09/09/2025

BIZ & FINANCE TUESDAY | SEPT 9, 2025

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i-Care Marketing eyes top spot in scalp care sector

Ű BY JOHN GILBERT sunbiz@thesundaily.com

Malaysia’s demand for LPG to grow 0.8% yearly between 2025 and 2034: BMI KUALA LUMPUR: Malaysia’s average liquefied petroleum gas (LPG) demand growth rate is projected to slow to 0.8% annually between 2025 and 2034, said BMI, a Fitch Solutions company. In a note yesterday, BMI said the country’s LPG consumption faces head winds from the growing use of natural gas in the commercial and industrial sectors. It said residential and commercial LPG demand is increasingly competing with piped natural gas, electricity and liquefied natural gas. “Improvements in pipeline gas networks and electrification are weighing on LPG consumption in these segments. In the commercial sector, LPG use has declined as city gas network expansions substitute LPG for natural gas. “Residential demand remains rela-tively resilient, but growth has slowed since 2023 amid gradual policy and commercial pressure on households to switch to natural gas for cooking,” it added. The research firm said the rapid penetration of natural gas into commercial and industrial energy use, supported by continued investment in city gas networks, is likely to have a more visible impact on LPG consumption in the medium to long term. “The government’s ongoing ex pansion of natural gas transmission and distribution infrastructure will also exert a lasting drag on long term LPG use,” it said. Meanwhile, BMI expects Malaysia’s LPG exports to grow marginally, in line with potential increases in non refinery supplies. “Long term export growth prospects are supported by a structural slowdown in domestic consumption and the resulting surplus available for export. “LPG exports from liquefied natural gas plants are therefore expected to rise marginally over the coming years, broadly in line with incremental upstream natural gas and liquefied natural gas output,” it added. – Bernama See Young’s entry into Malaysia comes at a time of shifting consumer behaviour, where health-conscious and ingredient-aware buyers are driving demand for clean and functional beauty. Tu noted that this trend, combined with KUALA LUMPUR: i-Care Marketing Sdn Bhd, the sole distributor of See Young scalp care products in Malaysia, is targeting double-digit growth as it strengthens the brand’s presence in the country and aims for regional leadership. The personal care products company is projecting 10% year-on-year sales growth, with ambitions to capture the top spot in the hair loss category within the next two years. Commercial director Brian Tu said the strategy goes beyond sales numbers, with success measured by repeat purchase rates, customer satisfaction, retailer feedback, social media engagement and overall market share growth. “We are confident in these projections because not many brands can match the level of research and technology that underpins See Young’s innovation,” he told SunBiz . He said that while the brand is already recognised as the No. 1 scalp care name in China, the long-term vision is to secure top-of mind status across Southeast Asia. “Our goal is to position See Young as the leading scalp care brand in the region, setting a benchmark for sustainable growth and consumer trust.”

from China’s Uniasia, a recognised high-tech company, See Young’s proprietary technologies have earned multiple patents and awards that reinforce its competitive edge. Tu said this innovative foundation, combined with strategic partnerships and a balanced premium positioning, places the brand in a strong position to capture growth opportunities in Malaysia and beyond. “Together with Guardian, we are confident in overcoming challenges in supply chain, packaging or pricing, while ensuring accessible premium quality for middle-income con sumers,” he added. Tu said the company’s vision extends beyond retail expansion to shaping a new beauty narrative that treats scalp wellness with the same importance as skin care. “We are not just introducing another product to the market. We are building a system of scalp wellness that aligns with global trends in conscious beauty and clean living,” he emphasised.

