Malaysia’s current business outlook from an amateur perspective: Tech, F&B and Logistics
When we decided to actively update our blog, we were nervous. Our grammar is not that good. English as our second language. However, the importance of getting our point of view across to the market is crucial. Why? We had to play a role to share information and knowledge to as many people as we can so that we have no excuse.
This particular post is regarding our point of view regarding business in Malaysia from an amateur point of view. What do we mean by an amateur point of view? From someone that is not important. An average joe. Who grinds every day to find new business and opportunities.
Tech Sector
It is booming. There are solution providers everywhere. Entry to market for certain groups are minimal and this creates a pool of talented workforce that merchants can rely on. However, in terms of providing value to customers is less than 30%. We believe that not many vendors or solution providers out there can actually define what value that they can bring to their business. Most might just ‘goreng’ (goreng is similar to bluffing) and make you believe that they actually provide value. We are still far away in terms of providing ‘heavy’ tech. Heavy tech means IR4.0 kinda tech. We consume but only a few that produce.
Food & Beverages
From a tech point of view, this sector is aggressively integrating technology into their business. You’ll see many merchants are using online point of sales. The question on whether are they on cloud is a big question. Contactless payment is slowly appearing but most businesses are still accepting cash which is not an issue but I myself who use to always pay using cash is starting to annoy the fact that some merchants are not able to accept cards. Making payments via phone or using a card is still a debate that we can continue later. Does technology help this particular industry? Yes. Do we need to improve this industry in terms of marketing and big data… BIG YES!
Logistics
If you drive or walk around the areas of Klang Valley, you’ll see new logistic providers appearing. At one moment as you’ll be driving you start to ask “who is this now?”. Whoever runs a logistic company in Malaysia, we feel that the founders or sales and marketing people are doing an extremely good job because how the heck do they keep on getting new customers or business every day? It’s a crowded market. We think 90% of the logistic providers in Malaysia have a website, mobile app, tracking system and inventory system. If technology didn’t exist, would there still be this many logistic providers? I don’t think so. Technology has helped this industry big time! and technology will still help and improve this market.