Innovation & Technology Outputs

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Sunway iLabs names top five startups for Super Accelerator programme
By NST Business - August 16, 2021 @ 5:29pm



Sunway Group chief innovation officer and Sunway iLabs director Matt Van Leeuwen looks forward to working closely with the selected top five startups, which shows great growth potential and alignment with Sunway business divisions.

KUALA LUMPUR: SunwayBhd 's innovation arm, Sunway Innovation Labs (Sunway iLabs), has announced the top five startups from its one-month pre-accelerator phase of the 2021 Sunway iLabs Super Accelerator programme.

The accelerator programme, kicked off together with Pan-Asian venture capital firm Gobi Partners last month, was completed with 23 startups in a pitch competition to a panel of judges.

The top five startups of this third cohort come from various industries, specifically agrifood technology, fintech, property technology (proptech), and travel and hospitality technology.

The top five startups are Loop Foods, Rent Guard, Singular, Trabble and Wise Crafters.

Sunway Group chief innovation officer and Sunway iLabs director Matt Van Leeuwen is excited to work closely with the selected top five startups, which show great growth potential as well as alignment with Sunway business divisions and environmental, social and corporate governance (ESG) goals.

"One of the key criteria we adopted in selecting the top startups included social impact and sustainability, which we continue to measure as a metric of success.

https://www.nst.com.my/business/2021...ator-programme

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MEASAT Global confirms Airbus building RM1.2b satellite; launch date finalised for early 2022
Tan Siew Mung August 18, 2021 12:23 pm +08


http://www.gdparchitects.com/measat-...adcast-centre/

KUALA LUMPUR (Aug 18): MEASAT Global Bhd confirmed that aircraft manufacturer Airbus S.A.S. is building the MEASAT-3d satellite for MEASAT Global for about RM1.2 billion to replace the existing MEASAT-3 satellite, which will be retired after an anomaly on June 21, 2021.

"MEASAT-3d (will be) built by Airbus for RM1.2 billion," MEASAT Global corporate communications manager Shawna Felicia said in an emailed statement to theedgemarkets.com today.

Shawna's statement today followed MEASAT Global's Aug 6, 2021 statement that the company would retire its MEASAT-3 satellite after the June 21, 2021 anomaly, resulting in a complete outage of service and that the matter was still under investigation in partnership with MEASAT Global's MEASAT-3 satellite provider Boeing Satellite Systems (BSS).

Despite maintaining continuous telemetry and command control of MEASAT-3, further testing and recovery efforts found that the satellite could not re-enter service, according to MEASAT Global.

"The satellite will be de-orbited in the following weeks. MEASAT-3, a Boeing 601 satellite, had provided satellite communication services for almost 15 years since its launch in December 2006. The spacecraft, manufactured by BSS, was equipped with C-band and Ku-band transponders that cover over 100 countries across Asia, Eastern Europe, the Middle East and Africa.

"MEASAT (Global) is currently finalising the launch date of MEASAT-3d for early 2022, which is expected to restore its unrivalled in-orbit satellite redundancy at the company's key orbital hotslot 91.5°E, providing direct-to-home (DTH), broadcasting and telecommunications services for the region, besides significantly enhancing broadband speed of up to 100 Mbps in areas with limited or without any terrestrial connectivity throughout Malaysia.

"Announcements on the MEASAT-3d launch will be released in due course," MEASAT Global said.

https://www.theedgemarkets.com/artic...sed-early-2022

https://www.thestar.com.my/news/nati...r-with-measat3

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SNS Network empowers educators with virtual learning tool through JOI Smart Classroom
The Edge Malaysia August 17, 2021 17:30 pm +08

The integration of technology into education has become the new normal in learning and teaching. While the Covid-19 pandemic has played a part in accelerating this transition, technological innovation was already disrupting the way students learnt in and out of the classroom.

“Technology adoption has created a robust environment for hybrid learning, whether at home, in a classroom or anywhere,” says Ko Yun Hung, managing director of SNS Network (M) Sdn Bhd, which provides a flexible digital learning solution called JOI Smart Classroom.

“With the implementation of e-learning, the role of educators will be transformed and instead of the traditional teacher-centric model, it will be a student-centric model.”

JOI Smart Classroom, which was launched in 2016, has seen this evolution in classrooms over the years. By evaluating the challenges that teachers face in e-learning and assessing their experiences, the product has been continually improved to meet the needs of educational institutions.

JOI Smart Classroom was developed in collaboration with Intel and Microsoft. It uses a classroom management software that enables interactive teaching and learning, and carries out data analytics on student performance, among other things.

These solutions have been built on top of the industry-leading operating system, Windows 10 Pro, together with Intel’s leading platforms, delivering the most secureenvironment in which students are protected from external threats. Additionally, these solutions expand into device cloud capabilities, manageability and security to ensure devices stay secure and deliver on the promise of a connected classroom.

