【精华版】|Fibromat Berhad | 如何从经济金融危机变为转机 | 公司收入因为马来西亚预算案即将迎来增长?!?! | 【乐学成长空间 - LXInvest】
Summary
TLDRDanny, the Managing Director of Fibromat, discusses the company's journey from a single product producer of erosion control blankets to a comprehensive solution provider in geosynthetics. He shares his entrepreneurial beginnings, the challenges faced, and the strategic pivots that led to Fibromat's growth. Danny highlights the company's alignment with ESG principles, its role in sustainable consumption, and how climate change has created opportunities for their erosion control products. He also touches on the importance of vision, team building, and the potential of listing on the ACE Market, offering insights into the future of Fibromat.
Takeaways
- 🌿 **Fibermat's Beginnings**: Fibermat started as a single product producer using agricultural substrates to create erosion control blankets.
- 💧 **Innovation in Erosion Control**: They introduced a new turfing method involving hydroseeding and using blankets to protect seeds and encourage growth.
- 🌱 **Expansion into Sustainability**: Over time, Fibermat expanded its product range and ventured into sustainability, circular economy practices, and biomass utilization.
- 🔄 **Diversification of Products**: The company diversified from erosion control to reinforcement, greening, and surface runoff control, becoming a one-stop center for geosynthetic solutions.
- 🏆 **Entrepreneurial Roots**: Founder Danny's entrepreneurial spirit was ignited by a desire to provide a better life and make his parents proud, despite starting from humble beginnings.
- 🎓 **Educational Background**: Danny's transition from a non-academic background to pursuing a diploma in mechanical engineering played a role in his entrepreneurial journey.
- 💼 **First Business Venture**: His first venture, Line Tech, started with a small investment and grew through perseverance and taking on challenging projects.
- 🌐 **International Partnerships**: Danny's openness to international partnerships, such as with Westberry Structures from the UK, led to significant growth and learning opportunities.
- 🏗️ **Overcoming Challenges**: The company faced and overcame significant challenges, including the Asian financial crisis, by completing prestigious projects like the Formula One circuit.
- 🌱 **ESG and Climate Change**: Fibermat is positioned to benefit from the growing emphasis on ESG and climate change mitigation, with projects like flood mitigation and sediment control aligning with global trends.
- 📈 **Growth and Expansion**: Despite market fluctuations, Fibermat has shown consistent growth, with plans for an IPO and a clear vision for future expansion, especially with government initiatives.
Q & A
What is the primary function of the erosion control blanket produced by Fibat?
-The primary function of the erosion control blanket is to protect seeds from being washed away during rain and to prevent birds from picking on the seeds, thus encouraging seed growth and preventing soil erosion.
How did Fibat expand its product range over time?
-Fibat expanded its product range by moving from using just straw as an agricultural substrate to incorporating other materials like coconut fiber, EFB (empty fruit bunch) fibers, and palm oil fibers, thus diversifying into various erosion control products.
What does Mr. Danny consider as the two main product categories of Fibat?
-Mr. Danny considers the two main product categories of Fibat to be erosion control and geosynthetics.
How has Fibat's approach to sustainability and circular economy been described in the script?
-Fibat's approach to sustainability and circular economy has been described as being integrated into their business model from the start, with the use of biomass and the expansion into various environmentally friendly products.
What was Mr. Danny's initial motivation to become an entrepreneur?
-Mr. Danny's initial motivation to become an entrepreneur was to provide a better life for his family, inspired by his upbringing in a small coffee shop and the desire to not follow the same path as his parents.
What was the first company Mr. Danny started and what was its initial business?
-The first company Mr. Danny started was Line Tech, which initially focused on refurbishment of water tanks and containment.
How did Mr. Danny's background in mechanical engineering influence his entrepreneurial journey?
-Mr. Danny's background in mechanical engineering provided him with the technical knowledge to understand and improve the machines used in his businesses, such as the erosion control blanket production machine.
What significant project did Fibat undertake that demonstrated their ability to handle large-scale projects?
