Gazing into Malaysia's tech crystal ball

Check out our top articles for the week. [Read from your browser]( Top Stories of the Week Welcome to Tech in Asia's free Sunday newsletter! Get full access to our subscribers-only premium content and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. Hello {NAME} Malaysia had a roller-coaster of a ride this year navigating a range of externalities, from global economic headwinds to domestic problems. Good thing the government proved resilient - and that is something worth celebrating because since 2018, political instability has been the mainstay in the country. Ironically, such developments point to a maturing democracy where a ruling coalition is formed as a post-election pact. Gone is the political monolith we’ve grown accustomed to since the formation of Malaysia in 1963. But a year into Prime Minister Anwar Ibrahim’s government, Malaysia seems to have stunted. While we ushered in political stability, we’re seeing the government either not deftly moving to initiate reforms or, worse, regressing. For instance, Anwar’s government is still holding on to the race-based policies of his predecessors, and that has some bearing to the tech space. He also has the dual role of prime minister and finance minister, which has led to some criticism that he has a part-time finance minister. This, too, has some bearing on the tech space, as key state-owned financiers - such as Khazanah, Mavcap, and Penjana Kapital - are under the control of the finance ministry. Anwar’s government has signaled stronger tech policies, especially from Economic Affairs Minister Rafizi Ramli, but he seems to be working in a silo. Of course, this has a bearing on tech policy because Rafizi, while he is a visionary and has some sense of what needs to be done, isn’t the one ultimately controlling the purse strings. Just before writing this, I had a chat with a Malaysian lawyer friend about his plans for next year. He works with startups, including helping them domicile in different jurisdictions. He told me that sometimes he felt as if he were a prostitute on LinkedIn. He wasn’t, to quote LinkedIn speak, “thrilled” or “excited” but tired. Tired because Malaysia has all the makings of a great tech hub, but somehow we’re just being bypassed for the likes of Indonesia or Vietnam. Maybe the press - myself included - are to blame for being pessimistic, but what is there to cheer on when the government of the day isn’t focusing on, well, governing? Anyway, all’s not doom and gloom. There are certainly things to watch next year, as I have pointed out in my article, and I have only scratched the surface. Heck, even Tech in Asia is rolling out its maiden Kuala Lumpur conference next year. So if that isn’t great news, I don’t know what is. -- [Emmanuel Samarathisa]( journalist at Tech in Asia  --------------------------------------------------------------- TOP STORIES THIS WEEK 1️. [Tech trends to watch in Malaysia for 2024]( Here are five developments to watch out for as the country vies to become a tech hub in Southeast Asia. 2. [Can AI bots shake up SEA’s thriving livestreaming industry?]( The region’s e-retailers are expected to adopt AI-controlled deepfake bots for live commerce in 2024. 3. [Is the potential TikTok Shop-Tokopedia deal just a strategic stopgap?]( This could allow TikTok Shop to reenter Indonesia and bolster Tokopedia’s ecommerce strategy. But would it be enough to break Shopee’s dominance? 4. [Cake Group co-founder files to liquidate firm, court to decide]( The crypto firm faces liquidation as its co-founders' fight boils over after recent layoffs. 5. [Clash of the cuppas in SEA as China’s Luckin enters the scene]( Fore Coffee and Kopi Kenangan both expanded regionally this year. Can they avoid Flash Coffee’s fate while competing with Chinese giants? 6. [Gobi-backed $20m round paves way for SG Islamic lifestyle app’s expansion plans]( Bitsmedia will soon launch an AI-based search engine for Muslims. It also plans to offer ecommerce and financial services through partnerships. 7. [How Shein stacks up against H&M, Gap, and Uniqlo]( While the Chinese company is just over a decade old, it has already outpaced some of the fashion world's biggest names by some metrics. 8. [One Singapore VC firm’s unique approach to finding next gaming goldmine]( Round Ventures plans to issue its first check next year, capitalizing on its sister company G.Round’s expertise in game testing. 9. [Chaos at Mark Cuban-backed NFT startup after founders, directors lock legal horns]( While Mintable’s CEO and its board of directors have reached a settlement, the future remains uncertain for the Singapore-based NFT marketplace. 10. [GoTo’s on-demand segment charts its roadmap to profitability]( Among the recent initiatives rolled out by its transport business to manage cost is GoCar Hemat, which has reached more than 60 areas in Indonesia. --------------------------------------------------------------- WHO'S HIRING  You can post a job [here]( or search for jobs [here](. 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