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https://technode.global/2023/11/02/japans-mitsui-invests-58m-in-ada-via-axiata-digital-valuing-ada-at-550m/

Japan’s Mitsui invests $58M in ADA via Axiata Digital, valuing ADA at $550M

Malaysia-headquartered Mitsui’s additional investment has established a watermark valuation of $550 million for ADA, the telecommunications group said in a statement. Following the investment, Mitsui’s stake in ADS will increase from 3.29 percent to 20 percent, resulting in an effective 12.69 percent stake in ADA. On the strength of the investment, ADA – the largest independent data and AI company in the region, spanning 12 countries across Asia – is set to broaden its digital reach and reinforce its commitment to advancing digital and data transformation in the region. Mitsui has been working closely with ADS and ADA since their initial investment in 2019, and is now intensifying its efforts to deliver data and AI solutions to partners and clients in the APAC region. Vivek Sood, Group Chief Executive Officer and Managing Director of Axiata, said “Mitsui has a strong and proven track record of bolstering innovative businesses in the fields of AI, data analytics and digital transformation. We are confident that broadening our strategic partnership will further enhance ADA’s expertise in AI and data analytics with Mitsui’s substantial business capabilities derived from a global portfolio. ” “This is a significant step towards generating greater, long-term value for our stakeholders and in driving continued growth within this space. Consequently, this will enable Axiata to seize additional opportunities in the digital business realm while sharpening our focus on our core pillars, thereby enabling sustainable growth across our geographic footprint,” he added. “We also acknowledge the contributions of other shareholders within ADA, such as Softbank and Sumitomo, who have been instrumental in providing support and fostering synergies as ADA pursues its journey towards achieving unicorn status in the AI, data analytics and digital transformation space,” he said. Toru Matsui, Representative Director, Senior Executive Managing Officer of Mitsui, said: “The IT & Communication Business Unit has been executing a customer relationship management strategy to develop digital marketing business clusters that contribute to our consumer-centric businesses and additional investment in ADS will strengthen this strategy in Asia. “We look forward to collaborating closely with Axiata Group and ADS/ADA in order to contribute to the growth of ADA by accelerating the provision of its digital marketing solutions and data analysis services to our partners throughout the region,” he added. Srinivas Gattamneni, Chief Executive Officer of ADA, said “Mitsui’s strong endorsement highlights our extraordinary growth story. We are excited about the prospect of deepening our collaboration with Mitsui to empower their partners with cutting-edge data, AI, and technology solutions. This partnership represents a significant step forward as we enter our next phase of growth, and we believe it will be an invaluable contributor to our journey. ”Axiata plans to launch digital bank by year-end – report

https://technode.global/2023/10/31/malaysias-vircle-receives-venture-capital-injection-from-kumpulan-modal-perdana-gobi-partners/

Malaysia’s Vircle receives venture capital injection from Kumpulan Modal Perdana, Gobi Partners

VircleVircle said in a statement on Tuesday that Gobi facilitated its investment through the Gobi Dana Impak Ventures (GDIV) fund. GDIV is a part of Khazanah Nasional Berhad’s (Khazanah) Future Malaysia Programme, an initiative under the Malaysian sovereign wealth fund’s Dana Impak mandate, to support the nation’s startup ecosystem of entrepreneurs, startups, venture capital and corporate venture programs. With this funding, Vircle’s goal is to expand its services to public schools nationwide. “We have created a truly family-centric financial platform to offer every child a gentle and safe introduction to the cashless world, providing experiential learning opportunities that allow them to experience the real world while providing parents peace of mind through Vircle’s unique parental oversight and child safety engine, before venturing into the real world of finances, “Our mission is to bank one million Malaysian children and a total of three million children across Southeast Asia within the next five years,” its Founder Gokula Krishnan Subramaniam said. According to him, the firm will achieve this by constantly innovating in collaboration with parents and regulators backed by funding from its investors such as KMP and GDIV. Vircle was founded by Subramaniam with over 20 years of experience in research and development, engineering, product, commercial, solutions and sales. The firm was established in March 2021 with the aim to reshape financial education and banking for children through its Vircle app. The app has been an important tool in instilling lifelong money habits among young children, through partnerships with major schools across Malaysia. Presently, Vircle extends its services to families representing 130 nationalities and operates in partnership with over 58 prestigious private and international educational institutions. The firm’s innovative and proprietary parental control technology empowers parents to effortlessly oversee and manage their child’s expenses both in school and out-of-school. Its child-safe Visa prepaid card, the first of its kind in Malaysia, offers parents a regulated financial tool to help guide their children in navigating the cashless and digital banking environment with careful oversight, instilling financial responsibility. Through experiential features like Missions, Savings, and Spending controls, children can acquire vital money management skills, empowering them to make informed decisions from an early age. “Our investment will supercharge Vircle’s mission to transform financial literacy for children by incorporating data analytics capabilities,“We are thrilled about this partnership and our shared vision for growth,” KMP Chief Executive Officer Yarham Yunus said. According to him, witnessing the number of users and transactions, doubling year on year over the last two years is a testament to the immense potential of this partnership. “We are excited to partner with Vircle to continue expanding its reach especially as it makes headways into the public and underserved schools’ segment,” he added. Established in 2001, KMP is a venture capital firm wholly owned by the Ministry of Finance, Inc. in Malaysia and under the purview of the Ministry of Science, Technology &KMP was established with a mandate to focus on technology development, aimed at spurring the growth of technology-based businesses. Since its inception, KMP has invested in more than 40 companies, encompassing high-tech companies across a spectrum of technology sectors, including but not limited to internet of things (IoT), advanced materials, semiconductor, automation, green technology and renewable energy. “In a region where 160 million children lack access to banking services, Vircle emerges as a beacon of hope, introducing a safe passage into the cashless world, “With an emphasis on cultivating crucial money management skills, Vircle addresses a significant gap in both the educational system and households across Southeast Asia,” Gobi Co-Founder and Chairperson Thomas Tsao said. It is noted that GDIV’s investment into Vircle aligns with Dana Impak’s aim to deliver socioeconomic impact for Malaysia across six themes – Digital Society and Technology Hub, Quality Health and Education for all, Decent Work and Social Mobility, Food and Energy Security, Building Climate Resilience, and Competing in Global Markets. Gobi is a Pan-Asian venture capital firm with $1.6 billion in assets under management. 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 17 funds to date and invested in over 380 startups with 62 operating in the circular economy. The firm has grown to 15 locations across key markets in Bangkok, Cairo, Dhaka, Guangzhou, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Shanghai, Shenzhen, Singapore and Surabaya. DRB-HICOM invests in Carro’s auto fintech subsidiary Genie Malaysia

https://technode.global/2023/10/31/fusang-exchange-tokenizes-and-lists-digital-sukuk-backed-by-iilm/

Fusang Exchange tokenizes and lists digital sukuk backed by IILM

Fusang ExchangeFusang Exchange said in a statement that this tokenization exercise is the world’s first digitization of an institutionally-issued sukuk and is expected to revolutionize the Islamic investment landscape by providing investors access to shariah-compliant high-quality liquid assets (HQLA). IILM is an international organization established to address liquidity management challenges faced by Islamic financial institutions globally and acts as the program administrator of the underlying sukuk. According to the statement, the tokenization and listing exercise was completely led by Fusang Exchange, utilizing its proprietary Fusang depository receipt (FDR) structure to “wrap” the underlying sukuk into a digital form. The FDR retains full transparency and certainty of investors’ legal rights and adheres to Shariah standards set by the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). ZICO Shariah Advisory Services acted as the Shariah adviser for the issuance of these ERC-20 compliant tokens; the leading and most popular Ethereum standard for token issuance. Similar to American Depository Receipts (ADRs) and Hong Kong Depository Receipts (HDRs), FDRs represent a beneficial interest in an underlying security, which can then be listed, traded, and settled on Fusang Exchange. FDRs are fully redeemable for the underlying IILM sukuk and are secured by third-party independent custodians. FDRs ensure all parties have uniform legal rights and custodial arrangements. “Fusang Exchange’s next-generation tokenization technology and standardized legal framework has created the world’s first truly global digital stock exchange, “Our institutional-only digital infrastructure is built to serve, not disrupt, traditional financial intermediaries by enabling trading, custody and clearing of tokenized assets through a fully-regulated ecosystem,” said Henry Chong, Chief Executive Officer of Fusang Exchange. He also said that Fusang Exchange is encouraged by the Malaysian government’s commitment to developing the Islamic financial market, as evidenced by announcements in the Malaysian Budget 2024 – which aligns with Fusang Exchange’s aim to revolutionise Islamic financial markets via digital initiatives. It is noted that Fusang Exchange is a member-only network of regulated financial institutions – mirroring the operating structure of other non-digital stock exchanges – which facilitates the tokenisation, listing, trading, settlement, and custody of digital securities, all backed by real-world assets. Fusang Exchange itself is regulated and supervised by the Labuan Financial Services Authority, under the Ministry of Finance, Malaysia. “We envisage the new Guidelines on Labuan Securities Token Offering would further spur the development of tokenized securities in Labuan,” said Nik Mohamed Din Bin Nik Musa, Director General, Labuan Financial Services Authority. He said leveraging on Labuan IBFC’s robust regulatory environment, Fusang Exchange’s innovation has provided the platform for listing of a unique tokenized structure cementing Malaysia’s leadership role in Islamic digital financial services. He also said this issuance bodes well with the recent Budget 2024, providing full tax exemption on Islamic Finance transactions by Labuan entities, aimed at positioning the jurisdiction as an Islamic finance hub. Fusang Exchange President Kelvin Ung said that the firm gives banks and brokers access to institutional Islamic investment products and greater global market distribution. He opined that this solves several legacy issues – namely opening up of institutional markets and providing seamless digital access to investable assets, “We will continue to issue similar tokenized securities backed by government-linked assets, as we believe demand for high-quality liquid assets will continue in the current high interest rate environment, “Global banks and brokers can now access these tokenized securities via Fusang Exchange,” he added. Fusang Exchange is a global digital stock exchange built to enhance rather than replace traditional finance. Operating with full regulatory oversight, the firm provides institutional-grade trading, custody and settlement infrastructure for securities, alternative investments, and private assets. Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange

https://technode.global/2023/10/30/malaysias-pnb-epf-kwap-co-invest-in-high-tech-industrial-asset-kulim-ii-for-420m/

Malaysia’s PNB, EPF, KWAP co-invest in high-tech industrial asset Kulim II for $420M

Malaysian funds The funds said in a joint statement on Monday that the sale and leaseback transaction is expected to conclude in December 2023. According to the statement, PNB, EPF and KWAP will each own 33.3 percent equally. The transaction offers a unique opportunity for PNB, EPF, and KWAP to invest in a high quality and high specification industrial real asset in Malaysia which provides competitive returns. The investment is for a ten-year period with a clear exit strategy. “In addition, the investment catalyzes Foreign Direct Investment (FDI) by enabling our partner to deploy more capital in Malaysia,“This aligns with one of the goals of the Madani Economy Framework, which aims to establish Malaysia as a leading Asian economy and enhances our global competitiveness, resulting in high impact growth investments for the country,” said the statement. Furthermore, the move is in line with Malaysia’s New Industrial Master Plan 2030 (NIMP30), in its objective of advancing economic complexity. The injection of capital to the electrical and electronics (E&E) sector enables ams OSRAM, a global leader, to establish the world’s first fully automated 8-inch LED and micro LED manufacturing facility. The facility will foster the development of an ecosystem to support high value-added activities such as semiconductor fabrication. It also underscores Malaysia’s vision of becoming a prominent high-tech manufacturing hub that would rejuvenate the ‘Made in Malaysia’ brand. It is also noted that the products manufactured in ams OSRAM’s Kulim II will contribute to the country’s goal of expanding hightech manufacturing exports and establishing a global presence, which solidifies additional employment opportunities in the country in the field of science and high-tech semiconductors. PNB is one of the largest fund management companies in Malaysia with assets under management (AUM) exceeding MYR300 billion ($62.99 billion). Its portfolio covers strategic investments in Malaysia’s leading corporates, global equities, private investments and real estate. Established in 1951, the EPF is the largest institutional fund manager in Malaysia under the purview of the Ministry of Finance with more than MYR1 trillion ($210 billion) of assets under management. KWAP or the Retirement Fund (Incorporated) was established in 2007 to manage contributions from the federal government and relevant agencies made into the Retirement Fund to obtain optimum returns on its investments through sound management and investment of the fund in equity, fixed-income securities, money market instruments, and other forms of investments. Japan’s NTT launches $50M data center in Malaysia

https://technode.global/2023/10/30/gentari-partners-am-green-to-drive-large-scale-green-hydrogen-production-with-global-reach/

Gentari partners AM Green to drive large-scale green hydrogen production with global reach

Malaysian clean energy firm Gentari said in a statement on Monday that the firm via its wholly-owned subsidiary Gentari International Renewables Pte Ltd, has entered into an agreement with AM Green for the partnership. According to the statement, AMG Ammonia is established by the founders of Greenko, one of India’s leading renewable energy companies. An affiliate of Singapore investment entity, GIC, is also an investor in AMG Ammonia. AMG Ammonia is projected to produce 5 million tonnes per annum (MTPA) of green ammonia using round-the-clock renewable energy by 2030. The platform aims to deliver green ammonia, as it is presently the most mature and stable form of transporting hydrogen. It is noted that the 5 MTPA of green ammonia produced is equivalent to approximately 1 MTPA of green hydrogen, and would represent 20 percent of India’s target for green hydrogen production by 2030, or 10 percent of Europe’s target for imported renewable hydrogen. This size and capacity will place AMG Ammonia among the world’s pioneers in large-scale and cost-competitive green ammonia production. The first export of green ammonia from this platform is targeted by late 2025, and aims to serve key Organization for Economic Co-operation and Development (OECD) markets, such as Germany, Japan and South Korea, as well as Singapore. According to the statement, Gentari and AM Green both bring complementary capabilities across the green hydrogen value chain, including renewable energy, electrolysers, and ammonia production and marketing capabilities. The parties will mutually invest in AMG Ammonia, demonstrating full commitment to realise the platform’s potential and expand their presence in Asia Pacific and Europe. Post-investment from Gentari, AM Green and GIC, AMG Ammonia will be a fully funded platform for the targeted ammonia production plan. The platform is expected to invest, in phases, into projects across different locations in India. This will ensure competitive supply of hydrogen to the global market and will be key for manufacturing and exporting green hydrogen in the region. For Gentari, strong collaborations in its focus market of Malaysia and the broader Asia Pacific, will be vital to delivering its global ambition of up to 1.2 MTPA in clean hydrogen by 2030. In Malaysia, the company sees strong potential for developing a local hydrogen economy. To this end, Gentari has undertaken efforts to position Malaysia as a hydrogen export hub whereby its hydrogen ventures will support a comprehensive national roadmap that includes hydrogen as an energy transition lever for Malaysia. These efforts include working with Sarawak’s SEDC Energy Sdn Bhd to jointly explore the state’s potential as a green hydrogen production hub. At the same time, Gentari is also collaborating with its parent firm Petronas and utility firm Tenaga Nasional Berhad to advance studies on green hydrogen development in Kerteh, Terengganu and Pengerang, Johor towards the creation of a hydrogen economy in Malaysia. “As Gentari expands our portfolio of clean energy solutions in Malaysia, Asia Pacific and beyond, we believe in the critical importance of industry-level collaborations that combine complementary strengths and unlock synergies,” said Sushil Purohit, Chief Executive Officer of Gentari. According to him, this partnership with AM Green and GIC is a testament to our commitment in accelerating green hydrogen adoption globally, to make an impact in the pursuit of a net zero future. He noted that in OECD, Southeast and East Asian economies, green ammonia will address the decarbonization of industries such as power generation, through co-firing, as well as shipping. Meanwhile, Greenko Group and AM Green Founder Anil Chalamalasetty said that the commitment from Gentari and GIC underpins Indian Prime Minister Modi’s vision for India to become a leader in global energy transition. “This strategic partnership will work to accelerate net zero targets of various industries and several OECD economies,“Continuous focus on innovation combined with execution will ensure our venture, AM Green, remains ahead of others in becoming a global clean energy transition solutions platform,” he said. Malaysia’s Gentari appoints Navjit Gill as India’s Country Head

https://technode.global/2023/10/26/drb-hicom-invests-in-carros-auto-fintech-subsidiary-genie-malaysia/

DRB-HICOM invests in Carro’s auto fintech subsidiary Genie Malaysia

Edaran Otomobil Nasional Berhad (EON)In a joint statement on Thursday, the duo said the partnership combines DRB-HICOM’s decades of automotive experience with Carro’s proprietary tech-enabled platform to redefine auto financing in Malaysia. The investment is aligned with DRB-HICOM’s move to enhance its automotive distribution eco-system. The collaboration also unlocks valuable cross-selling opportunities for DRB-HICOM within Carro’s used car platform myTukar’s dealer network, comprising over 2,600 dealers nationwide. “Fintech is an integral part of our digital used car ecosystem. DRB-HICOM’s strategic investment is a huge validation of Genie Malaysia’s differentiating business model,“We are delighted to strengthen our partnership with DRB-HICOM, which has invested in Carro since 2021,” Aaron Tan, Co-Founder and Group Chief Executive Officer of Carro said. EON Chief Executive Officer and DRB-HICOM of Automotive Distribution Head Akkbar Danial said he believes the investment will benefit both parties. “Following our investment in Carro, parent company of used car platform myTukar in 2021, we are excited to deepen this strategic partnership, and are confident that the synergy between our two parties will unlock unprecedented opportunities that will benefit our customers and drive mutual success,” he said. He added that the experience of both parties in their respective markets will be mutually beneficial. “As we venture into game-changing technology, our accumulated experience brings valuable insights and expertise to the table,“We believe this experience will greatly benefit both parties as we navigate and innovate in this new technological landscape,” he added. Beginning operations only in 2021, Genie Malaysia has successfully built a loan book of nearly MYR 600 million ($125 million) comprising a highly diverse loan portfolio. With a data-centric approach, its non-performing loan (NPL) ratio has been maintained at less than 2 percent, better than most of its peers and even some banks. “Genie Malaysia started because there is a ‘blue ocean’ market of underserved and unbanked car buyers who are unable to secure traditional bank financing,“We have been able to combine data as well as the unique strengths of Carro and myTukar to democratise used car financing. Now everyone can own a car,” said Simon Chan, Chief Executive Officer of Genie Malaysia. Carro Chief Financial Officer Ernest Chew noted that Genie Malaysia has been profitable from the first year. “We have also shown how we can work with banks to help serve the underserved, whilst maintaining low to non-existent NPLs,“Today, we are already working with two leading banks who have provided financing and are in the process of welcoming more,” he added. DRB-HICOM is a firm with core businesses in the automotive, aerospace and defence, banking, postal, services, and property sectors. The firm has 84 companies and more than 45,000 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. Founded in 2015, Carro is a Southeast Asia’s online used car marketplace. The firm transforms the traditional way of buying and selling cars through proprietary pricing algorithms, artificial intelligence (AI)-enabled capabilities, and innovative technological solutions. The unicorn startup has raised over SGD 800 million ($583 million) from Softbank Vision Fund and several sovereign funds. It recorded its best-ever full-year positive earnings before interest, taxes, depreciation and amortization (EBITDA) of $4 million in FY2023. The group has a strong key presence in Singapore, Malaysia, Indonesia and Thailand, and has recently expanded into Japan and Taiwan. Malaysia’s DRB-Hicom and China’s Geely set framework for development of Automotive Hi-Tech Valley

https://technode.global/2023/10/26/infinaxis-data-centre-platform-breaks-ground-on-its-inaugural-data-center-in-cyberjaya/

Infinaxis Data Centre Platform breaks ground on its inaugural data center in Cyberjaya

Infinaxis Data Centre PlatformLocated in Cyberjaya, one of the largest internet data center (IDC) hubs in Malaysia, the seed investment consists of two greenfield sites with a combined plot area of 12,490 square meters, Gaw Capital Partners said in a statement. According to the statement, the business plan is to develop a 12 MW IT Load IDC facility with the GFA of 17,427 sqm on one of the plots. The construction is expected to complete in the second quarter of 2025. The information technology (IT) capacity potentially will be doubled in the future, with the second plot to be developed as an expansion site. It is noted that more than 80 percent of phase 1 has been committed via signed leases and customer letters of intent prior to construction commencement, with the remaining space to be leased to wholesale colocation customers. Infinaxis Data Centre Platform was formed in February 2023, to invest into greenfield assets across key markets in the Southeast Asia region, with the aim to create a portfolio of Tier-3 certified data center assets. “We are thrilled to witness this remarkable moment of groundbreaking of the inaugural infinaxis data center with our esteemed guests, partners and teams. It is a significant step for the platform and a testament to our commitment to Malaysia’s growing digital economy, “We believe in the Malaysia’s growing economy and its potential and look forward to participating in fostering digital transformation in Malaysia and Southeast Asia,” said Kenneth Gaw, President and Managing Principal of Gaw Capital Partners. According to the statement, Asia represents as one of the geographic frontiers in the data center space with greater opportunities. The Gaw Capital data centre platform will also comprise data centres located in China, Indonesia, Japan, South Korea, Vietnam and Malaysia. Gaw Capital Partners is a private equity fund management company focusing on real estate markets in Asia Pacific and other high barrier-to-entry markets globally. Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, the firm runs an integrated business model with its own in-house asset management operating platforms in commercial, hospitality, property development, logistics, IDC and education. The firm’s investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, serviced apartments, hotels, logistics warehouses and IDC projects. Gaw Capital has raised seven commingled funds targeting the APAC region since 2005. The firm also manages value-add/opportunistic funds in the United States, a Pan-Asia hospitality fund, a European hospitality fund, a Growth Equity Fund. It also provides services for credit investments and separate account direct investments globally. Gaw Capital has raised equity of $22.1 billion since 2005 and commanded assets of $35.2 billion under management as of the second quarter of 2023. Japan’s NTT launches $50M data center in Malaysia

https://technode.global/2023/10/26/nadia-omer-takes-the-helm-at-airasia-move-as-chief-executive-officer/

Nadia Omer takes the helm at airasia MOVE as Chief Executive Officer

Airasia MOVE (formerly airasia Superapp) has announced Nadia Omer as its new Chief Executive Officer effective October 26, 2023, taking the helm from Mohamad Hafidz Mohd Fadzil who served as airasia MOVE’s acting Chief Executive Officer since April this year. Airasia said in a statement on Thursday that Nadia has an impressive track record in category conversion, consumer habit change, and ecosystem value creation from her career journey spanning her early days at P&G to her roles at Nestle and PepsiCo. She most recently served as the Chief Business Officer of Cars24, Southeast Asia before joining airasia MOVE. She brings with her a wealth of experience to steer airasia MOVE forward to become the preferred travel platform of the region with the best value. Omer holds a Master of Business Administration from the Lahore University of Management and a Bachelor of Science degree in Mathematics, Statistics and Economics. “We are excited for the future of airasia MOVE, as we welcome Omer into what we will say is a pivotal moment for the organization,” said Tony Fernandes, Chief Executive Officer of Capital A and Executive Chairman of MOVE Digital. He said he has been actively interacting with Omer since the initial announcement of her appointment back in September and has no doubt that she will hit the ground running the moment she officially steps in. “As announced last month, we are entering into a new era of travel innovation, and I believe that Nadia’s multifaceted background has uniquely positioned her to lead airasia MOVE forward as Asean’s preferred one-stop travel platform,” he said. According to Fernandes, Omer will also be working closely with BigPay, led by Zubin Rada Krishnan to offer seamless access to travel and financial services on one single platform, with integrated financial features. Meanwhile, Omer said that it’s a privilege to take the helm of airasia MOVE, and she looks forward to working with Allstars across the region to create the next growth curve in the group’s journey. “My first priority and commitment is our airasia MOVE customers, always offering best-in-class value and industry-leading products to make travel that much easier, safer and fun,“I count on our teams to make every trip a delightful one so that we can win our customers’ hearts to make airasia MOVE the travel app of choice in Asean,” she added. MOVE Digital Sdn Bhd (formerly known as airasia Digital Sdn Bhd) is the digital arm of Capital A Berhad, and encompasses two transformative businesses: airasia Superapp (now airasia move) and BigPay. MOVE is dedicated to revolutionizing the travel and financial services sectors by offering innovative, user-centric solutions at the best value. It is noted that airasia MOVE has swiftly become a one-stop travel platform offering value and convenience through seamless end-to-end booking experiences within the past two years, while BigPay has established itself as an innovative fintech provider enabling Southeast Asians to improve their lives through better financial management. Airasia MOVE is the online travel agent+ (OTA+) providing a seamless and personalized experience for travellers at the best value in Asean and beyond. It envisions travel complemented by a community-led experience through features such as airasia chat, games, gifting, and a strong loyalty program that rewards users across its expansive ecosystem. Airasia MOVE’s ecosystem includes OTA services such as flight bookings from over 700 airlines, including AirAsia and 900,000 hotels world-wide plus ride-hailing, dining experiences, insurance, duty-free shopping and more, underpinned by integrated financial services by BigPay. Airasia Digital rebrands as next MOVE with new leadership

https://technode.global/2023/10/26/malaysias-careplus-diversifies-its-business-to-electric-vehicles/

Malaysia’s Careplus diversifies its business to electric vehicles

Malaysia-listed glove maker Careplus said in a statement on Thursday that it has undertaken a joint venture with Malaysia-based EV firm Go Auto to import electric vehicles under the Neta brand, by taking up a 30 percent stake in Intro Synergy Sdn Bhd (ISSB), a wholly owned subsidiary of Go Auto through a share swap. Careplus has also undertaken a joint venture with Go Auto in setting up a manufacturing and assembly hub for new energy vehicles through a newco named NexV Manufacturing Sdn Bhd (NMSB) with a 51 percent stake and the balance of 49 percent by Go Auto. NMSB will have an assembling capacity of 30,000 units per year in its first phase. Neta will take up 10,000 units while the balance will be opened to other interested parties. According to statement, the firms have received decision letters from Ministry of Investment, Trade and Industry (MITI) in Malaysia, approving their manufacturing license with the standard conditions to comply with department of environment and local authority. It is noted that the firms plan to begin assembling by the end of 2024. They will start by assembling up to 10,000 NETA cars as the capacity of the facility stands at 30,000 units a year. It is also noted that there are other brands which are interested to join them as they need a facility for completely knocked down (CKD) manufacturing. “We will invite them to partner with us. Our aim is that we manufacture up to 30,000 units before going on to the second and third phases,” the statement said. According to the statement, the capital expenditure (capex) requirement for the two buildings will be approximately MYR230 million ($48 million). Careplus said it expects to fund MYR 60 million ($12.53 million) to MYR 70 million ($14.62 million) internally, while the balance will come from bank borrowings. Careplus said the firm has plan to develop a Careplus Mall into an auto city, in which “anything related to auto or new energy” will be made a part of it. It said its flagship NETA showroom will be at the Careplus Mall which will have high speed charging stations for EVs, to be installed by Gentari, a clean energy unit under Petronas. It is noted that Careplus Mall will complement the auto side of businesses with a variety of food & beverage outlets, badminton courts, a TVET training academy and other suitable businesses or activities. On September 4, Careplus had entered into agreements in relation to the proposed ISSB joint venture which involves the purchase of 300,000 shares in ISSB equivalent to a 30 percent equity stake in ISSB. The deal will be satisfied by way of a share swap via the issuance and allotment of the 2.5 million new ordinary shares in Careplus valued at MYR 6 million ($1.25 million). The principal objective of ISSB is to undertake the EV distributorship in connection with the EV manufactured under the “NETA” brand whereby ISSB will import certain models of NETA EV for distribution in Malaysia, on an exclusive basis. ISSB has also been appointed as the sole and exclusive distributor for certain models of NETA EV for the territory of Malaysia. Careplus is a public listed company in Malaysia, headed by Chief Executive Oficer Lim Kwee Shyan. Go Auto is a 100 percent bumiputra, privately owned company headed by SM Azli SM Nasimuddin Kamal, who is currently Chief Executive Officer of ISSB. He will be appointed to head NMSB as Chairman of Board of Directors. Malaysia’s Plus partners Gentari to roll out modular, portable EV fast charging station with BESS at Behrang Lay-by

https://technode.global/2023/10/25/malaysias-capital-a-prepares-to-raise-more-than-1b-in-debt-equity-as-it-prepares-new-york-spac-listing-report/

Malaysia’s Capital A prepares to raise more than $1B in debt, equity as it prepares New York SPAC listing – report

Malaysia-headquartered Capital A Bhd, also the parent of budget airline AirAsia, is planning to raise more than $1 billion in debt and equity, and will list some of its businesses through a blank-cheque company, the Capital A Chief Executive Officer Tony Fernandes is said to be planning to raise more than $1 billion in debt and equity for his conglomerate and preparing to list some of its businesses through a blank-cheque company in New York, according to the report. Fernandes has agreed a deal with Aetherium Acquisition, a special purpose acquisition company trading on NASDAQ, and plans to list several businesses through it next year, the Capital A has been classified as a distressed company by the Malaysian stock exchange, a categorisation known as Practice Note 17 that subjects companies to greater regulatory scrutiny. It has applied to exit PN17 status. The deal with Aetherium is expected to be finalised in early 2024, one person added, according to the Fernandes first flagged a SPAC listing in an interview with theAccording to the report, the new entity will be renamed “Capital A International” and contain a new AirAsia franchise business that will help launch airlines in countries such as Bangladesh and the Maldives. It will also include its consulting arm and aircraft leasing business. Capital A did not immediately respond to Before the SPAC deal, the company is said to be hoping to secure more than $1 billion in new equity and debt over the next few months, according to one of the people, the FT’s report added. This includes a $150 million loan from Bangkok Bank this month, a deal agreed despite the PN17 status. Capital A is planning a $400 million loan in the form of a revenue bond to be paid out of airline ticket sales, mostly from private credit funds. A plan to raise $300 million in fresh equity from investors in the first quarter of 2024 is under discussion, the report said, adding that the group has also inked $175 million in separate fundraising deals for Teleport, Move and Asia Digital Engineering. Previously known as AirAsia Group, the group was renamed Capital A in Tony Fernandes plans US listings for AirAsia airline & super app – report

https://technode.global/2023/10/25/airasia-move-achieves-new-record-of-15-4-million-average-monthly-active-users-in-third-quarter/

Airasia MOVE achieves new record of 15.4 million average monthly active users in third quarter

Airasia MOVE, which was rebranded recently from airasia Superapp, has achieved a new record of 15.4 million average monthly active users in the third quarter, up by 61 percent year on year. Its parent firm Capital A said in a statement on Wednesday that this has led to another new high of 8.3 million transactions, up by 65 percent year on year. According to the statement, airasia MOVE gross booking value (GBV) also showcased substantial progress across all business segments, exhibiting a commendable 61 percent year on year growth. In terms of travel, the platform achieved 62 percent GBV improvement driven by the upsurge in passengers carried and complemented by expanded offerings including hotels and flights. As for ride-hailing, the platform achieved over 100 percent increase in GBV contributed strongly by the incremental sign-up of drivers to deliver the service, particularly in the airport ride segment. As for airasia rewards and other businesses, the platform recorded 13 percent GBV growth, largely attributed to an increased appetite among travellers for a seamless experience to book their travel needs in one platform, coupled with the ability to earn and burn loyalty points across the airasia MOVE ecosystem. Meanwhile, BigPay continues to thrive, with carded users increasing by 14 percent year on year, now reaching 1.5 million users. Its gross Transaction Value (GTV) has also shown encouraging progress, rising by 24 percent year on year with broad-based growth across all products. All payment services continue to show an upward trend, on the back of stronger collaboration with airasia MOVE where closed loop payments within the ecosystem grew by 47 percent year on year. In terms of remittance, the domestic transactions delivered the strongest growth, up 122 percent year on year. International remittances GTV also grew 11 percent year on year despite headwinds from a weakened Malaysian Ringgit. As for lending, the new loan disbursements reached a record high, growing 202 percent year on year, attributed to the enhanced credit scoring methodology to identify low-risk applicants during the quarter. In terms of marketplace, the GTV grew by 42 percent year on year, largely owing to strong take up in mobile prepaid top-ups launched earlier this year. Meanwhile, Capital A’s logistics business Teleport continued to deliver strong quarterly performance in its core operational metrics. In terms cargo segment, it delivered 57,309 tonnes, a 115 percent increase year on year. This success is further underscored by a healthy belly utilization rate of 15 percent, up from 12 percent year on year, an achievement made possible by the return of international flights, which significantly expanded usable belly capacity. As for delivery segment, it continued to post impressive growth, delivering 7.4 million parcels during the third quarter of 2023. To date, this segment has delivered 17.9 million parcels – already more than double the levels achieved in FY2022. This achievement was commendable despite some challenges in the overall e-commerce industry. It is noted that Teleport’s first dedicated A321F aircraft, Awan, flew its first international flight to Hong Kong in August, marking a significant milestone in Teleport’s regional expansion efforts. Teleport continues to build capacity through the return of AirAsia’s entire fleet, the deployment of 3 A321F aircraft as well as close strategic third-party airline partnerships. Airasia Digital rebrands as next MOVE with new leadership

https://technode.global/2023/10/25/malaysias-hextar-technologies-ventures-into-fintech-with-the-launch-of-mobile-super-app/

Malaysia’s Hextar Technologies ventures into FinTech with the launch of mobile super app

Malaysia-listed logistics, building materials and technology firm HexTech said in a statement on Wednesday that the app which was first released by its wholly-owned fintech unit Hextar Vision Sdn Bhd (Hextar Vision) in September 2023, is a personal financial information management app with artificial intelligence (AI) supported tools. It said MoneyX aims to promote financial literacy and management, by making information pertaining to available financial products and services accessible and easily understandable to users, and thus, empowering users in making responsible and informed financial decisions. MoneyX also includes a secure digital vault where users can store important documents like bills, insurance policies, and agreements, ensuring easy access and organization. Users are also given the option to utilize the reminder / notification feature in MoneyX which will prompt users regarding any upcoming payment or renewal deadlines. In conjunction with the soft launch, Hextar Vision also unveiled partnership with more than 14 partners namely Alliance Bank Malaysia Berhad, Hong Leong Bank Berhad, Standard Chartered Bank Malaysia Berhad, M&A Securities Sdn Bhd, Exsim Development Sdn Bhd, Finology Sdn Bhd, GKash Sdn Bhd, Edge Property Sdn Bhd, ServeDeck Innovation Sdn Bhd, Theta Edge Berhad, Richard Wee Chambers, ShopIQ Sdn Bhd, MWM Myworld Malaysia Sdn Bhd and CTOS Data Systems Sdn Bhd to aggregate their services on MoneyX. MoneyX has also selected Amazon Web Service for deployment of its automated financial information management app, leveraging on its analytics and machine learning capability to deliver personalized contents that transform its users’ financial literacy, and deliver rapid innovation for greater customer experience, setting the standard for Malaysian fintech services. The collaborations aim to offer a seamless experience to MoneyX users to understand and access the different available options in the ecosystem through the use of MoneyX’s artificial intelligence (AI) and machine learning capabilities based on each user’s input. Eddie Ong Choo Meng, the group Chief Executive Officer/Executive Director of HexTech, said that MoneyX is a game-changer to manage a user’s finances, tackling unorganized financial management and simplifies saturated and confusing financial products while providing quick access to finance-related tools in the market. According to him, the collaboration with financial institutions and financial service providers reflect the industry’s excitement towards the offerings envisioned by HexTech in the MoneyX ecosystem as the go-to app for all things in personal finance. “HexTech has put in a lot of effort into MoneyX, which is one of our key initiatives in the pursuit of opportunities in the technology sector, “Our vision for MoneyX is to become the leading fintech company in Malaysia in three years before going global,” he said. With MYR 100 million ($20.93 milllion) allocated to build and promote MoneyX, he said the firm is committed to making this vision a reality. Meanwhile, Muhammad Ibrahim, HexTech’s Chairman, said that MoneyX represents the group’s efforts to change the fintech industry’s approach towards AI-assisted financial management, at the same time ensuring the technology adoption trickles down to benefit the man on the street. “The greater digitalization in the financial services industry resulted in financial services becoming more diverse and accessible, in line with industry ambition of providing ‘finance for all’ such as underlined in the Bank Negara Malaysia Financial Sector Blueprint 2022- 2026, “However, this evolving landscape has become more challenging for consumers to navigate and properly utilise the tools to be more efficient in their financial management,” he noted. As financial services are increasingly becoming democratized and digitalized, he said the firm is envision MoneyX contributing towards better financial literacy among Malaysians, and providing better wealth management processes for its users. With up to one million users targeted to adopt MoneyX as their financial information management platform in the next one year, HexTech said Hextar Vision is gearing towards enhancing the in-house mobile app with a full integration with all key potential features by end-2024. Malaysian Fintech startup MADCash secures $1M in funding to empower women entrepreneurs

https://technode.global/2023/10/25/malaysian-stock-exchange-develops-platform-for-firms-to-assess-their-carbon-emissions-impact/

Malaysian stock exchange develops platform for firms to assess their carbon emissions impact

