Bilateral relations between Malaysia and Cambodia have enjoyed a fruitful relationship over the past couple of decades. Based on recent reports, Malaysia is said to be Cambodia’s third largest foreign investor in terms of fixed assets, with trade figures reaching $303.6 million in the first half of 2018 — a significant jump of over 45 per cent compared to the first half of 2017.
Throughout the years, Malaysia and Cambodia have mutually benefitted through the trading of resources essential to national development such as petroleum, chemicals, textiles, steel, and rice among others, with collaborations also extending to other areas.
Cross-border investments, information exchange, and skill-sharing have also become increasingly pronounced due to directives set by Cambodia to improve its digital and ICT ecosystem to keep pace with its robust economic growth, and by Malaysia’s keenness to expand its opportunities in foreign markets.
As Cambodia’s commercial infrastructure continues to solidify, both nations have observed even more potential for mutually beneficial collaboration. Increasing internet connectivity and speeds within the Kingdom are now allowing for quicker upskilling of talent and more precise operational processes, and strategic regional free-trade agreements are now facilitating quicker and friendlier international trade activity.
The prevailing Malaysia-Cambodia flourishing two-way ties is largely due to the relentless efforts of government agencies such as the Malaysia Digital Economy Corporation (MDEC), Malaysia External Trade Development Corporation (MATRADE), and Ministry of International Trade & Industry (MITI), which collaborate closely with their Cambodian counterparts, as well as the Malaysian embassy, which continues to help facilitate and ease bilateral proceedings-all resulting in an upswing in digital sectors for both nations.
Looking ahead, Malaysia wants to dedicate even more resources to both leverage and contribute to Cambodia’s vast economic potential. From 1994 to 2017, Malaysian investment in Cambodia was valued at $3.3 billion scattered among 130 registered projects, and today Malaysia is proud to see more of the same taking place, especially with the permeation of Industry 4.0 technologies such as 5G within the Cambodian landscape.
Currently, there is an overall sentiment among Malaysia’s digital and industrial development players that this ongoing relationship with Cambodia has plenty more to offer. As the Kingdom’s ongoing economic growth promises to attract even more investors and innovators, so does Malaysia also hope to devote more attention and maintain its status as a key economic partner.
The success of the following six companies (refer next page) in establishing themselves in the Cambodian market is only the latest validator of the above sentiment, and there is belief that both countries can gain even more invaluable skills, insights, and resources to help further their respective digital economies.
Learn more about the Malaysian corporations that are ready to share their talents with their Cambodian counterparts to build a robust bilateral relationship.
ABOUT MALAYSIA DIGITAL ECONOMY CORPORATION (MDEC)
Malaysia Digital Economy Corporation (MDEC) is the government agency under the Ministry of Communications and Multimedia Malaysia entrusted to lead the nation’s digital economy forward.
MDEC’s mandate includes driving digital adoption, development of industry ready tech talents, digital economy policies and global champions. To future proof Malaysia for the digital age, MDEC will leverage its proven track record, industry credibility and experienced leadership to connect, catalyse and commercialise digital initiatives to advance a thriving and sustainable digital economy placing diversity and inclusivity at its core.
To find out more about MDEC’s Digital Economy initiatives, please visit www.mdec.my or follow us on:
AETINS provides software solutions for insurance companies and Takaful operators. It offers Policy Administration System (PAS) to run enterprise-wide operations of Life Insurance and General Insurance. It also provides portals & mobile applications for selling and servicing online, for agents, banks, and partners of insurance companies.
Over the last 20 years of its operations, AETINS has implemented its solutions for multinational, local, and start-up insurance companies over 14 countries in the Asia Pacific, Middle East and Africa.
