Inovatif

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  • Singapore at a Discount: MITI Deputy Minister Highlights Malaysia’s Strategic Advantages at Rotary Club Event

    Kuala Lumpur — The Deputy Minister of Investment, Trade and Industry (MITI) was present at The Rotary Club of Malaysia’s Group 12 Interclubs Meeting, which seeks to promote a better and deeper understanding on Malaysia’s competitive economic landscape. Attended by more than 100 Rotarians and guests, the event focused on discussing the country’s economic landscape and future prospects, drawing on Liew’s latest publication entitled the Second Takeoff.

    In his keynote address, Liew emphasised the country’s strategic advantages in the shifting global manufacturing paradigm as he pointed out that higher-end manufacturing plants are increasingly establishing operations in Malaysia, which positions the country as a competitive player in Southeast Asia.

    Challenging the perceptions of Malaysia as merely “Vietname plus,” Liew suggested that it should be instead viewed as “Singapore at a discount” due to the country’s strong infrastructure, common law framework, and significantly lower costs of living and doing business compared to Singapore.

    “Knight Frank recently reported that office rentals in Central Prime Territory Kuala Lumpur are just 15% of those in Singapore—an 85% discount,” Liew noted, illustrating Malaysia’s competitive edge.

    Addressing concerns about talent availability in Malaysia, Liew acknowledged that the challenge lies not in a shortage of skilled workers but in wage competitiveness. He argued that as investment flows into the country, companies will be compelled to offer higher wages to attract and retain talent. “When you compete for workers, you’re prepared to pay more,” he stated.

    Liew highlighted that discussions on talent often overlook valuable sources, such as women. With women comprising 65% of public university enrolments and holding a significant portion of civil service and leadership roles, he encouraged a broader perspective on talent cultivation.

    The Deputy Minister also addressed the paradox of over a million Malaysians working in Singapore, often in roles that do not reflect their qualifications. He suggested that Malaysian employers could attract returning talent by offering competitive wages—around two-thirds of what is offered in Singapore. “If a 30-year-old engineer in Penang is offered a comparable salary, many would seriously consider returning,” he remarked.

    The evening concluded with a lively Q&A session, allowing attendees to engage directly with Liew on various topics, reinforcing the Rotary Club’s commitment to fostering dialogue on national and economic issues.

  • VSTECS Unites Technology Leaders at Malaysia’s Premier AI + DC Conference

    VSTECS Unites Technology Leaders at Malaysia’s Premier AI + DC Conference

    Kuala Lumpur, 10 October 2024 – VSTECS Berhad (“VSTECS”or the “Company”, 偉
    仕佳杰, Stock Code: 5162), Malaysia’s leading Information & Communications Technology
    (“ICT”) distributor, today hosted the nation’s largest convergence of Artificial Intelligence (“AI”)
    and Data Centre (“DC”) technology leaders. This landmark event gathered industry pioneers
    and thought leaders from global technology giants – such as Nvidia, AWS, Microsoft, VMware,
    AMD, Dell, HPE, Lenovo, IBM, Juniper, Cisco, Huawei, and Alibaba – alongside local
    independent software vendors (“ISVs”) specialising in AI solutions, to share cutting-edge
    advancements and opportunities in AI and DC solutions.

    In his keynote address, JH Soong, CEO of VSTECS, emphasized the Company’s commitment
    to driving digital innovation and enriching the technology ecosystem in Malaysia. He
    highlighted VSTECS’s role in bridging the gap between cutting-edge technology and local
    enterprises, contributing to the country’s digital transformation.

    “AI and DCs are the foundation of the digital revolution, and we are proud to be part of this
    transformation,” said Soong. “VSTECS is committed to fostering collaboration, sharing
    knowledge, and enabling businesses to fully leverage these technologies. Malaysia is not just
    prepared to participate in this global shift—we are poised to be a key player, emerging as a
    regional hub for data centres, the key infrastructure to support and process the massive
    amounts of data that fuel AI algorithms.”

    During the conference, VSTECS also announced its appointment as the authorised server
    partner for Supermicro in Malaysia, further expanding its portfolio of industry-leading solutions.
    “This partnership further enhances VSTECS’s position as the leading distributor in Malaysia’s
    ICT infrastructure space, allowing us to offer high-performance server solutions that meet the
    increasing demands of the market,” added Soong.

    In addition to featuring global tech leaders, numerous local AI ISVs were showcased at the
    conference. This initiative aims to enrich the ecosystem by encouraging local developers to
    market their AI solutions through VSTECS’s extensive channel network, reinforcing the
    Company’s commitment to supporting local talent and innovation. The VSTECS AI + DC
    Conference 2024 proved to be a resounding success, offering an invaluable platform for
    industry leaders to connect, exchange ideas, and form strategic collaborations.

  • INSUREKU USHERS IN A NEW ERA FOR MALAYSIAN INSURANCE AND TAKAFUL WITH DIGITAL-FIRST AGGREGATION SERVICE, LAUNCHING WITH TRAVEL COVERAGE

    INSUREKU USHERS IN A NEW ERA FOR MALAYSIAN INSURANCE AND TAKAFUL WITH DIGITAL-FIRST AGGREGATION SERVICE, LAUNCHING WITH TRAVEL COVERAGE

    Kuala Lumpur, Malaysia, 10 October 2024 – insureKU, a brand under leading listed local technology company, Censof Holdings Bhd (“Censof”) and Malaysia’s first true end-to-end digital insurance and takaful aggregation platform, has officially launched its consumer-focused platform with a selection of curated travel related solutions. 

    insureKU is redefining how Malaysians access and manage their insurance needs, starting with the convenience of securing travel coverage from digitally-forward insurance providers. This is part of its larger aspiration of a comprehensive expansion into general, life, and medical insurance in the coming months.

