MRANTI launches KL Innovation Belt to spur Malaysia’s startup ecosystem

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  • Over the next three decades, plan to build KLIB centres in Bukit Jalil and Bangsar.
  • Industries such as electricity &amp, greentech, manufacturing &amp, technology, agriculture

The KL Innovation Belt was announced during the recent KL20 Summit.

With the launch of the KL Innovation Belt (KLIB ), a one-stop center for startups and investors, Technology Innovation Park Malaysia ( TiPM/MRANTI ) is issuing a clarion call to all innovators. The ground-breaking system of centres across the Klang Valley is intended to serve as their successpad, which was announced at the KL20 Summit in April.

[MRANTI’s fresh name, TiPM, was approved by the board. [Update: The name change will be made soon. ]

The Ministry of Economy has taken the initiative known as KL20 to make Kuala Lumpur the top-20 international business hub by 2030. By creating a centralized, attractive ecosystem that brings up businesses, investors, and academic institutions, this plan aims to spur innovation and economic development.

However, the release of the KL20 Action Paper outlines over 20 revolutionary reforms to lead strong growth and investment in Malaysia’s it sector.

KLIB touted to enable businesses and buyers

According to TiPM the KLIB helps companies and investors by fostering engagement, technology, and growth, enabling them to grow to greater heights.

Chang Lih Kang, Minister of Science, Technology and Innovation ( MOSTI), said,” We welcome you, as a Pioneering Innovator, to be part of a community targeted to grow within the next three years into a network of 500 companies, investors and industry leaders, with potential to collaborate with like- minded people whilst having access to support services tailored to your business”.

These hubs may concentrate on nurturing vital sectors including energy &amp, greentech, manufacturing &amp, automation, agriculture and Muslim economic services, aiming to foster a self- sustaining startup ecosystem that promotes constant innovation and growth.

Each hub will have easy access to government agencies and dedicated co-working spaces for networking events.

Dr Rais Hussin, CEO of TiPM said, “KLIB Innovators also stand to benefit from scalable office space that can accommodate up to 100 companies at any one time, high- speed internet, convenient access to transportation, as well as, important facilities such as F&amp, B and leisure”.

In addition, innovators will have access to investor pitch sessions and direct access to a pool of potential investors. TiPM will offer special rental and utility packages for the first three years in addition to the initiative, which will also include significant incentives for early movers.

Interested parties are encouraged to register their interest at http ://www.mranti.my/klib

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KL20: Dr V Sivapalan on changing the startup narrative, building enduring companies, and nation building

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  • Now, companies are more financially secure and economically sound.
  • Giving up is a fundamental tenet of Soonicorn Collective, which helps to sustain ecosystem.

KL20: Dr V Sivapalan on changing the startup narrative, building enduring companies, and nation building

” No more fun and flip”, quipped Dr Sivapalan Vivekarajah ( pic ), Chairman &amp, Senior Partner of Soonicorn Collective &amp, ScaleUp Malaysia, at his presentation on 23&nbsp, April at the KL20 Summit. It was a stark reality search for members.

The Silicon Valley Narrative, in his opinion, has been the one tale that has persisted throughout the business habitat in Malaysia for the past 20 years.

Firstly, you must raise as much money as you can, and as many times as you can, but you do n’t spend enough time building your business. &nbsp,

Next, you need to spend the money you raise and double your income two to three times per year, without worrying about the results. &nbsp,

Finally, you may develop huge- then flip the company to an innocent buyer and” we all get rich”, he said.

However, this has a drawback. He continued,” This tale is scam,” citing the fact that not many businesses in Malaysia or even those in its neighboring countries have successfully done this. Plus, most companies know that M&amp, A fail most of the time, but hardly anyone in Asia buys this storyline.

He claimed that he has spent 25 years in this habitat, and that he has not even identified 10 big corporations in Malaysia that have bought startups in the last five to ten years.

The truth is that in Asia, raising money is difficult, and there is a good chance that the faucet will nearer when raising and flipping. &nbsp,

However, the last couple of years were the hardest years previously to increase money and it is still difficult today, to which Sivapalan may attest to based on his 51 investments, 16 of them specific and 35 with his Scaleup Malaysia accelerator. &nbsp,

Even in the US, where many companies have very strong balance sheets and very high income, getting acquired is n’t common.

