The Breakfast Grille

According to the World Bank, economic growth in East Asia and Pacific region is projected to expand by 5.1% in 2023 thanks to China's reopening. But their report also points to slowing pace of reform. We ask Aaditya Mattoo, Chief Economist of the East Asia and Pacific Region, World Bank as to why this is happening and what are the headwinds he expects.See omnystudio.com/listener for privacy information.

Should companies be run to earn a profit, or to serve a purpose? Author and London Business School professor of finance, Alex Edmans believes that it's not an either-or choice. Philip See speaks to Alex on the profit versus purpose conundrum that businesses face.See omnystudio.com/listener for privacy information.

The United Nations has warned that the world is at risk of exceeding the 1.5 degrees Celsius limit for global warming in the next 10 years. How is Malaysia responding to the climate crisis? We speak to Nik Nazmi Nik Ahmad, Minister for Natural Resources, Environment and Climate Change on progress to reduce carbon emissions, the timeline for tabling the National Adaptation Plan and concerns over environmental data transparency.Auto-generated TranscriptThis is a podcast from BFM 89.9. The business station,The BFM Breakfast Grille, connecting you to the top people and ideas powered by U Mobile 5G. Now with you.Good morning, you're listening to the Breakfast Grille. I'm Syazana Mokhtar. The science couldn't be more clear. The world is running out of time to limit global warming to 1.5 degrees Celsius with un scientists warning that we could breach this target in the 2030s without urgent action.The house is on fire. So how is the Malaysian government responding to the climate change? Alarm bells? Nik Nazmi Nik Ahmad, Minister of Natural Resources Environment and climate change? Joins me on the show today to discuss this. Thank you for taking the time to speak with us. Nik. Welcome to the show. Hi, thanks for having me here. I'm going to put you on the spot. Is Malaysia facing a climate emergency?Well, definitely, I mean, we, we see it every day. We see it with the floods that we have that keep breaking records year after year and we see it with the incoming heat wave that we're having now. So definitely we are facing a climate emergency like other countries in the world. Ok. So you have taken a different position from the previous government. The national government said there wasn't a need yet to declare a climate emergency as efforts were being taken to combat climate change. In this sense, you're departing from their stance, Malaysia is facing a climate emergency. Well, in substance. Yes. But what I'm saying, you know, I think what was asked by the previous, on the previous government was for the government to declare a climate emergency in law with that? I think that, you know, I I I think that we don't have to declare a legal climate emergency. It was declared in law in the UK and nothing much has happened. What is more important I think is to understand about how big the climate situation is and to address it rather than, you know, putting us to certain standards that may be, you know, that, that are false or provide an illusion. Ok. At the same time, you acknowledge there is a climate emergency of sorts, but you have also postponed the climate change bill which was a piece of legislation that was on the cusp of being tabled by the the national government. If not for GE15, you push that back another 2 to 3 years. Why has this bill been delayed similar to having, you know, about declaring us having a climate emergency? I do not want us to just tick the boxes without having a significant or substantial uh meat to the legislation. So, with regards to the Climate Change Act, and I, I know uh my, my predecessors, a few generations back Yeo Bee Yin,Uh she did put some work into it, you know, and, and it was uh uh what do you call that progressing at good pace? However, when I came into office, I didn't get much on the table uh from my immediate predecessors. Uh So, you know, for me, you know, I do not want to just rush a Climate Change Act this year.Uh And seeing that it does not address many of the things that we want to address. Um Actually, we have many legislations that are existing that can address climate change, uh that we can work on, make it more effective, which is, is I think uh as important as having a Climate Change Act in place. So you tweeted back in February this, that we want a bill that's not toothless, that is comprehensive and that will be truly impactful what was lacking in the draft bill that warrants a complete overhaul from your perspective. I think I've said it often enough that uh I did not get anything from my predecessor.So, so now, you know, the team, that's why you're starting from scratch. Yes. Um You know, so I'm, I'm asking the officials at the ministry and and you know, for us to have a, to have a really thorough look at the legislation to really consult widely um to see how other countries are doing uh the the legislation and also to have a proper engagement with the various stakeholders, civil society, um academia, businesses to see when the bill comes out, it will be truly comprehensive. So at this point, do you have, I suppose a vision of sorts, Nik in terms of what you think should be in this bill or what you want it to encompass?I think there are two key elements um in terms of carbon emissions. Uh it's something that we really need to address. Uh but you know, as a country, we do not emit that much, we emit about 0.69% of the carbon emissions globally. We are doing quite well compared to many other countries at our stage of development and our size of economy. However, we

The pandemic and rising input costs hit the construction and property sectors significantly causing listed company, Crest Builders to suffer three consecutive years of losses. Eric Yong, Managing Director of Crest Builder Holdings Berhad tells us if 2023 is the year where profit will be achieved despite the competitive environment and their strategies for growth.See omnystudio.com/listener for privacy information.

