Telekom Malaysia Berhad (TM) and ZTE (Malaysia) Corporation Sdn Bhd have entered into a new partnership to build a hybrid cloud 5G core network that is designed for future technologies and applications.

 

Over the next three years, this strategic partnership will foster innovation and advancement of state-of-the-art technologies for TM’s 5G Core project, which includes bare metal containers, SDN-based architecture, hardware acceleration, CUPS, and 3-layer decoupling. Advancements in these technologies will propel the development of a converged, open, reliable, trusted and efficient 5G core network.

 

This rollout is anticipated to transform and revolutionise the way that data will be processed and transmitted, which could significantly impact the development of future technologies and applications. Developing a high-capacity network will also address the rising need for network bandwidth and speed as Malaysia’s 5G adoption and ecosystem accelerates.

 

The integration of this converged network will strengthen TM’s capabilities to provide seamless connectivity and exceptional network performance, serving a diverse range of industries, including healthcare, finance, transportation, and education. Additionally, the hybrid cloud 5G core network will aid in the growth of smart cities, Internet of Things (IoT), and other next-generation technologies that necessitate rapid, low-latency connectivity.

 

This collaboration marks a significant achievement in the advancement of 5G technology in Malaysia, with the novel hybrid cloud 5G core network anticipated to revolutionise Malaysia’s telecommunications industry. With the deployment of these sophisticated technologies, customers will gain unparalleled user experience, while also improving the network's dependability, safety, and efficiency.

 

Jasmine Lee Sze Inn, TM’s Executive Vice President for Mobile said, “TM is pleased to partner ZTE in building a hybrid cloud 5G core network that is designed to meet the rising needs for future technologies. This strategic partnership will transform 5G-enabled networks to deliver innovative solutions and services through our state-of-the-art network and infrastructure, and enable seamless connectivity and exceptional network performance.

 

 

“We believe that this collaboration will further accelerate the adoption of 5G networks across Malaysia, and enable next-generation technology such as smart cities, Internet of Things, Artificial Intelligence, automation and other future technologies to drive both industry and the nation’s digital agenda forward.”

 

ZTE Malaysia’s Chief Executive Officer, Mr Steven Ge, is also excited about the prospect of this collaboration and how it will advance the development of a converged, open, reliable, trusted and efficient 5G core network.

 

Mr Steven Ge said: “We’re excited to strengthen our partnership with TM through the development of a hybrid cloud 5G core network. This will accelerate the launch of 5G network across Malaysia, which will bring forth new innovation into the market. As a global leading provider of information and communication technology solutions we are confident that the advancement of our hybrid cloud 5G core network will be the model for future networks. ZTE is committed in this collaboration that will put Malaysia as one of the leading countries in the region to roll-out its 5G network.”

Telekom Malaysia Berhad (TM) joined organisations worldwide to celebrate International Women’s Day, honouring the women of TM as well as all women spearheading innovation and technology.

 

Supporting the United Nations’ efforts to recognise women and girls who are championing the advancement of transformative technology and digital education, the event was themed DigitALL: Innovation and technology for gender equality and was officiated by YB Teo Nie Ching, Deputy Minister of Communications & Digital.

 

In addressing the event, YB Teo said, “Today marks a special occasion to celebrate the efforts and contributions of women from all walks of life and to recognise their role in families, workplaces and communities. This event hosted by TM also serves as a platform for the exchange of ideas and new perspectives about gender equality especially in today’s digital realities.

 

“As Malaysia continues to advance digitally, more conversations are needed about enabling greater inclusion and diversity in the technology and digital sector. We must also drive on why it is fundamental to ensure equal opportunities for digital literacy and access to online resources, while increasing the protection of women and girls in digital spaces.”  

 

Echoing these sentiments about equality in the digital sector, Dato’ Imri Mokhtar, TM’s Group CEO explained, “As TM progresses towards becoming a human-centred TechCo, we believe that the most crucial element for our digital future is the growth and capabilities of our talents.

 

“With 37% of our top level management being women, we are pleased to launch ASPIRE: A Women’s Advancement Programme by TM. This 1-year leadership development programme aims to cultivate a new generation of women leaders, and tap into their unique perspectives and experiences to enrich TM’s innovation and long-term sustainability.”

