pitchIN: Launch of Malaysia’s 1st ever Equity Crowdfunding (ECF)-Focused Microfund Campaign

pitchIN, Malaysia’s Digital Fundraising and Investment Hub, announces the launch of Malaysia’s 1st ever Equity Crowdfunding (ECF)-Focused Microfund Campaign by Spartan Ives Capital, a registered Venture Capital firm with the Securities Commission Malaysia, and managing RM275 million in Assets Under Management (AUM).

The Spartan Elevation Fund marks a milestone in Malaysia’s financial innovation landscape by making high-growth investment opportunities available with a low capital commitment, exclusively for Angel and Sophisticated investors. 

Previously, participation in a venture capital (VC) fund was limited to only sophisticated investors, requiring a minimum investment of RM250,000.

What is the minimum investment amount?

What is so special about this Micro-fund?

How may Donald Trump’s 2024 victory impact Malaysia?

The re-election of Donald Trump in 2024 as US president has introduced a wave of uncertainty and potential shifts for global markets, including Malaysia’s.

Trump's policies on trade, energy, and currency are likely to create ripple effects that Malaysian investors, businesses, and policymakers will need to navigate. 

Should we congratulate Donald Trump? Hmmmm...

Nvm lah... It's a reality now... Here are some major highlights:

What are the Incentives and Requirements of setting up a "Single Family Office" in Malaysia?

Minister of Finance II, Senator Datuk Seri Amir Hamzah Azizan announced the Single Family Office scheme as part of incentive packages for the Forest City Special Financial Zone on 20 September 2024.

Meanwhile, Securities Commission Malaysia (SC) has been tasked with coordinating the Single Family Office incentive scheme.

This comes after the Prime Minister Dato’ Seri Anwar Ibrahim’s announcement last year on policies to encourage establishment of family offices in Malaysia to draw a larger pool of investors that will widen the financing support for SMEs and the new economy.

So, let's look at the incentives given...

Substantial stake acquisition of LPI Capital Bhd by Public Bank Bhd ~ Is it a good deal?

The rumours had finally come to an end. It's now confirmed that Public Bank Bhd (PBB) is going to acquire 44.15% stake in LPI Capital Bhd (LPI) from the family of the late Tan Sri Teh Hong Piow.

Both companies were founded by the late Tan Sri Teh, who passed away in 2022. LPI Capital is mainly in general insurance business under the brand name of Lonpac.

Lonpac currently has 21 branches throughout Malaysia and 1 branch in Singapore. LPI also operates in Cambodia through a 45%-owned associated company. The remaining effective equity interest of 55% in Campu Lonpac Insurance Plc is held by PBB.

The Proposal

• Acquirer : Public Bank Bhd
• Vendor : Family of the late Tan Sri Teh Hong Piow
• Subject : 44.15% stake of LPI Capital Bhd
  
• Offer Price : RM9.80 per share
• Offer Value : RM1.72 billion cash 💢

Let's do some analysis

The Power of the Magnificent 7 ~ Tech Titans Shaping Our Future

When it comes to the stock market, a few tech giants have consistently stood out, earning the nickname "The Magnificent 7". 👀

This elite group comprises Alphabet (Google's parent company), Amazon, Apple, Meta (formerly Facebook), Microsoft, Nvidia, and Tesla. Together, they wield unparalleled power and influence over the tech industry, finance markets, and the very fabric of our digital lives.

Let’s dive deeper into who they are and why they’re such game-changers.

3 Reasons Why Ringgit is getting Stronger currently!

The Malaysian Ringgit (MYR) has been gaining ground against major currencies recently, catching the attention of investors, businesses, and travellers alike. (Some of you were surprised 😬) But, what’s driving this upward trend?

Currency fluctuations can often seem complex, but understanding the factors behind the Ringgit’s strength can provide valuable insights into Malaysia's economic landscape.

