Category: Fusionex

PIKOM and Fusionex Inspires New Generation of Leaders at PIKOM Leadership Summit 2017


KUALA LUMPUR, Malaysia–(BUSINESS WIRE)–Fusionex was invited to chair the PIKOM Leadership Summit 2017 which was held at the Connexion Conference & Event Centre (CCEC) @ Bangsar South recently.

The annual Summit by PIKOM is aimed to inspire a new generation of leaders in the Information and Communications Technology (ICT) industry. This year the theme that was adopted was ‘The Road to Success: Tales from Successful Leaders’. As a strong advocate for the adoption of technology as a means to improve businesses, modernize cities, and change lives for the better, Fusionex was invited to participate in the Summit, in line with its plans to drive digital transformation across the country and region.

The programme for the Summit included topics on the Industrial Revolution 4.0, Digital Transformation, Entrepreneurship, and Investment. Other participants include Malaysia Digital Economy Corporation (MDEC), MAGIC, SME Association of Malaysia, Sime Darby, Rakuten Trade, iPay88, Cradle, MAVCAP, and a slew of exciting startups.

Fusionex Vice President for New Technologies Raju Chella delivered his keynote speech on ‘Why Our Future is ABC (Analytics, Big Data and Cloud)’. MDEC Vice President of Enterprise Development Gopi Ganesalingam and MAGIC CEO Ashran Dato’ Ghazi were among other keynote speakers.

Highlights for the event included the signing of a Memorandum of Understanding (MoU) between fusionex ceo and PIKOM to accelerate the rate of BDA adoption in Malaysia. The MoU will see both parties working together to provide training in BDA and encouraging the building of data skillsets within the workforce, which is a crucial step towards Malaysia becoming a BDA hub in the ASEAN region.

This push to create, educate, and inspire a new generation of data professionals is in line with the MDEC’s aim to have 20,000 data professionals by the year 2020. Fusionex continues to do its part in this farsighted effort by contributing the services of its Fusionex BDA Academy, which include training courses in Data Analytics, Data Engineering, and Data Science.

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

fusionex ceo“The world has gotten smaller, and is now much more interconnected. The people of today must have a global mindset. Innovation knows no boundaries. The revolution of the digital era will impact every corner of the earth,” said Fusionex CEO and Managing Director, Dato’ Seri Ivan Teh, Organizing Chairperson for this year’s Summit. “I hope this event managed to motivate and inspire everyone about the endless possibilities that this innovative industry of technology holds.”

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.

https://www.businesswire.com/news/home/20171123005074/en/PIKOM-Fusionex-Inspires-New-Generation-Leaders-PIKOM

Fusionex

Powering Alibaba’s eWTP with big data analytics, AI and machine learning

KUALA LUMPUR: It has been more than a year since the Digital Free Trade Zone (DFTZ) initiative was launched in Malaysia and although public attention was only revived a week ago during the launch of Alibaba Group Holding Ltd’s first regional office here, several local companies have already been hard at work making the ambitious project a reality.

Big data analytics firm Fusionex International Plc is one of them, having led a consortium which secured a contract to provide the e-Services platform for the DFTZ from the Malaysia Digital Economy Corp.

The awarding of the contract was announced in November last year and according to Fusionex, has since been up and running with more than 3,000 small and medium enterprises (SMEs) on board currently.

“More and more of [these companies] are starting to appreciate that it is important to level up and capitalise on the robust growth in e-commerce and the export market,” said Datuk Seri Ivan Teh, Fusionex founder and chief executive officer of Fusionex.

He added that many local SMEs that Fusionex has spoken to are receptive, open-minded and cognisant of the global language.

“They are open and want to embrace technology as long as it’s easier, faster, better, and more cost-effective than the status quo. In short, they are constructive but might be facing challenges in areas such as market access, funds, modern skills and technology. This is where DFTZ’s e-Services can assist them,” Teh told The Edge Financial Daily in an email exchange.

fusionex founder

The platform is key to realising the e-World Trade Platform (eWTP) that has been one of Alibaba’s key initiatives under the DFTZ banner and aims to provide Malaysian SMEs access to global consumers via e-commerce.

“The e-Services platform functions as a one-stop digital trade facilitation platform, that is integrated with a multitude of business service platforms, e-marketplaces, government agencies, logistics providers, freight forwarders, agents, SMEs and other service providers,” said Teh.

The platform aims to “bridge the gap in terms of know-how, reduce costs, as well as avoid or minimise unnecessary delays and encumbrances associated with the old way of manually doing things,” he said, adding that it is meant to be highly scaleable and inclusive.\

According to Teh, the platform is powered by big data technologies, artificial intelligence (AI) and machine learning and is “designed to help merchants — regardless of shape and size — to level the playing ground, and do so without incurring exorbitant costs”.

Fusionex is also riding on the strength of Alibaba Cloud, what with being the latter’s official strategic partner in this region.

“They are a great, committed partner,” Teh said of Alibaba Cloud, noting that the collaboration is synergistic as the latter “has a great cloud offering, whereas Fusionex is a leader in big data technology, AI and machine learning with a strong international reputation.”

While Fusionex may not be a household name to most Malaysians, it has certainly made waves overseas. The company had, until July last year, been listed on London’s Alternative Investment Market.

However, Teh had decided to take the company private after five years on the market due to what he reportedly said was a persistently undervalued stock.

