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Events

Youth Co:Lab Summit 2024: Providing a Platform for Singaporean Youths to Shine

SINGAPORE: Representing Singapore – Greenairy and Moonbeam, young social enterprises focused on air purification and repurposing excess produce respectively, joined over 200 participants from 20 countries and territories gathered in the Philippines at the Youth Co:Lab Summit 2024. Centred on the theme of ‘Inclusive Entrepreneurship’, the summit became a platform to celebrate and highlight the critical role of young entrepreneurs from diverse backgrounds in driving sustainable and equitable economic development and in advancing the implementation of the United Nations Sustainable Development Goals (SDGs). The Youth Co:Lab Summit 2024 by the United Nations Development Programme (UNDP) and Citi Foundation, was organised together with the Asian Development Bank (ADB), and the Department of Trade and Industry Philippines (DTI). Held at the ADB Headquarters in Manila, Philippines, the Summit was a platform to champion inclusivity in entrepreneurship, promote youth-driven climate initiatives, and harness digital skills where young social entrepreneurs present their inclusive solutions, female-centric initiatives, support for underserved communities and innovative climate responses to build inclusive and just societies. The 2-day summit saw participants from diverse backgrounds, including young social entrepreneurs, government delegates, private sector partners, investors, and other youth community partners also joining virtually. Greenairy Founder, Tanvi Ravindra Thombre and The Moonbeam Co-Founder, Toh Varden showcased their innovative solutions before a high-level judging panel at the regional summit, highlighting their commitment to sustainability and inventive approaches. Greenairy is a brand that provides an innovative plant-based air purification solution for indoor spaces, delivering clean air efficiently through active air phytoremediation technology, while The Moonbeam aims to repurpose excess produce and create high-value products that can be consumed instead of wasted. Commenting on the experience, Tanvi said, “Meeting other youth change-makers and hearing about their diverse solutions reinforced the power of the youth in driving impactful change. We will take these insights back and continue to grow our sustainability efforts with Greenairy.” Meanwhile, Citi Foundation Chief Operating Officer, Florencia Spangaro said, “Through our Pathways to Progress job skills-building initiative, the Citi Foundation has been a longtime supporter of organisations working around the globe to address the persistent issue of youth unemployment.” The summit also provided a regional space for young social entrepreneurs across the Asia-Pacific region to foster knowledge and idea exchanges through networking and collaboration, inspire and engage youth to take action, discuss emerging trends in the youth entrepreneurship ecosystem, advocate for policies to enhance its resilience and inaugurate collaborative initiatives for inclusive youth entrepreneurship. Youth Co:Lab, co-created by UNDP and the Citi Foundation in 2017, is the largest youth movement for empowerment, social entrepreneurship, equality, and social inclusion in Asia Pacific and has supported young people in 28 countries and territories. Since its inception, activities supported by Youth Co:Lab have reached 280,300 participants across the Asia-Pacific region.

News, Property

MIDF Amanah Maintains Positive Outlook on Property Sector

KUALA LUMPUR: MIDF Amanah Investment Bhd has maintained a positive outlook on the property sector as the better loan application data indicated stronger buying interest. In its research note, MIDF Amanah said the growing loan applications should underpin developers’ earnings outlook. “We think that the stronger buying interest is supported by a lower residential overhang in Malaysia, stable house price outlook and improving economic outlook for Malaysia,” it said. MIDF Amanah named Mah Sing Group as its top pick for the sector, placing a ‘buy’ call on the property developer’s shares with a target price (TP) of RM1.97 due to its high exposure to the affordable residential segment, supported by strong buying demand. It said Mah Sing continues to expand its landbank which should continue to sustain its new sales and earnings growth, adding that the property developer’s venture into a data centre would provide recurring income in the long term. “Meanwhile, we are positive on Matrix Concepts, with a ‘buy’ call (TP RM2.05) due to the resilient sales from its Bandar Sri Sendayan township in Seremban which is supported by demand for affordable landed houses,” it said. MIDF Amanah noted that Matrix Concepts continues to expand its landbank in Labu which would spur earnings growth beyond the financial year 2027 and offers an attractive dividend yield estimated at 5.7%. According to Bank Negara Malaysia (BNM), total loan applications for the purchase of properties grew +3.2% year-on-year (YoY) to RM58.5 billion in May 2024, following a +15% YoY growth in April 2024. On a monthly basis, total loan applications in May 2024 recorded double-digit growth at +10.5% month-on-month (MoM), increasing to the highest level since April 2023. — BERNAMA

