As Malaysia progresses with its digital transformation, e-invoicing compliance has become a critical consideration for finance leaders. The government's push toward mandatory e-invoicing is a step to streamline tax processes and enhance transparency. Beyond regulatory requirements, e-invoicing allows finance teams to improve operational efficiency, reduce errors, and gain real-time financial insights. This guide provides a comprehensive overview of e-invoicing compliance in Malaysia, focusing on how finance leaders can prepare for and benefit from this transition.

E-Invoicing Compliance in Malaysia: Key Steps

Malaysia's e-invoicing compliance mandate requires businesses to adopt digital invoicing processes. This move aims to enhance tax transparency, improve accuracy in reporting, and align Malaysian businesses with global digital standards.

Compliance isn't just about following regulations; it also offers significant operational and strategic benefits. By minimizing errors, streamlining audits, and improving cash flow, <a href="https://gsthero.com/my/">e-invoicing compliance for Malaysia</a> brings long-term value to financial operations.

To meet Compliance, businesses need to adopt specific processes and standards that align with the government's guidelines:

All e-invoices must follow a prescribed format to ensure uniformity in submissions.

Each invoice should undergo validation checks before submission, preventing rejections due to errors.

E-invoices must be submitted through approved platforms that ensure data security and Compliance.

Companies must store e-invoices securely for easy retrieval during audits or reviews.

Implementing e-invoicing compliance may pose several challenges, especially for businesses integrating it with existing processes:

Many organizations need help aligning new e-invoicing systems with existing ERPs (e.g., SAP, Oracle). Choosing a compatible solution is critical to avoid workflow disruptions.

With digital invoicing, businesses must prioritize data protection to secure sensitive financial information.

Training finance teams on new digital processes ensures smooth adaptation and reduces operational disruptions.

4. Strategic Benefits of E-Invoicing Compliance

Beyond regulatory adherence, e-invoicing compliance for Malaysia offers a range of advantages that support operational efficiency and financial clarity:

Automation reduces manual data entry, minimizing errors that could lead to costly corrections.

Faster invoice processing results in quicker payments, which boosts cash flow control and predictability.

Digital records make it easy to retrieve transaction histories, simplifying audits and enhancing financial transparency.

5. Action Plan for Finance Leaders

To prepare for Malaysia's e-invoicing compliance, finance leaders should follow a structured plan to ensure a seamless transition:

Evaluate existing invoicing and financial processes to identify integration needs.

Opt for an e-invoicing solution that meets regulatory standards, offers data validation, and ensures secure submission.

Provide training for the finance team and implement regular compliance checks to ensure processes align with evolving requirements.

Critical Phases of Malaysia's E-Invoicing Mandate: A Timeline to Follow

Malaysia's e-invoicing mandate is set to roll out in phases, targeting different business segments over time. Finance leaders should stay updated on this timeline to ensure compliance readiness and proper resource allocation.

Phase 1 – Large Enterprises: The initial focus is on more giant corporations with the resources to implement e-invoicing systems swiftly.

Phase 2 – SMEs and Mid-Sized Businesses: The following phases will include smaller businesses, allowing additional time for preparation.

Full Compliance: All businesses will eventually need to comply, regardless of size, making it crucial to plan early.

Planning according to each phase helps finance teams manage resources efficiently and integrate compliance measures smoothly into daily operations.

Compliance Requirements for E-Invoicing in Malaysia

To meet e-invoicing compliance, finance teams must implement systems that adhere to specific requirements:

Invoice Standardization: E-invoices should be generated in the format specified by tax authorities, ensuring submission consistency.

Automated Data Validation: Each invoice must pass validation checks to avoid rejections due to errors or missing information.

Secure and Compliant Submission: E-invoices should be securely submitted directly to tax authorities through approved e-invoicing platforms.

Digital Storage for Audits: E-invoices need to be stored in a way that is secure yet easily accessible for audits and reviews.

Investing in an e-invoicing solution that fulfills these compliance requirements is essential for efficient and error-free financial management.

Addressing Common E-Invoicing Compliance Challenges

Implementing e-invoicing compliance involves aligning current processes with new requirements. Key challenges include:

System Integration: Choosing an e-invoicing solution that integrates seamlessly with existing ERP systems like SAP, Oracle, or Netsuite is crucial to avoid workflow disruptions.

Data Security and Compliance: With digital transactions, maintaining data security is essential to protect sensitive financial information.

Team Training: Transitioning to a digital invoicing system requires thorough training for the finance team to minimize disruptions.

Addressing these challenges early on allows finance teams to maintain Compliance while streamlining their operations.

Preparing for E-Invoicing Compliance: An Action Plan

An effective e-invoicing compliance strategy starts with proactive preparation. Here's a step-by-step plan for finance leaders:

Evaluate Existing Financial Systems: To understand integration needs, assess your current invoicing and financial systems.

Select a Compliance-Ready E-Invoicing Solution: Choose a solution that meets Malaysian regulatory standards, offers automated data validation, and ensures secure submission.

Enhance Data Security Protocols: Implement robust cybersecurity measures to protect sensitive financial data.

Train Finance Teams: Provide training to ensure the finance team is prepared to operate new systems effectively.

Monitor Compliance Regularly: Review e-invoicing processes to ensure they remain compliant, especially as new regulatory updates arise.

By adopting this approach, finance leaders can ensure a smooth transition to e-invoicing compliance and maintain operational continuity.

Strategic Benefits of E-Invoicing Compliance for Finance Teams

E-invoicing compliance provides several strategic advantages for finance teams, enabling them to shift from a transactional role to a more strategic one:

Real-Time Financial Insights: E-invoicing offers real-time invoicing data access, aiding in cash flow management and strategic planning.

Simplified Audit Process: Digital records streamline audit processes, reducing preparation time and resources.

Improved Cash Flow Cycles: E-invoicing reduces manual processing times, accelerating the payment cycle and enhancing cash flow predictability.

Proactive Compliance Management: Automated systems can alert teams to compliance issues, reducing the risk of penalties due to late or erroneous submissions.

These benefits allow finance teams to strengthen financial stability while positioning themselves as strategic partners within the business.

Conclusion: Leading E-Invoicing Compliance in Malaysia

Malaysia's e-invoicing mandate represents a new era of financial transparency and efficiency. Compliance with e-invoicing requirements is mandatory and offers significant operational and strategic advantages. For finance leaders, navigating this shift requires adopting the right tools, investing in team training, and continuously monitoring compliance processes. By embracing e-invoicing compliance, finance teams can drive improved financial management, reduce costs, and enhance overall business resilience in today's digital landscape.

What is e-invoicing compliance, and why is it required in Malaysia?

E-invoicing compliance in Malaysia mandates digital invoicing to improve tax reporting and transparency and reduce errors, aligning with global digital tax standards.

How does e-invoicing compliance benefit finance teams in Malaysia?

E-invoicing compliance provides real-time data access, streamlines payment cycles, reduces errors, and simplifies audit processes, freeing finance teams for strategic tasks.

What are the phases of the e-invoicing compliance rollout in Malaysia?

The rollout begins with large enterprises, followed by SMEs, with Compliance eventually required for all businesses, ensuring adequate time for each phase.

What challenges should finance teams expect with e-invoicing compliance implementation?

Managing initial costs, though these efforts yield long-term efficiency.

How can businesses prepare for e-invoicing compliance in Malaysia?

Start by assessing financial systems, selecting a compliant e-invoicing solution, securing data, training teams, and monitoring compliance processes for a smooth transition.

