Author name: admin

HONG KONG: Hexa Capital Consultancy PLT (Hexa), owner of the Malaysia-U.S. (MYUS) cable based in Malaysia, and Equinix, Inc. (Nasdaq: EQIX), the world’s digital infrastructure company®, today announced the signing of a Memorandum of Understanding (MoU) to provide businesses with direct connectivity between Asia-Pacific and the United States. Connecting the MYUS cable with the Equinix International Business ExchangeTM (IBX®) data centers in Malaysia, Indonesia and the US will allow MYUS customers to directly access a vast ecosystem of hyperscalers, network and content service providers, and enterprises, fostering digital exchanges between the two market regions. The Southeast Asia digital landscape is experiencing rapid growth and transformation, fueled by the increasing adoption of digital technologies and the rise of digital economies. With a population of over 650 million people and a thriving tech startup ecosystem, the region presents immense opportunities for business growth and innovation. However, to fully unlock the potential of this digital revolution, robust connectivity between Southeast Asia and the United States is crucial to enable the exchange of data, knowledge, and ideas, facilitating collaboration, expanding market reach, and driving economic growth.    The collaboration between Hexa and Equinix aims to allow businesses in Southeast Asia to tap into the vast resources, markets, and expertise available in the US, while also enabling US companies to access the vibrant Southeast Asian market.   The MYUS cable will connect Malaysia and the U.S. directly for the first time with high-capacity fiber optic connectivity, increasing access to reliable and affordable digital services across Southeast Asia. The cable backbone will extend between the Malaysian Peninsula near Sedili, Johor; to the U.S territory of Guam and then directly onward to Florence, Oregon. Along the path, MYUS will also connect Batam and Jakarta in Indonesia, and Davao in the Philippines. The cable is proposed to be ready for service in the second half of 2028.  Subsequent future phases would extend the network to Balikpapan, Hawaii and other locations through incremental cable builds and strategic partnerships. Equinix operates data centers in Kuala Lumpur and Johor in Malaysia; Jakarta in Indonesia, and numerous data centers in Seattle, Washington and Silicon Valley and Los Angeles, California on the West Coast of the U.S. With data centers in close proximity to the cable landing stations, MYUS customers and network service providers will be able to interconnect with the dense ecosystems of more than 10,000 companies around the world.   Hexa partners with an Indonesian Landing Party that is already developing a suitable landing site for multiple cable landings, including the landing for MYUS in Batam and the Jakarta.  The Jakarta Landing Site is located in the area known as Tanjung Pakis, to the east of Jakarta, which is close to JK1 to be located in the southern section of central Jakarta.   Hexa has recently announced its MYUS Florence, Oregon Cable Landing which provides an ideal Pacific Northwest aggregation and distribution point for fiber pairing owners’ (FPO) traffic either transiting onward north to Seattle or south to Hillsboro, Silicon Valley, Los Angeles and beyond.  Equinix’s multiple data center facilities located in Seattle (SE2, SE3, SE4) and in Silicon Valley (SV1, SV2, SV3, SV4, SV5, SV8, SV10, SV11, SV14, SV15, SV16, SV17) would be immediately accessible on third-party, redundant fiber routes to and from Florence.   This new strategic collaboration between Hexa and Equinix expands global connectivity and improves internet infrastructure in the Southeast Asia region, providing the crucial link between cloud, content and digital processing workloads housed in the region’s key data centers.  MYUS will enhance global digital infrastructure by strengthening international data exchange, decreasing latency, and providing robust connectivity across continents.    “The MYUS Cable is being designed specifically to provide trusted and reliable direct fiber connectivity for the very largest of global hyperscalers, cloud and content services providers as well as for major telecom carriers, it is likely that there will be a high degree congruency between MYUS Cable customers and Equinix’s largest data center customers,” noted Dr Abang Azhari Hadari, Founder & CEO of Hexa.   Today, Equinix boasts a global network of more than 60 subsea connected data centers across 35 metros. With the expertise in infrastructure and cable systems, Equinix plays a pivotal role in reducing cable landing system overhead costs and managing landing points.     Cheam Tat Inn, Managing Director, Malaysia, Equinix, commented, “At Equinix, we recognize the critical role that subsea cables play in today’s interconnected global economy. We are proud to leverage our extensive expertise and experience in hosting subsea cables to support the MYUS cable project. By providing reliable and efficient connectivity solutions, we enable businesses to thrive in the digital era and unlock new opportunities in the global marketplace.”   Hexa is in the process of finalizing anchor fiber pair customers, negotiating the system supply contract and closing on its full project implementation financing which is expected in 2025. 

