Move over CHIPS Act, Stargate is the future – Asia Times

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The US$$ 500 billion Stargate AI system project, which was announced by US President Donald Trump, has sparked media coverage and stoked industry, deflecting attention from the less attractive details of TSMC’s initial chip factory’s opening, and suffocate the more contentious debate over the future of America’s high-tech restoration.

On January 21, the day after his inauguration, Donald Trump made an appearance with Oracle’s Larry Ellison, Softbank’s Masayoshi Son, and OpenAI’s Sam Altman to make an announcement that artificial intelligence will be the “largest AI system job by much in story… creating over 100, 000 National work about immediately,” as Trump put it. Given some of the responses it has generated, the film went “viral” – a suitable information.

In Abilene, Texas, 10 properties measuring half a million square foot are currently under construction, with additional 10 more on the drawing board, and additional ones will be constructed at locations that are being evaluated nationwide. These data locations may be full of machines equipped with Nvidia’s fresh Blackwell AI chips, which are made by Taiwan’s TSMC, the world’s top silicon manufacturer.

” I’m gonna support, a bit, through emergency pronouncements”, said Trump, “because we have an emergency, we have to get this thing built”.

” They have to make a lot of power, and we’ll make it possible for them to get that generation done pretty easily”, he added, “at their personal crops if they want”.

In other words, Trump intends to supersede power regulations that may put off the project, leading to a significant increase in power generation capacity driven by the purchase intentions of a select few big high-tech companies.

Oracle’s Ellison said,” Thank you, Mr President. We certainly couldn’t do this without you”. Altman and Son shared the sentiment. And they probably couldn’t, at least not as quickly and efficiently.

If Joe Biden or Kamala Harris had been attempting the project in the White House, it would likely have been hampered by attempts at social engineering and unionization of the workforce. For the same reason, Stargate is based in Texas, not California.

Masayoshi Son said,” We wouldn’t have decided, unless you won. Yesterday, we agreed. We signed. To achieve this, we would immediately begin deploying 100 billion dollars with the intention of making 500 billion dollars within the next four years, within your mandate.

As explained by OpenAI, the initial equity investments in Stargate will come from SoftBank, Oracle, OpenAI and MGX, the technology fund based in Abu Dhabi. The lead partners are SoftBank and OpenAI, with OpenAI acting as the company’s operational manager and SoftBank as its financial advisor. Softbank’s Son will be the project’s chairman.

Nvidia, Arm ( the British semiconductor design company owned primarily by Softbank ), Microsoft, Oracle and OpenAI are the project’s technology partners. Oracle, Nvidia and OpenAI will build and operate the computing system.

OpenAI has long-standing relationships with both Nvidia and Microsoft. In Japan, Softbank and Nvidia have partnered to set up a nationwide AI grid.

Following Trump to the podium, Ellison, Son and Altman talked about healthcare-related applications from AI-enabled cross-referencing of health records and procedures to cancer detection and treatment, including the development of mRNA cancer vaccines.

But there are other possibilities, including factory automation and national defense. The name Stargate, of course, is reminiscent of Elon Musk’s Starlink satellite company.

The stock market approves of the concept. Oracle’s share price was up 7.2 % on Tuesday and another 4.6 % in after-hours trading. The share price of Softbank Group increased by more than 10 % on Wednesday and by another 5 % on Thursday in Japan ( across the International Date Line ). The share prices of Nvidia, TSMC, Microsoft and server maker Super Micro also rose.

Stargate is pitched as a made-in-America-for-America project, but the Nvidia AI processors at the core of the data centers will be made by Taiwan’s TSMC, at first entirely in Taiwan, then partly in the US.

At its new factory in Arizona, where TSMC is most likely to manufacture integrated circuits, on January 10, TSMC began producing integrated circuits for Apple. AMD and Nvidia are likely to be its new customers. For the first time in our country’s history, our country’s leaders are producing cutting-edge four-nanometer chips on American soil, making American workers on par with Taiwan in terms of yield and quality, according to incoming commerce chief Gina Raimondo.

TSMC Chairman and CEO C C Wei, speaking to investors on the company’s 2024 earnings call on January 16, confirmed this:

” We were able to pull ahead the production schedule of our first fab in Arizona, building on the successful result of our earlier engineering wafer production. Our first fab, using N4 process technology and yield comparable to those of our fabs in Taiwan, has already entered high-volume production in 4Q ’24. We anticipate a smooth beginning of the manufacturing process because we are confident that our factories in Arizona and Taiwan will offer the same level of manufacturing quality and dependability.

