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Investment & Market Trends

Robust Demand for Affordable Homes Drives Mah Sing’s Growth Amidst Data Centre Expansion

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KUALA LUMPUR: Mah Sing Group Berhad (“Mah Sing”), a prominent Malaysian property developer, continues to exhibit robust performance, driven by strong demand for affordable housing and strategic expansion into the data centre (DC) sector. Strong Financial Performance in 1HFY24 Mah Sing reported a core net profit (CNP) of RM116 million for the first half of the fiscal year 2024 (1HFY24), marking a 19% year-on-year increase. This performance came despite a 12% decline in revenue, attributed to the early stages of new project sales that have yet to significantly contribute to the company’s top line. The improved CNP margin, rising to 10% from 7.5% in the previous year, underscores the company’s effective cost management and project execution. Affordable Housing Segment Remains a Pillar The company has secured RM1.7 billion in new sales year-to-date, achieving 66% of its FY24 sales target of at least RM2.5 billion. This success is largely driven by the affordable housing segment, which continues to see over 90% take-up rates. With multiple project launches planned in the second half of the year, including M Aspira, M Terra, and M Zenya, Mah Sing is well-positioned to exceed its sales targets. Strategic Expansion into Data Centres In addition to its property development business, Mah Sing is making significant strides in the data centre sector. The initial collaboration with Bridge Data Centres for up to 100MW capacity at Southville City has set the stage for further expansion. The company is currently in advanced negotiations for an additional 90MW project and is exploring the sale of 42 acres of land at its Meridin East township in Johor Bahru to a data centre player. This move could generate a disposal gain exceeding RM100 million, contributing significantly to Mah Sing’s FY24 net profit. Outlook and Valuation AmInvestment Bank has maintained its “BUY” rating on Mah Sing with an unchanged fair value of RM2.11 per share, based on a sum-of-parts (SOP) valuation. The stock trades at a price-to-earnings (P/E) ratio of 14x for FY25, offering a fair dividend yield of 3%. The bank’s positive outlook is supported by Mah Sing’s agile business model, strong focus on affordable properties in high-demand areas, and strategic foray into Malaysia’s booming data centre industry. As Mah Sing continues to leverage its core competencies and explore new growth avenues, the company remains well-positioned for sustainable long-term growth, backed by strong financials and strategic initiatives. Analysts’ reports maintain BUY call on Mah Sing respectively: UOBKayHian – 2Q24: Results Within Expectations; Achieves RM1.66b In Sales (TP: rm2.29) TA Securities – Steady Performance (TP: RM2.11) RHB – Awaiting More DC Deals To Come; BUY (TP: RM 2.26) CIMB Securities – 1H24 results inline; DC plans taking shape (TP: RM2.10) AmInvestment Bank – Robust demand for affordable homes with DC catalysts (TP: RM2.11)

