Image Credit: Shutterstock
Malaysian crypto investor Jeff Yew is considering launching a separate technology campus at Forest City, the troubled $100 billion development in southern Malaysia. The plan could bring a new technology project to the site previously occupied by Balaji Srinivasan’s Network School, which Malaysian authorities ordered to close in July.
Yew, the former head of Binance Australia and current head of Monochrome Asset Management, has entered preliminary discussions with Srinivasan and his team, according to Bloomberg News. The proposal remains at an early stage, with no final agreement announced.
Yew Proposes Malaysia-Focused Technology Campus
Yew’s proposed campus would focus on artificial intelligence, blockchain, and computer science while combining international recruitment with support for Malaysian entrepreneurs. He has also raised the possibility of scholarship programs for local participants. Yew said,
“It’s about a balance of attracting talent overseas and also nurturing local entrepreneurs.”
Yew said the wider goal would be to help make Johor a digital hub for global technology businesses. He also said any new project would need to operate around Malaysian interests and respect local authorities.
Network School Closure Leaves Campus Available
Srinivasan, a former Coinbase chief technology officer, established Network School at Forest City as a live-in community for entrepreneurs and technology workers. Malaysian authorities closed the campus after a wider investigation identified two violations of local licensing requirements, although immigration officials said people checked at the school had valid travel documents.
Srinivasan subsequently announced plans to move the project to Kazakhstan. Yew offered to take over the Malaysian operation shortly after the closure and has since discussed the possibility with Srinivasan’s team.
Forest City Seeks New Technology Investment
Forest City is a development backed by Chinese property group Country Garden and a Malaysian partner. The Malaysian government designated the area a special financial zone and introduced incentives aimed at family offices, fintech companies and foreign payment businesses.
The development has struggled to attract the population and business activity originally envisioned for it. Yew’s proposal remains preliminary, but a new technology campus would add another effort to attract entrepreneurs and digital businesses to Forest City.
