Budget 2019 Outlook: What's in Store for Malaysian SMEs? - SME BANK
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
A Monthly Bulletin for Entrepreneurs
Issue 30
August - September 2018
Complimentary Copy
INSIDE THIS ISSUE
COVER STORY
ANALYSIS:
Budget 2019 Outlook: Forecast On Budget 2019 Page 3
What’s in Store for
POINT-OF-SALE:
5 Prevalent Marketing Blunders That
Kill Start-Ups Page 4
Malaysian SMEs? URUS BESTARI:
B
5 Tip Penyebab Usahawan Sukar
Majukan Bisnes Page 5
earing the theme, ‘Building the cited downside risks to growth, including
Nation, Fulfilling the Hopes’, heightened trade tensions, prolonged PERSPECTIVE
the upcoming 2019 Budget is weakness in the mining and agriculture The Dynamism of ASEAN’s Medical
exceptionally important this sectors, domestic policy uncertainty and Tourism Sector Page 6-7
time around to provide clarity fiscal rationalization.
and direction for the country. Budgets are Private consumption is expected to BUSINESS ALERT Page 8
always important but this one is even more moderate in the second half of 2018 and
so as it will be an important opportunity into 2019, partly from the reintroduction HUMAN RESOURCES MANAGEMENT
to set the tone not only for the next of sales and services tax (SST). 5 Ways to Help Keep Your Top Talent Around
fiscal year but also the years beyond. It’s Consumption also faces other headwinds, Page 9
important how the new government will including a falling ratio of job vacancies
try to balance between the challenges of to active job seekers, still-high household SEMBANG USAHAWAN:
fiscal consolidation and growth as well as leverage and moderating property prices.
Mohd Said Bani C.M Din Page 10-11
debt. Most importantly, this is the chance Nevertheless, at this juncture, it expects
to send the signal to investors and private private consumption to remain robust
KNOWLEDGE SPA:
investors about the reform and growth thanks to a healthy labour market, with low
Competing Against Luck : The Story Of
opportunities that Malaysia has. inflation supporting real wages. Amidst
Innovation And Customer Choice Page 12
Growth is seen to be slowing. Earlier, tightening measures and unfavourable
Bank Negara had lowered Malaysia’s external risk factors such as a full-blown
ENTREPRENEURS’ EVENT CALENDAR
economic growth forecast for 2018 to trade war, ensuring a stronger SME sector
Page 12
5% from its earlier estimate of 5.5% to is crucial in strengthening the economy.
6%. Between 2018 and 2020, economists During the previous Budget 2018, the
are expecting gross domestic product small and medium enterprises (SMEs)
(GDP) growth to be in the range of 4.5% had received considerable attention from
to 5.5%, against the earlier forecast of 5% the government which has set aside more
to 6%. Malaysia’s GDP growth may “fall than RM20 billion for the development
below potential” in 2019, which increases and growth of these sectors in terms
the likelihood of monetary policy of allocation, grants, soft loans and
loosening, as private consumption — the guarantees. Following the success of
country’s only significant growth driver 2017 as the Startup and SME Promotion
— moderates amid a “dim” investment Year, the sectors seemed to have never
outlook. Bank Negara Malaysia (BNM) failed to receive sizeable allocation
has adopted a “more cautious outlook annually. Budget 2018 reinforced the
on growth” despite maintaining a neutral significance and vital roles of the SMEs
stance at its policy meeting last month. and aimed to facilitate them in the early
The central bank dropped the phrase adoption of Industry 4.0 to address
that investment “will be supported by competitiveness and rising costs. Hence,
ongoing infrastructure projects” and it was welcoming to note the incentive continue on page 2
Download our mobile apps at www.smebank.com.my
2
Advisor Cover Story
Aria Putera Ismail
Chief Executive Officer
continue from page 1
Editor
Norhisham Hamzah offered for automation as well as the 70% a more business-friendly policy, especially in
guarantee for loans by the Government. Apart human resource development. This can help
Contributors
Khairil Anuar Mohammad Anuar from providing financing and grants for the reduce the cost of doing business (in the long
Wan Zainuddin Wan Muda SMEs, Budget 2018 strongly reflected the run). We need to have better competitiveness
Rusydan Hamedy Rusli impact of social innovation. Malaysia has and be business-friendly.
Ahmad Azuar Zainuddin so many aspiring entrepreneurs who need Although the government has said that
Nursyafiqah Mohd Rafee
nurturing, guidance, mentoring and financing. it is going to be a tight budget, the industry
Design & Layout It continued to enhance further Digital Malaysia hopes that there will still be a good allocation
Haja Sharoni Shah with a sum of RM100 million to expand the to SMEs especially in the area of export. The
Rafiq Asyraf eRezeki, eUsahawan and eLadang programmes Market Development Grant (MDG) has been
under Malaysia Digital Economy Corporation particularly useful. Export contribution by
(MDEC). The RM20 billion allocated funds SMEs is still low at the moment, so there is
Published By and incentives were expected to further fast- definitely room to grow.
