Faiz Azmi appointed new SC Malaysia chairman as Awang Adek Hussin retires

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  • Since June 2022, Awang Adek has served for a two-year name.
  • Faiz Azmi is a board member of the SC and previously served as the professional president of PwC.

Faiz Azmi appointed new SC Malaysia chairman as Awang Adek Hussin retires

Awang Adek Hussin will retire as chairman of the Securities Commission Malaysia (SC ) with effect from June 15th, 2024. &nbsp, He will be succeeded by Mohammad Faiz Azmi ( main pic ), former Executive Chairman of PwC Malaysia, who will assume the role on 16 June 2024. &nbsp, &nbsp,

Faiz Azmi appointed new SC Malaysia chairman as Awang Adek Hussin retiresMohammad Faiz has been a part of the SC committee since August 15, 2023, and he has taken that position. Awang Adek ( pic ) thanked the government, including the Ministry of Finance, the capital market sector, and a number of stakeholders for the support they provided him during his two-year tenure, and expressed the hope that Mohammad Faiz will receive the same support. &nbsp,

Awang Adek made a significant contribution to the growth of the Indonesian investment sector, which the SC Board expressed its appreciation for.

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GSER 2024: KL’s startup ecosystem generated UD bil in value over 30 month period from July 21 to Dec 23

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  • KL tagged with strong provincial positions in money, talent, knowledge
  • By 2030, the government reiterates its desire to be one of the top 20 global business communities.

Malaysia's lofty ambitions to be a Top 20 global startup ecosystem by 2030 is symbolised in the hosting of the KL20 Summit in April, that will be an annual event to showcase Kuala Lumpur's development as a fast growing startup ecosystem.
In the most recent Global Startup Ecosystem Report ( GSER ) 2024, Kuala Lumpur’s startup ecosystem is ranked in the top 30 of the Emerging Ecosystems category.

From 1 July 2021 to 31 Dec 2023, Kuala Lumpur generated more than US$ 47 billion ( RM220 billion ) in Ecosystem Value, which measured the city’s economic impact from the value of exits and startup valuations.

The country’s continuing effort to invest and grow the tech company ecosystem is supported by the ecosystem value and accomplishments reported. I would like to acknowledge the contributions and roles of all relevant organizations, ministries, and organizations through the just launched MYStartup Single Window program. Ministry of Science, Technology and Innovation ( MOSTI ) will continue to spearhead this effort to realise our vision to become the top 20 global startup ecosystem by 2030 as outlined in the Malaysia Startup Ecosystem Roadmap ( SUPER ) 2021- 2030″, said Chang Lih Kang, Minister of MOSTI.

GSER 2024: KL’s startup ecosystem generated UD$47 bil in value over 30 month period from July 21 to Dec 23Cradle Fund Sdn Bhd, as the focal point company for Malaysia’s business habitat, lauded the efforts, noting that it is a testament to the work and strategic initiatives undertaken to develop a conducive atmosphere for startups. Companies are viewed by Malaysia as a crucial component of spurring local innovation and technological progress. Cradle aims to bring together all habitat partners ‘ resources and experience. With a consistent commitment to cultivating a high- performing, inclusive, globalised, and sustainable ecosystem, Cradle envisions propelling Malaysia to the forefront of the global startup ecosystem”, said Norman Matthieu Vanhaecke ( pic ), Group CEO of Cradle.

KL is placed outside the Top 40 ecosystems ranking by GSER being lumped in the 21 to 30 rankings within the Emerging Ecosystem category which lists 100 cities/regions.

In the GSER 2024 statement, Kuala Lumpur’s habitat has also achieved significant ranks in several key locations within Asia:

  • Major 15 Asia Ecosystem in Funding: This highlights Kuala Lumpur’s development capacity through solid early- stage funding and lively investor participation.
  • Top 20 Asia Ecosystem in Performance: This determine reflects the environment’s general size and accomplishment, considering the combined price created by software startups through exits and money.
  • Top 20 Asia Ecosystem in Talent &amp, Experience: This ranking acknowledges Kuala Lumpur’s strong long- term trends in crucial performance factors, showcasing the depth of talent and experience in the ecosystem.
  • Top 25 Asia Ecosystem in Affordable Talent: This category measures the city’s ability to attract and hire tech talent cost- effectively, emphasising its competitive advantage in building a skilled workforce.
  • Top 30 Asia Ecosystem in Bang for Buck: This ranking measures the amount of runway tech startups acquire, on average, from a venture capital round.
  • A startup should move to the ecosystem because of its educational credentials and ease of operation.

