GXBank has completed an operational readiness review and has been approved to commence operations eﬀective Sept 1, 2023, the bank said in a statement on Tuesday.

GXBank will leverage technology and innovation to serve the needs of the unserved and underserved individuals, and micro and small medium enterprises (MSME). Additionally, the digital-only bank will support customers’ needs through various channels including a bank app and 24/7 customer support via multiple platforms, it added.

The lack of access to ﬁnancial services and its consequences in particular to the unserved and underserved segments and MSME is not new. The longstanding complexity of ﬁnancial access, coupled with the unprecedented events over the last few years, have eroded ﬁnancial buﬀers for individuals, households and businesses, the bank noted. Since the pandemic, 55 percent of Malaysians’ household income has decreased dramatically, with almost 50 percent now claiming to have diﬃculty raising at least MYR1,000 ($214.49) as emergency funds.

GXBank, with more than 95 percent Malaysian employees from both the technology and finance sectors, is led by Pei Si Lai, who brings with her over 25 years of extensive experience in consumer and commercial banking. The more than 200-strong team share the same conviction that combining today’s technology and finance expertise will provide the platform to empower local communities and businesses to be financially resilient.

“At GXBank, we are driven by our shared purpose and passion to bring positive transformation to the financial industry, starting with solutions to address the financial struggles of Malaysians and businesses. We are thankful for BNM’s guidance, support and trust in us to offer financial solutions and help the unserved and underserved communities achieve their dreams and better quality of life. Standing on Grab’s legacy of innovative tech and economic inclusion, we hope to redefine banking and reshape Malaysia’s financial landscape. Our collaboration with consortium partners such as Kuok Group and other industry players will enable us to work hand in hand, leveraging our respective ecosystems to nurture a resilient and financially inclusive Malaysia, where no one is left behind,” said Pei Si Lai, CEO, GX Bank Bhd.

Supporting GXBank is the newly appointed Board of Directors, spearheaded by Zaiton Mohd Hassan. She brings with her more than 30 years of experience in banking, audit, risk management and focus on governance and financial inclusion. Her previous roles in a variety of non-profit organisations and local banks reflects her deep passion to build and promote sustainable growth for the financially underserved.

Zaiton shared that the board is excited to be part of GXBank’s journey to drive real change and the reinvention of Malaysia’s financial sector. “We are at the forefront of the region’s fast evolving fintech landscape. With the collective strength of all our partners and digital banks in Singapore and Indonesia, GXBank is poised to offer equitable access to an innovative and transformational&nbsp;banking experience. We hope this will enable moreMalaysians to be financially independent, creating a better future for themselves, their families and the country,” said Zaiton.

With the commencement of operations, the bank will begin beta-testing its app – starting with its employees from GXBank, Grab and Kuok Group – and progressively roll out to a wider pool of users. This will enable GXBank to continuously receive feedback and refine the user experience before launching to the broader public.

GXBank is a subsidiary of GXS Bank Pte. Ltd., – the digital bank joint venture between Grab Holdings Ltd and Singapore Telecommunications Ltd (Singtel) – and a consortium of other Malaysian investors, including&nbsp;<a href="https://www.kuokgroup.com/">Kuok Group</a>, founded by Malaysia’s richest tycoon Robert Kuok.

In Singapore, GXS Bank, which is backed by a consortium consisting of Grab Holdings (Grab) and Singtel, has launched Singapore’s first digital bank for consumers and businesses in August last year.

<h1>GRAB-LED DIGIBANK GXBANK BECOMES FIRST TO GET MALAYSIA CENTRAL BANK'S APPROVAL TO COMMENCE OPERATIONS</h1>The Grab-led digital bank, GX Bank Bhd (GXBank), is the ﬁrst of the ﬁve digital bank licence applicants to receive the approval to commence operations from the Minister of Finance and Bank Negara Malaysia (BNM) ahead of the April 2024 deadline set by BNM.GXBank has completed an operational readiness review and has been approved to commence operations eﬀective Sept 1, 2023, the bank said in a statement on Tuesday.GXBank will leverage technology and innovation to serve the needs of the unserved and underserved individuals, and micro and small medium enterprises (MSME). Additionally, the digital-only bank will support customers’ needs through various channels including a bank app and 24/7 customer support via multiple platforms, it added.The lack of access to ﬁnancial services and its consequences in particular to the unserved and underserved segments and MSME is not new. The longstanding complexity of ﬁnancial access, coupled with the unprecedented events over the last few years, have eroded ﬁnancial buﬀers for individuals, households and businesses, the bank noted. Since the pandemic, 55 percent of Malaysians’ household income has decreased dramatically, with almost 50 percent now claiming to have diﬃculty raising at least MYR1,000 ($214.49) as emergency funds.GXBank, with more than 95 percent Malaysian employees from both the technology and finance sectors, is led by Pei Si Lai, who brings with her over 25 years of extensive experience in consumer and commercial banking. The more than 200-strong team share the same conviction that combining today’s technology and finance expertise will provide the platform to empower local communities and businesses to be financially resilient.“At GXBank, we are driven by our shared purpose and passion to bring positive transformation to the financial industry, starting with solutions to address the financial struggles of Malaysians and businesses. We are thankful for BNM’s guidance, support and trust in us to offer financial solutions and help the unserved and underserved communities achieve their dreams and better quality of life. Standing on Grab’s legacy of innovative tech and economic inclusion, we hope to redefine banking and reshape Malaysia’s financial landscape. Our collaboration with consortium partners such as Kuok Group and other industry players will enable us to work hand in hand, leveraging our respective ecosystems to nurture a resilient and financially inclusive Malaysia, where no one is left behind,” said Pei Si Lai, CEO, GX Bank Bhd.Supporting GXBank is the newly appointed Board of Directors, spearheaded by Zaiton Mohd Hassan. She brings with her more than 30 years of experience in banking, audit, risk management and focus on governance and financial inclusion. Her previous roles in a variety of non-profit organisations and local banks reflects her deep passion to build and promote sustainable growth for the financially underserved.Zaiton shared that the board is excited to be part of GXBank’s journey to drive real change and the reinvention of Malaysia’s financial sector. “We are at the forefront of the region’s fast evolving fintech landscape. With the collective strength of all our partners and digital banks in Singapore and Indonesia, GXBank is poised to offer equitable access to an innovative and transformational&nbsp;banking experience. We hope this will enable moreMalaysians to be financially independent, creating a better future for themselves, their families and the country,” said Zaiton.With the commencement of operations, the bank will begin beta-testing its app – starting with its employees from GXBank, Grab and Kuok Group – and progressively roll out to a wider pool of users. This will enable GXBank to continuously receive feedback and refine the user experience before launching to the broader public.GXBank is a subsidiary of GXS Bank Pte. Ltd., – the digital bank joint venture between Grab Holdings Ltd and Singapore Telecommunications Ltd (Singtel) – and a consortium of other Malaysian investors, including&nbsp;<a href="https://www.kuokgroup.com/">Kuok Group</a>, founded by Malaysia’s richest tycoon Robert Kuok.In Singapore, GXS Bank, which is backed by a consortium consisting of Grab Holdings (Grab) and Singtel, has launched Singapore’s first digital bank for consumers and businesses in August last year.Banking made better
At GXS, we are a digital bank on a mission to make banking better for Singapore's everyday consumers and small businesses.(+65) 3105 2055
help@gxs.com.sg

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The Grab-led digital bank, GX Bank Bhd (GXBank), is the ﬁrst of the ﬁve digital bank licence applicants to receive the approval to commence operations from the Minister of Finance and Bank Negara Malaysia (BNM) ahead of the April 2024 deadline set by BNM.

GRAB-LED DIGIBANK GXBANK BECOMES FIRST TO GET MALAYSIA CENTRAL BANK'S APPROVAL TO COMMENCE OPERATIONS

Wong said the company which is in the financial technology property segment, has replaced “more than RM12 million of rental deposits”. Based on reports, he said, the monthly gross rental value for residential and commercial properties in Malaysia totalled RM6 billion.

He reckoned that if the average was three months of rental deposits, it would be close to RM18 billion.

Wong said Blue Duck hopes to replace RM500 million in rental deposits per year and expects to achieve its target “five years from now”. Additionally, it aims to increase its market share to 5% within the same timeline.

However, he said the company is essentially focusing on zero deposit solutions, unlike other companies with similar offerings on the market.

“We work with all the stakeholders in the property sector to offer our solutions. We also have the USP (unique selling point) of giving focus on the tenant’s side rather than the landlords in terms of our product mainly because we need the tenant to actually commit,” he told&nbsp;SunBiz.

He said the company operates on business-to-business (B2B) and business-to-consumer (B2C) models. B2C consists of operators as well as property managers, which manage the properties on its platform. Consumers comprise tenants and landlords.

Currently, there are around 1,000 active tenancies on its platform and close to 90% of its tenants are below 35 years old.

In terms of revenue contribution, Wong said properties in Klang Valley contribute about 70%, followed by Johor Bahru 20% and Sabah 10%.

The company, he said, is targeting to grow by 50% this year, by partnering with players in the local property ecosystem.

“Previously, we worked with tenancy managers, now we’re expanding ourselves to property managers. So, we work with the property managers in town to expand our influence and increase adoption (for our offerings) and gain more market share.

