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Company Website: www.mysoy.com.my

Facebook: facebook.com/mysoy.my

Whatsapp: wa.link/c49t3g

 

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Why should you invest in MySoy?
1. Two Generations, Half a Century : A brand helmed by two generations focusing on using the best beans Nature has to offer.

2. Leading Brand in Klang Valley : Clients include Jaya Grocer, NSK, BMS Organic and other major entities.

3. Quality Assureance In Solving B-end Customer's Painpoints : Has our own QC Department which helps in resolving customer pain point & costs by as much as 30%

 

Project Overview
Despite MySoy recording earnings of RM3.6 million in 2021, we realised that there was a larger demand in the beancurd market. In order to expand, we are actively sourcing for investors who are interested in the traditional premium soybean industry and conquer a larger market together.

Upon securing more resources, we are planning to utilise the improvisation of production technology and upscaling of automatic production to develop the local halal soybean product market. At the same time, we’re also looking to expand into the ASEAN region which has potential customers and market demand. 

Along with the expansion of B2B, we will be looking at producing B2C products, which will then be sold to food trucks and specialty stores, leading to several diversified revenue streams. 

With a series of developments adhering to traditional “Shokunin” spirit, MySoy aims to become the leading soybean product brand in Malaysia and make known the natural and healthy aspect of Chinese cuisine.

 

About the Founder 

My name is Calvin Wong, and I am the CEO of MySoy. After graduating with a Bachelor of Finance from Taylor’s University in 2010, I decided to help out in the family business and founded MySoy in 2018. 

As the second generation of the enterprise, I’ve long been exposed to the intricate craftsmanship of bean curd production thanks to the family business. Throughout the decades of me growing up, I’ve seen how each soybean was turned into delicate bean curd slices. Unsurprisingly, the production of bean curd has since become the path I chose to pursue, along with the sprouting of infinite prospects for this industry in my heart.

However, the journey of sustaining a business is never easy. Unlike a startup, taking over a family business that holds so much history as the second generation is bound to have limitations imposed by the mode and structure of the business, and where each choice’s impact must be carefully considered as well.

At the time, I had just officially joined the bean curd production and quickly fell into a “bottleneck” period of self-doubt. Perhaps it was because my ideas weren’t as comprehensive or the many ideas of mine which were rejected that contributed to it. I also found myself not having a clear vision and goal during that period.

Fortunately in 2017, I crossed paths with Mr. Zhan Wenjiong, the owner of a soy-based product factory in Taiwan, through the Internet. I immediately decided to travel and pay him a visit as I resonated with his experience as a second generation entrepreneur as well as his mission and vision for the industry.

During our conversation, Mr. Zhan shared with me his experiences, where he told me that during a try-out session of one of the organic soybean products which was under development, he discovered that his health had improved significantly. It also made him realize the importance of food to everyone as well as the sense of responsibility in operating the food industry.

After a more in-depth understanding of Mr. Zhan's insights, I soon found my own mission in the bean curd industry. I firmly believe that when my products are distributed to every household, it will not only satisfy the consumers’ appetite but also fulfil my responsibility for their health too. I also ensure that every bean curd slice is full of the kindness and humanity of a craftsman while allowing them to consume it with peace of mind.  

With this newfound mission, I went on to establish MySoy in 2018. The goal that I’ve set for myself is to make the bean curd industry in tandem with science and technology while retaining the traditional craftsman's spirit of pursuing perfection in each bean curd slice. Through MySoy's mission, I’m convinced that customers, manufacturers and diners will feel our sincerity and enthusiasm for the production of bean curd slices and eventually choose to believe in our products and support our journey to becoming the leading brand in bean curd slices.

MySoy's CEO, Calvin in Cityplus FM (2022)

 

MySoy's CEO, Calvin in Ai FM (2019)

 

 

The Story of MySoy
MySoy's bean curd business can be traced back to the 1980s, where it was founded by my father, Mr Wong Chin An, who stepped into an industry widely considered “untrendy” at the time. During the early stages, my father devoted himself to discovering the best technologies which were in line with traditional craftsmanship and even personally consulted experienced teachers in the industry to improve his craft.

With solid craftsmanship and quality as the foundation, I, being the second generation in the family, took over the business and with my father’s guidance, I began to learn the internal and external operations of the bean curd business.

After 7 years of formal involvement in the industry, I officially founded MySoy in 2018 and quickly started its development and transformation with a firm mission. With a 20% annual performance growth, I successfully reached an annual income of RM3.64 million in 2021. 

MySoy first built a quality control team with the most stringent quality requirements to carefully screen each piece of bean curd slice and ensure that each product is excellent, usable and healthy. At the same time, we also made sure that it complied with the huge market demand, introduced better and larger-scale equipment to increase production, and began to develop automated bean curd slices production in order to continue exploring a larger market locally and abroad.