     

    “We are challenging what the idea of insurance – how you research, understand, compare, and make an informed purchase – looks like. For too long, consumers have been faced with confusing, difficult to navigate, and unnecessarily costly insurance and takaful buying decisions, even with seemingly less complex types of insurance like travel coverage. With insureKU, we are democratising the entire

    process, making it easier for consumers to understand and compare what they are buying, and then making informed decisions on which insurance provider they want to work with,” said Shadhana Sekaran, co-founder and Chief Executive Officer of insureKU. 

    Choosing travel insurance as its debut product offering, insureKU has built a consumer-focused offering that identifies, addresses, and solves the pain points that consumers associate with understanding, selecting, picking and eventually purchasing the insurance and takaful products that their travel needs demand. 

    With insureKU’s tailored travel insurance options, Malaysians can better safeguard their journeys immediately in a matter of minutes, and manage potential risks such as trip cancellations, medical emergencies, lost luggages, delays and much more. 

    insureKU is a product of Censof Maal Sdn Bhd, a subsidiary of the leading financial management software solutions provider, Censof. It aims to revolutionise how Malaysian consumers access and benefit from their insurance policies by leveraging its technological capabilities and the collective knowledge and experience of insureKU’s founders and Censof’s technology development, system experience and regional reach. Through this process, savings from insurance companies are also passed back to consumers, leading to better real-world prices for products and services in a single website as well. 

    A Seamless and Consumer-Centric Experience 

    insureKU leverages cutting-edge technology to provide a comprehensive and personalised experience for users. The platform allows customers to compare travel insurance policies from a wide range of top insurance providers, ensuring they find the best coverage that suits their needs. With a focus on simplicity and user-friendliness, insureKU enables users to purchase policies in just a few clicks, offering instant access to coverage details and support. 

    “Our goal is to empower Malaysians to make informed decisions about their insurance needs, starting with travel coverage,” added Shadhana. “We are committed to simplifying the insurance process, making it more transparent, and providing consumers with the tools they need to protect themselves and their loved ones when travelling.” 

    Looking Ahead: Expanding Insurance Offerings 

    Among the earliest authorised participants under Bank Negara Malaysia’s Financial Technology Regulatory Sandbox, insureKU is setting a new standard for what is undeniably a critical area for many consumers – financial planning for their future. 

    While travel insurance is the first product available on InsureKU, the platform is designed to accommodate a wide range of insurance needs. Over the coming months, InsureKU will introduce

    additional insurance and takaful products, including life, general, and personal accident. This phased approach ensures that consumers can gradually familiarise themselves with the platform while gaining access to a broader selection of insurance products. 

    “InsureKU is not just a platform for purchasing travel insurance – it is the beginning of a new era in how Malaysians interact with insurance,” explained Ashveen Chakravarthy, Chief Operating Officer of InsureKu. “As we expand our offerings, our vision is to create a one-stop solution for all insurance needs, where consumers can easily compare, select and purchase their policies online.” 

    insureKU has been under development and testing for the past 6 months since its entry into the Sandbox. Incubated within Censof, it is today, the first native end-to-end industry integrated insurance and takaful aggregation and solutions platform in the country. 

    For more information and to explore insurance options, a visit to www.insureku.com promises valuable insights and resources. 

     

  • Theta Edge Berhad forms Strategic Partnership to Deliver Mobility as a Service

    Theta Edge Berhad forms Strategic Partnership to Deliver Mobility as a Service

    Kuala Lumpur, 07 October 2024 – Theta Edge Berhad (Theta or the Company), a leading ICT company listed on the Main Board of Bursa Malaysia with over 30 years of experience, continues its transformation journey by expanding into urban mobility. In line with the company’s strategic objectives of driving long-term shareholder value, Theta is leveraging its expertise in civil mechanical engineering, telecommunications, and technology to introduce Mobility as a Service (MaaS) with the aim of enhancing urban mobility and sustainability.

    Building a Sustainable Future: LRT & ART Integration

    As part of its commitment to building a sustainable future, Theta, in collaboration with the Nylex Consortium, offers a capex efficient integrated solution in the form of Light Rail Transit (LRT) and Autonomous Rapid Transit (ART) system in Johor Bahru. This innovative hybrid public transport solution is designed to offer efficient, scalable, and flexible mobility options to the city’s growing population. 

    Leveraging Expertise for Impactful Results

    The strategic partners potentially involved in this collaboration bring a wealth of experience and proven expertise in executing large-scale rail projects both locally and internationally. Highlights include:

    1. China Harbour Engineering Company Limited – Currently engaged in building Malaysia’s Rapid Transit System (RTS) and East Coast Rail Link (ECRL).
    2. China Energy International Group Company Limited – Leading the ART pilot project in Istanbul, with a 40 km route and 37 stations, integrating with a metrobus system that serves about 1 million passengers daily.
    3. BTS Group Holdings PCL – A proven leader in Bangkok’s Mass Rapid Transit (MRT) system, operating six MRT Skytrain lines for over 25 years and recognized globally as the most sustainable Transportation & Transportation Services company by the Dow Jones Sustainability Index for four consecutive years.

