Who's to challenge Silicon Valley, Shenzhen in AI? - Asia Times

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Artificial intelligence is emerging as a global radical power across the market in the 21st century, resulting in an unprecedented wave in technological developments. Important changes have been sparked by the inclusion of AI-based technologies into local economies through the production and design of goods like smartphones and wise speakers, which have resulted in higher efficiency, innovation, and economic growth.

Analysis has shown that the financial growth spurred by AI, like another high-tech waves, tends to focus on particular areas like the San Francisco Bay Area and the Washington-to-Boston Northeast Corridor, as well as Shenzhen, which is frequently referred to as China’s Silicon Valley.

In Silicon Valley, there are numerous AI startups in the cities of Shenzhen, Huawei and Tencent, and other leading global tech companies are located in lively technology ecosystems. The skill of AI-based technologies to enhance rather than replace individual features in these hubs has resulted in the creation of new job opportunities.

This suggests that areas that actively promote the development of these technologies are likely to experience a beneficial interaction between labor change and economic progress.

Systems and imagination

The industrial theorist Richard Florida makes two important points about provincial growth dynamics in relation to geographical growth that are related to AI-based technologies and local growth. Second, regions that want to grow economically need to get what he has coined the imaginative school: professionals, including but not limited to university professors, scientists and engineers.

Next, attracting those people is important because they possess creative money, or the ability to create new ideas, technologies, business models, social forms and whole new industries that can increase regional economies and lives. This implies that members of the artistic group are the primary force behind regional economic expansion and development.

How does AI fit into this well-established pattern of tech-led local creation that results in both winners and losers?

As local economy experts, my coworkers and I examined the application of AI-based systems and regional economic growth. By examining how AI-infused technologies benefit local economies and those producing creative goods over the long run, our analysis illuminates this crucial question.

A robot paints as people watch.
A machine painting show at a large- technology fair in Shenzhen, China, displaying artificial intelligence projects. Photo: Xinhua / Mao Siqian

AI and socioeconomic development

We focused on individuals using AI-based technology to create products like smartphones, automatic vehicles, and intelligent speakers in a fictional place that is representative of artistic hubs like Silicon Valley, Shenzhen, and the Toronto- Waterloo Corridor. These innovations enhance smartphones by including features like facial recognition, aid in the development of autonomous vehicles through AI-driven design and simulations, and make it possible for smart speakers and personal assistants to comprehend and respond to user commands using natural language processing and machine learning algorithms.

The use of AI-based technology enables creative people in a region to enhance the impact that their own creative capital, expertise, and talent have on the production of these goods. Our research indicates that a regional economy that is fueled by artificial intelligence will have a balanced growth trajectory, or the point where each creative person’s productivity is stable and positive.

How do initial variations in how creative regions use AI-based technologies affect long-term economic growth? What are the initial effects of the use of AI-based technologies in these cities on long-term economic growth, for instance, in San Francisco and Seattle?

Long- term growth

Consider two regions, A and B. Consider A as the Bay Area of San Francisco and B as Seattle. A and B can save twice as much as B does by investing in cutting-edge AI-based technology, and A also invests twice as much as B in developing its creative workforce’s skills.

Our research indicates that despite saving twice as much on AI and skill development as B, this small initial gap results in a 32-fold difference in long-term output per creative worker between the two regions. Simple put, even smallest variations in early savings rates can cause significant gaps in the creative person’s economic output over time.

Similar research also demonstrates that despite saving twice as much money as Creative Region B does to develop a more potent AI-based technology and skills, the two regions ‘ twofold differences in the long-run accumulation of skills per creative person are 64 fold different. Once again, the comparatively minor initial differences between the two savings rates result in a significantly greater impact on the long-term values of skills per creative person.

Some policy lessons

In terms of increased output and skills per creative person over the long run, taking steps now to create more powerful AI-based technologies is likely to result in significantly greater benefits for a given creative region like the Toronto- Waterloo Corridor in Canada.

Second, take into account a creative region that produces less and has less creative talent than another creative region. For such a region to advance, it will need to invest more in AI-based skills and technology.

Research shows that AI assets and capabilities in the US are concentrated in San Francisco, San Jose, New York, Los Angeles, Boston and Seattle. Without making specific investments in developing and improving AI-based technologies, the current highly skewed nature of US AI activity is likely to continue to result in significant amounts of high-skilled workers in some regions, while lower-skilled workers are likely to be left behind.

This influence is noteworthy, but it is also a double- edged sword. It promises to increase productivity and growth, but it also intends to widen the gap between creative regions that invest initial funds to advance AI-based technologies and skills ( currently coastal areas in the US) and those that do not in the vast American heartland.

Amitrajeet A. Batabyal is a renowned professor, the interim head of the Rochester Institute of Technology’s Department of Sustainability, and the Arthur J. Gosnell professor of economics.

The Conversation has republished this article under a Creative Commons license. Read the original article.

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WORQ and Sunway Putra Mall enter strategic partnership for new upcycled coworking space

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    Strengthens community of stretch- offices with 7th web-site on Transit- Oriented&nbsp, advancements

  • In M’sia, developing a future-of-work and flex-office facilities to provide remote work options

WORQ is steadily working towards connecting all of Klang Valley via Transit-Oriented coworking spaces.

