Showing posts with label technology. Show all posts
Showing posts with label technology. Show all posts

Tuesday, 22 April 2014

MaGIC appointed Cheryl Yeoh as first CEO 大马全球革新及创意中心 委杨美莺任新总执行长

MaGIC (Malaysian Global Innovation & Creativity Centre) has been appointed Cheryl Yeoh, 31,  as first CEO from more than 100 candidates that apply for the job.

Tan Sri Dr Mohd Irwan Abdullah, Secretary General of Treasury, Ministry of Finance Malaysia said Cheryl Yeoh    chosen because of her experience in Silicon Valley in US, and she have successfully make an exist when her startup acquired by Walmart Labs in 2013.

Actually, Malaysia need more entrepreneur that bring company from startup to IPO.  However, it is very difficult for startup outside Silicon Valley or US to build a sustainable business after IPO. Even company in Europe like Skype also opt for being acquired rather than make an IPO.

Cheryl Yeoh claim to raise funding from Dave McClure of 500Startups before her company being acquired by  Walmart Labs. However, this is because of ecosystem or it is skill that Cheryl Yeoh able to bring to Malaysia is yet to be seen.

Cheryl Yeoh also claim mentoring at Peter Thiel’s 20 under 20 Fellowship, 500startups, Founder Institute and Lean Startup Machine, etc.  It seem she able to break the racial and gender inequality first in US and now in Malaysia. A barrier not easy to break, both in US and in Malaysia.

Hope she able to bring change to startup ecosystem in Malaysia........Silicon Valley of South East Asia!

Related : Pulling a rabbit from the hat
Update : MaGIC sign MoUs with Stanford U. and UP Global

大马全球革新及创意中心 委杨美莺任新总执行长

赛城21日讯)在美国硅谷有杰出成就的大马年轻女企业家杨美莺(Cheryl Yeoh),受委为大马全球革新及创意中心(MaGIC)新任总执行长。





Thursday, 16 May 2013

Price hike of international postage by Pos Malaysia Berhad

I just back from outstation and went to Post Office today to do my normal delivery.

Staff of Post Office pass me a booklet ( pic below). I ask in Malay "Price increase?" and they said "yes, since yesterday ( 15 May 2013 )

With the popular of email, sms and whatapps etc. Volume of normal mail has drop gradually. However, with the popularity of people buying online. The only growth area of Pos Malaysia Berhad is parcel for ecommerce.

Generally, those parcel mail to overseas as Malaysian still do not have habit of buy online.

Thus, ecommerce operator are partner or stakeholder of Pos Malaysia Berhad.  However, with a price increase. don't you think Pos Malaysia Berhad milking Ecommerce operator, it partner and stakeholder  too early?
Malaysia have a reputation of provide low cost of goods globally. Pos Malaysia Berhad suppose to reduce price to increase volume to enlarge the cake rather than kill the goose that lay the eggs too early.

Ecommerce operator are challanging with US's QE1, QE 2 by US and appreciation of Ringgit currency. This has eaten margin of Ecommerce operator significantly.

It doesn't help when Bank Negara fail to control exchange rate charge by Paypal Paypal have increase it exchange rate last year. Paypal exchange rate are significantly higher than commercial bank and Licensed Money Changer. This further eaten margin of Ecommerce operator. Other than price increase of Ecommerce Mall operator like eBay. A company who control Paypal.

With the price increase of Pos Malaysia Berhad. Will this be the last straw who kill the industry and dampen the effort of Malaysia to move from manufacturing economic to become a Ecommerce hub and Economic Transformation Program (ETP) EPP121 Growing a virtual Mall is yet to be see. I really feel that price increase is not the way to acheived NKEA : Communication,Content and Infrastructure : Business Opportunity 3 : Courier, post and Broadcast.

