Category: Uncategorized

  • Naluri: Mental Health and Wellbeing

    Naluri: Mental Health and Wellbeing

    As an entrepreneur, CEO and Ironman triathlete, many only see my public persona of strength, resilience and energetic enthusiasm to embrace life’s challenges and opportunities. Hardly anyone knows about the recurring anxiety attacks and chronic stress that can leave me either bed-ridden or feeling disengaged and withdrawn.

    Many do not understand that mental health is just like physical health. Some days we feel physically strong, and other days we become sick – either from an infection that may heal in a few days, or when we are struck with a lifelong or life-threatening disease.

    This can either be from a genetic or inherited condition, or even from being unhealthy from our own lifestyle choices like getting diabetes or hypertension because of poor diet, lack of exercise, smoking and stress.

    Mental health also exists on a spectrum. There’s positive mental wellbeing – when someone is optimistic and curious, focused and resilient, and socially connected. On the other hand, feeling depressed, anxious and stressed is completely normal.

    Most of us can self-regulate and feel better after a few days, but others suffer from clinical levels of depression and anxiety because the triggers that lead to these feelings are either prolonged or so intense that the body can no longer return to normal.

    It is similar to diabetes where consuming a lot of sugar can cause our blood glucose to spike. If it is only occasionally, for example, having a slice of chocolate cake, the body’s insulin hormones normalise blood glucose.

    However, prolonged and excessive sugar consumption impairs the ability of insulin hormones to regulate glucose and that leads to diabetes. Over time as diabetes progresses, it can cause kidney failure, blindness and even death.

    Similarly, other hormones control our mental and emotional state, like serotonin and oxytocin. Prolonged stress and pressure, or even intense trauma, can interfere with the functioning of these hormones, causing clinical disorders.

    Other mental health conditions can be brought about by genetic and biological factors, leading to illnesses like psychosis, schizophrenia or bipolar disorders, just like auto-immune diseases or cancer which affect our physical heath.

    The links between mental and physical health are very deeply intertwined, and there are significant overlaps between these chronic conditions. This can be seen, for example, in the relationship between diabetes and depression, or anxiety and heart diseases.

    Addressing only one aspect without the other may be a partial solution, with lower chances of success. We need healthcare that is more holistic with ongoing support, rather than transactional consultations or prescriptions.

    Seeking support

    So, how do we know if what we are feeling is a regular level of emotional depression or anxiety, or a sign of serious distress?

    Again, parallels to physical health are crucial. We can measure our blood sugar levels or blood pressure, but we still need a trained physician to conduct a comprehensive examination and provide a diagnosis of diabetes or hypertension.

    Similarly, while there are some symptoms of mental illness, it is important for trained clinical psychologists or psychiatrists to provide a proper diagnosis.

    Potential signs or symptoms include feelings of helplessness or hopelessness, loss of interest in daily activities, anger or irritability, insomnia or oversleeping, appetite or weight changes (eating too much or too little), reckless behaviour and unexplained aches and pains.

    Professionals would probe to see if these symptoms persist for about two weeks to indicate the body’s inability to self-regulate, and that the person can no longer carry out their usual tasks and responsibilities.

    The best way to support someone going through these conditions is to get proper professional help and support. Well-meaning friends and family members can be unhelpful because they can be too judgmental or dismissive, e.g. telling their loved one to snap out of it or to pray hard, or by wanting to help ‘solve’ the problem, they add more pressure.

    Unless there is a visible danger where we need to quickly escalate it to medical professionals, the best way to be supportive is to just be there for them in a non-judgmental way, and to validate that what they are feeling is real.

    Avoid asking them why they are feeling that way and avoid telling them that you’ve been through what they are going through. It’s about them, not you. Just be present, either by holding their hand, or offering to help them with any tasks to lighten their burden.

    When they are ready to talk, they will open up to you. Do not expect them to instantly open up just because you want to help them there and then.

    If we are going through these feelings ourselves, there are different actions that we can take. The best is to reach out and get assistance from professionals who are trained to listen attentively and be supportive without judging you.

    One of the organisations you can reach out to is Naluri, which provides clients with a 24/7 telephone helpline as a first level of support.

    There are various ‘first-aid’ actions for someone going through an anxiety or panic attack, in the form of breathing exercises or grounding exercises. These bouts usually last for about 10-20 minutes.

    However, it is important that your mental healthcare professionals help you get to the root issue, define goals and motivations, reframe mindsets and help you focus on the actions that you have control over instead of dwelling on factors beyond your control.

