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The Star
01-06-2025
- Business
- The Star
Reimagining the farm with youth
WITH agrotourism gaining momentum both globally and in Malaysia, now is the time to invest in strategic initiatives that enhance the country's competitiveness in this growing sector. Encouraging active youth participation, stakeholders say, should be high on the list of priorities, as it will not only ensure long-term sustainability, but also contribute to national food security. Phoon Farm in the City chief executive officer (CEO) Datuk Allan Phoon said the younger generation can help the industry stay relevant by bringing fresh perspectives and ideas, and tapping into emerging trends that appeal to both current and future generations. 'With their skills and knowledge – especially in digital tools and technology – they can help modernise agrotourism, adopt more eco-friendly practices, and promote our local culture and heritage,' he told StarEdu. He added that youth stand to gain from the bright prospects of Malaysia's agrotourism sector, crediting it to the country's diverse cultures and communities, along with its rich tropical rainforests and island destinations. In its latest report, global management consulting firm Imarc Group stated that the global agrotourism market reached US$73.2bil (RM311.3bil) in 2024 and is projected to grow at a compound annual growth rate of 10.9%, reaching US$205.6bil (RM874.3bil) by 2033. According to the report, agrotourism refers to a form of tourism that involves visiting agricultural areas to experience farming and enjoy a rural environment. It includes fruit picking, cow milking, vegetable harvesting, livestock rearing, horticulture, crop cultivation, farm tours, agricultural workshops, and demonstrations. The stakeholders' call to emphasise agrotourism also comes as the country gears up for Visit Malaysia Year 2026. As reported in the media, Malaysia is aiming to attract 45 million visitors and generate RM270bil in tourism revenue by next year. To foster young agrotourism entrepreneurs, Phoon – who is also the West Pahang Eco-Tourism and Leisure Farm Association president – recommended initiatives such as mentorship programmes, access to grants, funding or low-interest loans, and partnerships between universities and existing agrotourism businesses. 'Spreading awareness through education is key, where the younger generation is taught from an early age the benefits of farming, how agrotourism can lead to a meaningful and fulfilling career, and its vital role in food security. 'As for higher education, strengthening training programmes that focus on agriculture, tourism, and business management skills would help equip graduates to embark on this journey,' he said. Phoon shared that Farm in the City, an agrotourism provider in Seri Kembangan, Selangor, which offers a farm, petting zoo and cultural experiences, has supported initiatives that encourage youth participation – along with its sister company The Bentong Farm in Pahang, 'We offer internships and accept about 40 to 50 tertiary students every year from courses such as agriculture, animal husbandry, veterinary care, biodiversity, landscaping and forestry. Many of them transition to full-time positions after graduation. We offer part-time work and volunteer programmes too. 'We also conduct programmes for children, such as our 'Junior Farm Rangers', 'Farm Ranger Experience' and career talks, to educate them about the environment, plant and animal responsibility, give them the experience of being a zookeeper for a day, and introduce them to potential careers in the industry,' he said. Lending expertise, funding Citing long-held perceptions that agriculture is dirty, dangerous and difficult work, Agrobank president and CEO Datuk Tengku Ahmad Badli Shah Raja Hussin said efforts must be made to promote agriculture – and by extension, agrotourism – as a viable career path for youth. 'We need more youth to participate in the agriculture business. With digitalisation and the Internet of Things (IoT), agriculture is becoming a tech-driven industry. 'Youth are more tech-savvy than the generations before them. They can adopt technologies and increase production,' he said. Tengku Ahmad Badli Shah Tengku Ahmad Badli Shah added that Agrobank, through its Young Graduate Agropreneur Development Programme, has partnered with schools and universities to offer hands-on learning experiences such as farm visits, lab work, direct crop sales to the market, and business workshops. 'By giving students a 'combo' taste of what working in agriculture is like, it will not only spark their interest in the field, but also serve as a starting point for them to launch their businesses,' he said. He also said the Agrobank Centre of Excellence plays a vital role in moulding young talent into sustainable agropreneurs through a series of workshops, training sessions and group coaching focusing on entrepreneurship. 'These cover modules such as mindset transformation, business model canvas, basic financial management and digital marketing,' he shared. Noting the financial challenges young Malaysians face in entering the agrotourism sector, Tengku Ahmad Badli Shah said Agrobank – a Malaysian government-owned bank focused on agriculture – offers tailored financial schemes to support them. 'For example, our Program Agropreneur Muda offers financing of up to RM300,000 at a profit rate of 5.50% per annum with a tenure of seven years, to encourage and sustain youth participation,' he said. He added that the bank also offers microfinancing of up to RM500,000 for aspiring agrotourism entrepreneurs, which can be used to boost working capital and support capital investments in their businesses. 'We also provide small and medium enterprise financing at preferential rates. We usually charge a profit rate of 3% to 3.5% with a longer tenure of about eight to 10 years. 