Regus Malaysia Partners with Tribeca to launch 34th Co-Working Space in Malaysia
Regus Malaysia adds to its growing stable of co-working spaces with the launch of Regus Tribeca, located at the heart of Kuala Lumpur in the Bukit Bintang area. This latest co- working space will be its 34th office space and an amalgamation of work and play. The office has 2 levels and measures 24,000 sq. ft., including a business lounge, 371 workstations, 102 offices and 3 meeting rooms.
Regus Tribeca members are entitled to enjoy a suite of services which includes business grade internet, receptionist, meeting rooms and a well serviced kitchen. The services and offerings provided eliminate the burden of property management. They are also able to have a pleasant dining experience or host an after-meeting dinner at Kuala Lumpur’s well-known restaurant, Wizards@Tribeca.
“We are excited about the launch of our 34th co-working space to reinforce our commitment to offer a dynamic space for networkers and inspire them to be more productive and inspired. In our collaboration with Tribeca, we are going the extra mile to positively influence the way people work. Regus holds a legacy of being at the forefront of meeting the changing needs of our members, depending on their size and budgets,” said Vijayakumar Tangarasan, Country Head, IWG Malaysia, Indonesia and Brunei.
“Tribeca is strategically located within Kuala Lumpur’s leisure and business district. We are proud to partner with Regus Malaysia to provide a conducive shared working space for entrepreneurs, business associates and its members to commune, be productive and inspired. The vibrant location of Tribeca also enables them to wind down after a hard day’s work,” added Ms. Tan Pei Jun, Property & Special Projects Manager of Low Yat Group.
The addition of Regus Tribeca expands Regus Malaysia’s portfolio in providing end to end solutions for its members in the country and the company looks to further expand its portfolio with more offerings in the near future. Members of Regus co-working spaces are given access to more than 3,200 IWG shared working spaces in 110 cities worldwide, which comes with a complete array of flexible work space solutions and services.
Hari Raya is a time of reflection and celebration; a time when children make special effort to seek forgiveness from their parents and elders; and everyone welcomes the new year afresh.
But does that mean children have cornered the act of seeking forgiveness?
CIMB and Ogilvy Malaysia looked at this practice and understand the reality is that at some point, everyone, may feel the need to seek forgiveness for something they did or did not do. This is the foundation of the film ‘Seribu Erti Kesyukuran’ (The True Meaning of Gratitude) which depicts the journey of a family’s struggle, where mother and daughter emerge stronger because they both seek forgiveness and are grateful for each other.
Released in conjunction with Hari Raya, the film follows the simple and heartwarming world of a baker and her ambitious daughter.The mother tries hard to keep her promises, and ultimately seeks forgiveness when she is unable to do so. The daughter is nevertheless understanding and grateful for her mother’s hard work and love. Together, they vow to always keep trying and hope for a better future together. Through this film, CIMB shines a spotlight on the act of ‘forgiveness’ – making it a virtue of everyone, young and old.
Beyond the film, the campaign aims to nudge Malaysians to think about the special people in their lives who have given them their all, even when they didn’t have much to give. To encourage Malaysians to do just that, the campaign uses #ErtiKesyukuran, a platform for Malaysians to express their gratitude to someone through social dedications. 60 entries with the most compelling stories will be rewarded with grand prizes to be shared with the person for which they are grateful.
Mohamed Adam Wee Abdullah, CIMB Group Chief Marketing Officer, CIMB said, “Beyond the celebrations and togetherness, the spirit of Hari Raya is strongly rooted in forgiveness and gratitude. The insight that age has nothing to do with seeking forgiveness gave us the impetus to explore this story of a mother and daughter. Inspired by real life stories, any parent or child can relate to this story full of beautiful little moments. Every parent carries the weight of their children’s expectations in wanting to provide the best for them. If we are grateful for who is in our lives and never give up on them, there’s always hope for tomorrow. In that spirit of gratefulness, CIMB wishes Salam Aidilfitri to all Malaysians.”
Kurt Novack, Executive Creative Director at Ogilvy Malaysia, said, “We believe that the future is always full of hope. Although the present may be a struggle at times, the flame of hope must always be kept alive for a better tomorrow. It takes strong bonds to help us see the many reasons we should be grateful. This is our story.”
This campaign marks the second festive campaign collaboration between CIMB and Ogilvy following the Chinese New Year campaign earlier this year which told a story on the beauty of imperfections with “You-Sang, We-Sang”.
Nizwani Shahar, Co-Chief Executive at Ogilvy Malaysia, added “We are proud to work with CIMB on their festive campaigns. For Hari Raya, we wanted to share a simple story of the true meaning of progress through gratitude and forgiveness. We hope to inspire all Malaysians to move forward with what we have achieved, no matter how big or small.”
S&P Global Ratings said that the first-quarter 2019 financial results of major Malaysian banks point to a weakening trend in profitability amid escalating trade tensions. We believe banks operating in the local Malaysian market will see visible margin compression, accompanied by slower loan growth and higher non-interest income volatility for the rest of 2019. Asset quality will likely hold, despite downward pressure.
All five Malaysian banking groups that are covered by S&P Global Ratings reported a year-on-year margin decline in their first-quarter 2019 results: -9 basis points (bps) for both Malayan Banking Bhd. (Maybank; A-/Stable/A-2) and CIMB Group Holdings Bhd. (we rate CIMB Bank Bhd. [A-/Stable/A-2], a key subsidiary for CIMB Group); -12 bps for RHB Bank Bhd.(BBB+/Stable/A-2); -14 bps for Public Bank Bhd. (A-/Stable/A-2); and -26 bps for AMMB Holdings Bhd., whose key commercial banking subsidiary is AmBank (M) Bhd. (BBB+/Stable/A-2).
Even on a sequential basis, three out of the five banks have shown quarterly margin deterioration: -8 bps for Maybank; -4 bps for RHB; and -10 bps for AMMB. Meanwhile, two recorded moderate improvements: 1 bp for Public Bank and 3 bps for CIMB. However, these improvements are either unsustainable or masked by their overseas operations’ net interest margin recovery (in the case of Indonesia for CIMB).
More importantly, the margin compression was before Bank Negara Malaysia’s 25-bps overnight policy rate cut in May, which means there will be further downside ahead until end-2019 of which we typically assume a six- to nine-month lag for the repricing of these banks’ assets and liabilities. Continuous tight liquidity in the market–amid persistent deposit competition–clearly does not help and is increasing the cost of funding. Heightened capital market volatility amid escalating trade tensions between the U.S. and China–while not a risk factor unique to Malaysia–is dampening the outlook on local banks’ non-interest revenues.
“All these factors contribute to our negative view on Malaysian banks’ profitability trend this year–especially when we believe there is limited room for further cost cutting,” said S&P Global Ratings credit analyst Nancy Duan. We believe a lot investments made by banks nowadays are more structural and strategic (e.g. technological investments), which should not be called off easily.
“All in all, we are likely to see a disappointing 2019 in terms of bottom-line earnings”.
