“The Malaysian banks are pursuing SMEs as part of an expanded mandate to help grow its affluent base,” said Mr. Calvin Goon, Head of Affluent Division of RHB Banking Group.
Rising above economic challenges, growing the affluent target segment Mr. Calvin Goon, Head of Affluent Division of RHB Banking Group explains how to move the market forward during challenging times.
It is no secret that industry observers of Malaysia’s wealth management landscape believe that the next decade will be increasingly challenging for the high net worth (HNW) individuals who are constantly seeking higher yields while grappling with an uncertain economic outlook. Factors such as the growing complexity in China’s credit space, Brexit and the Euro uncertainty are cause for major concerns as with the issue of central banks shifting gear from accommodative to tightening which pose serious challenges to banks in moving the affluent market forward.
High net worth individuals from Malaysia and around the world are concerned with three main issues, namely inheritance, global economy and tax. In turn, banks are looking to introduce new propositions, products and solutions to address clients’ concerns. Looking to small- and medium-sized enterprise space (SMEs), there are many untapped opportunities for the banks to work on.
“These clients are more sophisticated and will demand customised products and solutions. They prefer more attentive services due to the nature of their business.”
“The Malaysian banks are pursuing SMEs as part of an expanded mandate to help grow its affluent base,” Mr. Calvin Goon, Head of Affluent Division of RHB Banking Group says. “The potential synergy will be beneficial during this challenging period.”
Taking into consideration this group of SMEs as well as the HNW investors, a more specialised and personalised approach is required. In line with this, RHB Bank created the Private Clients and Business Services segment to hold their assets that are in excess of USD1 million and above.
“These clients are more sophisticated and will demand customised products and solutions,” explains Mr. Calvin Goon. “They prefer more attentive services due to the nature of their business.”
Growing the affluent market means working harder for the clients with customised solutions. The engagement between the bank and these clients is vital, as it boils down to the overall client experience and the impression built from these efforts. It inevitably means not losing any of their capital while seeking returns.
With the inflation surge becoming a global phenomenon, Malaysians also find their incomes eroding from the depreciation of the Ringgit over the past few years. The solution to this could very well be linked to foreign currencies. By providing the benefits of diversification and lessening of risks, these measures could verily mitigate the rising economic challenges.
“I always had a desire for discovering new knowledge. My undergraduate degree included 2 years of research work and that led me to undertake my PhD in Oxford in computational chemistry and Computer-Aided Drug Design.”
When Professor Stephen Doughty moved to Malaysia with his wife and five boys all between the age of 1 and 10 about 12 years ago, it was the beginning of an exciting journey dedicated to the pursuit of helping establish a new learning institution and sharing of knowledge. Apart from taking up a new role as the Dean of Faculty of Science, then progressing up the ranks to being Vice-Provost (Teaching and Learning) at the University of Nottingham Malaysia Campus in Kuala Lumpur, it was also the start of a new life away from home – the UK, friends, and family. As with any move to a new country, this family of seven has set themselves up with a cross-border challenge – embracing the whole Malaysian experience from getting accustomed to the relentless tropical weather, learning its culture and language to tasting the variety of delectable cuisines Malaysia has to offer.
12 years later, Professor Doughty joined Penang Medical College (PMC) as its fourth president in September 2016. Stephen joined the School of Pharmacy at the University of Nottingham in 2001 having previously worked at the University of Bradford, UK. His research interests are focused on molecular modelling and computer-aided drug design with a particular interest in modelling proteins for rational drug design.
“I always had a desire for discovering new knowledge. My undergraduate degree included 2 years of research work (which isn’t normal!) and that led me to undertake my PhD in Oxford in computational chemistry and Computer-Aided Drug Design,” said Professor Doughty.
A strong believer in pushing back the boundaries of knowledge and undertaking new research to answer questions that have yet to be explored, Professor Doughty continues to actively research and publish new findings. “ this is what has kept me in academia and drives my desire to want to see PMC flourish as a university, where the whole community is engaged in the pursuit of acquiring and developing knowledge.”
“We want to establish ourselves as the place to come to for Penang’s human capital needs in supporting services like medical tourism.”
