Mary Blight – Page 10

Cyberview ignites creative innovation with CIRc8

On: October 14, 2024

evidence a letter of intent with TODAK Holdings and an MOU with Animonsta Studios &amp.
Aims to foster&nbsp, stronger engagement to benefit the online innovative business

The Cyberjaya Digital Creative Circuit ( CIRc8 ) 2024, a synthesis of digital creativity and technological innovation, has been announced by Cyberview Sdn Bhd. More than just an occasion, CIRc8 serves as a platform where suggestions meet imagination, all within the fluid ecosystem of Cyberjaya.

As the technology hub designer, Cyberview emphasises that it is in a special place, very unlike other designers. A key goal of the business is to create a tech ecosystem that benefits all-size technology firms, enabling the Cyberjaya group to prosper as a whole.

Cyberjaya has recently seen an influx of data center investments, which has helped and established the very core of the modern business in the metropolis. As the desired technology investment location for Malaysia, Cyberjaya has seen an influx of data center investments. As the industry expands and makes use of cutting-edge technologies like conceptual AI, Cyberjaya’s online creative players gain advantage.

Kamarul Ariffin Abdul Samad, CEO of Cyberview, said,” Although we welcome high-value technology Investment, we are cognisant of the important role local technology firms play in building Malaysia’s modern economy in the long run. We are particularly pleased of our local software companies, particularly those in the creative market”.

He added,” We see the demand for digital innovative products and services is on the increase, both locally and internationally, therefore opening access to new markets and new parts for products and services”. Kamarul also emphasized that Cyberview’s assistance for this business is a long-term commitment, as demonstrated by the establishment of the modern innovative tech cluster within the Cyberjaya masterplan, which was launched in 2019.

Cyberjaya is home to some of Malaysia’s popular online artistic talents, with video studios like Monsta Studios, WAU Animation, and Durioo gaining international reputation. I’m convinced that there will soon be a domestic fairy called Cyberjaya. Therefore, he emphasized that Cyberview is doing everything we can to help businesses through numerous business help programs like the one we introduced today.

CIRc8 2024 was launched by Teo Nie Ching, assistant secretary of Communications, who likewise witnessed two report markets. The first was a Memorandum of Understanding between TODAK Holdings Sdn Bhd and Cyberview Sdn Bhd, and the next was a Letter of Intent between the two.

Both exchanges demonstrate the strengthening of the relationship between the parties involved, aiming to foster a more effective and important collaboration for the online creative sector.

With an estimated crowd of more than 1, 500 people, consisting of key players from the animation and e-sports industry, talent, and the community, visitors were entertained for two days with a mini game arcade, an immersive virtual art exhibition by Akademi Seni Budaya dan Warisan Kebangsaan ( ASWARA ), and meet-the-fans sessions with popular local animation characters.

Other hobbies included industry changes and a panel discussion titled” The Future of Digital Creativity – Navigating Innovation and Human Touch.” The board featured Shafinaz Salim, head of Technology Hub Development at Cyberview, Nicholas Sagau, chief operating officer of RevMedia Group and vice president of the Malaysia Digital Association, and Dr. Jazmi Jamal, chairman of Future Creative School at ASWARA.

Malaysia Digital status companies delivering synergy and growth through AI

By: Mary Blight

On: October 11, 2024

In: Technology

MD companies, DataMicron, Tapway, PIXLR Group leading the way in AI imports
MDEC is working with various authorities to promote AI development.

Launch of the Artificial Intelligence Governance and Ethics guidelines by Ministry of Science, Technology & Innovation (MOSTI) with, 2nd from left, Chang Lih Kang, Mosti Minister; Fadillah Yusof (3rd left), Deputy Prime Minister and Gobind Singh Deo (2nd right), Minister of Digital.

Artificial intelligence ( AI ) seems to be at the top of the recent discussion topic list, with various parties humming its benefits as a game changer for almost every industry, from banking to manufacturing, and more. While some naysayers had labeled it as another term, it is actually more prevalent in Malaysia as a result of how AI affects how we work, live, and sing than we initially believed.

AI has become a vital driver for a number of development sectors, starting with the development of 5G infrastructure to support rapid growth and to knowledge, where expertise and skill are increasingly needed.

The Malaysian government has encouraged the development of AI in Malaysia through the National Artificial Intelligence Roadmap ( 2022 ) and the recently released AIGE guidelines, which acknowledge the transformative potential of AI.

Numerous tech entrepreneurs have made the decision to enter the field of AI, creating solutions and services that span a range of industries, from logistics management to modern creative. Discovering how as a society can develop with AI to produce newer and more powerful offerings to industry seems to be endless.

