Merchantrade Money Biz set to challenge corporate credit cards

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  • aims to make price management simpler for a variety of businesses.
  • Promises to be M’sia’s second business prepaid cards, redefining expense management

Merchantrade Money Biz set to challenge corporate credit cards

There are no longer days of “pay & say,” where many hours are squandered with the trouble of mixing personal and professional funds, or insurance delays that raise the risk to employee finances and good governance.

By digitising and automating old processes, Merchantrade Asia Sdn Bhd ( Merchantrade ), a leading innovator in digital financial services, unveiled their Corporate Card, Merchantrade Money Biz, which it claims is Malaysia’s first Visa Business Prepaid Card.

This cutting-edge product aims to make expense management simpler for a variety of businesses, from corporations to SMEs, by enabling them to save time, lower errors, and sustain better control over their finances with a flexible solution.

A multi-currency eWallet-linked expense management portal with functions designed for the modern business are seamlessly combined with a Visa Business Prepaid Card ( with a US$ 10,600 ( RM50, 000 ) cap and unlimited card issuance per company ).

Merchantrade Money Biz set to challenge corporate credit cardsMerchantrade Money Biz’s founder and managing director Ramasamy K. Veeran ( pic ), said the company intends to disrupt traditional corporate credit cards issued by banks. Merchantrade Money Biz helps employees at all levels with business prepaid cards, in contrast to traditional cards made for senior managers. This innovation eliminates the risk of overspending and interest-free transactions, giving employers a powerful expense management system and a viable alternative for businesses unable to obtain classic corporate credit cards.

Improving Global Payments, Multi-Currency app, and Advanced Automation Powered by Visa, the firm prepaid cards can be used by people to make payments worldwide, both online and financial, for various company-related expenses. Additionally, it works with a multi-currency app that enables people to turn up to 20 of the world’s most popular foreign currencies at locked-in costs for international payment. The expense management portal, on the other hand, not only facilitates and digitises business techniques, it also provides 100 % rankings on all purchases and includes robust settings, enabling financing groups to close ebooks faster.

” We are delighted to work with Merchantrade Asia to create the initial prepaid card for Malaysian corporates and SMEs,” said Roy Choudhury Debarun, head of Business and Money Movement Answers for Regional Southeast Asia at Visa. Given that we have seen a double-digit increase in business card spending in Malaysia in comparison to the prior year, this is a timely and relevant solution. This demonstrates the rising need for businesses to adopt cutting-edge repayment methods in the nation. With our global community and in-depth knowledge of bills, Visa is committed to empowering companies. Our partnership with Merchantrade serves as a testament to our desire to promote financial inclusion in the B2B payments industry and promote Malaysia’s continued financial growth.

Over 80 businesses have registered for the option during the captain phase so far, indicating a strong demand for the new product and good reception for it. This demonstrates Merchantrade’s commitment to providing comprehensive online financial solutions that properly address the changing needs of Malaysian businesses.

With new instruments, works, and partnerships in growth, the company is confident the answer will transform the way companies operate. Additionally, Merchantrade’s vision aligns with the government’s push to encourage businesses to digitize their operations and embrace automation in order to create a more cashless society.

For more info, visit https ://www.merchantrademoney .com/business/

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Syed Ahmad Fuqaha believes there’s blue in the red ocean, and, in letting startups fail while it’s cheap

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  • 10th month as&nbsp, businessman with Katsana, an business mobility solutions provider
  • Shutting down a significant item taught difficult lessons about adapting to business challenges.

Syed Ahmad Fuqaha, founder/CEO of Katsana, from row, right, with his team.

” To cultivate fresh companies, you have to let them fail. Let them flunk when they are still on the cheap, soars Syed Ahmad Fuqaha, the founder and CEO of Katsana, who founded it in April 2014. Reflecting on a decade of entrepreneurship, he does n’t mince words about the company ecology:” Currently, there’s almost no street to fail. It’s the epitome of entrepreneurs. Innovation is about failing, failing strong and profitably. If someone wanted to know what the government should be doing, I’d suggest they may provide more chances of failing.

As his business celebrates its 10th anniversary, Fuqaha activists for a dramatic change in how we nurture fresh companies. His message is clear: make more options for startups to neglect quick and inexpensively. It’s a theory that flies in the face of some government initiatives, which Fuqaha, who was a boss with business JomSocial which was sold in 2013 to a Silicon Valley company, &nbsp, sees as extremely safe. In his watch, real innovation thrives on the freedom to take risks, slip, and study from those mistakes. &nbsp,

This counterintuitive approach to developing technology has shaped Fuqaha and Katsana’s voyage from a budding company to a focused business provider offering integrated fleet solutions&nbsp, with&nbsp, over 3, 600 customers, while offering useful lessons for entrepreneurs. Along the way he has raised US$ 1.39 million ( RM6.5 million ) in funding from Axiata’s Digital Innovation Fund ( ADIF ) managed by Intres Capital in 2016&nbsp, and US$ 535, 200 ( RM2.5&nbsp, million ) in&nbsp, venture debt from Malaysian Debt Ventures ( MDV ) in 2022. &nbsp,

Lesson 1: Understand when to cut your loses

Syed Ahmad Fuqaha believes there’s blue in the red ocean, and, in letting startups fail while it’s cheapFuqaha’s words are n’t just rhetoric – they’re born from experience. The rise and fall of DriveMark, one of the bank’s first advances, was perhaps best illustrated by the company’s own trip, which is punctuated by calculated dangers and proper pivots.