Professor Doughty has high expectations and sees great potential for PMC. Celebrating its 20th year as a medical institution in 2016, it is the beginning of a new chapter – not only is it affecting people who are connected to PMC but also its communities surrounding the institution. He believes that academic institutions must be contributing to society both globally in terms of expanding knowledge and also locally in terms of enhancing the lives of those communities in close proximity to PMC.
“I see it [PMC] growing in the next 10 years as we continue to develop new courses. We want to establish ourselves as the place to come to for Penang’s human capital needs in supporting services like medical tourism. The areas that we could move into are not only in providing doctors but also support and healthcare staff as well as area such as computer scientists for healthcare and research purposes.
Wholly owned by RCSI and UCD, PMC has been internationally recognised since 1996 and was rated by House Officer Performance in Malaysia 2009 – 2011, the Institute for Health Systems Research Malaysia, as among the top medical schools in preparing graduate doctors for their early careers. With plans to upgrade the college status to a university as the next step, it wishes to enhance students’ learning experience with plans to develop new courses as well as expand the physical infrastructure that now houses 500 students. Apart from keeping abreast with developments of lecturers and students, they are also placing importance in attracting the best quality staff and maintaining a good relationship with their partners.
CEO & Asian Strategy & Leadership Institute (ASLI)
Heading one of the major independent think tank in Malaysia is no mean feat but for its co-founder, Tan Sri Dr Michael Yeoh, it is necessary to create a better society through its extensive research work. He co-founded the Asian Strategy & Leadership Institute, known simply as ASLI, back in 1993 and has never turned back.
“Should I choose to retire I am sure ASLI will be in good hands.”
“I cofounded ASLI, 24 years ago in 1993, as Malaysia did not have an independent think tank then. The business community and many others felt there was a need for the country to have an independent think tank like the ones in USA, UK and many other countries,” he said. ASLI was the first private independent think tank set up in Malaysia and now, there are many others following in its footsteps.
He said the main purpose of setting up ASLI was to provide strategic thinking to companies and the government. “It was also to promote debate on public policy issues,” he said.
Yeoh said ASLI had taken up important issues in the country such as education, competitiveness, national unity, green technology and environment.
He, then, mentioned how Malaysians are “over politicking” in recent times. ”The political divisions is both at an ethnic and socio-economic angle. The Malays seem to be returning strong support to the UMNO and Barisan Nasional whilst the Chinese continue to strongly support the Opposition. Meanwhile we see the socio-economic divide along class lines, between the poor and the wealthy, the urban and rural voters,” he said.
He said it is rather worrying that race relations in the country is causing more division between the people. He felt that it is time for all to get back to middle ground.
He said each Malaysian need to have respect for one another, be tolerant and have better understanding of other races’ sensitivities. “We must find common space for our students and teenagers to mingle and mix in a multiracial environment,” he said and suggested sports and art as unifies.
Recently, ASLI is ranked to be among the world’s top 100 think tanks out of 7,000 think tanks in the world by the University of Pennsylvania in USA. It is also ranked 4th in Southeast Asia and the Pacific, effectively placing it in top placing in Malaysia. It has also won the Brand Laurete Award and many other awards.
“I cofounded ASLI, 24 years ago in 1993, as Malaysia did not have an independent think tank then. The business community and many others felt there was a need for the country to have an independent think tank like the ones in USA, UK and many other countries.”
Yeoh personally too has several awards to his name, the most recent being the INPenang Lifetime Achievement Award. He feels that the most satisfying achievement for him is being conferred the Doctor of Laws by the University of Nottingham in Britain, it is one of the UK’s top universities. “Of course being conferred a Tan Sriship is also satisfying,” he added.
However, it is not all work and no play for Yeoh. He enjoys travelling immensely and always make it a point to visit new countries he has never been before, each year. “Last year, I visited Morocco for the first time and the previous year I visited Portugal also for the first time,” he said. He also made sure that he sets aside time for his family to maintain a healthy work-life balance. “Family life is important and I do take family holidays at least twice a year,” he said.
Though he is now past 60, retirement is not something he has considered just yet. There is still a lot more that he felt he could do. “Should I choose to retire I am sure ASLI will be in good hands,” he said. So, for now, Yeoh will continue to lead the think tank to greater achievements.