Investment & Market Trends

Southeast Asia Second-Largest Market After USA (Ex-China) by Ad Media Buying Volume in Mobile Gaming Industry for H1 2024

SINGAPORE: Mintegral, the leading data-driven, programmatic, and interactive advertising platform dedicated to helping mobile apps bridge the gap among the world’s most valuable markets, today announces the key findings in the dynamic market of Southeast Asia from its latest report ‘The State of Media Buying H1 2024 – SEA Spotlight’. The report reveals that Southeast Asia remains the second-largest market by ad media buying volume(app with ad media buys) after the United States (excluding China), reflecting the region’s dynamic growth and strategic importance in the mobile gaming industry. The region ranks first for ad views, again ex-China.  This represents a year-on-year growth of 11% in the volume of ad creatives produced compared to the other regions. Southeast Asia makes up approximately 55% of global in-promotion mobile games compared to global figures. Trailing behind the US, the Southeast Asian region is expanding rapidly. Countries like Indonesia, Thailand, and Vietnam lead in market size and revenue, with Indonesia emerging as the largest single market. The region’s mobile game revenue distribution shows Thailand and the Philippines as the most lucrative markets, with gaming revenues expected to see substantial growth by 2027. Rebounding from last year, action and puzzle games are particularly prominent in the region, both in terms of the number of games promoted and the volume of ad creatives produced, while playable ads are slowly gaining traction. The shift towards playable advertising is pronounced, with a high output of new playable creatives catering to various game genres. This trend is particularly strong in markets like Indonesia, Vietnam, and Thailand, where playable ads have become a crucial component of user acquisition and engagement strategies, underscoring the region’s robust demand for mobile gaming and its burgeoning advertising ecosystem. Erick Fang, CEO of Mintegral, said: “Southeast Asia’s position as a leading market by media buying highlights the region’s critical role in the global mobile gaming ecosystem. Our report provides valuable insights for marketers and game developers aiming to capitalise on this vibrant market. By understanding regional trends and adopting effective advertising strategies, businesses can unlock new growth opportunities and build awareness around their games.” Benefiting from this growth are games in the Philippines, demonstrating the efficacy of targeted advertising strategies. By leveraging Mintegral’s targeting capabilities and flexible bidding strategies, one of the games achieved over 2 million user downloads and improved in-game purchase rates, significantly boosting its market presence. Part of Mobvista Group, Mintegral is a data-driven, programmatic, and interactive advertising platform dedicated to helping mobile apps bridge the gap among the world’s most valuable markets. Mintegral’s full-stack programmatic products and services include a self-service advertiser platform, monetization platform, and a creative automation platform powered by Mindworks, Mintegral’s creative studio.  The full report can be found on: https://www.mintegral.com/en/blog/southeast-asia-media-buying-report-h1-2024.

