The Executives

In a recent interview with The Exchange Asia, Damien Gough, Head of Asia Pacific at Thredd, highlighted the challenges fintech companies face in staying compliant across APAC’s diverse regulatory landscape. The region’s financial regulations are evolving rapidly, yet unlike the European Economic Area’s (EEA) “Passporting” arrangement, APAC lacks a unified framework. This forces fintechs to adapt to varying financial laws, data privacy regulations, and Know Your Customer (KYC) requirements in each market. One of the biggest hurdles fintech companies face is compliance with anti-money laundering (AML) and fraud prevention measures. Authorities in markets like Singapore have ramped up enforcement, issuing hefty fines for non-compliance. Cross-border payments also add complexity, as many fintechs still rely on outdated infrastructure while navigating country-specific regulations. Despite the rise of real-time payment systems, the industry continues to grapple with inefficiencies, making compliance a moving target. “Fintechs need to adopt newer technologies and regulatory tools that ensure compliance while delivering efficient services across jurisdictions,” says Gough. Recognising these challenges, Thredd has developed a suite of compliance and risk tools designed to support fintechs in meeting regulatory requirements efficiently. The platform incorporates fraud and scam transaction monitoring powered by AI, helping businesses detect suspicious activities in real-time while minimising reputational risks. Automation tools further simplify compliance tasks, reducing the need for excessive manual oversight. Additionally, Thredd streamlines dispute and chargeback management, ensuring fintechs remain compliant while operating seamlessly across different jurisdictions. For fintechs expanding in APAC, flexibility and adaptability are essential. “Partnering with companies like Thredd, which provide next-gen compliance tools, allows fintechs to automate compliance tasks and stay ahead of regulatory changes,” Gough explains. Establishing strong relationships with regulators and industry stakeholders is equally crucial. Thredd’s existing connections with local BIN Sponsors in key APAC markets help fintechs partner with licensed issuers, reducing market entry timelines by over a year in some cases. Cloud-based platforms and modular microservices tailored to local regulations further facilitate market integration, allowing fintechs to scale efficiently. While regulation can be perceived as a hurdle, it also presents an opportunity. “Regulation can be both a hurdle and an opportunity,” Gough notes. “Fintechs that embrace regulation early on can avoid the pitfalls of global scandals like FTX and Wirecard, where lack of oversight led to significant losses and reputational damage. Compliance-first fintechs position themselves as trustworthy partners, enhancing customer retention and growth.” A strong compliance framework builds trust among customers, regulators, and partners, positioning fintechs for long-term success. Regulators across APAC are increasingly embracing AI and automation as critical tools for fraud prevention and compliance. Markets like Singapore and Hong Kong recognise AI’s potential to enhance transaction monitoring, a key aspect of AML and KYC compliance. However, authorities also stress the importance of transparency in AI decision-making to prevent bias and ensure accountability. “Regulators in markets like Singapore and Hong Kong view AI as a valuable compliance tool, but they also stress the need for transparency in decision-making to mitigate bias and prevent ‘black-box’ models that are difficult to audit,” says Gough. The rise in financial fraud and scams has led to new regulatory measures, including Singapore’s Shared Responsibility Framework (SRF) and Australia’s Scams Prevention Framework Act 2025, which emphasise real-time monitoring and accountability. The tightening of regulations in APAC has been influenced by global financial scandals, prompting authorities to strengthen oversight. In response to cases like Wirecard and FTX, regulatory bodies in Singapore and Hong Kong have ramped up AML enforcement and introduced stricter digital asset frameworks to maintain financial stability. “In Singapore, enforcement actions against AML breaches have increased, and regulators in Hong Kong and Singapore are strengthening their frameworks for digital assets to ensure financial stability,” Gough highlights. Despite growing regulatory pressures, many fintech startups still make the mistake of neglecting compliance early on. Some underestimate the complexity of financial regulations, leading to costly penalties and operational setbacks. “Investing in robust compliance tools