The GSER 2024, which analyzes data from more than 4.5 million startups across 300 global ecosystems, provides fresh insights into global trends and policy advice to more than 160 economic and innovation ministries as well as public and private entities in over 55 nations.

Among Southeast Asian countries, Singapore’s ecosystem ranked 7th globally with the Top 40 ranking. Jakarta ranked 6th in the Emerging Category which ranks 100 cities/regions where KL was placed in the 21 to 30 grouping. Thailand was in the 71 to 80 grouping with Ho Chin Minh City in the 81 to 90 spot.

To access the Startup Genome Report 2024, please visit https ://startupgenome .com/report/gser2024.

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SC releases inaugural guide on VC and PE in Malaysia

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  • In- detail knowledge to understand policy scenery governing VC/ PE operations
  • Foster a more active secret industry sector in accordance with Capital Market Masterplan 3

SC releases inaugural guide on VC and PE in Malaysia

The first edition of the” Practical Guide on Venture Capital and Private Equity in Malaysia” ( Guide ) was released by the Securities Commission Malaysia (SC ) today and is now available for download.

This guide will help prospective venture capital (VC ) and private equity ( PE ) fund managers, service providers, and investors navigate Malaysia’s restrictive VC and PE operations ‘ policy landscape.

SC releases inaugural guide on VC and PE in MalaysiaThe Practical Guide on VC and PE in Malaysia, according to Dr. Awang Adek Hussin, the president of the SC, is “our commitment to creating a conducive environment for funding and innovation. We want to create a more vibrant group of professional traders to assist entrepreneurs in Malaysia by providing quality on the business landscape for VC and PE firms.

The Indonesian capital market’s alternative financing ecosystem includes both VC and PE. In order to foster promising startups and higher growth enterprises, VC and PE firms are crucial in fostering opportunities for local talent, innovation, and contribute to the expansion of the Indonesian economy.

The Guide’s main topics include information on local money market rules affecting the VC and PE industries, foreign trade policy, tax issues, fund organizing considerations, and other areas crucial to fund operations.

The SC’s efforts to promote a more powerful private business sector are reflected in the publication of the Guide in accordance with the Capital Market Masterplan 3. It will strengthen the capacity of professional fund managers and foster a more active investor base that can support investments into startups and micro, small, and medium-sized ( MSMEs ) with high growth.

This initiative is in line with the SC’s wider efforts to expand market-based financing options for MSMEs and mid-tier companies ( MTCs ).

The Guide also supports the regional KL20 plan, which seeks to establish Malaysia as a leading company ecosystem on a global scale.

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MyCIF fuels nearly US4mil in private investments for Malaysian MSMEs in 2023

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  • Invested RM289 million in 2023, boosting 3, 587 Malaysian SMEs
  • New RM100 million planning in 2024 helps crops, healthcare and education areas

ATA Plus Sdn Bhd is one of the leading ECF platforms in Malaysia.

In a display of support for micro, small, and medium enterprises ( MSMEs ) across Malaysia, the Malaysia Co- Investment Fund ( MyCIF ) has co- invested US$ 61.25 million ( RM289 million ) through alternative financing platforms in 2023. According to the most recent MyCIF Annual Report released in May by the Securities Commission Malaysia (SC), this investment has substantially spurred the development and profitability of 3, 587 Enterprises.

MyCIF fuels nearly US$424mil in private investments for Malaysian MSMEs in 2023MyCIF, established by the Ministry of Finance under Budget 2019, has been a key pressure in the financing environment, utilizing capital fundraising (ECF ) and peer- to- gaze ( P2P ) financing platforms to channel many- needed funds into MSMEs. Commenting on the report, SC Chairman Dr&nbsp, Awang Adek Hussin ( pic ) highlighted MyCIF’s catalytic role, noting that the RM289 million invested last year has attracted nearly US$ 424 million ( RM2 billion ) in private investments.

