In the dynamic world of entertainment and entrepreneurship, Versatile Maxim Sdn Bhd (VM) stands as a beacon of innovation and ambition. Founded by the visionary KL Lim and three other partners, Dato’ Ray Chong, Paul Wong and Dato’ Winson Chan. VM emerges as an exciting new chapter in their illustrious business ventures, evolving from the solid foundations of Affluxury Berhad. In an interview with Top 10 of Malaysia, KL Lim shares about the genesis of VM and its remarkable journey.
Versatile Maxim Sdn Bhd, affectionately known as VM, marks an exciting new chapter in the business ventures of its founder, KL Lim. “VM is an investment arm birthed from the foundations of Affluxury Berhad, my other capital transformation company,” says KL Lim. “VM’s primary focus is on hosting concerts and music shows, we leverage our pre-existing network and resources to transform the Sungai Wang’s twin cinemas into a colossal entertainment venue capable of accommodating 4,000 to 5,000 attendees.”
Since its inception, VM has hosted a remarkable lineup of events, including performances by renowned artists like Super Junior-D&E. Upcoming performers include Jess Lee, Joel Chan, Shaun Tam and Benjamin Yuen. “Our mission extends beyond just concerts; we aim to revitalise the Sungei Wang area, with plans for an exclusive members-only club, aptly named the 101 Club, designed to cater to artists and their post-concert celebrations,” he enthusiastically shares. With the imminent opening of the 101 Club, VM’s future expansion plans include the launch of exclusive hidden restaurants for members only that offer omakase and hidden fine dining experiences.
The visionary team has also ventured into LED panel advertising and is actively working on creating innovative, affordable advertising opportunities.
KL Lim, along with his three equally ambitious partners; Paul Wong, Dato’ Ray Chong and Dato’ Winson Chan are driving a unique initiative. “Our primary objective is to bring together a collective of entrepreneurs, fostering a collaborative ecosystem where each member becomes a stakeholder in the enterprise. By extending a share of ownership to those who join the club, a profound sense of connection and commitment to the company is instilled, encouraging active participation and engagement,” says KL Lim.
“This forward-thinking strategy is not only about the present but also lays the groundwork for a future IPO roadmap. VM is dedicated to investing in the world of concerts and music shows, with the impressive Mega Star Arena, spanning the first and second floors of Sungai Wang, as our centrepiece venue,” he continued.
One of the founders, Paul Wong, has 35 years of experience in the entertainment industry and is also a founder of Mega Star Arena. Furthermore, Dato’ Alan Foo, the founder of Star Planet, is a renowned concert organiser and also a founder of 101 Club with over 25 years of experience in the entertainment industry.
When asked about the challenges he faced, KL Lim revealed that the real challenge lay in persuading partners to embrace the strategy. “Determining the required initial investment was a critical decision that demanded careful consideration. At the outset, it was notably challenging to secure financial backing from potential investors. Looking ahead, we have exciting plans for the coming year, with fundraising efforts set to commence,” he excitedly says. “Our next step involves moving to a larger and more prestigious class 1 venue, Axiata. Our ultimate goal is to position VM for a potential listing within the next four to five years.”
Sharing his insights on entrepreneurship for aspiring young entrepreneurs, KL Lim says, “In my view, having the courage to start, a clear dream and a persistent commitment to take massive action are essential. It’s an unwavering belief that success is not easily attained and that obstacles and challenges are an integral part of the journey.”
His personal motto, “To be successful, you have to do the right thing, in the right way – effectively, every single day” underscores the rigour and dedication required for long-term success. “Finding one’s true passion and pursuing what makes one happy is important, as it leads to sustainable growth and the ability to influence others positively. Although collaboration with others can be both rewarding and challenging, it’s crucial to create value and ensure a return on investment for the company and its investors.”
