EY launches EY Young Technology Professional Challenge 2024, in collaboration with SAP and Petronas

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  • Participants will be given a professional’s guidance from concept creation to alternative creation.
  • aims to promote STEM innovation and elevate student knowledge of technology in business.

EY launches EY Young Technology Professional Challenge 2024, in collaboration with SAP and Petronas

Ernst &amp, Young Consulting Sdn Bhd, in collaboration with SAP and Petronas, announced the launch of the EY Young Technology Professional Challenge ( EY YTPC ) 2024.

In a statement, the agency said that Malaysian students, in their second year of research or beyond, enrolled in regional or international institutions, are invited to participate in the problem. The team-based opposition, now in its second generation, aims to raise awareness among Indonesian students on applying enterprise technology in a real business environment, develop innovation in the STEM workforce, and assist a network of youthful technologists, aligning with Malaysia’s Digital Economy aspirations and EY’s purpose of Building a Better Working World. &nbsp,

Ismed Bahatiar, Malaysia Markets and Oil &amp, Gas head, Ernst &amp, Young Consulting Sdn Bhd, outlined:” The EY Young Technology Professional Challenge aligns attentively with EY’s function of Building a Better Working World for the next generation, who are poised to be potential business and technology leaders. By bringing together experts from the ecosystem to expand their learning, the opposition serves as a precursor in their professional adventures.

Teams of two to four people will be required to complete the challenge, which will enable them to gain hands-on experience with the SAP Business Technology Platform ( BTP), recognized as a pioneer in the Gartner Magic Quadrant for Integration Platformasa Services (iPaaS ) and a visionary in the Gartner Magic Quadrant for robotic process automation. SAP BTP integrates software development, technology, data and analytics, and AI in a consolidated setting.

Teams may be assessed on their answers, built using SAP BTP, and their seminars. Judges will examine imagination, analytical skills, useful skills, leadership characteristics, and personal attributes.

Throughout the opposition, EY, SAP, and Petronas experts will guide members from pitching concepts to developing business options. The tips will be reviewed over four months, followed by semi-final and final stages in December.

Prizes include up to US$ 2, 700 ( RM12, 000 ) and internship opportunities or conditional employment offers with EY member firms in Malaysia.

Vipin Chandran, Managing Director of SAP Malaysia, stated:” SAP is happy to assist the EY Young Technology Professional Challenge 2024, fostering collaboration and creativity. Opposite EY and Petronas, we are helping create future technologies leaders and advancing Malaysia’s modern business. Through SAP BTP, we equip younger skills to address real-world issues”.

Nur Fadillah Bt Mior Sharifuddin, Head of Group Technical Capability Management, Project Delivery &amp, Technology ( PD&amp, T ) at Petronas, added:” Petronas is proud to partner with EY for the EY Young Technology Professional Challenge 2024, empowering young Malaysian talent in digital innovation. The program is bolstered by 14 institutions under Petronas’s CHESS program, bridging academia and industry to produce future-ready frontrunners”.

For more information on EY YTPC, visit ey .com/en_my/careers/technology/ytpc

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MDEC CEO: Madani Budget 2025 ‘forward thinking’ and ‘future ready’

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  • Set to advance Malaysia’s modern management forward of ASEAN 2025
  • opportunities to keep investing in the nation, both from local and foreign owners

A sign that the digital economy is picking up steam in Malaysia. Even in non-urban areas, more micro SMEs are starting to prefer e-payments over cash. The vendor is selling his goods at a beach in Sekinchan, Selangor. He still accepts cash as not all his customers use e-wallets.

Malaysia Digital Economy Corporation ( MDEC ) has described the National Budget 2025, themed’ Madani Economy: Negara Makmur, Rakyat Sejahtera’, as a forward-thinking budget that further strengthens the foundation of the nation’s digital economy.

Anuar Fariz Fadzil ( pic ), MDEC CEO said the budget provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence ( AI ) and drive inclusive growth.

MDEC CEO: Madani Budget 2025 ‘forward thinking’ and ‘future ready’As Malaysia prepares to take over ASEAN 2025, the Madani Budget 2025 comes at a suitable period, according to Anuar.

With its own proper initiatives in place, Malaysia is “foreign ready” and well-equipped to foster local collaboration in crucial fields like AI, the online economy, and innovation, thereby enhancing our position in ASEAN and beyond. According to him, the proposed budget offers opportunities for both local and foreign owners to keep investing in Malaysia, particularly in high-value activities like online services.

The small and medium business ( SME) area in the country also stands to gain from initiatives to adopt digital tools for increased productivity and operational efficiency.

” As Digital Minister Gobind Singh Deo stated, the Budget builds upon the solid foundations of Malaysia’s modern economy”, Anuar added. Gobind recently stated that the digital economy is projected to account for 25.5 % of the country’s GDP by 2025 or even surpass the estimates made by the government a few years ago. Piko is more optimistic and stated that it anticipates meeting the objective by 2024.

In a speech released by his government on Saturday, Gobind had described the Madani Budget 2025 as “one that prioritizes the well-being and growth of the rakyat.”

” The efforts in Budget 2025 may continue to support the Ministry of Digital in leading digital conversion work, creating an efficient and secure national modern habitat, boosting the country’s modern economy and narrowing the socio-economic divide among Malaysians”, he added.

Stressing on Malaysia’s important advantages, Anuar emphasised its strategic location, cultural and English-speaking labor, investor-friendly culture and steady pro-business state.

A significant highlight of Budget 2025 was the successful attraction of US$ 16.9 billion ( RM72.7 billion ) in investments from global tech leaders, including Amazon Web Services, Microsoft, Google and Oracle. This achievement, which was the result of a concerted effort between ministries and organizations, including MDEC, highlights Malaysia’s position as a regional hub for sky infrastructure and a major player in the world’s modern economy.

Establishing the ASEAN AI Safe Network

On the AI front, Anuar said the government’s US$ 2.33 million ( RM10 million ) allocation to the National AI Office and RM50 million for AI education demonstrates a strong commitment to advancing AI and building a skilled talent pipeline.