Malaysian stock exchange is developing the Centralized Sustainability Intelligence (CSI) Platform, to be used by both public listed companies (PLCs) and non-listed small and medium enterprises (SMEs) to assess their carbon emissions impact. Bursa Malaysia said in a statement on Tuesday that the platform also allows firm to disclose standardized environmental, social and governance (ESG) data in compliance with both local requirements and global standards, to subsequently facilitate access to sustainable financing. The collaboration between Bursa Malaysia’s CSI platform and JC3’s Greening Value Chain (GVC) program was announced at the JC3 Journey to Zero Conference 2023. According to the statement, the common, overarching goal of the CSI platform and the GVC program is to facilitate an effective and just transition for Malaysian companies, regardless of size – providing greater access to green capital, improved valuation, and a competitive advantage in global supply chains. The CSI platform complements JC3’s GVC program to facilitate Malaysian companies, particularly SMEs, to green their operations. Under this collaboration, users of the CSI platform can benefit from the GVC program if eligible, whereas SMEs considering to participate in the GVC program can leverage the CSI platform as the reporting tool. “We are delighted to expand the utility of the CSI platform, and facilitate more SMEs to tap into JC3’s transition finance facilities, such as the GVC programme,“We believe by synergising our efforts, together we can unlock opportunities and drive business value across the entire ecosystem spanning regulators, policymakers, PLCs, SMEs and financial institutions,” said Muhamad Umar Swift, Chief Executive Officer, Bursa Malaysia. It is noted that Malaysian SMEs will have access to the following GVC program features capacity building to measure, track and report greenhouse gases (GHG) emissions; and financing facilities at better rates via the low carbon transition facility. Meanwhile, users of the CSI platform can benefit via streamlined reporting, accelerated decarbonization and enhanced access to funds. The platform allows users to save time and resources for companies, as inputs only need to be done once to report against global standards such as the Global Reporting Initiative (GRI), Task Force on Climate-Related Financial Disclosures (TCFD) and the upcoming International Sustainability Standards Board (ISSB). The output or reports generated can then be used to address the requirements of stakeholders, which include investors, customers, and financial institutions. Users are allowed to access the platform with ease of monitoring companies’ carbon emissions across their value chain and empowering companies to develop effective decarbonization strategies using data collated from the platform. The platform also provides valuable insights on sustainability performance that will enable companies to increase access to funding for green initiatives. It is noted that the CSI platform has also been earmarked as an implementation tool of the New Industrial Master Plan that was announced by the Ministry of Investment, Trade and Industry, which will first focus on sectors that will be most impacted by the cross border adjustment mechanism. Designed for interoperability, the CSI platform can likely open up new trade and business opportunities for companies using the platform. In line with this, Bursa Malaysia had recently signed a Memorandum of Understanding with Indonesia Stock Exchange and Stock Exchange of Thailand, to shape common standards for determining ESG performance and carbon intensity as an ASEAN en bloc value proposition, thus facilitating trade and new business opportunities. Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange

https://technode.global/2023/10/24/city-energy-and-gentari-to-study-feasibility-of-building-hydrogen-pipeline-from-malaysia-to-singapore/

City Energy and Gentari to study feasibility of building hydrogen pipeline from Malaysia to Singapore

City EnergyThis follows a Memorandum of Understanding signed in April 2023 between City Energy, Singapore’s sole producer and provider of piped town gas and wholly owned subsidiary of Keppel Infrastructure Trust, and Gentari, a Malaysian clean energy solutions provider wholly owned by Petronas. Gentari said in a statement on Tuesday that the study will be conducted over a period of 12 months. Upon the conclusion of the study, both parties will collectively determine the way forward in relation to the execution of a front end engineering design (FEED) agreement. According to the statement, hydrogen is key to Singapore’s ambition to achieve net zero emissions by 2050. To that end, the government has in October 2022 unveiled its National Hydrogen Strategy as a key decarbonisation pathway. Like Singapore, Malaysia positions hydrogen as a pivotal driver for energy transition. The recently launched National Energy Transition Roadmap as well as Hydrogen Economy and Technology Roadmap will see Malaysia exploring bilateral agreements with key importing countries to develop a low-carbon hydrogen value chain, catalyze project development, and secure long-term green hydrogen offtakes. “This joint feasibility study with Gentari underscores our commitment to providing sustainable energy to households and businesses for generations to come and to supporting Singapore’s efforts to reduce emissions and address climate change,” said Perry Ong, Chief Executive Officer of City Energy. According to the statement, hydrogen is the largest component in town gas produced at City Energy’s Senoko Gasworks plant in northern Singapore, making City Energy one of the largest last-mile distributors of hydrogen in Singapore. Any pipeline to be established by the parties will supply hydrogen into the Senoko Gasworks plant. 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. “This collaboration with City Energy is a strategic step for Gentari towards accelerating the adoption of clean hydrogen as a viable energy source for customers in Asia Pacific and further afield,” said Michèle Azalbert, Gentari’s Chief Hydrogen Officer. “In line with our aim to produce up to 1.2 million tonnes per annum of clean hydrogen, Gentari is pleased to contribute towards accelerating the development of clean hydrogen through cross-border infrastructure, supporting Malaysia and Singapore’s target to achieve net zero emissions by 2050,” he said. The collaboration between City Energy and Gentari will continue a long-standing cooperation between Malaysia and Singapore. Since 1991, Singapore has been importing natural gas from Malaysia through the 2,623 kilometre-long Peninsular Gas Utilisation pipeline, owned and operated by Gentari’s sister company, Petronas Gas Berhad. Malaysia’s Plus partners Gentari to roll out modular, portable EV fast charging station with BESS at Behrang Lay-by

https://technode.global/2023/10/23/malaysias-jc3-announces-initiatives-to-support-inclusive-transition-to-greener-economy/

JC3 announces initiatives to support inclusive transition to greener economy in Malaysia

The Joint Committee on Climate Change (JC3), a platform established by public and private sectors to boost climate resilience within the Malaysian financial sector, has announced five key initiatives to expedite the transition of businesses and farmers towards low-carbon practices. JC3 said in a statement on Monday the initiatives underline the platform’s commitment to pursue accelerated climate action and emphasizes the critical role of the financial industry in enabling a sustainable agenda for the country. These public and private sector collaborations encompass the following:1. Greening Industrial ParksThis pilot project, in partnership with the Ministry of International Trade and Industry, Malaysian Investment Development Authority and SIRIM aims to transition the management of industrial parks and operations of their tenant companies to low-carbon and sustainable practices. These include developing infrastructure such as integrated waste management, use of renewable energy, measurement, monitoring and reporting of greenhouse gas (GHG) emissions as well as verification systems. Leveraging SIRIM’s cutting-edge S. M. A. R. T solution, designed for sustainable processes and practices, these industrial parks will be able to enhance their efficiency, minimise waste, reduce carbon footprint, and ensure eco-friendly production processes.2. Greening Value Chain programme with Bursa MalaysiaFollowing the positive outcomes from the JC3 Greening Value Chain (GVC) pilot program which was announced in 2022 and has enabled more than 80 participating small and medium enterprises (SMEs) within the supply chain of four corporates to start measuring and reporting their GHG emissions, the Bursa Malaysia’s Centralized Sustainability Intelligence Platform (CSI) is now collaborating with the JC3’s GVC program. Through the collaboration, more SMEs within the supply chain of Public Listed Companies (PLCs) can benefit from capacity-building support, GHG emissions reporting tools, and transition finance facilities.3. MYR 1 billion ($210 million) portfolio guarantee scheme for environmental, social, and corporate governance (ESG) financingCredit Guarantee Corporation Malaysia Berhad (CGC) in partnership with 18 participating banks will offer MYR 1 billion ($210 million) portfolio guarantee scheme. This is for ESG financing to support wider access to financing for SMEs.4. ESG jump-start portalIn addition, a one-stop online portal for SMEs to access foundational information to jump-start their sustainability journey is now available on the JC3 website. The portal contains useful and practical information on capacity-building programs, certification schemes, financial and incentive schemes. It also showcases other relevant resources offered by the financial industry, government agencies and other partner organizations.5. Green AgriTechJC3 is taking steps to further empower the agriculture sector via collaborative partnership with the Ministry of Agriculture and Food Security (MAFS), Lembaga Pertubuhan Peladang (LPP), and the Malaysia Digital Economy Corporation (MDEC) to pilot the Green AgriTech program, with a key focus on the ESG agenda for the agriculture sector. The program aims to encourage the adoption of green technology and sustainable agriculture practices among local farmers. The JC3 has also issued the 2023 Climate Data Catalogue (DC) on its website, reflecting the latest set of data needs and sources. The 2023 DC is more comprehensive, incorporating additional data items compared to the first version issued in December 2022. The latest release now features a total of 249 granular data items mapped to 399 data sources from 135 data providers. The availability of required data items in terms of sources, time-series and granularity has also improved. “The bank will continue to provide a facilitative policy environment for the industry to advance financial innovations and explore novel financial structures needed to meet the significant financing needs for climate risk mitigation and adaptation, “This will need to include a more prominent role for public-private partnerships and innovative blended finance structures,” said Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia. Dr. Awang Adek Hussin, Chairman of Securities Commission Malaysia, said that considering the huge financing requirement for sustainable development and energy transition, the financial sector, particularly the capital market, must continue to facilitate financing and investments in these key areas to support the government’s priorities. “As such, the capital market should be ready to facilitate fundraising and investments to achieve sustainability and climate goals,” he added. Nik Nazmi Nik Ahmad, Minister of Natural Resources, Environment and Climate Change also said that the very ethos of the governing frameworks of this administration, namely the Malaysia Madani and Ekonomi Madani, have sustainability at their core. “Since taking office, we have set into place various measures to both contribute to climate action and transform our economy,“Indeed, the Budget 2024 continues to build on the Ekonomi Madani with holistic measures to address climate change and complement other policies such as the National Energy Transition Roadmap (NETR), the New Industrial Master Plan (NIMP) 2030 and the Mid-Term Review of the 12th Malaysia Plan (MTR-12MP),” he added. The JC3 is a platform established in September 2019 to pursue collaborative actions for building climate resilience within the Malaysian financial sector. The JC3 is co-chaired by Jessica Chew Cheng Lian, Deputy Governor of Bank Negara Malaysia and Kamarudin Hashim, Managing Director of Securities Commission Malaysia, with members comprising senior officials from Bursa Malaysia and 21 financial industry players. The JC3’s initiatives and priorities are undertaken by its five sub-committees, namely Risk Management; Governance and Disclosure; Product and Innovation; Engagement and Capacity Building; and Bridging Data Gaps. An SME Focus Group has been recently established to develop strategies and solutions that support transition by SMEs. Malaysia’s TNB and Siemens Energy join forces in green hydrogen advancements

https://technode.global/2023/10/20/malaysias-epmb-invests-21m-for-new-car-manufacturing-facility-in-melaka/

Malaysia’s EPMB invests $21M for new EV car manufacturing facility in Melaka

Malaysia-listed In a joint statement on Friday, EPMB and Malaysian Investment Development Authority (MIDA) said that this strategic move is part of EPMB commitment to establishing a manufacturing hub for energy-efficient vehicles (EEVs) and EVs in Malaysia, contributing significantly to the global shift towards sustainability. According to the statement, the establishment of the new facility will unfold in several phases at the HICOM Pegoh Industrial Park. This project is poised to create around 1,000 new job opportunities in the state of Melaka, bolstering the state’s growing significance within the regional and global EV industry. Upon completion, the first phase of this new facility will have the capacity to produce up to 30,000 vehicles a year. This milestone project for the group solidifies EPMB’s strategic partnership with BAIC International Development Co Ltd (BAIC International), a Fortune Global 500 company and a major player in China’s automotive industry. EPMB signed a Memorandum of Understanding (MoU) with BAIC International in August, paving the way for local production of BAIC’s BJ40P and X55II sport utility vehicles (SUVs), right-hand drive (RHD) internal combustion engine (ICE) vehicles, and EVs. EPMB also expects to assemble vehicles for Great Wall Motor Sales Malaysia Sdn. Bhd. (GWM Malaysia), a subsidiary of Great Wall Motor Co. , Ltd. (GWM) at this plant, based on the MoU which was signed by both parties on October 18, 2023. “The establishment of an EV manufacturing facility is a pivotal step in realizing our comprehensive vision of developing a 360 supply chain for Malaysia’s EV market,” said Ahmad Razlan Mohamed, Group Chief Executive Officer of EP Manufacturing Berhad. “Collaborating closely with our strategic partner, BAIC, we are poised to construct a cutting-edge EV manufacturing facility in Melaka, heralding the commencement of the next chapter in our growth trajectory, “Additionally, we are keenly looking forward to collaborating with GWM, our esteemed customer, in contributing to position Malaysia as a central hub for EV and EEV in the ASEAN region,” he added. EPMB received approval for a manufacturing license from Malaysia’s Ministry of Investment, Trade, and Industry (MITI) on July 11, 2023 allowing the manufacture and assembly of four-wheel EEVs, electric passenger vehicles, and electric commercial vehicles. “Such collaboration with BAIC is a testament of their confidence in Malaysia’s attractiveness as an investment destination and underscores the nation’s cutting-edge automotive manufacturing capabilities, with EPMB leading the way,” said Wira Arham Abdul Rahman, Chief Executive Officer of MIDA. According to him, this new manufacturing facility, dedicated to EEVs and EVs, perfectly aligns with the Low Carbon Mobility Blueprint (LCMB), National Automotive Policy (NAP) 2020 and Malaysia’s New Industrial Master Plan 2030 (NIMP 2030) aspirations. “These policies are rooted in harnessing opportunities in ESG sensitive markets and swiftly adopting technology to enhance the technological ecosystem of our manufacturing sector and Malaysia’s commitment towards sustainable transportation,” he added. It is noted that Malaysia has successfully secured MYR 26.2 billion ($5.5 billion) in approved investments for the EV sector through 59 projects from 2018 to the first half of 2023. The government, through MITI and MIDA, is dedicated to facilitating investment opportunities and promoting growth in the EV automotive segment. Listed in 1997, EPMB is an automotive supplier operating five plants and factories located across Malaysia, supplying modular assemblies, safety and critical components to carmakers including Proton, Perodua, Honda, Mazda, Toyota & Kia. Aiming to be a leading automotive player, EPMB is providing a 360° supply chain for Malaysia’s EV market, spanning manufacturing, assembly, sales, and marketing of EVs. Under this initiative, EPMB is partnering with major automotive players to manufacture, assemble and distribute EVs, such as Blueshark electric scooters, in Malaysia and other Southeast Asian markets. Malaysia’s DRB-Hicom and China’s Geely set framework for development of Automotive Hi-Tech Valley

https://technode.global/2023/10/19/malaysias-plus-and-gentari-roll-out-modular-portable-ev-fast-charging-station-with-bess-at-behrang-lay-by/

Malaysia’s Plus partners Gentari to roll out modular, portable EV fast charging station with BESS at Behrang Lay-by

Malaysian expressway service providerGentari said in a statement that the launch was conducted by its wholly-owned subsidiary Gentari Green Mobility Sdn Bhd. According to the statement, the integrated chargers for public use, which combine the use of solar panels and BESS, are the first of its kind to be set up in the country. Each site will have a DC charging power up to 200 kW, and four charging points will be set up per location. The proposed four sites are Behrang Lay-by (Northbound and Southbound) in Perak and Senawang Lay-by (Northbound and Southbound) in Negeri Sembilan. Three more locations will be proposed at Ajil (Northbound and Southbound), and Perasing Rest and Service Area (R&R) sites, all on Lebuhraya Pantai Timur 2 (LPT2) in Terengganu. In addition, the Alternating Current (AC) charging points at existing Petronas petrol stations at PLUS’ R&Rs and lay-bys are being upgraded to Direct Current Fast Charging (DCFC) points. Gentari will also develop DCFC charging points at additional Petronas petrol stations along PLUS highways and nearby locations, targeted for full completion by 2024. Malaysia’s Minister of Works Alexander Nanta Linggi said the collaboration between PLUS and Gentari, is a significant joint effort that can harness the unique strengths of each organization to support an environmentally friendly transportation system, creating a more conducive environment for the use of eco-friendly vehicles. “At the Ministry, we are committed to achieving Malaysia’s sustainability goals, and I believe that this collaboration will play a crucial role in inspiring the people of Malaysia to support low-carbon transportation solutions, in line with the objectives outlined in the 12th Malaysia Plan (RMK-12), the Malaysia Green Technology Master Plan (GTMP), and the Low Carbon Mobility Development Plan (LCMB),” he said. PLUS Managing Director Nik Airina Nik Jaffar said that as Malaysia’s largest highway operator and a national strategic partner, PLUS committed to support and contribute to the national sustainability agenda. According to him, the firm collaborated with the Ministry of Works, Malaysian Highway Authority and key industry players to establish an infrastructural development of EV charging station roadmap whereby it aims to facilitate the installation of 100 DCFC EV charging stations across our highways by 2025. “This creates an ecosystem that is conducive for the Malaysians to transition into EV,Gentari Deputy Chief Executive Officer and Gentari Green Mobility Chief Executive Officer Shah Yang Razalli said that this partnership with PLUS and the Malaysian Highway Authority represents a significant step forward in their efforts to boost the growth of the EV ecosystem in Malaysia while prioritizing the needs of our customers. “PLUS, as a prominent highway operator in Malaysia, plays a crucial role in enhancing the infrastructure and facilities that Malaysian drivers rely on,“This, in turn, will increase range confidence and the desire to adopt EVs,” he said, adding that Gentari and its partner, EV Connection Sdn Bhd (EVC), are excited about this collaboration to introduce the EV Fast Charging Modular and Portable Station. To date, since its introduction in June 2022, Gentari has deployed over 180 charging points in Malaysia and over 160 charging points in India, through its affiliated entities. With a mission to be Asia Pacific’s most valued clean energy solutions partner by 2030, Gentari aims to capture over 10 percent market share of charge points and vehicle-as-a-service (VaaS) offerings, across key markets in Asia Pacific. Malaysia’s Sime Darby Motors partner Gentari to drive green mobility and clean energy solutions

https://technode.global/2023/10/19/malaysias-tnb-and-siemens-energy-join-forces-in-green-hydrogen-advancements/

Malaysia’s TNB and Siemens Energy join forces in green hydrogen advancements

Malaysian utility firm TNB said in a statement on Thursday that TNB has recently formalized an agreement through a Memorandum of Understanding (MoU) with Siemens Energy. This MoU provides TNB with access to cutting-edge knowledge and expertise as well as resources in hydrogen-based power generation, with a specific focus on green hydrogen production using electrolyser and RE generation sources such as pumped hydro and solar. “Partnering with Siemens Energy aligns seamlessly with TNB’s Energy Transition aspiration, propelling us toward our goal of achieving net zero emissions by 2050,He further emphasized that this MoU establishes a framework for the exploration of inventive solutions and cutting-edge technologies aimed at achieving cost-effective green hydrogen production in Malaysia while addressing the associated challenges. It is noted that under the National Energy Transition Roadmap (NETR), hydrogen and ammonia co-firing is recognized as one of the flagship projects and TNB is selected as a champion to lead its deployment, in collaboration with Petronas, as part of the national decarbonization initiative. This underpins the need to analyze the techno-economics aspects of hydrogen cofiring as well as balancing the security and affordability of energy produced from hydrogen co-fired power plants. The partnership with Siemens Energy will also empower TNB to delve into and enhance its capabilities in specifying, procuring, building, operating, maintaining, and overseeing the contractual and financial aspects of hydrogen production and its application for co-firing in thermal power plants. Additionally, the MoU facilitates the exchange of knowledge and technology transfer, enabling TNB to bolster its internal competencies and maintain a leading position in the field of hydrogen-related production and utilization technologies. The collaboration with Siemens Energy will also foster international cooperation and solidify TNB’s standing as a leading player in the global energy transition toward sustainable and carbon-neutral practices in the energy sector. Malaysia’s TNB accelerates commitment to 3 NETR flagship project in large scale clean energy and RE zones

https://technode.global/2023/10/18/malaysia-releases-simplified-esg-disclosure-guide-for-smes-in-supply-chains/

Malaysia releases simplified ESG disclosure guide for SMEs in supply chains

Capital Markets Malaysia (CMM)CMM said in a statement that the SEDG consolidates and simplifies the many complex global and local ESG-related frameworks to improve the availability of ESG data and information by SMEs. In formulating the guide, it said public and market consultations were conducted with multiple stakeholder groups — including large multinational and public listed companies (PLCs), SMEs, and regulatory and policy stakeholders — to better understand the disclosure challenges, needs and expectations of SMEs within the supply chain. “As the global sustainability movement forges ahead amid heightened regulatory scrutiny and investor demand for more deliberate company action towards net zero goals, the SC is committed to ensuring that our companies, both large and small, are prepared to meet global ESG requirements,” said Dr. Awang Adek Hussin, Executive Chairman of SC, and Chairman of CMM. Recognizing that SMEs are particularly exposed to risks from supply chain vulnerabilities, he said the SC welcomes the release of the SEDG which will help SMEs get ahead of the curve and remain relevant in a constantly evolving global marketplace. “As we collectively transform and elevate Malaysia’s economic system through the adoption of international standards and best practices, it is important to ensure that no SME is left behind,“To support inclusive and extensive adoption, CMM will launch the Bahasa Malaysia and Simplified Mandarin versions of the SEDG by end 2023,” he added. According to the statement, the release of the SEDG is aligned with recent national policy initiatives aimed at elevating business in Malaysia towards a synergy in commercial success and sustainability, particularly in the manufacturing sector, as the nation steps up its net zero commitments. These include the New Industrial Master Plan (NIMP) 2023, as well as the Industry Environmental, Social, and Governance (i-ESG) Framework and National Energy Transition Roadmap (NETR). The SEDG comprises 35 priority disclosures that are aligned with local and global sustainability guidelines which will enable SMEs to respond to disclosure requests from multiple stakeholders, including but not limited to customers, investors, banks and regulators. It is further categorised into Basic, Intermediate and Advanced, to cater to the different levels of sustainability maturity of each SME. The disclosures are applicable across all industries with different levels of priority, and SMEs are encouraged to determine the significance and relevance of these disclosures to their companies. “The journey of adopting sustainable practices can be daunting for SMEs. As such, our goal is to empower them with a framework that provides straightforward guidance that is structured and practical for SMEs to navigate the process of tracking and reporting their ESG data,” said Navina Balasingam, the General Manager of CMM. “Beyond the Guide, CMM has also launched our SEDG Adopter Program to support supply chain actors,” she said. The Adopter Program will provide SMEs with access to in-person training, tutorials, and workshops nationwide to guide SMEs in disclosing ESG data. The program aims to facilitate learning and sharing of experiences from a community of practitioners facing similar successes and challenges in implementing ESG reporting. “We are encouraged by the overwhelming reception to the SEDG Adopter Programme which includes major multinational supply chain players, SMEs, numerous financial institutions, government agencies and NGOs, as well as several local chambers of commerce, “Their commitment to encourage and support SMEs within their networks to develop ESG reporting practices is highly commendable,” Balasingam added. According to the statement, the early adopters of the SEDG from the various categories include CIMB Bank, Credit Guarantee Corporation, Generali, Hong Leong Bank, Malaysia Venture Capital Management (MAVCAP), Maybank, Nestlé Malaysia, PANTAS, Penjana Kapital, Thoughts in Gear (TIG), UOB Bank and Volvo Trucks Malaysia. The rest include Dewan Perniagaan Melayu Malaysia (DPMM), The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), The Malaysian Associated Indian Chambers of Commerce and Industry (MAICCI), Small and Medium Enterprises Association (SAMENTA), SME Association of Malaysia, Malaysian Dutch Business Council (MDBC), Business Finland and UN Global Compact Network Malaysia & Brunei. The SEDG is aligned to global, local and government frameworks and reporting standards including the Global Reporting Initiative (GRI), the International Sustainability Standards Board (ISSB), the Bursa Malaysia Listing Requirements, Bursa’s Sustainability Reporting Guide as well as the Malaysian Code on Corporate Governance (MCCG). CMM also plans to launch specialized sectoral disclosure guidance in early 2024. Capital Markets Malaysia launches Corporate Venture Capital Program to advance local ecosystem

https://technode.global/2023/10/18/singapore-polytechnic-partners-mranti-to-catalyze-cross-border-technological-progress/

Singapore Polytechnic partners MRANTI to catalyze cross border technological progress

Post-secondary education institution Singapore Polytechnic said in a statement that the duo have signed the memorandum of understanding (MOU) for the collaboration that encapsulates their shared vision and commitment to drive innovation, exchange knowledge and catalyze technological progress. Through the internship opportunities at MRANTI, Singapore Polytechnic students will be able to broaden their exposure to research and gain hands-on work experience in cutting-edge areas such as the development of drones and robotics. Both institutions will work together to develop an Exploration and Innovation platform inspired by Singapore Polytechnic’s Sustainable Innovation Project, a key aspect of Singapore Polytechnic’s core curriculum for their students to address real-life issues faced in society. Together, students from Singapore Polytechnic and the Malaysian universities, identified by MRANTI, will work on multi-disciplinary sustainability projects, leveraging design thinking methodology to address industry challenges. To nurture the spirit of technopreneur ship and entrepreneurship and promote cross-cultural collaborations, the students can also look forward to hackathons, ideathons, boot camps and facility visits. “We are thrilled to embark on this transformative partnership with MRANTI from Malaysia. We share a common dream of nurturing future leaders in innovation within vital sectors such as artificial intelligence (AI), sustainability, and manufacturing,“This partnership will also bring education out of the classroom beyond bordersMeanwhile, MRANTI Chief Executive Officer Dr Rais Hussin said that through this partnership, MRANTI will collaborate with Advanced Manufacturing Centre“Our joint venture aims to accelerate commercialization opportunities in various verticals, opening doors for businesses within the Singapore Polytechnic Innovation Ecosystem to explore soft landing opportunities in Malaysia through MRANTI,” he added. In addition to the MOU signing with MRANTI, Singapore Polytechnic will also be signing MOUs with other industry partners (AI Singapore, Singapore Environment Council [SEC], Singapore Manufacturing Federation [SMF], Smart i4.0 Transformation Alliance [SiTA], and TÜV SÜD). The collaboration between Singapore Polytechnic and AI Singapore will see the joint promotion of AI industry programs offered by both parties, industry benchmarking for AI readiness, AI learning resources and staff exchanges. As a national AI program launched by the National Research Foundation to anchor deep national capabilities in AI, AI Singapore (AISG) and Singapore Polytechnic’s Data Science and Analytics Centre (DSAC) will push to accelerate the adoption of AI in Singapore as well as grow AI proficient talent pools. Singapore Polytechnic will integrate AISG’s AI Data Apprenticeship Program (AIDP) into its Minor in Data & Artificial Intelligence, and sell AIDP program take-up for adult learners and companies. AISG will assist in strengthening Singapore Polytechnic’s experiential lab’s (XLab) staff capability to effectively support industry outreach for AISG’s programs through industry attachments with AISG. As for Singapore Polytechnic and SEC, both parties will jointly promote and conduct GreenDNA and Eco certification to encourage organizations to adopt a low-carbon lifestyle and green mindset via internationally recognized carbon emission reduction (CER) reports and GreenDNA certificate. Singapore Polytechnic staff will be trained by SEC as auditors to conduct the GreenDNA and Eco certification, enabling its students and staff to support SEC’s activities in promoting environmental sustainability. Students and staff from Singapore Polytechnic will also get the opportunity to be attached to SEC to serve as environmental ambassadors, such as Earth Helpers and undertake projects advancing the sustainability agenda. The collaboration between Singapore Polytechnic and TÜV SÜD will seek to create an ecosystem to empower enterprises to achieve sustainable manufacturing through three phases, namely, awareness and evaluation through Singapore Polytechnic’s Advanced Manufacturing Learning Journey (SP-AMLJ), implementation through the partner ecosystem and creating champions for the industry. Both partners will also develop content for workforce upskilling training programs with the application of sustainable manufacturing for enterprises, and conduct joint training and certification of workforce upskilling training programs. Singapore Polytechnic and SiTA, on the other hand, will work together on projects involving the setting up of an Advanced Manufacturing Learning Journey, which will house equipment for Pre-Employment Training, Continuing Education and training, and industry training. As for Singapore Polytechnic and the SMF, the duo will be collaborating on activities to drive sustainability efforts in the advanced manufacturing ecosystem, which will see manufacturers gaining an appreciation of the phasing of digital and sustainable technologies for the shop floor. They will explore innovative solutions, which will tailored to the specific needs of the manufacturing sector, rather than offering a generic off-the-shelf solution. SMF will co-develop, co-promote, and co-deliver a comprehensive series of programs together with Singapore Polytechnic, which are targeted at promoting sustainable solutions and best practices. Both partners will also nurture and develop local, sustainable manufacturing champions and a community of like-minded manufacturers who can demonstrate the effectiveness of enterprise adoption of sustainability technology and adherence to future sustainability standards. MRANTI launches Malaysia innovation matching platform to propel commercialization rate

https://technode.global/2023/10/18/uob-malaysia-launches-sustainability-accelerator-program-to-empower-and-accelerate-malaysian-smes-sustainability-journey/

UOB Malaysia launches Sustainability Accelerator Program for Malaysian SMEs

UOB MalaysiaUOB Malaysia said in a statement on Wednesday that the inaugural JT-SAP brings together over 150 SMEs and industry associations for a three-day workshop. Participants will acquire knowledge on international case studies, key trends, solutions and insights on sustainability to help them future-proof their businesses and improve their competitiveness. Cited the UOB Business Outlook Study 2023, UOB Malaysia said 84 percent of businesses in Malaysia consider sustainability to be important, but only 37 percent have started implementing sustainability practices within their organisations. It said the challenges to implementing environment, social and governance (ESG) practices in the survey include insufficient knowledge, upfront costs and lack of support. “As SMEs form about 98 per cent of businesses in the country, it is important for them to join the sustainability journey for Malaysia to achieve its net zero ambitions,” UOB Malaysia Chief Executive Officer Ng Wei Wei said. According to her, the Jom Transform Sustainability Accelerator Program is designed to equip SMEs with the right knowledge and tools to facilitate their transition,“By adopting green practices, SMEs will be able to better manage their business risks and leverage sustainability opportunities to carve out a competitive edge for themselves,” she added. It is noted that the JT-SAP leverages a comprehensive 3E (Evaluate, Engage, and Execute) Framework to enable businesses to accelerate their sustainability journey in a pragmatic manner. The program is delivered in collaboration with like-minded partners, including the Malaysian Green Technology and Climate Change Corporation (MGTC), Capital Markets Malaysia (CMM), PricewaterhouseCoopers Malaysia (PwC), Green Real Estate (GreenRE), and Thoughts In Gear (TIG). Together with the JT-SAP, UOB Malaysia also rolled out the UOB Sustainability Compass to help local SMEs overcome their inertia and kick-start their sustainability journey. First launched in Singapore last year, the UOB Sustainability Compass takes “simplifying sustainable financing” a step further by providing businesses with customised reports based on their sectors and sustainability readiness. Developed with PwC, the UOB Sustainability Compass report guides SMEs through a roadmap that identifies the different phases of becoming sustainable. They are educated on the regulations, standards, and certifications that affect their sectors and are recommended sustainable financing solutions to kick-start their sustainability initiatives. According to the statement, during the JT-SAP workshop, participating SMEs have the opportunity to evaluate their sustainability maturity stages and receive personalized UOB Sustainability Compass reports which outline actionable steps and data points to further develop concrete ESG plans. “ESG compliance has become increasingly enforced by consumers, regulators and global companies throughout their supply chains. While many SMEs understand the importance of pivoting their practices to reduce their carbon emissions, they require more assistance to kick-start their green journey, “With the UOB Sustainability Compass, the bank hopes to value-add by hand-holding these businesses to overcome their initial barriers,” said Beh Wee Khee, Managing Director and Country Head of Commercial Banking, UOB Malaysia. UOB Malaysia is a subsidiary of Singapore-based UOB, a bank in Asia with a global network of around 500 offices in 19 countries and territories in Asia Pacific, Europe, and North America. With over seven decades of presence in Malaysia, UOB Malaysia operates 55 branches in the country, offering both conventional and Islamic banking services to its customers. Sunview partners UOB Malaysia to help Malaysian businesses and consumers adopt renewable energy

https://technode.global/2023/10/18/malaysias-redtone-partners-uks-informed-solutions-to-supercharge-digitalization-agenda/

REDtone partners UK’s Informed Solutions to supercharge Malaysia’s digitalization agenda

Malaysian digital service provider Offered for the first time in Asia, these offerings, which are powering the United Kingdom and Australian governments’ digital transformations, aim to achieve a two-pronged objective: boost the Malaysian government’s agenda to build an enabling eco-system to increase the nation’s competitiveness, and empower the locals,” REBtone said in a statement on Tuesday. “Our partnership is timely in light of the government’s focus to build a more robust and integrated public sector ecosystem, roll-out of 5G infrastructure, as well as the push to advance inclusiveness,” REDtone’s Chief Executive Officer Lau Bik Soon said. He also said the AI powered digital solutions can supercharge the country’s transition towards an integrated public sector ecosystem. “This will foster a greater level of collaboration and synergy, which will enhance transparency, optimize resources and effectiveness, “In turn, these will strengthen Malaysia’s proposition as a key investment destination, while delivering citizen-centric services across the entire public sector,” he said. In addition, with the AI derived data and insights, he said government agencies will be able to develop new as well as innovative services and products. “We can also accelerate the agencies’ digital transformation by empowering public servants to level up their technical expertise in the areas of data, AI, and cybersecurity,” he added. MyDIGITAL Corporation’s Chief Executive Officer Fabian Bigar said that the successful digital development of the Malaysian economy will rely on local innovators and service providers collaborating with organizations that are able to share world class innovation and digital service implementation expertise, whilst up skilling local workforces so that Malaysia’s digital development is sustainable. “This partnership is a great example of mutual benefit to both organizations and the communities they serve,” he said. Informed Solutions’ Chief Executive Officer Seth Finegan said the partnership allows the firm to offer world class digital services to local communities, opening-up opportunities for sustainable growth and development. “We are proud to be amongst the strategic digital suppliers to the United Kingdom government, “Our current programs are responsible for accelerating and de-risking many of the most significant, national-scale digital transformations and data science, worth over £20 billion ($24 billion) to the United Kingdom economy that the government is running to transform the healthcare, policing and emergency services, environment and land management, transport, energy transition, and citizen engagement sector,” he said. Formed in 1992, Informed Solutions is an international provider of digital transformation, technology, data analytics and systems integration services and platforms that support large-scale digital transformation. The firm’s clients are globally recognized public and private sector brands operating in a variety of sectors including government, civil defence, healthcare, sustainable environment, land asset management, citizen engagement and transport. Listed on Bursa Malaysia, REDtone is a subsidiary of Berjaya Corporation Berhad. The firm is an integrated telecommunications and digital infrastructure services provider. Founded in 1996, REDtone has evolved from a voice provider to one that offers an extensive range of services under three main categories: telecommunications services; managed telecommunications network services and industry digital services. BMI sees Petronas’ private 5G deployment adds momentum to Malaysian digital transformation

https://technode.global/2023/10/18/chinas-longi-invests-380m-to-set-up-solar-pv-manufacturing-base-in-malaysia/

China’s LONGi invests $380M to set up solar PV manufacturing base in Malaysia

Chinese photovoltaics company LONGi said in a statement on Tuesday that the firm has officially launched the first phase of its Serendah Module Plant in Malaysia. Located in Serendah, Selangor state on Malaysia’s west coast, this facility is an integral part of LONGi ‘s manufacturing strategy in the country. According to the statement, the commencement of operations at the LONGi Serendah Module Plant symbolizes the completion of a holistic photovoltaic industry chain in Malaysia. This marks a pivotal moment in LONGi’s global endeavors. The 140-acre module factory represents LONGi ‘s inaugural manufacturing presence in West Malaysia. The facility boasts cutting-edge technology and equipment from the contemporary photovoltaic sector. It’s slated for a two-phase construction, with a combined capacity of 8.8GW (2.8GW in the first phase and 6GW in the second). With the first phase now operational, the second phase has already been initiated. Presently, the Serendah Module Plant has generated roughly 900 local employment opportunities, a number anticipated to exceed 2,000 in the coming timesBahria, a representative of the Malaysian Ministry of International Trade and Industry, emphasized Malaysia’s steadfast commitment to sustainable growth. “We envision Malaysia as a central hub for global trade and industry, fostering an environment that champions innovation, sustainable expansion, and technological prowess,“Today’s inauguration of the LONGi Serendah Module Plant is a testament to our collaborative strides with LONGi towards achieving sustainable development. With the global photovoltaic market poised for significant growth, Malaysia stands at the cusp of green revitalization – a fact that fills us with immense pride,” she said. Since venturing overseas in 2015 and establishing a foothold in Malaysia in 2016, LONGi has sequentially launched operations in silicon rod, wafer, cell, and module manufacturing in Kuching and Bintulu, Sarawak. Their first international base, located in Kuching, is also the world’s premiere vertically integrated monocrystalline silicon solar manufacturing unit. To date, LONGi ‘s investments in Malaysia have reached a commendable MYR 5.4 billion ringgit ($1.14 billion). Emphasizing localized growth, LONGi ‘s workforce in Malaysia has burgeoned from an initial 570 to over 8,000 in 2023. “After marking our presence in East Malaysia, we’re now setting our sights on West Malaysia, with the new facility in Serendah, Selangor, “Beyond bolstering the local economy, this venture will also significantly aid Malaysia in its pursuit of sustainable development goals and in its ambition to lead decarbonization efforts in the Asia-Pacific,” said Li Wenxue, Vice President of LONGi. Recognizing Malaysia’s robust international logistics, talented workforce, and a government that’s resolutely pro-sustainability, he said the firm has also resolved to set up LONGi’s Asia-Pacific headquarters in Kuala Lumpur. “This will synergize with our Malaysian production base, further augmenting LONGi ‘s brand resonance in the region,” he added. Founded in 2000, LONGi is a solar technology company focusing on scenario energy transformation. The firm has established five business sectors, covering mono silicon wafers cells and modules, commercial and industrial distributed solar solutions, green energy solutions and hydrogen equipment. The company has honed its capabilities to provide green energy and has more recently, also embraced green hydrogen products and solutions to support global zero carbon development. As a forerunner in the global green energy realm, LONGi said it is unwavering in its commitment to technological innovation. The company aspires to spearhead the solar photovoltaic industry’s evolution, fostering a green global energy shift and aligning with the United Nations’ Sustainable Development Goals for 2030. Abu Dhabi’s Masdar to invest $8B in renewable energy projects in Malaysia

https://technode.global/2023/10/16/malaysias-ni-hsin-inks-deal-to-promote-electric-mobility/

Malaysia’s Ni Hsin inks deal with USM, FOCUS and TAILG to promote electric mobility

