MYStartup Pre-Accelerator seeks startups to join Cohort 4

  • Call for prior- plant, earlier stage startups, applications opened until 23 June
  • The June to September program will be delivered by Watchtower and Friends throttle.

The winners from Cohort 3 are pursuing their dreams now as MYStartup seeks submissions for Cohort 4.

Programs are now available for the fourth incarnation of MYStartup Pre- Accelerator program, which is a collaboration with the Malay business accelerator Watchtower and Friends ( WTF). Applications are available until June 23 for early-stage and pre-seed startups from different sectors with a focus on technology-driven solutions.

The selected startups may be subject to a customized package designed to accelerate development and scale growth during the pre-accelerator program, which will run from June through September. Startup founders may gain access to a wealth of resources, including globe- group coaching and outcome- based curriculum. The top 5 startups will also be eligible for an extensive funding accelerator program, giving them the support they need to achieve beyond the pre-award program.

The Cohort 4 Programme has been properly developed to provide a complete learning experience for early-stage startups over the course of four months. With three lessons per year, each lasting three time, the program covers the following topics:

  • Year 1: Members ‘ Foundations- Aligning inc- leader goals, crafting mission and vision statements, and using Goals.
  • Month 2: Business Model Canvas- Building business models, client profiling, and market analysis.
  • Month 3: Minimum Viable Product ( Application )- Building Teams, resource requirements, and start roadmaps.
  • Week 4: Industry Validation- Pursuing validation study, gathering user comments, and iterating MVPs.
  • Week 5: Earlier- level Fundamentals- Exploring valuations, financing, legal documents, and pitching techniques.
  • Week 6: ESG for Startups- Understanding Sustainable Development Goals ( SDGs ), governance, and aligning startups with SDGs.
  • Participants in this planned program are given the necessary tools and knowledge to create and level successful startups.

MYStartup Pre-Accelerator seeks startups to join Cohort 4

The pre-accelerators program, which is a project of the Ministry of Science, Technology and Innovation ( MOSTI ) and spearheaded by MYStartup, is crucial to the Malaysian startup economy by bridging the gap between innovative ideas and viable businesses to foster a culture of entrepreneurship and innovation.

Companies like Deepsight were successful in launching their product on Google Play and the App Store, and they also signed strategic partnerships, which is a result of the successes of the preceding group. Additionally, startups like Rabt, PropMoth, and PyceHub are in talks to securing potential investments with an estimated value of US$ 318, 000 ( RM1.5 million ), cumulatively.

Applications for the MYStartup Pre- Accelerator Cohort 4 are then invited from companies. Do n’t miss out on the chance to participate in a program that can help your startup reach new heights.

The deadline to use is 23 June 2024. Try here.

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SEMICON SEA 2024: For Malaysia’s NSS to succeed, parents must encourage kids to study engineering says Lam Research

  • First&nbsp, to help money equipment manufacturing in Malaysia, increase for NSS targets
  • Collaborating with&nbsp, unis&nbsp, &amp, professional organizations to ensure&nbsp, network of qualified professionals​

Lam Research is the first company to support capital equipment manufacturing in Malaysia which will give its engineers the skills and experience in building semiconductor tools.

Malaysia’s introduction of the National Semiconductor Strategy ( NSS), which has sparked controversy about the government’s ability to meet the ambitious goals outlined in the “living document,” has been two days since. Amidst the debate, the presence of Lam&nbsp, Research in Malaysia demonstrates the deepening of the semiconductor supply ring in the country.

The semiconductor industry is served by a California-based British company known as Lam&nbsp, which was founded by David K. Lam in 1901 and established a production facility in Penang in August 2021. But the flower, at 800, 000 square feet, proved to be its largest and most innovative service at the time. The company added an automated storehouse with state-of-the-art facilities like developed robots, advanced systems, and technological advancements in May, which collaborate with its employees to create cutting-edge surface fabrication tools. It is still Lam&nbsp’s largest facility.

A leading provider of wafer construction products and services, Lam’s decision to establish this hospital sets it apart from other major transistor technology manufacturers like ASML, Tokyo Electron Ltd. ( TEL), Applied Materials, and KLA Corporation, none of which have production in Malaysia. &nbsp,

By being the first major money equipment company to set up operations in the country, Lam, which had 2023 profit of US$ 17.43 billion, &nbsp, &nbsp, has paved the way for another industry players while fostering a strong ecosystem that supports Malaysia’s semiconductor ambitions.

This development strengthens Malaysia’s place in the world’s semiconductor supply chain as well as creating a skilled workforce, which is essential to the success of the NSS. Andrew Goh, Lam Research’s Vice President &amp, General Manager of Southeast Asia, highlighted this during a recent press briefing at the SEMICON SEA 2024 event in Kuala Lumpur. ” We are the first company to help capital equipment manufacturing in Malaysia, which means that we are truly coming in to hire more people to ensure that more people are able to know about building a tool,” the statement reads.

