Agro Talk | Entrepreneurship in Malaysia - Redesigning Business Models For The Digital Economy

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progress in [Music] unison it is when our efforts become your success thus conclude to the greatest achievement [Music] hello everybody welcome and welcome to this very interesting session we're gonna have a webinar and it is uh so you can see the title up there in the top hand of uh in the top top above my head okay just don't say top left or right i'll confuse myself above my head and the topic is on entrepreneurship in malaysia but specifically talking about how you can redesign business models for the digital economy i know the word redesigning business model sounds like oh what is this when it sounds very heavy right you got to go and do a masters or mba you know a phd to get this no we've got three executives uh two of whom are entrepreneurs to talk about how you can utilize technology in the form of digital tools right to help you become a better entrepreneur and for those of you who are thinking of becoming entrepreneurs this also will be a great session for you to realize the kind of tools that are available out there for you to use and hopefully some of the speakers can share little anecdotes of how other entrepreneurs right especially in the agriculture space because you know we are being hosted and this is a session by agrobank to talk about how agriculture nowadays intersects with technology especially digital's rules right to help everyone go out there become uh better entrepreneurs become more productive for your businesses to become more competitive also which is super key right we've got three panelists and what i'm gonna do is we're gonna start uh introducing the the panelists uh uh sequentially and uh we're gonna you know start with a a very interesting gentleman uh by the name of of afrik first name i'm i'm friendly with all of them now i'm just going to say afiq and the thing you want to know about africa is there's two key takeaways from afiq he was a student studying business in new zealand and in his final year he actually started his own company and if i'm not wrong he says that he claims he was the first malaysian student at least to start to become an entrepreneur also while still a student in new zealand and even more amazing he even started a charitable trust in his final year because he wanted to help people out there which is quite amazing uh so let's bring on affect to the to the to the camera and afric will start with two minutes of some key thoughts from him hi everyone um thank you karanjit for inviting me and of course to our fellow audience it's glad for me to be part of the team who giving this webinar for today so my background is actually electrical engineering but then i jump off to this entrepreneur's journey and and build up a few multiple companies and also lead up the organization called my fun action as part of the executive directors um yeah so that's a bit about me so sorry what just a quick one i think yeah when you say my fund action are you focusing on my fun fun or my fu nd fund and action uh it's it's actually as a whole like um if you have funds and you don't take action for the funds that you have then it's probably uh not good so we try to make um the fun that we have um as much as possible giving to the communities and also uh to make it efficient and to make it optimized so um that's why uh it's my fun action okay all right fine understood so okay so you wanna just sorry i was interrupting you there but i was just curious about that so uh what are some of the key you know uh opening uh any any opening thoughts here on this session oh yeah so so uh as we all know that uh the topics for today is to redesign the business models for digital economies right so i want to emphasize more on the digital digitalization of the customer experience we want to divert from having these retailers kind of business models and then you want to get ventured into this e-commerce platform um some people and a lot of a business owner especially the small business owner they're having a hard time to divert everything into this one platform so um yeah so so i want to emphasize more on that and what sort of mindsets um that these entrepreneurs should have in terms of having an agile team and also navigate through uh throughout this kind of economy especially during this uh endemic time uh okay cool i think yeah when you use the word agile also a lot of people will be wondering you know nomi agile you use for a software right so entrepreneurs should be flexible and adaptable then you use the word a software term into a business you know proposition so i i suspect it means the same thing but people just want it to sound cool yeah yeah it's just the same thing but you know throwing jargons and all you know yeah and the journey of being and make no make no uh bones about it the journey to become an entrepreneur is is very difficult and very challenging which is why sessions like this are very useful to help you and make you aware of all the various tools and experts that are out there to help you and institutions like agrobank that are there to help you also okay great afrik thank you for your thoughts and we will uh have you back later to do you know for some questions so let let's get a b cash on now okay so b cash hey uh i've i've known big cash for like uh quite a long time now definitely for the 10 years that i've i've been a a a journey i've been running dna so when i started i didn't introduce myself so i'm a technology generalist and my name is karamjit singh not important at all important is how we want to get all this inside out the out of the heads of these three people we have with us pikes is considered one of the leaders of the malaysian startup ecosystem and he's not just a leader in malaysia because he's also recognized as a leader in