Open For Business

Founded in 2017, WORQ is currently present in 7 locations across the Klang Valley and an additional unique location at Perhentian Island, with more in the works, given the potential they see in the industry.WORQ is currently on track to triple its space under management to 450,000 sq ft by 2025 and has ambitious plans to expand its space under management to a sizable 3 million sq ft by 2030.The company started with RM1.5 million in revenue in 2017, made RM17 million last year, and is aiming for RM25 million in 2024, and on the back of 80% revenue growth and mid-teen net profit margins last year, WORQ announced in October that it raised an undisclosed pre-series B backed by 14 follow-on investors including global asset management firm PhillipCapital and the Leong family of Mah Sing Group Bhd.Looking ahead, to support its ambition, WORQ is targeting to raise RM40 million in its Series B funding round.We speak with CEO Stephanie Ping and CFO Andrew Yeow, to get a better understanding of how they’ve profitability navigated the last 7 years in the coworking landscape despite the downfall of WeWork, how WORQ has partnered with property players and developers to grow, and what the path ahead looks like for the Space-As-A-Service model as the aim to become the Amazon Web Services of office space.See omnystudio.com/listener for privacy information.

On this episode of Open For Business, Lennise Ng, Founder and CEO, and Aizat Rahim, Co-founder and Managing Director, get into, among other things, why and how they built Dropee and started with Dropshipping, how Red Bull gave them their big break early on in their Dropee journey, and the reasons behind the rebrand to Borong and what it signals ahead. We also get into their USD$57 million in revenue last year and expansion plans ahead, how their on-going Series B fundraising round is going as they aim for at least $10 million in funding, and why an IPO is the desired exit, instead of a trade sale.Founded in 2017, the company formerly known as Dropee is a B2B eCommerce solution provider that looks to help businesses optimise their supply chain using various digital tools and initiatives, helping businesses better manage their inventory and stock tracking, tap into of digitalisation by enabling a smooth Offline to Online transformation, and harnessing the power of data-driven decision making to personalise orders, thus increasing customer satisfaction and driving sales.See omnystudio.com/listener for privacy information.

As we’re all busy with our daily routines at work, it is common that we face similar issues like having insufficient time to practise a sustainable work-life balance, skipping meals at work or we simply can’t find the time to put in a couple of hours for exercising. From being in the legal field to active business owners, Collin Chang and Joslyn Yip came up with TasteBudds, a company that provides wellness products, particularly through liquid meals to people of various income levels, with a clear vision to help those with a hectic schedule. Now, they are looking to expand to overseas markets as this issue of practising a healthy work-life balance is not only common here in Malaysia, but also in many if not all major metropolitan cities as well. With that, today on the show, we’re joined by both Collin Chang and Joslyn Yip, Co-Founders of TasteBudds, to understand their journey from being lawyers to business owners, key challenges they faced during this transition and what the future looks like for TasteBudds in 2024 and beyond.See omnystudio.com/listener for privacy information.

Hann Liew and Lucas Ooi are co-founders of fintech firm Jirnexu, the company behind RinggitPlus, and after 11 years building the company, they left their executive leadership roles in July last year. A few weeks later, along with a third co-founder Ng Moon Ho, the former director of operations at RinggitPlus, they announced their next chapter in entrepreneurship - Halogen Capital - a digital asset fund manager.Halogen has a full Capital Markets Services (CMS) licence from the Securities Commission Malaysia (SC) to manage digital assets such as cryptocurrencies, NFTs, and tokenized assets, and using the unit trust fund structure, they launched their Shariah Bitcoin Fund last year and very recently soft-launched their Shariah Ethereum Fund.We speak to Hann and Lucas about the transition from Jirnexu to Halogen, how building a startup the second time differs from the first time, why they have ventured into Digital Assets and crypto space, and the potential ahead for this venture.See omnystudio.com/listener for privacy information.

On this episode of Open For Business, we speak to Wealth Vantage Advisory’s Rafiq Hidayat and Idham Idris about the business of financial planning, what it needs to do to keep up with the times, and why they believe that AI won’t replace Financial Planners. We also explore the reasons behind starting this relatively new firm and why they broke away from the commission-driven agency mentality to focus on comprehensive financial planning, what’s behind their ambition to grow by 20X by 2026, and recruitment strategies given that ​ the number of Financial Planners is key to driving a firm’s revenue growth.See omnystudio.com/listener for privacy information.

Kakitangan.com is a one-stop HR platform that wants to empower businesses to work smarter with a fully automated HR system that covers payroll, leave, claims, attendance, and more, so that you can focus on business growth.On this episode of Open for Business, you will learn what took 2 former Microsoft Office engineers down the road of building a HR platform, the success and and failures along the way, and what it means to become the People Operating System for SMEs in Malaysia.See omnystudio.com/listener for privacy information.

