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Over 600 Startups to Ignite Collaboration at the India-ASEAN Startup Summit 2023

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In a joint effort by Malaysia and India to foster a robust startup ecosystem across the two nations and the broader ASEAN region, more than 600 local and international startups will converge in the inaugural India-ASEAN Startup Summit (IASS) 2023 from 12 to 13 December 2023 at the Sunway Pyramid Convention Centre.

A pioneering initiative by DEWI Wealth Accelerator, IASS 2023 is an opportunity for startups to showcase their groundbreaking ideas and solutions. With its focus on innovation, collaboration, and women empowerment, the summit will witness the participation of 50 local and international investors as well as 100 startup hubs, accelerators, and government agencies, including Startup India, Invest India, MDEC, and MDV.

Datin Malliga Subramaniam, founder of DEWI Wealth Accelerator, highlighted the exceptional opportunities the summit will present for Malaysian startups to delve into the extensive potential of cross-border collaborations with their Indian counterparts.

“At IASS 2023, we are excited to create a platform where Malaysian startups can gain insights from India’s thriving digital technology ecosystem. India’s expansive market and favourable incentives for businesses in emerging sectors offer a fertile ground for innovation. This summit will open doors for Malaysian startups to benefit from the Indian market, fostering a reciprocal exchange of ideas and strategies. We are setting the stage for a dynamic collaboration where startups from both regions can leverage on each other’s strengths, driving growth and innovation in the digital technology sphere.This event is about empowering entrepreneurs and catalysing growth across borders,” she stated.

A special focus of the summit is to empower women-led startups, addressing unique challenges and opportunities in this sector. “Our dedication goes beyond mere representation; we aim to create a nurturing and supportive environment tailored specifically for women entrepreneurs. We understand that women often encounter distinct hurdles in their entrepreneurial journey, and our summit is designed to address these issues head-on,” elaborated Datin Malliga.

 

She further added that this focus aligns with the broader goals of the summit to foster a diverse and inclusive startup ecosystem where all entrepreneurs, regardless of gender, can succeed and contribute to regional economic growth and innovation.

Highlighting the strategic importance of the summit in enhancing India-Malaysia relations, H.E. BN Reddy, the High Commissioner of India to Malaysia, emphasised the role of the IASS 2023 as a cornerstone for fostering economic and innovative ties between the two nations.

“India and Malaysia enjoy growing trade and investment ties. Bilateral trade has reached US$20 billion in FY 2022-23. Two-way investments have been growing significantly. Indian startups have been successfully expanding into Malaysia and further into the ASEAN region. Indian startup companies such as Oyo, Perfios, Pine Labs, Razorpay are now well-established in Malaysia and are exploring opportunities in the Southeast Asia region that presents a big opportunity,” he said.

He added that Malaysian startups can benefit from India as the latter offers a large market and several incentives for doing business in new and emerging sectors and is an optimal environment for tech startups to thrive.

“India has the third largest startup ecosystem in the world with a consistent annual growth of 12-15%. At present, there are over 115,000 startups in India recognized by the Government of India with 110 startup unicorns (with valuation of over US$ 1 billion). Indian startups are actively collaborating with Malaysian startups, for example, Razorpay – the leading fintech player in India has been working with Curlec (a Malaysian startup) and has acquired a majority stake in it. Curlec is now a leading player in the B2B digital payments space and has recently joined Paynet as a direct member with plans to expand significantly in Malaysia and into the ASEAN region. We believe IASS 2023 is setting the stage for more successful startup collaborations like these,” he added.

YB Adam Adli, Deputy Minister of Youth & Sports, advocates for such international collaborations, stating that cross-border events like the IASS 2023 are pivotal in encouraging entrepreneurial growth and innovation and vital for the holistic growth of our startup ecosystem.

“The Indian ASEAN Start-up Summit serves as a catalyst for collaboration and cooperation between India and Malaysia. By establishing a framework for start-ups in both countries, we can create a solid foundation that will allow entrepreneurs to leverage the potential of Malaysia as a springboard to expand into the ASEAN region and beyond,” he said.

The summit is backed by partners from both Malaysia (such as Malaysia Digital Economy Corporation,Malaysian Investment Development Authority, Malaysia Debt Ventures, Majlis Belia Malaysia, Beyond4, SME Corporation, the Sunway Group, PubliCT.io and NisaBakri Gourmet) and India (including Ministry of Science & Innovation, Ministry of Commerce, India ASEAN Chamber of Commerce, Startup India and Invest India).

The event will feature keynote speeches by industry leaders, panel discussions, and networking sessions designed to foster collaboration and growth. Some notable speakers include  YB Senator Saraswathy Kandasamy – Deputy Minister of Entrepreneur and Cooperative, Sam Shafie, Co-Founder of PitchIN, Yeoh Chen Chow, Co-Founder of Fave, Chintan Vaishnav, Chair, G20 Startup India,Rahul Narvekar, Founder CEO – The India Network/Serial Entrepreneur / Investor amongst others. Topics like funding mechanisms, market access, and branding will be explored, along with discussions on cross-border expansion strategies.