Ni Hsin EV Tech Sdn. Bhd. (NH EV TECH)Ni Hsin said in a statement on Monday that NH EV TECH has signed a collaboration cum donation agreement (CDA) with the trio with the aim to assist Malaysia to promote electric mobility, particularly 2&3 wheelers and demonstrate the viability of existing electric 2-wheelers to perform significant useful work in the Malaysian transportation environment. Under the CDA, the parties have agreed to establish collaboration and explore opportunities to develop, support and enrich the research activities, educational programs and training in their respective fields of expertise, thus creating synergistic benefits to all parties. TAILG will donate fifty units of EBIXON BOLD electric motorcycles assembled by NH EV TECH for USM to track and collect related data with the support from FOCUS who will provide the hardware, installation, and commissioning on the vehicles for the tracking and data collection. The vehicles will be assigned to selected end-users with different vehicular needs in order to quantify the vehicles performance and applicability to different situations. The performance measurements of the vehicles shall include top speed, range, battery capacity, etc. NH EV TECH’s role shall be to ensure the fifty units of EBIXON BOLD electric motorcycles are legally licensed and fit to be used on the road and to coordinate the distribution of the vehicles to the selected end-users for the study. The vehicles will be provided free of charge to various end users for a period of one year during which USM will conduct vehicle testing, tracking, data logging, operator questionnaires and interviews, and end of project vehicle inspection. At the end of the study the end user may be qualified to receive the electric motorcycle permanently. “We are delighted to participate in this Study which will provide insight on the various aspects of utilization of the electric two-wheeler in Malaysia so that we are able to make improvements to its design and features to meet the expectations of the consumers, “This will enhance its appeal to the public and encourage faster EV adoption,” said Khoo Chee Kong, Managing Director of NH EV TECH. According to him, this strategic collaboration enables the parties to contribute to public education and awareness of the viability of using electric two-wheelers to aid the Malaysian government’s commitment to low carbon initiatives, as outlined in the National Low Carbon Cities 2030 plan. NH EV TECH is in the business of manufacturing, assembling, promoting and marketing of all kinds of electric vehicles (EV) and accessories and development of concepts, facilities and fittings using EV battery systems for the delivery industry. The focus of NH EV TECH is in smart mobility and its applications with safer and more efficient charging in a sustainable and environmentally-friendly model. Ni Hsin EV Tech plans for IEO fundraising through utility tokens issuance for EV business

https://technode.global/2023/10/14/budget-2024-malaysia-federal-govt-plans-to-adopt-evs-as-official-vehicles/

Budget 2024: Malaysia federal govt plans to adopt EVs as official vehicles

Malaysia said on Friday its federal government plans to adopt electric vehicles (EV) as official vehicles as national utility firm Tenaga Nasional Bhd (TNB), Gentari and Tesla invest over MYR170 million ($35.96 million) to establish EV charging stations. This is one of the several EV-centric initiatives announced in the Budget 2024. Government will also extend up to MYR2,500 ($528.73) income tax relief for EV charging facility expenses for a period of four years, and tax deduction for EV rental cost for two years, Prime Minister Anwar Ibrahim announced on Friday. In his budget speech to parliament, he said the country’s public transport operator Prasarana Malaysia Bhd will acquire 150 electric buses and build three bus depots at a cost of MYR600 million ($126.9 million). Besides, Anwar said the government will provide up to MYR2,400 ($507.59) rebate for the purchase of electric bikes to buyers with annual income below MYR120,000 ($25,379) under its Electric Motorcycle Use Promotion Scheme. These announcements also comes amid the Malaysian government continues its effort to develop the country’s EV sector to become an EV powerhouse in the region or a hub in the global production and supply chain of EVs. On a separate matter, the government will also strengthen the venture capital environment through the centralization of venture capital agencies such as Penjana Kapital and Malaysia Venture Capital Management Bhd (MAVCAP) under the sovereign wealth fund Khazanah Nasional Berhad. Malaysia also said it would introduce a capital gains tax and a tax on high-value goods and gradually cut subsidies. Malaysia’s economy is expected to sustain economic growth of 4 percent to 5 percent in 2024 while the GDP growth for the year 2023 is projected at approximately 4 percent. Several other tech and investment-related announcements include: ​​- Putrajaya to serve as Malaysia’s low carbon city model, with govt buildings set to have solar panels installed in partnership with TNB and Gentari. – To stimulate companies to invest in high-growth and high-value areas (HGHV), govt plans to provide a tiered reinvestment tax incentive in the form of an investment tax allowance of 70 percent to 100 percent– Government-linked companies and government-linked investment companies (GLICs) will provide funds of up to MYR1.5 billion to encourage startups including Bumiputera SME entrepreneurs to venture into high growth and high value (HGHV) fields such as the digital economy, space technology and electronics and electrical– Government to allocate MYR28 million to develop the MYStartup platform as a single window for start-ups. This initiative will optimize MYR200 million fund under various funding agencies and venture capital under a single platform. – To build a wider ecosystem for the E&E cluster in the northern region, the government will open a high-tech industrial area in Kerian, North of Perak stateTo support capital funding for startups:– First: allocation of MYR100 million to Malaysia Co-investment Fund (MyCIF) for a period of three years to complete the cooperation with food security initiatives, environment, the community and the State Islamic Religious Council to create opportunities for developing waqf assets for health, education and agro-based enterprises. – Second: tax incentives for individual investors investing in startups through the equity crowdfunding platform (ECF) will also be extended to individual investors through limited liability partnership 40 nominee companies and extended until Dec 31, 2026. – Third: tax incentive for angel investors extended until Dec 31, 2026 to encourage capital in technology related startups. Malaysia’s Science ministry proposes initiatives to enhance startup ecosystem, STEM education to be included in Budget 2024

https://technode.global/2023/10/13/malaysias-sime-darby-motors-partners-gentari-to-drive-green-mobility-and-clean-energy-solutions/

Malaysia’s Sime Darby Motors partners Gentari to drive green mobility and clean energy solutions

Malaysian automotive player Gentari said in a statement on Thursday that its subsidiary Gentari Sdn Bhd has signed a Memorandum of Understanding (MoU) SDM for the partnership. The MoU will entail SDM and Gentari exploring opportunities to establish EV charging stations and related EV charging infrastructure at SDM’s automotive facilities across Malaysia, as well as in SDM’s other regional markets. To further enhance accessibility and convenience for customers, the MoU will also explore establishing EV charging facilities beyond SDM showrooms, such as at golf clubs, hotels, and healthcare centres, amongst other potential locations. In addition, to encourage EV adoption amongst Malaysians, the collaboration will also look at value-added services for SDM customers. These services may include EV charging subscription plans, personalized home charging packages, portable charging services, and flexible mobile charging solutions, amongst others. The MoU will also explore a potential partnership for EV fleet solutions, catering to the evolving needs of businesses and governments looking to transition to cleaner and more sustainable transportation alternatives. Other joint projects and initiatives aimed at enhancing EV adoption, improving infrastructure, or developing new EV-related products or services will also be considered. Alongside this, recognizing the pivotal role of renewable energy, the MoU will also explore solar energy projects, such as solar energy system installations and solar energy storage solutions. “This MoU underscores our commitment to shaping a sustainable future through low carbon mobility,“We look forward to working with Gentari to accelerate environmental friendly technologies and solutions for the automotive sector, particularly to support the EV eco-system which continues to grow in Malaysia,” said Jeffrey Gan, Managing Director of Retail and Distribution of Sime Darby Motors Southeast Asia, Hong Kong, and MacauGentari’s Deputy Chief Executive Officer and Gentari Green Mobility Chief Executive Officer Shah Yang Razalli said that the firm aims to lead the way in sustainable transportation and clean energy solutions, and this collaboration marks an important stride towards a larger initiative covering the Asia Pacific region. “Leveraging SDM’s established track record and extensive regional footprint and our expertise, we are set to pave the way for a broader alliance that will unite various original equipment manufacturers (OEMs) within the SDM portfolio,“Together, we are strongly positioned to lead the charge in low-carbon mobility and the transition to sustainable energy, in creating a better future for the coming generations,” he added. Malaysia’s Gentari rebrands WIRSOL Energy to officially commence operations in Australia

https://technode.global/2023/10/13/tiktoks-compliance-with-malaysian-laws-is-still-unsatisfactory-says-communications-minister/

TikTok’s compliance with Malaysian laws is still “unsatisfactory”, says Communications Minister

Social media platform TikTok’s compliance with Malaysia’s laws was still “unsatisfactory” and needed to be rectified promptly, the communications minister said on Thursday. In a Facebook post after meeting TikTok representatvies, Minister Fahmi Fadzil also said TikTok has not done enough to curb defamatory or misleading content in Malaysia. He added that TikTok also had to address issues related to content distribution and advertising purchases following complaints. Fahmi also said TikTok had assured him it would cooperate with the government and that its shortcomings were due to not having a representative in Malaysia at present. “During the discussion, I emphasized that TikTok needs to operate according to Malaysian guidelines and laws. TikTok must also be more proactive in curbing the spread of fake news and defamatory material spread on the platform, including the spread of ‘Coordinated Inauthentic Behaviour’ (CIB),” he wrote. A discussion involving the Ministry of Communications and Digital (KKD), Malaysian Communications and Multimedia Commission (MCMC) and TikTok will be held next week, he said. This was being scheduled following his meeting with the social platform’s top management, led by TikTok global vice president Helena Lersch, national news agency “… we also touched on Tiktok Shop and I have requested additional information from TikTok Shop which will be examined by KKD in these coming weeks,” he told reporters on Thursday. Fahmi said the situation in Malaysia is different from Indonesia, which has banned e-commerce transactions on TikTok, adding that the government must consider several factors before making any further decisions, according to the report. “I have requested some information from TikTok Shop to fully understand the situation including matters mentioned by President Jokowi such as predatory pricing, data sharing and data sovereignty. We have conveyed it to TikTok Shop and they will provide feedback. We will examine this feedback and will act afterwards, if necessary,” he was quoted as saying. Owned by Chinese firm ByteDance, TikTok has recently come under scrutiny in Southeast Asia. Last week, Indonesia’s government has halted transactions on its platform following a ban on e-commerce trade on social media. It was reported that Vietnam probes the app for “toxic” content. Indonesia bans e-commerce transactions on social media platforms such as TikTok – report

https://technode.global/2023/10/12/bmi-sees-petronas-private-5g-deployment-adds-momentum-to-malaysian-digital-transformation/

BMI sees Petronas’ private 5G deployment adds momentum to Malaysian digital transformation

BMI Industry Research said Thursday that Malaysian energy group The Fitch Group research unit said in a note that in BMI’s view, private 5G networks will be critical enablers of digital transformation for large enterprises in many different industries across Southeast Asia over the next five years. “In Malaysia, for the most part, these will pivot around collaborations between enterprises and licensed mobile network operators as spectrum is currently tied to the individual operators (3G/4G) and the state-owned 5G platform Digital Nasional Berhad (DNB),” it said. In this regard, the research house believes that if more enterprises were to deploy private 5G networks, this would make the planned second state-owned 5G platform more commercially viable than it would otherwise be and provide the government with a direct pipeline to all industries looking to leverage 5G for their technological transformations. In this respect, it believes that the first steps being made by a large and economically important company like Petronas is crucial in encouraging other enterprises – public and private – in following suit. “We do, however, highlight that that 5G is only one of many wireless connectivity technologies available to enterprises and alternatives such as WiFi6 or WiFi7, as well as low-power wide area network (LP-WAN) solutions that can also be used to facilitate many of the applications and solutions that Petronas (and others) will want to implement over the next decade,” it said. According to the research house, these can be used in tandem with 5G or as standalone platforms in different parts of the business. BMI also noted that private 5G will support the advancement of automation and control, increasing operational efficiencies through applications such as remote logistics and fleet management, enhanced safety and location-specific workflow processes for workers, the use of low-latency critical infrastructure through smart sensors etc. It believes enterprises in industries as diverse as agribusiness, infrastructure, healthcare provision, manufacturing, logistics, heavy industries and education will be looking to adopt wireless technologies to support their evolution over the coming years. It also said a successful deployment by Petronas could well stimulate demand across these sectors, particularly if the government actively encourages and supports its use. It is noted that in early October, the Minister of Communications in Malaysia noted that a total of 5,873 base stations had been deployed within the DNB’s nationwide 5G network, with 70.2 percent of population covered. At that time, a total of 2.49 million 5G subscriptions had been registered, claimed to be an adoption rate of 7.4 percent. “We expect this number to rise to 2.93 million by the end of 2023, growing to 34.08 million by the end of 2032 (59.4 percent of all mobile connections). This number is likely to be swelled considerably by the introduction of machine-based connections served by enterprise-grade 5G networks,” BMI said. Last Friday, Petronas announced that it has successfully adopted 5G private network at its Regasification Terminal Sungai Udang (RGTSU) in Melaka, the first in Malaysia to adopt the 5G technology for enterprise use. It said the deployment of 5G private network by Petronas is expected to optimize its internal operations and induce industry-wide change. It is noted that the event exhibited the aspirations under the Ekonomi MADANI and the New Industrial Master Plan 2030 (NIMP 2030) framework, which sets technology as the catalyst for a thriving and prosperous nation. “As we embark on this transformative journey, it’s crucial to acknowledge the integral role cutting-edge technologies play, 5G’s fast connectivity, low latency, and capacity to handle massive data flows will empower our industries to innovate, compete and excel on a global scale,” said Haji Fadillah, Deputy Minister of Malaysia. According to the statement, the Malaysian Communications and Multimedia Commission (MCMC) is working closely with mobile service providers to deploy 5G standalone networks that will foster more use case development across industries in Malaysia. It said Malaysia is also well on track in its target to achieve 80 percent 5G network coverage in populated areas by the end of 2023. Petronas said that the deployment of the Petronas 5G Private Network sets the stage further for collaborative developments between the government, private sector, and academia to fully unlock the potential of 5G technology. Additionally, through Ekonomi MADANI and the NIMP 2030, it said focus will be given to nurturing local talents in ensuring the workforce possesses adequate skills and expertise to drive forward the digital future. Petronas Senior Vice President of Project Delivery and Technology Bacho Pilong said that the deployment of the 5G private network at RGTSU Melaka, has improved operational efficiency and safety, supporting its business and sustainability targets. “Our strategic adoption of 5G technology sets us ahead in the energy industry, “By combining 5G with Internet of Things (IoT), Artificial Intelligence (AI), and automation, we’re putting Open Petranas as among the leaders in the global technological race, while ensuring we meet the demands of supplying safe, reliable, cost-optimized and emission abated energy solutions for Malaysia and our customers globally,” he added. Petronas, Gentari, Amazon and AWS team up to accelerate clean energy growth

https://technode.global/2023/10/11/drb-hicom-geely-set-framework-for-development-of-automotive-hi-tech-valley/

Malaysia’s DRB-Hicom and China’s Geely set framework for development of Automotive Hi-Tech Valley

Malaysian conglomerate DRB-Hicom said in a statement that the MCA sets forth the underlying principles, governance framework and mutual commitment of the AHTV project in Tanjong Malim, State of Perak, including specific roles to be undertaken for development and promotional initiatives. AHTV will be a next generation international vehicle hub in Tanjong Malim covering extensive automotive and mobility solutions across the value chain, from a full fledge high technology global research and development center, to world-class automotive original equipment manufacturers (OEMs) players, manufacturing cluster as well as supporting services and associated ecosystem including logistics, research university, training and learning institutions within a smart city. The signing of the MCA brings the collaboration between DRB-HICOM and Geely Holding to the next stage. It is a key milestone in the collaboration as it provides a formal engagement platform for Parties towards achieving the AHTV intended and agreed objectives. The agreement sets forth the underlying principles, governance framework and mutual commitment of the AHTV project, including specific roles to be undertaken by Parties for its development and promotional initiatives. This latest development follows the signing of the heads of agreement (HOA) by DRB-Hicom and Geely Holding earlier this year at the Malaysia-China Business Forum in Beijing. Geely Holding’s strategically invested Zhejiang Geespace Technology Co. Ltd. (Geespace) has also signed HOA with Malaysian digital player Altel Communications Sdn. Bhd. (Altel) to focuses on the development and implementation of high technology systems and will expedite the deployment of innovative solutions within sectors like smart ports. According to the statement, AHTV will attract investments both locally and from overseas which will propel it to become an international automotive hub for new energy vehicle (NEV). Its focus will not only be on the production of automobiles of various makes, but also in the manufacturing of high-technology components and parts for NEVs. This will further expand the capability of local vendors towards specializing in high technology manufacturing. Other than promoting the cooperation of new energy vehicles, DRB-Hicom and Geely also plan to construct of the auto-components industrial park; promote the development of the new automotive industrial city; and any other initiatives relating to AHTV. DRB-Hicom is one of Malaysia’s group of companies with core businesses in the automotive, aerospace and defence, banking, postal, services, and property sectors. In the automotive sector, DRB-Hicom is involved in the manufacturing, assembly and distribution of passenger and commercial vehicles, including the national motorcycle. Malaysia’s DRB-Hicom partners China’s Geely to develop Automotive High-Tech Valley in Malaysia

https://technode.global/2023/10/11/japans-ntt-launches-50m-data-center-in-malaysia/

Japan’s NTT launches $50M data center in Malaysia

NTT LtdIn a joint statement on Tuesday, NTT and Malaysian Investment Development Authority (MIDA) said that NTT through its subsidiary NTT Global Data Centers Corporation has announced the launch of its new data center in NTT Cyberjaya campus. They said the facility, aligns with Malaysia’s digital growth vision, aiming for Malaysia to be an ‘Asian Digital Tiger’ by 2025. Cyberjaya 6 (CBJ6), the sixth data center on NTT’s campus, has a critical IT load of 7MW, 4,890m2 of space, two 33kV substations with diverse power reception and advanced cooling wall technology to maintain a stable environment for high density racks up to 15kW. CBJ6 complements the Cyberjaya 5 (CBJ5) Data Center, built in 2021. The combined facility has 20,000m2 of space and a facility load of 22MW. “NTT’s continuous expansion in Malaysia is a strong testament to the company’s confidence in Malaysia’s capability as a data center hub in the regions,” said Arham Abdul Rahman, Chief Executive Officer of the MIDA. “Aligned with the New Industrial Master Plan 2030 (NIMP 2030), MIDA will continue to attract strategic high-tech projects that will position Malaysia as a digitally connected nation, characterised by extensive and reliable digital infrastructure,” he said. He also Asia’s rapid growth, amid economic uncertainty in developed economies, has led multinational companies to increase digital investments to support their expanding businesses in the region. “Malaysia has garnered a strong reputation in the global data center sector, particularly in the Southeast Asia region,” he added. Cited the “Malaysia – Data Center Market 2023-2027” report published by Technavio, he said the country’s projected data center market size is estimated to grow at a compound annual growth rate of 16.15 percent between 2022 and 2027 and is forecast to increase by 2.91 billion. Takeshi Kimura, Managing Director of NTT Global Data Centers Holding Asia, said that after enduring several years of the pandemic, companies worldwide are now swiftly moving to make up for lost time. “Particularly in Southeast Asia, many hyperscalers are keenly interested in establishing a robust IT platform,“They recognise that by selecting NTT as their partner—a company with longstanding responsibility for managing networks, submarine cables, and data centers in Asia, they can address many challenges and drive their business effectively,” he said. Ho Yee Chung, Managing Director of NTT Global Data Centers Malaysia, also said that over the past two decades, NTT Cyberjaya campus has evolved in sync with Malaysia’s digital growth. “NTT Global Data Centers Malaysia proudly maintains 24/7 high availability, thanks to our skilled team of 60 engineers and operators, “With CBJ6’s launch, we believe we’re the prime provider of data center services, offering modern facilities and expertise that the hyperscalers in Malaysia need,” he added. Doug Adams, Chief Executive Officer and President of NTT Global Data Centers and Submarine Cable, said that NTT’s expansion in Cyberjaya demonstrates the firm’s consistent capacity expansion in existing and new data center markets. “The five Cyberjaya data centers have already empowered hyperscale enterprises, and with this new site, we reaffirm our commitment to delivering reliable infrastructure that can support the demands of our clients’ digital transformation ambitions in Southeast Asia, “With their demand involving the acceleration of generative artificial intelligence (AI), our data center capacity (including planned) will soon reach 2,000 MW worldwide,” he added. According to the statement, the soon-to-commence submarine cable MIST, constructed by NTT as one of the shareholders, is poised to revolutionise connectivity at the NTT Cyberjaya Data Center, elevating Malaysia’s global network connectivity and contributing to sustainable socio-economic growth. Spanning an impressive 8,100 km, it will seamlessly connect Malaysia, India, Singapore, and Thailand, boasting a 12-fiber pair capacity capable of transmitting over 200 TBPS of data. Malaysia’s Solarvest partners Centexs, Huawei, Greenbay to launch hyperscale green data center testbed and training program

https://technode.global/2023/10/11/abu-dhabis-masdar-to-invest-8b-for-renewable-energy-projects-in-malaysia/

Abu Dhabi’s Masdar to invest $8B in renewable energy projects in Malaysia

Abu Dhabi Future Energy Company PJSC – The duo said in a statement on Tuesday that they have signed a Memorandum of Understanding (MoU) with the Malaysian Investment Development Authority (MIDA) to develop up to 10 gigawatts (GW) of renewable energy projects in a strategic partnership that will significantly contribute to Malaysia’s sustainable energy transformation. According to the statement, the collaboration marks an important milestone in the pursuit of a sustainable and greener future for Malaysia. MIDA said it will facilitate Masdar to develop the renewable energy projects by 2035, to include ground mounted, rooftop and floating solar power plants, onshore wind farms and battery energy storage systems. “This important agreement will see the UAE and Malaysia deepen our partnership in the development of renewable energy, directly supporting the nation’s National Energy Transition Roadmap,” said Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Chairman of Masdar and COP28 President-Designate. He said the projects further demonstrate Masdar’s and the UAE’s commitment to supporting countries across the world, decarbonising economies at home and abroad, for a just and inclusive energy transition. Malaysia’s Ministry of Investment, Trade and Industry (MITI) Minister Zafrul Aziz said that it is imperative that the two countries further strengthen Malaysia-UAE bilateral ties and relationship across various industries to help them navigate global uncertainties and identify opportunities that are of mutual benefit to both nations. “The UAE – particularly through Masdar – has set a commendable example in its national pursuit of sustainability, with its recognised leadership in clean energy, low-carbon and nature-based solutions, “This MIDA-Masdar collaboration is in perfect alignment with the objectives stipulated in our New Industrial Master Plan 2030 (NIMP 2030) and the National Energy Transition Roadmap (NETR) in achieving sustainability and energy security for Malaysia’s industrial transformation,” he said. Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said that as a global clean energy pioneer with a proven track record in the commercialisation and deployment of renewable and clean energy projects, the firm is proud to play its part in helping Malaysia achieve its ambitious target of 70 percent renewable energy installed capacity and net-zero emissions by 2050. “We will bring all our expertise in delivering robust projects, that utilise cutting-edge technologies and generate much needed energy efficiently, to advance Malaysia’s renewable energy goals,” he said. MIDA Chief Executive Officer Arham Abdul Rahman, said that the partnership with Masdar represents a pivotal stride in realizing Malaysia’s sustainable energy aspirations. He said the partnerships underscore the agency’s commitment to driving positive change and embracing the transition towards a greener, more sustainable future. “MIDA has proactively and enthusiastically engaged with industry partners in the country to foster innovation and cultivate solutions that are aimed at reducing carbon emissions, “Our efforts are not limited to the present; they extend into the future, as we recognise the growing importance of renewable energy sources,” he said. Established in 2006, Masdar is a firm advancing the development and deployment of renewable energy and green hydrogen technologies. The firm is active in more than 40 countries with a total electricity generation capacity of more than 20GW. It has invested, or committed to invest, in worldwide projects with a combined value of more than $30 billion with ambitious growth plans to reach 100GW and 1 million tonnes of green hydrogen by 2030. The firm is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA). Malaysia’s TNB partners Laos’s EDL to boost cross-border renewable energy trade

https://technode.global/2023/10/11/malaysia-stock-exchange-tng-digital-affin-hwang-team-up-to-broaden-share-trading-services-in-malaysia/

Malaysian stock exchange, TNG Digital, Affin Hwang team up to broaden share trading services in Malaysia

Malaysian bourse The trio said in a statement on Tuesday that they have signed a memorandum of collaboration (MoC) to enable investors to easily participate in the stock market through the TNGD digital platform. According to the statement, this initiative is part of the exchange’s ongoing efforts to democratize equity investments and promote financial inclusion among Malaysians. Through this collaboration, retail investors will be able to access a wider array of investment products listed on Bursa Malaysia via the Touch ‘n Go (TNG) eWallet’s GOinvest feature. The feature will enable investors to seamlessly invest and monitor their GOinvest portfolios, all within a single app, with a user-friendly interface and robust security measures in place to ensure peace of mind. AHIBB, as the broker partner, will assist investors by offering greater market access, comprehensive research resources, real-time market data and responsive customer support, to enrich their trading experience. “Bursa Malaysia believes a marketplace that is inclusive is essential for a financially empowered society,” said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia. “Towards this, we will continue to innovate and introduce new ways for retail investors to confidently participate in, and benefit from numerous opportunities available within the Malaysian capital market, “This MoC is an excellent demonstration of how various industry players can collaborate and contribute towards this goal,” he added. TNGD Chief Executive Officer Alan Ni also expressed his optimism about the significant impact that this collaboration will bring forth to eWallet users and all Malaysians. “This collaboration aligns with our vision of breaking financial barriers and making financial services, including investments, accessible to all, “Together, we can continue to empower Malaysians to make informed financial decisions, while enabling them to enjoy a hassle-free and secure share trading experience,” he added. Meanwhile, AHIBB Chief Executive Officer Nurjesmi Bin Mohd Nashir said that the MOC marks the start of a beneficial and symbiotic partnership, formalizing their shared intention to democratize investment opportunities and financial inclusion among Malaysians. “It establishes the framework for the sharing of thoughts, information and experiences that will unquestionably result in advancement in the Malaysian stock market,“This important recognition demonstrates our persistent dedication to delivering seamless, comprehensive, and relevant digital experiences that go beyond banking, placing our clients and their ever-evolving needs at the heart of our proposition,” he added. In addition to offering trading services, the TNG eWallet’s GOinvest feature will host educational investment content. The content will be curated together with Bursa Malaysia and will cover topics such as fundamentals of investing and introduction to various investments available on Bursa Malaysia, including Exchange-Traded Funds (ETFs). This will be beneficial to equip retail investors, especially the younger demographic and those new to investing, with the knowledge needed to trade confidently in the stock market. Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange

https://technode.global/2023/10/10/worq-raises-pre-series-b-funding-at-an-up-round-on-the-back-of-profitability/

WORQ raises pre-series B funding at an up-round on the back of profitability

WORQWORQ said in a statement on Tuesday that the global asset management firm, Phillip Capital, helms this round with its largest placement to-date and its third consecutive investment into WORQ. It said the achievement underscores WORQ’s exceptional track record of profitability and its dominant market position. While this internal pre-Series B round primarily caters to its existing investors, it said preparations are underway for a Series B round with external investors in the near term. According to the statement, the funding raised will be fully utilized for space expansion. WORQ said it is currently on track to double its space under management by the end of 2023 and aims to triple that space to 450,000 square feet by 2025. Looking ahead, WORQ sees the opportunity to become the best space-as-a-service provider with the widest office network in Malaysia. The company aims to become the ‘Amazon of office spaces’ by providing scalability to office users, similar to that of Amazon Web Services in cloud computing. The firm also has plans to further expand its space under management to a sizable 3,000,000 sqft by 2030. To date, WORQ has incubated 300 startups and 100 tech companies with plans to enable over 10,000 workers by 2025. “Southeast Asia has become a prime location for many businesses looking to diversify and build their global supply chain， “The Malaysian market is strategically positioned to capture these opportunities as we are a diverse, multilingual country with an educated talent pool and a robust SME supply chain,” said Stephanie Ping, Chief Executive Officer and Co-Founder of WORQ. As a growing economy, she said they must improve the ease of doing business in Malaysia by making hiring easier for companies. She noted that infrastructure issues can be a significant hurdle for businesses looking to invest in a new market and WORQ’s innovative Space-As-A-Service model provides clients scalability and flexibility through its network of cloud offices. According to her, the firm has built a network of one-stop business centers that serve as vital infrastructure for foreign and local business formation in Malaysia. “We see this as a foundational part of the cycle of job creation, upskilling and knowledge transfer,“This vibrant business ecosystem will create high-income jobs to secure Malaysia’s long-term sustainable development,” she added. In 2023, WORQ achieved strong revenue growth of 80 percent while maintaining mid-teen net profit margins. This success is attributed to WORQ’s demand-centric strategy, which aims to achieve both outstanding risk management and hypergrowth simultaneously. WORQ noted that the demand for flexible office space continues to accelerate, with the firm achieving an average of two months to fill its new space expansions. In addition to its traditional coworking clientele, which includes tech startups and small and medium-sized enterprises (SMEs), WORQ is experiencing increasing demand from global firms expanding into the region. It said corporate clients are prioritizing agility and choose to use coworking spaces because they can swiftly deploy and go-to-market quickly while remaining asset-light. It is note that corporate clients now account for 70 percent of WORQ’s demand compared to only 20 percent before the pandemic. Recognizing this trend, it said several landlords and Real estate investment trusts （REITs） are partnering with WORQ to provide these solutions to their buildings, gaining a competitive edge in attracting additional tenants and subsequently boosting rental yields. “As an investor of WORQ, we have witnessed the rapid growth and the world-class services they provide. WORQ’s adept cost management and efficient growth strategy positions them as a scalable and sustainable business model, capable of competing not just locally but also on a global scale, “We value founders who can anticipate industry trends, and WORQ’s team has undeniably demonstrated their strategic foresight, a quality that gives me confidence in their future success,” said Linus Lim, Chief Executive Officer of Phillip Capital Management. Rachel Leong, Director of Group Strategy and Operations at Mah Sing Group, who led this investment for the Leong family office said the firm is optimistic about the growth in demand for flex spaces and are thrilled to be part of WORQ’s growth journey. “With a customer-first approach, prudent financial management, and disciplined execution, we have full confidence that WORQ will continue its growth story in the coming years,” she said. Cradle acting group Chief Executive Officer Norman Vanhaecke said that Cradle is behind WORQ all the way, as they are vital to the ecosystem for the growth of startups. “Once companies receive funding, having a robust community of entrepreneurs to plug into is very important, “To stay competitive in the world stage, it is imperative that we encourage the good work that WORQ is doing as they have a lot of positive spillover effects for the good of the country,” he added. Cited JLL Research, WORQ said the current market penetration for flexible offices in Kuala Lumpur is only around 1 percent, compared to the regional average of 3 percent. As JLL predicts that the demand for flexible office solutions will increase the penetration rate to 30 percent by 2030, WORQ said this signifies substantial growth room for the firm. Malaysia-based coworking space WORQ & UOA’s newest partnership reaches 70% occupancy rate pre-launch

https://technode.global/2023/10/10/nearly-seven-in-ten-smes-in-southeast-asia-rely-on-startup-capital-from-savings-family-and-friends-sme-industry-report/

Nearly 7 in 10 SMEs in Southeast Asia rely on startup capital from savings, family and friends: SME Industry Report

In Southeast Asia, about 70 percent of small and medium enterprises (SMEs) started their business with seed money raised from their personal savings and from family and friends’ financial support, said a report published by According to the SME Industry Report, the funding from traditional banks consists of 23 percent while the remaining 7 percent turned to alternative sources such as FinTech companies. SMEs in Malaysia had the weakest access to traditional bank financing (17 percent) and alternative lenders (3 percent), and were the most dependent on personal savings (66 percent) and support from family and friends (13 percent). Those in Vietnam had the strongest access to alternative lenders (25 percent), while only SMEs in Indonesia (3 percent) and Singapore (2 percent) secured funding from investors. The study also found that cash flow remains a key SME concern, with many spending most of their funds to support daily operations and buy inventory and supplies, and worrying about paying suppliers and receiving payment from customers on time. These concerns are further aggravated by seasonal cash flow fluctuations, when festive seasons increase consumer demand and raw material prices, and end-of-year objectives to complete ongoing projects and implement new ones call for an infusion of funds. According to the report, funding from traditional banking and financial institutions remains inaccessible to many, mainly due to difficult requirements and long processing times, and most SMEs have to start their business using their own savings and with help from family and friends. It is noted that their additional funding typically comes from business term loans and credit card payments. Those who borrow from alternative lenders, however, are not especially brand-loyal: almost half are not highly satisfied with their current providers and are, thus, actively seeking alternatives with a smoother brand experience and lower prices. These findings reveal a gap in the market for better financing options tailored to SMEs, ones that are more accessible than traditional financing sources and offer a low price, great brand experience, and fast approval. SMEs’ choice of provider, however, may not boil down to primarily just cost: although most SMEs, with the exception of respondents from Indonesia, prefer low interest rates over a quick processing time, the urgent need for a healthier cash flow to support day-to-day operations and stock up on inventory means there’s space for providers that offer fast approvals. Overall, SMEs continue to face the same cash flow-related challenges that SMEs before them have experienced. Thus, innovative digital financing solutions, developed with Southeast Asia’s SMEs in mind, may be what the sector needs to solve these persistent old problems. Meanwhile, despite the current global economic downturn triggered by a chain of “severe and mutually reinforcing shocks” – the pandemic, the Ukraine war, high inflation, debt tightening, food and energy crises, and the climate emergency – most of theSMEs in Vietnam were the most pessimistic, while those from Thailand were the most optimistic. There was no significant difference among SMEs in Indonesia, Malaysia, and Singapore in terms of business confidence. “It’s evident from the report that the majority of MSMEs in Malaysia still rely on personal savings and family support for startup capital,“This underscores the need for innovative financial solutions tailored to the specific needs of Malaysian MSMEs,” said Chai Kien Poon, Country Head of Funding Societies Malaysia. He further added that the access to financing remains a critical concern for Malaysian MSMEs. “The report reinforces the importance of FinTech platforms like Funding Societies in bridging this gap and providing MSMEs with the necessary financial support to grow and thrive, “As we continue to navigate the economic recovery post-pandemic, this report serves as a roadmap for both policymakers and financial institutions to better serve the Malaysian MSME segment, ensuring they have the tools and resources they need to succeed in an ever-evolving business landscape,” he said. Funding Societies surveyed nearly 1,000 SMEs in Malaysia, Singapore, Indonesia, Thailand and Vietnam. The report comprises respondents under the SME category, including micro (74 percent) and are business owners themselves (63 percent) – surveying both customers of Funding Societies (59 percent) as well as non-customers (41 percent). Funding Societies raises $27 million in debt funding from institutional investors

https://technode.global/2023/10/10/gobi-partners-invests-in-malaysian-reseller-digital-ecosystem-ejen2u/

Gobi Partners invests in Malaysian reseller digital ecosystem Ejen2u

Asia-focused venture capital firm Gobi Partners has become the lead investor in Malaysian reseller digital ecosystem Gobi Partners and Ejen2u said in a statement on Tuesday that this investment was made possible through the Khazanah Nasional Bhd (Khazanah)-backed Gobi Dana Impak Ventures (GDIV) fund. Looking ahead, Ejen2u’s vision is to lead the way in agent solutions in the Malaysian market, empowering aspiring merchants of all backgrounds for success. Their plans include expanding their product catalogue to cater to various segments of the direct-to-consumer industry including drop shipping, online storefronts and setting up fulfillment services. Ejen2u, founded by Sheikh Ezaiddin, Imran Hadi, and Taufiq Zakir, brings over 50 years of combined entrepreneurship and reseller industry experience. As Malaysia’s homegrown reseller digital ecosystem, the firm plays a pivotal role in aiding micro, small, and medium enterprises (MSMEs), including brand owners, stockists, agents, and drop shippers, in elevating their business endeavours. Ejen2u provides a comprehensive suite of services, including a cloud-based reseller management platform, a reseller education platform, a reseller-based venture builder, and several innovative fintech solutions. The platform stands as Malaysia’s leading one-stop center for agent and reseller management through its three primary offerings:● EjenGO, a Software as a Service solution empowers Small and Medium Enterprises (SMEs) and brand owners amassing over 500 clients and achieving a remarkable gross merchandise value of $125 million. ● EjenVenture caters to large enterprises and brands to help them build their own reseller distribution channel. ● Women Empowerment Entrepreneurship Programme (WeMap), a program that aims to upskill women entrepreneurs, with over 100 topics. Launched in 2022, they have served 249 clients and have educated more than 15,000 participants on over 100 topics such as marketing strategy, video and photo editing, sales, business management andCurrently, Ejen2u’s platform serves over 340,000 resellers across Malaysia, including 600 women leaders since its 2019 inception. Nearly 85 percent of Ejen2U’s users are women looking to generate additional income while staying at home to care for their children. “While our EjenGo platform serves as an initial attraction for our clients, our true differentiator lies in our holistic approach beyond technology, “This includes our comprehensive soft skills workshops and the impactful WeMap program for women who represent 85 percent of our users,” Ejen2u Founder and Chief Executive Officer Sheikh Ezaiddin said. “We firmly believes that the core strength of any brand resides in its human capital,“By relieving our clients of burdensome bookkeeping tasks, we empower their agents and resellers to represent the brand more effectively, leading to enhanced sales and overall brand growth,” he added. Ejen2u’s strategic investors are also bullish on the firm’s capabilities going forward and the impact it creates for domestic MSMEs. “Ejen2u is a promising portfolio company that we hold to be particularly valuable, especially in the increasingly digital future, “By helping domestic SMEs reach their fullest capabilities, we’ll be able to see a wider effect ripple across our local economy, and become competitive on a regional, or even global level,” Gobi Partners Managing Partner (Malaysia) Jamaludin Bujang said. Meanwhile, Artem Ventures Managing Partner Low Zhen Hui said that Ejen2u is an inclusive platform that empowers underserved entrepreneurs to participate in the burgeoning social commerce industry, leading to wealth generation and further national economic contribution. “Nevertheless, as this segment remains vulnerable to shocks, we are committed to bridging their access to increased financial security and welfare protection,” he said. It is noted that GDIV is part of Khazanah’s Future Malaysia Program (FMP), an initiative under the sovereign wealth fund’s Dana Impak (Impact Fund) mandate, with the aim to support the Malaysian start-up ecosystem. Dana Impak is a key pillar of Khazanah’s Advancing Malaysia strategy that aims to deliver socioeconomic impact for Malaysia across six themes – 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. With Ejen2u’s efforts to educate and uplift local businesses within the digital economy, the company aims to support the inclusive growth of Malaysian MSMEs and the entrepreneursGobi Partners backs Malaysian agritech startup BoomGrow

https://technode.global/2023/10/09/malaysia-launches-new-funds-to-drive-automation-digitalization-and-sustainable-esg-practices/

Malaysia launches new funds to drive automation, digitalization, and sustainable ESG practices