Three Malaysian Digital ( MD) status companies that are actively participating in the Malaysia Digital Economy Corporation’s ( MDEC ) Digital Exports program provide a look at the diverse uses of AI.

Gobind together with Jimmy Ting, CEO of DataMicron at the Malaysia Digital Tech Adoption Summit: Artiﬁcial Intelligence.

AI for important determination making

By providing critical cloud-based options to large corporations in Malaysia, DataMicron has established itself as a important leader in amazing analytics platforms. They collaborate with a number of well-known and internationally recognized manufacturing firms with a sizable center in the nation.
By incorporating AI into their service, their options not only maintain high consistency but also enable lightning-fast Big Data analytics. This gives businesses better information about supply chain management and budget reduction, and it may also act as a strategic warning to businesses to increase their overall production efficiency.

The business understood that using more accurate data and Internet of Things ( IOT ) as a key innovation tool would enable its clients to grow and expand. Decision makers have benefited from DataMicron’s assistance in maximizing opportunities and creating proactive strategies to protect them from risks, such as possible failures and another supply chain disruptions.

Better perception with AI in film systems

In addition to improving safety and general computerized safety functions, several businesses in Malaysia have benefited from combining AI with physical technology and IOT. A difference between the physical and digital earth was discovered by Tapway, a top AI solutions provider in the area, and was bridged by the use of AI and IOT combined.

The company launched its VisionTrack lately, a program that automates value checks and uses Samurai, a vision Iot option for businesses. Here, AI provides tracking during the manufacturing process to ensure that their clients ‘ equipment lines are operating correctly and correctly, as well as ensuring health around manufacturing facilities.

Additionally, Tapway has just been appointed as the seller for all of Malaysia’s burden plazas, helping to keep track of traffic and provide efficiency reports for road transportation. Their combined use of AI and collected data in this case improves road users ‘ total efficiency and provides crucial information to the burdens management company.

The business keeps making investments in new AI plugins, extending its portfolio of AI visible technologies to include a wide range of industries and applications. They believe more businesses in Malaysia should look into AI to improve their overall service delivery and that they want to continue to be a companion for local business development.

Innovative and AI – providing motivation

The Pixlr Group is embracing AI as a part of its collection of options for artists, designers, and marketeers, and continues to make leaps in the market. The business was founded as INMAGINE with the aim of democratizing creative material and encouraging designers around the world.

Important goals include the development of 123RF, one of the world’s largest electronic stock picture libraries. The company’s recognition of the potential impact of AI on the way artists and designers approach visual design appeared to be normal. Pixlr then began its development into AI-driven innovative tools and aimed to establish an AI lover for artists and marketers by enhancing the design, management, and distribution of digital assets.

Warren Leow (2nd from right), CEO of Pixlr sharing his thoughts on an AI panel at the recent PJ Startup Festival 2024.

AI has transformed the way digital assets are created, managed, and distributed by automated methods and enhancing imagination. This has resulted in synergies within the creative ecology because it enables users to produce higher-quality information more quickly and effectively, leading to innovation across a variety of industries.

AI to alter the country

It is obvious that AI is still around and will continue to be a valuable resource that will aid people, businesses, and the economy’s growth. While some people have reservations about the technology, MDEC is prepared to support it by working with the various authorities to continue to build a friendly network made up of technical talent, infrastructure, and partnership to help.

While some dread AI and its controversies, MDEC, the world’s lead company in modern transformation, is positive in the beneﬁts it brings to the nation. It automates the lower-income jobs and encourages Malaysians to seek high-income jobs, creating more skilled workers and enabling its goal of being a high-income country before 2030. Local businesses will be able to participate in this AI journey with continued support from initiatives like the MD Founder’s Centre of Excellence ( FOX ).

For Malaysian electronic standing companies, MDEC offers a variety of programs. Apply for the position of Malaysia Digital around.

watchTowr raises US mil to redefine External Attack Surface Management

watchTowr raises US$19 mil to redefine External Attack Surface Management

By: Mary Blight

On: October 11, 2024

In: Technology

Total funding for the most recent investment is$ 29 million.
Funds will be used to get business management, accelerate global development

watchTowr raises US$19 mil to redefine External Attack Surface Management

watchTowr, the cybersecurity startup redefining External Attack Surface Management, has announced a US$ 19 million ( RM81 million ) Series A funding round led by Peak XV, formerly known as Sequoia India &amp, Southeast Asia, with repeat participation from Prosus Ventures and Cercano Management. In a statement, the firm said it would use the money to get business management and accelerate global development by expanding its go-to-market, study, and engineering teams. This latest investment brings its total funding to US$ 29 million ( RM124 million ).

WatchTower reports that Fortune 500 companies and critical equipment companies have embraced it over the past year as major recipients of its security measures.

