Otah to tarts: These S’poreans sold 1,000 food plushies in 2 weeks – now make toys for pets
Janus Ong, Ami Lu and Cindy Wu have been friends since their university days.
They may be trained in different fields — particularly accounting and social services — but one thing’s for sure: they share a common love for food.
Upon graduation, Ami and Janus forayed into entrepreneurship. In particular, Janus founded companies in technology and F&B industries.
Although they each had their own thing going for them, the three decided to come together to create a larger-than-life version of food, which propelled them to start up Nom Nom Plush.
“What was a passionate project turned into a business opportunity,” expressed Janus.
Sold 1,000 food plushies in two weeks
It all started when the team was having a random conversation about noticing cushions of common international food being produced. It was then that they decided to produce cushions that signify their culture.
Founded in 2016, Nom Nom Plush started as a passion project when the team wanted to turn nostalgic local food into fun food cushions. The primary goal for Nom Nom Plush is to touch hearts with the memory that each food evokes.
During the Chinese New Year celebration in 2017, the team launched its first product known as the Pineapple Tart Plush. That year, the nation celebrated its 50th anniversary of independence where the nostalgic spirit was high and most people were raving about local-themed items.
“All we wanted was to have fun back then and we were surprised when we sold all 1,000 units within the first two weeks of launch,” recalled Cindy.
Over the years, the trio experimented with various products including stationery and lifestyle items. However, the trio learnt that they had strayed away from their original vision of creating food cushions and chose to go back to basics.
“Along the way, we learnt the importance of focus and clarity in vision,” explained Cindy.
Expanding their plush toy business to cater to pets
Spurred by the success of Nom Nom Plush, the trio went on to launch a sister brand called Furball Collective.
It was founded in 2020 when the team realised that their customers used their cushions and key chains as toys for their pets.
Over time, the team received requests to produce cushions that can be made into chew toys for their pets.
“We decided to experiment with this new product and gained so much traction and love from the pet community since our inception,” shared Cindy.
The vision of the brand was to create nose work toys for pets as there are so many unexplored terrains in the pet toy domain.
They started out by creating chew toys from their existing Nom Nom Plush designs, but have since ventured beyond as part of their creative endeavours.
“While our vision for this brand has not changed, what has evolved is our strengthened confidence,” said Cindy.
She also expressed that the brand’s story promises nostalgia with a touch of playfulness. Hence their tagline, “Zero Calorie, 100% Goodness”.
In January 2021, the team launched their six-piece Curry Fish Head pet bed set. The set comprises of a bed with attached nose work toys, and it became one of their bestsellers during the Christmas season in 2021.
That same year in December, the team launched their Round-the-World Collection that features international food cushions. They have three designs at the moment – Bolo Bun, Egg Tart and Dumpling.
Having soft-launched another product in December 2021, the hotpot nose work toy will be this year’s Chinese New Year blockbuster.
“The reception has been awesome so far and we’ve received international queries from pet owners in Canada, USA and Indonesia since.”
Both brands — Nom Nom Plush and Furball Collective — will be crossing their 100,000 units sold mark in 2022.
How they created the local food-themed plushies
Nom Nom Plush and Furball Collective plushies are all designed by the team and usually conceptualised after a few iterations.
As part of their product quality control process, the team would survey the market for interesting food concepts which are widely recognisable among society.
They have to ensure a good balance between realism, cuteness and recognisability in their plushies.
Janus is the one in charge of design planning — he would come up with a design concept once surveying of the market for food concepts is completed.
The process of design planning includes purchasing various versions of a particular food that they are going to prototype, creating videos of these food, providing the manufacturers with 3D artwork, creating samples, and reaching out to potential users for feedback and comments.
To put things in perspective, pineapple tarts are made differently by different bakers, love letters come in various forms, and ice cream has several flavours.
With these varying elements, the team makes it a point to decide which designs would be huggable, yet aesthetically pleasing, for its customers.
“The entire process from conceptualisation to market launch can take between six to eight months as we hold high standards to ensure fun without compromising on quality and usability,” said Janus.
Before sending the products for mass production, a final prototype would be created in order to make a final assessment with the team and potential users.
“It is important to us that the design is aesthetically pleasing, yet of good quality,” said Cindy.
However, having to constantly innovate and meet market demands is not easy. The going gets harder when they come cross brands that have plagiarised their product designs.
“It is disheartening, but it does not make us falter and what cannot be replicated is the brand story that we have carved over the years,” said Janus.
Additionally, Nom Nom Plush faces the challenge of retail partners with business practices that turned rouge, leading to several issues such as lost stocks without compensation and the failure to pay the brand for goods sold.
They have sold more than 20,000 plushies
As mentioned earlier, Nom Nom Plush launched with great fanfare — 1,000 plushies were sold out within the first two weeks of their launch, which served as a great morale booster.
To date, the brand has sold more than 20,000 plushies, excluding its keychains and pet products.
Above all, it considers its biggest success to be the pioneer in the market of local food-inspired plushies. “We are the first brand to do so in Singapore and it has been pretty amazing so far,” said Janus.
Meanwhile, Furball Collective has inked partnerships with notable companies such as Hotel Intercontinental on their Paw-cation Package in 2020 and 2021, in which they supplied toys in the hotel’s welcome basket for guests.
Additionally, the brand has nurtured a community of pet owners and is grateful for their fans and customers.
