Sarawak Digital Economy Corporation, Kintone formalise partnership to boost digital adoption among Malaysia’s SMEs

By:
On:
In: Technology
  • The Sarawak Digital Economy Blueprint 2030 and business development are fueled by association.
  • Collaboration supports Sarawak’s perception for a tech-driven, green circular economy

Left to Right: Shingo Hiraki, first secretary, Telecommunication & IT, Embassy of Japan in Malaysia;.Tsubasa Nakazawa, managing director Kintone Southeast Asia Sdn Bhd; Amar Mohamad Morshidi Abdul Ghani, chairman of SDEC

Sarawak Digital Economy Corporation ( SDEC ) and Kintone Southeast Asia Sdn Bhd ( Kintone ) have joined forces to drive Sarawak’s digital future. In an effort to advance Sarawak’s modern economy through the use of cutting-edge technologies, the two businesses recently signed a Memorandum of Understanding. This collaboration is in line with Sarawak’s desire for a round, green economy based on technological advancement and responsible growth.

To support Sarawak’s small and medium-sized enterprises ( SMEs ) in their digital transformation journey, SDEC and Kintone successfully co-hosted the inaugural SME Digital Transformation Seminar in Kuching, Sarawak, on 18 February. The seminar made a major step forward in providing Sarawak’s small and medium-sized businesses with the resources, expertise, and tools necessary to grow their businesses and stay competitive in an increasingly electric world.

Sarawak’s attempts to digitalize have attracted more attention, and the state government is actively investing in digital equipment. The partnership between SDEC and Kintone is in line with the growing need for versatile, available options for local organizations and supports the goals set out in the Sarawak Digital Economy Blueprint 2030.

SMEs account for approximately 97 % of all businesses in Malaysia, making them the backbone of the nation’s economy. ” Kintone’s no-code platform simplifies sophisticated process techniques, enabling SMEs across industries—including hospitality, building, and retail—to develop user-friendly custom programs tailored to their needs at a fraction of the cost. This reduces the stress of high-cost IT investments that many small companies struggle to maintain, according to Tsubasa Nakazawa, Kintone Southeast Asia’s managing director.

” Our final goal is to help businesses of all sizes connect this answer, transform their business processes, and promote flexible growth,” said the company. Kintone now serves over 37, 000 customers worldwide, empowering businesses, government agencies, and communities to improve productivity, engagement, and performance. This action reflects our broader commitment to supporting SMEs across Sarawak, Borneo, and Malaysia as a whole”, he added.

The SDEC by Kintone workshop brought up senior government officials, business leaders, and business owners, offering enterprises of all sizes an opportunity to understand how online tools can simplify operations and travel cost-efficient improvements—without requiring IT expertise. Attendees gained practical knowledge of how Kintone’s simple software aids organizations in managing workflows and enhancing collaboration at a reasonable pace. Additionally, the occasion provided networking opportunities for individuals to exchange ideas and link.

This workshop reinforced the shared idea that technology should be an innovator as Sarawak’s market continues to be shaped by modern change. Through practical demonstrations and expert-led discussions, participants witnessed firsthand how Kintone’s flexible platform can streamline workflows, reduce operational bottlenecks, and empower businesses to adapt to a rapidly digitising world.

Continue Reading

Maybank earns multiple sustainability awards at gobal finance sustainable finance awards

By:
On:
In: Technology
  • First banks in M’sia to release Climate Report and Social Impact Report in 2024.
  • won 4 ecology prizes, including Best Bank for Sustainable Financing in Emerging Markets.

At the International Finance Sustainable Finance Awards, Maybank has received numerous accolades. Among the awards, Maybank was named the Best Bank for Sustainable Financing in Emerging Markets ( Global &amp, Asia Pacific ), Best Bank for Sustainability Transparency ( Asia Pacific ), Best Bank for Sustainable Finance ( Malaysia ), and Best Bank for Sustainable Finance ( Indonesia ). In a press release, the bank said these accolades reflect its efforts to combat climate change and advance sustainable development in the ASEAN area.