Uncategorized

ANDE Conference: Unlocking Big Ideas for Small Business

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 Thought leaders, innovators, and change-makers in entrepreneurship and economic development from around the world will gather at the · Aspen Network of Development Entrepreneurs (ANDE) 2024 Conference in Bangkok, Thailand from Tuesday, September 10 to Thursday, September 12. Let’s come together to celebrate ANDE’s 15th anniversary to share our big ideas and collectively shape the future of entrepreneurship. ANDE will gather at the Royal Orchid Sheraton Hotel & Towers for the multi-day event. “We are delighted to host the ANDE Global Conference in Bangkok, Thailand, in 2024,” said Devin Chesney, Interim Executive Director, Aspen Network of Development Entrepreneurs (ANDE). “As it celebrates its 15th anniversary, ANDE remains in a strong position to deliver its global mission. Its regional chapters across Latin America, Africa, and Asia remain vibrant and are led by extraordinary leaders.” This year’s conference will explore three key themes: Climate Action: Explore green value chains and innovative financing to drive sustainability. Digital Transformation: Leverage tech to boost financial inclusion and business growth. Gender Equality: Implement strategies to empower women entrepreneurs and close the finance gap. Inclusive Innovation: Build an ecosystem where every entrepreneur thrives. Some Highlights of the Conference include a small sample of the sessions and conducted by ANDE members as presented in the event’s agenda: Tuesday, September 10 Welcoming Remarks 9:00 AM – 9:30 AM Ballroom 2-3 Description: Kick-start the conference with opening comments to set the tone for an enriching and productive conference experience. Speaker:  Devin Chesney, Interim Executive Director, Aspen Network of Development Entrepreneurs (ANDE). Unlocking Supply Chain Diversity: Empowering Small Businesses for Global Impact 10:05 AM – 10:15 AM Ballroom 2-3 Description: FUNDES will present innovative approaches to addressing the lack of diversity in global supply chains. Through engaging success stories and compelling data, attendees will gain insights into the transformative power of diverse small and medium-sized enterprises (SMEs) into corporate procurement practices. Speaker: Elfid Torres, FUNDES, CEO The Secret Small and Growing Business Climate Innovators – Sheltertech 9:55 AM – 10:05 AM Ballroom 2-3 Description:  Small and growing businesses (SGBs) are playing a crucial role in creating tools for low-income families to adapt their homes to the extreme weather conditions that come with climate change. This is an urgent theme for business development services to support. Speaker: Nihar Agarwal, Green Banana, Founder Wednesday, September 11 Entrepreneur Fireside Chat 9:45 am – 10:30 am Ballroom 2-3 Description: ANDE’s Interim Executive Director, Devin Chesney, will host a conversation with successful entrepreneur Michael Chen, Chief Executive Officer of Buzzebees, to discuss Michael’s journey, including the challenges they faced and their success stories. Speaker: Michael Chen, Chief Executive Officer, Buzzebees Empowering Female Entrepreneurs in Africa: AI, Blockchain, Cybersecurity, and the Future of Work 11:10 am – 12:40 pm Riverside 6 Speakers:  Gordon Adomdza, Associate Professor, Business Administration, Ashesi University, Margaret Jackson, Managing Partner, Rainbow Consult, and Tonisha Tagoe, Executive Director, Apples and Pears Holdings Ltd Thursday, September 12 Connection Day: Meet, Mingle & Network 8:00 AM – 8:00 PM Royal Orchid Sheraton Hotel & Towers Closing Reception, Co-hosted with Seedstars 7:00 PM – 10:00 PM The Grand Finale will be a spectacular reception in a surprise location to be revealed soon. Final day is also for curated off-site excursions to discover Bangkok’s impact investment ecosystem and options can be viewed here. 

News

JCorp appoints Najmie Noordin as first chief learning officer

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KUALA LUMPUR: Johor Corporation (JCorp) Group has appointed Najmie Noordin as its first chief learning officer (CLO). In a statement, JCorp said the new CLO role highlights its commitment to innovation and meeting evolving corporate learning needs as part of its transformation journey. The division includes JCorp Academy (JCA), Johor Skills Development Centre (JSkills), and CEREBRUM, JCorp’s innovative think-and-do tank. Najmie holds an MBA from the University of Manchester and a Bachelor’s Degree in Law (Hons) from Universiti Teknologi MARA (UiTM). His expertise spans people management, sales planning, branding and marketing. Prior to joining JCorp, Najmie served as chief executive officer (Group) at Cosmopoint Sdn Bhd, where he also held the position of chief operating officer (Group).–THE STAR

News

MCMC in final stages of evaluating second 5G tenders, says Fahmi

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KUALA LUMPUR: Communications Minister Fahmi Fadzil announced that the Malaysian Communications and Muia Commission (MCMC) is in the final stages of evaluating tenders for the country’s second 5G rollout. “We expect an announcement within the next few weeks on the operators selected to develop the second 5G network,” he told reporters after the launch of CIMB’s Kita Bagi Jadi initiative here. Last month, it was reported that four major mobile network operators (MNOs) had submitted bids to develop the second 5G network: CelcomDigi Bhd, Maxis Bhd, UMobile, and Telekom Malaysia Bhd. Fahmi reiterated that the telecommunications companies involved had agreed on several key principles before acquiring shares in Digital Nasional Berhad (DNB), originally set up as the national 5G wholesaler, which is a prerequisite for bidding on the second rollout. These principles include ensuring that the services offered in the second network will not cost more than those currently offered by DNB. In May last year, Putrajaya agreed to introduce a second 5G service provider to move towards a two-network model. Meanwhile, Fahmi highlighted that the ministry’s focus under the 2025 budget includes improving internet access in schools and higher education institutions. “We are prioritising the telecommunications sector to ensure that schools and higher learning institutions receive the best possible internet access.” He also noted the ministry’s commitment to the creative industry, citing the success of initiatives like the Film in Malaysia Incentive, which he believes has laid a strong foundation for growth in the creative sector. Deputy Communications Minister Teo Nie Ching previously stated on August 20 that the programme has attracted significant foreign investment and boosted film production activities within the country.–FMT

