Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Icon-facebook Icon-instagram-1 Linkedin
Newsletter
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Author name: admin

The Executives

Former Tourism DG: Clamp Down on Illegal Tourism Practices In Langkawi

/

KUALA LUMPUR: Authorities at both state and federal levels are urged to intensify efforts to eradicate illegal tourism operations throughout Langkawi, as there is a greater need for a major clean-up to restore the island’s reputation and ensure a sustainable future for its legitimate tourism industry. Former tourism ministry director-general Datuk Seri Mirza Mohammad Taiyab Beg said there has been a surge in unlicensed hotels, motels, tour operators, and car rental services operating across Langkawi. He said these illegal operators not only compromise the quality of the tourist experience but also result in significant revenue losses for the state due to unpaid taxes. “By eliminating these illegal operators, a concerted effort must also be made to make room for licensed and legitimate operators who comply with regulatory standards and contribute positively to the local economy. “In addition to cracking down on illegal operators, there is a strong push to enhance transport links to and from Langkawi. “Proposed measures include increasing the number of ferry services from Penang and other destinations to boost accessibility to Langkawi. “This enhancement in transport facilities will attract more domestic and international tourists, thereby increasing economic input into the region,” he told The Exchange Asia. Furthermore, he said, the tourism-related authorities must implement a new programme to promote visits to the islands surrounding Langkawi. “Lower ferry fees could make these nearby islands more accessible, enriching Langkawi’s tourist offerings and spreading economic benefits widely across the region. “The government must take proactive initiatives to foster a healthier, more regulated, and economically beneficial tourism environment, ensuring that Langkawi continues to thrive as a premier island destination in Malaysia,” Mirza said. Further, Mirza urged the government at the state and federal levels to address several critical areas impacting the industry, focusing on improving facilities, accessibility, transportation, and safety and security measures vital for sustaining and growing tourism across the country. “There is a growing consensus among industry stakeholders that enhancing these aspects of tourism infrastructure is essential for maintaining Malaysia’s appeal as a top travel destination. “Specific improvements in transportation networks and the security framework are necessary to ensure a safe, accessible, and enjoyable experience for international and domestic travellers,” he said. Additionally, Mirza said there is strong advocacy to rope tourism experts to the ministry and related tourism bodies and agencies to elevate the tourism industry, as the current sentiment among industry professionals is that the sector suffers due to the appointment of individuals lacking relevant tourism knowledge and expertise. Mirza, who is also the chairman of the Association of Ex-Staff Tourism Malaysia (AESTOM), said skilled and experienced professionals must be involved in strategic planning and decision-making processes to foster innovative ideas and practical solutions that will elevate the tourism industry. “Bringing in experts is expected to lead to more informed and effective policies that can enhance the overall competitiveness of Malaysia’s tourism sector. “Bring experts from AESTOM to advise and consult the tourism ministry, agencies, and tourism professional bodies on how to elevate the Malaysian tourism industry to be on par with global standards. “This strategic shift will uplift the industry and ensure that it contributes significantly to the national economy while preserving the cultural and natural heritage that attracts millions of visitors to Malaysia each year,” he said. Mirza held the post of director general of Tourism Malaysia (2006–2018). His tenure exposed him to various assignments, from planning, development, and project management to marketing, communication, and international promotions. He was also the regional director based in Germany and Japan and the general manager of Langkawi Island Resort and Tanjung Jara Beach Hotel. He was also the deputy commissioner general for the Malaysia Pavillion at World Expo 88 in Brisbane, Australia, vice president of the Association of National Tourist Office Representatives in Japan (ANTOR) Japan, and head of the marketing task force for ASEAN National Tourism Organizations and the Organisation of Islamic Cooperation (OIC) Tourism ministers meeting. Moving on, Mirza said Langkawi, like many global tourist destinations, is still recovering from the COVID-19 pandemic and striving to regain its position as a leading island getaway. He said the government and tourism industry leaders must take crucial steps to accelerate this recovery and attract more tourists to the island. “Key among these strategies is establishing a price control mechanism to ensure affordability and prevent price gouging, which can deter tourists from considering Langkawi as a destination. “This mechanism must be aimed to standardise prices across services and amenities on the island, including accommodation, dining, and local attractions, to enhance its appeal as a value-for-money destination. “Furthermore, a significant push must be made towards a more aggressive marketing and promotional strategy to spotlight Langkawi internationally. “Authorities must consider partnerships with foreign media outlets, bloggers, and social media influencers to generate buzz and highlight the island’s unique aspects. “By showcasing the island’s natural beauty, cultural richness, and unique tourist spots, these efforts are expected to draw a wider audience and boost visitor numbers,” Mirza said. He said these combined efforts are part of a broader strategy to recover the losses incurred during the pandemic and build a more resilient and appealing tourism sector for the future. “By implementing these targeted initiatives, Langkawi will re-establish itself as a top choice for domestic and international tourists, ensuring a steady growth in tourism inflows in the post-pandemic era,” Mirza said.  

