Malaysia unveils 3-phase US.3bil National Semiconductor Strategy to strengthen position in all-out global semicon war

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  • 3- step plan backed by US$ 5.3bil in governmental support and qualified opportunities
  • Walk up&nbsp, into higher- finish manufacturing, style, packaging, and equipment

Prime Minister Anwar Ibrahim declared Malaysia's intention to cement its position as a leading international hub for semiconductor manufacturing, and innovation while aiming to build a strong base in chip design.

The Malaysian government today unveiled its comprehensive three-phase plan, supported by US$ 5.3 billion ( RMRM25 billion ) in fiscal support and targeted incentives, in an ambitious move to advance the nation’s position as a leader in the semiconductor industry over the next ten years. &nbsp,

Prime Minister Anwar Ibrahim unveiled the action at the SEMICON SEA 2024 meeting in Kuala Lumpur now, laying out Malaysia’s intentions to strengthen its position as a leading global hotspot for semiconductor manufacturing and development while aiming to establish a solid foundation for chip style.

Anwar’s news comes in the wake of Yoon Suk Yeol, the president of Sought Korea, who last week described the world’s semiconductor market as an “all-out war” to capture the fruits of what is expected to be a US$ 1 trillion marketplace by 2030.

US$ 19 billion ( RM89.2 billion ) support package with 70 % focused on helping homegrown SMEs in the semiconductor supply and value chain.

Anwar emphasized the crucial role of a tenacious and developed global semiconductor supply chain while recognizing Malaysia’s solid foundations as the country’s 6th-largest exporter and 10th-largest consumer of electrical and electronics goods. &nbsp,

Highlighting its outsourced semiconductor assembly and test ( OSAT ) specialization, Anwar also spelled out Malaysia’s intentions to move up the value chain into higher- end manufacturing, design, packaging, and equipment.

” The NSS is a strong, agile, equitable, and forwards- considering strategy designed to foster collaboration with companies across ASEAN, Asia, and the world stage”, Anwar proclaimed. A robust multinational semiconductor production is still necessary for humanity, despite geopolitical dynamics, especially as our time is running out in our efforts to combat climate change and mitigate risk.

Reflecting Malaysia’s increasing strategic position, Penang, Asia’s Silicon Island, attracted a record RM61 billion &nbsp, in semiconductor FDI last year- exceeding its combined FDI of the previous seven years. This includes Intel’s RM30 billion investment in a new fabrication facility.

]RM1 = US$ 0.212]

Anwar reaffirmed that while proud of our OSAT accomplishments, we have strong potential to expand further into the value chain, underlining the NSS’s strategy to foster an ecosystem supported by dynamic Malaysian businesses and world-class talent working with global industry leaders.

The ambitious NSS was created as a result of a collaboration between the Ministry of International Trade and Industry ( MITI), its agencies, and a number of other ministries. It has been organized into a three-phase plan. Phase 1 focuses on” Building on Our Foundations” by leveraging Malaysia’s existing industry capacity and capabilities. &nbsp,

This includes modernizing OSAT services with advanced packaging, expanding trailing- edge chip fabrication and power chip production, and developing local chip design champions. Phase 2, dubbed” Moving to the Frontier”, will pursue cutting- edge logic and memory chip design, fabrication, testing, and integration with major chip buyers. &nbsp,

Anwar expressed confidence that Phase 1’s successful implementation will encourage the best-known advanced chip manufacturers to start operations in Malaysia. The third and final phase,” Innovating at the Frontier”, aims to develop world- class Malaysian semiconductor design, advanced packaging, and manufacturing equipment firms while attracting cutting- edge technology giants like Apple, Huawei, and Lenovo to pursue advanced manufacturing in the country.

Five overarching goals that the Malaysian government has set serve as foundation for the NSS:

  1. Secure at least RM500 billion in investments for Phase 1, driven by domestic direct investments in IC design, advanced packaging, and manufacturing equipment, coupled with foreign direct investments in wafer fabs and semiconductor equipment.

  2. Establish at least 10 Malaysian businesses in the advanced packaging and design industries, each with a revenue range of RM1 billion to RM4.7 billion by Phase 2. There are envisioned a further 100 local businesses that are related to semiconductors and have revenues in excess of RM1 billion.

  3. Position Malaysia as a globally- recognized R&amp, D hub for semiconductors, bolstered by world- class universities, corporate research centers, and centers of excellence that blend top Malaysian and international talent.

  4. In the next five to ten years, train and advance a highly skilled semiconductor workforce that includes 60, 000 Malaysian engineers.

  5. To ensure the NSS’s successful operation, allocate no less than RM25 billion in fiscal support and targeted incentives.