In this post, we'll break down the top 3 reasons fuelling the Ringgit's rise. Whether you’re a savvy investor or just curious about how this affects your wallet, read on to find out what’s behind the Ringgit’s recent surge!

Below are extracted from the Keynote Address by BNM's Deputy Governor Adnan Zaylani at IFN Asia Forum 2024 on 25 September 2024:

Strong Ringgit: Winners and Losers

The Malaysian Ringgit (MYR) has recently shown signs of strengthening against major currencies, especially against USD, sparking conversations among investors, businesses, and everyday Malaysians. 😏💬

While this shift has its advantages, it also brings challenges for various sectors.

Let’s explore who stands to benefit from a strong Ringgit and which companies might face some headwinds. 😭😁

Who Benefits from a Strong Ringgit?

Boost App: Convenience Fee Update effective 14 October 2024

Another day, another e-wallet announcing that they will charge 'Reload Fee' if you're going to reload using credit card.

For Boost app, it called this as 'convenience fee' (different name, yet same type of charges 😑)

However, this is not new for Boost app user. Because just in March 2024, they already announced that they will charge convenience fee of 1% but waived it up to certain reload amount per month. (Click here to read the throwback)

Now, Boost app is making an adjustment on such reload. Is it getting better or worse?

Read below:

Single Family Office (SFO) in Malaysia: An Attractive Destination with New Tax Incentives

Have you ever wondered how ultra-wealthy families manage their wealth, investments, and legacy planning? The answer often lies in something called a "Single Family Office" (SFO).

And if you're considering Malaysia as your next destination, there’s exciting news! 💖💖💖

Malaysia’s Strategic Move: Joining BRICS

In an exciting turn of events, Malaysia is set to join BRICS (if successful), the inter-governmental organization that has been making waves in the global economic and political landscape.

For those unfamiliar with BRICS, let's take a closer look at what this means for Malaysia and the world. 👀

A Brief Background of BRICS

Are you excited about the new MRT3 Circle Line?

After MRT1 and MRT2 lines, it's time to complete the final puzzle with the final line called MRT3 or Circle Line.

Members of the public can inspect the alignment map from 2 September - 2 December, 2024 at 35 locations in the Klang Valley, comprising:

• 8 MRT Info Kiosks
• 27 MRT Info Trucks at key sites

So, let's get a glimpse of the proposed MRT3 line here 👇👇👇:

The Rise of Data Centres in Malaysia and 4 Key Beneficiaries

Data Centre (DC) had recently became the new gold of Malaysia. Mari-mari come 💁💁💁. Our government is welcoming global technology giants to come onboard to setup their DCs here with priority lanes.

Hence, Malaysia is emerging as the fastest-growing player in the data centre scene within the ASEAN region, driven by several strategic advantages, such as:

• superior infrastructure
• strategic location (close proximity to Singapore)
• favourable government policies

The Malaysian government has been supportive of the data centre industry, with Malaysia Industrial Development Authority (MIDA) and Malaysia Digital Economic Corporation (MDEC) establishing a Digital Investment Office as a one-stop centre to ensure faster processes and approvals.

Started since 2019 👀

National Fraud Portal (NFP) ~ solidify coordinated efforts in curbing financial scams!

Bank Negara Malaysia (BNM), Payments Network Malaysia Sdn. Bhd. (PayNet), and financial institutions have launched the National Fraud Portal (NFP) as an integrated platform to strengthen the operational capabilities of the National Scam Response Centre (NSRC).

NFP automates the end-to-end process of handling scam reports and tracing of stolen funds by the NSRC. The integrated platform allows:

(IPO Listing) All You Need to Know about 99 Speed Mart

The blockbuster IPO listing is real and it will hit the Bursa exchange on 9.9 (2024) as expected ~ sync with it's name mah 😁. This will be the biggest initial public offering (IPO) in Malaysia in 7 years.

Founded by Mr. Lee Thiam Wah (click here to view his brief profile), 99 Speed Mart is a well-known chain of mini-market stores in Malaysia with 2,651 outlets nationwide, with 19 distribution centres across 9 states.