“Technology adoption has created a robust environment for hybrid learning whether at home, in a classroom or anywhere,” says Ko Yun Hung, managing director of SNS Network (M) Sdn Bhd

There is a misconception that virtual learning does not promote interaction between students, according to Ko. He explains that peer-to-peer learning is actually central to online learning. Students are able to interact with each other through group projects and discussion forums, as well as present group projects through web conferencing tools like Microsoft Teams and Google Classroom.

It is also not true that one has to be tech-savvy to master virtual learning. Basic technology skills such as connecting to the internet and navigating a browser are more than enough for virtual learning. JOI Smart Classroom offers various tutorials and links to facilitate virtual learning.

“Some educators and teachers may think that virtual learning solutions are expensive. However, we are able to cater to their needs based on their budget. Our solution is very flexible. Consumers can start with one device and gradually add more options. We even offer a financing solution called SNS One Plan, where they can choose subscription services of up to 36 months,” says Ko. Educational institutions can also acquire the required devices as a service by paying monthly fees.

Educators can no longer ignore the use of technology in classrooms. Online education will eventually become an integral component of school education,

“It enables educators to reach out to their students more efficiently and effectively through chat groups, video meetings, voting and also document sharing, especially during this pandemic. Students also find it easier to communicate online. We believe traditional offline learning and e-learning can go hand in hand,” says Ko.

To provide a comprehensive solution for the education ecosystem and ensure that students have access to good-quality devices, SNS Network is offering the JOI Classmate 10 and 30 at prices starting from RM1,299.

JOI is a house brand launched by the company in 2014 with the aim of offering accessible and quality devices to consumers, comprising corporates and institutions.

SNS Network won the Top IOT Market Ready Solutions Partner Award and Top Contributor in Partner of the Year 2020 Award, given by Intel this year in recognition of the company’s successfuldeployment of the JOI Smart Classroom solution.

“We’ve had a partner relationship with Intel since 1999 and we are currently its Titanium partner. Intel gives us exclusive business-building opportunities, such as entry into the global marketplace, advanced training and promotional support,” says Ko.

UTHM is the first public university to upgrade its academic facilities, and turn them into digital hybrid classrooms as part of its 21st century TVET Learning Transformation




https://www.theedgemarkets.com/conte...mart-classroom

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AirAsia launches AirAsia Ride e-hailing service under its super app
Ahmad Naqib Idris August 24, 2021 14:28 pm +08

KUALA LUMPUR (Aug 24): AirAsia Group Bhd has finally launched AirAsia Ride, the latest offering under the group’s super app, an e-hailing service that will be rolled out in other states by the end of the year.

AirAsia Group CEO Tan Sri Tony Fernandes had told The Edge in March that the group was planning to enter the ride-hailing business.

AirAsia Ride is launched in Kuala Lumpur today, according to AirAsia Ride CEO Lim Chiew Shan, with the service to be expanded to other states such as Selangor, Penang, Johor, Kelantan, Sabah, Sarawak by end-2021.

“What sets AirAsia Ride apart from others in the market would be the unique insights and data we have due to our position as a super app that owns an airline, and have strong vertical products on e-commerce, fintech, logistics and now e-hailing,” said Lim during a briefing with the media.

He added that this would enable the group to leverage its data and algorithm to provide a seamless journey from booking flights to pre-booking their rides to the airport, as well as for their return journey all within the super app.

Passengers will have the option to pick their preferred vehicle types and drivers, said Lim, with the service undertaking a “driver-forward” concept which will enable its drivers to improve their overall income.

AirAsia Ride has about 1,500 registered drivers currently, with 5,000 more to come on board in the next six months.

“We will continue to recruit drivers. We are aiming to have at least 30,000 drivers going forward, in order to meet the demand that we are expecting to generate,” said Lim.

AirAsia Ride’s fleet of drivers are 100% vaccinated, according to AirAsia Group chief safety officer Captain Ling Liong Tien, with the drivers to be regularly tested.

The group is also aiming to offer the service in other countries in the region, according to AirAsia's Fernandes.

“Malaysia is step one. Thailand will be next, and then into Indonesia, the Philippines, Singapore, etcetera. So there will be two rollouts, one in Malaysia, and there will be an Asean rollout as well which will be as aggressive going forward,” he said.

Meanwhile, Fernandes said the group’s digital plans are ongoing, covering segments such as travel, delivery and finance, which he said will see BIG Wealth facilitating the acquiring of loans by individuals and small and medium enterprises (SMEs) via its platform, as well as allowing people to invest in Bitcoin, unit trusts, and equities.

He added that the group is eyeing four or five more acquisitions on the horizon, although he did not elaborate on the M&A plans.

Asked if the group is looking into eventually spinning off the digital portion of its business, he said there will be a “split” at some point, noting that the stock market has not considered the value of its digital products.

However, he said that will be up to the board to decide.

