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CNA
a day ago
- CNA
'A visionary leader': Industry players, ex-colleagues pay tribute to late Microsoft Singapore head Lee Hui Li
SINGAPORE: The late managing director of Microsoft Singapore Lee Hui Li was known as a visionary leader and someone who was warm and authentic, industry players and former colleagues told CNA on Friday (Jul 25). Ms Lee died on Thursday, according to her public obituary. She had gone on sabbatical from her role in May this year to focus on her health. Her wake is being held at the Church of St Ignatius in King's Road from Friday, with her funeral taking place on Monday morning. "Hui Li was a visionary leader whose impact on Microsoft and the broader technology landscape in Singapore was profound,' a Microsoft Singapore spokesperson told CNA. Throughout her career, Ms Lee was known 'not only for her strategic brilliance, but for her warmth, authenticity, and unwavering belief in the potential of others and of Singapore', the spokesperson added. 'She mentored countless leaders, built inclusive teams, and inspired all of us to lead with purpose. We extend our heartfelt condolences to Hui Li's family, friends, and colleagues,' she said. Ms Lee also chaired the National University of Singapore (NUS) School of Computing's Industry Advisory Committee from July 2023. 'Hui Li was a deeply respected industry leader, known not only for her professional achievements but for her passion to make a meaningful impact on society,' said Mr Edward Chen, deputy chief executive of the Cyber Security Agency of Singapore (CSA). He called Ms Lee 'a tireless advocate for practical and forward-looking AI (artificial intelligence) education ', playing a pivotal role in shaping the new Business Artificial Intelligence Systems programme's curriculum to ensure its relevance to the evolving needs of industry. 'Beyond her accomplishments, Hui Li was a warm and trusted colleague – someone you could always count on to offer thoughtful advice and a helping hand,' said Mr Chen, who is a member of the committee too. 'Her generosity of spirit and commitment to nurturing the next generation will be remembered by all who had the privilege of working with her.' Another committee member, Monetary Authority of Singapore assistant managing director for technology Vincent Loy, said Ms Lee was 'always open to new ideas and made efforts to ensure that everyone involved in the discussions and decision-making processes was heard and valued'. 'She was also a strong advocate for entrenching artificial intelligence into the university's curriculum, to make it future-proof. My heartfelt condolences to Hui Li and her family,' said Mr Loy. The NUS School of Computing said in a statement on its website that Ms Lee's 'unwavering dedication and wise counsel forged an enduring legacy, profoundly shaping the committee and the School'. 'Ms Lee played an instrumental role in launching Microsoft Research Asia-Singapore and strongly advocated for our Business Analytics and Intelligent Systems (BAIS) programme,' it said. Launched on Thursday, Microsoft Research Asia-Singapore is the firm's first research lab in Southeast Asia, focused on AI research and talent. 'Her influence will continue to resonate, and she will be deeply missed by all who worked alongside her,' the school said of Ms Lee's legacy. East Coast GRC Member of Parliament Jessica Tan, who was managing director of Microsoft Singapore from July 2013 to December 2016, said that she was 'a dynamic leader and committed to growing the impact of technology in Singapore'. DEEP INDUSTRY EXPERIENCE Ms Lee's death was first reported by financial news outlet The Business Times on Thursday. In her LinkedIn profile, Ms Lee described herself as someone with 'a deep understanding of the challenges and opportunities that lie ahead in the rapidly evolving digital economy'. 'I am passionate about creating new innovation, building trust and resilience, empowering digital natives, and nurturing a culture of inclusion,' she wrote. 'I also champion diversity & inclusion, allyship, and encouraging more women to build their future in the technology industry, having initiated mentorship and coaching programs for female communities.' Ms Lee was managing director for Microsoft in Singapore and Brunei from March 2022. Before that, she was a general manager leading the firm's Asia-Pacific enterprise commercial sales and industry teams from July 2021. Her 27-year career had also taken her through other firms in the sector, such as IBM, Symantec, Dell, HP and EY, according to her LinkedIn profile. Since November 2023, Ms Lee had also been a member of the Ministry of Trade and Industry's Green Skills Committee, which identifies the skills needed in the industry as it shifts towards a sustainable, lower-carbon economy.
