Ant International picks Malaysia for its Digital Business Centre, hiring 500 with eye to grow ‘huge operations centre’

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  • Multi- tribal culture coupled with skill, cost based, friendly policies important draw
  • Give companies from all 4 key columns of Ant International’s company to worldwide customers

(From left): Nina Xiao, HR Director of Ant International; Douglas Feagin, President of Ant International; Nik Naharudin, Director, Digital Talent & Entrepreneurship, Digital Industry Acceleration Division, MDEC; Nik Hishamuddin, Head (Tertiary), Digital Talent & Entrepreneurship Department, Digital Industry Acceleration Division, MDEC.

If you thought the release of five online banks last year had stirred up the competition for blockchain talent in Malaysia, then reconsider.

With the statement in KL on April 19 from Singapore-based Ant International, which Alibaba founded in 2012 and currently owns a 33 % stake in, that it plans to establish a online business center in Malaysia with a staff of 500 executives by 2025 and plans for ongoing getting into 2028, the competition really got a lot more cooked.

The majority of the roles will be tech and knowledge focused, with the biggest team being the Technology and Development department composed of software engineers, followed by product &amp, design ( UX, UI, product design ), data science, business development, finance, management, and risk control.

For each of these agencies, Ant International is bringing in a whole set of responsibilities said Nina Xiao, HR Director of Ant International. For example, in data research it will have data technology and modelling, risk data, business data and operating data expertise. ” So that’s to say that we mean it for real. We are bringing in all the features for the center here in Malaysia”, she stressed.

While there are many places where Ant International may have chosen to have a Digital Business Center, Malaysia is not only juicy with skills and opportunities but it also has quite forward-looking policies, and a government that supports the development of a digital market, Douglas Feagin, chairman of Ant International, explained why the Singapore-based international business arm of the Hangzhou based Ant Group Ptd Ltd. had chosen Malaysia for this expansion.

The country’s multi- ethnic culture fabric is another strong draw, compared to other markets said Xiao,” So that’s why I think, if we’re setting up our global centers, Malaysia could be one of the destinations as (our ) people who are coming here wo n’t feel it’s so difficult to blend in”.

aims to construct a massive operations center in Malaysia

Feagin says Ant International wants to establish” a huge operations center in Malaysia” over the next 10 to 20 years, starting with the 500 executive officers the company is ready to hire right away, while expressing confidence in their investment in Malaysia, where it sees “huge long term growth.”

To be clear, the center in Malaysia is not specialized in serving customers from Malaysia or Southeast Asia. It will be handling customers from all over the world with the long-term growth that Ant International anticipates coming from the early stages of adoption of both digital payments and business digitization, with Ant International developing the tools to assist businesses in adopting digital. &nbsp,

Without disclosing the investment amount, Feagin stressed that Ant International will be investing a lot,” and that’s both the initial investment, then the ongoing investment”.

It helps that Southeast Asia makes up the largest portion of Ant International’s global business, said Feagin. While Ant International has also expanded in Singapore, moving into larger premises last year, Malaysia, with its combination of talent, world class infrastructure, strong digital economy push and cost advantage, is where the action is going to be for the group, which has confirmed that it will be moving into the premium Exchange 106 tower ( formerly known as TRX Signature Tower ).

This Malaysian center will be where we have the most people and be a core engine of our growth, Feagin said. Here, we will represent all of our various business ventures.

By all, he means the four key pillars of Ant International’s business:

    Cross-border mobile payment service Alipay , which connects over 88 million merchants to 1.5 billion consumer accounts on over 25 e-wallets and banking apps in 57 nations and regions, enables customers to travel and make payments worry-free across borders, and allows retailers to develop cross-border consumer engagement and digital marketing. Alipay is integrated with Malaysia’s national QR, DuitNow QR.

  • Antom Merchant Payment Services, a service that assists global retailers in digital communication with customers in Asia and the world.
  • With its World Account, WorldFirst has created a digital payment and financial service for cross-border trade SMEs, helping over 1 million SMEs expand internationally. By 2024, it plans to serve Malaysian SMEs.
  • The Monetary Authority of Singapore regulates ANEXT Bank, a digital wholesale bank focused on providing SMEs with simple, affordable financial services.

According to Mahadhir Aziz, CEO of Malaysia Digital Economy Corporation ( MDEC ),” The opening of the new Digital Business Center in Malaysia plays an important role for local tech talent to thrive in the digital industry.” He added that Ant International’s decision will also lead to the creation of investment opportunities and “position Malaysia as the digital hub of ASEAN.”

