The Executives

The Exchange Asia recently spoke with The University of Manchester South East Asia for an exclusive interview with Andrew Jones, an executive coach with over 13 years of experience guiding professionals across Malaysia, Singapore, and other global markets,  Jones shared valuable insights on the causes of career stagnation, strategies for career growth, and ways to future-proof careers in rapidly evolving industries. Cultural and Societal Factors in Career Stagnation Jones emphasised that career stagnation is not unique to Malaysia or Singapore but is a global issue. He believes that focusing on cultural or societal factors as the primary cause of professional deceleration can be a distraction. Instead, he noted that stagnation often arises when individuals fail to challenge themselves or when systems don’t foster growth. “Stagnation is often due to individuals not challenging themselves or systems that don’t foster growth,” he explained. Developing Self-Awareness: The Key to Career Growth For Jones, self-awareness is the first step in overcoming career stagnation. He advised professionals to engage in reflective practice—taking time to critically evaluate their achievements, challenges, and job satisfaction levels. While tools like psychometric tests are useful, Jones highlighted that live conversations provide deeper insights. “Real-time feedback fosters trust, transparency, and accountability—qualities that sterile assessments cannot replicate,” he said. Strategic Career Planning: A Roadmap for Long-Term Success Strategic career planning is essential for avoiding stagnation and ensuring continuous professional growth. According to Jones, professionals should outline both short-term decisions, such as skill acquisition, and long-term ambitions, like entering leadership roles. He added, “Strategic career planning should begin early in one’s professional journey, allowing career pivots, skill-building, and networking to align with long-term goals.” He also noted that even mid-career professionals can benefit from reassessing and updating their career strategies. Future-Proofing Careers in Technology and Finance As industries like technology and finance continue to evolve, Jones advised professionals in Malaysia and Singapore to focus on three key areas to remain competitive: Continuous Learning: Embrace lifelong learning through executive education, online courses, or certifications in emerging technologies such as AI, data analytics, and blockchain. Adaptability: Be open to lateral moves or cross-functional projects to diversify skills and gain exposure to different areas of business. Networking and Mentorship: Build strong networks both within and outside of one’s industry to stay aware of new opportunities. Mentors can also offer valuable insights into future industry shifts. Overcoming Mid-Career Stagnation For mid-career professionals facing stagnation, Jones recommended leveraging networking, mentorship, and further education. “Mid-career professionals should focus on expanding their networks to include not only peers but also senior leaders and industry disruptors,” he said. He also suggested engaging with mentors who have navigated similar challenges to gain strategic insights and advice. Further education, such as pursuing an MBA or executive programmes, can also provide the knowledge necessary for career advancement. Identifying High-Growth Sectors in Malaysia and Singapore Jones identified sectors such as technology, finance, healthcare, and renewable energy as areas offering strong growth opportunities. These industries, he noted, are characterised by rapid business cycles, which often create new job roles and leadership opportunities. He also highlighted that “the rapid digitisation of business operations across the region” will continue to drive career growth in the technology sector and industries that digitise quickly. Navigating External Challenges in a Stagnant Job Market When faced with a stagnant job market or industry-specific barriers, Jones recommended a multifaceted approach: Network Beyond Your Industry: Look beyond your immediate sector to find opportunities in adjacent industries where your skills may be in demand. Diversify Skillsets: Professionals with transferable skills will be better positioned to seize opportunities, even in difficult times. Explore Lateral Moves: If upward mobility is limited, consider lateral moves within your organisation to gain new challenges and learning opportunities. Staying Competitive Amid AI and Digital Transformation With the rise of AI and digital transformation, Jones advised professionals to invest in digital skills, particularly in areas like AI, data science, and digital tools. He also emphasised the importance of human-centric skills, such as leadership and emotional intelligence, which remain crucial despite automation. “Leadership, emotional intelligence, and strategic thinking remain crucial human-centric skills,” he stated. Staying informed about industry trends and technological advancements will also allow professionals to adapt and remain competitive. In conclusion, Jones stressed the importance of personal responsibility, adaptability, and continuous learning in navigating the modern career landscape. He encouraged professionals to stay proactive, embrace change, and pursue growth to thrive in an ever-evolving world of work. For professionals in Malaysia and Singapore, his advice offers a roadmap to overcoming stagnation and seizing emerging opportunities.

