News In Brief

Welcome to our ‘News In Brief’ column in which we digest all the news releases for you in no more than five paragraphs. Below are snippets of all the media releases we received from July 10 till the end of the week.

GHL Chooses Arab Financial

Bahrain, July 10: GHL Systems Berhad (GHL), a leading payment solutions provider in ASEAN, has partnered with Arab Financial Services (AFS) to enhance its merchant payment processing in Thailand.
AFS, a prominent digital payment solutions provider in the Middle East and Africa, will provide GHL with an Acquiring Platform as a Service and value-added services such as authorization, clearing, fraud prevention, and data analytics.
This collaboration aims to drive payment innovation and deliver secure and efficient payment processing solutions for merchants. AFS, known for its groundbreaking digital payment services, enters the Southeast Asian market through this partnership, marking a significant milestone for the company.
The collaboration will bring increased efficiencies, robust security measures, and improved reliability to GHL’s merchants in Thailand.

Avanade Unveils AI Readiness Services

Sydney, July 10: Avanade, a leading Microsoft solutions provider, has introduced new services to help clients prepare for artificial intelligence (AI). The services enable leaders to assess readiness and prioritize responsible actions, ensuring the benefits of AI.
Avanade’s research shows organizations’ growing expectations for AI’s revenue growth potential. However, many lack sufficient checks and guidelines. Avanade’s services include an AI Organizational Readiness Framework and AI Governance Quick Start Service.
These offerings aim to cultivate an AI-first mindset and help organizations navigate the challenges of AI implementation.

SCIB Forms Collaboration: Expansion

Kuching, July 11: Sarawak Consolidated Industries Berhad (SCIB), an industrialized building systems specialist, has signed a Memorandum of Understanding (MoU) with IRIX SDN. BHD. This collaboration strengthens SCIB’s financial stability and opens new growth opportunities. The partnership aims to successfully execute Project SEA-H2X, offering significant benefits for both companies and reinforcing SCIB’s market position.

Marti Begins NYSE Trading

Istanbul, July 12: Galata Acquisition Corp., a former U.S. publicly-listed special purpose acquisition company, has successfully completed its business combination with Marti Technologies Inc., a leading mobility app based in Turkey. The newly formed company, Marti Technologies, Inc., will begin trading its Class A Ordinary Shares and warrants on the NYSE American Stock Exchange under the ticker symbols “MRT” and “MRTW” respectively, starting July 11, 2023. The merger was approved by Galata’s shareholders at an extraordinary general meeting held on July 6, 2023.
Marti, founded in 2018, offers various transportation services to riders in Turkey through its proprietary software systems and IoT infrastructure. Its services include ride-hailing, with a focus on matching riders with drivers traveling in the same direction, as well as a large fleet of e-mopeds, e-bikes, and e-scooters. The completion of the merger and listing on the NYSE American represents a significant milestone for Marti, and the company expresses gratitude for the support of its investors, stakeholders, and Galata.
The merger was facilitated by B. Riley Securities, Inc. as the capital markets advisor and placement agent for Galata, with legal advisory services provided by Latham & Watkins LLP for Marti, and Willkie Farr & Gallagher LLP for Galata. The combined entity aims to leverage its strengthened position to capitalize on market opportunities, enhance its competitive position, and continue its growth trajectory in the highly competitive mobile transportation industry.

Vote Now: AFC Dream XI

Kuala Lumpur, July 12: With the AFC Asian Cup Qatar 2023TM six months away, the Asian Football Confederation (AFC) has launched a campaign inviting fans to vote for their all-time AFC Asian CupTM Dream XI.
Fans can visit the-AFC.com/dreamXI or AFC LIVE app to cast their votes.
The lucky fan whose squad matches the final selected Dream XI will win a trip for two to the opening match between Qatar and Lebanon.
Voting closes on 30 July, and the final squad will be announced on 12 August, five months before the competition begins.

BizCover: 200,000 Businesses Insured

Sydney, July 13: BizCover, the dominant player in online small business insurance in Australia, has achieved a significant milestone by insuring over 200,000 small businesses through its innovative insurtech platform. With its pioneering online platform and partnerships with top insurers, BizCover has outpaced competitors and gained a loyal customer base of over 17,000, thanks to its hassle-free experience and affordability. Looking ahead, BizCover aims to protect a quarter of a million Australian small businesses and continues to revolutionize its product technology to empower SMEs in managing their insurance needs.