At noon market break, AirAsia was up 0.5 sen or 0.6% at 87 sen, giving a market capitalisation of RM3.39 billion.

https://www.theedgemarkets.com/artic...-its-super-app

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Govt launches National 4IR Policy
By Nor Ain Mohamed Radhi - July 1, 2021 @ 11:23am



The government has launched the national policy on the Fourth Industrial Revolution (National 4IR Policy), aimed at increasing the country’s readiness in harnessing the potential of 4IR. - Pic credit Facebook @EPUMalaysia

KUALA LUMPUR: The government has launched the national policy on the Fourth Industrial Revolution (National 4IR Policy), aimed at increasing the country's readiness in harnessing the potential of 4IR.

The policy is set to transform Malaysia into a high-income nation driven by technology and digitalisation.

Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed said technology played an important role in improving the quality of life and economic growth.

"The unprecedented Covid-19 pandemic has also changed the way we live, where it requires the government, the people, and businesses to adapt to the technology and digitalisation, to facilitate the new norms.

"The need to be a technological nation has prompted the government to draft the National 4IR Policy," he said during the virtual launch of the policy today.

Mustapa said the policy had gone through an extensive process of engagement to gather feedback from relevant stakeholders, to ensure fast implementation.


The National 4IR Policy, he said, has four thrusts for society, business, and the government.

"First, to equip the people with 4IR related knowledge and skillsets.

"Second, to form a nation with connectivity through the development of digital infrastructure.

"Third, to provide appropriate rules for future needs, so that they are flexible according to technological changes.

"Four, to accelerate innovation and adoption of 4IR technology."

He said the four thrusts would guide the relevant ministries and agencies in formulating 4IR-related programs.

Mustapa added that the thrusts would be implemented based on 16 strategies, 32 national initiatives, and 60 sectoral initiatives that had been identified by the government.

"(And) to reduce the potential social-related risks that could be derived from 4IR, elements of trust, inclusivity, cybersecurity, ethics, and values will be inculcated in all initiatives."

He said the policy did not only involve improvements to existing initiatives but also several new ones covering four focus areas of human capital, infrastructure, regulation, and innovation.

"Whilst 4IR might be seen as challenging the workforce due to automation, the use of robots and artificial intelligence; new job opportunities will be created to increase income and quality of life."

Meanwhile, Science, Technology, and Innovation Minister Khairy Jamaluddin said the government had identified five core technologies to build local capabilities.

"The five core technologies are Artificial Intelligence (AI), Internet of Things (IoT), blockchain and distributed ledger technology (DLT), advanced materials supported by cloud computing and big data analytics (BDA)."

He said all these five core technologies have impacted daily lives and the way people do things.

"Whether through BDA, AI, cloud computing, blockchain or IoT, all of them have helped people in terms of planning, implementation, and results."

Khairy said his ministry was working on several technology-related policies and roadmaps.

"These include policies and roadmaps on electrical and electronics technology development, vaccines, blockchain, economy, hydrogen, nanotechnology, AI, robotics, advanced materials and research and development, commercialisation, innovation, and economy."

He said the policies and roadmaps would be designed to involve all stakeholders in facing future challenges, in line with the 4IR core which transcends the digital, physical, and biological domains towards achieving a high-tech nation.

https://www.google.com/url?sa=t&rct=...Z-CT6GxodlBgmy

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Growing Demand for Digital Banking Solutions in The New Normal
August 30, 2021 07:00 am +08

When the COVID-19 pandemic struck, digitalisation became imperative in all aspects. As businesses speed up the adoption of digital technologies, customer experiences are being constantly redefined.

More than 75% of businesses in Malaysia are already using at least one financial technology (fintech) related product or service since 2020, found CPA Australia, a professional accounting body.

Mobile payments and digital or online wallets are the most widely used fintech products, used by 60% of Malaysian companies surveyed by CPA. Thus it is crucial for banks to rethink how customers are conducting their banking activities especially when face-to-face interactions are minimised, with a greater need for contactless transactions.

Understanding this shift in consumer behaviour, AmBank consistently enhances its digital capabilities, provides 24/7 access to its wide range of products and services via AmOnline, including opening new accounts digitally for individuals, investing, applying for financing, consolidating debt, applying a credit card or purchasing insurance.

https://www.theedgemarkets.com/conte...the-new-normal

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SIRIM to Drive Adoption of Frontier Technology
August 24, 2021 16:25 pm +08

SIRIM Berhad's newly appointed President and Group Chief Executive, Dato Dr. Ahmad Sabirin Arshad plans to transform the organisation into a champion of frontier technology and a RM1 billion company by 2027.

His illustrious career path certainly proves he is the right person to make this transformation a reality.

From Sea to Space
The former CEO of Aerospace Ventures, a subsidiary of oil and gas company Uzma Berhad, started his career as a marine engineer with plans to join the Malaysian Navy. He made the transition from sea to space when he became part of the pioneering group of engineers involved in the development of MEASAT-1 satellite at the Hughes Aircraft Company, now known as Boeing. He was involved in the development of Malaysia's first microsatellite TiungSAT-1 and the deployment of the first National Tsunami Early Warning System back in 2004. He was also the former CEO of Astronautic Technology (M) Sdn Bhd, a space and satellite technology company owned by Minister of Finance Inc.

