Key points:

• President Donald Trump announces new tariffs on Canada, Mexico, and China.
• US Dollar Index surges 1.3 per cent, as inflation concerns rise with tariffs acting as indirect taxes.
• Gold peaks at US$2,817.18/oz before settling lower, while WTI crude jumps 1.6 per cent on tariff speculation.
• Bitcoin tumbles over five per cent in a day, with major cryptocurrencies collectively losing US$1 billion in futures liquidations.
• Canada and Mexico retaliate with counter-tariffs, while China prepares to challenge the US at the WTO.

3 February 2025 started with turbulence in the global markets; President Donald Trump’s announcement of new tariffs on Canada, Mexico, and China has sent ripples of concern through markets worldwide. As these measures take effect on Tuesday, February 4th, the economic landscape braces for impact, with Canada and Mexico swiftly responding with counter-tariffs and China preparing to challenge the move at the World Trade Organisation (WTO). This scenario is not just a test of economic resilience; it’s a litmus test for the global community’s ability to navigate through politically charged economic policies.

The immediate aftermath of Trump’s tariff declarations was a clear retreat in global risk sentiment. The MSCI US index saw a 0.5 per cent drop, with the energy sector suffering the most, plummeting by 2.7 per cent. This sector’s sensitivity to trade policies stems from the direct impact tariffs have on oil and gas imports from Canada and Mexico.

Meanwhile, the US Treasury market showed a mixed response; the 10-year yield rose slightly by 2.2 basis points before retracting in Asian sessions, while the 2-year yield fluctuated, reflecting the market’s divided views on the short-term economic implications of these tariffs.

The US Dollar Index surged by 0.5 per cent to close at 108.37 on Friday, with an additional 1.3 per cent increase in early Asian trading. This spike can be attributed to the anticipation of inflationary pressures that could compel the Federal Reserve to maintain, if not increase, interest rates. Inflation fears are not unfounded; tariffs essentially act as taxes on imports, potentially increasing prices for goods both at home and abroad.

Gold, traditionally seen as a safe haven, briefly touched a record high of US$2,817.18 per ounce but settled at US$2,798.41, still reflecting investor anxiety amidst this economic uncertainty. Conversely, oil prices reacted positively late in the trading session after Trump hinted at forthcoming tariffs on crude imports, pushing WTI up by 1.6 per cent to US$73.70 per barrel.

Also Read: Gold rises and tech falls: A tale of two markets

In Asia, the economic narrative was not much brighter. China’s manufacturing PMI, a key indicator of industrial activity, continued its downward trend for the second month, highlighting the vulnerability of the world’s second-largest economy to external trade pressures. This, coupled with the looming tariffs, has cast a shadow over Asian equity markets, which opened lower in response.

The cryptocurrency market, often seen as a barometer for speculative risk, has not been spared from this wave of economic caution. Bitcoin, the flagship cryptocurrency, took a significant hit, dropping over five per cent in a single day and shedding eight per cent over the week to hover around US$96,879.

This decline was echoed across other major cryptocurrencies like Ethereum, XRP, and Solana, with the market witnessing US$1 billion in futures liquidations within 24 hours. The fear here is not just the immediate impact of tariffs but also the broader economic uncertainty they herald, potentially affecting consumer spending and, by extension, investment in high-risk assets like cryptocurrencies.

From my perspective, these developments underscore a critical moment for global trade dynamics. The imposition of these tariffs, while aimed at addressing issues like the flow of fentanyl and illegal immigration, might inadvertently lead to a broader economic confrontation. The retaliatory measures by Canada and Mexico, combined with China’s legal challenge at the WTO, could morph this into a full-blown trade war, the likes of which we’ve seen in recent years but with potentially more severe implications.

The immediate advice for investors would be to adopt a cautious stance, focusing on diversification and perhaps moving towards more stable, less tariff-sensitive assets. However, this situation also presents an opportunity for strategic investments in sectors that might benefit from domestic manufacturing incentives or those that are less exposed to international trade frictions.

Ultimately, the global economy is at a crossroads where political decisions are increasingly dictating economic outcomes. The true cost of these tariffs might not just be in the immediate market reactions but in the long-term damage to international trade relations and global economic stability. As we navigate these stormy seas, the call for dialogue and cooperation between nations has never been more urgent, lest we all sink into the depths of protectionism and economic isolation.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image courtesy of the author.

The post Navigating the stormy seas of Trump’s tariff wars appeared first on e27.

