JIA Asset Management partners Vynn Capital to propel Southeast Asia’s startup growth

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  • Does utilize Vynn Capital’s system &amp, insights to help promising startups
  • Partnership aims to push growth, foster development in SEA’s business ecology

JIA Asset Management partners Vynn Capital to propel Southeast Asia's startup growth

By participating as a limited companion in the Vynn Capital Progression Fund, Vynn Capital’s flexibility and provide chain-focused bank, JIA Asset Management Sdn Bhd has made it known that it has a strategic partnership with Vynn Capital. The company stated in a statement that this collaboration represents a major step forward in its dedication to fostering innovation and growth within Southeast Asia’s active startup ecosystem.

JIA Asset Management, a licensed shops portfolio management firm that offers portfolio and wealth management services, is a registered business. It focuses on offering its clients a completely customized money management expertise that is customized to their requirements. The business is dedicated to offering its clients more than just results, but also benefit and opportunities to be at the vanguard of the investment landscape.

By granting JIA Asset Management access to high-potential growth opportunities in the state’s appealing business environment, it was noted that the relationship with Vynn Capital furthers this dedication.

JIA Asset Management continued to stand out in the Malaysian private wealth management market by offering customised and consolidated external asset management solutions that are customized to clients ‘ needs and interests for the year 2023. For the year, JIA Asset Management generated high investment returns for its private mandate clients.

Vynn Capital’s experience in early-stage opportunities, especially in the supply network and freedom sectors, and their emphasis on bridging classic industries with emerging

economy align completely with JIA Asset Management’s perspective. Through this agreement, the company hopes to use Vynn Capital’s extensive network and experience to help identify and help startups that are on the verge of victory.

The partnership with Vynn Capital’s Progression Fund is a testament to our commitment to fostering long-term development and delivering value to our clients, according to CEO JIA Asset Management Emmanuel Burdet. He added that by partnering with Vynn Capital, the company is on the verge of discovering appealing investment opportunities that will bring long-term value to their customers.

JIA Asset Management intends to expand its customer base while maintaining top-notch support and portfolio management for High-Net-Worth People as well as Institutional Investors.

In order to meet the demand for private stocks, the business is also planning to start a general Malaysian fund. Along with Vynn Capital, it is committed to identifying and supporting companies focusing on important areas such as smart mobility, travel, transportation, and supply chain efficiency.

Also, this partnership strengthens the firm’s position as a leader in Southeast Asia, ensuring that they continue to offer their clients access to the most promising growth opportunities.

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Why is Princeton Digital Group’s flagship AI data centre in Johor a boost for Malaysia?

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  • 150MW JH1 posts Malaysia as a local hotspot for AI-ready information centres
  • combines native talent with tech innovation to promote the nation’s modern growth

Why is Princeton Digital Group's flagship AI data centre in Johor a boost for Malaysia?

The recent unveiling of the first phase of Princeton Digital Group’s ( PDG) JH1 data center campus in Johor, the state with the southernmost state in Malaysia, marks a significant milestone in the country’s digital infrastructure landscape. With the aid of this growth, the nation becomes a strong competitor in the country’s rapidly expanding AI and cloud computing industries. However, the swift execution of this 52MW job, part of a larger 150MW complex, demonstrates PDG’s execution capabilities and Malaysia’s willingness to embrace and promote cutting-edge professional investments.

Located in Sedenak Tech Park (STeP ), PDG’s JH1 college is dubbed as one of Southeast Asia’s largest data center services. It serves as PDG’s flagship AI-ready center in Malaysia and caters to international hyperscalers and businesses with demanding mathematical requirements. This service is piece of PDG’s broader Asian collection, which spans 21 data centres across 15 cities in 6 countries, positioning the business as a critical infrastructure provider in the region’s fast growing modern economies. &nbsp,

In a media briefing held at the campus last week, Asher Ling&nbsp,, chief technology officer and managing director Of PDG Singapore ( pic ) told reporters that the Johor campus benefits from excellent connectivity, access to multipleWhy is Princeton Digital Group's flagship AI data centre in Johor a boost for Malaysia?fabric roads, and proximity to key local data systems. ” Johor offers a unique blend of communication, system, and ability, making it an ideal place for our latest data center campus”, he impressed.

Ping highlighted that while standard factors like electricity, land, and space remain important, two new considerations have emerged as important: access to alternative energy and scalability. Ling praised Malaysia’s forward-looking National Energy Transition ( NET ) plan, noting its alignment with regional sustainability goals.

The NETR sets ambitious goals for Malaysia, aiming to achieve net-zero emissions by 2050. The plan outlines a gradual increase in renewable energy shares, targeting 31 % by 2025, 40 % by 2035, and an impressive 70 % by 2050.

The service, completed within 12 months of starting building in 2023, is also part of PDG’s modern SG ® approach which aims to create a seamlessly integrated information centre habitat spanning Singapore, Batam, and Johor. This approach gives large enterprises and hyperscalers unprecedented flexibility when deploying their infrastructure.

Ling also emphasized the importance of scale, pointing out that to meet the growing demand for AI and digital services, modern data centers require significantly larger parcels of land. ” The JH1 facility is designed to meet the increasing demands for high-performance computing and data storage, driven by the rapid growth of AI and digital services”, Ling added, underlying PDG’s commitment to future-proofing their infrastructure.