WORQ, Malaysia’s leading working and wiggle room service, joined with Sunway Malls, one of Southeast Asia’s leading store groups, to demonstrate its latest coworking space, located in Sunway Putra Mall on the PWTC LRT train line. The page was opned on 25th March.

This stands as White Q’s eighth shop and its seventh shop in Klang Valley’s interstate travel rail system as it works to connect all of Klang Valley via Transit- Oriented coworking spaces and spans 20, 000 square feet of upcycled space.

Sunway Malls & Theme Parks ‘ Chief Executive Officer, HC Chan, stated,” Sunway Malls is committed to leading with conservation, and we are delighted with this strategic relationship with WORQ. Through our joint attempts at Sunway Putra Mall, WORQ has effectively demonstrated that intelligent renovations may both preserve the environment and increase profits. By reusing and repurposing existing fit-out, this effort also creates new standards for the lifetime of workplace spaces. This agreement is a sign of our common conviction that business success and environmental stewardship are comparable in fact.

There is a unique opportunity to leverage Indonesian human capital as the global workforce transitions to remote work by attracting more remote-work opportunities to our shores and encouraging global firms to get Malay. By providing carefully located stretch headquarters at Transit-Oriented Developments, the business is where work is done and jobs are created. Many of our coworkers are more effective then that they no longer drive, but instead do so while on the way to labor, in between sessions in the area, and on their way back home, according to Stephanie Ping, CEO and co-founder of WORQ.

(From the left): Andrew Yeow, Co-founder and CFO of WORQ, Clement Chen, CEO of Sunway REIT, Stephine Ping Co-founder & CEO of WORQ, Anthony Loke, Minister of Transport Malaysia, Dr. Prodyut Dutt, Group COO (Strategy and Development), Danny Lee, General Manager (Centre Manager) of Sunway Putra Mall.

This transit-oriented development ( TOD ) approach liberalizes real estate, reducing people’s dependence on cars while allowing them to move between various offices and locations. This is in line with the demands for flexible working arrangements.

By connecting workspaces with transit lines, WOR Q’s collaboration with Sunway Group and Prasarana Malaysia Bhd exemplifies Malaysia’s transition toward a transit-oriented community. This strategic action not only makes commutes more successful, but it also significantly improves the government’s sustainability goals by reducing vehicle dominance and improving employee well-being, according to Anthony Loke, Malaysia’s minister of transport who witnessed the announcement of the partnership with Sunway Malls.

WORQ claimed that it has established a unique cloud office infrastructure, enabling professionals to seamlessly move from one outlet to another, creating a dynamic and flexible work environment by linking these train lines with Google-like offices. With the help of this cloud-based office infrastructure, both local and international employers can quickly hire professionals from all over Klang Valley.

We applaud WOR Q’s commitment to creating a cloud-based workplace infrastructure that connects employees from all over the world. This perfectly reflects Prasarana’s commitment to making the Klang Valley’s use of public transportation the preferred mode of transportation. WORQ promotes the use of public transportation by liberalizing real estate and facilitating seamless transitions between outlets, according to Mohd Azharuddin Mat Sah, President and CEO of Prasarana.” By enhancing accessibility and flexibility, WORQ increases access and flexibility to meet the needs of the modern workforce.

Additionally, the project uses an existing space’s layout to creatively transform it into a contemporary coworking space. This exercise enables WORQ to capitalize on the location and ease of the mall by revitalizing existing infrastructure and spaces in Malaysia’s retail landscape.

Transforming malls with innovative space usage, sustainably

Due to the significant shift in real estate demand, malls are evolving in the post-pandemic landscape. These locations are being transformed into vibrant mixed-use projects that will be successful, and mall owners should capitalize on the growing need for community-oriented coworking spaces by working with established operators to create vibrant work environments that draw customers even on weekdays.

This shift to flexibility leads to an annual reduction of about 118 metric tons of carbon emissions and promotes recycling and reusing practices, facilitating effective office repurposing without extensive reconstruction.

Setting a sustainability standard and acting as a model for other coworking industry players, WOR Q’s facilities at Sunway Putra Mall feature high-quality, overstocked construction materials from HOMA. WORQ can use the location and convenience of the mall to revitalize existing infrastructure and spaces in Malaysia’s vast retail landscape.

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Pulsifi brings generative AI to its talent acquisition platform

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  • Strengthens its capability to offer science &amp, study- backed perspectives to enterprises
  • Give more information about the abilities and work experience needed for a particular position.

Pulsifi brings generative AI to its talent acquisition platform
 
On Pulsifi’s Talent Acquisition Platform, conceptual AI functions have been made available. The conceptual AI solution, which is supported by science and research, adds new capabilities that enable more powerful candidate insights and enhance the platform’s already-existing features.