and legal expertise early on can help fintechs avoid these pitfalls,” Gough advises. Additionally, failing to update systems in line with evolving regulations can leave fintechs vulnerable to compliance risks. “Working with a trusted payments partner, like Thredd, ensures fintechs stay compliant with the latest standards and requirements.” Thredd plays a vital role in helping fintechs navigate these challenges by offering fraud monitoring, scam transaction detection, and 3D Secure solutions that simplify compliance across multiple jurisdictions. “Our solutions are integrated with our platform to ensure full compliance across multiple jurisdictions. We also offer scalable, cloud-based services tailored to local regulatory requirements, allowing fintechs to expand efficiently while remaining compliant,” Gough explains. APAC’s fintech industry has undergone a significant transformation over the past two decades, evolving from expanding banking access to driving innovation in payments, lending, insurance, and wealth management. The future of fintech in the region will revolve around digital assets, blockchain, and AI integration. “The future of fintech in APAC will revolve around digital assets, blockchain, and AI integration. These technologies will facilitate low-cost cross-border payments and real-time settlements as regulatory frameworks mature,” Gough predicts. For fintechs looking to scale while staying compliant, the key is to integrate regulatory adherence into business operations from day one. “My advice is simple: invest in the right technology and integrate compliance into your business from day one,” Gough emphasises. “Fintechs that establish scalable, compliant systems early on are the ones that succeed. Automated fraud detection, real-time monitoring, and regulatory reporting infrastructure will make regulatory navigation much smoother.” Embedding compliance into a company’s DNA not only ensures regulatory adherence but also strengthens its position in an increasingly competitive fintech landscape.

https://youtu.be/fboqCmardgYAs the ageing population grows, the need for purposeful senior living has never been greater. Diane Chia, Co-founder of L1vin and Executive Director of Millennia Village, is reshaping the narrative around ageing, moving beyond care to empowerment. At Millennia Village, she and her team are building more than a residence; they are fostering a vibrant community where seniors can thrive with independence, well-being, and a renewed sense of purpose.   Diane’s career began in real estate, a field traditionally dominated by men. Working as a real estate agent for 10 years in China, she quickly learned to navigate the industry’s fast-paced and high-stakes environment – simultaneously facing the challenge of proving herself in a fiercely competitive market.  “As a woman in real estate, especially in China, I had to work twice as hard to gain credibility,” Diane recalls. “The industry is tough, and you are constantly proving yourself. But I learned that success comes from knowledge, confidence, and persistence.”  Her years in real estate gave her a strong foundation in building communities, but it was her time in China that sparked a deeper awareness of health and wellness. Living in a country where air pollution was a constant concern, she became increasingly conscious of the importance of well-being. This personal awakening, further reinforced by the COVID-19 pandemic, led her to explore holistic health solutions, not just for herself, but for others.  Initially, Diane joined L1vin, a natural health and wellness product company who believe in nutrition as a preventive medicine, as an ambassador, drawn to the brand’s mission of promoting natural health solutions. Her passion for wellness and ability to connect with people made her a natural advocate. Seeing her dedication, L1vin’s co-founder proposed a partnership, recognising her potential to help expand the brand’s product line and reach.  “At L1vin, we don’t just sell products; we educate people about wellness,” Diane explains. “We work with nutritionists, doctors, and fitness experts to help people integrate health into their daily lives. That same philosophy applies to Millennia Village.”  By merging her expertise in real estate with her commitment to wellness, Diane has helped shape L1vin into more than just a product brand, it’s a movement centered around holistic living. Now, she brings that same vision to Millennia Village, creating a senior living experience that prioritises health, independence, and a strong sense of community.  