[Written in partnership with PubliCT.io, but the editorial team had full control over the content.]

Entrepreneurs will know properly setting up a company and incorporate it as a private, limited company (a Sdn Bhd) can be quite the tedious task. However, as menial as the duty is, it’s a critical step in owning and running a business.

But why waste time on boring paperwork, when that time can be much better spent on leading a team, devising actual products, or growing a company?

That’s where digital company secretary services come in.

One startup in Malaysia that offers such services is iCompany. Developed by local IT experts under the guidance of licensed company secretaries, iCompany offers an array of online company secretarial services.

Although it’s only been a few months since its official launch in November 2023, the platform has already gotten 200 early adopters using its services.

These include preparing resolutions and other documentations, submitting them to the Companies Commission of Malaysia (SSM), and assisting with continuous compliance and secretarial duties.

And of course, these services come particularly in handy when incorporating a company.

“Most, if not all, entrepreneurs have this fear of starting up,” said Asyraq Rashid, the founder and CEO of iCompany. “iCompany provides that peace of mind to do it anytime, anywhere at your convenience and comfort.”

iCompany is able to achieve this through its innovative AI-enabled features, including SAIRA (Secretarial Artificial Intelligence Remote Assistant) and other advanced automation capabilities.

Leveraging technology, no papers are involved and no appointments are needed. And beyond incorporation, the platform can also help entrepreneurs manage other compliance issues.

A team of experts

Speaking to Vulcan Post about his motivation to start iCompany, Asyraq shared that he’s heard of the hardships of registering a company from businesspeople directly.

“When I speak to people about why they don’t incorporate a Sdn Bhd for their business, the pain points are always the same,” he revealed. “First is cost, second is complexity, and lastly is availability.”

And iCompany intends to solve all that while also offering convenience.

Asyraq in particular understands the complications of the Companies Act, which he has been familiar with since he was an intern with the Securities Commission in 2008.

Aside from Asyraq himself who is an ex-regulator with the Securities Commission with experience of being a lawyer and company secretary, the iCompany team also comprises an experienced ex-auditor and IT developers who are are trained in business compliance and security.

“The title ‘experts’ is not for us to claim but we have over 50 years of combined experience in a team of six,” he said.

The reliability of this team may be a reason why organisations such as MyData-SSM has chosen to work with iCompany.

Specifically, iCompany’s services have been integrated onto MyData-SSM, the official and leading service provider for the Companies Commission of Malaysia (SSM) to further enhance the efficiency and reliability of the incorporation process and other compliance activities.

Especially with iCompany being such a young business, this partnership helps solidify iCompany’s status as a reliable digital secretary platform.

“After multiple emails and incessant phone calls, MyData-SSM agreed to have a session with us,” Asyraq shared about the process. “They were writing us off as just another self-proclaimed Digital Company Secretary but we requested the opportunity for a real presentation which some of them tried themselves.”

“And that was it,” the founder proudly shared. “That sealed the deal.”

Standing out from the competition

As Asyraq himself mentioned, there are quite a number of Digital Company Secretary firms out there. However, he believes that many of these sites do not actually encompass the full scope of being a company secretary.

He finds that many of their systems do not respond intuitively to users and often have a limited number of service offerings that can be done online. 

On the other hand, iCompany is an end-to-end system that lets users incorporate, manage, and do what is required of any Sdn Bhd to comply with the law.

Moreover, Asyraq believes all this is being offered at an affordable price, achieved thanks to the automation of the iCompany System. According to the founder, the team wants to be fully automated by 2026.

Aside from those USPs, Asyraq is also proud to share that iCompany is fully owned by a Malaysian and developed by Malaysian IT developers. He also claimed that the company is purely bootstrapped with no loans, investments, or backing yet.  

“Of course, there are bugs and fixes for now, but we are confident we are on the right track to be Malaysia’s Premier Digital Company Secretary and the market leader in Regulatory Tech,” he said.

For those concerned about security, iCompany uses a headless architecture which means the front end of the iCompany System is decoupled and separated from the backend.

Moreover, the servers are only accessible internally, meaning the network is not exposed to the public.

The team also targets to implement E-KYC (Electronic Know Your Customer) before the end of March.

The future of the company

By the end of this year, iCompany hopes to help register 1,000 Sdn Bhds through its platform. Once this is achieved, they hope to double the increment for subsequent years.

All this will help the startup achieve its goal of becoming the go-to business gateway for the ASEAN region.

With this vision, Asyraq and his team are working to lead the regulatory technology industry.

“iCompany is about redefining efficiency and providing a value-for-money experience that shifts paradigms,” Asyraq said. “It’s 2024, and owning a Sdn Bhd should not be a chore.”

• Learn more about iCompany here.
• Read other articles we’ve written about Malaysian startups here.

Featured Image Credit: iCompany

[Written in partnership with ChargeSini, but the editorial team had full control over the content.]

With the rapid rise in electric vehicle (EV) adoption and increasing demand for charging infrastructure in Malaysia, the need for expansion is paramount.

At least, that’s what local charging point operator ChargeSini believes.

“The EV market presents a vast opportunity, but capital investment is crucial to meet the surging demand effectively,” the team shared with Vulcan Post.

As such, ChargeSini is now raising for its Series A, targeting to raise US$6 million within a timeframe of six months, placing it at a valuation of US$120 million.  

“This funding round is pivotal as it allows us to capitalise on the momentum we’ve gained in building EV charging infrastructure,” they explained.

ChargeSini also shared that they’ve signed numerous ongoing projects, with concrete plans to construct over 300 new charging points across prime locations in Malaysia by end of this year.

After successfully going the equity crowdfunding route previously to raise RM5.6 million, ChargeSini is now targeting institutional investors such as venture capitalists and private equity firms who can lead them into subsequent rounds of funding.