Currently, the company has garnered an estimated market share of 40.1%, effectively being labelled as the largest mini-market player in Malaysia.

It offers a wide range of products, including groceries, household items, snacks, beverages, and personal care products. The stores are typically small, designed to provide quick and easy access to essential goods for local communities.

Here’s what you can expect when visiting a typical 99 Speed Mart:

• Layout: The store is usually compact with aisles that allow for efficient movement. Items are neatly organized on shelves, making it easy to find what you need.
  
  
• Product Range: They offer a diverse range of product portfolio through their outlets with approximately 3,300 SKUs on average across approximately 50 product categories comprising food and beverages, personal and baby care products as well as household products
  
  
• Pricing: 99 Speed Mart is known for its competitive prices. It's popular among Malaysians for providing value-for-money products.
  
  
• Accessibility:  With the tagline of “Near n’ Save”, these outlets are strategically located in residential neighbourhoods, letting consumers the convenient for quick stops.
  

Next, let's jump straight into the key details take from the IPO prospectus below:

Where is all the AwAS cameras located? I dare you to skip this :)

The Road Transport Department (RTD) is currently conducting the phased replacement of its Automated Awareness Safety System (AwAS) cameras at gazetted locations.

• equipped technology ~ Automated Number Plate Recognition
• to enforce speed limit violations
• to enforce traffic signal non-compliance
• to reduce road accidents and fatality statistics

So, below is the full list of locations (as of writing):

GEAR-uP: RM120 Billion Domestic Direct Investment boost from 6 GLICs

In a strategic move to bolster Malaysia’s structural reforms as envisioned in the Ekonomi MADANI framework, the Ministry of Finance (MOF) is spearheading a programme aimed at synergising efforts across Government-Linked Entities to catalyse growth in key economic sectors.

Known as GEAR-uP 💫💫💫

The first phase of the programme will see 6 leading Government-Linked Investment Companies (GLIC) collectively pledge to invest RM120 billion in domestic direct investments (DDI) over the next 5 years, on top of RM440 billion in public market investments under their steady state investment programmes.

BNM: Implementation of Co-Payment Requirements for Medical and Health Insurance and Takaful Products

Bank Negara Malaysia (BNM) wishes to clarify on recent commentaries related to the implementation of co-payment requirements for medical and health insurance and takaful (MHIT) products.

The Policy Document on Medical and Health Insurance/Takaful Business aims to promote more sustainable and affordable MHIT offerings, amid the continued increase in medical cost inflation. In 2023, Malaysia recorded medical cost inflation of 12.6%, which is significantly higher than the global average of 5.6%.

With effect from 1 September 2024, insurers and takaful operators (ITOs) must offer consumers an option to purchase MHIT products with a co-payment feature. 

Catcha Digital + Keluar Sekejap = KS Lagi

Catcha Digital Berhad (“Catcha Digital”), via its subsidiary, today entered into a Joint Venture Agreement with Khairy Jamaluddin (“KJ”) and Shahril Hamdan (“Shahril”), the founders of Keluar Sekejap Sdn Bhd (“Keluar Sekejap”) to co-found and form a new disruptive digital media business, KS Lagi.

This new business will combine the digital reach and strength of Catcha Digital with Keluar Sekejap, one of the new champions of the digital media and podcast space in Malaysia.

Catcha Digital intends to assume commercial and business responsibilities for the existing Keluar Sekejap’s business and KS Lagi.

Additionally, KS Lagi will create and distribute new media content across Catcha Digital’s existing network that reaches approximately 20 million Malaysians every month.

Keluar Sekejap is in rocket speed 🚀🚀🚀

Maybank: How to switch between individual and sole proprietor access on the MAE app?

Aiyo... Is it due to many complaints received earlier? This should be the way when implementing access from day one. You know lah, many people got multiple Maybank accounts (individual and sole proprietor).

