Nicholas Aaron Khoo

KUALA LUMPUR (July 27) In a move to bolster Malaysia’s technology ecosystem, ViTrox Corp Bhd’s (KL:VITROX) co-founders are partnering with private equity firm Southern Capital Group to create a venture capital fund. Dubbed the Cambrian Fund, it aims to support local tech startups and nurture a robust tech ecosystem in Malaysia. The fund will focus on the Industrial 4.0 themes, including vision artificial intelligence and robotics. It aims to invest in early-stage tech companies whose founders have the right mindset, compelling vision, and exceptional execution capabilities necessary to achieve market leadership and success in a dynamic and competitive global environment. The fund intends to cast a wider net to attract other industry leaders and key stakeholders into the fund's ecosystem. The fund, which will be launched in October this year, is targeting to raise RM150 million, of which RM60 million is to be secured from ViTrox founders and Southern Capital. ViTrox's founders are Chu Jenn Weng, Steven Siaw Kok Tiong, and Yeoh Shih Hoong. Speaking at a pre-launch of the Cambrian Fund, Chu said Malaysia has the potential to become the Silicon Vallley of the East. He emphasised that achieving this vision requires industry players to contribute their knowledge and expertise, as well as increased investment from those who share the goal of strengthening the local tech ecosystem. “Southeast Asia is poised for significant growth and we see unique opportunities to foster local tech companies and create global champions. Our initiative aligns with the National Semiconductor Strategy, which aims to cultivate a dynamic ecosystem and establish at least 10 Malaysian tech companies with over RM1 billion in revenue,” said Chu, who is also president, managing director and chief executive officer of ViTrox. Chu is the largest shareholder in Penang-based ViTrox with a 26.44% stake. The group produces machinery and equipment designed to automate the rigorous testing of semiconductor devices. He highlighted that Penang is an excellent destination that boasts strong infrastructure, a highly educated and motivated workforce, and successful companies founded by entrepreneurs, which create significant investment opportunities. “Permanent dislocations in global supply chains due to geopolitical changes have led to tremendous prospects for local operators and entrepreneurs to achieve massive growth, but this requires networks, knowledge and capital. "Southern Capital is excited to have the founders of Vitrox as limited partners and allies in this transformative venture. We share the same values and vision, aiming to leverage our collective experience and knowledge to help others achieve significant returns and growth,” Tan added.

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24 Jul 2024: Thanks to Bernard Tan hosting CTM360®CEO Mirza Asrar Baig for a webinar currently happening! ISACA Singapore Chapter members to dial in now if you are eating at your desks... interesting views. I like Mirza's view about Fintech vs Techfin! This concept was adopted much earlier by #alibaba and #taobao more than a decade ago...is now being paid attention by the developing countries. And in today's context, you cannot #transform without #cybersecurity! And I like Arsalan Iqbal's quote about "making complex things simple!" #leadership #riskmanagement Webinar now at https://lnkd.in/gWiG_JBX

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Ultimate Guide to Starting & Running a Business in Singapore In this omnibus document, I discuss legal & regulatory aspects a founder would typically encounter in starting and running a business. More than just legal info, I share practical guidance and insights from experience. Our team has helped clients from start-up founders to CEOs and Board Directors of listed companies navigate complex legal terrain, deals, and disputes. We’ve worked with businesses from many sectors, including fintech, media and entertainment, manufacturing, oil & gas, financial services, and food & beverage (F&B). I also cover legal documents, contracts, and agreements which a business can expect to encounter through its lifecycle from founding to growth stages. Read more in the PDF below. Also available on our website: https://lnkd.in/gDXEzmBw #UltimateBusinessGuide #Corporate #Commercial #StartUps #NewVentures #SMEs #Entrepreneurship

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Andrea Phua SENIOR DIRECTOR, NATIONAL AI GROUP; DIRECTOR, DIGITAL ECONOMY OFFICE Ministry of Digital Development and Information, Singapore AI FOR THE REST OF US: STRATEGIES FOR SMALL AND MEDIUM-SIZED ECONOMIES If the US and China are the dominant "superpowers" in the age of AI,what are the implications and strategic options for the rest of the world? Are small and medium-sized economies doomed to become client states of the two AI giants? Will advances in AI polarize the world into Cold War-style "digital power blocs"? Or are there things small and medium-sized economies can do to maximize their digital independence and data sovereignty? Singapore offers one model. But does every nation need an AI strategy? How might such strategies differ? What approaches are other nations or regions adopting? Ellie Austin DEPUTY EDITORIAL DIRECTOR, FORTUNE LIVE MEDIA Fortune #FortuneBrainstormAI #AI

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Learn how to finance your lifestyle and build wealth at the same time!

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Sirene Lim 林美莹's article on the benefits of play, even for adults, sums up the importance to promote 'playfulness' in Singapore beginning with our children. There is a consensus that Singapore's strength lies in its ability to organise and execute. Perhaps, it is time to set up an inter-ministry taskforce on Play to promote interdisciplinary research on play, to push for changes to polices in health, education and even workplace to incorporate playfulness, and to designate a National Play Month! https://lnkd.in/gvJ7EWbV

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Fostering innovation in government requires shift in mindset, engagement beyond core groups In this interview with GovMedia and as a judge at the GovMedia Conference & Awards 2024, I share my insights on how governments can navigate the nuances of digital transformation within public sector frameworks, including how to identify risks and opportunities, especially with the intersection of technology, innovation, and public policy. Read the full interview here: https://lnkd.in/dkxYtq7A #digitaltransformation #KPMG #KPMGSingapore #transformation #digital #innovation Jonathan Ho Anton Ruddenklau Sharad Somani VC John Jeanie Lee Adeline Tan

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