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 Jan 13 till the end of the week.
This article updates throughout the week.

Adyen Unveils AI Uplift

Sydney, Jan 13: Adyen has launched Adyen Uplift, an AI-powered payment optimization suite aimed at improving payment conversion, fraud management, and reducing costs.
Piloted by 60 enterprise businesses, including Patagonia, On, and NordSecurity, the suite has shown up to a six per cent increase in payment conversion rates and a five per cent reduction in payment processing costs.
The AI-first approach leverages over $1 trillion in global transaction data to automate payment optimization and fraud control, helping businesses balance conversion, risk, and cost more effectively. Companies such as On and Nord Security reported significant boosts in conversion rates and operational efficiency. Adyen Uplift reduces manual fraud rules by up to 86 per cent, freeing businesses from operational burdens.

Alibaba AI Drives Innovation

Kuala Lumpur, Jan 13: As global challenges like climate change, healthcare demands, and food security intensify, Alibaba Cloud is leveraging AI to address pressing societal issues. With AI-powered innovations, Alibaba aims to create lasting positive impacts across various sectors.
Recent initiatives include Baguan, an AI-driven weather forecasting model that delivers high-resolution predictions, helping industries prepare for extreme weather and optimize renewable energy production. In healthcare, the AI tool PANDA enhances cancer diagnosis, offering faster and more cost-effective screening with expanded applications to multiple cancer types.
In agriculture, Alibaba’s AI research with Zhejiang University and CAAS accelerates crop improvement by identifying over 287 million single methylation polymorphisms and uncovering 43 genes linked to fiber development. In partnership with Sun Yat-sen University and The University of Sydney, Alibaba’s LucaProt AI algorithm led to the discovery of 160,000 RNA virus species, aiding in the fight against infectious diseases.
Additionally, Alibaba introduced an AI tool that creates personalized picture books for children with autism, fostering creativity and learning for special needs communities. Since its launch, the tool has been used nearly 200,000 times, benefiting thousands of families and educators.

Acronis Appoints New CISO

Singapore, Jan 14: Acronis has appointed Gerald Beuchelt as its new Chief Information Security Officer (CISO). Beuchelt will lead the company’s global information security strategy, overseeing IT infrastructure, security, and compliance.
He will also contribute to Acronis’ cybersecurity initiatives through research and reports from the Acronis Threat Research Unit (TRU).
Beuchelt, formerly CISO at Sprinklr Inc., brings over a decade of cybersecurity leadership experience, including roles at LogMeIn and Demandware, Inc. (now Salesforce).
CEO Ezequiel Steiner emphasised Beuchelt’s strategic expertise in enhancing Acronis’ mission to protect data worldwide.

Australian Open Collectable Coins

Sydney, Jan 15: Australia Post has launched Men’s and Women’s Australian Open 2025 $2 coloured coins, celebrating 120 years of the tournament.
The collectable coins, created in partnership with the Royal Australian Mint, are available online and at participating Post Offices for $12 each. Customers have a 1 in 10 chance of finding a unique coloured coin in coin-set folders.
Additionally, shoppers may find Australian Open coins in their change when making cash purchases in-store until February 16.
Australia Post Executive General Manager Retail, Josh Bannister, expressed pride in commemorating the tournament’s rich history through this special release.
The range includes a MyStamp pack, stamp and coin covers, medallion cover, and general merchandise. Fans can purchase these items at participating Post Offices or online at auspost.com.au/ausopen.

Colform Targets RM41m

Kuala Lumpur, Jan 15: Colform Group Berhad (“Colform”), a steel and building material specialist in East Malaysia, launched its IPO prospectus for listing on the ACE Market of Bursa Malaysia Securities Berhad.
The IPO aims to raise RM41.19 million through the issuance of 114.42 million shares at RM0.36 per share, with proceeds allocated for a new colour coil coating line, storage facility, business expansion into Peninsular Malaysia, working capital, and listing expenses. Applications open today and close on 23 January 2025, with listing expected on 10 February 2025. Colform’s market capitalisation upon listing will be RM216.00 million.
Mercury Securities Sdn Bhd serves as the Principal Adviser, Sponsor, Sole Underwriter, and Placement Agent.

Bintai Kinden Secures Bursa Nod

Petaling Jaya, Jan 16: Bintai Kinden Corporation Berhad (BKCB), a mechanical and electrical engineering services specialist, has received Bursa Malaysia Securities’ approval for its Proposed Regularisation Plan.
The plan includes issuing 244 million new shares through private placement, up to 146.4 million shares via options under a granting of options scheme, and an Employees’ Share Option Scheme (ESOS) amounting to 15 per cent of issued shares.
Datuk Tay Chor Han, Managing Director cum CEO of BKCB, said the approval marks a pivotal moment in the company’s financial recovery and efforts to uplift its PN17 status.
BKCB is working with adviser Inter-Pacific Securities Sdn. Bhd. to implement the plan and ensure compliance with Bursa Securities’ conditions.

Alibaba Cloud launches ACS

Kuala Lumpur, Jan 16: Alibaba Cloud has introduced the Alibaba Cloud Container Compute Service (ACS) for international customers, enabling cost-efficient workload deployment using container technology.
ACS, leveraging Kubernetes, offers a serverless container service that eliminates the need for managing nodes and clusters, reducing deployment costs and complexity. Customers can pay-as-you-go and scale on demand, optimizing computing costs by up to 55 per cent.
The service integrates Alibaba Cloud’s Shenlong architecture, ensuring compatibility with Kubernetes for seamless migration and resource efficiency. ACS supports multiple cloud environments, including public, private, and hybrid clouds, making it versatile across industries.
Moka, a leading HR SaaS company, has benefited from ACS’s maintenance-free clusters and pay-per-use flexibility during peak seasons. Alibaba Cloud was recently recognized as a Leader in the 2024 Gartner Magic Quadrant for Container Management.

Betamek Earns Top Rating

Kuala Lumpur, Jan 17: Betamek Berhad’s subsidiary, Betamek Electronics (M) Sdn. Bhd., has achieved the highest Level 5 rating in the Supplier Competitiveness Level (SCL) assessment by the Malaysia Automotive Robotics and IoT Institute (MARii).
The assessment, conducted under the Ministry of Investment, Trade and Industry (MITI), evaluates companies on critical areas like management, technology investment, safety, and quality. Betamek Electronics’ achievement highlights its alignment with global best practices and strong performance in design, product development, and manufacturing for domestic and export markets.
This milestone underscores Betamek Electronics’ role in advancing Malaysia’s automotive industry, reinforcing its competitiveness on a global scale.