We predicted these 5 M’sian industry trends for 2022, here’s what we actually got right
Was it just me or did 2022 just fly by? Thankfully for reasons better than 2021 did, I’d say.
This year, we saw the recovery of many industries and the growth of some others. We even saw a new government!
Are things really looking up for Malaysia? That might depend on who you talk to, but before we look to the future, let’s review the past to see how this year turned out.
Here are the five business predictions we made for 2022, plus what came true, and what didn’t.
1. Dronetech will take off across more industries: Came true!
Dronetech already saw a growth surge in 2021, so by comparison, 2022 seemed to serve as a refinement period for its development, and it’s likely that another surge will happen in the next year or two.
For now, we’ve seen Malaysian dronetech go beyond agritech and construction, delving more into search and rescue (SAR) efforts as well.
Alongside first responders as well as drone companies, Malaysian Research Accelerator for Technology and Innovation (MRANTI) will be facilitating the Pasukan Tindakan Kecemasan Khas Dron (PTK2Dron) initiative.
PTK2Dron was set up by the Ministry of Technology, Science, and Technology (MOSTI) in 2021, after the floods that happened in Sri Muda and Hulu Langat, Selangor.
Under it, drone companies will be carrying out mapping services, underwater search and rescue, geotagging vulnerable locations for aid prioritisation, unmanned boat operations, and medicine and food deliveries.
PTK2Dron has already been deployed for the December 16 landslide tragedy at Batang Kali.
Beyond SAR, it seems that the government is aiming to boost the use of dronetech for transportation too, with parcel deliveries, spare parts deliveries (for ships), medical aid and equipment deliveries already in R&D.
2. NFTs being used as utility and in charity: Came true!
NFTs and crypto have had a real rough time after riding a high last year into early this year. First, the Terra Luna crash in May, then November saw crypto exchanges FTX, FTX.US, and BlockFi file for Chapter 11 bankruptcy.
Prior to all that though, NFTs had seemed to be flourishing even on local soil.
In terms of charity, artist Katun had co-founded a project called Apes R Us, through which proceeds from the sale of 100 NFTs in collaboration with WWF Malaysia went to orangutan conservation efforts in Sabah and Sarawak.
Utility-wise, a Shah Alam family-oriented steakhouse, AD Butcher & Steak had introduced a “dine-to-earn” concept which served as a loyalty programme, for example.
In a similar vein, MyeongDong Topokki (MDT) leveraged NFTs to create a membership programme.
On the other hand, Miss Universe Malaysia Organization (MUMO) introduced a voting mechanism using NFTs.
Following the crypto winter, it’s been reported that from January 2022 to September 2022, NFT trading volume collapsed by 97%, from US$17 billion in value to US$466 million.
Despite that, a bullish outlook persists, with some saying that as we move towards more virtual experiences, NFTs will be here to stay. Only time will really tell.
3. More BNPL options from larger players: Came true!
Erm, somewhat? One more is still more, right?
We did see a lot of movement in the Buy Now, Pay Later (BNPL) space in Malaysia, with foreign players such as Ablr entering the market, IOUPay teaming up with BSN to leverage the bank’s 6 million plus users, and BNPL regulations to potentially be implemented.
In terms of larger players offering their own BNPL options though, we mainly saw one this year, which was Lazada introducing LazPayLater.
Interestingly, we’ve yet to see Capital A make any moves with the airasia Super App, and what we could find thus far pointed to the brand only partnering existing BNPL solutions in the past.
Might we see an airasia Super App BNPL service in 2023? Who knows, since airasia is known to be unfazed about being a later entrant to trends such as e-hailing and food deliveries.
4. An increase in COVID-19 management solutions: Didn’t come true… (but that’s not a bad thing)
At the time of writing the initial 2022 predictions article, many of us still hadn’t gotten (or were in the midst of getting) our booster shots.
COVID-19 was still something to be feared then, with mask mandates going strong, and many avoiding large public gatherings.
Just months into 2022 though, and we began seeing companies return to the office (our own included, after an in-depth renovation), travel routes open up, and more.
As COVID-19 became less and less of a threat to many of us, we began seeing fewer new solutions to manage it, existing SOPs aside.
It’s not yet eradicated though, so we shouldn’t be too carefree and previous solutions shouldn’t be discarded or shelved just yet, as the virus remains capable of mutating into new variants.
