Page 11 - KLSCCCI MAY 2022 - eBullentin 406

本期焦点

SME Market
Malaysia’s largest population
category is the youth segment, The GDP for Malaysia's SMEs grew at 5.8% as at 2019, a higher growth
aged between 15-29 years old, than the country's GDP of 4.3%. More than 90% of SMEs are small and
which is a group that is mostly micro enterprises with only 26% of funding for SMEs with less than 5 years
tech-savvy, trusted and of establishment being from bank loans or financing. A large portion of
reputable tech giants. funding is still coming from own cash and retained earnings that limit the
businesses potential growth.

10% 10%
10
9% 9%
8% 8% 8% 8%
8
6%
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5% 5%
4% 4%
4
3%
2%
2
1% 1%
0%
0
0 - 5 - 10 15 20 25 30 35 40 45 50 55 60 65 70 75 80 85+ Source: DOSM, Population estimates
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4 9 14 19 24 29 34 39 44 49 54 59 64 69 74 79 84 as at 2Q 2020 by age group.
After a month of delay, Bank Negara Malaysia (BNM) finally announced the list of successful applicants.
The framework which was first issued on 30th December 2020, was hotly contested and attracted 29 parties to
bid for the licenses.
Bank Negara said all 29 applications received were thoroughly assessed pursuant to section 10 (1) of FSA, and
IFSA, which required BNM to consider all the factors in Schedule 5 of the Acts and other relevant policy requirements.
Following this announcement, the successful applicants will undergo a period of operational readiness that will
be validated by BNM through an audit before they can commence operations. This process may take between 12
to 24 months.
Five successful applicants for the digital bank licences
Under the Financial Services Act 2013 (FSA) Under the Islamic Financial
Services Act 2013 (IFSA)
A consortium of Boost Holdings Sdn Bhd and RHB Bank Bhd.
Led by Axiata with its subsidiary Boost Holdings owning 60% and RHB
owning 40% of the digital banking consortium. A consortium of AEON Financial
Boost is best known for their e-wallet and the micro-lending services Service Co Ltd, AEON Credit Service
Boost Credit, which was formerly known as Aspirasi. (M) Bhd and MoneyLion Inc.
AEON Group has been involved in
various business and economic
segments over time, AEON Credit is a
non-bank financial services provider for
A consortium led by GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd. the past 25 years..
Registered in Singapore, GXS is jointly owned by Grab and Singtel, A Malaysian founded, MoneyLion is a
while Kuok Brothers is a Malaysian conglomerate with business digital platform delivering mobile
interest spanning across multiple industries. The Grab-Singtel banking to middle-class Americans.
consortium has already secured its digital banking licence in
Singapore.

A consortium led by
A consortium led by Sea Ltd and YTL Digital Capital Sdn Bhd. KAF Investment Bank Sdn Bhd (KAF IB).
In 2021, Sea Group acquired Indonesia’s Bank BKE with the goal of Led by KAF Investment Bank, this
transforming it into a digital bank, it has since rebranded to Sea Bank. consortium consists of well-known
In Malaysia, its fintech businesses include its e-wallet ShopeePay and Malaysian.
its BNPL services named SPaylater. Meanwhile, YTL Berhad, is a MoneyMatch is a locally built fintech
Malaysian conglomerate with business interests spanning across focusing on cross-border payments with
hospitality, property, technology, and more. business interests in Malaysia, Australia,
Sea Group has already secured a digital banking license in and Brunei. Jirnexu is best known for their
Singapore. comparison site RinggitPlus.
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