Open For Business

Among some of the key findings from Malaysia’s National Health and Morbidity Survey 2023 includes the fact that 15% of adults in Malaysia have diabetes, 29% have hypertension, 33% have high cholesterol, and that 54% are overweight. These health issues are not unique to Malaysia and in response to similar trends in Singapore, Novi Health has entered the chat in an attempt to address these rising concerns.Founded in 2019 by Dr. Sue-Anne Toh, Dr. Joanne Tay, and Dr. Kyle Tan, Novi Health specialises in diabetes care and weight management, integrating clinical treatments with behavioural and lifestyle interventions, but expects to expand into health optimization and improving health longevity in the near future. In 2022, Novi Health raised $5 million in a Series A round led by Monk’s Hill Ventures to power this ambition.Today, on Open for Business, we dive into how Dr. Sue Anne Toh and her co-founders built Novi Health, the business promise and potential, and what the path ahead looks like for this HealthTech company.See omnystudio.com/listener for privacy information.

Founded in 2018, POMEN has moved from being a B2C platform to a B2B one, now helping connect companies like PETRONAS and Maxis with workshops to help manage their fleets. On top of that, it is also trying to help workshops streamline operations, manage customer relationships, and more.On the back of launching a new product called ENGARAGE - the company aims to double the number of workshops on the platform and enroll 3,000 workshops across Malaysia by March 2025. Today we drive into the world of automotive workshop management to learn more about the company, and how and why it’s trying to transform the automotive service industry, what they are looking for in future external investors, and much more.See omnystudio.com/listener for privacy information.

Malaysia's cuisine is a captivating blend of flavours reflecting the country's rich cultural diversity. With influences from Malay, Chinese, Indian, and indigenous traditions, Malaysian food offers a unique and tantalising blend of spices, herbs, and ingredients.Within this culinary landscape, the pickle industry holds a special place. Pickles, a beloved staple in Malaysian households, are celebrated for their ability to enhance dishes with bold, complex flavours, making them a cherished part of Malaysia's gastronomic heritage.Homegrown Pick A Pickle has carved a niche with its artisanal approach to homemade pickles and pastes. This business merges traditional recipes with contemporary twists, offering a delightful array of tangy pickles and savoury pastes that capture the essence of local flavours.Founded with a passion for preserving culinary heritage, Pick A Pickle products are a culmination of creativity, and the rich gastronomic tapestry of Malaysia. Whether one is a connoisseur of spicy tang or a seeker of unique taste experiences, Pick A Pickle takes you on a journey through the authentic taste of home-cooked goodness, one jar at a time.Today, we speak with Co-Founders Allan and Audrie Yeo to learn more about this father-daughter family business and their journey in bringing traditional Malaysian flavours to a wider audience, as well as their vision for the future of Pick A Pickle.See omnystudio.com/listener for privacy information.

Founded in April 2023, Notti Pet Food is a local pet food brand that wants to elevate pet kibble and recently secured RM2.4 million in seed funding from venture capital firms 500 Global and First Move to accelerate its mission.The company crossed RM1 million in revenue in 6 months and is on track to hit RM2 million in revenue for its first year in business. With aims to hit 8-figures in revenue in the next 2 years, Notti will be focused on accelerating growth through new products and further market expansion into the Philippines and Singapore.At present, the company produces slow-baked kibble, using human-grade meat alongside fruits, vegetables, probiotics, and prebiotics., and is in over 100 pet shops, mostly in Malaysia, but with a minor presence in Singapore, Hong Kong, and the Philippines.Today, we'll dive into the origins of Notti Pet Food, from its inception just over a year ago to Ke Yee's ambitions for the future now that she’s secured RM2.4 million in seed funding, which all kind of started from a LinkedIn comment.See omnystudio.com/listener for privacy information.

Aonic was born as a commercial drone solutions provider for enterprises looking to modernise their operation workflow. While they are no stranger to the commercial drone industry, they are looking to expand beyond the skies and to build an ecosystem beyond just their core drone capabilities. Cheong Jin Xi, founder and CEO of Aonic, gives us a peek into this unique industry.See omnystudio.com/listener for privacy information.

By 2030, Malaysia is expected to transition into an ageing society, with individuals above age 60 and older to make up 15% of the population, and this is a business opportunity that multiple businesses are looking to address, and Sukha is a new contender in the ring.Starting back in December 2022, Sukha Golden Sanctuary initially focused on specialised support to elderly individuals with dementia and other cognitive impairments. Today the company says it has a Retirement Clubhouse concept and positions itself as focusing on holistic well-being and having a community-based care model, which we will flesh out further in the show.To expand their services and set up the Sukha Senior Resort in PJ New Town, Sukha is trying to raise between RM3.6 million and RM6 million by offering up to 16.7% of the company via equity crowdfunding on PitchIn. This fundraise values the company at RM30 million. So, on top of exploring this fundraising exercise, we will dive into the story behind Sukha Golden's inception and their positioning in the senior living industry, as well as the company’s growth trajectory and projected pathway to a RM1 billion IPO in 6-10 years time.See omnystudio.com/listener for privacy information.

