The Breakfast Grille

In this 2013 interview and on the eve of its Main market IPO, Air Asia X CEO Azran Osman Rani discusses the following issues:  - The final price of 1.25 ringgit fixed in the middle of the bookbuilding range of between RM1.15 - RM1.45 per share;- Selling point - key reservations;  - Capacity: regional competition: both AirAsia and Lion Air have placed sizeable orders -- in the region of 664 planes worth $64.4 billion at list prices - not to mention the Malindo threat to boot;  - Offer for sale portion; - Retail allocation - said to be “groundbreaking” - reported poor response;  - Valuation: seen as slightly too rich;  - Maybank as the “stabilising manager” -- issues;  - Route expansion -- issues;  - Japan JV cancellation - issues - key lessons / templates for instruction;  - India: a rationalised route previously, and now back on the cards as AA Bhd discusses inta-country JV issues;  - Dividends as a more important component of investors’ total return - timetable to policy;  - Reported plans to expand very aggressively – nearly tripling its fleet - fnances;  - Debt levels - debt profilr -  ringgit weakening - US interest rates rising;  - Revenue: charter flights and ancillary income are posting far higher growth rates than scheduled flights;  - How will they be built on, expanded;  - Interesting that in FY2012 ‘fuel surcharge’ amounting to 148 million ringgit was treated as ‘Revenue’; - Role on Malaysian Tourism Board;   - The new low-cost terminal or KLIA2 - delays - culpability - completion;  - Tourist arrivals static at c.24 million the last three years -- issues;  - Social Media comments - racism - Utusan Malaysia -  PERKASA - backlash.See omnystudio.com/listener for privacy information.

Calvin Ooi Shang How, Executive Director of Leon Fuat Bhd joins us on the breakfast grille to discuss: - life a month after listing on the KL stock exchange - changes needed to go from a family run business to one with 28% free float - how long it took to prepare the company for the IPO - timing of the listing - share price dipped 13% after IPO - changing focus to increase proportion of processing revenue - increasing value added works in revenue generation to improve margins - steel industry outlook and how it affects Leon Fuat - slitting machines and how they enhance Leon Fuat's revenue generating abilities - customer profile by sector - regional growth plansSee omnystudio.com/listener for privacy information.

John Culver, Group President of China and Asia Pacific for Starbucks joins us on the Breakfast Grille to discuss: - growth in APAC and China for the group - the importance of the region for Starbucks - regional consumption habits - why Starbucks has succeeded in the region - frequency of customer visits - coffee farming in Yunan - coffee retail prices - product diversification - loyalty cardsSee omnystudio.com/listener for privacy information.

Geoffroy de Drouas, Business Development General Manager of Bonia Group joins us on the breakfast grille to discuss: - Bonia's position in the market - why it acquired Jeco Pte Ltd in Singapore and its impact on cash balances - who they sell to - product diversification and quality within each of each brands - variable shopping habits of their different markets - whether their branding strategy is confused - brand ambassadors - implementation of travel retail strategy - multiple brands and the impact on the group - the group's vision and identity - his seemingly all encompassing job title of "Business Development General Manager" - working in a family run business - financial performance  - regional growth and the cost to the businessSee omnystudio.com/listener for privacy information.

The Right Honorable Hugo Swire MP, British Minister of State at the Foreign and Commonwealth Office, joins us on the breakfast grille. He visited Malaysia in June as part of a tour of the region and launched the Malaysia UK Alumni programme during his visit. We discuss: - Britain's recent increased interest in the region - the significance of the Malaysian consortium redeveloping the Battersea Power Station - whether the UK feels threatened by the increased participation in the country by foreign entities - why the UK is appealing to investors - whether the UK's importance in the world is waning - Mr Swire's key takeaways from his visit to the region - strengthening ties between Malaysia and the UK through the alumni community - whether the UK's current immigration policy will affect student numbers - his views on the ASEAN Economic communitySee omnystudio.com/listener for privacy information.

Herve Lampert, CEO of Dedon, the global outdoor furniture company from Germany, talks about creating employment for Filipino weavers, adopting cutting-edge technology, and creating an international brandname. Dedon furniture can be found in the Four Seasons, Ritz Carlton, and in the homes of celebrities.See omnystudio.com/listener for privacy information.

While Victoria is geographically the smallest mainland state, it is Australia's most densely-populated state and home to Melbourne, Australia's second-largest city. On the Breakfast Grille is Dr Denis Napthine, the 47th Premier of the state of Victoria, Australia. He discusses, among other things: -- his first one hundred days in office -- The Asian Century -- engaging with Asia for business: the challenges and opportunities -- Victoria's largest export industry, education, which was hit by the high Aussie dollar -- the cost of doing business in Victoria -- Victoria's economy and business sentiment -- Australia's auto sector -- the recent decisions by Ford Australia to close its manufacturing operations in October 2016 -- the upcoming elections in Australia  See omnystudio.com/listener for privacy information.

