Enterprise Explores

We explore the world of AI and its transformative potential for tech startups in Malaysia with Sharma Lachu, the Founder & CEO at Accendo Technologies and Pang Sern Yong, the Founder at AIHQ. As Google for Startups recently launched a new programme in partnership with the AI Academy, aimed at accelerating the growth of AI startups across the Asia-Pacific region, we explore what this means for local innovators. We discuss how AI academies can play a crucial role in nurturing Malaysia's startup ecosystem, the support structures that are essential for success, and the future impact of AI on the nation's tech landscape.Image Credit: AI-generated image (Midjourney)See omnystudio.com/listener for privacy information.

We explore the world of AI and its transformative potential for tech startups in Malaysia with Sharma Lachu, the Founder & CEO at Accendo Technologies and Pang Sern Yong, the Founder at AIHQ. As Google for Startups recently launched a new programme in partnership with the AI Academy, aimed at accelerating the growth of AI startups across the Asia-Pacific region, we explore what this means for local innovators. We discuss how AI academies can play a crucial role in nurturing Malaysia's startup ecosystem, the support structures that are essential for success, and the future impact of AI on the nation's tech landscape.See omnystudio.com/listener for privacy information.

Board directorship is a serious commitment, not a leisurely retirement gig. This is the key sentiment Enterprise Explores with Michele Kythe Lim, President & CEO of the Institute of Corporate Directors Malaysia (ICDM), and Tunku Alizakri, Former Chairman of Penjana Kapital and current board member of Petronas Dagangan and Bumi Armada.Board directorship is often seen as a cushy retirement reward, a final, comfortable stop for seasoned executives (or even friends and family). However, in today’s fast-paced and complex business environment, this view is not only outdated but also potentially harmful. The role of a board director is demanding, requiring continuous education, a deep understanding of current issues, and a commitment to governance and operational oversight. It's far from a leisurely retirement gig.As the responsibilities of boards grow increasingly complex, Michelle and Alizakri emphasise the need for professionalisation as they share their experiences and insights on the true scope of the role of board members, the importance of board selection and diversity, and the shift towards viewing board roles as professional careers rather than retirement perks.Among key topics we discuss include:Professionalization of Board Roles: The need for professionalisation of board roles is emphasised, moving away from the outdated view of board positions as retirement perks.Chairperson’s Role and Skills: The chairperson plays a critical role in managing board dynamics, ensuring diverse perspectives are heard, and guiding the board towards effective decision-making.Board Diversity and Performance: There is a direct correlation between board diversity and company performance. Diverse boards bring a variety of perspectives that enhance decision-making.Board Remuneration and Talent Attraction: Adequate remuneration is necessary to attract and retain talented board members who can bring valuable insights and expertise to the board.Transition Challenges for Executives: Transitioning from an executive role to a board role requires a significant change in mindset, focusing more on oversight and strategic guidance rather than day-to-day operations.Balancing Governance and Operational Roles: Board members must strike a balance between providing governance and understanding the operational realities of the business without overstepping their roles.Importance of Continuous Development: Continuous education and training are essential for board members to stay effective and keep up with the evolving business and regulatory environment.Regulatory and Compliance Pressures: Increased regulatory and compliance requirements, such as sustainability reporting, add to the responsibilities of board members, necessitating a deeper understanding of these areas.Shareholder Dynamics: The influence of majority shareholders and the need for independent directors to balance shareholder interests with the company's long-term goals were discussed, highlighting the importance of objective decision-making and potential conflicts of interest.Future of Board Career: Board directorship is a viable and rewarding career path, with both Alizakri and Michelle encouraging more professionals to consider this route and contribute their expertise at the board level.Tune in to understand the critical importance of professionalising board directorships and the continuous development required to meet the demands of today’s fast-changing business environment.See omnystudio.com/listener for privacy information.

Technology lifecycle management is a critical enabler of business success. However, the proliferation of technology consumption models, coupled with an increasingly complicated and fragmented supplier ecosystem, make it difficult for many organisations to adequately maintain their technology infrastructure in a way that fosters business agility and innovation. Global IT infrastructure and services company NTT DATA’s inaugural Lifecycle Management Report has found that globally 80% of organisations agree that inadequate or outdated technology is holding back organisational progress and innovation efforts. In fact, 93% of C-suite executives in APAC believe legacy infrastructure is greatly hindering their business agility. In addition, more than two thirds (69%) of currently active hardware in APAC (with scheduled last day of support) will no longer be supported by 2027.Today, we speak with NTT DATA’s CEO for Malaysia, Henrick Choo, to explore the strategic importance of lifecycle management, uncover the obstacles hindering technology and business alignment, and identify actionable insights that organisations can implement to overcome these challenges.See omnystudio.com/listener for privacy information.

