BANGKOK: Southeast Asian cities were among five most polluted in the world on Friday ( Jan 24 ) according to air-monitoring organisation IQAir, with Ho Chi Minh City ranked second-most polluted, followed by Phnom Penh and Bangkok fourth and fifth, respectively. In the Thai capital, a heavy dust was seenContinue Reading
At 23rd place, along with three different East Asian cities in the top ten, Chiang Mai.
PUBLISHED: 24 Jan 2025 at 10: 37
According to the most recent data from Swiss-based IQAir, Bangkok was ranked as the fourth worst city in the world for air quality as dangerous cloud continues to engulf the country’s funds and other regions.
The air quality index in Bangkok reached 188 as of 9.40am.
The Bangkok Metropolitan Administration ( BMA ) declared 48 of its 50 districts as red ( hazardous-to-health ) zones, with particulate matter 2.5 micrometres and less in diameter ( PM2.5 ) levels averaging 88.4 microgrammes per cubic metre (µg/m³ ).
Nong Khaem was the most afflicted area, with PM2.5 rates at 108 as it recorded PM2.5 at 108µg/m³, followed by Khan Na Yao, Min Buri, Thawi Watthana and Lak Si.
City Hall reiterated to all people to avoid outside actions at this time because they could cause health risks and to work from home as much as possible.
Chiang Mai, in the northeastern province of Chiang Mai, even experienced pollution problems, ranking 23rd with an air quality index of 127g/m3.
The government-set secure level is 37.5µg/m³.
Just Ho Chi Minh City in Southeast Asia has worse pollutants than Bangkok. Another cities in the region that made the top 10 include Phnom Penh, ranked second, and Hanoi, ranked seventh.
NetApp®, the intelligent data infrastructure company, has appointed industry veteran Kenneth Poh ( pic ) as country manager for Singapore and the Philippines. Poh will be in charge of operations and go-to-market plans, with an emphasis on fostering business expansion and increasing companion and customer relationships in both markets.
As AI increasingly integrates into daily life, nearly half ( 49 % ) of technology executives in Singapore prioritise investment in data management and infrastructure, according to NetApp’s 2024 Data Complexity Report released in December.
But, long-term victory in AI requires organisations to tackle important challenges, including data difficulty, security, and conservation, with greater commitment and resources.
” I am delighted to welcome Poh to NetApp. His remarkable track record of guiding businesses and helping organizations harness the power of information makes him the ideal leader to unlock the full potential of our customers. With his command, I am confident we can scale our activities and reach our progress ambitions in Southeast Asia”, said Henry Kho, place vice president and general director for Greater China, ASEAN, and Korea, NetApp.
” It is a pleasure to meet NetApp, a consistent president in the data backup industry”, said Poh. With the introduction of Singapore’s National AI Strategy 2.0 and the Philippines ‘ National AI Roadmap, the location is at a new chapter in its development. Leveraging NetApp’s 30 years of technology and knowledge, I look forward to helping companies become more innovative and tenacious in today’s age of data and knowledge”.
Poh brings over 20 years of IT industry practice, specialising in store, AI, and great information. Prior to joining NetApp, he spent time at Dell Technologies as city director for the public and corporate segments, where he oversaw a strong sales team and encouraged business expansion. Poh has even held management roles at foreign IT companies, including Dell EMC, Oracle, HP, and Sun Microsystems.
LoopMe, a leading technology company using artificial intelligence ( AI ) to enhance brand advertising performance, has announced continued expansion of its APAC operations. The business achieved a fully organic gross revenue CAGR of 40 % between 2018 and 2024 and, together with Chartboost, has now generated more than US$ 2 billion ( RM8.9 billion ) in gross revenue.
Entering a new phase of development, LoopMe is opening a local business, recruiting ability to help its development plans, and pursuing acquisitions to strengthen its position for 2025, the organization said in a declaration.
To support its APAC ambitions, James Parker ( pic ) has been appointed as the new head of APAC. Based in Singapore, Parker, previously managing director of Southeast Asia at MiQ, will generate business progress across APAC, with a emphasis on Australia, Southeast Asia, and the Greater China Region.
With a new business in Melbourne, LoopMe has likewise expanded its footprint in Australia. HS Shin has been appointed top sales manager, taking the opportunity to expand its customer base in Victoria and beyond. Also, the Sydney business has been strengthened with the appointment of Alicia Placer as revenue manager, who will concentrate on fostering growth with separate agencies and company holding groups.
