FRIDAY MARCH 12, 2020 17 THEEDGE CEO MORNING BRIEF

Celebrating the unstoppable

The countdown to the EY Entrepreneur Of The Year 2020 Malaysia Awards ceremony has begun. This year’s theme is “Unstoppable” and, indeed, there is much to be learnt from these entrepreneurs who have navigated one of the toughest years in recent history, and emerged triumphant. The awards will be held virtually this year, enabling it to reach a larger audience. To be part of the ceremony, which will be held at 5pm on March 25, register at ey.com/my/eoy. We introduce the nominees in the four categories.

BY ANANDHI GOPINATH

Eric Cheng Shannics Teh Wong Whei Meng Cindy Kua

Emerging entrepreneur category ing. Recently, Khairy Jamaluddin (Minister of Sci- • Eric Cheng, Carsome Sdn Bhd ence, Technology and Innovation) fell after hitting • Shannics Teh, MuZart International Sdn Bhd a pothole during a biking session. All of a sudden, • Armi Majid, OFO Tech Sdn Bhd potholes are a big thing now, with both federal and • Wong Whei Meng, Speedrent Technology Sdn Bhd state authorities heavily investing efforts to digitalise • Cindy Kua, Sunday Ins Holdings Pte Ltd that process. Our system was developed exactly for that purpose a year ago. 1. Was there a eureka moment, when you knew you had an idea on your hands that would work? Wong: We use trends and signals to reinforce our beliefs. Consistently hearing appreciation and Cheng: Carsome started out as a car comparison web- gratitude is the true north for us, knowing that site, as we wanted to build an information hub for the we are heading in the right direction. My email is automotive industry. Within six months, we kept getting made public for direct feedback to help us achieve requests from our customers to help them dispose of mind-blowing service for our customers. Stay true their cars. That was when we realised we could do so to the mission, relentlessly innovate and non-stop much more by digitalising the used-car market, which over-deliver. The result: We let the market decide was fragmented and marred by distrust. This is one whether we deserve a spot in the industry. thing that makes entrepreneurship exciting — to be open and keep trying until you succeed. Armi Majid Kua: The idea happened when I was given the op- portunity to lead the regional insurance portfolio Teh: The devotion I have for education drove me academic abilities while having fun with art, making of my family-owned insurance companies, which to become a part-time educator at the age of 16. MuzArt a holistic education system. quickly led to Sunday being founded as a new and However, it was a struggle to find a balance between full-stack insurtech with its own sales, products, team my parents’ expectations, academic abilities and Armi: One exciting example would be the develop- and operating structure. To build an insurer for the children’s demand for fun learning. The first MuzArt ment of our EnVIS, or Enhanced Vision, system. The future, it was clear our DNA had to be driven by data syllabus emerged when I found a balance between product uses artificial intelligence (AI) to automate traditional art and creative art in order to develop pothole detection for road infrastructure monitor- CONTINUES ON PAGE 18 FRIDAY MARCH 12, 2020 18 THEEDGE CEO MORNING BRIEF