KL20: Dr V Sivapalan on changing the startup narrative, building enduring companies, and nation building

Sivapalan, sharing data from KPMG research ( chart ), showed that even in the US, where we are led to believe that startup acquisitions happen all the time, &nbsp, significant M&amp, A activity only happened in seven quarters between the 2016 to 2023 period. In every other third there was &nbsp, pretty little M&amp, A action. &nbsp,

The only times when&nbsp, M&amp, A&nbsp, does happen is when times are good, because according to the Harvard Business Review, between 70 % to 90 % of M&amp, A in the US actually fail. &nbsp,

 

It’s time to alter the tale, it is time to get back to basics

Furthermore, Singapore venture capital firm (VC ) Insignia, which recently raised US$ 1 billion ( RM4.75 billion ) stated that when it comes to building resilient companies in ASEAN, “fundraising today favors the financially robust and capital efficient”.

Seizing on this, Sivapalan stressed,” The good thing about Indonesian companies is that most of them are money successful”.

Indonesian companies have been forced to get money successful, he explained, like Singaporean VCs who are looking for bargains in Malaysia, because they, in contrast to firms in Singapore and Indonesia, have raised ridiculous amounts of money and are now struggling.

Sivapalan instead suggested founders consider the IPO route, noting that some of the world’s leading tech companies did so. Sivanaran opposed the raise and flip strategy. This is the route to building a lasting business, he said.

Siva dispels the myth that startups struggle to obtain IPOs. Everyone says going public about IPOs is difficult, but not the smart VCs. Those that tell you the IPO route is hard, want you to flip”, he said.

Siva shared that in Malaysia, if one can generate US$ 2.11 million ( RM10 million ) in profit a year, an IPO is guaranteed with bankers lining up to help you. &nbsp,

Thus, driving home his key message, Siva stressed, “you have to rethink this narrative, and think of building enduring businesses”.

 

The Soonicorn Collective and nation-building

KL20: Dr V Sivapalan on changing the startup narrative, building enduring companies, and nation building

Sivapalan recently launched the Soonicorn Collective, a membership- driven community platform for Malaysian CEOs to leverage their knowledge, networks and experience to build better leaders, companies and ecosystems.

His motivation? Imagine a group of these kinds of people, Sivapalan said,” If a single person can make a difference in this world, you can multiply that change, you can make a real difference in this world.”

The best startup founders are united in order for them to collaborate and create better and stronger businesses, according to” we have a mission to bring them together.” We are aiming to improve the ecosystem for everyone by raising all the ships as a result of a rising tide.

So far, the collective has made policy recommendations for budget 2024, two of which were accepted. &nbsp,

” We also recently had a meeting with the Deputy Minister of International Trade, giving recommendations and working with the Ministry of Investment, Trade &amp, Industry. Even if half of the recommendations are accepted, they are going to make it easier for businesses to grow exports”, he said.

” You have to be the change if you want to make a difference. We want to make sure the ecosystem is better for everybody, and we’re getting together to do that”, Sivapalan said.

To join, one has to not only be a tech company, but also be a CEO/C- level founder, generate at least US$ 1.79 million ( RM8 million ) in revenue, or have raised a minimum of RM2 million funding. &nbsp,

Since there is a lot of assistance for young startup companies already, the collective is for the more mature companies, and there is little assistance for late-stage businesses.

So far, the collective has 20 companies with sales last year of RM217 million with projected 2024 sales of RM766 million with projected exports of RM290 million. They have raised RM156 million in funding, and have a total headcount of 1, 260.

]RM1 = US$ 0.211]

KL20: Dr V Sivapalan on changing the startup narrative, building enduring companies, and nation building

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Runchise raises USmil new funding co-led by East Ventures and Genesia Ventures

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  • Reaffirms devotion to F&amp, B industry growth
  • Funding will assistance technology advancement, branding &amp, development

Runchise raises US$1mil new funding co-led by East Ventures and Genesia Ventures

Runchise, an Indonesia- based restaurant control and cooking franchise company, announced that it has raised innovative funding of US$ 1 million ( RM4.7 million ) from the existing owners East Ventures and Genesia Ventures. With this new financing, the firm’s principal focus remains on scientific advancement and development to increase restaurants ‘ profitability. &nbsp,

Moreover, the startup will prioritize investments in geographic expansion and branding to expand its reach to more cities, enabling more companies to succeed.