” These efforts will promote AI adoption and guarantee Malaysia leads the region in AI development and social development,” Anuar said. Our commitment to developing social AI comes to life in our leadership in creating the ASEAN AI Safe Network.

” MDEC is committed to working alongside the government to ensure that AI systems are deployed ethically and responsibly, securing Malaysia’s online coming through collaboration among education, business, public institutions and the rakyat”, he added.

Anuar added that the Digital ID initiative will be crucial in enhancing digital trust and security by offering businesses and the rakyat a secure, trustworthy method of online identity verification.

The introduction of Digital ID will improve access to digital services and increase confidence in online transactions, reducing fraud, and improving the overall digital economy. This initiative will be crucial in supporting Malaysia’s efforts to advance its position as a leader in the region’s secure digital services, according to Anuar.

Empowering SMEs, startups and entrepreneurs

The RM1 billion National Fund-of-Funds and RM1 billion Pioneer Fund by KWAP are key initiatives to support Malaysia’s startup ecosystem.

]RM1 = US$ 0.232 ]

” MDEC welcomes the additional RM65 million for Cradle Fund to expand regional and global potential for local startups, as well as the RM15 million matching grant to encourage collaboration between government-linked companies ( GLCs ) and startups through corporate venture capital,” Anuar said.

The government’s commitment to cultivating a” culture of innovation” among the Raykat and businesses aligns firmly with MDEC’s goal of making Malaysia an incubator for startup innovation in the ASEAN region.

The MDEC Founders Centre of Excellence ( FOX ) initiative has proved to be a smashing success by providing crucial resources with mentorship and infrastructure support. Anwar Ibrahim, the prime minister, cited Vitrox Bhd as an illustration of the success of this initiative.

Vitrox, founded by two engineers from Universiti Sains Malaysia ( USM) and guided by MDEC’s GAIN programme, has grown into a global player in the electronics industry, serving markets across Asia, Europe and the United States.

” MDEC stands ready to support these transformative initiatives, working closely with entrepreneurs, businesses and communities to ensure Malaysia’s digital economy continues to thrive and create opportunities for all”, Anuar concluded.

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RethinQ Entrepreneurship will challenge your notions of what makes for a successful entrepreneur.. does even Elon know?

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  • Success/failure of a&nbsp, opportunity is totally different from&nbsp, success/failure of the investor
  • High failure rates of ventures&nbsp, shows&nbsp, standard entrepreneurship education is not enough

RethinQ Entrepreneurship will challenge your notions of what makes for a successful entrepreneur.. does even Elon know?

The term ‘ Effectuation Theory ‘ does n’t exactly roll off the tongue. Nor will you find a single startup founder, publish a funding round, excitedly declaring,” We’re going to develop the talent pool, double down on existing markets, start in X industry, increase the platform, invest in marketing, AND, I’m going to participate in a program to increase my entrepreneur skills ( be it on Effectuation Theory or anything else )”. That just does not occur.

So when Dhakshinamoorthy Balakrishnan or Dash reached out to me about the topic and how his search for more meaningful relevance in the world of startup entrepreneurship ( readers will recall that he used to be a pillar of the startup ecosystem in Malaysia ) had led him to believe that the introduction of the Theory of Effectuation and understanding how its application to their ventures can really help them, I still was n’t convinced. Even though he had now decided he was going to take the leading expert in this area, Prof Saras Sarasvathy, to Malaysia for a website on Tues, 22 Oct.

Yet though Dash has a sizable amount of social investment throughout his career, this is unfortunate. However, as they say, schedule is all, and as I recall my conversation with Dr. Hari Narayanan, CEO of Penang Skills Development Corp. and my doubts regarding whether exposing our habitat to the concept of effectuation might help, I recalled a recent conversation.

Hari, a skilled C-suite head with over 20 years of leadership and management expertise, including six decades as managing director at Motorola Solutions Malaysia, said something that really struck me. Over the course of my profession, I’ve come to the conclusion that management is what sets businesses apart from those with business success.

But perhaps there was something around. From the site effectuation. In the very unexpected startup phase of a venture, I discovered that effectuation is a a logic of innovative expertise  that both novice and experienced entrepreneurs can use to lower the cost of failure for the entrepreneur.

What made the fact that Efficient theory is a type of issue solving&nbsp, which was based on a mental science-based review of 27 owners of businesses ranging in size from US$ 200 million to US$ 6.5 billion that Sarasvathy conducted.

It turns out, what makes great businesses is n’t genetic or character traits, risk-seeking attitude, wealth, or perspective. Effectuation research has found that there is a&nbsp, science&nbsp, to enterprise and that great entrepreneurs across industries, geographies, and occasion use a&nbsp, popular logic, or thinking process, to address entrepreneurial problems.

So, maybe Dash was on to something. And that’s how I ended up with the ebullient Sarasvathy, the Effectuation guru herself, in a late-night chat.

She teaches MBA and doctoral courses in entrepreneurship at the University of Virginia’s Darden School of Business in Strategy, Entrepreneurship, and Ethics. Originally, she is a faculty member.

Although Sarasvathy has a lengthy resume, it would be remiss of me if I did n’t mention that she has the 2022 global award for Entrepreneurship Research, which is considered the highest level of recognition for research in the field of entrepreneurship. The Swedish Entrepreneurship Forum and the Research Institute of Industrial Economics ( IFN) award it.

Confession of an editor

Confession. I have a hard time interviewing academics, especially those who have established themselves in other fields of study. They are the only ones who are knowledgeable about their subject matter and are ready to answer questions until the cows arrive home. And, unlike startup founders, they love tough questions.

And so it was that I expressed my doubts about the relevance of a relatively unknown theory about entrepreneurial expertise to Malaysian business owners, not when Paul Graham, one of the most well-known names in the Silicon Valley, is currently the subject of the hot leadership debate in the startup world about” Founder Mode.”

Sarasvathy laughed. ” That’s like seven questions in there”. Predictably she did n’t break a sweat addressing my skepticism. ” Let me break that down into three parts”, she began.