This funding follows LoopMe’s subsequent acquisition of Chartboost, a mobile marketing and crowdfunding system. The merger brings ashore a group of mobile apps experts and cutting-edge systems, further solidifying LoopMe’s existence in the mobile application and gambling markets. By tapping into cellular in-app as a vital growth area for model marketing, the deal opens up new online opportunities.
The acquisition complements LoopMe’s Audience and Measurement platform ( AMP), launched last year after several years of development. AMP enables advertisers to build customized viewers using survey data, range them using LoopMe’s AI capabilities, and use assessment tools to monitor progressive company growth and conversions for campaigns of any length. In APAC, AMP is anticipated to increase development, with an emphasis on strengthening product integrations with regional company partners.
” 2024 has been important for our company, marking a new book in our development”, said Stephen Upstone, CEO and founder of LoopMe. ” Building on seven years of consistent healthy growth, we’ve seized a powerful M&, A chance to expand our development. Our development plans are largely based on APAC, and we believe there is a lot of potential for expanding regional growth opportunities.
” With Parker taking over as head of APAC, we are assured that our business in this region will continue to grow successfully. We enthusiastically welcome Parker, Shin, and Placer to the LoopMe team”.
Private credit specialist Muzinich & Co. has appointed of Pam Hsieh as director – marketing & client relations.
Hsieh (pictured), based in Singapore, will focus on developing the firm’s relationships with financial intermediaries and wealth managers across Taiwan, Hong Kong and Singapore, according to a January 6 media release.
In her new role, Hsieh will report to Sashi Nambiar, head of financial intermediaries and wealth, Asia. She has over a decade of experience in asset management and wealth management, having held senior positions at Fidelity and BlackRock in Taiwan, most recently as vice president, wealth at BlackRock.
Nambiar said in the media release: “We welcome Pam to Muzinich at a time of growing interest in both public and private credit solutions among Asian investors. Her deep understanding of the wealth market and strong track record of building relationships with financial intermediaries will be invaluable as we continue to expand our presence in the region.”
Andrew Tan, chief executive officer, Asia Pacific (Apac), Muzinich & Co., added: “Pam’s appointment demonstrates our commitment to building a strong presence across both institutional and wealth management segments in Apac.”
Tan continued: “As Asian investors increasingly seek to diversify their portfolios through credit solutions, we are strategically expanding our team to better serve their evolving needs while maintaining our focus on delivering excellence in credit investing.”
The appointment follows a partnership with First Bank to bring its “parallel” lending strategy, MLoan, to the Taiwanese market.
And In September, Muzinich announced a partnership with Hong Kong’s Orion3 to launch an up to $1 billion infrastructure and real assets private debt strategy targeting several key markets in Apac.
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Pavida agrees that credit cards in particular have become an “easy trap” for younger individuals exposed to intense marketing campaigns from lenders.
Non-productive loans- those considered to enhance spending power but no output- exceed effective loans now in Thailand. They include bills for automobiles, personal funding and credit cards.
COVID-19 contributed to another rise in these types of debt amounts as home incomes ran clean over the extended pandemic time.
Mali, a then 42-year-old Bangkok-based entrepreneur who likewise declined to give her complete name, started a car loan during the time the authorities was offering its car buying system. She then has two of them, on top of a loan for an apartment, a circumstance she considers “normal” now in Thai culture.
“A bunch of Thais are in debt because their income is low when compared with the cost of living, ” she said.
Average income in Thailand were about 15,700 baht in the second quarter of 2024, according to the National Statistical Office of Thailand.
Mali admitted that bill had become a “big burden”, although she felt comfortable to handle it going ahead. For this century while, the debt narrative has evolved to be tougher to argue with compared to the past, she thinks.
Part of that can be explained by life- the purchase demands of modern life with the influence of social media- and the changing attitudes of younger years who never more live at home until they are married like in the past.
“It seems like the older technology were paying off their debts easier than us. It feels like a really long quest for us, ” Mali said.
Jack the instructor even flagged the challenges of living in rural areas, with fewer people resources.
“Living in the landscape, there is no public transportation that enters straight to your doorstep. That is why a bicycle is important. And the older generation can even survive without a phone or computer but our generation could, ” she said.
Jack’s position is what is playing out all over the country, Pavida said, and proof of the fundamental problems that exist beyond the visible signs of overspending.