Daniel Witono, i- founder and CEO of Runchise said, &nbsp,” We believe that engineering is an important instrument in ensuring the operating performance of this business. Having said that, we are dedicated to offering the players creative and custom options to expand and access the opportunities that lie ahead.

In many emerging nations, the food and beverage ( F&amp, B) and hospitality businesses offer significant options, but the sector also faces fierce competition. For success, functional quality and performance are crucial. But, F&amp, B people still face problems and difficulties in maximising their rise, with some customized solutions available.

Runchise claims that its solutions are created using a user-centric program with an end-to-end ecology and based on a thorough understanding of the business operation and restaurant operations. With a&nbsp, fog- based program, the company ensures that all the information from the restaurant outlets is connected honestly, exactly, and continuously into one platform.Runchise raises US$1mil new funding co-led by East Ventures and Genesia Ventures

Currently, its solutions contain front- store operations, again- office functionalities, integration with virtual food delivery platforms, and customer engagement. Runchise can also provide a regular sales forecast for each channel with the help of machine learning. &nbsp,

” We’re pleased to increase our investment in Runchise. With the big opportunity in the F&amp, B industry combined with Witono and his team’s proficiency, we believe Runchise will continue to play a significant role in digitalizing the F&amp, B ecosystem in Indonesia”, said Melisa Irene ( pic ), partner at East Ventures.

The pandemic’s acceleration of consumption behavior has made it imperative for retailers to choose an multichannel strategy and improve their revenue potential.

” We believe that with Witono’s knowledge and authority, Runchise is poised to become an industry leader in the F&amp, B business and are looking forward to supporting Witono and his team as they continue to set new standards in the F&amp, B business”, said Takahiro Suzuki, Genesia Ventures, common partner.

Runchise, which was founded in 2022 by Winoto and Ivana Widjaja, co-founders and chief operating officers, claims to have helped hundreds of brands scale and streamline their processes, especially by bringing their operation to multiple locations. ‍

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Runchise raises US million new funding co-led by East Ventures and Genesia Ventures

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  • Reaffirms determination to F&amp, B industry growth
  • Funding will assistance technology advancement, branding &amp, development

Runchise raises US$1 million new funding co-led by East Ventures and Genesia Ventures

Runchise, an Indonesia- based restaurant control and cooking franchise company, announced that it has raised innovative funding of US$ 1 million ( RM4.7 million ) from the existing owners East Ventures and Genesia Ventures. With this new financing, the firm’s principal focus remains on scientific advancement and development to increase restaurants ‘ profitability. &nbsp,

Also, the startup will prioritize investments in geographic expansion and branding to expand its reach to more cities, enabling more companies to succeed.

This money represents a powerful endorsement of the company’s strategy to advance the F&amp, B market, according to Daniel Witono, co-founder and CEO of Runchise. We think technology is crucial to ensuring this industry’s operating performance. We are dedicated to helping the people grow and discover the opportunities that lie ahead by offering innovative and custom solutions, he continued. &nbsp,

In many emerging nations, the food and beverage ( F&amp, B) and hospitality businesses offer significant possibilities, but the sector also faces fierce competition from other people. Therefore, success in this industry depends on operational quality and reliability. However, the F&amp, B players also face problems and challenges in maximising their rise, with some tailored options available for this market.

Runchise claims that its solutions are based on a thorough understanding of the business operation and restaurant operations, creating a user-centric program with an end-to-end ecosystem. With the internet or fog- based system, the startup ensures that all the information from the restaurant outlets is connected honestly, exactly, and continuously into one platform.Runchise raises US$1 million new funding co-led by East Ventures and Genesia Ventures

Currently, its solutions contain front- store operations, again- office functionalities, integration with virtual food delivery platforms, and customer engagement. Runchise can also provide a regular sales forecast for each store with the help of machine learning. &nbsp,

” We’re pleased to increase our investment in Runchise. With the big opportunity in the F&amp, B industry combined with Witono and his team’s proficiency, we believe Runchise will continue to play a significant role in digitalizing the F&amp, B ecosystem in Indonesia”, said Melisa Irene ( pic ), partner at East Ventures.