” The agriculture market, in particular, has seen a significant 86 % increase in lenders supported by MyCIF’s crops system. Also, we have broadened our approach, supporting a higher percentage of MSMEs outside the Klang Valley, increasing from 40 % to 49 % year- on- time”, Awang Adek stated. This development demonstrates MyCIF’s commitment to promoting inclusivity and making sure that MSMEs from all sectors can benefit from these economic initiatives.

Since its founding, MyCIF has received a full allocation of RM250 million from the authorities, properly co- investing RM930 million in over 6, 000 Enterprises. This has generated a 3.7 days multiple effect, drawing in RM3.82 billion in personal assets and bringing the total funds raised with MyCIF’s aid to a remarkable RM4.75 billion. Furthermore, MyCIF has achieved a online good return on investment of RM20.7 million, which is 8.2 % of the total federal allocation.

]RM1 = US$ 0.212]

Looking back, MyCIF has been allocated an extra RM100 million in Budget 2024. This innovative funding will support initiatives in key areas such as agriculture, healthcare, education, culture, society, and Waqf resource development through State Islamic Religious Councils, aligning with the national food security and sustainability agenda.

The recent MyCIF Open Day, attended by Finance Minister II&nbsp, Amir Hamzah Azizan, celebrated MyCIF’s five- year impact on MSMEs. Two additional new incentives, effective until the end of 2025, were also announced at the event that aim to encourage MSMEs in the upstream segments of the agriculture and bio-ecosystem sectors. &nbsp,

These include investments made in eligible P2P campaigns at a 0 % financing rate, as well as the elimination of dividends earned in eligible ECF campaigns. Prime Minister&nbsp, Anwar Ibrahim further extended these incentives to MSMEs involved in Waqf asset development projects, recognizing Waqf’s critical role in enhancing national food security.

The success of MyCIF serves as a pillar of the SC’s 5-year MSME Roadmap, which aims to increase access to the capital market for MSME and mid-tier companies ( MTC ). The main goal is to increase MSME and MTC capital market fundraising by more than 5 fold, from RM6.3 billion in 2023 to RM40.0 billion by 2028. SC Malaysia expressed confidence that MyCIF’s innovative co-investment model will undoubtedly play a crucial role in achieving this ambitious national target because of its proven multiplier effect.

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Indonesia’s solar energy awakening: Overcoming coal dependence through strategic climate Investing

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  • Target 19- 21 % alternative energy by 2030, aided by US$ 20 bil climate finance package
  • AC Ventures sees potential in neglected renewable electricity market, backing companies

An Indonesian open mining site.

For years, Indonesia’s power landscape has been dominated by fuel, a fossil fuel that now accounts for a staggering 60 % of the nation’s electricity mixture. However, a change is on the sky, driven by the need to address climate change and the enormous potential of solar energy in the largest archipelagogue in the world. In November 2022, the Just Energy Transition Partnership ( JETP ) was launched at the G20 Leaders ‘ Summit in Bali, mobilizing an initial US$ 20 billion in public and private financing to decarbonize Indonesia’s energy sector. The nation has revised its ambitious goals to achieve 19 % to 21 % of renewable energy by 2030, a significant improvement over its current dependency on fossil fuels.

One of the main problems is the distant landscape of Indonesia’s off- network areas, with about 40 % scattered across islands beyond Java. It’s unlikely that the national grid will soon achieve most of these locations, which will put pressure on infrastructure development and highlight the need to harness the region’s vast renewable resources. &nbsp,

The promise of renewable energy, a nearly untapped resource in Indonesia, is at the center of this move. The country is a part of a region with staggering technical potential of 17 gigawatts of solar energy, more than 20 occasions the power needed to meet the net-zero emissions destination in 2050, despite having less than 1 % of its power from solar.

