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The Executives

The Executives

Empowering A Digital Nation: How Sea Limited Is Fueling Malaysia’s MSME Transformation

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As Malaysia sets its sights on chairing ASEAN in 2025, the country’s digital economy is rapidly coming into sharper focus. At the heart of this shift is Sea Limited, a Southeast Asian tech powerhouse driving impact across e-commerce, digital entertainment, and financial services. Leading its Malaysian charge is Terence Terence Siau, Country Head, Sea Limited Malaysia As Southeast Asia’s digital economy continues its explosive growth, Malaysia stands at the cusp of a transformative chapter—poised to lead the region into a new era of digital integration. Driving this change is a new breed of innovation-led companies who not only provide platforms for business but build ecosystems that democratize opportunity and access. One such entity is Sea Limited, the tech juggernaut behind Shopee, Garena, and SeaMoney. At the helm of Sea Limited’s Malaysian chapter is Terence Siau, a key figure in the Founder’s Office and the current Country Head. In an exclusive interview with The Exchange Asia, Siau breaks down how Sea Limited is reshaping Malaysia’s MSME landscape, its role in preparing the country for ASEAN chairmanship in 2025, and the deep-rooted principles driving inclusion, innovation, and regional growth. A Mission Rooted in Inclusion Established as a consumer internet company with deep regional roots, Sea Limited’s vision goes far beyond digital transactions. It builds ecosystems, nurtures talent, and connects local businesses to regional markets. “We’re not just providing access—we’re creating a full-stack, inclusive digital ecosystem that allows micro and small businesses to thrive, scale, and connect with markets they never imagined possible,” shares Terence. This mission is made visible through Shopee, one of Southeast Asia’s largest e-commerce platforms, which now powers the online presence of over 2 million Malaysian sellers. But this number only scratches the surface. What truly differentiates Shopee is the suite of integrated, low-barrier tools it offers to MSMEs—from livestreaming and AI-driven product discovery to payment integration and seller education. Shopee University: An Engine for MSME Digital Upliftment One of Sea Limited’s flagship initiatives in Malaysia is Shopee University, a training and empowerment programme that has quietly become one of the most impactful digital education platforms for local entrepreneurs. Since its inception (pre-pandemic), Shopee University has trained over 200,000 micro-businesses in Malaysia. Its curriculum spans across multiple tiers—from basic onboarding (“how to set up a shop online”) to advanced topics like digital marketing, data analytics, and cross-border commerce. “Everyone can participate. Shopee University is open to all and completely free. It’s our way of ensuring no business is left behind,” says Terence. The impact of this initiative is tangible: Bella Hazaha, a Shopee Live seller, scaled her modest sleepwear business to selling over 1,000 units a day, using digital storytelling and live commerce. Batik Cantik, a rural Terengganu-based brand, scaled from one order a day to over 100 daily, gaining nationwide visibility through Shopee’s seller tools. The Digital Dividend: Enabling Revenue Growth and Reach How much can MSMEs grow once they plug into the Shopee ecosystem? While figures vary by industry and product category, Terence cites standout examples like Khairul Aming, a content creator turned entrepreneur who built the wildly popular Sambal Nyet brand on Shopee. In April 2023, a Shopee Live session sold 13,000 bottles of Sambal Nyet in just 2 minutes, generating over RM628,000 in gross sales. Such exponential growth is enabled by Sea Limited’s commitment to end-to-end digital enablement—from infrastructure to last-mile delivery. Shopee offers not just a marketplace but also: AI-powered recommendations Live video selling tools Payment and financing solutions Real-time analytics and logistics support “Shopee doesn’t just onboard businesses—it equips them with the tools to scale fast, manage risk, and expand regionally,” Terence affirms. Malaysia’s ASEAN Chairmanship: A Nation Ready to Lead In 2025, Malaysia will assume the ASEAN chairmanship—an opportunity to shape the regional digital economy agenda. According to Terence, the country is well-positioned to lead, thanks to three key indicators: Internet Penetration – Over 96% as of 2024, thanks to national broadband investments. E-Wallet Adoption – Over 20 million Malaysians use e-wallets regularly. GDP Contribution – The digital economy accounts for 22.6% of Malaysia’s GDP, highlighting its structural significance. With initiatives such as MyDIGITAL, the National AI Roadmap, and proactive regulatory bodies like MDEC and the National AI Office, Malaysia is already setting the pace. “We have the infrastructure, we have the policy support, and we have the talent. What’s needed now is deeper collaboration and inclusivity,” says Terence. Addressing Challenges: Infrastructure, Talent, and Trust Despite the optimism, Terence acknowledges three critical challenges: Economic Inclusion – Ensuring MSMEs across urban-rural lines can participate. Financial Inclusion – Serving the unbanked and underbanked segments. Cybersecurity – Building trust in digital ecosystems. To address these, Sea Limited is not only enhancing platform security through AI-driven fraud detection but is also participating in the Financial Education Network under Bank Negara Malaysia, offering nationwide workshops and roadshows to raise financial literacy. Strategic Partnerships with Government and Industry Collaboration is a recurring theme in Sea’s approach. Sea Limited works hand-in-hand with Malaysian ministries, agencies, and regulators to deliver targeted development programmes. Initiatives like #ShopeeSapotLokal, created in partnership with government agencies, have played a key role in highlighting and promoting local sellers and products. “For Malaysia to lead ASEAN’s digital shift, both public and private sectors must play their part. Government policy can pave the way, but industry players must build the infrastructure for real participation,” he explains. The Future: AI, Fintech, and Regional Expansion Looking ahead, Terence highlights three exciting trends Sea Limited is deeply invested in: AI & Automation – Improving customer experience, personalization, and productivity through AI. Social Commerce & Livestreaming – Moving from traditional e-commerce to interactive, video-driven sales. Cross-border Digital Trade – Enabling sellers in Malaysia to access buyers across ASEAN through seamless integration. Digital financial services are also central to Sea’s roadmap. From microloans and BNPL (Buy Now Pay Later) solutions to integrated cross-border payment systems, fintech remains a strategic pillar. “Fintech players and digital banks are key pillars of Southeast Asia’s economic future. Innovative credit, payment, and financing tools will be the arteries of the new digital economy.” Final Word: Digital Nation-Building Through Inclusion As Malaysia eyes regional leadership in ASEAN’s digital transformation, Sea Limited is playing a foundational role—not just as a service provider but as a digital nation-builder. The numbers are impressive. The stories are inspiring. But perhaps more importantly, Sea’s vision reflects a future where technology levels