It stated that as AI develops, the number and frequency of achievements that are affecting big firms is rapidly growing. Animal experts and conventional security products cannot be used to combat the rapidity of these attacks. WatchTowr, which was created by unpleasant security experts, recreates the ingenuity and resilience of attackers, enabling organizations to respond quickly to new techniques and threats. The company’s app even constructs a real-time assailant’s view of an organisation, constantly identifying and validating accessible vulnerabilities before attacks occur.

watchTowr was founded by hacker-turned-entrepreneur Benjamin Harris ( pic ). Harris, who hacked into his university system at the age of 16, has established a remarkable reputation in the cybersecurity sector over the past 14 years. Since therefore, he has helped businesses all over the world improve their security methods and defenses.

” If there’s a way to bargain your company, watchTowr may get it”, said Harris, CEO and Founder of watchTowr. ” In the last 12 months, our projections have been realised. Intruders have become faster at weaponising emerging threats, more violent at leveraging weaknesses to sacrifice organisations blindly, and occasion to abuse in the wild is then measured in single-digit hours. We strongly believe that security team can use one of the most potent skills to quickly respond to these threats.

Backed by the company’s study, the watchTowr System is the fastest to utilize the latest vulnerabilities, tactics, and techniques used by powerful adversaries, enabling organisations to check their defences. watchTowr Laboratories, the agency’s danger and risk R&amp, D shoulder, has become internationally renowned. It recently demonstrated how significant amounts of Internet infrastructure have been compromised, and in February 2024, it was the first to use Ivanti’s Connect Secure VPN product ( CVE-2024-22024 ) to investigate and reproduce vulnerabilities that APT groups have used to compromise western government entities. WatchTower has consistently been the first to analyze many of the most serious risks in 2024.

In addition to the money, the firm announced the appointment of Chris Merritt, past Cloudflare president of Field Operations &amp, general income officer, to its board of directors to link watchTowr’s global growth. Merritt spent over ten years at Cloudflare, helping the company scale to over US$ 1 billion ( RM4.2 billion ) in annual recurring revenue. He currently runs Peak XV as an operating partner.

“watchTowr has an incredible team, technology, and opportunity”, said Merritt. ” They’re solving a major challenge for global organisations by enabling them to view their systems like trained adversaries, validate weaknesses, and help stop breaches—at scale. WatchTowr is seeing a lot of interest, and we look forward to helping Harris and the rest of the team become the next cybersecurity market leader.

Singapore’s Ignition AI Accelerator partners Pfizer to advance biopharma sector with AI

By: Mary Blight

On: October 9, 2024

In: Technology

Aims to improve AI capabilities, grow software across industries
Partnership aims to speed up medicine finding & industry solutions faster

Singapore’s Ignition AI Accelerator partners Pfizer to advance biopharma sector with AI

Fire AI Accelerator, a collaborative effort between NVIDIA, Tribe, and Digital Industry Singapore ( DISG) has announced a collaboration with international biotech head Pfizer in Emerging Markets Asia.

In a statement, the Singapore-backed Fire AI Accelerator explained that its goal is to advance AI skills and develop software across industries, driving global business development. The association with Pfizer aims to utilize its extensive community in Southeast Asia, including media, state, universities, accelerators, technical skill, and investors, to expand drug discovery and research processes, bringing innovative treatments to promote more quickly.

The Singapore government has been actively advancing border technologies like AI to support its medical technology and medical ecosystems and improve care quality. In addition to fostering private-public sector partnerships, it has invested over US$ 19 billion ( RM81 billion ) in science and technology research under its Research, Innovation and Enterprise 2025 plan. Through its engagement with DISG, Ignition AI Accelerator aims to attract major international AI companies to Singapore, building a thriving ecosystem for border systems. The throttle also empowers businesses to expand regionally, scaling their companies and accelerating their go-to-market techniques.

The partnership with Pfizer positions Fire AI Accelerator at the vanguard of AI creativity, providing local ecology partners and medical startups with the size and experience of industry giants. Through these collaborations, especially in the healthcare industry, Ignition AI Accelerator is better equipped to drive the development of pioneering therapies, patient treatment, and precision treatments worldwide.

” We are excited to collaborate with Pfizer, one of the leading players in the biopharmaceutical industry,” said Ng Yi Ming, CEO of Tribe. ” Our goal is to empower pharmaceutical giants with the latest advancements in AI to drive innovation in drug discovery and development. This partnership underscores our commitment to accelerating breakthroughs that can significantly impact lives globally. “

Pfizer is at the forefront of leveraging AI to transform drug discovery and development. By integrating into the Ignition AI network, Pfizer aims to create faster, more effective communication with stakeholders, enable a more efficient patient recruitment system, and improve manufacturing yields and cycle times.