Overall, the NSS is spearheaded by the National Semiconductor Strategic Task Force ( NSSTF ) under MITI’s oversight, with CREST serving as the strategy’s secretariat. While maintaining Malaysia’s core aspiration, which is” a major global player in accessible technology for everyone, powered by our semiconductor industry,” Anwar emphasized that the NSS will continue to be a “living document” that constantly evolves in response to changing industry and market conditions.

Malaysia’s positioning as a neutral, non-aligned territory that can support a distributed and diversified semiconductor supply chain helps to mitigate geopolitical risks and vulnerabilities, underpin the national strategy. Anwar emphasized Malaysia’s willingness to cooperate and make investments from all over the world in order to advance this crucial industry as a whole.

” Today, I offer our nation as the most neutral and non- aligned location for semiconductor production, to help build a more secure and resilient global semiconductor supply chain”, he declared, calling for support from industry stakeholders within Malaysia and internationally.

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KWAP allocates US.28bil for private capital investment via Dana Pemacu

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  • Identifying vital economic sectors and impact-related topics under the Ekonomi MADANI
  • 50 % may be Shariah- focused, unlocking Muslim capital investment, create greater effect

Minister of Finance II Amir Hamzah Azizan (4th from left), officiated the launch of Dana Pemacu with Nik Amlizan Mohamed (3rd from left), CEO of KWAP and other executives.

Malaysian Anwar Ibrahim announced today that Kumpulan Wang Persaraan ( Diperbadankan ) ( KWAP ) will invest US$ 640 million ( RM3 billion ) in Shariah compliant investments, making up 50 % of the total Dana Pemacu capital commitment of US$ 1.28 billion ( RM6 billion ). Anwar gave a speech at Kuala Lumpur’s International Forum on Islamic Economics and Finance.

Dana Pemacu will be a Malaysia- focused personal equity investment strategy, targeting key financial sectors including food security, education, gold economy and healthcare, energy transition, modern economy, financial inclusion, and other impact- related critical themes under the Ekonomi MADANI framework.

In partnership with local talent and renowned international investment managers across three distinct asset classes: private equity, infrastructure, and real estate, Dana Pemacu will be executed using Separately Managed Account ( SMA ) funds.

” The government’s broad reform, which includes the introduction of Dana Pemacu by KWAP, is in line with the government’s plan to maximize GLIC administrative funds to encourage investments in high-growth Indonesian companies, thereby supporting efforts to raise the roof under the MADANI platform. Amir Hamzah Azizan, the minister of finance II, officiated the release of Dana Pemacu, adding that Dana Pemacu’s collaboration with domestic and international funding professionals may help improve Malaysia’s secret industry ecosystem.

The RM6 billion funding commitment will be made using standard and Shariah-compliant SMAs, with 50 % being Shariah-focused. This will increase the potential of Muslim equity capital in improving the overall exclusive markets and promoting social and socially responsible investing opportunities.

” We think that Dana Pemacu is instrumental for the growth and progress of the country,” said Nik Amlizan Mohamed, CEO of KWAP. Our intention is to use this money to fund the development of partnership models between local talent and international fund managers, which will help to establish the Malaysian private market investment ecosystem. Additionally, this initiative will promote industry networking and knowledge transfer as well as bringing global best practices and expertise to the local market.

Nik added that the newly launched capital investment supports KWAP’s aspirations to support more local businesses to expand both domestically and internationally through both conventional and Shariah-compliant channels. This ultimately strengthens the financial markets and promotes the development of local talent in Malaysia.

The move also supports Malaysia’s pursuit of transforming its industrial sector to be more competitive, sustainable, and inclusive under the NIMP 2030 plan of the MADANI Economy, through financing projects related to private equity, infrastructure, and real estate sectors.

With Dana Pemacu as its investment strategy, KWAP said it is still working to ensure the fund’s best returns in order to help the government with paying its pension liabilities.

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Digital Edge partners Donghwa ES to develop innovative energy storage technology for data center redundancy

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  • A future-proof alternative to conventional chargers was developed in partnership by both companies.
  • Established solutions for improved data center security, environmental sustainability

Digital Edge partners Donghwa ES to develop innovative energy storage technology for data center redundancy

Digital Edge ( Singapore ) Holdings Pte. A next-generation energy storage system developed by Donghwa ES, a South Korean-based engineer of next-generation energy solutions for hyperscale facilities, has been collaborated with Ltd., one of Asia’s fastest-growing data middle platforms, to create a system that redefines data center redundancy and conservation. The company stated in a statement that the Hybrid Super Capacitor Energy Storage System offers a viable alternative to conventional batteries and has the potential to transform data centre ancillary power generation for upcoming AI and hyperscale loads.

The data centre business today depends on lithium-ion batteries or lead-acid batteries for backup generators and Uninterruptible Power Supplies, the essential tools that enable operators to keep availability in the event of a strength failure to the grid. The data centre market is under increasing pressure to improve energy efficiency and decrease the firm’s carbon footprint as demand for higher energy density deployments rises, fueled by the rapid increase of AI and cloud providers.