“While they say we have inspired them to appreciate heritage, we want to give them a shoutout and say they have inspired us to make more creative toys for their beloved pets,” said Cindy.
Moving forward, the team intends to focus on Furball Collective as it looks to launch a series of fun plushies. It also hopes to expand both its brands internationally in 2022 to countries such as Malaysia, Indonesia, Australia and the United States.
Shop Nom Nom Plush and Furball Collective on VP Label now and get $20 off (min spend $80) when you checkout with Pace using the code PACEVP20:
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Featured Image Credit: Nom Nom Plush
Also Read: How this S’porean mother-daughter duo raked in six-figure sales selling just bath bombs
Razer backpedals on N95-grade filter claims for its Zephyr mask after YouTuber’s exposé
Homegrown gaming company Razer has since removed all claims of its Zephyr mask filter being N95-grade after YouTuber Naomi ‘SexyCyborg’ Wu revealed that the claims were false.
On 1 November 2021, the YouTuber published a video of her tearing down the mask, calling out the company’s Zephyr mask, which she described as a “fraudulent product”.
Since these allegations surfaced, Razer has recalled its marketing material that carries claims of the Zephyr mask filter being of N95-grade.
Aside from removing most videos about the Zephyr masks from its YouTube page, Razer also added an additional disclaimer to its website, distancing itself from previous claims.
However, Naomi has called out Razer for this move on Twitter, claiming that their action is too late as media outlets, individuals and healthcare workers have touted the mask as one that is N95-grade online.
What does Razer have to say?
When asked for comments, a Razer spokesperson said the filters in the Zephyr mask have been tested for “95 per cent Particulate Filtration Efficiency and 99 per cent Bacterial Filtration Efficiency (BFE)”.
However, they emphasised that “the wearable by itself is not a medical device nor certified as an N95 mask”.
“To avoid any confusion, we are in the process of removing all references to “N95 Grade Filter” from our marketing material,” they added.
The company said that it will directly reach out to existing customers to clarify on this. Customers with any further questions about the Razer Zephyr mask are urged to contact its customer service.
Razer recently announced on January 6 the launch of the Zephyr Pro masks, and opened a pop-up RazerStore at Funan mall on January 11.
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Featured Image Credit: Razer
Also Read: A look at Razer’s fintech, crypto, greentech ambitions: “We think big, start small, act fast”
Bitcoin as the new-age cash: Should S’pore accept cryptocurrency as a major payment method?
El Salvador made headlines in September 2021 as the first country in the world to accept Bitcoin as its official legal tender, which marked a major milestone in the cryptocurrency world.
In contrast, nine countries — Algeria, Bangladesh, China, Egypt, Iraq, Morocco, Nepal, Qatar and Tunisia — have placed an “absolute ban” on crypto as of November 2021.
While buying and selling cryptos are becoming increasingly mainstream around the world, the opportunities to spend these digital assets are somewhat limited in comparison due to its volatility.
Other various factors such as environmental concerns and transaction fees have also hampered crypto’s adoption as a major form of payment.
There are however, a growing number of companies across different industries that have embraced cryptocurrencies, allowing customers to use them as an official method of payment for their goods and services.
More companies are accepting crypto as a payment method
Riding high on the increasing acceptance of Bitcoin and other virtual currencies, many businesses have started offering payment-related services that send and receive crypto payments.
In the United States, more than 2,300 merchants have accepted Bitcoin as a payment method.
Lush was one of the first global companies to adopt cryptocurrencies, fully embracing them in 2017 when the handmade cosmetics company started to allow Bitcoin payments for orders on its website through a partnership with Bitpay.com.
In September 2021, Twitter accepted Bitcoin as a form of payment. The addition of Bitcoin on Twitter is a major move into cryptocurrency for the social platform, though perhaps not a surprising one as Twitter CEO Jack Dorsey is a vocal proponent of crypto.
In November 2021, Mastercard said it would allow partners on its network to enable their consumers to buy, sell and hold cryptocurrency using a digital wallet, as well as reward them with digital currencies under their loyalty programmes.
The move would allow customers to earn and spend rewards in cryptocurrency rather than loyalty points.
The credit card giant will be pairing up with Bakkt Holdings Inc, the digital assets platform founded in 2018 by NYSE-owner Intercontinental Exchange, to offer the new crypto services to its customers.
In Singapore, many companies have also jumped on the crypto bandwagon. According to Statista, about 51 businesses listed as accepting cryptocurrencies for payment in Singapore.
Local food court operator Kopitiam, for one, accepts cryptocurrencies like Bitcoin and Ethereum at its outlet in Funan mall.
Kopitiam converts the cryptocurrencies to fiat on a weekly basis with the help of its fintech partner. It also bears the risk of currency fluctuations. Stallholders at the food court will then receive their earnings in Singapore dollars.
Kopitiam CEO Alden Tan said that adopting cryptocurrencies opens up new vistas of opportunities both in payment options and additional customers.
Other stores which accept cryptocurrency payments in Singapore include Epic Gear, Oyster Bar and Artistry, among others.
There’s an increased appetite for crypto payments in S’pore
According to the latest Worldpay from FIS’ Generation Pay research, 37 per cent of Singaporeans were found to be paying or interested in paying for purchases with cryptocurrencies,
Meanwhile, Gen Y (58 per cent) is the most open and boomers (16 per cent) are the least open to crypto payments.