Prior to this, Maybank required a person to have multiple devices because of the change.

No worries. Now Maybank already noted and below is the new feature to solve this issue.

The New Feature!

Telekom Malaysia + Singtel = Data Centre in Johor

TM DC Educity Sdn Bhd (wholly owned unit of TM) has entered into a joint venture agreement with Nxera (wholly owned unit of Singtel) to establish a a JV entity named ST Dynamo DC, which intend to build a platform of greenfield data centre facilities in Johor.

The two leading telecommunication and digital technology companies in Southeast Asia, are teaming up together, aiming to tap the high market demand of data centre services. 💫💫💫

As we all know, the demand is propelled by, among others, rapid digitalisation and increased adoption of emerging technologies such as cloud computing, AI and e-commerce.

Another data centre project?

How Much is the Road Tax for your EV in Malaysia?

Although a little bit late from the original scheduled (which is in April), finally the much anticipated announcement was revealed today ~ the new road tax structure for electric vehicles (EVs) in Malaysia.

The new EV Road tax calculation will takes effect starting January 2026 (currently, it was waived until end-2025). As expected, it will still be based on the power output of the electric vehicle (EV) in “kW”.

Well, this is the simplest way to calculate and determine the rate, meaning ease of governance. Power output was still deemed the most feasible.

The New Structure  👀

Google to invest USD2 billion in Malaysia. Three companies will be the key beneficiaries?

In early May 2024, Microsoft has just announced a USD2 billion investment in Malaysia's AI infrastructure (click here to read). Then, Sime Darby Property announced that it will be in collaboration with its partner Pearl Computing, going to develop a hyperscale data centre.

Today, the Ministry of Investment, Trade & Industry (MITI) announcing that it has secured a commitment by Google to invest RM9.4 billion (USD2 billion) to house its first Google data centre and Google Cloud region in Malaysia.

What is US fractional share? Is it available for trading in Malaysia?

US stocks price are too expensive? 😓😑

Traditional investing can be daunting sometimes, especially for those who are just starting or have limited funds to invest. This is especially painful when we want to trade US shares which is costly (more capital is needed) due to our 'wonderful' USD MYR exchange rate. 😏

That's why the idea of fractional share investing was mooted. However, this term is new in Malaysia. Is it available now for us (small fishes) to trade 'fractionally'?

Yes, good news is here... 😍

What is US Fractional Share?

CAMSCORE ~ Star Rating for Dashcam products in Malaysia?

Dashboard camera, also known as dashcam, have become increasingly popular in recent years. These small, compact devices are designed to capture footage while driving and have been praised for their ability to provide evidence in the case of accidents or other incidents on the road.

Whether for personal or professional use, dashboard cameras have proven to be a valuable tool for drivers, insurance companies, and law enforcement.

However, do you know that there is star rating for dashcam products that are and being sold in Malaysia?

Ah ah ha... First time heard about this? Let's understand about this rating in this article.

DASHBOARD CAMERA SAFETY SCORECARD (CAMSCORE) PROGRAM

What is "Trading Reminders" introduced by Bursa?

Why the share price suddenly shoot up ah? 🚀🚀🚀

Why the trading volume of that share surge yesterday?

Any significant news on that listed company? Got meh? 👀

These are all the questions popped up among investors community when such incidents arises. Therefore, Bursa Malaysia would like to come up with another measure to encourage informed investing.

Introduction of Trading Reminders

3 Reasons why should we Invest in Businesses?

Investing in businesses has long been considered one of the most lucrative ways to build wealth and secure financial stability. From the stock market to venture capital, individuals and institutions alike have turned to investing in businesses as a means to grow their money 💰💰💰.

However, in recent years, the idea of investing in businesses has become more widely accessible and emphasized as a key component of personal financial planning.

With the rise of entrepreneurship and the increasing availability of investment opportunities, the question arises: why should we invest in businesses?

