Shopee’s 10.10 Shopee Live Festival Achieves Record 120-Fold Surge in Cart Conversions, Transforming Online Shopping Experience
Shopee’s 10.10 Shopee Live Festival witnessed an impressive 120-fold increase in “Add to Cart” conversions, driven by heightened new user traffic and robust user engagement. The event showcased dynamic features, attracted first-time viewers, and saw a significant surge in Shopee Mall sellers embracing Shopee Live. Notably, fashion and beauty brands capitalized on live commerce, offering a glimpse behind the scenes,...
Shopee Dominates Online Shopping Safety in Malaysia
A recent survey reveals that Shopee is the favored e-commerce platform in Malaysia, with 90% of respondents trusting it for secure online shopping. The survey of 1,000 shoppers also highlighted the importance of safety features, such as secure payment methods and verified sellers, and the role of social proof in buyer decisions. 16 October 2023 – In a recent survey, Shopee, the leading e-commerce platform in Southeast Asia and...
MDEC and Proficeo Scaleup Malaysia Celebrate Successful Conclusion of VC Readiness Program for Tech Entrepreneurs
The Malaysia Digital Economy Corporation (MDEC), in partnership with Proficeo Scaleup Malaysia, has successfully concluded the Founders Grindstone: VC Readiness Programme (VCRP). This 12-week program focused on enhancing the capabilities and skills of tech entrepreneurs, particularly in the complex fundraising process. The program aimed to bridge knowledge gaps and create a more favorable environment for attracting venture capital. An...
2023 Effectuators Night: Celebrating Triumph, Resilience, and Entrepreneurial Unity
The inaugural 2023 Effectuators Night, set for December 2nd, 2023, is a celebration of entrepreneurial tenacity and a tribute to the pioneers who have triumphed over adversity. The event promises to bring together entrepreneurs, academics, experts, and partners for an inspiring evening of networking and camaraderie. 13 October 2023 – The highly anticipated inaugural annual dinner, The 2023 Effectuators Night, is poised to grace...
Carousell Group Launches New Regional Headquarters at LaunchPad @ one-north
Carousell Group has opened its new regional headquarters, Carousell Campus, at LaunchPad @ one-north in Singapore, with a focus on advancing recommerce capabilities. This move is part of Carousell’s efforts to improve trust and convenience for secondhand transactions and establish Singapore as a prominent startup hub. 28 September 2023 – Carousell Group, a leading multi-category platform for secondhand items in Southeast...
Malaysia Debt Ventures Invests in Kapital DX to Boost Fintech and Tech Growth
Malaysia Debt Ventures Bhd (MDV) has made an undisclosed investment in Kapital DX Sdn Bhd (KLDX), marking its entry into the initial exchange offering (IEO) market. The partnership aims to support the growth of the technology and sustainability sectors in Malaysia, foster fintech innovation, and diversify MDV’s funding channels. KLDX, the first IEO platform in Malaysia, offers a unique approach to asset ownership through digital...
ASEAN Economies Face Challenges as Growth Slows Amidst Global Headwinds
Despite mixed GDP growth in the previous quarter, ASEAN economies are expected to face a slowdown in the third quarter due to various challenges, including China’s post-pandemic recovery deceleration, past US Federal Reserve interest rate hikes, weak semiconductor prices, and shifting global demand. Malaysia’s economic outlook remains cautiously positive, with signs of recovery in diverse sectors, but sustaining high...
Malaysia Digital Expo (MDX) 2023 Launched to Celebrate Digital Economy
The Malaysia Digital Expo (MDX) 2023 has been launched, celebrating the nation’s digital economy and showcasing innovations and investment opportunities from local and global companies. Under the theme “Let’s do business. Invest in Malaysia,” MDX 2023 aims to foster collaboration, highlight Malaysia’s digital assets, and position the country as a leading digital nation in the ASEAN region. 25 September...
Samenta Malaysia Advocates for Unicorn Transformation Among SMEs with Government Backing
Samenta Malaysia has urged the government to redirect its attention towards nurturing unicorn and quasi-unicorn status among small and medium-sized enterprises (SMEs). The association highlights the potential of high-growth SMEs to contribute significantly to the nation’s economic landscape and recommends channeling startup funds and government support towards these promising entities. 15 September 2023 – The Small and...
Singaporean Consumers Call for Sustainability Information on E-commerce Platforms
Over 50% of Singaporean consumers are demanding that e-commerce platforms provide information about the sustainability of products they offer, with 52% specifically requesting filters or separate categories for sustainable products, according to a study by People’s Movement to Stop Haze (PM.Haze). The study highlighted the importance of sustainability information, as 87% of consumers consider it vital for their purchasing...
