A Monthly Bulletin for Entrepreneurs
Issue 29
July - August 2018
Complimentary Copy
INSIDE THIS ISSUE
COVER STORY
Transitioning From GST To
SST. How Will This Affect
Businesses?
M
alaysia’s decision to abolish
the Goods and Services Tax
(GST) and to revert to the
Sales and Service Tax (SST)
will result in higher disposable
income due to the lower prices that will
be imposed on most goods and services.
The rakyat will have the option in their
consumption, that is, by paying service taxes
based on their ability and affordability.
The previous GST covered too broad
a sector. Although it did raise a total of
RM44 billion in cash for the country, it is not
people-friendly. The SST’s narrowing scope
is targeted to collect around RM23 billion
for the country, but it will provide relief to the
rakyat.
Differences between SST and GST
The Sales Tax Bill and the Service Tax Bill
have just been approved at the Dewan
Rakyat and are expected to get approval
from the Dewan Negara on 20 August.
This leaves little space for businesses and
entrepreneurs to get ready for the new tax
regime in less than a month.
Comparison of GST and SST
It is therefore important to understand
the concepts and mechanisms of SST
as described in both Bills. SST consists
of two laws. Sales tax is levied on the
manufacturing sector which is governed by
the Sales Tax Act 2018 while service tax is
imposed on selected service sectors, with
one of the most notable is F & B service
providers.
The Service Tax Act 2018 will regulate
selected service providers and the details
will be gazetted in subsidiary legislation, PU
(A) 2018 Service Tax Regulations.
Finance Minister, Lim Guan Eng, has
announced that the threshold for F & B
providers is set at an annual turnover of
RM1 million. This means those who operate
with revenue of less than RM1 million will
not charge a 6% service tax.
This covers food vendours, cafes, food
counters or food trucks that can provide F&B
at a lower price than the 6% GST regime.
Consumers are deemed to be given the
option to pay service tax or not, depending
on their patronage in places such as fast
food, restaurants or food courts. Generally,
the cost of living will be lower in the SST era
as the B40 group will be relieved in their daily
food budget.
The previous GST system set a
threshold of RM500,000 per year, which
means that almost all restaurants, including
simple mixed rice shops, will have a GST
of 6% charged. The SST tax regime will not
charge a service tax of 6% on the service
charge provided by any restaurant operator
or cafe.
Service charge in the real essence,
representing tips or rewards to the waiters
working in the restaurant and it is entirely at
the discretion of the F&B operators. These
food operators can choose to charge from
5% to 15% or even nil. In short, in the event
of service charge is rendered, it will not be
subject to service tax.
SST is people-friendly because the
daily consumption of food and drinks will
be lower in price compared to the GST
system. The imposition of service charges
is not regulated by any law and is entirely
at the discretion of F&B operators. To avoid
disputes, it is advisable that notices be
placed outside premises if F&B operators
do impose service charges with rates as
determined by them.
ANALYSIS:
Air Freight Market In Malaysia Page 3
POINT-OF-SALE:
5 Ways On How To Grow Your Brand Using
Instagram Page 4
URUS BESTARI:
5 Tip Menghadapi Fasa Awal Perniagaan
Page 5
BUSINESS ALERT Page 6-7
PERSPECTIVE
The Reintroduction Of SST Page 8
PENGURUSAN SUMBER MANUSIA
5 Essentials Every SME Human Resource
Leader Should Have Page 9
SEMBANG USAHAWAN:
Fahmi Fairuz Page 10-11
KNOWLEDGE SPA:
Reinvent Your Business Model Page 12
ENTREPRENEURS’ EVENT CALENDAR
Page 12
continue on page 2
Download our mobile apps at www.smebank.com.my
2
Advisor
Aria Putera Ismail
Chief Executive Officer
Editor
Norhisham Hamzah
Contributors
Khairil Anuar Mohammad Anuar
Wan Zainuddin Wan Muda
Rusydan Hamedy Rusli
Nursyafiqah Mohd Rafee
Design & Layout
Haja Sharoni Shah
Rafiq Asyraf
Published By
Small Medium Enterprise
Development Bank
Malaysia Berhad (49572-H)
Menara SME Bank
Jalan Sultan Ismail
50250 Kuala Lumpur
Wilayah Persekutuan
Tel: +603 2615 2020
Fax: +603 2698 1748
Customer Service Centre:
+603-2603 7700
www.smebank.com.my
Project Management
Centre For Entrepreneur
Development And Research
Sdn Bhd (CEDAR) (1042601-M)
Level 6, Menara SME Bank
Jalan Sultan Ismail
50250 Kuala Lumpur
Tel: +603 2615 2063
Fax: +603 2692 5916
www.cedar.my
DISCLAIMER
The views and opinions expressed
throughout this newsletter are those of the
authors and do not necessarily reflect the
official position and views of the SME Bank.
Copyright © Small Medium Enterprise
Development Bank Malaysia Berhad.
All rights reserved. This publication is not to
be reproduced in part or whole without the
express permission of the copyright holders.
Materials on this publication are protected by
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or distribution of copyright materials, or any
portion of it, may result in severe civil and
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the maximum extent possible under the law.
SME Bank Group of Companies
BizPulse | Issue 29 : July - August
Cover Story
continue from page 1
Concept
Pricing method
Rates
GST
SST
Value added and multi-staged tax
Only charged once, i.e., during
output stage only
Price inclusive of GST
Price exclusive of SST, as it
operates as an add on to selling
price
6%
Multiple rates covering different
categories of goods and services
Advantages
• Not cost to business (input
tax available upon tax invoice
received)
• Business friendly
• Simple and straight forward
• No refund issues to business
operators
• Focused and narrow scope
• People-friendly
Disadvantages
• Wide coverage and
comprehensive
• Refund is an issue of
consideration for GST
registration
• GST is imposed eventually on
price sold to customer despite
having input tax credit, resulting
in surging prices
• SST is a business cost
• Deduction is based on sales
(matching principles)
SST Is Single Level
Sales tax is only charged once on the
manufacturing company when the sale is made
to the trading company. Further sales of goods
by trading companies will not be subject to sales
tax. Entrepreneurs must be cautious and careful
in managing costs such as Sales Tax - even at
10% - will ultimately produce lower priced items
compared to the GST regime.
GST operates on a value-added concept with
input tax available as deduction. The supply chain
moving from the producer to distributors, traders
and to consumers will result in higher prices
when GST was imposed on the final stage, which
consists of value add and profit margins.
SST Is A Business Cost
Under the GST system, input tax is available as
credit or deduction on output tax based on tax
invoices received from GST registration suppliers.
This means that GST has never been a business
cost because deductions are available from
the output tax even if no sales are generated.
On the other hand, Sales Tax will be paid by a
trading company who purchases goods from a
manufacturing company.