A smartphone-based scoring system called DriveMark was created to bridge the gap between driver behavior and insurance premiums. It was intended to promote safer driving. At its peak, it boasted an impressive 80, 000 to 90, 000 users. ” We came up with a solution that is very much scalable, using smartphones”, Fuqaha explains, highlighting the system’s accessibility and initial promise.

However, DriveMark soon encountered challenges unique to the Malaysian market. Malaysian insurance premiums are comparatively low compared to those in the US or the UK, where young or first-time drivers can be exorbitantly expensive. ” In Malaysia, on average, if I’m not mistaken, takaful is around US$ 150 ( RM700 ). For general insurance, the premium is around US$ 192.7 ( RM900 ) on average”.

This pricing structure presented a fundamental challenge to the business model of DriveMark. The majority of users fell into a less exciting category, whereas the top performers with the highest DriveMark scores could receive significant rebates of up to RM160, which were entirely funded by DriveMark. ” For a majority of users, the RM15-RM20 in rebate is just too small to be meaningful”, Fuqaha explains, highlighting the bell curve distribution of benefits.

]RM1 = US$ 0.214]

Ultimately, DriveMark’s business model proved unsustainable. Relying on insurance renewal commissions that averaged only RM70 to RM80 per user, the economics did n’t work out. Two years into the pandemic, Katsana had to make the difficult but necessary decision to stop using DriveMark despite some respectable income. ” We just decided to kill it”, Fuqaha states, acknowledging the need to adapt to market realities

The decision was n’t made hastily. In fact, Katsana spent a year exploring ways to pivot and salvage the technology. After a year of refuting the idea and attempting to convert it to a method for businesses to measure Scope 3 carbon emissions, particularly those involving mobility emissions, we shut DriveMark down in 2022, Fuqaha said. &nbsp,

User privacy and data protection were key components of the process. ” The shut down meant erasure of user data, as we did not want to abuse the consent they gave to DriveMark”, Fuqaha explains. &nbsp,

This decision to shutter DriveMark, while difficult, exemplifies Fuqaha’s philosophy of adapting. As a provider of solutions, Katsana was able to refocus its resources on more promising areas of its business, which ultimately led to a more sustainable enterprise market. &nbsp,

The driveMark experience served as a valuable lesson in Katsana’s decade-long journey, emphasizing the importance of adapting to market conditions and being willing to let go of initiatives that do n’t align with the company’s core strengths or financial viability.

Katsana's latest win was with Universiti Teknikal Malausia Melaka (UTEM) in a partnership with AVIS to equip 10 shuttle buses with a suite of solutions in the KATSANA Fleet Management ecosystem.

Lesson 2: The pandemic pivot: Finding the silver lining

As with businesses worldwide, the Covid-19 pandemic forced Katsana to reevaluate its operations. However, Fuqaha views this disruption as a” silver lining” that allowed the company to sharpen its focus.

Prior to the pandemic, Katsana was active in various telematics-related auto sector. The business also provided fleet management solutions for business clients like bus and taxi drivers, as well as GPS tracking solutions for private vehicles and the RunMark smartphone-based driver scoring system. They were also looking into potential opportunities in the insurance industry, and they were putting their knowledge and technology to use to create usage-based insurance products.

” We had a silver lining from the pandemic,” said the spokesperson. We made the decision to concentrate on the three areas that “made sense for us financially” and to stop providing tracking for private vehicles, Fuqaha said.

While there was money to be made in the private vehicle market, the economics simply did n’t work for Katsana’s high-touch operational model. ” For private vehicles, we have so many competitors out there. Fuqaha explains that there are numerous GPS trackers that can be purchased on Shopee for about RM70.

Katsana would primarily concentrate on its enterprise solutions, particularly fleet management for businesses, as a result of the strategic refocus. This allowed the company to leverage its strengths in developing sophisticated, tailored solutions that go beyond the capabilities of off-the-shelf products.

” What we are doing for enterprises, it makes a lot of sense and it is the best use of our capability”, Fuqaha explains. This change required removing the consumer market and concentrating on larger clients with more complex needs.

By streamlining its offerings, Katsana was able to focus its resources on developing more advanced fleet management solutions, including features for monitoring driver behavior ( building on its DriveMark experience ), vehicle performance, and operational efficiency.

This refocusing made it possible for Katsana to stand out in a noisy market. While many competitors offer white-label solutions from countries like China, Katsana’s intensified focus enabled it to develop unique, high-value offerings for enterprise clients. ” What we do is quite unique”, Fuqaha asserts, highlighting the company’s established expertise in providing sophisticated fleet management tools for larger operations.

Katsana went from being a company spread across multiple market segments to a more focused operation as a result of the pandemic-induced strategic realignment. This change enabled the business to escape the abyss of the pandemic and allowed for more sustainable expansion in the post-pandemic economy.

A Katsana exec installing fleet monitoring equipment on a truck.

Lesson 3: Strategic focus trumps rapid expansion

Fuqaha’s journey has included expanding regional, leading to ongoing projects in Indonesia and Brunei. This expansion predated the pandemic. However, he remains cautious about further expansion. ” It is an interesting proposition, but right now, if you want to have a broader presence over there, it is going to stretch us thin”.

This measured approach to growth demonstrates a maturation that comes from experience. Fuqaha has learned to play to its strengths and keep a laser focus on its core competencies as it continues to serve its existing regional clients as it pursues each opportunity rather than chasing every one.

