From “Warung Telefon” to Fintech: The Merchantrade Asia Story
From humble beginnings providing phone services to migrant workers, Merchantrade Asia has grown into one of Malaysia’s leading fintech players—driven by agility, customer insight, and bold vision. Managing Director Ramasamy K. Veeran shares the journey.
From the humblest of beginnings— operating “warung telefon” in rural Malaysia—to becoming one of the nation’s largest non-bank financial service providers,
Merchantrade Asia Sdn Bhd is a textbook example of how agility, grit, and a deep understanding of the market can transform a struggling sunset business into a thriving tech-driven enterprise.
At the heart of this transformation is Ramasamy K. Veeran, the company’s Managing Director, who admits with a laugh that Merchantrade began as something of an untapped opportunity back in 1996.
“It was more of a telecommunications trading business then,” he recalls. “I just liked the idea of communications being important to people, connecting them across vast distances.”
The company, he says, initially focused on “call shops” and discounted calling cards, primarily catering to migrant workers who sought a cheaper, accessible way to call home.
In their efforts to constantly find more efficient and affordable ways to connect people globally, the company also explored emerging technologies like Voice over Internet Protocol (VoIP) in the early 2000s.
Hustling to Survive
Ramasamy vividly remembers the market landscape of the early 2000s.
“Back then, ‘call shops’ were widespread across Indonesia, Bangladesh, and Malaysia. In rural areas especially, we had ‘warung telefon’—it filled a crucial gap, offering an affordable bridge for migrant workers to connect with their families overseas, particularly before prepaid mobile services became ubiquitous,” he shares.
Merchantrade was right there, he continues, facilitating these vital connections through those IDD (International Direct Dialing) call operations. This early experience wasn’t just about selling minutes; it provided invaluable, firsthand insights into the
specific, unmet needs of these underserved communities.
The turning point came swiftly with the rise of prepaid mobile phones. The IDD calls business, their core offering, began to crumble rapidly.
“We knew it was a sunset business. Revenues were dropping, and numbers were dwindling. We had to pivot or perish,” says Ramasamy. He faced a crucial turning point: “I had to decide—do I give it all up, or do I find a way to stay relevant for the people we were serving?”
He chose the latter, leaning heavily on his intimate knowledge of his core customer base: the migrant workers. “We knew they were also sending money home, often through informal, risky channels. That’s when I saw a clear opportunity to combine telecommunications with secure, affordable financial services.”
Turning the Tide
The strategic shift gained momentum in 2007. Merchantrade was granted a license by the regulator to operate as a non-bank remittance provider (now part of the Money Services Business framework). This
marks its official entry into the sector.
That same year, Ramasamy secured an MVNO (Mobile Virtual Network Operator) deal with Celcom, allowing the company to offer mobile services tailored to their customers’ needs - a service no other remittance provider was doing at the time.
“Suddenly, we could offer our customers — the migrant workers — two essential services — mobile communication and secure remittance — in one place. It was incredibly convenient and built trust,” Ramasamy says.
From there, Merchantrade began expanding its physical footprint. “Initially, this wasn’t a digital play, so we had to open branches across the country,” he explains.
This nationwide network of Merchantrade Express Remittance branches became vital, and with increasing outlets came increasing costs. “We needed to diversify our offerings within these branches to cover costs effectively and serve our customers better.”
This led to the timely introduction of currency exchange services in 2012, following changes in the licensing structure under the Money Services Business (MSB) Act. Seizing this regulatory opportunity, the company added foreign currency exchange to its growing portfolio, further optimising its brick-and-mortar outlets and expanding its business offerings. “We could now offer multiple essential services from a single location, making us much more viable and efficient as a business,” he explains. These locations now see approximately 4mil footfalls a year, highlighting their continued importance.
Merchantrade embarked into the digital space in 2011 with eRemit, an online remittance service that catered to a whole new segment. Today, it remains as one of the preferred choices among expats and professionals in Malaysia.
In 2018, Merchantrade took its boldest step yet—launching its Merchantrade Money e-wallet and Visa prepaid card.
Merchantrade Money Biz
– A New Way of Expense Management
Tired of juggling personal cards for business expenses and wrestling with cumbersome paperwork? Merchantrade Asia’s new Merchantrade Money Biz card offers a multi-currency solution with integrated expense management, designed to empower Malaysian SMEs with greater financial control and operational efficiency.
For many small and medium sized enterprises (SMEs), managing day-to-day expenses—especially across borders and among multiple employees—can be a logistical and financial headache.
Traditional banking systems, while reliable, can sometimes present limitations in terms of flexibility, accessibility, and cost-effectiveness, particularly for growing businesses with diverse operational needs.
Enter Merchantrade Money Biz (MM Biz), a recently launched product by Merchantrade Asia Sdn Bhd that aims to redefine how SMEs handle their expenses.
This innovative solution, a multicurrency Visa business prepaid card integrated with a robust digital wallet and expense management platform, is poised to become a game-changer for businesses seeking greater control, transparency, and efficiency in their financial operations.