AETINS has been selling its solutions directly from Malaysia in the region, and most of the sales were due to word of mouth. With the Clients’ success in using AETINS solutions, AETINS started to expand its reach in various markets through carefully selected partners. Cambodia is among AETINS target markets because of its emerging insurance sector with many potential untapped areas. Through its hands-on experience in implementing insurance solutions for start-up insurance companies, AETINS can help Cambodian insurance companies to set up standard operating procedures and organize lean and mean resources to run the operations. In search of a reliable and dependable Partner in Cambodia, AETINS has found IG TECH, Cambodia’s fast-growing and forward-looking tech company, run by entrepreneurial, dedicated and committed professionals, and with rich experience in the successful implementation of financial industry solutions. Besides delivering quality, they aspire to help the business community grow and stay competitive not only in Cambodia but also in the region, which aligns with AETINS aspiration. Further, AETINS was pleased that IG TECH was also covering the Mekong region where they have people on the ground to work with prospects directly, overcoming the language barrier which is one of the major constraints. This synergy has led to the first successful project of AETINS ISF Life Insurance Solution for Forte Life Assurance Cambodia.
To commit its seriousness in helping to grow the Cambodian insurance industry, and the community at large, AETINS has established a Centre of Excellence (COE) through a joint venture with IG TECH, known as IG AETINS Asia Co. Ltd. With this initiative, it is working on a collaborative platform using technologies like block chain, artificial intelligence, big data, analytics, etc. to redefine personal financial management for people, including low-income people. This Savings, Investment and Protection(SIP) collaborative platform will help Cambodians to manage their personal finances prudently.
Your cutting-edge smart ID solutions starts with CALMS Technologies!
With experience for almost two decades, CALMS Technologies provides cost effective and innovative smart ID solutions to empower peoples’ life across multiple sectors.
We transform lengthy manual processes into system automation, eliminating leakages and improve security and safety with our smart ID solution.
Our mission is to provide users to save cost, time and efficiency with the benefits of hardware-independent model based on customization.
Offering both on site application as well as cloud-based platform, CALMS is also adaptive to latest technologies in pursuing competitive smart products inclusive of biometric (facial or fingerprint), license plat recognition and adoption of IOT, equipping clients towards digital transformation of Industry 4.0.
Some of the key products at CALMS inclusive of Smart ID Issuance (CALMSe), Visitor Management System (ViMS), Time Attendance Management (TAMS), Cashless Wallet (ePuRS), Bus Attendance and Tracking System (BATS) and more.
CTAPPS is incorporated in 1998 and with focus in providing cost-effective value-added telephony solutions which were internally designed and developed for telecommunication companies to engage and retain their subscribers based. Service provided are integrated IVR, SMS, USSD, Video and Web applications which is closely connected to the telecommunication companies backend system.
From year 2003 onwards, CTAPPS had also extended its solutions to banks, government, enterprises and also airline. Solutions included Call Center Automation, Call Accounting System, Integrated Emergency Response System, Digital Messaging Broadcast System, as well as Credit Management and Collection System, also customized communication solutions.
Today the provided solution had been extended to countries like Myanmar, Vietnam and Cambodia and recently to Bangladesh and soon Nepal.
CTAPPS obtained MSC status in 2005 and in 2009, CTAPPS MSC is awarded MGS Grant for its Video Streaming with DBA solution which is now deployed to Cambodia. Along with that, CTAPPS now has more than 10 telco value added services in IVR, web and mobile apps based been provided as a revenue share service with the three main telecommunications companies.
Solution provided by CTAPPS are made easily available to its customers or partners through cost effective outright sale pricing or by easy payment instalments or even via revenue share model.
CTAPPS is in its 21st year now in this industry and had been evolving its solution offerings to adapt with technology advancement and also with collaborating with value partners locally and internationally for its offerings. CTAPPS had and is continuously investing in developing its own integrated telephony and the solutions.
Forest Interactive is a global tech company established in 2006. In line with the ecosystem of technology, its mission is to help bridge the gap between mobile subscribers, operators, and content providers by offering operator-driven platforms and solutions that help maximize revenue. It has an established partnership with 93 mobile operators worldwide, servicing two billion subscribers across 35 different countries. The company headquarters is located in Kuala Lumpur, Malaysia with 11 regional offices in Southeast Asia, LATAM, Silicon Valley and the Middle East.
The company’s main revenue comes from operating highly-customizable platforms for Mobile Network Operators (MNO) with 24 hours in 7 days of customer support for Service Delivery Platforms (SDP), Mobile Games Publishing, eVouchers, and quite recently in Mobile eSports in partnership with Moonton.
