Open For Business

In today’s episode, we speak with Lawrence Liou, Managing Director of Aenon Solutions, a Penang-based company offering solutions in automation, barcoding and RFID technology. Founded in 2020, the company has gained significant attention from both local and international MNCs, with its flagship products receiving strong demand. See omnystudio.com/listener for privacy information.

Swipey, co-founded by Kalyana Mohan and Rouvin Thiruchelvam in 2021, started with a clear mission: to simplify financial management for businesses. What began with virtual corporate cards has grown into a financial operating system designed for businesses. Today, Swipey serves over 2,000 businesses, processes over RM120 million annually, and is on track to hit $1 million ARR in 2024, with ambitious plans to grow to $5 million ARR in 2025.In this episode of Open for Business, Kalyana and Rouvin share insights into their data-driven approach to product development, the importance of trust in fintech, and their journey from corporate careers to entrepreneurship.With plans to expand their CFO tech platform, capture more market share, and potentially partner with digital banks, Swipey aims to redefine financial operations for modern businesses.Here are some key highlights from the conversation:- Origins: How the founders transitioned from corporate careers to addressing SME pain points in financial management.- Early Challenges: Developing their MVP during COVID, prioritising milestones, and funding their early-stage growth.- Product Evolution: Starting with virtual corporate cards and expanding to a full CFO tech platform, including accounts payable solutions and financial automation.- Growth Milestones: Serving over 2,000 businesses, achieving $1M ARR, and targeting $5M ARR by 2025.- Market Strategy: Leveraging trust, word of mouth, and low customer acquisition costs to grow their user base.- Future Plans: Scaling their CFO tech ecosystem, expanding revenue streams, and exploring partnerships with digital banks and global financial institutions.See omnystudio.com/listener for privacy information.

From pastry kitchens and whisks to classrooms and business plans, Chef Niklesh Sharma, Founder and Managing Director of the Academy of Pastry & Culinary Arts (APCA), has been an entrepreneur in the culinary education space since 2010. Starting with a campus in Malaysia, APCA has expanded to three campuses in India, as well as locations in the Philippines and Indonesia.Focusing on hands-on training, APCA aims to meet the growing demand for skilled culinary professionals.In this episode of Open for Business, Chef Niklesh discusses his journey from chef to educator, the challenges of scaling APCA across borders, and the importance of tailoring programs to industry needs. He also shares insights on managing growth and what’s next for APCA.See omnystudio.com/listener for privacy information.

We speak to Johnson Goh, Co-Founder and CEO of MindHive, a Malaysian startup transforming how businesses drive employee engagement and productivity. With innovative tools that decode workplace behaviour, MindHive helps leaders build more motivated and high-performing teams. A finalist in the Alliance Bank 2024 BizSmart Challenge, MindHive is on a mission to empower organisations with smarter solutions to enhance workforce efficiency.See omnystudio.com/listener for privacy information.

How is CADS helping organisations unlock the power of data and AI?Since its founding in 2015, the Center of Applied Data Science (CADS) has been on a mission to close the gap between data literacy and the evolving needs of modern businesses. Through its AI-driven platform, CADS.ai, the company enables organizations to align workforce skills with future demands, optimizing talent management and driving impactful business outcomes.In this episode of Open For Business, Sharala Axryd, Founder and CEO of CADS, shares her journey from telecommunications engineer to tech entrepreneur, the pivotal moments that shaped CADS, and the insights gained from building a $5M USD ARR business.Here are some key highlights from the conversation:- Origins: CADS was born out of Sharala’s mission to bridge Malaysia’s data literacy gap, inspired by her personal experiences with brain drain and the need to upskill local talent.- Pivot to SaaS: Initially focused on corporate training, CADS transitioned to a scalable SaaS model in 2020, centering on its proprietary CADS.ai platform.- Business Model: CADS generates revenue through enterprise SaaS subscriptions, offering workforce assessments, customized learning paths, and integrated skill management tools.- Key Achievements: CADS reports $5M USD ARR, 30–40% annual growth, and profitability since inception, positioning itself as a leader in AI-driven talent management.- Market Expansion: With Malaysia contributing 80–90% of revenue, CADS is targeting regional growth in markets like Singapore, Indonesia, and Australia.- Funding and Future Plans: After bootstrapping for nearly a decade, CADS is now seeking external funding to accelerate global expansion and scale its platform.See omnystudio.com/listener for privacy information.

Donuts are more than just a sweet treat. They are a universal comfort food that brings joy to people of all ages. But in a world where consumers are increasingly seeking unique flavours, premium quality, and memorable experiences, the humble donut is evolving into a canvas for creativity.Donut Plan, an artisanal doughnut shop, seems to have captured the hearts,and taste buds, of its audience. Today, we speak with Lau Jia Sen, the Founder of Donut Plan, to uncover the story behind the business, the challenges of running a business in a competitive food industry, and his sweet plans for the future.See omnystudio.com/listener for privacy information.

