RM52.4 Million Investment Value Forecasted Through Two New Blockchain Companies Joining BV@M

The said companies would explore opportunities related to AI and Blockchain

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President and CEO of IIB, Datuk Ir. Khairil Anwar Ahmad witnessing Managing Director of IIBV, Zulfiqar Zainuddin exchanging documents with Founder & CEO of Synapse Innovations Sdn Bhd, Ts. Dr Afnizanfaizal Abdullah and CEO of Holistics Lab Sdn Bhd, Dr Mohd Iskandar Illyas Tan to mark their operations in Blockchain Village @Medini (BV@M)

IIB Ventures Sdn Bhd (IIBV), a wholly-owned subsidiary of Iskandar Investment Berhad (IIB), welcomed two new blockchain companies, Synapse Innovations Sdn Bhd and Holistics Lab Sdn Bhd, to the Blockchain Village @Medini (BV@M) which was announced during the Iskandar Global Innovation and Technology Exchange (IGNITE) Blockchain 2021.

Both companies would explore opportunities related to Artificial Intelligence (AI) and Blockchain through their Centre of Artificial Intelligence Research for Blockchain (CARBON) and Centre of AI Research in blockchain in Halal Traceability Ecosystem in Medini, respectively.

Managing Director of IIBV, Zulfiqar Zainuddin exchanged documents with the two parties Founder & CEO of Synapse Innovations Sdn Bhd, Ts. Dr Afnizanfaizal Abdullah and CEO of Holistics Lab Sdn Bhd, Dr Mohd Iskandar Illyas Tan to mark their operations in Blockchain Village @Medini (BV@M). Witnessing the exchanges was the President/ CEO of IIB, Datuk Ir. Khairil Anwar Ahmad.

IGNITE or Iskandar Global Innovation & Technology Exchange is a key focus and strategic initiative under the ISKANDAR NEXT programme and one of the tracks is organised under the Blockchain Village @Medini.

Datuk Ir. Khairil said, “We are indeed delighted to see more blockchain businesses setting up in Medini Iskandar Malaysia which also would create more high-value job opportunities within Iskandar Puteri. Synapse Innovations Sdn Bhd and Holistics Lab Sdn Bhd are projected to create 205 high-value jobs, with RM52.4 million of investment value at an approximate average salary of RM5,000 in the next five years.”

“The IIB Group of Companies will continue to spearhead efforts in support of Malaysia’s National 4IR policy and Digital Economy Blueprint as well as Johor’s state-wide digital aspirations with initiatives such as BV@M and IGNITE,” he added.

Former Johor Menteri Besar Datuk Dr Sahruddin Jamal launched BV@M in October 2019. It has since secured 1,045 jobs worth RM323.4 million in investment with an average monthly pay of RM7,500. The BV@M firms are from Japan, Singapore, India and Malaysia, and they offer a variety of solutions and services, including intelligent waste separation and tracking, Venture Builders & Aggregators, Blockchain Commerce (B-Commerce) products, and blockchain document management.

On the 28th and 29th of September 2021, the IGNITE Blockchain webinar included industry leaders and professionals from the blockchain and related sectors. Visit www.igniteiskandar.com for more details of the programme.