The MIDA said in a statement that these initiatives include the Domestic Investment Accelerator Fund (DIAF), the MADANI Smart Automation Grant (SAG MADANI) and the Foreign Investment Accelerator Fund (FIAF), which are set to play a pivotal role in advancing Malaysia’s economic landscape. According to the statement, the DIAF and SAG MADANI have been strategically designed to offer a variety of tailored solutions that assist in the development of high-value economic activities for local manufacturers and service providers. They also encourage the local businesses to upgrade their capabilities and expand their scope of operations, aligning with Malaysia’s commitment to fostering innovation, automation, digitalization, and the adoption of sustainable environmental, social and governance (ESG) practices. MIDA also steadfastly centers its efforts on prioritizing targeted and selective investments that yield high quality and high impact from foreign sources. In line with this commitment, FIAF is tailored for multinational companies operating in Malaysia to facilitate the seamless transfer of cutting-edge know-how within the high-technology sector through research and development initiatives and comprehensive training activities. This strategic approach is poised to nurture a highly skilled and high-income local workforce while preserving Malaysia’s competitiveness in an evolving global industrial landscape. “The realization of the New Industrial Master Plan 2030’s vision to transform Malaysia’s industry – characterized by innovation, technology and economic complexity – requires strong enablers, one of which is funding,“To that end, MIDA’s newly launched funds are among the first concrete steps to support our industries in upgrading their capacity for higher value economic activities and facilitating knowledge transfer from foreign investors to domestic companies,” said Zafrul Aziz, the Minister of Investment, Trade and Industry (MITI). “By nurturing local talent, fostering partnerships, and promoting technological advancement, we are not just catalyzing sustainable economic growth; we are also setting the stage for Malaysia to be at the forefront of the global industrial landscape by 2030 and beyond, as well as ensuring the prosperity of our companies and our people,” he said. Meanwhile, MIDA Chief Executive Officer Arham Abdul Rahman said that DIAF, FIAF and SAG MADANI are more than just funds as they are powerful catalysts propelling the nation towards the vision of a sustainable and dynamic industrial ecosystem. “Our shared mission is to cultivate a thriving economic landscape, and with these initiatives, we are nurturing a brighter future for Malaysia, “With the support of MIDA, these funds will empower businesses especially local small and medium-sized enterprises (SMEs) and mid-tier companies to innovate, expand, integrate in the technologically evolving global supply chain and actively contribute to our nation’s economic progress,” he said. MIDA is Malaysian government’s principal investment promotion and development agency under the MITI to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur, the agency has 12 regional and 21 overseas offices. MIDA, CREST team up with Dassault Systèmes to enhance cloud-based collaboration for SME

https://technode.global/2023/10/09/this-malaysian-startup-aims-to-address-screen-time-crisis-among-kids/

This Malaysian startup aims to address ‘screen time crisis’ among kids

With studies revealing alarming statistics around children’s screen time, Malaysia-based startup In a statement last Monday (Oct 2), the platform said it maximizes the benefits of screens by allowing parents to set the order in which kids interact with apps. This balanced approach helps avoid dopamine feedback loops and allows kids to develop self-regulation. Carrots&Cake is a parental control learning app, focusing on the science behind how kids interact with tech in order to try and change their behavior and build healthy habits. The app lets parents design their kids’ digital experience. Children will have to do learning apps first before they can access free screen time. Recent screen time studies point toward a growing crisis:Carrots&Cake, aims to change kids’ online behavior and help them develop healthy screen habits. With Carrots&Cake, parents can select any educational apps from the App Store – what the startup refers to as Carrots. When kids turn on their iPhone or iPad these are the only apps they can access. When learning time finishes, the rest of the apps on the device unblock and kids can express their agency during free screen time – Cake. The approach – developed with parents, teachers, and doctors – benefits the developing prefrontal cortex of kids. It balances dopamine levels, introduces delayed gratification, and leads to the development of self control, resilience, and grit. At the same time, it counters the persuasive design of apps that keep kids hooked. Kids have fewer screen time tantrums, and parents can hand over devices guilt-free, according to the statement. Early users report their kids’ time on learning apps tripled, while overall screen time was cut in half. As a result, the science-based app was selected from a review of thousands of applicants to pitch in front of investors and press at TechCrunch Disrupt 2023 in San Fransisco last month as part of Startup Battlefield 200, a startup competition. Meredith DePaolo, a Yale-educated mom of two, and Co-founder of Carrots&Cake said, “Even when parents are at the office, they know that as soon as the kids jump off the school bus, run home for a snack, and throw open their iPads, the first thing they’ll do — without any nagging or prodding — is their homework app set up on Carrots&Cake. And that learning happens distraction free. No advertisements, no push notifications, no emails or texts. Kids are no longer digital zombies. Screen time becomes focused and intentional. ”“No matter how good DuoLingo is, it can’t compete against Roblox. We have a solution. Let parents design their kids’ digital experience. Children do learning apps first before they can access free screen time. We do this naturally when we tell kids to do their homework before they play. By placing apps with a high cognitive load before high dopamine activities like games/streaming/social we create a balanced digital experience that allows kids to self regulate,” she told Co-founder Hamel Shah shared, “While other screen time controls simply set a time limit on how long kids use their devices, Carrots&Cake takes a kid-friendly approach to screen time that accounts for children’s developing brains and lack of self-regulation skills. We combine learning and fun to make devices more beneficial and less addictive. ”Existing parental controls fall short. They cause stress in the parent-child relationship because they are one-sided, monitor kids’ private behavior, and use GPS to track kids. Screen use is controlled with blanket time limits that fail to account for different types of online activities. Often these controls get bypassed by tech-savvy kids. Shah added, “Malaysia has been my home for more than fifteen years, in large part because of its entrepreneurial spirit. The mix of cultures, religions, and ethnicities that are Malaysia’s backbone inspires innovation and creativity. Other countries can’t compete. A strong pool of talent — and a steady diet of roti canai — feed Malaysia’s thriving startup ecosystem. These are the sentiments the team and I carried with us to San Francisco. ”Carrots & Cake said it is committed to transforming the digital parenting landscape, ensuring children’s screen time is safe, balanced, and healthy. It’s not about limiting screen time but about elevating screen time and empowering families, the company added.

https://technode.global/2023/10/09/mranti-appoints-rais-hussin-mohamed-ariff-as-new-chief-executive-officer/

MRANTI appoints Rais Hussin Mohamed Ariff as new Chief Executive Officer

The MRANTI said in a statement on Sunday that Rais will take over from the current Acting Chief Executive Officer and Chief Commercial Officer Khairil Anuar Sadat, effective 9 October 2023. It said Rais brings with him over 28 years of experience and aIn his new role as Chief Exectitve Officer, Rais will be responsible for driving the strategic vision of MRANTI and overseeing its day-to-day operations. He has extensive experience in the fields of telecommunications, technology and entrepreneurship. “We are delighted to welcome Dr. Rais as the Chief Executive Officer, “His extensive experience and deep understanding of the value of technology and innovation will be instrumental in steering MRANTI toward continued success,” said Prof. Dr. Rofina Yasmin Othman, Chairman of MRANTI. Meanwhile, Rais said that MRANTI is a nucleus agency for research and development (R&D) and commercialisation and innovation (C&I) in Malaysia that accelerates ideas to impact. He said he is committed to contributing significantly to the growth and success of the organization as a technology and innovation accelerator, and strengthening the innovation ecosystem in Malaysia. “Being agile, is not about mere proactive or reactive change. It is about the ‘change of change’, it is about the ‘change of change in an accelerated pace’. Nothing is linear anymore,” he added. MRANTI is Malaysia’s commercialization agency with the resources to accelerate the commercialization 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. MRANTI launches Malaysia innovation matching platform to propel commercialization rate

https://technode.global/2023/10/06/boost-partners-celcomdigi-to-launch-global-prepaid-card/

Boost partners CelcomDigi to launch global prepaid card in Malaysia

Malaysia-based FinTech firm The Trio said in a statement Thursday that the prepaid card which is called the Beyond Card is the first two-in-one international card in Malaysia, enabling customers to access funds from Boost wallet balance and utilize a pre-approved credit line. They said the product is the first card in Malaysia with this unique feature and is accepted across Mastercard’s over 100 million merchants worldwide. The Beyond Card by CelcomDigi and Boost offers Shariah-Compliant flexible payments via a credit facility in a responsible manner, using robust scoring techniques to ensure those offered credit line have the ability to repay. It also addresses financial inclusion gaps, targeting customers without cards or with basic ones by offering them a premium experience. Additionally, the card is also the first in Malaysia and Southeast Asia to offer Mastercard Travel Rewards, with qualified customers being able to enjoy attractive rewards. “This product launch is a successful blend of inclusive financial innovation, coupled with synergistic value unleashed by two flagship Malaysian companies in the Axiata Group, “It also further strengthens our partnership with Mastercard which is forged under a common objective of bringing new innovations to the financial landscape in Malaysia,” said Sheyantha Abeykoon, Group Chief Executive Officer of Boost. Meanwhile, CelcomDigi Chief Innovation Officer T Kugan said that this partnership marks a pivotal step towards financial inclusivity together with telecommunications products and services, delivering convenience and rewarding experiences to Malaysian consumers who have progressively shifted to a digital-first approach for many daily lifestyles. “We remain committed to collaborate with industry leaders and drive digital innovation across Malaysia’s digital ecosystem, further supporting the nation’s digital agenda,” he said. Mastercard Country Manager for Malaysia and Brunei Beena Pothen said that with the Beyond Card, Malaysians can look forward to an unparalleled travel experience that encompasses the best of culinary, shopping, entertainment and more. “Research from the Mastercard Economics Institute underscores the value people place on experiences over things, making the integration of the Mastercard Travel Rewards a natural fit with this trend, “The partnership with Boost and CelcomDigi is a significant milestone in the industry, reflecting the joint dedication to prioritizing consumers’ passions, especially where travel is concerned,” she added. Through the card’s built-in Shariah-Compliant PayLater option, known as Boost PayFlexTM, users can stretch payments by up to three-month instalments. Users can also earn up to 3 times Boost Stars for each ringgit spent via Boost PayFlexTM, which are redeemable for savings and discounts through the BoostUP Loyalty Program. There are no fees applied for local and direct deductions on the Beyond Card. Each transaction has password protection, and emergencies can be handled with instant card freezing. Axiata Group’s Fintech Arm, Boost Sets to Accelerate MSMEs’ Financial Inclusion and Digitalization to help the underserved market in Indonesia

https://technode.global/2023/10/06/bis-and-central-bank-partners-to-explore-protocols-for-embedding-policy-and-regulatory-compliance-in-cross-border-transactions/

BIS and central bank partners to explore protocols for embedding policy and regulatory compliance in cross-border transactions

The In a joint statement, BIS and central bank partners said that disparate policy and regulatory frameworks between different jurisdictions are among the chief obstacles to smooth and efficient cross-border payments, and they contribute to the regulatory compliance burden across the payment chain, increase the time for cross-border transactions and introduce uncertainties among stakeholders. Project Mandala is a joint collaboration between BIS Innovation Hub (BISIH) Singapore Centre, Reserve Bank of Australia (RBA), Bank of Korea (BOK), Bank Negara Malaysia (BNM), and Monetary Authority of Singapore (MAS), with financial institutions. The project explores the feasibility of encoding policy and regulatory requirements into a common protocol. It also looks to automate compliance procedures, provide real-time transaction monitoring and increase transparency and visibility around country-specific policies. The project also aims to address key challenges identified during Project Dunbar, which developed an experimental multiple central bank digital currency (mCBDC) platform. According to the statement, the envisioned compliance-by-design architecture could enable a more efficient cross-border transfer of any digital assets including central bank digital currencies (CBDCs) and tokenized deposits. It could also serve as the foundational compliance layer for legacy and nascent wholesale or retail payment systems. The measures could include quantifiable and configurable foreign exchange rules, as well as anti-money laundering and countering the financing of terrorism (AML/CFT) measures. Project Mandala aligns with the Financial Stability Board 2023 priority actions for achieving the G20 targets for enhancing cross-border payments in the area of promoting an efficient legal, regulatory and supervisory environment for cross-border payments while maintaining their safety, security and integrity. “BNM is committed to making cross-border payments more efficient. Project Mandala could pave the way for more seamless cross-border transactions in the future while ensuring that regulatory compliance and transaction security are maintained, “We welcome its potential, not only for Malaysia but also for the global community,” BNM Assistant Governor Norhana Endut said. Meanwhile, RBA Assistant Governor (Financial System) Brad Jones, said that the project will help them to understand how embedding policy and regulatory measures in a common protocol could be used to improve the speed, cost and transparency of cross-border transactions. “Enhancing cross-border payments is a priority for Australia and the wider international community, and the Bank is committed to doing what it can to contribute to this effort,” he said. BIS Innovation Hub and central banks of Australia, Malaysia, Singapore and South Africa develop experimental multi-CBDC platform for international settlements

https://technode.global/2023/10/05/malaysian-central-bank-to-refine-several-aspects-of-dito-framework/

Malaysian Central Bank to finalize DITO Framework in first half of 2024

Malaysian Central Bank said Thursday that it will be refining several aspects of the Digital Insurers and Takaful Operators (DITO) Framework, and plans to finalize the framework by the first half of 2024. Bank Negara Malaysia (BNM) said in a statement that it has provided an update on the outcome of the consultation paper on the exposure draft on licensing and regulatory framework for Digital Insurers and Takaful Operators (DITO Framework) published in November 2022. The exposure draft outlines the proposed framework to facilitate the entry of DITOs in Malaysia that can offer strong value propositions to realize the policy outcomes of inclusion, competition, and efficiency. It also outlines the proposed framework to facilitate the entry of DITOs in Malaysia that can offer strong value propositions to realize the policy outcomes of inclusion, competition, and efficiency. Feedback from more than 50 stakeholders were received during this consultation period, which ended on 28 April 2023. In the months that followed, BNM continued to engage various stakeholders extensively to consider the feedback received from the exposure draft, particularly in relation to alternative business and operational models, as well as on the approach to the foundational phase. The input and feedback received have been insightful in providing additional perspectives, including market trends, to shape the final version of the policy document. Having carefully considered the feedback and additional insights gained, BNM is taking the opportunity to refine several aspects of the DITO Framework. This includes enhancements to provide clarity for emerging and innovative business models such as embedded insurance and insurance-as-a-service. This aims to encourage wider participation from players in the insurance and takaful value chain that can deliver the intended policy outcomes of the DITO Framework. Malaysian Central Bank: micro and small businesses will continue to enjoy zero-cost transactions DuitNow QR payments

https://technode.global/2023/10/04/alibaba-cloud-partners-sains-to-offer-private-cloud-program-in-malaysia/

Alibaba Cloud partners SAINS to offer private cloud program in Malaysia

Alibaba CloudThe announcement was marked with the signing of a memorandum of agreement, as SAINS launched its Private Cloud, a high-tech, innovative and highly secure cloud solution powered by Alibaba Cloud. Alibaba Cloud said in a statement that this is the first Alibaba Cloud private cloud program in Malaysia reflecting a significant step forward in accelerating digital transformation in the region and in bringing advanced cloud computing and innovative technologies to public services, businesses, organizations and education institutions in East Malaysia. It said core to this initiative is the firm’s deployment of its Apsara Stack solution that provides customers with flexible implementation for different kinds of businesses. It said the implementation of the new infrastructure solution will also provide reliable hosting services to SAINS’ customers, reducing and minimizing Recovery Time Objectives; which refers to the maximum tolerable length of time that a computer, system, network or application can be down after a failure or disaster occurs. According to the statement, SAINS has developed many applications for its customers over the years since its founding. Advancements in mobile technology and cloud technology have also raised the expectations of SAINS’ customers in terms of application reliability and disaster recovery. SAINS has also decided to implement fast auto recovery of customers’ applications. The new infrastructure built by Alibaba Cloud is designed for hyperscaling and financial-grade disaster recovery capabilities which supports SAINS’ future expansion and roadmap with high security standards. With the deployment of two Availability Zones disaster recovery Apsara Stack in Sarawak; SAINS and its key customer the Sarawak government can enjoy the benefit of applications running active across two zones simultaneously. “The recent trend we have noticed is that our customer has high expectations of us in terms of application service reliability and service restoration times, “Thus, we have decided to implement private cloud-based platforms with automatic disaster recovery capabilities from our partners such as Alibaba Cloud to ensure we can quickly deliver peace of mind and security while also meeting the data sovereignty policy of our key customers,” said Busiai Seman, chief executive officer of SAINS. The collaboration is facilitated by VSTECS Pericomp, the distributor for Alibaba Cloud in Malaysia and a subsidiary of VSTECS Berhad, one of the leading ICT distributors in the country and a technology enabler for the past four decades. The VSTECS group has played an integral role in supporting ICT infrastructure and supporting digital transformation in the State of Sarawak and across Malaysia. With the integration of the solution known for its stability, security, openness and smart cloud features tailored for enterprises; it further allows Sarawak to position herself as a forefront digital economy hub in Malaysia. “The Apsara Stack solution combines leading technical capabilities in the Asia-Pacific region with comprehensive operational capabilities, “This will enable Sarawak to take the digital leap further and faster; to be at the forefront in cloud technology adoption. We are also confident that our collaboration with SAINS will drive innovation, efficiency and growth in the region,” said Kun Huang, General Manager of Malaysia, Alibaba Cloud Intelligence. The freshly inked partnership is yet another demonstration of Alibaba Cloud’s long-term commitment to empowering Malaysia as a high value-added economy. It is part of a continued investment of time, expertise and resources in accelerating her digital transformation journey with advanced technologies and streamlined solutions. As one of the world’s leading cloud service providers, Alibaba Cloud boasts a network of 89 availability zones in 30 regions across the globe, offering a highly secure, scalable, robust cloud infrastructure to support global customers embracing digital innovation with keeping sustainability in mind. Alibaba Cloud is also the first global cloud provider with twin local data centres established in Malaysia since 2017 and has launched its first cloud-based Anti-DDos Scrubbing Center locally in 2018 serving the region. Established in 2009, the firm offers a complete suite of cloud services to customers worldwide, including elastic computing, database, storage, network virtualization services, large-scale computing, security, management and application services, big data analytics, a machine learning platform and internet of things (IoT) services. Alibaba Cloud sees increase in demand from various industries in Malaysia market, says VP [Q&A]

https://technode.global/2023/10/04/battery-electric-vehicles-is-clear-winner-when-trying-to-reduce-emissions-says-rystadenergy/

Battery electric vehicles is clear winner when trying to reduce emissions, says Rystad Energy

Battery electric vehicles (BEV) are the clear winner when trying to reduce emissions in the transportation sector, according to The research house said in a statement on Wednesday that despite incurring higher emissions in the manufacturing process of electric vehicles and an enduring reliance on fossil fuel power generation in many countries, the positive environmental impact of switching to a BEV over the vehicle’s lifetime is unmistakable. Its analysis showed that battery-powered vehicles contribute at most half the carbon dioxide equivalent (CO2e) of diesel or gasoline cars across their lifecycle, regardless of the country of operation. Even in countries where the power grid is dominated by fossil fuels, it said battery-powered cars emit less CO2e than internal combustion engine (ICE) cars over their lifecycle. As renewable sources replace coal and gas-fired generation, emissions related to the operation of BEVs could drop by 86 percent, it said. Its in-depth research of lifecycle BEV and ICE vehicle emissions considers every stage of the manufacturing process and the vehicle’s operation. This includes the manufacturing of the vehicle’s body, known as body in white (BIW), powertrain assembly, maintenance, fuel and electricity-related emissions and battery production for BEVs. The research house is conscious that there are often societal and humanitarian impacts associated with EV manufacturing, battery production and associated mining. However, this research is purely focused on the emissions comparison between battery electric and traditional-fuel vehicles. Under its base case scenario for power generation in China in the next 20 years, it said the lifecycle emissions of a BEV are about 39 tonnes of CO2e versus almost 85 tonnes for an ICE vehicle. It said the difference in the United States is even starker, with a BEV emits 42 tonnes of CO2e across its life in the country, 58 percent lower than a gasoline or diesel vehicle that emits more than 100 tonnes. Of these totals, it said emissions related to the extraction, refining and burning of fossil fuels contribute about 90 percent of all ICE emissions. The breakdown of emissions across a battery-powered vehicle’s life is directly tied to its electricity consumption and how that power is generated, it added. “Overall, battery electric vehicles are clearly the right technology to reduce emissions in the transportation sector. Switching to a BEV will reduce long-term emissions despite a larger environmental impact at the beginning of the vehicle’s life, “Contrary to some claims, electric car adoption is not a fool’s errand; it will slash emissions in the long run and accelerate the energy transition,” said Abhishek Murali, Senior Clean Tech Analyst Rystad Energy. It is noted that the research house selected five countries for its analysis – China, the United States, India, Germany and France – due to their diverse transportation factors like driving patterns, type of vehicle dominant in each country and varying power mixes, both historical and forecast. Germany and France were chosen to reflect the European market in general and assess different power mixes, keeping other factors mostly similar. It used our base case power generation forecast for each country when evaluating lifecycle emissions to accurately reflect the evolving nature of electricity generation and its impact on BEV emissions. Each vehicle is expected to last 18 years, after which age most vehicles are scrapped. BMI sees Malaysia’s electric vehicle sales to quadruple in 2023

https://technode.global/2023/10/04/bmi-sees-malaysias-electric-vehicle-sales-to-quadruple-in-2023/

BMI sees Malaysia’s electric vehicle sales to quadruple in 2023

BMI Industry Research, a FitchSolutions firm, has projected that Malaysia’s total electric vehicle (EV) sales to quadruple in 2023, although the country’s EV penetration rate (EV sales as percent of total vehicle sales) will stay at just 1.8 percent. The research unit said in a note on Tuesday that its autos team estimate demand for EVs in Malaysia to far outstrip that of internal combustion engine cars within the 2023-2032 forecast period. However, BMI noted the pace of growth in the electrification of transport industry will face challenges related to the lack of affordable EV models and slow expansion of charging infrastructure. It is noted that Malaysian government is promoting EVs by providing import duty exemptions for components for the local assembly of EVs, the excise duty and sales tax exemptions for locally assembled EVs, and the import and excise duty exemptions on imported completely built-up (CBU) units. While the government’s recently announced National Energy Transition Roadmap (NETR) has recognized the importance of hydrogen as a potential clean energy source, BMI opined that the adoption of hydrogen in the transport sector will be a lengthy process and impact on conventional fuel consumption will be limited. As part of the country’s objective to achieve net-zero emissions by 2050, the Malaysian government adopted the NETR to steer Malaysia’s transition from traditional fossil fuels-based economy to a green economy. According to the note, decarbonization of the land transport industry remains critical to the government’s energy transition initiatives since the sector is the largest source of emissions constituting 85 percent of total transport emissions. “The government’s current policy focuses on electrification of transport fleet and expanding biofuels use and this is expected to become more prominent in the coming years in the form of fuel switching to accelerate energy transition in the transport sector,” BMI said. BMI also foresees Malaysia’s energy transitions initiatives to slow refined fuel demand growth. “Malaysia’s fuel consumption is projected to grow at a much slower pace than anticipated, “Malaysia’s consumption of refined fuels is forecast to see slow and steady expansion over the next 10 years, averaging at around 1.5 percent through 2023 to 2032,” it said. This was despite its Country Risk teams forecast Malaysia’s real gross domestic product (GDP) growth to register 4.2 percent in 2023 and improve further to 4.42 percent in 2024. “Though an improving economy together with ongoing fuel subsidies are contributing to a recovery in fuel consumption, fuel demand faces downside pressures from high global oil prices and energy transition initiatives, “The near-term outlook for fuel consumption points to upside, but the pace of demand growth could slow down in the long term as the government plans to implement policies aiming to cut fuel subsidies and accelerate energy transition initiatives,” it added. Malaysia’s Hektar REIT partners GMA Resources for EV charging bays

https://technode.global/2023/10/04/antitrust-approval-could-be-biggest-hurdle-for-grabs-potential-acquisition-of-foodpandas-business-analysts-say/

Antitrust approval could be biggest hurdle for Grab’s potential acquisition of Foodpanda’s business, analysts say

Antitrust approval will be the largest hurdle for Southeast Asia-based super app Grab as the ride-hailing and food delivery firm flagged as a potential suitor for Foodpanda’s business in selected markets, analysts said. “We think antitrust approval will be the biggest hurdle for Grab, while sale to deep-pocketed buyer could disrupt the current competitive landscape,” CGS-CIMB analysts Ong Khang Chuen and Kenneth Tan wrote in a note dated September 21. “In our view, while it does make sense for Grab to consider such an acquisition given its strong net cash position and potential to enhance its economies of scale, we see significant regulatory hurdles,” the analysts wrote. Last month, Berlin-based Delivery Hero confirmed it is in preliminary talks for a partial sale of its Asia food delivery business. Grab flagged as a potential suitor. The deal’s value is still under negotiation, according to media reports. The According to the report“Assuming a merger, Grab will have a monopolistic market share ( more than 90 percent) in online food delivery in Singapore, Malaysia and the Philippines,” the analysts added. “The talks are in the preliminary stage, and we do not know if this will lead to a definitive agreement,” they wrote. Momentum Works, a venture outfit, estimated Foodpanda’s Southeast Asia GMV at $3.1 billion in 2022. According to the same report, Foodpanda ranked second by market share in Singapore, Malaysia and the Philippines, and third in Thailand in 2022, the analysts noted. “Our back-of-the-envelope calculations point to an implied valuation of 0.35 times trailing Enterprise Value (EV)/Gross Merchandise Value (GMV) or 5.3 times trailing EV/sales (assuming Foodpanda has the same net take rate as Grab), which we think appears reasonable. Grab trades at 6 times trailing EV/sales,” the analysts wrote. On the other hand, the analysts noted that should the sale go to a deep-pocketed buyer seeking to expand presence in/enter Southeast Asia, they see potential disruption to the existing healthy competitive landscape in the region’s on-demand industry as scale and order density are key to driving profitability in the low-margin food delivery business. Maybank Kim Eng Research: Grab’s acquisition of Foodpanda potentially increase economies of scale, marginsIn a separate note on Sept 25, Maybank Kim Eng Research noted Foodpanda ranked number two by market share in Singapore, Malaysia and the Philippines and number three in Thailand in 2022, with an estimated GMW of $3.1 billion in Southeast Asia. “Buying a competitor definitely makes sense for Grab given its strong net cash position (S$6.7 billion in cash and liquid investments). Assuming a merger, Grab would consolidate its market leadership with a monopolistic market“This would potentially increase its economies of scale and profit margins while reducing marketing expenses on customer acquisition for its delivery segment. However, Grab might face similar regulatory hurdles from CCC (Competition and Consumer Commission of Singapore) post sale of Uber’s Southeast Asian business to Grab in Sep 2020,” he added, concurring CGS-CIMB’s analysts’ views. Moreover, Maybank Kim Eng’s Kelvin said should the sale go to a new entrant seeking to expand in/enter Southeast Asia, this could be a concern to the existing healthy competition in the region as scale and order density are key to driving profitability in the low-margin food delivery business. “We believe competition has become more rational, especially for food delivery, with peers cutting back on promotion intensity to boost profitability and Grab focusing on sustainable growth as it expands its market share leadership. After the pandemic eased in 2022, the food delivery market slowed down while Grab has outperformed its peers inFounded in 2012, Grab is a superapp in Southeast Asia, operating across the deliveries, mobility and digital financial services sectors. Serving over 500 cities in eight Southeast Asian countries, Grab enables users to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending and insurance, all through a single app. Last month, Delivery Hero is a delivery platform, operating its service in around 50 countries across Asia, Europe, Latin America, the Middle East and North Africa. The company started as a food delivery service in 2011 and runs its own delivery platform on four continents. Additionally, Delivery Hero is also in the quick commerce services, aiming to bring groceries and household goods to customers in under one hour and often in 10 to 15 minutes. Headquartered in Berlin, Germany, Delivery Hero is listed on the Frankfurt stock exchange since 2017, and became part of the leading index DAX (Deutscher Aktienindex) in 2020. Delivery Hero announced the acquisition of Foodpanda in December 2016. Foodpanda added 20 new countries in Eastern Europe, MENA and Asia to Delivery Hero’s platform then. Foodpanda, headquartered in Berlin, is an online food ordering and delivery marketplace processing approximately 2 million monthly orders across 22 countries in Eastern Europe, MENA and Asia with market leading positions in 17 of them, Delivery Hero said in a statement Delivery Hero’s foodpanda’s business could be sold to Grab? – report

https://technode.global/2023/10/03/malaysian-fintech-startup-madcash-secures-1m-in-funding-to-empower-women-entrepreneurs/

Malaysian Fintech startup MADCash secures $1M in funding to empower women entrepreneurs

MADCash Sdn. Bhd. MADCash said in a statement on Tuesday that the funding was led by Artem Ventures with strong support from MSW Ventures and ScaleUp Founders Fund. According to the statement, these newly acquired funds will be used to enhance the Company’s online platform using AI technology, cover operational and marketing expenses, and explore expansion opportunities within the Southeast Asia region. MADCash, which stands for Multiply, Assist, Donate Cash, funds and grows unbanked and underbanked women entrepreneurs, aiming to create an alternative credit scoring to increase their future bankability. “We are thrilled to have new partners onboard at this critical juncture when we have so much in the work pipeline including launching MADCash Academy soon,“With the support from Artem, MSW, and ScaleUp we can now make a bigger impact on society,” said Nuraizah Shamsul Baharin, Managing Director of MADCash. The Kuala Lumpur-based Madcash is a fintech solutions provider that helps women achieve greater financial security by providing the capital, business, and financial acumen to grow their micro businesses. The company runs on a proprietary technological platform that allows donors to contribute and see whom their funds are helping at any time. By the end of this year, the firm is set to have extended its support to over 800 women. Among its partners are Hong Leong Islamic Bank, and PayNet. In line with this growth, MADCash welcomes Musyrifah Malek as a Co-Founder. With her extensive legal background, she will be pivotal in advancing the Company’s corporate governance policy and practices, to help ensure MADCash’s success within its industry. “By offering financial inclusion and capacity building to these groups of women entrepreneurs, MADCash is a platform that helps underserved entrepreneurs to build their credit scoring and sharpen their entrepreneurship skills, “MADCash recognizes the importance of financial inclusion for closing the gap of poverty and gender inequality, which can lead to better economic growth in the SEA region,” said Tunku Omar Asraf, Principal of Artem Ventures. Artem Ventures is a venture capital firm based in Malaysia. The firm currently manages TIM Ventures, a fund backed by FWD Group, that invests in early stage fintech and insurtech companies. The fund has invested in 12 companies with the goal of driving financial inclusion and social security for underserved communities through digital access to financial and insurance products. “Supporting the unbanked and underbanked has been a digital economy problem looking for a sustainable solution, especially in the development economy of micro-financed entrepreneurship,” MSW Ventures’ Jeffrey Seah said. “Nuraizah has demonstrated a strong grasp of the complex and ever-changing agendas amongst the institutional and strategic stakeholders, forging a program-based business model that can serve to realize the potential of women entrepreneurs, providing them with a level of self-sufficiency beyond sustenance, “This is my second cheque in support of Nuraizah’s MADCash, she epitomizes the characteristics of an Asia Fund X founder,” he added. MSW Ventures supports Asia Fund X (AFX), a successor fund to Asia Fund II (AFII), is a firm searching for exceptional growth models and founders with the X factor within the transformative Digital Economy of Southeast Asia. “We’re really proud of Nuraizah and her team and how far they have come. When she joined our accelerator program in 2022 MADCash had only supported 83 women with just $20,000 as microfunds, “Since then, her team has really focused on raising more funds under management to $700,000 and improving their processes to deploy funds to more deserving women. MADCash demonstrates the quality of founders that we at ScaleUp aim to support all the way,” said Renuka Sena, Senior Partner at ScaleUp Malaysia. ScaleUp Malaysia supercharges growth-stage startups, turning them into “Pegasus” companies—fast, profitable, and ready to soar. Founded by veteran entrepreneurs and investors, their program offers tailored coaching, in-class training, and crucial equity investments. Since 2020, they’ve deployed capital into 36 game-changing startups like ATX, AOne, Fefifo, Kiddocare, ERTH and Homa. ScaleUp Malaysia announces investments in 11 emerging startups

https://technode.global/2023/10/03/malaysia-launches-i-esg-framework-to-tap-into-12t-global-market-on-esg-focused-opportunities/

Malaysia launches i-ESG Framework to tap into $12T global market on ESG-focused opportunities

The MITI said in a statement that the i-ESG Framework is a key enabler for the Push for Net Zero mission, one of the four missions of Malaysia’s recently launched New Industrial Master Plan 2030’s (NIMP 2030). According to the statement, the i-ESG’s overarching objective is to accelerate transition towards sustainable practices among manufacturing companies. It consists of four pillars – standards, financing, capacity building and market mechanism – as well as 17 strategies, 50 deliverables and six key enablers, aimed at providing invaluable“While the New Industrial Master Plan 2030 sets out the ‘what’ on ESG, this i-ESG Framework presents the ‘how’, serving as a roadmap for businesses to integrate ESG considerations into their operations, and a tool for regulators to ensure compliance and accountability, “The i-ESG Framework Phase 1.0 (2024–2026) prepares the groundwork and fosters the development of a robust ecosystem to help companies embark on their ESG journey,” the Minister of Investment, Trade & Industry Zafrul Aziz said. More importantly, he said the framework canters around the principle of ‘Just Transition’ because the businesses, particularly the MSMEs, cannot be held immediately accountable to standards that companies in developed markets have had a head start on for at least a decade or longer. “This also reflects the MADANI Economy’s commitment to inclusivity, ensuring that no one is left behind, particularly in the pursuit of ESG objectives,” he added. According to the statement, the i-ESG Framework Phase 1.0 comes with an ESG Readiness Assessment (i-ESGReady) to assist companies in understanding and evaluating their current ESG adoption level, and the i-ESG Starter Kit (i-ESGStart), a clear and user-friendly, step-by-step guide with practical examples, as well as calculation methods and templates to facilitate their sustainability reporting. In Phase 1.0, MITI will also conduct clinic sessions to empower and guide a total of 50 companies on producing their first sustainability report. The first clinic will be held at end-October 2023 and interested companies may contact their respective business associations or chambers. With the i-ESGReady and i-ESGStart, companies that have no sustainability reports at all should be able to produce their report within a year. This will eventually ensure their readiness to meet the more rigorous demands of Phase 2.0 “Accelerate ESG” (2027 – 2030). “The phased, progressive approach represents the ‘Just Transition’ that Malaysian companies and MSMEs need to fulfil the growing demand for sustainable products, and the requirements for ESG reporting in export markets,“Through the i-ESG Framework, we also have an opportunity to get our ESG target outcomes right via our manufacturing sector. For the sake of our children and Planet Earth, let us get this right the first time, as we may not have the luxury of considering Plan B, because there is no Planet B,” continued Zafrul. According to the statement, MITI has also begun its “KenalESG” outreach program in Kuala Lumpur (200 companies), Penang (190 companies), and Johor (130 companies) to raise ESG awareness and introduce the i-ESG Framework to industries. The program will also be conducted in Sarawak, Kelantan, Terengganu, and Pahang by end-2023, while other states will be covered by the first quarter of 2024. Malaysian bourse inks MOU with Thai, Indonesian bourses to set up Asean ESG ecosystem

https://technode.global/2023/10/03/malaysias-teleport-and-chinas-sf-airlines-to-cross-share-logistics-network/

Malaysia’s Teleport and China’s SF Airlines to cross-share logistics network

TeleportTeleport said in a statement on Monday that the duo have signed a bilateral interline partnership to leverage on each other’s extensive air network to better serve their respective customers – Teleport brings to the table deep logistics access into Southeast Asia, and SF Airlines the largest express network within China and outbound into European and North American markets. According to the statement, this partnership has already moved significant cargo volumes for customers of both parties on the combined network. Teleport, is actively adding third-party airlines to its air logistics network to expand into key airports such as Kuala Lumpur and Bangkok from China, while extending network reach into new markets such as Europe and the United States. “This partnership is in service of our continued efforts to add valuable third-party airline partnerships to Teleport, “We are looking forward to supporting SF Airlines to expand their cross-border product in Southeast Asia,” said Pete Chareonwongsak, Chief Executive Officer of Teleport. He said the partnership with SF Airlines, the largest cargo airline in China, not only strengthens the firm’s regional connectivity within China but also extends its market reach into Europe and the Americas, connecting its network globally beyond Southeast Asia. “This will help us better serve our customers needs, deepen our end-to-end capabilities, and ramp up our ability to scale our business to better serve the region,” he said. He also said this collaboration reflects the firm’s relentless commitment to revolutionize air logistics in Southeast Asia and beyond – to provide its customers with a faster, more affordable, and uncomplicated go-to choice to move things across Southeast Asia, and now globally. It is noted that SF Airlines operates a formidable fleet of 84 freighters serving 90 global destinations, both present and past. Their international network includes destinations in Europe, the United States, the Middle East, and Southeast Asia, among others. “We’re delighted to partner with Teleport, a market leader in the Southeast Asia region, “This partnership allows us to deepen our network access into Teleport’s wide network reach and frequency into Southeast Asia as well as key Asia Pacific markets, “We look forward to this partnership in further strengthening our commitment to continuously expand and strengthen our air-logistics service capability,” said Li Sheng, Chairman of SF Airlines. According to the statement, Teleport is the current market leader by volume of cargo moved across Southeast Asia and boasts the largest air logistics network in the region, utilizing the surplus belly space of 204 wide-and-narrow-body AirAsia passenger aircraft. Additionally, Teleport inducted the first of three Airbus A321 Freighter (A321F) aircraft in July, to further solidify its leadership position in the region. Malaysia’s Teleport unveils first A321 freighter

https://technode.global/2023/10/02/malaysias-hektar-reit-partners-gma-resources-for-ev-charging-bays/

