2024 Scam Report: Malaysians still susceptible to scams with 64% not aware of National Scam Response Centre

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  • Report by CelcomDigi shows powerful &nbsp, knowledge, risk with calls for action
  • Urgent need for whole-of-society approach to address this cultural illness

2024 Scam Report: Malaysians still susceptible to scams with 64% not aware of National Scam Response Centre

The powerful tales of recognition, risk, and the need to take proactive measures to stop scams and deceptive activities were recently highlighted in the National Scam Awareness Survey 2024 statement from CelcomDigi Bhd. &nbsp,
It revealed that Malaysia is progressing as a highly digitalized country, as 91 % of respondents frequently use society computer centers for a wide range of online services. Malaysians are more easily vulnerable to fraud threats because of the great internet usage. This underscores the need to take more security precautions in order to build a secure and reliable online society.
Idham Nawawi, CelcomDigi CEO &nbsp, said,” Now, while we enjoy the benefits of electronic communication, we face a real where frauds and scams have become one of the most pressing social diseases today. The first National Scam Awareness Survey 2024 statement from Commodigi provides actiona ble data and insights that you inform more strategic and focused strategies to combat fraud and scams. Guided by the record, we can handle the gaps in mitigating this incident, develop confidence, and develop a more secure online environment for Malaysians”.

Over the past year, 87 % of the 10, 893 polled across the country, have been more aware of scams and were able to information and explain the nature of the scam they were exposed to. Respondents also acknowledged that it’s dangerous to click unverified references and that exposing personal information can be used against them. Additional features of the review: &nbsp,
73 % of people are aware of the dangers of sharing and revealing personal information via social media.
65 % indicated they would confirm any backlinks received before clicking them, whereas
Prior to sharing them, 52 % of people would screen their private information.
These indicate that the majority of respondents follow standard procedures for protecting their personal information. &nbsp,

However, two-thirds ( 66 % ) of them have encountered some form of scam attempts or situation. These efforts, numbering a remarkable 17, 912, shows that an individual can experience numerous types of frauds through various stations. Voice phone calls ( 76 % ) were the most common type of scam, with pretending to be bank or government representatives or officers. Artificial staff are employed in the scam attempts:
Asking respondents for their personal information ( 31 % ),
causing concern that respondents ‘ bank accounts may be in trouble and threatening respondents to make a specific payment ( 23 % ),  
offering government assistance and requesting personal or bank information ( 23 % ).

Additionally, the report noted a tendency of con artists swindling patients who have higher education and income levels. Comparing demographic factors revealed that those with higher education levels had higher rates of attempted schemes than those with just secondary or elementary education or those who made RM1, 000 or less per month. &nbsp,

The survey also assessed Malaysians ‘ awareness on the 997 hotline of the National Scam Response Centre ( NSRC ) for scam reporting, in addition to raising public awareness of the types of scams and scam tactics. 64 % of respondents were unaware they may report schemes to the NSRC line, according to research. Also, the level of knowledge among those who are reportedly in financial distress is the lowest, with 67 % of those who claim to have received insufficient income to pay their monthly expenses no being familiar with the NSRC hotline as a reporting tool for scams.

A quick course of action is a crucial stage for scam victims. However, the report makes it clear that respondents may not have the same levels of resilience to scams, especially when it comes to taking preventative and mitigating measures:
52 % blocked the telephone numbers of scam or suspected swindlers,
32 % advised family or friends, while
19 % either closed their bank accounts, cancelled their credit cards or did nothing. &nbsp,

In response to these studies, the document indicates an urgent need for a whole-of-society approach to actively address this cultural illness. The advice include:
At the federal level, there have been more scam awareness campaigns across several channels, and there has been a greater emphasis on the role of NSRC, which includes allowing more Malaysians to learn from its services,
For the private sectors: To incorporate fraud risk management into company strategy while creating more innovative facilities to protect customers ‘ interests.
Public-private collaborations to choose a multi-pronged strategy to build an environment for a more holistic and strategic precautionary measures. &nbsp,
The review is part of CelcomDigi’s continued battle against scams and fraudulent activities. It is obtainable around &nbsp, and on social media platforms for the consumer. &nbsp,

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pitchIN launches first token crowdfunding deal with BidNow

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  • The BidNow platform’s primary mode of change will be the bidNow gift.
  • TCF raises funds via online key issuing, offering flexibility, exit opportunities

(Left to right, stranding): Sean Lee (BidNow), Liang Wooi Gee (BidNow), Ivan Goh (BidNow), Nicholas Chong (pitchIN), Marcus Tan (Gambit), Chris Yong (BidNow), Clifford Hii (Gambit), Steve Siew (BidNow), Jarvis Wong (BidNow), Kelvin Cheong (Gambit), Linus Loh (BidNow). (seated left to right): Frankie Goh (BidNow); Sam Shafie (pitchIN) and Dr. Mohamed Azahari (BidNow).