The good news is that we continue to see resilience in Malaysian banks’ asset quality profile at this uncertain time, despite downward pressure. We are of the opinion that the banks’ domestic portfolio will remain sound in general, supported by healthy private consumption and the revival of previously suspended infrastructure projects. Small and midsize enterprises as well as low-income households are more vulnerable in a slowing economy, but the lower interest rates could help cushion the impact.
This report does not constitute a rating action.
S&P Global Ratings, part of S&P Global Inc. (NYSE: SPGI), is the world’s leading provider of independent credit risk research. We publish more than a million credit ratings on debt issued by sovereign, municipal, corporate and financial sector entities. With over 1,400 credit analysts in 26 countries, and more than 150 years’ experience of assessing credit risk, we offer a unique combination of global coverage and local insight. Our research and opinions about relative credit risk provide market participants with information that helps to support the growth of transparent, liquid debt markets worldwide.
Trend Micro Incorporated, a global leader in cybersecurity solutions, announced partnerships with several leading cybersecurity training providers to help businesses protect their employees from the latest cyber threats. To ensure customers have a wide variety of training styles and formats, Trend Micro is teaming up with four leading partners: NINJIO, InfoSec, NextTech Security, and GoldPhish.
The new training materials are available on Trend Micro’s Phish Insight tool, which is a free, highly flexible security awareness solution. This new educational platform will offer customers a diverse library of training content to enhance employee awareness initiatives and arm organisations with the resources they need to improve overall enterprise security.
According to CyberSecurity Malaysia (CSM), cyber fraud recorded the highest number of incidents with 1,963 out of the total 2,977 cybercrime cases reported from January to April this year. Trend Micro emphasises that all businesses today are susceptible to socially engineered phishing emails and Business Email Compromise (BEC) attacks, which can cause severe financial and reputational damage.
“We want to help make the digital world safer and have partnered with four leading organisations from around the world to offer educational resources to complement our free Phish Insight tool. Adding educational resources allow companies to not only test their employees’ security awareness, but also improve this awareness,” said Goh Chee Hoh, Managing Director at Trend Micro Malaysia.
Trend Micro’s 2018 Security Roundup report revealed that Malaysia ranked second in Southeast Asia for experiencing the most business email compromise (BEC) attacks last year, only preceded by Singapore. The latest improvements to Phish Insight will enable businesses to better train staff to curb the impact of these threats.
In line with customer feedback, Trend Micro is working with multiple proven training providers to offer a wide range of content to fit the broadest possible variety of organisational cultures – whether that’s a more conservative teaching style or animated story telling. Some firms will prefer micro learning experiences for their employees whereas other will prefer longer more detailed training sessions, the key is to have enough choice to meet this demand.
Customers will have access to the content that best fits their needs with no contracts or subscriptions, completely free for the first six months during a beta period. In addition to that, Trend Micro will also be launching a Certification Program in IT Security (CPITS) in SEA in 2020. The program aims to equip recent computer science graduates with hands-on experience and skills, helping them kickstart a career in the cybersecurity industry with Trend Micro.
Village at Pasir Panjang in Singapore,a development byMalaysia’s Selangor Dredging Berhad (SDB) Group, has been announced as the World Gold Winner of FIABCI World Prix d’Excellence Awards 2019 in the Residential (Low-Rise) category during the 2019 FIABCI World Prix d’Excellence Awards held at the Golden Palace, Moscow, Russia.
Village at Pasir Panjang comprises 148 exclusive residences consisting of 2, 3 and 4 bedroom units and 3 and 4 bedroom state-of-the-art penthouses, located in a quiet low-density residential enclave at 463 Pasir Panjang Road along the highly sought after West Coast area in the western part of Singapore.
Characterised by simplicity and purity of lines, Village at Pasir Panjang was inspired by the concept of kampung (which means “village” in Bahasa). For example, instead of conventional shutting doors, the development is designed with the veranda inspired balconies facing inward, overlooking into lawn to encourage community living.
“In land-scarce Singapore, people desire and appreciate the great open spaces, outdoor activities, quiet sitting areas and green pathways which could all be found in Village at Pasir Panjang,” said Ms Teh Lip Kim, Group Managing Director of SDB.
“We are indeed delighted that our development Village at Pasir Panjang is the World Gold Winner for FIABCI World Prix d’Excellence Awards 2019. This is second FIABCI Prix d’Excellence in Singapore and our sixth FIABCI World Prix d’Excellence win and we are indeed proud to have flown the Malaysian flag across the Causeway. We will work towards having more award-winning developments both in Malaysia and Singapore,” she added.
Various SDB developments, namely Hijauan on Cavenagh (Singapore), Park Seven (KLCC), 20trees (Melawati), Dedaun (Ampang) and the River Rehabilitation project on Sungai Satu, adjacent to By The Sea (Batu Ferringhi, Penang), have participated at the global level of the World FIABCI Prix d’Excellence awards. In total, the SDB Group has since garnered 1 gold and 4 silver awards at this coveted international competition throughout the years.
FIABCI is the French acronym for ‘International Real Estate Federation’, which recognises excellence in real estate internationally.
To date, the SDB Group has 14 projects in Malaysia and 8 in Singapore, respectively.
Presently, the Group is embarking on the SqWhere mixed development project in Sungai Buloh comprising a 31-storey SOVO (or “Small Office, Virtual Office”) Tower, 27-storey Serviced Apartment Tower and Retail Offices, all linked directly to the Kampung Selamat MRT station.
In Cheras, the SDB Group has also started construction of its Una@Peel Serviced Apartments.
Across the Causeway, the SDB Group has launched two new projects; namely Jui Residences, a freehold condominium along Serangoon Road and built to incorporate a heritage site, and OneDraycott, a 64-unit residential development located in District 10 and within walking distance to Singapore’s famous Orchard Road.
As part of its strategy to accelerate the development of AI devices for the home, LG has developed its own artificial intelligence chip (AI Chip) with proprietary LG Neural Engine to better mimic the neural network of the human brain to greatly improve the processing of deep learning algorithms.
The AI Chip incorporates visual intelligence to better recognise and distinguish space,
location, objects and users while voice intelligence accurately recognises voice and
noise characteristics while product intelligence enhances the capabilities of the device
by detecting physical and chemical changes in the environment. The chip also makes it
possible to implement customised AI services by processing and learning from video
and audio data in order to enhance recognition of the user’s emotions and behaviors and the situational context.
Products utilising the LG AI Chip take advantage of the On-Device AI to operate even
without a network connection. What’s more, LG’s AI Chip employs a powerful security
engine to better protect personal data from external hacking. Processing that does not
require high security is designed to run in a general zone and jobs that require higher
security run in a separate hardware-implemented security zone.
LG’s AI Chip is designed to enhance the recognition performance in the products it
powers such as an advanced image recognition engine for simultaneous localisation and mapping (SLAM). For example, its powerful image processing function corrects for
distortion caused by wide angle lenses and generates brighter and clearer images in dark environments. LG Electronics plans to include the new AI Chip in future robot vacuum cleaners, washing machines, refrigerator and even air conditioners.