    Driving Innovation and Collaboration

    Datuk Nuraslina Zainal Abidin, CEO of Theta Edge, commented, “We are excited to collaborate with renowned partners who bring not only their expertise but also cutting-edge technology and experience. Together, we aim to deliver a truly innovative and sustainable Mobility as a Service (MaaS) solution that will positively transform urban mobility. This project is a key part of our vision to create a technologically advanced and connected future.”

    The integration of the LRT and ART systems will complement the upcoming RTS, scheduled to be fully operational by January 2027. This hybrid transport solution is expected to cater to both local and Singaporean ridership, addressing future demand while improving the overall passenger experience.

    Why an Integrated Approach?

    The hybrid LRT-ART system presents several significant advantages:

    1. Efficiency: ART will enhance LRT and RTS by reducing congestion and waiting times.
    2. Accessibility: The system is designed to serve both high- and low-density areas, expanding transport options for a wider range of commuters.
    3. Cost-effectiveness: The hybrid solution reduces construction and operational costs while offering a sustainable long-term transportation strategy.
    4. Scalability: Designed to grow with the city’s population and urban development.

    Contributing to Malaysia’s Sustainable Goals

    Theta Edge’s involvement in this project is aligned with its 5-year strategic value creation plan, which emphasizes continuous innovation, strong partnerships, and sustainability. The Johor Bahru LRT-ART project also supports Malaysia’s Twelfth Malaysia Plan and its commitment to achieving net-zero greenhouse gas emissions by 2050.

    By leveraging the collective expertise within both consortiums, this collaboration is poised to deliver a cutting-edge transportation system that will significantly enhance urban mobility, contribute to economic growth, and improve the quality of life for residents in Johor Bahru.

  • S2 HEIGHTS AMAN WELCOMES BATIQ

    S2 HEIGHTS AMAN WELCOMES BATIQ

    As an exclusive offering for those seeking a home that promises an unparalleled sense of belonging and living experience, IJM Land is delighted to announce the much-anticipated launch of Batiq @ S2 Heights Aman. This distinguished residential development, within the fourth and final precinct of the esteemed S2 Heights development, is conceptualised as a tranquil green haven that epitomises elegance, sophistication and refined living.

    Nestled within an idyllic living environment, Batiq offers a peaceful retreat from the hustle and bustle of urban life, enabling homeowners to unwind and rejuvenate. Spanning an expansive 400 acres, S2 Heights Aman boasts a Gross Development Value (GDV) of RM1,585,050,000. Of this, 43 acres are dedicated to cultivating lush green spaces against the scenic backdrop of the Banjaran Titiwangsa mountain range.

    Of which, 20 acres will be dedicated to Batiq with a GDV of RM173 million, which comprises 177 units of Lakeside 2-Storey Superlink Homes with a Semi-D concept, starting at an attractive price point of RM878,800. These homes offer all the modern comforts we are accustomed to, complemented by the serene beauty of the surrounding environment.

    Tradition and Innovation   

    Inspired by the intricate and vibrant art of applying batik to fabric, Batiq @ S2 Heights Aman stands as a vivid tapestry of cultural heritage and resolutely contemporary design. This latest gemstone within the esteemed S2 Heights development reimagines optimised residential living by seamlessly integrating traditional artistry with eco-friendly innovations, offering a distinctively rejuvenating and enriching lifestyle.

    At the core of this design is a celebration of batik’s rich textures and cohesive patterns, creating a living environment that is both visually captivating and respectful of cultural traditions. Spanning 4.33 acres, utilising 21.65% of the entire development dedicated to green space, the project underscores a commitment to ensuring that every element contributes to the well-being of its residents. Homeowners will find themselves in a lively community that also offers all the conveniences of city living at their doorstep.

    “Batiq enjoys a prime location adjacent to the 12-acre S2 Lake Park, the 3-acre Kidz Venture Park, and a Pet-Friendly Zone,” said Datuk Chai Kian Soon, Senior General Manager of IJM Land. 

    “Here, residents have easy access to key recreational areas, providing immediate enjoyment of their surrounding green spaces and family-friendly amenities. The planned 12km of interconnected walkways, cycling paths, and jogging trails enhance the lifestyle experience with varied outdoor activities. The serene setting of S2 Heights Aman, coupled with thoughtfully designed homes and abundant green spaces, ensures a holistic quality of life. ”

    Elevating Living

    Perched on elevated ground, Batiq offers breathtaking views and features a generous 40′-50′ road frontage. It provides an impressive entrance with grand landscaping that enhances the overall aesthetic appeal.

    Phase 1 introduces 82 units of Lakeside 2-storey Superlink Homes, with a Gross Development Value (GDV) of RM 80 million. These homes are available in both intermediate and corner lots, each with dimensions of 28′ x 60′. Unlike typical link homes, which are usually 20 to 24 feet wide, these 28′ Batiq homes offer a distinctly premium experience. The additional width allows for larger living spaces and a more open layout, enhancing the overall sense of liveability and comfort within the interior. 

