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 Aug 21 till the end of the week.

Fintech Boosts Financial Inclusion

Singapore, Aug 21: Singapore’s Silverlake Axis, a major player in fintech and digital banking solutions, has partnered with Safeguards Corporation to introduce Malaysia’s first Independent ATM Deployer (IAD), a pioneering initiative in cloud-based solutions. With Bank Negara Malaysia’s focus on enhancing financial inclusion, this collaboration aims to bring essential financial services to underserved regions across the country.Powered by Silverlake’s ATM/CRM Acquirer Switch, the IAD Partnership focuses on deploying Cash Recycler Machines under the SCS brand to bridge the gap between underserved communities and financial services. This strategic alliance also involves the deployment of Checker ATM Security© by gMV, enhancing the security of the initiative.Andrew Tan, Group Managing Director of Silverlake Axis, emphasizes the importance of financial inclusion, with the project marking the first-ever public cloud implementation of the Silverlake Integrated Banking Solution (SIBS). The partnership with Safeguards Corporation aligns with Silverlake’s commitment to enabling a successful national cause.With a remarkable presence in the APAC region and a workforce of over 16,000 across various subsidiaries, this synergistic collaboration holds immense potential to deliver substantial benefits to the Malaysian market.

SimilarAsk: AI Insights Unleashed

Kuala Lumpur, Aug 21: Similarweb, a prominent digital data and analytics company, has announced the beta release of SimilarAsk. This AI assistant is designed to answer real user questions within their platform. Originally conceived during a hackathon, SimilarAsk combines Similarweb’s unique Digital Data with AI models for valuable insights.SimilarAsk’s chatbot-style interface offers quick answers, saving users from navigating multiple screens or seeking interpretation help. It’s particularly useful for newcomers and unique queries, enhancing the overall user experience.Powered by AI, SimilarAsk accelerates time-to-insight, expands platform features, and contextualizes query results. It transforms user prompts into database queries and functions, using various AI models.The launch of SimilarAsk occurs in two phases: 1.0 Beta provides rapid access to existing insights, while 2.0 introduces dynamic AI tools for novel queries. Users can work with their sales or account representatives to integrate SimilarAsk into their accounts.

Aneka Jaringan’s Construction Triumphs

Kuala Lumpur, Aug 21: Aneka Jaringan Holdings Berhad (“Aneka Jaringan”) has clinched substantial construction contracts, showcasing its prowess in the industry. Through its subsidiary, Aneka Jaringan Sdn. Bhd., the Group secured a RM35 million contract from Sena Letrik (M) Sdn Bhd (“Sena Letrik”), reflecting its commitment to delivering top-tier solutions.The RM35 million contract with Sena Letrik is set to commence on September 1, 2023, and extends for 17 months. This accomplishment highlights Aneka Jaringan’s dedication to exceptional engineering and construction services.Furthermore, Perunding Manh Sdn Bhd (“Perunding Manh”) has awarded an additional RM5.95 million contract on behalf of Scientex Park (M) Sdn Bhd. The contract is divided into two phases: Phase 1, starting on August 21, 2023, spans 7 months, while Phase 2 for Retail and Podium begins on October 15, 2023, covering 6.5 months.These contracts spotlight Aneka Jaringan’s ability to attract diverse opportunities while maintaining a focus on quality and innovation. Pang Tse Fui, the Managing Director of Aneka Jaringan, emphasized the team’s readiness and commitment to exceeding stakeholder expectations.These achievements are poised to positively impact the Group’s earnings and net assets for the financial years ending on August 31, 2023, and August 31, 2024. Aneka Jaringan’s ongoing commitment to profitability and excellence in construction practices remains unwavering, solidifying its presence in the construction markets of Malaysia and Indonesia.

