Ruben Emir Gnanalingam
CEO, Westports Holdings Bhd
Ruben Emir Gnanalingam, 39, is CEO of Westports Holdings Bhd and Westports Malaysia Sdn Bhd, the 13th busiest port in the world (in 2011).
A graduate of Victoria Institution Kuala Lumpur, Eton College UK and the London School of Economics, Ruben started at the bottom as an intern in 1999, before leaving Westports to start a dot-com incubator and venture capital firm known as The Makmal Group in 2000, whose Makmal Jaya Sdn Bhd was a MSC-status company. He exited this business in mid-2005 before being reappointed to the Westports board in July 2005, where he served as executive director from 2006 to 2010 before being named CEO in early 2009.
Ruben learnt the ropes early from his father, prominent Malaysian businessman Tan Sri G Gnanalingam, executive chairman of Westports Malaysia, who started Westports from a barren, swampy island and turned it into the leading container terminal operator in Port Klang.
Outside his professional engagements, Ruben is a board member of the Kuala Lumpur Business Club Malaysia and is also involved with several business and industry-related groups, including the Harvard Business School Alumni Club Malaysia.
The Edge: What are the changes you hope to see in 2016?
Ruben Emir Gnanalingam: I expect the world to settle down to a new base after all the volatility of 2015. This will hopefully lead to real growth in the years after.
What are your biggest fears for 2016?
That the volatility and uncertainty of 2015 continues, and the world is no better off in 2016.
How would you describe 2016? Do you expect the new year to be worse or more challenging for Malaysia (be it politics or the economy) than 2015?
Thanks to our devalued currency, I believe there will be some positive signs towards exports and also tourism. We were already cheap in comparison to many countries, and just became a lot cheaper in 2015. If the fuel price starts to stabilise, we should also see growth in that sector, which can also fuel the rest of the economy.
What are your biggest takeaways from 2015?
The impact of commodity prices falling all at once by a large amount on the world economy and currencies worldwide too. The fact that some of these price devaluations had little to do with supply and demand is also very interesting.
Malaysia took a blow in terms of news flow in 2015, so much so that it is said that we have a perception problem. How can we win back favour on the global stage?
Probably best by getting back to business and sending out the right positive signals. Perception is drawn from signals. Negative signals lead to negative perception, so let’s keep it positive.
Vivy Sofinas Yusof
Chief creative officer and managing director, FashionValet Sdn Bhd
Vivy Sofinas Yusof, 28, is a mother, model and an up-and-coming online fashion mogul. She runs fashion e-commerce site FashionValet, which she and her husband Fadzarudin Shah Anuar founded from their headquarters in Damansara Heights. The internet is where Vivy Sofinas works her charm — be it through her blog Proudduck, which she started while studying at the London School of Economics seven years ago, or her Instagram account with 356,000 followers. People who connect with her wit, humour and aspirational style helped to turn FashionValet profitable in 2014 (after 3½ years in business) and rake in more than RM10 million in revenue last year alone. That is little wonder, since the dUCk scarves she wears are constantly sold out and bags from FasionValet she’s pictured wearing immediately turn into social media likes, page views and purchases.
The Edge: What are the changes you hope to see in 2016?
Vivy Sofinas Yusof: I hope to see more support for local businesses. We’re seeing more and more new fashion brands, new cafés and new services started this year by young Malaysians. I would love to see these businesses grow to a regional or even global scale. On a more selfish note, I would love to see more people wearing FV in 2016!
What are your biggest fears for 2016?
Quite honestly, the economy. In fashion, we have to work months ahead, and because retail needs heavy capital, it’s always scary to invest so much when you don’t know what’s going to happen. The market used to be very exciting and responsive but 2015 saw a softer market. Hoping that will change.
On a more personal note, I worry about the growing demands, juggling motherhood and career. At work, we are venturing into new markets, collaborating with more partners and taking risks with the regional expansion of FashionValet and the dUCk Group. At home, there are these two angels who are increasingly in need of my attention. It’s going to be a hectic 2016 for me.
How would you describe 2016? Do you expect the new year to be worse or more challenging for Malaysia (be it politics or the economy) than 2015?
My gut feeling tells me it’s going to be worse economically and even the mood in general will continue to be pretty down. More young talents will seek opportunities outside Malaysia (that’s already happening now). This is one of the rare instances I hope I will be wrong.
What are your biggest takeaways from 2015?
That as an entrepreneur, I need to be flexible in my plans. Adaptibility is very important and you need to move quickly to restrategise according to the various market factors. A lot of the plans that FV set out early in the year did not materialise either because the time wasn’t right, the market was soft or better opportunities came along. It’s important to have an energetic team in e-commerce because the industry is very fast and is always changing. Have a plan, of course, but be open-minded enough to change it or put certain things on hold for something better.
Malaysia took a blow in terms of newsflow in 2015, so much so that it is said that we have a perception problem. How can we win back favour on the global stage?
Controversies will always happen, and they bring attention to the country, good or not. People always think Malaysia is the capital of Singapore so I’m pretty sure we have clarified that. The media has a big part to play here to balance the good and bad news and bring more focus to the good of the country. Amid the gloomy perception of Malaysia, good things are happening, too, what with more foreign investments coming into young entrepreneurs’ startups. Have this on the front page instead of the bad things. The media is very powerful and dictates the mood of the people.
Patrick Grove
Co-founder and CEO, Catcha Group
Patrick Grove, 40, started Catcha.com in 1994, but failed to take it public in 2000 when the dot-com bubble burst. The Australian with Malaysian permanent residency was the only Catcha Group founder to stay on and transform Catcha.com from Asia’s Yahoo! search portal to a media and technology group. In November this year, Australian real estate company REA Group Ltd, owned by Rupert Murdoch-controlled News Corp, announced a A$580 million (RM1.8 billion) buyout of iProperty Group Ltd, which is about 17%-owned by Catcha Group. The deal valued iProperty at A$751 million. Other Catcha investments include automobile portal iCar Asia, e-commerce-centric Ensogo Ltd and iFLIX.com, the Netflix-styled internet TV streaming service for Southeast Asia.
The Edge: What are the changes you hope to see in 2016?
Patrick Grove: I truly hope the political situation in Malaysia gets clarity and certainty so the business community can get on with doing great things. There is so much talent and opportunity in Malaysia that investors need to continue supporting [it].
What are your biggest fears for 2016?
A protracted slowdown in the economy and further weakening of the ringgit.
How would you describe 2016? Do you expect the new year to be worse or more challenging for Malaysia (be it politics or the economy) than 2015?
I think it all depends on the political situation. Company leaders and entrepreneurs will always do the best for their companies, but we need a stable environment to operate in.
What are your biggest takeaways from 2015?
When we sold iProperty, I think it put Malaysia on the map as the best place in Asean to build an internet business because it truly is!
Malaysia took a blow in terms of newsflow in 2015, so much so that it is said that we have a perception problem. How can we win back favour on the global stage?
If I had the answer, I would be a politician! I think in the end, corporate leaders and entrepreneurs need to keep singing the praises of Malaysia as a great opportunity and the perfect hub for an Asean business.
Save by subscribing to us for your print and/or digital copy.
P/S: The Edge is also available on Apple's App Store and Android's Google Play.