In addition to these sustainability-focused prizes, Maybank was even recognized as the Best Foreign Exchange Bank in Malaysia. These achievements coincide with the company’s M25 technique, which emphasizes customer-centricity, online change, and sustainability leadership.

Continue reading at <a href="https://oursustainabilitymatters.com/maybank-earns-multiple-sustainability-awards-at-global-finance-sustainable-finance-awards/ “>https ://oursustainabilitymatters.com/maybank-earns-multiple-sustainability-awards-at-global-finance-sustainable-finance-awards/&nbsp ,for t<a href="https://oursustainabilitymatters.com/maybank-earns-multiple-sustainability-awards-at-global-finance-sustainable-finance-awards/ “>he full article as DNA is transitioning our sustainability coverage to a standalone news site.

Continue Reading

Converting radio frequency into usable energy – the success story of Malaysian inventors

By:
On:
In: Technology
  • developed an Radiofrequency technique that transforms atmospheric energy into energy for IoT devices.
  • Developed from Aug 2020 to Sept 2023, this technology boosts energy reliability &amp, conservation

Although mobile devices and Internet of Things ( IoT ) applications are becoming more common, keeping them charged is still a challenge. Researchers and industry leaders are looking into new ways of energy harvesting and developing novel charging options besides conventional power outlets.

This vision is becoming a reality in Malaysia, thanks to a collaboration between Infinecs Systems Sdn Bhd, Universiti Malaya, Asia Pacific University of Technology and Innovation, Universiti Sains Malaysia, and the Collaborative Research in Engineering, Science and Technology ( CREST ) Project. They have collaborated to create an innovative solution that transforms ambient radio frequency ( RF ) energy into usable electrical power for IoT devices, an Integrated RF Energy Harvesting System. Developed between August 2020 and September 2023, this discovery systems enhances energy efficiency and sustainability.

The system has a higher awareness that allows it to get energy from three different frequency bands, ensuring versatility, and an extended fluid range that allows efficiency to be maintained perhaps from poor RF signals. Additionally, it optimizes power storage and change for better performance.

The effectiveness of cooperation between academia and industry is demonstrated by this job. The Analog, Digital and RF Research Group, led by myself, along with contributions from Dr Lian Wen Xun and Dr Yong Jack Kee, played a key function in its development. Help from CREST, Infinecs, UM, APU, and USM was instrumental in bringing this technology to existence”, said Dr Ir Harikrishnan Ramiah, mind of the Centre of Research Industry at Universiti Malaya and director for the job.

He noted that overcoming a number of professional difficulties was necessary to create an RF energy harvesting system that could effectively convert RF power across many songs. ” This was achieved through strenuous study, extensive tests, and close cooperation between scientific analysts and industry specialists”, he said.

Another key problem was integration—seamlessly combining parts such as the RF front-end, converter, and cost pumps into a single program. ” We addressed these issues through careful architecture and optimisation”, Harikrishnan added.

The program has largely good industry feedback, and there is a lot of interest in its ability to provide self-sufficient, green power solutions for IoT devices. The renowned Major In Tech Innovation Award for Most Powerful Academia-Industry Collaboration has been given an additional recognition for its effects.

Looking back, the team is actively pursuing commercialism, targeting programs in 5G contacts, IoT sensors, biological wearables, and RFID. ” We even plan to continue R&amp, D efforts to enhance the state’s functionality, performance, and flexibility. According to Harikrishnan, the future work includes integrating it with 5G Wireless Sensor Networks ( WSN) and co-designing antennas and rectifiers to reduce system complexity and improve overall performance.

Continue Reading

Nexmedis secures funding co-led by East Ventures and Forge Ventures

By:
On:
In: Technology
  • The scope of money may include AI and services for the healthcare industry.
  • Fuses knowledge in computer technology &amp, medicine to generate medical innovation

Left to right:  Dr. Almer Deta Tarandha, (co-founder and chief medical officer), Yehuda Dani Utomo (co-founder and CEO), Matilda Narulita (co-Founder and COO)

Nexmedis, an Indonesia-based AI-powered Health Information System operator, has secured an unknown amount of funding co-led by East Ventures and Forge Ventures. This financing will help Nexmedis ‘ mission to revolutionise healthcare operations, improve medical services, and improve patient outcomes across Indonesia. Additionally, it will help grow its service to all of the nation’s hospitals and introduce more advanced AI solutions to address issues in the healthcare system.

