02/09/2025

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TUESDAY | SEP 2, 2025

IWG: Growing demand for flexible workspaces

PG Jewel aims to have 200 outlets nationwide within next few years

to accept it compared to 916. The content is higher, 99.9% gold compared to 91.6%. That makes a difference, and the market is shifting towards it,” she said. She added that gold bars continue to see increasing demand among investors, but jewellery remains firmly embedded in Malaysian culture, which may be passed down through generations or purchased for daily wear. To navigate price fluctuations, PG Jewel has turned to research and development in lighter weight pieces so that final prices remain within reach for con sumers even as the per-gram rate rises. “We try to do some R&D on lighter-weight designs. The final price wouldn’t be that high because it’s much lighter,” Ng explained. She said transparency has been a key part of its business model. Unlike traditional jewellers who may adjust prices differently for each customer, PG Jewel publishes its daily selling and buyback prices openly on its website. “We want a fair, open transaction with our customers. That’s why we list all our prices on the website. It’s accessible for everyone,” she added. The company, which started as an online-only player during its early years, continues to leverage live selling and e-commerce to complement its physical ex pansion. “Both channels help each other. The physical store comple-ments the online business a lot,” Ng said. On the corporate front, she said, PG Jewel itself will not pursue a direct listing. Instead, its parent Aurora Italia, which is currently listed on the LEAP Market, is exploring a transfer to the ACE Market. “We are still in discussion. Nothing has been confirmed yet. It’s pre-early stage, we are not doing anything right now, just seeing whether we are qualified,” Ng said.

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

Ű BY JOHN GILBERT sunbiz@thesundaily.com

o Rising number of SMEs in Malaysia leveraging such facilities to access wider talent pools, boost productivity and optimise costs

KUALA LUMPUR: PG Jewel Sdn Bhd, the jewellery arm of Aurora Italia International Bhd, is tar geting expansion to 200 outlets nationwide in the next few years, up from just three it currently has. Director Jessie Ng said the jeweller has launched its first flagship store in Kota Kinabalu, Sabah, two months ago and will open its next branch in Johor in the coming weeks. “Our target is to open 200 branches across Malaysia. We plan to keep expanding because physical stores make our jewellery more accessible,” she told SunBiz in an interview. Ng said the gold market has been volatile in recent years, driven by inflationary pressures, geo-political tensions and shifting global trade policies. However, she stressed that demand for gold jewellery in Malaysia is resilient. “People usually buy jewellery not just for investment. They buy it to wear, to feel it, to style it.” “Even financially challenged people buy gold jewellery and, when in need, they can pledge it at Ar-rahnu for short-term financing. This is part of daily needs, not just luxury,” she said. Ng said while investment bars are more sensitive to global price swings, jewellery demand has been steadier, especially for PG Jewel’s hallmark 999 (24K) offerings. “Women don’t really want investment in gold only. They want to wear it, to show it, to style it. In the long term, customers who buy jewellery are not doing so purely for its investment value,” she added. Ng observed that customers are becoming more informed and price sensitive with social media giving consumers access to real time pricing information. “For us, because we have 999 gold jewellery, customers are able