With its expanding range of solutions, Runchise is well-positioned to capitalize on the powerful and expanding F&amp, B business. The pandemic’s acceleration of consumption behavior has made it imperative for retailers to choose an multichannel strategy and improve their revenue potential.

” We believe that with Witono’s knowledge and authority, Runchise is poised to become an market leader in the F&amp, B business. We are convinced in reaffirming our responsibility to Runchise through a follow- on expense, and are looking forward to supporting Witono and his team as they continue to set new standards in the F&amp, B industry”, said Takahiro Suzuki, Genesia Ventures, public partner.

Runchise, which was founded in 2022 by Winoto and Ivana Widjaja, co-founders and chief operating officers, claims to have helped hundreds of brands scale and streamline their processes, especially by bringing their operation to multiple locations. ‍

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NSG BioLabs drives biotech innovation in Southeast Asia with support from EnterpriseSG, Merck, and investments from Celadon Partners and ClavystBio

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  • Committed to help inventors, contribute to S’pore’s biotech habitat
  • Announced a US$ 14.5 million funding from Celadon Partners and ClayvstBio

NSG BioLabs drives biotech innovation in Southeast Asia with support from EnterpriseSG, Merck, and investments from Celadon Partners and ClavystBio

NSG BioLabs, Singapore’s company of biotech co- working labs and workplace space has announced partnerships with Enterprise Singapore, the Singapore government agency championing enterprise development, and Merck, a leading science and technology company, to boost the biomedical landscape by providing needed resources for as funding, expertise and networks to advance startup research and development. &nbsp,

In a statement, the company said it has also concluded a US$ 14.5 million ( RM68.7 million ) financing round led by Celadon Partners, an Asian private equity firm, and ClayvstBio, a life science investor and venture builder set up by Temasek to accelerate the commercialisation of breakthrough ideas to health impact. &nbsp,

It added that these achievements reaffirm the company’s power and expertise in providing higher- quality, nicely- managed, and turnkey Biosafety Level 2 accredited laboratory and office spaces. Also, these milestones underscore NSG BioLabs as an ecology precursor, providing value- include services and networks, which are critical in driving technological innovation and business growth.

Since 2019, NSG BioLabs has been assisting innovators in creating effective solutions in the health, medical, agrifood, and professional biotechnology sectors, working in areas like as precision medicine, nucleic acids, AI- enabled drug discovery, and artificial biology. The company has assisted over 40 businesses as residents with what it claims to be the biggest co-working biotech laboratory and office footprint in Singapore. &nbsp,

NSG BioLabs drives biotech innovation in Southeast Asia with support from EnterpriseSG, Merck, and investments from Celadon Partners and ClavystBioThe company’s current residents include numerous multi-billion-dollar corporations as well as numerous promising startups that have achieved significant success. The startup residents have already established hundreds of jobs and successfully raised nearly US$ 400 million ( RM1.9 billion ) in funding. &nbsp,

NSG BioLabs, the company’s CEO and founder, Daphne Teo ( pic ), expressed her support for innovators and how proud of its contribution to Singapore’s expanding biotech ecosystem. We hope to encourage greater collaboration among other stakeholders to benefit the biotech industry in Singapore and the Asia-Pacific region, she said.” Our partnerships with EnterpriseSG and Merck demonstrate the importance of a collaborative spirit.”

” We are thankful for the recognition from our investors, Celadon Partners and ClavystBio, and look forward to further empowering our residents in their innovation efforts through expanded facilities, enhanced value- add offerings, and greater exposure to valuable industry networking and mentorship experiences”, Teo said.

NSG BioLabs has been part of EnterpriseSG’s Startup SG Accelerator programme since 2019. In order to accelerate the development and commercialization of such deep tech solutions, the company announced a new partnership with EnterpriseSG to invest in and nurture more high-potential biotech startups. In particular, the company expanded support for those with promising innovations in fields like precision medicine.

Dr Clarice Chen, director of Healthcare and Biomedical, EnterpriseSG stated that Singapore’s biotech landscape has evolved significantly, with a burgeoning community of global startups and doubled healthtech deals in 2023. By providing patient capital, infrastructure, and expertise, EnterpriseSG will continue to collaborate with industry partners like NSG BioLabs to advance the development of novel deep tech innovations like AI-enabled platforms and targeted therapies. This will strengthen Singapore’s edge in precision medicine and revolutionise healthcare delivery”, she added.