A Vision Rooted in Legacy and Purpose   Millennia Village was born from a deeply personal vision, to transform an old idle quarry site in Seremban, Diane’s hometown, into a sanctuary for senior living. Once a bustling mining site, the land had remained unused for two decades. Instead of letting it go to waste, the founders of Millennia Village envisioned a senior living space where they themselves would want to reside.   “My dad and his friends often talked about where they’d like to live when they got older,” Diane shares. “They wanted a place where they could still be active, where they weren’t just waiting for time to pass. That’s what sparked this whole idea.”   This project was never just about building another retirement home, it was about creating a meaningful space where seniors could live life on their own terms. Recognising a gap in the industry, the team sought to go beyond care facilities by establishing a vibrant, empowering community.   Bridging the Gap in Senior Living   Unlike traditional senior care facilities, Millennia Village is designed for active, independent seniors rather than those requiring assisted care. This distinction sets them apart. While ensuring accessibility with wheelchair-friendly ramps, spacious corridors, and support bars in washrooms, the village is built for residents who want to maintain an active and engaging lifestyle.   “We want to change the narrative around senior living,” Diane emphasises. “It’s not just about ‘where do I go when I can’t live alone?’ It’s about ‘where can I go to truly live my best years?’”   Overcoming Challenges and Changing Mindsets   Building Millennia Village came with its fair share of challenges. Constructing on a former quarry site required extensive modifications, significantly increasing costs and logistical complexities. The COVID-19 pandemic further delayed the project, pushing its official launch to June 2024.   But the biggest challenge? Shifting public perception. Many still see senior living as a last resort rather than an opportunity for a fulfilling lifestyle.   “There’s a stigma around senior living communities,” Diane acknowledges. “People think of them as a place you go when you have no other choice. But we want to show that it can be a conscious, empowering decision, one that allows seniors to maintain their independence while having a supportive community around them.”   Balancing Compassion and Business in Senior Care   Running a senior living community requires more than just operational efficiency, it demands genuine compassion. Diane emphasises the importance of hiring the right people, those who not only have hospitality skills but also possess a deep empathy for the elderly.   “It’s almost like a calling,” she explains. “You need people who are patient, kind, and willing to listen. The elderly have lived full lives, and they deserve to be heard and respected.”   Beyond residents, this philosophy extends to staff as well, fostering a workplace culture that prioritises care and community.   A Future of Thriving Communities   As Millennia Village grows, Diane hopes to change the way people view ageing. She envisions a future where senior living is not just about care, but about connection, activity, and purpose.   “With an ageing population, we need to start thinking differently,” she says. “It’s not just about creating places for seniors to live, it’s about creating spaces where they can truly thrive.”   Millennia Village is more than just a residence; it’s a movement towards a new way of ageing, one that celebrates independence, well-being, and the joy of community. As the landscape of senior living evolves, Diane’s work is paving the way for a future where growing older is not about limitations but about new opportunities to live fully, with purpose and dignity.   Advice for the Next Generation of Entrepreneurs   When asked about

Some people are content with following the conventional career path, but not Stan Chooi. The co-founder of Sometime by Asian Designers felt something was missing in his life while working in the marketing and branding world. He wanted to create something bigger, something that had meaning. That ‘something’ turned into Sometime, a brand that has redefined designer bags in Asia.  Stan Chooi & Nicole Wong, Co- Founders of Sometime By Asian Designers.Source: Sometime A Leap of Faith  Stan didn’t come from a fashion design background. In fact, he knew nothing about making bags. What he did know, however, was branding and business. Over a casual conversation with his friend, now business partner and wife, Nicole Wong, an idea began to take shape. Nicole, at the time, was a product specialist who advised designers behind luxury brands in designing and producing their collections. With her expertise in product development and his strength in branding, they saw an opportunity. What if they could create high-quality designer bags that were not limited to the elite? What if they could offer designer craftsmanship at a fraction of the traditional cost?  