As Malaysia progresses with its digital transformation, e-invoicing compliance has become a critical consideration for finance leaders. The government's push toward mandatory e-invoicing is a step to streamline tax processes and enhance transparency. Beyond regulatory requirements, e-invoicing allows finance teams to improve operational efficiency, reduce errors, and gain real-time financial insights. This guide provides a comprehensive overview of e-invoicing compliance in Malaysia, focusing on how finance leaders can prepare for and benefit from this transition.<h2>E-Invoicing Compliance in Malaysia: Key Steps</h2>1. Understanding the MandateMalaysia's e-invoicing compliance mandate requires businesses to adopt digital invoicing processes. This move aims to enhance tax transparency, improve accuracy in reporting, and align Malaysian businesses with global digital standards.Why It MattersCompliance isn't just about following regulations; it also offers significant operational and strategic benefits. By minimizing errors, streamlining audits, and improving cash flow, <a href="https://gsthero.com/my/">e-invoicing compliance for Malaysia</a> brings long-term value to financial operations.2. Key Compliance RequirementsTo meet Compliance, businesses need to adopt specific processes and standards that align with the government's guidelines:Invoice StandardizationAll e-invoices must follow a prescribed format to ensure uniformity in submissions.Data ValidationEach invoice should undergo validation checks before submission, preventing rejections due to errors.Secure SubmissionE-invoices must be submitted through approved platforms that ensure data security and Compliance.Digital StorageCompanies must store e-invoices securely for easy retrieval during audits or reviews.3. Implementation ChallengesImplementing e-invoicing compliance may pose several challenges, especially for businesses integrating it with existing processes:System IntegrationMany organizations need help aligning new e-invoicing systems with existing ERPs (e.g., SAP, Oracle). Choosing a compatible solution is critical to avoid workflow disruptions.Data SecurityWith digital invoicing, businesses must prioritize data protection to secure sensitive financial information.Team TrainingTraining finance teams on new digital processes ensures smooth adaptation and reduces operational disruptions.4. Strategic Benefits of E-Invoicing ComplianceBeyond regulatory adherence, e-invoicing compliance for Malaysia offers a range of advantages that support operational efficiency and financial clarity:Reduced ErrorsAutomation reduces manual data entry, minimizing errors that could lead to costly corrections.Improved Cash FlowFaster invoice processing results in quicker payments, which boosts cash flow control and predictability.Enhanced TransparencyDigital records make it easy to retrieve transaction histories, simplifying audits and enhancing financial transparency.5. Action Plan for Finance LeadersTo prepare for Malaysia's e-invoicing compliance, finance leaders should follow a structured plan to ensure a seamless transition:Assess Current SystemsEvaluate existing invoicing and financial processes to identify integration needs.Select a Compliance-Ready SolutionOpt for an e-invoicing solution that meets regulatory standards, offers data validation, and ensures secure submission.Train and MonitorProvide training for the finance team and implement regular compliance checks to ensure processes align with evolving requirements.<h3>Critical Phases of Malaysia's E-Invoicing Mandate: A Timeline to Follow</h3>Malaysia's e-invoicing mandate is set to roll out in phases, targeting different business segments over time. Finance leaders should stay updated on this timeline to ensure compliance readiness and proper resource allocation.Phase 1 – Large Enterprises: The initial focus is on more giant corporations with the resources to implement e-invoicing systems swiftly.Phase 2 – SMEs and Mid-Sized Businesses: The following phases will include smaller businesses, allowing additional time for preparation.Full Compliance: All businesses will eventually need to comply, regardless of size, making it crucial to plan early.Planning according to each phase helps finance teams manage resources efficiently and integrate compliance measures smoothly into daily operations.<h3>Compliance Requirements for E-Invoicing in Malaysia</h3>To meet e-invoicing compliance, finance teams must implement systems that adhere to specific requirements:Invoice Standardization: E-invoices should be generated in the format specified by tax authorities, ensuring submission consistency.Automated Data Validation: Each invoice must pass validation checks to avoid rejections due to errors or missing information.Secure and Compliant Submission: E-invoices should be securely submitted directly to tax authorities through approved e-invoicing platforms.Digital Storage for Audits: E-invoices need to be stored in a way that is secure yet easily accessible for audits and reviews.Investing in an e-invoicing solution that fulfills these compliance requirements is essential for efficient and error-free financial management.<h3>Addressing Common E-Invoicing Compliance Challenges</h3>Implementing e-invoicing compliance involves aligning current processes with new requirements. Key challenges include:System Integration: Choosing an e-invoicing solution that integrates seamlessly with existing ERP systems like SAP, Oracle, or Netsuite is crucial to avoid workflow disruptions.Data Security and Compliance: With digital transactions, maintaining data security is essential to protect sensitive financial information.Team Training: Transitioning to a digital invoicing system requires thorough training for the finance team to minimize disruptions.Addressing these challenges early on allows finance teams to maintain Compliance while streamlining their operations.<h3>Preparing for E-Invoicing Compliance: An Action Plan</h3>An effective e-invoicing compliance strategy starts with proactive preparation. Here's a step-by-step plan for finance leaders:Evaluate Existing Financial Systems: To understand integration needs, assess your current invoicing and financial systems.Select a Compliance-Ready E-Invoicing Solution: Choose a solution that meets Malaysian regulatory standards, offers automated data validation, and ensures secure submission.Enhance Data Security Protocols: Implement robust cybersecurity measures to protect sensitive financial data.Train Finance Teams: Provide training to ensure the finance team is prepared to operate new systems effectively.Monitor Compliance Regularly: Review e-invoicing processes to ensure they remain compliant, especially as new regulatory updates arise.By adopting this approach, finance leaders can ensure a smooth transition to e-invoicing compliance and maintain operational continuity.<h2>Strategic Benefits of E-Invoicing Compliance for Finance Teams</h2>E-invoicing compliance provides several strategic advantages for finance teams, enabling them to shift from a transactional role to a more strategic one:Real-Time Financial Insights: E-invoicing offers real-time invoicing data access, aiding in cash flow management and strategic planning.Simplified Audit Process: Digital records streamline audit processes, reducing preparation time and resources.Improved Cash Flow Cycles: E-invoicing reduces manual processing times, accelerating the payment cycle and enhancing cash flow predictability.Proactive Compliance Management: Automated systems can alert teams to compliance issues, reducing the risk of penalties due to late or erroneous submissions.These benefits allow finance teams to strengthen financial stability while positioning themselves as strategic partners within the business.<h3>Conclusion: Leading E-Invoicing Compliance in Malaysia</h3>Malaysia's e-invoicing mandate represents a new era of financial transparency and efficiency. Compliance with e-invoicing requirements is mandatory and offers significant operational and strategic advantages. For finance leaders, navigating this shift requires adopting the right tools, investing in team training, and continuously monitoring compliance processes. By embracing e-invoicing compliance, finance teams can drive improved financial management, reduce costs, and enhance overall business resilience in today's digital landscape.<h3>FAQ</h3><h2>What is e-invoicing compliance, and why is it required in Malaysia?</h2>E-invoicing compliance in Malaysia mandates digital invoicing to improve tax reporting and transparency and reduce errors, aligning with global digital tax standards.<h2>How does e-invoicing compliance benefit finance teams in Malaysia?</h2>E-invoicing compliance provides real-time data access, streamlines payment cycles, reduces errors, and simplifies audit processes, freeing finance teams for strategic tasks.<h2>What are the phases of the e-invoicing compliance rollout in Malaysia?</h2>The rollout begins with large enterprises, followed by SMEs, with Compliance eventually required for all businesses, ensuring adequate time for each phase.<h2>What challenges should finance teams expect with e-invoicing compliance implementation?</h2>Key challenges include:Integrating new software.Ensuring data security.Training teams.Managing initial costs, though these efforts yield long-term efficiency.<h2>How can businesses prepare for e-invoicing compliance in Malaysia?</h2>Start by assessing financial systems, selecting a compliant e-invoicing solution, securing data, training teams, and monitoring compliance processes for a smooth transition.

Software

Listed companies

Government offices / organizations

SMEs

Cloud service

e-Invoicing Compliance in Malaysia: What Business Need to Know

As Malaysia’s startup scene flourishes, local companies are realizing that the domestic market, while promising, may not be enough to fuel long-term success. For many, the answer lies in expanding regionally to tap into Southeast Asia's vast potential. However, the path is not without its challenges. Both Venture Capital (VC) and Corporate Venture Capital (CVC) are facing growing obstacles in smaller Southeast Asian markets like Vietnam, Thailand, Malaysia, and the Philippines, where traditional paths to IPOs and M&amp;A exits are proving elusive.

As these emerging economies continue to develop, it’s clear that the time to act is now. Companies that prioritize regional scalability early are more likely to attract investor interest and secure sustainable growth paths. Without a regional expansion plan, Malaysian startups and companies risk hitting a growth ceiling that may limit future funding and exit opportunities.

Kailash Raghuwanshi is a seasoned business strategist with over fifteen years of experience across Southeast Asia, the US, and China. Known to many as “Kai,” he has built a reputation for guiding companies through complex growth challenges in rapidly evolving markets. A New York graduate, Kailash’s expertise spans diverse sectors, including fintech in Indonesia, high-impact joint ventures in Vietnam, and launching an American digital marketing company JV in Vietnam. As a thought leader and speaker, Kailash has contributed to Vietnam’s Ministry-affiliated SIHUB and has advised through the Mranti (Malaysia)-Kumpul (Indonesia) partnership program, fostering cross-border collaboration in the region. He also served as a Director at a Shanghai-based public health venture backed by the Gates Foundation, where he gained valuable experience in impact-driven innovation.

A decade ago, Kailash was instrumental in consulting for vOffice’s teams in Malaysia-Indonesia&nbsp;and contributed to Rocket Internet’s pioneering team in Malaysia, helping at PMO level with Zalora, Lazada, and Foodpanda. His extensive work with VCs and CVCs positions him as a leader in exploring innovative growth models for Southeast Asia’s unique challenges. For more insights, visit<a href="http://www.kairaghu.com"> kairaghu.com</a>.

We sat down with Kailash to explore why regional expansion is essential for Malaysian startups and companies seeking sustainable growth and viable exit opportunities.

Q: Kailash, why is regional expansion so crucial for Malaysian businesses, especially now?

Kailash: Malaysia is an excellent market to start in, but it’s ultimately limited by its population of 32 million. For companies aiming to grow sustainably, thinking regionally is essential. A great example is Carsome, Malaysia’s first tech unicorn, which began as a used car platform and expanded across Southeast Asia. Carsome now operates in multiple countries, including Indonesia and Thailand, and offers end-to-end solutions for car buying and selling. Their regional expansion has allowed them to tap into larger markets, secure significant funding, and become a recognizable brand across the region. Without a regional focus, Carsome might not have achieved this scale or investor appeal.

Similarly, Grab, another company that started in Malaysia, recognized the potential of Southeast Asia’s interconnected markets early on. Grab’s expansion across eight countries transformed it from a local ride-hailing service to a multi-country super-app serving over 600 million people. Both Carsome and Grab show that regional growth isn’t just beneficial—it’s essential for Malaysian companies that want to achieve long-term, scalable success.

For Malaysian startups and companies, going regional is not just about scaling—it’s also crucial for securing viable exit opportunities. Local-only businesses often face limited exit options, as Malaysia’s market size restricts large IPOs and major acquisitions, making it harder for investors to see substantial returns. Companies that scale regionally are far more attractive to investors who want to see a clear path to exit, whether through acquisitions or IPOs in larger markets.

Q: Why is Malaysia in a particularly tricky situation right now, compared to other Southeast Asian markets?

Kailash: Malaysia’s market size is both a strength and a limitation. With a population of 32 million, it’s larger than Singapore but significantly smaller than Indonesia or the Philippines. This middle-ground size means that while there is enough demand to support startups initially, growth reaches a ceiling quickly. Unlike larger markets where companies can sustain themselves by dominating locally, Malaysia’s market size often isn’t enough to fuel sustained, high-scale growth.

Moreover, the VC and CVC landscape is evolving. Investors are cautious about local-only businesses that lack regional or global scalability, as they see more limited exit opportunities. Traditional paths to exits, like IPOs or large-scale mergers and acquisitions, are not as robust here as they are in larger economies. This has created a ticking clock for Malaysian companies: if they want to secure funding and attract regional or international investors, they need to expand beyond Malaysia sooner rather than later.

Q: How do Carsome and Grab’s regional strategies compare to Gojek’s approach in Indonesia?

Kailash: Carsome and Grab took a regional-first approach, expanding across Southeast Asia to capture a larger market. Carsome, for instance, started with a Malaysia-based used car platform and grew into multiple Southeast Asian countries, building a strong regional brand and attracting significant investments. Grab similarly leveraged its Malaysian origins to establish a broad presence across the region, positioning itself as a super-app.

Gojek, by contrast, focused on dominating its home market of Indonesia, Southeast Asia’s largest with 275 million people. Gojek embedded itself deeply into the Indonesian ecosystem, becoming a staple in daily life but hasn’t achieved the same international reach as Carsome or Grab. For Malaysian companies, which operate in a smaller home market, a regional approach like Carsome’s or Grab’s is more scalable and sustainable.

