Axiata Group, Sinar Mas in MOU to explore merger of XL Axiata and Smartfren in Indonesia

  • Both parties intend to continue to hold the position of MergeCo’s combined controlling owners.
  • Major value to occur from combined level, competencies, finances and expertise

View of Bandung, a major city in Indonesia. MergeCo is expected to deliver superior customer experience in the telecommunications sector and create additional shareholder value including through synergies from the combined operations of XL Axiata and Smartfren.

Axiata Group Bhd, PT Wahana Inti Nusantara ( WIN), PT Global Nusantara ( GND), and PT Bali Media Telekomunikasi ( collectively referred to as the Parties and each a Party ), announced on May 15 that they have signed a non-binding MOU to explore the possibility of a merger between XL Axiata and Smartfren in order to form a new entity ( MergeCo ). With both Axiata and Sinar Mas wanting to continue to be shared controlling shareholders of MergeCo, the proposed deal is still in its early stages of examination.

The Events make it clear that there is no guarantee that the parties ‘ ongoing discussions will lead to the signing of any legally binding documents or the closing of the proposed deal. The main tasks that will be carried out during the experimental period governed by the non-binding MOU will be the valuation of the merger logic and value development to shareholders, due diligence, the preparation of a mutual business plan, and the signing of an agreement on key terms. As needed, any significant developments in this MOU may become made public. The related transaction will be subject to, among other things, regulatory and business approvals if a binding agreement is to be reached in the future.

The proposed merger of XL Axiata and Smartfren is anticipated to bring up both Sinar Mas ‘ local level and industry expertise in order to build a stronger communications service provider in Indonesia. Both leaders are expected to have an equal amount of influence over MergeCo’s strategic and operational decisions.

Axiata believes that MergeCo will have the proper agility, ability, and size to match increasing expectations and demand from consumers, businesses, and the Indian public sector. MergeCo is anticipated to provide a superior customer experience in the telecom industry and add value to the company, including through synergies from the combined functions of XL Axiata and Smartfren.

Axiata emphasized that it is committed to remaining a leading participant in Indonesia’s online and tech environment, supporting the government’s online future. Indonesia is a significant business that supports its proper activities. XL Axiata is Axiata’s largest advantage and from a collection aspect, Indonesia is the highest worth creator, where it runs five major businesses- XL Axiata, Link Net, EDOTCO, Boost and ADA.

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Social Enterprise Accelerator Malaysia: Empowering social entrepreneurs to drive positive change in Malaysia

  • SEAM to tackle issues of aid, assets in the social organization habitat
  • Partnership aims to motivate marginalised communities, promote sustainable growth  

Social Enterprise Accelerator Malaysia: Empowering social entrepreneurs to drive positive change in Malaysia

Biji-biji Initiative and Ikea Social Entrepreneurship have announced a partnership and the establishment of Social Enterprise Accelerator Malaysia ( SEAM ), a program that places a premium on social impact, in an effort to promote positive change and empower communities across Malaysia.

The parties stated in a statement that some social enterprises in Malaysia struggle to access the required resources and focused help systems, which are essential for caring and strengthening the social organization habitat, despite the rapid growth of the sector and its ability to have an impact on various beneficiaries. This difference not only hinders the growth potential of these companies but also limits their capacity to address important social and environmental issues such as poverty, unemployment, social isolation, forest, pollution, waste control, and the effects of climate change, they added.

Social companies play a significant role in this work, focusing on achieving responsible financial returns while addressing these issues. So, recognising the necessity of this problem, Biji-biji Initiative and Ikea Social Entrepreneurship, with help from Ikea Malaysia, have joined forces to create SEAM to bridge this gap and enable social businesses across Malaysia. It empowers social enterprises by improving the lives of marginalized communities and safeguarding the environment by contributing to and enriching the ecosystem through financial support and value sharing.Social Enterprise Accelerator Malaysia: Empowering social entrepreneurs to drive positive change in Malaysiament and promote sustainability.  

A shared goal at the heart of this partnership is to promote sustainable development in Malaysia and inspire positive change in marginalized communities. Juliana, the CEO of Biji-biji Initiative, envisions SEAM not only strengthening the social enterprise ecosystem in Malaysia, but also fostering a harmonious, symbiotic relationship among social enterprises, the government, corporate or private bodies, and grassroots players.  