the southeast asian scene so i'll just leave it at that bike you maybe you want to just share your opening uh two or three minutes opening opening thoughts on this topic and its importance or whether it's even whether you feel it's even important okay yeah so the whole notion of you know it's possible therefore you have to do something different so i think it depends on the organization so business models are very key to anyone trying to doing well in terms of getting sales for sure there are many different business models out there but the idea what you always have to go back to the fundamentals is you know why shift if things are not broken so if you feel that the organization is suffering from sales because of covet you're not the only one i mean everyone's the sales loss but the idea is what happens after right so for a few people things will go back to normal like the hotel industries you know they can basically go back to normal now it was just about holding out but there's another like you know mix of two crowds of customers that you have where behaviors would have changed a little bit or completely entirely changed and there would be a big drop so i think if you realize that there's some stuff to think about later you belong in a boat where things have not gone well and it's not going to continue going well post dynamic then yes you'd want to revisit the business model and find new ways to basically do something but you always go back to the root fundamentals right you know what is how do you make money what a stakeholders and you know the behaviors of the stakeholders change and then you decide on it don't just change for the sake of changing it has to basically be responding to market classes so let's talk about some of those things okay fine cool so uh because when i when i bring you back on because you're you're uh sounding a little bit faint so you can just maybe bring your your microphone device closer so what i love about bikeshare so he's he's him being on this session now in his car just shows how technology has broken down barriers right you don't need to rush into a building and you don't need a fixed piece of infrastructure right he sees uh and that that technology is is all of us have it in our hands right as long as you have a phone you have you're confident that your service provider your telco has got reliable connectivity for you you can appear in you know webinars like this anywhere and everywhere so wonderful thanks for that micro lesson for all of us uh because okay so we are in the in the age of micro credentials right so that's a micro example a lesson for us and now i'd like to bring on a czech cathedral who is the covering president and ceo of aggro bank who is also our host for this session if you can have one kadija on okay hello welcome to the show and pon katija you i'm giving you the hard job you don't have two minutes opening remarks you know you're gonna be straight away answering some some questions but before that i would just like people to know that you are actually a uh accounting graduate right from from the the lovely state of denver colorado i say lovely cut the rocky mountains are there so i hope you don't get any questions about hey you love skiing or asking you for any ski tips that may come i don't know but also one more one more thing significant is that one cutting is recognized as listed as among the most influential women in islamic and uh and in in most influential women in business and islamic finance by a magazine called a woman and that was only last year so that's the the the gravitas of the ceo before us so jumping straight into the question for you uh ponca what uh and you know because this is very important right because banks and especially a development bank like you you don't work in isolation so what are the current strategic collaborations with digital partners do you have and what are you looking for even with future partners because there may be some people listening who may say hey i want i believe my organization can can be your valued partner to the bank okay first of all thanks for the lovely introduction first of all i would like just to share that agro bank actually the the purpose of our existence is first of all you were established in 1969 yeah way back in 1969 i think yep 1969 where the focus of existence is actually to help to increase the productivity of a body yeah very production so we are part of those set up those days yeah so that's why we exist and what is interesting then we we first existed because we need to improve the production and therefore meaning yield and now we are still talking about improving the yield by use of technology so we have not changed since then the purpose of existence is to support the agriculture sector so what we have done all the while we do have our financing that we offer to the customer correct of equipment financing so before this we have our product and we try to sell that equipment but now when we talk about technology then we have to find partners who can actually value add to the product that we have right so existingly just last in april 2021 we work with mtdc where we have uh educated about bringing malaysia 10 million to 200 participants what is interesting we work with mtdc which is the technology provider and we will provide the financing okay the one that benefits this mostly are actually entrepreneurs they could be step up and they could also be youth you know so at the same time we have also invited an anchor which will give an assurance for the marketing part of it yes so there will be an optic arrangement with the anchor as well as the technical advisory part so that's what we have done in with mtdc in the past one of the examples so what is happening currently as announced i think in budget 2021 there's an allocation of 16 million for the agriculture value chain modernization uh the financing