First Apple Store in Malaysia opening in June in Kuala Lumpur

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Travel Jun 22, 10am, Apple will have its second retail store in Malaysia. The tech giant announced the announcement on its website on Wednesday ( May 29 ) that the store will be located at the Kuala Lumpur Exchange TRX mall.

The information on the website just said:” We are getting ready to start our&nbsp, primary Apple Store in&nbsp, Malaysia. We ca n’t wait to see you. Jom”! and listed the name of the new business. &nbsp,

Due to delays, the store’s initial schedule was set for February. &nbsp,

Apple has n’t yet revealed what the store’s interior will look like, but according to Malaysian technology site SoyaCincau.com, the roof has a roof similar to a tudung saji, which refers to the traditional food cover that is found in numerous Malaysian properties. &nbsp,

Apple’s appearance in Southeast Asia will be expanded by the new store opening in Kuala Lumpur, which already has locations in Singapore and Thailand. &nbsp,

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Grab announces collaboration with OpenAI to ‘build and deploy advanced AI solutions’

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SINGAPORE: Tech firms Grab and OpenAI announced on Thursday ( May 30 ) that they will” collaborate to build and deploy” advanced artificial intelligence ( AI ) solutions.

Grab said the partnership is the&nbsp, first of its kind for OpenAI in Southeast Asia and that it would get OpenAI’s resources to “partner on options” for people in the region.

This will be focused primarily on three places: Accessibility, user support and mapping.

” Get will make use of state-of-the-art language and tone capabilities to produce Grab’s services more accessible to all users, especially the visually impaired or the elderly who may otherwise find it difficult to navigate the on-screen app interface,” said the company.

Additionally, it may look into using AI to create chatbots for customer service that “better understand user problems and help overcome them more quickly.”

Through greater technology and higher-quality data extraction from physical images, Grab will” seek to use OpenAI’s vision capabilities” to improve its map-making efforts.

” This means GrabMaps may be updated yet faster, delivering a better practice to consumers and motorist- partners”, said the ride- hailing app company.

Additionally, Grab intends to run an original pilot of ChatGPT Enterprise among” find employees.”

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Citi hires from BNP Paribas for Thailand head of markets role | FinanceAsia

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Citi has appointed Nattaphan Assavavisessivakul as head of industry, Thailand. &nbsp,

Starting in August, Assavavisessivakul will be based in Bangkok, according to a May 29 multimedia news from Citi. &nbsp,

With a proper and international approach, Assavavisessivakul has been given the task of driving business growth and leading the bank’s markets franchise in Thailand. He did report to Sue Lee, Citi’s head of industry, Asia South, and to Fourth Narumon, Citi state official and bank mind, Citi Thailand.

Assavavisessivakul, who has over 20 years of experience in banking and financial solutions, is joining from BNP Paribas, Thailand, where he led and managed the buying sales and government team as head of world markets and ALM Treasury. He reportedly joined the French institution in June 2020, according to his LinkedIn profile.

He also previously served as head of resolved salary, supplies and economies sales at Bank of America, Thailand. Assavavisessivakul began his career at KPMG Thailand, where he concentrated on economic modeling and monitoring.

Thailand is a important market for Citi, according to Narumon in the news, with more international consumer flows into the nation and more local property managers making overseas investments. As the largest cross-border banks in the world, we are specializing in facilitating those travels for our clients.

With Nattaphan’s extensive network and proven track record, Lee continued,” I’m convinced that his command will further strengthen how Citi Markets Thailand fulfills its goal of being the best lender for our customers.”

The interview is subject to normal regulatory approvals.

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India should think long and hard about joining AUKUS – Asia Times

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Compliance with the signed documents and operating rules is the first obstacle to participating in a safety empire. The US is currently playing a major part in a number of security and defense assistance systems in the region and continent, where the US even dominates member international guidelines.

India would probably have to alter its opinion of foreign affairs if it were to participate in AUKUS. With the more frequent occurrence of outside forces, membership may have a significant impact on not only India but also other nations in the region. However, accepting a typical vision and goals with the US would significantly reduce India’s proper freedom.

If a new plane of relationships is built among Washington, London, New Delhi and Canberra, it will always create a network connection affecting each others ‘ security stances. Countries in the network will undoubtedly be involved in a crisis if one website encounters one. That ring does not include AUKUS’s operating system, which does make joint actions statements but is only a multilateral to day.

AUKUS was founded with a primary focus on the Indo-Pacific area, with the intention of incorporating both South Asia and China. As was the situation with the now latent Quad, if India joins AUKUS, it will undoubtedly spawn messages from Pakistan and China, which are both at odds with one another.

In light of the fact that the bilateral agreement aims to encourage users to increase their nuclear arsenals in response to threats from the world. If the US and the UK can provide Australia with radioactive boats, then they might be able to offer them to India. That would also have a significant impact on Pakistan and India’s standard power balance, causing them to reconsider their nuclear doctrines.