MR D.I.Y. Group Recognized for Sustainability Leadership

Kuala Lumpur, Aug 21: Malaysia’s MR D.I.Y. Group [M] Berhad [MR D.I.Y] has been awarded Company of the Year [Home Improvement Retailer] at the Sustainability & CSR Malaysia Awards 2023. This distinction honors MR D.I.Y.’s impactful community, environment, and workplace initiatives. The awards acknowledge companies driving positive change in Malaysia’s socio-economic and environmental landscape. Presented by Datuk Sri Nancy Shukri, the award highlights MR D.I.Y.’s commitment to responsible practices and inclusivity.Selected by eminent judges, criteria included alignment with UN Sustainable Development Goals and transparent, impactful efforts. The recognition underscores MR D.I.Y.’s dedication to fostering a better future. The award ceremony, held at Kuala Lumpur’s Mandarin Oriental Hotel, marked MR D.I.Y.’s sole win in the Company of the Year [Home Improvement Retailer] category.This award complements MR D.I.Y. Group’s sustainability journey, having been previously recognized for its ESG efforts. For more on their sustainability initiatives, visit their website and social media channels.

Malaysians Unite in Kindness

Kuala Lumpur, Aug 22: MR D.I.Y., a prominent retail brand, has recently unveiled a poignant social experiment video on their Facebook platform, captivating the emotions of Malaysians across the nation. The video showcases spontaneous and heartwarming acts of compassion as individuals from diverse backgrounds in Malaysia unite to assist an elderly gentleman who is grappling with heavy shopping bags right outside MR D.I.Y. PLUS in Mid Valley.In a concise two-minute clip that made its debut on August 18, 2023, the video beautifully exemplifies the inherent kindness ingrained in Malaysian culture. Across various ages, people step forward in unity to lend a helping hand to the elderly man, painting a vivid picture of care and togetherness that deeply resonates.The video has swiftly garnered a remarkable 232K views and has evoked 450 touching comments, arriving at a poignant juncture as Malaysia’s National Day approaches. For those interested in witnessing this heartwarming spectacle, it’s accessible on MR D.I.Y.’s official Facebook page.We extend an open invitation to all Malaysians, urging them to partake in this touching experience that embodies the quintessence of unity, kindness, and compassion that we all hold in high regard. Let’s unite in commemorating the magnificence of our nation’s spirit. We cordially invite esteemed media outlets to consider sharing this heartening tale, one that vividly underscores the inherent unity and benevolence that thrive within our society.

Grill’d Boosts Payment Experience

Sydney, Aug 23: Adyen (AMS: ADYEN), the global payment platform, has expanded its partnership with Australia’s healthy burger brand, Grill’d. The collaboration enhances customer experience by refining payment strategies and creating a seamless omnichannel journey. Adyen now processes all online transactions for Grill’d, covering table ordering, in-app purchases, website transactions, and donations through Adyen Giving.The partnership began during the pandemic’s peak, prompting Grill’d to pivot and embrace digital transformation. Adyen’s platform offers a unified solution with enhanced customization capabilities, accommodating various payment methods. Additionally, Adyen’s platform provides Grill’d with valuable customer data and insights, guiding informed decisions and improving overall business strategies.Beyond payments, Adyen strengthens Grill’d’s security and anti-fraud measures through its RevenueProtect technology. This ensures secure transactions, safeguarding both customers and the business.The partnership also extends to community initiatives. Adyen Giving enables Grill’d to extend its ‘Local Matters’ community program to online channels.With aspirations for global expansion, Grill’d leverages Adyen’s international network, local market payment methods, and unified platform.Hayley Fisher, Adyen Country Manager for Australia and New Zealand, expresses excitement about the partnership, supporting Grill’d’s growth and innovation journey.

Synergy House Achieves Growth

Kuala Lumpur, Aug 24: Synergy House Berhad has reported strong financials for Q2 2023, with higher revenue from both B2B and B2C segments in markets like the United Arab Emirates, United Kingdom, and the USA. Q2 FY2023 saw a revenue of 58.6 million and a profit before tax of 8.5 million.
The B2B segment contributed 54.78 per cent of total revenue, while B2C brought in 45.22 per cent. Notably, B2C revenue for H1 FY2023 surpassed the previous full fiscal year’s earnings.
Executive Directors Tan Eu Tah and Teh Yee Luen expressed contentment with the results, emphasizing B2C potential, particularly in the USA.
The Group’s strategic alignment, design efforts, and competitive pricing were highlighted as drivers for success.With a strategic focus on the USA, UK, and Canada, Synergy House is poised to tap into the growing global e-commerce furniture market.
The strong Q2 performance underscores the effectiveness of the B2C focus and growth plans, positioning the Group for continued success in global furniture e-commerce.