will be channeled through agrobank so this is in collaboration with mafi yeah and at the same time we also when you say marty is this the malaysian agriculture research development institute it's mafi ministry of agriculture and food industry or the ministry itself okay i thought i heard mardi as i okay they almost sound like yeah just a little bit of background april bank is actually an agency under mafi previously known as a ministry of agriculture this is an extension to it ministry of agriculture and food industry so we are an agency under murphy so if there's any fund that is allocated to murphy most of the time it will be channeled to us i understood so there is one fund that is available now and then oh sorry so when you say the fund available the 60 million ringgit because we're already in the in the q4 right of this year is there still funding available if somebody's listening wants to apply all wants to let a friend know or family member though yes it is for the agricultural value modernization financing and another fund that is available in agrobank is for the vessel modernization and capturing mechanization this is all for the fishermen oh okay we'll upgrade their vessels you know so they can go deeper to the sea and then um that is for the location of 150 million again we are working with an agency under mafia as well yeah department officially okay so those so far we have been working with our agencies but we are also we have something in the pipeline where we have quite about i think five of the partners that are the technology providers that also looking looking at for the same purpose actually yeah so these these partners also involved in accelerated accelerator program as well as um you know sandboxing activities so we we are involved we have identified these partners because in our business plan that is actually one of the initiatives we want to do more than just the traditional uh financing right want to work with partners and then support also the government agenda in modern modernizing the agriculture sector actually so one of our strategic focus areas is actually modernize the agriculture sector as well yeah support the development of the agriculture sector so i uh for now um i'm not able to share the details yet because it's still uh it's still at the it's not at the early stage but we have not really made the official announcement yet i see so you can wait and stay tuned for more information from us yeah so yeah so i i advise you to to go to uh maybe follow the bank on facebook where they've got like 65 000 uh followers and on the way to 100 000 which is the high target that pon khadijah has set for a team or you know you can probably uh uh get yourself onto the database email database also so they can keep you informed so it's great to hear katija you have mentioned a few times a word that i love which is that we want to do more right and you're already doing more with programs and the key word about doing more is about you're saying increasing productivity right so when you increase productivity agriculture the yield goes up and of course then you've got more product to sell to the market so that's uh i'm already quite quite happy with what i'm hearing from you and your only you know your first first question really so okay with that now uh and also the fact that you said there's still funding available which is very important so let's now uh katija i will uh bring on uh afiq again and i do want to ask him a question and so uh afric if we can get you to share the screen with me okay so affix uh so look the topic of this session is about redesigning business models right for the digital economy uh what do you feel are the challenges right entrepreneurs are experiencing or they will experience in trying to adopt technologies when they're trying to diversify from just physical selling right into e-commerce and coincidentally on dna we just ran a story amazon in singapore because we also cover singapore amazon in singapore did a piece of research i think they interviewed 300 m sms micro and smes in singapore and it found that one third of them was successful in in exporting their products also leveraging on on digital right so when they they're there and the entrepreneurs there are saying that we want more help from government and government agencies also and even more help in advising them apparently one of the big gaps so you think singapore is an advanced economy and they're quite savvy even the uh msm smes they are saying that they feel that there's a knowledge gap they don't have enough knowledge and get and which is one of the reasons why we're having this kind of webinar also so okay here just just that any recent news i just want to share because it's relevant to this in terms of micro sms right being able to export more and having that knowledge gap of course for us it's about the knowledge gap right so can you answer this question about the challenges our entrepreneurs will face right when trying to move physical to to e-commerce yeah yeah sure thank you for for the questions um so uh the i think um we have to look on the fundamental things when we say when we say about something to to divert from having these retailers business uh models uh into this e-commerce pony area because why it comes area is something that not a lot of people familiar especially when it comes to this retailers business they are do they have been doing all these uh retail experience with the uh customers for quite a while so when they want to divert from these retail business models towards this e-commerce business models it's going to be difficult especially to those um sme and also micro business owners so um i think first of all we need to uh set up a few uh expectations expectations when it comes to the customer and why do they buy and why because i'm i'm i'm really obsessed with the customer experience and also