News, Property

Serenia City’s First Commercial Hub ‘The Corak’ Reflects Sime Darby Property Allure with 100% Take-up Rate

/

ARA DAMANSARA: Sime Darby Property Berhad (“Sime Darby Property” or “Company”) celebrates a stellar 100% take-up rate for The Corak, a commercial space nestled within the vibrant Serenia City. Retail owners and smart investors jumped at the opportunity to be part of the township’s first freehold commercial hub scheduled for completion in 2027. Slated to become Serenia City’s maiden hangout spot, The Corak boasts a Gross Development Value (“GDV”) of RM186 million and is expected to elevate the township to become livelier and more convenient for its residents. In addition, the business hub is also projected to create ample job opportunities, contributing to the socio-economic developments of Serenia City. The Corak is in the heart of Serenia City, fronting the 32-acre Serenia City Central Park. The development offers 98 units of 2-storey shop offices and one drive-thru with built-ups spanning from 3,358 sq. ft. to 5,233 sq. ft. and selling prices ranging from RM1.7 million to RM3.3 million. It features a modern design with strategic signage placements, tall windows for cafe spaces, wide walkways for al-fresco dining, high ceilings for an inviting atmosphere, and 830 parking bays for patrons’ convenience. Sime Darby Property’s Chief Marketing and Sales Officer, Datuk Lai Shu Wei said that The Corak is designed to reshape the business landscape in Serenia City by providing retailers with efficient, tailored environments that directly support their business objectives. “The robust take-up rate reflects retailers’ confidence in Sime Darby Property, underscoring The Corak’s appeal as a prime destination catering to the needs of a growing cityscape,” he said. Datuk Lai added: “The business community trusts our dedication to creating a space specifically designed to meet their evolving needs. This commitment seamlessly aligns with Company’s Purpose to be a Value Multiplier for People, Businesses, Economies, and the Planet, and cultivating vibrant and enduring communities for generations.” Leveraging the business hub’s appeal to a dynamic demographic, business owners at The Corak can benefit from the population catchment of up to 500,000 within a 20-minute drive. The Corak is also conveniently located along Serenia City’s main road with three distributed access points for easy connectivity and can be reached via ELITE Highway, North-South Expressway (“NSE”) and Maju Expressway (“MEX”). For more information, please visit https://www.simedarbyproperty.com/serenia-city/the-corak/ or drop by Serenia City Sales Gallery.