PitchIN, Malaysia’s leading digital fundraising&nbsp, hub, announced&nbsp, the launch of its maiden deal for Token Crowdfunding (TCF), a US$ 2.13 million ( RM10 million ) primary offering of utility tokens by Bid Now, an online auction platform. Based on&nbsp, regulations in&nbsp, Malaysia, TCF&nbsp, is also referred to as an Initial Exchange Offering ( IEO ).

The primary form of exchange for all services on the BidNow platform will be the BidNow token ($ BID ). It can also be utilised for loyalty rewards, account membership, and in the BidNow NFT Marketplace. Moreover, it offers permissions for its key holders beyond key utility, such as reduced fees and higher percentage payouts.

Sam Shafie, the co-founder and CEO of pitchIN, said,” It truly is a historical moment for pitchIN. This is a significant milestone for us because we are the pioneers in Malaysia’s digital resource funding and investment ecosystem. We applaud the Malaysian Securities Commission for their direction and management. Investors have the option to make bold digital investments through an approved channel thanks to PitchIN’s girl TCF offer.

He noted&nbsp, that there are not many other entirely regulated TCF deals&nbsp, in Malaysia.

According to pitchIN, TCF is an innovative way for businesses to raise funds from the people through online key release, &nbsp, offering more flexibility, company coverage, and leave opportunities. TCF typically offers both guaranteed investment results and exclusive access to the company’s upcoming goods and services.

TCF provides owners access to early-stage digital currencies through a regulatory-compliant program with the chance to expand their investment portfolio and enhance&nbsp, earnings.

Nicholas Chong, the head of Token Crowdfunding at pitchIN&nbsp, said, &nbsp,” Bid Now’s deal is the first of many to come. We do include a few more in the pipeline. Our team is making an effort to make sure that the best interests of the firms raising money and the owners are being properly considered. It is quite a difficult process, but with the help of the SC, it is very likely that we will see more Metres offers listed&nbsp, in the coming month. Gratitude to&nbsp, the BidNow group on being the first offer on the pitchIN TCF platform”.

BidNow is then pre-live on pitchIN. For more information on the package, please visit: www. pitchin. my/token

BidNow has already exceeded the minimum amount it was hoping to raise.

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Futurise, Malaysian Sports Aviation Federation forge alliance to revolutionise drone sports in Malaysia

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  • Working with the Civil Aviation Authority of Malaysia to develop aircraft activities regulations&nbsp, MSAF will work with the government of Malaysia.
  • Futurise to direct creation of new ecosystems, build regulatory systems for drone sports

Left to Right: Rosihan Zain Baharudin, CEO of Futurise, Hannah Yeoh, minister of Youth & Sports and Nurhaqimy Ismail, MSAF president

Through a Memorandum of Understanding, Futurise Sdn Bhd and the Malaysian Sports Aviation Federation ( MSAF ) have forged an alliance to advance and advance the burgeoning field of drone sports in Malaysia.

Futurise stated in a statement that this collaboration aims to create pioneering dedicated simulators and guidelines as well as develop instructions and manuals to ensure the highest standards of safety and functionality. Also, it will maintain a cutting-edge habitat for aircraft sports by combining Futurise’s regulatory experience with MSAF’s command in sports aviation. Together, both parties are determined to take Malaysia to the top of this creative and creative niche.

Futurise will spearhead the development of new ecosystems and use its considerable expertise to create comprehensive regulation frameworks for drone sports in accordance with the terms of the MOU. Sequentially, MSAF will work closely with the Civil Aviation Authority of Malaysia to build robust regulatory systems, rules, and books certain to drone activities. This partnership will help to advance Malaysia’s position as a world leader in satellite sports technology and innovation as well as the regulation landscape.

The partnership encompasses a wide range of activities aimed at fostering companion interactions, exploring new partnerships, and developing responsible business models. Significantly, this MOU represents a milestone in advancing aircraft activities in Malaysia, perfectly aligning with the government’s goal of becoming a worldwide leader in emerging technology and sports technology.