Wei added that “our plans for the second fab and third fab in Arizona are also on track.” Based on the needs of our customers, these fabs will use even more advanced technologies like our N3, N2, and A16.

In plain English, this means that TSMC will be making 4nm chips in Arizona starting this year and progress to 3nm, 2nm and 1.6nm ( 16-angstrom ), probably by the end of the decade. In terms of 3nm production, TSMC is already ahead of Samsung and Intel, who are both likely to be 1 nm and smaller. TSMC currently makes Nvidia’s Blackwell AI processors using its 4nm process.

All of these process technologies were and are being developed and produced in Taiwan, close to the company’s R&amp, D, and where the procedure is well-established and the capacity is much larger. This suggests that regardless of any agreement Trump has with China, he won’t want to disrupt Stargate’s main production.

A retired Silicon Valley executive and advisor to the US government on the subject of high-tech competitiveness said,” The game with the current administration is zero-sum,” in response to the three executives ‘ praise for Trump.

And that it is given that Trump has already replaced and exceeded$ 500 billion in government funding after cutting more than$ 300 billion from the Inflation Reduction Act and Department of Energy loan programs under his administration, which were then replaced by$ 300 billion from the private sector.

A West Coast venture capitalist who is not a fan of Trump wrote in an email that” It’s all part of the mad scramble for more computing power and energy to fuel it… Remember Trump’s first term. He enjoys planning big announcements, which credit him with making investments that were already planned or that never occur. Everyone tries to ingratiate themselves with Dear Leader, but it’s all part of that. Because that’s what you have to do in an autocratic state” .&nbsp,

Elon Musk, CEO of Tesla, wrote on X,” They don’t actually have the money. SoftBank has well under$ 10 billion secured. I have that on good authority”. However, if there is one thing Son excels at, it’s raising money. In 2017, Softbank launched the Vision Fund, a technology-focused venture capital fund with more than$ 100 billion in capital – the world’s largest such fund at the time.

For Musk, whose xAI competes with OpenAI and has taken it to court, Stargate is a powerful new competitor. And perhaps worse than that, Ellison, Son and Altman – high-tech moguls like himself – now also have Trump’s ear.

If the build-out of Stargate’s data centers proceeds according to plan, Microsoft, Google and Amazon are likely to lose their first-mover advantage and oligopolistic profit margins in AI-related cloud computing. Oracle, which offers cloud computing services in 25 countries around the world, has a significant opportunity in this regard.

Another critic, physician and biochemist Robert Malone, has published an essay entitled” AI, mRNA, Cancer Vaccines and” Stargate”: Reality check. Curb your enthusiasm, and beware of grifters”.

He writes:” I can’t believe that we are being spoon-fed this hype from the likes of Oracle’s Larry Ellison… Having this guy lecture us on mRNA vaccines for cancer is over the top. &nbsp, This is so amazingly ( and dangerously ) naive that I can hardly believe I am hearing it”.

Maybe so, but Ellison, Son and Altman were delivering a pitch for AI infrastructure, not explaining the technology roadmaps of companies that will use their data centers. They may be overly optimistic, but they are genuinely interested in healthcare and think AI can contribute significantly to the analysis of sizable amounts of medical-related data.

Malone also criticizes “banking some brand-new” cancer moonshot” television programs named after science fiction TV shows.” So, is Stargate a wise use of money or a reckless boondoggle? In reality,$ 500 billion is nearly ten times the$ 52.7 billion in grants and loans provided by the CHIPS Act. Only time will tell.

Follow this writer on&nbsp, X: @ScottFo83517667

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NetApp appoints Kenneth Poh as country manager for Singapore and the Philippines

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  • Does lead NetApp’s businesses &amp, go-to-market strategy&nbsp,
  • Over 20 times of IT expertise with experience in store, AI &amp, large data

NetApp appoints Kenneth Poh as country manager for Singapore and the Philippines

NetApp®, the intelligent data infrastructure company, has appointed industry veteran Kenneth Poh ( pic ) as country manager for Singapore and the Philippines. Poh will be in charge of operations and go-to-market plans, with an emphasis on fostering business expansion and increasing companion and customer relationships in both markets.

As AI increasingly integrates into daily life, nearly half ( 49 % ) of technology executives in Singapore prioritise investment in data management and infrastructure, according to NetApp’s 2024 Data Complexity Report released in December.

But, long-term victory in AI requires organisations to tackle important challenges, including data difficulty, security, and conservation, with greater commitment and resources.

