VentureTech backs Pomen to drive digital transformation for fleet maintenance and workforce management 

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  • &nbsp, Investment did pull expansion into SEA, improve its platforms
  • Funds will increase products, adopt new technologies, and increase reach

VentureTECH Sdn Bhd ( VentureTECH), an impact investment company, has announced an undisclosed investment in Pomen Autodata Sdn Bhd, a Bumiputera company specialising in comprehensive Software-as-a-Service ( SaaS ) solutions focused on workforce efficiency and maintenance management — connecting demand and supply in the maintenance ecosystem. This collaboration aims to promote Pomen’s growth and enhance its impressive platforms, more digitalising the ecology for related services and operations.

Established in 2018, Pomen has emerged as a key player in incorporated SaaS options with flagship systems such as Enfleet and Engarage. Enfleet is an asset maintenance procedure management system, providing companies with clarity over their asset maintenance processes, while Engarage is a workforce management platform that enables service providers to handle end-to-end service operations. Both systems function as collaborative equipment, enhancing labor efficiency.

Trusted by consumers including Petronas, Maxis, and Edaran Otomobil Nasional Berhad, Pomen connects property owners with a community of over 2, 400 separate service companies nationwide. Through its innovative platforms, the firm is continuously enhancing its data analytics package to deliver deeper insights, predicted maintenance, and advice capabilities, with empty API integrations.

VentureTEC H’s funding may strengthen Pomen’s technical skills and push its local development into Southeast Asia. The partnership also focuses on fostering creativity, enabling Pomen to enhance its current services, connect emerging technologies, and expand its platforms to satisfy the diverse needs of industries. Through this growth, VentureTECH aims to position Pomen as a leader in digital transformation, contributing significantly to Malaysia’s evolving technology ecosystem.

Ahmad Redzuan Sidek, CEO of VentureTECH, said,” Our investment in Pomen underscores VentureTEC H’s commitment to fostering transformative local companies that champion digital innovation, socio-economic progress, and environmental sustainability. Pomen’s cutting-edge platforms address inefficiencies in the fleet maintenance ecosystem and workforce management, empowering businesses to optimise operations while creating opportunities for Bumiputera entrepreneurs to thrive in high-value sectors”.

” Beyond enhancing Pomen’s market position, this partnership will generate high-value skilled jobs in technology and engineering. By strengthening the digital ecosystem and promoting advanced technological solutions, we aim to contribute to Malaysia’s aspirations of becoming a hub for innovation”, he added.

Syed Zulhilmi Tuan Sharif, CEO of Pomen, said,” This partnership with VentureTECH marks a pivotal milestone for Pomen, validating our vision to revolutionise asset maintenance and workforce management through innovative technology. With VentureTEC H’s support, we are equipped to scale our solutions, expand our reach across various industries, and meet the growing demands of clients locally and regionally”.

” As we venture further into the ports and aviation sectors— industries that face similar challenges in asset reliability, operational efficiency, and workforce optimisation — we are committed to delivering cutting-edge solutions that drive efficiency, create value for our clients and stakeholders, and contribute to broader digital transformation initiatives”, he added.

This investment aligns with VentureTEC H’s broader strategy to bridge funding gaps and strengthen the Malaysian startup ecosystem. This strategy is further reinforced through its collaboration with Cradle Fund Sdn Bhd ( Cradle ) under the Fund Funnel Programme, which aims to establish a more structured funding pathway for startups. Pomen exemplifies this initiative’s goal of making strategic investments in high-potential companies, fostering catalytic growth in high-growth, high-value ( HGHV ) sectors, particularly in digitalisation and advanced technology solutions.

By partnering with Pomen, VentureTECH strengthens its mandate to drive HGHV sectors while advancing Malaysia’s digital transformation agenda. &nbsp,

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Trump: Tariffs on Indian drugs will be a bitter pill for Americans

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8 days ago
Archana Shukla and Nikhil Inamdar

BBC News, Mumbai

Getty Images The image shows Proxyvon tablets arranged for a photograph in Mumbai, India, against a pink background. Getty Images

With Donald Trump’s tit-for-tat tariffs on India looming next fortnight, millions of Americans may have to prepare for sharper medical expenses.

Last week, Indian Commerce Minister Piyush Goyal made an unscheduled trip to the US for discussions with officials, hoping to strike a trade deal.

It followed Trump’s statement that he would impose taxes- which are federal taxes on international imports- on India by 2 April, in reprisal to India’s tariffs on British goods.

Goyal wants to stave off tax raises on India’s important trade sectors like pharmaceutical medications.

Almost half of all sold drugs taken in the US come from India only. Common drugs- which are cheaper types of brand-name medicines- imported from countries like India make up nine out of 10 treatments in the US.

This saves Washington billions in healthcare costs. In 2022 alone, the savings from Indian generics amounted to a staggering $219bn (£169bn), according to a study by consulting firm IQVIA.