When the pandemic struck, which presented significant challenges to businesses around the world, this strategic focus proved crucial. Katsana, however, managed to navigate the turbulent times without reducing its workforce, which currently stands at around 45 employees. The company’s resilience stemmed from a combination of its focused strategy and pragmatic decision-making.

” During the pandemic, we made a conscious decision not to hire anymore”, Fuqaha reveals, highlighting the importance of adaptability in times of crisis. He chose a more measured strategy as opposed to fighting against unchecked market forces. He also strategically used government funding, utilizing Malaysian Debt Ventures ‘ Covid Relief Fund for Startup program to boost finances.

Fuqaha was able to weather the storm effectively by maintaining its focus on its core competencies while utilizing government support mechanisms. &nbsp,

Looking to the future: A focused SaaS vision

Katsana enters its second decade with a more in-depth analysis and clearer vision than ever. ” Before the pandemic, we had a lot of things on our plate”, Fuqaha reflects. ” We are now more focused,” she said. No doubt, right before the pandemic, we were on the verge of profitability, even last year we were”.

This transition from a multi-faceted startup to a specialized enterprise solutions provider encapsulates many of the difficulties faced by tech companies in emerging markets. When focus and specialization are what is truly needed, Fuqaha’s story is one of learning to ignore the siren song of diversification.

Looking ahead, Fuqaha has set his sights on transforming Katsana into a Software as a Service ( SaaS ) company. This shift aims to leverage the company’s expertise in fleet management and telematics into a scalable, cloud-based solution. By adopting a SaaS model, Katsana can potentially expand its reach while streamlining its operations and lowering hardware reliance.

Fuqaha says,” We’re developing solutions that are quite unique,” giving a hint as to the sophisticated software features that will make up their SaaS offering’s foundation. This change allows Katsana to compete more effectively both domestically and internationally in line with global trends in enterprise technology.

As Fuqaha approaches his tenth year as a founder, his journey has revealed valuable lessons that could be applied to other startup founders. ” Opt for proven business models,” he advises, noting that red oceans still offer plenty of opportunities for those who understand their market and positioning. Startups are frequently encouraged to chase “blue ocean” opportunities. Red oceans frequently have enough space for multiple providers to coexist, each with their own distinctive offering.

Moreover, Fuqaha emphasizes the importance of nurturing existing customer relationships. The phrase” Existing customers are your best sales channel. Spend time with your current customers to become your supporters rather than just developing new features to make your products more appealing. Meet them at kopitiams, send them greeting cards, set up webinars. These are soft approaches that work”, he advises.

In a sector where many are looking for the next big thing, Katsana has found success by focusing on what it does best: offering top-tier fleet management solutions to businesses that are truly in need while also valuing and developing its existing customer base. After all, with a decade of hard-earned wisdom under its belt, Katsana, in the view of Fuqaha, is well-positioned to navigate the roads ahead, wherever they may lead.

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Coursera 2024 Global Skills Report: Malaysian learners record 806% rise in GenAI enrollments

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  • Malaysia is ranked fourth in Southeast Asia and 12th in APAC in terms of competence proficiency.
  • Millennials lead GenAI adoption at 48 %, followed by GenXers at 32 % &amp, GenZ at 16 %

Coursera 2024 Global Skills Report: Malaysian learners record 806% rise in GenAI enrollments

Back of AI Appreciation Time on 16 July, Coursera, one of the largest online learning platforms, unveiled insight for Malaysia from its 6th annual World Skills Report, based on data from over 148 million international learners and leading financial indices. The report reveals an 806 % year-over-year ( YoY ) increase in enrollments in Generative AI ( GenAI ) courses among Malaysian learners, highlighting their readiness to acquire GenAI skills.

Coursera 2024 Global Skills Report: Malaysian learners record 806% rise in GenAI enrollmentsIt added that in the APAC area, Malaysia ranks 12th in skill ability, and in Southeast Asia, Malaysia ranks third, followed by Thailand, Cambodia, the Philippines, and Myanmar.

Malaysia aims to strengthen its AI ecology through training and research cooperation, supported by activities like the National AI Roadmap 2021-2025 and the AI Talent Roadmap 2024-2033. Important GenAI training gaining acceptance in Malaysia include Google Cloud’s Launch to Generative AI, Google AI Essentials, and Generative AI for Everyone by DeepLearning. AI. These programs underscore Malaysian learners ‘ commitment to keeping pace with technological developments, bolstering the government’s global digital profitability.

In Malaysia, GenAI adoption is generational with millennials leading the reskilling race at 48 %, followed by GenXers at 32 % and GenZ at 16 %, the study indicated. This pattern demonstrates that middle to senior management is reskilling, as demonstrated by significant enrollments in GenAI courses across different age groups and professions: directors ( 25 % ), managerial leadership positions ( 22 % ), junior individual contributors ( 18 % ), executive management ( 18 % ), and interns ( 5 % ). &nbsp,

” The soaring demand for GenAI classes by Malaysian learners on Coursera reinforces their tenacity and forward-thinking nature needed to thrive in a world driven by rapid technological transitions”, said Raghav Gupta, managing producer, Asia Pacific, Coursera. ” As the GenAI revolutionary unfolds, it is impacting the ever-changing work environment, emphasizing the need to engage in individual capital. Malaysia demonstrates a strong synergy between government, industry, academia, and industry to foster the high-demand human and modern skills needed to create a competitive and equitable workforce.

