19/12/2025

BIZ & FINANCE FRIDAY | DEC 19, 2025

14

inDrive gets Apad approval to continue M’sian operations

progressively issuing a part of future funding requirements in tokenised bond and sukuk formats. “The group’s development of tokenised assets will focus on raising efficiency and connectivity across payments and capital markets, while advancing the use of digital asset-based instruments integral to a modernised digital financial market infrastructure. “In tandem, CIMB is also building the capabilities to support tokenised deposits, regulated bank deposits represented in token form, as a settlement instrument for tokenised securities,” it said. – Bernama Echoing this commitment to operational excellence, Huang said,“It is an honour to share our established digital expertise with MMC Ports. Together, we are focused on developing a blueprint that delivers real operational value and sets a new standard for the region.” Under the MoU, the parties will undertake feasibility studies covering three key initiatives, namely the development of a five year, business-led digitalisation roadmap for MMC Ports, the establishment of a unified group-level dashboard to track strategic key performance indicators across operations, finance, commercial and sustainability functions and the rollout of a digital twin proof-of-concept at a selected port to assess the use of virtual replication in improving operational planning and efficiency. MMC Ports partners China’s NIZE on digitalisation and smart port initiatives PETALING JAYA: MMC Port Holdings Bhd (MMC Ports), Malaysia’s largest port operating group, has signed a memorandum of understanding (MoU) with NIZE Intelligent Technology Co Ltd, a technology company established under Shanghai International Port Co Ltd (SIPG), to collaborate on developing a comprehensive digital trans formation and smart port blueprint. The strategic partnership marks a significant milestone in MMC Ports’ journey towards digitalisation and operational excellence by leveraging SIPG’s field-tested expertise, the operator of the Port of Shanghai, the world’s largest and one of the most advanced container ports. The MoU was signed by MMC Ports CEO Datuk Azman Shah Mohd Yusof and NIZE general manager Steven Huang, and was witnessed by MMC Ports chairman and group managing director of MMC Corporation Tan Sri Che Khalib Mohamad Noh and NIZE chairman and SIPG vice-president Sam Liu. Also present at the ceremony were the senior leadership and technical heads from MMC Ports’ key subsidiaries, including Pelabuhan Tanjung Pelepas Sdn Bhd, Johor Port Bhd, Northport (Malaysia) Bhd and Penang Port Sdn Bhd. The five-year collaboration is designed to translate MMC Ports’ digital aspirations into a concrete, executable roadmap. By adopting the architectural framework that currently powers SIPG’s operations, which handled 51.5 million TEUs in 2024, MMC Ports aims to adopt market-proven solutions. “We are grounding our digital trans formation in reality,“ said Azman Shah. “By partnering with NIZE, we are ensuring our digital blueprint is built upon a foundation of field-tested technological architecture. This allows all our ports to chart a path towards world-class operational efficiency with clarity and confidence.”

o Mobility platform turns attention to expansion as driver count nears 40,000

Ű BY DEEPALAKSHMI MANICKAM sunbiz@thesundaily.com

KUALA LUMPUR: Global mobility platform inDrive has received permanent approval from the Land Public Transport Agency (Apad) to continue operations in Malaysia, following the successful completion of a mandatory three month regulatory review, providing regulatory certainty for the company as it ramps up driver engagement and market expansion. The confirmation was announced at a press conference in conjunction with inDrive Malaysia’s 2025 Platinum Drivers Awards yesterday, the company’s largest driver recognition event to date, which brought together more than 150 top-performing drivers from the Klang Valley, Penang and Johor Bahru. inDrive Malaysia driver operations manager Azlan Anwar said the approval marked a significant milestone for the platform and its driver community. “Today, I am pleased to announce that Apad has officially confirmed inDrive’s licence to continue operations in Malaysia following the conclusion of the regulatory review,” he said at the press conference, adding that the company worked closely and transparently with regulators throughout the three-month process. Azlan said the confirmation provides long term stability for drivers, passengers and the broader mobility ecosystem, while reinforcing the company’s commitment to compliance and safety standards. He noted that inDrive has strengthened internal procedures, tightened document verification and enhanced audit processes to ensure only compliant drivers are active on the platform. “Every inDrive driver must hold a valid public service vehicle licence, e-hailing insurance and a roadworthy vehicle. Only after these criteria are met, and Apad approves the EVP application, will the driver be activated,” he said.