Romania, a country in Eastern Europe, has much to offer the world - access to at least 10 EU countries via the famed Danube River, accessible from the Black Sea; a passionate effort to combat corruption; and a commitment to fight climate change. Ambassador of Romania to Malaysia, Nineta Bărbulescu, breaks down the experience of her nation, one generation after the fall of communism there.See omnystudio.com/listener for privacy information.

Dymon Asia Private Equity invests in Southeast Asian companies in the lower mid market space, typically looking to invest between 15 to 50 million dollars. Some of their investments are Farm Fresh, BookXCess and Frontken. Managing Partner Tan Chow Yin shares with us their recent fundraising and how the environment for investment changed post-pandemic.See omnystudio.com/listener for privacy information.

April 20th every year is the United Nations Chinese Language Day in recognition of the fact that it is the world's second most spoken language with over 1.1 billion speakers (English has some 1.12 billion). In Malaysia, the existence of vernacular schools that use Mandarin as a medium of instruction has been a topic of debate - does it help unite a multi-ethnic society or is it necessary to bring in much needed FDIs - or do these have to be mutually exclusive. Eddin Khoo, an author and senior fellow at ISIS as well as Wong Chin Huat, a political scientist and professor at Sunway University break down the issues.See omnystudio.com/listener for privacy information.

Global business process outsourcing or BPO is a 300 billion US dollar industry, with the customer experience (CX) sub-sector accounting for about a third of that pie. How is Singapore-based player TDCX carving out its niche amidst a competitive landscape and the digital transformation wave? We speak to Executive Vice President and Group CIO Byron Fernandez to find out.See omnystudio.com/listener for privacy information.

Rubber has had a long history with Malaysia where at one time we accounted for half the world's supply of rubber, transforming Malaysia into Britain’s richest colony. But for the past decade, the industry has been on decline since its heyday. We speak to the Malaysian Rubber Board's Dato Dr Zairossani for the government's plan on expanding the industry and assisting its stakeholders.See omnystudio.com/listener for privacy information.

Homegrown jeweller Habib Jewels has been giving the Gift of Happiness to Malaysians for 65 years and counting. But can Habib keep Malaysian spirits and the fortunes of the overall company buoyed amid global economic headwinds? We discuss the intricacies of the jewellery business with Dato' Sri Meer Sadik Habib, Group Executive Chairman of Habib Group.Image credit: ShutterstockSee omnystudio.com/listener for privacy information.

With Hari Raya round the corner, we check in with Datuk Wira Dr Ameer Ali Mydin, Managing Director of Mydin as to how sales have been, what is his strategy in a very competitive environment and will Mydin ever be sold. We also ask if this new government is pro-business and what advice would be given to a budding entrepreneur.See omnystudio.com/listener for privacy information.

Integrated auto e-commerce platform Carsome has the distinction of being the first Malaysian unicorn, reaching the critical USD$1 billion valuation in July 2021. But as global macroeconomic headwinds dampen the prospects of industry disruptors like Carsome, including scuppering its widely touted IPO last year, can the company stay on course for growth and profitability? Eric Cheng, CEO and co-founder of Carsome discusses how it plans to navigate the challenging track ahead.See omnystudio.com/listener for privacy information.

After 3 very challenging years, no thanks to the pandemic, has Tune Protect finally turned to corner? What are the growth strategies, why do they want to be part of the Bank Negara's financial sandbox and does being associated with Air Asia work against them. Questions we pose to Rohit Nambiar, Group CEO, Tune Protect whilst asking him if the market underappreciates the stock.See omnystudio.com/listener for privacy information.

T7 Global Berhad has its roots in the oil and gas industry and now diversified to the construction and aerospace industry. Executive Director, Tan Kay Vin shares with us how the company is navigating through net zero ambitions of the oil and gas players, why dabble into other industries, as well as updates on their consortium with Siemens to upgrade the baggage handling system for KLIA.See omnystudio.com/listener for privacy information.