” AI is reshaping pharmaceutical research, and our partnership with the Ignition AI Accelerator by Nvidia and Tribe is a significant step towards harnessing these technologies to enhance our communications with patients and healthcare professionals,” said Bei Goh, Regional Client Partner lead, Emerging Asia at Pfizer. ” With access to a thriving startup ecosystem, we are eager to catalyse groundbreaking biomedical startups and accelerate innovations in stakeholder engagement within the industry. “

Cisco announces collaborations to boost AI ecosystem in Malaysia, unpacks AI strategy for businesses

By: Mary Blight

On: October 8, 2024

In: Technology

Developed partnerships with TM and PNB to advance AI technology
collaborated with MDEC and UTM to close the gap in Malaysian AI knowledge.

Cisco announces collaborations to boost AI ecosystem in Malaysia, unpacks AI strategy for businesses

At its annual AI Day celebration, Cisco, a worldwide innovator in networking and security, formalized three cooperation aimed at fostering AI-led development in Malaysia. An AI hackathon to bridge the gap between AI skills and give students valuable hands-on experience was announced by the company in conjunction with the Malaysia Digital Economy Corporation ( MDEC ) and Universiti Teknologi Malaysia ( UTM). Also, it outlined its strategy to enable Indonesian businesses to leverage AI for unlocking fresh company opportunities.

AI has the potential to deliver a US$ 115 billion ( RM493 billion ) boost to Malaysia’s gross domestic product. While it creates new prospects, it also introduces safety risks and risk vector that must be addressed. At Cisco AI Day, the business presented a comprehensive plan to assist Indonesian businesses in addressing these issues by integrating AI across its full portfolio and establishing a trusted infrastructure to support and safe AI workloads.

Cisco announces collaborations to boost AI ecosystem in Malaysia, unpacks AI strategy for businesses Fabian Bigar ( pic ), &nbsp, secretary general of the Ministry of Digital, Malaysia, delivered a speech at the event on the importance of AI in driving Malaysia’s digital economy. He stated,” The potential for AI to enhance performance, optimize operations, and uncover innovative strategies for growth is tremendous. It gives Malaysia the opportunity to increase its standing in the world while promoting equitable growth for all people. By embracing AI, we may address pressing issues, modernise important sectors, and secure long-term prosperity”.

Additionally, Cisco announced two collaboration agreements as part of its Country Digital Acceleration ( CDA ) initiative in Malaysia. CDA is Cisco’s co-investment and co-innovation system that operates in 50 locations worldwide. Cisco uses CDA to promote social participation and economic resilience by recognizing the value of digitization.

The first project will be a collaboration with Telekom Malaysia ( TM) to assist JDN in updating its modern infrastructure. TM will create a safe, efficient system for JDN’s Putrajaya school, enhancing community performance, reliability, and capacity to support bandwidth-intensive applications, quite as AI and machine learning technologies. To facilitate smooth and stable individual workstation experiences, Cisco does offer AI-enabled collaboration tools, including Cisco Spaces and Webex Boards. Employees will be able to manage the business effectively with the aid of AI-powered 3D maps and real-time insights into room accessibility and occupancy trends, which will help JDN optimize its space usage.

In collaboration with Permodalan Nasional Berhad ( PNB), Cisco will equip PNB’s innovation lab, network operations centre, and open collaboration areas with AI-powered networking, IoT, collaboration, and security solutions as it transitions to a new office. The technology facility, featuring Cisco’s Webex, Meraki devices, and ThousandEyes, may help PNB to analyze and create sustainable work technologies. Cisco ThousandEyes ‘ AI-driven intelligence in the Network Operations Centre will enhance PNB’s ability to detect, diagnose, and remediate disruptions impacting user experience. Cisco Webex Boards will facilitate inclusive work experiences with AI-enhanced video, audio, and other capabilities. Additionally, PNB will make use of Cisco Spaces to improve employee productivity.

Cisco has a role to play in every step of the AI revolution,” said Hana Raja ( pic ), Managing Director for Cisco Malaysia”. Our unique ability to combine network power with individuality Cisco announces collaborations to boost AI ecosystem in Malaysia, unpacks AI strategy for businesses industry-leading security, observability, and data enables us to offer visibility and insight across our customers ‘ entire digital footprint. What partners like TM and PNB have announced today shows how our AI innovations can support Malaysian businesses by enhancing their operations, improving customer experiences, and fostering long-term growth.

Additionally, Cisco, MDEC, and UTM announced the launch of an AI hackathon open to all university students from engineering and computer science faculties nationwide. Students will have a platform at the hackathon to create AI-driven solutions that could improve education, from enhancing learning experiences to automating administrative tasks for staff.