As I sit at the intersection of technology and leadership, the glaring gender gap in executive roles across industries comes as no surprise. Yet, LinkedIn’s latest workforce report serves as a stark reminder of the persistent inequality that permeates boardrooms worldwide.

Even in sectors where women form the majority of the workforce, such as Education and Wellness, leadership roles remain male-dominated. Industries like Construction and Manufacturing exhibit an even wider gender gap in leadership positions.

That is why, in my current role as the Co-Chair of the Digital Trust Chapter at SGTech and CIO at Thoughtworks, I uphold diversity and inclusion as core principles that define our organisational ethos and contribute to our success. I am dedicated to nurturing an environment where every individual feels valued, respected, and empowered to share their unique perspectives. Our company’s stance on D&I is resolute: We strive to cultivate a workplace that celebrates diversity, advocates for equity, and fosters inclusivity across all levels.

To realise these objectives, we have instituted a variety of initiatives designed to promote DEI within Thoughtworks.

Our primary objectives include integrating DEI guidelines into our operations and championing equality in our talent strategy. From recruiting to growth and retention, our commitment manifests through defining measurable DEI metrics to track and assess our performance throughout the talent journey and setting up a governance structure called the DEI Council.

We also aim to achieve and maintain a 40 per cent representation of women and underrepresented gender minorities in leadership roles, ensuring that our leadership reflects the diversity of our workforce. We also prioritise crafting employee engagement surveys to accurately reflect our team members’ sentiments and concerns, as well as setting DEI goals with functions and leadership to ensure alignment with departmental objectives.

Additionally, we establish and support Employee Resource Groups such as the LGBTQIA+ community and Disability Inclusion Group to foster a sense of belonging and advocacy among diverse identities within our workforce.

Also Read: Invest in women, accelerate progress: Why gender equality matters now more than ever

Among our many initiatives, several standout examples include the Women in Leadership Development Program, which serves as a community-building and support structure for women and underrepresented gender minorities, significantly contributing to mental well-being and retention.

Personally, as a workshop facilitator, mentor, and sponsor for this program, I’ve witnessed its profound impact firsthand. We prioritise leadership promotion transparency to cultivate a culture of openness within our organisation, holding leaders accountable for their actions and decisions.

Setting relevant DEI goals with functions and leadership is crucial for fostering an inclusive culture where considerations of diversity, equity, and inclusion are integral to leadership roles. It emphasises that success goes beyond financial objectives, encompassing broader societal values.

Our commitment to diversity extends beyond gender to initiatives like Disability Inclusion and E-Accessibility Training, impacting not only our internal community but also our clients and partners, fostering holistic values and driving engagement and community involvement.

The positive impact of these initiatives on our organisation has been profound. We have seen increased employee engagement, improved morale, and greater innovation as a result of our commitment to DEI. Real-life examples abound of employees who have felt empowered to bring their authentic selves to work and contribute to our collective success.

Looking ahead, our plans to maintain and grow this initiative are multifaceted. We will continue to invest in DEI training and education, ensuring that all employees have access to resources that promote understanding and empathy.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image courtesy: 123RF

This article was first published on April 3, 2024

The post Navigating success in the digital era: The crucial role of Diversity, Equity, and Inclusion (DEI) in leadership appeared first on e27.

In recent weeks, I have observed an ongoing debate about Malaysia’s startup ecosystem, particularly among tech venture capitalists (VCs). The common feedback includes concerns over a lack of high-quality deals, weak technological intellectual property (IP), a small consumer market, and an underdeveloped growth ecosystem. These factors have led many VCs and investors to focus on larger markets such as Thailand, Indonesia, the Philippines, and Vietnam.

As someone who started my first startup in Malaysia in 2004, I have had the privilege of witnessing the evolution of Malaysia’s business ecosystem over the past two decades. Ironically, while some may argue that Malaysia has not changed much, its entrepreneurial resilience and strengths have remained constant.

In this article, I aim to present an evergreen perspective on Malaysia’s business ecosystem and why it deserves a closer look.

Malaysia’s macro advantage: Cost-effective outsourcing and talent

Malaysia’s unique advantages lie in its diversity. With a multicultural population proficient in multiple languages, including English, Malaysia serves as an excellent partner for regional and international businesses. I have noticed an increasing willingness among younger Malaysians to engage in English in the past five years, whether in hospitality or business, making communication seamless for foreign investors and partners.