The new generative AI solution, which has been made available globally since yesterday ( 8 April ) via the Pulsifi website, gathers perspectives and data to assist employers in addressing questions like: how to choose from among multiple applicants for a position based on a candidate’s fit score.
This new alternative marks Pulsifi’s foray into the world of relational AI to further improve the company’s quality in HR technology, especially, providing science and research- backed insights to enterprises. With the help of more than 50 years of client-based organizational psychology research and confirmation, Pulsifi’s AI is driven by data and knowledge.

options that are worldwide benchmarked and place a strong emphasis on people

Based on customer comments and the company’s employee performance information, Pulsifi, which was founded in 2017, claims that its remedies are benchmarked to international business requirements.

Pulsifi brings generative AI to its talent acquisition platform” At Pulsifi, we recognise that individuals are comprehensive, with different skills, experience, characters, interests and values. Businesses who value and exploit the multi-dimensionality of their employees find that these employees exhibit better work performance and satisfaction. Our research, for instance, demonstrates that businesses that use Pulsifi’s AI-powered analytics platform have seen significant performance improvements, according to Christine Sterk, chief business officer of Pulsifi Malaysia ( pic ).

” The platform’s predictive analytics, coupled with AI, boasts a 97 % accuracy rate in predicting culture and values fit, and an 81 % accuracy rate in predicting competencies and behaviors. For efficiency creates learning and development, cultivating a more aligned and coherent workforce”, Christine added.

While Pulsifi’s recent AI-driven insights provide framework and clarity, conceptual AI aids in deepening insights into the abilities and work experience needed for a distinct role, Christine said. ” All these person data factors work together to give organizations the ability to make more accurate and informed hiring selections.”
According to Pulsifi, businesses will gain from the fresh conceptual AI alternative by:

  • Understanding exactly how a candidate’s role-fit rating is determined by adding up their ratings for each job aspect.
  • having a quick view of a candidate’s performance in relation to the most crucial aspects of the work.
  • Accessing AI- backed part fit insights to get a quantitative analysis of the president’s role fit breakdown.
  • Having the ability to assess whether a candidate’s abilities are in line with those needed by the work.
  • obtaining more information about how well the candidate’s skills compare to those needed by the work by using a color-coded heatmap.
  • Understanding a president’s relevance to the part they are applying for is a matter of course.
  • Understanding a president’s previous work experience in relation to the experience needed for the position they are applying for and using AI to provide more context.
  • Having access to more detailed member information.

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TSMC is chasing a trillion-transistor AI bonanza - Asia Times

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The disaster that hit Taiwan on April 3 has slowed down TSMC’s semiconductor production operations, and the company’s revenue goal for 2024 has remained unchanged. The company’s companies were built with a high level of disaster weight.

Management is conducting a thorough analysis of the situation, but as it stands, we may take a step back and ensure that the 10-year plan for systems development that Chairman Mark Liu and Chief Scientist Philip Wong have in mind before being forgotten.

On March 28, IEEE Spectrum, the publication of the Institute of Electrical and Electronics Engineers, published an essay,” How We’ll Approach a 1 Trillion Transistor GPU”, which explains how “advances in electronics are feeding the AI boom”.

First, take note that Nvidia’s new Blackwell architecture AI processor combines two system-on-chip ( SOC ) limited to 104 billion transistor graphics processing units ( GPUs ) with a 10 terabytes-per-second interconnect and other circuitry in a single system-on-chip ( SOC). &nbsp,

Reticle-limited means only limited by the printing process’s ability to transfer pattern to silicon wafers at the largest possible size. In the upcoming century, TSMC hopes to increase the number of circuits per GPU by almost twofold.

The article begins with a review of the state of semiconductor production and unnatural intelligence:

  • The IBM Deep Blue computer that defeated world games hero Garry Kasparovs in&nbsp, 1997&nbsp, used&nbsp, 0.6- and 0.35- micron&nbsp, node&nbsp, systems.
  • The&nbsp, AlexNet&nbsp, neural network that won the ImageNet Large Scale Visual Recognition Challenge&nbsp, in 2012, launching the&nbsp, era of machine learning, &nbsp, used 40 nanometer ( nm ) technology.
  • Similar to the first edition of ChatGPT, AlphaGo’s program system used 5- mm technology, which defeated German Go Champion Fan Hui in 2015, to be implemented.
  • The Nvidia Hopper GPU, a refined type of the 4 mm method used by TSMC to create its president, is used to make Blackwell GPUs.

With the&nbsp, computation and memory&nbsp, capacity&nbsp, required for AI training&nbsp, increasing&nbsp, by orders of magnitude, Liu and Wong note that” If the AI revolution is to continue at its current pace, it’s going to need even more from the semiconductor industry” .&nbsp,

This will require not just moving to the 2- mm process network, which is scheduled for 2025, and then the 1.4- mm ( or 14A, A for particle ) network in 2027 or 2028, but likewise advancing from 2D ramping to 3D program integration:

” We are then putting together some cards into a firmly integrated, massively connected program. This is a paradigm change in silicon- technology inclusion”, say the two executives. They explain this as follows:

In the age of AI, the functionality of a system is immediately proportional&nbsp, to the number of circuits integrated into that program. One of the main drawbacks is that the reticle control, or no more than 800 square millimeters, has been established for printed chipmaking equipment. However, the included system’s size can now be increased beyond the reticle control of lithography.