CEO of Malaysia External Trade Development Corporation (Matrade) 2011-2015
“The different settings of each ministry have given a rounded education and experience that money cannot buy.”
Taking the lead in a challenging industry such as international trade is not an easy task and one that not many can boast of. Datuk Dr Wong Lai Sum is one such leader who had led the industry to greater heights during her service as the Chief Executive Officer of Malaysia External Trade Development Corporation (MATRADE) under the Ministry of International Trade and Industry.
Having spent decades in the public sector, Wong has held various capacities in several ministries which she believes was a privilege. “The different settings of each ministry have given a rounded education and experience that money cannot buy,” she said of the various departments she had worked in.
She first started out her career in the Ministry of Health (MOH) as an assistant secretary in the Contracts and Supply Division and later the Budget Division. “I learnt the length and breadth of planning, budgeting and supplying in a government setting from the beginning,” she said.
It was also while holding that position that she discovered civil service is not a nine-to-five job but one that demands more. “It is full of challenges especially when MOH is such an important part of the social sector,” she said. After serving in MOH, she eventually went on to serve in other ministries including the Ministry of Finance, Ministry of Home Affairs and finally, the Ministry of International Trade and Industry.
She was the Chief Executive Officer of MATRADE up till June 2015 but during her tenure there, she had successfully led the execution of over 100 events domestically and internationally each year. “Over the 2012 to 2015 period, I was involved in many projects domestically and internationally,” she said. Amongst the projects within the country that she had led included conferences such as the World Trade Promotion Organisations (TPO) Network Conference, developmental programmes such as Youth-in-Trade and Mid-Tier Programme and international exhibitions such as MIHAS and INTRADE. “I also led numerous ‘buyer-seller meets’ for international events such as International Construction Week (ICW), Offshore Technology Conference Asia (OTC) and Kuala Lumpur International Aerospace Business Convention (KLIABC),” said Wong.
Internationally, Wong took charge of major projects in the likes of Malaysia Night at Trafalgar Square in London, Discover Malaysian Art in Melbourne, China ASEAN Expo (CAEXPO), Malaysia Week in Myanmar and India. “My last 6 months being with MATRADE was the World Expo in Milan, where I was the Deputy Commissioner General for Malaysia,” she said.
“The greatest challenge is creating a balance. The government is not without limitations and as service providers we need to prioritise and stay focused on our kpis for appropriate results.”
Taking charge of such a large and important organisation is not a bed of roses as Wong can attest to. “The greatest challenge is creating a balance. The government is not without limitations and as service providers we need to prioritise and stay focused on our KPIs for appropriate results,” she said. Being a woman in a man’s world also carries with it some challenges but Wong said this was also to her advantage.
“Admittedly, it is still a man’s world especially at the top and women must stay strong to get there,” she said. While it is true that a woman needs to put in extra effort to show their capabilities as leaders and managers, she believes that it is women’s passion that drives women to success. “I believe that women are creatures of passion and this passion is what drives them to achieve the unexpected. Contrary to common thought, women of today handle things differently and are capable of controlling their emotions,” she added.
On facing up to the challenge of promoting Malaysian products and services to the world, she said it is no easy task because most Malaysian products are not outstanding in terms of quality and finishing. “Malaysians are slow in terms of branding and differentiating their product and service offerings,” she said. While Malaysians generally provide better after sales service, Wong said Malaysian products are simply not competitive enough especially in a price war. “For certain exports which are agro-based, the supply situation is still wanting and certain domestic processes still need to be improved,” she said.
“Malaysians are slow in terms of branding and differentiating their product and service offerings.”
Even for the services sector, it is another challenge to move Malaysian service providers out of their comfort zones to venture out overseas. “For some who are more adventurous, they face stumbling blocks such as accreditation, job experience overseas and adequate financing,” she said. Therefore, it is not easy to promote Malaysia to the world especially in countries that have very high technical barriers in terms of standards and procedures. “For such countries, a market presence is essential and events and programmes must be done repeatedly to gain attention and mind share,” she said. “It also requires a lot of intervention with the authorities, industry association, chambers of commerce and the trade community in the host country,” Wong added.
