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, has partnered with Ultrack Technology Sdn Bhd (TrackerHero), a leading provider of security workforce management solutions, in what they claim is a first-of-its-kind collaboration. This partnership combines 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 under its national Business Digitalisation mandate, and officiated by the political secretary to the Minister of Home Affairs (KDN), this initiative will enable over 1,200 licensed security firms to adopt proven digital workforce tools. The project is supported by US$42 million (RM200 million) in committed financing from CapBay.
The initiative aims to enhance transparency, compliance, and service reliability for end clients, including public sector agencies, while simultaneously improving margins and contract fulfilment for SMEs, according to a joint statement from CapBay and TrackerHero.
The launch ceremony featured opening remarks 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 his appointment, Tuan Haji Omar Mokhtar emphasized the critical importance of digitalisation for the security industry under KDN’s purview. He praised TrackerHero for leading transformation efforts, CapBay for enabling easy 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 Director of MDEC.
Following the officiation, the dignitaries toured a technology showcase featuring various innovations. TrackerHero demonstrated AI-enabled patrol devices, real-time operations management systems, and surveillance drones. Meanwhile, CapBay presented its inclusive financing package designed to remove upfront cost barriers for adoption.
Also present was the Faculty of Artificial Intelligence from Universiti Teknologi Malaysia, a partner of TrackerHero, highlighting Malaysia’s research strengths and talent pipeline contributing to the national digitalisation agenda.
Wide-Ranging Impact on Malaysia’s Security Services Sector
The partnership is expected to make a significant impact across Malaysia’s security services sector. With US$42 million (RM200 million) in flexible financing linked to operational digitisation, SMEs will be able to adopt digital tools faster and with minimal upfront costs.
The initiative promises stronger compliance and transparency through verifiable workforce management and auditable patrol data, benefitting both public and private clients alike.
Moreover, data-driven scheduling and improved accountability will enhance contract fulfilment for high-value government and corporate clients.
Importantly, this initiative aligns with national priorities, supporting MDEC’s business digitalisation mandate as well as KDN’s oversight of the security guard ecosystem.
Leadership Perspectives
Ang Xing Xian, Co-founder and Group CEO of CapBay, said:
“This 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.”
Izzat Hanif, Co-founder and CEO of TrackerHero, added:
“This partnership is about execution at scale — bringing financing and technology together so security SMEs can digitise without friction. Partnering with CapBay and under 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, said:
“MDEC welcomes this partnership as it reflects the spirit of the Malaysia Digital Business Digitalisation Initiative, which aims 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.”
Future Plans Beyond Security
Beyond the security industry, CapBay and TrackerHero plan to expand this partnership model to other sectors facing similar workforce and operational challenges, including logistics and facilities management.
This extension supports Malaysia’s broader ambition to become a digitally driven nation, harnessing technology and financing solutions to empower SMEs and drive sustainable economic growth.