Week in Review: A trend emerges with bricks-and-clicks model
By Karamjit Singh July 22, 2016
- Is what Previndran Singhe doing with SUHQ the way forward?
- Hear from brick-and-mortar leaders at What’s Next 2016 next week
THIS was a week of really interesting news in the startup ecosystem in South-East Asia, from KK Fund’s next fund powered by continued Japanese interest in the region (including Masayoshi Son’s brother getting in the act), to Singapore-based Thai fintech player Omise raising a US$17.5-million Series B round and another fintech player in Indonesia even submitting a 70-page policy paper to the country’s Financial Service Authority (OJK) to kickstart regulatory discussions!
And in Malaysia there is excitement, tampered with cautious optimism, over the 2017 introduction of coding in the public school curriculum.
But this was the quote of the week for me: “Change is constant, the real estate market is going online and platforms like SUHQ (Sell Your Home Quickly) will be one of the primary methods people will use to sell their property moving forward.”
It was not made by a startup founder but by Previndran Singhe, a leading property authority in Malaysia, with his own firm Zerin Properties.
This is a biased opinion, but with the What’s Next: The Business Impact of Disruptive Technology conference on July 28, I thought this was just the latest in a sliver of a trend where you will start seeing brick-and-mortar players embracing the digital space – not to disrupt their business, but to complement, enhance and even replace some parts that no longer are relevant in an increasingly digital world.
Leslie Loh of Red Dot Ventures, also a speaker at What’s Next, notes that this is called the ‘bricks-and-clicks’ hybrid model – one that the Singapore Government is taking very seriously as well, but you can read my story on that next week!
While the selling or property has gone digital in a big way, it has always been led by startups and this is the first time, in Malaysia, I am seeing an old-school property guy embrace digital.
Previndran feels he has no choice but to adapt because the customer is already going digital and, “if I don’t get with it, I won’t have too many customers!”
In keeping with the hybrid model, he is keeping the SUHQ team in the same office as his established business as he feels both will need to rely on each other to succeed.
Do you think this bricks-and-clicks model will become more prevalent, or are the brick-and-mortar players just deluding themselves into thinking they can adapt?
And if you attend What’s Next on July 28, I think you will be privileged to hear from the leaders of some of Malaysia’s largest companies on how they are managing and adapting (or not) to the digital disruption.
From conglomerates Berjaya Corp and UEM Group and the largest (in terms of hospital beds) listed healthcare group in South-East Asia, KPJ Healthcare Bhd and the most profitable telco Maxis Bhd, to the most advanced latex rubber manufacturer in the world Hartalega Bhd and one of the largest banking groups in Malaysia, RHB Bhd.
You are going to emerge with lots of takeaways from What’s Next 2016 on July 28 at the Sime Darby Convention Centre in Kuala Lumpur. Register directly at http://digitalnewsasia.com/whats-next-2016 or call Suraini Sarip at 6013 295-3498 for details.
See you there!
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