But before this, I wanted to understand her motivation for wanting to research successful entrepreneurs, though she prefers to call them’ expert entrepreneurs’, for her doctoral dissertation. Turns out, her interest in learning what makes successful entrepreneurs the success they are comes from her own journey as a serial entrepreneur, being one of the founding teams of five different ventures spread across three continents.

She took a keen interest in the field of entrepreneurship after her fifth venture was destroyed by flooding, which led to her getting a Masters and a PhD right away, both in the US. The theory was developed after her dissertation on what made successful entrepreneurs the winners they are.

But first she corrects me, teacher style. ” Everyone tells me I came up with a theory, but the fact is that I did a big piece of research on the experiences of what I call expert entrepreneurs, out of which the theory came”, she explains.

That took three years, with Sarasvathy publishing the theory paper, as she prefers to call it, in 2001. ” The whole idea behind my research was to try to understand, what is it that entrepreneurs learn through their experiences, that we can also learn and then teach”, she said.

It took her time to understand how to teach the subject right, so this was n’t as simple as it sounds. It’s not a simple matter to conduct research before instructing.

She continued her investigation into knowledgeable businesspeople while creating educational materials. Not one piece of research is sufficient. ” A textbook came out in 2011 but between 2001 to 2011 we were continuing to gather data, do research and develop material with all the case studies”, she explained.

That’s a lot of work to truly comprehend and effectively teach the fundamentals of effectuation leadership. This demonstrated to me how seriously she was taking her work and how determined she was to try to capture the essence of what made “expert entrepreneurs” so prosperous in order to then be able to assist others in her classes.

Does anybody know what makes for a successful entrepreneur? Does Elon?

Now, even though we were not chatting face to face, it was a video call, but she anticipated my next question. ( Have to work on my game face. )

” The issue is not whether my theory is superior, and I can produce successful entrepreneurs,” That is the wrong question. Does anybody know this”?

You pick the most successful entrepreneur, say the founders of Airbnb or Elon Musk. Do they actually know, and can they create the next success ( in others )? The answer is No, she stresses.

Then I got the student treatment. I’m going to treat you for a moment like a student. Think deeply about that. Why is that”?

She claims that this is because the venture’s success or failure is indistinguishable from the entrepreneur’s success or failure. In fact, I teach my students that the most crucial lesson to learn is how to fail if you want to be a successful entrepreneur. And then, you know, build on a whole bunch of small failures, a whole bunch of small successes, so that you as an entrepreneur, over time, will be successful. So we have done quite a bit of work on really unpacking these relationships”, she said.

” Effectuation offers a different approach that emphasizes gaining from mistakes and accumulating small victories over time,” says the author.

And that is what participants at her coming forum on Tuesday,’ RethinQ Entrepreneurship – Build Effectual Entrepreneurs. Learn about the” Build Enduring Companies.”

It will be very different from what one would anticipate from an ordinary forum on entrepreneurship. It will be entirely worthwhile to watch Sarasvathy shake and challenge your understanding of what makes for successful entrepreneurship.

Sarasvathy, who believes her work is also very relevant in the world of entrepreneurship and startups, is convinced that the venture funding model, with its typical 10 % success rate, has failed. It has also been worth it for her.

The US has the oldest and most prosperous venture capital market in the world. You would assume they are knowledgeable about creating a successful business, no? False because they have a nine out of ten failure rate. However, most businesspeople will frequently ask you to make an introduction to them.

She contends that that the high failure rates of ventures, even those backed by venture capitalists, shows that traditional entrepreneurship education is not sufficient. She has something to offer that is more valuable.

Make the time. Attend RethinQ Entrepreneurship.

DNA is an ecosystem partner for RethinQ Entrepreneurship. Here are still available for purchase. You can listen to an interview Prof Sarasvathy

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SDEC 2024 advances Malaysia’s AI and semiconductor ambitions with major announcements and collaborations

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  • Agreements were signed for skill development, study &amp, cooperative projects
  • GEM Education pledged US$ 23 mil to ASEM, boosting M’sia’s silicon ecosystem

ASEM signed MoUs and Letters of Intent with 19 universities for talent development, research exchanges, and joint projects, strengthening academia-industry ties.

On the second day of the Selangor Smart City &amp, Digital Economy Convention ( SDEC ) 2024, which is a part of the Selangor International Business Summit ( SIBS ), Malaysia’s ambition to become a regional leader in AI and semiconductor technologies gained traction. It was organized by Selangor Information Technology &amp, Digital Economy Corporation ( Sidec). Important presentations emphasized the country’s commitment to digital technology, including the marketing of AI Nusantara to the Advanced Semiconductor Academy of Malaysia ( ASEM), which represents a further development of efforts to develop world-class ability in both AI and silicon areas.

The Day 2 meeting of SDEC 2024 was officiated by Hajjah Hanifah Hajar Taib, assistant secretary of Economy. Also provide was Ng Sze Han, Selangor State Executive Councillor for Investment, Trade, and Mobility, who delivered opening comment highlighting Selangor’s authority in driving revolutionary companies such as AI and electronics. A number of important announcements and initiatives were featured at the meeting to strengthen Malaysia’s position in the global technical landscape.

The marketing of AI Nusantara to the Advanced Semiconductor Academy of Malaysia ( ASEM) was a crucial show of the day. This achievement marks a significant step forward for Malaysia’s efforts to develop a strong talent pool in both silicon and AI technology. ASEM may focus on developing world-class ability and providing industry-relevant training, preparing Malaysia for a modern future driven by electronics.

Meanwhile, GEM Education announced a pledge to support US$ 23 million ( RM100 million ) for ASEM, underscoring its commitment to Malaysia’s growing semiconductor ecosystem. Malaysia’s position in the global semiconductor market is anticipated to be strengthened by this purchase, as well as the growth of cutting-edge skill and research.

More solidifying Malaysia’s authority in semiconductor technology, ASEM signed Memorandums of Understanding and Letters of Intent with 19 partner institutions. These agreements focus on cooperation in skill development, research exchanges, and shared projects, fostering a stronger relationship between academia and industry.