Energy & Technology, News

M’sian Enterprises Urged to Make AI Top Priority

/

KUALA LUMPUR: Malaysian enterprises are encouraged to prioritise responsible artificial intelligence (AI) to fully tap into the potential benefits of generative AI and its innovations, according to the AI and analytics platform provider SAS Institute Inc. Its Regional Vice President and Head of Digital Transformation for Emerging Europe, Middle East and Africa (EMEA), Amir Sohrabi emphasised the importance of business leaders to prioritise responsible AI, whether they are already implementing AI use cases or are still in the planning phase. He said organisations need to recognise that ensuring responsible AI is a collective responsibility involving all stakeholders in an AI system. “(Effective) oversight must be spearheaded by the executive management team, focused on ensuring that responsible and trustworthy AI is a top priority across the board. “By closely monitoring and auditing AI operations, organisations can quickly identify and address any issues, thereby proactively mitigating concerns before they escalate,” Amir said. Citing a MyDigital report, he pointed out that generative AI has the potential to unlock US$113.4 billion (RM541.37 billion) in productive capacity in the Malaysian economy, equivalent to one-quarter of gross domestic product (GDP) in 2022. The Malaysian government has also planned to introduce a framework for governing AI and establishing ethical guidelines, given the increasing adoption of AI by various organisations. According to Amir, the regulations aim to promote innovation by creating a conducive environment, addressing risks and promoting ethical and responsible AI use. He further highlighted that responsible AI practices enhance human well-being, safeguard personal data and avoid discrimination. The foundation for such features lies in transparency and accountability, but unfortunately, many organisations deploying AI systems struggle to uphold these principles. “Taking proactive measures will not just reduce risks, but also enhance cyber resilience, ultimately positioning Malaysian organisations to thrive in the AI scene,” he said. — BERNAMA

Experts

Could AI Make the Four-Day Work Week a Reality?

/

While some fear the possible impact of Artificial Intelligence (AI) on jobs, there are upsides to leveraging AI in the workplace. Recent studies have found that AI could enable organisations to shift to a four-day work week. With cries for a healthier work-life balance reaching fever pitch among professionals in this age, AI has the potential to realise the dream of many. Employees are no longer content with merely punching the clock; they seek greater flexibility and autonomy in how they manage their time. This is reflected in a recent Tech.co study, ‘The Impact of Technology on the Workplace 2024 Report’, where remote teams face fewer recruitment roadblocks, with 44% of fully remote businesses finding it easy to recruit staff, compared to 32% of businesses with mandatory inoffice policies. The Role of AI in Workforce Optimisation At the heart of this transformation is the rise of AI technologies, which are revolutionising various aspects of business operations. From predictive analytics to task automation, AI is reshaping the way organisations allocate resources and manage workflows. Using AI-powered automation will improve an employee’s satisfaction in the workplace by automating repetitive, low-value tasks. It frees up employees to focus on other, more appealing and engaging undertakings that draw on their core competencies and human creativity. Leveraging AI for a Four-Day Work Week One of the most intriguing possibilities offered by AI is its potential to enable a four-day work week without sacrificing productivity. By automating routine tasks and optimising workloads, AI can help organisations accomplish more in less time. Work involving data analysis and writing has been proven to reap the most benefits out of AI integration in a company. With tasks like scheduling and calendar management next in the rank, AI is a tool that enables companies to cut short working time. Addressing Challenges and Concerns Of course, the transition to a four-day work week powered by AI is not without its challenges. Reluctance from stakeholders, resistance to change, and concerns about job displacement are legitimate considerations that must be addressed. However, it is important to understand that the deployment of technologies and automation will automatically eliminate jobs for humans, is a common misconception. A further look into automation processes would help us understand otherwise. The “job reduction” that AI is often associated with is more related to the reduction of repetitive and mundane tasks. Commonly, humans tend to make more mistakes when performing such tasks. Hence, adopting automation could reduce errors made in the process. In the long run, AI guarantees an increase in process efficiency, and improved quality, both leading to higher job satisfaction. Complementing AI As AI drives digital transformation forward, employees must also be ready to adapt and improve. Rather than simply serving machines, human workers must develop new skills that can effectively utilise and complement AI, resulting in improved outcomes. However, the transition to a four-day workweek in an AI-dominated business environment may not solely rely on automation. In-house support is crucial, and the acceptance of this unconventional idea will vary based on a company’s core mission and values. Rather than allowing AI to merely assist human work, some businesses might choose to automate certain tasks with AI while assigning additional responsibilities to employees to make use of the newly available time. Conclusion The prospect of a four-day work week powered by AI represents a tantalising glimpse into the future of work. By harnessing the capabilities of AI to optimise workflows, enhance productivity, and prioritise employee well-being, organisations can create a win-win scenario where both employees and employers thrive. As we continue to embrace the possibilities offered by AI technologies, let us envision a future where work is not just a means to an end but a source of fulfilment and balance in our lives. As the boundaries between work and personal life continue to blur, there’s a growing interest in alternative work arrangements that prioritise employee well-being without compromising organisational efficiency.