Problems in healthcare, such as regular administrative jobs and scattered data, have delayed symptoms and treatments. Moreover, Indonesia’s large landscape complicates the distribution of advanced health tools and training to rural areas, affecting patient care.

Founded in 2023 by Yehuda Dani Utomo ( co-founder and CEO ), Matilda Narulita ( co-founder and COO ), and Dr. Almer Deta Tarandha ( co-founder and chief medical officer ), Nexmedis combines expertise in computer science, management consulting, and medicine to drive healthcare innovation. Its options emphasize the incorporation of AI to improve efficiency and effectiveness in healthcare procedures.

Starting with its Clinical Decision Support option, Nexmedis offers an AI-powered HIS that makes the person and care company trip better. This device provides treatment recommendations using ICD-10 codes ( International Classification of Diseases 10th Revision ), enabling personalized treatment recommendations and a smooth process of insurance claims processing. For the Social Security Agency of Indonesia, health and personal insurers, correct data is provided.

Additionally, the company is developing an AI-powered translation tool that can turn voice notes into planned digital records, summarizing exchanges between patients and doctors. This application aims to reduce human documents, optimize operations, and enable care providers to focus more on patient care. It is scheduled to debut immediately.

” We are thrilled to had secured this purchase, which will be a game-changer as we continue to innovate and provide AI-driven alternatives to care. East Ventures and Forge Ventures have put a lot of confidence in us as a means of bridging the gap in healthcare accessibility with technology, and their commitment to it is reflected in this. With their help, we are poised to expand our growth and effects, improving individual attention and outcomes”, said Yehuda Dani Utomo, co-founder and CEO of Nexmedis.

Since August 2023, Nexmedis has served over 400 medical services. In the Ministry of Health’s Regulatory Sandbox program, its clinical tests AI has been designated as” Fostered by the Ministry of Health.” In addition, the company has collaborated with leading universities like Gadjah Mada University and the Ministry of Communications and Information Technology to develop AI-powered wellness digitalization.

” We are excited to work with Nexmedis to transform Indonesia’s care environment by integrating AI to enhance performance and patient care. Their growth and collaborations with important institutions “underline the need for creative electronic solutions in the industry,” said Melisa Irene, companion at East Ventures.

” At the foundation of great organizations are great owners, and we’re looking forward to partnering with Yehuda, Matilda, and Almer, who are driving change in a crucial business in Indonesia through their modern materials”, said Tiang Lim Foo, managing partner at Forge Ventures.

With this funding, Nexmedis will be able to expand its services to more hospitals and introduce custom-made AI solutions to address Indonesia’s healthcare challenges.

Continue Reading

Simon Davies announced as new SAP regional president, Asia Pacific

By:
On:
In: Technology
  • replaces Paul Marriott, who served as the lead for five years.
  • 25 years ‘ experience in building, selling & APAC is implementing IT options.

Simon Davies has been appointed chairman of the previously established APAC area by SAP Asia Pacific. Based in Singapore, Davies may oversee plan, businesses, individuals, sales, services, partners, and success across Asia Pacific for SAP SE. Paul Marriott is returning to Europe to get closer to his home after five times in the position.

With SAP business models operating in Australia and New Zealand, Greater China, India, Japan, Korea, and Southeast Asia, Davies may be responsible for overseeing more than 31,000 people across 78 practices.

Across the APAC area, SAP serves leading users, including NEC Corporation, Coles Group, Wipro, Fujitsu Limited, Shiseido, Hyundai Motor Company, Kia Corporation, Himalaya, Cochlear, and Japan Airlines.

Due to this appointment, Davies spent 25 years building, selling, and implementing IT answers in Asia Pacific, working with some of the world’s major technology companies, including Microsoft, Salesforce, and Oracle. He most recently held the position of senior vice president and general director of Splunk for more than three decades. Davis is a member of the Australian Institute of Company Directors and serves on the boards of several pre-IPO tech companies.