” I am delighted to welcome Poh to NetApp. His remarkable track record of guiding businesses and helping organizations harness the power of information makes him the ideal leader to unlock the full potential of our customers. With his command, I am confident we can scale our activities and reach our progress ambitions in Southeast Asia”, said Henry Kho, place vice president and general director for Greater China, ASEAN, and Korea, NetApp.

” It is a pleasure to meet NetApp, a consistent president in the data backup industry”, said Poh. With the introduction of Singapore’s National AI Strategy 2.0 and the Philippines ‘ National AI Roadmap, the location is at a new chapter in its development. Leveraging NetApp’s 30 years of technology and knowledge, I look forward to helping companies become more innovative and tenacious in today’s age of data and knowledge”.

Poh brings over 20 years of IT industry practice, specialising in store, AI, and great information. Prior to joining NetApp, he spent time at Dell Technologies as city director for the public and corporate segments, where he oversaw a strong sales team and encouraged business expansion. Poh has even held management roles at foreign IT companies, including Dell EMC, Oracle, HP, and Sun Microsystems.

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LoopMe continues to invest in its APAC operation following sustained growth

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  • chooses past MiQ SEA managing chairman to lead APAC.
  • Tasked with driving progress across APAC, focusing on Australia, SEA &amp, China

LoopMe continues to invest in its APAC operation following sustained growth

LoopMe, a leading technology company using artificial intelligence ( AI ) to enhance brand advertising performance, has announced continued expansion of its APAC operations. The business achieved a fully organic gross revenue CAGR of 40 % between 2018 and 2024 and, together with Chartboost, has now generated more than US$ 2 billion ( RM8.9 billion ) in gross revenue.

Entering a new phase of development, LoopMe is opening a local business, recruiting ability to help its development plans, and pursuing acquisitions to strengthen its position for 2025, the organization said in a declaration.

To support its APAC ambitions, James Parker ( pic ) has been appointed as the new head of APAC. Based in Singapore, Parker, previously managing director of Southeast Asia at MiQ, will generate business progress across APAC, with a emphasis on Australia, Southeast Asia, and the Greater China Region.

With a new business in Melbourne, LoopMe has likewise expanded its footprint in Australia. HS Shin has been appointed top sales manager, taking the opportunity to expand its customer base in Victoria and beyond. Also, the Sydney business has been strengthened with the appointment of Alicia Placer as revenue manager, who will concentrate on fostering growth with separate agencies and company holding groups.

This funding follows LoopMe’s subsequent acquisition of Chartboost, a mobile marketing and crowdfunding system. The merger brings ashore a group of mobile apps experts and cutting-edge systems, further solidifying LoopMe’s existence in the mobile application and gambling markets. By tapping into cellular in-app as a vital growth area for model marketing, the deal opens up new online opportunities.

The acquisition complements LoopMe’s Audience and Measurement platform ( AMP), launched last year after several years of development. AMP enables advertisers to build customized viewers using survey data, range them using LoopMe’s AI capabilities, and use assessment tools to monitor progressive company growth and conversions for campaigns of any length. In APAC, AMP is anticipated to increase development, with an emphasis on strengthening product integrations with regional company partners.

” 2024 has been important for our company, marking a new book in our development”, said Stephen Upstone, CEO and founder of LoopMe. ” Building on seven years of consistent healthy growth, we’ve seized a powerful M&amp, A chance to expand our development. Our development plans are largely based on APAC, and we believe there is a lot of potential for expanding regional growth opportunities.

” With Parker taking over as head of APAC, we are assured that our business in this region will continue to grow successfully. We enthusiastically welcome Parker, Shin, and Placer to the LoopMe team”.

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Trump’s Stargate a bold reach for AI’s next frontier – Asia Times

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In one of his first moves as the 47th President of the United States, Donald Trump announced a new US$ 500 billion project called Stargate to accelerate the development of artificial intelligence ( AI ) in the US.

The job is a collaboration between three big tech companies – OpenAI, SoftBank and Oracle. Trump called it “the largest AI infrastructure project by far in history” and said it would help keep “the future of technology ” in the US.

Tech businessman Elon Musk, however, had a different take, claiming without evidence on his system X that the project’s donors “don’t really have the money. ” X, which is not included in Stargate, is even working on developing AI and Musk is a foe to OpenAI CEO Sam Altman.

Alongside announcing Stargate, Trump even revoked an executive order signed by his father Joe Biden that was aimed at addressing and controlling AI challenges.

Seen together, these two techniques embody a culture prevalent in software development that can best be summed up by the word: “move fast and break things. ”

What is Stargate?