Malaysia also complements Singapore, as evidenced by the Johor-Singapore Economic Zone initiative recently endorsed by the two countries’ leaders. Malaysia benefits from Singapore’s economic spillover due to its larger workforce and natural resources. For example, a co-working space operator in Kuala Lumpur shared with me that many tenants are Singaporean companies expanding their operations into Malaysia. 

Heightened geopolitical tensions have further amplified Malaysia’s appeal. As businesses diversify their manufacturing operations beyond China, Malaysia is becoming a preferred destination for business process outsourcing and manufacturing activities. These trends are likely to drive growth in the coming years.

Embedded multi-generational family businesses: A hidden strength

Small and medium enterprises (SMEs) form nearly 97 per cent of Malaysia’s 1.1 million corporations and contributed 39.1 per cent to GDP in 2023. This signifies an abundance of entrepreneurial activity in the country.

At TRIVE, we’ve delved into the ecosystem over the past two years and discovered a wealth of successful, cash-generating family legacy businesses led by first- and second-generation entrepreneurs. These families have spent decades building their industries and expanding their footprints across the nation.

Also Read: Navigating the AI maze in Malaysia’s martech: Striking a balance between efficiency and ethics

On average, these family-run businesses generate revenues ranging from RM30 million (US$6.7m) to RM200 million (US$44.4m), often with robust margins and significant cash flow. Many of them operate in traditional sectors tied to Malaysia’s core commodities, such as palm oil, rubber, timber, and agricultural products. Others are capitalising on the business processing outsourcing boom, leveraging Malaysia’s cost-effectiveness and skilled workforce.

Despite their proven track records, these traditional businesses are often overlooked by VCs. The perception is that they lack scalability and, consequently, the potential for high returns. Ironically, some of these same companies have gone public on Bursa Malaysia, achieving significant growth and recognition.

Bursa Malaysia: A thriving stock exchange

The resilience of Malaysia’s entrepreneurial ecosystem is perhaps best reflected in the performance of Bursa Malaysia. In 2024, the stock exchange recorded 55 IPOs, raising RM7.42 billion (US$1.65b) in proceeds—its best performance in 19 years. By comparison, Singapore’s stock exchange had only four IPOs during the same period.

An IPO advisor I spoke with explained that nine government and quasi-government funds actively support the local stock market, driving liquidity and enthusiasm among participants. This support, combined with strong retail investor participation, has bolstered the IPO market.

Among the notable IPOs in 2024 was 99 Speed Mart, a household name in Malaysia with thousands of retail outlets nationwide. The company debuted with a market capitalisation of RM13.86 billion (US$3.17 billion), underscoring the potential of Malaysia’s consumer-driven businesses to attract investor interest.

Growing M&A interest in legacy businesses

In addition to IPO activity, there is growing interest in mergers and acquisitions (M&A) involving established Malaysian legacy businesses, particularly from international investors in China, Singapore, and North Asia. This trend is driven by geopolitical factors, as companies seek to diversify their supply chains and manufacturing bases into Southeast Asia.

Another factor contributing to M&A activity is the perceived reduction in political risk under the two-year-old Anwar Ibrahim-led government. The administration’s relative stability has increased investor confidence in Malaysia.

Although the M&A deals are not yet at large-ticket sizes, transactions in the range of US$5 million to US$20 million are becoming more common, as shared by a friend in the M&A space. This demonstrates a steady appetite for established, profitable businesses in traditional industries.

Navigating Malaysia’s investment landscape

Investing in Malaysia requires a different approach than in other markets. While many fund managers rely on transactional methods—evaluating pitches, conducting analyses, and seeking investment committee approvals—this method alone often fails to capture the nuances of Malaysia’s business culture.

Also Read: Clean energy in Malaysia: Opportunity amidst uncertainty

Malaysia operates on relationships, not transactions. Building trust takes time, often months, and investors must be prepared to engage deeply with local entrepreneurs. At TRIVE, our approach involves engaging with the next generation of family business leaders before meeting the patriarch. Understanding family dynamics is crucial to unlocking investment opportunities. And these takes a few months to years, something which international VCs are unwilling to spend time on.

It’s also important to note that the best deals in Malaysia are rarely found at conferences or public forums. Instead, they emerge through trusted networks of next-generation business owners. Malaysians place immense value on personal introductions and relationships, and being introduced through a mutual connection can open doors that would otherwise remain closed.

