Investment & Market Trends

gimmefy.ai , a leading generative AI marketing platform, headquartered in Singapore, is excited to announce its expansion into North America, with strategic partnership plans in the Philippines to follow suit. gimmefy stands out as a high-credibility player in the market, recognized by the IMDA (Infocomm Media Development Authority) of Singapore. This endorsement, through the IMDA Spark program, signifies gimmefy’s commitment to responsible AI development. A regional partnership with Philippine’s ActivAsia group is also on the cards in the following weeks to bring a customized solution specifically for the Filipino market. With a robust track record of success in the Asian market, gimmefy is now set to bring its innovative AI-driven marketing solutions to North American businesses. The platform is built on the perfect marriage between advanced AI models and the best of marketing expertise. Essentially it’s built for and by marketers. Shalu Wasu, gimmefy’s CEO and co-founder, is a seasoned marketer, both on the brand and agency sides. He states, “What truly sets gimmefy.ai apart is our commitment to combining the power of AI with the wisdom and experience of human marketers. gimmefy’s approach ensures that content created by the platform is not only creative but also aligns perfectly with what friends in the marketing industry demands of us.” Matt Fusco, a seasoned industry veteran, will spearhead gimmefy’s efforts in North America. As CEO, North America, Fusco will focus on building gimmefy’s overall presence, assembling a dynamic team, and capitalizing on the substantial opportunities in the North American market. His leadership will be pivotal in establishing gimmefy.ai as a key player in the generative AI marketing space. “As the marketing landscape evolves, so do the needs of marketers. GPT-based solutions, while offering an initial foray into AI-powered marketing, now struggle to deliver the effectiveness, diversity, and speed demanded by today’s professionals,” said Matt Fusco. gimmefy.ai uses not just one, but multiple leading large language models (LLMs), combined with the expertise of seasoned marketers. This potent blend fuels a platform equipped with over 140 automated tasks and 9 specialized AI assistants, capable of generating diverse content formats, multiple result sets, crafting captivating copy, and even assisting with stunning visuals. gimmefy.ai is the next step in AI marketing, empowering marketers to achieve exceptional results. Added Fusco “Businesses and brands trying to be seen and heard in a market like North America are particularly at an advantage. The North American landscape is diverse, hyper-creative, and steeped in competition. With a marketing-specific AI partner like gimmefy, there will be some positive disruption creatively, as well as a creation of opportunities for marketing teams.” gimmefy’s clients, including global names like SEK, IMDA, DBS, ActivAsia, Motul, and many more, rave about experiencing up to 90% savings in time and costs. Not surprisingly, gimmefy is a trusted partner for businesses of all sizes, from small, resource-constrained teams to large agencies managing multiple accounts. gimmefy.ai’s expansion into North America marks a significant milestone in its journey to become a global leader in AI-powered marketing. The company’s commitment to innovation and customer success will continue to drive its growth and impact in the industry. With Matt Fusco’s appointment, gimmefy.ai aims to build a talented team in North America and partner with businesses to unlock new levels of engagement and growth through the firm’s AI solutions.

SINGAPORE: Based on the data from Tracxn, analysts of UnaFinancial considered venture investments in fintech startups by various sectors. The world leader by fintech venture investment volume is North America with US$453 billion in 2023, which is projected to reach US$834 billion by 2028. Asia ranks second with $369 billion in 2023. The leading sectors of fintech there are e-commerce (59%), digital payments and transfers (17%) and digital lending (11%). According to the analysts, fintech venture investments may grow to US$548 billion by 2028, showing a 49%-increase. The experts said, “Drivers for positive change could include an evolving regulatory framework in the region as well as the high level of adaptation to newly developed technologies. This is confirmed by the EY FinTech Adoption Index, which shows that Asia retains its global leadership in fintech adoption.” The third continent with significant fintech investment volumes is Europe, with US$188.8 billion in 2023. The optimistic forecast for 2028 is US$383.8 billion (+103%). South America is fourth with US$30 billion invested in fintech startups in 2023, followed by Australia (US$12.8 billion) and Africa (US$9.6 billion). By 2028 these volumes will grow to US$35, US$22.4 andUS$ 22.2 billion respectively. The global volume of fintech venture investments amounted to US$1.06 trillion in 2023. According to UnaFinancial’s estimate, the volume of investments in fintech startups could increase by 77% to US$1.88 trillion by 2028.