More than 25 million Africans are HIV positive and AIDS is the leading cause of premature death in the continent. Dr Mitchell Besser, founder of Mothers 2 Mothers talks about his innovative model of empowering women to help HIV patients who are mostly women.See omnystudio.com/listener for privacy information.

- Reason for ETP's creation of PPA and PRS - PRS complements EPF to fund retirement - Comparison of PRS to retirement schemes in other countries - One-third savings is the rule-of-thumb for adequate retirement planning - EPF already providing two-thirds savings, so another one-third savings required - Diversification issues of PRS schemes - Product offerings of PRS will be driven by providers - Default funds of PRS - Growth, Balanced & Conservative Funds - Reasons for high fees in PRS funds - Comparison of PRS fees to Index funds - PPA is focused on the educational process of PRS right now - Funding for PPA - PRS tax advantageSee omnystudio.com/listener for privacy information.

Tan Sri Francis Yeoh, MD of YTL Group on Companies takes time off from Invest Malaysia to joins us on the super grille.  - HSR link: issues  - Update on Yes 4G - subs / breakeven  - Power division update: Seraya in Singapore, Project 3B in Malaysia  - M&A trail: update  - Update on plans to consolidate entire business structure.  See omnystudio.com/listener for privacy information.

Dato' Sri Nazir Razak, CEO for CIMB Group takes time off from Invest Malaysia to joins us on the super grille. - QE tapering - implications:dealfow  - Update: Indonesia operations  - Consumer banking outlook: Malaysia Regional IB ops - Assimilation update (incl RBS) Thai Dual listing: implications   See omnystudio.com/listener for privacy information.

Dato' Lim Kuang Sia, CEO & MD of Kossan Rubber Industries Bhd takes time off from Invest Malaysia to joins us on the super grille. - Demand outlook   - Minimum wage and mechanisation - Rubber prices outlook - Avian flu impact on glove demand.See omnystudio.com/listener for privacy information.

Stewart LaBrooy, CEO of AXIS REIT discusses:  - update on negotiations for the injection of warehouses, hypermarkets or business parks worth RM400m - plans to improve existing properties - oversupply of office space in the market - Phase 1 of KLIFD ie Tun Razak Exchange - main risks he's keeping an eye on - Axiata’s gross yield, which is less attractive than 6.9% average of the more liquid industrial REIT sector in Singapore See omnystudio.com/listener for privacy information.

Tengku Dato' Zafrul, Group CEO of Maybank Investment Bank takes time off from Invest Malaysia to joins us on the super grille. - New CEO - Tengku Zafrul is committed to Maybank - Investment Banking  - where deals will come from - Kim Eng acquisition- how it has helped - Contribution from foreign markets - BII acquisition has paid off - Growth - Looking for acquistion in Thailand - Investment trading for the mass market - Low cost investing in the unit trust industry - fees to expensive   See omnystudio.com/listener for privacy information.

Tuan Haji Amiruddin Abdul Satar, Managing Director of KPJ Healthcare Berhad, takes time off from Invest Malaysia to joins us on the super grille. We discuss: - 10% revenue growth but 5% fall in net profit margins in 2012 - MBBS licence and housemanship training - Training doctors as specialists - maintaining standards when expanding by increasing range of service and geographical locations - balancing bottom line versus most appropriate treatment for patient - hiring of specialists in KPJ hospitals - his plans for the group after taking over in January 2013See omnystudio.com/listener for privacy information.

Melinda Ngew, CEO of The Automobile Association of Malaysia joins us on the breakfast grille. Established in January 1932, the AAM is perceived as the official voice of Malaysian motorists. Between 2005 and 2010, AAM lost almost 35% of its members - prompting the AAM to bring on board Melinda Ngew with her vast experience in the service industry and, in particular, her experience in membership recruitment programmes. We discuss: - working in a male dominated environment - challengers of changing mind sets of long serving staff and shaking the NGO mentality - the inefficiencies of a non-profit organisation - KPIs a new measurement in the organisation - AAM more than just a breakdown service - how AAM intend to grow the membership base from a stagnated base - low membership outside of the Klang Valley - what AAM offers that differentiates them from competitors - why 96% of all AAM breakdown calls come from within the Free Breakdown Zone. An issue with the structure of membership schemes perhaps?   See omnystudio.com/listener for privacy information.