 

With the first 30 high-performing employees already on-boarded in the programme, participants will be groomed to grow their professional image and personal branding, explore skills to lead, influence, negotiate and navigate today’s workplace, and gain opportunities to connect with peers, mentors and sponsors to enhance their future career progression.

 

This new programme serves as the latest in TM’s ongoing efforts to empower women, including its efforts to support the wider community.

 

This includes Yayasan TM (YTM), the foundation arm of TM, which offers scholarships that have benefitted high-performing students – with 49.5% of its current scholars studying in Malaysia and overseas made up of young women.  At the same time, TM’s subsidiary Multimedia University recorded that 49.3% of its employed graduates were young women – a positive reflection in enabling equal opportunities for the next generation of game-changers.

 

Tapping into the insights of current women game-changers, the event included panellists Dr Sumitra Nair, Head and Senior Vice President Strategy & Policy, MDEC; Yuki Aizawa, Country Director Malaysia Chapter, Women in Tech Global Movement; and Mariam Jaafar, Managing Director and Partner at Boston Consulting Group, Singapore.

 

Moderated by TM’s Chief Human Capital Officer, Sarinah Abu Bakar – who is also serving as sponsoring mentor for the ASPIRE programme with Shanti Jusnita Johari, TM’s Chief Marketing Officer – the panel addressed issues such as the role of innovation and technology in empowering women and girls in Malaysia, the gap between urban and rural use of innovative technology, and the importance of women role models for today's youth.

 

“Today’s event and the launch of ASPIRE are part of our continuous commitment to enriching the prosperity and livelihoods of our Warga TM, and across the nation and beyond. The success of TM’s transformation journey is anchored on our dedicated workforce, loyal customers and local communities. Therefore, we see it as our duty and obligation to empower the lives of our people and communities, ensure greater digital inclusion, and prepare them for excellence in the digitalised future,” Dato’ Imri Mokhtar concluded.

TM One, the business-to-business arm of TM, has signed a Memorandum of Understanding (MOU) with Universiti Sains Islam Malaysia (USIM) for a strategic partnership to enhance the university’s digital transformation and improve student experiences in digital learning.

 

Officiated on 6 March, the MOU was signed by Professor Dato’ Dr. Sharifudin Md. Shaarani, Vice Chancellor of USIM and Shazurawati Abd Karim, Executive Vice President, TM One.

 

To support USIM’s smart innovation journey, the partnership will be anchored on three (3) pillars, namely: the co-creation of an innovation ecosystem, talent development, and the sharing of insights on higher education and business trends – with the goal of developing USIM into a smart university.

 

Developing these pillars will allow USIM to pave its way towards a more seamless digital learning experience and improve its student experience processes. This includes online examinations, IT integration, security of sensitive data and intellectual property, smart solutions on campus, and end-to-end mobility solutions. Most importantly, this partnership will enable a more collaborative learning approach between USIM’s faculty and students, aligning the university to the needs of today’s global learners.

 

Professor Dato’ Dr. Sharifudin said, ”We are pleased to partner TM One in inculcating a data-first and digital-first mindset among our students, faculty and staff, which aligns us with the goals of MyDIGITAL and the Government’s digital aspirations. Through this partnership, we aim to tap into the extensive expertise of TM’s One solutions, services and professional insights to strengthen our technological and IT talent capabilities as we address the evolving needs of digital education. This collaboration comes at a timely and necessary stage of our development and will allow us to springboard to the next phase of our role in empowering future leaders and game-changers.”

 

Drawing on its broad range of solutions, TM One will support USIM’s digital transformation plan in five (5) different clusters; Smart Governance, Smart Infrastructure, Smart Services, Smart Learning and Smart Lifestyle.

 

Shazurawati said, “We are excited to be a part of USIM’s smart transformation journey and to work alongside them in reshaping their digital capabilities. Universities are at a critical turning point where they must embrace digitalisation or risk being left behind. Aligning to the needs of IR4.0, smart and innovative transformation will enable USIM to compete not only locally but in the global arena of today’s digital higher education ecosystems. Through this partnership, we will support USIM’s transformation journey through the latest and most secure digital solutions and infrastructure. Solutions such as cybersecurity, smart services, and mobility will enhance the digital capabilities of the institution, improving its teaching and learning, research administration, and student services.”