It is a business cost and deductions are only
available when there is a sale. This means that
business costs will be higher because Sales Tax
is part of the cost of the inventory and will be
deducted as a selling cost when goods are sold
or exported. In short, no sales, no deductions.
Businessmen are advised to review costs
carefully and not sell at too high price for
the benefit of the rakyat and their business
sustainability. The reduction of GST from 6%
to nil will immediately translate the 6% price
reduction, which is a must for businesses to
comply.
Failure to comply with the pricing
will expose operators to penalties on antiprofiteering governed by Price Control and AntiProfiteering Act 2011. SST is most appropriate
in the Malaysian environment: the business
community and the rakyat.
BizPulse | Issue 29 : July - August 2018
ANALYSIS
Air Freight Market
In Malaysia
LATEST UPDATES:
by CEDAR Research Team
A
lthough air freight traditionally
benefits from low base effects,
Malaysia’s air freight sector is
well developed, meaning that
growth opportunities are few and
far between in the country. The air freight in
Malaysia is expected to register relatively
muted annual growth over the short and
medium term (under 1.2%) as capacity
issues limit growth opportunities. On the
plus side, lower fuel costs and increased
tourist numbers are supporting growth in
the sector.
Consumer spending in Malaysia will
benefit from a youthful and increasingly
urbanised population, rising household
incomes and low levels of unemployment.
Relatively low inflation and a growing
middle class will help generate demand for
nonessential items and luxury goods. The
country is also experiencing a shift in retail
formats, with the government supporting
the development of ‘big-box boulevards’ concentrated centres of shopping outlets
on the outskirts of cities. This is helping
to attract retailers, both domestic and
international, who are keen to capitalise on
the forecast rise in household spending in
the retail sectors.
Malaysia’s air freight sector is set to
register y-o-y growth of 1.2% in 2018, similar
to the level of growth seen in 2017. This
scenario will see tonnage handled come
in at 2.8mn tonnes. Low base effects are
currently not proving enough of a factor
to compensate for the fact that the small
amount of cargo space available in plane’s
bellyholds limits the total amount of
tonnage that can be handled. Malaysia’s
primary international gateway is Kuala
Lumpur International Airport (KLIA), with
secondary hubs being Kota Kinabalu
International Airport, Penang International
Airport, Kuching International Airport,
Langkawi International Airport and Senai
International Airport. Demand for low-cost
airports is especially prevalent in Malaysia.
The country is separated into two parts by
the South China Sea, making low-cost air
travel the most practical way of travelling
between them.
Malaysia’s consumer electronics
market is undergoing a transition, as the
growth engine switches to the increase in
higher value sales, while volume growth is
playing a smaller role due to approaching
saturation and diminished potential in
categories such as PCs, flat-panel TV sets
and smartphones. Vendors will therefore
benefit from ringgit appreciation and
purchasing power growth forecast for 20182021.
Malaysia has a large and externally
oriented consumer electronics industry,
and consequently trade flows are high
value in per capita terms. The industry is
centred on packaging and the assembly
of semiconductors, and inward investment
remained solid through to 2016, but the
device assembly and manufacturing
industry is in decline due to a squeeze
from lower-cost locations such as China
and Vietnam. Total consumer electronics
spending - including PCs and peripherals,
TV sets, digital cameras and camcorders,
audio devices and mobile handsets - is
forecast to increase by 6.5% in 2018 to
reach almost USD5.2bn, thus providing
support for Malaysia’s air freight sector. A
stronger growth than in 2017 is expected,
in part because of the ringgit forecast
after depreciation 2014-2017, but also due
Slow But Steady Growth Ahead
Malaysian Air Freight Tonnage
1,500
20
10
1,000
0
500
-10
Malaysia - Air Freight Tonnes (000) (LHS)
Malaysia - Air Freight Tonnes % y-o-y (RHS)
Source: Department of Statistics Malaysia, BMI
2020f
2019f
2018f
2017e
2016e
2015e
2014e
2013
2012
2011
2010
2009
2008
2007
2006
-20
2005
0
• Malaysia is seeking to enhance
connectivity with Cambodia in the
coming years, specifically in terms of air
travel, according to the country’s deputy
transport minister Datuk Aziz Kaprawi,
Khmer Times reported in January 2018.
The new Bassaka Air flight, which
connects Phnom Penh and Kuala Lumpur,
was launched on January 31 2018.
• Netherlands-based
CEVA
Logistics
has expanded its footprint in Malaysia,
opening up a new 70,000 square metre
multi-user warehouse in the Bayan Lepas
Free Industrial Zone Phase IV Penang.
The warehouse is just a 10-minute drive
away from both Penang International
Airport (PEN) and the Penang bridge,
which connects the island to mainland
Malaysia. The new facility will provide
temperature-controlled and ambienttemperature storage space, as well
as ‘advanced equipment for materials
handling, an advanced radio frequency
(RF) warehouse management system, onsite customs and modern office space’.
• DHL Express has recently launched its
inaugural passenger-to-freighter (P2F)
Airbus 330-300, serving the fast-growing
markets of Malaysia, Vietnam and Hong
Kong, STAT Times reported in March
2018. Freight capacity will increase by
33% per flight on the new service.
to more supportive product trends in the
computer and AV segments.
Pharmaceuticals is another sector of
interest to air freight as this mode is key in
transporting drugs to and from Malaysia.
The Malaysian government will remain firmly
committed to improving healthcare quality
and access across the country as part of
the 11th Malaysia Plan. In recent years,
the healthcare sector has seen increased
government expenditure, with an increase
in medical facilities and higher-quality
treatments. The Malaysian healthcare
sector will experience robust growth driven
by the country’s concerted effort to improve
the health and wellbeing of its population.
In 2017, healthcare expenditure in Malaysia
was valued at MYR60.12bn (USD14.15bn)
and is expected to grow by 9.6% in 2018 to
reach MYR65.90bn (USD16.47bn).
Greater accessibility to healthcare
services in Malaysia and guarantees of
greater public funds towards healthcare
mean that medicine sales are highly likely
to experience a tailwind, thus underpinning
air freight growth, with the mode key to
their transportation. However, we note that
innovative drug makers will continue to
struggle due to the country’s challenging
regulatory environment. In addition, with
an expansion of access to healthcare
services, we anticipate a greater generic
substitution rhetoric as rationalisation of
the pharmaceutical budget becomes more
important.
