These earbuds are Sony’s response to the Apple Airpods Pro. Are they enough to dethrone it?
Ever since I started my audio-loving journey back in college, I’ve been a huge fan of audio equipment and have probably amassed a collection of 10 pairs of earphones and headphones.
Sadly, wired audio devices can be annoying to deal with. I’m sure we’ve had experiences of breaking headphones after dropping them by accident thanks to tangled wires.
Luckily over the years, we’ve had more wireless audio equipment cropping up thanks to the improvement of Bluetooth technology. However, if you talk to any audiophile (I don’t quite consider myself that yet) they’d say that wireless headphones will never beat wired ones in audio quality.
I originally thought I would never sacrifice my love for audio quality for convenience, but that changed when I was introduced to the Sony WF-1000XM3. Ever since then, my love for wireless audio grew tenfold.
It was enough to win me over, and it now serves as my daily pair of earbuds. That was until I got my hands on the new Sony WF-1000XM4. But, how does it compare against the previous generation (WF-1000XM3) and the Apple Airpods Pro?
First impressions
At first glance, I’ve noticed the case of the WF-1000XM4 is marginally smaller than the previous generation, and that improves its portability. Surprisingly between the 3, only the WF-1000XM4 could stand by itself, while the others had a rounded bottom.
That said, the casing is not the only thing that has shrunk. Compared to the XM3, the XM4 buds are smaller and to me, they fit much better. With the XM3, I always had the niggling feeling that they’ll fall right out of my ears whenever I start moving too much.
Thus, I feel safer taking them for a run too. Not to mention, the XM4 is also IPX4 rated so it can withstand sweat and rain.
While pairing the XM4 to my phone was fairly easy, you will need to download the Sony Headphones Connect app to fully utilise the earbuds’ capability. Sadly, the update was annoying to go through as I had to ensure my phone was nearby and I had to re-update for a few times for it to complete. But once the update is done, it’s smooth sailing the rest of the way.
Small but packs a punch
Audio-wise, do note that this is a subjective review and your mileage may vary. I am reviewing the XM4 based on my own music preference and tastes.
I personally enjoyed the sound coming out of the XM4 more than the XM3. It could be down to placebo or just ear tips of choice, but the music from the XM4 sounded cleaner, clearer, and had a more defined bass.
Coming up against the Apple Airpods Pro, I can earnestly say I prefer the XM4s (this is coming from an average Apple enjoyer too) because of the capability to tweak the equaliser based on my own preferences. If you want more bass or more treble, you can tweak it accordingly. With the Airpods Pro, you’re stuck with presets under Apple’s Music Settings, unless you tinker with it through third-party means.
Other notable features
The XM4 comes with 8 hours of listening time with noise cancellation on, and an additional 16 hours of battery life from the case. If you turn off noise cancellation, you can even stretch it up to 32 total hours of listening time. Meanwhile, the XM3 and the Airpods Pro hover around 30 hours and 28 hours respectively.
I’ve personally also noticed that between the three, the XM4 has better noise cancellation, better than the Airpods Pro even. I have a fan that blows directly in my face when working, and the XM4 manages to nullify most of the wind sound, whereas the Airpods Pro lets in some noise every now and then.
Sadly, the XM4 does have a downside that Sony hasn’t been able to completely master. The call quality is not on par with the Airpods Pro, but it is marginally better than the XM3.
Another annoyance with the XM4 is that it can’t be paired with multiple devices. It’ll take a while to unpair your phone and to pair it with your PC. While the Airpods Pro can’t do it seamlessly either, you can quickly unpair and pair the buds between Apple devices.
With how connected our lives are to devices now, it makes perfect sense for more brands to allow for multipoint connections, and this is something Sony should improve to increase adoption.
Verdict
I personally will put the Sony WF-1000XM4 as my TWS (truly wireless) earbuds of choice, even when I am using an iPhone. Its music quality, battery life, and noise cancellation sit on top of the pedestal of TWS earbuds.
However, its RM1,099 price tag might put off some people. But if you wish to have the best of the best, this is a worthy pickup. If in-ears aren’t your pick, the Sony WH-1000XM4, which is the headset version, is also worth a look.