Without disclosing any figures, Teh shares that Fusionex has “invested significantly” and will continue to invest as it is fully committed to ensuring the success of the e-Services platform.

He did not reveal the names of the group’s partners in its consortium, but that they are local players with the relevant expertise and experience.

Teh pointed out that like the DFTZ itself, the e-Services platform is not constrained to physical hubs such as the KL Aeropolis logistics hub being developed by Malaysia Airports Holdings Bhd and Cainiao Smart Logistics Network (Hong Kong) Ltd.

“e-Services will be an open platform that welcomes multiple business service providers, be it forwarding agents, logistics players, and of course very importantly, good local SMEs with great Malaysian products.”

“The cost benefits and efficiencies these players enjoy would ultimately trickle down to consumers [in the form of] faster, more efficient and more cost-effective products and fulfilment,” he said. https://www.owler.com/company/fusionex-international

Fusionex CEO Ivan Teh bags technopreneurship award

Kuala Lumpur: Fusionex Managing Director/Chief Executive Officer, Datuk Ivan Teh, was awarded the ‘Technopreneur of Excellence 2017 Award’ at the National ICT Association of Malaysia (PIKOM) ICT Awards ceremony recently.

In a statement Monday, Fusionex Ivan Teh said, the award was in recognition of its achievements and contributions towards growing and supporting the information and communications technology (ICT) sector in the region and was reserved for individuals demonstrating ICT best practices.

fusionex ivan teh

“The award is also to commend the company’s diligence, commitment and continuous innovation.

“It marks the continuous excellence exhibited by Fusionex, helmed by Teh, and follows the firm’s earlier win of the ‘Company Excellence Award’ in 2016,” it said.

The global information technology company said as a premier data technology player, Teh has also led the firm to strike a strategic alliance with Alibaba Cloud, one of the fastest-growing cloud providers in the world.

“The company’s technology is also incorporated into the syllabus of certain local universities to encourage homegrown ICT talent,” it said. – Bernama

For more news: http://www.dailyexpress.com.my/news.cfm?NewsID=120484

The entrepreneur who turned down US$63m

PETALING JAYA, July 21 — Fusionex Ivan Teh, founder and managing director of AIM-listed Fusionex International Plc, has quietly gone on building a big data company that has had an eye-popping 1,000 per cent cumulative growth rate since its launch in 2006.

The yearly CAGR (compounded annual growth rate) is 40 per cent. In 2012, revenues grew 27.93 per cent to £31.31 million (RM160.38 million) from £24.48 million in 2011, while net income improved 56.65 per cent from £8.13 million in 2011 to £12.74 million.

There are many things that stand out about Ivan, but one of them is this – his business had no angel investor, nor any venture funding. It was purely built on cash flow from satisfied customers and, in the first six months, on the sweat and toil of Ivan who put in 18-hour workdays to understand customer needs and build the software platform himself. He was a one-man show.

“It was an intense period,” he concedes, looking back. “I was speaking to my contacts and potential customers trying to understand their needs and to get a finger on the pulse as to why people would purchase my software. This was then followed by a lot of thought processes that went into trying to do something different.”

fusionex ivan teh

And what was this something different?

Nothing sexy, really. He just resolved to give customers a solution that was easy to use and effective to help them make sense of their data.

“People get confused. There are a lot of options out there to build your own big data solutions but in all honesty, most organisations don’t care, or don’t have the skill sets. This was the pain point I wanted to solve,” he says.

As anyone who has ever tried it knows, the hardest thing to do is to hide the complexity of very tough problems behind an easy-to-use front-end solution for customers.

This then translated into building the platform that Ivan worked on himself.

“From preparing the templates to coding the software to the documentation, I did it all myself,” he says, adding ‘pau ka-liao,’ colloquial Hokkien that roughly translates to ‘doing everything by one’s self.’

“It was an intense, exciting and, to be honest, painful time, but the great thing is that you woke up every morning highly motivated because you knew you were not doing anything monotonous,” he says.

Fast forward from those startups days in 2006 to Dec 18, 2012 and Fusionex listed on London’s Alternative Investment Market (AIM) exchange with a big data focus, one of the sexiest terms in tech today.

Indeed, during the pre-IPO (initial public offering) roadshow, 38 of the 50 institutional investors who approached came on board. “The response was overwhelming,” says Ivan.

In all, Fusionex had RM200 million (US$62.8 million) committed to it, with the IPO offer oversubscribed by 300 per cent.

Amazingly, Ivan only took RM60 million (US$18.9 million), which is what his company had set out to raise. “I was told it was quite unheard of. But to me, taking all that money comes with a sense of responsibility. You have to do something in return. We could have taken the money and spent it differently and on the wrong strategy. That does not help your credibility,” he says.

Instead, what he did earned Fusionex huge credibility and translated into the fact that there were no selling shareholders on its IPO. In fact, everyone was interested to buy more.

Ending Dec 31 2012, Fusionex’s share price stood at £3.965 (RM21.48), more than double its IPO price of £1.70 (RM9.20) on Dec 18 2011.

With big data being its key focus since 2011, Ivan expects Fusionex to build on the momentum it has, aided by the RM50 million (US$15.7 million) it has committed to invest in R&D (research and development) over the next three years to strengthen its big data and analytics core. — Digital News Asia

Read more at http://www.themalaymailonline.com/tech-gadgets/article/the-entrepreneur-who-turned-down-us63m#cgoIkQs7MT2wx4pP.97