The research explores the spending habits, purchasing experiences, and payment preferences across different generations, from Gen Z to baby boomers.
While it may still be a long way to go for cryptocurrencies to become a mainstream mode of payment, the high adoption rate proves that more people are beginning to understand how crypto payments work.
On the whole, findings showed that 23 per cent of respondents prefer central bank digital currencies (CBDCs) over cryptocurrencies (11 per cent) when it comes to using digital currencies as a form of payment.
Another 22 per cent indicated they have no preference and are willing to use both to pay.
For those who prefer to use cryptocurrencies, the primary reason is that it is decentralised and gives them more autonomy with their money (67 per cent). This is a particularly compelling reason for majority of Gen Y.
On the other hand, the main reason cited by those who prefer to use CBDCs is that it would be more secure being backed by the government (64 per cent).
Other reasons turning them away from cryptocurrencies include their perception that crypto wallets are more vulnerable (31 per cent) and that cryptocurrencies might be used in illegal activities (30 per cent).
Advantages of Bitcoin payment services
Compared to a standard credit card payment, bitcoin payments purport to be relatively cheaper due to lower transaction costs.
A payment service, like BitPay, charges a flat one per cent settlement fee to the merchant, compared to two per cent or three per cent, charged by the fiat currency credit card processing service.
Secondly, it offers better payment security. Cryptocurrency is considered more secure than credit and debit card payments because they do not need third-party verification.
When a customer pays with cryptocurrency, their data isn’t stored in a centralised hub where data breaches commonly occur. Rather, their information is stored in their crypto wallet. Plus, the blockchain general ledger is used to verify and record every transaction, making it very difficult, if not impossible, to steal someone’s identity.
Moreover, transactions are irreversible. Once a cryptocurrency payment goes through, it is permanent (transactions can be refunded only by the party receiving the funds).
This irreversibility helps business owners better manage their cashflow — there are no chargebacks to worry about, and if someone requires a refund, the retailer has to manually pay them back. This forces the company to keep immaculate records.
Bitcoin payment services also allow a borderless payment network, which enables seamless transfer of bitcoins in any amount from anywhere across the globe, through any mobile or computer, to the merchant’s account in a large number of countries in a currency of merchant’s choice.
Bitcoin payment services claim to maintain transparency in the highly dynamic exchange rates between bitcoin and the fiat currency.
Using such services, a merchant not only gets various mediums to accept global payments, but they also get a reliable and authentic identity in the virtual world of cryptocurrencies, which is much safer, transparent, and dependable for getting payments.
Imagine being asked to make a direct payment to an individual bitcoin wallet, versus seeing the payment being processed through the network of an established payment service provider – a customer would find the latter more trustworthy to proceed with. That is the value-add a business gets from such services.
But Bitcoin as a transactional currency is still very risky
Bitcoin, however, has several characteristics that make it unsuitable for use as a transactional currency.
Cryptocurrency is extremely sensitive to news headlines. For example, after Google announced plans to ban cryptocurrency advertising, the overall value crashed by US$60 billion.
Separately, the price of bitcoin hit a three-week high in June last year, climbing back above US$40,000 after Elon Musk said that Tesla would resume allowing transactions made in the digital currency once crypto mining becomes greener.
The volatility of Bitcoin suggests that both consumers and merchants bear exchange-rate risk, which arises from the need to change fiat currency to Bitcoin.
For instance, in 2010, we saw the first ever commercial transaction using Bitcoin to purchase a pair of pizzas for 10,000 Bitcoins – what is said to equate to about US$40 then would cost almost US$400 million today.
The inefficiency of blockchain with transactions taking hours, even days, to be confirmed, and the use of proof of work in Bitcoin mining also results in excessive electricity use, leading to sustainability issues.
As such, it is unlikely that Bitcoin will see widespread adoption locally as a currency for transactions, although other forms of virtual currencies or stable coins with values pegged to certain fiat currencies may see wider adoption as a currency for transactions.
Furthermore, there are limited regulatory protections for the customers of cryptocurrencies, which mean that unlike e-money stored in an EZ-Link card or in a bank account, should the company become insolvent, the customers of cryptocurrencies may well lose the entire amount.
In this regard, the Monetary Authority of Singapore (MAS) has required cryptocurrency firms to make clear and appropriate disclosures to their customers, including merchants, so that all customers are aware of the risks.
Cryptocurrencies are not legal tender, nor are they securities. Instead, they are considered goods, just like collectors’ cards which people can buy from vending machines or shops. And as a good, they can be used as a medium of exchange.
The prices of cryptocurrencies can be highly volatile and are often speculative in nature. This is not surprising given that factually and scientifically, cryptocurrencies are nothing more than bytes of data sitting on computers in networks.
They are not pegged to any nation’s economy or economic fundamentals and their value cannot be objectively measured or ascertained. Their values are simply what people think they are worth, very much like collectible cards, and even fluctuating according to the tweets of billionaires like Musk.
Unfortunately, many wallets and other crypto products are also still too complex and not built for mainstream users.
As such, we’re a little further way from a true ‘aha’ moment of onboarding hundreds of millions of users who are not technically savvy.
Singapore is currently exploring a “digital Singapore dollar”
Singapore is among countries seen to have taken a friendlier approach towards crypto and digital assets as it seeks to reap the benefits of innovation while safeguarding against compliance risks.
