Grab has partnered with the Malaysian government to provide PSV licences, while Singapore’s Accrelist has agreed to acquire a majority stake in SJY Medical. Separately, ScaleUp Malaysia has selected seven emerging startups for its Cohort IV.
Grab provides vocational licences in Malaysia
Southeast Asian superapp Grab has partnered with the Malaysian Government to provide e-hailing drivers with vocational licences for public service vehicles (PSV).
The PSV vocational licence allows the holder to drive any type of vehicle used to transport paying passengers, such as taxis. The partnership seeks to address the shortage of competent drivers in the country’s PSV segment.
According to Grab Malaysia, at least 300 candidates, 210 of them being people with disabilities, have already received their vocational licences. The programme received 2,295 applicants.
Accrelist to acquire 51% stake in SJY Medical
Singapore-based Accrelist, a Catalist-listed company, announced that it is acquiring a 51% stake in SJY Medical Pte Ltd, which operates four medical aesthetic clinics in the city state, for S$550,000 (about $412,000).
In a disclosure, Accrelist said it will acquire 102,000 shares in SJY Medical, which will give it control of the four clinics at Novena Medical Centre, NEX Serangoon, Jurong Point, and SingPost Centre.
SJY Medical will become a subsidiary of Accrelist when the deal is completed. The four clinics will also be rebranded under Accrelist Medical Aesthetics (AM Aesthetics). Accrelist’s AM Aesthetics operates nine medical aesthetics clinics in Singapore and one in Malaysia.
ScaleUp Malaysia picks 7 startups in latest cohort
ScaleUp Malaysia, an accelerator that focuses exclusively on growth-stage companies, has selected seven emerging startups for its four-month programme, Cohort IV.
Six of the companies — smart retail firm BeeBag, healthtech startup Docspe, AI streaming Huddle, job-matching platform Kabel, pet ecosystem integrator Petotum, and vacation rental provider Stayhere — will receive a $100,000 investment, while fintech firm Sonicboom will get an undisclosed strategic investment.
The startups will receive upfront investments, a milestone for ScaleUp Malaysia, which has been giving investments at the end of the programme in the previous cohorts.
The focus of the accelerator programme is to equip the companies with the necessary skills and knowledge to take their businesses to the next level, according to the announcement.