FROM PAGE 17 helped address gaps in the market. We focused on demand. For industries to transform, regulations execution and building strong traction and a service should also be able to adapt and strike a balance and technology with design principles that aim to track record that allowed us to attract funding from between stability and spurring innovation. meet customer preferences that are changing rap- credible and well-known investors to further scale idly in this new era. our business and capture the market. Tech entrepreneur category • Kamarul A Muhamed, Aerodyne Group 2. As you took on what was once unusual business 3. How do you think society can better support • C C Puan, Green Packet Bhd models, how did you convince detractors that young entrepreneurs brave enough to seek out • Datuk Chevy Beh, Health4U Sdn Bhd they would succeed? business opportunities in uncharted waters? 1. What’s the hardest lesson you’ve learnt as a Cheng: During Carsome’s earlier days, getting car Cheng: Society can start by trying out new local tech entrepreneur? sellers and used car dealers to actually use and trust businesses and giving honest feedback, as open the-then new product was not easy. For car sellers, and constructive input helps new businesses grow Kamarul: When you have a common idea, every- we chose the route of transparency and convenience fast. I also believe in a strong support system or one will believe in you. But if it’s unconventional, no in our processes and pricing. We also used a lot of mentorship programmes — it would be great for one will; so, you must have a very strong conviction. time to build our inspection standards so that our established entrepreneurs to invest time in men- I experienced this a lot at the beginning. Build a reports were of high quality and reliable enough for toring budding entrepreneurs, or even just be a team of people who believe in you and grow it over used-car dealers to base their business decisions on. sounding board, as both parties can learn from time. That, together with the tenacity and willpow- each other’s experiences. er to keep solving problems, because every time Teh: Our ability to produce well-rounded students you do, you bring the company to the next level. with a holistic education is a game changer in Teh: Change begins with us. MuzArt plays an im- the art education industry. Focusing on character portant role in creating the platform to nurture Puan: There are many different reasons people building and personality development, MuzArt has confidence, charisma and moral values in children. become tech entrepreneurs. Many want to change created a new market by revamping traditional art the world, some are fascinated by a particular education into a distinctive education system using Armi: Society should include all stakeholders, problem, some seek independence, and others art as a teaching tool. whether it’s the government in terms of offering have a monetary motivation. All valid reasons, but funding support to young start-ups, or the public it’s essential to understand what your convictions Armi: Dropbox and Google Drive are both Software- as consumers to prefer local products over foreign are. Understanding your reasons will be crucial in as-a-Service (SAAS) platforms and charged their brands. We were unfortunate to have lost GrabCar, tough times. I was once faced with the decision of customers via subscription and the “pay as much as which moved to Singapore. Malaysian funders did whether to keep my company alive when times you use” business model. We saw that this model not see its disruptive potential. We need to prevent were tough and when my initial concept failed. was the most appropriate for our type of service this from happening again. In the tech scene, we have to accept that change and/or business . Over time, even our cli- is constant, and your motivations will determine ents preferred this method, considering it is more Wong: Three lessons. One, it starts from home — what kind of legacy you leave. flexible for their operational cost structures as well. doubt but encourage, observe not judge, support not laugh. Two, failure is the mother of success — Beh: Never give up. You are doing something new Wong: A lot of cold water was thrown on us when strangely, nobody likes to fail or fails to learn from and going against all the odds. So, as long as you we started this journey. Everyone is entitled to his mistakes. Three, paying it forward, giving back — believe in your product, keep going and someone opinion and all we can do is show a new path to more successful entrepreneurs to fund, back and will believe in you. property rental. We focused on delivering our prom- mentor next-generation entrepreneurs. ise. And we do fail, we fail very often; but we learn 2. How do you keep ahead of rapidly changing quickly and remedy our shortfalls. Kua: Society and governments can build a strong- technologies in your chosen field? er foundation for our education system to ensure Kua: We were strategic about who we targeted as that the skill sets of our generation and the gen- Kamarul: You need world-class talent and world- our first customers and ensured that our products eration of tomorrow are relevant and meet future class technology. All our focus and R&D spend has been on this as well as mergers and acquisitions, which also introduce new technologies to the group.

Puan: I am convinced that the digital economy will rise. Therefore, after equipping ourselves at Green Packet with the best people and knowledge of future trends, we are fully invest- ing in the most advanced technology areas, the ABCDEFG of technology. AI, blockchain, cloud computing, big data, Internet of Everything and 5G will be our upcoming focus areas.

Beh: I meet with a lot of people, I read a lot, I engage with a lot of fellow entrepreneurs. In terms

Kamarul A Muhamed C C Puan Datuk Chevy Beh CONTINUES ON PAGE 19 FRIDAY MARCH 12, 2020 19 THEEDGE CEO MORNING BRIEF

FROM PAGE 18 of tech, we have teams that scan global markets every day and keep an eye out for trends and ideas that we should be aware of. The key is to be proactive, not reactive.

3. Is there a tech entrepreneur whom you especially respect, or whose lessons you learn from?

Kamarul: Steve Jobs, for his clarity and his groundbreaking approach to so many things. He wasn’t the most likeable of people, but you are going against the and, to change the world, you need people who un- derstand you — that’s sometimes hard to find. Natalie Sit Fiona Rebecca Limus Dr Soraya Rahim Ismail

