AEON Bank launches as first Islamic digital bank in Malaysia

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  • introducing private banking services before advancing to small companies
  • Items can be converted to cash and credited to company’s AEON Bank profile

(L2R): Mahmood Merican, Secretary General of Treasury, Ministry of Finance; Raja Teh Maimunah, CEO of AEON Bank; Daisuke Maeda, Non-Independent Executive Director of AEON Bank & Chairman of AEON Credit Service (M) Bhd; Naoya Okada, Managing Director of AEON Co (M) Bhd.

AEON Bank ( M ) Bhd announced its public launch on 26 May, making its mark as Malaysia’s first Islamic digital bank. It joins GX Bank and Boost- RHB Digital Bank, and two more online businesses are yet to start. The consortiums of KAF Investment Bank and SEA Ltd.- YTL Digital Capital have not yet offered their service.
AEON Bank is starting off with personal banking services such as Savings Account-i, Savings Pots with customisable optimisation features, budgeting tools, with more to come in the future. Users that activate their account will be able to immediately access their virtual AEON Bank x Visa Debit Card-i and request for their own physical Debit Card-i.

The trust that was placed in us to lay the foundations and establish Malaysia’s first entirely Muslim electronic bank is deeply humbled and honoured. After 40 years of operation in Malaysia, this is a major milestone for AEON Group in that state. Our goal is to provide all Malaysians with secure, streamlined, and equitable online banking options that are compliant with Shariah. We are still in the early stages of the product rollout process and will continue to add new features and products to our private bank customers. Over moment, we did increase our products and services to little firms”, said Raja Teh Maimunah, CEO of AEON Bank.

Customers who activate their accounts will also be eligible for a sign-up bonus of 3, 000 AEON Points and 3X AEON Points in addition to the company’s annual profit rate of 3.88 %. This promotion is exclusive to the public launch campaign.

Moreover, customers that are part of the AEON Points Programme may automatically include their membership linked with the AEON Bank app, which may help them to enjoy more benefits and rewards when they make payments at AEON Group’s outlets and merchants, including AEON Mall, AEON Supermarket, AEON Wellness, La Boheme Bakery, AEON Fantasy, and more, adding another layer of value and convenience for customers via the larger and complete AEON ecosystem. The customer’s AEON Bank account will then receive the earned AEON points in the form of cash.

During the launch, AEON Bank is anticipated to engage more than 10,000 AEON members and customers through on-ground activation, starting on June 2nd. Nationwide roadshows will run in Kelantan, Kuala Lumpur, Johor, Penang, Negeri Sembilan, Perak, Melaka, and Sarawak from June till November 2024.

The public launch took place at AEON Mall Shah Alam, with Johan Mahmood Merican, Secretary General of Treasury, Ministry of Finance as guest of honor. AEON leaders in attendance included Naoya Okada, MD of AEON Co. ( M ) Bhd, Shunsuke Shirakawa, Chairman of AEON Financial Service Co, Ltd, Japan, Mitsugu Tamai, Director and Managing Executive Officer of AEON Financial Service Co, Ltd, Japan, Daisuke Maeda, MD, AEON Credit Service ( M ) Bhd, and Tomokatsu Yoshitoshi, Chairman and Independent Non- Executive Director of AEON Bank ( M ) Bhd.

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Asia Mobiliti addresses allegations of improper conduct against it winning 9-month contract with Selangor state

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  • 2018 launched business forerunner in Demand-Responsive-Transit in M’sia
  • Opportunity to prove itself in arguably first of its kind state-program in Lake

The 2022 launch of DRT Mobility pilot by Asia Mobiliti. Founder and CEO Ramachandran Muniandy is 2nd from right.

Asia Mobiliti, a Malaysia Digital ( MD) status company has been subjected to a recent online campaign by certain unidentified parties that have casted doubts on the process by which we were appointed by the Selangor state government to operate Demand-Responsive Transit ( DRT ) service for the public.

Our appointment as one of two DRT service providers for the Selangor Mobility program was first announced at a public forum organised by the Selangor state government with Majlis Bandaraya Shah Alam ( MBSA ) and Menteri Besar Selangor Incorporated ( MBI ) on 15th June 2023. This was followed by the standard opening of the Selangor Mobility company logo and area statement at the Selangor Smart City & Digital Economy Convention ( SDEC ) on 20th October 2023. This session was likewise announced in our own press release at that time which was carried by several media companies and published on our site.

DRT is a ground-breaking technologies for public transport that enables on-demand expressed rides services with the use of clever, machine-learning algorithms to manage fleet dispatch and optimise vehicle routing to perform effective pick-up and drop-off of passengers headed to different destinations. Tickets are made via a customer application while drivers are guided by a vehicle app. Operating within a geofenced area, this provides for more effective and cost-effective primary- & last-mile customer services, freed from a fixed routine and fixed way of normal public transport solutions.

As the inventors of DRT in Malaysia with Trek Rides, we conducted a secret captain of the company in September 2021 in Petaling Jaya for appropriate partners and clients which was commonly reported next. Following the successful pilot and the validation of use, we were the first to be licensed by Agensi Pengangkutan Awam Darat ( APAD ) to operate a ‘bus-on-demand ’ service in December 2022 and remain the only company with a made in Malaysia system, designed and developed by our Engineering & Technology team as part of our Mobility-as-a-Service ( MaaS ) platform, Trek.