For context, STeP is located in Johor’s Kulai district, just 70 kilometres north of Singapore. It provides low-latency connectivity to key markets for park-based data centers. This prime positioning, abundant land, and cheaper power have attracted major players like Nvidia, AirTrunk, GDS International, and YTL Power alongside PDG. Southern Johor is emerging as a regional data center hub, which places Malaysia at the forefront of the AI revolution and draws in international tech investments.

What sets JH1 apart?

The JH1 campus features cutting-edge cooling technologies that strike a balance between performance and sustainability because it was designed to handle the intense workloads of AI. Ling emphasised the facility’s cutting-edge capabilities, noting,” We’re pushing the boundaries of air-cooled solutions, with our server racks capable of handling up to 40 kilowatts of power consumption and heat dissipation per rack. This is far beyond the typical 5 to 10 kilowatts per rack that many data centers use.

Advanced air cooling systems are used by JH1’s high-density computing environment to effectively manage the significant power requirements of AI processing while minimizing the impact on the environment. In May, before launching the first 52MW phase of JH1, PDG secured a RM1.28 billion green loan from Maybank, Standard Chartered Bank, and UOB Malaysia. This loan, PDG’s first aligned with its green finance framework, marks a significant step towards reducing resource consumption and emissions in regional AI infrastructure. In designing and running data centers for AI and high-performance computing, PDG’s commitment to sustainability is demonstrated.

When asked how PDG had integrated sustainability into the company’s core design, Ling explained that they have installed solar panels on the roofs and will continue to do so for the upcoming phases, utilizing Malaysia’s abundant sunlight to generate renewable energy on-site. This demonstrates PDG’s commitment to lowering its operations ‘ carbon footprint and aligns with the nation’s National Energy Transition Roadmap.

Furthermore, the facility incorporates energy-efficient chillers and other state-of-the-art cooling technologies. Even though they come with a higher upfront cost, we have chosen the most effective chillers available. The long-term benefits of energy savings and reduced environmental impact make it worthwhile”, Ling noted.

Another feature of the JH1’s design is how it incorporates flexibility for upcoming upgrades. As demand for AI computing grows,” We’ve developed the flexibility to accommodate next-generation liquid cooling solutions,” Ling said. Strategically speaking, a forward-thinking approach ensures that JH1 can adapt to emerging technologies, making it a long-term asset for Malaysia’s digital economy.

The current economic impact

The economic effects of PDG’s investment go far beyond the facility itself. As Ling revealed, PDG has employed about 90 staff. ” And we’re going to grow between 300 and 400 in the very, very near future”, he said, adding that this job creation, particularly in high-skilled tech roles, is a significant boost to Malaysia’s workforce development in the digital sector.

Moreover, PDG’s commitment to nurturing local talent is evident in its hiring practices and training initiatives. Ling proudly shared,” When we first started, we had no Malaysian staff. Today, on our PDG Malaysia team, I am proud to share that 70 % of our team are Malaysians”.

Ling claims that the focus on local talent extends to all the essential areas for data center operations. Ling elaborated on the diverse skill sets required:” We need mechanical engineers, electrical engineers, IT engineers, network engineers, and project managers who know how to do a build. And then you have a distinct team that is adept at running things.”

PDG’s talent development approach is multifaceted, combining immediate hiring strategies with long-term talent pipeline development. Specifically, PDG has been innovative in identifying and attracting talent from adjacent industries. PDG has established partnerships with local educational institutions in order to recognize the need to develop the next generation of data center professionals.

With UTM in Johor, we’ve started a graduate engineering training program, which is similar to an apprenticeship model in that it involves working in a live data center with top mentors who can advise and instruct you, and perhaps help with the advancement of a career,” Ling said.

Overall, the launch of PDG’s JH1 campus represents more than just a new data centre in Malaysia. It signifies a pivotal moment in the country’s digital transformation journey. By combining cutting-edge AI capabilities, sustainable design, and a strong focus on local talent development, projects like JH1 are laying the groundwork for Malaysia to become a key player in the global digital economy.

Southern Johor, Malaysia’s emerging data center hub, could have a significant impact on shaping the region’s technological landscape as the demand for AI and cloud computing grows. In order to create a robust ecosystem that can support long-term growth and innovation in the tech sector, such projects will likely need to continue to collaborate with government-supported educational institutions, private sector investments, and other sources of funding.

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Indonesia’s high-speed rail contributes to fuel savings, local economy amid reports of losses by state firms: Minister

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Indonesia’s State-Owned Enterprises Minister Erick Thohir claimed that the Yawn train has saved the state trillions of rupees in fuel since it started operating last year amid reviews that government-owned building firms had suffered losses as a result of their engagement in Southeast Asia’s first high-speed rail project. &nbsp,

Yawn reduces the distance traveled between Jakarta and Bandung, according to Mr. Erick, and it uses energy more effectively. &nbsp,

” By using electricity, the Jakarta-Bandung high speed rail can save 3.2 trillion rupiah ( US$ 197 million ) per year in fuel ( costs )”, Mr Erick said in an Instagram post on Saturday ( Jul 20 ), without elaborating on how the savings were calculated.