In this article, we will explore the various reasons why investing in businesses is a smart move for both individuals and the overall economy.

Microsoft to invest USD2.2bil (RM10.5bil) in Malaysia --- it's single largest investment in this country

Good news right after Labour's Day!

Today, Microsoft announced it will invest US$2.2 billion (equivalent to RM10.5 billion) over the next 4 years to support Malaysia’s digital transformation – the single largest investment in its 32-year history in the country.

Great! What is this for?

MYEG Gonna Launch Virtual Asset Fund in Hong Kong?

Zetrix Foundation and MY E.G. Services Berhad (“MYEG”) signed a Memorandum of Understanding (MoU) with MaiCapital, a licensed virtual asset manager in Hong Kong, to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.

The MoU focuses on a collaboration to issue a Securities and Futures Commission of Hong Kong (SFC) approved ETF, which would consist of a basket of cryptocurrencies, such as Bitcoin and Zetrix, and potentially other suitable cryptocurrencies.

Who are in the "Policy Advisory Committee to the Prime Minister (PMAC)"?

Well, during Tun Mahathir's 2nd stint as our PM in 2018, he set up "council of elders" comprising 5 experts from various fields whom will serve as advisors to the then government in order to rectify the then 'troubled' economic problems of the country. (Read here: Knowing the 5 'Avengers' of “Council of Elders” by Tun Mahathir)

Now, our PMX DS Anwar Ibrahim are doing the same by setting up the Policy Advisory Committee to the Prime Minister (PMAC) comprising 4 experts, and it was headed by one of the expert from the previous "council of elders" 👀👌

Who are they?

My Bank Called me asking for Personal Details? Should I Answer it?

Had you ever encountered that your banks called you and seeking additional info from you? Should you picked up the call? Should you answered the questions being posted over the phone?

Aiyoyo... Scam call is very common nowadays. How do we know which call is legitimate or not oh?

Due to the seriousness of this matter, The Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) today reiterate that its member banks will not ask for sensitive customer information such as online banking username and password, and credit or debit card number via phone calls. 

However...

ECF Tax Exemption Filing Guide and Clarification

Well, well, well... To all Equity Crowdfunding (ECF) investors, you should be getting the confirmation certificates for those of you, ECF investors, who are entitled to income tax exemptions for the Assessment Year 2023 (YA2023).

ECF investments made by individuals in 2021 would be eligible for the tax exemption in YA 2023. What are the other eligible requirements? Still remember?

(#Throwback here for you to read: How to Qualify for ECF Tax Incentive in Malaysia?) 👈

Coming back to this topic, how to file it during tax e-filing submission? 👀

New IPO: Prolintas Infra Business Trust

News of the listing of Prolintas has been making the rounds since 2017. Finally, it was being materialised now with the IPO listing. Why this IPO is considered quite unique in the eyes of investors?

First and foremost, there are no pure highway concessionaires that are listed to cater for investors seeking steady dividend returns. Oh really none? Yes, none after the delistings of LITRAK and PLUS.

So, what are the key points for Prolintas?

Quantum Metal Exchange Inc (QMEI) Share Offering?

Sunday, 24 March 2024. Yes, although today is Sunday, Securities Commission Malaysia (SC) still working to release this statement to alert the public. You know how serious is SC on combating potential investment scams in Malaysia.

🚨 Investor Alert! 🚨 

The Securities Commission Malaysia (SC) today has directed Dato’ Lim Khong Soon @ Lim Hock Seng, the Founder and Director of Quantum Metal Exchange Inc (QMEI), to immediately cease and desist the offering of QMEI shares to the Malaysian public.

Share Offering?

MAG Recorded 1st ever Net Profit since XXX years ago

"Amazing", I have to say this 😀. This has been one of the long-term problem plaguing the financial health of the nation, like a cash-sucking entity which we just don't want to dump it.