Career development for young talent

In order to support its aggressive hiring plans, Ant International intends to work with local partners to develop the tech talent it needs, including through initiatives like its 10×1000 online platform, an open and global learning community, and to foster and inspire future digital leaders through &nbsp, mentorship exposure with Ant International’s leaders. It has trained 120 people in the nation over the past few years, with the aid of partners like MDEC, TNG Digital, and the Fintech Association of Malaysia, with the help of pf partners like TNG Digital and the Fintech Association of Malaysia, with 33 % of those being female.

Additionally, it is laying out the welcome mat for recent graduates and interns with Xiao, highlighting the strong culture at Ant International and the company’s potential for rapid career growth as the company develops. She points to the company’s chief technology officer. She continued,” He started with us over ten years ago and is now the CTO,” noting that this is not an isolated example because many of its key technology leaders today started out as fresh graduates who grew with the business.

The business also fosters a culture of sharing experience. For each newcomer, we’ll pair them with an experienced senior as their buddy to give them daily guidance and professional career advice to ease them into the new working environment and learn quickly, Xiao said.

” Those who join our team will have a front row seat to global fintech innovation and collaborations, and they will play a role in our mission to influence the future of fintech and commerce,” said Feagin.

He expressed his excitement at the prospect of launching a new chapter of Ant International’s Journey in Malaysia, where they have contributed for the past ten years.

With the Malaysian government encouraging the development of tech skills and positioning Malaysia as an innovation hub,” We are now looking forward to a future that is more global, more connected, and more inclusive.” We think that working with partners like MDEC can significantly increase the impact our local tech talents can have both globally and locally.

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TTM Technologies celebrates grand opening of its first manufacturing facility  in Penang 

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  • Aims to create 1, 000 work for local skills by 2025
  • New flower expected to generate around US$ 180 million by 2025.

Officiating the Grand Opening Ceremony of TTM Technologies Malaysia Facility (from left to right) Mr. Douglas Soder, Executive Vice President and President of Commercial Sector, TTM Technologies, Inc.; Teik Ming Ng, vice president and general manager, TTM Technologies Malaysia Sdn Bhd; Najihah Abas, executive director, Investment Promotion of MIDA; Chow Kon Yeow, chief minister of Penang; Loo Lee Lian, CEO, InvestPenang; Thomas Edman, president, and CEO, TTM Technologies, Inc., and Philip Titterton, executive vice president and chief operating officer, TTM Technologies, Inc.

TTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency ( RF ) components and RF microwave/microelectronic assemblies, and quick- turn and technologically advanced printed circuit boards (PCBs ), has officially opened its first manufacturing plant in Penang, Malaysia with an investment of US$ 200 million ( RM958 million ).

Built on 27 acres in Penang Science Park, the firm’s condition- of- the- art facility boasts extremely impressive and integrated PCB manufacturing capabilities. The near collaboration between TTM and its customers has led to this job, which seeks to address the growing need for Circuit supply chain resilience and physical producing diversity. &nbsp,

TTM added that the herb is customised to help large production requirements in various business finish markets, including network, data centre computing, medical, professional, and instrumentation.

The chief minister of Penang, Chow Kon Yeow, stated,” Penang is proud to be the place where TTM’s first large-scale, highly automated, and modern Board manufacturing plant is set up in Southeast Asia. This also indicates the assurance that foreign traders have placed in the state.”

He continued,” Penang has the abilities and capabilities to meet the needs of professional players in next-generation technologies and development strategies. It is frequently praised for its well-developed technological ecosystem. I’m confident that TTM’s activity in Penang, the Silicon Valley of the East, may have a number of advantages.

Chow Kon Yeow, Pn., presided over the standard opening ceremony for TTM’s Penang flower. Najihah Abas, executive director, Investment Promotion of Malaysian Investment Development Authority ( MIDA ), Loo Lee Lian, CEO, InvestPenang, Thomas Edman, president, and CEO, TTM Technologies, Inc., Philip Titterton, executive vice president and chief operating officer, TTM Technologies, Inc., senior government officials, and TTM’s senior management.

By 2025, TTM’s Penang plant will enable the creation of about 1, 000 job opportunities for local talent in a variety of industries. The expansion will support cultivate the skills of native professional talent in cutting-edge PCB technology solutions and may lead to significant opportunities for TTM’s local suppliers.