Investment & Market Trends

Texchem: 1HFY24 Revenue Rose 12.1% YOY to RM570.4 Mil

GEORGE TOWN: Texchem Resources Bhd, a prominent Malaysian conglomerate listed on the Main Market, has released its financial results for the second quarter (“2QFY24”) and first half (“1HFY24”) ended June 30, 2024. During 2QFY24, Texchem’s revenue surged 22.6% year-on-year to RM294.7 million from RM240.5 million in 2QFY23, driven by robust sales across all core divisions. This growth propelled Texchem back to profitability, reporting a net profit of RM1.0 million compared to a net loss of RM6.3 million in the same quarter last year. Executive Chairman Tan Sri Dato’ Seri (Dr) Fumihiko Konishi commented on the turnaround, stating, “The 2QFY24 financial performance marks a significant improvement, and the Group remains committed to enhancing its operational efficiency.” Key highlights include the Industrial Division achieving a 25.5% YoY revenue growth to RM134.7 million, driven by sales enhancements, while the Polymer Engineering Division saw revenue rise 35.2% YoY to RM56.9 million, buoyed by recoveries in semiconductor, hard disk drive, and medical life sciences sectors. The Food and Restaurant Divisions also reported revenue increases of 17.3% YoY and 10.6% YoY respectively. For 1HFY24, Texchem’s revenue rose 12.1% YoY to RM570.4 million, primarily due to improvements in the Industrial and Polymer Engineering Divisions. The Group’s bottom-line performance improved as well, with a narrowed net loss of RM0.4 million compared to RM6.5 million in 1HFY23.

Events

Revolutionising CFD Trading with DiNapoli’s Leading Indicators: EBC Financial Group Announces Strategic Partnership

BANGKOK: EBC Financial Group (EBC) is pleased to announce the successful conclusion of its event, “Revolutionising CFD Trading with DiNapoli’s Leading Indicators.” This event marked a significant milestone in the world of CFD trading, featuring a signing ceremony with renowned trader and author, Joe DiNapoli, and was attended by a distinguished audience of international and local media, KOLs, VIP clientele, industry specialists, and business leaders. The event highlighted the strategic partnership between EBC Financial Group and DiNapoli’s leading indicators, integrating DiNapoli’s renowned trading approach into the CFD trading realm. EBC, celebrated for its rapid order execution, institutional-grade liquidity access, and robust security systems, is a premier global financial services provider. With top-tier regulatory licenses from the UK, Australia, and the Cayman Islands, EBC offers compliant, professional, and efficient trading services. This alliance aims to provide investors with advanced insights and tools to master effective trading strategies in today’s dynamic market. Regulatory Insights: Enhancing Global Market Stability David Barrett, CEO of EBC Financial Group’s UK and Cayman entities, EBC Financial Group (UK) Ltd and EBC Financial Group (Cayman) Limited, opened the event with an insightful overview of the regulatory landscape affecting financial brokerages. He detailed the role of key regulators in maintaining system stability and integrity across various jurisdictions. Barrett highlighted the significant evolution of the regulatory environment, noting that many less stringent jurisdictions previously attracted those who preferred easier regulations. However, he emphasised that since the financial crisis, there has been a concerted effort to elevate these jurisdictions to higher compliance standards. “This shift has resulted in a more robust and reliable regulatory framework worldwide,” Barrett concluded.   56 Years of Trading Wisdom The event saw acclaimed trader and author of “Trading with DiNapoli Levels,” Joe DiNapoli, share his extensive trading knowledge gained over his 56-year career. DiNapoli, renowned for his accurate market predictions, captivated audiences with his unique insights on market trends, technical analysis, and the evolution of trading strategies. His seminal book, which has been translated into twelve languages, has influenced traders worldwide. Over the decades, DiNapoli has successfully forecasted significant market events, including the 1987 market crash and various critical turning points in the S&P futures market.   