Indian Defense Minister Rajnath Singh has previously warned off Pakistan and China to their adversaries that New Delhi might alter its” no second apply” nuclear weapons plan. If and when that actually occurs, New Delhi might start a new nuclear arms race in South Asia, one in which China might offer Pakistan radioactive expertise.

With India’s better military and possible future support from AUKUS, Islamabad would have to bolster its cooperation with China, which is a growing provider of Pakistan’s weapons. China may strike an AUKUS-style cope with Pakistan as a counterbalance for India.

Admiral M Amjad Khan Niazi, commander of the Pakistan Navy, has noted his country’s enhanced marine relations with China in recent years. Not least of all, China is assisting Pakistan with the exchange of cutting-edge systems battleships.

AUKUS and India de facto did de facto promote upcoming military issues and significant power problems in the Indian Ocean. The risk of nuclear submarines entering Southeast Asia, including the fiercely disputed South China Sea, to stop China is now taking hold in the Pacific, thanks to US and UK support for Australia.

Now, Australia has the readiest approach to Southeast Asia among the AUKUS people. But, Southeast Asia would have a wider sphere of influence if India were to join the relationship. India has expanded its appearance in Southeast Asia in recent years, providing China’s South Asian foes with important weapons, including Brahmos missiles.

If the India-ASEAN bridge is constructed properly, creating a vast trade region connecting the two oceans, it will help New Delhi accomplish many of its economic and political objectives as it asserts itself more assertively on the world stage.

On the other hand, India is being pushed harder by China’s Belt and Road Initiative to compete more effectively in emerging industry. In response to China’s growing anger in the South China Sea, some of the Southeast Asian nations are eager to hedge their security ties with US.

In addition, if there are widespread misconceptions that India’s participation is causing the introduction of more nuclear weapons and the potential for a weakening conflict in the region’s now hotly churning waters, it could just as easily backfire in Southeast Asia.

ASEAN’s people view AUKUS separately. Ali Sabri Yaakob, the former prime minister of Malaysia, warned that AUKUS might start a nuclear arms race and raise regional conflicts. On the other hand, the Philippines is thinking about forming what some have called a “new Rear” or” Squad” with the US, Japan, and Australia to thwart China.

India’s desire to join AUKUS as its third part is undoubtedly a done deal, as China, Pakistan, and ASEAN weigh the possible repercussions and options. However, a U.S. plus India would have profound effects on Asia’s protection and a universe that is rapidly dividing into competing corporate blocs.

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China’s yuan seeks to challenge the US dollar but traders don’t want to use it

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The dollar’s internationalisation catalog, as measured by China’s northern bank, has greatly improved since 2009, but it still lags far behind the dollar and the euro in terms of business arrangement, global payments, international trading and central bank forex reserves. The new study discovered that additional obstacles included obstacles toContinue Reading

Deals ramp up in Asia’s healthcare space with cancer focus | FinanceAsia

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Over the past few weeks, there have been numerous new offers and advances in Asia’s tumor treatment.

This includes a $1.5 billion investment from UK-Swedish pharmaceutical giant AstraZeneca in Singapore, a listing on the Hong Kong Stock Exchange (HKEX) by a Chinese biopharmaceutical firm and an acquisition in Hong Kong by the New Frontier Group of the Hong Kong Integrated Oncology Center, a leading comprehensive private oncology medical platform. 

AstraZeneca‘s investment was made in partnership with the Economic Development Board of Singapore, which is a department of trade and industry official, demonstrating that other institutions are discovering the potential for investment in this area.

Sunho Biologics ( China ), which is focused on the development and commercialization of biologics for the treatment of cancer and autoimmune diseases, was listed on the HKEX on May 24. The company’s shares, which had a last offer price of HK$ 13.5, increased 10 % on the day of the list, which is also a part of a wider pattern of more businesses looking to raise money via an IPO on the HKSE as the city’s market recovers from some very tough times.

The Nanjing City- based company, founded in 2018, offered 34.1518 million securities worldwide, with the Hong Kong government offering budgeting for 10 %, it was 10 times overstretched. CICC was the only sponsor, only general goordinator, only international coordinator, combined bookrunner and joint lead manager on the deal. The partnership between lovers Ke Geng and Ke Zhu was led by international laws company O’Melveny. It was O’Melveny’s sixteenth Hong Kong Investor completed for Chapter 18A biotechnology companies. &nbsp,

The offering size was approximately HK$ 460 million ( approximately$ 60 million ).

Garri Zmudze, public companion at venture capital firm LongeVC, told FinanceAsia:” Asia is a growing opportunity for life research businesses and investors equally, because the place presents a unique set of circumstances for development”.

Zmudze added:” The region’s potential is reflected in a&nbsp, flurry of deals in the cancer space in recent weeks”.

