Enterprise Explores BFM Media

In response to the rising threat of online scams and slander, the Malaysian government recently (last week) announced that it is set to introduce an AI portal designed to help the public identify and combat digital fraud. This initiative, integrating advanced AI technologies with existing platforms, aims to bolster public safety and restore trust in the digital realm.

Although it is still in its early stages, the portal is seen as necessary to ensure the public can trust the content they encounter online. If any doubts arise, the public can consult the portal for verification.

The portal is an expansion of the special segment “Biar Betul!” featured on the national public broadcast station RTM channels. In addition, it will complement the functionality of existing platforms such as SEBENARNYA.MY, under the Malaysian Communications and Multimedia Commission (MCMC), and MyCheck.My, managed by the Malaysian National News Agency (Bernama). This effort is expected to streamline the process for the public to easily search and verify any received information.

Today, to shed light on the feasibility of this new AI portal, we speak with CF Fong, the Executive Chairman of LGMS Berhad, and a committee member of the Cybersecurity Chapter of PIKOM.
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EPF Akaun Fleksibel - only ‘break in case of emergencies’.

Last week (25 April 2024), the Employee Provident Fund (EPF) announced a restructuring, which, among other things, will see the introduction of a third account known as Akaun Fleksibel effective May 11th. We speak with Economist Dr Geoffrey Williams to dissect what this potentially means for EPF members, for the economy, and the retirement crisis.

Among other things, we explore how Account 1 (now Akaun Persaraan) has been moved up from 70% to 75% of contributions, how material a move this is by the EPF, the potential stimulus effect, EPF’s limits on addressing the retirement crisis and what else the government can explore, and much more.

More info about the restructuring:

Account Restructuring:
Member accounts will be restructured from the current two accounts (Account 1 and Account 2) to three accounts:

Akaun Persaraan: This account will accumulate savings specifically for retirement income.
Akaun Sejahtera: Designed to address members’ life cycle needs during retirement.
Akaun Fleksibel: A new account that provides flexibility for short-term financial needs. Savings in this account can be withdrawn as needed.

Allocation of Contributions:
Starting from 11 May 2024, contributions will be allocated as follows:
75% into Akaun Persaraan.
15% into Akaun Sejahtera.
10% into Akaun Fleksibel.

Transfer Option:
Between 11 May 2024 and 31 August 2024, members can transfer part of their savings balance to Akaun Fleksibel as an initial amount.
If no transfer is chosen, the existing balance will remain in Akaun Sejahtera.

Access to the System:
Members can fully access the new system starting from 12 May 2024.
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On the back of Earth Day earlier this week, Enterprise explores the 2024 Earth Day report that was released by market research firm Ipsos Malaysia with Arun Menon, Managing Director at Ipsos Malaysia.

This is the 4th edition of the report and is based on a 33-country survey conducted where 24,000 people were interviewed between January 26th and February 9th.

Below are the 6 key findings from the report, which we explore in more depth in the show.

Globally, across 33 countries, a majority think governments, businesses and individuals have a responsibility to tackle climate change. But conviction has dropped notably over the past three years.
Millennial and Generation Z men feel more apathetic and fatalistic about climate change compared with older generations and with women. Three in ten say it’s already “too late” to tackle climate change. And this sense that it’s too late to take action on climate change is particularly strong among young men.
A majority globally believe that developed countries, with historically high emissions, should contribute more towards climate action. Perhaps unsurprisingly, those in developed countries are less likely to agree with this.
Although awareness is improving, globally, people continue to misjudge which household actions would have the most impact on reducing their carbon footprint. People overestimate the effectiveness of low impact actions such as recycling.
Most are optimistic that transitioning economies away from fossil fuels will have environmental benefits, but views are mixed on the economic and affordability impacts.
Financial incentives and access to information are the leading motivators globally that could spur more climate action by individuals, followed by seeing climate impacts in their country.

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In the fast-paced world of advertising, language is not just a tool for communication but also an element of brand identity and cultural representation. Recently, concerns have arisen regarding the incorrect use of Bahasa Melayu in advertisements and public signage, sparking debates about linguistic integrity versus creative freedom. As advertisers and creative agencies navigate these waters, they face the challenge of balancing the evolving nature of language with the need to preserve its correctness and cultural significance.

This discussion is critical, as the implications extend beyond mere communication, but also influencing social perceptions and national identity.

Today, we speak with Prof Said Bani C.M. Din, Founder and Managing Director of bzBee Consult, who is also the President of PRCA Malaysia; and Khaidi Kamaruddin, the Founder of BULB Communique, to delve deeper into this matter where it is essential to consider how creative teams can foster linguistic accuracy while maintaining the innovative spirit that advertising demands.
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Today, Enterprise explores the KL20 action plan and what is in store for the startup ecosystem in Malaysia with Bikesh Lakhmichand, Founder at 1337 Ventures and Kevin Brockland, Founder and Managing Partner at Indelible Ventures.

For some context, the KL20 is a summit organised by the Malaysian government that aims to stimulate Malaysia’s startup scene by addressing some of the challenges faced by startup founders in the country like access to funding, navigating regulatory barriers and attracting top talent.

At the event, Prime Minister Datuk Seri Anwar Ibrahim launched the KL20 Action Paper, which is a comprehensive roadmap outlining tangible reforms to achieve convergence among key stakeholders – founders, venture capitalists, talent, incubators and accelerators, to propel Malaysia's startup tech sector to new heights.

Today on the show, Bikesh and Kevin help us break down the KL20 action plan and whether it fulfils the needs of startup founders in Malaysia as well as how this will facilitate the bigger goal of taking Kuala Lumpur into the ranks of the top 20 global startup hubs by 2030.
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Today on the show, Enterprise explores Echelon’s annual Top100 Program, a program specifically curated to boost the growth for startups in Malaysia. To help me break down the significance of this program to startups across SouthEast Asia, I’m joined in the studio by Mohan Belani, CEO and Co-Founder of e27, the startup ecosystem's go-to platform for insights, connections, funding, and talent opportunities.

Recently, Echelon has revealed the first 26 participants in this program for 2024 and some of the them include startups from Laos, the Philippines, and Malaysia, along with Singaporean applicants.

With that and along the course of our discussion today, Mohan helped us get a better picture on the selection process for startups to enter this program, why fundraising has become more challenging in the startup ecosystem as well as some of the differences between Malaysia's tech startup ecosystem with other participating countries from across SEA.
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