Day: September 17, 2021

S’poreans can scan NRIC to collect ART self-test kits at 100 vending machines from Sept 18

With the steadily increasing number of COVID-19 cases lately, it pays to be extra sure.

Those who may have been exposed to COVID-19 can collect self-test kits at 100 vending machines across 56 locations in Singapore from Saturday (September 18).

According to the Ministry of Health, these antigen rapid test (ART) kits will be available for collection around the clock from machines placed in various housing estates, including Choa Chu Kang, Toa Payoh, Woodlands and Pasir Ris.

Here’s how it works

From 18 September 2021, if you receive an SMS a health risk warning (HRW) or health risk alert (HRA), all you have to do is follow the instructions given by the MOH on the testing regime.

There are slight differences between an HRW and HRA, so you need to pay close attention to what kind of SMS you receive.

A health risk warning is issued to those who have been in close proximity with a Covid-19 case for an extended period or are identified as a close contact of a case, based on SafeEntry data.

A health risk alert is also sent to people whose SafeEntry records from the past 14 days overlap with those of a Covid-19 case. This group of people are considered to be at a lower risk of infection compared to those issued with a health risk warning.

Steps for HRW

The process of collection is simple and efficient. All you need to do is scan your NRIC or FIN to collect a pack containing three ART self-test kits at the vending machines and use them for self-testing to fulfil the requirement for HRW.

Those who receive an HRW SMS notification must get an entry polymerase chain reaction (PCR) test at a Swab and Send Home clinic or private practitioner, and self-isolate until they receive a negative result from their first PCR test.

They will also be required to perform self-administered ART tests on the third, fifth and seventh day from the day of last exposure to the Covid-19 case with whom they were close contacts.

They must also do another PCR test on or after the eighth day at a SASH clinic or private practitioner, said MOH.

“If all these are complied with, their HRW period will end on the 10th day of exposure. All swab costs will be borne by the Government,” said MOH.

Steps for HRA

If you receive an HRA SMS notification, you should perform a self-administered ART test on the first, third and fifth day from the day of last exposure. You should also monitor their health until the 10th day of exposure.

“We urge all on HRA to exercise social responsibility and limit their interactions with other persons during that period,” stressed MOH.

ART self-test kits have already been distributed to residential households from August 28.

“I encourage everyone to do the self-tests… I think using them will be a new habit in this Covid-19 new normal,” said Health Minister Ong Ye Kung in a virtual interview today.

The ART tests are not as accurate as PCR tests, but they can help pick up cases quickly and prevent onward transmission of the virus, he added.

Given that COVID-19 cases are on the rise, these vending machines dispensing these ART self-test kits are helpful for sure. You can find the full list of collection points and the steps needed to get the test kits here.

Featured Image Credit: Ministry of Health

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Also Read: First Singpass-enabled alcohol vending machine launched in S’pore, more coming soon

Charge and earn: How this S’pore startup is letting you monetise by selling energy to EV users

Singapore startup QuickCharge aims to provide electric vehicle (EV) users with fast charging solutions right at their doorsteps.

Launched in June this year, they claim to be the country’s first EV charge point retailer and service provider with a unique “Charge & Earn” programme.

Their affiliate automotive company Hong Seh Motors is a seller of electric passenger and commercial vehicles as well as motorcycles. They decided to embark on this concept as they noticed the “chicken and egg issue” where the lack of available EV chargers hinders interested customers from actually going through with their EV purchases.

This comes as the Singapore government rolls out multiple incentives to encourage EV adoption in the nation. Various brands have followed suit and more EVs are launched in the market, but consumers are still not making the switch.

Locals are still unenthusiastic about making the switch from petrol vehicles to EVs partly due to cost of EVs and fears of charging inconvenience. As such, the need for charging infrastructure quickly becomes a pressing one.

Allowing EV charger owners to be ‘energy merchants’

QuickCharge came up with the “Charge & Earn” service to encourage public participation in building the EV community’s charging infrastructure.

This novel programme allows almost anyone to buy and install EV chargers in their property, and earn a passive income by selling energy to EV users. Charge point operators (CPOs) can adjust their EV chargers’ power, or speed, charging rate (price per kilowatt) and charging availability to fit their needs. EV drivers can locate charging points via the soon-to-launch QuickCharge app.

CPOs can adjust the charging rate, which can vary as some owners might have solar panels or other renewable charging sources that affect the base cost of energy. As of yet, there is no regulatory standardisation of charges on the app, but it is possible that regulations be meted out in future.

QuickCharge mainly targets shopping malls, country clubs, hotels and commercial buildings as their CPOs. However, anyone with the space can also buy chargers from the company and sell energy to all EV users.

Thus far, there are over 30 users who have installed QuickCharge’s EV chargers on their own premises, for both personal and commercial use, such as for fleets of commercial EVs.

Leslie Yap, 33, a sales consultant at QuickCharge, has sold six chargers in the past two months.

“The shipment for Tesla cars were recently delayed, but as these deliveries start to pick up, we’re seeing our sales grow too,” said Leslie, who now has nine charger installations in the pipeline.

Offering a range of EV chargers for private to commercial applications

To date, QuickCharge offers seven different EV chargers, with prices ranging from S$1,500 to S$14,990.

The KHONS 1 Phase and KHONS 3 Phase are two of the company’s first Energy Market Authority (EMA) Technical Reference 25 compliant portable chargers for on-the-go recharging. The Aurora 7/22 is a compact AC wall charger suitable for overnight charging in residential use. Their flagship DC quick charger, Venus 30, is suitable for private and commercial use.