We may integrate a system that can fit many more devices onto a larger piece of silicon than is possible on a single chip by putting some chips on top of a larger interposer, which is the silicon that interconnects are built into. For instance, TSMC’s&nbsp, device- on- wafer- on- material ( CoWoS ) technology can handle up to six reticle fields ‘ value of compute chips, along with a hundred high- throughput- memory ( HBM ) chips.

TSMC has previously used CoWoS in its shift from 7- nm&nbsp, to&nbsp, 4- m technology, putting 50 % more transistors in the same location for Nvidia and different customers. The HBM can be used with GPUs using a technology known as system-on-integrated chips ( SoIC ). &nbsp,

A large- badwidth memory chip consists of a stack of diagonally connected active random- access memory chips&nbsp, atop&nbsp, a control&nbsp, logic integrated circuit. According to TSMC, 12- layer HBM test structures have been created using&nbsp, 3D SoIC&nbsp, technology.

Next, we are told, optical interfaces based on silicon photonics” will allow the scaling up of energy- and area- efficient bandwidths for direct, optical GPU- to- GPU communication, such that hundreds of servers can behave as a single giant GPU with a unified memory” .&nbsp,

These developments, along with advancements in materials science, materials science, and fab equipment, should keep semiconductor systems ‘ energy-efficient performance ( EEP ) rising at a historical rate of about three times every two years. Energy efficiency and processing speed are both expressed in EEP. &nbsp,

If this sounds complicated, that’s because it is. Liu and Wong themselves say,” From here, semiconductor technology will get harder to develop”. But help is on the way in the form of 3Dblox, an open- standard 3D IC design system sponsored by TSMC, Intel, EDA companies Cadence, Siemens and Synopsis and engineering software company Ansys. They call this” A Mead- Conway Moment for 3D Integrated Circuits” .&nbsp,

In 1978, &nbsp, Professor&nbsp, Carver Mead&nbsp, of&nbsp, the California Institute of Technology and Lynn Conway&nbsp, of the&nbsp, Xerox PARC&nbsp, research and development company created a computer- aided design system that enabled engineers to design very large- scale integrated circuits without much knowledge of the semiconductor process technology required to make them. 3Dblox does the same for 3D ICs and packaging, say Liu and Wong, giving designers” a free hand to work on a 3D IC system design, regardless of the underlying technology” .&nbsp,

According to Liu and Wong,” an integrated AI system can be made of as many energy-efficient transistors as possible, have a suitable system architecture for specialized compute workloads, and have an optimal relationship between software and hardware in the era of artificial intelligence.” That sounds like AI- enabled design of AI processors, most of them made by TSMC. &nbsp,

Meanwhile, Taiwanese media report that most of TSMC’s manufacturing capacity is back on line. Buildings, some pieces of equipment and wafers in process were damaged, but the most important parts of the production lines, including the advanced ( and very expensive ) EUV lithography systems, were not. &nbsp, &nbsp,

To protect its operations from earthquakes, TSMC has been putting in what are known as seismic management measures for the past 25 years. As an indicator of their success, Taiwan’s DigiTimes reports that TSMC’s estimated loss from the April 3 earthquake, after insurance payments, is likely to be about NT$ 2 billion, or only US$ 62.2 million at the current exchange rate.

Follow this writer on&nbsp, X: @ScottFo83517667

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Navigating the job market: Challenges and advice for the employment ecosystem

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  • Mandatory internships does help graduates with their lack of work experience.
  • Collab with institutions, sectors &amp, governments may improve student employment practices

Navigating the job market: Challenges and advice for the employment ecosystem

Navigating the job market: Challenges and advice for the employment ecosystemIn today’s job market, many local graduates face difficulties transitioning from undergraduate to respectable job. Despite their credentials, a significant portion practice unemployment or underemployment. &nbsp,

Let’s examine these varied concerns and possible solutions.

1. Why do regional graduates have trouble locating positions that match their skills?

A significant factor is the persistent problem of knowledge incompatibility. Many graduates possess conceptual knowledge, but employers are looking for practical skills and work experience. Also, rapid technological advancements usually provide qualifications outdated, widening the space between schooling and industry needs. &nbsp,

The issue is made worse by the lack of networking opportunities and poor job advice. Graduates struggle to find employment and successfully market themselves to employers without the help of professional networks or advice.

The absence of work experience among graduates could be addressed by compulsory internship or apprenticeship programs. Moreover, college programs may strike a balance between theoretical knowledge and practical experience to better prepare students for the workforce.

2. Over skills or under?

Some graduates have to choose between being overqualified or underqualified for the jobs that are available. Some have credentials beyond entry-level needs, while people lack the necessary skills to meet changing business demands.

Employers may turn away from candidates with high-quality backgrounds because they fear they may rapidly transcend positions or demand higher salaries. In contrast, applicants with poor qualifications struggle to find employment in a field with specialized skills and experience.

Therefore, it is crucial to get advice before enrolling in a course to ensure that skills are still important after graduation. Private interests alone may not maintain employability. Additionally, universities should work with industry standards to avoid skill mismatches, perhaps by involving business advisors in college boards.