i am really obsessed with what does the customer want so when we look at the customer uh the customer segment right so most of the customers they want to go to retail store because they want to feel yeah experience you know when they want to buy shoes for example so they want to try to fit in with the shoes whether the shoes are okay with them whether the design is okay with them and things like that right so um having this kind of experience really appealing for certain kind of customer segment so when we want to venture into this e-commerce industry ecommerce business models of course you want to make sure that um what we call the omni channel so omni channel is actually um something uh the experience that you have on the retail store is uh kind of similar when you want to communicate through this ecommerce platform so we want to make sure the expectations that the consumer have is consistent the shopping experiences uh going to the shop and also buying in the e-commerce platform is something that is favorable and also not a lot of people are technology savvy right so so you might want to educate them especially when it comes to your customer base is those people who wants to actually experience having wearing issues um uh on on in your shops so you have to educate them because then again the customer your customer base that you have before this you can divert them the sales towards this e-commerce platform i believe that the seamless shopping expectation is very important when you want to uh change his business models because you want to make sure that the shopping uh using e-commerce platform is going to be as easy as possible because uh some people are not tech savvy right so so that's uh the first thing i think uh people need to think other entrepreneurs need to think about the the basic thing is to actually obsess about your customer and know the every touch points that your customers want to experience so then you propose a somewhat similar experience using this e-commerce platform the second one sorry by the way because you do use the word obsessed you must be a big fan of jeff bezos right because the first cardinal rule of amazon is an obsession over customer service so yes yes exactly so uh we've been adopted uh one of the amazon uh method which what we call prfeq so when we are when we we we will try to implement some sort of uh products developments um any any any technology developments uh say for example okay we want to uh do an ecom store eco ecommerce store so we will do our pr faq so that's what we call press release frequent frequently asked questions so that method is being used also by amazon so we want to make sure that we really understand what is the idea behind these customers the consumers what do they actually want so how do we get engaged with them how do we actually know them so when we know that and we propose the right solutions i think it's not about having a lot of money to invest in this e-commerce platform especially because oh okay yeah yeah i think there's a lot of uh products out there available for you to test out so for me it's it's very important to do a lot of testing uh it's important for you to do to do a lot of hypothesis then you can come up with the seamless shopping experience if not it's going to be hard for them to engage with you you don't want to expand a lot in this infrastructure without knowing the real outputs coming from these uh platforms okay oh cool all right so you you use the word seamless you know and and you must really understand your customer well and you know you talk about using a pr faq but uh just a quick one before go to bigesh and i i'm totally shocked and i hope my time is wrong because sounds like it's almost like 3 30 uh it sounds seems like we just started seven minutes ago and it's already 27 minutes so i'm just going to quickly ask you because you talked about a pr faq and i think yesterday a day before the the minister of communication multimedia thanks to ano musa has just opened his own tick tock account i mean you know i'm like like shocked at that so but uh because you know you are a lot of entrepreneurs also obviously you know those who want to start out and be entrepreneurs are probably the younger group so i'm sure tick-tock are using a tick-tock channel is one of the ways that you can you can deliver better customer service right to your customers as well right yeah you don't have to explain a lot but is this a a new tool in the toolbox so before we go on to bk uh uh so yeah so i i will assume that uh tiktok is just another platform um so so uh it's it's it's it's best for you to know which platform is best to find your customers hey that one is very important right so not all of uh malaysian people or your your customer segment in tiktok platform so you need to determine that one first and also the way that people interact in tick tock is kind of a bit different i i met a lot of entrepreneurs and so i coach a lot of entrepreneurs i also urge people to venture into this uh tick tock platform but again you need to understand whether because there's a lot of platform right youtube um instagram instagram snapchat everything um in fact there's a lot of products out there but as a business owner you want to make sure that you want to start small and you use whatever you have so so it's best you know you fully utilize whatever platform that you have and you know how to scale from that okay cool thank you very much young man uh and we're just because we are talking about some tools here but these are right now very marketing based social media tools so let's bring out b cash and uh a a a question for b cash who's got experience dealing with the whole swath of entrepreneurs and even his because his company has got a lot of corporate innovation programs also so he's got a good cross-section of experience uh because uh technology adoption of digital