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https://technode.global/2023/06/01/malaysian-regulator-seeks-to-transform-agri-sector-via-fintech-alternative-financing/ | Malaysian regulator seeks to transform agri sector via FinTech, alternative financing | 31 | Malaysian regulatorThe SC said in a statement on Wednesday that the regulator is encouraging wider adoption of financial technology (fintech) in agriculture in order to help in achieving the country’s food security agenda. Its Chairman Awang Adek Hussin said access to finance is critical to agriculture’s future. This is especially important for smallholders and agritech-preneurs seeking to modernize agriculture and strengthen research and development, he said in his opening address at the SCxSC Grow Fintech Conference. This marks the 10th iteration of the SCxSC conference that is held in-person after the Covid-19 pandemic. SCxSC GROW, is a new collaborative program, under the SC’s fintech flagship initiative “Synergistic Collaboration by the SC” (SCxSC). The SCxSC GROW embodies a collaborative effort with partners in the fintech ecosystem to harness the potential of alternative financing digital platforms to meet the needs of micro, small, and medium-sized enterprises (MSME) in strategic sectors. Recognizing the challenges faced MSMEs in the agriculture sector, Adek said that leveraging fintech solutions will help improve access to financing and increase efficiency in the sector. To achieve this goal, he said the SC has been working closely with ecosystem players to develop innovative solutions that cater to the unique financing needs of farmers and agribusinesses. This is in tandem with the national agenda to support the agriculture sector’s transition into a dynamic and progressive sector. Adek also said that the capital market can be an enabler and accelerator to help Malaysia achieve its food security agenda. “Alternative financing avenues such as equity crowdfunding (ECF) and peer-to-peer (P2P) financing allow investors with the right risk appetite to mobilize capital directly for agri-preneurs,” he said. He added that this provides more options for younger and high-growth companies to access capital relevant to their business risk profiles. According to the statement, over 7,000 MSMEs have benefited from SC-registered ECF and P2P financing since their introduction in 2015, raising more than MYR 4.4 billion ($954 milion), with only 600 agri-related MSMEs across the entire value chain raising close to MYR 300 million ($65.04 million). This presents a significant opportunity for agricultural growth and investment. According to Adek, Malaysia was also the first country in this region to adopt a co-investment model, MyCIF specifically for alternative finance platforms. MyCIF was instrumental in providing MSMEs with financing during the Covid-19 pandemic. “MyCIF implemented a special allocation ratio of 1:2 for the agriculture sector in 2022, which is more appealing than the normal ratio of 1:4,“We’ve seen increased interest as four times as many agri-businesses have raised funds through ECF and P2P platforms,” he said. The SCxSC GROW Fintech Conference, themed “Fostering Innovative Finance in Agriculture”, aims to be a game-changer for the agriculture industry. With the world facing increasingly complex challenges, the conference brings together agriculture and fintech players to explore innovative solutions to food security, sustainability and supply chain resilience. New cutting-edge solutions were showcased at the conference, highlighting the latest advancements in these fields. The conference also featured local fintech players in the agriculture sector. These fintech solutions have the potential to revolutionize the way farmers access financing and manage their operations, enabling them to make better use of resources and increase yields, said the statement. Securities Commission Malaysia revises venture capital and private equity framework |
https://technode.global/2023/06/01/maybank-launches-cross-border-qr-payment-service-for-malaysians-travelling-abroad-and-tourists-visiting-malaysia/ | Maybank launches cross-border QR payment service for Malaysians travelling abroad and tourists visiting Malaysia | 31 | Malaysian largest lender Similarly, incoming tourists from these countries will also be able to make cashless payments with Maybank QRPay merchants in Malaysia, Maybank said in a statement. According to the statement, the new offering will enable Malaysians visiting the respective countries to enjoy a cheaper, faster and more convenient payment option through the MAE app. With borders reopening for quarantine- free travels, cross-border QR payments offer travellers the ease to skip trips to money changers and carry cash altogether. Similarly, tourists visiting Malaysia whose banks are affiliated with the payment service providers can also benefit from cross-border QR using their local banking apps at Maybank QRPay merchants nationwide. This greatly benefits local participating merchants, as it allows them to receive payments from tourists in Malaysian Ringgit (MYR) into their accounts immediately. John Chong, Group Chief Executive Officer, Community Financial Services at Maybank, said that Maybank’s intent has always been to create products and services that will provide value and improve the lives of its customers, in line with its purpose of humanizing financial services. He said the cross-border QR payment service is an essential feature that will facilitate Malaysian travellers’ abroad via the MAE app, as well as tourists coming to Malaysia to conduct cashless payments through their respective country’s currency. It also serves as a key to improving efficiency while promoting the digital economy and financial inclusion in the ASEAN region, he added. “This is timely as we noticed the significant increase in technological demands among the public as they look for banking solutions that offer unprecedented speed and new levels of convenience while ensuring the safety and security of their transactions, especially post-pandemic,“Furthermore, the QR payment linkage between Malaysia, Singapore, Indonesia and Thailand complements a growing network of bilateral payment interdependence that will contribute towards a more dynamic ASEAN and further development of the region,” he added. According to the statement, this is also part of the group’s M25+ strategy to strengthen its business presence and position in the region and for Malaysia to provide differentiated businesses and product solutions supported by the modernization of Maybank’s technological platforms and applications across its key markets. Maybank’s QR payment service will provide convenience for more than 8 million Maybank app users and benefit over 700,000 Maybank QRPay merchants in Malaysia. Approximately 3.5 million Malaysian tourists travel to Singapore, Indonesia and Thailand in 2022 alone and with theThe bank’s cross-border QR payment service is made possible through the collaboration between Bank Negara Malaysia and Payments Network Malaysia Sdn Bhd (PayNet). Maybank is also in the works to roll out this payment feature across more countries soon. Malaysia’s largest lender Maybank introduces financing solution for electric vehicle |
https://technode.global/2023/06/01/manis-leting-and-triphie-tops-the-1337-ventures-alpha-startups-pre-accelerator/ | Manis Leting and Triphie tops the 1337 Ventures’ Alpha Startups™ Pre-Accelerator | 31 | Malaysian food tech firm Manis Leting and trip planning platform Triphie have topped the 1337 Ventures said in a statement on Wednesday that nine aspiring Malaysian startups showcased their innovative solutions in front of a live audience of investors, industry experts, and fellow entrepreneurs during its Alpha Startups™ Pre-Accelerator program. According to the statement, the pre-accelerator program received hundreds of applications from early-stage startups nationwide when applications were announced early this year. It is noted that 26 promising startups were selected to join the cohort. From the 26 Malaysian startups, the cohort was narrowed down to the top nine finalists to wow the crowd with their ideas. The Alpha Startups™ Demo Day hosted at Google Malaysia marked the culmination of the program, providing participants with a platform to gain hands-on experience to pitch their ideas to potential investors and launch their startup. Manis Leting and Triphie subsequently won the cohort and will receive pre-seed funding of up to MYR50,000 ($10,811). Amirah Jasmine and Atirah Danial’s Manis Leting creates healthier alternative food products that uses zero white sugar. “Alpha Startups™ has boosted our confidence as startup founders in the food and beverage industry, “The mentors in the program provided much needed guidance and support, giving us more clarity on how to bring Manis Leting forward,” said Atirah Danial Norman. With the funding received from 1337 Ventures, the duo now plans to focus on licensing and certification, production, operations, and marketing to scale. Meanwhile, Triphie is an artificial intelligence (AI)-enabled all-in-one, personalized and collaborative trip planning platform that helps travellers discover, plan, and book their holidays. “We’re at such an early stage, and that too in a very competitive market of travel and tourism,“Being part of the Alpha Startups™ pre-accelerator program gave us a clear vision of how to differentiate ourselves among our competitors,” said Nour Araar, the Founder of Triphie. The other startups pitched at the demo day were Beseek, Cocojack, Kita, MyDeliva, Odar, SAPOT, and TigerCampus. They pitched their ideas to a panel of judges, including Freda Liu, a celebrated author and broadcast journalist; Bikesh Lakhmichand, Founding Partner of 1337 Ventures; and Alpha Startups™ alumnus Gokula Krishnan, the founder of Vircle. “It’s hard to get to the core of your business when you only have a short amount of time to pitch and convince investors to invest in your business,“Everyone worked hard, and as a first-time judge who has interviewed a lot of companies, it was a great experience for me. ” Freda said. Gokula Krishnan’s Vircle was an Alpha Startups™ alumni back in 2020. “Reflecting on my journey as an early-stage startup during the pandemic, the Alpha Startups™ pre-accelerator program quickly helped me validate and finetune the idea of Vircle,“It was a great stepping stone to where Vircle is today. The pre-accelerator also created invaluable connections and mentors that are still supportive today,” said Gokula. All the startups from the recent cohort will receive perks up to MYR80,000 ($17,299) worth of digital credits from Google Cloud, CloudMile, Airtable, Swipey, Notion, Stripe, WORQ and more. The latest cohort of Alpha Startups™ is supported by MRANTI, Digital Penang, WORQ, and Google. Malaysian venture capital firm 1337 Ventures launches new $290,000 fund for Malaysian startups |
https://technode.global/2023/05/30/kaf-carsome-consortium-targets-to-launch-digital-bank-as-early-as-year-end/ | KAF-Carsome consortium targets to launch digital bank as early as year-end | 31 | The consortium led by KAF Investment Bank Bhd, which won one of the five Malaysian digital bank licences, plans to launch its digital bank as early as year-end or early next year. The consortium, which also includes Malaysia’s first tech unicorn “Still in progress on getting the live date. I think… it’s optimistic. They are looking to be the first out [to launch],” he told reporters at a recent media luncheon (May 18) at its headquarters. “To be the first, it means end of this year or early next year,” Cheng said, when asked about the timeline. Carsome, together with FinTech firm Jirnexu and digital remittance platform MoneyMatch, forms part of the consortium led by KAF Investment Bank which will be licensed under the Islamic Financial Services Act (IFSA) 2014. Carsome is Southeast Asia’s largest integrated car e-commerce platform with presence across Malaysia, Indonesia, Thailand and Singapore while Jirnexu is known for its digital financial marketplace, RinggitPlus – Malaysia’s financial comparison website. MoneyMatch is operating in the international payment space, operating on a fully digital platform to provide remittance services for individuals and businesses with a global reach of over 82 countries in more than 40 currencies. In a separate media conference last Friday, Malaysia-based telco Axiata Group Bhd CEO and Managing Director Vivek Sood said it plans to launch the digital bank by end-2023 and targets to make it profitable over the next three to four years. Vivek said the group did not foresee any hurdles for the digital bank as of now, but the whole process of launching the bank requires a thorough review and approval needed from the central bank. Axiata’s unit Boost Holdings Sdn Bhd, in a consortium with RHB Bank Bhd, has secured one of the five digital bank licences issued by central bank last year. Malaysia’s move to issue digital bank licenses comes at a time when regulators across Asia including Singapore, Hong Kong, the Philippines, Thailand and Indonesia, are opening up the banking industry to digital players, encouraged by higher smartphone penetration and better internet connections. Central Banks and consumers hope that digital banks could bring financial inclusion to underserved segments, helped by advanced technology. The other recipients of the digital banking licenses are a consortium led by YTL Digital Capital Sdn Bhd and Sea Ltd; a consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd; and a consortium of MoneyLion Inc, Aeon Financial Service Co Ltd and AEON Credit Service (M) Bhd. Malaysia’s Carsome banks on digital banking to complement existing car business |
https://technode.global/2023/05/29/mranti-invites-high-growth-malaysian-startups-for-global-expansion/ | MRANTI invites high growth Malaysian startups for global expansion | 31 | The Applications open from today with four cities on the 2023 destination roster including Osaka and Tokyo, Berlin and Bangkok, MRANTI said in a statement. “GMP is designed for companies geared up for the next stage of growth. It will help them navigate tough competition in a crowded market and maximize their market expansion efforts, “Whether they are looking to enter into a new vertical, or reach an emerging audience segment, GMP steers them through business, technical and cultural aspects of these countries for better opportunities to succeed,” said Dzuleira Abu Bakar, MRANTI Chief Executive Officer. According to her, the firm is targeting to enlist at least 100 quality applications for GMP in 2023, making it one of the largest Malaysian innovation global market-entry equipping programs this year. “We want our innovators to ride on the growing momentum in international business and position them early into the next 24 months of sustainable growth,” she added. It is noted that MRANTI has been providing a platform for high growth startups, innovative spin-offs or companies to gain international market access for rapid international commercialization since 2020 through GMP. The program has supported 62 companies across six countries, and established partnerships with more than 22 organizations. This year, GMP is opening its doors to innovators with research and development (R&D) solutions which have registered intellectual property or patents in Malaysia, to participate in the program. Companies are expected to be majority Malaysian-owned or with their intellectual property (IP) based in Malaysia. Companies with products and solutions in Internet of Things (IoT), finTech and IT (Software as a Service, SaaS), smart cities, machinery, healthtech, smart manufacturing, agriculture, education, transport, food and beverage and mobility are highly encouraged to apply. Dzuleira explained that exciting improvements have been made for GMP, in which selected companies stand to gain up to MYR1 million ($220,000) in program value from the government agency. Participants are expected to commit to a 2 to 3 month program from July to October, during which MRANTI orchestrates a series of physical and virtual workshops and match-making meetings. Through the comprehensive, intensive and immersive program, participants will be mentored on approaches to localize and validate their business model, and strategize their market entry. This includes having the products and solutions lined up for a needs analysis, a value creation framework, a rubric for market expansion and more. Meanwhile, participants will have the opportunity to network and gain business insights and technical support through one-on-one mentoring sessions, as well as meet investors,As a result of the support and interventions, each company is expected to realize MYR500,000 ($108,637) in value creation across the 24 months, through prototype contracts, development contracts, partnerships, IP licensing and subscriptions, and any other collaborations. To participate, companies need to demonstrate a minimum of MYR1 million ($220,000) in revenue, with commercialized products (achieving a minimum Technical Readiness Level of 6 or more), proven stream of business transactions and with a strong financial record. “We want to scale up and scale out these businesses fast by reducing uncertainties and increasing their chances for success especially in the global market,” Dzuleira said. According to her, there will only be one batch intake this year for GMP across the three countries, so the firm encourages eligible entrepreneurs with a mindset for international expansion to apply soon. She also said that MRANTI connects regional and global ecosystem players for commercialization of R&D and welcomes bi-lateral international collaboration opportunities. MRANTI, DNB, Ericsson extend MOU to boost technology clusters in MRANTI Park |
https://technode.global/2023/05/28/malaysias-tnb-inks-partnerships-with-energy-players-in-vietnam-and-laos-for-renewable-energy/ | Malaysia’s TNB inks partnerships with energy players in Vietnam and Laos for renewable energy | 31 | Malaysian electricity utility These collaborations are set to accelerate regional decarbonization efforts and cater to the increasing demand for cleaner, sustainable energy options, TNB said in a statement on Friday. According to the statement, these partnerships aim to enhance TNB’s RE portfolio and fast-track the expansion of TNB’s wholly owned subsidiary, TNB Power Generation Sdn Bhd (TNB Genco) and TNB’s New Energy Division into Southeast Asia. The strategic collaborations were materialized through the signing of three memorandum of understandings (MoUs). The MoUs signed in Vietnam were between TNB Renewables Sdn Bhd (TRe) and Saigon Gia Dinh Electric Joint Stock Company (EHCMC) and between TNB Repair and Maintenance Sdn Bhd (TNB REMACO) and North Power Service Joint Stock Company (EVNNPS). Similarly, the MoU signed in Laos was between TNB’s wholly owned subsidiary TNB Genco and Electricite Du Laos (EDL). “Our commitment in promoting RE and creating a sustainable future for Southeast Asia is unwavering, “By combining our strengths and expertise, we will unlock the vast RE potential in Vietnam and Laos, driving economic growth and the broader energy transition,” said TNB President and Chief Executive Officer Indera Ir. Baharin Din. The TRe-EHCMC MoU is to explore potential renewable power generation technologies opportunities in Vietnam, while the TNB REMACO-EVNNPS MoU is for collaboration and cooperation for potential energy-related services works in Vietnam, Cambodia, Laos, Myanmar and Thailand. “Through the MoU between TRe and EHCMC, we look forward to leveraging our combined strength and expertise that can unlock the vast RE potential in Vietnam,” said Baharin. In TNB REMACO-EVNNPS collaboration, he said TNB is offering valuable services such as O&M and maintenance, repair, and overhaul (MRO). Through the partnership with EDL, he said TNB is looking forward to strengthening cooperation by exploring investment opportunities in RE as well as exploring off-take opportunities through the Laos-Thailand-Malaysia Power Integration Project (LTM-PIP). “TNB is ready to be Laos’ strategic partner, fostering growth and realizing Laos as the ‘Battery of Southeast Asia’,” said Baharin. According to him, this is also in line with TNB’s commitment to accelerate the firm’s energy transition plan and achieve net-zero by 2050. “I am confident that this MOU will facilitate other areas of cooperation for partnerships and shared success. We thank EDL for this exciting opportunity,” he said. TNB, in its four initiatives to fast-track the group’s sustainability agenda, is continuing its huge investment in the Grid of the Future, accelerating decarbonization to increase the enterprise value of its power generation arm, TNB Genco; expanding focus markets to grow its RE portfolio; and focusing on electric vehicle ecosystem development. GDS, TNB sign supplemental agreement for powering data center campus in Malaysia |
https://technode.global/2023/05/26/axiata-plans-to-launch-digital-bank-by-year-end-report/ | Axiata plans to launch digital bank by year-end – report | 31 | Malaysia-based telco Axiata Group Bhd plans to launch its digital bank by end-2023 and targets to make it profitable over the next three to four years, its Chief Executive Officer and Managing Director Vivek Sood said. Vivek said the initial capital commitment for the digital bank would be around MYR100 million ($21.69 million), and it would offer large product offerings, including deposits for current account and saving account (CASA) account holders as well as insurance products and other financial products that would be gradually launched starting end-2023, national news agency “Why we are optimistic about the outcome of the digital bank comes from the fact that there are many things we have already done which need to be translated to the bank. For example, we have done around one and a half billion in loans to micro, small, and medium enterprises (MSMEs) within our existing business within Boost Credit. “We also have a large number of a half million active customers on a monthly basis which could potentially be the customers of the digital bank from day one. We are preparing our plans and would require the central bank’s necessary approvals before we can launch it,” he told a virtual media conference after the group’s annual general meeting, according to the news agency. Axiata’s unit Boost Holdings Sdn Bhd, in a consortium with RHB Bank Bhd, has secured one of the five digital bank licences issued by central bank last year. The other recipients of the digital banking licenses are a consortium led by YTL Digital Capital Sdn Bhd and Sea Ltd; a consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd; a consortium led by KAF Investment Bank Sdn Bhd which also included tech unicorn Carsome; and a consortium of MoneyLion Inc, Aeon Financial Service Co Ltd and AEON Credit Service (M) Bhd. Vivek said the group did not foresee any hurdles for the digital bank as of now, but the whole process of launching the bank requires a thorough review and approval needed from Bank Negara Malaysia. Last month, Boost Holdings is said to be working with a financial adviser on the potential fundraising, which may give the start-up a valuation of $700 million, the people reportedly said. The funding round would help finance the expansion of Boost’s digital banking operations, the people added. In a recent According to him, as of 2022, Boost has accumulated an excellent track record of disbursing over MYR2.5 billion worth of loans in Malaysia and Indonesia since inception, while also recording an increase of over 70 percent year-on-year in loans disbursed across the two countries in 2022. Not only that, Boost also recorded about 90 percent repeat rate on short-term loans as of 2022. Despite around 40 percent of its customers had never received credit from other financial service providers before, Boost maintained a healthy single-digit non-performing-loan (NPL) rate, he noted. Boost is the regional fintech unit of Axiata, offering an all-in-one app, merchant solutions, artificial intelligence-based lending and a cross-border payment platform. It serves millions of customers across seven countries in Southeast Asia, the site shows. In 2020, Axiata sold a 21.9 percent stake in Boost to Great Eastern Holdings Ltd, the insurance arm of Singapore’s Oversea-Chinese Banking Corp (OCBC) for $70 million, according to earlier reports. The investment valued Boost at $320 million, Bloomberg reported. Malaysia-headquartered telco Axiata has controlling interests in six mobile operators under the brand names of ‘Celcom’ in Malaysia, ‘XL’ in Indonesia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia and ‘Ncell’ in Nepal, as well as minority interests in ‘Idea’ in India and ‘M1’ in Singapore. Axiata’s Boost to leverage ecosystem as it prepares to launch its digital bank. Here’s how and why. [Q&A] |
https://technode.global/2023/05/25/aerodyne-unveils-innovative-solutions-for-advanced-air-mobility-and-uas-istar/ | Aerodyne unveils innovative solutions for advanced air mobility and UAS ISTAR | 31 | Aerodyne GroupThese innovative solutions, powered by Aerodyne’s proprietary intelligence platform, DRONOS – Drone Operating System, redefine transportation, logistics, and security operations delivering efficiency, cost reduction, and enhanced safety, Aerodyne said in a statement. ARGENTAVIS, an advanced air mobility solution, optimizes operations by efficiently handling mid to heavy lifting up to 225kg and covering distances of up to 725km. It caters to various industries, including oil and gas shore-to-platform deliveries, medical supplies transportation to rural areas, and smart city logistics. According to the statement, Aerodyne’s expertise in drone technology and data analytics positions them as industry leaders in developing innovative solutions tailored to specific logistical needs. FULCRUM represents a significant advancement in security and surveillance management. It enhances safety, effectiveness, and situational awareness in critical operations like oil and gas (O&G) pipeline monitoring, search and rescue missions, and border security. By leveraging AI-driven geospatial intelligence, nested swarm system, and advanced unmanned helicopter, FULCRUM delivers state-of-the-art intelligence, surveillance, target acquisition and reconnaissance (ISTAR) solutions that set new standards in the market. As an integral part of Aerodyne’s holistic approach, ARGENTAVIS and FULCRUM seamlessly integrate with DRONOS, that serves as the intelligence hub for all things drone. This integration empowers organizations with real-time data processing, advanced analytics, and enhanced situational awareness, enabling them to make informed decisions and achieve unprecedented levels of operational excellence. “The introduction of ARGENTAVIS and FULCRUM represents a significant milestone for Aerodyne and the drone industry,“These solutions embody our commitment to innovation and delivering transformative solutions to our global clientele,” said Kamarul A Muhamed, Founder and Group Chief Executive Officer of Aerodyne. He said the firm is ushering in a new era of efficiency, cost reduction, and safety in transportation, logistics, and security operations. He also further highlighted some of the specific use cases where Aerodyne’s solutions will make a difference. “We are thrilled to embark on various projects, including island to island delivery, implementation of a nested drone system to monitor assets spanning over thousands of kilometers, enabling efficient delivery of food and medicines to remote areas, providing long-range surveillance capabilities, and supporting maritime and land border management, “These opportunities showcase the versatility and game-changing potential of our advanced drone technologies,” he added. According to the statement, the launch of ARGENTAVIS and FULCRUM at LIMA 2023 exemplifies Aerodyne’s dedication to pushing the boundaries of drone technology and spearheading industry advancements. With a focus not only on developing state-of-the-art drone hardware but also on harnessing artificial intelligence (AI)-driven data intelligence for superior situational awareness, Aerodyne is dedicated to delivering comprehensive solutions that empower organizations to achieve unprecedented levels of operational excellence. Aerodyne is a drone-based enterprise solutions provider which adopts holistic approach to drone tech, data tech, and digital transformation (360DT3) to help organizations overcome complex industrial challenges by leveraging drone data and AI-powered analytics. Aerodyne adopts a client-centric approach and collaborate with organizations using the build-operate-transfer (BOT) model, empowering them to establish their own in-house drone capabilities while capitalizing on its expertise and experience. Aerodyne employs over 1,000 drone professionals to operate on an unprecedented level in the unmanned aircraft systemBEYOND EXPO 2023: Malaysia’s Aerodyne plans to raise up to $200M in Series C round; IPO in two to three years’ time |
https://technode.global/2023/05/23/malaysian-proptech-firm-livein-acquires-property-management-firm-kt-management/ | Malaysian PropTech firm LiveIn acquires property management firm KT Management | 31 | Malaysian PropTech firmLiveIn said in a statement that this merger makes LiveIn the market leader in the space and will provide KT Management’s thousands of tenants, LiveIn’s flexible community living solutions and a better online to offline (O2O) experience. This means that after they graduate, they will be able to have access to any accommodation within LiveIn. “Malaysia and Thailand are key markets for us. The market conditions in Southeast Asia are perfect for LiveIn with its young people population, massive numbers of young professionals moving to the cities and the huge property overhang,“With our success of this merger, we know we have the template for success. We are now aggressively pursuing acquisition opportunities there and around the region,” said Keek Wen Khai, Co-Founder and Chief Executive Officer of LiveIn. com. According to him, LiveIn Community Managers have been hard at work in Kampar Malaysia integrating LiveIn’s flexible community living solutions and processes to KT’s properties and tenants. “Now that they are under the LiveIn family, as these university students graduate and move to the city to further their studies or to work, they will be able to seamlessly relocate to our other properties, “The entire process will be carefully managed by our expert team of LiveIn Community Managers,” he added. He also said by ensuring the firm’s tenants stay with them in different stages of their student and professional lives and in different cities, they ensure a level of continuity that is rate in the rental market. “We learn so much from them. We earn a higher level of brand loyalty. And we enjoy a much higher lifetime value (LTV) from each and every one of tenants,” he said. LiveIn is a regional proptech company providing affordable long-stay rental solutions. Formerly known as Hostel Hunting, the firm provides flexible community living, affordable rental and an enhanced O2O experience for their tenants through their online platform. The company has been growing aggressively in Malaysia and Thailand by taking advantage of the property overhang in the region and the growing demand for better long term rental options for university students and young professionals. KT Management is a major player in the student accommodation and one of the largest private long stay rental providers in the northern region of Malaysia. “KT Management has been growing year on year. This merger is a natural progression. Integration has been amazing and KT’s tenants are already enjoying the benefits. ” said Kent Tee, KT Management’s founder. “I’ve been in this industry for over ten years, I believe in LiveIn’s vision to be the leading player in Southeast Asia,“This is a key strategy for growth, I foresee this will be the first of many. I am excited to now be a part of the expansion team in new cities and to bring my expertise to the table,” he added. With the successful merger of their operations and management team, LiveIn said it hopes to replicate this in their other markets. Malaysian PropTech firm Urbanmetry bags $2M Pre-Series A led by Monk’s Hill Ventures |
https://technode.global/2023/05/23/origin-conference-why-is-southeast-asia-prime-for-the-next-decade/ | ORIGIN Conference: Why is Southeast Asia Prime for the Next Decade? | 31 | Editor’s note:“Why is Southeast Asia Prime for the Next Decade?” was a panel that featured Thomas G. Tsao of Gobi Partners, Davide Cali of CrossFund, and Winston Utomo of IDN Media, moderated by Yimie Yong of TechNode Global at the ORIGIN Conference. The panellists, based in Malaysia, Vietnam and Indonesia respectively, discussed about the reasons why Southeast Asia is prime for the next decade and where they see opportunities within the region. They also discussed the challenges of investing and operating in the Southeast Asian region and had given some pieces of advice to investors and companies looking into this multi-cultural and diverse market. The text below has been edited for clarity and brevity:Thomas G. Tsao, Co-Founder and Chairperson of Gobi Partners:Malaysia is sometimes an overlooked market in Southeast Asia. I think Malaysia, especially for our friends from China, can serve as a “Penta” hub. Penta means five, so the five-sided hub. By going to Malaysia you can connect to the five of the biggest investment trends on the planet. Malaysia shared a similar language (Malay and Indonesian language) with Indonesia and both countries have a large Muslim community. You can go to Indonesia directly and you could also use Malaysia as a stepping stone into Indonesia. Malaysia’s strength is its diversity. Malaysia has a thriving Malaysian-Indian community. So from Malaysia, you can connect to India. Malaysia also has a thriving Malaysian-Chinese community. They have Michelle Yeoh. Even Hong Kong is trying to claim her but she’s also from Malaysia, right? So you can connect back to the Greater Bay, China through Malaysia. Malaysia is part of the British Commonwealth, they speak good English. You can connect to Europe, North America, the West through Malaysia. I think the last huge opportunity is because Malaysia is positioning itself as a center for ‘Taqwa tech’. It’s innovation focused on the global digital Muslim economy. Taqwa is the Arabic word for faith purposes. When you look at the big opportunities: China was huge, because it was 1.4 billion people. What’s bigger than 1.4 billion? 2 billion, and that’s the number of Muslim consumers on the planet. And what Gobi is trying to do is, through Malaysia, and we’re building out in Pakistan, Bangladesh. We have a presence in Indonesia. Imagine connecting that across Southeast Asia, South Asia and MENA (Middle East and North Africa). That can be a big opportunity and again, you can access that through Malaysia. You mentioned Carsome (Malaysia’s first unicorn). We think Malaysia’s second unicorn is emerging, Aerodyne. if Kamarul (founder of Aerodyne) decided to set up the company in Singapore or Indonesia, the company would probably worth three times what it’s worth now. So you’re getting a huge bargain. Come to Malaysia. There are great opportunities for Chinese investors. There’s still a lot of room you can find great bargains. There’s still a lot of undiscovered gems. Challenges: It’s not easy, but that’s why I think Southeast Asia is a perfect testbed for Chinese companies to globalize or internationalize using Southeast Asia because it will challenge your management capabilities. Sometimes you overlook the opportunities in your own backyard. I think for a lot of folks in China, the US, and Europe are always great markets. But don’t forget, the friendly neighborhood in the south – Southeast Asia, with 700 million people, all very young, sometimes gets overlooked. I expect those investment flows to definitely increase and I think this conference is a nice first step to accelerate that process. Davide Cali, Founder and Director of CrossFund:One of the problems in Southeast Asia is the lack of talents, tech talents. There cannot be a lot of startups without tech talents. I think this is one of the strongest points that Vietnam has in the region. I’m from tech background. So tech scene is the first thing I see. There are 500,000 developers in Vietnam, and they are growing by 10 percent every year and there are about 1 million people work in ICT. I don’t think you can find this number easily. Every country may have their strong point, Vietnam has strong developers, especially for AI and blockchain. I think it will become the tech hub for Southeast Asia in the future. This is my prediction. There are also some challenges. The main problem in Vietnam is there is no highway, the first deepwater harbor was just opened. Now they’re building the second one. So if the country doesn’t invest massively in infrastructure, they do risk to miss the opportunity and gets stuck in the middle income trap. Winston Utomo, Founder and CEO of IDN Media:First, Indonesia is the large country. We are the fourth most populous country, with 270 million population and growing. From the 270 million, 210 million are internet users, which grows very fast in the past few years. Based on many analysis, and research report, we will become the fourth or fifth biggest economy in the world by 2045. Second, we have abundant natural resources, coal, oil, natural gas. in fact, we are the biggest coal producer in the world. but the government has made a big push as well towards renewable energy. The third is political stability. I think that’s one good thing about Indonesia, especially in the past 10 years. The government has been quite friendly regarding businesses, and foreign direct investment. The fourth one is economic growth. This year’s projection is around 5 percent, which is quite good and higher than many other regions. Last year’s growth was more than 5 percent. And the last reason is the rising middle class. Based on the report from the World Bank, Indonesia has about 55 to 60 million. So these are the reasons why Indonesia is prime for investment from China and other parts of the world. ORIGIN Conference: Southeast Asia in Spotlight at BEYOND Week 2023 |
https://technode.global/2023/05/22/sc-takes-enforcement-action-against-huobi-global-for-illegally-operating-digital-asset-exchange-in-malaysia/ | SC takes enforcement action against Huobi Global for illegally operating digital asset exchange in Malaysia | 32 | Malaysian regulator the Securities Commission Malaysia (SC) has taken action against Accordingly, the SC has issued a public reprimand against Huobi Global Limited, and Leon Li for operating illegally in Malaysia, according to SC statement on Monday. In addition, the SC has ordered Huobi Global Limited to stop its operations in the country, including to disable its website and mobile application on several platforms such as Apple Store, Google Play and any other digital application platform. Huobi Global Limited has also been directed to cease circulating, publishing or sending any advertisements, whether in email or on social media platforms, to Malaysian investors. Leon Li, as the Chief Executive Officer, has also been specifically ordered to ensure that the above directives are carried out. This decision comes after concerns about the platform’s compliance with local regulatory requirements and protecting investors’ interests. The SC views this breach seriously, as operating a DAX without obtaining the SC’s registration as a Recognized Market Operator (RMO) is an offence under Section 7(1) of the Capital Markets and Services Act 2007. The SC urges Malaysian investors who have been using Huobi Global Limited to immediately cease trading through its platform, withdraw all their investments, and close their accounts. Investors are strongly advised to invest and deal with RMOs that are registered with the SC. Registered RMOs have undergone strict regulatory scrutiny and are required to adhere to strict guidelines so that investors are protected under Malaysia’s securities laws. Those who invest with unlicensed or unregistered entities or individuals are exposed to risks such as fraud and may not be protected under Malaysian securities laws. Investors should exercise caution when choosing investment platforms and to always do their due diligence before making any investment decisions. Additionally, investors should be wary of investment schemes that promise high returns with little risk, as they may be too good to be true. By taking these precautions, investors can safeguard their investments and avoid falling victim to fraudulent schemes. Malaysia’s Bintai Kinden ventures into digital assets |
https://technode.global/2023/05/17/futu-launches-trading-platform-moomoo-in-malaysia/ | Futu launches trading platform Moomoo in Malaysia | 32 | Futu Holdings LimitedThrough inclusive finance, Malaysia investors will enjoy lifelong access to a holistic suite of self-help educational resources, free-for-all market data and a supportive global community to unlock more opportunities, Futu said in a statement. Futu Senior Partner and Senior Vice President Robin Xu said this is the second Southeast Asia (SEA) launch. He said the firm’s research and development capabilities and business success in serving over 20 million users worldwide allow the firm to provide better tech-driven solutions to the market, enabling users to be equipped with the necessary access, tools and knowledge to make informed decisions along the investment journey. It is noted that the Company’s wholly-owned Malaysian subsidiary has recently received the Approval-In-Principle (AIP) for the Capital Markets Services License (CMSL) from the Securities Commission Malaysia (SC), marking a giant leap in its Southeast Asia business expansion plans. Attaining the AIP from the SC further reinforces the company’s overall mission and vision to make investing easy and accessible to both investors and stakeholders. “We are thrilled to have been granted the AIP from the SC, as it is a validation of our mission and vision to make investing more convenient and accessible to investors worldwide,” said Xu. Following its success in Singapore and other Asia Pacific (APAC) markets, he said the firm is well-equipped to bring its international know-hows in transforming the digitized investment landscape in Malaysia. “With its 32.7 million well-structured population, business-friendly environment, educated talent pool and high digital literacy levels, the country will serve as a catalyst for growth, “The company values Malaysia as a strategic location to roll out its cutting-edge super investment platform,” he added. According to the statement, education is the cornerstone for lifelong learning and personal development. Designed to empower retail investors of all levels to uncover opportunities that are exclusive to the investment platform, moomoo is packed with highly intuitive tools, features and functions. With moomoo, retail investors are encouraged to also adopt a self-directed learning approach to securities and derivatives trading. This will be the first such financial literacy solution to roll out in Malaysia by a global technology company that believes in making investing right at the fingertips via digitalization. Meanwhile, with its global presence and know-how in providing digitized investment services across major markets, the company sees its unique digitized ecosystem that aggregates 20 million investors worldwide would promote financial inclusion in Malaysia, and has a positive effect on driving the industry forward. By fostering a synergistic ecosystem with thousands of public companies, fund houses, media, and market practitioners, it sees the moo community would be a winning strategy for the new market and a pathway to business success. Futu is an advanced fintech company upgrading the investing experience by offering fully digitalised financial services in multiple markets. The firm was listed on Nasdaq on March 8, 2019. It offers market data, financial news, interactive social features, and investor education on its proprietary one-stop digital platforms, Futubull, and moomoo. Its subsidiaries provide clients with investing services, including trading and clearing services for the United States, Hong Kong SAR, China Connect, Singapore, and Australia stocks, margin financing, and securities lending, and wealth management. ASX-listed Novatti acquires Malaysia FinTech firm ATX Group for up to $7.4M |
https://technode.global/2023/05/16/vantage-data-centers-plans-to-invest-3b-to-build-second-data-center-campuses-in-malaysia/ | Vantage Data Centers plans to invest $3B to build second data center campuses in Malaysia | 32 | Vantage Data Centers (Vantage)Upon completion, the KUL2 campus will deliver 256MW of IT capacity to meet the growing customer demand for hyperscale data center services, Vantage said in a statement. Located adjacent to Vantage’s existing campus (KUL1) in Cyberjaya, the campus will be sited on nearly 35 acres and will include 10 facilities across 256,000 square meters (2.75 million square feet). Strategically located to provide low-latency connectivity to major cities in the region, including Singapore, Bangkok and Jakarta, the state-of-the-art mega campus will be built to the highest standards of performance, reliability and security, with multiple layers of physical and virtual security measures in place to protect against threats. The first facility is planned to open its doors in the fourth quarter of 2025. In addition, Vantage is expanding its KUL1 campus with a fourth 16MW facility that is currently under development. Combined, both campuses will deliver a total of 287MW of information technology (IT) capacity to meet the demands of hyperscalers, cloud providers and large enterprises. “Vantage has been expanding our footprint in Malaysia since we entered the dynamic Asia-Pacific (APAC) market, “Our positive experience in Cyberjaya has encouraged us to take further steps to advance the city’s digital infrastructure by building our largest hyperscale campus in the region,” said Giles Proctor, Chief Operating Officer of Vantage’s APAC business. With exciting opportunities ahead, he said Vantage is committed to driving innovation, sustainability and growth in the region to meet the demands of both global and local customers. At a ceremony on Tuesday, Vantage signed an agreement with Cyberview, the tech hub developer of Cyberjaya, to move towards implementation of this investment. “The development of KUL2 as Vantage’s second data center campus serves as proof that Malaysia has emerged as the most desired destination for data center investments in the Asia Pacific region,“We are confident that Vantage’s efforts will assume a crucial role in propelling Malaysia to achieve its goal of becoming a digital nation and realizing a 22.6 percent gross domestic product (GDP) growth from the digital economy by 2025,” said Wira Arham Abdul Rahman, Chief Executive Officer of Malaysian Investment Development Authority (MIDA). As the foremost provider of comprehensive investment solutions and a strategic investment partner in Malaysia, he said MIDA is dedicated to supporting Vantage’s success and furthering the country’s position as a prominent digital hub in the region. Mahadhir Aziz, Chief Executive Officer of Malaysia Digital Economy Corporation (MDEC), said with Vantage’s investment in Malaysia, the firm is one step closer towards its goal of firmly establishing Malaysia as the digital hub of ASEAN. “The Malaysia Digital (MD) national strategic initiative aims to transform the nation’s digital capabilities, enhancing our value proposition to attract digital investments and boost the digital economy,” he said. He said the agency is committed to supporting Vantage’s presence here and the growth of the nation’s data center industry via various PEMANGKIN initiatives. “Vantage’s new data center campus not only strengthens Malaysia’s digital infrastructure but also accelerates our ongoing digital transformation, “This move signifies continued confidence in Malaysia’s robust and enabling data center ecosystem, digitally skilled talent and world-class infrastructure,” he added. Vantage currently has seven campuses across the region that are either operational or under development. The firm powers, cools, protects and connects the technology of the world’s well-known hyperscalers, cloud providers and large enterprises. It develops and operates across five continents in North America, Europe, the Middle East and Africa (EMEA) and APAC. Malaysia’s MN Holdings partners China’s DC-Science to set up high performance data center in Malaysia |