Aside from Trek Rides, the platform consists of various proprietary and revolutionary products including a attached vehicle system, drive-by condition monitoring systems for railway tracks and road surface, an IoT connectivity platform, a transit data feed service consumed by a worldwide mapping client based in the Netherlands, a data analytics tool for city-wide mobility insights, and a bidirectional journey planning and ticketing engine that connects all modes of transport in a city.

Founded in 2018, we are a proudly Malaysian startup co-founded by Premesh Chandran and Ramachandran Muniandy that have since earned global and regional recognition, among which includes the Newton Ungku Omar Fund Grand Challenge 2019 winner; a global semi-finalist for Toyota Mobility Foundation’s 2020 CATCH challenge; a global Top 150 semi-finalist for X-PITC H 2021; sole Malaysian representative in the Entrepreneurship World Cup Global Finals 2022; Trek Rides recognised as a global Top 100 solution in the 2023 AcceliCITY Resilience Challenge; winner of the Carsome Mobility Lab accelerator program which was the first auto ecosystem-focused accelerator in Southeast Asia; and most recently, selected into the 100Soonicorns program consisting of technology startups in Malaysia with the potential to be a unicorn.

Our support of the Selangor Mobility program underscores the need for ecosystem building and for strategic public-private partnerships without which it would be impossible for Selangor to be the first in Malaysia to provide DRT services to the public. Across the five zones which we operate ( four of which are for Selangor Mobility which began in November 2023 ), we are on track to achieve a record high of 14,000 ridership this month ( May 2024 ).

We regularly bid for tenders and like any other competitive business, we are successful with some and not so successful with others. Being a highly transparent and ethical business which is an extension of the personal values of our co-founders, we abhor collusion and anti-competitive practices by any party, especially government agencies and corporates.

In the context of the Selangor Mobility appointment process, we understand the reasons given for awarding two companies instead of one. An open tender in this situation of a highly specialised new service and with only two qualified companies in Malaysia would have created a monopoly situation in the state. This would have stifled competitiveness and robbed the opportunity for the state to pilot the service in a real-world setting and assess the performance of the service providers over a reasonable period.

It must be noted that the appointment is only for a period of nine months and required extensive investment from both service providers in terms of procuring vehicles, hiring drivers and continuous optimisation and development of the technology that powered the service. The state received the best value for its investment and provided the opportunity for two companies to prove themselves and design a new service for the state which is arguably the first of its kind state-program anywhere in Southeast Asia.

The success of the Selangor Mobility program has also led to Prasarana and the Ministry of Transport announcing the adoption of DRT as a replacement for conventional feeder bus services with RapidKL running a very successful pilot in May 2023 with Trek Rides in UM-Bangsar South which we continue to operate independently.

As a company committed to its responsibilities towards its clients and shareholders, we take these recent accusations seriously and will exercise our legal options where necessary in safeguarding our reputation and credibility. We view this as an unsubstantiated attack against a Malaysian technology startup.

We remain committed to our mission of improving mobility in cities of the developing world, beginning with Kuala Lumpur, with the use of cutting-edge technology and data. We will continue to invest into creating value in Malaysia and prove that good things can come out of Malaysia.

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Former HKEX BayConnect CEO and Hashkey CTO join MetaComp as CTO

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  • served for the Dalian Commodity Exchange as Head of Technology for 15 times.
  • Tasked with integrating bitcoin systems, expanding MetaComp’s system functions

Former HKEX BayConnect CEO and Hashkey CTO join MetaComp as CTO

Peter Luo ( pic ) has been named as MetaComp Pte Ltd’s new chief technical officer ( CTO ), a licensed entity under the Monetary Authority of Singapore ( MAS ). Luo brings a wealth of knowledge and a track record in modern technology, cryptocurrency, and money market techniques.

Luo founded the professional team at Wanxiang Blockchain and served as CTO and VP of Hashkey in 2017. He previously led the Dalian Commodity Exchange for 15 times as its head of the tech planning office and was in charge of the tech cooperation with Nasdaq OMX and NYSE Euronext. He then became the General Manager of HKEX’s BayConnect Technologies. &nbsp,

Luo’s visit comes at a crucial moment for MetaComp as the business strengthens and expands its custom Client Assets Management Platform. Luo will play a key role in integrating cutting-edge bitcoin technologies into conventional financial services systems and enhancing the platform’s capabilities to better serve MetaComp’s rapidly expanding client base.

Dr. Bai Bo, Chairman and Co- chairman of MetaComp, stated,” MetaComp is excited to bring Luo into the group. His extensive experience and proven leadership in conventional banking and cryptocurrency technologies make him the best person to help us advance our professional vision.

Our Client Asset Management Platform, which we believe will be the most advanced option for cryptocurrency technology, is constantly being improved. Luo’s knowledge will help us strengthen our complex base and provide customers with cutting-edge options as we continue to innovate and expand our services, he continued.

Luo continued,” I am delighted at this opportunity and look forward to developing more seamless technology to connect traditional world financial assets with digital assets and crypto. My efforts will be to keep us on the cutting edge of the rapid technological change that is happening.

