Archive

Seedflex Expands Footprint to Malaysia With Seed Funding From 500 Global

Singapore-based fintech Seedflex Technologies has launched a new digital financing solution, “Pay-As-You-Sell Advance” (PAYS Advance), in Malaysia, with plans to expand across Southeast Asia. The initiative, supported by seed funding from venture capital firm 500 Global, targets micro, small, and

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EPF Divests Shares in Affin Bank, No Longer a Major Shareholder

The Employees Provident Fund (EPF) has divested three million shares in Affin Bank, relinquishing its status as a substantial shareholder, according to The Edge Malaysia. Financial details concerning the transaction’s value remain undisclosed. Prior to this sale, EPF held 121.91 million

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CIMB Group CEO Dato’ Abdul Rahman Resigns, Poised to Take Helm at PNB

CIMB Group announced that Dato’ Abdul Rahman Ahmad will resign as Group CEO effective 30 June 2024, concluding a four-year tenure. The group said that it had a robust succession plan is in place and will announce Dato’ Abdul Rahman’s

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RHB and Boost Holdings Collectively Invest RM9.5 Million in Digital Bank

RHB Bank has announced an investment of RM3.8 million to purchase 3.8 million new shares in Boost Bank, in order to maintain its 40% stake in the digital bank. This transaction was funded by the incumbent bank’s internally generated funds.

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Travel Insurance Starting at RM3/Day Now Available on Shopee

SeaMoney, the financial arm of Sea Limited, has expanded its insurance offerings in Malaysia by launching a new travel insurance product available through the Shopee platform, in partnership with Allianz General Insurance Malaysia. This new offering, accessible via Shopee, starts

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BNM Orders CIMB and Maybank to Explain Recent Service Disruptions

Bank Negara Malaysia (BNM) has ordered CIMB and Maybank to deliver a comprehensive account of the root causes behind the recent service outages, which disrupted banking operations and inconvenienced customers. The regulatory body is taking a strict stance on ensuring

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Unmasking the Deepfake Scam Threat in the Financial Sector of Asia

In the contemporary digital world, the proliferation of deepfake technology and generative AI heralds an era fraught with online scam challenges, notably within the financial sector in Asia. This burgeoning technology, characterised by its ability to create indistinguishably fraudulent audio

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Tranglo Enables Direct Payments to Over 30 Global E-Wallets

Cross-border payment hub Tranglo has expanded its services to allow instant, direct cross-border payments to over 30 e-wallets worldwide. This development aims to streamline the process of cross-border payments by bypassing intermediaries, facilitating quicker access to funds for recipients, particularly

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Touch ‘n Go eWallet to Charge 1% Fee for Overseas QR Payments

Touch ‘n Go eWallet will implement a 1% conversion fee for overseas transactions starting 25 April 2024, according to its recently updated FAQ page. This new charge will be integrated into the daily exchange rate for the user’s travel destination,

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Rohit Nambiar Resigns as Group CEO of Tune Protect

Rohit Nambiar, the Group Chief Executive Officer of Malaysian insurer Tune Protect has resigned from his position citing personal reasons, according to a filing with Bursa Malaysia. Rohit, whose career spans over two decades, has held significant roles in the

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