-Fibat undertook a prestigious project for the Formula One racetrack during the Asian financial crisis, which demonstrated their ability to deliver large-scale projects even under challenging conditions.
Why did Fibat decide to list on the LEAP Market in 2019?
-Fibat decided to list on the LEAP Market in 2019 as part of a long-term vision for growth and to raise capital for further expansion, having considered listing since as early as 2013.
How has the concept of ESG impacted Fibat's business?
-The ESG concept has impacted Fibat's business positively, as it aligns with their focus on biomass and sustainable products, and has led to increased opportunities due to government efforts in biomass and climate change mitigation.
What is Mr. Danny's advice for aspiring entrepreneurs regarding building a dream and dealing with competition?
-Mr. Danny advises aspiring entrepreneurs to have a clear vision, build their own dreams, and understand that to be very successful, one needs not only family and friends but also enemies and competitors to drive them forward.
Outlines
🌱 Founding and Expansion of Fibat B
Danny, the managing director of Fibat B, shares the company's journey from a single-product producer to a diverse enterprise. Initially, they manufactured erosion control blankets using agricultural substrates like straw. They innovated by employing hydroseeding and the blankets to protect seeds and encourage growth, preventing soil erosion and bird interference. Over time, Fibat B expanded its product range, incorporating materials like coconut fiber and engaging in sustainable practices, which align with current discussions on sustainability and circular economy. The company now offers solutions for erosion control, reinforcement, greening, and stability control, positioning itself as a one-stop center for such services.
🚀 Entrepreneurial Beginnings and Challenges
Danny reflects on his early life, growing up in a family that ran a small coffee shop, which instilled in him a strong work ethic and the desire to provide a better life for his family. Despite not being a top student, he was determined to succeed and enrolled in a mechanical engineering diploma. He quickly transitioned into the workforce, starting with a modest salary and rising to higher positions. His first entrepreneurial venture, Line Tech, began with limited capital, refurbishing water tanks and containment structures. He faced significant challenges, including securing his first job and overcoming skepticism from established companies. However, with perseverance and the support of benefactors, he managed to complete high-profile projects, including work on a reservoir critical to the water supply of a large town.
🏗️ Diversification and International Partnerships
Danny's entrepreneurial spirit led him to establish multiple ventures, including Westberry Structures, a partnership with a UK company looking to expand during a recession. Despite initial hesitation due to his lack of familiarity with the business, he took on the challenge and successfully secured significant contracts, such as the Formula One project in Malaysia. However, the project was completed during the Asian financial crisis, which led to increased costs and financial strain. Undeterred, Danny continued to seek new opportunities, eventually acquiring Fibromat, a company specializing in fiber production, and revitalizing it with innovative approaches and machinery.
🌐 Listing and Future Growth Prospects
Danny discusses the long journey towards listing Fibromat on the LEAP Market, which began in 2013 and involved various challenges and changes in strategy. He highlights the importance of ESG (Environmental, Social, and Governance) principles and how climate change has created opportunities for Fibromat, especially with government initiatives like the flood mitigation project. The company's growth trajectory is promising, with increasing demand for its products due to environmental concerns. Danny emphasizes the need for a strong team and a clear vision to build a successful business, sharing insights on maintaining a sustainable business model even during challenging times like the pandemic.
🛠️ Business Philosophy and Advice for Entrepreneurs
In the final paragraph, Danny shares his philosophy on building a business and offers advice for aspiring entrepreneurs. He stresses the importance of having a clear vision, a strong team, and the ability to adapt and learn from various experiences. He believes that success comes from not only having supporters but also from having competitors and enemies that push you to do better. Danny also talks about the importance of treating employees well, even when they leave, to maintain good relationships and avoid unnecessary competition. He concludes by emphasizing the need for a shared vision and the potential for significant growth in the face of climate change and environmental challenges.