https://technode.global/2023/05/12/malaysias-aerodyne-plans-to-raise-up-to-200m-in-series-c-round-ipo-in-two-to-three-years-time/ | BEYOND EXPO 2023: Malaysia’s Aerodyne plans to raise up to $200M in Series C round; IPO in two to three years’ time | 32 | Malaysia-based drone service provider “We are targeting $100 million to $200 million,” its founder and group Chief Executive Officer Kamarul A Muhamed, who is also the founder, told Kamarul, however, did not disclose the timeline for the funding round but added that the funding round will be for expansion and merger and acquisitions (M&A). “M&A is for market access and the technology,” he added. Aerodyne Aerodyne’s plan to raise Series C round also comes after its The company announced then it has raised $30 million as part of its latest bridging round. Its long-time client Malaysia-based national oil firm Petronas, via its corporate venture capital arm Petronas Ventures, has led the funding round. The round also included a follow-on investment by Kumpulan Wang Persaraan Diperbadankan (KWAP), who initially invested in the group back in 2020. Meanwhile, at a panel discussing AgriTech at the BEYOND Sustainability Summit, Kamarul also shared that the next milestone for the company will be its initial public offering (IPO). “It will be in two to three years’ time,” he said. He later told Aerodyne is backed by Japan investors including VC firm Real Tech Fund, industrial equipment supplier Kobashi Holdings, and drone and robotics tech firm ACSL as strategic partners. Its investors include InterVest, Kejora Ventures, North Summit Capital, Indorama Corp, Leave a Nest, Axiata Digital Innovation Fund, Gobi Ventures, 500 Global, and ventureTECH, among others. In an earlier interviewAccording to Drone Industry Insights, Aerodyne ranked first on a list of the top global remote-sensing drone service providers in 2021 and 2022. Aerodyne is a DT3 (drone tech, data tech, and digital transformation) drone-based enterprise solutions provider with operations in more than 45 countries, Kamarul said during his presentation on Thursday. Malaysian drone tech firm Aerodyne explores dual-listing as it starts IPO process |
https://technode.global/2023/05/12/airasia-superapp-and-foodpanda-join-forces-for-groundbreaking-partnership/ | Airasia Superapp and foodpanda join forces for groundbreaking partnership | 32 | The This strategic partnership enables both platforms to leverage on each other’s strengths, whereby airasia Superapp’s ride-hailing service, airasia ride is made available on the foodpanda app, the duo said in a statement. In turn, foodpanda – the largest on-demand food and grocery delivery service in Asia outside China – will be powering the travel superapp’s food delivery service, connecting millions of airasia Superapp users to foodpanda’s extensive network of more than 100,000 merchants and thousands of delivery partners. With this, airasia Superapp’s food offerings will move towards a dine-in model. “We are laser-focused on fulfilling our travel superapp vision, and we are glad to have found positive synergy with a strong delivery partner as we move on to a dine-in model for our food business,” said Tony Fernandes, Chief Executive Officer of Capital A, the parent firm of airasia Superapp. According to him, this platform partnership will enable both parties to leverage on each others’ strengths – foodpanda’s food and grocery delivery prowess and airasia Superapp’s ride-hailing services backed by a complete travel superapp ecosystem, both a necessity for travellers and everyday users of both apps alike. “There is so much potential where both airasia Superapp and foodpanda can further explore together, such as payment solutions via BigPay, joint loyalty programs with airasia rewards, possible subscription plans and much more, “We are happy to kick-off this partnership today with our food and ride-hailing collaboration in Malaysia,” he added. Jakob Angele, Chief Executive Officer of foodpanda, said the opportunity to bring together two of Malaysia’s biggest household brands is a special one for them. “We’ve both built great services that Malaysian customers have grown to rely on and love – so this is a natural partnership to jointly offer great value, variety and convenience to all our customers,” he said. Mohamad Hafidz Mohd Fadzil, acting Chief Executive Officer of airasia Superapp, added that as a regional travel superapp, they are all about providing a seamless and convenient experience to users, who are primarily travellers across the Asean region. “We are a one-stop centre for everything they need, from flights, accommodations, rides to and from the airports and hotels, to even culinary experiences via food delivery or dine-in reservations, “We look forward to further excelling in the superapp space with this landmark partnership today,” he said. The airasia Superapp is the one-stop travel platform business of Capital A offering consumers over 15 lines of products and services via the Superapp as well as the airasia. com website. Powered by data and technology, the airasia Superapp leverages its digital ecosystem of 51 million users and 40 million downloads to generate a personalized and seamless consumer experience. Users can also engage in real-time conversations, join like-minded communities, play games and much more. Foodpanda is a on-demand delivery platform in Asia dedicated to bringing consumers a wide range of food, groceries and more, quickly and conveniently. Powered by technology and operational excellence, foodpanda is spearheading the growth of quick-commerce (q-commerce) across the region with its network of retail partners, asFoodpanda operates in more than 300 cities across 11 markets in Asia Pacific – Singapore, Hong Kong, Thailand, Malaysia, Pakistan, Taiwan, Philippines, Bangladesh, Laos, Cambodia and Myanmar. Foodpanda is a subsidiary of Delivery Hero, a global leader of the food delivery industry. Airasia SuperApp average monthly active users up 12 percent q-o-q in first quarter |
https://technode.global/2023/05/11/mobilityone-partners-with-wibmo-to-issue-mastercard-prepaid-cards-through-wibmo-hexa/ | MobilityOne partners with Wibmo to issue Mastercard prepaid cards through Wibmo Hexa | 32 | WibmoWith this partnership, Wibmo and MobilityOne are all set to foray into the Malaysian prepaid card market and offer various prepaid programs catering to consumer, corporate, government and the health sector, both parties said in a statement on Tuesday. According to the statement, the partnership is to leverage the growing opportunities in the country’s prepaid card market. By using Wibmo’s feature-rich and API-first prepaid card platform Hexa, MobilityOne will be able to support various prepaid cards like fleet cards, employee/corporate benefits, subsidy cards, gift cards, travelers’ cards, and other business to business (B2B) and business to business to consumer (B2B2C) prepaid solutions. The Hexa platform is equipped to handle key business use cases and comes pre-integrated with Wibmo’s proven Access Control Server (ACS) for real-time fraud detection and prevention using its dynamic CNP Risk Engine along with the prowess of EMV 3D secure protocol’s built-in features. This partnership has been entered into at a time when the Malaysian prepaid card market is expected to record a compound annual growth rate (CAGR) of 14.4 percent, an increase from $6.06 billion in 2022 to $10.40 billion by 2026 according to PayNXT360’s analysis. MobilityOne has been providing prepaid card solutions to various corporates in Malaysia. With Hexa, Wibmo’s API-first prepaid card platform, MobilityOne will support all prepaid form factors, be it a physical, virtual card, or a mobile wallet, as well as many advanced features such as just-in-time funding, deferred authorization, and others. “We are thrilled to share the news of our collaboration with MobilityOne, as we make our foray into the Malaysian prepaid card market,“Our goal is to empower the market with a tech-integrated payment system, and we believe that the time is ripe for disruption,” said Wibmos Chief Executive Officer Suresh Rajagopalan. According to him, the Hexa platform from Wibmo will serve as the foundation for MobilityOne to offer a variety of Mastercard-based prepaid products. “By joining forces, we aim to make a substantial impact on the payment card industry in Malaysia and broaden our footprint across Southeast Asia,” he added. MobilityOne’s Chief Executive Officer Hussain A Rahman said as a leading electronic transactions and payments solution provider in Malaysia, the firm is committed to enhancing its payment offerings and expanding its presence in the market. “We are proud to have obtained our license to issue Mastercard prepaid cards in Malaysia in 2021, and since then, we have been providing prepaid card solutions to various entities in the country,” he said. In choosing a partner, he said the firm found Wibmo’s Hexa Platform to be the ideal choice due to its comprehensive technology stack that offers issuing and acquiring capabilities for our B2C and B2B use cases. Additionally, he said Wibmo’s auxiliary offerings in 3D-Secure, fraud detection, identity management, and digital banking make them a complementary partner to go to market with. Wibmo Inc. , a California company, is a global full-stack PayTech company, an industry leader in payment security and digital payments in emerging markets, partnering with 160+ banks & fintech across 30+ countries. The company is the largest authentication service provider in India, one of the world’s leading digital payments markets. It also offers fraud and risk management solutions, mobile payments, prepaid solutions, and a host of merchant-acquiring services. MobilityOne Sdn Bhd, a subsidiary of a London-listed company headquartered in Malaysia, is a virtual distributor of mobile prepaid reload and bill payment services in the country. With connections to various service providers across industries such as banking, telecommunications, utilities, government agencies, and transportation, MobilityOne operates through multiple distribution channels including mobile wallets, e-commerce sites, EDC terminals, automated teller machines, kiosks, and internet & mobile banking. Holding licenses in regulated spaces including acquiring, e-money, remittance, and lending, MobilityOne offers a range of services to the market, including wallet, internet, and terminal-based payment services, e-money, remittance, lending, and custom fintech ecosystems for communities. Mastercard launches new data and services hub in Malaysia to serve the Asia Pacific region |
https://technode.global/2023/05/10/malaysian-government-launches-mystartup-nxt-to-create-sustainable-startup-ecosystem/ | Malaysian government launches MYStartup NXT to create sustainable startup ecosystem | 32 | Ministry of Science, Technology and Innovation (MOSTI)This series of micro-conferences is a continuation of the successful roadshow initiative by MYStartup, Cradle said in a statement. Starting with Cyberjaya, MYStartup NXT will be held across the country and proceed with Sarawak, Penang, and finally conclude in Sabah. According to the statement, the micro-conferences aim to engage local startups across Malaysia, enabling access to the startup ecosystem support and benefits that will empower them to scale up to the next level. It is noted that MYStartup is on a mission to create over 5,000 quality startups by 2030, and with Kuala Lumpur already being one of the top 25 emerging ecosystems globally, there is huge potential for other parts of Malaysia that must be actioned on. “MYStartup NXT is part of the government’s effort to cultivate accessible innovation and support long-term startup development, in line with Malaysia MADANI’s aspirations, one of which is to build an innovative and high-tech nation, “Thus, the launch of the MYStartup Annual Report today will assist the government to realise these aspirations through high impact programs,” said Minister of Science, Technology and Innovation Chang Lih Kang. According to Ahmad Kashfi Alwi, Cradle Senior Vice President of Ecosystem Development, MYStartup NXT series will enable and grow the country’s startup ecosystem equally and ensure that every local startup community. “Whether from the Klang Valley, Northern or Southern region, East Coast or even East Malaysia, they do not miss out on receiving benefits from programs organized by MYStartup,“MOSTI through Cradle reaffirm the commitment to create an ever-sustainable ecosystem that is inclusive, to see all local startups flourish and scale at a competitive level,” he added. MYStartup has also on Tuesday introduced MYStartup Dev, a data-centric, community-driven platform exclusively designed to connect tech talents with talent development partners and upskilling programs. MYStartup Dev will guide and teach new skills for career advancement, nurture networking with industry experts, and stay current with the latest skills and technologies, ultimately unlocking the full potential of young local tech talents in Malaysia. Throughout the NXT tour, states and federal entities are encouraged to communicate continuously with each other to achieve the goal of cultivating and nurturing more startups throughout the country. MYStartup Strategy is a national initiative by the MOSTI and Cradle. It consists of several programs which aim to strengthen the startup ecosystem and community in Malaysia. Among them are; MYStartup Roadshow, MYHackathon, MYStartup Pre-Accelerator, MYStartup Accelerator, MYStartup Internship and MYStartup Mentorship. The programs aim to ensure startups are thoroughly guided starting from the ideation stage, trained, supported and opportunity to highlight their company profile to attract foreign investors. The MYStartup Program is part of the Malaysian Startup Ecosystem Roadmap (SUPER), while Cradle as the focal point agency for the startup ecosystem which has been mandated to ensure that this strategy benefits the startup ecosystem as a whole. This effort is also in tandem with MOSTI’s target of creating 5,000 start-ups and producing five unicorn status companies by 2025. MYStartup partners DNB to solve corporate problems through MYStartup Hackathon 2022 |
https://technode.global/2023/05/10/are-biometrics-truly-the-key-to-securing-malaysias-banking-sector/ | Are biometrics truly the key to securing Malaysia’s banking sector? | 32 | The cyber threat landscape is never static. Phishing scams were already a pressing global issue for the banking industry, with Malaysia recording It’s also worth highlighting that authorities around the world are realizing that SMS OTPs — which are susceptible to phishing attacks — are no longer fit for today’s fast-paced digital landscape, and swift action must be taken to implement robust security measures. This is especially evident in Malaysia, where its central bank is Malaysia is certainly on the right path toward a more secure banking landscape. But, if banks don’t implement the right technologies, these new regulations may unintentionally create more friction in the overall customer banking experience. Or, if other banks choose to prioritize the experience above all else, they may unintentionally choose technologies that are less secure in the long run. One can’t help to wonder — what’s the next course of action for banks? Is biometric technology truly mature enough to be the silver bullet that provides airtight security and seamless customer experiences that banks are aiming to achieve?Secure, convenient, and seamless. These are just some of the benefits that have made biometric authentication methods increasingly popular in both consumer and enterprise systems. In a world where cyber threats are becoming increasingly sophisticated and prevalent, biometric authentication has emerged as a popular solution to the challenge of identity verification — leveraging unique biological or behavioral traits of an individual to verify their identity. While biometric verification is undoubtedly secure and convenient, it is imperative to understand that adopting such an authentication method, alone, is not a fool-proof solution to cybersecurity. For instance, facial recognition without advanced liveness detection, which ensures that the picture taken is from a live person at the point of capture, is vulnerable to deepfake spoofing. A multi-factor verification approach — which uses a combination of verification technologies when high-risk transactions are detected — can provide organizations with an additional layer of security that ensures the protection of their customers against cyber-attacks without compromising on convenience. As part of their effort to prevent the different types and levels of cyber threats, financial institutions have understandably grown to check more than just ID documents for identity verification. As such, it has become common practice for organizations to layer countless risk signals such as user’s name, IP address, phone, and email. There is a problem with this, too, though. Countless layering leads to a lack of data integration that cuts across different solutions, which not only hinders the efficiency of cybersecurity checks but increases the risk of non-compliance with Know-Your-Customer (KYC) and anti-money laundering (AML) regulations. Partnering with multiple risk vendors can complicate the process of managing workflows as each vendor may have its own framework. This can result in a lack of seamless integration. Furthermore, relying on multiple solutions makes it difficult for organizations to scale the systems as it grows, thus increasing operational resources and costs. The onus, therefore, is on banks to implement the right technologies. To do so, banks can implement multi-factor and risk-based authentication that orchestrates only the necessary risk signals and technologies for identity verification. For instance, logging into a bank’s mobile app might start with a device check, and if the user’s phone was used multiple times to open accounts, a more rigorous set of checks such as face verification would be initiated. In addition to this, financial institutions can also consider implementing multimodal biometrics such as fingerprint and facial authentication that can be used for high-risk profiles or financial transactions above certain thresholds. This orchestration allows companies to provide a frictionless experience for legitimate customers and increase scrutiny for higher-risk individuals. It results in easier logins, better fraud deterrence, and reduced cost on manual investigations — since they can use lower-cost risk signals first to filter out a lot of the fraudsters, before running more advanced identity verification processes such as biometric authentication. To enable this, banks can partner with experienced integrated identity verification providers to unlock access to a comprehensive range of online identity verification solutions and any necessary manual reviews — which are triggered when the verification process requires a final decision from analysts to ensure reliable user verification and remote fraud detection. Furthermore, organizations can also have the power to customize their identity verification and KYC compliance workflows based on the changing landscape and requirements, risk tolerance, as well as regulatory standards in the different markets. Most importantly, as these solutions don’t require any additional steps from the end user, a smooth onboarding process and frictionless customer experience can still be achieved — a crucial aspect, since a seamless digital experience is one of the top priorities for consumers in today’s digital landscape. Migrating away from SMS OTPs and enforcing secure authentication methods is a step in the right direction for Malaysia’s shift towards a cashless society. As our online infrastructures become increasingly open and interconnected, the stakes are even higher as cyberattacks can have far-reaching and severe implications that can spread rapidly, affecting not just individual businesses but entire economies, leading to significant damage and potentially long-lasting consequences. It is therefore critical for organizations to continuously tap into advanced technologies to prevent further instances of fraud in the banking landscape — securing a safer banking experience for everyone. Frederic HoTechNode Global INSIDERThe cost of inaction: Why cybersecurity could make or break your business |
https://technode.global/2023/05/10/mastercard-launches-new-data-and-services-hub-in-malaysia-to-serve-the-asia-pacific-region/ | Mastercard launches new data and services hub in Malaysia to serve the Asia Pacific region | 32 | Global payment firm Mastercard said in a statement that the hub will also nurture a talent pipeline across a range of capabilities focusing on data science, product development and payments consulting. According to the statement, Mastercard’s D&S experts globally work with nearly 4,000 clients in over 120 countries, drawing on Mastercard’s extensive expertise, data, and technology to offer solutions that cover everything from hyper-personalized loyalty programs, to product prototyping, to end-to-end marketing solutions that span the customer journey. Mastercard D&S Hubs are knowledge centers dedicated to this arm of the business and are located around the world, and the new hub in Kuala Lumpur will build on the success of other hubs in Asia and globally. The hub in Kuala Lumpur will support the organization in the provision of solutions to partners in the areas of cybersecurity, credit risk, and data analytics to help local clients and those across the region to scale and enable their businesses’ potential. “Malaysia is committed to becoming a leader in shaping digitalization across Asia Pacific (APAC),” said Fahmi Fadzil, Minister of Communications and Digital, Malaysia. “The launch of Mastercard’s Data & Services Hub in Kuala Lumpur is a very good opportunity for us to become a more integral part of the region’s digital landscape, while helping to strengthen our local talent pool in this increasingly important part of the digital economy,“We look forward to building on our relationship with Mastercard to help create more mutually beneficial opportunities in the future,” he added. The launch reflects Mastercard’s commitment to bring global expertise and innovation to the APAC region as well as nurture homegrown talent to thrive in the digital economy. The new hub will become part of a growing global team that includes thousands of data scientists, engineers and consultants, and will support businesses and governments in Malaysia and APAC to make more data-driven decisions and optimize performance and profitability. “Mastercard is passionate about offering next-generation services and value to customers – from retail and commerce, financial and non-financial institutions to governments – empowering them to solve business problems from end-to-end,” said Ari Sarker, President, Asia Pacific, Mastercard. “APAC is a powerhouse of economic growth, and we’re seeing many of the emerging markets across the region leapfrog some of the more conventional steps towards digitalization, “This kind of rapid change demands dedicated expertise—the type of which will be offered by Mastercard’s newest Data & Services Hub in Kuala Lumpur, which will support the organization in servicing clients from Southeast Asia to China, Japan, Australia and New Zealand,” he added. The launch of the D&S Hub comes following the announcement in March of a partnership between Mastercard and Universiti Teknologi Malaysia (UTM) to build a Cyber Innovation Hub. Leveraging Mastercard’s cybersecurity expertise alongside UTM’s education infrastructure, the new facility will offer skills training and courses on cybersecurity related fields to students and mid-career professionals, aiming to build a cyber-ready workforce and strengthen the country’s digital resilience. Mastercard Music Pass NFT opens access to groundbreaking Web3 training program for emerging musical artists |
https://technode.global/2023/05/09/city-university-of-hong-kong-launches-hk-tech-300-southeast-asia-start-up-competition/ | City University of Hong Kong launches HK Tech 300 Southeast Asia Start-up Competition | 32 | City University of Hong KongA large-scale flagship innovation and entrepreneurship programm by City University of Hong Kong, HK Tech 300 was organized with a total commitment of up to HK$600 million ($76.46 million), City University of Hong Kong said in a statement. The HK Tech 300 SEA Competition is being held in partnership with universities and incubators in the region, including Universiti Malaya (UM) and Universiti Putra Malaysia (UPM) from Malaysia, Universiti Brunei Darussalam (UBD) from Brunei Darussalam, Chulalongkorn University from Thailand, Malaysia Digital Economy Corporation (MDEC), Selangor Information Technology and Digital Economy Corporation (SIDEC), and various chambers of commerce. Through these partners, the competition will bring together the most promising start-ups in the region to join the competition. The top ten winners will each be awarded Angel Fund investment of up to HK$1 million ($130,000), providing a significant boost for their entrepreneurial endeavours. “We are thrilled to expand our successful HK Tech 300 initiative to Southeast Asia,” said Professor Way Kuo, President and University Distinguished Professor of City University of Hong Kong. “This competition presents a unique opportunity for aspiring entrepreneurs in the region to gain exposure and secure funding for their projects, and will help translate City University of Hong Kong’s outstanding research into applications, which can have a transformative impact on the entrepreneurship landscape here,“We are excited to witness the positive impact of HK Tech 300 on the region and are committed to supporting and empowering innovative ideas in this part of the world,” he added. Since its launch in March 2021, the HK Tech 300 program has made significant strides towards its goal of creating 300 start-ups within three years. With a total allocation of HK$500 million ($63.71 million) in 2021, the program is a strategic move to translate City University of Hong Kong’s groundbreaking research results and intellectual property into practical applications, while simultaneously providing valuable opportunities for young talent and aspiring entrepreneurs to grow and learn. To further support the program, the university added an additional of HK$100 million ($12.74 million) this year. To date, HK Tech 300 has cultivated more than 560 start-up teams, each of which received a HK$100,000 ($12,743) Seed Fund, and it has provided up to HK$1 million ($130,000) in Angel Fund investment to more than 110 start-up companies. Riding on the success and positive impact of the program, City University of Hong Kong has expanded the HK Tech 300 initiative to Southeast Asia, with Malaysia chosen as the location for the launch of the inaugural HK Tech 300 SEA Competition, demonstrating its vision and determination to make HK Tech 300 the biggest university-based innovation and entrepreneurship program in Asia. The expansion aims to promote technology transfer and commercialization in the region, showcasing the university’s commitment to support Southeast Asian start-ups in expanding their business to Hong Kong, Mainland China and the whole region, leveraging the unique advantages and resources available in Hong Kong. “A thriving small and medium enterprise (SME) and start-up ecosystem is essential for sustainable digital development,” said Khaled Mohamed Nordin, Minister of Higher Education, Malaysia. “The Malaysian Higher Education Ministry welcomes City University of Hong Kong’s decision to launch this regional edition of HK Tech 300 in Malaysia, as it demonstrates the success of Malaysia’s efforts to accelerate the digital economy and produce knowledgeable graduates with excellent marketability,“I believe the exposure and guidance they will receive from the competition, will enable them to contribute to the expanding digital ecosystem,” he added. Hong Kong’s FWD partners Malaysia’s Artem Ventures to launch $10.22M fund |
https://technode.global/2023/05/08/cimb-introduces-suite-of-ev-financial-solutions-in-malaysia-to-drive-ev-adoption/ | CIMB introduces suite of EV financial solutions in Malaysia to drive EV adoption | 33 | Malaysian lenders CIMB said in a statement that the set of EV solutions address the needs of consumers across every aspect of owning an EV, including financing, insurance protection and a range of exclusive privileges. In supporting the shift towards sustainable mobility, it said the solutions make it easier for consumers to purchase and own EVs with confidence, knowing that they have access to a range of value-add benefits unique to CIMB customers. “Through this market leading offering, we are able to deliver greater value by making the customer’s EV ownership journey accessible, convenient and even more rewarding,” said Effendy Shahul Hamid, Chief Executive Officer, Group Consumer and Digital Banking of CIMB Group. He also said the bank will continue to offer innovative sustainable finance solutions that encourage Malaysians toDuring the introductory campaign which runs until April 30, 2024, customers will enjoy a variety of financing, insurance and other benefits. These include preferential fixed rates as low as 1.98 percent per annum on financing for EVs, and up to a 90 percent margin of financing with a repayment period of up to nine years. The bank is also providing a ‘green lane’ for expedited approvals within eight hours. Beyond financing, CIMB and its bancassurance partner Berjaya Sompo Insurance Berhad have teamed up to offer greater value and first-in-market complimentary EV benefits on motor insurance. Tailored to CIMB customers who take up Secure Motor insurance with Berjaya Sompo through CIMB Auto Finance Centres, the benefits are available for both new and used EVs of up to eight years old. As part of the collaboration, CIMB customers will enjoy a 5 percent discount on EV premium rates, as well as a 10 percent cash rebate on premiums. EV owners will also be entitled to complimentary comprehensive EV pack coverage exclusive to CIMB customers. This includes coverage on EV home wall chargers of up to MYR15,000 ($3380) in the event of incidents such as fire, theft, lightning, explosions and flooding, as well as MYR50,000 （$11,268） in personal liability coverage on accidents whilst using electric vehicle chargers. On top of these, the coverage includes unlimited towing to the nearest EV charging station. In addition, CIMB is also offering an additional sign-up benefit of free Touch ‘n Go radio frequency identification (RFID) tags for those that do take up EV Financing with CIMB. At the same time, CIMB customers can enjoy a 0 percent Flexi Payment Plan of 12 months when they purchase an EV home wall charger from car dealers using selected CIMB credit cards. Given the growing availability of EV models and infrastructure in the market, coupled with the extension of Malaysia’s EV tax incentives and exemption, CIMB anticipates substantial growth in demand for EV financing. CIMB recorded strong year-on-year green vehicle financing growth of 350 percent in 2022, and it intends to accelerate growth in this segment as part of its sustainable financeCIMB Group aims to mobilize MYR60 billion ($13.52 billion) in Green, Social, Sustainable Impact Products and Services (GSSIPS) across its markets by 2024. As part of its EV initiatives, CIMB recently installed its first EV charging stations at its CIMB Preferred branch at Plaza Damansara. The bank will soon be adding more EV charging stations for its customers. With the growing awareness and interest in environmental, social and governance (ESG) among consumers, CIMB offers a complete suite of sustainable finance solutions that makes it easier for consumers to adopt sustainable practices in an accessible and rewarding manner. Besides green financing for homes or vehicles, this also includes other ESG-aligned offerings such as products that enable financial inclusion, wealth products and environmentally-focused deposits. Malaysia’s largest lender Maybank introduces financing solution for electric vehicle |
https://technode.global/2023/05/08/indonesia-and-malaysia-announce-commercial-launch-of-cross-border-qr-payment-linkage/ | Indonesia and Malaysia announce commercial launch of cross-border QR payment linkage | 33 | Bank Indonesia (BI) BNM said in a statement that the commercial launch of this linkage follows from the successful completion of the pilot phase of the linkage announced on January 27, 2022. According to the statement, the commercial launch of this linkage sees the number of participating financial institutions which include non-banks increase. It said this will enable more Indonesians and Malaysians to make instant retail payments in either country by scanning Quick Response Code Indonesian Standard (QRIS) or DuitNow QR codes at physical stores or online merchants using services offered by participating financial institutions. “ASEAN is more connected now than ever. Many more users from Malaysia and Indonesia will benefit from a secure, more seamless and more efficient experience to make and receive cross-border payments, “This in turn has significant potential to boost economic activities, including tourism spending in our two countries,” BNM Governor Nor Shamsiah Mohd Yunus said. According to her, the payment linkage will also help expand markets for some businesses and facilitate increased settlements in local currency, thereby improving financial outcomes. She also said the QR payment linkage between Malaysia andMeanwhile, governor of Bank Indonesia Perry Warjiyo said that the cross-border QR payment linkage between Indonesia and Malaysia is concrete evidence of strengthened cooperation on Regional Payment Connectivity to promote faster, cheaper, more transparent and more inclusive cross-border payments, particularly for the benefits of micro, small and medium enterprises. “The linkage aligns with the G20 initiative in establishing the Roadmap for Enhancing Cross Border Payments, and serves as a significant deliverable of Indonesia’s chairmanship of the ASEAN in 2023, as well represents another milestone of the Indonesian Payment System Blueprint 2025, “It provides more options for users in cross-border payment transactions and serves as a key to improve efficiency, to promote digital economy and financial inclusion in the region, as well as to maintain macroeconomic stability by promoting more extensive use of local currency for bilateral transactions under the Local Currency Transaction Framework,” he added. According to the statement, the QR payment linkage will strengthen the close economic ties between Indonesia and Malaysia. It would also support a more inclusive and stronger post-pandemic economic recovery. As international travel gathers momentum, the payment linkage is expected to not only provide travellers greater convenience, but also benefit the tourism and retail sector of both economies. It is noted that the successful launch of the payment linkage is a result of close industry collaboration championed by BI and BNM which worked closely with the Indonesian Payment System Association (which include its member payment system operators in Indonesia), PayNet4 , and participating financial institutions. BI and BNM also welcome participation from more financial institutions to further expand the cross-border payments ecosystem. Malaysia, Indonesia central banks launch cross border QR payment linkage |
https://technode.global/2023/05/04/sunway-gentari-and-ev-connection-ink-mou-to-develop-electric-vehicle-charging-infrastructure-across-malaysia/ | Sunway, Gentari and EV Connection ink MoU to develop Electric Vehicle charging infrastructure across Malaysia | 33 | Malaysian conglomerate Through this collaboration, Gentari via its wholly owned subsidiary, Gentari Green Mobility Sdn Bhd, will be a co-development partner for EV charging stations at Sunway’s integrated townships and developments throughout Malaysia, the trio said in a statement on Wednesday. This agreement will also see EV Connection work with Sunway to identify strategic locations for the installation of these charging stations at Sunway’s integrated townships and developments throughout Malaysia to reduce range anxiety. With the increasing rate of electric vehicles adoption and a growing consciousness for more sustainable options among Malaysians, this partnership between Sunway, Gentari and EV Connection is a step towards the government’s stated goal of being a carbon-neutral economy by 2050. “EVs are increasingly the preferred option among Malaysians. The growing number of EVs will require a robust network of charging stations throughout the country,“This partnership is a concrete step towards that goal. At Sunway, we firmly believe that we can all do well by doing good,” said Jeffrey Cheah, Sunway Group Founder and Chairman. Shah Yang Razalli, Gentari’s Chief Green Mobility Officer, said this MoU with Sunway and its partner EV Connection, is another testament of Gentari’s continued effort to drive green mobility adoption. “Sunway’s position as a major developer of both commercial and residential properties across Malaysia, enables Gentari to allow EV infrastructure access to more users across residential, workplace and recreation destinations,” he added. Ir Lee Yuen How, Managing Director of EV Connection, said this tri-partied partnership is a collective effort to bring together property owners and charge point operators towards a common goal of driving electric mobility revolution in the region. “I hope that it will set precedent towards more collaborations to come and building a cleaner and sustainable future,” he added. It is noted that under the Low Carbon Mobility Blueprint 2021-2023, Malaysia aims to have EVs and hybrid vehicles account for at least 15 percent of the total industry volume by 2030. In addition, the government is targeting to have 10,000 EV charging stations nationwide by 2025. Established in 1974, Sunway is a conglomerate with 13 business divisions across more than 50 locations primarily in Asia. Its 16,000-team is involved in diverse businesses including core interests in real estate, construction, education, healthcare, retail and hospitality. Its three public-listed companies — Sunway Berhad, Sunway Construction Group Berhad, and Sunway REIT, have a combined market capitalization of MYR15 billion ($3.37 billion). Gentari is a clean energy company focused on delivering the net zero solutions required to put cleaner energy into action. The firm offers lower carbon solutions through three initial core pillars – renewable energy, hydrogen and green mobility, forming a portfolio of solutions cuttingEV Connection is an EV charging company with an integrated portfolio of EV charging station hardware supply, installation, operation, maintenance and cloud services. A one-stop EV charging service provider via the JomCharge mobile app, EV Connection is the authorized EV charging station distributor. Malaysian conglomerate Sunway to launch largest indoor vertical farm in KL city center |
https://technode.global/2023/05/02/malaysias-homa2u-secures-875000-funding-from-singapore-based-quest-ventures/ | Malaysia’s HOMA2U secures $875,000 funding from Singapore-based Quest Ventures | 33 | HOMA Sdn Bhd (HOMA2U)HOMA2U said in a statement that the investment round was led by Quest Ventures Asia Fund II, an early-stage venture capital fund managed by Quest Ventures Pte Ltd, a Singapore-based venture capital firm. This is Quest Ventures Asia Fund II’s second cheque for HOMA2U. The investment round also includes Worldwide Management Solutions and Qhazanah Sabah Berhad (QSB), the strategic investment arm of the Sabah state government. According to the statement, the funds will fuel HOMA2U’s regional expansion plans to capitalize on a fast-growing market, accelerate product development and expand its market capitalization value, all while striving to promote a circular economy within the renovation and interior design industry. The investment will also be used to support HOMA2U with its growth acceleration and scaling plans to realize its goal of becoming an MYR100 million ($22.42 million) annual revenue-generating company before 2025. HOMA2U will also channel the funds to help more people amplify their commitment to environmental, social and governance (ESG) sustainability as well as help them meet their ESG goals through their Yellow Boxes and online platform. HOMA2U is working towards growing the business threefold and will be concentrating its efforts on opening a total of 18 Yellow Boxes throughout Malaysia and Singapore. Touted as Malaysia’s first unmanned interior product showrooms, the Yellow Boxes are mobile pop-up outlets that offer offline-to-online purchase services for visitors. HOMA2U is looking to establish the first Yellow Box in Singapore as early as Q32023. Pennie Lim, the Founder and Chief Executive Officer of HOMA2U, said the fresh funding is a positive sign of health for HOMA2U – considering the wider context of economic pessimism that the property market is currently experiencing. According to her, this investment will be part of HOMA2U’s push to ensure added value and elevated convenience for customers as they renovate their homes. “We know that customers want renovation solutions that are seamless and engaging, with everything available under one roof,” she said. She also said the funding will enable the firm to deliver on its plans to make high-quality, affordable and sustainable home interiors with renovation products easily accessible to all, essentially contributing to a total solution and wholesome experience for them. “At HOMA2U, we do not just stop there. We also help our customers meet their ESG sustainable goals and practices from a design and aesthetic point as well as from the impact of the renovation materials on our environment,” she added. HOMA2U now has 20 team members working on business development, customer service and marketing. “Sustainability is ingrained into the work that we do and the solutions we offer. We champion reducing, reusing and repurposing,” said James Yeoh, Co-Founder and Chief Strategy Officer of HOMA2U. According to him, this strategy includes acquiring building materials and interior finishing products from unused renovation materials, discarded materials and ageing stocks from merchant brands that are refurbished. “This gives our customers a worry-free approach to sustainable renovation, “This investment will allow us to tap a wider market, enabling us to make our footprint in Singapore and create environmental impact regionally,” he added. Meanwhile, the participating investment companies strongly believe that this synergistic partnership will further fortify HOMA2U’s strengths in revolutionizing an archaic industry and an untapped market with vast potential. The funds will also reinforce Singapore’s commitment to reducing its carbon footprint and support its ESG sustainability goals. The construction and renovation industry is quickly adopting circular economy concepts that emphasize sustainability standards and optimal usage of natural resources. By integrating environmentally friendly practices and social responsibility into their business offerings, HOMA2U hopes to set new standards in design and sustainability, helping more individuals and businesses bolster strategies to achieve net zero carbon emission targets. “The building, construction and renovation industries have traditionally been characterized as oligopolistic markets, making them near-impenetrable, “HOMA2U has innovatively broken the market entry barriers and levelled the playing field using digital capabilities and data interoperability as ammunition,” said Jeffrey Seah, Asia Fund Partner at Quest Ventures. According to hi, this has enabled them to offer their solutions to the masses around the clock, creating impact at every turn. “This is the very fabric of the digital economy we espouse at Asia Fund II which is encapsulated as digital disruption without leaving anyone behind,” he added. Earlier in 2021, HOMA2U secured a series of funding amounting to MYR2.4 million ($567,000) from Warisan Quantum Management as well as ScaleUp Malaysia with investment partner, Quest Ventures Pte Ltd where HOMA2U emerged as one of the top 10 startups in the ScaleUp Malaysia’s Accelerator programme Cohort 2. Malaysia home finishing product marketplace HOMA2U bags $567K funding |
https://technode.global/2023/05/01/bigpay-announces-leadership-transition-as-capital-a-commits-to-sustain-growth-in-fintech-business/ | BigPay announces leadership transition as Capital A commits to sustain growth in fintech business | 33 | BigPayZubin was the Malaysia country head for BigPay the past year, and succeeds Salim Dhanani who stepped down in February to pursue a new opportunity outside of BigPay, Capital A said in a statement on last Friday. “Zubin takes the helm of this great company at a time of strong, sustained performance and we are confident that he will continue to grow BigPay’s mission of giving Southeast Asians the financial services they need to level up their lives, one transaction at a time,“We are excited for BigPay’s next step as we seek to tighten our links with AirAsia guests to provide a seamless travel payment experience within the Capital A ecosystem,” said Colin Currie, President, Chief Executive Officer of airasia Digital. Meanwhile, Zubin said he will leverage my nearly 20 years of experience across financial services and capital markets to better provide BigPay customers with the accessible and supportive products they need to live better lives. “With an increased focus on our customers and deeper collaboration with airasia Superapp, I am confident in achieving greater growth for BigPay, which saw 56 percent year on year growth in revenue and a 43 percent improvement in gross profit margins, “We have a stellar, talented team behind the business, who are instrumental in deepening and expanding our footprint in Malaysia and across Asean, with a planned launch in Thailand later this year, followed by Indonesia and the Philippines,” he said. Before joining BigPay, Zubin was a Partner with the Boston Consulting Group for over six years, where he focused on financial services, including: the design of digital banks in Singapore and Malaysia; large-scale bank operating model transformations; and the build and launch of innovative digital products. He was also a Co-Founder of Tuas Capital Partners, a private equity fund. Prior, he played a strategy role at Hong Leong Bank where he helped set up a new subsidiary in Vietnam, and supported Malaysia’s last major retail banking merger. He began his career in KPMG Business Advisory, supporting financial institutions across financial risk and strategy. Zubin holds a Bachelor of Arts in Philosophy, Politics and Economics from the University of Oxford. Founded in 2017, BigPay is a firm provides financial services from payments to international transfers, credit, micro-insurance, personal loans, and smart budgeting. The firm currently has 1.3 million transacting and carded users which represents nearly 50 percent growth year on year. In 2022, BigPay launched various regulated financial products and services in Malaysia, such as BigPay Personal Loans, DuitNow QR, and DuitNow transfer. Most recently, BigPay has also hit MYR1 billion ($220 million) in gross transaction value (GTV) on its international remittance feature. Capital A is an investment holding company with a portfolio of synergistic travel and lifestyle businesses that leverage data and technology. As the new corporate identity of the former AirAsia Group Berhad, Capital A has transformed from an airline to a digital travel and lifestyle brand, comprised of main business verticals– aviation (Airlines), aviation services (ADE, Santan, GTR), airasia Superapp (airasia food, airasia ride among others), and ventures (AirAsia Academy, RedBeat Capital among others), as well as logistics venture Teleport and fintech portfolio company, BigPay. BigPay launches into the cryptocurrency space in partnership with TripleA |