TTM anticipates that the fresh plant may produce full move level income of about US$ 180 million ( RM855 million ) by 2025. However, the plant is built to help a Step two rise that could result in a 25 cent increase. &nbsp, &nbsp,

Sikh Shamsul Ibrahim Sikh Abdul Majid, CEO, MIDA emphasised,” It brings me great pleasure to underscore the significant benefits TTM Technologies ‘ investment brings to Malaysia’s electrical and electronics ( E&amp, E) industry, especially within the semiconductor sector. Malaysia is now a significant player in the global semiconductor supply ring thanks to TTM’s skills in high-tech options and advanced printed circuit boards.

He added that TTM’s center in Penang improves Malaysia’s E& E industry’s capacity for growth and endurance as well as its ability to compete with other countries for the next generation of Circuit manufacturing.

This growth, which focuses on strengthening the silicon habitat, perfectly corresponds with the strategic priorities outlined in the New Industrial Master Plan 2030. It opens avenues for skill enhancement and information sharing among native talents, reinforcing Malaysia’s stature on the world stage as a dynamic, technologically advanced nation”, Sikh Shamsul said.TTM Technologies celebrates grand opening of its first manufacturing facility  in Penang 

Meanwhile, Thomas Edman ( pic ) commented,” The opening of our flagship plant in Penang marks a significant milestone for TTM. With a state-of-the-art facility that underscores our commitment to providing our customers with specialized advanced technology PCB solutions on a global scale, we are thrilled to begin this expansion plan.

He added,” As we step into this new era of innovation and expansion, we are committed to elevating industry standards, meeting customer needs, and propelling TTM’s growth as a new contributor to the Malaysian economy”.

” Penang’s strong industrial eco-system, position as the hub for electrical and electronic equipment, strong talent pool, and conducive business environment have made it a preferred location for TTM,” said Penang. Only two years after our initial ground-breaking, TTM is now entering our production ramp due to the outstanding support of the government and the efforts of our employees. As TTM builds our presence in Penang, we eagerly anticipate a longstanding relationship and mutually rewarding partnership with the Malaysian government, our customers, and our critical vendors”, Edman said.

Besides contributing to the industry’s needs, TTM is strongly committed to protecting its staff, community, customers, and the environment. The new facility’s goal is to advance its sustainability efforts by reducing the amount of energy and water used while still adhering to stringent environmental operational requirements. It will also reduce the carbon footprint by 60 % when compared to a traditional PCB plant.

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Petronas, CelcomDigi collaborate to advance 5G techno-digital transformation and sustainability for the energy sector

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  • Collaboration aims to connect clean energy options into CelcomDigi’s products
  • Both parties to look into 5G-enabled techno-digital initiatives to enhance Petronas ‘ activities.

(From Left) Sy Malek Faisal Sy Mohamad, Gentari head of Renewables for Malaysia and SEA; Aadrin Azly, PETRONAS group technology and commercialisation vice president; Albern Murty, CelcomDigi’s Deputy CEO; Mohd Yusri Mohamed Yusof, PETRONAS Project Delivery and Technology senior vice president; Shah Yang Razalli, Gentari Deputy CEO; Afizulazha Abdullah, CelcomDigi’s chief enterprise business officer, at the MoU signing ceremony.

Using the power of 5G, Petronas and CelcomDigi are collaborating to accelerate efforts to address conservation and modern change for the energy sector.

The partnership was formalised through a Memorandum of Understanding signed by Petronas Vice President of Group Technology and Commercialisation, Aadrin Azly, CelcomDigi’s Deputy CEO, Albern Murty, and Gentari’s Deputy CEO and CEO of Gentari Green Mobility, Shah Yang Razalli. Petronas’s Senior Vice President of Project Delivery and Technology, Mohd Yusri Mohamed Yusof, was likewise present at the filing service.

The strategic partnership will look at potential techno-digital business initiatives using 5G technology over the course of two years to ensure constant improvement of Petronas ‘ businesses. Moreover, it will look into merging clean power solutions into CelcomDigi’s business offerings to generate adoption among Indonesian businesses.

According to Aadrin Azly,” Petronas plays a significant role in supporting the national systems agenda to strengthen Malaysia’s foreign standing in innovation.” Last time, we pioneered the use of 5G systems for business in Malaysia, and our activities were made more efficient.