The event even recognised the completion of 30 instructors who have completed the Train-the-Trainer program. This program, run in partnership with Sidec, The Hive Southeast Asia, and Taiwan AI Academy, has upskilled teachers in semiconductor training, equipping them with the instruments to cultivate the next generation of tech professionals.

Additionally, the day honored the accomplishments of 450 individuals who successfully completed ASEM’s specialized training. These graduates have completed courses in fields like LLM Application Design and Object Detection, and they now possess the skills necessary to succeed as future tech leaders in Malaysia’s rapidly evolving digital economy.

Meanwhile, a series of panel sessions took place throughout the day, exploring potential across various industries. Top AI innovators were gathered for the” Battle of the AI Minds” talent competition, which was moderated by Dr. Ling-Jyh Chen from Taiwan AI Academy and Kamesh Raghavendra from The Hive. Participants presented AI solutions to real-world challenges, underscoring Malaysia’s commitment to developing global AI talent.

In another discussion, the generative AI in the cloud panel featured experts from AWS, SNS Network, and Exabytes, who shared insights on the rapid deployment of AI technologies via cloud infrastructure. Moderated by Denning Tan of GenAI Fund, the panel highlighted AI’s role in accelerating innovation across healthcare, smart mobility, and other key sectors.

The SDEC 2024 Exhibition showcased a diverse range of AI-powered technologies from over 200 exhibitors worldwide. It served as a hub for industry leaders, startups, and investors to connect and explore new opportunities in AI, robotics, and digital transformation. Business professionals and tech enthusiasts were attracted to the exhibition, which made it a key component of the convention.

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IDECS 2024 concludes with initiatives to drive Sarawak’s sustainable digital future

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  • 5 victors of Digital Economy Awards 2024 were presented with US$ 2, 300 each
  • signed MoUs with Macro Tech Ventures and Yayasan Hasanah to help local Enterprises

IDECS 2024 concludes with initiatives to drive Sarawak’s sustainable digital future

The Sarawak Government, together with the Sarawak Digital Economy Corporation, Sarawak Multimedia Authority, and Sarawak Information Systems, hosted the 7th International Digital Economy Conference Sarawak ( IDECS) 2024, gathering over 2, 500 participants to explore the impact of artificial intelligence ( AI ) in driving sustainable development.

Under the style” AI for Sustainable Development: Navigating the Green and Circular Future”, the occasion concluded after two weeks of debate and meetings. The conference, which took place between October 16 and October 2017, focused on the impact of AI on green technologies and circular economies, as well as learning from experts in the field of artificial intelligence ( AI ) for sustainability.

Haji Julaihi Haji Narawi, the minister for energy and telecommunications in Sarawak, acknowledged the importance IDECS plays in establishing organizations that are crucial to Sarawak’s financial growth. He continued,” In the past, IDECS has played a significant role in the development of significant organizations like the Sarawak Multimedia Authority and the Sarawak Digital Economy Corporation. These organizations have played a significant role in the development of initiatives and policies to advance Sarawak’s online business method.

At the closing gala dinner, the Digital Economy Awards ( DEA ) 2024, organised for the third time by Sarawak Multimedia Authority, were presented to recipients across five categories, each receiving a prize of US$ 2, 300 ( RM10, 000 ). The finalists include:

    Research &amp, Development Award: Universiti Malaysia Sarawak for developing a smartphone-based diabetes vision screening technique using profound understanding, with fantastic potential for remote care.

  • Evolving Brilliance Technologies Sdn Bhd for POMAS, a approach optimum control system used in the agriculture and coal credit industries, received a Technology Startup Award that coincides with Sarawak’s electric push.
  • MyContent Distribution Sdn Bhd, which promotes the local movie business and helps Sarawak videos get worldwide exposure through platforms like Netflix and Amazon Prime, is awarded the Micro Small Medium Enterprises Award.
  • Digital Government Award: Sarawak Civil Service Digitalisation Unit for its SCS Mobile initiative, enhancing government services ‘ digital transformation for greater transparency and efficiency.
  • Sustainability Award: Sarawak Forest Department for its Greening Sarawak Campaign, which incorporates AI and satellite systems for forest landscape restoration and aims to grow 35 million branches by 2025.

Additionally, the Premier’s Digital Economy Award, worth US$ 4, 600 ( RM20, 000 ), was awarded to a winner selected from the recipients of these categories. The award was established to recognize electronic initiatives that use AI to change Sarawak into a leading online society. Participants from various industries, including public and private industries, GLCs, Institutes of Higher Learning, NGOs, and individuals, were assessed based on factors such as online strategy development, project implementation, technology, and multi-stakeholder engagement.

Memorandums of Understanding ( MOUs ) with partners Yayasan Hasanah and Macro Tech Ventures were also included at IDECS 2024 to support local MSMEs and advance digital transformation. Another significant events included the Huawei-sponsored Digital Art Festival and video lessons for the Founder’s Forge and Capture the Flag programs, which emphasized youth involvement in innovation and security.

The prizes are” not only about honoring accomplishments but also about inspiring potential technology.” Sarawak’s online future lies in the hands of thinkers, inventors, and entrepreneurs – those who dare to think differently, work, and push the envelope in way that will bring about lasting change”, said Haji Julaihi.

” Through categories such as the Micro Small Medium Enterprise ( MSMEs ) Award, the Research &amp, Development Award, the Technology Start-Up Award, the Digital Government Award, and the Sustainability Award, we are shining a spotlight on those leading the charge in these critical areas”, he added.

Earlier in the day, witnessed by Roland Sagah, Minister for Education, Innovation, and Talent Development Sarawak, more Accords were signed, aimed at empowering regional MSMEs and driving online change. Yayasan Hasanah, Macro Tech Ventures Sdn Bhd, and Dynamik Technologies Sdn Bhd, among others, were the partners in the partnerships.

The immersive Huawei-sponsored Digital Art Festival was also available to school students and the general public. For the Founder’s Forge and Capture the Flag programs, there were demo and pitching sessions, among other notable activities. Founder’s Forge is a six-month pre-accelerator initiative aimed at early-stage entrepreneurs in Sarawak, emphasising innovation and business development, with pitches highlighting their progress. Meanwhile, Capture the Flag, a cybersecurity hackathon organised by Curtin University Malaysia and SDEC, provided insights into ethical hacking through real-time problem-solving.