Founded in Penang in 2012, Bon Estates has come a long way and rebranded itself to target high end luxury consumers in Kuala Lumpur with a handful of projects under its belt. We speak to CEO Chan Jin-Wy on the boutique developer's business performance, how the economic slowdown is impacting sales and future projects for Bon Estates.See omnystudio.com/listener for privacy information.

Airbnb reported their best financial year to date in 2022, achieving their first profitable full year on the back of the resurrection of the travel and hospitality industry post-pandemic. How sustainable is this growth momentum and how much does the Southeast Asian region contribute to Airbnb's fortunes? We discuss the outlook for the short-term rental market in Malaysia and the region with Amanpreet Bajaj, General Manager for Southeast Asia, India, Hong Kong and Taiwan.See omnystudio.com/listener for privacy information.

Private Healthcare providers saw earnings decline sharply during the pandemic as most differed elective procedures. But is recovery in sight? Nadiah Wan, Group CEO of listed TMC Life Sciences Bhd gives us that answer whilst offering her views on the structural issues facing Malaysia's healthcare system and if public private partnerships are one solution.See omnystudio.com/listener for privacy information.

SME Bank as a DFI has multiple mandates but what is their track record in helping SMEs. Datuk Wira Dr Aria Putera Ismail, CEO, SME Bank answers that question whilst telling us how the bank is performing financially and the health of SMEs today.See omnystudio.com/listener for privacy information.

Does a MOF company founded more than 100 years ago involved in legacy management, property and fund management still have relevance today. Questions we pose to Ahmad Feizal Sulaiman Khan, Group Managing Director at Amanah Raya Bhd, who will also tell us if the compliance issues in the past have been dealt with and their strategies for growth.See omnystudio.com/listener for privacy information.

With almost two centuries of shared history, the UK without a doubt has had major influence in the political, economical and societal structure of Malaysia. With more than RM30 billion worth of total trade between both countries, the UK continues to be an important political and economic ally to Malaysia. H.E Charles Hay, British High Commissioner to Malaysia comes on the Breakfast Grille to discuss developments of our bilateral relationship, the rising geopolitical tensions and his outlook for the year.See omnystudio.com/listener for privacy information.

The government is abolishing the mandatory death penalty for 11 offences, and will put a cap on prison sentences between 30 to 40 years. What are the implications of this on the overall prison system, and what other reforms need to be implemented in tandem to improve the rehabilitation chances and welfare of inmates? We discuss this with our panel of experts.Image credit: ShutterstockSee omnystudio.com/listener for privacy information.

Volvo Truck is the largest producer of heavy trucks in Europe and established its presence in Malaysia more than 50 years ago. Managing director, Tony O'Connell shares with us efforts to accelerate commercial EV adoption as well as their business growth in the country.See omnystudio.com/listener for privacy information.

In the wake of the pandemic, academics and business schools now face pressures on multiple fronts. We speak to newly appointed CEO of Asia School of Business, Sanjay Sarma for his thoughts on how ASB is doing in today's landscape and get a sense of where the future lies in executive education.See omnystudio.com/listener for privacy information.

The speed in which SVB and two regional banks collapsed in US and the subsequent demise of CS took markets by surprise. We speak to Thorsten Beck, Professor of Financial Stability, Florence School of Banking and Finance at the European University Institute as to the reasons for this, will there be a contagion effect on the banking system and what can regulators do to restore confidence.Image credit: ShutterstockSee omnystudio.com/listener for privacy information.

Despite global inflation and supply chain troubles permeating 2022, A&W Malaysia recorded its best performance to date on the back of new store openings in East Malaysia. How sustainable is this bounce in revenue and what are the greenfield regions still open for expansion? We get updates from the Global CEO of A&W Restaurants, Kevin Bazner.See omnystudio.com/listener for privacy information.

Euromonitor International estimates that the market size for beauty will grow to nearly USD$550 billion dollars in 2027, with much of that driven by the Asia Pacific. However, with so many new labels emerging in an intensely competitive market place, can long-standing brands like The Body Shop stay relevant amid fast moving trends and the digital age? We catch up with Datin Mina Cheah-Foong, Managing Director of InNature Berhad, the brand owner of The Body Shop in Malaysia, Cambodia and Vietnam for an update on the business.See omnystudio.com/listener for privacy information.

Malaysia and Brazil have established their respective embassies for four decades already. Brazilian ambassador, H.E. Ary Norton de Murat Quintella shares with us the bilateral trade and investment ties between the two nations, and President Lula's stance in the Russia-Ukraine war.See omnystudio.com/listener for privacy information.