As the global economy gradually recovers from the disruptions of the COVID-19 pandemic, Malaysia’s property market is undergoing a significant transformation. Virata Gamany, Executive Director of CSI PROP, remarks that “the current climate presents both challenges and opportunities for investors and developers in Malaysia.”   In the past decade, Malaysia has experienced an average annual capital growth of 4%. By comparison, property values in the UK have surged by about 70% during the same period, with Manchester leading the charge at 83%. “London, however, has underperformed in the last five years, showing only 1–2% annual growth,” Gamany observes, highlighting the stark disparities within the UK market. Local Market Realities Malaysia’s property market is grappling with high vacancy rates, particularly in Kuala Lumpur, where it stands at approximately 14%. Gamany explains, “Economically, a vacancy rate of 5–7% is considered balanced. For context, Singapore’s rate is around 6–7%, while the UK boasts a remarkably tight market with vacancy rates below 2%.” The tightness in the UK market underscores robust demand. “In Manchester, a single apartment can attract up to 21 applicants,” says Gamany, referencing property managers who have shared this data. This demand contrasts sharply with Malaysia, where, according to The Sun, 1.9 million residential units remain unoccupied. “To put it in perspective,” Gamany notes, “Greater Kuala Lumpur, with a population of roughly 2 million, has almost as many vacant properties as people—creating a ghost town effect in some areas.” In contrast, the UK faces a housing shortage of about 4 million homes. Even with a target of building 300,000 homes annually, the shortfall is expected to persist for at least 13 years. “This supply gap gives investors confidence that prices will continue to rise,” Gamany explains, citing research from Oxford Economics. Shifting Investment Approaches The current property landscape demands a reassessment of investment strategies. “Flipping properties is no longer a viable option,” Gamany cautions. “Anyone who has tried to flip properties in the past seven to eight years would struggle now. That window closed long ago.” Meanwhile, the UK’s housing shortage has propelled property prices upward. “Cities like Manchester have seen prices soar by over 80% in the last decade, driven by a shortage of about 200,000 homes,” he states. Manchester, the UK’s second-largest city, has experienced annual price growth of 8%, significantly outpacing London’s modest 2% growth over the same period. Smart Investment Strategies with CSI PROP At CSI PROP, Gamany underscores the importance of informed decision-making. “We guide our clients to make strategic investments and conduct masterclasses to help them identify opportunities for maximising returns,” he shares. “The key is to view property as an investment asset, not an emotional purchase.” He also highlights differences in planning and construction processes between Malaysia and the UK. “In Malaysia, building approvals can be expedited with the right connections, leading to high-rise developments in unsuitable locations. In contrast, the UK operates under stringent regulations, where local councils wield considerable influence through the Town and Country Planning Act.” A Positive Outlook Despite its challenges, Malaysia’s property market holds promise. Gamany is optimistic about leveraging the country’s strengths in affordable housing, innovative development, and sustainability. “By capitalising on these strengths, Malaysia can position itself as a competitive player in the regional property landscape,” he concludes. As Malaysia navigates these changes, the insights and strategies shared by leaders like Virata Gamany and CSI PROP will play a critical role in shaping a resilient and prosperous property market. For more info , visit https://csiprop.com/

The Exchange Asia sat down with Petrina Goh, Founder and CEO of Nuren Group, to discuss the journey behind one of Southeast Asia’s fastest-growing parenting tech platforms. From early challenges to future expansion plans, Goh shared the strategies that have propelled Nuren Group to the forefront of parenting technology. Overcoming Foundational Challenges Establishing a leading parenting platform in a culturally diverse region like Southeast Asia presented several hurdles. “When founding Nuren Group, we encountered several key challenges,” Goh recalls. Understanding the specific needs of parents and expecting mothers was particularly challenging in the early stages. Nuren Group addressed this by conducting “extensive market research and surveys” and assembling a team with strong expertise in parenting and maternity health. Securing initial funding was another major hurdle. “We managed this by bootstrapping to develop a minimum viable product (MVP) and then pitching to investors, highlighting our unique