” The necessity to do something about culture shift is distinct, mainly in Southeast Asia”, says Helen Wong, Managing Partner at AC Ventures. Part of the issue, in particular, is that there has generally been an overinvestment in fuel, which has resulted in a glut of cheap electricity, “looking at Indonesia.”

Overcoming obstacles

Nevertheless, realizing Indonesia’s renewable electricity potential is not without its problems. Solar energy is still battling it out with subsidies that are still greatly favored by fuel, which is a distorted regulatory framework toward fossil fuels. Also, the state- owned utility company PLN, which manages the grid and serves as the sole off- taker for renewable energy, has been afraid to raise its purchases from renewable sources.

The early retirement of Indonesia’s coal plants, which account for a staggering 60 % of the local energy mix, is a crucial component of the JETP plan. An aggressive ramp-up in renewable investments is required to bridge the unbridled production gap, with a target generation of 36 gigawatts from solar photovoltaics alone, a sevenfold increase from investments in 2018 and 2021.

“PLN is not too keen to actually purchase more solar energy”, explains Wong. ” The grid needs to be upgraded to accommodate more sporadic sources of energy, such as solar, which will require significant investments.”

Despite these obstacles, investors like AC Ventures see immense potential in Indonesia’s solar energy market. Wong notes that the firm often encounters new ventures in three distinct categories: utility- scale projects, which require substantial capital expenditure, commercial and industrial subsectors, where companies can build or lease on- site renewable power plants for self- consumption, and residential projects, which are currently harder to scale.

Commercial and industrial space, according to Wong, is the most promising subsector in Indonesia’s solar energy market right now. Xurya, AC Ventures ‘ portfolio company and the largest player in this sector, is currently providing clean power to multinational corporations with a capacity of around 200 megawatts.

AC Ventures emphasizes important metric when evaluating solar energy projects, such as the internal rate of return and payback periods. Wong points out that subsidies can be beneficial, but that the decline in solar energy costs have resulted in less need for market-different subsidies.

Backing the winners

AC Ventures is optimistic about the potential for creative financing strategies to boost the solar energy sector, such as blended financing models with guarantees from organizations like the World Bank. The company wants to support the companies that succeed in this field by utilizing cutting-edge tools like solar yield optimization technology, trackers, and software to assess rooftop suitability.

” Increased grid connectivity between the nation’s main islands, likely achievable by 2028 at the earliest, is crucial for accelerating broad solar implementation across Indonesia”, Wong notes, emphasizing the over US$ 300 billion needed for renewable energy distribution and transmission upgrades.

We at ACV are eager to support the companies that succeed in this field and contribute to Southeast Asia’s looming energy transition as a whole as investors.

The road ahead

Indonesia’s enormous solar energy potential is an increasingly compelling solution as the country struggles to deal with the urgent need to address climate change and reduce its dependence on coal. With the right investments, regulatory support, and grid upgrades, solar energy could play a pivotal role in Indonesia’s energy transition, helping the country achieve its ambitious renewable energy targets.

For climate investors like AC Ventures, this transition is both a chance to promote sustainable change and a promising investment landscape with potential. By backing the winners in Indonesia’s solar energy market, firms like AC Ventures are positioning themselves at the forefront of a revolution, one that could unlock a brighter, more sustainable future for the nation and the region.

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US-based MKS Instruments to build factory in Malaysia to support wafer fab equipment production

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  • Consumers may be supported both locally and globally.
  • serves clients for a wide range of semicon production needs.
     

Some of the semiconductor solutions from MKS Instruments.

MKS Instruments, Inc, a Massachusetts, US- based NASDAQ listed company of technologies announced that it is set to create a stock in Penang, Malaysia to help chip fabrication equipment production in the region and worldwide. Its first plant in Asia, the plan is to construct the new facility in three phases, with groundbreaking expected to commence in early 2025 said the company which had revenue of US$ 3.62 billion ( RM17.1 billion ) in 2023. No additional information about the purchase devotion was disclosed.

