Collating tech business news for the past 4 weeks, here's TechNave Business Bytes Week 4 of June 2024 and Week 3 of July 2024. In this TechNave Business Bytes, recent developments in the tech and corporate sectors highlight significant achievements and proactive measures across various industries. TM, a Malaysian telecommunications company, reassured its customers of uninterrupted services despite a global tech outage caused by CrowdStrike's faulty software update. In sustainability news, Canon Malaysia received the Company of the Year award at the Sustainability and CSR Malaysia Awards for its ongoing environmental and social responsibility initiatives, including the "One Canon One Tree" campaign and ocean photography workshops.
Samsung unveiled new products and emphasized collaborative and responsible AI innovation during the Galaxy Unpacked 2024 event. Meanwhile, AirAsia's RedGames Jam 2024 will host a 48-hour game development marathon, offering participants the chance to win a trip to the Tokyo Game Show. Kaspersky highlighted the critical need for enhanced cybersecurity measures in Malaysia, facing a shortage of professionals and increasing threats.
Other notable events include the Karnival TEKUN Madani, which celebrated the success of local entrepreneurs through TikTok Shop and TEKUN Nasional's collaboration. Webull Malaysia appointed Farah Jaafar to its Board of Directors, enhancing its investment services. Coursera reported an 806% rise in Generative AI course enrollments among Malaysian learners, reflecting a growing interest in AI skills. Additionally, TikTok Malaysia launched a digital literacy program with the University of Nottingham Malaysia, and Maxis eKelas awarded grants to students excelling in digital learning. These efforts collectively showcase a commitment to innovation, sustainability, digital literacy, and security.
TM confirmed no service disruption due to CrowdStrike
A global tech outage recently occurred due to a faulty software update by CrowdStrike, affecting numerous organizations worldwide. TM, a Malaysian telecommunications company, reassures its customers and stakeholders that their business operations and services remain undisrupted. TM promptly identified and managed the issue, committing to ongoing monitoring and updates as needed.
Canon at the 2024 Sustainability and CSR Malaysia Awards
Canon Malaysia won the Company of the Year award at the Sustainability and CSR Malaysia Awards for its environmental and social responsibility initiatives. The company has been recognized for seven consecutive years for its efforts in these areas. Canon's initiatives include a nationwide tree-planting campaign, "One Canon One Tree," which aims to promote a greener Malaysia and empower local communities.
The company also hosted a unique workshop focused on ocean photography and conservation to raise awareness about the importance of ocean protection. Canon's commitment to sustainability is driven by its Kyosei philosophy, which emphasizes living and working together for the common good. The company's President and CEO, Masato Yoshiie, expressed gratitude for the recognition and highlighted Canon's ongoing efforts to make a positive impact. Check out their site for more details.
Samsung: Expert Panel Highlights Collaborative, Responsible AI Innovation
Samsung recently unveiled new products, including the Galaxy Z Fold6, Galaxy Z Flip6, Galaxy Watch Ultra, Galaxy Watch7, Galaxy Ring, and Galaxy Buds3 series, at Galaxy Unpacked 2024. Samsung held a panel discussion, Salon d’AI, at 3 Mazarium in Paris to discuss the future of mobile AI with industry leaders and partners. Samsung announced the results of a global academic study conducted with the Goldsmiths’ Institute of Management Studies at the University of London, which found that frequent users of AI report a higher quality of life. Samsung highlighted the role of mobile AI in stimulating creativity and improving productivity, with a focus on hybrid AI that combines on-device AI with cloud-based AI.
The company emphasized the importance of open collaboration with partners like Google and Qualcomm Technologies to provide state-of-the-art AI-based user experiences. Samsung also addressed the need for responsible innovation and inclusive AI development, prioritizing privacy, fairness, transparency, and accountability.
RedGames Jam 2024 returns
RedGames Jam, hosted by AirAsia's gaming hub RedGames, will be held from 2 to 4 August 2024 at APU's Bukit Jalil Campus in Malaysia. It's a 48-hour game development marathon where participants can create a game based on a secret theme centered around AirAsia Buds.
The winning team will receive a trip to Tokyo, Japan, and an invite to Tokyo Game Show 2024. Participants can register as solo developers or teams of up to five members. This year, RedGames Jam is collaborating with SONY to provide more resources and opportunities for game developers.