“MM Biz isn’t just business prepaid card — it’s a whole ecosystem built around the real needs of SMEs,” says Ivan Alias, Merchantrade Asia Chief Commercial Officer.
Ivan Alias, Merchantrade Asia Commercials Officer
“It was born out of actual user behaviour and feedback.”
Originally, Merchantrade observed unusual spending patterns from individual users of its Merchantrade Money cardtransactions such as hotel bookings and international service payments that were more typical of businesses than personal use.
Upon investigation, it became clear that these individuals were using their personal cards for business expenses due to the challenges their companies faced in obtaining traditional corporate cards or extending the card facilities to a wider range of employees.
This revelation highlighted a significant gap in the market.
“Many banks don’t readily open corporate accounts for smaller SMEs with, say, five employees,” Ivan points out.
“And even when larger companies do secure corporate credit cards, they are often restricted to senior management like the CEO or CFO, leaving other employees to rely on personal funds for business-related payments.”
Empowering Every Employee
MM Biz steps in to bridge this gap. As the first multi-currency Visa business prepaid card in the Malaysian market, it offers a unique value proposition.
K E y B ENEFITS OF MM BIZ FOR SME S
• 1% Cashback: On international purchases — online or in-store
• Multi-Currency Payments: Lock in and hold up to 20 currencies. Spend like a local without worrying about exchange rates or currency movement.
• Custom Spending Controls: Control usage by employee or transaction type and amount.
• Real-Time Tracking: Monitor every expense instantly via the admin portal.
• Digital Receipts: Snap and store receipts directly in the app.
• Fully Online Onboarding: Apply digitally or get assisted help via phone or WhatsApp.
w h O Sh O u L d uSE MM B IZ?
MM Biz is ideal for:
• SMEs & Corporations seeking efficient solutions for managing crossborder payments and team expenses.
• Startups & Growing Businesses: Requiring flexible and cost-effective financial tools.
• Freelancers and agencies juggling multiple client payments.
• Travel companies handling global bookings
• Operations teams controlling team spending
• Finance managers tired of messy claims and petty cash
• Online Sellers & Importers/ Exporters handling frequent overseas payments.
“It allows any level of employee within an SME to make necessary payments – be it for accounts, licenses, utilities, or even rental – anywhere Visa cards are accepted,” Ivan states.
This, he says, eliminates the need for personal card usage for business purposes, streamlining expense tracking and simplifying accounting.
Ivan shares a real-world example: “A friend of mine, who runs multiple education centres, often struggled during annual tax submissions. Her tax consultant constantly had to clarify business-related expenses made using her personal card. With MM Biz, all business spending is consolidated on one statement, making the process much simpler.”
Beyond payments, MM Biz is also a practical expense management tool. Businesses can issue cards to multiple employees – drivers, admin staff, branch managers - and set restrictions on how each card is used.
For example, Ivan says, a driver’s card can be limited to fuel or toll payments only. Employers can track expenses in real-time, upload receipts via the app, and centralise all transaction records for easy accounting.
Borderless Transactions, Local Control
One of the standout features is its multicurrency capability.
SMEs that regularly make overseas payments or shop on platforms like Amazon, Alibaba, or Taobao, or even pay for services like digital ads, travel, or hotel bookings can lock in favourable exchange rates and spend it later, avoiding the risks of fluctuating rates.
“Let’s say you purchase US dollars today when the rate is low. You can hold onto it and spend it anytime, even next year. It’s a great way for businesses to manage budgets without worrying about currency fluctuations,” Ivan explains.
Adding to its features, MM Biz is currently offering tangible financial benefits.
“We offer a 1% cashback on all international transactions, whether inperson or online, through platforms like Amazon or eBay,” Ivan highlights. “For SMEs with significant overseas spending, this can translate to substantial savings.”
MM Biz also tackles the perennial problem of paperwork and manual expense tracking. The accompanying mobile application allows users to capture and store receipts digitally. “Imagine a scenario where an employee buys coffee for clients,” Ivan illustrates.
“Instead of holding onto a physical receipt, they can simply take a picture and save it within the app, making expense claims and reconciliation much more efficient.”
For SMEs still relying on petty cash, MM Biz offers a more controlled and transparent alternative.
“Companies with multiple branches often struggle to monitor petty cash usage,” Ivan explains.
“With MM Biz, each branch manager can have a card, and the headquarters can track all transactions and view accompanying receipts through a centralised admin portal.”
This, he says, reduces the back-andforth of information exchange and aligns with the government’s push towards a cashless economy.
The platform includes an admin portal that provides businesses with total visibility over expenses, downloadable reports, and digital storage of receipts.
Expanding Value for Malaysian SMEs
Beyond corporate cards, Merchantrade provides a diverse range of solutions designed to support SMEs of all sizes. These include B2B remittance services for cross-border payments of goods and services, along with payment gateway and EDC solutions for both online and offline merchants. To further enhance its value proposition, the company also introduced digital wage disbursement solutions, helping large corporates and SMEs digitize and streamline their wage payment processes.
