Among those present were Star Media Group (SMG) group chief executive officer Chan Seng Fatt and chief operating officer Lydia Wang, GWM International vice-president James Yang and South-East Asia general manager Bruce Xu, GWM Malaysia managing director Mike Cui and chief operating officer Roslan Abdullah, U Mobile Sdn Bhd chief business officer How Lih Ren, Credit Guarantee Corporation Malaysia Bhd (CGC) president and chief executive officer Mohamed Nazri Omar, RHB Bank Bhd Group Corporate and Business Banking managing director Wendy Ting, and PKT Logistics Group Sdn Bhd chief executive officer and managing director Datuk Seri Dr Michael Tio.

In his opening address, Chan said SOBA has supported businesses across multiple stages of growth, from early start-ups to companies expanding into new markets, a journey reflected in the calibre of its past winners.

“More than a title, winning a SOBA award carries weight because it is not just about being visible,” he said.

“It is about being assessed, benchmarked against industry peers, and acknowledged for building a business the right way.”

To add an educational dimension to the session, the SOBA team introduced a fireside chat featuring a successful entrepreneur sharing his journey from early struggles to business success.

This year’s guest speaker was visionary business leader and Karex Bhd chief executive officer Goh Miah Kiat, who spoke candidly about the challenges of taking over his family business and transforming it into a publicly listed company. The chat was moderated by Freda Liu.

Industry associations that partner with SMG as SOBA judges were also in attendance.

Sound Advice

JCI Malaysia national treasurer Cynthia Chiam said events such as SOBA Prestige provide SOBA Alumni with exposure to key market players.

“The good part about SOBA is that it talks about important topics like innovation and leadership.

“And I’m sure there are so many places to learn this, but learning here feels very exclusive as it’s not open to the public.”

She added that SMEs seeking to be part of a prestigious business community should consider joining SOBA.

“But being part of the community is already a victory.”

Chiam also encouraged SMEs to embrace technology and innovation, which she described as

“Something we cannot run from.”

She stressed that businesses today are driven by data, and SMEs must understand data analytics and make informed, data-based decisions.

Kuala Lumpur Malay Chamber of Commerce deputy president Rizal Abdul Rahman said platforms such as SOBA Prestige enhance networking opportunities and accessibility to industry players, sponsors, judges and peers. He added that SMEs should pay close attention to global trends rather than focusing solely on developments within their own industries.

“Being sensitive to the global trends allows them to identify whether or not they’re on the right trajectory.”

He explained that this awareness can help businesses pivot early, especially when facing slow growth or operating in sunsetting industries.

Ways to Scale Up

Malaysian Retail Chain Association vice president Dr Afendi Dahlan said that despite prevailing market challenges, opportunities remain abundant, with differentiation being a key starting point.

“Being niche in your own market helps because it is a blue ocean, where you can create your own uniqueness and that’s how you are able to scale up and have that first mover advantage.”

He also advised businesses to think out of the box and place greater emphasis on customer experience.

“The buzz right now is we’re not selling products and services – customers are willing to part with their money for a great customer experience.”

National Tech Association of Malaysia adviser Woon Tai Hai noted positive indicators in the Malaysian economy.

“We forecast a (GDP growth of) 4.8% last year in one of our reports, but it came out 4.9%, so we are not too far off. Secondly, you can see the US currency is really weakening against ours, so there’s the opportunity to export.”

He urged SMEs to digitalise, strengthen cybersecurity measures and leverage artificial intelligence (AI).

“That is a journey you must start now as an SME today.”

Malaysian Consortium of Mid-Tier Companies president Martin Ang advised SMEs to reduce reliance on government support.

“They have to see where they want to focus their products on and where exactly is the market.”

He also emphasised the importance of mentorship.

“A smaller SME can learn from a mid-tier SME. They can learn from industrial players the pain points [these larger companies] have experienced and the challenges they endured.”

SOBA 2025 is organised by SMG with CGC Malaysia Bhd, PKT Logistics Sdn Bhd, RHB Bank Bhd and U Mobile Sdn Bhd as main sponsors. Great Wall Motor Sales Malaysia Sdn Bhd is the co-sponsor, while the Malaysia External Trade Development Corporation is the official trade promotion partner and SME Corp Malaysia a supporter.

The awards are audited by BDO, with radio stations 988 and Suria as official media partners.

For more information, call the SOBA hotline at 017-231 1789 or visit www.soba.com.my.