Here are some specs for the geeks:
Sony WF-1000XM4 | Sony WF-1000XM3 | Apple Airpods Pro | |
Price | RM1,099 | RM899 | RM1,099 |
Battery Life (Buds) | Up to 12 hours (NC off) | Up to 8 hours (NC off) | Up to 5 hours (NC off) |
Battery Life (Case) | Up to 32 hours | Up to 30 hours | Up to 28 hours |
Noise Cancellation | Active Noise Cancellation + Ambient Sound Mode | Active Noise Cancellation | Active Noise Cancellation + Transparency Mode |
Bluetooth | 5.2 | 5.0 | 5.0 |
Audio Codec | SBC, AAC, LDAC | SBC, AAC | SBC, AAC |
Wireless Charging | Yes | No | Yes |
VP Verdict is a series where we personally try and test out products, services, fads, and apps. Want to suggest something else for us to try? Leave a comment here or send the suggestion to our Facebook page.
Also Read: Alibaba Cloud was a star player behind the scenes in this year’s Tokyo Olympics, here’s how
He left engineering to start an edutech site that helps M’sians explore new interests
[Written in partnership with MaGIC, but the editorial team had full control over the content.]
Growing up in a family of teachers, Jimmy Chong was a straight-A student all the way to his Master’s degree. But after being an engineer for 3 years, it dawned on him that the work wasn’t what he wanted out of life.
Instead, he wanted to found his own startup that was aligned with the educational environment he hoped to provide for his own kids.
Partnering with his wife, Ichin, who’s also a HRDF certified corporate trainer that’s conducted over 1,500 sessions in the past, the couple founded Evetag. It’s an edutech platform with an aim to make learning fun by providing after-school classes for kids, including ones that even adults can enjoy.
“We want to enhance the learning culture by gathering cool and creative classes for kids and lifelong learners. We support them to go after what they are passionate about, and enjoy learning what they are interested in,” Jimmy told Vulcan Post.
Catering to kids and their parents
Malaysia doesn’t lack edutech platforms that match students to teachers of various expertise in different subjects. We’ve written about virtual arts and crafts workshops, online corporate training programmes, and even a tutor-student matching marketplace.
But despite multiple edutech platforms already existing and tackling their own niches, Evetag’s founders still saw a gap in those offering subjects outside of the academic context.
Looking at Evetag’s site, it’s clear that while it’s offering classes in the academic sense, it also lists hobby-based ones like vocal training, kimchi making, nail artistry, or martial arts.
This opens up users to learning multiple skills on a single platform, without necessarily having to leave the house or find referrals for tutors who have the skillsets to teach the classes. Parents looking for tutors for their children will also feel more safe and secure knowing that they are engaging in a trusted learning environment.
“It is our intention to cross-sell adult-based courses when parents are browsing through our platform. We have seen parents who purchase kids’ robotic programmes also buy adult acrylic painting classes,” Jimmy added.
Pay as you learn
Using a pay-per-class model, users can simply book a slot for a course of their interest and pay the teachers through Evetag’s payment gateway.
Evetag takes a minimum 5% cut for each successful transaction, and teachers will only receive the settlement when students attend the session.
All 250 educators that are currently on Evetag, called EdPartners, went through an interview with the platform’s team to pitch their services, supported with testimonials as a reference for their classes’ quality.
In the case of any possible disputes in the future, EdPartners are protected as they must also provide their company registrations or personal details to verify their services.
Trial sessions with new educators and selected users are also held so the former can gain insights and validation for their services on the platform.
To date, at least 500 classes have been conducted through Evetag, attended by 3,000 users on the site. But before this happened, Evetag struggled with user retention.
When Evetag’s beta version was launched in 2020, the team realised there was a lack of motivation from customers to begin their courses. Users also did not see the point of paying for courses on Evetag’s site as they could just buy them directly from the educators.
Hence, the team rolled out a point-based system where every successful payment earned users an equivalent amount of points, which can be used as a discount on their next purchase.
The solution was an effective fix and solved the retention issue. EdPartners were also more motivated to use the platform as it was able to help them keep track of transactions, save time on paperwork, and have automated reporting systems.
Planning for the future
Moving forward, Evetag is setting a new goal for its GMV sales. To reach its target, Jimmy stated that it’s crucial for the team to secure more quality, yet affordable courses on the platform.
Dictionary time: GMV or Gross Merchandise Volume is a term used in online retailing to indicate a total sales monetary-value for fees paid through a marketplace over a certain time frame.
“We are planning to collaborate with more education segments, including Massive Open Online Courses (MOOC) platforms to allow our users to access more learning opportunities,” Jimmy said. MOOCs offer accessible and affordable remote learning available opportunities to students all over the world.