The summit is also co-organized by INPUT STRATEGY and COEXRT. For more information about the IASS, please visit https://www.startupsummitasia.com/

Ravi Vamathevan: Connecting Migrants, Changing Lives – The Valyou Sdn Bhd Story

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In the dynamic world of telecommunications, where giants and pioneers battle for supremacy, there are a few visionaries who stand apart. Among them is Ravi Vamathevan, the charismatic CEO of Valyou Sdn Bhd, whose journey through the industry is nothing short of legendary. As we delve into the fascinating story of Ravi and Valyou, we discover the inspiring tale of a man who not only founded Malaysia’s pioneering telco but also changed the lives of millions of migrants along the way. Valyou is a wholly owned subsidiary of Merchantrade Sdn Bhd, that now drives the MVNO business since transfer in 2022.

 

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The Birth of Inclusive Telco services: Connecting Migrants with Dreams

Imagine leaving your homeland behind in search of better opportunities, only to find yourself miles away from family and friends, disconnected from the world you once knew. This is a reality for millions of migrants in Malaysia, a country known as one of the largest migrant-receiving nations in Southeast Asia.

In 2003, Ravi and his co-founder, Ramasamy K. Veeran, embarked on a journey that changed the telecommunication landscape in Malaysia. Their vision started off with the procurement of an Application Service Providers (ASP) license, which paved the way for Merchantrade’s entry into the telecommunications market. In just two short years, from 2003 to 2005, they established approximately 5,000 nationwide shops known as ‘Warong Talipon’ allowing customers to make voice calls.

Subsequently, Merchantrade Mobile emerged, offering affordable prepaid SIM cards, data, and calls. By 2007, the company became Malaysia’s first Mobile Virtual Network Operator (MVNO) under Celcom (now known as CelcomDigi).

A Blue Ocean Strategy: Venturing into an Untapped Market

In a highly competitive telco landscape dominated by industry giants like DiGi, Celcom (now Celcom and Digi have merged and known as CelcomDigi), Maxis and U Mobile, Ravi embarked on a unique journey, showcasing sharp market acumen and a profound understanding of industry dynamics. They discerned an opportunity within a rapidly expanding market that no other telco had dared to explore.

At a time when Malaysia’s economy was witnessing a significant influx of migrant workers and stood out as a country in the Asia Pacific region with a high ratio of migrants to the total population in 2008, this vast underserved segment remained largely ignored by the telecom giants. However, Merchantrade possessed the foresight to recognize the immense potential hidden within this untapped segment. The strategic move by Ravi was a striking departure from the industry norm, driven by their entrepreneurial-thinking, and foresight led them to become the pioneers in this segment.

In 2015, they reached a significant milestone by achieving a subscriber base of 1 million customers. Ravi’s determination to provide connectivity to underserved migrants had borne fruit and the decision to focus on a niche segment proved to be a success. In 2015 to 2016, the company was at the peak of its glory days.

Ravi Vamathevan: A Telecom Titan’s Journey

Ravi’s extensive experience in the telecommunications industry played a pivotal role in Valyou’s success. With 30 years of telecom expertise, his journey began with Maxis (formerly known as Binariang Sdn. Bhd) during its startup phase. Ravi was instrumental in launching Maxis’ international gateway business, which was once valued higher than the mobile business. He also secured Maxis’ first interconnect agreement.

Thereafter, Ravi ventured to the United States, joining Pacific Gateway Exchange Inc., a Nasdaq-listed company based in San Francisco. He then moved on to iBasis, a pioneering VoIP company, where he served as the Director of the South East Asia region.

In 2014, Ravi returned to the company with renewed vigour, focusing on its growth. His extensive background in telecommunications and leadership in the VoIP sector laid the foundation for Merchantrade’s venture into the VoIP business. His journey from a startup to leading Valyou showcases his indomitable leadership and commitment to making a difference.

Ravi’s passion for startups, entrepreneurship, and leadership is truly remarkable. Throughout his illustrious career, he has demonstrated an uncanny ability to spot opportunities, challenge the status quo, and transform innovative ideas into thriving businesses.

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Navigating the Storm: Long term business growth vs. short-term gains

Merchantrade Mobile’s venture into the migrant segment proved highly profitable. In 2017, as the Malaysian customer base reached saturation, larger competitors began to penetrate the migrant segment, triggering aggressive price wars.

These competitors, leveraging their substantial financial resources, entered the market with an aggressive approach to acquire customers and gain market share. Additionally, migrant workers, known for their cost sensitivity, frequently switched between service providers, resulting in a significant decline in our subscriber base, which had previously boasted over one million users.

Despite facing pressure from various stakeholders and the looming possibility of phasing out the business, Ravi remained steadfast in his belief that this was a cyclical phase, and that competing in price wars was not sustainable. He made the bold decision to stay in the market and weather the storm until stability returned. Instead of engaging in direct price competition with our rivals, our strategic focus shifted to maintaining long-term growth and profitability and resilience during this turbulent period.