Kaspersky: Malaysian companies should continue to prioritize cybersecurity
Malaysia faces a shortage of cybersecurity professionals, with only 15,000 currently active in the industry. Kaspersky business solutions blocked 2.5 million local threats and 26.8 million online threats targeting businesses in Malaysia in 2023. The government and Kaspersky emphasize the importance of investing in cybersecurity to protect against escalating threats.
Kaspersky recommends businesses upgrade cybersecurity solutions, secure infrastructure, train staff, adopt secure-by-design principles, and meet regulations to combat cyberattacks. The cybersecurity company suggests outsourcing cybersecurity due to the shortage of qualified staff.
200,000 Malaysians Celebrate TikTok Shop Local Entrepreneurs during Karnival TEKUN Madani Online and Offline Campaigns
Karnival TEKUN Madani, an event from the strategic partnership between TikTok Shop and TEKUN Nasional, upskilled local entrepreneurs and boosted digital transformation. Top entrepreneurs from TikTok Shop were honored at the event, which saw SMEs achieving over 7,000 times sales growth and exceptional content achievement. TikTok Shop Malaysia and TEKUN Nasional collaborated for Karnival TEKUN Madani, attracting over 40,000 businesses and 160,000 online viewers.
The event saw participation from 150 sellers, resulting in 1.19 million customer traffic and a 243% increase in sales from LIVE selling. The top 10 winning entrepreneurs received a "Live Streaming Package" worth over RM7,000, while 14 entrepreneurs showcased their ideas in a Business Pitching Competition. The TikTok Shop Awards ceremony celebrated exceptional entrepreneurs, with awards presented to @cikschagold.hq, @lipstickscarf, @cendawanhub, and @shiffaenterprise. Shiffa Enterprise won a three-month mentoring program from TikTok Shop Partner Anna Aziz.
Veteran corporate executive Farah Jaafar joins Webull Malaysia’s Board of Directors
Webull Malaysia has appointed Farah Jaafar as a new Independent Non-Executive Director. Farah has extensive experience in capital markets and financial services. Webull Malaysia is committed to providing secure, reliable, and intelligent products and services for investors.
Farah's expertise will be valuable in making investing an enjoyable and trusted skill for Malaysians. Webull Malaysia offers access to global equity and derivative markets, providing investment portfolio diversity for Malaysian investors. Launched in May, Webull Malaysia is a digital investment platform that allows investors to trade Bursa-listed securities, derivatives contracts, US-listed stocks, and ETFs.
Coursera 2024 Global Skills Report: Malaysian learners record 806% rise in GenAI enrollments
Coursera's Global Skills Report reveals an 806% year-over-year increase in enrollments in Generative AI (GenAI) courses among Malaysian learners. Malaysia ranks 12th in skill proficiency in the APAC region and fourth in Southeast Asia. Key GenAI courses gaining popularity include Google Cloud's Introduction to Generative AI, Google AI Essentials, and Generative AI for Everyone by DeepLearning.AI.
GenAI adoption is generational with millennials leading the reskilling race at 48%, followed by GenXers at 32% and GenZ at 16%. The report also highlights a 97% YoY increase in enrollments for Professional Certificates among Malaysian learners, underscoring the trend that individuals are increasingly turning to online micro-credentials to secure new jobs and advance their careers. Coursera currently supports the skills development of 782k learners in Malaysia, who have enrolled in over 1.7 million Coursera courses as of March 2024. Check out their site for more details.
TikTok Malaysia Launches Deputies of Digital Literacy Programme with The University of Nottingham Malaysia
TikTok Malaysia recently launched the Surf's Up: Deputies of Digital Literacy program to enhance digital literacy and internet safety awareness among university students. Through interactive methods, students learned about online safety, data protection, and responsible online behavior.
The program featured panel discussions and workshops with experts, focusing on the importance of digital literacy in combating misinformation and promoting a safer internet. Reina Lum, a former lawyer and TikTok creator, emphasized responsible content creation and consumption, while Sharaad Kuttan from BFM89.9 stressed the need for journalistic integrity in the digital media age. The program aims to expand its reach to more Malaysian institutions and empower students to become advocates for a safer online community.
Maxis Anugerah Gemilang eKelas student grant programme recognises academic growth through digital learning
Maxis eKelas, a free digital learning initiative, has over 120,000 registered users and aims to improve academic performance in rural communities. Maxis recently awarded Anugerah Gemilang eKelas grants to students who showed academic growth and participation in eKelas activities. The grants, worth RM750 for primary school students and RM1,500 for secondary school students, were deposited into their National Education Savings Scheme accounts.