Malaysia’s Hektar REIT partners GMA Resources for EV charging bays

Hektar Asset Management Sdn. Bhd. , the Manager ofThis initiative involves the installation of 13 Electric Vehicle (EV) charging bays across six shopping malls in Hektar REIT’s portfolio commencing from 1 January 2024, Hektar REIT said in a statement on Monday. In the retail landscape that continues to adapt to changing consumer behaviors and global challenges, such as climate change, the firm said the installation of EV charging bays presents an innovative move to stay ahead of market demands. It said that this initiative represents not just an alignment with the global move towards green energy but also a concrete step in the firm’s robust Environmental, Social, and Governance (ESG) initiatives. According to the statement, these charging bays represent an upgrade to the existing bays across the portfolio based on their latest technology aligning better with Hektar REIT’s commercial and sustainability goals. The firm is also introducing an additional bay which will be the first of its kind at our shopping mall located at Segamat Central in Segamat, Johor, fortifying the REIT's commitment to bringing greener options to diverse and under-served geographical locations. “After three decades in the energy sector, we are thrilled to embark on this EV charging bays collaboration with Hektar REIT, aligning with their energy transition efforts to champion a sustainable environment,“It further underscores our belief that the renewables & EV sector will emerge as vital components of our portfolio and we look forward to future innovation opportunities in this space,” said Johan Azman Ghaus, Director of GMA Resources Sdn. Bhd. In alignment with Hektar REIT’s unwavering commitment towards ESG goals, Hektar REIT said a key part of this collaboration centers on enhancing the portfolio’s sustainability credentials. It said the introduction of these EV Charging Bays not only promotes the adoption of green transportation options but also strengthens Hektar REIT’s appeal to a growing demographic of environmentally conscious shoppers and loyal patrons. “We are thrilled to announce our collaboration with GMA. This partnership amplifies Hektar REIT’s dedication to pioneering the future of transportation, ensuring unparalleled convenience and championing sustainability for our valued patrons,” said Johari Shukri Jamil, Executive Director and Chief Executive Officer of Hektar Asset Management Sdn. Bhd. According to him, these new EV charging bays signify more than just infrastructure as they represent Hektar REIT’s pledge to nurture greener communities and drive innovation in retail experiences. “With these new EV charging bays, we aim to make every shopping trip a little more convenient, ensuring our EV-driving patrons feel right at home while they shop, dine, and recharge – both their cars and their spirits,” he said. As part of the firm’s larger mission to champion environmental responsibility, he said Hektar REIT is committed to rolling out even more sustainability-focused initiatives in the near future. “Our aim is to tangibly reduce our carbon footprint, ensuring that our malls aren’t just places of commerce but hubs of green innovation and community partnership. Stay tuned as we continue our journey towards a greener tomorrow,” he said. Hektar REIT is Malaysia’s first listed retail-focused REIT. The firm currently owns 2 million square feet of retail space in four states with assets valued at MYR 1.2 billion ($250 million) as at 30 June 2023. Hektar REIT is managed by Hektar Asset Management Sdn Bhd and the property manager is Hektar Property Services Sdn Bhd. Hektar REIT’s portfolio of commercial properties includes Subang Parade in Subang Jaya, Selangor; Mahkota Parade in Melaka; Wetex Parade & Classic Hotel in Muar, Johor; Central Square in Sungai Petani, Kedah; Kulim Central in Kulim, Kedah and Segamat Central in Segamat, Johor. CelcomDigi and Yinson seal partnership to elevate Malaysia’s eMobility ecosystem

https://technode.global/2023/10/02/malaysian-central-bank-micro-and-small-businesses-will-continue-to-enjoy-zero-cost-transactions-duitnow-qr-payments-no-new-costs-for-individual-customers/

Malaysian Central Bank: micro and small businesses will continue to enjoy zero-cost transactions DuitNow QR payments

Malaysian Central Bank said last Friday that micro and small businesses in Malaysia will continue to enjoy zero-cost transactions DuitNow QR payments, and no new costs for individual customers. Bank Negara Malaysia (BNM)The transaction fee applicable for business merchants is known as the merchant discount rate (MDR), which is a common fee associated with the provision of electronic payment services. It is charged based on a percentage of the payment transaction value to cover processing costs. A business merchant would receive the payment made by their customers after deducting the MDR. Currently, debit and credit card payments also incur MDRs. According to the bank, the transaction fee is intended to cover costs and investments needed by the industry to upkeep their payment systems, including cybersecurity and fraud prevention controls, in order to maintain the high service and security standards for payment services. The bank said that DuitNow QR remains an affordable and cost-effective payment method. For individual customers, it said the usage of DuitNow QR to make payments will not attract any additional charges. For businesses, it said any transaction fee imposed on QR payments remains as low as, or lower than, fees imposed on payments using debit cards. It also said businesses using DuitNow QR as a payment method also do not need to incur recurring costs for POS terminal rental for card-based payment channels or additional overhead and administrative costs for handling cash payments. It said the industry will take measures to minimize the potential impact of transaction fees on small businesses. According to the statement, major banks and selected non-bank financial service providers, who manage 75 percent of businesses currently accepting DuitNow QR payments, have announced that they will continue to waive the transaction fee for micro and small businesses accepting DuitNow QR payments. In addition, it said Payments Network Malaysia Sdn Bhd (PayNet), the operator of DuitNow QR, will allocate resources to help defray the costs incurred by acquirers that continue to offer full waivers to micro and small businesses accepting DuitNow QR payments. Together, it said these measures will enable micro and small businesses to continue to enjoy DuitNow QR payment services at zero cost, while ensuring that QR payment services remain efficient, reliable, and safe for all consumers. BNM emphasized that the bank remains fully committed to supporting the widespread adoption of digital payments in Malaysia through a vibrant, secure, and inclusive payment ecosystem that is also sustainable over the long term. Malaysia central bank, ASEAN 5 to set up multilateral platform for cross-border payment connectivity

https://technode.global/2023/10/02/gobi-partners-backs-malaysian-agritech-startup-boomgrow/

Gobi Partners backs Malaysian agritech startup BoomGrow

Asia-focused venture capital firm Gobi Partners is doubling down on its commitment to Environment, Social and Governance (ESG)-friendly investments through its latest strategic funding into Malaysian agritech startup The investment is made through the Khazanah Nasional Berhad-With this latest funding round, BoomGrow aims to expand operations across Southeast Asia. BoomGrow operates Machine Farms in Malaysia, and they are in the process of expanding. Their recent move into Manila, Philippines is a strategic response to the high population density and the growing demand for fresh, clean, and nutritious produce. Its initial grant funding came from SME Corp and venture capital funding from Big Sky Capital, an American venture capital firm as well as angel investors. “We are excited to be part of the Khazanah and Gobi family. BoomGrow is enabling access to better- quality fresh food by focusing on our ESG principles,“Our commercial-scale solutions are backed by a data-driven approach which is key to resilience and agile decision-making,” BoomGrow Co-founder and Chief Executive Officer, Murali Krishnamurthy said. “Ultimately, we are unlocking the future of food whilst having a transformative impact on the environment and our communities, “It’s great to see investor alignment with our vision which will enable us to execute our growth plans across Southeast Asia,” he said. Founded by a gender-diverse dynamic trio, BoomGrow strives to bring healthy, nutritious food within reach by focusing on densely populated urban areas where traditional farming is scarce and affected by long supply chains. Its co-founders, Murali Krishnamurthy, with an Accounting and Finance background; Dr. Jay Desan, an advisor with extensive experience in ESG; and Shan Palani, a designer and architect, lead this mission. Since its inception in 2015, BoomGrow has been making waves internationally with its innovative approach to growing fresh produce. They have turned repurposed shipping containers into what they call “Machine Farms” where they can be located in situ, growing pesticide-free vegetables with a significantly reduced carbon footprint. A key feature of the Machine Farm is the ability to grow close to consumers as well as serve remote areas. Modular and stackable, the Machine Farms are a model for the future of scalable, sustainable hyper-local farming. Compared to traditional outdoor farms, these farms use 95 percent less land, water and labor. This capability is pivotal in areas with limited access to fresh, clean and traceable produce, which is aligned with the company’s ultimate goal of producing vegetables throughout the entire region. BoomGrow’s Farm OS meanwhile, is a remote management platform that seamlessly integrates hardware and software. It uses machine vision and machine learning to optimize operations and performance across all farms based on data. Currently, BoomGrow can produce a wide range of leafy greens, microgreens, and herbs. They are also planning to expand into a wider range of produce like fruiting and vine crops. The company mainly supplies hotels, restaurants and grocers as well as offering additional subscription packages for direct-to-home delivery through their website. “We are at the point in history where we cannot overlook the importance of investing in the right companies that can change“Food security is a major issue faced by many countries as a result of climate change, rising population, and limited supply of farming areas,“Their innovative solutions are ensuring that our supply chain remains intact and healthy for generations to come,” he added. Khazanah initiated Project Semai, a nationwide research project to better understand the challenges faced by agriculture workers and smallholders to improve Malaysia’s food security. A nationwide survey was conducted, involving over 3,000 smallholders between 2022 and 2023. Climate change was identified as one of the top three challenges faced by smallholders in Malaysia. Therefore, climate-smart agrifood solutions would be critical to enable sustainable and resilient agrifood systems. GDIV is part of Khazanah’s Future Malaysia Programme (FMP), an initiative under the sovereign wealth fund’s Dana Impak (Impact Fund) mandate, with the aim to support the Malaysian start-up ecosystem. Dana Impak is a key pillar of Khazanah’s Advancing Malaysia strategy that aims to deliver socioeconomic impact for Malaysia across six themes – 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. Gobi Partners invests in Malaysia’s e-waste recycling firm ERTH

https://technode.global/2023/10/02/malaysias-tnb-accelerates-commitment-to-3-netr-flagship-project-in-large-scale-clean-energy-and-re-zones/

Malaysia’s TNB accelerates commitment to 3 NETR flagship project in large scale clean energy and RE zones

Malaysian utility firm In a statement on last Friday, TNB President and Chief Executive Officer Baharin Din unveiled the firm’s plans to generate a total of 3,000 megawatts (MW) of renewable energy by 2040 within the ambit of its NETR flagship projects. This includes harnessing 2,500MW through innovative hybrid hydro-floating solar (HHFS) technology, alongside an additional 500MW from five distinct LSSPs, with a 100MW capacity each. According to him, the HHFS project will be executed in four phases from 2023 to 2040, located at TNB hydro dam reservoirs. He said that TNB Power Generation Sdn Bhd (TNB Genco) will lead the construction of a 230MW capacity installation at the Temenggor and Chenderoh hydro plants as part of the 2.5GW pipeline. The project targets completion by 2025. “TNB’s role as the champion behind the Large-Scale Solar Park (LSSP), Hybrid Hydro-Floating Solar (HHFS), and co-firing hydrogen and ammonia projects, all of which are integral to advancing the nation’s green agenda while fostering economic growth,” he said. He also said TNB’s Energy Transition Plan aligns with the NETR, emphasizing three key pillars: accelerating generation decarbonization, developing a flexible cross-border grid, and empowering crosssector electrification and prosumers. Baharin also said that TNB’s New Energy Division (NED) is supporting the Corporate Green Power Program (CGPP) and is set to generate 90MW when it becomes operational in 2025. According to him, the program addresses the growing demand for sustainable energy solutions through LSSPs, complementing existing projects in Sepang, Selangor (50MW), Bukit Selambau (30MW) and Bukit Selambau 2 (50MW) Kedah which is projected to be fully operational by the end of this year. It is noted that TNB is partnering with National Petroleum Limited (Petronas) for co-firing hydrogen and ammonia projects and with Mitsui & Chugoku for ammonia and biomass initiatives, aiming to diversify its energy sources. “Small-scale co-firing projects are underway at selected coal plants in Port Dickson, Negeri Sembilan (Jimah East Power), and Lumut, Perak (Manjung 1 and Manjung 4). This Front End Engineering Design (FEED) phase serves as a crucial prerequisite for the co-firing implementation, that we are targeting for specific coal assets,” he said. He also said TNB is on track to achieve its 8.3GW renewable energy (RE) target by 2025. “As of June 2023, we have already achieved 48 per cent of our total target capacity. Including NETR Part 1 projects, we anticipate adding another 1,200MW of domestic RE capacity by 2025,“We firmly believe that domestic RE will play a pivotal role in our portfolio, aligning with the nation’s objective of reaching 70 per cent installed RE capacity by 2050,” he added. He noted that TNB is actively fostering partnerships with regional counterparts to support the realisation of the ASEAN Power Grid (APG). “We have secured 10 Memorandum of Understanding and Letters of Intent, signifying our commitment to advancing interconnection infrastructure development and renewable energy investments, “This underscores TNB’s dedication to regional collaboration and sustainable energy progress,” he said. Baharin also emphasized that these NETR initiatives would not only contribute significantly to the nation’s economy but also to meeting the country’s net zero carbon aspiration. “We take pride in TNB’s ability to make significant contributions to the Nation through our participation in pivotal projects while simultaneously ensuring the readiness of our Grid for the challenges of the future,” he said. Malaysia’s TNB partners Laos’s EDL to boost cross-border renewable energy trade

https://technode.global/2023/09/28/atozero-asean-2023-to-be-held-in-klcc-malaysia-from-oct-4-6/

AtoZero Asean 2023 to be held in KLCC, Malaysia from Oct 4-6

AtoZero ASEAN 2023Accelerating Net Zero Pathways across AsiaThe race to net zero is our generation’s biggest and most important challenge. A challenge we cannot fail. Scientists recently warned that we are likely to breach the 1.5 degree threshold by 2027 – the world is certain to experience new record temperatures in the next 5 years. Clearly, this is a time for the world to accelerate to zero. This calls for unprecedented global collaboration, bold initiatives, rapid deployment of innovation, financing meeting transition and transformation demands at speed – all whilst maintaining a secure affordable and accessible energy landscape. AtoZero, or “Accelerate To Net Zero”, is a new series of events bringing together key decision makers and changemakers to comprehensively explore pathways, policies and business opportunities that will catalyse an acceleration of net zero pathways. Co-located with the 14th International Greentech & Eco Products Exhibition and Conference Malaysia (IGEM), AtoZero ASEAN 2023 will feature a strategic conference, innovation exhibition and leadership dialogues at the Kuala Lumpur Convention Centre (KLCC) from Oct 4 – 6, 2023. AtoZero ASEAN is co-organised by Constellar and the Malaysian Green Technology and Climate Change Corporation (MGTC). As the Media Partner of the event, TNGlobal audiences are eligible for 20 percent OFF standard delegate rates with promo code: TNG20. Register here: Registration Site*AtoZero ASEAN 2023 is HRD Corp Claimable. For more details, kindly contact

https://technode.global/2023/09/27/malaysian-bourse-commences-carbon-credits-trading/

Malaysian bourse commences carbon credits trading

Malaysian bourse By the close of its second day of trading, ten companies from various industries transacted a total of 16,500 Verra-registered carbon credits, Bursa Malaysia said in a statement. The exchange said that this signals an encouraging start for Malaysia’s voluntary carbon market (VCM). “We are pleased with the successful go-live of the BCX trading platform. Bursa Malaysia’s efforts and agility underscores our speed-to-market in fulfilling a national mandate to facilitate the country’s shift towards a lower carbon economy,” said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia. For the commencement of trading, two standardized contracts were offered – the Global Technology-Based Carbon Contract (GTC), focusing on global technology-based greenhouse gas (GHG) reduction projects, and the Global Nature-Based Plus Carbon Contract (GNC+), which features global nature-based GHG reduction projects with co-benefits in the Agriculture, Forestry and Other Land Use (AFOLU) sector. Companies who took part in the go-live trading on BCX (beginning with the highest volume traded) were Vitol Asia Pte Ltd; Petro Ocean Sdn Bhd; Global Tunikara Sdn Bhd; Sumisaujana TCM Chemicals Sdn Bhd; Green Innotech Sdn Bhd; Graphene Synergy R&D Sdn Bhd; Yinson Holdings Bhd; ICT Zone Asia Bhd; CIMB Bank Berhad; Sisma Water Technology Sdn Bhd. “Interestingly, we observed a notable surge in participation by smaller companies, demonstrating the growing awareness of environmental responsibility among not just public listed companies, but also among small and medium-sized enterprises,“While the participation of large corporations remains vital, this shift indicates that there is wider embrace of sustainability practices, which suggests future broader demand for decarbonization projects,” added Umar. According to him, the bourse’s aspiration is to offer a variety of environmental solutions based on market needs. “We have received increasing requests from corporates seeking an independent and cost effective platform for renewable energy certificates (RECs) transactions, “Thus, we are pleased to announce our intent to offer RECs on BCX by the third quarter of next year,” he said. As a trusted and experienced exchange operator, he said Bursa Malaysia has a key role in the national energy transition, which is to facilitate financing in low carbon technologies, and accelerating availability of RECs. According to the statement, the BCX is one of the many initiatives by the exchange to complement proactive efforts by Malaysian companies to reduce their impact to the environment. “BCX will take time to build liquidity as it is in its infancy stage. In time, we are confident that our various ecosystem building efforts and offering of high quality environmental solutions will surely gain traction, “We urge leading companies to step up and be early active participants of the BCX, either as a supplier or a buyer,” Umar added. According to the statement, BCX is currently waiving its onboarding fee and offering a discount on its trading fee until the end of 2023. Companies who have yet to onboard or trade are encouraged to take advantage of the offer before the year ends. The BCX trading platform was co-designed and developed with Deon Digital AG, which is headquartered in Switzerland. Bursa Malaysia is an exchange holding company incorporated in 1976 and listed in 2005 and has grown to be one of the largest bourses in ASEAN today. BCX is a global spot exchange that enables corporates to take practical climate mitigation action through the trading of carbon credits from projects with measurable climate action outcomes that adhere to international standards. The carbon exchange was incorporated in 2022 and is operated by Bursa Malaysia Carbon Market Sdn Bhd. Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange

https://technode.global/2023/09/27/malaysian-care-giving-platform-kiddocare-secures-strategic-investments-in-pre-series-a-round/

Malaysian care giving platform Kiddocare secures strategic investments in pre-series A round

Malaysia’s on-demand caregiving platform Kiddocare has announced the successful conclusion of its Pre-Series A round. Kiddocare said in a statement on Wednesday that the round included strategic investments from prominent investors, led by Artem Ventures, with participation from Gobi Partners, MSW Ventures Asia Fund X and ScaleUp Malaysia. It said that Gobi Partners’ participation via the Khazanah Nasional Bhd-backed Gobi Dana Impak Fund (GDIV) underscores Kiddocare’s pivotal role in creating impact within the Malaysian economy and its promising future. It also said this investment strategically positions Kiddocare for accelerated growth and innovation. It said the company will leverage these resources to expand its platform, reach a wider audience, and create fresh opportunities for women, not only in caregiving but also across a multitude of sectors. “Central to our mission is the professionalization of caregivers. In an industry that often lacks recognition, we are committed to setting new standards,” said Kiddocare Founder and Chief Executive Officer Nadira Yusoff. “Through innovative technology, necessary training and certification, career paths and social safety nets, Kiddocare ensures that caregivers are equipped with the skills, knowledge and support necessary to provide top-tier care, “This investment reinforces our resolve to elevate caregiving as a respected and professionalized career of choice,” he added. Founded in 2019, Kiddocare is a homegrown childcare services platform that connects parents with verified childcare providers based on their preferences for time and location. The firm was initially formed as an initiative to create an ecosystem to support working parents by giving them the gift of freedom and time by connecting them with babysitters to care for their children. It is also Kiddocare’s aim to empower women who want to pursue childcare as a career or to generate extra income, by providing a platform for them to do so. According to Kiddocare, these caregivers undergo rigorous screening and training, adhering to the firm’s stringent protocols before joining the platform. To ensure utmost safety, a dedicated customer service team manages each booking, providing real-time updates. Kiddocare also simplifies the booking process through its user-friendly app, currently serving the Greater Klang Valley and expanding its reach to regions like Seremban and Johor Bahru, with nationwide expansion plans in the pipeline. The platform primarily caters to urban millennial mothers, who wield substantial purchasing power and seek reliable childcare solutions. Artem Ventures Managing Partner Low Zhen Hui said that the firm recognized Kiddocare’s potential to magnify the care economy by empowering women to become highly skilled caregivers. “Through the application of technology, caregivers have more options to not only expand their capabilities and knowledge but also explore new ways to evolve their careers with Kiddocare, “With our partner FWD Group, we aim to collaborate closely with Kiddocare in further enriching caregivers and enhancing customer experience,” he said While conventional childcare roles often yield less than MYR 2,000 ($425) per month, Kiddocare offers the potential for weekly earnings of up to MYR 1,500 ($319), affording women the flexibility to navigate motherhood and education. The Kiddocare Academy further provides opportunities for career advancement through specialized training programs for carers, such as counselling, eldercare, tutoring and entrepreneurship. Gobi Partners Managing Partner (Malaysia) Jamaludin Bujang said that the firm has been monitoring Kiddocare’s progress for several years, and it believes the current momentum warrants its investment. “While we recognize that managing the gig industry poses challenges, as it is inherently subject to leakages and low stickiness, we think that Kiddocare’s operating model is defensible, “As such, we believe it is poised to make a significant economic impact on the country. We’re confident the team’s ability to reach this ambitious goal,” he said. GDIV is part of Khazanah’s Future Malaysia Programme (FMP), an initiative under the sovereign wealth fund’s Dana Impak (Impact Fund) mandate, with the aim to support the Malaysian start-up ecosystem. “Acquisiting childcare services is a stressful, high-involvement parenting process, the triumvirate factors of quality, availability and consistency underwrite the decision-making process,” said MSW Ventures Asia Fund X General Partner Jeffrey Seah. According to him, Kiddocare has significantly reduced those parenting insecurities through their focus on quality – market-leading training programs, qualification-based service standards set by industry experts and building up a caregiver base motivated to constantly upgrade skills and service delivery. He also noted that the team has injected trust into a family care service acquisition platform built on the logistical reach of the gig economy. Meanwhile, ScaleUp Malaysia Senior Partner and Co-founder Dr. Sivapalan Vivekarajah said that the firm invested with Kiddocare in 2020, amidst the global crisis, recognizing the untapped potential in the care economy. “We’re thrilled to see Kiddocare evolve into a catalyst for economic growth and women’s empowerment. We’re committed to fueling this transformative journey,” he said. Malaysian preventive healthcare provider DrPrevents aims to secure $870,000 via ECF

https://technode.global/2023/09/26/malaysias-samaiden-partners-mbgb-to-advance-clean-energy-initiatives-in-apac-region/

Malaysia’s Samaiden partners MBGB to advance clean energy initiatives in APAC region

Samaiden Group BerhadSamaiden said in a statement on Tuesday that this collaboration aims to expand business opportunities and accelerate the growth of renewable energy solutions, particularly for the mining sector within the APAC region. The collaboration aims to establish a strategic relationship focused on mutual advancement in the clean energy sector. Leveraging the unique capabilities and resources of both Samaiden and MBGB, the partnership will introduce standardized procedures to assess financial, technical, and regulatory aspects, catalyzing growth in renewable energy initiatives in the APAC mining sector. Samaiden brings to the table its extensive knowledge and expertise in clean energy technology and comprehensive engineering, procurement, construction, and commissioning (EPCC) services. MBGB, on the other hand, will contribute its own insights into clean energy technology and resource optimisation. Together, they plan to jointly develop clean energy projects that will serve the mining sector across the APAC region. “This partnership signifies a milestone in Samaiden’s ongoing commitment to renewable energy, “Coupling the expertise of both Samaiden and MBGB, we are confident that this collaboration will establish a stronger and more sustainable energy landscape throughout the APAC region,” Samaiden Group Managing Director Chow Pui Hee said. MBGB Executive Director Derek Phang Kiew Lim, on the other hand, said that this collaboration aligns with the firm’s commitment to sustainable energy solutions and opens new avenues for both companies in the rapidly evolving APAC clean energy market. “We are excited to enter this partnership with Samaiden, one of the leaders in the renewable energy space,” he said. Samaiden through its subsidiary is a renewable energy specialist incorporated in 2013. The firm is principally involved in EPCC of solar photovoltaic (PV) systems and power plants. Samaiden’s other activities include the provision of renewable energy and environmental consulting services, as well as operation and maintenance (O&M) services. Meta Bright and its subsidiaries is involved in the hospitality business with the renowned four-star hotel Grand Renai in Kelantan. The group is also involved in investment properties and property development, currently focusing on its Damai Project in Sabah. In addition, the group has recently diversified into the energy industry as a Registered Solar PV Investor (RPVI), and the financing and leasing business, aligning with its strategy to enter into sustainable business activities to further grow the group. This diversification follows the successful turnaround of the group’s existing hospitality businesses, as a result of new management’s relevant business expertise. The group said it will continue to build o its core competencies while actively exploring various profitable business adjacencies to strengthen the group’s earnings. Malaysia’s Solarvest secures 11 solar photovoltaic projects in Vietnam

https://technode.global/2023/09/26/globalfoundries-opens-new-malaysia-office-to-support-global-manufacturing-operations/

GlobalFoundries opens new Malaysia office to support global manufacturing operations

United States-listed chipmaker GlobalFoundries said in a statement that this new facility will create 300 high-value manufacturing support roles, including technicians, engineers, administrative and support functions. According to the statement, the GlobalFoundries Malaysia office is part of a strategic hub network that leverages the company’s global footprint and complements its global fab operations by providing engineering resources to supplement operations on a real-time basis. This site will utilize the latest digital manufacturing technologies such as remote access, Industry 4.0 solutions and GlobalFoundries’s state-of-the-art Factory Control Tower. It is noted that the new Penang operation will ensure that all of GlobalFoundries’ global manufacturing sites in Singapore, the United States, and Europe have fundamental round-the-clock support enabling the company to maintain supply chain resiliency and sustainability for global operations, as GlobalFoundries continues to deliver on our commitments to meet the market demand for GF chips. “Our newly opened Malaysia operations will leverage the strengths of our existing global manufacturing footprint and harmonize operations across all sites, offering customers truly world-class global operations,” said Kay Chai (KC) Ang, Chief Manufacturing Officer, GlobalFoundries. “Penang is a vibrant location at the forefront of semiconductor manufacturing innovation, “The forward-thinking policies of the government have built a strong ecosystem and attracted a large base of highly skilled talent in our industry that will enable us to diversify our talent pool,” he said. According to the statement, the GlobalFoundries Malaysia office is located at Bayan Lepas, Penang, and will be a complement to the recently opened GF Singapore fabrication plant. The close proximity between both countries provides opportunities for cross-border initiatives and broadening the talent pool. “At a time where business and supply chain resiliency are key priorities, GlobalFoundries’ global manufacturing footprint sets the company ahead of the pack, “Particularly, the company’s emphasis on digital manufacturing also aligns with Penang’s goals and roadmap as we continue to anchor our position as the Silicon Valley of the East,” said Chow Kon Yeow, Chief Minister of Penang. Malaysia Digital Economy Corporation (MDEC) Chief Executive Officer Ts. Mahadhir Aziz said that the establishment of GlobalFoundries new hub facility signifies confidence in Malaysia’s robust and enabling ecosystem, its pool of digitally skilled talent and world-class infrastructure that affirms Malaysia’s position as the digital hub of ASEAN. “Through the Malaysia Digital (MD) national strategic initiative and PEMANGKIN programs, we look forward to supporting GlobalFoundries’ expansion in Malaysia, transforming our digital capabilities, creating job opportunities, and further enhancing growth in the digital economy,” he said. According to the statement, Malaysia hopes to achieve a 15 percent market share in the semiconductor and electronics industry by 2030, up from 13 percent. The State, via InvestPenang, strives to provide continuous assistance and facilitation for all investors in Penang, while spearheading the development of a sustainable industrial ecosystem, and GlobalFoundries stands ready to support this effort with the opening of its new office. GlobalFoundries one of the world’s leading semiconductor manufacturers. The firm developes and delivers feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. It offers a unique mix of design, development and fabrication services. Bosch invests $384M for new semiconductor backend site for chips in Malaysia

https://technode.global/2023/09/26/malaysias-nexmind-raises-seed-funding-from-500-global-launches-text2social/

Malaysia’s NexMind raises seed funding From 500 Global; launches Text2Social

NexMindNexMind said in a statement that the new funding will be used to expand the firm’s product offerings and accelerate customer acquisition worldwide. The firm also launched Text2Social, a new robust feature that increases user efficiency by allowing them to generate engaging social media posts across multiple channels with just one click. According to the statement, this is a significant development that allows users to create social media posts in any of the 17 languages, ensuring their message is localized and relevant to garner higher engagement. The tool conducts in-depth audience research to identify multiple data points useful for generating effective social media content, enabling marketers to spend less time on data analysis, and more time implementing data-driven decisions that support their marketing and communication goals. “Our focus is to help business teams generate more leads, increase brand awareness, and enhance their productivity through advanced yet intuitive AI tools, “We are proud to have the support of 500 Global in our mission to be a world-class AI solutions provider,” said Francis Lui, Chief Executive Officer and Founder of NexMind. Founded in 2019, NexMind has been self-funded and operating profitably since 2021. The company empowers professionals across industries with advanced SEO tools to create search-optimized content in 17 languages effortlessly through its proprietary AI framework. “There are 5 billion internet users in the world, and 3 billion more are projected to come online by 2040. To reach them you’ll need to speak their languages, “We believe NexMind’s multilingual AI solutions will propel the growth of today’s online businesses, accelerate the exchange of goods and services for the next wave of internet users, and have a positive impact on the future of our global economy,” said Khailee Ng, Managing Partner, 500 Global. According to the statement, among the languages supported currently are Bahasa Indonesia, Bahasa Malaysia, English, French, German, Italian, Japanese, Korean, Portuguese, Russian, Spanish, Tagalog, Thai, and Vietnamese. NexMind simplifies and streamlines how brands create multilingual search-optimized content that ranks on search engines like Google and Bing, as well as eCommerce marketplaces like Amazon, Lazada, and Shopee, allowing brands to boost organic traffic to their website and online stores to reach a global audience. The firm was co-founded by Francis Lui (Chief Executive Officer), Bernie Law (Chief Product Officer), and Pattrine Hong (Chief Financial Officer). Lui previously founded Nexus Mediaworks International, Malaysia’s first SEO company and a Google Premier Partner agency. Following its success, he launched NexMind in 2019 to build a platform that makes the digital marketing skills he acquired over a decade accessible to everyone in seconds. NexMind’s users are from leading global and regional companies across multiple industries, including banking, insurance, electronics, security, information technology (IT), telecommunication, construction, transport, healthcare, and more. Malaysia Airports, Asia Mobiliti enter strategic collaborations with Google Cloud to enhance travel experiences in Malaysia

https://technode.global/2023/09/26/malaysias-solarvest-secures-11-solar-photovoltaic-projects-in-vietnam/

Malaysia’s Solarvest secures 11 solar photovoltaic projects in Vietnam

Malaysian clean energy firmSolarvest said in a statement on Thursday that the projects have been secured via its wholly-owned subsidiary, Solarvest (Vietnam) Co. Limited. Solarvest said that it will play a pivotal role as a clean energy developer for these secured projects, actively engaging in project development, financing procurement, and the provision of comprehensive operations and maintenance services. It said the group is collaborating with a renowned local partner that will deliver engineering, procurement, construction, and commissioning (EPCC) services for these projects. It also said the group’s expansion into the Vietnamese market aligns with its commitment to address the surging demand for sustainable energy solutions. Currently, Solarvest boasts a robust project tender book of 100 MWp in the country, demonstrating its dedication to the growth and development of clean energy initiatives in the region. “We are delighted with the progress of our overseas expansion efforts, which is well-aligned with our 5-year strategic roadmap,“Including Vietnam, our overseas project tender book now stands at 620 MWp, indicating a strong job pipeline for the Group. This strategic expansion positions Solarvest favorably to tap into new streams of overseas income,” Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Shiong said. According to him, the prospects in Vietnam’s clean energy market are highly promising, with its commitment to transition away from coal as outlined in the Vietnam Eight National Power Development Plan (PDP8). He said that the PDP8 establishes ambitious goals in the country’s energy generation mix, aiming for renewables installed capacity to reach 150 gigawatts (GW) by 2030 and 500 GW by 2050. Consequently, he said Vietnam’s Ministry of Industry and Trade (MoIT) recently introduced a mechanism to incentivize the development of rooftop solar power systems, with a vision of equipping half of the country’s office and residential buildings with rooftop solar panels by 2030. “As part of our strategic expansion plan, we are advancing across the value chain as a comprehensive clean energy developer for our overseas projects,” he said. Given the focus on solar and wind energy within PDP8, where solar and wind energy are projected to account for approximately 34 percent and 27 percent, respectively of the 500 GW installed capacity, he said the firm is actively exploring wind energy projects alongside its ongoing solar ventures in Vietnam. “Furthermore, we are venturing into innovative sustainable solutions, including battery energy storage systems (BESS), to enhance energy supply reliability and efficiency within our Vietnam projects, “These efforts are aimed at strengthening our foothold in both the domestic and international clean energy markets,” he added. Solarvest is a clean energy expert with a multi-national presence across Asia-Pacific. The Malaysia-based company started as a one-stop solar PV system solution provider for residential, commercial and industrial, and utility-scale solar farms. Today, Solarvest also owns renewable energy generation plants with a cumulative capacity of over 100MW (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. Malaysia’s Solarvest partners Centexs, Huawei, Greenbay to launch hyperscale green data center testbed and training program

https://technode.global/2023/09/26/meraque-paves-the-way-for-robotics-automation-in-agriculture-for-malaysia-with-nations-first-ever-plantation-agv/

Meraque paves the way for robotics automation in agriculture for Malaysia with nation’s first-ever plantation AGV

Meraque Group (Meraque)Meraque said in a statement on Tuesday that as an autonomous AGV, RACE is designed to navigate the intricate and challenging terrain of agricultural environments. It said RACE boasts a suite of impressive features that promise to redefine precision and efficiency in the industry. Its features include artificial intelligence (AI) powered mobility control, long-range (LoRa) real-time data transmission, light detection and ranging (LiDAR) navigation, an expansive 500-litre smart liquid tank, 12-metre maximum spray width and a robust 30° terrain-climbing capability. According to the statement, Meraque has secured patents for the incorporation of real-time kinematic (RTK) LoRA technology, swarm technology and smart spraying within the RACE system. Meraque designed RACE to decrease dependence on foreign labor and enhance fertilizer spraying consistency in various crop and plantation fields, moving beyond just oil palm plantations. With a high-power computing module in the brain and AI, RACE is able to navigate its way autonomously between plants, and analyze surroundings for decision-making and routing, while setting boundaries using high-precision location points. RACE also comes equipped with 360° vertical and horizontal directional spray functions, autonomous driving capabilities, a 700-kilogram maximum load capacity, advanced obstacle avoidance detection systems and an electronic parking system. The official launch of RACE signifies Meraque’s evolution from a company primarily focused on drone technology to one that champions robotic automation, powered by artificial intelligence (AI,) specifically tailored for the agriculture sector. This transformation underscores Meraque’s commitment to reshaping and modernizing the industry through cutting-edge technology. Meraque is a visionary Malaysian robotics solutions company pioneering technological innovation using artificial intelligence. The firm specializes in cutting-edge robotics solutions that boost efficiency, productivity, and sustainability in agriculture, while driving positive transformationIts portfolio includes autonomous ground vehicles, hybrid drone technology, enterprise software, and hardware solutions for palm plantation management, telco infrastructure inspection, and commercial drone deliveries. Meraque currently commands Malaysia’s largest market share for drone spraying services and harbors bold ambitions. By 2025, the company aspires to be among the top 10 largest agricultural technology (AgTech) robotic automation companies globally. Meraque envisions a transformative role for itself within the agriculture industry, driven by digitalization and innovation. Thus, the launch of RACE represents a significant milestone in this journey. With a dedicated commitment to meeting the burgeoning demands of the palm oil plantation sector and other extensive agricultural landscapes such as durian, rubber, coconut, paddy fields, and pineapple, Meraque said it has successfully trained and employed over 250 individuals. Chief Executive Officer of Meraque, Md Razalee Ismail said that the company’s commitment to innovation and sustainability has driven them to develop RACE to not only transform the industry but also advance Malaysia’s agricultural prowess on the global stage. “As we stand on the precipice of a new era in agriculture, the launch of RACE marks a pivotal moment in our journey at Meraque. With RACE, we have evolved from a drone company to a leader in robotic automation, and this is just the beginning, “We want to play a significant role in realizing Malaysia’s goal of becoming a prominent hub for robotics in services, agriculture and manufacturing, and achieving recognition as a high-tech nation by 2023,” he said. According to the statement, the technology has already undergone rigorous real-world testing in plantations, leaving clients highly satisfied with its capabilities. Following the launch, RACE will undergo commercialization. As Meraque continues to push the boundaries in agriculture through automation and cutting-edge technology, RACE serves as a testament to the company’s dedication to propelling the sector into a sustainable and technologically advanced future. “We envision a future where technology empowers the agriculture industry and enhances food security, “We are excited about the opportunities ahead and remain dedicated to making agriculture smarter, more efficient and more sustainable for everyone,” Razalee Ismail added. According to the statement, Malaysia emerged in the 14th spot on the Automation Readiness Index and Robot Density. As an integral component of the National Robotics Roadmap, Malaysia is setting its sights on becoming a prominent regional hub for robotics in sectors such as services, agriculture and manufacturing by the year 2030. In line with this vision, the country has identified the agriculture industry as one of its high-impact sectors. Notably, the Malaysian robotics market is poised for substantial growth, with a projected compound annual growth rate of 17.5 percent expected to drive it to $273.61 million by 2027. Malaysia almost doubles its drone readiness within one year

https://technode.global/2023/09/22/malaysias-vanda-re-receives-conditional-approval-for-cross-border-clean-energy-project/

Malaysia’s Vanda RE receives conditional approval for cross-border clean energy project

Malaysian clean energy firm Gentari said in a statement Friday that the approval was obtained for a 300MW (0.3GW) power generation project on Indonesia’s Riau Islands – part of a joint effort by the Singapore and Indonesian governments, to establish a green electricity trading corridor between the two countries. Gentari International Renewables is a wholly-owned subsidiary of Malaysian clean energy solutions company, Gentari Sdn Bhd, while Gurin Energy is a Singapore-based renewable energy company. The companies are among the five that were granted the said approvals. Vanda RE’s project targets to deliver 300MW of non-intermittent renewable energy to the Singapore market beginning 2027, and is underpinned by 2,000MW of solar photovoltaic installed capacity and supported by approximately 4,400MWh of battery storage, one of the largest such planned projects in the world. Vanda RE’s conditional approval is a continuation of the governmental cooperation between Singapore and Indonesia in the energy sector. “This approval from the EMA will further strengthen Gentari and Gurin Energy’s commitment to transforming the energy landscape in Southeast Asia and fostering a more sustainable future,” Gentari’s Chief Renewables Officer Low Kian Min said. “In the dynamic renewables sector, we rely on robust policies, frameworks and strong partnerships to scale our projects to reduce carbon footprints across borders, “We’re delighted be part of this initiative to generate progress towards creating a sustainable world for all,” he added. Malaysia’s Gentari rebrands WIRSOL Energy to officially commence operations in Australia

https://technode.global/2023/09/22/malaysias-kwap-launches-107m-to-boost-malaysias-venture-and-startup-ecosystem/

Malaysian pension fund KWAP launches $107M to boost Malaysia’s venture and startup ecosystem