The Executives

TH Plantations CEO Put on Leave Over RM5 Million Payouts; CFO Steps Down

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KUALA LUMPUR, TH Plantations Bhd has placed its Chief Executive Officer (CEO), Mohamed Zainurin Mohamed Zain, on garden leave following a show cause letter issued over alleged unauthorised payments totaling RM5.1 million made to plantation workers. In a filing with Bursa Malaysia, the company stated that the CEO’s leave is effective immediately and will remain in place until further notice. Simultaneously, the company’s Chief Financial Officer (CFO), Marliyana Omar, who also received a show cause letter on the same day, has resigned with immediate effect. In a separate filing, TH Plantations noted that Marliyana’s resignation was voluntary. Marliyana, 44, joined the group in 2009 as an assistant manager and rose through the ranks to head the finance division, where she was responsible for planning and managing the group’s financial operations. Despite these leadership changes, TH Plantations assured stakeholders that business operations will continue without disruption. In the interim, the Board Executive Committee will assume the responsibilities of the CEO.

The Executives

RHB Bank Sees Singapore Unit as Key to Regional Growth Plans

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SINGAPORE, RHB Singapore, a key subsidiary of Malaysia’s fourth-largest banking group, is set to play a central role in driving the group’s regional expansion and achieving key financial targets, including a return on equity (ROE) of 12% by 2027, a senior executive said on Friday. Singapore’s favourable tax environment, political stability, and status as a gateway to Southeast Asia continue to attract ultra-high-net-worth investors and financial institutions, reinforcing its position as a leading regional financial hub. RHB group managing director and CEO Datuk Mohd Rashid Mohamad To further strengthen its presence, RHB Singapore appointed Goh Ken-Yi as CEO earlier this year, with a focus on enhancing digital capabilities and delivering innovative financial solutions. RHB Singapore recorded strong financial performance in 2023, with pretax profit surging 95.6% year-on-year to S$98.7 million (US$76.82 million). “RHB Singapore’s outstanding performance reflects the forward momentum we aim to replicate across all our key markets,” said RHB Group Managing Director Datuk Mohd Rashid Mohamad during a press briefing. Beyond Singapore, RHB maintains a regional presence with operations in Cambodia, Thailand, Laos, and Brunei. According to its 2024 Annual Report, the Group achieved an ROE of 10.04% in 2023. It now targets reducing its cost-to-income ratio to below 44.8% and its gross impaired loans ratio to under 1.3% by 2027—improving from last year’s 46.7% and 1.47%, respectively.

The Executives

Izzana Salleh to Succeed as CPOPC Secretary General with Dr Musdhalifah Machmud as Deputy from June 2025

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The Council of Palm Oil Producing Countries (CPOPC) has announced the appointment of Izzana Salleh as its next Secretary General, with Dr Musdhalifah Machmud named Deputy Secretary General. Their three-year terms will commence in June 2025 and run until May 2028. The leadership transition was unveiled during a press conference at the CPOPC Secretariat in Jakarta, signalling a new chapter as the organisation accelerates its global advocacy for sustainability, equity, and collaboration within the palm oil sector. Speaking virtually from Kuala Lumpur, Izzana expressed her commitment to strengthening regional cooperation, aligning sustainability standards, and elevating the role of smallholders in global value chains. “I’m honoured to lead CPOPC at a time when the voices of producing countries must be stronger than ever,” she said. “We will ensure palm oil, as responsibly and sustainably produced by our member countries, is recognised globally as a force for good, while supporting livelihoods, food and energy security, and climate action.” Izzana brings a wealth of experience in policy and international engagement. A graduate of Harvard University, she is a trustee of the Malaysian Palm Oil Council, founder of RISE Human Capital, and co-founder of the global mentorship network Girls for Girls. Her appointment follows the tenure of Dr Rizal Affandi Lukman, who, alongside Deputy Secretary General Datuk Nageeb Wahab, played a critical role in expanding CPOPC’s international presence. Their leadership was instrumental in navigating complex negotiations with the European Union, redefining strategic priorities, and promoting sustainable practices while defending the rights of smallholders. “This is not the end, but a continuation,” Dr Rizal said. “I’m confident that with the leadership of Izzana and Musdhalifah, CPOPC will move forward with renewed energy to meet the challenges and opportunities ahead.” Established in 2015 by Indonesia and Malaysia, CPOPC has grown to include Honduras and Papua New Guinea as full members. Observer countries include Colombia, Ghana, Nigeria, and the Democratic Republic of the Congo. Collectively, these nations account for nearly 89 per cent of global palm oil production, positioning the council as a key player in shaping international policy and sustainability frameworks. -Bernama