Issue 29 : July - August 2018 | BizPulse
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4
BizPulse | Issue 29 : July - August 2018
POINT-OF-SALE
5 Ways
On How To Grow
Your Brand Using
Instagram
by CEDAR Research Team
It’s no secret that your business needs to be active on Instagram -- with
more than 500 million users, it’s a social network that provides a great
marketing platform to reach potential customers from every corner
of the world. In order to improve your Instagram marketing, you need
to increase your following on a steady and consistent basis. After all,
the more people that come in contact with your brand and follow you
on Instagram, the larger your audience that you can potentially reach
every time you post. Here are five easy steps to implement Instagram
marketing tips that will help you grow your brand -- for free:
Take Advantage Of Free Instagram Tools
Instagram just started to roll out business
profiles, which heavily mirrors Facebook’s
business profiles, complete with a huge
“contact’ call-to-action, allowing users to
email, call or text the business. Along with
the contact option, business profiles have
access to analytics, or as they call them,
Insights, giving users access to impression
and engagement data. If you use your
Instagram account for your business, you
might want to consider converting your
personal profile to a business profile in
order to take advantage of these options.
The more you understand about how your
users are interacting with your content,
the better you can make adjustments to
improve your engagement.
Cross Promote Instagram Posts
Want to easily add new Instagram
followers that already love your brand?
Post across all over your other social
media profiles -- Facebook, Twitter,
LinkedIn, etc. -- and invite them to follow
your Instagram profile. They are already
following you on social media, so they
are obviously interested in what you offer,
so give them another way to socially
BizPulse | Issue 29 : July - August
connect to your brand. Don’t assume
that your posts will reach everyone that’s
connected to your brand on social media.
Many people move away from certain
social media platforms and some aren’t as
active on some platforms as they are on
other networks. You want your followers
to be connected to as many of your social
profiles as possible to increase your reach
per post.
Don’t Overwhelm Your Audience
You want to post often enough that your
brand stays relevant, but at the same time
you don’t want to post so frequently that
you overwhelm your followers and they
end up unfollowing your account because
they feel you are constantly in their face.
There isn’t a magic posting formula that
will work for every brand. You need to test
and see how your audience responds. As
a starting point, I would suggest posting
twice daily, alternating times of the day to
find out when your highest engagement
occurs. Then start to experiment with
more and less posts per day, really paying
attention to engagement. Once you find
your sweet spot, the work doesn’t stop -as your following increases you will have
to adjust. Post frequency optimization is a
never ending task.
Interact With Followers To Spark Growth
If someone takes the time to leave a
comment on one of your posts, take two
seconds to reply and thank them. That
simple engagement can create a loyal
customer as well as a raving promoter
of your brand. Also, incorporate ways to
get your followers to interact with your
posts. A simple, “Tag three of your friends
that would love this” can quickly put your
brand in front of a larger audience as well
as attract new followers. Since they are
being introduced to your Instagram profile
through a friend, there is less resistance,
resulting in many of the tagged users
following your profile.
Create An Interactive Hashtag
Creating an interactive hashtag is a
great way to create instant engagement
-- just make sure you are using hashtags
the correct way. A very simple strategy I
have used for some of the larger brands
I consult for is creating a hashtag that
customers use to tag photos of them
with the product that they just purchased.
For example, creating a hashtag that
your company can search for to re-post
the pictures of your customers with your
product will accomplish two things:
It will cause more of your followers to use
the hashtag and post images of them with
your product because they will want to be
featured on your page
Every time someone posts using your
hashtag they are exposing all of their
followers to your company and product(s)
-- free advertising!
BizPulse | Issue 29 : July - August 2018
POINT-OF-SALE
URUS BESTARI
5 Tip Menghadapi Fasa
Awal Perniagaan
T
idak kira tua atau muda,
semuanya seronok memulakan
perniagaan pada zaman ini.
Namun dalam keseronokan,
ramai usahawan yang tersungkur
dalam dunia perniagaan kerana tiada
asas yang kukuh. Paling menyedihkan,
bila ada yang terhimpit dengan bebanan
hutang yang banyak. Tanpa ilmu, strategi
dan mentor, pasti kita akan sesat dalam
dunia perniagaan yang kita nampak
menyeronokan di luar sana. Berikut adalah
beberapa tips tentang bagaimana para
usahawan dapat melepasi fasa awal
yang penuh onak dan duri dalam dunia
perniagaan:
Pemasaran Secara Konsisten
Tujuan pemasaran adalah untuk
memberitahu sasaran pelanggan
dengan tepat tentang produk atau servis
yang kita ada. Lakukan secara konsisten,
tanpa henti setiap hari sehingga produk
atau servis kita diterima oleh sasaran
pelanggan. Pemasaran yang baik ialah
yang tidak menampakkan kita terlalu
menjual tetapi berkongsi sesuatu supaya
mereka dapat manfaat daripada kempen
pemasaran yang dijalankan. Sebelum
menjalankan aktiviti pemasaran, kenal
pasti terlebih dahulu sasaran pelanggan.
Kita perlu mengenal pasti avatar
pelanggan supaya kandungan pemasaran
dapat disampaikan dengan tepat ke
sasaran pelanggan sebenar dan dapat
mengoptimumkan kos kempen pemasaran
yang dijalankan.
Jaga Pelanggan Sedia Ada
Pemasaran
yang
berkesan
akan membuat pelanggan yang
disasarkan berminat untuk berurusan
dengan kita. Apabila sudah mendapat
pelanggan, kita mestilah menjaga mereka
dengan baik supaya mereka berpuas hati
dengan layanan kita. Itu akan mendorong
mereka untuk menjadi pelanggan setia.
Lebih kurang 7 daripada 10 pelanggan
akan berurusan buat kali kedua jika
mereka percaya, berpuas hati dan selesa
berurusan dengan kita. Kesannya, jualan
dapat ditingkatkan dan kos pemasaran
dapat dijimatkan. Selain itu, pemasaran
dari mulut ke mulut merupakan kaedah
pemasaran yang paling baik jika
pelanggan sedia ada berpuas hati dengan
servis yang kita berikan kepada mereka.
Asingkan Duit Bisnes Dan Duit
Peribadi
Jika anda masih menggunakan
akaun simpanan peribadi dan segala
sumber wang dalam akaun tersebut
bercampur, ia perlu diasingkan segera.
Sebahagian masalah peniaga bukan
disebabkan masalah jualan tidak rancak,
tetapi duit keuntungan dibelanjakan
di luar skop perniagaan dan tanpa
rekod yang terperinci. Bukalah akaun
simpanan semasa untuk tujuan transaksi
perniagaan syarikat di bank. Selain dapat
mengasingkan duit, kepercayaan dapat
oleh CEDAR Research Team
dibina kerana pelanggan akan berurusan
terus dengan akaun bank syarikat. Duit
yang diasingkan mestilah diuruskan
dengan betul supaya kita dapat aliran
tunai yang positif untuk simpanan peribadi
dan bisnes.
Letak Sasaran Dan Buat Jadual
Gerak Kerja
Setiap perjalanan akan lebih jelas
jika kita ada hala tuju yang jelas. Jadi,
letakkan sasaran yang jelas dalam bisnes.
