07/02/2024 (Malaysia) - Malaysia Venture Capital Management Berhad (MAVCAP) announced the appointment of Ter Leong Yap as its new Chairman, effective December 15, 2023. Ter Leong Yap, who brought a wealth of experience from his roles as the Founder and Executive Chairman of Sunsuria Group, as well as his honorary positions within various chambers of commerce, was welcomed by MAVCAP. His international experience and leadership in diverse industries were expected to bring valuable insights and direction to MAVCAP.
MAVCAP, in their statement, highlighted Ter's extensive background in entrepreneurship and governance across several sectors, including property development and healthcare. His leadership had previously led to numerous accolades and recognitions, demonstrating his ability to steer companies towards success and innovation.
Under Ter's guidance, MAVCAP was set to focus on enhancing the venture capital ecosystem in Malaysia, aiming at the development of local talent, the establishment of venture capital firms, and attracting international investments. Shahril Anas Hasan Aziz, CEO of MAVCAP, expressed optimism about Ter's leadership in achieving the organization's strategic goals and fostering growth within the Malaysian technology sector.
Ter's career was marked by significant achievements, receiving various awards for his entrepreneurial success and contributing to the recognition of Malaysian companies on international platforms. His role at MAVCAP was anticipated to catalyze innovation and elevate the venture capital landscape in Malaysia to new heights.
As MAVCAP embarked on this new chapter with Ter at the helm, the venture capital firm, backed by the Malaysian government and with a portfolio value nearing MYR 1 billion, was poised to play a pivotal role in the national strategy for technological and entrepreneurial advancement. This move was seen as a step towards enhancing Malaysia's position in the global venture capital market, leveraging Ter's vast experience and MAVCAP's established foundation.