Tag: Southeast Asia

Singapore — InMobi, an established provider of content, marketing, and monetization tech that help businesses fuel growth, has announced the expansion of its partnership with Microsoft Advertising to support enterprise and strategic advertisers in Southeast Asia (SEA).

Via the partnership’s expansion into SEA, InMobi will offer marketers an integrated solution to power their campaigns built on the search and native display capabilities of Microsoft Advertising and the mobile ad tech capability of InMobi’s advertising platforms.

InMobi and Microsoft have been in a strategic partnership since July 2018 to help enterprises accelerate their digital transformation by providing them with insights, audience, and engagement platforms for a connected world. The partnership was expanded in 2019 as InMobi added the Microsoft Advertising products and solutions to its offerings in India.

Nick Seckold, VP of Microsoft Advertising APAC, said, “Over the last 2.5 years InMobi has done a wonderful job establishing Microsoft Advertising’s Indian footprint while doubling revenue over the same period. InMobi’s successful track record in India has led Microsoft Advertising to extend its coverage across SEA where they will be tasked with building close relationships with advertisers and agencies to grow the business in the region.”

As part of the expansion, Rohit Dosi, GM of the Microsoft Advertising business at InMobi, will take up additional responsibilities for growing the Microsoft Advertising business across the SEA market and leading the global relationship with Microsoft.

“The extended partnership between Microsoft Advertising and InMobi will enable marketers to deliver a unified brand experience to customers by bringing together the best of search and native display platforms across both organizations,” Dosi shared.

InMobi will be responsible for the sales, account management, marketing, finance, collection, and billing for Microsoft Advertising customers managed by InMobi, in India and SEA, from now onwards. The direct billing with InMobi is intended to enable a seamless and hassle-free experience for advertisers, from InMobi, as they leverage its services.

Meanwhile, commenting on the effect InMobi and Microsoft Advertising has done on their brand, Ankit Maheshwari, VP of marketing at Angara, an online diamond and gemstone jeweller, said, “The InMobi team is pivotal to the success that Angara witnesses with Microsoft Advertising. Their proactive approach has time and again enhanced campaign efficiency, driven innovation, and delivered healthy returns for the brand.”

Jakarta, Indonesia – IDN Media, the media platform for Millennials and Gen Z in Indonesia, has secured a Series-D investment led by Mayapada Group and KMIF, with participation from East Ventures, OCBC NISP Ventura, and Dentsu Group, as well as V Media Ventures. 

IDN Media aims to democratise information for all Indonesians, especially Millennials and Gen Z. With a comprehensive and end-to-end ecosystem, it operates four major business verticals, namely content platform, digital media, commercial, and entertainment. 

The newly secured investment will not only allow IDN Media to accelerate the growth of its users through the super-app and ecosystem strategy, but also advance its technology, strengthen the teams, and execute strategic partnerships and acquisitions. 

Winston Utomo, IDN Media’s founder and CEO, shared that while this Series-D investment is an important milestone in their journey, the mission to democratise information for all Indonesians is always a work in progress. 

“We will keep working very hard to become a 100+ years old sustainable and healthy company that brings positive impacts on society. One step at a time, for a better Indonesia,” said Utomo.

Meanwhile, William Utomo, IDN Media’s founder and COO, noted “The next eight years will be very different from the past 8 years. After the Series-D investment has been secured, we have prepared several strategic initiatives to be executed as soon as possible. This will be a very exciting new era for IDN Media.”

Dato’ Sri Prof. Dr. Tahir, Mayapada Group’s founder and chairman, said, “We deeply believe in the vision of brothers Winston Utomo and William Utomo. They are young, ambitious, and hardworking individuals who have a dream of making a difference in the future of Indonesia. Mayapada Group is very excited to partner with IDN Media to bring Indonesia to greater heights.”

Kuala Lumpur, Malaysia – Alliance Bank Malaysia has launched its latest digital solution, Digital SME, which aims to help SMEs manage and grow their business faster by leveraging the bank’s suite of innovative digital solutions.

The Digital SME loan offers up to RM500,000 collateral-free financing via a simple online process that only requires submission of the company’s six-month bank statement. To facilitate the application process, the Digital SME loan application is available in three languages, namely English, Bahasa Malaysia, and Mandarin. The bank also provides advice to SMEs on how to establish credit history and improve their credit profile.