Malaysia’s drone industry is on the cusp of remarkable growth, projected to reach US$ 263 million ( RM12.13 billion ), capturing 4.3 % of the global market share by year-end according to Bernama. With a CAGR of 21.44 %, the industry could be valued at US$ 7.27 billion ( RM34 billion ) by 2029. This rapid rise underscores the huge potential of aircraft technology across many sectors, including athletics, and reflects Malaysia’s unwavering commitment to advancing high-tech sectors.

” This engagement represents a significant advance in our efforts to place Malaysia at the top of aircraft sports and technology,” said the company. By combining MSAF’s regulation skills and Futurise’s pioneer spirit in creating strong ecosystems, we are poised to set new standards in this fascinating industry”, said Nurhaqimy Ismail, leader of the Malaysian Sports Aviation Federation.

He continued,” I look forward to the creative programs and collaborations that will result from this partnership, which will enable Malaysia to lead drone sports and become a hub for pioneering technological achievements.” &nbsp,

Meanwhile, Rosihan Zain, CEO of Futurise, highlighted the transformative impact of drone technology across diverse sectors such as agriculture and defense. ” Drone technology holds immense potential as a game-changer in industry transformation”, he said. Through comprehensive training programs, we are dedicated to providing Malaysian talents with advanced UAV expertise.

This partnership aims to promote Malaysia’s position in the world’s drone sports community as well as foster a vibrant and creative ecosystem that benefits society as a whole. This collaboration is poised to set new standards in the realm of drone sports and technology with the combined expertise of Futurise and MSAF.

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Key Speakers and agenda announced for the 6th ISES 2024 

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  • Student and senior specific ticket prices announced
  • HRH Tengku Mahkota of Pahang to provide Presentation Target

Key Speakers and agenda announced for the 6th ISES 2024 

The 6th International Sustainable Energy Summit ( ISES ) 2024, taking place on August 20th-21st at the Kuala Lumpur Convention Centre, will feature over 70 renowned speakers, 30 leading exhibitors, with 4, 500 visitors expected to be in attendance. Full Sessions and Serious Dive Workshops led by power experts will be held at the Summit.

The 6th ISES may have HRH Prince Hassanal Shah, Tengku Mahkota of Pahang, who is scheduled to give a presentation address before the next Plenary Session on Youth, Education, and Talent Development. The promotion of native talent through schooling and talent development is viewed as a necessary step in accelerating the transition to renewable energy and ensuring a prosperous and modern potential.

Another significant speakers include:

  • &nbsp, Ir. Megat Jalaluddin, president and CEO of Tenaga Nasional Berhad ( TNB). He was TNB’s past chief operating officer, and he was instrumental in the company’s change to net-zero energy, which was in line with Malaysia’s 2030 goal of carbon neutrality.
  • Professor Dr Jomo Kwame Sundram, top director at the Khazanah Research Institute and a Fellow of the Academy of Science, Malaysia. He serves as visiting teacher at the International Islamic University Malaysia, visiting professor at the University of Malaya, and visiting professor at the University of Malaya. He has held important jobs at the UN and FAO, as well as serving on the Economic Action Council and the Council of Eminent Persons, the perfect leader’s Economic Action Council and and the Council of Eminent Persons. Additionally, he was awarded the Wassily Leontief Prize in 2007 for advancing the boundaries of economic idea.
  • Hairol Azizi Tajudin, CEO of Cenergi-SEA Berhad who has over 25 years of experience in the fuel &amp, fuel and electricity industries. His solid foundation, which he led at Malakoff, where he spearheaded initiatives into solar energy and increased operational efficiency, is now under his leadership at Cenergi-SEA.

Throughout the mountain, industry leaders like OCBC Bank Malaysia Bhd, Solarvest Energy Sdn Bhd, Malakoff Corporation Berhad, Sarawak Energy, and others will share their knowledge in sustainable energy options.

Special ticketing rates are offered to guarantee diversity, with special rates available for seniors and students over the age of 60.

More details on the schedule and booking can be found at www. ises. gov. my

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Underwater remote vehicles solutions provider, SS Rover raises US.14mil from VentureTECH

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  • Funding to expedite the development of cutting-edge tele-operated systems
  • VentureTEC H’s mission to empower high-potential Bumiputera firms in tech

Syamsul Nizam Azmee (4th from left), founder and MD of SS Rover with Ahmad Redzuan Sidek (4th from right), CEO of VentureTECH with colleagues.

VentureTECH Sdn Bhd ( VentureTECH) announced yesterday, a strategic investment of RM10 million in SS Rover Sdn Bhd, a leading underwater remotely operated vehicle ( ROV ) solutions provider in Malaysia with over 15 years experience.