From producing just 10 jars a day to 650 SKUs daily, what began as a home kitchen experiment to create natural, toxin-free bone broth for their picky-eating son has evolved into a thriving seven-figure business. In this episode of Open for Business, we delve into The Daily Broth’s journey from side hustle to full-fledged enterprise.We speak with Rahayu Parmatasari and Tengku Arif Asad, co-founders of The Daily Broth, about how they transitioned out of corporate careers, scaled operations while preserving quality, and navigated the challenges of funding and logistics.Here are some key highlights from the conversation:- Origins: Inspired by a personal need for nutritious food for their son, the founders started with a single pot and a dream.- Scaling Up: Expanded from a home kitchen to a production facility with 20 staff, in-house delivery riders, and a food scientist ensuring quality control.- Certifications and Growth: Securing Halal and HACCP certifications to unlock B2B opportunities and export markets like Australia and the Middle East.- Funding the Growth: Bootstrapped the business without external funding, reinvesting profits to scale operations and enhance capabilities.- Brand Promise: How they maintain their commitment to nutrition, safety, and toxin-free preparation in every jar of broth.- Future Vision: Aiming to become a household staple and a trusted health food option in hospitals worldwide.See omnystudio.com/listener for privacy information.

From simplifying rental processes to introducing zero-deposit models and insurance protections, Wong Whei Meng, Founder and CEO of Speedhome, has focused on solving the pain points of landlords and tenants alike. With innovations like tenant screenings and integrated insurance protections, Speedhome is positioning itself as a comprehensive property management platform.Breaking its loss-making streak, Speedhome is on track to achieve profitability this year. The company reported a 75% on-year increase in gross profit to just under RM5 million as of September 2024, with a net profit of RM1 million and EBITDA of RM2 million. Now, as it gears up for regional expansion and an IPO by 2027/2028, Speedhome is launching its fourth equity crowdfunding (ECF) round, targeting RM10 million at a valuation of RM114 million.In this episode of Open for Business, we explore Speedhome’s journey, its innovative business model, and its bold plans for scaling regionally—all while staying laser-focused on profitability and customer retention.Here are some key highlights from the conversation:- Origins: Speedhome was born out of Wong’s personal frustrations as a landlord, inspiring him to build a platform that empowers landlords with control and simplifies processes for tenants.- Insurance Innovation: SPEEDHOME introduced rental guarantees, eviction support, and other insurance protections, significantly enhancing landlord confidence.- Business Model: Speedhome generates revenue through insurance commissions, tenancy fees, and a subscription model incentivising good tenant behavior.- Key Milestones: Set to achieve full year profitability in 2024, Speedhome generated RM10 million in revenue as of September, with projections to close the year at RM14 million.- Social Impact: By mandating tenant credit checks and offering zero-deposit options, Speedhome has tackled biases in the rental market and improved landlord-tenant relationships.- Market Opportunity: With just 1% market penetration in the RM7.9 billion Klang Valley rental market, Speedhome plans to expand into Johor, Penang, and Melaka.- New Market Opportunity: Speedhome aims to integrate software solutions for non-transacted properties, making property management seamless across the ecosystem.- IPO Preparation: The company’s fourth equity crowdfunding round targets RM10 million to fund regional expansion, enhance its platform, and tap into untapped markets, all aimed at IPO readiness by 2027–2028.See omnystudio.com/listener for privacy information.

In this episode, we sit down with Dr. Jay Jayabalathilagam, the Founder and CEO of Volt Motorsports, a pioneering company at the forefront of changing the hybrid vehicle market. Dr. Jay shares his journey from the inception of Volt Motorsports to the development of their groundbreaking Extended Hybrid Battery eWarranty system, "HiiVolt." As Malaysia's first provider of a fully digital hybrid battery warranty, Volt Motorsports is transforming the way hybrid vehicle owners and dealerships approach battery protection, offering unmatched reliability, sustainability, and peace of mind.Along the course of the conversation, we dive deep into the challenges faced by hybrid vehicle owners, how Volt's innovative technology is tackling these hurdles, and the company's commitment to reducing automotive waste and carbon footprints. We’ll also look at how Volt Motorsports is not only providing cost-effective, eco-friendly solutions but is also leading the charge towards a greener, more sustainable future in Malaysia’s automotive industry.See omnystudio.com/listener for privacy information.

Vanzo Asia started in 2018 with a focus on car air fresheners and has since grown into a homegrown brand that made RM5.1 million in profit on RM40.86 million revenue in FY2023. Co-Founder and MD Allan Wong discusses Vanzo origins, its product range expansion, and how their upcoming ACE Market IPO will help strengthen its retail presence and branding efforts, marking a new chapter in its growth story.Allan has been nominated for the EY Entrepreneur of the Year 2024 Malaysia awards in the Emerging Entrepreneur category—a distinction previously awarded to brands like ZUS Coffee, Empire Sushi, and financing platform Capbay.See omnystudio.com/listener for privacy information.