SMJ TERATAI SDN BHD | APEA - Asia Pacific Enterprise Awards Asia Pacific Enterprise Awards

CORPORATE EXCELLENCE CATEGORY

SMJ TERATAI SDN BHD

Information about the Company
SMJ Teratai Sdn Bhd (SMJ Teratai) operates as a licensed Money Services Business (MSB) corporation in Malaysia, and it is regulated by the Central Bank of Malaysia. As a member of the Silverlake Group, a globally recognized provider of banking IT solutions, the company offers a comprehensive range of MSB services. These services encompass retail currency exchange, wholesale currency exchange involving the import and export of currency notes, and money transfer solutions.

The company ensures accessibility to its services through a variety of channels, including branches located throughout the country, wholesale hubs, agent outlets, corporate marketing teams, and mobile kiosk counters. Additionally, SMJ Teratai has a digital channel that provides e-money products and e-remittance solutions, accessible via its mobile app, eWANG. The customer base of the company is diverse and comprises foreign workers, expatriates, travelers, multinational corporations (MNCs), small and medium enterprises (SMEs), licensed money changers, and financial institutions, both domestically and overseas.

The company’s overarching Vision is to establish itself as the leading MSB corporation in Southeast Asia. In pursuit of this goal, SMJ Teratai remains committed to the continuous improvement of its products, services, and operational procedures. The company strives to create mutually beneficial business opportunities for its partners, agents, associates, and clients. Delivering excellent, convenient, and cost-effective services to its valued customers is the primary focus of SMJ Teratai. By fostering trust and adding value to its customers’ experiences, the company aims to cultivate long-term relationships based on satisfaction and confidence.

Corporate Culture & Company Activities
SMJ Teratai places a strong emphasis on Corporate Social Responsibility (CSR) and believes in making a positive impact on the community. The company actively engages in various CSR initiatives to contribute to the betterment of society. One of its key CSR activities is a monthly charity program and fundraising activities. Its employees actively participate in these events, showcasing their commitment to giving back. To encourage employee donations, the company matches each monthly donation raised on a 1:1 basis, amplifying the impact of their contributions.

The company’s CSR efforts extend across multiple regions in the country, where it supports various charity NGOs, assists underprivileged families, and contributes to disaster relief programs. As a sustainable enterprise, SMJ Teratai is committed to making a positive impact in the community and helping those in need.
Achievements & Impact
SMJ Teratai has received notable recognition for its remarkable growth and achievements in the financial industry.The company prioritizes the development of its employees and provides various opportunities for their growth. Talent development initiatives include on-the-job training, mentoring programs, and a performance appraisal system that rewards employees based on their contributions. Career advancement is encouraged, and a culture of learning is fostered through professional training on SOPs, compliance with AMLA regulations, and cybersecurity. The monitoring team is equipped with the necessary skills to identify and mitigate risks.

To facilitate continuous learning, an e-learning platform is offered where employees can access modules and assessments online. Team effort and workers’ engagement are emphasized, and top-performing branches and employees are recognized during the annual dinner. Furthermore, the dedication of long-serving employees is acknowledged through the company’s long service award, celebrating their commitment at the 3, 5, and 10-year milestones.

At SMJ Teratai the company values its employees’ growth, engagement, and contributions, fostering a supportive environment that enables them to thrive and contribute to the ongoing success of the organization.

Future Direction
SMJ Teratai is currently directing its efforts towards strategic initiatives aimed at enhancing its future direction. These initiatives revolve around the diversification of the company’s product offering, the expansion of its delivery channels, and the extension of its market reach.

To achieve the goal of diversifying its product offerings, SMJ Teratai has embarked on a foray into the wholesale currency exchange business. In addition to its existing retail money changing and money transfer services, the company now engages in the import and export of foreign currency notes to and from overseas. The overarching plan entails establishing multiple wholesale hubs at strategic locations and expanding the network of overseas counterparts to accommodate larger transaction volumes.

Furthermore, the introduction of eWANG, the company’s eWallet product, has provided customers with a convenient and secure electronic payment option. Collaborating with various business partners, SMJ Teratai is actively exploring the creation of additional digital products to cater to the evolving needs of its customer base.

In terms of delivery channels, SMJ Teratai places its focus on the expansion of its branches and agent network. Currently operating over 120 outlets across Malaysia, the company actively pursues further growth to increase customer touch points and support its digitalization efforts. Additionally, to reach underserved areas such as plantations and construction sites, mobile remittance kiosks are deployed, extending financial services to communities with limited digital and financial literacy.