Both businesses have collaborated to develop a future-proof alternative to traditional batteries in search of more dependable and responsible energy storage. They do so by combining Digital Edge’s data centre operations experience with Donghwa’s energy storage system engineering and design skills. The two organizations have collaborated to create the HSC Energy Storage System systems. Preliminary testing has been successful, and Digital Edge has confirmed its intention to use this technology in a number of newly constructed data centers.

In contrast to other systems, the HSC technology uses a hybrid power store technique that combines activated carbon from an electrical double-layer battery with coal from a lithium-ion power to create a option that lessens the bad electrode’s degeneration. The HSC’s ability to operate for a longer period of time, with the projected replacement cycle lasting nearly 15 years, or nearly 2.5 times more than additional battery products, is significant savings for the overall cost of ownership.

Critically, the HSC is designed to withstand many higher temperatures than conventional chargers up to 65°C, preventing users from saving energy by not needing to cool the products. This position makes the HSC well-suited to support energy-intensive AI and high power density deployments that necessitate difficult liquid cooling as well as help wider conservation initiatives across the data center industry to gradually raise operating temperatures and reduce carbon emissions.

Additionally, the HSC can be quickly recharged, allowing it to effectively deal with numerous consecutive power outages in a data center. In addition, it does not utilize metal oxide, meaning the risk of fire due to thermal runaway is fundamentally eliminated, thereby significantly reducing potential fire hazards.

According to Jay Park, chief construction and development officer for Digital Edge,” We want to be more than just a data center operator; we want to be a leader that continues to innovate and establish new standards that will elevate the entire industry.” Our customers value redundancy, so we set out to find ways to improve the technology that is currently at the heart of this. The HSC Energy Storage System, which we are proud to have developed in partnership with Donghwa, will help to improve the reliability and safety of the data center industry while also supporting our environmental goals, he said.

Meanwhile, Ji- Won Suh, CEO, Donghwa ES said,” Donghwa ES designs and manufactures next- generation energy storage systems and power solutions for hyperscale data centers. Power-intensive data centers are expanding rapidly as a result of AI’s rapid advancement. In the increasingly power-intensive data center industry, our goal is to guarantee complete protection from potential incidents caused by thermal runaway. We hope to establish a new energy storage system standard for the global data center industry through our partnership with Digital Edge. In particular, we intend to work together to install energy storage systems in the Asia-Pacific region, which is experiencing the fastest growth in the world, to create hyperscale data centers, he said.

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Commvault welcomes Gareth Russell to new APAC-wide security role   

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  • tasked with assisting organizations in improving their computer resilience
  • brings a wealth of knowledge to the position in modern transformation and cybersecurity

Commvault welcomes Gareth Russell to new APAC-wide security role   

Commvault, a leading provider of data protection and cyber resilience solutions for hybrid cloud organisations, has announced the appointment of Gareth Russell ( pic ) as field chief technology officer, Security for Asia Pacific ( APAC ). In this newly created position, the company demonstrates its commitment to extending its strong technical expertise in cyber resilience and data security to more customers and partners in the region, which is essential in the age of ransomware.

A trained security senior, Russell brings years of extensive experience in computer plan, risk management, cyber resilience, and digital transformation to Commvault in the APAC region. With a proven track record of helping companies and institutions across Asia Pacific define and manage their digital risk exercises, Russell has considerable experience in implementing, transforming, and operating features, including embedding computer security into operational culture.

” I’m excited to bring my expertise to Commvault, particularly at a time when cyberrisks are becoming more prevalent in our area. My main goal will be to improve cyberresilience techniques, as well as assisting businesses in APAC in strengthening their healing capabilities. These times, when it comes to attacks, it’s not a matter of if but when, and I look forward to working with companies to improve their computer readiness and preparedness”, Russell said.

Critical gaps in cyberattack recovery efforts across APAC organizations have been identified in the recent State of Data Readiness market analysis by Commvault &amp, Tech Research Asia.

The region’s rates of cyber resiliency maturity are still low, according to the report. The data also demonstrates that cyberattacks continue to be prevalent, with many businesses still vulnerable to serious breaches, particularly those involving backups, production data, and secondary data. Of those organisations that experienced a cyberattack, only 35 % successfully recovered 100 % of their data. &nbsp,

Working with organizations to strengthen their cyber resilience strategy and aid them in preventing this growing frequency and sophistication of cyber threats is a top priority for Russell’s new position.

” We have made significant progress in recent months in assembling a senior team with unmatched skills and experience.” Gareth’s appointment furthers the expertise we can provide to our customers and partners as they work to keep their data safe and secure”, said Martin Creighan, vice president, Asia Pacific, Commvault. &nbsp,

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Equinix’s USmil dual metro data centers propel Malaysia’s digital economy ambitions

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  • exposure to international ecosystems via network- and cloud-deployed digital infrastructure
  • US$ 40m expense helps M’sia technology- up swiftly into&nbsp, online vibrant nation

The newly opened JH1 in Johor, Malaysia.

