He said the company recognises that sustaining overheads is a real pain for businesses with the highest costs being raw materials, human capital and electricity; therefore, it is focused on helping them reduce overheads, specifically electricity costs.
"To execute this, we are providing free energy clinic consultations for businesses to help check a building's energy consumption and provide advice on optimum usage," he said at a recent webinar titled “Embracing the New Norm: Now and Beyond MCO.”
Other panellists were AmBank Group managing director, business banking, Christopher Yap and LH Plus CEO Callum Chen.
Ko said cost remains a concern for solar energy investments at a time when businesses are looking to just stay afloat.
He said to address this, the company has put in place a zero upfront investment plan for businesses to install solar solutions, thus enabling businesses to enjoy energy cost savings upon installation and transform the way they are consuming electricity.
"Be swift to seize the opportunities. Strengthen your position with the new norm through timely transformation. Never waste a good crisis for there are opportunities even then,” he added.
Meanwhile, Chen said businesses need to pivot their mindset, learn to diversify and optimise their productivity, and transform their business to stay afloat and to compete in today’s new world.
“At LH Plus for example, we initially sold only to the United States market but due to the concentrated risk, we later expanded into Japan,” he said.
Chen said this also ensured the company’s manufacturing floor is running at optimum productivity throughout the year including off-peak periods.
Also, we adopted non-cyclical trends such as disposable medical products that do well in economic downturns, since demand for the products and services continues regardless of the state of the economy,” he added.