To create a financial ecosystem where digital assets and conventional financial products coexist and complement each other, offering opportunities, growth, and innovation, MetaComp and its parent company, Metaverse Green Exchange Pte Ltd, are dedicated to the seamless integration of crypto finance and traditional finance.

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Alibaba Cloud announces new availability zones and global investment to fuel AI innovation

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  • New funding aims to strengthen cloud, AI item suite
  • collaborates with international institutions to give the next generation Artificial training

Selina Yuan, president of International Business at Alibaba Cloud Intelligence, announced Alibaba Cloud will Launch New Availability Z

Alibaba Cloud, the modern technology and knowledge foundation of Alibaba Group, announced its plan to launch its first sky region in Mexico, and to create additional data centers in its essential markets including Malaysia, the Philippines, Thailand, and South Korea within the next three years. &nbsp,

The company stated in a statement that the new investment to create cloud and AI infrastructure across key global markets aims to strengthen the cloud and AI product suite for its international customers while fostering global partnerships and AI talent development to foster future modern expertise.

At the Alibaba Cloud Global Summit in Paris, Selina Yuan, president of international business, said,” We are reinforcing our commitment to expanding our AI infrastructure and enhancing our cloud capacities globally.” ” Meanwhile, our digital talent initiatives, in collaboration with global universities and local partners in our key markets, will further equip the upcoming generation with the requisite AI skills”, she added.

Model Studio for International AI Development

Alibaba Cloud’s top generative AI development platform, Model Studio, will soon be accessible to international customers via its Availability Zones in Singapore to better enable enterprises and developers to develop AI models and applications.

Customers can use Model Studio to access Alibaba Cloud’s large language model Qwen family, which includes both closed-source and open-source models with multimodal capabilities and sizes that range from 0. 5 billion to several hundred billion parameters, to help develop custom generative AI applications. In the second half of the year, additional model fine-tuning and inferencing tools and services will be available, enabling the creation of more sophisticated AI tasks with greater cost-efficiency.

Enhanced Partnerships to Elevate Customer Experience

Alibaba Cloud announced it has strengthened its partnership with SAP in order to introduce a one-stop enterprise solution for small and medium-sized enterprises in Asia that will enable rapid deployment and on-demand expansion capabilities.

This integrated cloud-based business management solution is poised to give SMEs in Asia a powerful, scalable enterprise resource planning ( ERP ) system on the cloud without the need for significant initial investment in IT infrastructure by combining SAP Business One’s holistic business management capabilities with Alibaba Cloud’s scalable, secure, and cost-effective cloud infrastructure.

The new solution makes it easier for SAP Business One partners to quickly deploy the solution for their customers on the cloud by using Alibaba Cloud’s compute nest technology, which facilitates seamless integration of SAP Business One services with Alibaba Cloud. This synergy, it said, will empower SMEs to navigate market fluctuations with agility, optimize operational efficiency, and seize growth opportunities.

Alibaba Cloud announced it is developing a Salesforce on Alibaba Cloud training course in China in response to the growing interest and demand from multinational companies operating in the country. The exclusive course is designed for multinational corporations, focusing on how to use and master Salesforce CRM, as well as its integrated and localized features, and products that Alibaba Cloud supports and supports globally. Salesforce has helped multinational brands meet the distinct needs of the Chinese market while maintaining consistency for its global Salesforce products, including Salesforce Sales Cloud, Service Cloud, and Salesforce Platform, since Alibaba Cloud is exclusive access to Salesforce in China starting at the end of 2023.

The training program offers customized offline training to teach essential competencies and skills needed for an administrator position on the Salesforce platform and the Alibaba Cloud platform. The course, which is designed to be beginner-friendly, aims to help participants learn how to use the system and its localized features using Alibaba Cloud’s reputable cloud infrastructure. It improves participants ‘ ability to migrate and integrate seamlessly into the Salesforce ecosystem, resulting in better synergy and coordination in a global work environment. By the end of 2025, the program aims to provide over 10,000 participants with the necessary skills to master the Salesforce platform in China through a gradual rollout.

Digital Training with Global Education Institutes

A leading European corporate training provider, Demos Group, and Alibaba Cloud today announced a new partnership. The two parties will launch a suite of Alibaba Cloud online courses, focusing on cloud computing, data analytics, and AI, aimed at enhancing the digital competencies of Demos ‘ corporate clients ‘ workforce. Additionally, Alaba Cloud and OxValue are working together. AI, a deep- tech venture from the University of Oxford, to broaden the suite of Alibaba Cloud capabilities provided to end customers, including AI- driven valuation services.

Moreover, Alibaba Cloud is initiating collaborations with several international universities— University of Reading, Singapore University of Social Sciences, King Mongkut’s University of Technology Thonburi, Arovy University, University Saint Thomas Mozambique—to introduce cloud computing and AI courses with the aim to cultivate a new generation of AI experts.

Developing Effective Collaboration to Serve Global Customers

A growing number of international customers have chosen Alibaba Cloud for its reliable cloud computing capabilities and proven AI technologies, which are essential for their rapid digital transformation journey and the pursuit of AI innovation:

• Alibaba Group, the world leader in high-quality goods, and LVMH Group, the world leader in high-quality goods, announced an extended partnership to advance the level of luxury experience in China through the use of Alibaba’s cloud technologies through Tmall’s AI-powered innovations in the retail and online. In its pursuit of relentless innovation, LVMH has begun integrating Alibaba Cloud’s generative AI capabilities, including Qwen, Alibaba’s proprietary large language model, and Model Studio. This integration has made it possible to develop novel applications and services that demonstrate the luxury Maison’s commitment to staying at the forefront of innovation, utilizing cutting-edge technology to enhance its luxury offerings for global consumers, and encouraging innovation-led growth within its global retail businesses.