In contrast, Ravi and his team embraced a different approach. They prioritized the development of a sound and profitable business model, emphasizing cost control and efficient operations to keep customer acquisition costs low while maintaining the delivery of quality services.

Covid-19: Resilience Amidst Adversity

The COVID-19 pandemic brought about unprecedented challenges for the company. As borders closed and restrictions were imposed, a large number of migrant workers chose to return to their home countries due to uncertainty and health concerns. Moreover, with restrictions in place, new migrants were unable to enter the country, further impacting the potential customer pool. This mass exodus, combined with the influx of new competitors in the migrant segment, set the company back. Nevertheless, Ravi’s determination remained unwavering, as he envisioned the company making a strong comeback when the opportune moment arrives.

Strategic Decisions and Growth Trajectory: Charting a Comeback

In September 2020, Merchantrade acquired a 100% stake in Valyou from the Norwegian Telenor. Then, in April 2022, the MVNO business transitioned from Merchantrade to Valyou. This strategic move aimed to enhance both companies’ focus, facilitate agile decision-making, and improve customer experiences for specific segments. With this transition, both companies are better positioned to capitalize on their distinct market positions and priorities.

Ravi’s decision to make a resurgence in the market was strategically timed to align with the market’s stabilization following the price wars and the impact of COVID-19. The first order of business was a comprehensive rebranding exercise and a thorough revamping and enhancement of their existing plans and packages, marking a significant step in the right direction. Through extensive on-ground surveys and focus group studies, Valyou aimed to ensure that their plans and packages were competitive enough in the market to regain market share from competitors.

Valyou’s Range of Products and Services: Bridging the Connectivity Gap

Valyou’s HelloSIM offers comprehensive coverage and high-speed services across Malaysia, with attractive data packages starting at just RM5, tailored to customers’ needs. Their product range includes prepaid SIM cards, data plans, International Direct Dialling (IDD), and domestic calls.

Its partnership with CelcomDigi, one of Malaysia’s leading telco companies, ensures customers can enjoy nationwide coverage, excellent call quality across borders, and high-speed mobile data.

Their mission aligns with UNSDG No. #10, “Reduced Inequality,” as they focus on serving underserved segments, particularly blue-collar migrant workers. By providing affordable and accessible telecommunications services, Valyou significantly contributes to reducing inequality and promoting inclusivity.

A Distinctive Customer Base: Awareness and Education

Valyou’s primary focus was on serving the blue-collar migrant segment, a customer base with unique challenges and requirements. Marketing and selling to this segment present language barriers, limited tech-savviness, and the need for additional education and support. To address these challenges, the company offered diverse plans and packages, along with well-informed sales personnel capable of effectively engaging and educating customers. Different marketing strategies are employed to acquire these customers while adhering to regulatory requirements.

Valyou has over the years built the right infrastructure and invested in the expertise necessary to effectively serve this segment. Their commitment to serving and educating this customer base has been unwavering.

Adapting and Innovating to remain customer-centric

The COVID-19 pandemic accelerated the shift towards digitalization, prompting Valyou to proactively embrace digital technology in its product and service offerings. Their differentiation strategy revolves around leveraging technology, data analytics, and a deep understanding of customer behaviour to tailor products to specific needs.

Valyou’s commitment to enhancing customer experiences extends beyond acquisition. They plan to introduce new offerings that facilitate topping up family mobile phones, online shopping, bill payments, and more, all within a single platform. This comprehensive ecosystem enhances the overall value and convenience for customers, fostering closer collaborations with local and international partners to consistently offer the best products and services.

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A Bright Future Ahead

Since January 2021, Valyou has experienced remarkable growth, with subscriber numbers increasing 2.1 times and revenue rising 2.8 times for the same period. With their cutting-edge services, extensive expertise, and a track record spanning over two decades in serving the migrant worker market, Valyou is positioned for substantial growth.

As Ravi Vamathevan leads Valyou, he envisions the company continuing to be a resilient digital enabler, particularly for their target segments. The company’s outlook is optimistic, with expectations of achieving 4x to 5x growth in the coming years, solidifying their position as the preferred choice among the migrant segment.

How the legacy began 

Ravi Vamathevan’s incredible journey in the telecommunications industry didn’t start with Valyou; it began even before the telecom giant Maxis got its name. In those early days, when the telecommunications industry had an oligopolistic structure, with the international telecommunication gateway largely dominated by Telekom Malaysia and a few other major players in the market, Ravi saw an opportunity to challenge the status quo.

It was a time when the telecommunication landscape was still evolving, and the potential for growth was immense. Ravi’s vision was to provide an alternative to the existing telecommunication infrastructure, one that would offer innovative solutions and greater connectivity for the people of Malaysia.

Determination and Perseverance: A Vision Realized

The path to establishing an alternative telecommunications gateway was not an easy one. Ravi faced numerous challenges and hurdles, both regulatory and operational. But his determination and unwavering commitment were unparalleled. He was driven by the belief that telecommunications services should be inclusive, and he strived to create a level playing field that would ultimately benefit the customers by providing the best possible services.

