MGBF Report identifies 7 technology companies at the cutting edge of shared prosperity vision
KUALA LUMPUR, Malaysia, Feb. 6, 2020 /PRNewswire/ -- In 2019 the Prime Minister, Tun Dr Mahathir Mohamad launched Shared Prosperity Vision 2030 as an effort to make Malaysia a country that is developing sustainably with fair economic distribution as well as equitable growth at all levels of incomes, ethnics, regions and supply chains by 2030
The Shared Prosperity Vision 2030 which is the primary strategic policy document that will guide the restructuring priorities for Malaysia's development was used as a baseline to identify the technology companies at the cutting edge of empowering or delivering shared prosperity in Malaysia. To make the list, companies needed to demonstrate that they were able to participate in a meaningful manner towards the shared prosperity vision enablers, namely effective institutional delivery, financial capital, governance & integrity especially related to increasing transparency, and lastly was the use of Big Data.
Coupled with a positive contribution to the Key Economic Growth Activities (KEGA) of digital economy, industrial revolution 4.0, advanced & modern services together with a history of innovation and delivering e-government projects that have had a direct impact on the community or business ecosystem.
Identifying homegrown leadership has become increasingly important as according to Malaysian government, data technology adoption still remains low in the services industry with a rate of uses of just 20% in 2018 while the government's target is 30% by 2030.
This year's list has highlighted those companies best positioned to drive this vision from the private sector.
Big Dataworks is a Malaysian grown tech company providing solutions in data supply, data analytics, management of information and physical documents storage. The innovative approach to data driven business solutions has made it possible to manage a nationwide user base of over 200,000. The nimble solution provider has delivered higher productivity, better value for consumers, and the next wave of growth in the business through big data solutions to a wide range of stakeholders. The ability delivering directly with to the public, government, government linked corporations and the private sector has ensured that Big Dataworks makes this year's list.
The company has a strong track record of "eco-system changing" delivery to government that is "a positive disrupter" appointed by the Companies Commission of Malaysia (CCM) or Suruhanjaya Syarikat Malaysia (SSM) as its technology and service provider for the SSM MYDATA Services. MYDATA has become the go to source for legitimate and legal information on companies incorporated or registered in Malaysia.
MYEG Services Berhad or MYEG builds, operates and owns the electronic channels that deliver services from various Government agencies, including DBKL, Jabatan Insolvency Malaysia, Jabatan Pengangkutan Jalan, Polis Diraja Malaysia, Tenaga Nasional Berhad and Telekom Malaysia to Malaysia citizens and businesses.
Its first wave of solutions was deployed between 2000 to 2010 for the Government to Citizen ("G2C") and Government/Enterprise Solution ("GES") categories. They make the list because over the past 5 years MYEG has invested in deploying next generation technologies based on The Internet of Things ("IoT") solutions coupled with big data analytics that will bring significant improvements to overall quality of life in Malaysia.
Commerce Dot Com Sdn. Bhd. Established in 1999, Commerce Dot Com Sdn Bhd (CDC) was incorporated for the fundamental purpose to develop and operate an electronic procurement system for the Government of Malaysia, known as ePerolehan. This initiative was undertaken with the intention to steer the nation's commerce into the forefront of the digital economy.
Currently CDC boasts ePerolehan as one of the largest Government-to-Business (G2B) marketplace in the world with more than 30,000 government users and 180,000 suppliers throughout Malaysia and over 2 million catalogue items available online. Procurement via ePerolehan has grown tremendously to over 2 million transactions valued at more than RM20 billion annually.
POS Digicert made the list due to its ability to deliver the latest convergence of services, the public will no longer be required to go to SSM offices to obtain documents with "Certified True Copy" (CTC) stamp. The collaboration between Big Dataworks, SSM and POS Digicert has allowed digitally certified documents to be purchased online via MYDATA SSM portal by consumers. Government agencies, the likes of Immigration, Road Transport (JPJ) and Municipal Councils have implemented the use of these documents for official submissions. Digital CTC is a transformation of the manual document authentication service through a combination of statutory imaging technology, digital signature and Quick Response Code (QR code) with security features.
Censof Holdings Bhd established in 2008 as a technology investment holdings company specializing in financial management software solutions. Since then, Censof has expanded its portfolio of financial services solutions to include e-payment gateway services and wealth management software solutions. Censof acquired a major accounting solution business that caters to SME business market. Through its subsidiaries, the technology solutions are widely used in public and private sectors in Malaysia, Singapore, Indonesia and Hong Kong. In January 2011, the Group was listed on the Main Market of Bursa Malaysia.
TM One made the list as connectivity and security is a core element of a trust based digital economy. TM ONE is positioned as the only enabler of a Hyperconnected Ecosystem for business's digital journey. As the enterprise and public sector business solutions arm of Telekom Malaysia Berhad (TM) Group the people driven organisation delivers seamless and complete digital solutions, processes and state-of-the-art technology. With the mission to fully transforming Malaysia into a digital nation in line with TM's philosophy of "Life Made Easier" for a better Malaysia.
Malaysia Digital Economy Corporation Sdn. Bhd., or MDEC, was established in 1996. It was the Government's response to the then new concept of "Digital Economy". Today, the global Digital Economy is estimated to be worth USD 3 trillion, and MDEC continues its role to organise and lead Malaysia's Digital Economy forward. It's on the list as a key ecosystem enabler. MDEC has driven significant digital transformation and adoption across the public and private sectors in Malaysia since its establishment, including the formulation of policies and coordination of agencies. The development of a futureproof workforce to grow the Digital Economy ecosystem and the creation of global champions to increase contribution from the Digital Economy to GDP.
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