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Malaysia Tech Micro-enterprises and SMEs to Get Financing

Financial Support for Malaysia Micro Enterprises and SME

A local micro-financing platform and financial technology service provider have teamed up with leading local e-commerce platform to provide financing support to micro-enterprises and small and medium enterprise (SME) merchants on the e-commerce platform.

The collaboration will leverage the fintech firm’s end-to-end digital financial services that offer fast and simple financing solutions in an effort to boost the growth potential of merchants listed on the e-commerce firm’s platform.

Through fintech working capital solution, merchants can enjoy easy financing with free insurance, cashback upon completion of repayment, zero early settlement charges, immediate financing decisions and cash in the merchant’s account within 48 hours during the promotional period from now until 31 Dec 2019.

The agreement was signed by the Director of the fintech firm and the Chief Business Officer of the e-commerce platform; it marks a meaningful effort for both entities towards driving growth for micro-enterprises and SMEs and building Malaysia’s digital economy.

The firms understand the obstacles that micro-enterprises and SMEs experience as they strive to grow their business. It believed that the collaboration will enable the firms to support merchants by providing them with access to financial solutions not available through traditional sectors. With the fintech firm’s seamless micro-financing solutions, merchants on the platform can undertake business opportunities to scale with confidence.

As e-commerce is a key economic driver for Malaysia, the e-commerce firm’s is focused on boosting SME growth with the right tools, support and financing to succeed.

By working with like-minded allies such as to remove barriers to business, the platform is creating a continuity plan for the country’s digital economy.

The parent company of the fintech firm has been focused on accelerating digital adoption since 2014 in its principal markets by offering innovative financial solutions such as e-wallets, microfinancing and micro-insurance.

Its efforts to promulgate digital technology is aimed at securing a future-ready and financially inclusive society for the underserved economic while showcasing the business benefits of information communications and technology for success and growth for micro-enterprises and SMEs.

The e-commerce platform is committed to uplifting communities through e-commerce, actively driving and championing initiatives aimed at building a sustainable e-commerce ecosystem to future- proof the digital economy.

The company strives to make e-commerce accessible to all through its capabilities in technology, logistics and “shoppertainment”, and to enable entrepreneurs to reach their full potential online so that everyone can sell, regardless of their background or location.

Malaysia’s Digital Economy to Expand

  • According to an earlier report, Malaysia’s digital economy expanded RM267.7 billion in 2018, contributing 18.5% to the national economy, according to the Department of Statistics.
  • However, the digital economy growth in Malaysia pace moderated to 6.9% year-on-year as compared with the 9.8% recorded in the previous year.
  • Information and communications technology (ICT) contributed 18.5% to the country’s gross domestic product (GDP) comprising cash back value-added of ICT industry (GVAICT) (12.6%) and e-commerce for non-ICT industries (5.9%).
  • Malaysia’s Chief Statistician stated that telecommunications services were the main impetus in ICT services, while ICT manufacturing was supported by electronic components & boards, communication equipment and consumer electronics.
  • With digital transformation set to contribute US$10 billion to Malaysia’s GDP by 2021, the government’s move to enhance the country’s digital infrastructure is undoubtedly a step forward towards a stronger, more resilient economy.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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