Small Medium Enterprise track SMEs’ contribution to the country’s Another item on SMEs' budget wishlist
Development Bank gross domestic product (GDP) targeted at 41% is incentives to help SMEs reduce their
Malaysia Berhad (49572-H)
Menara SME Bank by 2020. reliance on foreign labour. There needs to
Jalan Sultan Ismail be incentives in the area of automation and
50250 Kuala Lumpur in skills training. SMEs are looking into ways
Wilayah Persekutuan SO WHAT CAN SMEs ANTICIPATE FROM they can go forward with automation. But
Tel: +603 2615 2020
Fax: +603 2698 1748
BUDGET 2019? cost of automation is still a challenge. The
Customer Service Centre: industry is also proposing three years of tax
+603-2603 7700 The 2019 Budget, the first under the Pakatan free incentives for startups and e-commerce
www.smebank.com.my Harapan (PH) government, will present an businesses to help new companies shore up
opportunity for an overhaul and reform of the liquidity in the early years. This will help them
Project Management
Centre For Entrepreneur economy. Scheduled for tabling in Parliament invest in technology and innovation to build
Development And Research on Nov 2, the budget would likely be less than and boost their business.e. And they need
Sdn Bhd (CEDAR) (1042601-M) the RM280.25 billion “mother of all budgets” guidance on how to go about it.
Level 6, Menara SME Bank tabled last year by Datuk Seri Najib Razak. The likely lower 2019 Budget will be in
Jalan Sultan Ismail
50250 Kuala Lumpur Prime Minister Tun Dr Mahathir Mohamad line with the lower-than-expected revenue
Tel: +603 2615 3862 had said the 2019 Budget would entail many due to the change from the Goods and
Fax: +603 2692 5916 sacrifices as the government grappled with Services Tax (GST) to the Sales Tax and
www.cedar.my reducing more than RM1 trillion in debts Services Tax (SST). One of the key challenges
and liabilities it inherited from the previous included how the government could increase
administration. its spending efficiency, delivering the same
DISCLAIMER The new government has acknowledged quality of services with a lower budget. This
The views and opinions expressed
throughout this newsletter are those of the the need to continue developing SMEs to can be achieved by reducing wastages and
authors and do not necessarily reflect the achieve an inclusive and balanced growth. As leakages. To meet the people’s expectation
official position and views of the SME Bank.
part of its efforts to strengthen sectoral growth — in terms of cost of living, including welfare
Copyright © Small Medium Enterprise and structural reforms, encouraging SMEs and economic support — the government
Development Bank Malaysia Berhad.
All rights reserved. This publication is not to to move up the value chain will be among the would likely prioritise social and economic
be reproduced in part or whole without the
express permission of the copyright holders.
government’s key focuses to support economic sectors. Spending on social programmes,
Materials on this publication are protected by expansion for the remaining part of the 11th such as education, healthcare and support for
copyrights law. Unauthorised reproduction
or distribution of copyright materials, or any
Malaysia Plan (11MP) from 2018-2020. the low-income group will continue to be the
portion of it, may result in severe civil and The government is expected to increase priority. The new government has reviewed
criminial penalties and will be prosecuted to
the maximum extent possible under the law. export capacity, improve market efficiency and some mega infrastructure projects since
facilitate the ease of doing business as part of taking over. The government should look at
its strategies for reforms. These will include how to enhance the workforce’s productivity
measures to accelerate the modernisation of and ability to increase wages to reduce the
economic sectors, increase export readiness inflationary pressure in property, education
and internationalisation, promote fair and healthcare.
competition as well as improve regulatory and
trade practices. The government should provide
SME Bank Group of Companies
BizPulse | Issue 30 : August - September 2018
BizPulse | Issue 30 : August - September 2018 3
ANALYSIS
Forecast On
Budget 2019
by PMO and Research
T
he budget announcement for Malaysia GDP Growth and Private Consumption
2019 will be on 2 November
as stated by the Minister of 6.5 10
Finance and has been described
as “budget of sacrifices” by the
Minister. This upcoming budget marks 6
7.5
the first budget of the new government
post General Election that saw a historical 5.5
moment for the People of Malaysia. To
begin with, the tabling of the annual 5
budget will likely reveal lower allocations 5
for both operating and developmental
expenditures since the new government 2.5
has been trying to curb the hefty debts left. 4.5
On the economic outlook, developing
Asia including Malaysia is on track to meet 4 0
growth expectations for this year and 2013 2014 2015 2016 2017 2018f 2019f 2020f 2021f 2022f
2019, but there will be few downside risks
such as the possibility of financial market Private final consumption, real growth % y-o-y
stress, escalating trade protectionism Real GDP growth, % y-o-y
and heightened geopolitical tensions.
The Malaysian economy is expected to Source: Dept of Statistics
remain resilient in 2019 due to its strong
macro fundamentals, led by high domestic
demand on the back of lower government debt numbers, as of 2017, the official In addition, the government is
spending and eased public consumption. total government debt, lease payments expected to introduce new taxes,
In the first half of 2018, Malaysia’s for public-private partnership projects recovering funds from financial scandals
economy grew at a slower pace at 5.0% and government guarantees amounted and to the extent of monetizing non-critical
compared to 5.7% in the corresponding to RM686.8 billion, RM201.4 billion and and non-strategic assets while opting for
period of 2017, due to moderation in the RM199.1 billion, respectively which lowering ownership in few GLCs.
manufacturing sector coupled with a make up the RM1 trillion number. The
slowdown in public investments. economy next year will focus on cost- Expectations:
All in all, the budget will likely be a optimisation through fiscal consolidation 1. New sources of revenue: New tax
more contractionary budget with lower by institutional reform, optimizing structures (Digital Tax, Soda tax,
public spending while focus to be more expenditure and rationalizing debt while Inheritance tax and Capital Gains Tax)
on fiscal consolidation. Looking at the boosting the new sources of revenue. 2. Reduction in the previous Bantuan
On revenue side, the re-introduction of Rakyat Satu Malaysia (BRIM) or
Government Revenue and Expenditure Sales and Services Tax (SST) which Bantuan Sara Hidup (BSH) while
takes place in last September will result focus to be on Bottom-40 (B40)
2018e 2019f in lost revenue to the government of income group.
