JF Tech’s founder and MD Datuk Foong Wei Kuong was named EY Entrepreneur of the year 2023 Malaysia at a glittery gala held to celebrate the future of Malaysian entrepreneurship.
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00:00 [Music]
00:18 I'm always impressed and humble and surprised, if I can use those terms, by the stories that we hear.
00:26 A lot of our entrepreneurs have pivoted to be able to address the digital side of the business.
00:34 Because I think, as I said in my speech earlier, the pandemic taught us a few things.
00:39 It taught us that we should not stop recognising entrepreneurship.
00:43 Because entrepreneurs will always find a way, round and through whatever challenges they face.
00:49 So you get organisations who were brick and mortar, who are moving into digital business.
00:54 [Music]
01:11 The biggest challenge is overcoming my own fear, my own self-confidence and all that.
01:20 I have to fight over eight years of challenges, having to overcome legal suits in the US.
01:26 We didn't actually infringe, but the competitors in the US tried to protect their market share.
01:36 They sued us.
01:38 These are two challenges, very big challenges to the company and how to navigate it through.
01:43 How to keep our team together, how to keep everyone looking for new opportunities.
01:49 Finally, we picked the right segment to go.
01:52 We further pursued our areas in 5G and then we looked into the automotive EV sector and we grew from there.
02:00 [Music]
02:21 Basically, continue to do what we are doing and go regional.
02:27 I think finally make Malaysian brand proud.
02:32 I think that is something that we really keep in heart and work really hard towards it.
02:36 I think accessibility is something that is constantly on top of our mind.
02:42 Be it X amount of stores, creating X amount of jobs, making sure that the product is easily accessible to everyone.
02:52 That would mean price point, flavours and what not.
02:55 These are very closely, I mean it has to be relatable to the community.
03:01 Even when it comes to expanding out from Malaysia to Philippines, we've got a store in Philippines right now and we'll have more.
03:08 It's the same for us as well, making sure that products we sell, service that we provide is accessible to everyone and relevant to the community.
03:18 [Music]
03:30 Basically, FACT for Good, the ambition, of course as you mentioned rightly, we are running out of resources.
03:37 So, we got to do more with less.
03:39 So, I think, strongly believe that technology is one of the way to look into environmentally to be sustainable.
03:47 Yet, to produce the food we need from growing population 7 billion to 10 billion in next 30 years.
03:53 As you know, Udang Gala is always associated as a luxury seafood.
03:57 So, next year we're going to really break that mentality to put it as cheap as $12 per meal to ready to go meal to work with micro entrepreneurs.
04:07 And also, this is very, Udang Gala is associated with community and culture.
04:12 So, this is what we are leveraging on to local cuisines.
04:16 [Music]
04:41 With one privilege, I went through a lot of hardship.
04:43 That's why I have to start working at 15.
04:46 So, I think a lot of women's struggles are not being normalized.
04:50 Like, that stories has always been like, "Oh, you cannot talk about this because it's just not appropriate or people will judge you."
04:59 But actually, it's not like that.
05:01 I think the women empowerment really needs to come in.
05:05 And we need to create a platform to normalize these struggles and also the success.
05:14 [Music]
05:30 I hope to be able to continue to rise in our business and develop our people.
05:36 And to be able to represent Malaysia in this event, yeah.
05:41 To bring hope and to bring confidence back to our people that we are able to.
05:46 The last year winner was doing great.
05:49 I just lost my one point.
05:51 And also, I hope to emulate that and see how it goes.
05:54 [Music]