ESports Giant Invests in Malaysia

Dubai-based eSports organisation Galaxy Racer (GXR) announced, on 13 January, a projected investment of US$10 million (or RM42 million) into the Malaysian eSports scene over the next five years. 

GXR is one of the participating companies in the Malaysia Digital Economy Week, which was launched on January 12th 2021, at the Expo 2020 Dubai by YB Tan Sri Datuk Seri Panglima TPr Haji Annuar bin Musa, Minister of Communications and Multimedia Malaysia.

GXR's investment was formalised after they signed a Memorandum of Understanding at the Expo 2020 Dubai, witnessed by YB Tan Sri Datuk Seri Panglima TPr Haji Annuar bin Musa, Minister of Communications and Multimedia Malaysia and Mahadhir Aziz, CEO of MDEC.

GXR said in a press release that its investment will be used to plan and organise more eSports events and tournaments in Malaysia "to facilitate and boost the country’s eSports ecosystem". 

GXR will be launching its Asia Pacific headquarters in Malaysia in 2022 and is looking to turn the country into its digital hub in the region. It is also looking to create more highly-skilled jobs and opportunities for Malaysians.

“We are excited to establish our APAC headquarters in Malaysia and we appreciate the support by MDEC and KKMM," said Paul Roy, founder and CEO of GXR. 

“As part of our mission to drive the digital economy with high-impact initiatives, MDEC is committed to growing the eSports industry in Malaysia and together with industry leaders such as Galaxy Racer, I am sure we will be able to elevate the industry to greater heights,” added Mahadhir. 

GXR’s investment will greatly contribute to the Malaysian eSports industry. It believes that MDEC would also be the catalyst for the nation’s Fourth Industrial Revolution (IR 4.0).