RM m RM m approximately RM19.0 billion. In order to 3. Increase in personal income tax for
Total Revenue 239,860 224,627
achieve the fiscal consolidation target Top-20 (T20) income group.
of 2.8% for 2018, the government has 4. Continuation of programmes that
Total Expenditure 279,650 269,968 postponed or cancelled some mega will enhance wellbeing of people in
projects, including the KL-Singapore High general.
of which Speed Rail (HSR), MRT Line 3 (MRT3) and 5. Closure of programmes with no or
East Coast Rail Link (ECRL). Besides, the limited social benefits.
Operating
expenditure
234,250 229,968 government has also reduced the cost of 6. Strict monitoring on subsidies,
certain mega projects such as Light Rail projects and expenditure on supplies
Development Transit 3 (LRT3) and MRT Line 2 (MRT2). and services.
45,400 40,000
expenditure In view of rising crude oil prices to the 7. SMEs: focusing on Fourth Industrial
average of USD70-75 per barrel this year, Revolution (Industry 4.0) and reducing
Overall Balance -39,790 -45,350 the government has estimated a rise in SMEs dependence on foreign labour.
GDP at current price 1,446,793 1,516,239 total revenue collection. Savings from
administrative cost, higher dividend In conclusion, the 2019 budget will be a
Fiscal deficit 2.8% 3.0% payments from Petronas, GLCs and others lean budget but with continued emphasis
will help towards achieving the 2.8% fiscal on supporting growth and protecting the
Source: Ministry of Finance deficit target. wellbeing of the people.
Issue 30 : August - September 2018 | BizPulse
4 BizPulse | Issue 30 : August - September 2018
POINT-OF-SALE
where you can grab their attention. Don’t
rush ahead without understanding your
audience. You’re likely to have more than
one target audience for your product, and
each audience may have its own channel.
You need to figure out which channels will
give you the best return and which should
be avoided.
Staffing Up Your Marketing Effort
Too Quickly
It’s tempting to want to bring in the best
of the best to build your brand by making
an investment in high-calibre marketing
staff, but don’t do it. The only time you
should invest in expanding your marketing
team is when you’ve exhausted all of your
efforts and low-cost options, or you have
no choice because time commitments
require you to focus on other things.
Prevalent
Low-cost options here include agencies,
independent freelancers and interns. By
using them, you’ll get more marketing for a
lower spend, compared to hiring full-time
Marketing in-house marketing personnel.
Spending Too Much Time On
Blunders
Brand Perfection
Too many start-ups want to change their
name early on and completely rebrand, or
that Kill revise their website design over and over.
Investing in perfection too early in terms
of your brand assets will yield few results
Start-Ups
other than a waste of funds. Then there
is excessive brand promotion. Hyper-
focusing on your brand, particularly on
social media, is another no-no. The best
approach is to run a lean start-up method.
oleh CEDAR Research Team Don’t delay launching a website just to get
the copy or design perfect. Once you’ve
launched and start rolling, you can pick up
more information and make those tweaks
No matter what kind of business you start, some marketing mistakes and changes from a much more stable
are inevitable. But start-ups in particular must navigate a unique set position. You can also learn more about
of marketing challenges: restricted budgets, limited resources and the what your followers want to hear from you
regarding your brand and your industry, so
pressing need to build brand visibility. Knowing when and how to invest you don’t drown them in your launch.
in marketing for your business may be the key ingredient to your start-
up’s success. Here are some common marketing mistakes that every Failing To Measure Results
start-up makes and how you can avoid them. When you do spend money on marketing,
you need to track everything you do. If
you don’t know what kind of traction
you got from a specific campaign, you’ll
Spending Money On ‘Big Marketing’ the resulting new demand. Take the time have no idea if you made a return on
Too Quickly to test your audience. Find out who your your investment. Never be afraid to ask
buyers are and spend small amounts customers how they heard about you, and
You may want to take the industry by of money on hyper-targeted marketing. always have a way to link every customer
storm, with a powerful ad or a killer booth Focus on content marketing and work PR back to a campaign. Recognize that the
at the next trade show, but, whoa! You angles, and use free video to spread your mistakes described above are completely
should really rein it in and start slow. You brand message. preventable, but even if you do make them,
don’t want to blow your budget this early they won’t necessarily end your business.
in the game. If you do make the mistake Speaking Through The Wrong Channels Just make sure you retool, rethink and
of spending too much too soon, the worst relaunch your marketing strategy as you
thing that could happen is nothing. The There are countless marketing channels move forward. As long as you prepare
next worst thing that could happen is that you can use to engage customers, but accordingly and learn from your mistakes,
your marketing turns out to be a huge which ones are right or wrong ultimately you can move on to better strategies and
success -- but you’re incapable of meeting depends on who your audience is and drive your business to success.
BizPulse | Issue 30 : August - September 2018
BizPulse | Issue 30 : August - September 2018 5
POINT-OF-SALE
URUS BESTARI
Penyebab Usahawan
Sukar Majukan Bisnes
TIP oleh CEDAR Research Team
Bertahun-tahun bisnes. Pelbagai strategi dan teknik telah digunapakai dalam memajukan bisnes tetapi
mengapa bisnes anda masih tetap di tahap yang sama? Apa yang tidak kena dengan bisnes anda atau
sebenarnya berpunca daripada anda sendiri? Sedar atau tidak ada ramai pemilik bisnes yang telah membuang
masa dengan melakukan perkara berikut. Jom kita lihat apakah faktor-faktor itu!