value proposition,” Goh explains. Additionally, building credibility with limited resources required strategic partnerships with reputable brands, hospitals, and influencers. These efforts helped Nuren establish itself as a trusted leader in the parenting technology sector. A Mission-Driven Strategy At the core of Nuren’s strategy is a user-centric mission: “to build an innovative, data and AI-driven platform that delivers sustainable quality healthcare and education.” Goh highlights how this mission aligns closely with the business model, which focuses on user-centric innovation and community building. “Our mission ensures that our platform evolves to meet the specific needs and preferences of our community,” she says. By prioritizing inclusivity, transparency, and continuous improvement, Nuren has created a supportive ecosystem where women and children can thrive. Standing Out from Competitors Nuren differentiates itself through a unique combination of comprehensive parenting solutions, user-friendly design, and strong community engagement. “We provide integrated solutions for parenting and maternity wellness, covering everything from education to e-commerce,” Goh explains. A seamless, intuitive platform design, combined with personalized and community-driven content, has set Nuren apart from competitors. Maintaining this competitive edge requires constant innovation. “Continuous innovation is at the forefront, with regular updates and enhancements to our platform features,” Goh says. Partnerships with industry leaders in parenting further add credibility and help sustain the platform’s relevance. Scaling with Strategy: User Growth and Revenue Diversification With over 5 million active users across its platforms, Nuren Group has built a highly engaged community. “Membership programs and clubs have been particularly successful, offering workshops and exclusive kits such as new mum kits and superkids kits to reward and engage our members,” Goh says. Content marketing, featuring high-quality, medically reviewed articles, and active social media engagement have also been instrumental in attracting and retaining users. Revenue-wise, Nuren has focused on advertising and e-commerce but is actively exploring diversification. “We plan to introduce financial services, such as wallet and financial solutions, to provide added value to our users,” Goh shares. This diversification strategy reflects Nuren’s commitment to meeting the evolving needs of its user base while unlocking new growth opportunities. Staying Ahead of Parenting Tech Trends Nuren Group leverages key trends in the parenting tech space, including AI-driven personalization. “The use of AI to provide personalised content and recommendations is becoming increasingly prevalent,” Goh notes, allowing Nuren to deliver customized insights and support. Community-building has also become central to the platform, creating “a supportive and engaging community” where parents can find trusted advice and connect with peers. Events like the Motherhood Baby Fest have also been key to building brand loyalty, offering members access to exclusive discounts on leading maternity and baby products. “Events such as baby fairs, including the Motherhood Baby Fest, are gaining popularity,” Goh highlights, pointing out how they provide tangible benefits and build strong connections within the community. Tapping Southeast Asia’s Growing Parenting Market The Southeast Asian parenting and maternity wellness sector is valued at approximately USD 7 billion and is growing steadily, with a projected CAGR of 8-10%. “The growth potential in this sector remains robust, fueled by rising awareness and demand for parenting and maternity wellness solutions,” says Goh. To tap into this market, Nuren has emphasized localization and tailored its offerings to regional preferences, ensuring relevance across diverse communities. Innovating with AI and Financial Services Nuren Group’s AI-driven personalization enhances user experience and operational efficiency. “Our AI-driven personalisation capabilities allow us to offer tailored content and recommendations based on individual user preferences and behaviours,” Goh explains. Chatbots, predictive analytics, and a new wallet feature within the Motherhood SuperApp are among the technologies driving Nuren’s innovative approach. Goh points out that the decision to add financial services was largely in response to user feedback, with “8 out of 10 users requesting integrated financial services.” The new wallet feature is designed to streamline transactions, increase security, and offer exclusive perks, adding convenience and value for users. Committed to Sustainability and Social Responsibility Sustainability and social impact are at the heart of Nuren’s mission. “We focus on supporting women’s livelihoods by providing resources and opportunities for women entrepreneurs, female gig workers, and