Puan: Tencent’s founder, Ma Huateng. He created Soraya: Entrepreneurship has the allure of being mechanism to allow a later return for effective one of the most influential tech companies in the ‘in control of your own destiny’. While the recent progress in the workplace. world, while coming from humble beginnings. I see pandemic has proven that this may not always be a lot of myself in him in that sense. We both went the case, being in control of how you spend the 24- 3. In a post-pandemic world, how do you think through the struggles of the dotcom bust in 2000, hour day is key for many driven, capable women women’s role in entrepreneurship and leader- but seeing how he was able to turn his company’s who do not want to be constrained by the timeta- ship will change? fate around so quickly was remarkable. bles of the corporate world. Sit: The lockdown has introduced many new ways Beh: There is no one individual, as I have so many 2. What do you think is the biggest factor holding of running a business from home because of the people to learn from. There are two people who top women back in enterprise? many digital platforms that are available, and so my list, though. On the tech side is Amazon.com many people are familiar with that now as well. founder Jeff Bezos — he knew nothing about the Sit: I will use myself an example — I am a moth- We used to have to go out and physically meet industry, went against Barnes & Noble and won. er of two and I have elderly parents to care for as people, but these days it’s acceptable to do a lot And then there’s Elon Musk — his work ethic is well. Women tend to shoulder the responsibilities virtually, and I think women who want to start amazing and really inspirational. at home more than men, and we take a lot of small businesses have a huge opportunity in this on our shoulders. That takes up a lot of regard going forward. Woman Entrepreneur Category our focus and time, and holds back many women. • Natalie Sit, Acestar Sdn Bhd Most women end up prioritising their family or risk Limus: Women make up almost 70% of the health • Fiona Rebecca Limus, CompuMed Services Sdn Bhd societal judgement. We all need to overcome that front-liner workforce and play a critical role in the • Dr Soraya Rahim Ismail, Vitality Boost Sdn Bhd mindset, allow women to prioritise their work and Covid-19 response. They also shoulder much of support them in any way we can. the additional burden engendered by school and 1. An increasing number of women all over the childcare facility closures and face greater risks of world are opting for entrepreneurship instead Limus: While difficulty in balancing the compet- economic insecurities and domestic violence. With of climbing the corporate ladder. Why do you ing demands of work and family is generally be- worldwide recognition of women leadership’s critical think that is the case? lieved to be the key factor holding women back contributions to effective Covid-19 response, women in enterprise, studies have revealed that the real have proven that they are fully capable and will are Sit: I think social media and 21st century technol- culprit is the prevailing overwork culture. Both likely to have more influence over decision-making ogies have made it easier for women to want to genders struggle with work-family conflicts, processes in the post-pandemic world. become entrepreneurs. Entry costs are also much owing to unnecessarily long hours, but women less than they once were. So, financially, it’s less are more willing to take career-derailing accom- Soraya: Media have applauded the perceived risky in this day and age for women to consider a modations, compelled by cultural notions that gender-related influence on policies and strate- career in entrepreneurship. family should be their primary commitment. I gies for managing the pandemic. While the data find this particularly encouraging, as we could is not statistically significant, the narrative has Limus: Despite great strides in the advancement advance gender equality by addressing ineffi- certainly highlighted the importance of more pre- of gender parity, traditional norms on gender cient work practices. dominantly female characteristics such as humility, roles prevail. Women as the primary caregivers empathy, collaboration and inclusiveness in lead- for children or ageing parents have to juggle Soraya: A flexible and empathetic workplace is ership roles. I hope that this enhanced realisation paid and unpaid work burdens. Entrepreneurship required to nurture a culture in which women of the benefits of a diverse workforce will lead to offers women much-needed flexibility, enabling have an equal opportunity to progress to a senior an increased representation of women in senior us to accommodate work to family needs. Start- level over the longer term, which is seen only in a positions. On the flip side, however, the ing their own business also frees women from relatively small number of large corporations. As of the pandemic have also driven many women longstanding gender gaps in wage and promo- the burden of childcare and household responsi- to consider downshifting their careers or leaving tion opportunities, while empowering them to bilities is still heavily borne by women, many have the workforce altogether. have a more fulfilling career and take control of no option but to temporarily halt the progress of their own future. their careers — then have little or no effective CONTINUES ON PAGE 20 FRIDAY MARCH 12, 2020 20 THEEDGE CEO MORNING BRIEF

