BUKIT MERTAJAM: The second Star Outstanding Business Awards (SOBA) LAB for 2025 opened to a full hall of participants eager to find out more about “AI (artificial intelligence) and Digital Insights: Pushing Marketing to the Next Level”, which was the topic for the first session, and “Mastering Entrepreneurial Finances and Avoiding Pitfalls”, the topic in the second session.
The event was held here on Aug 14 at the Iconic Hotel Penang.
Attending the event were SOBA 2025 main sponsors, Credit Guarantee Corporation Malaysia Bhd (CGC), PKT Logistics Group Sdn Bhd, RHB Bank
Bhd and U Mobile Sdn Bhd, with co-sponsor Great Wall Motor Malaysia and Malaysia External Trade Development Corporation (Matrade) as the official trade promotion partner.
Supporting the event are SME Corp Malaysia, JCI Malaysia, the Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI) and the Malaysia Entrepreneurs’ Development Association (PUMM).
Before the first session sponsors gave short business presentations on their business model and offerings to small and medium sized enterprises (SMEs).
Introducing CGC Malaysia was the head of SME Advisory and Strategic Alliances Mike Wong, while PKT Logistics Group Sdn Bhd was represented by its group chief revenue officer Kuan Eu Jin.
RHB Bank Commercial Business Banking Centre head Barney Yong Kwan Ngai represented the bank while U Mobile Sdn Bhd with Direct Team, Large Account section head Francis Tan.
In the first session, JCI Malaysia Immediate Past Area Chairperson and event moderator Jee Soo Lip introduced the AI panel.
They include Matrade northern regional office director Har Man Ahmad, Digital Penang chief executive officer Ng Kwang Ming, THP Medical Sdn Bhd chief operating officer Derrick Chen Jing Wei, Universiti Sains Malaysia Digital Communication lecturer Assoc Prof Dr Izzal Asnira Zolkepli and PKT’s Kuan.
At the SOBA LAB session, panelists highlighted how SMEs can harness digitalisation and AI to grow their businesses. Digital Penang’s Ng stressed the importance of SMEs having at least a basic web presence, while SOBA 2024 Young Entrepreneur of the Year Chen advised using affordable tools like ChatGPT to ease workloads.
Assoc Prof Izzal noted that AI can personalise marketing, target audiences, and spot trends, but reminded that effective use requires proper prompting skills. Kuan reinforced that AI should be seen as a tool to support – rather than replace – business acumen, while Har Man added that AI can also refine export strategies, helping firms reduce losses and maximise ROI through better branding and profit opportunities.
Before the event resumed with the second session, SME Corp Malaysia, represented by its Penang state director Nurul Zahirah Ayob presented the agency’s “Initiatives for SME Development”.
She introduced SME Corp Malaysia’s key efforts to support SMEs across the country – from capacity-building and funding access to digital adoption.
In the second session, the panel looked at how entrepreneurs can gain financial literacy to thrive in today’s dynamic economy.
The panel in this session included BDO sustainability partner Chok Chau On, Cavalier Capital Holdings Sdn Bhd CEO and SOBA 2025 Entrepreneur of the Year winner Datuk Roland Choong Tae Kwon, CGC Malaysia’s Wong, and RHB Bank Regional Sales head for SMEs Darren Lau Chia Howe.
During the finance-focused SOBA LAB session, panelists emphasised the importance of sound financial management for SMEs. Wong advised micro SMEs to prioritise identifying which financial challenges to tackle first rather than rushing to seek funding.
Lau highlighted that banks offer working capital and short-term loans, and urged businesses without collateral to explore government funding options.
Addressing inflation, Chok stressed that proactive cash flow management is vital, recommending tools such as sensitivity analyses, receivables monitoring, debt automation, and maintaining banking facilities as buffers.
Datuk Choong further cautioned entrepreneurs to engage trusted advisors who can safeguard against risky ventures.
SOBA 2025 is organised by SMG with CGC, PKT Logistics, RHB Bank and U Mobile as main sponsors, Great Wall Motor Malaysia (GWM) as co-sponsor and Matrade, the official trade promotion partner and SME Corp Malaysia as supporter. It is audited by BDO while radio stations 988 and Suria are official media partners.
For details, call the SOBA hotline at 017-231 1789 or visit www.soba.com.my. The upcoming SOBA Elevate event is scheduled for the end of October.