https://technode.global/2023/04/27/axiatas-fintech-arm-boost-holdings-said-to-be-weighing-funding-round-report/ | Axiata’s FinTech arm Boost Holdings said to be weighing funding round – report | 33 | Boost Holdings, a FinTech unit of Axiata Group Bhd is weighing raising $50 million to $100 million in a new funding round,Boost Holdings is said to be working with a financial adviser on the potential fundraising, which may give the start-up a valuation of $700 million, the people reportedly said. The funding round would help finance the expansion of Boost’s digital banking operations, the people added. According to the report, deliberations “are ongoing”, and there is no guarantee Boost will proceed with the planned offering. Representatives of Axiata and Boost declined to comment, the report added. The consortium of Boost and RHB Bank Bhd was one of the five groups that has been awarded a digital banking license from Malaysia’s central bank last year. In a According to him, as of 2022, Boost has accumulated an excellent track record of disbursing over MYR2.5 billion worth of loans in Malaysia and Indonesia since inception, while also recording an increase of over 70 percent year-on-year in loans disbursed across the two countries in 2022. Not only that, Boost also recorded about 90 percent repeat rate on short-term loans as of 2022. Despite around 40 percent of its customers had never received credit from other financial service providers before, Boost maintained a healthy single-digit non-performing-loan (NPL) rate, he noted. Boost is the regional fintech unit of Axiata, offering an all-in-one app, merchant solutions, artificial intelligence-based lending and a cross-border payment platform. It serves millions of customers across seven countries in Southeast Asia, the site shows. In 2020, Axiata sold a 21.9 percent stake in Boost to Great Eastern Holdings Ltd, the insurance arm of Singapore’s Oversea-Chinese Banking Corp (OCBC) for $70 million, according to earlier reports. The investment valued Boost at $320 million, Malaysia-headquartered telco Axiata has controlling interests in six mobile operators under the brand names of ‘Celcom’ in Malaysia, ‘XL’ in Indonesia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia and ‘Ncell’ in Nepal, as well as minority interests in ‘Idea’ in India and ‘M1’ in Singapore. Axiata’s Boost to leverage ecosystem as it prepares to launch its digital bank. Here’s how and why. [Q&A] |
https://technode.global/2023/04/27/airasia-superapp-average-monthly-active-users-up-12-percent-q-o-q-in-first-quarter/ | Airasia SuperApp average monthly active users up 12 percent q-o-q in first quarter | 33 | Airasia SuperApp recorded 12.9 million average monthly active users (MAU) in the first quarter of 2023, up by 12 percent quarter on quarter, its parent firm Capital A said in a statement that the number of airasia SuperApp transactions also reached 5.98 million, up by 99 percent year on year but down by 19 percent quarter on quarter. According to the statement, the growth of MAU and transactions were mainly driven by increased AirAsia flight capacity, the continuous growth of the travel-related line of businesses (Hotels and SNAP) and airasia ride. Capital A said the decrease in the number of airasia SuperApp transactions quarter on quarter is not unexpected where most of the travel related activities are usually highest in the last quarter of the year. Meanwhile, Capital A’s digital e-wallet BigPay achieved 1.37 million carded users in the first quarter, improved by 17 percent year on year and recorded almost 55,000 new carded users since the last quarter. Additionally, the launch of an exclusive 5 percent discount on AirAsia flights bolstered ecosystem spending, which contributed to an increase in BigPay overall gross transaction Value (GTV) of 59 percent year on year and 6 percent quarter on quarter. Capital A’s logistics arm Teleport, on the other hand, continues to grow its e-commerce delivery business and has added dedicated freighter capacity to extend its mid-mile offering. This enhanced scale capability allied with the addition of new large accounts saw 5.7 million parcels delivered in the first quarter, equivalent to 71 percent of fiscal year 2022 total volume in just three months. This also represents a 502 percent increase year on year. Teleport cargo segment performance is also up by 39 percent year on year and 15 percent quarter on quarter, having Teleported 35,723 tonnes in the first quarter, owing to the return of AirAsia international passenger flights and increased contribution from global freight forwarders. “We are excited to announce that our aviation group has made significant progress in the new year, with passengers and capacity exceeding 70 percent recovery levels, “In addition to that, our digital and logistics businesses are reaping the rewards as travel takes off. Our focus remains on reactivating all of our 210 aircraft while providing a seamless travel experience to our guests,” said Capital A. It is noted that the consolidated airlines (consist of AirAsia Malaysia, AirAsia Thailand, AirAsia Indonesia and AirAsia Philippines) had activated 157 aircraft, of which 142 were operating and 15 were spares. The increased operating aircraft, as well as robust travel demand resulted in strong passenger traffic of 13.2 million, representing a 153 percent and 11 percent growth year-on-year and quarter-on-quarter respectively. The group operated 14.8 million seats in the first quarter, 71 percent of first quarter of 2019 levels, with load factor of 89 percent, at par with pre-pandemic levels. Airasia super app completes Asean expansion with official launch of platform in Indonesia |
https://technode.global/2023/04/26/malaysian-ai-startup-vox-scores-250k-investment-from-silicon-valley/ | Malaysian AI Startup VOX scores $250,000 investment from Silicon Valley | 33 | Malaysian-born artificial intelligence (AI) startup VOX said in a statement that the investment is aimed at covering operational costs of the platform for the first 50,000 users, which enables the team to put all their effort into innovating the user experience and workflows. “To truly revolutionize workflows, we need to seamlessly connect to proprietary data sources,“We are currently in discussions with various strategic partners to accomplish that,” said Simone, Chief Executive Officer of VOX. He also elaborated at length about being a platform that anyone can build on, as well as privacy and security being a key pillar of any development, given the sensitive nature of any organization’s data. Sharly AI addresses a universal problem: parsing through information takes time. Oftentimes key facts are hidden in long documents, audio recordings or videos. According to the statement, in today’s world that people are rushing between back-to-back meetings, with only small screens in their hands, the average worker spends nearly five hours per day reading documents and emails. Thus, a solution like Sharly AI will revolutionize productivity, for professionals to focus on actual decision making. In a world where AI and generative applications continue to reshape industries, it said Sharly AI is believed to be a game-changer. With the potent combination of Generative AI based technology, a relentless team, and ambitious goals, VOX believed the firm is well on its way of cracking the global market. “While ChatGPT and similar models provide simple APIs to connect to, they come with a lot inherent limitations,” said Davide, the Chief Technology Officer of VOX. “Our experience from previous products really helped to plug the holes, tune the model to be able to deal with thousands of pages while staying grounded in factual knowledge,” he added. Malaysia’s Soft Space raises $31.5M Series B1 funding led by Southern Capital Group |
https://technode.global/2023/04/20/malaysian-central-bank-to-co-host-virtual-aml-cft-hackathon-2023-to-help-crack-down-on-financial-crime/ | Malaysia Central Bank to co-host virtual AML/CFT Hackathon 2023 to help crack down on financial crime | 33 | Malaysia’s Central BankBank Negara Malaysia (BNM) Deputy Governor Marzunisham Omar said in a statement on Thursday that global challenges require global solutions. “Financial crime is a global issue, and we all have a role to play in maintaining the integrity of the financial system,“We are pleased to continue our long-term partnership with FICG through this search for creative solutions to curb financial crimes, particularly scams, from talented individuals across the region,” he added. The AML/CFT Hackathon 2023, which will be held virtually, will feature workshops and mentoring sessions run by experts in cybersecurity and anti-money laundering/counter-financing of terrorism (AML/CFT). Participants will work in teams to prototype innovative digital solutions to specific problem statements identified by the organizers, which reflect real-world pain points in combating serious financial crimes today. Pitches will be evaluated in three separate tracks to reflect different categories of participants: public sector (e. g. , law enforcement agencies), private sector (e. g. , reporting institutions, fintech companies) and open category (e. g. , freelance developers, students). Participants stand a chance to win up to $5,000 as well as an opportunity to present their winning prototypes to senior financial intelligence officials from across the region. The AML/CFT Hackathon 2023 builds upon past efforts by BNM and Australian Transaction Reports and Analysis Centre (AUSTRAC), and is now in its third instalment following the International FIU Codeathon in 2017 and the ASEAN- Australia Codeathon in 2018. Prototypes developed include, amongst others, enhancement of AML/CFT compliance and suspicious matter reporting by applying artificial intelligence. Malaysia, Singapore announces cross-border QR code payment linkage |
https://technode.global/2023/04/20/breakeven-is-near-for-carsome-says-ceo-eric-cheng/ | Breakeven is near for Malaysian unicorn Carsome, says CEO Eric Cheng | 33 | Editor’s note:Malaysia-headquartered used car e-commerce platform “We’ve been seeing consistent growth coming not just from the volume of the transactions but at the same time, the margin potential has also been increasing with the help of retail business and ancillary services,” its Co-Founder and Chief Executive Officer Eric Cheng said in a recent “We have already achieved quite a good level of control when it comes to being more disciplined in looking at how we control costs within the entire business. So all this combined actually got us much more closer to breakeven level,” he said. When pressed about the timeline of such an announcement, Cheng said, “[a] couple of months from now… I believe that by the second half of this year, we’ll see something. ”Carsome announced The plan includes accelerating its integration with the newly-acquired iCar and WapCar ecosystem of companies, as well as “employee base optimization”, and automation of processes to further increase group efficiency, Carsome said then. As part of the “employee base optimization”, the Malaysia-based unicorn said it will focus on improving productivity across the business, aligning resources with contributions to the bottom line, and enforcing stricter performance management. It is understood that less than 10 percent of the workforce was affected, according to the report then. In addition, the executive team is forgoing their salaries for the remainder of 2022 to help contribute to an ex gratia payment for departing team members, the company said then. Carsome currently has more than 4,000 employees across all its markets. In January last year, Carsome completed its $290 million Series E round, increasing the company’s valuation to approximately $1.7 billion. The financing round was jointly led by Qatar Investment Authority (QIA), 65 Equity Partners (65EP) and Seatown Private Capital Master Fund (Seatown). The round also saw strong participation from investors such as Mediatek, Sunway, Gokongwei Group, YTL Group, and Taiwan Mobile. Carsome has become Malaysia’s first tech unicorn as part of a share-swap deal that take a stake in iCar Asia in July 2021. In Southeast Asia, Carsome competes with Singapore-based Carro, Indonesia’s OLX Auto and Carousell Auto Group. One of its rivals, Softbank-backed Carro, announced it has achieved profitability in its last financial year ended March 2022 (FY2022) as revenue more than doubled to S$650 million ($463.49 million). Cheng said in the interview that its revenue last year surged to $1.5 billion from about $650 million in 2021. Founded in 2015, Carsome provides end-to-end solutions to consumers and used car dealers, from car inspection to ownership transfer to financing, promising a service that is “trusted, convenient and efficient”. It transacts more than 100,000 cars on an annualized basis, which translates to around $1 billion in revenue. It has expanded into Indonesia, Thailand and Singapore. Besides growing its market share in existing markets, Cheng said Carsome is also looking into new markets. “In fact, like in the Philippines, we have started a pilot operation. We have a small team in the Philippines that is starting to do [a] test run. I think the early signs [shows] that it is going to be positive just like the markets that we’re in,” he added. Besides geographical expansion, he said Carsome is looking to expand vertically, adding more ancillary revenue such as maintenance services and financing services which could also improve its margin potential. Last year,Meanwhile, on its postponed initial public offering plan, Cheng said the company wanted to be “ready” to go public. Carsome is said to be Featured photo credits: BFMMalaysia’s Carsome announces ‘group-wide accelerated profitability plan’ including job cuts |
https://technode.global/2023/04/19/scaleup-malaysia-announces-cohort-iv-and-investments-in-seven-companies/ | ScaleUp Malaysia announces Cohort IV and investments in seven Companies | 34 | ScaleUp MalaysiaIn a statement on Wednesday, ScaleUp Malaysia said the companies selected for Cohort IV are BeeBag, Docspe, Huddle, Petotum, Stayhere, and Kabel who will receive a $100,000 investment each, while the seventh company, Sonicboom, will receive an undisclosed strategic investment. It said that this cohort marks a significant milestone for the agency, with upfront investments for its accelerator program as opposed to at the end of the program as with previous cohorts. These companies will undergo a rigorous 12-week accelerator program aimed at refining their business models, developing regional scalability, and will culminate in a demo day with investors from all over the world. “We are delighted to welcome Cohort IV to our accelerator program, “Our selection process was highly competitive, and we are thrilled to have seven outstanding and diverse companies on board,” said Andre Sequerah, Managing Partner at ScaleUp Malaysia. According to him, these companies have been selected based on their potential to drive regional scalability and positive impact to society and the economy. “We are also happy to add two female founded companies to our portfolio which brings us to a total of 14 companies with female founders,” he added. According to the statement, the focus of the accelerator program is to equip the companies with the necessary skills and knowledge to take their businesses to the next level. The program will provide the companies with best practices in pitching, financial modelling, business strategy, and product development. “We are committed to providing our cohort companies with comprehensive support and resources to help them grow and succeed,” said Tay Shan Li, Managing Partner at ScaleUp Malaysia. According to him, the agency’s team of experienced mentors and advisors will guide them through the program to refine their business models and strategies to attract further funding and drive regional growth. “Over the past 3 cohorts we have designed best practices to work with our investee companies and have seen immense success in helping them regionalise and raise their next rounds,” he added. ScaleUp Malaysia received over 200 applications for Cohort IV, with a success rate of less than 4 percent. The firm received applications from countries all over the region including Hong Kong, Philippines, Vietnam, Singapore and Indonesia. Countries expressing interests came as far as from the United Kingdom and United States of America. Selected companies comprise of ventures in IOT, Health Tech, SportsTech, Pet Care, Travel Tech, HR Tech and Fintech. ScaleUp Malaysia is an accelerator that focuses exclusively on growth-stage companies in Malaysia – helping them position their business for exponential growth. The agency is founded by a team of experienced entrepreneurs, professionals and seasoned investors. Championing the concept of building “Pegasus” companies of building fast-growing profitable businesses, ScaleUp Malaysia companies go through a program that includes in-class training, one to one coaching and equity investment for selected companies. Selected List of CompaniesBeeBag – BeeBag is a smart retail startup working on gamifying sustainable shopping. The firm created a mobile app and the technology to transform ordinary reusables into smart reusables that reward shoppers for their sustainable actions. Docspe – Docspe is an integrated ecosystem, bridging gaps between healthcare providers. The firm is automating day-to-day operations for clinics and pharmacies, reducing friction and errors with an advanced electronic health record (EHR) solution. Huddle – Huddle uses artificial intelligence (AI) technology to stream thousands of live amateur and youth sporting events across the country straight to the palm of your hand. Petotum – Petotum is the first pet ecosystem integrator in Southeast Asia. The firm provides an integrated system for pet owners, lovers, businesses, and the community to revolutionize the pet care ecosystem. StayHere – StayHere is a one-stop vacation rental solution for proprietors with a vision to disrupt the accommodation industry in Asia, where unbranded premium apartment rental supply is still fragmented and under-serviced. Kabel – Kabel is an AI-powered job matching platform, similar to Tinder, that connects employers with university students for internships and job opportunities, helping early talents discover their career interests and develop work-ready skills, with the goal of becoming the top platform in Southeast Asia for launching careers. Sonicboom – Sonicboom is a top Malaysian fintech, transforms payment solutions for unattended businesses using software as a service (SaaS) and cloud-based tech. Excelling in parking, transportation and transit, the firm processes MYR 120 million ($27.08 million) cashless transactions yearly. ScaleUp Malaysia seeks to invest $1 million in ten startups |
https://technode.global/2023/04/18/city-energy-partners-gentari-for-hydrogen-import-and-to-connect-cross-border-ev-charging-networks/ | City Energy partners Gentari for hydrogen import and cross-border EV charging networks | 34 | Singapore’s gas utility providerThe two parties said in a statement on Tuesday that under the partnership, City Energy and Gentari will leverage each other’s strengths, expertise and resources to pursue opportunities in the import of hydrogen into Singapore. In addition to supporting Singapore’s National Hydrogen Strategy, which was announced in October 2022 as a key decarbonization pathway to support Singapore’s international climate commitment to achieve net zero emissions by 2050, the agreements enable City Energy to explore alternate sources of hydrogen to reinforce its decarbonization efforts. Both parties will also explore other hydrogen-related opportunities. “This strategic partnership between City Energy and Gentari is a key development for us,“As City Energy is the sole piped town gas provider for more than 880,000 homes and businesses, City Energy is well placed to establish a hydrogen supply for the futureIt is noted that Hydrogen is the largest component in town gas produced at City Energy’s Senoko Gasworks plant, making City Energy one of the largest last-mile carrier of hydrogen in Singapore. The collaboration with Gentari follows City Energy’s ongoing feasibility studies with leading industry partners and institutes of higher learning to explore alternative sources of hydrogen. “While Gentari aims to become the go-to industry partner for clean hydrogen, we want to be able to provide integrated clean energy solutions for customers in Asia Pacific, among others,” said Michèle Azalbert, Gentari’s Chief Hydrogen Officer. According to her, the collaboration with City Energy is taking a step towards the right path in providing that solution. “We believe this partnership will be the first of many in Singapore. We are committed to support Singapore in achieving net zero emissions by 2050,” she added. According to the statement, Gentari aims to produce up to 1.2 million tons per annum of clean hydrogen to address the future increase of clean energy demand. The collaboration with City Energy will accelerate the adoption of clean hydrogen as an energy source and signifies commitment towards providing clean hydrogen from Malaysia to Singapore. Meanwhile, the second MOU will see Go by City Energy (Go) and Gentari working together to deepen and expand the understanding of the EV market and behavior of EV users in Singapore and Malaysia, as well as co-deploying publicly accessible EV chargers on each other’s EV networks. The two parties will also explore and identify best practices for mobile roaming applications in both countries. In April 2022, City Energy launched its EV charging solution arm, Go, to provide EV charging solution as a service to commercial buildings, mixed developments, and private housing estates, to support Singapore’s set target of reduced land transport emissions by 80 percent from the 2016 peak by, or around 2050. As the EV charging service provider to offer cross-border connectivity into Malaysia through an operational service across Singapore and Malaysia with mobile application, Go now offers 118 charging points across more than 50 locations in Malaysia through its app, City Energy Go. This collaboration between Go and Gentari will accelerate the pace of charger deployments by both parties through co-deployment arrangements. Both parties will work on expanding their EV charging networks, allowing EV drivers in both Singapore and Malaysia connectivity and convenience. “Range anxiety is a real concern for electric car drivers. For those driving between Singapore and Malaysia, a seamless, highly accessible network of chargers will put their mind at ease, and this is what City Energy seeks to do with our partners across the Causeway,“As we continue our expansion of our Go by City Energy network of private and commercial developments in Singapore, we will distinguish ourselves through added value in the form of a robust cross-border EV network built on expanded connectivity into Malaysia,” said Ong. Gentari is the second Malaysian company City Energy is collaborating with for EV charging. The MOU between Gentari and Go will not only support EV infrastructure development in Singapore and Malaysia respectively, but also encourage the development of a robust cross-border EV network, ensuring a more seamless customer experience for EV drivers traveling between the two countries. “At Gentari, we are working with like-minded partners to support network development in driving sustainable mobility,“Today, we are partnering with City Energy to ensure a seamless driving experience for EV users between Malaysia and Singapore, and we hope this collaboration will also become Gentari’s foray into the Singapore market to support regional development of charging network within Asia Pacific,” said Shah Yang Razali, Gentari’s Deputy Chief Executive Officer and Chief Green Mobility Officer. Malaysia, Singapore announces cross-border QR code payment linkage |
https://technode.global/2023/04/18/malaysias-mdec-eyes-230m-digital-investments-by-2025/ | Malaysia’s MDEC eyes $230M digital investments by 2025 | 34 | The Malaysia Digital Economy Corp (MDEC)MDEC said in a statement on Monday that the agency has identified these nine promoted sectors covering digital tourism, digital agriculture, digital cities, digital content, digital finance, digital trade, digital services, digital health, and Islamic digital economy. According to the statement, these additional promoted sectors have been recognized to enhance digital readiness and competitiveness, as well as to drive innovation and collaboration among industry players. “The MYR1 billion ($230 million) worth of investment opportunities are expected to be generated through these promoted sectors by 2025, led by the public-private sector and industry collaborations,“We aim to achieve this through several strategic interventions,” said MDEC Chief Executive Officer Mahadhir Aziz. According to him, from this year until 2025, the agency is making strategic investments into each of the promoted sectors via the allocated budget on digital economy to accelerate their growth and development. Collectively, he said the government through MDEC has allocated a total of MYR238 million ($53.63 million) as public investment into these nine MD PEMANGKIN sectors. “We are investing heavily on industry development such as digital infrastructure, education, and providing our workforce with the skills they need to succeed in the digital economy,” he said. He also noted MYR45 million ($10.14 million) from the total investment will be used to enhance various technology enablers, such as blockchain, automation, artificial intelligence (AI), and more. “While MYR50 million ($11.27 million) from the total investment will be distributed through our digital matching grants. All this will be done via our PEMANGKIN,” he said. According to him, MDEC is actively addressing national problems through its strategic interventions and digital initiatives, and leveraging digital innovation to tackle challenges head-on and create positive societal impact. He also said MDEC’s Funding Facilitation team is actively engaged in negotiations with key private stakeholders and investors, aiming to secure an impressive total funding value of up to MYR160 million ($36.06 million). These efforts are being pursued through multiple collaborative initiatives as part of the dynamic DE Dagang campaign, which is co-funded by diverse private sectors encompassing tourism and craft, halal, agriculture, and exports, he added. “Our PEMANGKIN, will attract foreign and local investments, creating high quality jobs, and fostering innovation and entrepreneurship. This contributes to the overall economic development of the country and elevating Malaysia’s position in the global digital economy landscape,” he said. Recognizing that public-private partnerships are essential to harness the full potential of the digital economy, he said the agency is also actively engage with private sector partners, including corporations, venture capitalists, angel investors, and financial institutions, to co-invest in its digital initiatives. “Through collaborative funding models, we are able to leverage private sector resources, expertise, and networks to amplify the impact of our digital programs and initiatives,” he said. He also noted that these nine technology focus sectors have been identified as presenting high growth potential, opportunity, and importance in driving Malaysia’s next transformation in digital economy. He said the PEMANGKIN for these nine promoted sectors are strategically led by local tech companies and foreign investors, with the goal of leveraging their expertise and resources to drive growth and innovation in Malaysia’s digital economy. “MDEC strives to cultivate a collaborative ecosystem that empowers individuals and businesses to harness the vast potential of these promoted sectors, through concerted efforts involving both local and foreign stakeholders,” he said. Cited Malaysia Digital Technology Trends and Outlook 2030 study by MDEC Research Team, he said these nine promoted sectors are growing exponentially on a global level. “We want to seize the opportunities to enable individuals and businesses alike to leverage this immense potential within the nine promoted sectors to improve the economy in terms of wealth creation, industry to nurture innovation and productivity, as well as increasing the quality of life in society,” he said. Launched last year, Malaysia Digital (MD) is a national strategic initiative by the Government to encourage and attract companies, talents and investment while enabling Malaysian businesses and Malaysians to play a leading part in the global digital economy. According to the statement, the Ministry of Communications and Digital through MDEC will continue to introduce and roll out new PEMANGKIN programs in its bid to establish Malaysia as the digital hub of choice in ASEAN as well as to catalyze further opportunities for all, in line with Malaysia MADANI concept. MDEC has successfully rolled out two initial PEMANGKIN programs including DE Rantau and Digital Trade. DE Rantau is a program that aims to establish Malaysia as the preferred Digital Nomad Hub in a bid to boost digital adoption and to promote digital professional mobility and tourism in Kuala Lumpur, Langkawi, Penang, and several other locations in Malaysia. Digital Trade is a program that promotes interoperability and greater harmonization of standards and regulatory approaches as well as facilitated trade within and across borders. MDEC launches Malaysia Digital Climate Action Pledge for digital economy |
https://technode.global/2023/04/18/malaysias-care-concierge-aims-to-set-up-caregivers-academy-and-technology-app-with-funds-from-gdiv/ | Malaysia’s Care Concierge aims to set up caregivers academy and technology app with GDIV funds | 34 | Malaysian home care service provider Care Concierge said in a statement on Tuesday that firm aims to realize its vision of providing innovative solutions through technology and design thinking, to emerge as the leading provider of Holistic Senior Care in Malaysia. Thus, it will allocate the funds received from GDIV to support the company’s strategic expansion plans, primarily focused on two key areas. The first will focus towards the development of professional and certified caregivers through the establishment of the “Care Concierge Academy,” which will provide upskilling opportunities and a clear career path for professional caregivers. Secondly, it will be channelled towards the enhancement of the “Care Concierge App” with advanced technology. The Care Concierge apps will serve a two-pronged approach, serving as the primary learning platform for students and lecturers and provide an easy online access to study materials. At the same time, it will also be the main digitalized support platform to improve the quality and efficiency of senior care services. These initiatives represent a significant investment in the company’s commitment to providing excellent care services and further strengthening its position as a leader in the senior care industry. As part of Care Concierge’s founders’ mission to uplift the senior care industry, the “Care Concierge Academy” was established in partnership with a Malaysian university, “Universiti Tunku Abdul Rahman” (UTAR). Its primary role is to provide training, certification and equipping caregivers with the necessary qualifications for effective best-in-class care to seniors. Care Concierge opined that this will not only uplift the caregivers profession, but also address the shortage of quality professional caregivers and provide a fulfilling career path in this emerging industry. Therefore, a large portion of the fund will be utilized to strengthen the “Care Concierge Academy”, in the recruitment of the B40 youths (individuals under the age of 30 belonging to households with a monthly income within the bottom 40% of the population), to encourage them on this viable and emerging career path. Along with certifications, the academy will also review and expand their efforts to ramp up on recruitment and through this, Care Concierge will expand their senior living services footprint to other key cities. Over the years, Care Concierge has onboarded about 2,000 professional caregivers and specialists, delivering over 6.6 million hours of services to their clients. Part of the fund that will be utilized to enhance the app will also incorporate IoT technology to provide seniors with a more personalised and effective care, for their safety, at the same time to support and guide them to live healthier and more independent lives. The Care Concierge app also facilitates transparency in communications for the community of professional caregivers, other care specialists, seniors and their families. It tracks and monitors vitals, and logs tasks performed throughout the day, providing a summary of care for family members, who may be on-the-go or overseas. Care Concierge believes that its “Person-Centred Care” holistic approach ensures that the senior’s physical, cognitive and psychosocial well-being through professionalCare Concierge currently provides quality senior living care solutions, throughout its six lifestyle oriented Assisted Living Residences, totalling more than 350 rooms, within Klang Valley and Penang, Malaysia. With the additional funding received in this exercise, Care Concierge is expected to rollout an additional 1,000 rooms in the next three years. “Our mission at Care Concierge is to enrich the quality of life for the seniors and their family within their community, to lead a meaningful and purposeful life. ” said Care Concierge Founder and Chief Executive Officer Martin Yap. According to him, the firm strives to ensure that the seniors have access to quality care and services, and that their communities are built with their needs in mind. “With this in mind, we are committed to investing in developing professionals and expertise for the caregiver’s profession to cater to the care of our ageing population, “In collaboration with the government and higher learning institutions, Care Concierge Academy aims to support a healthy social and economic impact by providing the right and best care continuously for our seniors in generations to come,” he said. Gobi Partners onboards Care Concierge to the Khazanah-backed Gobi Dana Impak Ventures fund |
https://technode.global/2023/04/18/tokio-marine-finology-kirimman-partner-to-offer-insurance-to-gig-economy-workers-in-malaysia/ | Tokio Marine, Finology, KirimMan partner to offer insurance to gig economy workers in Malaysia | 34 | Tokio Marine Insurans (Malaysia) Berhad (Tokio Marine)Finology said in a statement that the new product, which is priced as low as MYR1 ($0.23) per day, offers gig workers affordable protection against accidents while on the job. It covers accidental death or permanent disablement, medical expenses due to accidents, and ambulance fees. The protection is enforced throughout the day, not limited to delivery trips. Cited a report by Google, Temasek, and Bain & Company, Finology said Southeast Asia’s internet economy is expected to hit $300 billion by 2025. With the gig economy playing a significant role in the growth of e-commerce, it expects the need for insurance coverage for gig workers to increase. According to Ng Hang Ming, Chief Executive Officer at Tokio Marine, the new product is a reflection of the company’s commitment to providing affordable insurance solutions to all Malaysians, regardless of their occupation or income level. “We believe that everyone deserves access to quality insurance protection, and we’re proud to partner with KirimMan and Finology to offer affordable insurance to gig workers,” he added. Tim Chee, Executive Director and Co-Founder of KirimMan, said that the new insurance product would help gig workers feel more secure while on the job. “As a logistics aggregator and provider who works with various logistic companies, we understand the risks that delivery riders face every day, “By offering affordable insurance coverage, we hope to provide them with the peace of mind they need to do their jobs effectively,” he added. While the focus is on the Personal Accident for Rider product, the collaboration has also resulted in Goods in Transit insurance. It offers logistics providers affordable coverage for goods in transit. With rates as low as MYR2 ($0.45) per parcel, the product provides sum insured coverage that is higher than other logistic providers. The Personal Accident for Rider and Goods in Transit products are available now for KirimMan customers. KirimMan currently handles more than 50,000 parcels monthly and is on track to double the figure by the end of 2023. The company has opened 40 outlets and is soon to double through an exclusive partnership with petrol stations. Robin Ang, Group CEO & Co-Founder of Finology, highlighted the company’s focus on enabling embedded insurance solutions for partners and making insurance more accessible through technology. “Our mission at Finology is to simplify insurance and make it more accessible to everyone. By leveraging our technology and expertise, we are dedicated to enabling embedded insurance solutions for our partners, “By partnering with Tokio Marine and KirimMan, we’re able to enable an affordable insurance product that’s easy to understand and easy to purchase,” he added. According to the statement, the collaboration between Tokio Marine, KirimMan, and Finology is part of a broader trend in Malaysia’s insurance industry towards digitalization and the use of technology to make insurance more accessible to all Malaysians. The Personal Accident for Rider and Goods in Transit products are designed to provide affordable and comprehensive insurance coverage to gig workers and logistics providers in Malaysia. KirimMan is a Malaysian-born logistic aggregator and supply-chain solution provider, by focusing on enabling hyperlocal, omni-channel commerce and distribution. It provides end-to-end tailored-made omni-channel distribution solutions to businesses and provides to consumers with innovative, convenient and cost-efficient fulfilment, delivery and concierge options. Since its inception, it had served many local and international brands and companies to reach their targeted customers. Finology is a fintech company that enables embedded finance. Its lending and insurance suites of API-driven solutions enable financial institutions (banks and insurance companies) and consumer-facing businesses such as property developers, automotive distributors, and digital players to seamlessly embed loans and insurance products and offer better digital experiences to their customers. Meanwhile, its direct-to-consumer brand, Loanstreet, promotes the financial products of banks and insurance companies. The Tokio Marine Group is engaged in a wide variety of businesses ranging from non-life insurance to life insurance, international insurance, financial and other general business. The group operates a worldwide network that spans 46 countries and regions to provide safety and security to customers. Malaysia InsurTech firm PolicyStreet. com raises $6M in Series A, receives in-principle approval for reinsurance & general insurance license |
https://technode.global/2023/04/17/touch-n-go-ewallet-users-can-pay-cashless-in-more-singapore-merchants/ | Touch ‘n Go eWallet users can pay cashless in more Singapore merchants | 34 | Touch ‘n GoTouch ‘n Go said in a statement on last Friday that since 2022, Touch ‘n Go eWallet users have been able to make payments for products and services at any Alipay+ merchants across Singapore. With the recently announced enablement via the DuitNow -NETS cross border partnership, Touch ‘n Go eWallet users can now scan and pay at any merchant displaying NETS QR via NETS payment terminals or SGQR, which include popular local kopitiams and hawkers that do not accept cards. With the above, the merchant network in Singapore accepting Touch ‘n Go eWallet has now grown to over 130,000 touchpoints, the widest cross border payment coverage for a Malaysian eWallet in Singapore. They will be able to conveniently transact in their own local currency with live foreign exchange rates, displayed in the Touch ‘n Go eWallet app before making a payment. “This new seamless and secure transaction feature further expands our eWallet ecosystem,” said Alan Ni, Chief Executive Officer of TNG Digital Sdn Bhd. As a company that emphasizes addressing customers’ needs, he said the firm is excited that this feature broadens cashless payment acceptance for its users. According to him, Malaysians travelling to Singapore can have peace of mind as they enjoy the convenience of making cashless payments, knowing the foreign exchange rate upfront, and tracking their expenses instantly. “The same convenient features are also extended to users with the Touch ‘n Go Visa card, the first numberless card in Malaysia,“With this card acting as a complementary payment channel to the eWallet, users will be able to make payments even at merchants that only accept cards,” he added. He said the firm is also excited to welcome visitors from Singapore to Malaysia to enjoy the seamless convenience of using their respective eWallets to make payments at more than 1.5 million merchant touchpoints nationwide by scanning the DuitNow QR code. He said this cross-border payment feature will not only help to support the tourism industry but also increase economic activity among the small and medium-sized retail businesses supported by Touch ‘n Go eWallet. According to the statement, Touch ‘n Go eWallet users can be assured their eWallet is protected and every transaction they make is safe and secure. Adding on to its stringent safety and security features, Touch ‘n Go eWallet has recently implemented the five key measures mandated by Malaysian Central Bank for banks to reinforce safeguards against fraudulent transactions. The Touch ‘n Go Group is Malaysia’s leading consumer facing financial-technology enterprise with a key focus in the country’s transportation ecosystems and platform-based payments infrastructure. It comprises the service offerings of Touch ‘n Go Sdn Bhd (Touch ‘n Go), a wholly owned subsidiary of CIMB Group and TNG Digital Sdn Bhd (TNG Digital), a joint venture between Touch ‘n Go and Ant Group, parent company of Alipay, China’s largest digital payments platform. The Touch ‘n Go Group of companies serve Malaysians who use its card, radio-frequency identification (RFID) and eWallet offerings to fulfil a host of daily transactions. Established in 2017, TNG Digital is the owner and operator of Touch ‘n Go eWallet, Malaysia’s eWallet company with more than 19 million registered users and over 1.2 million merchant touch points including DuitNow QR. Combining Touch ‘n Go’s strong domestic brand, dominance in toll, transit and parking use cases and nationwide user base, together with Ant’s deep domain expertise and leading the development of open platforms for technology-driven inclusive financial services, Touch ‘n Go eWallet provides financial services and payments services to both retail users and small to mid-sized businesses, across physical and online infrastructure. Touch ‘n Go eWallet establishes one-stop insurance hub GOprotect |
https://technode.global/2023/04/17/indias-betterplace-acquires-malaysian-flexi-talent-solutions-platform-troope/ | India’s BetterPlace acquires Malaysian flexi-talent solutions platform TROOPERS | 34 | BetterPlaceBetterPlace said in a statement that its acquisition of TROOPERS will accelerate its presence in the region and establish a stronger foothold in Southeast Asia. It said the acquisition will integrate TROOPERS’ automated gig matching and rostering features into BetterPlace’s comprehensive SaaS platform. According to Pravin Agarwala, Co-Founder and Group Chief Executive Officer of BetterPlace, Southeast Asia is expected to see a significant growth in demand for gig workers in the next five years, with the gig economy growing by 31 percent since 2017, well ahead of the growth in conventional workforce,In Malaysia alone, he said 84 percent of hiring managers prefer hiring gig-workers. “We are pleased to offer a robust SaaS solution catering to the growing market demand. Our comprehensive SaaS platform and artificial intelligence (AI) based algorithms, combined with TROOPERS; innovative flexi-talent solutions, enables enterprises to effectively tackle challenges such as high attrition rates, escalating labor and management costs, and skilled workforce shortages, “Concurrently, frontline workers can optimize their earning potential through TROOPERS’ proprietary gig matching algorithms,” he added. TROOPERS, founded in 2017, is a flexi-talent solutions platform that offers on-demand, pre-screened, part-time frontline workers to enterprises, enabling them to scale up their gig workforce based on operational demands. With a machine learning algorithm achieving a 95 percent matching rate, TROOPERS has helped over 50,000 gig workers in Malaysia find employment since its inception. As part of its ongoing commitment in building a flexible ecosystem, TROOPERS launched the TROOPERS App in 2021 which has since garnered over 180,000 verified users, generating over MYR20 million ($4.52m) in income for gig workers with more than 200,000 shifts transacted on the app. “Majority of the workforce ecosystem in Southeast Asia is informal, making it difficult for workers to discover supplementary jobs or increase their earning potential,“Additionally, workers do not have the necessary skills to match growing enterprise requirements,” said Joshua Tan, Co-Founder and Chief Executive Officer of TROOPERS. Building on the principles of transparency, accountability, and legitimacy, he said he started TROOPERS to address talent shortage and workforce productivity for enterprises while creating better livelihoods for workers in Malaysia. “We are eager to utilize BetterPlace’s technological prowess and industry knowledge to scale our offering, potentially transforming the landscape of frontline work in Southeast Asia,” he added. According to the statement, gig and workspace as a service (WaaS) represent the future of work, addressing the high variability in demand patterns often experienced by enterprises. Companies increasingly seek to bridge skill gaps through “just in time” or adequate supply while enabling workers to maximize their earning potential by connecting them with suitable gigs. However, enterprises continue to face challenges in finding the right flex- talent, managing rostering and addressing skilling issues, which ultimately impact the productivity and efficiency of their operations. BetterPlace said the firm continually develops cutting-edge, tech-driven solutions that enable enterprises to be future-ready. The company’s artificial intelligence (AI)-powered enterprise platform provides robust matchmaking capabilities for companies seeking skilled candidates for gig and full-time positions. In addition to hiring and applicant tracking software (ATS) solutions, the company also offers remote onboarding, rostering, and digital upskilling capabilities for enterprises. Workers, in turn, gain access to higher earning opportunities, enhancing their earnings per hour. The acquisition of TROOPERS follows BetterPlace’s recent expansion in the region. In February 2023, BetterPlace acquired Indonesia’s leading blue collar workforce fulfillment platform, MyRobin, marking the company’s first foray into the Southeast Asian region. Founded in 2015, BetterPlace is Asia’s largest SaaS and frontline workforce management platform. The company has over 30 million workers on the platform and over 1,100 companies as clients. Being a full- stack solution, BetterPlace caters to the entire value chain of frontline workforce management from verification, discovery, hiring, and onboarding to upskilling, productivity management and benefits transfer. BetterPlace has also launched their business to consumer (B2C) platform Rocket which partners with enterprises to upskill frontline workers free of cost so that more frontline workers are job ready and enterprises have access to pre-trained frontline workforce. Malaysia’s Krenovator introduces AI Coding Assistant to accelerate coding learning for tech talents |