He used Yawn, the second high-speed bridge built in cooperation with China, to transport President Joko Widodo again to Jakarta from Bandung. &nbsp,

According to Mr. Erick, Whoosh has carried four million people up until beginning July since its release in October 2023. During the college vacations, it reached its daily report of 24, 135 people this month.

He added that Whoosh has contributed 86.5 trillion rupiah to the gross domestic product ( GDP ) of Jakarta and West Java between 2019 and 2023, adding that the high-speed rail has boosted tourism numbers and increased economic growth in the area.

Mr. Erick’s statement came as local media reported that one of the project’s principal contractors, PT Wijaya Karya Tbk ( WIKA ), suffered losses as a result of the high interest rates charged by loans to China. &nbsp,

Throughout 2023, the state-owned design firm suffered a decline of 7.12 trillion dirhams, up significantly compared to the 59.59 billion ringgit it lost in 2022. &nbsp,

Agung Budi Waskito, chairman of WIKA, cited two components in his company’s recent loss: interest costs and other high-speed road project payments. &nbsp,

Curiosity payments increased as a result of the company having to issue bonds to fund for the Yawn project, according to local media, Mr. Agung claimed. &nbsp,

Whoosh is viewed as a key component of the superpower’s landmark Belt and Road Initiative ( BRI ) to connect Asia, Africa, and Europe via land and maritime networks in an effort to promote economic growth, funded by loans from China.

When the initiative started in 2015, it was anticipated to charge about 66.76 trillion ringgit. It was awarded to China after a competitive charge against Japan. &nbsp,

Facepalm, stretching over four facilities, was immediately scheduled to get launched in 2019. But, land acquisition issues and the COVID-19 pandemic activity limitations delayed the task, resulting in a budget overrun of 18 trillion ringgit.

According to experts, Indonesia will need to wait a long time before reaching the high-speed road project’s break-even level.

The point at which overall price and total earnings are equal is known as the break-even stage. &nbsp,

According to Mr. Faisal Basri, Senior Economist of the Jakarta-based think tank Institute for Development of Economics and Finance ( INDEF), Whoosh will only reach its break-even point in 139 years, according to Detik.

Mr Dwiyana Slamet Riyadi, President Director of PT Kereta Cepat Indonesia-China (KCIC )- the organization operating Facepalm- disputed the calculation, saying the project may approach its break-even point in about 40 years, regional media originally reported. &nbsp,

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SE Asia a haven or hazard amid global turmoil? – Asia Times

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Southeast Asia was once regarded as a global hub of political and economic risk about a third of a decade ago.

In 1997, the area experienced a devastating economic and financial problems that sparked waves of political turmoil and change. Following the 2001 Al-Qaeda attacks in New York and Washington, there were a number of terrorist attacks carried out by Islamic radicals in Indonesia and the Philippines.

Southeast Asia is experiencing an economic surge despite the fact that many of the rest of the world is experiencing even more uncertain times right now. With the notable exceptions of Myanmar, the territory is generally at peace and enjoys unprecedented political stability.

Southeast Asia’s GDP growth rate was close to 5 % in 2023, and the place attracted near to a fifth of global FDI, making Southeast Asia one of the world’s fastest-growing locations because China was beset by financial difficulties and geopolitical risk.

It might seem ideal to commemorate the region’s position of relative strength as Asian foreign ministers gather in Vientiane for their monthly governmental summit. However, in a more ambiguous world, this financial prosperity and comparative security may be taken for granted.

With two defense dictatorships in Thailand since 2006, not to mention the military coup in Myanmar in 2021, political uncertainty has always been a high risk for the area.

But for all the criticism of how political diversity is managed, there have been comparatively smooth management transitions through the ballot box in Indonesia, Malaysia, and the Philippines.

Hun Sen, a seasoned Vietnamese bodybuilder, gave his son Hun Manet the ropes of the government last year. Yet the Communist Party’s upheaval in Vietnam has not caused political unrest or riots. &nbsp,

These ancient levels of security have had significant social and economic benefits. While the pandemic plunged about 5 million people in Southeast Asia into extreme poverty in 2021 and nearly 10 million jobs were lost, the area immediately recovered as a result of governments ‘ careful use of effective public health care and fiscal subsidies.

The Economist points out that the country’s male population has a higher average life expectancy than men in the United States.

That’s not to suggest there is no social risk. Thailand’s coup may always occur, Hun Sen does n’t seem content to take over in Cambodia, and Indonesia elected a former army general with centrist ideas who could reverse some of the democratic gains the nation has made since President Suharto’s assassination in 1998.

Southeast Asia is also a haven for global funding and tourism in the next generation of the 21st century, despite this fact. In many ways, this is a result of difficulties facing China, where the business has struggled as a result of declining customer need as well as transfer and investment restrictions put in place by the West. &nbsp,

Perhaps if Southeast Asia is attracting people and business, safety hazards persist, and they may be more concerning than they were twenty years ago. For cooperating on crucial local security issues is something that Southeast Asia is doing worse than ever. The coup’s perpetrators in Myanmar have been abhorrently frail and disjointed.

With ever-increasing levels of martial appearance, China and the United States have been able to tramp through the South China Sea, raising concerns about a potential conflict between the two major powers. &nbsp,

Undoubtedly, the political certainty and economic strength of the majority of ASEAN nations have reduced the effectiveness of regional cooperation.