Various studies for Malaysia include:Coursera 2024 Global Skills Report: Malaysian learners record 806% rise in GenAI enrollments

  • Rising demand for industry micro-credentials for digital jobs: The report highlights a 97 % YoY increase in Malaysian learners ‘ enrollments, underscoring the trend that people are increasingly turning to online micro-credentials to find new jobs and advance their careers. &nbsp,
  • Some of the most common entry-level professional credentials among Malay on Coursera are Google Data Analytics, Google Project Management, Google Marketing &amp, E-commerce.
  • &nbsp, Diverse and Inclusive Learning Demography: Malaysia’s learning community is amazingly diverse and inclusive, with girls constituting 46 % of the entire person people.
  • In STEM fields, women account for 34 % of learners, highlighting their growing presence in traditionally male-dominated places. However, &nbsp, in GenAI-related courses, &nbsp, men represent 71 % of learners and women 29 % of learners.

Coursera claims that it now supports the development of 782, 000 Malaysian learners who have taken more than 1.7 million Coursera programs as of March 2024. It added that more than 4, 400 classes are nowadays available in Simplified Chinese, including some of the most common programs in Malaysia, such as Generative AI for All from DeepLearning. AI, Programming for Everybody from the University of Michigan, and What is Data Science? from IBM.

Highlights from International results include:

  • In the midst of ChatGPT, AI education becomes a global essential. As learners sought out foundational AI skills and enrolled in courses like” Prompt Engineering for ChatGPT” by Vanderbilt University and” Introduction to Generative AI” by Google Cloud, GenAI course enrollments on Coursera increased by 1, 060 % globally over the past year.
  • Micro-credentials continue to create learners for in-demand online jobs Learners are increasingly turning to business micro-credentials, including Professional Certificates, to get essential online skills for jobs. The need for visible learning pathways is more urgent than ever as 60 % of workers by 2027 have retraining. Coursera educators are enrolling in job-relevant Professional Certificates to plan for in-demand tasks, such as data experts, job administrators, and IT specialists.

To download the 2024 Coursera Global Skills Report, visit https ://www.coursera.org/skills-reports/global

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SonoBee Ultrasound raises undisclosed funding from Artem Ventures

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  • funding to develop into postnatal care and child items in Malaysia.
  • Teaching arm, DACAS Education to deliver TVET coaching to aspiring sonographers

Low Zhen Hiu, managing partner of Artem Ventures, Jezzlyn Siu, CEO of Sono Group and Chung Kim Wei, associate, Artem Ventures.

Artem Ventures announced its funding, without disclosing the volume, in SonoBee Ultrasound Sdn Bhd, a sonography ring in Malaysia. TIM Ventures and FWD, a Hong Kong-based employer, collaborated on the investment.

Sonography is a medical medical test that uses high-frequency sound tides, or ultrasonic waves, to produce images of tissues, glands, organs, and body or liquids flow within the body. The exam is also referred to as an&nbsp, ultrasound&nbsp, or sonogram.

SonoBee Ultrasound is a company of Sono Holdings Sdn Bhd, which holds about 20 % of the market for sonography and plans to expand into postnatal care and baby items.

” We are very happy to assist Sono’s innovative team as they take on this road of discovery and development. With our purchase, we hope to accelerate the availability of pre-natal and post-natal treatment for Malay provided by highly trained sonographers”, said Low Zhen Hui, Managing Partner of Artem Ventures.

SonoBee Ultrasound raises undisclosed funding from Artem Ventures

Our team has produced expert sonographers and provided crucial prenatal and postnatal solutions to our area, according to Jezzlyn Siu, CEO of Sono Group, which includes DACAS Education, BeBee Baby Food, and BeBee Apps. They also provide the best, most economical ultrasound solutions to over 150, 000 pregnant women annually. Every mother and baby in Malaysia has access to top-notch sonar service and help throughout the prenatal and postnatal years, according to our mission. Our goal is to combine sophisticated technology, thorough education, and compassionate care to enhance health benefits for families nationwide”.

The Group’s training arm, DACAS Education, will also focus on providing technical and vocational education and training ( TVET ) to aspiring sonographers — in line with the government’s recent announcement to produce 100, 000 TVET graduates over the next 5 years. Additionally, the Group will work with the FWD Group to offer takaful insurance to young and growing families in order to close the protection gap in Malaysia.

The three companies under Sono Group.

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Maxis Anugerah Gemilang eKelas student grant programme recognises academic growth through digital learning

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  • Maxis donated 330 refurbished notebooks to 77 universities nationwide
  • Extra students received US$ 320 provides, while major students received US$ 160 grants.

Anugerah Gemilang 2024 winners being celebrated at Menara Maxis with Maxis CEO Goh Seow Eng (10th from left) and Ministry of Education deputy director of the Educational Resources & Technology Division, Pn Fadzliaton Binti Zainudin (6th from right)

Maxis, Malaysia’s top included company, continues to make a positive effect through Maxis eKelas, its flagship group initiative that aims to improve the academic performance of students in rural areas. With more than 120, 000 registered people on its app and growing, the free after-school online learning program has grown steadily.

In recognition of their academic success, Maxis just gave individuals from nine different states in Malaysia Anugerah Gemilang eKelas 2024 offers as part of the program.

The Anugerah Gemilang eKelas grant program, which was launched in 2017, honors individuals who demonstrate significant academic development. In addition to academic changes, individuals are assessed based on cooperation in eKelas actions and contests, as well as their teachers ‘ endorsements on their personal growth and development.

