Mary Blight – Page 35

Boost Bank launches pioneering embedded digital bank app to Malaysian

On: June 6, 2024

Customers can look forward to the bank’s future Bank Card, already in the pipeline
promises to be one of the few M’sian businesses to accept new customers without having any prior records.

Left to Right:: Mohd Rashid Mohamad, group managing director/group CEO of RHB Banking Group, David Lau, chairman of Boost Bank, Fozia Amanulla, CEO of Boost Bank, Vivek Sood, group CEO and managing director of Axiata Group Berhad and Sheyantha Abeykoon, group CEO of Boost

The launch of Boost Bank by Axiata and RHB ( Boost Bank ), a homegrown digital bank approved by Bank Negara Malaysia and the Ministry of Finance, with a pioneering embedded onboarding journey, made the announcement that the app, which is now officially accessible to the public. &nbsp,

The bank said in a declaration that all present advanced budget users on the Boost app application will be able to start a Boost Bank account in a smooth recruitment process. This places Boost Bank at the forefront of integrated banks, which seamlessly integrates with Malay ‘ everyday routines.

One of the few banks in Malaysia that will let users who do n’t already have bank accounts digitally sign up is Boost Bank, claims the company. This goes against its original intent to reach out to the underprivileged and underserved segments of society.

As the first digital bank in the market to combine the technology-first mindset of a finance with the confidence and security of a sizable financial institution, Boost Bank and RHB Banking Group ( RHB) have a strategic relationship. Users can expect the best of both worlds thanks to this interaction, which combines the encouragement and dependability of a well-established banking institution with the innovative financial solutions delivered with the dexterity of a fintech.

The lender will use lovers that it has grown with to market its ideas in addition to Boost Bank’s habitat. Customers can anticipate some relationship promotions in the upcoming months across both West and East Malaysia, including CelcomDigi, Mydin, and Bataras Sdn. Bhd., Cks Retail Sdn. Bhd., Farley (KCH) Sdn. Bhd., Servay Hypermarket ( Sabah ) Sdn. Boulevard Hypermarket and Departmental Store Sdn., and Bhd. &nbsp,

Through these collaborations, the lender said it will provide rewards and discounts on daily necessities to match the financial requirements of the underbanked and vulnerable. Customers who transact with its release partners you anticipate higher special interest rates to be announced quickly, too. &nbsp,

According to Boost, it has an existing and honor- winning loyalty program for many years, known as the BoostUP Loyalty Programme, that has been well- received in the market. As one of its crucial value ideas, it is launching a fresh special rank called” Platinum President” for customers who open a Boost Bank account and fulfil certain conditions. All users need to do is simply deposit a minimum of US$ 426 ( RM2000 ) into the Boost Bank’s Savings Jar and/or Savings Account, where they can receive a promotional daily interest rate of up to 3.6 % p. a. from now until 31 August.

After the promotional period, the regular conventional Savings Jars interest charges will be 3.2 % p. a. for Platinum President people. After the two apps are linked, those who achieve the Platinum President status on the Boost Bank application may be automatically upgraded to the highest position on the Boost paytm app in order to receive up to 3x Increase Stars for every ringgit spent on qualified transactions.

Users who embrace our online bank have the unique opportunity to skip to Platinum President, even those in lower ranks, said Boost.

Moreover, there will be forthcoming partnership offers and more benefits with one of our launch partners, Mydin, in the coming weeks that could allow users to earn higher promotional interest rates while receiving partner gains on Boost Bank’s lovers ‘ saving bottles. DuitNow transfers can be made using funds from the Boost Bank app, including to the Boost eWallet app, where they can be used to make national-wide QR code payments and online transactions.

Loyalty Rank	Boost Bank’s Savings Jars Daily Interest Rate ( Weekly Return )*	Boost eWallet app’s Boost Star Earnings*
Platinum President with Partner Benefits	Higher promotional interest rates are on the horizon.	3x on eligible transactions
Platinum President	3.6 % p. a. from 6 June to 31 August, during promotional period ( Standard rate: 3.2 % )	3x on eligible transactions
All Other Loyalty Tiers	1.5 % p. a. ( Fast- track to Platinum President rank after depositing RM2000 )	1x on eligible transactions

Furthermore, in compliance with regulatory standards, each deposit is protected by the Perbadanan Insurans Deposit Malaysia ( PIDM) for up to US$ 53, 200 ( RM250, 000 ). Users can be assured that their funds have a safety net even in unanticipated economic crises or unforeseen circumstances thanks to PIDM.

To safeguard users ‘ accounts, the Boost Bank app has implemented the’ Freeze Account’ for emergency situations,’ Device Binding’ for access control, and ‘ Cool- Off Period’ for new device logins, as part of its comprehensive security measures. As an added layer of defence, the digital bank is also supported by a 24/7 Fraud Hotline at 60162999831. Users can quickly and conveniently access their accounts thanks to these safety measures if they suspect unauthorized malicious activity.

&nbsp, Vivek Sood, group CEO and managing director of Axiata Group Berhad, said,” At Axiata, we are dedicated to growing an inclusive and robust digital banking ecosystem in Malaysia. The launch of Boost Bank is a significant step in improving Malaysia’s ability to access financial services.