Kevin Shum, Alliance Bank’s SVP and head of Digital SME, noted that they know that micro-enterprises may face issues obtaining financing due to their limited credit history, so they wanted to help them build their credit history by starting them with a small credit line, and subsequently help them expand by providing them quick access to financing via Digital SME once they are ready. He further shared that this financial year, they aim to provide up to RM200 million in digital SME loans.

“We want to enable our business customers to remotely open a digital business current account anytime, anywhere. The digital business account will comprise several innovative features, including a small overdraft line and business credit or debit card to help business owners manage their expenses more efficiently,” said Shum.

In addition to financing, Digital SME also offers financial advice on managing the business more efficiently. Aaron Sum, Alliance Bank’s group chief strategy of marketing and business development officer, stated, “Micro and small businesses face their own unique challenges while running their business, such as limited access to operational resources and recruiting talent. Through our BizSmart Solution portal, businesses can access relevant products and services such as digital marketing, logistics, accounting and data analytics at better rates to help them grow and run their business efficiently.”

BizSmart Solution portal is a one-stop online business community portal with over 200 partners, enabling business owners to reach out to new customers and access a wide range of business solutions at preferential rates.

The Digital SME financing is applicable to businesses that have been in operation for at least a year and with an annual turnover between RM50,000 and RM30 million.

Singapore – ANEXT Bank, a digital wholesale bank in Singapore under Ant Group, has announced its soft launch. This follows its receipt of the Monetary Authority of Singapore’s (MAS) approval to commence business on 2 June 2022. 

The new digital bank will focus on providing digital financial services to local and regional MSMEs, especially those engaging in cross-border operations for growth and global expansion.

Toh Su Mei, ANEXT Bank’s CEO, believes that it’s time to offer the next generation of financial services that are accessible and effortless for growing businesses, and financial services have to evolve and be where SMEs are doing their businesses digitally.

“We are well-positioned to live up to this vision, leveraging Ant Group’s deep bench of technologies and know-how, along with our customer-obsessed local team dedicated to serving the SME community. Adopting an open and collaborative approach, we believe in joining hands with industry partners and the public sector to provide SMEs with financial services that are simpler, safer and more rewarding,” she said

Meanwhile, Sopnendu Mohanty, chief fintech officer at MAS, said that this marks yet another milestone in Singapore’s digital bank development journey, a strategic effort to ensure the banking sector remains progressive, globally competitive and vibrant. 

“MAS expects the digital banks to thrive and synergise with our dynamic financial institutions and raise the bar in delivering quality financial services and uplift Singapore’s financial sector to better support the growth of SMEs in Singapore, the region and in emerging markets,” added Mohanty.

ANEXT Bank has also signed a two-year MoU with Proxtera – the entity supported by MAS, the Infocomm Media Development Authority (IMDA) and private sector entities, to transform and enable holistic cross-border trade amongst SMEs and businesses by making marketplaces efficient and discoverable globally, with embedded financing, fulfilment services, and SME empowerment.

The MoU will see both organisations jointly create and establish an open framework for all participating financial institutions as they provide financing and risk mitigation support for SMEs and platforms in global trades. ANEXT Bank will also be Proxtera’s first participating digital wholesale bank in Singapore to lead the way in providing financing solutions to the buyers and sellers on Proxtera’s network.

Saurav Bhattacharyya, Proxtera’s CEO, shared that their commitment is to simplify global trade for SMEs and uplift them with the power of networks, leveraging modern technology to improve discoverability, accessibility, availability, and affordability of innovative digital services. 

“This mission is closely aligned with ANEXT Bank’s focus to serve SMEs engaging in cross-border operations. Together with ANEXT Bank’s digital-born identity and digital-first capabilities and services, I’m confident that we can make trade easier, more seamless and efficient for SMEs,” said Bhattacharyya.

As part of its soft launch, ANEXT Bank has provided a preview of the ANEXT Business Account, a dual-currency deposit account with proprietary security measures including three-factor authentication verification, as well as features, such as remote onboarding and daily interest. 

The bank is also calling on SMEs to share their thoughts on what they hope to see in financial services – it recognises in order to bring about what’s next in financial services, it starts with the needs of SMEs. Entries, as well as registrations of interest to open an account, are available from today via its website www.ANEXT.com.sg. The ANEXT Business Account will be made available to the general SME community in the third quarter of 2022.