Update 1 : The Star : Revised postal rates just too high
Update 2 : The Star : High postal rates severely affecting business
Update 3 : ebay forum : Pos Malaysia certainly sky rocket their international shipping fee.
Update 4 : Itu dia : Malaysia news sharing : Pos Malaysia 调涨国际包裹邮费 400%
Update 5 : Malaysiakini : Pos Malaysia ups overseas parcel rate, irks netizens
 Update 6 :  web2ship eparcel offer more prefential rate to US and will give reader of this blog 5 free shipments for trial OR total rebate of Max RM50 until end of this month for our eparcel service as long as you use our eBay integration. Promotion code : Arbirage . Disclaimer : Arbiage Sdn Bhd (927246W) never used such services before and reader should used it services at your own risk Arbirage Sdn Bhd (927246W) just informed reader of such offer and should not see as endorsed their services.
Update 7: Lowyat forum : Pos Malaysia Ridiculous Price Hike After May 17!, Price Hike of RM 40++!!!
Update  8: Malaysians must know the truth : Pos Malaysia ups overseas parcel rate, irks netizens
Update 9 :  faithluv2eatntravel : Price Revised for International Shipment from Yours Truly....POS MALAYSIA
Update 10 : Majlah Review Malaysia : POS Malaysia: Kos hantar bungkusan ke luar negara naik 400 peratus
Update 11 : Malaysiakini : HLIB: Many challenges ahead for Pos Malaysia
Update 12 : Photo: This is Pos office lastest price for INT AIR MAIL  for small parcel.
Update 13 : Malaysiakini : 国际包裹邮费暴增四倍大马邮政激怒网上业者
Update 14 : The Star: Don’t kill the golden goose, Pos Malaysia
Update 16 : : Pos Malaysia shipping rates update / new Small Packet May 2013
Update 17 : Pos Malaysia and the ’400%’ price rise 
Update 18 : 南洋商报 : 居民投诉82元变279元 寄澳洲包裹两周涨300%?
Update 19 : Caj Pos Malaysia naik 8 kali ganda?
Update 20 : 星洲日報 : 郵政公司:國際郵費漲更快遞送
Update 21 : 南洋商报 : 邮费调涨一倍 海外网购料受冲击
Update 22 : 中國報 : 國內保持不變 國際郵件包裹郵費調漲
Update 23 : 忠政快讯- 大马邮政公司自5月15日开始调涨国际包裹邮费,激怒从事 ...
Update 24 : The Star : Postal rates still way too high
Update  25 : Asean Trading Link : Singapore Post Limited benefited from recent price hike of Post Malaysia Berhad
Update 26 : Lowyat forum : Pos Malaysia Is Killing All the Online Seller !, Postage 2013 May Increase 400%
Update 27 : Wangcyber :  Adoiii! Mahal giler caj baru Pos Malaysia! Matilah kita
Update 28 : Facebook Boycott Pos Malaysia Page
Update 29 : cari forum : 国际包裹邮费暴增四倍 KNS
Update 30 : Cari forum : 大馬郵政公司有无漲價?
Update 31 : i3investor : Culprit of Malaysia Balance of trade surplus drop
Update 32 : The Star : Postal rates affecting small businesses
Update 33 : Asean Trading Link : One year after Pos Malaysia international postage rate price hike


Monday, 28 November 2011

Jeff Hoffman Vs Naval Ravikant

Silicon Valley come to Malaysia Conference has ended more than one month. I am a slow learner and still digesting what happen at the event one month ago.

A lot of publicity on Naval Ravikant of AngelList. Malaysia business weekly The Edge feature an article on Naval speech and Malaysia's radio station also BFM89.9 also interview Naval.

In his keynote. Naval said  not to pay attention to idea, as they are irrelevant today. "Ideas are worthless as many can just sit around and think them up." Naval said he choose a team base on the team Intelligent during his interview with BFM89.9. That doesn't sound encouraging if your company never choose as top 100 company or never selected to one to one session. There is more than 500 team participate at Silicon Valley come to Malaysia Conference but only 100 choose as top 100 and less than 50 team has been chosen for one to one session with Silicon icon. Thus, Naval mean that there is at least 400 team or 80% of less intelligent team here. That doesn't sound motivated especially if your team never been selected.

Another icon from Silicon Valley Paul Bragiel of I/O Venture speak more specifically during his interview with Paul said the team must comprise strong technical people. A person who able to develop software as a team member. That sound better than Intelligent if your team never chosen and your team doesn't have a technical software developer.

The most inspires speaker are Jeff Hoffman of Jeff Hoffman said he has opportunity to meet with a lot of icon in traditional business. However, after speaking to those icon. He don't feel those call icon are smarter than you and me. That sound motivated.

Feedback survey by organiser also show that Jeff Hoffman has been voted the most motivated speaker of the event

Thus, it is worth watching his speech again even it last for more than one hour. Jeff also shares his entrepreneur journey at his keynote. Only two speaker did that. Another one is Joel Neoh of Groupon Malaysia. Apparently, Jeff Hoffman also not a technical software developer, at least not a skillful one.

