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Fusionex Powers up Digital Free Trade Zone (DFTZ) Platform

KUALA LUMPUR, Malaysia–(BUSINESS WIRE)–Fusionex is leading a consortium to provide the e-services platform, powered by Big Data technologies, for the world’s first Digital Free Trade Zone (DFTZ) – a ground-breaking initiative jointly launched between the Malaysian Government and e-commerce marketplace titan, Alibaba.

With DFTZ being the brainchild of the Malaysian government, key drivers and stakeholders include the Ministry of Finance (MOF), Malaysia Digital Economy Corporation (MDEC), Ministry of International Trade and Industry (MITI), the Ministry of Transport (MOT), Royal Malaysia Customs Department, Malaysia Airports Holdings Berhad, POS Malaysia, the Malaysia External Trade Development Corporation (MATRADE), SME Corp, etc.


The DFTZ e-Services Platform is a trade facilitation platform that is integrated with other business service platforms and government service platforms, to facilitate a paperless, end-to-end and accurate data capture, data storage, data exchange and data analytics process, in respect of the high growth in internet trade activities.

The DFTZ will facilitate small and medium enterprises (SMEs) and merchants to capitalize on the internet community as well as the e-marketplace via a huge borderless addressable market. At the same time, these cost benefits and efficiencies inadvertently trickle down to consumers who would stand to enjoy faster, efficient and more cost-effective products and fulfillment.

At the DFTZ launch, Malaysian Prime Minister Dato’ Sri Najib Tun Razak declared, “We want to be the leader in the region for global trade. We want this to be the regional hub. We want SMEs to really grow by leaps and bounds and that can happen because of DFTZ. Digital Malaysia is the fastest growing sector in our economy. It is a sector that will enjoy double digit growth, and the sky is the limit! This (the DFTZ) is the part that will provide the growth, the potential, the impetus, the catalyst for us to change, redefine regional and global trade, redefine the role of SMEs, and redefine the partnership of Malaysia and China.”

The aim of the DFTZ is to capitalize on the convergence and exponential growth of fusionex founderthe internet economy and cross-border e-commerce activities, by facilitating cross-border trade and enabling businesses to import and export goods with a priority for e-commerce.

To achieve this goal, the DFTZ will help businesses including SMEs expedite the transportation of goods regionally. For Phase 1, the DFTZ will set aside a section of the Kuala Lumpur International Airport (KLIA) Aeropolis for storage space and logistics facilities. This will then expand to other sites in subsequent phases.

During his keynote speech at the DFTZ launch, Alibaba Group Chairman and Founder Jack Ma commented, “I am impressed with Malaysia’s vision and speed. DFTZ and eWTP would help small businesses and individual eCommerce players benefit from global trade. Today we are witnessing that in Asia, small businesses can use digital ways to enable themselves to sell things, to buy things, to bridge moneys all across the world. Alibaba commits that we will make this thing – the first DFTZ, the first eWTP – very successful! This is not only an opportunity for Malaysia small businesses. This hub is a hope and opportunity for Asia’s young people and small businesses. It is the opportunity for Asia.”

Giving businesses access to the international market will result in a growing trend of orders and trades fueled by businesses not being confined to specific locations and time zones. The Prime Minister also highlighted that the DFTZ will create 60,000 new jobs and boost exports by SMEs to US$38 billion (MYR160 billion) by 2025.

The DFTZ is also expected to generate a huge amount of online transactions of orders, trade movements, payments, and more, coming in and going out of the country and region, hence the need for the platform to be powered by Big Data technologies.

Dato’ Seri Ivan Teh, Fusionex CEO, says: “The DFTZ is a first of its kind digital hub that brings together a multitude of key parties including trade facilitation players, e-marketplace players, government agencies, logistics providers, freight forwarders, and of course, SMEs. The state-of-the-art e-Services platform is powered by, amongst others, Big Data technologies and Machine Learning that will facilitate trade and allow transactions to take place faster, more cost effectively, more reliably and more efficiently.

This visionary initiative by the Malaysian government and Alibaba will pave the way to a seamless digital trade platform that will help remove unnecessary barriers, reduce costs and minimize or avoid unnecessary delays and encumbrances. We are delighted that Fusionex’s platform will power this initiative. At Fusionex, we believe this marks the beginning of a revolutionary way to perform trade regionally and globally, at speed and at scale.”