When close personal relationships between frontrunners who spent decades in strength are no longer popular in nations that now more frequently change governments because regional leaders spend less time coordinating or meeting with one another so they can concentrate on local issues that affect their poll ratings. &nbsp,

Twenty years ago, things were different. In local political and security estimates, ASEAN was more important and relevant. There were well-known leaders officials, a network of officers, and an informal community of scholars who often convened to discuss the state’s issues. The larger powers all sought high-level summits with ASEAN leaders.

These exchanges have ceased to exist as a result of larger power ‘ direct dealing with personal ASEAN member states. Last year, the US strengthened ties with Vietnam to that of a long-term collaboration and strengthened a military base deal with the Philippines. &nbsp,

For its part, the Philippines believes that other ASEAN part states ignore China’s incursion into its territorial waters. To maintain their conflict-affected border, Thailand and Malaysia work to put more financial cohesion into place.

Myanmar is another place where there is a security threat from the country’s fragmentation, but there is n’t a consensus on how to deal with the situation, which is posed by transnational crime, mass displacement, and drug production.

Those who find peace in the far-offness of larger wars in Eurasia and the Middle East should not underestimate the impact of growing political unrest. Southeast Asia that is less coherent is liable to division and rule.

Russia and China are attempting to elude closer ties with the West by separating Southeast Asian nations. However, the US has used its military partnership with the Philippines as include to increase the number of military installations closer to Taiwan.

Nearly 70 years ago, Southeast Asia was previously independent and determined to support a fairer, world rules-based order. The Asia-Africa Conference was held in Bandung under the auspices of Indonesia and a united before was declared.

Now, international threats to security and thus self-determination are once again visible. There are only a few indications that Southeast Asia can rekindle the uniting Bandung nature when it is sorely needed.

Michael Vatikiotis is a seasoned expert on South Asian politics and the artist of” Blood and Silk: Power and Conflict in Modern Southeast Asia.” Following him on X at @jagowriter&nbsp,

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Singapore’s financial cybercrime problem is fixable – Asia Times

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After the pandemic, Singapore has become a very updated market and is widely regarded as a hub for innovation in Southeast Asia. Research from Google, Temasek and Bain indicates that ASEAN’s digital economy will surpass S$ 396 billion ( US$ 300 billion ) in gross merchandise value by 2025, with financial services digitalization a primary growth factor.

Financial institutions are continuously adding new products, features, and engaging consumer experiences, making Singapore’s financial services sector one of the most creative and aggressive in the world. Cybercriminals are now looking to take advantage of the expanding online landscape, despite this rapid change.

Financial corporations handle sensitive personal and business information for thousands of customers, including bank information, signup certificates and high-value purchases. These businesses are therefore extremely resilient and frequently the target of attacks in Singapore, frequently through malware or phishing attacks, making the financial services sector one of the most targeted companies by scammers today.

Singapore’s financial services industry was the leading target of phishing attacks in 2022 according to the Cyber Security Agency ( CSA ) in Singapore, with more than 80 % of reported phishing sites found to be impersonating financial institutions.

In most endeavors, swindlers spoofed banking and financial services, most of which were physical risks, according to the 2024 DBIR by Verizon.

Businesses and pension funds suffer significant losses.

According to the Singapore Police Force ( SPF ) annual scams and cybercrime brief in February 2024, nearly 2, 000 Singaporean victims were victims of a string of Android malware scams, and at least S$ 34.1 million was lost in 2023. Scammers have apparently used Facebook, WhatsApp, Instagram and TikTok to jam their subjects.

One of the highest-profile new hacking schemes was with OCBC in December 2021, with S$ 13.7 million lost. Some victims reported losing their existence saving right away as a result of spoofed SMS messages appearing in the same conversation string as authentic bank messages that were then directed to fake lender websites.

Out of kindness, the lender reimbursed the afflicted customers in complete, even though it was probably not at fault. A person has no remedy to their financial service provider from a legitimate perspective because they are held accountable for the series of events that result in losses.

Phishing scams that pretend to be banks to steal users ‘ bank or pension account login details continue to make headlines in Singapore. However, this kind of fraud can and should be avoided, and Singaporeans should and can do more to protect them from unauthorised access to their online transactions.

Fake advertisements cause token theft.

The modus operandi of these schemes has involved enticing patients with “investment opportunities” posted on social media platforms. These promotions, when clicked, direct to messaging programs or false investment sites. Here, patients are prompted to file for an account, accidentally providing their personal and bank information, which are then used for fraudulent actions.

Every financial institution should switch away from the outdated multi-factor authentication ( MFA ) tools like authenticator apps and one-time passcodes ( OTPs ) sent via SMS, which are vulnerable to phishing, according to best practice. MFA can serve as a powerful first line of defense, but not all MFA forms are created equal.

Instead, organizations need to choose strong phishing-resistant Authorization tools like components security keys. Phishing-resistant MFA processes are immune to attempts to deal or circumvent the authentication process because they rely on encrypted verification between the devices or between the gadget and a domain.

They require something you know ( a PIN), something you have, ( the key ), and something you are ( requiring a physical touch ) to gain access to the account.