SS Rover is a homegrown tech firm specialising in engineered services, products, and mechanical solutions for the offshore oil and gas, electricity, telecommunication, and under legal infrastructure industries.

The purchase will make it easier to develop and use SS Rover’s cutting-edge teleoperated system and incorporated digital twin ship system, which will transform the world of underwater operations.
” We are thrilled to get this funding from VentureTECH in order to make our cutting-edge tele-operated techniques more widely used and help us continue our mission to provide our clients with the most advanced robotic options. With VentureTEC H’s support, we are well-positioned to establish leadership in underwater ROV and pioneer significant advancements in the industry”, said Syamsul Nizam Azmee, founder and managing director of SS Rover.

We are thrilled to help SS Rover’s innovative strategy for revolutionizing marine operations, said VentureTECH CEO Ahmad Redzuan Sidek.

The Malaysian Industry-Government Group for High Technology ( MIGHT) is a wholly owned subsidiary of VentureTECH.

Ahmad Redzuan noted that SS Rover’s skills and creative options matched VentureTEC H’s goal to promote technological innovation and support high-potential Bumiputera companies in the technology industry. ” We firmly believe that SS Rover’s advanced underwater mechanical solutions may include a profound effect on the offshore oil &amp, petrol, electricity, telecommunication, and utilities industries, and we are excited to embark on this journey of growth up”.

With more than 15 years of experience in underwater ROVs and robotic system training, SS Rover has expanded its expertise to include TVET, MRO ( refurbishment ) and offshore field operations. Nowadays, SS Rover stands at the vanguard of delivering state-of-the-art engineered solutions and mechanical solutions to its various customers.

VentureTEC H’s funding may be instrumental in fuelling SS Rover’s growth and innovation by supporting ROV equipment and system growth, working capital, and business development efforts. This strategic agreement will give SS Rover the ability to improve its teleoperated system, increase its capabilities, and improve its operating efficiency. Also, the investment will support the development of the ground-breaking integrated digital mini fleet system, which has the potential to revolutionize underwater operations.

Some of the verticals served by SS Rover.

Our investment may help SS Rover advance across the entire industry, as well as advance its technological prowess and expand its market presence. This partnership demonstrates VentureTEC H’s belief in SS Rover’s ability to create high-quality jobs while shaping the field of underwater robotic solutions. It reflects our commitment to making investments that have an impact that promote good social change. Ahmad Redzuan emphasised.

The advancements made by SS Rover in tele-operated techniques represent major technological advances in underground ROV operations. These innovations are intended to boost underground operation’s effectiveness and reliability, decrease risks, and improve operating efficiency. Along the voyage, the development of the integrated digital twin ship system allows technology, enabling better decision-making and more effective fleet management.

Up, VentureTECH and SS Rover are poised to use cutting-edge technology to influence the direction of underground operations in the future.

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Ficus SEA fund invests US9,000 in Klean to boost sustainable recycling across Asean

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  • Funds will be used to develop system of machines, enhance local operations
  • Klean now operates 100 RVM devices across Malaysia, Indonesia, Singapore, &amp, Fiji

Ficus SEA fund invests US$429,000 in Klean to boost sustainable recycling across Asean

Ficus Capital ( Ficus ), the world’s first Islamic Environment, Social, and Governance ( ESG-i) venture capital firm, announced that it will invest US$ 429, 000 ( RM2 million ) in Klean, a green technology sustainable recycling business owned by Janz Technologies Sdn Bhd.

In a statement, the company said this investment, made through Ficus’s flagship Ficus SEA Fund, will support the Malaysia-founded company’s initiatives in container recovery, expanding its network of reverse vending machines ( RVMs) and enhancing its regional operations in Malaysia, Indonesia, Singapore, and Fiji.

Klean encourages people to recycle empty plastic containers through the use of a sophisticated digital container deposit system based on artificial intelligence ( AI)-based reverse vending technology. The company encourages active involvement in recycling efforts by satisfying customers with points that can be exchanged for rewards. Moreover, its RVMs hold the World Green Tag Certification, ensuring the highest specifications of environmental sustainability and performance. &nbsp,Ficus SEA fund invests US$429,000 in Klean to boost sustainable recycling across Asean

Our investment in Klean represents our continued commitment to supporting businesses that operate in accordance with ESG-i principles, according to Ficus Capital managing partner Abdullah Hidayat Mohamad ( pic ). As global awareness of social and environmental issues grows, so does the need for responsible investment options that conform to moral and religious principles.

The ESG-i field “presents the intersection of these trends, giving investors the opportunity to make morally responsible and effective investments while upholding Muslim financing principles,” he continued.