The newly acquired funds from Celadon Partners and ClavystBio will be used to improve its products and services and build additional facilities to meet the growing demands of biotech startups and multinational companies in Singapore and Southeast Asia, according to NSG BioLabs, in order to further its mission of supporting biotech innovators.

We are confident that NSG BioLabs ‘ innovative co-working model will provide compelling solutions to biotech startups and companies in the Southeast Asian region given the sector’s significant growth being driven by healthcare needs. NSG BioLabs ‘ commitment to enabling businesses to quickly track their research and development efforts is commendable, according to Donald Tang, managing partner at Celadon Partners.

Meanwhile, Khoo Shih CEO ClavystBio said, the company is excited to foster the growth of Singapore’s life science ecosystem through its support of NSG BioLabs, and its resident startups. ” This investment reinforces ClavystBio’s mission to accelerate breakthrough science into health impact through venture building, and strategic partnerships”, he said. &nbsp,

NSG BioLabs cultivates mutually beneficial relationships between its residents and other important parties as a significant platform in the area with a proven and expanding scale. The company has partnered with Merck to give its residents special terms for Merck’s reagents and life sciences equipment in order to further enable their residents to develop, grow, and scale up. Additionally, the partnership grants you preferential access to biopharma processing expertise and advice on how to increase production.

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NetApp appoints Henry Kho as area vice president and general manager for the Greater China, ASEAN, and South Korea

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  • brings more than 20 years of experience to the tech sector.
  • Tasked to push NetApp’s company strategy, guide go- to- market activities&nbsp,

NetApp appoints Henry Kho as area vice president and general manager for the Greater China, ASEAN, and South Korea

NetApp, the intelligent data infrastructure company, has announced the appointment of Henry Kho ( pic ) as the new area vice president and general manager for its business in Greater China, ASEAN, and South Korea, ( GCASK). Kho will be in charge of leading the bank’s go-to-market activities in this area and driving the company’s overall business strategy from its base in Singapore. His interests include strengthening NetApp’s companion habitat and establishing its position of authority in the all-flash and hybrid cloud.

“GCASK is a place that is characterized by its enormous diversity and development. According to Andrew Sotiropoulos, senior vice president and general supervisor, NetApp Asia Pacific, Koh’s corporate vision and understanding of the complicated business environment make him ideal for helping organizations exploit the potential for data conversion. &nbsp,

” With Kho leading the charge, I am confident we will solidify our position as the intelligent information system organization in the region, empowering our clients to utilize data simply, securely, and sustainably across their entire property”, he added.

At a time when AI implementation is rapidly accelerating and data-centric business models are gaining ground, Kho said,” I am thrilled to embark on this new section of my occupation with NetApp.” &nbsp,

” Together with the talented teams across the place, I am committed to helping our customers optimize their data network and access their data’s full potential to generate performance, technology, and effective business outcomes”.

Kho has extensive knowledge in the tech sector, as well as a track record in leading local groups and developing long-term partnerships. Prior to joining NetApp, he was Sprinklr’s Asia Pacific region’s section vice president, helping a multi-market team advance the region to become the company’s top-performing division. Kho has furthermore held leadership roles at Amazon and founded Infinix, a technology firm firm, before in his profession.

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After losing major customer, Osram scales back micro LED dream, to sell plant in Malaysia owned by PNB, EPF, KWAP

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  • Withdrawal by major client, believed to be Apple, set for decision
  • After ten years, the original intention was to get up the flower from the property manager and pension funds.

Osram's just completed micro LED plant sits next to an existing LED plant (white building) in Kulim, Malaysia. The companyis now looking for a party to take over the lease it signed with the building owners, Malaysian funds PNB, EPF and KWAP.

In a sign of how when promising future revenue sources of growth can go north in the world of hi- tech manufacturing- quite fast- ams Osram, a Austrian- German global optical solutions specialist, particularly in automotives, with a 52 year presence in Malaysia, has pulled the plug on its just completed micro LED plant in Kulim Hi- tech Park, Kedah with an estimated US$ 1 billion ( RM4.75 billion ) multiyear, multi stage investment. The first stage of that purchase is represented by the existing structure.