During a meeting held just for the 2024 consumers, the provides were simultaneously presented by Fadzliaton binti Zainudin, assistant director, Educational Resources and Technology Division, Ministry of Education, and Goh Seow Eng, CEO of Maxis. Staff from the Ministry of Education’s Sports, Co-curricular &amp, Arts Division, and the English Language Teaching Centre even attended the ceremony.

” We are glad to acknowledge the contributions made by our Maxis eKelas students in their academic and professional development. Their dedication and hard work inspire us in our efforts to motivate our students through online learning. Through eKelas, we look forward to supporting even more learners on their academic journeys, enabling them to thrive well into the potential”, said Mariam Bevi Batcha, chief business affairs agent, Maxis.

Primary school students were awarded grants worth US$ 160 ( RM750 ) each whilst secondary school students received grants of US$ 320 ( RM1, 500 ) each. The students received potential financial aid to more their knowledge by depositing the particular provides into their National Education Savings Scheme accounts.

Maxis just completed the donation of 330 refurbished devices to 77 primary and secondary schools nationwide in addition to the offers. The efforts aim to increase access to digital learning resources like Maxis eKelas for the student populations of these schools, particularly those in rural areas.

Open to all students nationwide from Time Four to Form Five, Maxis eKelas provides complimentary access to quality training content in line with the Malay college course, focusing on Science, Mathematics, English, Bahasa Melayu and History, as well as experienced understanding. Maxis eKelas joined the Ministry of Education’s online learning site DELIMa next year, extending its reach for all teachers and students nationwide.

Grant victim, Cherrylane Rachell Cornalius, a Variety Four scholar from SMK Tun Fuad Stephens, Sabah said,” I believe that work leads to effects, as a victim of the Anugerah Gemilang eKelas, I am truly more motivated to continue to increase myself”.

Meanwhile, Chong Pohyi, graduate from SMK Tasek Utara, Johor, said” Through participating in this eKelas competitions, I have learnt to overcome my fear of speaking in front of the public. I’m currently enrolled in a matriculation program to continue my tertiary education, and the SSPN grant will undoubtedly help me with my education.

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Melexis opens US.7mil wafer testing site in Malaysia, its largest facility worldwide

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  • Located following to X-FAB’s chip factory, one of Melexis ‘ major manufacturers
  • Advanced energy-saving techniques, solar assembly to produce 30k watt per month

(L 2 R): Dr Malcolm Mussen Lamoh, Deputy International Trade, Industry and Investment Minister; Roland Sagah Wee Inn; Education, Innovation and Talent Development Minister; Melexis chairwoman, Francoise Chombar; Premier Abang Johari Openg; Deputy Premier, Dr Sim Kui Hian; Peter Van Acker, Belgium ambassador to Malaysia; Francis Harden Hollis, Deputy Education, Innovation and Talent Development; and Siva Sundara Raja, Deputy Chief Executive Officer, Investment Promotion & Facilitation, MIDA.

Melexis, a Belgium-based global microelectronics engineering company, has opened a US$ 75.76 million ( RM356.5 million ) wafer testing site, its largest globally, in the city of Kuching, in the East Malaysia state of Sarawak. This development demonstrates Melexis ‘ commitment to boosting its presence in the Asia-Pacific place and meeting the growing demand for electronics.

Marc Biron, CEO of Melexis said,” With an investment of €70 million ( US$ 75.76 million ), this opening underscore the ambition of Melexis and will ensure future growth. With Melexis, we are at the forefront of innovation, and this beginning will help us in the areas that we serve”.

The agency’s 35-year journey to meet the growing global demand for semiconductors, which is expected to double in the next ten years, is marked by the development of its presence in Malaysia. Integrated Circuits ( ICs ) are tested on 90 semiconductor wafer test equipment, including 90 of them. Melexis continues to innovate in border sensors and top drivers aimed at current and future applications in the freedom, conservation, robotics, and heath areas. The development will provide all these applications.

Placing the ability in Kuching, next to X-FAB’s chip factory, one of Melexis ‘ vital suppliers headquartered in Germany, is a strategic move to optimize logistics and help minimize the company’s natural footprint. Also, Kuching boasts a different, multilingual, innovative and skilled workforce, more enhancing recruitment potential.

The Belgian-based Melexis believes that Malaysia’s position in the Southeast Asian region, between the East and the West markets, is effective.

Green and future-proof&nbsp,
The new 4-story structure, which was created by award-winning French engineer Sebastian Mortelmans and Sarawakian architect DNA, is the largest Melexis wafer testing facility in the world. The contemporary style referencing local homestead architecture, incorporates sophisticated energy-saving systems, a solar installation that can make 30, 000 kWh per month, and minimises the climate footprint.

Françoise Chombar, Chairwoman of the Board at Melexis, highlights the significance of the green and future-proof tower, stating,” Our constant search for better solutions led us to this new, wonderful tower that embodies the values of Melexis: development with heart, keeping in mind our people and the planet. We are proud of the building’s sustainability because we have gathered lessons from previous experiences. This expansion confirms our ongoing commitment to our Asian customers and will enable Melexis to meet the steadily growing global demand for semiconductor solutions.