But aside from raising its series A, ChargeSini is also opening up its business to another kind of investor—project partners.

Own your own stations

ChargeSini revealed to Vulcan Post that along with the Series A investment opportunity, the company will be shifting its business model away from traditional ownership structures.

Moving towards an asset-light business model, ChargeSini is inviting external investors and individual stakeholders to participate as project partners by purchasing and owning ChargeSini’s EV charging stations at specific locations.

“This innovative approach allows ChargeSini to leverage upfront capital from investors, thereby mitigating the need for extensive asset ownership,” the team explained.

ChargeSini’s project partners have the opportunity to invest in specific projects or stations, with ownership starting at an investment of RM100,000 per EV station.

This shift in business models was sparked by the urgent need to optimise capital efficiency, the team elaborated.

“With the government targeting 500,000 EVs on the road by 2030 as part of its sustainability goals, the scale of the challenge became clear,” they pointed out.

To address the demand, ChargeSini shared there would be a requirement of at least 50,000 charging ports in the next five years.

“However, our previous heavy asset ownership model posed constraints on scalability and required substantial financial commitments, prompting us to explore alternative approaches,” they said.

When relying solely on internal resources proved to be insufficient, ChargeSini saw the answer in a collaborative approach.

This not only alleviates the burden of capital on ChargeSini, but it also fosters a synergistic ecosystem, much like that of a franchise model.

How it operates

Under the new model, all net profits from a station will go to the project partners.

On the topic of expected return on investment (ROI) for project partners, ChargeSini said that would be contingent upon the growth of the numbers of EV in Malaysia.

“We anticipate a booming EV market within the next two years, with an expected ROI timeframe of two to four years, depending on EV adoption rates and usage patterns,” they elaborated.

The EV startup is already selling new locations currently, with the investment from project investors being utilised to construct these stations.

They have already listed a number of bundled locations on their website that potential project partners can start booking.

Upon booking a lot, investors will be required to provide a deposit to secure their reservation.

Following this, ChargeSini will provide a clear timeline outlining the expected completion and readiness of the charging station. Once the investor has paid the full amount, ownership of the respective stations will be officially transferred to them. 

The procedure is comparable to property projects, ChargeSini explained.

The machines will also come with a warranty. That means project partners will receive comprehensive support and maintenance throughout the duration of the partnership. 

Project partners also have the flexibility to sell back their lots, ensuring an exit strategy and ensuring liquidity for their investment.

Putting the EV in evolution

At the time of writing, ChargeSini has already secured more than 10 bookings.

They clarified that there are no specific targets for the number of lots booked or capital raised. Rather, they want to focus on delivering value to investors.

Beyond this business model, ChargeSini will continue to maintain self-owned stations in other locations.

“This hybrid approach ensures a balanced portfolio of owned and partner-owned stations, maximising market coverage and profitability,” the team concluded.

Through this evolved business model that’s in conjunction with its Series A fundraising, ChargeSini hopes to expand its charging station’s presence, in turn advancing the adoption of sustainable transportation solutions in Malaysia.

• Learn more about ChargeSini here.
• Read other articles we’ve written about ChargeSini here.

Featured Image Credit: ChargeSini

[Written in partnership with ChargeSini, but the editorial team had full control over the content.]

Last year, the Malaysian electric vehicle (EV) industry scored a win in the form of the entry of major players such as Tesla and BYD.

Moreover, EV adoption has been growing year-on-year, rising to 7,500 units sold in the first nine months of 2023 alone. The total units of EVs sold from 2019 to 2021 was just 300 units, mind you.

With all this in mind, increased EV adoption is something that we predict will continue substantially in 2024.

But don’t just take it from us—ChargeSini believes the same. ChargeSini is a local EV charging point operator (CPO) with a total of 596 charging points across 193 locations.

As we settle into the new year, we wanted to get more insights from local players like ChargeSini on what we can expect from Malaysia’s growing EV sector. 

Despite the promising growth, though, there are unique challenges that Malaysia’s EV market faces.

One main challenge, ChargeSini pointed out, is the oil subsidies in Malaysia.

“Malaysia offers some of the cheapest oil in the world to its citizens, where locals can pump for just RM2.05/litre,” the team told us. “In 2022, the Malaysian government bore a hefty subsidy of over RM80 billion for RON95 petrol, diesel, liquefied petroleum gas (LPG), and electricity.”

These sorts of subsidies may stand in the way of EV’s growth. But, this may also present an opportunity for the industry, which leads us to ChargeSini’s first prediction for the EV industry in this year.

1. Reduced expenditure on oil subsidies

As mentioned, the Malaysian government has spent quite a lot on oil subsidies over the years. For 2024’s Budget, it’s stated that subsidies for diesel fuel will be rolled out in phases.

One way the government can reduce its spending on these subsidies is by promoting the use of EVs, which is of course a win for startups in the industry like ChargeSini.

“This potential policy shift could further improve the prospects of the EV market in Malaysia, making it an exciting space to watch in the coming years,” ChargeSini said.

2. Lowered EV prices

Last year, updates on Proton and Perodua’s planned local assembly of EV cars were released.

In August 2023, The Edge reported that Perodua was planning for the local assembly of its EV cars. Its president and CEO Datuk Seri Zainal Abidin Ahmad had said that the company is “looking at a variety of ways to introduce EVs to the mass market”.

On top of that, he said a goal is to make them affordable for most Malaysians.

We know that lowering the cost of EVs is a key factor that can help increase EV adoption, so Perodua’s foray into the scene is definitely something exciting for the landscape.

