- Digital transformation fuels 23.5% of M’sia’s GDP, cementing its role as a regional digital leader
- Homegrown innovators like EasyParcel, Senang Insurance & Food Market Hub are reshaping industries & empowering businesses
As technology continues to drive business growth, Malaysia is witnessing a wave of transformation across its traditional industries, fueled by rapid advances in technology and the growing adoption of digital innovation. Digital transformation is proving as a powerful catalyst for businesses, enabling them to enhance efficiency, expand market reach, and deliver enhanced customer experiences.
The digital sector continues to accelerate Malaysia’s economic trajectory with a 23.5% GDP contribution US$104 billion (RM428 billion) in 2023, signalling strong indicator towards the 30% target by 2025 set under the Malaysia Digital Economy Blueprint. Google’s e-Conomy SEA 2023 report further highlights the broader impact of digital technologies, estimating that Southeast Asia’s digital economy is projected to reach US$ 1 trillion (RM 4.1trillion) by 2030. As a key regional player in Southeast Asia, Malaysia stands to benefit significantly from this digital wave, positioning itself as a leader in the region’s digital economy.
Driving Malaysia’s digital economy
Companies like EasyParcel, Senang Insurance and Food Market Hub have not only disrupted their respective sectors but also set new benchmarks for efficiency, accessibility, and innovation. By capitalising on emerging digital trends, these homegrown enterprises demonstrate how technology can unlock growth and strengthen Malaysia’s position in the global digital economy. As more businesses embark on their digital transformation journeys, the outlook for sustained growth and international competitiveness becomes increasingly promising.
Gopi Ganesalingam (pic), senior vice president of Industry & Ecosystem at Malaysia Digital Economy Corporation (MDEC) applauded “these homegrown companies for their contribution to the digital economy. The integration of digital technologies into traditional sectors not only strengthens our economy but also paves the way for sustainable growth. By embracing innovation, these industries are not just adapting to change, they are leading it, driving Malaysia towards a more prosperous and digitally empowered future.”
Pioneering success stories in Malaysia’s digital transformation
The stories of EasyParcel, Senang Insurance, and Food Market Hub exemplify how digital solutions are transforming Malaysian businesses and driving the digital economy. These homegrown companies have harnessed the power of digital solutions to redefine their industries and achieve remarkable growth.
EasyParcel: Revolutionising the logistics industry
Founded in 2014, EasyParcel began with a mission to simplify parcel delivery services for SMEs. The logistics industry, traditionally bogged down by limited access, operational inefficiencies and high costs, was ripe for digital transformation. The company’s solution offers a one-stop platform that allows businesses to compare courier prices and services, book deliveries, and track parcels—all through a user-friendly interface.
The impact has been profound. By streamlining the logistics process, EasyParcel has empowered SMEs to scale their operations without the burden of managing complex delivery networks. “With the growth of global e-commerce, cross-border logistics is becoming increasingly important. EasyParcel has been helping businesses address their international shipping needs, making it easier for them to expand their reach”, said Clarence Leong (pic), CEO of EasyParcel.
The platform’s success is evident in its rapid growth, now serving over half a million users and processing millions of parcels annually. EasyParcel’s approach has not only reduced costs for businesses but also enhanced their ability to compete in a global market.
Not resting on its laurels, the company plans to utilise innovative technology such as AI and big data. Leong shared, “As AI and automation continue to evolve, we are investing heavily in these technologies to enhance our platform’s efficiency, predictive capabilities, and overall customer experience. We are focusing on using data analytics to offer more tailored services and improve the customer journey when it comes to parcel delivery.”
Senang Insurance: Simplifying insurance for Malaysians
Insurance has long been perceived as a complex and inaccessible industry, especially for SMEs and individuals. Senang Insurance sought to change this narrative by offering simple, affordable, and customisable insurance products through a digital platform.
The platform Senang.io is on a mission to make financial protection simple, inclusive, and accessible for everyone. By combining technology with trusted community partners like cooperatives, rural banks, fintech players, and digital partners across ASEAN, we’re bringing insurance and financial solutions to millions who were previously underserved — helping families, SMEs, and communities build a safer and more resilient future,” shared Sharian Raj (pic), founder and CEO of Senang Insurance.
The platform enables users to purchase coverage tailored to their unique needs, whether for property, health, or business. The entirely online process eliminates lengthy paperwork and in-person consultations. This innovation has made insurance more accessible, particularly for Malaysia’s gig economy workers and small business owners, who often find traditional insurance products too expensive or unsuitable for their needs.
The company’s success is a testament to the power of digital transformation in the insurance sector and looks forward to more advancements in the future. “In a fully digital world, the insurance industry will likely be driven by AI, data analytics, and automation, allowing for highly personalised insurance products tailored to individual needs. Claims processing will become faster and more efficient, with technology enabling real-time assessments and payouts. Barriers to accessing insurance will continue to fall, making protection accessible to a broader audience, including those traditionally underserved,” added Raj.
Food Market Hub: Empowering F&B restaurants
Founded by Anthony See and Shayna Teh, Food Market Hub is a procurement and inventory management system designed for F&B businesses. The online platform streamlines and automates back-end operations such as ordering, inventory management, efficient inventory and cost management solution.
Traditional procurement processes are often fragmented and prone to errors, leading to food wastage and inefficiencies. Food Market Hub’s platform automates and centralises purchasing, inventory management, and payment processes, allowing F&B operators to optimise their supply chains. The platform provides real-time data on stock levels, pricing, and supplier performance, enabling businesses to make informed decisions that improve their bottom line.
Their current clientele includes KFC, Din Tai Fung, Salad Atelier, and more than 4,000 other restaurants across Southeast Asia.
“I always think of a restaurant as a small-scale food factory with numerous manual daily operations, which can easily lead to significant wastage. Bringing data transparency to food costs can help many restaurants reduce waste, turning their businesses into more profitable and scalable ventures. We are currently integrating Gen AI and Amazon AI modules into the platform to make it easier for small restaurants to adopt in the near future,” said See, co-founder of Food Market Hub.
By utilising big data and AI-driven insights, restaurant operators can make decisions that streamline operations, reduce waste, and optimise costs. This not only enhances profitability but also ensures that small restaurants can scale efficiently while delivering consistent quality to their customers.
“We will be launching an industry insight dashboard that will enable restaurant operators to utilise big data for planning their offerings and pricing. Imagine having insights into the price of nasi lemak within a 10 km radius of your restaurant and the average cost of that offering. This tool empowers our customers to run their businesses with the support of big data,” he added.