Whereas their costlier larger models include the AC/DC charger, Jupiter 60, which is similar to what gas stations offer; as well as the Titan 180, a high power DC charger suitable for kiosks and businesses with electric heavy vehicles.

All chargers are compatible with both Type 2 and CCS2 connectors for all EV models, including commercial ones, as well as niche Japanese electric cars, like the Nissan Leaf, which uses a CHAdeMO connector. Owners can even request for the CHAdeMO connector if required.

The entire product range was created in partnership with China’s leading EV charger manufacturer, StarCharge. Interestingly, StarCharge is also the original equipment manufacturer (OEM) for renowned automotive companies including Porche, Audi, and BMW.

Who can own these EV chargers and potentially make a profit?

According to the current regulations, all EV chargers must be installed by a licensed electrical worker.

Individuals can own a charger even if they’re living in a condominium, but they require the prior approval from the MCST. On the other hand, private landed home owners can own an EV charger on their properties without getting an approval.

In the same vein, individual condo owners can reap profits from selling energy through “Charge & Earn”, if some conditions are met. For example, who reaps the profits is dependent on the scheme the owner signs up for.

There are different schemes available, with regards to ownership of the company’s chargers. These include full payment schemes, installment plans, 50-50 capital expenditures (CaPex), as well as zero per cent CaPex.

The net profit will be shared accordingly, based on the scheme chosen.

There is also no limit on how many chargers one person or entity can own. However, a building’s power supply and grid system can limit the amount of power that be provided to all the charging stations within the building.

“Currently, Housing Development Board (HDB) flat owners are unable to purchase or install our products in their estates. Public carparks are under tender projects launched by the Urban Redevelopment Authority (URA) and the Land Transport Authority (LTA),” clarified Lindy.

EV owners who live in HDB flats can still use the company’s services, by locating the nearest QuickCharge stations on their mobile app.

LTA’s new grant might bring QuickCharge to more condos

For residential users, Lindy Lee, assistant general manager of QuickCharge, said that EV charger installation is much simpler and straightforward in private landed homes than in non-landed private residences (NLPRs) such as condominiums and private apartments.

Installation in condominium carparks is a long process which requires prior approval from the Management Corporation Strata Title (MSCT), held in annual general meetings (AGM) with the committee.

However, condo owners might soon be seeing more EV chargers in their carparks. The LTA launched the Electric Vehicle Common Charger Grant (ECCG) on 29 July 2021 to encourage the installation of shared EV chargers in NLPRs. To date, QuickCharge is one of the few EV charger companies in Singapore eligible for the LTA ECCG.

As an early adopter incentive, the ECCG will co-fund installation costs of 2,000 EV chargers at NLPRs, which form a significant proportion of residences in Singapore. This will significantly improve charger provision and access as well as the overall coverage of Singapore’s national EV charging network.

The grant covers up to 50 per cent of the charging system, capped at S$4,000 per charger; 50 per cent of licensed electrical worker fees; and 50 per cent of cabling and installation works, capped at S$1,000.

The local government announced a 60,000 EV charging point deployment target by 2030, 20,000 of which will be in private premises, and 40,000 in public carparks.

Applications for the ECCG have already been open since 29 July 2021. However, this grant will only be made available until 31 December 2023, or until 2,000 chargers have been supported by co-funding, whichever comes first.

HDB owners, like private landed housing owners, are not eligible for the LTA ECCG, which is only applicable to NLPRs.

Smart chargers and their operators have to fulfill certain criteria, before gaining approval from the LTA.

More EV chargers in the pipeline

QuickCharge said it will be unveiling their new advanced high power charging system, the Nova 360. This DC charger offers greater scalability with up to six charging points per cabinet, and is suitable for commercial use in depots, for example.

The team is heavily involved in conducting regular market research and surveys to better understand the needs of its users. They hope to cater to more users beyond the confines of electric cars, to include more electric vans, lorries, trucks, and buses.

With a team of six sales consultants and counting, QuickCharge aims to expand their product and service offerings and be Singapore’s one-stop solution for EV charging needs.

It will be quite exciting to see how QuickCharge’s “Charge & Earn” programme works out for users once their mobile app is ready.

Electric vehicles is a key content pillar for Vulcan Post. You can find the rest of our EV coverage here.

VP Label puts together all the best local products for you to discover in one place. Join us in supporting homegrown Singaporean brands:

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Featured Image Credit: QuickCharge

Also Read: Why some S’poreans are still saying ‘no’ to EVs despite govt’s plans to phase out ICE by 2040

Naiise owes “millions of dollars” to over 400 brands, does it still deserve a second chance?

(Editor’s Note: Article is updated on September 20 with additional responses)

Homegrown multi-label retailer Naiise made headlines earlier in April this year when it announced its abrupt closure due to financial woes.

It was struggling to repay multiple vendors and in January last year, some homegrown brands were pulling out of its online and physical stores due to payment delays of up to a year.

Following widespread news of its financial struggles, Naiise officially ceased operations on April 14.

Founder Dennis Tay also announced the decision to liquidate the business after eight years of operation, and revealed that he is filing for personal bankruptcy.

Fast forward five months later, Naiise has made an online comeback and relaunched its website yesterday night.