From left: inDrive communications manager SEA Shaerine Irwina Kaur, Azlan and Govin at inDrive’s press conference.

Kumaar confirmed that the approval granted by Apad is permanent, subject to standard regulatory requirements. “What we have received is a permanent confirmation of our e hailing licence in Malaysia. We are here for the long term.” With regulatory uncertainty resolved, inDrive is now turning its attention to growth. Govin said Malaysia remains one of the company’s key markets in Southeast Asia, with expansion plans extending beyond its current strongholds in Kuala Lumpur, Johor Bahru and Penang. “While our focus remains on the major cities, we are actively looking to expand our presence across the country and will not sideline other states,” he said, adding that Sabah and Sarawak remain on the company’s radar. However, operations have yet to commence there. On driver numbers, Govin said inDrive is close to achieving its previously stated target of 40,000 drivers nationwide, with about 95% of the goal already met. However, he declined to disclose the platform’s exact driver count, citing confi dentiality. To close the remaining gap, the company is rolling out mobile driver acquisition initiatives in Kuala Lumpur, alongside physical driver support kiosks in Johor Bahru and Penang, which have helped accelerate onboarding. The approval announcement coincided with the conclusion of the nationwide Platinum Drivers Giveaway, which recognised top-performing drivers for service quality, ride

completion and community contribution. Azlan said initiatives such as the Platinum Drivers Programme underscore inDrive’s long term commitment to driver empowerment and income sustainability, particularly given its low commission structure and peer-to-peer pricing model. “Our business model ensures drivers get more of what they earn, which is especially meaningful for those relying on e-hailing as a flexible and sustainable source of income,” he added. On regulatory developments affecting the gig economy, Govin said it is premature to assess the impact of proposed gig worker legislation on operating costs, as guidelines have yet to be finalised. “We are waiting for clarity on imple mentation. For now, we prefer to focus on the positives for drivers,” he said. When asked about compliance outcomes following data sharing with regulators during the review period, the company declined to disclose the number of drivers off-boarded. Still, it stressed that all non-compliant drivers have been removed. “We are 100% compliant now with all regulatory documents and features,” Govin said.

Looking ahead, inDrive said it will continue investing in driver support programmes, compliance systems and safety features, including real-time tracking, SOS functions and 24/7 support, as it positions itself for sustainable growth in Malaysia’s competitive ride-hailing market. CIMB committed to developing tokenised financial services Additional safeguards, including stricter standard operating procedures and validation layers, have also been implemented to prevent forged or inconsistent documentation, he added. inDrive country representative Govin

KUALA LUMPUR: CIMB Group Holdings Bhd said it is committed to developing tokenised financial services, encompassing tokenised assets, tokenised settlement and next-generation payment rails, in support of Malaysia’s national agenda to broaden adoption of tokenisation across the financial ecosystem. In a statement yesterday, CIMB said the various initiatives will be rolled out in phases through the Securities Commission Malaysia’s (SC) industry pilot programme on securities tokenisation, while enga

ging Bank Negara Malaysia (BNM) to seek admission into the Digital Asset Innovation Hub. The banking group said as a key near-term milestone, it has committed to Khazanah Nasional Bhd and SC’s tokenised sukuk issuance pilot project, supporting multiple workstreams covering structuring, execution through to custody arrangements and full lifecycle servicing. “The pilot workstreams are expected to progress through 2026 with phased capability build-out aligned to regulatory and opera tional readiness,” it added.

CIMB group CEO Novan Amirudin said the group is strengthening its digital and tokenisation capabilities to address real opportunities and democratise market access across the banking and financial ecosystem, in line with its purpose of advancing customers and society and the Forward30 strategic plan. “Well-designed asset tokenisation offers several potential advantages that could fundamentally transform the industry, especially in terms of accessibility, efficiency and trans parency across payments and wholesale banking.

“We will begin with practical, use case-driven applications, imple mented within the regulatory frame works and underpinned by strong governance and controls,” he said. CIMB aims to scale innovation responsibly and deliver tangible value to the market through colla boration with Khazanah, he added. CIMB in Malaysia has issued about RM40 billion of conventional and Islamic bonds over the past three years alone, the statement said. It said as the capabilities around digital assets mature, CIMB intends to convert pilot learnings by