new recruits to join our ranks going forward.”<\/p><p>Apart from their ability in physical fitness training, Lee notes that it is also important to look for the right talent with the financial know-how to operate a centre. <\/p><p>The company is expected to roll out its mobile app as well as online training manuals by this year, in order to reach a wider customer base. This will also provide existing customers with the convenience of training at home.<\/p><p>The duo also notes that online coaching has become one of the trendier business models in town. This also makes educating the community on quality living through positive changes in lifestyle and eating habits more accessible, affordable and customisable.<\/p><p>Lee says the company is now looking beyond the local market and will explore potential strategic partnerships to tap potential in other Asean countries. It recently explored potential expansion plans into Vietnam and Singapore, but has put these plans temporarily on the shelf due to regulatory issues and high operation cost respectively.<\/p><p>Given the competitive nature of the fitness industry, the power couple has found a way to prove that the fitness game is not just confined to the big boys with deep pockets and celebrity endorsements.<\/p><p>Its flexible and open concept has opened up a market for people looking for options that have not existed before. But the true health of the business, however, will be defined by the conversion rate of youths joining the ranks of the fitness club over the last five years, says Lee.<\/p>","author_name":"C.H. GOH","author_id":-681399,"publish_time":"2019-07-29 00:00:00","last_edited":"2019-11-28 23:04:30","permalink":"business\/smebiz\/2019\/07\/29\/shaping-up-a-fit-business","summary":"AT 49, Ryan Ooi Ghee Lik is still full of energy and enthusiasm as he stands for almost an hour, leading a youthful group of professional trainers in a demonstration of exercise routines.","article_byline":"","is_old_article":1,"image_path":"","article_tags":"","section_id":76,"section_name":"Business","sub_section_name":"SMEBiz","sub_section_id":2000110,"is_archive":"1","article_custom_fields":"{\"keyword_tagging\":[\"\"],\"other_keywords\":[\"\"],\"summary\":[\"AT 49, Ryan Ooi Ghee Lik is still full of energy and enthusiasm as he stands for almost an hour, leading a youthful group of professional trainers in a demonstration of exercise routines. \"],\"paywall_package_type\":[\"Metered\"]}","is_premium":0,"related_articles_ids":"0E1530BC-DD70-49DA-96C5-3642CC612CB9","column_name":"","column_image_url":""},{"cms_article_id":1748196,"old_article_id":"80EEE998-40E5-455E-99A7-1ABB7C522E72","article_title":"Catching the Olympics wave","article_name":"Catching the Olympics wave","article_headline":"Catching the Olympics wave","article_subtitle":"","article_body":"<p>GOLDEN Fresh Sdn Bhd is pursuing opportunities to supply seafood for the Tokyo Olympics 2020. <\/p><p>\u201cWith the Tokyo Olympics 2020 games approximately one year away, the company is aggressively pursuing opportunities with our Matrade offices both in Kuala Lumpur and Tokyo.<\/p><p>\u201cOur Japanese importer is also working closely with the Ministry of Agriculture Fisheries Attach\u00e9 in Tokyo to source seafood products from us to supply to the Olympics,\u201d\u200c Golden Fresh chief executive officer Saw Hai Earn says. <\/p><p>If it is successful in securing the supply contract, the company\u2019s sales will rise significantly.<\/p><p>\u201cSome 920,000 tourists are expected to visit Tokyo per day during the Olympics,\u201d\u200c Saw adds. <\/p><p>Golden Fresh has supplied to international sporting events such as the Sydney Olympic 2000, Wimbledon Championships, Rugby World Cup and the 2018 Commonwealth Games in Australia. <\/p><p>\u201cWith our credentials, we are optimistic of our chances to win the contract to supply to the Tokyo Olympics,\u201d\u200c Saw says.<\/p><p>According to Saw, the company has secured new markets in Poland, Korea and the US.<\/p><p>\u201cIn the US, we have inked a deal to supply to Sysco, a giant foodservice powerhouse that distributes food products to restaurants, institutions and hospitality businesses.<\/p><p>\u201cWe are also expecting our customers such as Disneyland and Ikea to ramp up orders,\u201d\u200c he says.