Looking at the number of edutech platforms available just locally, it can be said that Evetag will be spoilt for choice. Evetag could even look to partner with other SEA platforms to penetrate the larger market via partners’ user bases.
Being a part of MaGIC’s GAP Cohort 5 will also open Evetag’s team up to collaborative opportunities with other startups, including those outside Malaysia such as GuruInovatif, an Indonesian edutech marketplace.
Also we plan to introduce our Learn-To-Earn concept by integrating the NFT element into the learning experience. Inspired by the Axie Infinity Play-To-Earn model, we want to redefine the purpose of learning, giving learners extra motivation to learn, hopping on blockchain technology to attract, reward, and recognise learners more in a more innovative way.
Jimmy Chong, CEO of Evetag
Evetag would be able to do so through their recent funding of half a million Ringgit from Agmo Studio, a software development firm that has served 8 Fortune 500 companies in the past decade.
“With the addition of Mr. Tan Aik Keong into our team as the CTO, and with [the company’s] capacity to adopt AI and blockchain technology, we are looking forward to pushing our marketplace to a higher level, and serving our users better,” hoped Jimmy.
Also Read: Alibaba Cloud was a star player behind the scenes in this year’s Tokyo Olympics, here’s how
Featured Image Credit: Jimmy and Ichin, co-founders of Evetag
They took only S$600 monthly salary at the start, now S’pore’s XM Studios is making millions
If you see a toy figurine like this in someone’s home on full display, you need to make a mental note that this person is a really serious toy collector.
These figurines from Singapore’s XM Studios aren’t regular toys. They cost at least S$599 apiece, and some can even cost up to S$6,000 each.
Some of these hot collectibles are known to sell out within minutes of their launch.
XM Studios is a high-end toy manufacturer that designs and produces handcrafted, porcelain statues of characters from various pop culture comic brands, including Marvel and DC.
They are works of art, as each statue is individually painted by hand.
One might think that the pandemic may have led to slower sales for this company due to the collectibles’ price tags. But that’s not the case.
Last year, the company’s revenue doubled to S$16.9 million while profit after tax was S$4.2 million.
The firm is growing fast, probably supported by collectors with more disposable income as more work from home and are not able to go traveling.
Earlier this month, XM Studios raised S$4.5 million in a deal anchored by Temasek’s Heliconia Capital to fuel expansion plans.
The company currently has a presence in around 35 markets and employs over 50 staff.
However, XM Studios’ journey to get to where it is was certainly fraught with challenges and obstacles.
We take a look at how far the founders Ben Ang and his brother Seng have come since they started their business in a humble shophouse at Bras Basah in 1997.
They invested their S$1,000 tuition fees to start the biz
24 years ago, the brothers Ben and Seng took a sum of S$1,000 meant for polytechnic school fees and invested it in Xenomorph, a collectibles toy store in Bras Basah Complex.
Ben, who is currently the CEO of the company, was only 23 years old at the time.
It was tough starting out. The founders who are comic book fans struggled to stay afloat at the beginning. They taught airbrushing workshops, charging S$50 for eight lessons to get by.
Still, that was difficult for the brothers, who had to work seven days without rest.
They drew a low salary of S$600 a month each and only took a break during Chinese New Year.
Thinking out of the box to survive
In the first few early years, Xenomorph had slowly grown into a family business. The pair’s oldest brother and retired father joined the company soon after, and it was on Ben and Seng to ensure that all mouths were fed.
At one time, the business even made large-scale models for companies like Universal Studios at the Resorts World Sentosa theme park.
However, these ventures were to Ben, unsustainable in the long term.
That’s because these artists were getting older and it was becoming physically taxing to climb up scaffoldings to do maintenance work.
One day Seng told Ben that he didn’t mind working part-time or becoming a taxi driver in the meantime while running the business.
That comment drove Ben to want to find solutions to change the business model they were making a living on. He didn’t want his brother who had mastered the art of the trade to not be able to utilise his skills fully.
The world of Disney and others
Through support from customers and clients, Ben decided to reach out to big media companies like Disney and Warner Brothers for licensing opportunities.
Disney owns Marvel Entertainment which produces comic characters like Spider-Man, Captain America, Iron Man, and Wolverine, while Warner Brothers owns DC Comics which has comic characters like Batman, Superman, and Wonder Woman.
Due to the business being small and somewhat unknown then, they faced multiple rejections by the big firms. Only in 2013 did they finally receive a callback from Disney.
The brothers negotiated with Disney to pay for the licence fee in instalments and raised S$50,000 in capital from friends and family.