He continued, stating that the company’s goal is to make the digital banking landscape more accessible to those who have no access to traditional banking and contribute to a more diverse digital society. ” Boost Bank will therefore add financial products to the already-described fintech features of the Boost eWallet app. As Axiata moves forward with our Telco-TechCo journey, we will continue to focus on expanding our offerings to consumers through digital businesses and creating long-term value for our shareholders, according to Vivek.

Meanwhile, Sheyantha Abeykoon, group CEO of Boost, said:” Today marks a pivotal moment at Boost, as we fully realize our vision of becoming a full- fledged digital bank, and become the first in market that integrates embedded banking effortlessly, and is a testament to the robust fintech ecosystem and track record of excellence we’ve established. Boost Bank is poised to offer an unmatched banking experience that intuitively integrates into our users ‘ daily lives, meeting their needs and developing deep, meaningful relationships by drawing on various learnings from across our business.

He continued,” Our ongoing innovations and strategic partnerships serve as the foundation for this transformative vision,” stating that the company envisions a future where financial empowerment is guaranteed for everyone.

&nbsp, Fozia Amanulla, CEO of Boost Bank, added:” This journey, years in the making, culminates in a moment of immense pride for our innovative team as we successfully launched Boost Bank. A commitment to pioneering a movement where everyone benefits from access to financial tools that are both as simple and as-effective is at the heart of our innovation. Through our synergy with Boost’s technological expertise and RHB Banking Group’s rich legacy, we are offering more than just banking services, but a financial journey that’s seamlessly integrated and profoundly accessible”.

Mohd Rashid Mohamad, group managing director/group CEO of RHB Banking Group, stated:” Boost Bank represents more than just digital banking, it signifies the creation of a resilient and inclusive financial ecosystem. We are collaborating with Boost to create a strategy that embraces innovation and addresses changing customer needs, particularly those in underserved and underserved areas.

He added that by giving customers access to agile and, more importantly, secure digital financial services, the Boost Bank app will help fill in financial inclusion gaps. In line with our Sustainability Strategy and Roadmap, which aims to empower more than two million people and businesses across Asean by 2026, Mohd Rashid said,” This endeavor underscores RHB’s unwavering commitment to enhance our digital propositions and fostering financial inclusivity for all Malaysians.”

Boost Bank will expand its digital bank app features and solutions as the digital bank industry grows to better meet the needs of all Malaysians. The Debit Card is a upcoming product development that is already in the pipeline and that users can anticipate.

The Boost-RHB Digital Bank Consortium, in which RHB owns the remaining 40 % of the company’s equity and Boost holds the other 60 %, was one of the five successful license applicants announced by BNM in April 2022, and it formally reopened its doors on January 15, 2024, with official regulatory approval.

For more information, please visit Boost Bank’s website here. The Boost Bank app can now be downloaded from the Google Play Store and the Apple App Store.

LGMS, introduces StarSentry, in-house developed plug and play box to help SMEs fend off cyber threats

By: Mary Blight

On: June 5, 2024

In: Technology

2- year&nbsp, R&amp, D work, release comes on feet of&nbsp, regional Security Bill 2024&nbsp,
AI&nbsp, bot to get latest feature added&nbsp, to help boost understaffed SMEs deal with threats

According to LGMS Bhd, a Malay cybersecurity firm listed on Bursa Malaysia, &nbsp, 84.7 % of SMEs in the country have experienced virtual challenges in 2022. And with the digital business projected to add 25 % to GDP by the year 2025, Gobind Singh, Malaysia’s secretary of digital, has made cybersecurity a top priority. &nbsp,

” As our business continues to move to new online paradigms, the administration’s commitment to securing our modern landscape is more heightened. In this environment, security has evolved from a specific problem to what we name as a basic necessity”, said Gobind&nbsp, on 4th June at the start of StarSentry. &nbsp,

StarSentry is a plug-and-play box developed by LGMS subsidiary Applied Security Intelligence Sdn Bhd ( ASI) after two years of R&D.

The government’s introduction of the Cyber Security Bill 2024, which holds organizations that run National Critical Information Facilities (NCII ) accountable for security vulnerabilities that affect them and their customers, followed the release of StarSentry in April.

The Malaysian Critical National Information Infrastructure is protected by the Cyber Security Bill 2024, which applies to both the country’s economy and company procedures. According to Gobind, the Bill may hold specific company directors accountable if it is discovered that they have neglected cybersecurity and the result of the company being compromised. NCII aims to protect both large and small businesses in order to create a secure online business environment.

LGMS, introduces StarSentry, in-house developed plug and play box to help SMEs fend off cyber threats

Chairman of LGMS Fong Choong Fook ( pic ), who stressed the value of visibility and early detection, also reacted with caution about the dangers of being unaware of cyber risks and how to protect against cyber threats. &nbsp,

Fong noted that the biggest challenge for SMEs was merely identifying where their greatest danger lay, despite the fact that smaller companies may not be able to employ security consultants or protection engineers. Because there are so many options, he said,” they do n’t know where to start when choosing a cybersecurity solution.”