BCM Celebrates 30-Year Milestone

Kedah, Aug 24: BCM Electronics Corporation Sdn. Bhd. (“BCM”), a subsidiary of Aurelius Technologies Berhad, celebrated its 30th anniversary at KHTP Sports Complex, commemorating three decades of growth. The theme “30 X 30: Honouring Our Past & Empowering Our Future with Sustainable Growth” encapsulated the event’s spirit, with focus on BCM’s strategic expansion into 5G communication modules and automotive components manufacturing.
From its start in 1993 as a small workshop in Prai with basic assembly work, BCM has evolved into a significant EMS provider, operating from a 260,357 sq. ft plant at Kulim High-Tech Park (“KHTP”).
The anniversary celebrated BCM’s long collaboration with Motorola Solutions Inc. (“MSI”), its first customer, and unveiled future plans.
BCM announced its entry into manufacturing 5G communication modules for IoT and automotive components, marking a new sector focus. Plans for a new plant in 2024 at Kulim Techno City were revealed, aligning with their automotive components strategy.
BCM also committed to sustainability, announcing a roadmap towards Net Zero by 2050, including EV charging stations and rooftop solar installation by October 2023.
Loh Hock Chiang, Executive Director & CEO of BCM, expressed the vision for the future, emphasizing core values and innovation. Chad Werkema of Motorola Solutions Inc. acknowledged the 30-year partnership with BCM, affirming their strategic importance.

PropertyGuru Q2 2023 Highlights

Kuala Lumpur, Aug 24: PropertyGuru Group Limited (NYSE: PGRU) announced a 12 per cent year-over-year increase in Q2 2023 revenue, reaching S$37 million. However, the quarter saw a net loss of S$6 million. The positive note was an Adjusted EBITDA of S$5 million, a significant improvement from the same period in 2022. Despite challenges, the CEO highlighted the company’s double-digit revenue and EBITDA growth, driven by investments in generative AI and new product launches. The CFO mentioned encouraging signals in Vietnam’s market due to government initiatives. The financial highlights of the quarter included growing revenues in Singapore and Malaysia marketplaces, while Vietnam marketplaces revenue declined due to credit restrictions. Fintech & Data services revenue increased by 47 per cent. The quarter ended with S$302 million in cash and cash equivalents. The company’s focus remains on achieving sustained, profitable growth in the face of Southeast Asia’s economic conditions.

ECRL Tunnel Achieves Breakthrough

Sydney, Aug 25: The 1.32-km ‘Kampung Gedung Siam 3 Tunnel’ of the East Coast Rail Link (ECRL) Project has successfully achieved a tunnelling breakthrough as scheduled, becoming the 24th completed tunnel among the ECRL tunnels. The breakthrough marked the culmination of nearly 27,980 man-hours and the drill-and-blast tunnelling method, which went through weathered sandstone. The single bore tunnel has dimensions adequate for two standard gauge railway tracks. Construction began in January 2020 and the tunnel was scheduled to break through by August 2023.Out of the 25 ECRL tunnels with breakthroughs, 21 are in Sections A and B of the project’s alignment, while four are in Section C. The ECRL Project’s first tunnel breakthrough occurred at the Paka Tunnel in Terengganu, six months ahead of schedule in April 2021. The ECRL features a total of 40 tunnels along its rail alignment from Kota Bharu to Port Klang.Tan Sri Mohd Zuki Ali, Chairman of Malaysia Rail Link Sdn Bhd (MRL), praised the achievement and teamwork of the ECRL workforce, enabling 167,830 cubic meters of soil and rock to be excavated safely and with minimal ground movement. He highlighted that this accomplishment will lead to the full completion of the tunnel’s civil works by April 2024.Kong Qi, Managing Director of China Communications Construction (ECRL) Sdn Bhd (CCC-ECRL), noted the significance of the tunnel breakthrough in constructing the 40-tunnel ECRL, praising the team’s dedication and expertise. The ECRL, with a total length of 665 km, will traverse Kelantan, Terengganu, Pahang, and link the West Coast’s Klang Valley in Peninsular Malaysia.