3. If first-time work offers be accepted by graduates?

Accepting the initial work offer can provide quick relief from employment forces, but it’s a choice that warrants careful thought. Graduates must consider the long-term effects on their job prospects.

Related career objectives or hobbies may prevent people from getting along and limiting their potential improvement. Instead, graduates really analyze job offers based on alignment with their beliefs, development potential, and opportunities for skill development.

4. What is the longer- word impact on the economy?

Significant and long-lasting effects are being caused by the skills gap between graduates and labour market requirements for both cultures.

High levels of student unemployment or underemployment also prevent innovation and productivity growth, as well as causing talent wastage. Underutilization or a lack of important skills in the workforce is hinder economic growth potential and impede competitiveness. &nbsp,

However, while the job economy offers tempting employment alternatives with pliable working conditions, it may unwittingly undermine traditional employment opportunities, affecting graduates ‘ long- term employability.

5. What does universities do to maintain greater employment?

To increase student employability, universities must prioritize both intellectual knowledge and practical skills. Working with industry partners may incorporate real-world experiences into the curriculum to ensure graduates are well-equipped for the labor.

Additionally, colleges should exercise greater prudence and forethought when preparing and planning their program offerings. Instead of just providing popular programs and training, they should also provide programs that have long-term advantages for both the students ‘ employment and society. This prevents an oversupply of alumni in some professions.

Also, universities should also participate in extensive career development services that provide students with guidance on job search strategies, begin writing, and interview preparation. Internship programmes, industry placements, and cooperative education initiatives can also provide valuable hands- on experience and industry connections.

Comprehensive career development services are essential, offering guidance on job search strategies, resume writing, and interview preparation. Internship opportunities are provided by cooperative education initiatives and internship programs, as well as industry placements and partnerships with NGOs like Pikom.

6. What is available to the government?

Governments can help address the difficulties faced by graduates who are employable. The gap between education and employment can be bridged by policy initiatives like incentives for industries to offer apprenticeships and vocational training programs. Graduates are taught relevant skills by investments in technology and emerging industries.

To provide graduates with alternative employment options, governments can also promote entrepreneurship and innovation ecosystems. Entrepreneurial initiatives like startup incubators, access to venture capital, and business support services can help graduates pursue entrepreneurial endeavors and aid in economic growth.

7. What are the potential uses for NGOs like Pikom?

By providing specific assistance and resources to increase graduate employability, NGOs like Pikom can complement government efforts. This includes skills development workshops, mentorship programmes, and job placement services tailored to the needs of graduates. Collaborations with universities, industry partners, and government organizations can increase the impact of NGO initiatives and foster the dissemination of best practices and knowledge.

8. Is graduates ‘ ( perceived low salary ) starting salary a deterrent to employability?

Graduates ‘ starting pay may have an impact on their employability, but that’s just one factor. While competitive pay can attract candidates, other elements like job satisfaction, career growth, and work- life balance also matter. &nbsp,

Employers should provide competitive salaries and other benefits, while graduates should take into account various factors when evaluating job offers.

9. What are some of the key elements that a graduate’s job offers?

  • A higher starting salary can attract graduates, especially those motivated by financial incentives. Companies that offer competitive salaries find it simpler to find top talent, especially in high-demand occupations.
  • The starting salary reflects the role’s perceived value and the candidate’s qualifications. Higher-paying positions are frequently seen by graduates as more prestigious or a sign of the employer’s commitment to their talent.
  • For many graduates, getting a job with a competitive starting salary is essential to maintaining financial stability. Making the job more appealing, thanks to a higher starting salary, lessens worries about student loan debt and living expenses.
  • According to research, employees who receive fair pay are more likely to be satisfied with their jobs and stay with their employers for the long run. Offering a competitive starting salary can increase retention rates and lower turnover costs, in turn.

In conclusion, addressing graduate employability challenges demands a collaborative effort among universities, governments, NGOs, and industry stakeholders. In order to promote entrepreneurship and innovation, aligning education with industry demands, and promoting robust career development support, can foster a more inclusive and resilient job market, enabling graduates to thrive and contribute meaningfully to the economy.

Woon Tai Hai is head of&nbsp, PIKOM Research Committee. He is also a past Chairman of the organisation.

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Thailand’s mobility marketplace WYZauto raises US$2.25m with Malaysia’s Vynn Capital as lead investor

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  • Signs initial investment from Vynn Capital’s fresh Mobility &amp, Supply Chain account
  • Southeast Asia’s auto repair industry has area for significant growth.

Thailand’s mobility marketplace WYZauto raises US$2.25m with Malaysia’s Vynn Capital as lead investor

WYZauto, Thailand’s leading online tyre marketplace for vehicle maintenance businesses, has secured US$ 2.25 million ( RM10.7 million ) funding and a partnership with Vynn Capital, a Kuala Lumpur- based Southeast Asian venture capital firm specialising in mobility and supply chain sectors.