This is the reason StarSentry was created.

” Therefore, StarSentry offers a consumer- friendly, plug- and- play ( place the equipment without any extra construction ) approach at an affordable price, it encompasses a comprehensive answer for SMEs to be aware of cyber threats within their structure through advanced risk scanning and proactive threat detection features, along with cyber risk insurance for eligible subscribers”, Fong said.

Like a” security md,” it conducts risk checks on a weekly basis to inform SMEs ahead of time what kind of virtual threats they may encounter.

An interior server security that acts as a trap for any possible hackers and quarantines them is another interesting feature. Terminal protection is delivered by WithSecure, a Finland based lover of LGMS.

We are even considering using an AI bot to assist SME owners learn more about the reports Star Sentry has produced, Fong said.

A one- year subscription costs US$ 2, 745 ( RM12, 900 ) with 1 to 1 swap warranty during subscription period and software lifetime OTA upgrades and regular updates. LGMS declined to disclose the estimated costs involved in developing StarSentry and the earnings growth.

LGMS via ASI even established partnerships with Tokio Marine Insurans Bhd and VSTECS Astar Sdn Bhd at the celebration. &nbsp, The former underwrites cyber insurance worth ( US$ 6, 384 ) RM30, 000 for StarSentry subscribers while the latter is StarSentry’s exclusive distributor.

Avanade appoints Bhavya Kapoor as new Growth Markets Area President

By: Mary Blight

On: June 4, 2024

In: Technology

Achieves Rodrigo Caserta, then Avanade’s Global Technology Business Group direct
Responsiblilities include accelerating progress, expanding Avanade’s business management

Avanade appoints Bhavya Kapoor as new Growth Markets Area President

Avanade, the leading Microsoft solutions provider, has announced that it has appointed Bhavya Kapoor ( pic ) as the new area president for Growth Markets. Most recently, Bhavya, the company’s Southeast Asia handling director, succeeds Rodrigo De Queiroz Caserta in his novel capacity as Avanade’s Global Technology Business Group leader. Both sessions take effect on June 1st, 2024. &nbsp,

In his fresh position, Bhavya is responsible for Avanade’s proper way and priorities, accelerating business development, expanding the company’s market- leading position, and creating an inclusive culture across Avanade’s most different regions that include Asia- Pacific, Japan and Latin America. Bhavya reports into Pamela Maynard, CEO of Avanade, and joins Avanade’s international Executive Committee. He continues to be based in Singapore.

Bhavya joined Avanade in 2021 as its Southeast Asia handling producer, with over two decades of experience in business management, technology and auditing. Under his management, Avanade’s Southeast Asia firm has experienced twice- digit growth, recognized as an inclusive company, and named Microsoft’s leading partner in the region. &nbsp,

Bhavya graduated from Harvard Business School, holds a bachelor’s degree in electronics and communications, and is a graduate of Harvard Business School. He also serves on the board of directors of the International Institute of Rural Reconstruction, a global non-profit firm whose goal is to inspire rural individuals to develop resilient communities and achieve social equality through innovative and community-led action.

Pamela Maynard said” With Bhavya’s proven track record of creating and ramping businesses in large- development regions, complemented by his love for inclusion, diversity and sustainability, I am convinced that he will continue to drive our business to new heights. Rodrigo Caserta deserves special appreciation for the tremendous impact he has had on our Growth Markets business over the past four years. I look forward to Caserta’s application of Growth Markets ‘ learnings and experiences to his new position as Avanade’s Global Technology Business Group Lead.

Growing Markets is an exciting fusion of the world’s most dynamic and diverse territories, according to Bhavya, and I’m honored to lead our people and business into the next chapter of growth. I’m eager to embark on this journey together with our people, clients, communities, and ecosystem partners because these areas are filled with exceptional talents and organizations with enormous potential. Through the use of AI, data, and human ingenuity, we will empower people and businesses to make a real human impact.

DisruptInvest 2024: Gobind Singh talks digital, true investments and Madani but can he be bold?

By: Mary Blight

On: June 3, 2024

In: Technology

Set off the same old and dated justifications for why it is impossible and believe in yourself.
work with other officials to improve the nation’s reputation as a modern citizen.

Gobind Singh, Minister of Digital (7th from right) with Ben Lim, founder and CEo of Nexea Ventures, which organised DisruptInvest 2024, with speakers and partipants.
GobidMalaysia’s Minister of Digital, Gobind Singh, spoke at ^the 5^th DisruptInvest Summit on 23 May where he highlighted ^the administration’s dedication to support and help develop a strong business ecology ^through various initiatives, wi^th ^the release of ^the annual KL20 summit in April designed to help light Malaysia’s business ecosystem to foreign VCs, as ^the latest signal of ^this intent. The government emphasized its goal of making Kuala Lumpur ^the Top 20 World Startup Ecosystem, ^thus KL20, by 2030.

In six and a half years, leapfroging 50 spots is a significant challenge ^that will require strong actions and strong government support, especially since KL is already in ^the 70^th spot.