This range of solutions directly improves the B2B value chain, simplifying payments, expenses, and supporting the cashless shift. Merchantrade ensures these powerful tools are accessible to all SMEs via assisted onboarding and support channels. This dedication helps Malaysian SMEs easily adopt solutions to streamline operations and gain better control, truly expanding value across the country.
SME Malaysia Welcomes New Leadership and Celebrates Chinese New Year with Vision for Unity and Growth
Over 900 guests gathered in a spirit of camaraderie and celebration as the SME Association of Malaysia marked a significant milestone: the inauguration of its new council and the annual Chinese New Year Celebration Dinner.
The SME Association of Malaysia (SME Malaysia) marked a new chapter in its storied history with the inauguration of its new council during the 2025 Chinese New Year Celebration and Installation Dinner, held on January 15 at a prestigious venue in Kuala Lumpur.
Attended by over 900 guests, including industry leaders, government representatives, and members of the SME community, the event was both a celebration of unity and a call to action for Malaysia’s small and medium enterprises (SMEs).
With the theme “Rise Together to Transform Tomorrow”, the evening highlighted the association’s renewed commitment to fostering collaboration and building resilience within the SME sector, which forms the backbone of Malaysia’s economy.
The grand dinner was officiated by the Political Secretary to the Minister of Human Resources Dr. Kelvin Yii who represented the Minister.
Among the notable guests were Selangor State Legislative Assemblyman Lau Weng San, Federation of Malaysian Manufacturers president Tan Sri Dato’ Soh Thian Lai, Malaysia Productivity
Corporation chairman Datuk Kamaruzzaman Johari, Social Security Organisation (Perkeso) chief executive officer Dato’ Sri Dr. Mohammed Azman, and HRD Corporation chief executive officer Datuk Wira Shahul Dawood.
A Night of Celebration and Unity
The celebration featured a vibrant programme, including a lion dance, cultural and musical performances, and a much-anticipated lucky draw.
In his welcome speech, organising chairperson Calvinn Tay expressed gratitude to the committee and sponsors for their support, stating, “This theme
as crucial pathways for SMEs to remain competitive.
“In these challenging times, helping SMEs embrace innovation and expand into international markets is more important than ever,” Chin said.
The association also aims to promote the adoption of Environmental, Social, and Governance (ESG) principles, aligning SMEs with global sustainability standards while supporting Malaysia’s broader environmental goals.
In his speech, Chin outlined the pressing issues facing SMEs, including rising operational costs, global economic uncertainties, and the challenges of staying competitive in a rapidly changing market.
He reaffirmed SME Malaysia’s commitment to advocating for policies that foster a business-friendly environment while promoting innovation and digital transformation.
The association’s ongoing initiatives aim to equip SMEs with tools for resilience, including training programmes and partnerships under regional trade agreements such as RCEP and CPTPP.
“By empowering SMEs, we can strengthen the middle class, reduce income inequality, and position Malaysia as a competitive, inclusive, and innovative nation,” Chin stated.
The Road Ahead
Looking forward, SME Malaysia remains committed to its mission of empowering SMEs through collaboration, advocacy, and innovative solutions.
Chin concluded his address with a pledge to work closely with the government, NGOs, and industry stakeholders to drive Malaysia’s economic growth and ensure a thriving SME sector.
As Malaysia’s largest SME association, founded in 1995, SME Malaysia continues to be a pillar of support for the country’s 13,000-strong SME community.
With its focus on resilience, inclusivity, and sustainability, the association is wellpositioned to lead the sector into a brighter and more competitive future.
Malaysia poised to lead Southeast Asia’s E-Commerce Growth
Industry experts stress the need to overcome logistics challenges and strengthen public-private partnerships to ensure Malaysia stays on track to becoming a leading e-commerce hub in Southeast Asia.
Malaysia is set to become a key player in Southeast Asia’s burgeoning e-commerce sector, according to a new report by Blackbox Research.
Released in January, the white paper, Grasping the E-Commerce Opportunity in Southeast Asia, highlights Malaysia’s strategic location, robust infrastructure, and growing digital base as assets positioning the country for significant growth in the region’s digital economy.
Despite this potential, experts underline the need to address logistics challenges and encourage public-private partnerships to fully capitalise on Malaysia’s e-commerce opportunities.
Based on 30 hours of interviews with 17 industry experts, the report outlines both the opportunities and obstacles Malaysia faces as it seeks to strengthen its position in the e-commerce boom.
Logistics Remains a Key Challenge
While Malaysia ranks second in e-commerce performance in Southeast Asia, trailing only Singapore, logistics remains a critical barrier to growth.
High logistical costs, inconsistent delivery services, and bottlenecks between Peninsular and East Malaysia are hindering the sector’s development.
Only six of the 17 experts surveyed felt that Malaysia’s current e-commerce framework is supportive of sector growth.
Blackbox Research chief executive officer David Black emphasised the urgent need for logistics optimisation.
