07/08/2025

BIZ & FINANCE THURSDAY | AUG 7, 2025

15

Huge potential for asset tokenisation in Malaysia

Services Producer Price Index rises in second quarter

PUTRAJAYA: Malaysia’s Services Producer Price Index (SPPI) recorded a year-on-year increase of 1% in the second quarter this year, up from the 0.6% increase registered in the previous quarter, according to the SPPI report released yesterday by the Department of Statistics Malaysia (DoSM). Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the arts, entertainment and recreation index increased by 4.5%, moderating from a 6.6% increase in the previous quarter. “This was primarily driven by the other amusement and recreation activities index (1.9%). The accommodation and food and beverage service activities index also continued its upward trend, rising by 3.6%, similar in the first quarter of 2025. “This was supported by increases in restaurants and mobile food service activities index (4.2%) and beverage service activities index (2.7%). Other indices that recorded increases were education (1.3%), health (0.6%) and professional (0.5%),” he said in a statement. In contrast, he said the transportation index fell by 0.8%, albeit a smaller contraction compared to the 3.1% drop in the previous quarter. “The decrease was mainly attributed to a drop in the passenger air transport index (-4.8%). The real estate activities index also recorded a marginal decrease of 0.1%, after an increase of 0.1% in the previous month, influenced by real estate activities on a contract basis index (-0.1%). “Meanwhile, the information and commu nication index stayed flat,” he said. Mohd Uzir said on a quarter-on-quarter basis, the SPPI increased by 0.3%, maintaining the same rate as in the previous quarter. “The increase was primarily attributed to arts, entertainment and recreation index (2%) and accommodation and food and beverage service activities (0.6%). Both transportation and education indices registered an increase of 0.3%, respectively. – Bernama InvestKL: RM2.8b committed investments in H1’25 KUALA LUMPUR: InvestKL has secured RM2.8 billion in committed investments in the first half of 2025, anchoring five new regional hubs in Greater Kuala Lumpur and creating 1,197 high skilled job opportunities. This achievement reinforces Greater KL’s rise as a strategic destination for global companies investing in high-value, innovation-driven services, a key pillar in Malaysia’s strategy for long-term economic resilience. The new investments span sectors including IT infrastructure, consumer healthcare, materials science, financial asset servicing, and renewable energy. These hubs will serve as platforms for regional growth, advancing Malaysia’s position in the global services value chain. The new regional establishments include a Mainframe Centre of Excellence by the world’s largest IT infrastructure services provider, supporting mission-critical systems across key sectors: a Global Business Services Hub by a healthcare group, streamlining operations across Southeast Asia; a multifunctional Regional Hub by a global materials science and digital ID leader, driving advanced manufacturing and supply chain innovation; a Centre of Excellence offering asset servicing, compliance, and IT support by a leading financial services provider and a digital first Global Services Hub by a top renewable energy player, powering green transformation and regional sustainability. “These investments demonstrate continued confidence in Malaysia’s strong fundamentals and mark a milestone in enhancing the region’s ease of doing business,”said Invest KL CEO Datuk Muhammad Azmi Zulkifli. The 1,197 new jobs span regional, specialist, and support functions, with average executive salaries exceeding RM11,700 per month.

such as Kenanga Digital Investing and the Rakuten Trade online stockbroking platform, but also through a series of strategic investments and partnerships. This includes a stake in Kinetic DAX Sdn Bhd, one of the country’s first licensed digital asset exchanges – reinforcing its commitment to digital assets and the broader crypto ecosystem. In addition, Kenanga has invested in pioneering fintech and digital finance companies including Helicap Pte Ltd (data driven private credit), Bay Group Holdings Sdn Bhd (supply chain financing), Merchantrade Asia Sdn Bhd (e-money and remittance services), and entered partnerships with leading technology and payment firms such as Ant Group Co. Ltd. These initiatives demonstrate Kenanga’s proactive approach to shaping Malaysia’s financial future through innovation, collaboration, and a robust presence in digital and digital asset markets. Saison Capital Pte Ltd is the venture capital arm of Credit Saison; it invests in early stage companies across all verticals, with a focus on fintech, e-commerce and Web 3.0. Helix is a blockchain-based tokenisation startup founded by Helicap. It enables the issuance of tokenised private credit and alternative assets. Satori Research Ltd is a leading liquidity provider, market maker and algorithmic trader for digital assets.