“With property managers on board, then I can introduce more business tools and then we work with those ecosystem partners and they are already familiar with our products ... it’s a natural growth, because the market is still very new and 50% is very conservative,” Wong said.

On outlook, he opined that the company is benefiting from increased interest rates due to the overnight policy rate hikes, as it discourages home ownership and indirectly uplifts the rental market.

“Loan costs are getting more expensive. In terms of buying a property, the cost will be slightly more than in the previous years, which will discourage a lot of people from ... home ownership. With that, there’s an opportunity for us. Living is still a basic necessity for everyone, whether you are a home owner or renter.

“Our industry will continue to move (forward). (From what) we see on the market, if the interest rate goes up, it will also drive up the rental rate as well. For the past few months, the per square of the room and unit rental has increased more than 10% to 15%, which is alarming but that’s how the market goes.

“We are in the position to help the tenants ... landlords and the industry. We need to position ourselves better in order to capture a bigger market share,” Wong said.

Blue Duck plans to expand to Thailand and Indonesia and is open to talking to investors.

<h1>Blue Duck Tech helps tenants beat the rental deposit blues</h1>PETALING JAYA: Blue Duck Tech Sdn Bhd aims to replace up to RM500 million in rental deposits per year in the local property industry, which it hopes to achieve within the next five years via its Zero Deposit Programme.

Founder and CEO Earnest Wong said the programme, launched in 2021, intends to assist tenants in securing residential rental or commercial property without the need to pay a hefty upfront deposit. Instead, the tenant will pay a small fee to cover the cash deposit.Wong said the company which is in the financial technology property segment, has replaced “more than RM12 million of rental deposits”. Based on reports, he said, the monthly gross rental value for residential and commercial properties in Malaysia totalled RM6 billion.He reckoned that if the average was three months of rental deposits, it would be close to RM18 billion.Wong said Blue Duck hopes to replace RM500 million in rental deposits per year and expects to achieve its target “five years from now”. Additionally, it aims to increase its market share to 5% within the same timeline.However, he said the company is essentially focusing on zero deposit solutions, unlike other companies with similar offerings on the market.“We work with all the stakeholders in the property sector to offer our solutions. We also have the USP (unique selling point) of giving focus on the tenant’s side rather than the landlords in terms of our product mainly because we need the tenant to actually commit,” he told&nbsp;SunBiz.He said the company operates on business-to-business (B2B) and business-to-consumer (B2C) models. B2C consists of operators as well as property managers, which manage the properties on its platform. Consumers comprise tenants and landlords.Currently, there are around 1,000 active tenancies on its platform and close to 90% of its tenants are below 35 years old.In terms of revenue contribution, Wong said properties in Klang Valley contribute about 70%, followed by Johor Bahru 20% and Sabah 10%.The company, he said, is targeting to grow by 50% this year, by partnering with players in the local property ecosystem.“Previously, we worked with tenancy managers, now we’re expanding ourselves to property managers. So, we work with the property managers in town to expand our influence and increase adoption (for our offerings) and gain more market share.“With property managers on board, then I can introduce more business tools and then we work with those ecosystem partners and they are already familiar with our products ... it’s a natural growth, because the market is still very new and 50% is very conservative,” Wong said.On outlook, he opined that the company is benefiting from increased interest rates due to the overnight policy rate hikes, as it discourages home ownership and indirectly uplifts the rental market.“Loan costs are getting more expensive. In terms of buying a property, the cost will be slightly more than in the previous years, which will discourage a lot of people from ... home ownership. With that, there’s an opportunity for us. Living is still a basic necessity for everyone, whether you are a home owner or renter.“Our industry will continue to move (forward). (From what) we see on the market, if the interest rate goes up, it will also drive up the rental rate as well. For the past few months, the per square of the room and unit rental has increased more than 10% to 15%, which is alarming but that’s how the market goes.“We are in the position to help the tenants ... landlords and the industry. We need to position ourselves better in order to capture a bigger market share,” Wong said.Blue Duck plans to expand to Thailand and Indonesia and is open to talking to investors.We help residential and commercial tenants to save cash up front while landlords and agents are able to rent out faster to a verified tenant.+6016 6117154
hello@blueduck.my

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PETALING JAYA: Blue Duck Tech Sdn Bhd aims to replace up to RM500 million in rental deposits per year in the local property industry, which it hopes to achieve within the next five years via its Zero Deposit Programme.

Founder and CEO Earnest Wong said the programme, launched in 2021, intends to assist tenants in securing residential rental or commercial property without the need to pay a hefty upfront deposit. Instead, the tenant will pay a small fee to cover the cash deposit.

Blue Duck Tech helps tenants beat the rental deposit blues

KUALA LUMPUR: Maybank Group will be investing RM1.6 million over the next two years to ramp up its capabilities in environment, social and governance (ESG) research.

The initiative is expected to help pave the way for the emergence of energy transition and decarbonisation solutions in support of the government’s National Energy Transition Roadmap (NETR) and Low Carbon Aspiration 2050.

Maybank’s enhanced ESG research was launched at the Invest Malaysia KL forum here yesterday.

Its president and CEO Khairussaleh Ramli said the NETR would increase the demand for clean energy sources and financing for new infrastructure, technologies and decarbonising energy-intensive industries.

“Given our extensive on-the-ground research, we are strategically placed to become the go-to partner in our clients’ net zero transition journey,” he said.

“Our aspiration is to become a key player in the carbon ecosystem and contribute to a sustainable future for Malaysia and Asean,” he said.

Through the initiative, the impact of material ESG factors on a company’s risks and opportunities, including its revenue, costs and enterprise value would be included in financial analyses.

It will also include impact analysis on the adequacy of sustainability targets, alignment with industry standards and game-changing actions.

Khairussaleh said investors would be better equipped to evaluate the adequacy of ESG initiatives by companies, as well as transition opportunities and risks with more granular analysis.

This should raise investors’ confidence in investing in Asean, which Maybank considers to be a safe harbour in uncertain times, he added.

Maybank is one of the first financial institutions in the region to establish an ESG research team, publish dedicated ESG research, and establish its own proprietary ESG rating and scoring.

<h1>Maybank to invest RM1.6mil in ESG research</h1>Initiative is in support of the government’s energy transition plan and low carbon aspiration.KUALA LUMPUR: Maybank Group will be investing RM1.6 million over the next two years to ramp up its capabilities in environment, social and governance (ESG) research.The initiative is expected to help pave the way for the emergence of energy transition and decarbonisation solutions in support of the government’s National Energy Transition Roadmap (NETR) and Low Carbon Aspiration 2050.Maybank’s enhanced ESG research was launched at the Invest Malaysia KL forum here yesterday.Its president and CEO Khairussaleh Ramli said the NETR would increase the demand for clean energy sources and financing for new infrastructure, technologies and decarbonising energy-intensive industries.“Given our extensive on-the-ground research, we are strategically placed to become the go-to partner in our clients’ net zero transition journey,” he said.“Our aspiration is to become a key player in the carbon ecosystem and contribute to a sustainable future for Malaysia and Asean,” he said.Through the initiative, the impact of material ESG factors on a company’s risks and opportunities, including its revenue, costs and enterprise value would be included in financial analyses.It will also include impact analysis on the adequacy of sustainability targets, alignment with industry standards and game-changing actions.Khairussaleh said investors would be better equipped to evaluate the adequacy of ESG initiatives by companies, as well as transition opportunities and risks with more granular analysis.This should raise investors’ confidence in investing in Asean, which Maybank considers to be a safe harbour in uncertain times, he added.Maybank is one of the first financial institutions in the region to establish an ESG research team, publish dedicated ESG research, and establish its own proprietary ESG rating and scoring.Malayan Banking Berhad (doing business as Maybank) is a Malaysian universal bank, with key operating "home markets" of Malaysia, Singapore, and Indonesia.For any enquiries, please contact our Maybank Group Customer Care at 1-300-88-6688 (Malaysia) or + 603 7844 3696 (overseas).

Initiative is in support of the government’s energy transition plan and low carbon aspiration.

Maybank to invest RM1.6mil in ESG research

PETALING JAYA: The third strategic thrust of Bank Negara’s financial sector blueprint – advancing the digitalisation of the financial sector – reinforces the growing focus of digital transformation within the industry.

Banks that are prepared to ride the digital wave would gain access to new opportunities of growth, enhance their resilience, and build a future ready workforce. But to achieve this, banks must invest in the technology and skills needed to enable sustainable development.

Commenting on the increased focus on the digitalisation of the country’s financial sector, HSBC Malaysia chief operating officer Mark Hall told StarBiz one of the bank’s strategic pillars focuses on investing in technology to ‘digitise at scale’.

He said as more customers prefer to engage with the bank for online transactions to meet their banking needs, HSBC is bent on delivering faster, easier, and more secure digital banking.

This would be crucial to helping the bank win and retain new customers while becoming more agile and efficient, and enabling it to create seamless customer journeys, he added.

According to Hall, in Malaysia currently more than 90% of corporate and retail transactions have been executed via digital channels.

“We have also made an investment of US$40mil (RM182mil) from 2021 to 2023 to equip our branches in the country with enhanced digital capabilities and new technology.

“This is in addition to the US$18 mil (RM82mil) that was invested from 2018 to 2020 and will further enable us to develop innovative branch formats and champion new ways of serving our customers while supporting their financial journeys.