The Executives

Infobip on Building Seamless Omnichannel Experiences Across Asia

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Despite Asia’s fragmented digital landscape and varying levels of technological maturity, one truth remains constant: consumers expect meaningful, seamless, and personalised communication from brands. As businesses strive to meet these rising expectations, Infobip, a global cloud communications platform—has emerged as a strategic enabler. In an email interview with The Exchange Asia, Harsha Solanki, VP General Manager Asia (India, APAC & Eurasia) at Infobip, sheds light on the region’s challenges and how the company is helping brands unify customer experiences through omnichannel engagement and AI-powered transformation. The Omnichannel Gap in Asia “Customers are expecting brands to have conversations with them digitally, on various channels, and avoiding call centres as much as possible,” says Solanki. While many businesses understand this shift, most struggle to implement it effectively. On average, brands use about six channels—ranging from SMS and WhatsApp to live chat and social media—but only 33% have these channels strategically integrated. The core issue lies in disjointed systems and siloed data. “Only 36% of brands have fully integrated software and tools,” she reveals. Without unified infrastructure, businesses are unable to deliver consistent and high-quality customer experiences—ultimately affecting loyalty and operational efficiency. A successful omnichannel strategy requires more than just channel presence; it needs a solid foundation. Tools like journey builders and customer data platforms are essential to capturing insights across touchpoints and delivering personalised journeys. Legacy systems remain one of the largest obstacles in Asia, especially in developing markets. However, Infobip addresses this head-on with a cloud-first, API-driven approach. “Infobip provides cloud-based solutions that integrate with legacy systems without requiring a complete overhaul,” explains Solanki. Through its Communications Platform as a Service (CPaaS) model, the company empowers brands to modernise gradually—layering AI-powered automation and cloud-based contact centres on top of existing workflows. From Super App Integration to Human-AI Harmony Asia’s digital economy is heavily influenced by super apps like WeChat, Grab and Gojek. Instead of viewing them as competition, Infobip sees these platforms as partners. “We help businesses integrate with super apps like WhatsApp, enabling conversational commerce and support directly within those ecosystems,” says Solanki. But as AI adoption accelerates, so does the challenge of balancing automation with empathy. While AI drives speed and efficiency, human judgement still plays a vital role—especially in emotionally nuanced interactions. “At Infobip, we never lose sight of what truly matters: human connection,” she adds. “The future of CX isn’t human versus machine—it’s human plus machine.” To support this hybrid future, Infobip has launched its AI Hub and partnered with Microsoft to embed generative AI across its suite of customer engagement tools. The AI Hub allows brands to build conversational journeys for support, sales, and marketing—integrating with platforms like Salesforce and HubSpot. An example of this in action is digital insurer LAQO, which used Infobip’s GPT-enabled chatbot to provide round-the-clock support. This not only ensured faster, personalised responses but also allowed human agents to focus on complex queries. Despite AI’s rapid progress, Solanki insists humans will remain central to customer experience. “Even the most advanced AI still needs human oversight. AI handles repetitive tasks and surfaces insights, while humans bring empathy and creativity. Together, they build stronger relationships.” One mistake many companies make is deploying AI without a clear strategy. “Many brands struggle with fragmented channels, disjointed data, and poorly executed use cases,” she warns. Infobip takes a consultative approach—guiding clients through every stage of implementation, offering pre-built tools and robust APIs to ensure integration is seamless and scalable. Operating across vastly different markets—from China’s closed ecosystem to WhatsApp-reliant Southeast Asia—Infobip leans on local knowledge to tailor its solutions. “Channel popularity varies greatly. It’s critical to work with a platform provider who understands local preferences,” says Solanki. Whether it’s Viber in the Philippines or RCS in India, Infobip helps businesses identify the best-fit channels through a combination of global insight and local expertise. Proving ROI in a Price-Sensitive Region With Asia’s reputation for cost-consciousness, Infobip places strong emphasis on proving tangible returns. “We don’t just provide tools—we help businesses use them in ways that increase efficiency, reduce manual work, and ultimately lead to higher satisfaction and loyalty,” Solanki notes. This focus on long-term value helps businesses look beyond initial costs to the measurable benefits of higher conversions, better retention, and lower support expenses. Building Trust in a Tighter Regulatory Climate As data privacy regulations tighten across Asia, Infobip ensures compliance without sacrificing personalisation. “We prioritise data security and operate within strict regulatory frameworks while enabling businesses to deliver relevant and secure customer experiences,” says Solanki. With global infrastructure, enterprise-grade encryption, and local data hosting, Infobip balances privacy with performance. In Asia’s rapidly evolving digital landscape, customer engagement is no longer a choice—it’s a differentiator. Infobip’s ability to integrate legacy systems, unify communication channels, and humanise AI makes it a key partner for businesses aiming to create seamless and meaningful customer journeys across the region. As Solanki puts it, “With the right blend of intelligent automation and authentic human care, we can deliver experiences that are both efficient and deeply meaningful.”