FY2022 Key Highlights (vs FY2021)

 

·        Operating Revenue grew 5.1% from RM11.53 billion to RM12.12 billion, with growth across all customer segments and product lines

·        EBIT grew 22.2% from RM1.71 billion to RM2.09 billion, driven by strong revenue growth and improved cost efficiency

·        PATAMI grew 27.7% from RM0.90 billion to RM1.14 billion, contributed by lower financing cost

·        CAPEX investment at 20.0% of revenue or RM2.43 billion, highest in 5 years primarily on growth in fibre service and network expansion

·        Final interim dividend at 7.5 sen per share declared amounting to RM286.6 million, with total dividend of 16.5 sen per share amounting to RM627.5 million for 2022

·        ESG rating upgraded, FTSE Russell rated 3.6 from 3.1 in 2021; CDP rated ‘B’ from ‘C’ in 2021. Both above industry average

·        FY2022 overall performance showed strong results with good trajectory and operational excellence across all lines of business

 

The financial year 2022 (FY2022) performance, ended 31 December 2022, represents Telekom Malaysia Berhad’s (TM) progress of its 3-year transformation programme (2021-2023). Moving into the final year of this transformation phase, TM remains committed to its focus in delivering value to its stakeholders.

 

Operating revenue grew by 5.1% to RM12.12 billion, from RM11.53 billion in 2021, fuelled by demand in connectivity, solutions and infrastructure. TM continued to strengthen its core businesses across Unifi, TM One and TM Global amidst intensified competition in the market.

 

Through revenue growth and improved cost efficiency, TM’s Earnings Before Interest and Tax (EBIT) grew by 22.2% to RM2.09 billion, from RM1.71 billion last year.

 

Profit After Tax and Minority Interest (PATAMI) rose to RM1.14 billion from RM0.90 billion, up 27.7% through higher operating profit and lower financing cost.

 

Capital Expenditure (CAPEX) stood at 20.0% of overall revenue, amounting to RM2.43 billion invested to deliver growth in fibre services, network modernisation and upgrades.

 

Unifi’s continuous growth momentum

 

Unifi continues its leadership in converged solutions of fixed broadband, mobile services, digital content and solutions for both consumers and MSMEs, recording a revenue growth of 7.5% from RM5.22 billion to RM5.61 billion contributed by increased number of home and MSME customers.

Unifi fixed broadband customers grew by 9.3% and exceeded the 3 million mark in 2022. To celebrate this milestone, customers were rewarded with free viewing of all 72 Unifi TV channels for one month, as well as pay-per-view movie discounts in appreciation for their trust and loyalty.  

 

Unifi launched its 5G services in November 2022, offering Uni5G plans to Unifi Mobile postpaid and prepaid customers. 5G will reinforce TM’s converged leadership to provide the widest and fastest all-in-one solution for fixed broadband, mobile service and digital content.

 

Unifi Business’ digital solutions continue to boost and support MSME’s digitalisation needs from cloud storage, eCommerce hub, cybersecurity and digital marketing, serving critical needs from connectivity to digital solutions, accelerating their business growth.

 

TM One drives enterprise-grade innovative solutions

 

TM One reported a 0.5% growth in revenue from RM3.32 billion to RM3.34 billion in 2022, after several years of revenue decline amidst changing market dynamics and competitive landscape. This is attributed to higher recurring revenue and bespoke solutions deployment, as a trusted technology partner for large enterprises and the Government.

 

Utilisation of data centre space and power have also increased in 2022. The twin-core data centre of KVDC and IPDC have obtained Green Electricity Tariff (GET) from TNB as well as Green Building Index (GBI) and Leadership in Energy Environmental Design (LEED) certifications.

 

To strengthen its partner ecosystem, TM One launched ‘5G Sphere’ in October 2022 and today counts on over 70 leading technology and smart solution partners to accelerate the co-creation of 5G use-cases. On the other hand, Credence is advancing enterprise’s ‘cloud-first strategy’ as well as developing technologically-skilled professionals to accelerate cloud adoption in Malaysia.

 

TM Global positions Malaysia forward as a digital hub in the region

 

TM Global (rebranded from TM Wholesale) delivered a strong performance which made a significant contribution to the overall 2022 performance. TM Global’s revenue grew 7.8% from RM2.58 billion to RM2.78 billion, on the back of higher domestic data and international digital demand.