https://technode.global/2023/04/17/malaysia-plans-to-set-up-second-5g-network-from-next-year-report/ | Malaysia plans to set up second 5G network from next year — report | 34 | Malaysia plans to introduce a second 5G network from next year, Malaysia’s 5G roll-out by state agency Digital Nasional Bhd (DNB) has seen repeated delays since its launch in December 2021 because of industry concerns over pricing and transparency, as well as worries that a single government-run network would result in a nationalized monopoly, according to Anwar has ordered reviews of billions of dollars in government projects as he looks to strengthen governance and minimize wasteful spending since taking office in November last year. He has also vowed to boost competition to ensure better services for the public. Anwar’s government is now planning to introduce a second 5G network from January 2024 to challenge DNB’s lock on the market, four sources familiar with discussions told “The matter is still under review,” Ahmad Firdaus Mohd, press secretary to the communications minister, said in a text message, without elaborating. A recommendation by major carriers for a second 5G provider was rejected by the previous government in March last year. DNB deployed its network in late 2021 with the participation of two telecommunications firms on a trial basis. The roll-out came under scrutiny again after Anwar took office in November and announced a review of the 5G plan, saying it had not been formulated transparently by the previous administration. DNB denied that claim. The plan for a second network will be contingent on DNB and mobile operators ensuring that 5G network coverage reaches the government’s target of 80 percent of the country’s populated areas by the end of this year, the sources said. A proposal on the plan is expected to be submitted to the Cabinet on Wednesday, two of the sources reportedly said. Communications Minister Fahmi Fadzil said last Friday that he hopes to raise 5G matters in Cabinet this week, media reported. Fahmi also said last week that 5G network coverage had reached 55 percent in populated areas. DNB has said a single network would reduce costs, improve efficiency and accelerate the building of infrastructure. Three carriers — CelcomDigi, Telekom and YTL — agreed last year to take up a collective 65 percent stake in the agency, with the government holding the remaining 35 percent. Two major mobile operators — Maxis and U Mobile — declined to take up equity in DNB, Malaysia’s MRANTI stepping up pace to accelerate 5G enterprise innovation |
https://technode.global/2023/04/14/funding-societies-partners-cgc-to-launch-sme-portfolio-guarantee-to-improve-malaysian-sme-digital-financing-access/ | Funding Societies partners CGC to launch SME Portfolio Guarantee to improve Malaysian SMEs digital financing access | 34 | Funding SocietiesBoth parties said in a statement on Friday that through the partnership, Funding Societies and CGC are extending the first tranche of financing up to MYR10 million ($2.27 million) under the SME Portfolio Guarantee Scheme via Funding Societies’ leading digital financing solutions to benefit the underserved and unserved yet creditworthy micro, small and medium enterprises (MSMEs). The partnership also marks the first strategic collaboration between CGC and an SME digital financing platform. Under this scheme, eligible SMEs can apply for financing between MYR50,000 ($11358) and MYR500,000 ($113,585). SMEs that qualify for the SME PG will have access to longer-term financing and enjoy preferential interest rates, lowest among Funding Societies’ existing portfolio of financing from similar segments, easing their monthly cash flows as they grow their businesses, particularly in this post-pandemic period. “We are pleased to strengthen our partnership with CGC via the SME Portfolio Guarantee agreement,“With the PG in place, we would widen access to financing facilities for underserved and unserved SMEs in our key market, Malaysia,” said Kelvin Teo, Co-founder and Group Chief Executive Officer of Funding Societies | Modalku. According to him, these SMEs may have a viable business model but lack the collateral to obtain financing via traditional financing channels. “Our financing would support SMEs to either expand or sustain their operations, particularly as SMEs bounce back post-Covid in resilience, “As for our investors, the SME PG also lowers the risks of non-repayment by SMEs,” he added. Funding Societies | Modalku is the largest unified SME digital finance platform in Southeast Asia. It is registered with the Securities Commission Malaysia (SC), as well as licensed in Singapore, Indonesia, and Thailand, and operates in Vietnam. It is backed by SoftBank Vision Fund 2, SoftBank Ventures Asia, Sequoia Capital India, Alpha JWC Ventures, SMBC Bank, Samsung Ventures, BRI Ventures, Endeavor, SGInnovate, Qualgro, and Golden Gate Ventures amongst others. The FinTech company provides business financing to SMEs, which are funded by individual and institutional investors. In eight years, it has helped finance over 5 million business deals close to MYR13.39 billion ($3.04 billion) in funding. CGC was established on 5 July 1972. It is 78.65 percent owned by Malaysian Central Bank and 21.35 percent by the commercial banks in Malaysia. CGC aims to assist micro, small, and medium-sized enterprises (MSMEs) with inadequate or without collateralAs of December 2022, CGC has availed over 522,075 guarantees and financing to MSMEs valued at over MYR90 billion ($20.45 billion) since its establishment. On February 9, 2018, CGC introduced imSME, Malaysia’s first SME online financing/loan referral platform. The imSME serves as an alternative channel for MSMEs to source for financing products, saving them both the time and the hassle of going through time-consuming processes. From the time of its inception to the end of December 2022, the imSME portal had received more than 2.41 million visits with more than 66,608 registered MSMEs under the portal. Funding Societies partners Food Market Hub, Supply Bunny to launch financing program for F&B in Malaysia |
https://technode.global/2023/04/14/analyst-sees-malaysia-emerging-as-data-center-in-asia/ | Analyst sees Malaysia emerging as data center in Asia | 34 | Analyst said Thursday it sees Malaysia as an emerging data center hub in Asia, with supportive pro-business policies to attract and retain data center investors. RHB Investment Bank Bhd said in a report that the unity government under Prime Minister Anwar Ibrahim is committed to further accelerating digital adoption in the country, which augurs well for the domestic data center industry. According to the research house, the positive outlook of the data center sector is also supported by the New Investment Policy unveiled by the Ministry of International Trade and Industry (MITI) in Oct 2022, where the government is looking to boost economic complexity to spur high-value job opportunities. It said the country’s large pool of knowledge and skilled workers portends a significant competitive advantage in catalysing greater foreign direct investments, which is crucial for the data center space. Aside from Amazon Web Services (AWS) and Microsoft, which have committed to setting up cloud regions in the country, it said the likes of global data center names such as GDS, Equinix, and Yondr Group are also pouring in significant capital to construct their maiden facilities in the country. According to RHB, Malaysia is seeing accelerated data center capacity plant-up, with hyperscalers making landfall. It said Malaysia is seeing a raft of new/emerging data center investments with over 800MW capacity projected to come on stream in phases over the next five years, with lower land and energy costs as the key draws. It said Singapore’s decision in early 2022 to calibrate new data center builds has been a blessing in disguise, with the likes of Equinix, AirTrunk, Yondr Group, and GDS Holdings locating their maiden facilities in Malaysia’s southern state of Johor. More importantly, it views the setting up of cloud regions by Microsoft and AWS as a major coup with significant upsides for the domestic data center industry and the economy. However, RHB also noted the key risks for the data center industry include energy costs and availability, internet bandwidth, the ease of doing business, political stability, and natural disasters. “Increasing competition in the region is a growing risk, as it could reduce investments in the individual countries. Therefore, government incentives and regulations form a key part of investment decisions,” it said. For data center players, it said sustainability will be a key issue in the long term, with the growing emphasis on energy efficiency. New innovations present in newer data centers may reduce the demand for older, less efficient data centers, it said. Overall, RHB opined that there is a rise of data centers in ASEAN. It said the demand for hyperscale data center facilities in the region is being fuelled by strong investments and upgrades to new technologies and the transition to 5G networks. It said ASEAN has become a major hotspot for data centers, thanks to accelerated digitalisation, accommodative policies, and the lower cost of land and energy, with content and over-the-top (OTT) providers focusing on the region’s population demographics and clamorous appetite for social media. Consequently, it said hyperscalers are compelled to move closer to end-users (edge computing) to reduce latency with the setting up of new cloud regions. With cloud and enterprise applications generating vast amounts of data with different formats and protocols, it opined that data centers will enjoy secular growth. It noted data centers allow artificial intelligence (AI) to process massive datasets for training and inference, given their vast computing resources and storage. As more organizations adopt AI into their operations, it said there is a corresponding rise in data generation. Cited Frost and Sullivan, RHB said Malaysia, Singapore, and Indonesia are expected to account for a combined about 74 percent of the $5.7 billion ASEAN data center market by 2025. Cited Arizton Advisory and Intelligence’s Mar 2023 report, it said the Indonesian data center market is expected to grow at a 6 percent compound annual growth rate (CAGR) between 2022-2028 to $3.1 billion. The growth will be fuelled by rapid capacity expansion by hyperscalers, data localisation regulations, and as internet penetration closes the gap with its ASEAN peers, the research house said. It also said Indonesia is already home to multiple cloud regions by Google, Alibaba, Amazon, Huawei, and Microsoft with Batam Island emerging as the new data center economic zone. Meanwhile, it said Singapore’s calibrated data center growth is squeezing inventory resulting in overflow to neighbouring hubs. While Singapore continues to be the epicentre of data center growth in South-East Asia, it said the more stringent conditions laid out for new builds have compelled investors to consider alternative sites/hubs in the region. It also said the regionalization of the data center business is a key focus area for Singtel, with about 70MW capacity to be added over the next three to five years from its Indonesia and Thailand joint venteres. It said the expansion will see its data center footprint expand to more than 170MW regionally from about 70MW in Singapore currently. Malaysia’s MN Holdings partners China’s DC-Science to set up high performance data center in Malaysia |
https://technode.global/2023/04/13/lotus-cars-aims-to-re-establish-brand-in-malaysia-report/ | Lotus Cars aims to re-establish brand in Malaysia – report | 35 | Lotus Cars Malaysia, the sole local franchise holder for UK-headquartered General manager Tengku Ezan Ley Tengku Mahaleel said Lotus’ new journey in Malaysia will be complemented by the Lotus Emira and the all-new fully electric Lotus Eletre which was launched on Thursday (Apr 13) in the Malaysian market and for the first time in Asia. “Market share is not a concern at the moment as we want to reestablish the Lotus car brand again in Malaysia,” he told reporters after the launch of the Lotus Eletre, national news agency Malaysia’s national car maker Proton was the owner of Lotus Cars from 1996 to 2017. In June 2017, China-based Zhejiang Geely Holding Group became the major shareholder of Lotus Cars with 51 percent, while the remaining 49 percent is owned by Malaysian tycoon Syed Mokhtar Albukhary through Etika Automotive Sdn Bhd, according to the report. Tengku Ezan Ley said a total 140 bookings has been collected as of today for Lotus Eletre. In total, 200 units of the hyper sports utility vehicle (SUV) are available for this year. They come in three variants — Eletre, Eletre S and Eletre R. Tengku Ezan Ley said Lotus Cars Malaysia is strengthening its commitment for the domestic market with new model introduction, sales and after-sales initiatives. He said that the company is also planning to introduce new concept outlets next year and showrooms mainly in the Klang Valley. To complement the launch of Eletre, Lotus Cars Malaysia and Gentari Sdn Bhd’s wholly-owned subsidiary Gentari Green Mobility Sdn Bhd have signed a memorandum of understanding (MoU) to explore collaborations in EV charging infrastructure at its facilities, Lotus EV owners’ premises as well as public areas. Gentari chief green mobility officer Shah Yang Razalli said the MoU is for a period of two years. The parties are also seeking opportunities to collaborate in the exploration of and including the introduction of Zero Emission Vehicle Fleet solutions in Malaysia, renewable energy deployment at Lotus Cars Malaysia’s facilities and a digital platform. Since its introduction in June 2022, Gentari through its affiliated entities has deployed more than 150 charging points across 35 locations in Malaysia and over 160 charging points in India. Gentari also said it aims to capture 10 percent market share (circa 25,000 charging points based on current estimates) across key markets in Asia Pacific by 2030. Gentari aims to install 9,000 public charging points by 2026, with an anchored presence in Malaysia and India. Malaysia’s DRB-Hicom partners China’s Geely to develop Automotive High-Tech Valley in Malaysia |
https://technode.global/2023/04/11/the-k-startup-grand-challenge-2023-opens-its-doors-to-malaysia/ | The K-Startup Grand Challenge 2023 opens its doors to Malaysia | 35 | The Returning for its 8th year, the program aims at bringing international startups, with a focus on Southeast Asia (SEA) and Australia and New Zealand (ANZ) startups, KSGC said in a statement on Tuesday. Applications open on April 10 and close on May 18 for startups keen on the opportunity to work and build a strong foundation in South Korea. KSGC was launched by the National IT Industry Promotion Agency (NIPA) in 2016 and has been integral in connecting promising startups from around the world to South Korea. The Korean government has committed to establishing the country as a startup powerhouse over the years. Cited a report, KSGC said that early-stage startup funding between 2019 to 2021 in South Korea was at $2.3 billion compared to $687 million for the global average, and successful startups in South Korea took around eight years to exit in comparison to 9.4 years for the global average in 2023. The KSGC program has proven to be an international accelerator in high demand, with 2,653 global startups applied from 122 countries for KSGC 2022. To date, the program has resulted in 167 startups setting up bases in Korea. “The K-Startup Grand Challenge offers startups in Singapore and Malaysia a unique opportunity to access the market in Korea, funding, mentorship, and network building, “We look forward to supporting SEA Start-Ups and Scale-Ups looking to accelerate their growth regionally and build a business for the long-term,” said Nim Sivakumaran, Head of Strategic Partnerships at Arcc Spaces. According to the statement, meetup sessions are planned for Singapore, Malaysia, and Indonesia in the next few weeks to answer any questions startups that are interested in the program have. “Peatix is delighted to come on board as a marketing partner for the upcoming KSGC 2023,“Being an event discovery platform of more than ten years, we look forward to promoting the valuable initiatives organized by accelerator programs like KSGC to our growing network of startup communities,” said Peatix Marketing Lead Michelle Leong. KSGC 2023 will offer 60 startups from around the world that are less than seven years old a 3.5-month residency program from July to November. Applications open on April 10 and close on May 18. Each startup’s representative must be of foreign nationality, and express a clear interest in expanding into the Korean and East Asian markets. There is a cash prize for the top five startups, with $120,000 for the winner. The program will be conducted in Pangyo Techno Valley . Participants will have their living expenses covered, and be provided with free office and project spaces to work from. Startups will have access to mentors, consultants, and business development teams to help fulfil their potential and aid in their localization efforts. With more than ten startup unicorns based in South Korea, KSGC opined that focusing on startup diversity by bringing innovation and ideas from SEA could be the key to the future of the tech scene in Korea. “The tech landscape changes rapidly, and we are proud to see the volume of strong and diverse startups who have participated in the program over the years, “For 2023, we are excited to work closely with our startups and help them reach the next level for KSGC 2023,” said Shin Sung Woo, director of Korea IT Cooperation Center (KICC) Singapore. MYStartup accelerator Program Cohort 2 opens for registration, offering funding to fuel tech startups in Malaysia |
https://technode.global/2023/04/11/citaglobal-partners-genetec-technology-to-launch-battery-energy-storage-system-for-renewable-energy-in-malaysia/ | Citaglobal partners Genetec Technology to launch battery energy storage system for renewable energy in Malaysia | 35 | Citaglobal Genetec BESS Sdn Bhd (Citaglobal Genetec BESS), a special vehicle formed by The launch showcased the fully operational 1MW BESS prototype (MYBESS) that was successfully developed and piloted in December 2022, and currently supports the Genetec EPIC plant’s energy needs, the duo said in a statement on Tuesday. Citaglobal and Genetec Technology exclusive collaboration agreement was formalized on October 6, 2022 to develop battery energy storage management systems to store and manage excess power during the generation of renewable energy. The development of MYBESS is meant to solves two of the biggest ecosystem challenges, which are large scale and capacity energy storage as well as portability. This could also be a key solution to rural electrification and connectivity. “Citaglobal Genetec BESS is excited about the prospects ahead of us, “The combined strengths, capabilities, deep and long-standing industry experience of both Citaglobal and Genetec in the infrastructure construction and engineering, as well as intelligent turnkey manufacturing automation especially for the electric vehicle and renewable energy industries, has enabled us to go-to-market with a very compelling end-to-end BESS solution,” said Mohamad Norza bin Zakaria, Chairman of Citaglobal Genetec BESS. “This solution caters to different industry verticals – from transport, manufacturing, energy supply and distribution, telecommunications – to mention some, especially in grid integration to manage intermittent renewable energy resources which remains a challenge today,“In addition to supporting national and international infrastructure energy needs, our readiness positions us competitively to enable faster-time-to-market deployment,” he added. Genetec Founder and Managing Director Chin Kem Weng said the firm is excited to have achieved this milestone with Citaglobal. “Following the successful pilot, we have been scaling our readiness to support large orders and rising demand as countries and companies across different industries fast-track their renewable energy plans,“From the onset, we see opportunities with our neighbouring ASEAN countries, and we also expect early market adopters to continue to scale and improve infrastructure, paving the way for greater opportunities to supply this locally developed, end-to-end BESS solution,” he added. According to the statement, the Citaglobal Genetec BESS end-to-end solution comprises the BESS structure and management and power conversion subsystem, to the communications interface, that is highly customized to support different renewable energy sources such as solar, wind and hydro. “In 2022, global renewable energy (RE) capacity rose by 10 percent, while investment in the green energy transition amounted to a record $1.1 trillion worldwide, “All these reflect the world’s firm shift towards a future increasingly powered by renewable energy,” Malaysia’s International Trade and Industry Minister Tengku Zafrul Abdul Aziz said. According to him, for MITI, one priority under the New Investment Policy involves strengthening Malaysia’s environmental, social and governance (ESG) adoption, in support of Malaysia’s net zero target by 2050, and a key component of this is to rethink how we generate, distribute, store, supply and consume energy. “To this end, the development of Malaysia’s homegrown MYBESS, by Citaglobal Genetec BESS, is not only a step in the right direction in support of Malaysia’s future (renewable) energy security, but also an important opportunity to begin positioning Malaysia in high-technology industries and higher in the global value chain, “The time to act is now, and through the New Industrial Master Plan 2030 which will be launched later in the year, MITI is taking bold steps to enhance our industrial ecosystem, underscored by key considerations such as ESG compliance and future industrial energy sufficiency,” he added. Listed in 2008, Citaglobal is a diversified group with multiple revenue streams. It is currently involved in civil engineering and construction (CEC), oil and gas (OG), power generation, property development and manufacturing. Its CEC segment is primarily involved in infrastructure construction contracts. The OG segment is principally engaged in onshore oil and gas downstream activities, while the manufacturing segment consists of the manufacturing of cold-drawn bright steel products. Its power generation division caters to the niche markets of the O&G industry, sets up and supplies mobile and stationary power generation solutions to utility companies, and supplies SEDA-approved locally assembled biogas generators in the green energy segment. Genetec Technology is a technology firm in providing customised full turnkey smart factory automation manufacturing lines. It is a public company listed on the ACE Market of Bursa Malaysia Securities Berhad since 2005. Its principal business focus is in the provision of high-quality, responsive and cost-effective designs, as well as the manufacturing of automated industrial systems, equipment and value-added services for our global customers in the electric vehicle, automotive, hard disk drive, consumer goods and healthcare sectors. JLand Group partners Gentari to explore renewable energy solutions and green mobility ecosystem in Malaysia |
https://technode.global/2023/04/11/jland-group-partners-gentari-to-explore-renewable-energy-solutions-and-accelerate-green-mobility-ecosystem-growth-in-malaysia/ | JLand Group partners Gentari to explore renewable energy solutions and green mobility ecosystem in Malaysia | 35 | Malaysian property developer JLG said in a statement on Tuesday that this strategic partnership aims to develop an eco-friendly ecosystem across JLG’s residential, commercial, and industrial projects. Pursuant to the signing of this MoU, JLG and Gentari will undertake feasibility studies on the integration of Gentari’s renewable energy solutions at selected strategic assets and industrial parks under JLG, while the implementation of the green mobility ecosystem in JLG’s selected projects will commence in the third quarter of 2023. “Our partnership with Gentari signifies a milestone in our progress towards decarbonisation initiatives and enhanced capabilities in the renewable energy sector,” “Through our joint effort with Gentari, we are further equipped to act on our continued commitment for sustainable growth,” said Sr Akmal, Director, Real Estate and Infrastructure Division of Johor Corp (JCorp) and Deputy Chairman of JLG. According to him, the wide-scale deployment of the green mobility and renewable energy ecosystems across the firm’s main developments namely Menara JLand, KOMTAR JBCC, B5 Johor Street Market, Ibrahim International Business District (IIBD) and Bandar Dato’ Onn (BDO), showcases the depth and extent of the partnership’s value creation potential, considering the number of end-users present throughout its operating entities. As part of the collaboration, JLG and Gentari will also explore the potential installations of an electric vehicle (EV) charging hub at Ibrahim Technopolis (IBTEC) and renewable energy solutions for JLG’s industrial parks. “With the deployment of these renewable energy solutions and green mobility infrastructure at JLG’s assets and industrial parks, we are advancing clean energy transition through a multi-industry approach, “This is especially crucial, with JLG’s wide-spread presence and operations in the State of Johor, as we look forward to jointly enhance the energy efficiency of industrial parks, and that of its tenants,” Sr Akmal added. Sushil Purohit, Gentari’s Chief Executive Officer, said the journey towards achieving Malaysia’s net zero goals will require the whole of society’s efforts. “As a clean energy company focused on delivering the solutions required to put cleaner energy into action, Gentari seeks to collaborate with leading entities with a broad and diversified portfolio such as JLand Group, to enable efficient implementation of integrated solutions,“With JLand Group, we are able to simultaneously explore initiatives under our core pillars of Renewable Energy, Hydrogen and Green Mobility, cutting across the electron value chain to create greater value in the path towards net zero,” he added. As part of the collaboration, Gentari’s vehicle as a service (VaaS) offering will be implemented as a green mobility subscription service at JLG’s residential, commercial and industrial developments, to initiate the adoption of EVs. Through the introduction of EV fleet subscription by Gentari, JLG seeks to accelerate low-cost investment transition into EV. JLG is a wholly owned subsidiary of JJCorp, focusing on spearheading the group’s real estate and infrastructure businesses. JLG’s portfolio spans across diversified real estate activities and investments, including integrated parks, industrial, logistics and data centres. JLG’s core businesses encompass four strategic areas, namely real estate development, asset lifecycle management, real estate investment and infrastructure and utilities, allowing for strategic value optimization for its businesses and assets across diverse industry presence. Gentari is a clean energy company focused on delivering the net zero solutions. The firm offers lower carbon solutions through three initial core pillars – renewable energy, hydrogen and green mobility, forming a portfolio of solutions cutting across the electron value chain to help customers achieve net zero emissions. In the long term, Gentari aims to be a full suite net zero solutions provider, creating greater value, connecting businesses, and making the journey to net zero possible. Malaysia’s Sunview partners Huawei for renewable energy |
https://technode.global/2023/04/11/axiatas-boost-to-leverage-ecosystem-as-it-prepares-to-launch-its-digital-bank-heres-how-and-why-qa/ | Axiata’s Boost to leverage ecosystem as it prepares to launch its digital bank. Here’s how and why. [Q&A] | 35 | Malaysia central bank announced in April last year the five successful applicants for the digital bank licenses as approved by the Minister of Finance Malaysia. The country will have three digital banks licensed under the Financial Services Act 2013 (FSA) and two Islamic digital banks licensed under Islamic Financial Services Act 2014 (IFSA), according to The consortium of After almost one year, Boost is the regional full spectrum fintech arm of Axiata that financially empowers millions of customers – both users and merchants, across seven countries in Southeast Asia through our ever-expanding fintech ecosystem spanning its all-in-one fintech app, merchant solutions, AI-based lending business, and cross-border payment platform, information from its website showed. Boost is also backed by Singapore-based insurer Great Eastern, which acquired a 21.875 percent stake in the entity for $70 million in June 2020. Axiata has controlling interests in six mobile operators under the brand names of ‘Celcom’ in Malaysia, ‘XL’ in Indonesia, ‘Dialog’ in Sri Lanka, ‘Robi’ in Bangladesh, ‘Smart’ in Cambodia and ‘Ncell’ in Nepal, as well as minority interests in ‘Idea’ in India and ‘M1’ in Singapore. As equity partners in the consortium, Axiata’s subsidiary, Boost, will own a majority stake of 60 percent, while RHB Bank will own the remaining 40 percent in the digital bank. RHB Banking Group, on the other hand, is a multinational regional financial services provider with a presence in nine countries in the ASEAN region, with more than 14,000 employees. Its core businesses are structured into five business pillars, namely Group Community Banking, Group Wholesale Banking, Group Shariah Business, Group International Business, and Group Insurance. Other successful applicants of the digital banking licenses include a consortium led by GXS Bank Pte. Ltd (Grab-Singtel consortium) and Kuok Brothers Sdn. Bhd and a consortium led by Sea Ltd and YTL Digital Capital Sdn Bhd; a consortium of AEON Financial Service Co. , Ltd. , AEON Credit Service (M) Bhd and MoneyLion Inc. ; and a According toIn the interview, Sheyantha also shared his views on what opportunities Boost sees in building a digital bank, the challenges it faces and how to address them. Below are the edited excerpts: Currently, the digital bank’s progress is on track within the timeframe established by the central bank. We will make the relevant announcements when the time comes. The foundation of who we are at Boost, as a regional full spectrum fintech arm of Axiata, is our purpose and mission to serve the underserved by financially empowering both users and merchants to be unstoppable with greater access to financial services through the power of technology, data, and artificial intelligence (AI). In the Malaysian market, industry findings estimated that 55 percent of the adult population are unbanked or underbanked, while just 39 percent of Malaysians can get a loan from their bank. Additionally, studies also found that 87 percent of local micro, small, and medium-sized enterprises (MSMEs) faced issues with banks on financing and loans, with some of the financing difficulties faced relating to the requests for higher collateral and additional guarantor, as well as delays in loan approval and disbursement. With the recently granted digital bank license by the Malaysian central bank, Bank Negara Malaysia (BNM), the Boost-RHB Consortium can better drive innovation and serve the financially underserved, primarily MSMEs, self-employed individuals within the gig economy, retirees, and much more. The upcoming digital bank is expected to complement traditional financial institutions by filling in the gap and catering to the underbanked and unbanked segments, rather than disrupting the banking sector, in the medium term. As digital banks are operating on a mandate to drive greater financial inclusion, it will indirectly boost economic growth and increase the confidence of industry players. Industry research finds that widespread adoption and use of digital finance could potentially increase the gross domestic product (GDP) of emerging economies by 6 percent, or a total of $3.7 trillion, by 2025. However, one of the primary issues or challenges raised when it comes to serving the financially underserved segments, which are often considered thin-file and non-tech-savvy, is the question of sustainability. Most successful digital banks will leverage on their respective ecosystems, and in the case of Boost, it is no different. This ensures that those that successfully execute this model will have a relatively low customer acquisition cost. As for rising rates, it will not have material impact on the digital banks in their nascent stages, as most banks would launch with simplified products with shorter tenors and would not be susceptible to very large asset-liability mismatches on their balance sheet. They should be able to ride the interest rate cycle without too much impact on their net interest margins (NIMs). However, rising interest rates and economic slowdowns may impact vulnerable sectors, such as MSMEs and the B40 community, which are the target groups that digital banks are expected to cater to, hence a heightened focus on asset quality will have to be maintained. For Boost, over the past few years, we have been laying the foundation and building the essential blocks for a digital bank, such as through Boost’s AI-based lending business that is already operating at scale sustainably. As of 2022, we have accumulated an excellent track record of disbursing over MYR2.5 billion worth of loans in Malaysia and Indonesia since inception, while also recording an increase of over 70 percent year-on-year in loans disbursed across the two countries in 2022. Not only that, Boost also recorded about 90 percent repeat rate on short-term loans as of 2022. Despite around 40 percent of our customers had never received credit from other financial service providers before, Boost maintained a healthy single-digit non-performing-loan (NPL) rate. Hence, for Boost, this venture is not greenfield, but more of a brownfield venture. This is a testament to our simple and conveniently available digital-first solutions, which incorporates a comprehensive e-Know Your Customer (eKYC) via a 5-minute digital application journey supported by AI and machine learning tools, with fund disbursement within 48 hours upon approval. It is also possible for Boost as, through our holistic fintech ecosystem and data driven approach, we can embed our services into the existing transaction journey and purchasing cycle of businesses. This digitally solves their pain points without needing to incite any behavioural change – in other words, we go to our customers. For example, when small retail stores make orders from distributors to buy weekly stock for their inventory management system, via Boost’s API link and technology, we can pre-score merchants based on their purchasing data. Then, we can offer lending solutions through that API link for them to order stock using credit as an alternative to cash within that purchasing module. We are there where and when our customers need us. It is also worth noting that, in the United States, studies shown that embedded finance already accounted for $2.6 trillion (MYR11.1 trillion) in 2021 and, by 2026, it will exceed $7 trillion (MYR30 trillion). Asia is expected to follow suit as the market is primed for an embedded finance boom. This is due to its value proposition of improving customer experiences and creating greater financial access, along with providing cost-reduction and risk-reduction opportunities throughout the value chain. The future development of embedded financial technology is widely regarded to also have the potential of completely changing the financial service business model across the globe and becoming a full-blown gold rush. Within the Southeast Asian market, Boost already has a head start in this space. Boost will continuously expand and further embed our AI-based lending business across our holistic fintech ecosystem, spanning our all-in-one fintech app, merchant solutions platform, and cross-border payment platform. With industry case studies indicating that significant business experience and substantial ecosystems are common factors of success for digital banks worldwide, Boost has distinct and strategic advantage as an incumbent full spectrum fintech player that meets all the criteria. As we further embark on this journey, with Boost’s proven track record and holistic FinTech ecosystem, as well as with the core banking expertise from RHB Bank, we aim to build on our incumbent advantage and hit the ground running soon. Does Axiata-RHB consortium have what it takes to win a digital bank license in Malaysia? [Q&A] |
https://technode.global/2023/04/10/malaysias-doc2us-launches-new-home-based-healthcare-services-doc2home/ | Malaysia’s DOC2US launches new home-based healthcare services DOC2HOME | 35 | DOC2USDOC2US said in a statement that DOC2HOME is a hybrid digital health app that attends to patients’ healthcare needs directly from their homes without the hassle of travelling. Apart from providing medical services right to the doorstep, its flagship Health Concierge service, are trained to provide triage under the supervision of a medical practitioner, where patients and caregivers can access health advisory from healthcare providers at their fingertips. “DOC2HOME is a modern-day adaptation of a historical practice in medicine – house calls, whereby doctors and healthcare providers go to the homes of their patients rather the other way around,” said Dr Raymond Choy, Chief Executive Officer of DOC2US. According to him, digitalization is also a big part of this transformation. “Other than home visits, DOC2HOME takes pride in its array of virtual health services powered by DOC2US, for the modern homeowner,“We bring together a diverse team of quality healthcare professionals from doctors, pharmacists, dietitians and nutritionists to nurses, medical assistants, physiotherapists, wellness trainers and ambulance services, to uphold the quality of healthcare and offer affordable healthcare services at the residents’ comfort,” he added. According to the statement, the healthcare services are designed to accommodate today’s fast-paced world, where the modern population is often on the move, and health is compromised for convenience as it is, at times, troublesome to travel to healthcare facilities for consultation, refilling medication and supplements or other healthcare supplies. This is more apparent for the elderly, expecting mothers, disabled and bed ridden as they often must rely on their caregivers for support. In the case of patients with chronic illness, straying from medical care and medication could put them at an even higher risk of morbidity from their existing condition. Through subscriptions, DOC2HOME’s resourceful Health Concierge supports the communities in accessing quality health advisory and healthcare providers. Building on the DOC2US telehealth ecosystem, DOC2HOME’s home-based services complete the circle of hybrid care, by providing home care where residents can consult, receive care, and recover through integrated online and offline mediums without the need to even exit their premises. “Access to reliable healthcare is also a form of security and safety for many people, “We aim to collaborate with lifestyle-property developers who want to provide a home, not just a house, to its prospects,” said Choy. According to him, this means incorporating comprehensive and personalized home-based healthcare services directly into the daily lives of the community. He said the firm is also thrilled to spearhead this with Malaysian property firm S P Setia, in line with what they have envisioned for their Eco-townships. “Our shared value to centralise good health will safeguard the wellbeing of the Eco Series communities and provide residents with a peace of mind,” he added. In conjunction with S P Setia’s STAY Campaign, Goldea 2, the latest phase of Precinct Arundina at Setia Eco Park will be the first to offer DOC2HOME’s healthcare services to residents of Goldea 2. DOC2US is the electronic prescription (e-prescription) telemedicine provider in Malaysia that has been awarded the “First Digital Signature Electronic Prescription System” by Malaysian Book of Records. Leveraging on cloud computing technology, the firm provides scalable and seamless remote healthcare services to consumers, patients, corporate clients, healthcare providers, and healthcare fraternities like clinics, and pharmacies. With more than 1 million e-prescriptions generated to date, DOC2US is co-founded by medical doctor Dr Raymond Choy, start-up entrepreneur Jack Lee and app development company Agmo Studio Sdn Bhd. Together, they operate DOC2US under a joint venture named Heydoc International Sdn Bhd. Malaysian healthtech startup Qmed Asia raises $1.16M in equity crowdfunding for regional expansion |
https://technode.global/2023/04/10/malaysias-pnb-partners-gentari-to-deploy-59-ev-charges/ | Malaysia’s PNB partners Gentari to deploy 59 EV charges | 35 | Malaysia’s largest fund manager The chargers consist of two units of 11kW and 22kW alternating current (AC) chargers, and one unit of 60kW direct current (DC) fast charger, equipped with two charging points, both parties said in a statement. According to the statement, the chargers are the first for PNB Group and the first in Kelantan that operates 24 hours, for the convenience of EV drivers. PNB has partnered with clean energy solutions provider Gentari via its wholly owned subsidiary, Gentari Green Mobility Sdn Bhd, to install a total of 59 units of EV Chargers at 18 PNB Group properties. The installation is expected to be completed by the end of 2023. “The deployment of EV chargers will cover the offices, hotels and resorts, golf club and shopping malls under the PNB Group,“Our next deployment will be in Villea Rompin Resort and Golf in Kuala Rompin, Pahang, Plaza Pelangi, Pelangi Leisure Mall and Perling Mall in Johor Bahru, Johor, Menara PNB in Kuala Lumpur and 12 other properties,” said Rick Ramli, PNB Chief Investment Officer, Private and Strategic Investments. According to him, this initiative is aligned with PNB’s Sustainability Framework Commitment #2 to drive decarbonization effort in its portfolio and will support the EV ecosystem under Malaysian Government’s Low Carbon Mobility Blueprint 2021 – 2030; a commitment to set up 10,000 EV charging stations nationwide by 2025. Gentari’s Chief Operating Officer for Green Mobility Haikal Zubir said:” We are pleased to have a like-minded partner in PNB with us on the journey towards sustainable mobility. ”“This partnership will see us providing necessary infrastructure at their properties to support the needs of electric vehicle drivers, starting with Perdana Kota Bharu, Kelantan,“This also signifies the expansion of our charging infrastructure footprint to the East Coast region that will boost range confidence of interstate travelers,” he added. Since its inception in 1978, PNB has been a trusted custodian of Malaysian wealth and assets, and holds the responsibility to lead and facilitate change, to ensure an orderly and just transition towards a sustainable economy. PNB launched the PNB Sustainability Framework on April 21, 2022, which outlines 10 commitments for PNB’s own operations as well as for its investments under the three pillars of environment, social and governance (ESG). The framework helps PNB to remain focused in response to a changing global investment landscape, where PNB aims to be a net zero enterprise by 2025, with a net zero portfolio by 2050, working together with its investee companies in support of Malaysia’s net zero carbon emission target. The deployment of EV Chargers in PNB Group’s properties is one of the initiatives under the ‘Environment’ pillar of the Sustainability Framework, in supporting the transition towards a green economy. Malaysia’s Blueshark launches initiative to accelerate electric motorcycles adoption and development |
https://technode.global/2023/04/10/malaysias-mranti-stepping-up-pace-to-accelerate-5g-enterprise-innovation/ | Malaysia’s MRANTI stepping up pace to accelerate 5G enterprise innovation | 35 | In driving enterprise 5G adoption forward, theCited a recent report by GSMA Intelligence, MRANTI said in a statement that Malaysia currently has a 1 percent adoption rate of 5G despite achieving close to 50 percent 5G population coverage. It said that industry pundits have alluded that a key indicator for the success of 5G must include enterprise innovation and use cases that provide compelling applications to intensify industry adoption. With Malaysia’s ambition to raise its competitiveness and be a regional leader in 5G, it said new 5G enabled ports, smart hospitals, automated vehicles, smart manufacturing facilities and more must be designed, especially as neighboring countries have already deployed such industry-focussed solutions to market. “As many enterprises fast-track their digitalisation plans, we want to offer the right enabling environment – beyond infrastructure and technologies, for them to realize the full value of 5G,” said Dzuleira Abu Bakar, Chief Executive Officer, MRANTI. Cited the 2022 EY Reimagining Industry Futures study, MRANTI said only 24 percent of enterprises are truly confident that their organization can successfully implement 5G. In this, many are said to be looking for transformation partners, not just technology suppliers – with up to 75 percent citing that ecosystem strategies as central to their five-year growth outlook. “With pressures to accelerate innovation whilst inking revenue for new products and services, enterprise 5G implementations must demonstrate positive financial outcomes with confidence – and cross-sector collaborations offer a good way forward,” said Dzuleira. “At MRANTI, we connect innovators, researchers and businesses with resources and capabilities to drive better return on innovation, “Beyond the hardware, partners and stakeholders – including telcos, government, corporate innovators, technical experts, academia and civil society – play an important role to incubate and catalyse innovations for a more enriching data-driven future,” she added. According to her, these multi-stakeholder roundtable discussions open up new possibilities for dynamic business models and technical collaborations that serve to advance 5G enterprise development and adoption, Dzuleira. Dzuleira also explained that MRANTI PARK would provide a 5G enterprise-purposed facility soon. “MRANTI 5G Experience Centre, to be launched by mid 2023, unlocks the potential for a wide variety of use cases to be developed, including those that help corporations meet“The Centre will host a prototyping, test, demo and lab area with speeds up to 1GBps to showcase industry applications and use cases by vertical sectors,” she added. Infrastructure service providers, telcos and enterprises looking to partner on programs, test-bed a 5G Proof-of-Concept, test a 5G solution, or learn about applied 5G are welcome to connect with MRANTI. At MRANTI Park, innovators can leverage ultra fast 5G data networks for better communication efficiency (higher data rates, lower latency), connection density (reliability,The roundtable discussions follow from the recent tripartite Memorandum of Understanding inked between MRANTI, Digital Nasional Berhad (DNB) and Ericsson to accelerate the commercialisation of 5G-enabled Science, Technology, Innovation and Economy (STIE) solutions by and for enterprises based in Malaysia. MRANTI, a convergence of Technology Park Malaysia (TPM Corp) and the Malaysian Global Innovation and Creativity Centre (MaGIC), is Malaysia’s central research commercialization agency that fast-tracks the development of technology innovations from ideas to impact. MRANTI serves as a connector, incubator and catalyst to enable early-stage ideation to mature entities to commercialise and scale. It offers innovators and industry access to integrated infrastructure, programs, services, facilities and a suite of resources. In doing so, MRANTI aims to expand Malaysia’s funnel of innovation supply, and unlock new research and development (R&D) value by ensuring effective transitions in the commercialization lifecycle. It will also link academia with industry and the public sector to streamline market-driven R&D efforts for mission-based outcomes. MRANTI is headquartered at MRANTI Park, an extensive 686 acre 4IR innovation hub in Kuala Lumpur, supporting the growth of smart manufacturing, biotech, agritech, smart city, green tech and enabling technology clusters. The agency also runs a number of knowledge sessions and workshops for enterprise innovation. As a 4IR hub, MRANTI has five focus areas including dronetech, healthtech, agritech, bioscience and advanced technologies. |