Additionally, like a longhouse, the facility is designed with future expansions in mind, ensuring adaptability and scalability to meet growing demands. It will support Melexis ‘ recent start-up research and development initiatives in Kuching. The building respects local customs and has been designed to promote the well-being of the employees who work there, allowing natural light to flow throughout the large, modular offices as well as the manufacturing areas, and with views of the nearby Sarawak river and Mount Santubong.

Significance of Malaysia&nbsp,
To broaden Melexis ‘ presence in the Asia-Pacific market, Malaysia is an optimal choice geographically, culturally, and economically. Initiatives to grow the semiconductor ecosystem are actively supported by the local Sarawak government and the federal Malaysian government.

Zafrul Aziz, Minister of Investment, Trade, and Industry ( MITI ) said,” The opening of Melexis ‘ largest global wafer testing facility in Sarawak reflects Malaysia’s strong execution of investment projects, while further strengthening the country’s position in the global semiconductor supply chain. As Melexis contributes to Malaysia’s technological advancement, it will also contribute significantly to the socio-economic spillover that will benefit the nearby businesses and communities, making it more inclusive and broad-based in the 2030 New Industrial Master Plan.

The Ministry of International Trade, Industry and Investment ( MINTRED ) Sarawak added,” Melexis has made the right choice to invest in Sama Jaya High Tech Park, Kuching. Sarawak is business-friendly and welcomes investments that can bring about mutual benefits due to its political stability. Sarawak is one of Malaysia’s most popular investment destinations, and it has many advantages over Malaysia in terms of both its strategic location, green energy, its talented workforce, and its suitable land for industrial activities.

Echoing these sentiments, Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO of the Malaysian Investment Development Authority ( MIDA ), stated,” By providing comprehensive assistance, we aim to create a conducive environment for technological growth and sustainability. This includes facilitating the flow of necessary resources and streamlining administrative procedures. We make sure to facilitate Melexis ‘ integration into our ecosystem by ensuring they receive the support they need to prosper and make a significant contribution to our technological landscape.

Looking ahead: innovation and growth&nbsp,
In order to promote regional innovation and growth, Melexis is also looking into expanding its network of partnerships with universities and other partners. The Local Pioneer Talent Program, a collaboration between universities and Sarawak Microelectronics Design ( SMD), a government agency with a focus on research and development, was one of these initiatives that formally launched in 2023.

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Solarvest appoints Daniel Ruppert as chief investment officer to drive investment strategies 

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  • Appointment reaffirms Solarvest’s devotion to its clean energy expenditure strategy
  • has more than 15 years of experience in business administration and investment banks.

Executive director and group CEO of Solarvest, Davis Chong (left) & Daniel Ruppert, chief investment officer, Solarvest

With effect from July 1st, 2024, local clean energy specialist Solarvest Holdings Berhad announced the appointment of Daniel Ruppert as its main investment officer.

The company stated in a statement that this visit confirms its commitment to advance its investment strategy in the clean electricity sector, both regionally and vertically. Through new and brownfield investments throughout Southeast Asia, Solarvest aims to have 1GW of fresh energy assets as part of its five-year plan. This proper visit is expected to expand the group’s international business expansion, further develop Solarvest’s position as a leading clean energy player, and drive innovation in green solutions.

Executive director and team CEO of Solarvest, Davis Chong Chun Shiong, said,” In early 2022, we introduced a five-year strategic strategy with an overarching purpose to spark exponential rise in the renewable energy industry through EPCC, property rights, and the development of a clean energy ecology. To promote this goal, we are delighted to welcome Daniel Ruppert. He will be very important in accelerating Solarvest’s efforts to promote regional leadership and promote green growth across different sectors. Ruppert is a useful addition to our team, positioned to lead our expense initiatives because of his thorough knowledge and active participation in the green energy sector.

Ruppert brings over 15 years of experience in investment banking and business control, with a significant track record in the Technology, Media, Telecommunications, and energy fields. His knowledge will help to guide Solarvest’s investment plans and help it advance its progress trajectory.

I’m honoured to be a part of Solarvest and play a role in driving this change because we are in a very interesting time when the energy transition propels important progress in Southeast Asia. We  intend to diversify with numerous investments in clean energy infrastructure beyond our present solar pipeline, which is 6. 1 GWp. We will welcome administrative and impact investors to meet our growth journey and take part in the economic returns as part of our expense strategy,” Ruppert said. &nbsp,

He added that Solarvest will likewise do co-investment partnerships, mergers and acquisitions, and shared projects. With the company’s proven track record in renewable, he said Solarvest is ready to become a larger person in Asean’s energy system.

Ruppert’s fresh role includes clean electricity property acquisitions, portfolio management, risk management, and proper money planning. He is now looking for Asean location investment opportunities for different clean energy technologies. This encompasses solar, wind, electricity, biogas/biomass, power store, energy efficiency, and the EV habitat.

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CelcomDigi launches US.7mil state-of-the-art AI Experience Centre in boost to innovation ecosystem

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  • Combines emerging technology AI, XR, and Metaverse to promote growth of remedies
  • Component of&nbsp, US$ 53.1mil&nbsp, devotion by Axiata &amp, &nbsp, Telenor to build&nbsp, world-class technology centre

Idham Nawawi, CelcomDigi CEO (5th from left), Fahmi Fadzil (6th from left), Communication Minister, and, Albern Murty (6th from right) CelcomDigi deputy CEO) with partners of its AI Experience Centre (AiX).