The rapid growth of Forest Interactive makes it a member of the Global Acceleration Innovation Network (GAIN) a group of tech companies which has been recognized to scale globally by Malaysia Digital Economy Corporation (MDEC). In 2017, Forest Interactive was invited as a GSMA Associate Member—a trade body that represents the interests of mobile network operators worldwide. Approximately 800 mobile operators are full GSMA members and a further 300 companies in the broader mobile ecosystem are associate members.
Forest Interactive recognizes the growth of the Cambodian digital sector and is set to open a country office by the last quarter of this year. Cambodia is a fast-growing, developing nation with its fast adoption 4G technology matching other developed countries. The company also sees its local talent to be promising given the opportunities that arise along with its infrastructure and policy developments.
Securemetric Berhad and its subsidiaries (“Securemetric”) offer digital security solutions across Southeast Asia, namely Malaysia, Vietnam, the Philippines, Indonesia, Cambodia, and Singapore. Armed with in-house expertise in the areas of software licensing protection dongles, two-factor authentication (“2FA”), Public Key Infrastructure (“PKI”), the centralized authentication management system (“CENTAGATE®”) and electronic identification products. Clients include government organizations, financial institutions, public certification authorities, software development companies and IT service providers.
As one of the regional players from Malaysia, Securemetric offers digital security solutions in a market that has traditionally been dominated by a few key multinational players.
Securemetric has identified the importance of localizing both its services and solutions.
The ability to provide such customized solutions that fit clients’ needs and regulatory frameworks have differentiated Securemetric from other players.
Over the past decade, the SecureMetric brand name has been steadily growing and gaining respect in their respective domain of expertise just as their team has been growing. From 10 staff in 2007, SecureMetric has expanded across Asia in countries such as Singapore, Indonesia, Vietnam, Cambodia, and the Philippines to build a strong regional workforce of more than 120 employees.
As a company, we are:
1. The leading ASEAN Software Licensing Protection provider, serving more than 1,000 software developers regionally
2. The leading PKI Solution Provider in the Asian market, with a proven track record of many mission-critical PKI projects internationally (past PKI projects include Philippines National PKI, Cheque Truncation PKI for Philippines Clearing House, Vietnam Government PKI as well as many enterprise PKI for banks and enterprises such as Lazada and Bank of Philippines Island)
3. Mobile Security protects from cyberattacks on Mobile applications.
TESS International is a leading regional Financial Crime Solutions provider, specialising in Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF), Financial Fraud Detection, Trade-Based Money Laundering (TBML), Compliance Matrix and FATCA. Working with the latest cutting-edge technology coupled with impeccable customer service, our organization has culminated over a decade’s worth of experience of implementing practical and tech savvy solutions across a multitude of financial institutions - and we’re just getting started. “Re-Inventing Banking Through Innovation” – the tagline used by TESS and this is where our experience in IT within the banking industry matters! TESS is the exclusive developer of CORAL™ Suite of Financial Solutions, where all the solutions are designed “By Bankers, For Bankers” equipped with excellent R&D Capabilities and Right Domain Knowledge.
Getting into the Cambodian market was a massive challenge but having a great partner like Idealink Consulting allowed TESS to express itself in its most natural form and to provide the best service available but also a market leading solution to assist all Financial Institutions (FI) in Cambodia. This partnership is reaping such huge rewards between the organizations but more importantly in helping Cambodia meet global regulatory standards in the Banking sector for now. The listing of Cambodia in the Grey List by international regulators Financial Action Task Force (FATF) has heaped more mounting pressure on the National Bank of Cambodia (NBC) to ensure that all reporting institutions begin to comply with regulatory expectations.
This allowed both TESS and Idealink Consulting to seize the chance to build and create awareness amongst the local FI’s on the global practices and expectations to allow them to be compliant and meet all pre-set standards locally and globally. TESS is working endlessly in Cambodia to raise the level of Compliance in the country through forums, workshops and via our solution and we are determined to help NBC to raise the bar for FI’s to allow Cambodia to soar and have its Grey Listing lifted soon.