Anda boleh mulakan dengan sasaran
sederhana agar kita tidak rasa tertekan
atau terbeban. Mula-mula, letak sasaran
pada 12 bulan dan pecahkan kepada tiga
bulan, satu bulan dan harian. Ia akan jadi
lebih spesifik dan kita pun jelas dengan
apa yang perlu dicapai. Pencapaian yang
besar datangnya daripada himpunan
kejayaan kecil yang diperolehi dalam
perjalanan perniagaan kita.
Ambil Risiko Yang Mampu Diserap
Dalam
apa-apa
keputusan
bisnes, usah “gatal tangan” atau
teruja dengan mengambil risiko yang
besar. Kita pasti akan terduduk kerana
dibebani hutang yang banyak. Sentiasa
mengambil risiko yang kecil sepanjang
masa sehingga kita menemui cara yang
betul. Pada masa yang sama, jangan
terlalu takut sehinggakan mengelak risiko
yang kecil.
Issue 29 : July - August 2018 | BizPulse
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BizPulse | Issue 29 : July - August 2018
BUSINESS ALERT
BUSINESS ALERT
by Corporate Planning , SME Bank Malaysia
OIL, GAS AND ENERGY
RECENT DEVELOPMENT
• Oil prices (Aug. 2018) – Crude fell after an
industry report showed an unexpected rise in
US crude stockpiles. Brent for September fell
by USD0.72 to USD74.25 a barrel.
• Petroliam Nasional Bhd (Petronas) has
launched a new vendor development scheme
under its existing Vendor Development
Program (VDP) to be implemented in
collaboration with major industry players in
the country. The scheme, called VDPx, is part
of its initiative to boost the capabilities of
local firms in Malaysia’s oil and gas industry.
Under the scheme, six petroleum arrangement
contractors (PACs) and 12 oil & gas service
and equipment (OGSE) companies, will
replicate Petronas’ VDP to reach out to more
local vendors and further amplify its benefits
to the industry as well as the nation.
OUTLOOK: NEUTRAL
• US Energy Information Administration
(EIA): Higher oil production from OPEC
and Russia in July 2018 will likely push
Brent prices toward USD70/bbl by the end
of the year as the market appears to be fairly
balanced in the coming months.
»» EIA sees Brent prices averaging
USD71.74/bbl in 2018 and USD70.58/bbl
in 2019. Whereas, it expects WTI prices
to average USD66.21/bbl in 2018 and
USD64.34/bbl in 2019.
»» The agency also trimmed its outlook for
US crude production to 10.68 million bpd
in 2018 and 11.7 million bpd in 2019, down
110,000 bpd and 100,000 bpd from last
month's outlook, respectively.
»» Even though EIA sees oil prices continuing
to moderate in the coming months, global
oil inventories are below five-year average
levels and OPEC spare capacity is low,
which could contribute to price volatility
and possible price increases if supply
disruptions occur.
HEALTHCARE
RECENT DEVELOPMENT
• High quality healthcare facilities offered by
private hospitals are the latest attraction
contributing to a rise in tourist arrivals
to Sarawak. Chief Minister of Sarawak
commented that there is an increase in
the number of tourists from neighboring
countries, especially from Kalimantan
(Indonesia), who come to seek treatment and
healthcare in private hospitals in the state.
With the high quality healthcare service
provided by the states private hospitals,
healthcare tourists to Sarawak would
continue to grow.
OUTLOOK: NEUTRAL
• BMI: Analysts have revised the
Malaysia medical devices forecast
upwards and now project that the
market will expand by a 2017-2022 CAGR of
8.4% in local currency terms which will take
the value to RM8.0 billion. The market will
benefit from an improved economic outlook,
increased government health funding in
2018, ongoing private sector expansion, and
growth of the health tourism industry. These
measures will support an uptick in medical
device spending, which will see lower double-
digit growth in 2018 and high single-digit
from 2019.
»» Exports on medical device had maintained
double-digit year-on-year growth between
2010 and 2017, with the exception of 2016
where they lost momentum and posted
single-digit growth.
»» In 2017, exports grew by 14.1% to RM9.8
billion. The 2012-2017 CAGR was 17.2%,
ranging from 25.6% for orthopaedics &
prosthetics to 13.4% for consumables.
OUTLOOK: NEUTRAL
• HongLeong Research: With the
‘zerorisation’ of GST in place between
1 June to 31 August 2018, the retail car prices
have been lowered by 6%, thus driving up car
sales volume in June 2018. However, sales
is expected to plunge post restatement of
SST on 1 September 2018, as the car prices
become slightly more expensive at 1%-3%,
stringent hire purchase loan requirements.
Nevertheless, analysts expect market to
normalize by end 2018, on the view that
the improved consumer sentiment and
rejuvenated
middle-income
household
segment.
• Airbus SE ~ Global Market Forecast 20182037:
»» The global demand for new aircraft over
the next two decades could rise by more
than 7% to as high as 37,400, as the world's
passenger fleet is expected to more than
double to 48,000 with traffic growing at a
resilient pace of 4.4% per year.
»» Growth
drivers
include
private
consumption increasing 2.4 times in
emerging economies, higher disposable
incomes and a near doubling of the
middle classes globally. It observed that
emerging countries will account for over
60% of economic growth, with trips per
capita to multiply 2.5 times for these
nations.
BUSINESS SERVICES
RECENT DEVELOPMENT
• Malaysian Automotive Association (MAA):
Total Industry Volume (TIV) in June 2018
surged tremendously at 64,500 units (+50.1%
MoM or +28.3% YoY). The huge jump was well
within expectations, given the tax holiday,
which began in June 2018, coupled with Hari
Raya promotional activities.
»» Year-to-date (YTD) TIV of 289,714 units
(+1.9% YoY) accounts for 49.1% of MAA’s
full-year forecast and is broadly within
expectations.
»» Despite
the
improving
consumer
sentiment and expected strong GDP
growth, the association reduced its fullyear TIV forecast to 585,000 units (+1.5%)
from 590,000 units (+2.3%), previously.
This is due to the stringent hire purchase
loan requirements and expected impact of
the reintroduction of SST.
BizPulse | Issue 29 : July - August
BizPulse | Issue 29 : July - August 2018
Business Alert
TOURISM
RECENT DEVELOPMENT
• MIER: Tourism Market Index (TMO) continued
to grow in the second quarter of 2018, but at
a slower rate. The index registered at 103.0
points from 106.9 points in the previous
quarter. The slight decline however, still
above the 100-point threshold and it showing
that the Malaysian tourism sector is still
competitive.
»» The Travel Agencies Index (TAI) recorded
a fall of 21.6 points from the previous
quarter. Meanwhile, the Hotel Operators
Index (HOI) rose to 108.8 points in the
second quarter, increasing by 5.2 points
from the prior quarter.
»» Slow performance due to slower readings
in the Current Index (CI) of both industries.
»» Looking forward into the 3Q2018, the EI in
both hotel industries and travel agencies
from the second quarter survey result has
indicated a rebound in tourism activities
in the coming months.