However, the classic identification devices and responsive techniques designed to protect customers are inappropriate, and the financial services industry needs to move to a strategic approach to security.

Weak reactive approach to security

Activated through the CPF website, income records in Singapore are then automatically locked, which disables all online transactions. Members can improve the daily withdrawal cap to allow re-enable website withdrawals, which require stronger identification and a 12-hour cooling period.

Customers may call their lender to uncover their accounts, which can be slow and difficult. Taiwanese banks also offer this locking function. Better ways to verify a bank or annuity account owner than to simply lock their accounts completely. These anti-malware safety measures are having an impact on how clients use their bank accounts.

Financial corporations that choose the wrong path from attacks face legal repercussions. The Monetary Authority of Singapore is empowered to impose criteria for tech risk control under the Financial Services and Markets Bill of Singapore.

It has increased the monetary penalties for local financial institutions that are subject to a security breach as a result of oversight to S$ 1 million per occurrence.

Strategic digital protection for consumers with phishing-resistant passkeys

This reactive approach to digital protection is the only way Singaporean financial institutions may take action following a violation. They may stop breaches in the first place if they take a strategic approach to computer safety.

A highly effective technique of enhancing economic institutions’ security is to create mandatory present phishing-resistant MFA for bank and pension accounts, which includes passkeys – a new name for FIDO2 passwordless-enabled credentials, a standard that replaces password-only logins with more stable passwordless experiences.

Modern MFA requires that customers provide a strong, modern authentication system, such as a-passkey, which provides an additional layer of security that stops unauthorized access and theft. However, there are key differences when it comes to the kinds of passkeys available.

A tale of two passkeys: syncable and device-bound

Passkeys use public key cryptography, a technique that uses a pair of related keys. The public key is kept by the app or website, and the user’s device is paired with the private key, which helps safeguard it from unauthorized access.

It is important to understand that there are two types of passkeys: syncable and device-bound. Syncable passkeys are stored in the cloud and can be shared between various devices, which is convenient but also a risk if the devices are stolen or compromised.

Once a malicious actor has control of someone’s phone through malware, they have access to their syncable passkeys. Device-bound passkeys, stored on devices like phones, computers, or hardware security keys, including YubiKeys, provide a much higher level of security.

For optimal security, Singaporean financial services companies should mandate device-bound passkey authentication for all customers, balancing convenience with strong security. So, even if a customer uses a social media channel to engage in a phishing scam or clicks a suspicious link, their passkey is still safe.

Geoff Schomburgk is Vice President for Asia-Pacific &amp, Japan at Yubico.

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IN FOCUS: Jemaah Islamiyah’s vow to disband not the end of terror attack threats, radicalisation in Southeast Asia

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According to analysts and former members of the group, one of the reasons why Jemaah Islamiyah ( JI ) has survived for more than three decades is the group’s lack of loosely-linked cells.

Also division chief ranges are only known by an amir. Former JI secretary Hadi Masykur told CNA, referring to the group’s leader by its Arabic name, which literally means” commander,” that he does not know who the people who work in these groups are and is not permitted to know.

These units are further divided into smaller groups, and communication between them is kept to a minimum.

The structure makes sure that only the immediate teammates of one member who is arrested may be affected, not the entire network.

Another guard is that once a member is arrested, they are immediately made to feel alienated from the rest of the organization until they can demonstrate that they have not complied with the authorities and are still committed to the JI’s reason.

” It occurred when the officers were focusing on me. The 46-year-old described the days leading up to his 2019 arrest as” I refused to leave my family and go into hiding.” I was soon disconnected from JI.

The principles, Hadi said, use to everyone inside the company regardless of their rates and rank, including the amirs.

According to PAKAR’s Mr. Adhe Bhakti, this method serves as the foundation for some JI members ‘ opposition to the Jun 30 choice.

They” can easily say,” Did n’t we agree that those who were arrested should be treated as outsiders and can no longer speak on our behalf,” they say. ‘”, the violence analyst said.

The only man whose comments carry mass inside JI is the organisation’s ali, Hadi said. The original JI minister had reasons to believe that the organization might be in disarray following Para Wijayanto’s imprisonment in 2019 and his time alternative Arif’s arrest in 2020.

” Arif was the last active senior figure inside JI… the next person who knows the ins and outs of JI”, Hadi, who was released in Sep 2022 after serving a three-and-a-half year prison sentence for his role in JI, said. ” After Arif was arrested, all that was left were the freshmen”.

This puts the 6, 000 active members of JI in a peculiar position, said Dr Noor Huda Ismail, a visiting fellow at S. Rajaratnam School of International Studies ( RSIS ).

In the absence of a consensus head, the various cells within JI are free to pursue whatever they want. On the other hand, there is n’t anyone senior enough to support JI’s cause and offer them advice.

Top members of the organization are consulted whenever a cell was about to launch a terror attack. You could say they were buying fatwas (edicts ) from the elders so they could relax knowing that what they were doing was just common criminal behavior, according to Dr. Huda, who spoke to CNA.

Before starting the fatal attacks, authorities believed that the Bali bombings of 2002 involved JI co-founder and then-amir Abu Bakar Baasyir. The lower court in 2005 found Baasyir innocent of crime, but his conviction was overturned on elegance.