Most brands were not able to recover their debt

The biggest question that weighed on everyone’s minds when they read the above news was: have they repaid all their debt?

Singapore fine fragrance brand The LAB Fragrances — one of Naiise’s creditors — is owed over S$10,000, which has not been fully repaid till today.

After the small claims court officially ordered to Naiise the repayment of S$10,244, Naiise only paid back S$1,000, so we are still owed over S$9,000.

– Taylan Torin, founder of The LAB Fragrances

Recounting his partnership with Naiise, Taylan Torin, founder of The LAB Fragrances, said that they started selling with Naiise back in May 2019. Naiise had duly paid them for the first two months (in May and June 2019), but defaulted on all the subsequent payments.

He acknowledged that the sales generated through Naiise were “actually pretty good”.

“They were cashing in the money generated from sales of all the products from the brands they were carrying, but just were not returning the contracted portion of that money back to brands,” he explained.

The LAB Fragrances continued on with Naiise until July 2020, before they finally lost all faith in them after “countless empty promises and different sorts of excuses”, the last of which was Covid-19.

However, it’s a known fact now that Covid-19 was not the primary reason for the retailer’s downfall. In fact, it has reportedly been defaulting on payments since 2016.

As such, many brands see this Covid-19 narrative as a mere coverup for their mistakes.

Taylan said that it is also well-known among the micro-brands community how Tay and his wife (who is an ex-director of Naiise) were maintaining a luxurious lifestyle, while telling brands that they had no money in the vaults at the same time.

According to a document by Deloitte — which oversees Naiise’s liquidation — seen by Taylan, Naiise owes money to over 400 brands, totalling “in scale of millions of dollars”.

Deloitte tells that the acquisition of the online assets of Naiise didn’t generate enough money to be able to repay any of the brands.

We understand that the money generated will be used to cover the debts of Naiise to priority creditors such as landlords and/or banks. So no brand will benefit from this transaction. 

– Taylan Torin, founder of The LAB Fragrances

Summing up, Taylan describes this whole experience as frustrating, and finds it unfair for micro-brands who are the most vulnerable.

He cited several reasons to this, such as them not having proper legal representation, not having resources to defend themselves, not identified as “prioritised creditors” so they don’t benefit from the redistribution of the liquidated assets, and the lack of options to create and build sales channels so they feel obliged to follow initiatives like Naiise.

He added that the common belief among the local retail community is that Naiise took advantage of this vulnerability to finance themselves.

“At the end of the day, everyone gets a slice or two; but there is nothing left for these brands.”

So why is Naiise returning to retail?

With the relaunch of Naiise, it’s safe to say that Tay is out of the picture as the company has since been acquired by WestStar Group. The sum of the acquisition deal was not disclosed.

WestStar Group is an independent multi-portfolio investment company that provides independent and professional investment advice, and personalised investment management services to entrepreneurial families and institutions.

It’s helmed by Ong Lay Ann, the former CEO of the now-defunct honestbee. With how honestbee exited Singapore (also plagued by financial problems), it does not exactly inspire confidence in the new management.

However, in an interview with Vulcan Post last year, Ong shared that he has had a fair share of experience helping to turn around sinking ships.

I’ve done a number of these turnarounds and restructuring before. I’ve got a track record of doing this. In Australia, I turned around a company pretty fast. I actually hired back the management that used to run it and (together), we built it from nothing … (till) it’s listed on the Australian Stock Exchange.

Today, I’m still the chairman and larger shareholder there. Along the way, we’ve acquired a few more businesses and today, it’s profitable.

– Ong Lay Ann in a 2020 interview with Vulcan Post

He also shared then his plans to save honestbee by shifting its focus to a quick-service restaurant (a pizza joint in particular), and restart its online grocery delivery business in Malaysia, Thailand and the Philippines.

None of these plans have come to fruition unfortunately, and there has been no new movements from honestbee since then.

With his failure to revive honestbee, can we then trust Ong to do the same for Naiise, which has lost a lot of consumer and brand confidence?

As the saying goes, ‘once bitten, twice shy’. Regardless, a second chance is only fair and this website relaunch might just serve as a successful restart for the business.

What’s different this time round

Under this new ownership, Naiise will stand strong to its initial commitment of championing local designs, creatives and artisans.

Naiise’s current business model works just like a typical online marketplace, where products purchased is fulfilled by vendor.

Naiise has also promised sellers that they will be “paid instantly upon every successful order fulfilment”.

Previously, products are sold on a consignment basis where suppliers are paid only for the merchandise sold, minus a commission fee of between 30 and 45 per cent of the retail price.

The company also has plans to introduce an “incubator model for upcoming designers” and “buy now, pay later concepts”, which are currently in the pipeline.

Vulcan Post has reached out to both WestStar Group and Ong to elaborate further on their business plans to grow Naiise, but did not receive any replies as of yet.

According to Naiise, over 500 merchants will be featured gradually on its platform. It will feature more hyper-local, eco-friendly and independent international brands in the coming months, including debut from new brands.

Some brands listed on its new website include Wet Tee Shirt, Punny Pin Greeting, Ecobar SG, Wick & Litt, Changi Chowk and Petale Tea, amongst others.

Why some creditors are jumping onboard Naiise again

It’s interesting to note that multiple brands — which are creditors of Naiise — are now relisted on Naiise, such as Wet Tee Shirt, Neis Haus, Punny Pin Greeting, Changi Chowk, Petale Tea and Farm to Market.