'Additionally, we support women empowerment through special financing schemes. These are offered at attractive rates, enabling women to promote their agrotourism businesses,' he said. Mohamad Zabawi Also addressing funding challenges, Malaysian Agricultural Research and Development Institute (Mardi) director-general Datuk Dr Mohamad Zabawi Abdul Ghani said the government body helps young Malaysians enter agrotourism through the Agriculture and Food Security Ministry's Agrotourism Grant. 'This grant offers up to RM200,000 in financial support to those who qualify. 'Young agropreneurs can also consider applying for financial aid from the Tourism, Arts and Culture Ministry, which provides support of up to RM250,000,' he said. He added that Mardi also offers expert assistance through its Technology Transfer and Entrepreneurship Development Centre and its Agropreneur and Market Development Centre, providing advice, guidance and support to help individuals start and grow successful agrotourism businesses. 'Mardi's training programmes focus on skills such as farm management, hospitality, marketing, and sustainable tourism practices. 'We also conduct workshops and certifications for young people in areas such as sustainable agriculture, ecotourism and customer service. This ensures the workforce is equipped with the skills needed to meet global tourism standards. 'Furthermore, we are involved in programmes like internships and mentorships, where young entrepreneurs are paired with researchers and agropreneur leaders to gain hands-on experience and guidance,' he said. More support needed Despite these efforts, the stakeholders say more government intervention is needed. Phoon said government support is essential in providing grants, financial assistance, and opportunities for knowledge sharing, networking and collaboration. 'Streamlining regulations and standards would encourage the development and improvement of the industry, making it more accessible to startups. Providing incentives for sustainable practices – such as tax breaks or subsidies for similar projects – would also help. 'The government could further support agrotourism by promoting it through campaigns and forming collaborative partnerships with the tourism board to drive public interest,' he said. He also stressed the importance of strong collaboration between the government and industry players. Agreeing, Tengku Ahmad Badli Shah said successful strategies require collaboration. 'Infrastructure support is best provided by the government. Many agrotourism providers struggle with capital to develop proper infrastructure such as access roads and drainage systems, which are capital-intensive. 'They should work with local authorities; even a small grant from the government could help develop their agrotourism sites. 'We recommend the continuation and expansion of government-backed financial incentives, grants and tax breaks, specifically tailored for youth-led agrotourism ventures,' he said. He added that more comprehensive training programmes should be developed to equip young entrepreneurs with the skills required in agriculture, tourism management and digital marketing. 'Agrobank can partner with educational institutions to create specialised courses and workshops for youth in the agrotourism sector,' he said. Getting Gen Z on board Fiona My uncle is a farmer. Spending time on his farm taught me to value food and the people behind its production. Agrotourism is meaningful not only as income, but also as a way to reconnect with our roots. Creating immersive experiences like farm stays or community activities could attract more youth. Programmes that offer competitive wages, certifications or skills – like organic farming or ecotourism – could make these jobs appealing. Additionally, highlighting agrotourism's role in sustainability and food security would resonate with eco-conscious youth. -Fiona Flonika Joshman, 22 Navena The main issue discouraging youth from working in agriculture is the perception that it is low-status, low-paid and old-fashioned. By highlighting its role in food security and climate change, and investing in infrastructure, we could begin to break these barriers. Government- or NGO-backed programmes that offer certifications could also attract more youth. -Navena Viswam, 17 Li Zhen Agrotourism jobs are not widely known in cities. I would have considered them if such opportunities were closer to home. Youth are likely to be drawn to the CV-building benefits, hands-on experience and skill development that agrotourism offers. Partnerships with nonprofits, youth-led groups or schools could increase outreach. Youth today are motivated by purpose, so showcasing the societal impact of these programmes could boost participation. -Ong Li Zhen, 21 Daniel Compensation plays a crucial role in attracting creative talent to expand this sector. The government and industry players must provide better financial support, like subsidies for farmers and young talent in agrotourism. Promoting Malaysian products on both domestic and international platforms can also highlight the industry's appeal. With the right incentives, more youth will be encouraged to contribute to agrotourism. -Daniel Fadzlan Abdullah, 22 Isabel It's not enough to say, 'Come, farm.' Many see it as hard labour. To spark interest, schools could introduce farm visits and farm-to-table activities. These early exposures can ignite curiosity. Also, blend farming with what youth already love – host content creation camps on local farms, teach sustainable recipes, or run pop-up cafes using local produce. Offer more affordable 'day trips' and collaborate with local councils to promote farms as youth-friendly destinations or community hubs. Finally, integrate innovation. Youth love tech, so bring in smart farming, agritech tools, and sustainability challenges to make farming feel futuristic and fun. If we want youth to care about agrotourism, we need to show them its real opportunities, starting by presenting it as a platform for innovation and impact. -Isabel Lim, 14
Yahoo
30-05-2025
- Business
- Yahoo
Prediction: SoundHound AI Stock Will Beat the Market. Here's Why.
