**Initiative Boosts Transparency and Service Reliability While Improving SME Margins and Delivery**
**Collaboration Enables 1,200 Security Firms to Digitise Operations with US$42 Million Financing from CapBay**
Bay Group Holdings Sdn Bhd (CapBay), a homegrown supply chain financing provider and peer-to-peer (P2P) financing platform, together with Ultrack Technology Sdn Bhd (TrackerHero), a leading provider of security workforce management solutions, have announced a pioneering partnership. This first-of-its-kind collaboration pairs fintech with security technology to accelerate digitalisation across Malaysia’s security services sector.
Backed by the 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 initiative will enable over 1,200 licensed security firms to adopt proven digital workforce tools. The partnership comes with US$42 million (RM200 million) in committed financing from CapBay.
Designed to raise transparency, compliance, and service reliability for end-clients—including public sector agencies—this initiative also aims to improve margins and contract fulfilment for SMEs, CapBay and TrackerHero noted in an official statement.
The launch ceremony was opened by Mohd Redzuan Affandi Abdul Rahim, Director of SME Digitalisation at MDEC, followed by an officiating address from Tuan Haji Omar Mokhtar bin A Manap, Political Secretary to the Minister of Home Affairs. In his first public remarks since appointment, he underscored the importance of digitalisation for the security industry under KDN’s jurisdiction, commending TrackerHero for leading transformation efforts, 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. The signing was witnessed by both the Political Secretary to the Minister of Home Affairs and the MDEC director.
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. Meanwhile, CapBay presented its flexible financing packages designed to remove upfront cost barriers to adoption. Also exhibiting was the Faculty of Artificial Intelligence from Universiti Teknologi Malaysia, a key partner to TrackerHero, highlighting Malaysia’s strong research and talent pipeline supporting national digitalisation efforts.
This partnership is expected to deliver wide-reaching impact across Malaysia’s security services sector. With US$42 million (RM200 million) in flexible financing tied directly to operational digitisation, SMEs can adopt digital tools faster and with minimal upfront costs.
The initiative promises stronger compliance and transparency through verifiable workforce management and auditable patrol data, benefiting both public and private clients. Simultaneously, data-driven scheduling and enhanced accountability will improve contract fulfilment for high-value government and corporate customers.
Importantly, the initiative aligns closely with national priorities by supporting MDEC’s business digitalisation mandate and KDN’s oversight of the security guard ecosystem.
“The collaboration with TrackerHero represents more than just 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.
Meanwhile, Izzat Hanif added, “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.”
Anuar Fariz Fadzil, CEO of MDEC, commented, “MDEC welcomes this partnership as it reflects the spirit of the Malaysia Digital Business Digitalisation Initiative—to accelerate digital adoption across industries. 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 digitisation and financing model to other industries facing similar workforce and operational challenges, including logistics and facilities management, further supporting Malaysia’s ambition to become a digitally driven nation.
https://www.digitalnewsasia.com/digital-economy/capbay-trackerhero-partner-accelerate-digitalisation-malaysias-security-industry