Both programmes focused on fostering youth engagement in ethical, human-centred technological innovation and advancement.

In Haji Julaihi Narawi’s keynote speech, he underscored the vital role of innovation and digital transformation in Sarawak’s future, highlighting the Government’s ongoing efforts to harness AI and big data to drive economic growth, social inclusivity, and environmental sustainability under the Sarawak Post Covid-19 Development Strategy and Sarawak Digital Economy Blueprint 2030.

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Borong to invest US.4mil to boost Sarawak’s MSMEs and digital economy

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  • Strengthen footprint directly, grow globally via cross-border digitisation
  • Target 60k MSMEs that offer online tools to move their businesses from offline to online

SDEC CEO Ir. Ts. Sudarnoto Osman (left) with Aizat Rahim, co-founder of Borong at the signing.

At today’s 7th International Digital Economy Conference Sarawak, five other companies, including Sarawak Digital Economy Corporation ( SDEC ), and leading startup Macro Tech Ventures Sdn Bhd, which operates in the market under the name” Borong brand,” and a collaboration between five other companies. Many of the state’s MSMEs are now under the radar.

In a MOU signing Borong committed to invest US$ 17.4 million ( RM75 million ) via Digital Niaga, a credit financing scheme in collaboration with development banks BSN, Bank Rakyat, and Agrobank, to enable digitalization across Sarawak’s MSMEs, boosting local businesses growth.

The relationship between Borong and SDEC, according to Aizat Rahim, co-founder of Borong, is a good step in the direction of innovation and developing businesses in the modern time to improve Sarawak’s economic growth. ” We are committed to invest in Sarawak’s MSMEs to improve their footprint directly and grow globally via cross-border automation”.

SDEC CEO Ir. Ts. Sudarnoto Osman said,” The MOUs ( with Borong and the other five companies ) represent a critical step in Sarawak’s journey toward becoming a digital economy powerhouse. These partnerships are about more than just technology—it’s about empowering the group through modernization. By integrating digital options, we are equipping our regional businesses with the knowledge, support, and funding to thrive”.

Borong aims to transform over 60 000 Enterprises by providing online tools and resources that enable them to move their companies from offline to online. With an estimated average monthly purchase of US$ 92.8 ( RM400 ) each, with Borong providing RM1, 200 of credit financing for each MSME for three months, the RM75 million financing, “is just the beginning for us to catalyse the growth of these MSMEs in Sarawak”, said Lennise Ng, co-founder and CEO of Borong.

]RM1 = US$ 0.232 ]

” We are very satisfied with the outcomes when we have a stronger foundation to entice other colleagues to make more investments in MSMEs, not just in Sarawak but throughout Malaysia,” she continues. &nbsp,

Along with SDEC, Borong will carry knowledge, online training, and onboarding activities. These small businesses are being trained to use Borong’s retail and industry platforms to expand their global reach and profitability. Borong earns a small 2.5 % split from deals on its platform.

When incorporated into the Borong ecosystem, these Enterprises will have easy access to affordable financing that can be as low as 2.5 % per year. Borong and its banking partners have so far allocated over RM300 million in SME financing that is willing to be used and deployed.

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MyIX Strengthens Malaysia’s workforce with latest talent development programme

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  • aides in developing a long-term skills pipeline
  • Aims to provide grads, professionals with telco &amp, digital infrastructure skills

MyIX chairman Chiew Kok Hin (third, right) together with MyIX treasurer Ong Cheok Seong (second, right) and Forward College CEO Howie Chang (far right) with the 35 participants who have completed the exchange’s latest Talent Development Programme.

The most recent round of the Malaysia Internet Exchange’s Talent Development Programme came to an end, confirming its commitment to nurturing the country’s modern talent and strengthening its position as a leading tech hub in Southeast Asia.

In a speech, the trade said this Corporate Social Responsibility&nbsp, program, conducted in cooperation with Forward College and provided at no cost to participants, was designed to provide new graduates and early-career professionals with necessary industry skills in telecommunications and internet infrastructure.

Chiew Kok Hin, the program’s chair, stated that the program offered a complete seven-day education program that focused on pressing topics like Internet networks, program operations management, and emerging technologies like synthetic intelligence for traffic analysis and distributed denial of service mitigation.

He added that the MyIX commission is committed to giving back to the community by creating a green skills network in light of the growing demand for skilled professionals in Malaysia’s company and information business.

” This initiative contributes to MyIX’s efforts to ensure Malaysians have the knowledge and skills they need to excel in our nation’s rapidly expanding and evolving digital landscape,” said Chiew.

He added that” the demand for skilled professionals in the telco and internet sectors will only continue to grow as the digital economy continues to grow year after year. Through this programme, we aim to empower participants, equipping them with the tools they need to succeed”.

The 35 participants explored the intricacies of modern telecommunications and internet infrastructure, including core components such as IP networks, the backbone of data transmission and communication, and system operations management, ensuring the efficient functioning of these networks.

The inclusion of AI training additionally provided participants with cutting-edge insights into the role of AI in telecommunications, particularly in traffic analysis and cybersecurity.

Additionally, Howie Chang, CEO of Forward College, stated that it has been extremely rewarding to witness the significant growth and skill development in these young professionals.

” This intake also benefited tremendously from the AI module, providing participants with advanced insights into the role of AI in telecommunications, particularly in traffic analysis and cybersecurity”, he added.

” By bridging the gap between education and industry, we are helping to build the foundation for Malaysia’s future digital leaders. We look forward to continuing this collaboration”, Chang said.

By encouraging efficient traffic routing between local internet service providers and content providers, MyIX today plays a crucial role in modernizing Malaysia’s internet infrastructure. By continually engaging in initiatives like the Talent Development Programme, MyIX is actively contributing to the development of a skilled workforce, essential for the nation’s digital advancement.