    Similarly, the Intermediate Lots provide a spacious built-up area of 2,113 square feet, while the Corner Lots are a generous 2,183 square feet in size. Every residence features 4 bedrooms and 4 bathrooms, making them a distinctive choice for those seeking both space and elegance.

    The architectural facade of Batiq epitomises sophistication with industrial wall tones and earth-toned brickworks that’s homely and charming. Interiors are enhanced with premium Feruni porcelain and timber-patterned tiles, along with high ceilings and powder-coated aluminium frames. Likewise, tinted windows and tempered glass railings at the balconies contribute to the airy perception of the interior. In the bedrooms, each bathroom is also thoughtfully designed with an en suite for added convenience and privacy.

    Modern amenities further enhance the living experience at Batiq, with smart home systems, digital door locks, and EV isolator point seamlessly integrating convenience and luxury into everyday life. This thoughtful approach ensures that every moment of living at Batiq is a celebration of community, comfort, and sustainability.

    Connected Sanctuary

    Batiq epitomises an interconnected community, where every detail is thoughtfully designed to ensure that each residence features a 10’ private garden, offering a personal retreat for relaxation, recreation, and creative outdoor pursuits. The surrounding landscape harmoniously incorporates native plants, trees, and natural materials, fostering biodiversity and creating a peaceful environment. With perimeter fencing and a single, secure access point, residents have peace of mind as they navigate the three distinct parks that blend leisure and nature in truly unique ways.

    The largest 2.35-acre community park is a vibrant oasis. It features a 1.4km jogging track that winds through lush greenery, a calming forest walk, and a charming orchard garden. The park also includes a well-equipped playground, a basketball court, and an urban farming area, providing diverse recreational options for all ages.

    The 0.58-acre central park offers meticulously landscaped spaces, ideal for relaxing strolls and social gatherings. Meanwhile, the modest 0.8-acre pocket park presents a more intimate setting for peaceful reflection. As a safety precaution, all parks and playgrounds are illuminated with eco-friendly LED and solar-powered lighting for visibility during the night which also underscores Batiq’s commitment to sustainable living.

    Accessibility and Local Convenience

    Residents of Batiq and the greater S2 Heights Aman township benefit from easy access to major highways, including the PLUS, ELITE, and LEKAS, which swiftly link them to KL, Selangor, Putrajaya, Cyberjaya, Malacca, and a toll-free route to KLIA and KLIA2. 

    The township’s strategic location ensures proximity to a variety of essential services. Financial institutions, a government precinct, reputable schools, and top-tier healthcare facilities such as KPJ Hospital and Columbia Asia Hospital are all within reach. Residents can easily access daily essentials and shopping needs with commercial hubs like AEON Mall, Mydin Mall, Lotus’s, NSK Trade City, Seremban Gateway and Palm Mall nearby. The Ainsdale toll, just a 5-minute drive away, and the Tiro KTM station ease commuting and travel.

    Datuk Chai Kian Soon, Senior General Manager of IJM Land, stated, “Batiq stands out as a residential enclave for serene living and modern convenience. The forthcoming expansion of Labu Road from 2 to 4 lanes will greatly improve traffic flow, making daily commutes even more seamless and reinforcing S2 Heights Aman’s position as a premier residential choice. This development offers effortless access to green spaces and essential amenities, ensuring long-term value for residents and investors alike.

    Looking ahead to 2025, we are excited to unveil our first integrated waterfront development in Seremban. This groundbreaking project promises to transform the landscape of Seremban 2, creating a dynamic and vibrant community hub that harmoniously integrates modern amenities with the serene beauty of waterfront living. Our vision is to set a new standard for modern living, combining cutting-edge design with unparalleled convenience and green spaces.”

    For more information, log on to https://seremban2.ijmland.com/Batiq

  • Shaping Tomorrow: Malaysia’s Circular Economy through Renewable Energy in Education

    In a landmark effort to bring renewable energy solutions to Malaysia’s education sector, Malaysia One Hundred, a think tank based in Ipoh, in collaboration with GSPARX, a subsidiary of Tenaga Nasional Berhad (TNB), is spearheading an ambitious solar panel project in Government-Assisted Schools (SBKs) across the Kinta Valley in Perak under the Net Energy Metering 3.0 programme (NEM 3.0). This initiative, which also enjoys strong support from YB Howard Lee, MP for Ipoh Timor, represents a crucial step towards Malaysia’s National Energy Transition Roadmap (NETR), with a broader aim of contributing to the circular economy.  

    The Solar Energy Pilot Project in Schools 

    Dubbed within inner circles as the “Schools Solar Energy Pilot Project,” this project is designed to reduce energy costs for schools by introducing renewable energy into their infrastructure. The installation of photovoltaic (PV) solar panels in participating schools will help generate energy savings, estimated at RM200,000 annually. That is, if Malaysia One Hundred, GSPARX and TNB achieve their goal of generating 1 megawatt of energy through the installation of PV solar panels.  

    Out of the 15 schools that signed a Memorandum of Understanding (MoU) with GSPARX, seven schools have thus undergone site visits by GSPARX and TNB for further assessments, demonstrating strong momentum for the initiative. Should all seven schools proceed with the installation of PV solar panels, a total of 596.55 kilowatt peak (kWp) will be generated, with an estimated RM100, 000 in energy savings annually.  