In addition, LG will expand the reach of its artificial intelligence solutions through collaborations with outside companies, universities and research laboratories.
“Our AI Chip is designed to provide optimised artificial intelligence solutions for future
LG products,” said I.P. Park, president and Chief Technology Officer of LG Electronics.
“This will further enhance the three key pillars of our artificial intelligence strategy – evolve, connect and open – and provide customers with an improved experience for a better life.”
Singapore has ranked as the world’s most competitive economy for the first time since 2010, according to the IMD World Competitiveness Rankings, as the United States slipped from the top spot, while economic uncertainty took its toll on conditions in Europe.
Singapore’s rise to the top was driven by its advanced technological infrastructure, the availability of skilled labor, favorable immigration laws, and efficient ways to set up new businesses. Hong Kong SAR held on to second place, helped by a benign tax and business policy environment and access to business finance.
The initial boost to confidence from President Donald Trump’s first wave of tax policies appears to have faded in the United States, according to the ranking. While still setting the pace globally for levels of infrastructure and economic performance, the competitiveness of the world’s biggest economy was hit by higher fuel prices, weaker hi-tech exports and fluctuations in the value of the dollar.
“In a year of high uncertainty in global markets due to rapid changes in the international political landscape as well as trade relations, the quality of institutions seem to be the unifying element for increasing prosperity. A strong institutional framework provides the stability for business to invest and innovate, ensuring a higher quality of life for citizens,”said Arturo Bris, IMD Professor and Director of IMD World Competitiveness Center, the research center which compiles the ranking.
Economists regard competitiveness as vital for the long-term health of a country’s economy as it empowers businesses to achieve sustainable growth, generate jobs and, ultimately, enhance the welfare of citizens.
The IMD World Competitiveness Rankings, established in 1989, incorporate 235 indicators from each of the 63 ranked economies. The ranking takes into account a wide range of “hard” statistics such as unemployment, GDP and government spending on health and education, as well as “soft” data from an Executive Opinion Survey covering topics such as social cohesion, globalisation and corruption.
This information feeds into four categories – economic performance, infrastructure, government efficiency and business efficiency – to give a final score for each country. There is no one-size-fits-all solution for competitiveness, but the best performing countries tend to score well across all four categories.
Switzerland climbed to fourth place from fifth, helped by economic growth, the stability of the Swiss franc and high-quality infrastructure. The Alpine economy ranked top for university and management education, health services and quality of life.
The effects of rising fuel prices influenced the ranking, with inflation reducing competitiveness in some countries. Stronger trade revenues helped oil and gas producers such as this year’s biggest climber Saudi Arabia, which jumped 13 places to 26th, and Qatar, which entered the top 10 for the first time since 2013.
The United Arab Emirates – ranked 15th as recently as 2016 – entered the top five for the first time. The UAE now ranks first globally for business efficiency, outshining other economies in areas such as productivity, digital transformation and entrepreneurship.
Venezuela remains anchored to the bottom of the ranking, hit by inflation, poor access to credit and a weak economy. The South American economy ranks the lowest for three out of four of the main criteria groups – economic performance, government efficiency and infrastructure.
REGIONS
Asia
The Asia-Pacific region emerged as a beacon for competitiveness, with 11 out of 14 economies either improving or holding their ground, led by Singapore and Hong Kong SAR at the top of the global chart.
Indonesia leapt eleven places to 32nd, enjoying the region’s biggest improvement, thanks to increased efficiency in the government sector as well as improvement in infrastructure and business conditions. The southern Asian country is characterised by the lowest cost for labor across the 63 economies studied.
Thailand, driven by an increase in foreign direct investments and productivity, advanced five places to 25th position in 2019.
Japan fell five places to 30th hampered by a sluggish economy, government debt and a weakening business environment.
Europe
Competitiveness across Europe has struggled to gain ground with most economies on the decline or standing still. The Nordics, traditionally a powerhouse region for competitiveness, have failed to make significant progress this year, while ongoing uncertainty over Brexit has seen the United Kingdom fall from 20th to 23rd.
The biggest climber for the region, Ireland, rose five places to 7th as business conditions improved alongside a strengthening economy. According to the data, Ireland leads the way globally for investment incentives, the handling of public sector contracts and areas such as image, branding and talent management. Portugal posted the biggest fall in the region, down six places to 39th – a reversal from gains made in the previous year.
Middle East
A story of two halves in the region, as fossil fuel producers such as UAE, Qatar and Saudi Arabia climbed the rankings, while inflation had a negative impact on Turkey (51st) and Jordan (57th). Israel (24th) declined mainly because of a negative performance across different government efficiency indicators, such as its budget deficit.
Saudi Arabia achieved the biggest climb in the global rankings, up 13 places to 26th, despite a fall in its overall economic performance score. It registered the highest global ranking for investment in education and fared well in public and business finance.
Latin America
Latin American countries continue to fare poorly on the ranking. Venezuela was cemented at the bottom of the ranking for yet another year as the political and economic crisis continues to take its toll. The highest ranked country from this region, Chile, suffered the largest drop this year, down 7 places to 42, while Brazil and Argentina also ranked in the bottom five.
Brazil ranked the lowest among the 63 countries studied for the cost of credit, making it the most expensive country for businesses to borrow, and for language skills.
South Africa
An inferior score for infrastructure – especially in health, education and energy – wiped out improvements in the business landscape as South Africa dipped to 56th from 53rd.
CATEGORIES
Economic performance
This category measures the competitive strengths of the domestic economy and its macroeconomic performance.
1.
USA (1)
2.
China Mainland (2)
3.
Qatar (5)
4.
Luxembourg (4)
5.
Singapore (7)
Government efficiency
This category measures the effect of government policies on competitiveness.
1.
Hong Kong SAR (1)
2.
UAE (4)
3.
Singapore (3)
4.
Switzerland (2)
5.
Qatar (10)
Business efficiency
This category measures how innovative, profitable and responsible businesses are in each country.
1.
UAE (2)
2.
Hong Kong (1)
3.
Ireland (10)
4.
Netherlands (6)
5.
Singapore (11)
Infrastructure
This category measures how effective infrastructure is in delivering the basic, technological, scientific and human resources needs of business.
Huawei today filed a motion for summary judgment as part of the process to challenge the constitutionality of Section 889 of the 2019 National Defence Authorisation Act (2019 NDAA). It also called on the US government to halt its state-sanctioned campaign against Huawei because it will not deliver cybersecurity.
Banning Huawei using cybersecurity as an excuse “will do nothing to make networks more secure. They provide a false sense of security, and distract attention from the real challenges we face,” said Song Liuping, Huawei’s chief legal officer. “Politicians in the US are using the strength of an entire nation to come after a private company,” Song noted. “This is not normal. Almost never seen in history.”
“The US government has provided no evidence to show that Huawei is a security threat. There is no gun, no smoke. Only speculation,” Song added.