Manos Raptopoulos, chief revenue officer for APAC, EMEA, and MEE, said, “Our second book is being fuelled by accelerated sky and AI technology, underpinned by our goal, our persons, and our alliances. Davies combines experience in Asia’s fast-growth, innovation-hungry markets with proven expertise in building high-performance, diverse, and inclusive teams.

Under Davies, I’m confident that SAP APAC will continue to build on the tremendous momentum created under Marriott’s leadership and serve as a resource for innovation and customer success. ”

Davies said, “I’m very excited for this new chapter to begin. We see forward-thinking businesses supporting SAP’s strategic transformation across Asia-Pacific and Japan. Establishing a solid foundation in the cloud and utilizing business data is the first step in the direction of new growth opportunities in fields like sustainability and data analytics. ”

Continue Reading

CelcomDigi closes FY2024 with stronger performance in Q4, poised for growth as market leader

By:
On:
In: Technology
  • On monitor to obtain yearly value saving of US$ 158–180 million
  • One-off merger adjustments cut FY2024 EBIT by 13.4 % and PAT by 11.4 % &nbsp,

CelcomDigi Berhad has released its fourth-quarter and full-year results for the financial year 2024 ( FY2024 ), which show strong financial and operational performance while carrying out an extensive integration program in its second year as a merged company. The company stated that it has progressed forward of strategy in merging and transforming its community, IT, financial, customer experience, and operating model, laying a solid foundation for long-term lucrative growth.

Second-year inclusion and transformation away of plan, collaboration targets on-track

In 2024, CelcomDigi accelerated its networking integration and reform, completing about 75 % of the program. Additionally, it safely completed the initial stage of harmonising its customer relationship management and billing systems. Revenue productivity and customer experience have increased as a result of the opening of 48 novel retail locations. Secondly, the business recently updated its goods lineage, which is now governed by a single CelcomDigi company, across all customer and enterprise segments.

As a result of these cost efficiencies, CelcomDigi remains on track to achieve annual cost savings of US$ 158 million ( RM700 million ) to US$ 180 million ( RM800 million ) post-2027.

]RM1 = US$ 0.22]

Developing opportunities for profitable and sustainable development

In the first three months of FY2024, CelcomDigi maintained a steady topline with solid underlying profitability and disciplined cost management and synergy realization.

One-off merger-related financial adjustments led to a 13.4 % decline in reported EBIT and an 11.4 % drop in PAT for FY2024. However, excluding these non-recurring adjustments, normalised EBIT grew by 4.0 % to RM2, 797 million, while normalised PAT increased by 11.6 % to RM1, 748 million, driven by cost optimisation and synergy savings.

Earnings growth in Postpaid, Home &amp, Fibre, and Enterprise options offset declines in Prepaid and Enterprise smart. FY2024 services revenue stood at RM10, 792 million, marking a slight 0.6 % decrease in the second year of connectivity.

Postpaid revenue grew 2.6 % year-on-year to RM4, 181 million, supported by a subscriber increase of 374K, while Prepaid revenue declined by 3.4 % to RM4, 416 million, with subscriber losses (-23K Q-Q) slowing, indicating signs of stabilisation.

Home &amp, Fabric profit surged 34.4 % year-on-year to RM185 million, with 76K new clients, outpacing business growth. Enterprise Solutions also recorded an 8.8 % increase, while Enterprise Mobile improved 5.2 % quarter-on-quarter, reflecting stronger adoption of corporate offerings.

CelcomDigi finished the year with an increased integrated Profitability of RM42 and an estimated 20.4 million subscribers. The business declared a third time income of 3.7 senator per share, bringing the FY2024 total to 14.3 sen per share, in line with its green dividend commitment.

Future progress and efficiency are provided by change initiatives.

We accomplished important milestones in our next season of post-merger connectivity, capturing synergies as planned while maintaining fiscal discipline to give solid financial and operating performance, according to CEO Idham Nawawi. In accordance with our FY2024 direction, this execution allowed us to create value for shareholders.

He added,” With a solid foundation in place, we will focus on strengthening business management, driving long-term profitable progress, and enhancing customer value through product innovation and online services. We aim to be one of the most cost-effective operators in the world by improving our operating model and improving our costs.