Now that Wong has retired from MATRADE, she is not sitting on her laurels but continued to provide service and this time, through education. ”Currently, I am spending a lot of time engaging with the young through teaching at universities,” she said. Together with some friends, she had started a finishing school called Le NouveauPro (The New Professional). She explained that it is a training platform which is aimed at filling the gap between the academia and working life.
“It is not just about eating right and dressing right but about the soft skills needed to fit into the work environment. So, I hope to make a difference for both employers and employees,” she said. The Le NouveauPro is open to university and college students, as well as young recruits. Wong is also actively contributing to the private sector and holds positions on several boards of large corporations.
CHT Pursuit of Excellence (Business : Government) Award 2013
Like many successful stories, it all started with a dream. The dream of the Late Datuk Dr Loh Guan Lye was to set up a private hospital ‘to reciprocate the support given to him by his patients and well-wishers over the years, and to also complement the increasingly overcrowded facilities of government hospitals. The hospital is a place where the public can seek specialist care and where specialists can practise good medicine’. The hospital then was named ‘The Specialists Centre’ which was later renamed LohGuanLye Specialists Centre (LSC) in1996, in honour of the late Datuk Dr Loh Guan Lye. The dream started in 1975 and the Centre is now 41 years old. Till today it is still family-owned and has been caring for more than three generations of patients.
The son, Mr Kelvin H Y Loh, Chairman and Managing Director, and the grandson, Mr Nicholas S W Loh, Executive Director, are also both successful Consultant Obstetrician and Gynaecologists practising in the hospital.
The unique story then continues with Dr Mary Quah, Chief Executive Officer, the driving force behind LSC, a non-family member, managing a family business in a One Big LSC Family way. She joined LSC in 1982 and has worked with three generations of the Loh family.
A visionary leader who leads with passion, Dr Mary Quah then made the dream into a vision and it became a reality with a lot of hard work and effort, dedication and commitment from everyone in LSC, making LSC to what it is today, one of the leading healthcare in the region, leading into the future.
In response to the earnest requests of patients for additional facilities and services, especially for cancer treatment, Dr Mary Quah was instrumental in the planning and development of the new wing in Macalister Road, from the architectural design and layout to the interior design and even the colour scheme with patient’s comfort in mind.With this new wing, which was completed in 2009, LSC now has three wings, namely the Main Wing, Women and Children’s Wing and the Diagnostic Wing, offering a very comprehensive range of facilities and services including the treatment of cancer and heart diseases.
With her leadership, LSC has overcome many challenges and has come out stronger than ever. LSC has also achieved many milestones, accreditations, various awards and accolades internationally and locally.
According to Dr Mary Quah, the culture of LSC is one of putting our heart and soul into everything we do, be proud of what we are doing and do our best. We strive to be the best and care for our patients with the best in human resource and technology to ensure good outcome.
Dr Mary Quah always believes in putting people first as ‘it’s the people who move an organisation’. When a leader leads an organisation with passion, and always does the right thing for the organisation and its people……that is the key success factor. Some of her inspiring phrases to the team include….’the business belongs to you, you take care of the business, we take care of you, the organisation grows, you grow’,‘everybody in this organisation is important, we do not employ unimportant people’, ‘customise your handling of people’. She takes pride in her team and is thankful to have such a caring team of dedicated and committed Management, Doctors and Staff in the organisation, as well as Mr Kelvin Loh and Mr Nicholas Loh for believing in the team and their support.
Most of all she is very thankful to all LSC patients for their trust and continuing support and for making LSC their ‘Hospital of Choice’.
Gan General Manager of Schwarzkopf Professional of Singapore & Malaysia
In 1893, Hans Schwarzkopf who was a qualified chemist in Berlin started a small drugstore. No one would have predicted that this business would eventually become one of the most influential hair care companies in the world.
General Manager of Schwarzkopf Professional of Singapore & Malaysia, Richard Gan told EZ that the brand was introduced to the Malaysia market over 50 years ago. It has since gained a very good reputation and currently rank No. 2 in the market.
Richard joined the company one and a half year ago with the responsibility to improve the bottom line. Besides, he is also expected to enhance the company’s structure and strengthen the brand positioning.
The General Manager also mentioned that although market competition is fierce, sometimes the biggest enemy is from within and not the competitors when the team is reluctant to adapt to market needs. “Consumers nowadays are very well-informed, we will still loose out if we do not evolve and use our innovative strength effectively,” he added.
