Investment & Market Trends

Rockwills International Group (Rockwills), the leader in will writing and estate planning, is seeing an uptake in demand for its Trusts services, following on the heels of growth chalked up by Will writing, the traditionally widely-used estate planning instrument. In 2023, Rockwills wrote more than 18,000 Wills bringing the accumulated number of Wills written for the three-year period from 2020 to 2023 to 71,000 Wills. This marks a 25% increase over the three-year period from 2016 to 2019. Since the introduction of its Trust services in 2006, demand has remained steady.  To date, the Group services more than 18,000 Trusts with more than 11,000 being set up between 2015 and 2023. Group Chief Executive Officer Azhar Iskandar Hew, attributed the increase in demand to a growing awareness, particularly among young parents, business owners and those with specific needs, of Trusts and the advantages it has over Wills in terms of ease of estate distribution. “With Trusts, the distribution of assets to beneficiaries can begin without the need for a waiting period as opposed to obtaining probate in the case of Wills in the event of death. Distribution to beneficiaries can also begin even in non-death situations of settlor (person who sets up trust) such as comatose or permanent disability or extended disappearance,” he added. Azhar explained that unlike the Will which comes into effect only upon death, Trusts can be effective estate planning instruments to serve the preservation of family wealth for multiple generations. A Trust can be used to consolidate ownership, which is extremely useful for succession in family businesses, thus avoiding fragmentation of business ownership, loss of control and even family dispute. Additionally, Trusts can be used to fulfil specific purposes such as providing funds quickly to young children or to a special needs child upon the death or disability of the primary financial providers as well as for asset protection. Azhar added: “Notwithstanding that, Will writing will always be a widely used estate planning instrument. This is due to its simplicity in getting it prepared and ease of making changes to it from time to time. “However, as understanding and sophistication increase, there is an emerging trend of combining Wills and Trusts as a comprehensive solution to meet the needs of wealth protection, preservation, and distribution,” added Azhar. In tandem with this and to cater to the discerning needs of its customers, Rockwills is expanding by moving its operations to Plaza Armada in Petaling Jaya. The Group will occupy two floors within the building. Rockwills has also expanded beyond the Central Region with the opening of new branches in Ipoh and Kuantan to cater to the needs of its customer base. The Group plans to open additional branches in the near future. In conjunction with the move and to celebrate its 29th anniversary, the pioneer Wills and estate planner has introduced a Prepaid Gold Limited Edition package. Under the package, customers who appoint Rockwills as their executor and/or trustee can lock in estate administration rates to hedge against inflation. Further information can be obtained from Rockwills Trustee Berhad. Since its incorporation in 1995 (29 years ago), Rockwills has written more than 320,000 Wills across a wide spectrum of clientele.

KUALA LUMPUR: BROKU – Malaysia’s leading food and beverage (F&B)  branding and marketing strategist – is currently working to raise RM 20 million in funds for its expansion over the next 12 to 18 months. Notably, Retail Group Malaysia reports that Malaysian F&B kiosks and stalls experienced significant growth of 13.5% throughout 2023, aligning with BROKU’s mission to support, structure, and supply the growth of Malaysia’s F&B MSMEs. With this in mind, alongside the fundraising, BROKU is launching its flagship product, Broku.com – a digital marketplace specifically for the F&B industry that uses data-driven technology to customise user engagement and drive traffic into merchant outlets.   To date, BROKU has helped almost 10,000 restaurants so far in the complete transformation of their businesses. Furthermore, the brand has also raised additional funds totalling RM 2.566 million through angel investors. With the total funds raised, BROKU will be able to expand its Malaysian team capacity, as well as funnel resources into other initiatives including its marketing efforts, customer acquisition strategies, technology expenses, and other operational enhancements.    This will enable the company to not only channel additional funding to restaurants, but also to increase its marketing expenses. With this, BROKU will then be able to strengthen its in-house technological infrastructure, as well as grow its partner restaurant network. For the Broku.com platform, the brand aims for 50,000 merchants to be listed on the platform within 12 months.   “Personally, I have spent over two decades of my career in the entrepreneurship space – specifically in the food and beverage sector – but this is a brand new, monumental, and life-changing milestone not just for me, but for the company,” says Ku Addyfazly Ku Radin (Broku), Founder of BROKU. “It has been such an honour to help local F&B MSMEs turn their businesses around since 2020, especially thinking about how I would have appreciated access to the amount of resources and knowledge a brand like BROKU can provide at the beginning of my entrepreneurial journey.”   Through the extensive collection of transactional data and monitoring of key performance metrics, BROKU also aims to become a bridge for underserved and underbanked F&B merchants to have better access to credit and financing facilities. In fact, this initiative is designed to help address the RM90 billion financing gap between large corporations  and Malaysian MSMEs. In line with this, the brand’s secondary offerings include its BROKU Licensing Program (BLP), first launched in April 2023. Through the program, 200 companies so far – in various stages of business growth – have learned essential business skills, including honing their online presence through marketing and advertising, and enhancing their supply chain management by leveraging cutting-edge technology. In addition, the BLP supports F&B merchants in boosting their financial literacy, including aspects such as navigating financial documentation and management.   This specialised F&B business incubation programme not only provides these underserved participants access to BROKU’s extensive industry network and 24/7 centralised knowledge hub, but also was designed to upskill and upgrade the calibre of local F&B entrepreneurs. Overall, the BLP aims to help 3,000 merchants, with a success rate of 86% of participants experiencing growth between 35% to 90%. Most recently, for the merchants currently involved with the BLP, there has been a cumulative RM 15 million client revenue increase in total.   “I am proud to say that we actually saw a 35.6% average increase in revenue for our program participants so far,” adds Broku. “With this funding goal, we hope to be able to reach out to even more local MSMEs and ultimately supercharge the Malaysian F&B scene with business-savvy, world-wise entrepreneurs who will experience sustainable, consistent growth moving forward.”