About Fusionex
Fusionex is an established multi-award winning data technology provider specializing in Analytics, Big Data, Machine Learning and Artificial Intelligence (AI). Its offerings are focused on helping clients unlock the value and derive insights from data. Fusionex is the largest Big Data Analytics company and market leader in ASEAN, bringing state-of-the-art, innovative and breakthrough data-driven solutions to its stable of clientele (including Fortune 500, FTSE companies, large conglomerates as well as a wide array of small and medium enterprises (SMEs) that spans across the United States, Europe as well as Asia Pacific.

Fusionex has recently entered into a strategic partnership with Alibaba Cloud to drive digital transformation across the region.

To learn more about Fusionex, visit https://www.businesswire.com/news/home/20180917005041/en/Fusionex-Supports-Medical-Outreach-Program-targeting-500000

FUSIONEX POWERS UP TECHNOLOGY PLATFORM FOR #MYCYBERSALE 2018

FUSIONEX has been selected as the technology partner for #MYCYBERSALE 2018 and will power up the platform by providing a comprehensive system for the nation’s largest online sale, which will take place from Sept 3 to 7 this year.

The annual #MYCYBERSALE event has been dubbed the biggest online sale in Malaysia and provides a multi-channel platform for Small Medium Enterprises (SMEs) and micro enterprises to offer alluring deals, amazing discounts and exclusive promotions for online shoppers to take advantage of.

This event also offers an opportunity for merchants in Malaysia to be seamlessly part of a fast-growing e-commerce community and ecosystem.

More than 600 merchants are expected to ship orders to China, United Arab Emirates, United States, and other countries in Europe and South East Asia.

The event is targeting to surpass RM50 million in export revenue as well as more than RM370 million in gross merchandise value (GMV).

#MYCYBERSALE 2018 is organised by the National ICT Association of Malaysia (Pikom) and supported by the Malaysia Digital Economy Corporation (MDEC).

Pikom and Fusionex have entered into a strategic partnership to bring exciting technology and a comprehensive platform to better serve the needs of industry players.

fusionex founder

Pikom chairman Ganesh Kumar Bangah said: “This strategic partnership with Fusionex offers an improved back-end system to enable merchants to benefit from seamless marketplace transactions and a better reporting mechanism during #MYCYBERSALE. We would like to thank Fusionex for being part of this initiative.”

Earlier, Ganesh had shared that this year’s tag line for MyCybersale is “Shop until you drop!”.

Fusionex founder and group CEO Ivan Teh said: “We are delighted to be a part of this amazing #MYCYBERSALE team (championed by Pikom and supported by MDEC) and look forward to making this a resounding success (for the industry and community). We hope businesses will take full advantage of this inclusive, user-friendly digital platform and program, to expand their reach and market access.

“In today’s world, businesses (whether large corporations or SMEs) can no longer assume that customers will connect and purchase products the way they used to in the past. Today’s customers are savvy and always connected. If merchants are not engaging customers effectively via e-commerce (and via an omni-channel approach), then they’ll be losing out in this era. We hope that Fusionex’s technology platform via MyCybersale will give merchants a leg-up and opportunity to succeed in this space.” https://www.thestar.com.my/business/sme/2014/06/27/built-around-big-data-tech-company-boasts-office-as-futuristic-as-its-products/

TIME FOR HEROES – DATO’ SERI IVAN TEH, THE CEO OF FUSIONEX REMINDS US THAT NOT ALL HEROES WEAR CAPES

Dato’ Seri Ivan Teh stands on one of the three floors that Fusionex’s 60,000 sq ft R&D facility occupies at Plaza 33 in Petaling Jaya, putting on a demonstration of his company’s voice recognition software: “And… lights!” He snaps his fingers, and the elongated ceiling lights dim. One more snap, and the lights beam at full brightness upon his command. Another click of his fingers closer to a room featuring a life-size R2-D2 model (which lets out the occasional excited bleep), and a glass window – previously opaque – turns transparent.