We think that this program is valuable and capable of meeting the urgent needs of the ecosystem, she asserts, adding that she hopes to create a collaborative environment where each stakeholder contributes synergistically, ultimately maximising social impact and creating a more inclusive society.

SEAM expands IKEA Social Entrepreneurship’s efforts to enable social enterprises that are already making social impact to expand their efforts. We’re thrilled to launch a new programme in a new country with the Biji-biji Initiative. Together, we’re not just launching a programme; we’re continuing a movement that champions innovation, collaboration, and social impact in Malaysia”, said Åsa Skogström Feldt, managing director of IKEA Social Entrepreneurship.

Our support of this new accelerator program is a part of our commitment to make significant changes in Malaysia, according to Malcolm Pruys ( pic ), IKEA Malaysia’s country retail director. By interacting with and connecting with these social enterprises, we not only encourage one another’s learning and exchange, but we also actively contribute to their scaling efforts. We’re eager to see how this partnership develops and to see how the local impact we can all achieve. ”

He continued,” We invite both the government and the private sectors to join us in shaping the future of social entrepreneurship in Malaysia as we embark on this journey. Together, we can foster a culture of partnership across sectors and other entities, promoting shared prosperity for a more sustainable tomorrow. ”

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Primary Guard, JumpCloud and Pos Malaysia collaborate to accelerate digital transformation 

  • Answer helps Pos Malaysia improve IT efficiency, match compliance standards
  • Aims to improve Pos Malaysia’s performance, streamline operations &amp, IT presence

Primary Guard, JumpCloud and Pos Malaysia collaborate to accelerate digital transformation 

Pos Malaysia, a nationwide mail service company in Malaysia, announces its strategic partnership with local IT services provider Major Watch and Open Directory Platform company JumpCloud Inc. to advance its organization’s journey through the pace of sustainable growth. &nbsp, &nbsp,

This lengthy- term partnership aims to motivate Pos Malaysia’s employees with effective use of their business applications, increase productivity, streamline boring processes, and improve infrastructure visibility for their IT teams. &nbsp,

Through this collaboration, Major Guard did give Pos Malaysia with JumpCloud’s central identity, access, and device management solutions that enable the company to utilize a smooth user lifecycle management. With JumpCloud, Pos Malaysia is completely manage and control over customer records, tools, and access permissions. This includes enforcing best practice security procedures in accordance with applicable laws and regulations. &nbsp,

Pos Malaysia is no stranger to uprooting and digitalizing outdated systems to improve process efficiencies and stay relevant in the digital era as a long-standing organization that has diversified its services from a traditional postal service to a financial services and supply chain provider today. &nbsp, &nbsp,

Sumesh Rahavendra, Pos Malaysia’s chief digital &amp, transformation officer, shares that when his team was tasked to lead the organisation’s digital transformation strategy, they identified four main elements crucial to their strategy: IT consolidation, compliance, security and operational efficiency. The team needed a secure multi-platform mobile device management solution to ensure consistent and effective policy enforcement across 15, 000 employees in order to revamp the core of their enterprise IT architecture. Additionally, it needed to scale and flexibly integrate with existing systems. &nbsp,

It was crucial that we discovered a way to increase our IT resource efficiency and adhere to our compliance standards with 3,800 touch points spread throughout Malaysia and a rapidly expanding workforce. Our local JumpCloud partner, Primary Guard, facilitated the implementation of JumpCloud’s Device Management and Directory Solution, empowering us to securely manage and access our entire suite of user devices from a single interface”, he said. &nbsp,

JumpCloud’s Mobile Device Management gives IT teams full visibility and control over device inventory, status, application deployment, and security updates. It enables IT teams to remotely troubleshoot problems and provide support while automating provisioning and policy enforcement. This remote management approach can speed up IT resources, shorten the response time, and improve the support experience. &nbsp, &nbsp,

Pos Malaysia can enable group-based access controls and conditional access policies for employees with JumpCloud to make sure only the right users can access resources. This is particularly crucial in preventing data breaches and threats, as well as establishing a secure infrastructure that can improve customer trust online. Additionally, JumpCloud’s Single Sign- On and in- built multi- factor authentication policies enable seamless and secure access to work resources with a single set of credentials. &nbsp,