This pursuit involved forging strategic partnerships, navigating complex regulations, and pioneering new technologies. He worked tirelessly to build the infrastructure and networks necessary to compete with established players in the industry. It was a journey that required not only technical expertise but also a deep understanding of market dynamics and customer needs.

The Legacy Lives On: Valyou and Beyond

Ravi Vamathevan’s journey in the telecommunications industry has been marked by innovation, determination, and a deep passion for connecting people. His early career laid the foundation for his future endeavours, including his pivotal role in Valyou. Yet, Ravi’s story is not just about building telco companies; it’s about transforming industries, building sustainable businesses, and making a profound impact on millions of lives.

Championing Entrepreneurship and Sustainable Business Growth

In a world where many companies are tempted to cast a wide net to attract a broad customer base, Valyou’s strategy of laser-focused service and support for their specific segment is not only innovative but also deeply impactful. The key takeaway is that maintaining competitiveness hinges on the ability to pinpoint and leverage a distinct competitive advantage.

A Remarkable Career Dedicated to Innovation, Inclusivity, and Connectivity

Today, as Valyou looks ahead to a future of substantial growth and continued innovation, Ravi Vamathevan’s indomitable spirit and unwavering commitment to his vision remain unshaken. His story serves as an inspiration to all those who seek to make a difference in the world of telecommunications and beyond.

Ravi and Valyou’s journey not only reflect the power of vision, innovation, and unwavering commitment but also the transformative potential of entrepreneurship and niche-focused strategies. They have not only connected migrants with their dreams but have also reshaped the telecommunications landscape in Malaysia. As Valyou continues to grow and innovate, it’s clear that Ravi Vamathevan’s legacy in the industry is far from over, and the impact of Valyou on the lives of millions is immeasurable.

ARVIA honoured with the ‘Most Trusted Brand Award’

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In a grand ceremony at The St. Regis Kuala Lumpur, ARVIA, the prominent brand of Israk Solutions Sdn. Bhd., a leader in audiovisual technology, was honoured with the ‘Most Trusted Brand’ award at the Islamic Distinguished Entrepreneur Award (IDEA Award) 2023. This prestigious award underscores ARVIA’s commitment to maintaining high standards of excellence and its positive influence within the community.

As the brand behind a range of AV innovations, including Interactive Smartboards, Digital Signage solutions, Video Conferencing, and Smart Classroom solutions, ARVIA is recognized for setting benchmarks in technological excellence. The brand’s dedication to quality and innovation has firmly established its reputation as an industry leader.

Expressing his pride, Ahmad Najib Habeb, CEO of Israk Solutions Sdn. Bhd., stated, “Receiving this award is a reflection of ARVIA’s dedication to quality and our commitment to enhancing our community. It symbolises our promise to uphold the highest standards and reflects our efforts in advancing technology and education accessibility for a better future.”

The award was presented by Datuk Seri Haji Ahmad Maslan, Deputy Minister of Finance 1, in an event that attracted significant media attention, showcasing the rigorous selection process implemented by a distinguished committee and board of advisors. The IDEA Award’s high standards involve thorough business, governance, and financial assessments conducted by appointed auditors, reflecting the award’s prestige.

ARVIA’s distinguished recognition highlights Israk Solutions Sdn. Bhd.’s influential presence in the audiovisual industry and its unwavering commitment to superior quality standards. Adhering to ISO 9001 and MS 1900 Shariah Compliance certifications, ARVIA, registered and trademarked under the Malaysian Intellectual Property Corporation, stands as a testament to top-tier quality in audiovisual technology.

Proven Solutions, Trusted by Clients! Since 2010, Israk Solutions has been at the forefront of delivering state-of-the-art solutions across Malaysia, earning the trust and recognition of an impressive portfolio of clients. Committed to providing quality products and services, Israk Solutions boasts vast industry experience and has successfully executed numerous projects for various sectors, including government projects, GLCs, private companies, universities, and schools. Some of the noteworthy mission-critical projects have been undertaken for prestigious clients such as Mindef, PDRM, SPRM, LHDN, TNB, DRB Hicom, Mahsing, Ecoworld, SP Setia, UKM, UUM, and many more.

Hosted by Muslim Insiders, the IDEA Award seeks to empower and inspire the Muslim economy and community. It celebrates the extraordinary achievements of Muslim entrepreneurs and businesses, offering networking opportunities and raising awareness of the significant contributions of Muslim enterprises to the global economy.

For more information about Israk Solutions Sdn. Bhd., their esteemed brand ARVIA, and their dedication to quality standards and community well-being, please visit www.israk.my.

Exploring the Ethics of Artificial Intelligence and Machine Learning

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Artificial Intelligence and Machine Learning (AI & ML) have continued to shape the future, making ethical considerations surrounding these technologies increasingly important. On November 8, 2023, the MFPC Virtual Platform (Hubilo) played host to the “Virtual Industry: Professionalism & Ethics Forum 2023,” centered around the theme “Ethical Considerations in Artificial Intelligence & Machine Learning.” This comprehensive event brought together renowned speakers, experts, and a thought-provoking roundtable discussion, providing invaluable insights into the evolving landscape of AI & ML ethics.