stay-at-home mothers,” says Goh. Nuren partners with eco-friendly brands, adopts green technologies, and encourages responsible practices to minimize its environmental impact. By supporting women’s economic empowerment and community welfare, Nuren Group is making a lasting, positive impact. A Successful IPO and Future Growth Plans Nuren Group’s IPO on the National Stock Exchange (NSX) raised AUD 700,000, providing “a substantial financial boost” that has accelerated growth initiatives. “The additional capital has enabled us to enter new markets both within and beyond Southeast Asia,” Goh says. With resources to invest in product development and partnerships, Nuren is well-positioned to expand its reach while staying at the forefront of industry trends. Future Expansion and Advocacy for Women in Tech Over the next 3-5 years, Nuren Group plans to expand into high-growth markets across Asia and beyond. “We are targeting regions with significant potential for growth in the parenting and maternity sector,” Goh shares. In addition, Nuren will continue to innovate its product and service offerings, enhancing the platform’s value for users. As a female leader in tech, Goh advocates

https://www.youtube.com/watch?v=HN8lXC3JZd0&list=PLXNUnD-w9bUm9YmvkhNEnRGeat3fkPI73&index=3 For more than three decades, Dato’ David Gurupatham has not only been a skilled lawyer but also a dedicated advocate for Malaysian businesses and underrepresented communities. From humble beginnings to leading high-stakes initiatives, his career exemplifies a commitment to public service, legal reform, and social impact. He sat down with The Exchange Asia at Le Mirch for an exclusive interview to share insights into his remarkable journey. “I knew from a young age that I wanted to make a difference,” says Dato’ David. “Growing up in a middle-class family and attending public schools, I felt a responsibility to help those who couldn’t always stand up for themselves.” This early drive led him to law, and in 1992, he was called to the bar in England. Since then, he has spent over 30 years building a career marked by both resilience and social consciousness.    Early in his career, Dato’ David worked on reforming legal aid in Selangor, where he chaired the Selangor Bar Committee’s Legal Aid Committee for five years. His efforts with the Bar Council’s Legal Aid Committee in the late 1990s and early 2000s helped establish critical programs that continue to benefit the public today. “That work was immensely fulfilling and set the tone for my career,” he reflects.  Leading Through Crisis The COVID-19 pandemic was a defining period in Dato’ David’s career. As a legal advisor to many business groups and trade associations, he witnessed the devastation as lockdowns and unclear regulations upended businesses and livelihoods. “People were losing jobs, businesses were shutting down, and uncertainty was everywhere,” he says. “I felt I had to do something.”  In response, he formed a lobbying group to advocate for business rights called “Industries Unite”. “Initially, we had just 18 trade associations, but we eventually grew to represent 120 associations and 3.3 million businesses,” he recalls. “Working with the government, our members helped create SOPs to allow some industries to reopen safely.” Through targeted efforts, his team’s work enabled sectors like hairdressers, the Food & Beverages sector amongst others to resume operations, helping countless Malaysians return to work.  The initiative drew national attention, it even influenced the government to reduce the unreasonably high fines that were tagged with non-compliance to the COVID SOP’s – underscoring the impact of his advocacy. “This period reinforced my dedication to serving the public and advocating for those without a voice, whether individuals or businesses,” he states.  The Project Satu Hati Initiative  The pandemic also spotlighted food insecurity in society. Many were without jobs and without food. Inspired by the community-driven “White Flag” movement, Dato’ David collaborated with restaurants on a “Pay It Forward” program that fed thousands of vulnerable people every day. “We managed to serve 3,000–5,000 hot meals daily to low-income families and individuals,” he explains  Known as Project Satu Hati, the initiative rallied people from diverse backgrounds and reinforced the importance of community. “It was a reminder that, even when government support falls short, communities can come together to make a meaningful impact,” says Dato’ David.  Building a Visionary Law Firm  Dato’ David’s career also saw him take a path less travelled in Malaysia’s legal landscape. After only a few years of experience, he took a bold step of founding his own firm in 1997. “I had handled some landmark cases that gave me confidence; and to also do more” he says. “So, I decided to strike out on my own, starting with just myself and a clerk in a small office above a motorcycle shop.”  