As JumpCloud’s Malaysia partner, we are supporting Pos Malaysia in their digital transformation journey, using JumpCloud’s unique IT resources to improve collaboration and enhance security. By automating tedious administrative tasks, this frees the in- house ICT team to focus on improving operational security and efficiencies”, said Johary Mustapha, managing director of Primary Guard. &nbsp,

” In the dynamic landscape of digital transformation, collaboration becomes the cornerstone of progress”, said Greg Keller, Co- founder and Chief Technology Officer of JumpCloud. ” Our partnership with Pos Malaysia and Primary Guard exemplifies this synergy, marking a pivotal stride towards efficiency, security, and innovation. Pos Malaysia strengthens its operational backbone by embracing JumpCloud’s centralized identity and device management solutions, as well as fosters a culture of seamless productivity and secure cybersecurity.

Since then, over 100 clients in the corporate and government sectors have benefited from Primary Guard’s certified cybersecurity engineers, who have transformed their businesses and improved their security posture in response to Malaysia’s rapid digital transformation.

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Golden Gate Ventures lands first close of inaugural US$100 mil MENA fund in Qatar

  • Second near of account backed by some of Qatar’s most important people
  • Oman was drawn to VC firms because of their track record in creating SEA startup ecosystem.

Michael Lints, Partner at Golden Gate Ventures and Hussain Abdulla, Senior Advisor at Golden Gate Ventures.

Golden Gate Ventures, a venture capital fund founded by Silicon Valley natives, announced its first US$ 100 million ( RM468 million ) MENA fund at the Qatar Economic Forum held from May 14 to 16 in Doha. The second close of US$ 20 million ( RM93.66 million ) is backed by anchor investor, the multiple- faceted Al Khor Holding with 60 years of history, the Al Attiya Group known frequently for its tremendous help for developing local organizations, and Sheikh Jassim Jabor Al Thani.

The news of the first tight supported by the arches of Qatar’s private business community is a significant step forward in Golden Gate Ventures ‘ efforts to encourage innovation and entrepreneurship in the MENA area. The bank combines Golden Gate Ventures ‘ extensive experience with developing startups ecosystems in Silicon Valley and Asia with the collective local effect of its owners.

Oman was drawn to the VC firm because of their track record in developing the SEA business ecosystem. The first global venture capital fund to be established and managed in Qatar is the Golden Gate Ventures MENA Fund I. Michael Lints, Partner at Golden Gate Ventures, has moved to Qatar to strengthen the firm’s MENA responsibility.

The US$ 100 million MENA fund may focus on powering startups in vital sectors such as alternate energy, clean technology, B2B Artificial Intelligence, and energy- related strong tech, on top of stalwarts like fintech, healthtech and edtech. In these areas, SEA has seen huge growth and has launched some well-known Investments in the last ten years. The relationship between MENA and SEA is expected to have a multiplier impact on their progress, and its direction is anticipated to follow that of SEA.

Qatar has been building up its financial prowess and startup ecosystem in recent years with a friendly government, a powerful push for financial diversification, a pro- business environment, and large investment into the startup space. These tactics closely resemble those used in Singapore, which helped the city-state’s startup ecosystem <a href="https://www.startupblink.com/startup-ecosystem/singapore”>rank first in the SEA and second globally.

Qatar is emerging as a growing hub for innovation, and MENA is emerging as a shining example of progress. I remember when Golden Gate Ventures established itself ahead of the other VCs that came after in Singapore in 2011. We see a real opportunity to help startups move from one region to the next by creating a golden corridor of growth between SEA and MENA. We connected Silicon Valley to SEA close to 15 years ago, and now we do so with a presence in all the major global startup hubs,” said Vinnie Lauria, founding partner at Golden Gate Ventures.

In fact, several high- profile startups on Golden Gate Ventures ‘ portfolio have expanded to the Gulf, among which are CodaPay, Stripe and Multiplier. The firm’s extensive CEO exploratory trips over the past 18 months, which have introduced SEA startups to the Gulf markets and helped them build their social capital, have given them this ability to scale to the Gulf from SEA and Singapore.

Golden Gate Ventures ‘ SEA-MENA partnership began with QInvest, a state fund with Qatar as an LP in its Asia fund, in the early days. As the SEA ecosystem matures and the MENA ecosystem grows as a potential global competitor, the firm anticipates more activity between the regions.

