THE Covid-19 pandemic has disrupted many economies globally and in Malaysia, the Movement Control Order (MCO) restrictions contributed to a higher unemployment rate as many businesses had to halt operations temporarily.
However, not all is gloom and doom.
Yap Vin Li, 35, and her brother, Yap Zer Ken, 32, who launched a startup during the pandemic, have proven that adversity can sometimes fuel a breakthrough.
Kapas Living, set up in October last year, is a company born out of a crisis. It was founded to offer consumers a chance to savour the five-star hotel experience in their own homes.
The company sells linen bedsheet sets and duvet covers, among others, and plans to add towels and other home living items soon.
Zer Ken says their first startup was Plush Services, an Airbnb management company that managed more than 200 apartments across Klang Valley, Ipoh and Penang. When the pandemic spread to Malaysia, the business was not spared due to the subsequent travel ban.
"As we braced for a prolonged downturn, we explored other ways to sustain our business."
On that note, Vin Li, a former investment banker for nine years, pooled resources and focused on the stock market.
With her experience in the capital markets, the siblings seized on pandemic-themed opportunities in the stock market.
"There are a few key principles that we abide in when investing in shares. Be clear on what and why you are investing in a stock.
"Are you investing in a certain growth angle? Is it credible or is it a 'goreng' stock? Always do your own research. Never rely solely on other's recommendation. Diversify selectively and do not put all eggs into one basket.
"Be decisive with reason. If an investment does not go well, know when to cut your losses and move on. Remember to take profit when you are in the money. Research when exiting a stock, just as you do when entering a stock."
Vin Lin said at the start of the pandemic, they invested most of their liquid savings in growth stocks. Now, we have switched to dividend stocks."
She said many of these principles were applied to their experience with starting and managing Kapas and Plush.
"Diversification saved us. The decision to start Kapas has reduced our business risk and helped us survive."
With many people staying at home during the MCO, Kapas' business was thriving with the revenue growing multiple folds within a span of 12 months since its inception.
"It dawned on us that it was difficult to find genuine quality bedsheets in Malaysia. Most were overpriced and full of gimmicks like misleading high thread count. With our strong supplier relationships when procuring large quantities of bedding for Plush, we learned a lot about bedsheets," said Vin Li.
"Kapas is the combination of our passion for product development and customer experience. We rigorously test our products and continuously ask ourselves how we can make the experience better for customers.
"For example, we know putting on bedsheets can be a struggle for some and so, we designed intelligent labels on our sheets to make it user friendly."
As for Plush, she said enquiries had been pouring in, with occupancy rates now registering at 80 per cent.
"It will not be as good as pre-Covid-19 days as international borders are still closed but we are confident that things will return to normalcy."
Vin Li and Zer Ken said they shared a common goal, which was to build something for themselves.
"Being an entrepreneur has been challenging to say the least. There were many moments of stress and firefighting.
"Having a business partner that you can trust through such periods has made it all possible for us," she added.
The writer was a journalist with the New Straits Times before joining a Fortune Global 500 real estate company. This article is a collaboration between the New Straits Times and Tradeview, the author of 'Once Upon A Time In Bursa'.