The Executives

Strategic Mining Leasing Expansion To Fuel MBG’s Growth Trajectory

/

KUALA LUMPUR: Meta Bright Group Bhd (MBG) expects to see positive earnings growth from its mining leasing business as the company plans to expand this segment further. Executive director Derek Phang Kiew Lim said the company plans to secure more leasing contracts and aims for this segment to represent about 25 per cent of MBG’s overall net profit within the next three years. “This strategic expansion is expected to bolster our earnings consistently and reduce revenue volatility, aligning with our long-term financial goals,” Phang told The Exchange Asia. Currently, MBG is managing three leasing contracts, one in Malaysia and two in Australia, and plans to continue expanding in this space, particularly the equipment leasing market in Australia, due to its established presence and the promising market outlook. “We are open to various industries as long as there is a demand for heavy machinery. We assess each potential lease based on the clients’ financial viability and specific machinery requirements. “The prospects for further expansion are substantial, given the robust growth of the mining industries in both countries,” Phang said. Recently, MBG made its foray into the international leasing business, particularly with the equipment leasing agreement with Mt Cuthbert Resources Pty Ltd, a copper mining company in Australia. Mt Cuthbert Resources is wholly owned by Dragon Field International Ltd. MBG executive director and major shareholder Datuk Kelvin Lee Wai Mun holds an indirect aggregate interest of approximately 40.2 per cent in Mt Cuthbert Resources through Dragon Field International. Phang said Australia’s mining industry, which includes a wide range of minerals from iron ore to copper, has seen a significant increase in exploration income, expected to reach AUD$5.7 billion by 2025. Similarly, Malaysia’s mining output is also on an upward trajectory and is forecasted to grow further, reaching RM12.8 billion by 2025. He said this growth is driven by increasing local and international demand for minerals, critical raw materials for the manufacturing and construction industries. “Our focus will remain on industries that require heavy and light machinery, typical in the mining, construction, and manufacturing sectors. “The equipment leasing market itself is witnessing strong growth, with the industry in Australia expected to expand to US$1.9 billion and in Malaysia to RM3.1 billion by 2025. “This growth presents a strategic opportunity for MBG to leverage its capabilities in these burgeoning markets. “The potential for expansion is aligned with increasing global demands and the strategic need for companies in these sectors to manage capital expenditure effectively by opting for operational leasing solutions,” Phang elaborated. He said the monthly recurring revenue of AUD$259,000 from its leasing agreement with Mt Cuthbert Resources translates to approximately RM795,844 per month to MBG’s overall revenue stream. With a net profit margin of at least 26 per cent, Phang said this figure might not seem significant compared to the company’s net profit of RM3 million in the second half of FY24. “Still, it’s essential to recognise the stability and low risk associated with this income. The recurring nature of this revenue is precious, providing a steady cash flow that enhances our financial strength,” he said. When asked about other aspects of MBG’s growth and stability that will be interesting to watch in 2024, Phang said one key focus would be the company’s building materials division, which would leverage the acquisition of Expogaya Sdn Bhd to capitalise on infrastructure and building development opportunities in East Malaysia, particularly Sabah and Sarawak. To recap, in February 2024, MBG acquired a 70 percent stake in Expogaya, a leader in ready-mix concrete manufacturing. This strategic move is expected to drive recurring income as the acquisition comes with an aggregate profit guarantee of RM30 million over five years. “The acquisition of Expogaya opens new revenue streams in the building materials market, especially given the promising infrastructure and construction developments in East Malaysia. “This as the country is witnessing significant investments in critical infrastructure projects such as the Pan Borneo Highway, which aims to enhance connectivity and spur economic growth across Sabah and Sarawak,” Phang said. He said with the construction industry in Malaysia projected to thrive, reaching a market size of US$38.55 billion in 2024 and expected to expand at a compound annual growth rate (CAGR) of 8.55 per cent to reach US$58.10 billion by 2029, MBG’s position through Expogaya is strategically set to capitalise on the increased demand for building materials. Additionally, Phang said MBG is set to enhance its solar energy sector, mainly targeting the commercial and industrial (C&I) and government buildings segments. He said this niche market holds significant potential for growth, and the company plans to engage in more joint ventures and collaborations to expand its footprint in this area. “We are also in the midst of evaluating the recently announced large-scale solar (LSS5) packages. “Our leasing and financing division is also expected to grow, with plans to finalise a third significant leasing agreement that mirrors the successful structure of our previous contracts. “This involves MBG financing equipment purchases, which are then leased back to operational owners,” Phang said. Moreover, given MBG’s recurring solid cash flow, the company is well-positioned to pursue further mergers and acquisitions throughout the years. “This strategic capability allows us to continuously strengthen our market position and enhance shareholder value through targeted strategic expansions,” he said.