” Golden Gate Ventures has spent close to a decade curating our networks in the Middle East and developing our long-term strategy for the region with the aim of growing both SEA and MENA together synergistically. We have connected the startup ecosystems in MENA and the SEA and hope to expand this. There are opportunities for startups to scale between the regions and a number of complementary growth areas, such as climate tech, health tech, and edtech,” said Michael.

Golden Gate Ventures also announced the launch of its Qatar startup ecosystem primer,” Qatar Rising: Where ambition and capital converge,” at the company’s announcement of the MENA Fund I. It serves as an industry primer and provides an in-depth analysis of how various factors, including the Gulf state’s robust economic policy, investment climate, startup ecosystem, talent pool, and cultural influence, have all come together.

Golden Gate Ventures has seen remarkable growth over the past two years, expanding its footprint with the opening of its Vietnam operations in 2022 to capitalize on its position as a leading global economy, opening an office in Saudi Arabia in 2023 to exploit opportunities in the Middle East-Southeastern Asia corridor, and adding a New York presence recently to assist portfolio companies in raising funds from the region.

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Measat, Mudah Healthtech partner to bring digital healthcare to up to 1 million rural residents

  • Lovers commit to digitising centers, enabling 1, 000 physicians to help 2, 000 kiosks
  • Measat aims to connect remote innovation to the modern economy with KampungDigital365.com

Left - Right: Yau Chyong Lim, chief operating officer, Measat Global Berhad, Flovia Ng, assistant minister, Community Development and People‘s Wellbeing for Sabah & Dr Kantha Rasalingam, CEO, Mudah HealthTech

Through the CONNECTme NOW satellite broadband service, Measat Global Berhad ( Measat ), Malaysia’s rural broadband service provider, has partnered with healthcare technology company Mudah Healthtech Sdn Bhd to provide the Sihat Xpress telehealth service in remote communities.

In a joint statement, the companies announced their collaboration and the filing of a Memorandum of Understanding ( MoU) in Ranau, Malaysia’s first rural Sihat Xpress page, serving as a proof- of- strategy for enhancing rural medical through digital technologies.

Through this partnership, Measat and Mudah Healthtech hope to offer electronic care to up to 1, 000, 000 Malay living in rural and remote areas across the country who are underserved and underserved. Additionally, the MoU includes the digitization of hospitals with healthcare capabilities, enabling at least 1, 000 specialists to install up to 2, 000 Sihat Xpress remote healthcare kiosks at CONNECTme Then locations within the next two years.

The Sihat Xpress program allows villagers to utilize healthcare kiosks to check oxygen levels, blood pressure, and body temperature, and to schedule online consultations with doctors for non-emergency health issues like minor illnesses and public health inquiries. Blood glucose testing is one additional health check that could be introduced in the future. &nbsp,

This initiative aims to address issues with healthcare delivery in rural areas, such as overcrowding at medical facilities, and promoting health literacy through educational content.

Commenting on the partnership, Yau Chyong Lim, chief operating officer, Measat, said” As Malaysia’s rural broadband service provider, our collaboration with Mudah Healthtech for the Sihat Xpress rural telehealth initiative is part of our long- term effort to contribute to Malaysia’s national goals beyond providing telecommunications services”.

Yau Chyong Lim, Measat’s Chief Operating Officer, stated that this collaboration aligns with Measat’s commitment to contribute to Malaysia’s national goals beyond telecommunications services. &nbsp,

He added that with CONNECTme NOW as an enabler, Measat is empowering rural entrepreneurship and connecting residents to the digital economy via the KampungDigital365.com initiative. Through our CONNECTme NOW hotspots, we are enabling digital healthcare for up to 1, 000, 000 underserved and marginalized people in rural areas. Without having to travel long distances to a healthcare facility or take regular exams, we can help close the healthcare gap in remote communities by empowering rural residents to actively monitor their health through online consultations and routine checks, Yau said.

The Sihat Xpress initiative in rural areas is in line with national goals to digitize all healthcare facilities by 2030 to improve service delivery, as well as the potential use of telehealth as a cost-effective way to close costs associated with providing high-quality healthcare in remote areas, in addition to gathering data to support public health planning to achieve better outcomes.