Equinix, Inc has opened two International Business Exchange ™ ( IBX® ) data centers in Johor ( JH1 ) and Kuala Lumpur (KL1 ). These carrier-neutral facilities, according to the digital facilities company, create a powerful digital infrastructure in Malaysia to support its goal of a digital economy.

A network-dense, cloud-adjacent, and on-demand digital equipment is a necessity as businesses continue to embrace modern transformation and cutting-edge technology like AI.

Platform Equinix ® plays a pivotal role as a facilitator of innovation, economic growth and empowerment for businesses to flourish in Malaysia, hosting more than 2, 000 networks and 3, 000 cloud &amp, IT companies, and partnering with global technology leaders. Importantly, information, finance, gambling and AI companies have now chosen to build their IT system on Platform Equinix in Malaysia. In addition, Day, Maxis, and various leading global and local community services providers have now joined Equinix’s system ecosystem in Malaysia to provide customers with Platform Equinix a highly interconnected and safe environment.

Jeremy Deutsch ( photograph ), President, Asia- Pacific, Equinix, said,” Malaysia is a core business and best location that is very sought after by our important clients. Our unwavering support for the Southeast Asian region demonstrates our belief that it has the ability to drive electric transformation and accommodate a growing digital-savvy population.

Equinix’s US$40mil dual metro data centers propel Malaysia's digital economy ambitions

Equinix’s entry into Malaysia even aligns with the Indonesian government’s 2021 MyDIGITAL initiative, which aims to lay out a plan for the country to accelerate the development of digital goods and services.

Zafrul Abdul Aziz, Malaysia’s Minister of Investment, Trade and Industry ( MITI), said,” Equinix’s decision to expand its presence here reflects its continued confidence in Malaysia’s industrial landscape, which is undergoing key transformative initiatives as outlined in the New Industrial Masterplan ( NIMP ) 2030. One of NIMP’s missions is for Malaysia to tech- away quickly to make us a online attractive nation, and Equinix’s fresh data centers in Kuala Lumpur and Johor will support this mission by enhancing Malaysia’s electronic infrastructure. The most important outcome of Equinix’s purchase is that it will help to create high-quality employment opportunities and spur economic growth, empowering our citizens and businesses to thrive in the modern age.

This venture further underscores our commitment to creating an investor-friendly business environment, according to Sikh Shamsul Ibrahim Sikh Abdul Majid, Chief Executive Officer of Malaysian Investment Development Authority ( MIDA ). The innovative data centers from Equinix will offer important opportunities for local businesses, particularly those that are nearby, to innovate and develop as they integrate with the global ecosystem.

Essential Information

  • The two- story JH1 facility is situated at Nusajaya Tech Park (NTP ) in Iskandar Puteri, Johor. This information center, carefully located 15 km from Singapore, will meet the growing demand from both local businesses and those operating in neighboring areas.
  • With an initial investment of US$ 40 million, JH1 provides up to 500 cabinets and 1, 800 square meters of coworking area to bolster the government’s modern development.
  • The KL1 facility, located in Cyberjaya, Kuala Lumpur, a key part of the Multimedia Super Corridor in Malaysia, is expected to provide a total of 900 cabinets and colocation space of 2, 630 square meters, once fully built out.
  • Equinix data centers in Malaysia are 100 % covered by renewables. Equinix’s efforts to incorporate clean renewable energy sources into its global operations are on track to achieve climate neutrality by 2030. This initiative extends to all facilities, whether newly constructed or recently incorporated into the company’s portfolio. In 2023, Equinix achieved 96 % Renewable Energy coverage across its global operations.
  • Both JH1 and KL1 will operate effectively in accordance with the A1A standards established by the American Society of Heating, Refrigerating, and Air-Conditioning Engineers ( ASHRAE ). This will help customers reduce their Scope 3 carbon emissions while improving the overall effectiveness of the data centers, as per Power Usage Effectiveness ( PUE) measurements.
  • Equinix will provide robust interconnection and digital services at JH1 and KL1, including Equinix Internet Access in both locations in Q2 2024, Equinix Fabric® and Equinix Fabric Cloud Router in JH1 in Q2 2024 and KL1 in Q3 2024, and Equinix Internet Exchange ® ( IX ) soon after. These services enable seamless connectivity, enhanced scalability, optimized performance and increased flexibility to empower businesses to thrive in today’s rapidly evolving digital landscape.

The generator that keeps the lights on.

The UPS that ensures uninterrupted operations for customers.