” We will continue to invest in digital services and AI-driven capabilities to redefine customer experiences.” These initiatives will sustain our market leadership, drive our telco-tech ambition, and support Malaysia’s development into a 5G-AI-powered digital society”, Idham said.

Financial and operational highlights

  • Consumer: Postpaid continuing growth momentum, while Prepaid base stabilised with retention activities
    • Postpaid subscribers grew 83K Q-Q and 374K Y-Y in Q4 FY2024, reaching 5.79 million subscribers, driven by the company’s efforts in offering attractive packages and competitive pricing. Q4 2024 revenue was RM1, 063 million, 1.6 % Q-Q and 3.9 % Y-Y, reflecting market trend with growing mid-value customer base, coupled with outbound roamers during the year-end festive period.
    • Prepaid subscribers decreased -23K Q-Q, -621K Y-Y to 12.86 million subscribers, driven by targeted retention campaigns. Revenue in Q4 was RM1, 088 million, -0.7 % Q-Q, -5.1 % Y-Y, impacted by lower activations arising from dual-SIM consolidation and a strategic decision to reduce reliance on one-time rotational SIM segment. Average revenue per user ( ARPU) remained stable at RM28 despite price competition.
  • Home &amp, Fibre: Persistent and solid growth in subscribers and revenue, with industry leading subscriber additions
    • Subscribers grew 29K Q-Q, 76K Y-Y, totaling 188K subscribers, driven by competitive offerings and channel push.
    • Revenue was RM56 million, 14.3 % Q-Q, 48.3 % Y-Y, in tandem with the growth of subscribers. ARPU reduced to RM107 due to one-off finance re-classification.
  • Enterprise: Improved performance in Enterprise Solutions
    • Enterprise revenue improved 4.3 % Q-Q driven by increase in Mobile, M2M, ICT Solutions and Bulk SMS, but declined -1.7 % Y-Y in Q4 FY2024 to RM307 million, mainly affected by the decline in mobile revenue.
    • Fixed connectivity and ICT solutions are key factors in the growth of the corporate sector.

FY2025 financial guidance

For 2025 or beyond, CelcomDigi anticipates a more robust and sustainable outlook. The guidance for FY2025 is as follows:

Continue Reading

Gobi Partners backs ArmourZero to revolutionise cybersecurity for SMEs across Southeast Asia

By:
On:
In: Technology
  • Options enable SMEs to mitigate dangers, boost their electric defences&nbsp,
  • Investment made through Gobi Dana Impact Ventures, backed by Khazanah National

The ArmourZero team

Gobi Partners, Asia’s leading venture capital firm, has announced an undisclosed investment in ArmourZero Holdings Pte Ltd, a cloud-based cybersecurity platform offering AI-powered Application Security and Security-as-a-Service ( SECaaS ).

This expense, made through the Gobi Dana Impak Ventures account backed by Khazanah Nasional Berhad, coincides with Khazanah’s Dana Impak mission. The funding demonstrates Gobi’s commitment to supporting businesses and advancing security in Southeast Asia.

Founded in 2022, ArmourZero commenced operations in January 2023 and operates through wholly owned subsidiaries in Malaysia, Singapore, and Indonesia, with its main business routines centred in Malaysia. The partnership between security expert Tho Kit Hoong and technology innovator Chong Wai Lun, which focuses on meeting the security needs of software developers and small and medium enterprises, a crucial but underprivileged sector of the modern economy.

ArmourZero’s system tackles great cyber risk incidence, limited threat containment, expensive costs, and limited access to included security systems. Its essential options include:

    ShieldOne- Integrated Hazard Monitoring, Management, and Answer: ShieldOne streamlines security operations by integrating terminal security, e-mail protection, patch management, and more into a single platform. It provides real-time risk protection, 24/7 Tried Detection and Response, and a hassle-free knowledge. Partnering with industry leaders such as CrowdStrike, Checkpoint ( Avanan ), Bitdefender, and BitSight, ShieldOne helps businesses reduce complexity and strengthen their security posture.