 

Domestically, TM Global is the preferred partner for High-Speed Broadband Access (HSBA) with the highest new installation in 4Q 2022. Advancing the country’s 5G rollout, almost 4,000 fiberisation sites were completed for the year.

 

Internationally, TM Global closed deals from US-based hyperscalers and Asia-Pacific carriers for its wholesale data centre solutions and international data services, elevating Malaysia as a trusted digital hub for the ASEAN region.

 

 

Commentary and Outlook from Dato’ Imri Mokhtar, TM Group Chief Executive Officer

 

“2022 was a milestone year for TM, tracking well in our transformation with growth across our business segments – Unifi, TM One and TM Global, and cost efficiency improvement. The stronger financial position places TM in a position to deliver better value and benefits for our stakeholders – customers, shareholders, partner ecosystem and community.

 

“TM is committed to continuously invest in shaping a Digital Malaysia through technology that empowers communities, businesses and Government – not just in our core business, but also in new, adjacent growth areas such as cloud, data centre, cybersecurity and platform-services.

 

“Sustainability will also be a domain we strive to make continuous progress. We have seen improvements in TM’s ESG ratings, for example the FTSE Russell ESG score rising from 3.1 to 3.6 in 2022 and also the CDP rating upgrade to ‘B’ from ‘C’ last year, both above the industry average. On governance, TM upholds transparency, disclosure and zero-tolerance to all forms of corruption, receiving the Gold Category in the recent Integrity, Governance and Anti-Corruption Award (AIGA) 2022.

 

“As part of TM’s next transformation to become a human-centred TechCo, we announced a reorganisation in December 2022 to streamline our core businesses and subsidiaries under a new entity named TM Technology Services Sdn Bhd (TM Tech). TM Tech is set to become the main operating entity of the Group with effect from 1 March 2023. This new corporate structure will be the catalyst for the next phase of TM’s transformation to reinforce its fixed-mobile convergence leadership, further improve operational efficiencies and deliver a more seamless customer experience.

 

“On the back of our current business momentum, there are new opportunities in the adjacent growth areas but also industry headwinds in terms of regulatory policy and higher technology costs. We are continuously assessing the impact of industry developments and will work closely with key stakeholders towards providing technology that is accessible to all in this digital era.”

TM One, the enterprise and government sector solutions arm of Telekom Malaysia Berhad (“TM”), was named the Frost & Sullivan Malaysian Cybersecurity Services Company of the Year for 2022.

 

The award was decided based on a series of detailed evaluations following Frost & Sullivan’s best practices criteria, in which TM One excelled as a service partner in addressing Malaysia’s enterprise and government sector cybersecurity needs.

 

“TM One is recognised based on its extensive cybersecurity capabilities and resources. With a full suite of cybersecurity services and infrastructure, coupled with a deep understanding of the Malaysian market landscape, TM One continuously upholds a strong reputation of effectively addressing its customers’ security needs,” said Anh Tien Vu, Industry Principal, Global Cybersecurity Research Team at Frost & Sullivan.

 

Shazurawati Abd Karim, Executive Vice President, TM One, said: “We are honoured to receive the Frost & Sullivan Malaysian Cybersecurity Services Company of the Year Award. With cybersecurity emerging as a top priority for organisations in their transformation journey, we are committed to growing our end-to-end solutions so that we can provide our customers digital freedom and peace of mind as they expand their businesses in the digital space. Understanding their unique business needs, we work with organisations to assess their cybersecurity capabilities and provide advisory services through our dedicated TM One Cyber Defense Centre (CYDEC) – helping them make the right choices to respond to cyber threats more effectively.”

 

Addressing Cybersecurity Gaps among Enterprises and Public Sector

 

More Malaysian organisations are now investing heavily in cybersecurity. As they become increasingly present and vulnerable in the digital space, organisations need to adopt a stronger security posture in their information technology, operational technology, and cloud infrastructure capabilities.

 

Shazurawati said, “One of the key challenges for organisations is the shortage of in-house security expertise, professionals, and tools, requiring them to outsource their security operations. By working closely with customers to assess their security posture, technology maturity, and business needs, TM One offers customised solutions for managed security services, consultation and advisory, and other value-added services to help them navigate today’s complex technological landscape.”