“Businesses need to adapt to changing customer habits while remaining resilient and cost-efficient. Logistics players will be key to creating faster, more seamless connections between sellers and buyers,” he said.
To address these issues, experts advocate for embracing advanced logistics technologies, optimising delivery routes,
and establishing multi-region distribution centres.
Public-Private Partnerships
Essential for E-Commerce Growth
Public-private collaboration is seen as vital for Malaysia to realise its e-commerce potential.
The government’s efforts to develop the country’s courier and parcel market, projected to reach RM7.25 billion (US$1.58 billion) by 2025, are a promising sign.
Infrastructure improvements, along with initiatives like the Digital Free Trade Zones, have streamlined cross-border trade, enabling micro, small, and medium enterprises (MSMEs) to access global markets.
Deputy Communications Minister Teo Nie Ching, speaking in October 2024, highlighted the importance of leveraging government initiatives to scale operations.
“The government’s role in providing infrastructure and support for local businesses is critical to the growth of Malaysia’s digital economy,” she said.
“Businesses need to adapt to changing customer habits while remaining resilient and costefficient. Logistics players will be key to creating faster, more seamless connections between sellers and buyers.”
A Bright Future for Malaysian SMEs
Black noted that experts are optimistic about the future of Southeast Asia’s e-commerce sector, with Gross Merchandise Value (GMV) projected to hit RM729.4 billion (US$159 billion) in 2024 and double by 2030.
He added that Malaysia has the momentum to emerge as a regional leader.
For Malaysian SMEs, these developments present significant opportunities for growth, market expansion, and access to governmentbacked programmes.
To take full advantage of these opportunities, businesses must adapt to evolving logistics challenges and embrace innovative solutions.
As Malaysia continues to strengthen its e-commerce ecosystem, fostering a collaborative approach among all stakeholders will be key to building a sustainable and dynamic digital economy.
For more information on the full report by Blackbox Research, visit www. blackbox.com.sg.
David Black
MATRADE Unveils MADANI Digital Trade Platform
In a strategic move to bolster Malaysian SME exporters amidst global market uncertainties, MATRADE launches a comprehensive virtual showcase designed to unlock global opportunities.
The Malaysia External Trade Development Corporation (MATRADE), in collaboration with Nazsoft Tech Sdn Bhd and the Royal Malaysia Customs Department (RMCD), launched a virtual showcase aimed at enhancing Malaysian SME exporters’ access to global markets.
The MADANI Digital Trade (MDT) platform (www.madanitrade.com) was launched by Minister of Investment, Trade & Industry (MITI), Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz on March 13 at MITEC in Kuala Lumpur.
The platform is designed to provide essential tools for SMEs, including business matching, an e-marketplace, and market intelligence on grants, training, and traderelated solutions.
In his address, Tengku Zafrul emphasised the pivotal role of digital trade in Malaysia’s economic transformation, aligning it directly with the MADANI Economy Framework and MITI’s New Industrial Master Plan (NIMP) 2030.
He further highlighted the initiative’s support for Malaysia’s commitment to the ASEAN Digital Economy Framework Agreement (DEFA), positioning the nation as a frontrunner in the regional digital trade landscape.
“The MDT will enable our SMEs to expand market reach, enhance trade efficiency and accelerate digital adoptionensuring Malaysia remains competitive in the global digital economy,” he stated.
A key strength of the MDT platform lies in the strategic support from the Royal Malaysia Customs Department (RMCD).
This collaboration allows users to seamlessly access RMCD’s services directly through the MDT platform, significantly streamlining trade facilitation processes.
By leveraging automation, artificial intelligence (AI), and data analytics, the partnership aims to better support various aspects of trade, including access to customs declarations for import, export, and e-commerce, as well as ensuring adherence to regulatory compliance.
MATRADE chairman Dato’ Seri Reezal Merican Naina Merican emphasised the platform’s strategic importance in leveraging digital tools for market access.
“This platform is a strategic approach that has the potential to empower our exporters of all sizes to connect with global markets, accelerate market diversification, and ultimately, achieve greater success in line with our target of increasing the digital economy’s contribution to GDP from 19.1% in 2019 to 22.6% by 2025,” Reezal said.
Dr. Muhammad Nazrol Zawawi, CEO of Nazsoft Tech, the technology partner behind the MDT platform, echoed this sentiment.
He highlighted the initiative’s potential to serve as a comprehensive information portal for Malaysian exporters, particularly Micro, Small, and Medium Enterprises (MSMEs).
“By among others consolidating grants, training, permits and up-to-date market intelligence, the platform enhances transparency and streamlines trade
efficiency,” Dr. Nazrol added, underscoring the platform’s role in simplifying the complexities of international trade for SMEs.
The MDT platform boasts a range of key features designed to empower Malaysian exporters.
Key features of MDT include a Virtual Engagement Platform for B2B matching, an e-Marketplace for showcasing products, a Member Portal for accessing vital information, and a one-stop business solutions centre.