    Now more than ever as we go through the pandemic and resulting economic slowdown, financial pressures are overwhelming for many. Through Naluri’s quantitative approach, we have seen a 30% increase in depression and anxiety after the lockdown and movement restrictions.

    This is even higher when we narrow it down to young millennials, typically in the 21-30 age group. A traumatic event such loss of employment or even bankruptcy can even escalate to financial post-traumatic stress disorder (FPTSD), which is now its own mental illness classification.

    From a preventive perspective, just like going to a gym to get physically fitter, there are various daily exercises that we can perform to sharpen our focus and concentration, and build our optimism, resilience and curiosity mental muscles.

    The challenge lies in avoiding over-reliance on specific short-term actions or ‘hacks’ readily available on the web, and to find sustainable support and coaching to embed these as regular habits so that they do not die off after a few days. Prevention, after all, is much better than cure.

    About the author

    Azran Osman-Rani is the CEO of Naluri, a Malaysian digital health technology company.

  • Laws of Attraction: What Attracts Malaysian Jobseekers?

    Laws of Attraction: What Attracts Malaysian Jobseekers?

    JobStreet Malaysia today announced the Laws of Attraction recruitment study, with insightful data from more than 10,000 local candidates, cutting across over 25 industries. The study of Malaysian jobseekers is especially timely for organisations seeking to build and retain teams that agilely combine skills and mindsets needed in the path toward post-COVID economic recovery.

    The Laws of Attraction study not only offers insights by JobStreet at a Malaysia-specific level but also crystallised information in terms of specialisation, industries, age groups and job levels with an overview comparison for each finding. The collective data is unlike any other as it is customisable, allowing organisations to explore and extract different candidates from any industry, based on their organisational as well as skills requirements.

    For Malaysian organisations seeking to navigate their way forward after the lifting of the Movement Control Order (MCO), these findings go hand in hand with the government stimulus package which is designed to help retain the existing workforce and secure new talents for rebuilding. Staying close to JobStreet’s mission as the trusted talent partner for organisations, the study is available online as a microsite with easy-to-use navigation tabs, categorised by segments to narrow down the specialisation the organisations require. This further solidifies JobStreet’s position as Asia’s Best Talent Sourcing Partner with user-friendly tools to find the right candidate.

    The study reveals thinking driving four generations of jobseekers from Gen Z: aged 18-23, Gen Y: aged 24-34, Gen X: aged 35-54 up to Baby Boomers aged: 55-65.

    Salary and Compensation along with Work-life Balance applied to all Malaysian talents but not for Gen Z. They prefer Personal Growth and Career Development as they are just starting to enter the workforce.

    Gen Y focuses on Career Development in an organisation when it comes to choosing a job – this includes overseas training and promotion opportunities.

    Job Security drives Gen Y, X and Baby Boomers due to factors such as commitments or family. The majority of Malaysians in the workforce are currently from Gen X and Gen Y, which comprise 45% and 40% respectively.

    The key drivers also differ according to industries. Salary and Compensation are high priorities for the Banking/ Finance and Consulting (IT) industries, whereas Work-life Balance is important for Advertising and IT industry. For talents in the Auto, Electronic & Manufacturing and those in Oil & Gas, are driven more by Career Development.

    The Laws of Attraction at a Glance

    With more Gen Z, Gen X, Gen Y and Baby Boomers working together, organisations today face unprecedented challenges in managing a multigenerational workforce. This is where the Laws of Attraction data help organisations make the right recommendation and hire with precision.

    Organisations are also faced with issues of retaining talents during this challenging time due to cash flow and income issues. To help organisations retain rather than retrench staff, the Malaysian government announced its RM250 bil Prihatin Rakyat Economic Stimulus Package (PRIHATIN).

    This package includes a range of financial assistance, ranging from deferment of payments for tax instalments up to six months to subsidising employee salaries. This initiative is targeted at assisting SME businesses which are especially prone to choosing this short-term solution due to their vulnerable cash flow, but such decisions tend to extract a higher cost when it comes in the recovery-19 crisis.

    As JobStreet Malaysia Country Manager Gan Bock Herm explained, “With the current economic pressures brought about by COVID-19, more than ever, employers need stronger recruitment and retention efforts. This is where data and local insights are important to understand what Malaysian organisations and workers need to form teams critical for their economic recovery after the pandemic. The Laws of Attraction harnesses insights on important motivators across four generations of talents. These insights provide a clearer overview for an organisation and recruiters to attract and retain top talent.”

    As organisations move toward recovery, the working environment is faces transformation in response to uncertainties brought about by the pandemic.