Developing a skilled labor capable of handling sophisticated transistor technology will enable Lam&nbsp,, which has invested US$ 213 million ( RM1 billion ) in the center, to make it the highest quantity manufacturing web-site among its international operations. &nbsp,

Lam’s determination gives Malaysia’s silicon ecosystem more momentum. What we currently have here in Malaysia is a good place to start, Goh said, adding that we simply need to keep working toward getting ready for perhaps bigger development. The NSS’s ambitious goal of at least US$ 106.66 billion ( RM 500 billion ) in investments during Phase 1 has just been given a significant boost by those growth prospects. &nbsp,

Infusing children with the desire to study executive

Engineers on the floor of the Lam Research plant in Penang. The company's executives believe parents too must play a role to encourage their kids to pursue a career in engineering if Malaysia is to succeed in its NSS ambitions.

The essential enabler of unlocking this growth potential is, to be sure, strengthening the talent pool. Between the following five to ten years, the government has set an ambitious goal of training and developing 60 000 specialists in semiconductor-related areas.

Addressing this problem, Goh said,” It’s difficult to say how they’ll complete it. But as I said earlier, schools must be prepared, and more people must want to examine engineering. We, as parents, have to engage as also. We must do our part to encourage our children to attend school with the intention of obtaining an architectural history.

By utilizing its cutting-edge packaging technologies and creating native talent development, Lam&nbsp sees itself playing a crucial role in the realization of the NSS. But addressing this skill challenge will require a cooperative effort between market participants, educational institutions, and the state. &nbsp,

To achieve this, Lee Chee Ping, Senior Director at Lam, who was part of the lecture, said Lam&nbsp, is constantly collaborating with local universities and technical institutions to maintain a stable network of qualified professionals. ” Imagine if every company does the same thing, there will be a big change. The NSS’s initiative is good, but how will it be put into action? That will be the challenge”.

Advanced packaging to meet AI demands

The expertise of Lam’s Malaysian operations lies at the heart of its expertise in advanced packaging, which is essential for the integration of multiple chips into a single package, improving performance, lowering power consumption, and improving functionality for devices like artificial intelligence ( AI ) chips.

The company’s advanced packaging solutions are key in addressing the issues that manufacturers of AI chips face, including the need for more processing power and the “memory wall” challenge, which involves bringing memory closer to the processing units. Chee Ping emphasized the company’s commitment to continuously improving its products in order to solve industry problems. &nbsp,

” Lam&nbsp, identifies potential industry issues and technical challenges. Therefore, we continue to have R&D in the design of equipment, communicate with clients, and collaborate closely with them to create the next generation of machines for the next generation of packaging.

Working closely with clients involves companies like Intel, which Chee Ping noted has doubled down on its investments in Malaysia, and brand-new players like Taiwan-based Siliconware Precision Industries Co, Ltd ( SPIL), which recently opened a US$ 1.28 billion ( RM6 billion ) advanced packaging facility in Penang. He cited Malaysia as the nation’s sixth-largest exporter of semiconductors as saying,” Malaysia is booming in the semiconductor packaging industry.” Lam intends to take advantage of and contribute to that boom.

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Maxis ready to complete SSA process and get second 5G network rolled out in Malaysia

  • Decision will give more assurance to the rollout of a double 5G network.
  • 5G- Advanced ( 5.5G ) adoption among consumers, business and govt

Maxis believes operating its own 5G network will give the operator a competitive advantage in the market versus relying on the network provided by Digital Nasional Bhd.

Eventually, the end activity to the back and forth of Malaysia’s 5G network situation is in sight. The government relented from announcing in February 2021 that it would implement its second one wholesale network system for the 5G rollout, and it later agreed to a double wholesale network system in May 2023, but with some restrictions.

Maxis announced today that it is prepared to sign the Shareholders Agreement ( SHA ) with DNB and to complete the Digital Nasional Bhd ( DNB) share subscription agreement ( SSA ) process in accordance with the SSA’s terms.

Maxis ready to complete SSA process and get second 5G network rolled out in MalaysiaGoh Seow Eng ( pic ), CEO of Maxis, said in a statement,” We want to see an early conclusion to the SSA process as it will provide greater certainty to the nation’s dual 5G network rollout. To begin the transition to a twin 5G network, it is necessary and rational to complete the SSA process. In order to expand the country’s 5G plan and bring its monetary benefits to Malaysians at a faster rate, Maxis is fully prepared to begin building the next 5G network right away.

Maxis claimed that this puts it on record to complete its SSA process” also ahead of the time that the Minister of Communications, Fahrni Fadzil, announced, on June 2nd, and to join in the deployment of the following 5G system.”

Maxis emphasized that it entirely supports and is committed to the government’s two 5G network model’s timely implementation and looks forward to playing a significant role in advancing Malaysia’s online agenda as an effective and important participant in the upcoming phase of the country’s 5G rollout. This includes promoting 5G and 5G- Advanced ( 5.5G ) adoption and innovation among consumers, businesses and the government sector.