The US is now the world’s pioneer when it comes to AI advancement. The Stargate task will considerably extend this guide over different nations.

It will see a system of data centres built across the US. These centres will building massive computer machines required for running AI applications such as ChatGPT. These machines will operate 24/7 and may require significant amounts of electricity and water to work.

According to a speech by OpenAI, construction of new data locations as part of Stargate is currently underway in the US state of Texas:

[ W]e are evaluating potential sites across the country for more campuses as we finalise definitive agreements.

US President Donald Trump speaking at the White House alongside Softbank CEO Masayoshi Son, Oracle chief technology officer Larry Ellison and OpenAI CEO Sam Altman.   Photo: Julia Demaree Nikhinson

An inadequate – but encouraging – order

The increased funding into AI growth by Trump is encouraging. It may help improve the many possible benefits of AI. For instance, AI may increase cancer patients ’ prognosis by quickly analyzing clinical information and detecting early signs of illness.

But Trump’s continuous renewal of Biden’s professional get on the “safe, safe and reliable development and use of AI” is deeply concerning. It could mean that any potential gains of Stargate are immediately trumped by its potential to exacerbate the existing affects of AI systems.

Yes, Biden’s get lacked critical technical details. But it was a tempting start towards developing safer and more responsible AI techniques. One big problem it was meant to address was tech firms collecting personal information for AI education without second obtaining acceptance.

AI techniques collect information from all over the internet. Even if data are readily available on the internet for individual use, it does not imply AI systems may use them for training. Moreover, when a picture or word is fed into an AI unit, it cannot be removed. There have been many instances of  artists suing Artificial craft generators  for  the unauthorised use  of their labor.

Another problem Biden’s get aimed to address was the risk of harm – especially to people from minority areas.

Most Artificial devices aim to increase accuracy for the majority. Without proper pattern, they can make really dangerous choices for a few.

For instance, in 2015, an image-recognition algorithm developed by Google immediately tagged pics of black individuals as “gorillas. ” This equal concern was later found in AI techniques of other organizations such as Yahoo and Apple, and remains unanswered a century later because these methods are so often incomprehensible actually to their creators.

This opacity makes it crucial to design AI systems correctly from the start. Problems can be deeply embedded in the AI system itself, worsening over time and becoming nearly impossible to fix.

As AI tools increasingly make important decisions, such as résumé screening, minorities are being even more disproportionately affected. For example, AI-powered face recognition software more commonly misidentifies black people and other people of color, which has led to false arrests and imprisonment.

YouTube video

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Faster, more powerful AI systems

Trump’s twin AI announcements in the first days of his second term as US president show his main focus in terms of AI – and that of the biggest tech companies in the world – is on developing ever faster, more powerful AI systems.

If we compare an AI system with a car, this is like developing the fastest car possible while ignoring crucial safety features like seat belts or airbags in order to keep it lighter and thus faster.

For both cars and AI, this approach could mean putting very dangerous machines into the hands of billions of people around the world.

Armin Chitizadeh is lecturer, School of Computer Science, University of Sydney

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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EdgePoint, Sunway deploy Malaysia’s first indoor 5G network in a commercial building at Sunway Pyramid Mall

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  • Deployed Active In-Building solutions to improve 4G and help 5G
  • In 2025, 5G protection may increase throughout the store for smooth connection

Sunway Pyramid Mall

EdgePoint Towers Sdn Bhd, piece of EdgePoint Infrastructure, a leading Asean-based separate telecommunications infrastructure firm, in partnership with the Sunway Group, has deployed Malaysia’s initially domestic 5G network in a business building. This future-ready in-building coverage solution ( IBC ) is an extension of Sunway’s telecommunications infrastructure upgrade to enhance connectivity in prime commercial areas in Sunway City, Kuala Lumpur, including Sunway Pyramid Mall & Protocol Centre and Sunway Medical Centre.

As part of the collaboration, EdgePoint deployed Active In-Building Solutions to complement the existing Passive Distributed Antenna System ( DAS ), improving 4G coverage and introducing high-speed 5G connectivity. The original test includes 5G-enabled wifi protection in high-traffic places such as food and beverage stores, restaurants, and cafés. Programs for the year include expanding 5G coverage throughout the store to give faster, smooth connectivity for guests and businesses.EdgePoint, Sunway deploy Malaysia’s first indoor 5G network in a commercial building at Sunway Pyramid Mall