Multitasking disasarkan untuk jangka masa panjang dihujung jari anda seperti hiburan, sukan,
Walaupun ramai yang mengatakan supaya anda akan sentiasa mencari ruang ‘shopping’, media sosial, online video
bagus sekiranya anda mampu dan peluang untuk mengembangkan dan sebagainya. Kekal fokus terhadap
menjadi ‘multitasking’, hakikatnya bisnes. Bisnes anda ‘stuck’ di tahap yang kerja anda dengan menetapkan masa 40
‘multitasking’ menjadikan hasil kerja sama bertahun-tahun jika tiada matlamat hingga 60 minit hanya untuk kerja. Namun,
anda akan menjadi kurang efisien kerana yang jelas mengapa anda melakukan harus diingat jika internet digunakan
melakukan pelbagai perkara dalam bisnes tersebut. Adakah anda melakukan dengan betul, ia akan dapat memajukan
satu masa akan memberi kesan buruk bisnes sekadar cukup untuk meneruskan bisnes anda ke tahap yang lebih baik.
kepada produktiviti. Produktiviti akan kehidupan dan mengelak dari makan Jadi benarlah slogan yang ramai sering
berkurang lantaran mengejar masa untuk gaji? Atau anda mahu empayar bisnes perkatakan “Jadilah Pengguna yang Bijak”
menyelesaikan semua perkara dalam satu membuatkan anda mencapai ke tahap
masa. Secara tidak langsung fokus dan anda benar-benar bebas hutang? Rancang Suasana Kerja Yang Tidak
perhatian ke atas sesuatu perkara akan sebaiknya matlamat anda dengan jelas Tersusun
terbantut. Jadi gunakan 100% kebolehan supaya anda dan team anda tahu ke mana Bila meja pun serabut dengan
anda untuk menyelesaikan satu perkara arah tuju bisnes yang dijalankan. nota yang sukar dikenalpasti. Bila fail-fail
agar ia lebih efektif. pada desktop dalam komputer tunggang-
Gangguan Dunia Internet langgang. Bila ruang bekerja penuh
Tiada Matlamat Yang Jelas Internet memang akan dengan fail dan kertas tidak tersusun. Itu
Apa matlamat bisnes anda? membuatkan anda hilang fokus punca kenapa anda telah membuang masa
Sebaiknya matlamat itu haruslah kerana segalanya menjadi mudah diakses untuk menyelesaikan sesuatu tugasan.
Anda akan mengambil masa yang lama
untuk mencari dokumen berkaitan kerja
yang anda lakukan. Itu sangat merugikan
bisnes. ‘Time is money’.
Ego Mencari Ilmu
Ini adalah faktor yang paling
merbahaya pada bisnes anda.
Jika seseorang pemilik bisnes merasakan
dirinya sudah cukup pandai dan sudah
cukup bagus dalam menguruskan
perniagaan mereka maka mereka
akan mudah kecundang sebenarnya.
Sedangkan usahawan-usahawan berjaya
juga mempunyai mentor untuk mereka
dapatkan panduan dan bimbingan
dalam usaha mengembangkan lagi
empayar bisnes mereka. Takkan kita
kekal mendongak ke langit kerana selesa
dengan kedudukan sekarang. Maka
perbaiki kelemahan bisnes kita dengan
mencari ilmu dan bimbingan yang
sewajarnya jika anda mahu berjaya.
Issue 30 : August - September 2018 | BizPulse
6 BizPulse | Issue 30 : August - September 2018
PERSPECTIVE
The Dynamism of ASEAN’s
Medical Tourism Sector
By Ahmad Azuar Zainuddin
Medical tourism has long been recognised as big business broad factors discussed earlier. For
example, Singapore is well-known for
in the region, particularly in countries such as Thailand, excellent diagnosis and treatment of
Malaysia and Singapore. In this article, BizPulse look at the oncology as well as stem cell regenerative
therapies while Malaysia for its
landscape, enablers and potential growth areas that regional comprehensive health screenings and
SMEs could tap. Thailand for cosmetic surgery.
T
he World Health Organisation more affordable travel cost given the
availability of low-cost airlines. In addition, MEDICAL TOURISM ENABLERS
(WHO) defines medical tourism
as “medical tourist elect to travel cultural similarity and distance are also
factors influencing regional patients in While we have looked at the macro
across international borders to
their choice of medical care destination level on factors influencing foreign
receive some form of medical
as evident in the influx of medical tourist patient’s decision in determining countries
treatment”. These treatments span
travelling from Laos to Thailand and in the region where they obtain medical
across a full-range of medical services
Indonesia to Malaysia. treatments and care, perhaps we could dig
with the most common treatment being
According to Ghazali Musa, Professor deeper to appreciate factors influencing
dental care, cosmetic surgery, elective
of Business Strategy and Policy at their selection of healthcare provider.
surgery and fertility treatment. In defining
Malaysia’s University Malaya, the region’s In this regard, it is important to first and
medical tourists, it is important to subtract
medical tourism explosion had its origin in foremost satisfy their primary motivation
international patients who are expatriates
the 1997 Asian Financial Crisis when more which is to get high-quality medical care
seeking care in their country of residence
developed Southeast Asian countries that is otherwise unavailable in their home
as well as emergency cases.
looking to diversify their income sources country at lower-cost.
Based on a report by US-based
began promoting affordable and high- With quality and access serving as
Patients Beyond Border, an organisation
quality medical care to attract foreign the most important factors, it is thus key
which monitors trends in medical tourism
patients. for healthcare providers to invest in state-
globally, it is estimated that the medical
Today, medical tourism is a big of-the-art medical equipment and facilities
tourism sub-sector globally is expanding
business in the region with countries and to recruit quality medical practitioners
at a rate of more than 25% annually and
beginning to carve a niche beyond the such as specialist doctors and nurses.
is valued over US$55 billion with a market
of over 11 million consumers. From these
figures, nearly a third comprise of medical
tourists travelling to Southeast Asia.