Standard LEDs are taken and reduced to the micro level by Micro LED. The display industry was again predicted to be the prospect.

Osram began its Indonesian appearance in 1972 as Siemens. In 2020, ams, an Hungarian electronics firm that designs and manufactures sensors for little form factor, small power, highest sensitivity, and multiple- sensor applications, acquired European based Osram.

Ams Osram CEO, Aldo Kamper, disclosed during his analyst call on April 27th that the company had to reevaluate its entry into the sub LED business with the determination to concentrate on its inner micro LED requirements rather than the wider industry as a result of a key customer’s cancellation in February, which was reported to be Apple. Its production in Germany may fill that need. It is now looking for a buyer to purchase the Kulim sub Lead plant’s lease.

That lease is held by three Malaysian funds, namely asset manager Permodalan Nasional Bhd ( PNB), and pension funds &nbsp, Employee Provident Fund ( EPF ) &nbsp, and Kumpulan Wang Persaraan ( KWAP ) who came into the picture last year when, as part of its financial restructuring, a €400 million ( RM2.03 billion ) sale and leaseback of the micro LED site was executed with a commitment from ams Osram to buy it back from the pension funds after ten years, possibly even earlier if it wanted to.

Due to the withdrawal of what Kamper called the researcher briefing’s” cornerstone” contract, it is unknown whether Ams Osram has yet to begin discussions with any parties.

According to a person with knowledge of the situation, Ams Osram will continue to fulfill its financial responsibilities to PNB, EPF, and KWAP in the worst case scenario where there is no financial impact on the three Indonesian money.

The new facility, which opened in 2017 for US$ 398 million ( RM1.9 billion ), is located next to an existing Kulim factory that produces conventional LEDs. An Ams Osram executive who spoke on condition of anonymity said,” It is business as usual for that plant.”

The decision will affect a significant number of people globally, with Penang reportedly home to roughly 500 workers. The executive stated that the company is considering moving some of those workers to other areas of its operations in Malaysia.

That is a business which has grown to around 6, 500 employees from 2, 000 in the early 2000s. Its latest investment was an expansion in March 2022 to a 60- acre site in Batu Kawan, Penang

Malaysia is a key manufacturing and R&amp, D hub for ams Osram. Since its inception about 20 years ago, its R&amp, D team based out of Penang and Kulim has grown to around 400 researchers and is well-known for its numerous patents.

The executive stated that the market for sensors and LEDs is still expanding and that the company has business lines that are expanding in other industries.

From its Malaysian plants, Ams Osram has been producing LEDs for a variety of uses, including ultraviolet and infrared. In addition to various headlamps, taillights, and car interior lighting, it is the number one global manufacturer.

What has happened is a bump in the road that we will work through, said the executive,” We are unwavering market leaders in automotive optoelectronics.”

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Aeon Bank, Visa partnership set to transform digital payment landscape 

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  • The association may begin with the Aeon Bank by Visa Debit Card-i&nbsp release.
  • aims to connect online payment options for users across a range of channels.

Left: Raja Teh Maimunah, CEO of Aeon Bank (M) Berhad and Ng Kong Boon, Visa country manager for MalaysiaAEON Bank, Malaysia’s second Muslim modern banks, has announced a strategic partnership with Visa. This new partnership marks a major step in their efforts to transform the experience for local Malaysians using electronic payments and cashless transactions.

The parties disclosed in a joint statement that the partnership will begin with the release of Aeon Bank x Visa Debit Card-i and will quickly include different digital payment options. These solutions are intended to address Malaysian consumers ‘ growing need for secure, dependable cashless transactions and online banking services that adhere to Shariah finance principles.

Raja Teh Maimunah, CEO of Aeon Bank ( M ) Berhad, expressed excitement about partnering with Visa, leveraging their innovative capabilities to provide secure, easily accessible, and convenient banking solutions tailored to meet the demands of Malaysian consumers. &nbsp,

She emphasized that this relationship would allow Malaysians from all walks of life to benefit from Visa’s broad network of merchants and partners while also providing Shariah-compliant solutions.

Aeon Bank, a online bank with international expertise in digital payment technology and Aeon Group’s wider retail and finance ecosystem, is where Visa expressed its excitement for moving forward. This partnership aims to reach out to a sizable customer base by integrating value-added, smooth online payment options that address the demands of contemporary consumers across the omnichannel landscape.

