Amit Kedia

Who better to steer the conversation on Aligning Skills to the New Future of Work in the Era of AI and Beyond than AICB Council Member and Independent Non-Executive Chairman of Standard Chartered Bank Datuk Yvonne Chia, FCB, with her vast experience in banking spanning over three decades. Capturing the audience’s attention from the get-go, she opened the discussion with a probing question on the significant gaps in Malaysia’s educational curricula when it comes to the skills needed for an AI-driven future, and how educational institutions bridge these gaps with the help of the private sector and the government. Speaking on the impact of different use cases of GenAI on business functions across industries, Prof. Shien Jin Ong, PhD, Professor of Practice at the Asia School of Business emphasised that GenAI is clearly being deployed across all industries, and despite the fears of many that they will be replaced by AI, it isn’t that jobs will be replaced by AI, but the fact that those who do not employ AI in their work will be replaced by those who do. Sharing that Malaysia ranked 8 out of 12 APAC economies in terms of AI readiness, having scored highly in operating environment and infrastructure but not so much on talent and R&D, Talent Corporation Malaysia Berhad (TalentCorp) CEO Thomas Mathew highlighted the need for a comprehensive and sustainable action plan for talent development in Malaysia, focusing on data-driven decision-making, industry-driven skills requirements, industry–academia partnerships and collaborations, and the transfer of knowledge / skills / technology via high-technology industries. Jacqueline Ong, Executive Director, The EQ Edge Group highlighted the importance of human-machine partnerships, exploring augmented functioning to create value. To gain the full benefits of technologically augmented working, employees will be required to hone their skill sets, particularly around critical thinking and judgment, decision making and creativity. They will also need the skills to interpret and apply the insights generated by AI and data analytics in the most productive, effective ways. Also in the panel is Datuk (Dr) Nora A Manaf, CB, Chairman, Human Resource Networking Group; Group Chief Human Capital Officer, Maybank and Kevin Lam, AICB Council Member; Group Managing Director / Chief Executive Officer, Hong Leong Bank Berhad, who shared their views on the key soft skills that will become increasingly important as AI assumes the more technical tasks, strategies to reskill and upskill the workforce in light of AI advancements, the major challenges for Malaysia in closing the skills gap in an AI-driven job market, and the importance of fostering a culture of continuous learning and adaptability among employees amidst rapid technological changes.

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Years in the making, we finally see the fruits of our labor take shape as orders with self-match preventions (“SMP”) tags are coming through, in the derivatives market. A lot of work was done to make this happen. Thanks, team for your dedication and hard work. Self Match Prevention is a mechanism used to prevent unintentional wash trades. This mechanism allows traders, such as market makers, to automatically cancel the aggressive/passive order. #hkex

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Don’t miss our upcoming webinar, Principal APAC Speakers Series: A conversation with Kishore Mahbubani, on 1 August. Register now to gain valuable insights into the multifaceted economic and geopolitical trends that may shape Asia’s business landscape over the next few years. Sign up at https://lnkd.in/exhX5KSu #PrincipaHK #Stabilityineverystep Investment involves risk. For professional/institutional investors only, not for public distribution.

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Fullerton Financial Holdings (FFH), a subsidiary of Singapore-based Temasek, is poised to acquire a controlling stake in Lendingkart, a digital lending platform focused on micro, small, and medium enterprises (MSMEs). The deal, involving a capital infusion of ₹252 crore, is currently pending regulatory approval. #Lendingkart anticipates that this fresh funding will enhance its technological capabilities and expand its reach into underserved markets across India. FFH, which already holds a 38% stake in Lendingkart, will secure majority control through this investment, though the exact ownership percentage remains undisclosed. A Significant Drop in Valuation This new capital injection comes at a time when Lendingkart is grappling with financial challenges. Reports indicate that the company’s valuation is expected to fall significantly, to around $100 million—a sharp decline from its $350 million valuation in 2020. The deal follows months of difficulty for #Lendingkart, which has been actively seeking $30-$50 million in equity funding since last year. As such, this new investment marks a crucial step in stabilizing the company amid growing challenges in the unsecured loan market. Lendingkart’s Business Model Founded in 2014 by Harshvardhan Lunia, Lendingkart specializes in providing unsecured working capital loans to small and medium-sized enterprises (SMEs) across Tier 1, 2, and 3 cities in India. It operates through its non-banking financial company (NBFC) subsidiary, Lendingkart Finance Limited. To date, Lendingkart has disbursed over 300,000 loans, amounting to ₹20,000 crore, with an average loan size of ₹7 lakh. In recent years, the company has also expanded its co-lending partnerships with banks and NBFCs, increasing its Assets Under Management (AUM). Despite strong revenue growth, Lendingkart has faced profitability challenges. In FY24, the company’s standalone net profit dropped to ₹60 crore, down from ₹116 crore the previous year. It has also dealt with higher credit costs, driven by asset quality issues, as the unsecured nature of its loans makes collections more difficult. FFH’s Confidence in Lendingkart’s Potential “Our investments in Lendingkart reaffirm our belief in the immense MSME opportunity in India and the value that well-governed, scalable platforms can bring to small businesses,” said Hong Ping Yeo, CEO of FFH. Ram Deshpande | Giridhar Yasa | Manish Bhatia | Prashant Chandra | MANIK DHAM | Sanketh Shet | Chandra Gaur | ASIT KUMAR, GTML™ | Ashis Jena | Rajeev Kakar | Lee Chen Hwa | Ranjit Dandekar | Maynard Kang | Anil Radhakrishnan | Kanan Abdul Kader M. | Stephen Gong | Yash Goyal |