tools right is definitely beneficial for small and micro businesses as uh africa just said also but there does seem to be a gap right in the tools adoption between large businesses and entrepreneurs uh uh you know especially in e-commerce or cloud computing how are you helping to like bridge the gap and i know that you've got experiences again helping even agriculture-based you know entrepreneurs also right so maybe you can you can touch on that specific element any questions there but but yeah i guess depending who is the entrepreneur we're speaking to today right you could be an entrepreneur you're trying to build a technology platform to be an entrepreneur where you are the supply side that you are the farmer you are the person going online and trying to find technology so let's talk a bit from both sides of uh views itself from from the availability in the market you see yeah a lot of tools trying to get towards the bigger tail end of the customers because malaysia is relatively a small market yeah smes we've got about a million if you talk about the mid-tier companies the ones who do um services 20-200 million manufacturing maybe that's like one percent of them so there's only a few companies that can pay you that big ticket price yeah just trying to build something of an enterprise nature for a larger organization so there is of course focus on people who pay and it's a small niche um but if you're trying to go down the sme route trying to get something where we call it hunting flies people pay you small ticket prices but you need a vast quantity that's where the challenge is a lot of people are trying to double in the space but failing because again like what uh the previous people were saying understanding your customers from a tech provider too do the smes have that particular price point to pay your solution do they have sunnis comprehend uh new business models like paying subscription basis you're paying something that you may not be utilizing all the time some people are very calculated in terms of where the money goes would a farmer in a rural place location be willing to adopt technologies that they cannot see how that relates back to their bottom line so again it goes back to everyone always understand your customers who are you building this form so when it comes to the smes that we look at we run some pilot programs for the governments okay get them to adopt digital technologies everybody wants them to do that but put yourself in your sms shoes if they don't fire fighting now just to make ends meet you think they have time to go still in a course and learn about complicating it from end user tool as an initial now it looks like an enterprise game so there is a breakdown in terms of what the tech does for that segment of the market we see that as a big issue and that's the opportunity for entrepreneurs out there to go and solve for it in terms of let's say the farmers and the young generation who are uh will be on the supply side they need to adopt technologies yeah there are solutions that is coming that is beyond just here's a tool and you have to learn how to use it but we have learned based on our experience how this can automate certain things for you so that's the new age to move or basically inside you see someone trying to like there's a beautiful product we're seeing called yes hello it automates how you basically do your notifications and your replies and your customer service for whatsapp you don't need a rocket science degree okay it just basically works uh there's some people who are trying to sell online and sell questions in the chat saying how does an entrepreneur start if you can build something on your own you can buy you can rent a solution but again you can start baby steps also another amazing local product i like called yes uh it allows you to create a commerce platform on the whatsapp that are understandable to the particular sme they can start first you don't need to like figure out do i need a marketing team what sme is going to go hire an internal person just to sit down there and run ecommerce they won't justify such costs so yeah so that that's the issue and dilemma they have right this purpose-built tools are now coming so coming where we come in and we're investing in teams so we're investing in a company that's basically saying let's help farmers out farmers are wanting to farm more yeah they need to land they need access to capital but how do you land the farmer money so that's a fundamental issue right there are they bankable do they have a credit score for farmers could you go to aggro bank and get money there's over a million farmers in the country and everyone go to agrobank and get a little bit of a facility no way so you need alternative ways of financing and there is alternative platforms today called bcr50 do they understand that customers call mr farmer so that's where the gap is right so we invested in a team called kapitani that's basically building tools to help the farmers make their operations a little bit more kind of not automated but more transparent they're more clarity in terms of how efficient and productive they run so imagine is the accounting system but purpose built for microsm is purpose built for the farmer looking at the inputs and the outputs can you even make it figure out i need to group by fertilizers how can 300 other farmers kind of buy with you to bring that cost down at the end of the day we get to understand how efficiently you run your particular farm and therefore generate a credit score for you and now lend you money based on whatever house you perform so we're starting to see those things in effect right and on the corporate innovation side it's nice how we're seeing certain companies want to leverage uh to help out yes it means to help out the tech providers out there so key example is uh property developers so much land so much um