What do DuitNow, MyDigital ID, PADU, and e-invoicing have in common? They’re all part of Malaysia’s Digital Public Infrastructure (DPI). In today’s digital landscape, designing a comprehensive DPI platform is essential for a nation’s successful digital transformation.Ernst & Young Consulting (EY) released their Digital Public Infrastructure report in June, highlighting how DPI facilitates data exchanges, creates digital identities, and enables seamless financial transactions.Joining us to delve into these developments is Shankar Kanabiran, Malaysia Deputy Consulting Leader & Partner at EY Consulting. We’ll explore the foundational factors needed for effective and trusted DPI, its role in national digital transformation, and the key challenges to implementing a robust DPI strategy. Tune in for an in-depth discussion on how Malaysia can build its digital future.See omnystudio.com/listener for privacy information.

What does Malaysia's new regulatory requirements for internet messaging and social media services entail? How could they impact businesses and users alike? Enterprise Explores dives into these questions and more.Starting August 1st, all social media and internet messaging services with at least eight million registered users in Malaysia must apply for a Class A Application Service License under the Communications and Multimedia Act 1998. This new framework, set to be fully enforced by January 1st, 2025, aims to enhance online safety and accountability.Joining us today to discuss the key licensing requirements, potential impacts, and broader implications are Ong Johnson and Lo Khai Yi, Partners at law firm Halim Hong & Quek, who jointly lead the Technology Practice Group. We'll explore how these regulations could affect social media platforms, businesses, and end-users, addressing concerns about investment deterrents, censorship, and enforcement challenges.See omnystudio.com/listener for privacy information.

Discover the essentials of the new e-invoicing regime and the flexibility granted for the initial six months. Learn the difference between transactional and consolidated e-invoices and how businesses can adapt without delaying implementation. Explore practical compliance strategies to avoid penalties and ensure accurate reporting during this transition. The discussion emphasizes the importance of tax transparency and the benefits of digital transformation in easing the invoicing process. Join experts as they clarify misconceptions and share insights for a smoother adaptation.

Sustainability reporting is a vital aspect of corporate transparency, driven by stakeholder demands for greater accountability in ESG practices. In Malaysia, Bursa Malaysia has mandated enhanced sustainability reporting for listed companies starting from the fiscal year ending December 31, 2023, with full implementation by 2025.PwC's “Gaps in Sustainability Reporting” report highlights current challenges and areas for improvement in Malaysia. We speak with Farhana Jabir, Director of Sustainability & Climate Change at PwC Malaysia, to discuss the foundational elements of an ESG strategy and sustainability reporting, the evolving regulatory landscape, and the role of independent assurance. We also dive into the importance of obtaining top-down buy-in from the board, as well as managing and meeting stakeholder expectations, from the boardroom and regulators to suppliers and employees.See omnystudio.com/listener for privacy information.

Sustainability reporting is a vital aspect of corporate transparency, driven by stakeholder demands for greater accountability in ESG practices. In Malaysia, Bursa Malaysia has mandated enhanced sustainability reporting for listed companies starting from the fiscal year ending December 31, 2023, with full implementation by 2025.PwC's “Gaps in Sustainability Reporting” report highlights current challenges and areas for improvement in Malaysia. We speak with Farhana Jabir, Director of Sustainability & Climate Change at PwC Malaysia, to discuss the foundational elements of an ESG strategy and sustainability reporting, the evolving regulatory landscape, and the role of independent assurance. We also dive into the importance of obtaining top-down buy-in from the board, as well as managing and meeting stakeholder expectations, from the boardroom and regulators to suppliers and employees.See omnystudio.com/listener for privacy information.

The Malaysian Communications and Multimedia Commission (MCMC) is introducing a new regulation to maintain a secure digital environment. Effective 1 August 2024, social media and messaging platforms with over 8 million users must be licensed in Malaysia. This move aims to enhance regulatory oversight, ensure compliance with local laws, and protect user data, and potentially raises concerns about possible bans on non-compliant platforms and the broader implications for businesses, influencers, and digital marketing.Today, we discuss this with Richard Ker, the Founder and Chief Storyteller of Richard Ker Digital, on what this new regulation means for businesses reliant on these platforms for marketing and communication, and how compliance costs and potential platform bans will impact operational strategies and market dynamics.See omnystudio.com/listener for privacy information.