He continued,” This association gives us a fantastic opportunity to increase the power of 5G for our business and the society as a whole.” To meet the growing need for credible high-speed internet access in the oil and gas industry, we propose creating a strong network infrastructure.

However, CelcomDigi’s Albern Murty said,” The MoU presents an opportunity to promote the reform of oil and gas businesses powered by 5G communication. We have collaborated attentively with Petronas over the past five years to test digital use cases and implement personal 4G LTE networks on onshore platforms. Collectively, we have realised useful online applications for rig operations, for example, what used to be an edge test case of ‘ connected rig workers’ is today a must- have to keep rig workers creative and secure” .&nbsp,

He continued,” We look forward to scaling 5G-related changes across other business regions, utilizing real-time communication and information analytics to optimize operations and actualize our shared clean electricity aspirations for the oil and gas sector.”

Since implementing the first personal 4G LTE channel on Angsi, one of the largest offshore programs for the company, Petronas and CelcomDigi have a long-standing relationship going back to 2019. Since then, the collaboration has resulted in 21 fully 4G connected offshore platforms. Additionally, both parties have worked together to improve and optimize connectivity infrastructures in Petronas plants, enabling consistent connectivity to power digital solutions that increase operational efficiency.

The first fully functional private 5G network has been deployed on Petronas ‘ flagship offshore platform, Kasawari Carbon Capture and Storage, near Sarawak, according to the most recent project. Leveraging 5G and best practices in oil and gas solutions, Kasawari will be a test bed for 5G use cases, activating more digital innovations. Successful use cases can be adopted for other connected offshore platforms, paving the way for Petronas to quickly modernize its operations and adopt new sustainability practices, building on the solid foundation of the last five years of private network deployment.

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MRANTI inks MOU with Zhongguancun Science Park in China

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  • The purpose of this project is to promote technological advancement and creativity in Malaysia.
  • Events commit to five strategic activities designed to promote reciprocal exchange.

(from Left): Wang Chongwu, Level-4 Researcher of Zhongguancun Science City Administrative Committee; Wang Tonghui, Executive Director of ZGC Science City LTD; Yao Hongbo, General Manager of ZGC Science City LTD; Chang Lih Kang, Minister of Science, Technology and Innovation, Mosti; Ts. Dr. Mohd Nor Azman Hassan, Deputy Secretary General (Technology Development), Mosti; Dr Rais Hussin, Chief Executive Officer, MRANTI; and Prof Dr Rofina Yasmin Othman, Chairman MRANTI.

Clearly Malaysian innovation agency, MRANTI’s visit last Dec to China’s leading science, technology and innovation hub, Zhongguancun Science Park ( Z- Park ), left an indelible impression on Dr Rais Hussin, CEO of MRANTI as he led another delegation to Beijing, China, where Z- Park is located to sign an MOU today with the Beijing Zhongguancun Science City Innovation Development Co Ltd witnessed by Chang Lih Kang, Minister of Science, Technology and Innovation ( MOSTI).

The two organizations have agreed to five strategic initiatives in accordance with the MoU’s conditions that aim to encourage significant technological and technology advancements. The five engagement areas are:

    Establish a powerful technique for personnel markets to leverage each other’s experiences when managing Science and Technology parks. This partnership is anticipated to encourage reciprocal learning and development and increase the application of best practices.

  1. Education and seminars: Enhancing innovative capabilities, constructing strong technology ecosystems, incubating tech businesses, and transforming scientific research into business success.
  2. Common benchmarking and a knowledge visit system: To promote immediate interactions and cooperative endeavors between businesses from both nations and to promote business collaboration and market expansion through planned visits.
  3. Creative research: By combining the strengths of both entities, the program aims to address global challenges and obtain business- redefining breakthroughs.
  4. Soft-landing services for industry entry: Both organizations may offer soft-landing services that will enable businesses to understand new opportunities with greater ease and confidence.

” This engagement underscores the deepening collaboration between Malaysia and China, especially in the critical fields of technology, engineering, and innovation”, said Chang.

The Minister further underscored the broad approach of the agreement, adding,” We are eager to expand our cooperation across different sectors, including connectedness, the online business, the natural economy, present agriculture, and biomedicine. This reflects our complementary goals and our ability to make significant headway up.

Rais argued that cooperation is necessary to provide access to capital, business, skill, and innovation for both Malaysia and China.

” For Malaysia, the ability to access the vast Chinese business, access to funding/capital through the 80 rainbows in Zhongguancun Science Park, and not to mention the highly developed skills and creativity that can have a significant impact on the country and culture. Exciting times ahead indeed”, Rais added.