First invented by the Greeks in 5th Century BC, democracy has grown to be a very appealing form of government for many countries in the world. While the idea of democracy was different from present-day democracy, the core concept of a rule by the people with a system of which citizens have the power to participate in decision-making remains somewhat true. Author Dr Diego Fossati discusses the evolution of democracy and what it means in this region of the world on the Breakfast Grille.See omnystudio.com/listener for privacy information.

The consortium comprising Boost and RHB Bank is one of 5 digital banks in Malaysia licenced by Bank Negara back in April 2022 and before 2023 ends, we should expect to see the result of this partnership. Sheyantha Abeykoon, Group CEO of Boost, returns to the Breakfast Grille to update us on the fintech player's path to profitability and the challenges of navigating this new, all online, playing field.See omnystudio.com/listener for privacy information.

Japan and South Korea have long had a frenemy-type relationship as a result of historical grievances. Does the recent visit to Tokyo by President Yoon Suk Yeol herald a new age in their bilateral relations? We discuss the outcome of this landmark visit with Tokyo-based journalist William Pesek.Image credit: ShutterstockSee omnystudio.com/listener for privacy information.

Prime Minister Datuk Seri Anwar Ibrahim has made reforms the cornerstone of his government agenda, hence the Law and Institutional Reform portfolio under the Prime Minister’s Department takes on outsized importance in pursuing legislative change. But how much are political considerations holding back progress on reforms? We discuss the government's reform agenda with Ramkarpal Singh, Deputy Minister in the Prime Minister's Department (Law and Institutional Reform).See omnystudio.com/listener for privacy information.

Faber-Castell is a 261-year-old stationery maker that has had a presence in Malaysia for more than 40 years, manufacturing erasers and ballpoint pens, among others. How did this company weather the pandemic when demand for such products was at its lowest with the closure of schools, colleges, universities and offices. Andrew Woon, the Managing Director of Faber-Castell Malaysia, Indochina and East Asia, talks to us about how the company is navigating new challenges in this digital age while becoming more sustainable.See omnystudio.com/listener for privacy information.

Started in 1919, Chatham House is an independent policy institute headquartered in London. We discuss recent world developments with the director of Asia Pacific, Ben Bland, including the rise of China as a superpower and our understanding of authoritarian vs libertarian regimes.See omnystudio.com/listener for privacy information.

The Earthshot Prize, launched in 2019 by William, the Prince of Wales aims to catalyse solutions that can repair the planet and avert environmental disaster by awarding 50 million pounds to 50 solutions over the course of 10 years. Is this prize money a mere drop in the ocean - or can these ripples create a revolution in sustainability innovation? Hannah Jones, the CEO of the Earthshot Prize and former Chief Sustainability Officer of Nike discuss the evolving landscape of ESG and sustainability, as well as how much of an impact the Earthshot Prize can feasibly make.See omnystudio.com/listener for privacy information.

The Indonesian Chamber of Commerce and Industry (KADIN) chairs the 2023 ASEAN Business Advisory Council. We speak to Arsjad Rasjid, the chairman on the potential of ASEAN. And as the president director of Indika Energy, how he managed a stark turnaround from losing millions of dollars to an increase in the company’s assets by about seven times within six years.See omnystudio.com/listener for privacy information.

Sunzen Biotech started off specialising in animal health and in the past 25 years, it dabbled in CPO trading, traditional complementary medicine, human supplements and its latest venture - money lending. How does this Bursa Malaysia-listed firm find its niche or does it even need to. Executive director Ching Chee Pun talks about the challenges of navigating these businesses.See omnystudio.com/listener for privacy information.

The global semiconductor sector is poised for a downturn this year, but the gloomy outlook hasn’t deterred the expansion plans of Oppstar Berhad, a front-end semiconductor player that will debut on the ACE Market on March 15th. Founder and CEO Ng Meng Thai joins me on the show today to discuss why he sees a bright future ahead for the business.See omnystudio.com/listener for privacy information.

The venture capital landscape has had a boom in the past decade with a trajectory that is unlike any other. What's the story behind the successful firms that're seen as heroes of this tech century? Sebastian Mallaby explores this in his latest book, The Power Law. We speak to him to understand the history of tech incubation, in Silicon Valley and ultimately worldwide. We learn the unvarnished truth about some of the most iconic triumphs and infamous disasters in the VC landscape.See omnystudio.com/listener for privacy information.