US-based MKS Instruments to build factory in Malaysia to support wafer fab equipment productionDr. John T. C. Lee, President and CEO of MKS, stated that” MKS has a happy history of inventions and discoveries that have shaped the evolution of the key industries we serve.” ” Penang has a strong semiconductor habitat thanks to its close proximity to our customers and suppliers and strong technology infrastructure. As we strive to continue to be a leader in a wide range of semiconductor production programs, our company’s expansion into Malaysia represents a significant step.

The firm, which has three divisions- &nbsp, Vacuum Solutions, &nbsp, Photonics Solutions&nbsp, and&nbsp, Materials Solutions – applies its science and engineering capabilities to produce instruments, subsystems, systems, operation command solutions and specialist chemicals technologies that improve process performance and optimise productivity for customers. &nbsp,

Chow Kon Yeow, Chief Minister of Penang, said,” Aligning with Penang’s passion to move up the international semiconductor value chain, MKS Instruments unlocks opportunities in transistor production, which creates more high- worth job opportunities for the native workforce. I’m pleased that MKS Instruments chose to relocate to Penang, the Silicon Valley of the East, and I look forward to seeing how successful the business is there.

The Malaysian Investment Development Authority ( MIDA ), which is led by Sikh Shamsul Ibrahim, is the country’s growing reputation as a top destination for investments in advanced technology, with the construction of a new facility in Malaysia. This new facility highlights Malaysia’s attractiveness as a strategic hub for innovation and manufacturing, reflecting the company’s confidence in our highly skilled workforce and favourable business environment”.

He added that Malaysia’s rich pool of talent and resources, made it an ideal location for high- tech companies like MKS Instruments to expand their operations. According to MIDA, MKS’ activities will significantly improve Malaysia’s ability to manufacture goods, in line with the New Industrial Master Plan ( NIMP ) 2030, to create a stronger future for Malaysia’s advanced manufacturing sector.

We invite other industry leaders to choose Malaysia as their preferred investment destination and look forward to a fruitful collaboration. Together, we will drive mutual growth and further enhance Malaysia’s rapidly expanding high- tech ecosystem”, said Sikh Shamsul.

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Malaysian startup Deemples raises USmil from Singapore’s V Ventures

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  • Expanded number of active sportsmen by 200 % since last fundraising
  • operating as a two-sided market to grow the golfing community

David Wong, founder of Deemples: "Our core mission is to create the premier golfing experience empowered by tech to allow our community to play anytime, anywhere, with anyone."

Malaysian startup Deemples Technologies Sdn Bhd&nbsp, has raised US$ 2 million ( RM9.58 million ) from Singapore based corporate venture capital firm — V Ventures, to drive its growth and enrich user experience. Deemples has seen its firm twice over each of the past four years in Malaysia thanks to the investment. This funding will help the company’s plans to expand its appearance in Southeast Asia get even more clear.

Our top priority is to provide the best golf experience that can be accessed by technology to help our community to play with anyone at any time, anywhere, and everywhere. With this new funding, Deemples ‘ CEO and founder, David Wong, whose last public money statement was in April 2019, when he closed a US$ 270, 000 round, has set our sights on further enlarging our ecosystem to get really regional with our services and to significantly enhance the golfing community.

Deemples, a company that was founded with the goal of finding golfers for a personal reason, has increased the number of active golfers in Malaysia by 200 % since their most recent fundraising round. Deemples enables golfers to plan their games effortlessly, whether it’s a spontaneous round, a tournament, a club match or a prearranged outing. Deemples caters to the various needs of golfers, improving their overall enjoyment of the game, with its tech-first philosophy and designed-for-golfer approach.

” We will use the funds to build a scalable best- in- class product, with a keen focus on relentless innovation, market fit, and to ultimately expand into untapped markets. This is important to the mission of providing the best borderless golfing experience for our community, enabling golf enthusiasts to connect, play, and enjoy the game, anywhere. In essence, it confirms our commitment to empower golfers everywhere and strengthens our position as a global leader in changing the way people play and play golf outside of borders,” said Deemples ‘ Chief Technology Officer Ahmad Daleen.

Deemples claims that the increased accessibility to golf courses and training facilities has a significant impact on shaping and expanding Malaysia’s golfing community.