Maxis also donated 330 refurbished laptops to schools nationwide to support digital learning, particularly in rural areas. Maxis eKelas offers quality education content aligned with the Malaysian school syllabus and is accessible through the Ministry of Education's digital learning portal DELIMa. Student testimonials highlighted the program's positive impact on their motivation and educational journey.
Grab Malaysia Unveils GrabScholar with Yayasan Tunku Abdul Rahman (YTAR) and GoBarakah
Grab Malaysia, in partnership with YTAR and GoBarakah, launches GrabScholar to democratize education by offering scholarships and bursaries to over 300 deserving Malaysian students. GrabScholar provides university scholarships for students pursuing degrees in sustainability, business, and STEM fields at public universities across Malaysia, covering full tuition fees, allowances, internship opportunities, and a 2-year leadership development program.
Additionally, GrabScholar extends one-time financial assistance to 300 primary and secondary school students to alleviate school-related financial burdens on their families. Through GrabScholar, Grab Malaysia aims to empower all Malaysians, regardless of their background, in their educational journey and enhance their socio-economic status.
PRO-NET Enhances Proton e.MAS Reach with More Dealership Opportunities
PROTON announced the appointment of 18 Proton e.MAS dealerships, expanding its network to make electric vehicles more accessible in Malaysia. These outlets are strategically located across Peninsular Malaysia and East Malaysia, providing comprehensive support to customers.
Operating under a network model from 1S to 3S centres, they offer holistic services, including experiencing exceptional products, digital platforms, aftersales services, and convenient charging options. PRO-NET aims to reach 30 outlets by 2025 and lead the national car industry in promoting EVs for a sustainable future. The dealerships serve as hubs of innovation and learning, educating and inspiring individuals about electric vehicles.
U Mobile sign MOU with EDOTCO for 2nd 5G network rollout
U Mobile and EDOTCO, recently announced a strategic partnership to accelerate the rollout of the second 5G network in the country. EDOTCO will provide U Mobile with access to its tower infrastructure, resources, and expedited site delivery to facilitate the 5G network rollout. The partnership aims to establish a cost-efficient and competitive offering for timely rollout, including built-to-suit sites, co-locations, site upgrades, and indoor coverage.
U Mobile and EDOTCO will jointly develop a streamlined process to identify suitable tower locations and structures using AI and data-driven analytics, enabling faster site acquisition and permissions. This collaboration strengthens U Mobile's position to deploy the second 5G network and ensure affordable and quality 5G services for Malaysians, driving economic benefits across various sectors.
LG releases preliminary earnings for 2nd quarter 2024
LG Electronics reported strong second-quarter results with revenue of 21.7 trillion KRW and operating profit of 1.19 trillion KRW, exceeding market expectations and setting new records. The company's balanced qualitative growth across core businesses and future growth sectors contributed to this success. The home appliance and air solution business, particularly the air solutions segment, performed well due to seasonal demand.
The vehicle component solutions business is focusing on premium product sales and preparing for future technology advancements. The home entertainment sector is seeing a gradual rebound in premium OLED TV sales despite challenges. The business solutions sector is targeting the market with premium IT products and applying AI to commercial displays. LG's strategic transformation towards a future-oriented business model, including the growth of the B2B business and new business models like subscription services, is driving the company's success.
Signify and Mercedes-AMG PETRONAS Formula 1 Team launch new partnership
Signify and Mercedes-AMG PETRONAS F1 Team have formed a partnership driven by shared values of technological innovation and sustainability. Both entities aim to become leaders in their respective industries while prioritizing responsible innovation that benefits people and the planet. Signify's human-centric lighting solutions will enhance the team's performance by creating optimal conditions for drivers and team members.
The partnership extends beyond the racetrack, with Signify providing immersive lighting experiences for fans watching and gaming at home. Signify's commitment to sustainability includes sharing knowledge and expertise to support Mercedes-AMG PETRONAS F1 Team in developing its Climate Transition Plan.
Alibaba.com Launches Inaugural KEL Award for B2B E-commerce Talent
Alibaba.com recently launched the Key E-commerce Leader Award (KEL Award) to recognize outstanding e-commerce suppliers in South and Southeast Asia. Eligible suppliers from seven countries will compete in national rounds from August to October, with the top 10 finalists advancing to the finale in Vietnam in November. Contestants will showcase their use of Alibaba.com in expanding their export ventures and strategies for global market success.
