Leading Shariah Compliant VC Fund, Ficus Capital Invests
RM2 million in Eclimo, a Malaysia-owned Electric (EV) company

December 8, 2021

Investment by the world’s first shariah compliant fund will assist in Malaysia’s drive towards sustainable energy

[From left to right] Abdullah Hidayat, Executive Director of Ficus Capital; Nor'Azamin Salleh, Chairman of Ficus Capital; Dato' Dennis Chuah, Founder of Eclimo; David Chuah, General Manager of Eclimo Solutions; Rina Neoh, Managing Director of Ficus Capital; and Asyrul Ramali, Chief Executive Officer of Ficus Capital.

KUALA LUMPUR, December 8, 2021 – Leading Shariah Compliant VC Fund, Ficus Capital today announced that it has invested RM2 million in Eclimo Sdn Bhd, a Malaysia-owned Electric (EV) company. Founded in 2008, Eclimo aims to champion Malaysia’s contributions towards sustainable energy and unveil the wonder of the exciting global revolution of electric vehicles.

The founder of Eclimo Sdn Bhd, Dato’ Dennis Chuah comments, “The best way to achieve business success today is to unleash the power of collaboration and partnership. To do great things, you must connect with people who can do greater things. I’m very proud about Eclimo’s recent partnership with Ficus Capital and our plan to enter the regional market. I am glad we found a strategic and value added investor who understands our vision and is a proponent of sustainable investment”.

Initially embarking on green technology research and development, Eclimo soon focused its efforts on productization of sustainable energy, building its way towards manufacturing electric motorcycles (ES11 and EB25) and Lithium Ion battery packs (Eclimo Power) and modules. Built on a solid foundation of engineering expertise and proprietary technology, Eclimo holds in its name, patents for non spot-welding battery pack technology and its direct-drive electric motor, both of which have been successfully commercialised.

 

Ficus Capital was founded by a group of experienced investors with a deep passion for technology, growth and building long-lasting companies. Rina Neoh, Managing Director of Ficus Capital added, “Ficus Capital is proud of our investment and partnership with Eclimo. Securing the sustainability of the planet seems like a herculean task but nothing beats the power of collaboration. Individually, we are strong but collectively we are awesome! At Ficus, we believe that everything is possible and we will do our part to champion Malaysia’s drive towards sustainable energy. That is a promise!”

 

About Eclimo Sdn Bhd

Eclimo Sdn Bhd is a 100% Malaysian-owned EV company, founded in June 2008 to champion our nation’s contributions towards sustainable energy, and unveiling the wonder of the exciting global revolution of electric vehicles. Initially embarking on green technology research and development, Eclimo soon focused its efforts on productization of sustainable energy, building its way towards manufacturing electric motorcycles (ES11 and EB25) and Lithium Ion battery packs (Eclimo Power) and modules. Built on a solid foundation of engineering expertise and proprietary technology, Eclimo holds in its name, patents for non-spot-welding battery pack technology and its direct-drive electric motor, both of which have been successfully commercialized. Eclimo’s Corporate & Business Centre is in Tanjung Tokong, Penang, Malaysia. Further information on Eclimo Sdn Bhd can be found at our website www.eclimo.com

 

About Ficus Capital

Ficus Capital is the First Shariah Compliant Regional Venture Capital Management Company in the world.  Its flagship fund, Ficus SEA, is the first Malaysian-based Shariah compliant venture capital fund with a focus on investment in the ASEAN region. Ficus’s focus is on investing in promising early-stage tech start-ups with growth potential. The firm focuses on Southeast Asia and have invested deeply across Malaysia, Indonesia, Vietnam, Singapore, Thailand, and the Philippines. Our organising principle is the alignment of interests and of values. We build strong relationships with our long-term investors and each other. We are invested in each other’s success as we pursue superior investment returns. Our website address is www.ficus.vc

 

 

 

End of this Corporate Announcement.

For more information, please contact Syairah Baharuddin,

Community Manager of Ficus Capital: syairah@ficus.vc

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