RM200 Million Financing to Help 1,200 Security Firms Adopt Digital Workforce Tools
Putrajaya, 1 Oct 2025 – Bay Group Holdings Sdn Bhd (CapBay), a homegrown supply chain financing provider and Peer-to-Peer (P2P) financing platform, and Ultrack Technology Sdn Bhd (TrackerHero), a leading provider of security workforce management solutions, today announced a first-of-its-kind partnership that pairs fintech with security technology to accelerate digitalisation across Malaysia’s security services sector.
Backed by Malaysia Digital Economy Corporation (MDEC) as a strategic partner in line with its national Business Digitalisation mandate, and officiated by the Political Secretary to the Minister of Home Affairs (KDN), the collaboration will enable over 1,200 licensed security firms to adopt proven digital workforce tools with RM200 million in committed financing from CapBay. The initiative is designed to raise transparency, compliance, and service reliability for end-clients — including public sector agencies — while improving margins and contract fulfilment for SMEs.
The ceremony was opened by Mohd Redzuan Affandi Abdul Rahim, Director of SME Digitalisation at the Malaysia Digital Economy Corporation (MDEC), followed by an officiating address by Tuan Haji Omar Mokhtar bin A Manap, Political Secretary to the Minister of Home Affairs (KDN). In his first public remarks since appointment, he underscored the importance of digitalisation for the security industry under KDN’s purview, commending TrackerHero for leading transformation, CapBay for enabling access to financing, and MDEC for steering Malaysia’s Business Digitalisation agenda.The Memorandum of Understanding (MoU) was signed by Ang Xing Xian, Co-Founder and Group CEO of CapBay, and Izzat Hanif, Co-Founder and CEO of TrackerHero, and witnessed by both the Political Secretary to the Minister of Home Affairs and the MDEC Director.
On-Ground Technology Showcase
Following the officiation, the Political Secretary and MDEC Director toured a mixed showcase of technology booths. TrackerHero demonstrated AI-enabled patrol devices, real-time operations management, and surveillance drones, while CapBay presented its financing package that removes upfront cost barriers to adoption. Also exhibiting was Faculty of Artificial Intelligence, Universiti Teknologi Malaysia (UTM) – a strategic partner to TrackerHero – highlighting Malaysia’s research and talent pipeline supporting national digitalisation.
Why It Matters- Impact at a Glance
- Faster SME adoption: RM200m in flexible financing tied to operational digitisation, minimising upfront costs.
- Stronger compliance & transparency: Verifiable workforce management and auditable patrol data for public and private clients.
- Better contract delivery: Data-driven scheduling, accountability, and fulfilment for high-value government/corporate contracts.
- Aligned with national mandates: MDEC’s Business Digitalisation initiative and KDN’s oversight of the security guard ecosystem.
“The collaboration with TrackerHero represents more than financing — it strengthens Malaysia’s economic backbone by enabling SMEs to embrace digitalisation and deliver higher-value services. By integrating financing with digital workforce management, the partnership empowers security SMEs to operate more efficiently and adopt the latest technology to stay competitive,” said Ang Xing Xian, Co-founder and Group CEO of CapBay.
Izzat Hanif, Co-Founder and CEO of TrackerHero, shared, “This partnership is about execution at scale—bringing financing and technology together so security SMEs can digitise without friction. With CapBay and under the umbrella of MDEC’s digitalisation agenda, we are tackling the industry’s toughest pain points: transparent operations, verifiable compliance, and data-driven efficiency. Our goal is a stronger, future-ready security ecosystem that can compete regionally and serve the public interest with confidence.”
“MDEC welcomes this partnership as it reflects the spirit of the Malaysia Digital Business Digitalisation Initiative, which is to accelerate digital adoption across industries,” said Anuar Fariz Fadzil, CEO of MDEC. “By bridging fintech and technology providers, initiatives like this empower SMEs to scale, innovate, and contribute meaningfully to Malaysia’s vision of becoming a digitally driven nation.”
Beyond the security sector, CapBay and TrackerHero plan to extend this model to industries with similar workforce and operational challenges—including logistics and facilities management—supporting Malaysia’s ambition to become a digitally driven nation.