Merge by RHB | Prospering together in the true spirit of Merdeka

Mr. Liew's grocery store is a small shop in the industrial area of a neighbourhood in Kuala Lumpur. He had opened the store when his eldest child was a toddler, and today, more than 30 years later, the store is run by his children.

Part of his secret to the longevity of his store is being an active member of the community and getting to know his customers and their needs well.

"This is not the first financial crisis we've been through together. In the 1990s, some of my customers were facing financial difficulties, so I allowed them to buy on credit and gave them a discount on their monthly bills. There is a bond of trust between us, and they have paid back me many times over because now their children shop here, too. It feels very rewarding for me as a small business owner," he says.

Mr. Liew's grocery store is a true Malaysian story, one that unites us through mutual support and understanding. No matter how tough it gets, we will always be there for each other.

Supporting local businesses goes beyond spending ringgit at a local shop. There’s also a need to foster a sense of community, which is important in tough times. With this sense of community, we can rise to greater heights together.

As a proud Malaysian bank, RHB will continue to support business owners like Mr Liew to help them serve their communities. Businesses like Mr. Liew’s have grown with facilities like RHB's SME Reflex, which combines cash management, trade and payment solutions into one simple online solution.

RHB also helps connect SMEs with Malaysians through #JomSapot, an online marketing platform that comes at no extra cost to businesses. Customers can purchase products and services at a discount and pledge support to more than 5,500 shops, hotels and cafes and even Malaysia's most popular home improvement chain, MR D.I.Y.

MR D.I.Y. is a homegrown success story on a larger scale, created through community support and represents a sense of pride for all Malaysian brands. The business started from very humble beginnings. In 2005, Tan Yu Yeh opened a small shop at Jalan Tuanku Abdul Rahman selling hardware, and by the end of the year, he had expanded to three shops. As a former engineer and remisier, Tan recognised the demand for affordable household items with fuss-free service, and today, the company has 713 stores across Malaysia and 5 in Brunei. The company went public in October 2020, and now has a market capitalisation of more than RM19 billion, making Tan and his brother and business partner Tan Yu Wei billionaires.

To thank Malaysians for their support, MR D.I.Y. has been offering "Promosi Poket Selamat" promotion every year since 2015, where customers can get up to 40% discount on selected high-quality goods. This year, the promotion runs from 1 September - 30 September 2021 and includes a total of 41 products which customers can shop online to stay safe at www.mrdiy.com.my.

Grab is another huge success story that shows how far local support can take a business. The e-hailing service has managed to take over its largest competitor, Uber, thanks to the support of Malaysians who prefer to spend their ringgit on a locally-built business.

Anthony Tan and Tan Hooi Ling founded the company in 2012 as MyTeksi, based in Kuala Lumpur. They wanted to offer a simple solution for safe and hassle-free taxi rides. Tan came up with the idea while he was still a student at Harvard Business School and secured a $25,000 grant from the school to start the business¹.

In less than a decade, the company has expanded to offer meal delivery and even a digital payment platform accepted by businesses large and small across the country. Grab is now the region's first "decacorn", a startup with a valuation of more than $10 billion that operates in Thailand, Singapore, Indonesia and Vietnam. Although Grab is now based in Singapore, Malaysians will always be proud to call it their own.

A simple solution can spark an idea, and so Oxwhite was founded. For years, CK Changr struggled to find shirts that fit the Asian physique. Asians are built differently, and most clothing offered in retail stores is tailored to fit Western body types. In 2015, while strolling through the famous Savile Row in London, he came across a tailor and decided to get a custom-made shirt. He was so pleased with the fit that he decided to take it a step further and start a business selling high quality off-the-rack clothing tailored to fit Asians, at an affordable price point.

By thinking of the needs of his fellow Malaysians, Changr created a new niche market, and the support from the local market and investors was immense. The company broke the Malaysian equity crowdfunding record in December 2019, raising $1.2 million from 485 investors.

Let us help take Oxwhite to the next level to keep the Malaysian flag flying proudly. Oxwhite has a special promotion, exclusively for RHB Credit Card/-i customers. Show your support by spending a minimum amount of just RM60 in a single receipt at www.oxwhite.com from now until 31 December 2021, and you will also receive an instant discount of RM10. Use the coupon code "RHB10" when you checkout.

As an RHB Credit Card/-i holder, you can also support local F&B online businesses and get 15% cashback when you spend at least RM50 at selected merchants from now until 16 September 2021. You can place your meal order via Grabfood delivery, Deliver Eat, AirAsia Food, Foodpanda, LOLOL or Beep It. The offer also applies to fast food delivery services such as McDonald's, Pizza Hut, Domino's or KFC.

You can also do your part to support the economy - and share in its potential growth - through your investments. Your investments help boost the economy by balancing supply and demand in the market, keeping it resilient. It's also a good idea to invest locally as you are likely to be more familiar with the market and its subtleties, making it a safer option. Another plus is that your investments will help secure jobs and create new ones for thousands of fellow Malaysians who live and dream just like you.

If you'd like to invest in the local market and bonds, talk to your Relationship Manager about your investment goals and risk profile. They will help you create a portfolio that best fits your risk profile and includes both value and growth stocks in domestic vaccine recovery stories and export-oriented economies. RHB Asset Management has been ranked as the Top Investment House in Asian Local Currency Bonds for 2021 by The Asset Benchmark Research, so you know your portfolio is in good hands.

Things may look bleak right now, but these Malaysian stories have proven that nothing is impossible when we come together to support our local businesses. By supporting them, we help each other to grow and prosper in the true spirit of an independent Malaysia.

Sources:
¹TechEDT, Everything you need to know about Grab, Vincent Wee, 9 Jan, 2017. YourTechStory, Grab: One of the biggest startups in Southeast Asia, Annasha, 3 Oct, 2019.

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Mr. Liew's grocery store is a small shop in the industrial area of a neighbourhood in Kuala Lumpur. He had opened the store when his eldest child was a toddler, and today, more than 30 years later, the store is run by his children.

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