CelcomDigi Bhd unveiled its state-of-the-art CelcomDigi AI Experience Center ( AiX ) yesterday, which it describes as a one-stop immersive innovation and collaboration hub designed to inspire, advance, and inspire the development of world-class digital solutions across a range of industries and verticals. As part of the value Malaysia can expect from the 2022 merger between Telenor owned Digi and Axiata’s Celcom, the two sides committed to a US$ 53.13 million ( RM250 million ) investment&nbsp, to build a world-class innovation centre in Malaysia over five years. &nbsp, The AiX is part of the promise to deliver on this.

Supported by a wide ecosystem of leading global technology players and local partners who, together with CelcomDigi have invested a total ofUS$ 11.68 million ( RM55 million ) into the centre, AiX will serve as a focal point for cross-industry collaborations, leveraging emerging technologies such as 5G, Artificial Intelligence ( AI), Extended Reality (XR ), Robotics, Analytics and Metaverse. This creative facility is designed to drive fast technologies advancements and growth of new online startups, enterprises, and potential skills to build a burgeoning development ecosystem and fuel Malaysia’s digital transformation.

Launched by the Minister of Communications, Fahmi Fadzil, AiX provides an interactive experience combining look, sound, and feel, and functions real-world options ready for immediate deployment. The technologies and showcases may be updated regularly to provide new experiences to visitors and are built on a unit of continuous development and partnership. They are also set to be the epicenter of co-creation to facilitate quick experimentation and development of new technology solutions for the market.

Emerging technologies like AI are revolutionizing the world, and Malaysia may keep up with this development in order to create a prosperous online nation, according to Idham Nawawi, CEO of CelcomDigi. We made a strong determination to play a crucial role in the achievement of this goal more than 1.5 years ago by leveraging our greater combined abilities as a combined business to invest and promote digitalization, development, and green development for the country.

The AiX is seen as a realization of the federal benefit of Celcom-Digi’s 2022 acquisition, where their combined scale and capabilities you partner with international and regional modern tech giants to advance the creation of cutting-edge online solutions, making it a powerful ally to Malaysia’s online aspirations.

A thriving innovation ecosystem is crucial to the creation of a robust digital society, says AIX. In the fast-paced era of digital everything, speed of innovation is essential. We have therefore created AiX based on a model of strong partnerships and constant evolution, enabling us to co-create use cases for Malaysia with great potential at an accelerated pace. Together we have invested RM55 million to support this endeavor, said Idham, working with some of the most notable global tech and local ecosystem players.

He adds that CelcomDigi will continue to invest in the infrastructure, partnerships, and competencies needed to help Malaysia through its rapid technological advancements. The telco is determined to promote digital transformations across sectors and ensure that all Malaysians can benefit from the advantages of 5G, AI, and emerging technologies.

BoomGrow's Agritech solution is on display at the AI Experience Centre. Daniel Nesan (front), Head of Plant Science, BoomGrow with Fahmi and Idham.

Interactive simulations of solutions for a digital society

Located at CelcomDigi Hub in Subang Jaya’s Hi-Tech Park ( Digi’s previous headquarters ), AiX houses two main inspiring spaces called The Infinity and The Gallery.

The former is designed to provide visitors with immersive, interactive experiences of digital society simulations using cutting-edge audio-visual technology. To illustrate the transformative potential of emerging technologies, which are essential to enterprise growth, the Gallery space showcases a physical array of real-world industrial use-cases. These respective simulations display a range of 5G and AI-powered technologies and robotics across eight verticals namely manufacturing, logistics, energy, fleet, port, healthcare, education and agritech. 13 of the 45 solutions exhibited in the eight verticals are live use cases being tested with businesses in Malaysia.

AiX is also home to AI-RA, the first AI digital human and resident co-host of the centre’s immersive tours. While AI-RA interacts with visitors and explains the diverse use cases on display, she is accompanied by a family of autonomous robotics who perform a diverse range of tasks including perimeter surveillance, delivery of goods, entertainment, and personal assistance, demonstrating the power of combining AI and robotics to improve convenience for work, life, and play.

AiX also houses a collaborative space that serves as a cutting-edge live lab environment for interested parties- from startups to large-scale enterprises, and from academia to government- to co-create, test, and validate new solutions that pair 5G with other emerging technologies.

Build on a partnership model, AiX is powered by a strong, extensive and growing ecosystem of 40 global technology leaders, local partners and solution providers, from core partners Huawei and ZTE, to other collaborative partners AWS, Digital Nasional Bhd, Ericsson, Microsoft, SK Telecom, Softbank, Sumitomo, and Yinson, among others.

AiX will be accessible to visitors on a regular basis. To explore the potential of the digital society through immersive and interactive exhibits, technology and business partners, academia, government agencies, and corporate organizations are invited to visit the AiX.

AiX’s use cases will be updated on a regular basis to give visitors a better experience and allow co-creators to test the most recent technologies in keeping with the dynamism of the tech sector. Schedule a visit to learn how the CelcomDigi AI Experience Centre can inspire and advance Malaysia’s digital transformation at]email&nbsp, protected].

Fahmi getting a feel for robotics. Will his constituency service centre at Pandai Dalam (Bangsar South) see such a robot welcome constituents in the future? On the right is Kugan Thirunavakarasu CelcomDigi's Chief Innovation Officer.