Malaysia’s pension fund With a commitment to invest up to MYR 500 million ($106.6 million) over the next 18 to 24 months, KWAP is set to empower early-stage companies, drive innovation, and support economic resilience, KWAP said in a statement. According to the statement, Dana Perintis encompasses two strategic pillars: investments into selected Malaysia-focused venture capital (VC) funds and direct investments into early-stage companies. With an allocation of MYR 250 million ($53.5 million) for each pillar, KWAP’s initiative aims to accelerate growth within the Malaysian entrepreneurial landscape in line with KWAP’s sustainability commitment as a signatory of the UN Principles for Responsible Investment (PRI). “KWAP recognizes the potential for innovation and growth within Malaysia’s venture ecosystem,” said Hazman Hilmi Sallahuddin, Chief Investment Officer of KWAP. He sees Dana Perintis as an initiative that serves as a testament to the fund’s commitment to enhance the growth of Malaysia’s startup industry. “With Dana Perintis, we are not just investing financial capital, but also putting in our expertise, resources, and commitment to seeing these Malaysian startups succeed on a global stage, especially with the ones we are directly involved in,” he added. As one of Malaysia’s prominent investors, KWAP seeks to play a pivotal role in steering the nation toward a flourishing early-stage ecosystem. By strategically investing and addressing critical gaps, KWAP aims to propel the growth trajectory of the startup landscape, reaping attractive risk adjusted returns for its stakeholders. According to the statement, a substantial portion of up to MYR 250 million ($53.5 million) will be directed towards investing in VC funds with exposure focusing on Malaysia. This approach aligns with KWAP’s endeavor to support the development of a self-sustaining venture ecosystem. These VC funds serve as dynamic catalysts, nurturing innovative startups by providing essential capital and guidance. KWAP’s strategic investments will span the spectrum of the startup journey—ranging from accelerators to growth managers—contributing to the maturation of the overall Malaysian venture space. In parallel to the fund investments, another MYR 250 million（$53.5 million） will be committed towards direct investments into promising early-stage companies. This commitment echoes KWAP’s intention to nurture startups through growth and expansion stages. “We are dedicated to empowering startups and SMEs, supporting employment, and nurturing innovation，“In realising these visions, KWAP has already identified several potential startups to invest in, which currently employ more than 1,000 Malaysians from different backgrounds,” Hazman added. The launch of Dana Perintis is aligned with the Economy Madani initiative and reflects KWAP’s focus on empowering small and medium-sized enterprises (SMEs) for expansion, fostering economic growth and contributing to Malaysia’s entrepreneurial future. As KWAP implements this initiative, it remains conscious of its role and commitment to the pensioners who are its primary stakeholders, to spur the growth of the pension fund. Established in 2007, KWAP manages contributions from Malaysian federal government and relevant agencies made into the Retirement Fund to obtain optimum returns on its investments through soundThe fund will be applied towards assisting the Federal Government in financing its pension duties. In 2015, KWAP was officially appointed as an agent of the Malaysian federal government for the purpose of pension payment, gratuity, or other benefits.500 Global closes $143M across early-stage & growth vehicles for Southeast Asia; ropes in Khazanah, KWAP & EPF as LPs

https://technode.global/2023/09/21/malaysia-government-to-organize-a-startup-convention-in-the-near-future-report/

Malaysia government to organize a startup convention in the near future – report

The Malaysia government will organize a startup convention in the near future, among other things, to produce more local technopreneurs, the senate (Dewan Negara) was told on Wednesday. Economy Minister Rafizi Ramli said that the development of startup companies is a prerequisite for accelerating the country’s economic transition towards technology and digital-based industries, national news agency He said the government would also ensure that the venture capital ecosystem continues to be strengthened to expedite the formation of technology-based startups. “This includes special initiatives to gather funding from government-linked companies (GLCs). Furthermore, emphasis will also be given to investors and early-stage startups to empower more local talents as technology creators and developers,” he said when tabling the motion on the 12th Malaysia Plan Mid-Term Review. It was reported that the government plans to make Kuala Lumpur a regional hub for startup companies and the digital industry to attract investments and digital talents, with the goal of positioning Malaysia among the top 20 countries in the global startup ecosystem by 2030, the report added. Rafizi added that the government had allocated grants totalling MYR266 million ($56.73 million) this year to local startup companies to create more unicorn-level companies. Out of this amount, MYR63.9 million ($13.63 million) has been disbursed to date, he said. Malaysia’s Science & Technology Ministry looks into VCs’ suggestions to support tech startup ecosystem

https://technode.global/2023/09/20/siemens-and-progressture-solar-team-up-to-drive-malaysias-green-energy-transition/

Siemens and Progressture Solar team up to drive Malaysia’s green energy transition

German multinational technology firm The two companies said in a statement on Tuesday that they have officially inked a Memorandum of Understanding (MoU) to advance converged energy solutions that integrates energy efficiency (EE) and renewable energy (RE). This partnership aims to engage and collaborate with industry players to deliver seamless energy solutions that enable substantial emissions reduction, and aid businesses to adopt sustainable, environmentally conscious business practices. As enablers of industrial decarbonization, Siemens and Progressture Solar are simplifying the adoption of renewable energy and energy efficiency through easy and accessible ownership models. The goal is to expedite Malaysia’s efforts to halve carbon emissions by 2030, as targeted in the New Industrial Master Plan (NIMP) 2030, and to drive towards the National Energy Transition Roadmap (NETR) net-zero aspirations by 2050. At its core, the partnership is built upon a shared vision to significantly reduce energy consumption and grid dependency, delivering tailored energy solutions for both multinational corporations (MNCs) and small and medium enterprises (SMEs) in the industry sector. The partnership will also encompass technical support, resource sharing, and expertise exchange within the solar and energy market landscape between both companies. In the collaboration, Siemens will provide energy audit services, energy efficiency solutions and energy management through digitalization and automation. Progressture will serve as Siemens’ primary solar partner for existing and potential ventures and will begin to offer ‘bundle-packaged’ array of energy solutions, seamlessly integrating energy efficiency solutions with renewable energy. “We are keenly aware of the challenges that businesses face when adopting clean energy solutions and energy-efficient technology, and that is why we are committed to present a wide spectrum of accessible and easy ownership models,” said Ng Yew Weng, Co-Founder and Chief Operating Officer of Progressture Solar. From Zero CAPEX and outright purchase options to flexible leasing solutions, he said the firm’s goal is to ensure accessibility for all, regardless of their energy needs or financial constraints. In doing so, he said the firm will help businesses to reduce their energy costs, improve their overall operations and meet their environmental, social, and corporate governance (ESG) commitments. According to the statement, the industrial sector is a major contributor to global carbon emissions. Currently, 78.5 percent of the carbon emissions in Malaysia are still derived from fossil fuels. It is therefore crucial for the industrial sector to urgently reduce its carbon footprint. By providing sustainable energy solutions, the partnership between Progressture Solar and Siemens will be able to provide industry with the right solutions to significantly reduce these emissions and enable companies to meet their sustainability targets. This aligns with Malaysia’s NETR and its goal of achieving a 70 percent renewable energy capacity mix by 2050. “Siemens is committed to transform the industry and infrastructure sector in Malaysia through digitization and automation, “These are key levers enabling companies to use energy more efficiently, reduce carbon emissions, and therefore foster a more sustainable industry practice,” said Tindaro Danze, President and Chief Executive Officer of Siemens Malaysia. Siemens is a global technology powerhouse with the expertise to combine the real world of automation with the digital world of information technology, to enable clients to accelerate their digital transformation. Progressture Solar is a a clean energy solutions provider and net zero partner in Malaysia, providing comprehensive and accessible renewable energy solutions to commercial and industrial (C&I) clients. The firm provides all-in-one clean energy solution and flexibility in tailoring a solar photovoltaic system to meet the unique needs of their C&I clients. Malaysia’s Solarvest partners Centexs, Huawei, Greenbay to launch hyperscale green data center testbed and training program

https://technode.global/2023/09/20/celcomdigi-and-yinson-seal-partnership-to-elevate-malaysias-emobility-ecosystem/

CelcomDigi and Yinson seal partnership to elevate Malaysia’s eMobility ecosystem

Malaysian mobile service provider The duo said in a statement on Tuesday that hey have sealed a Memorandum of Understanding (MoU) for the deal. The collaboration enables Yinson to leverage CelcomDigi’s widest, fastest 4G LTE and 5G network to power up the connectivity for chargEV, the nation’s largest charge point operator, as well as for rydeEV and drivEV in the eMobility space. In addition, both companies will work together to explore new, innovative solutions that will allow consumers to stay connected while having easier everyday access to clean, technology-enhanced services including eBikes, electric vehicles, EV charging stations and solar infrastructure integration. CelcomDigi’s Chief Executive Officer Idham Nawawi said that via its Innovation Center, the company continues to strengthen its commitment as the digital enabler for Malaysians, bringing innovation and IoT solutions beyond telecommunication services to connect lives everywhere and enhance Malaysians’ digital lifestyle. “This is a significant milestone in our long-standing partnership with Yinson – the first time in Malaysia that a telecommunication service provider teams up with a global energy infrastructure and technology company to jointly innovate the way we bring EV services to consumers,” he said. According to him, the automotive industry is undergoing radical transformation, with automakers agreeing that the next five years will bring about more change than the previous three decades, driven by the significant possibilities brought about by electric vehicles in particular, and green technology in general. “We are excited to work with Yinson to drive green-tech adoption among Malaysian consumers to support the nation’s energy goals as outlined in the New Industrial Master Plan 2030,“We will explore various opportunities, from enabling connected assets to developing a robust and integrated infrastructure ecosystem. We believe this will be the next future and sustainable movement for Malaysia’s mobility infrastructure and ecosystem,” he said. Yinson’s Group Chief Executive Officer Lim Chern Yuan said that connectivity and innovative technology are the building blocks of the efficient, clean and equitable transportation system of the future. “To this end, we are pleased to join hands with Malaysia’s largest mobile network operator CelcomDigi, further supported by progressive policies by the Malaysian government,“Together, we hope to put clean, integrated transportation solutions into the hands of everyday Malaysians, bringing us collectively closer to achieving the nation’s net zero goals,” he said. Listed on Malaysian bourse, Yinson’s activities comprise five business units: Yinson Production, Yinson Renewables, Yinson GreenTech, Farosson, Regulus Offshore. Yinson GreenTech is a green solutions provider that aims to deliver a clean, integrated and technology enhanced ecosystem across the marine, mobility, energy and digital segments through investments in novel green businesses, research and development (R&D) and strategic partnerships. CelcomDigi is Malaysia’s largest mobile network operator with more than 20.48 million users on its network. Established on December 1, 2022 from the merger of Celcom and Digi, the company aims to serve the growing digital needs of its customers by leveraging its newly combined widest network footprint, distribution touchpoints, innovative range of digital products and services, and superior customer experience powered by over 3,800 top industry experts. Yinson GreenTech inks partnership with Pos Malaysia to launch EV charging stations

https://technode.global/2023/09/20/malaysian-bourse-inks-mou-with-thai-indonesian-bourses-to-set-up-asean-esg-ecosystem/

Malaysian bourse inks MOU with Thai, Indonesian bourses to set up Asean ESG ecosystem

The The trio said in a statement on Tuesday that this MoU signifies the collective commitment of the three exchanges to explore the establishment of an inter-regional ESG linked ecosystem that drives business value creation whilst fostering sustainable development across ASEAN. The MoU marks a significant milestone in enhancing regional cooperation and advancing sustainability in ASEAN. It also signifies a commitment to greening supply chains, while recognizing the potential to optimize the interconnectedness and comparability of ESG data within the region. By combining expertise and resources, Bursa Malaysia, IDX, and SET aim to collaboratively spur the adoption of good ESG practices and drive responsible growth in their respective markets, while offering cross-border opportunities related to ESG investments across the three markets. According to the statement, the collaboration aims to identify commonalities within the ASEAN ESG ecosystem to facilitate cross-border trade, broaden business opportunities, and advance sustainable financing for corporations of all sizes and their supply chains in the region. The three exchanges will explore a range of initiatives, including but not limited to identifying critical components of the ESG infrastructure to support companies in pursuing decarbonization and sustainability across their supply chains, and establishing a “sandbox” environment designed to facilitate trade and create new business opportunities for corporations and their supply chains, including small and medium enterprises. They will also leverage expertise in ESG practices via workshops, training sessions, and knowledge-sharing programs to support enhancing the ESG ecosystem. “Through this partnership, we aim to enhance cross-border cooperation and seize opportunities to harmonize ESG measures and ESG infrastructure that promotes sustainable business practices in ASEAN, “This MoU establishes the groundwork for similar collaborations with other interested exchanges in Asia and lays a solid foundation for engaging partners from the Global North as well,” said Muhamad Umar Swift, Chief Executive Officer of Bursa Malaysia. Meanwhile, IDX President Director Iman Rachman said that this MoU reflects the trio shared vision of creating a sustainable future for their capital markets. “We believe that collaboration is a key in driving positive change in the region, “We look forward to work closely with Bursa Malaysia and SET in developing innovative solutions that benefit our stakeholders, and contribute to the development of resilient and responsible companies,” he said. SET President Pakorn Peetathawatchai also said that SET is committed to promoting ESG practices in the Thai capital market. “This collaboration with Bursa Malaysia and IDX allows us to cocreate an interconnected ESG ecosystem, supports an integration of ASEAN markets as an asset class to attract international investors, as well as provides opportunities for knowledge-sharing, enabling us to leverage each other’s strengths to create a more sustainable future for our markets,” he said. The signing of this MoU builds on the recent commitment among ASEAN Exchanges to standardize ten governance metrics for each ASEAN stock exchange to apply as guiding disclosure principles among respective listed companies. Bursa Malaysia and RAM collaborate on a new debt fundraising platform

https://technode.global/2023/09/19/malaysias-ram-partners-mvgx-tech-crm-to-expand-esg-analytics-capabilities/

Malaysia’s RAM partners MVGX Tech, CRM to expand ESG analytics capabilities

Malaysian credit rating agency In the collaboration, RAM will incorporate MVGX’s decarbonization rating system into its sustainability services offerings, with customizations to suit local needs, the trio said in a statement on Tuesday. According to the statement, CRM and RAM will also jointly work together for the marketing and support for users of the solution. The new decarbonization rating solution from RAM, to be deployed online, will enable companies to measure their carbon emissions for Scope 1, 2 and 3, as well as effectively strategize their decarbonization journey. RAM’s decarbonization rating system leverages a proprietary methodology developed by MVGX, in consultation with TÜV SÜD, an ISO certification body. Companies will be objectively rated based on emission measurements in addition to other dimensions and are given a ranking along with a detailed rating report, which is then verified by TÜV SÜD. MVGX’s decarbonization rating system give businesses the assurances that their disclosures are of ISO quality and certified by globally-recognized sustainability standards providers such as the British Standards Institution (BSI) and TÜV-SÜD. The decarbonization rating system is a core component of MVGX’s Carbon Connect Suite, a holistic, end-to-end suite of products and services that are designed to guide corporations and institutions in their decarbonization journeys. The Carbon Connect Suite is based on a comprehensive framework anchored in the principles of define, measure, mitigate, offset, certify, and finance. “Asia has huge potential for low carbon investments and energy transition opportunities, “Southeast Asia’s green future economy requires $2 trillion in new investments by 2030 and potentially create 5 million new jobs,” said Chris W. K. Lee, Group Chief Executive Officer and Executive Director of RAM Holdings Bhd. According to him, current reports however suggest that 2050 net-zero carbon emission targets risk being delayed. While many large and listed corporations have begun reporting and addressing their emissions, he said many companies are still struggling to start their decarbonization journeys, hampered by a lack of knowledge, financial means, or tools. “Our collaboration with CRM and MVGX aims to bridge these gaps by providing a world-class, proven and affordable solution for companies to measure and track their emissions and in doing so, facilitate their low carbon journey, “We hope with this solution and our other sustainability services, RAM is able to support the realisation of Malaysia’s moonshot aspirations and net-zero goal by 2050”, he added. Meanwhile, MVGX Executive Chairman Bo Bai said that its partnership with RAM and CRM is a step in the right direction for local enterprises and they are thrilled to be supporting them with the much-needed tools and advisory as they embark on their decarbonization journeys. According to him, this is especially critical for businesses amid the government’s concerted push for sustainability under the MADANI Economic Roadmap, crystallized in various masterplans such as the new Industrial Master Plan 2030 and the National Energy Transition Roadmap. “Sustainability is now increasingly a necessity, rather than a nice-to-have, “This has led us to choose to partner with RAM, which has under its umbrella, the leading accredited rating agency and a strong proponent of sustainability anchored by deep analytical capabilities,” he added. CRM Executive Chairman Nor Azamin Salleh also opined that this partnership opens up possibilities for Malaysian companies to look into embarking into their decarbonization journey and to address the issue of their carbon footprint in a more accurate and affordable manner. “As we strive to harmonize economic growth with environmental stewardship, it becomes imperative to address the carbon emissions conundrum, “A uniformed and regulated carbon ratings system can serve as the cornerstone of Malaysia’s decarbonization efforts, fostering transparency, accountability, and a resilient green economy,” he said. RAM and its group of companies is a provider of independent credit ratings, sustainability and ESG analytics, macroeconomic and fixed income research, risk analytics and consulting, as well as bond pricing and information services. With a deep databank and analytical resources, the firm delivers precise analysis and credible insights that help investors and market participants make better decisions. MVGX is a carbon Software-as-a-Service (SaaS) company that has developed carbon solutions that empower corporations, governments, and institutions to take action at every stage of their decarbonization journey. Consolidated under the Carbon Connect Suite, MVGX Tech’s products, services, and software focus on carbon measurement, reporting, and verification as well as decarbonization rating, carbon credit development and issuance, carbon credit listing and registry, and carbon credit trading. CRM is an advisory firm that specializes in curating and developing innovative environmental technology and solutions to clients. With a focus on carbon solutions and ESG related topics, CRM provides its customers with bespoke solutions that add innovation and value by partnering with technology partners and solution providers. IDX partners MVGX to develop Indonesia’s carbon exchange system

https://technode.global/2023/09/18/sunview-partners-uob-malaysia-to-help-businesses-and-consumers-adopt-renewable-energy/

Sunview partners UOB Malaysia to help Malaysian businesses and consumers adopt renewable energy

Malaysian sustainable energy solutions provider Sunview said in a statement on Monday that its wholly-owned subsidiary Fabulous Sunview Sdn Bhd has signed the agreement with UOB Malaysia for the partnership. According to the statement, Sunview, who is a prominent renewable energy player involved in the engineering, procurement, construction and commissioning (EPCC) and other related activities, now joins the bank’s U-Solar program as its tenth engineering, procurement, construction and commissioning (EPCC) partner. Under the agreement, Sunview will provide services in the development, planning, procurement, as well as construction and maintenance of solar photovoltaic (PV) system for commercial, industrial, residential and large scale solar (LSS) projects. UOB Malaysia will in turn provide Sunview with financing to complete the projects, as well supply chain support including access to U-Solar’s ecosystem of equipment suppliers. In addition, Sunview’s customers will also be able to obtain end user financing options when acquiring Sunview’s products and/or services. “We are delighted to join UOB Malaysia’s U-Solar programme as its tenth EPCC partner,“This strategic partnership serves as a testament to our established track record and promising growth prospect,” Sunview Executive Director and Chief Executive Officer HP Ong said. He is confident that the partnership will enhance the firm’s financial capacity for its operations activities and market expansions. “Moreover, it benefits our customers by providing end-user financing options,” he said. Given the recent surge in activities in the solar industry due to newly introduced schemes and policies, he is optimistic that this partnership will strategically position us to seize the upcoming opportunities. “Thus, we look forward to a fruitful collaboration with UOB, leveraging on these facilities to further reinforce our position within the solar industry,” he added. It is noted that Sunview began its banking relationship with UOB Malaysia when the group secured financing to complete two solar PV development projects under the government’s LSS contracts in Pendang, Kedah and Kuala Langat, Selangor, respectively. By becoming part of U-Solar ecosystem partners, the group will now enjoy better payment terms when they purchase from the U-Solar’s approved equipment suppliers apart from green financing for a smoother financial supply chain management. “We are pleased to expand our relationship with Sunview, now it has become U-Solar’s 10th EPCC partner. We expanded U-Solar to address cash flow issues and working capital gaps for developers and contractors who typically have longer projects receivable terms and may face short payment terms from equipment suppliers,“Sunview will now be able to finance the purchase of equipment and work on multiple solar projects simultaneously, and speeding up the rate of solar adoption for the country to reach its net zero ambitions,” UOB Malaysia Managing Director and Country Head of Commercial Banking Beh Wee Khee said. Sunview through its subsidiaries is principally involved in the EPCC of PV facilities. The facilities are for large scale solar projects, 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. Malaysia’s Sunway accelerates net zero ambitions with Cambridge-based Deeptech Labs

https://technode.global/2023/09/18/myeg-partners-beitou-it-innovation-to-spearhead-international-digital-identity-credentials-service-on-zetrix-blockchain/

MYEG partners Beitou IT Innovation to spearhead international digital identity credentials service on Zetrix blockchain

Malaysia’s e-government services provider MYEG said in a statement on Monday that this collaboration promises to innovate the digital landscape by harnessing the cross-border connectivity of the Zetrix blockchain. The mission revolutionizing cross-border credential verification and paving the way for the digitalization of critical documents, including government-issued identity credentials. At the China-ASEAN Expo held September 16-20 2023 in Nanning, MYEG and Beitou IT Innovation unveiled a decentralized application designed to issue digital driving licenses as verifiable credentials. Initially, this groundbreaking innovation targets Chinese nationals, heralding a giant leap forward in the arena of digital identity verification. This application allows holders of Chinese-issued driving licenses to seamlessly apply online for a digitalized version of their credentials. These digital documents are securely stored as Verified Credentials on the Zetrix blockchain. Hence, individuals can now use their credentials on a globally, wielding them not just as proof of driving prowess but as potent tools to confirm their identities. “The collaboration with MYEG is a key step of our ASEAN business development. The digital cross-border credential verification platform based on the international blockchain infrastructure is a very meaningful attempt for both MYEG and Beitou IT Innovation’s professional digital teams, “By leveraging the features of blockchain such as immutability and data security, this platform is able to provide the convenience to the cross-border communications of China-ASEAN people under the premise of legal compliance,” said Shuiping Lai, Chairman of Beitou IT Innovation. Meanwhile, Zetrix Founder and MYEG Group Managing Director TS Wong said that the firm continues to build real-world Web3 applications leveraging on its unique functionality of ensuring the authenticity of digitised documents, including identity credentials and trade documents. He said such applications will be the driver to bring 1 billion users to Web3. According to the statement, the digitalization of driving licenses on the blockchain empowers authorized third parties to instantly verify the authenticity of these credentials from anywhere. Thanks to blockchain’s immutability and fraud-proof attributes, digital credentials surpass their physical counterparts in terms of trustworthiness, being genuinely verifiable in real-time. It is also noted that such trustworthiness is crucial, especially for documents like driving licenses, which often serve as secondary forms of identity verification and are integral to Know Your Customer (KYC) processes worldwide. Beyond driving licenses, the partnership between MYEG and Beitou IT Innovation has its sights set on the transformative digitalization and verification of all manner of documents currently residing only in physical form. This initiative places a premium on authenticity and precision, offering a much-needed solution to streamline customer onboarding, transactions, and service deliveries through digitalization, all without compromising on the highest standards of safety and security. Furthermore, it plays a pivotal role in eradicating document fraud and falsification. This groundbreaking alliance capitalizes on the cross-border prowess of Zetrix, a Layer-1 blockchain developed by MYEG. Zetrix also hosts the international supernode of China’s national Xinghuo Blockchain Infrastructure and Facility, a combination that facilitates seamless cross-border issuance and verification of Verifiable Credentials on both Zetrix and Xinghuo. Beitou IT Innovation, a wholly-owned subsidiary of Guangxi Beibu Gulf Investment Group Co. , Ltd. , a prestigious top 500 Chinese enterprise, is at the vanguard of digital industry development. The company holds the coveted title of a national scientific and technological innovation demonstration enterprise and oversees the operations of the China-ASEAN Information Port Beitou Digital Technology Park. This groundbreaking initiative reinforces MYEG’s role as a trailblazer in the digitalization of cross-border economic and trade processes, particularly between China and the global community. In March, MYEG inked a pivotal agreement with East Logistic-Link Co. , Ltd. , a wholly-owned agency of the General Administration of Customs of the People’s Republic of China (GACC). Together, they’ve embarked on a mission to provide a comprehensive suite of cross-border trade facilitation services, including certificates of origin, all within the Zetrix ecosystem. Known as ZTrade, this service is already making waves in Malaysia and the Philippines, with ambitious plans to expand across ASEAN and the Regional Comprehensive Economic Partnership region. Malaysia’s MYEG seals deal to deploy blockchain-based customs clearance between the Philippines and China

https://technode.global/2023/09/18/airasia-digital-rebrands-as-next-move-with-new-leadership/

Airasia Digital rebrands as next MOVE with new leadership

In a strategic move to emphasize its commitment towards travel, the digital arm of Capital A, This rebranding marks an exciting chapter in its next phase of growth through both its businesses, airasia Superapp and BigPay, airasia Digital said in a statement on Monday. According to the statement, MOVE’s travel platform business, airasia Superapp will also undergo a brand refresh and change its name to ‘airasia move’ in the near future as part of the ongoing transformation. The Co-Founder of AirAsia and Chief Executive Officer of Capital A Tony Fernandes will also assume the role of Executive Chairman of MOVE. He will play a pivotal role in driving the close collaboration between both airasia Superapp (now airasia move) and BigPay to unlock the true potential and synergy of these digital businesses. “The name MOVE signifies us better as the digital arm of Capital A, and reiterates our commitment to move people, ideas and innovation forward within the travel space,“Imagine seamless access to travel and financial services on one single platform, with integrated financial features such as balance display, top-up and payments from BigPay and further strengthening the value proposition of airasia move as the travel app of choice,” said Tony Fernandes, Executive Chairman of MOVE. According to him, his role as the Executive Chairman of MOVE will be to enhance synergy between both businesses. With this change, he said the market can expect an enriching user experience aside from more integration of BigPay features within the airasia Superapp (now airasia move) very soon. In this new era of travel innovation for MOVE, he has also welcomed Nadia Omer into the organization as the new Chief Executive Officer of airasia move effective October 26. According to him, her key priority will be to further drive airasia move’s vision as a low-cost travel platform with high conversion, while closely collaborating with BigPay, led by Zubin Rada Krishnan. Meanwhile, Mohamad Hafidz, who is currently the acting Chief Executive Officer, will continue leading the business in the interim. It is noted that the airasia Superapp, or what will be called airasia move soon, has swiftly become a one-stop travel platform offering value and convenience through seamless end-to-end booking experiences within the past two years, while BigPay has established itself as an innovative fintech provider enabling Southeast Asians to improve their lives through better financial management. Both of Capital A’s digital businesses have been making significant strides, with airasia Superapp (now airasia move) reaching its highest recorded MAU (monthly active users) of 15 million at the end of the second quarter, while BigPay saw its carded users grow by 16 percent year on year for the same period. MOVE Digital Sdn Bhd (formerly known as airasia Digital Sdn Bhd) is the digital arm of Capital A Berhad, and encompasses two transformative businesses: airasia Superapp (now airasia move) and BigPay. MOVE is dedicated to revolutionizing the travel and financial services sectors by offering innovative, user-centric solutions at the best value. Malaysia’s airasia Superapp 2Q average monthly active users up 40 percent on year to 15M

https://technode.global/2023/09/18/malaysia-plans-to-establish-its-own-space-launch-site-develop-space-economy-report/

Malaysia plans to establish its own space launch site, develop space economy – report

The Science, Technology and Innovation Ministry (MOSTI), through its agency Malaysian Space Agency (MYSA), is studying the feasibility of establishing a space launching facility in the country, local media Science, Technology and Innovation Minister Chang Lih Kang said Malaysia had significant potential to establish its own space launching facility, as it hopes to create new economic opportunities. “If this becomes a reality, the facility would become the 16th in the world, making Malaysia just the ninth country to possess such a facility. Malaysia’s unique geographical position being located near the equator gives us an advantage in developing the space launching facility, with far more competitive operating costs,” he was quoted as saying in a statement. Chang also said that MYSA is liaising with several parties and industries that are keen on participating in the development of this facility. He added that the government’s involvement in this venture could lead to the creation of 500 space-related tech start-ups, 5,000 job opportunities and MYR10 billion ($2.13 billion) in value to the nation’s “space economy” by 2030. According to Chang, his ministry is in the process of formulating a national remote sensing satellite program through public-private partnership which is expected to commence in 2026. Malaysia’s Science & Technology Ministry looks into VCs’ suggestions to support tech startup ecosystem

https://technode.global/2023/09/15/malaysias-gentari-rebrands-wirsol-energy-to-officially-commence-operations-in-australia/

Malaysia’s Gentari rebrands WIRSOL Energy to officially commence operations in Australia

Malaysia-based clean energy solutions company With the rebranding, WIRSOL Energy will now be known as Gentari Solar Australia, Gentari said in a statement. According to the statement, this firmly establishes and anchors Gentari as a leading developer with integrated solar and battery energy storage system (BESS) and asset management capability in the Australian renewable energy market. It is noted that Gentari Solar Australia currently has 422 MW in gross installed capacity and 765 MW in potential capacity within its late-stage project pipeline. Andrew Barson leads as its Chief Executive Officer with a mandate to grow the company’s solar capacity and BESS capability in the country. Among the projects that Barson is overseeing are the Maryvale Solar and Energy Storage Project in New South Wales and the Barnawartha Solar and Energy Storage Project in Victoria, both expected to reach FID soon with a combined capacity of over 500 MW. “Gentari Solar Australia will be key in achieving our ambition to accelerate clean energy adoption,” said Low Kian Min, Gentari’s Chief Renewables Officer. In the immediate term, he said the firm will leverage its Australian assets as a building block to drive growth in utility-scale solar capacity and battery storage capability, towards increasing the share of renewables in Australia’s power generation mix. Looking further ahead, he said Gentari will also explore other clean energy technologies including wind power in Australia. According to the statement, Gentari’s current operations in Australia adds 422 MW of gross installed capacity to the company’s overall renewable energy portfolio, joining over 1 GW of capacity in Malaysia and India. In the longer term, Gentari’s planned growth in Australia, targeted to contribute more than 5 GW towards achieving its 2030 ambition of 30 to 40 GW globally, will be driven primarily by solar and wind operational assets. “In light of Australia’s market maturity and strong potential, coupled with an open access grid that offers opportunities for diversification, underpinned by supportive government policies and a robust financing ecosystem, we are looking at optimizing our solar energy resources while exploring wind generation and other technologies to supply green energy for hydrogen production in the future, “Beyond this, we are also interested in developing commercial capabilities and are monitoring opportunities in green mobility in the country,” said Low. Gentari currently has a diverse talent pool in Australia, recognizing the need for broad capabilities in the clean energy space. “We are excited to be part of Gentari’s future in Australia. In line with Gentari’s business growth in the country and rapidly expanding regional presence, we are set to add new employment opportunities across the renewable energy value chain,” said Barson. It is noted that in Australia, the national electricity market is transitioning away from coal-fired generation, which currently comprises 66 percent of generation, as existing power stations reach end-of-life. The Federal Government has set a Large-scale Renewable Energy Target (LRET) to promote renewable electricity generation, aiming to have 82 percent of the nation’s electricity generated by renewables by 2030 as part of an economy-wide target of cutting emissions by 43 per cent by 2030, based on 2005 levels. Petronas, Gentari, Amazon and AWS team up to accelerate clean energy growth

https://technode.global/2023/09/14/petronas-gentari-amazon-and-aws-team-up-to-accelerate-clean-energy-growth/

Petronas, Gentari, Amazon and AWS team up to accelerate clean energy growth

Malaysia’s state-owned oil and gas firm This aligns with Petronas’ commitment to deliver affordable, low-carbon energy solutions while concurrently reducing the emissions intensity of its operations, Gentari said in a statement. Leveraging Gentari’s expertise in clean energy solutions, the move also supports Amazon’s commitment to achieve net-zero carbon emissions by 2040. According to the statement, the collaboration between the parties reflects a comprehensive approach towards sustainability, technological advancement, and socio-economic progress, which will involve exploring potentials in the following areas:1. Gentari will support the decarbonisation of Amazon’s India transportation network by working with third party delivery service partners to further electrify their transport vehicles. Amazon has committed to deploying 10,000 electric vehicles (EVs) in its India delivery fleet by 2025, and the collaboration will also involve Gentari providing electric vehicles and accompanying fleet management services for Amazon’s third-party delivery service partners.2. Petronas and AWS will explore designing and constructing a state of-the-art plant of the future that incorporates cutting-edge technology, robotics, and automation solutions similar to those used in Amazon warehouses and facilities. This is to scale existing research and development efforts by Petronas for the potential production of microalgae oil as feedstock for sustainable aviation fuel.3. Amazon intends to evaluate Petronas’ low-carbon and alternative fuel solutions for potential integration in diverse areas such as mobility, stationary power applications, and carbon management.4. Petronas will continue leveraging AWS cloud technology to enhance and expand its existing and new solutions. These include SETEL, Malaysia’s e-wallet for purchasing fuel at Petronas stations, and STEAR, a cloud-based logistics solution and services platform built on AWS for the offshore industry.5. AWS will continue to upskill technical and non-technical employees at PETRONAS and strengthen their digital literacy through AWS Training & Certification programs. This is in line with AWS’ broader commitment to help develop a digitally trained workforce to power Malaysia’s digital economy. Petronas Senior Vice President of Project Delivery and Technology Bacho Pilong said that the firm believes that collaborations such as this, which builds on our long-standing relationship with Amazon and AWS and the expertise of Gentari in clean energy solutions, are vital to support Asia’s and the world’s transition towards cleaner energy. “We invite like-minded partners to join forces in strengthening a sprawling innovation ecosystem that can address the many challenges along our journey to actualize a sustainable future together,” he said. Meanwhile, Gentari Chief Executive Officer Sushil Purohit said that this collaboration between Gentari, Petronas, Amazon and AWS marks a pivotal moment as they strive to be at the forefront of energy transition, driving change to create a cleaner, more sustainable future. “In line with our aim of becoming a valued clean energy solutions partner via our comprehensive offerings in renewable energy, hydrogen, and green mobility, Gentari is excited to support Amazon’s responsible approach in decarbonising their operations and helping them achieve their net zero aspirations,” he said. AWS ASEAN’s Managing Director Conor McNamara, on the other hand, said that achieving a net zero future requires immediate and wide-ranging innovation across all industries, including the energy sector. “We are deepening our collaboration with PETRONAS and Gentari to support our shared goals of building a more sustainable world through nurturing expertise and technology, “Together with PETRONAS and Gentari, and with our upcoming AWS Region in Malaysia, we look forward to supporting businesses and communities to advance their climate and digitalization ambitions with the latest cloud technology and talent development,” he said. Gentari partners BMW Group Malaysia for green mobility and renewable energy

https://technode.global/2023/09/13/vietnams-ev-maker-vinfast-plans-asia-expansion-plans-to-build-plant-in-indonesia-in-2026/

Vietnam’s EV maker VinFast plans Asia expansion; to build plant in Indonesia in 2026

Vietnam-headquartered electric vehicle manufacturer VinFast, formed and almost entirely controlled by Vietnam richest man Pham Nhat Vuong, also plans to invest around $1.2 billion in the Indonesian market in the long-term, according to its filing to the to US Securities and Exchange Commission dated Sep 12. Pham is also the Founder of VinFast’s parent company Vingroup. “We plan to commence deliveries of our EVs in Indonesia in 2024 with right-hand driving models of the VF e34 and VF 5, with the VF 6 and VF 7 to follow. We have also identified Indonesia from among our seven new market clusters as a key potential market for the potential establishment of manufacturing facilities for our EVs and batteries due to the relatively low cost and availability of domestic raw materials,” VinFast wrote in its filing. “Based on our evaluation of the market opportunity in Indonesia, we have set a preliminary investment target of up to approximately $1.2 billion into Indonesia in the long-term. The target includes approximately $150 to $200 million that we envision applying toward the establishment of a Completely Knocked Down (CKD) facility, with production capacity in the range of 30,000 and 50,000 cars per year and a target production start date in 2026. Additional investments in the country up to the preliminary investment target would be subject to market conditions and other factors,” the company added. The Indonesian facility will be VinFast’s third besides its main one in northern Vietnamese city of Haiphong, and a new plant in North Carolina, slated to start in 2025. VinFast earlier said it plans to also build a plant in Europe. Indonesia, Southeast Asia’s largest economy, has a population of 270 million people. The country has been trying to attract global EV makers including Tesla and China-based BYD, among others. Many sees the country’s abundant supplies of nickel, a key component of EV batteries, as a main factor to attract EV makers from overseas. The EV maker also said in its filing that it plans to create a presence in India, Malaysia, the Middle East, Africa and Latin America, and expand its presence in Europe, as it identified between 40 and 50 potential markets. VinFast aims to set up its own distributors and may open showrooms in those locations, the filing showed. Last month, the startup achieved a Nasdaq listing that valued the loss-making startup at more than $85 billion, higher on its listing day than Ford, VinFast is entering the American market at a time when EV pricing is under pressure, led by market leader Tesla and a range of Chinese companies. Since its establishment in 2017, VinFast has announced numerous ambitious EV growth plans overseas. Last year“I think Southeast Asia is pretty fragmented. You need to look at the different markets differently because [there’s] left-hand drive, right-hand drive, the economy and everything is different,” said Thuy, who is also Vice Chairwoman of VinFast’s parent company, Vingroup. “You cannot generalize Southeast Asia [as a whole]. ”Vietnam’s VinFast to focus on US, European EV markets before expanding in Southeast Asia

https://technode.global/2023/09/13/cradle-fund-bursa-malaysia-collaborate-to-facilitate-listing-of-local-startups-on-malaysia-stock-exchange/

Cradle Fund & Bursa Malaysia collaborate to facilitate listing of local startups on Malaysia stock exchange