In the complaint, Huawei argues that Section 889 of the 2019 NDAA singles out Huawei by name and not only bars US government agencies from buying Huawei equipment and services, but also bars them from contracting with or awarding grants or loans to third parties who buy Huawei equipment or services—even if there is no impact or connection to the US government.
Song also addressed the addition of Huawei to the “Entity List” by the US Commerce Department two weeks ago. “This sets a dangerous precedent. Today it’s telecoms and Huawei. Tomorrow it could be your industry, your company, your consumers,” he said.
“The judicial system is the last line of defence for justice. Huawei has confidence in the independence and integrity of the US judicial system. We hope that mistakes in the NDAA can be corrected by the court,” Song added.
Glen Nager, Huawei’s lead counsel for the case, said Section 889 of the 2019 NDAA violates the Bill of Attainder, Due Process, and Vesting Clauses of the United States Constitution. Thus, the case is purely “a matter of law” as there are no facts at issue, thereby justifying the motion for a summary judgement to speed up the process.
Huawei believes that US suppression of Huawei will not help make networks more secure. Huawei expects the US to take the right approach and adopt honest and effective measures to enhance cybersecurity for everyone, if the US government’s real goal is security.
In line with a court scheduling order, a hearing on the motion is set for September 19.
Naylor Farms, a UK-based company established since 1909 has signed an agreement with QSR Brands (M) Holdings Bhd (QSR Brands) through its manufacturing division, QSR Manufacturing Sdn Bhd (QSRM) to provide the company with consistent source of premium quality cabbage for the world-famous KFC Coleslaw.
“We are excited to venture into this partnership with Naylor Farms who shares the same passion and commitment to deliver only the highest quality food to our customers. We also take great pride in serving the freshest and Halal-compliant wholesome food, and this remains at the core of our business, until today,” said Dato’ Seri Mohamed Azahari Mohamed Kamil, Managing Director of QSR Brands.
“This partnership with QSR Brands is an extension of our commitment to quality, where our vegetables are lovingly grown to bring the freshest flavours to our customers in an instant,” said Mr. Simon Naylor, the third generation of Naylor Farms.
Having an extensive network of restaurants with more than 830 KFC and 470 Pizza Hut, QSR Brands is known as the only fully integrated food operator in the country. QSRM, as one of its subsidiaries, is responsible for producing KFC’s refreshing signature side, coleslaw that Malaysian consumers have come to love.
Located in Lincolnshire England, Naylor Farms which for the past 110 years has been known for its supply of quality produce and the supply of the British Coleslaw cabbage in the UK. Its products undergo meticulous processes and are Halal-certified under the Europe Accreditation as part of its highest standards to ensure consistency.
In line with QSR Brands’ consummate halal assurance to consumers, the supply of the British white cabbage is in compliance to the requirement by Shariah Law as well as Halal requirements by JAKIM. QSR Brands operates stringent internal controls across its ‘Farm-to-Fork’ operations, including raw materials procurement to ensure all of its products conform to Halal requirement.
The three-year agreement was formalised by Mr. Simon Naylor, the third generation of Naylor Farms and Mr. Adi Wira Razak, Chief Executive Officer Upstream Division, QSR Brands; witnessed by Dato’ Seri Mohamed Azahari Mohamed Kamil, Managing Director of QSR Brands and Jennifer Lopez, Executive Director of British Malaysian Chamber of Commerce Berhad at a signing ceremony in Petaling Jaya.
Rolls-Royce Motor Cars unveils its latest Collection Car, Wraith Eagle VIII, on the shores of Lake Como at Concorso d’Eleganza Villa d’Este. Created by the Bespoke Collective at the House of Rolls-Royce, a Collection of just 50 Wraith Eagle VIII motor cars will tell the epic tale of one of the most pivotal moments of the 20th century.
Captain John Alcock and Lieutenant Arthur Brown braved uncharted skies to make the first nonstop transatlantic flight in June, 1919. Contemporaries of Sir Henry Royce, Alcock and Brown flew non-stop from St. John’s, Newfoundland to Clifden, Ireland in a modified First World War Vickers Vimy bomber aircraft.
The bi-plane was powered by twin 20.3 litre, 350 bhp, Rolls-Royce Eagle VIII engines. It is from this remarkable engine that this Collection takes its name. Rolls-Royce marks the 100 year anniversary of this feat with a highly contemporary Collection that speaks to today’s adventurers, whilst honouring those who changed the course of history.
Torsten Müller-Ötvös, Chief Executive, Rolls-Royce Motor Cars, commented, “Wraith Eagle VIII is at once an object of desire; an homage to heroes and a protagonist to today’s visionaries. This Rolls-Royce Collection demonstrates the extraordinary skill of our Bespoke Collective at the Home of Rolls-Royce in Goodwood, West Sussex. Bespoke remains the jewel in the crown of the marque, creating luxury items that defy the trend of mass luxury manufacturers using ‘tick-box’ options to answer customer demand.”
Just 50 of these highly collectable motor cars will be created for discerning collectors at the Home of Rolls-Royce in Goodwood, West Sussex – a Centre of Global Luxury Manufacturing Excellence.
Fusionex Founder and Group CEO Dato’ Seri Ivan Teh has been conferred an Honorary Fellowship of the Malaysian Oil Scientists’ and Technologists’ Association (MOSTA) in recognition of his distinguished contributions to the palm oil industry.
Teh received the honour at a presentation ceremony held during the ‘Future of Palm Oil Industry’ event in Kuala Lumpur recently. Teh was presented the honour by MOSTA President Tan Sri Datuk Dr Augustine Ong Soon Hock and witnessed by the Malaysian Minister of Primary Industries YB Teresa Kok Suh Sim, who presented the keynote address.
The event included knowledge sharing sessions that focused on the digitalisation and modernisation of the palm oil industry using cutting-edge technologies such as Artificial Intelligence (AI) and Industry Revolution (IR) 4.0.
Various subject matter experts including those from Fusionex spoke to over 100 palm oil industry players, leaders, researchers, and scientists on how Blockchain, Trade Facilitation, and other such technologies could help revolutionize the palm oil sector.
Fusionex Founder & Group CEO Dato’ Seri Ivan Teh said, “I am honoured and grateful for having been conferred this award by MOSTA. The palm oil industry is such a vibrant and growing sector with immense potential. As with any field, there are always challenges and opportunities. We at Fusionex are committed to help the palm oil industry continuously improve and excel through the use of effective technology. To that end, we are truly excited and passionate to be working with great partners like MOSTA as well as many industry players to uplift the standard, quality, productivity, and efficiency of the palm oil industry.”
MOSTA President Tan Sri Datuk Dr Augustine Ong Soon Hock said, “MOSTA appreciates the contribution of Teh for initiating the application of AI to the palm oil industry through his invention in the milling process and proposed marketing of palm oil.
His suggestions on a smart plantation, smart milling, and smart down-streaming of palm oil will enhance the future of the palm oil industry. He is blazing these new paths with up-to-date knowledge and facilities coupled with an excellent presentation.”