Uncategorized

MCMC in final stages of evaluating second 5G tenders, says Fahmi

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KUALA LUMPUR: Communications minister Fahmi Fadzil said the Malaysian Communications and Multimedia Commission (MCMC) is in the final stages of evaluating the tenders for the country’s second 5G rollout. “We expect an announcement to be made within the next few weeks on who will be the operators selected to develop the second (5G) network,” he told reporters after the launch of CIMB’s “Kita Bagi Jadi”  initiative here. Last month, it was reported that four major mobile network operators (MNOs) had submitted their bid to develop the second 5G network. The MNOs are CelcomDigi Bhd, Maxis Bhd, UMobile and Telekom Malaysia Bhd. Fahmi reiterated that the telecommunications companies involved agreed on several key principles before acquiring shares in Digital Nasional Berhad (DNB), originally set up as the national 5G wholesaler, a prerequisite to bidding for the second rollout. These include an undertaking that the services offered in the second network will not cost more than that currently provided by DNB. In May last year, Putrajaya agreed to introduce a second 5G service provider to shift to a two-network model. Meanwhile, Fahmi said the ministry would focus on improving internet access in schools and higher education institutions under the 2025 budget. We are prioritising the telecommunications sector, where efforts are being made to ensure that schools and higher learning institutions receive the best possible internet access. Fahmi also said the ministry would focus on the creative industry, citing the success of previous initiatives such as the Film in Malaysia Incentive, which he believes has set a strong foundation for growth in the creative sector. On Aug 20, Deputy Communications Minister Teo Nie Ching said the programme drew significant foreign investment and boosted film production activities within the country.–FMT (Free Malaysia Today).

Uncategorized

FGV appoints group CFO as acting CEO

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PETALING JAYA: FGV Holdings Bhd has appointed its group chief financial officer (CFO) Datuk Mohd Hairul Abdul Hamid as acting group chief executive officer (CEO). In a filing with Bursa Malaysia, FGV said the appointment came following the departure of its former group CEO Datuk Mohd Nazrul Izam Mansor. FGV said the contract employment of Mohd Nazrul, 49, had ended on Sept 1, 2024. Mohd Hairul, 54, will assume the responsibilities of the group CEO until further notice. “Mohd Hairul has over 30 years of experience in finance, where he began his career in Sime Darby Bhd in 1994 as a management trainee and rose to become a group accountant in 1997.” Before joining FGV as the group CFO in January 2019, he was the CFO of Mass Rapid Transit Corp Sdn Bhd from March 2012 to December 2018–The Star

Upcoming Events

MY Token Set to Usher in the Future as Malaysia’s Premier Blockchain and Web3 Event