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Mdec expands De Rantau Programme: New opportunities for global digital nomads

  • Experts from areas of IT and digitalization are then included in the De Rantau Nomad Pass.
  • Maximum salary requirements is set at US$ 60, 000 per month or US$ 5, 000 per quarter

From left: deputy secretary general of the Ministry of Digital, Ma Sivanesan; minister of Digital, Gobind Singh Deo; chairman of MDEC, Syed Ibrahim Syed Noh; and CEO of MDEC, Mahadhir Aziz; taking a picture with the digital nomads under the DE Rantau programme

The DE Rantau programme, an initiative designed to make Malaysia a top destination for digital nomads, has received significant updates from the Malaysia Digital Economy Corporation ( MDEC ). &nbsp,

The DE Rantau Nomad Pass has been expanded to include professionals working in fields other than IT and online, according to a speech from the organization. This includes owners, CEOs, Chirps, tax accountants, legitimate lawyers, technical artists, business development managers, public relations experts, and other related jobs. These experts are now qualified to apply, whether they are remote staff or online freelancers.

It added that the minimum income requirement for these non- IT/digital talents is set at US$ 60, 000 ( RM281, 000 ) per year or US$ 5, 000 ( RM23, 000 ) per month. Moreover, parents of the principal person can now be relatives.

According to MDEC, as of 31 May 2024, the program has received 3, 096 software, with 1, 443 approved, including 189 upgrades. These candidates come from 78 states, with the top five getting Russia, Pakistan, Britain, Japan, and Australia. The average annual income of these approved digital nomads is US$ 69, 000 ( RM324, 000 ) with the majority possessing skills in software development, digital marketing, and AI/machine learning.

A 2023 yr- close survey revealed that 40 % of accepted applicants are in Malaysia with their families, impacting their spending on tourism, training, food, accommodation, and transportation.

The program continues to grow its system of partners, which today includes a different variety of local and international collaborators quite as co- working space providers, insurance platforms, healthcare providers, accommodation platforms, travel and leisure providers, digital solution providers, and transportation services. Significant partners include Worq, Common Ground, Komune Co- acting, Universal Space Offices, Jetpack Langkawi, SafetyWing, KPJ Healthcare, MHTC, OYO, Tripcarte, AxaiPay, EdxaPay, SenangPay, EasyBook, Great Foodie Media, and Hertz.

In the near future, DE Rantau is scheduled to host a number of neighborhood initiatives designed to enthral and enrich Malaysia’s digital nomad area. This includes JetPack Langkawi’s upcoming digital nomad community engagement occasion, Scale Summit@Langkawi, and other events. Also, DE Rantau@Terengganu may be held in Q3 2024, and DE Rantau Fest 2024 is scheduled for Q4 2024, promising an exciting roster of activities and activities.

MDEC stated that it is committed to supporting these initiatives, creating a vibrant modern vagabond ecosystem in Malaysia, supporting the development of local industries, and promoting Malaysia as a top destination for international digital talent. Visit Rantau Nomad Pass for more information and to apply for a DE Rantau Nomad Pass. mdec. my/derantau.

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High potential startups unveiled at the MyStartup Pre-Accelerator Cohort 3 Demo Day 

  • 5 companies were selected as best winners&nbsp,
  • The third group included 26 businesses from a variety of industries.

Winners from the MyStartup Pre-Accelerator Cohort 3

After more than 16 days of intensive mentoring and consultations, the MyStartup Pre-Ameriator Cohort 3 and Growth Charger celebrated development and growth at its leading Demo Day. The program also recognized the cohort’s high-potential companies after they successfully completed proof-of-concept patterns while developing and verifying concepts and business models.

A total of 26 startups spanning various industries of green tech, bright life, kindness, and digitalisation were selected to participate in the programme’s second cohort spearheaded by Cradle and MyStartup. At the Demo Day, twelve champion companies pitched their business tips to an audience of fellow entrepreneurs, instructors, potential investors, and the greater Malaysia business community, including a screen of ten judges comprising business leaders such as Cradle, Maybank, Cyberview Sdn Bhd, Dana Impak, Tuas Capital Partners and The Hive Southeast Asia, Jewel Digital Ventures, MBI Selangor, Orbit Malaysia, Origgin Ventures, and SBI Ventures Malaysia.

As the event concluded, five startups were selected as the top winners. The companies include:

1. ScancerAI: A company that utilises advanced AI for early lung cancer detection through chest X- ray analysis, aiming to revolutionise diagnostics. This approach was aided in part by Universiti Kebangsaan Malaysia’s expertise.

2. Practistica: A startup that streamlines assignment creation, grading, and analysis for teachers. It features a large database of high- quality questions where teachers can drag- and- drop to create assignments, grade objective and subjective questions, and use analytics to focus on each student’s weaknesses.

3. Stay WokeProperty: A marketplace for long- term property rentals. It has a unique value proposition that focuses on assisting property owners in renting out quickly and avoiding the hassle of rental collection and maintenance.

4. FinDoc: An AI- driven online credit screening and advisory platform. FinDoc offers personalized advice to improve credit health and address financing needs for borrowers and recommends the best financial products. For agents and banks, it acts as a lead generator.

5. Beseek: A quick-to-use tool for analyzing content that includes qualitative analysis, such as identifying key highlights and analyzing gaps between private data and public knowledge.