Muniff Kamaruddin ( pic ), CEO of EdgePoint Towers, said, “EdgePoint has enjoyed a mutually beneficial relationship with the Sunway Group, and this collaboration to upgrade Sunway Group’s buildings with 5G-ready technology is a natural next step for us. We hope the success of this action will serve as an effective 5G alternative apply case for different large, multi-purpose commercial businesses major about enhancing communication, user experiences, and productivity levels. We look forward to continuing to pull 5G implementation throughout the Klang Valley. ”

Anandan Balakrishnan, CEO of Sunway Digital Wave Sdn Bhd, commented, “As one of Southeast Asia’s leading businesses, our goal is to build lasting settlements and populations by finding inventive ways to create stimulating, safe, and related conditions. Quick, trusted, and seamless communication is key to realising that perspective and enabling our plans to support organizations, clients, and residents within Sunway City. EdgePoint’s future-ready, customized in-building techniques and their operating preparation made them the perfect partner to accomplish our shared vision of creating a well-connected setting for people. ”

He added, “Our priority is to ensure that our customers enjoy all modern-day conveniences afforded by high-speed internet connectivity. Currently, users of Malaysia’s largest mobile network operator can experience seamless 5G connectivity, and by the year-end, all shoppers at Sunway Pyramid Mall will benefit from unlimited, ubiquitous 5G. Being the first commercial building to offer seamless indoor 5G connectivity is a proud milestone for this collaboration. ”

Muniff concluded, “We are glad to partner with industry leaders to deliver this national first. This collaboration reaffirms our commitment to supporting businesses and the nation in building one of the best-performing and most reliable 5G networks globally. From nationwide network coverage to deploying targeted 5G solutions tailored to one of Malaysia’s largest conglomerates, the Sunway Group, our efforts will continue. ”

EdgePoint Infrastructure is the fastest-growing multi-country tower company in Asean, with a portfolio of 15,600 sites, making it the second-largest tower company in Malaysia.

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DigiCert appoints new APAC group vice president

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  • Brings deep experience in selling command across APAC
  • Tasked to generate customer wedding, perform development plans

DigiCert appoints new APAC group vice president

DigiCert, a leading global provider of digital trust, has announced the appointment of James Cook ( pic ) as APAC group vice president. The new rent reflects DigiCert’s dedication to meeting the growing demand for digital confidence and endurance in this high-growth area.

Cook did lead his team in driving client wedding, building partnerships, and executing DigiCert’s development strategy as the world leader in digital confidence. His visit comes at a time when companies around the world are prioritising solutions that maintain secure communications, protect data, and foster endurance across an extremely sophisticated digital environment.

Cook brings strong skills in sales management across the APAC place, having served as vice president of Sales for APAC at Entrust and as local sales director for Australia and New Zealand. Before Entrust, Cook spent more than a decade at Thales eSecurity, where he held numerous management functions across the UK and India.

“ What excites me most about DigiCert is the opportunity to be part of a company that is uniquely positioned to address the accelerating demand for digital trust, ” said Cook. “Organisations in APAC are facing increasing challenges around cybersecurity and modern change, and DigiCert’s solutions for PKI, classical eagerness, and modern respect make it a great day to be a part of the business ’s vision. ”

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Qlik appoints Maurizio Garavello as senior vice president, Asia Pacific & Japan 

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  • Achieves Geoff Thomas, who is retiring after almost six times in the position
  • Brings 20 years ‘ experience in sales, channel management & businesses

Qlik appoints Maurizio Garavello as senior vice president, Asia Pacific & Japan 

Qlik®, a global leader in data integration, data quality, analytics, and AI, has announced the appointment of Maurizio “Maury ” Garavello ( pic )  as senior vice president for Asia Pacific and Japan ( APJ). Reporting immediately to Casey George, executive vice president for global revenue, Garavello did lead Qlik’s operations in the APJ area, focusing on driving progress, strengthening customer relationships, and advancing the deployment of AI-powered solutions.

With considerable knowledge in scaling companies, Garavello may play a vital role in enabling Qlik to capitalise on the growing need for AI-driven technology across APJ.

The Asia Pacific and Japan area is a powerful and strategically important industry where businesses are adopting AI at an extraordinary pace to change operations and get a competitive edge. Qlik’s solutions provide the necessary data inclusion and analytics foundations to assist organisations funnel AI’s ability and deliver quantifiable business value.

Garavello will handle Qlik’s profits and go-to-market techniques in APJ, focusing on fostering solid customer and partner communities while ensuring sustainable development. He succeeds Geoff Thomas, who is retiring after nearly six years in the role. Garavello’s leadership experience with high-performance, cross-regional teams positions him to unlock the region’s potential and further Qlik’s mission of helping organisations leverage data for tangible results.