Do not just responsible those in debt, she said, but instead research the “fundamental concerns with the Thai economy ” for both individuals and small business owners.
“It is a monetary condition. But if you ask yourself why people want to buy a car, one of the dilemmas is that they don’t have an option, ” she said.
“And I think the kind of dominant dominance of big company is one factor that has taken the air out for smaller businesses. ”
There could be pain away for the Thai market depending on the next moves by both the state and the Bank of Thailand.
Nonarit expects both to move slowly, forecasting the authorities to try and boost public debt to GDP towards the sky restrict of 70 per cent- above where it now sits at about 64 per cent- to keep the money flowing through the economy over the next five years.
“ But then we will have higher and higher debt. And this is the way they try to push the problem into the future, ” he said.
The alternative would be to let people “feel the crisis and learn the pain” of bad borrowing.
“That’s the hard way. But I don’t think the Bank of Thailand will choose to let this happen”.
Additional reporting by Grissarin Chungsiriwat.
DAVOS, Switzerland : There will always be border disputes in Asia, and China should not be singled out because of tensions in the South China Sea, Malaysian Prime Minister Anwar Ibrahim said on Wednesday ( Jan 22 ). Speaking at the World Economic Forum in Davos, Switzerland, Anwar said thatContinue Reading
EdgePoint Towers Sdn Bhd, piece of EdgePoint Infrastructure, a leading Asean-based separate telecommunications infrastructure firm, in partnership with the Sunway Group, has deployed Malaysia’s initially domestic 5G network in a business building. This future-ready in-building coverage solution ( IBC ) is an extension of Sunway’s telecommunications infrastructure upgrade to enhance connectivity in prime commercial areas in Sunway City, Kuala Lumpur, including Sunway Pyramid Mall & Protocol Centre and Sunway Medical Centre.
As part of the collaboration, EdgePoint deployed Active In-Building Solutions to complement the existing Passive Distributed Antenna System ( DAS ), improving 4G coverage and introducing high-speed 5G connectivity. The original test includes 5G-enabled wifi protection in high-traffic places such as food and beverage stores, restaurants, and cafés. Programs for the year include expanding 5G coverage throughout the store to give faster, smooth connectivity for guests and businesses..jpeg "EdgePoint, Sunway deploy Malaysia’s first indoor 5G network in a commercial building at Sunway Pyramid Mall")
Muniff Kamaruddin ( pic ), CEO of EdgePoint Towers, said, “EdgePoint has enjoyed a mutually beneficial relationship with the Sunway Group, and this collaboration to upgrade Sunway Group’s buildings with 5G-ready technology is a natural next step for us. We hope the success of this action will serve as an effective 5G alternative apply case for different large, multi-purpose commercial businesses major about enhancing communication, user experiences, and productivity levels. We look forward to continuing to pull 5G implementation throughout the Klang Valley. ”
Anandan Balakrishnan, CEO of Sunway Digital Wave Sdn Bhd, commented, “As one of Southeast Asia’s leading businesses, our goal is to build lasting settlements and populations by finding inventive ways to create stimulating, safe, and related conditions. Quick, trusted, and seamless communication is key to realising that perspective and enabling our plans to support organizations, clients, and residents within Sunway City. EdgePoint’s future-ready, customized in-building techniques and their operating preparation made them the perfect partner to accomplish our shared vision of creating a well-connected setting for people. ”
He added, “Our priority is to ensure that our customers enjoy all modern-day conveniences afforded by high-speed internet connectivity. Currently, users of Malaysia’s largest mobile network operator can experience seamless 5G connectivity, and by the year-end, all shoppers at Sunway Pyramid Mall will benefit from unlimited, ubiquitous 5G. Being the first commercial building to offer seamless indoor 5G connectivity is a proud milestone for this collaboration. ”
Muniff concluded, “We are glad to partner with industry leaders to deliver this national first. This collaboration reaffirms our commitment to supporting businesses and the nation in building one of the best-performing and most reliable 5G networks globally. From nationwide network coverage to deploying targeted 5G solutions tailored to one of Malaysia’s largest conglomerates, the Sunway Group, our efforts will continue. ”
EdgePoint Infrastructure is the fastest-growing multi-country tower company in Asean, with a portfolio of 15,600 sites, making it the second-largest tower company in Malaysia.
