Enterprise Explores BFM Media

AI in business cybersecurity is a never ending arms race, digitalisation is outpacing cybersecurity capabilities and capacities, and even when businesses have incident response plans, most employees don't know what it is. All this and much more as Enterprise Explores why data readiness and cyber resiliency matters for your business.

As AI solutions and cloud adoption accelerates as data grows at an unprecedented rate, Enterprise Explores the state of Data Readiness and Cyber Resiliency in ASEAN and the increasingly complex data and cyber environments with Michel Borst, Asia Vice President, at Commvault.

According to a Commvault study done in partnership with Tech Research Asia (TRA), ASEAN companies’ data estates grew 31% on average in the last 12 months. Of that growth, their analysis suggests 60% was unstructured data, requiring significantly more management to be optimised and transformed into value.

This data and infrastructure sprawl also contributes to dark data (i.e. data that is created and unmanaged or sits outside of the businesses’ scope of management control and/or visibility).

The study found 91% of companies have challenges managing dark data. As companies face unrelenting and sophisticated cyber attacks, many companies consider they have ineffective data recovery and cyber resiliency capabilities.
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“I think we’re getting past the luxury of just being against things”, Penta's Rory O'Donnell on global food security.

Farmers' protests in Europe are reshaping the political landscape as the European Parliament elections approach, with the protest highlighting a frustration among European farmers as they navigate tougher competition, rising production costs, and concerns over the environmental impacts of initiatives like the Green Deal strategy.

With that in mind, today we delve into the intricate world of European agriculture, exploring the evolving landscape of agricultural policies within the EU, their global ramifications, food security, and lessons that Asia can learn from Europe and vice versa. Joining us is Rory O'Donnell, Managing Director of International Agriculture, Food, and Trade at Penta, who brings over three decades of experience in the UK Civil Service and a deep understanding of EU affairs.
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RM500,000 penalties, Director and Management liability, and assessing Work-From-Home risks that employers could be responsible for.

If you haven’t heard about the incoming changes for Occupational Health and Safety in Malaysia, it’s time to push the panic button because ignorance is not a defence from the potential penalties of up to RM500,000. Learn about the implications, consequences, and what workplaces need to do ASAP in this edition of Enterprise Explores.

We speak with Shannon Rajan and Selvamalar Alagaratnam, Partners at Skrine to discuss the implications of the newly enforced Occupational Safety and Health (OSH) Act (Amendment) 2022. Effective from June 1st, this amendment aims to elevate safety and health standards across workplaces in Malaysia.

We take a look at the significant changes introduced by the amendment, including the mandatory appointment of health safety coordinators in companies with five or more employees and the enhanced requirements for workplace risk analysis.
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Why did EPF restructure its member’s accounts? Can we do recurring transfers from the Flexible Account to the other 2? Why can’t we opt out of the Flexible Account? We get into these and much more in this edition of Enterprise Explores with EPF’s Balqais Yusoff.

Over the weekend, EPF’s new structure took effect bringing into play a new 3rd account known as Akaun Fleksibel. Enterprise Explores the strategy and rationale behind this move, what we should know about these new changes, and how to navigate them, with Balqais Yusoff, the Head of Policy and Strategy Department at The Employees Provident Fund (EPF).

Effective earlier this week, EPF Member accounts have been restructured from the previous two accounts (Account 1 and Account 2) to three accounts with contributions split 3 ways – with 75% going to Akaun Persaraan, 15% into Akaun Sejahtera, and 10% into Akaun Fleksibel.

Account 1 will be effectively known as Akaun Persaraan: This account will accumulate savings specifically for retirement income.

Account 2 will be effectively known as Akaun Sejahtera: EPF has said that this is designed to address members’ life cycle needs during retirement.

And now we have a 3rd account - Akaun Fleksibel: This new account is aimed at providing flexibility for short-term financial needs and savings in this account can be withdrawn as needed.

On top of this, EPF members will have until August 31st to decide whether to opt-in to restructure your existing balance and transfer an initial amount from Account 2 into your Flexible Account. This one-off, initial transfer will be irreversible. Effectively, if you’ve never withdrawn funds from EPF, this move should restructure your EPF savings to follow the new 75:15:10 ratio.

Join us as we dive into the rationale behind this move, what this says about the evolution of EPF’s role in our lives, what we should know about these new changes, and how to navigate them.
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In Malaysia, women entrepreneurs are carving a significant niche, accounting for around 20% of the more than 650,000 entrepreneurs in the small and medium enterprise (SME) sector. Despite their increasing influence on the economic landscape, these women often encounter distinct challenges, especially in accessing crucial funding and financial resources. This gap highlights the urgent need for targeted initiatives that support and empower female business leaders.

To address these obstacles, the community group On The Rise is hosting the Rise Summit, an event specifically focused on enhancing financial literacy, fostering connections with funding partners, and exploring growth strategies for female founders and leaders. The Summit aims to be a transformative platform, offering masterclasses, workshops, and opportunities for direct engagement with investors.

Kate Sarginson, the Founder of On The Rise, underscores the importance of the Rise Summit, emphasising its role in shaping the future of women entrepreneurship in Malaysia and beyond. This event not only aims to level the playing field but also strives to empower women entrepreneurs through education, networking, and direct support, making it an essential milestone for female empowerment in business.
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In a world where companies are staying private for longer, today Enterprise Explores the potential of Share Liquidity Programs and Tokenization to unlock illiquid shares in private companies with Kelvin Lee, CEO of Alta - a Singapore-based marketplace for alternative assets.

Alta recently facilitated the inaugural trade of the first tranche of shares as part of their Income Insurance Share Liquidity Program. The program was established in January by Alta and Phillip Securities to provide a liquidity solution to almost sixteen thousand shareholders holding shares valued at as much as $840 million. On top of that, by enabling access to Phillip Securities to all Income Insurance shareholders to sell their shares, Phillip Securities is able to subsequently sell these shares on AltaX where it becomes available to investors for trading.

Among other things, Kelvin will share insights on how Alta is addressing the opportunities in private markets in a landscape where companies are opting to stay private longer, we'll also discuss the intricacies of tokenization, dive into the value of share liquidity programs, and how these strategies are enhancing liquidity for private securities.
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