Q: What makes Southeast Asia such an attractive region for Malaysian companies to target?

Kailash: Southeast Asia is a region with 650 million people and a combined GDP of nearly $3 trillion. Expanding into markets like Vietnam (97 million people), Thailand (70 million), and the Philippines (113 million) can significantly increase a company’s reach and revenue potential. The region’s high level of digital connectivity, with 440 million internet users, creates unique opportunities for digital and mobile-first companies.

Additionally, smaller markets like Cambodia (17 million) and Laos (7 million) offer fertile ground for early movers. For Malaysian companies, these markets represent a chance to establish a presence and capture market share before larger players step in.

Q: What advice would you give to Malaysian startups and companies looking to expand regionally?

Kailash: Start with a regional mindset from day one. Design your business and brand to appeal to customers across Southeast Asia’s diverse markets. Both Carsome and Grab structured their offerings to be adaptable across different countries, which allowed for smoother expansion.

Second, forge strategic partnerships. Partnering with local companies can ease entry into new markets by helping to navigate regulatory challenges and establish local credibility quickly.

Lastly, prioritize a mobile-first approach. Southeast Asia is highly mobile-centric, with most of the digital audience connecting through smartphones. Adapting to this digital landscape is essential for capturing a broad audience.

Q: How can VC and CVC support play a role in helping Malaysian companies go regional?

Kailash: VC and CVC partnerships are crucial, especially for companies looking to enter unfamiliar territories. For Malaysian startups, finding investors who understand the regional landscape can provide not only funding but also strategic connections and market insights. However, it’s essential for startups to retain strategic independence and ensure that these partnerships support, rather than restrict, their regional growth.

Q: What’s your final takeaway for Malaysian startups, VCs, and corporates interested in regional expansion?

Kailash: Southeast Asia is rich with opportunities, but capturing them requires urgency and a regional-first mindset. Malaysian startups should embrace this approach early—don’t wait until you’ve maxed out the local market to consider expansion. By positioning for regional growth, companies can become more resilient and appealing to investors who are looking for scalable, multi-market ventures.

In short: aim big, act regionally, and leverage strategic partnerships. Southeast Asia’s diversity and dynamism provide a clear path to success for those ready to cross borders. Carsome and Grab’s journeys are testaments to what’s possible, and Malaysian companies can carve their own path to regional impact by following a similar model.

As Malaysia’s startup scene flourishes, local companies are realizing that the domestic market, while promising, may not be enough to fuel long-term success. For many, the answer lies in expanding regionally to tap into Southeast Asia's vast potential. However, the path is not without its challenges. Both Venture Capital (VC) and Corporate Venture Capital (CVC) are facing growing obstacles in smaller Southeast Asian markets like Vietnam, Thailand, Malaysia, and the Philippines, where traditional paths to IPOs and M&A exits are proving elusive.We sat down with Kailash to explore why regional expansion is essential for Malaysian startups and companies seeking sustainable growth and viable exit opportunities.Kailash Raghuwanshi is a seasoned business strategist with over fifteen years of experience across Southeast Asia, the US, and China. Known to many as “Kai,” he has built a reputation for guiding companies through complex growth challenges in rapidly evolving markets. As Malaysia’s startup scene flourishes, local companies are realizing that the domestic market, while promising, may not be enough to fuel long-term success. For many, the answer lies in expanding regionally to tap into Southeast Asia's vast potential. However, the path is not without its challenges. Both Venture Capital (VC) and Corporate Venture Capital (CVC) are facing growing obstacles in smaller Southeast Asian markets like Vietnam, Thailand, Malaysia, and the Philippines, where traditional paths to IPOs and M&amp;A exits are proving elusive.As these emerging economies continue to develop, it’s clear that the time to act is now. Companies that prioritize regional scalability early are more likely to attract investor interest and secure sustainable growth paths. Without a regional expansion plan, Malaysian startups and companies risk hitting a growth ceiling that may limit future funding and exit opportunities.Kailash Raghuwanshi is a seasoned business strategist with over fifteen years of experience across Southeast Asia, the US, and China. Known to many as “Kai,” he has built a reputation for guiding companies through complex growth challenges in rapidly evolving markets. A New York graduate, Kailash’s expertise spans diverse sectors, including fintech in Indonesia, high-impact joint ventures in Vietnam, and launching an American digital marketing company JV in Vietnam. As a thought leader and speaker, Kailash has contributed to Vietnam’s Ministry-affiliated SIHUB and has advised through the Mranti (Malaysia)-Kumpul (Indonesia) partnership program, fostering cross-border collaboration in the region. He also served as a Director at a Shanghai-based public health venture backed by the Gates Foundation, where he gained valuable experience in impact-driven innovation.A decade ago, Kailash was instrumental in consulting for vOffice’s teams in Malaysia-Indonesia&nbsp;and contributed to Rocket Internet’s pioneering team in Malaysia, helping at PMO level with Zalora, Lazada, and Foodpanda. His extensive work with VCs and CVCs positions him as a leader in exploring innovative growth models for Southeast Asia’s unique challenges. For more insights, visit<a href="http://www.kairaghu.com"> kairaghu.com</a>.We sat down with Kailash to explore why regional expansion is essential for Malaysian startups and companies seeking sustainable growth and viable exit opportunities.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/eeb870c7-6b77-4969-dbec-4e565e18e700/public" alt="Kailash book has been rated as the best 8 books on the topic of growth expansion and strategies in SouthEastAsia by a media group.&nbsp;" />Q: Kailash, why is regional expansion so crucial for Malaysian businesses, especially now?Kailash: Malaysia is an excellent market to start in, but it’s ultimately limited by its population of 32 million. For companies aiming to grow sustainably, thinking regionally is essential. A great example is Carsome, Malaysia’s first tech unicorn, which began as a used car platform and expanded across Southeast Asia. Carsome now operates in multiple countries, including Indonesia and Thailand, and offers end-to-end solutions for car buying and selling. Their regional expansion has allowed them to tap into larger markets, secure significant funding, and become a recognizable brand across the region. Without a regional focus, Carsome might not have achieved this scale or investor appeal.Similarly, Grab, another company that started in Malaysia, recognized the potential of Southeast Asia’s interconnected markets early on. Grab’s expansion across eight countries transformed it from a local ride-hailing service to a multi-country super-app serving over 600 million people. Both Carsome and Grab show that regional growth isn’t just beneficial—it’s essential for Malaysian companies that want to achieve long-term, scalable success.For Malaysian startups and companies, going regional is not just about scaling—it’s also crucial for securing viable exit opportunities. Local-only businesses often face limited exit options, as Malaysia’s market size restricts large IPOs and major acquisitions, making it harder for investors to see substantial returns. Companies that scale regionally are far more attractive to investors who want to see a clear path to exit, whether through acquisitions or IPOs in larger markets.Q: Why is Malaysia in a particularly tricky situation right now, compared to other Southeast Asian markets?Kailash: Malaysia’s market size is both a strength and a limitation. With a population of 32 million, it’s larger than Singapore but significantly smaller than Indonesia or the Philippines. This middle-ground size means that while there is enough demand to support startups initially, growth reaches a ceiling quickly. Unlike larger markets where companies can sustain themselves by dominating locally, Malaysia’s market size often isn’t enough to fuel sustained, high-scale growth.Moreover, the VC and CVC landscape is evolving. Investors are cautious about local-only businesses that lack regional or global scalability, as they see more limited exit opportunities. Traditional paths to exits, like IPOs or large-scale mergers and acquisitions, are not as robust here as they are in larger economies. This has created a ticking clock for Malaysian companies: if they want to secure funding and attract regional or international investors, they need to expand beyond Malaysia sooner rather than later.Q: How do Carsome and Grab’s regional strategies compare to Gojek’s approach in Indonesia?Kailash: Carsome and Grab took a regional-first approach, expanding across Southeast Asia to capture a larger market. Carsome, for instance, started with a Malaysia-based used car platform and grew into multiple Southeast Asian countries, building a strong regional brand and attracting significant investments. Grab similarly leveraged its Malaysian origins to establish a broad presence across the region, positioning itself as a super-app.Gojek, by contrast, focused on dominating its home market of Indonesia, Southeast Asia’s largest with 275 million people. Gojek embedded itself deeply into the Indonesian ecosystem, becoming a staple in daily life but hasn’t achieved the same international reach as Carsome or Grab. For Malaysian companies, which operate in a smaller home market, a regional approach like Carsome’s or Grab’s is more scalable and sustainable.Q: What makes Southeast Asia such an attractive region for Malaysian companies to target?Kailash: Southeast Asia is a region with 650 million people and a combined GDP of nearly $3 trillion. Expanding into markets like Vietnam (97 million people), Thailand (70 million), and the Philippines (113 million) can significantly increase a company’s reach and revenue potential. The region’s high level of digital connectivity, with 440 million internet users, creates unique opportunities for digital and mobile-first companies.Additionally, smaller markets like Cambodia (17 million) and Laos (7 million) offer fertile ground for early movers. For Malaysian companies, these markets represent a chance to establish a presence and capture market share before larger players step in.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/4a0388ad-8ce1-4d5c-e07c-85ad470bc600/public" alt="A while ago, CNBC featured Kailash Raghuwanshi to discuss growth strategies and regional expansion topics for startups and companies&nbsp;" />Q: What advice would you give to Malaysian startups and companies looking to expand regionally?Kailash: Start with a regional mindset from day one. Design your business and brand to appeal to customers across Southeast Asia’s diverse markets. Both Carsome and Grab structured their offerings to be adaptable across different countries, which allowed for smoother expansion.Second, forge strategic partnerships. Partnering with local companies can ease entry into new markets by helping to navigate regulatory challenges and establish local credibility quickly.Lastly, prioritize a mobile-first approach. Southeast Asia is highly mobile-centric, with most of the digital audience connecting through smartphones. Adapting to this digital landscape is essential for capturing a broad audience.Q: How can VC and CVC support play a role in helping Malaysian companies go regional?Kailash: VC and CVC partnerships are crucial, especially for companies looking to enter unfamiliar territories. For Malaysian startups, finding investors who understand the regional landscape can provide not only funding but also strategic connections and market insights. However, it’s essential for startups to retain strategic independence and ensure that these partnerships support, rather than restrict, their regional growth.Q: What’s your final takeaway for Malaysian startups, VCs, and corporates interested in regional expansion?Kailash: Southeast Asia is rich with opportunities, but capturing them requires urgency and a regional-first mindset. Malaysian startups should embrace this approach early—don’t wait until you’ve maxed out the local market to consider expansion. By positioning for regional growth, companies can become more resilient and appealing to investors who are looking for scalable, multi-market ventures.In short: aim big, act regionally, and leverage strategic partnerships. Southeast Asia’s diversity and dynamism provide a clear path to success for those ready to cross borders. Carsome and Grab’s journeys are testaments to what’s possible, and Malaysian companies can carve their own path to regional impact by following a similar model.