Norman Matthieu Vanhaecke, group CEO of Cradle Fund Sdn Bhd, reiterated the crucial roles startups play in the ecosystem and the agency’s commitment to developing a high- performing, inclusive, and sustainable startup ecosystem in the country. We launched the first cohort in 2022 to help guide and coach early-stage startups and increase their growth potential. More than 100 Malaysian startups have benefited from the programme, with most startups expanding their market and adopting technology- led solutions such as advanced AI to revolutionise diagnostics, blockchain, and online interactive web platforms. For this cohort, we are proud to support all 26 participating startups, each utilising unique technology, data, and intelligence to develop viable proofs of concept that meet market needs and bridge existing gaps”.

” We would like to congratulate the winning teams, finalists, and all participating startups. We hope to equip these innovators with a solid foundation, and we look forward to their continued impact in their respective industries”, he added.

Additionally, Syed Haizam Jamalullail, managing partner of Tuas Capital Partners and The Hive Southeast Asia, who is also one of the judges, expressed admiration for the talent and innovation that can be found at the MyStartup Pre- Accelerator Demo Day. All 12 startup founders displayed exceptional quality, blending creativity, strategic vision, and entrepreneurial spirit. These startups are clearly growth-driven and ready to launch their ventures despite being in their early stages.

We at The Hive Southeast Asia look forward to seeing how successful these talented entrepreneurs will be in the future, he continued.

Shamsuddin Salleh, founder of ScancerAI and one of the top five startups, described the programme as instrumental in realising his innovative ideas, preparing the business for market entry, and opening doors for future collaborations”. Building a startup is a challenging but incredibly rewarding journey. Apart from embracing feedback and being open to pivoting your approach, a supportive network of mentors, peers, and advisors is critical. The program’s extensive mentorship, networking opportunities, and access to industry experts were essential in advancing ScancerAI to the next level.

Through the pitch clinic sessions, which have helped us refine our business model and strategies,” we have gained valuable insights into various aspects of startup development from the workshops and coaching sessions,” he continued.

In addition to taking home US$ 1600 ( RM7, 500 ) each and gaining recognition, the top five startups will join the MyStartup Market Access Programme. They can establish connections and communicate with key ecosystem players and potential partners around the world through this program. GrowthCharger will also continue to support these startups after the program by facilitating strategic ecosystem connections and granting access to foreign investors.

Startups selected for this cohort have benefited from individualized mentorship and one-on-one guidance from experienced entrepreneurs, which each cohort member has received over the course of four months. They also have benefited from using MyStartup and Growth Charger’s resources and global network.

Since the onboarding session, which was held last March, these innovators have been given multiple opportunities and perks, including exclusive networking events with global mentors and partners, invitations and group visits to innovation hubs, market research access, and channels to funding opportunities.

More than ten experts who served as mentors for the third cohort of the program come from a variety of backgrounds and have special expertise in various fields of expertise, but all come together with a shared commitment to positively shaping the next wave of entrepreneurs.

An initiative by the Ministry of Science, Technology &amp, Innovation, powered by Cradle, the MyStartup Pre- Accelerator aims to propel early- stage and pre- seed startups through a flexible yet comprehensive programme. This third iteration of the program, which is in line with the Malaysia Startup Ecosystem Roadmap 2021- 2030 to bring together every important player in the community to create a scalable, sustainable, and inclusive startup ecosystem, continues to be a beacon of opportunity for aspiring entrepreneurs looking to accelerate their business growth.

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FedEx announces appointment of Sandeep Shahi as vice president, Information Technology in Asia Pacific

  • began his career with SAP AG in Germany.
  • Does drive FedEx’s engineering businesses in APAC

FedEx announces appointment of Sandeep Shahi as vice president, Information Technology in Asia Pacific

Federal Express Corporation, one of the world’s largest express transportation companies, has announced the appointment of Sandeep Shahi ( pic ), as vice president, Information Technology in Asia Pacific. He will drive the company’s tech businesses in Asia Pacific.

Sandeep began his career with SAP AG in Germany before moving into the logistics sector to lead modern transformation and implementation, which played a significant part in the modernization of integrated IT architectures.

FedEx’s business plan in the Asia-Pacific area is deeply rooted in technology because it operates at the crossroads of the physical and digital worlds. The business is dedicated to improving supply chains by using technology to enhance the services experience, automated procedures, and increase customer efficiency.

Some examples include FedEx Dataworks, which harnesses the company’s abundant data ecosystem to help improve inside operations, fuel innovation, and create more brilliant supply chains around the globe. End-to-end e-commerce options for businesses of all sizes will be provided by the company’s new online platform, fdx. This data-driven commerce platform will enable SMEs to handle their supply chains and link the customer journey.

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Boost Bank launches pioneering embedded digital bank app to Malaysian

  • Customers can look forward to the bank’s future Bank Card, already in the pipeline
  • promises to be one of the few M’sian businesses to accept new customers without having any prior records.