AmInvest has been honoured as Malaysia’s Best Pension Fund Manager by Asia Asset Management at its 2019 Best of the Best Awards (“Awards”).
Held annually for the past 15 years, the Awards recognise the most outstanding players in the funds management business in Asia. AmInvest was the recipient of this award for four consecutive years from 2013 to 2016.2
Asia Asset Management had assessed AmInvest over three-year and five-year periods on how it has managed its domestic pension mandates and Private Retirement Scheme (“AmPRS”) funds, the size of these mandates and returns against relevant benchmarks, as well as investor education initiatives undertaken.
“Our ability to understand and anticipate the ever-changing market environment has given us the foresight to develop retirement solutions as well as a robust investment process to deliver consistent positive returns over the long term,” said Goh Wee Peng, Chief Executive Officer of AmInvest.
The growth of AmInvest’s pension business has been on an upward trajectory throughout the years. Over the past five years, AmInvest’s pension mandates and AmPRS funds’ assets under management recorded a 26 percent growth or around RM2.75 billion.
AmInvest, the funds management arm of AmInvestment Bank also offers one of the most diverse range of private retirement funds in the market comprising 10 AmPRS funds across various asset classes and geographical exposure, in both the conventional and Shariah-compliant spaces. These funds differ in terms of expected returns and risks for selection according to respective retirement needs, goals and risk tolerance.
AmInvest is the only Private Retirement Scheme (“PRS”) provider in the country to offer unique PRS non-core fund offerings, namely a real estate Asia Pacific fund called AmPRS-Asia Pacific REITs and two bond funds, AmPRS-Tactical Bond and AmPRS-Dynamic# Sukuk.
“We are honoured to receive this acknowledgement as it is truly a testament of our team’s unwavering commitment to performance excellence, and the affirmation and trust of our clients and investors in our capabilities to manage their pension and retirement investments,” said Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group.
AmInvest claimed the top three spots for the best performing PRS funds over a one-year performance period as at 19th April 2019. AmPRS – Asia Pacific REITs ranked first with a total return (a measure of the fund’s performance comprising income distribution and capital gains) of around 16 percent. AmPRS-Tactical Bond took the second spot with a total return of about 6.9 percent, whereas AmPRS – Dynamic# Sukuk came in third with a total return of around 6.8 percent. — Bernama
A survey of 1,000 people in Singapore by ACCA (the Association of Chartered Certified Accountants) has revealed their expectation that auditors should evolve to prevent company failures. The survey combined two types of questions: those that test knowledge about the nature of an audit and those that ask about expectations relating to an audit.
The role of an auditor essentially is giving an opinion on whether the financial statements give a true and fair view of the financial position and performance of the company. Overall, it appears from the survey, that the knowledge of what auditors do is generally poor. When asked to define the role of an auditor, only 31 percent of respondents from Singapore were able to do so.
While avoiding company failure is primarily the responsibility of a company’s management, the reality is audit may identify some conditions that could lead to a company’s failure in the future. This may explain why about half of those questioned believe auditors are responsible for avoiding company failures – the highest of all 11 countries featured in the survey. The report notes that there will always be risks to a company that the audit does not currently address, such as the sustainability of the company’s business model.
The survey was conducted in association with Chartered Accountants Australia and New Zealand (CAANZ). ACCA believes it highlights a legitimate concern, pinpointing the expectation gap as the most pertinent issue facing the profession.
The gap should be assessed in three components: the knowledge gap, the performance gap and the evolution gap. The report proposes addressing each of these separately.
Maggie McGhee, executive director – governance at ACCA, said: “ACCA’s survey highlights challenges for the accountancy profession, regulators and government in how to respond to public expectations of audit.
“The profession has long spoken about the expectation gap in audit, and our research highlights the failure of the gap to close. Globally, it is clear that further education on the auditor’s role is required, backed by a proactive approach from the profession to address public concern.”
Reuter Chua, country head, ACCA Singapore observes, “Our research shows the urgent need for an open dialogue involving the profession, stakeholders and the public to understand what kind of audit future the public expects.
“The data shows high levels of misconception, and that the public are telling us they see audit is part of the solution, a robust audit sector exercising the appropriate levels of professional scepticism. We must work together to address their legitimate concerns about audit.”
Ricoh Malaysia unveils its latest range of IM (Intelligent Machine) series of Multi Function Devices.
The new series boasts a host of features and attributes set to galvanise the industry with its Dynamic Workplace Intelligence – a scalable yet affordable platform comprising of intelligent technology and support, smart solutions and advanced applications with one aim in mind – to boost productivity while helping organisations to transform into a digital workplace by managing and converting information into intelligence with cutting-edge technology.
This includes Ricoh’s propriety Always Current Technology. Introduced this year, Ricoh’s Always Current Technology allows users and organisations to update device software quickly, efficiently and easily to enjoy the benefits of latest functionalities, technologies, and features, regardless of when the device was purchased or how long they have had it, making issues associated with bug repairs a thing of the past.
More importantly, the technology also ensures that devices are always protected with latest security features. Moreover, the technology also enables secure access to data while ensuring that built-in security features and products do not hinder business innovation, functionality or productivity.
“At Ricoh, we understand that copiers, printers and multifunction devices are essential for any business. With work styles and technology evolving so rapidly, our customers constantly seek improvements, new functions and enhancements to help improve productivity and efficiency,” said Alice Lee, Managing Director of Ricoh Malaysia Sdn. Bhd.
“Being industry leaders, we understand that enhancements take time for research, design and manufacture, which means customers might have to wait for new enhancement. This is where Ricoh’s Always Current Technology comes in as a game-changer, delivering timely solutions to solve business needs,” she added.
Productivity with Ricoh’s new IM series is further enhanced with a new user interface and Smart Operating Panel (SOP). This is further enhanced with Ricoh’s Innovative Application, EZ Plus 2.0. In its very essence, Ricoh’s EZ Plus 2.0 enables you to create fully customised printed materials and make edits using the wide range of tools from the application.
Designed for simple and easy integration into any office and business environment, Ricoh’s EZ Plus 2.0 has created smarter and more convenient ways to work through 2 main applications, the EZ Doc and EZ Creative. EZ Doc is an app to rebuild, recreate, and refurnish any document. EZ Creative allows you to design and personalise your document within a single operation.
The new device also has Ricoh Smart Integration, which is a platform that provides cloud-based applications and workflow integration that are available in Ricoh’s Application Site. It allows users to perform scanning with e-storage available on cloud platforms such as Google Drive, Dropbox, OneDrive, Office 365 (Sharepoint) for workflow convenience; enabling users to access their documents anytime, anywhere.
Meanwhile, users can choose between a default copy mode or an all-view copy mode which also features movie and video guidance. For instance, when the toner is running low or out, a message featuring a “play movie” will pop up, which users can activate to play a video to understand the steps in changing toners easily and in a foolproof manner.
The powerhouse of Ricoh’s new Intelligent Machines also features dynamic improvements to its hardware systems which further complement increased productivity at the workplace. This is made possible through faster scan speeds, an improved CPU and improved usability of machine operation, for instance, easy replacement of parts with plug and play support, higher toner yield and a tiltable user interface screen. This user interface offers smart and quick navigation with the ability to customise the layout to best suit one’s needs.