  • Handled Detection and Response ( MDR): A key element of ShieldOne, MDR offers real-time risk monitoring, proactive event management, and rapid reply. Delivered by a dedicated staff of security analysts, it ensures enterprise-grade security at a cost-effective value.
  • ScoutTwo- AI-powered Application Security: ScoutTwo maintains web and mobile apps from creation to implementation. It provides immediate risk monitoring, risk prioritisation, and AI-powered restoration tips. ScoutTwo improves software safety at every stage while ensuring business continuity and preventing cyberattacks.

According to Tho Kit Hoong, CEO and co-founder of ArmourZero, “our aim is to reinvent security by making it simpler and more available for businesses of all sizes.”

He continued,” This expense accelerates our creativity and strengthens our commitment to providing strong, AI-driven security solutions that simplify security and eliminate complexity.”

addressing Southeast Asia’s Growing Need for Cybersecurity

Southeast Asia’s cybersecurity market is expected to grow from US$ 35billion ( RM156billion ) in2023 to US$ 35billion ( RM156billion ) in2023to US$ 84 billion ( RM375 billion ) by 2028, driven by escalating cyber threats and digital transformation. SMEs, comprising 99 % of Malay companies, experience significant risk due to limited tools and knowledge.

]RM1 = US$ 0.22]

ArmourZero’s options bridge this gap, enabling SMEs to mitigate risks, lower costs, and boost their online defences. Malaysia recorded over 28, 000 attacks in 2022, with virtual incidents between 2017 and 2021 resulting in RM2.23 billion in monetary loss. According to studies, organizations that resolve intrusions within 200 days substantially lower costs. ArmourZero’s fast violation detection and response abilities help businesses contain risks, minimise losses, and strengthen their security position.

Potential Intentions and Regional Impact

ArmourZero plans to expand its footprint across Southeast Asia by introducing more creative, game-changing products to improve security for businesses. This complies with Gobi Partners ‘ desire to support businesses that generate substantial benefits and sustainably grow.

By making cybersecurity available for businesses and online applications, as well as SMEs, ArmourZero is addressing a crucial issue, according to Jamaludin Bujang, Managing Partner of Gobi Partners.” A essential segment that drives financial growth remains underprivileged in electronic protection,” said Bujang.

Their cutting-edge platform and leadership team “exemplify Gobi’s commitment to supporting startups that have a significant impact,” he continued.

Dana Impak is a key foundation of Khazanah’s Advancing Malaysia plan, anchored by the’ A Nation That Creates ‘ foundation, which aims to boost regional productivity and competitiveness. Dana Impak initiatives aim to enable Indonesian businesses of all sizes and across various life cycles, including businesses, little to mid-tier organizations, as well as large companies, with the objective of improving the employment of areas.

ArmourZero is offering a special 50 % discount on ScoutTwo, its AI-powered DevSecOps platform, as part of its commitment to improving cybersecurity for businesses and SMEs. ScoutTwo enhances web and mobile application security by providing real-time vulnerability detection, automated risk prioritisation, and AI-driven remediation. It ensures compliance with OWASP Top 10, CWE, and CVE standards, helping developers secure applications from development to deployment.

This limited-time offer is available until 31 March 2025. Sign up now to safeguard your applications: https ://www.armourzero.com/azgobiceleb/

Continue Reading

East Ventures, SV Investment announced the first close of its Southeast Asia – South Korea investment corridor fund

By:
On:
In: Technology
  • Plans to invest in revenue-generating companies, commonly at Series A to B levels
  • Targeting high-potential technology companies in SEA &amp, South Korea weighting across both regions

Sang Han, partner for East Ventures South Korea fund, Roderick Purwana, managing partner at East Ventures, Wonho Hong, CEO at SV Investment, David Junghun Bang, managing partner at SV Investment

The first close of East Ventures ‘ joint fund, known as the” East Ventures South Korea Fund in Partnership with SV Investment,” has been announced by SV Investment, a publicly listed venture capital and private equity firm with a headquarters in Seoul, South Korea.