The event will begin with training sessions provided by Cisco, the hackathon’s technology partner for networking, security, collaboration, and data centres, which students will use to develop their ideas. They will also be given guidance and coaching through one-on-one mentoring with Cisco solution engineers. A maximum of 20 teams, each consisting of two to five members, will compete in the hackathon.

Following an exchange of MoU documents between the two parties, MyDigital Corporation, an agency under the Ministry of Digital that oversees and facilitates the execution of initiatives under the Malaysian Digital Economy Blueprint ( MDEB ) and the National 4IR Policy, recognized its partnership with Cisco as a Technology Immersion Partner for its Executive Digital Leadership ( EDL ) Programme. EDL aims to give C-suite executives in both the public and private sectors a thorough understanding of how various technologies work and how to successfully integrate them into their organizations. Cisco will incorporate its Internet of Things course into EDL as part of its Cisco Networking Academy curriculum, which is one of the longest-running skills-to-jobs programs in the world. This course will outline the IoT and demonstrate how it affects digital transformation across various industries.

To date, Cisco Networking Academy has equipped over 150, 000 learners in Malaysia with in-demand digital skills, including networking, cybersecurity, and data science, in collaboration with 120 higher learning institutions and organisations offering Networking Academy courses. The programme has contributed to a diverse workforce, with 37 % of learners being female.

13 businesses selected for Tegas Fundraising Accelerator batch 3

By: Mary Blight

On: October 1, 2024

In: Technology

The throttle helps startups develop pitches, bring capital
aims to place native startups at the top 20 in the global business ecosystem by 2030.

Participants engaged attentively during a session on the first day of the TEGAS Fundraising Accelerator.

Through its TEGAS Digital Village ( TDV), Tabung Ekonomi Gagasan Anak Sarawak ( TEGAS ) has made the selection of 13 businesses for the third cohort of the TEGAS Fundraising Accelerator ( TFA ) program. The TFA is designed to promote the growth of local businesses and social organizations, aligning with Sarawak’s Post-COVID-19 Development Strategy and the Sarawak Digital Economy Blueprint 2030.

In a statement, the agency confirmed that the selected organizations for the program include NR&amp, Sons Holdings, Best Academy, Evolving Brilliance Technologies, Ensera, Harapan Anak Urang Sarawak, Fit Two Shape, OINC, Spearcompute, Miaw Destiny Solution Management, Noms Fochun Founders, Ark Hill, Zinsolar Engineering, and HY Energy Services.

TEGAS is responsible for the four-day TDV Kuching program, which is co-hosted by PitchPlatforms Sdn Bhd ( pitchIN ) and MyStartup. While MyStartup, a national initiative created by the Ministry of Science, Technology, and Innovation ( MOSTI ) and Cradle Fund Sdn Bhd, aims to boost the competitiveness of local startups with the goal of achieving a top 20 position in the Global Startup Ecosystem by 2030, PitchIN is Malaysia’s Digital Fundraising and Investment Hub.

13 businesses selected for Tegas Fundraising Accelerator batch 3 The TEGAS Fundraising Accelerator was created to assist business owners with little or no experience in obtaining additional funding. Through this ongoing initiative to nurture startup growth in Sarawak, founders will be equipped with essential techniques and insights needed to successfully raise capital”, said Len Talif Salleh ( pic ), Deputy Minister of Urban Planning, Land Administration, and Environment, who is also Chairman of TEGAS.

” This program offers an in-depth investigation into the subtleties of funding, ensuring businesses are better prepared for buyer engagement”, he added.

Xelia Tong, Chief Operating Officer of pitchIN, is one of the instructors for the project, alongside other significant early-stage owners, funding organizations, and venture capitalists. These experts may offer valuable insights into the fundraising process and give participants a thorough understanding of buyer expectations and tactics to secure financing.

The accelerator aims to help startups improve their pitches, navigate challenging investment environments, and maximize their potential to get additional funding.

” Since partnering with TEGAS in 2019, we’ve seen remarkable growth in the local habitat, especially in nurturing Sarawak companies. We’re confident that this program will help local entrepreneurs expand their fundraising capabilities and help them grow and contribute to the state’s expanding firm landscape as we approach the second year of operation of the Sarawak fundraising accelerator,” said Tong.

TM Global extends collaboration with Radian Arc to strengthen cloud gaming offerings

By: Mary Blight

On: October 1, 2024

In: Technology

Attempts to strengthen M’sia’s sky games, grow to the Middle East &amp, Africa
Collaboration is in line with TM’s goal of becoming a modern superstar by 2030.

TM and Radian Arc signed an agreement for Cloud Gaming services witnessed by Fahmi Fadzil, minister of Communications, Malaysia (Middle).