Investors must also operate locally. This means having a well-networked Malaysian team and consistently demonstrating a helpful, value-driven approach rather than focusing solely on financial returns. Establishing a reputation for reliability and partnership is key to accessing Malaysia’s best investment opportunities.

A market worth revisiting

Malaysia’s startup ecosystem may not have the scale or technological edge of some of its neighbours, but its strengths lie in its resilience, diversity, and deeply rooted entrepreneurial culture. From its multilingual talent pool and cost-effective outsourcing opportunities to its thriving family businesses and vibrant stock exchange, Malaysia offers unique opportunities for investors willing to adapt their approach.

As the world continues to navigate geopolitical shifts and supply chain diversification, Malaysia is well-positioned to benefit from these trends. For those who take the time to understand its market dynamics, Malaysia remains a steadfast and rewarding place for entrepreneurial success.

Reach out to me if you are keen to invest into TRIVE’s Private Equity fund that focuses on Malaysian family businesses.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image credit: Esmonde Yong

The post Malaysia remains steadfast in its entrepreneurial success appeared first on e27.

The post Unlocking startup investment: The vital role of virtual data rooms appeared first on e27.

This is a question the entire Storya founding team grappled as we look back on our journey at the startup. Raising from VCs is not guaranteed. Most statistics note that less than one per cent of startups receive VC funding.

That being said, we had already succeeded in raising from angels, had built a product that was loved by its audience, and perhaps most importantly, we had assembled an incredible, talented team to push the startup to its next level. We truly believed it would happen. But it did not.

Like many entrepreneurs, we grappled with questions of funding and sustainability. The allure of VC funding is undeniable – it promises rapid growth and the realisation of ambitious dreams. Yet, it’s a path lined with complexities and unintended consequences.

Reflecting on our experiences and those of others, we’ve come to see both seeking and getting VC funding as a double-edged sword. Patreon, a platform we admired for its creator-centric approach and for its ability to successfully raise funds was an important example.

Patreon was a big inspiration for what we were trying to do with Storya. Our app was meant to be something like Patreon but useful from end-to-end for the creation of content with powerful monetisation tools. But it turns out Patreon’s biggest mistake was taking US$400 million in VC funding, pushing the company valuation to an unrealistic US$4 billion.

While the company has grown to become a staple of the creator economy, many are now questioning whether it has a future at all. The need to squeeze out ever greater profits at higher speeds to repay those investors weighs heavy on its fate.

This case highlights a critical challenge: opening the door to VCs can inflate expectations, creating a chasm between achievable goals and investor demands.

But it’s not just about the numbers. The essence of what makes a startup innovative can get lost in this translation. The pressure to meet growth targets often leads to compromising the very ideals that sparked the venture. Patreon’s shift in business model, driven by VC pressures, is already eroding its foundational values.

Also Read: How do you raise VC funding as a student entrepreneur? Find out the answers here

Back to our own journey: after contacting through various channels hundreds of VC funds (still a drop in the bucket of the thousands and thousands that exist), one issue was that fundraising had become its own business line. The VC outreach, pitching, follow up, tracking, and other corollary activities, ended up taking 50 per cent or more of his working time for nearly a year.

As the CEO, it eventually became clear there was a toxic cycle at play. The more difficult it became to close the funding round from VCs, the more time we spent on it, at the expense of managing the rest of the team, the product and the customers, which over time made our traction numbers less appealing, although we were adding thousands of users to the app. Somewhere along the line, the balance between seeking funds to keep building, and actually running the business, was broken.

There were many rookie mistakes at play here. As a first-time founding team, striking the right balance between the many aspects involved in launching a successful tech startup was nowhere near guaranteed.

External conditions matter

Other massive factors played a role of which at least two are worth mentioning, the macro funding environment and the appalling diversity record in VC funding. On the first, we just had bad timing: our funding campaign kicked into gear in late 2022, by which time overall funding going to early stage startups was already tanking due to changing economic environment, rising interest rates, and more.

We heard from several friends in the startup ecosystem both in Singapore and Silicon Valley that while many VCs continued to take pitch meetings, very few had any actual plans to sign checks given the situation.

The second factor is the one that left that bitterest taste in us. We launched Storya to champion diversity in publishing, leveraging technology to achieve it. Our fundraising experience showed us that while most VCs like the put diversity somewhere in their “belief” statements or “about us” web pages, the reality is far, far more depressing. As we have documented during the process:

• VCs told us during actual pitch calls (facing our entire diverse team) that diversity did not matter in investment decisions.
• We were penalised for pitching under adverse conditions (e.g. blackouts) because of the geographies we operated from, like South Africa.
• A major California university startup program, which had a dozen people on its diversity committee, hang up on us when we raised the objection that their scheduling made it impossible for a diverse team from Africa and Asia to participate in their pitching sessions.