Pamela Hartigan, Director of Skoll Centre for Social Entrepreneurship at Said Business School, Oxford University demystifies social entrepreneurship and how the movement is taking root.See omnystudio.com/listener for privacy information.

Jane Wurwand the founder and CEO of Dermalogica, the professional skincare brand, is on the Breakfast Grille.  She discusses: --  How she identified the gap in the skin care market between professional salons and at-home users --  Dermalogica’s philosophy as a company --  The brand's positioning --  Her business approach: never taking a bank loan or paying for advertising --  Operationing elements of the business; R&D and testing --  Breaking through the male skincare market --  Dermalogica's teen skincare line --  Challenges as Dermalogica grew nationally and internationally --  Why Dermalogica never went public --  Exit strategy in the future and if they would ever consider selling the company to a bigger cosmetics player --  Dermalogica's commitment to assisting women entrepreneurs and to community investment on a local and global scale  --  FITE (Financial Independence Through Entrepreneurship) and Dermalogica's partnership with KIVA.org, a micro-lending website, to help women around the world launch or grow their businesses   See omnystudio.com/listener for privacy information.

Co-founder of Trend Micro, Eva Chen, talks about her initial hesitation to take up the job as CEO, and her current ambition to make Trend Micro the biggest cloud security company. Trend Micro is among the largest security software companies in the world, and Chen has been ranked among the most influential women in Asia.See omnystudio.com/listener for privacy information.

Kiran Mazumdar-Shaw, chairman and managing director of Biocon India, talks about her company's strategic position as it competes against the giant pharmas with deep pockets. Mazumdar has been listed among the most powerful women in business.See omnystudio.com/listener for privacy information.

Jim Rogers, Investor, Author & Chairman of Rogers Holdings, joins us on the Breakfast Grille. - Quantitative easing - the worst is yet to come. - Capitalism is a flawed but only way to manage economies. - Unfazed by Singaporeans' dissatisfaction with foreigners. - History has shown that nations benefit from immigration and every country including Malaysia has a lesson to learn from it. - Freedom of expression is essential for any country. - China will is on a long term growth trajectory, will get over problems in the financial sector. - Still bullish on commodities. - Gold price will see further falls but will be a buyer at lower levels. - Shale gas craze has died down. - Price fixing in commodities will only shut down supplies. - We are going to see very painful food problems in the future. - Still on the lookout to by commodities businesses. - Invest in what you know. - ETFs are here to stay - they are better, more efficient and cheaper than mutual funds. - Family enjoying Singapore.See omnystudio.com/listener for privacy information.

Yonah Lloyd, President of SodaStream, joins us on the breakfast grille. SodaStream started in 1903 in the UK and is now NASDAQ listed, acquired by Israeli company Soda-Club along with private equity fund, Fortissimo Capital Fund when Schweppes was spun off from Cadbury in 2007. On June 6 reports emerged that PepsiCo had made an unsolicited approach to acquire SodaStream. We discuss: - whether there was any truth in the PepsiCo rumour - interest amongst the investor community in SodaStream - their advertisement for the SuperBowl which was banned - controversy helping their marketing campaign - how the business has grown its revenue by over 33% per annum over the past five years - SodaStream's popularity in the US and in Europe - expansion into less developed nations - the upfront cost of SodaStream versus buying a bottle of soda from the shops - objections and petitions from Palestinian supporters due to SodaStream's one plant in the West BankSee omnystudio.com/listener for privacy information.

Chuck Abbott, Regional Vice President, Starwood Hotels & Resorts SEA , discusses:  - Quick update on Starwood’s properties in SEA and how this compares with just 5 years ago?  - Reasons - trends - Managed / UJV (187k rooms) and Franchised (129k rooms) form the vast majority of total rooms (341k worldwide) - Why are these options preferred over the traditional owned and leased route  - Explain this for us: under your Managed/UJV division, you have twice as many luxe-level St Regis hotels in Asia-Pacific (10) than in North America (4). Even Latin America (7) has more?  - What's Starwood's reading of the US economic recovery? Are more dollars being redeployed Stateside now or is it still under evaluation?  - Certainly, news of the big chains like yourselves, Marriott, Intercontinental and especially Hilton devaluing their respective loyalty programs for business travellers do not bode well ..  - Certainly, the Asians and in particular the Malaysians (such as the Genting group) have some belief in the US: Miami and NY in particular .. whether Starwood and Genting are interpreting the same market differently  - From a revenue management perspective how does Starwood interpret the SEA markets and is it greatly different from say a China interpretation - Occupancy rates - Rest of Asia at around 75% a good deal better than Total Worldwide numbers of around 66% - whether these are good numbers- Realistically what are the best achievable occupancy numbers for a chain like Starwood - Revpar: despite all the hype about this region: Q1 Revpar for ‘Rest of Asia’ (ie non Greater China) grew just 5.6%: not much higher than the Revpar growth for the whole group (4.7%). Reasons  - Competition - especially in Asia, where the low barriers to entry under the franchise, fee-based model mean a whole bunch of new entrants with a potentially closer brand affiliation to Asia (Banyan Tree springs to mind)  - Traditional real estate-based / owned route seems to be dead and buried: in Starwood’s case you are aggressively upping your fee-based business. What data points back your conviction?  - From an operational standpoint what does this mean: adopting and honing new management skillsets in working with landowners and developers? What challenges do these in itself pose?  - Biodiseases - recent SARS outbreak in HK and China - impact of  - Recession / downturn - breakdown of visitors / guests from Europe and North America - impact of  - Expansion: China seems to continue to be all the rage: to what extent does this affect SEA growth plans if at all.See omnystudio.com/listener for privacy information.