It has announced that it aims to be a global crypto hub, which will enhance the reputation of not just the country, but also the broader financial service sector in Asia.
The MAS has shown a firm hand to those which do not meet its standards as well. It is among regulators that have shut the door on crypto exchange Binance, ordering its Binance.com site to stop providing payment services in Singapore.
Such regulations are primarily geared towards protection against money laundering and financing terrorism while maintaining a very crypto-friendly approach.
MAS managing director Ravi Menon had said in his speech at last year’s Singapore Fintech Festival that the authority is “carefully studying” the economic merits and implications of a retail centralised banking digital currency (CBDC) in the Singapore context.
He noted that a “digital Singapore dollar” could possibly foster an efficient and inclusive payment ecosystem which could make it easier for smaller firms to build new payments and related digital services.
He further described it as a digital version of cash, and added that “the case for a retail CBDC in Signapore is not urgent”.
Physical cash is not going anywhere, so the need for a digital Singapore dollar is “moot at this point,” he said.
Explaining further, he said that although a CBDC has benefits such as financial inclusion or expanding access to financial services, it’s “not compelling” in Singapore since a high proportion of Singaporeans have bank accounts, while electronic payments in the country are pervasive, highly efficient, and competitive.
Another reason for a digital Singapore dollar is to guard against the potential displacement of the local currency as privately issued stablecoins and foreign CBDCs enter the market and become widely accessible, Menon said. Stablecoins are digital assets that are pegged to traditional currencies.
That said, the central bank acknowledged that there are potential benefits, and will work with the private sector to develop technology and infrastructure needed to issue a Singapore dollar should the authorities decide to do so in future.
Crypto payments are still at the infancy stage
The cryptocurrency revolution has been gathering pace of late and looks set to shift into a new gear in Singapore after four firms were given the green light to provide digital payment token services.
This means it will soon be clearer to investors how they can trade in cryptocurrencies such as Bitcoin and Ether within regulatory guidelines and even pay for goods and services with such coins.
Louis Liu, founder and CEO of FOMO Pay — one of the companies that has been awarded the MAS license — noted that in other parts of the world, particularly in Japan and the US, more people have started to use digital tokens as a mode of payment.
He wanted to make sure that when these people come to Singapore, our merchants will be able to accept their mode of payment.
As one of the first Digital Payment Token (DPT) licensees to join the digital exchange, Fomo Pay will collaborate with DBS Digital Exchange (DDEx) to enable Singapore-based merchants to accept cryptocurrency payments from consumers.
The payment service will be similar to that for e-wallets or credit cards.
“For example, the merchant will key in the amount and Fomo Pay will convert it into the number of bitcoins, which will be sold in real time on our partner’s cryptocurrency platform. The merchant will receive the fiat currency, not bitcoins,” he explained.
He added that this process means merchants will not be subjected to the volatility in the value of cryptocurrency.
Generally, crypto payments are still in their infancy. However, they hold a great deal of potential for businesses to improve their services to customers.
Cryptocurrency payments also have the potential of creating a more borderless and globalised economy, as well as fighting financial inequality by bringing fast and secured financial services to people without access to a bank. This is a big win for everyone in online and offline payments.
What will it take for mass adoption to become a reality?
In recent years, cryptocurrency has become too big to ignore.
It certainly holds interesting potential and if successful, the market volatility of cryptocurrency will need to be drastically reduced and security will need to be improved.
After all, the transactional currency should be stable and efficient, of which both attributes are not associated with Bitcoin.
All in all, the growth of cryptocurrency is projected to be a long-term play, one that will require significant infrastructure investment to be ready for mass adoption.
Increased consumer awareness and a progressive regulatory framework will likely be crucial for cryptocurrency to become a bigger part of Singapore’s economy.
Research has pointed to institutional adoption as a turning point for widespread crypto adoption, and it would appear we’re quickly heading there.
Furthermore, the increased availability of points of sale that accept Bitcoin as a means of exchange and institutional investment in the space will likely lead to greater acceptance of Bitcoin as a method of payment in the future.
For now, we’re still very far from the reality in which crypto can be used to pay a restaurant bill. We’re simply not there yet, but it’s also not impossible for crypto to be used as a regular mode of payment.
Featured Image Credit: Shutterstock
Also Read: Is S’pore crypto-friendly? Here’s how MAS’ regulations could impact businesses and investors
S’pore startup RushOwl now lets users create “ride parties” for shared trips from S$7/pax
Local smart mobility startup RushOwl announced today (January 11) the launch of its new subscription-based ride-sharing feature.
Called PickMe!, the feature — which is part of their app RushTrail — allows users to create their own ride-sharing group or join others on the same ride to their destinations for as little as “S$7 per ride”.
The price of each ride using the PickMe! feature will depend on the frequency of the ride per week and the number of persons on board. Rides with higher frequency and more passengers on board will be cheaper.
“Everyone who has downloaded the RushTrail app is able to use our PickMe! feature, whether they are commuting to work, school, or even parents who are dropping their kids off at school before heading off to work themselves,” said Koh Man Ting, marketing executive of RushOwl.
In its press release, RushOwl said that the new feature will give passengers “guaranteed seats, timely pick-ups to minimise commute duration” and “fixed prices throughout their subscriptions”.
