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SERUNAI COMMERCE

Your Digital Halal Solution Partner

SUMMARY VIDEO

COMPANY DETAILS

SUMMARY

The demand for halal is growing globally with the market increase expected to go up to US$30 trillion by 2050(1). In light of the global pandemic, halal is now increasing in demand more than ever locally and internationally. Serunai has taken the opportunity to apply its expertise and talents towards creating digital platforms to interconnect producers and consumers not only from 1.8 billion Muslims but the whole world who are in dire needs of halal prestigious standard that encompasses all aspects leading to quality assurance.

 

PROBLEM

Despite its renowned potential, halal growth is hampered by these issues:

 

SOLUTION

Serunai Commerce has developed a comprehensive digital halal ecosystem to enhance the global halal marketplace’s connectivity and transparency.

 

PRODUCT

Below are Serunai’s product offerings:

 

TRACTION

Our revenue has grown from RM1.844 mill in 2019 to RM 7.121 mill in August 2020 and we strongly believe we will achieve our targeted revenue of RM9.412 mill by end of December 2020.

We have signed up with two countries where halal is flourishing each in Africa and Asia. One of the countries would have 1.6 million SME’s who are among our first batch of clients to use our digital halal system. We are also currently working on advancing halal technology in Germany, USA, Australia and China.

Serunai Commerce’s relentless work in developing global halal technology bears result after we have been selected as a reverse linkage partner under Islamic Development Bank (IsDB).

This mandate given by IsDB is a responsibility for Serunai Commerce to build and upgrade halal technology ecosystem among Organisation of Islamic Cooperation (OIC) country members and Muslim community in non-member countries.

We take pride in this because there are only four organisations selected by IsDB namely Malaysian Islamic Development Department (JAKIM), Halal Development Corporation (HDC), F&B Company and Serunai Commerce to champion halal for OIC countries.

CUSTOMERS

 
BUSINESS MODEL
The concept of Halal goods and services have steadily gained momentum globally. Technology and innovation impacts the halal markets in a big way by offering opportunities in this space. Serunai Commerce offers a unique Business Model covering the whole Halal Ecosystem, from the Local Government Authorities, Global Halal Certification Body to Halal Certificate Holder (Brand Owners), Logistic Providers, Retailers and finally to the public encompassing the supply chain as a whole. The Business Model of each of the systems includes Membership Subscriptions, Big Data Analytics, Advertising, Trackable QR & RFID Blockchain and Sale of Online Encrypted Certificate. Serunai Commerce adopts Software as a Service (SaaS) as the business model in a cloud environment, and the system is accessible both through a web interface, as well as through desktop and mobile apps. For a recurring yearly fee, brand owners have a powerful online tool at their disposal. The SaaS system benefit from the recurring revenue and can roll out new features as soon as they’re made available to support the relevant countries ISO’s and the growing needs in technology.
The key benefits of SaaS for our target customers includes:

 

Lower Costs: SaaS platforms are distributed on a subscription basis. That eliminates licensing fees involved in traditional software installs.

It also allows our clients to increase or decrease their expenses based on usage. Additionally, because SaaS solutions are cloud-based, infrastructure costs for customers are eliminated.

 

Flexibility & Scalability: The SaaS business model offers our customers greater flexibility. It allows customers the opportunity to grow their business with our software. It also eliminates the risk of paying a hefty fee in advance for a product that might not suit their needs.

 

Quick Benefits: Because SaaS tools are cloud-based, clients see immediate gains. In most cases, it is as easy as signing up with a name and email address for a Halal certified company to instantly access product functions.

 

Higher Adoption: The ability to use SaaS tools anywhere in the world has increased their adoption.

 

Free Upgrades: For many companies, downtime can be costly. In most cases, it happens during product upgrades. SaaS software upgrades are generally done without experiencing user downtime or with shorter maintenance windows.

 

Apart from the technology offerings Serunai Commerce via It’s Halal Centre of Excellence (Halal CoE)  is also mandated by the Government to provide Capacity Building & Training Services for Halal Globally. Apart from Malaysia The Halal CoE has also been established in South Africa and India.

 

MARKET

Global increase in Muslim population has become a key market growth driver. The number is expected to increase the global halal product market demand especially among leading Islamic countries and Malaysia is one of them. Despite having more than 400 Halal Certification Bodies around the world, only 84 are recognised by the International Halal Authority Board (IHAB) which was initiated by Malaysian Islamic Development Department (JAKIM) to ensure halal Integrity practice around the world. This pact connects 50 million Stock Keeping Units (SKU) and 2 million halal certified companies out of 46 countries which promises around 3 trillion growth by 2023 in the halal food market alone. By 2022, halal cosmetic market is expected to reach 54.16 billion U.S. dollars in market value and those are only two halal market segments. There are still more segments such as, pharmaceuticals, personal care and hotels to name a few.

 

COMPETITION

Unlike any other halal solution provider, Serunai is the only one with a Global Halal Data Pool (GHDP) which connects businesses globally to 40k buyers, distributors and retailers.  

 

FUNDING

With this Equity Fund Raising Round, we are aiming to raise RM5 million at a pre money valuation of RM50m.
The funds will be utilised as follows:

 

VISION

To be the leading expert in providing digital platforms that interconnects & expands niche market while enriching the digital Halal ecosystems.