kind of so much but there's an issue with distress assets so what we've been trying to figure out was how do we take some of the distress assets and use their rooftops for food production we mentioned this at the beginning about uh the food security levels of the country right trying to get that we've not hit our training training targets the last time i checked okay there's a there's a shortage of that we import in chili's oh yeah of course it's correct so why aren't we doing that what is the breakdown that we have to import so much and produce um how do you solve for that land is cast how you leverage uh corporates to have rooftops like this so we invested in a farm for the first time and the farmer that we invested into is now going to rooftops of corporate towers and basically building uh urban farms and what we then do is this is where the new business model comes in full of it showed that people needed new ways to engage in retail okay they won't go to a supermarket because everyone's paranoid at the beginning uh people wanted to buy online there was this fast supply of it yep so people have come to the point that certain things that is important to them they would be willing to buy online you wouldn't need to go into a store and hold and feed your buyer unless you are a michelin star chef and you want the christmas yeah yeah like that then you do that but if not you would be able to say that every week we cook greens at home why can't i have a subscription model that sends vegetables to my doorstep i don't really care what greens you send me as long as they're green i'm going to eat them and we tested that right so we had an urban farm we did a subscription model and when coveted hit and the lockdown happened we had people playing upfront 12 months of subscription for vegetables to be sent across the entire year six months to a year was what we made to monetize from people that's amazing so now we're going to all these buildings and saying let us set up and we create subscription models around your particular locations around your certain timelines and industries okay all right that you've given me so many talking points ready uh let's move on to uh because i i want to ask you a a question and want to add a supplementary question because it's amazing that you can talk about farming now and don't talk about land but rooftop give me a rooftop i want to farm there awesome okay let's get the pond cathedral on for for the next question for her and okay great so kathia i got a quick question for you which is that is obviously what are some of the you already spoke earlier right but what are the other ongoing initiatives right to support entrepreneurship and technology right for the agriculture sector and what big case was mentioning was interesting right so literally could somebody come to you and say i'm doing farming but i'm not using land i'm using rooftops is your bank open to also assisting them because they are still considered farmers or you think it must be soil before you consider them this is anybody farming actually i think um just to share with you that this year is actually our uh normally we'll develop our strategic business plan on five years because this is the first year for our okay your next five-year plan yeah for the next five years so um i have covered our first strategic uh focus area just now with regards to um sound agricultural development right where we want to support the government in all the initiatives for the monetization modernization and okay as well as mechanization so what is interesting now is the the second part of it is actually we also want to focus on uh inclusive customers talking about technology we don't want to leave behind the underserved and unserved oh okay so underserved and answered can mean that this is from the p-40 categories yeah or from those in the rural areas or maybe as you mentioned or big mention just now maybe those who are into the um urban farming yeah yeah we want them to be in so yes they answer their question yes we do find provide financing for that right of adventure and uh number three interestingly one of our strategic focus areas is a transformative business model we actually talked about will agrobank give financing for this new agriculture status kind of thing right so what you're saying maybe now what we have learned from um this pandemic people burdened by the debt right so is it possible that we shift rather than to the deliverance model to investment model okay yeah having an investment platform and allowing more people to come and participate in this venture agriculture venture and what is interesting also we talk about technology but agriculture is always been associated with a highway sector right so how do we provide protection so acrobat has actually been mandated to arrange for crop daca food which is a crop insurance but wow some we call it a crop top full so so you people can be assured that there is protection there if your project is actually attacked by us because of the climate change you know we talk about the climate change the impact of the change in the weather but yeah and what's you know so on and so on and of course our fourth uh focus area is regards to sustainable sustainable financial condition yeah okay sustainable as well so when we talk about sustainable whatever practices or whatever technology that we embark on it must be friendly to the environment friendly to the people friendly to the society right and of course it must contribute to the economy as well so so those are in short the answer to do i give financing to this food yes we do so in fact the difference between us and the fi we actually try to close the gap where customers may not be within the appetite of the commercial banks because they do not understand the risk do not understand the business that's where we come in yeah and when we talk about inclusive customer