Victoria is a state in the south-east of Australia. While it is geographically the smallest mainland state, it is Australia's most densely-populated state -- and home to Melbourne, Australia's second-largest city overall. Tim Dillon the Victorian Commissioner to Malaysia and South East Asia is on the Breakfast Grille to explain more about facilitating trade and investment opportunities in the state. See omnystudio.com/listener for privacy information.

Katrina Legarda, chairperson of AirAsia Foundation, talks about charity giving in Asia, how the foundation will do things differently, for example it may consider the microfinancing model, and challenges they may face.See omnystudio.com/listener for privacy information.

The Appropriate Infrastructure Development Group was founded in 2005 to empower locals to start their own businesses that bring clean water, electricity and sanitation to their communities. Peter Haas, the co-founder of AIDG, is on the Breakfast Grille to talk about the communities it helps, keeping AIDG's projects self-sustaining both financially and operationally, as well as the changes taking place in the impact investment space. See omnystudio.com/listener for privacy information.

Universal Music Group is the largest of the Big Three music recording companies, the other two being Sony Music and Warner Music. Today on the Breakfast Grille, Loan Cheong, the Managing Director of Universal Music Malaysia, weighs the survival of the music industry in the age of digital music and streaming. See omnystudio.com/listener for privacy information.

Oscar De Bok, the CEO of DHL's Supply Chain division for South & Southeast Asia, discusses:  - Supply Chain business - details;  - Key supply chain industries: Automotive - Consumer - Healthcare and Life Sciences - Industrial, Engineering and Manufacturing - Retail and Fashion - Technology - and how DHL addresses their individual needs;  - Environmental Management & Sustainability;  - A greener logistics solution; - Disruptions - Thai floods and Fukushima tsunami; - ASEAN: opportunities - pros and cons; 30% Indonesia 30% Thailand 30% Vietnam - Malaysia - Singapore- Malaysia - not high on the list of DHL’s investment - issues;  - The Malaysian proposition - Pros and Cons;  - Cost of doing business - cost inflation across the board - especially in Indonesia;  - Global talent shortage -- plans to up staff strength by over 65%; - Natural disasters, biodiseases, terrorism;  INDONESIA - Boston Consulting suggests that the consumer segment is booming -- and that its middle- and and affluent-class would double to 141 million by 2020 -- more than all of Thailand;  - Indonesia is a massive initiative for you: $52 million and a plan to double your vehicles, hire 70 percent more staff, and add 60 percent more warehouse space. And, a third built-to-suit warehouse in the countryv - Challenges: unpredictable regulatory environment, a high level of corruption, inadequate infrastructure and rising labor costs;  - Inflation as the headline concern - fuel, food and transport are all big movers - passing on these costs to customers;  - Global talent shortage -- plans to up staff strength by over 65%: how- Corruption.See omnystudio.com/listener for privacy information.

BMW Group Malaysia MD Dr.Gerhard Pils discusses:  - Feedback on the challenges of the role thus far;   - Details of business plan, execution and report card;  - Sales targets - 2013;  - As at April 2013, sales update;  - Asia sales picture - health of - Malaysia;  - Sales rank by country - Malaysia / Singapore / HK - details;  - Shanghai Auto Show -- feedback;  - New model / variant rollout plan;  - (Plan for) electric vehicles / Performance Hybrids;  - 'Connected' cars; - Competition: Germans - Italians - South Koreans at lower end;  - Warranties / accessories - why not competing on warranty periods;  - Comparable periods in Germany;  - Whether shorter period a reflection of the poorer assemble quality in Malaysia;  - Car prices - excise duties;  - Expectations for govt promises to cut car prices - to be progressive - 'shock' to system;  - Tax regime -- NAP - details;  - Quality / innovation issues - advancement levels vis-a-vis industry subsidy;  - ‘Defrauded Industry’ - how much bigger would the market be without the APs and the grey market it feeds;  - AP rationalisation -- promises and keeping them;  - A cleaner drive: govt promise to introduce Euro 4 specification for cleaner fuel -- whether has come true;  - The need for a ‘comprehensive roadmap’ - NAP - issues;  - Emissions - excise holidays;  - Financial issues: service centres - revenues;  - Structure and corporate -- appropriateness - manpower - costs - logistics - qualitySee omnystudio.com/listener for privacy information.