“Whether it is artificial intelligence, blockchain, cloud or the Web 3.0, the customer and their journey underpins everything we do.

“Our global connectivity is bolstered by digital solutions that enable our international customers to take their bank with them wherever they are in the world,” he said.

HSBC as one of the leading banks in Asia, Hall said is also innovating at speed and scale to deliver digital-first banking for its customers.

As an example, he said the bank has delivered Digital Investment Account opening, allowing customers to begin their investment journey anytime and anywhere in the country, along with mobile platform capabilities to execute, diversify and monitor investments conveniently.

“This requires teams to work cross-functionally, collaboratively and in an agile way with a focus on product specialists, software development specialists and customer experience and user experience specialists.

Last year, it launched the HSBC Global Wallet, Malaysia’s first multi-currency digital wallet that enables small and medium enterprises (SMEs) to transact with their suppliers and clients quickly and securely globally.

The country’s focus on digital progression and innovation has also facilitated the growth of HSBC’s Global Service Centre in Malaysia.

The global service centre here which delivers transformation services, supports the operations of 39 countries and territories, enabled by a diverse breed of talent to meet the varying needs of our international operations.

Capitalising on the latest technology, Hall said, like real-time data and analytics, is critical in helping banks understand customers more deeply, respond to their needs faster and provide tailored services.

It’s also fundamental to protecting customers, safeguarding the bank’s data and the bank itself against cyber-attacks and financial crime, he said.

Data and analytics now plays a key role in transforming the way HSBC works, he said, noting that the bank is using the latest AI and cloud technology to help identify suspicious activity and prevent financial crime in several markets.

On the advent of the Fourth Industrial Revolution (Industry 4.0) in reshaping the digital landscape, he said Industry 4.0 is increasingly automating tasks and boosting the need for Malaysia to transform its workforce into a skilled workforce.

He said this would be critical for the country to enhance its competitiveness and to remain relevant.

The banking industry has already made great strides in this area, he said.

“HSBC itself is exploring cutting-edge technologies to develop and harness its potential to reshape banking.

“This exploration calls for individuals that can partner with other technology organisations and fintechs to accelerate the evolution of financial services.

“Acquiring the requisite skills will help advance the workforce within the country, prepare employees to be ready to embrace the workplace of the future while enabling them to deliver a better experience for our customers.

“In Malaysia, we recently launched the Digital Blackbelt programme as part of a digital upskilling initiative to improve awareness and knowledge of data, digital and future-state technologies.

“We believe embedding a technology innovation mindset and putting money into innovation will open value-creation possibilities,” Hall added.

<h1>HSBC Malaysia beefs up digitalisation drive</h1>PETALING JAYA: The third strategic thrust of Bank Negara’s financial sector blueprint – advancing the digitalisation of the financial sector – reinforces the growing focus of digital transformation within the industry.Banks that are prepared to ride the digital wave would gain access to new opportunities of growth, enhance their resilience, and build a future ready workforce. But to achieve this, banks must invest in the technology and skills needed to enable sustainable development.Commenting on the increased focus on the digitalisation of the country’s financial sector, HSBC Malaysia chief operating officer Mark Hall told StarBiz one of the bank’s strategic pillars focuses on investing in technology to ‘digitise at scale’.He said as more customers prefer to engage with the bank for online transactions to meet their banking needs, HSBC is bent on delivering faster, easier, and more secure digital banking.This would be crucial to helping the bank win and retain new customers while becoming more agile and efficient, and enabling it to create seamless customer journeys, he added.According to Hall, in Malaysia currently more than 90% of corporate and retail transactions have been executed via digital channels.“We have also made an investment of US$40mil (RM182mil) from 2021 to 2023 to equip our branches in the country with enhanced digital capabilities and new technology.“This is in addition to the US$18 mil (RM82mil) that was invested from 2018 to 2020 and will further enable us to develop innovative branch formats and champion new ways of serving our customers while supporting their financial journeys.“Whether it is artificial intelligence, blockchain, cloud or the Web 3.0, the customer and their journey underpins everything we do.“Our global connectivity is bolstered by digital solutions that enable our international customers to take their bank with them wherever they are in the world,” he said.HSBC as one of the leading banks in Asia, Hall said is also innovating at speed and scale to deliver digital-first banking for its customers.As an example, he said the bank has delivered Digital Investment Account opening, allowing customers to begin their investment journey anytime and anywhere in the country, along with mobile platform capabilities to execute, diversify and monitor investments conveniently.“This requires teams to work cross-functionally, collaboratively and in an agile way with a focus on product specialists, software development specialists and customer experience and user experience specialists.Last year, it launched the HSBC Global Wallet, Malaysia’s first multi-currency digital wallet that enables small and medium enterprises (SMEs) to transact with their suppliers and clients quickly and securely globally.The country’s focus on digital progression and innovation has also facilitated the growth of HSBC’s Global Service Centre in Malaysia.The global service centre here which delivers transformation services, supports the operations of 39 countries and territories, enabled by a diverse breed of talent to meet the varying needs of our international operations.Capitalising on the latest technology, Hall said, like real-time data and analytics, is critical in helping banks understand customers more deeply, respond to their needs faster and provide tailored services.It’s also fundamental to protecting customers, safeguarding the bank’s data and the bank itself against cyber-attacks and financial crime, he said.Data and analytics now plays a key role in transforming the way HSBC works, he said, noting that the bank is using the latest AI and cloud technology to help identify suspicious activity and prevent financial crime in several markets.On the advent of the Fourth Industrial Revolution (Industry 4.0) in reshaping the digital landscape, he said Industry 4.0 is increasingly automating tasks and boosting the need for Malaysia to transform its workforce into a skilled workforce.He said this would be critical for the country to enhance its competitiveness and to remain relevant.The banking industry has already made great strides in this area, he said.“HSBC itself is exploring cutting-edge technologies to develop and harness its potential to reshape banking.“This exploration calls for individuals that can partner with other technology organisations and fintechs to accelerate the evolution of financial services.“Acquiring the requisite skills will help advance the workforce within the country, prepare employees to be ready to embrace the workplace of the future while enabling them to deliver a better experience for our customers.“In Malaysia, we recently launched the Digital Blackbelt programme as part of a digital upskilling initiative to improve awareness and knowledge of data, digital and future-state technologies.“We believe embedding a technology innovation mindset and putting money into innovation will open value-creation possibilities,” Hall added.HSBC is one of the world’s largest banking and financial services organisations. We serve approximately 39 million customers through our global businesses: Wealth and Personal Banking, Commercial Banking, and Global Banking & Markets. Our network covers 62 countries and territories in Europe, Asia, the Middle East and Africa, North America and Latin America.Local call number: 1300 88 1388

HSBC Malaysia beefs up digitalisation drive

Kuala Lumpur, 19 June 2023 - Berjaya Sompo Insurance Berhad (Berjaya Sompo), a leading general insurance provider in Malaysia, is proud to announce a significant milestone in the Company's history, achieving RM1 billion in Gross Written Premium (GWP) for the financial year 2022. The achievement is a testament to Berjaya Sompo's commitment to its mission, ‘Insurance Made Easy for You’.

Mr Tan Sek Kee, Chief Executive Officer of Berjaya Sompo, expressed his gratitude to the entire team for their hard work and dedication in achieving this significant milestone. He said, “Reaching RM1 billion in Gross Written Premium demonstrates Berjaya Sompo’s commitment to our customers and their evolving needs. We remain focused on driving innovation, leveraging technology, and continuously improving our processes to deliver the best possible insurance solutions."

Berjaya Sompo attributes the RM1 billion in GWP accomplishment to a range of strategic initiatives driven by innovation, customer-centricity, and continuous improvement that has propelled its growth and strengthened its position in the insurance market. Two key drivers of this success are introducing market-relevant products and adopting digital processes for customer’s convenience.

Launching innovative products such as SOMPO MotorSafe, SOMPO TravelSafe, and SOMPO Motorcycle has been instrumental in expanding Berjaya Sompo's customer base and capturing new market segments. These products offer comprehensive coverage and unique benefits tailored to the evolving needs of consumers. With SOMPO MotorSafe, the innovative usage-based telematics motor insurance coverage provides low-mileage drivers the flexibility of paying according to their mileage. SOMPO TravelSafe offers extensive travel insurance coverage, enabling travellers to confidently embark on their journeys by providing additional coverage for COVID-19-related events. Additionally, SOMPO Motorcycle provides coverage for breakdown roadside assistance, towing and personal accident coverage for motorcycle riders.

Berjaya Sompo has also embraced digitalisation as a part of its growth strategy. The recent launch of the MySOMPO mobile application (app) demonstrates the Company's commitment to enhancing customer experience and convenience. The MySOMPO app provides a user-friendly platform for policyholders to request assistance in case of a vehicle breakdown or accident and submit claims. MySOMPO achieved close to 4,700 downloads to-date since its launch on 20 March 2023.

Additionally, the Company continuously improves its processes to optimise internal processes, eliminate redundancies, and enhance operational effectiveness. With this, the Company has achieved greater agility, responsiveness, and cost-efficiency, benefiting both the organisation and its customers.

