From google finding

Business fit: KeyASIC is an actual ASIC/SoC design house — it offers IC design services such as register transfer level (RTL) and production,  and its core competency is designing SoC and ASIC from system specification and architectural level to GDSII.  That’s exactly the kind of front-end chip design work Silicon Vision’s Arm tokens are meant for, unlike 3REN’s automation/test-and-assembly services.

Where it likely qualifies (AFA – Entry token): Malaysia-incorporated since 2005, with a genuine track record of completed IC design projects and IP/SoC design — this satisfies the “Company Technology Background” and “successfully completed IC Design projects” criteria fairly comfortably.

Where it likely struggles (CSS token): CSS requires proven design experience at advanced nodes (16nm, 7nm, 5nm, 3nm and below) — KeyASIC’s manufactured SoCs have been in Silterra 0.18um, 0.16um and 0.13um process technologies,  which are legacy/mature nodes, not advanced. CSS also wants 20+ dedicated Arm-architecture design engineers and positive cash flow with a clean going-concern audit opinion — KeyASIC has around 41 employees total, and its FY2025 revenue fell 34.8% to RM14.95 million with a loss of RM6.79 million,  so both the headcount scale and the financial-viability bar for CSS look shaky.

Bottom line: KeyASIC looks like a plausible AFA (especially Entry AFA) applicant given its genuine IC design pedigree, but CSS eligibility is questionable on advanced-node track record, team size, and financial health.