Principal Partners With TNG To Launch Malaysia’s First E-Wallet Investment Solution

Alex Cheong Pui Yin

16th March 2021 - 2 min read

Principal Asset Management Bhd has partnered with TNG Digital to launch its latest product, the Principal e-Cash Fund, in a bid to make investing more accessible to the public. The new fund is believed to be the industry’s first e-wallet investment solution in the country, and will be made available soon.

In a statement, the chief executive officer of Principal Asset Management, Munirah Khairuddin said that the long-term partnership with TNG Digital – which owns and operates Touch ‘n Go eWallet – is set to accelerate the development of e-wallet investment solutions for Malaysians. “Addressing the needs of Malaysians irrespective of their financial background, every Malaysian can now start to invest and inculcate the habit of investing, saving, and spending,” she added.

Munirah also said that Principal is committed to building holistic solutions that can help Malaysians “save enough, have enough, and protect enough to achieve their long-term financial goals.” Additionally, the company will also strive to unlock the full potential of digital solutions in addressing their consumers’ needs.

Prior to this partnership with TNG Digital, Principal Asset Management had also introduced selected funds through the Employees Provident Fund’s (EPF) self-service online investment platform, i-Invest. In short, i-Invest allows eligible EPF members to draw from their Akaun 1 savings and invest the money in various approved funds for their retirement needs.

Meanwhile, Touch ‘n Go e-Wallet had obtained conditional approval from the Securities Commission to operate as a recognised market operator earlier this year, becoming the first e-wallet to do so. This means it is now able to directly distribute investment products, such as unit trusts, on its platform.

(Source: The Edge Markets)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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