Mindmap
Keywords
💡Fibermat B
💡Erosion Control Blanket
💡Hydroseeding
💡Sustainability
💡Geosynthetics
💡Entrepreneurship
💡Benefactors
💡Outsourcing
💡ESG
💡LEAP Market
💡Climate Change
Highlights
Fibermat B started as a single product producer using agricultural substrates for erosion control blankets.
Introduced a new method of turfing with hydroseeding to protect and encourage seed growth.
Expanded product range to include coconut fiber, EFB fibers, and palm oil fibers for erosion control.
Ventured into sustainable consumption and circular economy practices early on.
Grew into a one-stop center offering solutions for erosion control, geosynthetics, and reinforcement.
Founder's background includes a humble start in a small coffee shop, inspiring a drive for entrepreneurship.
Danny's first venture into entrepreneurship was Line Tech, starting with a small capital and growing the business.
Overcame initial struggles in Line Tech by securing jobs and support from friends and industry professionals.
Successfully completed a prestigious project for Formula One during the Asian financial crisis.
Fibermat's listing journey began in 2013 with various challenges and adjustments.
ESG concept and climate change have positively impacted Fibermat's business in terms of demand for their products.
Government's flood mitigation project, allocating 16 billion, presents a significant opportunity for Fibermat.
Fibermat's growth trajectory is expected to continue, supported by climate change initiatives and government projects.
The company has plans for expansion and outsourcing to meet growing demand without compromising quality.
Fibermat's business model has proven sustainable, even during the pandemic, with consistent growth and profitability.
Danny emphasizes the importance of having a clear vision, a supportive team, and the ability to adapt and learn.
Being a local manufacturer in Malaysia, Fibermat has faced challenges but has also capitalized on opportunities.
The founder's advice for entrepreneurs includes building dreams, having a clear vision, and embracing challenges.
Transcripts
h
manag director Mr
Danny I'm Danny from fber so why not
let's spend some uh quick moment to kind
of like go over like a brief overview
about what is f fomat B all about okay
uh Fiat actually when we first started
uh we are just a single product uh
producer you're using one of the
Agricultural substrates uh which is draw
to produce erosion control blanket using
erosion control blanket we use a new
method of turfing that is we Hydro seed
it after we Hydro seed it we need to
protect the seed and also encourage the
growth of the seeds so therefore uh this
erosion control blanket serve as a
mching and also so it covers the area
when it rains you know the the C won't
wash away and also the birds you know
don't pick on the seeds yeah uh so from
there we expanded we use more more
products on erosion control like instead
of using just pedestal we we went into
using uh coconut fiber you know uh efb
fibers pomoy fibers you know so
indirectly we are actually using a lot
of biomass directly we already Venture
in something that now people are talking
about know when you talk about
sustainability you're talking about
sustainable consumption you're talking
about circular economy and that is
actually we have already started Long
Way ago from that onwards uh we have
expanded uh we have expanded from
erosion control then we went into uh
reinforcement uh we go into Greening uh
we go into I know uh tability control uh
surface uh runoff control so we are like
now almost like a onetop center we
always emphasize two main product that
we are in that is erosion control and
geosynthetics we we classify ourself
under two main category uh that is like
I say erosion control getic yeah do you
always wanted to be an entrepreneur and
then if so when have this like uh this
thought started I came from uh not not
well to to uh family we run a very small
coffee shop when we was small after
school we have to uh open the go
you know cycle up to cut the you know
the the leaf you know where we used last
time we don't have plastic you know when
you want to WRA the quo or whatever we
have to cut the leaf and wash the leaf
and prepare all kind of things you know
at that time you know cup of coffee is
only 10 cents you know how much you know
to make 10 Ring a day I think is a big
Challenge from small I swear to myself I
will never go into this business I will
never do these things so I tell myself I
need to make at least 1,5 you know ring
or then I were able to give a better
life to my my mother so I mean this is
something that actually uh uh embeded in
our the desire to do something I mean
both my brother and myself I think there
is something that the drivers in into
entrepreneur that we wanted to do want
to make something you know to to make
our parents proud I think that is uh
that is how uh we uh we started my first
Venture into entrepreneurship is that
I'm not a good student I'm always at the
last class after graduating you know in
our parents don't know how to advises
you know what to do my mother always