Mr. Andy Ng Yen Heng, President of the Malaysian Financial Planning Council (MFPC), eloquently summed up the forum’s essence by stating, “I believe that our ‘Virtual Industry: Professionalism & Ethics Forum 2023’ has illuminated the path toward a future where Artificial Intelligence and Machine Learning thrive alongside human values and ethics, shaping a better world for all.”

The forum commenced with an engaging session that delved into personal perspectives on AI & ML. Mr. Shamsul Izhan Abdul Majid, Chief Technology and Innovation Officer of the Malaysian Communications and Multimedia Commission (MCMC), a highly respected figure in the industry, shared his insights on how individuals perceive AI and ML. This session was an opportunity for attendees to explore and discuss their own understanding and perceptions of these transformative technologies during the subsequent Q&A.

Following this, Mr. Ahmad Fairuz Ali, Head of Data Science at Bank Islam Malaysia Berhad, provided valuable insights into the corporate world’s experiences with AI & ML and the ethical challenges that have emerged. The ensuing Q&A session encouraged participants to delve deeper into the ethical solutions adopted by businesses to address these challenges.

The third session featured Prof. Ts Dr. Yau Kok Lim, who took the virtual stage to discuss how humans and AI can coexist harmoniously. As a Professor at Universiti Tunku Abdul Rahman (UTAR), his academic perspective added depth to the crucial discussion on how to work together with Artificial Intelligence without humans being replaced. The Q&A session that followed allowed attendees to explore strategies for maintaining human relevance in an increasingly automated world.

The Round Table session served as the forum’s centerpiece, with Mr. Raevendren Ramachandran, Co-Founder of Cashku, moderating a discussion that featured prominent industry leaders and experts. Panelists, including Mr. Desmond Foo, Director, Head of Data, Analytic, and AI at AIA Bhd, Mr. Goh Joon Koon, Head of IT for Malaysia and Singapore at Principal Malaysia, and Ms. Adilah Junid, Director of Legal & Government Affairs at Microsoft Malaysia, shared their real-world experiences, insights, and perspectives on the ethical considerations within their respective domains. This interactive session, followed by a Q&A, allowed participants to engage directly with the panelists, providing a deeper understanding of the practical aspects of AI & ML ethics.

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The forum concluded with closing remarks from Mr. S.K. Samy, Chairman of the Ethics and Compliance Board at the Malaysian Financial Planning Council (MFPC). His remarks underscored the critical importance of ethics in the implementation and deployment of AI & ML technologies, offering attendees valuable takeaways from this insightful event.

In a rapidly evolving world where AI & ML continue to transform industries, this forum provided a deeper understanding of the ethical considerations necessary to navigate the ever-changing landscape. Participants had the opportunity to explore personal perspectives, corporate experiences, and strategies for harmonious collaboration between humans and AI, ensuring that these transformative technologies serve the greater good while upholding ethical standards.

International Alliance of Young Entrepreneurs Associations (IAYEA) Ignites Global Entrepreneurship in Zhongshan

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The International Alliance of Young Entrepreneur Associations (IAYEA) held its first plenary session from September 24 to 26 in Zhongshan, Guangdong Province, setting a momentous milestone for global young entrepreneurship around the world to come together bringing possibilities for global economic recovery and trade collaborative innovation in this meeting. With participation from founding members, prospective members, young entrepreneurs, and observers’ representatives from 29 countries and regions, this historic event showcased the immense potential for international collaboration in the entrepreneurial landscape.

IAYEA, a beacon for young entrepreneurs worldwide, was founded with a vision of promoting global networking and knowledge exchange to empower and inspire young business leaders. The choice of Zhongshan as the host city underscores the city’s dynamic and innovative spirit, serving as a living testament to the power of entrepreneurship in transforming economies.

Notably, the plenary session marked a significant moment as it elected its first presidency. Deborah Melissa Bottreau from Malaysia, a prominent young entrepreneur, and Secretary General of the ASEAN Young Entrepreneurs Council, was appointed as the first IAYEA President. During an interview in Zhongshan, she emphasized the vision of fostering synergistic collaboration among countries and regions within IAYEA to enhance their economies and empower young entrepreneurs.

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MAYA Team- L-R- Ellice, Deborah, Daniel, Elvira, Adil

Key Highlights of the Plenary Session:

Diverse Participation: The event saw an impressive turnout with representation from 29 countries including Malaysia and regions, fostering a rich tapestry of ideas and experiences.

Strategic Discussions: Strategic discussions and workshops delved into critical aspects of entrepreneurship, global economic recovery, providing actionable insights and strategies for budding and established young entrepreneurs alike.

Global Networking: Entrepreneurs embraced the opportunity to forge global connections, setting the stage for future collaborations and partnerships.

Empowering Youth: IAYEA remains steadfast in its mission to empower young entrepreneurs, as inspiring talks and panel discussions laid out a roadmap for success.

