In the aftermath of the FTX collapse in late 2022, the crypto landscape isn’t as sexy and appealing as it used to be, now playing second fiddle to Generative AI and Chat GPT, however that doesn’t mean that innovation and development in the space has come to a halt.



After years of work, last month, the Securities Commission granted approval to Malaysian startup CoKeeps to be Malaysia's first qualified Digital Asset Custodian. A pioneer in the Malaysia crypto and digital scene, CoKeeps aims to lay the right foundations to increase digital assets adoption.



Today on Open for Business, you will learn about how this homegrown startup navigated the ever-evolving crypto industry and become the first qualified Digital Asset Custodian in Malaysia. More importantly, why is this their focus in the wide wide web3 world? 

In the aftermath of the FTX collapse in late 2022, the crypto landscape isn’t as sexy and appealing as it used to be, now playing second fiddle to Generative AI and Chat GPT, however that doesn’t mean that innovation and development in the space has come to a halt.After years of work, last month, the Securities Commission granted approval to Malaysian startup CoKeeps to be Malaysia's first qualified Digital Asset Custodian. A pioneer in the Malaysia crypto and digital scene, CoKeeps aims to lay the right foundations to increase digital assets adoption. Today on Open for Business, you will learn about how this homegrown startup navigated the ever-evolving crypto industry and become the first qualified Digital Asset Custodian in Malaysia. More importantly, why is this their focus in the wide wide web3 world?

The flagship entrepreneurship show on BFM, featuring personal business stories from early stage start-ups, all the way to billionaire octogenarians in Malaysia and abroad. Notable guests include Martin Cooper (father of the mobile phone), Julian Assange (founder of WikiLeaks), Ralph Henry Baer (father of video games), Tony Buzan (Mindmap Guru), Isaac Tigrett (Hard Rock Cafe founder), Robert Kiyosaki (Financial Guru), Nick Vujicic (motivational speaker) and more. Tap into this valuable resource of shared experiences for the SME industry, which also touches on news, issues and trends affecting the business community and beyond.

Open For Business

Discover fresh concepts, tackle obstacles, and unleash growth - Open For Business is the dynamic show where BFM engages with entrepreneurs, business leaders, and industry trailblazers, igniting inspiration, sparking success, and exploring new business models.

The Downfall of FTX - A Blessing For Crypto Custodian CoKeeps?

Most F&B founders measure success by the number of retail outlets they open. But Christine Tham and Leong Hoo Yin quickly realised that relying solely on retail is a "single-layer" business model that inevitably leads to a plateau. Founded in 2022, Gelatomania started as a retail brand but quickly pivoted to a much larger ambition: building an integrated, end-to-end gelato ecosystem for the Asian market. Recognising that Southeast Asia was heavily dependent on expensive, non-localised European brands for ingredients and equipment, Christine and Leong began offering Professional Gelato Training, B2B wholesale supply, and custom recipe development. To date, their academy has graduated over 5,500 "Gelato-maniacs" and helped launch several competing retail brands.



The co-founders join us to share the strategy behind their ecosystem play, the operational nightmare of competing against legacy European ingredient giants, and why true F&B defensibility comes from controlling the supply chain, not just the recipe.

Most F&amp;B founders measure success by the number of retail outlets they open. But Christine Tham and Leong Hoo Yin quickly realised that relying solely on retail is a "single-layer" business model that inevitably leads to a plateau. Founded in 2022, Gelatomania started as a retail brand but quickly pivoted to a much larger ambition: building an integrated, end-to-end gelato ecosystem for the Asian market. Recognising that Southeast Asia was heavily dependent on expensive, non-localised European brands for ingredients and equipment, Christine and Leong began offering Professional Gelato Training, B2B wholesale supply, and custom recipe development. To date, their academy has graduated over 5,500 "Gelato-maniacs" and helped launch several competing retail brands.The co-founders join us to share the strategy behind their ecosystem play, the operational nightmare of competing against legacy European ingredient giants, and why true F&amp;B defensibility comes from controlling the supply chain, not just the recipe.