It makes for an impressive, entertaining display of the sort of technological wizardry that Fusionex is capable of achieving but, really, it’s just the tip of a very substantial iceberg. From the time it was founded in 2005, Fusionex has made a name for itself in the global technology industry by specialising in analytics, big data, machine learning, artificial intelligence and, perhaps most importantly, its ability to make sense of vast amounts of structured and unstructured data for its clients. With an official net worth that currently stands at MYR1.2 billion, this is a company that – as Dato’ Teh explains – began with a badminton game and a dream of becoming a superhero.

DATA ENTRY
Born and bred in Petaling Jaya, Dato’ Teh grew up as an academic all-rounder (it helped that his mother was a teacher) with an aptitude for mathematics, science and technology, as well as a love for art and drawing. “At a young age, what I really liked was innovation,” he recalls. “I began looking up to superheroes like Iron Man, Superman, and Batman when I was about eight or nine, so I’d draw them and imagine being a superhero too. It wasn’t their superpowers that I wished for, but I really wanted to solve problems and fight villains.

fusionex founder

“As I got older, I understood that I couldn’t become a superhero in real life, but I still admired Iron Man for his innovation and creativity, where he could bring things like art and science together, the way I wanted to. That’s science technology.” This inevitably drew him towards a degree in computer science, which in itself became a springboard from which to enter the IT industry, propelling him towards managerial positions in multinational companies including Hewlett-Packard, Intel and Accenture.

“When I started working in these organisations, we’d be flooded with a tsunami of data and the problems that stemmed from it, like hospitals and medical centres, where I’d observe long queues and inefficiencies. I thought to myself, ‘What can I use or do using technology and a combination of skillsets to make life better, faster and more efficient? What can I do to change the world?’ These were eureka moments for me and, obviously, it’s important to have a vision – but how do you execute it?” It was only during a badminton game with some of his friends, who were in similar industries, that things began to get moving.

“At one of the sessions, we recognised there were a lot of problems across industries, where people were spending lots of money and yet waiting times at retail outlets, banks, telcos and airlines were bad. A few of us said: ‘There must be a better way of doing this – it can’t be all that bad. We have to be able to challenge the status quo and find a better way forward.’ We wanted to start things together, but many of my friends back then had their own careers and livelihoods to look after, and some of them were about to get married.

“I said: ‘It could be a big risk for you. Would it be something you want to do? Why don’t you let me try it for a couple of months and validate the idea that the demand is actually there? Once we’ve proven that there’s a market for what we’re offering and the business model really works, I’ll invite you to come on board.’ And that’s what I did.” It was – for a time – very much a one-man show, where Dato’ Teh had to do everything from coding software to searching for clients. No stranger to hard work (as a 10-year-old, at his father’s insistence, his school holidays were spent selling bedsheets at textile stores and pasar malams), he persevered.

“For a couple of months, I navigated the waters, finding ways to ensure our skills and ideas would be accepted in the market – which they weren’t, by the way. That was painful. People wanted a track record. But slowly, we started to gain traction and got our first few breakthroughs after six to nine months, thereby validating our model. Once we were more stable and had our first customers, I wanted Fusionex to grow and accelerate, and I couldn’t do that alone. That’s why most of the pioneering team – there were about five of us who started this – are still with us today as we continue to invite more people into the Fusionex family.”

WE COULD BE HEROES
The company’s seemingly light-hearted nickname for its workspace, the ‘Office of Superheroes’, appears to be half a vision of the future and half a teenage boy’s fantasy bedroom when you wander through it, for all the Marvel and DC Comics memorabilia in plain sight. There’s even a sizeable karaoke room with a professional sound system, in which Dato’ Teh shows that he’s not microphone-shy, either. (For the record, he does an excellent rendition of You Raise Me Up, and could give Ed Sheeran a run for his money, too.) But for all the office’s creature comforts, Fusionex’s team – which now consists of over 550 staff – works as hard as it plays.

“It’s an amalgamation of different types of ideas and technology, where villains are no longer beasts or monsters – they’re problems,” he says. “My parents taught me to understand how to bring things together and comprehend the real-world problems that people face. So, where you see poverty, difficulties in various situations, disasters or explosions, how do you use technology and innovation to overcome all of these problems? How do you manifest the qualities of a superhero in real life? That’s what we’re all about.” To illustrate the nature of Fusionex’s operations, he posits the company not just as a source of invention, but a sorter of information – an intelligent base that cuts through all things complex and incomprehensible.

