Accubits and Boustead Berhad Sign MOU To Empower Businesses and Eliminate Wealth Distribution Inequality With Blockchain Technology

Dubai, United Arab Emirates – 13 January 2022 Accubits Technologies (Accubits) and Boustead Holdings Berhad (Boustead) today signed a memorandum of understanding to empower businesses to embrace blockchain innovations into the conventional industries and business processes, which at the same time encourages better wealth distribution amongst the population and commitment to ESG.

Boustead – one of Malaysia’s oldest and biggest conglomerates, plans to leverage on Accubits’ expertise in blockchain innovations to explore asset tokenization and green token for the Malaysia market.

Accubits hopes that the association with Boustead, would help the companies to expand further in the market by helping organizations embrace cutting-edge blockchain technologies, especially in the real estate and public sector industries. 

Boustead’s market leadership and expertise that are built over multiple decades combined with the expertise of Accubits Technologies in emerging technologies such as blockchain and Artificial Intelligence can help businesses and organizations to embrace emerging technologies to redefine the business processes and operations.


The MOU was signed by Dato’ Sri Mohammed Shazalli Ramly, Boustead Group Managing Director, and Shameer Thaha, Chief Strategy Officer of Accubits Technologies at Dubai, United Arab Emirates.

Dato’ Sri Mohammed Shazalli said that the MOU signifies Boustead Group’s renewed focus in its “Reinventing Boustead” strategy as well as BIJAU agenda which is the Group’s very own ESG commitment that drives all its business dealings and operations.

He added, “Our interest in blockchain technology sits well with our vision to reduce the economic gap, democratize the traditional way of life and help everyone, especially the unserved and underserved to own a piece of traditionally inaccessible wealth, made possible with this new monetary system. We are now in a good position to reassess our assets, through a different perspective, with this new instrument called blockchain and tokenization. The green tokens, backed by our future ventures in ESG initiatives such as algae oil, solar, and several others, will mark our footprint in promoting a greener future and promoting our aspiration towards supporting Malaysia’s net-zero carbon target by 2050.”

“Enabling the Changemakers tagline by Accubits perfectly summarizes our aspiration – The world is plagued with problems. When the whole world is stuck in the status quo, a few people break out of it. They question it. They go out of their way to solve the problems they see. And push humanity forward. The possibilities are endless and we hope to become the domestic champion in this space and help to reduce inequality distribution of wealth, and creating value together with Accubits,” he said. 

Shameer Thaha, Chief Strategist Officer of Accubits Technologies shared “We’re excited about this association with Boustead. With Boustead’s immense expertise that is built over centuries and Accubits’ expertise in emerging technologies, we hope to be a game-changer in the ASEAN markets, enabling organizations with future-proof software and solutions. Experience and expertise are two essential factors to bring a radical shift in embracing emerging technologies in this market, and that is why our association with Boustead is crucial and timely.”

About Boustead Holdings Berhad

Boustead Holdings Berhad (“Boustead”), one of Malaysia’s oldest conglomerates, is Lembaga Tabung Angkatan Tentera (“LTAT”)’s investment arm. The diversified Group comprises more than 90 subsidiaries, associate companies, and joint ventures, and has substantial interests in various sectors of the Malaysian economy.

Its operations are focused on five key areas namely plantation, heavy industries, property & industrial, trading, finance & investment, and pharmaceutical. Since its inception as a modest trading entity more than 190 years ago, the Boustead Group has grown by leaps and bounds. As of 31 December 2020, Boustead Holdings Berhad’s paid-up capital was RM2.7 billion while its shareholders’ funds stood at RM3.1 billion. Market capitalization is currently in the region of RM1.2 billion. For more information on Boustead, log on to