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BANGKOK, Aug. 17, 2022 /PRNewswire/ -- Thai and foreign companies filed a total of 784 applications for investment promotion during the first six months of 2022, an increase of 4% from the year earlier period, while the combined investment value of 219.7 billion baht (US$ 6.2 billion). Investment applications in target industries accounted for 70% of total investment value in the first half, with 358 projects worth a combined 153.5 billion baht. Thailand Board of Investment (BOI) Secretary General Ms. Duangjai Asawachintachit announced today after a Board meeting the approval of incentives to promote investment in the high-precision machinery industry, and reported that applications for investment promotion filed during the first half of 2022 amounted to a combined value of 219.7 billion baht (US$ 6.2 billion). The automotive and digital sectors saw the highest growth rates during the six-month period, Ms Duangjai said. EV applications also contributed to place the automotive sector on top in terms of investment value with a combined 42.4 billion baht, an increase of 212% over the year earlier period. Meanwhile, the value of investment applications in the digital sector grew by 202% to 1.45 billion baht. During the first half, 395 projects were foreign direct investment (FDI) applications with a combined value of more than 130 billion baht. Taiwan was the main source of FDI applications during the period with 19 projects, worth a combined 38.5 billion baht, accounting for 30% of FDI project value. Next came Japan, mainland China, the US and Singapore, with investment value of 16.9 billion baht, 15.5 billion baht, 11.3 billion baht and 8.7 billion baht respectively. In terms of investment locations, Thailand's Eastern Economic Corridor (EEC), Thailand's prime industrial area, continued to attract the biggest chunk of applications with a total of 217 project worth over 104.9 billion baht. Investment applications for productivity enhancement incentives continued to grow, particularly those investing in in-house renewable energy production and the use of automation systems, in line with the global sustainability trend which focuses on reducing effects on climate change. "Though the global economic outlook faced increased challenges in the first half of the year, we will continue to monitor the situation and adjust our policies and incentives to ensure Thailand remains the resilient destination of choice for global investors in fast growing sectors such as electric vehicles," BOI Secretary General Ms. Duangjai Asawachintachit told reporters after a board meeting. Incentives to further support high-tech industries The Board approved the addition of new BOI categories with attractive incentives to support the use of new technologies, namely manufacture and repair of high-precision machinery, equipment and parts (8-year CIT exemption), additive manufacturing (5-year CIT exemption), and production of electronics parts using microtechnology (8-year CIT exemption). "These new categories will help enhance Thailand's attractiveness as a location for the high-precision machinery industry which has experienced a high growth recently and will also support the growing demand for micro parts and the move towards additive manufacturing", Ms. Duangjai said. Relaxation of feasibility study requirements As part of BOI's efforts in facilitating BOI application process, the Board has approved the relaxed threshold for feasibility studies to be submitted along with BOI applications. Following the relaxation, feasibility studies will only be required for projects with an investment value of 2.0 billion baht or more (excluding the cost of land and working capital), compared to 750 million baht previously. "This change aims at further streamlining BOI application process and reducing transaction costs for investors", Ms. Duangjai said. Project approvals The BOI board meeting held today approved applications worth a total of 44.5 billion baht, as per the following details: - A Chinese investment project received approval for a 17.9 billion baht investment to produce battery electric vehicles (BEV) as well as plug-in hybrid electric vehicles (PHEV) in Rayong province, in the EEC area. - PTT PCL received approval for a 18 billion baht investment in a natural gas production project located at Map Ta Phut Industrial Estate in Rayong Province - Two companies, namely Santi Bhum Co., Ltd. and Thitti Bhum Co., Ltd., received approvals for investments of 4.3 billion baht each in container ships. For more information, please contact:Thailand Board of InvestmentTel. +66 (0) 2553 8111Website: www.boi.go.thYouTube: Think Asia, Invest Thailand