Dzameer Dzulkifli the Co-Founder & Managing Director of Teach for Malaysia is on the Breakfast Grille. The Teach For Malaysia Fellowship is a full-time, two-year programme. Fellows are placed as teachers in high-need schools focused on addressing education inequity in Malaysia. Dzameer discusses: -- Why education inequity is the biggest problem in education, and the root causes of the inequity -- How some of the brightest young minds, through Teach For Malaysia, help address this in high-need Malaysian schools -- What is considered to be a “high-need” school and some examples in the Klang Valley -- If the 2-month training course is sufficient preparation, and the on-the-job support given to fellows -- If high-needs students are actually the children who most need veteran teachers instead -- TFM's ambitious goal for the 2014 Cohort for 100 fellows -- The number of applications received so far, and the number of accepted 2014 Fellows to date -- Elevating the perception of the teaching profession -- A teacher's salary at the entry level -- Garnering the support of the faculty at schools -- Working with the Ministry of Education -- Funding for Teach For Malaysia and expenditure And finally, we ask Dzameer the one thing he would change about the education policy in this country. Listen to the podcast to find out what it is! See omnystudio.com/listener for privacy information.

Investec MD (M&A and Equity Capital Markets) Nanda Kumar Menon discusses : - SPACs - an alternative vehicle for mining assets - Malaysia was historically a mining country- Independence of banks - finding a balance between straddling roles of M&A/ECM and investment advisory - Investment banking fees vs plumber  - M&A valuations- a subjective assessment of what upside is - IPO price jump - part of the business’s cost of financing - should always leave something on the table for investors - Privatisations:   -  shield restructuring process from very short term market demands                                -  reward to privatiser for risk-taking during unlisted period  - M&A trends - natural resources demand still strong especially from China and India - Fast depleting supply as well - scarcity driven M&As  - Mining assets long gestation periods - important to plan for supply  - Recent price crash of gold - just a little correction in the long term bullishness? - Gold  is harder to correlate to GDP - very much a probability game based comparing current prices to estimated future demand going coming from govts and consumers - SPACs are interesting because it brings mining co’s to msia which are usually listed overseas - Mining is alternative to Oil & Gas sector which Malaysia is strong in  - The risk assessment processes for investors are similar - The source of a lot of mining investment funding actually comes from AsiaSee omnystudio.com/listener for privacy information.

Mario Oriol, Deputy CEO of Patentes Talgo SA,  joins us on the breakfast grille. Talgo recently announced thier intentions to bid for the KL - Singapore HSR project. We discuss: - whether generations of family participation strengthened the business - abandoning an attempt to list in Spain in the middle of the financial crisis - Talgo's experiences outside of Europe - how they will compete with other known HSR providers who already have a presence in Malaysia - the advantages of a Talgo's duck shaped train - the RM30bn earmarked for the project - the future of Asian rail connectivity - the challenges of and how to deal with varying track gauges (width)See omnystudio.com/listener for privacy information.

Goh Wee Peng, fixed income CIO for Aminvest talks about : - Massive liquidity in the system; - More rate cuts in expected in eurozone and various Asian countries; - Weak growth outlook to cap interest rate upside; - Bonds still offer decent returns due to yield premiums over Malaysian Govt Securities and fixed deposits; - Fixed income investors shouldn't time market but may look into lower grade bonds and high yield stocks in the search for yields; - Regional local currency bonds may be a good idea-Net of currency effects may be able to achieve overall yields of 8-9% in certain countries; - Foreign inflows into MGS is strong to take advantage of the firm ringgit.See omnystudio.com/listener for privacy information.