Datuk Lim Soon Huat Dr Lim Li Sze K H Lim David Mizan Hashim

FROM PAGE 19 the perfect ecosystem for the kind of disruption that had already embraced, a digital transformation. a young, dynamic and progressive firm like Veritas Never wanting to ‘let a good crisis pass us by’, we’ve Master Entrepreneur Category wrought upon the local profession. taken advantage of the pandemic to shake our • Datuk Lim Soon Huat, Asia File Corporation Bhd people out of their comfort zones and them • Dr Lim Li Sze, Medical Innovation Ventures Sdn Bhd 2. How has the pandemic forced you to inno- to embrace new technological/organisational par- • K H Lim, Senheng Electric (KL) Sdn Bhd vate, and do you foresee those changes to be adigms. Those who couldn’t make the leap were • David Mizan Hashim, Veritas Design Group permanent? let go, and those we knew could champion it were promoted. Not only do we think these changes are 1. How has the field you are in changed most since Lim Soon Huat: The pandemic has quickened the permanent, but we think they will only become you started out in it? impact of digitalisation. With our e-commerce more pronounced. developing rapidly, we have successfully turned Lim Soon Huat: Since we listed on Bursa Malaysia crisis into opportunity. The pandemic has brought 3. What does the future look like for you and your in 1996, we have digitalised, a process that has soaring demand for disposable food ware. To cater business in a post-pandemic world? quickened over the past few years. We started using for this, we have extended our production capabil- digitalisation to explore new business opportunities ities to a full range of recyclable paper and plastic Lim Soon Huat: We are excited with the new cate- and, today, the digital platform is our second-larg- food ware. In December 2020, we ventured into gories of products we will be going into. The range est revenue earner in the UK. We intend to mirror home, office and living ware. These, coupled with is enormous and offers us an exciting avenue to the success of this approach in other markets, in- the existing files, stationery and food ware busi- flex our muscle in diversifying and expanding our cluding Malaysia. nesses, will enhance our presence as a one-stop business. home and office provider. Lim Li Sze: We have to consistently innovate in this Lim Li Sze: The future looks very promising, as we field to meet market demands. This is especially true Lim Li Sze: There was an urgent need to help have been put to the test during the pandemic in the past year with the Covid-19 outbreak, when combat the disease and, met with the challenge, and grown stronger. We are expanding our pro- we have seen many innovations. Our company has our team worked day and night to concentrate on duction capacity and capability and moving to a also come up with many new diagnostic tests in diagnosing it. We now know that, when put to a bigger facility. PCR and rapid technology to help combat the virus. challenge, we can come up with a test that can meet international demands. This has strength- K H Lim: The post-pandemic times will be tough K H Lim: Thirty years ago, customer purchase de- ened our capability and capacity and we foresee for everyone, especially small and medium en- cisions were price-driven. Technology-driven retail being able to do things even faster and better in terprises. Internally, Senheng will be launching solutions, loyalty programmes, branding and cor- the future as we keep improving. five new in hopes of overcoming the weak porate identity were unheard of back then. Today, market demand — a KOL livestreaming platform, customers are well exposed and tend to lean to- K H Lim: The pandemic has forced us to ‘think out CDP platform, rewards marketplace, data lake plat- wards value-added service instead of pricing, with of the box’. Meetings and training are now conduct- form and a Senheng lifestyle app. Through these stronger buying power. Retailers have expanded in ed digitally, office operations have been reduced plans, we believe we can still achieve double-digit size and begun transitioning digitally, integrating to 50%. A new ‘weapon’ was developed within 30 growth for 2021. customer-based loyalty programmes and adoption days — a telemarketing app, which leverages the of branding elements to improve brand equity. low-touch economy, a communication platform David: Veritas has always gained market share that allows good engagement with our members. after every financial crisis, and we think history David: The field of professional services today bears We introduced the ‘sell the future’ concept — con- will repeat itself now. The biggest challenge little resemblance to what it was when we started sumers enjoy a great discount with a 50%-off brand ahead is to develop a strategy to increase our in- business. In the late Eighties, expertise was rudimen- voucher, to be redeemed when the MCO is lifted. ternational exports in a global environment that tary, digitisation didn’t yet exist and globalisation There’s no turning back. We are plunging headlong is less open and liberal than before. Hopefully, was just a figment of the imagination. There was into the era of digital-first. the protectionist sentiment in global re- little foreign competition, so things seemed safe lationships will fade away and we can re-energise and secure, especially for the big players. This was David: The pandemic accelerated a trend that we our export efforts.