One such bold move, and yet low hanging fruit, will be to get authorities, the largest consumer of software companies in the country, to have its various departments and agencies move a small percentage, say 10 %, of their IT spend to businesses and homegrown software companies that have built their own solutions.

This concept has been repeatedly pushed aside and is not novel. I once asked Malaysian Prime Minister Mahathir Mohamad about the legality of requiring a small portion of government IT spending to be distributed to Malaysian tech companies in a press conference in 2002 in order to demonstrate the viability of their solutions. The question was not taken seriously.

But two decades later, the question must be taken seriously. Because, today, just as back then, the government aspires for Malaysian tech companies and its startups to be regional if not, global players. Stop aspiring for such bold goals if, as some have crossed RM400 million in revenue, we still do n’t show confidence in our own homegrown tech founders and their businesses today, because actions reveal true intent.

Here, Gobind can lead by example, be bold. The Digital Ministry should be the most digital in terms of its processes and engagement with the public and business because it is a new ministry and has no long-established relationships with IT vendors. Gobind must put aside the same old and dated justifications for why it is impossible and give favor to local tech startups.

The knowledge he acquires can then be applied to Minister Rafizi Ramli, a former minister himself, to the Economy Ministry. And so on to another ministry and so on.

Let’s see if Gobind, whose appointment as minister was well greeted by the tech ecosystem, leads the way.

Importance of capital

Gobind who also spoke at KL20, described capital as a catalyst to fuel KL20’s ambition, empowering innovators to push boundaries, challenge the status quo. The investments of today will be what will make the world of tomorrow,” he declared. The CEO of Vertex Holdings, Chua Kee Lock, who emphasized during his keynote that funding is a key factor in startup success, also made reference to the importance of capital.

This is also the reason the government is coordinating the two main public startup funding organizations, Mavcap Bhd and Penjana Kapital Sdn Bhd, into one entity that is governed by Khazanah Nasional Bhd, a sovereign wealth fund. Consolidation will give the government better visibility into the performance of its startup investments because both operate as fund of funds.

Gobind has a broad scope of responsibility as the digital minister, which is the first time such a ministry has been established in Malaysia. The National ICT Association, Pikom, anticipates that the Digital Economy will contribute to Malaysia’s economy by this year, as measured by GDP. As such, when he speaks of investment, Gobind does not just refer to startup funding.

For instance, he noted the 279 % jump in digital economy investments ( mainly in data centres ) the country enjoyed in the first half of 2023, translating to RM28.4 billion. And, without giving the time frame, he shared that almost 70 % of Malaysia’s RM225 billion approved investments are in the digital economy.

]Ed: Approved investments are not the same as realized investments with the latter always falling short of the former due to factors such as changes in company’s leadership/direction, macroeconomy shifts, and where investors and the government are unable to agree on actual details/benefits. ]

He also shared that Malaysia Digital Economy Corporation ( MDEC ), one of the agencies under his portfolio, had facilitated 262 funding deals for local tech companies, worth US$ 402 million between 2020 and 2023.

Gobind’s responsibility, as Digital Minister, is to collaborate with other ministers to make the country shine as a digital nation and a digital economy with a highly digital savvy population. Take care of that, and startups will make investments that are digitally skewed, either for automation of manufacturing, or to increase business efficiency through the use of 5G technology.

One international collaboration Gobind mentioned is with the world’s leading pre-advisor, Draper University, which announced in March that it would establish its first campus outside of Silicon Valley. Such a move is crucial for advancing and leading the VC pipeline and startups looking to expand in Malaysia, according to Gobind.

Does not see need to stamp mark by creating new blue prints/masterplans

With less than 280 bureaucrats ( note that this is separate from the headcount of the various agencies that report to the ministry ), Gobind’s leadership of the Digital Ministry is interesting because he is carrying out the role by working within already established initiatives to support the digital economy rather than launching any big bang blueprints or road maps himself.

His argument was that the execution of the current roadmaps and blueprints is essential for success. Changes needed, based on ecosystem feedback, can be done without tearing up existing plans and starting over. He does n’t feel the need to use big initiatives to stamp his own mark, according to an executive who is aware of his mindset. Gobind believes he is applying the lessons he learned from his first two years as minister, from May 2018 to February 2020.

He also advocates for the welfare of consumers and businesses. When given information on the activities of the organizations and businesses that report to him, including MDEC, MyDigital Corp, CyberSecurity Malaysia ( CSM), and Digital Nasional Bhd ( DNB), Gobind tries to understand how the target market can profit. He has made it abundantly clear that he does not want initiatives to be run or new ones to be developed solely for the sake of reporting, according to the executive.

Seeking inclusive, sustainable growth via Madani framework

Gobind emphasized that” true investment is not only about allocating capital,” with the Madani Economic Framework serving as the government’s guiding principle for the government’s leadership and development agenda. By investing in the advancement of humanity and the advancement of society, it aims to foster a legacy of prosperity and progress.

He claimed that this serves as” the moral compass for initiatives like the KL20 Summit, with action plans geared toward ensuring sustainable economic growth and social justice.”

And Gobind emphasized that his government is committed to creating a conducive digital ecosystem for the nation and the region with Malaysia taking over the ASEAN chair next year. ” This cannot be done without ethical investment”.

