Inovatif

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  • Funding Societies secures third credit facility with HSBC to extend access to MSMEs in Southeast Asia

    Funding Societies secures third credit facility with HSBC to extend access to MSMEs in Southeast Asia

    KUALA LUMPUR, 5 November 2024 – Funding Societies | Modalku (Funding Societies), the largest unified digital finance platform for micro, small and medium enterprises (MSMEs) in Southeast Asia today announced signing the third credit facility* with HSBC under its ASEAN Growth Fund. The overall transaction, an accumulative commitment of over US$100 million (RM436 million), also includes the two annual credit facilities extended to Funding Societies, reaffirms HSBC’s continued support for MSMEs through the platform since 2022. 

    This transaction, which is amongst HSBC’s largest asset-backed secured facilities extended to digital SME lenders in Southeast Asia, will further deepen and extend Funding Societies’ reach to providing credit access to underserved MSME segments in the region. 

    While the Asia-Pacific (APAC) region has grown its middle-class and gained tremendous traction in terms of increasing access to formal banking services and digitalising its commercial environment, the region still has a US$2.5 trillion (RM10.9 trillion) credit access gap, making up over half of the global shortfall in small business financing1. To put into perspective, up to 99.9% of enterprises are MSMEs contributing to 35% to 69% of each country’s gross domestic product (GDP). 

    Co-founder and Group CEO of Funding Societies, Kelvin Teo, said, “The continued support from a global bank such as HSBC is a testament to its commitment to support the development of digital platform businesses such as ours and MSMEs as we ride through a two-decade high interest rates impacting the global economy. This enables us to further explore scalable debt financing for growth and profitability, and bolster financial inclusion for the underbanked and underserved SMEs in the region.” 

    As part of its ASEAN Growth Fund strategy, this transaction underlines a scalable solution to allow and enable digital lenders like Funding Societies to raise additional equity capital and debt financing through different channels. Furthermore, HSBC will act as the structuring bank, lender, account bank, FX counterparty, facility and security agent in providing a scalable and pan-regional financing solution to support Funding Societies’ business expansion in the region. 

    Harish Venkatesan, Head of Corporates and Business Banking, HSBC Singapore, said, “As an early-starter and a leading MSME digital financing player in ASEAN, we are pleased to provide our third credit facility for Funding Societies, cumulatively in excess of US$100 million (RM436 million). This will enable us to continue supporting its efforts to provide financing support to micro, small and medium enterprises which will contribute to the building blocks of societies in the ASEAN region. We look forward to continuing support for Funding Societies as they grow their business and for the underlying MSMEs in the region through the HSBC ASEAN Growth Fund.” 

    The US$1 billion (RM4.4 billion) HSBC ASEAN Growth Fund was launched in March 2024 to enable Singapore-based digital platform businesses supporting e-commerce in the region to achieve economies of scale across multiple international markets, grow their asset portfolios, and advance along the corporate lifecycle. Together with the New Economy and Venture Debt Fund, HSBC Singapore offers a comprehensive suite of financing solutions for new economy businesses across different stages of growth3. 

    This announcement comes at the heels of Funding Societies’ most recent strategic investments from Maybank in September. 

    Since its inception in 2015, Funding Societies has disbursed over US$4 billion (RM17.4 billion) in business financing, positively impacting more than 100,000 businesses across Singapore, Indonesia, Malaysia, Thailand, and Vietnam, as well as processed an annualised US$1.4 billion (RM6.1 billion) payments GTV (gross transaction value) since its entry into payments in late 2022.

  • Join the Sustainable Action Conference 2024 and Be a Part of Real Change!

    Control Union Malaysia invites you to attend the Sustainable Action Conference (SAC 2024), hosted on 21st November 2024 at the Sunway Resort Hotel and is available online. This year’s conference is all about taking concrete steps toward a sustainable future—transforming pledges into impactful actions.

    SAC 2024 brings together leaders from a wide range of sectors, including government, finance, manufacturing, energy, and construction, to address pressing sustainability challenges, share innovative solutions, and form valuable collaborations. Join us for this unique opportunity to hear success stories, engage with new sustainability trends, and get involved in project funding polling sessions.