The platform also introduces MIVA, an AI-powered virtual assistant providing 24/7 support.
The RMCD’s support allows users to access customs services through MDT, streamlining trade facilitation. The launch garnered significant industry participation, demonstrating strong interest in leveraging the platform to drive trade opportunities.
For more information, visit www.madanitrade.com.
e-Invoicing: A New Era for Malaysian Businesses
With a revised timeline, Malaysian businesses adapt to mandatory e-invoicing, now with staggered deadlines and exemptions, navigating the challenges and embracing the opportunities of this digital shift.
The Malaysian landscape is undergoing a significant digital transformation, with the government mandating e-invoicing for businesses, now with a phased implementation.
Spearheaded by the Inland Revenue Board of Malaysia (IRBM), this ambitious initiative marks a pivotal moment in Malaysia’s economic transformation, transitioning from traditional paper-based systems to a fully digitalized future.
e-invoicing, at its core, involves the electronic exchange of invoices between businesses. Gone are the days of cumbersome paper trails and manual data entry.
Instead, transactions are documented digitally, enabling real-time validation and seamless integration with existing business systems.
This digital revolution promises a multitude of benefits, ranging from increased efficiency and reduced costs to improved tax compliance and enhanced transparency.
e-invoicing will significantly impact how businesses operate. By streamlining invoice processing, businesses can significantly reduce administrative overhead.
The time and resources previously spent on manual data entry, invoice storage, and paper-based record-keeping can now be redirected towards more strategic endeavours.
Furthermore, the automation of invoice validation ensures greater accuracy in tax reporting, minimising the risk of errors and penalties.
For businesses engaged in international trade, e-invoicing offers a significant advantage. By adopting standardised electronic formats, companies can seamlessly integrate with global supply chains, facilitating smoother cross-border transactions and improving overall efficiency.
The IRBM has provided businesses with two primary avenues for e-invoicing
implementation - MyInvois and Application Programming Interfaces (APIs).
The MyInvois portal caters specifically to the needs of Small and Medium Enterprises (SMEs), offering an intuitive interface for generating and submitting e-invoices.
Larger enterprises, on the other hand, can leverage APIs to integrate e-invoicing seamlessly with their existing Enterprise Resource Planning (ERP) systems, enabling high-volume transactions with minimal disruption to their operations.
Revised Implementation Timeline
Recent updates from the IRBM have introduced a phased approach to e-invoicing implementation.
Businesses with an annual turnover
of up to RM500,000 will be required to implement e-invoicing from January 1, 2026, with a six-month transition period.
This revised deadline, announced by Finance Minister II, Senator Datuk Seri Amir Hamzah Azizan, benefits over 240,000 SMEs, granting them additional time to adapt to the system.
Furthermore, businesses with an annual turnover below RM150,000, such as small food vendors, are exempt from e-invoicing requirements, offering relief to over 700,000 micro-traders. While the benefits of e-invoicing are undeniable, the transition to a digital system requires careful planning and execution, making undertaking a thorough assessment of their existing invoicing processes, identifying potential challenges and areas
for improvement a vital move. Choosing the appropriate e-invoicing platform is crucial, taking into account factors such as compliance requirements, costeffectiveness, and the level of technical support provided.
Furthermore, effective employee training is paramount to ensure a smooth transition to equip them with the necessary skills to navigate the new digital landscape, understand the e-invoicing process, and effectively utilise the chosen platform. Open communication with clients and suppliers is also essential to ensure a seamless transition for all stakeholders involved.
The government has recognised the challenges faced by businesses during this transition and has implemented various measures to facilitate adoption. The Madani Budget 2024 includes financial incentives to offset the initial investment costs associated with e-invoicing implementation, particularly for SMEs Additionally, the government remains committed to easing the transition, providing free access to the MyInvois portal and mobile app for tax submissions.
IRBM is also conducting free nationwide training sessions to support businesses. These initiatives are crucial in encouraging widespread adoption and ensuring that the benefits of e-invoicing are accessible to businesses of all sizes.
The e-invoicing revolution in Malaysia represents a significant step towards a more efficient, transparent, and digitally empowered economy. While the transition may present initial challenges, the longterm benefits are undeniable. By embracing this digital transformation, businesses can enhance their competitiveness, improve their bottom line, and contribute to the sustainable growth of the Malaysian economy.
With the revised implementation timeline, businesses must act strategically to prepare for this transformative change. By proactively planning, investing in the necessary infrastructure, and embracing the opportunities presented by e-invoicing, Malaysian businesses can position themselves for success in the digital age. The future of business in Malaysia is digital, and e-invoicing is paving the way, with a more gradual and supportive path forward.
Disclaimer: This article provides a general overview of the Malaysia e-Invoice. It is not intended as financial or legal advice.
Key Highlights
w hat is e-Invoicing?
E-invoicing refers to creating digital payment records between suppliers and buyers, validated in real-time.
• dO cu MENTS TO BE d IGITISE d:
- Invoices (including self-billed).
- Credit notes (for adjustments/discounts).