The funding for the initial prototypes and designs was also supported by customers and clients.
XM Studios was launched in 2012 together with their oldest brother Clair and two business partners. But the road ahead still had obstacles.
In 2014, during the company’s first showing at the annual Comic Con convention, people commented that the business would not survive as they were “unknown” and how dare they sell figurines at S$800 apiece.
The prices of XM Studios’ figurines were double the industry standard then.
However Ben pressed on in his views and the company got its big break when it launched its Magneto collectible in the same year.
Within a day of its launch, all 800 pieces of the model were sold.
The intricate detailing and beauty of the piece attracted the interest of other companies and franchises.
The newcomer soon started gaining recognition, winning awards, and getting offers from franchises to license with them.
Luxury premium designs
Today, XM Studios has more than 10 main licences, including for Batman, Justice League, Star Wars, Mickey & Friends, and fantasy game Dungeons & Dragons.
It’s also producing collectibles of iconic Japanese characters like Godzilla, Ultraman, and Sanrio.
XM Studios has since grown to 50 staff with its headquarters in Singapore and operations in China.
It now has a presence in 35 markets worldwide and is said to have sold almost 20,000 figurines last year.
The US and Europe, China, and South-east Asia markets all take up 30 per cent of XM Studios’ revenue each.
The firm has plans to open experiential concept stores showcasing its figurines, in countries all over the globe in the next few years.
Covid-19 impact
However, the Covid-19 outbreak may put a spanner in the works for its upcoming retail expansion plans.
Comic conventions, for example, were cancelled around the world and that was an important marketing channel for XM Studios.
To circumvent the impact caused by Covid-19, the company had adapted quickly to grow its online presence by continuously engaging with its community through social media channels like Instagram, Twitter, and Weibo.
As the pandemic shows no signs of abating, the firm is said to be also venturing into producing podcasts to reach out to more customers.
Latest fundraise to help enter mass-market toy industry
Earlier this month, the startup raised S$4.5 million through an offering of tokens on investment platform ADDX, a digital securities platform.
The digital tokens or exchangeable notes raised will be used by XM Studios to expand its premium mass collectible business in new markets.
With this “premium mass market” in mind, XM Studios is in talks with its partners to come up with products at a more affordable price range of S$200 to S$300.
The funds will also support the buying of new intellectual property licences and be used for general working capital.
The deal was anchored by Heliconia, a Temasek-linked investment firm, with a S$1 million investment. The rest of the offering, which was subscribed 1.75 times, was picked up by ADDX accredited investors.
Ben said that the fundraising on ADDX was designed to allow fractional access at a minimum investment of just S$10,000 because “we wanted to provide long-time XM Studios fans with the chance to take part in the growth of the company”.
XM Studios is set to open its first experiential concept store and office at Kitchener Complex in November. The site will span a floor area of 19,000 sqft.
The company has also been turning its attention to women-centric collectibles, following the stronger play on female characters like Wonder Woman and Elsa from Frozen. Currently, the majority – about 95 per cent – of its customers are male.
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Featured Image Credit: XM Studios, ADDX
Also Read: S’pore collectibles maker XM Studios raises S$4.5M in deal anchored by Temasek’s Heliconia
Key it any way you want: A look at the growing trend of mechanical, custom keyboards in S’pore
Like a 90s trend that makes a comeback every few years, mechanical keyboards are back now and bigger than ever.
Gone are the days where the silent flutter of butterfly keyboards are appreciated. Now, the tactile click or ‘thoc’ (more on this later) of mechanical keyboards are preferred.
These mechanical keyboards also come in trendy colours and are open to customisation, making them all the more attractive.
Before we get into the specifics of mechanical keyboards, it would perhaps be prudent to firstly explain what mechanical keyboards are.
In a room of keyboard enthusiasts, it might be blasphemous to proclaim that there are only two types of keyboards. But for simplicity’s sake, let’s narrow it down to two of the most common types, namely mechanical keyboards and membrane keyboards.
Mechanical keyboards vs membrane keyboards
In mechanical keyboards, each key is individually spring-loaded and produces a distinct ‘clicking’ sound when pressed. Or, as those in the mechanical keyboard circles would say, that trademark ‘thoc’ — an ASMR-pleasing click.
Membrane keyboards however, are slightly different. These keys send an electrical signal to a unified circuit board underneath, as opposed to each key individually firing off like a mechanical keyboard.