Left to Right:: Mohd Rashid Mohamad, group managing director/group CEO of RHB Banking Group, David Lau, chairman of Boost Bank, Fozia Amanulla, CEO of Boost Bank, Vivek Sood, group CEO and managing director of Axiata Group Berhad and Sheyantha Abeykoon, group CEO of Boost

The launch of Boost Bank by Axiata and RHB ( Boost Bank ), a homegrown digital bank approved by Bank Negara Malaysia and the Ministry of Finance, with a pioneering embedded onboarding journey, made the announcement that the app, which is now officially accessible to the public. &nbsp,

The bank said in a declaration that all present advanced budget users on the Boost app application will be able to start a Boost Bank account in a smooth recruitment process. This places Boost Bank at the forefront of integrated banks, which seamlessly integrates with Malay ‘ everyday routines.

One of the few banks in Malaysia that will let users who do n’t already have bank accounts digitally sign up is Boost Bank, claims the company. This goes against its original intent to reach out to the underprivileged and underserved segments of society.

As the first digital bank in the market to combine the technology-first mindset of a finance with the confidence and security of a sizable financial institution, Boost Bank and RHB Banking Group ( RHB) have a strategic relationship. Users can expect the best of both worlds thanks to this interaction, which combines the encouragement and dependability of a well-established banking institution with the innovative financial solutions delivered with the dexterity of a fintech.

The lender will use lovers that it has grown with to market its ideas in addition to Boost Bank’s habitat. Customers can anticipate some relationship promotions in the upcoming months across both West and East Malaysia, including CelcomDigi, Mydin, and Bataras Sdn. Bhd., Cks Retail Sdn. Bhd., Farley (KCH) Sdn. Bhd., Servay Hypermarket ( Sabah ) Sdn. Boulevard Hypermarket and Departmental Store Sdn., and Bhd. &nbsp,

Through these collaborations, the lender said it will provide rewards and discounts on daily necessities to match the financial requirements of the underbanked and vulnerable. Customers who transact with its release partners you anticipate higher special interest rates to be announced quickly, too. &nbsp,

According to Boost, it has an existing and honor- winning loyalty program for many years, known as the BoostUP Loyalty Programme, that has been well- received in the market. As one of its crucial value ideas, it is launching a fresh special rank called” Platinum President” for customers who open a Boost Bank account and fulfil certain conditions. All users need to do is simply deposit a minimum of US$ 426 ( RM2000 ) into the Boost Bank’s Savings Jar and/or Savings Account, where they can receive a promotional daily interest rate of up to 3.6 % p. a. from now until 31 August.

After the promotional period, the regular conventional Savings Jars interest charges will be 3.2 % p. a. for Platinum President people. After the two apps are linked, those who achieve the Platinum President status on the Boost Bank application may be automatically upgraded to the highest position on the Boost paytm app in order to receive up to 3x Increase Stars for every ringgit spent on qualified transactions.

Users who embrace our online bank have the unique opportunity to skip to Platinum President, even those in lower ranks, said Boost.

Moreover, there will be forthcoming partnership offers and more benefits with one of our launch partners, Mydin, in the coming weeks that could allow users to earn higher promotional interest rates while receiving partner gains on Boost Bank’s lovers ‘ saving bottles. DuitNow transfers can be made using funds from the Boost Bank app, including to the Boost eWallet app, where they can be used to make national-wide QR code payments and online transactions.

Loyalty Rank

Boost Bank’s Savings Jars Daily Interest Rate ( Weekly Return )*

Boost eWallet app’s Boost Star Earnings*

Platinum President with Partner Benefits

Higher promotional interest rates are on the horizon.

3x on eligible transactions

Platinum President

3.6 % p. a. from 6 June to 31 August, during promotional period

( Standard rate: 3.2 % )

3x on eligible transactions

All Other Loyalty Tiers

1.5 % p. a.

( Fast- track to Platinum President rank after depositing RM2000 )

1x on eligible transactions

Furthermore, in compliance with regulatory standards, each deposit is protected by the Perbadanan Insurans Deposit Malaysia ( PIDM) for up to US$ 53, 200 ( RM250, 000 ). Users can be assured that their funds have a safety net even in unanticipated economic crises or unforeseen circumstances thanks to PIDM.

To safeguard users ‘ accounts, the Boost Bank app has implemented the’ Freeze Account’ for emergency situations,’ Device Binding’ for access control, and ‘ Cool- Off Period’ for new device logins, as part of its comprehensive security measures. As an added layer of defence, the digital bank is also supported by a 24/7 Fraud Hotline at 60162999831. Users can quickly and conveniently access their accounts thanks to these safety measures if they suspect unauthorized malicious activity.

&nbsp, Vivek Sood, group CEO and managing director of Axiata Group Berhad, said,” At Axiata, we are dedicated to growing an inclusive and robust digital banking ecosystem in Malaysia. The launch of Boost Bank is a significant step in improving Malaysia’s ability to access financial services.

He continued, stating that the company’s goal is to make the digital banking landscape more accessible to those who have no access to traditional banking and contribute to a more diverse digital society. ” Boost Bank will therefore add financial products to the already-described fintech features of the Boost eWallet app. As Axiata moves forward with our Telco-TechCo journey, we will continue to focus on expanding our offerings to consumers through digital businesses and creating long-term value for our shareholders, according to Vivek.