- Debit notes (for additional charges).
- Refund notes (for transaction refunds).
• Ex EMPTIONS:
Consolidated e-invoices can be issued during the grace period unless specifically requested by the buyer.
Benefits of e-Invoicing
R E duc E E RRORS
Minimise manual entry and human mistakes, leading to fewer discrepancies and disputes with clients
E FFI c IENT cOMPLIAN c E Simplify tax reporting and adherence to regulations
OST
Av INGS Digitalisation reduces operational expenses
how does e-Invoicing work?
I MPROv E d
Ensure accuracy and uniformity in financial data
e-invoicing can be implemented through two methods:
1. MyI N vOIS P ORTAL (Best for SMEs):
• Generate single or batch invoices.
• Process steps:
- Issue invoice → IRBM validates → Receive Unique Identifier Number (UIN)
- Share validated invoice → Buyer scans QR code for verification
- Errors? Request rejection and issue a corrected invoice
2. API I NTEGRATION (Ideal for large-scale transactions):
• Enables high-volume data transfer between MyInvois and the company’s owned system. Options for integration include direct ERP integration, as well as utilising Peppol or nonPeppol service providers
5 AI Trends Shaping the Future of SMEs in 2025
A new Google report outlines five critical AI trends shaping the future of SMEs in 2025, including the rise of generative AI, hyper-personalization, and intelligent automation.
The buzz around Artificial Intelligence (AI) is impossible to ignore, but 2025 is proving to be a turning point for small and medium enterprises (SMEs).
No longer limited to tech giants and multinationals, AI continues to revolutionise industries, empowering businesses of all sizes to streamline operations, enhance customer engagement, and unlock new growth opportunities.
For SMEs, staying ahead in the AI landscape is more crucial than ever.
A recent Google report highlights five key AI trends set to shape business strategies in 2025. Here’s what SMEs need to know to thrive in this evolving landscape.
1
Generative AI
Reinventing Content and Creativity
Generative AI has transitioned from being a novelty to a must-have tool for businesses. This technology — capable of creating text, images, and even code — is helping SMEs cut costs and accelerate project timelines.
According to the report, generative AI applications are enabling SMEs to personalise marketing efforts and produce content more efficiently.
It notes that companies using generative AI for marketing content creation have reported a 30% increase in engagement rates.
Tools like Google’s Gemini are highlighted as examples of platforms that simplify content creation, boosting productivity and innovation in businesses.
2
AI-Powered Customer Service
Raising the Bar AI-driven customer service tools are becoming indispensable.
From chatbots to sentiment analysis tools, these innovations enable SMEs to provide 24/7 support and predict customer needs more effectively.
The report notes that businesses using AI for customer interactions have reduced response times by up to 70% while improving customer satisfaction scores.
The report reveals six types of AI agents:
“Data agents: Extract and act on meaningful insights, designed to support research and data analysis efforts.”
• Customer agents: Deliver personalised customer experiences and operate seamlessly across various channels.
• Employee agents: Enhance productivity by managing repetitive tasks, answering employee queries, and streamlining internal communication through editing and translation support.
• Creative agents: Generate content, images, and ideas, assisting with design, writing, personalisation, and marketing campaigns.
• Data agents: Extract and act on meaningful insights, designed to support research and data analysis efforts.
• Code agents: Accelerate software development by providing AI-enabled code generation and coding assistance for developers and product teams.
• Security agents: Strengthen organisational security by mitigating attacks and expediting investigations, ensuring a robust defence against cyber threats.
These agents are revolutionising how SMEs interact with customers, optimise internal workflows, and address security challenges, making AI an essential tool for business growth.
3
Hyper-Personalisation
Crafting Unique Experiences
AI-powered hyper-personalisation is reshaping how SMEs engage with their customers.
By analysing vast amounts of data, businesses can deliver tailored experiences that resonate more deeply with their audience.
The report reveals that 76% of consumers expect personalised interactions, and businesses meeting these expectations see a 20% increase in loyalty, highlighting personalisation enabled by AI is a key driver of customer loyalty and revenue growth.
Google’s insights showcase how AI helps businesses offer curated recommendations and targeted marketing, driving better customer outcomes.
“Generative AI, hyper-personalisation, intelligent automation, and robust cybersecurity are not just futuristic concepts but practical tools reshaping business realities today.”
4Intelligent Automation Simplifying Workflows
AI-driven automation tools are helping SMEs enhance operational efficiency by reducing manual workloads and improving accuracy.
The report highlights that businesses adopting intelligent automation have seen operational costs decrease by 15% on average.
By incorporating AI into areas such as inventory management, payroll processing, and workflow optimisation, SMEs can scale operations effectively without significant increases in resources.
5
AI-Enhanced Cybersecurity Building Resilience
With cyber threats on the rise, SMEs are increasingly turning to AI for robust security measures.
AI tools can identify vulnerabilities, detect suspicious activities, and respond to threats in real time.
Google’s report emphasises that 80% of businesses using AI-enhanced cybersecurity solutions experienced fewer security breaches compared to those relying on traditional methods.