5. Streamlined crowdsourcing platforms for #KitaJagaKita efforts: Didn’t come true…
Last year’s horrible floods saw the Malaysian public stepping up to help peers in hard-hit areas. As one, we donated aid, volunteered with clean-up efforts, and more.
Private companies worked with the government to conduct search and rescue (SAR) efforts too, which later culminated in the PTK2Dron initiative mentioned in point #1.
While there were several crowdsourcing apps created to tackle various issues such as COVID-19 relief and flood SAR in 2021, there wasn’t much talk about them in 2022.
Was it because the Malaysian public thought that the government was finally stepping up by allocating more funds for flood relief efforts as well as setting up specific task forces?
We don’t know for sure, but what we do know is that the Malaysian public has proven that they will fiercely back each other up and address existing gaps when it’s called for, and that is enough of a win in our books.
-//-
We have a feeling that 2023’s industry predictions will look very different, as we’re no longer just playing it safe and hedging our bets.
Next year, we’ll likely be seeing Malaysian businesses and entrepreneurs make riskier moves for potentially higher returns.
That should make for an interesting business landscape, and we can’t wait to see what will come out of it.
- Read our previous 2022 predictions article here.
Also Read: 5 reasons to treat your employees with an office at Colony’s luxury coworking spaces
Featured Image Credit: Aerodyne / Vulcan Post
Aerodyne acquires controlling stake in Brazilian dronetech startup, flying towards 2024 IPO
Malaysian DT3 (Drone Technology, Data Technology, and Digital Transformation) company, Aerodyne Group (Aerodyne), has signed an agreement to acquire a controlling interest in Brazilian drone operator and service provider company, Grupo DR1, announced a press release today.
This strategic investment marks Aerodyne’s entry into Brazil, recognised as Latin America’s largest market as of 2019.
According to the press release, this investment also provides Aerodyne with the opportunity to tap into the largest oil and gas (O&G) drone services market in the region.
This is beneficial as Aerodyne has its own O&G division, Aerodyne Oil & Gas Sdn Bhd, which specialises in advanced non-destructive testing inspection via its unmanned aerial vehicles and software worldwide.
Brazil will also serve as a regional platform to launch Aerodyne’s new technology and solutions in precision agriculture, advanced air mobility, and remote autonomous drone-based solutions.
“This investment is a platform for Aerodyne to expand our footprint into Brazil and to export our technology solutions and other value-added services to Grupo DR1’s existing clientele and beyond,” said Amir Zakwan Anuar, Aerodyne’s chief strategic officer.
“This is the first of a new wave of investments in the Aerodyne Group pipeline in our strategy to consolidate the drone technology market.”
This investment is in line with Aerodyne’s US$30 million funding round led by Petronas in September 2022, as the team had said the funds would go towards further expansion into European, African, Latin America, and South Asian territories.
A synergetic partnership
This partnership capitalises on the strengths of both Aerodyne and Grupo DR1 and will create a synergy towards the advancement of the industry in the region, stated the press release.
The Aerodyne team believes that its investment solidifies Grupo DR1’s position in Latin America beyond the O&G sector, as its existing solutions is complemented by Aerodyne’s turnkey DT3 solutions.
Leveraging Aerodyne’s track record in sectors such as powerline and telecommunications, this investment allows for Grupo DR1 to expand and diversify.
“This partnership will allow us to offer the most innovative and differentiated value proposition for our clients, enabling Grupo DR1 to expand its wings not only in new verticals but also increase depth of technology solutions with existing clients,” said Mateus Santos, the CEO of Grupo DR1.
Touring the world
While headquartered in KL, Aerodyne has made its mark across the globe, having been consistently ranked as the #1 Drone Service Provider by the Drone Industry Insights (DII).
According to The Malaysian Reserve, the dronetech company has completed 16 foreign mergers and acquisitions as of July 2022, when it was still closing the deal in Brazil.
Aerodyne has also teased an initial public offering (IPO) in 2024, with The Edge reporting in November 2022 that the dronetech company is eyeing NASDAQ, Tokyo Stock Exchange, and Bursa Malaysia as three stock exchange options where it might list its shares.
The founder and CEO, Kamarul A Muhamed, also mentioned that the company may consider a dual listing.
Aiming to raise US$100 million (RM453 million) and US$200 million before its IPO, the homegrown dronetech startup may very well be on its way to becoming Malaysia’s next unicorn.
Also Read: 5 reasons to treat your employees with an office at Colony’s luxury coworking spaces
Featured Image Credit: Aerodyne