https://technode.global/2023/04/06/malaysias-soft-space-raises-31-5m-series-b1-funding-led-by-southern-capital-group/ | Malaysia’s Soft Space raises $31.5M Series B1 funding led by Southern Capital Group | 35 | Soft Space Sdn. Bhd. Southern Capital Group (SCG) Pte. Ltd, led the funding round, with participation from returning investor transcosmos Inc. , strategic investor JCB (previously announced), and venture capital fund Hibiscus Fund, jointly managed by RHL Ventures and South Korea’s KB Investment, Soft Space said in a statement. According to the statement, the funds raised will be used to fuel the company’s continued growth and expansion. With the additional capital from this funding round, the company is well positioned to continue its growth trajectory and achieve its goal of making payment acceptance accessible and affordable. These new investments demonstrate how Soft Space has won the investors’ confidence in its management, business and technical acumen and its ability to execute its strategies in today’s highly competitive fintech industry. “Building on our strong momentum, the new funds will help expand our global footprint and widen our customer base by accelerating the innovation of our full-stack payments platform while expanding into next generation technological solutions,” said Joel Tay, Chief Executive Officer of Soft Space. Founded in 2012, Soft Space simplified the complexity of financial infrastructure and creates value-added features for businesses to expand their business growth. The firm is supported by Malaysia Digital Economy Corporation (MDEC)’s Global Acceleration and Innovative Network (GAIN) program and received financial support through MIDA’s Domestic Investment Strategic Fund in 2022. “With the closing of this round, we are restructuring Soft Space’s capital base to catapult the company towards high growth and strengthen our global market position, and we are confident that Soft Space will continue to attract global investors and further its ambition of creating impactful services for our clients. ” said Chris Leong, Chief Strategy Officer of Soft Space. Soft Space has shown strong growth in recent years with revenue almost doubling in the last two years. Now, Soft Space’s full stack payment services is being used by more than 70 financial institutions and partners across 23 global markets including Japan, Europe, Oceania and Americas. “Soft Space has proven itself in the highly competitive payments sector and has led the way with a number of firsts in the industry, a credit to its market credibility and maturity of its technology solutions,” said Wong Chin Toh, Managing Director of Southern Capital. “We are pleased to be a part of this investment round and we look forward to working with the founders and our fellow investors to support Soft Space’s ambitions,” he added. Binance & Cuscapi Bhd take strategic stakes in Malaysia FinTech firm MX Global |
https://technode.global/2023/04/05/malaysia-china-explore-blockchain-technology-for-pco-to-facilitate-malaysias-exports-to-china/ | Malaysia, China explore blockchain technology for PCO to facilitate Malaysia’s exports to China | 35 | Malaysia and China are exploring blockchain technology for preferential certificate of origin (PCO) to better facilitate Malaysia’s exports to China. The Ministry of International Trade and Industry (Miti) in Malaysia said in a statement on Tuesday that the move is to support mutual recognition of digital certificates of origin under the Regional Comprehensive Economic Partnership (RCEP) framework. This system, through its proposed single window framework, aims to improve trade facilitation and reduce technical barriers by offering more efficient and secure processing of goods originating from Malaysia to China. Further, adopting an e-system between Malaysia and China could greatly benefit businesses, including streamlining the customs clearance process and reducing storage costs at China ports. The cooperation is also expected to provide opportunities for human resource capacity building and knowledge sharing, while the e-system supports the development of a green economy. According to Miti, the initiatives such as this blockchain system for PCO will further bolster MalaysiaChina trade ties, building on China’s existing track record of being Malaysia’s largest trading partner for the past 14 years, as well as the momentum created by the implementation of the RCEP between ASEAN countries and its five free trade agreement (FTA) partners, including China. Under RCEP, participating countries aim to eliminate or reduce tariffs on a wide range of goods, which can increase trade and investment flows between member countries, and support intellectual property rights protection, e-commerce, and economic cooperation. By lowering barriers to trade and investment, the RCEP aims to promote economic growth and enhance regional integration in the Asia Pacific region. Meanwhile, the Malaysia External Trade Development Corporation (Matrade) said in a statement on Wednesday that Malaysia has secured potential exports to China worth MYR2.44 billion ($550 million) during the official visit of Malaysian Prime Minister Anwar Ibrahim to China. The potential sales with nine major Chinese importers are interested to source from Malaysia include palm oil and relevant products, edible bird’s nest, food and beverages, durian and iron products. China has been Malaysia’s largest trading partner for 14 consecutive years, comprising 17.1 percent share of Malaysia’s total trade, expanding by 15.6 percent to MYR487.13 billion ($110.75 billion) compared to 2021. In 2022, China remained as Malaysia’s major export destination and source of imports. Malaysia’s exports to China surpassed MYR200 billion ($45.47 billion) mark for the first time, expanding by 9.4 percent to MYR210.62 billion ($47.88 billion) and was the highest value ever recorded. Malaysia’s imports from China increased by 20.7 percent, valued at MYR276.5 billion ($62.86 billion). Malaysia’s trade with China during the period of January to February 2023 decreased by 2.1 percent to MYR70.82 billion ($16.1 billion) compared to the corresponding period of 2022. Malaysia’s exports to China shrank by 9.1 percent to MYR29.33 billion ($6.67 billion) on lower exports of iron and steel products, petroleum products as well as palm oil and palm oil-based agriculture products. However, increased exports were seen for electrical and electronics (E&E products, metalliferous ores and metal scrap as well as liquefied natural gas (LNG). Malaysia’s imports from China for the period, edged up by 3.6 percent to MYR41.49 billion ($9.43 billion). Malaysia secures $38.4B worth of investment commitments from China, PM Anwar says |
https://technode.global/2023/04/05/malaysian-healthtech-startup-qmed-asia-raises-1-16m-in-equity-crowdfunding-for-regional-expansion/ | Malaysian healthtech startup Qmed Asia raises $1.16M in equity crowdfunding for regional expansion | 36 | Malaysian health-tech startup Leet Capital said in a statement on Wednesday that Qmed Asia has attracted support from 110 investors, including angel investors, the Malaysia Co-Investment Fund (MyCIF) and 1337 Ventures. “Our mission has always been to redefine healthcare by equipping healthcare providers with innovative digital solutions that empower them to deliver exceptional, efficient, and personalized care to their patients,” said Dr. Kev Lim, Co-founder of Qmed Asia. “With this funding, we are well-positioned for regional expansion into markets such as Indonesia and Saudi Arabia, while also driving the development of our deep-tech solutions in medical artificial intelligence (AI). “We are thrilled to continue our journey, fostering a positive impact on the healthcare industry through our groundbreaking products and services,” he added. According to the statement, Qmed Asia was the winner of the 1337 Ventures ECF Accelerator. Established in 2018, Qmed Asia (formerly QueueMed) is founded by a group of doctors and engineers to assist both public and private healthcare providers with their digital health transformation. The idea was to address the problem of long queues in hospitals born out of Co-Founder Dr. Kev Lim’s unpleasant hospital visit. Along with Dr. Tai Tzyy Jiun and Nic Tai, the company now serves over 4,000 healthcare providers in both the public and private sectors, with over 3 millions active patients to date. Qmed Asia’s journey began as an appointment booking and mobile live queue system provider for the healthcare industry, and during the pandemic, they became the official partner for the operations of 42 COVID-19 vaccination centers, signing key partnerships with consumer giant Nestlé Malaysia and property firm SP Setia Group. Qmed Asia recently unveiled two innovative products, including Qmed GO, a telehealth kiosk for workplaces, offering teleconsultations and remote patient monitoring run by local general practitioners (GPs), aimed to reduce employee medical coverage costs. The second product, Qmed Copilot, is an AI-powered clinical assistant that empowers healthcare professionals to make faster and more accurate diagnosis. By leveraging technology, Copilot allows doctors and clinicians to identify patterns and trends in patient data, effectively reducing diagnostic errors and ultimately improving patient outcomes. “We are thrilled to see Qmed Asia successfully fundraise. It’s exciting to see innovative startups like Qmed Asia use alternative financing methods to raise capital and grow their businesses,“Equity crowdfunding provides an avenue for startups to access a wider pool of investors, gain exposure, and build a community of supporters. We are proud to support Qmed Asia and other promising Malaysian businesses on our platform, and we look forward to seeing their continued growth and success. ” said Bikesh Lakhmichand, Chief Executive Officer at Leet Capital. Leet Capital is an innovative and premier equity crowdfunding platform. Since being awarded its license by the Securities Commission Malaysia in May 2019, the firm has been enabling investors to invest in highly vetted, high-growth businesses whilst providing an avenue for high-growth businesses to raise capital. Malaysia HealthTech startup BookDoc partners with Childhope Philippines Foundation for CSR collaboration |
https://technode.global/2023/04/05/funding-societies-partners-food-market-hub-supply-bunny-to-launch-financing-program-for-fb-industry-in-malaysia/ | Funding Societies partners Food Market Hub, Supply Bunny to launch financing program for F&B in Malaysia | 36 | Funding SocietiesThe three parties said in a statement on Wednesday that the program is the first of its kind in the F&B industry, for restaurants and F&B outlet operators in Malaysia. Powered by Funding Societies, the embedded financing in this tripartite partnership allows for seamless integration into Food Market Hub and Supply Bunny’s solutions. This enables the 3,000 F&B operators on Food Market Hub’s platform to receive their inventory orders from the 800 suppliers on Supply Bunny’s platform seamlessly. The embedded financing works by giving the F&B operators the option to defer payment up to 30 days from the date of delivery; simultaneously, the suppliers receive payment upon delivery. With cash flow management being essential for SMEs including those in the F&B segment, the initiative will therefore allow restaurant operators to better manage their cash flow and working capital as they focus on sustaining or growing their businesses. Chai Kien Poon, Country Head of Funding Societies Malaysia, said access to capital remains key to SMEs in the F&B sector as they seek to meet the increased customers’ demand post-pandemic and to help them scale their operations. “Hence, getting easy and direct access to financing is critical,“By partnering with Food Market Hub and Supply Bunny, Funding Societies will be able to serve and scale creditworthy, underserved SMEs in the F&B industry,” he said. Meanwhile, according to Food Market Hub Chief Executive Officer Anthony See, Malaysia’s F&B industry is projected to contribute MYR35.2 billion ($8.01 billion) to the country’s gross domestic product. Amidst that, an estimated 22 percent growth was recorded for 2022 and a further 8 percent expansion this year, he said. “Despite this year’s optimistic outlook, we need to prepare ourselves for a possible recessionary economy, “In such a situation, the cash flow that SMEs save would allow them breathing room, so that they can reinvest into marketing or improving their customer experience. We want to help restaurant operators succeed in the competitive F&B industry” he added. According to the statement, successful restaurant and F&B outlet operators are eligible for a collateral-free, financing facility of up to MYR50,000 ($11372) under the business to business (B2B) financing program, with end-to-end application processes taking approximately two weeks. “We ran a successful pilot over the last few months involving cold-chain and fresh suppliers, and we are now ready to roll out the program on a larger scale,” said Tham Keng Yew, Chief Executive Officer of Supply Bunny. “We are excited about the impact that this initiative can have on the food service vertical in Malaysia – specifically improving cash flow efficiency facilitates just-in-time supply and reduces the stress on the supply chain, “The benefits, in turn, would contribute towards Malaysia’s short- and medium-term policy on food security,” he added. The launch of the B2B financing program is a major milestone for Food Market Hub and Supply Bunny as this marks their first partnership with a leading digital financing platform and is part of their mutually aligned commitment to supporting the growth and development of Malaysian SMEs, specifically the F&B industry. In Malaysia, Funding Societies has successfully disbursed more than MYR2 billion ($450 million) in financing, directly supporting thousands of SMEs. Funding Societies | Modalku is the largest unified SME digital finance platform in Southeast Asia. In eight years, the firm has helped finance over 5.1 million business deals close to MYR13.43 billion ($3.05 billion) in funding. Founded in 2017, Food Market Hub is a procurement and inventory management platform for the F&B industry. The firm operates in six countries across the Asia Pacific region with nearly $1 billion in total order value. Supply Bunny is a purchasing aggregator, allowing small to medium sized food service operators to access the best tier of pricing available. Founded since 2016, more than 300+ operators are using Supply Bunny today for key purchases. Funding Societies crosses $27.8M in loan disbursements to SMEs in Thailand |
https://technode.global/2023/04/04/malaysias-proton-plans-for-comprehensive-new-energy-vehicle-solutions/ | Malaysia’s Proton plans for comprehensive new energy vehicle solutions | 36 | Malaysian national car maker Proton said in a statement the company’s move into the NEV segment continued to gain momentum following the visit. The visit to Ningbo comes a day after the Malaysia – China Business Forum was held in Beijing for business leaders from both nations and was attended by Malaysian Prime Minister Anwar Ibrahim. The event saw the signing of a heads of agreement (HOA) document between DRB-Hicom and Geely that sealed their commitment to jointly invest, manage, and develop the Automotive High Tech Valley (AHTV) in Tanjung Malim, Malaysia into a smart city and hub for Next Generation Vehicles (NxGV). Over the next ten years, AHTV is expected to attract investments worth an estimated MYR32 billion ($7.26 billion). Founded in 2021, Zeekr is a premium electric automobile brand owned by Geely Automobile Holdings that specializes in electric cars and operates on a user-oriented enterprise philosophy, in line with being a smart mobility technology company. The Zeekr Intelligent Factory maximizes the application of IR4.0 and 5G connectivity and epitomises the highest level of manufacturing efficiency. While traditional internal combustion engine (ICE) powered cars remain the mainstay of Proton’s model range in the next few years, Proton has also established its NEV strategy for the near future. Concurrently, through the collaboration with Geely, Proton continues to explore opportunities to accelerate NEV programs in line with the government’s aspirations toward enhancing NEV traction, especially toward offering affordable and practical NEV models, as well as pursuing local manufacturing and ecosystem development of NEV in Malaysia. The first step to be taken will be the launch of the Proton X90, the latest addition to the brand’s range of sport utility vehicles (SUVs) powered by a mild-hybrid version of its 1.5 TGDI engine. This will be followed by the Malaysian market introduction of the smart #1 by PRO-NET in the fourth quarter of 2023. After the visit by the MITI minister, there are now plans to expand the range of offerings and include vehicle segments new to Proton. “I am pleased to highlight after five years into their partnership, Proton and Geely have made great strides in bringing new products, technology, and investment to Malaysia,” said Syed Faisal Albar, Chairman of Proton. Following the signing of the HOA in Beijing on April 1, he said it is now clear AHTV has great potential to attract MYR32 billion ($7.26 billion) of investment and the visit to Ningbo demonstrated the Proton and Geely partnership wil continue to prosper with the future implementation of NEV programs. He acknowledged the importance of Malaysia becoming the regional hub for NxGV products hence Proton as the national brand will play an active role in contributing significantly towards achieving the nation’s goals. “To be competitive, Proton and the automotive ecosystem must invest in research and development (R&D), as well as advanced manufacturing processes, “With progressive development of AHTV and constant engagement among stakeholders especially the Government of Malaysia, DRB-Hicom, Geely Group, Proton and automotive ecosystem, these goals are within reach,” he added. Since 2018 with support from DRB-Hicom and Geely, Proton has invested more than MYR3.3 billion ($750 million) as part of its performance turnaround initiatives, which covers product development, new technology integration, manufacturing expansion and human capital development especially in new and emerging technologies. With the development of AHTV, more investments are planned to focus on new products and technologies, including new energy solutions and intelligent technologies. The pursuance of transformation initiatives is particularly important for the company hence synergy with Geely in technology development is vital towards achieving the strategic goals. As of today, steps have already been taken towards achieving Proton’s long-term goals. A permanent office has been established at the Geely Automobile Research Institute (GRI) in Hangzhou Bay to facilitate all development activities between the engineering teams. The company has already assigned 18 engineers based to be based there on the first phase of R&D and NEV development programs and more will be assigned soon, a move that will help accelerate the transfer of technology. “Proton is now in the second half of its ten-year business plan. Besides the hiccups caused by two years of pandemic control measures, we are pleased with the progress made so far,” said Li Chunrong, Chief Executive Officer of Proton. Over the next five years, he said the firm aims to work even more closely with Geely and expand its offerings as the market for NEVs grows. This in turn will help develop the national automotive ecosystem and push Malaysia towards its target of being an NxGV hub, he added. “We will also expand our focus to include other aspects that support the industry, “For example, charging infrastructure development is a priority for NEVs so we will optimize synergy with Geely group of companies to enhance the NEV infrastructure for Proton and the ecosystem in Malaysia,” he said. Malaysia government in talks with Proton, Perodua to expedite production of national EVs – report |
https://technode.global/2023/04/04/kairous-capital-to-establish-malaysia-china-digital-cooperation-council-226m-fund-to-invest-in-tech-sectors-in-china-malaysia/ | Kairous Capital to establish Malaysia-China Digital Cooperation Council & development fund to invest in tech sector in both countries | 36 | Malaysia-headquartered venture capital firm “MCDCC’s key objective is to facilitate long-term cross-border collaboration between Malaysian and Chinese companies in the areas of technology and innovation,” Kairous Capital said in a Linkedin post on Monday. In conjunction with this, MCDCC also announced the establishment of the Malaysia-China Digital Cooperation & Development Fund to invest up to MYR1 billion ($226.28 million) in digital technology sectors, including digital applications, industrial big data, advanced manufacturing technology, industrial technology, and other sectors in Malaysia and China. Kairous Capital was represented by its Managing Partner Joseph Lee at the signing ceremony on Saturday (Apr 1). The signing ceremony was witnessed by Malaysia Prime Minister Anwar Ibrahim, International Trade and Industry Minister Tengku Zafrul Aziz; Science, Technology and Innovation Minister Chang Lih Kang, Foreign Minister Affairs Zambry Abdul Kadir, Transport Minister Anthony Loke, Local Government Development Minister Nga Kor Ming, and Tourism, Arts and Culture Minister Tiong King Sing. Kairous Capital is set up by a team of investment professionals who collectively have more than 30 years of investment experience within the venture capital and private equity space across Greater China and the ASEAN region. The firm invests with a cross-border strategy in mind and act as a financial investor as well as the cross-border partner for its investees. Kairous Capital’s main investment thesis is to invest in Chinese tech companies and exporting their technology and expertise from China to Southeast Asia. The firm also invests in Southeast Asian tech companies by referencing to proven business models and strategies of tech unicorns in China. Kairous Capital is an investor in TechNode Global. Malaysia secures $38.4B worth of investment commitments from China, PM Anwar says |
https://technode.global/2023/04/03/ericsson-to-collaborate-with-intel-on-advancing-usage-and-adoption-of-5g-in-malaysia/ | Ericsson to collaborate with Intel on advancing usage and adoption of 5G in Malaysia | 36 | Swedish telecommunications company Ericsson said in a statement on Monday that the firm and Intel will collaborate on their respective technology expertise to show how communications service providers (CSPs) can accelerate 5G adoption and expand their business-to-business (B2B) engagements based on 5G use-cases. Amongst the areas identified for collaboration are the joint development of enterprise use cases in selected verticals such as manufacturing, transport and logistics. In addition, it involves working on the benefits of digitalization for emerging economies and the role 5G connectivity can play in building sustainable and resilient digital economies. “5G is a platform for innovation and will transform the way enterprises operate,“Ericsson’s collaboration with Intel in Malaysia will contribute to the adoption of 5G and development of the local ecosystem that will in turn drive Malaysia’s digital transformation,” said Head of Ericsson Malaysia, Sri Lanka and Bangladesh David Hägerbro. According to Hägerbro, this collaboration will also ensure Malaysia has a distinct advantage compared to other markets in the region when it comes to foreign investment. “With the increasing digitalization of our society and economy, 5G is becoming a fundamental component to drive innovation across all business segments, “This collaboration demonstrates how the Malaysian 5G infrastructure with innovative edge services – powered by Ericsson and Intel technologies – enables local enterprises to transform and accelerate their businesses through digital solutions,” said Intel Malaysia Managing Director AK Chong. Ericsson is a Swedish multinational networking and telecommunications company headquartered in Stockholm. The company’s portfolio spans the following business areas: networks, cloud software and services, enterprise wireless solutions, global communications platform, and technologies and new businesses. It is designed to help its customers go digital, increase efficiency and find new revenue streams. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. Gaw Capital Partners partners A3 Capital to launch Infinaxis Data Center in Malaysia |
https://technode.global/2023/04/03/malaysia-secures-38-4b-worth-of-investment-commitments-from-china-pm-anwar-says/ | Malaysia secures $38.4B worth of investment commitments from China, PM Anwar says | 36 | Malaysia has secured a record MYR170 billion ($38.4 billon) worth of investment commitments from China, according to Prime Minister Anwar Ibrahim. The amount, the biggest so far from China, is from a total of 19 memoranda of understanding (MOU) sealed between businesses in China and Malaysia, national news agency “We have achieved the commitment of MYR170 billion in investments from China. I must thank the investors for giving their cooperation and for giving us confidence. This is historic. It is good for Malaysia and the future,” he said when announcing the news at the Malaysia-China Business Forum 2023, which was attended by some 1,000 business leaders from both countries in Beijing on Saturday. The prime minister was on the last of his three-day visit in China to deepen strategic bilateral political and trade relationship with China. Earlier, in his keynote address at the forum, Anwar has urged Chinese investors and business leaders to leverage the strong bilateral ties and seize the vast opportunities being offered by the current government to invest in Malaysia. “I assure you that under my watch, we will ensure that the ease of doing business and undertaking investments in Malaysia will be at optimal level. So, build more partnerships with Malaysian companies, particularly in strategic sectors to advance deeper interlinkages,” he was quoted as saying. China remains Malaysia’s largest trading partner for 14 consecutive years, with total trade of $110.6 billion in 2022. On the investment front, China was the biggest foreign direct investor in Malaysia last year, with investments amounting to $12.5 billion. According to statistics from Malaysia’s Foreign Affairs Ministry, total exports to China increased 9.4 percent to MYR210.62 billion ($47.84 billion) in 2022, while total imports from China stood at MYR276.50 billion ($62.78 billion) in the same year, or an increase of 20.7 percent compared to the previous year. Anwar, who is also the finance minister, said Malaysia’s position as the preferred investment destination has been solidified further with the presence of renowned Chinese companies such as Risen Energy, Huawei, Longi Solar, Bytedance, Jinko Solar, EVE Energy, Alliance Steel, Alibaba Group, Geely Auto Group, Xiamen University and many others. “It is my hope that these companies, which have invested in strategic areas, will continue to expand their presence and work with local partners, as well as the government to build new capabilities, develop key industries, and create high-paying jobs for Malaysians,” said the prime minister. He said Malaysia will continue to work with China to deepen existing cooperation in the Belt and Road Initiative (BRI), and to expand economic cooperation in new growth areas, such as green development and digital economy. Anwar also said Malaysia will work closely with other Asean member states to ensure that the Asean-China Free Trade Area (ACFTA) benefits all parties involved. He said the timely upgrade of the ACFTA will not only deepen trade and investment within the region but also broaden economic benefits with the inclusion of new sectors, namely digital economy, green economy, competition and consumer protection, as well as micro, small and medium enterprises. “At the same time, the Straits of Malacca will be kept free and safe for economic and trade flows and international stability. It is our moral and historical duty to keep it that way,” he added. The prime minister has also witnessed the exchange of 19 MOUs between the companies involved. Among notable MOUs were the heads of agreement between Other MOUs sealed were between Digital Way Group Sdn Bhd, China Silk Road Group Ltd and China Kairous Capital to jointly establish a Malaysia-China digital and development fund in China and Malaysia, as well as one on a proposed development of a waste-to-energy plant in Malaysia. Malaysia’s DRB-Hicom partners China’s Geely to develop Automotive High-Tech Valley in Malaysia |
https://technode.global/2023/04/03/malaysias-drb-hicom-partners-chinas-geely-to-develop-automotive-high-tech-valley-in-malaysia/ | Malaysia’s DRB-Hicom partners China’s Geely to develop Automotive High-Tech Valley in Malaysia | 36 | Malaysian automotive manufacturer and distributor DRB-Hicom said in a statement on last Saturday that AHTV will be Malaysia’s next generation vehicle hub in Tanjong Malim covering extensive automotive and mobility solutions value chain, from a fully-fledged high technology global research and development centre to a manufacturing cluster and supporting services and associated ecosystem. The focus of the HOA is the development of an integrated automotive city that will give birth to a hub for a new energy vehicle (NEV) industry. AHTV will occupy an area of approximately 1,000 acres and will be expanded accordingly to cater for future needs. Over the next ten years, AHTV is expected to attract some MYR32 billion ($7.24 billion) worth of investments, including by national car company Proton. AHTV will also receive direct and indirect benefits from Proton’s plan to fully relocate its manufacturing facilities to Tanjong Malim by 2026. Proton currently produces five models in AHTV and another two models in Shah Alam, Selangor, Malaysia. AHTV will also include a research-based university to nurture new talents and development in areas of new and emerging technologies for the industry and the automotive sector in general. It will also house a research and development (R&D) center that will provide carmakers with a tropicalized setting to test their vehicles. With the global trend shifting towards NEV, Geely’s role in the development of AHTV is apt, given the Chinese carmaker’s wide experience in sector. Geely’s flagship brand, Geely Auto, has launched several NEVs, including the intelligent luxury EV brand Zeekr. The company has also invested in a range of battery technologies and has a dedicated new energy division which is focused on developing and producing NEVs, and has announced plans to launch more than 30 new energy models across its brands by 2025. DRB-HICOM is one of Malaysia’s leading conglomerates with core businesses in the automotive, aerospace and defence, banking, postal, services, and property sectors. The company has 82 active companies and more than 46,000 employees group-wide. In the automotive sector, the firm is involved in the manufacturing, assembly and distribution of passenger and commercial vehicles, including the national motorcycle. In aerospace and defence, the firm is involved through its subsidiaries CTRM and DEFTECH, while it is represented in the postal segment through its subsidiaries Pos Malaysia, and banking through Bank Muamalat. In the services segment, DRB-Hicom is involved in various businesses, including concession, education, aviation and logistics and investment holdings whereas in property, it is involved in the development of industrial properties. Malaysia’s Computer Forms partners with Thailand’s Energy Absolute for electric vehicles venture |
https://technode.global/2023/04/03/malaysias-mn-holdings-partners-chinas-dc-science-to-set-up-high-performance-data-center-in-malaysia/ | Malaysia’s MN Holdings partners China’s DC-Science to set up high performance data center in Malaysia | 36 | Malaysian underground utilities and substation engineering specialist MN Holdings said in a statement on Monday that the project, has an overall estimated value of over $600 million. MN Holdings’ wholly-owned subsidiary Mutu Nusantara Sdn Bhd and DC-Science inked a memorandum of understanding (MOU) for the data center on April 1, 2023. The data center project is part of a series of foreign direct investments secured for Malaysia in conjunction with Prime Minister Datuk Seri Anwar Ibrahim’s maiden visit to China on March 30 to April 2, 2023. Spanning across a 20-acre site at the Sedenak Tech Park, Johor, the high performance data center is a significant milestone for Malaysia. It is DC-Science’s first location outside China, having set up more than 300 data centers across the home country. Under the current planning, utilities for the project comprises a power load of 120MW with dual power supply to support the 12,000-rack facility. Daily average water supply is expected to be about 5,000 metric tonnes (MT), while the network access infrastructure shall be made available. Phase 1 of the project is slated to begin development this year, and to commence operations in the first half of 2024. Loy Siong Hay, managing director of MN Holdings, said the company is proud to represent Malaysia as DC-Science’s chosen partner, to ensure a successful roll-out of the data center service provider’s maiden project. He said the partnership is a testament to MN Holdings’ core expertise in the underground utilities construction, as well as substation engineering solutions, which spans the installation of electricity transmission cables, sewerage and drainage pipelines, as well as construction and commission of the plantIt also marks further diversification of MN Holdings’ customer base, following its success in harnessing greater participation in large scale solar (LSS) projects and other works related to data centers and the semiconductor industry here, he added. “We are proud to take part in DC-Science’s expansion into Malaysia. This development reaffirms Malaysia’s position as an investment destination, and will be a boost for local talents supporting the booming data center industry,” he said. He also believes that with the collaboration with DC-Science, the firm will be able to further strengthen its technical know-how on construction and engineering of a data center. “As Malaysia sees more investments from both the local and international fronts, we are ready to offer our expertise in underground utilities infrastructure development and engineering,” he added. This latest partnership with DC-Science will also provide a boost to MN Holdings’s future order book, which stood at MYR 325.9 million ($73.69m) as at January 20, 2023. MN Holdings said the firm will continue to explore opportunities among local and international clients here, leveraging on its core expertise in underground utilities and substation engineering to support the nation’s growth in digitalization telecommunication. Details on the scope of work will be finalised upon the signing of the supplementary agreement between DC-Science and MN Holdings. MN Holdings is principally involved in the provision of infrastructure utilities services comprising underground utilities engineering services and solutions substation engineering services and solutions. The company mainly serves customers in the power, gas, sewerage and telecommunications industries in Malaysia. Its customers are primarily main contractors for utility projects, property developers and industries that require its services to enable the supply of power premises. GDS, TNB sign supplemental agreement for powering data center campus in Malaysia |
https://technode.global/2023/03/31/malaysia-singapore-announces-cross-border-qr-code-payment-linkage/ | Malaysia, Singapore announces cross-border QR code payment linkage | 36 | Bank Negara Malaysia (BNM)“It will support in-person payments through the scanning of physical QR codes displayed by merchants, and online cross-border e-commerce transactions,” the central bank added. The DuitNow-NETS QR code payment linkage is a key milestone in the on-going collaboration between Malaysia and Singapore to enhance cross-border payments connectivity. With pre-pandemic annual traffic between the two countries averaging 12 million visitors, the payment linkage will provide merchants and consumers with a more seamless and efficient means to make and receive payments. This initiative is testament to both countries’ commitment to improve the cost, speed, access and transparency of cross-border payments, in line with the ASEAN Payment Connectivity Initiative and the G20 Roadmap for Enhancing Cross-border Payments, the central bank said. According to BNM, this cross-border QR code payment linkage is made possible through the strong collaboration of various industry players from both countries, including Payments Network Malaysia Sdn. Bhd. (PayNet), Network for Electronic Transfers (Singapore) Pte. Ltd (NETS), the Association of Banks in Singapore, and participating financial institutions from both countries. In the next phase, BNM and MAS plan to expand the payment linkage to enable cross-border account-to-account fund transfers and remittances. This will allow users to make real-time fund transfers between Malaysia and Singapore conveniently using just the recipient’s mobile phone number via DuitNow and PayNow. This service is expected to go live by end-2023. Bank Negara Malaysia Governor Nor Shamsiah Mohd Yunus said, “This is a significant step forward in realizing the vision of an ASEAN network of fast, efficient and interconnected retail payment systems. The QR linkage between Malaysia and Singapore will benefit millions of commuters across the Causeway as well as business and leisure travelers. It will also be a boost to retail businesses in both countries. We will continue to work closely with our partners to accelerate our digitalization agenda towards increased regional economic and financial integration. ”Managing Director of the Monetary Authority of Singapore, Ravi Menon, said, “The DuitNow-NETS QR code payment linkage is the latest addition to Singapore’s growing set of cross-border payment linkages. These linkages will help boost cross-border commerce and enable our merchants, especially small businesses to tap on a wider pool of consumers. This QR code linkage between Singapore and Malaysia is an important milestone in ASEAN’s journey towards seamless regional payments connectivity. ”Malaysia, Indonesia central banks launch cross border QR payment linkage |
https://technode.global/2023/03/29/gobi-partners-onboards-care-concierge-to-the-khazanah-backed-gobi-dana-impak-ventures-fund/ | Gobi Partners onboards Care Concierge to the Khazanah-backed Gobi Dana Impak Ventures fund | 36 | Gobi PartnersGDIV is a part of the Future Malaysia Program, an initiative announced on 16 March 2023 under Malaysian sovereign wealth fund, Khazanah Nasional Berhad (Khazanah)’s Dana Impak mandate that aims to support the local start-up ecosystem of entrepreneurs, start-ups, venture capital, and corporate venture programs, through collaborations with domestic and international partners such as Gobi Partners, Gobi Partners said in a statement. Dana Impak is a $1.3 billion allocation over five years and a key pillar under Khazanah’s Advancing Malaysia strategy which seeks to invest across six themes based on issues and challenges facing the nation that include digital society and technology, quality health and education for all, decent work and social mobility, food and energy security, building climate resilience and competing in global markets. The investment into Care Concierge fits the fundamental objective of Dana Impak, which is to invest in catalytic sectors to increase Malaysia’s economic competitiveness and build national resilience. Care Concierge meanwhile, helps families navigate the complexities of finding the right senior care solution for their loved ones across its various services of home care, residence care, day care and shop care. Founded by Chief Executive Officer Martin Yap and Chief Operations Officer Justin Yap in 2017, Care Concierge’s inception was inspired by Martin’s family’s struggle in finding assistance for the care of his grandmother who succumbed to a stroke. This led to the realization of what Malaysia needs especially with its ageing population on the rise, and the younger generation that is career-centric. Driven by technology, design thinking, and innovation, Care Concierge is also one of six winners of the Khazanah Impact and Innovation Challenge 2021 with the prize being a grantCare Concierge fits Dana Impak’s three themes, the first being quality health and education as it provides skills training and career opportunities for healthcare workers under its very own Care Concierge Academy. To date, Care Concierge has over 2,000 professional caregivers, nurses, occupational therapists and physiotherapists registered on its platform. The second theme is decent work and social mobility, by matching its customers to professional caregivers, the company allows the provision of gig employment to individuals and subsequently supports the gig economy of Malaysia. The final theme is digital society and technology hub. Care Concierge’s core business solutions are managed by an in-house developed web and mobile application. This digital approach provides the convenience of selecting the type of service a customer requires which is then matched to the experience and expertise of its caregivers. The Care Concierge App is intended to deepen the human connection and experience between its clients and caregivers. Gobi Partners Cofounder and Chairperson Thomas Tsao said Gobi has a strong belief in Malaysia’s entrepreneurial potential and world-class talent. “As a firm headquartered in Kuala Lumpur, our early investments in more than 30 Malaysian startups have yielded success, “We have thoroughly evaluated Care Concierge and are confident in their growth prospects for the Silver Economy,” he said. Care Concierge Founder and Chief Executive Officer Martin Yap said the funding from Gobi, under the auspices of Khazanah, is indeed timely as it augurs well with the ageing population challenges that the country is currently facing. “We are committed to using this funding to create innovative and digital solutions that will revolutionize senior living care, including the Caregivers profession and make an impact in the lives of our ageing population,” he said. Cited a report by the United Nations, Gobi Partners said that Malaysia is expected to become an ageing society by 2030, with more than 15 percent of the population aged 60 years and above. One of the key challenges associated with ageing is the provision of healthcare services to the elderly as they are more susceptible to chronic diseases and disabilities, which require specialized medical care. Gobi Partners is a venture capital firm with $1.5 billion in assets under management (AUM). Headquartered in Kuala Lumpur and Hong Kong, the firm supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets. Founded in 2002, Gobi has raised 15 funds to date, invested in over 350 startups and nurtured 10 unicorns. Gobi has grown to 15 locations across key markets in Bangkok, Beijing, Cairo, Guangzhou, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Shanghai, Shenzhen, Singapore and Surabaya. Gobi Partners and MAVCAP works with Paywatch to address demand for earned wage access |
https://technode.global/2023/03/27/advisonomics-partners-kakitangan-to-provide-financial-planning-app-in-malaysia/ | Advisonomics partners Kakitangan.com to provide financial planning app in Malaysia | 37 | Malaysia-based financial planning firm Advisonomics has joined hands with cloud payroll and human resource software provider The two parties said in a statement that they have integrated their respective platforms to provide Kakitangan. com users an access to the financial planning app. According to the statement, this memorandum of understanding (MoU) was born out of the two companies’ mutual concerns that Malaysians do not have sufficient accessible savings and wealth building solutions, specifically in matters of retirement savings. By making the CashKu app more accessible, they hope to encourage and help more small and medium-sized enterprise (SME) employees prepare their nest eggs for retirement and increase Malaysians’ access to financial advisory services. “In the past two years, reflective of global as well as domestic economic environments, not to mention the disruption brought about by the COVID-19 pandemic, the need for stable and more accessible retirement savings facilities has been augmented,” said Advisonomics Co-Founder Raevendren Ramachandran. “Aside from employee provident fund (EPF), the average person generally lacks access to financial advisory services and investment opportunities that will help increase their retirement savings, “Additionally, financial planning and investment programmes often require significant financial outlays,” he added. CashKu, designed and managed by Advisonomics, is a digital financial planning app that is targeted to create awareness around savings, retirement planning and financial literacy. With the aim to democratize access to financial planning and wealth management, the app is highly user friendly, even to those new to this game. The first app of its kind in Malaysia, CashKu is an ideal platform to launch an investment initiative, enabling users to save and invest with outlays as low as MYR10 ($2.26) with advisor support included. Two primary components of this app are the CashKu Save program which offers higher returns than conventional savings as well as better liquidity options; and CashKu invest through which everyone can access all risk portfolios with zero sales charge. “This tie up with CashKu is aimed at helping all Malaysians better prepare for their financial futures,“Over 60,000 employees from some 12,000 companies that Kakitangan. com works with will have access to the benefits of CashKu,” said Kakitangan. com Founder and Chief Executive Officer Effon Khoo. “It is also very much in line with Kakitangan. com’s philosopy and objective to help people live better lives,” he added. Advisonomics is a registered financial planning firm established in 2019, backed by highly experienced and trained financial advisors. Holding both HRDF and financial planning licences, the firm aims to democratise and create financial literacy among Malaysians using a powerful mix of technology and human collaboration, with the message that everyone can create investments towards securing their financial future. Kakitangan. com is Malaysia’s leading cloud payroll and human resource software provider. The platform offers a simple, elegant way to streamline and manage HR administrative processes and policies, especially for small and medium businesses. The platform processes payroll of over MYR4 billion ($900 million), supported by 16 banks and PDPA audited by BDO. With cloud data storage on AWS, it is easily accessible anywhere and anytime. The platform also recently introduced a free mobile app to further facilitate ease of use by employees and employers alike. Malaysia’s Revenue Monster clinches $6.6M funding from SEA Capital |
https://technode.global/2023/03/23/malaysias-blueshark-launches-initiative-to-accelerate-the-adoption-and-development-of-electric-motorcycles/ | Malaysia’s Blueshark launches initiative to accelerate electric motorcycles adoption and development | 37 | Malaysia-based electric vehicle (EV) tech mobility company The new program was launched at an open day hosted by Malaysian Green Technology and Climate Change Corporation (MGTC). MGTC said in a statement that Malaysia has approximately 7.8 million active motorcycles, making it the most popular and affordable motorised transport. However, it said each petrol motorcycle releases 60 gCO2eq/km compared to an electric bike emitting about 27 gCO2eq/km. Adopting the latter will reduce the country’s carbon emissions and complement LCMB’s aim to achieve the target of 15 percent electric motorcycles on the road by 2030, it said. To eliminate the primary concerns among motorcyclists on EVs, which are the cost and waiting time for charging, Blueshark has introduced its battery leasing and swapping initiatives. “At Blueshark, we firmly believe battery-swapping technology is crucial for adopting EV motorcycles in Malaysia,“The shift to EVs needs to happen sooner rather than later to overcome the dangers posed by carbon emissions from the transportation sector,” said Jeff Chong, Chief Executive Officer of Blueshark Ecosystem Sdn Bhd. He said that Blueshark will support and accelerate Malaysia towards its net zero emissions target through our end-to-end product, software and renewable energy infrastructure ecosystem. “We are proud to support Malaysian Green Technology and Climate Change Corporation (MGTC)’s mandate to improve the carbon situation in Malaysia in support of its government stakeholders towards an electrified future,“The MyEVE programme will place the most advanced EV technology, features and aesthetics within reach of people from all walks of life to elevate people and enable electric mobility for all while saving the planet,” he added. MGTC Chief Executive Officer Ts Shamsul Bahar Mohd Nor said that decarbonising land transportation requires support from various stakeholders. He said that MGTC will continue to play an active role in supporting and driving this green agenda through effective collaboration. “We strongly encourage all sectors to spread awareness and initiate EV adoption by introducing electric motorcycles in their fleet, “I praise Blueshark’s commendable effort in offering a special package for government servants through the MyEVE program,” he said. To build low-carbon cities, he also said local authorities have been urged to set their direction and implement suitable approaches that help reduce the impact of climate change in the country. Utilising this programme can be an option worth exploring, he added. Blueshark is a EV tech mobility company pioneering electromobility and game-changing energy solutions worldwide. It powers smart mobility and swappable energy solutions by leading the charge on green mobility and green energy for all. As the Malaysian subsidiary of Sharkgulf Technologies Group, the firm driven by its technology leadership with over 130 invention patents filed, internet of vehicles, smart partnerships and innovations in renewable energy solutions. MGTC is an agency of the Ministry of Natural Resources, Environment and Climate Change (NRECC) in Malaysia mandated to drive the country in the scope of accelerating green growth, climate action empowerment, and cultivating green lifestyle. Malaysia government in talks with Proton, Perodua to expedite production of national EVs – report |