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Powerwell secures US.24mil data centre electrical solutions order

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  • Highlight Powerwell’s contribution to Malaysia’s and SEA’s rapidly expanding data center field
  • By 2025, Malaysia’s objective of becoming an Asian Digital Tiger aligns with the company’s.

Powerwell is benefiting from the ripple effect of opportunities for local suppliers and service providers in the data centre sector.

Powerwell Holdings Bhd, a global leader in electronic options, has announced purchases worth US$ 12.24 million ( RM 57.61 million ) from a global technology company, according to Bursa Malaysia. This offer, secured by its utterly- owned company, Powerwell International Sdn Bhd, underscores Powerwell’s important position in the rising data center sector in Malaysia.

The order orders, dated May 24, 2024, encompass the source, installation, and commissioning of minimal- voltage switchboards and distant power panels for a higher- profile data centre project in Selangor. This initiative is expected to significantly improve Powerwell’s consolidated earnings and net assets for the fiscal year ending March 31, 2025 ( FY2025 ).

Catherine Wong, Powerwell’s professional director, &nbsp, said,” This deal reflects the confidence and consistency that big tech players position in Powerwell and positions us at the vanguard of Asia’s quick- expanding data centre market. We are dedicated to providing quality and creativity, ensuring the successful completion of this project on time.

The Malaysian information center market is growing rapidly. New advancements in the area, including significant investments by international tech giants, strengthen Malaysia’s ability to become a primary data center hub in Asia.

The nation received RM76 billion ( US$ 16 billion ) worth of investments from its data centres between 2021 and March 2023, and its statistics middle market is expected to bring more opportunities.

Recent developments include NVIDIA Corporation’s announcement at the end of last year to work with YTL to create a US$ 4.3 billion Artificial Intelligence ( AI ) cloud and supercomputer infrastructure. Lately, Microsoft has also committed to a US$ 2.2 billion purchase over the next four years, the largest in its 32- yr history in Malaysia, focusing on establishing a strong cloud and Iot infrastructure to support Malaysia’s digital ecosystem.

” These investments by global tech giants enhance the technological landscape in which Powerwell is a business and also have a positive impact on local suppliers and service providers in the tech sector. Powerwell is strategically positioned to significantly contribute to Malaysia’s transition toward a highly developed digital economy by leveraging cutting-edge technology and extensive expertise in electrical solutions for data centers,” Catherine&nbsp, added.

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AEON Bank launches as first Islamic digital bank in Malaysia

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  • introducing private banking services before advancing to small companies
  • Items can be converted to cash and credited to company’s AEON Bank profile

(L2R): Mahmood Merican, Secretary General of Treasury, Ministry of Finance; Raja Teh Maimunah, CEO of AEON Bank; Daisuke Maeda, Non-Independent Executive Director of AEON Bank & Chairman of AEON Credit Service (M) Bhd; Naoya Okada, Managing Director of AEON Co (M) Bhd.

AEON Bank ( M ) Bhd announced its public launch on 26 May, making its mark as Malaysia’s first Islamic digital bank. It joins GX Bank and Boost- RHB Digital Bank, and two more online businesses are yet to start. The consortiums of KAF Investment Bank and SEA Ltd.- YTL Digital Capital have not yet offered their service.
AEON Bank is starting off with personal banking services such as Savings Account-i, Savings Pots with customisable optimisation features, budgeting tools, with more to come in the future. Users that activate their account will be able to immediately access their virtual AEON Bank x Visa Debit Card-i and request for their own physical Debit Card-i.

The trust that was placed in us to lay the foundations and establish Malaysia’s first entirely Muslim electronic bank is deeply humbled and honoured. After 40 years of operation in Malaysia, this is a major milestone for AEON Group in that state. Our goal is to provide all Malaysians with secure, streamlined, and equitable online banking options that are compliant with Shariah. We are still in the early stages of the product rollout process and will continue to add new features and products to our private bank customers. Over moment, we did increase our products and services to little firms”, said Raja Teh Maimunah, CEO of AEON Bank.

Customers who activate their accounts will also be eligible for a sign-up bonus of 3, 000 AEON Points and 3X AEON Points in addition to the company’s annual profit rate of 3.88 %. This promotion is exclusive to the public launch campaign.

Moreover, customers that are part of the AEON Points Programme may automatically include their membership linked with the AEON Bank app, which may help them to enjoy more benefits and rewards when they make payments at AEON Group’s outlets and merchants, including AEON Mall, AEON Supermarket, AEON Wellness, La Boheme Bakery, AEON Fantasy, and more, adding another layer of value and convenience for customers via the larger and complete AEON ecosystem. The customer’s AEON Bank account will then receive the earned AEON points in the form of cash.

During the launch, AEON Bank is anticipated to engage more than 10,000 AEON members and customers through on-ground activation, starting on June 2nd. Nationwide roadshows will run in Kelantan, Kuala Lumpur, Johor, Penang, Negeri Sembilan, Perak, Melaka, and Sarawak from June till November 2024.