Nevertheless, it is important to
appreciate that many medical tourists
in Southeast Asia arrives from within
the region itself. For instance, from an
estimated 840,000 medical tourist arrivals
to Malaysia, circa 640,000 hail from
within Southeast Asia. Both Thailand and
Singapore attracts 550,000 and 400,000
intra-ASEAN tourists, respectively.
In general, broad factors influencing
people in the region to travel for healthcare
includes medical cost, shorter waiting
times for procedures, access to treatments
unavailable in their native countries and
BizPulse | Issue 30 : August - September 2018
BizPulse | Issue 30 : August - September 2018 7
Perspective
However, this doesn’t end here; healthcare
providers also need to strategically market
their services in ways that appeal to the
medical consumers.
One way to gain the confidence and
trust of consumers is through obtaining
internationally-recognised accreditations
which certify the level of quality for
the healthcare services provided. With
regard to this, the Joint Commission
International (JCI) is a reputable group
that has been vetting healthcare providers
in the region since 2002. Today, Thailand
boasts 53 accredited hospitals, followed
by Singapore and Malaysia with 22 and
13, respectively.
Moreover, small medium enterprises
(SMEs) should also consider enhancing
the tourism component of medical
tourism by venturing into tourism-related
products such as accommodation,
transportation and travel. As many foreign
patients are accompanied by loved-
ones, perhaps healthcare operators may
consider packaging their services with
tourism-related activities which the region
is already so famous for. In this context,
healthcare operators should consider
collaborating with players involved in the
tourism industry.
SOME POTENTIAL GROWTH AREAS
Halal Medical Tourism - There is a growing Source: iMoney Website
demand for halal medical tourism in
the region, especially in Malaysia and
Singapore which receives a large share such as porcine-free gelatin capsules for for dental tourism. Accordingto Josef
of medical tourists from neighbouring medications and non-porcine insulin. Woodman, CEO of Patients Beyond
Indonesia. Halal medical tourism refers Beyond offering halal medications, Borders, there is an excellent opportunity
to medical tourism which adheres to the healthcare operators involved in halal for the country to promote itself as a
guidelines under the Shariah Law. For medical tourism should consider offering dental tourism destination. People from
instance, healthcare providers should Muslim-friendly services such as halal countries such as the US, Australia as
provide halal medications when available food, qibla directions, prayer facilities, well as neighbouring Southeast Asian
provide doctors and nurses that are countries could save up to 70% on the
the same gender as the patients and if cost of dental treatments in Cambodia.
required, funeral services according to With the savings, they could cover the
...it is estimated that Islamic requirements. cost of a holiday in Cambodia.
the medical tourism The potential is there as within the
Organisation of Islamic Cooperation (OIC),
In essence, as access to healthcare in
Southeast Asia’s less developed countries
sub-sector globally is Malaysia has already carved its name as improves in tandem with region’s overall
the most popular destinations among economic progress, it is unlikely that
expanding at a rate of Muslim tourists, while Singapore and the demand for medical tourism would
more than 25% annually Thailand rank as first and second among subside anytime soon. The region’s rising
non-OIC members. affluence would influence the consumer’s
and is valued over “We realise that if we can come up conditions and preferences. Should
US$55 billion with a with halal pharmaceutical products there’s
a big market for it. As far as Muslims
ASEAN achieve its intended goal of
becoming a single regional; the more likely
market of over 11 million concerned, if you have a halal product, scenario would be a dynamic sector with
consumers. From these there is no compromise,” says Jamil Bidin,
CEO of Malaysia-based Halal Industry
healthy competitions and collaborations
driven on innovative healthcare packages
figures, nearly a third Development Corporation. and services.
comprise of medical Dental Tourism - It is not just the most
tourists travelling to developed countries in the region that are
reaping the benefits of medical tourism.
Southeast Asia. Cambodia is beginning to gain a reputation
Ahmad Azuar Zainuddin is the CEO of Satu Creative
Services Sdn Bhd & freelance writer. He can be reached
as a low-cost and high-quality destination at azuar@satucreative.com
Issue 30 : August - September 2018 | BizPulse
8 BizPulse | Issue 30 : August - September 2018
BUSINESS ALERT
BUSINESS ALERT by PMO & Research
OIL, GAS AND ENERGY TOURISM
OUTLOOK: NEUTRAL OUTLOOK: NEUTRAL
• Oil prices rose on 4th September supported by concerns • Encourage participation of rural folk in tourism as a
that falling Iranian output will tighten markets once U.S. way to improve the livelihoods of these communities.
sanctions bite from November, but gains were limited
• By 2020, the government is targeting to welcome 36
by higher supply from OPEC and the United States.
million tourists with USD41.2 billion in tourist receipts.
• Trade disputes between the United States and other
• More focus will be given to develop tourism in certain
major economies, including China and the European
areas like affordable luxury, ecotourism, family- friendly
Union, are expected to hurt oil demand if they are not
destination, business tourism, entertainment, events
settled soon.
and sports.
• Low-cost carriers, connectivity to secondary
destinations/cities, partnerships with foreign airlines,
the expansion of Middle Eastern airlines to global
HEALTHCARE destinations, new growth markets in areas of special
OUTLOOK: NEUTRAL interest, and others.
• With the growing need for a more efficient healthcare
system to ensure sustainable economic growth,
technology enabled care solutions may help fill the gap.