Reflecting on a pivotal moment in his career, he remarked, “I was listening to my colleagues and thought, wouldn’t it be invaluable if we could predict where gold would be overbought tomorrow or where the S&P would be oversold?” This revelation underscored the critical importance of predictive indicators in trading, highlighting their potential to provide traders with a competitive edge by anticipating market movements accurately.   DiNapoli emphasised the critical importance of execution in trading, stating, “Great execution, great execution, great execution is so important. This was 42 years ago and still the industry does not teach leading indicators. We do, they don’t.” He illustrated how his use of advanced indicators like the MACD predictor and the Detrended Oscillator Predictor (DOP) transformed his approach, allowing him to forecast overbought and oversold levels with remarkable accuracy. This pioneering work has provided traders with tools to improve their trading precision and decision-making. DiNapoli stressed the necessity of using advanced indicators to stay ahead in the market.   Practical Strategies with DiNapoli Levels Lawrence Smart, a DiNapoli expert and trading educator from Australia, shared his practical application of DiNapoli Levels in trading. Reflecting on his 17-year trading journey, Smart explained how various methods, such as moving averages and trend trading, offered mixed results and lacked precision.   Smart emphasised the importance of risk reduction in trading: “What this did for me was provide clarity, boost my confidence, and reduce my risk. In trading, reducing risk is imperative. To put money on the line, especially substantial amounts, you need confidence and belief in your trading method. Without confidence in your method, you won’t trade effectively.” Smart highlighted the effectiveness of using leading indicators to anticipate market movements, enabling traders to make informed decisions, manage trades more precisely and mitigate risks. Through a detailed walkthrough of a real EURUSD trade, Smart demonstrated how to use leading indicators to enter the market with precision.   Analysing Japan’s Currency Depreciation Pieter van Wyk, a professional trader and hedge fund manager, provided an in-depth analysis of Japan’s strategies for managing currency depreciation. “The practice of borrowing at low interest rates to invest in higher-yielding assets can lead to a depreciation of the currency over the medium term. This phenomenon is currently observed with the Yen.”   Van Wyk’s analysis offered a comprehensive understanding of macroeconomic influences on trading and the implications of the Bank of Japan’s policy adjustments. He discussed the significant impact of the carry trade on the Yen’s value and how real rate differences between countries affect currency strength. Van Wyk demonstrated how traders could identify key points of intervention and assess the long-term stability of the Yen.   Trading Insights with Monchai Kongthanapakdi Monchai Kongthanapakdi, a DiNapoli expert in Thailand, addressed frequently asked questions about professional trading, offering deep insights into the intricacies of market behaviour. “What does a professional trader do? How do they listen to the market? What is their mindset? What are their triggers? What do they wait for?” Kongthanapakdi explored the mindset and techniques that set successful traders apart, emphasising the importance of listening to the market’s subtle signals and understanding its dynamics. EBC remains dedicated to fostering collaborative knowledge across geographical boundaries. This event not only underscored the importance of advanced trading tools but also reinforced EBC Financial Group’s unwavering commitment to empowering traders with the knowledge and resources needed to excel in the financial markets. By continually providing innovative solutions and exceptional service, EBC leads the way in supporting traders and clients worldwide.  