Zhongguancun Science Park is home to nearly 22, 000 high- tech companies, with an average of 90 new businesses being created each day. Global companies such as Lenovo, Baidu, Xiaomi and Beigene started up from there, as did over 80 Unicorn companies such as Toutiao, Mggvii and Cambricon. Over 200 branches and R&amp, D centres of the world’s Top 500 companies have offices there as well.

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Under Endeavor Malaysia umbrella, Janio secures a spot at Endeavor’s 98th International Selection Panel 

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  • ISP provides a platform for companies to gain access to resources, coaching
  • Initiative supports 25 businesses through the ISP, confirming its dedication to fostering innovative growth.

Under Endeavor Malaysia umbrella, Janio secures a spot at Endeavor’s 98th International Selection Panel 

In a stride towards global influence and expansion, logistics startup, Janio achieves a milestone as its co- founder and CEO, Ng Jun Kai ( pic ) &nbsp, attains the status of Endeavor Entrepreneur at the 98th International Selection Panel ( ISP) held from March 25th to 27th, 2024, in Vietnam.

The ISP represents the culmination of Endeavor’s comprehensive collection process to find influential businesspeople around the world. It seeks founders who can make considerable money and job opportunities with Endeavor while also investing in their native ecosystems. The system offers entry to mentorship, resources, and networks to help entrepreneurs to make a world economic effect.

” Importantly, Ng’s vision and skills at the ISP left a profound impression”, remarked Tiger Fang, inc- founder of Kargo and one of the ISP participants. ” His entrepreneurial endurance is amazing, especially in the wake of the challenges of the post-Covid time. He is doing a remarkable job of surviving that wind and coming out of it even stronger.

” With majority agreement, we welcome Ng to the Mission area, anticipating a transformative trip forward. We anticipate the creative advancements and growth opportunities he may bring, Fang continued.

Janio, a fourth-party shipping company founded in 2018, manages supply stores from beginning to end through strategic partnerships. The company offers flexible services and data-driven solutions to improve supply chains effectively with a system of 300 logistics partners. Serving 2, 800 brands, including Nike, Goat, and Disney, alongside FedEx and Cainiao, Janio handles US$ 300 million ( RM1.4 billion ) in goods monthly, boasting a 98 % on- time delivery rate. The projected revenue for 2024 stands at US$ 34.5 million ( RM165 million ).

Ng expressed appreciation to Endeavor Malaysia for the knowledge the ISP and the opportunity to interact with companies and instructors around the world by thanking them for their guidance and support throughout this journey.

” My resolve to globalise Janio and help companies ‘ growth is stronger than ever with Endeavor’s support, empowering me to make a major global impact”, he added.

Janio will receive access to a number of comprehensive strategic support services as Endeavor expands its help. This includes visits to international business coaches and investors in an effort to address pressing issues and speed up their operations. Mission Malaysia supports 25 businesses that have passed the ISP selection process, more demonstrating its dedication to fostering innovative growth and success in the area.

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She Loves Tech, Digital Penang lead Malaysia’s Entry into the tech competition for women founders

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  • Aims to foster Malaysia as a gateway for startups&nbsp,
  • Opposition promotes necessity of sex inclusivity

She Loves Tech, Digital Penang lead Malaysia’s Entry into the tech competition for women founders

Digital Penang, a Penang State GLC, has announced its association with She Loves Tech, recognised as the country’s largest acceleration program for people in systems. Additionally, it asserts to be the biggest software on the planet dedicated to closing the gender funding gap.

Digital Penang invites people technology members from all industry sectors to take part in the 2024 She Loves Tech Startup worldwide competition, which has been officially appointed as Malaysia-level Key Selection Partner for its eighth celebration.

This collaboration and competition coincide with Malaysia’s imperative to develop the nation as a hub for startups, as just lauded by the Ministry of Economy and Ministry of Science, Technology, and Innovation. Additionally, the celebration emphasizes the importance of gender equality, especially with the participation of Malaysian women tech founders.

Digital Penang and She Loves Tech so welcome all state and national government organizations and private organizations involved in promoting people in technology to meet these collective efforts to promote and support women-led Indonesian companies in this global rivals.

The contest will not only draw attention to Malaysia’s vibrant tech sector, but it will also encourage economic growth and encourage the creation of novel alternatives that have the ability to have an impact on both domestic and international markets.