Without a business deal, Trump’s levies may make some Indian generics unviable, forcing companies to leave part of the market and exacerbating existing pharmaceutical shortages, experts say.

Tariffs was “worsen the demand-supply imbalances” and the unemployed and weak will become left counting the costs, says Dr Melissa Barber, a medicine costing pro from Yale University.

The effects could be felt across people suffering from a range of health conditions.

Over 60 % of prescriptions for hypertension and mental health ailments in the US were filled with Indian-made drugs, according to the IQVIA study funded by the Indian Pharmaceutical Alliance ( IPA ).

Sertraline, the most prescribed antidepressant in the US, is a prominent example of how dependent Americans are on Indian supplies for essential drugs.

Many of them cost half as much as for those from non-Indian companies.

” We are worried about this”, says Peter Maybarduk, a lawyer at Public Citizens, a consumer advocacy group fighting for access to medicines. One in four American patients already fail to take medicines due to their costs, he adds.

Trump is already reportedly facing pressure from US hospitals and generic drugmakers because of his tariffs on Chinese imports.

The raw materials for 87 % of the drugs sold in the US are located outside the country and primarily concentrated in China which fulfils around 40 % of global supply.

With tariffs on Chinese imports rising 20 % since Trump took office, the cost of raw materials for drugs have already gone up.

Getty Images The image shows employees working inside a laboratory at a Laurus Labs Ltd. pharmaceutical plant in Visakhapatnam, Andhra Pradesh, India, wearing white jackets and masks.Getty Images

Trump wants companies to shift manufacturing to the US to avoid his tariffs.

Big pharma giants like Pfizer and Eli Lily, that sell brand name and patented drugs, have said they are committing to move some manufacturing there.

But the economics for low-value drugs do not add up.

Dilip Shanghvi, chairman of India’s largest drugmaker Sun Pharma, told an industry gathering last week that his company sells pills for between$ 1 and$ 5 per bottle in the US and tariffs “do not justify relocating our manufacturing to the US”.

” Manufacturing in India is at least three to four times cheaper than in the US”, says Sudarshan Jain of the IPA.

Any quick relocation will be next to impossible. Building a new manufacturing facility can cost up to$ 2bn and take five to 10 years before it is operational, according to lobby group PhRMA.

Getty Images The image shows Piyush Goyal, India's trade minister speaking at an event in New Delhi, India in 2019. Getty Images

For local pharma players in India, the tariff blow could be brutal too.

The pharmaceutical sector is India’s largest industrial export according to GTRI, a trade research agency.

India exports some$ 12.7bn worth of drugs to the US annually, paying virtually no tax. US drugs coming into India, however, pay 10.91 % in duties.

This leaves a” trade differential” of 10.9 %. Any reciprocal tariffs by the US would increase the costs for both generic medicines and specialty drugs, according to GTRI.

It flags up pharmaceuticals as one of the sectors that is most vulnerable to price increases in the US market.

Indian firms which largely sell generic drugs already work on thin margins and won’t be able to afford a steep tax outgo.

They sell at much lower prices compared to competing peers, and have steadily gained dominance across cardiovascular, mental health, dermatology and women’s health drugs in the world’s largest pharma market.

” We can offset single-digit tariff hikes with cost cuts, but anything higher will have to be passed down to consumers”, the finance head of a top Indian drugmaker who didn’t want to be identified, told the BBC.

North America is their biggest revenue source, contributing a third of the earnings and profitability of most companies.

” It is the fastest growing market and most crucial. Even if we increase exposure to other markets, it will not adjust for any loss in the US market”, the finance head said.

Umang Vohra, CEO of India’s third-largest drug firm Cipla, said at a public gathering recently that tariffs should not ultimately dictate what businesses do, “because there is a risk that four years later, those tariffs may go away”.

But four years is a long time, and could make or break the fortunes of several companies.

Getty Images U.S. President Donald Trump is pictured signing executive orders in the Oval Office of the White House on March 06, 2025. Getty Images

To avoid any of this,” India should just drop its tariffs on pharma goods”, Ajay Bagga, a veteran market expert told the BBC. ” US drug exports into India are barely half a billion dollars, so the impact will be negligible”.

The IPA, which consists of India’s largest drug makers, has also recommended zero duty on US drug exports so that India isn’t negatively impacted by reciprocal levies.

Indian Prime Minister Narendra Modi’s government recently added 36 life-saving drugs to the list of medicines fully exempted from a basic customs duty in the budget, and President Trump dropped a hint last week that India could be yielding to his pressure.

India has agreed to cut tariffs “way down”, he said, because” somebody is finally exposing them for what they have done”.

Delhi has not responded yet, but pharma players in both countries are nervously waiting to see the specifics of a trade deal that could have a bearing on lives and livelihoods.

” In the short term, there may be some pain through new tariffs, but I think they’ll make significant progress by the fall of this year for a first tranche]trade ] agreement”, Mark Linscott, former assistant US trade representative, told the BBC, adding that neither country could afford a breakdown in pharma supply chains.