MyIX emphasized that it is playing a role in making Malaysia a leading tech hub in Southeast Asia with its commitment to talent development and acceptance of emerging technologies. The organization’s efforts are intended to keep Malaysians in the forefront of technological advancement and promote a culture of innovation among its citizens.

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Malaysia’s public EV charging target is more a dream.. ‘We are very lonely’

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  • Govt’s encouraging rhetoric is n’t supported by practical steps to aid infra construction
  • Norway’s shift to EVs took 2 years of&nbsp, govt&nbsp, help before tapering down bonuses

All Malaysian interstate highways need to have sufficient public EV charging sites. But Charge Point Operators face many issues.

Talk is low. Even more so when it comes from the state, which therefore lacks the necessary policy, regulation, and funding resources to getting things moving quickly. Take Malaysia’s electric vehicle ( EV ) public charging ambitions which paint a picture of a green, sustainable future. &nbsp,

A vision, detached from reality

The government’s ambitious&nbsp, target, announced by Malaysian Green Technology Corp ( MGTC ) in late 2020, of 10, 000 public charging stations ( separate from home EV charging ) by 2025 reflects a nation ready to embrace the EV revolution. &nbsp,

But, the reality on the ground, where as of the first quarter of this year, just 2, 214 EV charging stations have been installed, based on Ministry of International Trade and Industry information, tells a starkly different story. As one Charge Point Operator ( CPO ) bluntly puts it:” We are very lonely”.

CPOs are organizations that install and maintain EV charging stations and offer charging service to EV owners. Businesses that sell house Electric charging stations are exempt from this definition. &nbsp,

This registration demonstrates the criss link between lofty objectives and the challenging challenges faced by those who have assumed the responsibility of creating Malaysia’s electric vehicle potential, mainly without government support. &nbsp,

It should come as no surprise that CPOs are struggling due to high import duties and a lack of power infrastructure, regulation challenges, and many agencies fighting for dominance in the sector.

One of the biggest burdens is the large import taxes that must be paid for transported equipment.

” We still have to pay at least 10 % buy duty”, says Puvanendren Maniam, COO of ChargEV Sdn Bhd, a leading Executive. These responsibilities, ranging between 10%-15 %, significantly increase prices for users.

Another key challenge is posed by the lack of sufficient power infrastructure, especially along highways where quick charging is most required to lessen “wait anxiety.” ” For 600 megawatts, you need to throw in a small power sub-station and that would cost us at least around RM300, 000″, Puvanendren said, illustrating the size of the problem.

And then there is the regulation confusion. ” There are no distinct requirements. There’s just rules”, Puvanendren points out. ” I may post everything according to the guide, and we can also get rejected”. This lack of clarity creates an environment of doubt, deterring funding and slowing development.

Malaysia's public EV charging target is more a dream.. ‘We are very lonely’No surprise that Chua SengTeong ( pic ), Managing Director of chargEV and Puvanendren’s boss, says that the road to electrification is fraught with obstacles.

Add to this the view problem. Chua documents,” the fact is, we’re building a key national network. Yet, we ( public EV charging players ) are viewed as startups ( by the government )”.

He shares some similarities with the mobile operators, who spent billions on developing wireless networks in the first to mid-1990s and received government support through low spectrum licensing costs. The government has little support for the expensive and labor-intensive project to build out open EV charging points, and there is no cash to bridge the gap while the market develops.

The essential requirement vehicle around, EV ownership is rarely at 2 % of total vehicles owned in Malaysia, according to 2023 Road Transport Department information. A sprinkling of optimism comes from recent studies by EY that shows 25 % of Malay are interested in purchasing EVs. Can the people EV charging companies survive while a market burgeons, though?

The three major players with 70 % market reveal

This explains why a small number of people dominate Malaysia’s people EV charging ecology, with chargEV and Gentari Sdn Bhd having deep-pocket kids. Yinson Bhd, an oil and electricity infrastructure person listed on Bursa Malaysia, which made RM6.3 billion in revenue in FY25 and RM741 million in key income, holds the majority of the stock in ChargeEV.

Gentari is owned by the federal fuel company, Petronas. Enough said.

A third player, EV Connection Sdn Bhd ( EVC ) which operates under the brand, JomCharge, has managed to carve some market share as well. EV Connection was founded in 2016 and is now owned by its leader, Lee Yuen How, who stated to DNA,” We have been successful as a business since Day One but on the CPO area we are still in the dark.” Gentari provided cash for the business in 2022. JomCharge has around 621 people demand items. &nbsp,

The Energy Commission of Malaysia established Charge EV in 2015, with Yinson purchasing a majority interest in 2023 for an undisclosed amount in 2021 after taking a majority interest in it. &nbsp,

Petronas founded Gentari in June 2022 with the intention of producing net-zero carbon pollution solutions using solar energy, gas, and clean mobility.

EVC&nbsp, is an EV charging and solar photovoltaic ( PV ) systems company. &nbsp, It installs, operates and maintains EV chargers for professional clothes, and communities and got into the business of operating its own people Vehicle demand points in 2022.&nbsp,

It is thought that the three people collectively control 70 % of the business.

The actuality- no obvious pathway to profitability

Public EV charging is not a market for the faint of heart especially when the government's three-year tax break incentive is deemed to be poorly thought out. With the main players expecting to be breakeven in eight years time, how many will be around to benefit from this 'incentive'?

While neither chargeEV, or EV Connection, nor Gentari have formally stated how much they have invested into their common Vehicle charging system, all three expect to see breakeven in about eight years time. &nbsp,

Public EV getting is not a business for the timid or those who have short-term objectives, especially when an “incentive” from the government is deemed to be terribly conceived. &nbsp,

The three-year duty crack incentive is simply no happening for us because we simply expect to break even eight years later, Chua said, referring to the government’s tax exemption that fails to address the long-term economic challenges faced.

Gentari sounds this attitude, drawing parallels with Norway’s EV trip. Its director claimed that it took nearly 20 years of continued efforts and government assistance before slashing the incentives. This demonstrates the time and effort required for for a change, suggesting that Malaysia’s EV charging infrastructure may require similar ongoing support to maintain and grow. But will the federal recognize this and act in response to it?

