Malaysia’s tech snapshot for February 2024 briefly captures items including the recent Maxis-Huawei 5.5G demonstration, the upcoming Kuala Lumpur Startup Summit, Singapore-Malaysia agreement on cross-border collaboration to deal with cyber-scams, and more.
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Malaysia: Kuala Lumpur Startup Summit 2024 – date revised to July
- Malaysia: An overview of Malaysia’s position in terms of quantum technologies
- Malaysia: KL Startup Summit 2024 is set for April 17th in Kuala Lumpur for a one-day gathering of ecosystem stakeholders
- Malaysia: Kumpulan Wang Persaraan pension fund makes initial investments of $21M, featuring two direct investments in Malaysian startups and commitments to 2 venture capital funds
Malaysia’s pension fund, Kumpulan Wang Persaraan (Diperbadankan) (KWAP), has unveiled its initial investments under the Dana Perintis strategy, with $21 million. The investments include two direct investments in local startups and commitments to two venture capital funds.
KWAP has announced its support for two startups, Bateriku (M) Sdn Bhd and Lapasar Sdn Bhd, as part of its efforts to help them in their growth and expansion initiatives.
Bateriku, an automotive service provider with a nationwide network of partners, plays a crucial role in job creation and financial inclusion. Meanwhile, Lapasar operates as an online wholesale marketplace catering to the fast-moving consumer goods (FMCG) sector, driving digitalization across various industries.
Moreover, KWAP has also allocated investments to two venture capital funds: Vynn Capital and Antler. Vynn Capital focuses on seed-stage investments, particularly in the mobility and supply chain sectors. At the same time, Antler stands out as one of the world’s most active early-stage venture capital firms, supporting startups from pre-seed to Series A and beyond.
According to Maxis, the advanced capabilities of 5.5G can bolster digitalisation, automation, and the Internet of Things (IoT) across various sectors. These capabilities will drive the digital transformation of key industries like high-end manufacturing, automotive, and smart transportation, while also enabling cutting-edge visual communication through 3D and extended reality. Moreover, 5G-Advanced will facilitate the development of affordable IoT solutions.
Meanwhile, Simon Sun, CEO of Huawei Technologies (Malaysia), emphasised Huawei’s commitment to 5.5G solutions and its role in Malaysia’s digital transformation journey. He highlighted Huawei’s efforts in R&D and verification of key 5.5G technologies and business cases. Sun stated, “Today, we bring the latest 5.5G technology and launch the first 5.5G showcase in Malaysia. This demonstrates that Malaysia leads the region in digital infrastructure, showcasing its ability to attract and retain foreign investments. Huawei Malaysia is firmly committed to supporting the nation’s digital transformation.”
Malaysia: Kuala Lumpur Startup Summit 2024
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