Both events stated in a joint statement that this first final is supported by leading buyers from Korea and Indonesia. The bank is committed to expanding on the track record and enormous effectiveness delivered by both East Ventures and SV Investment to time, they added, adding that with anchor funds from the Korea Development Bank, Korea’s state-owned development bank, and a corporate commitment from one of the world’s leading neobanks.

The bank is prepared to build its capital in collaboration with the leading venture capital firms in both countries. East Ventures and SV Investment are constantly working to identify high-potential software companies in Southeast Asia and South Korea that want to level their firms across both areas. The fund expects to invest in revenue-generating startups, ideally raising Series A to B funding, with cheque sizes ranging from US$ 1million ( RM4.4 million ) to US$ 3 million ( RM13.4 million ) as the lead investor in high-conviction opportunities driven by exceptional founders.

This second nearby is a major step in our shared responsibility to encouraging investment and cross-border cooperation between Southeast Asia and South Korea. Our first Albums gave us a lot of encouragement, and we’re looking forward to new possibilities. Along with SV Investment, we are committed to forging a productive and healthy Southeast Asia for today, tomorrow, and for years to come”, said Roderick Purwana, Managing Partner at East Ventures.

The bank may be crucial in bridging the gap between Southeast Asia and South Korea by promoting friendship and building bridges. According to David Junghun Bang, Managing Partner at SV Investment, we are firmly committed to creating important collaboration for both regions because South Korea may include increased opportunities to develop into one of the fastest-growing and largest markets and Southeast Asia will benefit from the implementation of innovative technology from South Korea, which will help propel its economy to the next level.

The account is on record to close by the middle of 2025 and continues to engage with buyers.

Founded in 2009 in Indonesia, East Ventures has raised nine money focusing on Southeast Asia. The company has made investments in over 300 early- and late-stage technology companies, resulting in positive social and environmental effects and powerful financial results. Additionally, it has maintained a top-tier VC status in Southeast Asia, having been named by Preqin as the most consistently top-performing account worldwide and the most effective investment in Southeast Asia by numerous media stores.

With departments in Shanghai and Shenzhen in China and Boston in Singapore, SV Investment makes investments worldwide. One of the most effective separate Asian venture capital firms in Southeast Asia has been SV Investment.

Continue Reading

Japan Consumer Credit Service takes 49% stake in Carsome Capital for US.9 mil

By:
On:
In: Technology
    JACCS ‘ experience, solutions may be combined with Carsome Capital’s habitat

  • US$ 225m <strong>given since 2018 </strong>to help 45<strong>k</strong> deals for traders, end-customers

Carsome Group Inc, Southeast Asia’s ( SEA ) largest integrated car e-commerce platform, and JACCS Co, Ltd ( Japan Consumer Credit Service ), a consumer finance company, announced a strategic partnership where JACCS has taken a 49 % stake in Carsome Capital Sdn Bhd with Carsome Group holding 51 %. While Carsome did not disclose the acquisition cost in its statement to the media, JACCS in its media statement in Japan said the&nbsp, acquisition price was ¥3.5 billion ( US$ 22.9 million or RM101.7 million ).

While JACCS is a member of Mitsubishi UFJ Financial Group, Carsome Capital is Carsome’s financing shoulder. Since its inception in 2018 Carsome Capital has disbursed more than US$ 225 million ( RM1 billion ) of financing to support close to 45, 000 transactions for Carsome’s dealers and end-customers.

Since its entry into Vietnam in 2010, JACCS has expanded to the second SEA industry.

According to Carsome, the purchase will incorporate JACCS ‘ knowledge and international sources with Carsome Capital’s habitat and regional know-how, in order to offer tailored financing options in Malaysia, with an emphasis on under-served segments.

Additionally, the relationship will promote knowledge transfer to improve credit governance, risk assessments, and implement best practices to improve portfolio performance and financial sustainability.

Eric Cheng ( pic ), Carsome Group’s co-founder and CEO, said,” Carsome is honored to partner with JACCS, a global consumer finance company, as they mark their entry into Malaysia. By combining JACCS’s considerable experience with Carsome’s habitat, we aim to redefine the freedom financing experience, empowering communities and leading financial growth across the region”.