Garavello brings over 20 years of experience in sales, channel management, and commercial operations. At Eptura, he scaled the APJ business and strengthened enterprise relationships. As vice president for APJ at Dynatrace, he significantly expanded the company ’s regional footprint. Beginning his career at IBM, he combines technical expertise with strategic business insight.

“We are delighted to welcome Maurizio Garavello to lead Qlik’s efforts in APJ, ” said George. “Garavello’s proven ability to scale businesses and his deep understanding of the APJ market make him the ideal leader to drive Qlik’s growth. His leadership will strengthen our presence and help organisations in the region unlock transformative business value through AI and analytics. ”

“I’m excited to join Qlik and support businesses in APJ in leveraging AI to achieve measurable success, ” Garavello said. “Qlik’s solutions are uniquely positioned to deliver real business outcomes, and I look forward to contributing to the company ’s continued growth in this important market. ”

Garavello’s appointment underscores Qlik’s commitment to empowering organisations in APJ to thrive in a competitive, AI-driven landscape. His leadership reinforces the company ’s focus on delivering tailored, transformative solutions for the region’s unique opportunities.

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Boost records strong growth in 2024, sets sight on becoming a regional digital banking group  

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  • Raise achieved a GTV of over US$ 1. 2 billion in 2024
  • Boost Bank secured over US$ 157M in payments within 6 months of its launch 

Boost's senior leadership highlights key milestones and upcoming plans during the Boost Year in Review 2024 media event

Boost, a leading provincial finance person, closed 2024 on a high word, achieving major milestones that cement its position as a transformational leader in the modern economic landscape. With a strong focus on innovation, convenience, and economic participation, the business has continued to evolve its choices, creating a seamless habitat that inspires individuals and small businesses everywhere.

Looking to the future, Boost highlights its passion to transition into a local online banking group, aiming to design the next frontier of online banking and financial services in Southeast Asia.

Riding the speed of a flourishing digital business

According to the e-Conomy SEA 2024 report, Southeast Asia’s digital financial services ( DFS ) sector is expected to generate US$ 33 billion ( RM146. 8 billion ) in income, driven by popular adoption of QR bills and online banking. Boost has capitalised on this growth, with Boost Bank securing over US$ 157 million ( RM700 million ) in deposits within six months of its launch and Boost PayFlex disbursing more than US$ 54 million ( RM240 million ) since its introduction.

[RM1 = US$ 0. 224]

These successes reflect Boost’s ability to deliver impressive financial options that resonate with consumers. Demonstrating its robust performance, the company recorded a Gross Transaction Value ( GTV ) exceeding RM5. 6 billion for the year.

Sheyantha Abeykoon, party CEO of Boost, said: “2024 was a landmark year for Boost, solidifying our position as a leading finance person with an expanded set of companies, including banks items. Our growth reflects the trust our users and partners have placed in us and the increasing demand for innovative digital financial solutions. ”

“With our expanding services, including lending, payment gateway offerings, deposits, and investment products via embedded finance, we are uniquely positioned to drive meaningful impact for small businesses and consumers. As Southeast Asia’s digital economy thrives, Boost remains committed to delivering accessible and transformative financial solutions,” he added.

Pioneering digital banking and embedded finance solutions

In June 2024, Boost Bank, Malaysia’s first homegrown digital bank, launched with the mission of revolutionising financial access for underserved and unbanked communities. With features like RM1 account openings, competitive daily interest rates, and Savings Jars, the bank has gained significant traction, empowering users to better manage their finances. Seamless onboarding has made Boost Bank a leader in embedded banking, with 80 % of its users coming through the Boost app.

Strategic partnerships with major players, including MYDIN, CKS Retail, Servay, Bataras, Farley, and CelcomDigi, have contributed to the bank’s success, with these collaborations accounting for 40 % of overall deposits since launch.

Fozia Amanulla, CEO of Boost Bank, remarked: “The launch of Boost Bank is a significant milestone, not just for us but for Malaysia. It’s about more than deposits; it ’s about creating a platform that empowers individuals and businesses to thrive. ”

She added: “Our strategic partnerships have been key to reaching underserved communities and empowering them to bank digitally. Through innovative digital banking solutions, we aim to unlock greater economic opportunities nationwide, ensuring no one is left behind. ”

Empowering businesses and consumers through lending and seamless transactions

Boost continues to drive financial inclusion across Southeast Asia, offering innovative solutions for businesses and consumers. Its lending portfolio has surpassed RM5 billion in loans disbursed to thousands of micro, small, and medium enterprises ( MSMEs ) in Malaysia and Indonesia, helping them bridge funding gaps and achieve sustainable growth.