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US tech firms feel pinch from China tariffs

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15 days before
Daniel Thomas

Business writer, BBC News

Getty Images Customers hold Apple iPhone 16 and 16 Pro in a shopGetty Images

Deena Ghazarian had only been in business for a year when the trade policies of President Donald Trump’s initial term of office sent her business into a spiral.

It was 2019 and her California-based company, Austere, had only agreed to supply some large US retailers with its high-end audio and video accessories that are mostly manufactured in China.

Therefore Trump imposed broad tariffs on China, and immediately Deena found herself paying a 25 % tax on every cable and part she imported – up from zero recently.

She was forced to capture the expenses and for a while thought she did go bust.

” I absolutely thought I am going to start and end a business in less than a time”, she says. ” I had spent all this time, money and effort, and to have something like this fluster you was shocking”.

The company pulled over, but like many different US businesses it presently finds itself in a remarkably similar scenario.

Since returning to office in January, Mr Trump has raised tariffs on all goods imported from China by 20 %, and put taxes of 25 % on Canadian and Mexican products, only to delay some of them until April.

Deena Ghazarian A picture of Deena Ghazarian, boss of US electronics business AustereDeena Ghazarian

The senator says he wants to push these states to do more to prevent flows of illegal drugs and migrants into America, to bring more manufacturing up to the US, and to address what he sees as unjust trade imbalances.

But the jobs are much broader in scope than next day, when they were phased in gradually and many items were granted deductions.

Products like smartphones, desktop computers and devices are then paying taxes for the first time, while levies on some have climbed higher.

” US importers have to pay these taxes not the exporters”, says Ed Brzytwa, vice president of international trade at the Consumer Technology Association ( CTA ), a North American trade body that represents more than 1, 200 tech firms.

” It’s American businesses and consumers who will suffer”.

Businesses like Ms Ghazarian’s are particularly exposed. China is still the number one supplier of electronic products to the US, with imports totalling $146bn (£112bn) in 2023, according to official data.

Meanwhile, 87% of US video game console imports came from China that year, 78% of smartphones, 79% of laptops and tablets, and two-thirds of monitors, says the CTA.

While many American companies like Austere have diversified their supply chains away from China since Mr Trump’s first term, countries such as Thailand, Taiwan and Vietnam still do not offer the same manufacturing capabilities and expertise.

At the same time, the US president is now targeting Mexico- another major electronics supplier. And while domestic manufacturing in the US has increased, partly due to tariffs, it is still limited by higher costs and stricter regulations.

” Yes, Apple now makes some iPhones in India and]the Taiwanese chipmaker ] TSMC has been diversifying to Arizona”, says Mary Lovely, a senior fellow at the Peterson Institute in Washington DC.

” But China is still a massive part of the supply chain. Relationships with new suppliers take time to develop, they are costly to develop”.

Research suggests that companies pass on a large proportion of the costs of tariffs by putting up prices. Earlier this month Corie Barry, boss of US electronics retailer Best Buy, said that the” the vast majority” of the new tariffs will “probably be passed on to the consumer” because vendors in the industry have such small margins.

In February, Taiwanese firm Acer said the price of its laptops would likely rise by 10 % based on the 10 % duties in place on China at the time, while US group HP has warned its profits would be lower because of the tariffs.

Getty Images Laptops being assembled at a factory in China's Sichuan provinceGetty Images

Ms Ghazarian says she may have to raise her prices this year, but worries it could backfire. ” There is a price point where the customer is satisfied with the value of goods provided.

” The moment I shift above that I start to lose customers. High inflation has squeezed Americans.”

During Mr Trump’s first term, companies such as Apple successfully secured exemptions for products, and we may yet see carve-outs.

Insiders have also suggested Mr Trump views tariffs as a negotiating tactic and could ease them if he wins concessions, as he did when China agreed to buy more American goods in a deal reached in 2020.

Fears of a US economic slowdown could also make him change course.

For the time being, though, tensions look likely to escalate. China, Mexico and Canada have vowed to retaliate against any US duties imposed on them, and this week Mr Trump threatened to double tariffs on Canadian steel and aluminium only to row back at the last minute.

He plans to impose” reciprocal tariffs “on the rest of the world soon, and threatened tariff increases of up to 60 % on Chinese goods while on the campaign trail.

There is a risk this could drive up the price of tech goods around the world if China is forced to relocate manufacturing to countries where labour costs are higher. Moreover, countries may hit back with tariffs on imported US technology.

Ms Ghazarian says she is worried but at least she’s prepared this time. Like many other US business-owners she bulk-ordered extra inventory before Mr Trump took office, and is storing it in her east coast warehouse.

She hopes that will get the company through the next year until it can” pivot “again.

” That might mean finding a more cost-effective way to produce the product or doing something completely different. It’s frustrating I have to focus on survival rather than growing my business.”