    As an attendee, you’ll gain access to:

    -Inspiring presentations from industry experts

    -Have a vote in funding sustainable project

    -Networking sessions with sustainability pioneers across industries

    -Live project pitches with audience voting to support impactful initiatives

    By participating, you’ll connect with like-minded professionals and contribute to the momentum driving sustainable change across industries. Whether you’re attending in person or joining virtually, your presence at SAC 2024 signifies your commitment to sustainability and the potential for meaningful impact. Don’t miss this chance to be part of a global movement toward sustainability! Secure your spot today and help shape a sustainable future.

    For more information or to register, contact us at bdcumalaysia@controlunion.com or visit our website: https://sustainableactionconference.com/

    Together, let’s transform commitments into actions!

  • An Unwanted Cure for People and the Planet

    By PF Khong  

    While society continues to grapple with changing attitudes, studies from across the globe have clearly shown that rubbish bins, toilets and sinks remain the most popular disposal methods for unwanted medications in homes, with little consideration given to the environmental impact of these “tiny bits” of pharmaceutical compounds. 

    A PRESSING ENVIRONMENTAL CONCERN 

    This is a universal, perennial problem and is not limited to any single person, place or product. Aside from complex factors of pharmacokinetics, improperly disposed pharmaceuticals allow these compounds to enter the environment and eventually contaminate surface waters. Pharmaceutical concentrations detected in surface waters are relatively low compared to other major environmental pollutants and occurs across continents. However, the continuous discharge of low-concentration residual active pharmaceutical ingredients (APIs) into sewage systems and waterways, even in small quantities over time, will inevitably affect the environment, humans and aquatic wildlife to some degree, raising broader environmental concerns. 

    Over the longer term, these residual hormonal, psychotropic drugs and antibiotics may eventually lead to the collapse or destruction of fish, animal and microorganism populations. This issue arises as medicines are excreted or discarded at landfills or sewage systems, where sewage treatment plant processes are unable to remove all improperly disposed pharmaceuticals. 

    The presence of pharmaceuticals in the environment is not a new phenomenon and green initiatives have been continually introduced, with various sustainable policies and frameworks set in place by international organisations and local governments across different countries. These efforts align with current trends such as green pharmaceuticals and green community programmes. 

    In the foreseeable future, the use of pharmaceuticals is only expected to increase, perpetuating the rising prevalence in medication wastage due to various factors, including over-ordering, over-prescription, changes in medication regimes, non-adherence to prescriptions and patient deaths.  Thus, it is not surprising that a portion of the medications accumulating in home cabinets will eventually find its way into the trash. 

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  • EQ Reinforces Commitment to Sustainability with Tesla Destination Charging Station

    EQ Kuala Lumpur, a leading hospitality destination strengthened its commitment to sustainability as the latest location to join Tesla’s list of Tesla Destination Charging Stations.

    The announcement of the collaboration sees three charging stations situated at LG1 basement parking of the hotel for electric vehicles (EV) guests. This simple initiative makes a significant step towards creating a more sustainable and eco-conscious travel experience. The hotel also recently achieved a Gold rating under Malaysia’s Green Building Index, underscoring their broader environmental goals to a greener future.

    Test drive sessions were also conducted for three days from 23 to 27 October, with a pop-up in the hotel lobby to showcase the latest technology to Equitorial Plaza tenants, EQ guests and patrons.

    Nationwide, Tesla provides 12 Supercharging stations with 56 Superchargers and 14 Destination Charging stations with 72 Destination chargers to cater to the charging needs from different regions.

  • RHB HONOURS 60 #JOMBIZ MICRO-ENTREPRENEURS AT ANNUAL AWARDS CEREMONY

    Kuala Lumpur – RHB Banking Group (“RHB” or the “Group”) recently hosted its annual RHB #JomBiz Awards Ceremony to recognise the achievements of 60 micro-entrepreneurs who form the third and fourth cohort of the programme.

    RHB #JomBiz is a socio-economic empowerment programme that is transforming the lives of micro-entrepreneurs from the B40 and underserved communities, providing them with the tools and support needed to build sustainable businesses.