The public launch took place at AEON Mall Shah Alam, with Johan Mahmood Merican, Secretary General of Treasury, Ministry of Finance as guest of honor. AEON leaders in attendance included Naoya Okada, MD of AEON Co. ( M ) Bhd, Shunsuke Shirakawa, Chairman of AEON Financial Service Co, Ltd, Japan, Mitsugu Tamai, Director and Managing Executive Officer of AEON Financial Service Co, Ltd, Japan, Daisuke Maeda, MD, AEON Credit Service ( M ) Bhd, and Tomokatsu Yoshitoshi, Chairman and Independent Non- Executive Director of AEON Bank ( M ) Bhd.

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Asia Mobiliti addresses allegations of improper conduct against it winning 9-month contract with Selangor state

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  • 2018 launched business forerunner in Demand-Responsive-Transit in M’sia
  • Opportunity to prove itself in arguably first of its kind state-program in Lake

The 2022 launch of DRT Mobility pilot by Asia Mobiliti. Founder and CEO Ramachandran Muniandy is 2nd from right.

Asia Mobiliti, a Malaysia Digital ( MD) status company has been subjected to a recent online campaign by certain unidentified parties that have casted doubts on the process by which we were appointed by the Selangor state government to operate Demand-Responsive Transit ( DRT ) service for the public.

Our appointment as one of two DRT service providers for the Selangor Mobility program was first announced at a public forum organised by the Selangor state government with Majlis Bandaraya Shah Alam ( MBSA ) and Menteri Besar Selangor Incorporated ( MBI ) on 15th June 2023. This was followed by the standard opening of the Selangor Mobility company logo and area statement at the Selangor Smart City & Digital Economy Convention ( SDEC ) on 20th October 2023. This session was likewise announced in our own press release at that time which was carried by several media companies and published on our site.

DRT is a ground-breaking technologies for public transport that enables on-demand expressed rides services with the use of clever, machine-learning algorithms to manage fleet dispatch and optimise vehicle routing to perform effective pick-up and drop-off of passengers headed to different destinations. Tickets are made via a customer application while drivers are guided by a vehicle app. Operating within a geofenced area, this provides for more effective and cost-effective primary- & last-mile customer services, freed from a fixed routine and fixed way of normal public transport solutions.

As the inventors of DRT in Malaysia with Trek Rides, we conducted a secret captain of the company in September 2021 in Petaling Jaya for appropriate partners and clients which was commonly reported next. Following the successful pilot and the validation of use, we were the first to be licensed by Agensi Pengangkutan Awam Darat ( APAD ) to operate a ‘bus-on-demand ’ service in December 2022 and remain the only company with a made in Malaysia system, designed and developed by our Engineering & Technology team as part of our Mobility-as-a-Service ( MaaS ) platform, Trek.

Aside from Trek Rides, the platform consists of various proprietary and revolutionary products including a attached vehicle system, drive-by condition monitoring systems for railway tracks and road surface, an IoT connectivity platform, a transit data feed service consumed by a worldwide mapping client based in the Netherlands, a data analytics tool for city-wide mobility insights, and a bidirectional journey planning and ticketing engine that connects all modes of transport in a city.

Founded in 2018, we are a proudly Malaysian startup co-founded by Premesh Chandran and Ramachandran Muniandy that have since earned global and regional recognition, among which includes the Newton Ungku Omar Fund Grand Challenge 2019 winner; a global semi-finalist for Toyota Mobility Foundation’s 2020 CATCH challenge; a global Top 150 semi-finalist for X-PITC H 2021; sole Malaysian representative in the Entrepreneurship World Cup Global Finals 2022; Trek Rides recognised as a global Top 100 solution in the 2023 AcceliCITY Resilience Challenge; winner of the Carsome Mobility Lab accelerator program which was the first auto ecosystem-focused accelerator in Southeast Asia; and most recently, selected into the 100Soonicorns program consisting of technology startups in Malaysia with the potential to be a unicorn.

Our support of the Selangor Mobility program underscores the need for ecosystem building and for strategic public-private partnerships without which it would be impossible for Selangor to be the first in Malaysia to provide DRT services to the public. Across the five zones which we operate ( four of which are for Selangor Mobility which began in November 2023 ), we are on track to achieve a record high of 14,000 ridership this month ( May 2024 ).

We regularly bid for tenders and like any other competitive business, we are successful with some and not so successful with others. Being a highly transparent and ethical business which is an extension of the personal values of our co-founders, we abhor collusion and anti-competitive practices by any party, especially government agencies and corporates.

In the context of the Selangor Mobility appointment process, we understand the reasons given for awarding two companies instead of one. An open tender in this situation of a highly specialised new service and with only two qualified companies in Malaysia would have created a monopoly situation in the state. This would have stifled competitiveness and robbed the opportunity for the state to pilot the service in a real-world setting and assess the performance of the service providers over a reasonable period.