<\/p><p>Golden Fresh sells to Disneyland in Hong Kong, China and France as well as Ikea outlets in France, Dubai, Japan, Hong Kong, Singapore and Malaysia.<\/p><p>\u201cWe have recently obtained the coveted Ikea\u2019s supplier code of conduct which will enable us access to more outlets globally. The new Ikea outlets we are targeting are in Germany, Norway and China,\u201d\u200c he says. <\/p><p>To cater to the rising demand of its customers, Golden Fresh is now expanding its operations in Butterworth.<\/p><p>\u201cWe are building a new 41,000 sq ft production plant and adding a 2,500-tonnes increase in storage capacity for our cold room facility. The expansion should be ready by the end of 2019, which will boost production capacity by 15%,\u201d\u200c he adds.<\/p><p>Golden Fresh plans to raise its exports to 17,000 tonnes per annum by 2023. This year, it is expecting to export some 13,600 tonnes of frozen seafood, a 10% increase from 2018. <\/p><p>Almost 80% of its exports go to Australia, the UK and France.<\/p><p>However, there is competition coming from China.<\/p><p>\u201cWe are facing strong price competition from China as there is a substantial drop in their exports to the US with the recent increase in tariffs of up to 25%. This means they have to dump the products elsewhere at low prices. <\/p><p>\u201cThe Chinese exporters also enjoy export subsidies granted by the government.<\/p><p>\u201cOn our end, the increasing energy cost and implementation of minimum wage and the increase in foreign worker levy not only lead to a direct impact on our product costs, but also to all our locally purchased sub-materials.<\/p><p>\u201cThe weakened ringgit only adds salt to injury,\u201d\u200c he says.<\/p><p>To remain competitive, Saw says the company sources the bulk of its seafood from the South Atlantic and Pacific Ocean where fishery operations are well-managed under the Marine Stewardship Council certification.<\/p><p>\u201cWe\u2019ve observed that wild caught seafood is of higher quality and fetches a better price in the market.<\/p><p>\u201cAccording to the US Bureau of Labor Statistics, prices for fresh fish and seafood were 5.07% higher in 2019 versus 2017. <\/p><p>\u201cIn other words, fresh fish and seafood costing US$20 (RM82) per kg in the year 2017 would cost US$21.01 in 2019 for an equivalent purchase,\u201d\u200c Saw says.<\/p><p>This year, Golden Fresh has once again made Malaysia proud at the Seafood Expo Global by winning the prestigious Seafood Excellence Global 2019 award under the Convenience Product category for their Prawn in Hor Mok Thai Coconut Sauce.<\/p>","author_name":"DAVID TAN","author_id":-680749,"publish_time":"2019-07-29 00:00:00","last_edited":"2019-11-28 23:04:27","permalink":"business\/smebiz\/2019\/07\/29\/catching-the-olympics-wave","summary":"GOLDEN Fresh Sdn Bhd is pursuing opportunities to supply seafood for the Tokyo Olympics 2020.","article_byline":"","is_old_article":1,"image_path":"","article_tags":"","section_id":25,"section_name":"SMEBiz","sub_section_name":"SMEBiz","sub_section_id":2000110,"is_archive":"1","article_custom_fields":"{\"keyword_tagging\":[\"\"],\"other_keywords\":[\"\"],\"summary\":[\"GOLDEN Fresh Sdn Bhd is pursuing opportunities to supply seafood for the Tokyo Olympics 2020. \"],\"paywall_package_type\":[\"Metered\"]}","is_premium":0,"related_articles_ids":"","column_name":"","column_image_url":""},{"cms_article_id":1748202,"old_article_id":"1CDD562C-AE40-4FE7-B644-7184A0B3F53F","article_title":"Alibaba welcomes US small businesses on its platform","article_name":"Alibaba welcomes US small businesses on its platform","article_headline":"Alibaba welcomes US small businesses on its platform","article_subtitle":"","article_body":"<p>CHINEESE e-commerce giant Alibaba Group Holdings Ltd will now allow small businesses in the US to sell on Alibaba.com in an effort to tap into the business-to-business (B2B) e-commerce market and fend off fierce competition from rivals like Amazon.com Inc.<\/p><p>Previously, US-based businesses were only able to buy items on Alibaba.com.<\/p><p>Roughly one-third of buyers on Alibaba.com are US-based. More than 95% of sellers come from China. This plan will open up markets to US merchants in countries including India, Brazil and Canada. US merchants will also be able to sell to other US-based businesses.