    Aligned with RHB’s Sustainability Strategy and Roadmap, the #JomBiz programme offers comprehensive support to micro-entrepreneurs, including capability building, mentorship, and seed funding. Since its launch in 2022, RHB has invested nearly RM1 million to support close to 470 local micro-entrepreneurs, with over 320 businesses empowered in 2023 alone.

    This year’s Cohorts 3 and 4 Top 3 businesses are:

    Cohort 3 1st Place Perdagangan Ahmaz, supplier of healthy ready-to-eat food
    2nd Place Mamayaya Enterprise, supplier of ready-to-eat sambal dendeng, spiced chicken, fish paste, and marinades
    3rd Place Seri Baya Sdn Bhd, provider of cupping therapy (bekam) and facial spa services
    Cohort 4 1st Place Misscreative Enterprise, brownies baker
    2nd Place Zamzum Global, supplier of asam pedas and sambal cooking paste
    3rd Place Global Aerogel Nanotech (M) Sdn Bhd, supplier of duck meat and eggs, as well as traditional food and kuih

    Dato’ Mohd Rashid Mohamad, Group Managing Director/Group Chief Executive Officer of RHB Banking Group, said, “We are incredibly proud of the achievements of our RHB #JomBiz winners. By empowering micro-entrepreneurs with the knowledge and resources to build resilient businesses that contribute to the nation’s economic growth, this programme is aligned with RHB’s aspiration of empowering over two million individuals and businesses across ASEAN by 2026, advancing financial inclusion to maximise socioeconomic impact and drive sustainable value for all stakeholders.”

    By providing a holistic approach encompassing capability building, mentorship, emotional support, and knowledge on environmental, social, and governance (“ESG”) integration, RHB #JomBiz has helped participants achieve an average sales increase of over 35% within three months of receiving funding. These impressive results not only demonstrate the programme’s effectiveness in enhancing the financial resilience of micro-entrepreneurs but also the tangible impact it has on their lives, contributing to overall social well-being.

    In keeping with RHB’s brand promise, ‘Together We Progress’, the RHB #JomBiz programme empowers disadvantaged micro-businesses, including single parents and persons with disabilities. It equips participants with the skills to build resilient businesses, increase income, and navigate challenging economic conditions through a holistic approach encompassing financial, business, and emotional well-being modules. The programme also incorporates an ‘Intro to ESG’ module, guiding micro-SMEs on sustainable business practices.

     

  • City Motors Group’s Alfa Bangsar Wins Prestigious Best Eco Friendly High-Rise Development at Asia Property Awards 2024

    City Motors Group’s Alfa Bangsar Wins Prestigious Best Eco Friendly High-Rise Development at Asia Property Awards 2024

    Kuala Lumpur, 25th October 2024 – Alfa Bangsar, the visionary mixed-use development by City Motors Group, has been awarded the Best Eco Friendly High-Rise Development at the 2024 PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my held at the esteemed St. Regis Kuala Lumpur, the awards celebrated excellence in real estate, with Alfa Bangsar emerging as a standout for its commitment to sustainability and modern living solutions.

    Located in the heart of Bangsar, Kuala Lumpur, Alfa Bangsar integrates luxury serviced apartments, retail outlets, and a 4-star Holiday Inn Hotel into a freehold property that redefines urban living. Designed with eco-conscious residents in mind, the project highlights sustainability while delivering unparalleled convenience and lifestyle benefits.

    Key highlights of Alfa Bangsar’s award-winning features include:

    • Prime Location & Accessibility: Situated just 700 meters from the Bangsar LRT station, the development offers easy access to public transportation, reducing residents’ reliance on private vehicles.
    • Sustainability at the Core: With ample green spaces, energy-efficient layouts that harness natural light, and electric vehicle (EV) charging stations, Alfa Bangsar leads the way in promoting environmentally friendly living.
    • Innovative Multi-Rack Parking System: A space-optimized parking solution designed to enhance convenience for residents while maintaining efficient land use.
    • Sustainable Construction Practices: Leveraging cutting-edge construction methods that reduce building time without compromising on quality.
    • Flexible Work-Life Balance: The minimalist unit designs offer flexible home office setups, catering to the growing demand for hybrid workspaces.

