(From left) Wang, Yip, Leong, Chan, Azman and Chieng during the launch of the Soba Prestige 2024 event. — Photos by GLENN GUAN, IZZRAFIQ ALIAS and CHAN TAK KONG /The Star
SOBA Prestige paves way for entrepreneurs to develop businesses
A BUSINESS networking session for small and medium enterprises (SME) turned out to be a dynamic event for attendees.
Held at Hokkaido Table at Aurum Theatre at The Exchange TRX in Kuala Lumpur, the Star Outstanding Business Awards (SOBA) Prestige event saw about 70 guests made up of SOBA’s past winners, sponsors and strategic partners.
Guests were privy to a panel discussion as well as a pitching session by 10 entrepreneurs to further opportunities for business, investment or partnership.
Bursa Malaysia origination and listing director Leong See Meng said in his keynote address that this year’s SOBA theme, “Breaking Horizons”, signified a collective drive for the industry to transcend traditional boundaries and seize new opportunities.
He said one of the sectors that had shown innovation and adaptation in pushing the limits of achievements were micro, small and medium enterprises (MSMEs).
“They have played a crucial role in driving the country’s economic growth and creating employment opportunities.
(From left) Moderator Malaysia Retail Chain Association (MRCA) vice-president Dr Afendi Dahlan with panel speakers comprising Secret Recipe Holdings Sdn Bhd managing director Patrick Sim, Malaysia Entrepreneurs’ Development Association president Datuk Teh Tai Yong and Bursa Malaysia listing development executive vice-president Lee Kuan Teck during Soba Prestige 2024.
“According to the Department of Statistics the gross domestic product (GDP) from MSMEs grew by 5% in 2023, contributing 39.1% to the country’s economy,” he added.
As such, he said it would be a matter of time before these businesses would progress to becoming public listed companies.
“One way to achieve growth and sustainability in any business is through an initial public offering (IPO), which represents a significant milestone in the lifecycle of any company.
“They not only provide an opportunity for these businesses to raise capital for expansion, but also enhance their credibility and visibility in the market,” he said.
He revealed that as of Aug 13, they had 29 new IPOs.
Chieng (left) and her team at the PKT Logistics booth.
“We will be expecting another three listings in August, bringing us closer to our target of 42 IPOs for 2024,” he added.
To support public listed companies, Leong said there were several programmes under Bursa Malaysia to help them become better corporate citizens in Malaysia and increase their investability and attractiveness to investors.
PKT Logistics Group corporate affairs head and strategy executive assistant to group chief executive/managing director Corinne Chieng said SOBA Prestige was an excellent avenue for past SOBA winners, sponsors and strategic partners to exchange insights and build connections.
“The past winners pitching sessions help connect and open doors to new business opportunities, while Bursa Malaysia’s sharing session was particularly beneficial for SMEs with a roadmap to an IPO.
“As SMEs scale up and expand globally, enhancing ESG (environmental, social and governance) principles and commitments becomes a key focus to gain easier market access and attract new customers.
“Increasingly, many multinational companies and PLC prefer to support businesses that align with their values, which echoed our group CEO and MD Datuk Seri Dr Michael Tio who says, ‘No ESG! No MSG! (Multinational Sales and Growth),” she said.
CGC employees at their booth during the event.
Meanwhile, Credit Guarantee Corporation Malaysia Bhd (CGC) business development and products senior vice-president Azman Taufik said SOBA Prestige was beneficial to companies.
“Through the networking process, it can help SMEs identify solutions for financing issues.
“CGC is here to assist underserved businesses such as startups and the gig economy,” he said.
Malaysia External Trade Development Corporation (Matrade) strategic planning division senior director Raja Badrulnizam Raja Kamalzaman said SOBA Prestige was a powerful tool for fostering professional growth and creating pathways for future success.
“It highlights outstanding businesses as well as inspire and equip others to pursue growth and innovation on an international scale.
“This aligns perfectly with Matrade’s mission to support and facilitate exporters to go abroad,” he said.
In extending his gratitude to sponsors from CGC, PKT Logistics Group Sdn Bhd, RHB Bank Bhd and official trade promotion partner, Matrade, Star Media Group (SMG) chief executive officer Chan Seng Fatt also congratulated SOBA winners for breaking new ground with their entrepreneurial spirit.
Yip (second from left) with his team at Soba Prestige 2024.
“When we launched SOBA in 2009, we had a vision to recognise and elevate outstanding SMEs.
“Seeing all of you here today, I can reaffirm that our vision has materialised.
“Through this gathering, we hope to reconnect and form new bonds that go beyond mere business, fostering a new generation of thought leaders and community leaders.
“It is also our way of expressing sincere thanks to all of you for being a vital part of SOBA,” said Chan.
He added that SOBA had successfully acknowledged and celebrated the achievements of over 400 outstanding companies in the past 15 years.
“Sponsors, partners and judges have commented that our SOBA community has not only shown great resilience and creativity, but also demonstrated their desire to continuously achieve high levels of success.”
As such, Chan added that this gathering was not only a platform for engagement but a catalyst for new ideas and a launchpad for future partnerships.
Also present at the event were SMG chief business officer Lydia Wang and RHB Bank Bhd SME Banking head Yip How Nang.