Think tank

Venture Capitals

Local companies

Startups

As Malaysia’s startup scene flourishes, local companies are realizing that the domestic market, while promising, may not be enough to fuel long-term success. For many, the answer lies in expanding regionally to tap into Southeast Asia's vast potential. However, the path is not without its challenges. Both Venture Capital (VC) and Corporate Venture Capital (CVC) are facing growing obstacles in smaller Southeast Asian markets like Vietnam, Thailand, Malaysia, and the Philippines, where traditional paths to IPOs and M&A exits are proving elusive.We sat down with Kailash to explore why regional expansion is essential for Malaysian startups and companies seeking sustainable growth and viable exit opportunities.Kailash Raghuwanshi is a seasoned business strategist with over fifteen years of experience across Southeast Asia, the US, and China. Known to many as “Kai,” he has built a reputation for guiding companies through complex growth challenges in rapidly evolving markets. 

Expanding Horizons: Why Malaysia’s Startups and Companies Need a Regional Game Plan

KUALA LUMPUR, 23 October – OPUS International (M) Berhad
(OPUS), a leading engineering and asset management consultancy, a subsidiary of
UEM Edgenta Berhad (UEM Edgenta) together with 
HSS Engineering Sdn Bhd (HSSE), a prominent player in engineering and project
management services, a wholly owned subsidiary of HSS Engineers Berhad (HEB);
today announced the signing of a Joint Venture and Shareholders’ Agreement
(JVSA). This strategic partnership aims to accelerate expansion into
high-growth infrastructure markets across Southeast Asia (SEA) and the Middle
East.

This collaboration brings
together the combined expertise of OPUS and HSS Engineering to deliver comprehensive
solutions across engineering and technical services, project management and
asset management consultancy and energy efficiency solutions in diverse
infrastructure sectors. The joint venture will be 60% owned by OPUS and 40% by
HSSE. 

Sharing her thoughts on the
collaboration, Hillary Chua, Managing Director, OPUS, said, “This joint venture
marks a transformative step forward by merging the expertise of OPUS in asset
management and energy efficiency with HSSE’s extensive international market
presence and network. With over three decades of engineering excellence from
both OPUS and HSSE, we are uniquely positioned to deliver innovative and sustainable
infrastructure solutions not only to Malaysia but also for the high-growth
markets across Southeast Asia and the Middle East. We share ambitious growth
aspirations, aiming to enhance the delivery of world-class engineering practice
and asset management services while contributing to the region's infrastructure
development.

Echoing similar sentiments
and enthusiasm, Syahrunizam Samsudin, Managing Director &amp; CEO, UEM Edgenta,
shared, "This partnership is goes beyond collaboration – it is about
creating long-term value. It strengthens our ability to deliver innovative,
sustainable projects. For UEM Edgenta, this aligns seamlessly with our Edgenta
of the Future 2025 (EOTF 2025) vision; where innovation, sustainability, and
impact are at the core of our strategy. This joint venture also enhances our
competitiveness in the international market, positioning us as a leader in
infrastructure asset management across Southeast Asia and the Middle East region.”

“This JV allows us to leverage the strengths of both HEB
Group and Opus International. By combining HEB Group’s expertise in engineering
design and project management with Opus International’s innovative approaches
like asset management, geotechnical, energy efficiency and sustainability
solutions. We are creating a formidable alliance primed for success. Our
collaboration will certainly lead to synergistic benefits in our joint
projects. We look forward to building a strong partnership with Opus International
to raise the standards of infrastructure projects in modern urban landscapes,”
added Ir. Sharifah Azlina Raja Kamal Pasmah, Chief Executive Officer, HSS
Engineering Sdn Bhd.

Tan Sri Ir. Kuna Sittampalam, Executive Vice Chairman, HSS
Engineers Berhad concluded, “Opus International’s esteemed brand and its
leadership in asset management will seamlessly complement HEB Group’s proven
track record in engineering solutions for infrastructure projects. This
partnership is poised to significantly enhance project delivery capabilities
and foster dynamic growth in both domestic and global markets. HEB Group is
pivoting toward emerging fields like data centers and renewable energy while strengthening
its core areas of rail, highways, ports, and water infrastructure. Hence, this
JV is poised to enhance our position as Malaysia’s leading engineering
consultant and strengthen the comprehensiveness of our solutions.”

Signing the agreement on
behalf of OPUS was Hillary Chua, Managing Director, OPUS while HSS was
represented by it’s CEO, Ir. Sharifah Azlina Raja Kamal Pasmah. The signing was
witnessed by Syahrunizam Samsudin Managing Director &amp; CEO, UEM Edgenta and
Tan Sri Ir. Kuna Sittampalam, Executive Vice Chairman, HSS Engineers Bhd.

OPUS and HSSE plan to
formally establish the joint venture in 2024, with initial operations focusing
on major asset management projects and energy efficiency initiatives. The
formation and operations of the joint venture are subject to necessary
regulatory approvals.

For further information on OPUS and UEM Edgenta,
log on to <a href="https://www.uemedgenta.com">https://www.uemedgenta.com</a>.

KUALA LUMPUR, 23 October – OPUS International (M) Berhad
(OPUS), a leading engineering and asset management consultancy, a subsidiary of
UEM Edgenta Berhad (UEM Edgenta) together with 
HSS Engineering Sdn Bhd (HSSE), a prominent player in engineering and project
management services, a wholly owned subsidiary of HSS Engineers Berhad (HEB);
today announced the signing of a Joint Venture and Shareholders’ Agreement
(JVSA). This strategic partnership aims to accelerate expansion into
high-growth infrastructure markets across Southeast Asia (SEA) and the Middle
East.This collaboration brings
together the combined expertise of OPUS and HSS Engineering to deliver comprehensive
solutions across engineering and technical services, project management and
asset management consultancy and energy efficiency solutions in diverse
infrastructure sectors. The joint venture will be 60% owned by OPUS and 40% by
HSSE. Sharing her thoughts on the
collaboration, Hillary Chua, Managing Director, OPUS, said, “This joint venture
marks a transformative step forward by merging the expertise of OPUS in asset
management and energy efficiency with HSSE’s extensive international market
presence and network. With over three decades of engineering excellence from
both OPUS and HSSE, we are uniquely positioned to deliver innovative and sustainable
infrastructure solutions not only to Malaysia but also for the high-growth
markets across Southeast Asia and the Middle East. We share ambitious growth
aspirations, aiming to enhance the delivery of world-class engineering practice
and asset management services while contributing to the region's infrastructure
development.Echoing similar sentiments
and enthusiasm, Syahrunizam Samsudin, Managing Director &amp; CEO, UEM Edgenta,
shared, "This partnership is goes beyond collaboration – it is about
creating long-term value. It strengthens our ability to deliver innovative,
sustainable projects. For UEM Edgenta, this aligns seamlessly with our Edgenta
of the Future 2025 (EOTF 2025) vision; where innovation, sustainability, and
impact are at the core of our strategy. This joint venture also enhances our
competitiveness in the international market, positioning us as a leader in
infrastructure asset management across Southeast Asia and the Middle East region.”“This JV allows us to leverage the strengths of both HEB
Group and Opus International. By combining HEB Group’s expertise in engineering
design and project management with Opus International’s innovative approaches
like asset management, geotechnical, energy efficiency and sustainability
solutions. We are creating a formidable alliance primed for success. Our
collaboration will certainly lead to synergistic benefits in our joint
projects. We look forward to building a strong partnership with Opus International
to raise the standards of infrastructure projects in modern urban landscapes,”
added Ir. Sharifah Azlina Raja Kamal Pasmah, Chief Executive Officer, HSS
Engineering Sdn Bhd.Tan Sri Ir. Kuna Sittampalam, Executive Vice Chairman, HSS
Engineers Berhad concluded, “Opus International’s esteemed brand and its
leadership in asset management will seamlessly complement HEB Group’s proven
track record in engineering solutions for infrastructure projects. This
partnership is poised to significantly enhance project delivery capabilities
and foster dynamic growth in both domestic and global markets. HEB Group is
pivoting toward emerging fields like data centers and renewable energy while strengthening
its core areas of rail, highways, ports, and water infrastructure. Hence, this
JV is poised to enhance our position as Malaysia’s leading engineering
consultant and strengthen the comprehensiveness of our solutions.”Signing the agreement on
behalf of OPUS was Hillary Chua, Managing Director, OPUS while HSS was
represented by it’s CEO, Ir. Sharifah Azlina Raja Kamal Pasmah. The signing was
witnessed by Syahrunizam Samsudin Managing Director &amp; CEO, UEM Edgenta and
Tan Sri Ir. Kuna Sittampalam, Executive Vice Chairman, HSS Engineers Bhd.OPUS and HSSE plan to
formally establish the joint venture in 2024, with initial operations focusing
on major asset management projects and energy efficiency initiatives. The
formation and operations of the joint venture are subject to necessary
regulatory approvals.For further information on OPUS and UEM Edgenta,
log on to <a href="https://www.uemedgenta.com">https://www.uemedgenta.com</a>.



