Emerging Giants In Asia Pacific Report Spots 10 Potential Unicorns In Malaysia

KUALA LUMPUR, July 25 (Bernama) -- The Emerging Giants in Asia Pacific report by HSBC and KPMG has identified 10 emerging giants in Malaysia that are poised to make a lasting impact on the global business landscape over the next decade. The 10 emerging giants in Malaysia are Boost Holdings, Exabytes, Jirnexu, Presto Mall, Mindvalley, Neurogine, Eatcosys, Says, Lapasar, and PolicyStreet. HSBC Malaysia head of commercial banking Karel Doshi said the list excites them as proof that the nation has all the right ingredients for start-ups to flourish and be leaders that shape the industry. “To be an emerging giant or unicorn, financial institutions must be committed to offering start-ups the right support so that they can scale beyond Malaysia. “As the world's leading trade bank, we are always looking for ways to help our customers innovate, develop the solutions of the future and add value,” she said in a joint statement by HSBC and KPMG. The Emerging Giants in Asia Pacific report took an in-depth look at 6,472 technology-focused start-ups in 12 Asia Pacific markets with valuations up to US$500 million (US$1=RM4.45). The report identified 100 leading emerging giants in the Asia Pacific that are fast-growing, influential, and innovative with ambitions to achieve unicorn status and 10 leading emerging giant companies in each market surveyed. While start-ups are poised to continue playing a major role in the country’s development, KPMG Malaysia head of technology, media and telecommunications Guy Edwards stated that some might struggle to gain the guidance and business support needed to grow. “Malaysia has developed a good understanding of technology and how innovation works, as many home-grown companies are listed in the top 10 leading emerging giants for Malaysia. “Beyond government support, nurturing the right ecosystem for our local startups requires adopting a regional outlook, and encouraging strong collaboration by stakeholders in the space,” he said. According to the Securities Commission Malaysia, funding is starting to reach a significant level with total committed venture capital funds hitting US$1.2 billion in 2021, up 20 per cent from 2020, and nearly five times more than Malaysian start-ups raised in 2019. -- BERNAMA