As data protection becomes a key concern, these technologies are critical for maintaining customer trust.
Conclusion: Seizing the AI Advantage
The transformative power of AI is undeniable, and SMEs that embrace these trends will gain a competitive edge.
Generative AI, hyper-personalisation, intelligent automation, and robust cybersecurity are not just futuristic concepts but practical tools reshaping business realities today.
By leveraging these AI-driven innovations, businesses can not only optimise operations but also unlock new growth avenues.
As SMEs chart their course in 2025, the ability to adopt and innovate with AI will be critical to their success, as underscored by Google’s latest findings.
Shaping the Future of Estate Planning
Established in 2021, Mega Trustee Berhad is redefining trust and estate planning in Malaysia through personalised service, digital adaptability and a steadfast commitment to transparency.
Licensed under the Trust Companies Act 1949, Mega Trustee Berhad has quickly made its mark in Malaysia’s estate and trust services industry.
Established in 2021, the company provides a full suite of fiduciary solutions including Contingency Trusts, Insurance Trusts, Personal and Corporate Trusts, Will Writing, Estate Administration and Escrow Services.
From the outset, Mega Trustee’s mission has been clear — to protect the futures of families and businesses by delivering trustworthy, transparent and efficient estate planning.
With a leadership team experienced in wealth management and asset protection, the company is guided by its commitment to personalised service and ethical practice.
Its rapid growth is grounded in strong regulatory foundations and a broad client portfolio, ranging from individual clients to corporate entities.
Led by Chief Executive Officer Shafiq Sahafi, the company has positioned itself not only as a service provider, but also as an advocate for informed legacy planning, raising awareness about the long-term importance of trust management.
Embracing Change
Launched during the post-pandemic recovery period, Mega Trustee faced early challenges as the world adjusted to new expectations around security, planning and digitalisation.
Rather than resist change, the company
embraced it — adopting digital tools for consultation, document handling and client support from the very beginning.
“The pandemic fundamentally changed how people think about life, security and planning for the future,” says Shafiq.
This strategic adaptability allowed Mega Trustee to offer seamless remote service without compromising on professionalism or personal touch.
It also gave rise to new industry standards for how estate planning can be delivered in an increasingly digital world.
Central to Mega Trustee’s success is a commitment to transparency. Clients are guided through every step of the estate planning journey with open communication, honest advice and full visibility into how their assets are managed.
FA st FAC ts
MEGA TRuSTEE BERhAd
11-10 ,Wisma UOA II, No.21 Jalan Pinang, 50450 Kuala Lumpur
Founded: 2021
Key Industry: Trustee
Specialty:
Trustee Services, Escrow Services and Will Writing Services
website: megatrustee.com.my
“From the initial consultation to ongoing trust administration, we prioritise clear communication, honest advice and complete visibility into how assets are managed,” he adds.
This approach has built deep trust and long-term relationships — key outcomes in an industry where confidence and clarity are everything.
Pioneering a More Informed Future
Beyond its operational success, Mega Trustee has played an important role in reshaping how Malaysians approach legacy and asset planning.
By educating the public on the value of estate planning, the company helps prevent family conflicts, protect generational wealth and reduce legal uncertainties.
In doing so, Mega Trustee is not just serving clients — it is helping to elevate trust services as a vital, professionalised sector in the country.
Looking forward, the company aims to expand its reach while maintaining the ethical standards and client-first approach that define its brand.
As more Malaysians seek peace of mind and financial security for their families, Mega Trustee is ready to guide them — one legacy at a time.
Chief Executive Officer Shafiq Sahafi
Building Resilience, Powering Progress
Celebrating 21 years of growth, ExPG Engineering demonstrates how adaptability, strategic partnerships, and a commitment to quality drive success in the challenging energy sector.
ExPG Engineering Sdn Bhd, an ISO 9001:2015 certified company, has solidified its position as a key player in Malaysia’s mechanical, electrical, and instrumentation and control services sector.
Specialising in the oil and gas, power plant, and general industry, ExPG provides comprehensive project management, fabrication, construction, erection, commissioning, and maintenance services.
Founded in 2004, the company’s journey is a testament to the power of resilience and innovation in navigating the complexities of the modern business landscape.
The inspiration behind ExPG Engineering stemmed from Director Rathakrishnan Arumugam’s (picture) passion in solving complex engineering challenges and making meaningful impacts to the industry.
standard operating procedures, and ensuring seamless operations.
“I wanted to create a business that delivers quality solutions while fostering innovation and collaboration. The drive to build something meaningful and contribute to industry motivated us to take this journey,” said Rathakrishnan.
Since its inception, ExPG Engineering has experienced steady growth, expanding its service offerings and strengthening its reputation for excellence.
Celebrating its 21st anniversary, the company proudly reflects on its journey of sustained growth and resilience.
“Over the years, we’ve navigated some of the toughest challenges in modern history, and it’s nothing short of amazing that we’ve emerged stronger, having successfully weathered every storm,” added Rathakrishnan.