• Alibaba Cloud’s infrastructure was used by FathomX, a digital health AI company that is emerging from the National University of Singapore, to support its AI-driven breast cancer detection system. The partnership has resulted in a 27.6 % annual cost savings of infrastructure. This improvement in efficiency allows FathomX to expand its operations and provide cutting-edge healthcare solutions worldwide.

Since signing a strategic partnership last year, Alibaba Cloud has been assisting the International Canoe Federation in finding ways to measure and improve the sustainability of its events around the world. The ICF will expand the strategic partnership by looking into the potential of using Alibaba Cloud’s AI-driven ESG solutions to lessen the impact and carbon footprint at its events and coordinate sustainable activities to promote collaborative efforts.

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Soft Space enables Tap to Pay on iPhone for stera tap iOS app in Japan

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    Lovers with Sumitomo Mitsui Card Company and&nbsp, GMO Financial Gate, its shareholders

  • enables SMEs to use simple, safe wireless payment processing on an iPhone.

Soft Space enables Tap to Pay on iPhone for stera tap iOS app in Japan

The collaboration between Soft Space, a Malaysian fintech company offering payment services in Asia, and Sumitomo Mitsui Card Company, Limited ( SMCC), GMO Financial Gate, Inc. ( GMO- FG), SMBC GMO PAYMENT Inc. (SGP), and GMO Global, Inc. ( SMCC), announced that they have collaborated in Japan to enable Tap to Pay, an iOS app provided by GMO- FG.

One of Japan’s largest transaction processing firms, GMO- FG invested into Soft Space in March 2024. SMCC, which invested into Soft Space in April 2018, is one of Japan’s leading credit card companies. No information about the investment was made people. GMO-FG and SMCC collaborate on SGP.

With the company enabled, Japanese businesses can process contactless payments securely and simply using an iPhone. Only the iPhone and the” stera tap” iOS app with simple set-up are now available for merchants to accept contactless credit and debit cards, Apple Pay, and other digital wallets. Merchants can begin accepting Visa and Mastercard smart payments in as little as 15 minutes after submitting their software on the game itself. No extra equipment or pay terminals are required.

Apple Tap to Pay for Stevia Tap is something we’ve been anticipating ever since it first came out on March 25th, 2018, according to Joel Tay ( main pic ), CEO of Soft Space. We anticipate that Apple Tap to Pay’s entrance into Japan will encourage SoftPOS progress and give businesses and acquiring companies the confidence they need to begin introducing SoftPOS solutions to their merchants in large numbers.

After Soft Space introduced Tap to Paid in Australia in May 2023, Joel stated that Soft Space sees this success as the start of its global expansion strategy. It also serves as a testament to our ongoing commitment to facilitating digital societies. Above all, we think that this is a sign of the powerful synergy and knowledge between us and our trusted owners, SMCC and GMO- Hg, and a sign of the start of greater things to come.

Contactless payments are becoming more popular in Japan, with a figure of around 60 % of small and medium-sized enterprises ( SMEs ) accepting them. The trouble and expense of updating payment terminals has been a major obstacle for SMEs to accepting contactless payments.

An iPhone Item or afterwards device running the most recent version of iOS is required to use the Apple Tap to Give service.

Merchants will simply prompt the user to maintain their smart payment near the merchant’s iPhone at checkout, and the transaction will be safely completed using NFC technology, where Apple’s Tap to Give on iPhone technology uses the built-in features of the iPhone to keep the business and customer data private and secure.

When a payment is processed, Apple does n’t store card numbers or exchange information on the unit or on Apple machines. The privacy-conscious Chinese consumers may enjoy the safety features of the services.

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senangPay unveils new payment options and partnerships, strengthening its market position

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  • New API payout feature led to a 20 % –30 % transaction volume growth recently
  • Says over 3 billion deals processed via its online gate &amp, stations

Chew Siew King, managing director, head of Transaction Banking, OCBC Bank (left) and Mohd Aiman bin Abd Mutalib, VP of Account and Finance, senangPay

Following the launch of the first Indonesian JCB pay gate in partnership with Soft Space, senangPay, a local payment gateway, founded by Malaysian companies, &nbsp, has achieved major new goals.

The Asset’s Triple A Awards 2024, which the business received, praised for its dedication to offering firms a complete payment gateway solution with powerful yet easy API integration, was named Best Option Bills and Collections in Malaysia.

senangPay, which began as a simple solution for online transaction transactions for Malay enterprises, aims to guide the online payment trend by introducing innovative repayment options and features like SPayLater, Pay API, and its senangTap pay2phone have. Additionally, it intends to keep forming proper alliances with regional and private sector organizations. SenangPay is investing more in digital payment systems for both online and offline companies as consumers become more and more aware of this.

