Day: July 31, 2024

Save over S$20,000 with NUS’ 40% discount on 86 master’s programmes. Here’s the list

National University of Singapore seeks to draw more students to its advanced degree courses, launching a rebate scheme for master’s studies in over 80 subjects this August.

As announced by NUS president, prof. Tan Eng Chye, under Master’s by Coursework Enhanced Tuition Fee Rebate Singapore citizens and permanent residents will be able to enjoy 40 per cent off in tuition fees for a limited time (from Academic Year 2024/2025 to Academic Year 2026/2027).

Notably, this includes self-funded programmes only, so students eligible for MOE subsidies do not qualify.

This tuition fee rebate does not apply to courses that are funded by SkillsFuture Singapore.

Nevertheless, since fees for these courses range from S$40,000 to S$66,000, the savings can easily exceed S$20,000, making it an attractive career upgrade path.

Something for everyone

The breadth of the offer is also impressive, with courses ranging from music through engineering to medicine, with only research-based and coursework programmes like dentistry, law and public health excluded from the scheme.

Among the more interesting and current ones, you can pursue a multidisciplinary degree in Industry 4.0 (Fourth Industrial Revolution), and there are two programs in Artificial Intelligence as well as Applied Biomedicine and Biomedical Engineering.

There are also two double degree programmes in History and International Affairs (for those less inclined towards sciences) and a host of courses in environment and sustainability.

Here’s the full list of degrees eligible for the discount:

Multidisciplinary Programmes

Business School

Design and Environment Programmes

College of Design and Engineering

Engineering Programmes

College of Design and Engineering

Faculty of Arts & Social Sciences

Faculty of Law

Faculty of Science

Lee Kuan Yew School of Public Policy

NUS-ISS

Risk Management Institute

School of Computing

Yoo-Ling School of Medicine

Yong Siew Toh Conservatory of Music

Who can apply?

Any Singapore citizen on Permanent Resident (PR) is eligible for the discount. You don’t really have to apply for it, as it’s automatically deducted upon admission. You don’t have to be an NUS alumnus either.

The offer applies to self-funded students applying for the Academic Years 2024, 2025 and 2026, either in full or part-time track, though it cannot be combined with scholarships or other financial aid — what you see is what you get.

As there’s currently no word on it being extended beyond that period, it’s best to apply earlier, rather than later to make the most of it.

Carsome targets public listing in the next 12 to 24 months, here’s what they’re looking for

Eric Cheng, the CEO of Malaysian used-car marketplace Carsome, found himself in the hot seat at the recent Tech in Asia Conference that took place in Kuala Lumpur.

In a conversation with Tech in Asia’s CEO Willis Wee, he took on questions about finding product-market fit, navigating competition with peers like Carro, and also about Carsome’s public listing ambitions.

Picking an exchange

Regarding an IPO (initial public offering), Eric shared, “We stand a good chance to list in a very near timeframe.”

So, the questions now are where they plan to list, why, and when.

“I think a lot of conversations going on in the past couple of years have been centred around exchanges that have high liquidity and can fetch better valuations. And they’re mostly not from here, not from Southeast Asia,” Eric commented.

These may include US or Hong Kong exchanges, or perhaps even Japan’s JPX or Australia’s ASX.

Eric admitted that these foreign exchanges were what the company was looking at as well, because these are exchanges that seem to promise more liquidity, more investors, and a wider pool of comparable names in the market.

But starting last year, there have been more and more conversations about how Southeast Asia can be a very good destination to support what companies and founders are looking for.

“Even closer to home, Bursa Malaysia has been becoming the most vibrant exchanges in the region or possibly even in Asia,” Eric stated. “It’s one of the exchanges that can give you the kind of multiples that can rival what you’re seeing in other markets, even in the US.”

He looked to companies like Farm Fresh and MR.DIY as positive examples of the local exchange’s potential.

“I think being a homegrown company over here, being supported by a lot of Malaysian investors, MAVCAP in the early days, Khazanah to some of the others, even the private sectors’ strategic investors, it has been also been giving us the kind of stance that here could be a good destination.”

But that said, Carsome doesn’t want to set their sights on just one exchange. They really want to make sure they are listing in the right place.

And as for the timing, Eric said, “Next 12 to 24 months, hopefully.”

Bursa has a slight edge

There’s no clear number one right now, in terms of what exchange the company is going for, Eric clarified.

“We know what we want,” he said. “We’re looking for liquidity, we’re looking for investors who can appreciate the business, and we’re looking for investors who are there for the long term.”

As a local player, this is something that Carsome might be able to achieve in Malaysia since there is a strong retail segment that understands what the company does. With that in mind, the consideration to list in Malaysia is definitely there.

