Singapore-based multi-family office and digital consulting group Golden Equator has announced its expansion into Brunei.

This follows the group’s US$18.3 million strategic investment in April 2019 from serial entrepreneur-investor Taizo Son and investors from the Asia Pacific, the Middle East and Brunei.

The group behind Golden Equator Consulting (GECo) plans to create a stronger connection between Brunei and the region via Singapore to build up its investment and entrepreneurship capabilities.

The expansion will see three of the group’s businesses established — Golden Equator Wealth (GEW), Golden Equator Consulting (GECo), and SPECTRUM – in Brunei.

The group has also appointed Aziemah Abdullah as Country Head, who will lead its in-market expansion activities in Brunei. She was most recently with the Royal Brunei Technical Services (RBTS), leading its business development and expansion initiatives.

Also Read: Golden Equator Group of Singapore raises US$18M led by Taizo Son

GECo, the Golden Equator’s digitally-focussed business consulting arm, has been working with Brunei’s national SME agency, Darussalam Enterprise (DARe), since 2018. The partnership seeks to facilitate the learning boot camps that help equip Bruneian startups with the core business skill sets while providing them with access to networks and international exposure.

To date, GECo has completed a total of three boot camps (Accelerate) and microbusiness boot camps (The Micro Bootcamp) in Brunei and has stated that it will conduct seven more in the next two years.

The learning boot camps have guided more than 200 startups, raised more US$1 million in investments, and helped provide employment to approximately 500 people in Brunei.

GECo also claimed that it has facilitated several partnerships for Singapore and Brunei startups that led to the expansion of their different businesses, including Vault Dragon with BloodKad and Glints with Grominda. Consequently, Vault Dragon has expanded into Brunei. Together with BloodKad, the firm is in discussions with the government for a potential national initiative.

With GECo’s establishment in Brunei, it is also looking to work with more private companies in 2020 to offer its digital transformation solutions.

Also Read: Singapore-based GECo to run Brunei accelerator program

SPECTRUM, a community-focused workspace and a subsidiary of Golden Equator, is currently in discussions with Brunei’s government agencies to potentially set up a workspace that drives community-building and collaborations.

The SPECTRUM expansion also aims to draw more entrepreneurs from Borneo into Brunei, allowing startups to be part of a regional innovation ecosystem that will provide access to a wider network of investors and partners, regional market exposure, and collaboration opportunities for growth.

SPECTRUM was launched in 2018 and has recently signed partnerships with similar workspaces in Indonesia, Vietnam, Malaysia, Japan, and Korea. Besides the Brunei government agencies, SPECTRUM is currently also in discussions with potential partners in Dubai and Korea to set up a presence in these countries.

Abdullah said: “There are many aspects of the group’s businesses that will benefit Brunei’s ultra-high-net-worth (UHNW) families, private and public companies, and startups. More importantly, I am excited to leverage the strength of the group to contribute to the financial knowledge development, growth of Brunei’s startup ecosystem, and help companies be future-ready through the adoption of technology.”

“Our expansion into Brunei marks our commitment to the development of Brunei’s startup ecosystem and is an example of ecosystem-building in the region via Singapore. This means we will be able to continue using Singapore as a base to build other nodes in the region, connecting the different markets to build an even stronger business environment,” said Shirley Crystal Chua, Founder, and CEO of Golden Equator Group.

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Picture Credit: Golden Equator Group

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