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KUALA LUMPUR: The inaugural MY Token event, scheduled for September 14 to 15, is set to redefine the blockchain and Web3 landscape in Malaysia. Poised to become the premier blockchain-related event in Asia and beyond, this landmark event will convene a global assembly of pioneers, including entrepreneurs, investors, developers, and industry experts, alongside international media, marking it as a pivotal gathering that will shape the future of blockchain innovation. “MY Token was founded to drive economic growth and tourism in Malaysia by attracting major Web3 brands and creating pathways for Web2 talents to transition into the Web3 space. Our platform aims to position Malaysia as a global tech hub, fostering collaborations that will shape the future,” said Sangeet Singh, Co-Founder of MY Token. ELEVATING MALAYSIA’S AMBITIONS MY Token, distinguished as the first blockchain and Web3 event in Malaysia to receive endorsements from Tourism Malaysia and the Malaysia Digital Economy Corporation (MDEC), exemplifies the increasing recognition and support for the blockchain industry within the country. “Malaysia has long been at the forefront of embracing technological innovations that have driven forward our tourism industry. The MY Token event is a testament to our commitment to fostering an environment that supports the growth of emerging technologies like blockchain and Web3. By hosting an event of this scale and significance, we are not only elevating Malaysia’s position as a hub for digital transformation but also showcasing our beautiful country with its diverse cultures, attracting travellers from around the world who will contribute to the vibrancy of our tourism industry,” said YBhg. Datuk Manoharan Periasamy, Director General of Tourism Malaysia. Meanwhile, Ts. Mahadhir Aziz, Chief Executive Officer of MDEC added, “Under the national strategic initiative, Malaysia Digital (MD), MDEC is committed to fostering innovation and growth within the digital economy. By supporting trailblazers like MY Token, we are excited to see Malaysia host an event that will undoubtedly catalyse the development of the Web3 ecosystem in the region and ensure that Malaysia remains at the forefront of the global digital transformation. As we continue to drive our nation towards becoming a regional leader in digital innovation, MY Token is a pivotal event that brings together the brightest minds and fosters collaborations that will propel the industry forward. Together, we are laying the groundwork for a robust, inclusive digital ecosystem that empowers businesses and individuals alike.” A GLOBAL NEXUS MY Token will bring together leading industry players such as Horizen Labs, Forbes Web3, Polygon Chain, OX Media, Mocaverse, Real Protocol, Roam, PuffPaw, Chain Party, TechFlow, TechHub, and many others. These influential brands will draw participants from across the globe, including key regions such as China, Hong Kong, Taiwan, Thailand, Vietnam, Indonesia, the USA, and Europe. Additionally, MY Token has appointed a team of Web3 Ambassadors from key markets across Asia, including Malaysia, Hong Kong, Singapore, the Philippines, India, South Korea, and Taiwan. This distinguished group features Forbes 30 Under 30 honourees Renz Chong, Evan Luthra, and Gala Ling, along with Victor Lim Chun Howe, Johnny Lee, Casper Tan Wei Xiang, Jeongjin Lee, Yummy Tsu, and Michill Liu. Together, they will actively promote MY Token and highlight Malaysia’s burgeoning role in the digital economy, showcasing the country as a dynamic hub for blockchain innovation. This international convergence will significantly boost Malaysia’s tourism sector and contribute to the country’s economic growth, emphasising the event’s broader impact beyond the blockchain sector. A QUINTESSENTIAL EVENT FOR THE BLOCKCHAIN AND WEB3 FRATERNITY MY Token serves as a central hub for global leaders in the blockchain and Web3 space, offering an experience unlike any other in the region. A key highlight is the Play to Earn activity, where visitors embark on an immersive scavenger hunt across participating booths. Completing challenges and collecting stamps unlocks exciting rewards, including hot air balloon rides and entry into a massive raffle with giveaways worth up to RM 500,000. The event will also showcase the latest in blockchain technologies, products, and services, providing a first-hand look at innovations that are shaping the decentralised landscape. Attendees will benefit from educational sessions, hands-on workshops, and expert-led panels that offer valuable insights into these technologies and emerging trends. Additionally, MY Token features a dedicated gaming zone for engaging interactive experiences and Lightning Pitch sessions where startups, entrepreneurs, and innovators can present their groundbreaking projects to top venture capitalists and investors. With its diverse offerings designed to stimulate innovation and community engagement, MY Token is an essential event for anyone in the blockchain and Web3 ecosystem. POWERED BY INDUSTRY GIANTS With a mission to accelerate the adoption of blockchain technology, MY Token will be presented by some of the biggest names in the Web3 space. ApeCoin (APE), managed by a Decentralized Autonomous Organization (DAO), is the Presenting Sponsor. As a utility and governance token created to empower the community surrounding the APE ecosystem, ApeCoin will showcase its rapidly expanding ecosystem, including ApeChain–a gaming-focused platform on Arbitrum. ApeChain will operate as a Layer 3 network, controlled by Ape holders. Animoca Brands, a prominent Web3 leader, is another major partner and sponsor.  Under the leadership of its internationally recognised Chairman and Co-Founder, Yat Siu, Animoca Brands is renowned for leveraging blockchain to deliver digital property rights to consumers worldwide and for its role in establishing the open metaverse. The company will showcase its ecosystem at an activation booth, including its flagship project, Mocaverse. Yat Siu will also be a key speaker at MY Token. “MY Token represents a significant step forward for the blockchain industry in Asia, and we are honoured to be part of it. It provides a vital platform for showcasing transformative projects like Mocaverse and connecting with the global community. The convergence of minds at this event will ignite new ideas, forge strategic partnerships, and advance the digital economy with lasting impact on the industry and beyond,” said Yat Siu, Chairman and Co-Founder of Animoca Brands. Matr1x Gaming, a key sponsor, is driving the evolution of the global gaming and digital content industries through blockchain and AI integration. As a trailblazer in this field,