CYBERJAYA: Dagang NeXchange Berhad (DNeX), through its wholly-owned subsidiary Dagang Net Technologies Sdn Bhd (Dagang Net), has successfully implemented Saudi Arabia’s Makkah Route initiative across six airports in three countries. The Makkah Route initiative simplifies the Hajj pilgrimage process by facilitating pre-clearance procedures in pilgrims’ home countries, ensuring smoother arrivals in Saudi Arabia with direct transfers to accommodations in Makkah and Madinah. In 2024, Dagang Net secured an RM11.5 million contract to support the Makkah Route initiative, playing a key role in ensuring a seamless Hajj pilgrimage for participating countries. Dagang Net focused on overseeing site facilitation and providing technical and technological equipment for the designated immigration pre-clearance areas established by Saudi Arabia. This involved collaboration between DNeX and countries including Malaysia, Indonesia, and Turkey. DNeX’s Executive Chairman, Tan Sri Syed Zainal Abidin Syed Mohamed Tahir, stated, “We understand the significance of Hajj for Muslims around the world. Contributing to initiatives like the Makkah Route fills us with immense pride, supporting such a significant journey of faith. By streamlining the entry process, we alleviate some of the challenges pilgrims face, allowing them to focus entirely on this holy experience.” He added that the Group’s involvement in the Makkah Route initiative has been a strategic success, allowing DNeX to contribute to a meaningful cause while gaining valuable experience working with international partners and airport authorities in Malaysia, Indonesia, and Turkey. This expanded DNeX’s regional presence and opened opportunities for future collaborations. Dagang Net was first awarded this project in 2019, initially tasked with providing site facilitation and technical and technological equipment at pre-clearance areas in Malaysia and Indonesia. Due to their successful implementation, they were awarded an additional site in Turkey in 2023, followed by three more sites in Turkey and Indonesia in 2024. The six sites involved are KUL – KLIA Terminal 1 (Malaysia), CGK – Soekarno–Hatta International Airport (Jakarta, Indonesia), SUB – Juanda International Airport (Surabaya, Indonesia), SOC – Adi Soemarmo Airport (Solo, Indonesia), IST – Istanbul Airport (Istanbul, Turkey), and ESB – Ankara Esenboga Airport (Ankara, Turkey). The project was awarded by Elm Company, a Saudi government-owned entity incorporated by the Public Investment Fund, the investment arm of the Saudi Ministry of Finance.