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Equinix: Enabling Malaysia's Digital Transformation

    Using cloud impartiality to be the leader in enabling cross multicloud architectures

  • Engaging actively in the hiring of qualified Indonesian practitioners for its information centers

Equinix: Enabling Malaysia's Digital Transformation

Malaysia is now at the vanguard of embracing the online economy, driven by its dedication to develop competitiveness, get foreign investment, and maintain economic growth. The MyDIGITAL framework for Malaysia serves as a crucial step in laying out corporate plans to help the country become a powerhouse of the digital economy. In support of this passion, Equinix, the nation’s digital facilities company, is poised to play a key role in supporting Malaysia’s revolutionary online aspirations.

The MyDIGITAL Blueprint 2021 for Malaysia places a strong focus on promoting sky services across the country. This strategic action will have the power to cause a secret sector-wide ripple effect, increasing the need for robust and flexible cloud solutions. Equinix is carefully positioning itself to support and help this boom in cloud services adoption across the Malay economy by acknowledging this burgeoning business opportunity.

The rapid change in the landscape of cloud processing, as demonstrated by the results of the Flexera 2023 State of the Cloud Report, which indicates that 87 % of surveyed institutions are adopting multi-cloud techniques, is the driving force behind Equinix’s corporate setting. However, 72 % are adopting hybrid techniques that combine both public and private sky.

This shifting model, as any CTO did speak, highlights the need for flawless integration and connectivity between various cloud environments as well as the increasing complexity of contemporary IT architectures.

Equinix emerges as a leader in enabling these cross multicloud designs by leveraging its sky independence and adjacency connection services.Equinix: Enabling Malaysia's Digital Transformation

By providing a vendor- natural system, Equinix empowers customers to easily navigate the complexities of multicloud networking, ensuring maximum performance, flexibility, and scalability in their IT infrastructure. With this capability, Indonesian companies can rely on Equinix to make the most of cloud computing while minimizing the difficulties posed by multicloud environments.

Interconnectivity to level up firms

Equinix’s connection value proposition appeals to international businesses looking to establish a proper grip in the area, creating an ecosystem that local and international businesses of all sizes can use. With a global footprint spanning 33 countries, 71 metros, and over 260 data centers, Equinix provides multicloud networking with secure private connectivity between different cloud providers like Amazon Web Services ( AWS), Google Cloud, Microsoft Azure and Oracle Cloud, offering a minimum of 30 % &nbsp, latency reduction through direct cloud connections.

 

Digital infrastructure to support use cases of exclusive AI

As Malaysia’s modern economy quickly expands, the demand for successful, sustainable, and cutting- edge electronic infrastructure solutions continues to grow. Equinix, with its 25- year legacy&nbsp, at the forefront of modern infrastructure, is nicely- positioned to support emerging technologies like as Private AI initiatives. Already, its initial impressions in the nation have been positive, drawing international companies interested in setting up regional digital hubs and localizing innovative technologies.

Global businesses looking for strategic footholds in the region have heard about the company’s digital and interconnection offerings because they offer a network dense and cloud-adjacent platform that enables them to create their multicloud infrastructure and collaborate effectively with ecosystem partners.

Equinix’s state- of- the- art digital infrastructure solutions, including advanced liquid cooling technologies, can support the deployment of resource- intensive applications like private AI use cases. Equinix is prepared to use its expertise and infrastructure to help Malaysia adopt cutting-edge technologies that promote innovation and growth as Malaysia’s digital transformation progresses.

The growing demand in Malaysia

With a substantial RM144.7 billion in digital investments approved from 2021 to 2023, including RM114.7 billion allocated to infrastructure, Malaysia’s growing appeal as a digital economy hub is evident. Equinix’s dual- metro IBX data centers, KL1 in Cyberjaya, Kuala Lumpur, and JH1 in Johor, will provide businesses with state- of- the- art digital infrastructure solutions to support this growing digital economy.

 

Fostering local talent and collaboration with key stakeholders

Equinix recognizes the value of nurturing local talent and creating a stable ecosystem to support Malaysia’s digital transformation. Equinix is actively promoting the recruitment of skilled professionals for its upcoming national data centers in keeping with the country’s commitment to talent development.