“At this moment, it feels like Bursa has a slight edge,” Eric said. “It comes down to what happens in the next year or so.”

Maintaining profitability

Speaking about the timing of their listing, Eric said that rule of thumb is whether the company has good control over the next three earning results post-IPO.

“I think that is the kind of thing we’re working for internally as a business, to be ready,” he said.

This year, Carsome has reported two profitable quarters, and is on track to have its profitable year.

Eric shared that profitability has become something that cannot wait, which is quite different from how Carsome had operated previously, since they were more concerned about capturing markets before focusing on profits.

But he said that the current market doesn’t allow for that mindset. As such, businesses must react and shift towards profitability.

“It’s easy to tell myself to change, to shift that focus. But it’s not easy to tell or to shift the focus of 3,000 people in the company without a proper plan, without time,” he said. “That was really one of those moments I felt a lot of things could’ve gone wrong.”

Yet, the company is actually going to be cash-positive very soon, Eric said. He added that right now, they have an EBITDA of over US$20 million, and they anticipate this to double next year, and double again the following year.

With this, the team is now ready to focus on growing the business again.

“And this time around, it’s growing profitably,” he reminded. “Sustainable growth is the keyword right now in the business.”

Just like how becoming a unicorn wasn’t the end, he said that an IPO would not be the end either. Carsome aims to continue cracking on, focusing on offering customers the best experience possible.  

“We’re at the end of the first 10 years, we’re at the juncture where the business is profitable, the business is restarting growth, and the business has a lot of revenue channels like financing, insurance, all the ancillaries,” Eric pointed out.

Yet, the business is still very nascent, at least when it comes to building that ecosystem of revenue channels.

He shared that the ancillary offerings only make up around 20% of their total revenue. Looking to US-based Carvana as an example, he shared that 50% of their revenue comes from ancillary solutions.

“We’re not there yet, but we can get there.”

• Learn more about Carsome here.
• Read other articles we’ve written about Malaysian startups here.

Also Read: Meet the startup that powers the backbone operations of over 7K M’sian F&B outlets

Featured Image Credit: Vulcan Post

Why this M’sian opened a Kelantanese Peranakan restaurant named after the insult “mangkuk”

Have you ever heard of the expression “mangkuk”?

While it means bowl in Bahasa Melayu, it’s taken on a different meaning colloquially. According to people I’ve asked, it typically refers to “dumb” or “silly”.    

In any case, there’s actually a restaurant in KL that’s actually named after the slang term.

“Back in my high school days, most of the teachers would call my batchmates and me ‘mangkuk’,” Ding, the chef patron of the establishment said.

While many people take this word to mean “dumb”, Ding explained that there’s actually a secondary meaning.

“One of our teachers explained that we were called ‘mangkuk’ because we have the potential to do great things, yet we don’t know or refuse to apply that potential, kind of like how a bowl can only be filled with all sorts of food but can’t be eaten it on its own,” he said.

As Ding was coming up with the concept and brand name for his own restaurant, which revolves around sharing plates to be eaten with rice, he was reminded how rice is typically served in bowls. From there, he was reminded of the “mangkuk” story.

Inspired by the message, Ding named his restaurant Mangkuk by GC (Mangkuk), home to people who are constantly working towards fulfilling their potential.  

A foodie at heart

Born and bred in KL, Ding has always been a lover of food. He pursued his Bachelor’s in Culinary Arts & Foodservice Management at Taylor’s University. After that, he mostly worked at European restaurants in KL and Singapore.

Later on, he decided to further his studies in Switzerland, where he got his Masters in Culinary Business Management. Here, he experienced an internship at a one-star Michelin restaurant.

Although he’s been interested in food and cooking growing up, it wasn’t his first career choice after SPM. He had wanted to pursue something in science, but had to reconsider due to his grades.

But perhaps that’s just not what his “mangkuk” was meant to be filled with. Because in March of 2023, after years of experience in the kitchen, he opened up his very own restaurant.    

Mangkuk’s goal is to serve Malaysian comfort food, inspired by the rich culinary traditions found across Malaysia, as well as from the chef patron’s own heritage.

Ding’s mum is Kelantanese, so he spent a good part of his childhood in Kelantan, enjoying his grandmother’s and mother’s Kelantanese Peranakan cooking. This is reflected in the signature dishes served in Mangkuk.

This includes bites such as the Pomelo & Long Bean Salad (inspired by kerabu salad) and the Laksam Umai (a fusion between Northern Malaysian laksa and East Malaysian cured fish salad).