The firm grew steadily, now boasting offices in Malaysia and China with plans for expansion across Southeast Asia. Reflecting on his growth strategy, he notes, “Business demands constant evolution to stay competitive. We adapted and expanded whenever opportunities arose.” Part of his success, he believes, stemmed from investing in young lawyers who brought fresh perspectives and energy to the firm. “Betting on young talent was the right choice. Today, we offer a wide range of services, including conveyancing, banking, and corporate advisory.”  A strong believer in meritocracy, Dato’ David advocates for rewarding dedication and talent. “One of our youngest lawyers made a partner in three years, which is rare in our industry. If someone produces results, they’re rewarded. But I also respect that not everyone wants major responsibilities—some want a balanced approach to life, and that’s fine too.”  However, Dato’ David is also a firm believer in a “no breaks given” approach as a leader, emphasizing that one must work hard and hustle to achieve their goals. “Nobody gave me a break,” he asserts.  Like Harvey Specter, but with Heart   When asked about his leadership style, Dato’ David acknowledges he has always prioritised professionalism and authenticity. “You can’t underestimate the value of a strong first impression,” he says, referencing Suits character Harvey Specter as an influence. “Even when I was in a small office above a bicycle shop, I carried a ‘Harvey Specter’ mindset, projecting confidence and commitment.”  Yet his approach goes beyond appearances. He emphasises that true leadership involves building trust and fostering purpose. “Leadership isn’t just about technical abilities—it’s about character and caring for others. I want clients to walk out of my office feeling reassured, confident, and calm,” he explains. “Once you earn trust, it often becomes a lasting relationship.”  The “Tea Lady” and Constant Reminders of Compassion  We asked Dato’ David to share one of his most memorable cases through his career, one that had thought him an unforgettable lesson – Dato’ David softly replied, “It was a Tea Lady”. One of Dato’ David’s most defining cases involved an elderly tea lady who was dismissed after decades of service without compensation. He recalls, “She came to me with nowhere else to turn. Employment law wasn’t my specialty, but I couldn’t ignore her case.”  Taking on her case pro bono, he faced formidable opposition from one of the country’s largest law firms, yet ultimately secured a fair settlement for her. “That case remains one of the most rewarding of my life,” he says.

In the ever-changing landscape of entrepreneurship, SMEs face unique challenges as they strive for growth and sustainability. RichWorks International, known for its comprehensive mentoring programs, has played a pivotal role in helping small and medium enterprises (SMEs) across Southeast Asia overcome these challenges, scale operations, and achieve notable milestones. Through tailored approaches in mentorship, digital strategy, and brand development, RichWorks has equipped businesses with the tools to reach new heights. Here’s a closer look at how their programs are transforming the business landscape. Success Stories: The Journey to RM1 Million and Beyond The Spire Mentoring Program, launched by RichWorks in 2018, exemplifies the company’s commitment to guiding entrepreneurs through their initial growth phases. Since its inception, the program has helped 391 entrepreneurs reach their first RM1 million in sales. An inspiring example is Adibah Mazlan, the founder of The Raw., a local skincare brand. Adibah, a registered pharmacist, ventured into entrepreneurship in 2019 but faced initial struggles, including three months without sales. Her breakthrough came after joining the 10X Bina Bisnes Berjaya Program and subsequently, the Spire Mentoring Program. Within three months, her revenue skyrocketed to RM500,000, a significant leap from her previous monthly sales of RM30,000. After seven months, The Raw. achieved RM1 million in sales, propelling Adibah to focus solely on her business, which hit RM16.8 million in sales by 2023. Now a Titan Circle Plus++ member and Gladiator at RichWorks, Adibah’s story highlights the transformative power of mentorship. “I hold weekly sessions with our Titanium members, ensuring they stay refocused and aware of the latest market trends, consumer behavior, and emerging opportunities. These sessions are crucial in helping entrepreneurs understand the shifting landscape and the challenges they must be prepared for,” explained Datuk Wira Dr. Azizan Osman, Founder and Mentor of RichWorks.  