Redefining Designer Bags  Stan was never interested in just another luxury brand. Instead, he wanted to prove that you don’t need a big logo or an inflated price tag to own a well-designed, high-quality bag. By handling their own production, Sometime cut out unnecessary markups, allowing them to focus purely on craftsmanship and affordability.  The result? A designer bag without the “luxury” markup, making it possible for fresh grads buying their first ‘grown-up’ bag or young professionals looking for a stylish yet practical accessory to indulge in high-end designs without guilt.  One of the things that makes Sometime so unique is its unwavering commitment to Asian designers. From day one, Stan and his team have sought out talented creatives to collaborate with, providing a platform where designers’ names are just as important as the brand itself.  They’ve worked with Malaysian icons like Sazzy Falak, Vivy Yusof, Rizalman, Alia Bastamam, and Kamwei Fong. They even partnered with internationally renowned designer Jason Wu, who has dressed celebrities like Jessica Alba, Meghan Markle, and Lady Gaga. Each collaboration is a testament to Sometime’s mission which is to celebrate and elevate Asian creativity on a global stage. Growing a Brand, Sustainably  In an era where fast fashion dominates, Sometime is doing its part to be kinder to the planet. While achieving full sustainability is tough, they are making conscious efforts to reduce their environmental impact. Their heavy-duty collection is made of 90% recycled plastic and grosgrain, and from the beginning, they made the choice to stay away from animal leather. Instead, they invested in high-quality synthetic leather with microfiber, also known as vegan leather.  Their commitment to sustainability doesn’t stop there. The brand also sources natural cotton canvas from organic fields, avoiding chemical processing. While it’s impossible to be perfect, Sometime is constantly looking for ways to be more eco-conscious without compromising on quality or style.  From Online-Only to a Thriving Business  What started as a small online business has grown into something much bigger. In 2019, Sometime opened its first physical showroom at The Gardens Mall, Kuala Lumpur. Today, they have six showrooms across major locations, including One Utama, IOI City Mall Putrajaya, KL East Mall, Setia City Mall, and IOI Mall Puchong. In 2024, they moved into their 60,000 sq. ft. headquarters, complete with a production facility and warehouse, marking a new chapter of growth.   Despite this success, Stan maintains a “first-day” attitude, constantly learning, evolving, and never becoming complacent.  Lessons from the Toughest Years  Every entrepreneur faces challenges, and for Stan, 2022–2023 tested him in ways he never imagined. With family members battling cancer, he had to split his time between personal responsibilities and running the business. For the first time, he had to step back and trust his top management team to make the big decisions. It was a difficult adjustment, but one that ultimately strengthened the company.  “I learned to let go,” Stan admits. “Now, the top management team plans and presents strategies, and I just need to give the green light. It’s a better way to run a business.”  By now, he estimates that 80% to 90% of operations run smoothly without his direct involvement. Over time, his team has developed strong strategies, and most of the solutions they propose are already complete and ready to be implemented, his role is simply to give the final approval. This shift has reinforced one of the biggest lessons in leadership: trust. Trusting employees to take responsibility and execute their roles well is what allows a business to grow beyond its founders.  His leadership philosophy is simple but powerful, trust your people. Empower them. And always, always invest in the next generation of leaders.  What’s next for Sometime?   International expansion. While the brand already has global visibility thanks to its online presence, the next step is making its mark in new markets, starting with Indonesia.  Looking back, would Stan do it all over again?  “Maybe,” he says with a smile. “If I knew then what I know now, I would have thought things through a lot more. It would have taken me longer to start. But at the end of the day, the sacrifices, the long nights, the lessons, they were all worth it.”  From a simple idea to a brand that champions Asian designers and makes luxury accessible, Sometime by Asian Designers is proof that success isn’t just about fast growth. Sometimes, the best journeys are built on steady, meaningful progress. 