Leveraging part-owner Geely’s knowledge, Proton’s EV initiative is also underway, with reports stating that its new EV model can be launched as early as 2025.

These local players’ push into EVs may help encourage more confidence in the sector amongst Malaysians.

3. More EV options to foster more demand

ChargeSini shared that in 2024, there will be more globally recognised EV models (such as BMW i5, BYD Seal, and MG ZS EV) entering the Malaysian market.

These increased options for consumers will in turn foster healthy competition, contributing to the diversification of the EV portfolio in Malaysia.

“At ChargeSini, we view these developments as positive catalysts for the EV industry’s growth,” the team said.

“The availability of diverse and competitively priced EV models, combined with our commitment to an extensive and accessible charging infrastructure, creates a synergistic ecosystem that encourages wider EV adoption in Malaysia.”

4. Increased charging options in commercial areas

Of course, with increased EV adoption, there’ll also come a wider network of charging points.

For ChargeSini specifically, they shared that they have been continuously establishing a comprehensive and easily accessible charging network across Malaysia.

For 2024 in particular, the startup has strategically partnered with various hypermarkets to position its charging points.

They teased, “Look forward to encountering ChargeSini’s DC Fast Charge stations at 28 Mydin Hypermarket outlets, AEON Big, Target Hypermarket, Today’s Market, and 59 Lotus’s Hypermarket locations throughout Malaysia.” 

Clearly, a primary focus of theirs this year will be on commercial areas. That said, ChargeSini is also committed to enhancing the charging infrastructure in residential condominiums, collaborating with local city councils to provide value-added facilities.

This could be something that we see more service providers doing in the near future too.

5. Increased global recognition of Malaysia’s EV industry

Tesla’s entry into Malaysia last year has been monumental in helping put our nation on the map when it comes to EVs. After all, it was a part of the government’s push to make Malaysia a regional hub for the EV industry.

While global companies like Tesla are planting roots in Malaysia, homegrown companies may also be looking to make their presence known abroad.

For one, Nikkei Asia reported in October 2023 that Proton was looking to set up an EV factory in Thailand.

Meanwhile, startups like ChargeSini are also expanding beyond Malaysian borders.

Starting the year off with a bang, ChargeSini is inaugurating its initial charging stations in Medan, Indonesia this month, marking the commencement of its journey into the Southeast Asian region.

6. Increased clarity on local regulations

This one is perhaps both a prediction as well as a hope.

Explaining the regulatory landscape in Malaysia, the ChargeSini team shared their concerns over the inspection and SOP guidelines set by Bomba for charging station operations with us.

“While a two-year grace period has been provided, we have encountered challenges due to the lack of clarity in these guidelines. The uncertainty has prompted concerns from our clients, impacting the seamless deployment of EV charging stations on their premises,” they said.

As the industry matures and develops, though, processes are bound to become more streamlined.

And with more streamlined and clearer processes, players in Malaysia’s EV ecosystem, from CPOs like ChargeSini to manufacturers like Proton and Perodua, may stand a better chance to go up against the global giants. 

• Learn more about ChargeSini here.
• Read other articles we’ve written about electric vehicles here.

Featured Image Credit: ChargeSini

[Written in partnership with ChargeSini, but the editorial team had full control over the content.]

Tabled last month, the Malaysian Budget 2024 introduced several measures that are expected to boost the electric vehicle (EV) industry in Malaysia.

The highlights are:

• Gentari, TNB, and Tesla are pledging RM170 million to expand their EV fast-charging networks and build 180 new stations.  
• As a part of an incentive scheme, the government is offering RM2,500 rebate on electric motorbikes for Malaysians earning under RM120,000 annually.
• RM600 million has been allocated for Prasarana Malaysia Berhad to acquire 150 electric buses and construct three bus depots.
• Individual income tax exemptions of up to RM2,500 for those spending on EV charging facilities will be continued for four more years.
• Tax rebates for EV vehicle rentals will be extended for two more years.

This definitely sounds like good news to many EV users, especially with the continuation of individual tax exemptions. However, is it all good for local startups in the EV space?

We asked ChargeSini, a local charging point operator (CPO), to give their insights of these EV-related allocations for Budget 2024.

Concerns over the RM170 million pledge

While it’s great to see large companies such as Tesla, TNB, and Gentari pledge RM170 million to build EV charging stations, ChargeSini shared that they have some reservations.

This is as they believe that the Budget 2024 should have considered a more inclusive approach in order to support small, private, and local CPOs.

“It’s crucial to promote competition and innovation in this growing industry, and small-scale CPOs play a vital role in achieving this,” the team shared.

The startup also pointed out that RM170 million to build at least 180 stations means that nearly RM1 million is allocated per charging station, which is rather high.

With that in mind, ChargeSini encouraged a more relevant distribution of resources by companies like Tesla, TNB, and Gentari to ensure fair and efficient development.

That said, the startup recognises that the 180 EV charging stations will certainly be a positive development for the EV industry in Malaysia.  

Still, local CPOs will continue to have a role to play in the EV market, especially as the EV industry in Malaysia is considerably nascent.

Small drops make an ocean

Another EV-related advancement to come out of the Budget 2024 is that Putrajaya will be modelled as “Malaysia’s low-carbon city”, whereby the government will install solar panels on government building rooftops in collaboration with TNB and Gentari.

Moreover, the government will also begin using EVs as part of its vehicle fleet.

ChargeSini believes that this decision is a significant and positive step toward promoting EVs and charging infrastructure in Malaysia.

These should help with public perception and awareness, sending a clear message to the public that EVs are a viable, sustainable mode of transportation.

The acquisition of electric buses to the tune of RM600 million and the electric bike schemes are worth commending too, the CPO shared. Both offer more affordable and accessible forms of EV transportation compared to EV cars.