<\/p><p>Alibaba\u2019s pitch to US small businesses comes as the company faces lean e-commerce revenue growth, which has been further threatened by the US-China trade spat and increased competition from rivals such as recently listed Pinduoduo Inc.<\/p><p>Alibaba, which does not sell inventory of its own, hopes to win over local US businesses as their marketplace platform of choice by offering small- and medium-sized businesses global selling power. Alibaba highlighted its interest in winning over manufacturers, wholesalers and distributors.<\/p><p>Last month, the company launched an English-language website for its Tmall Global marketplace aimed at merchants, in an attempt to double the number of international brands on the platform to 40,000 in the next three years.<\/p><p>Rival Amazon, in addition to selling its own inventory, allows third-party vendors to list products for sale on its website. Those vendors may store their products in Amazon\u2019s warehouses or ship directly to customers.<\/p><p>The B2B e-commerce market is valued at US$23.9 trillion (RM98.4 trillion), according to the US International Trade Commission. The business-to-consumer e-commerce market is valued at US$3.8 trillion.<\/p><p>Alibaba said US sellers will have to pay a membership fee of roughly US$2,000 to get their online stores on Alibaba.com up and running, in addition to any marketing and advertising costs. Amazon charges third-party sellers by the month or per item.<\/p><p>\u201cYou get to compete and act like a multinational company in a way you\u2019ve never had the tools or technology to be able to do so,\u201d\u200c John Caplan, head of North America B2B at Alibaba Group, told Reuters.<\/p><p>The US is the first market where the company is focusing on globalising supply, Caplan said, but Alibaba has a \u201cvery clear approach to other markets\u201d\u200c. \u2014 Reuters<\/p>","author_name":"","author_id":0,"publish_time":"2019-07-29 00:00:00","last_edited":"2019-11-28 23:04:26","permalink":"business\/smebiz\/2019\/07\/29\/alibaba-welcomes-us-small-businesses-on-its-platform","summary":"CHINEESE e-commerce giant Alibaba Group Holdings Ltd will now allow small businesses in the US to sell on Alibaba.com in an effort to tap into the business-to-business (B2B) e-commerce market and fend off fierce competition from rivals like Amazon.com Inc.","article_byline":"","is_old_article":1,"image_path":"","article_tags":"","section_id":25,"section_name":"SMEBiz","sub_section_name":"SMEBiz","sub_section_id":2000110,"is_archive":"1","article_custom_fields":"{\"keyword_tagging\":[\"\"],\"other_keywords\":[\"\"],\"summary\":[\"CHINEESE e-commerce giant Alibaba Group Holdings Ltd will now allow small businesses in the US to sell on Alibaba.com in an effort to tap into the business-to-business (B2B) e-commerce market and fend off fierce competition from rivals like Amazon.com Inc.\"],\"paywall_package_type\":[\"Metered\"]}","is_premium":0,"related_articles_ids":"","column_name":"","column_image_url":""},{"cms_article_id":1748204,"old_article_id":"C4122F00-983B-446F-A48F-6077ECAA1284","article_title":"Uber Freight launches in Germany, taking on local competition","article_name":"Uber Freight launches in Germany taking on local competition","article_headline":"Uber Freight launches in Germany, taking on local competition","article_subtitle":"","article_body":"<p>US ride-hailing company Uber is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe\u2019s US$500bil (RM2 trillion) trucking market.<\/p><p>Germany will be Uber Freight\u2019s second market to go live on the continent after the Netherlands, an executive told Reuters, with further expansion in prospect once operations are running smoothly in Europe\u2019s largest economy.<\/p><p>In the US, Uber Freight already connects 48 states and generates more than US$125mil in quarterly revenues.<\/p><p>Under maverick founder Travis Kalanick, Uber\u2019s earlier bid to establish its ride-hailing services in Germany met intractable opposition from taxi companies, politicians and the courts.<\/p><p>This time, led by Kalanick\u2019s successor Dara Khosrowshawi, Uber has consulted German officials and industry to win support for its freight business, said Daniel Buczkowski, Uber Freight\u2019s head of European expansion.<\/p><p>\u201cAfter the change in leadership, we really engaged in doing the right thing,\u201d\u200c Buczkowski, who is German, told Reuters.