Additionally, the new IM series will also feature small size paper scan support, which facilitates the scanning of cheques, for instance, and a host of other available and optional features which include internal folding and double-sided scanning.
Ricoh’s new IM series – an industry first which will spearhead the development of further models in the future, was officiated today in a special Buka Puasa preview event which also featured a showcase of Ricoh’s IM C series launch with members of the media. Held in Subang Jaya, the event also featured a 15-foot showcase truck, specially decked with facilities to showcase and demonstrate Ricoh’s all new IM series, where event participants could get a personal in depth look into Ricoh’s IM series.
Members of the public too, can look forward to catching the truck in various locations around the Klang Valley in a special roadshow to further promote Ricoh’s industry-leading IM series of devices and its features.
“Scalable. Secure. Sustainable. Simple. These are the driving forces behind our all new IM series. When we develop our products, we do so with the end-result in mind – increasing productivity without compromising on security and safety. This enables us to directly influence and complement the way business is conducted, in creative and innovative ways, which were never thought to be possible previously,” said Lee.
Recognised the world over as a game changer in the technological solutions arena in line with its “Imagine. Change” philosophy, Ricoh has indeed contributed significantly to technological advancements in the workplace, allowing business owners to streamline processes while yielding greater productivity. Among its notable contributions to business and workplaces in recent times include thought leadership and expertise in document management solutions, information technology services, commercial and industrial printing, cameras and optical devices, as well as industrial systems.
More information about Ricoh’s new IM series of devises can be found at www.ricoh.com.my.
The lifestyle property developer KSK Land has officially launched Tower B of the branded residences component at 8 Conlay, the company’s maiden project.
Called YOO8 serviced by Kempinski, the residential tower’s interiors were designed by
Kelly Hoppen for YOO to craft a modern urban oasis of luxury, one that reaches new heights in meeting the market’s increasingly sophisticated demand for branded residences.
The project leads the way in the revitalisation of the property scene in Malaysia, defining the future of luxury branded residences here and throughout Southeast Asia while delivering on the KSK Land promise to create a one-of-a-kind lifestyle development.
With interiors designed to reflect Kelly Hoppen’s two exclusive concepts, Spring and Urban, YOO8 Tower B’s 498 serviced residences range in size from 705 sq. ft. to 1,328 sq. ft. across 56 floors, setting a retail benchmark of RM3,300 per sq. ft.
Best known for her clean lines, neutral tones and an unmistakable tactile opulence, Kelly Hoppen MBE has curated the Spring concept suites to embody both harmony and calm. With soothing swathes of green set against a fresh, naturally hued backdrop, these spaces make the most of weathered surfaces, unbleached fabrics, deep pile carpets and milky glass, gently bringing to mind long, leisurely days spent in a luxurious country hideaway.
Exuding timeless elegance, the Urban concept suites will come as a positive delight to fans of classic Hoppen style. Appealing to the inner cosmopolitan, linear muted tones and repeated motifs inspire a feeling of understated glamour, resulting in a sophisticated space enhanced with the aesthetic harmony of ambient lighting, taupe stone and dark timber flooring.
“Our branded residences are a level above five-star luxury,” said Managing Director of KSK Land, Joanne Kua. “For YOO8 serviced by Kempinski, we have worked closely and
collaboratively with our design partners YOO to disrupt traditional property development in an age of high customer expectation and the on-demand economy.”
Conveniently situated on nearly four acres of freehold land between the prestigious KLCC area and the bustling Golden Triangle in Kuala Lumpur, 8 Conlay is an integrated development comprised of two towers devoted exclusively to branded serviced residences called YOO8 serviced by Kempinski, one tower encompassing the five-star 8 Conlay Kempinski Hotel Kuala Lumpur, and a four-storey lifestyle retail podium. The property has a gross floor area (GFA) of 3,297,425 sq. ft. and a gross development value (GDV) of RM5.4 billion.
Since construction of the property’s five-floor basement car park began in 2015, followed by the superstructure in 2017, the development of 8 Conlay has been progressing rapidly and on schedule.
YOO8 Tower A, which was designed by the Hong Kong-based design collective Steve
Leung & YOO, has seen a take-up rate of over 75 percent of its 564 units. The lifestyle retail podium is expected to be completed in mid-2020, followed by Tower A in
late 2020 and Tower B thereafter, while the five-star luxury Kempinski Hotel is planned to open in 2021. As of May 2019, YOO8 Towers A and B have received GreenRE certification, whilst the upcoming hotel has been LEED certified.
KSK Land continues to add value for its customers, having recently launched the 8 Conlay mobile app for on-the-go YOO8 Owners who want to check on the progress of their residence wherever they may be. Other features include virtual tours of the branded residences and facilities floor and a live in-app chat with Kempinski’s ‘Lady in Red’ for a range of personalised concierge services. The app also provides access to each YOO8 Owner’s complimentary Kempinski Discovery Card, the hotel’s worldwide loyalty programme.
In addition to the app, YOO8 Owners will also have daily access to The Lounge at Bangunan KSK. The Lounge provides an exclusive space for YOO8 Owners and their guests to meet in comfort, with a carefully selected menu of handcrafted coffee beverages, fresh juices and the finest locally sourced teas, in addition to an assortment of fine wine and spirits.
“At KSK Land, we believe our job as a property developer is to be a stage maker. With that vision, we are singled-minded in our commitment to redefine the way we live,
work and play with ground-breaking, meticulously designed lifestyle concepts,” said Kua.
“8 Conlay is an authentic and financially viable project dedicated to the highest standards of design excellence and the finest traditions of European hospitality in the end-to-end delivery of our customer experience.
“This unique project serves as a trailblazer for the positive outlook and appetite for luxury branded serviced residences in Malaysia,” added Kua.
The show units for YOO8 Tower B design by Kelly Hoppen for YOO are now available for private previews at Kelly Hoppen Place inside the 8 Conlay Sales Gallery located at Bangunan KSK, 32, Jalan Yap Ah Shak, 50300 Kuala Lumpur, Malaysia.
For private viewings, book your appointment at +603 2698 0788 or 8conlay@ kskgroup.com.
Universal Robots (UR), Denmark-based collaborative robots (cobots) market leader has identified Malaysia as a key growth market in line with the country’s increased focus on automation and robotics, as outlined in its National Policy on Industry 4.0 (Industry4WRD), to transform its manufacturing sector.
The manufacturing sector, comprising 98.5 percent of Malaysian SMEs, serves as a major contributor to the country’s economy. In 2018, the sector contributed 22.4 percent of GDP, roughly RM 325 billion.
Sakari Kuikka, General Manager, South-East Asia and Oceania at UR said: “Malaysia deployed just 45 units of industrial robots per 10,000 employees in 2017, almost 50 percent below the global average of 85 units. In a 2017 FMM-MIER survey, only 7.4 percent of Malaysian respondents used autonomous robots – 23.3 percent of which were SMEs. We see huge potential to boost the adoption of robotic automation as the country focuses on strengthening its manufacturing sector and gearing towards becoming a developed nation,” he added.