COMMUNICATIONS CONTENT & INFRASTRUCTURE
• One of the top growth sectors in Malaysia, supported by
a rising affluent class, a growing upper-middle income OUTLOOK: NEUTRAL
population who have better private health insurance • Malaysia is on the right track to realise its smart cities
coverage, as well as supported by medical tourism. vision under the 11th Malaysia Plan 2016-2020 (11MP),
information and communications technology (ICT).
• MoF expects the number of healthcare travelers to
increase to two million by 2020 from current one milliion • Prepaid reloads are not SST-exempt for now. The
following the tax exemption for medical bills. government may ask telcos to give freebies to
subscribers, which could be akin to telcos absorbing
the 6% prepaid SST.
• By 2025, Asia Pacific is expected to have around 619
million SIM Cellular connections.
BUSINESS SERVICES
OUTLOOK: NEUTRAL
• Malaysia started imposing a tax of 5 per cent and 10 WHOLESALE AND RETAIL
per cent on the sale of goods, and a 6 per cent levy on
services with effect from Sept 1. OUTLOOK: NEUTRAL
• Businesses expect growth to slow in the third quarter
• Services provided by hotels, insurance companies,
due to lower confidence levels after recording positive
telcos and professionals like lawyers and accountants
business performance in the second quarter of the year.
are subject to a 6 per cent service tax.
• Wholesale and retail trade is expected to improve at a
• Number of service tax-applicable businesses is 43.49
moderate rate at +3.6% in 2018.
per cent compared to 65.85 per cent that were GST-
applicable. • Foresee a slight increase /maintained in the price of
goods as the immediate impact of SST.
BizPulse | Issue 30 : August - September 2018
BizPulse | Issue 30 : August - September 2018 9
HUMAN RESOURCES MANAGEMENT
Ways to Help Keep
Your Top Talent
Around by Wan Zainuddin Wan Muda
After you put in the time, effort and investment to hire the best employees work. Tap into their passion and allow them
possible, you need to retain that talent. Many books have been written to focus their time and energy on projects
they can enjoy. Let them know what career
and exit interviews conducted as employers look for the secret to development plans you may have for them
keeping their good employees satisfied. Salary, retirement plans and and what opportunities are available for
vacation benefits are high on the list of why those great employees took them to grow with the company.
the job, but they are not reasons enough to keep them in your employ
for the long haul. Job satisfaction will increase your employee retention Recognize and reward good work
rate. Here are a few strategies you can use to retain your talent: Monetary bonuses are always nice,
but recognition of a job well done
goes a long way to creating good will and
Create An Environment That Makes Create An Open And Honest Work loyalty. Recognition needs to be specific:
Your Employees Feel Like An Asset Environment “Good job” is acceptable, but “Good job
To Your Company Give feedback on work performed on the Nelson project” is better. In order
Don’t make them feel like overhead. Allow and be willing to listen, really listen, to to retain talent, you must make them feel
the concerns of your employees. Chance
them to feel secure in their job. Greet them appreciated, respected and worthwhile.
by name, letting them know that you know meetings in the hall where social greetings Recent studies show that when employees
who they are and what their contributions are exchanged are good, but do not take feel undervalued and unappreciated, they
are to the company. Get their input about the place of actually sitting down face- look for other employment. They need to
rules or changes that may need to be made. to-face and discussing any work-related feel that their contributions to the business
Encourage goal-setting and let them make concerns. Be open and listen to new ideas. are important. But the feedback and praise
their own choices as often as possible. Accept suggestions for problem-solving. must be sincere. Top talent is smart
Be available and open when your employee enough to know the difference between
asks for your guidance. Keep your top sincere appreciation and platitudes.
Make Expectations And Goals Of talent informed about what is happening
The Company Clear with the company - don’t let rumours take
Be sure you have job descriptions over. If there are problems or set-backs,
so your employees know what is required communicate this.
of them. If there are changes that need
to be made, don’t expect them to learn
that by osmosis. You must communicate Provide Opportunities To
directly and clearly. Good employees want Grow And Learn, And Let Your
to please you, but they need to know what Employees Know There Is Room
it is they need to do to make that happen. For Advancement In Your Company. Wan Zainuddin Wan Muda is the Director of Group
Provide tuition for continuing education Human Capital Management, SME Bank Malaysia. He
classes. Give challenging and stimulating can be reached at wanzainuddin@smebank.com.my.
If there are
problems or
set-backs,
communicate...
Issue 30 : August - September 2018 | BizPulse
10 BizPulse | Issue 30 : August - September 2018
URUS
SEMBANG
BESTARI
USAHAWAN
Apakah yang mendorong anda untuk
menubuhkan perniagaan ini dan apakah
Temubual oleh Nursyafiqah Mohd Rafee cabaran yang dihadapi anda untuk
SEMBANG USAHAWAN bersama menubuhkan perniagaan ini?
Pada mulanya, saya ditawarkan untuk
Mohd Said Bani C.M Din meneruskan operasi syarikat daripada
seorang kenalan saya. Bagaimanapun,
Pengarah Urusan terdapat banyak cabaran pada ketika
itu, di mana tidak semua kakitangan
syarikat berkenaan mahu berada di bawah
kepimpinan saya. Selepas saya bersetuju
dengan tawaran itu, saya mula mengambil
Nama Syarikat alih operasi syarikat tetapi saya
bzBee Consult Sdn Bhd (bzBee) menggunakan nama bzbee Consult Sdn
Bhd (bzbee) untuk memulakan operasi.