Equinix opens two data centers in Malaysia with US0 mil invested to date

Equinix opens two data centers in Malaysia with US$140 mil invested to date

By: Mary Blight

On: June 1, 2024

In: Technology

Numerous lessons were learned by Malaysian service providers when the two features were being constructed.
JH1 in Johor provides obvious cost savings for Singapore companies looking to outsource tasks.

Equinix opens two data centers in Malaysia with US$140 mil invested to date

Equinix, a Nasdaq listed digital infrastructure company, has opened two data centers in Malaysia, one in the southern state of Johor ( JH1 ) and the central region state of Selangor, with the facility called&nbsp, Kuala Lumpur (KL1 ). These carrier-neutral International Business Exchange ( IBX ) facilities form Malaysia’s digital infrastructure backbone, giving local businesses access to Equinix’s global ecosystem of over ten thousand businesses spread across 260 data centers in 71 major cities. &nbsp,

Equinix opens two data centers in Malaysia with US$140 mil invested to date ” We strongly believe that the entry of JH1 and KL1 inaugurates a new era in Malaysia,” said Cheam Tat Inn, managing director of Equinix Malaysia. ” By providing businesses with unprecedented access to worldwide network and cutting- top systems, Equinix is poised to improve the digital environment” .&nbsp, Cheam was speaking to reporters during a press journey at JH1 on Mon, 27 May.

The US$ 40 million JH1 service, which was announced in Nov 2022, is located 15km from Singapore in Nusajaya Tech Park and offers up to 500 units and 1, 800 square feet of coworking area. When fully operational, the US$$ 100 million KL1 data centre in Cyberjaya is anticipated to have 900 cabinets and 2,630 square feet of space. Both websites bring strong connection and online companies like Equinix Fabric, Cloud Router, and Internet Exchange to Malaysia, said Equinix.

While Equinix did not share prices for its two multi- client sites, also called retail collocation, a property analyst familiar with sales in the Malaysian business said the business value ranged from US$ 106.3 to US$ 117 ( RM500 to RM550 ) per watt per month. &nbsp,

Due to the proximity of the JH1 facility to Singapore, Cheam claims that the “offloading of workloads” will be made possible because Singapore-based businesses with growing digital needs can quickly move across the border to the new data center. By tapping into Equinix’s global reach across 71 cities, Malaysian businesses can also use the site as an interconnection hub to establish digital presences all over the world.

Though Cheam did not mention it, the JH1 facility is expected to offer Singapore based companies a clear cost advantage should they move workloads to JH1, with a market study by Statista.com ( chart ) in July 2020 showing Singapore data centers charging retail colocation rates of between US$ 230 to US$ 280 ( RM1, 032 to RM1, 318 ) per kilowatt. &nbsp,

Equinix opens two data centers in Malaysia with US$140 mil invested to date

While JH1 is anticipated to draw customers from Singapore, multinationals looking to service ASEAN markets from Malaysia are expected to use KL1. Already, Malaysian telcos like TIME and Maxis are leveraging Equinix’s Malaysian footprint, alongside firms spanning fintech, gaming, AI, and content provision.

Cheam remarked on the unavoidable impact of AI on the business, adding that” the deployment of AI use cases is clearly growing at a rapid rate.” AI’s hunger for high interconnectivity also means that,” They]customers ] are not just coming in and doing generic AI- their AI use cases span financial modeling and different industries”.

In a nod to growing concerns about the impact of the expanding data centers on the environment, both JH1 and KL1 are 100 % renewable energy as part of Equinix’s commitment to achieving its goal of becoming climate neutral by 2030, in keeping with Malaysia’s stated sustainability goals. Additionally, the facilities incorporate energy-efficient design that is compliant with international standards to improve power usage effectiveness.

Cheam also addressed the talent shortage in the construction of the highly developed facilities, not from a technological perspective, as the United States is already experiencing a talent shortage that is causing delays in data center construction. Cheam noted that” a lot of learnings went on, especially for Malaysian companies and construction firms,” pointing out that developing such cutting-edge data center facilities calls for close collaboration to develop local expertise. It’s not just about skills for operating the data centers, but helping architects, construction teams, and others understand data center design and building processes”.

To further nurture the data center talent pipeline, Equinix, with over 30 Malaysian staff at JH1 and KL1, said it plans on partnering with government agencies like MDEC, MIDA, and MITI on developing training programs. There are still no plans.

As for further expansion, Cheam said,” The immediate thing is to continue growing JH1 and KL1. Next, we’ll introduce our full line of digital services. We’re seeing strong demand for our data center services. We will be looking into new opportunities based on customer demand, just as we have done so for the last 25 years to address the growth of digital infrastructure.

Digital Penang’s 2024 Hardtech Incubator launches to make Penang a hub for hardtech and deeptech firms

By: Mary Blight

On: May 31, 2024

In: Technology

Seeks to promote popularization of hardtech &amp, deeptech options
Project features 8 Penang- based businesses &amp, academy research projects

Representatives from the eight participating startups for the Hardtech Incubator Programme

Digital Penang, a authorities- linked organization of the Penang State Government, has unveiled the resumption of the Hardtech Incubator Programme. This program, which is inspired by Penang2030’s perspective, aims to move hardtech and deeptech technical solutions, especially those that are transitioning from Technology Readiness Levels five to eight, more quickly.