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Singapore largest bank DBS ($73 billion market value) has appointed Tan Su Shan(Age 56) as the next DBS CEO, succeeding Piyush Gupta (Age 64) who will be retiring on 28th March 2025 after 43 years including 15 years as DBS CEO & 27 years at Citigroup (last role was Citi CEO South East Asia, Australia & New Zealand).  Read - https://lnkd.in/gTWdezrR follow Caproasia | Driving the future of Asia With the announcement, Tan Su Shan is appointed as Deputy CEO in addition to her current role as DBS Group Head of Institutional Banking.  Tan Su Shan joined DBS in 2010, and has 35 years of financial industry experience including at Citi & Morgan Stanley in London, Tokyo, Hong Kong & Singapore. Tan Su Shan had held senior roles at DBS including as Group Head of Consumer Banking & Wealth Management and President Commissioner of DBS Indonesia.  Tan Su Shan was Singapore Nominated Member of Parliament from 2012 to 2014, is a Board Member of Mapletree Pan Asia Commercial Trust, and is an Advisory Board Member of UK billionaire James Dyson family office Weybourne Holdings.  DBS (7/8/24): “We announced today that the Board had appointed Tan Su Shan as Deputy CEO, in addition to her present role as Group Head of Institutional Banking. She will succeed Piyush Gupta as CEO when he retires at the next AGM on 28 Mar 2025.  Su Shan, 56, brings solid credentials to her new role, having had more than 35 years of experience in consumer banking, wealth management and institutional banking ... ... DBS Chairman Peter Seah: “Under Piyush’s leadership, DBS has been transformed into a high-performing, high-returns institution recognised simutaneously for stability and innovation. Su Shan’s strategic orientation, track record in building businesses, familiarity with technology, leadership ability as well as strong stakeholder management and communication skills make her the ideal successor ... ... Piyush Gupta: “Su Shan has worked closely with me for more than a decade to bring the bank to where it is today. She was instrumental in building the Wealth Management, Consumer Banking and Institutional Banking businesses since she joined, and took personal ownership to operationalise our digitalisation strategy ... ... Tan Su Shan: “I am deeply honoured to have been selected to succeed Piyush. Leading the continued transformation of DBS is a tremendous privilege and responsibility. Some months after Piyush joined as CEO, he called to persuade me to join DBS. I responded to that call and quit the foreign bank I was working at the next day. Joining DBS felt like a homecoming – it is the bank I grew up with, and also the company where I first interned ... ... DBS Bank

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Introducing iCFO Singapore Capital Mergers & Acquisitions Program At iCFO Singapore, we understand the significance of strategic mergers and acquisitions in achieving business expansion. Our program is tailored to provide financial support and flexibility to businesses pursuing growth through acquisitions, whether on a local or international scale. Schedule a meeting… https://lnkd.in/gySAnhkE Information is available at the end of this short video