Nicholas Chan, director of Wet Designs, which owns and operates Wet Tee Shirt, told Vulcan Post that Naiise owes them over S$69,000 and has yet to fully repay the debt.

When Naiise was still operational, the startup had attempted to restructure the debt.

We were offered some payment of our invoices, but we indicated that we can be paid later as long as the profits from our end can pay off the few trouble-making vendors (those who want to see the demise of Naiise to the end), so that Naiise can focus on making sales.

This was done one to two weeks prior to these few vendors — most of whom got paid — making noise in the media about Naiise focusing on online-only play and shutting down its retail stores, (to the point) that the banks foreclosed on Naiise.

– Nicholas Chan, director of Wet Designs

After these group of vendors “successfully took down Naiise”, Wet Tee Shirt offered to exchange debt for equity in Naiise.

They attempted to bring together the major creditors to buy over Naiise’s assets to rebuild it, with participating major creditors getting a “special debt repayment schedule” from the newly-formed entity in exchange for their commitment in the acquisition.

However, this fell through because of the “sabotage” from the few vendors, lamented Nicholas.

When asked why the company chose to relist on Naiise, Nicholas explained that Naiise has performed well in the past with its focus on hyperlocal products.

“It’s not deviating from that approach, so I do not see any issues,” he said. “I (also) think it’s great that Naiise is able to restart operations, albeit with a new management. The old management had their heart in the right place, but had no business sense in working with local brands and businesses.”

(Moreover), the overall (retail) market has been bad for over two years, and marketplaces like Lazada and Shopee, which is flooded with cheap China junk, has been decimating local brands left and right. Our presence there only results in China knockoffs of our products.

(Running a) business is always about risk-taking. We just take the risk that the new management is willing and able to keep to the original focus in hyperlocal products.

– Nicholas Chan, director of Wet Designs

This is the very key factor that is crucial for Naiise to survive and thrive: the ability to convince and attract brands to get listed on Naiise. Without the support of these brands, Naiise will just be an empty shell.

One way it’s attracting brands is by offering merchants a waiver of listing fees and reduced last-mile delivery rates till the end of this year.

Naiise still stands a fighting chance

Prior to its saga, Naiise was seen as a success story in the sluggish retail scene and a champion of local designers.

It provided a platform for local brands to market themselves, and was the go-to place for quirky and Singapore-themed products like kueh-shaped cushions and t-shirts with Singlish slogans.

Right now, establishing a purely-online presence is a smart move, especially when retail has taken a huge hit during these pandemic times. It’s important for Naiise to only consider expanding when they have time and money on their side. After all, rapid growth can end up killing the business.

Today, Naiise is still helping to bridge a gap for local brands who need to market themselves. There’s not many of other such platforms or initiatives in Singapore, besides Design Orchard.

If Naiise is helping to solve a pain point, then it still stands a fighting chance. It just needs to make sure that history does not repeat itself, and if their core mission is to support local brands, then they better stand by it.

Featured Image Credit: Naiise

Also Read: S’pore retailer Naiise acquired by WestStar Group, helmed by ex-honestbee CEO Ong Lay Ann

How he’s using 20 years of software expertise to help older Cheras hawkers go digital

Author’s Blurb: As a young working professional, cheap decent food reminiscent of my mum’s homecooked meals is what I’m more drawn towards these days, since I’m trying to save up more.

But the pandemic didn’t make it easy to access hawker food, and options on popular apps like Grab and foodpanda were limited. Noticing this gap in the market, Tan wanted to put his background of 20 years in the software industry to good use.

Moreover, as a customer of both the aforementioned apps, Tan was also aware of how high the prices of meals were in these apps. Thus, he launched Air Kopitiam to tackle these issues via a cloud kitchen and an app.

Hawker food haven

On the app, you’ll find almost all the typical stalls you’d see in a big hawker centre. There’ll be the usual wantan mee, chicken rice, char kuey teow, chilli pan mee, kopitiam Western food, curry mee, bak kut teh, porridge, satay, fish ball noodles, etc. 

In fact, Air Kopitiam itself is also a vendor in the app selling drinks, kaya bread, and half-boiled eggs, the way an actual kopitiam owner would. 

Air Kopitiam is located in Taman Taynton View, Cheras, and the hawkers run their businesses in what’s essentially a large, open cloud kitchen that operates from 10AM to 8PM daily. Currently, it has 35 hawkers onboarded (manning a total of 120 stalls) and 18 riders from its own fleet to fulfil orders. While dine-in options are available there, it’s running mainly on its delivery services as of now. 

One thing to note is that even though Tan’s goal is to make affordable hawker food more accessible, Air Kopitiam’s food is marked up 10% higher than what you’d find in a regular kopitiam. I’d say it’s fair considering the digitalisation efforts needed to make the business work.

Comparing its food prices against Grab or foodpanda though, there are definitely a lot more options below RM10 on Air Kopitiam, which points to Tan’s goal still being achieved.

Timing is key 

Tan shared with Vulcan Post that their entire operations run on logic so the timing has to always be on point to ensure that operations are as efficient as possible. Behind the scenes, this is what goes on.

“You ordered from three hawkers, let’s say the first one is char kuey teow, the second one is wantan mee, and third is pork noodles,” Tan gave an example.

“Let’s say the wantan mee is the only one that’s busy among the three and will need about 20 minutes to finish cooking [and to] put the meal on the conveyor belt to be delivered to the control tower (where the riders collect the food from). Hence, the other cooks will not be notified to start cooking until the wantan mee vendor is ready so that all three meals will reach the control tower at the same time.”