According to Fortune Business Insights, the global green technology and sustainability market is projected to grow from US$ 19.83 billion ( RM92.5 billion ) in 2024 to US$ 83.59 billion ( RM390 billion ) by 2032, at a compounded annual growth rate ( CAGR ) of 19.7 percent. Major growth is anticipated, particularly in developing markets and emerging markets.

Nick Boden ( pic above ), co-founder &amp, CEO of Klean, said,” Ficus’s investment in Klean is a vote of confidence in the company’s future. This extra funding might become a significant contributor to our expansion. Our goal and Ficus ‘ commitment to sustainable and ethical investment are perfectly aligned, enabling us to increase our network of RVMs and strengthen our regional operational presence.

He added that Klean chose Ficus to serve as the agency’s head institutional buyer because of their closeness to the company’s objectives. ” First, they specialise in Shariah-compliant ESG investing, which resonates with our principles. Our designed growth into ASEAN areas is properly complemented by their strong appearance in Southeast Asia. This provides a significant level of trustworthiness and potential for future support because the fund is supported by Mavcap and the Malay government,” said Boden.

Green recycling technology has the potential to revolutionise different industries, including clean energy, sustainable transport, waste control, and power performance, thereby fostering a cleaner, greener future for all.

Equipped with cutting-edge AI systems, Klean’s Smart RVMs include a device learning-enabled hose worthy of recognising models of stored containers. This makes intended advertising available and allows the shop to recover their container’s data. Moreover, the machines quickly identify the type of materials and sort it into individual boxes, optimising recycling operations. Now, there are 100 RVM products across Malaysia, Indonesia, Singapore, and Fiji.

Our cutting-edge systems, according to Boden, “enables us to live in a cleaner, greener future by facilitating the disposal process as well as providing useful data and insights.” We are looking forward to having a significant impact on the environment and the communities we serve with this relationship and are excited about the opportunities it may offer.

Complementing these RVMs is the Klean the World mobile software, which allows extractors to scan QR code, obtain Klean items, and unlock benefits. The app uses core user data to create targeted, precise marketing campaigns. Additionally, Klean’s data and reporting capabilities allow businesses to track RVM data and ESG reporting in real-time using the Klean dashboard, providing businesses with detailed information for CSR reporting and data monetisation channels.

Ficus SEA Fund was launched in November 2021 with a focus on accelerating the growth of high-potential technology startups across ASEAN in sectors such as logistics, fintech, healthtech, e-commerce, edutech, greentech, big data analysis, and cloud services. The fund aims to support innovative businesses that have a positive effect on society and the environment. It focuses on three primary concepts: Shariah principles, sustainable growth, and ESG.

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Malaysian startup, Wise AI raises 8-figure Series A from MTDC, VT-SBI and Sunway Group

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  • aims to develop modern IDs for the 680 million people who live in Southeast Asia.
  • NIST ranks in the top 25 worldwide for facial recognition corresponding accuracy according to the US-based NIST.

David Lim, founder and CEO of Wise AI (4th from left) with Mohd Jerry Tan (1st left), Principal of VT-SBI and Raymond Hor (2nd left), Director of Sunway iLabs Ventures; along with his team.

Wise AI, a Malay company specialising in eKYC and Digital Identity options, said it has raised an eight-figure Sequence A money, without disclosing the number. The funding round was led by Malaysia Technology Development Corporation ( MTDC ), VentureTech SBI Sdn Bhd (VT-SBI ) and Sunway Group’s Sun SEA Capital. Wise AI expects the agreement, which was launched in September 2018, to further its goal of developing electric names for the 680 million people in Southeast Asia.

Sun SEA Capital is a duplicate trader, having invested in an earlier round along with&nbsp, PH Capital from Hong Kong.

MTDC said” With this strategic investment from MTDC, we are excited to support Wise AI in launching cutting-edge e-KYC ( Know Your Customer ) solutions across new markets, both locally and internationally. With its cutting-edge online identity services, Wise AI stands at the vanguard of this trend. AI technology is changing business everywhere. This collaboration demonstrates our commitment to advancing technology development and placing Malaysia as a leader in AI development.

We think that the development or program of AI is still in its early stages in Southeast Asia, which raises the possibility of substantial business development, according to Mohd Jerry Tan, Principal of VT-SBI. The practical knowledge its Artificial technology is bringing made it more logical for VT-SBI to make an investment in the owner’s inspiring vision more meaningful.