For main dishes, there’s the Signature Hong Bak (a braised pork dish with spices, gula nisan, and taucu) and the Kelantanese Kerutuk (a rich, rendang-ish curry typically found in Kelantan).  

“While my professional experience and background has always been classically French, I was utterly inspired in recent years by a lot of Modern Malaysian restaurants throughout the country and the things they’re doing, and slowly found myself gravitating towards rediscovering our own colourful culinary landscape,” he explained.

Just look at the Michelin-starred restaurants in Malaysia, including our first two-starred Dewakan, which focuses on modern Malaysian cuisine.   

“While I had no prior experience with entrepreneurship, I’ve always wanted to take up the challenge and create something that I can truly call my own,” Ding explained. “That was when I just hit my 30s, so I thought maybe it’s a good time to try.”

Marketing the mangkuk

Ding believes that Mangkuk’s direction is pretty unique for its area, so much so that it took them a bit longer to convince people to dine there.

“We were hoping to attract nearby office workers when we first opened, however we slowly found out that they’d still prefer mamak shops, kopitiams, and mixed rice shops nearby for something quick and affordable,” he explained.

Even offering a set lunch promotion on weekdays didn’t do much to increase reception. Yet, they couldn’t lower prices too much.

“That’s when we knew we had to rethink on who our main target market is,” he said.

As of today, mostly families within the Kepong and Bandar Menjalara area make up Mangkuk’s clientele. They also have the occasional visits from young foodies and affluent retirees from other parts in Klang Valley.

To reach their audience, the team has been upping their social media presence. This effort, which involves high-quality videos sharing the founder’s story, was actually what caught our attention,  

“We’ve gotten feedback while our food looks visually appealing on social media, people couldn’t really connect with us due to the lack of brand identity. That’s why we worked with a third-party marketing team as they helped create content and further solidified the brand,” Ding explained.

He said that the store definitely saw improvement once those videos went live.

Steadily filling up the bowl

Lately, business has been “not too bad”, Ding said. However, he believes Mangkuk still has ways to go before it can truly be stable.  

“Our first year wasn’t great,” he opened up. “We had to suffer losses up until CNY 2024 where we started breaking even. Start-up capital was an estimated RM300K, funded by my own savings and a personal loan from a family member.” 

Ding believes that staffing has been and still is one huge challenge in terms of operating a restaurant. The same goes for Mangkuk.

“It’s not easy finding the right people with the right mindset working with you,” he pointed out. “There were many instances throughout the first year where we have to run at the absolute bare minimum, to the point that the team and myself was slowly burning out or falling sick.”

Thankfully, things have improved. Everyone in the team learnt how to communicate and manage expectations when it comes to their workloads.

“I am happy with my team today and how far we’ve all come,” he proudly shared.

Planting the seeds for an F&B group

Mangkuk’s full name, actually, is Mangkuk by GC, which refers to the registered company name, Grub Community Sdn. Bhd.

“The dream is to have a few other brands under the Grub Community brand, where our mission is to simply bring people together and share unique culinary experiences with them,” he explained.

Before they can get there, though, Ding needs to work on stabilising their turnover and diversifying revenue streams first.

“As a chef, I will continue to work on reinventing myself, creating exciting food and slowly defining my own culinary identity,” he concluded.

• Learn more about Mangkuk by GC here.
• Read other articles we’ve written about Malaysian startups here.

Also Read: Explore Malaysia’s future in biotech, hydrogen & spacetech at this KL summit on August 12-13

Featured Image Credit: Mangkuk by GC

Chronic illness didn’t stop this M’sian from starting a plant biz, now it’s an 8 Y/O brand

There’s something inherently calming about the colour green. It evokes images of lush forests, rolling hills, and tranquil gardens. For many, it’s a visual balm, a soothing antidote to the frenetic pace of modern life. 

Lim Yee Zhing, an architect turned plant enthusiast, discovered this firsthand. Her knack for creating things led her to architecture.  

But life had other plans. An unexpected health challenge, systemic lupus erythematosus (SLE), turned her world upside down. The once vibrant architect found herself struggling with debilitating fatigue and joint pain.

From that, though, something new bloomed.

Finding solace in succulents

It’s in these moments of vulnerability that people often turn to nature for solace. For Yee Zhing, it was a succulent plant that became her unexpected sanctuary. As she tended to her green companion, she discovered a sense of calm and purpose. 

“There was something incredibly therapeutic about nurturing a living thing,” she recalled. “It was like a silent conversation with nature.”

Watching a single leaf transform into a thriving plant was a daily miracle. “It was a symbol of resilience,” she said. “These plants taught me that even in the harshest conditions, life finds a way.”