It was his role in the design, development and launch of the country's second satellite RazakSAT, the first in the world to be placed in the near-equatorial orbit, where the story gets astronomically interesting.

RazakSAT was launched on SpaceX's Falcon 1 launch vehicle in July 2009 by none other than Elon Musk himself.

"I knew Elon Musk when he was just operating from a shack. We spoke many times, and he even invited us to take shares in his company."

When asked if he would invite Elon Musk to collaborate with SIRIM for Malaysia in the future, Ahmad Sabirin said "Why not? We will find a way for this in our new blueprint to be the champions of frontier technology."

The Game Plan
"SIRIM must become the technology hub of the country, where innovations in robotics, Artificial Intelligence (AI), Industrial Internet of Things (IIoT), nanotechnology, quantum computing and biotechnology take place. Imagine the Silicon Valley in the States, Tsukuba in Japan and Daejeon in South Korea - then imagine us recreating that kind of creative energy, here in Malaysia."

"To become a champion of frontier technology, SIRIM will shift its focus from infrastructure as a service, to software as a service. This means moving away from traditional brick and mortar projects," he explains.

SIRIM's projects will be streamlined into the Digital Factory - a model through which SIRIM will rapidly develop products and solutions tailored to customer needs in line with shifting demands and trends.

"Firstly, we will emphasise on technologies that can benefit the rakyat directly. Secondly, we will provide solutions and technology upgrades to SMEs to increase their manufacturing productivity and enhance quality. Thirdly, we will lead in industrial technology and cutting-edge innovation."

"It is vital for SIRIM to remain relevant in the digital era. Industries are moving forward, and it is imperative for us to be a disruptive force at the frontline of all innovation, while always feeling the pulse of the country's technological needs. SIRIM as the champion of frontier technology will become the driving force of knowledge economy in the country," adds Ahmad Sabirin.

The company will capitalise on its years of expertise in research and development (R&D). These research outputs will be commercialised into products and services that can be sold to the market. Therefore, research as a business segment is expected to grow as one of the main sources of revenue for SIRIM moving forward.

https://www.theedgemarkets.com/conte...ier-technology

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Carsome raises US$170 million to reach US$1.3 billion valuation
Anshuman Daga Reuters September 01, 2021 07:46 am +08

SINGAPORE (Sept 1): Southeast Asian used-car marketplace Carsome Group said it has raised $170 million in a funding round from investors including Taiwanese chipmaker MediaTek, cementing its position as Malaysia's largest tech unicorn, valued at $1.3 billion.

The valuation comes as Southeast Asian startups are attracting strong interest from regional and global funds, driven by robust growth rates, as investors take bets on post-pandemic plays.

"The most important thing we are trying to tackle is the distrust that's associated with the used-car industry," said Carsome's co-founder and chief executive, Eric Cheng, adding that consumers were becoming more open to buying cars online during lockdowns imposed in countries over the past year.

Six-year-old Carsome's competitors include SoftBank Vision Fund 2-backed Carro and OLX Auto in Indonesia, part of OLX Group, which runs global trading platforms.

Cheng said Carsome, which also operates in Indonesia, Thailand and Singapore, has been ramping up its retail centres and expanding its offerings, which include a five-day refund policy and a one-year warranty.

Carsome is looking to almost treble its revenue to nearly $1 billion this year from last year and expects to turn profitable on an operating level in 2022, its chief financial officer, Juliet Zhu, told Reuters.

It had raised a total of more than $100 million in its previous funding rounds.

Zhu said Carsome is considering listing in the United States within the next 12 months and is in talks with sponsors of blank check companies.

"We have always been envisaging ourselves to be listing on U.S. exchanges," Cheng said, citing comparable valuations with U.S.-listed car marketplaces available for investors.

Backed by the likes of Asian venture capital firm Gobi Partners and an arm of Mitsubishi UFG Financial Group, Carsome will use the funds to extend its spate of acquisitions.

This year, it acquired a stake in a Jakarta-based car and motorcycle auction service and agreed a deal with Australia-listed iCar Asia, which offers listing sites in Southeast Asia.

Carsome said one of the largest sovereign wealth funds from the region joined the latest funding, but it declined to identify the fund. Carsome also secured new credit facilities of $30 million.

Rothschild & Co is the financial adviser on the fund raising.

https://www.theedgemarkets.com/artic...lion-valuation

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Bank Negara joins central banks of Australia, South Africa & Singapore in digital currencies trial
By Azanis Shahila Aman - September 2, 2021 @ 1:24pm

KUALA LUMPUR: Bank Negara Malaysia has joined the central banks in Australia, Singapore and South Africa to test the use of central bank digital currencies (CBDCs) for international settlements.

The central banks are the Reserve Bank of Australia, Monetary Authority of Singapore and South African Reserve Bank.

Known as Project Dunbar, it will be led by the Bank for International Settlements (BIS) Innovation Hub's centre in Singapore.

Project Dunbar aims to develop prototype shared platforms for cross-border transactions using multiple CBDCs.