Marti goes public in NYSE

New York, July 13: Marti Technologies Inc., the leading mobility super app in Turkey that provides ride-hailing services and a vast fleet of shared electric two-wheel vehicles, marked a significant milestone today as it rang the opening bell at the New York Stock Exchange (NYSE). This momentous occasion commemorates the successful completion of its business combination and the commencement of its journey as a publicly traded company. Trading for Marti officially commenced on July 11. While Alper Oktem, the Founder and CEO of Marti, along with other executives, were present at the NYSE in person, team members from Turkey joined the event virtually.
Alper Oktem, the visionary Founder and CEO of Marti, expressed his disbelief, stating, “Today feels surreal to me.” He further added, “It is a great honor for me to partake in this esteemed tradition of ringing the NYSE opening bell, and I hope this paves the way for many more Turkish entrepreneurs to follow. We are thrilled to embark on this next chapter of our journey.”

Sophos Enhances Microsoft Defender

Kuala Lumpur, July 13: Sophos, a global leader in cybersecurity services, has launched Sophos Managed Detection and Response (MDR) for Microsoft Defender. This fully-managed offering provides robust threat response capabilities for organizations utilizing Microsoft Security. Sophos MDR for Microsoft Defender enhances protection across various Microsoft Security solutions, including endpoint, SIEM, identity, and cloud, to defend against data breaches, ransomware, and active cyberattacks.
Unlike other MDR offerings that focus on limited Microsoft Security tools, Sophos MDR strengthens the broader Microsoft Security suite. It integrates telemetry from multiple Microsoft Security tools, such as Microsoft Defender for Endpoint, Microsoft Defender for Identity, Microsoft Defender for Cloud, and more. This consolidated data is correlated with insights from Sophos’ Adaptive Cybersecurity Ecosystem and its X-Ops threat intelligence unit, enabling the MDR operations team to identify and stop more threats effectively.
Sophos MDR addresses the people problem within organizations by providing expert security assistance. Many IT and security teams are overwhelmed and lack resources to handle the daily influx of alerts and issues. By leveraging Sophos MDR, organizations utilizing the Microsoft security stack can maximize the outcomes of their existing cybersecurity investments, delivering improved security outcomes. Sophos MDR is widely recognized and trusted, with over 17,000 customers across industries and sizes. It is highly rated and reviewed on Gartner Peer Insights and G2, offering compatibility with various third-party security deployments and integration with numerous vendors through the Sophos Marketplace.

MR D.I.Y. Transforms Kitchens

Kuala Lumpur, July 13: MR D.I.Y. Group upgraded kitchen and supported families in need.
The retailer’s volunteers refurbished a family’s kitchen, providing new appliances and storage solutions. The family was facing challenges due to the father’s inability to work.
MR D.I.Y. also donated rice to 25 deserving families, showcasing their commitment to helping underprivileged Malaysians and PPR communities.

Carbonix and Aerial Vantage: US Commercial Flights

Sydney, July 14: Australian drone manufacturer Carbonix and Drone Data Management Platform provider Aerial Vantage have successfully conducted their inaugural commercial flights in Michigan as part of a larger agricultural project with the Michigan Department of Agriculture and Rural Development (MDARD). Leveraging advanced drone capabilities and cutting-edge AI data processing, the collaboration aims to enhance farming technologies, promote sustainability, improve water and nutrient management, and advance crop yield forecasting.
Carbonix’s all-electric fixed-wing UAV, the Volanti, is being operated by ArgenTech Solutions during these missions. The gathered data is then transmitted to Aerial Vantage’s Drone Data Management Platform, Accelerate, which employs AI and machine learning to integrate drone imagery with satellite data for predicting crop yields, quality, and pricing.
The fusion of advanced drone capabilities, including beyond visual line of sight (BVLOS) operations, and sophisticated AI technology is expected to drive cost efficiencies in data acquisition and processing. This collaboration holds significant potential for large-scale agricultural scanning projects, such as the one undertaken for MDARD, by reducing management costs and increasing yields per acre.
The joint efforts of Carbonix and Aerial Vantage are at the forefront of revolutionizing aerial operations across various industries. By pioneering the future of autonomous flight and leveraging the power of drones and AI technology, they aim to drive innovation and shape a world where drones play a vital role in propelling progress in agriculture and beyond.

Rinani Acquires Stake In Malaysian Genomics

Kuala Lumpur, July 14: Malaysian Genomics Resource Centre Berhad (“Malaysian Genomics” or “the Group”) has announced that Rinani Group Berhad has acquired a 5.85 per cent stake, equivalent to 7.62 million shares, making them a substantial shareholder.
This development strengthens the Group’s financial position and aligns with their growth strategy in the biopharmaceutical sector.
Additionally, a supply agreement with DLF Engineering Pte Ltd further supports their initiatives. The Group’s current share price is 0.455 sen, with a market capitalization of RM59.20 million as of July 15.