ESG

UOB partners Invest Johor to drive foreign direct investments into the Johor-Singapore SEZ

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SINGAPORE: UOB today signed a Memorandum of Understanding (MOU) with Invest Johor, the state’s investment agency, to drive investment opportunities into the upcoming Johor-Singapore Special Economic Zone (SEZ). UOB also signed a second MOU today with China’s Lingang Group, an industrial park operator with more than 18,000 tenants across China. Under the partnership, UOB will facilitate Lingang Group and its tenants to expand into Southeast Asia.   Partnering to grow the Johor-Singapore SEZ Under the partnership with Invest Johor, UOB will collaborate with the state investment agency to jointly promote and facilitate investment opportunities in the Johor-Singapore SEZ. This will be done by targeting high-value, high technology and high-impact investments from priority sectors such as electrical and electronics, advanced manufacturing and engineering, digital economy, green economy, life science and med-tech, electric vehicles, aerospace and port and logistics.   Notably, a “green lane” will be jointly established, with UOB designated as a partner to assist with foreign direct investments in these prioritised sectors to accelerate their investments. UOB will also provide advisory and banking services to companies looking to invest in Johor as part of the MOU.   The MOU was signed by Invest Johor’s CEO, Mr Natazha Bin Hariss and UOB Malaysia’s CEO, Ms Ng Wei Wei, at the ASEAN Conference held in Singapore today. The ceremony was witnessed by Johor’s Menteri Besar, Yang Amat Berhormat Dato’ Onn Hafiz bin Ghazi, and UOB’s Deputy Chairman and Chief Executive Officer, Mr Wee Ee Cheong. Dato’ Onn Hafiz said, “From our engagements with key stakeholders of the Johor-Singapore SEZ, expectations are very high. This will require us to step up our game, provide excellent service and ensure that we not only meet but exceed these expectations. Today’s MOU between Invest Johor, the state’s lead investment agency and UOB, one of ASEAN’s leading financial institutions with over seven decades of experience in assisting investors in Malaysia, is one example of our seriousness and focus on improving the investor experience in Johor.” Mr Wee Ee Cheong said, “UOB is pleased to work with like-minded partners to support businesses in navigating the diverse ASEAN region. Our strategic partnerships with regional government investment agencies and trade associations have successfully connected enterprises such as Lingang Group to cross-border investment opportunities, benefitting businesses across multiple sectors. We remained committed to serving as an effective gateway to the region for companies expanding into the region.” UOB is the only bank to have signed MOUs with all the government investment agencies in the key ASEAN markets.   Ms Ng Wei Wei, Chief Executive Officer of UOB Malaysia said, “The MOU with Invest Johor reinforces UOB’s commitment to facilitate foreign direct investment into Malaysia and support the success of the Johor-Singapore SEZ. Apart from bringing in investments, we will also connect foreign investors to the local ecosystem value chains to benefit our local businesses, particularly SMEs. This is to ensure that foreign investors can tap into local resources and the investments can bring multiplier effect to the economy.”   MOU with China’s Lingang Group In addition, UOB facilitated a meeting with China’s Lingang Group, Johor’s Menteri Besar and a delegation from Invest Johor at the sidelines of the ASEAN Conference.   This followed the signing of the second MOU today between UOB and Lingang Group, an industrial park operator with more than 18,000 tenants across China. Under the partnership, UOB will facilitate Lingang Group and its tenants to expand into Southeast Asia.   The MOU with Lingang Group was signed by Ms Yang Jing, Chief Financial Officer, Lingang Group, and Mr Leong Yung Chee, Head of Group Corporate Banking at UOB. It was witnessed by Mr Weng Kaining, Chairman, of Shanghai Lingang Holdings Corp, and Mr Frederick Chin, Head of Group Wholesale Banking and Markets, UOB.   The state-owned enterprise has more than four decades of experience developing industrial parks and focuses on investment promotion and operation of industrial parks, professional enterprise services and sci-tech industrial investment. Lingang Group currently operates the China (Shanghai) Pilot Free Trade Zone (FTZ), a tech hub established in 2019 and has played a key role in the opening of China’s economy to global investors.   Lingang Group’s cross-border expansion plans will leverage UOB’s extensive trade network as the preferred bank for all their banking needs. UOB, through UOB China, has successfully facilitated first-of-its-kind cross-border transactions with Lingang Group, benefitting both onshore Chinese and UOB clients to route their capital and trading flows through the policies and concessions offered under the Pilot FTZ.   UOB’s Foreign Direct Investment Advisory Unit will also serve as a one-stop shop dedicated to helping Lingang Group through its close partnerships with regional government agencies, trade associations and professional service providers, providing customised solutions to fit Lingang Group’s expansion plans.  