      “We are incredibly proud to receive this recognition at the 2024 PropertyGuru Asia Awards Malaysia,” said Terence Chia, CEO of City Motors Group. “Alfa Bangsar represents our vision for a sustainable future, combining luxury with eco-friendly living. This award is a testament to our commitment to creating innovative, high-quality developments that meet the evolving needs of today’s urban residents.”

      In addition to this remarkable win, Alfa Bangsar has also qualified to participate in the PropertyGuru Asia Awards Grand Final 2024 in Bangkok this December, where it will compete in the Best Eco-Friendly Condo Development (Asia) category, bringing its sustainable approach to a regional stage.

      Alfa Bangsar’s success comes just as the development nears completion, with over 99% of units sold before handover. The project’s heritage-rich site, once home to an Alfa Romeo showroom, pays homage to the chairman’s legacy as the world’s top Alfa Romeo dealer—known as the “Alfa King.” Alfa Bangsar is poised to welcome its residents soon, offering a blend of luxury, sustainability, and modern amenities.

      To discover more about Alfa Bangsar, interested parties can visit our website www.alfabangsar.com, or call +60 11-1081 0782 to schedule an appointment to view the sales gallery and show unit.


      For media inquiries and further information, please contact:

      Lucille Joyce Dayan

      +60122300587

      Lucille.joyce@citygroup.com.my

  • Borong Joins Forces With Maybank Islamic For Malaysia’s First B2B Halal Marketplace

    Borong Joins Forces With Maybank Islamic For Malaysia’s First B2B Halal Marketplace

    KUALA LUMPUR, 28 OCTOBER 2024 – Borong — Malaysia’s leading wholesale business-to-business (B2B) e-commerce and marketplace solution provider — has launched Salaam Market, the country’s first digital retail platform of its kind, in collaboration with Maybank Islamic, marking a significant step forward in positioning Malaysia as a leader in the international Halal industry. Salaam Market is designed to empower local SMEs by integrating Halal certification support and financial services, paving the way for these businesses to navigate the complex Halal market and expand their reach internationally. 

    This concept offers a seamless digital solution for sourcing Halal-certified products at competitive prices, directly connecting SMEs with suppliers. Fundamentally, the platform helps SMEs in Malaysia, Indonesia, Cambodia, and Singapore to facilitate Halal transactions. With no minimum order requirements and direct access to certified Halal ingredients, the marketplace aims to reduce costs and increase convenience for SMEs. 

    The global Halal market is set to grow to US$5 trillion by 2030, with domestic growth estimated to reach US$113.2 billion. Yet, SMEs entering the space face challenges like high ingredient costs, complex certification, and limited access to working capital, slowing their growth. 

    “For us, this initiative represents a significant step in modernising the Halal market,” said Aizat Rahim, managing director and co-founder of Borong. “Not only Salaam Market aligns with the country’s goal to become a global leader in Halal compliance, we also worked hard to ensure it addressed the key challenges for SMEs, which are affordability, financing, and certification, through the support of Maybank Islamic’s financing solutions while also being supported by JAKIM’s Halal certification.” 

    The partnership with Maybank Islamic will connect Borong’s SME businesses to tailored Islamic financial solutions, alongside in-house Halal facilitation guidance, coupled with digital document management tools, facilitating easier access to Halal markets both locally and internationally.

    “Salaam Market will connect buyers and sellers in an e-commerce platform to make online transactions seamless. Each product sold on the platform has been verified of its Halal authenticity to give assurance to buyers. This is one of Maybank Islamic’s Halal beyond banking solutions to serve the needs of our customers and we will continue to strengthen our Halal ecosystem propositions to support the national agenda of growing the Halal domestic market to an estimated USD113.2 billion by 2030,” said Maybank Islamic Strategic Programme Director, Dr. Muhd Ramadhan Fitri Ellias.

    For more details and to explore the full range of certified Halal products, visit the Salaam Market platform at www.salaammarketmy.com/my 

     

  • Sustainable Action Conference 2024: Last Call for NGO Funding Applications – Deadline November 4th!