This marks the first investment from Vynn Capital’s new Mobility and Supply Chain fund, backed by Malaysian pension fund KWAP, Sime Darby Bhd, Malaysia Venture Capital Management Bhd ( Mavcap ), AEI Capital, and other regional limited partners. The funding round, led by Vynn Capital, welcomes fresh owners including Vincent Lee, an earlier investment into Malaysia’s first dragon, Carsome as well as other local buyers such as Oak Drive Ventures. Kaya Members, one of the country’s oldest stockholders, also participate in the round.

” We are quite happy to have Vynn Capital aboard. In our initial conversations, I realized that they could join us with possible strategic people. Since the launch, it is more than just money. Their strategy for freedom synergy is very pertinent as we strive to optimize the electrical maintenance sector, according to Louis Giraud, founder of WYZauto.

Southeast Asia’s automotive repair industry has area for significant growth, according to the report. &nbsp, WYZauto is positioned precisely where the business needs it: their streamlining of the wheel provide network creates a earn- win situation for both repair shops, maintenance networks, wholesalers as well as brand manufacturers, driving efficiency and cost savings. We are optimistic about the company’s future progress and look forward to WYZauto’s development abroad.Thailand’s mobility marketplace WYZauto raises US$2.25m with Malaysia’s Vynn Capital as lead investorMalaysia, the Philippines, Indonesia and Thailand”, said Victor Chua ( pic ), founder and Managing Partner of Vynn Capital.

WYZauto is a rubber marketplace that connects Thai two- or four-wheeler vehicle maintenance companies with a wide range of major tyre manufacturers. The software, which it claims to be, gives car maintenance companies access to the nation’s largest tire stock, and will soon expand its coverage to include other car parts, aiming to optimize the entire supply chain for vehicle maintenance. Through the WYZauto platform, the company collaborates with many distributors and brands to expand their e-commerce presence and gain new customers.

Last season, WYZauto expanded into Malaysia, a market that is carefully poised to be a key hub for the automotive and mobility sectors. As part of this new agreement, Vynn Capital, with its deep knowledge of the Indonesian business and leadership in mobility investments, will positively help WYZAuto’s expansion it.

Vynn Capital’s strategy includes acting as a strategic advisor to portfolio companies, acknowledging the need for more than just capital. Their strategy revolves around generating synergy throughout the entire investment network to create value. In WYZauto’s case, Vynn Capital’s aim is to facilitate mutually beneficial partnerships that accelerate WYZauto’s growth within the Malaysian market by leveraging their existing connections, particularly in the mobility and supply chain sector.

In addition to supporting WYZauto’s growth, Vynn Capital is actively looking into other opportunities as well as startups from key markets like Singapore, Thailand, and Indonesia. Vynn Capital believes in the long- term potential of Southeast Asia’s mobility market, with the region’s automotive products market alone expected to reach US$ 79 billion in 2028, significantly exceeding 2023’s US$ 61 billion. The company sees this as an opportunity to help with mobility solutions that can meet the region’s changing and distinctive mobility needs.

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Microsoft appoints Laurence Si to lead Malaysia

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  • succeeds K Raman, who for a document nine years led Microsoft Malaysia.
  • Aims to expand country’s modern transformation through fog adoption &amp, AI

Microsoft appoints Laurence Si to lead Malaysia

Starting on July 1st, Microsoft has announced the appointment of Laurence Si ( pic ) as its Managing Director for its operations in Malaysia. He will succeed K Raman, who led Malaysia for a 9-year, record-breaking nine-year run, in terms of operational tasks. His new position will be announced on July 1.

Laurence brings 30 years of business and technical experience and great industry knowledge to enhance growth and modern acceleration for Malaysia, its developer and startup ecosystem, enterprise businesses, small to moderate enterprises, the public sector, and critical industry horizontal sectors. &nbsp,

Through the use of artificial intelligence and sky adoption, Laurence and his leadership team at Microsoft will be able to give digital-first companies and startups the tools to level their innovation. &nbsp,

Andrea Della Mattea, president of Microsoft ASEAN, stated:” We continue to discover outstanding opportunities in Malaysia, and I’m excited that Laurence is joining us in this new century of modern empowerment, where organizations in Malaysia are adopting artificial intelligence and a society of innovation.

” I’m very excited to be a part of the AI evolution that Microsoft is leading, and I’m very appreciative of how well our communities are doing,” Laurence said. I’m looking forward to the amazing opportunities that this brings to Malaysian organizations because I’m leading the AI journey for our customers and partners.

He previously held leadership roles at AWS, VMware, Cisco, and Lucent, contributing significantly to establishing their presence advancing Malaysia to adopt cloud. &nbsp,

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ACE listed Systech acquires Wilstech, giving 3X return to ECF investors

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  • Next ECF return for Ata Plus after 2019 return of Skilafund
  • US$ 15m merger consists of US$ 4.2m money &amp, US$ 11.6m in stock

ACE listed Systech acquires Wilstech, giving 3X return to ECF investors

Bursa Malaysia has granted the approval to Systech Bhd, a company listed on the ACE Market, to acquire Wilstech Sdn Bhd, for a total purchase consideration of US$ 15.82 million ( RM75 million ) consisting of RM20 million in cash and RM55 million via the issuance of 152, 777, 777 Systech shares. Wilstech, an IT solutions provider, raised UD$ 316, 400 ( RM1.5 million ) through an equity crowdfunding (ECF ) campaign with Ata Plus Sdn Bhd in Sept 2020 at a RM25 million valuation.