Energy & Technology

ViewQwest Showcases Malaysia’s First 10Gbps Internet with Interactive Demonstrations

KUALA LUMPUR: ViewQwest, a leading telecommunications and managed security services provider in the region, successfully hosted a landmark event at The Stride Strata Office @ BBCC in Kuala Lumpur, showcasing Malaysia’s first 10Gbps service. The event was graced by the presence of YB Gobind Singh Deo, Minister of Digital, who highlighted the significance of this advancement in driving Malaysia’s digital transformation forward. The showcase event offered an immersive journey into the future of high-speed connectivity and digital innovation. Attendees had the opportunity to engage in interactive demonstrations designed to exhibit the speed and reliability of the 10Gbps service. The 10G Speedtest demo showcased the true potential of 10Gbps internet, allowing attendees to experience lightning-fast downloads and uploads, all powered by cutting-edge Ethernet technology. Additionally, the power of the latest Wi-Fi standard, Wi-Fi 7, was demonstrated, revealing its benefits such as ultra fast speeds, low latency, and increased capacity, perfect for supporting the growing demands of our connected lives. Guests also explored the world of next-generation gaming using the Playstation VR2 for the PS5. The 10G service unlocked the full potential of next-generation VR gaming, offering unparalleled detail and lightning-fast response times for a truly immersive and exhilarating experience.Cybersecurity was also a key focus of the showcase. Demonstrations on next-generation security threats, including AI deepfakes, illustrated how high-speed internet unlocks new possibilities while introducing new challenges.[JCF1]  Attendees learned about advanced security technologies that ViewQwest employs to protect against evolving cyberthreats.  The event featured engaging discussions with ViewQwest’s leadership and representatives, who shared insights into the future of connectivity and security in Malaysia. The showcase provided attendees an exciting peek into the transformative potential of 10Gbps internet speeds.  ” By making 10Gbps internet available  to Malaysia businesses and homes we are redefining  connectivity standards and strengthening our commitment to support the country’s digital future.” shared Vignesa Moorthy, Founder & CEO of ViewQwest.    The 10Gbps service is available as a custom solution to meet the specific needs of businesses and high-bandwidth users. This bespoke approach ensures that each customer implementation delivers optimal performance and the configuration to meet their unique requirements. Customers can register their interest via [email protected], after which a dedicated ViewQwest team will contact them to schedule the necessary technical assessment.  Stay tuned for further updates as ViewQwest continues to expand the availability of this groundbreaking service across Malaysia.

The Executives

Transforming Tech with a Human Touch: Karen Kim’s Vision for the Future of AI and Inclusivity

With the rise of advanced technology, comes the emergence of multi-faceted companies that leverage such technologies to better serve their customers and the community in general. For Human Managed CEO, Karen Kim, she believes that there is always a human element at the heart of all technological solutions. This belief pushed her to establish a company that is rooted in a deep understanding of the business context of enterprises and decision-makers. “My unique perspective is to understand the problems we are trying to solve from a ‘non-technical’ perspective and define the core of Human Managed solutions,” she explained in an exclusive interview with The Exchange Asia. During the early days of her career, Kim honed her skills in the telecommunications sector which exposed her to the evolving landscape of cloud and software infrastructure and taught her valuable lessons in adapting technology for optimal business outcomes. In 2017, Kim’s path intertwined with Saleem Javed, the visionary founder of Human Managed, during their tenure at a shared firm. Saleem’s vision of harnessing data intelligence to revolutionise service delivery resonated deeply with Kim. It was this shared vision that propelled her to join Human Managed. Kim also began to gain an understanding of how skillsets help people get jobs done rather than just relying on academic qualifications. Stepping into the role of CEO at Human Managed, Kim focused on defining what value means to them intrinsically and to their customers and partners. Despite initial uncertainties, she embraced the challenge with determination and a learner’s mindset. “One day, I was one of many account managers at a social networking company, and the