Since its entry into the Malaysian market in 2013, UR has actively expanded its distribution base. Its cobots are distributed by Bizit Systems, EPCO Precision, Multitrade Asiapac, Servo Dynamics, T.E.M. Engineering and TMS Collaboration Automation.
“Malaysia ranks high in the region in terms of Industry 4.0 readiness according to global surveys. However, this is not the sentiment shared by SMEs who are slow to adopt these technologies. Among the challenges they face included lack of understanding of automation benefits and low awareness on government funding to assist with tech adoption. Last year, about RM5 billion was set aside by the government to help businesses embrace smart technology including automation and robotics.
We recognise these challenges and are working closely with our partners who have the expertise to assess, recommend and implement appropriate robotics solutions, particularly for companies new to automation. We also work with them to provide free cobot workshops to the public. Cobots are more cost effective to set up compared to traditional industrial robots and can automate a wide range of applications, making automation accessible for businesses of all sizes,” he added.
Cobots – robots designed to work safely alongside people – are the fastest growing segment of industrial automation, expected to rise ten-fold to 34 percent of all industrial robot sales by 2025, according to the International Federation of Robotics (IFR).
Alibaba Cloud, the data intelligence backbone of Alibaba Group, has announced a collaboration with Sena Traffic Systems (Sena), Malaysia’s leading smart traffic system controller, to build a smart traffic management system in Malaysia. Utilising cloud empowered smart technologies, the system will digitally transform the traffic management infrastructure in the city and has the potential to reduce travel time by 12 percent.
The collaboration was announced during its launch today in the presence of by YBrs. Encik Tan Chuan Ou, Deputy Secretary-General (Operations) of the Ministry of Communications and Multimedia (KKMM) accompanied by Selina Yuan, President of Alibaba Cloud Intelligence International; Kenny Tan, General Manager of Alibaba Cloud Malaysia; and Dato’ Tan Boon Hock, Managing Director of Sena Traffic Systems.Surina Shukri, Chief Executive Officer of MDEC and Dato’ Ng Wan Peng, Chief Operation Officer of MDEC were also amongst the special guests present at the event.
Alibaba Cloud will provide its City Brain solution, cloud computing resources and talent development programs through the collaboration. Sena will be responsible for the design and development of traffic light systems, and implementation of its patented algorithm for the city traffic light system.
Selina Yuan, President of Alibaba Cloud Intelligence International said, “The smart traffic solution will constantly learn and adapt to changing traffic environments, making the traffic management system a smart learning platform and no longer just an analytic tool.”
“The smart traffic solution and technology have the potential to improve traffic situation not just in Malaysia, but also in the ASEAN region. We will continue to empower all Malaysian stakeholders, in both the public and private sectors, with cloud-empowered technology to enhance efficiency, advance innovation and succeed in the digital age. Through this collaboration, Alibaba Cloud and Sena will also share the best practice with other regional partners,” Yuan added.
The demonstration at the event also showcased the capabilities that are essential for traffic management, including incident detection, congestion detection, vehicle counting, vehicle classification, traffic light optimisation and traffic simulation.
Probably something like this: Your infant brain, a hotbed of neurological activity, picked up on your parents’ speech tones and facial expressions. You started to mimic their sounds, interpret their emotions and identify relatives from strangers. And one day, about a year into life, you pointed and started saying a few meaningful words with slobbery glee.
But many children, particularly those diagnosed with autism spectrum disorder (ASD) acquire language in different ways. Worldwide, one in 160 children is diagnosed with ASD. In the United States, it is one in 59 children — and approximately 40 percent of this group is non-verbal.
Learning from superheroes and puppies
Lois Jean Brady and Matthew Guggemos, co-founders of Bay Area-based iTherapy who are speech pathologists and autism specialists, are tackling the growing prevalence of autism-related speech challenges with InnerVoice, an artificial intelligence-powered app whose customisable avatars stimulate social cues. The app animates avatars of superheroes, puppies, stuffed animals and people to help young children who have difficulties with language and expression pair words with meanings and practice conversation.
iTherapy received a Microsoft AI for Accessibility grant in 2018. The program provides grants as well as technology and expertise to individuals, groups and companies passionate about creating tools that make the world more inclusive. iTherapy is using the grant to integrate the Azure AI platform to enhance its generated speech, image recognition and facial animation.
“I think for sure that the AI component was the missing link,” says Guggemos .
How a hippo helps teach speech
AI is also proving an exciting development in speech and language improvement for Zyrobotics, an Atlanta-based educational technology company that was the first beneficiary of the AI for Accessibility program in 2018. Zyrobotics is using Azure Machine Learning to help its ReadAble Storiez educational tool interpret when a student needs assistance.
ReadAble Storiez uses an avatar of a hippo to help students with learning disabilities such as dyslexia and other challenges such as stuttering, pauses and heavy accents.
Ayanna Howard, the company’s founder and professor in robotics, was first motivated to create ReadAble Storiez when watching a teacher use Zyrobotics’ Counting Zoo app with a child. When the teacher turned to her and said, “Can you have this app do more than just read with him? I think it’s fantastic that it helps improve his math – could it also help him improve his reading?”
Howard also found teachers mentioning the challenges of dyslexia in the classroom. “I was like, ‘Oh, what happens if you have a reading disability?’ I then learned that signs of dyslexia in children aren’t picked up until much later, typically when schools start standardized testing. I realized we needed an intervention much earlier and that we could do that with Counting Zoo.”
Learning models that don’t take individualised challenges into account, or don’t address the speech patterns of kids, “tend to fail,” Howard says. ReadAble Storiez employs a custom speech model and a sophisticated “tutor” to convert speech to text and measure accuracy, fluency and the child’s reading improvement.
‘It blew my mind!’
Howard is pleased with the program’s early success. “While they were reading a book, kids were correcting themselves,” she says. “As a technologist, you say your stuff works, but I’m sitting there with the kids and I’m blown away, ‘It really does work!’ It’s thrilling to see that what works in the lab actually works in the real world, in the child’s environment. The [avatar] would provide feedback, and a child would be like, ‘I didn’t say a word right. Can I try again?’ It blew my mind. That was the affirmation. Our solution was on track and on target.”
Brady, who came up with the idea for InnerVoice after studying and writing a book on apps for people with autism, reflects on the impact it has made. She cites an example of working with a student who is non-verbal and used the app to communicate with an avatar of himself.
“He would take a picture of an apple, and an avatar would read it as ‘apple,’ and then he would write it down, ‘apple.’ Until then, I hadn’t even thought of that strategy.”
Brady and Guggemos imagine the benefits of AI-assisted communication beyond their target audience. They are working with people with dementia, head injuries and strokes. “Many communication apps just talk for you,” Brady adds. “Ours spans many aspects of communication for everybody — even English-language learners. Why wouldn’t I try that? It provides a model. There’s a coffee cup on the table, take a picture of it. How do you say that?”