From 2019 to 2020, we also invited Cecelia, Nelson, Heng Kum, Kalvin and other key members to expand the team to better cope with our rapidly developing business.

MySoy's mission is to create reassuring soy-based products and deliver Chinese cuisine to every family while adhering to the core values of quality, integrity, innovation, teamwork, enthusiasm and inheritance. MySoy also believes that as long as its mission and values are abided by, they will one day become the leading soy-based product brand in Malaysia.

MySoy was interviewed by Astro's "Food Producer Season 3" in 2020.

 

 

Potential to Develop 
Although bean curd is a food with deep historical origins, it is also a plant protein market that has been steadily rising in recent years.Couple with its growing popularity among vegetarians, the investment of manufacturers in the Asia Pacific region and the increasing interest of consumers, the plant protein market has since achieved a compound annual growth rate (CAGR) of 7.2% and reached a market size of $10.3 billion in the global market. (Source: Plant-based Protein Market, MarketsandMarkets Analysis, 2021)

While actively preparing for the huge market, MySoy still pays great attention to strict quality control of traditional processes as we are well aware of the perishable and fragile nature of bean curd slices. As such, many B-end customers who have bought them often have to eliminate nearly half of the products. Therefore, in order to solve these problems, MySoy has set up a quality control department that collects customer feedback which will then help them in the screening of products.

After setting up a series of excellent quality control processes, we have successfully solved one of the main problems faced by customers. According to statistics garnered from customer feedback, MySoy's quality control program has helped them save 30% of the processing time and cost, ensured the quality of a majority of the bean curd products, and reduced unnecessary losses - results which have won the favour of many customers.

For now, MySoy's business accounts are mainly B2B, where it plays the role of supplying raw materials, upstreaming manufacturers and providing OEM services. MySoy also provides bean curd slices to businesses in need of large amounts of bean curd products like manufacturing factories, retailers and restaurants. 

MySoy is also actively developing its B2C channels. In addition to setting up a bean curd slices sales platform directly for consumers, MySoy has also developed a unique snack that is ready to be promoted and sold on major e-commerce platforms.

MySoy plans to export its bean curd slices to Singapore within this year and establish a stable supply chain.  It has also begun to sell healthy snacks which come in 6 flavors. The market’s response to the snack was proven to be largely positive, where approximately 2,000 cans were sold in the trial stage during the Chinese New Year period.

Next, MySoy plans to set up a sightseeing factory for visitors in 2023 and enter the Thailand market; be fully exported to other countries in Southeast Asia by 2024; achieve 100% automatic product production by 2025; develop and officially launch 10 brand new soy-based bean products in 2026; and officially become a listed company with a revenue of RM20 million by 2027.

 

MySoy’s Core Team
The rise of MySoy in the soy-based product market and becoming the leading bean curd slices supplier in the Klang Valley did not just rely on high-quality craftsmanship inheritance, but also on a team of reliable and motivated individuals. 

Aside from being the second generation successor of bean curd slices manufacturing, Mr Calvin Wong is also a leader with firm goals coupled with his passion and persistence for traditional craftsmanship. As such, he brought together a group of young people who shared his enthusiasm in inheriting the technology of making bean curd slices and passionate about developing MySoy.

At the beginning, Mr Calvin Wong invited his cousins, Pei Shi and Nelson who were in the same industry to join him. They later agreed to join the MySoy team after gaining a deeper understanding and recognition of Mr Calvin’s vision. 

MySoy continued to gather more like-minded and capable individuals by virtue of its vision and philosophy, allowing the team to expand and work towards their common goal: to provide healthy bean curd slices to the world.

The core team of MySoy: (from left) Production manager Chan Heng Kum, Quality control & Packaging manager Kalvin Chung, Administration Executive Celine Wong, Chief Executive Officer (CEO) Calvin Wong, Executive Manager Cecelia Chung, Sales Executive Nelson Chung. 

 

Funding Goals and Utilisation
For this crowdfunding, MySoy is planning to incorporate a minimum of RM1 million and a maximum of RM2 million. 50% of the funds will be used in upgrading factories to halal status for a period of 6 to 9 months, 30% of the funds will be used to expand automatic machinery, while the remaining 20% will be dedicated for operating and marketing expenses. 

 

Term Sheet 

 

Investment Package

 

Return on Investment (ROI) & Exit Plan

 

Contact Us
MySoy adheres to its longstanding passion for traditional craftsmen in its products and is currently steering itself towards a larger market. MySoy believes that as long as existing quality assurance is maintained and more large-scale automatic production is carried out, it will certainly become the leading bean curd brand in Malaysia and eventually open up a larger bean curd supply industry for the Southeast Asian market.
If you also see huge potential in the bean curd market and the mission of inheriting traditions, contact us to collaborate together!

 

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Founder's Pitch Deck