next day, I was the CEO of a start-up with big and scary ambitions. The prospect was daunting. Could I, at 30, lead a company with no prior ‘relevant’ experience? “If the decision had been left to my own devices, I probably would have listened to my inner voice that I was not good enough and would disappoint everyone. However, the founder, Saleem, believed in my capabilities. My partner, friends and family encouraged me to go for it,” she revealed. Today, Kim’s leadership style is a blend of emotional intelligence and operational excellence. She emphasises transparency, inclusivity, and a flat organisational structure at Human Managed, fostering an environment where diverse talents thrive and contribute across various functions. Leading for Diversity During her childhood, Kim migrated to Hong Kong from Seoul, which helped her to be more open to new experiences even at a young age. More specifically, it has influenced her leadership approach as an adult. “When I moved to Hong Kong at age eleven because of my father’s business, it wasn’t easy to be uprooted from Seoul. I couldn’t even speak English and was enrolled at the American International School. But soon, I learned to make new friends, moved to a British school, and eventually moved to the UK for university. “My parents helped me embrace fundamental principles – to see the world, embrace different cultures, and be open to possibilities – making me believe that I could work and grow through changes. Looking back, I realise that my parents taught me resilience through their actions, jumping into the deep end of unknown environments with me,” she said. Today, Kim adopts a similar approach to life, which is to try new things and give it her best shot while doing so. “In my early days of being a CEO, I struggled with trying to conform to the stereotypical expectations of a CEO or an entrepreneur. I emulated different leadership styles even though it didn’t come naturally to me. I began to focus instead on the operational aspects of the business – problem-solving and meeting customer needs. “I actively collaborated with my team, learning from their expertise and understanding what was necessary to achieve our goals. This marked a shift towards a more hands-on, operational style of leadership,” Kim went on. “As a leader, I remain eager and without preconceptions, as so much of what we do has never been attempted before—it’s become a baseline mode of operations for us at Human Managed,” she added. Having that in mind, Human Managed embraces diversity in all forms, fostering an inclusive culture that values varied perspectives and talents. According to Kim, a key element of the company’s diversity and inclusion strategy is flexibility in roles and responsibilities. Rather than being confined to fixed roles, individuals can explore and contribute to different functions across the platform based on their skills and interests. Many employees at Human Managed have taken on roles different from their educational background, previous jobs, or experience. This approach empowers the team to take ownership of their work and drive initiatives aligned with their passions. “Ultimately, our focus is on the work and the tasks at hand, valuing each individual’s contributions and fostering an environment where everyone feels respected and appreciated. This inclusive mindset is the foundation of our success as a diverse and vibrant team,” Kim said. Bringing Enterprises Advanced Tech Capabilities Central to Human Managed’s approach is its I.DE.A (Intelligence Decision Action) platform – a sophisticated framework comprising modular functions and microservices that integrate data sources and deliver personalised intelligence. “Companies operate in complex data environments with many different technologies working independently. Additionally, there may be older tech architectures that are not effective. “Along with possible tech talent shortage, the business may be using solutions without fully understanding their business context or relying on incorrect metrics, eventually leading to information overload. This, in turn, can cause indecisiveness and inaction, exposing companies to potential threats and missed opportunities,” Kim explained. With I.DE.A, the platform exemplifies Kim’s vision of leveraging AI to solve complex business challenges by integrating data from any source while generating relevant and personalised intelligence, decisions, and actions for cyber, digital and risk use cases. Looking ahead, Karen envisions a future where AI-driven technologies democratise access to advanced tools, catalysing digital transformation and innovation across industries. She advocates for responsible AI deployment, emphasising the importance of data privacy