They also added that passengers can overcome price surges during peak hours and driver supply shortages, all while reducing their carbon footprint through the new feature.
You can create or join a “ride party”
Users can create their own ride-sharing group — dubbed “ride parties” — and modify its privacy setting. They can also classify the ride into work, school and women-only categories.
While there are no Covid-19 restrictions as PickMe! is similar to a public commute, passengers can opt for ‘Private Rides’ and share their ride among people they know, said RushOwl.
Once a ride party has reached the minimum of four passengers required, the host can launch the route. Hosts of each ride party can also set a priority location to arrive at a specific time.
Additionally, users can also join existing ride parties to reduce the cost per user per trip, and launch their desired routes faster. They can easily search for rides based on the categories and their frequency desired.
Moving forward, RushOwl plans to launch a specific PickMe! feature for schools on its platforms. This feature will be an addition to its existing services for 27 schools in Singapore as of 2022, making the journey to school more seamless for parents and their children.
Founded in 2018, the startup provides on-demand and region-to-region routes for passengers, partners with fleet owners, smart cities, and governments. It has worked with various smart city stakeholders like JTC, HDT (a subsidiary of electric bus maker, BYD China) and SMRT.
The startup recently raised S$650,000 in a seed funding round and announced plans to expand across the Asia Pacific region in December 2021.
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Featured Image Credit: RushOwl
Also Read: This 28-year-old’s mobility tech startup offers on-demand bus sharing for as low as S$2/trip
New year, new job: 22 well-known companies in M’sia hiring for skilled roles in 2022
For some Malaysians, a new year means looking for a new job for the possibility of better growth opportunities in their respective fields, or a career shift.
Whether you’re a student or a working professional who can relate to the above, we’ve compiled a non-exhaustive list of well-known companies in Malaysia that are hiring in 2022.
The jobs listed below consist of household names that are looking for skilled workers to perform office jobs, or more technical professions that require specific industry knowledge to execute.
1. AirAsia Digital
The newest member to Malaysia’s unicorn club, AirAsia Digital, is the digital venture arm of AirAsia Group.
Known for its low cost airline, it embarked on its journey in 2018 to offer more than just flights, with the inclusion of hotels, holidays, activities, and online shopping on the airasia superapp.
The company has its own integrated logistics, including last mile deliveries through Teleport, and digital financial service via its money app, BigPay.
Spurred on by the pandemic, the app branched out to also offer food and grocery delivery services, ride hailing, road tax and car insurance renewals, and more.
Some current job openings offered include:
- Senior Manager, Rewards
- Manager, Corporate & Treasury
- Senior Executive, Multimedia Artist
Check them out and get hired here.
2. Axiata Group
Parent company to brands Celcom and Boost e-wallet, Axiata Group entered the market as a telecommunications business in 1992. It is now on the move to become a fully digital company.
Through Celcom, Axiata Group announced in 2021 that it will be merging with another telco business, DiGi.
If the move succeeds, the merged companies intend to strengthen their foundations to offer high-quality broadband, improve 4G connectivity, and subsequently support the acceleration of 5G rollout.
As of November 2021, the merger application has been submitted to The Malaysian Communications and Multimedia Commission (MCMC).
Open positions listed are:
- Associate Account Director
- Enterprise Strategy & Business Performance
- Human Resource and Payroll Specialist
Check them out and get hired here.
3. Carsome
Crowned as Malaysia’s first unicorn, Carsome began in 2015 as a platform to discover and compare the best prices for different cars from various dealers.
It wasn’t long before the company pivoted to address the used car market, providing customers with a hassle-free experience in buying and selling preloved cars.
By 2020, Carsome launched its own flagship store for prospective buyers to test drive their used cars of interest. In 2021, it founded Carsome Academy, a training centre offering Malaysian youths technical education and guaranteed career opportunities.
The company is looking to hire:
- Vehicle Inspector / Technician
- Specialist, Payroll
- Senior Executive/Executive, HQ Operation (B2C)
Check them out and get hired here.
4. CIMB
Headquartered in KL, CIMB Group Holdings Berhad is also operational in Singapore, Thailand, the Philippines, Vietnam, and more ASEAN countries.
The bank offers services including consumer, commercial, investment, and Islamic banking along with asset management products and services.
Some open positions include:
- IT Project Manager
- Project Manager / Business Analyst
- Personal Financial Consultant
Check them out and get hired here.
5. Ernst & Young (EY)
Primarily known as EY, Ernst & Young Global Limited is considered as one of the Big Four accounting firms.
Operational in 150 countries, its Malaysian office provides services such as assurance, financial audit, consulting, law, strategy, along with tax and transactions to its clients.
Positions it’s looking to fill include:
- Operations Manager for Consulting, ASEAN
- Malaysia Markets Operations, Senior Associate
- Technology Consulting – Robotic Process Automation, Manager
Check them out and get hired here.
6. Fave
Fave is a fintech company with a lifestyle app helping its users discover deals and promotions on restaurant deals, spa and massage treatments, along with travel packages and activities.
Launched in 2015, Fave currently operates in 35 cities across Malaysia, Singapore, and Indonesia, and India.
The company is looking to hire:
- Data/Python Engineer
- Backend Engineer (Payments)
- Product Manager, Consumer
Check them out and get hired here.
7. Google
Google needs little introduction into what they do. Founded in the US, the tech company expanded its office to Malaysia in 2011.