emphasized you must learn you must get
something you know even though she's not
she don't study she not learn but she
knows you want to do something for us so
I was looking at the newspaper and you
know see okay mechanical engineering you
know wow there a lot of vacancy for
mechanical so I enroll as a mechanical
engineering diploma so imagine from
stream know going to S stream you know
it's a real challenge you know well I I
completed the my three years Friday is
my last day Monday I start for us you
know we we the desire to do to achieve
something so we cannot waste time you
know started at 500 ring you know 500
per month basic pay went up to 700 ring
then that it was doing the first fin
prices 1987 so I got 560 so at that time
I was actually I I got Mar quite young
okay so I mean 561 good to do I mean
there's nothing that you can do yeah I
think I I I want to start my own
business I tell my wife she said if you
want to do parents give us some jewelry
you know you see you can porn you can do
whatever take away you know try to start
something probably you get about 20
30,000 uh that's how I started my first
company uh Line Tech you know doing uh
refurbishment water tanks and and
containment like how was the Journey of
like starting a company from zero what
what was the struggle that you faced
when you having this line Tech uh
company when I first started I got the
first job you know from PS to to repair
one tank in near ULU clang it's not a
big job I think probably less than
10,000 R you know so we managed to get
it done I have friends who willing to uh
give us support even we new company
always like to thank one engineer
happens to my hometown uh Mr CH he's the
general manager of PPA uh
uh at that time uh have a problem in buk
Road or maxwelli there a old Reservoir
built by the British uh this Reservoir
actually serve like maybe half of typing
town if this Reservoir were the bir or
doesn't work you know then a lot of uh
inhabitants in typing will have will be
affected I you know went to him I say
well I can do you know he took the risk
he award to us we managed to get it done
this is a very tough job nobody can do I
mean uh in this line at that time
because uh uh we happen to be the the
company who who specialize they cannot
find any other uh other company so I
would say that know uh in life we need
to have a lot
of you know we really need a lot of
benefactors you know to help us in in a
journey to life going back to what uh my
experience uh when working for my the
other company okay when I work in that
company was actually uh designated as
the technical executive the company
actually does this kind of thing but
then they don't have any team you know
that undertake this kind work which is
out of your scope you know and you want
to be calculative then oh that's not my
job you know my job is doing sales my
job is doing technical marketing this
not side work there something like I say
I'm born in that kind of environment
anything also I can do you give me
opportunity to learn you know it depend
how you perceive you know so I say okay
I do so when I came out actually they
don't have anybody who knows how to do
when I go to the market well who has
experience I'm the one who have
experience so from there I only train my
people how to do what makes you uh make
the move on creating the your second
company actually uh it's not my second
company oh okay but I I'm a Serial
entrepreneur I I just love doing things
you know doing entrepreneurship I just
like to do it because probably when I
you know some you succeed one you can do
you want to do everything I just want to
share something very significant this is
Westberry structures I have a friend
from UK that is during the UK recession
so they were trying to expand you know
to to somewhere in Malaysia they said
then I want you to be my partner I want
you to to work so I say come on I don't
know you ask me to look read the drawing
I'm not able to understand so I said how
I'm going to be he want me to the uh to
be like the marketing director and all
this I said sorry I can't no no no no
you can so I said okay since you say I
can okay I will take the challenge so
okay I took it you know immediately I
mean the first job I got the Gan
headquarter is a our first blob then
after that we got our sham Indo Stadium
again I say I'm lucky you know going
into something which is totally alien to
me and uh able to do it yeah but the
last draw was the we got one prestigious
job that is the Formula One the time
when we got the job the US was 2.2 that
was during the Asian financial crisis so
when we start the job uh it sh up to 4.5
okay so we're supposed to host the first
race so by hook or by cook you know we
have to deliver yes uh we finished the
job and we are
finished
wow that's that's an interesting to
saying it wow I mean the cost double I
mean it definitely hurts since like you
are finished in a way like the company
is finished what was your next next
venture I mean did you go back to Line
Tech or you just like what what did you
do after that that was in 1998 you know
it's just that I mean in in one life you