Singapore – Austria-based game publisher THQ Nordic has opened its office in Singapore as part of the company’s expansion to Southeast Asia. The new office will be tasked with serving the region, specifically public relations, marketing, and securing of SEA content creator talent for THQ Nordic and HandyGames’ slate of games in SEA.

The new Singapore office will be lead by Winson Lo as managing director with more than 10 years of experience working in the games industry; and Graeme Ching as the SEA social media manager, where he will be responsible for the digital and integrated advertising expertise for the company.

This is THQ Nordic’s second subsidiary on the Asian continent, following the incorporation of THQ Nordic Japan KK in October 2019.

Philipp Brock, marketing director at THQ Nordic, said, “Building on the success of our Japanese office, the next logical challenge to take on was entering the greater ASEAN region. With almost half of the world’s gamers located here, establishing a footprint poses not only a daunting challenge but a wholly exciting one as well. Plus and as always: our interest is long-term oriented, not just a quick pleasure.”

Meanwhile, Lo commented, “This region is one of big, open hearts and wonderful gaming fans. There is no better time than now to pick up our controllers, warm up our PCs and get to know this avid community.”

Vietnam – United Overseas Bank (UOB) in Vietnam has elevated Victor Ngo, former head of group compliance at UOB Vietnam, to be its new chief executive officer (CEO). The appointment of Ngo succeeds Harry Loh, who relinquished his position to return to Singapore to lead the Group Non-Financial Risk Management.

In his new role, Ngo will be leading efforts to deepen UOB Vietnam’s digital capabilities, expand its financing offerings, and connect clients to market opportunities in Vietnam and across UOB Group’s regional network.

Ngo is a banking veteran with more than 30 years of experience. He joined UOB in 2004, where he led leadership roles. Since 2015, Ngo has been active in engaging businesses and industry partners in Vietnam. He was instrumental in helping the bank to become the first Singapore bank to establish a foreign-owned subsidiary in Vietnam in 2017.

Wee Ee Cheong, UOB’s deputy chairman and CEO, commented, “Victor has deep market knowledge and a strong affinity with Vietnam. With his extensive experience in the banking industry and within UOB Group, he is well placed to drive our Vietnam franchise to new heights.”

Jakarta, Indonesia – Super, an Indonesian social commerce platform serving tier-2 and tier-3 cities and rural areas, has completed a US$70m oversubscribed Series C round led by NEA, with additional investment from Insignia Ventures Partners, SoftBank Ventures Asia, and DST Global Partners, as well as Amasia, and B Capital, amongst many others.

Super leverages a hyperlocal logistics platform to deliver consumer goods to agents within 24 hours of the order time. It partners with community agents such as individuals and warungs to aggregate and distribute millions of US dollars’ worth of goods to their communities each month.

The platform has launched two private-label brands that have realized product-market fit and will invest a portion of their new capital towards developing additional FMCG private-label brands in the next several years. Moreover, Super will be using the new fund to launch cosmetics products, as the desire for this segment is rising across Indonesia. It will also launch a feature for community agents to track end-consumer transactions to help community agents offer better-tailored experiences for the end customers.

Steven Wongsoredjo, Super’s CEO and co-founder, shared that Super is going after a huge untapped market; thus, they will deploy this investment to enable equitable access for people in Kalimantan, Bali, West Nusa Tenggara, East Nusa Tenggara, Maluku, and Papua over the next few years.

“We will help more multinational, and provincial FMCG suppliers tap into new markets in rural areas and empower more community leaders to optimize their income and have a better quality of life,” said Wongsoredjo.

Meanwhile, Gisella Tjoanda, Super’s head of strategy and business development, noted, “As Super is entering its 4th year in business, we understand the importance of data collection and analysis as one of the keys to success in launching new SKUs. Therefore, we are going to expand our engineering team to improve Super’s warehouse management system by implementing machine learning to help Super better utilise data to expand its SKUs in the future.”

Andrew Schoen, NEA’s partner, commented that they are thrilled to back the whole Super team, as the platform is positioned to improve the lives of the 260 million Indonesians who reside outside of Indonesia’s capital city.

“Super is going to continuously improve access to basic goods, create meaningful and rewarding jobs, and streamline supply chains for Indonesia’s tier-2, tier-3, and rural regions,” said Schoen.

Kuala Lumpur, Malaysia – Dentsu Malaysia has won the digital transformation mandate for Malaysia’s retail food company QSR Brands, becoming the key partner on the company’s transformational journey for KFC and Pizza Hut. 

