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 Oct 14 till the end of the week.
This article updates throughout the week.

Alibaba’s AI Tool Recognised

Kuala Lumpur, Oct 14: Alibaba Group has been named to Fortune’s 10th annual Change the World List, securing 8th place for its AI-powered pancreatic cancer detection tool developed by DAMO Academy.
The tool, called PANDA, is 34.1 per cent more sensitive than radiologists in detecting abnormalities and has shown significant progress in early cancer detection across seven types of cancers.
Deployed in two hospitals in China, PANDA aims to make cancer screening more accessible and cost-effective.
Alibaba is the only Chinese company in the top 10 of the list.

Hospital Picaso, Taylor’s Partner

Kuala Lumpur, Oct 14: Hospital Picaso and Taylor’s University have signed a Memorandum of Understanding (MOU) to advance medical research and patient care through a strategic partnership.
The collaboration focuses on pioneering new treatments in medical physics and cancer care, particularly a minimally invasive radiotheranostics approach.
This partnership, initiated by Dr. Basri Johan Jeet Abdullah of Hospital Picaso and Professor Dr. Yeong Chai Hong of Taylor’s University, will also offer joint research projects, internships for students, and community service initiatives, aiming to revolutionize healthcare innovation and improve patient outcomes.

Moomoo Launches Global Trading Challenge

Sydney, Oct 14: Moomoo has announced its first global paper-trading challenge starting on October 14, inviting participants from Australia, the US, Canada, Singapore, Malaysia, Japan, and Hong Kong to trade US stocks and ETFs risk-free via the moomoo app.
The five-week challenge aims to boost investors’ skills through simulated trading, with access to real-time quotes, professional tools, and Nasdaq TotalView®.
Participants can win cash prizes, including a US$10,000 reward for the top global trader.
The challenge also offers US$100,000 in total prizes and educational resources to enhance trading strategies.

Cropmate Berhad’s IPO Deal

Kuala Lumpur, Oct 14: Cropmate Berhad has signed an underwriting agreement with Hong Leong Investment Bank for its upcoming IPO on the ACE Market of Bursa Malaysia.
The IPO includes a public issue of 210 million new shares, representing 28.4 per cent of the enlarged issued share capital.
The offering consists of an institutional allocation of 208.34 million shares and a retail offering of 51.66 million shares, with HLIB underwriting the retail portion.
Funds from the IPO will be used for working capital, facility upgrades, and R&D to support Cropmate’s growth in the fertiliser industry.

Adobe Unveils Major Creative Updates

Sydney, Oct 15: Adobe introduced over 100 new features at Adobe MAX 2024, enhancing tools in Creative Cloud including Photoshop, Illustrator, and Premiere Pro.
The company also expanded its Firefly generative AI models to video and announced the general availability of GenStudio for Performance Marketing, a content supply chain solution.
Updates include new AI-driven tools for video, vector, and design, plus advancements in collaboration via Frame.io and Adobe Express.
Adobe committed $1M to support hurricane recovery efforts in Florida, alongside a new global initiative to help 30 million students and teachers develop AI and digital marketing skills.

Summerland, Regional Bank Merge

Sydney, Oct 16: Summerland Bank and Regional Australia Bank have announced their intent to merge, entering due diligence to assess the merger’s feasibility and benefits.
Both customer-owned banks aim to strengthen their market presence across regional Australia, with a combined focus on community and member-owned banking.
If the merger proceeds, the unified entity will manage $4.8 billion in assets and serve 130,000 members. The merger would expand their branch networks, with no closures planned, and enhance their ability to invest in infrastructure, digital services, and customer offerings.
The final merger is expected by mid-2026.

FedEx Completes Panda Transfers

Kuala Lumpur, Oct 16: FedEx transported six giant pandas between the U.S. and China, marking the first roundtrip panda deliveries.
Four pandas from Zoo Atlanta, including Lun Lun, Yang Yang, and their twins Ya Lun and Xi Lun, were flown to the Chengdu Research Base on October 12.
On the return trip, two-year-old Bao Li and Qing Bao arrived at the Smithsonian’s National Zoo in Washington, D.C., where they will debut publicly in January 2025.
FedEx donated the transportation costs as part of its conservation efforts, continuing its long-standing role in panda transport, with 21 pandas moved globally to date.

Hektar REIT Wins ESG Award

Kuala Lumpur, Oct 16: Hektar REIT secured the Gold Award for “Outstanding ESG Performance and Dividend Return” at The Edge Malaysia ESG Awards 2024.
Recognised as a top ESG performer among Malaysian public-listed companies, the award reflects Hektar’s commitment to sustainability while delivering strong dividend returns.
The event, officiated by Deputy Prime Minister Datuk Seri Fadillah Yusof, highlighted the importance of ESG in Malaysia’s corporate landscape. Hektar REIT continues to balance growth and sustainability efforts, including a 4.7 per cent increase in portfolio occupancy while reducing emissions. The company adopts the UNGC Forward Faster Initiative, reinforcing its leadership in ESG practices.

Taobao’s 11.11 Launches

Kuala Lumpur, Oct 17: Taobao Malaysia’s 11.11 Sale returns with a new twist, offering both Chinese and beta English interfaces for the first time.
Starting on 21 October, shoppers can enjoy early-bird discounts and free shipping vouchers worth RM21 daily.
Promotions include discounts of RM29 for every RM170 spent, daily promo codes worth up to RM66, and exclusive benefits for new users.
CIMB, RHB, and PBB credit card users will receive instant discounts of up to RM80 during selected periods.
The sale, which runs in two phases until 11 November, promises faster delivery and enhanced experiences through Taobao’s AI-powered translations.
The Taobao app is available for free on the Apple App Store and Google Play Store.

Bintai Kinden Partners Henan

Petaling Jaya, Oct 17: Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998) announced that its subsidiary, Kejuruteraan Bintai Kindenko Sdn. Bhd., has signed an MOU with Henan Province Installation Group (Malaysia) Sdn. Bhd.
The collaboration aims to enhance both parties’ tendering capabilities for high-rise, industrial, and data centre projects in Malaysia.
This partnership aligns Henan’s extensive experience in China with Bintai Kinden’s expertise in Malaysia, focusing on complex construction and engineering projects, including sub-stations and power distribution networks.
The MOU is part of Bintai Kinden’s strategy to improve performance and exit its PN17 status following financial challenges in 2023.
BKCB’s share price closed at RM0.095 on 17 October, valuing the company at RM115.9 million.