Looking ahead, Berjaya Sompo remains committed to delivering exceptional customer experiences and pursuing sustainable business practices. The Company recognises the growing importance of sustainability. Hence, it embraces the Environmental, Social, and Governance (ESG) aspects by supporting the global drive and implementation of a more sustainable economy by enhancing the Company's ESG scope and activities, not just limited to Climate-related but extended to Social (which includes Corporate Social Responsibility initiatives) and Governance (comprising Corporate Governance).

On the business front, the Company is offering EV coverage with several partners. With its bancassurance partner, CIMB Bank, Berjaya Sompo offers the first-in-market complimentary EV coverage with Secure Motor, available for both new and used EVs (up to eight years old). A similar package has also been extended to Mazda EV car owners.

Taking it one step further, Berjaya Sompo will embark on slope mitigation via a tree planting initiative along Sg Gombak in the second half of 2023 to help combat the extreme floods the country has been experiencing.

Berjaya Sompo's achievement of RM1 billion GWP illustrates its market leadership and customers' trust in the Company. As Berjaya Sompo moves forward, it remains focused on driving innovation, leveraging digital technologies, and adopting sustainable business practices to ensure a positive impact on its customers, employees, and the communities it serves.

<h1>Berjaya Sompo celebrates RM1 billion Gross Written Premium (GWP) achievement</h1>Kuala Lumpur, 19 June 2023 - Berjaya Sompo Insurance Berhad (Berjaya Sompo), a leading general insurance provider in Malaysia, is proud to announce a significant milestone in the Company's history, achieving RM1 billion in Gross Written Premium (GWP) for the financial year 2022. The achievement is a testament to Berjaya Sompo's commitment to its mission, ‘Insurance Made Easy for You’.Mr Tan Sek Kee, Chief Executive Officer of Berjaya Sompo, expressed his gratitude to the entire team for their hard work and dedication in achieving this significant milestone. He said, “Reaching RM1 billion in Gross Written Premium demonstrates Berjaya Sompo’s commitment to our customers and their evolving needs. We remain focused on driving innovation, leveraging technology, and continuously improving our processes to deliver the best possible insurance solutions."Key DriversBerjaya Sompo attributes the RM1 billion in GWP accomplishment to a range of strategic initiatives driven by innovation, customer-centricity, and continuous improvement that has propelled its growth and strengthened its position in the insurance market. Two key drivers of this success are introducing market-relevant products and adopting digital processes for customer’s convenience.Launching innovative products such as SOMPO MotorSafe, SOMPO TravelSafe, and SOMPO Motorcycle has been instrumental in expanding Berjaya Sompo's customer base and capturing new market segments. These products offer comprehensive coverage and unique benefits tailored to the evolving needs of consumers. With SOMPO MotorSafe, the innovative usage-based telematics motor insurance coverage provides low-mileage drivers the flexibility of paying according to their mileage. SOMPO TravelSafe offers extensive travel insurance coverage, enabling travellers to confidently embark on their journeys by providing additional coverage for COVID-19-related events. Additionally, SOMPO Motorcycle provides coverage for breakdown roadside assistance, towing and personal accident coverage for motorcycle riders.Berjaya Sompo has also embraced digitalisation as a part of its growth strategy. The recent launch of the MySOMPO mobile application (app) demonstrates the Company's commitment to enhancing customer experience and convenience. The MySOMPO app provides a user-friendly platform for policyholders to request assistance in case of a vehicle breakdown or accident and submit claims. MySOMPO achieved close to 4,700 downloads to-date since its launch on 20 March 2023.Additionally, the Company continuously improves its processes to optimise internal processes, eliminate redundancies, and enhance operational effectiveness. With this, the Company has achieved greater agility, responsiveness, and cost-efficiency, benefiting both the organisation and its customers.Moving ForwardLooking ahead, Berjaya Sompo remains committed to delivering exceptional customer experiences and pursuing sustainable business practices. The Company recognises the growing importance of sustainability. Hence, it embraces the Environmental, Social, and Governance (ESG) aspects by supporting the global drive and implementation of a more sustainable economy by enhancing the Company's ESG scope and activities, not just limited to Climate-related but extended to Social (which includes Corporate Social Responsibility initiatives) and Governance (comprising Corporate Governance).On the business front, the Company is offering EV coverage with several partners. With its bancassurance partner, CIMB Bank, Berjaya Sompo offers the first-in-market complimentary EV coverage with Secure Motor, available for both new and used EVs (up to eight years old). A similar package has also been extended to Mazda EV car owners.Taking it one step further, Berjaya Sompo will embark on slope mitigation via a tree planting initiative along Sg Gombak in the second half of 2023 to help combat the extreme floods the country has been experiencing.Berjaya Sompo's achievement of RM1 billion GWP illustrates its market leadership and customers' trust in the Company. As Berjaya Sompo moves forward, it remains focused on driving innovation, leveraging digital technologies, and adopting sustainable business practices to ensure a positive impact on its customers, employees, and the communities it serves.Berjaya Sompo Insurance Berhad (“Berjaya Sompo”), is the Malaysian operating entity and part of Sompo Group. Bolstered by the Sompo Group’s 80 years of trusted presence is Asia, spreading across 14 markets in the region, Berjaya Sompo is a leading name in general insurance in Malaysia, with an ever-expanding network that presently comprises 16 offices and 2,590 agents nationwide. Berjaya Sompo provides a comprehensive range of general insurance solutions for individuals and corporations.Customer Service
8.30 am - 5.00 pm (Monday to Friday)
1 800 88 9933 (within Malaysia)
+603 2170 7300 (0verseas)

Financial results announcement

Berjaya Sompo celebrates RM1 billion Gross Written Premium (GWP) achievement

BUKIT MERTAJAM, June 18 — Koperasi Sahabat Amanah Ikhtiar Malaysia Bhd (Koop Sahabat) today announced dividend payout for the financial year ending December 31, 2022 at 10 per cent which is RM6.5 million to its 452,728 members compared to RM5.8 million in 2021.

Chairman Mohd Najib Mohd Noor said Koop Sahabat has also recorded a pre-tax profit amounting to RM12.6 million which is a 25 per cent jump compared to RM10.1 million in 2021.

“The performance is Koop Sahabat’s commitment in looking after the welfare of its members who are female entrepreneurs among the B40, in addition to being able to give a confidence boost to prospective members from Sahabat Usahawan Amanah Ikhtiar Malaysia (AIM).

“We also believe that Koop Sahabat’s current business in financial services such as Ar Rahnu, property development, corporate investment, strategic investment and investment in public equity, will continue to grow with the support of its members,” he said in a statement today.

He said the cooperative held its 10th Annual General Meeting here today, officiated by Cooperative Commission of Malaysia vice-chairman of operations and regulation Siti Azlin Ahmad Dauta. Also present was Koop Sahabat chief executive officer Mazri Mahmood.

Mohd Najib said Koop Sahabat has launched the i-Gold Personal Account (i-GPA) product, which is a syariah-compliant digital gold product in collaboration with KAB Goldynamic Sdn Bhd, which is able to help and strengthen the community’s finances in uncertain economic conditions.

He said i-GPA provides an opportunity for all members of the community to have their own digital gold savings and can be converted to physical gold when the savings are sufficient.

“i-GPA is the latest method for gig workers and children of cooperative members to make future savings by having gold in digital form to build an emergency fund.

“Purchasing digital gold for as low as RM10 entitles members and members’ children as well as users to have their own savings,” he said. — Bernama

<h1>Koop Sahabat announces 10pc dividend payout</h1>BUKIT MERTAJAM, June 18 — Koperasi Sahabat Amanah Ikhtiar Malaysia Bhd (Koop Sahabat) today announced dividend payout for the financial year ending December 31, 2022 at 10 per cent which is RM6.5 million to its 452,728 members compared to RM5.8 million in 2021.Chairman Mohd Najib Mohd Noor said Koop Sahabat has also recorded a pre-tax profit amounting to RM12.6 million which is a 25 per cent jump compared to RM10.1 million in 2021.“The performance is Koop Sahabat’s commitment in looking after the welfare of its members who are female entrepreneurs among the B40, in addition to being able to give a confidence boost to prospective members from Sahabat Usahawan Amanah Ikhtiar Malaysia (AIM).“We also believe that Koop Sahabat’s current business in financial services such as Ar Rahnu, property development, corporate investment, strategic investment and investment in public equity, will continue to grow with the support of its members,” he said in a statement today.He said the cooperative held its 10th Annual General Meeting here today, officiated by Cooperative Commission of Malaysia vice-chairman of operations and regulation Siti Azlin Ahmad Dauta. Also present was Koop Sahabat chief executive officer Mazri Mahmood.Mohd Najib said Koop Sahabat has launched the i-Gold Personal Account (i-GPA) product, which is a syariah-compliant digital gold product in collaboration with KAB Goldynamic Sdn Bhd, which is able to help and strengthen the community’s finances in uncertain economic conditions.He said i-GPA provides an opportunity for all members of the community to have their own digital gold savings and can be converted to physical gold when the savings are sufficient.“i-GPA is the latest method for gig workers and children of cooperative members to make future savings by having gold in digital form to build an emergency fund.“Purchasing digital gold for as low as RM10 entitles members and members’ children as well as users to have their own savings,” he said. — Bernamaoperasi Sahabat Amanah Ikhtiar Malaysia (Koop Sahabat) Berhad yang juga dikenali sebagai Koop Sahabat telah ditubuhkan secara rasminya pada 30 Ogos 2012 dan ibu pejabat bertempat di Bandar Sri Damansara, Kuala Lumpur. Penubuhan Koop Sahabat adalah hasil dari Mesyuarat Perancangan Strategik di antara anggota Lembaga Pemegang Amanah dan Pengurusan AIM pada 4 & 5 Mac 2012 telah menzahirkan dalam misinya iaitu dengan memperkasakan modal insan dan menambah kecekapan dan mengagihkan pendapatan tahunan kepada sahabat melalui penubuhan Koperasi Sahabat Amanah Ikhtiar Malaysia Berhad.Jika terdapat sebarang pertanyaan atau kesulitan, bolehlah menghubungi Pegawai Keanggotaan di talian seperti berikut:

011-5585 3138 (melalui ‘whatsapp’)
keanggotaan@koopsahabat.my (secara emel)

Koop Sahabat announces 10pc dividend payout

The offering of the fund underscores the Company’s commitment to providing innovative investment solutions that capitalise on opportunities in ASEAN’s growing markets.