In 2021, senangPay was acquired by Doku, a qualified transaction finance company in Indonesia. CEO of Doku Chris Yeo stated that this collaboration has given senangPay more options for payment options, with nearly 30 options to choose from. SenangPay’s commitment to providing revolutionary payment options to SME vendors is reinforced by the new additions of JCB and SPayLater as repayment options. &nbsp,

Yeo noted that the rise in payment options has resulted in significant increases in transactions, which are reflected by Malaysians ‘ growing preference for cashless transactions.

With the most advanced payment technology from Doku, Yeo said,” Both parties can effectively collaborate to help digitalize the Malaysian payment landscape, making it more seamless and effective for everyone.”

SenangPay, which has a base of over 3, 500 active merchants, claims it has processed over three billion transactions through its online payment gateway and physical terminals. The new API payout feature has seen a 20 % to 30 % increase in transaction volume in recent months. &nbsp, senangPay unveils new payment options and partnerships, strengthening its market position

SenangPay was founded with the idea of enabling SMEs to go digital without any obstacles, and it has since developed into a feature-rich payment gateway that supports businesses of all sizes.

SenangPay adheres to PCI DSS compliance standards and is regulated by Bank Negara Malaysia. Mdec’s Malaysia Digital Status has recognized its commitment to security. &nbsp,

Recently, senangPay announced a collaboration with Mdec’s De Rantau programme, which aims to position Malaysia as the premier digital nomad hub in the ASEAN region. This initiative seeks to enhance digital adoption, promote professional mobility, and encourage tourism throughout the country. The company stated that through this partnership, SMEs can access a two- year subscription to senangPay’s Advance package at an affordable rate of just US$ 0.5 ( RM0.25 ) per day.

Expanding its collaborative horizon, senangPay has partnered with Seedflex, a Shariah- compliant fintech company, to introduce its market- first Pay- As- You- Sell ( Pays ) Advance ™ financing solution. Merchants can receive a dynamic credit facility through Pays AdvanceTM as automated fractional deductions from upcoming sales. SME can access Pays AdvanceTM by simply registering their interest with SenangPay, receiving and paying it back quickly and hassle-free from their SenangPay account.

With the most recent payment options and features available, senangPay claims to have continued on its successful streak. SenangPay has been providing retail payment options since 2023, including the launch of both the physical payment terminals and the pay2phone mobile app. To help more SMEs, especially those in the retail sector, it will continue to promote these offline services in addition to its online offerings.

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DisruptInvest 2024:Chua Kee Lock of Vertex Holdings on the 3 key trends emerging, and the exit of momentum investors

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A snapshot of some of the investments made by Vertex Ventures Southeast Asia & India.

DisruptInvest 2024:Chua Kee Lock of Vertex Holdings on the 3 key trends emerging, and the exit of momentum investorsWith only three days until the DisruptInvest Summit on May 23rd in Kuala Lumpur, keynote speaker and one of the most successful venture capital firms in Asia, Chua Kee Lock ( pic ), CEO of Vertex Holdings, who leads a network of seven funds ( with Japan being the most recent ), with around 90 VC professionals, shares his quick thoughts with DNA on the tech trends he sees. We even questioned whether he thought Penang or Singapore had the tastier city food. ( Spoiler alert, his answer is not spicy. )

Can you introduce Vertex Holdings and its seven resources to us first?

&nbsp, Vertex Holdings, &nbsp, is a Singapore- based venture capital investment holding organization. A custom worldwide system of venture capital funds receives anchor funding and functional support.

&nbsp, At provide, we have seven community partnerships, each with different focus sections. Our Vertex community of cash invests in early stage technology prospects through Vertex Ventures, especially –&nbsp, Vertex Ventures China, &nbsp, Vertex Ventures Israel, Vertex Ventures Southeast Asia &amp, India, &nbsp, Vertex Ventures US.

We recently welcomed&nbsp, Vertex Ventures Japan into our Vertex global network which launched its inaugural ¥10 billion ( RM299.7 million ) fund with Vertex Holdings as its anchor investor. The account will concentrate on investing in leading Chinese startups with strong growth potentials in Deeptech, DX, AI, and the creator economy.

For our international funds, we have &nbsp, Vertex Ventures HC, which specialises in first- level medical opportunities and&nbsp, Vertex Growth, which targets development- stage opportunities across technology and healthcare sectors. &nbsp,
 
Each Vertex portfolio is run by its own General Partners, who manage each of its own local and regional partners. Collaboration and information sharing are promoted among the money through the Vertex international community. &nbsp,

Can you provide your opinion on the current funding landscape ( based on the sites and investment elements of the 7 Vertex money ) and the top 3 disruptive changes emerging from the network? &nbsp, &nbsp,

We do see pockets of prospects emerging throughout our community, given the breadth and scope of our global community. The flood of international technological disruption is underway, and the cost of developing new products is decreasing as a result. This results in exponential growth in computer power and a corresponding decrease in technology costs over time. In the last 20 years, many nations have established and maintained their modern facilities, facilitating the adoption of new technologies. &nbsp,

With the fast adoption of technology, we are witnessing some important changes emerging:

  1. Generative AI programs are changing the future of business, from boosting productivity to developing novel business models.
  2. The rise of” As- a- service” ( XaaS ) model – With a subscription basis model, businesses are transforming how they utilize technology.
  3. With the rapid progress in AI, we think these industries will use AI to strengthen their current software and choices. &nbsp, &nbsp,

Beyond AI as the current and future pattern, it is difficult to see beyond internet protection and the latest buzz. What are the changes Vertex sees, however, from your point of view?