Malaysian startup Deemples raises US$2mil from Singapore's V Ventures

Deemples, who operates as the first two-sided marketplace, places a high value on both customers and golf courses by encouraging players to play more frequently, establishing relationships with other golfers, and building a golfing network. This increases user experience, increases revenue, and draws more players to golf courses, all in one way. &nbsp,

Over the past four years, Derek has assisted golf courses in Malaysia in offering a new level of service to both new and existing golfers. We at The Mines Resort and Golf Club were able to quickly launch the platform and begin to receive bookings from their users. Deemples has been a wonderful friend to us and other golf courses. We’re looking forward to what the future holds for the Malaysian golf community, according to Admiral ( rtd ) Mohd Anwar Nor, president of the Malaysian Golf Association and executive chairman of The Mines Resort and Golf Club. &nbsp,

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MOU between Planet QEOS, KIS BIOCNG and SALCRA poised to boost Sarawak’s hydrogen economy

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  • The transition from world QEOS to a go-to energy source that is available to everyone
  • Create bio- hydrogen at decreased cost, utilizing modern tech &amp, nearby resources

(L2R): Raghunath K. R., CEO of KIS BIOCNG Sdn Bhd; Ts Dr. Nurleyna Yunos, Head of Energy Division, Minister of Energy, Environmental and Sustainability Sarawak; Dino Bidari, Chairman, Planet QEOS and Sikin Sentok, SALCRA Deputy General Manager.

A collaborative framework will be established to produce bio-hydrogen through the Steam Biomethane Reforming ( SBMR ) Process, according to Planet QEOS, KIS BIOCNG Sdn Bhd, and the Sarawak Land Consolidation and Rehabilitation Authority ( SALCRA ).

The MoU was signed by Dino Bidari, Executive Chairman of Planet QEOS, Raghunath K. R., CEO of KIS BIOCNG Sdn Bhd, and Sikin Anak Sentok, Deputy General Manager of SALCRA. Abang Jo, Premier of Sarawak, and Dr. Stephen Rundi, Minister for Food Industry, Commodity, and Regional Development Sarawak witnessed the filing.

The MoU laid out the three parties ‘ agreement to create bio-hydrogen using the SBMR process.

    Planet QEOS: Does work as the profile- hydrogen producer, leveraging the superior SBMR Process to produce hydrogen.

  • KIS BIOCNG: Will provide the needed technology for gas and bio- gas production, which serves as the crucial feedstock for the SBMR Process.
  • SALCRA: Will use its current gas production facilities and provide the feedstock for bio-methane production from its hand oil mills.

The main objective is to produce bio-hydrogen that is affordable and sustainable for professional use in Sarawak. The successful completion of this project, according to Planet QEOS, will serve as a standard and proof of concept for using the broad 1.8 million acres of palm oil plantations in Sarawak to produce bio-hydrogen.

This agreement, according to Dino, represents a major advance in our effort to produce bio-hydrogen at a lower cost while utilizing cutting-edge technology and local resources.

We are looking forward to developing the technology needed to produce gas and bio-methane, paving the way for a more environmentally conscious potential, according to Raghunath.

This program, which exemplifies a devotion to the creation of a sustainable palm oil industry, is at the heart of sustainability. It makes sure that palm oil mill waste is used effectively, making it a valuable tool for bio-hydrogen production. This strategy not only reduces waste but also encourages the production of clean, renewable energy, thus strengthening Planet QEOS’ commitment to environmental stewardship.

This action promises to lead to considerable economic benefits as well as the development of a sustainable palm oil business thanks to the transformation of palm oil mill waste into bio-hydrogen, according to Planet QEOS, which is revolutionizing the gas economy with its ground-breaking SBMR technology and vertically integrated design, drastically reducing both capital and operating costs.

It’s important to produce hydrogen at lower costs, according to Planet QEOS, but it’s also important to take a holistic approach that incorporates all aspects of the business, from circulation and distribution to storage. The album of hydrogen gas at an unprecedented wholesale price – under RM20/kg – is just the start, it hints. with a devotion to an extreme annual cost

reductions, Planet QEOS said it is setting the stage for gas to become the head- to power supply, available to all and kind to the world.