Meanwhile, Sheyantha Abeykoon, group CEO of Boost, said:” Today marks a pivotal moment at Boost, as we fully realize our vision of becoming a full- fledged digital bank, and become the first in market that integrates embedded banking effortlessly, and is a testament to the robust fintech ecosystem and track record of excellence we’ve established. Boost Bank is poised to offer an unmatched banking experience that intuitively integrates into our users ‘ daily lives, meeting their needs and developing deep, meaningful relationships by drawing on various learnings from across our business.

He continued,” Our ongoing innovations and strategic partnerships serve as the foundation for this transformative vision,” stating that the company envisions a future where financial empowerment is guaranteed for everyone.

&nbsp, Fozia Amanulla, CEO of Boost Bank, added:” This journey, years in the making, culminates in a moment of immense pride for our innovative team as we successfully launched Boost Bank. A commitment to pioneering a movement where everyone benefits from access to financial tools that are both as simple and as-effective is at the heart of our innovation. Through our synergy with Boost’s technological expertise and RHB Banking Group’s rich legacy, we are offering more than just banking services, but a financial journey that’s seamlessly integrated and profoundly accessible”.

Mohd Rashid Mohamad, group managing director/group CEO of RHB Banking Group, stated:” Boost Bank represents more than just digital banking, it signifies the creation of a resilient and inclusive financial ecosystem. We are collaborating with Boost to create a strategy that embraces innovation and addresses changing customer needs, particularly those in underserved and underserved areas.

He added that by giving customers access to agile and, more importantly, secure digital financial services, the Boost Bank app will help fill in financial inclusion gaps. In line with our Sustainability Strategy and Roadmap, which aims to empower more than two million people and businesses across Asean by 2026, Mohd Rashid said,” This endeavor underscores RHB’s unwavering commitment to enhance our digital propositions and fostering financial inclusivity for all Malaysians.”

Boost Bank will expand its digital bank app features and solutions as the digital bank industry grows to better meet the needs of all Malaysians. The Debit Card is a upcoming product development that is already in the pipeline and that users can anticipate.

The Boost-RHB Digital Bank Consortium, in which RHB owns the remaining 40 % of the company’s equity and Boost holds the other 60 %, was one of the five successful license applicants announced by BNM in April 2022, and it formally reopened its doors on January 15, 2024, with official regulatory approval.

For more information, please visit Boost Bank’s website here. The Boost Bank app can now be downloaded from the Google Play Store and the Apple App Store.

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LGMS, introduces StarSentry, in-house developed plug and play box to help SMEs fend off cyber threats

  • 2- year&nbsp, R&amp, D work, release comes on feet of&nbsp, regional Security Bill 2024&nbsp,
  • AI&nbsp, bot to get latest feature added&nbsp, to help boost understaffed SMEs deal with threats

(From left) Masaaki Morimoto, Deputy CEO, Tokio Marine; Kazuhide Nakajo, COO, Mitsui & Co. (Asia Pacific); Hiromitsu Narukama, Managing Director, Mitsui & Co. (Malaysia); Takahashi Katsuhiko, Japanese Ambassador; Yong Meng Hong, CEO, Applied Security Intelligence; Gobind Singh Deo, Minister of Digital; Fong Choong Fook, Executive Chairman, LGMS Bhd; JH Soong, CEO, VSTECS Bhd; Syed Ibrahim Syed Noh, Chairman, Malaysia Digital Economy Corporation (MDEC); Gopi Ganesalingam, Head of Digital Exports, MDEC; Dr. Amirudin Abdul Wahab, CEO, CyberSecurity Malaysia.

According to LGMS Bhd, a Malay cybersecurity firm listed on Bursa Malaysia, &nbsp, 84.7 % of SMEs in the country have experienced virtual challenges in 2022. And with the digital business projected to add 25 % to GDP by the year 2025, Gobind Singh, Malaysia’s secretary of digital, has made cybersecurity a top priority. &nbsp,

” As our business continues to move to new online paradigms, the administration’s commitment to securing our modern landscape is more heightened. In this environment, security has evolved from a specific problem to what we name as a basic necessity”, said Gobind&nbsp, on 4th June at the start of StarSentry. &nbsp,

StarSentry is a plug-and-play box developed by LGMS subsidiary Applied Security Intelligence Sdn Bhd ( ASI) after two years of R&D.

The government’s introduction of the Cyber Security Bill 2024, which holds organizations that run National Critical Information Facilities (NCII ) accountable for security vulnerabilities that affect them and their customers, followed the release of StarSentry in April.

The Malaysian Critical National Information Infrastructure is protected by the Cyber Security Bill 2024, which applies to both the country’s economy and company procedures. According to Gobind, the Bill may hold specific company directors accountable if it is discovered that they have neglected cybersecurity and the result of the company being compromised. NCII aims to protect both large and small businesses in order to create a secure online business environment.

LGMS, introduces StarSentry, in-house developed plug and play box to help SMEs fend off cyber threats

Chairman of LGMS Fong Choong Fook ( pic ), who stressed the value of visibility and early detection, also reacted with caution about the dangers of being unaware of cyber risks and how to protect against cyber threats. &nbsp,

Fong noted that the biggest challenge for SMEs was merely identifying where their greatest danger lay, despite the fact that smaller companies may not be able to employ security consultants or protection engineers. Because there are so many options, he said,” they do n’t know where to start when choosing a cybersecurity solution.”