Cultural Exchange: The plenary session also celebrated cultural diversity, promoting understanding and appreciation among participants.

Vision for the Future: The plenary session concluded with a shared vision for the future of IAYEA, poised to shape the global entrepreneurial landscape for young individuals.

This historic gathering has set the stage for IAYEA to become a pivotal player in the global entrepreneurship ecosystem, empowering young entrepreneurs and fostering positive change on a global scale.

IAYEA’s mission is clear: to inspire and empower the next generation of business leaders, bridging cultural boundaries, and fostering innovation worldwide. With the success of the first plenary session in Zhongshan, the future of IAYEA and global entrepreneurship has never looked more promising.

VCI Global’s Conference Decodes Successful US IPO Strategies

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VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, or the “Company”) organised the “IPO Conference 2023” which was held at Grand Hyatt Kuala Lumpur from 25 to 26 October.

In line with the conference theme of “Journey to US Capital Market”, the key objective of the conference was to serve as a platform for companies, investors and industry professionals alike to gain in-depth knowledge on how to execute successful initial public offerings (“IPOs”) in the US capital market.

During the conference, which was attended by over 200 attendees, participants were given insights to the US capital market’s dynamics and opportunities, current capital market trends and cross border listing in the US, amongst others, by prominent speakers and panellists. The speakers and panelists include Tony Tian, Head of Capital Markets, US Tiger Securities; and Drew Bernstein, the Co-Chairman of Marcum Asia CPAs LLP, to name a few.

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From Left to right : Datin Karen Liew, Executive Director of VCI Global Limited; Dato’ Victor Hoo, Group Executive Chairman & CEO of VCI Global Limited; Tony Tian, CFA, Head of Capital Markets of US Tiger Securities, Inc.; Dato’ Vincent Hong, Executive Director of VCI Global Limited

The congregation of such esteemed personalities provided a platform for the participants, who were C-suite and board members of listed companies globally, to foster strategic connections.

Some of the more prominent sponsors of the conference include US Tiger Securities, Boustead Securities, Hunter Taubman Fischer & Li LLC, Marcum Asia CPAs LLP, Sichenzia Ross Ference Carmel LLP, Winston & Strawn and Ortoli Rosenstadt Ye LLP.

“We are pleased that the conference is well received and more importantly fulfilled its purpose of providing the investment community insights of the US capital markets. On behalf of VCI Global, I would like to thank all the sponsors who undoubtedly contributed to the success of this conference,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.

For more information on the Company, please log on to https://v-capital.co/.

Datuk Sri Dr. Shamir Kumar Nandy Bestowed With Lifetime Achievement Award

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During the 10th Anniversary McMillan Woods Global Awards, held at the Shangri-La Hotel, Executive Chairman of GV Corporate Advisory, Datuk Sri Dr. Shamir Kumar Nandy was bestowed with the Lifetime Achievement Award for Extraordinary Leadership of the Year. This prestigious accolade is presented to individuals who have made exceptional contributions to their respective industries, leaving a lasting impact on the global economy. It serves as a testament to their unwavering dedication, hard work, and visionary leadership.

Throughout a distinguished career spanning over three decades across diverse industries and business sectors, his vision and extensive experience in structured and alternative finance have played a pivotal role in driving global growth and recognition. His contributions have led to the establishment of diversified business entities and economic opportunities.

Notable recipients of the McMillan Woods Global Awards in previous years include figures such as Georgina Hope Rinehart, Executive Chairman of Hancock Prospecting, and Datuk Sri Siti Nurhaliza Tarudin, a renowned singer, actress, and entrepreneur. International movie stars like Jackie Chan, Ron Ng, and Tavia Yeung have graced the awards ceremony in past editions.

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About Datuk Sri Dr. Shamir Kumar Nandy

Datuk Sri Dr. Shamir is a distinguished entrepreneur known for his innovative and disruptive approach to business. His ventures encompass a wide array of sectors, including asset management, property development, legal and financial services, and innovative investment structuring.

He is renowned for his exceptional business acumen, demonstrating unwavering determination and an innate ability to identify opportunities and synergies that drive value creation for his conglomerate and esteemed partners. His expertise in structured and alternative finance has been a key driver behind the global expansion and recognition of his diverse business ventures.

He holds full licensure from the Financial Conduct Authority (FCA) of the United Kingdom and previously led Moncial Limited, a UK-based FCA-licensed financial services firm.

Datuk Sri Dr. Shamir brings together over a century of collective experience spanning diverse economic domains. His leadership shines as a beacon, guiding the way toward innovative growth and enduring success.

Maybank Asset Management Launches AI-powered, Shariah-compliant Discretionary Portfolio Mandate with Arabesque AI.

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Maybank Asset Management Sdn Bhd (“MAM Malaysia”) has launched a Shariah-compliant, AI-powered Hyper-Customised Discretionary Portfolio Mandate (“DPM”), setting a new standard in the Malaysian investing landscape.