The strategic relationship with SALCRA is anticipated to drastically improve the socio-economic standing of rural populations in Sarawak. According to Sikin,” Our involvement in this venture will not only improve the use of waste from our finger oil mills but also boost Sarawak’s rural communities ‘ economic development.”

The problem here is one of system architecture and no technology, said a Planet QEOS director. ” SBMR ( steam biomethane reforming ), or more commonly known as” steam methane reforming,” is a very developed technology that transforms natural gas into hydrogen, which is then used to create ammonia for fertilizers,” the article states.

The SBMR’s smaller size will allow it to be moved closer to far-off places so that it can buy the waste from the mill. &nbsp,

The spokesperson for Planet QEOS said,” It will undoubtedly open up more opportunities for business to look into the possibility of converting biowaste and carbon into biomethane. This will have a spot in the hydrogen economy when we have an efficient and low-cost facility to convert it to hydrogen.”

Stephen stated in expressing his assistance,” This partnership is a testament to our determination to remote economic development and sustainable growth. We anticipate seeing the beneficial effects it will have on Sarawak.

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KPMG identifies top 3 risks to sustainable business growth

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  • International trade restrictions, political uncertainty, and AI management gaps
  • 5 original methods for CEOs to get to understand current “polycrisis” setting

Source: Top risks forecast: Bottom lines for business in 2024 and beyond, KPMG International, June 2024.

International businesses are facing slowing development and mounting challenges to extended- word conservation, according to a fresh report from KPMG International. The findings in KPMG’s Major risks forecast: Bottom lines for business in 2024 and beyond glow a light on the varied, difficult challenges facing companies looking to grow worldwide at a time of increasing divergence on regulation, conflict, technological advancement and social uncertainty.

The analysis of the report highlights the three most pressing risks for businesses right now, known as “bottom lines,” and are likely to have an impact on operations this year and beyond:

    Trade policy restrictions: Global trade restrictions have been on the rise, with approximately 3, 000 restrictions imposed, nearly tripling since 2019. Organizations operating in foreign markets are faced with challenges by this protectionist trade policy trend. These restrictions can lead to supply chains and stifle economic growth and have an impact on market access and supply chains.

  1. Vulnerability calling for operational resilience: The geopolitical landscape is characterized by increasing vulnerability, driven by various factors such as rapid technological advancements, climate change, and geopolitical tensions. In 2023, a staggering 91 countries were involved in some form of conflict, a significant increase from 58 in 2008. This conflict has a significant impact on the global economy, with estimates that it will have a 12.9 percent impact on global GDP.
  2. AI governance gaps: With investments in AI rising more than fivefold between 2013 and 2023, AI has transformed the world. While AI presents immense opportunities, it also brings about governance gaps that organizations must address. &nbsp,

Stefano Moritsch, Global Geopolitics Lead at KPMG International, said:” To some extent, the COVID pandemic was a rehearsal for some of the broader risks and profound threats facing companies today. Leaders have improved their resilience, but for the first time in recent memory, they are facing challenges on a number of fronts, including conflict, complex regulation, climate change, and a “patrickwork” of AI adoption across various countries and regions.

KPMG identifies top 3 risks to sustainable business growthThe rise of trade protectionionism, according to Johan Idris ( pic ), Managing Partner of KPMG in Malaysia, could have an impact on the export-oriented nation’s export-oriented economy, which accounts for 66.1 % of Malaysia’s GDP in 2023. He added that “recent global events have revealed the fragility of the global trade ecosystem and disruptions will continue to impact organizations unable to shore up ample defenses. Business leaders should develop adaptive capacity to increase operational resilience as a strategy. This can be accomplished by using a top-down policy mandate and bottom-up corporate capabilities approach.

He also emphasized Malaysia’s need to navigate the changing landscape of AI governance, which will ensure the responsible integration of this transformative technology into the nation’s economic fabric. Businesses must actively shape their own AI strategies while the Malaysian government is developing a governance and ethics code framework. Any regulatory measures will quickly become outdated as a result of the rapid advancements in AI, so businesses must take the lead in AI governance and integration.