    Multi-generational Workforce 

    The two major factors of driving changes in the multi-generation workforce are demographic and technological transformation. In terms of demographics, each generation has different ways of communicating, different ways of working, and each with different expectations for employers. It is necessary to manage such an expectation in order to be able to work efficiently. The Laws of Attraction give insightful detail for organisations to understand these generational characteristics and enable them to effectively attract, building teamwork while adapting to economic changes.

    As underlined by Gan, “With four generations working together, organisations and recruiters need to pay attention to the subtleties of multi-generational cooperation so that the organisation can successfully maximize integration, collaboration and engagement toward business recovery as well as sustainability.”

    Accelerating Digitalisation 

    The COVID-19 pandemic has fast-tracked digital transformation in organisations. It has rapidly reshaped the way organisation and employees communicate and work as well as the deployment of technologies such as Big Data, Internet of Things (IoT), Artificial Intelligence, Machine Learning and Robotics to cope with the pandemic’s onset.

    These changes also impact the skills that are required in the workforce as well as how recruitment processes are done. Almost overnight, organisations not only had to speed up their digital transformation but more importantly, maintain a humanised recruitment process.

    The Laws of Attraction study found that 34% of Gen Z find it acceptable to have interviews through video calls than other generations, as compared to Gen Y at 32% and Gen X at 30%. For contrast, just 19% of Baby Boomers found video interviews acceptable. This further signifies the importance of organisations humanising the whole recruitment process. For example, a smart organisation would adapt to provide an immersive experience and making the session feel more like a two-way conversation. Talents, in turn, can get a real feel for the company values, culture or even team members as they would be “there in person”.

    Work-Life Balance 

    This is the second most common factor across all generations and an important sub-driver for work-life balance is the ability to work from home or remotely. This has proven particularly important and relevant to the current situation as the Malaysian Government enforces social distancing and the Movement Control Order (MCO) to contain COVID-19. It is shaping to be a requirement, rather than an option, at a time when organisations in non-essential industries to operate remotely to ensure business continuity.

    The Laws of Attraction findings further assist organisations to understand the perception of working from home from the four generations. It reveals 72% of Gen X prefer to work from home, closely followed by Gen Y with 71%, Gen Z trails with 64% and Baby Boomers at 66%. Malaysians are receptive toward working from home or remotely, given the higher than 50% approval rating from all generations.

    The comprehensive findings through the Laws of Attraction by JobStreet Malaysia offer a good perspective of talents for organisation and also help organisation to strategically plan their workforce, especially during these economic uncertainties. The findings will also help to minimise discord in the process of recruiting by understanding the forces that attract Malaysian talents to a role and how to best retain them in the long run. For more information, visit https://www.jobstreet.com.my/en/cms/employer/laws-of-attraction/

     

  • Digital Fundraising Platforms in Malaysia

    Digital Fundraising Platforms in Malaysia

    In a world where convenience is key, Malaysia’s equity crowdfunding (ECF) and peer-to-peer (P2P) financing industry continues its steady growth and is expected to cement its position as part of the country’s digital fundraising platforms and financial landscape.

    Both the online financing platforms collectively raised RM587.05 mil as of September 2019, benefitting close to 1,600 micro-, small- and medium-sized enterprises (MSMEs), according to Securities Commission Malaysia (SC) statistics.

    There are now 21 registered recognised market operators (RMOs) in Malaysia – 10 ECF and 11 P2P financing players – whose role is to facilitate fundraising activities for businesses or companies from both retail as well as sophisticated investors via their respective online platforms.

    For perspective, ECF is a mechanism that allows a start-up or other smaller enterprises to obtain capital through small equity investments via online portals to publicise and facilitate such offers to crowd investors.

    P2P financing, meanwhile, involves a lending and borrowing activity between businesses and investors that are facilitated through online marketplaces, in this case, P2P financing platform operators.

    Positive Outlook for ECF

    Since its introduction in Malaysia, ECF has become one of the preferred alternative financing options and an enabler for small and medium enterprises (SMEs) to raise funds for their businesses.

    In fact, Malaysia is the first country in Asean to have a regulatory framework for ECF. Six ECF RMOs were approved by the SC in 2015, followed by one in 2018 and three more in 2019, each possessing its own unique expertise and reaching out to new groups of investors.

    As of September 2019, a total of 70 ECF campaigns raised a total of RM67.7 mil and have supported 69 SMEs, with 75% of the issuers being tech companies.

    Source: Ata Plus

    Ata Plus co-founders Elain Lockman and Kyri Andreou opine there will be a positive outlook in the upcoming year for ECF as an alternative financing option and also as an enabler to spur the SME industry.