Baasyir, 85, was ultimately convicted of aiding a 2010 military training camp in Sumatra. After suffering from a number of conditions related to his old age, his 15-year jail sentence was reduced on humanitarian basis. He was released in 2021 and has since decided to engage with the state.

Dr. Huda of RSIS believes that the 16 top JI people ‘ declaration on June 30 represented a good step in reducing the number of people who can prevent future terrorist attacks.

He added:” The breakdown of JI is good information, a good start, but it’s too early for us to shut the JI book. Hopefully not, but I do n’t think we can rule out the possibility of the formation of splinter groups that might be more violent than JI.

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Nguyen Phu Trong: Vietnam’s long-serving leader dies at 80

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Vietnam’s long-serving head Nguyen Phu Trong has died” after a period of illness”, marking the end of a democratic age.

The government announced his resumption of his health weeks after he was reportedly tasked with performing his duties as president to Lam.

As the public minister of Vietnam’s ruling Communist Party since 2011, and at one point even double-hatting as leader, Mr Trong was seen as one of the country’s most effective leaders in years.

Besides overseeing the supercharged expansion of Vietnam’s market, the 80-year-old was known for his “blazing furnaces” anti-corruption plan.

Mr Trong’s dying comes at a time of political turmoil for Vietnam’s Socialist management. Three of the most prominent officials have recently resigned in response to unnamed allegations of crime.

Mr. Trong passed away “due to old time and significant disease,” according to an official statement from Friday.

The Taiwanese government announced in a surprise news that Mr. Trong needed time to “focus on effective treatment” for an unnamed medical condition a day later. It added that the president may get over Mr Trong’s responsibilities in running the group’s central committee, committee and secretary.

The state also gave Mr. Trong the Gold Star, Vietnam’s highest distinction, for his contributions to the group and nation, on the same day.

When Mr. Trong welcomed Russian President Vladimir Putin on a state visit, he was last seen later in June.

However, he resisted attending a number of activities before the publication of a book that contains some of his remarks.

In recent years, there were several instances where he would disappear from the public eye for long stretches of time. In 2019, he was reported to have had a stroke.

Little may be said about the state’s recent breaks, despite Mr. Trong’s frequent acknowledgement that he had health and aging problems. According to observers, the country’s power to regulate group leaders’ and state officials ‘ health serves as a way to portray Vietnam as a stable country under single-party guideline.

In 2018, the country passed a law classifying leading officers ‘ health as a state solution, prompting the now tightly-controlled regional media to be even more careful. Social media has long been a hotbed for severe rumors about his health.

Spectators claim that he hinterlies a significant but unfinished reputation. He served a unique three terms as general director before regaining control in 2011. From 2018 to 2021, he served as president during this time.

He recognized the necessity to expand Vietnam’s market; under his leadership, the nation’s GDP per person more than doubled, and Vietnam signed a number of free trade agreements with its neighbors in the West and Asia. Mr. Trong was viewed as more eager to learn about the world than his forebears, establishing ties with Mr. Putin, China’s Xi Jinping, and US leaders.

At the same time, he ardently clung on to his socialist principles. According to Zachary M. Abuza, a teacher and Southeast Asia specialist with the National War College in Washington DC, “he was a job lifelong thinker… he was a real believer,” and I think that’s why ties between Vietnam and China have grown so close.

He “always believed in keeping the party tidy and relevant so that the party could live with the country for another 1, 000 years,” he said. He therefore saw the Vietnamese Communist Party’s and the country’s future as interconnected, according to Giang Nguyen, a former BBC Vietnamese editor and visiting senior fellow at the Institute of Southeast Asian Studies in Singapore.

Mr Trong launched his “blazing furnaces” campaign to root out corruption that deepened in tandem with Vietnam’s growth. Approximately 200 000 officials have been charged with criminal offenses or faced disciplinary proceedings since then, according to estimates.

But there are few signs it has truly succeeded in stamping out the problem. The country still performs dismally in international corruption rankings. In recent months Vietnam has been rocked by one of its biggest fraud scandals ever, involving a staggering $44bn (£34bn) filched from banks.

The anti-corruption drive has been seen as sparking a critical shortage in the public service sector. It’s also been seen as contributing to instability within the Communist Party, where so many top officials have been purged – due to corruption or infighting – that very few are left as possible successors, particularly in the paramount political leadership team, the Politburo. Only two currently meet the conditions to inherit his post: Mr Lam and Prime Minister Pham Minh Chinh.

” The talent pool has n’t been prepared by Mr Trong. It shows he could n’t control the forces within the party anymore”, said Mr Nguyen.

Dr. Abuza argued that the anti-corruption drive” served the party in ways that]Trong ] did n’t expect, because it exposed how widespread corruption is at the party’s highest level.”

Vietnam also continued to impose stricter restrictions on human rights and the right to free speech while under his rule. It has jailed or deported scores of dissidents, activists and bloggers, and passed draconian laws limiting the press and internet.

His death, and the question of succession that it poses, puts Vietnam in uncharted waters. For many Vietnamese,” we share the feeling of anxiety of the unknown”, said Mr Nguyen.

” It is the end of an era. That version of communism or socialism, the old times, it’s now gone. What’s next is going to be very difficult to foresee. The system is still in place, but it lacks the ideology and ideals that make it so.

