Latest news with #StarOutstandingBusinessAwards2025
The Star
22-07-2025
- Business
- The Star
Tackling current business issues
INDUSTRY experts gave tips at the recent Star Outstanding Business Awards 2025 LAB participants on how to navigate the challenging times wrought with geopolitical uncertainties. Then in the second session, the panel of experts explored different methods that small and medium enterprises (SMEs) seek financing outside of the conventional practice of approaching normal financial institutions. The afternoon event, which was held at Menara Star to a packed audience, was attended by Star Media Group chief executive officer Chan Seng Fatt and chief operating officer Lydia Wang. Similar to previous labs, there were two sessions that covered two distinct topics. The first topic explored the challenges that companies face in light of 'The Tariffs and Taxes Aftermath: What is Next for Malaysian Businesses?' Moderated by the Malaysia Entrepreneurs and Development Association president Datuk Teh Tai Yong, the topic was discussed by panel speakers past SOBA winner Mega Fortris Berhad group managing director and group chief executive officer Datuk Adrian Ng, PKT Logistics Group Sdn Bhd chief operations officer Dr Jason Cheah and Malaysia External Trade Development Corporation (Matrade) strategic planning division director Noor Hayati Abu Noh. The speakers discussed the different scenarios that businesses have to confront, from the 25% tariffs imposed by the United States to the expanded Sales and Service Tax from the government as well as instances of supply chain disruptions due to the civil unrest in the Middle East. Ng advised businesses to understand themselves and to draw back until the time is right to scale back up. Noor Hayati both touched on the importance of diversification, either in business or which country to trade with. Cheah urged SMEs that it is time to start looking into environment, social and governance matters as it has a profound impact. The second session, which was moderated by Associated Chinese Chambers of Commerce and Industry of Malaysia treasurer Datuk Koong Lin Loong, gave SMEs enlightening information on 'Raising Funds and Accessing Capital for Business Growth'. Speakers in this session included RHB Bank Berhad SME banking, SME engagement head Sim Ee Chiew, Credit Guarantee Corporation Malaysia chief business officer Sean Tan, PEOPLElogy Berhad founder Allen Lee and Hernan Corporation founder and group CEO Datuk Anna Teo. The panel gave a lively session as Teo declared she rarely approached banks for financing. She asked businesses to be more flexible and explore other possibilities. While banks would be the first step for budding businesses, she said entrepreneurs should network and ask about other alternatives, such as private equities. Tan explained that CGC's job is to transfer the credit risks from a bank to CGC. In the event a business fails, and the SME is unable to pay, CGC will provide the necessary relief. Ng shared his experience of raising funds via the initial public offering route, which he said was 'more challenging because (Bursa Malaysia) wants the public to trust you (hence the need for) transparency.' Sim said that banks do much more than just provide loans, they help enhance cash flow and operation efficiency in order to eliminate idle cash, as well as digitalisation services. Besides the panel discussions, SOBA sponsors introduced their business models and some of their services to the participants. CGC's SME advisory and strategic alliances head Mike Wong talked about some of the services that are available to SMEs that are seeking ways to finance their companies. PKT Logistic's presentation was on the company's diversified range of services, from logistics and education to its own inland port, presented by Cheah. RHB Bank SME business development head Kelvin Chin and U Mobile Sdn Bhd commercial pre-sales section head Lim Swee Mei showcased the services that would benefit SMEs in their businesses. SOBA 2025 is organised by SMG with CGC, PKT Logistics, RHB Bank and U Mobile as main sponsors, Great Wall Motor Malaysia as co-sponsor, and Matrade as the official trade promotion partner. It is audited by BDO while radio stations 988 and Suria are official media partners. For details, call the SOBA hotline at 017-231 1789 or visit Look out for the announcement of the next SOBA LAB 2025, which will be held on Aug 14 at Iconic Hotel, Bukit Mertajam, Penang.