This partnership between MAM Malaysia and Arabesque AI marks a significant leap forward for Shariah-compliant investment solutions for Maybank Islamic Wealth Management’s High-Net-Worth investors in Malaysia.

The offering provides an AI-driven approach to Shariah-compliant investing, achieved through a strategic collaboration with Arabesque AI, a leading investment advisory and technology company. Arabesque AI combines proprietary AI-driven alpha assessment with market-leading ESG data to deliver personalized and values-driven portfolios, at scale.

Arabesque AI uses the computational power of AI to provide fully active asset management, calculating expected returns for at least 25,000 listed equities using both financial and non-financial datasets, offering investors an unparalleled level of data-driven insights.

This partnership empowers investors to access Arabesque AI’s cutting-edge technology platform. The platform enables asset managers and investment professionals to craft hyper-customized Shariah-compliant portfolios, personalizing them to each investor’s unique preferences and objectives at a faster speed, as well as portfolio monitoring and rebalancing.

Ahmed Muzni, Chief Executive Officer of MAM Malaysia, commented, “In the ever-evolving landscape of asset management, innovation continues to be a driving force behind the transformation of investment offerings. The launch of our hyper-customized DPM puts us in a prime position to deliver cutting-edge Shariah-compliant investment opportunities to investors.

“Investors increasingly seek tailored investment insights and strategies that reflect their goals and values. By leveraging Arabesque AI’s platform, investors can now incorporate these factors seamlessly into their portfolios,” he added.

Omar Selim, CEO of Arabesque Group, commented, “Arabesque’s DNA is rooted in Islamic finance, and a decade ago, we set out with the vision to pioneer this space. Sustainable, responsible, and Islamic investment principles are all based on financial moderation and common sense. We firmly believe in the convergence of sustainability and technology as the driving force for a more sustainable future.

“It’s no longer sufficient for investments to yield returns; we must scrutinize how they’re generated. Arabesque leads the sustainable finance revolution, leveraging AI, ESG data, and digital technology. In a world where investors prioritize societal impact and values, the true power of AI lies in crafting highly personalized portfolios down to the individual stock level. This values-driven shift reshapes finance for a more sustainable future. We are delighted to have pioneers like MAM Malaysia use our technology to deliver high-performing, customized portfolios aligned with individual values, forging a future where finance is both profitable and purposeful.”

Dato’ Mohamed Rafique Merican, Chief Executive Officer of Maybank Islamic Berhad, said, “Maybank Islamic is committed to providing innovative and tailored solutions that meet the unique needs of our clients in the realm of Islamic wealth management. The launch of this hyper-customized portfolios solution by MAM Malaysia underscores our unwavering intention to deliver Shariah-compliant investment options that align with our clients’ financial objectives and are guided by ethical principles. This new offering marks an important milestone for Islamic wealth management, where cutting-edge technology and ethical finance converge to provide our clients with unparalleled customization and superior potential returns.”

The Hyper-Customized DPM is exclusively available at Maybank branches nationwide. For more information, please contact Maybank Asset Management’s Client Services.

2023 Investor Day of icapital.biz Berhad (ICAP, 5108)

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icapital.biz Berhad’s annual Investor Day has long been a celebrated event in the financial world. With a strong commitment to empowering investors and fostering a better investing community, this year’s event promises to be nothing short of remarkable. The 2023 edition, scheduled to be the most innovative yet, brings together a lineup of accomplished speakers to share their insights and expertise.

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About the event

To be held on Sunday, 5 November 2023 at the KL Convention Centre, the 2023 Investor Day of icapital.biz Berhad will feature three program tracks. Track 1 is for experienced investors and will include presentations from key management of public-listed companies including OCK Group, Unisem, Kelington Group, MKH, APM Automotive, Hibiscus Petroleum, and EUPE Corporation. A top finance lecturer from the University of Technology Sydney will present an independent assessment of  icapital.biz Berhad’s net asset value and share price performance in Track 1. Mr. Tan Teng Boo, the Designated Person of icapital.biz Berhad, who is also the visionary behind this only listed closed-end fund on Bursa Malaysia, will also present his longer-term investment outlook through a very rare integrated multi-sector case study under the title “Why Now is the Right Time to Invest in Malaysia”, which is also the theme of the 2023 Investor Day.

Track 2, designed for would-be investors, will involve distinguished speakers discussing principles of compounding, stock-picking strategies, economic literacy, financial independence, and how to become a successful investor. To name some of the distinguished speakers: Dr. Selina Dang and Felix Neoh, both are licensed financial planners; Hann Liew, co-founder of Ringgitplus; Noor Amy Ismail, COO of MAVCAP; Lee Swee Lin, Forbes 30 under 30 Entrepreneur; and Capital Dynamics team of fund managers and analysts.Track 3 is the i Capital Talent Show, where talented university students will present creative performances. The event aims to educate the public about sound investing practices and promises to be a valuable and insightful experience for participants.