Bank Negara said these multi-CBDC platforms would allow financial institutions to transact directly with each other in the digital currencies issued by participating central banks, eliminating the need for intermediaries and cutting the time and cost of transactions.

"The project will work with multiple partners to develop technical prototypes on different distributed ledger technology platforms.

""It will also explore different governance and operating designs that would enable central banks to share CBDC infrastructures, benefitting from the collaboration between public and private sector experts in different jurisdictions and areas of operation," it said in a statement.

BIS Innovation Hub Singapore centre's Andrew McCormack said Project Dunbar brought together central banks with years of experience and unique perspectives in CBDC projects and ecosystem partners at advanced stages of technical development on digital currencies.

"With this group of capable and passionate partners, we are confident that our work on multi-CBDCs for international settlements will break new ground in this next stage of CBDC experimentation and lay the foundation for global payments connectivity," said McCormack.

Bank Negara assistant governor Fraziali Ismail said the multi-CBDC shared platform explored under Project Dunbar has the potential to leapfrog the legacy payment arrangements.

Fraziali said the platform would also serve as a foundation for a more efficient international settlement platform.

"We hope the project will spur greater public-private collaboration to enable fast and frictionless cross-border payments, combining both the benefits of distributed ledger technology and the efficiency of a common platform," he added.

Project Dunbar's work will explore the international dimension of CBDC design and support the efforts of the G20 roadmap for enhancing cross-border payments.

Its results, expected to be published in early 2022, will inform the development of future platforms for global and regional settlements.

Technical prototypes of the shared platforms, developed in collaboration with different technology partners, will be demonstrated at the Singapore FinTech Festival in November 2021.

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Gov’t to announce investments similar to Microsoft’s US$1 bln data centres investment soon – Tengku Zafrul
POSTED ON SEPTEMBER 2, 2021, THURSDAY AT 11:48 PM

KUALA LUMPUR (Sept 2): The government is expected to announce investments similar to Microsoft Corporation’s US$1 billion data centres investment in the near future, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Microsoft has in April this year announced that it will invest US$1 billion in the country over the next five years as part of a new partnership with the government agencies and local companies.

“We believe, and I know for a fact that, more global players are finalising similar investments in Malaysia, which we will announce soon under the MyDIGITAL initiative,” he said.

Tengku Zafrul said this in a virtual interview with Singapore’s The Straits Times titled “Beyond the Pandemic: Malaysia’s Way Forward” today.

According to the Finance Minister, Malaysia is confident of attracting more global players in building data centres in the country moving forward.

On the cabotage issue of which Facebook and Google had reportedly announced that their new subsea cable would bypass Malaysia entirely, Tengku Zafrul said Malaysia’s current cabotage policy is sufficient in ensuring its sovereignty.

“I believe there are geopolitical considerations… when it comes to undersea cable connectivity, I cannot comment as much, but Malaysia’s current cabotage policy is sufficient in ensuring our sovereignty,” he said. – Bernama

https://www.theborneopost.com/2021/0...tengku-zafrul/

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IHH extends digital healthcare ecosystem via Doctor Anywhere platform
By Ayisy Yusof - September 2, 2021 @ 3:07pm

KUALA LUMPUR: IHH Healthcare Bhd is partnering with regional digital healthcare platform Doctor Anywhere (DA) to offer teleconsultations to deliver healthcare beyond its hospital walls.

The teleconsultations will be offered by specialists from IHH's four hospitals in Singapore namely Gleneagles, Mount Elizabeth, Mount Elizabeth Novena, and Parkway East.

IHH managing director and chief executive officer Dr Kelvin Loh said it would need to complement and integrate its brick and-mortar operations with digital services to make healthcare truly patient-centric.

"Thus, patients can enjoy seamless and cost-effective care wherever they are. As Covid-19 accelerates the pace of healthcare digitalisation, we are staying ahead by deepening our in-house capabilities and deploying cutting-edge healthcare technology through partnerships with innovative companies such as DA," he said in a statement today.

https://www.nst.com.my/business/2021...where-platform

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MOSTI to improve digital infrastructure, disruptive technologies, says Adham
Bernama September 04, 2021 18:08 pm +08

PUTRAJAYA (Sept 4): The Ministry of Science, Technology and Innovation (MOSTI) will focus on improving digital infrastructure and disruptive technologies, which are the mainstay of the sustainability of the country’s start-up economy, the financial sector as well as talent development.

Minister of Science, Technology and Innovation Datuk Seri Dr Adham Baba said in a statement today, the effort would also drive the country's sustainability agenda in line with the Sustainable Development Goals (SDGs).

He said MOSTI is working to develop the COVID-19 vaccine and other vaccines related to tropical diseases, adding that this effort will produce more experts in vaccine development and scientists in research.

"Besides that, emphasis will also be given to the development of innopreneurs, innovation-based entrepreneurs, among the B40 and M40 groups involved in making innovative products for the digital economy," he said.

This would help them to generate income to improve their quality of life in the face of the COVID-19 pandemic, he added.

Dr Adham said the emphasis is on Industrial Revolution 4.0 (IR 4.0) technologies and digital transformation based on high-tech local development and low-touch economy, especially in the face of the current challenging pandemic situation.