Professional hairdresser Club (PH Club) A good brand must play to its strengths, and to create a more efficient team.
“We have made improvement in restructuring the organisation to re-establish our market position. Basically, we are creating a new platform for our brand and business. Only then can we play the role of a good wholesaler, fostering seamless business relationship between the hairdressers and the brand.”
“Globally, Schwarzkopf Professional has launched its‘Essential Look’ App to match the digital trend…”
A good example is PH Club – Schwarzkopf Professional’s exclusive club for professional hairdressers, which aims to provide a range of value-added services to its loyal customers.
Schwarzkopf Professional provides technical support for the salon and helps to train the junior hairdressers. Business seminars are held monthly, experts from the regional team are invited to share their business expansion strategies of hair salon.
This year, the brand also launched a runway show together with the TV station. Contrary to expectation, it’s not just a hair show but a combination of fashion and other elements to feature the most popular hairstyles. The show was a big success.
Richard admits that the haircare and hair colouring market is constantly evolving, such as the e-commerce trend which they are still observing. “Globally, Schwarzkopf Professional has launched its ‘Essential Look’ App to match the digital trend. But I believe the most important thing for us is to get the confidence of our business partners. We are improving, one step at a time, to provide more value-added products and services to our customers. I’m glad to see we are starting to get the recognition from them.”
Your well-being in their capable hands 你的幸福掌握于他们精练手心
When the Class of 2016 graduates in the next few months, they will bring their passion to the healthcare system worldwide.
After almost 5 years of academic achievements, the students have grown into doctors. They were first trained in Ireland at either the Royal College of Surgeons in Ireland (RCSI) or University College Dublin (UCD), two award- winning, world-renowned medical universities.
Their prestigious pre-clinical studies in Ireland, is quoted as an experience of a lifetime with quality education, exemplary medical professionals as educators in state-of-the-art facilities. The students study and practice with international students from all around the world.
Now, they have almost completed their clinical training in healthcare facilities exclusively available to them with the help of some of the leading medical professionals in the country involved in state, national or regional initiatives and policies.
The faculty in Penang enhances their educational experience and encourages them to change lives wherever they are. Their contribution to the underprivileged shows their passion for serving society.
Voluntarily collaborating with local private hospitals, food sponsors and charity drives, the Community Outreach Society (COS) and faculty-led initiatives drive outreach activities and health camps to underprivileged groups around the country.
The students visit old folk’s homes for the abandoned, Down syndrome children homes, free clinics for the impoverished and frequent visits to orang asli villages in the interior areas of Perak and Kedah.
Their Rohingya Readers programme runs on fortnight Saturdays is to promote the importance of learning and education among the Rohingya children. The one-on-two tuition is tailored to the children to allow them to achieve their true potential or uncover hidden talents. The students hope to provide these children with living skills and health education to feel empowered to run their lives and establish themselves in society.
This batch of students have the passion to open up a world of effective and positive change among the people they work with and all for a better future. The network of communities spans from Ireland, Malaysia and across the globe.
In the weeks before their final semester, the students traversed countries as far away as Nepal, India, Cambodia and Vietnam while others took to experience healthcare systems in Cannes, USA, New Zealand and Australia. They have acquired skills for global impact.
Doctors in hospitals already recommend Penang Medical College for the Irish Medical Degrees programme. This is the testament to the quality and capability of the PMC students, housemen and professional practicing under them in hospitals across the country.
The Class of 2016 will take us further. Their upcoming graduation will confer them with highly sought-after MB BCh BAO* medical degrees from the NATIONAL UNIVERSITY of IRELAND (NUI) and Licentiates from the RCSI and the Royal College of Physicians in Ireland (LRCPI). They will be sanctioned medical professionals you will look for to trust your well-being in their capable hands.
PMC Student Association (PMCSA) former president, Lee Jasmine, Class of 2016 shared this on behalf of the graduating class “Over the past few years, we have learned to look, feel, move and listen. For the coming years, we will learn to serve, to be accountable and responsible. Thus, the learning journey continues”.
To find out more kindly contact us at email@example.com or 04 – 228 7171, or visit our websitehttp://www.pmc.edu.my