And that is just a taste of what we dealt with, despite the fact that Storya still had a white, male CEO. It made us empathise all the more with the insane challenges faced by startups that do not tick any of the VC’s preferred ‘boxes’.

Also Read: Singapore Budget 2024: For startups, talents and funding remain key challenges this year

As the fundraising winter continues, we read that funding going to women-only founded startups, for example, has contracted even further, reaching its lowest level since 2016, according to Morningstar statistics. The diversity challenge is real, and it is hurting innovation worldwide.

What are the lessons here?

We agree that whatever project comes next, self-sufficiency from a revenue perspective will be non-negotiable. While we do not exclude the possibility of fundraising in the future, we would take a “sustainable revenue first, external funding later” approach. It is partly a result of the tough experience we had.

But it also comes from the simple realisation that the era of easy startup funding has been dead since at least 2021, and is unlikely to come back.

Part of it is also about accepting that there we just do not easily fit the typical founder profiles VCs look for, in terms of background, university attended. We chose to be open about the struggle of diversity in VC funding, but it took a toll on us, as a team and individually. It caused stress and anxiety we would not choose to live through again soon.

So for now, we keep our heads down, continue with our research, brainstorming, experimenting, and building. Thanks again for being on this voyage with us!

This article originally appeared on the newsletter Praveen & Paolo on Tech.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

This article was first published on March 7, 2024

The post What did we learn from failing to raise VC funding? appeared first on e27.

The prospect of a second Trump presidency is creating ripples of uncertainty across the climate technology landscape. Known for motto like “Drill, baby, drill” or calling climate issues all part of a “hoax”, a Trump return to the White House could reshape clean energy funding worldwide, forcing investors, nations, and startups to adapt. The potential consequences extend well beyond US borders, impacting global geopolitics and climate innovation, particularly in Southeast Asia (SEA).

Here’s a closer look at what may lie ahead under Trump 2.0.

For SEA: One less partner and one less competitor

Southeast Asia’s clean energy initiatives could face major funding challenges if Trump follows through on promises to cut climate spending and focus on domestic industries. The US is currently a key partner in the Just Energy Transition Partnership (JETP) programs with Indonesia and Vietnam, designed to help these countries shift away from coal and adopt cleaner energy sources. However, a Trump presidency could see the US disengage from these efforts, part of what experts call a likely “repeat of rollbacks and repeals.”

Such a move could significantly reduce pledged funds. The US has committed US$2 billion of the US$20 billion pledged to Indonesia by wealthy nations and financiers, and US$1 billion of the US$15.5 billion allocated for Vietnam. A full withdrawal would leave these JETP programs struggling for resources—at a time when funds are already slow to materialise.

That said, an immediate shock is unlikely. The US government isn’t a major direct funder of Southeast Asia’s energy transition. According to Joshua Crabb, head of Asia-Pacific equities at Robeco, bilateral US funds for clean energy in the region totaled just US$41 million between 2018 and 2022—two per cent of total financing from wealthy nations during that period. By comparison, Germany provided US$1.4 billion, making it the top contributor. Much of the US contribution comes indirectly, through multilateral lenders.

Still, a second Trump presidency risks ceding US leadership in climate technology to China, a nation already expanding its influence in Southeast Asia’s energy sector. For Southeast Asian economies, which are grappling with both the impacts of climate change and shifting geopolitical dynamics, this presents a unique challenge and opportunity. Without strong US involvement, these countries will have fewer bidders for the best climate technologies. At the same time, it may push them to develop stronger regional momentum and attract investment from other global players to fill the gap.

On the demand side, it is clear that technologies that solve real and existing world issues, coupled with being cleaner for the planet will continue to grow strong. But whether Southeast Asia can seize this moment to advance its clean energy goals and thrive sustainably will depend on how effectively it navigates the shifting global landscape. Opportunity favours those who adapt.

