Malaysia’s high-flying drone industry grounded by regulation

More: Green investments in SEA continue to fall and Binance faces a new legal battle in the US. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [The regulatory barriers slowing down Malaysia’s drone industry]( - Singapore-based Aspire’s expansion plans in the Asia Pacific after turning profitable - Other newsy highlights such as how SEA's green dreams have gone up in smoke and Binance’s legal woes in the US --------------------------------------------------------------- Hello {NAME} Recently while I was on vacation in the UK, my ears became familiar with a certain buzz in the air. No, it didn’t come from the massive bumblebees of the mystical Caldey Island or even the flies that swarm most beer-soaked tables in the bustling market streets of London. The sound, in fact, came from drones. I saw them often enough that it wasn’t surprising to find the UK at the top of the Drone Readiness Index. Developed by consultancy Drone Industry Insights (DII), the index compares drone regulations in various countries. Landing at no. 21 is Malaysia, which jumped eight spots from last year to be among the highest-placed nations in Southeast Asia in 2023. While that certainly isn’t bad, today’s featured piece argues why Malaysia has plenty of room to improve, especially since it’s the home of Aerodyne and Meraque, which rank first and 18th, respectively, among the world’s drone service providers. Given that Malaysia requires a host of different government organizations to sign off on drone operations, our premium story highlights the need for a unified body to deal with both drone approvals and investments as well as how the slow pace of legal reforms has left a cloud hanging over the burgeoning industry. -- Shravanth P.S.: If you’re an entrepreneur looking for funding, [fill out this form]( to get your company featured on our list of fundraising startups.  ---------------------------------------------------------------  THE BIG STORY [The regulatory hurdles holding back Malaysia’s drone industry]( The country may have produced heavy hitters but government-related issues remain. --------------------------------------------------------------- TRENDING NEWS [SEA green investments fell 7% YoY to $5.2b in 2022, report shows]( The region will need US$1.5 trillion in investments to meet 2030 emissions targets, noted Bain, Temasek, GenZero, and AWS in the report. [Aspire turns profitable, eyes APAC expansion]( Over the past year, the Singapore-based company tripled its yearly revenue and increased its annualized total payment volume to US$15 billion. [PolicyStreet bags $15.3m from Malaysian gov’t to bolster insurance products]( The firm also provides insurance to gig workers through its partnerships with companies like Shopee Malaysia, Carsome, and Foodpanda Malaysia. [Binance to ‘vigorously’ defend platform against US lawsuit]( The lawsuit charges Binance and its CEO Changpeng Zhao with 13 offenses, including the unregistered offer and sale of the firm’s own crypto assets. ---------------------------------------------------------------  LISTICLE OF THE DAY [50 rising startups in Indonesia]( Which startups are on the path to becoming the next big thing? ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. 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