He said apart from that, MOSTI would continue to lead the field of emerging technologies such as drones, electrical and electronics, Internet of Things (IoT), artificial intelligence (AI), blockchain, cloud storage, robotics as well as innovations with human-centric approaches.

He said the ministry will ensure all its employees and those working with the agencies under MOSTI are always proactive and fast in producing high-performance impacts as well as in mainstreaming science, technology and innovation.

Dr Adham said this excellent work culture would intensify the quality of delivery of services to the community and further increase productivity in driving IR 4.0 towards Society 5.0.

https://www.theedgemarkets.com/artic...ies-says-adham

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K-One Technology to develop, manufacture NASA-approved ventilators
By NST Business - September 8, 2021 @ 1:33pm

KUALA LUMPUR: K-One Technology Bhd's (KTB) wholly-owned subsidiary K-One MediTech Sdn Bhd (KOM) will develop and manufacture ventilators in Malaysia to meet increasing demands and the changing global landscape of the medical devices industry.

The ventilators are licensed by the US-based National Aeronautics and Space Administration's (NASA) Jet Propulsion Laboratory (NASA-JPL).

KTB's research and development of enhanced ventilator models will enable a broader range of applications for acute respiratory diseases by incorporating smart features such as the Internet of Things (IoT), which are attributes of the medical device industry's technological advancements.

Having secured the license to manufacture ventilators developed by NASA-JPL, KOM has also been awarded a matching grant by the Malaysian Investment Development Authority (MIDA).

With MIDA's facilitation, KTB plans for future development and manufacture of ventilators, perhaps under its own brand.

Additionally, the grant will assist in obtaining international certifications, such as Food and Drug Administration (FDA) and European CE approvals, in demonstrating compliance with American and European standards, which serve as the gold standard certifications.

MIDA chief executive officer Arham Abdul Rahman said KTB's achievement in being the only Malaysian company licensed to produce NASA-JPL's ventilators represents a huge leap of the local technological capability towards the production of more complex and high technology medical devices to meet the global demands.

"Given the escalating demands for ventilators worldwide in managing the Covid-19 pandemic, it is certainly an admirable feat for the company to commit and produce affordable ventilators, making them more accessible, in the fight against Covid-19.

"With the growing presence of multinational companies (MNC) in Malaysia, domestic manufacturers in the medical device supply chain are also being recognised globally," he said in a statement today.

KOM expects to benefit commercially from the enhanced ventilators production while contributing to the domestic and global supply chains.

The development and manufacturing processes may also nurture specialised local technical expertise through collaborations with local universities and university hospitals, including training on specific medical protocols by medical device specialists.

KTB chief executive officer Datuk Martin Lim Soon Seng believe the demand for ventilators is always there, even though the Covid-19 pandemic has boosted its requirements.

He said the government support would catalyse and accelerate the company's efforts in achieving its aspirations to produce a novel 'Made in Malaysia' ventilator of international standards.

The government's strong backing will nurture the local companies to develop indigenous technology and facilitate uplifting local talents, enhancing supply chain competencies and foreign exchange earnings via export growth.

The government's continuous commitment to attract high technology investment is reflected through significant growth of Malaysia's medical devices industry over the last few years.

In 2020, the industry contributed RM6.1 billion worth of investments through 51 projects approved by MIDA.

Today, Malaysia comprises over 200 manufacturers producing a broad range of products and equipment for medical, surgical, dental, optical and general health purposes.

This has certainly made Malaysia an ideal investment destination, particularly an outsourcing destination and a medical device manufacturing hub in ASEAN.

https://www.nst.com.my/business/2021...ed-ventilators

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https://www.nst.com.my/business/2020...stribute-vital

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MaGIC collaborates with Penjana Kapital to fund start-ups
By NST Business - September 13, 2021 @ 6:02pm



Penjana Kapital Sdn Bhd chief investment officer Taufiq Iskandar says the collaboration with MaGIC will boost DPN’s objectives to overcome the innovation funding gap and accelerate Malaysia’s economic recovery whose momentum has been derailed by a more persistent Covid-19 pandemic.

KUALA LUMPUR: The Malaysian Global Innovation & Creativity Centre (MaGIC) and Penjana Kapital Sdn Bhd (PKSB) are collaborating to unlock potential investment opportunities for innovative start-ups to position them to scale and grow regionally and beyond.

In bridging the funding gap faced by start-ups, MaGIC will funnel its alumni, particularly the seed stage start-ups, to venture capitals (VC) under the Dana Penjana Nasional (DPN) programme.

The VCs include Tenggara Capital Partners, IMO Ventures, and The Hive SouthEast Asia, Tuas Capital Partners for the seed stage.

The DPN, which is a matching fund-of-funds programme, is administered by PKSB.

This programme, which is part of the Short-Term Economic Recovery Plan (PENJANA), is aimed at bridging the funding gap in the country by incentivising private capital to facilitate the growth of start-ups and create an enabling environment for these start-ups to scale and expand their reach internationally.