<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/9a8d0bca-79c7-4868-f171-6494238cb200/public" alt="(from left to right)&nbsp;Ir. Sharifah Azlina Raja Kamal Pasmah, CEO, HSS Engineers Bhd and Tan Sri Ir. Kuna Sittampalam, Executive Vice Chairman, HSS Engineers Bhd together with Syahrunizam Samsudin Managing Director &amp; CEO, UEM Edgenta and Hillary Chua, Managing Director, OPUS International (M) Bhd at the recent Joint Venture and Shareholders' Agreement signing between OPUS International (M) Bhd, a sub-subsidiary of UEM Edgenta Bhd, and HSS Engineers Bhd's wholly-owned subsidiary HSS Engineering Sdn Bhd to provide engineering and technical services." /><img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/2d6bc809-9f8c-48f9-5432-cfbfd89f0a00/public" alt="Image" /><img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/69a75573-273c-4868-70d6-f1200ea79000/public" alt="Image" />

Commercial facilities / Office buildings

Construction / Civil engineering

Electricity / Gas / Resources / Energy

OPUS International and HSS Engineering Forge Strategic Joint Venture to Lead Infrastructure Development Across Southeast Asia and Middle East

UEM Edgenta Berhad (UEM
Edgenta), Malaysia’s leading provider of integrated asset management and
infrastructure services, in collaboration with The Lost Food Project, is proud
to announce the remarkable progress of the Saving
Animals, Serving Community campaign through the Pet Food Project (PFP) from
January to July 2024. As the first initiative of its kind in Malaysia, this
groundbreaking project is dedicated to rescuing surplus pet food and
redistributing it to animals in need, thereby fostering a more sustainable and
compassionate community.

UEM Edgenta, the sole
corporate partner in this first-of-its-kind collaboration, has been
instrumental in driving the success of the Pet Food Project. Over the past six
months, the project has successfully diverted 5,496 kilograms of surplus pet
food from landfills, bringing the total amount of rescued pet food to an
impressive 12,724 kilograms since the project's initiation. This surplus has
been distributed to individual cat and dog rescuers, shelters, and feeders
across the Klang Valley and beyond, ensuring that countless animals receive the
nourishment they need.

The success of the Pet Food
Project highlights UEM Edgenta’s commitment to innovation in community support
and sustainability. By partnering with The Lost Food Project, UEM Edgenta has
enabled the PFP to engage individuals and local businesses in combating pet
food waste. This effort has rescued 5,490 kilograms of pet food, prevented
36,935 kilograms of CO2 emissions, and supported over 50 shelters, rescuers,
and feeders. It has also delivered 50,384 meals to cats and kittens and 8,833
meals to dogs, enhancing the well-being of countless animals. At the same time,
this initiative has significantly reduced the environmental impact of food
waste, making a lasting difference in the community

As PFP moves beyond its pilot
phase, UEM Edgenta and The Lost Food Project are committed to integrating the
valuable learnings and connections established to ensure the continued success
and growth of the initiative. Insights gained from the pilot, including the
specific needs of animal shelters and the logistical challenges of surplus pet
food distribution, will be leveraged to refine processes and make them more
efficient and responsive to community needs.

Sharing his thoughts on the
initiative, Syahrunizam Samsudin, MD/CEO, UEM Edgenta, emphasised “At UEM
Edgenta, sustainability is not just a business objective; it is an integral
part of our commitment to creating lasting value for the communities we serve.
The ‘Saving Animals, Serving Community’ campaign, in partnership with The Lost
Food Project, exemplifies this commitment by addressing the critical issue of
pet food waste while enhancing animal welfare across Malaysia. As the only corporate
 partner of this groundbreaking initiative, we
are proud to be at the forefront, which aligns with our broader vision of
driving innovation and fostering social responsibility. As we continue to scale
this effort, we remain dedicated to building meaningful, sustainable
partnerships that make a tangible difference in society.” 

In addition to this
initiative, UEM Edgenta proudly served as the main sponsor of the "Potong
Royong" programme, in collaboration with Society for the Prevention of
Cruelty to Animals (SPCA). This vital campaign successfully neutered 680
animals, including over 500 cats and 150 dogs, helping to manage the stray
animal population and promote responsible pet ownership. SPCA has been UEM
Edgenta's trusted partner since 2023. Through the Company's continued
sponsorship in 2024, this collaboration further underscores the UEM Edgenta's
enduring commitment to both animal welfare and community sustainability.
Building on the success of these initiatives, UEM Edgenta will continue to
strengthen its collaboration with other like-minded organisations. The Company
is dedicated to expanding its efforts in reducing pet food waste, enhancing
animal welfare, and driving sustainable, community-focused solutions across
Malaysia.

For further information on UEM Edgenta’s CSR
programmes and its journey in sustainability, log on to <a href="https://www.uemedgenta.com">https://www.uemedgenta.com</a>.

(fourth from right) Wan Laila Fatihah,
Head, Corporate Communications, UEM Edgenta Berhad and (third from left)
Daniel Devadason, General Manager, The Lost Food Project together with
representatives of UEM Edgenta symbolically handing over rescued pet food to
TLFP.

(left)
Wan Laila Fatihah, Head, Corporate Communications, UEM Edgenta Berhad together
with (right) Daniel Devadason, General Manager, The Lost Food&nbsp;Project at a
recent pet food rescue&nbsp;programme.

A
representative of UEM Edgenta Berhad with one of the many feline recipients of
the rescued pet food under the Pet Food&nbsp;Project following the
collaboration between UEM Edgenta and&nbsp;TLFP.

UEM Edgenta Berhad (UEM
Edgenta), Malaysia’s leading provider of integrated asset management and
infrastructure services, in collaboration with The Lost Food Project, is proud
to announce the remarkable progress of the Saving
Animals, Serving Community campaign through the Pet Food Project (PFP) from
January to July 2024. As the first initiative of its kind in Malaysia, this
groundbreaking project is dedicated to rescuing surplus pet food and
redistributing it to animals in need, thereby fostering a more sustainable and
compassionate community.UEM Edgenta, the sole
corporate partner in this first-of-its-kind collaboration, has been
instrumental in driving the success of the Pet Food Project. Over the past six
months, the project has successfully diverted 5,496 kilograms of surplus pet
food from landfills, bringing the total amount of rescued pet food to an
impressive 12,724 kilograms since the project's initiation. This surplus has
been distributed to individual cat and dog rescuers, shelters, and feeders
across the Klang Valley and beyond, ensuring that countless animals receive the
nourishment they need.The success of the Pet Food
Project highlights UEM Edgenta’s commitment to innovation in community support
and sustainability. By partnering with The Lost Food Project, UEM Edgenta has
enabled the PFP to engage individuals and local businesses in combating pet
food waste. This effort has rescued 5,490 kilograms of pet food, prevented
36,935 kilograms of CO2 emissions, and supported over 50 shelters, rescuers,
and feeders. It has also delivered 50,384 meals to cats and kittens and 8,833
meals to dogs, enhancing the well-being of countless animals. At the same time,
this initiative has significantly reduced the environmental impact of food
waste, making a lasting difference in the communityAs PFP moves beyond its pilot
phase, UEM Edgenta and The Lost Food Project are committed to integrating the
valuable learnings and connections established to ensure the continued success
and growth of the initiative. Insights gained from the pilot, including the
specific needs of animal shelters and the logistical challenges of surplus pet
food distribution, will be leveraged to refine processes and make them more
efficient and responsive to community needs.Sharing his thoughts on the
initiative, Syahrunizam Samsudin, MD/CEO, UEM Edgenta, emphasised “At UEM
Edgenta, sustainability is not just a business objective; it is an integral
part of our commitment to creating lasting value for the communities we serve.
The ‘Saving Animals, Serving Community’ campaign, in partnership with The Lost
Food Project, exemplifies this commitment by addressing the critical issue of
pet food waste while enhancing animal welfare across Malaysia. As the only corporate
 partner of this groundbreaking initiative, we
are proud to be at the forefront, which aligns with our broader vision of
driving innovation and fostering social responsibility. As we continue to scale
this effort, we remain dedicated to building meaningful, sustainable
partnerships that make a tangible difference in society.” In addition to this
initiative, UEM Edgenta proudly served as the main sponsor of the "Potong
Royong" programme, in collaboration with Society for the Prevention of
Cruelty to Animals (SPCA). This vital campaign successfully neutered 680
animals, including over 500 cats and 150 dogs, helping to manage the stray
animal population and promote responsible pet ownership. SPCA has been UEM
Edgenta's trusted partner since 2023. Through the Company's continued
sponsorship in 2024, this collaboration further underscores the UEM Edgenta's
enduring commitment to both animal welfare and community sustainability.
Building on the success of these initiatives, UEM Edgenta will continue to
strengthen its collaboration with other like-minded organisations. The Company
is dedicated to expanding its efforts in reducing pet food waste, enhancing
animal welfare, and driving sustainable, community-focused solutions across
Malaysia.For further information on UEM Edgenta’s CSR
programmes and its journey in sustainability, log on to <a href="https://www.uemedgenta.com">https://www.uemedgenta.com</a>.



<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/f10a47b5-d9b2-45ee-4a7c-53755aef8200/public" alt="Image" />(fourth from right) Wan Laila Fatihah,
Head, Corporate Communications, UEM Edgenta Berhad and (third from left)
Daniel Devadason, General Manager, The Lost Food Project together with
representatives of UEM Edgenta symbolically handing over rescued pet food to
TLFP.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/4427d6ef-55de-4072-1957-1c6955878200/public" alt="Image" />(left)
Wan Laila Fatihah, Head, Corporate Communications, UEM Edgenta Berhad together
with (right) Daniel Devadason, General Manager, The Lost Food&nbsp;Project at a
recent pet food rescue&nbsp;programme.<img style="width: 100%;" src="https://imagedelivery.net/H6_s_Eb_ylTWnSEV3HlmYQ/13d4a7ea-f51f-4d04-05d5-139a3edfc000/public" alt="Image" />A
representative of UEM Edgenta Berhad with one of the many feline recipients of
the rescued pet food under the Pet Food&nbsp;Project following the
collaboration between UEM Edgenta and&nbsp;TLFP.

Pets / Pet Supplies

Foundations / Associations

Event

Campaign

UEM Edgenta Champions Malaysia’s First Pet Food Rescue

Selangor, Malaysia, April 15, 2024 – PT. OCHABAWEZ DINAMIKA PERSADA (ODP), a leading IT solutions provider in Indonesia, and INSPUR SOFTWARE TECHNOLOGY CO., LTD, an IT conglomerate from China, are proud to announce the signing of a strategic Memorandum of Understanding (MOU) to propel Indonesia's digital transformation. This partnership aims to enhance the nation's IT landscape by combining ODP's expertise in system integration, e-government, and cybersecurity with INSPUR's innovative cloud computing, big data, and AI solutions.