.jpg "Boost's senior leadership highlights key milestones and upcoming plans during the Boost Year in Review 2024 media event")
Boost, a leading provincial finance person, closed 2024 on a high word, achieving major milestones that cement its position as a transformational leader in the modern economic landscape. With a strong focus on innovation, convenience, and economic participation, the business has continued to evolve its choices, creating a seamless habitat that inspires individuals and small businesses everywhere.
Looking to the future, Boost highlights its passion to transition into a local online banking group, aiming to design the next frontier of online banking and financial services in Southeast Asia.
Riding the speed of a flourishing digital business
According to the e-Conomy SEA 2024 report, Southeast Asia’s digital financial services ( DFS ) sector is expected to generate US$ 33 billion ( RM146. 8 billion ) in income, driven by popular adoption of QR bills and online banking. Boost has capitalised on this growth, with Boost Bank securing over US$ 157 million ( RM700 million ) in deposits within six months of its launch and Boost PayFlex disbursing more than US$ 54 million ( RM240 million ) since its introduction.
[RM1 = US$ 0. 224]
These successes reflect Boost’s ability to deliver impressive financial options that resonate with consumers. Demonstrating its robust performance, the company recorded a Gross Transaction Value ( GTV ) exceeding RM5. 6 billion for the year.
Sheyantha Abeykoon, party CEO of Boost, said: “2024 was a landmark year for Boost, solidifying our position as a leading finance person with an expanded set of companies, including banks items. Our growth reflects the trust our users and partners have placed in us and the increasing demand for innovative digital financial solutions. ”
“With our expanding services, including lending, payment gateway offerings, deposits, and investment products via embedded finance, we are uniquely positioned to drive meaningful impact for small businesses and consumers. As Southeast Asia’s digital economy thrives, Boost remains committed to delivering accessible and transformative financial solutions,” he added.
Pioneering digital banking and embedded finance solutions
In June 2024, Boost Bank, Malaysia’s first homegrown digital bank, launched with the mission of revolutionising financial access for underserved and unbanked communities. With features like RM1 account openings, competitive daily interest rates, and Savings Jars, the bank has gained significant traction, empowering users to better manage their finances. Seamless onboarding has made Boost Bank a leader in embedded banking, with 80 % of its users coming through the Boost app.
Strategic partnerships with major players, including MYDIN, CKS Retail, Servay, Bataras, Farley, and CelcomDigi, have contributed to the bank’s success, with these collaborations accounting for 40 % of overall deposits since launch.
Fozia Amanulla, CEO of Boost Bank, remarked: “The launch of Boost Bank is a significant milestone, not just for us but for Malaysia. It’s about more than deposits; it ’s about creating a platform that empowers individuals and businesses to thrive. ”
She added: “Our strategic partnerships have been key to reaching underserved communities and empowering them to bank digitally. Through innovative digital banking solutions, we aim to unlock greater economic opportunities nationwide, ensuring no one is left behind. ”
Empowering businesses and consumers through lending and seamless transactions
Boost continues to drive financial inclusion across Southeast Asia, offering innovative solutions for businesses and consumers. Its lending portfolio has surpassed RM5 billion in loans disbursed to thousands of micro, small, and medium enterprises ( MSMEs ) in Malaysia and Indonesia, helping them bridge funding gaps and achieve sustainable growth.
Boost PayFlex, a Shariah-compliant Buy Now, Pay Later ( BNPL) product, has onboarded over 121,000 customers and disbursed more than RM240 million since its launch. As Southeast Asia’s BNPL market is forecast to reach US$ 53. 2 billion by 2027, Boost PayFlex is well-positioned to capitalise on this trend, advancing financial inclusion while promoting responsible financing.
Expanding regional presence: Indonesia and Cambodia
Boost is expanding its Southeast Asian footprint with tailored financial solutions for each market. In Indonesia, it has extended its strong support for MSMEs by venturing into consumer lending through strategic ecosystem partnerships. In Cambodia, Boost has partnered with Smart Axiata to introduce a consumer lending programme, leveraging Smart Axiata’s extensive network to address financial access gaps and empower underserved communities.
These regional expansions align with projections that digital lending in Southeast Asia will continue to grow significantly through 2025, further driving economic growth and financial inclusion.
Looking ahead: Boost’s vision for 2025
With Southeast Asia’s digital financial services sector projected to grow at a compound annual rate of 31 % through 2025, Boost is poised to lead the next wave of innovation by integrating embedded banking solutions and making financial services more accessible and impactful.