 

TM One is also strengthening the public sector’s cybersecurity, working alongside the Malaysian Government to enhance digital connectivity and smart innovations for cities and industries to propel the nation towards becoming a digital economy. In addition to connectivity, TM One continues to invest in local data centres, digital infrastructure and services, ensuring data sovereignty remains within Malaysian borders while bringing global best practices to the nation’s public sector.

Its investments to strengthen Malaysia’s Critical National Information Infrastructure (CNII) is one of its efforts to protect government and public data, with its cybersecurity solutions developed in compliance with Bank Negara Malaysia’s Risk Management in Technology (RMiT) policy and the Personal Data Protection Act 2010 (PDPA).

 

Anh Tien Vu said, “One consideration that stood out for Frost and Sullivan was that TM One has earned endorsements and collaborations from local cyber authorities, such as Cybersecurity Malaysia and the National Cyber Security Agency (NACSA) of Malaysia through its implementation of best practices, and world-class infrastructure backed by experts. Frost & Sullivan commends TM One’s steadfast efforts in providing cybersecurity services that exemplify this implementation of best practices, which have benefited customers and communities tremendously.”

 

“On top of developing our own end-to-end solutions, TM One continues to strengthen its partnership ecosystem, collaborating with companies from various security domains to diversify its offerings and coverage. This includes FNS Value Co. Limited, the sole distributor of its Blockchain Secure Authentication solution in Malaysia, which helps secure digital transactions and online credentials, and Telefónica Tech – a global leader in cybersecurity, Cloud and IoT, as a partner in delivering Digital Risk Protection,” explained Shazurawati.

 

“Our efforts to expand our cybersecurity services and to provide customers with cutting-edge security reflect our commitment to tackling today’s growing cybersecurity concerns. With next-gen technologies such as 5G opening up both new opportunities and threats, TM One is poised as the enabler for organisations’ next advantage and security, today and tomorrow,” she concluded.

Unifi, a leader in converged home, mobile and lifestyle services via its digital content arm, Unifi TV, today announced three new premium channels via partnerships with leading content providers – beIN Asia Pacific; Moonbug Entertainment, a subsidiary of Candle Media; and Korea’s KC Global Media.

 

Starting February 2023, viewers will be able to enjoy these popular channels via their Unifi TV subscriptions: beIN SPORTS 2 – featuring top-tier European football, international tennis competitions and most recently, full Formula 1 coverage; Moonbug Kids – designed for families with pre-school children; and ONE – for fans of the latest Korean drama and entertainment.

 

Two of the three new channels, Moonbug Kids and ONE will also be available for free preview throughout the whole of February for both existing and new Unifi TV subscribers.

 

This brings Unifi TV’s channel offerings to a whopping 71 premium channels, along with 17 app partners including Disney+ Hotstar, Viu, WeTV and Lionsgate Play – the largest selection of streaming apps over a single platform.

 

Ho Hock Doong, Head of Content, Unifi TV said, “We are excited to partner beIN Asia Pacific, Moonbug Entertainment, and KC Global Media in bringing their popular channels to Unifi TV and to provide more quality offerings to our local audiences.

 

“At the end of 2022, Digital Market Insights projected that Malaysia’s Home Entertainment revenue was expected to reach an annual growth rate (CAGR 2022-2027) of 8.36%, with a projected market volume of US$48.57 million and 1.1 million active users by 2027.

 

“With these prospects in mind, we are strengthening our partnerships with leading global content providers to offer an inclusive selection of digital entertainment solutions – bringing Unifi’s ‘all-in-one’ value proposition to all audiences,” he added.  

 

beIN SPORTS 2 will join the line-up of three existing beIN SPORTS channels as well as the beIN SPORTS CONNECT app already available on Unifi TV, offering the widest live sports coverage from beIN SPORTS in Malaysia. In addition to the Formula 1 broadcast rights which will be extended to Unifi TV viewers, the channel will also include the Australian Open, ATP and the upcoming Roland-Garros.

 

Mike Kerr, Managing Director, beIN Asia Pacific, said, “As we continue to expand and strengthen our sports offering, we are excited to enter into the next phase of partnership with Unifi TV. Now with Formula 1, fans can immerse themselves in more live coverage than ever before on beIN SPORTS. We look forward to working alongside Unifi TV to grow our audiences in Malaysia.”