Evaluations will focus on presentation substance and creativity, communication effectiveness, platform understanding, and inspiring others. Winners will receive expert training, enhanced product exposure, and a sponsored trip to Alibaba.com headquarters. The KEL Award aims to foster learning, collaboration, and motivate SMEs to achieve international success. Registration is open until late July 2024. Check out their site for more details.
Cybercriminal activity on Telegram surges by 53% in 2024
Telegram's popularity has attracted cybercriminals who use it for underground market activities like fraud, data leaks, and criminal services. The platform's perceived security and ease of finding communities contribute to its appeal. While Telegram's cybercriminals may be less sophisticated, there are many scammers within this space.
Hacktivists also use Telegram to make statements, incite attacks, and release stolen data. To address these risks, Kaspersky offers a free playbook to help enterprises track shadow market activities and handle data-related incidents.
TM to develop Malaysia's Next Generation Emergency Services 999 (NG999)
TM and the Malaysian government signed an agreement to develop and operate the Next Generation Emergency Services 999 (NG999) to replace the existing MERS999. NG999 is an integrated digital system that improves resource sharing between emergency responders and central agencies. It incorporates digital maps, caller IDs, geolocation services, and mobile apps to enhance emergency response time. TM's role includes network infrastructure, call management, and support services.
NG999 leverages advanced technologies like data analytics and AI for faster and more effective responses. A new mobile app allows registered users to provide updates via text, photos, and videos, improving communication and tactical deployment.
Ant International and Partners launch Global “Embrace the Power of Small” Campaign
Ant International supports 100 million MSMEs globally, offering digital payment and financial services to empower their growth. Alipay+ expands global acceptance, integrated with national QRs in multiple countries, enabling MSMEs to connect with global consumers. Antom supports merchants with a single integration to over 250 payment methods.
WorldFirst empowers SMEs with international payments to over 200 markets. ANEXT Bank, a digital wholesale bank, focuses on serving micro businesses. Bettr, a new global digital lending service, provides micro lending to MSMEs through embedded finance partnerships. Ant International collaborates with industry partners to drive MSME development, such as launching initiatives for female micro entrepreneurs and an open learning platform for digital leaders.
Penang State Government and Maxis collaborate to support digital skills development and STEM education
The Penang State Government and Maxis collaborate to support digital skills development and digital learning in Penang. The collaboration aims to drive digital adoption among micro, small and medium enterprises (MSMEs) and develop a digitally engaged society. Maxis will provide digital marketing skills training for entrepreneurs and youths, and expand the reach of its digital learning resources among students and teachers in Penang schools through its flagship community programs, eKelas Usahawan and eKelas.
eKelas Usahawan offers free digital marketing workshops, while eKelas is an after-school digital learning program focused on STEM education. Both programs have reached thousands of users nationwide, including hundreds in Penang.
Jirnexu to Acquire CompareHero
Jirnexu, the parent company of RinggitPlus, acquired CompareHero, the Malaysian arm of MoneyHero Limited. The acquisition aims to enhance financial solutions for consumers by integrating Jirnexu's credit score-based recommendation engine and user-friendly WhatsApp chatbot into CompareHero. This strategic move solidifies Jirnexu's leadership in Malaysia's fintech space, enabling consumers to access personalized recommendations, a streamlined application process, and exclusive deals.
Since its founding in 2012, Jirnexu has been a driving force in Malaysia's fintech revolution, empowering millions of Malaysians to make informed financial decisions through innovative solutions and a commitment to financial literacy. The acquisition reaffirms Jirnexu's commitment to financial inclusion and innovation, aligning with their vision of becoming the trusted brand in Malaysia's financial solutions marketplace.
Kaspersky: intensified scamming activity amid EURO 2024
Kaspersky has discovered that Cybercriminals are exploiting the 2024 European Championship to scam users. They are using fake tickets, crypto fraud, fake streams, and fake merch stores to steal users' data and money. Scammers are selling customized coins featuring popular players, promising impressive returns, but the value crashes within minutes. Fake streaming platforms offer exclusive event coverage at low prices but may leak payment and personal data.
Fraudulent online stores sell fan paraphernalia at a 40% discount but never deliver the items. To stay safe, only purchase from official sources, be skeptical of deals, secure your data, use security software, and educate yourself about common scam tactics.