Boost PayFlex, a Shariah-compliant Buy Now, Pay Later ( BNPL) product, has onboarded over 121,000 customers and disbursed more than RM240 million since its launch. As Southeast Asia’s BNPL market is forecast to reach US$ 53. 2 billion by 2027, Boost PayFlex is well-positioned to capitalise on this trend, advancing financial inclusion while promoting responsible financing.  

Expanding regional presence: Indonesia and Cambodia

Boost is expanding its Southeast Asian footprint with tailored financial solutions for each market. In Indonesia, it has extended its strong support for MSMEs by venturing into consumer lending through strategic ecosystem partnerships. In Cambodia, Boost has partnered with Smart Axiata to introduce a consumer lending programme, leveraging Smart Axiata’s extensive network to address financial access gaps and empower underserved communities.  

These regional expansions align with projections that digital lending in Southeast Asia will continue to grow significantly through 2025, further driving economic growth and financial inclusion.

Looking ahead: Boost’s vision for 2025

With Southeast Asia’s digital financial services sector projected to grow at a compound annual rate of 31 % through 2025, Boost is poised to lead the next wave of innovation by integrating embedded banking solutions and making financial services more accessible and impactful.

Boost Bank is set to build upon its existing offerings and roll out new, financially inclusive products to be at the forefront of financial empowerment. This product expansion roadmap will include consumer loans as well as other innovative products to financially empower MSMEs. The company will expand its partnership ecosystem and prioritise serving underserved and unbanked populations. On the lending front, Boost PayFlex will strengthen its position in the BNPL segment by promoting responsible lending and enabling financial freedom for consumers.

By delivering innovative digital solutions tailored to real-world challenges, Boost aims to unlock lasting economic opportunities and cement its leadership in Southeast Asia’s financial landscape.

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iMotorbike completes Series A funding with USD million to drive regional growth

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  • Round led by Headline, with contribution from 500 Global, Gobi Partners etc
  • Funding will grow iMotorbike with facilities and shops in Penang & Johor

(From left to right: Gil Carmo and Sharmeen Looi, co-founders of iMotorbike, Akihiko Okamoto, partner of Headline Asia and Brian Yen of Headline Asia principal)

iMotorbike, Southeast Asia’s leading motorcycle platform for buying and selling pre-owned motorcycles, has announced the completion of a US$ 10 million ( RM44. 6 million ) Series A funding large. The round was led by Headline, a worldwide venture capital firm renowned for backing revolutionary B2B and B2C projects, with contribution from other popular investors, including Ondine, 500 Global, Gobi Partners, Astor Management, and Endeavor Catalyst. The Series A revenue was completed in two tranches: the first in June 2023, and the most recent large led by Headline.

Akihiko Okamoto, companion at Headline Asia, said: “iMotorbike has demonstrated extraordinary vision and murder in addressing cracks in the pre-owned scooter business. Their emphasis on quality, accountability, and customer satisfaction has established them as the head in this growing industry. As they prepare to provide new lands and develop across Southeast Asia, we are excited to help their trip and see them continue to innovate. ”

This financing will help iMotorbike’s rise in Malaysia, where the business plans to open new examination centres and shops in important locations, including Penang and Johor. Also, the funding will allow workforce development, with plans to hire competent mechanics and operations staff. Beyond Malaysia, iMotorbike is also planning to establish a new unit in Taiwan.

“We initially invested in iMotorbike in 2017 and remain confident that the world used motorcycle market may be adaptable as riders seek economical and reliable solutions amid financial uncertainties. As early movers, Carmo and his team have spent the past eight years creating a blueprint for trust and comfort in the motorcycle industry, positioning them to lead this freedom pattern far beyond Southeast Asia, ” said Khailee Ng, managing companion at 500 Global.

Fast growth and expansion

iMotorbike’s growth in Malaysia has been accelerating, bolstered by the launch of its Glenmarie showroom in 2024, a three-storey, 46,806-square-foot facility in Selangor. Co-founded by Gil Carmo and Sharmeen Looi, iMotorbike reached a significant milestone in 2024, serving 10,000 customers and becoming the go-to platform for motorcycle enthusiasts across Southeast Asia. Its growing online presence, particularly on TikTok, where content has garnered up to 1. 6 million views, has further cemented its popularity among digital-savvy users. By seamlessly integrating online and offline experiences, iMotorbike ensures a smooth trading journey, offering a trusted platform for buying, selling, and trading motorcycles.