Even the experience with the Malaysian government support ecosystem has been positive, with strong collaboration across various ministries, agencies, and state governments. Initiatives like Tenaga Nasional Bhd’s Green Lane Supply Pathway and the Johor State’s fast-lane approval process have simplified approvals and made the deployment of power and data center infrastructure more quickly.

Equinix will continue to foster strong collaborations with key stakeholders like the Ministry of Investment, Trade and Industry ( MITI), Ministry of Communications, the Ministry of Digital, the various State Governments, as well as key agencies such as the Malaysia Digital Economy Corporation ( MDEC ) and the Malaysian Investment Development Authority ( MIDA ) as it expands its presence in the country. Equinix intends to draw on its global expertise and work with local educational institutions and industry partners to aid in the creation of a skilled workforce from this solid foundation.

Equinix seeks to enable opportunities for talent development and build thriving local communities to empower Malaysia’s digital ambitions, driving innovation, economic growth, and sustainable development, all in the journey to becoming a technology- driven high- income nation.


Dashveen Kaur serves as DNA’s contributing editor.

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IBPO Group and TIME dotCom partner to strengthen data security in fusion finance

  • Chatbot may provide individualized financial options that are specific to each person’s needs.
  • Collaboration involves integrating M’sia’s 1st Artificial economic bot into Time’s community

Left to Right IBPO Group’s advisor, Samuel Quek, head of Contact Centre, Feruz Satar and the founder & Ggoup managing director, Andy Lim, together with Time dotCom Berhad’s head of Enterprise, Tan Hooi Siang

Through the signing of a Memorandum of Understanding ( MoU), IBPO Group Berhad ( IBPO ) and TIME dotCom Berhad ( Time ) have collaborated to advance the fusion financial landscape by implementing stringent data security measures. This collaboration, aimed at strengthening and potential- proofing data security for fusion finance, involves hosting IBPO’s fusion monetary system and Anika, Malaysia’s second AI- driven digital financial consultant chatbot, on Time’s secured network environment.

Customers can check their lender loan eligibility, possible monthly savings, fiscal health scores, and get customized financial solutions tailored to their personal needs using the chatbot.

Recent events at the MoU filing meeting included:

The MoU filing ceremony covered activities and partnerships, including:

    Established Security Compliance: IBPO’s services may work in a sealed setting on Time’s quad MEF- qualified system, meeting Bank Negara Malaysia’s risk management in technology policy.

  1. Safe and Flexible Cloud Hosting: To make sure a robust and flexible hosting environment is provided for IBPO’s AI-powered technology system and tools with Time’s online expertise in cloud hosting and cybersecurity services.
  2. Excellence in Broadband Service: Providing top-tier computer connectivity services for IBPO smooth operations.
  3. Robust Data Security Measures: Both IBPO and Time are committed to upholding the highest standards of data protection to protect customers ‘ information, privacy, and economic data.

With TIME dotCom as our partner, we can implement stricter and more stringent data security measures in our fusion finance business, according to Feruz Satar, head of IBPO’s contact center. This includes putting an extra layer of security behind our recent development of Anika and our fusion financial system.
Andy Lim, founder and group managing director of IBPO, emphasized,” Enhancing security measures is always our top priority, especially since we are in the financial- technology sector where we deal with highly sensitive information, including personal and financial data. At IBPO, we strive to do everything we can to ensure this data is protected from identity theft, fraud, and other financial risks”.

Tan Hooi Siang, head of Enterprise Sector at Time, stated,” Joining forces with IBPO marks a significant stride towards fortifying the fusion finance landscape. At Time, our focus is on building a secure foundation for innovation, leveraging our expertise in cloud hosting and cybersecurity. This collaboration demonstrates our commitment to producing robust and secure solutions that are based on IBPO’s cutting-edge technologies.

