Wood-based material maker wins bank race


AmBank Group chairman Tan Sri Azman Hashim (fourth from left) and Yap (second from right) with the top three winners of AmBank BizRace 2018.

THREE diverse companies were the top three winners in the finale of the first AmBank BizRace.

Segamat Panel Boards Sdn Bhd, a manufacturer of high quality wood-based material, was the grand prize winner and awarded the title of AmBank Business of the Year 2018.

Its managing director, Peter Fitch, said, “It was a shock, because the contestants were extremely good and I never imagined we would come out tops.

“I believe one should not give up despite the many stages in a business cycle. We have to work through it and stay positive,” he said, adding that the experience from the AmBank BizRace helped him in developing the company’s new business plan.

Plus Solar Systems Sdn Bhd, a solar energy solutions provider, clinched the second prize.

Its co-founder and executive director Ko Chuan Zhen said he was more focused on the content and pitch sessions than winning.

“We didn’t have high expectations of winning as we were focused on learning and improving our pitch.

“This is a very different competition because it’s not just about getting awards but we were also given lots of exposure to successful, established entrepreneurs as speakers, experienced trainers who shared valuable insights that we could implement immediately in our company,” Ko added.

For the second runner-up, The Boom Beverage Sdn Bhd, manufacturer of Hausboom Sparkling Real Juice, getting to the top three was motivation to continue to strive for business excellence.

“Initially, we didn’t expect that being a traditional company could take us this far in the AmBank BizRace. The trend nowadays is usually skewed towards technology businesses,” said chief executive officer and director Azri Zahier Azmi.

Segamat Panel Boards was presented with a media package worth RM315,000, while Plus Solar Systems and The Boom Beverage, were presented with media packages worth RM175,000 and RM105,000 respectively.

Plus Solar Systems received the “K-Pintar Executive Education Award” which entitles them to two seats to the European School of Management and Technology (ESMT) in Berlin, Germany, worth RM100,000.

Segamat Panel Boards received the “AmMetLife Sustainability Award”, a AmMetLife Group Term Life insurance coverage customised to the needs of the company worth RM50,000.

The Boom Beverage received the “CGC International Market Access Award”, which gives the company an opportunity to explore and penetrate the international market via a major international exhibition, worth RM10,000.

The AmBank BizRace is an entrepreneurship challenge competition aimed at providing SMEs with access to valuable knowledge-sharing sessions and development training.

“We congratulate the awards recipients for successfully making it all the way to this stage.

“We applaud their efforts in finally reaching to the awards night with sheer perseverance and determination,” said AmBank Group business banking managing director Christopher Yap.

The AmBank BizRace journey began last year from almost 1,000 registrations.

The top 100 applicants were then selected based on their plans for scalability and growth.

The Top 15 SMEs are also entitled to the Senior Management Develop-ment Programme at a prestigious university abroad and a one-year subscription for the Harvard Manage Mentor Digital Programme, both sponsored by the Human Resources Development Fund (HRDF).

The AmBank BizRace 2018 is co-sponsored by AmMetLife Insurance Bhd, Credit Guarantee Corporation Malaysia (CGC), Digi Telecommunications, HRDF and K-Pintar Sdn Bhd.  

For details, visit ambankbizclub.com.

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