 

INVESTORS

Serunai Commerce are backed by one of Malaysia’s largest corporate venture capital fund, Axiata Digital Innovation Fund, a technology venture fund who has invested in only a select few companies and nurturing these companies onto a successful venture.

Axiata Group is a prominent mobile network and telco tower operator who own over 4,000 telecommunications towers in Malaysia and manages more than 5,000 towers in the country.

Across the region, it owns over 27,000 towers inside and outside Malaysia. Several parties have indicated the valuation of their business at RM12bil.

 

FOUNDERS

  • Chief Executive Officer of Serunai Commerce Sdn Bhd
  • Group CEO of Beyond Corporate House Sdn Bhd
  • Masters Degree in International Relations, Claremont University, California, USA
  • B A in Management Political Science
  • Reputable advisor and strategist to international companies in assisting the companies to establish themselves in Malaysia
  • Contributed her views in many government trasformation programs
  • Held several high committee posts for a few international business chambers
  • Elected as the Chairman of SME Committee in advocating policies and programs to the government

 

  • Entrepreneur
  • Passionate about e-business
  • 25 years in the software industry, combining strategic e-business consulting, e-commerce architecture and designing business focused solutions for some of the world's most successful companies
  • Build IVIS Group in the UK from the ground up in 1994 and organically grew the business on a professional services model
  • Launched a new product development venture to further expand the business which has culminated in the commercialisation of Sonetto, a strategic suite of Multi-Channel Information Management solutions
  • Setup IVIS Group Malaysia to increase the capacity of the UK operation and target opportunities in South East Asia market
  • Setup Serunai.com in Malaysia as a customer centric lifestyle online retailer

 

 

TEAM
BOARD OF DIRECTORS

  • Partner in Intres Capital Partners
  • Founding partner of QuestMark Capital Management, a venture capital management firm based in Kuala Lumpur with operations in Hong Kong
  • With MSC Venture Corporation, and involved in Malaysia's first venture fund focused on the ICT Industry
  • Active on the boards of portfolio companies involved in TV media, animation, new media, mobile applications, Big Data, medical devices and green technology industry
  • Experience includes the setup and adoption of new business models and turnaround and workout strategies for such companies
  • Represents ADIF on the boards of Aerodyne, Easyuni Vav Apps and Katsana
  • BBA in Computer Information Systems, Western Michigan University, USA
  • Past Chairman of the Malaysian Venture Capital and Private Equity Association (MVCA)

 

  • Board Director in PennPetro Energy Plc, PennPetro Bonds, Serunai Commerce Sdn Bhd, SRI Capital Holdings Sdn Bhd and is a Senior Advisor to Partners in Performance Pty Ltd
  • Vice President of the Malaysian Swedish Business Association
  • Vast international experience in the aerospace and automotive sector with Rolls Royce International, Volvo Truck Corporation and VistaJet International
  • Leading managerial positions in various parts of the world, from South America to Asia (Iran, Turkey, SIngapore, Thailand and Malaysia)
  • Last position at Rolls Royce was as Regional DIrector, Malaysia with overall responsibility for Rolls Royce's business in Malaysia and Brunei (Marine, Nuclear and Oil Gas) and represented the company at the highest level, leading and facilitating the company's interest and activities

 

  • Vast experience in public sector administration and has served in several ministries including Ministry of International Trade and Industry (MITI), Ministry of Agriculture and Ministry of Primary Industries
  • Served the Government of Malaysia for 36 years and 2 months before retiring on 15th August 2018
  • Instrumental in the formulation of the SME Masterplan that charts the direction of SME development until the year 2020 during tenure as the Chief Executive Officer of SME Corporation Malaysia (SME Corp Malaysia)
  • Thousands of micro businesses to medium sized companies benefitted from the various SME policies and programmes that were formulated during her tenure
  • Boards of Johor Corporation, Zurich Takaful and SIRIM Berhad
  • Chairman of Pharmaniaga, SIRIM Tech Venture (STV), Serunai Commerce Sdn Bhd
  • President of the Arab Malaysia Chamber of Commerce
  • SME Advisor to Bank Islam

 

  • Jamal oversees Gobi's Malaysian operations and investment activities
  • He is active in developing the Malaysian VC and startup ecosystem and, as the CEO, was responsible in building MAVCAP's fund-on-fund activities through creating and seeding funds with local and foreign partners since 2011
  • Started off his career in investment banking as investment analyst and then joined the VC industry in 2005
  • At Gobi, he succesfully created and launched $20m venture fund in Pakistan, in collaboration with the Fatima Group, one of the country's largest conglomerates
  • He was the Chairman of Malaysian Venture Capital Association in 2012/3, member of the Securities Commission's Malaysian Venture Capital Development Council, founding member and Treasurer of Global Entrepreneurship Movement and actively participates in the promotion of startup activities as speaker, judge and industry panel as well as angel investing

 

TEAM SERUNAI

Serunai Commerce comprises of vibrant Individuals with love and passion towards benefitting not only Muslim community globally but also the world community through the quality assurance that halal offers. This team also aspire to make an impact and work relentlessly In digitalising halal as the world's leading halal technology solution providers.

 

PRESS

 


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