ESG, News

Measures Involving Trade and ESG Must Be Fair to Developing Countries – Tengku Zafrul

/

KUALA LUMPUR: Malaysia believes there is a need to revisit commitments to sustainable development, efficient global recourse and fair and balanced trade among countries, said the Ministry of Investment, Trade and Industry (MITI). Its minister Tengku Datuk Seri Zafrul Abdul Aziz said countries must have shared values which will result in trade policies that can contribute to equitable and sustainable development. “However, this should not be used as non-tariff measures to restrict trade flows. The proliferation of trade-related environmental measures such as the threat of environmental, social and governance (ESG) by developed countries is among the most important aspects of international trade,” Tengku Zafrul said during a meeting at the World Economic Forum held in Riyadh, Saudi Arabia. Tengku Zafrul said the proliferation of trade-related measures has emerged as potential protectionist tools that could unfairly discourage global production and trade, particularly to developing countries. “These measures can manifest as border instruments and compliance but they will undoubtedly be complicated and perhaps too costly for most developing country exporters,” he added. Tengku Zafrul stressed that leaving the matter unattended could potentially erode developing and least developing countries’ trade competitiveness and investment attractiveness. Citing a report by the World Trade Organisation, he highlighted that environmental goods and services face an average tariff of 4.3% along with numerous non-tariff measures. “The cost of compliance, including certification, can be prohibitively expensive, especially for small and medium enterprises from developing nations. “Such barriers necessitate a collaborative approach where developed countries not only impose these standards but also facilitate the means for compliance through technical and financial support,” he added. Tengku Zafrul went on to say that in light of the complexities posed by ESG standards as non-tariff barriers and the significant need for capacity building and fair trade policies, a comprehensive approach is essential to ensure both environmental sustainability and economic justice, particularly for developing nations. “Therefore, Malaysia supports and welcomes discussions on establishing effective multilateral rules on trade and sustainable development. “Our commitment is evident through initiatives such as the New Investment Policy, New Industrial Master Plan 2023, National Energy Transition Roadmap and the ESG Industry Framework, which are all aimed at achieving sustainable economic growth,” he said. — BERNAMA

News

Naver Consulted by South Korea for Stake Divestment Decision

/

SEOUL: South Korea will consult with Naver following media reports that the domestic Internet company faced pressure from Japan to divest from a venture. South Korea asserts that its companies should not experience discrimination. The South Korean foreign ministry responded to a Kyodo news agency report, stating that Japan’s SoftBank Group was discussing purchasing shares of LY Corp from Naver, allegedly under administrative guidance from Japan’s internal affairs and communications ministry due to a data leak last year.   In a statement, the ministry affirmed, “The South Korean government firmly opposes discriminatory measures against our companies. We will ascertain Naver’s stance on the matter and engage with Japan’s side as necessary.”   LY Corp, majority owned by A Holdings—a joint venture of SoftBank and Naver—operates Line, a popular messaging app in Japan and across Asia.   The report raised concerns in South Korea about potential political interference, prompting two incoming lawmakers from the Rebuilding Korea Party to call for “strong action”.   Japan’s internal affairs and communications ministry and SoftBank Group did not immediately respond to Reuters’ requests for comment. — REUTERS

