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Daily Archives: July 4, 2019

DGSB proposes to dispose consulting firm in Thailand for RM32 million

KUALA LUMPUR, Diversified Gateway Solutions Bhd (DGSB) is proposing to dispose of 24,500 ordinary shares in ISS Consulting (Thailand) Ltd to Germany-based Itelligence AG for RM32.03 million.

The move will allow DGSB to unlock the value of its overseas investment amid the strong Thai Baht and use its earnings to invest further in its existing operations in Malaysia, the company said in a filing with Bursa Malaysia today.

Upon completion of the proposed disposal, the company will continue to grow its digital media and infrastructure services and expand its food technology and manufacturing business.

Among other things, DGSB said the proceeds will be used for working capital purposes, repayment of bank borrowings and a special dividend payout.

The company will also be paying Wisit Wirayagorn, managing director of ISS Thailand, a Golden Handcuff incentive of RM4.5 million.

It said Wisit will also be required to sign a new employment agreement with ISS Thailand from the completion date of the deal on mutually acceptable terms.

Source: BERNAMA (News Agency)

K and L-ISC Southeast Asia to enter Vietnam, Shanghai markets

KUAIA LUMPUR, The K and L-ISC Southeast Asia, a newly established Japanese-Malaysia integrated marketing communications joint venture (JV) agency, plans to enter into Vietnam and Shanghai markets this year.

Co-chairman Tunku Datuk Kamil Ikram Tunku Abdullah said the company had already secured a five-year project in Vietnam, which will be carried out in phases starting this month.

“As for Shanghai, it will depend on the success of the project in Vietnam, only then will we proceed,” he told reporters after the K and L-ISC Southeast Asia’s launch here today.

The agency will be venturing into projects related to advertising, public relations, communications, marketing and branding services.

The launch was officiated by ISC Group co-founder and first chairman, Datuk Seri Mukhriz Tun Dr Mahathir.

The K and L-ISC Southeast Asia is a JV between ISC Innovators Sdn Bhd and K and L agency of Tokyo, Japan, which aimed to unite both agencies’ strengths to expand their business in Southeast Asia.

Meanwhile, Mukhriz said collaborations between local and foreign companies will be able to expand the market, especially for multinational companies wishing to explore the Malaysian market .

This helps local companies to get access to foreign products, and collaborations such as this will allow the company to gain more experience in the advertising field, he added.

Source: BERNAMA (News Agency)

Boustead’s subsidiary accepts one-year govt contract extension

KUALA LUMPUR, Boustead Heavy Industries Corporation Bhd’s (BHIC) subsidiary BHIC AeroServices Sdn Bhd (BHICAS) has agreed to extend the contract to provide integrated maintenance and logistic support services to the Malaysian Maritime Enforcement Agency (MMEA) for another year without any change in amount of consideration.

In a filing with Bursa Malaysia today, BHIC said under the contract awarded in 2016, the 51 per cent-owned subsidiary was to provide the services for three of MMEA’s Dauphin AS365N3 helicopters for two years and nine months, until June 30, 2019, at a contract value of RM62.58 million.

BHICAS has accepted a letter from the Home Affairs Ministry to extend the contract for one year effective from July 1.

There is no change to the consideration under the letter. Apart from the extension of the contract period, there are no significant differences between the substance of the (original) contract and the extended letter of acceptance (LOA), BHIC said

It said the LOA would contribute positively to the group’s earnings for the financial years ending Dec 31, 2019 and 2020.

BHICAS is a joint venture with Prestige Pillar Sdn Bhd (30 per cent) and Airbus Helicopters Malaysia Sdn Bhd (19 per cent).

Source: BERNAMA (News Agency)

UniMAP receives more than RM13 million in research grants

ALOR SETAR, Universiti Malaysia Perlis (UniMAP) has received research grants totalling more than RM13 million for six high-impact projects in three categories.

UniMAP vice-chancellor Professor Dr R.Badlishah Ahmad said the three categories were direct grants from the industry, ‘Collaborative Research in Engineering, Science and Technology (CREST)’ and Public-Private Research Network.

Recently, UniMAP also received two research grants worth RM206,500 through the Prototype Development Research Grant Scheme Phase 1/2019 of the Education Ministry’s Research Fund.

The grant was awarded to two researchers – senior lecturer in the School of Electrical System Engineering,Tunku Muhammad Nizar Tunku Mansur and senior lecturer in the School of Mechatronics, Dr Nasrul Amri Mohd Amin, he said in a statement issued here today.

Dr R.Badlishah said the Faculty of Engineering Technology, UniMAP also signed a Letter of Intent with two industry players, Budi Prosma Sdn Bhd and GPIBS Bhd in Kulim yesterday.

The two companies are in civil which focuses on Industrial Building System technology and this collaboration is an initiative by the university to empower Technical and Vocational Education and Training in UniMAP, he said.

He added that UniMAP was always open to collaborations with the industry on any platform.

Source: BERNAMA (News Agency)

MDEC to establish AI unit comprising local, international experts

KUALA LUMPUR, July 4 Bernama) — Malaysia Digital Economy Corporation (MDEC) is establishing an artificial intelligence (AI) unit to support the setting up of the National AI Framework, which is now more than 50 per cent ready.