focus this is where we will try to nurture them they will they will start with us as a startup and then we make sure that they get enough guidance and advise us so that they can grow to the next level so on that point because i this is a question i have but uh let me jump and ask you first because you talk about advice and and and like expert advice right you have something called a center something right a co or whatever and it's something it is not new right now talk about that and the value that gives to the ecosystem okay so when we talk about uh um customers yeah uh most of these sorry by the way very interesting all of you all are putting such an emphasis on on customer which is very sometimes understated or people assume it's a given but it takes a lot of hard work it seems like to really understand the customer and try to solve the need before they can open up their wallet and reward you yes that's uh so for uh what what we find out especially at the our group of customers as i mentioned earlier these are actually the unreserved and unserved okay and most of the time they they do not have this financial discipline yeah or we talk about financial literacy right so in addition to giving them the financing but we also coach them we give them some kind of guidance okay how to do the business and what kind of discipline that they need and what is interesting for our is as i mentioned also earlier we are part of the agency and the ministry of agriculture industry so we work closely with other agencies too so when you do a agriculture project you can actually get the help of these various agencies and the monthly for the technical device they can come and let you know that you can go actually to them and i said can you come and look at my project and see what's wrong with this plan and you see what is there something wrong with my funding practices they can come in and advise so we work together as well with these agencies and then we can actually come up with the funding so this is how we work with the agencies and our aides actually uh giving them this education about this financial discipline and how to manage the businesses because i think by now we all agree that most of these uh msne would be would have been taken aback with this pandemic in terms of how do i manage my finances right and how do i move forward now post pandemic so that's actually uh our role too we do support our customers in that manner it's nice even before they become our customers if they have interest okay to become an entrepreneur so this is part of the entrepreneur development that we are doing so they can come and join the class first fantastic then we can give them the financing and they can limit the performance as well okay so keep on lucky i assume that you have to be a customer of the bank before you enjoy the services of your coe but no you can already come and partake a wonderful great that's called building capacity a wonderful so just quickly i'm going to move on to uh uh uh to afiq but before afric there was a there's an interesting question from sharing rahim about policy interventions right supporting short-term liquidity of funding and i think bikes already kind of spoke spoke about that sharing which is that uh you know you've already got this this p2p and the ecfl equity card funding where you can get uh get funding from the uh from the many right you don't need to go to to formal institutions or so and and entrepreneurs have been able to raise money from from this p to p and and ecf platform to so so that is definitely a strong emerging alternative uh you know funding platform that was not there probably four years ago and and people like bikes and sam chaffee from pitching right uh and elaine lokman from atapa they put in a lot of hard work to build up that so that's good to quickly answer you and before i i i think i bring on uh mohammad fari has an interesting question about poultry farming so as in you know it's you know about integration right i see very less opportunity to be digitized i'm not sure what he's talking about but i just saw that in terms of agriculture but anybody wants to answer that they can later but i think for you first now is the is the next question i have right uh which is just quickly on your uh we are now moving into this endemic stage right no more pandemic endemic uh does this uh uh what kind of mindset change does this require from entrepreneurs and ngos and i bring up ngo because you're also working with ngos right uh thank you uh congratulations for the questions um okay so i think uh the main point here is to really understand uh what does this panoramic brought us into and and um how does the this endemic can change the whole perspective of driving forward this organization or company that we're building up since day one so the type of crisis leadership that we require is to actually find the solutions under the stress conditions considering all the conventional risk management we need to have a certain frameworks that is really agile that's what i mentioned now we need to be really flexible we need to be really adaptive the leadership management they need to know where to navigate and they need to teach when it comes to driving forward the company it's not always uh coming from the perspective of you as the owner itself but also you need to to understand the whole team need to be agile and the whole team need to understand the new cultures that we're having right now is having a lot of flexibility because there's a lot of uncertainties though it's a endemic we still need to know like what are those reactions when it comes to these consumers right because the consumers are they they they they still be aware of this coffee yeah to some industries you know they they want to splurge their money so for examples like travel

2021-10-28 09:46

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