According to Raymond Hor, Director of Sunway iLabs Ventures,” Wise AI has placed Malaysia at the vanguard of the global AI field. Our commitment to proprietary AI technologies and intellectual property was recognized when we became the first and only Malaysian company to receive ISO30107 and the National Institute of Standards and Technology ( NIST ) of the United States for our superior deep-tech capabilities and defense against phishing identity deepfakes. It ranks in the major 25 worldwide, in accordance with NIST, for its visual recognition matching accuracy.

David Lim, the founder and CEO of WISE AI, is convinced that the money will help bring Wise AI to new levels thanks to the assistance of seasoned colleagues. ” Every deal begins with personality, and the center of the online business revolves around one thing – your company’s identification. There has n’t yet been a dominant player in Southeast Asia as this industry grows. We envision becoming this country’s leading eKYC and online personality service. We want to expand our options by working with partners in each nation to better serve their needs, he said. Wise AI is working with partners and vendors from Thailand, Indonesia, Philippines, Vietnam, and Brunei. It&nbsp, did then further improve its&nbsp, existence in these countries.

Wise began expanding its R&amp, D capabilities from 2020, going into Generative AI, Machine Learning, and Large Language Models ( LLM) to enhance its solutions and services.

Its amazing AI systems verify the authenticity of government-issued Authentication, compare them against their physical biometrics, and identify deepfakes. This technology gives the government and the private sector the assurance they need to properly and mildly accredit customers.

The Indonesian government’s AI Governance and Ethics model was chosen based on Wise AI as the case for its national success. In this case, Wise AI demonstrated the position of its eKYC answer with seven principles of AI Ethics, including justice, responsibilities, equality, resilience, protection, joy, and transparency. For example, under the transparency process, Wise AI ensures evidence is provided when an AI option is claimed to be custom and never using third-party Artificial systems. This is done to protect customers from false representations made by buyers. &nbsp,

David Lim with Aminuddin Hassim, secretary-general of the Ministry of Science, Technology and Innovation (Mosti) at the 2024 World AI Conference in Shanghai, where it was the only Malaysian company invited to exhibit.

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Ant International, NTU Singapore team up on privacy tech to boost regional digital economy growth

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  • Both functions work together to promote the growth of PETs in Singapore and the surrounding area.
  • Over the next five years, Ant International did spend up to US$ 14 mil in PETs research.

From left to right: Professor Lam Kwok Yan, executive director of the Digital Trust Centre at NTU Singapore, Professor Lam Khin Yong, vice president (Industry) at NTU Singapore,Tan Kiat How, senior minister of State, Ministry of Digital Development and Information, Yang Peng, CEO of Ant International, Jerry Yin, chief technology officer of Ant International and Dr. Duan Pu, head of Data Algorithm and Technology Department at Ant International

In order to advance digital trust, Ant International and Nanyang Technological University, Singapore (NTU Singapore ) have announced a collaboration over the next five years to conduct groundbreaking research using both Ant International’s industry experience and NTU Singapore’s research expertise on Privacy Enhancing Technologies ( PETs ). &nbsp,

The signing of the Master Research Collaboration Agreement ( MRCA ) between Ant International and NTU Singapore was witnessed by Senior Minister of State Tan Kiat How, Minister of Digital Development and Information, as well as Professor Lam Khin Yong, Vice President ( Industry ) at NTU Singapore, as well as Jerry Yin, chief technology officer of Ant International. At Singapore’s Personal Data Protection ( PDP ) Week on July 16th, a signing took place.

Both functions stated in a combined press release that Ant International and NTU Singapore will work together to enhance the growth of PETs in Singapore and the surrounding area. These solutions aim to increase usage cases and provide greater value to businesses. Additionally, the development of PETs for Artificial Intelligence ( AI ) will enhance digital trust and make AI more reliable. By reducing the risk of data leaks, which would allow businesses to communicate information and gain valuable insight without disclosing personal information, this will be accomplished.

To help PET research, Ant International did commit to contributing up to US$ 14 million ( RM$ 69 million ) over the next five times.

Under this MRCA, Ant International will contribute a total funding amount of US$ 3.7 million ( RM17.2 million ) for the five-year partnership until July 2029. Ant International intends to contribute an additional US$ 11 million ( RM51 million ) to strengthen Ant’s research capacity and subject matter expertise, promote the country’s overall research and development, and use PETs to encourage responsible innovation in Asia.

Experts may have access to real-world use circumstances from Ant International for their jobs, which will focus on improving business tools and processes for machine learning and ensuring insight sharing between businesses during the engagement, which will be based at NTU Singapore. This will be accomplished by utilizing cutting-edge privacy-enhancing technologies like united understanding and zero-knowledge proofs. The goal is to create a team of experts as researchers develop their knowledge of PETs through their tasks.