KUALA LUMPUR: The withdrawal of BlackRock’s investment from Malaysia, if it happens, will have implications and negative impacts on efforts to realise the country’s investment agenda, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz. BlackRock is a shareholder in various listed companies worldwide, including sovereign funds from Saudi Arabia, the United Arab Emirates, Oman, Bahrain, and Indonesia. According to him, BlackRock, which is the largest asset manager in the world with assets under management worth US$10.5 trillion as at March 31, 2024, also holds equity investments in 100 public-listed companies in Malaysia as of May this year. “This includes the industrial sector, with the three largest entities being banking institutions in the country. Overall, BlackRock owns assets worth approximately RM27.5 billion in Malaysia,” he said during the Minister’s Question Time in the Dewan Rakyat, today. Tengku Zafrul said this in reply to a question from Lim Guan Eng (PH-Bagan) regarding the investment details by BlackRock in Malaysia and the impact on the economy if all of BlackRock’s investments over the past decades were divested. He said of that amount, RM20.5 billion of BlackRock’s investment was in the Bursa Malaysia stock market and around RM7 billion in government and corporate bonds in the country. Among BlackRock’s investments in the government-issued bond market include Malaysia Sukuk Global Bhd; Export-Import Bank of Malaysia Bhd; Malaysia Wakala Sukuk Bhd; Petroliam Nasional Bhd; and Malaysia Sovereign Sukuk Bhd. BlackRock is also a shareholder of several large multinational companies operating in Malaysia including Microsoft, Boeing, Intel, and Texas Instruments. “Companies such as Microsoft, Boeing, Intel, and Texas Instruments that have shares owned by BlackRock contribute to the development of the industry and the states through investment projects carried out in Malaysia. This includes Intel, which contributes to the growth of the semiconductor sub-sector in Penang; Infineon in Melaka and Kedah; Texas Instruments in the electrical and electronics industry in Melaka and Kuala Lumpur (KL); and Boeing’s subsidiary, Aerospace Composites Malaysia Sdn Bhd, in the aerospace industry in Kedah. Microsoft also recently announced an investment that will contribute to the development of data centre infrastructure at a new location to be determined later. “Overall, the companies that I mentioned just now represent foreign investments that have made significant investments in Malaysia, as well as create job opportunities, particularly in the high-tech and high-value sectors targeted by the country,” he explained. Elaborating further on these investments, Tengku Zafrul said Intel has invested RM32 billion and employs more than 10,000 workers, while Texas Instruments has invested RM13 billion and employs more than 2,000 workers in Malaysia. Boeing, through its subsidiary, Aerospace Composites Malaysia, has invested RM300 million and employs 900 workers, while ROHM Electronics (Malaysia) in Kelantan has invested RM3 billion and employs more than 2,000 workers. “Infineon, which has operations in Kedah and Melaka, has announced an additional investment commitment of RM25 billion, and to date employs more than 13,000 Malaysians. “At present, Microsoft employs over 200 workers in Selangor, Penang, and KL. On May 2, 2024, the company announced an additional investment commitment of RM10.5 billion,” he said. In terms of trade, Intel has contributed RM50 billion in export value for semiconductor components; Texas Instruments contributed RM20 billion in electronics components export value; and Microsoft has contributed RM15 billion in export value for information technology services. According to Tengku Zafrul, Malaysia does not practice any policies that prohibit investments from global companies like BlackRock and their involvement in public-listed companies on the stock market. “We do not have any involvement or policies that prevent them at this time,” he said. Regarding the sale of shares in Malaysia Airports Holdings Bhd, the minister said that this has already been addressed by Prime Minister Datuk Seri Anwar Ibrahim this week. “Regarding the Cabinet, perhaps I can provide some clarification in terms of governance. The decision was indeed made at the Khazanah Nasional Bhd level, so as a member of the Cabinet, I was only informed during the Cabinet meeting by the Prime Minister, and at that time, the decision had been made,” he said. – Bernama

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.”