Ms. Lim Suet Ling, Chief Executive Officer of UOBAM (Malaysia) said, "We are proud to introduce UVEF, which represents a significant milestone for UOB Asset Management (UOBAM). Through this fund, we offer our regional expertise to connect Malaysians to one of ASEAN’s leading market investment landscape. Vietnam's robust economic growth and vibrant business environment present a compelling opportunity for investors seeking to tap into the region's growth.”

UVEF is suitable for retail investors with long-term investment horizons and are comfortable with volatility and risks of an equity fund. UOBAM's strong presence in the ASEAN region, combined with its in-country investment expertise has enabled the company to capture the potential within Vietnam's equity market. Investors will also benefit from the local expertise of a dedicated and experienced UOBAM Vietnam team located at its Ho Chi Minh City office.

The team has managed several offshore funds and mandates investing in Vietnam market for foreign institutional investors over the last decade. This resulted in the Company having built and maintained a solid database of more than 120 Vietnamese listed companies, representing more than 90 per cent of the country’s total market capitalisation.

UVEF seeks to achieve its objectives by investing a minimum of 90 per cent of the Fund's net asset value (NAV) in United Vietnam Equity Fund (Target Fund). The remaining 10 per cent is invested in liquid assets, which includes money-market instruments and deposits.

The Target Fund invests primarily in equity and equity-related securities of corporations and other entities listed, located, incorporated, or have significant business operations or assets in Vietnam. All investment decisions are made at the Target Fund level by its manager, UOBAM.

UVEF's is available for subscription now at selected distributors in both domestic and foreign currencies with an initial minimum investment of RM1,000 and US$1,000.

For more information on UVEF, please visit&nbsp;<a href="https://www.uobam.com.my/our-funds/funds-details.page?mstarid=F00001FWJG">https://www.uobam.com.my/our-funds/funds-details.page?mstarid=F00001FWJG</a>

<h1>UOBAM (Malaysia) launches United Vietnam Equities Fund (UVEF)</h1>UOB Asset Management (Malaysia) (UOBAM (Malaysia)) has recently launched the United Vietnam Equities Fund (UVEF). UVEF offers local retail investors the exposure to the equity market in Vietnam, one of ASEAN's leading manufacturing hub.The offering of the fund underscores the Company’s commitment to providing innovative investment solutions that capitalise on opportunities in ASEAN’s growing markets.Ms. Lim Suet Ling, Chief Executive Officer of UOBAM (Malaysia) said, "We are proud to introduce UVEF, which represents a significant milestone for UOB Asset Management (UOBAM). Through this fund, we offer our regional expertise to connect Malaysians to one of ASEAN’s leading market investment landscape. Vietnam's robust economic growth and vibrant business environment present a compelling opportunity for investors seeking to tap into the region's growth.”UVEF is suitable for retail investors with long-term investment horizons and are comfortable with volatility and risks of an equity fund. UOBAM's strong presence in the ASEAN region, combined with its in-country investment expertise has enabled the company to capture the potential within Vietnam's equity market. Investors will also benefit from the local expertise of a dedicated and experienced UOBAM Vietnam team located at its Ho Chi Minh City office.The team has managed several offshore funds and mandates investing in Vietnam market for foreign institutional investors over the last decade. This resulted in the Company having built and maintained a solid database of more than 120 Vietnamese listed companies, representing more than 90 per cent of the country’s total market capitalisation.UVEF seeks to achieve its objectives by investing a minimum of 90 per cent of the Fund's net asset value (NAV) in United Vietnam Equity Fund (Target Fund). The remaining 10 per cent is invested in liquid assets, which includes money-market instruments and deposits.The Target Fund invests primarily in equity and equity-related securities of corporations and other entities listed, located, incorporated, or have significant business operations or assets in Vietnam. All investment decisions are made at the Target Fund level by its manager, UOBAM.UVEF's is available for subscription now at selected distributors in both domestic and foreign currencies with an initial minimum investment of RM1,000 and US$1,000.For more information on UVEF, please visit&nbsp;<a href="https://www.uobam.com.my/our-funds/funds-details.page?mstarid=F00001FWJG">https://www.uobam.com.my/our-funds/funds-details.page?mstarid=F00001FWJG</a>UOB Asset Management (Malaysia) Berhad (“UOBAM(M)”) is built on a strong foundation of investment capabilities, grounded in rigorous and extensive research. UOBAM(M) has held the Capital Markets and Services Licence for fund management in Malaysia under the Capital Market and Services Act since January 1997. In January 2014, UOBAM (M) obtained approval from the Securities Commission of Malaysia to deal in securities restricted to unit trust products. UOBAM(M) has more than 20 years of experience in providing fund management and fund advisory services for both institutional and retail clients. UOBAM(M) operates 29 funds and manages more than RM8.0 billion worth of assets in Malaysia.

As a subsidiary of the UOB Asset Management Ltd headquartered in Singapore which has a strong regional presence in markets that include Thailand, Brunei, Taiwan, Japan, China, India, Vietnam and Indonesia via local offices, joint ventures and alliances, we enjoy a strong regional integration which grants us in-depth knowledge and first hand insights in an ever-changing environment.

Our clients encompass high net worth individuals, private corporations, unit trusts companies, insurance companies and state boards.
 
Overall, the UOB Asset Management group manages more than S$32.0 billion* worth of assets across the region and has been recipient of numerous awards – 308 fund awards, which is testament to the Group’s investment success. UOB Asset Management (Malaysia) Berhad (Company no. 199101009166 (219478-X)) 
Level 20, UOB Plaza 1,
7 Jalan Raja Laut,
50350 Kuala Lumpur

General Line: 603 - 27790011 
Whatsapp: 6018 - 6686226

Securities / FX / Investment Trusts

UOB Asset Management (Malaysia) (UOBAM (Malaysia)) has recently launched the United Vietnam Equities Fund (UVEF). UVEF offers local retail investors the exposure to the equity market in Vietnam, one of ASEAN's leading manufacturing hub.

UOBAM (Malaysia) launches United Vietnam Equities Fund (UVEF)

AFFIN Bank Bhd is empowering small and medium enterprises (SMEs) towards business resilience and sustainability through a Memorandum of Understanding (MoU) with Sirim Bhd.

Affin Bank said the collaboration is also in line with their commitment and efforts to foster SME companies towards sustainable growth through simple access to proper resources and value-driven solutions.

Its president and group CEO Datuk Wan Razly Abdullah Wan Ali said the collaboration reaffirms their commitment and support for the government’s agenda to encourage adoption of ESG practises, making sustainability an intrinsic part of long-term business growth.

He also said both parties are dedicated in supporting the SMEs throughout different stages and economic cycles.

He added that the support would be by offering a comprehensive suite of solutions specifically designed to address both financial and non-financial needs of SMEs inclusively and with relevance in an ever-evolving market.

Meanwhile, Sirim president and group CEO Datuk Dr Ahmad Sabirin Arshad said Sirim has the expertise, resources, and influence supporting and guiding the industries especially the SMEs towards sustainable practices and responsible business conduct.

“We can provide technical expertise and research support to help industries integrate the environment, social and governance (ESG) principles into their operations.

“The SMEs may leverage on Sirim multidisciplinary teams of experts in identifying areas for improvement, and implementing sustainable practices such as conducting environmental audits, carbon footprint assessments, and waste management studies to reduce their environmental footprint,” he said in a statement on Tuesday.

Ahmad Sabirin further pointed out their ability to facilitate the development and implementation of ESG standards and certifications in collaboration with industry stakeholders.

He added that Sirim is currently developing its own ESG standard which is expected to be completed by the end of June.