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It has been an exciting summer to drill down in depth on the many investment and business opportunities developing between the GCC and the ASEAN countries. These are two of the fastest growing regions in the world poised to benefit amid current geopolitical and economic uncertainties. Following a week of fascinating meetings with leading financial players in Ho Chi Minh City, I had the privilege of exploring opportunities with Npairoj Piempongsant in Bangkok. Npairoj Piempongsant is a celebrated Thai businessman with over 40 years of diverse international project experience. He currently plays a key role in the development of Silicon Tech Park, a newly designated smart city set within Thailand’s $40 billion Eastern Economic Corridor (EEC) project. This initiative is aimed at bringing major opportunities to the Thai economy as well as to the local communities by attracting international digital innovators and investors to the region.     His deep understanding of the GCC business culture includes brokering high-profile deals, such as Abu Dhabi United Group’s acquisition of Manchester City in 2007. We discussed trade and investment opportunities between the GCC and Thailand as well as other ASEAN countries. Clean energy is a critical area for further cooperation. This would include technologies focusing on low-carbon energy, renewable energy as well as the promotion of effective energy efficiency practices. The digital economy, focusing particularly on cooperation in the AI, Web3 and Defi sectors, will also be important areas of interest. I must also thank most sincerely Daniel Rajesh, Founder and CEO of Sayis Capital, for arranging this meeting and flying over from Kuala Lumpur for the day to attend our meeting. #gcc #asean #hochiminhcity #bangkok #silicontechpark #easterneconomiccorridor #abudhabiunitedgroup #tradeopportunities #investmentopportunities #cleanenergy #ai #web3 #defi

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🌟 #ProStar's Second Edition: A Resounding Success in Singapore! 🌟 Last week, Singapore witnessed a triumphant second edition of ProStar, a marquee event curated by 9Unicorns and investment banking firm JM Financial Ltd to support growth stage companies. In a very short time, ProStar has become a cornerstone for facilitating the expansion and global alignment of high-potential companies. With over 45 private equity and venture capital funds in attendance, boasting a staggering $900+ Million AUM, the event underscored its significance and the caliber of discussions held. About 15 curated high growth-stage portfolio companies were showcased in the event, highlighting their previous success in raising over $955 million to date from an array of marquee global investors, including Temasek, Creation Investments Capital Management, LLC, Tiger Global Management, Gogoro, GMO Ventures, Sequoia Capital, Samsung Ventures, and GMO Partners, among others. The event was buzzing with meaningful conversations, setting the stage for high-quality connections and potential partnerships. ProStar has become a nexus for thought leaders and industry shapers to discuss trends and share visions for the future of technology and business. This success reaffirms the region's potential as a hub for innovation and investment, with ProStar leading the charge in unlocking these opportunities. Venture Catalysts++ | India's 1st Multi-Stage VC, 9Unicorns, Anuj Golecha, Anil G Jain, Gaurav Jain, Vansh Oberoi, Shruti Arya, Vinod Keni, Rajesh Mane, Ankit Jain, Poonam K Khandelwal, Shivika Sethi, Rishabh Golchha, Lumani Shah  #VentureCatalysts #AngelInvestor #VC #IndianStartups #SingaporeEvents #VentureCapital #PrivateEquity #GrowthStage #InvestmentOpportunities

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💡Nomura plans to add bankers in Dubai, Hong Kong and Singapore💡 #Nomura Holdings Inc plans to hire more wealth management bankers in Dubai, Hong Kong and Singapore - part of a huge push it is making to boost wealth assets outside of Japan to $35 billion by next year The #Japanese bank expects to add three or four relationship managers in Dubai by the end of this year to its current headcount there of 10, Ravi Raju, Nomura's head of International Wealth Management (IWM) Nomura plans to hire 30 to 35 bankers in the next two years and split them equally between the Asian wealth hubs of Hong Kong and Singapore, which currently have around 50 and 40 bankers respectively Raju said the bank was confident in achieving its $35 billion target, which represents a 46% jump from its current level of $24 billion for wealth assets outside of #Japan For its wealth business outside of Japan, #Nomura focuses on bringing in entrepreneurs as clients by leveraging the bank's global markets and investment banking businesses https://lnkd.in/gmD3V6nQ

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GIC, through its affiliate Waverly Investments Pte Ltd, has entered into definitive agreements for funding TPG backed Asia Healthcare Holdings Pte Ltd (AHH) with approx. USD 150 Million. This proposed investment shall follow the initial investment of USD 170 Million into AHH in February 2022. Team Nishith Desai Associates, acted as legal counsel for GIC and advised them on (i) legal due diligence, (ii) structuring, (iii) negotiation of the definitive agreements and (iv) competition law aspects, with respect to the proposed funding of AHH. Deal Team: Nishchal Joshipura, Anirudh Arjun, Anurag Shah Due Diligence Team: Santosh Gangavati, Ankit Porwal, Eshika Phadke, Palomita Sharma, Divyansh Bhardwaj, Gurkeerat Singh Read more: https://lnkd.in/dj_tNQwW #dealupdate #funding #pharmadeal #healthcaredeal #manda #corporatelaw #duediligence #structuring #definitiveagreements #competitionlaw