Since ChargeSini will also offer charging solutions for e-bikes and electric buses, this is good news for the homegrown company too.

Ultimately, though, ChargeSini believes that the most significant EV-related measure from the Budget 2024 is the extension of individual income tax relief on charging facility expenses.

“Our mission at ChargeSini is to provide the easiest and most convenient charging platform to the public,” they explained. “By extending tax relief for EV charging expenses, the government is incentivising more individuals to consider and ultimately adopt EVs.”

“This, in turn, leads to an increase in demand for EV charging services, benefiting both the industry and ChargeSini.”

With global companies such as Tesla coming onto the scene and investing into the Malaysian market, it’s easy to overlook smaller startups playing their part to support local EV users.

However, especially because Malaysia still has a way to go in terms of EV adoption, it’s important for these startups to continue fostering the scene and innovating the market.  

As ChargeSini put it, “We believe that the government support should extend to a diverse range of market participants. By doing so, Malaysia can accelerate the adoption of EV and create a thriving ecosystem that benefits consumers and businesses alike.” 

• Learn more about ChargeSini here.
• Read other articles we’ve written about electric vehicles here.

Featured Image Credit: RTM / ChargeSini

[Written in partnership with Generali, but the editorial team had full control over the content.]

Through their Insurance Innovation Challenge Fund (IICF), Generali and United Nations Development Programme (UNDP) are seeking innovative insurance solutions that will enhance the resilience of SMEs in Malaysia.

A United Nations organisation, the UNDP fights to end the injustice of poverty, inequality, and climate change. Meanwhile, Generali is a global insurance provider that has been active in Malaysia since 2015.

Together through the IICF, they are looking for submissions with long-term sustainable solutions to safeguard SMEs against climate and other risks, be it through scaling up existing solutions, partnering with diverse distribution channels, and integrating new technology solutions.

For example, products can cover stock and machinery, business continuity, staff, specific or multiple risks. 

Through an open selection process, the IICF will facilitate and incentivise the development of two or more solutions.

Winning applicants will each be awarded up to US$40,000 including financial and technical assistance to support the development of their proposed solutions. 

Beyond that, the winners may be able to access the UNDP’s global presence in over 170 countries as well as its networks. Promising solutions could later be considered for further engagement as part of UNDP’s Insurance and Risk Finance Facility or other UNDP initiatives, too.

How to join

Interested participants wishing to apply for the IICF can submit their application and supporting documents to irff.challenge@undp.org by November 27, 2023.

Eligible applicants must be insurance solution providers, such as insurers, intermediaries and aggregators, insurtechs, distribution channels, and other related private sector actors.

The applicants must also already have an established insurance product or solution that they would modify or adapt to reach SMES.

Some examples of modifications might mean either extending into new geographies, leveraging new distribution channels, or using technologies to scale access and experience.  

What they’re looking for

While the main attribute of the solution that the UNDP and Generali are looking for is that it builds SME resilience, the team will also be looking for:

• The introduction of innovative business models, technologies, ideas, or products that specifically focus on SME resilience in Malaysia.
• Demonstration of self-sustainability, achievable through sufficient scaling and increasing efficiency and impact.
• A distribution strategy that isn’t just simply selling insurance in isolation, but rather one that compliments other services provided and needed by SMEs.
• There demonstrable sustainable development goals (SDGs) present.
• The proposed project must have scale potential.
• Innovations should also include a focus on ensuring gender equity.

Submitted applications that meet the eligibility criteria and are complete will then be evaluated by a UNDP Evaluation Panel.

Here’s the breakdown of the evaluation criteria:

Percentage	Objective
40%	Proposed innovative solution which builds on an existing product or solution (introduction of a new idea that shows development approach and impact, project quality including intervention logic and feasibility, product or service to a target group) with consideration of risks
20%	Experience of management and development team in developing inclusive insurance products
10%	Potential for scale up, replication, and long-term sustainability (financial, environmental, social)
30%	Value for money and cost-effectiveness

Applications that score above 50% will be evaluated in full to be considered for awarding the project.

Rejected applicants will get a notice accompanied by a short explanation.

If you still have more questions about the IICF, there will be two sessions of Q&A sessions you can ask them at. The timings are:  

• October 31, 2023 at 3:30PM
• November 8, 2023 at 3:30PM

You can register to join the October 31 virtual session here and the November 8 one here.

Empowering SMEs

This IICF initiative is a part of Generali’s broader commitment to raise awareness and promote insurance as a key tool to drive financial inclusion among SMEs who are highly vulnerable to risks.

“SMEs account for about 97% of total businesses in Malaysia—they are not only the bedrock of the country’s economy, but also a priority to us at Generali,” said Fabrice Benard, the CEO of Generali Insurance Malaysia Berhad.

According to a press release, Generali has been working with UNDP to develop insurance and risk finance solutions globally since 2022.

Aside from the IICF, Generali and UNDP are also developing a loss prevention framework for SMEs to harness the power of data, awareness, and understanding of risks for businesses in vulnerable communities.

On top of these solutions, there will also be an Asian edition of Generali’s flagship SME EnterPRIZE project, which has already successfully been running in Europe over the past two years.

According to SME EnterPRIZE’s website, the project was designed to promote a culture of sustainability among SMEs with the goal of inspiring SMEs to develop sustainable business models, while rewarding the “best success stories”.

• Learn more about the Insurance Innovation Challenge Fund here.
• Read other articles we’ve written about insurtech here.

Featured Image Credit: Generali / PLM Interiors

[Written in partnership with ChargeSini, but the editorial team had full control over the content.]

From September 19 to 21, EVM Asia, an exhibition on electrified vehicles, mobility, manufacturing, and auto parts, was organised at the Malaysia International Trade and Exhibition Centre (MITEC), Kuala Lumpur.