KUALA LUMPUR: Hybrid work arrangement has evolved from a trend into a core business strategy, reshaping workplaces, fostering flexibility and empowering teams to operate in new ways. Accelerated by the Covid-19 pandemic and strengthened by advances in digital collaboration tools, flexible work models now give businesses a competitive edge – helping them tap into wider talent pools, boost productivity and optimise costs while meeting the expectations of today’s workforce. In Malaysia, the rollout of flexible work arrangement guidelines marks a pivotal step in embedding hybrid models into long-term workplace strategies. International Workplace Group (IWG) Malaysia country head Vijayakumar Tangarasan said this shift is driving demand for decentralised hubs – co-working spaces, satellite offices and mixed use developments – in high-growth regions such as the East Coast Economic Region and the Johor Singapore Special Economic Zone. “These emerging hubs, supported by public policy and infrastructure upgrades, will diversify economic activity beyond traditional business centres, creating fresh opportunities for companies to expand and thrive in a more flexible, distributed eco nomy,” he told SunBiz . Vijayakumar said SMEs – the backbone of Malaysia’s economy – are increasingly leveraging flexible workspaces to scale without long term leases or heavy upfront costs. “The growing need for a network of accessible locations, rather than a single fixed office, is especially critical for SMEs expanding into new markets within Malaysia, across Asia-Pacific or globally,” he said. Switzerland-headquartered IWG’s network of 51 centres in Malaysia continues to grow, with new sites in Penang, Kota Kinabalu, Kuching, Malacca, and Johor. Its latest addition, Regus Troika Kota Bharu – the first on Malaysia’s East Coast – offers professional, tech-enabled spaces that meet SMEs’ priorities of growth, cost efficiency and flexibility. “This momentum is part of our broader global growth strategy. In the first half of 2024 alone, IWG added 899 new locations, streng thening our position as the world’s largest provider of flexible workspace solutions with over 4,000 locations across 120 countries,” he said. For Malaysian SMEs with regional or international ambitions, this provides an immediate platform to operate seamlessly across borders while maintaining quality, con nectivity and brand presence. Vijayakumar said robust digital

properties,” he explained. Globally, the flexible workspace sector is valued at over US$2 trillion (RM8.4 trillion) and is projected to grow more than 600% by 2030, representing 30% of all office space. By collaborating with state govern ments and property owners, IWG aims to accelerate infrastruc-ture and digital readiness, enabling businesses in regional markets to leverage hybrid work for productivity and growth. “We’re not just creating work spaces; we’re extending the benefits of hybrid working to more com munities across Malaysia,” said Vijayakumar. “This is how we help companies unlock their potential while contri buting to balanced, nationwide economic development.” Looking ahead, Vijayakumar expects hybrid work demand in Malaysia to continue rising. “Hybrid working is no longer just a trend – it’s becoming a core business strategy,” he said. With more organisations embed ding it into long-term plans, high quality flexible workspaces will be increasingly sought after, especially in decentralised areas closer to where people live. Research by IWG and Arup shows that in the UK and the US, the number of office workers in com muter towns away from city centres could rise by up to 175% and 60% respectively, boosting local gross domestic product by as much as 3% and 6%. “While Malaysia’s numbers will differ, the impact could be similar – more people working locally means more spending in communities, more regional business activity, and less pressure on our urban centres,” he said. Stanford University research indicates that around 40% of workers globally will continue hybrid working permanently, making it the default expectation for talent. “We see companies in Malaysia moving away from single-location offices toward distributed networks that combine central hubs, local flexible workspaces, and home based arrangements,” Vijayakumar said. “By enabling employees to work closer to home in professional environments, businesses can extend their reach, operate more sustainably, and directly support Malaysia’s vision of a decentralised digital economy and balanced nationwide growth,” he added.

infrastructure remains critical to this transformation. “High-speed connectivity, secure cloud platforms and hybrid colla boration tools are now essential for competitiveness. In fact, 95% of global CEOs in our recent survey reported increased investment in cloud, AI and automation to reinforce hybrid working models.” He added that continued public private collaboration on infra structure and digital capabilities will be key to levelling the playing field for entrepreneurs beyond the Klang Valley. As Malaysia’s secondary markets, such as Kelantan, Sabah and Sarawak, expand through economic decentralisation and growing talent pools, access to professional, high quality workspaces will be vital. “Businesses in these regions need the right infrastructure to operate and grow, and our goal is to ensure they can access it quickly and efficiently,” said Vijayakumar. IWG is meeting this demand through a capital-light model, part nering with local property owners under management agreements to deliver fully equipped workspaces for SMEs and larger corporates. “This approach allows us to scale rapidly without heavy upfront investment while enabling local landlords to tap into the rising demand for hybrid workspaces and secure long-term value from their Vijayakumar says the growing need for a network of accessible locations, rather than a single fixed office, is especially critical for SMEs expanding into new markets.

Ng says PG Jewel plan to keep expanding because physical stores make its jewellery more accessible.