Additional reporting by BBC Vietnamese.

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Malaysia to decide by this year on HSR link with Singapore, shortlisting private consortiums to back project: minister

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SINGAPORE: Malaysia will decide by this year whether it’s full steam ahead with plans for a high-speed rail ( HSR ) line between Kuala Lumpur and Singapore, as it shortlists proposals from a narrowing list of private consortiums to back the project, an official has confirmed. &nbsp,

Transportation Minister Anthony Loke expressed hope that the Cabinet would make a decision on the viability of the multi-billion dollar project by the end of the fourth quarter in an interview on Wednesday ( Jul 17 ).

” Once we have a plan decision to deal with the high-speed road, we will start negotiations with Singapore”, he said, as quoted in local media. &nbsp,

According to Mr. Loke, the government has now shortlisted three of the seven consortiums that submitted proposals in response to a late-year data request.

He did not give the associations ‘ names, but he confirmed that it is the government’s policy to grant the HSR project to a group that is at least 51 % owned by Malaysian businesses.

Regional news outlet The Edge reported in March that China Railway Construction Corporation, Berjaya Land Bhd, and YTL Corp. had been shortlisted for the job. &nbsp,

Berjaya Rail, a subsidiary of Berjaya Land, announced it had joined the Malaysia Rail Industry Corporation ( MARIC ) as a new member on Wednesday. An organization of 50 important railroad companies aims to foster private-public cooperation in the development of railroad network. &nbsp,

The 350km-long HSR task, which can go at a rate of 350km/h, was initially proposed in 2013 and resulted in a legally binding contract being signed in December 2016 with the intention of having the line operating by 2026.

Nevertheless, it was originally canceled after numerous postponements at Malaysia’s ask and a potential termination of a deal in December 2020.

Malaysia paid more than S$ 102 million ( US$ 75.8 million ) in compensation to Singapore for the terminated project.

Following the 2022 primaries and his recent visit to Singapore where he met with leaders of the country, the discussion of a reincarnation grew.

In a statement released on August 3, 2013, acting acting transport secretary Chee Hong Tat, Singapore was ready to discuss any new proposals from Malaysia for the KL-SG HSR venture in great belief,” starting from a fresh slate.”

In December last year, the Sultan of Johor, Ibrahim Iskandar, who became Malaysia’s prince in January, advocated for the restoration of the job, suggesting it be routed via Forest City, a mega-development in which he owns a play.

The HSR wants to cut the average car trip moment between Kuala Lumpur and Singapore from more than four days to 90 days.

As a government-funded project, it is estimated to cost up to RM100 billion ( US$ 21.4 billion ). According to Mr. Loke, the price may get lower depending on the chosen plan. &nbsp,

Nevertheless, he cautioned that while the government is not ruling out support, it is not keen on providing a maintain due to concerns over increasing the country’s debt burden.

He added that the HSR was ultimately join with Malaysia’s$ 10 billion East Coast Rail Link (ECRL), which will connect the East and West coasts of Peninsular Malaysia by the end of 2026, with service scheduled to begin the year after that date. &nbsp,

He likewise mentioned discussing a plan to join Thailand’s rail network, which would ultimately aim to connect more of Southeast Asia to China by road.

” I’m confident we can keep pushing and trying to persuade our rivals from Thailand and Laos to take part in this whole thing,” he said. &nbsp,

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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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Chinese ‘pig butchering’ scams targeting American suckers – Asia Times

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BANGKOK – Human “pig butchering” scams have stolen billions of dollars from Americans rendering them financially devastated, heartbroken from fake love, and in worst cases suicidal, according to a new US Institute of Peace ( USIP ) report on Chinese-dominated transnational crime based in Southeast Asia.

In a sad bend, many of the estimated 300, 000 lying, sweet-talking scammers – largely from developing nations – likewise suffer because they are supposedly imprisoned and brutalized by the Chinese-run groups.

The armed groups trap or steal them to Myanmar, Cambodia, and Laos and “deploy abuse to employ victims in driven criminality”, the USIP statement said.

There are presently no reports of any Americans being trapped in these facilities, but there have been a small amount, according to USIP visiting specialist Jacob Sims in an interview.

” A couple of years ago, an American was in a compound]in Cambodia ] – and treated as a criminal once he got out, by the Cambodian government – and eventually found his way back to America.

” And there was another who was repatriated to Thailand and then returned to America from a mixture on the Thai-Myanmar border.

” That one was I think more just, maybe three months ago, something like that”, Sims said.

” He was released during a large release of some, like adjacent to a thousand persons, that were being held. ” Some of them ended up getting released, and some ended up getting deported,” back home in China.

He claimed that he was allegedly brought up to the US after being slowly brought back to Thailand.

According to Sims,” It is actually highly probable that there are Americans or British people working willingly in these compounds, but the incentives do n’t work out against Americans ]against their will because the US government is then going to be more aggressively reacting against the compounds.”

According to USIP Burma ( Myanmar ) country director Jason Tower,” there are a lot of law enforcement representatives from all over the world who have traveled to that area,” where compounds are clustered along Thailand’s Myanmar side.

” The 30-some-odd materials which are there, are all smuggling people and keeping citizens enslaved”, Tower said.