There, ecosystem players such as electric vehicle (EV) manufacturers and charging point operators (CPOs) were present, making it an ideal spot to learn about all things EV.

While an event like this showcases how far the local EV industry has come, the fact of the matter is that a lot more is left to be done to accelerate the market.

For one, EV adoption continues to be something that requires work.  

Thus, while at EVM Asia 2023, we took the opportunity to chat with some industry leaders at the exhibition to understand how we can realistically increase EV adoption in Malaysia.  

We spoke to Muz Azham, the business development lead at ChargeSini, a homegrown all-in-one solution provider for EV charging, as well as Fahmi Mohd Noor, the manager of rydeEV, a brand under Oyika Green Technologies, a subsidiary of Yinson GreenTech.

rydeEV is introducing electric motorcycles to Malaysian markets this year, featuring battery swapping technology that’s been in neighbouring markets such as Cambodia and Indonesia since 2018.

Here are insights from the industry experts on how we can increase EV adoption in Malaysia.

1. Lowering the cost of EVs

Money makes the world go round, so one of the most obvious yet impactful ways to up the adoption of EVs is to lower the high cost of ownership.

When it comes to EV bikes in particular, one solution for reducing the price is by decoupling the vehicle with its batteries.

This is what RydeEV is doing. Instead of having the end user buy multiple batteries, they can instead opt for its battery swapping solution.

This sentiment is something that Muz of ChargeSini agrees with, stating that tax incentives can also help make EVs more affordable.

“From the automakers themselves, we need more entry-level EVs,” he added. “Something that is quite simple and basic for anyone to experience the starting line-up of EVs.”   

With a realistic and approachable price range, EVs will be able to shed the stereotype that they’re only for car enthusiasts or upper-class clients. In reality, EVs should be accessible to everyone as a daily driver.

As Fahmi pointed out during our conversation, electric motorcycles are considered a financially sound alternative in countries such as Indonesia, which RydeEV is also active in. However, in Malaysia where petrol is subsidised and thus more affordable, EVs are seen as more luxurious counterparts.  

2. Eliminating range anxiety by deploying more stations

When discussing the challenges of EV adoption, there’s always the “chicken or egg” conversation—should we focus on getting more EVs on the road or building more charging infrastructure first? Perhaps the right answer is “in tandem”, but that’s easier said than done.

In any case, it makes sense that a more connected network of charging infrastructure would ease range anxiety—a fear some EV owners have that their vehicle may not have sufficient energy to drive to the destination or the next EV charger.

Eliminating this fear will help those on the fence make a decision on whether or not to buy an EV.  

Thus, it’s important that CPOs such as ChargeSini continue to grow their network of charging stations. ChargeSini now has 96 locations, including one in Kota Kinabalu, Muz reported.

Range anxiety exists for not just electric cars but motorcycles too, which is why rydeEV aims to deploy more stations within a 20km radius of each other. For now, the team is focusing on the Klang Valley area and hopes to fulfil up to 100 places within the year.

On top of eliminating range anxiety, a more robust ecosystem of chargers also indirectly promotes EVs due to the stations’ visibility, Muz pointed out.

For example, as drivers see charging stations mushrooming across the nation, they may become curious about them and look into EVs, and eventually even come to own one.

3. Mitigating long charging times

Another thing that may put people off from buying EVs is the long charging time. Compared to pumping petrol, the two or three hours required to charge an EV battery can be a huge time sink.

Fahmi believes that rydeEV’s battery swapping solution overcomes this issue entirely, as riders won’t need to wait around to charge the battery. Instead, they can just swap their batteries at one of rydeEV’s locations.

Another way to mitigate long charging times is by offering stations at strategic and convenient locations such as around residential areas like in apartment complexes—something ChargeSini does.

While there’ll still be a wait time, at least it’s a more comfortable wait. As Muz said, easing EV adoption is an effort that must start at home.

4. Diversifying the branding of EVs

While one of the main pulls of EVs is their sustainability, the truth is that not everyone cares about saving the earth.

In order to appeal to the masses, the messaging behind EVs needs to go beyond their environmental friendliness.  

After all, like Muz pointed out, it’s the technology or aesthetics of EV brands such as Tesla that have been popularising them.

As mentioned earlier, the luxurious price points for EVs may not be conducive to upping the adoption either. So, it’s important that not only are there affordable options in the market, but the branding should follow suit as well to ensure mass appeal.

5. Standardised guidelines from industry regulators

Due to the newness of the EV industry, in the past few years, there have been many changing policies and guidelines for EVs, such as with charging points. 

Changing policies can be very costly for CPOs such as ChargeSini who would be expected to stay-up-date with all the policies. 

Thus, the standardisation of industry SOPs would help startups like ChargeSini have an easier time complying with them, which in turn will lead to more stations and more EVs on the road.

For one, Muz shared that BOMBA and KPKT (Ministry of Local Government Development) has recently confirmed and finalised the requirements and guidelines last week for electric vehicle charging bays, which will help make things easier for ChargeSini. 

6. Continually listening to the end users

Ultimately, while EVM Asia does bring together movers and shakers of the industry, it doesn’t cover everyone—especially the end users. 

Muz, who is an EV user himself, pointed out that there’s a big portion of stakeholders in the industry such as EV users whose issues may be overlooked or underrepresented in the bigger picture.

So, it’s important for companies to stay in the loop and understand pain points of consumers and provide relevant solutions, such that the friction to shift from petrol cars to EVs becomes lesser and lesser.  

• Learn more about ChargeSini here.
• Read other articles we’ve written about EVs here.