OUTLOOK: POSITIVE
• The government is optimistic
of
continued
positive
industry
performance in 2018 and expects a growth
of 6.5% to 7.0%, which will see Malaysia
surpassing the 100 million passenger mark
for the first time.
»» The year 2017 was a year of strong
industry performance compared with
2016, as Malaysia’s passenger traffic
recorded an 8.1% YoY growth or 99.1
million international and domestic
passengers.
»» Asia has been and will continue to be the
principal region of focus for Malaysia’s
connectivity, as 59.8% of air traffic rights
awarded to Malaysian carriers in 2017 are
for routes to Asean, China and India.
COMMUNICATIONS CONTENT AND INFRASTRUCTURE
RECENT DEVELOPMENT
• iPay88 Holding Sdn Bhd, an online payment
services and solutions provider, expects
to exceed its projected growth of 200% in
online transactions on its payment gateway
systems this year. This will be driven by rapid
online to offline growth through growing
usage of e-wallet and quick response
(QR) code.
»» This year, the driver for mobile commerce
(m-commerce) will be the trend for
more creative mobile applications being
launched for online shoppers, with
combine location services, retail customer
intelligence, payment solutions and social
media experience.
»» In 2017, iPay88 recorded a total of 58.5
million online transactions moving over
its payment gateway systems, increasing
by 53.1% from 2016. Total sales of the
2017 online transactions amounted to a
whopping RM6.6 billion, more than double
from RM3 billion in 2016.
OUTLOOK: NEUTRAL
• BMI: Steady growth in international
arrivals, not only from regional states
but also from a wider range of global source
markets is attracting major developers across
a range of sectors including the hotel market,
transport infrastructure and leisure facilities
and healthy growth is expected in the tourism
industry over the coming years.
»» Malaysia's hotel segment is attracting
new major foreign investments which due
to open over the coming months include
W, Hyatt, Banyan Tree and Travelodge.
»» Popular travel operator TUI Group has
announced plans to launch a cruise
holiday program in Malaysia - flights
will depart from Gatwick, Manchester
and Birmingham in the United Kingdom
to Langkawi where passengers will
embark on a 14-days cruise to Malaysian
destinations such as Penang and Melaka.
WHOLESALE AND RETAIL
RECENT DEVELOPMENT
• MIER: After stagnating in a contraction mode
for two quarters, the Retail Trade Index (RTI)
reached the 100-point threshold to settle
higher at 117.8 points in 2Q2018 from 69.8
points the previous quarter. Heightened
consumer spending due to higher disposable
income available (tax holiday), may have
shored up retail spending in the 2Q2018.
There were improvements in both the subindices, Current Performance Index (CI) and
the Expected Performance Index (EI).
»» The CI settled at 59.3 points in 2Q2018, up
27 points from 32.3 points in the previous
quarter. The CI readings indicate that
sales were brisk for this quarter.
»» Meanwhile, the EI settled at 58.5 points
up from 37.5 points it registered on the
previous quarter. The expected business
conditions component of EI gained
58.5 points while the expected sales
volume component of EI softened by
16.5 points. Looking ahead in 3Q2018,
retailers maintained a sanguine outlook,
as indicated by the marked improvement
in the EI reading.
»» Consumer spending is expected to
improve due to a higher level of disposable
income (due to GST removal). Overall,
better market conditions and business
expected ahead.
OUTLOOK: NEUTRAL
• Knight Frank Malaysia ~ “Real
Estate Highlights 1st Half of 2018
Report”: There are 11 new shopping centers
and supporting retail components that are
expected to enter the Klang Valley retail
market by 2H2018. With a combined retail
space of around 6.6 million square foot,
namely a few, The Linc, Kiara 163, Eko Cheras
Mall, Pinnacle, Empire City Damansara Mall,
Skypark @ Cyberjaya, Central i-City Shopping
Centre and others.
»» Looking ahead, the real estate consultant
expects the retail market to show clear
signs of recovery in 2019 if the economy
performs well in 2H2018.
»» The company also is not in the view that
e-commerce will disrupt the retail and
shopping mall industry as e-commerce
will not be able to offer experiential
shopping to consumers like how shopping
malls do. This is why mall operators
should invest more into entertainment and
service-related trades, which will enhance
consumers’
experiential
shopping
experience.
Issue 29 : July - August 2018 | BizPulse
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BizPulse | Issue 29 : July - August 2018
PERSPECTIVE
The Reintroduction
Of SST
By Corporate Planning
T
he government will reintroduce
the sales and services tax (SST)
on September 1 in replace of
the goods and services tax
(GST) which has been zero-rated
from June 1 until 31 August 2018. The
reintroduction of the SST will see its rate
set at between 5% to 10%. Before the 6%
GST implemented in 2015, Malaysia levied
a Sales Tax and a Service Tax. Governed
by the Sales Tax Act 2018 and the Service
Tax Act 2018, the Sales Tax was a federal
consumption tax imposed on a wide variety
of goods while the Service Tax was levied
on customers who consumed certain
taxable services. Special designated areas
that include Langkawi Island, Tioman
Island and Labuan Island are exempted
from the Service Tax.
The SST is a single stage of
consumption tax while GST is a multistage of consumption tax on goods and
services that were levied at every stage of
the supply chain. Under the SST tax regime,
the range of taxable items and exemptions
is lesser if compared with the GST’s tax
regime. Unlike SST, the 6% GST applies
equally on every stage of supply chain,
from the supplier, manufacturer, wholesaler
and to the retailer.
Key Takeaways:
•
The SST is levied at the consumer end
while the GST is paid by all companies.
•
The SST is payable when consuming
good while GST is payable on every
transaction
between
companies
before reaching the end consumer.
•
The Sales Tax will only be imposed
on the manufacturer or consumer
level, while the Service Tax is taxed on
consumers that are using tax services.
•
The GST, which stands at a flat rate
of 6%, while the SST rates vary from
5-10% to specific rates.
•
The GST covers everyone, while the
sales tax only covers manufacturers
and services tax covers certain
prescribed services like professional
services.
Expected impacts of the implementation
of SST:
Government:
While SST will cause the government a tax
revenue drop, estimated at RM25 billion,
SST is seen as a less progressive form
of tax and many countries have moved
on to GST. Experts have said that prices
should come down but there could be a
mixed impact from the reintroduction. The
sales tax is based on the manufacturing
cost or import cost, while the service tax
could cover a wider range of services,
therefore a higher price or charges for
services rendered on the whole. In 2017,
the government collected RM44.3 billion
in GST, equivalent to 3.3% of the country’s
gross domestic product. In order to cover
for the revenue loss, the government plan
to introduce new taxes on carbonated
drinks, curb and review mega projects such
as ECRL, Pan Borneo and others and other
alternatives to be implemented. Stable
commodities prices for example the crude
oil at around USD$65 to USD$75 per barrel
would also help the government lessen the
impact of the narrow tax base after SST
been implemented.