Sovereign Wealth Funds (SWFs) play a crucial role in managing national wealth, ensuring long-term economic stability, and generating financial returns. With over $11 trillion in global assets under management (Global SWF, 2024), their influence extends across global markets. However, ensuring effective governance and transparency remains a priority to maintain public trust and operational efficiency. Elsa Satkunasingam, Senior Business Development Advisor for Corporate and Sustainability Governance at the Asia School of Business (ASB), shares key insights into the evolving landscape of SWFs, emphasizing the importance of governance, investment strategies, and sustainability alignment. Governance and transparency are essential safeguards against financial mismanagement and political interference. “Clear governance processes ensure that SWFs effectively manage national wealth for both current and future generations,” says Satkunasingam. “Without these measures, SWFs risk losing public confidence, which is vital for long-term success.” Recent evaluations highlight varying levels of governance and transparency among SWFs. According to Global Sovereign Wealth Fund (Global SWF) rankings, Singapore’s GIC received mid-range scores, while Malaysia’s Khazanah Nasional has demonstrated marked improvement since 2021. Indonesia’s INA, alongside these funds, continues to enhance its governance by improving board selection disclosures, sustainability strategies, and crisis-prevention frameworks. “The improvements we see are encouraging, but there is still room for SWFs to increase transparency and accountability,” she adds. Khazanah Nasional and Singapore’s Temasek Holdings exemplify strong SWF management by balancing financial returns with socioeconomic development. They operate across domestic and international markets while maintaining independence, accountability, and alignment with their investment mandates. Notably, Temasek has been recognized for its high level of transparency. “Khazanah and Temasek are strong examples of how SWFs can remain independent while contributing to national development,” says Satkunasingam. Maintaining public trust is crucial for SWFs, as they are ultimately responsible for managing national wealth. “Transparent and accountable governance structures are necessary to protect against financial mismanagement and political interference,” says Satkunasingam. “A well-governed SWF ensures that investment decisions are made based on financial viability rather than political influence.” One of the primary challenges for SWFs is striking a balance between domestic investments and international diversification. While international investments help mitigate domestic risks and enhance portfolio returns, SWFs must also contribute to local socioeconomic development. “Diversification is necessary, but SWFs must also align their strategies with national economic priorities,” says Satkunasingam. Emerging technologies like artificial intelligence (AI) and blockchain are reshaping the investment landscape. Norway’s SWF, for instance, employs AI to optimize capital deployment, reducing trading costs and improving decision-making efficiency. At the International Forum of Sovereign Wealth Funds (IFSWF) in November 2024, members agreed to integrate AI into their investment strategies. “AI allows SWFs to analyze vast amounts of unstructured data quickly, detect emerging trends, and enhance transparency,” explains Satkunasingam. “This helps in identifying ESG risks, conflicts of interest, and ensuring more responsible investing.” SWFs are increasingly incorporating Environmental, Social, and Governance (ESG) principles into their investment strategies, recognizing the long-term economic risks posed by climate change. “There is a natural alignment between SWFs and sustainability goals, particularly in addressing climate-related risks,” says Satkunasingam. Although recent uncertainties, such as investor exits from the Net-Zero Asset Managers (NZAM) initiative, have created challenges, maintaining a steady ESG commitment is critical for resilience and long-term profitability. “Climate-related risks will only intensify, making ESG integration a non-negotiable strategy for SWFs,” she emphasizes. With the launch of the Sarawak Sovereign Wealth Future Fund (SSWFF), maintaining independence from political influence is paramount. Satkunasingam suggests key protective measures, including legal frameworks to shield the Board of Guardians and senior management from external pressure, holding leadership accountable for fund management, and launching public awareness initiatives to enhance transparency. “A robust governance framework will be critical to ensuring that Sarawak’s SWF remains independent and achieves its long-term financial and economic objectives,” she advises. As SWFs navigate an evolving financial landscape, governance, transparency, and sustainability remain at the forefront of their success. By adopting best practices, leveraging emerging technologies, and maintaining strong ethical standards, SWFs can fulfill their mandate of safeguarding national wealth while driving sustainable economic growth. With institutions like the Asia School of Business contributing to the discourse, the future of SWFs in Asia appears poised for greater accountability and strategic advancement.  