This system helps ensure that all the food made will not only remain fresh, and also so that they don’t keep their riders waiting for a long time. 

Since timing is so critical to their operations, Tan decided to employ their own fleet of riders instead of outsourcing third-party riders, which he finds is more reliable when it comes to delivering the fresh food to their customers in a timely manner. 

As Air Kopitiam is behind both the app and the centre’s software, it’s also much easier for the team to control the overall efficiency and tackle any predicted or sudden issues.

Empowering older and semi-retired folks

To be an Air Kopitiam vendor, Tan charges about RM800 to RM1,200 per month for rent. On average, his vendors make about RM100 per day in sales and Air Kopitiam gets about 100 to 200 orders per day.

“This is actually very low but it helps them get through times like this,” Tan shared with Vulcan Post. 

Most of their vendors are of the older crowd and are semi-retired, but despite their old age, a lot of them took interest in this modern hawker concept to work with. “They like this method of doing business. They can relax in the store instead of relaxing at home without making money,” he described.

As the centres these hawkers were originally in weren’t doing too well, they didn’t hesitate to make the switch, Tan said. Furthermore, a big selling point Air Kopitiam has is that there, hawkers don’t need too many hands on deck (serving, collecting money, etc.) so it saves them money on manpower. All they need to focus on is cooking their best.

Because Air Kopitiam wants to have a variety of vendors on their app, they don’t take more than one provider of the same food (e.g. they won’t hire 2 chicken rice hawkers). To onboard these hawkers, Tan would just have them whip up a simple meal for the Air Kopitiam team to try, and if the quality and taste are up to their standards, business it is.

Potential in the food delivery market

Though I haven’t ordered from the app yet, I’d say that so far the UX is pretty smooth and simple to navigate around. The graphics are not as polished as the other established food delivery apps, but it doesn’t hinder the experience too much.

A roasted chicken rice and Cham ‘O’ would cost me only RM9.50, which may be slightly pricier than dining in at a kopitiam, but definitely much cheaper than what I’d get on Grab or foodpanda. However, the delivery fee is RM6, which is around the fee I’d pay for food deliveries from Grab or foodpanda when ordering from the same area.

Delivery time is about 43 minutes (during peak hours for dinner) despite my place to Taynton View being less than a 10-minute journey by car. For now, the wait is justifiable since digitalisation would mean the hawkers get more orders at a time, and Air Kopitiam’s rider fleet is still small too.

If Air Kopitiam wants to scale to reach more Malaysians across the Klang Valley, it’s likely that it’ll have to open up more centres and hire more riders. That being said, its current ability to empower older hawkers in the digital age to continue earning their own income is a good starting point.

Bottom Line: Hawker food will always be in demand despite not being as accessible at times like this, and Air Kopitiam is an example of how we can fill in that gap in the market. Overall, I do see potential in what they do because they are very competitive in terms of pricing and convenience, which are two of the most attractive things in the F&B scene during the pandemic. 

• You can learn more about Air Kopitiam here.
• You can read about more Malaysian startups we’ve covered here.  

Also Read: Alibaba Cloud was a star player behind the scenes in this year’s Tokyo Olympics, here’s how

Featured Image Credit: Tan, founder of Air Kopitiam

Temasek-backed Growthwell Foods raises US$22M to make more plant-based meat, seafood in SEA

Homegrown manufacturer of plant-based alternatives for meat and seafood Growthwell Foods announced yesterday (September 16) that it has successfully raised US$22 million (S$29.6 million) in a Series A funding.

The funding is backed led by Creadev, with the participation of GGV Capital, Iris Fund (Iris Capital and Hanwha, supported by Penjana Kapital) and existing investors Temasek and DSG Consumer Partners.

According to the company, this current seed money is nearly three times the US$8 million raised in 2019.

It hopes that this new investment will fund Growthwell’s vision to become Asia’s leading plant nutrition food tech company and help reduce the world’s reliance on meat and seafood, as well as reduce the impact on the environment.

“We are extremely pleased to have global investors like Creadev and GGV Capital onboard Growthwell as we look to scale up our plant nutrition business beyond Southeast Asia”, said Justin Chou, Executive Director of Growthwell Foods.

“We believe our current series A fundraising round is one of the largest in the Southeast Asia food tech space, and we will continue to trail blaze plant nutrition in Asia.”

Plant-based food is the future

The alternative meat scene has been abuzz with more plant-based firms emerging in Singapore, with interesting products such as vegan bak kwa and plant-based yakiniku meat.

With increased demand and market for plant-based options, investing in Growthwell is a decision that shows foresight.

“Observing consumers’ rising consciousness toward healthy eating and sustainable consumption, we have a strong conviction that the plant-based food targeting the younger generation and flexitarian consumer group will have robust growth in the years ahead,” said Alan Zhu, co-head of Creadev China.

The same sentiment is shared by Jenny Lee, Managing Partner of GGV Capital, who concurs, “We look forward to partnering with Growthwell to capture the large mass-market opportunity in alternative protein and to develop new, affordable, and delicious plant-based analogues that people from all walks of life will enjoy eating”.

With Growthwell’s origins in meat substitutes, the company is currently focused on seafood alternatives. It plans to take it a step further with a new collection of seafood and chicken alternatives aimed at the growing number of flexitarians. 