A Masters in Business Administration or MBA was once seen as the golden ticket to advancement in the corporate world. However with changing attitudes towards higher education and the financial squeeze of a global recession looming overhead, do MBAs still make economic sense? Prof. Ilian Mihov, Dean of INSEAD makes a case for continuing business education and how the famed institution shapes the next generation of corporate leaders.See omnystudio.com/listener for privacy information.

In conjunction with International Women Day, we speak to one of the most powerful women in the government of the day, law minister Datuk Sri Azalina on her agenda and priorities in the government. She takes the hot seat to share her thoughts on her reform agenda, automatic citizenship for children born from Malaysian mothers overseas and other key issues.Image credit: https://www.facebook.com/ybaosSee omnystudio.com/listener for privacy information.

Women make up 35% of the workforce in the Malaysian tech space, but are they equally empowered as their male counterparts to take on leadership roles? What kind of policies would encourage women's participation in the digital economy? Ahead of International Women's Day on 8 March, we discuss the reality and recommendations with our panel of guests.See omnystudio.com/listener for privacy information.

400%! That is how much the share price of TT Vision rallied by post its IPO on 18 January 2023. The stock has since given up some gains but is still up 264% from its IPO price of RM0.34 giving it a market capitalisation of RM590m. TT is involved in the manufacturing of machine vision equipment. We will speak to its CEO Goon Koon Yin on what has been driving the sharp share price gains and has it been a beneficiary of the US China trade diversion?See omnystudio.com/listener for privacy information.

At any given point in time, more than 210 million people in over 60 countries are wearing a Bata shoe. How did a Czech brand founded in 1894 end up in so many countries and still made us all think it is locally made? Vaibhav Manrao is Bata Malaysia's Managing Director and he shares his insights into how the shoemaker took the Covid-19 pandemic impact in its stride and its plans to power through.See omnystudio.com/listener for privacy information.

Paramount Corporation Berhad is a property developer with established townships in Klang Valley, Kedah and Penang. It also ventured into co-working space, owns a hotel in Kuala Lumpur as well as a fine dining restaurant Dewakan, which was recently awarded a Michelin Star. On the education side, the divestment has paved the way for a 12 sen special dividend or a one-off yield of more than 10%. YTD, the stock has done well, up 16%. With all this mind, what sort of growth trajectory is Paramount on in the coming years? We speak to Jeffrey Chew, CEO of Paramount Corporation Berhad.See omnystudio.com/listener for privacy information.

Prime Minister Dato' Sri Anwar Ibrahim returned to the role he held two decades ago and tabled the largest budget in history this month with a RM388 billion price tag. Described by some as cautious and safe, does the budget pave the way for a return to the black for the country's financial accounts? Treasury Secretary General Datuk Johan Mahmood Merican discusses the thought process that went into drawing up the budget and future fiscal reforms on the table.See omnystudio.com/listener for privacy information.

The United Kingdom is ranked 8th in the 2022 Monocle soft power survey no thanks to its strong currency of language and culture. Helped by the British Council which is known for its educational and cultural programs. However with a cut in spending, does this diminish their strategic goals and what plans do they have for the Malaysia after operating here for 75 years. We pose these questions to Scott McDonald, their CEO.See omnystudio.com/listener for privacy information.

Finance Minister Dato' Seri Anwar Ibrahim tabled his maiden budget last week, three months after taking office. How well are the principles of Malaysia MADANI reflected in the country's fiscal plan? We assess the retabled Budget 2023 and what it says about the government's policy direction with our panel of experts Dr. Tricia Yeoh, CEO of IDEAS & Soh Lian Seng, Head of Tax from KPMG.See omnystudio.com/listener for privacy information.

For past few decades, we have been seeing the rise of the role of middlemen and as they hold tremendously strong market power, economists have attributed the rising cost of living to their platform. Kathryn Judge, Author of Direct: The Rise of the Middleman Economy and the Power of Going to the Source shares with us how the middleman economy impact the way we buy and sell and how we can fight back.See omnystudio.com/listener for privacy information.

In the lead up to the 100 days mark of the unity government, we sit down with Syerleena Abdul Rashid, MP for Bukit Bendera and Lee Chean Chung, MP for Petaling Jaya to discuss the challenges of the political landscape today. We also talk about their plans in government, accountability measures and working with former archenemies.See omnystudio.com/listener for privacy information.

LH Plus, one of the oldest plastics companies faced rising costs and supply chain constraints during the pandemic. We check in with Callum Chen, CEO of LH Plus Sdn Bhd as to their growth plans, is a listing on the cards and the importance of succession planning.See omnystudio.com/listener for privacy information.