Gearing up for business sustainability


  • Corporate News
  • Saturday, 12 Sep 2020

Kuan: It is important to ensure good communication with a clear brand voice.

PETALING JAYA: Entrepreneurs and small and medium enterprises (SMEs) keen to attend the third SOBA LAB, to be held on Sept 14 in Menara Star here, will be able to garner insights into building resiliency and sustainability into their businesses.

Titled Road to Recovery in Restoring Business Sustainability, it will start with a panel discussion featuring Digi SME business division head Steven Soon, RHB Bank Bhd SME banking head Yip How Nang, Credit Guarantee Corp Malaysia Bhd (CGC) chief business officer Leong Weng Choong and PKT Logistics Group Sdn Bhd chief marketing officer Kuan Eu Jin.

SME Association of Malaysia national council member Datuk Grace Chia Hui Yen will moderate the session.

Yip: SMEs must pay attention to overall cash flow management for business sustainability.Yip: SMEs must pay attention to overall cash flow management for business sustainability.

Those interested can register at bit.ly/sobalab20203. Limited seats are available. The workshop will adhere to the strict standard operating procedures for physical distancing and hygiene practices, as advised by the Malaysian National Security Council.

During the panel discussion, Digi’s Soon will focus on digitalisation and the need to leverage technology to survive and thrive in the “now” normal.

He said: “Regardless if you’re a micro, small or medium business, digitalisation is no longer an option... And at a time when businesses are under cost pressure, it is in fact more expensive not to digitalise.”

Leong: Restructuring and rescheduling can help ease SME cash flow concerns.Leong: Restructuring and rescheduling can help ease SME cash flow concerns.

Business sustainability in the “now” normal, he added, is largely anchored on two key aspects, namely digital transformation of business operations and having the right growth mindset to find opportunities amidst crisis.

RHB Bank’s Yip will delve into overall cash flow management for SMEs, including aspects they should pay attention to.

“On top of that, I’ll also discuss the areas they must look into for business sustainability during or after the pandemic, as well as share some lessons or examples from my experience interacting with SMEs, ” he added.

Meanwhile, Leong will speak on CGC’s role and share his views on restructuring and rescheduling for businesses once the loan moratorium period ends.

Soon: Digital transformation and having the right growth mindset is key for sustainability.Soon: Digital transformation and having the right growth mindset is key for sustainability.

“Post moratorium, a lot of people will be asking what they can do, so I’ll be sharing on what restructuring and rescheduling will mean for them and how it can help ease their cash flow concerns, ” he said.

Moreover, he will also advise SMEs on changing or reinventing their business models in terms of people, processes and technology.

PKT Logistics Group’s Kuan, on the other hand, will give a different perspective on business sustainability by pulling from the logistics group’s first-hand experience in implementing its Covid-19 Transformation Programme in May.

“As PKT faced unprecedented market uncertainties, we sought new ways of doing business and how we conduct our own operations.

“The Covid-19 Transformation Programme was an opportunity for PKT to further divert from recession-prone business to recession-proof business, ” he shared.

In addition, he will share insights into the essential role of good communication and a clear brand voice, as he believes it is time to actively engage with stakeholders as businesses gear towards the road of recovery.

The session will also feature the success stories of past SOBA winners, including Steel Recon Industries Sdn Bhd director Alison Ong, Poliklinik Shaik Sdn Bhd director Datuk Ameen Shaik Mohamed and DF Automation and Robotics Sdn Bhd director Yeong Che Fai.

Themed recovery, reinvention and restoration, this year’s SOBA LAB consists of five sessions. The upcoming SOBA LABs will take place on Sept 23 and Sept 30. Email soba@thestar.com.my to sign up for subsequent SOBA LAB sessions.

Organised in conjunction with SOBA 2020 as part of the education element of the awards programme, SOBA LAB was designed to arm business leaders and entrepreneurs with the necessary knowhow to take their businesses to the next level.

SOBA 2020 is organised by SMG with Digi, PKT Logistics Group and RHB Bank as main sponsors, Credit Guarantee Corp as co-sponsor and the Malaysia External Trade Development Corp as official trade promotion partner.

It is endorsed by the Ministry of International Trade and Industry, supported by Bursa Malaysia and audited by BDO with dimsum, 988 and Suria as official media partners.

Submissions for SOBA are now open. Locally incorporated enterprises not part of a multinational or listed group with foreign equity not exceeding 50% can participate by completing the application form online via www.soba.com.my or submitting the hard copy to the organiser at Menara Star, Petaling Jaya.

The deadline for entries is Dec 4,2020.

For more information on SOBA 2020, call The Star Events Business Unit at +603 7967 1388 ext 1871 (Lily)/ 1104 (Shamenei) or visit www.soba.com.my.

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Business , Road to recovery , SOBA , RHB Bank , PKT Logistics ,

   

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