The partnership between She Loves Tech and Digital Penang, which serves as Malaysia’s standard key collection partner for the worldwide competition, is a testament to the state government’s commitment to raising awareness and promoting the inclusion of women in technology. This endeavor should not only be limited to Penang but also be extended to the entire country to give opportunities for all women there to share their ideas and solutions that are affecting the country’s economy, according to Zairil Khir Johari, the Penang State EXCO for Infrastructure, Transport, and Digital.

Participants in She Loves Tech must be women-led tech startups with a gender perspective, have received seed funding under US$ 5 million ( RM24 million ), and have a minimum viable product that has not been developed beyond the conceptual stage.

Additionally, they must meet at least one of the following gender lens criteria:

  • Founded by a woman
  • Majority female users
  • Majority female consumers
  • Technology having a positive effect on women

Participants at the regional level will gain a wide range of opportunities to connect with an international network of mentors, partners, and investors as well as extensive exposure to a global audience. All women who are eligible for this are invited to use this opportunity to create innovative solutions that positively affect Malaysian women.

For more details on the application process and to register for the competition, please visit https ://www .shelovestech .org/competition. The deadline for applications is April 22 through May 30th, 2024.

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Digital Nasional Berhad appoints new members to its Board of Directors 

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  • Nominations take effect on April 24, 2024.
  • DNB looks forward to the new club’s type in advancing M’sia’s online network

Digital Nasional Berhad appoints new members to its Board of Directors 

Following the Share Subscription Agreements that DNB, MOF Inc., and five Mobile Network Operators signed on December 20, 2018, Digital Nasional Berhad ( DNB) has announced the appointment of new Board members. The new Board members will include senior executives from the telecommunications and technology sector. The session takes effect on April 24, 2024.

Johan Mahmood Merican and Ma Sivanesan Marimuthu, the two different two current people, will join the five fresh people on DNB’s table.

The new committee members and their replacements are as follows:

MNO

Director

Alternate Director

CelcomDigi ( Infranation Sdn Bhd )

Datuk Kamal Khalid

 –

Maxis Broadband&nbsp, Sdn Bhd

Uthaya Kumar A/L K Vivekananda

 –

U Mobile Sdn Bhd

Chang Yit Fei

Tan Kok Leong

Telekom Malaysia Berhad

Nik Azli Abu Zahar

Mohamed Tajul Mohamed Sultan

YTL Power International Berhad

Yeoh Seok Hong

Dr. Fadhlullah Suhaimi Abdul Malek

Coc stated that it looks forward to hearing from the newly formed table in terms of driving the development of Malaysia’s modern facilities and the implementation of 5G systems across sectors, businesses, the public market, and consumers.

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Activpayroll strengthens presence in APAC with Kuala Lumpur Office to meet rising industry demands

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  • The growth addresses APAC’s need for HR and payroll services.
  • Aims to quadruple its workforce by 2028, with a 37 % increase in opex and capex&nbsp,

(L-R): Mahadhir Aziz, CEO of Malaysia Digital Economy Corporation (MDEC), Manish Mehta, regional director Activpayroll, David Deacon, chief people officer Activpayroll, Wilson Ugak Kumbong, deputy minister of Digital Malaysia, Ailsa Terry CMG, British high commissioner to Malaysia and Andrew Philp, executive director APAC Activpayroll during the Malaysia Digital Certificate Presentation

Activpayroll, a leading integrated global HR and payroll platform, has strengthened its&nbsp, position in Malaysia and is poised to tap into the growing Asia Pacific ( APAC ) payroll and HR outsourcing market with the opening of its new office in Bukit Damansara, officiated by Malaysia’s Deputy Minister of Digital, Wilson Ugak Kumbong. Also in attendance were Ailsa Terry, British High Commissioner to Malaysia, and Mahadhir Aziz, CEO of Malaysia Digital Economy Corporation ( MDEC ).

The market for HR and payroll outsourcing in APAC is projected to reach US$ 37.9 billion ( RM181 billion ) by 2027, growing at a compound annual growth rate ( CAGR ) of 8.2 % from 2022 to 2027. In APAC, where 57 % of businesses outsource their HR functions, a trend expected to grow, there is an increase in demand for professional service covering cross-border regional and global-scale HR and pay.

Andrew Philp, Activpayroll’s executive producer for APAC, stated,” As the business experiences extraordinary development, our growth in Kuala Lumpur is fast. This action strengthens our existence in this country and establishes the foundation for Activpayroll to take the lead in shaping the region’s future of global pay and HR companies.