Scaling Up: Strategies for the Next Wave of Titanium Entrepreneurs To help entrepreneurs scale from RM1 million to RM10 million in annual sales, RichWorks emphasizes strategies that go beyond foundational business practices. The Titanium Program is designed to equip high-growth SMEs with the tools for scaling, systemization, and leadership development. These strategies include: Systemization and Efficiency: Entrepreneurs are trained to build scalable systems that manage operational complexities and optimize supply chains. This enables them to focus on growth rather than being consumed by daily operations. Data-Driven Decision Making: Tracking key performance indicators (KPIs) and using data analytics ensures that decisions are based on facts, not intuition. Leadership Development: RichWorks mentors emphasize building high-performance teams, effective delegation, and nurturing a growth-oriented culture, vital for sustainable scaling. “Our mentorship equips SMEs with a real-time understanding of what’s happening in the market. During the pandemic, we guided businesses to pivot their strategies to digital marketing and e-commerce, resulting in significant growth for many members,” Dr. Azizan highlighted.  Addressing Current Challenges: Economic Conditions and Solutions SMEs in Southeast Asia are navigating significant challenges, including economic uncertainty, shifting consumer behavior, and digital competition. RichWorks’ tailored strategies help SMEs adapt and thrive amidst these difficulties: Economic Uncertainty: RichWorks teaches SMEs financial resilience by focusing on cash flow management, cost control, and creating financial buffers. Shifting Consumer Behavior: To respond to increased online purchasing and the demand for personalized experiences, RichWorks supports SMEs in enhancing their digital presence and leveraging e-commerce. Intensified Digital Competition: Mentorship programs cover cost-effective digital marketing, social media optimization, and automation tools to help SMEs compete against larger players. “These real-time insights, coupled with strategic execution, allow SMEs to anticipate market shifts, capitalize on emerging trends, and stay competitive in an ever-changing business environment,” Dr. Azizan explained.  Digital Marketing Strategy Development RichWorks’ structured approach to digital marketing involves assessing an SME’s current capabilities and crafting a tailored plan that includes: CRM Systems: Essential for managing customer data and segmentation. Email Marketing: Maintains customer engagement and builds loyalty. Platform Prioritization: Based on the target market, RichWorks advises on optimizing presence across social media, e-commerce sites, and digital ad platforms like Facebook, Instagram, Google Ads, and TikTok. “Once we understand their level of digital marketing maturity, we prioritize tools and platforms that suit their needs, focusing on areas such as email marketing and CRM systems to boost engagement and loyalty,” said Dr. Azizan. Transforming Brands: Case Studies of Sabella and Nurraysa RichWorks has guided several businesses to redefine their brand positioning for substantial growth: Sabella: Known for its product quality, Sabella amplified its brand visibility through a multi-channel strategy, including digital marketing, influencer partnerships, and sponsorships like AJL35. This broadened their reach and solidified their position in the market. Nurraysa: Initially focused on zero-cost social media marketing, Nurraysa expanded into paid advertising under RichWorks’ mentorship, boosting its brand presence in the beauty market. “Our mentorship helped these businesses understand when and where to invest in branding, moving beyond free marketing methods and leveraging paid media strategically to achieve significant growth and market presence,” Dr. Azizan said.  A Standout Success: The Raw.’s Transformative Journey A notable transformation story is that of The Raw., which grew from RM30,000 in monthly sales to over RM10 million in annual revenue. This shift was fueled by a strategic combination of radio advertising, billboard placements, and sponsoring high-profile events like the TikTok Awards Malaysia 2024. These moves reinforced brand credibility and resonated with a younger, tech-savvy audience, positioning The Raw. as a leader in the skincare industry. “We guided The Raw. to invest in radio commercials and strategic billboard placements, helping them establish credibility and become a top-of-mind brand for consumers,” Dr. Azizan reflected. A Pathway to Sustainable Growth RichWorks’ mentorship programs and strategic guidance have empowered hundreds of SMEs to navigate the complexities of growth and adapt to an evolving market landscape. Through targeted mentoring, practical strategies, and data-driven insights, RichWorks enables businesses to monitor market shifts, scale operations, and build strong brand identities that lead to sustainable success. “Our approach is about more than just guidance; it’s about ensuring SMEs build the confidence to pivot, grow, and compete with resilience,” concluded Dr. Azizan.