https://technode.global/2023/03/23/malaysia-to-launch-initiative-to-put-innovation-into-mainstream-of-economy-report/ | Malaysia to launch initiative to put innovation into mainstream of digital economy – report | 37 | An initiative to put innovation into the mainstream of the digital economy among the people will be launched soon, said Malaysia’s Economy Minister Mohd Rafizi Ramli. Without disclosing details, he said on Wednesday the initiative had been carried out with the cooperation between his ministry and the Ministry of Science, Technology and Innovation since two months ago, national news agency “We have a good framework in terms of how [we want] to enhance the digital economy, but usually when we talk about frameworks or policies, a lot of focus is being given to financial issues, aid and so on. “But we also have a challenge that needs to be dealt with well, which is the level of innovation in the economy, as the digital economy needs a high level of innovation,” he told reporters after attending a meeting with the ministry’s staff on Wednesday. Earlier in his speech, Rafizi urged the ministry’s staff to ensure that the Energy Transition Roadmap could be finalized within three months. “Our team has a heavy task to ensure that the plan can be completed in three months. This not only involves environmental issues or zero emissions, as the major goal of the energy transition is to guarantee the continuity of energy supply,” he said. Malaysia introduces initiatives to ensure local startups will have access to later stage financing |
https://technode.global/2023/03/22/capital-markets-malaysia-launches-corporate-venture-capital-program-to-advance-local-ecosystem/ | Capital Markets Malaysia launches Corporate Venture Capital Program to advance local ecosystem | 37 | Capital Markets Malaysia (CMM)Concurrently, this approach of spurring corporate interest and investments in start-ups or micro and small-to-medium enterprises (MSMEs) aims to build confidence in corporate venturing as a potential enabling or innovation strategy to catalyse growth, CMM said in a statement. According to the statement, CMM’s collaboration with the Malaysian Digital Economy Corporation (MDEC) for the inaugural program reinforces the significance of technology and digitalization in spurring economic transformation and progress. This initiative will also see CMM working alongside relevant agencies and investment entities in Malaysia to bring together and connect verticals in a network that will improve access to capital, capacity building, as well as business leadership and development. “The capital market plays a critical role in strengthening and reinforcing our financial structures. As our nation builds back stronger, our Capital Market Masterplan 3 (CMP3) paves the way towards a more sustainable and equitable economy,” said Dr. Awang Adek Hussin, Executive Chairman of SC, and Chairman of CMM. According to him, to facilitate wider population participation in the economy requires enabling infrastructures and networks, especially greater access to capital and funding avenues to facilitate capacity building for scale. He said the CVC program builds on the existing ecosystem to connect different ecosystem players across private and public markets, from entrepreneurs, start-ups to the mature,According to the statement, these developments will generate economic activities that create high-value jobs, business opportunities and talent development, elevating communities in ways that fortify the local economy against future global fallouts. In addition, the structures are also intended to transition Malaysia towards a greener economy, develop high tech industries, and at the same time, accelerate PLC growth by leveraging digitalization and innovation. “Our goal for CVC is two-fold: firstly, to shape a more vibrant private marketplace by attracting corporate investments through the promotion, awareness and eventual familiarity with corporate venturing,” said CMM’s General Manager Navina Balasingam. Meanwhile, she noted the program’s capacity building serves to empower PLCs in understanding when and how to leverage CV to fuel strategic growth. “There are many success stories of mutually beneficial outcomes where corporates are able to expand their product portfolios to capture new opportunities and scale their businesses, or monetise the investments for other strategic purposes,” she added. According to the statement, the collaborative efforts with MDEC to strengthen the pathway for companies in the digital industries to gain better access to capital, will lay the foundation for a strong and robust pipeline of growth-focused businesses. It said that magnifying Malaysia’s digital economy will grow local talent and industries much needed to support the new economy. It also said it is proven that companies or corporates that lean into digital transformation solutions have not only remained resilient but are able to insulate themselves against different challenges to capitalise post-crisis growth opportunities. “MDEC’s collaboration with CMM to roll out this multi-dimensional program is well aligned to the new strategic initiative of Malaysia Digital (MD),” said Ts. Mahadhir Aziz, Chief Executive Officer of MDEC. “Networks, access, and connectivity, in every sense of the word, have and will continue to be the cornerstones of success for any business, “We applaud the CMM’s efforts to catalyse entrepreneurship and the private investing ecosystem. This will have a large multiplier effect and complements MDEC’s efforts to drive investments, build local tech champions, catalyse the innovation ecosystem, and propagate digital inclusivity,” he added. According to Navina, CMM’s goal for the CVC program is to promote awareness and familiarity with the corporate venturing strategy, the players and ecosystem. “Familiarity will build confidence in navigating what seems to be a complex and opaque space, “Through this concerted effort to elevate the ecosystem, we are confident that more companies, both public and private, will be able to benefit from the investment and innovation contributed by each party,” she said. She also noted that over the next two years, the agency aims to collaborate with more strategic partners like MDEC to bring relevant and impactful workshops and networking roundtables to benefit the ecosystem and its players. The CVC program is a leadership development program featuring workshops to promote market development opportunities and capacity building. Each of these two-day workshops will be facilitated by industry leaders and features a high-impact line-up of local and international market players from the VC, PE, digital and technology space. Topics covered include, “Innovation Readiness: 8 Innovation Key Drivers, Executing Corporate Venturing Strategy”, and the Malaysian VC Landscape. Khazanah launches Future Malaysia Program to spur the local start-up ecosystem |
https://technode.global/2023/03/21/malaysias-khazanah-anticipates-another-challenging-year-ahead/ | Malaysia’s Khazanah anticipates another challenging year ahead | 37 | Malaysian sovereign fund Khazanah said in a statement that the fund will continue to remain vigilant in its investing activities with the aim of maintaining portfolio resilience through diversification. Despite the uncertainties, Khazanah said it remains optimistic in identifying investment opportunities within emerging global trends – structural changes to the multipolar global system and the growing challenges of climate change, energy transition and sustainability. It said Khazanah remains firmly committed in its role as an active steward and shareholder of its portfolio companies in Malaysia as it seeks performance, value creation and long-term shareholder value. Meanwhile, Khazanah said it will continue its quest to seed new growth areas and ecosystems via Dana Impak. In line with Malaysia’s Budget 2023, Khazanah launched the Future Malaysia Program, an initiative under Dana Impak, to support the local ecosystem of entrepreneurs, start-ups, venture funds, and corporate venture initiatives, which is an essential source of innovation, employment and investment for the nation. The programme involves working with domestic and international partners to fund high-growth and innovative Malaysian companies with sustainable business models that delivers socioeconomic impact and benefits for our country. To this end, Khazanah believes that the availability of talent is crucial to the continuous development of any industry, especially the rapidly evolving digital industry which is facing increasing talent demand. Khazanah said it will invest, via its Future Malaysia Skills initiative, in upskilling and reskilling initiatives with the aim to generate a sustainable pipeline of talent, and in the process, provide Malaysians with in-demand skills for access to high quality jobs, leading to improved livelihood and spurring competitive industries that drive economic growth for the nation. “Khazanah will continue to deliver on our mandate and remain committed to Advancing Malaysia, that is to drive Malaysia’s success in the global arena and continue to focus on value creation initiatives while staying ahead of the curve in a rapidly changing market environment,” Khazanah Managing Director Amirul Feisal Wan Zahir said. According to him, Dana Impak initiatives will remain focused to increase Malaysia’s economic competitiveness and build national resilience via innovative partnerships and new growth areas. “This, along with our efforts in building on our financial strength, focus on sustainability and developing a winning team would complement our purpose for the country,” he added. It is noted that on Dana Impak, MYR500 million ($111.71 million) worth of projects have been identified across various impact areas, aiming at building national resilience and new growth opportunities. Key areas include agrifoods and work force digital upskilling as well as a commitment to support entrepreneurs and venture capital (VC) ecosystem. Meanwhile, Khazanah announced that it recorded an improved profit in 2022 mainly contributed from monetization activities and lower impairment in the portfolio. The group’s profit from operations rose to MYR1.6 billion ($360 million) in 2022 from MYR670 million ($150 million) in 2021. Its net asset value (NAV), however, saw a decline of 5 percent from MYR86 billion ($19 billion) in 2021 to MYR81 billion ($18.1 billion) in 2022 attributed by the global market downtrends. Khazanah said the firm is focused on building long-term financial return and continued its portfolio rebalancing towards the target strategic asset allocation with deployments into public equities, private equities and real assets. According to Khazanah, MYR6.6 billion ($1.5 billion) was deployed in new investments and MYR2.5 billion ($560 million) raised from monetisation of assets. Khazanah declared a dividend of MYR500 million ($112 million) for 2022 to the government of Malaysia, with cumulative dividends declared since 2004 amounting to MYR17.1 billion ($3.82 million). According to Khazanah, 2022 was a challenging year for Khazanah and the global markets, with rising inflationary pressure, aggressive monetary tightening and energy crisis due to the Russia-Ukraine conflict. “Despite the challenging market conditions globally, we delivered a satisfactory performance in the first full year of implementing our refreshed strategy, “Our nation building mandate of delivering long-term sustainable value remains unchanged and we will ride through the short-term market volatility and remain focused on our long-term goals,” said Amirul Feisal. “There are ongoing concerns that the inflationary environment and tightening monetary conditions will lead to a global recession, exacerbated by continuing geopolitical risks, “However, Khazanah’s disciplined investment approach, as guided by our long-term Strategic Asset Allocation (SAA) and active portfolio management helped navigate the volatility in the markets as we maintained discipline in our value creation and monetization efforts,” he added. Khazanah launches Future Malaysia Program to spur the local start-up ecosystem |
https://technode.global/2023/03/17/petronas-plans-to-expand-corporate-venture-capital-arm-with-up-to-200m-report/ | Petronas plans to expand corporate venture capital arm with up to $200M – report | 37 | Malaysia’s national oil company,Petronas will focus on making innovation and technology investments across Asia-Pacific, the sources reportedly said. The extra funding could change as the plan is still being finalized, one of the sources added. The oil company said in a response toMalaysia’s government has been wanting to boost and support the local startup ecosystem with various initiatives and policies. On Thursday, Malaysia’s sovereign fund Khazanah Nasional Berhad announced the launch of the Future Malaysia Program to support the local start-up ecosystem of entrepreneurs, start-ups, venture capital, and corporate venture programs through collaborations with domestic and international partners. Chang Lih Kang, Minister of Science, Technology and Innovation of Malaysia, toldPetronas, the country’s only Fortune Global 500 company, has been looking to diversify amid volatility in oil markets. The state oil company first set up a venture capital arm called Petronas Corporate Venture Capital in 2019, according to the report. The arm was later renamed Petronas Ventures and has invested in companies including Malaysian agriculture technology startup Braintree Technologies and US-based waste-to-energy company Ekamor, information from its website showed. Petronas Ventures’ main goals include scouting for niche innovative technology to enhance the group’s core operations and growth areas that could become its new sources of revenue, the company said on Friday. Petronas has also been expanding in renewable energy, with the launch of its clean energy unit called Gentari in June. In February it bought Australian renewables firm Wirsol Energy, which owns solar farms and battery energy storage. Khazanah launches Future Malaysia Program to spur the local start-up ecosystem |
https://technode.global/2023/03/16/khazanah-launches-future-malaysia-program-to-spur-the-local-start-up-ecosystem/ | Khazanah launches Future Malaysia Program to spur the local start-up ecosystem | 37 | Malaysia’s sovereign fund Khazanah said in a statement that the initiative is under under its Dana Impak mandate, which is a MYR6 billion ($1.33 billion ) commitment over five years. According to the statement, Dana Impak is a key pillar under Khazanah’s Advancing Malaysia strategy, seeking to invest across six themes based on issues and challenges facing the nation, that include digital society and technology, quality health and education for all, decent work and social mobility, food and energy security, building climate resilience and competing in global markets. The Future Malaysia Program initiative marks a milestone for Dana Impak in increasing Malaysia’s economic competitiveness and in building national resilience, while delivering socioeconomic benefits and impact to Malaysians. In line with the Malaysia MADANI Budget 2023, Khazanah is committed to playing an integral role, along with other government-linked investment companies (GLICs), in funding high-growth start-ups in Malaysia to spur innovation and economic growth in the country. “We begin with the start-up ecosystem, which is an essential source of entrepreneurship, employment, innovation, and investment for the nation,” said Khazanah’s Managing Director Amirul Feisal Wan Zahir. Many potential solutions to the challenges we have identified under the Dana Impak themes are found in early-stage companies, which requires injection of risk capital at different stages of the venture, to scale innovation and business, he said. According to him, the program also aims to drive strategic corporate collaborations within Malaysia’s venture capital ecosystem to foster sharing of ideas and enhance business value in a more holistic way. The Future Malaysia Program aims to deploy an initial amount of approximately MYR180 million ($39.96 million) by working with established local and international venture capital managers as well as corporate venture programs based in Malaysia. By addressing the Dana Impak themes of digital society and technology and competing in global markets, the Future Malaysia Program will augment Khazanah’s efforts in discovering and nurturing early-stage entrepreneurs and start-ups, providing them with strategic support required to grow. In line with this effort, Khazanah is has also announced its partnership with venture capital funds – Gobi Partners, a pan-Asian venture capital manager, and 500 Global, an international venture capital manager. Both are among the most active venture capital managers with an extensive investing track record and expertise for value creation in Malaysia, said Khazanah. It also said their international footprint and network acts as a bridge to crowd-in regional venture funds to invest in Malaysian companies, and for Malaysian start-ups to expand internationally, with the anticipation of becoming regional“We are thrilled to support Khazanah in delivering its Dana Impak mandate for the country,“As a firm that is also headquartered in Kuala Lumpur and has invested in over 350 companies globally, we look forward to helping expand the Malaysian start-up ecosystem and create long-term societal value through our collaboration,” said Thomas G. Tsao, Co-Founder of Gobi Partners. Khailee Ng, Managing Partner of 500 Global, said impact is part of the venture capital DNA. “Many of the megatrends that 500 Global is investing in today – financial inclusion, digitalisation, access to healthcare and education, and sustainable cities, are aligned with Dana Impak’s key themes,“Our current global economic climate makes it very clear that our future needs rebuilding, and it is a privilege to partner with Khazanah to push innovation, serve the underserved, and uplift Malaysia’s economy and communities,” he added. On the corporate collaboration front, Khazanah came on board as a corporate partner for the Petronas FutureTech 3.0 technology accelerator program. The program is aligned with our purpose to foster collaboration between corporates and the tech-driven start-up ecosystem by unlocking synergies and enhancing business value which leverages on cross-industries expertise. In addition, Khazanah is also establishing a partnership with Plug and Play, a leading global innovation platform that connects start-ups, corporations, venture capital firms, universities, and government agencies. The focus of the partnership is to set up a Malaysia-based corporate innovation and accelerator program involving leading Malaysian corporates. CelcomDigi Berhad, a key associate of Axiata Group Berhad and one of Khazanah’s portfolio companies, has also signed up as an anchor partner of the program and will be driving the initiative via CelcomDigi’s Innovation Centre. “The partnership will open access to leading international and domestic enterprise-focused start- ups where Malaysian corporates are able to explore and match technology and ideas with their innovation needs, while lowering risks related to corporate ventures,” said Amirul Feisal. Jupe Tan, Managing Partner of Plug and Play Asia Pacific (APAC), said the firm is delighted to have Malaysia be part of Plug and Play’s global innovation ecosystem. “Partnering with Khazanah is a great start to our journey in the country and we look forward to supporting Malaysian corporations in their innovation journey,” he added. As part of the Future Malaysia Program, Khazanah will continue to identify venture capital managers and ecosystem players with proven track record, expertise, and complementary strategic value proposition as potential partners. Together with its partners, Khazanah said it aims to scale Malaysian ideas and businesses to be internationally competitive by deploying capital through its partners as well as directly into companies with sustainable business models that hopes to deliver socioeconomic impact and benefits to Malaysia. Malaysia’s Khazanah launches sustainability framework & targets |
https://technode.global/2023/03/16/rhb-xcelerator-program-announces-11-finalists/ | RHB Xcelerator program announces 11 finalists | 37 | The 1337 Ventures said in a statement on Thursday, the RHB Xcelerator program aimed at nurturing tech and startup ecosystems while driving digital adoption in the Malaysian financial scene. From sustainability and data intelligence to inheritance planning, it said the top finalists are solving some of the biggest problems and opportunities in the financial scene today. “RHB is pleased to witness many innovative startups of high calibre at the pitch event. We are thrilled to be taking things to the next level, especially to future-proof these 11 shortlisted startups which have caught our attention and represent a niche and compelling segment in Malaysia,“We believe that there is enormous potential for future collaboration and joint success,” said Ryan Teoh, Chief Group Strategy and Innovation Officer, RHB Banking Group. “The startups in RHB Xcelerator had an incredible opportunity to collaborate with RHB teams across a range of divisions, and we are excited to see the possible outcome that may result from these synergies,” he added. Bikesh Lakhmichand, Chief Executive Officer and Founding Partner of 1337 Ventures, said this is the beginning of what the firm hopes will be a long and fruitful partnership between startups and corporations. “We believe that by fostering these interactions, we can create even better opportunities for innovation and growth in the startup ecosystem,” he added. According to the statement, the 11 finalists are currently designing their proof of concept, assisted by RHB and 1337 Ventures. After completion, the chosen startups may have the chance to work with RHB to advance their proof of concept and at the same time, may receive prospective financial support1337 Ventures is an early-stage VC firm focused on pre-seed and seed-stage investments in Malaysia and South East Asia. Established in 2012, the firm is Malaysia’s first accelerator program. Pioneering the Design Thinking Methodology and Design Sprints in Malaysia, 1337 Ventures has utilised its learning to accelerate the growth of over 1,000+ startups from five different countries. The firm has launched accelerators for multinational corporations (MNCs) and government linked companies (GLCs) such as FWD, NTIS, Bank Negara Malaysia, Khazanah Nasional, Telekom, Digi, MDEC, CIMB, RHB, and Maybank, to name a few. Its sister company, Leet Capital, is an equity crowdfunding (ECF) platform. Leet Academy, its education arm, focuses to empower, educate and build resilient individuals through a series of workshops, mentorships, and networking events in the areas of design thinking, pitching and agile ways of work. The 11 startups are:Agiliux Cloud InsuranceAlfie Tech AsiaDu-itMobyPayReconPewarisanProtos LabsSwipeyThe Woke CompanyTrinityEcoVircleGRAB-Singtel, Axiata’s Boost-RHB, Sea Ltd-YTL, AEON Credit consortiums among winners of Malaysia digital banking licenses |
https://technode.global/2023/03/15/maybank-introduces-financing-solution-for-electric-vehicle/ | Malaysia’s largest lender Maybank introduces financing solution for electric vehicle | 37 | MaybankThe bank said in a statement on Tuesday the financing solution covers various aspects of owning an EV or hybrid vehicle including holistic financing solutions, insurance and takaful coverage as well as EV charging privileges. It said the move is in line with the group’s aspiration to become the sustainability leader in the region by fulfilling its commitments of mobilising a recently revised target of MYR80 billion ($18 billion) in sustainable financing to customers by 2025 as well as achieving a carbon neutral position by 2030. Maybank Community Financial Services Group Chief Executive Oficer John Chong said that this offering is timely and showcases the group’s strong commitment to sustainability and at the same time catering to the evolving needs of customers as they become increasingly more environmentally conscious. “Apart from that, our initiative is also in support of the government’s vision of growing the EV market share to 38 percent by 2040 through the Low Carbon Nation Aspiration under the National Energy Policy 2022-2040,” he said. Maybank Islamic meanwhile, will become the country’s first financial provider to embark on the EV charging infrastructure landscape having installed EV charging stations at Dataran Maybank, the Kuala Lumpur Golf & Country Club and Mandarin Oriental Hotel in Kuala Lumpur respectively. In addition to this, Maybank Islamic is targeting to install several more EV charging stations within the Klang Valley and other states in peninsular Malaysia by December 2024 to help further strengthen the ecosystem and promote the usage of EV and hybrid cars. Maybank Islamic Chief Executive Officer Mohamed Rafique Merican said that this is part of the bank’s efforts to encourage adoption of EVs while making more charging stations readily available for the convenience of EV owners. Furthermore, he said customers can enjoy various rewards and benefits from Maybank Islamic’s EV financing membership programme, InCharge, which provides customers with rebates when utilising charging stations owned by Maybank Islamic and all other charging stations through the ParkEasy app. “Our ultimate goal is to create a positive impact to the environment and society, and in line with the Group’s mission to Humanise Financial Services, Maybank Islamic will allocate proceeds collected from the usage of the EV charging stations to fund identified social impact initiatives,” he added. Maybank recently hosted an EV driving experience event with Auto Bavaria – its first collaboration with a financial institution, showcasing two new EV models namely the BMW iX40 Sport which is currently available in the market and the BMW i7 which will be made available to the public in the third quarter of 2023. The event also provided the public with an opportunity to gain more insights on Maybank’s integrated financing solution, the car’s features as well as experience demonstrations on charging an EV. On the insurance front, Etiqa had previously introduced Malaysia’s first insurance and takaful coverage for EV Home Chargers in October last year. The coverage is available as a complimentary add-on to the Etiqa private car policy or certificate for newly registered battery-powered Electric Vehicles (BEV) or Plug-in Hybrid Electric Vehicles (PHEV). Alternatively, a standalone coverage for EV home chargers under the All Risk Insurance and Takaful plan is also available for EV owners who have purchased the EV home wall charger separately from their new motor insurance and takaful. Fitch Solutions sees passenger EV sales in Malaysia to expand rapidly in 2023 |
https://technode.global/2023/03/15/ihh-healthcare-invests-in-digital-mental-health-company-intellect/ | IHH Healthcare invests in digital mental health company Intellect | 37 | IHH HealthcareIHH said in a statement the move is to further expand its continuum of care for patients, corporate clients and employees and catalyse a healthier society for all. The investment will accelerate Intellect’s growth across the region. Since it was founded in 2019, Intellect has grown exponentially in recent years to serve more than 3 million users in over 20 countries on its platform, including Malaysia, Singapore, India and Hong Kong. Its end-to-end mental health services include telehealth coaching, clinical therapy, psychiatry, self-guided cognitive behavioural therapy-based programmes, urgent distress support, and mental health screening – all done either virtually via the Intellect platform or in-person at an Intellect clinic. It focuses primarily on enterprise companies and their employees, and also serves individual consumers. As a strategic investor, IHH will co-develop and customise digital mental health programmes with Intellect for its patients, corporate clients, and staff. In a pilot initiative, maternity patients from Gleneagles Hospital Singapore will be among the first from the IHH network to enjoy Intellect’s offerings. There are also plans to extend Intellect’s solution to corporate clients of IHH Singapore’s iXchange and to IHH employees. “Our aspiration to care. For Good. at IHH has led us to this partnership with Intellect to provide mental health offerings to our patients, corporate clients, and employees, towards building a healthier world,” said Ashok Pandit, Group Chief Strategy & Business Development Officer of IHH Healthcare. “Mental and physical health are equally important components of total well-being. Mental health issues affect one in every four persons, “We are pleased to invest in Intellect, a market leader in this rapidly growing category, to boost their growth and enhance access to millions more people who require support, care or treatment,” he added. Theodoric Chew, Co-Founder and Chief Executive Officer of Intellect, said the firm is truly excited to be partnering with IHH to form what they believe will be a game changer alliance to effectively transform mental health care across Asia. “Our mission to scale mental healthcare accessibly to everyone, everyday, will be significantly enabled through this partnership, combining IHH’s global healthcare network with our technology and mental health focus,” he said. The cost of treating mental issues is expected to reach around $6 trillion globally by 2030. Within the Asia Pacific, the digital mental health market for business-to-business alone is projected to grow from $3.1 billion in 2021 to $8.5 billion by 2026, with increasing demand from corporates, insurers and consumers. IHH’s growing number of Innovation investments is in line with its aspiration to Care. For Good. By expanding its capabilities beyond acute care to holistic care and wellness, IHH aims to extend its continuum of services and build a thriving healthcare ecosystem that provides seamless, convenient care through various cutting-edge healthcare technology solutions, medtech services and telehealth platforms. IHH is the first strategic healthcare investor in Intellect, which also has the backing of established investors and venture funds. Intellect raised a $20 milion Series A funding round in 2022, led by Tiger Global, and counts many leading investors as backers including Y Combinator, Insignia Ventures, HOF Capital, MS&AD Ventures, Singtel Innov8, K3 Ventures, East Ventures, and many more. Singapore medtech firm Us2. ai raises $15M Series A funding led by IHH Healthcare and Heal Partners |
https://technode.global/2023/03/14/futurise-teams-up-with-caam-to-advance-malaysian-urban-air-mobility/ | Futurise teams up with CAAM to advance Malaysian urban air mobility | 38 | Futurise Sdn Bhd (Futurise)Announced during the RegTalk series under the theme “Advanced Air Mobility (AAM) & Certified UAS Regulatory Challenges”, the certification and regulatory sandbox hopes to balance public safety with industry needs, both parties said in a statement. The initiatives are also aimed at facilitating a conducive environment while enabling active and unhindered cultivation of innovative air mobility solutions to pave the way for Malaysian smart mobility. Manned eVTOL NRS on C-UAS will ensure all UAS operating within the sandbox meets all regulatory standards as set by CAAM, an essential requirement to certify that all UAS that are to be deployed during testing are operated under equivalent safety standards. In his opening remarks, Malaysian Deputy Transport Minister, Haji Hasbi said that collaborative efforts such as C-UAS and the Manned eVTOL NRS are prime examples of how key ecosystem players can band together to truly transform the industry and level the playing field for local drone technology companies. “While our nation’s drone industry has made great strides in recent years, we cannot rest on our laurels. There remains more to be done. We must foster a collaborative ecosystem and take catalytic steps to fulfil our nation’s aspirations of becoming a key player in the global drone industry and an ASEAN drone hub, “I laud, encourage, and hope to see the forging of more dynamic collaborative efforts that will lay the building blocks to create a thriving urban air mobility landscape for Malaysia,” he said. The Deputy Transport Minister also shared that these initiatives will further reinforce the government’s national agenda to support the UAS ecosystem and will increase Malaysia’s economic impact. Rosihan Zain Baharudin, chief executive officer of Futurise said that these new initiatives will remove a lot of the red tape which will enable more companies to introduce their solutions without excessive curtailing. “We are excited to be working with MOT and CAAM to design a conducive ecosystem that will fast-track Malaysia’s drone industry,“Safety remains a priority and with C-UAS and the Manned eVTOL NRS, we will be able to better foster the creation of world-class applications of drone technology without having the sandbox participating companies’ future-first ideas stymied, all while ensuring the safety of the public,” he said He also said that it is important for Malaysia to look at AAM given the potential benefits for businesses and society as it promises to move people and cargo more quickly, safely and quietly as compared to helicopters. “Furthermore, AAM is also expected to reduce traffic or ground congestion resulting in a low carbon footprint for the overall environment,” he added. Chief Executive Officer of CAAM, Captain Norazman Mahmud shared with today’s technological advancements and cutting-edge innovations, regulatory buy-in and leeway for experimentation are mission-critical. “By breaking down quite a bit of the policy barriers and instating ones that are forward-thinking, we will be able to see more home-grown solutions take flight, “This will help our local drone industry gain momentum and simultaneously allow us as a nation to benefit from an increase in drone technology implementation across varied industries,” he added. The CAAM is a regulatory body that is responsible to ensure efficient management of the safety and security of the civil aviation industry. Its roles are to enable the growth of the aviation industry, regulate, oversee, and promote safety in the industry, provide air navigation services, and to ensure that the national and international obligations of Malaysia in matters relating to civil aviation are carried out to comply with international safety and security standards. Futurise is a wholly-owned subsidiary of Cyberview Sdn Bhd under the Ministry of Finance. Futurise is mandated by the government of Malaysia to manage the National Regulatory Sandbox. The firm provides public policy advisory, acting as a key enabler of regulatory solutions to expedite innovation and future-proof Malaysia’s economy. KPMG joins MDEC to grow Malaysia’s next generation of unicorns |
https://technode.global/2023/03/13/richard-lis-fwd-filing-hk-ipo-application-again-report/ | Richard Li’s FWD filing HK IPO application again – report | 38 | FWD Group Holdings LtdThe company resubmitted listing documents with updated financial data Monday, confirming an earlier According to the report, the IPO, whose proceeds will be used to fuel the firm’s growth, could come as soon as in the second quarter depending on market conditions. FWD was initially looking to go public in the US, where it had filed for an IPO that could have raised as much as $3 billion in 2021, according to Deliberations for the IPO are ongoing and details such as the size and timing could change, the people reportedly said. A representative for FWD declined to comment. Last month,The transaction is expected to close in the second quarter of 2023, FWD said in a statement then. FWD Group, and other investors, will together hold an effective 70 percent stake in Gibraltar BSN, which was sold by The Prudential Insurance Company of America, the wholly owned subsidiary of US-based NYSE-listed Prudential Financial, Inc. (PFI). Bank Simpanan Nasional (BSN) will continue to hold the remaining 30 percent stake ownership in Gibraltar BSN. Post-completion, FWD Group will partner with BSN to further develop and grow Gibraltar BSN. Founded 10 years ago, FWD has expanded across Asia both organically and via acquisitions. It counts more than 10 million customers across markets in the region. Earlier in 2019, it acquired the life insurance operations of Thailand’s Siam Commercial Bank Pcl for about $3 billion. FWD to enter Malaysian life insurance market with strategic investment in Gibraltar BSN |
https://technode.global/2023/03/13/beyond-expo-back-in-macao-for-2023-to-see-technology-redefined-in-one-of-asias-biggest-tech-events/ | BEYOND Expo Back in Macao for 2023 to See “Technology Redefined” in one of Asia’s Biggest Tech Events | 38 | MACAO, March 13, 2023BEYOND Expo 2023 will focus on three key areas: BEYOND Sustainability, BEYOND Healthcare, and BEYOND ConsumerTech, facilitating the exchange of ideas to promote comprehensive industrial modernization, development, and transformation through global technological innovation. BEYOND SustainabilityBEYOND HealthcareBEYOND ConsumerTechThe BEYOND ExpoTo be held on May 10 right after the opening ceremony, the New Product Launch Event has been conceptualized with the best visibility in mind, with the largest display stands and the best resource allocation for participating companies, equipped with ultra-clear LED screens and multiple camera angles for viewing by global media. This empowers exhibitors to highlight the details of their product offerings so that potential partners and buyers can have a better view and understanding of their design concepts. BEYOND is working with the following international community partnersThe following international media partners will be covering BEYOND ExpoThe following Chinese media partners will be covering BEYOND ExpoWe shall be updating the list as more partners come on board. The BEYOND Organizing Committee will also actively promote the event through online and offline channels, including a large billboard at the exhibition area. BEYOND’s official website, app, and social media platforms (LinkedIn, Twitter, YouTube, WeChat, Weibo, Jitterbug, etc. ) will also carry out announcements, live broadcasts, and reports. Scan the QR code to register. Leading up to BEYOND Expo, BEYOND will also have a roadshow across Southeast Asia, with Event detailsRSVP now by scanning this QR code (limited slots):Since 2020, BEYOND Expo has held two successful events, growing to be one of the largest and most influential technology expositions in Asia, attracting 800+ exhibitors and 55,000+ attendees worldwide. Running more than 150 industry forums with 500+ business leaders as speakers, BEYOND Expo provides a global platform for insightful technology exchange. BEYOND Expo will be held at the Venetian Macao Convention and Exhibition Center, which is spread across approximately 100,000 sqm and can accommodate more than 1,000 exhibitors. We expect Fortune 500 corporates, large multinational enterprises, tech unicorns, and startups to participate in this year’s event. There will be more than 100 events and networking sessions at BEYOND Expo. We look forward to connecting with global tech innovation enthusiasts and facilitating in-depth interaction across all fields, including enterprise, product, capital, and industries, to promote the global tech scene in the Asia-Pacific region and across the world. |
https://technode.global/2023/03/10/visa-partners-ghl-to-offer-consumers-instalment-options-for-in-store-purchases-in-malaysia/ | Visa partners GHL to offer consumers instalment options for in-store purchases in Malaysia | 38 | Global digital payments firm Visa said in a statement that its instalment payment solution turns already approved issuer credit lines into buy-now-pay-later payment options at checkout for Visa cardholders. Visa cardholders can now conveniently pay for their purchases in equal monthly payments at more than 3,000 participating merchant outlets featuring fashion, jewellery and electronic local and global brands. Visa said this is timely given that Buy Now Pay Later (BNPL) solutions are gaining popularity in the country. Cited the latest edition of Visa’s Consumer Payment Attitudes Study, Visa said at least two thirds (87 percent) of Malaysian consumers use BNPL for their shopping purchases. The COVID-19 pandemic has impacted the spending patterns of consumers, who are tracking their expenses more closely, saving money for the future, and setting aside bigger budgets for essential items. Based on the study, consumers cited ease of use (54 percent), not needing physical credit cards to make payments (47 percent), and no processing fees (45 percent) as top drivers for using BNPL solutions. “As we move forward towards a digital-focused future, it is important that we continue to create products and solutions that meet the needs of our consumers and merchants,” said Amitoj Sawhney, Head of Products for Regional Southeast Asia. “We’re thrilled to partner with GHL again, this time for in-store merchants, after the first rollout of Visa Instalments for eCommerce purchases,“The introduction of Visa Instalments for in-store purchases reinforces our commitment towards providing innovative, convenient and secure payment solutions for our valued cardholders,” he added. Kevin Lee, GHL Malaysia’s Chief Executive Officer, said that the group’s expanded partnership with Visa underscores its“This partnership not only enhances the consumers’ accessibility to financial services but also help our merchants to increase conversion rates by providing flexible payment options,” he added. Existing GHL merchants who have enabled Visa Instalments for in-store purchases include Mentari Unggul Optic, Spex Optic Group, Boston Time Square Sdn Bhd, Glories Gadget, E Spec Boutique, and other small and medium-sized enterprise (SME) merchants. Visa is the world’s leader in digital payments. Its mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to thrive. Its advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. GHL is the leading payment acquirer in ASEAN for over 100 global and regional payment schemes and channels, processing over MYR1.5 billion ($330 million) payment transactions per month. The firm is also a Bursa Malaysia listed company since 2003, and is Malaysia’s largest prepaid credit top up and bill collection network. The firm aspires to catalyse sustainable livelihood of the micro small medium entrepreneurs (MSMEs) through financial and non-financial value-added services. Touch ‘n Go partners Visa to launch Touch ‘n Go Visa prepaid card in Malaysia |
https://technode.global/2023/03/08/malaysia-introduces-initiatives-to-ensure-local-startups-will-have-access-to-later-stage-financing/ | Malaysia introduces initiatives to ensure local startups will have access to later stage financing | 38 | Malaysia has introduced several initiatives to ensure its homegrown startups will have access to later stage financing in the country so they do not need to seek listing abroad, said Prime Minister Anwar Ibrahim. “I had the opportunity of meeting various successful homegrown startups such as [used car platform]Towards this, he said government-linked investment companies (GLICs) will set aside MYR1.5 billion ($332.7 million) in 2023 to invest in such homegrown startups; a tax deduction will be provided on listing costs for companies listing on ACE market, LEAP market as well as technology stocks onto the Main Board of the local exchange; and listed companies will be allowed issuance of dual class shares. “We certainly want to ensure that successful startups will have access to later stage financing here in Malaysia, so that they do not need to seek listing abroad,” Anwar, who is also the Finance Minister, added. The venture capital and tech startups fraternity has always pointed out the access to funding, especially later stage funding, as one of the reasons Malaysia is losing some of its homegrown tech startups and talents to neighboring Singapore, which has a better-developed ecosystem for start-up funding that helps attract international financiers and bring higher valuations for their public offerings. Malaysia-born tech unicorn Malaysia-headquartered Carsome, which is also the country’s first tech unicorn, was said to be seeking to go public through a dual listing on NASDAQ and the Singapore Stock Exchange that would value the company at around $2 billion. Meanwhile, Malaysian stock exchange’s move to allow listed companies to issue dual-class shares also came after neighboring Indonesia introduce a similar initiative in 2021 in a bid to boost tech IPOs on Indonesia Stock Exchange (IDX). Under a dual-class shares framework, certain shares have more voting rights than others, allowing holders, usually the company’s founders, to retain directional control of their company. It is also a common practice among tech startups in the US, according to earlier reports. Allaying concerns that the government’s move to impose capital gains tax will deter investments, Anwar said the tax will only be finalized upon extensive engagement with stakeholders. “I would like to give you the government’s commitment that: – First, the tax will only be finalized upon extensive engagement with stakeholders; – Second, the tax will not be introduced on listed shares; and – Third, the disposal of unlisted shares for an approved Initial Public Offering will also not be subject to capital gains tax,” he said. Meanwhile, launched in December last year, the Bursa Carbon Exchange is a vital catalyst in the acceleration towards a net-zero future. It is also the first exchange in the world to receive a Shariah pronouncement for its Carbon Exchange. To support the national journey to achieve Net Zero as early as 2050, the prime minister also announced that the government is committing to a seed fund amounting to MYR10 million ($2.21 million) to act as an assured demand of Malaysian-generated carbon credits to kickstart the market. On Environmental, Social, and Governance (ESG)-related policies, Malaysia also seeks to accelerate the transition and transformation of industries and local players towards ESG adoption, even for small and medium enterprises (SMEs). For example, through Ministry of International Trade and Industry, Anwar said consultation and engagement with local and international stakeholders is ongoing to develop the National ESG framework for the manufacturing sector by 2024. Bursa Malaysia, working with the London Stock Exchange Group (LSEG), will be rolling out a Centralized Sustainability Reporting platform next month, according to Anwar. This will enable companies, both public listed companies as well as non-listed SMEs, to calculate their carbon emissions impact. It will also help them to disclose standardized common ESG data in a way that conforms to established global standards. “This platform has the potential to be a key enabler to Malaysia’s pivot to green, and to support our sustainable development, while creating high skill jobs for our progress towards a high income nation,” he added. AWS to launch infrastructure region in Malaysia; plans to invest $6 billion by 2037 |