“In any organisation, there are so many problems to pinpoint. In a manufacturing business, you want to ensure you minimise defects and downtime – some of these can have huge financial implications when there are quality issues or a whole batch of goods need to be returned. More severely, if you’re in a chemical plant and have a problem – say, you don’t detect a drastic increase in temperature – it can result in a hazardous explosion that could cause fatalities. What we do for our clients is identify their problems together with them, because we don’t know everything, so we have to operate in a consultative way.

“But we work with them in a diligent and very focused manner. Fusionex combines its technology with the expertise of our team to solve a client’s problems using data technology. We believe data is the new crude oil. It’s something that is extremely important, but will remain raw data unless we collect, store, process and analyse that data so that it becomes meaningful and insightful to our customers. It gives them foresight as to what they should do, based on what happened in the past, so they can plan better for the future. That’s what we do for our clients, all of whom come in different shapes and sizes, big and small.”

Gone are the days when Fusionex Founder Dato’ Teh would have to persuade potential clients to give Fusionex even a passing glance – although that may, in part, be due to a heavyweight replica of Thor’s hammer, Mjölnir, which resides in his office (“I don’t have to say much when I’ve got it in my hand,” he smiles). The company’s client roster now includes significant local and international clients such as Starwood, Ritz Carlton, Marriot, CIMB Group, American Airlines, Dell, Intel, Fedex, AEON and Malaysia Airlines, spanning a diverse variety of industries – all of them looking to Fusionex to give them the cutting-edge insights they need.

“Different industries will be different, but the crux of it is that data still resides across all industries, and when we take a look at it – as we draw parallels and compare one industry to another – while they’re adjacent, there are similarities as well,” he expounds. “From day one, our mantra was to solve problems. It wasn’t to go out there and sell a box or sell hardware – that doesn’t motivate me. We wouldn’t have been able to create new jobs or more ideation, which is what lies in Fusionex’s DNA – that fusion between business, technology and the excellence of the experience.” https://twitter.com/FusionexInt/status/1022431008618999808

Fusionex Founder Follows Unique Funding Path

Ivan Teh and his firm Fusionex International, offer an usual and highly successful path in reaching the heights in the cumulative growth rate since its launch in 2006.

Selangor MY, Malaysia – July 10, 2018 /MarketersMedia/ —

Fusionex International and Fusionex founder are pleased to announce that the AIM-listed big data company began in 2006 with little more than the efforts and vision of Teh, and has achieved an astounding 1,000 percent cumulative growth rate in the ensuing years. Perhaps even more notable is the fact that Fusionex used no angel funding or venture capital sources. The only source of funding was cash from satisfied customers and clients. During the initial six months following the launch, Ivan typically put in eighteen-hour workdays to identify customer needs, as well as to build effective software platforms.

fusionex founder

In a recent discussion with an interviewer, the Managing Director explained, “I was resolved to provide my customers a solution which could be easily utilized in order to make sense of their masses of data. It is easy to become confused when looking at the many big data options available. Most companies don’t want to do the work required, and may not have the necessary skill sets to do the job. This was my starting point.”

“If you have tried to do the work of solving complex problems while making the solutions easy to use, you will understand the difficulty of the task I set for myself. I did everything from preparing the templates to coding the software to completing documentation” he says. “The positive aspect of that experience was the intensity and challenge of the period. I never was bored.”

In December 2012, Fuxionex was listed on London’s Alternative Investment Market (AIM). During the pre-IPO contact period, an overwhelming 38 of the 50 institutional investors who were approached came on board. Fusionex had US$62.8 committed to it, with the IPO offer oversubscribed by 300 percent. Ivan made the decision to take only US$18.9 million, which gave the firm immense credibility. There were no selling shareholders on the company’s IPO. http://www.klkntv.com/story/38616519/fusionex-founder-follows-unique-funding-path

Fusionex Founder Ivan Teh Featured In Forbes

Fusionex International is pleased to announce that founder Ivan Teh has been recognized by Forbes as a key figure in the Malaysian Big Data World. The Fusionex founder and Managing Director are linked to an ASEAN-based software group, which provides solutions to firms opening up to digital transformation, in order to compete effectively in the global marketplace. Ivan Teh is well-acquainted with the struggles and difficulties associated with the start-up scene. Founders may be unable to pay themselves for many months and must work around the clock to beat the statistics.