At Google Malaysia, the team’s focus is in building an infrastructure to localise its services for Malaysian consumers. Such services include building and maintaining Google Cloud, along with advertising services on the web.
Some current job openings include:
- Senior Manager, Government Affairs and Public Policy
- Account Manager, Large Customer Sales
- Industry Manager, Media, Entertainment, Tech and Telco
Check them out and get hired here.
8. Grab
Founded by two Malaysians, Grab first launched as a ride-hailing service under the MyTeksi app. It has since expanded into other services to serve under its super app, offering services like digital payments via GrabPay, along with food, grocery, and package deliveries.
Shortly after going public on Nasdaq in December 2021, Grab announced that it entered a share purchase agreement (SPA) with the current shareholders of Jaya Grocer. This move is intended to be an acquisition of the local grocery store.
To date, Grab is operational in 8 countries including Singapore, Malaysia, Cambodia, Indonesia, Myanmar, Philippines, Thailand, and Vietnam.
The tech decacorn is looking to hire:
- Head of Legal and Secreteriat
- Senior Threat Detection Officer
- Risk Ops Analyst
- Training & Quality Lead
- IT Support Manager
Check them out and get hired here.
9. GSK
Known as GSK, GlaxoSmithkline Pharmaceutical is the main producer of Panadol. The pharmaceutical company also produces vaccines, healthcare products, supplements, and more.
Beginning its Malaysian operations in 1958, GSK Malaysia has grown substantially in its infrastructure, business operations, and talent base with over 1,000 employees.
The roles it’s looking to fill are:
- HR Quality Performance and Change Manager
- Senior Finance Planning & Forecasting Analyst
- IT Service Delivery Lead
Check them out and get hired here.
10. Hiredly
Job seekers in Malaysia are likely familiar with this job-seeking site. Formerly known as WOBB (which stands for Working On Bean Bags), Hiredly is a Malaysian-based recruitment platform.
Originally founded in 2014 targeting Gen Y and Gen Z job hunters, it shed its youthful angle in mid-2021. The platform was rebranded with a more mature image to be known as a job portal for professional junior to mid-management talents.
On top of being a job portal, it also offers headhunting recruitment services.
The company is looking for:
- Talent Acquisition Partner
- Senior Data Scientist
- Digital Marketing Specialist
Check them out and get hired here.
11. Lazada
Lazada is an international e-commerce company founded in 2012, owned by the Chinese tech company, Alibaba Group. The site retails a broad variety of product categories, ranging from fashion, consumer electronics and household goods, to toys and sports equipment.
With a presence in Malaysia, Indonesia, the Philippines, Singapore, Thailand, and Vietnam, the marketplace aims to offer customers a secure and convenient online shopping experience.
It is looking to fill positions including:
- Associate, Content & Catalog – Platform Governance
- Senior Manager, Business Development
- Manager, LazMall Strategy & Data Steering – LazMall
- Head, AI Chatbot Product – Customer Care
Check them out and get hired here.
12. Maxis
Operational since 1995, Maxis is one of the oldest telecommunications companies in the country.
Headquartered in KL, the company serves both enterprises and consumers, aiming to provide end-to-end connectivity services and communication experiences. To stay ahead, the brand is investing in high-speed advanced fibre and 5G networks.
Positions it’s looking to fill are:
- Go To Market Specialist
- Campaign and Programme Planning
- System & Application Management Associate
Check them out and get hired here.
13. Maybank
Maybank was established in 1960, offering products and services including commercial, investment, and Islamic banking, insurance, and venture capital.
According to the 2020 Brand Finance report, Maybank is Malaysia’s most valuable bank brand. It is also the 4th top brand amongst the Asean countries, and ranked 70th in the world’s most valuable bank brands.
In 2021, the bank made it on LinkedIn’s top 15 companies to work for in Malaysia, and was crowned the most attractive company in Malaysia by Talentbank’s Graduates’ Choice Award.
The positions it’s looking to fill are:
- Application Developer
- Project Manager, Group Sustainability
- Relationship Manager, Premier Wealth
Check them out and get hired here.
14. Microsoft
Launched here in 1992, Microsoft Malaysia’s office mainly manages the wholesale distribution of computers, computer peripheral equipment, and its computer software.
Some known benefits of working at the company are the discounts employees are provided with for Microsoft’s products and services, along with flexible working hours and long maternity leaves.
The company is looking for:
- Support Engineer
- Support Engineering Manager- Data & AI ARR
- Relationship Manager (Dynamics)
Check them out and get hired here.
15. Petronas
Petroliam Nasional Berhad, otherwise known as Petronas, is a Malaysian oil and gas company established in 1974. With a presence in over 50 countries, Petronas is wholly owned by the Malaysian government.
The group is engaged in petroleum activities including upstream exploration and production of oil and gas to downstream oil refining, marketing and distribution of petroleum products, and shipping.
Positions opened at the group are:
- Manager Product Ownership
- System Analyst
- Manager Data Architects
Check them out and get hired here.
16. Pfizer
Since the vaccination rollout became the talk of the town, Pfizer has been a known name to Malaysians awaiting their jabs. Established in 1849, the American-based multinational pharmaceutical and biotechnology corporation develops and produces medicines and vaccines for immunology, oncology, cardiology, endocrinology, and neurology.