    By equipping schools with solar energy, GSPARX and Malaysia One Hundred are not only addressing the rising electricity costs faced by schools but also ensuring that these educational institutions play a key role in Malaysia’s renewable energy future. This aligns with Malaysia’s goal of achieving 70% renewable energy by 2050, a goal that is critical for the nation’s energy security and environmental sustainability. 

    Offering the dual benefit of reducing operational costs for educational institutions while contributing to the broader national goal of reducing carbon emissions, this project is also part of a broader trend of significant investments in solar power across Asia. As a continent, Asia has become the world’s top solar power generator, with China holding the top spot as the global leader in solar photovoltaics usage. Since surpassing Germany in 2015, China has maintained its dominance, and by the end of 2023, Chinese energy companies had amassed 2,919 GW of cumulative installed solar capacity – an enormous leap from 2016’s total of 77 GW. This extraordinary growth has been propelled by China’s position as the world’s largest manufacturer of solar panels, driving both domestic and international markets. 

    YB Howard Lee’s recent engagements with China’s leading renewable energy companies underscore the importance of international collaboration in driving Malaysia’s renewable energy agenda. These meetings have laid the groundwork for knowledge exchange, investment opportunities and technology transfers that will benefit Malaysia’s energy transition efforts. The insights gained from these discussions have directly influenced the design and implementation of the solar energy pilot project in Ipoh, ensuring that Malaysia One Hundred and its partners are leveraging global best practices to achieve the nation’s ambitious renewable energy goals. 

    Solar Energy and the Circular Economy 

    The integration of solar energy in schools in Malaysia is not just about reducing electricity bills or serving as a cost-saving measure, it is a powerful step towards a circular economy, a system that prioritises sustainability, resource efficiency and waste reduction. At the core of the Schools Solar Energy Pilot Project is the commitment to minimising environmental impact while maximising long-term benefits.  

    Solar panels, as the name suggests, harnesses an abundant renewable energy source – the sun. The long lifespan of the panels and the recyclable nature of their key components, such as aluminium and glass, ensure that the project contributes to a sustainable, closed-loop system, where resources are reused rather than discarded.  

    But the impact does not stop there. The solar energy infrastructure is also expected to stimulate job creation in green technology sectors, opening new opportunities in areas such as installation, maintenance and recycling. As the nation transitions towards renewable energy, the demand for expertise in these fields will grow, reinforcing the nation’s commitment to both environmental sustainability and economic development.  

    Impacting Students and Schools  

    Beyond the environmental and economic benefits, the project is also a powerful educational tool. Students at the participating schools are witnessing first-hand how solar energy can transform their learning environment, providing a real-world lesson in the growing green economy. As solar energy infrastructure becomes part of their everyday environment, students are exposed to cutting-edge technology that not only powers their classrooms but also serves as a tangible example of the future job market.  

    Schools are increasingly incorporating renewable energy topics into their curriculum, sparking interest in STEM fields like engineering, environmental science and green technology. The direct exposure through the Schools Solar Energy Pilot Project is preparing a new generation for evolving job opportunities in solar installation, maintenance and recycling – creating a pipeline of future professionals who will help drive Malaysia’s green transition.  

    This pilot initiative connects students to both environmental responsibility and future career paths, ensuring that the impact of solar energy reaches far beyond the immediate savings on energy bills.  

    The Coexistence of Heritage and Modernisation 

    A unique challenge presented itself with the Schools Solar Energy Pilot Project, as most schools in Perak are housed in heritage buildings, some of which have stood for over a century. These buildings are more than just educational spaces – they are cultural landmarks that form the foundation of their communities. While Malaysia One Hundred is committed to bringing modern, sustainable energy solutions to schools, it recognises that this must not come at the expense of their rich historical value. 

    By ensuring GSPARX thoroughly assesses the integrity of the roof structures and ensuring that the installation of PV solar panels does not compromise the architectural heritage, the project demonstrates that sustainability and heritage conservation can coexist. Renewable energy can be seamlessly integrated into these iconic structures, allowing them to serve both as symbols of the past and beacons of a sustainable future, proving that progress and preservation can go hand in hand.  

    A Sustainable Future for Perak and Beyond  

    The Schools Solar Energy Pilot Project aligns with the broader goals of the NETR, making it a stepping stone towards a sustainable future for Perak and, by extension, Malaysia. By integrating renewable energy into the fabric of educational institutions, Malaysia One Hundred and its partners are not only promoting a greener environment, but also fostering a generation of energy-conscious citizens. These students will be at the forefront of Malaysia’s renewable energy transition, equipped with the knowledge and inspiration to contribute to a circular economy and a more sustainable future. 

     

     

  • Ouch! Secures RM5 Million Amid Extended BNM Sandbox Approval

    Ouch! Secures RM5 Million Amid Extended BNM Sandbox Approval

     

    KUALA LUMPUR, XX October 2024 – Malaysia’s pioneering digital takaful operator — Ouch! — has successfully secured RM5 million in its recent fundraising round from PPB Ventures Sdn Bhd (PPB Ventures). Alongside this financial boost, Ouch! has also received an additional 1-year extension to operate under Bank Negara Malaysia’s (BNM) Regulatory Sandbox, strengthening its goal to provide accessible takaful solutions. PPB Ventures joins a long line of Ouch!’s key investors including OSK Ventures, RHL, and Vynn Capital in the company’s efforts to provide unique, accessible takaful solutions. 