Household:
The important question for household
is whether the prices of goods drop of
increase? The answer to this debate isn’t
so straightforward, as it all depends on a
number of factors such as:
•
How many levels there are in the
product supply chain between
manufacturer and consumer.
•
Different products and services are
affected differently; top-up cards, cars,
mobile phones food items.
•
Prevailing
tax
exemptions
for
businesses.
By looking at the proposed sales tax rates
for various goods by Royal Malaysian
Custom Department, food and household
items would affect consumers the most as
most of it are commonly used by the lowincome and middle-income households.
But, the SST will put more spending power
in the hands of the consumers. The lesser
collection compared with the former GST
will be flowing back to the society. Judging
from the feedback from consumer and
industry association, they feel the SST will
have lower impact than the GST.
Business:
Businesses are profit maximising entities.
Unscrupulous businesses could exploit the
move to roll back to SST by profiteering
without taking into account the actual rise,
or even reduction, in input costs. It will
also punish businesses that have already
invested hundreds of thousands of ringgit
in switching to the GST system since 2015.
Source: The Star, NST, 3ECPA, The Edge, Compare Hero,
Royal Malaysian Custom Department and MIDF Research
BizPulse | Issue 29 : July - August
BizPulse | Issue 29 : July - August 2018
PENGURUSAN SUMBER MANUSIA
5 Essentials Every SME Human
Resource Leader Should Have
By Wan Zainuddin Wan Muda
To be an effective business leader it is important to understand the broad operations and processes that drive commerce
and create growth. However, to be a successful Human Resource leader, it is not only critical to understand the basic
principles of business best practices, it is also important to be proactive and strategically develop your influence over your
organization. Here are the five standout traits that today’s influential Human Resource leaders all have in common:
Never Stop Learning
Deepening your knowledge of the
expanding field of human resources
will help you to better manage, support, and
lead your HR team. Putting this knowledge
into practice can serve to encourage growth
and development of not only your HR staff
but also of the larger workforce. Pursuit
of life-long learning through an advanced
degree and professional certification is
necessary to build and refine your HR
knowledge. Successful HR leaders display
a thirst for understanding the benefits
of new HR research outcomes and stay
connected to current trends in the HR field.
By incorporating your knowledge of best HR
practices into your daily life, you can more
effectively support your organization’s
strategic goals and direction.
Communicate Effectively
Clear, effective messages can
boost morale, increase loyalty
and even save the organization money.
Organizations that are highly effective
in their communication practices are
more than twice as likely to significantly
outperform peers that are not. Many
opportunities exist for you as a human
resources leader to develop and
demonstrate your communication skills.
For example, strong writing skills lead to
clearly understood policies and procedures
that drive organizational results. Similarly,
with outstanding verbal communication
skills you can help your workforce to
understand better their roles in driving
organizational results and motivate them
toward peak performance.
Practice Values-Based and Ethical
Behaviour
In today’s highly competitive work
environments, the pressure to succeed both
personally and professionally is a powerful
force. You can demonstrate your personal
commitment to maintaining an ethical
workplace in two important ways. First,
lead by example and consistently adhere
to the code of ethical behaviour of the HR
profession. Second, using the HR code
of ethical behaviour as your guide, take
the lead in advancing your organization’s
espoused values to all employees. Because
HR professionals often lead the process
for fair and equitable treatment of all
organizational members, you are uniquely
positioned to help build a community of
employees who will want to internalize and
demonstrate your organization’s values
and ethical behaviours.
Think Strategically and Act
Accordingly
It is tempting for HR professionals
to focus their efforts narrowly on building
the most productive HR function within
their organizations. On the surface
this concentration seems to make
sense. Today, however, CEOs expect HR
professionals to demonstrate more than
just HR expertise. They expect their HR
professionals to be key partners who help
drive their organization’s overall business
strategies. To do so, HR professionals need
to think strategically, connecting a robust
HR function with an in-depth knowledge of
their organization’s core business issues
and aspirations.
Mind Your Metrics
HR professionals have long
recognized the value of developing
outstanding practices that attract,
leverage, and retain the best employees for
their organizations. Determining the value
of those practices on the organization’s
bottom line requires HR professionals to
be able to understand and use metrics and
key business statistics. From determining
employee turnover rates to preparing
a cost/benefit analysis for offering a
wellness program to calculating the
return on investment (ROI) of an employee
suggestion program, metrics matter!
Wan Zainuddin Wan Muda is the Director of Group
Human Capital Management, SME Bank Malaysia. He
can be reached at wanzainuddin@smebank.com.my.
Issue 29 : July - August 2018 | BizPulse
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BizPulse | Issue 29 : July - August 2018
URUS
SEMBANG
BESTARI
USAHAWAN
Apakah yang mendorong anda untuk
menubuhkan perniagaan ini?
Temubual oleh Nursyafiqah Mohd Rafee
SEMBANG USAHAWAN bersama
Fahmi Fairuz
Ketua Pegawai Operasi & Pengasas
Nama Syarikat
KITAMEN Resources Sdn Bhd
Bidang Perniagaan
Jenama ‘lifestyle’ e-sukan
Alamat Perniagaan
Kitamen Resources Sdn Bhd
Suite A-3A-06 One South Street Mall
Serdang Perdana
43300 Seri Kembangan, Selangor
Telefon
011-1607 3433
010-375 1611
Email
dojo@kitamen.my
Web
https://www.kitamen.my
S
emuanya bermula daripada hobinya yang gemar bermain permainan video
sedari kecil lagi sehinggakan ada yang menggelarnya ‘Mat Gamer’. Ramai
yang beranggapan hobi bermain permainan video ini tidak mendatangkan
faedah apatah lagi jika kerap berulang alik dan menjadikan kafe siber sebagai
rumah keduanya. Namun, itu bukan penghalang kepada Fahmi Fairuz untuk
meneruskan hobinya dalam permainan video, malah menjadikan hobinya itu sebagai satu
kerjaya sehingga dia menubuhkan syarikat sendiri; Kitamen Resources Sdn Bhd (Kitamen).
Semuanya bermula daripada dorongan keluarga dan rakan yang menyarankan agar
dia serius menjadikan permainan video sebagai platform kerjayanya. Bertitik tolak dari situ,
Fahmi bersama rakannya, Hazman Hassan, yang kini bertindak sebagai Ketua Pegawai
Eksekutif Kitamen mula mengorak langkah menubuhkan Kitamen yang kini dikenali sebagai
pusat sehenti peminat e-sports.
Fahmi Fairuz telah berkongsi pengalaman, pengetahuan dan pendapat beliau dalam
dunia keusahawanan dengan BizPulse.
