Malaysian Conglomerate J Stars Group Ventures Into Investment Banking; Plans For Digital Banking License in 2024
J Stars Group, a Malaysian conglomerate, on Saturday revealed their most recent venture into investment banking.
Founder Dato Jessica Tan unveiled this initiative over the group's Annual Gala, stating that this step forward will be done through a partnership with JW Empire Capital Ltd.
The milestone was marked by the signing of a Memorandum of Understanding (MOU) during the event, attended by the Founder & CEO of JW Empire Capital, Dato Joel Wong and Director of Golden Touch Investment Bank, Mr. Jacky Chua.
SEE: Founder & CEO of JW Empire Capital, Dato Joel and Director of Golden Touch Investment Bank, Mr. Jacky Chua.
J Stars Group
J Stars Group oversees a diverse range of businesses spanning property development, investment, technology, entertainment, F&B, social marketing, education, and blockchain solutions.
Comprising of eight companies with over a century of combined experience, the group began in 2017 as an entertainment provider based in Malaysia.
While initially focusing on entertainment, J Stars Group has expanded into fintech and education, aiming to contribute to the Malaysian economy by attracting foreign investors.
Noteworthy ventures include successful live concerts featuring international artists like Jason Mraz, Rainie Yang, Boyzone, and Sam Hui.
Licensed in Labuan
This will not be J Stars Group's first license.
The group has, under its subsidiary Huobi Labuan, Liberal Investment, and GDC Fund Management, attained multiple regulatory licenses from the Labuan Financial Services Authority (Labuan FSA).
Specialising in trade finance, credit financing, digital asset advisory, and asset management, JW Empire Capital will utilise the Investment Banking license held by 'GTIB' (Golden Touch Investment Bank Ltd).
In the concluding gratitude speech, J Stars' founder, Dato Jessica, mentioned that the company's goal for the year 2024 is to acquire a digital bank license in Labuan, Malaysia.
As with its investment bank, the organisation reports that it will work closely with JW Empire Capital Ltd to attain the license, though the specifics of the framework were not revealed.
The regulator has published the Labuan Digital Banking Framework issued on August 2020 to indicate the requirements needed for the digital banking license.
AI Powered Media Buying
During the Gala, J Stars Group inked a Memorandum of Understanding (MOU) with Draco Co., Ltd, a data analytics platform introduced by Ashran Dato Ghazi.
SEE: J Star Group Dato Jessica Tan with Draco founder, Ashran Dato Ghazi
The intent of the MOU is to have cooperation between the parties in areas of promotion and preparation for the listing of the relevant platform in relation to the DASIA token (a "Utility Token").
The platform utilises artificial intelligence (AI) to build ecosystems, addressing the inefficiencies in marketing expenditures, which reportedly constitute 10-13% of a company's annual revenue.
DASIA will purportedly power users of the AI platform, enhancing the efficiency and utilisation of their marketing funds.
The DASIA token is expected to be listed on an exchange next year.
J Stars Annual Gala
The Gala is an annual event that brings together companies within the J Stars ecosystem.
Held at Sheraton Petaling Jaya over the weekend, the event was graced by notable figures such as Datuk Iskandar Mohd Nuli, Deputy General of the Labuan IBFC, Dr Wan Hasni Wan Sulaiman, Chairman of Yayasan Harapan and Advisor to the current Prime Minister of Malaysia, and Doctor Sani, Head of Healthcare Persatuan Pengguna Islam Malaysia.
This year's event was sponsored by 4e, a derivative-focused cryptocurrency exchange with a significant presence in Southeast Asia.
4e recently introduced a copy-trading feature in collaboration with Chinese Key Opinion Leaders (KOLs) such as Qimbafrank, Crypto Squirtle (机灵的杰尼君), 0xVeryBigOrange (很大很大的橙子), and @SEFATUBA3 (币圈老司机).
4e also has a significant number of users in the Vietnamese market.
The core team states that they intend to develop the Japanese and Korean markets next year.