    Sustainable Action Conference 2024: Last Call for NGO Funding Applications – Deadline November 4th!

    PETALING JAYA, MALAYSIA – The Sustainable Action Conference (SAC) 2024, hosted by Control Union Malaysia in collaboration with the Malaysian Dutch Business Council (MDBC), is pleased to announce an exclusive funding opportunity for NGOs across Malaysia, supporting impactful sustainability projects. With the backing of generous sponsors, including CarbonSpace, EPIC, and SaraCarbon, SAC 2024 is dedicated to driving collective efforts towards a more sustainable future.

    Highlighting outstanding contributions to environmental and social change, SAC 2024 will host an awards ceremony celebrating NGOs championing meaningful initiatives in Malaysia. Following last year’s success, where BLU HARAPAN received a 50,000 MYR grant to support their plastic neutrality and fish bombing prevention programs, this year’s award promises another chance for NGOs to make a difference. The selection of the winning NGO will be based on audience voting, considering the project’s potential impact, innovation, and alignment with SAC’s mission to turn sustainability commitments into actionable outcomes.

    How to Apply

    NGOs are encouraged to submit their project proposals via the forms on our website by November 4, 2024, to join this prestigious event. Winners will receive not only critical funding but also high-profile visibility among leaders from sustainability sectors, government, and industry. To participate, please apply here: NGO Application Form

    Furthermore, should your organization have funding and is interested to sponsor, raise awareness, contribute to impactful projects and be part of a sustainable future, we invite you to join us.

    Together, let’s fund a sustainable future!

    For further details, visit our website at www.sustainableactionconference.com or reach out to us at dinusha@controlunion.com.

  • DHL Express opens expanded Kuala Lumpur Gateway to cater to trade growth in Malaysia

    DHL Express opens expanded Kuala Lumpur Gateway to cater to trade growth in Malaysia

    • The new facility is the largest DHL Express investment in Malaysia, to date
    • The gateway is triple the size of its predecessor and can handle four times more shipment volume
    • First fully automated sorting DHL Express gateway in Southeast Asia, further supporting intra-regional trade

    Kuala Lumpur, Malaysia, 28 October 2024: DHL Express has unveiled an expanded Kuala Lumpur Gateway to better support businesses exporting out of and importing into Malaysia following significant increase in international trade. The new RM300 million (EUR60 million) facility represents the company’s largest local investment to date, and forms part of its strategy to bolster intra-Asia connectivity.  

    Standing at 13,422 square metres, the enhanced Kuala Lumpur Gateway is thrice the size of its previous premise. It is also the first of its kind in Southeast Asia equipped with a fully automated sorting system. Combining the two kilometre-long conveyor belt and high-speed scanning system allows inbound and outbound shipments to be processed four times as fast, and achieve a peak throughput of 10,000 shipment pieces per hour. This translates to accelerated transit times and shorter delivery windows. 

    “We are on a well-planned track to continuously strengthen our network in robust economies. We see rapidly rising cargo volumes in Malaysia, which also shows massive potential for a sustained uptrend, as the country emerges as a preferred omni-sourcing destination. The Kuala Lumpur Gateway enables our customers to better leverage import and export opportunities, especially via the facility’s busiest trade lanes including the United States, China, Hong Kong, Japan, Singapore, Australia, Germany, and the United Kingdom,” said Ken Lee, CEO for Asia Pacific, DHL Express.

    “In 2023, Malaysia jumped 15 places in the World Bank Logistics Performance Index to 26th, among the best in ASEAN,” said YB Anthony Loke Siew Fook, Transport Minister of Malaysia. “These indicators attest to the vibrancy of our courier services sector, which is witnessing positive momentum and has the drivers for long-term growth in place. The expansion of the Kuala Lumpur Gateway is a vote of confidence and helps to reinforce our country’s role as a critical node in global supply chains.”

    Connected by two dedicated aircraft to DHL’s Central Asia and South Asia Hubs, the Kuala Lumpur Gateway is a pivotal link for facilitating the smooth movement of goods between the Klang Valley and overseas markets. Kuala Lumpur and Selangor collectively account for a sizeable chunk of Malaysia’s trade, most recently contributing RM3.3 billion in export value and RM7 billion in import in August 2024. 