KUALA LUMPUR: Gentari Sdn Bhd, a clean energy solutions provider and a subsidiary of Malaysia’s PETRONAS Group, is partnering with Virta, a leading EV charging business solutions provider, to expand the EV charging network across Southeast Asia. Gentari, through its subsidiary Gentari Green Mobility Sdn Bhd, will utilize Virta’s digital platform services, technology, and industry expertise to deploy and operate EV charging infrastructure. Additionally, the partnership will collaborate with third-party entities to ensure EV charging interoperability in the region. As part of its long-term goal to become the leading green mobility solutions provider in the Asia Pacific, Gentari is rolling out advanced EV charging services through its clean energy platform, Gentari Go. Launched in Malaysia in February 2024, Gentari Go also offers access to chargers in Thailand and Singapore, reinforcing Gentari’s market-leading position in high-powered direct current (DC) charging. The network already includes over 2,400 charging points across these three countries, with plans to add another 2,000 by the end of 2024. “This partnership has vast potential to capture the momentum of the energy transition in Southeast Asia. Gentari Green Mobility has rapidly grown into a leading market player in e-mobility within a year and a half. We are excited to further catalyze growth with our market-proven, end-to-end global EV charging services and experience, particularly in Singapore, Thailand, and Australia. Our ecosystemic approach will enable faster EV penetration across the region, ‘Powered by Virta’,” says Virta co-founder and Chief Business Development Officer Elias Pöyry. “I am confident that Gentari is well-positioned to be a market leader in Southeast Asia. We have a significant presence in the region and a deep understanding of local business needs and consumer expectations. Partnering with an entity that brings global standards and industry experience is crucial for executing our plans with optimal speed and scale,” adds Shah Yang Razalli, Deputy Chief Executive Officer of Gentari and Chief Executive Officer of Gentari Green Mobility. Virta, the leading European EV charging platform, brings a decade of experience in EV charging services, having enabled over 1,000 charging networks in 36 countries, including the most mature EV markets in Europe. Virta has also been established in Southeast Asia since 2022. The demand for robust charging infrastructure is increasing as Southeast Asia and Oceania accelerate EV adoption, with several countries in the region already seeing double-digit EV shares in new car sales. The market in this region is expected to develop faster than in the US and EU, driven by a wide selection of EVs from local and Chinese manufacturers offering affordable models to meet the growing demand.

KUALA LUMPUR: Kinergy Advancement Bhd’s (KAB) wholly-owned subsidiary, KAB Energy Holdings Sdn Bhd (KEH), signed a memorandum of understanding (MoU) with Permodalan Kedah Bhd (PKB), a state-owned investment company in Kedah. This partnership, signed on June 19, 2024, will see both entities jointly work towards the realisation of clean, renewable energy projects by integrating their combined technical expertise and extensive business acumen. KAB executive deputy chairman and group managing director Datuk Lai Keng Onn expressed his optimism about this collaboration. “This partnership embodies a shared vision between KAB and PKB. Beyond this MoU lies a vision for accelerated growth to transform Kedah into a beacon of progress and innovation. “KAB values PKB’s dedication to advancing the state through innovative technologies that prioritise environmental impact reduction alongside achieving energy conservation, stability and resilience in line with Kedah’s sustainable development objectives,” he said in a statement. PKB will lead efforts in identifying potential land for renewable energy projects and assisting in obtaining project licensing and authorisation responsibilities. KEH, on the other hand, will assume the technical responsibilities, utilising its broad experience in the energy sector. PKB chief executive officer Tuan Mohd Azad Jasmi said the agency seeks to integrate its strategic land and resource management capabilities with KAB’s expertise in energy and engineering to advance sustainability-focused technologies. “Through this collaboration, we aim to foster substantial transformative impacts that support sustainable progress in Kedah, focusing on feasible energy project development,” he said. This collaboration aims to synergise the strengths of KAB and PKB in developing various energy generation projects across Malaysia, with a primary focus on Kedah. The MoU focuses on deploying clean energy (cogeneration, waste heat recovery), renewable energy (solar plant/farm and floating solar, rooftop solar PV, waste-to-energy, hydroelectric), energy-efficient (building management systems, chiller optimisation) solutions, and engineering scope of works (infrastructure and internal building works). PKB and KAB have forged a forward-thinking partnership that explores new opportunities, including implementing battery storage systems and solutions, district cooling systems for existing and new buildings and assets, and a commitment to further cooperation in sharing resources and information. Through this cooperative effort, KAB seeks to expand its market presence in a progressive Malaysian state, enhance its sustainable energy portfolio, and strengthen its position as a one-stop energy and engineering solutions provider. Recognising PKB’s trust, KAB is privileged to collaborate with PKB to pursue mutual objectives, generate new opportunities for both entities and contribute to the state’s economic and environmental goals. “Together, we aim to establish a model of innovation and sustainability that benefits both our stakeholders and the communities we serve,” Lai said, citing the MoU signing as evidence of the company’s ongoing success as a key energy player.