The state recorded investment collections amounting to RM66.8 billion as of September, surpassing the RM55 billion target set for this year, said Menteri Besar Dato’ Seri Amirudin Shari. He said the report released by the Investment, Trade, and Industry Ministry positioned Selangor as attracting the most investments. “Malaysia has recorded the highest total collection in history, with RM254 billion nationwide in the first nine months.“Selangor was recorded as the state attracting the most investments, with RM66.8 billion. By the end of September, we had already exceeded the RM55 billion target,” he said. Amirudin added that his administration is currently focusing on the Second Selangor Plan (RS-2), expected to be tabled next year or in 2026, in addition to several other projects, including the Greater Klang Valley project. “This project not only involves infrastructure like roads, lighting, and drainage but will also see the redevelopment of old areas to attract new investments. We need stability and cooperation from all parties. “Two days ago, I met with the Transport Minister, and we came up with the idea to extend the Kita Selangor Rail from Sabak Bernam to Sepang so that the people can travel with ease. Stability is essential to ensure all of this proceeds without disruption,” he said. On Wednesday, the Menteri Besar announced that Selangor had recorded a revenue collection of RM2.593 billion so far, exceeding the target value of RM2.2 billion by 18 per cent this year. This achievement reflects the dedication of civil servants and the administrative team, as well as the confidence of local and international investors in the current administration.–BUSINESS TODAY

KUALA LUMPUR: Malaysia approved RM254.7bil of investments for the first nine months of 2024 (9M24), a steady 10.7% rise from the previous year, reflecting Malaysia’s sustained economic momentum, propelled by the services, manufacturing, and primary sectors, says the Malaysian Investment Development Authority (Mida). Quoting Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, a Mida statement said this underscores investors’ unwavering confidence in the country’s economic policies and direction. “This 10.7% year-on-year growth and the creation of over 159,000 jobs (involving 4,753 new projects) speak volumes of Malaysia’s strategic frameworks,” he said. Domestic investments led the way, accounting for 58.1% of the total approved investments, valued at RM148bil, while foreign investors contributed RM106.7bil, or 41.9%. Mida said domestic businesses rose and displayed commendable resilience despite current challenging times. “This healthy ratio between robust domestic participation and strong foreign interest forms a solid foundation for Malaysia’s future economic growth and resilience,” it added. — BERNAMA

HONG KONG: Hong Kong’s housing price index edged up by 0.6% month-on-month in November, narrowing the cumulative drop in the first ten months of the year to 6.8%, according to a Cushman & Wakefield report. Mid-and-small size unit price index slightly rose by 1% in the fourth quarter (Q4); whilst home prices in popular estates across segments also rose. Small-sized market prices rebounded by 13.5% quarter-on-quarter (QoQ) whereas middle-sized market prices increased by 0.7% QoQ. Prices for the luxury market also moved up by 0.5% QoQ. “The U.S. Federal Reserve has cut interest rates and Hong Kong following suit has prompted potential buyers to reassess and compare the performance of banks’ deposit rates versus residential rental yields,” Rosanna Tang, executive director for Hong Kong at Cushman & Wakefield, said. Moreover, overall residential market sentiment improved in Q4. The report forecast that residential transactions in Q4 will reach 15,800 units, up by 54% QoQ and by 108% year-on-year, bringing the full-year transaction volume to 53,800 units. “Looking ahead to 2025, if interest rates continue to stay on a downward trend, and the stock market remains stable, we expect residential transaction volume will increase by 5% to 8% to a level of 56,000–58,000 units, supporting an overall price rebound in the range of 5%,” Tang added.–HONG KONG BUSINESS