https://technode.global/2023/03/08/catcha-digital-completes-acquisition-of-imedia/ | Catcha Digital completes acquisition of iMedia | 38 | Catcha Digital Berhad (Catcha Digital)This acquisition was preceded by the appointments of a new Group Chief Executive Officer on January 2, 2023 and a new Chairman on March 1, 2023, Catcha Digital said in a statement. According to the statement, Catcha Digital now owns fast-growing integrated digital media solutions provider, with an extensive portfolio of digital marketing platforms, reaching 12.7 million Malaysians in June 2022 and services over 100 brands spanning across various industries. In FYE2021, despite volatile market conditions, iMedia Group recorded a profit before tax of MYR6.07 million ($1.34 million) and profit after tax and minority interest (PATAMI) of MYR3.66 million ($810,000). The group expects to achieve better profitability for FYE 2022. “I have worked with the team behind iMedia for over 20 years and I am confident that the integration of the vast reach and capabilities of iMedia will accelerate Catcha Digital to be at the forefront of the digital media arena in Malaysia and then Southeast Asia, “The tremendous growth in profit over the last financial year shows that the team and strategy are executing the strategic plan exceptionally well”, said Patrick YKin Grove, Chairman of Catcha Digital. Voon Tze Khay, Co-Founder and Chief Executive Officer of iMedia, said :“We are very excited to build on our extensive experience in the digital media space and continue to offer comprehensive and integrated digital media solutions to all clients as they embark on their digital transformation journey. ” “We will continue to partner with, invest in and acquire synergistic digital businesses to strengthen our ecosystem of products and solutions, “The closing of this transaction represents a new chapter in the iMedia journey, and we believe the best is yet to come,” he added. Upon the completion of the regularisation plan, Catcha Digital will have its GN2 status lifted and will continue to execute its strategic plans and explore new opportunities that will drive its growth in the digital and technology industry in Southeast Asia. The final step of the regularisation plan involves a proposed rights issue which may raise up to MYR41.04 million ($9.07 million). Catcha Digital has secured an undertaking from its major shareholder, Catcha Group to subscribe for a minimum of MYR18 million ($3.98 million) in the proposed rights issue. “We see this acquisition of iMedia as just the beginning of Catcha Digital. We will accelerate our growth and continue pursuing highly accretive investment opportunities that align with our strategic goals, “Our goal is to attract the best digital and software companies to work with us and consolidate our industry to be the leader in Southeast Asia”, said Eric Tan, Chief Executive Officer of Catcha Digital. Catcha Digital is a Malaysia-based investment holding company, focused on operating businesses in the digital media, advertising and software industries. The group’s wholly-owned business, iMedia Asia Sdn Bhd, is a digital media company that provides integrated advertising solutions to major brands in the fast-moving consumer goods (FMCG), retail, property, entertainment and other industries in Malaysia. [Updated] Catcha Group’s Patrick Grove considers SPAC-listing in Singapore |
https://technode.global/2023/03/08/capital-a-signals-growth-plans-with-leadership-transition-in-its-digital-portfolio/ | Capital A signals growth plans with leadership transition in its digital portfolio | 38 | Capital AIn a statement on Tuesday, Capital A also announced that its Head of Investments John Cheing has been appointed as the Chief Financial Officer for airasia Digital and airasia Super App effective 1 March. According to the statement, these leadership transitions are in line with the company’s growth plans to scale up Capital A’s digital business portfolio, which includes its subsidiaries, the airasia Super App, the travel & lifestyle platform and its fintech portfolio BigPay. “As demonstrated in our fourth quarter of 2022 results which showed strong performances in both our super app and our fintech business, we are excited to be launching the next phase of growth in our digital portfolios,” said Tony Fernandes, Chief Executive Officer of Capital A. “I have full confidence in Commercial President of Capital A, Colin Currie to take the Chief Executive Officer role for airasia digital given his past experience of leading adidas to record-breaking growth in the regional market he managed,“He will be heading a competent team to create stronger synergy and a better user experience in travel and payment by forging a closer collaboration between the airasia super app and BigPay platforms for the users within the Capital A ecosystem,” he said. He also noted John’s experience as the Head of Investments for Capital A and his close involvement especially with the strategic planning of airasia super app will also be beneficial in his new role as the Chief Financial Officer for airasia Digital. “Both Colin and John will work closely with me to scale our digital business portfolio up,” he added. Colin Currie, Chief Executive Officer of airasia Digital and President, Commercial of Capital A said he is excited to be guiding airasia digital as it pursues its vision of creating an ecosystem of businesses that connect with our customers in their everyday life bringing them the best of travel, financial and lifestyle services. “We believe that our digital journey has much more room for growth as we aim to become one of the leading travel superapps within Asean and beyond, “I look forward to working with John whose strong financial knowledge and experience will help drive strategic goals, deliver value and ultimately bring our digital businesses to new heights while ensuring we continue to be profitable,” he said. The airasia super app is the one-stop travel, e-commerce and fintech platform business of Capital A offering consumers over 15 lines of products and services via the super app as well as the airasia. com website. Powered by data and technology, the airasia super app leverages its digital ecosystem of 51 million users and 40 million downloads to generate a personalised and seamless consumer experience. Users can also engage in real-time conversations, join like-minded communities, play games and much more. The app covers travel needs to everyday lifestyle essentials. BigPay is a Southeast Asian fintech group founded in 2017. The company is committed to democratizing financial literacy, accessibility, and wellbeing in the region by providing accessible, transparent, simple and secure digital financial services. From payments to international transfers, micro-insurance, personal loans, savings and smart budgeting, BigPay goal is to drive sustainable change for consumers and businesses across Southeast Asia. Malaysia’s Capital A introduces new AI-powered ‘Ask Bo’ chatbot |
https://technode.global/2023/03/03/jaya-grocer-launches-membership-integrated-with-grab/ | Jaya Grocer launches membership program integrated with Grab | 38 | Malaysian premium supermarket chain The membership, which is accessible right on the Grab app, aims to enhance consumers’ overall shopping experience by allowing them to conveniently earn and redeem GrabRewards points at all Jaya Grocer outlets nationwide, Jaya Grocer said in a statement on Friday. Elaborating on the new membership program, Adelene Foo, Chief Executive Officer of Jaya Grocer and Managing Director of Grab Malaysia, said the group’s aim was to leverage Grab’s technology to create a seamless and rewarding experience. “By integrating with an established loyalty program like GrabRewards, consumers not only gain additional opportunities to earn GrabRewards points, but in turn, an additional avenue to use their GrabRewards points,” she said. Moreover, she said with rising concerns surrounding the cost of living, this initiative is part of the group’s commitment to connect Malaysians to affordable and accessible convenience. “Moving forward, we hope to further enhance our Jaya Grocer membership by exploring even more possibilities to add value to the lives of Malaysians,” she added. According to the statement, the new Jaya Grocer membership powered by Grab is the company’s first membership program that aims to reward consumers with loyalty points on every purchase they make at Jaya Grocer outlets nationwide. These will then be accumulated as GrabRewards points and conveniently housed within the Grab app. Jaya Grocer Membership is powered by Grab, offering the same loyalty programme in enabling you to earn GrabRewards Points when consumers shop at Jaya Grocer in-store or via GrabMart. It is noted that the new Jaya Grocer membership is a free membership that is automatically activated when a purchase is made either in-store or on the Grab app. Consumers will earn 0.75 GrabRewards with every MYR1 ($0.22) spent when they pay with cash, credit/debit card or GrabPay. After cashier scans the Jaya Grocer membership barcode, consumers will be asked if they would like to redeem an e-voucher to offset their bill whenever they have sufficient GrabRewards over the cashier counter. Jaya Grocer said it is committed to enhancing the shopping experience for consumers through future membership perks and benefits. Other perks it might be looking into include birthday treats, exclusive event invites, members’ day sales, and much more. “This membership truly highlights the possibilities that can be unlocked when we leverage technology to create synergy between different industries – delivering accessible and affordable convenience to Malaysians,“We’re excited to provide a rewarding experience for consumers, and we hope to further enhance this by exploring even more possibilities to add value to the lives of Malaysians,” concluded Foo. Jaya Grocer is a leading mass-premium supermarket chain in Malaysia. Established in 2007, the supermarket focuses on introducing high quality fresh ingredients, and a wide range of imported goods to households across Malaysia. The company has expanded to more than 40 outlets across Malaysia, including specialty stores such as Korean Grocer. Jaya Grocer aims to provide customers with an elevated shopping experience both in-store and through online channels on GrabMart. Founded in 2012, Grab is Southeast Asia’s leading superapp based on gross merchandise value (GMV) in 2021 in each of food deliveries, mobility and the e-wallets segment of financial services, according to Euromonitor. The firm operates across the deliveries, mobility and digital financial services sectors in over 480 cities in eight countries in the Southeast Asia region – Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Grab enables millions of people each day to access its driver- and merchant-partners to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending, insurance, wealth management and telemedicine, all through a single “everyday everything” app. The Grab app has been downloaded onto millions of mobile devices. Grab to acquire Malaysia-based supermarket chain Jaya Grocer |
https://technode.global/2023/03/02/gobi-partners-and-mavcap-works-with-paywatch-to-address-demand-for-earned-wage-access/ | Gobi Partners and MAVCAP works with Paywatch to address demand for earned wage access | 38 | Gobi Partners, an interconnected Pan-Asian venture capital (VC) firm, has invested in Malaysia Venture Capital Management Berhad (MAVCAP), one of the backers of Superseed II Fund, is also working with Paywatch to support its mission of providing fair financial access for all workers in Malaysia, Paywatch said in a statement. According to the statement, Superseed II Fund is additionally backed by Allianz Malaysia Berhad and Sunway Group. “Our average user may have a bank account, but is denied access to other financial services, and we believe that if you are employed and work hard, you should have equal access to all financial opportunities,” said Alex Kim, Co-Founder and President at Paywatch. Through Paywatch, he said the firm helps employees gain access to low-cost solutions from our partner banks. “We’re proud to have grown from strength to strength – becoming the only bank-backed and regulator approved EWA solution in Asia,” he said. According to him, the firm’s Malaysian clients now range from large brands, such as KFC, Pizza Hut and Lotus’s, to growing brands such as Kenny Hills Bakers and BilaBila Mart. “This funding support will enable us to continue developing new offerings and foster better financial wellbeing for all,” he added. The investment is the latest addition to Paywatch’s recent Pre-Series A funding round. In total, Paywatch has raised $9.5 million in the oversubscribed round, with participating investors including Vanderbilt University, University of Illinois Foundation, Third Prime and Hana Ventures. All of the investment was in equity and the global round included investors from Malaysia, Singapore, US and South Korea. “The Gobi Superseed II Fund supports Malaysia’s most promising startups in their field, and Paywatch’s work around financial inclusion for Malaysia’s low income workforce has been outstanding,“They have proved to be clear frontrunners in the EWA industry, with a strong vision and scalable solution. We’re pleased to have them join our portfolio of successful startups, and are excited to support them as they look to expand not only within Malaysia, but also Southeast Asia,” said Jamaludin Bujang, Gobi Managing Partner (Malaysia). Paramjit Singh Gill, MAVCAP Chief Investment Officer, said that MAVCAP’s mandate has always been to develop local venture capital talents and provide industry changemakers with the support they need to reach their full potential. “Paywatch has been leading the charge in the local EWA industry. We believe this investment will also spur further growth for the Malaysian economy, and look forward to being a partner in their efforts to grow their portfolio of products and accelerate distribution across the country this year,” he added. Paywatch is an earned wage access service provider backed by major banks and recognized by Central Banks and regulators for its commitment to financial inclusion. Working with top banks and employers in each of its markets, the firm serves as a bridge to help employees get banked, start getting credit the right way and find financial security. Paywatch’s EWA solution helps employees access their earned salary instantly. Serving more than 200,000 employees globally, Paywatch hasThe solution has also improved retention rates for both small and medium-sized enterprises (SMEs) and multinational corporations (MNCs) in Malaysia, with businesses that leverage Paywatch reporting reduced turnover rates up to 75 percent, saving over MYR2.1 million ($500,000) in annual rehiring fees. Founded by brothers Richard Kim and Alex Kim, Paywatch aims to provide fair financial access to all employees. The firm operates in South Korea, Malaysia and Hong Kong. Gobi Partners onboards Malaysian startups Durioo+, Lapasar, Paywatch and pitchIN to the Gobi Superseed II Fund |
https://technode.global/2023/03/02/aws-to-launch-infrastructure-region-in-malaysia-plans-to-invest-6-billion-by-2037/ | AWS to launch infrastructure region in Malaysia; plans to invest $6 billion by 2037 | 38 | Amazon Web Services (AWS), an Amazon. com, Inc. company, has on Wednesday announced plans to launch an AWS infrastructure Region in Malaysia. AWS said in a statement that the new AWS Region will give developers, startups, entrepreneurs, and enterprises, as well as government, education, and nonprofit organizations, greater choice for running their applications and serving end users from data centers located in Malaysia. As part of its commitment to the region, AWS is planning to invest $6 billion in Malaysia by 2037. “AWS has committed to the largest international technology investment to date in Malaysia, which will advance our Malaysia Madani vision of a highly skilled, innovative, prosperous, and sustainable economy,” said Datuk Seri Anwar Ibrahim, Prime Minister of Malaysia. “Bringing access to world-class AWS infrastructure, advanced technologies, and cloud skills programs to Malaysia will unlock opportunities for local businesses of all sizes to build and expand globally, cultivate a highly skilled workforce, spur new job creation, and deliver long-term economic growth,“Today’s announcement is a vote of support for Malaysia’s leadership in the global digital economy, and we look forward to deepening our collaboration with AWS to advance our nation’s cloud-first ambitions,” he added. Meanwhile, AWS Infrastructure Services Vice President Prasad Kalyanaraman said the new AWS Region reflects the group’s deep and long-term commitment to customers and organizations in Malaysia, as well as its commitment to serving sizeable and fast-growing demand for cloud services across Southeast Asia. “We are proud to support Malaysia’s digital transformation with the highest levels of security and reliability available on AWS cloud infrastructure,“We look forward to helping Malaysian institutions, startups, and companies deliver cloud-powered applications to fuel economic development across the country and to spur job creation, skills training, and educational opportunities in the communities surrounding our data centers,” he added. The new AWS Region will consist of three Availability Zones at launch, adding to the existing 99 Availability Zones across 31 geographic regions globally. With today’s announcement, AWS has plans to launch 15 more Availability Zones and five more AWS Regions in Canada, Israel, Malaysia, New Zealand, and Thailand. AWS Regions consist of Availability Zones that place infrastructure in separate and distinct geographic locations, with enough distance to significantly reduce the risk of a single event impacting customers’ business continuity, yet near enough to provide low latency for high availability applications that use multiple Availability Zones. Each Availability Zone has independent power, cooling, and physical security and is connected through redundant, ultra-low latency networks. AWS customers focused on high availability can design their applications to run in multiple Availability Zones and across multiple Regions to achieve even greater fault tolerance. The new AWS Region will enable customers with data residency preferences to store data securely in Malaysia, enable customers to achieve even lower latency, and serve demand for cloud services across Southeast Asia. Customers from startups to enterprises to government organizations and nonprofits will be able to use advanced technologies from the world’s leading cloud to drive innovation. AWS also offers the broadest and deepest portfolio of services, including analytics, compute, database, Internet of Things (IoT), machine learning, mobile services, storage, and other cloud technologies. Organizations in Malaysia are among the millions of active customers using AWS in more than 190 countries around the world. Enterprises in Malaysia choose AWS to innovate, drive cost efficiencies, and accelerate time to market-segment. Customers using AWS include Astro Malaysia Berhad, Axiata Group, Bank Islam Malaysia, CelcomDigi, Johor Corporation, PayNet, and Petroliam Nasional Berhad (PETRONAS). Malaysian public sector customers also use AWS to help drive cost savings and better serve local citizens. These customers include Asia Pacific University of Technology & Innovation, BeEducation, Cybersecurity Malaysia, Department of Statistics Malaysia, Ministry of Higher Education Malaysia, Pos Malaysia, and Tenaga Nasional Berhad (TNB). Malaysian startups and small businesses, including Baba Products, Carsome, Omesti Berhad, and StoreHub, are also building their businesses on AWS to rapidly scale nationally and around the world. It is also noted that the AWS Partner Network (APN) includes tens of thousands of independent software vendors (ISVs) and systems integrators (SIs) around the world. AWS Partners build innovative solutions and services on AWS, and the APN helps by providing business, technical, marketing, and go-to-market support to customers. AWS ISVs, SIs, and consulting partners help enterprise and public sector customers migrate to AWS, deploy mission-critical applications, and provide a full range of monitoring, automation, and management services for customers’ cloud environments. Examples of Malaysia-based AWS Partners include Axrail, eCloudvalley, Exabytes, G-AsiaPacific, GHL, Maxis, Radmik Solutions Sdn Bhd, Silverlake Axis, Tapway, Uberfusion, and Wavelet. AWS signs new Cloud Framework Agreement with Malaysia govt to power public sector innovation |
https://technode.global/2023/03/01/malaysias-durioo-raises-2-85m-in-seed-round-led-by-y-combinator-and-gobi-partners/ | Malaysia’s Durioo+ raises $2.85M in seed round led by Y Combinator and Gobi Partners | 39 | Malaysian Islamic-themed streaming service Among the investors are Y Combinator, Uncommon Capital, Gobi Partners, Lynett Capital, New Venture Order (NVO), and Innate Capital, Durioo+ said in a Wednesday. Angel investors consisting of unicorn founders and employees of well-known companies from all over the world, such as Google, Meta, and IQIYI, also partook in the fundraising round. In the next five years, Durioo+ plans to amass a broader viewership base in places such as the United States, the United Kingdom, the Middle East and North Africa (MENA), Indonesia, Europe and other South Asian countries. The platform also aims to enter the global market by creating more content and launching Durioo Games through collaborations with other local and foreign animation studios, production houses, and game companies. Founded in February 2022, Durioo+ was conceived with the idea of providing a safe streaming platform specific to Muslim children. The aim is to produce, co-produce and license entertaining and fun content with good values, virtues, and/or Islamic teachings. As of today, they have more than 22,000 subscribers – both within and outside of the country – and have recorded an average of 39 percent month-over-month (MoM) growth within the past half a year. Investments aside, Durioo+ has signed a total of 27 strategic partnerships with multiple partners encompassing corporates, government agencies, non-government organizations as well as small and medium-sized enterprises. Notably, the company’s partnership with Unifi TV. Unifi TV will be offering Durioo+ as part of their largest selection of streaming apps via Unifi Plus Box this Ramadan and RayaTo kickstart this collaboration, all Unifi TV Packs customers can redeem free trials of Durioo+ starting 18 March 2022. Its collaboration with Malaysia Digital Economy Corporation (MDEC) meanwhile, will enable Durioo+ to build and support the country’s digital creative ecosystem. Beyond that, its deals with well-known brands such as TV9, Little Caliph Kindergarten, Institut Jantung Negara and Persatuan Cinta Gaza Malaysia will also help to further strengthen its brand recognition amongst the public. For content, Durioo+ has produced 20 original programmes since its establishment, ranging from entertaining animated cartoons to edutainment live-action content. They have also licensed more than 1,500 episodes from globally-renown shows, such as Baby Shark, Upin & Ipin, and more. “We’ve had a great year for the platform from all points of business, “We are glad that the investors believe in our vision and want to work together with Durioo+ to create this safe digital environment for the children,” said Durioo+ Founder, Sinan Ismail. He is also the creator of billion-view cartoons Omar & Hana and Didi & Friends. “This is just the start and we are really looking forward to reaching the hundred millions of Muslim children all around the world,” he added. MDEC Chief Executive Officer Ts Mahadhir Aziz said MDEC is proud to have supported this innovative platform from the beginning. “With its focus on connecting Malaysian entrepreneurs and businesses with investors and markets, Durioo+ plays a crucial role in driving the growth of our digital economy and ecosystem, “We congratulate Durioo+ on this important milestone and look forward to continuing our partnership to empower even more Malaysian businesses to succeed,” he added. Durioo+ is a streaming platform dedicated for Muslim children. Graduating from the Y Combinator W22 batch in 2022, Durioo+ focuses on producing, co-producing and licensing high-quality, entertaining and Muslim kids-friendly content for Muslim children globally. Launched in Feb 2022, the platform houses more than 1,600 episodes of content (including Durioo+ Originals and licensed content such as Baby Shark) and reaching 20,000 paid subscribers with a 30 percent M-O-M monthly recurring revenue (MRR) growth. Durioo+ aims to hit 100,000 subscribers by 2023 and 1 million subscribers by 2026. Gobi Partners onboards Malaysian startups Durioo+, Lapasar, Paywatch and pitchIN to the Gobi Superseed II Fund |
https://technode.global/2023/03/01/top-five-winners-announced-in-mystartup-pre-accelerator-programme-cohort-2/ | Top five winners announced in MYStartup Pre-Accelerator Program Cohort 2 | 39 | Top five winners have been announced in The five winners are Acxyn, Boom Rocks, Certiify, IHX and Ulalive, MYStartup said in a statement on Tuesday. MYStartup Strategy is a national initiative by the Ministry of Science, Technology and Innovation (MOSTI) and powered by Cradle Fund Sdn Bhd. (Cradle). Having validated MYStartup’s aim to bring positive impact to the Malaysian startup ecosystem, the Pre-Accelerator Programme was exclusively designed for pre-seed and early-stage startups targeted at achieving impactful customer proof points while building and validating ideas and business models. “As we strive to be one of the top startup ecosystems in the region, we will continue to develop our support system especially for startups who are just beginning their journey. ” said Ahmad Kashfi Alwi, Senior Vice President of Ecosystem Development, Cradle. “This stage is the most crucial first step, where startups would need the most care. Through the MYStartup Pre- Accelerator Program, local early-stage startups will have access to a myriad of available resources, such as world-class mentorship, guidance, and funding opportunities to provide them with all the assistance they need, “As we further enrich the Malaysian startup network, we hopeA total of 38 startups across 8 different industries of EdTech, AgTech, Healthtech, global business services, Fintech, FoodTech, manufacturing, digital arts were selected for the Pre-Accelerator programme Cohort 2. Over the five-month duration between October 2022 to February 2023, they were given direct access to MYStartup’s startup resource library, exclusive networking events with MYStartup’s pool of international and local mentors and partnerships, invitations and group visits to innovation hubs, market research access, as well as channels to funding opportunities. Additionally, at the end of the Pre-Accelerator program, the list of post-programme and funding opportunities continue as added perks where startups will be given the chance to leverage on the BEYOND4 (the first Startup Accelerator to be backed by a Funding Programme) Ecosystem with the continuous support of MYStartup in the respective startups’ growth. Startups will be given the opportunity to participate in BEYOND4 Phase 2 Journey which consists of further assistance in startup governance, shared services, comprehensive guidance, and equity crowd funding resources that allow startups extra prospects to procure the necessary funding to accelerate their market-readiness development. Guidance have always been at the forefront of MYStartup’s programs, providing startups with ample opportunity to be noticed by potential investors (local and international), as well as enabling market reach well after the Pre-Accelerator programme has concluded. This inclusion of post-program opportunities guarantees a comprehensive and holistic journey for early- stage startups to increase their rate of success moving forward. Towards the end of Demo Day, the winners of MYStartup’s Pre-Accelerator Programme Cohort 2 were also announced. The top five winning startups are:1. Acxyn, a games economic infrastructure builder that will ease adoption of the decentralized web, and unlock the true economic potential of games, where games will2. Boom Rocks, a virtual and hybrid event platform offered to anyone or any business with a stage to showcase and sell their products live to event attendees.3. Certiify, combats fake certification issues with blockchain-powered certification management solutions.4. IHX, a digital healthcare marketplace.5. Ulalive, a no-code platform that uses personalized video call-to-actions to help businesses acquire leads faster and build a sales pipeline from scratch. These top five startup winners will participate in the exclusive MYStartup Overseas Immersion Programme that allows them the chance to engage and connect with other key players in the industry on an international playing field. Designed to ensure that startups are fully prepared to enter any market for further business expansion, the Overseas Immersion Programme is one of the key highlights of the Pre-Accelerator Programme. Spending three days in True Digital Park in Thailand, the winning startups will be able to gain real-life insights as they connect and engage with a range of potential partners to have impactful conversations on sustaining a business and possibly expanding their businesses to the next level. Beyond that, the opportunity for international research and development (R&D) partnerships, along with market testing, will massively aid these startups in ensuring their offerings fit the demand of users globally. MYStartup, DNB announce winners for MYStartup Hackathon 2022 |
https://technode.global/2023/03/01/miti-approves-teslas-application-to-import-battery-electric-vehicles-into-malaysia/ | Malaysia government approves Tesla’s application to import BEVs into the country | 39 | The Ministry of International Trade & Industry (MITI) In realising this objective, Tesla will establish a head office in Malaysia, introduce Tesla Experience Centres and Tesla Service Centres, and establish its Supercharger network, MITI said in a statement. According to the statement, TESLA’s presence in Malaysia is expected to create skilled and better paying job opportunities for workers in the BEV segment and increase the participation of local companies in the TESLA ecosystem both domestically and globally. “We are pleased by Tesla’s decision to establish its presence in the Electric Vehicle (EV) ecosystem in Malaysia,“This demonstrates Tesla’s confidence in our economic fundamentals and conducive business environment,” said Zafrul Aziz, MITI Minister. “Even as major global brands decide to invest and re-invest in Malaysia, MITI and its agencies will continue to enhance efforts to improve the ease of doing business, while continuously profiling Malaysia as pro-trade, pro-industry and pro-investment, “We will also strategically leverage on our established electrical and electronics ecosystem to make Malaysia the preferred investment destination for technology related to electric mobility,” he added. The entry of TESLA has been facilitated by MITI through the introduction of the BEV Global Leaders initiative which aims to help boost BEV demand in the local market and further promote the development of the entire ecosystem to supportIn addition, the initiative seeks to secure investments from leading global BEV manufacturing companies in Malaysia. Tesla is the first applicant of this initiative by MITI. Indonesia President Jokowi wants Tesla to make cars locally, not just batteries – report |
https://technode.global/2023/03/01/malaysias-krenovator-introduces-ai-coding-assistant-to-accelerate-coding-learning-for-tech-talents/ | Malaysia’s Krenovator introduces AI Coding Assistant to accelerate coding learning for tech talents | 39 | Malaysia-based artificial intelligence (AI) tech talent and placement platform Krenovator Technology said in a statement that the new tool provides users with real-time feedback and suggestions, helping them to improve their coding skills efficiently and effectively. It said it also allows users to create new software at a much faster rate than conventional methods. According to the statement, the intelligent coding assistant is available for users at no charge. Among Abraham’s main capabilities are to assist users in completing unfinished code as well as detect any syntax or semantic errors in a code. “We are thrilled to introduce Abraham to the world. As a provider of coding training, we often receive a high volume of questions from our users,” said Mahadhir Yunus, Chief Executive Officer of Krenovator Technology. “Some of these questions were unique, which made it challenging to provide quick answers, while others were repetitive. These situations have inspired us to create an intelligent and efficient method of learning to code, “Our objective is to offer targeted assistance to developers worldwide so that they can create high-quality and innovative solutions,” he added. Currently, Abraham supports full-stack programming covering 17 popular programming languages and frameworks including frontend, backend, database, API, Angular, DevOps, Flutter, . NET, PHP, Python, Java, and Javascript. Krenovator is working on expanding the list. “We are glad that the work that began in early 2022 to develop Abraham has finally come to fruition now, “Whether it’s a junior coder trying to fix a bug or a senior software engineer wanting to inspect their codes, Abraham can assist 24/7,” said Mahadhir. He sees that Abraham has the potential of becoming the first line support assistance when it comes to coding. Krenovator Technology plans to introduce an enterprise version of the AI coding assistant in the future. The firm’s Tech Talent Platform offers free coding and training modules developed by the company. It has also recently partnered with Coursera to allow users to obtain a certification. The platform currently has more than 3,000 tech talents from Malaysia and Indonesia combined. Founded in 2019, Krenovator Technology is an AI tech talent and placement platform that provides services to two main groups – individuals who want to learn and improve coding skills, and companies looking to hire qualified software developers. The company’s digital platform which was launched in late 2022 has attracted over 3,000 tech talents from Malaysia and Indonesia. So far, the company has also successfully helped more than 200 qualified talents to land a tech job with employers from Malaysia, Singapore, and the United Kingdom. The firm is based in the state of Selangor, Malaysia. Malaysia’s Aerodyne makes strategic investment in Aiviewgroup in Italy |
https://technode.global/2023/03/01/grabfood-introduces-saver-delivery-lowest-delivery-fee-from-the-widest-range-of-restaurants/ | GrabFood Malaysia introduces Saver Delivery – lowest delivery fee from the widest range of restaurants | 39 | GrabFood MalaysiaThis includes expanding the Saver Delivery option to additional cities nationwide beginning today, providing a lower delivery fee option for consumers across the country, Grab said in a statement on Tuesday. “In this current climate, we believe it’s vital to continuously enhance our service, making it even more affordable while catering to the diverse needs of consumers,” said Jiong Jian Tan, Director of Commercial and Deliveries at Grab Malaysia. In addition to having the widest range of restaurants Malaysians love, he said Saver Delivery now allows the firm to offer its lowest delivery fee option nationwide. “We hope that with these enhancements, we’re able to serve even more Malaysians across the country and bring them accessible convenience that suits their lifestyle,” he added. First piloted in November 2022, Saver Delivery is an option whereby users will be able to enjoy delivery fees from as low as MYR1 ($0.22) on the widest range of restaurants on GrabFood in exchange for a slightly longer delivery time. This is done by grouping orders in the same direction a delivery-partner will travel. Therefore, the option is only applicable from eligible merchant-partners, depending on several factors such as time of order and location. Delivery-partners allocated these orders will also be compensated the same as other delivery options. The expansion of Saver Delivery also sees the introduction of the Direct Delivery in the revamped delivery options, which provides a shorter delivery time for consumers who are in a rush to receive their orders. Together with these new options, features such as being able to schedule your order and opt for self pick-up, aims to provide consumers a wide range of convenient options for them to get their meals. By making food delivery more accessible for consumers and catering to varied types of eaters, the revamped delivery options will also benefit our delivery-partners and merchant-partners alike by spurring additional income opportunities. “We are committed to continue enhancing our service to provide value added solutions to all within the ecosystem who depend on the platform, “And through this, we hope that we’re able to safeguard its sustainability – continuing to provide affordable convenience to consumers and as a source of earning opportunity for merchants and delivery-partners” concluded Tan. Grab has liquidity to drive operations, says S&P Global Ratings |
https://technode.global/2023/02/28/mranti-dnb-ericsson-extend-mou-to-boost-technology-clusters-in-mranti-park/ | MRANTI, DNB, Ericsson extend MOU to boost technology clusters in MRANTI Park | 39 | The In 2022, the MoU was signed with the initial goal of preparing MRANTI Park for 5G technology and raising awareness of it in the local community. The renewed MoU will prioritise promoting awareness and adoption of 5G among businesses in Malaysia, with the objective of expediting the implementation of the 5G-enabled STIE agenda, MRANTI said in a statement. Under the extended MoU, the partners will contribute towards the development of MRANTI 5G Experience Center by providing content and support to ensure innovators, researchers, startups and businesses are well equipped on 5G literacy. The 5G Experience Center at MRANTI Park which is expected to be launched in March this year is an exciting new space where visitors can learn about the latest advancements in 5G“At MRANTI Park, we equip innovators, researchers, and businesses with cutting-edge infrastructure and capabilities to drive returns on innovation across the ecosystem, “Through this collaboration, it will strengthen MRANTI’s position as the leading 4IR (the Fourth Industrial Revolution) hub with facilities and resources to support industry growth in dronetech, healthtech, agritech, bioscience and 4IR enabling technologies,” said Dzuleira Abu Bakar, Chief Executive Officer of MRANTI. Dzuleira added that as a result of the collaboration last year, MRANTI Park has successfully become 5G ready, with download speeds more than 600Mbps. “The partners have also worked together last year, to deliver physical and digital 5G engagements with MRANTI innovators and community, specifically during MRANTI 5G Open Day and National Science Week. ” she said. This year, MRANTI together with DNB and Ericsson have agreed to extend their partnership with the shared goal of fast-tracking the integration of 5G technology into businesses. “Specifically, we aim to accelerate the commercialisation of STIE-related innovations enabled by 5G, “In the upcoming year, the partners are planning to facilitate more targeted discussions and interactions with innovators, as well as opening our 5G experience center to businesses,” added Dzuleira. According to the statement, this partnership is poised to draw a large cohort of innovators to the park, allowing them to develop 5G applications that may be further refined and tested at MRANTI Park. Moving forward, MRANTI, DNB and Ericsson will continue to work closely on the planning and implementation of 5G infrastructure, as well as the facilitation of knowledge-sharing sessions on 5G technology and related capabilities. This cooperation is evidence of support to MRANTI’s aim to create an on-campus 5G experience centre for its innovation clusters and the development of its 5G use cases and experiences. “With DNB having delivered 5G coverage to MRANTI Park over the last year, I am hopeful that businesses in the area can now leverage the ultrafast and low latency connectivity to develop new and exciting 5G-enabled products and services,“DNB will continue to support Malaysia’s digital economy aspirations by deploying Malaysia’s 5G network and infrastructure on an accelerated schedule,” said Nasution Mohamed, Chief Operating Officer of DNB. Head of Ericsson Malaysia, Sri Lanka and Bangladesh David Hägerbro said that Ericsson is delighted to continue the collaboration as it is very important to have a thriving ecosystem for 5G to develop its real potential in Malaysia and drive the country’s digital transformation. With the extension of the MoU, he said that Ericsson will be drawing upon its contribution to 5G ecosystems around the world and bring that expertise to Malaysia for the development of local skills and innovation. “This initiative will provide the additional boost for Malaysia to leapfrog in the region and be more competitive by preparing it for greater digitalisation and adoption of 5G enabled technologies such as large numbers of connected devices, real time interactions, artificial intelligence and machine learning,“This MoU extension marks an important milestone in Malaysia’s push towards 5G technology, and the partnership between MRANTI, DNB and Ericsson is expected to accelerate the development of 5G-enabled STIE solutions, driving innovation and growth in various industries,” he added. MRANTI, a convergence of Technology Park Malaysia (TPM Corp) and the Malaysian Global Innovation and Creativity Centre (MaGIC), is Malaysia’s central research commercialisation agency that fast-tracks the development of technology innovations from ideas to impact. MRANTI serves as a connector, incubator and catalyst to enable early-stage ideation to mature entities to commercialise and scale. DNB is a Minister of Finance Inc. company, mandated to deploy Malaysia’s 5G network and infrastructure on an accelerated schedule. DNB will exclusively own, build and manage the 5G network, and provide wholesale 5G services to licensed service providers, as well as infrastructure and technology services to support and enable businesses and government capabilities. Listed on Nasdaq Stockholm and on Nasdaq New York, Ericsson enables communications service providers and enterprises to capture the full value of connectivity. The company’s portfolio spans the following business areas: networks, cloud software and services, enterprise wireless solutions, global communications platform, and technologies and new businesses. New MRANTI Park Master Plan will assist Malaysia in facing Industrial Revolution 4.0, says PM |
https://technode.global/2023/02/27/malaysias-aerodyne-makes-strategic-investment-in-aiviewgroup-in-italy/ | Malaysia’s Aerodyne makes strategic investment in Aiviewgroup in Italy | 39 | Aerodyne GroupBy joining forces, Aiviewgroup and Aerodyne can harness synergies from both their respective areas of expertise and technologies, and bring it to a wider global audience, both parties said in a statement. According to the statement, the Italian commercial drone software and services market alone is projected to grow to $595 million in 2026, making this partnership a strategic move for Aerodyne’s global expansion and technological advancement. Aiviewgroup brings a wealth of expertise in drone solutions, with a track record of servicing high-profile clients in Italy, especially in infrastructure inspection. This makes them an ideal partner for Aerodyne, enabling the company to leverage Aiviewgroup’s advanced expertise in infrastructure inspection and market access to expand its capabilities and global reach. “We’re thrilled to welcome Aiviewgroup to Aerodyne. Through this partnership Aiviewgroup will be able to capitalise on the Aerodyne’s deep and proven track record in drone and data technology for nested drone systems and advanced mobility to expand into new markets, including remote autonomous drone-based solutions, and artificial intelligence-powered analytics which offer better value and scope of services to their customers” said Kamarul A Muhamed, Founder and Group Chief Executive Officer of Aerodyne. He added that this partnership marks Aerodyne’s twenty-first global merger and acquisition. Meanwhile, Aiviewgroup Chief Executive Officer Stefano Gennenzi said partnering with Aerodyne is an exciting opportunity for Aiviewgroup and Aiviewgroup management team will continue to drive the company’s growth. Aiviewgroup General Manager Nicola Marietti said the firm is eager to combine its expertise and local market access with Aerodyne’s global presence and enviable track record of success. “Joining our deep expertise in artificial intelligence and industrial knowledge, we can enhance our drone-based solutions and expand our technology offerings to new markets,“We believe that the synergies between our companies will enable us to deliver even more value to our customers, and develop the most innovative and effective solutions for their needs,” he added. Aerodyne Group is a DT3 (drone tech, data tech, and digital transformation) drone-based enterprise solutions provider, and a pioneer in the use of artificial intelligence as an enablingThe firm employs over 1,000 drone professionals who operate on an unprecedented level in the UAS services sector, having managed more than 560,000 infrastructure assets with 458,058 flight operations and surveyed over 380,000 km of power infrastructure more than 40 countries globally. Aiviewgroup is the Italian leader in unmanned technology operations that combine safety and efficiency. The firm has an experience of more than 10.000 inspections on major infrastructures. It has a significant order portfolio with enterprise customers with multi-year contracts for end to end solution services, from drone operations to data analysis and certified reporting, which also includes training, fleet management and consultancy. Aiviewgroup, with an average annual revenue growth of 27.82 percent over the last three years is among the European Union companies with the greatest economic expansion, according to the German Institute of Quality (ITQF). Malaysia’s Aerodyne acquires controlling stake in Brazil’s drone inspection company Grupo DR1 |
https://technode.global/2023/02/23/malaysia-government-in-talks-with-proton-perodua-to-expedite-production-of-national-evs-report/ | Malaysia government in talks with Proton, Perodua to expedite production of national EVs – report | 39 | The International Trade and Industry Ministry (Miti) of Malaysia is discussing with local carmakers Proton and Perusahaan Otomobil Kedua Sdn Bhd (Perodua) on expediting the production of national electric vehicles (EVs) and introduction of affordable EVs, said its minister Tengku Zafrul Tengku Abdul Aziz. The approved permit guidelines are being improved to give flexibility in terms of the maximum number of completely built-up vehicle imports for market research pre-assembly of EVs so that local assemblers have the opportunity to assess the needs of the new market in the EV segment prior to production, national news agency “This move is also expected to widen the range of EV choices in the market for the people,” Zafrul said in the House of Representatives on Wednesday. Proton, Malaysia’s first national automaker, is 49.9 percent owned by China-based car maker Zhejiang Geely Holding Group. Japan-based car manufacturer Daihatsu is the technological partner of Perodua, Malaysia’s second national carmaker. Daihatsu and Daihatsu (M) Sdn Bhd hold 20 percent and 5 percent stake of Perodua respectively, according to earlier reports. Both local carmakers have yet to produce or introduce EV models in the country. Proton announced Astra Daihatsu Motor, a joint venture between Daihatsu, Astra International and Toyota Tsushohas, has unveiled the Daihatsu Ayla EV Concept at the Gaikindo Indonesia International Auto Show (GIIAS) 2022 in August last year. Earlier on Monday, Deputy International Trade and Industry Minister Liew Chin Tong said Malaysian Green Technology and Climate Change Corporation (MGTC) is currently developing a strategic framework for the development and planning of EV infrastructure across Malaysia. He said the government is also examining the existing procedures for approving the EV charging system to reduce the time in processing the installation approval. Liew also added that under Budget 2022, the government’s incentive covers full exemption on import duty, excise duty and road tax for locally assembled EVs or imported as completely built-up, as well as full exemption for sales tax for EVs assembled locally and tax relief for individuals for subscription of facilities or installation of EV charging systems. “Additional incentives were also proposed under Budget 2023 and, at the same time, there are proposals to increase the number of EVs including hybrid as official vehicles for departments and positions is being fine-tuned by the Finance Ministry. Besides that, the land public transport vehicles are also encouraged to change to vehicles that use electric,” he added. It was reported last year that the Malaysia government’s target to install up to 10,000 public charging stations for electric vehicles (EVs) in the country by 2025 under the Low Carbon Mobility Blueprint 2021-2030 is on track, with around 700 charging stations nationwide having been set up so far, according to the MITI. The EV industry has become one of the hottest sectors among Southeast Asian countries. Often seen as the future of automobile, neighboring countries Indonesia and Thailand has hoped to become EV regional hubs, luring car makers from Japan, South Korea and the US to invest and build factories here. Countries including Malaysia and Vietnam have started to build EV charging infrastructure and governments are implementing policies to promote EV industry in a bid to reduce carbon footprint. Fitch Solutions has anticipated that passenger electric vehicle (EV) sales in Malaysia will expand in 2023, albeit from a low base, as a result of the implementation of incentives to encourage adoption. The research house said in a recent report that according to its projections, sales of passenger EVs will rise by 82 percent in 2023, reaching a volume of roughly 5,840 units annually. As more battery electric vehicles (BEVs) are introduced and give consumers more options, it predicted that plug-in hybrid electric vehicles (PHEVs) will lose market share in 2023. “Since predicted good performance in both PHEVs and BEVs promotes EV adoption, we predict that total EV sales as a percentage of total sales will surpass the 1 percent threshold by 2024,” it said. According to an RHB report last month, besides Tesla, existing and forthcoming EV models in Malaysia are mostly from European, South Korea and China-based marques such as Audi, BMW, BYD, Great Wall Motors, Porsche, among others. Malaysian Government drafting strategic framework to develop EV charging infrastructure – report |