Investment & Market Trends

Iskandar Investment Berhad Launches Tech Medini: Catalysing the Digital Economy Sector for JS-SEZ

ISKANDAR PUTERI: Iskandar Investment Berhad (IIB) launched Tech Medini today, a landmark initiative marking a significant leap forward in solidifying Medini’s position as Johor’s premier Digital and Innovation Hub. The event was held at Mall of Medini with approximately 200 members of IIB’s quadruple helix ecosystem in attendance. Tech Medini, a 160-acre clustered development zone, is set to become a tech hub where ecosystem players thrive in developing emerging technologies with like-minded innovators from various fields such as AI, Autonomous Drones, Robotics, Cybersecurity, Bioengineering, Quantum Computing, Immersive Reality, Space Technology, and more. This initiative aligns with Iskandar Investment Berhad’s target of driving RM9 billion in investments and creating 65,000 jobs in the Medini area, contributing to the evolution of Malaysia into a high-income nation in the era of Industry 4.0.   Dato’ Idzham Mohd Hashim, President/Chief Executive Officer of IIB stated, “With a strategic focus on supporting the Johor-Singapore Special Economic Zone (JS-SEZ) framework, Tech Medini aims to position Medini as a premier destination for investors, offering a cost-efficient business environment for the region. Leveraging on emerging technologies and fostering creative collaborations, Tech Medini seeks to empower businesses in adopting new innovations and accelerating digitalisation to drive sustainable growth in the region. This, in turn, fuels the reinvigoration strategy we’ve established for Medini, attracting high-tech businesses and skilled talents, ultimately contributing to a sustainable and thriving metropolis.”    The Heart of Innovation and Sustainable Growth   Building upon the success of existing initiatives like Global Business Services (GBS) Iskandar@Medini, Drone and Robotics Zone (DRZ) Iskandar and Blockchain Village@Medini (BV@M), Tech Medini serves as a nucleus designed to empower startups and accelerate them towards growth and success. Tech Medini offers a range of growth development programmes and support services with the announcement of Medini Nexus and Medini Soft Landing Programme.   The Medini Nexus is a platform that provides the startup community an avenue to ideate, accelerate and validate their ideas. It grants access to ready co-working spaces, mentorship by seasoned entrepreneurs, entrepreneurship programmes and test site environments. This platform would enable the startups to build a strong foundation for success, fostering creativity and innovation towards shaping a sustainable business in the future.   Acknowledging the challenges faced by the international startups, The Medini Soft Landing Programme helps to facilitate international companies in setting up their business in Medini. It offers a packaged support services in allowing the ease of market entry with guided consultation on business registration setup, office spaces, accommodation options, talent requirements, and localisation services.     As we continue to help nurture and boost the startup ecosystem, IIB also supports the Dana Impak initiative under Khazanah’s Future Malaysia Programme. This initiative was launched in March 2023 with the aim to spur the local startup ecosystem with a commitment of RM6 billion of funds to be deployed over five years. Dana Impak is a key pillar under the Khazanah’s Advancing Malaysia strategy, seeking to invest across six (6) themes based on issues and challenges facing the nation, which include Digital Society and Technology, Quality Health and Education for all, Decent Work and Social Mobility, Food, and Energy Security, Building Climate Resilience and Competing in Global Markets. At the same time, IIB invites potential VC partners to be part of the funding ecosystem by growing their portfolio of investments and optimising value creation in the region.   IIB calls upon more collaborators to embrace the next wave of innovation by joining the vibrant ecosystem at Tech Medini and contribute to shaping the future of Johor’s premier innovation and digital hub. For more information on Tech Medini, visit www.techmedini.com  

News

Paytm Payments Bank appoints ex-IDBI Bank executive Arun Bansal as new CEO

Paytm Payments Bank, an associate entity of One97 Communications (OCL), which operates the Paytm brand, has appointed Arun Kumar Bansal as managing director (MD) and chief executive officer (CEO). Bansal is a former IDBI Bank executive. The Reserve Bank of India (RBI) had approved Bansal’s appointment as the MD and CEO of the payments bank, he communicated on June 20 to IDBI Bank. “With pleasure, I wish to inform you that RBI has approved my appointment as MD and CEO of Paytm Payment Bank. Therefore, I hereby tender my resignation from the service of the (IDBI) Bank,” he said in his resignation letter.– Business Standard.

News

Ingenico appoints Anushka Weeratunga as Regional Managing Director in APAC region

PARIS and SINGAPORE: Ingenico, the global leader in payment acceptance and services, is pleased to announce the appointment of Anushka Weeratunga as its Regional Managing Director in APAC and a member of the Executive Committee, effective immediately. Anushka, who served as Country Business Leader for the Pacific, has been a driving force of Ingenico’s business growth in the Pacific region over the past three years. Anushka Weeratunga joined Ingenico from one of the leading Australian banks and has an in-depth knowledge of payment ecosystem. Anushka has a proven track record in driving accelerated business growth, strategic business development, transformational change, and new market entry through the leadership of diverse teams. “Anushka’s appointment is a testament to our commitment to nurturing internal mobility and recognizing the exceptional talent within our business. His strategic vision and leadership capabilities have been instrumental in our success in the Pacific, and I am confident that he will bring the same level of dedication and innovation to the APAC region and the Executive Committee,” said Laurent Blanchard, CEO of Ingenico. Please join us in welcoming Anushka Weeratunga to his new role at Ingenico. We are looking forward to the vision and leadership he will bring to our organization.

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