Sure, we have to write an article on this historic news in order to keep a memorable record here 😄

Malaysia Aviation Group (MAG) achieved positive operating profit for the 2nd consecutive year at RM889mil, a 64% improvement from RM540mil in 2022. Cash balance stood at RM4.3bil with no capital injections from main shareholder, Khazanah Nasional Berhad, since October 2021. 😍😍😍

MYEG Launches BNPL Programme Tailored for Automotive Services

MY E.G. Services Berhad (MYEG), in collaboration with Direct Lending Sdn Bhd, a digital financing platform, announced today the launch of a Shariah-compliant Buy Now, Pay Later (BNPL) programme tailored for automotive services.

This forward-thinking initiative is designed to assist vehicle owners across Malaysia, providing a solution to unexpected automotive expenses without the burden of immediate out-of-pocket expenses for car repairs and services.

How does it works?

Eversendai's share price +90% in one day because of these projects!

Yes, you read it correctly. Share price +90% in one day, not one year. Why is it so "gung ho" today?

In an announcement to Bursa Malaysia today (13 March 2024):

The Directors of the Company wish to announce that EVERSENDAI CORPORATION BERHAD’s subsidiaries in Kingdom of Saudi Arabia (“KSA”), United Arab Emirates (“UAE”) and India have secured new projects worth RM5.4 billion.

What are the MEGA projects?

Read here 👇👇👇

CCRIS and CTOS were not the same meh?

"Since we already have CCRIS, why do we need CTOS?"

"Creditors should look at CCRIS only, not CTOS lah"

"How come CTOS can impact my loan application"

These are some of the common questions posted by netizens all this while (since the birth of CTOS, maybe). Okok. Let us clear your mind with this article.

They looks the same, but different leh 👀💢

(EPF) What are the Differences between Conventional and Syariah accounts?

Introduced in year 2016, the Syariah account is a savings option managed and invested by the EPF in accordance with Syariah principles.

To ensure that the Syariah account is managed in accordance with Syariah as required under section 43A of the Employees Provident Fund Act 1991, a Syariah governance framework is established to govern the Syariah compliance aspects of the EPF Syariah account.

However, many members are still not familiar with the 2 types of EPF accounts and here is the comparison for your ease of reference:

Another E-Wallet going to Impose a Credit Card Reload Fee ~ Boost App

After BigPay and Touch'nGo e-wallet, now there is another popular e-wallet provider that is going to impose a credit card reload fee ~ Boost App.

In an email to all Boost App users (naming them as Boosties), citing that the latest move is needed to balance the long-term sustainability to ensure an #unstoppable journey. 👀💭

How much? When is the starting date?

Bursa Malaysia + IDX + SET + SGX Group = ASEAN Interconnected Sustainability Ecosystem

• Bursa Malaysia Berhad (Bursa Malaysia)
• Indonesia Stock Exchange (IDX)
• The Stock Exchange of Thailand (SET), and
• Singapore Exchange (SGX Group),

Collectively referred to as Participating Exchanges in this context, have announced a collaboration on the ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE).

Wow. Sounds good.

What is the objective?

The collaboration aims to advance ASEAN’s sustainable development through the implementation of common ESG metrics in their respective data infrastructures.

With more intended outcomes 👊👊👊

AEON Bank ~ Malaysia's 1st Islamic Digital Bank

GXBank ~ 1st Digital Bank in Malaysia
Boost Bank ~ 1st primarily Malaysian-owned Digital Bank

AEON Bank ~ 1st Islamic Digital Bank in Malaysia

Okok lah. Everyone is the 1st 🤣🤣🤣

AEON Credit Service (M) Berhad announced that its associated company - AEON Bank (M) Berhad has obtained approval from the Bank Negara Malaysia and the Minister of Finance to commence its digital banking operations in Malaysia. 

This positions AEON Bank as the first Islamic digital bank in Malaysia.

The approval was granted pursuant to BNM’s validation of the Bank’s operational readiness. AEON Bank is also a subsidiary of AEON Financial Service Co., Ltd.