” We see how important our continued expense in our operating teams, who are based in Malaysia, is to the development and growth of the Activpayroll services in the area. We are convinced that we will be able to provide the close help our customers need to excel in APAC because of the availability of skilled resources in Kuala Lumpur,” he added.

Activpayroll’s new Kuala Lumpur office will serve as its primary Global Support Service Centre ( GSS) for both global and Asia Pacific operations. By establishing a whole suite of teams, including those in tech and global payments, the company aims to optimize service delivery and enhance the customer experience. In terms of staff, the new business is anticipated to be the largest for Activpayroll, with hopes for a robust top-line income increase of over 40 %.

Additionally, the business intends to increase its workforce by quadrupedping its workforce by 2028, supported by an average 37 % increase in operating and capital expenditures. In less than a month, the company has previously doubled its workforce. &nbsp,

In response to the need for dynamic and skilled workers, Activpayroll has made significant investments in training and development initiatives to advance Malaysia’s efforts to have a strong talent pool.

Activpayroll received a document from MDEC for Malaysia Digital Status during the occasion. The increased investment in Malaysia and the company’s choice to place Kuala Lumpur as a local hub serving its APAC clients, according to Mahadhir Aziz, CEO of MDEC, are both clearly indications of the country’s commitment to creating a suitable business environment and solid infrastructure. Today, with the MD documentation, we anticipate their accelerated trip, further enhancing Malaysia’s fame within the powerful electric market ecosystem”.

This strategic shift by Activpayroll is both a testament to its commitment to the Indonesian market and a major contribution to Malaysia’s effort to lead the region in terms of innovation and modern transformation.

The business is dedicated to assisting businesses in navigating global challenges in their markets by providing customized solutions to address issues like tax compliance, world mobility, international payroll, and global HR. With existing customers within Asia such as Kellogg’s, BMW, AXA, British Council, and many more, Activpayroll is convinced that with Malaysia serving as the focal point in the region, it may force important development for the business.

Manish Mehta, regional director of Payroll Operations and nose of Global Support Services, Activpayroll, said,” As we embark on the early days of our annual GSS heart, we are proud to host important functions such as engineering and software management, management accounting, credit control, global payroll and payments, business and contracts, business development, and HR. Our unwavering commitment is to make sure the GSS center is a smashing success and that our global business expansion is seamless.

The establishment of the Kuala Lumpur hub demonstrates Activpayroll’s commitment to the rapidly expanding APAC region and the Malaysian market. An over 60 % increase in investment outlays has been caused by a significant investment drive launched in December 2022. &nbsp,

The Malaysian market will benefit from Malaysian businesses’ sustained growth and industry leadership, as well as meaningfully influencing the growth of the professional services sector, enabling Malaysian businesses and their workforces to prosper in the dynamic APAC landscape.

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Zetrix and MaiCapital Ink MoU to launch virtual asset funds in HK

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  • Consist of a box of cryptocurrencies, such as Bitcoin and Zetrix
  • MYEG expands the range of digital property for investors through its MYEG platform.

(from left): Marco Lim, Managing Partner of MaiCapital Limited; TS Wong, Group MD of MY E.G. Services Bhd; and Dr. Liu Zhiwei, Chairman of GoFintech Innovation Limited, a Hong Kong PLC which is a shareholder of MaiCapital.

Zetrix Foundation and MY E. G. Services Bhd signed a MoU with MaiCapital, a Hong Kong-licensed virtual asset manager, to work together on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund ( ETF ) products.

The MoU focuses on a collaboration to issue a Securities and Futures Commission of Hong Kong ( SFC) approved ETF, which would consist of a basket of cryptocurrencies, such as Bitcoin and Zetrix, and potentially other suitable cryptocurrencies.

This partnership follows MYEG- developed Zetrix’s news of a proper alliance with Web3Labs Hong Kong, a superstar in Web3 growth and expense, alongside venture capital firm Summer Capital. Collectively, they aim to push forward Hong Kong’s Web3 passions and place Zetrix as the desired blockchain infrastructure for software aligned with the Hong Kong government’s targets, an initiative launched earlier this year.

The SFC has begun granting certifications to a number of property managers in order to start the first place bitcoin and ethereum ETFs as a result of the cooperative effort between MYEG and MaiCapital. &nbsp,

The relationship, according to TS Wong, MYEG’s managing director, represents yet another significant step forward in the mainstream finance industry.