Under this comprehensive agreement, both companies will explore collaborative research and development initiatives, share market insights, and develop cutting-edge business models to support Indonesia's growing digital infrastructure needs. The strategic alliance will focus on joint projects to bolster cybersecurity frameworks, develop digital infrastructure, and ensure that Indonesia remains at the forefront of technological advancements.

Joint Development Both parties will collaborate to research new business projects and share vital information and procedures to unlock the potential of these initiatives.

Market Research and Analysis ODP and INSPUR will conduct market research to understand the digital infrastructure requirements of Indonesia's private and governmental sectors.

Technical and Economic Feasibility The partnership will identify and assess the technical and economic feasibility of potential IT services, business models, and operational strategies to ensure tailored solutions for Indonesia's unique market.

Strategic Support INSPUR will provide ODP with essential technical advice, market planning, and resources to optimize the latter's strategic and sales operations.

Confidentiality and Compliance Both parties will maintain strict confidentiality of shared information and ensure compliance with international and national laws, including anti-corruption and export control.

Edi Prabowo, Director of ODP, stated, "This collaboration with INSPUR aligns perfectly with our vision to advance Indonesia's digital infrastructure. By joining forces, we will bring innovative solutions that will transform the IT landscape of our nation."

INSPUR CEO Zhang Feng emphasized, "Partnering with ODP allows us to extend our expertise into Southeast Asia and participate in the digital transformation initiatives shaping Indonesia."

This alliance promises to redefine IT services across Indonesia, empowering businesses and governments alike through secure, scalable, and innovative digital infrastructure.

For more information about this partnership and future initiatives, please visit <a href="https://veroeco.ai/">https://veroeco.ai/</a> and <a href="https://www.inspur.com/">https://www.inspur.com/</a>.

In a strategic move to drive innovation and deliver enhanced value to the people in Indonesia, PT. OCHABAWEZ DINAMIKA PERSADA (ODP), a leader in National IT Solutions & Ecosystem Builder, and INSPUR SOFTWARE TECHNOLOGY CO., LTD, renowned for its leading data center and cloud computing solutions provider, have announced a new business partnership. This collaboration aims to jointly explore business projects, conduct market research, and establish innovative business models to enhance the country's digital infrastructure.Selangor, Malaysia, April 15, 2024 – PT. OCHABAWEZ DINAMIKA PERSADA (ODP), a leading IT solutions provider in Indonesia, and INSPUR SOFTWARE TECHNOLOGY CO., LTD, an IT conglomerate from China, are proud to announce the signing of a strategic Memorandum of Understanding (MOU) to propel Indonesia's digital transformation. This partnership aims to enhance the nation's IT landscape by combining ODP's expertise in system integration, e-government, and cybersecurity with INSPUR's innovative cloud computing, big data, and AI solutions.Under this comprehensive agreement, both companies will explore collaborative research and development initiatives, share market insights, and develop cutting-edge business models to support Indonesia's growing digital infrastructure needs. The strategic alliance will focus on joint projects to bolster cybersecurity frameworks, develop digital infrastructure, and ensure that Indonesia remains at the forefront of technological advancements.<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/6784670f06e32d438e9bce425725c87b1b7240a8a8c2184f1ced632238642dcc/WhatsApp%20Image%202024-04-15%20at%2019.21.23_67fa2e70.jpg" alt="Image" /><h3>Key Highlights:</h3>Joint Development Both parties will collaborate to research new business projects and share vital information and procedures to unlock the potential of these initiatives.Market Research and Analysis ODP and INSPUR will conduct market research to understand the digital infrastructure requirements of Indonesia's private and governmental sectors.Technical and Economic Feasibility The partnership will identify and assess the technical and economic feasibility of potential IT services, business models, and operational strategies to ensure tailored solutions for Indonesia's unique market.Strategic Support INSPUR will provide ODP with essential technical advice, market planning, and resources to optimize the latter's strategic and sales operations.Confidentiality and Compliance Both parties will maintain strict confidentiality of shared information and ensure compliance with international and national laws, including anti-corruption and export control.<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/359a0db8d56e6cbba4c5206402fc66ff198ad8ac5338d0c7a7ffd22fa57139ec/WhatsApp%20Image%202024-04-15%20at%2018.40.48_cd2fb94c.jpg" alt="ZHANG FENG &amp; CAPT. KOH CHEN TIEN" />Edi Prabowo, Director of ODP, stated, "This collaboration with INSPUR aligns perfectly with our vision to advance Indonesia's digital infrastructure. By joining forces, we will bring innovative solutions that will transform the IT landscape of our nation."INSPUR CEO Zhang Feng emphasized, "Partnering with ODP allows us to extend our expertise into Southeast Asia and participate in the digital transformation initiatives shaping Indonesia."This alliance promises to redefine IT services across Indonesia, empowering businesses and governments alike through secure, scalable, and innovative digital infrastructure.For more information about this partnership and future initiatives, please visit <a href="https://veroeco.ai/">https://veroeco.ai/</a> and <a href="https://www.inspur.com/">https://www.inspur.com/</a>.

Foreign companies

Hardware / Electronics / Peripherals

In a strategic move to drive innovation and deliver enhanced value to the people in Indonesia, PT. OCHABAWEZ DINAMIKA PERSADA (ODP), a leader in National IT Solutions & Ecosystem Builder, and INSPUR SOFTWARE TECHNOLOGY CO., LTD, renowned for its leading data center and cloud computing solutions provider, have announced a new business partnership. This collaboration aims to jointly explore business projects, conduct market research, and establish innovative business models to enhance the country's digital infrastructure.

ODP and INSPUR Forge Strategic Partnership to Enhance IT and Digital Infrastructure in Indonesia

KUALA LUMPUR, 29 February 2024 - UEM Edgenta Berhad (“UEM Edgenta” or the “Company”), the region’s leading Asset Management and Infrastructure Solutions company, reported an improved revenue delivery of 14.1% for the financial year ended 31 December 2023 (“FY2023”), compared to RM2.5 billion in the previous year (“FY2022”) and for the Company to declare a single-tier interim dividend of 2 sen per ordinary share for FY2023.

Facing global inflationary pressure and rising operational costs, the company's profit was moderated, resulting in a profit after tax for FY2023 of RM30.1 million, a decrease of 34.1% compared to RM45.7 million in FY2022.

In the fourth quarter of fiscal year 2023, UEM Edgenta reported a revenue of RM806.9 million, an increase from the previous quarter's revenue of RM710.5 million. However, net profit declined by 92.9% QoQ resulting from headwinds driven by external inflationary environment, compared to a profit of RM21.0 million in the preceding quarter. Despite the above, UEM Edgenta maintains a healthy financial position, with a low gearing ratio of 0.3 times and cash and bank balances totaling RM644.2 million as of December 31, 2023, indicating financial stability and liquidity.

Taking stock of the prevailing market conditions, sentiment, and the Company's most recent quarterly performance, Syahrunizam Samsudin, Managing Director/Chief Executive Officer, UEM Edgenta shared, "In 2023, UEM Edgenta demonstrated robust revenue growth, highest in 6 years, driven by high contract renewals and realized workorders from strong year-on-year contract wins with maiden revenue contribution from KSA, supported by strengthening of SGD. Due to the cost-push inflation with persistent rising cost of raw materials and labour that directly impact our cost structure and flow-through impact from subcontractor/vendor rising costs, profit margin was moderated across businesses. The impact was partially mitigated by our multi-sector, multi-geography portfolio diversification strategy, supported by savings driven through stringent cost management, operational efficiency initiatives and optimisation of supply chain management. As we navigate through the challenges, we continue to remain steadfast in executing our long-term strategy underpinned by EOTF 2025, driven by investments in tech and new markets and optimize the way we operate.”

“Significant headway was realized in executing technology, sustainability and market pivots through Edgenta’s differentiation in execution capabilities, reputation in upholding international quality standard and good customer relationships, the Company remains committed to enhancing efficiency and driving sustainable profitability,” added Syahrunizam.

2023 in Review: Navigating Growth and Innovation

As we enter 2024, UEM Edgenta celebrates a year of significant achievements and strategic progress on various fronts. Domestically, our dedication to innovation and sustainability has established OPUS as a leader in promoting sustainability solutions within the built environment. Our successes also extend to securing long-term contracts for state and rural roads in Selangor, Johor, and Sarawak, reaffirming our commitment to infrastructure development in Malaysia. Additionally, the launch of Net Zero Targets demonstrates our commitment to environmental responsibility, with goals set to reduce operational GHG emissions by 26% by 2030 and achieve net-zero emissions by 2050.

Internationally, mature markets like Singapore and Taiwan, our diversification strategy goes beyond healthcare support services. Leveraging our strong reputation and track record, we are intensifying efforts to explore opportunities in the manufacturing and hospitality sectors to diversify revenue sources. In the dynamic Middle East market, we recognize significant potential driven by rapid growth and untapped opportunities, particularly in emerging smart city developments; prioritising facilities management services to capitalise on these opportunities. UEM Edgenta expanded its footprint in the Middle East with recent acquisitions, further enhancing our real estate services platform and expanding our client base.

UEM Edgenta has reached 82% of its RM100 million savings target for EoTF 2025, with 43% of its new wins attributed to technology-driven strategies, highlighting its resilience and innovation in facing industry challenges. The company's shift towards global leadership in long-term asset management and its focus on markets that appreciate this expertise reflect its adaptability. Despite facing challenges, UEM Edgenta's commitment to execution excellence, international standards, and strong customer relationships has reinforced its industry position. By focusing on strategic resilience, technological advancement, and talent development, UEM Edgenta aims for sustained growth, leveraging its global presence to overcome obstacles, capitalize on opportunities, and ensure long-term value creation for stakeholders.

For further information on UEM Edgenta and its other initiatives, logon to https://www.uemedgenta.com.