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Ministry to assist inquiry

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In: South-East Asia
Phiphat: Wants a transparent probe
Phiphat: Wants a clear probe

The Ministry of Labour has said it is ready to cooperate with an inquiry panel set up to investigate allegations the Social Security Office ( SSO ) spent an excessive 7 billion baht to purchase the SKYY9 Centre on Rama IX Road when its claimed appraisal price was 3 billion baht.

Labour Minister Phiphat Ratchakitprakarn said on Wednesday he is ready to cooperate to maintain clarity in the research.

” The order of SKYY9 is ready to get scrutinised. The SSO conducted a research on the order and commissioned independent businesses to calculate the cost and consider whether the order is for investing in”, Mr Phiphat said.

The secretary added that a deputy permanent director for the Labour Ministry, the SSO’s present secretary-general, and the SSO’s assistant secretary-general was appointed to the seven-member investigation section.

On Tuesday, Prime Minister Paetongtarn Shinawatra said she instructed Interior Minister Anutin Charnvirakul to shape an investigation panel to investigate the SSO’s order of the SKYY9 Centre.

Mr Anutin explained that while the SSO is under the Labour Ministry, he even serves as a deputy prime minister who oversees the Labour Ministry.

He said Mr Phiphat has even asked him to investigate the issue.

He added the alleged excessive saving occurred when the latest permanent secretary for employment formerly served as the secretary-general of the SSO.

Mr Anutin even said that when the permanent secretary for employment is being investigated, the standard who leads the exploration may carry the same level to ensure a smooth sensor.

The latest permanent secretary for workers, Boonsong Thapchaiyut, who served as the SSO’s secretary-general at the time of the order, on Wednesday refused to comment on the topic.

When asked if the order aligned with the laws, he merely nodded in recognition.

Deputy Commerce Minister Suchart Chomklin on Wednesday dismissed claims by Rukchanok Srinork, a People’s Party MP for Bangkok, that he was involved in the SSO paying unnecessarily to obtain the SKYY9 Centre.

In a message on Facebook on Wednesday, Mr Suchart said that her condemnation amounted to libel. ” Don’t distort the truth by using dirty politicians”, wrote Mr Suchart, who formerly served as a labour minister at the time of the order between 2022-2023.

On Monday, Ms Rukchanok raised concerns about the SSO’s order of the SKYY9 Centre on Rama IX Road, saying the tower was for an estimated 3 billion ringgit, but the SSO bought it for more than twice that amount.

Another Women’s Party MP, Sahassawat Kumkong, said this tower was purchased through a confidence, and about 70 % of the trust was spent on its order.

He said the workers minister at the time was also found to have transferred a close aide to a council directly in charge of expenditure, including purchasing the tower.

Ms Rukchanok claimed on Wednesday that the SSO bought the firm that owned the tower. She said the company was found to have a bill of more than 2 billion ringgit.

The SSO’s current secretary-general, Marasri Jairangsee, on Tuesday said the SSO invested in buying the building via the Private Equity Trust, an investment vehicle under the Trust for Transactions in the Capital Market Act, regulated by the Securities and Exchange Commission ( SEC ). She said two separate algorithms certified by the SEC estimated the price of the tower.

She said the value was estimated at 7.3 billion baht based on the money approach solution, but if the price approach is used, the building’s value is estimated at 8 billion baht. However, she said the SSO invested just 6.9 billion baht to purchase the building.

The SKYY9 Centre on Rama IX Road was one of many houses left empty and abandoned following the 1997″ Tom Yam Kung” financial problems.

Due to the property company’s non-performing product, possession of the tower changed hands many times before it was acquired by Bangkok Commercial Asset Management Plc.

The firm later resold it to a group of companies operating department shops for around 1 billion ringgit. The tower was eventually renovated and renamed I. C. E. Tower.

In 2020, it was sold to Cas Capital ( Thailand ), renovated again, and rebranded as Cas Centre.

After the repairs, its predicted price rose to about 2.2 billion ringgit, while the property on which it stands was valued at 1.5 billion ringgit at the time.

The tower was sold once more in 2022 to a group of private firms. The SSO after set up a personal capital faith to spend about 9.4 billion baht in secret companies that are not listed on the stock market.

Of the 9.4 billion baht, about 3 billion baht was allocated for overseas investment, while the remaining 6.9 billion baht was used to purchase the building.

It was later found that a company named AGRE 101 had sold the building to the SSO’s private equity trust. Currently, about 45 % of SKYY9’s space has been rented out. Of this, 25 % is already occupied by tenants, while the remaining 20 % is expected to be occupied within the year.

According to the DDproperty website, the rental fee at SKYY9 was 600 baht per square metre as of March 10.

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Ministry of Labour to assist Social Security Office inquiry

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In: South-East Asia

The Ministry of Labour has said it is ready to cooperate with an inquiry panel set up to investigate allegations the Social Security Office ( SSO ) spent an excessive 7 billion baht to purchase the SKYY9 Centre on Rama IX Road when its claimed appraisal price was 3 billion baht.