     

    With Malaysia’s takaful market showing significant growth — specifically, a 7.55% increase in Family Takaful gross contributions, and total contributions reaching almost RM9 billion as noted by the Malaysian Takaful Association — this strategic funding will propel Ouch!’s mission in meeting the rising demand for accessible, Shariah-compliant financial protection. Fundamentally, Ouch! aims to establish a secure, digital platform to meet the needs of every Malaysian, considering approximately 30 million Malaysians are still underserved in terms of financial protection. 

     

    In this vein, the funds will be invested to expand market share, enhance technology infrastructure, and drive product innovation to better serve the community. One of Ouch!’s primary objectives lies in the transition from its current reliance on a third-party core system to a proprietary, independent system using  a suite of cutting-edge technological innovations. Ouch! is also working towards securing a DITO licence from BNM, which will enable the company to close critical protection gaps for Malaysians, especially young families.

     

    “We are thrilled with the support from PPB Ventures as we push forward with our mission to redefine financial protection in Malaysia through Shariah-compliant, digital-first takaful solutions,” said Shazy Noorazman, CEO of Ouch! Protect Berhad. “With the support of our investors, we’re poised to strengthen our technological capabilities and drive innovation in the digital takaful space. The sandbox extension and DITO licence will both be major game-changers, enabling us to offer even more personalised and accessible Takaful solutions for Malaysians.”

     

    A small percentage of the funds will also be earmarked as Ouch!’s reserve capital for BNM’s Sandbox testing and support for the DITO licence process, enabling Ouch! to offer a broader range of customised takaful products. Ouch! will continue to build on its growth with plans to initiate a subsequent fundraising round later this year to meet the minimum capital requirements for the DITO licence, reinforcing their commitment to advance the needs of Malaysian households and families.

     

    To find out more about Ouch!, please visit ouch.my or download their application from the Google Play Store and Apple App Store.

    About Ouch!

    Ouch! is an approved participant in the BNM Regulatory Sandbox dedicated to making Shariah-compliant family takaful more accessible to all Malaysians. As a comprehensive one-stop platform, Ouch! empowers users by providing education on coverage and risks, simplifying the purchase and management of digital takaful products, and streamlining the claims process. With Ouch!, financial protection is made easy and transparent, bringing peace of mind to every household. For more information, visit http://ouch.my/.

     

  • Social Enterprises: Proven, Effective Poverty Eradication Partners, Ready for Nationwide Rollout

    Social Enterprises: Proven, Effective Poverty Eradication Partners, Ready for Nationwide Rollout

    4 October 2024, Kuala Lumpur –

    Over the past five years, social enterprises have been working closely with the government to
    address absolute poverty in Malaysia, with rates has dropping from from 8.2% in 2021 to 6.2% in
    2022.

    Government initiatives including grants and programmes such as the MRANTI Impact Challenge
    Accelerator (MICA), Social Enterprise Accreditation certification and the zero-interest loans from
    the Hasanah Social Enterprise Fund (HSEF) and social procurement initiatives – are among the
    key instruments that have enabled social enterprises to grow and strengthen their offerings to
    serve the needy.

    For example, since 2019, accredited social enterprises such as Pepper Labs have been entrusted
    with piloting several B40 community projects – which have generated measurable, high impact.
    To date, Pepper Labs has re-invested over RM 7 million in social projects, impacting over
    4,000 beneficiaries. Over this period, we have grown to be a trusted partner and effective
    operator and a creative social innovator, bridging the gap between policy and grassroots
    economic enablement.

    Caption: Dapur Digital at PPR Wangsa Sari, refurbished with fully-fitted kitchen

    Dapur Digital: Cloud Kitchen Pilot Programme Ready To Scale Nationwide

    Recently, we rolled out a unique initiative called Dapur Digital – Malaysia’s first public-private-
    philanthropy project in partnership with the Ministry of Finance, Jabatan Wilayah Persekutuan,
    DBKL and Yayasan Hasanah.

    Dapur Digital’s pilot programme involves several aspects of economic enablement. In addition to
    refurbishing five PPR flats in Kuala Lumpur into cloud kitchens within six months, 50
    individuals have been trained with a Micro-Credential Programme on how to operate a cloud
    kitchen business. Each of the five Dapur Digital locales which have a high concentration of the
    urban poor, have been given a target of RM10,000 in monthly sales. Within a week from its launch,
    Kampung Limau Kitchen participants under the Dapur Digital programme made RM3,000 in
    business. Their products are promoted and delivered through three food delivery platforms –
    altogether making this a uniquely designed programme for transforming livelihoods.

    With Budget 2025 coming up, we would like to put forward some considerations to the
    government, given Dapur Digital’s potential to serve in closing the gap on poverty nationwide:

    1) Tax Incentives for Public-Private Partnership Investments
    a) Tax exemptions to GLCs or corporations which invest in social enterprises such
    as Dapur Digital which will enable it to scale to more locations, accelerate the
    equipping programme, while reaching and benefiting more underserved
    communities nationwide.
    b) Tax reliefs are extended to organisations and individuals making bulk
    purchases from Dapur Digital and other social enterprises which have
    demonstrated their capability and capacity to deliver to requirements. This
    provides a means for enterprises to track and report the impact of their social
    contributions – particularly with Scope 3 ESG reporting requirements already
    coming onstream.