&nbsp, &nbsp, &nbsp, With the general AI industry forecasted to reach around &nbsp, US$ 2.5 trillion by 2032&nbsp, and the relational AI industry poised to become at&nbsp, at&nbsp, US$ 1.3 trillion by 2032 it is no question why AI is changing the prospect. We believe AI have the potential to disrupt industries&nbsp, &nbsp, &nbsp, &nbsp, much like the internet revolution did as startups develop AI- enabled applications to transform industries.

Beyond AI, we also witnessed significant changes in the cloud computing space where the industry is moving towards specialized and intelligent cloud solutions. We see a rise in adopting hybrid and multi- cloud strategies, to leverage the strengths of&nbsp, &nbsp, &nbsp, &nbsp, different providers. The integration of AI and machine learning into cloud services will enable automation, optimisation, and deeper data analysis. Coupled with the growing focus on edge computing for real- time processing, the cloud landscape&nbsp, &nbsp, &nbsp, &nbsp, &nbsp, is&nbsp, becoming increasingly intelligent and distributed. &nbsp,

&nbsp, &nbsp, Secondly, the” as- a- service” model, often referred to as XaaS, is also experiencing remarkable growth. This model includes everything from infrastructure ( IaaS ) and platforms ( PaaaS ) to software ( SaaS ) and platforms ( PaaaS ) available on a subscription basis. Its&nbsp, &nbsp, &nbsp, appeal&nbsp, lies in the on- demand access companies have to cutting- edge technology at a cost- effective rate.

Cybersecurity is another area where we see significant advancements. The development of AI-powered attacks and specialized language models highlights the evolving nature of cyber threats. Both cyberthreat actors and cybersecurity teams ( including&nbsp, &nbsp, &nbsp, Information Technology and Operational Technology ) can leverage on AI to enhance cyberattacking tactics or respond against cyberattacks to prevent disruption. Lastly, big data and datafication are moving beyond mere volume to become&nbsp, &nbsp, actionable assets by leveraging on the power of data and AI to drive real- time decision- making. Datafication, the process of turning various information types into data, will continue to expand incorporating sources like the Internet of Things ( IoT ) &nbsp, &nbsp, and sensor networks. &nbsp,

Do you agree with the frequently stated claim that Southeast Asia is a market of 600 million or that it is much more geographically concentrated than that? Why do you say this?

Southeast Asia ( SEA ) is one of the world’s fastest- growing markets, and home to more than 600 million people. However, it is made up of a number of different nations, making it not a monolithic market. Investors should be aware of local preferences and cultural sensibilities, and they should n’t use a one-size-fits-all approach to all markets. &nbsp,

Despite recent decline, we think SEA continues to be a desirable investment destination and that Venture Capital (VC ) activities are still going strong. For instance, during COVID- 19, we witnessed a hyper investment pace between 2021- 2022 especially in Indonesia and Singapore startups. Since then, the investment pace has moderated. As concerns about the performance of existing investments arise, venture capital firms that have overinvested may instead devote capital to existing portfolios. While the overall funding has dipped, competition for high- calibre deals remain. &nbsp,

With “momentum” investors leaving the ecosystem, companies are focusing on fundamentals such as Product Market Fit, Scalability and Path to Profitability. In early-stage companies, we continue to see the development of novel and disruptive business models or technology applications, while growth stage companies are increasingly becoming more realistic about valuations by raising money at normalized valuations. &nbsp,

Which island do you feel has the more delicious street food, Penang or Singapore?

Both islands offer great options, each with its own unique flavours. Penang is renowned for its rich culinary heritage, which includes dishes like Penang char kway teow, assam laksa, and others that reflect the island’s diverse cultural influences.

Singapore, on the other hand, is famous for its hawker centres, where you can enjoy a variety of local favourites such as Hainanese chicken rice, laksa, and chili crab. &nbsp,

Personally, while I have a deep appreciation for Penang’s authentic and traditional street food, my personal preference, although slightly biased, leans towards Singapore. It is a favorite for me because of the variety and consistency of quality. Both locations are culinary have ns, so foodies from all over the world would enjoy what each has to offer.

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Nicol David Organisation, APU empower the unprivileged with digital skills

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  • Both join to build Creative Computing Workshops, using APU’s experienced professionals
  • Workshops empower poor students with essential skills, addresses electronic disparities

Left to Right: Dr Teh Choon Jin, APU’s registrar and senior director of Administration; Nicol David; Mariana de Reyes, co-founder & CEO of NDO; Prof. Dr. Ho Chin Kuan, APU’s VC; and Prof. Dr. Murali Raman, APU’s deputy VC.

The Asia Pacific University of Technology &amp, Innovation ( APU) and the Nicol David Organisation ( NDO ), led by squash champion Nicol Ann David, have collaborated to support philanthropic endeavors. &nbsp,

Through this collaboration, NDO aims to utilise APU’s expertise, particularly from the Asia Pacific Centre for Analytics ( APCA ), to introduce Creative Computing Workshops. These workshops are designed to address the differences between electronic literacy and economic opportunity in underprivileged students.