As Yee Zhing’s health improved, so did her passion for succulents. Her apartment became a verdant oasis, a testament to her green thumb and unwavering determination. Friends and family were captivated by her creations, and soon, requests for plant cuttings and terrariums started pouring in.

“I realised there was a demand for something different,” Yee Zhing told Vulcan Post. “People were tired of the usual floral arrangements. They wanted something unique and low-maintenance.” And so, Little Eden Succulents was born in 2016.

She has been on this succulent plant learning journey for about eight years while contending with SLE, a disease that causes her immune system to attack her tissues, resulting in widespread inflammation and tissue damage.

Balancing passion with business

“When I started, my focus was not on the rarity or potential lack of popularity of succulents but rather on pursuing something I truly loved. I was passionate about sharing the beauty and therapeutic benefits of succulents with others,” she shared.

Combining her love for plants with her architectural eye, she began creating stunning succulent terrariums. These miniature gardens, enclosed in glass vessels, were not just beautiful; they were also a symbol of hope and renewal.

Little Eden Succulents quickly gained a loyal following. People were drawn not only to the aesthetic appeal of the terrariums but also to the sense of calm and well-being they evoked. Yee Zhing realised that she was onto something bigger than just selling plants.

“I wanted to create a space where people could connect with nature and find peace,” she said. 

With that in mind, she began offering workshops on terrarium making. These sessions weren’t just instructional—they were opportunities for people to unwind, learn, and connect with like-minded individuals.

But Yee Zhing’s vision extends beyond the realm of plants. She is passionate about giving back to the community, and so, a portion of Little Eden Succulents’ profits is donated to charitable causes. 

“I believe in the power of kindness and compassion,” she says. “I want to create a positive impact on the world, one plant at a time.”

Overcoming misconceptions and challenges

Like any other business, growing Little Eden Succulents has been a journey marked by both triumphs and challenges for Yee Zhing. Balancing the demands of a burgeoning business while managing a chronic illness requires meticulous planning and delegation.

One of the biggest hurdles she faced was dispelling the misconception that succulents are high-maintenance. To counter this, Yee Zhing and her team implemented a robust customer education strategy, providing detailed care guides and offering post-purchase consultations.

It’s also a way for the brand to maintain its relevance and appeal amidst the growing popularity of succulents and subsequently, succulent-focused businesses.

Building and managing a team presented its own set of obstacles too. Assembling a group of individuals who not only possessed plant knowledge but also shared the company’s passion for customer service was essential. 

Strategic planning and a steadfast commitment to customer satisfaction proved instrumental in overcoming these challenges.

Little Eden Succulents’ journey began humbly, with Yee Zhing operating out of her mother’s condominium balcony. The pandemic, while challenging, also catalysed growth. 

The shift to an appointment-based studio model not only helped the business adapt but also laid the groundwork for future expansion. The subsequent opening of physical stores in prime locations marked significant milestones in the company’s evolution.

“In the years following, we were delighted to expand with new outlets, including our store in Eslite Spectrum at Level 1, The Starhill, KL, and later our third outlet, The Nest PJ by LES Group at Empire Damansara, Heritage Lane, which faces a peaceful forest reserve,” Yee Zhing told.

Growth and expansion

The support and encouragement of the community have been invaluable to Little Eden Succulents’ success. With each new store opening, the company has moved closer to its vision of creating spaces where people can connect with nature, find peace, and experience the joy of plant ownership.

As Little Eden Succulents continues to grow, Yee Zhing remains committed to sustainability. She sources her plants responsibly and encourages customers to care for their plants in an eco-friendly manner. 

Looking ahead, Yee Zhing and her team envision a future where Little Eden Succulents becomes a haven for relaxation and rejuvenation. 

The concept of a retreat centre, where individuals can immerse themselves in nature, is a core part of the company’s long-term goals. By expanding its reach and sharing its passion for plants, Little Eden Succulents aims to create a positive impact on the lives of many. 

For those considering a similar career shift or pursuing a passion project, Yee Zhing advises embracing the journey with an open heart and a resilient spirit. 

“Life’s challenges can shape perspectives and deepen appreciation for what truly matters. Let your passion guide you, and remember that real fulfilment comes from the positive impact you can make on the community.”

“Stay adaptable, cherish the small victories, and always strive to bring a little more love and kindness into the world,” she said.

• You can learn more about Little Eden Succulents here.
• Read other articles we’ve written about Malaysian startups here.

Also Read: Meet the startup that powers the backbone operations of over 7K M’sian F&B outlets

Featured Image Credit: Little Eden Succulents