Blogger Notes

In the chapter 5 tell us about changing business models and how their team in SKALI handle the company. Every team in SKALI help with another to success in the business. We also can see the commitment and their strength to save the company. Although have internal problem with “GENG-GENG SKALI ” it no demoralize Tengku Farith Rithaudeen to fight that company. They have the spirit to continue to get up even if various challenges that face in the company.

Here I want to tell everyone that the summarize in the chapter 5. In 1999, Malaysia was emerging from the Asian Economic crisis and businesses were starting to invest in IT again. Unfortunately, Hisham decided to leave SKALI in April that year because he has a family problem. And then Hisham quit the job at Road Builder to join SKALI full-time become a president of company.

We evolve our site into a full-blown portal. The techniques useb by other players overseas, the content very too expensive. The task of identifying strategic partners to supply the content to these various channels was assigned to one of our partners, Reza(Badak). Aimi who was helping Badak with the search for content at Singapore.
By the middle of the year, Dotcom were cropping up like mushrooms. When the demand for hosting services increased and we needed to get more hardware. The deal with MTDC was that they would finance the cost of building the server farm. With the new infrastructure in place, we were able to offer our clients value-added services.

Finally our company look stable although we weren’t out of the woods yet, but at least there was some light at the end of the tunnel.

In this chapter what I can share with everyone is “How To Survive In Bussiness”. In this chapter tell me the power and spirit in “Geng-Geng SKALi” to safe their company.The first tasks as full-time president (Tengku Farith Rithaudeen)in SKALI was to divide the team into two groups. Ida and I handled the creditors, while Azmi and Aimi handled operations and sales (Azmi was responsible for the data centre business while Aimi took care of Skali.com). We had cash to pay our creditors.

The people at the top of our priority list were our ex-staff. We wanted to make sure they got a fair severance package.We called everyone in and met each one individually to discuss settlements that both parties would be happy with we. Our main creditors were PUNB and Nomura-Jafco. We owed them a lot of interest on the loan stocks.

PUNB had agreed to convert their loan stocks into SKALI’s shareholdings as long as we can get a new investor to come in as well. The outstanding interest would have to be paid from the capital injection by the new investor.

The other major creditor was the hardware provider and DEC partner called HTI Industries Sdn Bhd (Horizon). Another supplier was a company owned by Kamaluddin Badawi, the son of the current Prime Minister. With agreements achieved with our creditors and revenues flowing in from both Skali.com and our data centre, we were suddenly on investors’ radar screens. The main problem we had with them was their valuation of SKALI.

We then opened our doors to other parties interested in investing in SKALI, hoping to get a more attractive valuation. There were two other investors who showed some interest in us. We were deeply honoured that both Chua and Netrove had considered us because they are both highly reputable and savvy investors.

We were deeply honoured that both Chua and Netrove had considered us because they are both highly reputable and savvy investors. By the end of the year, we were on pretty good financial footing, and that’s not just from investors’ money.

Here I can learn about friendship with other and their commitment in their work and always think positive. The “GENG SKALI” work very hard and have a strenght to build their company.