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Capital C Corporation secured a pre-series A to launch a financial superapp Singapore-based #CapitalC Corporation has secured a seven-figure investment in a pre-Series A funding round. The funding was led by Phillip Private Equity and Azure Capital, along with participation from several high-net-worth individuals. Under the leadership of CEO Jeames Cheow, Capital C plans to use this investment to expand into new Southeast Asian markets and launch a comprehensive superapp. The upcoming #superapp aims to provide a range of #fintech services to underserved communities, including the unbanked and those with limited credit history. It will offer personal and business loans, "buy now, pay later" (BNPL) options, and hire purchase products—all integrated into a single platform. Capital C intends to leverage its robust credit scoring model, developed over years of industry experience, to offer personalized credit options. This model supports their streamlined loan application process and rapid disbursement capabilities. In addition to these plans, the company is developing new debit and credit card solutions tailored for individuals who are new to credit or seeking alternatives to traditional options. With headquarters in Singapore and a presence in the Philippines through its Crawfort brand, Capital C is poised to make a significant impact on financial inclusion in Southeast Asia. As CEO Jeames Cheow stated, "This fresh wave of funding reflects the immense value of uplifting and empowering financially underserved communities in Southeast Asia, many of whom have fallen through the gaps left behind by traditional financing systems. Our mission is to democratize access to the financial tools and opportunities that they rightfully deserve—all while setting a bold new benchmark for inclusive finance." The article on Fintech News Singapore in the first comment.

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Few have crossed swords with the great Piyush Gupta, CEO of DBS Bank, and lived to tell the tale. I am one of them. 1. Three weeks ago, Nadir Zafar sent me a voice note saying that he had a "big ask" to make of me. The Singapore Leaders Network (SGLN) were organising a debate on 9 July. The motion was whether Singaporeans "had what it takes to be global business leaders today", and they wanted to invite me to speak for the opposition. At the time, the only other confirmed speaker was Piyush, who would be speaking for the proposition. 2. I immediately agreed, as this is a topic near and dear to my heart. Followers of my LinkedIn posts will know that I have written extensively about Singaporean corporate leadership (I have included, in the comments below, links to a selection of posts on the topic). Besides, how often does one have the opportunity to debate with a corporate leader like Piyush? I would have the next three weeks to regret my decision 😂 3. Over the next few weeks, SGLN confirmed the other speakers: Michelle Khoo (Centre Leader, Deloitte Centre for the Edge) as second speaker for the proposition, and Geraldine Chin (Chairperson, ExxonMobil Asia Pacific) as my partner and first speaker for the opposition. 4. I was grateful to have Geraldine (whom I learnt was a school debater!) on my team. She was polished, meticulous, and offered valuable perspective from her many years in corporate leadership. As an added bonus, she's super nice, and a great person to work with overall! 5. The proposition made some solid arguments: (i) think Singapore is under-represented in global corporate leadership? 15 of the world's 2,000 largest companies are led by Singaporean CEOs; (ii) think Singaporeans are too uncreative for global corporate leadership? We've been ranked first for innovation by PISA since 2012; (iii) think Singaporeans are loathe to step out of our comfort zones? Singaporeans are blazing trails in some of the most remote and difficult environments in the world including Africa, Papa New Guinea, and North Korea. 6. But the best argument of the evening (on which the proposition and opposition both agreed) is that Singaporeans have a track record of defying the stereotype, and will rise to the occasion if challenged. The result of the debate was determined by real time audience polls and (after several minutes of extra time), we played to a draw! Which is unbelievable, considering there were almost 300 people in the room! Sorry I did not have time to speak with everyone last night, so please feel free to send me an invite to connect if you attended last night's debate, and want to exchange notes about Singaporean corporate leadership. Please also leave a comment below if you had a comment or question that you did not manage to ask last night. Press photos will be published by SGLN once they are ready, but here's a wefie I managed to snap with Piyush in the meantime Thanks, SGLN, for a wonderful evening!