<\/p><p>Uber will compete with local players, including Berlin-based startup sennder, which has raised US$70mil from private equity house Lakestar and other investors at a US$300mil valuation, and which already has a wider presence in Europe.<\/p><p>Other technology players in the freight forwarding sector include Flexport, a full-service platform based in San Francisco that raised US$1bil earlier this year from investors led by Japan\u2019s Softbank Group.<\/p><p>UK-based Zencargo and FreightHub, which like sennder is headquartered in Berlin, have also taken in investments of late.<\/p><p>Buczkowski sees Uber Freight\u2019s edge in its worldwide reach and proven technology. <\/p><p>\u201cAs a global company we have the bandwidth to constantly innovate and create new products and features that support the entire marketplace,\u201d\u200c he said.<\/p><p>The freight platforms aim to digitalise an industry still dominated by firms running 10 or fewer trucks and to improve efficiency \u2014trucks are empty for 21% of the distance they travel.<\/p><p>Other gains can come from real-time tracking of consignments, and the automation of payments in an industry where trucking firms often waste weeks chasing up invoices.<\/p><p>\u201cThe key to getting a lot of value out of this industry is understanding how to use those empty kilometres,\u201d\u200c said Nicolaus Schefenacker, a co-founder of sennder, which was set up in 2016.<\/p><p>He told Reuters that, as its network expanded, it was easier to model and forecast traffic flows to ensure consignments found the right truck at the right price. Although the freight tech sector is crowded, the market is segmented and sennder sees a clear opportunity in the so-called full-truck load market.<\/p><p>\u201cThe market is so huge that I think a lot of players are able to coexist. That\u2019s also the way we think about Uber Freight,\u201d\u200c Schefenacker told Reuters.<\/p><p>Unlike Uber\u2019s ride-hailing app or its food-delivery service, Uber Freight will operate as a middle-man in a market with an established pricing structure.<\/p><p>It will make money from the margin between the price paid by the shipper and the amount it pays on to the trucker, insulating it from the type of complaints made by many ride-hailing drivers who say they struggle to earn a decent income.<\/p><p>Uber, with a stock market capitalisation of US$74bil, aims to adapt its model used in the US, where many truck drivers are sole operators, to Europe, where family-run firms predominate.<\/p><p>The industry also needs new recruits, with the World Bank estimating two-thirds of German drivers will retire over the next decade, threatening a shortage in capacity for an industry that handles more than 70% of freight. \u2014 Reuters<\/p>","author_name":"","author_id":0,"publish_time":"2019-07-29 00:00:00","last_edited":"2019-11-28 23:04:23","permalink":"business\/smebiz\/2019\/07\/29\/uber-freight-launches-in-germany-taking-on-local-competition","summary":"US ride-hailing company Uber is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe\u2019s US$500bil (RM2 trillion) trucking market.","article_byline":"","is_old_article":1,"image_path":"","article_tags":"","section_id":25,"section_name":"SMEBiz","sub_section_name":"SMEBiz","sub_section_id":2000110,"is_archive":"1","article_custom_fields":"{\"keyword_tagging\":[\"\"],\"other_keywords\":[\"\"],\"summary\":[\"US ride-hailing company Uber is launching a freight platform in Germany, taking on local technology startups in a race to grab a share of Europe\\u2019s US$500bil (RM2 trillion) trucking market.\"],\"paywall_package_type\":[\"Metered\"]}","is_premium":0,"related_articles_ids":"","column_name":"","column_image_url":""},{"cms_article_id":1748205,"old_article_id":"93E5C048-4C50-468F-B49F-A2587B04FFCB","article_title":"Richest female in VC backs volleyball media venture","article_name":"Richest female in VC backs volleyball media venture","article_headline":"Richest female in VC backs volleyball media venture","article_subtitle":"","article_body":"<p>ONE of the most successful women in venture capital (VC) is joining forces with one of the most decorated women in sports.<\/p><p>Aspect Ventures co-founder Theresia Gouw is the first outside investor in five-time Olympian Kerri Walsh Jennings\u2019s p1440, the first digital media platform dedicated to the sport and culture of beach volleyball.