Independent Singapore
a day ago
- Independent Singapore
Chocolate Finance secures US$15M in fresh funding after 'unusually high' withdrawals wipe out nearly 40% of its assets
SINGAPORE: Chocolate Finance has secured US$15 million (S$19.20 million) in fresh funding, four months after 'unusually high' customer withdrawals wiped out nearly 40% of its assets under management. The fintech company made the announcement on Thursday (July 24), saying the funds came from Nikko Asset Management, as well as returning investors Peak XV (formerly Sequoia Capital India and Southeast Asia), Prosus, Saison Capital, and the firm's founder and CEO, Walter de Oude, as reported by Channel News Asia (CNA) . The new capital will go towards expanding the business in the region, starting with Hong Kong. The company recently got regulatory approval there and plans to launch in the first quarter of 2026. Mr De Oude told CNA that the Hong Kong expansion is the company's 'logical next step' as it has similarities in regulation and tech infrastructure with the city-state. He also told Marketing-Interactive that while he anticipates a similar demand for simple financial solutions there, the company won't be 'copy-pasting' its Singapore playbook, as Hong Kong has its own 'rhythm.' The brand also aims to connect with the younger generation there. The announcement came after the company halted instant withdrawals following what it described as an 'unusually high' number of withdrawal requests in March. The company later announced that customers will have to wait for three to six business days to receive their funds , following standard industry practice. CNA reported that over a two-week span, users withdrew S$500 million, sharply cutting into 40% of the company's S$1 billion asset base at the time. Mr de Oude said the company's assets under management have yet to fully recover but have reached nearly S$900 million, and it is getting closer to profitability. He added that while customers currently need to wait up to three days for their withdrawals to be processed, instant withdrawals could be reintroduced in the future. 'We're continuing to look (at) how we can innovate in that space as we roll out,' he said. 'But what we have found is that actually … up to three days for a withdrawal is good enough,' he added. The March incident followed the quiet suspension of AXS payments on Chocolate Finance's debit card, sparking backlash over opaque communication from the firm. At the time, the company's generous two-miles-per-dollar offer—covering categories usually excluded education fees and AXS payments—proved unsustainable, said Mr de Oude. He noted that the mileage programme has been 'pared back a little bit' to make it 'more sustainable,' with customers still able to earn up to two miles per dollar but 'without loopholes.' 'We've had to tweak things a little bit, around our communications and the understanding of our products and services,' he added. /TISG Read also: 2025 is shaping up to be a problematic year, yet the rich are cashing in on rock-bottom stock prices
CNA
2 days ago
- CNA
Malaysia exploring nuclear power options to meet growing energy demand
KUALA LUMPUR: Malaysia is taking steps to reintroduce nuclear power into its long-term energy strategy, as the country faces growing electricity demands and increasing pressure to combat climate change. After years on the back burner, the government has restarted planning for nuclear energy, with preparations underway to explore small modular reactors in remote places on the peninsula. "We have made (a) public announcement - that nuclear is one of the options we're looking at,' Deputy Prime Minister Fadillah Yusof told CNA. 'But of course when (it comes) to nuclear, we have to go into all the details, working with internationals to get endorsement, to sign all the agreements, and more importantly, to engage the public," added Fadillah, who is also Minister of Energy Transition and Water Transformation. Malaysia began its nuclear journey over 50 years ago, initially focusing on research. A shift toward nuclear power planning started in 2011, but the Fukushima disaster and a subsequent change in government in 2018 led to the plan being shelved. DOUBTS LINGER AMONG THE PUBLIC The current administration is reactivating those efforts - but winning public support could prove to be the biggest challenge. 'Fukushima actually left lasting impressions on Malaysians, and they have legitimate doubts whether we are ready to manage such a complex and high-risk technology,' said Theiva Lingam, legal advisor at non-governmental environmental organisation Friends of the Earth Malaysia. A 9.0-magnitude earthquake on Mar 11, 2011, triggered a massive tsunami that destroyed the Fukushima Daiichi nuclear plant's power supply and cooling systems, causing three reactors to melt and spew large amounts of radiation. Lingam added: 'I think it would still be difficult to convince the public, because, again, it's a question of safety, transparency. And of course, at the end of the day … where is the waste going to be kept?" Environmental advocates also argued that Malaysia should focus on accelerating renewable energy deployment instead. "If we are pushing for the ambition of (getting to) net zero by 2050, we should push for a direct transition towards renewable energy, such as solar and wind and/ a total phase out of fossil fuel," said Hamizah Shamsudeen, a climate and energy campaigner at Greenpeace Malaysia. But there are limitations to renewable sources, with officials noting that they cannot reliably serve as base load power sources. "We cannot use solar and wind as base load because they are intermittent. Like it or not, we have to see nuclear power as an option, otherwise we cannot fulfil the net zero emission (target),' said Minister of Science, Technology and Innovation Chang Lih Kang. 'Besides that, we also cannot cope with the energy demand which is getting increasingly important, especially (with) more investors coming in, including data centers. Energy consumption is very high.' Malaysia recently signed a memorandum of understanding with the United States on civil nuclear cooperation and has also pledged to explore a small modular reactor with Russia. REGIONAL MOVES Other countries in the region are making similar moves. World Nuclear Association's head of policy and industry engagement King Lee said a 'sea of change' has emerged across Asia in terms of policy. "Bangladesh is constructing two reactors right now. The first unit is nearly complete and we expect the first unit to start operation by the end of this year. And recently, this year, Vietnam have declared their intention is to have the two units up and running by 2030,' he noted. 'The other countries in Southeast Asia are the Philippines and Indonesia (which) have plans for nuclear energy. The Philippines have a reactor that has been built but (isn't in operation yet).' Other challenges remain, such as Malaysia having ratified only half of the 16 international documents required for a civil nuclear programme. The government is in the midst of amending its Atomic Energy Licensing Act, which is the primary legislation governing nuclear activities in Malaysia, to comply with standards required by the International Atomic Energy Agency. The country also currently has only about 30 skilled workers in the nuclear field. Experts estimate it will need to expand that workforce by at least 10 times to meet its 2035 nuclear energy goals.