 

 

Putting families in the forefront, Moonbug Kids on Unifi TV will feature all of Moonbug’s IPs including CoComelon, Blippi, Gecko’s Garage, Morphle, Arpo, Little Baby Bum and recent acquisitions Little Angel and Oddbods – offering wholesome and quality entertainment for preschool and early-years viewers.

 

Unifi TV is also the first digital content platform in Malaysia to offer selected Moonbug Kids programmes on demand that are localised in Bahasa Melayu and Mandarin – bringing these edutainment programmes to more of Malaysia’s multi-lingual audiences.

 

“We are extremely excited to launch our Moonbug Kids channel on Unifi TV via their on-air and online platforms. We have had a strong start to 2023 in maintaining our strategy of rolling out our content and channels across APAC and EMEA and are now very much looking forward to sharing our beloved characters and stories with families across Malaysia,” said Nicolas Eglau, Managing Director EMEA & APAC, Moonbug Entertainment.

 

Leading K-entertainment channel, ONE, on the other hand, will bring the best of Korean entertainment to Malaysia. The channel will feature drama series Kokdu: Season of Deity within 24 hours of release in Korea and a line-up of romantic specials in February such as Weightlifting Fairy Kim Bok Joo and Backstreet Rookie. Fans of travel variety shows will also be treated to Dopojarak: Story of Homme the K-Wanderer, featuring personalities from K-pop, K-drama, fashion and sports.

 

George Chien, Co-Founder, President, and CEO of KC Global Media shared, “We are excited to enhance our partnership with Unifi TV to bring the best entertainment from around the world to every household and mobile device in Malaysia! With the addition of ONE channel on Unifi TV, fans can look forward to an endless stream of freshly curated programming direct from South Korea’s biggest broadcasters and studios.”

 

“These channels are quality additions to our platform and will strengthen our lifestyle offerings as part of Unifi’s Converged solutions for broadband, mobile and digital content. Our aim is to provide seamless customer experiences via extensive and affordable services that meet today’s digital demands, including online entertainment both at home and on-the-go,” Ho shared.

 

“As we kick off 2023, we aim to continue expanding our digital content, providing more customisable, value-for-money selections together with Unifi’s other converged solutions to bring something for everyone,” he concluded.

​Telekom Research & Development Sdn Bhd (TM R&D), the innovation arm of Telekom Malaysia Berhad (TM), recently signed a Memorandum of Understanding (MoU) with Al-Quds University (AQU) to foster industry-academia collaboration for joint research in Next Generation Communication Technologies and to create an institution for innovation and technology transfer.

Dr. Sharlene Thiagarajah, Chief Executive Officer, TM R&D, signed the MoU on behalf of TM R&D while AQU was represented by its President, Prof. Dr. Imad Abu Kishek. The agreement was sealed under the support and presence of H. E. Mr. Walid Abu Ali, Ambassador of The State of Palestine to Malaysia, Brunei, Thailand and Maldives.

Under the MoU, both entities will join forces to explore research and knowledge exchange activities including staff exchange for scientific works and student visits, in addition to development of impactful digital solutions with a global outlook.

Commenting on the latest collaboration, Dr. Sharlene said, “We are excited to have AQU on board as the first university that we’re collaborating with post COVID-19. This MoU is testament of our efforts to work with innovative and entrepreneurial academic institutions to deliver excellence in the field of research and innovation.”

“The knowledge sharing and technology transfer between Malaysia and Palestine will definitely boost research capabilities and cross-cultural innovations,” she added.

Meanwhile, Prof. Dr. Imad Abu Kishek shared, “The university’s strategy encompasses building strong cooperative relationships with the Malaysian industry and academia. We believe that this is the first step towards a sustainable partnership with TM R&D, which will provide our staff and students the opportunity to access expert knowledge, latest technologies, innovation labs, and industry in Malaysia.”

“We hope that this collaboration will result in a symbiotic relationship that furthers the economy, innovation, and technology transfer among both institutions,” added Prof. Dr. Imad.

AQU is an academic research university that currently offers more than 120 undergraduate and postgraduate programmes, delivered through its 15 degree-granting faculties that cover main scientific disciplines such as medicine, life and natural sciences, business and management, arts and humanities, law and jurisprudence, engineering, computer science, information technology, and social sciences.

In addition, AQU pursues educational distinction through a culture of innovation and strives to develop entrepreneurs who are able to partake in the development of the Palestinian economy.