Ng Kong Boon, Visa country director for Malaysia, highlighted the rapid development of the payment industry, customer needs, and settlement systems. He expressed his pleasure about working with Aeon Bank to create the next-generation products and solutions in response to the changing environment. This proper partnership aims to transform Malaysian pay and employment practices and help Aeon Bank’s upcoming growth.

Users of the Aeon Bank by Visa Debit Card-i can enjoy beautiful rewards and sign-up bonuses throughout the campaign period as part of the magnificent launch.

Aeon Bank, a part of the Aeon Group, is one of Malaysia’s most identifiable home businesses, with over four centuries of history in Malaysia and more than 200 times in Japan. The bank, which is Malaysia’s first Islamist online bank, is dedicated to giving everyone, including the underrepresented and unbanked, the opportunity to follow their aspirations and become economically independent, while also fostering a more equitable financial future for all.

Following AeonBankMY on social media for more information or visit AEON Bank and Visa‘s website for more information.

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Moneythor welcomes Martin Frick as new CEO to drive strategic growth

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  • Co- creator, Olivier Berthier did transition to the part of chairman
  • Frick boasts three decades of experience that has helped his company succeed in powerful markets.

Moneythor welcomes Martin Frick as new CEO to drive strategic growth

Martin Frick has been named as Moneythor’s new chief executive officer, the industry leader in all-in-one personalization alternatives for financial institutions. Sequentially, Olivier Berthier, the inc- founder of Moneythor, did transition to the role of chairman, continuing to deliver essential guidance and support to the organisation.

This change in leadership is important for the company’s evolution and comes at a time when Moneythor is expanding and expanding, thanks to the acquisition of many clients in new markets and regions.

Frick has considerable knowledge and a proven track record of fostering organizational success in active and dynamic markets with a career that spans more than three decades. His career includes significant roles such as managing producer, Asia Pacific, at market- leading software firms Temenos and Avaloq. Most recently, Frick led his personal advisory firm, Amsantix Pte Ltd., assisting tech firms in weighting and achieving sustainable development.

In his position as CEO, Frick will rely on accelerating growth, developing technology, and strengthening Moneythor’s status as a market leader in the financial services customization area.

Berthier, who has played an instrumental role in founding and shaping Moneythor since its inception, will assume the position of chairman. He will continue to contribute his industry expertise and strategic insights to the company’s long-term strategy and direction. &nbsp,

As chairman, Berthier and Martin will collaborate closely to ensure a smooth transition and upbeat momentum.

Berthier’s optimism about Frick’s ability to carry Moneythor through this next stage of development was expressed when he spoke about the leadership transition. He remarked,” I’m proud of what we have accomplished at Moneythor over the past eleven years. I have full confidence in Frick’s leadership skills and future vision as I transition to the chairmanship. Together, we will continue to drive innovation, foster growth, and deliver exceptional value to our customers”.

Frick continued,” It’s a great time to be a part of Moneythor’s journey,” adding,” I’m honored to be a part of it.” Under Berthier’s leadership, Moneythor has achieved great success and built a strong foundation upon which I look forward to growing. Together, we will chart a course for continued success and solidify Moneythor’s position as a leader in the financial services space”.

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DNB-Ericsson in latest effort to boost tepid enterprise 5G adoption in Malaysia 

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  • MoUs with Intel, Ericsson, eMooVit, Scania and SKF Malaysia to create usage scenarios
  • Gobind enthusiastic businesses will take advantage of the benefits of utilizing 5G options

David Hägerbro, Head of Ericsson Malaysia, Sri Lanka and Bangladesh with Dr. Hairi Zamzuri, CEO of eMooVit Technology witnessed by (back row L to R): Ahmad Zaki Zahid, DNB Chief Strategy Officer; Börje Ekholm, Ericsson Group CEO and Gobind Singh Deo, Minister of Digital.

Despite the sluggish business interest and possibly lower implementation of 5G based services, Digital Nasional Bhd ( DNB), the operator of Malaysia’s nationwide 5G network and its ultimate network equipment provider, Ericsson, are pushing ahead to create market interest in adopting 5G based services.

