AmBank Group’s Post

Thanks to Astro AWANI for inviting me today. While it is important to launch programs to support startups, let's also formulate an initiative to support the emerging VC fund managers that will invest into these startups. What can the government do? 1. Reduce funding for VC funds and/or startups directly from government's coffers. Government budgeting needs annual submission/approval and there's a probability of it not being topped-up, risking stunting the funding program pre-maturely. Plus government budget should go towards other pressing matters such as healthcare, education, infrastructure, etc. 2. Instead, encourage the GLICs - EPF Malaysia LEMBAGA TABUNG ANGKATAN TENTERA Tabung Haji Khazanah Nasional Berhad Permodalan Nasional Berhad PERTUBUHAN KESELAMATAN SOSIAL (PERKESO) KWAP Malaysia to allocate small portion (often <0.1% of their AUM) to seed young VC managers for 5-year program. This provides certainty and continuity. They collectively have >RM1tn Assets Under Management (AUM). 3. Invest 10-20% of the new VC's fund size (Malaysia or regional-based), the rest to for them to raise from other LPs . 4. Match commitment level to Malaysia investments. 5. Provide credibility to first-time managers during fundraising to convince other local/foreign LPs to invest in their funds. 6. These VC funds will each invest in at least 10 startups, which some of them will grow towards becoming unicorns/decacorns 🦄 🚀 Singapore did this 10 years ago and it gave birth to a thriving local/regional VC fund managers like Wavemaker Jungle Ventures Monk's Hill Ventures Golden Gate Ventures and others. At the same time, it will create/strengthen the supporting industries with special focus on funds such as company secretary, fund administration, legal practices, accounting firms, due diligence partners. Let's create a more vibrant #malaysia startup ecosystem

Tanamduit officially collaborates with BP Jamsostek It is an honor and a great responsibility to collaborate with BPJS Ketenagakerjaan (now the popular name is BP Jamsostek). Collaboration will start with distributing the Surat Berharga Negara/ SBN (the Retail Government Securities) where BP Jamsostek participants can buy or invest in SBN in the JMO application, managed by BP Jamsostek, which is connected to the Tanamduit digital platform, a SBN Distribution Partner appointed by the Ministry of Finance, the SBN issuer. Investing in SBN has become easier and has reached the wider community, including through the JMO application which is used by 20+ million users spread throughout Indonesia. Investing in SBN can be started with just IDR 1 million, the returns are usually above deposit interest rate. The most interesting and important thing is that investing in SBN is guaranteed by the Republic of Indonesia for the payment of principals as well as the coupons as outlined in the Government Debt Securities Law Number 24 of 2002 Article 8 Paragraph 2 and Law Number 15 of 2017 Article 22 paragraph 2 ( Undang Undang Surat Utang Negara Nomor 24 Tahun 2002 Pasal 8 Ayat 2 dan Undang Undang Nomor 15 Tahun 2017 Pasal 22 ayat 2) Thank you BP Jamsostek for the opportunity and trust in Tanamduit. #tanamduit #bpjamsostek #jmo #suratberharganegara

AmBank - The 2nd module under the ‘Amplifying MSMEs Programme’ has begun in Johor Bahru! This module is part of the Entrepreneurship Development Workshops. https://lnkd.in/g4sd8SDQ

News Announcement: HLB launches Program e-Duit in Bagan Nakhoda Omar As part of our commitment to spearheading community investment, promoting digitalisation, and championing financial inclusion, we have launched the Programme e-Duit Desa in Bagan Nakhoda Omar, Sabak Bernam, Selangor (BNO), catalysing a holistic digital transformation throughout the region. Since launching our cashless transformation initiatives in Penang before the pandemic and our flagship HLB @ Kampung programme in Sekinchan, Andrew Jong, Managing Director of Personal Financial Services at HLB added that the Bank is always looking for new ways to uplift local communities and businesses via digital means, and hopefully becoming a catalyst for future widespread growth. HLB’s Brand Ambassador Alif Satar said, “I frequently come to Bagan Nakhoda Omar on my cycling trips, and I usually cannot have too much cash on me. Enabling local businesses to accept cashless payments will not only make transactions more secure, but also make payments quicker and more convenient for visitors like me who are passing through BNO.” Click here to read the complete article on The Sun Daily https://lnkd.in/gPazBVd6 Pictured (L-R) HLB Brand Ambassador Alif Satar and Andrew Jong, Managing Director, Personal Financial Services at HLB #banking #financialservices #cashless #digitaltransformation