As part of the mandate, Dentsu Malaysia will be the partner of KFC and Pizza Hut in becoming a true data-first organisation, and future proof business verticals across marketing, operations, and supply chain. The brands have been in the phase of transformation and will go through a data-driven acceleration to improve business efficiencies.

Dheeraj Raina, CEO of Dentsu Media in Malaysia, shared that QSR has set a bold vision for their KFC and Pizza Hut businesses, and the agency shares this vision with them and believes that these brands have a big potential of becoming data companies. 

“For the next 18 months, we will be working with the marketing, data and business teams of KFC and Pizza hut in unlocking the real consumer value with the use of media tech, data and marketing technology. We are bringing the best minds across our service lines together to co-create this powerful and rewarding future with QSR,” said Raina.

Meanwhile, Nehchal Khanna, CEO of QSR Brands (KFC & Pizza Hut) for Malaysia, Singapore, Cambodia, and Brunei, noted that over the last two years, significant digital investments have been made to provide better digital customer experience and restaurant operations efficiencies and to pivot their business to digital sales because of the changing consumer landscape. 

“We are now ready to realise our bold vision of becoming the number one food technology business in ASEAN, and as part of that aspiration, we are embarking upon this journey with our partners at Dentsu who have gone through a rigorous process of evaluation and selection for this role,” said Khanna.

Singapore – Global marketing agency VMLY&R has announced that its CEO for Singapore, Preethi Sanjeevi, steps down from her role after 16 successful years with the network. Following through on a long-held dream, Sanjeevi will be moving on to begin her own digital venture, creating products and solutions outside the marketing space to solve global issues.

Commenting on her departure, Sanjeevi said, “It’s been a journey of 16 years, since joining VML (Qais) back in 2006, and a dream career with the agency. I will always be grateful for the journey full of fantastic clients, learning, mentors who gave generously and most of all the life long friendships. Thank you for everything VMLY&R!”

Meanwhile, Hari Ramanathan, CEO of VMLY&R South, Southeast Asia, and Japan, said that they will soon announce new leadership for the office under the new structure, designed to continue supporting collaborative and dynamic work across the agency’s customer experience (CX), brand experience (BX), and commerce teams, giving the employees, who are housed in Singapore, the chance to learn and grow with the best in the business and to provide world-class solutions for their clients.

In recent months, Singapore’s investment into capability growth includes moving Saurabh Mathur, previously EVP of growth and innovation for India into the role of regional head of customer experience & head of experience for Singapore. The team has also hired Alex Tan as regional commerce director. Both Mathur and Tan will be based out of Singapore and lead growth in solutions for Singapore and regional clients.

Ramanathan further shared that VMLY&R Singapore is a flagship for the region and has gone from strength to strength under Sanjeevi’s leadership, and she leaves it perfectly primed for its next stage of growth. 

“We thank her for everything she’s contributed to the network’s growth over the past 16 years and wish her all the best with her new venture,” added Ramanathan.

He also noted, “In the coming months, our renewed and strengthened Singapore teams will continue to make an impact on our clients’ businesses, reiterating our focus on commerce as the intersection point between BX and CX. This seamless coming together of the three pillars (BX, CX, Commerce) places us perfectly to partner with our clients to diagnose their business problems and work with them on solutions that have an impact far beyond the traditional communications and marketing sphere.”

Singapore – Financial service giant HSBC in Singapore has elevated Alan Ng, former country head of global trade and receivables finance at HSBC Vietnam, to be its new head of SME banking, HSBC’s specialist coverage division supporting small businesses.

In his new role, Ng will be reporting to Regina Lee, HSBC Singapore’s head of commercial banking. This appointment succeeds Li Lian Ng, who was appointed to lead a new coverage division in March 2022, supporting internationally-minded mid-sized businesses in Singapore.

Ng joined HSBC in Singapore in 2008 and has since held coverage and sales roles across the bank’s trade and commodities divisions. Aside from his recent role at HSBC Vietnam, Ng was also the head of global trade and receivables finance at HSBC Taiwan in 2017. He also spent over 10 years at various banks in Singapore.

Commenting on Ng’s elevation, Lee said, “Alan’s many decades of experience both in Singapore and around Southeast Asia will be of great benefit to our SME customers, and will enable HSBC to continue to capture more share of this growing market.”