    “The overall market outlook, however, is very dependent on external factors such as economic and geopolitical developments as Malaysia’s economy becomes increasingly intertwined with the global economy in events such as the recession in Hong Kong, the ongoing trade war between the US and China, the increasing number of civil unrest in many countries, and also climate change,” they explain.

    Lockman and Andreou also note that ECF will probably see an increase in the number of deals as the Malaysia Co-Investment Fund (MyCIF) kicks in, along with growing awareness and understanding of the asset class among both companies and investors.

    The government’s additional allocation of RM50 mil – announced during Budget 2020 – to the SC’s My Co-Investment Fund (MyCIF) is expected to help drive greater awareness of both ECF and P2P financing as viable and attractive digital financing options for Malaysian SMEs. This is in addition to the RM50 mil allocated during the previous budget, thus bringing the total fund to RM100 mil.

    From the viewpoint of companies raising funds, share Lockman and Andreou, this RM50 mil allotment to match investments in ECF and P2P financing platforms will ease their ‘burden’ to an extent and will encourage more companies to consider ECF as a viable option for fundraising.

    More exits expected in 2020

    Earlier in October, Ata Plus announced its first exit which came in the form of Skolafund, an impact enterprise that crowdfunds scholarships to university students in need.

    Skolafund, which fundraised on Ata Plus in February 2017, was completely acquired by one of Asia’s biggest donation crowdfunding platforms. The deal gives investors in the ECF round a return of 10%.

    In the same month, ECF platform pitchIN also saw its first exit after a group of MyCash Online investors accepted a buyout offer for their shares from venture capital (VC) firm 500 Startups. The offer, which gave them 44.2% returns over two years since the ECF deal, was made alongside an investment by 500 Startups into MYCash Online.

    MyCash Online is a fintech startup that provides an online marketplace for unbanked migrants to purchase products and services online without the need for a bank account or credit card.

    The third “exit” came in the form of a biotech company, Greenlagoon, although it is not really a traditional exit. One of the very first companies that raised funds via ECF with US$191,000 (RM800,000) raised from 24 investors from Crowdplus. asia, it has completed two renewable energy projects with two more in the pipeline.

    Ata Plus’s Lockman and Andreou foresee the recent exits would have given investors greater confidence and more possible exits in 2020 are expected. They foresee the coming year may also see the launch of the secondary exchange that can support interim exits for ECF investors which would also motivate investors to invest in this particular asset class.

    Setting the tone for 2020

    Bikesh Lakhmichand, founder and CEO of 1337 Ventures, a technology accelerator and venture capital firm, concurs with Lockman and Andreou that 2019 has been an exciting year for ECF. Both these major developments (exits being materialised and the announcement made regarding the MyCIF), he believes, will help catalyse the ECF scene and attract more investors.

    “Although the number of deals listed and successfully almost doubled in 2019, the total funds raised amount decreased by about 20%. However, we believe that 2019 has been a great year for ECF as we’ve seen the first exits in ECF – not just one, but three!” he points out.

    Lakhmichand also believes that the ECF scene has matured significantly since its early days. What’s more, the idea of ECF as a source of alternative funding has gained significant traction. In fact, to some companies, ECF is more preferable compared to traditional financial institutions, he claims.

    “The scene is slowly shifting towards becoming a more mature market. Insights from 2019 show that issuers are becoming more realistic with start-ups providing more realistic valuations,” he notes, adding that investors are becoming smarter too, and are becoming more adept at sniffing out bad deals and are investing in deals that make sense to them.

    “All in all, we believe that 2019 has been a great year in setting the tone for 2020. 2019 has helped legitimise equity crowdfunding via the first three exits with lucrative returns and the government’s MyCIF initiative.

    “Furthermore, through the new issuers each with its own forte and focus, we believe that the ECF scene is set to grow exponentially in 2020,” Lakhmichand adds.

    More players entering industry

    On the P2P financing front, Fundaztic director and CEO Kristine Ng expects the industry to grow at an even faster pace as more players enter the industry, targeting different segments of MSMEs and different facilities that are made available to more MSMEs.

    “We will see the introduction of insurance premium financing, asset-backed financing as well as more options of invoice financing,” says Ng.

    “For Fundaztic, we will continue to focus on the same segments that we have been focusing on for the last two-and-a-half years and these are the micro, small and new businesses.

    “Despite the fact that we have helped more than 800 MSMEs obtain funds (we would likely end the year helping more than 1,000 MSMEs), the market is huge, and we are only reaching a small portion of this segment, which makes up 80% of the total MSMEs base in the country,” she adds.