In recent years, the world has been jumping on the renewable energy (RE) bandwagon, with more people adopting sustainable practices in multiple aspects of their businesses and lives. So far, the most common type of renewable green energy (RE) has been solar energy, as it is known to be the cleanest and most abundant RE source.  However, certain countries are already taking the next step in developing a more sustainable, cleaner energy that could also be easily accessible and affordable: hydrogen.  Back in October 2023, the Malaysian government launched its Hydrogen Energy and Technology Roadmap (HETR) which outlines initiatives to strategically position the country in the centre of the global hydrogen ecosystem.  As highlighted in the HETR, Prime Minister Datuk Seri Anwar Ibrahim said that hydrogen has a huge potential to be the cornerstone for new energy and economic driver for Malaysia and that developing this potential requires investment in hydrogen technologies to promote domestic consumption, ensure generation stability, provide security of affordable energy, sustain international energy trading, and decarbonise emissions.  “I am delighted that the Ministry of Science, Technology and Innovation (MOSTI) created the HETR to guide the development of Malaysia’s hydrogen economy (and) pave the way to achieving environmentally sustainable, long-term energy security for Malaysia, driven by technological innovation,” he said.  Anwar added that the roadmap provides a clear deployment pathway to scale up hydrogen economy and technology to drive both supply and demand, simultaneously.  “We need to invest in new infrastructure to develop and distribute hydrogen to expand its economy of scale, as well as in new technologies and cultivating talents,” he continued.  Echoing this sentiment, MOSTI Minister Chang Lih Kang expressed the government’s intention to position Malaysia as a global leader in the emerging hydrogen economy by 2050, leading the ASEAN region and establishing a robust presence in the hydrogen to the Asia Pacific region, thereby promoting energy security, affordability and sustainability to the country.  “I believe that hydro is the way forward. Even now, globally, there are quite a number of countries that have already started in developing their hydrogen economy. Given our advantage in green hydrogen production, we’re also looking to become the regional leader in this very attractive and lucrative hydrogen economy.  “Other countries such as Japan in 2017, Australia in 2019 and Singapore in 2022, have launched their national hydrogen strategies in recent years, so it was timely for Malaysia to do the same,” Chang said in an exclusive interview with The Exchange Asia.  According to Chang, the global green hydrogen market is projected to reach a staggering US$189.19 billion by 2050, with Asia Pacific accounting for 43% of this market, followed by ASEAN with 13%, and Malaysia at 2%.  By tapping into this market, Malaysia has the potential to generate revenues estimated to be worth at least RM905 billion by 2050, under what is known as the Emission Driven Scenario (EDS) that comes with interventions through the introduction of hydrogen in the economy and has decarbonisation targets of 5%-10% greenhouse gas emission (GHG) reduction.  Chang also revealed that Sarawak has been taking the lead in driving Malaysia’s hydrogen economy forward through smart joint ventures and project investments, as the state already has access to low-cost renewable electricity from hydropower.  “Similar to other types of technology, during the initial stages, everything is about costs, and it can get a bit expensive to develop and implement. However, looking at the progress of (hydrogen) technology, eventually, we will come to a point where we can reach the level of feasibility in the ecosystem.  “If we look at other countries’ experiences, we can already witness successful case studies and examples to show that hydro tech really works wonders as an alternative clean fuel. Not only in mobility but also in other heavy industries that would utilise large amounts of energy,” Chang elaborated.  Achieving HETR’s ‘Ambitious Target’  By implementing the initiatives outlined in the HETR, the government is expecting to generate about RM12.1 billion in national revenue by 2030 through a ‘Build Some, Buy Some’ concept where certain available technologies are demonstrated, scaled-up and deployed first (Build Some) and complementary external technologies are to be procured (Buy Some).  This concept is also crucial in achieving low hydrogen generation costs in the global market for the development of a complete economic ecosystem.  “Under EDS, the HETR projects that RM12.1 billion in revenue will be generated from using hydrogen in industrial sectors, specifically non-energy and heat applications.  “By 2030, the use of hydrogen is expected to be up to 32.297 TWh (Tera Natt-hours) in non-energy applications, followed by up to 1.068 TWh for industrial heat boilers. This will also result in a projected 1.3% GHG reduction by 2030. Additionally, the cost of green hydrogen, from water through RE (solar, hydropower, etc) or bio-based feedstocks, will be between US$1.35-4.82 per kg by 2030,” Chang explained.  He continued by saying that Sarawak has already established 2 hydrogen production plants, with expectations of exporting 240,000 tonnes of hydrogen to Japan and Korea by 2028.  According to Chang, there are various other initiatives that the government is currently discussing with industry players in Borneo and the Peninsular in terms of production, storage and tech adoption.  “Because we already started on the hydrogen initiative before the roadmap was even launched, selected industry players are already in the market, but we are looking at how to further reduce the cost of production and distribution,” he said, adding that the level of adoption is crucial in making these initiatives a success.  Chang stated that the government plays an important role in educating and enlightening the public on the feasibility of hydrogen utilisation, which is the first phase of the HETR.  For this, the National Nanotechnology Centre (NNC), a division under MOSTI, is the ministry’s focal point for leading and implementing hydrogen initiatives.  Recently, the NNC hosted the National HETR Steering Committee Meeting on 25 July 2024, to which the committee is responsible for ensuring the planning and implementation of the HETR to ensure that