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IIB strengthens partnerships with GBS Malaysia, iTrain Asia and MDEC through GBS Iskandar @ Medini

  • Aims to achieve a specific funding of US$ 212 mil by 2030 in Medini
  • Programme has garnered US$ 552 mil in opportunities, created 6, 500 jobs in Medini since 2016

Idzham Mohd Hashim, President/CEO of IIB (4th from left) and GBS Iskandar growth partners strengthening the GBS ecosystem in Medini, Iskandar Puteri, Johor to reinforce IIB’s commitment to position Medini as the region’s first net zero carbon CBD 2030 focusing o

Through two important Memoranda of Understanding ( MOUs ) with GBS Malaysia and iTrain Asia, Iskandar Investment Berhad ( IIB ) has expanded its partnership with Global Business Services ( GBS ) Iskandar@Medini. Additionally, it collaborates with Malaysia Digital Economy Corporation ( MDEC ) to enhance its GBS ecosystem in Medini, Iskandar Puteri. &nbsp,

This program reinforces IIB’s devotion to place Medini as the state’s second net zero carbon CBD by 2030 focusing on modernization, innovation, and GBS, the company said, in a statement. &nbsp,

It added that in line with this commitment, the firm aims to achieve a target investment of US$ 212 million ( RM1 billion ) by 2030 in Medini. According to the investment target, Medini’s position as Johor’s online and innovation hub will also be supported by the creation of at least 2,500 jobs in the modern economy sector.

Idzham Mohd Hashim, President/CEO of IIB, stated,” The GBS Iskandar programme has achieved US$ 552 million ( RM2.6 billion ) of investments and 6, 500 jobs in Medini since its inception in 2016. As we embark on the next chapter of the GBS Iskandar initiative, IIB reaffirms our commitment to fostering growth and innovation within Malaysia’s GBS sector” .&nbsp,

He added that Medini’s GBS Iskandar’s success is attributed to its strategic location, which serves as a gateway for multi-modal vehicles with smooth connection by property, air, and sea. &nbsp,

Medini, which is 40 minutes from Singapore and is situated between two major seaports and three international airports, offers unmatched availability and administrative advantages, making it an ideal location for GBS companies to prosper. By leveraging on mix collaborations within the double helix framework of industry, academia, government and civil society, we are poised to help tailored solutions spanning incentives, proper initiatives, talent development, and government liaison efforts, ensuring the GBS companies thrive in Medini’s attractive landscape”, Idzham said.

By leveraging Medini’s proper place and friendly ecosystem, the collaboration between IIB and GBS Malaysia aims to establish the region’s top regional hub for GBS procedures. This partnership demonstrates our shared responsibility to positioning Malaysia at the vanguard of the world’s modern business.

Additionally, the partnership between IIB and iTrain Asia focuses on empowering and mentoring initiatives designed to help businesses in the GBS industry advance the benefit chain through AI, automation, and sustainability initiatives, ensuring the workforce is equipped with the most recent knowledge that is necessary for success in the modern economy.

In order to make Medini a top destination for high-value jobs and sustainable growth, this collaboration will foster an environment conducive to continuous learning and innovation in order to meet the changing needs of GBS companies.

The upcoming partnership with MDEC, which aims to encourage foreign direct investments for the GBS industry, is anticipated. This partnership, slated to be announced in Q3 2024, aims to target new companies seeking a strategic and well- supported environment for expansion.

Mahadhir Aziz, CEO of MDEC said,” Our partnership with IIB underscores MDEC’s steadfast commitment to driving digital transformation, fostering talent development, and boosting economic growth in the GBS sector. This sets the stage for Johor to become a key destination for global investments” .&nbsp,

He added that this collaboration is in line with Malaysia’s national strategic initiative to advance Malaysia’s digital infrastructure, provide comprehensive business support, and strengthen Malaysia’s position as Asean’s digital hub.

Chairman of GBS Malaysia, Anthony Raja Devadoss, emphasised,” The strategic partnership with IIB marks a significant milestone in our collective efforts to grow the GBS industry in Malaysia. We are committed to unlocking Medini’s full potential and positioning Malaysia as a powerhouse in the global GBS landscape by leveraging strategic advantages and creating a dynamic ecosystem for growth and innovation.

In addition, due to its favorable environment for innovation and learning, Eric Ku, executive director of iTrain Asia, added that” Medini stands as the ideal location for talent development within the GBS sector.” With its strategic positioning as a hub for technology, innovation, and global business services, Medini offers a dynamic ecosystem that fosters collaboration and skill enhancement. It provides an unparalleled opportunity for individuals to upskill and reskill, preparing them to thrive in the digital economy, in combination with the robust support provided by initiatives like the GBS Iskandar. &nbsp, &nbsp,

We are appreciative of our partners and stakeholders for their unwavering support throughout this transformative journey, Idzham once more stated. Together, we are advancing our strategic goals for Medini and supporting the development of the Johor-Singapore Special Economic Zone. Let us all reaffirm our commitment to making Medini the preferred gateway to Southeast Asia, in the interests of Johor and the country as we move forward.