PETALING JAYA: SME Corporation Malaysia is introducing a new financing programme through the Business Accelerator Programme (BAP) Alternative Financing Programme 2025 for small and medium enterprises in the country. A total of RM35 million has been allocated for the scheme, which offers syariah-compliant financing of up to RM400,000 to eligible SMEs at a competitive profit rate of 3.5% per annum, with the possibility of 40% of the funding being converted into grants. microLEAP, a syariah-compliant peer-to-peer financing platform that is regulated by the Securities Commission Malaysia (SC), has been appointed as the financing intermediary under the programme. With the additional allocation from SME Corp, the total funds under the collaboration with microLEAP since 2021 amounts to RM70 million now. SME Corp CEO Rizal Datuk Nainy said the agency is proud to collaborate with innovative financing platforms such as microLEAP in delivering solutions that go beyond traditional lending. “This programme reflects our commitment to rethinking SME support, not just through financing, but by embedding incentives that reward financial discipline and business growth. KUALA LUMPUR: Payments Network Malaysia Sdn Bhd (PayNet) is exploring the development of a federated artificial intelligence (AI) model, tentatively called FinancialGPT, to enhance fraud detection and strengthen security in digital pay ments. In an exclusive interview with Bernama, PayNet chief of staff Dr Endry Lim Zhen Wen said the large transaction model (LTM) would be trained solely on Malaysia’s financial transaction data to enhance resilience against cyber threats. “We believe this model would tackle fraud and scams, ensure broader financial inclusion, and address compliance challenges specific to our market while ensuring sensitive data never leaves the country. “It combines global best practices with national sovereignty, making it uniquely suited to Malaysia’s needs,” he said. o Company aims to make See Young the No. 1 brand in Southeast Asia rising interest in targeted scalp solutions, creates a strong platform for sustainable category growth. The company’s partnership with pharmacy chain Guardian further accelerates market penetration, providing instant visibility and trusted retail access. “Guardian is a powerful springboard, offering credibility, reach and efficiencies that would otherwise take years to build. At the same time, i-Care Marketing contributes local expertise, sales networks and market knowledge to ensure the brand grows sustainably and connects with the right consumers,” Tu explained. Backed by robust research and development

Tu says i-Care Marketing’s partnership with pharmacy chain Guardian provides instant visibility and trusted retail access.

SME Corp partners microLEAP to offer RM35m grant-convertible financing scheme

generating revenue and growing, and they can afford the financing, we will be there to support them,” he added. The programme offers assistance for both working capital and business improvement purposes, namely machinery and equipment purchases; environmental, social and governance adoption; product certification; advertising and promotion; and information and communication technology adoption. Only SMEs with a timely repayment track record will be eligible to apply for the grant conversion of up to 40% of their financing, subject to approval from SME Corp.

“By enabling up to 40% grant conversion, we are not only reducing the burden of repayment but actively investing in the future of high potential Malaysian SMEs that are ready to be scaled up, in line with our target to upscale small enterprises to medium-sized enterprises from 1.6% currently to 5% by 2030,“ he said in a statement. Founder and CEO of microLEAP Tunku Danny Nasaifuddin Mudzaffar said the programme is a product of listening to small business owners, to market challenges and to policy direction. “We believe financing should not just be accessible and affordable, it should also reward good financial discipline. Through our collaboration with SME Corp, we’re proud to offer a financing product that does just that. “We’ve always believed that SMEs should not need three years of audited accounts or collateral to access financing. If they’re Lim said PayNet is still at the early stages of this effort and is building its capabilities step by step. “We intend for every model that we explore to undergo rigorous checks for explainability, bias and fairness because accountability is non negotiable. “PayNet is not doing this alone. It is actively collaborating with leading researchers at respected global institutions such as MIT CSAIL and Imperial College London on frontier issues including cyber risk, data privacy and AI governance,” he said. These partnerships provide access to advanced research while ensuring PayNet’s approach remains aligned with Malaysia’s context and regulatory framework. Lim highlighted that Malaysia’s push to develop as an AI hub depends on two key challenges –

SMEs in Malaysia make up more than 96% of all businesses, yet many remain underserved by the traditional financial system. With the new programme, SME Corp and microLEAP aim to close that gap, not just with capital, but with confidence. PayNet explores federated AI model to bolster fraud detection

building talent and fostering public trust. “The industry faces a shortage of skilled AI and data science professionals, particularly those with financial services experience, and this limits the deployment of secure, innovative and fair AI solutions at scale. “Whereas, public trust depends on transparency and accountability, especially in finance, where customer protection and system resilience are vital,” he said. Lim emphasised that regulation alone is not enough to meet these challenges, and genuine progress requires strong collaboration across government, industry and academia. He also said that Malaysia’s role in driving the Asean Digital Economy Framework Agreement places PayNet at a pivotal point to help transform cross-border digital payments into a seamless, inclusive, and secure ecosystem.