The domestic and international wholesale division of Telekom Malaysia ( TM) has announced a two-year extension of its cooperation with Radian Arc, a provider of global cloud infrastructure, through TM Global. This ongoing relationship will concentrate on expanding TM’s global sky gaming services.

TM Global and Radian Arc may strengthen Malaysia’s sky game landscape while extending services to areas like the Middle East and Africa following their successful 2022 cooperation. The prolonged deal leverages Radian Arc’s GPU Edge systems and the low-latency SHAKS Gamepad joystick developed by AKSys Co., ensuring a smooth gaming experience and boosting TM Global’s ability to offer high-quality, real-time applications.

The drafting took place in Seoul, attended by Malaysia’s Communications Minister Fahmi Fadzil. TM Global’s Executive Vice President, Khairul Liza Ibrahim, signed on behalf of TM, while Radian Arc was represented by CEO David Cook.

Khairul stated,” This engagement with Radian Arc reinforces our responsibility to delivering cutting-edge options for digital change. The diversity of GPU technology enables us to meet the changing demands of our clients. We are looking forward to expanding our partnership with Radian Arc, which will improve both our existing companies and open up new markets.

The partnership supports TM Global’s aim to explore innovative solutions such as Bandwidth-on-Demand and GPU-based options, enabling high-performance programs like AI inferencing, Big Language Model education, and Desktop-as-a-Service. Customers will have access to flexible, cloud-based resources through these offerings to advance digital innovation in their journey through digital transformation.

David Cook, CEO of Radian Arc, said,” We are delighted to expand our relationship with Telekom Malaysia, paving the way for companies like GPU-as-a-Service and BoD. Collectively, we may increase TM’s offerings and develop into new areas, empowering businesses with the technologies they need to thrive”.

This partnership is in line with TM’s strategic goal of becoming a Digital Powerhouse by 2030, promoting online conversion across all industries, and positioning Malaysia as a key electronic gateway in Southeast Asia.

GLICs begin targeted capital deployment under MOF’s Gear-uP programme to boost key sectors

By: Mary Blight

On: October 1, 2024

In: Technology

attempts to use US$ 29.1 billion over the course of five times to stimulate economic growth.
Initiative aims to boost M’sian business, increase the rakyat’s quality of life

Panel Session Group Photo at Invest Malaysia 2024 featuring (from left) CEO Bursa Malaysia, Muhamad Umar Swift, CEO Employees Provident Fund (EPF) , Ahmad Zulqamain Onn, managing director Khazanah Nasional, Amirul Feisal Wan Zahir, CEO Kumpulan Wang Persaraan (Diperbadankan) (KWAP), Hajah Nik Amlizan Mohamed and chief executive Lembaga Tabung Angkatan Tentera (LTAT) , Mohammad Ashraf Md, Radzi.

Malaysia’s Government-Linked Investment Companies ( GLICs ) reiterated their joint commitment to supporting the Ekonomi Madani framework through targeted capital deployment in high-growth, high-value sectors at the Invest Malaysia 2024 Conference, themed” Where Policy Meets Progress”, launched recently by Anwar Bin Ibrahim in Johor.

During a panel session, GLIC heads highlighted their focus areas within the Ministry of Finance ( MOF ) -led Gear-uP initiative, which aims to deploy US$ 29.1 billion ( RM120 billion ) over the next five years to drive economic growth. The eyes of KWAP, EPF, Khazanah, and LTAT discussed areas for targeted investment, including agriculture, the semiconductor business, the venture capital habitat, system, clean energy, data centres, care, and biopharmaceuticals.

The Malaysian economy has shown significant growth in the first half of 2024, expanding by 5.1 % year-to-date (YTD ). The Ringgit’s 5.1 % increase against the USD YTD reflects this good trend. Also, the Malay equity market has outperformed the place, with the KLCI rising 13.5 % YTD and reaching a multi-year substantial of 1, 678.8 in August. The Ekonomi Madani Framework’s success, particularly in terms of financial reform and governmental measures, is reflected in this consistent economic efficiency.

Building on this success, the Gear-uP initiative seeks to further strengthen Malaysia’s economic foundations, with GLICs leading efforts to” Raise the Ceiling” of Malaysia’s economic stature and” Raise the Floor” of the rakyat’s quality of life. By concentrating on domestic investments, the initiative aims to bring about new financial ecosystems and gain Malaysians equally.

Hajah Nik Amlizan Mohamed, CEO of KWAP, said,” KWAP is implementing a new Strategic Asset Allocation ( SAA ) to optimise our portfolio’s risk-return profile, aiming to diversify further with private market investments. This is in line with our goal, which is to maximize returns while also advancing the national agenda of creating a vibrant local personal market in accordance with the framework of the Madani Economy.