Investment & Market Trends, News

Malaysian Trade Industry on the Rise as of March 2024, Up 5% From 2023

/

KUALA LUMPUR: Malaysia’s total trade for March 2024 amounted to RM244.5 billion with exports and imports recorded RM128.6 billion and RM115.8 billion, respectively as reported by the Department of Statistics (DOSM). The total amount of trade has increased 5% year-on-year compared to RM232.7 billion in March 2023. Chief Statistician Malaysia Dato’ Sri Dr Mohd Uzir Mahidin said exports were valued at RM128.6 billion in March 2024 decreased RM1 billion (-0.8%) as compared to the same month of the previous year. The decrease in exports was attributed to the lower exports in most states such as Selangor (-RM2.1 billion), WP Labuan (-RM1.6 billion), Melaka (-RM686.2 million), Sabah (-RM443.8 million), Sarawak (-RM260.9 million), Pulau Pinang (-RM129.8 million), Negeri Sembilan (-RM118.5 million), Johor (-RM44.6 million) and Perlis (-RM27 million). However, exports increased in Perak by RM1.5 billion, WP Kuala Lumpur (+RM1.3 billion), Terengganu (+RM929.9 million), Pahang (+RM522 million), Kedah (+RM151.7 million) and Kelantan (+RM36.2 million). Pulau Pinang remained as the top exporter with 32% share, followed by Johor (20%), Selangor (16.9%), Sarawak (8.1%) and WP Kuala Lumpur (4.5%). Looking at the performance of imports by state, Mohd Uzir said imports in March 2024 increased RM12.9 billion (+12.5%) as compared to the same month in 2023. The increase in imports was attributed to the higher imports in most states such as Johor (+RM8.2 billion), Melaka (+RM1.6 billion), Negeri Sembilan (+RM1.2 billion), WP Kuala Lumpur (+RM1 billion), Selangor (+RM996.7 million), Kedah (+RM419.7 million), Pahang (+RM152.6 million), Terengganu (+RM92.1 million), Kelantan (+RM71 million), Sabah (+RM55.5 million) and WP Labuan (+RM30.3 million). However, imports decreased in Pulau Pinang by RM521.9 million, Perak (-RM393.8 million), Sarawak (-RM115.9 million) and Perlis (-RM6.8 million). Johor dominates Malaysia’s imports with a share of 27.9%, followed by Selangor (23.6%), Pulau Pinang (19.2%), WP Kuala Lumpur (7.5%) and Kedah (5%).

Energy & Technology, ESG

Nornickel Develops Palladium Solutions to Address Environmental Challenges

/

BANGKOK: Mining and smelting company Nornickel is developing innovative palladium solutions to address key climate challenges in the Asia Pacific region. The solutions include improving water treatment for over 2 billion people, facilitating the implementation of green energy projects, reducing harmful emissions and optimising the transition to biodegradable packaging. For this, Nornickel has allocated a total of US$100 million to be used for research and development of palladium applications by the end of 2030. Currently, water that has been disinfected with chlorine poses significant environmental risks in its production, transport and storage. A palladium alloy catalyst combined with electrolysis technology allows the disinfectant to be produced close to the water supply, reducing environmental risks. “Palladium is a critical mineral for the future, especially for hydrogen and solar energy projects. “Palladium-based catalysts in the hydrogen energy sector show efficiency gains at every stage of the production chain, from the extraction of hydrogen from water through electrolysis, to its transport and even in the fuel cell itself. In the solar energy industry, palladium chalcogenide can be used to make highly efficient photovoltaic (PV) cells,” said Norilsk Nickel Palladium Centre’s Head Dmity Izotov. The key raw material for the production of biodegradable packaging is currently glycolic acid, which is derived from formaldehyde, a dangerous carcinogen. The new palladium-based catalyst eliminates the need for carcinogenic formaldehyde and provides better raw material yields. Palladium technology not only helps manufacturers meet increasingly stringent environmental regulations but also reduces production costs and improves safety. “In the era of global digitalisation, technologies such as neural networks, big data analysis and machine learning play an important role in accelerating processes. Nornickel is actively using digital technologies to model and predict the structures and properties of materials. “Tight international cooperation in the development of digital technologies is needed at all levels and is crucial to accelerate the adoption of green technologies and achieve sustainable development goals. The Palladium Technology Centre is poised to act as a pilot site for testing new digital tools,” said Dmitry. Palladium is widely recognised around the world for its significant role in resolving environmental challenges. It is already being actively used in the automotive industry to develop emission control systems. Palladium is highly catalytic, hydrogen-permeable and when combined with other elements, has good optical properties. This gives palladium enormous potential to improve the performance of green technologies and make them cheaper to implement.