Labour Minister Phiphat Ratchakitprakarn said on Wednesday he is ready to cooperate to maintain clarity in the research.

” The order of SKYY9 is ready to get scrutinised. The SSO conducted a research on the order and commissioned independent businesses to calculate the amount and consider whether the order is for investing in”, Mr Phiphat said.

Phiphat: Wants a visible sensor

Phiphat: Wants a visible sensor

The secretary added that a deputy permanent director for the Labour Ministry, the SSO’s present secretary-general, and the SSO’s assistant secretary-general was appointed to the seven-member investigation section.

On Tuesday, Prime Minister Paetongtarn Shinawatra said she instructed Interior Minister Anutin Charnvirakul to type an investigation panel to investigate the SSO’s order of the SKYY9 Centre.

Mr Anutin explained that while the SSO is under the Labour Ministry, he even serves as a deputy prime minister who oversees the Labour Ministry.

He said Mr Phiphat has even asked him to investigate the issue.

He added the alleged excessive saving occurred when the present permanent secretary for employment formerly served as the secretary-general of the SSO.

Mr Anutin even said that when the permanent secretary for employment is being investigated, the standard who leads the exploration may carry the same level to ensure a smooth sensor.

The latest permanent secretary for workers, Boonsong Thapchaiyut, who served as the SSO’s secretary-general at the time of the order, on Wednesday refused to comment on the topic.

When asked if the order aligned with the laws, he merely nodded in recognition.

Deputy Commerce Minister Suchart Chomklin on Wednesday dismissed claims by Rukchanok Srinork, a People’s Party MP for Bangkok, that he was involved in the SSO paying unnecessarily to obtain the SKYY9 Centre.

In a message on Facebook on Wednesday, Mr Suchart said that her condemnation amounted to libel. ” Don’t distort the truth by using dirty politicians”, wrote Mr Suchart, who formerly served as a labour minister at the time of the order between 2022-2023.

On Monday, Ms Rukchanok raised concerns about the SSO’s order of the SKYY9 Centre on Rama IX Road, saying the tower was for an estimated 3 billion ringgit, but the SSO bought it for more than twice that amount.

Another Women’s Party MP, Sahassawat Kumkong, said this tower was purchased through a confidence, and about 70 % of the trust was spent on its order.

He said the workers minister at the time was also found to have transferred a close aide to a council directly in charge of expenditure, including purchasing the tower.

Ms Rukchanok claimed on Wednesday that the SSO bought the business that owned the tower. She said the company was found to have a bill of more than 2 billion ringgit.

The SSO’s current secretary-general, Marasri Jairangsee, on Tuesday said the SSO invested in buying the building via the Private Equity Trust, an investment vehicle under the Trust for Transactions in the Capital Market Act, regulated by the Securities and Exchange Commission ( SEC ). She said two separate algorithms certified by the SEC estimated the price of the tower.

She said the value was estimated at 7.3 billion baht based on the money approach solution, but if the price approach is used, the building’s value is estimated at 8 billion baht. However, she said the SSO invested just 6.9 billion baht to purchase the building.

The SKYY9 Centre on Rama IX Road was one of many houses left untouched and abandoned following the 1997″ Tom Yam Kung” financial problems.

Due to the property company’s non-performing product, possession of the tower changed hands many times before it was acquired by Bangkok Commercial Asset Management Plc.

The organization later resold it to a group of companies operating department shops for around 1 billion ringgit. The tower was immediately renovated and renamed I. C. E. Tower.

In 2020, it was sold to Cas Capital ( Thailand ), renovated again, and rebranded as Cas Centre.

After the repairs, its predicted price rose to about 2.2 billion ringgit, while the property on which it stands was valued at 1.5 billion ringgit at the time.

The tower was sold once more in 2022 to a group of private firms. The SSO after set up a personal capital trust to spend about 9.4 billion ringgit in secret companies that are not listed on the stock market.

Of the 9.4 billion baht, about 3 billion baht was allocated for overseas investment, while the remaining 6.9 billion baht was used to purchase the building.

It was later found that a company named AGRE 101 had sold the building to the SSO’s private equity trust. Currently, about 45 % of SKYY9’s space has been rented out. Of this, 25 % is already occupied by tenants, while the remaining 20 % is expected to be occupied within the year.

According to the DDproperty website, the rental fee at SKYY9 was 600 baht per square metre as of March 10.

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A pioneer in the credit card industry

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In: South-East Asia

Pittaya Vorapanyaskul is the first woman to lead KTC

With an exceptional management approach that emphasises the development of human resources alongside technology to drive business growth in the digital era, Pittaya Vorapanyaskul, president and chief executive of Krungthai Card Plc (KTC ), is among the Women of the Year 2025.

She has held the top professional status for about one month.