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The Monetary Authority of Singapore (MAS) has warned of global monetary policy uncertainty in the face of increased trade friction & geopolitical wrangling. The build-up of financial imbalances, stretched valuations & leveraged positions may amplify these risks. The central bank also stated triggers for market volatility include more hawkish than expected Bank Japan rate decision, US data which challenge the soft-landing narrative & fiscal sustainability concerns. Back in August global markets were out of control following weaker than expected US July nonfarm payrolls which sparked US recession fears, as well as borrowing cost concerns following a rate hike from Japan's central bank. The 12.4% loss on the Nikkei was the worst day for the index since the Black Monday of 1987 & global emerging-market currencies tumbled. Some companies in Singapore cited concerns over tensions in Ukraine & the Middle East. And a strong balance sheet of domestic corporates, households & financial institutions helped them cope with higher costs & market volatility. Technically upcoming US tariffs will affect trade & market efficiency in China. Southeast Asia may gain a boost to its GDP in the short-to-mid-term. The Asian Development Bank (ADB) has forecasted growth projection for Southeast Asia 4.6% this year. #macroeconomics #geopolitics #inflation #tradeware #geostrategy #japaneconomy #useconomy #southeastasia

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The expected increase in infrastructure upgrades ahead of the upcoming Singapore general elections present further opportunities.

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In this APAC Trends series, Laksh Gangwani, Chief Revenue Officer of ViewTrade Holding Corp. for the APAC and Middle East regions, shares his insights on the major trends shaping #FinTech and #WealthTech in the APAC area. Laksh examines these key developments from two perspectives: traditional financial institutions and modern fintech companies. Each perspective presents distinct opportunities and challenges for innovation. Dive into this series with us, where we focus on the dynamic world of modern finance. #finance #financialservices #technology #efficiency #trends

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Today we announced the renaming of Project e-HKD to Project e-HKD+, as the project expands its coverage from e-HKD only to a more comprehensive exploration of the digital money ecosystem. We will more holistically study new forms of digital money that may be accessible to individuals and corporates, including e-HKD and tokenised deposits. We look forward to delving deeper into innovative use cases with the 11 groups of firms selected to participate in Phase 2 of the e-HKD Pilot Programme. We will also establish the e-HKD Industry Forum to provide a collaborative platform for participating institutions to discuss common issues and further explore the possible implementation and adoption of new forms of digital money in a scalable manner. Learn more about Project e-HKD+: https://lnkd.in/gdKKqTgf The 11 groups of innovative use cases can be found here: https://lnkd.in/gg878uid Read the keynote speech by Mr Eddie Yue, the HKMA's Chief Executive, in April 2024 on our thinking on digital money in the tokenisation era: https://lnkd.in/g4cZNW7G. #HKMA #eHKDplus #DigitalMoney #FinancialInnovation

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💡 Leading financial services house IIFL Securities today announced three senior management appointments to bolster its Wealth management platform / equities broking business. IIFL Securities currently manages $23billion worth of AUM 💡 It has appointed career Private Bankers Raghav Gupta and Prakash Bulusu as Joint CEOs to manage and grow their HNI & UHNI wealth business and Amit Srivastava as Senior Managing Partner to run Investments & Product for the firm. 💡 Raghav and Prakash were previously Senior Managing Partners at ASK Asset & Wealth Management (majority owned by Blackstone, world’s largest PE Fund), managing North, South, East businesses in India and offshore markets. Amit was managing the equity product platform, asset allocation and portfolio analytics desk. He was also involved in managing investments for key UHNI client relationships pan-India. 💡 These three have helped build the Wealth practice for ASK Asset & Wealth Management and have been instrumental in taking it to great heights in eight years. The business grew 6x in 8 years with more than 50% contribution to the overall firm. They had joined ASK with significant equity ownership and it was later followed by investment from global Private Equity players like Advent and Blackstone into ASK. 💡 All three have worked in the financial services industry for over 25 years and have been together in the Wealth Management space for two decades (across Citi and ASK). 💡 Wealth and asset management industry in India has been evolving rapidly. As more and more promoters, entrepreneurs and CXOs generate wealth, there is a dearth of quality talent required to advise clients and help them manage their investments. Not surprising, therefore, that the growth prospects of the industry has seen a lot of interest from top global Private Equity players like Blackstone, KKR, Bain & Company, General Atlantic, PAG. IIFL (India Infoline Group) IIFL Securities R Venkataraman #IIFL #Wealth #HNI #UHNI #Affluent #WealthCreation #Management #Appointment

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Kopi Time E132 - GIC’s Prakash Kannan on Global Macro and Asset Allocation Prakash Kannan, Chief Economist and Director of the Economics & Investment Strategy department at GIC, returns to #KopiTime #podcast to talk about evolving macro developments and implications for asset allocation. We cover it all in this discussion, from Fed outlook to EM resiliency, global liquidity to China policy, yen carry trade to gold, and how a portfolio suitable for the past decade is unlikely to bear similar fruit going forward. Lots of insights. https://lnkd.in/dRJcAcXW

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