[Written in partnership with Secondlifeasia, but the editorial team had full control over the content.]

Chances are, you’ve broken at least one smart device once in your life. If you’re clumsy like me, this number would look more like thrice, or even four times.

As a clumsy person, I’ve dropped my fair share of phones over the years (amongst other foolish actions), resulting in repairs that have racked up hefty sums.

Because of the expensive nature of these mistakes, I’ve often been inclined to fix my phone via my own means (which, true story, actually resulted in needing more repairs, but I digress).

However, while using counterfeit or non-genuine parts might seem like a cost-saving solution, it can have significant long-term repercussions.  

That’s why Apple has taken a firm stance on using genuine parts for all device repairs and maintenance.

This is according to Secondlifeasia, an Independent Repair Provider (IRP) in Malaysia that sources from Apple.

Taking it seriously

With 28 years of experience in the business and telecommunications industries, Jerome Teh founded the business with a goal to “digitally disrupt and transform how Apple devices are repaired and serviced”, his LinkedIn page states.

More than just repairing phones, the ethos of the company is to reduce waste, promote sustainable consumption, and overall extend the lifespan of smart devices.

According to Jerome, the process to obtain the approval took about six months to complete, from application to certification.

But the process does not end there. Secondlifeasia’s technicians also have to attend specific training courses and complete their own respective certification at each level in order to be an IRP.

“We used the lockdown period during the pandemic to maximise our time to attend these courses online,” Jerome shared.

As an IRP, Secondlifeasia provides genuine parts for customers needing replacements of batteries, displays, cameras, and more.

The importance of working with an IRP is because non-IRP and unauthorised repair centres may use Original Equipment Manufacturer (OEM) parts. This will trigger the “Unknown Parts Detected” message on the user’s device.

In turn, this message can affect the device’s performance.

“Furthermore, the use of non-genuine parts can lead to potential hazards such as battery explosions or leaks, damaging the device and posing risks to users,” Jerome added.

If you need any further reason why you should only use genuine parts, it’s because non-genuine parts can negatively impact the resale value of your device.

“Apart from wanting a device to be as long-lasting in utility as possible, reselling of the devices is also important for perpetuating a circular economy,” Jerome said.

Faster service, longer warranty

Secondlifeasia aside, there are other brands providing the same service. This includes names like Machine, Switch, ITWorld, and MacCity.

In terms of pricing, Jerome claimed that they’re on par with other IRPs. However, what sets Secondlifeasia’s services apart is its longer warranty and speedier repairs.

Where others usually offer only a three-month warranty period, Secondlifeasia and Secondlifeasia Express offer a 12-month warranty period for battery and camera replacements as well as a 6-month warranty period for display replacements.

“Beyond the advantage of a longer warranty period, our customers also value us for our fast and efficient services,” Jerome pointed out. “Same-day repairs are imperative for those who rely on their iPhones for daily use.”

Knowing its importance, they remain committed to providing same-day repair services, taking only up to two hours.

To add an extra layer of protection, IRPs typically also offer protection plans, and the same goes for Secondlifeasia. Its Display Protection Plan aims to safeguard user devices from cracked screens and is available at all Secondlifeasia locations.

To tackle the e-waste problem, Secondlifeasia also runs a programme where customers can drop off their dead devices at its main office in SS2. For their efforts, they will receive a discount voucher.

“We will then recycle this e-waste and devices, part by part working with the appropriate partners.”

Educating the public

Even though it’s clear that using genuine parts is important, those in a pinch may still opt for cheaper alternatives.

To this, Jerome said, “There is a misconception that the general consumers prioritise prices as the major factor in decision-making. It is not simply based on prices but rather on lack of knowledge and information.”

He believes that most people think that the quality of counterfeit parts is exactly the same as genuine parts, which is why they opt for the cheaper option.

But counterfeit parts or OEMs carry higher risks of compromise in safety and quality, due to the lack of quality control.

This means users may have to constantly replace those parts due to malfunctions, which may end up costing more money or worse, cause damage to the devices or users themselves.

“If given the right information and knowledge on the subject, consumers will be more likely opt for genuine parts, desiring the best for the devices they have invested in,” Jerome said.  

However, spreading education and information is precisely the challenge.  

“On our part, we are still a startup, hence we use the best of our means to educate our customers and other users by communicating with them via social media or when they procure our services,” Jerome said.

“But on a larger scale, I think we need to collectively open the conversation about this subject and make it a fundamental knowledge for the public. The industry in its entirety, the media, the players, and other stakeholders have a role to play in educating the public.” 

Expanding its reach

Jerome reported that since Secondlife Asia began operations in January 2020, they have conducted close to 6,000 units in repairs for iPhones, iMacs, MacBooks, iPads, and Apple Watches.

This equates to roughly 480,000kg of carbon waste reduced simply by repairing and giving a second life to these devices, which otherwise would’ve been disposed.  

“By extending the lifespan of these devices, we are picking up momentum in contributing to a circular economy in the long run,” Jerome said.

For the rest of 2023, Secondlife Asia aims to expand its reach from the current 20 locations across Malaysia to 30 locations.

By 2024, they plan to up this number to 50 outlets nationwide.

There’s good news for non-iPhone users too, as Jerome revealed that the team is planning to build a specialised team to focus on particular Android device brands in the near future.

• Learn more about Secondlifeasia here.
• Read other articles we’ve written about Malaysian startups here.

[Written in partnership with Samadhi Retreats, but the editorial team had full control over the content.]

Samadhi Retreats’ annual Samadhi Carnival will be making its comeback on September 30, 2023, at Tamarind Springs in Ampang.

Regarded as a scenic food destination serving Indochinese cuisine, Tamarind Springs is a part of Samadhi Retreats’ vast portfolio that encompasses dining and hospitality brands.