<h1>Affin Bank, Sirim collaborate to empower SMEs</h1>AFFIN Bank Bhd is empowering small and medium enterprises (SMEs) towards business resilience and sustainability through a Memorandum of Understanding (MoU) with Sirim Bhd.Affin Bank said the collaboration is also in line with their commitment and efforts to foster SME companies towards sustainable growth through simple access to proper resources and value-driven solutions.Its president and group CEO Datuk Wan Razly Abdullah Wan Ali said the collaboration reaffirms their commitment and support for the government’s agenda to encourage adoption of ESG practises, making sustainability an intrinsic part of long-term business growth.He also said both parties are dedicated in supporting the SMEs throughout different stages and economic cycles.He added that the support would be by offering a comprehensive suite of solutions specifically designed to address both financial and non-financial needs of SMEs inclusively and with relevance in an ever-evolving market.Meanwhile, Sirim president and group CEO Datuk Dr Ahmad Sabirin Arshad said Sirim has the expertise, resources, and influence supporting and guiding the industries especially the SMEs towards sustainable practices and responsible business conduct.“We can provide technical expertise and research support to help industries integrate the environment, social and governance (ESG) principles into their operations.“The SMEs may leverage on Sirim multidisciplinary teams of experts in identifying areas for improvement, and implementing sustainable practices such as conducting environmental audits, carbon footprint assessments, and waste management studies to reduce their environmental footprint,” he said in a statement on Tuesday.Ahmad Sabirin further pointed out their ability to facilitate the development and implementation of ESG standards and certifications in collaboration with industry stakeholders.He added that Sirim is currently developing its own ESG standard which is expected to be completed by the end of June.Affin Bank Berhad (AFFIN BANK) is the financial holding company of Affin Islamic Bank Berhad, Affin Hwang Investment Bank Berhad, Affin Moneybrokers Sdn Bhd and AXA AFFIN Life Insurance Berhad. AXA AFFIN General Insurance Berhad is an associate company of Affin Bank Berhad.

AFFIN BANK provides a suite of financial products and services that is catered to both retail and corporate customers. The target business segments are categorized under key business units such as Community Banking, Enterprise Banking, Corporate Banking and Treasury. As at 1 August 2022, AFFIN BANK has a network of 115 branches in Malaysia.For customer enquiries on Bank's Products & Services, please reach us at +603-8230 2222. You may reach us all days from 8:00am to 12:00am (normal hours).

For Credit/Debit Card enquiries, please reach us at +603-2028 6300 after office hours.

For Bankcard enquiries, please reach us at +603-2028 6262 after office hours.

Affin Bank, Sirim collaborate to empower SMEs

KUALA LUMPUR, Malaysia,&nbsp;May 16, 2023 - FBS, an international broker with a presence in over 150 countries, was rated as one of the top world's best brokerage companies, according to FXonline.ai, an AI-driven platform that displays listings of Forex brokers.

<a href="https://mma.prnasia.com/media2/2077887/FBS_AI.jpg?p=publish" target="_blank" rel="nofollow"></a>FBS was rated as one of the top world’s best brokerage companies by AI

FBS scored 7.2 out of 10, rising high in an FXonline.ai listing. The innovative platform marks FBS's customer-centric approach and highlights the company's excellent Usability, Customer Care, and swift Registration process.

The artificial intelligence technologies used by FXonline.ai allow for impartial analysis of the trading industry, resulting in fair and unbiased reviews. The company is bent on creating a new era of Forex with fairness and freedom as core values. The idea is to help traders make fact-based decisions using relatable information on a broker collected in an in-depth AI analysis of the broker's website.

The AI-driven platform analyzed each stage of the user flow of FBS and other shortlisted brokers, and rated them on 5 key criteria, including trading conditions, promotions, ease of use, deposits and withdrawals, and customer support. The approach results in reliable, straightforward ratings that are not influenced by human emotion.

"Designed with the trader's benefit in mind, our AI-driven platform provides users with an impartial outlook on the FX industry and helps them find the most suitable platform in a matter of seconds. We are happy to have on board the most renown brokers in the industry, who are ready to get an unbiased review of their work. Forex is a tough market, and we&nbsp;appreciate&nbsp;the fact that FBS was rated high by our in-house designed AI technology and placed among the top competitors, making it a good choice for traders around the world,"&nbsp;says&nbsp;FXonline.ai on FBS.

"We are pleased and proud to have our services rated so highly. It is especially rewarding to see proof of our professionalism manifested in&nbsp;an&nbsp;AI-driven analysis, that features unbiased research algorithms free from human interference. We will stick to our principles and values to keep providing our customers with the best trading services possible,"&nbsp;says&nbsp;Ksenia Molodkina, Strategic Marketing Director FBS.

Over 14 years of dedicated work, FBS has won more than 75 international awards that are now enhanced by the&nbsp;<a href="https://fxonline.ai/?utm_source=fbs&amp;utm_medium=pressrelease&amp;utm_campaign=fbs_top" target="_blank" rel="nofollow">FXonline.ai</a>&nbsp;listing. To this day, FBS maintains a high level of service and customer support – more than 27 million traders and 500,000 partners work with FBS, and the numbers are growing.

<h1>AI Places FBS Among the World's Top Brokers</h1>KUALA LUMPUR, Malaysia,&nbsp;May 16, 2023 - FBS, an international broker with a presence in over 150 countries, was rated as one of the top world's best brokerage companies, according to FXonline.ai, an AI-driven platform that displays listings of Forex brokers.<a href="https://mma.prnasia.com/media2/2077887/FBS_AI.jpg?p=publish" target="_blank" rel="nofollow"></a>FBS was rated as one of the top world’s best brokerage companies by AIFBS scored 7.2 out of 10, rising high in an FXonline.ai listing. The innovative platform marks FBS's customer-centric approach and highlights the company's excellent Usability, Customer Care, and swift Registration process.The artificial intelligence technologies used by FXonline.ai allow for impartial analysis of the trading industry, resulting in fair and unbiased reviews. The company is bent on creating a new era of Forex with fairness and freedom as core values. The idea is to help traders make fact-based decisions using relatable information on a broker collected in an in-depth AI analysis of the broker's website.The AI-driven platform analyzed each stage of the user flow of FBS and other shortlisted brokers, and rated them on 5 key criteria, including trading conditions, promotions, ease of use, deposits and withdrawals, and customer support. The approach results in reliable, straightforward ratings that are not influenced by human emotion."Designed with the trader's benefit in mind, our AI-driven platform provides users with an impartial outlook on the FX industry and helps them find the most suitable platform in a matter of seconds. We are happy to have on board the most renown brokers in the industry, who are ready to get an unbiased review of their work. Forex is a tough market, and we&nbsp;appreciate&nbsp;the fact that FBS was rated high by our in-house designed AI technology and placed among the top competitors, making it a good choice for traders around the world,"&nbsp;says&nbsp;FXonline.ai on FBS."We are pleased and proud to have our services rated so highly. It is especially rewarding to see proof of our professionalism manifested in&nbsp;an&nbsp;AI-driven analysis, that features unbiased research algorithms free from human interference. We will stick to our principles and values to keep providing our customers with the best trading services possible,"&nbsp;says&nbsp;Ksenia Molodkina, Strategic Marketing Director FBS.Over 14 years of dedicated work, FBS has won more than 75 international awards that are now enhanced by the&nbsp;<a href="https://fxonline.ai/?utm_source=fbs&amp;utm_medium=pressrelease&amp;utm_campaign=fbs_top" target="_blank" rel="nofollow">FXonline.ai</a>&nbsp;listing. To this day, FBS maintains a high level of service and customer support – more than 27 million traders and 500,000 partners work with FBS, and the numbers are growing.About FBS
FBS is a licensed worldwide broker with over 14 years of experience and more than 75 international awards. FBS is steadily developing as one of the market's most trusted brokers with its traders numbering more than 27,000,000 and its partners exceeding 500,000 throughout the globe. Its annual trading volume is over $8.9 trillion. FBS is also the Official Principal Partner of Leicester City Football Club.

AI Places FBS Among the World's Top Brokers

KUALA LUMPUR (May 5): CIMB Bank Bhd and CIMB Islamic Bank Bhd will increase their respective standardised base rates, base rates and fixed deposit/fixed return income Account-i board rates&nbsp;by 25 basis points effective from May 9.

In a statement on Friday (May 5), the banking group said&nbsp;the increase is in line with the increase in the overnight policy rate by 25 basis points by Bank Negara Malaysia to 3% on Wednesday.

Similarly, all financing facilities based on the base lending rate and base financing rate will be increased by 0.25%.

<h1>CIMB to raise base rates by 0.25% from May 9</h1>KUALA LUMPUR (May 5): CIMB Bank Bhd and CIMB Islamic Bank Bhd will increase their respective standardised base rates, base rates and fixed deposit/fixed return income Account-i board rates&nbsp;by 25 basis points effective from May 9.In a statement on Friday (May 5), the banking group said&nbsp;the increase is in line with the increase in the overnight policy rate by 25 basis points by Bank Negara Malaysia to 3% on Wednesday.Similarly, all financing facilities based on the base lending rate and base financing rate will be increased by 0.25%.

CIMB to raise base rates by 0.25% from May 9

KUALA LUMPUR, Malaysia,&nbsp;April 5, 2023-Luye Pharma Group (Luye Pharma), an international pharmaceutical company dedicated to the R&amp;D, manufacturing and sale of innovative medications, today announced that it has entered an agreement with Duopharma Marketing Sdn Bhd, a wholly-owned subsidiary of Duopharma Biotech Berhad (Duopharma Biotech), which grants the latter exclusive marketing and distribution rights to a cholesterol management product in&nbsp;Malaysia.