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Malaysia’s Scale Up by Endeavor program is back for Cohort 5

  • Software for the fifth group may remain open until June 3rd.
  • Boost path of first- stage, high possible entrepreneurs in 42 markets

Malaysia’s Scale Up by Endeavor program is back for Cohort 5

Applications have been received for the fifth population of Endeavor’s Scale Up by Initiative program. This program, which is supported by Grab and GX Bank in partnership with Cradle’s MYStartup, is intended to enable early-stage business owners in Malaysia, according to a statement from Endeavor Malaysia.

Following the success in the previous four cohorts, supporting large- ability companies such as CapBay, Bloomthis, Kiddocare, Healthmetrics, The Noor, TRAPO and many more, Endeavor Malaysia aims to maintain accelerating the ecology &nbsp, for the future decade.

A series of courses called” Scale Up by Endeavor” are intended to accelerate the growth of early-stage, high-potential businesspeople in 42 global industry. Malaysia’s Scale Up was created with native knowledge in mind, taking into account the needs of the ecosystem, investor landscape, regional-specific resources, and customizing each participating creator and company’s challenges and opportunities.

Malaysia’s Scale Up by Endeavor program is back for Cohort 5The Managing Director of Endeavor Malaysia, Adlin Yusman ( pic ), noted that the Scale Up by Endeavor program frequently serves as the first point of contact with the Endeavor pipeline and network. ” The program provides tailored mentorship, fosters an entrepreneur- to- entrepreneur community, and equips founders with the required resources to promote Endeavor’s values and mission – inspiring the world’s fastest- growing entrepreneurs to wish bigger, size up, and pay it forwards”, he added.

Select companies in Cohort 5 may benefit from assistance from best talent from Grab and GX Bank in addition to accessing Endeavor’s community of over 70 skilled instructors. These officials will add their experience to coach entrepreneurs, more accelerating their growth.

Entrepreneurs are encouraged to seize this opportunity to join Endeavor’s vibrant community of fast-growing innovators. Software for the fifth group may remain open until June 3rd. 2024.

For more information about Malaysia’s Scale Up by Endeavor and to access the application portal, please visit https ://www.endeavormalaysia .org/scale-up-by-endeavor-track

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alrajhi bank Malaysia announces Mohd Syahrul Ishak as new CEO

  • brings more than 20 times of banking and finance industry expertise to this position.
  • Former CIMB Bank MD & CEO, local head of cash management for group transaction banking.

alrajhi bank Malaysia announces Mohd Syahrul Ishak as new CEO

Al Rajhi Banking &amp, Investment Corporation ( Malaysia ) Bhd ( alrajhi bank Malaysia ) has announced the appointment of Mohd Syahrul Ishak ( pic ) &nbsp, as CEO, effective 13 May 2024. The Board of the bank stated that it wished to thank Chief Risk Officer Muhammed Uzman Muhammed Faleel, who stepped up as Interim CEO, following Arsalaan ( Oz ) Ahmed’s resignation.

” We are excited to welcome Syahrul to alrajhi banks Malaysia”, said president John Roger Winfield, adding that his done career in banking, marked by corporate leadership, revolutionary drive, and functional excellence positions him completely to link the bank’s continuing growth and success.

As we build on the speed we’ve built, Winfield said,” The Board of Alrajhi Bank Malaysia and I look forward to a productive engagement with Syahrul.”

Syahrul said,” I am honored to direct this esteemed Muslim banking institution. alrajhi lender Malaysia has undergone a remarkable change, and I’m committed to further strengthening our place. We may continue to deliver impressive Shariah- cooperative solutions, food to the growing financial needs of our customers, employees, and communities”.

Syahrul has over 20 years of success expertise in the banking and finance industry. Previously, he served as managing producer and local head, Cash Management, Group Transaction Banking at CIMB Bank. Prior to that, he held the position of managing producer and local head, Consumer Banking, at CIMB Islamic and mind, Cards Acquisition and Personal Financing, Consumer Banking, at CIMB Bank. &nbsp,

He graduated from Washington University in St. Louis, United States, with a Bachelor of Science in Business Administration.

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