CORPORATE EXCELLENCE CATEGORY

SMJ TERATAI SDN BHD

Information about the Company
SMJ Teratai Sdn Bhd (SMJ Teratai) operates as a licensed Money Services Business (MSB) corporation in Malaysia, and it is regulated by the Central Bank of Malaysia. As a member of the Silverlake Group, a globally recognized provider of banking IT solutions, the company offers a comprehensive range of MSB services. These services encompass retail currency exchange, wholesale currency exchange involving the import and export of currency notes, and money transfer solutions.

The company ensures accessibility to its services through a variety of channels, including branches located throughout the country, wholesale hubs, agent outlets, corporate marketing teams, and mobile kiosk counters. Additionally, SMJ Teratai has a digital channel that provides e-money products and e-remittance solutions, accessible via its mobile app, eWANG. The customer base of the company is diverse and comprises foreign workers, expatriates, travelers, multinational corporations (MNCs), small and medium enterprises (SMEs), licensed money changers, and financial institutions, both domestically and overseas.

The company’s overarching Vision is to establish itself as the leading MSB corporation in Southeast Asia. In pursuit of this goal, SMJ Teratai remains committed to the continuous improvement of its products, services, and operational procedures. The company strives to create mutually beneficial business opportunities for its partners, agents, associates, and clients. Delivering excellent, convenient, and cost-effective services to its valued customers is the primary focus of SMJ Teratai. By fostering trust and adding value to its customers’ experiences, the company aims to cultivate long-term relationships based on satisfaction and confidence.

Corporate Culture & Company Activities
SMJ Teratai places a strong emphasis on Corporate Social Responsibility (CSR) and believes in making a positive impact on the community. The company actively engages in various CSR initiatives to contribute to the betterment of society. One of its key CSR activities is a monthly charity program and fundraising activities. Its employees actively participate in these events, showcasing their commitment to giving back. To encourage employee donations, the company matches each monthly donation raised on a 1:1 basis, amplifying the impact of their contributions.

The company’s CSR efforts extend across multiple regions in the country, where it supports various charity NGOs, assists underprivileged families, and contributes to disaster relief programs. As a sustainable enterprise, SMJ Teratai is committed to making a positive impact in the community and helping those in need.
Achievements & Impact
SMJ Teratai has received notable recognition for its remarkable growth and achievements in the financial industry.The company prioritizes the development of its employees and provides various opportunities for their growth. Talent development initiatives include on-the-job training, mentoring programs, and a performance appraisal system that rewards employees based on their contributions. Career advancement is encouraged, and a culture of learning is fostered through professional training on SOPs, compliance with AMLA regulations, and cybersecurity. The monitoring team is equipped with the necessary skills to identify and mitigate risks.

To facilitate continuous learning, an e-learning platform is offered where employees can access modules and assessments online. Team effort and workers’ engagement are emphasized, and top-performing branches and employees are recognized during the annual dinner. Furthermore, the dedication of long-serving employees is acknowledged through the company’s long service award, celebrating their commitment at the 3, 5, and 10-year milestones.

At SMJ Teratai the company values its employees’ growth, engagement, and contributions, fostering a supportive environment that enables them to thrive and contribute to the ongoing success of the organization.

Future Direction
SMJ Teratai is currently directing its efforts towards strategic initiatives aimed at enhancing its future direction. These initiatives revolve around the diversification of the company’s product offering, the expansion of its delivery channels, and the extension of its market reach.

To achieve the goal of diversifying its product offerings, SMJ Teratai has embarked on a foray into the wholesale currency exchange business. In addition to its existing retail money changing and money transfer services, the company now engages in the import and export of foreign currency notes to and from overseas. The overarching plan entails establishing multiple wholesale hubs at strategic locations and expanding the network of overseas counterparts to accommodate larger transaction volumes.

Furthermore, the introduction of eWANG, the company’s eWallet product, has provided customers with a convenient and secure electronic payment option. Collaborating with various business partners, SMJ Teratai is actively exploring the creation of additional digital products to cater to the evolving needs of its customer base.

In terms of delivery channels, SMJ Teratai places its focus on the expansion of its branches and agent network. Currently operating over 120 outlets across Malaysia, the company actively pursues further growth to increase customer touch points and support its digitalization efforts. Additionally, to reach underserved areas such as plantations and construction sites, mobile remittance kiosks are deployed, extending financial services to communities with limited digital and financial literacy.