The Star Outstanding Business Awards (SOBA) Prestige event for 2024 kicked off in grand style last night.

The event, held in Aurum Cinema’s Hokkaido Table at The Exchange TRX, attracted SOBA’s past winners, sponsors and strategic partners under one roof.

Its objective was to create a business networking session for small and medium-sized enterprises (SMEs).

Hinging on SOBA’s solid reputation, the event presented another platform for past winners to make new connections, exchange insights and inspire them to upscale their own businesses through partnerships.

To mark SOBA’s 15th anniversary, this year’s Prestige event also introduced the SOBA Council, which comprises the chief SOBA judges, SOBA sponsors and the SOBA Ambassadors, who were past SOBA winners.

Gracing the event were Star Media Group (SMG) group chief executive officer Chan Seng Fatt, chief business officer Lydia Wang, Bursa Malaysia Bhd origination and listing director Leong See Meng, SOBA sponsors Credit Guarantee Corp Malaysia Bhd (CGC) business development and products head Mohamed Azman Mohamed Taufik, PKT Logistics Group corporate affairs head and strategy executive assistant to group chief executive/managing director Corinne Chieng, and RHB Bank Bhd SME Banking head Yip How Nang.

The evening started with opening remarks by Chan who congratulated the past SOBA winners who were present.

“SOBA winners have transcended boundaries with impeccable resilience and have broken new ground with their entrepreneurial spirit,“ he said.

He hoped the event would be able to reconnect the winners to form new bonds that went beyond just business, to foster a new generation of thought and community leaders.

In his keynote address, Leong encouraged SMEs to get themselves listed.

“SMEs play a crucial role particularly in nation building and creating employment in raising the knowledge base of the country,“ he said.

He said with initiatives such as the 12th Malaysia Plan, National Energy Transition Roadmap and National Industrial Master Plan 2030, the country was ready for SMEs to flourish and contribute towards the national economy.

Over canapes, sponsors from PKT and RHB Bank each gave a presentation on some of the services they provided to help SMEs grow their businesses.

To make the session more informative, a panel discussion on “Building a legacy: navigating succession and continuity” was held.

The panel shared strategies for sustaining businesses through generations, adapting to market changes and fostering innovation while preserving core values.

Speakers also discussed navigating the transition to PLC status, including regulatory compliance and strategic planning, to ensure a seamless shift while upholding the business legacy.

The panel included Secret Recipe Holdings Sdn Bhd managing director Patrick Sim, Malaysia Entrepreneurs’ Development Association (PUMM) president Datuk Teh Tai Yong, Bursa Malaysia origination and listing, listing development executive vice-president Lee Kuan Teck, CGC’s Mohamed Azman and RHB Bank SME business development head Kelvin Chin Wen Jye.

The discussion was moderated by Malaysia Retail Chain Association (MRCA) vice-president Dr Afendi Dahlan.

SOBA 2024 is organised by SMG with CGC, PKT Logistics and RHB Bank as main sponsors, with Matrade being the official trade promotion partner. It is audited by BDO while radio stations 988 and Suria are official media partners.

For details, call SMG Events (017-231 1789) or visit www.soba.com.my.