know it's just that you know are you
going to cry over it and you know become
very you know depressed over the
situation a true entrepreneur is not how
many times you fall you know how many
time you you get up after you fall right
so naturally I still have my Line Tech
to fall behind and say okay now we look
for something you know maybe something
small and we can expand from that we've
offered this company uh fibrom Med so
this company also went bu fiber actually
is uh started by United Engineers we we
negotiated with them because there just
least that we can do something you know
on that that thing got the thing agreed
at 300,000 R okay with my partner n but
what we have for 300,000 okay it's just
the name okay and a very old machine
that actually doesn't work happened that
uh one of the staff who's working for us
uh in line T so he was the former staff
of that company I think good I will
transfer you to this company and you
teach me I get the staff to teach me how
to do and what to do and with my little
bit of uh mechanical engineering
background I okay manag to get the
machine back into working well I would
say that uh when the first product come
out you know I I would say it's a
totally
rabish so we managed to get one big job
uh for uh from sangai to Guam musang
where they used a lot of erosion control
blanket we have a lot of orders mhm so
how am I going to expand how I'm going
to replicate so what idea is that
reverse engineering took this machine
you know went to EO Foundry got them to
do you know another two machine so that
we are able to meet the demand we manag
to meet the demand however then uh as
business grows you know then we saying
that well we cannot get keep on when
other people will come you know then we
are nothing will be we'll be out the
market so I decided to you know go to
Germany in this uh euroian control
blanket machine there's only two
manufacturer in the world both are in
Germany and both are related and both in
the same place it's just like a vinity
it's just like walking distance you know
oh so when there you know I said yeah
I'm interested to purchase your machine
but I don't have money you I only want
to buy certain uh key component of your
machine are you willing to sell or not
so you say okay the rest we will do
ourself I think think we managed to do
it uh uh very cheap probably at that
time uh it cost us about 3 400,000 ring
you know uh but 3 400,000 to is a lot so
we got the first German machine so that
at least we have something uh of a
German uh with uh localized you know uh
so that the machine can work it will be
a much better product that we used to
produce so what actually makes you want
to list fibrom back in 2019 to to LEAP
Market my uh listing jour very long ago
maybe like 20113 you know we talking
about listing so my first uh listing
exercise was with OS you know we talking
about Ace because OS was taken over by
RHP then later on we went for Ain I mean
had problem with them then with our
prospector which done we downgrade to IM
uh info memo then we relas it at a Li
and this is how it happens is fiber
thinking about going to a market anytime
soon or what is the the the next uh
future plan we already assembled the
whole advises that we're doing for our
uh lip exercise uh I think we should
make an announcement very soon how does
this ESG concept is impacting uh fibrom
is it impacting in a good way or neutral
way first of all when we venture into
fibrom mat uh not knowing that uh we
actually in the biomass business because
a few years ago the government is
putting a lot of effort uh into biomass
you know now you can see there uh
there's two extreme you either you have
a a a drought you know where you have
forest fire WF fires or you have a very
high impact rain which create floods you
know now if you talk about two heavy
rainfall so we are also uh affected
meaning that uh as opportunity to us
that you know people now need to uh
strengthen the slope increase the heke
of their river banks and whatnot you
know they we need to put budget so like
for example due to this climate change
now Malaysia it's not only Malaysia the
whole world is facing you know so you
you have floods in every very extreme
flood you know so with this budget okay
uh we will be the beneficiary because uh
we are doing a lot of soft
bioengineering it it will benefit us
like I say because of this I would think
that uh well the our business will be on
the growth trajectory any noticeable
project that you got that you can share
with us
I think uh uh one very uh noticeable or
very big project the government is going
to announce is the flood mitigation
project that the government is
allocating about 16 billion you a lot of
investors also have been looking at our
company they say oh you are almost Sant
I think the company you know they doing
at 40 million 4 million you I would say
we are matured company the last few
years you know uh we are yeah no doubt
the Top Line they're talking about 41
million but I have to understand I would
say that actually at 41 million there
100% growth now last time there's a
there's a cake we just get a small slice