a way towards building a robust digital asset ecosystem using a call to action and whole-of nation approach. Traditional financial institutions can act as early adopters and counterparties to asset owners, who in turn create credible investment-worthy products. Equally important are infrastructure providers, government agencies and community leaders whose collective efforts can help shape the future of Malaysia’s digital economy to make investing inclusive, equitable and empowering for every Malaysian. The report encourages all parties to recognise that each has a distinct yet interdependent role in creating a progressive capital market landscape. This report highlights the scale of what is possible if we take the right steps today. While digitalisation has enhanced customer interfaces and experience, tokenisation offers a deeper structural reform by reshaping how financial assets are issued, traded and governed. As such, Project Juara dives deep into examining the institutional, regulatory and technological conditions needed to unlock that potential by drawing on lessons from other markets and models across Southeast Asia. It aims to provide a roadmap that sparks dialogue and guides real action. Kenanga Group has significantly expanded its digital footprint in recent years, not only by launching cutting-edge platforms

KUALA LUMPUR: Kenanga Investment Bank Bhd, Saison Capital Pte Ltd, Helicap Labs Pte Ltd (Helix), and Satori Research Ltd yesterday announced the release of a white paper that offers insights into the asset tokenisation industry’s potential and its significance in driving financial transformation in Malaysia. Titled Project Juara: Malaysia’s Asset Tokenisation Opportunity (Project Juara) and authored by all four parties, it estimates that Malaysia’s tokenised asset market could reach US$43 billion (RM182 billion) by 2030, spanning regulated products such as unit trusts, bonds and sukuk. Project Juara aligns with national interest, particularly in light of Prime Minister Datuk Seri Anwar Ibrahim’s remarks in April 2025 that “with the right steps, Malaysia can position itself at the forefront of this transformation”, after discussions on the nation’s potential as a major hub for digital assets and the blockchain industry. Against this backdrop, Project Juara charts o White paper offers insights into industry and significance in driving financial transformation

Malaysian, Thai tech companies forge partnerships PETALING JAYA: Malaysia Digital Economy Corporation (MDEC), in partnership with the Malaysian Research Accelerator for Technology & Innovation (Mranti), concluded its latest Digital Exports (DEX) Connex Thailand 2025 initiative with the signing of 10 MoUs between Malaysian tech companies and Thai partners. These partnerships are expected to generate over RM200 million in potential digital export opportunities for these local tech companies. Held in conjunction with the Techsauce Global Summit 2025, a total of 52 Malaysian tech companies participated and expanded their international presence, while also fostering innovation-driven partnerships across Asean. Minister Datuk Seri Anwar Ibrahim. This renewed agreement reinforces both nations’ shared ambition to develop their digital economies through joint initiatives and knowledge exchange. MDEC CEO Anuar Fariz Fadzil said: “This renewed partnership with depa Thailand is testament to the strong synergy between Malaysia and Thailand in building a digitally connected and future-ready Asean. DEX Connex goes beyond being an access programme to serving as a catalyst for strategic, cross-border collaborations that generate exports, attract investment and build resilience for our tech ecosystem.” DEX Connex Thailand 2025 was organised in collaboration with key partners including the Embassy of Malaysia in Thailand, Matrade Thailand, Miti, Mranti, depa Thailand, True Digital Park, Techsauce, the Malaysia-Thai Chamber of Commerce, GEN Thailand, and the Diplomatic Council. These partnerships provide Malaysian tech companies with a strong support network and access to new market opportunities. From left: Kenanga Investors Bhd director, product & market development head Ranjit Singh Gill, executive director & CEO Datuk Wira Ismitz Matthew De Alwis, Kenanga Group managing director Datuk Chay Wai Leong, Saison Capital partner Qin En Looi, Satori Research co-founder and CEO Teong Hng, and Helix co-founder & CEO Jitendra Singh Jaitawat. expected to spark innovation and open new growth opportunities for businesses in both countries.

Looking ahead, MDEC will host the inaugural Smart City Expo Kuala Lumpur 2025 (SCEKL 2025) in September. Themed “AI Cities: Shaping Our Digital Future”, the event will highlight Malaysia’s leadership in smart and sustainable digital solutions aimed at building more inclusive, connected, and future-ready cities.

Several other MoUs were also signed between Malaysian and Thai companies, paving the way for collaboration in areas such as joint ventures, technology transfers, and market access. These partnerships are

A key highlight of this programme was the renewal of MDEC’s MoU with Thailand’s Digital Economy Promotion Agency (depa), first signed in 2023 and witnessed by Prime