Trump administration’s retreat may cede climate tech leadership to China

Trump’s first term included substantial efforts to undermine federal incentives for renewable energy. Paradoxically, the climate tech sector still advanced, driven largely by private investors stepping in where the government retreated.This time, however, the dynamics are more complex, as climate technology has increasingly become part of the geopolitical tech race between major powers. Key federal tax credits and grants that have nurtured innovations like carbon capture, green hydrogen, and electric vehicles (EVs) are at risk of severe cutbacks, compelling companies to recalibrate strategies.

Also Read: The intersection of tech and climate change: 5 key forces that will redefine the global market

In regards to clean technologies, since 2023, China has installed nearly 500 gigawatts of wind and solar capacity—equivalent to the combined capacity of France, Germany, and the UK. The country’s EV progress also has been nothing short of a miracle, EVs made up a remarkable 25 per cent of all passenger car sales in the country, far outpacing the one in seven (14 per cent) sold in the United States and the one in eight (12.5 per cent) in Europe. The sales momentum shows no signs of slowing. According to HSBC, EV adoption in the world’s second-largest economy is projected to soar to an impressive 90 per cent by 2030.

It’s not just consumers driving the EV surge—manufacturing is thriving as well. Chinese brands now account for nearly half of all EVs sold globally, solidifying their leadership in the industry. One of the nation’s EV “darling child” — BYD is rapidly expanding into Southeast Asia, planning to establish new assembly plants in Cambodia and Indonesia, adding to its existing facility in Rayong, Thailand. This expansion holds significant promise for the field of climate innovation for Southeast Asia, paving the way for advancements from novel battery materials to more efficient charging infrastructure.

Urgency of sustainable development in SEA

Southeast Asia must act urgently to ensure a sustainable future. The region faces significant energy security risks, relying on the Middle East for 60 per cent of its oil imports, which exposes it to geopolitical shocks like the war in Ukraine. In 2022, fossil fuel subsidies hit a record US$105 billion, and without change, annual oil import bills could soar to US$200 billion by 2050. Accelerating clean energy adoption could slash these costs to US$90 billion, making the shift essential.

The environmental stakes are high. In 2023, 85 per cent of the population endured air pollution levels above safe limits, leading to 300,000 premature deaths from outdoor pollution and 240,000 from indoor cooking fuels. Extreme weather, like record-breaking typhoons and flooding in 2024, is adding stress to communities and infrastructure.

Also Read: Will climate change force us to re-imagine travel in the future?

Despite these challenges, Southeast Asia has massive potential in clean energy. The sector has created 85,000 jobs since 2019 and is growing rapidly. The region leads in solar manufacturing, with Vietnam, Thailand, and Malaysia among the top producers outside China. Indonesia, a major player in EV batteries and global nickel supply, plans to expand its 16 GWh battery capacity to 40 GWh by 2030, fuelling the transition to electric vehicles.

Transportation emissions remain a challenge, but solutions are emerging. Biofuels meet 10 per cent of road energy demand, while EVs already make up 15 per cent of car sales in Vietnam and 10 per cent in Thailand. Expanding public transit and electrifying two/three-wheelers, which are common in the region, could make a huge difference.

Southeast Asia also needs cleaner industries to stay competitive. Technologies like bioenergy, hydrogen, and carbon capture offer solutions for sectors like nickel refining, while Singapore is leading efforts to decarbonise shipping. 

Put the technology where the problem is

In the end, the key for SEA is the application of technologies that tackle real-world problems. The solutions that truly make an impact are those that compete head-to-head with fossil-based options—offering cost parity, better unit economics, strong product-market fit, smart distribution strategies, or just being ahead of the curve.

It’s not enough for these technologies to simply “be green.” They need to deliver undeniable competitive advantages to existing solutions. Only then, they can be Trump-proofed, or even future-proofed for that matter.

This region has the tools and opportunities at its disposal. The moment to take action is now.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic.

Join us on Instagram, Facebook, X, and LinkedIn to stay connected.

Image credit: Canva Pro

The post What does Trump mean for SEA climate scene? appeared first on e27.

fileAI, a startup specialising in horizontal file processing and AI workflow automation, has announced US$14 million in Series A funding.

This round, led by returning investors Illuminate Financial, Antler Elevate, Insignia, and Heinemann Group, brought the total funding to over US$20 million.

The newly acquired funds will boost product development and deepen the company’s expertise in AI file management.

fileAI positions itself as a crucial solution for enterprises aiming to significantly cut back-office expenses and enhance efficiency through the power of AI. Its technology addresses the challenge of managing unstructured data, which makes up 80-90 per cent of global content, with diverse formats like PDFs, spreadsheets, and emails, often in multiple languages.