KTC, one of Thailand’s leading consumer finance firms under Krungthai Bank, appointed Ms Pittaya key administrative on Jan 1, 2024, succeeding Rathian Srimongkol. She has been with the business since 1997.

At 63, Ms Pittaya became the first woman to lead KTC, having accumulated an outstanding 26 years of experience within the company. She even brings nearly three decades of experience in the credit card market.

Throughout her job at KTC, Ms Pittaya has been instrumental in shaping the company’s marketing techniques. Most recently, she served as chief marketing and communications agent, overseeing credit card company functions, online advertising, online consolidation and public relations.

In addition to her position at KTC, Ms Pittaya has served as a producer and part of the audit council at Krungthai Asset Management Plc, a leading bank supervision business offering mutual funds, investment strategies and economic advisory services.

Mr Pittaya holds a bachelor’s degree in traveling business management from the University of Hawaii in the US.

She has even earned foreign qualifications, including Orchestrating Winning Performance from the International Institute for Management Development in Switzerland and Associate Certified Coach from the International Coaching Federation in the US.

After graduating in the tourism industry, she began her career in the hotel market before transitioning to the payment cards company, where she worked for eight years. Mr Pittaya immediately joined American Express, after moving to another card company before joining KTC in 1997.

When Krungthai Bank spun off its credit card company and established KTC, Ms Pittaya was part of the company’s earlier days, due to its list on the Stock Exchange of Thailand. At the time, KTC’s payment card collection was comparatively small, with only about 70, 000 cards in circulation.

By the end of 2024, KTC’s total credit card base had grown to 2.78 million, representing a 10.7 % market share.

The company’s entire product profile reached 111 billion ringgit last month, driven by its three major consumer loan products: credit cards, personal loans and car title loans.

” The CEO position wasn’t originally in my plans, and it is a challenging role. With my extensive experience here, I have full confidence in the team to drive the company towards sustainable growth”, she said, adding that KTC has focused primarily on developing human capital and information technology to support business expansion.

” For financial institutions, offering secure, high-quality products and services is essential for gaining member trust and confidence, as well as fostering long-term business growth”.

Pittaya VorapanyasakulPresident &amp, CEO of Krungthai Card Plc

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Four Chinese firms look to shake up tech world in DeepSeek’s wake – Asia Times

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In: Asia, Technology

The success of the Chinese AI company DeepSeek shocked economic markets and significant US tech firms in January 2025. But it shouldn’t have come as for a surprise.

For years now, lots of companies in China have been developing economical benefits that enable them to create amazing progress. This involves a strategy different from that of many big Western firms that rely on things like branding ( like Apple ) and exclusive technology ( like Nvidia ) to succeed.

Rather, these less-well-known Chinese firms have focused on delivering more creativity faster and cheaper. And our study suggests that they have been able to achieve this by being little more versatile in how they do business.

But DeepSeek may not be only as a gamechanger. Here are four more Chinese companies looking to undermine the global market in similar way.

1. DJI Innovations

DJI Innovations makes low-cost robots that produce underwater photos and video. Founded in 2006 by Frank Wang ( who became Asia’s youngest it billionaire at the age of 36), the business develops camera systems and applications as well as executive aircraft techniques used in business including crops and military. Its engineering has been used in the shooting of shows like Better Call Saul and Game of Thrones.

DJI’s cutting-edge research and development involves very sophisticated automatic assembly lines that make more for less value. This has led to rapid global growth and international collaborations, making the business a strong person that is difficult to contend against.

2. Unitree Robotics

A DJI Innovations spin-off founded in 2016, Unitree Robotics specializes in high-performance legged and human computers as well as elements such as mechanical hands. These items incorporate synthetic intelligence and have many uses in consumer and professional markets.

But in a field where progress may be slower than we might hope, Unitree’s swift development cycles – from first idea, through development and testing, to commercialization – give it an edge over rivals. This cycle speed is achieved through highly digitized processes, and large highly skilled development teams, which place it ahead of many rivals.

For example, in 2024 one of the firm’s humanoid robots ( already capable of soldering and cooking ) set a new walking speed record of 3.3 meters per second. And in early 2025 the company’s robots performed a traditional Yangko dance alongside humans.

YouTube video

]embedded content]

3. Game Science

Game Science is a Chinese video games firm founded in 2014. Its August 2024 release of Black Myth: Wukong, an advanced role-playing video game inspired by the classic Chinese novel Journey to the West, is one of the fastest-selling games of all time, with revenues of over US$ 1.1 billion and over 25 million copies sold to date.

This success demonstrates the firm’s ability to create products that incorporate Chinese cultural elements that also appeal to global tastes. This is partly down to the company’s prolific data analysis capabilities, allowing it to incorporate vast quantities of feedback from players into its design decisions.

That input gives it a big advantage over competitors, moving beyond the old Chinese export model of making cheap versions of western products. Instead, it offers innovative products that are also cheaper, contributing to China’s growing presence in the global gaming market.