Surprisingly, many people, even those who selected to have one to one session with Jeff do not know that Jeff operated a venture capital firm Smith-Hoffman Capital. What a watse that they never did their homework. If you do not have time to watch the above video. It worth reading this blog coverage as well

Also worth watching his Q&A session

Another icon Saad Khan of CMEA Capital, ask participate to email him if their start up fullfil the following 3 criteria :

1) Rewrite the rule

2) Never say die

3) Inspire

Saturday, 19 November 2011 founder Jack Ma will be in Malaysia March 2012

The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) will organised 3rd SME conference at Berjaya Times Square at 15 March 2012.

Conference will invited industry icon including founder of Jack Ma,  Designer of  the world first single chip USB flash pen- drive,CEO of Phison Electronics, Pua Kian Seng.

The conference is expected to have 500 participant and it is a fee pay conference.

Conference language likely in Mandarin (Chinese).

Update: Jack Ma might not around but co-founder of, Alvin Woon will be in town

礼聘国内外知名人士主讲 明3月办中小企业大会

锺廷森透露,总商会会明年3 月15日将在吉隆坡时代广场举办大马中华总商会“第三届中小企业大会”,安排500人出席。

Wednesday, 2 November 2011

Naval Ravikant speech at Silicon Valley come to Malaysia conference

Venture Capitalist and AngelList founder Naval Ravikant,  who has investments in Twitter and Foursquare speech at Silicon Valley Comes to Malaysia conference. Below are full speech during conference on 20 Oct 2011:

Technology entrepreneur have always come out of the US, particularly from iconic Silicon Valley in California, where innovators, programmers, engineers, angel investors, universities and venture capitalists exist in abundance. But in the coming decade, expect more nascent entrepreneurs to spring up from Asia.

I think sometime over the next decade or two, we are going to see the emergence of good, start-up ecosystems around the world. and the huge markets the US used to enjoy are now in Asia, and that's why a lot of us in Silicon Valley are trying to figure out how we're going to reach Asia....Malaysia is one of the gateway to Asia.

There is a good news for entrepreneurs in asia and Malaysia, because there are still many thingd in this part of the world that don't quite work yet, and these are grounds for innovation.

Author Danny Mills says "technology is everything that doesn't work yet" and this means that you have more opportunities in this part of the world that have in Slilicon Valley. there are certain problems available to you here so the scope of innovation to slove these problems are larger here.

The ability to have access to capital is still not quite as good as that in the Silicon Valley. However, it has become a lot cheaper for entrepreneur to gain capital over the years and that asia has a great potential going forward. adding to this is that the entrepreneur ecosystem in Asia has grown in recent years and this helps Asian and Malaysian entrepreneurs. The fact that I can see hundreds of you in this room is a testimony to that.

To spur the technopreneur ecosystem. companies import foreign talents so that they can work with local technopreneurs and give them a chance to learn the spirit of entrepreneurship alongside their more experienced counterparts.

The government of Chile has done this. We know because Angel List gets applications from indigenous Chilean companies for funding and they are every bit as good as those in the Silicon Valley because they've had the bar set high by working with those from Valley itself.

Aside from the booming development in Asia, the Advent of the personal computer has given entrepreneurs around the world, including those in Malaysia, entrepreneurial leverage like never before. Entrepreneurs today have gained a lot more power han they think. Leverage amplifies the entrepreneur's ability to do things better. Traditional brick-and-mortar businesses depend on labour and capital as their leverage, business succeeded in the old economy because they could muster whole teams of people to work and produce something for others to use. these business also had access to cheap capital to finance this process.

But in the 21st century, intellectual property is the new leverage. Code is power and the new form of leverage because when a programmer writes software, he does so once but every time it gets executed, it doesn't cost him extra. This is the kind of leverage that Yahoo and google had when they came into being.

As entrepreneurs, leverage is your friend and it gives you the power to do what you want to do. entrepreneurs today are more fortunate than those who came before them and they should take advantage of this.

There isn't a fixed formula to start up as an entrepreneur. The most important thing is to do what you love even if others tell you it won't work.

Pick a great co-founder as you'll need someone to be there alongside you. co-founders should be highly intelligent and possess high energy as he or she should be one who never has to be motivated.

A co-founder must have a lot of integrity. If yuou get a highly intelligent partners who's full of energy but has no integrity, you're going to get a smart crook as your partner, and that's the worst kind of co-founder you can have.

Next, pick a very large market that entrepreneurs can easily grow their business in. This is somthing that can be easily done in Asia and even the Silicon Valley does not have such huge markets. Another important thing to note is not to pay attention to idea, as they are irrelevent today.