Gentari acknowledges that reaching the 10, 000-charging level destination by 2025 is ambitious, but it is doable, with the right regulation support, it said, despite operating the largest network of EV charging stations in Malaysia, with over 520 charging points spread across 131 locations nationwide. These include people points that are available to all EV drivers and secret points with access to certain users. &nbsp,

The Gentari spokesperson emphasized that” streamlining regulatory processes, particularly reducing approval times for projects, would be crucial to accelerating charger installation”.

The Ministry of Transportation ( MOT ) is the government entity best suited to cut through the bureaucracy, according to Prof. Dr. Vinesh Thiruchelvam, chief innovation and enterprise officer at Asia Pacific University, who also leads its renewable energy initiatives. &nbsp,

” MOT is best placed to govern ( policies, mandates, etc ) but the best agency for actual implementation should be under the Road Transport Department (RTD ) where planning is done, locality determined and specification outlined”.

RTD will undertake the task of working with power utility, TNB, along with locality ownership ( i. e R&amp, R PLUS etc ) with installation based on RTD/Sustainable Energy Development Authority specs so that on-road and in-premise ( hotels, malls, commercial buildings etc ) sites have the same standard implementation he added.

Gentari, while acknowledging the various challenges, has taken a proactive approach. The company is focused on strategically placing fast chargers in high-demand locations, including major cities and highways. To reduce range anxiety and set up multiple charging points at each location to accommodate growing demand, they want to install charging stations every 100 kilometers so that waiting times can be shorter.

‘ Contribution fee’ to TNB

The substantial upfront costs that CPOs must bear include costs for power infrastructure that they do n’t even own. According to Chua, CPOs are required to pay for the construction of substations and other types of power infrastructure, which then become TNB’s property. &nbsp,

For example, a compact substation capable of delivering 600 to 700 kilowatts of power can cost around RM300, 000. This is considered a” contribution fee” to TNB, but the CPOs do n’t retain ownership or control over this infrastructure. In other words, if another company wants to use the same substation later to power their EV charging points, they can contact TNB without paying the CPO who installed it or who installed it. &nbsp,

CPOs who must invest in infrastructure they do n’t own are now a significant financial burden, which could benefit their future competitors. Small wonder that the landscape is rife with smaller players, all of whom are struggling with the high capital demands and the rapidly evolving technology, according to an industry observer. &nbsp,

This underscores the urgent need for a more supportive government approach to building Malaysia’s public EV charging infrastructure, with the leading CPOs optimistic that Budget 2025 will bring them good news. &nbsp,

Zero education

The complete absence of public education and awareness campaigns is perhaps Malaysia’s most obvious oversight of its EV strategy. Unlike the concerted efforts seen in promoting 5G technology, there has been virtually no government-led initiative to educate the public about EVs and the charging infrastructure.

Due to the lack of accurate information, the field is vulnerable to misinformation and fear-mongering, especially on social media. According to Chua, “our team is responding to random questions based on the negative online impressions” for the most part. The lack of authoritative, fact-based education has allowed myths and misconceptions about EV safety and practicality to proliferate unchecked.

The national JomCharge network under, EV Connection. Lee Yuen How, CEO of EV Connection says that while the EV task force he is part sees the government and the agencies pushing hard to speed up the approval processes, there are some regulations that need to be amended and it will take some time for this to happen.

The only way forward

Despite the daunting challenges, industry leaders see a path forward for Malaysia’s public EV charging infrastructure. This path, however, demands a shift in approach and policy. Chua emphasizes the need for a holistic strategy:” We need a public-private partnership, whatever that means or what form, but it needs to happen otherwise, you know, it’s not going to work”.

The urgent need for regulatory clarity is at the heart of this strategy. Operators are thrown a maze of uncertainty due to the current patchwork of guidelines across various jurisdictions. ” The question we ask is very simple: who’s the guy that we actually talk to? There is n’t anyone dedicated to carrying the game”, Puvanendren said. &nbsp,

Lee of EVC&nbsp, said,” As part of the EV task force and also technical committee, we observe the government and the agencies are really pushing hard to speed up the approval processes. Some laws require amendments, and it will take some time for this to occur.

Another important pillar of the journey is financial incentives. The government needs to reevaluate how it goes about supporting this developing sector. The industry needs long-term support mechanisms, such as tax breaks and import duty exemptions for businesses installing charging facilities, to support it as it progresses.

Gentari advocates for more incentives for charging networks, such as tax breaks or subsidies for businesses that invest in EV charging infrastructure. In these incentives, they also recommend including Battery Energy Storage Systems ( BESS) to increase system flexibility and reliability. &nbsp,

Additionally, they suggest tax exemptions and cash incentives for battery electric vehicles ( BEVs ), as well as policies to encourage the gradual electrification of vehicle fleets, particularly for business operators. &nbsp,

Equally crucial is the solution to the issue of power infrastructure, and Puvanendren suggests a novel strategy that could speed up charging stations ‘ deployment. ” We could encourage the businesses ( retailers ) to get tax exemptions if they install charging facilities”. This approach could not only make charging stations more affordable, but it also reduced the burden on CPOs to spend. &nbsp,

Puvanendren elaborates that by incentivizing retailers to invest in charging infrastructure, the government could create a win-win situation. Retailers would gain from more customers and foot traffic, while CPOs could concentrate on running and upkeep the stations rather than having to pay the installation’s entire cost.

Gentari has already put in place a similar model, which offers a zero-capex model for public chargers, enabling businesses to host EV chargers at their preferred locations for public use with the least amount of money upfront.

Despite the daunting challenges, industry leaders see a path forward for Malaysia's public EV charging infrastructure. This path, however, demands a shift in approach and policy that emphasizes a holistic strategy.

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BuildXpo 2024 partners with Gamuda Berhad to showcase the future of sustainable construction 

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  • will include seminars on incorporating AI into building and green construction.
  • Focused” Innovation Hub” to highlight new businesses and emerging technologies that are shaping the construction industry.

