With Malaysia’s Budget 2026 freshly tabled, many SMEs and mid-tier companies are parsing through the fine print to understand what the government’s promises of reform and inclusion actually mean for them.



We speak with Datuk William Ng, National President of  the Small and Medium Enterprises Association (SAMENTA), to discuss what’s in Budget 2026 for SMEs — from financing access and compliance pressures to digital readiness and export potential. Does this “Rakyat’s Budget” truly deliver on its promise to strengthen Malaysia’s small-business backbone, or are entrepreneurs still waiting for deeper, structural support?



Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.

With Malaysia’s Budget 2026 freshly tabled, many SMEs and mid-tier companies are parsing through the fine print to understand what the government’s promises of reform and inclusion actually mean for them.We speak with Datuk William Ng, National President of&nbsp; the Small and Medium Enterprises Association (SAMENTA), to discuss what’s in Budget 2026 for SMEs — from financing access and compliance pressures to digital readiness and export potential. Does this “Rakyat’s Budget” truly deliver on its promise to strengthen Malaysia’s small-business backbone, or are entrepreneurs still waiting for deeper, structural support?Brought to you by Mah Sing. Reinvent Spaces. Enhance Life.

Helping you navigate the ever-changing universe of business, from headlines to the bottom line

Helping you navigate the ever-changing universe of business, from headlines to the bottom line

Enterprise Explores

Does Budget 2026 Deliver for SMEs?

Is Southeast Asia's venture capital slowdown a crisis, or a necessary calibration? Kevin Brockland, Managing Partner at Indelible Ventures, joins us to unpack the desperately needed reset across the LP, VC, and startup funding chain. We discuss the region's historic lack of cash returns, the truth behind the "AI hype bubble," and why vertical integration is the true key to building defensible tech companies in the next cycle.



During the previous boom cycle, the region's venture ecosystem was fueled by overexuberance, "spray and pray" capital deployment, and a heavy reliance on copy-pasted Silicon Valley playbooks. This strategy ultimately led to a landscape plagued by overstated revenues, inflated paper valuations, and a severe lack of Distribution to Paid-In Capital (DPI) for investors.



Today, Southeast Asia is facing a harsh but necessary reality check. With a visible slowdown in fundraising momentum and increasingly selective LPs, the entire ecosystem must grow up. To unlock the next wave of durable value creation, founders and fund managers must abandon generic tech wrappers and instead focus on addressing the real efficiency layers and deep vertical workflows of traditional businesses.



We discuss:




The VC Reset: Why the funding chain, from LPs to VCs to startups, needs a harsh reality check to correct the overstated revenues and inflated paper valuations of the previous cycle.


The Missing Middle: The concerning lack of new fund managers in the region, and why fresh strategies are desperately needed to fix Southeast Asia's historically poor VC return outcomes.


Escaping the AI Bubble: Why founders need to stop pitching "AI agents" to business owners who only care about revenue, profit, and solving operational friction.


The "SaaS Apocalypse": Why the narrative of AI destroying all software is overblown, but why generic, horizontal SaaS layers are in severe danger of commoditisation.


The Vertical Moat: How the next durable wave of value creation in Southeast Asia will come from vertical AI/SaaS companies that deeply integrate into highly nuanced industry workflows to create ultimate customer stickiness.

Is Southeast Asia's venture capital slowdown a crisis, or a necessary calibration? Kevin Brockland, Managing Partner at Indelible Ventures, joins us to unpack the desperately needed reset across the LP, VC, and startup funding chain. We discuss the region's historic lack of cash returns, the truth behind the "AI hype bubble," and why vertical integration is the true key to building defensible tech companies in the next cycle.During the previous boom cycle, the region's venture ecosystem was fueled by overexuberance, "spray and pray" capital deployment, and a heavy reliance on copy-pasted Silicon Valley playbooks. This strategy ultimately led to a landscape plagued by overstated revenues, inflated paper valuations, and a severe lack of Distribution to Paid-In Capital (DPI) for investors.Today, Southeast Asia is facing a harsh but necessary reality check. With a visible slowdown in fundraising momentum and increasingly selective LPs, the entire ecosystem must grow up. To unlock the next wave of durable value creation, founders and fund managers must abandon generic tech wrappers and instead focus on addressing the real efficiency layers and deep vertical workflows of traditional businesses.We discuss:<ul><li>The VC Reset: Why the funding chain, from LPs to VCs to startups, needs a harsh reality check to correct the overstated revenues and inflated paper valuations of the previous cycle.</li><li>The Missing Middle: The concerning lack of new fund managers in the region, and why fresh strategies are desperately needed to fix Southeast Asia's historically poor VC return outcomes.</li><li>Escaping the AI Bubble: Why founders need to stop pitching "AI agents" to business owners who only care about revenue, profit, and solving operational friction.</li><li>The "SaaS Apocalypse": Why the narrative of AI destroying all software is overblown, but why generic, horizontal SaaS layers are in severe danger of commoditisation.</li><li>The Vertical Moat: How the next durable wave of value creation in Southeast Asia will come from vertical AI/SaaS companies that deeply integrate into highly nuanced industry workflows to create ultimate customer stickiness.</li></ul>

The VC Reset & Why The "SaaS-pocalypse" Is Overblown 

Geopolitical risk has spiked further. Following unprecedented military action, the Strait of Hormuz, a critical choke point handling 20% of the world's daily oil and LNG, is effectively paralysed.

