10/12/2025

BIZ & FINANCE WEDNESDAY | DEC 10, 2025

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Cedar uplifts 3,000 micro entrepreneurs

CYBERJAYA: Ramssol Group Bhd, a licensing technology provider, announced that its wholly owned subsidiary, Rider Gate Sdn Bhd, has been appointed by the Ministry of Transport (MoT) as an authorised Road Transport Department (RTD) collection agent for motor vehicle ownership transfers, motor vehicle licence renewals and traffic summons payments. Through the Rider Gate application portal, Malaysians can now access a fully digital, con venient and secure service plat form for essential RTD transactions. The services include motor vehicle licence renewals, traffic summons payments and vehicle ownership transfers for a nominal fee per transaction. The system also provides real time reporting to RTD and the MoT, ensuring full transparency and accountability. Ramssol Group managing director Datuk Wira Cllement Tan said that being appointed as RTD’s collection agent demonstrates not only Rider Gate’s operational strength and technological capa bility but also their broader com mitment to advancing Malaysia’s digital economy. He added that this partnership positions Ramssol at the forefront of the country’s digital trans formation in the transportation sector, and they are fully prepared to deliver reliable, innovative, and user-centric services for the public. Looking ahead, Ramssol plans to continue strengthening its technology stack, investing in platform enhancements including AI application, and exploring strategic partnerships that can further elevate user experience and boost platform adoption. The group said they remain focused on expanding its digital solutions portfolio in areas where reliability, and data governance are paramount. Ramssol’s Rider Gate appointed as collection agent for RTD

KUALA LUMPUR: The Centre for Entrepreneur Development and Research (Cedar), the dedicated capacity building and training arm of Small Medium Enterprise Development Bank Malaysia (SME Bank), has empowered more than 3,000 micro entrepreneurs nationwide through the Maju Usahawan Madani (MUM) initiative. Mandated under the National Budget 2025 with a RM2 million government allocation, the MUM initiative reflects a strong collective effort to strengthen Malaysia’s entrepreneurial landscape. Delivered by Cedar, the programme continues to uplift underserved groups through inclusive and practical development support and has strengthened the foundations of women, youth-led and early-stage enterprises. This direction aligns closely with the Madani Economic Framework and the National Entrepreneurship Policy 2030 in advancing inclusive and sustainable entrepreneurship. Cedar CEO Amirul Imran Ahmat said, “The strong response to the MUM initiative, which has supported more than 3,000 micro entrepreneurs across 90 cohorts nationwide through both on-ground and hybrid online delivery, reflects the rising ambition of Malaysia’s homegrown entrepreneurs. The participation of 1,256 (42%) female entrepreneurs and 757 (25%) youth entrepreneurs highlights the CYBERJAYA: Pure play enterprise Internet of Things (IoT) solutions provider SMRT Holdings Bhd has entered into a conditional sale and purchase agreement (SPA) with Asia Fintech Ventures Group Pte Ltd for the proposed acquisition of a 37.5% equity interest in Novus Technologies Pte Ltd (Novus Tech). Founded in 2013, Novus Tech is a Singapore-based digital transformation specialist and payments solution provider, specialising in the outsourcing and management of financial services touchpoints including cash recyclers, point-of-sale terminals, and mobile applications that power alternative digital channels such as agency banking, retail billing, fuel station

infrastructure, SMRT strengthens its total digital solutions offering with Novus Tech’s platforms and managed services. Together, the combined capabilities create a stronger, more scalable foundation for delivering integrated digital and IoT solutions and accelerating growth in digital payments across the region. The purchase consideration was agreed on a willing-buyer willing seller basis, taking into account benchmarks such as the EV/Ebitda multiple. The acquisition will be fully funded through internally generated funds and is expected to be completed by second quarter of FY26, barring unforeseen circumstances. while To date, Cedar has empowered nearly 88,000 entrepreneurs through more than 3,500 structured training programmes in soft skills, financial literacy, strategy, innovation and digital adoption. This capacity building support is complemented by access to SME Bank’s financing and beyond financing programmes, including close to RM2 billion in strategic initiatives announced under the National Budget 2026. Together, Cedar said, these programmes boost entrepreneurial growth in tourism, export driven industries, technology and Industry 4.0, the halal ecosystem, sustainability and low carbon transition, women entrepreneurship, franchise development and social enterprise empowerment. With MSMEs forming more than 90% of Malaysia’s business landscape, Cedar’s targeted initiatives reinforce national economic resilience, support job creation and enhance long-term competitiveness.

o Budget 2025’s MUM programme drives inclusive growth and boosts participation among women and youth

programme’s impact on two integral segments shaping the nation’s entrepreneurial landscape.” He added they value the government’s continued confidence in Cedar, strengthened further under the expanded mandate in the National Budget 2026, which includes another RM2 million allocation. “This support reinforces our drive to nurture even more high-potential entrepreneurs in the year ahead, and the continuation of the MUM initiative under Budget 2026 affirms this long term commitment,” said Amirul. He elaborated that Cedar is stepping up their game by strengthening MSMEs’ financial discipline, accelerating digital and AI adoption and embedding ESG digitalisation, and government collection platforms. For the financial year ended March 31, 2025, Novus Tech recorded revenue of S$12.8 million (RM41 million) and earnings before interest, tax, depreciation and amortisation (Ebitda) of S$3.2 million. SMRT Group managing director Maha Palan said, “The proposed acquisition marks a major next step in expanding our regional footprint and strengthening our product portfolio within the financial services industry. By combining Novus Tech’s digital financial infrastructure with our IoT connectivity solutions, we broaden our customer base and position the group for a more diversified and sustainable revenue profile over

practices to build resilient enterprises. “Malaysia’s latest data shows stronger participation from women and youth, with women owning 20.1% of businesses and youth-led firms generating RM80.7 billion in output and more than 374,000 jobs. Growing focus on rural entrepreneurs presents an opportunity to widen targeted support, making the MUM initiative essential in equipping underserved groups with practical skills in AI, business strategy, financial readiness, digital enablement and sustainability,” he said.

Looking ahead, Amirul noted that they will continue scaling their coaching interventions and collaborations to build a more competitive MSME ecosystem. SMRT taps Novus Tech to broaden financial services

time.” Meanwhile, SMRT Group CEO Kit Au said, Novus Tech’s established customer base and presence across its markets complement their own growing footprint and portfolio of enterprise clients. “Together, this creates opportunities to broaden our reach and unlock cross-selling potential across both organisations. Over the next 12–18 months, we will focus on realising these operational synergies, deepening integration, and scaling managed sites to accelerate regional growth,” he added. This strategic alignment enables meaningful collaboration: Novus Tech gains access to SMRT’s regional reach, customer network and

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