BuildXpo 2024 partners with Gamuda Berhad to showcase the future of sustainable construction 

Gamuda Berhad will be a Silver Stakeholder for the future Malaysia International Building and Construction Industry Showcase, BuildXpo 2024, according to Qube Integrated Malaysia Sdn Bhd. The Malaysia International Trade and Exhibition Centre ( MITEC ) in Kuala Lumpur is hosting the event from October 22 through October 24, 2024.

The Malaysian External Trade Development Corporation ( MATRADE ), in addition to the support of the Malaysia Convention & Exhibition Bureau (MCEB), is responsible for the construction industry development board’s ( CIDB) Malaysian organizing activities.

Under the style” Envisioning the Future of Construction”, BuildXpo 2024 may show several industry segments and changes, including construction technology, supplies, equipment, machinery, and techniques. Visitors can expect to see improvements such as three-dimensional printing, technology, wise building techniques, and industrialised building systems.

Alexander Nanta Linggi, Malaysia’s minister of Works, emphasised the exhibition’s significance:” BuildXpo 2024 serves as a platform for business experts to discover innovative solutions that may drive the development business forwards. It aligns with the administration’s efforts to advance equipment and green growth while also highlighting the variety of career options for young people in the construction industry.

The show aims to foster technological advancement and innovation in the construction industry. Gamuda Berhad also plans to promote its experience in online change, renewable energy, and natural construction technologies during the exhibition. According to Justin Chin Jing Ho, managing director of Gamuda Engineering,” Our participation in BuildXpo 2024 reflects our commitment to showcasing cutting-edge sustainable construction practices and adopting cutting-edge technologies that advance the sector.”

The event is anticipated to attract over 15, 000 trade visitors and will feature approximately 500 booths hosted by around 200 exhibitors.

Executive chairman of Qube Integrated Malaysia Sdn Bhd, Richard Teo, pointed out that the partnership with Gamuda Berhad significantly improves their ability to present cutting-edge sustainable construction practices. ” BuildXpo 2024 goes beyond a traditional trade show. We’re creating a unique experience where visitors can first-hand experience the most recent construction technologies. BuildXpo will provide insights into the future of our industry, he added, from virtual reality demonstrations of smart building systems to live demonstrations of three-dimensional printing in construction.

BuildXpo 2024 will host a number of technical seminars on subjects like sustainable construction materials and the use of artificial intelligence in construction management, in addition to showcasing products and technologies.

Interessing parties can visit the official BuildXpo website for more information about BuildXpo 2024, including information on exhibitors and seminar schedules.

BuildXpo 2024 partners with Gamuda Berhad to showcase the future of sustainable construction 

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Mosti announces seven local startups as winners of MYHackathon 2024 Cohort 1 

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  • Programme received over 500 comments throughout Malaysia
  • Winners may get offers away to US$ 58, 000 &amp, 12 weeks of coaching

The winners of MYHackathon 2024 Cohort 1 (From left: TERRAAGRA, ParlimenAI and S1ASIAPAC, MOSTI secretary general, Dr. Hj. Aminuddin Hassim, V-Cred, minister of Science, Technology and Innovation, Chang Lih Kang, MOSTI deputy secretary general (Technology Development) Dr. Mohd Nor Azman Hassan, Team MVP, Norman Matthieu Vanhaecke, group CEO of Cradle, NGU Gen, Prigo X)

The Ministry of Science, Technology and Innovation ( Mosti ) and its agency, Cradle Fund Sdn. Bhd., have announced the seven finalists of the MYHackathon 2024 Cohort 1 program. The announcement was made during the AICB Center of Excellence’s final meeting in Kuala Lumpur.

The event was officiated by Chang Lih Kang, minister of science, technology, and innovation, who stated that the winners of Cohort 1 will receive conditional grants of up to US$ 58, 000 ( RM250, 000 ) to develop their pilot projects, along with one-to-one project implementation mentorship for the next 12 months. Additionally, all winners will work with the owners of the particular problem statements to improve their plan for implementing the solution.

In his opening target, Chang remarked that the MYHACKathon serves as an outlet for developing creative solutions for issues that the government and relevant organizations face. I am impressed by the caliber of the options that the members have provided. These concepts are not only practical but also creative, and they are in line with Malaysia’s dedication to developing Asia’s leading market and the Madani financial perspective.

” This is in range with efforts to strengthen skills development and strengthen the science, technology, creativity, and business ecosystem in the country”, he added.

The MYHACKathon 2024 initiative supports Malaysia Madani’s aspirations, which place focuses on the importance of development and regeneration in the pursuit of people-centred growth. I think some of these options have the potential to be made more widely and broadly in the future,” Chang said.

The MYHACKathon 2024 Cohort 1 highlighted seven issue statements submitted by several ministries and state agencies under the style” Hackathon Nasional untuk Malaysia MADANI.” It was launched on September 23, 2024. More than 500 registered organizations and businesses from Malaysia, including Sabah and Sarawak, submitted entries for the program. Before 23 finalists were chosen for the” Last Demo” display session, all participants went through a two-week shoe camp and one-on-one tutoring sessions from mentors.

Mosti announces seven local startups as winners of MYHackathon 2024 Cohort 1 According to Norman Matthieu Vanhaecke ( pic ), group CEO of Cradle,” The MYHackathon program provides an opportunity for tech talents in Malaysia to find solutions to various national challenges through creative and innovative approaches, aligning with the main goal of the programme to drive transformation and adapt digitisation in Government services in Malaysia,”

Cradle, who serves as the MYHackathon 2024 programme’s implementing company, believes that initiatives like this can advance the country’s technology ecosystem’s agenda for improved digital infrastructure and governance systems that prioritize the needs of the people.

According to Cradle, since its launch in 2020, the MYHackathon project, held every two centuries, has nurtured fresh skills among Malaysians and has become a system to develop assistance, innovation, and critical thinking among participants.

The Artemis Robot from A2Tech Sdn Bhd, which develops mechanical engineering products with artificial knowledge integration for first reconnaissance activities in search and rescue operations, and the Anti Drone Detection System from FlyBots Technology, which develops solutions for controlling drone intrusions intended for contraband or illegal surveillance in areas with limited access are two examples of successful solutions developed under this program.

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