Their latest work comes in the form of MoUs signed with Intel, eMooVit Technology, a Malay autonomous car business, and two world Swedish companies, Scania, a transport solutions provider and SKF Malaysia, a bearing and seal manufacturer. Börje Ekholm, CEO of Ericsson Group who was making an Eastern trip, was in KL to see the drafting with Malaysia’s Digital Minister Gobind Singh in attendance. The Ministry of Finance has established a firm called DNB, which is under Gobind’s government’s control.

DNB and Ericsson are hoping that the MoUs may help businesses develop advanced, industry-specific 5G options that will enable them to increase operational efficiency, promote product innovation, and think about new business models.

” Malaysia is truly positioned to promote automation. According to Ahmad Zaki Zahid, DNB’s Chief Strategy Officer, these Agreements may safe industry leaders by demonstrating the full potential of automation and 5G, which may lead to the desired result of the MOUs.

Dr Hairi Zamzuri, eMooVit’s CEO, said,” Partnering with Ericsson is essential for turning ideas into reality through firm use, with the ultimate aim of transforming urban transport in the future”.

By integrating its operating systems sensors, camera systems, and video analytics over the 5G community, the company is testing use cases for autonomous transportation. &nbsp,

Gobind emphasized the pivotal role of Malaysia’s 5G ecosystem in propelling enterprises towards digital transformation. &nbsp,

” Malaysia’s world- class 5G network is the cornerstone of this digitalization plan. It is much simpler than ever for industries to adopt use cases powered by 5G technology because of the widespread availability ( 80.2 % coverage of populated areas ) of high-quality 5G in Malaysia.

Gobind noted that Malaysia’s 5G deployment is credited with being one of the fastest globally, reaching 80 % of population coverage in less than two years of operation. As of March 2024, DNB said the network serves over 11.9 million 5G subscribers. Ekholm attributed this to the “excellent execution by DNB” resulting in,” now Malaysia has a world- class digital infrastructure”.

However, despite accolades like having a world-class 5G network, being the fastest to reach 80 %, and being among the most affordable, these accomplishments have not yet influenced Malaysian businesses to adopt 5G as part of their digital transformation or competitive strategies. Gobind expressed hope that more businesses will take advantage of the benefits that these cutting-edge telecommunication technologies can offer their businesses.

Taking questions from the media on developments around the second 5G network for Malaysia, Gobind said the new&nbsp, board of DNB, &nbsp, on&nbsp, Tuesday, will study a&nbsp, due diligence report regarding the 5G share sale agreement ( SSA ), before making any recommendations. He reiterated that the government’s position was that certain pre-requisites for the SSA between mobile network operators and DNB must be satisfied before a second 5G network can be established.

” The latest pre- condition met&nbsp, was the appointment of the directors&nbsp, last week” ,&nbsp, he said.

Intel, Scania and SKF Malaysia roles

Intel will work with Intel to create 5G use cases that will encourage the adoption of businesses. Intel and Ericsson want to demonstrate how communication service providers can speed up 5G adoption and foster compelling use cases for B2B transactions. Intel will focus on use cases in key sectors like manufacturing, transport, and logistics.

AK Chong, Intel’s VP of Foundry Manufacturing &amp, Supply Chain and Malaysia MD said,” Intel’s technology is at the heart of this industry transformation, catalyzing AI at the edge and breaking down barriers in the 5G core space”, she said. &nbsp,

To benefit from 5 G’s enhanced mobile broadband capabilities for optimized logistics operations, Scania will concentrate on integrating sensors, fleet management systems, and analytics. ” With 5G technology, Scania Malaysia aims to optimize our assembly and fleet management further to deliver greater efficiency to customers”, said Heba Eltarifi, Managing Director of Scania Southeast Asia.

The collaboration with SKF Malaysia, a market leader in bearing and seal solutions, will look at using 5G to enable wireless digitalization on manufacturing floors. Potential use cases include data shower analysis, video sensor monitoring, and data capture. ” We expect this collaboration to represent a significant milestone in our digital transformation journey”, said Vignesh Sakthinathan, Managing Director of SKF Malaysia.

According to David Hägerbro, Head of Ericsson Malaysia, Sri Lanka, and Bangladesh, Malaysia’s 5G network ranks globally among the top five thanks to its availability, affordability, customer experience, and capability. ” Business in Malaysia is now more competitive and attractive for foreign investors thanks to the digital infrastructure created by 5G.”

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