She added,” We have identified three key strategic focus areas: agriculture and food security, the semiconductor industry, and the venture capital ecosystem. Our crops goal is to promote nationwide food security by supporting novel agribusinesses. We want to advance Malaysia’s reputation internationally by moving away from simple production to more sophisticated production processes like chip design and difficult presentation. Through our walk money efforts, we are cultivating an ecology that encourages innovation, creativity, and risk-taking”.

” These proper investments aim to gain significant long-term worth while contributing to Malaysia’s economic growth. By focusing on these businesses, KWAP is positioned to drive technology, create high-skilled career, and help sustainable economic growth, benefiting our partners and reinforcing KWAP’s function as a vital institutional investor in Malaysia’s financial landscape”, she concluded.

As part of the Gear-uP initiative led by the Ministry of Finance, KWAP has committed to allocating US$ 9.7 billion ( RM40 billion ) to Malaysia’s private sector, contributing to the collective US$ 29.1 billion ( RM120 billion ) pledged by six major GLICs.

Employees Provident Fund ( EPF ) CEO Ahmad Zulqarnain Onn stated that the company’s reallocation into domestic direct investments supports our national strategy for sustainable growth while remaining compliant with the broader national agenda for sustainable growth. A significant portion may be directed towards infrastructure projects, including clean energy, data centres, and critical transportation centers like airports and burden roads —sectors necessary to Malaysia’s long-term growth. As we anticipate the growing demands of an aging population, our health is also at the forefront of our strategy to ensure our investments deliver long-term value while ensuring our mission is to provide a secure and dignified retirement for Malaysians.

Khazanah Nasional’s managing director, Amirul Feisal Wan Zahir, stated that the company will continue to leverage its strategic position to deploy capital across the continuum of capital, starting with the National Fund-of-Funds initiative and pursuing initiatives for Mid-Tier Companies and efforts in the semiconductor sector. Khazanah’s ‘ A Nation that Creates ‘ framework will focus on boosting national productivity through investments in productivity, innovation, and business transformation. We will prioritise connectivity, energy transition, and digitalisation to raise the ceiling for all Malaysians”.

He continued,” To raise the floor, we will concentrate on sustainable economic development with an emphasis on capacity building through talent upskilling and reskilling to align with global megatrends.”

Lembaga Tabung Angkatan Tentera ( LTAT ), the company’s CEO Ashraf Radzi, emphasized LTAT’s commitment to strengthening Malaysia’s pharmaceutical value chain by promoting local biopharmaceutical production through its investee company, Pharmaniaga Berhad.

” This strategic focus aims to lower import dependence and ensure the supply of crucial pharmaceutical products, while enhancing public access to essential healthcare. He continued,” Investing in the domestic pharmaceutical sector contributes to the creation of a self-sustaining healthcare supply chain that benefits Malaysians and adds value to the national economy.”

Click here for more information on the MOF-led Gear-uP programme.

Nexlaw.AI, Thomas Philip partner to launch legal AI trial copilot system in Malaysia

By: Mary Blight

On: September 30, 2024

In: Technology

Thomas Philip did liquidity Nexlaw’s tools throughout various stages of litigation
Deployment of solutions may permit firm to&nbsp, simplify, enhance&nbsp, test prep processes

Nextlaw. AI, the company of constitutional AI systems, and Thomas Philip Advocates &amp, Solicitors, a debate quality law firm, have announced a partnership to build a pioneering trial preparation solution for disputes and litigation. The events stated in a statement that this collaboration makes use of cutting-edge AWS Cloud system and NVIDIA GPU systems to revolutionize trial preparation, giving law firms a major competitive advantage in courtrooms.

Through this agreement, Thomas Philip Advocates &amp, Solicitors may employ Nextlaw’s Legal AI tools, especially the Constitutional AI Trial Copilot, to strengthen its constitutional teams at different stages of dispute, including case strategy, document review, witness preparation, and courtroom presentation. This integration strengthens the agency’s position as a pioneer in legal-tech innovation and highlights the potential of AI to deliver better legal services and top-notch client outcomes.

” We are thrilled to mate with Thomas Philip, a strong synonymous with quality in the legal industry”, said Francis Lui, founder and CEO of Nextlaw. By incorporating our privacy-first developed AI technologies into their dispute process, we hope to provide their authorized groups with unmatched insights and capabilities, leading to the achievement of outstanding results for their clients and shaping the future of legal services.

Mathew Thomas Philip, managing partner of Thomas Philip, added,” This association with Nextlaw scars a major step for our company and the Malay legal environment. By harnessing the power of AI, AWS Cloud, and NVIDIA GPU technology, we are committed to enhancing our legal services, providing even greater value to our clients, and driving innovation in the legal industry”.