This program is the result of a Memorandum of Understanding signed between APU and NDO on February 6, 2024, which takes effect on May 10, 2024. Twenty-five students from underrepresented backgrounds are now enrolled in a complete 40-hour learning program at APU, which is scheduled to be finished by October 2024.

During her lecture at APU to launch the Innovative Computing Workshops, &nbsp, David emphasised the importance of Computer Science in fostering problem- solving skills, reasoning, and creativity. She highlighted the social and economic barriers to online opportunities that learners from B40 and M40 background face because of their social and economic status.

Echoing her sentiments, Hema Latha Krishna Nair, top professor at APU and nose of APCA, explained the show’s aim to provide hands- on experiences for B40 and M40 students, transcending silent understanding paradigms.

” We at APU have assembled a training team made up of seasoned School of Technology ( SoT ) lecturers led by Dr. Veerakumar Soundrapandian, senior SoT lecturer. The team will guide the kids in engaging in meaningful and personally related computing activities, as well as research and reevaluate the creative ways that computers use technology, she added.

The training program includes a variety of modules designed to instill both technological acumen and critical thinking skills in participants, ranging from fundamental computer operations to basic game mechanics. In combination with the Innovative Computing Workshop, APU pupils, under Hema’s assistance, have developed the NDO Learners Performance Analytics platform. This four-month job highlights the interdependence between generosity and academia, which is responsible for fostering stimulating innovation in education.

NDO enhances the learning experience by providing mechanical kits and teaching secondary skills in English skills and squash, while APU expands its infrastructure and educational support. &nbsp,

The MoU outlines a corporate strategy for creative projects between APU and NDO, spanning domains like sports analytics, systems applications, and education interventions. Both organizations are eager to use their combined knowledge to improve community and lead the charge in this area.

David, who expressed enthrallement for the relationship, hopes that it will have a revolutionary influence on society welfare and youth growth, underscoring the convergent role of sports and education as catalysts for societal change. Meanwhile, Professor Dr. Ho Chin Kuan, vice chancellor of APU, echoes this sentiment, affirming the institution’s commitment to fostering innovation and industry partnership, adding that he envisages a dynamic collaboration, characterised by mutual growth and sustained impact.

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Clarion Malaysia debuts Malaysia’s first AI and robotics-based advanced manufacturing, powered by Yes 5G Private Network

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  • The development of 5G networks will increase Malaysia’s economy and draw in foreign direct investment.
  • Clarion has reduced its manufacturing processing time by 70 % thanks to Yes 5G and AI.

From Left to Right: Patrick Ong, CPE sales leader, Dassault Systèmes, Ahmad Zaki bin Zahid, chief strategy officer, Digital Nasional Berhad, Wing K. Lee, CEO, YTL Communications Sdn. Bhd., Ma Sivanesan, deputy secretary general (Strategic Policy), Ministry Of Digital, Gobind Singh Deo, Malaysia's minister of Digital, Tan Teong Khin, managing director, Clarion (Malaysia) Sdn. Bhd., Lye Yhin Choy, CEO, Cnergenz Bhd., Haji Abdul Halim Hussain, advisor, CREST, Ng Kwang Ming, CEO, Digital Penang

Clarion Malaysia, a world automotive supplier specializing in in- vehicle infotainment equipment, has showcased its powerful trial of Malaysia’s second 5G- enabled superior manufacturing line, powered by YTL Communications ‘ Yes 5G Private Network and Cnergenz’s smart manufacturing solutions.

Gobind Singh, Malaysia’s secretary of Digital, remarked,” Clarion Malaysia’s engagement with technology solutions from Cnergenz and Dassault Systèmes is a major move in advancing Malaysia’s IR4.0 interests. The benefits of 5G include not just for users; it will also significantly increase Malaysia’s productivity and competitiveness.

He added that Malaysia will benefit from significant economic growth and become a desirable hotspot for FDI due to the country’s top public and private 5G network.

Tan Teong Khin, managing director of Clarion Malaysia, added that the relationship between Yes and Cnergenz, where their professional knowledge and answer features are crucial, helped to make this game-changing technology possible. By embracing the Yes 5G Private Network and AI-based technology, Clarion is now able to digitally enhance its production process, lower our running time by 70 %, improve materials control, improve performance, and improve quality, leading to lower operational costs and improved manufacturing quality.

For Clarion Malaysia’s production line, the smart manufacturing solution, such as cloud-based inventory systems and AI-powered Autonomous Mobile Robots, is deployed by Yes ‘ high-capacity, ultra-low latency private 5G connectivity to support mission-critical operations and security requirements. These Yes 5G Private Network solutions collectively improve production efficiency and quality by allowing for seamless integration and real-time communication between employees and the machinery managed by Dassault Systèmes ‘ next-generation ERP and PLM, leading to significant increases in productivity and quality.

” We were the first to introduce 5G to consumers and we are proud to be the first to introduce Private 5G Network to advanced manufacturing as the champion for 5G in Malaysia.” Manufacturing is all about actionable intelligence and adaptability in this new era, not just cost management. Yes 5G Private Network provides the critical high- capacity, ultra- low latency communications fabric to enable next- generation smart manufacturing, integrating AI and robotics into the factory floor”, said Wing K. Lee, CEO of YTL Communications.