Bidang Perniagaan Saya bermula dengan lima kakitangan,
Konsultansi Komunikasi Dan Media termasuk saya. Lebih mencabar apabila
kami tidak mempunyai satu pelanggan pun
Alamat Perniagaan pada ketika itu. Namun, saya berpegang
Unit 842, Level 8, Lobby C, Block A kepada prinsip yakin pada diri sendiri dan
Kelana Centre Point Jalan SS 7/19 percaya kepada Pemberi rezeki, insyaallah
Kelana Jaya, 47301 Petaling Jaya kami beroleh kejayaan.
Selangor, Malaysia
Saya juga berpegang dengan prinsip tidak
mahu bersaing dengan rakan sebaya dan
Telefon
itu telah menjadi antara elemen penting
03-7886 6267
untuk saya memperoleh kejayaan dalam
setiap bidang yang saya ceburi. Membesar
Email dalam lingkungan adik beradik yang ramai
info@bzbee.com.my juga menyebabkan saya dididik untuk
berdikari dan berusaha sendiri dalam
Web menentukan masa depan saya sendiri.
https://bzbee-consult-sdn-bhd- Saya membesar di Petaling Jaya di mana
public-relations.business.site/ tidak ramai kaum Melayu pada ketika itu.
Jadi, persekitaran dikelilingi bukan Melayu
menjadikan saya perlu buat yang terbaik
S
dan menjadi yang terbaik. Pada saya, jika
uatu ketika dahulu beliau tidak mempunyai seorang pelanggan pun semasa saya bersaing dengan mereka saya akan
memulakan operasi syarikatnya, tetapi ini langsung tidak mematahkan jadi ‘down’, jadi apa yang saya buat, saya
semangat anak muda ini untuk mengorak langkah membina empayar sendiri. tetapkan standard saya dan cabar diri
Bidang yang dahulunya mustahil untuk diceburi kini perlu ditempuhi dengan sendiri. Cara ayah mendidik kami sepuluh
komitmen dan sikap berhati-hati supaya setiap permasalahan atau tugas adik beradik juga sangat tegas dan beliau
digalas mampu dilunaskan sebaik mungkin. mahu anaknya ikut cara kaum Cina belajar
Mohd Said Bani CM Din merupakan seorang graduan jurusan undang- untuk majukan diri.
undang dari University of Sheffield, United Kingdom. Beliau memulakan kerjaya dalam
bidang undang-undang dan bertugas sebagai peguam di United Kingdom, kemudian
menjadi penasihat perundangan sekembalinya ke Malaysia. Pengalaman berkhidmat Bolehkah anda ceritakan secara ringkas
sebagai pegawai diplomatik dan seterusnya menyertai TM International (kini Axiata) tentang perniagaan anda?
selama hampir 20 tahun telah memberanikan beliau menubuhkan syarikat konsultansi
komunikasi dan media sendiri yang dinamakan bzbee Consult Sdn Bhd pada 2010. bzbee Consult Sdn Bhd (bzbee) bukan
Mohd Said Bani CM Din telah berkongsi pengalaman, pengetahuan dan sekadar sebuah syarikat perhubungan
pendapat beliau dalam dunia keusahawanan dengan BizPulse. awam tetapi merupakan gabungan bidang
media, acara, penjenamaan, pemasaran
dan pengiklanan. Ini bermakna, bzbee akan
mengambil ownership setiap projek dan
akan memastikan kepuasan pelanggan
menjadi objektif perkhidmatan kami.
bzbee berpegang kepada kepercayaan
bahawa dalam mendapatkan hasil untuk
pelanggan, kami perlu menganggap
pelanggan seperti syarikat kami sendiri.
Kami menyediakan pengurusan proses
untuk pelanggan termasuk strategi
perhubungan awam, pemasaran promosi
BizPulse | Issue 30 : August - September 2018BizPulse | Issue 30 : August - September 2018 11
Sembang Usahawan
Pada mulanya Batique hanya bermula
dengan produk seperti sejadah dan
kini berkembang dengan menghasilkan
cenderahati premium seperti sejadah
mini, surah Yasin untuk pasaran korporat
serta pakaian handmade eksklusif di
bawah label Batique Couture. Insya-
allah tahun depan kami bersedia untuk
membuat pengeluaran dalam jumlah yang
besar dan memasuki pasaran luar negara.
Butik kami terletak di Seksyen 17, Subang.
Apakah pencapaian terbesar syarikat anda
dan apakah aspirasi perniagaan anda di
masa akan datang?
dan kempen, pengiklanan, perkhidmatan Setelah 8 tahun berkecimpung dalam
publisiti dan pengurusan acara. Kami juga perkhidmatan perundingan, bzbee
menawarkan penyelesaian bersepadu akhirnya berjaya mendapat pengiktirafan
untuk identiti jenama, pendedahan media 4 bintang oleh SME Corp sebagai
dan imej perancangan untuk tujuan syarikat Bumiputera berprestasi tinggi
peribadi dan perniagaan. Antara aktiviti dan beberapa anugerah berprestij
yang dijalankan oleh syarikat kami adalah negara. Di sebalik kejayaan manis
kerja pengiklanan di media elektronik itu, baru-baru ini kami juga mendapat Bagi saya, kejayaan sebenar sesebuah
dan media cetak (termasuk akhbar pengiktirafan di luar negara apabila syarikat adalah bergantung kepada
dan majalah sama ada tempatan dan beberapa organisasi di Dubai dan London keutuhan nilai kekeluargaan dalam
luar negara), papan iklan, dokumentari, menggunakan perkhidmatan kami untuk organisasi sesebuah syarikat itu.