Ideas are worthless as many can just sit around and think them up. What's more important is that you pick a large market in areas that you're knowledgeable and passionate about and you will figure out what is the right thing yo do in that space. do not go around pitching a great idea and asking for money, as that is the worst thing to do.

Rather, say to your investor that this is the space, articulate the huge market potential it has and show them how passionate you are about the business, the kind of things you could do with your product, the kind of people you have doing things alongside you and show them a minimum viable product that you can use to test the market with.

With the leverages that exist today, an entrepeneur should be able to get a product-market fit - where a product matches what the market needs. Then do you go to people whom you can trust to raise money, and use that money to scale your business.

While basic education is important, it's not necessary for entrepreneurs today to get a graduate degree in the form of an MBA as schools in general tend to force students to conform. Instead, they should try to get into good incubators.

It used to be if you wanted to start a company, you were told to get an MBA and/or a Masters. But entrepreneurs know that going to schools does not teach you to be innovative nor are they grounds for being creative.

The beauty of incubators compaared with graduate schools is that entrepreneurs get paid to get one's education, nothing that in the Silicon Valley, incubators can get anywhere between US$25,000 to US$200,000 of funding for a company.

When you get out, you are not expected to hunt for jobs. Instead you are expected to create jobs for others, so this is completely flipping the school model on its head. You are also not expected to do the work your professor tells you to do but rather, are expected to do something original, something of value the world has never seen before. and finally, you are graded not by professor but by the real world. so the best case is that you create a company and products that will change the world; worst case, you learn by actually creating something.

Below are some of the question posed to him and his answer:

Q&A session:

1) Despite the distance between Malaysia and the Silicon Valley, wouldn't the angels want to invest in promising companies here?

That is a really hard problem to overcome, because even with good products, one can be too far away. an angel will first want to get to know you before they invest and once they do, they want to be able to bring their network to help you in any way possible. One way to get past that is to get a local investor who is trusted and has a network in the US himself. the second is to just grow the business to the point that people will look beyond the core team and just focus on the numbers. Perhaps, it is best to follow the Estonia model where you regularly get one or two members of the start-up team to spend six months at a time in the US. this allows them to network locally and for the local players to get to know them too. But if you do that, those who come over to the US must include at least one member of the founding team.

2) What are the key criteria angels look for when investing?

Someone I know described the process of raising money as a group of young men and women seducing a bunch of old men and women. You want to make them see something of themselves in you. which means, it is an emotional sale. Emotional sales do not work on a check list. So, while there are four key categories angels look at, they will usually look for one exceptional characteristic that they really adore. so you yourself must excel in one of these four categories.

As for the categories, it starts with the team you have assembled. the angels want to see that it is a high quality team that has a history of accomplishing good things. the school that you went is less important, eventhough you hear  a lot about Ivy League schools.

The second thing they look for is the product itself. You need to focus on building a really good product. I have seen many entrepreneurs who make the mistake of building poor products or half products and then try to explain their way aroud it. Don't. Just build a good product so that investors can play with it and see what it will look like. The reality is that they are highly visual people.

Third is customer traction. This matters a lot. If you have a lot of users/ customers and growing, that is very good. But if you say, give us the money and we will go get customers, they do not like that.

Finally there is something called social proof. If you get one  investor in, very often another will come in, or if you have a famous entrepreneur as an adviser, that will help the company too.

3) Right now it seems that 99% of start-ups are in the consumer Internet space. what do you think of enterprise start-ups?

Actually, the odds are very low to make money from consumer products and it takes a long time too. so, actually, more investors want to invest in enterprise rather than consumer companies, especially in this part of the world. But you have to do somthing that investors like that is exciting, new and dynamic. You can take lessons from the consumer space and bring it to the enterprise space, and absolutely no clunky apps please. One reason investors like consumer apps id because they use them too. for example, is a web-based CRM and sales management software as a services tool. They basically asked themselves, what if Apple came up with In this way, they brought something fresh and new to the space.

4) As a successful investor, what type of start-ups will be hot in the next five years?

Frankly, there is an enormous amount of luck involved here. I have had three successful investments and that was out of almost 60. I thought all of them were going to be as successful as Twitter!

Even looking back today, I can't explain to you why Twitter is successful and I think anyone who tells you they know what they are doing with their investment is basically lying.

But, if I had to guess, the next hot thing will revolve around the mobile. this is a device that has about 12 sensors in it and each is on all the time. someone will cleverly stitch them all togehter and do things we cannot imagine today. Also, many things don't work yet, so in reality, there is a lot to be done.

