Smart Rental Wins ASEAN Innovation Excellence Award at ASEAN Sarawak Business & Economic Forum 2026

Recognition presented at a high-level regional forum convened under the theme "From Strategy to Scale: Competing in a Fragmented Global Economy," bringing together policymakers, investors, and business leaders from across ASEAN

KUCHING, Sarawak, Malaysia – 12 February 2026 — SmartRental has been conferred the ASEAN Innovation Excellence Award at the ASEAN Sarawak Business & Economic Forum 2026 ("ASBEF 2026"), held at the Hilton Hotel, Kuching. The recognition highlights SmartRental's Hardware-as-a-Service (HaaS) model as a standout example of financial innovation addressing one of the region's most pressing economic challenges: access to capital in an increasingly constrained global financing environment.

A Forum Convened at a Pivotal Moment for ASEAN

ASBEF 2026 was convened under the theme "From Strategy to Scale: Competing in a Fragmented Global Economy," marking a deliberate shift in regional priorities as ASEAN enters a more constrained, volatile, and contested global environment. The forum took place at the outset of Sarawak's 13th Malaysia Plan period, a phase in which emphasis has moved decisively from policy design toward execution, delivery, and measurable outcomes.

The forum was grounded in the recognition that the conditions which underpinned ASEAN's growth over the past two decades have fundamentally changed — globalisation is fragmenting under geopolitical pressure, capital has become more expensive and selective, technology access is increasingly shaped by strategic controls, and climate policy is now enforced through trade rules and market mechanisms rather than voluntary commitments. At the same time, rapid advances in artificial intelligence, data centres, and advanced manufacturing are driving a sharp increase in electricity demand, placing energy availability, grid reliability, and financing discipline at the core of regional economic competitiveness.

Structured around these realities, the forum's programme focused on scaling the energy transition under real constraints, advancing industrial policy in the age of AI and strategic supply chains, financing development in a capital-scarce environment, and managing climate policy as a determinant of market access and competitiveness — with each plenary session designed to confront trade-offs, execution risks, and credibility gaps rather than reaffirm long-term aspirations. In his address at the forum's welcoming ceremony, ASEAN Business Club chairman Tan Sri Michael Yeoh — who is also affiliated with the KSI Strategic Institute for Asia Pacific Malaysia — praised Sarawak's leadership as among the most dynamic and forward-looking in the region.

Contributing to the Conversation on Capital Scarcity and Development Finance

Against this backdrop, SmartRental was invited to serve as a panel speaker for the session on "Capital Scarcity and Development Finance," contributing perspective from the ground level of enterprise technology adoption. In an environment where capital is no longer cheap or abundant, SmartRental's Hardware-as-a-Service model was presented as a practical mechanism for helping businesses remain resilient without overextending their balance sheets.

The core proposition centres on shifting enterprise technology spending from capital expenditure (CAPEX) to a flexible, subscription-based operating expenditure (OPEX) model — enabling businesses to preserve cash flow, avoid large upfront capital commitments, and still gain access to current-generation technology. In a forum explicitly focused on the mechanics of financing growth amid tightening capital conditions, this model was positioned as directly relevant to the structural challenges facing ASEAN businesses, particularly small and medium enterprises navigating a more selective lending and investment landscape.

Recognition Within a Broader Regional Push

The ASEAN Innovation Excellence Award reflects the forum organisers' broader intent to recognise solutions that meaningfully address the structural challenges outlined in ASBEF 2026's agenda — namely, how businesses and economies can scale and remain competitive despite fragmented global conditions and constrained access to capital. Receiving this recognition in the context of a forum populated by policymakers, regional business leaders, and development finance practitioners lends the award a level of substantive relevance beyond a conventional industry accolade.

As a forum organised by the KSI Strategic Institute for Asia Pacific, ASBEF 2026 drew participation from a range of strategic partners engaged in high-level discussions alongside policymakers and global investors navigating the complexities of the modern economic landscape. Being recognised within this setting reflects favourably on SmartRental's positioning as a company whose core business model speaks directly to the region's current economic priorities.

Appreciation and Forward Outlook

This recognition is regarded as a shared achievement, reflecting the collective effort of the SmartRental team, its partners, and the clients whose continued trust underpins the business. Sincere appreciation is extended to the KSI Strategic Institute for Asia Pacific for convening a forum of this calibre and impact, and for the platform it provided to engage directly with regional policymakers and investors on the future of development finance.

Looking ahead, SmartRental remains committed to advancing its Hardware-as-a-Service model as a practical contribution to digital transformation and sustainable growth across the region, in line with the broader themes of resilience, execution, and scale that defined this year's forum.