These membrane keyboards have a ‘mushier’ feel and tend to be much quieter. Even though they have been developed long after mechanical keyboards, they are used in most laptops and external keyboards.
The resurgence of mechanical keyboards
If you are a writer or spend a lot of time slamming down keys, you’ll probably have stumbled upon ways to make your experience a little more ergonomic.
As residents on the internet, all roads lead to Reddit. If you’ve been looking at better keyboards or mechanical keyboards, then you might have stumbled upon the subreddit r/mechanicalkeyboards.
With close to a million members (currently 953,000), the mechanical keyboard community is stronger and nerdier than ever. You’ll fall down a rabbit hole of custom keycaps, stabilisers, types of switches, and customised boards that will make you go, “Oh my god, I want that”.
Of course, this revival of mechanical keyboards is partly because of the pandemic and the default work from home (WFH) situation.
“Working from home has allowed people to spend more time with their equipment. With the keyboard being one of the main interfaces to their PCs, it’s only natural that people are looking for ways to improve or switch things up,” said Eugene Lim, head of marketing at Dreamcore Custom PCs.
“TikTok and Twitch.tv have made it super easy for users to find inspiration for clean and gorgeous desk setups,” he added.
Twitch streamer Richard Gozali, or Fatboychard on Twitch, agrees with this sentiment. Such platforms have definitely made the barrier of entry to mechanical keyboards easy and accessible.
The amount of time spent in front of the computer — be it for work, entertainment or relaxation — has only increased in the past few years. I find that most of us stumbled into the hobby while searching for the best keyboard for our desk setup. The number of things you can customise on a mechanical keyboard is endless.
Let’s (also) not discount the countless keyboard ASMR videos that have popped up online throughout the past few years.
– Richard Gozali of Fatboychard
Indeed, one of the most alluring qualities of mechanical keyboards is the tactile pushback and ‘thocky’ quality that mechanical keyboards have.
‘Thoc’ or ‘thocky’ is an onomatopoeic word that encapsulates the glorious, ear-tickling quality that a board will have when you tap down on a key. Of course, this is one preference for keyboard enthusiasts. For those that prefer linear or tactile switches, clicky might not be the effect you are going for.
For the most part, you don’t want your keyboard to sound scratchy, pingy, or rattly.
The colourful (and expensive) world of customisable keyboards
Besides the ‘thocs’ and aesthetic colours that mechanical keyboards come in, the other pull of mechanical keyboards is how highly customisable they are.
“The ability to choose from a wide variety of mechanical switches to fit your preference, coupled with the increased durability associated with individual mechanical switches all contribute to a preference for mechanical keyboards,” explained Eugene.
Under each keycap, there is a spring-loaded switch that you can change and customise depending on what kind of typing experience you are going for.
Cherry switches are the gold standard of switches and a great place to start for beginners.
There are broadly three kinds of switches: Cherry MX Brown, Cherry MX Blue, and Cherry MX Red; and they differ in linear, tactile, or clicky switches.
As you continue to explore the realm of different switches, you’ll realise that they run the gamut. There is much to explore, from the gamer-preferred Gateron to more affordable Kailh to the rare Hirose Orange.
“Membrane keyboards all feel the same – it’s boring”, opined Eugene. Moreover, with a low barrier of entry, it’s a hobby that’s less intimidating than, let’s say, wakeboarding or trading crypto.
There is an increasing number of keyboard options for newcomers, particularly hot-swap keyboards, where you can swap out switches easily without having to solder.
With a community that is supportive and excited to share, you’ll find that it is a relatively easy hobby to pick up. Just keep in mind that a lot of aspects of this hobby is based on your preference.
– Richard Gozali of FatboyChard
Then, there are the keycaps. The vast and magical world of keycaps leaves you a little ga-ga when you scroll through the options.
From pastel-coloured keycaps to resin-filled keycaps with mini Godzillas to ones with fidget spinners, the possibilities are endless. Not to mention, it’s one of the easiest and most fun to customise.
As you get more in tune with customising your keyboard, you’ll realise that every single part of the keyboard can be made from scratch.
From the printed circuit board (PCBs, as they are called) that you solder to deciding whether you want a sleek aluminium exterior or a colourful pastel one or cool RGB underlighting that you can program, it’s a keyboard that is wholly yours to make.
Essentially, when it comes to building custom keyboards, it’s more about the sum of their parts. Given all these separate components, building your custom mechanical keyboards is expensive but, the result is definitely worthwhile.