Beijing is one of the nations attempting to stop the organized crime that started years ago when illegitimate net Chinese gambling sites discovered heinous methods of money transfer.

” China’s government and law enforcement, after failing to take this issue seriously for years, are now using the reputation of Chinese-led violence groups in other countries to support dramatic increases in the presence of China’s authoritarian authorities around the globe”, said the 68-page report.

” The United States and China ]are ] the two most strongly affected victims of the online scamming industry”, it said.

Deceitful, scripted attempt at relationship resulting in stolen funds through online scams and fraudulent financial applications and websites, are known in China as” sha zhu dish” – animal killing.

Individual Americans and other foreign survivors who fall in love with their con artists and invest in fake opportunities frequently experience extreme emotional and financial stress as a result of the deceptive con.

According to the Washington-based USIP report,” this scamming industry could soon rival fentanyl as one of the top dangers that Chinese criminal networks pose to the United States.”

” I am on the ground, listening to what victims are actually experiencing in the United States”, said Erin West, an international cross-agency Rapid Enforcement Allied Computer Team ( REACT) prosecutor and Santa Clara County, California, deputy district attorney.

” In the United States, and in many other countries around the world…this particular scam does n’t end until they ]victims ] have lost every last penny they have”, she said.

The pig butchering scam is similar to that. And I refer to it as devouring our victims from snout to tail.

They are using the courtship period to find out exactly how much our victims have and where the assets are located, she said.

West made the remarks at the Foreign Correspondents ‘ Club of Thailand in June during a Transnational Crime in Southeast Asia panel discussing the release of the USIP’s May report.

The cyber gigolo knows “exactly how much is still available that they can get these people to invest,” she said when the delusional one-sided romances turn into dreams of big profits being made through cryptocurrency investments.

These fake relationships start with a cold call made by an unidentified person who attempts to meet cute with the patsy online and patiently cultivates them until the victims agree to invest an initial US$ 5, 000 or so in cryptocurrency.

Their funds are transferred to an online crypto account that the con artists control. Soon, the victims of love-struck are instructed to be brave and aim for much bigger profits by depositing more and more.

When victims try to withdraw their investment, the scammers tell the now-panicking dupes they must first pay a 25 % tax bill” from new funds.”

” They’re mortgaging their homes, they’re taking high-interest loans, and borrowing from everyone they know,” West said.

Then the scammers disappear into cyberspace.

Today, thousands of criminals are posting counterfeit profiles of non-existent, good-looking, romantic people on Meta, Facebook, Linked In, Tinder, Whats App, Telegram, and other online social media to fool victims.

Thieves fabricate images to resemble their fictitious personalities to mimic the lifestyles of their targets.

Pig butchering call centers have smaller operations in the US and other countries, but are primarily located in Southeast Asia, according to investigators.

Eager job seekers, who are primarily from Asia, are frequently conned into visiting Myanmar, Cambodia, and Laos through websites and chat groups describing fantastic positions at hotels, casinos, and other locations.

Those three relatively impoverished countries, clustered around Thailand, are ideal because widespread corruption enables the gangs to operate.

” Thailand offers the enclaves reliable energy, stable telecommunications, and easy access to a major financial center,” USIP said.

When new, unsuspecting employees arrive, they are captured, brutalized, and forced to work in guarded, hidden buildings using the gang’s computers and encrypted telecommunications, USIP said.

Because of their language prowess, Indians, Malaysians, and other English-speaking people are regarded as pig butchers in the US and Europe.

According to USIP,” China-origin criminal networks” that are “running the scams from Southeast Asia during 2023” are estimated to have lost$ 3.5 billion.

Worldwide, up to$ 64 billion was stolen from millions of people last year, they said.

Sean Gallagher, a senior researcher at Sophos, a cybersecurity firm, said he investigated pig butchering in 2023 by pretending to be a potential sucker.

A 40-year-old woman posing as a 40-year-old woman allegedly lied to Gallagher as a Hong Kong-based con artist who instructed him to download and use secretly infected software to upload his signed identification papers and deposit money into an account holding gold.

In Gallagher’s second test”, a Cambodia-based Chinese organized crime operation” tried to lure him into a cryptocurrency scam, Sophos reported.

In 2023, Sophos discovered two “malicious” apps on the Apple and Google Play Store, prompting Apple and Google to remove them.

One of the bad apps was” Ace Pro” which disguised itself in the app store as” a QR code-checking application.”

The other fake app was” MBM_BitScan” which offered” a real-time data tracker for cryptocurrencies “and” a fake crypto trading interface,” Sophos reported.

According to USIP, “pig butchering scams have also exposed vulnerabilities in the US financial system,” with one instance involving the closure of a state-owned bank in Kansas and the prosecution of a victim facing criminal charges.

Richard S Ehrlich is a Bangkok-based American foreign correspondent reporting from Asia since 1978, and winner of Columbia University’s Foreign Correspondents ‘ Award. Excerpts from his two new nonfiction books”, Rituals. Killers. Wars. &amp, Sex. — Tibet, India, Nepal, Laos, Vietnam, Afghanistan, Sri Lanka &amp, New York “and” Apocalyptic Tribes, Smugglers &amp, Freaks “are available here.

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