Also Read: AI gold rush: How OpenAI’s Singapore expansion could reshape the startup ecosystem

The startup uses advanced predictive and generative AI, which allows for seamless text, image, and video processing, integrating with existing enterprise tools, which leads to reduced costs, greater productivity and improved data transparency.

In 2024, fileAI claims to have processed and automated workflows involving over 200 million pages and files, saving clients an estimated 420,000 hours and over US$7 million.

Its solutions are used across various industries, including financial services, insurance, accounting, and manufacturing. The platform can process files in over 200 languages, making it suitable for multinational companies.

The firm’s global client base includes MS&AD, Toshiba, KFC, DirectAsia, and Nippon.

fileAI is preparing to launch a new platform in Q1 designed for finance, operations, and legal teams. The platform uses proprietary file processing models to automate workflows for long-form documents, providing features such as document comparison, discrepancy detection, data validation, and compliance assurance.

The post fileAI’s US$14M Series A fuels expansion of AI-driven document automation appeared first on e27.

Singapore-based GOAT Gaming, a prominent platform for competitive and casual gaming on Telegram, has announced a strategic funding round of US$4 million.

The investment, with participation from TON Ventures, Karatage, Amber, and Bitscale, brings GOAT Gaming’s total funding to US$15 million.

This financial boost aims to accelerate the company’s vision of making Telegram the most accessible gateway to Web3, bringing a player-owned economy to the next billion users.

Also Read: Can free-to-play models ignite new player interest for Web3 gaming?

GOAT Gaming, born from the creators of Mighty Bear Games, is evolving interactive entertainment by adapting to new platforms such as Telegram. Since its launch on Telegram in August, the platform claims to have amassed 5 million active users, driven by the popularity of games such as Waifu Clash and Kitty Solitaire. Now, the focus is on unlocking AI-powered experiences within Telegram’s Mini Apps.

A key aspect of GOAT Gaming is its proprietary AI technology, refined since 2016, which enabled the company to launch 37 games in 2024. This technology is being shared with the community via AlphaGOATs, autonomous AI agents powered by a dataset of over 100 million gaming transactions. Starting on February 6th, AlphaGOATs will allow anyone to create, compete, and earn, paving the way for a new era of democratised gaming.

Simon Davis, CEO of GOAT Gaming, stated that Telegram is the most accessible gateway to Web3. The company intends to host hundreds of games and integrate numerous autonomous agents to deliver seamless, AI-driven gaming.

GOAT Gaming aims to launch over 50 games powered by AlphaAI by the end of 2025, alongside partnering with third-party studios.

The post GOAT Gaming lands US$4M to scale AI-driven Web3 gaming on Telegram appeared first on e27.

The post Beyond the money: How small angel cheque fuel startup success appeared first on e27.

In 2023, Singapore saw a significant increase in online scam cases, with 46,563 reported incidents, marking the highest number since tracking began in 2016. This figure represents a 46.8 per cent increase from the previous year. In total, scam victims in Singapore lost US$651.8 million in 2023, a slight dip from the US$660.7 million lost to scammers in 2022.

Notably, malware scams emerged as a new concern, with 1,899 cases reported and SG$34.1 (US$25.1) million lost, highlighting the evolving tactics used by scammers. These figures underscore the ongoing challenge of combating scams in Singapore, with over SG$2.3 (US$1.7) billion lost to scams since 2019.

Why do people believe scammers?

There are five reasons people fall victim to scams:

Financial desperation

Financial desperation often becomes a significant factor because individuals are facing economic hardship or seeking quick financial solutions. Scammers capitalise on this desperation by presenting schemes that seem like a lifeline out of financial difficulty.

In Singapore, job scams topped the list of scam types, with 9,914 reported cases and losses totalling at least SG$135.7 ( US$100.1) million. E-commerce scams followed closely, experiencing a more than twofold increase in 2023 with 9,783 cases and losses amounting to at least SG$13.9 (US$10.3) million. Investment scams also featured prominently, with 4,030 cases and losses totalling SG$204 (US$151.5) million.

Trust in technology

The other reason individuals fall for scams is an implicit trust in technology. As we become increasingly reliant on digital platforms for communication, transactions, and information, scammers exploit this trust to their advantage. The belief that technology is inherently secure can lead individuals to overlook warning signs and engage in risky online behaviours.

The ubiquity of social media and online platforms creates an environment where individuals may be more willing to click on links, download files, or share personal information, inadvertently opening the door for scammers to exploit their trust.