The government will match RM600 million, on a 1:1 basis, of the funds raised by the VC fund managers from foreign and private domestic investors, with a target allocation of RM1.2 billion.

At its first close at the end-May 2021, PKSB raised RM850 million, with more than half from foreign investors in Hong Kong, South Korea and Singapore.

https://www.nst.com.my/business/2021...fund-start-ups

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Techna-X bags RM50.8mil tech support contract
By NST Business - September 14, 2021 @ 5:49pm

KUALA LUMPUR: Techna-X Bhd's subsidiary, TouchPoint International Sdn Bhd and a technology solutions company have bagged a two-year technology development and support contract for RM50.8 million from SHT Engineering Sdn Bhd (SHT).

In a statement today, the company said the contract is to design and deliver an analytics-enabled public safety and security command system.

Under the terms of the engagement, TouchPoint will develop, implement and support an analytics-enabled public safety and security system, incorporating the latest on the Internet of Things (IoT)-powered computing mobile devices, GIS software components, and professional engineering services.

Techna-X executive chairman Tunku Naquiyuddin Tuanku Ja'afar said the contract from SHT is a significant win for Touchpoint and the group.

https://www.nst.com.my/business/2021...pport-contract

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Malaysia Debt Ventures invests in Digital Media
By Azanis Shahila Aman - September 14, 2021 @ 11:50am

KUALA LUMPUR: Digital Media Nusantara has secured an undisclosed funding from Malaysia Debt Ventures Bhd (MDV) to futureproof the business and develop its financial markets technology.

MDV is a wholly-owned subsidiary of the Minister of Finance Inc.

Digital Media said the funding would be used to accelerate its mission to become Southeast Asia's first fintech media firm, operating at the first mile of the financial markets infrastructure and market intelligence value chain.

"The Pre-series A 'technology bridger' will enable the firm to commence future proofing and digital transformation across its ecosystem of brands, including The Asean Post, reimagining Southeast Asia, and Spotlights Labs," it said today.

Founder and managing director Rohan Ramakrishnan said Digital Media's mission was to bridge the data and information gap surrounding Southeast Asia's capital markets.

Ramakrishnan said the lack of accurate, reliable and structured data was impairing informed decision making and affecting the region's competitiveness.

"Our objective from inception has been to solve this anomaly by aggregating data and streamlining it into actionable insights that can drive the region and its businesses forward," he said in a statement.

"With MDV's support we are now able to move on to the next stage of our development roadmap in time to play a critical role in the Asean Economic Community in 2025," he said.

MDV chief executive officer Nizam Mohamed Nadzri said Digital Media's team had a brilliant idea and strong track record to create an ecosystem that not only solves a problem, but helps to drive Asean forward in terms of global competitiveness.

"We are proud to back a Malaysian-owned company that has a first-mover advantage in the race to amalgamate Asean's financial markets and information systems landscape and play a pivotal role in accelerating this process.

"We are delighted to have been able to set things into motion for them and look forward to seeing more growth and success for Digital Media," said Nizam.

Digital Media will run additional bridging rounds and its larger Series A round to further fuel the development of its growing stable of brands.

Singapore-headquartered corporate finance advisory boutique Yefira Group acted as transaction advisor while Malaysia-based corporate and M&A law boutique firm Peter Ling & Van Geyzel was transaction lawyers.

https://www.nst.com.my/business/2021...-digital-media

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MYEG inks partnership with China's Bubi to set up blockchain platform infrastructure
Sulhi Khalid September 21, 2021 22:14 pm +08

KUALA LUMPUR (Sept 21): MY EG Services Bhd (MYEG) has entered into a partnership with China's Bubi Technologies Co Ltd to build supernodes around the world based on a blockchain system.

Through a Malaysian-incorporated joint venture that will be 51% held by MYEG, the partners will set up supernodes outside China based on a high-performance and highly compatible blockchain system that is developed by Bubi, the group said.

"These supernodes will offer both a public blockchain network, which is one that is permissionless and open to anyone to participate, as well as a private blockchain network, where participation will be restricted to permissioned entities typically required for B2B use cases, with each network designed to serve distinct purposes," MYEG said in a statement today.

"The partnership between MYEG and Bubi, which covers the development of supernodes outside of China, including in Malaysia, Indonesia and the Philippines, among others, is exclusive for an initial three-year period," it added.

MYEG said Bubi, one of China's leading blockchain technology providers, is actively involved in the ongoing development of China's national blockchain infrastructure, deploying its widely used protocol for the network, which has industrial sector applications as one of its main use scenarios.

MYEG also said that the joint venture's private blockchain will be well positioned to bring positive transformation to regional supply chain financing.

"Its application in product traceability and verifiability along with the immutability of records would beget greater levels of trust, accountability and transparency, in turn enabling faster, cheaper and more efficient supply chain financing.

"Meanwhile, the joint venture's public blockchain will offer a platform for developers globally to introduce decentralised applications that will use the 'delegate proof of stake' consensus mechanism, thus fostering vibrant innovation within the network even while ensuring lower energy consumption and higher transaction processing speeds compared with the most commonly used existing public blockchains.