Energy & Technology

BigID Extends Industry-leading DSPM to Cohesity for Backup & Recovery

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MALAYSIA: BigID, a leader in data security, compliance, privacy, and AI data management, announced an expanded partnership with Cohesity empowering organizations to find and take action against critical data risks and vulnerabilities across backup and recovery processes. These new developments give organizations unparalleled visibility, context, and control over their sensitive data, across the entire environment – significantly improving data security and risk management at the enterprise scale. The new integration allows organizations to pinpoint sensitive data, identify potential exposure issues related to backup and recovery, and then carry out the appropriate remediation controls and measures to mitigate risk. As a founding member of the Cohesity Data Security Alliance, BigID extends beyond its existing integration within Cohesity’s DataHawk. This new integration will give organizations comprehensive visibility into the location of sensitive data and potential exposure issues related to backup and recovery. BigID’s partnership with Cohesity will deliver a comprehensive approach towards managing and protecting sensitive data from unwanted exposure, enabling joint customers to: Rapidly Identify and Secure Sensitive Data: Discover and map sensitive data sources with or without existing backup policies. Organizations can streamline the process of identifying sensitive data that lack proper security controls, including data backups, so they can swiftly implement the necessary safeguards and measures. Simplify Cyber Recovery Compliance: Simplify compliance by getting a clear picture of data risks and vulnerabilities, as well as existing security controls. This empowers organizations to identify and close gaps between their data protection practices and compliance requirements, ensuring a robust security posture. Proactive Data Security & Risk Management: Maintain visibility into sensitive data across the environment to quickly identify and address potential data exposure risks and vulnerabilities. Organizations can proactively apply remediation actions and security controls faster and more comprehensively to mitigate the chance of a data breach or leak. While the initial integration will enable visibility in sensitive data exposure, BigID is committed to expanding its partnership with Cohesity towards building proactive and automated remediation against data risks. “BigID and Cohesity share a vision of providing proactive Data Security Posture Management with not only visibility into sensitive data exposures but also proactive, automated remediation. We are excited about this next step that we have embarked on together.” – Shay Azulay, Sr. Director, Security Products at BigID. “It is critical for enterprises to quickly and effectively respond to cyber attacks on their critical data sets. However, customers can achieve that rapid response during an attack only if they identify exposures and proactively adjust data protection policies and practices before an attack. Our joint customers can address both scenarios through Cohesity’s integration with BigID’s Data Security Posture Management capabilities.” – Sheetal Venkatesh, Sr. Director, Data Security Products at Cohesity.

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