<\/p><p>The company\u2019s name is based on the three-time gold medallist\u2019s mantra of living all 1,440 minutes of the day with passion and purpose. Gouw saw that firsthand as a graduate student and volleyball fan at Stanford University, where Walsh Jennings starred as an undergraduate.<\/p><p>\u201cShe\u2019s a legend and has always been an inspiration,\u201d\u200c Gouw said. \u201cWhether it\u2019s p1440 or a software startup, I\u2019m investing in people. And I was also drawn to the fact that we need more women founders to show the world what can be possible.\u201d\u200c<\/p><p>Neither Walsh Jennings nor Gouw would disclose specifics of her personal investment.<\/p><p>Walsh Jennings envisions p1440 mushrooming into a global lifestyle brand and resource for all things beach volleyball. She said money is only a small part of what Gouw brings to the year-old venture, which streams live competitions via its mobile application and website, and offers coaching and health and wellness resources.<\/p><p>\u201cTheresia is in financially, and she\u2019s incredibly committed regarding her time and vision, which is priceless,\u201d\u200c Walsh Jennings said via telephone from Portugal, where she was competing in the FIVB Beach Volleyball World Tour. \u201cIt\u2019s about the resources Theresia brings, the connections.\u201d\u200c<\/p><p>That network includes, for instance, Melinda Gates, a vociferous critic of the gender gap in venture capital who last year made an investment in a fund run by Aspect Ventures.<\/p><p>According to the Sports & Fitness Industry Association, there are 4.8 million beach volleyball players in the US, and 6.3 million court volleyball players. Digital distribution to fans glued to their mobile phones and tablets will allow p1440 to reach what Gouw said are 900 million global volleyball participants.<\/p><p>Gouw knows a thing or two about the power of digital, social media and scale. Prior to founding Aspect Ventures in 2014, she was the first female partner at Accel, which was one of Facebook Inc\u2019s first venture investors. She landed last year on Forbes magazine\u2019s list of self-made women, with an estimated net worth of US$500mil (RM2.1bil).<\/p><p>Walsh Jennings said it\u2019s paramount to keep volleyball and its culture top-of-mind outside of the quadrennial Olympic cycle. <\/p><p>\u201cOur sport had been so popular, but so underserved for so many years,\u201d\u200c she said.<\/p><p>P1440 will use the investment capital to create more content, like tutorials and fitness videos, as well as to obtain live rights, Walsh Jennings said. The venture has, until now, been self-funded by Walsh Jennings and three managing partners, including her volleyball-playing husband. She declined to speculate on when it would be profitable.<\/p><p>Walsh Jennings said she plans to invite other professional athletes to join the company\u2019s advisory board, including US national team soccer player Alex Morgan-who is starting a female-focused media venture of her own-and Premier Lacrosse League co-founder Paul Rabil.<\/p><p>\u201cWhat we\u2019re building is going to require money, going to require time,\u201d\u200c Walsh Jennings said. \u201cWe\u2019re going to own this category. It\u2019s authentic, it\u2019s rich and it\u2019s powerful.\u201d\u200c \u2014 Bloomberg<\/p>","author_name":"","author_id":0,"publish_time":"2019-07-29 00:00:00","last_edited":"2019-11-28 23:04:23","permalink":"business\/smebiz\/2019\/07\/29\/richest-female-in-vc-backs-volleyball-media-venture","summary":"ONE of the most successful women in venture capital (VC) is joining forces with one of the most decorated women in sports.","article_byline":"","is_old_article":1,"image_path":"","article_tags":"","section_id":25,"section_name":"SMEBiz","sub_section_name":"SMEBiz","sub_section_id":2000110,"is_archive":"1","article_custom_fields":"{\"keyword_tagging\":[\"\"],\"other_keywords\":[\"\"],\"summary\":[\"ONE of the most successful women in venture capital (VC) is joining forces with one of the most decorated women in sports.\"],\"paywall_package_type\":[\"Metered\"]}","is_premium":0,"related_articles_ids":"","column_name":"","column_image_url":""}]}; var paywallSpan = '<span class="labels labels--free" data-toggle="tooltip" title="" data-original-title="This is a Free article"><i class="fa fa-unlock"></i></span>'; 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