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TNG eWallet launches GOfinance, an all-in-one financial hub for convenience and accessibility

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  • Aims to reduce economic management, offer users handle over their finances.
  • Allows users to control insurance coverage, optimise their expense portfolio

TNG eWallet launches GOfinance, an all-in-one financial hub for convenience and accessibility

TNG Digital Sdn. Bhd. ( TNG Digital ) announced the launch of GOfinance, an all-in-one financial hub within its TNG eWallet. This revolutionary hub is designed to promote financial independence, giving users complete control over their financial goals and well-being, according to the included finance player in a declaration.

It said GOfinance democratises accessibility to financial services by bringing together major financial products and providers, offering a wide range of competitive options such as funding, insurance, credit score control, payment, and a new money flow tracking feature. Through a completely digital and user-friendly process, this inclusivity lowers entry barriers and makes access to high-quality monetary services more accessible to everyone.

Alan Ni, CEO of TNG Digital, state,” GOfinance is a major milestone in our quest to drive economic autonomy in Malaysia. We give customers a complete range of financial options at their fingers by leveraging technology and innovation within the TNG app as well as geopolitical alliances. Our goal is to make economic management simpler by giving users more control and a better understanding of their money.

TNG app is trusted by 5.4 million people to manage their finances, including comprehensive and opportunities. With GOfinance, the goal is to promote greater implementation of financial services products available and raise awareness and education by improving customer experience and promoting greater implementation of them, with the aim of empowering Malaysians to be able to easily take control of their finances.

TNG eWallet launches GOfinance, an all-in-one financial hub for convenience and accessibilityUsers of TNG app have access to convenient and affordable payment services to more than 50 countries within GOfinance, maintain their insurance coverage, and monitor and optimize their investment portfolios. Users of the Touch’n Get eWallet Visa Card can also use the Touch’n Go eWallet Card to stay on top of their credit standing by purchasing credit scores and have greater flexibility with their eWallet balances.

Users of GOfinance’s cost scanning tool can monitor and finances their spending within the paytm, providing insightful insights into their financial habits. People you actively manage their financial health and make informed decisions by visualizing their spending habits. In conjunction with GOrewards, GOfinance encourages users to make the financial services they need, forming a useful cycle of financial control and rewards.

According to TNG Digital, the release of GOfinance signifies a step up in economic management, bringing comfort, convenience, and independence to thousands of Malaysians. With the launch of GOfinance, the company offers more than just a complete hub for electric financial companies. Coupled with the” Your Cash, Your Rule” plan, which will create a series of financial-related information and offerings, TNG Digital aims to motivate individuals to take greater control of their financial goals. This initiative was carefully thought out to improve their overall financial security and make them live richer, more fulfilling lives.

To learn more about GOfinance within TNG eWallet, visit https ://www.touchngo.com.my/ewallet/gofinance

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SIDC launches new certification programme in sustainable and responsible investment for the capital market

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  • aims to improve SRI’s skills and combat ability shortages.
  • SRI money hold RM7.7 billion in net asset value at close 2023&nbsp, &nbsp, &nbsp, &nbsp, &nbsp,

L-R, Tunku Alizakri Alia, chairman, MAVCAP; Mohammad Faiz Azmi, chairman, Securities Commission Malaysia; Lim Hui Ying, deputy minister of Finance; Abdul Wahid Omar, chairman, Bursa Malaysia; Tengku Zarina Tengku Chik, CEO, SIDC. 

A new certification program is being developed by the Securities Industry Development Corporation ( SIDC ) and is intended for professionals in the financial and capital markets. The goal of the Licensed Capital Market Professional in Sustainable and Responsible Investment (CCMP- South ) qualification is to raise the bar for competence of professionals in the investment market in response to the growing demand for responsible and accountable investment.

According to SIDC, there were 68 sustainable and responsible investment ( SRI ) funds in Malaysia with net asset value of US$ 1.63 billion ( RM7.7 billion ) as of December 2023, a significant increase from just seven SRI funds in 2020 with net asset value of US$ 309 million ( RM1.46 billion ), citing the Securities Commission Malaysia’s annual reports.

” Over the past few years, there have been more responsible and accountable investments in Malaysia, and a number of green jobs have been put in place. According to Tengku Zarina Tengku Chik, CEO of SIDC, there is a growing need for experts who can effectively help and guide in responsible and accountable purchase goods.

In addition to completing a range of e-learning, webinars, workshops, and collaborative learning sessions, the CCMP-SRI certification program does combine education, webinars, workshops, and collaborative learning sessions to prepare graduates for positions that demand an understanding of both the overall effect of expense on society and the environment as well as the broader impact of investment.

” Ability shortages current major challenges across several aspects of nation- building, particularly in our goals towards sustainability. Malaysia has continue to expand access to capacity-building initiatives that are related to conservation. At the launch of the new certification program, Lim Hui Ying, deputy minister of finance, said,” We need all participants in our ecology to work together to make our labor ‘vibe-ready’ in sustainable funding features.

The development of the new certification program was aided by 74 industry experts, including members of the Curriculum Review Committee and the Assessment Review Committee. They are mapped to SIDC’s Industry Competency Framework ( ICF).

There are two constructed levels for the CCMP-SRI. The CCMP- SRI1 level is intended for professionals who want to advance their knowledge of SRI and lasting development in Malaysia’s capital market. The next stage, CCMP- SRI2, is for professionals with basic sustainability and SRI skills, aiming to enhance their knowledge in revolutionary sustainability development, ESG structuring, ESG and SRI structuring.

More details can be found at website. sidc.com. my/attend/ccmp- sri1/&nbsp, &nbsp, &nbsp, &nbsp, &nbsp, &nbsp, &nbsp,

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