<a href="https://mma.prnasia.com/media2/2048093/Picture1.jpg?p=publish" target="_blank" rel="nofollow"></a>Luye Pharma and Duopharma Biotech Strategic Partnership Signing Ceremony

Developed by Luye Pharma, the product is a traditional Chinese medicine made by using modern technology to ferment special red yeast rice, a natural alternative for cholesterol management.&nbsp;

Through this partnership, Luye Pharma will be able to leverage Duopharma Biotech's long-term expertise in the cardiovascular therapeutic field, both in terms of its excellent promotion in academic and extensive distribution network throughout clinics and hospitals, further expanding the accessibility of the product in&nbsp;Malaysia. The two companies expect that the product will grow at a compound annual growth rate of double digits in the local market over the next 10 years.

Andy Siow, APAC Regional Director of Luye Pharma (International) said: "The product's efficacy has been widely recognized by doctors and patients over long-term clinical use in&nbsp;Malaysia. The partnership with Duopharma Biotech will enable this highly trusted and naturally produced traditional Chinese medicine to reach more patients in need."

"This partnership and collaboration with Luye Pharma enables all patients in&nbsp;Malaysia&nbsp;to have choices in the therapies and medications they need for their well-being." said Leonard Ariff&nbsp;Abdul&nbsp;Shatar, Group&nbsp;Managing&nbsp;Director,&nbsp;Duopharma&nbsp;Biotech&nbsp;Berhad.

Luye Pharma Group (Luye Pharma) is an international pharmaceutical company dedicated to the R&amp;D, manufacturing and sale of innovative medications. The company has established R&amp;D centers in&nbsp;China, the U.S. and&nbsp;Europe, with a robust pipeline of over 30 drug candidates in&nbsp;China&nbsp;and more than 10 drug candidates in other international markets. Luye Pharma maintains high-level international standards in novel drug delivery technologies including microspheres, liposomes, and transdermal drug delivery systems. The company has also achieved multiple innovations in new chemical entities and antibodies, and is actively making strategic developments in the fields of cell therapies and gene therapies.

Luye Pharma is developing a global supply chain of 8 manufacturing sites with over 30 production lines in total, establishing GMP quality management and international standard control systems. With more than 30 products covering the central nervous system, oncology, cardiovascular, metabolism and other therapeutic areas, business is conducted in over 80 countries and regions around the world, including the largest pharmaceutical markets -&nbsp;China, the U.S.,&nbsp;Europe&nbsp;and&nbsp;Japan, as well as in fast growing emerging markets.

For more information, please visit:&nbsp;<a href="http://www.luye.cn/lvye_en" target="_blank" rel="nofollow">www.luye.cn/lvye_en</a>

Duopharma Biotech Group ("Duopharma Biotech" or "the Company") began with the establishment of Duopharma (M) Sendirian Berhad in 1978. Duopharma Biotech was incorporated in 2000 and is today one of&nbsp;Malaysia's&nbsp;leading pharmaceutical companies listed on the Main Market of Bursa Malaysia Berhad. &nbsp;

Duopharma Biotech has core competencies in the pharmaceutical industry inclusive of Manufacturing, Research &amp; Development and Commercialisation &amp; Marketing of over 300 generic drugs such as Crystorvas, Prelica and Omesec as well as Consumer Healthcare ("CHC") products including CHAMPS®, FLAVETTES®, PROVITON®&nbsp;and Uphamol, which are well-recognised and accepted by consumers in&nbsp;Malaysia, regionally and globally. The Company has also diversified into the biosimilars space with technology and commercialisation collaborations with credible and strong international partners. ERYSAA®, Basalog One®, and Zuhera are a few commercialised biosimilar brands.

Headquartered in&nbsp;Kuala Lumpur, Malaysia, Duopharma Biotech owns and operates three manufacturing plants in Klang, Bangi and Glenmarie,&nbsp;Selangor. Duopharma Biotech also has subsidiary companies in&nbsp;the Philippines&nbsp;and&nbsp;Singapore. A subsidiary of Duopharma Biotech Berhad has a representative office in&nbsp;Jakarta, Indonesia.

Website:<a href="http://www.duopharmabiotech.com/" target="_blank" rel="nofollow">&nbsp;www.duopharmabiotech.com</a>

<h1>Luye Pharma and Duopharma Reach Strategic Partnership to Expand Accessibility of Cholesterol Management Products in Malaysia</h1>KUALA LUMPUR, Malaysia,&nbsp;April 5, 2023-Luye Pharma Group (Luye Pharma), an international pharmaceutical company dedicated to the R&amp;D, manufacturing and sale of innovative medications, today announced that it has entered an agreement with Duopharma Marketing Sdn Bhd, a wholly-owned subsidiary of Duopharma Biotech Berhad (Duopharma Biotech), which grants the latter exclusive marketing and distribution rights to a cholesterol management product in&nbsp;Malaysia.<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/Picture1.jpg" alt="Image"/><a href="https://mma.prnasia.com/media2/2048093/Picture1.jpg?p=publish" target="_blank" rel="nofollow"></a>Luye Pharma and Duopharma Biotech Strategic Partnership Signing CeremonyDeveloped by Luye Pharma, the product is a traditional Chinese medicine made by using modern technology to ferment special red yeast rice, a natural alternative for cholesterol management.&nbsp;Through this partnership, Luye Pharma will be able to leverage Duopharma Biotech's long-term expertise in the cardiovascular therapeutic field, both in terms of its excellent promotion in academic and extensive distribution network throughout clinics and hospitals, further expanding the accessibility of the product in&nbsp;Malaysia. The two companies expect that the product will grow at a compound annual growth rate of double digits in the local market over the next 10 years.Andy Siow, APAC Regional Director of Luye Pharma (International) said: "The product's efficacy has been widely recognized by doctors and patients over long-term clinical use in&nbsp;Malaysia. The partnership with Duopharma Biotech will enable this highly trusted and naturally produced traditional Chinese medicine to reach more patients in need.""This partnership and collaboration with Luye Pharma enables all patients in&nbsp;Malaysia&nbsp;to have choices in the therapies and medications they need for their well-being." said Leonard Ariff&nbsp;Abdul&nbsp;Shatar, Group&nbsp;Managing&nbsp;Director,&nbsp;Duopharma&nbsp;Biotech&nbsp;Berhad.About Luye Pharma GroupLuye Pharma Group (Luye Pharma) is an international pharmaceutical company dedicated to the R&amp;D, manufacturing and sale of innovative medications. The company has established R&amp;D centers in&nbsp;China, the U.S. and&nbsp;Europe, with a robust pipeline of over 30 drug candidates in&nbsp;China&nbsp;and more than 10 drug candidates in other international markets. Luye Pharma maintains high-level international standards in novel drug delivery technologies including microspheres, liposomes, and transdermal drug delivery systems. The company has also achieved multiple innovations in new chemical entities and antibodies, and is actively making strategic developments in the fields of cell therapies and gene therapies.Luye Pharma is developing a global supply chain of 8 manufacturing sites with over 30 production lines in total, establishing GMP quality management and international standard control systems. With more than 30 products covering the central nervous system, oncology, cardiovascular, metabolism and other therapeutic areas, business is conducted in over 80 countries and regions around the world, including the largest pharmaceutical markets -&nbsp;China, the U.S.,&nbsp;Europe&nbsp;and&nbsp;Japan, as well as in fast growing emerging markets.For more information, please visit:&nbsp;<a href="http://www.luye.cn/lvye_en" target="_blank" rel="nofollow">www.luye.cn/lvye_en</a>About Duopharma Biotech BerhadDuopharma Biotech Group ("Duopharma Biotech" or "the Company") began with the establishment of Duopharma (M) Sendirian Berhad in 1978. Duopharma Biotech was incorporated in 2000 and is today one of&nbsp;Malaysia's&nbsp;leading pharmaceutical companies listed on the Main Market of Bursa Malaysia Berhad. &nbsp;Duopharma Biotech has core competencies in the pharmaceutical industry inclusive of Manufacturing, Research &amp; Development and Commercialisation &amp; Marketing of over 300 generic drugs such as Crystorvas, Prelica and Omesec as well as Consumer Healthcare ("CHC") products including CHAMPS®, FLAVETTES®, PROVITON®&nbsp;and Uphamol, which are well-recognised and accepted by consumers in&nbsp;Malaysia, regionally and globally. The Company has also diversified into the biosimilars space with technology and commercialisation collaborations with credible and strong international partners. ERYSAA®, Basalog One®, and Zuhera are a few commercialised biosimilar brands.Headquartered in&nbsp;Kuala Lumpur, Malaysia, Duopharma Biotech owns and operates three manufacturing plants in Klang, Bangi and Glenmarie,&nbsp;Selangor. Duopharma Biotech also has subsidiary companies in&nbsp;the Philippines&nbsp;and&nbsp;Singapore. A subsidiary of Duopharma Biotech Berhad has a representative office in&nbsp;Jakarta, Indonesia.Website:<a href="http://www.duopharmabiotech.com/" target="_blank" rel="nofollow">&nbsp;www.duopharmabiotech.com</a>Source: Luye Pharma

Diet / Health food / Supplement

Medical / Hospital

Luye Pharma and Duopharma Reach Strategic Partnership to Expand Accessibility of Cholesterol Management Products in Malaysia

KUALA LUMPUR, Malaysia,&nbsp;April 4, 2023-&nbsp;Bukalapak, one of&nbsp;Indonesia's&nbsp;leading e-commerce companies, announced today that it has acquired a majority stake in iPrice,&nbsp;Southeast Asia's&nbsp;leading price comparison platform. Through this strategic investment, iPrice has the opportunity to accelerate its growth by leveraging the synergies between the two groups.