of the cake well now the cake is so
small we still got that such a big slice
of the cake you know so meaning we are
growing and not only the top line we
also growing on the bottom line this
year the first half result you know we
we showed that you know we it's growing
a lot and I would expect that this year
the full year account is going to be
much better is the current capacity can
coat with the bigger cake or is there
any like plan on like new Factory or
what is like the plan on getting the big
cake based on the present capacity I
think we are able to coand it we are not
a manufacturer per se uh we have uh like
standard products like tion control
products are standard is a bread and
butter every day we produce non-stop you
know if there's more I think uh we
cannot try to do everything our own I
think uh that's not right so we need to
Outsource if we cannot do then we have
to work with other companies you know
because like I say we are the provider
we design design and build with solution
provider we give solution so whatever
material is up to us to decide to solve
the problem is there any shortterm or
long-term like anything that you feel
like other than like this 16 billion uh
budget anything else that might be
something that uh a potential investor
would be interested in knowing more
about the companying on the wave of ESG
we are riding on the wave of climate
change uh okay so and and these are real
and it's not only in Malaysia most of
the the country have to do something for
example the Singapore airport now
Singapore they are not talking about
actually protecting the slope of what
but they are talking about sediment
control anything that you touch on the
ground you have to cover so that when it
rains the surface ront off is you know
won't carry the sediments to the drain
then you you have all our t water you
know we are growing on the grow trory
that I would foresee that uh our growth
will be significant in the sense you
know I would say that uh what we can uh
tell the investor is that during the
pandemic to even remain relevant you
know is already a challenge but for us
we are uh we are able to sustain that
kind of growth the kind of margin that
shows that our business is actually very
sustainable in 2021 we were close three
months you know three months imagine how
much we have to lose at the end of the
year we still can make a higher profit
than the previous year and all that
shows that we are the the business model
I would say is a intact you know based
on your long uh Journey on being an
entrepreneur what would you like to
share like your any last word for the
audience I I always say if you don't
build a dream somebody will hire you to
build their dream and to be successful
you really need family and friends but
to be very successful you need really
need enemies and and uh competitors you
know so you really uh I think you must
have a a Clear Vision what you want to
do to be in this business okay is a big
challenge because we are the only uh
local manufacturer that uh in in this
business in Malaysia sometimes you know
as a local uh company uh you don't have
the ground advantage in our journey the
first 15 years actually we don't have
any uh loan for any bank I also like to
share to build a company you need a team
you know a team that work together but
how can you hold on to this team you
know that are willing to share you know
your dream and to work together to
achieve your dream this is something
very very difficult and I said that as
an entrepreneur you are a jack of all
tra and master of all you need to be the
mentor you need to teach them you need
to give them you know something that
they are able to learn so that they
think there's something left they know
they they have something to to gain you
know rather not on monetary you know and
I always tell my stuff if you leave the
company I'm very happy because I have a
good student you know and I always tell
them if you go we don't become an enemy
we still become friend I have a few
stuff that left us we are still working
together so I think in that way we even
able to preserve the business and we
don't create unnecessary competitions
and also the the vision and the vision
we need to share to our people what we
want to do how we want to do where we
want to go so that these people know at
least you know when they know that if I
go to this they be rewarded there
something they look forward if I you
know I know I'm just getting this one
you know the the company is not going
any where there's nothing something that
they going to achieve I mean they they
will live this is very very very good
sharing I mean I really appreciate I
mean there's I learned a lot of like I
hope that audience also like kind of
found this very helpful I personally I
learned a lot I mean once again Mr Danny
uh really appreciate your time uh I hope
that maybe in the future once you guys
went on Ace Market maybe we can kind of
like talk more about the business and
learn more about fiom brart until next
time thank you byebye yeah thank you
bye-bye thank
[Music]
you
[Music]
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