ESG, The Executives

Deden: World’s First Geothermal Coffee Pioneer from Kamojang, Indonesia

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JAKARTA: Located along the Pacific Ring of Fire, Indonesia holds immense geothermal potential, accounting for around 40% of the world’s total geothermal reserves. Kamojang stands as a key milestone in the country’s geothermal history. Since its initial exploration in 1926, Kamojang has not only consistently supplied clean energy but also made history as the birthplace of the world’s first coffee innovation processed using geothermal steam. is the pioneer behind this innovation. Since 2023, Deden, together with local entrepreneurs, has been harnessing the natural wealth of his hometown with support from PT Pertamina Geothermal Energy Tbk (PGE) (IDX: PGEO), which has operated in Kamojang since 1983. The Beginning of His Coffee Business Before inventing the geothermal coffee innovation, Deden had been running a coffee business since 2015, including managing his own coffee shop. He is also active as the Head of Karang Taruna (Youth Organization) in Ibun District, Bandung, making his café a popular gathering place for locals and PGE employees to relax and share stories. Since then, Deden began to establish a good relationship with the employees of PGE Kamojang Area. This closeness developed through casual conversations often filled with discussions about coffee, from the production process to the potential for developing local coffee. After building a good relationship with employees of PGE Kamojang Area, Deden often engaged in casual conversations about coffee. These discussions eventually evolved into a concrete idea when PGE expressed interest in starting a coffee development program, which Deden enthusiastically welcomed. “At that time, I considered the idea to be a challenge. I saw geothermal potential as an opportunity to provide solutions to various problems faced by conventional coffee producers,” he explained. From Concept to Cup: Geothermal Coffee is Born Together with PGE, Deden conducted intensive research to identify the fermentation techniques best suited to the geothermal characteristics used in coffee processing. “I conducted fermentation research for almost a year. From more than 20 processes we tried, we finally found three that best fit the characteristics of the drying process,” he said. Following the research, Deden began producing coffee using Arabica beans grown in the highlands of Kamojang, at an altitude of around 1,500 meters above sea level. He then empowered local coffee entrepreneurs to build a more efficient business ecosystem through the use of ‘Geothermal Dry House’ technology, which utilizes geothermal steam trap from PGE as a substitute for sunlight, enabling a more stable, hygienic, and high-quality drying process. From a business perspective, this technology excels by accelerating the drying time up to threefold, resulting in up to 300% efficiency. This means lower operational costs and increased production capacity without additional time or expenses. “This technology also minimizes the risk of bacterial contamination from outside sources. That way, the bacteria that affect the process only come from the fermentation before drying. In terms of taste, the end result is more fruity, with a stronger aroma, and a smoother texture compared to coffee processed conventionally,” he explained. Now, Deden manages Geothermal Coffee Process (GCP) as Managing Director, where he collaborates with PGE to empower coffee farmers in Kamojang. GCP processes post-harvest coffee beans into green beans, partnering with over 80 farmers and absorbing 20 tons of coffee last season. Moving forward, Deden aims to develop GCP into an integrated business that delivers a broader social and economic impact for the community. Taking Indonesian Innovation Global In the first year of its launch, Deden mentioned that there were parties from abroad interested in replicating this system. “We felt it was important to patent it immediately. Rather than having this concept adopted by external parties first, it’s better for us to develop it domestically. We want the Indonesian people, especially in coffee-producing areas close to geothermal sources, to be the first to implement a similar concept,” Deden hoped. This is what fueled Deden’s spirit to introduce geothermal coffee as an original Indonesian innovation to the global stage. His efforts paid off, as GCP succeeded in penetrating international markets by starting to export its products to Japan. This year, they even aim to expand exports to Europe. “From the beginning, my friends at PGE Kamojang have always believed in me and encouraged me to keep trying new things. This collaboration is not just about inventing the world’s first geothermal coffee, but also about opening doors for us, local entrepreneurs, to grow, learn, and dream bigger. We are increasingly experiencing the benefits of geothermal energy, not just as a source of electricity in our homes, but also as a door that opens up opportunities for a better life,” he concluded. With a background as a vocational high school graduate in pharmacy, Deden is now exploring the opportunity to pursue a bachelor’s degree through a scholarship program from PGE. He has chosen to major in business management, aiming to realize his dream of building a sustainable enterprise, which he sees as his true challenge.