Large language models ( LLMs) that protect user privacy while training or querying LLMs will also be studied by Ant International and NTU. Both parties may present their findings at renowned workshops on AI health.

Additionally, a combined studies commission will be established to oversee tasks carried out in accordance with the agreement. Dr. Duan Pu, Ant International’s mind of Data Algorithm and Technology Department, and Professor Lam Kwok Yan, executive director of the Digital Trust Centre at NTU Singapore, will function as co-chairs of the commission.

The MRCA builds on an already successful privacy-preserving computing collaboration between NTU Singapore and Ant Group, which saw the creation of a brand-new Private Set Intersection ( PSI) procedure that enables organizations to conduct joint collection research while keeping their respective information private.

Tan Kiat How said,” Robust data security is essential for Singapore’s online business. The Ministry of Digital Development and Information has taken steps to improve the information habitat, including encouraging the use of Animals. I’m pleased to see businesses working with our higher education institutions to grow and develop data protection talent. These collaborations enable us to improve the deployment and development of data safety tools in Singapore and the surrounding area.

However, Jerry Yin said,” Ant International is pleased to increase our engagement with NTU, through this longer-term relationship. Data privacy is a key component of our business as a global provider of online payments and economic technology, helping to offer merchants with secure, trustworthy, and smooth solutions. By leveraging NTU’s scientific knowledge and Ant International’s business practice, we look forward to advancing the development of privacy-enhancing technologies with fresh innovations that address real enterprise needs”.

Professor Lam Khin Yong, vice president ( Industry ) of NTU Singapore, said,” Through its Digital Trust Centre, NTU Singapore has built upon and fostered expertise and talent in Trust Technologies. The partnership between NTU Singapore and Ant International, a president in international online payments and fintech, highlights NTU’s devotion to putting research discoveries in the field of privacy enhancement technology into practice. Both parties will work together to create novel ways to improve online confidence and security, enabling corporations to properly use data for revolutionary outcomes.

Organised by Singapore’s Personal Data Protection Commission, PDP Week convenes regional regulators/policymakers, industry leaders and international think-tanks to connect and collaborate on data use and technologies, including PETs. For more information on PDP Week, please visit https ://www.pdpc.gov.sg/pdpweek2024.

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One in three Malaysian have never used AI at work: Randstad

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  • More than 1 in 5 employees use AI usually or every day at work.
  • 81 % of Malay responders are aware of the impact AI will have on their employment.

One in three Malaysian have never used AI at work: Randstad

One in three Malay has never used AI at work, and another ten percent of those who have used AI tools only when, illustrating a considerable coverage gap in Malaysian skill development.

The total effects of Randstad’s 9th monthly Employer Brand Research in Malaysia have been made available. The study, which Kantar TNS conducted in January 2024, surveyed more than 173,000 people all over the world, including 2,500 from Malaysia, making it what it claims to be the most thorough company branding analysis based on general talent views.

One in three Malaysian have never used AI at work: RandstadFahad Naeem, state chairman at Randstad Malaysia, said,” The quarterly firm brand research guides employers with year-on-year analysis, as well as talent attitudes and opinions on important matters like skill development and equity. AI systems will continue to alter labor structures and skill requirements, and investing in talent development may help businesses find competent talent and entice more Malaysian workers to work there.

81 % of Malay are affected by AI at work.

More than one in five employees, particularly Gen Zers ( 36 % ) and Millennials ( 24 % ), are currently using AI at work every day or frequently, according to the survey. But, 34 percent of respondents said they have not used AI tools at work.

Importantly, there are major generational disparities regarding Iot exposure. At job, 42 percent of Gen Xers have not used AI, and this increases to 73 percent for Baby Boomers.

In Malaysia, 81 percent of respondents understand the impact AI will have on their work. Despite the fact that 71 percent of Gen Xers believe that AI will have an effect on their careers, compared to a whopping 75 % of Gen Xers who have never had any prior work experience. This is similar to Gen Zers (74 percent ) and Millennials ( 73 percent ), who are already more familiar with AI, the survey stated.

It added that, cheerily, labor attitudes on AI’s influence at work bias good, with 45 percent of respondents stating that it will enhance their job satisfaction. Importantly, those already using AI and the higher-educated are more positive that AI will enhance their career happiness, it said.

One in three Malaysian have never used AI at work: Randstad

Naeem said,” The development of AI has been fascinating, but it’s regular for people to know how it will affect their profession. First exposure to new technology may improve their career prospects and promote organizational skills development. Employers should move up to support their workers ‘ skill development as a result of the rapid and considerable advancement in AI connectivity.