Chief executive officer Surina Shukri said the unit would comprise a mix of local and international experts to ensure Malaysia is on the right track to develop an AI ecosystem in the country.

She said the international experts have been identified and are ready to help Malaysia develop the industry.

Citing an example, she said the United Kingdom has a similar AI unit with all the related agencies coming together and focusing more on AI.

“We are still in the process of getting feedback. The topic is important and we need to make sure we think of the right aspects,” she told a press conference on Beyond Paradigm Summit 2019, which is organised by Serba Dinamik Holdings Bhd.

“AI is a new topic for Malaysia. We need to understand and we would share on how to participate for either the industry, government or academia. So we would outline all that,” she said.

Surina noted that various initiatives and workshops have been done since early this year in setting up the national AI framework, which is slated to be launched at the end of the year.

She said it is important to transform the nation to become an AI hub and lay foundation frameworks and policies related to the main pillar of Industrial Revolution 4.0 (IR 4.0) by continuously engaging and encouraging the private sector and related agencies to play a vital role in this digital transformation.

She expressed hope that the summit, to be held at the Malaysia International Trade and Exhibition Centre on July 17 and 18, would be among the platforms to meet with multiple stakeholders to gather inputs on AI to best serve the businesses, consumers and citizens.

The Malaysian Investment Development Authority (MIDA) is a co-organiser of Beyond Paradigm Summit 2019, while MDEC and Microsoft are the official partners. TM one is the technology partner of the summit.

The summit will also be organised in Kuching, Sarawak, on July 20-21 at Pullman Hotel to showcase the opportunities being offered by the IR 4.0 technologies.

Source: BERNAMA (News Agency)

KNM group’s Italian unit receives euro 7.754 million award for MIDOR works in Egypt

KUALA LUMPUR, KNM Group Bhd’s Italian unit, FBM Hudson Italiana S.p.A (FBMHI), has received a Euro O 7.754 million (equivalent to about RM36.142 million based on the exchange rate of Euro 1.00:RM 4.6614) award from Technip Italy S.p.A (Technip) via a purchase order (PO) issued by Technip for the design, detailed engineering, fabrication and supply of air cooler heat exchangers.

In a filing to Bursa Malaysia today, it said the PO was part of the expansion and modernisation projects of the Middle East Oil Refinery located at Alexandria, Egypt, as managed by the Middle East Refining Ltd (MIDOR).

The design and supply duration of the PO is for a period not exceeding 14 months from its date, KNM said.

Technip is a subsidiary of TechnipFMC, a global leader in the oil and gas sectors of subsea, onshore, offshore, and surface technologies who has been awarded the engineering, procurement and construction main contract for the expansion and modernisation of MIDOR.

The PO is expected to contribute positively to KNM’s earnings for the financial year ending Dec 31, 2019 and Dec 31, 2020, KNM said.

Source: BERNAMA (News Agency)

Beyond Paradigm Summit to spur IR4.0 industry in Malaysia

KUALA LUMPUR, Serba Dinamik Holdings Bhd, organiser of the Beyond Paradigm Summit 2019, hopes that the event will spur the development of the Industrial Revolution 4.0 (IR4.0) industry in Malaysia.

Group managing director and chief executive officer Datuk Mohd Abdul Karim Abdullah said the summit — to be held in Kuala Lumpur on July 17-18 and Kuching on July 20-21, 2019 — aims to initiate ideation and conceptualisation that will drive radical and incremental innovation.

I believe this summit will drive the nation to be in the forefront of digitalisation in moving towards IR4.0, together with the industry players, specifically those from the private sector, he told a press conference on the upcoming event here, today.

Mohd Abdul Karim said Malaysia has not been an active player in frontier technologies, thus he hopes that the summit will stimulate radical and incremental ideas as part of the country’s strategy in moving up the value chain and accelerating the private sector’s digitalisation drive.

We need to play this role and we are very honoured and pleased to get the support from other regulatory bodies.

We hope this summit will be a recurring event so that all these technologies can be shown to the public, thus strengthening the awareness among Malaysians, he said.

More than 1,000 delegates are expected to attend the summit, which will feature renowned local and international speakers and experts as well as an exhibition on IR4.0 technologies.

The event in Kuala Lumpur will be officiated by Prime Minister Tun Dr Mahathir Mohamad, while the event in Kuching will be launched by Sarawak Chief Minister Datuk Patinggi Abang Johari Abang Openg.

Topics to be discussed at the summit include Artificial Intelligence (AI)- enabled workforce, advancements in robotics as well as the move from blockchain to tangle chain in the fintech industry.

The event will also feature Sophia, a social humanoid robot.

“Sophia shows how state-of-art AI can add value for businesses as it binds together various separate processes through the Internet of Things,” said Mohd Abdul Karim.

He added that the summit also serves as a platform for the company to seek for new information technology components to add value to its core business, engineering services and solutions for the oil and gas industry.

Beyond Paradigm Summit 2019 is co-organised by the Malaysian Investment Development Authority, while the Malaysia Digital Economy Corporation and Microsoft are the official partners.

Source: BERNAMA (News Agency)