Having a presence in over 50 countries, Pfizer Malaysia began operations in 1964, with 300 employees in 9 offices around the country.
The company is looking to hire:
- Medical Affairs Manager
- Key Account Manager
- Finance Planning And Analysis Manager
Check them out and get hired here.
17. PwC
PricewaterhouseCoopers (PwC) is considered the best of the Big Four accounting firms in Malaysia due to its volume of clients. It provides a range of financial services including quality assurance, advisory, and tax services to companies.
A job at PwC Malaysia is also said to be one of the most sought-out career paths for ACCA graduates.
The roles it is looking to fill are:
- Administrator – Global Mobility Services, Tax
- Associate – Deals Strategy, Advisory
- Associate, Digital Marketing
Check them out and get hired here.
18. Razer
Razer is a Singaporean-American multinational technology company that designs, develops, and sells consumer electronics, financial services, and gaming hardware.
Headquartered in KL, the Razer Malaysia branch mainly heads the e-payment transactions for online goods and services in emerging and developed markets. Razer Malaysia’s suite of products includes its merchant services, Razer Pay Wallet, and Razer Gold (for digital currency transactions), to name a few.
It is looking to hire:
- Senior Software Engineer
- Business Development Executive
- Software Engineer (Content Integration)
Check them out and get hired here.
19. Shell
Originally formed in 1907 in the Netherlands, Shell built Malaysia’s first oil refinery and laid a submarine pipeline in Miri.
Shell is one of the world’s largest petrochemical and energy companies, boasting around 86,000 employees in more than 70 countries.
On top of its activity in the oil and gas industry, Shell is also establishing its presence in fueling electric vehicle adoption in Malaysia.
Positions it’s hiring for are:
- HR Operations
- Health Manager
- Senior Process Data Engineer
Check them out and get hired here.
20. Shopee
Shopee has become a household name for many in Malaysia, spurred on due to the lockdowns that led to increased e-commerce activity. With a presence in Thailand, Taiwan, Indonesia, Vietnam, and the Philippines, the platform has recorded 2.8 billion gross orders in 2020.
Other than its strong presence through its e-commerce platform, the Singaporean-based company expanded into the food delivery scene back in September 2021.
Positions opened at the tech company are:
- Procurement
- ShopeePay Sales Associate
- HR Business Partner
- Business Transformation
- Junior Art Director
Check them out and get hired here.
21. Sunway Berhad
What began with the development of a tin-mining wasteland has become an integrated smart and sustainable township known as Sunway City Kuala Lumpur. Sunway Berhad today is one of Malaysia’s largest conglomerates with operations in real estate, construction, education, healthcare, retail, and hospitality.
In all, the group has 13 business divisions in over 50 locations worldwide, and more than 16,000 employees.
The group is looking to hire:
- Manager – Tax
- Technical Business Intelligence Consultant
- Executive – Reporting (HR Shared Services)
- Executive – Finance (Digital & Strategic Investments)
Check them out and get hired here.
22. UNIQLO
Since opening its first store in Malaysia in 2010 at KL’s Fahrenheit 88, UNIQLO has become a well-loved fashion brand locally.
The brand has over 50 retail locations in 10 states, covering Peninsular and East Malaysia, and over 2,300 stores in 25 global markets.
Some roles it’s looking to fill are:
- Public Relations Manager
- Senior Executive – Store Development
- Assistant Manager – Store Design
Check them out and get hired here.
- Read more job searching related articles here.
Also Read: 6 highlights from this insightful entrepreneur event, one of the first in M’sia post-COVID
Featured Image Credit: Fave
As Forrest Li loses S$18 billion in 4 months, should Singapore tax wealth of the richest?
(Disclaimer: All opinions expressed in this article belong to the writer)
While Singapore is preparing to increase the local Goods and Services Tax (GST) from seven to nine per cent, a lot of attention in the city-state was given in recent years to the implementation of “wealth taxes”.
Ravi Menon, Managing Director of Monetary Authority of Singapore (MAS), floated the idea in July 2021, as one of the tools to tackle “wealth inequality”, suggesting property gains or inheritance tax.
Even Singapore’s Prime Minister, Lee Hsien Loong, weighed in on the issue:
You tax consumption, you tax income, you tax savings. And you should tax wealth, whether wealth in the form of property, ideally wealth in other forms. However, finding effective ways to tax other forms of wealth is “not so easy to implement”.
Lee Hsien Loong at Bloomberg New Economy Forum, November 17, 2021
Around the same time, in November 2021, Workers’ Party politician, Jamus Lim, suggested in the parliament the introduction of tax on net wealth – 0.5 per cent on net wealth in excess of S$10 million, rising to one per cent for wealth above S$50 million, and two per cent for wealth above S$1 billion.
Many ideas, but is any of them good – or even fair?
Should wealth be taxed at all?
I picked this moment of a widespread collapse in value of stocks (particularly in America) and cryptocurrencies, to illustrate just how difficult — and perhaps impossible to do fairly — it is to attempt taxing wealth.
For the past two years, as markets rallied buoyed by excessively loose fiscal and monetary policies around the world, flooding economies with money, much of which flowed into stocks, we’ve heard many calls to tax the richest billionaires, whose wealth ballooned as a result.
At one point, Elon Musk’s net worth exceeded US$340 billion in 2021, making him the richest person in modern history and the first one to outrank John D. Rockefeller.