The Star
05-06-2025
- Business
- The Star
Business awards launched to promote entrepreneurial excellence
PETALING JAYA: With the theme of 'Powering Tomorrow: Driving Sustainable Growth' the Star Outstanding Business Awards 2025 continues to recognise and honour businesses and entrepreneurs that have excelled in their quest for success and achievement. Launched at Menara Star on June 5, the event was attended by sponsors and partners, with Star Media Group (SMG) chief executive officer (CEO) Chan Seng Fatt at the helm, together with chief operating officer Lydia Wang. The event was also graced by SOBA 2025 sponsors Credit Guarantee Corp Malaysia Bhd (CGC), PKT Logistics Group Sdn Bhd (PKT Logistics), RHB Bank Bhd (RHB Bank) and U Mobile Sdn Bhd (U Mobile), together with official trade promotion partner Malaysia External Trade Development Corp (Matrade), as well as the awards' strategic and working partners. In his welcome speech Chan pointed out that since Malaysia officially assumed the Asean chairmanship on Jan 1 this year, the country is at a strategic inflection point in its regional journey. 'This leadership role serves as a powerful springboard to strengthen regional integration, enhance market diversification and advance economic diplomacy,' he said. This presents local businesses the opportunity to venture into new markets on a global scale. 'At the same time, we are navigating a rapidly evolving business landscape – driven by technological disruption, shifting consumer expectations and the increasing imperative for sustainable practices. 'In this new era, agility, foresight and innovation will distinguish those who endure from those who lead,' he cautioned. In a statement, CGC president and CEO Datuk Mohd Zamree Mohd Ishak emphasised that CGC is committed to empowering Malaysian micro SMEs (small and medium enterprises) and supporting platforms like SOBA 2025 reflects that mission. 'By recognising SME excellence, we highlight deserving businesses that may benefit from greater access to financing.' PKT Logistics chief revenue officer Kuan Eu Jin said: 'PKT is a homegrown company and was once an SME. Through ups and downs, we learnt a lot along the way and feel honoured to be able to share it on such a celebrated event like SOBA.' He advised that in times of uncertainty, SMEs should be able to flex and adapt to the situation, that they should stay close to the powers of the market and innovate a way out or adapt to changing needs. For RHB Bank, group corporate and business banking managing director Wendy Ting said: 'RHB's continued support for SOBA and similar platforms reflects our commitment to advancing SME excellence as a national economic priority'. She also shared that for businesses to stay competitive in the current economic climate, they should embrace digital transformation and artificial intelligence (AI), invest in sustainability and green growth, enhance their cybersecurity and data resilience, prioritise human capital and upskilling and leverage government and private sector support. U Mobile chief information officer Neil Tomkinson said: 'SOBA is a timely platform to spotlight how SMEs are adapting to major shifts in tech and customer expectations.' He added that in 2025, trends like Al enablement, cybersecurity, and digital agility will determine business longevity and U Mobile is ready to lead businesses on their journey. Matrade senior director of Strategic Planning Division, Remee Yaakub noted that 'SMEs are the backbone of Malaysia's economy, contributing significantly to job creation, innovation and exports. 'By supporting platforms like SOBA, we not only recognise outstanding achievements but also inspire more SMEs to adopt best practices, strive for global competitiveness, and drive the nation's trade performance.' The launch revealed knowledge-sharing platforms, the SOBA LABs, will continue to offer insights from seasoned business leaders. Those interested can also look forward to SOBA Elevate, an initiative that presents actionable strategies, networking opportunities and more. The launch also announced six SOBA ambassador appointments for this year from business association experts and past winners. SOBA Awards 2025 will be presented in 18 categories, in two separate tiers: one for below RM25mil, and another for RM25mil and above. Also included is the Mikro SOBA Mikro Recognition Awards, which recognises local micro brands or businesses with annual turnover of less than RM300,000. SOBA 2025 is organised by SMG with CGC, PKT Logistics, RHB Bank and U Mobile as main sponsors, and Matrade as the official trade promotion partner. It is audited by BDO while radio stations 988 and Suria are official media partners. For details, call the SOBA hotline at 017-231 1789 or visit