Randolph Hsu, co-founder of Ondine Capital, commented: “As the lead investor in iMotorbike’s previous funding round, we are proud to support them with a super pro-rata investment in this new round. We have witnessed their remarkable growth and unwavering commitment to transforming the motorcycle market in Asia. We are confident in their vision, leadership, and ability to deliver value to clients. We foresee iMotorbike further strengthening its presence locally and internationally, and Ondine Capital will continue supporting them by bridging resources across Asia. ”

Since its founding in 2016, iMotorbike has established a strong presence in Malaysia and Vietnam by prioritising customer trust and convenience. Features such as a comprehensive 170-point inspection, a six-day return policy, and a six-month warranty have solidified its reputation as a reliable, customer-focused platform.

Looking ahead

Commenting on the funding, Gil Carmo, co-founder and CEO of iMotorbike, said: “ From day one, our goal has been to create a platform that people can trust, whether buying or selling motorcycles. This funding validates the work we’ve done and the potential of pre-owned motorcycles in Southeast Asia. With this investment, we are excited to take iMotorbike to the next level. ”

He continued: “Beyond expanding our footprint in Malaysia and launching in Taiwan, we will continue improving our platform and scaling our operations to meet growing demand. We are deeply grateful for the trust our investors and customers have placed in us and remain committed to setting new standards within the industry, making pre-owned motorcycles more accessible and hassle-free for everyone. ”

Looking towards 2025, iMotorbike is steadfast in its mission to provide a trusted, seamless platform for motorcycle transactions. With new markets on the horizon and an expanded team, the company is poised to sustain its impressive growth and solidify its leadership across Southeast Asia and beyond.

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The Access Group appoints Lim Chee Gay to lead Kuala Lumpur operations, reaffirming commitment to Malaysia expansion

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  • Most recently, the world main human resources officer at TDCX
  • The new release aims to create over 1,000 careers in Kuala Lumpur by 2027

The Access Group appoints Lim Chee Gay to lead Kuala Lumpur operations, reaffirming commitment to Malaysia expansion

The Access Group, one of the UK’s largest business management software providers, has appointed Lim Chee Gay ( pic ) as the new managing director of its Global Operations Centre ( GOC ) in Kuala Lumpur, Malaysia, effective 1 January 2025.

n a speech, the business said this interview marks a major breakthrough in its regional and global development plan. Following the launch of its fresh GOC in November 2024, the centre, along with other Access GOCs worldwide, will support 40 % of the Group’s global staffing needs and deliver quality in product architecture, customer support, consumer success, sales, selling, and activities.

Lim’s appointment reflects the group ’s ambition to build a worldwide network of innovation hubs that empower customers, get best talent, drive improvements in goods and AI, accelerate revenue growth, and deliver operating excellence. Through the recently launched GOC, Access expects to produce over 1,000 new jobs in Kuala Lumpur by 2027, aligning with Malaysia’s present services goals to build an efficient and experienced native talent pool and create 500,000 high-value online jobs by 2025.

Driven by a passion for innovation, Lim brings extensive experience in scaling operations and driving transformation in dynamic industries. Most recently, he served as global chief human resources officer at TDCX, a Singapore-based business process outsourcing leader, where he helped grow the company from 3,000 to 19,000 employees and established 10 new operational sites within seven years.

With a 29-year career spanning leadership roles at organisations such as AIA, Samsung, T-Systems, and Intel, Lim has been instrumental in driving growth, innovation, and transformational initiatives. Recognised as one of Southeast Asia’s HR Icons, he is also an adjunct professor and advisory board member at several universities, reflecting his commitment to nurturing future talent.

Commenting on his new role, Lim said: “Access has a clear vision as a premier technology solutions provider, delivering exceptional value through operational excellence and innovation. This is an exciting time to join Access, following the outstanding local response in Malaysia and the wider APAC region to our launch.

“We have a strong foundation to build upon, and now is the perfect time to deepen our community connections and deliver even greater value to our customers. I am committed to making our new GOC world-class and look forward to working with our talented team to grow the business and attract the best talent across APAC, ” he added.

Chris Bayne, CEO of The Access Group, said: “Our GO Centres in Loughborough, Timișoara, and Kuala Lumpur are instrumental in driving innovation, enabling faster M& A integration, and delivering exceptional customer experiences on a global scale. We are delighted to welcome Lim to the group. Under his leadership in Kuala Lumpur, we are confident he will further strengthen its position as a critical hub in our global network, fostering collaboration, innovation, and excellence. ”

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