https://technode.global/2023/02/23/100-soonicorns-selects-24-founders-for-its-first-2-cohort/ | 100 Soonicorns selects 24 Founders for its first 2 cohort | 39 | ScaleUp Accelerator Sdn Bhd (ScaleUp Malaysia)Coined from the phrase “soon-to-be unicorns”, Soonicorns are startups with the growth potential to become Unicorns, ScaleUp Malaysia said in a statement on Thursday. The selected Founders are all Chief Executive Officers or C-Level Founders. To participate, invited startups need to have raised at least $1 million from a Venture Capital firm or institutional investor; or have generated $2 million in revenue over the last 12 months. “As a former startup founder and now partner at ScaleUp Malaysia, I understand the immense value of a strong support network and camaraderie in building a hyper growth company,” said Aaron Sarma, Co-Founder and General Partner at ScaleUp Malaysia. According to him, the 100Soonicorns program not only offers invaluable coaching and mentorship, but also creates a unique space for the selected Founders to connect and build relationships with each other. “This sense of community and shared experience will be a crucial factor in the success of the program and its participants, “I’m thrilled to be a part of a program that will help create the next generation of unicorns and further strengthen the bonds among the country’s thriving startup community,” he added. Proficeo Chief Evangelist Sivapalan Vivekarajah said that the 24 Founders have had some really engaging discussions where they shared their own experience and challenges regarding the myriad of issues that they face as they grow their companies from the early stage to Series A stage and beyond. “The program also enables them to engage with other successful Unicorn Founders like Moses Lo the CEO of Xendit who had a session with them to share how he built Xendit into a unicorn, how he raised all his funding from the United States and why he believes Southeast Asia is the next great destination for investors,” he shared. According to the statement, the participants will be engaging with global unicorn founders, venture capitalists, experts from areas that are particularly challenging for founders like talent acquisition and management and will also explore new areas like Artificial Intelligence. All these conversations and discussions offer a unique learning platform between successful Founders and experts. Cohort 3 is now open for applications. Those interested can find more information and the application form here. The participating Founders of the first 2 cohorts are:1 Amanda Chin, CEO, Ablr Malaysia2 Sharma Lachu, CEO & Founder, Accendo Technologies Sdn Bhd3 Ramachandran Muniandy, CEO & Co-Founder, Asia Mobility Technologies Sdn Bhd4 Giden Lim, CEO & Co-Founder, BLOOMTHIS Flora Sdn Bhd5 Benjamin Croc, CEO, Briohr Sdn Bhd6 Ang Xing Xian, CEO, CapBay7 Sharala Devi Balakrishnan, CEO, Center of Applied Data Science (CADS)8 Kuna Kathigesan, Group CEO, Commerce DotAsia Ventures Sdn Bhd9 Lee William, MD, Easybook (M) Sdn Bhd10 Clarence Leong, CEO & Founder, EasyParcel Sdn Bhd11 Suthan Mookaiah, CEO, GASSTN Sdn Bhd12 Muhamad Nasir Habizar, CEO & Founder, Govicle Sdn Bhd13 Effon Khoo, CEO & Founder, Kakitangan. com14 Nadira Yusof, CEO & Founder, Kiddocare Sdn Bhd15 Tunku Danny Nasaifuddin Mudzaffar, CEO & Founder, Microleap PLT16 Azran Osman Rani, CEO, Naluri Hidup Sdn BHd17 Swee Wai Hoow, CEO, Newswav Sdn Bhd18 Keong Chun Chieh, CEO, Ominent Sdn Bhd19 Dr. Kev Lim, CEO, Qmed Asia (QueueMed Healthtech Sdn Bhd)20 Melvin Chee, CEO, RPG Commerce Sdn Bhd21 Parthiven Shanmugan, CEO, TixCarte Sdn Bhd22 Kendrick Tan, COO & Co-Founder, Virtualtech Frontier Sdn Bhd23 Ooi Boon Sheng, CEO, Web Bytes Sdn Bhd24 Low Ziwei, Director & Co-Founder, Zcova Sdn BhdScaleUp Malaysia partners Profiiceo to launch 100 Soonicorns |
https://technode.global/2023/02/22/bintang-capital-invests-in-malaysian-marketing-technolgy-firm-involve-asia/ | Malaysia’s Involve Asia raises over $10M in funding round led by Bintang Capital Partners | 39 | Malaysia-based affiliate marketing platform Involve Asia said in a statement that they are joined by returning globally renowned investors, 500 Global, Orbit Capital Malaysia, and Monumental Productions. As part of Involve’s plans to scale even more rapidly, part of its fundraise will be used to invest in companies that complement its business and leverage its network of clients and partners. In recent years, Involve Asia has established a firm footing with influencers across the region which has driven strong results for advertisers. The company plans to deploy a comprehensive suite of solutions that will increase the avenues for advertisers to leverage on influencers and their highly engaged audience. “We’ve been growing revenue at 132 percent compound annual growth rate (CAGR) since inception while staying profitable,“Despite the recent economic headwinds facing global markets and the tech sector in particular, there is still room for growth in digital advertising across Asia Pacific (APAC), especially with our performance-led approach,” said Jimmy How, Chief Executive Office and Co-Founder of Involve Asia. “With the new funding and our strong fundamentals, we aim to expand our product lines and extend our services to new businesses and partners across the region,” he added. Involve Asia President and Co-Founder Rene E. Menezes said that 2022 marked the firm’s second chapter of aggressive growth. “We’re not sitting around waiting for the global uncertainty to settle. We are in a position to invest and step on the gas while many are focused on consolidation and preserving cash, “A number of industry-changing products are ready to be taken out of beta and will hit the market very soon,” he said. According to him, digital advertising spending in Southeast Asia is expected to grow by 11.3 percent to $4.1 billion in 2022, up from $3.68 billion and at a pace of 12 to 16 percent over the next two years. Additionally, he said companies are increasingly focused on achieving maximum return on investment. “It was reported that Southeast Asia accounted for one of the highest digital ad spend wastage alone in the first quarter of 2022, amounting to $1 billion, “There is always a need for high impact, brand advertising but even more opportunity exists for marketers who adopt Involve Asia’s platform with its focus on risk-free, highly effective returns on marketing budgets,” he added. Involve Asia is also expanding the team in line with its aggressive growth plans and hiring across many roles, with almost 50 positions open especially in business development, project management, product and DevOps. Since May 2022, Involve Asia has made a number of senior hires including digital marketing veteran Rene E. Menezes who was appointed President of Involve Asia to spearhead the commercial growth of the organization. The company also recently brought in Melissa Chan, a veteran marketer to lead the entire brand and marketing efforts of the company. “Bintang is excited to be investing in Involve, we believe the company is well-positioned within Southeast Asia’s fast-growing“We are delighted to back an outstanding team that drives positive social impact by providing opportunities for individuals and small-to-medium-sized marketing companies to harness their networks by partnering with global brands,“This can create new job opportunities and provide economic uplift for individuals in the process,” he added. With an established presence in Southeast Asia, Involve Asia oversees over one million partnerships with over 580,000 website partners, influencers, and affiliates in the region. Over $1.5 billion in sales have been generated with the partnership of our partners and advertisers since its inception. This includes multinationals such as Lazada, Shopee, Grab, Marriott, Malaysia Airlines, Air Asia, Nike, Citibank and over 500 customers across E-commerce, Travel, Finance and Services sectors. Involve Asia is also backed by global venture capital firms such as Accord Ventures, OSK Technology Ventures, and Cradle Seed Ventures. Malaysia marketing tech firm Involve Asia expands to Vietnam |
https://technode.global/2023/02/21/fitch-solutions-sees-malaysias-ev-sales-to-reach-1-of-total-vehicle-sales-by-2024/ | Fitch Solutions sees Malaysia’s EV sales to reach 1 percent of total vehicle sales by 2024 | 40 | Fitch Solutions has on Monday anticipated that passenger electric vehicle (EV) sales in Malaysia will expand in 2023, albeit from a low base, as a result of the implementation of incentives to encourage adoption. The research house said in a report that according to its projections, sales of passenger EVs will rise by 82 percent in 2023, reaching a volume of roughly 5,840 units annually. As more battery electric vehicles (BEVs) are introduced and give consumers more options, it predicted that plug-in hybrid electric vehicles (PHEVs) will lose market share in 2023. “Since predicted good performance in both PHEVs and BEVs promotes EV adoption, we predict that total EV sales as a percentage of total sales will surpass the 1 percent threshold by 2024,” it said. According to the report, Malaysia has unveiled measures to promote and stimulate EV adoption through incentives. A road tax exemption for EVs has now been implemented along with aFurthermore, a 100 percent reduction in import duties on completely built-up EVs lasting up to December 31 2023 has been introduced. It is noted that completely knocked down (CKD) EVs will be eligible for the suspension of duties until December 31 2025 along with sales tax and excise duty exemptions which will further improve the affordability for consumers due to the inherently high taxes on importing vehicles in the country. The report also noted that Volvo Car Malaysia (VCM) has revealed intentions to export automobiles to Vietnam and the Philippines in 2023 in an effort to turn Malaysia into a hub for electric vehicles. With the Swedish brand’s return to the nation (via PT Leading Vision Otomotif), the firm started exporting automobiles to Indonesia in 2022. Meanwhile, Thailand has been on its export list for some time. The XC40 Recharge Pure Electric and C40 Recharge Pure Electric are currently both locally built (CKD) in Shah Alam, Malaysia, with the former debuting first in March 2022 and the latter following in December 2022. Besides, Mercedes-Benz AG has achieved a new milestone in Malaysia in February 2023 with the introduction of its first domestically made EV. At Mercedes-manufacturing Benz’s facility in Pekan, Pahang, the EQS 500 4Matic big car was put together. According to Sagree Sardien, chief executive officer and president of Mercedes-Benz Malaysia, deliveries of the CKD (completely knocked down) EQS 500 4Matic, which stands at the top of the EQ line, will start in March 2023. More EQ models would eventually arrive at the Pekan factory, but Sagree said the next CKD plans hadn’t yet been chosen by the firm. Meanwhile, on January 31, 2023, Proton revealed a draft version of its roadmap, providing an idea of how it intends to move forward. Back in 2021, Proton stated that it will enter the market when the time was appropriate and that it had a planned roadmap for electrification that included hybrid, PHEV, and full BEVs. The report also noted that Ni Hsin EV Tech Sdn Bhd officially unveiled its two TAILG electric motorcycle models in the personal Tailg Ebixon Bold and commercial Tailg Ebixon Torq categories on November 22, 2022, both of which are locally assembled at itsThe BYD Atto 3 and e6 EVs will go on sale in December 2022, with deliveries beginning in Q123. The two EVs are expected to cost between MYR150,000 ($33,500) and MYR170,000 ($38,000). Following the opening of order books and more than 100 bookings on the opening weekend, the Great Wall Motors (GWM) Ora Good Cat electric hatchback has officially launched in Malaysia. The Ora Good Cat is available in Malaysia in two trim levels: 400 Pro and 500 Ultra, with prices starting at MYR139,800 ($31,440) for the 400 Pro and MYR169,800 ($38,200) for the 500 Ultra. Fitch Solutions sees passenger EV sales in Malaysia to expand rapidly in 2023 |
https://technode.global/2023/02/21/princeton-digital-to-invest-1b-for-data-center-campus-in-malaysia-and-indonesia/ | Princeton Digital to invest $1B for data center campus in Malaysia and Indonesia | 40 | Princeton Digital Group (PDG)The firm said in a statement on Monday that it has unveiled its SG+ strategy with the announcement of a 96 MW data center campus in Batam. It said PDG’s SG+ strategy will enable customers to seamlessly expand their infrastructure from Singapore to highly scalable data center campuses in Singapore, Batam and Johor. The announcement of PDG’s data center campus in Batam is the first part of this concerted strategy, where PDG is developing data center sites in Batam and Johor in extension to the company’s operations in Singapore. With an initial investment plan of close to $1 billion, the campus will be built on 15 acres of land in Batam and will comprise four buildings of up to 24 MW capacity each. Power is fully secured for the entire 96 MW capacity. “As a Singapore-headquartered Pan-Asia data center operator, PDG is at the forefront of enabling customers to continue leveraging the unique set of characteristics that have made Singapore such a successful hub for the region,“Our SG+ strategy is aimed at providing a seamless infrastructure growth roadmap for our customers,” said Rangu Salgame, Chairman and Chief Executive Officer of Princeton Digital Group. He also said the new campus in Batam reinforces the company’s growth strategy and solidifies its already strong presence across the region in China, Singapore, India, Indonesia, and Japan. Batam is an island in Indonesia’s Riau Islands Province, just 20 km south of Singapore. PDG’s campus is located within Nongsa Digital Park (NDP), an integrated digital park in Nongsa on the North-Eastern tip of Batam. In June 2021, the Indonesian Government designated Nongsa as a Special Economic Zone for digital economy and tourism. Nongsa and Batam have been described by Indonesian President Joko Widodo as a “digital bridge” between Singapore and Indonesia, as the demand for technology talent, sustainable power, land to develop data centers, and capacity continues to grow. “The climate impact of digital transformation has redefined the way we develop and operate our data centers,“PDG aims to build next-generation, best-in-class green data centers, and we will be working closely with local partners and regulators to incorporate sustainable and renewable energy initiatives to power our Batam data center,” said Asher Ling, Managing Director, Singapore. “Furthermore, we are exploring tropical data center solutions as part of our strategic ESG roadmap towards achieving our net-zero emission goals,” “This is a very exciting time for data center developers as we develop new standards and create benchmarks in sustainability,” he added. Sustainability is a core business focus for PDG. The company’s sustainability strategy is driven by procurement of renewable energy, energy and resource efficiency, green design and construction and technology and innovation. In the second quarter of 2023, the company will release the second edition of its Sustainability Report. “PDG’s investment into Nongsa underscores the growth opportunities that Southeast Asia offers to companies,“Resilient, reliable, and stable infrastructure are key enablers in the digital economy, and PDG’s latest expansion in Nongsa will enhance its capability to meet the growing needs of digital companies seeking to expand in the region,” said Herman Loh, Vice-President & Head, Regional Partnerships, Singapore Economic Development Board. Muhammad Rudi, Chairman of Badan Pengusahaan Batam (BP Batam), Batam Indonesia Free Zone Authority said the firm is happy to work with PDG as they build their 96 MW hyperscale project to provide seamless and stable data center capacity to their customers. “PDG’s investment in Nongsa Digital Park further strengthens the SEZ’s position as a data center hub in the region, “We look forward to working closely with PDG as the company continues to scale as a Pan-Asia leader in digital infrastructure,” he added. Headquartered in Singapore, PDG is a leader in the Asian hyperscaler market. The company launched its 48 MW data center in Mumbai in December 2022 and is expanding rapidly in Asia with a total capacity of 600 MW across a portfolio of 20 data centers in five key markets. Its 100 MW data center in Saitama, Tokyo, is scheduled for completion in 2024. Singapore Management University signs MOU with Kajima to jointly develop the built environment sector and shape future cities |
https://technode.global/2023/02/20/malaysia-almost-doubles-its-drone-readiness-within-one-year/ | Malaysia almost doubles its drone readiness within one year | 40 | Malaysia’s drone industry is flying high after ranking 21st in the Drone Readiness Index (DRI), up from 30th spot last year. Malaysian Research Accelerator for Technology and Innovation (MRANTI)The country’s core readiness for drones improved by 29 percentage points in the DRI, as it hit 60 percent – up from 31 percent the previous year – a clear indicator of the country’s commitment to fast track its potential in drone technology. This puts the drone industry in Malaysia on a clear growth trajectory with the potential to contribute MYR50.71 billion ($11.45 billion) to the country’s gross domestic product (GDP) and create 100,000 job opportunities by 2030. “Our achievement in the DRI is an early outcome of the Malaysia Drone Technology Action Plan 2022 – 2030 (MDTAP30) and other initiatives which involve strong collaboration by multiple agencies and stakeholders,” said MRANTI Chief Executive Officer Dzuleira Abu Bakar. Dzuleira said the MDTAP30 key missions focuses on the development of a national Unmanned Traffic Management (UTM) system, a digital drone registration portal, special drone use-case adoption in key sectors and talent development such as the accreditation of Remote Pilot Training Organizations (RPTO). The yearly DRI updates which are part of Drone Industry Insights (DII)’s annual Drone Regulation Report, rates participating countries on six parameters: applicability, operational scope, human resources, administrative infrastructure, certification, and airspace integration. The report indicated that countries with the strongest increase in drone readiness are the United Kingdom, Brazil, Switzerland, Taiwan, Japan, South Korea, Malaysia and China. Malaysia achieved a 100 percent rating in applicability, human resources and certification, with areas to improve in operational scope (50 percent readiness), airspace integration (40 percent readiness) and administrative infrastructure (25 percent readiness). MRANTI, which is the coordinating agency and secretariat for MDTAP30, had in 2021 also launched Area57, a centre of excellence to boost the drone industry in Malaysia. When completed, the 6-acre Area57 will have facilities for design and simulation, prototype development and manufacturing, services and maintenance workshops, training, as well as testing and certification equipment. In accelerating the growth of Malaysia’s drone industry, the Ministry of Science, Technology and Innovation (MOSTI) has also created the National Technology and Innovation Sandbox (NTIS). The NTIS focuses on the development and testing of technologies in live environments. Through the NTIS, companies can receive support for financing for commercialization, regulatory assistance and market development. In these regards, 25 drone technology applications have been approved for testing in various Sandbox initiatives. Of these, NTIS has provided about MYR10 million ($2.26 million) in funding to 19 Malaysian drone companies from 2020 to 2022. These drone companies offer solutions for a variety of sectors, with the majority being in agriculture, and medical delivery, infrastructure, security surveillance, and others. In these Sandboxes, drones are being tested for a range of applications, including spraying, mapping, plant analysis, and warehousing, among others. The NTIS receives strong support from 50 Innovation Accelerator Network (IAN) partners, including technology giants, conglomerates, and multinationals, to boost the development of Malaysia’s drone industry. In the Drone Services Providers Ranking 2022, also by DII, Malaysia’s Aerodyne Group and Meraque are ranked in the world’s top 20. Aerodyne , ranked number one, has more than 1,000 employees and has collected over $60 million in funding rounds. MRANTI is the one-stop research commercialisation agency with the resources to accelerate the commercialisation of innovative ideas that will drive impact. As a connector, collaborator and catalyst, MRANTI will connect problem statements (demand) with solutions (supply), bridging collaboration between public and private sectors (transition); increase private sector participation, either through market access, investment, advisory or consultation and facilities for testing and prototyping. New MRANTI Park Master Plan will assist Malaysia in facing Industrial Revolution 4.0, says PM |
https://technode.global/2023/02/20/malaysian-government-drafting-strategic-framework-to-develop-ev-charging-infrastructure-report/ | Malaysian Government drafting strategic framework to develop EV charging infrastructure – report | 40 | Malaysian Green Technology and Climate Change Corporation (MGTC) is currently developing a strategic framework for the development and planning of Electric Vehicle (EV) infrastructure across Malaysia, said Deputy International Trade and Industry Minister Liew Chin Tong. He said the government is also examining the existing procedures for approving the EV charging system to reduce the time in processing the installation approval, national news agency“Malaysia Automotive, Robotics and IoT Institute (MARii) and the Department of Standards Malaysia are also cooperating in ensuring that the EV technology adopted and developed in the country is uniform, safe and is of quality. “In efforts to encourage the use of EV and the addition of charging points nationwide, several policy decisions have been determined or implemented including offering tax incentive as announced in Budget 2022,” he said during an oral question-and-answer session in the House of Representatives. He was replying to a question from Jimmy Puah Wee Tse, a member of Parliament, on the policies taken by the International Trade and Industry Ministry (MITI) to encourage the use of EVs as well as the addition of charging points for EVs across Malaysia. It was reported last year that the Malaysia government’s target to install up to 10,000 public charging stations for electric vehicles (EVs) in the country by 2025 under the Low Carbon Mobility Blueprint 2021-2030 is on track, with around 700 charging stations nationwide having been set up so far, according to the MITI. The EV industry has become one of the hottest sectors among Southeast Asian countries. Often seen as the future of automobile, neighboring countries Indonesia and Thailand has hoped to become EV regional hubs, luring car makers from Japan, South Korea and the US to invest and build factories here. Countries including Malaysia and Vietnam have started to build EV charging infrastructure and governments are implementing policies to promote EV industry in a bid to reduce carbon footprint. Liew also added that under Budget 2022, the government’s incentive covers full exemption on import duty, excise duty and road tax for locally assembled EVs or imported as completely built-up, as well as full exemption for sales tax for EVs assembled locally and tax relief for individuals for subscription of facilities or installation of EV charging systems. “Additional incentives were also proposed under Budget 2023 and, at the same time, there are proposals to increase the number of EVs including hybrid as official vehicles for departments and positions is being fine-tuned by the Finance Ministry (MoF). Besides that, the land public transport vehicles are also encouraged to change to vehicles that use electric,” he added. Liew said that up to end-2022, there were 902 charging units nationwide, while existing EVs in the country including hybrid amounted to 21,659 units. “The effects from these initiatives can be seen in the significant increase the demand for EVs. The demand for EV (full battery category) jumped to over 3,400 units last year compared with an average of 300 units annually in the previous years,” he said. Liew stressed that the implementation of these initiatives and new initiatives in the future is expected to further increase the usage of and demand for EVs as well as attract investors to expand the charging points across Malaysia to realise the nation’s target of achieving carbon-neutral status by 2050 as outlined under the 12th Malaysia Plan. Installation of 10,000 EV charging points in Malaysia on track, 700 ready, according to ministry |
https://technode.global/2023/02/17/wellous-dhl-establish-a-sustainability-partnership-to-combat-climate-change/ | Wellous, DHL establish a sustainability partnership to combat climate change | 40 | Wellous Group LimitedWellous said in a statement that this partnership supports Wellous’ sustainability goal to reduce the carbon emissions of its international shipments by 10 percent year-on-year. “Sustainability is the foundation of everything we do today to improve the well-being of our people, our communities and the environment in which we operate. ” said Wee Kuan (Andy) Tan, Co-Founder and Chief Executive Officer of Wellous. “Investing in sustainable solutions is a priority for us as we constantly seek greener alternatives. Through this strategic partnership, we are addressing our carbon footprint at source and making a positive impact on our value chain, “We ensure that all our operating businesses continue to strengthen their sustainable practices while integrating ESG principles into their operating procedures,” he added. DHL Express Malaysia and Brunei Managing Director Julian Neo said :”In recognising the increasing importance that air freight plays in modern logistics, we must also be cognisant of its adverse effects on climate change. ” “We are honoured that Wellous has selected DHL to collaborate on their decarbonisation journey, “Together, we can be a driving force for sustainable transformation in our respective industries as we develop our processes to be more environmentally responsible than ever,” he added. Wellous’ use of GoGreen Plus applies across its overseas trade lanes, encompassing markets in Asia, North America, Middle East and Oceania. The partnership between Wellous and DHL includes a framework to explore cooperation in other climate neutral initiatives, communications, knowledge-sharing, and community engagement. It comes as part of Wellous’ measures to meet their eco-conscious ambitions. Newly introduced in 2023 by DHL Express, GoGreen Plus enables businesses to efficiently mitigate the environmental impact of their air freight supply chains. This is achieved through carbon insetting, where the release of CO2 and other greenhouse gases is decreased by blending the amount of conventional jet fuel needed with sustainable aviation fuel. In contrast to offsetting, which helps to balance carbon emissions through climate protection projects worldwide, GoGreen Plus provides the option to actively prevent emissions from being generated in the first place during parcel transport. The volume of sustainable aviation fuel committed represents Wellous’ accelerated transition to more clean operations. Sustainable aviation fuel is produced from sustainably-sourced renewable waste and residue raw materials, such as used cooking oil and animal fat. In neat form and over the lifecycle, it significantly cuts emissions by up to 80 percent compared to conventional jet fuel. An independent third-party agency, Société Générale de Surveillance, verifies the reductions, which can be counted towards Scope 3 and Science Based Targets (SBTi). GoGreen Plus is part of Deutsche Post DHL Group’s mid-term sustainability roadmap for 2030 and contributes to the interim of having at least 30 percent of fuel requirements covered by sustainable fuels. In 2022, the group announced two of the largest ever sustainable aviation fuel deals with bp and Neste amounting to more than 800 million litres. It is expected that the strategic partnerships will save approximately two million tons of carbon dioxide emissions over the aviation fuel lifecycle—equivalent to the annual greenhouse gas emissions of 400,000 passenger cars. Wellous is a health food and nutrition company that develops, manufactures, markets and distributes trusted and beneficial health and wellness products. Based in Malaysia, Wellous’ products and services are distributed through its tech-enabled distribution channels. The company has a strong footprint in the Asia-Pacific markets and growing presence in other markets across the world. DHL, a part of Deutsche Post DHL Group, is the leading global brand in the logistics industry. Its DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 380,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. Singapore-based Ezyhaul & DHL invest $20M in UK logistics tech startup DigiHaul |
https://technode.global/2023/02/17/malaysias-sunview-partners-huawei-for-renewable-energy/ | Malaysia’s Sunview partners Huawei for renewable energy | 40 | Sunview Group BerhadSunview said in a statement that its wholly owned subsidiary, Fabulous Sunview Sdn. Bhd. has inked a Memorandum of Understanding (MoU) for a period of 12 months with Huawei Malaysia. The objective of the MoU is to collaborate in the field of renewable energy such as introduction of electric vehicle (EV) charging, microgrid, telecommunications site modernization and energy storage solutions on a non-exclusive basis. Upon entering into a contractual arrangement, Huawei Malaysia will basically act as a technology provider while Sunview would be a strategic fulfilment partner. “Sunview is honoured to collaborate with Huawei on the strategic partnership for new development in the renewable energy,“With the increasing adoption of renewable energy worldwide, the strategic partnership with Huawei comes at an opportune time where Sunview will be able to create more value with the technology from Huawei in assisting more Malaysian companies in the transition to renewable energy usage,” said Sunview Group Berhad Chief Operating Officer and Executive Director Charlie Chow Kian Hung. Huawei Malaysia Vice President of Digital Power Business Group Chong Chern Peng said power production needs to be low carbonised to drive energy revolution for a better and greener future. According to him, the group’s vision is to digitalise traditional energy and this is done by integrating digital technologies and power electronics technologies. “Leveraging our expertise in digital technologies and power electronics, Huawei Digital Power has created all-scenario low-carbon energy solutions, covering the whole energy flow from green power generation to efficient power consumption, “This includes our FusionSolar Smart PV solution for green power generation, Data Centre Facilities and Site Power facilities for green ICT infrastructure, as well as FusionCharge for green mobility,” he added. Sunview is an investment holding company. Through its subsidiaries, the firm is principally involved in the provision of engineering, procurement, and commissioning of solar photovoltaic (PV) facilities for industrial, commercial, and residential buildings, solar PV and installation services, solar power generation and supply as well as associated products and services to complement the group’s core services. Sunview is registered under Sustainable Energy Development Authority Malaysia as a solar service provider and solar PV investor, certified contractor of Tenaga Nasional Berhad, electrical contractor and Energy Service Company under Suruhanjaya Tenaga and a G7 contractor of the Industry Development Board. Solarvest Borneo inks MOU with CENTEXS and Huawei Malaysia to develop green energy lab |
https://technode.global/2023/02/15/malaysias-solarvest-launches-start-up-program-to-encourage-innovations-in-greentech-fintech-and-renewable-energy/ | Malaysia’s Solarvest launches start-up program to encourage innovations in greentech, FinTech and renewable energy | 40 | Malaysian clean energy expert Solarvest said in a statement that the programme is a continuance and revitalization to the start-up programme that the group initiated back in October 2021 (SIL 2021). Solarvest Innovation Lab was founded to spur innovation and entrepreneurship developments in Malaysia with a key focus on greentech, fintech, and renewable energy. It aims to attract budding entrepreneurs with revolutionary ideas and to provide the right mentorship coaching, business network and financial support to accelerate the commercialization of these businesses. Under SIL 2023, Solarvest is collaborating with a larger group of strategic partners to further enhance the effectiveness and success factors of start-ups. Joining the notable names of SIL 2021’s partners such as Malaysia Digital Economy Corporation (MDEC), Telekom Malaysia Berhad, and OCBC Bank (Malaysia) Berhad, the new corporate partners under SIL 2023 include Microsoft Malaysia Sdn Bhd as a strategic technology partner; Pitch Platforms Sdn Bhd (pitchIN), an equity crowdfunding platform; Alta Group Malaysia, a digital marketplace for alternative investments and Common Ground Works Sdn Bhd, a provider of coworking spaces in key locations nationwide. “The new corporate partners under SIL 2023 are market leaders in their respective fields and this will enhance the overall attractiveness, flexibility and diversity of the programme,“Together, we aim to create an ecosystem that supports start-ups at every growth stage,” said Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Shiong. According to him, SIL 2023 will have a broader and more impactful reach among start-ups, providing a holistic approach to their technical and business needs, capital requirements, and networking opportunities in unlocking the commercial potential of their innovative concepts. ”“As an industry leader in the clean energy space, we aim to unearth revolutionary ideas in these key industries of greentech, fintech and renewable energy which play a crucial role in the clean energy ecosystem, “Hence, further pushing the innovation frontier and bridging the gap between new business concepts and marketable solutions,” he added. The start-up programme is composed of two rounds of funding. The seed funding round offers selected candidates RM10,000 to prove a business concept within a six-month time frame. Subsequently, candidates with viable business ideas may participate in the accelerator funding round to potentially receive a capital of RM100,000 to execute their ideas within twelve months. Under Solarvest’s SIL 2021, six candidates were selected under the seed funding round to be offered a grant of MYR10,000 ($2277) each. Meanwhile, the accelerator funding round garnered a positive response of over 50 submissions, of which nine were shortlisted to pitch their ideas to a panel of judges which comprised of representatives from Solarvest and other corporate partners. “In addition, as we are venturing into a vertical expansion across the clean energy ecosystem, Solarvest may integrate viable business ideas in the development of better solutions that will help increase energy yield and overall efficiencies,” Davis said. Solarvest is a clean energy expert with a multi-national presence across Asia-Pacific. The Malaysia-based company started as a one-stop solar photovoltaic system solutionToday, Solarvest also owns renewable energy generation plants with a cumulative capacity of over 50MW (on-going and completed). The company is currently venturing into other clean energy solutions including, among others, energy efficiency, low-carbon mobility, and renewable energy certificates. Solarvest Borneo inks MOU with CENTEXS and Huawei Malaysia to develop green energy lab |
https://technode.global/2023/02/14/zetrix-partners-um-and-caict-for-cross-border-blockchain-implementation-research/ | Zetrix partners UM and CAICT for cross-border blockchain implementation research | 40 | Malaysia’s Blockchain Infrastructure UM and CAICT’s project entitled “Research on Key Issues of China-Malaysia Transborder Blockchain Infrastructure and Pilot Applications” was selected as part of the intergovernmental collaboration between Malaysia and the People’s Republic of China in the field of Science, Technology and Innovation, Zetrix said in a statement on Wednesday. The Chinese government announced the government-to-government (G2G) program, a collaboration between the Chinese government and overseas governments. Initiated by the Ministry of Science and Technology (MOST) of China, Malaysia is one of the 14 countries that are participating in the programme. The China-Malaysia G2G cooperation covers four sectors, including public health (such as vaccine research and development (R&D), artificial intelligence (AI), information and communications technology (ICT) (blockchain, big data, etc. ), as well as space remote sensing technology. CAICT has chosen UM as a research partner, highlighting it as the tertiary education institution with the best research resources in Malaysia. Additionally, this collaboration can further increase technical expertise and provide both countries with mutual benefits. The research is proposing a system that could prevent fraud in supply chain processes using Blockchain technology for cross-border trade. The system comprises smart contracts collaboration supported across the multiple parties involved in China trade including the Belt and Road Initiative (BRI) countries. The system should enable all stakeholders to collaborate in cross oganisational information exchanges, all backed by a secure, unalterable audit trail. Wong Thean Soon, the Co-Founder of Zetrix, is confident that the commercialisation blockchain through Zetrix will bring many benefits to Malaysia. “This strategic cooperation will further strengthen Malaysiaof China trade and investment relations, including through the Regional Comprehensive Economic Partnership (RCEP), which is the main driving force in integrating the regional economy with the use of 4th Industrial Revolution (4IR) technology blockchain, artificial intelligence (AI), internet of things (IoT), as well as cloud computing technology and big data analysis (Big Data). With that, Malaysia will be one of the leading countries in blockchain development,” he said. This project will spur talent exchanges between China and Malaysia, such as sharing knowledge and expertise via study visits and other intellectual exchanges. For human talent development, this project is expected to produce several PhD students from the Malaysian side in multidisciplinary areas. The team members in both countries will jointly hold international conferences to promote the innovative technologies of intelligent healthcare. The successful implementation of the crossborder supply chain traceability blockchain platform will be promoted to countries along the “Belt and Road”, which has important economic benefits. Dr. Saaidal Razalli Azzuhri (Faculty o f Computer Science & IT), the research leader for UM, stated that this project will promote the innovation of science and technology by disseminating it through peer reviewed publications in top rank international conferences. “This makes the project possible with the synergy of experts and interdisciplinary across faculties (computer sciences, laws, economics, and Institute of China Studies),” he said. Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Its cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a globa based economy. Developed by M Y E. G. Services Bhd, the cross border and cross chain integration with Xinghuo Blockchain Infrastructure and Facility (BIF) enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC). China’s Xinghuo BIF and Malaysia’s Zetrix jointly introduce Web3 Services |
https://technode.global/2023/02/08/malaysias-capital-a-introduces-new-ai-powered-ask-bo-chatbot/ | Malaysia’s Capital A introduces new AI-powered ‘Ask Bo’ chatbot | 40 | Capital A BerhadThe company said in a statement that it has bidded farewell to AirAsia Virtual Allstar AVA, who has been the first port of call for guests’ queries and complaints since her onboarding in 2019, and to welcome ‘Ask Bo’ which has enhanced artificial intelligence (AI) and machine learning (ML) capabilities. “Our guests have spoken, and we are listening and learning. We felt their frustration towards our first AI chatbot – AVA which was always a work in progress. We recognise she fell short of people’s expectations and we want to do better, “We thank AVA for her achievements in handling more than 113 million guests since 2019, and handling over 43 million queries in 2020 at the peak of Covid,” said Tony Fernandes, Chief Executive Officer of Capital A. Given the size of the airline that AirAsia is, with thousands of refunds and flight change requests, he recognized that humans alone cannot cope, and the firm has to also use technology. “We learned through AVA how to use artificial intelligence to answer complex and sizable queries better and faster. Over the last eight months, the customer experience team have zeroed in on what our guests need and want, what their top complaints are, and today we are happy to introduce Ask Bo, named after our airline Group Chief Executive Officern Bo Lingam, “He has been at my side for the past 21 years and is the go-to person with all answers to our Group’s airline questions,” he added. Meanwhile, AirAsia Aviation Group Chief Executive Officer Bo Lingam said :“I am happy to put my name and my face for this new and enhanced version of our customer concierge service, that promises to be more proactive and attentive. ” “Lower fares doesn’t mean lower service quality and it is very important to us that our guests feel cared for when they choose to fly with us, for the best fares and the best customer experience, “The buck stops with me. Ask Bo will make the customer journey easier, simpler, and more informative,” he added. AirAsia Aviation Group Chief Airport and Customer Experience Officer Kesavan Sivanandam said :“Many new exciting features are being added to Ask Bo – he will be able to provide LIVE updates on flight status (delays, departures) and/or changes and boarding information, in more languages including English, Chinese, Bahasa (BM, Indonesian), Thai, Japanese, Korean and Vietnamese. ”“He will send push notifications on any last minute changes on the day of operations, and give baggage information (tracking, arrival belt, mishandled baggage reports) and report real-time automatic updates of departure timings into the electronic Boarding Pass for our guests’ peace of mind,“Our guests will have more autonomy– they will be able to change flights, request refunds, choose Service recovery options. By March, our guests will also be able to talk live to our human agents, during the Ask Bo interaction. We will continue to innovate to ensure the highest standards of customer care in all that we do to best meet our guests requirements,” he added. In a bid to be more open and transparent, Capital A will reveal live information on On-time Performance, as well as baggage handling information on its website and its Super App. It has also vowed to continue to review guests’ feedback from various perspectives across the Group, support cross departmental collaboration and adoption of customer experience programmes into different business entities, while ensuring that leaders lend their full support in the successful implementation of CX enhancement initiatives. Capital A launches airasia gifts with South Korea’s COOP Marketing Groupon for airasia super app |
https://technode.global/2023/02/03/grab-appoints-adelene-foo-as-managing-director-of-grab-malaysia/ | Grab appoints Adelene Foo as Managing Director of Grab Malaysia | 40 | GrabGrab said in a statement that in her role, Foo will oversee the business strategy and operations of Grab’s businesses in Malaysia. A ten-year veteran at Grab, she was previously the Country Head in Malaysia between 2012-2014 before moving on to regional roles, most recently the Regional Head of Merchants & Regional Head of GrabExpress as well as newly appointed Chief Executive Officer of Jaya Grocer. She succeeds Sean Goh, who assumes the position of Regional Head of Deliveries and Mobility. With her deep experience in setting up the local team and meeting daily needs of people in Malaysia, Foo will help to continue to grow the Mobility, Deliveries, on-demand groceries as well as accelerate the growth of the GrabFin to continue to become the stronger service player in Malaysia. “Grab has evolved tremendously over the past 10 years as we have introduced new services and features in our superapp. We are now more focused than ever on building amazing products and services for our customers, using tech for the good of the Malaysian community to help them earn, ride, eat, shop and access financial services,“Adelene’s proven credentials and entrepreneurial spirit in scaling and growing Grab across Southeast Asia fits perfectly for this next phase of growth for Grab in Malaysia and I’m so excited to welcome her back to the country leadership team,” said Russell Cohen, Group Managing Director of Operations at Grab. Foo brings to Grab Malaysia a track record of launching and scaling various Grab business regionally that contributes to positive and long term impact on local communities. This comes with a keen understanding of local conditions that leads to hyperlocal Grab services that truly address users’ needs. Foo will continue to lead Jaya Grocer, as Chief Executive Officer, realising synergies across Jaya Grocer and the Grab ecosystem for a seamless experience for Jaya customers and bring the convenience of on-demand grocery delivery to more consumers in Malaysia. Prior to joining Grab, Foo was a consultant with Accenture Management Consulting, as part of the CRM (Customer Relationship Management) practice. “I am excited and honoured to be tasked once again to lead Malaysia. The team has made impressive strides over the years; we are a leading superapp that addresses the daily needs of Malaysians,” said Adelene Foo, the new Managing Director of Grab Malaysia. “Grab is committed to the long-term development of Malaysia. I look forward to working with the team to focus on introducing more affordable access to the best of our platform, create more earning opportunities for our partners, help more micro-entrepreneurs digitise and grow, and train more talent to support Malaysia’s growth in the digital economy,” she added. Grab appoints Philipp Kandal as Chief Product Officer |
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