As David Attenborough so proclaims in ‘A Life on Our Planet’, the only way to save our planet is by going plant-based. With the current support and investment in the field, I’d say we have a fighting chance.

Featured Image Credit: Growthwell Foods

Also Read: This 27-year-old S’porean makes vegan tempeh bak kwa – has thousands on her order waitlist

They’re on a mission to change the way we access the internet, starting with Sabah

[Written in partnership with MaGIC, but the editorial team had full control over the content.]

While internet connectivity has long been considered a luxury, the pandemic has exposed its necessity, pushing broadband services as a utility service, just like water and electricity.

Up until December 2017, Telekom Malaysia (TM) controlled 90% of the country’s market share in broadband, creating near-monopoly conditions. A few new entrants have come in, but most users still depend on TM’s infrastructure. 

That’s according to iFIBER, a licensed Malaysian telecommunications company creating an open-access network so users can easily switch between multiple internet service providers (ISP) as needed. The service is modeled after Vumatel, a South African startup that toppled the broadband monopoly in that region.

iFIBER shared that with little competition, consumers suffer from slow connections, patchy coverage, and inflexible contracts. For example, Malaysia’s average internet speed stands at 93.67Mbps, while Thailand and Singapore record an average of 308.35Mbps and 245.31Mbps respectively.

Bad internet coverage has seen residents in rural areas finding the means for a stable connection, and one event that made ripples through the news was when Sabahan student Veveonah Mosibin (Veve) climbed a tree to sit for an online exam. Inflexible plans also cause users to be locked into 24-month contracts where they are charged hefty penalties for early terminations.

Now, iFIBER has set its sights on tackling these issues, aiming to bring flexibility and affordability to its customers.

Here’s how it works

iFIBER’s role in improving Malaysia’s internet connectivity is to set up the infrastructure and be a fibre broadband provider to businesses and individuals. The company, while not an ISP itself, merely offers the hardware and sets up services for the end users. 

Having an open-access network means that multiple ISPs can offer broadband services using the same infrastructure. Consumers can switch ISPs any time without installing new modems, routers, or cables.

At the same time, iFIBER launched its own ISP brand, VeVe Telecom. It was named after the aforementioned Sabahan student, and features a monthly subscription plan as opposed to the usual long-term contracts. 

The brand works with 2 kinds of property markets, greenfield (new projects) and brownfield (old buildings) apartments.

For greenfield apartments, hardware like fibre cables and WiFi routers are pre-installed in buildings via iFIBER’s partnerships with new property developments. Here, users will have access to a plug and play model.

To access its services, users will have to subscribe through its marketplace and choose between broadband services with different pricing structures and offerings. From there, its team claims that the service will be activated in 20 seconds.

For old apartments with copper cable already installed, the startup will lay new fiber optic cables to the home based on customer demand. 

To drive growth, iFIBER is offering free installations during its current pre-construction period. It’s where apartments will be pre-installed with a modem and wifi router ready for customers who subscribe to VeVe Telecom. Otherwise, the installation fee will cost RM150.

Already generated RM1 million revenue in Sabah

iFIBER started its proof of concept (PoC) at MaGIC in January 2018 where its team developed the open-access software’s backend system at the Cyberjaya facilities. The startup also launched its first pilot project Cyberjaya Gigabit City in April 2018. 

From there, they used MaGIC’s facilities to demonstrate the open-access concept to property developers and state governments. The demonstration won iFIBER a contract from a Sabahan property developer which operates and manages 12,000 apartments. 

“Majority of Sabah’s broadband market is still using copper and we saw an opportunity that 80% of Sabah residents do not have fibre infrastructure yet and are dependent on mobile broadband whose internet speed is below 10Mbps,” Shaharin Saman, CEO of iFIBER shared.

This large-scale installation managed to obtain iFIBER 1,500 subscribers in Kota Kinabalu, bringing in RM1 million in revenue after 8 months.

iFIBER is now planning to raise RM10 million from investors to supplement a total of RM50 million in financing to expand the open-access network in Sabah. If its plan works as intended, it will obtain 150,000 users by the end of 2022. 

With this funding, it will also deploy its infrastructure in Klang Valley homes and businesses along the MRT line from the Sg Buloh to Kajang route in Q1 2022. Through this project, it aims to enable 4,000 buildings with an estimated 500,000 housing units with its open-access network.

“With the experience that we have in Sabah, we are quite confident that the open-access network concept will be well accepted by residents in Kuala Lumpur that prefer flexibility, multiple choice of ISPs, [and] month-to-month services instead of long term 24-month contracts [which are currently not available for Klang Valley residents,” Shaharin told Vulcan Post.

To complement its broadband connectivity setup, iFIBER is also rolling out an in-house content company known as IGG Arena. It will function as a virtual eSports platform integrated with 400 games publishers.

Shaharin added that this is iFIBER’s marketing strategy to convert eSports players who download iGG Arena software into users of open-access networks.

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Many complain about their internet often (our Vulcan Post office included), but don’t switch their ISPs on a whim. Though it may be due to long contracts by their ISPs, education is still lacking on what solutions are available in the market.

iFIBER is emulating a business that succeeded in South Africa, where 70 ISPs jumped on board its open access network, including the nation’s monopoly at the time (according to data provided by the company). 

Although it may come off as though iFIBER is trying to do too much with its hardware setup, software onboarding, and eSports business, each subsidiary complements one another. The latter will help it attract an existing market of gamers in Malaysia, which is one target market that needs a strong internet connection. 