Ata Plus applauds the merger as a testament to the utility of ECF as a viable investment platform for businesses with high-growth potential. This is the second Ata Plus ECF leave. The second return in 2019 was a corporate merger of Skolafund, a societal impact business.

]RM1 = US$ 0.211]

” Since 2020, I’m proud to say that we have grown from strength to strength. ECF funding “undoubtedly played a significant role in our development trip,” according to Wilson Low, founder and CEO of Wilstech, “particularly in our product development, business growth, and consumer acquisition.”

Nowadays, Wilstech specialises in business- to- business ( B2B ) IT options, IT infrastructure, IT management and offshoring and the offer of IT equipment. Its users span across the open market, GLCs, corporates and SMEs.

Since its ECF investment practice, Wilstech has experienced remarkable growth in both revenue and profit. The yr- on- time revenue growth for 2020/21 and 2021/22 are 146 % and 167 % between, whilst the Income- After- Duty is 113 % and 199 % both for 2020/21 and 2021/22. From an 8- person firm in 2020, it has grown to 40 team in 3 times. We are appreciative of the trust and confidence that ECF investors have in us and the support the Malaysian government has received from the MyCIF ( Malaysia Co-Investment Fund ) program. I am delighted to be able to offer good results to our shareholders, especially the ECF owners. Without their unwavering belief and aid, we would not have achieved the status we hold today”, Wilson added.

ECF offers investors exposure to a wide array of substantial- development companies spanning across different industries, such as technology, care, F&amp, B, agriculture, greentech, education and consumer goods. This growth, coupled with the high profit potential, makes ECF an interesting purchase avenue. ECF was created by the Securities Commission to give retail investors the opportunity to invest in and take advantage of the expansion of promising companies through regulated ECF platforms like ATA Plus. Investors should be aware of the risks involved and conduct thorough assessments before investing, despite platforms like ATA Plud conducting thorough due diligence, disclosing pertinent information and the terms of the companies listed on its platform.

ACE listed Systech acquires Wilstech, giving 3X return to ECF investorsThe success of Wilstech’s acquisition is a testament to the power of ECF in guiding businesses to success. Through ECF, the money that Wilstech raised helped it meet its business objectives and ultimately draw in a larger, established player like Systech. This success story underscores EC F’s value for investors and entrepreneurs alike”, said Elain Lockman ( pic ), Ata Plus ‘ CEO and co- founder.

With Systech’s acquisition of Wilstech as a prime example, ECF emerges as a promising investment avenue for portfolio diversification through curated high-growth ventures. Regulated platforms like Ata Plus provide access to such opportunities, fostering SMEs and startups and bolstering the nation’s economic growth. Visit Ata Plus at www.ataplus.com for more information about ECF and to learn about exciting investment opportunities. ata- plus.com.

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EdgePoint, Celcom Timur partner to enable connectivity services throughout Sabah 

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  • CT Sabah to join its network with EdgePoint’s equipment at 50 sites&nbsp,
  • For wireless network operators&nbsp, EdgePoint can collaborate to provide fiberized structures.

EdgePoint, Celcom Timur partner to enable connectivity services throughout Sabah 

EdgePoint Towers Sdn Bhd, a division of EdgePoint Infrastructure, an ASEAN- based separate communications infrastructure firm, has partnered with Celcom Timur Sabah ( Pet Sabah ) to provide final- hour system, as part of their commitment to enhancing communication in East Malaysia.

Through this agreement, CT Sabah may join its core system with EdgePoint’s communications system at an estimated 50 sites in Sabah. By connecting existing and upcoming buildings across the position to CT Sabah’s fiber system, EdgePoint will also be able to provide full fiberized structures to cellular network operators.

Muniff Kamaruddin, &nbsp, CEO of EdgePoint Towers Sdn Bhd stated, “EdgePoint is pleased to announce our engagement with Celcom Timur Sabah to&nbsp, focus on providing reliable&nbsp, connection through final- hour system. By combining the advantages of CT Sabah and EdgePoint, we are able to create a strong digital infrastructure that will make Sabah’s citizens feel connected. This aligns with our commitment to advertise online equity in our nation and support national digitalization efforts.

However, Zurinah Datuk Hanafiah, CEO of Celcom Timur Sabah shared, “CT Sabah looks forward to this cooperative relationship with EdgePoint, recognizing the common disadvantage of leveraging each other’s knowledge. This partnership will help CT Sabah’s continued efforts to expand communication throughout the province. However, it will accelerate the development of modernization, fostering development and innovation within the territory”.

EdgePoint now owns 1500 places in Malaysia, out of which 71 are in East Malaysia.