” AI presents a significant opportunity to revolutionize Malaysia’s industries. However, it is equally crucial to establish guidelines that address ethical issues and reduce potential risks associated with AI deployment, Johan added.
For organizations to effectively navigate the current “polycrisis” environment, KPMG’s report outlines five initial steps CEOs can take today:

  1. Conduct a comprehensive risk assessment
  2. Stay informed and monitor geopolitical developments
  3. Diversify supply chains
  4. Enhance operational resilience
  5. Foster strong stakeholder relationships.

KPMG has also created a heat map that examines the impact of the top risks on specific, crucial sectors. The Middle East’s uncertainty and the increasing politicization of access to minerals and other important resources are the main risks, according to the analysis. Second and third place are the financial services and infrastructure sectors, both of which are impacted by growing economic uncertainty and AI governance gaps.

The energy and natural resources sector also had the lowest Financial Performance Index ( FPI ) score among all sectors, according to KPMG’s analysis. KPMG FPI is a global financial health measure based on data from over 40 000 businesses. A lower score indicates that the sector has underperformed and might experience financial instability. This underperformance highlights the urgent need for businesses in this sector to reevaluate their strategies, manage risks effectively, and adapt to changing market conditions in order to improve their financial health.

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MYStartup Pre-Accelerator seeks startups to join Cohort 4

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  • Call for prior- plant, earlier stage startups, applications opened until 23 June
  • The June to September program will be delivered by Watchtower and Friends throttle.

The winners from Cohort 3 are pursuing their dreams now as MYStartup seeks submissions for Cohort 4.

Programs are now available for the fourth incarnation of MYStartup Pre- Accelerator program, which is a collaboration with the Malay business accelerator Watchtower and Friends ( WTF). Applications are available until June 23 for early-stage and pre-seed startups from different sectors with a focus on technology-driven solutions.

The selected startups may be subject to a customized package designed to accelerate development and scale growth during the pre-accelerator program, which will run from June through September. Startup founders may gain access to a wealth of resources, including globe- group coaching and outcome- based curriculum. The top 5 startups will also be eligible for an extensive funding accelerator program, giving them the support they need to achieve beyond the pre-award program.

The Cohort 4 Programme has been properly developed to provide a complete learning experience for early-stage startups over the course of four months. With three lessons per year, each lasting three time, the program covers the following topics:

  • Year 1: Members ‘ Foundations- Aligning inc- leader goals, crafting mission and vision statements, and using Goals.
  • Month 2: Business Model Canvas- Building business models, client profiling, and market analysis.
  • Month 3: Minimum Viable Product ( Application )- Building Teams, resource requirements, and start roadmaps.
  • Week 4: Industry Validation- Pursuing validation study, gathering user comments, and iterating MVPs.
  • Week 5: Earlier- level Fundamentals- Exploring valuations, financing, legal documents, and pitching techniques.
  • Week 6: ESG for Startups- Understanding Sustainable Development Goals ( SDGs ), governance, and aligning startups with SDGs.
  • Participants in this planned program are given the necessary tools and knowledge to create and level successful startups.

MYStartup Pre-Accelerator seeks startups to join Cohort 4

The pre-accelerators program, which is a project of the Ministry of Science, Technology and Innovation ( MOSTI ) and spearheaded by MYStartup, is crucial to the Malaysian startup economy by bridging the gap between innovative ideas and viable businesses to foster a culture of entrepreneurship and innovation.

Companies like Deepsight were successful in launching their product on Google Play and the App Store, and they also signed strategic partnerships, which is a result of the successes of the preceding group. Additionally, startups like Rabt, PropMoth, and PyceHub are in talks to securing potential investments with an estimated value of US$ 318, 000 ( RM1.5 million ), cumulatively.

Applications for the MYStartup Pre- Accelerator Cohort 4 are then invited from companies. Do n’t miss out on the chance to participate in a program that can help your startup reach new heights.

The deadline to use is 23 June 2024. Try here.

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