    Optimised for security excellence, the facility has been certified TAPA Class A, the highest airfreight security standard awarded by the Transported Asset Protection Association. Housing more than 400 CCTV cameras, 24-hour surveillance, and state-of-the-art X-ray screening, the facility has also been certified for compliance under the Customs-Trade Partnership Against Terrorism (C-TPAT) programme.

    Sustainability is a priority when designing the facility. Constructed in alignment with DHL Group’s guidelines for a carbon-neutral building, green technologies are installed across the complex. These include 500 kilowatt-peak solar panels, smart LED lighting, and energy-efficient systems for water and electricity. The approach towards clean operations extends to the use of electric vehicles at the facility, from forklifts and tow tractors to vans and scooters. This has led to the Kuala Lumpur Gateway achieving LEED (Leadership in Energy and Environmental Design) certification, the world’s most widely-used green building rating system.

    “Through this offering, we boost our ability to support customers in navigating the evolving needs of cross-border shipping with wider and faster capacity,” said Julian Neo, Managing Director, DHL Express Malaysia and Brunei. “The upgraded Kuala Lumpur Gateway demonstrates our commitment to keep investing in the flexibility, agility, and resilience of our supply chain capabilities. The new, larger facility is ideally positioned to extend accessibility and complement our footprint in the more than 220 countries and territories we serve worldwide.”

    Located at the KLIA Air Cargo Terminal 1 (KACT1), the Kuala Lumpur Gateway is one of five similar facilities in DHL Express Malaysia’s aviation and ground network. This includes 20 service centres, about 170 retail points of sale, more than 300 pick-up and delivery vehicles, over 60 weekly flights, four dedicated aircrafts, and a 1,300-strong workforce.

    The facility’s opening was officiated today by the Prime Minister of Malaysia, YAB Dato’ Seri Anwar bin Ibrahim. YB Anthony also attended alongside approximately 400 industry authorities, partners, and customers.

  • Zurich Malaysia Appoints Pauline Teoh as Chief Executive Officer at Zurich Life Insurance Malaysia Berhad

    Zurich Malaysia Appoints Pauline Teoh as Chief Executive Officer at Zurich Life Insurance Malaysia Berhad

    KUALA LUMPUR, 28 October 2024 – Zurich Life Insurance Malaysia Berhad (ZLIMB) is pleased to announce the appointment of Pauline Teoh as its new Chief Executive Officer, effective 1 November 2024. Pauline brings over 25 years of experience in the insurance industry, having held multiple senior leadership roles across the APAC region with leading financial institutions. 

    Junior Cho, Country CEO/Head of Zurich Malaysia, said, “We are excited to welcome Pauline as the new CEO of ZLIMB. Her extensive experience, industry knowledge, and strong leadership skills make her the ideal person to drive ZLIMB’s business through growth, diversification, simplification and innovation. Pauline will report to me and be part of our leadership council to align with the OneZurich approach under Zurich Malaysia.”

    “Pauline’s dedication to delivering customer-focused solutions aligns perfectly with Zurich Malaysia’s mission to provide innovative insurance products that meet the evolving needs of Malaysians. We are confident that she will play a pivotal role in spearheading initiatives that strengthen ZLIMB’s competitive edge in the insurance sector.” Cho added.

    Pauline is highly regarded in the insurance industry, with a proven record in driving business growth, digital transformation, partnership management, sales and distribution, and financial risk management. Pauline holds a Bachelor of Mathematics, Actuarial Science and Economics from the University of Waterloo, Canada and is a Fellow of the Society of Actuaries.

    Commenting on her appointment, Pauline Teoh said, “I am honoured to lead ZLIMB and look forward to contributing to the company’s continued success. Zurich Malaysia’s dedication to innovation and customer-centricity resonates with my own values, and I am excited to work with the team to continue delivering best-in-class solutions that truly care for what matters most to Malaysians, as we create a brighter future together.”

    For more information about ZLIMB and its offerings, kindly visit https://www.zurich.com.my/.