The meetings, incentives, conferences, and exhibitions (MICE) industry is a vital sector within the hospitality landscape, and Putrajaya Marriott Hotel stands at the forefront, setting new benchmarks for seamless event execution, sustainability, and personalised service. Under the leadership of Nikie Mok, General Manager of Putrajaya Marriott Hotel, the property continues to evolve as a premier destination for business and leisure events in Malaysia and Southeast Asia. Creating Bespoke Experiences for MICE Events “At Putrajaya Marriott Hotel, we don’t just host events—we craft experiences that leave lasting impressions,” says Nikie Mok. “From corporate summits to grand celebrations, our team is dedicated to delivering impeccable service, state-of-the-art facilities, and customised solutions that align with our clients’ unique visions.” The hotel boasts over 20 flexible event spaces, including the rebranded Marriott Putrajaya International Convention Centre (MPICC), a key venue for large-scale conferences and exhibitions. Equipped with cutting-edge technology, hybrid event capabilities, and high-speed connectivity, these spaces cater to both in-person and virtual audiences. Additionally, dedicated event planners ensure that every detail is meticulously executed, offering organisers a seamless experience from planning to execution. Sustainability at the Heart of MICE Events Sustainability is a core pillar of Putrajaya Marriott Hotel’s MICE strategy. “As part of Marriott International’s commitment to sustainability, we integrate eco-friendly practices into our events,” Mok explains. “From energy-efficient lighting to waste management initiatives, we ensure that event organisers and attendees can make responsible choices without compromising on experience.” The hotel participates in the Connect Responsibly programme, offering a Meeting Impact Report (MIR) that calculates an event’s carbon and water footprint. Organisers can also opt to purchase carbon offset credits, further aligning their events with corporate ESG goals. Other sustainability efforts include: Sustainable Dining – Curated menus featuring plant-based options to reduce the environmental impact of food production. Waste Management & Upcycling – Workshops that promote recycling and upcycling, such as the Upcycled Plastic Pouch Workshop. Green Event Practices – Digital communication, reusable décor options, and solar-powered landscape lighting to minimise waste and energy use. Sustainability Sculpture – A symbolic centrepiece at the hotel, reflecting its commitment to environmental responsibility. A Personalised Approach to Event Planning Mok highlights the hotel’s dedication to personalised service. “Every event is unique, and our team works closely with organisers to tailor every aspect to their preferences,” she says. “From culturally significant weddings to high-level corporate retreats, we ensure that every detail is thoughtfully planned and executed.” The hotel offers a range of services to enhance the attendee experience: Dedicated event planning team – Experts who specialise in various event types, including Indian weddings and corporate conferences. Customised MICE packages – Options for wellness programmes, team-building activities, and bespoke dining experiences. Exclusive privileges for Marriott Bonvoy members – Loyalty perks such as personalised services and curated itineraries. Future-Proofing MICE Events in Southeast Asia Looking ahead, Putrajaya Marriott Hotel has ambitious plans to maintain its leadership in the MICE industry across Southeast Asia. Mok outlines key focus areas: Hybrid Event Expansion – Upgraded audiovisual systems and interactive tools to support seamless virtual and in-person integration. AI-Powered Smart Meetings – Incorporation of AI-driven tools for attendee engagement and event planning efficiency. Strengthening Regional & International Connectivity – Leveraging the upcoming IOI Resort City Express Line and IOI Airport Shuttle to attract global events. Enhanced Sustainability Efforts – Expansion of the Connect Responsibly programme and introduction of zero-waste event solutions. Cultural & Experiential Offerings – Integrating Malaysian art, culture, and cuisine into event experiences to enrich guest engagement. “Our goal is to remain at the forefront of the MICE industry by continuously innovating and enhancing our offerings,” says Mok. “With a strong focus on technology, sustainability, and personalised service, we aim to set new standards for event excellence in Malaysia and beyond.” As Putrajaya Marriott Hotel continues to elevate its MICE offerings, it reaffirms its position as a premier destination for organisers seeking world-class venues, sustainable solutions, and unparalleled hospitality. Whether for a corporate summit, a grand wedding, or an immersive conference, the hotel remains committed to delivering exceptional, memorable experiences.