Head, Centre of Excellence &amp; Financial Management, UEM Edgenta

Managing Director / Chief Executive Officer, UEM Edgenta

KUALA LUMPUR, 29 February 2024 - UEM Edgenta Berhad (“UEM Edgenta” or the “Company”), the region’s leading Asset Management and Infrastructure Solutions company, reported an improved revenue delivery of 14.1% for the financial year ended 31 December 2023 (“FY2023”), compared to RM2.5 billion in the previous year (“FY2022”) and for the Company to declare a single-tier interim dividend of 2 sen per ordinary share for FY2023.Facing global inflationary pressure and rising operational costs, the company's profit was moderated, resulting in a profit after tax for FY2023 of RM30.1 million, a decrease of 34.1% compared to RM45.7 million in FY2022.In the fourth quarter of fiscal year 2023, UEM Edgenta reported a revenue of RM806.9 million, an increase from the previous quarter's revenue of RM710.5 million. However, net profit declined by 92.9% QoQ resulting from headwinds driven by external inflationary environment, compared to a profit of RM21.0 million in the preceding quarter. Despite the above, UEM Edgenta maintains a healthy financial position, with a low gearing ratio of 0.3 times and cash and bank balances totaling RM644.2 million as of December 31, 2023, indicating financial stability and liquidity.Taking stock of the prevailing market conditions, sentiment, and the Company's most recent quarterly performance, Syahrunizam Samsudin, Managing Director/Chief Executive Officer, UEM Edgenta shared, "In 2023, UEM Edgenta demonstrated robust revenue growth, highest in 6 years, driven by high contract renewals and realized workorders from strong year-on-year contract wins with maiden revenue contribution from KSA, supported by strengthening of SGD. Due to the cost-push inflation with persistent rising cost of raw materials and labour that directly impact our cost structure and flow-through impact from subcontractor/vendor rising costs, profit margin was moderated across businesses. The impact was partially mitigated by our multi-sector, multi-geography portfolio diversification strategy, supported by savings driven through stringent cost management, operational efficiency initiatives and optimisation of supply chain management. As we navigate through the challenges, we continue to remain steadfast in executing our long-term strategy underpinned by EOTF 2025, driven by investments in tech and new markets and optimize the way we operate.”“Significant headway was realized in executing technology, sustainability and market pivots through Edgenta’s differentiation in execution capabilities, reputation in upholding international quality standard and good customer relationships, the Company remains committed to enhancing efficiency and driving sustainable profitability,” added Syahrunizam.2023 in Review: Navigating Growth and InnovationAs we enter 2024, UEM Edgenta celebrates a year of significant achievements and strategic progress on various fronts. Domestically, our dedication to innovation and sustainability has established OPUS as a leader in promoting sustainability solutions within the built environment. Our successes also extend to securing long-term contracts for state and rural roads in Selangor, Johor, and Sarawak, reaffirming our commitment to infrastructure development in Malaysia. Additionally, the launch of Net Zero Targets demonstrates our commitment to environmental responsibility, with goals set to reduce operational GHG emissions by 26% by 2030 and achieve net-zero emissions by 2050.Internationally, mature markets like Singapore and Taiwan, our diversification strategy goes beyond healthcare support services. Leveraging our strong reputation and track record, we are intensifying efforts to explore opportunities in the manufacturing and hospitality sectors to diversify revenue sources. In the dynamic Middle East market, we recognize significant potential driven by rapid growth and untapped opportunities, particularly in emerging smart city developments; prioritising facilities management services to capitalise on these opportunities. UEM Edgenta expanded its footprint in the Middle East with recent acquisitions, further enhancing our real estate services platform and expanding our client base.UEM Edgenta has reached 82% of its RM100 million savings target for EoTF 2025, with 43% of its new wins attributed to technology-driven strategies, highlighting its resilience and innovation in facing industry challenges. The company's shift towards global leadership in long-term asset management and its focus on markets that appreciate this expertise reflect its adaptability. Despite facing challenges, UEM Edgenta's commitment to execution excellence, international standards, and strong customer relationships has reinforced its industry position. By focusing on strategic resilience, technological advancement, and talent development, UEM Edgenta aims for sustained growth, leveraging its global presence to overcome obstacles, capitalize on opportunities, and ensure long-term value creation for stakeholders.For further information on UEM Edgenta and its other initiatives, logon to https://www.uemedgenta.com.<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/8449a1c5864d7c66d0ad754b05144ea841ace1665e894a009bccd64f41f6a27b/UEM%20Edgenta%20FY2023-Financial%20Results.jpg" alt="(from left to right)" />i.	Michael Leong Kar YungHead, Centre of Excellence &amp; Financial Management, UEM Edgentaii.	Syahrunizam SamsudinManaging Director / Chief Executive Officer, UEM Edgentaiii.	Lim Su SanHead, Corporate Strategy, UEM Edgentaiv.	Rais ImranChief Strategy Officer, UEM Edgenta<img style="width: 100%;" src="https://vritimes-public.s3.ap-southeast-1.amazonaws.com/production/00fd43e24180e7a9bbbd9d302201716d4975c90f2c37eb0fd9e02686cb780f7b/UEM%20Edgenta%20FY2023-Financial%20Results-MDCEO.jpeg" alt="Image" />

Green technology

Financial results announcement

UEM Edgenta Records RM2 Bil in Revenue and Declares 2 sen Dividends

CYBERJAYA, 19 DECEMBER 2023 - AwanBiru Technology Berhad (Awantec) has won the

SME100 Awards 2023 in the 'Sustainable Brands Awards' category for the second time since

Awantec's Chief Executive Officer, En. Azlan Zainal Abidin, stated that this recognition

reinforces Awantec’s position as Malaysia’s trusted partner in technology and talent

solutions. The award serves as a significant testament to its ability to effectively address

customers' needs and requirements for trusted and reliable products and services in this fastevolving industry.

“We have begun to establish a robust and sustainable supply chain through strategic

partnerships with distinguished industry leaders such as Google, HRD Corp., and Skillsoft, to

collectively reduce environmental and social impact. “The award recognises the strength of

Awantec, which has infused sustainability practices into every aspect of our business,” he said in a statement.&nbsp;

The win is a strong testament to Awantec's improving performance, as the company recently

recorded its second consecutive quarterly profit in Q1 Financial Year 2024. The positive

financial outcome was driven by growth in both the Technology and Talent segments,

powered by strong partnerships with various industry leaders such as the Human Resource

Department Corporation (HRDC), Skillsoft, and Google. These strong alliances were forged by

Awantec as part of its Cloud transformation plan established in 2021.

The SME100 Award ceremony is held annually, and winners are selected entirely by the

SME100 Committee through a physical audit and interview based on programmes and business plans from an ESG angle.

AwanBiru Technology Berhad (Awantec) has won the
SME100 Awards 2023 in the 'Sustainable Brands Awards' category for the second time since
2021. CYBERJAYA, 19 DECEMBER 2023 - AwanBiru Technology Berhad (Awantec) has won theSME100 Awards 2023 in the 'Sustainable Brands Awards' category for the second time since2021.Awantec's Chief Executive Officer, En. Azlan Zainal Abidin, stated that this recognitionreinforces Awantec’s position as Malaysia’s trusted partner in technology and talentsolutions. The award serves as a significant testament to its ability to effectively addresscustomers' needs and requirements for trusted and reliable products and services in this fastevolving industry.“We have begun to establish a robust and sustainable supply chain through strategicpartnerships with distinguished industry leaders such as Google, HRD Corp., and Skillsoft, tocollectively reduce environmental and social impact. “The award recognises the strength ofAwantec, which has infused sustainability practices into every aspect of our business,” he said in a statement.&nbsp;The win is a strong testament to Awantec's improving performance, as the company recentlyrecorded its second consecutive quarterly profit in Q1 Financial Year 2024. The positivefinancial outcome was driven by growth in both the Technology and Talent segments,powered by strong partnerships with various industry leaders such as the Human ResourceDepartment Corporation (HRDC), Skillsoft, and Google. These strong alliances were forged byAwantec as part of its Cloud transformation plan established in 2021.The SME100 Award ceremony is held annually, and winners are selected entirely by theSME100 Committee through a physical audit and interview based on programmes and business plans from an ESG angle.

AwanBiru Technology Berhad (Awantec) has won the
SME100 Awards 2023 in the 'Sustainable Brands Awards' category for the second time since
2021. 

AWANTEC WINS SME100 AWARD AS A SUSTAINABLE BRAND

FREMONT, Calif., July 26, 2023 (GLOBE NEWSWIRE) --&nbsp;<a href="https://www.globenewswire.com/Tracker?data=nuWNmuoOUUoqfaSVt08ZleTYRWJrB-_Hr0jNLbM08zrs1ihquxtgaebROexzrRx1VqFeB9cnMpmW_0Gq3IfeFmGT0FhnNB8M38Y1y_b_Kak=" target="_blank">Enovix Corporation</a>&nbsp;(“Enovix”) (Nasdaq: ENVX), an advanced silicon battery company, announced today it has entered into a Master Service Agreement (“MSA”) with YBS International Berhad (“YBS”) (MESDAQ: YBS:KLS), a Malaysia-based investment holding company with segments including electronic manufacturing and assembly, high-precision engineering, and precision machining and stamping, among others. The agreement secures $70 million of non-dilutive funding to support Enovix’s Fab2 site in Penang, Malaysia, and its first Gen2 high-volume manufacturing line.

“We’re thrilled to announce this significant milestone in our journey to scale,” said Dr. Raj Talluri, President and CEO of Enovix. “Finalizing the agreement in a short amount of time is a great achievement and I’m very proud of the team. We’re all focused on establishing Fab2 and moving to high-volume manufacturing so we can provide a superior product for our customers and enable a better user experience for consumers.”

“We’re pleased to finalize our manufacturing agreement, opening up tremendous opportunities for growth and success globally,” said Dato’ Dr. Mohd Sofi Bin Osman, a YBS board member. “We look forward to a long-term collaboration with Enovix and bringing their leading battery technology to market.”

As part of the MSA, YBS, under the direction of Enovix, will provide the building and capital for equipment and labor for Fab2 and the Gen2 Autoline 1. Enovix&nbsp;<a href="https://www.globenewswire.com/Tracker?data=0ZiiBs0WfxYvKy_tBa1EHblrx9voPoIAub7UMqkV1EKLP6jGJw6PuMRriFzKC4CYyY3SQ_3YFJcpPvf889smF3s1ujqwaOpl3UL01cUAsWQTIG9pJYPSd3o_njDzs50xNj6Ykj0duvRKBXm9aH7cMj4FSFa7xabsIXSLw9ilFOyKkE76xWNCueNrIzKdM5mKo2iAu1Gn2gRfUBOoEOeWhM7_0CxXJXwbhIF9CI0HNec=" target="_blank">announced earlier this year</a>&nbsp;that it established Enovix Malaysia Sdn. Bhd. (“Enovix Malaysia”). In addition, Enovix has hired more than 30 people in Malaysia including the two leaders announced in March. Enovix Malaysia’s Fab2 site is located in Penang Science Park.