” MYEG is pleased to work with MaiCapital, a leading provider of virtual asset (VA ) fund services in Hong Kong, to expand our options for investors in terms of cryptocurrency virtual assets funds or ETF options. This collaboration aims to help investors reduce risk and uncertainty associated with owning a second cryptocurrency by offering investors more avenues for diversification across multiple cryptocurrencies.

Marco Lim, the controlling partner of Mai Capital Limited, says this engagement is a sign that Hong Kong’s accept of Web3 technology and its position as a gateway for innovation in this field is succeeding.

“VAs are a vital part of a lively Web3 ecosystem, and more and more top Web3 players are recognising Hong Kong’s liberal yet careful stance on Web3. Our latest MoU with Zetrix Foundation/MYEG is yet another bible”.

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Soft Space launches first JCB payment gateway in Malaysia

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  • SenangPay, an online payment processor, allows JCB understanding.
  • to encourage Soft Space in various industries, such as in-flight payments.

The launch of the first JCB payment gateway enables JCB acceptance for e-commerce merchants via Soft Space.

Soft Space Sdn Bhd, a leading fintech-as-a-service ( FaaS ) provider, and JCB International Co, Ltd, the international operations subsidiary of JCB Co, Ltd (JCB), announced the launch of the first ever JCB payment gateway in Malaysia.

Following their successful central bank digital currency ( CBDC ) trial in December 2023 and the recent agreement allowing JCB acceptance for all Hong Leong Bank merchants, Soft Space said it regards this as a significant milestone in its strategic partnership with JCB.

Leveraging JCB’s strong global community and Soft Space’s technical knowledge, the JCB payment gateway aligns with the global shift towards varied electronic transactions, meeting the market’s demand for protected, innovative payment options.

In this situation, Soft Space provides an Application Programming Interface ( API ) specification that makes it possible for acquirers and payment processors to quickly and effectively give their retail merchants access to JCB’s network of over 156 million cardmembers worldwide as of September 2023 ( where annual transaction volumes exceed 43 trillion ( US$ 278 billion ) between April 2022 and March 2023 ) without having to establish a direct connection to JCB themselves.

Soft Space launches first JCB payment gateway in MalaysiaMalaysia is the most popular nation in Southeast Asia in 2023, according to the start of the JCB pay gate. Not only will this make cross-border payments more convenient, secure and seamless, it aligns well with our broader goal to promote Soft Space’s technology in other verticals such as transit and in-flight payments globally, ” said Joel Tay ( pic ), Chief Executive Officer of Soft Space.

E-commerce merchants stand to benefit greatly from this development, especially those in the tourism sector. Japanese tourists are increasingly purchasing attraction tickets and booking accommodation via e-commerce merchants. If the merchants can start accepting JCB payments through payment facilitators, they are well-placed to capitalise on the rapidly growing international e-commerce spending by JCB cardmembers, which has increased by 52% from 2021 to 2022[1]. Figure I do not want to leave during the pandemic

Yoshiki Kaneko, President and CEO of JCB International Co, Ltd said: “Looking at the behavior of today’s shoppers, online shopping has become an essential part of their daily lives and also the primary source of growth for all companies, including JCB. This pattern is particularly prevalent since the crisis. To capitalize on the expanding business prospect in the e-commerce industry and to improve the experience for our JCB cardmembers and retailers, we are thrilled to launch the new work along with Soft Space. We can now have even greater assurance that our relationship with Malaysia’s top banking companies is essential to success thanks to this milestone in our strategic partnership with Soft Space. ”

Following the onboarding of senangPay, as the first JCB payment gateway part, Soft Space will expand the training of another acquirers and pay facilitators in the APAC area and past, promising greater effectiveness, security, and convenience for both merchants and JCB cardmembers.

By removing obstacles to making or accepting payments, we at SenangPay promote ease in business development. Integrating JCB Card understanding into senangPay’s habitat marks a major step for our stores, ” said Mansor Abd Rahman, CEO of senangPay. “Offering different payment options, while allowing consumers to pay using their desired methods, not just expands senangPay’s variety of transaction solutions, but also enables our merchants to join with Japan’s tourists and expatriates in Malaysia. ”

This achievement between Soft Space and JCB is more than just a milestone in their strategic partnership; it also demonstrates Soft Space and JCB’s shared commitment to changing the global payments landscape.

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