The deployment of the Nextlaw. Thomas Philip Advocates & Solicitors will benefit from the AI Trial Preparation Solution to transform the way its trial preparation process works, gain a significant edge in the courtroom, and deliver notable results for its clients.

The Deep Tech goldmine: Challenges and opportunities in Malaysia’s growing ecosystem

By: Mary Blight

On: September 30, 2024

In: Technology

Strength of the transistor habitat provides a good foundation for the development of new capabilities
It is crucial to encourage designers to rise as owners in order to foster innovation.

Ir. Dr Bernard Lim, vice chairman of MBAN Penang believes that Malaysia’s existing semiconductor ecosystem offers a strategic advantage for deep tech startups, particularly those focused on hardware.

As technology evolves, Malaysia is positioning itself at the vanguard of profound software, a business promising long-term growth and innovation. But, startups and investors alike continue to face a significant problem as they try to commercialize deep systems. Ir. speaking at the monthly MBAN Forum next year. Dr Bernard Lim, vice president of MBAN Penang, highlighted the potential of serious technology, while also managing expectations for buyers.

Malaysian Business Angels Network is abbreviated as MBAN.

Understanding strong technical

Deep software, or heavy technology, is different from standard technology startups models where innovation revolves around business models and consumer-facing applications. Strong technology on the other hand, focuses on medical advances and engineering-driven options. Startups in this space work on disruptive technologies such as artificial intelligence ( AI), blockchain, biotechnology, and advanced computing, which require long research and development ( R&amp, D) cycles before delivering commercial returns.

” The gestation period is longer”, Lim emphasised. It’s not just about coming up with an idea and putting it into action. In heavy software, you need major R&amp, D, testing, prototyping, and constant elegance before even thinking about marketplace entry”.

Long birth period, large investment challenges

Deep tech’s lengthy gestational cycle and difficulty provide unique challenges. Companies in this industry usually need a few years to introduce their products. Unlike technology companies, which can run fast, deep technology solutions involve equipment development, extensive research, and stringent regulatory compliance, particularly in sectors such as healthcare and biotechnology.

Buyers, especially those expecting quick results, need to change their perspective when dealing with deep-tech companies. As Lim noted,” Do n’t expect a three-year return. You may wait five to eight times, and in health industries, it might take even more”.

This prolonged timeline, coupled with higher cash requirements, creates major barriers to entry. Investors must be persistent and have a thorough understanding of the complex industrial processes involved.

Malaysia’s place in the semiconductor business

Malaysia’s solid foundation in the silicon industry is one promising place. Since entering the world semiconductor industry in 1972, the state has grown to become the sixth-largest producer of electronics. Lim said that by 2030, the global semiconductor market could reach US$ 1 trillion globally ( RM4.21 trillion ).

Despite a momentary decline in the market following Covid-19, demand for electronic parts is expected to recover, driven by advances in high-performance technology, artificial intelligence, and consumer technology. Malaysia’s existing semiconductor ecosystem offers a strategic advantage for deep tech startups, particularly those focused on hardware.

Penang: The Silicon Valley of the East?

Penang is emerging as Malaysia’s hub for deep tech innovation. The state has for decades been at the forefront of Malaysia’s semiconductor sector, often referred to as the” Silicon Valley of the East.” With a rich pool of engineering talent and an established manufacturing infrastructure, Penang is well-positioned to lead the country’s deep tech charge said Lim.

However, challenges remain. As Lim noted, many engineers in Penang have traditionally worked in factories, focusing on production rather than entrepreneurship. ” Many engineers in Penang have spent years in factories, focusing on production, but what we need now is for them to take the leap into entrepreneurship, to lead their own startups and drive innovation in the ecosystem”. &nbsp, Encouraging these engineers to take this leap is crucial for the ecosystem’s growth, he asserts.

Collaboration and the development of the ecosystem

Another encouraging development is that Malaysia’s deep tech ecosystem is no longer limited to Penang. Selangor and Sarawak, along with projects like the Selangor IC Design Park and Sarawak’s growing interest in integrated circuit design, are also making progress. These initiatives aim to expand the nation’s capabilities in semiconductor and deep tech, encouraging cooperation among states.

Although the road to deep tech success may be difficult, Malaysia is well-positioned to capitalize on the upcoming wave of technological advancements with its expanding expertise in semiconductors and a push for innovation across multiple states. We hope to eventually imitate Silicon Valley and expand as quickly as possible. That’s our wish. And longer term, we aim to expand the deep tech ecosystem throughout Malaysia”, said Lim.

Mary Blight (Page 10)