“The Enovix Malaysia team is already making tremendous progress,” said Ajay Marathe, COO of Enovix. “They recently completed training at Fab1 in Fremont and the next step is Factory Acceptance Testing in South Korea, followed by Site Acceptance Testing in Malaysia. I am extremely pleased we finalized our agreement with YBS and are on track to produce first samples from the Gen2 Autoline 1 in April 2024.”

Enovix is on a mission to power the technologies of the future. Everything from IoT, mobile and computing devices, to the vehicle you drive, needs a better battery. The company’s disruptive architecture enables a battery with high energy density and capacity without compromising safety. Enovix is scaling its silicon-anode, lithium-ion battery manufacturing capabilities to meet customer demand. For more information visit&nbsp;<a href="https://www.globenewswire.com/Tracker?data=u2U4OnJJorZZO3HLe5-RqcrsYYt7jmsd_KHmwtnMpLwKJvWosDE72DATJy0vlOGhS9zqL_AGtKLft41m-_IatJ-9WqGTEC7FsbuYi78HOP8f9-VGHbQn55dtm2HTX3-PrcKO81kRjrrmJtzNxqf1vyKjEbBJwDdzqteCUW4zbaWxvWCbQAt3-1KNdm1VNi95Nwn1HomhRlXy9ZLVbbzpr-na3DNgXQ4mNadbq2xIIX6mGSaIRpxihjwFMNB6PnQF" target="_blank">www.enovix.com</a>&nbsp;and follow us on&nbsp;<a href="https://www.globenewswire.com/Tracker?data=Jkk2Ue7Iy_VVy8pJf6zgJZjZx_dHI0LEKJdTDWXx32BN33NgAqc4aH4M_hkAjf-nFZW2t04_f02AOPgzfQzbegOF59_9RQXttaiQCxlud73rQdjGI3UeX2jul3-H5psORjwKpupgC_5fNVH2F6tPz3XD09jA5h1DOaiahwsFz3DT5GSfkVsVwqjD3SBSAalJ-LublHW5MbAPhjF444D-ynVJS6A70R_tYOc5Nd-vheWg1XFny_Q7p-LpcmqkMw0Uz6IHrhxI9tA-BzLhUDiN8ImCNYmvfxDOpVn8S1LCvcE=" target="_blank">LinkedIn.</a>

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “believe”, “will”, “may”, “estimate”, “continue”, “anticipate”, “intend”, “should”, “plan”, “expect”, “predict”, “could”, “potentially", “target”, “project”, “believe”, “continue” or the negative of these terms or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements regarding its ability to effectively manufacture products in Malaysia, the success of its partnership with YBS, access to Malaysia’s deep pool of technical talent, Malaysia’s business-friendly environment, and support of the company’s growth and scale up. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties. For additional information on these risks and uncertainties and other potential factors that could affect our business and financial results or cause actual results to differ from the results predicted, please refer to our filings with the Securities and Exchange Commission (the “SEC”), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our most recently filed annual periodic reports on Form 10-K and quarterly report on Form 10-Q and other documents that we have filed, or that we will file, with the SEC. Any forward-looking statements made by us in this press release speak only as of the date on which they are made and subsequent events may cause these expectations to change. We disclaim any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.

<h1>Enovix Signs Manufacturing Agreement with YBS International Berhad for Fab2 in Malaysia</h1>FREMONT, Calif., July 26, 2023 (GLOBE NEWSWIRE) --&nbsp;<a href="https://www.globenewswire.com/Tracker?data=nuWNmuoOUUoqfaSVt08ZleTYRWJrB-_Hr0jNLbM08zrs1ihquxtgaebROexzrRx1VqFeB9cnMpmW_0Gq3IfeFmGT0FhnNB8M38Y1y_b_Kak=" target="_blank">Enovix Corporation</a>&nbsp;(“Enovix”) (Nasdaq: ENVX), an advanced silicon battery company, announced today it has entered into a Master Service Agreement (“MSA”) with YBS International Berhad (“YBS”) (MESDAQ: YBS:KLS), a Malaysia-based investment holding company with segments including electronic manufacturing and assembly, high-precision engineering, and precision machining and stamping, among others. The agreement secures $70 million of non-dilutive funding to support Enovix’s Fab2 site in Penang, Malaysia, and its first Gen2 high-volume manufacturing line.“We’re thrilled to announce this significant milestone in our journey to scale,” said Dr. Raj Talluri, President and CEO of Enovix. “Finalizing the agreement in a short amount of time is a great achievement and I’m very proud of the team. We’re all focused on establishing Fab2 and moving to high-volume manufacturing so we can provide a superior product for our customers and enable a better user experience for consumers.”“We’re pleased to finalize our manufacturing agreement, opening up tremendous opportunities for growth and success globally,” said Dato’ Dr. Mohd Sofi Bin Osman, a YBS board member. “We look forward to a long-term collaboration with Enovix and bringing their leading battery technology to market.”As part of the MSA, YBS, under the direction of Enovix, will provide the building and capital for equipment and labor for Fab2 and the Gen2 Autoline 1. Enovix&nbsp;<a href="https://www.globenewswire.com/Tracker?data=0ZiiBs0WfxYvKy_tBa1EHblrx9voPoIAub7UMqkV1EKLP6jGJw6PuMRriFzKC4CYyY3SQ_3YFJcpPvf889smF3s1ujqwaOpl3UL01cUAsWQTIG9pJYPSd3o_njDzs50xNj6Ykj0duvRKBXm9aH7cMj4FSFa7xabsIXSLw9ilFOyKkE76xWNCueNrIzKdM5mKo2iAu1Gn2gRfUBOoEOeWhM7_0CxXJXwbhIF9CI0HNec=" target="_blank">announced earlier this year</a>&nbsp;that it established Enovix Malaysia Sdn. Bhd. (“Enovix Malaysia”). In addition, Enovix has hired more than 30 people in Malaysia including the two leaders announced in March. Enovix Malaysia’s Fab2 site is located in Penang Science Park.“The Enovix Malaysia team is already making tremendous progress,” said Ajay Marathe, COO of Enovix. “They recently completed training at Fab1 in Fremont and the next step is Factory Acceptance Testing in South Korea, followed by Site Acceptance Testing in Malaysia. I am extremely pleased we finalized our agreement with YBS and are on track to produce first samples from the Gen2 Autoline 1 in April 2024.”About EnovixEnovix is on a mission to power the technologies of the future. Everything from IoT, mobile and computing devices, to the vehicle you drive, needs a better battery. The company’s disruptive architecture enables a battery with high energy density and capacity without compromising safety. Enovix is scaling its silicon-anode, lithium-ion battery manufacturing capabilities to meet customer demand. For more information visit&nbsp;<a href="https://www.globenewswire.com/Tracker?data=u2U4OnJJorZZO3HLe5-RqcrsYYt7jmsd_KHmwtnMpLwKJvWosDE72DATJy0vlOGhS9zqL_AGtKLft41m-_IatJ-9WqGTEC7FsbuYi78HOP8f9-VGHbQn55dtm2HTX3-PrcKO81kRjrrmJtzNxqf1vyKjEbBJwDdzqteCUW4zbaWxvWCbQAt3-1KNdm1VNi95Nwn1HomhRlXy9ZLVbbzpr-na3DNgXQ4mNadbq2xIIX6mGSaIRpxihjwFMNB6PnQF" target="_blank">www.enovix.com</a>&nbsp;and follow us on&nbsp;<a href="https://www.globenewswire.com/Tracker?data=Jkk2Ue7Iy_VVy8pJf6zgJZjZx_dHI0LEKJdTDWXx32BN33NgAqc4aH4M_hkAjf-nFZW2t04_f02AOPgzfQzbegOF59_9RQXttaiQCxlud73rQdjGI3UeX2jul3-H5psORjwKpupgC_5fNVH2F6tPz3XD09jA5h1DOaiahwsFz3DT5GSfkVsVwqjD3SBSAalJ-LublHW5MbAPhjF444D-ynVJS6A70R_tYOc5Nd-vheWg1XFny_Q7p-LpcmqkMw0Uz6IHrhxI9tA-BzLhUDiN8ImCNYmvfxDOpVn8S1LCvcE=" target="_blank">LinkedIn.</a>Forward Looking StatementsThis press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “believe”, “will”, “may”, “estimate”, “continue”, “anticipate”, “intend”, “should”, “plan”, “expect”, “predict”, “could”, “potentially", “target”, “project”, “believe”, “continue” or the negative of these terms or similar expressions. Forward-looking statements in this press release include, but are not limited to, statements regarding its ability to effectively manufacture products in Malaysia, the success of its partnership with YBS, access to Malaysia’s deep pool of technical talent, Malaysia’s business-friendly environment, and support of the company’s growth and scale up. Actual results could differ materially from these forward-looking statements as a result of certain risks and uncertainties. For additional information on these risks and uncertainties and other potential factors that could affect our business and financial results or cause actual results to differ from the results predicted, please refer to our filings with the Securities and Exchange Commission (the “SEC”), including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our most recently filed annual periodic reports on Form 10-K and quarterly report on Form 10-Q and other documents that we have filed, or that we will file, with the SEC. Any forward-looking statements made by us in this press release speak only as of the date on which they are made and subsequent events may cause these expectations to change. We disclaim any obligations to update or alter these forward-looking statements in the future, whether as a result of new information, future events or otherwise, except as required by law.YBS International Berhad (formerly known as LNG Resources Berhad) was incorporated in Malaysia as a public limited company in year 2002 under the Companies Act, 2016 as an investment holding company and was officially listed on the MESDAQ Market of the Bursa Malaysia Securities Berhad in year 2003.

YBS Group is led by a strong Board of Directors and Management Team with substantial commercial knowledge and experience. By leveraging operational and business best practices across the Group we enhance and improve our performance year on year. We will continue to invest in order to support growth to ensure that we continue to create value for shareholders.For media inquiries, please contact:

Enovix Corporation
Kristin Atkins
Phone: +1 (650) 815-6934
Email: katkins@enovix.com

For investor inquiries, please contact:

Enovix Corporation
Charles Anderson
Phone: +1 (612) 229-9729
Email: canderson@enovix.com