The Hardtech Incubator Programme, according to Digital Penang, is meant to bridge the commercialization space, ensuring that revolutionary solutions can be brought to the business more effectively and efficiently. The initiative is structured into two main aspects: Incubation and Acceleration.

The Incubation stage focuses on preparing companies with essential business planning, evidence- of- concept ( POC ) development, and business verification strategies.

Participants will receive coaching and resources to use their POCs in the real world, participate in market confirmation activities, and work to gain market traction for their hardware-based solutions during the acceleration phase. Also, startups will be prepared for buyer engagement through seminars on funding strategies and sound presentations.

Eight Penang-based startups and college study projects are featured in this year’s program. Beyond Medicare Sdn Bhd, Bitranger Sdn Bhd, Nexada Technology Sdn Bhd, Wysetime Solutions Sdn Bhd, Wysetime Solutions Sdn Bhd, Zero Technologies Global, Redo Smart Enterprise, and research initiatives from Tunku Abdul Rahman University of Management and Technology, including Automation Warehouse System and Smart Forklift System, are the participating companies.

These speakers discuss solutions like a hardware-based device for monitoring system communications, full HD wireless Augmented Reality spectacles, innovative video analytics for improving urban traffic and financial experiences, and a SaaS IoT hub for several IoT gateways and devices.

The program, which is led by 1337 Ventures, collaborates with Universiti Sains Malaysia, Collaborative Microelectronic Design Excellence Centre, and local services companion Projet Technology Sdn Bhd. Also, Gobi Partners and the Malaysian Business Angel Network have been approved as opportunity capital and funding partners.

According to Chow Kon Yeow, deputy secretary of Penang,” This program is a testament to the Penang State Government’s devotion to transforming the state into the fresh market, in line with the Penang2030 perspective. Through Digital Penang, we are committing to creating a strong technology-focused ecosystem that fosters startup founders and promotes the triple-helix collaboration design between the authorities, industry, and academic institutions.

According to him,” Criticly, this places Penang at the forefront of innovative technology waves and guarantees a prosperous future for our native talents in the emerging technologies grounds.”

The Penang State Government, through Digital Penang, is constantly promoting a strong digital business and industrial development. Through various activities, Digital Penang aims to foster an ecosystem suitable to innovation and entrepreneurship by supporting businesses with money, equipment, and networking opportunities.

Also, the company encourages partnerships between education, industry, and authorities bodies to travel research and development. The Hardtech Incubator Programme supports these goals by providing a clear path for businesses and college projects to market their technologies, helping to advance Penang’s modern economy.

Sunway, Huawei and Chargesini team up to expand EV charging infrastructure nationwide

By: Mary Blight

On: May 30, 2024

In: Technology

Partnership may help form a more sustainable, socially- friendly future
All parties may utilize their strengths to improve M’sia’s EV charging system

Left to Right: Huawei Malaysia vice president of Digital Power Business Department, Chong Chern Peng, Sunway Trading and Manufacturing CEO, Yeoh Yuen Chee and ChargeSini CEO and founder James Goh

Sunway Group, Huawei Technologies ( Malaysia ) Sdn Bhd, and ChargeHere EV Solution Sdn Bhd ( ChargeSini ) have signed a Memorandum of Understanding for the development and rollout of more electric vehicle ( EV ) charging stations at Sunway- owned premises, commercial buildings and residences nationwide.

All parties will make use of one another’s talents and skills to lessen range anxiety and improve Malaysia’s EV charging infrastructure in this bilateral agreement, which was formalized at the Malaysia Autoshow 2024 in Malaysia Agro Exposition Park Serdang.

Through this partnership, ChargeSini, one of Malaysia’s biggest EV charging alternative suppliers, will procure, place, and control the activity of EV charging stations at strategic locations across Sunway’s included townships and developments nationwide. Huawei Malaysia may act as the tech consultant throughout the development process and give after-sales service support.

Yeoh Yuen Chee, the CEO of Sunway Trading and Manufacturing, stated,” Sunway is pleased to mate with Huawei Malaysia, once more, and ChargeSini to create and produce EV getting channels more visible and accessible throughout the country.”

He added that both public and private sectors have a role to play in Malaysia’s regional goal to set up 10, 000 EV charging channels by 2025, as outlined in the Low Carbon Mobility Blueprint (LCMB) 2021- 2030. In this situation, Sunway is determined to advance the green growth plan and realize our goal of achieving net zero emissions by 2050. We are convinced that this relationship will help to shape a more responsible and environmentally friendly potential, Yeoh said.

Chong Chern Peng, vice chairman of Huawei Malaysia’s Digital Power Business Department, stated that as a result of its development in the energy transition journey, Malaysia’s automotive industry is securing its place in the EV ecosystem. We want to work together to further strengthen this position and promote EV adoption in Malaysia through our charging solutions through our strategic partnership with ChargeSini and Sunway.