Minister of Science, Technology and Innovation Chang Lih Kang has on Thursday (Sep 7) witnessed the exchange of Memorandum of Collaboration (MoC) between Malaysia’s early-stage startup agency The exchange of MoC was symbolised between Cradle Acting Group Chief Executive Officer, Norman Matthieu Vanhaecke and Bursa Malaysia Director of Corporate Strategy, Aina Zahari. The MoC aims at building awareness among startups on funding opportunities available in Malaysia, including those offered by the equity market. Additionally, it seeks to facilitate early identification of companies with the potential for listing on Bursa Malaysia. This collaboration is an integral part of the Ministry Science, Technology and Innovation’s (MOSTI) Fund Funnel program, an initiative designed to streamline funding options and offer comprehensive support to startups throughout their funding journey, from the seed stage to the initial public offering (IPO), according to a statement released by the ministry. The implementation of the Fund Funnel program is also aligned to Intervention Two as outlined in the Malaysia Startup Ecosystem Roadmap (SUPER) 2021- 2030, which emphasises the importance of restructuring the local investment ecosystem in order to enhance efficiency and attract high-quality investments while facilitating access to funding for startups. Highlighting the significance of the collaboration, Chang said “The Fund Funnel addresses the concerns raised by startups regarding the lack of information about government funding opportunities, at the same time, providing clear and concise details about the funding agencies and the specific stages at which they offer financial support. “As we introduce the Fund Funnel program, Malaysia embarks on a transformative journey to fulfil the aspirations outlined in the Malaysia Startup Ecosystem Roadmap. The Fund Funnel program also signifies the Government’s commitment to nurturing startups by providing them with vital access to funding at every stage of their journey, in line with Malaysia MADANI’s aspiration, to build an innovative and high-tech nation,” he said. Acting Group Chief Executive Officer Cradle Norman Matthieu Vanhaecke said the collaboration between Cradle and Bursa Malaysia signifies an ongoing commitment to engage with ecosystem players, fostering transparency in Bursa Malaysia’s listing requirements. “Through this collaboration, we hope to empower startups to develop their comprehensive strategies, ultimately paving the way for a successful listing on the exchange while bridging critical funding gaps within the ecosystem. By strategically aligning resources, expertise and collaboration, we create an enabling environment where startups can thrive, revolutionise industries and drive economic growth,” he added. Under this partnership, Cradle will provide market intelligence of the local startup ecosystem to assist Bursa Malaysia in identifying potential listing candidates. With 20 years of experience in the startup ecosystem, Cradle has engaged with companies across all stages of development and funding, supporting over 1,000 Malaysian technology-based firms and boosting the highest commercialization rate among funding agencies in Malaysia. Bursa Malaysia, for its part, will analyse the data shared by Cradle and work with them to organise programs that focus on funding access. Bursa Malaysia will support Cradle in terms of knowledge sharing and help startups gain a better understanding of how the equity market can contribute to their growth. This is a crucial objective to assist such businesses in planning their future growth and identifying the necessary funding to support their journey from the early stages to eventually becoming a public listed company, the ministry added. Bursa Malaysia Chairman Abdul Wahid Omar said, “This collaboration reflects the Exchange’s intent to assist Cradle in building a thriving startup ecosystem by addressing a pain point commonly faced by local startups, namely in access to funding opportunities. Together with Cradle, we are committed to alleviate this challenge and facilitate Malaysia startups in their funding journey with the goal of accelerating their growth, and enabling them to list right here within their home country. ”“We firmly believe that the outcome of this collaboration will yield positive impact, benefiting the startups, our capital market and the broader Malaysian economy,” added Wahid. Feature photo credit: Cradle FundMalaysia’s Science & Technology Ministry looks into VCs’ suggestions to support tech startup ecosystem

https://technode.global/2023/09/13/malaysias-unicorn-carsome-open-to-new-funding-open-to-dual-listing-report/

Malaysia’s unicorn Carsome open to new funding, open to dual-listing – report

Southeast Asia’s largest car e-commerce platform Cheng said the company is looking for strategic investors whose “businesses are able to add value to what we are doing, be it on car trading, financing or insurance. ” Last year, Carsome has won one of Malaysia’s first batch of digital bank licenses, as part of the consortium led by KAF Investment Bank. Cheng earlier told Carsome is ready for an initial public offering (IPO) but is in no rush to list, Cheng said. “We haven’t really set a right timeline or window,” he told “We need exchanges that appreciate the business that we’re building,” he was quoted as saying. “We need that exchange to be able to also provide enough liquidity. ”Carsome was valued at $1.7 billion in its fund-raising round early last year, when it completed its $290 million Series E round. The financing round then was jointly led by Qatar Investment Authority (QIA), 65 Equity Partners (65EP) and Seatown Private Capital Master Fund (Seatown). The round also saw participation from investors such as Mediatek, Sunway, Gokongwei Group, YTL Group, and Taiwan Mobile. The Malaysia-headquartered unicorn has hit operational profitability in the first quarter of this year and is expected to achieve its first group-wide profit or break-even before year-end, Cheng reportedly said. 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. Founded in 2015, Carsome has expanded into Indonesia, Thailand, Singapore and recently in the Philippines. It works with 20,000 dealers and has an average of 15 million monthly visitors across its platforms, according to its website. In Southeast Asia, Carsome competes with Singapore-based Carro, Indonesia’s OLX Auto and Carousell Auto Group. Carsome is said to be delaying its dual listing plans in Singapore and the US on concerns that deteriorating macroeconomic conditions could dent its valuation, Breakeven is near for Malaysian unicorn Carsome, says CEO Eric Cheng

https://technode.global/2023/09/12/hsbc-malaysia-launches-106-92m-new-economy-fund-providing-lending-to-tech-led-businesses-startups/

HSBC Malaysia launches $106.92M New Economy Fund, providing lending to tech-led businesses & startups

HSBC Malaysia The fund was announced at the bank’s second event focused on developing the startup ecosystem in Malaysia titled, “Accelerating sustainability through the Digital Economy – shaping a long-term future”. According to a statement, the fund will primarily support lending to tech-led businesses and emerging startups from Series B stage and beyond who are tapping opportunities within Malaysia’s growing digital economy. HSBC will continue to offer working capital, treasury management and payments and cash management solutions to meet the needs of these businesses at different stages of their lifecycle. Omar Siddiq, Chief Executive Officer, HSBC Malaysia said, “Malaysia is putting itself at the forefront of ASEAN’s thriving startup ecosystem with an emphasis on developing the country as a hub for high-performing businesses in the region. We are positive on the new economy in South and Southeast Asia and as a Group we are doubling down on our support for new economy players. We have invested $2 billion globally into Commercial Banking to improve our digital capabilities and to develop more solutions to support our clients. ”“We fully expect new economy businesses to play a more significant role in driving Malaysia’s economic growth and prosperity over the coming years. The ‘HSBC New Economy Fund’, which is a first of its kind in Malaysia, is focused on providing these high-growth, innovative companies with access to funding solutions so that they can continue the next stage of their growth”. The development of Malaysia’s startup ecosystem is one of the country’s long-term objectives. The various government initiatives laid out as part of the Madani Framework, the New Industrial Master Plan 2030 and the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030, are a testament to the commitment to bolster the development of startups in the country and places an emphasis on making Malaysia a digitally vibrant nation. This includes providing enhanced funding, digitalisation grants and capacity building programs that will be crucial to elevating the position of Malaysian startups on the global stage. Karel Doshi, Head of Commercial Banking, HSBC Malaysia added, “A key ingredient for tech led businesses and emerging Malaysian startups to scale is the investment to grow. Beyond the incentives provided by the government, for startups to expand and succeed it is crucial to connect them to other parts of the world as well as bring other parts of the world to them – we know Asia very well and have been here for over 150 years”. “The ‘HSBC New Economy Fund’ demonstrates HSBC’s support for the innovation economy in Malaysia and beyond. In addition to being a trusted advisor towards tech led businesses and emerging startups, we have an unrivalled international network and a specially trained team to deal with startups – this places the Bank in a strong position to support emerging entrepreneurs of today who will spur the next generation of tech innovation companies that will be crucial to the development of the new economy landscape in Malaysia. We are also consistently looking for ways to collaborate with government agencies and ecosystem players to support Malaysia’s new economy ecosystem,” added Karel. HSBC, GOBI Partners join hands to support innovative businesses between Hong Kong and ASEAN

https://technode.global/2023/09/11/matrade-mdec-ink-mou-to-enhance-malaysian-tech-companies-global-footprint/

MATRADE, MDEC ink MoU to enhance Malaysian tech companies’ global footprint

Malaysia External Trade Development Corporation (MATRADE)The MoU aims to better facilitate the current and export ready Malaysian tech companies in strengthening their global footprint through more concerted and collaborative trade promotion initiatives, the agencies said in a joint statement on Monday. The MoU was signed by Mohd Mustafa Abdul, CEO of MATRADE and Ts. Mahadhir Aziz, CEO of MDEC. MATRADE’s Senior Board member, Hazimah Zainuddin witnessed the MOU Exchange Ceremony, which took place at the side-line of MATRADE’s International Sourcing Programme (INSP) held in conjunction with Malaysia International Halal Showcase (MIHAS) 2023 today at Menara MATRADE. According to MATRADE’s CEO, Datuk Mohd Mustafa Abdul Aziz, the MoU will result in greater level of collaboration between both agencies, which in turn will accelerate the transformation of local tech champions into global players. This is in line with the objective of the newly launched New Industrial Master Plan (NIMP) 2030, which was recently launched by Malaysia Prime Minister Anwar Ibrahim. “NIMP among others focusses on the government’s mission to get Malaysian businesses to embrace technology and digitalisation to drive innovation, enhance productivity and create new opportunities for economic growth,” Mohd Mustafa pointed out. Under the newly launched New Industrial Master Plan 2030 (NIMP2030), digital and ICT has been identified as one of the five key focus sectors that could help enhance Malaysia’s exports of more complex products and services. As such, he added, there is a need for agencies like MATRADE and MDEC to further streamline our initiatives and embrace a whole nation approach in our promotion abroad. “Under MDEC’s Malaysia Digital (MD) Catalytic Programmes (PEMANGKIN), we promote nine sectors, which we believe can drive high-value digital export and provide a launchpad for tech companies to expand globally. To nurture and facilitate a business-friendly digital ecosystem, we are collaborating with various partners, and one of them is MATRADE”, said Ts. Mahadhir Aziz, Chief Executive Officer of MDEC. MDEC expects high-tech Malaysian companies to generate $55M in digital export

https://technode.global/2023/09/11/gobi-partners-invests-in-malaysias-e-waste-recycling-firm-erth/

Gobi Partners invests in Malaysia’s e-waste recycling firm ERTH

Asian-focused venture capital firm Gobi Partners announced a strategic investment in What sets ERTH apart is its dual-fold approach. The company not only facilitates responsible e-waste disposal but also rewards contributors with cash incentives or vouchers. This approach fosters a community-driven commitment to environmental preservation while providing economic compensation, Gobi Partners said in a statement on Monday. ERTH achieves this by employing a gig-economy workforce of over 1,000 freelancers, referred to as “Heroes”. These Heroes play a pivotal role in collecting obsolete, faulty, and discarded electronics, such as laptops, smartphones, printers, televisions, and various devices, directly from households and businesses. Since 2019, ERTH Heroes have collectively diverted more than 1,000,000 kilograms of e-waste from landfills. To put this into perspective, it is equivalent to 1,053 Perodua Myvi cars or 13 Boeing 737 aeroplanes. As a result, the Malaysian Department of Environment has recognised ERTH as the largest authorised collector of e-waste in Malaysia. Thomas G. Tsao, Co-founder and Chairperson of Gobi Partners said, “Our alignment with ERTH’s expansion strategy demonstrates our dedication to driving transformative change. Through this partnership, we are not just investing in a company; we are contributing to a more sustainable and environmentally-conscious future. ”As a symbolic gesture of this new beginning, Gobi colleagues has also collected their electronic waste, including used mobile phones, batteries, laptops, blenders and even an air conditioning unit which were then handed over to ERTH for proper disposal. This initiative is closely linked to Gobi’s Corporate Social Responsibility program, #GobiCares, addressing both community needs and environmental concerns. Established by the husband and wife team of Mohamed “Mo” Tarek El-Fatatry (Finnish citizen) and Nahed Bedir Eletribi (Egyptian citizen) in 2019, ERTH was born out of a desire to make a meaningful impact, particularly in waste reduction, with a focus on e-waste. What drew the co-founders to Malaysia was the region’s pressing environmental challenge. According to the United Nations University, Southeast Asia faces a staggering e-waste problem, generating a whopping 12.3 million metric tons of e-waste in 2021 alone. This situation has escalated from a concern to an urgent crisis. Improper disposal and recycling of e-waste can lead to severe environmental consequences. When electronic devices are not recycled correctly, hazardous materials like lead, mercury, and cadmium can contaminate soil, water, and air, posing risks to ecosystems and human health. Mohamed “Mo” Tarek remarked, “Finland has consistently ranked among the cleanest countries in the world and I am enthusiastic about applying Finnish best practices here in Malaysia to lead the way in e-waste recycling within Southeast Asia and ultimately work towards making Malaysia the cleanest country in this region. Our partnership with Gobi through the GDIV program is a perfect match, benefiting both our companies and contributing to the improvement of Malaysia’s environmental efforts. ”With this funding, ERTH has joined the ranks of startups supported by the Khazanah Nasional-backed Gobi Dana Impak Ventures Fund (GDIV Fund). GDIV Fund is part of Khazanah’s initiative to bolster the local startup ecosystem, operating within Dana Impak’s Future Malaysia Program. Dana Impak is a key pillar of Khazanah’s Advancing Malaysia strategy, with an MYR6 billion allocation over five years. Within the next 12 months, ERTH’s goal is to open more branches across Malaysia, thus enabling more Heroes to contribute to environmental protection while gaining financial benefits. Gobi Partners onboards Southeast Asia’s largest integrated recommerce platform CompAsia

https://technode.global/2023/09/08/malaysias-science-technology-ministry-looks-into-vcs-suggestions-to-support-tech-startup-ecosystem/

Malaysia’s Science & Technology Ministry looks into VCs’ suggestions to support tech startup ecosystem

The Ministry of Science, Technology and Innovation (MOSTI) in Malaysia is looking into several suggestions from the venture capitalist community to further support the tech ecosystem in the country. The development came after a meeting between Minister Chang Lih Kang and venture capitalists on Thursday. The minister said he had an insightful engagement session with leading venture capitalists to discuss fortifying the VC ecosystem in Malaysia. The meeting, initiated by Malaysia Venture Capital Management Berhad (MAVCAP), aimed to gather practical feedback and recommendations on how public policy can best support the growth and sustainability of local startups. Among the key areas discussed were potential tax incentives, flexible regulations, and creative financing models that could provide a robust framework for startups to thrive, the minister said. “The venture capitalists brought a wealth of experience to the table, highlighting specific gaps and opportunities that could be leveraged for positive impact,” he wrote in a Linkedin post on Friday. “We recognize that a thriving VC ecosystem is essential for the successful commercialization of innovative ideas, and this collaborative meeting represents a significant step forward in this direction. Such cross-sectoral dialogues are invaluable, as they not only foster a constructive exchange of ideas but also contribute to shaping more effective and responsive policies,” he added. The MOSTI team is committed to turning these insights into actionable plans, Chang said. As the saying goes, “It takes a village to raise a child,” and it similarly takes an integrated ecosystem to raise a successful startup, the minister wrote. “Thank you to all the participants for their candid feedback and actionable insights. Your support and contributions make all the difference. Together, we can drive innovation, bolster economic development, and make our nation a hub for entrepreneurial excellence,” Chang added. Earlier in July, Prime Minister Anwar Ibrahim announced that the Malaysia government and government-linked investment companies (GLICs) will invest MYR1 billion ($211.12 million) in additional funds to match private funds in a bid to support local startups and encourage technopreneurs. The initiative, which is one of several under the new economic road map, would include ensuring the provision of funds for each phase of a company’s growth, alongside expanding the implementation of programs such as Corporate Hackathon and MYHackathon, said Anwar Ibrahim in his speech at the launch of the so-called “Ekonomi Madani” plan then. According to the prime minister, Malaysia ranked 20th in the world based on the report of The Global Startup Ecosystem 2023, valuing the Malaysian start-up ecosystem at $46 billion for the first half of 2020 to 2022. It will also allocate an additional MYR100 million ($22.12 million) to intensify research, development, commercialization and innovation, with a focus on industrial needs, such as renewable energy, food security and new growth areas. Feature photo credits: MAVCAP’s Linkedin 500 Global closes $143M across early-stage & growth vehicles for Southeast Asia; ropes in Khazanah, KWAP & EPF as LPs

https://technode.global/2023/09/06/500-global-closes-143m-across-early-stage-growth-vehicles-for-southeast-asia-ropes-in-khazanah-kwap-epf-as-lps/

500 Global closes $143M across early-stage & growth vehicles for Southeast Asia; ropes in Khazanah, KWAP & EPF as LPs

Venture capital firm Limited partners (LPs) across its early-stage and growth investment vehicles include Malaysia’s sovereign wealth fund, public and private pension funds like Khazanah Nasional Bhd, Kumpulan Wang Persaraan (Diperbadankan) [KWAP], and Employees Provident Fund (EPF), 500 Global said in a statement. A university endowment, family offices of prominent global investors, and portfolio companies valued at over $1 billion from 500 Global’s first Southeast Asia early-stage fund have invested as LPs as well.500 SEA III is 500 Global’s third Southeast Asia-focused early-stage fund, with each successive fund having nearly doubled in size since 2014. Originally targeted for $75 million, 500 SEA III closed at $100 million with over half of the fund coming from returning LPs. The early-stage fund will focus on investing in businesses and AI-enabled technologies that advance rural digitalization, sustainable cities, human and machine productivity, healthcare, food security and financial inclusivity. 500 SEA III aims to invest in 100 pre-seed to Series A startups, providing first checks between $250,000 – $500,000 across Malaysia, the Philippines, Vietnam, Thailand, Singapore, and Indonesia. “KWAP’s investment in 500 Global began in the latter’s early days through its second Southeast Asia early-stage fund. 500 Global has since grown considerably in strength to a multi-stage investment platform, and remains instrumental in securing co-investment opportunities for KWAP. ” – Hazman Hilmi Sallahuddin, Chief Investment Officer, KWAP. “We are pleased to continue our partnership with 500 Global, a VC manager with an extensive investment track record globally. In line with Khazanah’s Future Malaysia Program, an initiative under our Dana Impak (Impact Fund) mandate, we are excited about their potential to facilitate the market expansion of start-ups via their Southeast Asia platform, with the anticipation of creating new global champions. ” – Amirul Feisal Wan Zahir, Managing Director, Khazanah Nasional.500 Global’s past Southeast Asia investments have included $5 million – $20 million checks in Series C to D rounds of portfolio companies such as Carousell (2018), Carsome (2021), and most recently eFishery (2023), and has in the past invited their LPs to co-invest alongside them in select opportunities. “While we developed our growth stage capability investing over the years, we have also added resources and new partners in line with our aim to support founders from pre-seed to pre-IPO. ” – Vishal Harnal, Managing Partner, 500 Global. “History shows us that cyclical downturns are typically succeeded by periods of high growth surpassing the preceding cycles. Having been investing in Southeast Asia now for over a decade, we learned a thing or two about supporting outstanding founders and companies to ride the next 10 years, to generate highly competitive returns for our institutional investors and portfolio companies. ” – Khailee Ng, Managing Partner, 500 Global. “We continue to believe in the strong potential and opportunities in Southeast Asia. With a global portfolio of over 2,800 companies across more than 80 countries, we believe that the founders in Southeast Asia will benefit from one of the few truly global venture platforms with deep local roots and in-market expertise. ” – Christine Tsai, CEO & Founding Partner, 500 Global. Over the past decade, 500 Global has backed over 340 companies across Southeast Asia. The firm has invested in companies valued at over $1 billion such as Grab, Bukalapak, Carsome, Carousell, FinAccel, and eFishery.500 Global is a multi-stage VC firm with $2.4 billion in assets under management as of June 30, 2023 that invests in founders building fast-growing technology companies. Its 190+ team members are located in over 25 countries. Ten Filipino startups complete the 917Ventures Accelerator Program by 500 Global

https://technode.global/2023/09/05/vynn-capital-announces-partnership-with-marubeni-malaysia-to-drive-innovation-growth/

Vynn Capital announces partnership with Marubeni Malaysia to drive innovation & growth

Malaysia-headquartered venture capital firm The partnership aimed at fostering innovation, accelerating growth, and unlocking new opportunities in the Malaysian market, Vynn Capital said in statement. The partnership brings together Vynn Capital’s local network in the Southeast Asia region and expertise in identifying and nurturing promising startups and Marubeni Malaysia’s extensive network and deep industry knowledge. This collaboration will create a robust ecosystem to support and empower innovative entrepreneurs, startups, and businesses in Malaysia and beyond, the VC firm added. Key highlights of the partnership include:1. Business Synergy: Vynn Capital’s strong portfolio of investments in various sectors, coupled with Marubeni Malaysia’s vast resources and access to global markets, will enable both companies to strategically invest and collaborate with high-potential businesses and collaborate with local corporations. This synergy will contribute to fostering innovation across multiple industries and facilitate the growth of disruptive technologies.2. Market Access and Expansion: Vynn Capital will support Marubeni Malaysia in accessing local opportunities and exploring potential to scale new business opportunities and operations locally and regionally.3. Collaborative Innovation: By joining forces, Vynn Capital and Marubeni Malaysia will actively explore and invest in cutting-edge technologies and business models. This collaboration will drive the development and implementation of innovative solutions, promoting sustainable economic growth in Malaysia. Some of the areas identified are mobility, electrification and sustainability themed opportunities. Victor Chua, Founder and Managing Partner of Vynn Capital, expressed his excitement about the partnership, stating, “We are thrilled to collaborate with Marubeni Malaysia to drive innovation and contribute to the growth of Malaysia’s business ecosystem. Our combined strengths and expertise will create a positive impact on the economic landscape, allowing better integration between Japanese and Malaysian business communities and solve real-world challenges. ”Takeshi Fujiwara, Representative of Marubeni Malaysia, shared his thoughts on the partnership, saying, “We are thrilled to collaborate with Vynn Capital, with their strong portfolio of investments in various sectors, in exploring new business opportunities and operations locally and regionally to contribute to the growth to Marubeni’s business ecosystem. We believe that the collaboration will commence our contributions through National Energy Transition Roadmap (NETR) in Malaysia and accelerate Marubeni Corporation’s businesses. ”Marubeni Malaysia conducts business in Malaysia in a wide range of areas including forest products, chemicals, machinery products, energy, metals , infrastructure projects and mobility, healthcare. Vynn Capital is an early-stage venture capital firm founded with the objective of bridging the gap between traditional industries and the new economies through the development of technology. The team is made up of professionals with experience across early stage invest to late stage financing, with experience in business operations. The investment philosophy revolves around the creation of synergistic value between partners and companies supported by Vynn. Beyond investing, Vynn Capital assists its investors or Limited Partners in understanding new industries and markets with its localised team and network across the major cities of Southeast Asia. Sime Darby, AEI Capital become limited partners in Vynn Capital’s $30M fund

https://technode.global/2023/09/01/malaysias-solarvest-partners-centexs-huawei-greenbay-to-launch-hyperscale-green-data-center-testbed-and-training-program/

Malaysia’s Solarvest partners Centexs, Huawei, Greenbay to launch hyperscale green data center testbed and training program

Solarvest Borneo Sdn Bhd (Solarvest Borneo), a subsidiary of Malaysia-based clean energy firmSolarvest said in a statement on Friday that it has entered into a Memorandum of Understanding (MOU) with Centre for Technology Excellence Sarawak (CENTEXS), Huawei Technologies (Malaysia) Sdn Bhd (Huawei Malaysia), and GreenBay CES Sdn Bhd (GreenBay). According to the statement, this collaboration marks a significant leap toward fostering the hyperscale green data center industry in the Borneo region. This partnership, which brings together each parties’ respective skills and areas of specialization, aims to establish a hyperscale green data center testbed and training program in Sarawak, thereby spurring research and development collaboration and intellectual property creation in clean energy solutions. Solarvest Borneo will contribute its expertise in green energy and energy efficiency solutions, CENTEXS will provide a dedicated testbed area for practical data center operations training, while Huawei Malaysia will leverage on its technological knowhow in cloud computing, enterprise intelligence, renewable energy and data centers to support the training needs of the program. Complementing these efforts, GreenBay will lend its expertise in constructing future-proofed data centers in a cost-efficient manner. Under this collaboration, the four parties aim to promote environmental responsibility by establishing hyperscale data centers that reduce carbon footprint and optimize resource utilization. Ultimately, this initiative aims to enhance the sustainability, reliability and efficiency of data services. “Given the Malaysian government’s focus on data centers within the digital ecosystem development, our green data center testbed and training program are poised to set the benchmark for environmentally responsible hyperscale data centers,” said Leon Liew Chee Ing, Director of Solarvest Borneo. “Leveraging on Solarvest’s expertise in green energy and energy efficiency solutions, we are positioned to play a pivotal role in creating environmentally conscious and energy-efficient data centers,“Our strategy incorporates renewable energy sources, cutting-edge cooling methods, and efficient server designs, all contributing to a substantial reduction in energy consumption and emissions,” he added. Meanwhile, CENTEXS Chief Executive Officer of CENTEXS Syeed Mohd Hussien Wan Abdul Rahman highlighted the firm is delighted to offer a learning arena dedicated to nurturingAccording to him, the data center testbed provides valuable hands-on exposure for students, professionals, and researchers eager to delve into the intricacies of data center operations, management, and maintenance. “Within this controlled environment, participants can acquire insights into data center management spanning server deployment, cooling strategies, energy monitoring, andHuawei Malaysia Digital Power Business Unit Vice President Chong Chern Peng said that Huawei Malaysia is excited to collaborate in this venture with a focus on the sustainable, simplified, and reliable characteristics within the domain of data centers. “As environmental awareness grows, the adoption of green practices to mitigate the ecological impact of data centers is increasing,“This partnership aims to jointly explore and develop prospects in cloud computing, enterprise intelligence, renewable energy, and data centers,” he said. According to him, Huawei Malaysia is dedicated to enhancing Malaysia’s clean energy ecosystem through its digital and sustainable green technology solutions. “Leveraging our extensive expertise as a leading global information and communications technology (ICT) solutions provider, we are committed to addressing market needs and nurturing local talent in solar and battery technologies,“We are delighted to join forces with the Sarawak Government to further their clean energy aspirations,” he added. GreenBay Director Nic Chong Lin Kong said that being a forward thinking leader in constructing future-proofed data centers and sustainable energy facilities, the firm provides a comprehensive array of services and solutions, from inception to maintenance, with a primary focus on enhancing total cost efficiency. In response to the escalating data generation, he said the significance of hyperscale data centers become imperative to accommodate the expanding storage and processing requirements. Designed to manage enormous data volumes, he said hyperscale data centers effectively cater to the escalating demands of cloud computing, internet of things (IoT), artificial intelligence (AI), and big data analytics. “This scale advantage fosters economies of scale, driving down costs per computation and storage unit. The incorporation of multiple redundancies and failover mechanisms ensures unparalleled availability and reliability, subsequently reducing instances of downtime,“Remarkably, hyperscale centers are capable of real-time processing of vast data quantities, facilitating advanced analytics and insights,” he added. According to the statement, the collaboration resonates with Solarvest’s five-year strategic roadmap to emerge as a regenerative clean energy expert. The comprehensive partnership among CENTEXS, Huawei Malaysia, Solarvest Borneo, and Greenbay reflects a united commitment to advancing the field of hyperscale green data centers, where sustainability and innovation converge. Malaysian clean energy firm Solarvest embarks strategic initiatives to expand into Singapore and Brunei

https://technode.global/2023/09/01/uob-malaysia-launches-financing-solution-for-electric-vehicle-ecosystem/

UOB Malaysia launches financing solution for electric vehicle ecosystem

Banking group The solution seamlessly connects the EV value chain, including automotive component suppliers, automotive brand owners, dealers, and charging point operators to end-users, UOB Malaysia said in a statement on Tuesday. According to the statement, U-Drive is designed to meet the financial needs of all EV ecosystem players by providing a comprehensive range of sustainable financing solutions. For example, automotive brand owners expanding into new markets, car dealers planning to expand their EV inventory and charging point operators procuring and installing charging infrastructure can tap into UOB’s green facilities for their working capital needs. Additionally, businesses, including fleet owners and individuals, can access green financing to purchase EVs and charging equipment. Beyond financing, UOB can also support EV original equipment manufacturers (OEMs) seeking to expand into the country by providing market insights and foreign direct investment advisory. “Malaysia’s pathway to net zero will require a decarbonized transport system and the reimagining of the entire value chain to become green and sustainable,” said Ng Wei Wei, Chief Executive Officer of UOB Malaysia. “UOB is proud to bring U-Drive to the market to support the development of the EV industry in Malaysia,“By simplifying access to financing for EV ecosystem players and connecting those in need of capital, we aim to power the growth of the industry and encourage the switch to EVs,” she said. According to the statement, UOB Malaysia is pioneering U-Drive with a few key EV players in the country. They include Great Wall Motor (Malaysia) a Chinese auto manufacturer; Sime Darby Motors, a Malaysian automotive group, Perak Transit, an integrated public transportation service provider, as well as chargEV by Yinson GreenTech and PowerBee, an e-mobility arm by Solarvest, who are players leading the charging infrastructure network. “We strongly believe that Malaysia can be a vibrant EV marketplace given its diverse mobility landscape, focus on sustainability, and proven leadership as an electrical and electronics (E&E) manufacturing hub in Southeast Asia for the past 50 years,” Ng added. While the local EV industry has made good progress in recent years, she said it is still far from realizing its full potential. “Nonetheless, it is encouraging to note the strong collective effort from the government, industry associations and key players in the EV value chain, pushing to accelerate the development and adoption of green mobility in Malaysia,” she said. According to the statement, U-Drive is part of UOB’s suite of sustainable financing solutions under the UOB Smart City Sustainable Finance Framework. Aligned with the United Nations Sustainable Development Goals, the bank’s sustainable financing frameworks enable companies to apply for green or sustainability-linked banking products without having to develop their own financing frameworks. Sunway and UOB Malaysia ink partnership to advance net zero goal

https://technode.global/2023/08/30/malaysias-iprice-launches-price-comparison-platform-in-australia/

Malaysia’s iPrice launches price comparison platform in Australia

IPrice GroupIPrice said in a statement on Wednesday that the firm is now able to provide Australian consumers with the same proprietary online shopping experience it’s been offering Asian shoppers for the past eight years. With its unmatched capability to process and curate a massive 8 billion offers daily, it said iprice. au is well-positioned to establish itself as a key player in the Australia e-commerce landscape. With the launch of iPrice. au, it said iPrice stands apart in the Australian market with its unique ability to compare and curate offers at the same scale that has led to their dominance across Southeast Asia (SEA), a region where they continue to help over 130 million shoppers eachAs more and more Australian retailers launch their own websites and begin operating their own marketplaces, iPrice opined that the ecommerce landscape in Australia is becoming increasingly fragmented. With the launch of iPrice. au, iPrice is responding to a growing demand to streamline the shopping experience for Australian consumers by offering a more effective way to save money shopping online. “As inflationary pressures make shoppers more cautious about spending, we are pleased to provide the convenience of Southeast Asia’s largest price comparison platform to Australia, to help Australians get more bang for their buck when shopping online,” said Karl Loo, Senior Vice President Business Development and Internationalization for iPrice. According to the statement, the new iprice. au website builds on past successes with a blended approach, adding human curation on top of its proven technology platform. With large teams of category experts constantly reviewing the catalogue, they are able to quickly intervene where offers might be too-good-to-be-true. This human touch is missing in other tools, and ensures Price users don’t just see the cheapest price, they see the the best offers available at the time of their search. Backed by detailed market research to understand the unique needs and preferences of Australian consumers, iPrice aims to provide a tailored shopping experience, positioning the website as not just a tool, but a real shopping companion. The Australian launch of iPrice. au also marks the first significant expansion beyond Southeast Asia, setting the stage for future growth in the region. “Our mission has always been to help consumers save money, it’s great to see how our technology developed for hundreds of millions consumers in SEA has the potential to carry forward to new markets like Australia,” said Heinrich Wendel, Co-Founder and newly appointed Chief Executive Officer of iPrice. IPrice Group is an online shopping companion, serving more than 125 million unique users across eight countries namely Malaysia, Singapore, Indonesia, Thailand, Philippines, Vietnam, Hong Kong and Australia. With a mission to “Help People Save Money”, the firm aids shoppers by comparing prices, promotions and seller discounts across its vast catalogue of 8 billion offers from thousands of sellers and merchants. Indonesia’s Bukalapak acquires majority stake in Malaysian price comparison platform iPrice

https://technode.global/2023/08/30/funding-societies-partners-pekema-to-bolster-malaysian-automotive-industry-via-digital-financing/

Funding Societies partners PEKEMA to bolster Malaysian automotive industry via digital financing

Funding SocietiesThe collaborative agreement, formalized through this partnership, is geared towards extending financial support to PEKEMA members, encompassing vehicle dealers from allThis undertaking echoes PEKEMA’unwavering commitment to“One pivotal aspect of this accord is the enhanced financial support it affords to PEKEMA members, streamlining their acquisition of vehicle stock for ‘floor stocking’ purposes,” said Mohamed Nazari Noordin, Acting President of PEKEMA. He further emphasized the importance of this initiative in ensuring smooth business operations and effective fulfilment of customer demands. According to him, PEKEMA is set to collaborate with both conventional and non-conventional financial institutions to maximize the breadth of the financing ecosystem. “This innovative approach is poised to invigorate automotive industry sales and provide members with the latitude to explore diverse financing models, aligning with prevailing market trends and requisites, “The essence of this collaboration with Funding Societies harmonizes with PEKEMA's mission to fortify Malaysia’s automotive sector amid global transformation, leveraging technology and dynamic partnerships,” he added. In the preceding year, PEKEMA made significant contributions, importing over 46,000 vehicles and retailing approximately 37,000 units, constituting a commendable 5.2 percent of the vehicle industry’s total production (TIV). In the backdrop of Malaysia’s steady economic growth and the introduction of novel vehicle models, the TIV for the current year is projected to reach an impressive 725,000 units. With an extensive network comprising more than 340 distributors and 400 warehouses and showrooms throughout the nation, PEKEMA said the firm is well-positioned to continue its pivotal role in the automotive domain. Simultaneously, Chai Kien Poon, Country Head of Funding Societies Malaysia, expressed enthusiasm about the collaboration’s potential to introduce a groundbreakingThis financing mechanism empowers AP holders to broaden their vehicle stock, mitigate cash flow constraints, and facilitate business expansion. “Through synergizing Funding Societies’ acumen in SME digital financing with PEKEMA’s expansive network, we are confident in our ability to positively impact vehicle dealers aiming for nationwide expansion, “This aligns with our objective to bridge the SME financing gap and fuel economic growth,” Chai added. According to the statement, the automotive sector in Malaysia contributed a substantial MYR 64.5 billion ($13.9 billion) to the gross domestic product (GDP) in the preceding year, driven by post-pandemic demand rebound, and the figure is projected to rise to MYR 104.2 billion ($22.46 billion) by 2030. Despite this growth, the two parties opined that certain industry segments continue to face challenges, especially with financing access. Thus, they said the collaboration between PEKEMA and Funding Societies aims to address these issues by offering tailored financing solutions that meet the needs of emerging vehicle dealers. Chai added that this customized financing program, in collaboration with PEKEMA, offers a range of advantages for AP holders – lower financing cost, higher financing limit, credit period up to 120 days, and streamlined application process. “AP holders that meet the following criteria – private and public limited companies, with at least 30 percent Malaysian ownership, a minimum of one year in active business operation, and no pending legal actions or litigation – can apply for the financing,” he said. 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. The firm 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. Established over forty years ago, PEKEMA is serving as a collective hub for importers of new and refurbished cars and motorcycles from esteemed suppliers in developed nations like Japan and the United Kingdom for Malaysian automakers. With a legacy spanning four decades, the organization has nurtured an extensive network encompassing more than 340 members across the nation. Headquartered in the technological nucleus of Cyberjaya, Selangor, PEKEMA’s expansive presence is fortified by almostThe organization commands a five percent market share of the total passenger vehicle sales industry. Funding Societies partners CGC Digital to support MSMEs via digital supply chain financing guarantee

https://technode.global/2023/08/30/ant-partners-paynet-to-promote-payment-for-inbound-and-outbound-malaysian-travellers/

Ant partners PayNet to promote payment for inbound and outbound Malaysian travellers

Chinese FinTech firm The duo said in a statement on Tuesday that they have signed a memorandum of understanding (MOU) recently to allow more Asian travelers to Malaysia to enjoy a seamless digital payment experience at over 1.8 million merchants across the country. The partnership also allowed Malaysian residents to be able to pay with e-wallets of their home country abroad. By the end of this year, users of five leading Asian e wallets, including AlipayHK (Hong Kong SAR), GCash (Philippines), Kakao Pay (South Korea) and TrueMoney (Thailand), will be able to use cashless payments when they travel to Malaysia with Alipay+, the global cross-border digital payments and marketing solutions operated by Ant Group, by scanning DuitNow QR. More e-wallets are expected to join in the coming months. DuitNow QR is Malaysia’s National QR Standard operated by PayNet that allows merchants to accept real-time payments from customers of different participating banks and e-wallet operators using a unified QR code. According to the statement, the partnership will enable all Malaysian e-wallets supported by PayNet to be accepted by Alipay+ merchants network globally in 2024. Beyond payments, Ant Group and PayNet will also collaborate on joint digital marketing efforts to enhance visibility of businesses directly within the users’ e-wallets. “This partnership between PayNet and Alipay+ is forged at a vital time when overseas travel and tourism have fully resumed, and rapidly increasing,” said Gary Yeoh,Chief Commercial Officer of PayNet. According to him, consumers and merchants in both countries who are already accustomed to digital payments expect the same seamless and hassle-free experience when travelling overseas. He said they also expect this to be conducted at competitive exchange rates. Thus, he sees this collaboration to address both these needs. “Since Malaysia has long been a favorite and popular destination with Asian tourists, and vice-versa, this collaboration will likely result in higher trade growth between the two nations,“We do see the proliferation of seamless international payments at scale sooner than we think. It is just a matter of time,” he added. The collaboration comes amidst travel recovery to Malaysia, with 4.5 million tourist arrivals in the first quarter of 2023, with most coming from ASEAN countries. Malaysia is expected to achieve its target of 16.1 million tourist arrivals in 2023 and generate more than 49 billion ringgit ($10.56 billion) in tourism revenue. As travel rebounds, both parties reckoned that it is vital for businesses to adapt to new digital habits, particularly the acceptance of localized digital payment options like e-wallets, which has become the norm for day-to-day transactions. They noted that Southeast Asian users will continue to drive the use of QR code payments, which is expected to grow 590 percent by 2028, and other Asian countries like South Korea will also see accelerated adoption. “Alipay+’s collaboration with PayNet is a significant development for regional travellers, “We are jointly making efforts to bring local businesses and international visitors closer together, offering not just convenience to tourists but greater opportunities and visibility for Malaysian businesses,” said Dr Cherry Huang, General Manager of Alipay+ Offline Merchant Services, Ant. According to him, travelers today have greater expectations when they travel, particularly the use of digital solutions to enhance their experience. “They want it to be simpler, with less complexity and less hassle, and in working with our local partners, this is exactly what we want to achieve – personalized, seamless and borderless experiences,” he said. Alipay+ is a suite of global cross-border digital payments and marketing solutions designed to enable businesses, especially small and medium-sized businesses, to process a wide range of mobile payment methods and reach more than 1 billion regional and global consumers, through one-time integration and simple technical adaption. In addition to Malaysia, Alipay+ is also widely accepted in destinations including the Chinese mainland, Macao SAR, Singapore, Thailand, Japan and South Korea among others. As for PayNet, this would be yet another successful cross-border collaboration after Thailand, Indonesia, and Singapore. These interlinkages connect a sizeable portion of digital payments customers in ASEAN, which is one of the most active digital payments markets in the world. Ant is a firm aims to create the infrastructure and platform to support the digital transformation of the service industry. The firm is the owner and operator of Alipay, the leading digital payment platform in China serving hundreds of millions of users, and connecting them with merchants and partner financial institutions that offer inclusive financial services and digital daily life services such as food delivery, transport, entertainment, and healthcare. PayNet is a payments network and central financial infrastructure for Malaysia with the vision to empower Malaysia’s digital economy. Its extensive retail payments suite, DuitNow (QR and P2P), JomPAY (Bill Payments), FPX (Online), MyDebit (Domestic Debit), MEPS (ATM), and IBG (Interbank GIRO) has near ubiquitous coverage across the nation and is part of the daily fabric of life in Malaysia. Ant Group expands Alipay+ coverage to all 7-Eleven stores in Malaysia

https://technode.global/2023/08/28/malaysia-based-coworking-space-worq-uoas-newest-partnership-reaches-70-occupancy-rate-pre-launch/