    2) Social Procurement Acceleration
    The government could also include accredited social enterprises in its e-procurement
    database and list, particularly as Malaysia takes on the ASEAN Presidency in 2025, with
    an expected hike in commercial, tourism and social activities. Many social enterprises
    serve in these areas to equip and enable underserved communities.

    Stronger public-private-philanthropy partnerships and collaborations can turn the MADANI
    aspirations and RMK-12 goals into reality for the rakyat. We have demonstrated this is achievable,
    measurable, timely – and ready to scale.

     

     

  • ISKANDAR INVESTMENT BERHAD AND KILSA GLOBAL COLLABORATE TO UNLOCK SOUTHEAST ASIAN MARKET OPPORTUNITIES

    ISKANDAR INVESTMENT BERHAD AND KILSA GLOBAL COLLABORATE TO UNLOCK SOUTHEAST ASIAN MARKET OPPORTUNITIES

    Seoul, 30 September 2024 – Iskandar Investment Berhad (IIB) is excited to announce a
    strategic partnership with KILSA Global to accelerate the entry of Korean startups and small
    and medium-sized enterprises (SMEs) into Southeast Asia. This collaboration not only aims
    to position Medini and Iskandar Puteri as key hubs for Korean innovators but also to attract
    global talent, investment, and innovation to Johor, contributing to the state’s economic
    growth and development.

    IIB, a catalyst for the transformation of Iskandar Malaysia, continues to develop Medini as a
    sustainable urban hub with a focus on technology, innovation, and business services. Medini
    and Iskandar Puteri offer a robust ecosystem that supports cutting-edge industries. Situated
    just 45 minutes from Singapore, Medini’s connectivity will soon be further enhanced by major
    infrastructure projects like the Rapid Transit System (RTS), Autonomous Rapid Transit
    (ART), and the potential High-Speed Rail (HSR). These projects will strengthen Medini’s
    links to Singapore and other ASEAN markets, reinforcing its role as a key gateway for global
    investors and an ideal launchpad for Korean businesses in Southeast Asia’s market of over
    660 million people and a combined GDP of USD 3 trillion.

    Dato’ Idzham Mohd Hashim, President/CEO of IIB, stated, “Our collaboration with KILSA
    Global opens exciting new opportunities for Korean startups and SMEs to establish a strong
    presence in Southeast Asia, while contributing to the region’s economic growth. At IIB, we
    are committed to facilitating Korean businesses by providing comprehensive investment
    support, connecting them with key agencies like Invest Johor, Malaysian Investment
    Development Authority (MIDA) and Malaysian Development Economic Corporation (MDEC)
    for a seamless setup process. Through this partnership, we aim to foster a vibrant innovation
    ecosystem that encourages collaboration between Korean businesses, local industry
    players, and educational institutions. This will enable access to mentorship, networking, and
    talent development opportunities, ensuring Korean innovators have the resources,
    infrastructure, and networks to scale and succeed.”

    As a hub for innovation, Medini hosts strategic initiatives such as Tech Medini and GBS
    Iskandar @ Medini, where a multitude of multinational corporations have already established
    their presence. With over USD 30 billion invested in infrastructure, the city has become a
    thriving centre equipped with world-class facilities, making it an ideal location for businesses
    to scale in the region.

    KILSA Global is a Singapore-headquartered expansion service platform with a strong
    presence across Southeast Asia and Korea. The company specialises in helping businesses
    seamlessly enter global markets by offering localised expansion services and access to
    extensive regional networks. KILSA Global enables its clients to unlock diverse
    opportunities, establish a market presence, and accelerate growth with minimal investment.

    Mr. Philip Jongseok Park, Managing Director of KILSA Global, added, “This collaboration
    provides Korean businesses with a gateway into one of the fastest-growing regions in the
    world. With over 30,000 Korean SMEs actively seeking overseas expansion and contributing
    to more than 99% of Korea’s business landscape, Southeast Asia presents a significant
    opportunity. The region’s digital economy is projected to reach USD 300 billion by 2025, and
    we are excited to connect Korean startups and SMEs with the immense potential Medini and
    Iskandar Puteri have to offer, particularly in the technology and innovation space.”

    Through strategic initiatives like this, IIB is not only enabling business growth but also
    contributing to Johor’s transformation by attracting international talent, fostering innovation,
    and boosting local industries. IIB remains committed to building a sustainable and inclusive
    metropolis of the future in Johor.

    About Iskandar Investment Berhad
    Iskandar Investment Berhad (IIB) is a Catalyst of Change and a key player in Iskandar Malaysia’s
    transformation into a regional metropolis of international standing. Incorporated in November 2006,
    IIB is tasked to ensure that Iskandar Malaysia continues its successful trajectory into an attractive
    investment destination in Southeast Asia and a vibrant, liveable region of Malaysia via catalytic
    projects. IIB focuses on the development of Iskandar Puteri in the education, technology, ESG,
    tourism, entertainment, and health and wellness sectors. IIB’s impactful accomplishments include
    the successful joint ventures and investment partnerships in EduCity, LEGOLAND® Malaysia Resort,
    Iskandar Puteri, Medini and other infrastructure projects under the 9th Malaysia Plan in Iskandar
    Malaysia. IIB is committed to steering economic and environmentally sustainable growth in Iskandar
    Malaysia and ensuring inclusive developments for local Iskandarians through employment and
    income opportunities.