Typing for the long run
Despite our penchant for convenience, it seems like the mechanical keyboard scene in Singapore is thriving and here to stay.
The custom keyboard scene here in Singapore is growing really quickly. Local vendors have also played a big part in opening up the hobby, making it much more accessible for newcomers. (In fact), our local Mechanical Keyboard discord has just reached 5,000 members.
– Richard Gozali of FatboyChard
Meanwhile, Eugene of Dreamcore describes the mechanical keyboard scene as alive, vibrant, and exciting.
“Almost everyone has a request that’s a little different from someone else’s. That means a different challenge daily, but where’s the fun in certainty, am I right?” he quipped.
The good news is as the hobby continues to grow, we might see the prices of these mechanical keyboards drop, which is excellent news for our wallets.
“This makes mechanical keyboards more accessible than ever. But if you have the cash you are willing to part with, not to worry — there will certainly be more premium keyboards to get your hands on.”
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Featured Image Credit: DROP.com
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Colony’s team does a 180 from luxury to no-frills, opens new coworking space for RM10/day
Picture this: the Malaysian government has just announced a nationwide lockdown, delegating people to the WFH life. Travel and public gatherings are largely restricted. People are hunkering down and being conservative with their remaining resources.
Meanwhile, Timothy Tiah (Tim), co-founder and Executive Director of luxury coworking space Colony, is working behind the scenes to launch a new, more affordable coworking brand called Jerry.
Of course, it wasn’t the best time to do so, but it was a plan that had already been set in motion, and Tim was committed to seeing it through. But why start another brand when you’ve already got a popular one that’s lauded for its services and facilities under your belt?
Bells and whistles don’t matter
After years of running Colony and studying various coworking space models, Tim had come to realise several things.
For one, while business owners and entrepreneurs liked the idea of flexible office spaces and prices, they weren’t willing to pay the premium Colony charged.
Instead of community, which is one benefit of coworking spaces that got devalued during the pandemic, they also cared more about having a great location, fast internet, and a comfortable office.
Thus, he wanted to have a stripped-down version of the traditional coworking model in order to offer cheaper rates, but without sacrificing quality.
At the same time, he wanted to build a model that would be profitable. So, the team took their experience and lessons learnt via Colony and got to work building Jerry.
Trimming the unnecessary
Tim shared, “A good example was inventory holding cost. When coworking spaces are, say, 70% occupied, they’re still paying for that 30% of space that they have.”
“If they could eliminate the inventory holding cost of that 30%, their margins would improve and they could further reduce their prices. They can do this by having small floor plates instead of the big ones we’re used to.”
And so, they did just that for Jerry, opting for 6,000 square feet spaces instead of the usual 20,000-35,000 square feet spaces that a Colony branch would occupy.
That was a major part of their savings, but some other things they did include automating tours of the space and making it modular.
Usually, people would tour a coworking space before making a commitment, which means having a team on the ground to serve them. But it wouldn’t always lead to closed sales, amounting to lost time and costs. Therefore, adopting a hotel-style booking process just made sense.
“Jerry has no sales team … We provide a virtual tour on our website and if you insist on touring it, you would have to buy a RM10 day pass, which helps us filter out the non-serious prospects,” Tim explained.
On Jerry’s site, you can view the space through pictures, explore its layout, and make an immediate booking. If it’s not to your liking, you can move out the next day.
A typical coworking space usually also has offices of varying sizes for large teams, but Jerry instead offers modular 1, 2, and 4-person private rooms like a hotel too. Contrary to popular solo coworking space plans, Jerry offers no hot desks either.
If a larger team wants to work together, they can just book multiple rooms instead of subscribing to a membership for larger and pricier offices.
“Our bet was that if we made the office rental cheap enough and flexible enough that they can cancel anytime if they didn’t like it… then they would book online. We only opened a few days ago and it’s working! People are actually renting offices even for a year without having to tour them. That’s probably a first for the office rental industry.”
Timothy Tiah, co-founder of Jerry
Going head-to-head
Jerry currently has one outlet in TTDI and another in Subang Jaya, both of which cost approximately RM800K each to build, funded by Colony’s cash reserves. It’s no small cost, but Tim believes that it will get cheaper over time as they scale up their outlets.
“We’re fortunate to be sitting on a comfortable net cash position during this pandemic so we’re able to expand. At the same time though we’re cautious not to take it for granted which is why we’ve cut our loss-making location Colony @ KL Sentral.”
If you Googled “coworking space” in those two locations, you’d see that there are quite a few other choices from known brands. Why then did Jerry join the crowd?