Headlined by Spackman Media Group artist Kim Sang-kyung, POONG, THE JOSEON PSYCHIATRIST surpassed its own highest viewership records, securing the top spot for its time slot across all TV channels in Korea The tvN K-drama recorded an average viewership rating of 5.0% to 5.9% for households nationwide for its latest episode aired on August 16, as compared to the broadcaster's average viewership rating of 2.2% to 2.6% Previously, Kim Sang-kyung starred in AIR MURDER, which was co-produced by the Group's indirectly wholly-owned subsidiary Platform Media Group and was the #1 Korean film at its opening weekend box office in Korea SINGAPORE - Media OutReach - 17 August 2022 - Spackman Entertainment Group Limited (the "Group"), one of Korea's leading entertainment production groups founded in 2011 by media & technology investor Charles Spackman, wishes to announce that the tvN K-drama, POONG, THE JOSEON PSYCHIATRIST, headlined by veteran actor Kim Sang-kyung of Spackman Media Group Limited ("Spackman Media Group"), broke its own highest viewership records, taking the top spot for its time slot across all TV channels in Korea. The latest episode of Kim Sang-kyung's latest K-drama, POONG, THE JOSEON PSYCHIATRIST, posted an average viewership rating of 5.0% to 5.9% for households nationwide on August 16, as compared to the broadcaster's average viewership rating of 2.2% to 2.6%, based on Nielson Korea, an audience rating research company. The solid performance of POONG, THE JOSEON PSYCHIATRIST underscores the star power of Kim Sang-kyung, who previously starred in Korean film AIR MURDER, which was co-produced by the Group's indirect wholly-owned subsidiary, Platform Media Group Co., Ltd. and was ranked as the top Korean film at its first weekend box office in Korea. POONG, THE JOSEON PSYCHIATRIST is based on the novel of the same name that won the Excellence Award in the 2016 Korea Story Contest. Directed by Park Won-gook, written by Park Seul-gi, Choi Min-ho & Lee Bom, and produced by Studio Dragon, the Joseon era drama depicts the redemption of a disgraced royal physician who becomes a well-respected psychiatrist in a small village. Along with Kim Sang-kyung, POONG, THE JOSEON PSYCHIATRIST features Kim Min-jae of DALI AND COCKY PRINCE (2021) and Kim Hyang-gi of ALONG WITH THE GODS (2017-2018). Previously, Kim Sang-kyung of Spackman Media Group starred in SBS drama RACKET BOY BAND (2021), which was released on Netflix & SBS. He also starred in tvN's and Netflix's THE CROWNED CLOWN (2019). Kim Sang-kyung won the Jury Special Award for his role in THE DISCLOSER (2017) at the 38th Golden Cinematography Awards. He is widely known for his leading roles in MEMORIES OF MURDER (2003), directed by Bong Joon-ho of PARASITE (2019) and the Group's 2013 US production SNOWPIERCER. Kim Sang-kyung won the Jury Special Award at the 38th Golden Cinematography Awards in 2018 and the Excellence Award & Netizen Award at the 2014 KBS Drama Awards. Hashtag: #SpackmanEntertainmentGroup About Spackman Entertainment Group LimitedSpackman Entertainment Group Limited ("SEGL" or the "Company"), and together with its subsidiaries, (the "Group"), is one of Korea's leading entertainment production groups. SEGL is primarily engaged in the independent development, production, presentation, and financing of theatrical motion pictures in Korea. The Company was founded in 2011 by renowned media and technology investor Charles Spackman who served as the Company's Executive Chairman until 2017. For the past two decades, Mr. Charles Spackman has been a powerhouse in the Korean entertainment industry starting in the early 2000's with the pioneering success of Sidus Pictures, the largest movie production company at the time and the first to be listed in Korea. Mr. Spackman is also the Founder, Chairman and Chief Executive Officer of the global investment firm, Spackman Group. For more information, please visit http://www.charlesspackman.com and https://spackman-group.com/charles-spackman. Since its founding, SEGL had produced more than 30 major motion pictures including a number of the highest grossing and award-winning films in Korea, namely #ALIVE (2020), CRAZY ROMANCE (2019), DEFAULT (2018), MASTER (2016), THE PRIESTS (2015), SNOWPIERCER (2013), COLD EYES (2013) and ALL ABOUT MY WIFE (2012). Our films are theatrically distributed and released in Korea and overseas markets, as well as for subsequent post-theatrical worldwide release in other forms of media, including online streaming, cable TV, broadcast TV, IPTV, video-on-demand, and home video/DVD, etc. Generally, we release our motion pictures into wide-theatrical exhibition initially in Korea, and then in overseas and ancillary markets. The Group also invests into and produces Korean television dramas. In addition to our content business, we also own equity stakes in entertainment-related companies and film funds that can financially and strategically complement our existing core operations. SEGL is listed on the Catalist of the Singapore Exchange Securities Trading Limited under the ticker 40E. Production Labels SEGL owns Novus Mediacorp Co., Ltd. ("Novus Mediacorp"), an investor, presenter, and/or post-theatrical distributor for a total of 79 films (58 Korean and 21 foreign) including ROSE OF BETRAYAL, THE OUTLAWS and SECRETLY, GREATLY, which was one of the biggest box office hits of 2013 starring Kim Soo-hyun of MY LOVE FROM THE STARS, as well as FRIEND 2: THE GREAT LEGACY. In 2012, Novus Mediacorp was also the post-theatrical rights distributor of ALL ABOUT MY WIFE, a top-grossing romantic comedy produced by Zip Cinema. In 2018, THE OUTLAWS, co-presented by Novus Mediacorp broke the all-time highest Video On Demand ("VOD") sales records in Korea. For more information, please visit http://novusmediacorp.com The Company owns a 100% equity interest in Simplex Films Limited ("Simplex Films") which is an early stage film production firm. The maiden film of Simplex Films, JESTERS: THE GAME CHANGERS (2019), was released in Korea on 21 August 2019. Simplex Films has several line-up of films including HURRICANE BROTHERS (working title). The Company owns a 100% equity interest in Take Pictures Pte. Ltd. ("Take Pictures") which produced STONE SKIPPING (2020) and THE