MSME Day 2024: Alibaba.com Commits to Scaling AI Tools for MSMEs
Alibaba.com, honored businesses for their pursuit of success and global growth ahead of MSME Day. Alibaba.com has been rolling out AI tools for global suppliers, attracting around 30,000 businesses. MSMEs are embracing AI, with 25%-30% of those surveyed using AI daily. Alibaba.com's AI tools have increased product exposure by 37%, leading to more business opportunities.
Alibaba.com is expanding its supplier support in developing countries, aiming to onboard 100 African MSMEs and hold 300 events in developing nations. Alibaba.com connects over 48 million buyers and 200,000 suppliers globally, simplifying global sourcing and selling. Check out their site for more details.
Canon Elevates Ocean Awareness Through Captivating Photography Workshop and Exhibition
In collaboration with Borneo Marine Research Institute and Universiti Malaysia Sabah, Canon Marketing Malaysia organized a program called "Exploring Ocean Awareness Through Photography" to raise awareness about ocean conservation. Renowned underwater photographer Ipah Uid Lynn led a workshop on aquatic photography, teaching participants essential skills and responsible practices for capturing the beauty of the underwater world.
A captivating photo exhibition featuring Ipah's breathtaking underwater photographs printed by Canon's imagePROGRAF Pro Series highlighted the awe-inspiring beauty and vulnerability of our oceans. Canon believes in the power of imaging to inspire positive change and hopes to ignite a passion for marine conservation through this program. Canon and BMRI aim to continue their collaboration to promote ocean conservation and encourage responsible action to protect our planet's vital marine ecosystems. Check out their site for more details.
Infinix is in the Top 50 Kantar BrandZ Chinese Global Brand Builders 2024 ranking
Infinix was recently recognized in the Top 50 Kantar BrandZ Chinese Global Brand Builders 2024 ranking, climbing up to the 44th spot. Infinix focuses on innovation, technology, and differentiation to deliver essential products and build brand value. The NOTE 40 series and GT 20 Pro dual-core gaming flagship have garnered significant attention for their cutting-edge technology and stylish design.
Infinix follows a strategy of "global layout + localization practice," blending global trends with regional innovations to meet specific regional needs. Operating in over 70 markets, Infinix has successfully achieved global localization in R&D, production, and marketing.
Atome Financial secures growth debt facility from EvolutionX for expansion in Southeast Asia
Atome Financial, a leading Southeast Asian digital financial technology platform, secured a three-year term loan facility from EvolutionX Debt Capital to drive expansion and launch new products. The facility will support the growth of the company's profitable regional credit portfolio and the introduction of savings, lending, insurance, and Atome Card in markets like Singapore, Malaysia, the Philippines, and Indonesia.
Atome Financial achieved impressive business performance in FY2023 with operating income nearly doubling and turned profitable in Q1 2024. Backed by top-tier investors, the company aims to improve financial inclusion and access to mobile-first financial services in underserved markets in Southeast Asia. EvolutionX is excited to support Atome Financial's journey and recognizes its operational excellence and platform value.
Samsung’s 2024 AI-Powered TV and Soundbar Lineup Impresses
Samsung's 2024 TV lineup, including Neo QLED 8K, Neo QLED 4K, OLED, and audio products, has received positive feedback from professional reviewers. The Neo QLED 8K QN900D stands out with its NQ8 AI Gen3 Processor, which offers improved 8K upscaling and enhanced picture and sound quality. Reviewers praised the QN900D's processing power and 8K AI Upscaling capabilities, highlighting its ability to deliver detailed and finely rendered images.
Samsung's 2024 lineup pushes boundaries with state-of-the-art features and innovations, promising an exceptional viewing experience. Samsung's 2024 Neo QLED 8K TVs, including the QN900D and QN800D, received praise for their upscaling capabilities, brightness, contrast, and color. The Neo QLED 4K lineup, powered by the NQ4 AI Gen2 Processor, impressed reviewers with its AI-powered picture, sound, and optimization features.
Samsung's OLED TVs, such as the S95D, were recognized for their high levels of detail, high-frame rates, and vibrant display. The S95D's upscaling technology, brightness, color accuracy, and glare-free technology were particularly commended. Samsung maintains its position as the global leader in the TV market for 18 years and the soundbar market for a decade.
COMMENTS