SoundHound AI delivered outsized gains to investors in 2023 and 2024, but it is down significantly so far this year. The voice AI solutions specialist, however, is growing at a faster pace than the conversational AI market. SoundHound's growth potential could help the stock regain its mojo and jump higher over the next five years. 10 stocks we like better than SoundHound AI › It has been just over four years since SoundHound AI (NASDAQ: SOUN) made its stock market debut, and the voice artificial intelligence (AI) company's returns have been disappointing thus far, as it has gained just 28% during this period, as compared to the 45% gains clocked by the tech-heavy Nasdaq Composite. What's worth noting is that wild stock price swings have been a common characteristic of SoundHound's journey on the market as a public company. The stock had a forgettable 2022 after its stock market listing, followed by a massive 1,000% jump in 2023 and 2024. This year, however, is turning out to be another woeful one for SoundHound investors, as the stock has lost nearly 52% of its value as of this writing. The good part is that SoundHound seems capable of going on a bull run once again, replicating the impressive gains it clocked in 2023 and 2024 that were big enough to help it crush the broader market's returns. Let's look at the reasons why SoundHound stock could go on a market-beating run once again. SoundHound AI offers conversational AI solutions such as voice-based AI agents, in-vehicle voice assistants, voice-based e-commerce, and voice-enabled AI chat assistants, among other things. Its solutions are deployed across multiple verticals such as restaurants, healthcare, contact centers, and connected devices. The market that SoundHound serves is currently in a nascent state. Market research firm Imarc Group estimates that the conversational AI market was worth just over $13 billion last year. Its size is expected to jump by 11x through 2033, clocking a compound annual growth rate of 29%. SoundHound's growth in the past three years suggests that it is benefiting nicely from the end-market opportunity on offer. As the chart indicates, the company's growth has picked up impressively in recent quarters. This remarkable growth can be attributed to the company's rapid expansion in industries such as restaurants and automotive, where the adoption of voice-based AI solutions is growing at a nice clip. SoundHound management pointed out in its first-quarter earnings report that its customers in the restaurant industry have been adding its voice AI-based answering and ordering solutions to more locations. The company is also expanding into new areas such as healthcare and retail. The robust adoption of SoundHound's solutions across multiple verticals is the reason why it reported impressive revenue growth of 151% in the first quarter. Another thing worth noting is that SoundHound is building multiple revenue streams. It gets royalties from the usage of its solutions in automotive, smart TVs, and other connected devices, along with subscription revenue from applications such as food ordering and customer service. The company is looking to further monetize its offerings through advertisements. Meanwhile, SoundHound's foray into the voice-based agentic AI market should ideally open another solid growth opportunity. The company recently announced its Amelia agentic AI platform through which customers can develop and deploy voice AI agents that can reason on their own and perform complex tasks. The integration of AI in customer support is expected to jump by 20x over the next decade, with the market expected to generate more than $53 billion in revenue in 2034. This is another example of how SoundHound is going after lucrative opportunities in the conversational AI market that should help the company continue to grow at elevated levels in the long run. SoundHound AI has turned to acquisitions to bolster its position in the conversational AI market. Its latest acquisition was that of Amelia last year, which improved its presence in the customer service market in verticals such as retail, finance, insurance, and healthcare. Similarly, its previous two acquisitions of Allset and Synq3 shored up its presence in online ordering, connected devices, and restaurants. It won't be surprising to see SoundHound making more acquisitions in the future, thanks to its healthy balance sheet. The company is almost debt-free and has a net cash balance of more than $240 million, which will come in handy if it decides to improve its presence further in the conversational AI space. As such, there is a good chance that SoundHound AI could become a much bigger company in the long run. The company is expecting to almost double its revenue in 2025 to $167 million, which is much faster than the pace at which the conversational AI market is set to grow. Assuming SoundHound AI averages annual revenue growth of even 30% over the next five years, which will be almost in line with the projected growth of its end market, its top line could hit $583 million in 2030. If SoundHound stock trades at even 15 times sales at that time, which would be a big discount to its current price-to-sales ratio of 34, its market capitalization could jump to $8.75 billion. That points toward a potential upside of 127% over the next five years based on its current market cap, which could be enough to help it beat the broader market's gains during this period. Before you buy stock in SoundHound AI, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and SoundHound AI wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,761!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $826,263!* Now, it's worth noting Stock Advisor's total average return is 978% — a market-crushing outperformance compared to 170% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Harsh Chauhan has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Prediction: SoundHound AI Stock Will Beat the Market. Here's Why. was originally published by The Motley Fool
Japan Times
07-03-2025
- Business
- Japan Times
Tokyo's vinyl experts say overseas buyers are ‘sustaining the scene'
For all the millions of tourists flowing into Japan, what are the most popular souvenirs they're bringing back home? Tea, omamori charms and bottles of rare whisky are perennial favorites, but there's a new hot item that overseas visitors are increasingly eager to snap up: vinyl records. By some metrics, Tokyo boasts the highest number of record shops of any nation's capital at 93, and valuations for global vinyl record sales stand at $1.9 billion, according to market research company, Imarc Group. The Record Industry Association of Japan says that 2023 saw the number of analogue records produced jump 26% from the previous year. Imarc Group expects this growth to continue, projecting the Japanese vinyl market will grow from $85.5 million in 2024 to $165.3 million by 2033. Tower Records' flagship store in Shibuya reflected this optimism for analogue by unveiling its refurbished record floor in February 2024, which had almost doubled in size to cater for the growing numbers of international buyers snapping up vinyl.