Malaysia-based coworking space WORQ & UOA’s newest partnership reaches 70% occupancy rate pre-launch

Editor’s note: Malaysia’s coworking and flex space provider This 15,000-square-foot coworking space will serve as a growth hub for global tech startups while also giving the local and international community access to a vast business network and robust infrastructure. Since 2017, WORQ said it has fostered over 266 startups and 122 tech companies, emerging as the leading coworking space in Malaysia. This collaboration with UOA also demonstrates a commitment to position Malaysia as the premier digital hub within the ASEAN region. Aligned with Malaysia Digital Economy Corporation’s (MDEC) Malaysia Digital (MD) initiatives and PEMANGKIN programs, WORQ hopes to drive the growth of Malaysia’s digital economy, the company said in a statement. Private equity firm Chairman and Founding Partner Nazir Razak, who officiated the launch of the outlet further shared, “This is a significant step towards fostering innovation and collaboration in Malaysia’s dynamic business landscape. Coworking spaces are now hubs of technological innovation that serve as a launching pad for numerous aspiring startups. “The growing digital economy in Malaysia is the result of a number of factors, which also make Malaysia a more desirable location for tech and digital companies looking to expand their presence in the ASEAN region. WORQ’s new 15,000 square foot hub not only exemplifies the brand’s commitment to supporting startups and businesses but also reinforces its role in advancing Malaysia’s stature as a leading digital hub within ASEAN,” he said, adding that he was highly impressed by the company’s performance. At present, foreign companies building teams in Malaysia make up about 50 percent of WORQ’s clientele. WORQ is helping to accelerate Malaysia’s startup ecosystem & digital economy Global venture capital firm Antler, which recently extended its international footprint into Malaysia through a partnership with the sovereign wealth fund of Malaysia, Khazanah, is setting up the headquarters of Antler Malaysia at WORD Bangsar. “We’re thrilled to establish the headquarters of Antler Malaysia at WORQ Bangsar in Kuala Lumpur. Our vision is to fuel the growth of more than 30 innovative startups throughout Malaysia within the next three years. Through our partnership with WORQ, as the official ecosystem enabler and becoming one of their Talent Development and Funding Partners under the Malaysia Digital Hub (MDH) initiative, we are able to extend the reach of our residency to support the growth of startups,” shared Frank Kang, Associate Partner for Malaysia, Antler. Antler has offices in 26 cities across six continents, including Austin, New York, London, Berlin, Stockholm, Bangalore, Jakarta, Singapore, Seoul, Tokyo, and Sydney. In line with the Malaysian Startup Ecosystem Roadmap (SUPER), WORQ said it continues to support the progress and development of startups at every stage, from inception to globalization. The brand aspires to create business-ready hubs that go beyond providing just workspaces but also offering a range of business support and technology solutions to cater to the needs of startups and entrepreneurs. “Cradle acknowledges WORQ’s impact on the Malaysian startup ecosystem, and we see our investment in this establishment go beyond a financial transaction as it signifies an opportunity to create a direct spillover effect in the startup ecosystem and, by extension, the broader Malaysian economy. Our vision is clear to cultivate a flourishing startup landscape that not only revolutionizes industries but also creates a ripple effect of job creation, economic growth, and technological advancement,” said Norman Matthieu Vanhaecke, Acting Group CEO of Cradle Fund Sdn Bhd (Cradle). Aligning with the government’s MyDIGITAL initiative to attract new investments worth MYR70 billion in the digital sector from within and outside the country, industry players are thriving in their digital transformation journey. WORQ aims to enable over 10,000 workers in Malaysia as this is part of the company’s immediate plans to expand its total space under management to 450,000 square feet by 2025, the company added. WORQ’s investors include Cradle Fund, Philip Capital, SMG, 500 Global through its subsidiary 500 Durians LLC, among others, its Linkedin profile showed. Malaysia’s WORQ partners DE Rantau to bring high-value jobs to Malaysia worth over $79M

https://technode.global/2023/08/24/beyond-tonight-comes-to-kl-again-to-promote-asias-largest-tech-expo/

BEYOND Tonight comes to KL again to promote Asia’s largest tech expo

BEYOND ExpoDistinguished attendees of the event encompassed a diverse spectrum, including investors, prominent figures from the tech ecosystem, representatives from government agencies, venture capital firms, corporations, family offices, startups, as well as notable presences including Khazanah Nasional Bhd, Malaysia Venture Capital Management (MAVCAP), Sunway Group, Maxis Bhd, Gobi Partners, Kairous Capital, Antler, Artem Ventures, Malaysia Digital Economy Corporation (MDEC), Cradle Fund, TusStar, Leong Hup International, Asia School of Business, among others. During the networking event,Ho presented an insightful overview of the standout features of BEYOND Expo 2023, shedding light on the forthcoming prospects for the upcoming 2024 edition. He also shared valuable insights into the promising opportunities within Macao, Hengqin Guangdong-Macao Deep Cooperation Zone and the Greater Bay Area. The networking session also served as an engaging platform for fostering connections and knowledge exchange, further enhancing the collaborative spirit within the tech and innovation landscape. BEYOND Expo 2024 will be held from May 23 to 25, 2024 in Macao. The expo next yearwill continue to focus on the three sub-brands: BEYOND Healthcare, BEYOND Sustainability, and BEYOND ConsumerTech. BEYOND Expo 2023 opens in Macao, redefining technology

https://technode.global/2023/08/23/technode-global-rebrands-as-tnglobal-strengthens-malaysia-tech-ecosystem-connections-with-kl-office/

TechNode Global Rebrands as TNGlobal, Strengthens Malaysia Tech Ecosystem Connections With KL Office

KUALA LUMPUR, August 22, 2023As part of this bold and ambitious move, “Further enriching the innovation landscape, TNGlobalKeynote and Guest Speakers:TNGlobal (

https://technode.global/2023/08/18/tng-digital-partners-amanah-saham-nasional-to-provide-malaysians-easy-investment-through-touch-n-go-ewallet/

TNG Digital partners Amanah Saham Nasional to provide Malaysians easy investment through Touch ‘n Go eWallet

Malaysian payment firm This partnership enables Malaysians to subscribe to all 17 ASNB unit trusts through the GOinvest feature in the eWallet, TNGD said in a statement on Wednesday. According to the statement, these will complement the nine unit trusts that are currently available on GOinvest. Existing ASNB unitholders can now invest conveniently in ASNB unit trust through GOinvest from the comfort of their own homes, without the need to physically visit a branch or agent. Users can also check their portfolio performance, and make new investments anytime, anywhere. New users are also encouraged to access their ASNB account through the eWallet for hassle-free investing once they have completed the easy online registration via the MyASNB app. “The introduction of ASNB to our growing financial services portfolio aligns with our commitment towards digital inclusion and making financial investment accessible for everyone,” said Alan Ni, Chief Executive Officer of TNGD. With a relatively low risk and long-term investment instrument, he said the firm’s users can save and invest with a consistent and competitive return on investment through ASNB. With an incredibly low minimum initial investment of just MYR 10 ($2.15), he said over 12 million ASNB unit holders can now effortlessly invest through GOInvest in the Touch ‘n Go eWallet. This innovative partnership further diversifies GOinvest’s offerings to a total of 26 unit trusts that caters to different risk appetites, while making online investments convenient and affordable for the masses. ”Meanwhile, ASNB Chief Executive Officer and Executive Director Muzzaffar Othman said that the firm aims to position itself as the advisor of choice, while simultaneously democratizing financial advice by making it accessible to all. “This has led to the implementation of pivotal initiatives within our advisory, products, and channels, driving our transformation journey, “We are committed to this mission as we seek to maximize all available channels to provide fast and convenient service to deliver a better overall user experience,” he said. It is noted that the ASNB unit trusts are available for all Malaysians and categorized into two types of funds: Fixed Price Funds and Variable Price Funds. ASNB Account opening can be initiated as early as newborn age through ASNB Kiosk or over the counter at any ASNB and Agents branches. Additionally, for investors aged 18 years and above, the account can also be conveniently opened online via the myASNB app. “As Malaysians’ preferred eWallet for daily transactions, we are committed to continuous innovation that will redefine banking, whilst providing seamless, safe, and reliable financial solutions that are tailored to meet the evolving needs of our users, “Evident through strong partnerships such as this with ASNB, we are progressively building a suite of financial products and services, which include investments, insurance, lending, and payment solutions, that will add value and provide financial empowerment to our users,” added Ni. Muzzaffar also added that this partnership provides the opportunity for financial inclusion and empowers individuals from all walks of life to secure their financial futures. “This is also part of our mandate to ensure that every Malaysian has access to affordable and sustainable investment opportunities, “Together, we will redefine convenience, accessibility, and financial empowerment. Our commitment to excellence, integrity, and innovation will drive us forward on this exciting path,” he said. TNGD was founded by Touch ‘n Go Sdn Bhd and Ant Group (Ant), parent company of Alipay, China’s largest digital payments platform. Established in 2017, TNGD is the owner and operator of Malaysia’s e wallet Touch ‘n Go eWallet which has more than 21 million registered users and over 1.7 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 offers complete payment coverage for on-street parking in Kuala Lumpur and Selangor

https://technode.global/2023/08/17/insurtech-ouch-enters-market-as-the-first-digital-takaful-operator-in-malaysia/

Insurtech Ouch! enters market as the first digital Takaful operator in Malaysia

Malaysia-based insurtech platform The plan marks Ouch!’s formal entry into the takaful market as the first digital Takaful operator in Bank Negara Malaysia’s regulatory Sandbox, Ouch! said in a statement on Wednesday. According to the statement, Pusara Pro is a simple term life product that provides participants with a death benefit of up to MYR 500,000 ($107,469) and an additional compassionate benefit of 10 percent of the total sum assured. It is noted that Pusara Pro’s 24-hour compassionate benefit claims payout is a record first in Malaysia across both conventional and takaful markets. All claims can be made and tracked directly through the Ouch! mobile app, further simplifying the claims process. “As an insurtech platform looking to shake up the insurance or takaful space, we are determined to eliminate one of the industry’s greatest hurdles: the claims experience and processing times,“The swift 24-hour turnaround for compassionate claims is our commitment to our participants so that we can help provide crucial financial support for families during the incredibly challenging, immediate aftermath of losing a loved one,” said Shazy Noorazman, Chief Executive Officer of Ouch!. Cited the Malaysian Takaful Association’s annual report, he said the takaful industry experienced an 18.3 percent increase in gross contributions in 2022 compared to the year before. Thus, he sees the launch of Pusara Pro to drive the takaful growth further and reach a wider group of audience. According to the statement, through leveraging technology and eliminating middleman costs, the team is able to maintain an estimated 20 percent lower contribution rate than the market average – hence positioning Pusara Pro as a cost-effective option for young Malaysians, especially those who are just starting out with basic life protection. Doing away with complexities and jargon, the plan also simplifies the process of getting insured with a hassle-free application process that only consists of four health underwriting questions. “We stand by the motto that takaful/insurance shouldn’t have to be complicated or expensive. Keeping young Malaysians in mind — many of whom are just starting out in their careers and have likely never purchased takaful/insurance before — our utmost priority is keeping things straightforward and pocket-friendly,“As the first of our in-house products, Pusara Pro is a fresh step forward in our journey to make takaful accessible to every Malaysian,” Shazy Noorazman added. Pusara Pro is an all-digital product that can be directly purchased, viewed, and serviced in the palm of users’ hands, via the Ouch! mobile app. Besides policy management, the app also looks to be an educational takaful/insurance tool for younger Malaysians, with reward features for staying healthy, a coverage calculator to help identify best-fit strategies for its users, as well as a referral program for all participants to earn rewards. Ouch! is a homegrown digital Takaful operator in Bank Negara Malaysia’s Regulatory Sandbox that ultimately aims to make takaful/insurance more accessible for all Malaysians. As a one-stop takaful/insurance platform, the firm helps users learn more about their coverage options and risks, purchase or manage digital products, and make claims — entirely through the app. Carsome partners PolicyStreet to introduce personal accident coverage in Malaysia

https://technode.global/2023/08/16/malaysias-uem-acquires-majority-shares-in-sustainable-energy-solutions-company-cenergi/

Malaysia’s UEM acquires majority shares in Sustainable energy solutions company Cenergi

Malaysian engineering-based infrastructure and services company UEM Group said in a statement on Wednesday that Cenergi is now a subsidiary of UEM Group. “Cenergi has a commendable track record with projects and presence across the country, “We see immense potential in this company and are committed to nurture as well as provide the necessary expertise, operational and financial support that will enhance Cenergi’s operational capabilities, secure more projects and usher in a new era of growth,” UEM Group Managing Director Mohd Izani Ghani said. According to him, Cenergi is a key asset of UEM Group and the firm’s goal is to ultimately position Cenergi as a green domestic champion to contribute significantly to Malaysia’s sustainable future. He also said renewable energy is one of the key sectors and immediate priority of UEM Lestra Berhad (UEM Lestra), the green industries arm and wholly-owned subsidiary of UEM Group. “This is due to the sector’s strong market attractiveness and high importance to Malaysia’s decarbonization agenda,“Cenergi’s extensive experience and capabilities in this sector makes them a valuable addition to UEM Group and UEM Lestra specifically,” he said. He also noted that Cenergi’s inclusion in UEM Group of companies will further promote strategic complementarity amongst its subsidiaries across different core businesses. “By leveraging on the expertise and strengths of each of our subsidiary, we will be able to create synergistic business opportunities for UEM Group as whole,” he added. Incorporated in 2008, Cenergi specializes in reducing carbon footprint through investment in renewable energy specifically biogas, biomass and solar as well as energy efficiency projects. The firm is Malaysia’s largest grid-connected palm oil mill effluent (POME) biogas player. It has a portfolio of 23 biogas power plants in Malaysia and Indonesia, with a total generation capacity of 39.6 megawatt (MW). It also has 20 solar projects across Malaysia, consisting of both solar farms and rooftop solar, with a cumulative capacity of over 37.6 megawatt peak (MWp). At present, Cenergi has in the pipeline biogas, rooftop solar and solar farm projects that are under construction and development in Malaysia. In addition, its subsidiary, Cenergi EE Holdings Sdn. Bhd. was recently allotted with a 29.99MWac quota under Energy Commission’s Corporate Green Power Programme (CGPP). From August 2012 to May 2023, Cenergi via its various operating assets and investments have avoided over 2.4 million tons of carbon emissions, which translate into removing approximately 547,762 passenger vehicles from the road or powering 310,234 homes for a year. UEM partners local, foreign investors to develop hybrid solar photovoltaic power plant in Malaysia

https://technode.global/2023/08/16/thailands-truemoney-facilitates-staff-benefits-for-charoen-pokphand-c-p-group-and-lotuss-in-malaysia/

Thailand’s TrueMoney facilitates staff benefits for Charoen Pokphand (C.P.) Group and Lotus’s in Malaysia

TrueMoneyStarting from May, Lotus’s staff can enjoy the convenience of facilitated offers and benefits from TrueMoney, while C. P. Group staff will receive these benefits beginning in August, TrueMoney said in a statement on Wednesday. According to the statement, TrueMoney Malaysia aspires to establish more staff benefit arm partnerships with prominent corporations in the coming years. In these potential collaborations, corporations will have the opportunity to extend exclusive staff discounts for purchases made at Lotus’s stores or any of the existing TrueMoney e-wallet merchants. Moreover, TrueMoney plans to introduce curated marketing campaigns, including staff referral programs, exciting lucky draws, engaging roadshows, and other innovative initiatives. “Through our e-wallet, C. P. Group and Lotus staffs will have access to a wide range of businesses, as well as amazing promotions, cashback and benefits to reward them,” said Jessie Chong, Ascend Group’s Country Managing Director. According to her, this is an innovative and practical way to extend employee benefits that is both easy and encourages adoption. “We hope that through this facilitation, staff can enjoy a seamless and secure cashless payment journey with the TrueMoney e-wallet whenever they spend at Lotus’s or any of our participating merchants,” she added. TrueMoney is a regional fintech company in Southeast Asia, under Ascend Money, a joint venture between The Charoen Pokphand Group (C. P. Group) and Ant Financial (Alibaba),Having launched in Malaysia in early 2023, TrueMoney Malaysia has experienced substantial growth, boasting around 12,000 merchants and over 30,000 payment points that encompass retail, gaming, technology, restaurants, and more. Operating in six other countries, the TrueMoney e-wallet has impressively surpassed 50 million downloads of its e-wallet app, catering to a vast user base across Southeast Asia. TrueMoney also has the largest agent network with over 88,000 agents, helping its customers send money seamlessly both domestically and overseas, capturing markets suchFollowing the facilitation, every staff member at Lotus’s can now enjoy a 10 percent cashback in TrueMoney e-wallet credits when making purchases at Lotus’s stores using the e-wallet app. The cashback applies to all transactions without any minimum spend requirement, with a cap of RM50 per staff member per month. Additionally, Lotus’s staff will earn 3 times Lotus points for every MYR 1 ($0.22) spent, as opposed to the standard 2x Lotus points earned by regular customers. C. P. Group employees will also now have the opportunity to receive a 5 percent cashback on their purchases at Lotus’s stores when utilizing the TrueMoney e-wallet app, without any minimum spending requirement, but with a maximum cap of MYR 25 ($5.39) per staff member per month. “On top of cashback and Lotus’s member points, we frequently organize curated lucky draws and engaging marketing campaigns to offer employees a chance to win exciting prizes,” said Chong. Through the firm’s initiatives, she said the firm aims to create a mutually beneficial ecosystem where staff members can enjoy the perks of TrueMoney and savor the advantages of digital payments seamlessly. “We look forward to delivering exceptional value and experiences to their employees and customers alike,” she added. By pursuing such strategic partnerships, TrueMoney said it strives to foster a comprehensive ecosystem of digital payment services, providing enhanced benefits and convenience for both corporate employees and the wider Malaysians. With its wide range of services and offerings, the brand said it aims to be the go-to platform for all digital payment needs in Malaysia. The C. P. Group was founded in the early 1920s as a conglomerate focused on agri business-production and processing and service-telecommunications, logistics andThe C. P. Group currently has investments in 21 countries and economies. In 1974, the C. P. Group was incorporated in Malaysia primarily in the poultry integration Industry. The C. P. Group Malaysia consists of two groups with different types of businesses which are the agro-industry and foods business group and the aquaculture business group. Lotus’s Stores Malaysia Sdn Bhd (Lotus’s Malaysia) is a member of the C. P. Group since December 2020. Having acquired Tesco Malaysia’s business in December 2020, Lotus’s Malaysia has assumed the operations of all existing Tesco stores, employing 9,000 employees across one head office, two distribution centers and 65 stores throughout Peninsular Malaysia. Lotus’s also has an extensive online grocery home shopping network with over 100 delivery trucks and operations in Penang, Johor Bahru, Melaka, Negeri Sembilan and Ipoh in Malaysia. Thailand e-wallet provider TrueMoney enters Malaysia

https://technode.global/2023/08/14/malaysias-kgw-logistics-collaborates-with-uthm-to-introduce-hands-on-learning-in-logistics-and-e-commerce/

Malaysia’s KGW Logistics collaborates with UTHM to introduce hands-on learning in logistics and e-commerce

KGW Group BerhadKGW said in a statement on Monday that this collaboration is designed to empower students with a hands-on learning experience in the world of logistics and e-commerce. KGW, through this collaboration, stands as a commercial entity that offers an ecosystem for live training. The facilities provided by KGW at UTHM include specialized rooms such as a warehouse, parcel collection room and more. These spaces allow students to experience the actual workflow and operations of a real-world logistics system. Beyond theoretical knowledge, this partnership fosters students’ practical understanding on the logistics system. KGW said the firm is committed to supporting universities in nurturing students, emphasizing hands-on training and live practice. The meticulously crafted learning modules are designed to replicate real-life scenarios, ensuring students are industry-ready upon graduation. “Our hands-on approach not only differentiates us but also aligns with our commitment to nurturing the next generation of entrepreneurs,” KGW managing director Roger Wong said. With UTHM based in Johor, KGW emphasizes that Johor will spearhead the aforesaid project. It said the collaboration sets a benchmark for educational institutions and highlights Johor’s commitment to be at the forefront of technological and educational advancements. It is noted that the Enterprise Trade Hub will function as a learning center for import and export trade via online platforms like eBay, Amazon, and Etsy, specifically targeting the United States market. By working closely with the KGW Group, it said UTHM students will gain an understanding of global supply chain management and e-commerce ecosystems. Listed on the ACE Market of Bursa Malaysia, KGW is principally involved in logistics services as well as the warehousing and distribution of healthcare-related products and devices. Under logistics services, the group offers ocean and air freight services and freight forwarding services. The firm has a diversified customer base across the world, focusing primarily on Malaysia, the rest of Asia and North America. Malaysia’s Teleport unveils first A321 freighter

https://technode.global/2023/08/14/fourier-intelligence-delivers-advance-rehab-robotics-center-to-wq-park/

Fourier Intelligence delivers advance rehab robotics center to WQ Park in Malaysia

Singapore-based technology firmFourier Intelligence said in a statement on Monday that the East Coast in Malaysia will now see a comprehensive range of advanced rehabilitation technology as the firm supplies its dynamic range of rehabilitative solutions to WQ Park. This is in line with the recent launch of its advanced rehab robotics center (ARRC) in Kuala Lumpur, where Fourier Intelligence aims to utilize its new facility to serve as a direct waypoint for the domestic medical industry to obtain the latest advancements in rehabilitation technology. In addition, it also aims to cater for the growing demand for rehabilitation technology globally. “The World Health Organization (WHO) has estimated that over 1 billion people are affected by disabilities that impact their mobility and independence, “By harnessing the power of robotics and engineering, we can transform countless lives and redefine the future of rehabilitation,” said Zen Koh, Co-Founder and Global Chief Executive Officer of Fourier Intelligence. “At Fourier Intelligence, we aim to empower therapists and patients alike. We are glad that local institutions such as WQ Park are utilizing our devices to provide rehabilitative solutions to Malaysians, “Through this, we believe that it will be able to assist and drive growth in Malaysia and the Southeast Asian Region,” he added. Fourier Intelligence is a technology company dedicated to developing exoskeleton and rehabilitation robotics with a focus on creativity since its inception in 2015. The company collaborates with researchers, therapists, and patients to deliver cutting-edge rehabilitation robotics solutions. Fourier Intelligence aims to elevate user experience through its interconnectable intelligent robotics technology, providing an intuitive, easy-to-use system that enhances the lives of both patients and therapists. With its diverse portfolio of more than 30 products and 200 turnkey solutions, the firm specializes in developing advanced robotic exoskeletons and virtual reality-based therapy platforms to address needs for upper, lower, balance and movement impairments. Coupled with gamified therapy, these innovations enable healthcare providers to deliver personalized and effective rehabilitation programs, improving the patient’s overall recovery outcomes and quality of life. Singapore’s Fourier Intelligence launches Advanced Rehab Robotics Center to expand rehabilitation tech solutions

https://technode.global/2023/08/11/malaysias-solarvest-eyes-further-expansion-in-taiwans-clean-energy-market/

Malaysia’s Solarvest eyes further expansion in Taiwan’s clean energy market

Malaysian clean energy firm Solarvest said in a statement that the firm has an active pipeline of projects in Taiwan, supported by 200.0 MWp of clean energy project opportunities. Following the group’s previous collaboration with Taiwan-listed solar investor and contractor company Hsinjing Holding Corporate Limited (Hsinjing) to develop solar projects, the group said the establishment of STCL further solidifies its foothold in Taiwan and opens opportunities for ventures into other renewable energy sources such as wind energy throughout the country. Solarvest Executive Director and Group Chief Executive Officer Davis Chong Chun Shiong said the foothold in Taiwan will further strengthen the group’s regional presence. “Taiwan presents a promising landscape for Solarvest’s expansion, driven by the nation’s ambition to achieve 30.0 GW of solar energy and 20.7 GW of wind energy by 2030 and 2035, respectively,” he said. According to him, Taiwan’s current solar energy generation stands at around 11.0 GW, while wind energy production is at 6.0 GW, revealing tremendous potential for the group to further advance Taiwan’s renewable energy ambitions. “At Solarvest, we remain committed to being a trusted partner in supporting the global energy transition towards a sustainable future. “As Solarvest advances ahead, we are transforming into a holistic clean energy developer, actively participating as an asset owner or co-developer in our overseas projects,” he said. In tandem with the group’s five-Year strategic roadmap, he said the firm is also exploring other clean energy sources, particularly in the development of wind energy projects alongside its focus on solar projects in Taiwan. As a clean energy expert with a multi-national presence across Asia-Pacific, Solarvest engages across the clean energy value chain encompassing development, financing, engineering, construction, operation, and maintenance of solar photovoltaic (PV) assets. The Malaysia-based company started as a one-stop solar photovoltaic system solution provider for residential, commercial and industrial, and utility-scale solar farms. The group owns renewable energy generation plants with a cumulative capacity of approximately 100 megawatt-peak (MWp). Additionally, Solarvest has a proven track record with a clean energy capacity of 1.0 gigawatt (GW) for both completed and ongoing projects, which is set to be further bolstered by a robust tender book of approximately 2.5 GW. The company is currently venturing into other clean energy solutions including, among others, energy efficiency, low-carbon mobility, and renewable energy certificates. Going beyond solar, the firm is venturing into new sustainable solutions across the clean energy ecosystem, such as energy efficiency (EE) solutions, energy storage systems (ESS), low-carbon mobility (EV) ecosystem, renewable energy certificates (REC), green hydrogen, and green data centers. Solarvest earlier demonstrated expertise in the installation of large-scale solar plants (LSS), as exemplified by the installation of a 50 MW large-scale solar farm for Malaysia’s utility provider, TNB Engineering Corporation Sdn Bhd. Aligned with the growing adoption of clean energy across the commercial and industrial (C&I) rooftop project landscape, the group’s portfolio boasts services provided to a diverse multinational clientele. This includes the monumental rooftop solar PV project with NEFIN Group and Petroliam Nasional Berhad (Petronas), to power up a total of 27 outlets of the renowned hypermarket chain, Lotus’s Malaysia. Having worked with NEFIN Group on several successful solar projects, Solarvest is extending its partnership with NEFIN Group to further develop projects across the Asia Pacific region. Malaysian clean energy firm Solarvest embarks strategic initiatives to expand into Singapore and Brunei

https://technode.global/2023/08/10/malaysias-bintang-capital-invests-in-singaporean-integrated-waste-management-firm-blue-planet/

Malaysia’s Bintang Capital invests in Singaporean integrated waste management firm Blue Planet

Bintang Capital Partners Berhad (Bintang)The investment marks a significant milestone in Bintang’s commitment to supporting innovative companies that can revolutionize the waste management industry and drive positive impact to the environment, Bintang said in a statement on Thursday. According to the statement, the investment proceeds are to be utilized to expand the company’s operational teams and portfolio of waste management technologies, which in turn will allow Blue Planet to manage and process additional waste types in its existing as well as new markets. It is noted that Bintang’s investment was driven by its belief that there is an urgent need for sustainable waste management solutions at scale, akin to Blue Planet’s, to address the growing volumes of hazardous and environmentally damaging waste being produced globally. In Malaysia alone, it is estimated that approximately 38,000 metric tonnes of waste per day was generated in 2021, contributing to the overflowing of local landfills and environmental pollution. Through Bintang’s investment, it aims to support Blue Planet’s efforts to tackle this critical waste problem in Malaysia and abroad. “This partnership will help to continue Blue Planet’s growth, particularly with respect to expanding the types of wastes and the countries within which our portfolio of solutions will be applied, “With Bintang’s support, we have greater confidence and optimism in moving towards our vision of a zero waste-tolandfill future,” said Madhujeet Chimni, Founder of Blue Planet. Blue Planet is a global waste management enterprise that is delivering innovative environmentally friendly and fully integrated waste management solutions across India,The company leverages its proprietary technologies to deliver a broad range of solutions, including the remediation and recovery of waste-contaminated areas, waste collection and sorting, reclamation of raw materials (e. g. metals, wood or concrete) from waste, waste-to-energy solutions as well asrecycling and upcycling waste into functional higher-value products, for multiple types of waste (e. g. municipal solid waste, industrial waste, electronic waste, construction waste and scheduled waste). Since Blue Planet’s inception in 2017 by its founders, Madhujeet Chimni, Bharadwaj Chivukula, and Prashant Singh, the company has proven its track record in waste management solutions and addressed the pressing challenges of resource recovery. The company has processed 3.3 million metric tonnes of waste and mitigated an equivalent of 2 million metric tonnes of carbon dioxide emissions in 2022 alone. It is estimated that Blue Planet currently removes 15,200 metric tonnes of waste per day from existing landfills, generates 10,000 normal cubic metres of biogas (as clean energy) per day via the processing of organic waste and has recovered more than 800 acres of land (legacy landfills) for public use. “Given the urgency around the growing global waste problem, and as the first B Corp Certified private equity firm in Southeast Asia, Bintang is thrilled to be a part of Blue Planet’s quest to transform the Southeast Asian waste management industry,” said Bintang’s Founder and Chief Executive Officer, Johan Rozali-Wathooth. He said Bintang is strongly aligned to Blue Planet’s innovative, efficient and sustainable approach towards waste management, coupled with the company’s ability to successfully combine cutting-edge technologies and streamlined processes at scale. “The remediation of legacy landfills, which can be then put to use as public spaces and rehabilitated for the planting of trees, provides opportunities to not only reverse ecological damage of the past but also create net positive environmental impact in the future,” he added. Bintang is the private equity arm of AHAM Asset Management Berhad, a Malaysian asset management group. The firm focuses on deploying capital into fast-growing mid-sized ASEAN companies with proven track records. The firm’s maiden fund, BCPAF I is anchored by Dana Penjana Nasional, an investment fund under the Malaysian Government’s Ministry of Finance aimed at catalyzing the country’s post Covid-19 economic recovery whilst supporting the local private capital industry. Malaysia’s Involve Asia raises over $10M in funding round led by Bintang Capital Partners

https://technode.global/2023/08/09/mranti-launches-malaysia-innovation-matching-platform-to-propel-commercialization-rate/

MRANTI launches Malaysia innovation matching platform to propel commercialization rate

The MRANTI said in a statement that MATCH is a technology innovation monetization platform that connects and offers local technology providers and seekers win-win solution to accelerate the technology commercialization in Malaysia. According to the statement, the site is expected to enlist 50 innovation seekers and providers in the initial phase with a 10 percent successful matching rate target. Through MATCH, researchers, investors, individuals and experts at any stage of their technology development looking for an industry partner or funding, sandbox sites, orIn providing “match-making” services, the platform will also act as a vibrant marketplace where a list of projects based on the technology readiness level and technology categories align with specific and profitable use cases. “Similar to an e-commerce site, MATCH in this case, is for anyone and everyone in the innovation ecosystem, “By bridging all interested individuals and organizations, we hope to have a tighter, more transparent, cohesive and consistent view on the opportunities and gaps in commercialization of local technologies,” said Dzuleira Abu Bakar, Chief Executive Officer of MRANTI. Meanwhile, ministries, government agencies, corporates, or businesses seeking to acquire new technology innovation or searching for solution partners can connect through theIn addition, the platform synergizes with and complement various other initiatives and databases including the Malaysia Open Science Platform by Akademi Sains Malaysia as it extends the work of scientists and the academia beyond the confines of the laboratory or academia, into the market where innovative technology matches its specific and profitable use case. It is also designed to support forums on licensing, investment and more. MRANTI noted that for decades now, the gross domestic product of a nation has been the measure of success, but the United Nations has stated that “innovation and creativity have become the true wealth of nations in the 21st century. “We need to foster more value through innovation in advancing the country’s economic and social development – more so, as intellectual property and innovation translates into tangible and intangible wealth,” Dzuleira explained. Additionally, MRANTI exchanged two separate memorandum of understanding (MoU) with pharmaceutical giant AstraZeneca and the Eastern Academic Health Science Network (EAHSN) – a United Kingdom (UK) government linked company funded by the National Healthcare Service (NHS) and the Office for Life Sciences. These initiatives bring together academia, citizens, health services and industry to realize the value of healthtech innovations more quickly. Amongst others, AstraZeneca will consider viable local innovators to be included in its exclusive A. Catalyst network. This is an interconnected and dynamic global network of more than 20 AstraZeneca health innovation hubs, made up of physical locations and virtual partnerships. MRANTI, appointed as the exclusive partner for the A. Catalyst program in Malaysia, will funnel Malaysian innovators to a global network of healthcare players, providing them access to conduct clinical or real-world evidence and evaluation through AstraZeneca networks worldwide, and EAHSN’s reach in the United Kingdom. This includes research and development activities, market access, strategic partnerships and joint ventures and other business growth activities. MRANTI meanwhile, will lend its experience in running Sandbox and capability programs, to allow innovators, researchers, start-ups and high-tech entrepreneurs to develop and test their products, services, business models and delivery mechanisms in a safe, live environment. 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. The agency serves as a connector, incubator and catalyst to enable early-stage ideation to mature entities to commercialize and scale. It offers innovators and industry access to integrated infrastructure, programs, services, facilities and a suite of resources. It 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. MRANTI partners pitchIN to boost Malaysian startups

https://technode.global/2023/08/09/antler-appoints-serial-entrepreneur-frank-kang-as-associate-partner-and-country-head-for-malaysia/

Antler appoints serial entrepreneur Frank Kang as Associate Partner and Country Head for Malaysia

Singapore-based venture capital firm Antler said in a statement that this senior-level appointment further strengthens Antler’s commitment to investing in early-stage startups and backing exceptional founders in the region. According to the statement, Kang will be taking the role of Country Head to spearhead the company’s investment strategy and operations in Malaysia. Leveraging his extensive entrepreneurial experience across various industries, he will play a pivotal part in empowering Malaysian founders to think globally and scale their businesses beyond borders. Headquartered in Kuala Lumpur, Antler is aiming to invest in over 30 startups across Malaysia over the next three years. The very first residency program in Malaysia is set to commence in October 2023. At present, Antler is one of the most active early-stage investors globally and has invested in over 792 companies across 26 cities worldwide, amassing a cumulative portfolio value of $3.7 billion. As a serial entrepreneur, Kang brings Antler an extensive 17 years of entrepreneurial skills across various industries. His entrepreneurial journey began when he co-founded a social networking service at the age of 23, for which he secured investment from the Japanese multinational investment holding company, SoftBank. Subsequently, he ventured into Silicon Valley to bring Twitter services to Korea. His venture led to the establishment of one of the largest Twitter directories in Korea, with over two million users at the time. Back in Malaysia, he acquired the leading e-commerce platform, everyday. com. my (later rebranded to LivingSocial Malaysia), and expanded the team from seven to more than 160 employees. Thereafter, he founded Althea, Korea’s premier beauty platform with digitally native vertical brands. Althea managed to raise funds from global institutional investors. Prior to his appointment with Antler, Kang was the Venture Partner of Vynn Capital and was an Angel Investor and Advisor. “Being a senior school year dropout and having experienced both failure and success early in my career, I’m excited to support founders to build and scale meaningful businesses that can bring positive impact to the world,“I believe local talents in Malaysia have a huge potential and we will be able to help them think globally,” said Kang. Antler (Asia) Co-Founder and Managing Partner Jussi Salovaara said the appointment came as the management strengthens the firm globally across 26 cities including Malaysia. “Antler is committed to supporting entrepreneurs and pursuing our vision of making progress inevitable,” he said. With Kang’s proven track record of building scalable businesses in Asia, she opined that his vast experiences are bound to expand the entrepreneurial impact of Malaysians across borders. Antler is a global early-stage venture capital firm that invests in the world’s most driven founders from day zero to greatness. Founded on the belief that people innovating is the key to building a better future, the firm partners with people across six continents to launch and scale high-potential startups that address meaningful opportunities and challenges. The firm has offices globally across most major entrepreneurial hubs in 26 cities, including Malaysia, Singapore, Jakarta, Ho Chi Minh, Austin, New York, London, Berlin, Stockholm, Bangalore, Seoul, Tokyo, and Sydney. Its global community backs people from the beginning with co-founder matching, deep business model validation, initial capital, expansion support, and follow-on funding. Fueled by a personal passion that goes beyond traditional investing, the firm has helped create and invest in more than 800 startups across a wide range of industries and technologies, with the goal of backing more than 6,000 by 2030. Specializing in ‘Day Zero investing’, the firm takes a distinctive approach to fostering startup success. The firm is committed to supporting founders throughout their journey, starting from the pre-seed stage and extending all the way to Series A and beyond. This includes support in co-founder matching, deep business model validation, provision of initial capital, expansion assistance, and securing follow-on funding. With the firm’s comprehensive investment approach, startups are backed from their very earliest days through significant growth phases. Singapore’s Antler partners Khazanah to launch and invest in Malaysia