Tim simply replied, “Our plan is to go into locations with a lot of existing coworking spaces so we know that the model there is proven to a certain extent. We then look to offer a cheaper alternative to what already exists in the location.”
Using TTDI for example, you’d find other coworking spaces like WORQ, Common Ground, and se|tempat there. For monthly membership plans if you’re working solo, here are the prices you’d pay without promos:
Coworking space (TTDI) | Type | Price per month (RM) |
Jerry | 1 pax private office | 299 |
WORQ | 1 pax hot desk | 400 |
se|tempat | 1 pax hot desk | 350 |
Common Ground | 1 pax hot desk | 699 |
It goes without saying that for team offices, you’d be paying a lot more, yet Jerry would charge you only RM1,196 for a 4 pax room. For comparison, Colony’s private offices start at RM2,390/month. Granted, each of these coworking spaces offers different amenities and complimentary services, with Jerry’s being the most stripped-down offering yet.
Do note though that while the prices quoted for Jerry’s rooms are accurate at the time of writing, Tim explained that the pricing for Jerry is dynamic, so it will increase as its occupancy goes up, and down when it comes down. “Just like how airlines work,” he summarised.
Editor’s Update: The above paragraph has been added to clarify Jerry’s pricing plans better.
A biz that may challenge his own
The MCO had made it difficult for Jerry to launch in June 2021 as planned, so Jerry TTDI was launched just a week ago. Meanwhile, the Subang Jaya branch is slated to open by December.
It’s still too early for Tim to say anything definitive about Jerry’s performance, but he shared that the progress they’ve made has exceeded their expectations.
By mid-2022, the team hopes that both Jerry locations will be profitable on a monthly basis, and that the team will be looking to open more by then.
“I don’t know if that’s conservative or optimistic because it really depends on when our economy opens up again and whether there will be any future MCOs,” Tim said.
However, he remains optimistic about Jerry’s future, believing that it even has the potential to cannibalise Colony despite the latter being a completely different offering.
“More high-end and experience-focused,” he described of Colony, adding, “But I’d rather Jerry cannibalise Colony than someone else.”
Also Read: 9 facts about personal loans in M’sia you should know to borrow responsibly in a pandemic
Featured Image Credit: Timothy Tiah, co-founder of Colony and Jerry
StarHub to acquire 50.1% stake in MyRepublic’s broadband business for initial sum of S$70.8M
Singapore telco company StarHub announced today (September 22) that its wholly-owned subsidiary, StarHub Online, will acquire a majority interest in new entity MyRepublic Broadband.
MyRepublic Broadband holds MyRepublic’s broadband business in Singapore, providing services for residential and enterprise customers.
StarHub’s total investment will be up to S$162.8 million, with an initial consideration of S$70.8 million for 50.1 per cent shares of MyRepublic broadband and a deferred consideration of up to S$92 million, should future financial performance matrices are met. These will be funded using StarHub’s internal cash resources.
MyRepublic will retain the remaining 49.9 per cent and its senior management team, helmed by co-founder and CEO Malcolm Rodrigues.
In addition to equity, StarHub has agreed to refinance S$74.2 million of debt for MyRepublic for a period of three years, on completion of the transaction.
Upon completion of the acquisition, MyRepublic Broadband will be a StarHub subsidiary. The transaction is expected to close by December 2021, subject to the fulfilment of mutually agreed conditions and regulatory approvals.
Notable milestone ahead of potential IPO
MyRepublic Broadband is a profitable and growing business, which currently holds six per cent share of Singapore’s broadband market.
The proposed transaction will consolidate and strengthen StarHub’s position in the Singapore broadband market, expanding its market presence to 40 per cent and steering long-term business growth.
In the future, MyRepublic’s broadband customer base will stand to gain access to enhanced offerings from StarHub’s Consumer and Enterprise Business Groups, including the growing suite of products and services offering connectivity, over-the-top content, cloud gaming and other experiences.
The partnership would also create mutually beneficial opportunities through scale and synergies – in terms of joint go-to-market opportunities, future wholesale offerings, and cost savings.
“We are delighted to partner MyRepublic to step up innovation and bring more value to more customers in Singapore. COVID-19 has shown just how important quality broadband services are to our society, and we intend to scale up and deliver better and faster services to our customers, while realising high-quality earnings accretion,” said Nikhil Eapen, Chief Executive Officer of StarHub.