Han-Tiong Law, Regional CTO for ASEAN and Greater China at Rimini Street
The Executives

Rimini Street: CFO–CIO Synergy—Unlocking Greater ROI from IT and Enterprise Investments

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In an increasingly digital and cost-conscious environment, the alliance between Chief Financial Officers (CFOs) and Chief Information Officers (CIOs) is no longer a luxury—it is a strategic imperative. According to Han-Tiong Law, Regional CTO for ASEAN and Greater China at Rimini Street, this growing synergy is shaping the future of enterprise investment strategies, driving smarter IT decisions and enhancing long-term business resilience. The Rise of the CFO–CIO Partnership The digital economy demands that technology not only supports operations but propels growth. In this landscape, CFOs and CIOs are aligning more closely than ever before. A Rimini Street 2024 global survey revealed that 86% of CFOs and CIOs say their relationship has strengthened, with CFOs playing a more influential role in IT decision-making. This mirrors findings from Deloitte’s 2023 Global CIO Survey, which highlighted that increased collaboration between CIOs and other C-suite executives is among the top three enablers of digital transformation (Deloitte, 2023). Han-Tiong attributes this trend to increasing scrutiny on IT spend, the rising complexity of digital ecosystems, and the growing need to demonstrate measurable returns. “By working together,” he explains, “CFOs and CIOs can ensure that technology initiatives not only meet budgetary targets but also deliver outcomes that drive enterprise value.” Case Studies: Where Finance Meets IT Innovation Han-Tiong points to clients like Malaysia’s Sunway Group, which shifted to Rimini Street’s third-party support model and reallocated savings from software maintenance into AI development initiatives. According to the Rimini Street survey, 49% of CFOs reported that closer partnerships with CIOs led to improved business results. These findings reflect a broader shift in enterprise strategy. A Gartner report noted that CIOs are increasingly expected to act as business leaders, not just technology stewards, and to drive cost optimisation and revenue growth simultaneously (Gartner, 2023). What’s Driving CFOs to Take the Lead on IT? Rimini Street’s survey also found that 66% of CFOs feel directly responsible for setting their organisation’s technology investment budgets. This marks a notable shift in internal dynamics. A McKinsey & Company report from 2023 observed that CFOs are becoming central figures in technology decision-making by leveraging real-time analytics and performance measurement tools (McKinsey, 2023). “CFOs are increasingly using financial data to track ROI and ensure IT projects contribute directly to strategic business goals,” says Han-Tiong. This includes cost predictability, scalability, and alignment with long-term transformation agendas. Rimini Street’s Value Proposition: Innovation Through Efficiency Rimini Street offers third-party enterprise software support for platforms such as Oracle, SAP, VMware, and Workday. The model enables clients to reduce software maintenance costs by up to 90%, according to internal customer data, and avoid vendor lock-in or forced upgrades. This in turn frees up capital for innovation. But Rimini Street’s model goes beyond basic cost reduction. “Our support includes custom code support, performance tuning, root cause analysis, and proactive security guidance,” Han-Tiong explains. This holistic model aligns with trends noted in Forrester’s 2024 IT Spending Outlook, which highlighted a sharp increase in companies moving away from traditional vendor support to regain control over IT budgets (Forrester, 2024). Unlocking the Value of AI and Data Artificial intelligence and real-time analytics are now central to digital competitiveness. Yet many companies aren’t ready for large-scale AI deployment. Rimini Street’s survey shows that 94% of CIOs believe their data still requires significant cleanup and restructuring before it can support AI effectively. This aligns with findings from PwC’s 2024 AI Business Survey, which revealed that while 73% of executives plan to implement AI at scale, only 27% feel their data infrastructure is AI-ready (PwC, 2024). Han-Tiong advises companies to prioritise data orchestration and focus on use cases that yield measurable outcomes, such as process automation, enhanced customer service, and smarter decision-making. “Without a strong data foundation, AI initiatives are likely to stall or underperform,” he cautions. Managing the Complexities of Application Outsourcing Application outsourcing remains a challenging proposition, especially for companies with deeply customised ERP environments. “A common concern is the risk of knowledge loss and disruptions during transition,” Han-Tiong explains. Rimini Street addresses this by offering dedicated support engineers and a proactive service model focused on long-term system health. Their approach includes patented monitoring and alerting tools designed to reduce downtime and eliminate unnecessary upgrades—capabilities cited in IDC’s 2023 research on third-party support as key to improving IT resilience (IDC, 2023). Transitioning to Third-Party Support: What to Consider For organisations considering alternatives to traditional vendor support, Han-Tiong recommends evaluating three main criteria: Proven Expertise: Select a provider with extensive experience in your ERP ecosystem. Cost Transparency: Fixed, predictable pricing models help manage long-term budgets. Innovation Alignment: Ensure the provider can support strategic objectives, not just legacy maintenance. As digital transformation accelerates across Asia, companies are recognising the need for greater flexibility and smarter spending. Rimini Street’s model offers a path toward both, enabling CIOs and CFOs to invest in tomorrow while managing the realities of today. Collaboration is the New Currency Han-Tiong Law believes that in today’s enterprise environment, collaboration—not just technology—is the real differentiator. “With tighter budgets and increasing complexity, every dollar and decision counts. That’s why CFO–CIO collaboration isn’t just important—it’s essential.” The message is clear: by breaking down silos and jointly leading the technology agenda, CFOs and CIOs can drive better ROI, reduce risk, and prepare the enterprise for a digital-first future.