It must be noted that the appointment is only for a period of nine months and required extensive investment from both service providers in terms of procuring vehicles, hiring drivers and continuous optimisation and development of the technology that powered the service. The state received the best value for its investment and provided the opportunity for two companies to prove themselves and design a new service for the state which is arguably the first of its kind state-program anywhere in Southeast Asia.

The success of the Selangor Mobility program has also led to Prasarana and the Ministry of Transport announcing the adoption of DRT as a replacement for conventional feeder bus services with RapidKL running a very successful pilot in May 2023 with Trek Rides in UM-Bangsar South which we continue to operate independently.

As a company committed to its responsibilities towards its clients and shareholders, we take these recent accusations seriously and will exercise our legal options where necessary in safeguarding our reputation and credibility. We view this as an unsubstantiated attack against a Malaysian technology startup.

We remain committed to our mission of improving mobility in cities of the developing world, beginning with Kuala Lumpur, with the use of cutting-edge technology and data. We will continue to invest into creating value in Malaysia and prove that good things can come out of Malaysia.

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Former HKEX BayConnect CEO and Hashkey CTO join MetaComp as CTO

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  • served for the Dalian Commodity Exchange as Head of Technology for 15 times.
  • Tasked with integrating bitcoin systems, expanding MetaComp’s system functions

Former HKEX BayConnect CEO and Hashkey CTO join MetaComp as CTO

Peter Luo ( pic ) has been named as MetaComp Pte Ltd’s new chief technical officer ( CTO ), a licensed entity under the Monetary Authority of Singapore ( MAS ). Luo brings a wealth of knowledge and a track record in modern technology, cryptocurrency, and money market techniques.

Luo founded the professional team at Wanxiang Blockchain and served as CTO and VP of Hashkey in 2017. He previously led the Dalian Commodity Exchange for 15 times as its head of the tech planning office and was in charge of the tech cooperation with Nasdaq OMX and NYSE Euronext. He then became the General Manager of HKEX’s BayConnect Technologies. &nbsp,

Luo’s visit comes at a crucial moment for MetaComp as the business strengthens and expands its custom Client Assets Management Platform. Luo will play a key role in integrating cutting-edge bitcoin technologies into conventional financial services systems and enhancing the platform’s capabilities to better serve MetaComp’s rapidly expanding client base.

Dr. Bai Bo, Chairman and Co- chairman of MetaComp, stated,” MetaComp is excited to bring Luo into the group. His extensive experience and proven leadership in conventional banking and cryptocurrency technologies make him the best person to help us advance our professional vision.

Our Client Asset Management Platform, which we believe will be the most advanced option for cryptocurrency technology, is constantly being improved. Luo’s knowledge will help us strengthen our complex base and provide customers with cutting-edge options as we continue to innovate and expand our services, he continued.

Luo continued,” I am delighted at this opportunity and look forward to developing more seamless technology to connect traditional world financial assets with digital assets and crypto. My efforts will be to keep us on the cutting edge of the rapid technological change that is happening.

To create a financial ecosystem where digital assets and conventional financial products coexist and complement each other, offering opportunities, growth, and innovation, MetaComp and its parent company, Metaverse Green Exchange Pte Ltd, are dedicated to the seamless integration of crypto finance and traditional finance.

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Alibaba Cloud announces new availability zones and global investment to fuel AI innovation

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  • New funding aims to strengthen cloud, AI item suite
  • collaborates with international institutions to give the next generation Artificial training

Selina Yuan, president of International Business at Alibaba Cloud Intelligence, announced Alibaba Cloud will Launch New Availability Z

Alibaba Cloud, the modern technology and knowledge foundation of Alibaba Group, announced its plan to launch its first sky region in Mexico, and to create additional data centers in its essential markets including Malaysia, the Philippines, Thailand, and South Korea within the next three years. &nbsp,

The company stated in a statement that the new investment to create cloud and AI infrastructure across key global markets aims to strengthen the cloud and AI product suite for its international customers while fostering global partnerships and AI talent development to foster future modern expertise.

At the Alibaba Cloud Global Summit in Paris, Selina Yuan, president of international business, said,” We are reinforcing our commitment to expanding our AI infrastructure and enhancing our cloud capacities globally.” ” Meanwhile, our digital talent initiatives, in collaboration with global universities and local partners in our key markets, will further equip the upcoming generation with the requisite AI skills”, she added.

Model Studio for International AI Development

Alibaba Cloud’s top generative AI development platform, Model Studio, will soon be accessible to international customers via its Availability Zones in Singapore to better enable enterprises and developers to develop AI models and applications.