One in ten responders, according to the study, did not receive enough opportunities to advance in their field. Workers who do not have opportunities for advancements in their careers are twice as likely to leave their organizations ( 31 % ) than those who do ( 31 % ).

Salary &amp, gains top of mind for indonesian job applicants

According to the report,” Attractive salary and benefits” stand out as the top priority for respondents when looking for an ideal employer to work for in Malaysia, followed by a” good work-life balance”.

The importance of” Strong Management” has also regaining popularity as the third most crucial workplace value statement after moving up to second place in 2023.

According to the report, people who leave their jobs also cite inadequate work-life balance as a major reason for their jobs, which highlights that 48 % of job switchers seek out new companies to improve it. Also, one in three Malay reported leaving their jobs as a result of rising living costs and low salaries.

Naeem continued,” The cost of living has significantly increased over the past two decades, which has resulted in some Malay looking for higher-paying work. Given that dwelling costs have increased in comparison to pay, this is not surprising. People who are overly stressed out about their personal income are also more likely to lose concentration at work. Some in-demand workers are reluctant to change careers as a result of the current economic climate. Therefore, it is crucial for employers looking to hire skill to be aware of both the expectations of candidates and the new business salary averages that their rivals offer.

One in three Malaysian have never used AI at work: Randstad

When questioned if their companies had offered them financial assistance to control the rising cost of living, 35 % of the time said no. Only 10 % of their businesses gave them one-time financial assistance, and another 34 percent claimed that their pay raise had helped to include some of the costs.

Employer Brand Research, which was commissioned by Randstad in its ninth season, features the opinions of at least 2,500 Malaysian responders.

The report includes more in-depth research findings that may aid businesses and employers in developing their boss branding strategies and attracting top talent to Malaysia. Companies are provided with year-over-year trends examination of the top 10 employee value statement factors as well as insights into skills perceptions on crucial human resource issues like capital at work and the effects of AI on skills.

Click here to view a copy of the report.

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IGL Coatings to scale new heights with Endeavor Programme

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  • Recognised for its innovative, responsible approach in protecting surfaces
  • Selected as 1 of 8 high-potential Indonesian companies for the project

IGL Coatings to scale new heights with Endeavor Programme

IGL Coatings, a head in the worldwide market for modern area security options, announced its choice as one of the eight high-potential businesses in Malaysia for the Scale Up by Endeavor Program, Cohort 5. In partnership with Cradle via the MyStartup initiative and supported by Grab Malaysia, GX Bank, and Amazon Web Services ( AWS), this programme aims to empower early-stage high growth entrepreneurs.

In a statement, IGL Coatings said it has been recognised for its innovative approach in the safe paints business, emphasising conservation and cutting-edge systems. The company’s eco-friendly products establish a new standard for protecting property while conserving the environment. Keong Chun Chieh, the company’s CEO, recently received the Entrepreneur of the Year Award at the Star Outstanding Business Awards ( SOBA ) 2023 for his accomplishments and contributions to the Malaysian economy.

According to Keong,” some of the top businesses in the industry extremely recommend this program.” We’re excited to be part of the project as it reflects our responsibility to development, conservation, and international development”.

Scale Up by Initiative is a four-month, non-dilutive program that chooses and facilitates high-potential entrepreneurs in scaling problematic companies. This program provides tailored mentoring, a lively entrepreneur-to-entrepreneur society, and resources to support the scaling voyage of selected companies. IGL Coatings looks forward to utilizing this opportunity to advance its goal of creating lasting solutions for the protective coatings market. &nbsp,

” The Scale Up by Mission initiative aims to deliver customized coaching, develop an entrepreneur-to-entrepreneur neighborhood, and equip founders with the necessary resources to promote Endeavor’s values and mission”, says Adlin Yusman, managing director of Endeavor Malaysia.

IGL Coatings, which was established in 2015, quickly gained popularity as one of the most reliable names in the automotive detailing sector. The company’s reach and worldwide success is attributed to its commitment and dedication towards innovation, sustainability, customer satisfaction, and technology.

The company is committed to research and development, becoming a global market leader in the creation and production of cutting-edge surface protection solutions. It creates industry-leading coatings that deliver exceptional durability, enhanced aesthetics, and environmental sustainability and is trusted by professionals and enthusiasts worldwide. To date, IGL Coatings dedicates itself to revolutionising the automotive, marine, and industrial sectors with cutting-edge technologies and unparalleled customer support.

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