Thanks to Teh’s perseverance, Fusionex today is reaping the benefits of creating its own software solutions. The main focus of the company is Big Data Analytics (BDA) and the Internet of Things (IoT). BDA uses advanced software coupled with massive computing power. The software examines data of various types in order to determine real patterns, associations, and trends. IoT provides sensors which have connectivity across networks, permitting them to collect data and exchange it.

Ivan Teh

According to Teh, speaking in an interview recently, “I understood what the market required in BDA and IoT, thanks to my previous experience working in multinational firms. There was a huge wave of data building up from the past few years, and effective methods of utilizing the data were needed. Through repeated attempts at solutions development and many long days, I was able to secure paying customers. My role in the company originally encompassed everything from administrative and managerial tasks to coding.”

The expectations for the use of BDA and IoT are promising ones. By 2019, the BDA market is expected to reach US$187 billion, while the IoT market will expand to US$1.7 trillion by 2020. Fusionex is positioned to capture a large portion of this market, particularly among the ASEAN nations.

Fusionex already has big-name clients using its software. Companies such as Hewlett-Packard, Daimler, Volkswagen, the Royal Bank of Scotland, United Overseas Bank, CIMB Group, MetLife and Starwood Hotels and Resorts as well as AirAsia, Kasikornbank and Resorts World are but a few examples. In fact, Fusionex, which is listed on the London Stock Exchange’s Alternative Investment Market (AIM), has the distinction of competing with the likes of IBM, Oracle, and SAP. http://www.nbcrightnow.com/story/38616520/fusionex-founder-ivan-teh-featured-in-forbes

SME FORYOU: Using data tech to Keep SMEs Ahead of Competition

Leading data technology specialist Fusionex released its revolutionary platform called SME FORYOU, during the International Retail and Franchise (MIRF) 2018 Exhibition at the Kuala Lumpur Convention Centre (KLCC). Designed for small and medium enterprises (SMEs) in the region, the user-friendly platform is aimed at encouraging SMEs to adopt Big Data Analytics (BDA) and kick-starting their e-commerce plans, to enable them to promote their brands and products to the local and international market.

SME FORYOU will help SMEs to fast-track overall sales, acquire new customers while increasing the rate of repeat transactions. The platform connects businesses online by exposing them across local and international marketplaces, granting them access to a ready database of more than 8 million customers.

Ivan Teh

The SME FORYOU platform received positive feedback at the MIRF event. Via the platform, SMEs can expand their market across more than 8 million captive audiences, focus on their brand and engage with customers anytime, anywhere, and anyhow. Even some of the established major companies have adopted Fusionex’s FORYOU platform including banks, insurances companies and chain outlets, alongside a host of other SMEs that operate convenience stores, restaurants, travel agents, optical stores and many more.

Fusionex Founder and Group CEO Dato’ Seri Ivan Teh commented, “Fusionex has helped a multitude of companies embrace Analytics and Big Data, working with them in their digital transformation journey towards becoming an effective data driven organization. One of our missions is to see SMEs in this region grow and scale. This is possible by harnessing the power of Big Data.”

He continued by stating that, “We want to do our part in enabling SMEs to grow beyond national borders. The Fusionex powered SME FORYOU platform comes equipped with a host of features and benefits for its users, but a key focus is to help prioritize SMEs’ needs to be quickly and effectively equipped with e-commerce capabilities and borderless trading.”

Fusionex Founder & Group CEO Dato’ Seri Ivan Teh, together with Malaysia’s Domestic Trade & Consumer Affairs Minister Dato’ Saifuddin Nasution Ismail, alongside a number of distinguished guests and the media witnessed the launch of SME FORYOU at the MIRF Exhibition 2018.

Another highlight for the event was a donation being made to the Malaysian Red Crescent Society (MRCS) for the Penang flood relief efforts. Through a charity drive made up of several events, PIKOM raised RM20,000, where the amount was matched by Fusionex with an additional RM20,000, making it a total of RM40,000 donated to MRCS.

For more info on Ivan Teh: https://enterpriseasia.org/apea/malaysia/awards/my-2014/ivan-teh/

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