Transitioning an NGO into a business -often- called a social enterprise -is an excellent way to diversify revenue, move away from unpredictable grant cycles, and achieve self-sustainable grant cycles, and achieve self-sustainability. By leveraging existing assets, skills, and community trust, NGOs can then build impactful, profitable revenue streams. The strategic pathways and actionable steps to help successfully guide this transition was deliberated at the Google Meet of MyAeroSatu Executive Council meeting chaired by its President Prof Dr. Haji Zulkifly Baharom. Others present were Deputy President Dato' Mustiran Abdul Kadir, Secretary Dzul Bahrin, Treasurer Najmi Rahimi, Exco Zaini Rahmat, Auditor Adi Satria & Member Dato' Dr. Amin Khan.
Secretary Dzul Bahrin cautioned the meeting that operating a business under an NGO structure where MyAeroSatu is the sole shareholder might create tax liabilities and regulatory compliance challenges. Other options explored include to tap into collaborative partnership with existing relevant private listed company, or tap into networks like Yayasan Usaha Ventures Malaysia and connect MyAeroSatu business to capital & market ecosystem. Moving to self-sufficiency means leaving the “charity mindset” behind. Exco must define clear scalable operations, and a target market just as any business would. It was agreed, Secretary Dzul & Treasurer Najmi has been assigned to prepare the proposals to obtain a decision from the Extraordinary General Meeting.
Concurrently, MyAeroSatu should participate & co-create with the Gear uP Pathway for Aerospace to fast track achieving Malaysian Aerospace Industry Blueprint (MAIB) 2030 as an important economic activity for Malaysia to become the No.1 aerospace nation in Southeast Asia. MyAeroSatu must continue to engage with NAICO, MIGHT, Khazanah, PNB & leading aerospace companies as our selling point is to harmonize civil & military aviation regulations.
As the global aerospace landscape transform, Myaerosatu's roadmap prioritizes transition into high-tech, eco-friendly fields. Exco is mindful of the talent pipelines programs like MyAERO Challenge and regional outreaches (such as MyAERO Borneo Talent initiatives) are actively running to prepare local university graduates & youth for future-ready aerospace roles. This initiative is a high-impact regional program designed to bridge East Malaysian youth, students and educators based at I-CATS University College in Kuching, Sarawak with Malaysia & Asia Pacific region rapidly growing aerospace industry. (https://www.myaerocenter.com.my)
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