Malaysia Empowers MSMEs with RM5,000 Digital Grant MADANI for Digital Transformation
In a strategic collaboration between the Malaysian Digital Economy Corporation (MDEC), BSN Bank, and the Malaysian Communications and Multimedia Commission (MCMC), the Malaysian government has introduced the MSME Digital Grant MADANI as part of the 2023 budget. This initiative aims to support micro, small, and medium enterprises (MSMEs) across Malaysia in embracing digital transformation. 15 September 2023 – The Malaysian...
Visa Survey Highlights Small Businesses’ Global Growth Ambitions and Consumer Shift Towards Digital Payments
Visa’s Global Back to Business Study reveals that SMBs are increasingly looking to expand globally, with a focus on digital payments, while consumers are leaning towards cashless transactions. 14 September 2023 – Visa, a global payments technology company, has released the results of its seventh annual Global Back to Business Study, uncovering critical insights into the future direction of small and micro businesses (SMBs)...
Cyberjaya Emerges as a Premier Tech Investment Hub, Backed by Cyberjaya Masterplan Success
Malaysian Prime Minister Anwar Ibrahim has praised Cyberjaya’s potential as a technology investment hub, citing its growth driven by the Cyberjaya Masterplan. Notable companies, including Tesla, have chosen Cyberjaya as their investment destination, and the city has nurtured a thriving ecosystem of startups and digital creative enterprises. 11 September 2023 – Malaysian Prime Minister Datuk Seri Anwar Ibrahim has expressed...
Kenanga Futures Unveils ‘Grow Your Futures’ Campaign, Offering Accessible Derivatives Trading and Valuable Prizes
Kenanga Futures has launched the “Grow Your Futures” Campaign to democratize access to derivatives trading, reducing the account opening fee to RM10 and offering attractive prizes. The initiative aims to empower traders with knowledge and opportunities in a dynamic market. 11 September 2023 – Kenanga Futures Sdn Bhd (“Kenanga Futures”) has unveiled its latest nationwide initiative, the “Grow Your...
Malaysia Launches Digital Ninja #GirlsInTech Program to Empower Women in STEM on International ICT Day
Deputy Minister YB Teo Nie Ching unveiled the Digital Ninja #GirlsInTech program on International Girls in ICT Day 2023. Organized by the Ministry of Communications and Digital (KKD) in collaboration with MDEC, the initiative aims to empower young women to pursue STEM courses. Program participants, selected through competitive competitions, received specialized training, industry insights, and scholarship guidance, all while...
Tech Titans Join Forces with NCS to Drive Digital Innovation and Cybersecurity Solutions Globally
NCS has forged seven transformative partnerships with tech giants, including Dell Technologies, Mandiant, and Visa, to drive digital innovation and cybersecurity solutions globally. These collaborations aim to empower governments and enterprises to navigate the ever-evolving digital landscape with confidence. 7 September 2023 – NCS, a prominent player in digital services and solutions, has unveiled seven game-changing...
Bank Negara Malaysia Holds Steady on 3.00 Percent OPR Amid Global Economic Challenges
Bank Negara Malaysia’s Monetary Policy Committee has decided to keep the Overnight Policy Rate (OPR) at 3.00 percent amid global economic challenges, including elevated core inflation and slower growth in China. Malaysia’s domestic-oriented sectors and infrastructure projects are expected to drive growth, with inflation likely to continue moderating in the second half of 2023. 7 September 2023 – In a decision made...
Gaabor Launches Exciting Deals for Shoppers in Malaysia during Shopee’s 9.9 Super Shopping Day
Gaabor, a prominent household appliance brand, is launching an enticing array of deals and discounts during Shopee’s 9.9 Super Shopping Day in Malaysia. With a commitment to making everyday life easier for customers, Gaabor’s offers include discounts of up to 70%, complimentary gifts, and a range of innovative kitchen and personal care products. 6 September 2023 – As Malaysia’s year-end shopping season kicks...
Asia Sees 44% Dip in Venture Funding in Q2 2023; India and South Korea at the Helm of Decline
Venture funding in Asia saw a significant 44% decline in the second quarter of 2023, with India, South Korea, and other regional nations leading the decrease, according to a report by Crunchbase. While China’s total funding numbers for the quarter remained relatively stable, a softening in early-stage funding raised concerns about the long-term health of China’s venture capital market. 6 September 2023 – In an...
Allianz Report Reveals Challenges and Resilience in the Semiconductor Industry
The electronics sector, with a specific focus on the semiconductor market, is facing a significant decline in 2023 after a period of exceptional growth, according to Allianz Trade in Asia Pacific’s latest report. Factors contributing to this decline include weakened consumer electronics sales, inventory surpluses, and ongoing geopolitical tensions. 6 September 2023 – In its latest sector outlook report, Allianz Trade in...