Boost Bank is set to build upon its existing offerings and roll out new, financially inclusive products to be at the forefront of financial empowerment. This product expansion roadmap will include consumer loans as well as other innovative products to financially empower MSMEs. The company will expand its partnership ecosystem and prioritise serving underserved and unbanked populations. On the lending front, Boost PayFlex will strengthen its position in the BNPL segment by promoting responsible lending and enabling financial freedom for consumers.
By delivering innovative digital solutions tailored to real-world challenges, Boost aims to unlock lasting economic opportunities and cement its leadership in Southeast Asia’s financial landscape.
iMotorbike, Southeast Asia’s leading motorcycle platform for buying and selling pre-owned motorcycles, has announced the completion of a US$ 10 million ( RM44. 6 million ) Series A funding large. The round was led by Headline, a worldwide venture capital firm renowned for backing revolutionary B2B and B2C projects, with contribution from other popular investors, including Ondine, 500 Global, Gobi Partners, Astor Management, and Endeavor Catalyst. The Series A revenue was completed in two tranches: the first in June 2023, and the most recent large led by Headline.
Akihiko Okamoto, companion at Headline Asia, said: “iMotorbike has demonstrated extraordinary vision and murder in addressing cracks in the pre-owned scooter business. Their emphasis on quality, accountability, and customer satisfaction has established them as the head in this growing industry. As they prepare to provide new lands and develop across Southeast Asia, we are excited to help their trip and see them continue to innovate. ”
This financing will help iMotorbike’s rise in Malaysia, where the business plans to open new examination centres and shops in important locations, including Penang and Johor. Also, the funding will allow workforce development, with plans to hire competent mechanics and operations staff. Beyond Malaysia, iMotorbike is also planning to establish a new unit in Taiwan.
“We initially invested in iMotorbike in 2017 and remain confident that the world used motorcycle market may be adaptable as riders seek economical and reliable solutions amid financial uncertainties. As early movers, Carmo and his team have spent the past eight years creating a blueprint for trust and comfort in the motorcycle industry, positioning them to lead this freedom pattern far beyond Southeast Asia, ” said Khailee Ng, managing companion at 500 Global.
Fast growth and expansion
iMotorbike’s growth in Malaysia has been accelerating, bolstered by the launch of its Glenmarie showroom in 2024, a three-storey, 46,806-square-foot facility in Selangor. Co-founded by Gil Carmo and Sharmeen Looi, iMotorbike reached a significant milestone in 2024, serving 10,000 customers and becoming the go-to platform for motorcycle enthusiasts across Southeast Asia. Its growing online presence, particularly on TikTok, where content has garnered up to 1. 6 million views, has further cemented its popularity among digital-savvy users. By seamlessly integrating online and offline experiences, iMotorbike ensures a smooth trading journey, offering a trusted platform for buying, selling, and trading motorcycles.
Randolph Hsu, co-founder of Ondine Capital, commented: “As the lead investor in iMotorbike’s previous funding round, we are proud to support them with a super pro-rata investment in this new round. We have witnessed their remarkable growth and unwavering commitment to transforming the motorcycle market in Asia. We are confident in their vision, leadership, and ability to deliver value to clients. We foresee iMotorbike further strengthening its presence locally and internationally, and Ondine Capital will continue supporting them by bridging resources across Asia. ”
Since its founding in 2016, iMotorbike has established a strong presence in Malaysia and Vietnam by prioritising customer trust and convenience. Features such as a comprehensive 170-point inspection, a six-day return policy, and a six-month warranty have solidified its reputation as a reliable, customer-focused platform.
Looking ahead
Commenting on the funding, Gil Carmo, co-founder and CEO of iMotorbike, said: “ From day one, our goal has been to create a platform that people can trust, whether buying or selling motorcycles. This funding validates the work we’ve done and the potential of pre-owned motorcycles in Southeast Asia. With this investment, we are excited to take iMotorbike to the next level. ”
He continued: “Beyond expanding our footprint in Malaysia and launching in Taiwan, we will continue improving our platform and scaling our operations to meet growing demand. We are deeply grateful for the trust our investors and customers have placed in us and remain committed to setting new standards within the industry, making pre-owned motorcycles more accessible and hassle-free for everyone. ”
Looking towards 2025, iMotorbike is steadfast in its mission to provide a trusted, seamless platform for motorcycle transactions. With new markets on the horizon and an expanded team, the company is poised to sustain its impressive growth and solidify its leadership across Southeast Asia and beyond.