Sumber: Facebook Kitamen
BizPulse | Issue 29 : July - August
Landskap permainan video telah banyak
berubah dari waktu dirinya berusia tujuh
tahun ketika dia diperkenalkan dengan
permainan Sega Mega Drive 2. Tiga
tahun yang lalu, pasaran eSports sudah
mula popular di seluruh dunia. Walau
bagaimanapun, di Malaysia, kami nampak
potensi untuk membangunkan lagi eSports.
Pada masa itu, pertandingan di Malaysia
masih di tahap yang minima. Permainan
Fifa, misalnya, diadakan sekitar lima kali
setahun. Sekarang, anda boleh lihat lebih
daripada 10 pertandingan setiap minggu.
Kami bermula dengan wang simpanan
dan sedikit bantuan keluarga sebanyak
RM2,000 sahaja untuk membuka syarikat
ini. Pada mulanya kami hanya menumpukan
kepada acara berkaitan e-sukan tapi ketika
itu situasi agak suram. Bagaimanapun,
kami kekurangan penaja, peserta dan
acara juga tidak dapat sambutan daripada
penonton, selain kemudahan e-sukan yang
tidak mencukupi. Selepas itu, kami mula
menjual jenama Kitamen sendiri. Kami buat
kumpulan dan menyertai pertandingan
e-sports tidak kiralah dalam atau luar
negara dan menjadikan Kitamen Resources
sebagai jenama dalam e-sports.
Apabila jenama Kitamen mula dikenali
dalam kalangan komuniti peminat e-sukan,
saya mula mencari rakan niaga untuk
bekerjasama dengannya membuka pusat
sehenti permainan video. Fahmi ingin
mengubah persepsi mengenai kafe siber
dengan menjadikan pusat sehentinya ini
mesra pengguna, tidak kiralah kepada
kanak-kanak hingga ke golongan dewasa.
Pusat sehenti pertama Kitamen adalah di
Kuala Terengganu hasil kerjasama seorang
rakan niaganya yang mengeluarkan modal.
Apakah cabaran yang dihadapi anda untuk
menubuhkan perniagaan ini dan bolehkah
anda ceritakan secara ringkas tentang
perniagaan anda?
Apabila Kitamen ditubuhkan, e-sports
dihidupkan semula di sini. Sepuluh
tahun yang lalu, e-sports agak terkenal di
Malaysia. Walau bagaimanapun, ketika
itu, kemudahan infrastruktur belum cukup
bersedia untuk landskap e-sport. Kita
memerlukan Internet yang cepat, mesin
yang baik, tempat yang kondusif dan lainlain. Jadi, apabila kami memulakan langkah,
kami fikir e-sports adalah saluran yang baik
to promote the positivity of video gaming
itself. Daripada hanya bermain permainan
video untuk membuang masa anda, anda
boleh datang ke sini, tubuhkan komuniti
dan bersaing dalam permainan. Itulah
permainan yang lebih sihat dan lebih positif.
Kami membuka kedai pertama kami
- atau lebih dikenali sebagai Dojo, nama
BizPulse | Issue 29 : July - August 2018
Sembang Usahawan
yang kami beri - pada pertengahan 2015
untuk memberi akses kepada orang ramai
untuk bermain permainan komputer. Lebih
kurang seperti kafe siber sendiri. Tetapi
kami mahukan tempat ini menjadi lebih
daripada kafe siber yang biasa. Ianya harus
mempunyai persekitaran yang kondusif
untuk menarik minat orang untuk datang.
Kami mereka bentuk gaming den kami
sebagai ruang yang selesa untuk pemain
masuk dan berlatih dan pada masa yang
sama, mewujudkan komuniti dan menjalin
ikatan dengan kawan baru. Apabila ia sudah
mendapat tempat di hati pelanggan, orang
ramai mula mendekati kami dengan minat
untuk memulakan Dojos mereka sendiri. Ini
memberi kami peluang untuk melebarkan
perniagaan sedia ada kepada bidang
yang lain.
Kami mula mengajar orang lain
bagaimana untuk melakukannya. Kami
fikir ini adalah peluang yang lebih baik bagi
kami untuk menjual perkhidmatan kami,
dan kami bertindak sebagai perunding
untuk menggerakkan jenama kami di mata
dunia. Kami menjual lesen pertama kami
pada awal 2016. Pada masa itu, Kitamen
hanyalah merupakan sebuah jenama.
Jadi kami telah membangunkan Kitamen
sebagai sebuah syarikat pada pertengahan
2016 untuk mengembangkan model
bisnes kami.
Menjelang akhir tahun 2016, terdapat
lapan kedai Kitamen dan pada akhir tahun
lepas, kami sudah mempunyai 15 outlet.
Kini semua cawangan dikendalikan oleh
pemegang lesen. Ini membolehkan pasukan
kami memberi tumpuan lebih kepada
membina jenama dan mengembangkan
pasaran secara keseluruhannya.
Bagaimanakah
industri anda?
anda
melihat
landskap
Terdapat banyak perkhidmatan yang
boleh kita masukkan ke dalam industri
ini. Ia adalah industri penonton. Akan ada
jenama yang ingin mengiklankan, penaja
yang ingin anda cari, pasukan yang ingin
anda konsolidasi. Terdapat banyak peluang
di sini dan Kitamen bertindak sebagai
platform bagi jenama lain untuk berhubung
dengan komuniti. Lebih penting lagi,
persepsi orang ramai terhadap permainan
juga telah berubah dalam beberapa
tahun kebelakangan ini. Orang ramai
lebih banyak menerima permainan video
hari ini, jadi ini membolehkan industri ini
terus berkembang.
Ia juga membolehkan lebih ramai orang
mengambil bahagian dalam pertumbuhan
industri esports. Dengan landskap industri
yang semakin meningkat, terdapat lebih
banyak peluang pekerjaan di pasaran seperti
game developers, professional gamers, event
organisers, coaches, even, or shoutcasters
– much like commentators – once you’ve
Sumber: Facebook Kitamen
acquired the knowledge and experience in a
game. Kini terdapat lebih banyak hab dalam
talian. Terdapat juga wartawan yang kini
berdedikasi untuk meliputi e-sports. Kami
mempunyai pertandingan baru-baru ini di
Subang dan sekumpulan kanak-kanak di
sana bermain Counter Strike. Dan ibu bapa
mereka ada menyokong mereka! Tenyata
aktiviti ini kami nampak ianya mempunyai
potensi luas untuk dimajukan.
Bagaimana anda melihat perjalanan dan
perkembangan syarikat anda dan apakah
perancangan terdekat syarikat anda?
Kitamen berhasrat untuk membuka
30 Dojos menjelang akhir tahun dan
berharap dapat bekerja di bangunan
Epicenter di Kuala Lumpur tidak lama
lagi. Epicenter akan mempunyai pentas
dengan kemudahan penyelenggaraan
acara, kawasan Dojo untuk melatih, akses
VIP, bilik penyiaran, ruang makanan dan
minuman dan co-working spaces. Epicenter
dijangka menyumbang kira-kira 30% kepada
pendapatan Kitamen. 70% yang lain akan
datang dari pelesenan, acara, pengiklanan
dan tajaan.