Ryo Murakami ( pic ), the president and representative director of JACCS, stated:” We have carefully evaluated the automotive and financing landscape across Southeast Asia, and are excited to share our findings.”about the long-term expansion potential in this region. We think Carsome has the ability to spur regional development and transformation as our best partner.

This partnership allows us to continue serving unserved and underserved areas below in Malaysia, a sector that has always been at the center of what we do, said Nicholas Wong, Managing Director of Carsome Capital. We are excited to collaborate with JACCS to develop additional skills and systems, such as AI-driven payment assessments, to make dealers who buy wholesale from us, as well as end-customers who place their trust in our vehicles, more financially able to get financing.

Founded in Hakodate, Japan, in 1954, JACCS is a trusted name in client finance offering options ranging from credit cards to vehicle and cover debts. The business has partnerships with more than 20 automakers.

Established in 2018, Carsome Capital provides a complete range of vehicle financing services, including financial financing for specific buyers, floor property financing for dealerships, and mechanical comprehensive solutions. It makes use of cutting-edge data analytics and machine learning to improve vehicle pricing, inventory management, and credit evaluations, as well as improving risk assessments to better serve ourd and underserved communities.

Continue Reading

Japan Consumer Credit Service takes 49% stake in Carsome Capital for undisclosed sum

By:
On:
In: Technology
    JACCS ‘ experience, solutions may be combined with Carsome Capital’s habitat

  • US$ 225m <strong>given since 2018 </strong>to help 45<strong>k</strong> deals for traders, end-customers

Carsome Group Inc, Southeast Asia’s ( SEA ) largest integrated car e-commerce platform, and JACCS Co, Ltd ( Japan Consumer Credit Service ), a consumer finance company, announced a strategic partnership where JACCS has taken a 49 % stake in Carsome Capital Sdn Bhd with Carsome Group holding 51 %. The acquisition cost was never revealed.

JACCS is a member of Mitsubishi UFJ Financial Group, while Carsome Capital is Carsome’s financing shoulder. Since its inception in 2018 Carsome Capital has disbursed more than US$ 225 million ( RM1 billion ) of financing to support close to 45, 000 transactions for Carsome’s dealers and end-customers.

Since its entry into Vietnam in 2010, JACCS has expanded to the second SEA market.

According to Carsome, the purchase will incorporate JACCS ‘ knowledge and international sources with Carsome Capital’s habitat and regional know-how, in order to offer tailored financing options in Malaysia, with an emphasis on under-served segments.

Additionally, the partnership will accomplish knowledge transfer to improve credit governance, improve risk assessments, and implement best practices that improve portfolio performance and financial sustainability.

Eric Cheng ( pic ), Carsome Group’s co-founder and CEO, said,” Carsome is honored to partner with JACCS, a global consumer finance company, as they mark their entry into Malaysia. By combining JACCS’s considerable experience with Carsome’s ecosystem, we aim to redefine the mobility financing experience, empowering communities and leading financial growth across the region”.

Ryo Murakami ( pic ), the president and representative director of JACCS, stated:” We have carefully evaluated the automotive and financing landscape across Southeast Asia, and are excited to share our findings.”about the long-term growth potential in this region. We think Carsome has the potential to spur regional growth and change as an ideal partner for us.

This collaboration allows us to continue serving unserved and underserved markets here in Malaysia, a segment that has always been at the center of what we do, said Nicholas Wong, Managing Director of Carsome Capital. To expand access to financing for dealers who purchase wholesale inventory from us to support their business as well as for end-customers who put their trust in our vehicles, we are excited to work with JACCS to introduce additional capabilities and technologies, such as AI-driven credit assessments.

Founded in Hakodate, Japan, in 1954, JACCS is a trusted name in consumer finance offering solutions ranging from credit cards to auto and housing loans. The business collaborates with more than 20 automakers.

Established in 2018, Carsome Capital provides a comprehensive range of auto financing services, including retail financing for individual buyers, floor stock financing for dealerships, and automotive insurance solutions. It improves risk assessments to better assist unserved and underserved communities by utilizing advanced data analytics and machine learning to optimize vehicle pricing, inventory management, and credit evaluations.

Continue Reading