Howard dreams of Zyrobotics helping to close the gap between mainstream learners and students with learning disabilities. To start, this fall Zyrobotics will introduce ReadAble Storiez to classrooms in the Los Nietos, California, school district, where learning disabilities track high. The company will also apply AI to its suite of STEM Storiez, a series of nine interactive and inclusive books that help children ages 3 to 7 engage with science, math, engineering and technology.
The AI for Accessibility program has been instrumental in getting Zyrobotics off the ground with ReadAble Storiez. “If we hadn’t gotten the grant, we’d be in phase zero,” Howard says. “We run on grants to ensure we provide access to learning technologies for all students. We need to be out there for kids that need us.”
The grant gave Brady and Guggemos the technology to take InnerVoice to the next level. “Our kids need this technology,” Brady says. “It’s not a luxury. We want to keep adding the best stuff. Microsoft really propelled us forward in that arena.”
MHub, Malaysia’s leading digital real estate marketplace, has announced a partnership with Juwai.com, China’s largest international property website, to attract Chinese buyers looking to purchase homes in Malaysia.
With Chinese investment in Malaysia’s residential real estate expected to double by 2025, the agreement will give local property sellers access to Juwai.com’s more than 3.1 million monthly users.
According to Juwai.com, buyers from mainland China purchased RM9.5 billion worth of Malaysian residential and commercial properties last year. More than four-fifths of the investment was in the residential sector. The agreement between MHub and Juwai.com will make it much easier for them to shop for houses in Malaysia.
“It is an exciting time ahead for the Malaysian and Chinese property sectors. The alliance of MHub and Juwai.com aims to expand the addressable market for property sellers in Malaysia. Our Proptech platform brings the ecosystem of developers, agents, bankers, lawyers, and buyers under one roof to enable faster, simpler and safer property sales transaction.” said Quek Wee Siong, Co-founder and Chief Executive Officer of MHub.
“Malaysia’s identity as a Belt and Road country and the revival of the ECRL plan will encourage greater Chinese real estate investment. Malaysia already ranks as the sixth most popular country for Chinese residential property buyers on our platform, up from 10th a year ago. We have also seen Chinese make 255 percent more buying inquiries in Malaysia in the first quarter of 2019, compared with the same quarter of 2018. As such, we expect Chinese acquisitions of Malaysian real estate to grow in 2019.” said Juwai.com CEO and Director Carrie Law.
Juwai.com is the No. 1 Chinese international property portal and is the exclusive international property partner of Tencent, the Chinese Internet giant that operates WeChat. Juwai.com reaches more than 3.1 million Chinese-speaking monthly users and showcases 2.8 million listings from 90 countries. Juwai.com was named the top international real estate website in China by the country’s peak e-commerce body for two years running and is a winner of the prestigious Red Herring Global Top 100 Award for excellence in startups. The company’s headquarters are in Shanghai and Hong Kong. Regional teammates are located in the US, the Philippines, Thailand, Malaysia, and Australia.
As a digital real estate platform that has transacted close to RM8 billion worth of properties since its inception, MHub focuses on intelligent solutions to simplify the property sales and purchase process between bankers, buyers, developers and agents. Using real time certified data, MHub’s platform significantly reduces the turnaround time for credit checks and loan applications from days to minutes, significantly improving the process for all parties. MHub was also the co-developer of Southeast Asia’s first online mortgage pre-qualifier tool powered by CTOS, Malaysia’s leading credit reporting agency.
Tan Sri Lim Hock San, LBS Bina Group Berhad (LBS) Group Managing Director, who is also Chairman of the Malaysia-Guangdong Chamber of Investment Promotion (MGCIP), became the first Malaysian business leader to be honoured with the coveted ‘World Chinese Business Leaders Lifetime Achievement’ Award, at an award ceremony held during the 3rd Asia Pacific CEO Forum in Macao recently.
In addition to that, Lim was invited as a panel speaker for the ‘Belt and Road’ forum
session held in conjunction with the forum. The session explored new strategies and
collaborative platforms to empower entrepreneurs as they enter the new era of the ‘Belt and Road’ initiative.
During the forum, Lim highlighted that the longstanding bilateral relations between
Malaysia and China remain resilient, underpinned by strong economic and trade co-
operation as well as people-to-people and cultural exchanges. For example, the increase of Chinese tourist arrivals to Malaysia has benefited the local travel and hospitality industry.
The strong bilateral trust between the two nations is also evident in the Prime Minister of Malaysia, Tun Dr Mahathir’ Mohamad’s, second official visit to China recently, in which he reiterated the government’s support for the ‘Road and Belt’ initiative. He also believes it will bring mutual benefits to other participating countries. The leaders and governments of Malaysia and China are also pressing ahead to realise the opportunities arising from the next phase of the ‘Belt and Road’ initiative.
Responding to participants’ questions relating to seizing opportunities from the ‘Belt and Road’ initiative, Lim, explained, “Malaysia is well-placed to tap the ‘Belt and Road’
initiative on the back of its open policies, vast infrastructure developments, as well as
familiarity in dealing with the Chinese people and business community following established trade and economic ties. Malaysia has all the right ‘ingredients’ to be the strategic partner and connector for the ‘Belt and Road’ markets. Many Malaysian entrepreneurs, especially the small and medium-sized enterprises, are eager to tap the opportunities presented by the ‘Belt and Road’ initiative.
The ‘Belt and Road’ initiative is a strategic platform for local entrepreneurs to expand their global footprint. They can work with relevant organisations, including trade associations, chambers of commerce and clan associations, in seeking the
right opportunity and to gain better insights on what is really needed by the Chinese
markets.”
Lim, a visionary business leader, assuming the role of Chairman of the Federation of
Malaysia Lim Association; the Federation of Hokkien Associations of Malaysia; and National An Xi Clan Association in Malaysia, shared his personal experiences in leading LBS to capitalise on the enormous opportunities arising from the ‘Belt and Road’ initiative.
LBS is the first Malaysian company to joint venture with SANY Group of China in setting up an Industrialised Building System (IBS) plant in Nilai. The establishment of a new IBS factory is not only aligned with LBS’ mission to build more quality affordable housing, it also heeds the Government’s call to build one million affordable homes over the next 10 years.
In the near future, LBS hopes to collaborate with potential Chinese entities to develop its existing landbank of 4,005 acres. LBS ventured into the China market in the early 1990’s. Todate, LBS has invested in the Zhuhai International Circuit (ZIC) which is strategically located in the booming Greater Bay Area. ZIC is currently undergoing a programme to transform it into an integrated urban development comprising racing circuit, a cultural park, commercial and business units and mixed-use properties.
Lim is confident that ZIC will play a vital role in shaping the growth the Greater Bay Area given its strategic geographical location and economic potentials. He concluded by citing LBS’s investment in ZIC as an example of how Malaysian businesses are establishing a wider presence in China following the introduction of the ‘Belt
and Road’ initiative.