    On the RM50 mil allotment announced under Budget 2020, Ng opines that the MyCIF is a helpful boost to the industry and all parties involved. “For MSMEs, through the MyCIF, the likelihood of their hosted Note receiving at least minimal funding goal is higher, and many would enjoy receiving funds faster.”

    For instance, since the deployment of the first batch of MyCIF in September, for Fundaztic, the average speed to full funding goal has dropped by two days for the higher-risk Notes that will otherwise only be able to receive minimum funding of 80% or full funding by Day 10. For investors, MyCIF serves as a boost of confidence for the future and strength of the P2P financing industry and that it is a ‘legitimate’ and ‘legalised’ investment vehicle.

    “The first six P2P financing platforms were announced during the time when Bank Negara Malaysia (BNM) was clamping down on the illegal money game operators and many were sceptical as to whether P2P is the same,” Ng recalls.

    “With the government co-investing with them, investors would have a better peace of mind and we do see an increase in investors since the announcement.”

    Source: SC

    As for the platforms, the MyCIF is a timely boost to help spur growth and drive awareness, trust as well as acceptance. “In fact, in the long run, it is forecasted that the funds will be self-replenishing through the interest returns and therefore, enhance access to funding and close the funding gaps – or at least for the viable MSMEs that are hosted by the platforms,” Ng explains.

    The only way is up

    microLEAP PLT chief executive officer Tunku Danny Nasaifuddin Mudzaffar says the approvals given by the SC for five new P2P operators in May 2019 is a testament to the confidence the regulator has in P2P financing, both as an alternative investment tool and also an alternative financing tool.

    “From microfinancing – such as what we do at microLEAP – to asset financing to supply chain financing to insured trade invoice financing and lastly, to insured premium financing, P2P investors have never had such diversified and wide-ranging products for investment such as now,” he discloses.

    “The Malaysian P2P financing sector has grown in leaps and bounds. From total aggregate financing of RM37 million in 2017 to RM213 million in 2018 and then to RM587 million in September 2019, this stellar growth will only continue,” foresees Tunku Danny. As to the market outlook for 2020 for the P2P financing sector, there is only one direction for the sector, and that is up, he says.

    With further education and awareness, which all P2P operators are carrying out in their own capacity, alongside nationwide roadshows and events organised by the SC, the triple-digit growth the sector is experiencing is expected to continue.

    “What I foresee really growing in a big way are Shariah-compliant investment notes. For a country such as Malaysia being a leader in the Islamic capital markets, we can definitely do much better in our disbursement of P2P Islamic financing,” explains Tunku Danny.

    “In fact, microLEAP has just been given our Shariah Pronouncement for us to host Islamic investment notes and we hope to be given the green-light by the SC to ‘Go-Live’ with our Islamic product by the end of 2019,” he reveals.

    Helping Ordinary People Access Cryptocurrencies

    Luno is the latest of the three recognised market operators (RMOs) approved to establish and operate a digital asset exchange or DAX in Malaysia.

    With the full approval from the Securities Commission Malaysia (SC), the company is poised to help ordinary people access cryptocurrencies with their local currency, by making it easy to safely buy, sell and learn about Bitcoin and Ethereum.

    “We believe that cryptocurrencies are a new technology that holds a lot of promise and hope to be able to upgrade the world to a new and improved financial system,” says Luno Malaysia events & community associate Arif Lee.

    Lee says the cryptocurrency sector in Malaysia is still at its early stages, and with regulation coming into the picture, the sector will only further develop as it legitimises the asset class among investors and consumers alike.

    “Undoubtedly, regulations will bring clarity and much-needed protection to consumers by ensuring all legitimate cryptocurrency businesses have adequate standards in place to protect investors and their funds,” Lee says.

    On what investors can expect from the cryptocurrency sector in 2020, Lee reveals there are some indications the SC will allow Initial Coin Offerings (ICOs) in the country, as they have sought public feedback on a proposed ICO framework in March 2019, which could add a totally new dynamic to the cryptocurrency sector.

    “We applaud and support the SC’s efforts because many ICOs have turned out to be scams as they are not structured and those involved focus their efforts on the ‘raising money’ part, rather than use cases, a strong internal team and technological advancements.

    “For Luno, we intend to onboard additional coins as we continue to grow. However, any cryptocurrencies that we intend to add will first have to go through the SC’s approval.”

    London-based Luno is one of the world’s leading cryptocurrency companies with a team of over 300 technology and finance experts, with more than three million customers operating across 40 countries on three continents.