Psychological manipulation

Scammers are adept at psychological manipulation, preying on basic human emotions such as fear, greed, and urgency. Whether through enticing offers, alarming messages, or fabricated scenarios, scammers create a sense of urgency that clouds individuals’ judgement. The desire for financial gain or fear of missing out often overrides rational thinking, making individuals more susceptible to falling for scams.

Also Read: Securing tomorrow’s finances: Navigating the rise of digital banks with cybersecurity

In the digital world, social engineering tactics play a pivotal role as scammers exploit personal relationships and glean information from social media to establish a false sense of trust. This tactic makes it challenging for even the most vigilant individuals to discern between genuine and fraudulent communications.

Lack of digital literacy

A significant contributor to falling victim to scams is the lack of digital literacy among users. As technology evolves, scammers continually develop sophisticated methods to deceive individuals. Those who are not well-versed in recognising online threats may inadvertently expose themselves to scams.

Educational initiatives on digital literacy are crucial to empowering individuals with the knowledge to identify red flags, distinguish authentic communications from scams, and protect their personal information online.

Sophistication of scams

Scams have evolved from simple phishing emails to highly sophisticated operations, including malware attacks and social engineering techniques. The increasing complexity of scams makes it challenging for individuals to stay ahead of the threat landscape. Scammers exploit vulnerabilities in software, manipulate trusted platforms, and adapt their tactics to stay one step ahead of security measures.

Why are scams bad for business?

Scams are detrimental to businesses for several reasons: 

Reputation damage

Involvement in or victimisation by scams can tarnish a company’s reputation. Scams erode trust and confidence in the business, damaging its reputation and credibility. When customers fall victim to scams associated with a particular business, they are likely to lose trust in its integrity and may avoid engaging with the business altogether in the future. This loss of trust can lead to a significant decline in customer loyalty and ultimately impact the business’s bottom line.

Financial loss

Scams often result in direct financial losses for businesses. Additionally, dealing with the aftermath of scams, such as addressing customer complaints, providing refunds, and implementing security measures, incurs financial costs and consumes valuable time and resources that could otherwise be allocated to growth and innovation. 

Legal consequences

Scams expose businesses to legal consequences, particularly when customer data is compromised. In such instances, businesses may encounter legal actions, regulatory fines, or other penalties. The association with fraudulent activities can result in legal repercussions and regulatory scrutiny, further damaging the company’s image and potentially leading to fines or legal actions. Consequently, scams pose a serious threat to businesses by undermining their reputation, financial stability, and legal standing.

How to avoid being scammed online?

Insufficient cybersecurity invites identity theft and financial losses as scams target both money and personal information. Vigilance is key – understanding their tactics and knowing how to respond is crucial for individual consumers, not just large corporations. Take proactive steps to protect yourself.

Stay informed and educated

Keep yourself updated on the latest scams and tactics employed by fraudsters. Stay informed through news articles, official announcements, and cybersecurity resources.

Verify information

Be cautious of unsolicited emails, messages, or phone calls. Verify the legitimacy of the communication by contacting the organisation directly using official contact information rather than using the contact details provided in the suspicious message.

Also Read: Navigating cybersecurity: Antivirus vs endpoint protection

Use strong passwords

Create strong, unique passwords for your online accounts, and avoid using the same password across multiple platforms. Consider using a reputable password manager to generate and store complex passwords securely.

Enable two-factor authentication (2FA)

Implement 2FA whenever possible. This adds an extra layer of security by requiring a second form of verification, such as a code sent to your mobile device, in addition to your password.

Be sceptical of unsolicited requests

Be cautious when receiving unexpected requests for personal or financial information. Scammers often pose as reputable organisations seeking sensitive details. Verify the legitimacy of such requests independently.

Monitor bank and credit card statements

Regularly review your bank and credit card statements for any unauthorised transactions. Report any discrepancies to your financial institution promptly.

Use reputable antivirus software

Install and regularly update reputable antivirus and anti-malware software on your devices. This helps protect against malicious software that scammers may use to compromise your system.

—

Editor’s note: e27 aims to foster thought leadership by publishing views from the community. Share your opinion by submitting an article, video, podcast, or infographic

Join our e27 Telegram group, FB community, or like the e27 Facebook page

Image credit: Canva

This article was first published on March 12, 2024

The post Why do people fall for online scams in this digital age? appeared first on e27.