A significant challenge arose during the COVID-19 pandemic. However, ExPG Engineering transformed adversity into opportunity.
Instead of retreating, the company adapted swiftly by implementing remote work protocols, developing detailed
“Despite the challenges, our focus on communication, innovation, and collaboration allowed us to not only maintain productivity but thrive in a time of uncertainty,” he continued.
The company’s robust financial management has ensured its long-term sustainability, while strategic partnerships, such as the collaboration with Lawi Engineering (combining German and Thai expertise), have broadened its capabilities.
ExPG Engineering is also the exclusive Malaysian distributor for Dr. Thiedig products, manufactured in Germany, further enhancing its product portfolio.
Powering the Nation
ExPG Engineering plays a vital role in the energy sector, providing both direct and indirect energy supply services to major clients, including Tenaga Nasional Berhad and the Panglima Power Plant.
“Our full-scale Engineering, Procurement, Construction, and Commissioning services ensure timely project delivery, with a focus on efficiency and quality,” Rathakrishnan said.
Through their dedication and expertise, he says, ExPG Engineering
L3-06, Plaza Seri Setia, No.1, Jalan SS9A/2, Seri Setia, 47300 Petaling Jaya, Selangor
Founded: 2004
Industry Focus:
Oil & Gas, Power Generation, Engineering Services, General Industry
Specialty:
Mechanical, Electrical, Process, Instrumentation & Control, Engineering & Project Management
Number of Employees:
1 - 50 website: www.expg.com.my
guarantees uninterrupted power supply, supporting the growth of the industry and contributing to the nation’s energy security.
For SMEs striving for growth, Rathakrishnan says companies have to focus on delivering excellent customer satisfaction, staying adaptable, and innovating to stay ahead by embracing technology to streamline operations.
“They also have to manage finances carefully, build strong partnerships, and invest in their team’s growth,” he continued.
Above all, Rathakrishnan concludes, they have to stay resilient and learn from setbacks, as persistence is key to achieving long-term success.
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ExPG ENGINEERING SdN Bhd
ExPG ENGINEERING SDN BHD
We Are Specialized in;
Lifting Industry Standards
Celebrating its 20th anniversary this year, Procan Industries (M) Sdn Bhd continues to raise the bar in Malaysia’s forklift rental and trading sector through customer-first service, a strong people-focused culture, and a steadfast commitment to ESG values.
Established with a vision to be the most trustworthy forklift solution provider in Malaysia and the Asia-Pacific region, Procan Industries (M) Sdn Bhd has carved a name for itself through dedication to excellence, innovation, and sustainability.
With services ranging from forklift rentals and sales to maintenance and spare parts, Procan serves a diverse customer base spanning manufacturing, logistics, infrastructure, retail, wholesale, and the food industry.
Unlike construction machinery, forklifts are integral to everyday operations across a wide spectrum of industries.
Procan recognises this and tailors its services to meet varied industrial needs while advocating for the shift to greener alternatives like electric forklifts.
Beyond being a leading equipment supplier, Procan positions itself as a longterm business partner.
The company strives to exceed customer expectations by offering highquality equipment, reliable after-sales support, and competitive pricing—all delivered with professionalism and deep industry knowledge.
Driven by Purpose
Procan’s growth is underpinned by strong corporate values: customer-first service, environmental responsibility, mutual success, continuous innovation, and operational excellence.
These values are not only reflected in the company’s services but also in how it governs its operations and contributes to the larger community.
Environmental, Social, and Governance (ESG) commitments are embedded into Procan’s business model.
Environmentally, the company champions sustainability by encouraging clients to opt for electric-powered equipment to reduce carbon emissions.
On the social front, Procan emphasises a diverse and inclusive workplace culture while ensuring employee welfare with competitive pay, housing, wellness programmes, and annual retreats. Its governance structure promotes transparency and accountability, supported by robust internal controls and detailed financial disclosures.
This holistic approach ensures that Procan’s business success is shared with society and conducted with integrity.
SdN Bhd
Shah Alam, Selangor
Founded: 2005
Key Industry: Material Handling Equipment
Specialty:
Forklift Rental, Sales, Maintenance and Spare Parts
Number of Employees: 70 website: www.procan.com.my
Empowering People for Sustainable Growth
At the heart of Procan’s operations is a belief that empowered people drive company success.
Through comprehensive education, training, and a clear path for growth, Procan nurtures talent at every stage. Its five-step onboarding system helps new hires quickly integrate into the company, while multi-dimensional performance evaluations and open feedback channels ensure ongoing professional development.
Employees are given the opportunity to chart their career paths—whether in technical or management tracks— through continuous training and exposure to external learning opportunities.
The culture is one of open dialogue, teamwork, and mutual respect, creating a workplace where people feel invested and valued.
As it continues to innovate and grow, Procan remains committed to sustainable development, superior service, and empowering people—lifting not just loads, but also standards across the industry.
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PROcAN INduSTRIES (M)