Precision mechanical components are not something we talk about or come to mind everyday. This industry, however, is a critical segment of modern engineering and manufacturing, and plays a vital role in a wide array of sectors.Enters Nibou Industries, a home-grown manufacturer that specialises in the development and production of advanced linear motion systems. However, second-generation CEO Jowin Goh takes the company on a whole new adventure, transitioning from being a key player in the automation industry to the fast-moving consumer goods (FMCG) industry, producing nostalgic snacks such as jellies and puddings.Today, we speak with Jowin Goh, CEO of Nibou Industries about the challenges of switching industries entirely and the experience of being a second-generation business owner.See omnystudio.com/listener for privacy information.

On this edition of Open For Business, we speak to Azran Osman-Rani, CEO and Co-founder of digital health startup Naluri, about his transition from the corporate world and C-Suite into the startup ecosystem and then to starting up his own venture. Among other things, you will learn the reason behind this focus on employee wellbeing and digital health, how he balances the double-edged sword of bringing on strategic investors early in a startup’s life, lessons learnt from his times with AirAsia X and iFlix that have helped him build Naluri, and what his ambitions for the company look like ahead.Before his startup Naluri, Azran Osman-Rani started his career in management consulting, before moving to Bursa and then Astro in business transformation and business development roles. In 2007, he got his first taste of building and running a company, taking on the CEO role at AirAsia X for almost 8 years, before joining iFlix’s leadership team as Group COO and CEO for Malaysia for around 2 years.All these experiences played a role in his journey to startup founder and how he approached building Naluri.Founded in 2017, Naluri takes a proactive approach at tackling employee health and wellbeing in the hopes that preventive healthcare will lead to improved employee productivity, reduced healthcare claims, and ofcourse, improved real-world business results.Naluri made around $4 million in annual revenue last year and is aiming to drive growth ahead through more geographic expansion, expanding their focus from the large enterprise space to the SME space, and looking into more products and services that compliment their existing offerings. Currently operationally profitable in Malaysia, Indonesia, and Singapore, Naluri aims to break-even this year and is working on raising its next funding round which it hopes to be in the USD$10-20 million range.See omnystudio.com/listener for privacy information.

Love, Bonito’s 14 Year Journey, Brick-And-Mortar Growth, And Tapping Into The Asian DiasporaStarting out as a humble blogshop selling second-hand clothes in 2005, today Singapore-based e-commerce and fashion brand Love, Bonito calls itself the largest vertically integrated, omnichannel women's fashion brand in the region.The direct-to-consumer brand was created with a commitment to accessible and thoughtful designs, specifically tailored for the Asian female demographic and is now present in multiple countries and exports to over 20 countries. In Malaysia, the firm now has 6 outlets, having recently celebrated their sixth and newest addition - the flagship store at The Exchange TRX.In this episode of Open for Business, we speak to Dione Song, the CEO of Love, Bonito about the brand's journey from a humble blog shop to the largest vertically integrated omnichannel women's fashion brand in the region, Love Bonito's commitment to catering specifically to the Asian female demographic, the transition from an online focus to an omni-channel marketing approach, and their growth story ahead.02:02 The Genesis of Love Bonito03:06 The Philosophy Behind Love Bonito's Fashion05:00 The Importance of Representation in Fashion07:00 Dione Song's Journey to CEO of Love, Bonito14:07 The Omni-Channel Approach of Love, Bonito17:30 The Importance of Customer Data in Retail20:12 Transitioning from Online to Offline Shopping20:39 Creating Unique Offline Shopping Experiences24:57 Expanding into New Markets32:12 Love, Bonito’s Growth and Profitability36:11 Future Plans and Trends in the Fashion IndustrySee omnystudio.com/listener for privacy information.

Samadhi - the moment when the mind achieves stillness and total meditative consciousness. True to its name, Samadhi Retreats is a sanctuary for serenity and holistic hospitality, all while harmonising with nature and embracing sustainability.Samadhi Retreats boasts a chain of luxury hotels, resorts, and restaurants strategically situated "in the middle of nowhere," surrounded by nature. Each location aims to provide customers with a distinctive escape from the hustle and bustle of life.Today on Open for Business, we speak to Federico Asaro, the CEO, and Founder of Samadhi Retreats. He shares insights into the unique Samadhi DNA, discussing the challenges and successes of intertwining luxury, nature, and sustainability in the hospitality scene.See omnystudio.com/listener for privacy information.