As e-commerce in&nbsp;Southeast Asia&nbsp;has been growing rapidly over the last decade individual verticals have become big enough to specialize in. Observing this trend, Bukalapak decided to shift its focus from competing head-to-head with other marketplaces, to building or acquiring niche marketplaces and accelerating their growth.

Over the last 8 years, iPrice has been building such a niche marketplace. Its relentless focus on the price-conscious consumers earned it a loyal place in&nbsp;Southeast Asia's&nbsp;shoppers' hearts. In 2022, it helped more than 100 million consumers across 7 countries in&nbsp;SouthEast Asia&nbsp;save money. Its proprietary technology surfaces the best deals and discounts from more than 8 billion offers in a market featuring a vast array of sale events and hard to navigate discount mechanisms.

"I've known David and the team for years and have always been excited about their work, then recently the opportunity emerged to work together more closely," said Willix Halim, CEO of Bukalapak. "With Bukalapak's extensive expertise in e-commerce and iPrice's loyal userbase and proprietary technology, we are confident that we can unlock the platform's full potential."

<a href="https://mma.prnasia.com/media2/2046017/The_team_priority_iPrice_finding_a_suitable_partner_unlock_future.jpg?p=publish" target="_blank" rel="nofollow"></a>The team has always been the first priority for iPrice when finding a suitable partner to unlock future growth

iPrice investors, amongst them Itochu and Naver, welcome the deal. The rapidly cooling fundraising market of last year forced iPrice to scale back on several aspects of its business and downsize the team substantially. It transformed to explore new ways to grow the businesses cost-effectively. This transition will now be accelerated by Bukalapak group's footing in a diverse set of verticals opening up many new opportunities.

Heinrich Wendel, Co-founder of iPrice, said, "We are excited to join forces with Bukalapak and benefit from the group's synergies. This partnership will allow us to expand our services to help even more users save money across new verticals, like Gaming, and geographies, like&nbsp;<a href="https://iprice.au/" target="_blank" rel="nofollow">Australia</a>."

iPrice will continue to operate as an independent entity, maintaining its neutral position towards users, and working with a broad set of merchants and sellers.

iPrice Group is&nbsp;Southeast Asia's&nbsp;leading online shopping companion, serving more than&nbsp;125m&nbsp;unique users across eight countries/regions&nbsp;namely&nbsp;<a href="https://iprice.my/" target="_blank" rel="nofollow">Malaysia</a>,<a href="https://iprice.sg/" target="_blank" rel="nofollow">&nbsp;Singapore</a>,<a href="https://iprice.co.id/" target="_blank" rel="nofollow">&nbsp;Indonesia</a>,<a href="https://ipricethailand.com/" target="_blank" rel="nofollow">&nbsp;Thailand</a>,<a href="https://iprice.ph/" target="_blank" rel="nofollow">&nbsp;Philippines</a>,<a href="https://iprice.vn/" target="_blank" rel="nofollow">&nbsp;Vietnam</a>,<a href="https://iprice.hk/" target="_blank" rel="nofollow">&nbsp;Hong Kong SAR,</a>&amp;&nbsp;<a href="https://iprice.au/" target="_blank" rel="nofollow">Australia</a>. With a mission to "Help People Save Money", iPrice aids shoppers by comparing prices, promotions &amp; seller discounts across its vast catalogue of 8bn offers from thousands of sellers &amp; merchants.

BUKA is a group of tech-based companies and a technology super-enabler for&nbsp;Indonesia's&nbsp;MSME transformation and various business verticals.&nbsp;

Building on our heritage serving more than 110 million users and over 22 million Indonesian MSMEs through our various solutions, and as the first publicly-listed Indonesian technology company, we are now focused squarely on using technology to enable today's digital lifestyles for both Indonesian MSMEs as well as Indonesians in general, across numerous verticals from marketplace, finance and fintech, offline to online, merchant solutions and procurement.&nbsp;

Utilizing our more than a decade long of technology innovation for Indonesian consumers and businesses, BUKA is a tech enabler and fuel of&nbsp;Indonesia's&nbsp;digital transformation engine.

For more information on BUKA, visit&nbsp;<a href="https://about.bukalapak.com/en/" target="_blank" rel="nofollow">about.bukalapak.com&nbsp;</a>

<h1>Bukalapak takes majority stake in iPrice, accelerating the growth of the popular price comparison platform</h1>KUALA LUMPUR, Malaysia,&nbsp;April 4, 2023-&nbsp;Bukalapak, one of&nbsp;Indonesia's&nbsp;leading e-commerce companies, announced today that it has acquired a majority stake in iPrice,&nbsp;Southeast Asia's&nbsp;leading price comparison platform. Through this strategic investment, iPrice has the opportunity to accelerate its growth by leveraging the synergies between the two groups.As e-commerce in&nbsp;Southeast Asia&nbsp;has been growing rapidly over the last decade individual verticals have become big enough to specialize in. Observing this trend, Bukalapak decided to shift its focus from competing head-to-head with other marketplaces, to building or acquiring niche marketplaces and accelerating their growth.Over the last 8 years, iPrice has been building such a niche marketplace. Its relentless focus on the price-conscious consumers earned it a loyal place in&nbsp;Southeast Asia's&nbsp;shoppers' hearts. In 2022, it helped more than 100 million consumers across 7 countries in&nbsp;SouthEast Asia&nbsp;save money. Its proprietary technology surfaces the best deals and discounts from more than 8 billion offers in a market featuring a vast array of sale events and hard to navigate discount mechanisms."I've known David and the team for years and have always been excited about their work, then recently the opportunity emerged to work together more closely," said Willix Halim, CEO of Bukalapak. "With Bukalapak's extensive expertise in e-commerce and iPrice's loyal userbase and proprietary technology, we are confident that we can unlock the platform's full potential."<img style="max-width:100%;height:auto;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/The_team_priority_iPrice_finding_a_suitable_partner_unlock_future.jpg" alt="Image"/><a href="https://mma.prnasia.com/media2/2046017/The_team_priority_iPrice_finding_a_suitable_partner_unlock_future.jpg?p=publish" target="_blank" rel="nofollow"></a>The team has always been the first priority for iPrice when finding a suitable partner to unlock future growthiPrice investors, amongst them Itochu and Naver, welcome the deal. The rapidly cooling fundraising market of last year forced iPrice to scale back on several aspects of its business and downsize the team substantially. It transformed to explore new ways to grow the businesses cost-effectively. This transition will now be accelerated by Bukalapak group's footing in a diverse set of verticals opening up many new opportunities.Heinrich Wendel, Co-founder of iPrice, said, "We are excited to join forces with Bukalapak and benefit from the group's synergies. This partnership will allow us to expand our services to help even more users save money across new verticals, like Gaming, and geographies, like&nbsp;<a href="https://iprice.au/" target="_blank" rel="nofollow">Australia</a>."iPrice will continue to operate as an independent entity, maintaining its neutral position towards users, and working with a broad set of merchants and sellers.About iPrice GroupiPrice Group is&nbsp;Southeast Asia's&nbsp;leading online shopping companion, serving more than&nbsp;125m&nbsp;unique users across eight countries/regions&nbsp;namely&nbsp;<a href="https://iprice.my/" target="_blank" rel="nofollow">Malaysia</a>,<a href="https://iprice.sg/" target="_blank" rel="nofollow">&nbsp;Singapore</a>,<a href="https://iprice.co.id/" target="_blank" rel="nofollow">&nbsp;Indonesia</a>,<a href="https://ipricethailand.com/" target="_blank" rel="nofollow">&nbsp;Thailand</a>,<a href="https://iprice.ph/" target="_blank" rel="nofollow">&nbsp;Philippines</a>,<a href="https://iprice.vn/" target="_blank" rel="nofollow">&nbsp;Vietnam</a>,<a href="https://iprice.hk/" target="_blank" rel="nofollow">&nbsp;Hong Kong SAR,</a>&amp;&nbsp;<a href="https://iprice.au/" target="_blank" rel="nofollow">Australia</a>. With a mission to "Help People Save Money", iPrice aids shoppers by comparing prices, promotions &amp; seller discounts across its vast catalogue of 8bn offers from thousands of sellers &amp; merchants.About&nbsp;BukalapakBUKA is a group of tech-based companies and a technology super-enabler for&nbsp;Indonesia's&nbsp;MSME transformation and various business verticals.&nbsp;Building on our heritage serving more than 110 million users and over 22 million Indonesian MSMEs through our various solutions, and as the first publicly-listed Indonesian technology company, we are now focused squarely on using technology to enable today's digital lifestyles for both Indonesian MSMEs as well as Indonesians in general, across numerous verticals from marketplace, finance and fintech, offline to online, merchant solutions and procurement.&nbsp;Utilizing our more than a decade long of technology innovation for Indonesian consumers and businesses, BUKA is a tech enabler and fuel of&nbsp;Indonesia's&nbsp;digital transformation engine.For more information on BUKA, visit&nbsp;<a href="https://about.bukalapak.com/en/" target="_blank" rel="nofollow">about.bukalapak.com&nbsp;</a>Source: iPrice Group Sdn Bhd