  • Pertama Digital Berhad Charts a Transformative Course: Key Strategic Partnerships and Growth Roadmap Unveiled

    Pertama Digital Berhad Charts a Transformative Course: Key Strategic Partnerships and Growth Roadmap Unveiled

    Kuala Lumpur, 3 October 2024 — Pertama Digital Berhad (“PDB”), a public-listed company at the forefront of Malaysia’s digital transformation, today provides a comprehensive update on its growth trajectory and strategic developments. While Executive Director Sabri Ab Rahman is unaware of the reasons behind the recent dip in stock prices, he assures stakeholders that PDB remains strong and well-positioned for sustainable growth.

    These developments reflect the company’s solid financial standing, strategic partnerships, and innovative product offerings as it enters its next phase of growth.

    Financial Fundamentals and Positive Trajectory

    PDB is firmly anchored by strong financial fundamentals, supported by a capable team operating in a dynamic digital solutions space with significant growth potential. In recent months, the company successfully reversed its previous quarter’s negative results, with new product lines making a marked contribution to performance.

    “We are proud to have moved into a positive trajectory, driven by our team’s hard work and the growing impact of our innovative digital offerings. We’ve also completed a strategic cost-cutting exercise and streamlined our operations to ensure healthy cash flow,” said Sabri Ab Rahman, Executive Director of Pertama Digital Berhad. “Today, PDB is operating more efficiently and is well-positioned to deliver sustainable growth without the need for external funding.”

    Regularisation Plan and Acquisition Opportunity

    PDB has received an extension of time (EOT) from Bursa Malaysia to submit its regularisation plan by the first week of February 2025. This extension allows PDB to finalise several key initiatives, including the proposed acquisition of a controlling stake in Kridentia Tech Sdn Bhd (KT). KT, a well-established company with strong government contracts, boasts impressive top-line performance, sound EBITDA, and consistent profitability.

    “This acquisition is pivotal for our growth projections for 2025. KT’s proven track record and capabilities align seamlessly with PDB’s vision, and we’re eager to finalise this deal as part of our broader regularisation plan,” Sabri explained. “We expect to submit the full plan before the end of this year, well ahead of the extended deadline.”

    Strategic Leadership and Organisational Strength

    As PDB charts its path forward, Sabri Ab Rahman has taken the helm as Executive Director, working closely with Joshua who played a pivotal role in developing the MVP for eJamin, the company’s flagship digital bail payment solution, which was launched in 2020.

    Reflecting on the company’s leadership developments, Sabri noted, “Our leadership team is stronger than ever. Recent changes at the board, including Encik Mohd Reza Mohd Hatta’s departure before his confirmation period to pursue a lucrative opportunity, were part of a strategic move to align our leadership with PDB’s evolving needs. We continue to drive forward with a dedicated core team, including Joshua and our board, ensuring strategic continuity and positioning the company for future growth.

    Product Highlights and Expansion

    PDB is rapidly advancing its suite of digital products, with several exciting developments on the horizon:

    • eJamin – The company is in the final stages of discussions with the Palace of Justice (POJ) to formalise a long-term contract for eJamin, a critically-needed digital bail payment platform. “eJamin has transformed bail payment in Malaysia, and we expect a positive outcome from POJ soon,” Sabri said.
    • KOCEK – DVSB is expanding its coin conversion service, KOCEK, across Malaysia. The company is close to finalising a working collaboration with a leading local bank to increase service touchpoints nationwide.
    • MyPay as a Business Solution – DVSB recently signed a Memorandum of Understanding (MOU) with Gabungan Persatuan-Persatuan Penjaja dan Peniaga Kecil Melayu Malaysia (GPPPPKMM) ,representing 450,000 small traders and hawkers. Through MyPay, these members will gain access to digital business tools, financial assistance, and grants for business expansion, developed in partnership with financial institutions. “This partnership empowers small business owners across the country, helping them embrace digital transformation and gain access to financial support,” Sabri highlighted.
    • PTPTN Student Loan Services – MyPay continues to be a trusted platform for PTPTN loan repayments, and DVSB is in discussions to further expand this mutually beneficial relationship. Recent enhancements have improved the platform’s user experience, streamlining loan repayment for borrowers.
    • MyDigital ID – PDB, through DVSB, is actively assisting MyDigital ID in improving their existing product by enhancing user experience and ensuring seamless integration with high-traffic government agency platforms. Furthermore, PDB is supporting MyDigital ID in their onboarding efforts for the public, government and private businesses, reinforcing our commitment to driving digital inclusion.

      A Transformative Future for Pertama Digital Berhad

      As Pertama Digital Berhad navigates this transformative period, the company is committed to delivering long-term value for shareholders and the broader ecosystem. Sabri Rahman emphasised, “Our roadmap for growth, operational efficiency, and stakeholder value is clear. PDB is well-positioned to lead the digital solutions space in Malaysia, with innovation and inclusivity at the core of everything we do.”

      PDB remains dedicated to driving sustainable results through its strategic partnerships, innovative product portfolio, and continued operational excellence.