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Fefifo collaborates with PayNet to improve incomes, advance digital payments inclusion for farmers in Malaysia

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  • Collaboration helps develop Malaysia’s food safety interests
  • Aims to support B40 producers to become online knowledgeable rural entrepreneurs

From left : Chris Fong, co-founder, Fefifo, Shahirah Shafri, senior corporate affairs executive, Fefifo, Riri Yanti Razali, corporate affairs and partnerships lead, Fefifo, Azleena Idris, senior director, Strategy & ESG, PayNet and Kelveen Soh, co-founder, Fefifo)

Fefifo, an AgriTech startup, announced that online applications have been made available for qualified farmers from B40 communities in Malaysia to participate in the Farmer Digitalisation Programme, which uses Fefifo’s Magic Bean app and is based on Payments Network Malaysia ( PayNet ) digital payments.

The agreement between PayNet, the nation’s payments system and provider of key financial infrastructure, was formalized in November 2023. This engagement includes:

  • Fefifo will provide funding to train B40 producers to become technologically savvy rural agropreneurs.
  • Bonuses, education, and project sponsorships from PayNet for farmers in the B40 area who are in Fefifo’s Farmer Digitalisation Program to embrace digital payments
  • PayNet support has been provided to lower the cost of running Fefifo’s digital distribution centers, as well as maintaining a logistics ship that transports plantation create for sale to Fefifo’s network of offtakers.

Fefifo’s Farmer Digitalisation Programme aims to digitalize smallholder farmers so that they can grow high-quality food plants by providing a thorough value chain answer using Fefifo’s custom mobile system” Magic Bean.” These solutions include MyGAP- qualified stage- by- step, on- demand online farming SOPs, agricultural expert support, lower priced key agri- inputs, guaranteed 100 % offtake, and access to financing facilities. &nbsp,

It aims to promote sustainable livelihoods for smallholder farmers by growing high-quality harvests more frequently for a prompt harvest.

Leveraging Fefifo’s expertise in food crops know- how, specialized online farming platforms, complimented by PayNet’s wide network of ecosystem participants and range of digital payment products and services, this simultaneous collaboration helps to improve the nationwide food security priorities, increase local food production, and reduce reliance on imported food, in support of National Agrofood Policy 2021- 2030.

Kelveen Soh, co-founder of Fefifo, stated that this sponsorship supports farmers as a kick-starter financial support by subsidizing the cost of the initial seeds and nutrients needed at the beginning of a crop growing cycle. On top of all the other advantages and benefits that come with being a part of our fast-growing network of farms and farmers, he added,” Small farmers in our network appreciate this help to start a new cycle of growing.”

Muhamad Hafizam Rasidi, a second-generation settler from FELDA, is one of the earliest beneficiaries. He has been receiving three months of on-the-job training at Fefifo Co-farm in Perak since December 2023, and is now back in his village in Pahang onboarding other interested farmers. &nbsp,

On my family farm, I used to grow lemongrass. Income was uncertain, due to price and harvest. I’ve heard that if grown properly and properly, chilies produce a better harvest and steadyer income. Then Fefifo was introduced to me and I made the decision to try. It has been a good experience, learning hands- on how to grow chili at commercial scale”, he added. &nbsp,

” I look forward to returning to my kampung to encourage others to participate in this program. It’s simple for me to switch to this new way of farming thanks to the modern methods, digital SOPs, and ongoing support in Fefifo’s mobile app Magic Bean. Fefifo takes care of everything, which also means I do n’t have to worry about sales. Everything is fully cashless and received immediately”, Hafizam said.

Up to 100 B40 farmers will receive sponsorships from PayNet to join the program, and several distribution centers will be established nationwide in the next few months to facilitate farmers ‘ access to rural markets through the program so they can send their produce to Fefifo and receive payments digitally. In addition, PayNet has also funneled potential additional cohorts from its other ESG initiatives. They include graduates from the B40 communities who are relocating to their hometowns to launch their own social enterprises, one from a public university in Pahang and the other, one in Johor. Additionally, cohorts from one of the PayNet-supported fintechs are in the pipeline from B40 communities in Sabah.

This program is an extension of the firm’s PayNet Cambah programme, which aims to create virtuous cycles of sustainable, cashless communities, and is the first in AgriTech, according to Azleena Idris, senior director and head of the Strategy &amp, ESG Office at PayNet. It has the potential to truly transform and revolutionize the agricultural sector, enabling creative yet practical application of technology for small farmers to increase their income from more money made from more advanced farming methods, lower production costs, and assured returns. Because everything is cashless and credited directly to their accounts, they no longer have to worry about handling cash or payment delays,” she continued. &nbsp,

In order to advance cashless payments integration and equip these target segments with digital literacy skills, PayNet is also working with public sector bodies, NGOs, start-ups, fintechs, and local entrepreneurs. Working together is essential to unlock the potential of the digital economy for these segments, Azleena said.

The Farmer Digitalisation Programme has so far piqued the interest of participating ecosystem partners and communities in Negeri Sembilan, Pahang, Perak, and Selangor, and is expected to expand to Johor, Penang, Kedah, and Sabah in the near future. discussions with local governments and local communities for large-scale participation, including those with the Penang DOA, the Malaysian Communications &amp, the Multimedia Commission, and other local cooperatives. &nbsp,

To know more about the program details, please visit www. fefifo. co/fdp. Fefifo program advisors will conduct an in-person verification process to evaluate the applicant and the current farm conditions for all online applications.

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