To add, it’s a smart move by the startup to partner property developers to build its hardware into new buildings, providing residents with the option to use its move-in-ready services if they deem it beneficial.

iFIBER now has to increase its brand awareness and further educate Malaysians that there are better options out there, and it must live up to its word of being the better option for accessing ISPs.

• You can learn more about iFIBER here.
• You can read about other Malaysian startups we’ve featured here.

Also Read: 9 facts about personal loans in M’sia you should know to borrow responsibly in a pandemic

Featured Image Credit: Shaharin Saman and Wan Mohalina, CEO and Managing Director of iFIBER

He started a biz to boost Penan women’s incomes, now their crafts are in 5-star hotels

Adie Dali first came across Penan bags during a trip to the morning market in the outskirts of Brunei a few years ago. The meticulous rattan bags stood out in a way that caught his eye as they were crafted and handwoven by Penan ladies from a remote town in Ulu Baram, Sarawak.

Using the bags back home in the Klang Valley, he’d receive many queries from family and friends who wanted one too. Adie would then make trips back to Borneo to source more products and learn about the indigenous Penan community. 

“They help to protect our dying biodiversity and we actually need them more than we think they need us. By fighting for their lands, indigenous people are fighting to save the planet,” he elaborated. 

“Although they comprise less than 5% of the world’s population, indigenous people protect 80% of the earth’s biodiversity in the forests, deserts, grasslands, and marine environments in which they have lived for centuries.”

Moved by the community’s stories, Adie developed a goal to spread more awareness about them and launched a social enterprise, Penan Lab. Today, the brand has its own pop-up stores at hotels and resorts around Penang and Langkawi.

Leave it up to the weavers

Penan Lab got its start online after Adie set up an Instagram account for the business in 2018. The brand began gaining traction, giving him the confidence to focus on this venture full time and leave a financial job at a government-linked company.

Despite getting invitations to sell the bags at bazaars pre-pandemic, Adie was selective and was more dependent on online sales.

In its infancy, Penan Lab only sold bags that were ready-made by the community. Since then, it’s onboarded 4 families in Ulu Baram who will weave the bags according to Adie’s designs. 

But that’s about where his involvement in the product design ends, as most of the crafting is left up to the Penan ladies. The social enterprise’s trust comes from the fact that the community has expert weavers utilising traditional skills passed down throughout generations. 

Weavers are paid upfront for their work, and although Adie declined to disclose their rates, he assured that they are paid a fair price.

Once the bags are ready, Penan Lab’s team spends hours making trips in a four-wheel drive on timber roads into the village to collect them before they’re shipped to Shah Alam where the business is based. As logistics to obtain the products and marketing costs are high, the social enterprise has yet to make a stable profit thus far.

However, Adie already plans to donate 10% of Penan Lab’s net profits to The Borneo Project once they reach profitability. These funds will be channeled into the NGO’s grassroots conservation and indigenous-led projects battling climate change. 

High fashion vibes with affordable prices

Taking a look through Penan Lab’s site, the models posing with its tote bags and clutches came off rather high fashion to me. It led to my presumption that Adie was approaching such branding to stand out in a market that already offers Penan bags by other players. Namely, Penan Women Project and The Penan Bags Shop which also work with Penan ladies in Borneo.

While Adie was flattered by this statement as plenty of care is put into the product’s visual appeal, he shared that the high-fashion branding was unintentional and that it wasn’t reflected in the bag’s prices either.

Penan Lab’s maximum prices are RM80 for its clutches, RM119 for bags, and RM370 for a set of 3 large baskets. The current pricing plan is enough to sustain the brand for its fair trade, labour, and logistics required, while still charging consumers reasonably.

To add, Addie shared that he wasn’t familiar with the other Penan bag brands prior to starting his brand, as his main goal was to share his admiration for the community’s craft. “Some locals are proud to parade international designers’ labels on social media, but I want people to start romancing the same ideals with local brands too,” said Adie.

Currently, most of Penan Lab’s customers are ex-pats and those in the T20 category, which is likely due to the brand’s presence in hotels including Angsana Teluk Bahang (Banyan Tree), Penang.

A permanent resident at hotels

This collaboration came about after a recommendation from one of Penan Lab’s VVIP customers, who acknowledged the product’s quality and credibility. According to Adie, it’s common to find fake Penan bags in the market.

“We were invited to have a permanent space in that hotel. Definitely a big honour to us as Banyan Tree is an internationally, highly respected hotel and resort chain in the region, the world even,” Adie proudly said.

Despite having a more premium customer base which is likely older adults, Adie still aims to penetrate a younger target market, as he thinks it’s crucial to educate these consumers as well.

It can be said that the brand is already taking the necessary steps to reach such demographics, as it’s partnered with marketplaces like Poptron which can open it up to a larger audience around SEA.

While online shopping is now the norm, the human touch still plays an important part in the retail experience. Thus, Adie plans to set up at least one physical store in Klang Valley within the next 3 years to engage with more customers face to face. 

However, it would be in Penan Lab’s favour to ramp up its brand exposure and build a loyal customer base first. It could do so by setting up booths at bazaars more frequently once it’s safe again, which can be less capital intensive for the brand.

• You can learn more about Penan Lab here.
• You can read about more social enterprises we’ve covered here.

