Dec: The Indian-ASEAN Startup Summit (IASS) has recently kicked off the two-day 'India-Malaysia Startup Bridge', aiming to boost bilateral ties and attract investments of RM500 million into Malaysia's startup ecosystem. The substantial investment is expected to flow directly or through strategic partnerships between Malaysia and India. IASS Chair Datin Malliga Subramaniam said the anticipated RM500 million investments will be a testament to immense faith in the collaborative potential of the India-Malaysia startup landscape. She said that with over 600 startups participating, IASS is not just a gathering but a melting pot of ideas and opportunities. It is a platform where cross-border collaboration is encouraged and actively facilitated, she added.
NVIDIA to Partner Malaysia’s YTL Power in US$4.3 Billion AI Development Project
Dec: YTL's utility unit will partner with US technology giant NVIDIA to develop AI infrastructure in Malaysia in a $4.3 billion investment deal. The first phase is expected to be operational by mid-2024, YTL Power International said in a statement on Friday. Reuters reported earlier, citing sources, that NVIDIA and YTL were in advanced talks to partner over AI infrastructure, including supercomputers and cloud computing, with the project to be hosted at a data centre in Johor. Under the deal, the companies will collaborate on building Malaysia's fastest supercomputers using NVIDIA AI chips and with YTL Power International also utilising NVIDIA's AI cloud computing platform to build a large language model in Bahasa Malaysia, YTL Power said. The announcement confirmed the project would be hosted at YTL's data centre park in Kulai, Johor.
Malaysia May Emerge as ASEAN Hub
Dec: Market insiders have stated that Malaysia stands as the top destination in Southeast Asia for electricity-guzzling data centre investment, with a raft of new and emerging investments that will hit nearly 1,000 megawatts (MW) in five years. From just 113MW of take-up in 2022, the capacity is expected to hit more than 900MW in phases over the next five years due to lower land, energy and labour costs compared to Singapore, they added. So far, six new data centres have been completed, which will consume about 292MW of electricity, Kenanga Research analyst Teh Kian Yeong wrote. The analyst said that Tenaga Nasional Bhd had signed electricity supply agreements with eight data centres for 2,000MW, adding that a total demand of 7,000MW of electricity from data centres was expected by 2035.
MDX 2023: Pivot to Digital Requires Shift in Tech, Mindset and Policy
Today, various tech platforms have emerged as communication tools and a catalyst for driving digital transformation within the public sector and education. Zoom Head of Asia-Pacific Ricky Kapur highlighted the significant shift towards advanced digital solutions in governance and educational systems, a trend that is rapidly gaining momentum globally. He spoke at the Malaysia Digital Expo (MDX) 2023 launched by Prime Minister YAB Dato' Seri Anwar Bin Ibrahim on November 6. Ricky’s observations, especially in dynamic regions like India, Singapore and Malaysia, reflect a growing trend in government interest in technological advancements. He said the increasing adoption of various tech platforms for diverse applications went beyond traditional communication needs and into areas such as the legal system, with hybrid courts becoming common. In healthcare, telehealth services have become almost mainstream during the pandemic.
Taiwan to Recognise Bitcoin as a Legal Tender
Nov: Taiwan has announced its intention to recognise Bitcoin (BTC) as a legal tender. This bold move, the first of its kind in Asia, will impact the global crypto market greatly and spark conversations about the future of digital currencies in the region. Taiwan, a nation known for its technological innovation and progressive outlook, is taking significant strides concerning crypto regulation. On October 27, Taiwan’s legislative body formally proposed a draft crypto act for discussion. If this draft is passed into law, it could take effect as soon as next year, ushering in a new era of regulatory clarity in digital assets. The proposed crypto act was approved at the first reading in Taiwan’s Parliament, known as the Yuan. The new regulations are aimed at addressing various challenges, including concerns about money laundering and consumer protection.