From 7PM to 11PM on the day of the carnival, guests can expect to embark on a unique culinary experience, featuring a variety of wines and spirits from around the globe.

According to Natasya Falina, the head of marketing at Samadhi Retreats, the first such carnival happened nine years ago, and it started off as a Wine Fiesta event together with Straits Wine company in Singapore.

“But over the years it has evolved into something that’s more relevant with the current F&B scene with cocktail bar pop-ups and creative food presentations,” she said.

A gourmand’s heaven

Catering to the foodies, the carnival will have over 80 types of canapés from six different award-winning restaurants and retreats by Samadhi.

To go with the hors d’oeuvre, Samadhi Carnival has prepared more than 50 types of wines from around the world. Moreover, there’ll be bottomless Carlsberg beer, Somersby Cider, and Kronenbourg.

Samadhi Carnival has also teamed up with bars such as SOMA and Sanctuary 38, to create cocktails. Additionally, the carnival has exclusive partnerships with other local businesses including ice cream shop Minus 4 Degree, tuak brewer Sunborneo, and fermented tea brand Alocha Komcbucha.

While the food will be the star of the show, there will also be a variety of entertainment offerings. You can enjoy the show of contemporary Apsara dancers, or dance to the DJ’s beats yourself, get your fortune told through tarot reading, visit henna artists, and experience other traditional ethnic entertainment.

What’s included in the ticket

At RM250 per person, the ticket covers unlimited food, as well as the free flow of beer. Tickets also include four wine tastings, two cocktail tastings, and a complimentary ice cream per person.

Those visiting in a party of nine or more or more can get a discount of RM230 per person.

Natasya shared that Samadhi Carnival welcomed 360 guests last year, and plans to up that to 400 guests this year.

“We’re back with more spirits to offer basically,” Natasya said in regard to how the carnival has changed this year.

“In the previous years, we invited two cocktail bars but these were not included in the package. But this year guests will get to try two full-sized cocktails, four glasses of wines (versus three glasses last year) and some really creative ice cream creations from Minus 4 Degree.”

Tickets can be purchased online from now until September 29, 2023.

• Learn more about Samadhi Carnival here.
• Read other articles we’ve written about F&B businesses here.

Featured Image Credit: Samadhi Retreats

[Written in partnership with ChargeSini, but the editorial team had full control over the content.]

As a local business in the electric vehicle (EV) industry, ChargeSini appears to inherently be a sustainable company. After all, EVs are regarded as eco-friendlier compared to gas vehicles, since they emit less carbon emissions.

With that in mind, you might think that a company providing EV charging stations like ChargeSini wouldn’t have to really put in much effort to be considered an environmental, social, and governance (ESG)-compliant company.

Well, you’d be wrong. As elaborated in our explainer article, ESG is actually a framework used when assessing an organisation’s practices and performances regarding not just sustainability, but also ethical factors.

To understand how an eco-friendly company might tackle “S” and “G” factors, we asked ChargeSini what it does to fulfil the social and governance criteria. 

Closing the gender gap

As ESG’s social pillar is all about how human-to-human relationships within a company are managed, practices that fall under this include fair pay, a safe and healthy workplace, as well as equal employment opportunity.

“Let’s think about the automotive industry,” the ChargeSini team brought up. “When you think of an automobile mechanic, what gender first comes to mind?”

According to research by Deloitte in 2020, women comprise only a quarter of the automotive industry’s workforce.

While the report uses statistics from the US, the gender gap exists in Malaysia too. Local startup Carsome reported in August 2022 that their female colleagues contribute close to 30% of its workforce, compared to 20% of the industry.

This disparity is something ChargeSini has recognised.

“One recurring concern we’ve heard from a specific segment of society, namely women, is why they have to interact with 10 men from the salesmen to mechanics and the operation team,” the team shared with Vulcan Post. “Are there no women who are interested in working in the auto-mechanics field?”

A look at ChargeSini’s workforce would show that this is not true. That said, ChargeSini has fully closed the gender gap as of yet, with its workforce comprising 18 women out of 50 employees, which is 36% of its staff.

According to the team, ChargeSini has been actively making a shift in this predominantly male industry to be a more inclusive and supportive environment.

This includes providing equal access to training, development, and leadership opportunities for women within the organisation. The team also aims to foster a culture of respect and inclusion where everyone feels valued and heard.

Another key factor under the social pillar is community engagement—something ChargeSini does on a daily basis by working with city councils such as Majlis Bandaraya Kuantan and Majlis Bandaraya Ipoh to develop EV infrastructure.

Being accountable in the bigger picture

In general, to ensure ESG practices are actually being implemented, strong commitment from a firm’s leaders is needed.

The governance aspect in particular looks at these leaders and how they’re managing the company. A company’s governance refers to its internal system of practices, controls, and procedures. 

Ethical business practices are also fundamental when it comes to this. 

Holding itself accountable, ChargeSini has made the effort to not only attain relevant certifications from MyHIJAU, Malaysia’s green recognition scheme, but also post the certificates on its website.

While this may also relate to the environmental pillar in ESG, the governance element is showcased through the startup’s commitment to being transparent with its stakeholders. 

Bringing an EV-olution

Of course, to truly be ESG-compliant requires continual efforts and commitment to these practices, not just a one-and-done thing.

For businesses that may be wondering why they should invest time and energy to pursue efforts under the social and governance pillar, it’s simply because these things create value for the company too. 

According to McKinsey, the social criteria can help build and foster the reputation of your business with people and institutions in the communities where you do business. 

And governance is essential to ensure regulatory and legal compliance. Keeping a continual eye on governance-related issues could help reduce interventions and regulatory pressure.