He continued,” Human Malaysia is committed to developing innovative sustainable solutions for a shared green future.”

Additionally, James Goh, ChargeSini CEO and Founder, stated that this partnership is a testament to our shared desire for a sustainable future. We are committed to creating an effective EV charging network that will benefit local communities in Malaysia and beyond by leveraging Sunway’s advanced technology. This initiative demonstrates our commitment to promoting sustainable urban development and reducing carbon emissions. Together, we fuel the Malaysia 2050 Net- Zero Mission”.

University of Nottingham Malaysia, CelcomDigi inks MoU to foster digital talents of tomorrow

By: Mary Blight

On: May 29, 2024

In: Technology

aims to give individuals the knowledge they need for the coming modern era.
Both events to create AI, Industrial XR/Metaverse answers

Left to Right: Professor Ir Dr Mohd Shahir Liew, vice provost of Research and Knowledge Exchange at UNM, Professor Sam Kingman, interim provost and CEO of UNM, Joachim Rajaram, chief corporate affairs officer, CelcomDigi, Nik Naharudin Bin Mohd Nasir, director Digital Talent and Entrepreneurship; Digital Industry Acceleration Division of MDEC.

The University of Nottingham Malaysia ( UNM) has signed a Memorandum of Understanding with CelcomDigi Berhad as part of nation-building attempts to foster and develop the digital abilities of tomorrow.

The multi-year partnership, according to the university, aligns both parties on a mutual collaboration to develop Artificial Intelligence ( AI ) and Industrial XR / Metaverse solutions and capabilities, from unlocking innovative tech-driven education experiences for UNM students to improving internal employee and operational processes.

In addition to Professor Ir. Dr. Mohd Shahir Liew, vice president of Research and Knowledge Exchange at UNM, and Nik Naharudin Bin Mohd Nasir, director of Digital Industry Acceleration Division of Malaysia Digital Economy Corporation ( MDEC ), Professor Sam Kingman, interim provost and CEO, and Joachim Rajaram, chief corporate affairs officer of MDEC, witnessed the signing of the MoU.

The MoU has outlined numerous creative work over the course of the three-year relationship to the benefit of both students and employees. In order to create options and functions for the company’s internal XR and Metaverse, CELCOMDigi and UNM will work together. These solutions are anticipated to further increase operational efficiency while enhancing the individual expertise. &nbsp,

CelcomDigi, through its in- home built options, has seen benefits from the implementation of AI and will now work with the school to more boost these solutions. From an education standpoint, both parties may seek to explore combining workshops, practical education, and business opportunities, empowering UNM students to participate in apprenticeship and function placement programmes at CelcomDigi.

Both events will work toward the establishment of CelcomDigi as a one-stop-center for UNM’s communication solutions and managed services partner in order to help 4G/5G/Direct Internet Access, WiFi, and a software-defined wide area network across the school and student-teacher area businesses. Both parties may look into possible ways for reskilling and upskilling opportunities for CelcomDigi employees as part of the wedding of CelcomDigi as one of UNM’s formal corporate partners, such as in micro-credential courses and part-time graduate degree programs.

Professor Sam Kingman emphasized the importance of securing future digital talent, saying,” Our collaboration with CelcomDigi opens doors for our graduates to practical learning with a leading industry giant, either through internships or employment opportunities after they graduate. We are also excited about the potential for immersive learning experiences for our students as a result of the adoption of Industrial XR/Metaverse and AI technologies, as well as the opportunities to creatively reimagine the tertiary education experience. The future is now, and only by developing and empowering students can we secure their capabilities to meet digital demands of the future” .&nbsp, &nbsp, &nbsp,

Additional joint project opportunities include thought leadership engagements, ranging from examining how UNM research agendas can facilitate the adoption and application of AI technologies by tech companies like CelcomDigi to discussing how important it is for industry stakeholders to bridge the gap between academia and the workplace.

Here comes the UStril semiconductor industry, says Ajit Manocha CEO of SEMI

Here comes the US$1tril semiconductor industry, says Ajit Manocha CEO of SEMI

By: Mary Blight

On: May 29, 2024

In: Technology

A trio of disruptions are accelerating market to the trillion-dollar mark by 2030.
Desire Southeast Asia, including Malaysia, to work on getting more fabs built in place

Here comes the US$1tril semiconductor industry, says Ajit Manocha CEO of SEMI

Ajit Manocha, CEO and chairman of SEMI, made the remarks at Semicon Southeast Asia 2024, which was held yesterday in Kuala Lumpur, monday. Its swift development was fueled by a triple influx of modern disruptions, which is enabling it to reach the US$ 1 trillion marketplace size milestone by 2030.

Extraordinary business partnership may be required to realize this exponential rise in a time of unprecedented challenges.

Ajit outlined the three transformative waves fueling the industry’s trajectory: the Internet of Things ( IoT), Artificial Intelligence ( AI), and Quantum Computing. Ajit, who has served as SEMI ( Semiconductor Equipment and Materials International ) president for seven years, likes to give an example of how quickly the industry’s sales will increase. He said,” While it took about 50 times for semiconductor selling to reach US$ 500 billion, this trio of destructive forces is expected to double that number to reach US$ 1 trillion in just the next five decades.”