Dambisa Moyo, the critically acclaimed author of How The West Was Lost and Dead Aid, is on the Breakfast Grille to discuss her latest book, 'Winner Take All: China's Race For Resources and What It Means for the World'. Dambisa was chosen as one of Time Magazine's 100 Most Influential People in the World in 2009. She holds a PhD in Economics from Oxford University and a Masters from Harvard University Kennedy School of Government, and has worked at the World Bank and Goldman Sachs. She was born and raised in Lusaka, Zambia. In her book, 'Winner Take All', Dambisa details how China has embarked on one of the greatest commodity rushes in history. She examines what's at stake as nations compete over increasingly scarce commodities and the economic implications of China becoming the lead buyer of the world’s resources. She also discusses how China’s interest in these countries exclusively in the resources itself and not in social or political involvement in the host country -- as we’ve seen with Western Colonialism. Dambisa also shares her findings as to how these host countries view doing business with China.See omnystudio.com/listener for privacy information.

Instacom Group Bhd is a Sarawak-based engineering and construction company that provides support services to the telecommunications industry. It’s ACE market-listed, with a market cap of 242 million ringgit and counts Maxis and DiGi.Com as among its anchor clients. Recently it’s been making the headlines and catching the interest of investors after it scored a 205 million ringgit telecom network and infrastructure project in Sarawak. On the Breakfast Grille to tell us more about the company is Anne Kung the CEO of Instacom.See omnystudio.com/listener for privacy information.

Azim Mithani of Prudential BSN Takaful joins us on the Breakfast Grille to discuss: - what he brings to the organisation and how he has changed things up - similarities and differences of takaful and traditional insurance businesses - Pru BSN Takaful's sales channels - caps on agent commissions and whether the insured will bear the cost - focussing on products that address the wider needs of the consumer - market penetration and how to increase demand - muslim versus non-muslim uptake on takaful products - investment returns on assets under managementSee omnystudio.com/listener for privacy information.

In this 2013 interview, Zainal Amanshah, the CEO of InvestKL discusses : - KL’s global and regional rankings have to be looked at holistically - Relative attractiveness as a business hub - Anchoring qualities - Complementary with Penang and Iskandar - Twin cities concept - Good deal pipeline - Positive impact on GNI and jobs - KL’s 5Cs - Effects of political rhethoricSee omnystudio.com/listener for privacy information.

In this 2013 interview, Kulvinder Birring, the Managing Director of Watsons Malaysia,  - Biggest developments since last interview;  - Store - updates - concentration - areas / cities;  - Store openings: timetable - target number;  - Training - service issues -- quantum of improvement -- how much more improvement needed;  - Value of personal, health and cosmetics; - Primary drivers;  - Noticeable themes - spending power, brand arrogance;  - Store openings: no. per year - underlying considerations;  - Growth path - health business - five-year plan; : No. of pharmacists;: No. of health advisors;  - Apex Pharmacy - update - assimilation;  - Drivers - ideology behind the purchase;  - Futurely? Ideas and themes;  - Indonesia market - purview - targets;  - Country revenues and profits - Performance since 2009 - growth numbers;  - Margins;  - Health or beauty: which enjoy better margins;  - Implications of being part of the AS Watson Group, in itself part of the Hutchison Whampoa Group.See omnystudio.com/listener for privacy information.

Foster + Partners' head of design, David Nelson shares his thoughts on globalisation of architecture, preserving heritage, and designing low cost housing and learning spaces. Among others, the firm designed the landmark HSBC building in Hong Kong,  Masdar City in Abu Dhabi, the Hearst Tower in New York, the new City Hall London, and the renovation of Reischtag, Berlin. In Malaysia, its projects are Troika condominium in KLCC and  Universiti Teknologi Petronas.See omnystudio.com/listener for privacy information.

In 2008, INTI became a part of the Laureate International Universities network, which is the world’s largest operator of private universities. The CEO of INTI Education Group Amit Sevak speaks to us about INTI's academic programmes, its faculty, the employability of INTI graduates and the importance placed on university rankings.See omnystudio.com/listener for privacy information.

Pangolin Investment Management founder and principal James Hay discusses:  The Fund:  - Positioning - value not small cap -- research house that "occasionally buys stocks"; - Pangolin is an absolute return fund - “sustainable” credentials - no timber or plantation companies - and no cyclicals;  - Why size - tiny - issues;  - Asset allocation; MY - ID - TH - SG;  - Investment details: > no. of companies invested > no of companies under analysis > preferred sectors> Growth drivers: MY/TH/SG;  - Investment conditions - two-month notice period for redemptions & fees - 1.5% annually - 15% performance fee above high watermark - ISSUES;  - Fund performance - Pangolin Asia Fund since 2004 - performance - annualised return;  Malaysian Market:  - Historically a Malaysian bull -- plus you live here (since 1993) - but has since 1998 been the most undervalued market in Asia .. as well as being the “least understood” - issues;  - Valuations - undemanding in small cap space - issues;  - Whether recent rise reflects dearth of opportunities;  - Small cap - value traps - thin liquidity - need for catalysts;  - "Patience" -- details -- investor patience - issues; - Malaysia “undervalued” historically -- still so?  Company Management - Management calibre quite critical for long-term holders like yourselves -- issue of major ownership and poor enforcement of market governance;  - How worrisome has the recent spate of privatisations and buyouts been;  - In the wake of Yeo Hiap Seng’s exercise you mentioned that you expect many more to follow - issues;  - Whether feels major owners have a duty to offer a fair price to minorities;  - Institutional framework: what more would you want and expect institutional funds to do on monitoring companies; Elections  - Malaysia’s nuances - mud-slinging / shenanigans - "the norm" in developing nations - issues;  - How Pangolin irons out these concerns.See omnystudio.com/listener for privacy information.