This is the reason StarSentry was created.

” Therefore, StarSentry offers a consumer- friendly, plug- and- play ( place the equipment without any extra construction ) approach at an affordable price, it encompasses a comprehensive answer for SMEs to be aware of cyber threats within their structure through advanced risk scanning and proactive threat detection features, along with cyber risk insurance for eligible subscribers”, Fong said.

Like a” security md,” it conducts risk checks on a weekly basis to inform SMEs ahead of time what kind of virtual threats they may encounter.

An interior server security that acts as a trap for any possible hackers and quarantines them is another interesting feature. Terminal protection is delivered by WithSecure, a Finland based lover of LGMS.

We are even considering using an AI bot to assist SME owners learn more about the reports Star Sentry has produced, Fong said.

A one- year subscription costs US$ 2, 745 ( RM12, 900 ) with 1 to 1 swap warranty during subscription period and software lifetime OTA upgrades and regular updates. LGMS declined to disclose the estimated costs involved in developing StarSentry and the earnings growth.

LGMS via ASI even established partnerships with Tokio Marine Insurans Bhd and VSTECS Astar Sdn Bhd at the celebration. &nbsp, The former underwrites cyber insurance worth ( US$ 6, 384 ) RM30, 000 for StarSentry subscribers while the latter is StarSentry’s exclusive distributor.

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Avanade appoints Bhavya Kapoor as new Growth Markets Area President 

  • Achieves Rodrigo Caserta, then Avanade’s Global Technology Business Group direct
  • Responsiblilities include accelerating progress, expanding Avanade’s business management

Avanade appoints Bhavya Kapoor as new Growth Markets Area President 

Avanade, the leading Microsoft solutions provider, has announced that it has appointed Bhavya Kapoor ( pic ) as the new area president for Growth Markets. Most recently, Bhavya, the company’s Southeast Asia handling director, succeeds Rodrigo De Queiroz Caserta in his novel capacity as Avanade’s Global Technology Business Group leader. Both sessions take effect on June 1st, 2024. &nbsp,

In his fresh position, Bhavya is responsible for Avanade’s proper way and priorities, accelerating business development, expanding the company’s market- leading position, and creating an inclusive culture across Avanade’s most different regions that include Asia- Pacific, Japan and Latin America. Bhavya reports into Pamela Maynard, CEO of Avanade, and joins Avanade’s international Executive Committee. He continues to be based in Singapore.

Bhavya joined Avanade in 2021 as its Southeast Asia handling producer, with over two decades of experience in business management, technology and auditing. Under his management, Avanade’s Southeast Asia firm has experienced twice- digit growth, recognized as an inclusive company, and named Microsoft’s leading partner in the region. &nbsp,

Bhavya graduated from Harvard Business School, holds a bachelor’s degree in electronics and communications, and is a graduate of Harvard Business School. He also serves on the board of directors of the International Institute of Rural Reconstruction, a global non-profit firm whose goal is to inspire rural individuals to develop resilient communities and achieve social equality through innovative and community-led action.

Pamela Maynard said” With Bhavya’s proven track record of creating and ramping businesses in large- development regions, complemented by his love for inclusion, diversity and sustainability, I am convinced that he will continue to drive our business to new heights. Rodrigo Caserta deserves special appreciation for the tremendous impact he has had on our Growth Markets business over the past four years. I look forward to Caserta’s application of Growth Markets ‘ learnings and experiences to his new position as Avanade’s Global Technology Business Group Lead.

Growing Markets is an exciting fusion of the world’s most dynamic and diverse territories, according to Bhavya, and I’m honored to lead our people and business into the next chapter of growth. I’m eager to embark on this journey together with our people, clients, communities, and ecosystem partners because these areas are filled with exceptional talents and organizations with enormous potential. Through the use of AI, data, and human ingenuity, we will empower people and businesses to make a real human impact.

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DisruptInvest 2024: Gobind Singh talks digital, true investments and Madani but can he be bold?

  • Set off the same old and dated justifications for why it is impossible and believe in yourself.
  • work with other officials to improve the nation’s reputation as a modern citizen.

Gobind Singh, Minister of Digital (7th from right) with Ben Lim, founder and CEo of Nexea Ventures, which organised DisruptInvest 2024, with speakers and partipants.
GobidMalaysia’s Minister of Digital, Gobind Singh, spoke at the 5th DisruptInvest Summit on 23 May where he highlighted the administration’s dedication to support and help develop a strong business ecology through various initiatives, with the release of the annual KL20 summit in April designed to help light Malaysia’s business ecosystem to foreign VCs, as the latest signal of this intent. The government emphasized its goal of making Kuala Lumpur the Top 20 World Startup Ecosystem, thus KL20, by 2030.

In six and a half years, leapfroging 50 spots is a significant challenge that will require strong actions and strong government support, especially since KL is already in the 70th spot.

One such bold move, and yet low hanging fruit, will be to get authorities, the largest consumer of software companies in the country, to have its various departments and agencies move a small percentage, say 10 %, of their IT spend to businesses and homegrown software companies that have built their own solutions.