Energy & Technology, News

STDCx Enters Partnership with Orangeleaf, Mendix to Foster Tech Advancement in Selangor

/

HANOVER, GERMANY: The Selangor government’s technical professional development centre, Selangor Technical Skills Development Centre (STDCx) and globally renowned low-code application development platform, Mendix signed a Memorandum of Understanding (MoU) with Orangeleaf Consulting, the leading low-code consultancy in Malaysia. The event took place at the Hannover Messe 2024 trade show in Germany, which is the world’s largest industrial technology exhibition where companies from the energy, digital, and mechanical and electrical engineering sectors gathered to map solutions for the future of energy supply and manufacturing. With topics exhibited including digitalisation, artificial intelligence and machine learning, the strategic partnership between STDCx, Orangeleaf Consulting and Mendix aims to foster technological advancement with Mendix’s low-code, nurture local talent, and promote digital transformation initiatives within these industries in Selangor, Malaysia. In tabling the 2024 Selangor State Budget in November 2023, Chief Minister YAB Dato’ Seri Amirudin Shari committed RM13.85 million to elevate the role of technical and vocational education in Selangor to a higher level. Additionally, Mendix’s low-code platform was catapulted into the Parliament’s spotlight as the cutting-edge technology set to transform the state’s technological development. During the event, Selangor Chief Minister Dato’ Seri Amirudin Shari said, “What sets Mendix apart as a low-code platform is its speed to market as opposed to the traditional form of coding.” According to Amirudin, those who do not have a coding background can also rapidly adapt to Mendix’s low-code and seamlessly develop software that caters to an organisation’s needs. Therefore, the partnership aligns with Selangor’s mission to promote technological advancement, reduce the digital divide, and further increase economic growth in the state. “We are committed to collaborating closely with Mendix and other stakeholders to maximise the benefits of this partnership. “This understanding with Orangeleaf Consulting is a testament to our commitment and we intend to invite similar partnerships with interested parties in this rapidly growing space of the digital economy,” he added. Meanwhile, Orangeleaf Consulting Chief Executive Officer and Co-founder Ellice Ng Pui San said, “We are happy to be recognised as the sole consultancy in Malaysia that will be working closely with the STDCx to equip the workforce with Mendix’s low-code technology that is needed to thrive in this vibrant digital economy.” Ellice also mentioned that there is great potential in the talent pool development in Malaysia, and low-code can play an important role in raising tech talent to compete locally and globally. “Low-code transforms the way programmers develop systems and applications by enabling business users and tech individuals with different technical levels to build applications quickly and efficiently, utilising a visual interface through the Mendix platform. “Thus far, we have successfully groomed local tech talents to support businesses globally, especially with the rise of low-code solutions from various industry sectors,” she added. With over 296,656 members, the Mendix low-code community is all across the globe. The global low-code platform market revenue is valued at almost US$22.5 billion in 2022 and is forecast to reach approximately US$32 billion in 2024.

Icon-facebook Icon-instagram-1 Linkedin
  • Sitemap

Copyright © 2024 The Exchange Asia. All rights reserved. Powered by Web Design Malaysia.

Scroll to Top

Subscribe
FREE Newsletter