Matrix Concepts Holdings Bhd Chairman Dato' Haji Mohamad Haslah bin Mohamad Amin discusses:  Its IPO Exercise:  - Brief rundown of business model: property developer - focus on Johor and Negri Sembilan;  - Chairman's role - executive role -- is also the Chief Executive Officer of MBI -- or Mentri Besar Incorporated, a Negeri Sembilan State owned entity (a role you have been in since 2004) -- whether this gives Matrix an UMNO-linked element;  - Retail portion -- tiny @ 10 million new shares of the 62.6 million new shares on offer - issues;  - Placement: huge @ 44 million new shares - Identity placees - time horizon - profile;  - Valuation - net PE of 6.4x / 39% over consolidated Net Assets per share - issue;  - Hugely profitable as a private company: 104 million ringgit PAT on 456 million ringgit revenue in 2012 - GP Margin of 43% -- reasons for going public;  - Market capital - 660 million ringgit - dozens listed property players, many trade well below NTA - visibility;  - Offer for sale: disposing parties: Ambang Kuasa - Magnitude Point - Target Venue - Meridien Effect - Fine Approach - Ambuang Kuasa bought its 30 million shares at 22 sen each: ie a tenth of the 2.20 ringgit offer price - issues;  - Advisers as Hong Leong Investment Bank and Kenanga Investment Bank - fees - ability - issues; Positioning:  - Approximately 82% of new launches located in Negeri Sembilan to take advantage of Greater Klang Valley Conurbation;  - Retail - industrial - commercial - mix - investees - demand outlook - psf values - price outlook - issues;  - Location - issues - buyer profile;  - Bumi buyers - bulk of new purchases here - issues; - Johor - Kluang - project details; Corporate:  - Net cash - dividend policy;  - Landbanking? Outlook - details: location - project types;  - Future projects See omnystudio.com/listener for privacy information.

ORIS Regional Manager Karim Gerber discusses:  - Ownership structure; - Salon International de la Haute Horlogerie;  - Perceived competitors;  - Why only mechanical - less accurate and more expensive;  - Why dedicated to personalities;  - Desired positioning in global watch markets;  - Seen as a poor man’s Tag .. rightly or wrongly;  - Reports of luxury watch sales hitting record levels - issues;  - How the global downturn has done wonders for the industry - issues;  - Malaysia - marketing spend; - Luxury taxes;  - Number of outlets; - Number of watches sold annually;  - Heavy discounting - brand image - implications;  - Knockoffs - counterfeit - issues; See omnystudio.com/listener for privacy information.

Carlos Lacerda, the Managing Director of Microsoft Malaysia, discusses: - Feedback - Malaysian market - similarities with Southern Europe - honeymoon over; - Malaysia opportunities - bottlenecks; - The next wave of growth be for Microsoft in Malaysia; - Education a clear area for Microsoft’s strategy in Malaysia - strategy - elections outcome - education minister; - Strategy - government as the client - leakages - corruption; - Malaysia’s ICT sector spending - market share - growth slowing - fewer PCs sold - Windows as Microsoft’s core product - challenges; - The shift away from hardware purchases to software and services - strategy; - Superior credit rating - issues; - Piracy -- update; - Business update - mobile - tablets - services.See omnystudio.com/listener for privacy information.

FUJIFILM was first established in 1934, with the aim of domestically producing motion-picture films. But the rise of digital photography had the company rethinking its business structures. FujiFilm now makes a wide range of products from digital cameras and protective film for LCD screens, to medical equipment and cosmetics. FUJIFILM Asia Pacific’s managing director Hiroyuki Sakai is on the Breakfast Grille to tell us more about the corporate reforms the company has gone through and its ability to innovate and diversify into other products to remain competitive. See omnystudio.com/listener for privacy information.