The Executives

Pertama Digital Charts Bold Course Toward a Digitally Empowered Malaysia

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As Malaysia navigates its digital transformation journey, Pertama Digital Berhad (PDB) stands out as one of the key players shaping the nation’s future. Leading this charge is  Lim Nasrul Halim, the Group Chief Executive Officer (Designate), who envisions a future where technology bridges the gap between government and citizens in meaningful, accessible ways. “We’re building a future where every interaction between the government and its citizens is digitised, intuitive, and impactful,” says Lim. “Our vision for 2025 is to establish Pertama Digital as Malaysia’s leading force in digital transformation—where technology is not only accessible but meaningful, secure, and designed around the needs of the rakyat.” This vision is already taking form through a series of targeted digital solutions. PDB is focusing on practical applications such as AI-powered identity platforms, cybersecurity tools for public infrastructure, and real-time communication services between citizens and the government. Flagship initiatives like KOCEK and BizKecil are prime examples of this mission-driven approach. KOCEK and BizKecil: Addressing the Grassroots KOCEK is a digital savings application that promotes financial literacy among schoolchildren, especially in underserved communities. “Our approach is not to impose a savings habit, but to nurture it gently—through small, manageable steps that honour the family’s circumstances,”  Lim explains. Collaborations with the PINTAR Foundation and local banks help ensure both accessibility and trust. BizKecil, on the other hand, supports Malaysia’s micro and small traders. These are individuals often left behind by formal financial systems. “BizKecil is not just an app. It’s a ‘Zero to Hero’ ecosystem designed to guide them from their very first digital step,” says Lim. The platform simplifies bookkeeping, financial tracking, and even loan applications, developed in partnership with grassroots organisations like GPPPKMM and local banks. Strategic Growth through Acquisitions As part of its regularisation plan, PDB recently requested an Extension of Time from Bursa Malaysia. The next 12 months will be critical. The company is prioritising acquisitions that expand its capabilities and generate new revenue streams. Among the targets are D-Ron Singapore and D-Ron Malaysia, which specialise in surveillance and smart city technologies, with a targeted completion by Q4 2025. A proposed acquisition of Kridentia Tech, known for biometric verification solutions, is also in progress. “These are not just acquisitions. They’re strategic enablers,” says Lim. “Kridentia will strengthen our digital identity solutions, while D-Ron brings in critical capabilities in smart surveillance.” To further enhance these efforts, PDB has partnered with Ruya AI, a global artificial intelligence company. Together, they are co-developing applications for AI-driven KYC, real-time background screening, and even carbon accounting. “Ruya’s expertise in data science and real-time analytics will significantly enhance the platforms being developed through Kridentia and D-Ron,” Lim notes. Fueling Expansion with Capital PDB is raising RM150 million via MyPay Capital to support its acquisition and expansion strategy. A large portion of this capital will go toward completing the acquisition of D-Ron, while the rest will be used for operational scaling, platform enhancement, and working capital. “Our transformation plan is focused on building recurring and sustainable revenue streams,” Lim says. “We are accelerating the acquisition of D-Ron, aiming for completion by the second quarter of 2025.” Maintaining Investor Confidence Despite the complexity of the current landscape, PDB is maintaining investor confidence through a clear, transparent approach. The group remains focused on solving real-world problems in public safety, financial inclusion, and SME development. “Our products are not speculative. They address tangible pain points across government, education, and SME sectors,” explains Lim. “We operate on a performance-based model. We grow when we deliver impact.” Regular updates, consistent communication, and a strong focus on execution have helped PDB sustain stakeholder trust. For Lim, it’s about long-term value rather than short-term hype. “At Pertama Digital, our mission is to build a Malaysia that is not just digital—but digitally empowered,” he says. With its strategic partnerships, targeted solutions, and people-first approach, Pertama Digital is positioning itself as a key driver of the country’s digital future.