Dengan infrastruktur yang ada
sekarang, dengan media sosial dan Internet,
semuanya bergerak lebih cepat, lebihlebih lagi industri e-sports. Jadi jika anda
terlambat dalam mengambil peluang yang
telah tersedia ini, anda akan ketinggalan,
terutamanya apabila pemain antarabangsa
telah mula datang ke Malaysia. So we
need to have a foothold here first. Sekiranya
semuanya berjalan lancar untuk syarikat
kami tahun ini, Kitamen merancang
untuk menyebarkan sayap ke rantau lain
tahun depan dengan Indonesia sebagai
pelabuhan pertama.
Kami mahu membina Epicenter utama
kami di negara lain dan mula mewujudkan
ekosistem di sana. Tetapi kami perlu
terlebih dahulu mengukuhkan jenama kami
di Malaysia. And then get it out there that we
are bringing everything that we are operating
in Malaysia to our neighbouring countries.
Kami telah meninjau ruang di negara
lain. Perhentian pertama kami adalah di
Indonesia. Kami juga mempunyai minat dan
permintaan dari Filipina dan Bangkok.
Apakah pencapaian terbesar syarikat anda
dan apakah aspirasi perniagaan anda di
masa akan datang?
Dalam tempoh dua tahun, Kitamen
telah mengambil bahagian secara aktif
dalam menganjurkan kejohanan eSports.
Mempunyai lebih banyak cawangan sahaja
tidak akan menjamin apa-apa. It is all
about events and positioning your presence
in the scene itself to build a name for. Kami
menggabungkan sukan ke sukan lain seperti
sukan bola sepak dan bola keranjang, yang
ternyata mewujudkan lebih banyak peluang
pada syarikat kami. e-sports is a wider
ecosystem beyond just a group of players.
Kitamen juga bekerjasama dengan
Perbadanan Ekonomi Digital Malaysia
(MDEC) mempromosi kempen Healthy
Gaming dengan objektif memberitahu
orang ramai permainan digital adalah
suatu aktiviti yang menyeronokkan tetapi
perlu dilakukan secara berhemah dan
berpatutan. Usahasama itu diharap dapat
menyemarakkan
lagi
pembangunan
permainan digital di Malaysia, di samping
memperluas
kesedaran
mengenai
industri ini.
Kitamen juga turut bekerjasama
dengan Media Prima Bhd di dalam
membangunkan e-sports dan industri
permainan tempatan menerusi platform
media yang meluas, menjadikan komuniti
permainan tempatan lebih dikenali secara
global. Kami juga baru-baru ini melancarkan
inisiatif dana berasaskan ekuiti atau Equity
Crowd Funding (ECF) bagi menjana dana bagi
membina sebuah pusat e-sukan khas yang
lengkap untuk kegunaan komuniti. Kitamen
juga akan menganjurkan sesi ceramah,
projek dan aktiviti bersama komuniti
e-sports dengan kerjasama beberapa pihak
pada masa akan datang.
Issue 29 : July - August 2018 | BizPulse
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BizPulse | Issue 29 : July - August 2018
Knowledge Spa
Reinvent Your Business Model
Reviewed by Nursyafiqah Mohd Rafee
I
n his pioneering book Seizing the White
Space, Mark W. Johnson argued that
business model innovation is the most
proven path to transformational growth.
Since then, Uber, Airbnb, and other
start-ups have disrupted whole industries;
incumbents such as Blockbuster, Sears,
Toys “R” Us, and BlackBerry have fallen by
the wayside; and digital transformation has
become one of the business world’s hottest
(and least understood) slogans. Nearly a
decade later, the art and science of business
model innovation is more relevant than ever.
Author :
Mark W. Johnson
Pages :
240 pages
Publisher : Harvard Business
Review Press
In this revised, updated, and newly titled
edition, Johnson provides an eminently
practical framework for understanding how
a business model actually works. Identifying
its four fundamental building blocks, he lays
out a structured and repeatable process
for reinventing an existing business model
or creating a new one and then incubating
and scaling it into a profitable and thriving
enterprise.
In a new chapter on digital transformation, he
shows how serial transformers like Amazon
leverage business model innovation so
successfully. With rich new case studies of
companies that have achieved new success
and post-mortems of those that haven’t,
Reinvent Your Business Model will show
you how to:
Determine if and when your organization
needs a new business model Identify
powerful new opportunities to serve your
existing customers in existing markets
Reach entirely new customers and create
new markets through disruptive business
models and products
Seize opportunities for growth opened
up by tectonic shifts in market demand,
government policy, and technologies
Make business model innovation a
more predictable discipline inside your
organization.
Business model innovation has the power
to reshape whole industries - including
retail, aviation, media, and technology-redistributing billions of dollars of value.
This book gives you the tools to reshape
your own company for enduring success.
Reinvent Your Business Model is the
strategic innovation playbook you need now
and in the future.
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
27-29
Sept
Blockchain Solutions Asia
(BSA) Exhibition
11-13
Oct
Malaysia Business Expo
12-14
Oct
N.GAGE Asia’s Largest
Influencer Event
Venue:
Venue:
Venue:
Technological
innovations
such
as
robotics, artificial intelligence, big data,
cloud technology, Internet of Things, new
materials, augmented reality, nanotechnology,
biotechnology and the mobile economy have
established themselves very quickly over
the last few years and have now became the
key elements of the commercial and social
economy. The Blockchain Solution Asia 2018
is set to provide the answers for organizations
to better understand the impact of Blockchain
Revolution and its technological advances on
their business models and operating processes
in order for them to adapt themselves to this
new world technology-led order.
Malaysia Business Expo - Largest Business
To Business showcase in Malaysia. MBEX
2018 focus all exhibitor & visitor on business
segment only. This event target showcase
200 exhibitors offer support, opportunity &
solutions for business & entrepreneurship.
N.GAGE would be a great platform that help
with networking and meeting new people,
especially in the Asia’s digital advertising
scene, where some of Asia’s most potentially
content creator come together. At N.GAGE,
you’ll have the chance to make connections
with the people who matter most to digital
advertising success, exchange advice, stories
and experiences. The networking opportunities
are incredible. If you’re looking for an event
that brings together Asia’s most influential
under one roof, you’re looking for N.GAGE. A
destination for brands looking to learn how
to leverage their businesses via influencer
marketing.
Kuala Lumpur Convention Centre,
Kuala Lumpur
BizPulse | Issue 29 : July - August 2018
MiTEC, Kuala Lumpur
Kuala Lumpur Convention Centre,
Kuala Lumpur