Customers can use Model Studio to access Alibaba Cloud’s large language model Qwen family, which includes both closed-source and open-source models with multimodal capabilities and sizes that range from 0. 5 billion to several hundred billion parameters, to help develop custom generative AI applications. In the second half of the year, additional model fine-tuning and inferencing tools and services will be available, enabling the creation of more sophisticated AI tasks with greater cost-efficiency.

Enhanced Partnerships to Elevate Customer Experience

Alibaba Cloud announced it has strengthened its partnership with SAP in order to introduce a one-stop enterprise solution for small and medium-sized enterprises in Asia that will enable rapid deployment and on-demand expansion capabilities.

This integrated cloud-based business management solution is poised to give SMEs in Asia a powerful, scalable enterprise resource planning ( ERP ) system on the cloud without the need for significant initial investment in IT infrastructure by combining SAP Business One’s holistic business management capabilities with Alibaba Cloud’s scalable, secure, and cost-effective cloud infrastructure.

The new solution makes it easier for SAP Business One partners to quickly deploy the solution for their customers on the cloud by using Alibaba Cloud’s compute nest technology, which facilitates seamless integration of SAP Business One services with Alibaba Cloud. This synergy, it said, will empower SMEs to navigate market fluctuations with agility, optimize operational efficiency, and seize growth opportunities.

Alibaba Cloud announced it is developing a Salesforce on Alibaba Cloud training course in China in response to the growing interest and demand from multinational companies operating in the country. The exclusive course is designed for multinational corporations, focusing on how to use and master Salesforce CRM, as well as its integrated and localized features, and products that Alibaba Cloud supports and supports globally. Salesforce has helped multinational brands meet the distinct needs of the Chinese market while maintaining consistency for its global Salesforce products, including Salesforce Sales Cloud, Service Cloud, and Salesforce Platform, since Alibaba Cloud is exclusive access to Salesforce in China starting at the end of 2023.

The training program offers customized offline training to teach essential competencies and skills needed for an administrator position on the Salesforce platform and the Alibaba Cloud platform. The course, which is designed to be beginner-friendly, aims to help participants learn how to use the system and its localized features using Alibaba Cloud’s reputable cloud infrastructure. It improves participants ‘ ability to migrate and integrate seamlessly into the Salesforce ecosystem, resulting in better synergy and coordination in a global work environment. By the end of 2025, the program aims to provide over 10,000 participants with the necessary skills to master the Salesforce platform in China through a gradual rollout.

Digital Training with Global Education Institutes

A leading European corporate training provider, Demos Group, and Alibaba Cloud today announced a new partnership. The two parties will launch a suite of Alibaba Cloud online courses, focusing on cloud computing, data analytics, and AI, aimed at enhancing the digital competencies of Demos ‘ corporate clients ‘ workforce. Additionally, Alaba Cloud and OxValue are working together. AI, a deep- tech venture from the University of Oxford, to broaden the suite of Alibaba Cloud capabilities provided to end customers, including AI- driven valuation services.

Moreover, Alibaba Cloud is initiating collaborations with several international universities— University of Reading, Singapore University of Social Sciences, King Mongkut’s University of Technology Thonburi, Arovy University, University Saint Thomas Mozambique—to introduce cloud computing and AI courses with the aim to cultivate a new generation of AI experts.

Developing Effective Collaboration to Serve Global Customers

A growing number of international customers have chosen Alibaba Cloud for its reliable cloud computing capabilities and proven AI technologies, which are essential for their rapid digital transformation journey and the pursuit of AI innovation:

• Alibaba Group, the world leader in high-quality goods, and LVMH Group, the world leader in high-quality goods, announced an extended partnership to advance the level of luxury experience in China through the use of Alibaba’s cloud technologies through Tmall’s AI-powered innovations in the retail and online. In its pursuit of relentless innovation, LVMH has begun integrating Alibaba Cloud’s generative AI capabilities, including Qwen, Alibaba’s proprietary large language model, and Model Studio. This integration has made it possible to develop novel applications and services that demonstrate the luxury Maison’s commitment to staying at the forefront of innovation, utilizing cutting-edge technology to enhance its luxury offerings for global consumers, and encouraging innovation-led growth within its global retail businesses.

• Alibaba Cloud’s infrastructure was used by FathomX, a digital health AI company that is emerging from the National University of Singapore, to support its AI-driven breast cancer detection system. The partnership has resulted in a 27.6 % annual cost savings of infrastructure. This improvement in efficiency allows FathomX to expand its operations and provide cutting-edge healthcare solutions worldwide.

Since signing a strategic partnership last year, Alibaba Cloud has been assisting the International Canoe Federation in finding ways to measure and improve the sustainability of its events around the world. The ICF will expand the strategic partnership by looking into the potential of using Alibaba Cloud’s AI-driven ESG solutions to lessen the impact and carbon footprint at its events and coordinate sustainable activities to promote collaborative efforts.

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