Here comes the US$1tril semiconductor industry, says Ajit Manocha CEO of SEMI

In the last ten years, the expansion was driven by the Internet. This generation is one of AI, and what you’re seeing now is only the tip of the iceberg, and that’s going to get this rise to US$ 1 trillion”, he boldly predicts.

If that does n’t impress you, consider his prediction for Quantum Computing’s impact on future sales. ” I think Quantum Computing is coming by the next decade, and it can take this industry to US$ 5 trillion by 2050″, he declared.

Although it may seem a stretch, management consultants McKinsey &amp, Co have calculated the projected US$ 1 trillion by 2030. The automotive industry will drive growth, with a CAGR of 13 % to 15 % between 2021 and 2030, while computing and data storage will experience the slowest CAGR growth from 2021 to 2030.

Our sector has been capturing high single-digit CAGR of 8 % for many years, Ajit noted, and some have even doubled that rate.

Here comes the US$1tril semiconductor industry, says Ajit Manocha CEO of SEMI

SEMI’s most recent World Fab Forecast lists 103 new 300mm and 200mm semiconductor fabs coming online across the globe between 2023 and 2027 to accommodate this explosive growth. &nbsp,

Ajit did warn that by 2030, an additional 50 fabs would likely be required to fully realize the digital transformation that the three disruptive waves predicted had already begun.

Thus, he urged that Southeast Asia, including Malaysia, need to get more fabs on shore.

He argued that” we need to have more hubs and redundancies to be better prepared for any disasters or pandemics.”

Here comes the US$1tril semiconductor industry, says Ajit Manocha CEO of SEMI

As for the geopolitical issues, Ajit, over the last six months, has been promoting the SEMI International Policy Summit ( SIPS), a gathering of policy makers around the globe with the top&nbsp, 60 to 70 semicon industry executives over the past 8 months. The first meeting was in Hawaii, with the second, last week, in Brussels. This December, the next meeting might take place in Tokyo.

No single company, no single nation, no single CEO can solve the problems that are so challenging, he explained, and the frequency of the meetings is to address them.

This requires a partnership of governments, academia, industry and civil society working together. ” Therefore, I urge Malaysia to be a part of SIPS. It should play an active role in it”, he said.

MOF’s KMP invests in Malaysian computer vision startup, Evlos

By: Mary Blight

On: May 29, 2024

In: Technology

Unknown investment amount to scale the group and R& D to help growth
Evlos provides solutions for various industries ‘ AI-based quality assessment needs.

Shankar Ramanathan, founder and CEO of Evlos (top row, 2nd from left) with his team.

Kumpulan Modal Perdana ( KMP), a tech-focused venture capital owned by the Minister of Finance ( Inc ), announced last week that it had invested in Evlos, a provider of end-to-end computer vision solutions for automated quality inspections. KMP has joined Evlos as its most recent investment, and the money will be used to strengthen its workforce to support its development trajectory.

Evlos, a company founded and developed in Malaysia, has a core goal: to enable companies to fully automate and simplify their excellent control (QC ) inspection process. Through their cutting-edge zero-code computer vision software and automation equipment, the company has a key focus. By lowering labor costs and improving accuracy and reliability, Evas ‘ advanced options can significantly help businesses that still rely on manual labor for QC monitoring of their products and materials.

Shankar Ramanathan, CEO of Evlos, shared, “KMP’s money as well as its experience and extensive system in Malaysia, it serves as a bible to KMP’s faith in our possible, validating our difficult work. We are dedicated to promoting proper business growth and providing high-quality computer vision and robotics technology to help Malaysia’s manufacturing sector improve their quality control. We even look forward to providing more Business with our powerful solutions so they can grow their businesses without sacrificing quality. We are appreciative of KMP’s help, and we hope that additional money will help us advance.

Cedar Technologies Sdn Bhd was established in 2019 as Cedar Technologies Sdn Bhd, and it just received an Evlos Sdn Bhd rebrand in 2022.

Evlos creates its end-to-end solutions in-house, from designing to manufacturing to software using the Evlos Vision software, which is integrated with real-time analytics to investigate precise detection during the production of complex products. Evlos stands out in the market by providing top-of-the-line solutions without sacrificing value, along with its distinctive 24/7 sales support.

KMP is “excited to be supporting such an innovative business &nbsp, and to be a part of an organization leading the development of complete solutions for quality assessment technology across fields,” said Yarham Yunus, CEO of KMP. We are the only company in the market to provide a fully integrated in-house remedy for high-quality examination automation at a reasonable price, which is where we think Evlos has the potential to expand. Our goal is to enable the Evlos staff to grow alongside their company in the upcoming times.

With the global fault detection business projected to grow by 6.6 % Rate by 2027, Evlos says businesses are beginning to realize how defect detection can help reduce manufactured goods ‘ defects, resulting in a decrease in both costs and resources.

Evlos provides no-code, AI-powered system vision solutions with a large, comprehensive collection of tools for a variety of use cases appropriate for all industries.

Mary Blight (Page 35)