With the geopolitical risk premium on oil already sitting between $20 and $30 per barrel, fears are mounting that a prolonged disruption could push prices past $100. This threatens to trigger a new wave of global inflation and force central banks to abandon their rate-cutting cycles.

Cedric Chehab, Chief Economist at BMI, joins BFM to unpack the macroeconomic fallout of the crisis, the US strategy of "regime reconfiguration" in Iran, and what this energy shock means for highly exposed economies in ASEAN.



Learn About:




The $30 Risk Premium: Why BMI estimates the "fair value" of oil is currently $55 to $65, and how panic buying and supply disruptions could drive prices even higher.


"Regime Reconfiguration" vs. Regime Change: Unpacking the US strategy in Iran, the search for a moderate transitional government, and the severe risks of sectarian conflict if the plan fails.


The Supply Squeeze: Why the global capacity to offset physical supply losses from the Strait of Hormuz is extremely limited, despite OPEC+ signals and US production.


The Central Bank Dilemma: How a sustained oil shock could kill hopes for monetary easing, forcing central banks to adopt hawkish forward guidance or aggressively raise rates to anchor inflation expectations.


The ASEAN "Triple Whammy": Why Southeast Asia is highly vulnerable to this crisis, facing deteriorating terms of trade, current account hits, and massive strain on government fiscal accounts due to energy subsidies.

Geopolitical risk has spiked further. Following unprecedented military action, the Strait of Hormuz, a critical choke point handling 20% of the world's daily oil and LNG, is effectively paralysed.With the geopolitical risk premium on oil already sitting between $20 and $30 per barrel, fears are mounting that a prolonged disruption could push prices past $100. This threatens to trigger a new wave of global inflation and force central banks to abandon their rate-cutting cycles.Cedric Chehab, Chief Economist at BMI, joins BFM to unpack the macroeconomic fallout of the crisis, the US strategy of "regime reconfiguration" in Iran, and what this energy shock means for highly exposed economies in ASEAN.Learn About:<ul><li>The $30 Risk Premium: Why BMI estimates the "fair value" of oil is currently $55 to $65, and how panic buying and supply disruptions could drive prices even higher.</li><li>"Regime Reconfiguration" vs. Regime Change: Unpacking the US strategy in Iran, the search for a moderate transitional government, and the severe risks of sectarian conflict if the plan fails.</li><li>The Supply Squeeze: Why the global capacity to offset physical supply losses from the Strait of Hormuz is extremely limited, despite OPEC+ signals and US production.</li><li>The Central Bank Dilemma: How a sustained oil shock could kill hopes for monetary easing, forcing central banks to adopt hawkish forward guidance or aggressively raise rates to anchor inflation expectations.</li><li>The ASEAN "Triple Whammy": Why Southeast Asia is highly vulnerable to this crisis, facing deteriorating terms of trade, current account hits, and massive strain on government fiscal accounts due to energy subsidies.</li></ul>

Strait of Hormuz Paralysed: Will Oil Break $100?

Malaysia’s café and beverage market is booming, but it’s also becoming one of the most competitive consumer sectors in the country.



With over 5,000 cafés nationwide, rising coffee consumption, and aggressive expansion from regional and Chinese brands, café operators are navigating tighter margins, higher expectations, and a more tech-driven customer base. Gen Z demand is accelerating growth, home brewing remains strong, and loyalty apps are becoming as important as latte art.



Alun Jones, Project Director of Montgomery Asia and organiser of the International Coffee & Beverage Show 2026 (ICBS), alongside Koh Wei Yang, General Manager of Barista Guild Asia, joins BFM Enterprise Explores to explore how the industry is restructuring, the role of events like ICBS, and why running a cafe is no longer just about coffee.



Learn about:




The Competitive Reset: Why Malaysia’s buoyant coffee market is also forcing operators to rethink efficiency, pricing and scale.


The Gen Z Effect: How younger consumers are driving consumption growth and shifting expectations.


Technology as a Survival Tool: Why loyalty apps, POS systems and data-driven engagement are no longer optional.


Beyond Coffee: The rapid rise of tea, kombucha and alternative beverages as differentiation strategies.


The Hard Truth for New Entrants: Why romanticising café ownership is risky and what aspiring operators need to understand before investing.

Malaysia’s café and beverage market is booming, but it’s also becoming one of the most competitive consumer sectors in the country.With over 5,000 cafés nationwide, rising coffee consumption, and aggressive expansion from regional and Chinese brands, café operators are navigating tighter margins, higher expectations, and a more tech-driven customer base. Gen Z demand is accelerating growth, home brewing remains strong, and loyalty apps are becoming as important as latte art.Alun Jones, Project Director of Montgomery Asia and organiser of the International Coffee &amp; Beverage Show 2026 (ICBS), alongside Koh Wei Yang, General Manager of Barista Guild Asia, joins BFM Enterprise Explores to explore how the industry is restructuring, the role of events like ICBS, and why running a cafe is no longer just about coffee.Learn about:<ul><li>The Competitive Reset: Why Malaysia’s buoyant coffee market is also forcing operators to rethink efficiency, pricing and scale.</li><li>The Gen Z Effect: How younger consumers are driving consumption growth and shifting expectations.</li><li>Technology as a Survival Tool: Why loyalty apps, POS systems and data-driven engagement are no longer optional.</li><li>Beyond Coffee: The rapid rise of tea, kombucha and alternative beverages as differentiation strategies.</li><li>The Hard Truth for New Entrants: Why romanticising café ownership is risky and what aspiring operators need to understand before investing.</li></ul>

Does Budget 2026 Deliver for SMEs?

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