Leaving Wall Street to revolutionize Islamic finance, solo founder Junaid Wahedna raised $82 million in his mission to eliminate interest from Muslim lives worldwide. With that funding, he built a robo-advisor model that’s profitable in the three main countries Wahed operates in: the US, the UK, and Malaysia. These markets contribute almost equally to Wahed’s approximate $1 billion in AUM. That said, Wahed is still not profitable on the group level.However, now that the base model works, Junaid has handed the role of CEO to COO Mohsin Siddiqui, who has been tasked with replicating the business model and scaling the company into markets across the world, aiming to take Wahed from $10 million to $100 million in revenue. Junaid has transitioned to the role of Chairman to focus on overall strategy, building new products, and advancing the larger mission.Join us on this episode of "Open for Business" as we dive into an inspiring conversation with Junaid Wahedna. He shares his entrepreneurial journey, from leaving a lucrative career on Wall Street to creating a platform that caters to the needs of the Muslim community by offering Sharia-compliant investment solutions. Junaid recounts how a taxi ride in New York sparked the idea for Wahed back in 2015, leading to raising $75-$82 million over the last nine years and establishing offices in 11 countries, including Malaysia.Don't miss out on this captivating discussion with Junaid Wahedna, only on Open for Business.Key Takeaways:Inspiration from a Taxi Ride: The idea for Wahed was sparked during a taxi ride in New York when a Bangladeshi driver shared his struggle with Sharia-compliant investments. He didn't want to keep his money in a bank because he was a practicing Muslim and wanted to avoid interest, so he had put all his savings into Apple stock on the advice of his imam.Mission-Driven Business: Wahed's core mission is to provide Sharia-compliant investment solutions, aiming to eliminate interest from all aspects of its customers' financial lives, reflecting the company's commitment to its values and the community it serves.Organic Growth Powered by Referrals: Wahed has achieved significant growth through organic means, leveraging community trust and referrals rather than relying heavily on traditional marketing methods.Solo Founder Success: Despite conventional VC wisdom favoring co-founders, Junaid Wahedna believes that many of the most successful entrepreneurs possess an autocratic personality and emphasizes the importance of control.Raising Capital While Maintaining Control: Junaid successfully raised between $75-$82 million without giving up control, issuing only common stock and not giving any board seats to investors.Global Expansion: Wahed has expanded to multiple differing markets (the US, UK, Malaysia, and UAE), demonstrating the scalability and international appeal of Sharia-compliant investment products.Diverse Product Offerings: Wahed's product portfolio includes a robo-advisor platform, ETFs, equity crowdfunding, and a gold-backed debit card, illustrating the company's innovative approach to addressing various financial needs within the Muslim community.Balancing Faith and Business: Junaid emphasizes the importance of balancing faith-based values with business decisions, ensuring that Wahed stays true to its mission while achieving profitability.Efficient and Lean Operations: Wahed's ability to break even quickly in new markets, highlights the company's focus on operational efficiency and cost management. Their new UAE operations currently on track to break even within one year.Acquisition Strategy: Wahed strategically acquires companies to accelerate growth and enhance its product offerings, such as the acquisition of a digital banking app in the UK for its infrastructure and team.Future Plans and IPO Considerations: While an IPO is seen as a potential path for liquidity and community ownership, Wahed remains focused on its long-term growth strategy and maintaining control to continue its mission-driven workSee omnystudio.com/listener for privacy information.

Established in 2012, Complete Human Network helps companies deal with their electronic equipment needs, allowing enterprises to optimise their IT budget and minimise IT-related hassles by leveraging Device-as-a-Service (DaaS) and Enterprise Mobility as-a-Service (EMaaS) solutions, packaging IT devices and software services on a subscription basis.In today’s conversation, Chai Peng will give us a sense of the journey she’s been on with CHN and the business of enterprise mobility, the underlying business performance and growth, as well as her ambitions ahead.See omnystudio.com/listener for privacy information.

Evlos is an artificial intelligence (AI) company that provides AI-powered computer vision solutions to manufacturers all over Malaysia.Announced last month, the company secured its first institutional funding round from Kumpulan Modal Perdana (KMP), a tech-focused venture capital owned by the Minister of Finance (Incorporated), which will be used to expand the team and power growth ahead.Shankar and Rahul, the Co-Founders of Evlos, will walk us through the shift from Cedar Technologies to Evlos and the value proposition today, how they’ve built this business over the last 5 years, and their ambitions ahead.See omnystudio.com/listener for privacy information.

Today we speak with Dr. Matt Kan, the Founder of Chiropractic First Group. With over two decades of experience, Dr. Kan has been advocating for chiropractic care in Malaysia, where back pain and bone and joint complications affect several million people here.Inspired by a personal encounter with the healing power of chiropractic, Dr. Kan has dedicated his life to debunking myths and raising awareness about the vital role of our spines in overall health. He will shed light on the science behind chiropractic adjustments, and how this approach can restore mobility, relieve pain, and support the body's natural ability to heal itself.See omnystudio.com/listener for privacy information.