perunding dan penasihat komunikasi, membantu menubuhkan syarikat dan Keakraban dan kasih sayang antara
perhubungan awam, kerja reka bentuk mempromosikan produk baru mereka. kakitangan itu sangat penting. Prinsip
penerbitan dan percetakan seperti Saya juga berhasrat untuk menubuhkan saya adalah untuk sentiasa bersedekah
templat, laporan tahunan, katalog dan sebuah akademi komunikasi strategik dan selalu bawa kakitangan saya makan
sebagainya. yang akan menumpukan pembelajaran di luar. Bagi saya sesuatu pencapaian
komunikasi, pemasaran dan bidang itu bukan diukur berdasarkan kepada
Di sebalik kerjaya saya sebagai perunding berkaitan dalam tempoh lima tahun akan keuntungan syarikat dalam tempoh
komunikasi, saya juga sangat berminat datang. Saya mahu sebuah institusi yang sesuatu tahun tetapi apabila kakitangan
dengan karya seni batik. Saya memulakan fokus kepada pembelajaran komunikasi sanggup bersama-sama mengharungi liku-
Batique Sdn Bhd pada 2007 dan mula kerana saya lihat subjek ini sangat liku perniagaan yang mencabar. Kejayaan
bergiat aktif menghasilkan kraf tangan penting untuk semua bidang pekerjaan. sebenar syarikat adalah kerana komitmen,
dan fabrik premium daripada batik di Di akademi itu nanti saya bercadang dedikasi, kesetiaan dan kegigihan 100
bawah label batique pada 2014 dan kini untuk menggabungkan aspek akademik peratus mereka ke atas syarikat. Kini saya
cabang baharu itu semakin mendapat dan praktikal secara seiring di mana para berasa teruja mempunyai 40 kakitangan
perhatian masyarakat. Batik adalah minat pelajarnya pula terbuka kepada dalam dan dan sudah mula melebarkan portfolio
saya. Ia merupakan impian saya dari kecil luar negara. pelanggan kami di kalangan syarikat GLC.
untuk bawa batik Malaysia ke mata dunia.
Membesar dalam
lingkungan adik
beradik yang ramai
juga menyebabkan
saya dididik untuk
berdikari dan berusaha
sendiri dalam
menentukan masa
depan saya sendiri.
Issue 30 : August - September 2018 | BizPulse12 BizPulse | Issue 30 : August - September 2018
Knowledge Spa
Competing Against Luck :
The Story Of Innovation And Customer Choice
F
Reviewed by Nursyafiqah Mohd Rafee
or many companies, innovation is job their customer is hiring their product
still hit or miss.They spend millions or service to do, they can see far beyond
compiling the data to figure out existing solutions and customers. Look at
what their customers want, but companies like Amazon, Uber, and Airbnb,
they often achieve only modest who don’t just jump on fleeting trends
incremental innovations while completely or roll out another new flavour to boost
missing the mark on the breakthrough sales. “They were conceived, developed,
innovations critical to long-term sustainable and launched into the market with a clear
growth. understanding of how these products would
help consumers make the progress they
In Competing Against Luck: The Story were struggling to achieve.”
of Innovation and Customer Choice, the
authors offer a game-changing look at The book explores how innovators can use
how companies can develop and market jobs to be done to:
products and services that customers • Transform how you define what
actually want and need. The answer, business you are in and who your
they say, can be found in the “jobs to be competitors are
done” theory of innovation. This approach • Provide clarity into why customers hire,
Author : Clayton M. Christensen
provides a powerful way to understand the and why they fire, products
Taddy Hall
causal mechanism of customer behaviour, • Open up new avenues for growth by
Karen Dillon
and that’s the most fundamental driver of identifying opportunities to create
David Duncan
innovation success. powerful new solutions for your
Pages : 288 pages customers
Publisher : HarperBusiness Jobs to be done is based on this insight: • Transform your market research efforts
When we buy a product, we essentially “hire” by helping you to understand not
it to make progress and get a job done. If it only current customers but also non-
does the job well, we hire that same product consumers
again. If the product does a crummy job, we • Build a culture that’s unified around a
“fire” it and look around for something else. customer-centric mission
When companies truly understand what
Nursyafiqah Mohd Rafee is an Associate at the Centre for Entrepreneur Development and Research (CEDAR), a wholly owned subsidiary of the SME Bank Malaysia.
She can be reached at nursyafiqah.rafee@smebank.com.my.
ENTREPRENEURS’ EVENT CALENDAR 2018
HYPERNET OF THINGS 2018: IFN INVESTORS
1 THE PINK ECONOMY 13-14 IOT APPLICATIONS 14 FORUM 2018
Nov CONFERENCE Nov & TECHNOLOGIES Nov
Venue: Venue: Venue:
SME Corp, Kuala Lumpur MITI, Kuala Lumpur Le Meredien, Kuala Lumpur
The Pink Economy Conference is dedicated to This timely event aims to address the low Launched in April 2015, IFN Investor Forum
empowering the country’s SMEs, particularly awareness on the importance of IoT, not only is has been widely embraced by the industry
the female entrepreneurs. Its sole objective it a critical link to complete the country’s Digital to great success as the platform to discuss
is to motivate, inspire, guide, and support Transformation, but also inspires and drives and debate all things related to Islamic
women-owned businesses, both start-ups and innovations, and creativity among the youths. investments. Covering all aspects of Shariah
small SMEs. The conference was conceived Whilst captains of the industries, C-suites investments across a variety of sectors, asset
to highlight important topics while creating a and enterprises will benefit from insights on classes and markets, IFN Investor Forum 2018
female community that fosters sharing and strategic IoT applications and the enormous will focus on the biggest opportunities, latest
networking. cost savings, productivity and benefits from developments and trends as well as potential
deployment of IoT technologies. issues that may arise as far as Islamic
investments are concerned.
BizPulse | Issue 30 : August - September 2018You can also read