Malcolm Rodrigues, CEO of MyRepublic, added, “StarHub’s investment and partnership with us validate the vision of digital transformation we set out to bring to the industry, in Singapore and beyond. Everything consumers and enterprises love about MyRepublic is about to get even bigger and better through the commercial and operational synergies from this partnership.”
“More importantly, this milestone propels us forward in MyRepublic’s journey towards IPO. With StarHub onboard as a key investor, we are charting a new course for the long-term direction of the industry.”
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Amidst COVID-19, M’sia ranks 3rd most innovative upper middle-income economy in the world
Global Innovation Index, published annually by World Intellectual Property Organization, has just been released for the 14th time—this year, tracking innovation during the COVID-19 pandemic.
Worldwide standings are led, yet again, by Switzerland, Sweden, and the USA.
In Asia, South Korea edged out Singapore for the top spot, ahead of China in third. China, which is also leading the upper middle-income category globally, is ahead of Bulgaria and… Malaysia.
Yes, in the second income tier—behind high-income countries—Malaysia remains one of the most innovative economies, not only in Asia but worldwide.
Globally, it places the country in 36th place—beating several EU countries (like Poland, Slovakia, or Croatia), following closely behind the likes of UAE, Portugal, Spain, or Italy, and not far behind Australia or New Zealand.
But as the ranking consists of many different factors, Malaysia’s performance in several areas is, actually, among the best in the world. Let’s take a look at a more detailed breakdown.
A look at Malaysia’s strengths
1. Education – dominance of science and engineering subjects among graduates
While the country scores quite average on education overall, its highlight is tertiary enrolment in science and engineering subjects, which places it among the best in the world.
In other words, while the overall number of students is not the highest, they tend to pick practical, technical, and scientific subjects—in this regard, beating out neighbouring Singapore, or even the likes of Korea or Japan.
If we add to it the fact that many Malaysians study in top-tier universities abroad—chiefly in the UK, US or Australia—and English is really the lingua franca of the urban population, it creates a very fertile ground for IT startups and even manufacturing companies.
In many ways Malaysia is an ideal compromise, offering relatively low employment costs and a well-educated workforce, located at trade crossroads between East and West.
Speaking of trade…
2. Trade and industry – well-developed industrial clusters and one of the highest shares of high-tech goods in total trade, globally
High-tech export and imports dominate Malaysian trade with the world—this isn’t surprising considering a relatively high presence of internally complementary industrial clusters.
After all, the country has been a target of investment in IT, engineering, and manufacturing for many years now. This is certainly aided by its location and proximity to the world’s busiest trade routes, as well as a shared border with Singapore, which is one of the pre-eminent global business hubs where international MNCs place their regional offices.
Malaysia is also standing out in terms of global brand value—i.e. the value of its best companies among the Top 5,000 brands in the world, in relation to GDP (corrected by purchasing power parity).
In other words, Malaysian companies are globally strong for their size and the size of the domestic economy.
They are also among the most influenced by ICT (Information and Communications Technologies), quickly adopting novel digital solutions in business.
Image Credit: Global Innovation Index 2021, WIPO
Finally, and perhaps a bit surprisingly, Malaysia is also ranking among the world’s best for the share creative goods have in its national exports.
This is a category of products that are bought for their intrinsic value (like art or fashion), or involve a high degree of intellectual creativity (like software, music, gaming, or other digital goods). *Note: Specific breakdown is not provided, so it’s hard to say what goods are specifically included in this entry.
Stopping the brain drain
Having worked in Malaysia in one of the companies participating in the global digital economy, and witnessing the rapid growth of the domestic IT scene in the past decade, I have to admit that the country is one of the best positioned to attract foreign investment in innovation in quantities far greater than it does today.
Malaysia boasts good engineers and excellent foreign-educated professionals (who are as good as they get anywhere in the world).
Local labour costs are still fairly low, infrastructure is good and getting even better, and the business environment is welcoming (the country ranks a very high 12th in World Bank’s Ease of Doing Business ranking). Widespread proficiency in English and proximity to trade routes—both by air and sea—complete the mix.
But there’s one problem: domestic brain drain that drives many of the brightest people to seek careers abroad.
There are various political, social, and historic reasons for the phenomenon that I’m not going to delve into here, but it’s clear that the outflow of talent is costing the country untold billions in lost economic growth and investment.
If this gap is closed, Malaysia can very well accelerate its progress into a high-income category and surge even higher in the innovation rankings in the years to come.
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Featured Image Credit: James Teo Hart via Depositphotos