"The public blockchain project will entail the issuance of its own token, which will be used to pay for gas fees required to execute transactions on the network," it added.

MYEG said the roll-out of innovations on the blockchain platforms by the joint venture will be carried out progressively, with the maiden commercial applications targeted to be launched by year end.

The group also expects to introduce more pioneering products and services based on blockchain technologies, in line with its belief that all types of assets will eventually be digitalised on a decentralised or multicentered platform.

Shares in MYEG finished 1.5 sen or 1.64% higher at 93 sen, giving it a market capitalisation of RM6.75 billion.

S Kanagaraju

https://www.theedgemarkets.com/artic...infrastructure

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MDEC and FAOM to partner with Alipay's 10x1000 Tech for Inclusion to bring “Flex” fintech program to Malaysia
Surin Murugiah September 21, 2021 08:01 am +08

KUALA LUMPUR (Sept 21): Malaysia Digital Economy Corporation (MDEC) and FinTech Association of Malaysia (FAOM) are partnering with open and global fintech training platform 10x1000 Tech for Inclusion to Bring the “Flex” Fintech Program to Malaysia.

10x1000 is a philanthropic initiative launched jointly by the International Finance Corporation (IFC), a member of the World Bank Group, and Alipay in 2018.

In a joint statement last week, the three organisations said with the goal to bridge the digital skills gap to drive inclusion, fintech training platform 10x1000 Tech for Inclusion (“10x1000”) launched its latest global program - Fintech Foundation Program Flex, an online certificate program providing practitioners with the mindset, knowledge, and skills to become drivers of digital economic growth.

mdec-and-faom-partner-alipays-10x1000-tech-inclusion-bring-“flex”-fintech-program-malaysia

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ARB launches Cloud Cosec, aimed at PLCs, SMEs, company secretarial firms
By Azanis Shahila Aman - September 23, 2021 @ 2:26pm

KUALA LUMPUR: ARB Bhd has launched ARB Cloud Cosec, a self-developed cloud company secretary platform that will fully automate the existing company secretary services.

ARB Cloud Cosec integrates all companies in Malaysia, enabling the services to be targeted at company secretary firms, public listed companies (PLCs), and small and medium-sized enterprises (SMEs).

The rollout of ARB Cloud Cosec will also help to create a sustainable recurring income of approximately RM100 million per year for the company.

In the near term, ARB aims to capture 10 per cent of the PLCs market and another 20 per cent of the SMEs market.

https://www.nst.com.my/business/2021...retarial-firms

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Petronas' subsidiaries to benefit from hydrogen production
Bernama September 23, 2021 16:36 pm +08

KUALA LUMPUR (Sept 23): Petroliam Nasional Bhd's (Petronas) subsidiaries, such as Petronas Chemicals Group Bhd and Petronas Gas Bhd, are well positioned to begin investing in natural gas-to-hydrogen production, which could diversify their revenue stream, said AmInvestment Bank.

In a research note today, the investment bank said support providers such as Dialog Group Bhd — which has built liquefied natural gas terminals in Pengerang and provided specialist and plant maintenance services — may also be able to take part in the value chain as Petronas ventures into the hydrogen market.

"While exploration and development operators such as Sapura Energy Bhd and Hibiscus Petroleum Bhd produce natural gas, we do not see their near-term involvement in this early-stage technology, which is only likely to be borne by Petronas with its much stronger capability, balance sheet, and governmental support.

“Likewise, even though other smaller service providers such as KNM Group Bhd may have the expertise in fabricating containment vessels and processing equipment, we are uncertain of their financial capability at this juncture," said AmInvestment Bank.

It noted that recently Petronas signed a memorandum of understanding (MoU) with Tokyo-based ENEOS Corp to explore the production of low-carbon hydrogen by Petronas' petrochemical facilities and green hydrogen from renewable energy sources.

The MoU also covers a technical-commercial joint study to develop a competitive clean hydrogen supply chain between Malaysia and Japan.

The study, which will be eligible for funding from the Japanese government's Green Innovation Fund, includes hydrogen production, transportation in methylcyclohexane form and conversion from its original gaseous state into a liquid form to enable large volume deliveries.

AmInvestment Bank said the development of liquid organic hydrogen carrier technology has gained traction due to its chemically stable nature that allows for long-term storage and long-distance transport, as well as leveraging existing conventional oil and petrochemicals infrastructure.

"This eliminates the need to develop new assets, hence improving its cost competitiveness, scalability, and ultimately, financial viability for established energy players," it added.

The investment bank said while blue and grey hydrogen costs the lowest at US$1.50-US$2.50 per kilogramme currently, green hydrogen will become more competitive over the coming decades.

This is because the global average size of electrolysers is expected to increase by over 20 times in the next three years from the average of 3MW presently.

Consequently, AmInvestment Bank has maintained its "overweight" call on the oil and gas industry.

https://www.theedgemarkets.com/artic...gen-production