The Ecosystem Play: Why Gelatomania Is Building More Than Just Outlets

Is it possible to run a highly profitable retail business in premium shopping malls by selling products for just RM5 on the honour system?



Adrian Ung, a seasoned commercial leader with 30 years of corporate experience, believed it was. In 2022, he co-founded Books For A Better World (BFBW), a social enterprise dedicated to giving pre-loved books a second life. Sourcing books from public donations and organisations like The Salvation Army, BFBW operates a network of affordable bookstores across the Klang Valley—including IPC, Avenue K, and 1 Mont Kiara. To keep overheads low, BFBW relies heavily on a self-service QR-code payment system and a dedicated workforce of senior citizen volunteers. Today, the bootstrapped social enterprise generates six-figure annual revenues while donating a portion of its proceeds back to charity.



Adrian joins us in the studio to unpack the operational tightrope of running a hybrid social enterprise, retail theft, the logistics of sorting thousands of donated books, how to negotiate with premium mall landlords, and why purpose-driven businesses actually command stronger community loyalty.

Is it possible to run a highly profitable retail business in premium shopping malls by selling products for just RM5 on the honour system?Adrian Ung, a seasoned commercial leader with 30 years of corporate experience, believed it was. In 2022, he co-founded Books For A Better World (BFBW), a social enterprise dedicated to giving pre-loved books a second life. Sourcing books from public donations and organisations like The Salvation Army, BFBW operates a network of affordable bookstores across the Klang Valley—including IPC, Avenue K, and 1 Mont Kiara. To keep overheads low, BFBW relies heavily on a self-service QR-code payment system and a dedicated workforce of senior citizen volunteers. Today, the bootstrapped social enterprise generates six-figure annual revenues while donating a portion of its proceeds back to charity.Adrian joins us in the studio to unpack the operational tightrope of running a hybrid social enterprise, retail theft, the logistics of sorting thousands of donated books, how to negotiate with premium mall landlords, and why purpose-driven businesses actually command stronger community loyalty.

Unstaffed And Profitable: Inside Malaysia’s Pre-Loved Book Empire

Gu On is not your average Korean BBQ joint. Launched in July 2023, the brand specialises in traditional Korean smoked meats, rich bone broths, and modern interpretations of Korean classics. But what truly sets Gu On apart is its rapid growth model. By leveraging a strategic "intrapreneurial" partnership and utilising a pre-existing central kitchen, founder Shuen Kuan bypassed the gruelling early-stage operational hurdles most F&B startups face. In less than two years, Gu On has scaled to three premium locations—including The Exchange TRX and The Starling—and generates combined annual revenues in the 8-figure range.



Shuen Kuan joins us in the studio to unpack the realities of scaling a multi-million ringgit restaurant group at lightning speed, as well as the massive roadblock currently paralysing their growth: Malaysia's severe F&B labour crisis. With foreign worker quotas frozen and local hiring pools shrinking for non-halal establishments, we explore what happens when a highly profitable brand has the capital to expand, but literally cannot find the manpower to do it.

Gu On is not your average Korean BBQ joint. Launched in July 2023, the brand specialises in traditional Korean smoked meats, rich bone broths, and modern interpretations of Korean classics. But what truly sets Gu On apart is its rapid growth model. By leveraging a strategic "intrapreneurial" partnership and utilising a pre-existing central kitchen, founder Shuen Kuan bypassed the gruelling early-stage operational hurdles most F&amp;B startups face. In less than two years, Gu On has scaled to three premium locations—including The Exchange TRX and The Starling—and generates combined annual revenues in the 8-figure range.Shuen Kuan joins us in the studio to unpack the realities of scaling a multi-million ringgit restaurant group at lightning speed, as well as the massive roadblock currently paralysing their growth: Malaysia's severe F&amp;B labour crisis. With foreign worker quotas frozen and local hiring pools shrinking for non-halal establishments, we explore what happens when a highly profitable brand has the capital to expand, but literally cannot find the manpower to do it.

The Downfall of FTX - A Blessing For Crypto Custodian CoKeeps?

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