4. Yonyou

Yonyou was set up in 1988 to offer business and accounting software to Chinese companies. It now dominates the market in the country and has spread to Taiwan, Singapore, Malaysia, Thailand and Indonesia. Beyond Asia is the next goal.

The firm’s success hinges on its ability to optimize its products for local customers while avoiding premium pricing. It understands that business systems vary geographically according to things like local culture, customs and consumer taste.

Yonyou’s proposition is simple but very effective: to develop software that varies to serve idiosyncratic local needs, knowing that this will work better than the one-size-fits-all products available from global competitors.

This has led it to create popular and specific software for industries including retail, education, finance and construction. The company’s expertise lies in challenging the conventional wisdom that customized products come at a high cost.

Each of these four Chinese firms clearly understands the advantages to be gained from innovative technology and good strategy, which are both within their control. What they cannot control are the geopolitical factors to do with international trade and the global economy – which makes the future uncertain.

But continuing to work to their particular strengths will make it likely that they – and plenty of others like them – go on disrupting global markets.

Naresh R. Pandit is a professor of international business at the University of East Anglia, Feng Wan is an associate professor of management at Zhejiang University, and Peter Williamson is an honorary professor of international management at Cambridge Judge Business School.

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

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CDL’s Kwek Leng Beng drops legal action against son Sherman 2 weeks after filing suit, says board members united for ‘greater good’

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SINGAPORE: City Developments Limited ( CDL ) executive chairman Kwek Leng Beng on Wednesday ( Mar 12 ) night dropped the lawsuit against his son and group CEO Sherman over&nbsp, alleged&nbsp, governance lapses and what he had described as an attempted power grab at the board level.

Court documents were filed on Feb 25 to handle what he described as an attempted” revolution” by the younger Kwek and to restore business morality.

In a speech, the elder Kwek said:” I have decided that the legal activity that was launched in regard to the table resolutions taken since Feb 7, 2025 may be discontinued.

” I will remain in my position as executive chairman, and Sherman Kwek will remain as party Chief Executive Officer. All the latest executives, including Jennifer Duong Young and Su Yen Wong, will be on the CDL table.”

In a regulatory filing on Wednesday, CDL confirmed that the” jury proceedings have been settled and will be discontinued”.

” The committee will continue to focus on strengthening the bank’s business and may continue to act in accordance with good corporate governance and strive to maximise investor price.”

The top Kwek added that all the committee members had agreed to” set aside their differences” for the” greater great” of CDL and its partners.

” We will all continue to focus on strengthening CDL’s business, in accordance with good corporate governance, now and in the future, including completing the raft of landmark developments underway across Singapore and globally, furthering the expansion of various brands under ( group subsidiary ) Millennium &amp, Copthorne, continuing our capital recycling initiative and above all, maximising shareholder value, “he said.

Ms Duong and&nbsp, Ms Wong were appointed as separate non-executive managers on Feb 7, with the elder Kwek then indicating their visits were a pre-planned efforts by his brother and another directors to consolidate power.

BOARDROOM BATTLE&nbsp,

CDL, which is controlled by the Kwek home, is one of Singapore’s largest home businesses.

The home conflict erupted on Feb 25 when Mr Kwek Leng Beng moved to reject his brother, Sherman, as party CEO, filing a lawsuit. &nbsp,

He pointed out the financial losses suffered by the organization under his father’s administration, including what he described as” bad investment decisions “in the UK property market that resulted in significant economic losses as well as a S$ 1.9 billion loss from CDL’s investment in Taiwanese developer Sincere Property in 2020. &nbsp,

Mr Sherman Kwek, who has been group CEO since 2018, later issued a statement, calling his father’s actions” extreme” and said his legal action was not authorised by the majority of the board.

He singled out his father’s former personal assistant, Dr Catherine Wu, as the source of the dispute within CDL. According to him, Dr Wu had been” interfering in matters going well beyond her scope”, and” wields and exercises enormous influence”.

He reiterated that there had been” no attempt by us to oust the chairman”.

On Mar 4, Mr Kwek Leng Beng said that Dr Wu had resigned from her position as an unpaid independent adviser to the board of Millennium &amp, Copthorne Hotels, a CDL subsidiary.

In his statement then, he said that his son had” sought to justify his board coup and overt breaches of corporate governance with unproven insinuations about Dr Wu”.

” Now that Dr Wu has resigned, the CEO and his team of directors no longer have any continuing basis to make such corporate governance allegations about CDL and to justify his board coup, “he added.

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Jail for director who conspired to cheat former SPRING Singapore of S,000

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SINGAPORE: A man who deceived the former SPRING Singapore into disbursing S$ 85, 000 ( S$ 63, 700 ) through its Innovation and Capability Voucher ( ICV ) scheme was sentenced to 22 months ‘ jail on Wednesday ( Mar 12 ).