Also Read: Alibaba Cloud was a star player behind the scenes in this year’s Tokyo Olympics, here’s how

Featured Image Credit: Penan Lab

A dummy’s guide to the plan that our MOSTI minister says can create 5 unicorns by 2025

It’s been a known fact that Malaysia is targeting to attract or grow 5 unicorns by 2030. They can either be homegrown or foreign startups, according to the MyDIGITAL blueprint. 

In recent news, however, newly appointed Minister Dr Adham Baba of the Ministry of Science, Technology and Innovation (MOSTI) reiterated that the ministry is aiming to create 5 unicorns in the next 5 years. 

Furthermore, Dr Adham Baba stated that this target can be achieved through the incorporation of the 10-10 Malaysian Science, Technology, Innovation, and Economy (MySTIE) Framework, which came out in 2020 when Khairy Jamaluddin still led MOSTI.

It’s an ambitious goal for sure, seeing that Malaysia has so far only found one unicorn in Carsome, which hit its US$1 billion valuation milestone in July 2021. 

To recap from our previous article on unicorns: 

Unicorns are hard to build in Malaysia for a variety of reasons, such as our smaller population, a lower standard of living compared to countries with unicorns, and companies lacking the money to pay top talents. 

This makes creating 4 more unicorns in the next 5 years a tall order, so we had to find out how MySTIE can aid in the hunt for Malaysia’s next unicorns.

What the heck is MySTIE?

Simply put, MySTIE lays out certain factors to identify a startup with high potential to drive Malaysia from its current production-based economy into a knowledge-intensive one. And it’s likely that MOSTI will derive its potential unicorns from those who fit the bill.

By looking at 10 identified science and technology (S&T) drivers alongside 10 essential socio-economic sectors, it hopes to enhance the competitiveness and sustainability of Malaysian industries. In return, it should also improve the quality of life of its citizens. 

Identified science and technology (S&T) drivers

These identified S&Ts and socio-economic industries were derived through a study conducted by the Academy of Sciences Malaysia (ASM) in 2015. Researchers based their conclusions off the Emerging Science, Engineering, and Technologies (ESET) around the world, which includes the use of:

Socio-economic sectors to develop

Meanwhile, the socio-economic sectors that are in focus for development by adopting these S&Ts are:

Examples of S&Ts applications in the agritech sector

An example of the MySTIE application can be seen in transitioning the agriculture and forestry sector from a labour-intensive one to being more technology-driven with agritech. 

This can be seen in how Bao Sheng Durian Farm applies 5G to harvest ripe durians, and how farmers are using drones to analyse data on soil conditions, provide fertilisation, and more, for better yield.

MySTIE also encourages the convergence of technologies that facilitates the transformation of each sector. This, in turn, creates a multiplier effect on other socio-economic drivers. 

For instance, modernising the agriculture sector can contribute to a vibrant agritourism industry, hence providing a lucrative revenue stream. While in the energy sector, agritech can facilitate the generation of renewable energy from biofuels.

Identifying startups with potential

MySTIE has also laid out the factors that would make a startup fit this bill called the National STIE Niche Areas. It involves a company possessing 8 ecosystem enablers (like human capital and internationalisation potential) to enhance the value of socio-economic sectors.

For a company to fit into MOSTI’s identified National STIE Niche Areas, a company needs to have:

• The potential to become an economic booster and have wide societal impact;
• Alignment to Malaysia’s strengths and needs;
• Be inclusive and contribute to a multiplier effect to other sectors and communities across Malaysia.

Once these businesses have been identified, MySTIE will deploy projects to address the needs of communities and their quality of life. The mechanism comprises 6 steps starting with educating businesses on the 10 S&T drivers and how they impact the business’s core operations and influence the chosen socio-economic areas.

It will finally end with future-proofing a business where regular foresighting is conducted to ensure the business is adapting to change and is able to mitigate risks.

Could Malaysia’s next unicorn be a drone startup?

After learning about MySTIE, it does showcase a more detailed plan in helping Malaysia achieve its forecasted goals under MyDIGITAL and subsequently, finding the nation’s next unicorns. 

As for who could potentially be Malaysia’s next unicorn, a startup like Aerodyne seems to be a solid contender. Though its valuation is currently undisclosed, it’s already been listed as a minicorn with a total funding US$47.29 million.

Editor’s Note: Information in the above paragraph has been edited to reflect greater accuracy.

To elaborate, Aerodyne is a provider of SaaS and AI-based drone services. The data collected by drones is processed by AI-based proprietary software in order to offer actionable insights. 

These services already check MySTIE’s S&T boxes of advanced intelligent systems, along with augmented analytics and data discovery. 

Catering to the oil and gas, power, telecom, renewables, construction, agriculture, and infrastructure sectors, it also checks at least 3 of MySTIE’s identified socio-economic drivers. 

On top of that, the dronetech startup operates across multiple locations like Australia, Japan, Malaysia, Singapore, Brunei, the USA, UAE, Chile, and Indonesia.

That being said, there are a lot of other candidates as well, and the right support that goes beyond monetary value will be necessary in order for our minicorns to evolve. Here’s to seeing more Malaysian unicorns by 2025.

• You can read more unicorn-related pieces we’ve written here.
• You can read more MyDIGITAL articles we’ve written here.

Also Read: 9 facts about personal loans in M’sia you should know to borrow responsibly in a pandemic

Featured Image Credit: Minister Dr Adham Baba of the Ministry of Science, Technology and Innovation