The annual Investor Day of  icapital.biz Berhad is not merely an event; it’s a testament to the company’s commitment to empowering investors and fostering a better global community. This year’s edition, scheduled to be the most innovative yet, brings together a lineup of accomplished speakers who, through their insights and expertise, highlight the strengths and benefits of this remarkable event.

Strengths and Benefits of 2023 Investor Day of icapital.biz Berhad

Diverse Speaker Lineup

The event boasts a diverse lineup of speakers, each representing a unique facet of the financial industry. From CEOs of thriving corporations to senior finance lecturers and industry experts, attendees gain insights from a wide spectrum of voices.

Comprehensive Learning

Investor Day offers a holistic view of investment-related topics. From understanding stock picks and market strategies to principles of compounding and economic literacy, participants receive a comprehensive education on investment.

Panel Discussions

Panels such as “Death by F.I.R.E.” (Financial Independence, Retire Early) and “All is Fair in Love and Career: How choosing a Career is Similar to Choosing a Spouse” offer well-rounded discussions, enabling participants to engage with experts and gain insights into how one should plan for their finance and career.

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About icapital.biz Berhad

icapital.biz Berhad exists for one simple reason: to allow long-term shareholders, or, as they are more aptly called, share owners, to benefit from value investing and to allow the power of compounding to work for investors. There are presently more than 3,200 share owners.  icapital.biz Berhad has been consistently outperforming Bursa Malaysia, even during turbulent times. Since its inception in 2005 with an asset size of RM140 million, its net asset value (NAV) has grown to RM497 million as of October 18, 2023.

icapital.biz Berhad  is the only closed-end fund listed on Bursa Malaysia. It is managed by Capital Dynamics Asset Management Sdn Bhd, a licensed fund manager, and advised by Capital Dynamics Sdn Bhd, Malaysia’s first independent investment adviser. Capital Dynamics is well known for its superior investment performance based on its famous “Intelligently Eclectic” value investing philosophy. As a result of its consistent superior performance and sound investment philosophy, Capital Dynamics has gained a large following of investors.

Investor Day is an extension of this commitment. It serves as a platform to share knowledge and empower individuals with the right attitude in business, investment, and life. Through this event, Mr. Tan and  icapital.biz Berhad aim to make Malaysia and the world a better place, one informed investor at a time.

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In conclusion, 2023 Investor Day is not just about investment education; it’s about empowerment and a commitment to fostering a better global community. The event’s strengths and benefits, coupled with the insights into  icapital.biz Berhad and its team, exemplify the company’s vision of making the world a better place through education and values. It’s an opportunity to learn, connect, and be part of a movement dedicated to creating a brighter future through informed investment decisions.

For more information and to register for the 2023 Investor Day of icapital.biz Berhad, visit https://events.icapital.biz/landing-page/2023-investor-day-of-icapitalbiz-berhad/

 

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Generali and UNDP launched “Insurance Innovation Challenge Fund” to build SME resilience

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Generali and United Nations Development Programme (UNDP) have announced the launch of  “Insurance Innovation Challenge Fund” (IICF) and are seeking proposals from participants nationwide focusing on innovative insurance solutions to build small and medium-sized enterprises (SMEs) resilience in Malaysia.

The submissions should offer long-term sustainable solutions to safeguard SMEs against climate and other risks, be it through scaling up existing solutions, or partnering with diverse distribution channels and integrating new technology solutions. Products can cover, for example, stock and machinery, business continuity, staff, specific or multiple risks.

The IICF will facilitate and incentivize the development of two or more solutions through an open selection process in the country. Winners will each be awarded up to US$40,000 including financial and technical assistance to support the development of their proposed solutions.

Excited by this joint endeavor with UNDP, Fabrice Benard, CEO of Generali Insurance Malaysia Berhad states that it is part of Generali’s broader commitment to raise awareness and promote insurance as a key tool to drive financial inclusion among SMEs who are highly vulnerable to risks.

“SMEs account for about 97% of total businesses in Malaysia1 – they are not only the bedrock of the country’s economy, but also a priority to us at Generali. It is important for us, as a responsible insurer and citizen, to use our skills, resources and expertise to create opportunities for them to grow and empower them with access to insurance and risk mitigation solutions. Together with UNDP, we hope to bring in ideas through this meaningful initiative and source collective ways to boost the protection gap and drive resilience for the SMEs,” Fabrice adds.

Since 2022, Generali has been working with UNDP to develop insurance and risk finance solutions globally. Continuing on the partnership, Generali and UNDP are currently developing a loss prevention framework for SMEs to harness the power of data, awareness and understanding of risks for businesses in vulnerable communities. In addition to IICF and the framework, there will also be an Asian edition of Generali’s flagship SME EnterPRIZE project, which has already successfully been running in Europe over the past 2 years.

Interested participants wishing to apply for the IICF can submit their application and supporting documents to  irff.challenge@undp.org by 27 November 2023. There will be two virtual Q&A briefing sessions held on 31st October 2023 and 8th November 2023, 3:30pm to answer any questions relating to the IICF. Kindly register here to attend the virtual session on 31st October 2023. For more information, please visit https://irff.undp.org/challenge-fund/malaysia.