This concept has been repeatedly pushed aside and is not novel. I once asked Malaysian Prime Minister Mahathir Mohamad about the legality of requiring a small portion of government IT spending to be distributed to Malaysian tech companies in a press conference in 2002 in order to demonstrate the viability of their solutions. The question was not taken seriously.

But two decades later, the question must be taken seriously. Because, today, just as back then, the government aspires for Malaysian tech companies and its startups to be regional if not, global players. Stop aspiring for such bold goals if, as some have crossed RM400 million in revenue, we still do n’t show confidence in our own homegrown tech founders and their businesses today, because actions reveal true intent.

Here, Gobind can lead by example, be bold. The Digital Ministry should be the most digital in terms of its processes and engagement with the public and business because it is a new ministry and has no long-established relationships with IT vendors. Gobind must put aside the same old and dated justifications for why it is impossible and give favor to local tech startups.

The knowledge he acquires can then be applied to Minister Rafizi Ramli, a former minister himself, to the Economy Ministry. And so on to another ministry and so on.

Let’s see if Gobind, whose appointment as minister was well greeted by the tech ecosystem, leads the way.

Importance of capital

Gobind who also spoke at KL20, described capital as a catalyst to fuel KL20’s ambition, empowering innovators to push boundaries, challenge the status quo. The investments of today will be what will make the world of tomorrow,” he declared. The CEO of Vertex Holdings, Chua Kee Lock, who emphasized during his keynote that funding is a key factor in startup success, also made reference to the importance of capital.

This is also the reason the government is coordinating the two main public startup funding organizations, Mavcap Bhd and Penjana Kapital Sdn Bhd, into one entity that is governed by Khazanah Nasional Bhd, a sovereign wealth fund. Consolidation will give the government better visibility into the performance of its startup investments because both operate as fund of funds.

Gobind has a broad scope of responsibility as the digital minister, which is the first time such a ministry has been established in Malaysia. The National ICT Association, Pikom, anticipates that the Digital Economy will contribute to Malaysia’s economy by this year, as measured by GDP. As such, when he speaks of investment, Gobind does not just refer to startup funding.

For instance, he noted the 279 % jump in digital economy investments ( mainly in data centres ) the country enjoyed in the first half of 2023, translating to RM28.4 billion. And, without giving the time frame, he shared that almost 70 % of Malaysia’s RM225 billion approved investments are in the digital economy.

]Ed: Approved investments are not the same as realized investments with the latter always falling short of the former due to factors such as changes in company’s leadership/direction, macroeconomy shifts, and where investors and the government are unable to agree on actual details/benefits. ]

He also shared that Malaysia Digital Economy Corporation ( MDEC ), one of the agencies under his portfolio, had facilitated 262 funding deals for local tech companies, worth US$ 402 million between 2020 and 2023.

Gobind’s responsibility, as Digital Minister, is to collaborate with other ministers to make the country shine as a digital nation and a digital economy with a highly digital savvy population. Take care of that, and startups will make investments that are digitally skewed, either for automation of manufacturing, or to increase business efficiency through the use of 5G technology.

One international collaboration Gobind mentioned is with the world’s leading pre-advisor, Draper University, which announced in March that it would establish its first campus outside of Silicon Valley. Such a move is crucial for advancing and leading the VC pipeline and startups looking to expand in Malaysia, according to Gobind.

Does not see need to stamp mark by creating new blue prints/masterplans

With less than 280 bureaucrats ( note that this is separate from the headcount of the various agencies that report to the ministry ), Gobind’s leadership of the Digital Ministry is interesting because he is carrying out the role by working within already established initiatives to support the digital economy rather than launching any big bang blueprints or road maps himself.

His argument was that the execution of the current roadmaps and blueprints is essential for success. Changes needed, based on ecosystem feedback, can be done without tearing up existing plans and starting over. He does n’t feel the need to use big initiatives to stamp his own mark, according to an executive who is aware of his mindset. Gobind believes he is applying the lessons he learned from his first two years as minister, from May 2018 to February 2020.

He also advocates for the welfare of consumers and businesses. When given information on the activities of the organizations and businesses that report to him, including MDEC, MyDigital Corp, CyberSecurity Malaysia ( CSM), and Digital Nasional Bhd ( DNB), Gobind tries to understand how the target market can profit. He has made it abundantly clear that he does not want initiatives to be run or new ones to be developed solely for the sake of reporting, according to the executive.

Seeking inclusive, sustainable growth via Madani framework

Gobind emphasized that” true investment is not only about allocating capital,” with the Madani Economic Framework serving as the government’s guiding principle for the government’s leadership and development agenda. By investing in the advancement of humanity and the advancement of society, it aims to foster a legacy of prosperity and progress.

He claimed that this serves as” the moral compass for initiatives like the KL20 Summit, with action plans geared toward ensuring sustainable economic growth and social justice.”

And Gobind emphasized that his government is committed to creating a conducive digital ecosystem for the nation and the region with Malaysia taking over the ASEAN chair next year. ” This cannot be done without ethical investment”.

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