Cheong Jin Xi, Chief Executive Officer of Aonic
The Executives

Aonic Makes Automation Accessible Across Southeast Asia

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Founded as Poladrone in 2017, Aonic’s initial vision was clear: leverage drone technology to modernize agriculture. The company, founded by Cheong Jin Xi, Chief Executive Officer of Aonic, designed agricultural drones to automate tasks like spraying and monitoring, helping farmers improve yields while reducing dependency on labour, a pressing need especially in Southeast Asia where agriculture accounts for over 25% of total employment (World Bank). However, as Aonic delved deeper into the field, it became evident that the need for automation extended well beyond farming. “We realized early on that sectors like construction, security, and industrial services faced similar challenges — labour shortages, inefficiencies, and rising operational costs,” says Cheong. Today, Aonic operates across six verticals: agriculture, industrial, lifestyle, retail, services, and academy. Its transformation from a drone company into an end-to-end automation provider was cemented with milestones such as becoming a DJI Enterprise Platinum Dealer and the official distributor of CHCNAV Machine Control Solutions in Malaysia. Through partnerships with global tech leaders, Aonic now delivers AI-powered drones, precision automation for construction sites, and comprehensive support services that allow businesses to future-proof their operations. Tackling the Cost Barrier Head-On   One of the greatest barriers to technology adoption in Southeast Asia is the high upfront cost. Research by PwC indicates that over 65% of SMEs in the region cite cost as the primary obstacle to adopting automation and AI solutions (PwC). Aonic addressed this challenge by launching Aonic Flex in 2022, Malaysia’s first agricultural drone easy payment program. “We wanted to make it possible for even smallholder farmers to access cutting-edge technology,” says Cheong. Since its inception, Aonic Flex has disbursed more than RM20 million in financing, enabling businesses across agriculture, logistics, construction, and security sectors to integrate automation without facing a crippling financial burden. Encouraged by the program’s success, Aonic is now expanding Flex financing beyond drones to support full-scale industrial automation. “Flexible financing will be a key enabler in accelerating the adoption of automation,” Cheong emphasises. “Without it, transformation remains out of reach for most businesses.” Revolutionising Industries with Smart Automation   Aonic’s technology portfolio is empowering industries to transition from traditional, manual workflows to AI-powered operations. In construction, CHCNAV’s Machine Control Solutions automate site levelling, road construction, and earthworks with real-time AI and high-precision GNSS technology, significantly reducing human error and project timelines. A McKinsey study notes that AI-driven machine control can reduce construction project costs by up to 15% and cut project duration by up to 30% (McKinsey). In agriculture, the DJI Matrice 4 Series offers farmers intelligent mapping, crop health monitoring, and precision spraying, enhancing yields while reducing fertiliser and pesticide use. These advancements not only improve profitability but also promote sustainability. Meanwhile, sectors like energy and security are leveraging Aonic’s drones for real-time asset monitoring, thermal inspections, and intelligent surveillance. These capabilities are reshaping how companies manage large, remote assets by reducing risks, improving data accuracy, and enabling faster response times. “We are not just providing products,” says Cheong. “We are offering a new way of working, one that is smarter, faster, and safer.” Bridging the Skills Gap   However, technology alone is not enough. Southeast Asia faces a significant skills gap, with many workers and businesses unfamiliar with operating advanced automation systems. A recent report by the Asian Development Bank found that almost 40% of SMEs lack the technical expertise needed to integrate new technologies (ADB). Aonic addresses this issue through end-to-end support, including hands-on training via Drone Academy Asia, deployment assistance, and comprehensive after-sales service. Their growing network of Aonic Service Centres across Malaysia and Thailand ensures businesses have access to the local expertise needed for successful adoption. “We recognise that adoption is not just about the sale, but about training, education, and support,” explains Cheong. “Our goal is to make automation seamless.” Scaling Across Southeast Asia   Aonic is actively strengthening its presence in Malaysia and Thailand and has set its sights on further regional expansion. The company’s strategy focuses on industries ready to scale their automation capabilities quickly, particularly agriculture, construction, and logistics. As Southeast Asia’s digital economy is projected to reach USD 330 billion by 2025 (Temasek), businesses are under increasing pressure to modernise operations. Aonic’s holistic ecosystem — combining accessible financing, local service networks, and cutting-edge AI-powered solutions — positions it as a formidable player in this evolving landscape. “Accessibility and integration will determine who succeeds in driving regional automation,” says Cheong. “We are committed to being the partner businesses can rely on.”  A Fully Integrated Automation Ecosystem   Looking ahead, Aonic plans to further invest in expanding its industrial automation solutions, enhance its financing models, and broaden its service centre footprint across Southeast Asia. New innovations, such as deeper AI integration into machine control and drone systems, are also on the horizon. Most notably, Aonic aims to evolve into a full-scale industrial automation ecosystem provider, offering solutions that range from aerial intelligence to ground-based machine control, powered by data-driven insights and AI. “We’re building more than a company; we’re building an ecosystem that empowers industries to embrace a smarter future,” Cheong concludes. As industries across Southeast Asia race toward automation, Aonic’s approach, grounded in innovation, accessibility, and real-world application, marks it as a company to watch in the region’s technology transformation journey.  