Donovan Goh Shen Shu, 36, pleaded guilty to five counts of lying and five of falsifying records for crimes between 2015 and 2016. &nbsp, Another 20 similar claims were taken into consideration for his punishment. &nbsp,

Goh, a Singaporean, was the chairman and stockholder of five businesses- IT Works Solutions, IT Works HR Systems, IT Works Accounting Systems, IT Works ERP Systems and IT Works Inventory Systems- absorbed in 2014 to offer numerous IT solutions. &nbsp,

Goh and another producer Dexter Ng Wing Hong made use of the ICV system to acquire funds from SPRING Singapore.

The ICV scheme involved S$ 5, 000 vouchers meant to encourage little- and medium-sized companies to develop their skills in many areas, including in integrated options. &nbsp,

An applicant may submit an application on the ICV online method to get approval from SPRING to buy a remedy. &nbsp,

Upon approval, the person did get a answer and register a claim, including invoices and proof of payment, which was assessed by the ICV control group. &nbsp,

The student was reimbursed when the state was approved. &nbsp,

In 2018, SPRING Singapore was merged with International Enterprise Singapore to shape Business Singapore.

ACCUSED OFFERED CASHBACK

Goh, Ng and a group of salespersons saw the ICV program as a way to make sales and to attract potential customers to purchase options from their businesses. &nbsp,

The two directors instructed several salespersons to recruit individuals to buy solutions from their companies in return for cashback. &nbsp,

This meant that the solution’s cost was inflated so that the applicant could retain a portion of the disbursed funds as cashback before the remaining portion went to Goh’s companies. &nbsp,

Goh and Ng knew that the costs of the solutions on the claims were false as they were inflated. ” They intended to deceive SPRING into believing that the applicants had paid at least S$ 5, 000 for each of the solutions”, said the prosecution. &nbsp,

The accused persons also used falsified receipts to indicate that the applicants had paid for the solutions even though no such payments were made in some cases. &nbsp,

In one arrangement, a salesperson recruited the owner of a moving company to submit an ICV claim to SPRING for S$ 5, 000. The owner was told that he would be paid if he did so. &nbsp,

Around Jun 4, 2015, the owner made a claim of S$ 5, 000 for a purported purchase of a scheduling system. In fact, the sum was inflated so that the owner could claim a cashback of S$ 1, 500. &nbsp,

The remaining sum of S$ 3, 500 went to Goh’s companies.

Goh also abetted the creation of a false entry in an electronic record, in which a receipt was prepared to state that his company had received payment of S$ 5, 000 from the moving company, when no such payment was made. &nbsp,

A SPRING employee lodged a complaint with the police in December 2016. &nbsp,

The prosecution said that substantial harm was caused to SPRING, and that the offences had been planned and premeditated. &nbsp, It sought 20 to 24 months ‘ jail for Goh. &nbsp,

Court documents did not state whether Ng has been dealt with. &nbsp,

For cheating, Goh could have been jailed up to 10 years, and fined. &nbsp,

For falsifying a record, Goh could have been jailed up to 10 years, or fined, or both. &nbsp,

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Malaysia’s ex-navy chief gets discharge not amounting to acquittal on charges linked to littoral combat ship scandal

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KUALA LUMPUR: Malaysia’s former navy chief Ahmad Ramli Nor was on Wednesday ( Mar 12 ) granted a discharge not amounting to an acquittal for his alleged role in the littoral combat ship (LCS) scandal. &nbsp,

” After considering proposals from both parties and the Kuala Lumpur Hospital’s medical record on the accused’s health power, the court finds that he is inadequate for trial”, said Kuala Lumpur Sessions Court judge Suzana Hussin, as quoted by media outlet Free Malaysia Now.

The scandal refers to a RM9.14 billion ( US$ 2.06 billion ) contract to construct six ships awarded by the Ministry of Defence to Boustead Naval Shipyard Sdn Bhd through direct negotiation. The deal was apparently awarded in 2011 and took effect in October 2013.

The Indonesian government paid RM6.08 billion or two-thirds of the cost and five of the boats should have been handed over to the army by August 2022, but none has been delivered.

Ramli, 80, was captain of the Malaysian Royal Navy from 1996 to 1998 and is also the original handling director of Boustead Naval Shipyard. &nbsp,

He was charged with three counts of unlawful breach of trust in August 2022 and&nbsp, contested the fees.

He reportedly authorised payments totalling more than RM21.08 million to three Singapore-based businesses without the authorization of Boustead’s board of directors between 2010 and 2011. &nbsp,

On the first command, he reportedly approved a settlement of more than RM13.5 million to Singapore’s Setaria Holding Limited between Jul 26, 2010 and Mar 25, 2011. &nbsp,

On the following command, he reportedly approved a shift of about RM1.4 million to JSD Corporation Pte Ltd between Apr 19, 2011 and May 4, 2011. &nbsp,

He is accused of another related crime in a settlement involving almost RM6.2 million to&nbsp, Sousmarin Armada Ltd between Oct 28, 2010 and Nov 22, 2010.

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