On the Breakfast Grille we have Jeff Price, the managing director for Decision Analytics for Experian Asia. Experian is a global information services company. For Decision Analytics, it is when the company creates products to help in areas such as strategy and debt management and anti-fraud solutions. He also talks about: - How they make data make sense to businesses and what does it mean for the bottomline - How they deal with competitors such as TransUnion and Equifax - Experian's strategy for Asia and for Malaysia - About the group's new products for the yearSee omnystudio.com/listener for privacy information.

Today is May 6th, 2013. The Morning After Malaysia's 13th General Election. BFM's Melisa Idris speaks to Bridget Welsh, associate professor of political science with Singapore Management University, for a post-mortem on yesterday's elections, and what we can learn from what went right -- and what could have been done better.See omnystudio.com/listener for privacy information.

Sony Pictures Television Networks Asia, Vice President, Asian Content, Virginia Lim comes on the Breakfast Grille to talk about One HD, its top channel that shows Korean content. The recent Korean wave has been everywhere, however, it has always been hard for Asian content to break into the Western mainstream. Other talking points include: - What exactly is it about Korean content that makes it popularity so far reaching? - Whether it will last or die out like other fads have - About the spiralling cost of content and what does this mean when the popularity has died off - On whether this means that there will be a revival of demand for Asian content in the West - On whether Sony will continue to partner exclusively with Astro or whether it will sell to any of the newer Pay-TV operators See omnystudio.com/listener for privacy information.

Bill Lisle, the CEO of AIA Bhd., answers the following questions: -AIA’s purchase of ING’s Malaysian businesses. Worth $1.7 billion, it reportedly gave AIA the No.1 mantle in Malaysia while extending your lead over Prudential in Asia. Has the money been worth it? - AIA now has 25% of the Malaysian market. What does this mean in terms of new growth prospects? Does this now make Malaysia more of a cash-generative market rather than a growth sector? - The “protection gap” in Malaysia, which stood at $380bil in 2010, and has doubled over the past 10 years. What exactly is this? - Integration costs have reportedly hurt margins. Where is most of the integration spend going?- Timetable before full integration occurs - All hands on deck, therefore, to integrate ING. Tell us how it's going, both good and bad. > Agencies? > Distribution? > Branding, customer engagement? - Insurance industry - penetration - dynamics - demographic - What does this mean in terms of building on your vast market share? - And where are the growth pockets? Takaful could certainly be one area .. - You have said that one of the ways AIA will grow is with technology: the launch in January of a tablet-based application called ‘interact live point-of-sale’, where agents are able to conduct insurance business using the tablets and policies could be issued in less than an hour.How much of a game changer can this be? - And your >16,000 insurance agents -- attrition - Agency generate about 75% of new business -- will be rebranded as “life planners” to reflect the greater role they would play. 10% Bumi agents right now What kind of greater role? And just what will a simple role redesignation mean in terms of mobilising this army? - You have spoken of attracting more Gen Y agents … - Bancassurance - plans to grow its bancassurance relationship and takaful business through its own takaful company and ING Public Takaful Ehsan Bhd which was formed by ING, Public Bank Bhd (PBB) and Public Islamic Bank Bhd, a wholly-owned subsidiary of PBB. Problem is, takaful is an Islamic product and Public is a Chinese bank. Are you not therefore preaching to an already converted market? - AIA is also one of the eight private retirement scheme providers. But months after winning accreditation, we have yet to see some concrete products? - Granted, ING has just been purchased, but as at fiscal end-Nov., which is your financial year-end, AIA as a group posted a 27% percent jump in new business growth. Malaysia grew just 17 percent. Reasons - And on an Asia-wide basis, at about $30 billion AIA is nearly double the Pru in embedded value-terms. But margins are smaller. And so is top-line growth. This centres on the fact that around 55 per cent of AIA’s embedded value (a measure of future profitability) lies in Hong Kong and Singapore. These are developed countries, which are seen as generating cash rather than growth. A problem in a fast-growing Asia? - Elections - market implications - cash levels? See omnystudio.com/listener for privacy information.

On the Breakfast Grille this morning we had Annamalai Muthu, the country manager for BlackBerry Malaysia. Formerly known as Research in Motion, the smartphone manufacturer was once the market leader but has since lost ground to its competitors. Now with two new products in the offing, BlackBerry is hoping to regain its crown once more. Other talking points include: - The recent earnings of the US-listed parent and what is the outlook over the next few months - If this gambit fails, what is BlackBerry's Plan B - What is the outlook that BlackBerry has for the Malaysian market in terms of smartphones - How has BlackBerry approached this launch and whether the company used a different tactic to get its products out there compared to before - Whether LTE/4G will prove a catalyst for growth in the smartphone marketSee omnystudio.com/listener for privacy information.