He added that the Yes 5G Private Network, which is based on the most recent 5G SA ( Standalone ) Network standard, was created to fulfill the mission-critical requirements for enterprise customers with top-notch end-to-end security and resilience, giving Clarion Malaysia flexibility to enable instrumentation and automation anywhere inside the factory in a secure manner.

The Third Generation Partnership Project’s global standards for 5G SA ( Standalone ) and the Network Security Assurance Scheme are adhered to by the Yes 5G Private Network, developed in collaboration with Intel and QCT, for the highest level of 5G security. The No 5G Private Network uses Intel Xeon Scalable processors to provide high-speed connectivity and provide robust security because the traffic is completely self-contained in this onsite private 5G network, from device to device, to 5G SA core, giving the lowest latency and highest level of protection and resilience. This makes No 5G Private Network highly appropriate for mission-critical deployments.

Ahmad Zaki bin Zahid, chief strategy fficer of Digital Nasional Berhad, commented,” We are pleased to be part of this cutting- edge trial, as we continue to expand on our world- class, future- ready 5G network. It is another important milestone in DNB’s drive to transform Malaysia into a digital economy through the application of 5G technology, digitalisation, automation, and artificial intelligence in various industry verticals. Entities within the oil &amp, gas, manufacturing, and logistics sectors are now leveraging private 5G networks to automate their processes, thereby increasing operating efficiency, safety, and overall quality. We want to see more businesses take advantage of the opportunities offered by 5G.

Cnergenz provides Clarion Malaysia’s smart facility with 5G- enabled manufacturing solutions, including intelligent scanners, smart racks, X- ray automated counter, and Autonomous Mobile Robots to automate and minimise human errors, from incoming materials management to the assembly and delivery of end products from factory floor to warehouse.

Meanwhile, Dassault Systèmes ‘ 3DEXPERIENCE platform and DELMIAWorks Manufacturing ERP empower manufacturers like Clarion Malaysia to achieve greater competitiveness. The company can streamline collaboration and provide real-time operational visibility to Clarion by integrating their bill of materials and engineering bill of materials into a single platform, which will speed up the company’s new product introduction process, improve supplier interactions, and secure their intellectual property.

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Zurich Malaysia’s Takaful arms and AEON Bank partnership to create inclusive Islamic finance

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  • committed to promoting digital-first protection products as financial implementation in Malaysia
  • The collaboration offers Shariah- cooperative solutions for customers ‘ economic, personal security

Junior Cho, country CEO/head of Zurich Malaysia (3rd from right) and Raja Teh Maimunah, CEO of Aeon Bank (3rd from left); alongside Shamsul Azman, CEO of Zurich General Takaful Malaysia (1st from right); Nur Fatihah Mustafa, authorised representative of Zurich Takaful Malaysia (2nd from right); Ajith Jayaram, chief strategy officer & head of Personal Banking of AEON Bank (1st from left); and Idham Baharum, treasurer of AEON Bank (2nd from left)

In a move towards financial inclusion aligned with Islamic banking principles, Zurich Malaysia through its family takaful business, Zurich Takaful Malaysia Berhad (ZTMB) and its general takaful business, Zurich General Takaful Malaysia Berhad ( ZGTMB) has entered into a strategic partnership with Aeon Bank ( M ) Berhad, Malaysia’s first Islamic digital bank.

The partnership between Zurich Malaysia and Aeon Bank shows that the two companies are working together to provide Syariah-compliant solutions to protect the personal and financial security of local customers. The bilateral agreement signifies all parties ‘ commitments to the emergence of financial implementation, which includes offering digital-first security products within Malaysia’s powerful Islamic finance ecosystem.

Shamsul Azman, CEO of ZGTMB, stated,” We are honoured to spearhead the takaful modernization for the region, leveraging on our worldwide network, local modern capabilities to grow takaful cover for all Malaysians. We’re delighted to take our Zurich Edge argument to Aeon Bank, enabling a smooth, tailored and more important person experience. &nbsp,

He added that the partnership between the business and Aeon Bank highlights its commitment to supporting Malay in protecting their assets and creating new opportunities for the growth of the Muslim banking business in the modern place.

Echoing this attitude, Nur Fatihah Mustafa, approved agent of ZTMB, said”, In this fast age of digitalisation, we at Zurich Malaysia are constantly on the lookout for partners that coincide with our brand campaign ethos to ‘ Care For What Matters’. &nbsp,

” Our collaboration with Aeon Bank represents a shared vision for promoting Syariah-compliant financial inclusion for Malaysians of all walks of life, not only for Islamic communities, but also for Malaysians of all kinds. Through this multi- year collaboration, we are ready to meet the dynamic needs of today’s digital- savvy customers and be at the forefront of digital innovation. There is no greater priority than protecting our loved ones and our families, and we’re excited and proud to be able to do this through our partnership with Aeon Bank,” she continued.

The CEO of AEON Bank, Raja Teh Maimunah, stated in a statement that his focus is on the expansion and development of Islamic digital banking.” This collaboration between Aeon Bank and Zurich Malaysia’s takaful arms reaffirms our efforts to provide Malaysians with accessible and inclusive Syariah-compliant takaful solutions. We notice a lack of micro coverage and protection on the market, so we aspire to make it easier for Malaysians to have access to affordable options. We also look forward to working with Zurich Malaysia to realize this shared commitment.

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