New Norm Pushes Leaders in Solar, Banking & Manufacturing to Transform

12 May 2020

12 May 2020, Kuala Lumpur - According to the recent announcement by the government, Malaysia has incurred an estimated amount of RM63 billion losses since the MCO came into effect and would suffer another RM35 billion should it be extended for another month.

With the recent easing of the MCO, businesses are clambering to put into place continuity plans alongside the need to adhere and implement social distancing guidelines. The fine line between health and the livelihood of the rakyat are now placed in a delicate situation as they weigh heavily against each other. 

Discussing the topic of transforming in the new norm and seizing opportunities during the pandemic, were business leaders from the banking, manufacturing and renewable energy industry at a recent webinar titled: Embracing the New Norm: Now and Beyond MCO. 

In the session, Ko Chuan Zhen, Chief Executive Officer & Co-founder of Plus Solar said “The pressure is real and we can not sit on the side-lines as the pandemic takes a sweep across all businesses. No doubt, safety and health remains our top priority as people are our strongest investment. Whilst we have put in place a Covid-19 response team and encouraged the majority of our colleagues to work from home, this does not stop us from seizing opportunities identified during this pandemic and transforming our business. 

“We must identify the kind of offerings that can provide real solutions for our customers in such pressing times. In doing so we recognize that sustaining overheads is a real pain for businesses with the highest costs being raw materials, human capital and electricity. As such, we are focused on helping to reduce the bottom line, specifically with electricity. To execute this we are providing free energy clinic consultations for businesses, to help check a building's energy consumption and provide advice on optimum usage.

“Cost still remains a concern for solar energy investments at this time where businesses are looking to just stay afloat. To address this we have put in place a zero upfront investment plan for businesses, which means businesses do not need to put up a sum of money upfront to install solar solutions, yet they are able to enjoy energy cost savings upon installation and transform the way they consume electricity. 

This has drawn some attention as it is an attractive alternative for companies that are tight on cash flow ” said Ko at the recent webinar. 

Also on the panel of speakers was Christopher Yap, Managing Director, Business Banking, AmBank Group who shared about the bank’s immediate efforts to help SMEs transform, as they are the backbone of the Malaysian economy.

“We will be launching initiatives to assist SMEs in adapting and transforming with the new normal, for example in the areas of digitalisation and e-commerce. Other initiatives will include the deployment of SME funds, as well as to aid them in applying for grants and certifications from the government,” he added.

Speaking on behalf of the manufacturing and mid-tier industries was Callum Chen, CEO of LH Plus who said “To stay afloat and to compete in today’s new world, businesses need to pivot their mindset, learn to diversify and optimize their productivity, transforming their business. 

“For example at LH Plus, we initially sold only to the US market but due to the concentrated risk, we later expanded into Japan. This also ensures our manufacturing floor is running  at optimum productivity throughout the year, whether it is peak or off-peak periods.

“Also, we adopted non-cyclical trends such as disposable medical products that do well in economic downturns, since demand for their products and services continues regardless of the state of the economy,” he further added. 

“Be swift to seize the opportunities, strengthen your position with the new norm through timely transformation. Never waste a good crisis - for there are opportunities even then,” said Ko.

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About Plus Solar Systems Sdn Bhd

Plus Solar Systems Sdn Bhd is the nation’s leading total clean energy solutions company with a track record of over 200MWp. Driven by the vision of transforming the electricity consumption pattern of people through the Energy Trilogy, which consists of Energy Generation, Energy Efficiency and Energy Storage, Plus Solar Systems was established in 2013 to provide turnkey solutions-engineering, procurement, construction and commissioning (EPCC) services to fulfil the current needs of the market. In 2015, it subsequently developed a solar farm as an investor. As a total clean energy solutions provider, it provides integrated solutions with state-of-the-art technology systems and cost-effective financing options to fulfil society’s every need of clean energy. Today, Plus Solar has offices in Kuala Lumpur, Penang, Johor and Perak.www.plus-solar.com.my

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