Next- generation cancer treatment

In recent years, cancer drugs have been quickly developing.

SunHo Biologics makes use of its understanding of immunology to create immunotherapies, including immunocytokines, to treat cancers and autoimmune diseases. It is in the middle of several trials, including Phase II of clinical trials for biliary tract carcinoma &nbsp, and colorectal cancer, and has three products it has developed in-house.

In order to increase the global supply of its ADC portfolio, AstraZeneca is building a manufacturing facility in Singapore for antibody drug conjugates ( ADCs ). In 2029, the manufacturing facility is expected to be operational.

ADCs&nbsp are the newest treatments that use targeted antibodies to deliver cancer-killing agents directly to cancer cells. The manufacturing of ADCs includes: antibody production, the synthesis of chemotherapy drug and linker, the conjugation of drug- linker to the antibody, and the filling of the completed ADC substance. &nbsp,

Unfortunately, one of the factors influencing the investment in Asia Pacific is that there has been a significant rise in cancer incidences overall.

Over 35 million new cancer cases are expected to occur in 2050, an increase from the 20 million expected in 2022, according to the World Health Organization. With 2.5 million new cases accounted for 12.4 % of the total new cases, lung cancer was the most prevalent cancer worldwide.

The most prevalent cancer in Asia is likely to be caused by persistent tobacco use, which is now known as lung cancer.

GBA

Greater Bay Area ( GBA ) is one of the areas where cancer investments are projected to increase.

The Hong Kong Integrated Oncology Center ( HKIOC ) was recently purchased by the healthcare company New Frontier Group. The HKIOC provies cancer treatment services, early diagnosis, radiotherapy, systemic treatments, mental health and other rehabilitation services.

The company New Frontier owns the HEAL Medical Group, the Guangzhou United Familty Hospital, and the New Frontier Shenzhen United Family Hospital, and it also sees a” sizeable and growing patient population in the Greater Bay Area.” Collectively, they are referred to as the New Frontier Greater Bay Area Healthcare.

Life and health technology will be a part of the Shenzhenh- Hong Kong Science and Technology Innovation Co-operation Zone, according to Hong Kong CEO John Lee at the Asia Summit on Global Health held in Hong Kong in May.

Lee stated that the government of Hong Kong SAR is also strengthening I&T support in the upstream, midstream, and downstream sectors to spur the development of life and health science. The 16 life and health- related R&amp, D ( research and development ) centres established in our InnoHK research clusters are yielding impressive research outcomes”.

He added that Hong Kong’s government has committed to investing an additional$ 1.3 billion to further advance life and health technology and welcomed international talent to the country to work in the field. &nbsp, &nbsp,

Other investors&nbsp, on the hunt

Private equity firms Carlyle and EQT recently closed large funds in Asia, which are, among other things, targeting Asian healthcare companies. Carlyle specifically targets Japanese companies after closing its most recent record buyout fund in the country.

In addition to Pureos BioVentures, there are a number of specialist, smaller investors in the industry who are looking to enter the market. LongeVC also looks at the wider “longevity” market and is backing “visionary biotech” in the US and markets like Japan. &nbsp,

Expect more money to be made in this area, which will hopefully result in many lives being saved. &nbsp,

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EQT beats Asia mid-market growth fund target | FinanceAsia

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The total fund commitments for private equity firm EQT’s BPEA EQT Mid-Market Growth Partnership fund totaled$ 1.6 billion, more than twice the fund’s original target of$ 750 million.

The Asia- focused middle- business buyout fund, which had an original goal size of$ 750 million, closes with$ 1.6 billion in full fund commitments, of which$ 1.4 billion is fee- generating, according to a company statement.

The&nbsp, may focus on the technologfundy, services, and medical businesses across Asia, prioritising India, Southeast Asia, Japan and Australia. To date, it has invested in four things. &nbsp,

In 2024, practically$ 29 billion in total commitments have been raised by EQT’s personal capital strategies around the world.

The bank has a “diverse selection” of international investors, while existing investors in the lineup Asian huge- cover buyout funds made up over 80 % of the entire commitments, according to the statement. A” significant” unknown part of the agreements also came from EQT people, while the majority of the remaining agreements came from owners in other EQT cash, which were allocating to the Eastern system for the first time.

Following the$ 24 billion closing of EQT X in February and the$ 3 billion closing of EQT Future in March, the fund’s total commitments increased to nearly$ 29 billion in total after the fund closed.

” We have invested in Asia for the past three decades, and our large-cap platform is now fully developed and established.” We no longer had a dedicated pool of capital to invest in compelling mid-market companies, according to Jean Salata, chairman of EQT Asia and head of the EQT Private Capital Asia advisory team. &nbsp,

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

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

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

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

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

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

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

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

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

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

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

]RM1 = US$ 0.212]

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

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

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

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

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

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

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

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

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

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

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

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

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

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