KUALA LUMPUR: TNG Digital Sdn Bhd, the operator of Malaysia’s leading digital financing services and lifestyle app, TNG eWallet, aims to attract 10% to 20% of its 8.5 million TNG GoFinance users into global market traders over the next few years, with a focus on making investing more accessible and improving users’ understanding of trading.
TNG Digital chief financial services officer Desmond Teoh said many GoFinance users had already taken their first step into investing through its money market fund, providing a foundation to explore other investment opportunities.
“I would be lying if I said I had a number in place. If I were to put a number to it, I would wish that at least 10% to 20% could start their journey in the next few years,” he said at the TNG Digital and Webull Securities Malaysia Sdn Bhd strategic partnership event yesterday.
Teoh said TNG Digital is looking beyond user acquisition to build investment knowledge and confidence.
He said the partnership with Webull Malaysia aims to make global trading more accessible to a wider audience, with the newly launched offering expected to bring more Malaysians into the investment market.
TNG Digital and Webull Malaysia formalised a strategic partnership to introduce global share trading through GOfinance, TNG eWallet’s all-in-one financial hub.
The collaboration will allow Malaysians to access US, Hong Kong and China A-share markets, significantly expanding their investment choices through an app they already use for everyday payments and financial services.
The collaboration leverages the strengths of both platforms, with TNG eWallet’s familiar, secure access point and Webull Malaysia delivering regulated brokerage services and advanced trading tools.
Users can open a Webull Malaysia trading account digitally via GOfinance and fund it directly through their TNG eWallet balance, subject to eligibility and account approval.
TNG eWallet currently has 27 million verified users and more than 2 million merchant touchpoints nationwide.
Webull Malaysia CEO Kenneth Chan said the collaboration with TNG Digital would complement TNG GoFinance’s existing investment offerings, which already cover various asset classes, by adding access to global markets.
“GoFinance has done a great job diversifying into different types of investments, and Bursa Malaysia is already there.
“We are bringing our expertise in global investment to fill the gap in that area,” he said.
Chan said the partnership with TNG Digital aimed to make investing more accessible to first-time investors, although the company has yet to set a transaction value target.
“As a broker, I want the transaction value to be as high as possible. The sky is the limit,” he said, adding that the collaboration was focused on helping Malaysians take their first steps into investing.
Chan said first-time investors were unlikely to commit large sums when starting out, making accessibility a key consideration in the partnership.
“The whole purpose of the collaboration is to make investing easy for first-time investors and to enable investing for all Malaysians,” he said.
On cryptocurrency, Chan said the company was actively studying the opportunity following the Securities Commission Malaysia’s move to allow stockbrokers to offer crypto-related services this year, but had not yet made any firm plans.
Elaborating further on the collaboration, Teoh said the partnership between TNG Digital and Webull Malaysia aimed to make global investing more accessible to everyday Malaysians, rather than limiting it to experienced or high-net-worth investors.
He said the companies shared a priority of bringing global investing to the mass market, while ensuring the platform could also cater to more experienced investors.
“When we say mass market, it does not just mean the masses. It essentially means giving access to everyone,” said Teoh.
He said experienced investors could still use the platform for larger investments, adding that the key objective was to remove barriers for those who had previously found global investing difficult to access.
“It does not mean that if someone is experienced in trading, they cannot trade through TNG eWallet and Webull Malaysia and buy US$20,000 or US$1 million. That is a given if you want to,” he said.
Teoh said the partnership would also address traditional barriers to investing, including cumbersome processes that can require investors to complete physical forms.
“The crux of it is still the same. The conventional way of trading through the normal means, unfortunately, for most players, you still have to go through some paper forms to be able to do that,” he said.