ESG, The Executives

The ESG Blind Spot That Could Cost Malaysian SMEs Their Edge

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In an exclusive interview with Dr. Vimi, a leading expert in data analytics and market intelligence, we explored the evolving landscape of Environmental, Social, and Governance (ESG) practices among Malaysian SMEs and how they compare to their regional counterparts. Dr. Vimi Ramasamy, the Chief Executive Officer & Founder of STRAVIK, Adjunct Professor, and TalentCorp Fellow, shares insights on the challenges and opportunities for SMEs in Malaysia. She offers a roadmap for businesses to effectively integrate ESG principles, ensuring competitiveness in a global market increasingly focused on sustainability The State of ESG Preparedness in Malaysia According to Dr. Vimi, Malaysian SMEs’ adoption of ESG practices is largely influenced by their engagement with multinational corporations (MNCs). “SMEs that are part of MNC supply chains are generally more attuned to ESG practices due to the stringent requirements set by these corporations,” she explains. However, SMEs not directly connected to MNCs often lack the same urgency in adopting ESG principles, despite government incentives and awareness campaigns. Recent reports highlight a significant increase in ESG awareness among Malaysian SMEs, with figures rising from just 14% in 2022 to 80% in 2024. However, as Dr. Vimi points out, the gap between awareness and implementation remains substantial. “Only 38% of SMEs that have adopted sustainability practices report substantial revenue gains,” indicating that while awareness is growing, effective execution of ESG practices remains a challenge. Regionally, Malaysia is making strides in ESG adoption, but Dr. Vimi notes that countries like Singapore and Thailand have set a higher bar. “These countries have stricter sustainability standards, putting pressure on Malaysian SMEs to improve their ESG practices in order to stay competitive on the global stage,” she states. Sectoral Disparities in ESG Adoption Dr. Vimi identifies the Electrical and Electronics (E&E) and manufacturing sectors as the frontrunners in ESG adoption within Malaysia, primarily due to their integration into global supply chains that demand strict sustainability standards. According to the 2025 Alliance Bank Malaysia ESG Report, 60% of manufacturing SMEs have embraced ESG practices, a notable increase from previous years. In contrast, sectors such as services, construction, and agriculture lag behind, with adoption rates ranging from 37% to 41%. The Malaysian government is actively addressing these disparities with initiatives such as the National Industry Environmental, Social, and Governance (i-ESG) Framework, designed to assist sectors with lower ESG uptake. Dr. Vimi also highlights the allocation of RM300 million under the National Energy Transition Roadmap in Budget 2025, further emphasizing the government’s commitment to fostering ESG practices across all industries. The Role of Digital Transformation and Data Analytics As digital transformation becomes integral to business operations, Dr. Vimi emphasizes its role in enabling SMEs to integrate ESG principles effectively. “Digital transformation helps businesses optimize across the four domains—people, policy, process, and technology—creating a holistic approach to sustainability,” she explains. By leveraging digital tools and data analytics, SMEs can streamline operations, ensure compliance with ESG standards, and make better-informed decisions. This transformation also enables upskilling employees and improving workforce efficiency, creating a more sustainable and productive work culture. Overcoming Challenges in ESG Compliance One of the most significant challenges preventing Malaysian SMEs from embracing ESG compliance, according to Dr. Vimi, is the lack of understanding of what ESG truly entails. “Many businesses mistakenly believe that ESG compliance requires substantial financial investment and complex reporting processes,” she says. In reality, ESG is about aligning business practices with sustainability, optimizing operations, and ensuring long-term, incremental growth. “Unlike other forms of compliance, ESG is more about personal responsibility and continuous improvement,” Dr. Vimi adds. Cost-Effective ESG Implementation While concerns about the costs of sustainability are common among SMEs, Dr. Vimi argues that ESG strategies can lead to long-term savings and enhanced business performance. “By optimizing operations through ESG principles, businesses can reduce inefficiencies, lower energy consumption, and improve resource utilization, all of which contribute to cost reductions,” she states. She also encourages SMEs to start small by addressing the most material issues identified through a materiality assessment. “Several government grants and incentives are available to support SMEs in their ESG journey, including the Green Technology Financing Scheme (GTFS) and the Low Carbon Transition Facility (LCTF), which provide financial support for sustainability-focused projects,” Dr. Vimi notes. ESG as a Business Opportunity, Not a Burden A common misconception among SMEs is that ESG is a compliance burden. However, Dr. Vimi sees ESG as a strategic business opportunity. “Adopting ESG practices can directly attract investors, open doors to new growth opportunities, and enhance brand reputation,” she asserts. By viewing ESG as a growth strategy rather than a regulatory obligation, SMEs can tap into a growing market that increasingly values sustainability. Regional Policy Insights and Recommendations Drawing on her extensive experience in global markets, Dr. Vimi suggests several regional policies that could benefit Malaysia’s SME sector. For example, she advocates for a national sustainability certification system similar to Thailand’s Green Industry Standard (GIS), which incentivizes businesses to adopt green practices. She also proposes the creation of a one-stop platform for SMEs to access all ESG-related grants, tax incentives, and financial support, akin to the European Union’s Green Deal. Preparing for the Future: ESG Beyond 2050 Looking ahead to 2050, Dr. Vimi highlights the need for SMEs to make ESG a core component of their business strategy. “SMEs must integrate ESG into every aspect of their operations, from supply chains to energy efficiency, to remain competitive in an increasingly ESG-driven global market,” she advises. She also stresses the importance of investing in people and technology to ensure continuous improvement and long-term sustainability. Dr. Vimi concludes with a powerful message for Malaysian SMEs: “ESG is not just a responsibility; it’s a commitment to future generations. By taking purposeful, deliberate steps now, SMEs can shape a sustainable future and thrive in an increasingly sustainability-focused world.” In conclusion, while the road to comprehensive ESG adoption in Malaysia may still be challenging, it presents significant opportunities for SMEs that embrace sustainability. With government support, digital transformation, and a shift in mindset, Malaysian SMEs can position themselves

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