As ChargeSini shared with Vulcan Post, “[These practices] not only generate income but also address socio-economic issues such as poverty reduction, ultimately bolstering Malaysia’s economic prowess on a larger scale.” 

It is commendable to see how startups have been navigating ESG elements as it becomes increasingly important in our changing world.

While it may seem daunting to begin practicing ESG, there are many resources available. And as pointed out by startups we’ve spoken to that already practice ESG, it’s not an all-or-nothing endeavor—it’s okay to start small, one step at a time.

• Learn more about ChargeSini here.
• Read other articles we’ve written about Malaysian startups here.

Featured Image Credit: ChargeSini

[Written in partnership with Microsoft Malaysia, but the editorial team had full control over the content.]

“Data is one of your crown jewels.”

This is something that Abbas Kudrati, Microsoft’s APAC chief cybersecurity advisor, emphasised during an interview with Vulcan Post.

In today’s world, almost everyone is leaving behind some kind of digital footprint. With that comes an abundance of data, some of which are stored on your phone, on online platforms, or on the cloud.

And this data may be vulnerable.

“Hackers want to sell your data,” Abbas said. “It could be juicy information that you have, it could be customer information, it could be employee information.”

Over the years, cyber threats have become very advanced. For one, using social engineering attacks, hackers may exploit human behaviours and emotions to get what they want.  

An example of this is by phishing—sending emails impersonating reputable institutions such as banks, the police, or even Microsoft itself.   

“Hackers don’t differentiate whether you are a small company with five employees or 50,000 employees. For them, you are just one target.”

Thus, here are some lessons entrepreneurs of SMEs and beyond should keep in mind to ensure they are as resilient to cyber attacks as possible.

1. Have an assume breach mindset

As its name suggests, an assume breach mindset involves a more pessimistic approach whereby you assume cyber attacks will happen instead of assuming they might happen.

This shift in mindset makes for a more active defense system rather than a passive one. A result of having such a mindset typically involves layers of controls.  

This is so that if the first control fails, the second control will be enabled. Essentially, you assume that someone can and will overcome the first wall of protection.  

This mindset is the basis for many of the tips to come.

2. Create a human firewall

This means that employers need to educate their own staff members and ensure they are aware of how attackers may take advantage of human emotions.

This can be done so through security awareness programmes and other kinds of training.

3. Implement multi-factor authentication

While multifactor authentication has already become common practice for many, it never hurts to reiterate it again.

Of course, having a strong, alphanumeric password is the first step. But going one step beyond and implementing multi-factor authentication can better ensure identities, usernames, and passwords are secure.

Abbas mentioned three options of authentication: something you have (token or an authenticator app), something you know (password or a pin), and something you are (biometrics).

By applying two out of three of these options, you can establish a multi-factor authentication system.

“By using that, you will not be compromised, because the second-factor authentication is with you and not with the hackers or adversaries,” Abbas said.

4. Catch, match, patch

Another three-step system SMEs can keep in mind to protect themselves is something Abbas calls “catch, match, and patch”.

The catch portion involves finding the bad behaviour or identifying the adversaries. This can be done using good antivirus or antimalware solution, such as Microsoft Defender for Endpoint.

Matching is about assigning the right person to have access to the right data. That means you shouldn’t open up full rights or full access to everyone in the company.

“Make sure you have given access based on role, or need-to-know, need-to-do basis kind of principle,” Abbas advised.

Finally, all the systems in your patching environment must be up to date so hackers cannot exploit vulnerabilities.

5. Backup your information

While prevention is better than cure, it’s important to keep the assume breach mindset and prepare for scenarios whereby the hacker does make it past your security.

This involves preparing backups of critical information. This is so that if hackers ask for money, you have the leverage of saying no, as you can recover data from your backups.

You should also take note of resources and contacts you can reach out to should you undergo a cyber attack.

In Malaysia, there are also government organisations that can provide help, especially for SMEs. Abbas highlighted MyCERT (Malaysia Computer Emergency Response Team) as a useful resource.

Of course, businesses that can afford it can also engage with cyber-security specialists and agencies.

6. Ensure you can easily monitor your cyber security

“Because of the number of threats we are getting today, we have to act at the speed of an attack,” Abbas said.

To do this, you need a robust monitoring system that can identify threats and deal with attacks immediately.

Microsoft Security Copilot is one such solution.

Launched earlier this year, Microsoft Security Copilot is a security analysis tool that is powered by AI so that analysts can quickly respond to threats and effectively process signals at machine speed. This helps assess risk exposure in mere minutes.

The innovation is based on generative AI and large language models, Abbas shared.

Similar to how ChatGPT and other AI-powered chatbots function, Microsoft Security Copilot has a prompt bar where any user can type in simple questions and receive assistance from the programme.

This tool helps by consolidating all the necessary cyber security information into one accessible window, which also helps to reduce inspection time. The ease with which it can be used also means that it requires a smaller workforce for one task.

Microsoft Security Copilot is still in preview, though, and not available to the general public just yet. Those interested in announcements can sign up for updates from Microsoft.

100% cybersecurity is a myth

The idea of a completely failproof system might be daunting. On top of that, it’s also a myth. While you can never guarantee you’ll never be hacked, what you can do is be more cyber resilient.

Hence, it’s important to keep all these tips in mind even though you might not be facing any threats right now.

As Abbas said, “You may get hit today or tomorrow from cyber attacks, but how quickly you can recover out of that attack is what cyber resilience is all about.”

For more about what cyber resilience is all about, watch our reel with Abbas here:

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And watch Abbas talk more about how SMEs can protect themselves against cyber attacks here:

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• Learn more about Microsoft Security Copilot here.
• Read other articles we’ve written about Microsoft here.