5)What about the risk of exposing our idea to someone who may copy it?

Whatever your idea is - kust google it. It is already out there.

6) The prospects for angel investors exiting from their investment here is not very strong. How do you see them coping and what other means to exit can they look at? Also, do you see your fund expanding here?

The reality is that investors don't invest where thy are not. With angel list, I wanted to deocratise angel investing globally. But in reality, over half our deal volume is in the Silicon Valley and around 90% of the deals are in the US.

As far as other means for angels to exit, I think the chances are much better, especially on the M&A side. for instance, lots of companies realise they need to go global quickly and open branch offices globally, for example, Google, Groupon, LinkedIn, and in the beginning they would buy the local clones. But hopefully those will not be the only exits here because the problem with that is that it does not encourage creativity. I should add that these companies are now also buying for the talent - the designers, engineers, developers and so on.

On the local front here, I am hoping that your large companies realise they too need to acquire local start-ups. for instance, maybe Maxis will start acquiring start-ups in the mobilephone space. That started happening in the US in 2007, but then the bubble burst. Nevertheless, I see a second coming. I don't know what will happen on the local front, but what is going to happen here is that a lot of local angel investors will lose a lot of money until the cycleturns and big companies start buying small companies. Investos in at the right time will make a lot of money then.

7) I have already raised money overseas, but I notice that local investor appetite is very poor. What can we do to whet their appetite?

The best way is to create a startup that creates rich people who then invest in other tech startups themselves. In the US, when Google went public, its staff suddenly had a lot of money, and since they made their money from a tech company, they started to invest in other tech companies.

8) What are a service-based company's chances in terms of raising angel funding?

It is harder because it is very people based; you have less leverage and lower margins. so, investors don't like it as much. while they do get funded, you have to be further along in your growth and must demonstrate that there is a strong IP-based component to the company so that it becomes a more financiable business

9) What is your take on the lean startup movement?

Well lean startups sound great - do it quickly and cheaply. I think every startup should do that, but I also encourage you not to get caught up in movement and terminology. You can take a lot from this movement, such as stay small until you figure out what works. Steve Blank, a serial Silicon Valley entrepreneur and author of Epiphany, defines a startup as a search for a scalable and repeatable business model. So until you find that, I would advise you to stay very small and cheap.

The above are reference and excerpt from : The Edge . 

Profile: Naval Ravikant

Naval is an entrepreneur and angel investor, a co-author of Venture Hacks and co-maintainer of AngelList, Previously, he was a co-founder at Genoa Corp, which was acquirred by Finisar, Epinions, IPO via and, a large white-label classified marketplace. He has advised, iPivot and XFire and invested in Twitter. Foursquare, DocVerse, which was sold to Google, Mixer Labs - Sold to Twitter, Jambool, snapLogic, PlanCast, StackOverflow, Heyzap and Disqus. Ravikant is recognised for changing the way angel investments are made in high tech startups, earning the title of one of the Top Angels in Tech by BusinessWeek in 2010.

Sunday, 11 September 2011

Intel Capital invest in

Intel Capital, the venture capital arm of Intel Corp, has invested an undisclosed amount in Dealmates, a group buying start-up base in Malaysia.
This is third Group buying site in Malaysia being injection or M&A by Foreign company in year 2011.
3 months ago, another Malaysia Group buying website has been acquired by a South Korea company Ticket This is just a few short month after US base Groupon acquired Group More to become Groupon Malaysia. After a decade of launching Multimedia Super Corridor (MSC). Malaysia now on radar screen of M&A by technology startup MNC. Unfortunately, all focus on Group Buying company.

Groupon Malaysia CEO Joel Neoh become celebrity CEO after his company Group More acquired by Groupon.

South Korea online shopping Mall has set up in Malaysia despite it office is still base in Singapore. It website stated the campany partner with ebay, which has entered Malaysia market via few  years ago. This has create some confusion among ebay seller in Malaysia.

Another online shopping Mall from Japan, Rakuten plan to enter Malaysia market by year end or beginning of next year. It is surprising that Rakuten not using it Taiwanese company to enter Malaysia market. Given the fact that the online shopping Mall highly successful in Taiwan market and a high population in Malaysia speak same language with Taiwanese. It is far more easy for Rakuten Taiwan to enter Malaysia market than direct from Rakuten Japan.

After a decade of launching Multimedia Super Corridor (MSC). Malaysia online market is growing and on radar screen of internet MNC.
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