Left-wing activists and politicians around the world cried out at this growing “inequality” and began coming up with ideas on how to make governments trim this “excess wealth” for the public good, with some in America proposing a tax on unrealised capital gains, suggested by ex-Fed chief and current Secretary of the Treasury, Janet Yellen.
The proposal ultimately collapsed, but has certainly not made their desire to partake in the stock market (or other) riches disappear.
What people don’t seem to understand (and duplicitous politicians refuse to explain to their voters) is that wealth is not cash. Net worth is just a present — and constantly changing — representation of the market value of what a person owns. But that value did not come at anybody else’s expense, nor can it simply be “cashed out”.
Let’s look at Forrest Li, who is no longer the richest Singaporean. His personal wealth peaked at over US$22 billion (S$30 billion) in October last year. However, a little over three months later, it has melted to just US$8.5 billion (S$11.4 billion) today.
Would it have been fair to tax him two per cent, as some in Singapore propose, for the fact of owning a briefly inflated stock of his very own company?
And how would the wealth liable for taxation be estimated anyway? The peak value for the year? The bottom value? The average? Or maybe just the amount that it happened to have been on a particular day?
Why should anybody be forced to pay for little else than the ownership of something based on what someone else (i.e. the market) thinks it’s worth at a particular time?
Condition of Sea Ltd. hasn’t materially changed over these three to four months. The company is on track to achieving the results it projected in earlier quarters and the decline in stock valuation is not impacted by its performance (or lack thereof), but global market situation which saw about half of NASDAQ stocks plummet by 50 per cent or more from their last year’s highs.
Suggesting that anybody should pay any amount of money that is determined by the fluctuating market situation is absurd.
Other wealthy people around the world are facing similar fate. Elon Musk or Jeff Bezos have lost close to US$100 billion in half a year, while activists, NGOs and certain politicians called for taxing their entirely virtual, paper wealth, largely inflated by irresponsibility of the government and central banks.
Taxing net wealth would incentivise gaming the markets by both stockholders and the government.
It’s easy to see how any government would be interested in creating inflationary conditions in the equity markets to artificially increase their value to force owners to pay more of real, hard cash to the budget.
Conversely, stockholders and company owners would find it beneficial to underreport their company performance and paint a worse picture to depress the value of their holdings (particularly around the time of estimating taxable wealth).
Many would gladly take their companies private and make it far more difficult to price them, avoiding taxes altogether, minimising them or restricting to, at most, some government prescribed formula for estimating the value of private equity.
It would completely destroy free market mechanisms and force capital into hiding.
But taxing other forms of wealth is also grossly unfair, for the very same reasons. Why should anybody be forced to pay for owning something they already bought with taxable income?
Some basic form of taxing real estate is understandable, as it contributes to maintenance and improvements in the community. But why should inheritance be taxed? After all, whatever you inherit was bought with income that tax had already been paid for. It stays in the family, so why should the government want a cut when it merely moves from a parent to a child?
In Singapore, perhaps, it could be somewhat defended given the lack of capital gains taxation. In theory, after all, someone could live off occasional liquidation of his profitable stock holdings and not pay a penny on it. The same goes for property gains, which — at least when the money is not spent on another property purchase, could be deemed to be income.
Maybe this is the direction to look at: grudgingly consider taxing realised capital gains from stock trading and real estate, rather than mere ownership of something.
But an even better thing to tax is…
…consumption, not wealth
The moment you tax income or wealth, every person wants to minimise their tax bill, and the richest usually have the most tools to do so.
They can move money abroad, under-declare what they earn, hide property ownership, or simply live somewhere else, whether temporarily or for good.
One thing that cannot be escaped in the place you live is consumption. You have to eat, you have to live somewhere, drive a car, go to restaurants and so on.
And experience shows that the wealthy are more than willing to pay even highly inflated prices for things they desire in a place they chose as their residence.
That’s why exorbitantly expensive cars in Singapore do not faze them. Some of them own even a few, paying millions for something that would cost them a few hundred thousands in Europe.
And they do because consumption is controllable and reciprocal (you get something for what you pay), while blanket taxes on whatever they earn or own do not give them anything of equal value in return.
Higher GST on luxury items, designer clothing, vehicles, services or housing could help raise government revenues by billions, given that most 60 per cent of the tax is already paid by just 20 per cent of the top earning households and foreigners visiting the city-state, as I explained in my recent article:
They are a good target as they exhibit far smaller price elasticity, like all status-related goods and services. People are willing to spend more just to highlight their social position, and the tax component of the sale is less relevant to their purchasing decision.
Taxation should be tailored to human psychology and consumer propensities instead of serving ideological goals of punishing the rich for being too successful or redistributing wealth under questionable slogans of “fairness”.
Targeting wealth, in particular by trying to force people to pay by the value of things they own, is neither fair nor sound, and could lead to an economic disaster should the payers simply choose to leave to never return.
There is a reason, after all, why wealth taxation had a short-lived career even in the far more “progressive” West…
Penalising anybody for simply being successful is not the solution.
It also creates divisions in the society by portraying those who achieve the most, who employ the most people and who already pay most of the taxes as crooks, when in reality, they’re the ones pulling all of us ahead through innovative products and services that become globally successful.
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Featured Image Credit: Golden Capitalist
Also Read: Sea Ltd. lost half of its value in 3 months – what happened to S’pore’s largest company?