BOX (2021), and shall release THE GUEST in the second half of 2022 and A MAN OF REASON, with the previous working title GUARDIAN in 2022 tentatively. The Company owns a 100% equity interest in Greenlight Content Limited ("Greenlight Content") which is mainly involved in the business of investing into dramas and movies, as well as providing consulting services for the production of Korean content. Through the acquisition of Greenlight Content, the Group's first co-produced drama, MY SECRET TERRIUS, starring top Korean star, So Ji Sub, achieved #1 in drama viewership ratings for its time slot and recorded double digits for its highest viewership ratings. Greenlight Content was one of the main investors of MY SECRET TERRIUS. The Company owns a 20% equity interest in The Makers Studio Co. Ltd., which plans to produce and release four upcoming films, the first of which will be THE ISLAND OF THE GHOST'S WAIL, a comedy horror film. Talent Representation The Company holds an effective shareholding interest of 43.88% in Spackman Media Group Limited ("SMGL"). SMGL, a company incorporated in Hong Kong, together with its subsidiaries, is collectively one of the largest entertainment talent agencies in Korea in terms of the number of artists under management, including some of the top names in the Korean entertainment industry. SMGL operates its talent management business through renowned agencies such as MSteam Entertainment Co., Ltd. (Son Ye-jin, Wi Ha-jun, Lee Min-jung, Ko Sung-hee), SBD Entertainment Inc. (Son Suk-ku, Han Ji-hyun, Lee Cho-hee, Park Keun-rok), UAA&CO Inc. (Kim Sang-kyung, Kim Hye-ri, Kim Ji-young, Wang Ji-won), Play Content Co., Ltd. (Kang Min-ji, Hwang-hwi) and Kook Entertainment Co., Ltd. (Baek Si-won, Shin Ji-woong). Through these full-service talent agencies in Korea, SMGL represents and guides the professional careers of a leading roster of award-winning actors/actresses in the practice areas of motion pictures, television, commercial endorsements, and branded entertainment. SMGL leverages its unparalleled portfolio of artists as a platform to develop, produce, finance and own the highest quality of entertainment content projects, including theatrical motion pictures, variety shows and TV dramas. This platform also creates and derives opportunities for SMGL to make strategic investments in development stage businesses that can collaborate with SMGL artists. SMGL is an associated company of the Company. For more information, please visit http://www.spackmanmediagroup.com The Company owns a 100% equity interest in Constellation Agency Pte. Ltd. ("Constellation Agency"). Constellation Agency, which owns The P Factory Co., Ltd. ("The P Factory") and Platform Media Group Co., Ltd. ("PMG"), is primarily involved in the business of overseas agency for Korean artists venturing into the overseas market. The P Factory is an innovative marketing solutions provider specializing in event and branded content production. PMG is a talent management agency which represents and manages the careers of major artists in film, television, commercial endorsements and branded entertainment. Strategic Businesses The Company also operates a café-restaurant, Upper West, in the Gangnam district of Seoul and own a professional photography studio, noon pictures Co., Ltd. For more details, please visit http://www.spackmanentertainmentgroup.com/
Study further found 79% of consumers in Asia Pacific want digital identity systemSINGAPORE - Media OutReach - 16 August 2022 - Callsign, the digital identity pioneer, has released a report quantifying for the first time the value of digital trust to society and the economy. The research reveals the potential to build growth during the current global economic slowdown with a five percentage point increase in digital trust resulting in an average increase in GDP per capita of US$3,000. The findings are revealed in The Digital Trust Index: The value of digital trust Report, which is seminal research, conducted by Callsign, the digital trust pioneer, and the Centre for Economics and Business Research (Cebr), into the attitudes and drivers of digital trust across modern economies. The findings are significant if the global economy tips into recession because investing in building digital trust into digital economies has the potential to deliver growth and productivity. From a global total of 12,500 respondents, 2,500 came from Hong Kong, India, Indonesia, the Philippines, and Singapore. "This Callsign research reveals the value of building digital trust to the global economy, and reflects the conversations and enquires we are engaging in. Organizations across the globe are looking at digital identity as the foundation to their digital ecosystem– delivering trusted interactions for consumer-to-business as well as business-to-business interactions. The research also demonstrates the negative impact if the industry doesn't take proactive measures to address consumers' building lack of digital trust," says Julie Conroy, Head of Risk Insights at Aite-Novarica Group. This increase in digital trust in Asia Pacific means a potentially significant increase to the size of the economy in the region. Critical to improving digital trust is the deployment of a regulated digital identity system. Individual market GDP data points for APAC: 1% increase in digital trust impact on GDP 5% increase in digital trust impact on GDP Singapore US$3.4bn US$17bn Indonesia US$161bn US$807bn Philippines US$65bn US$322bn Emerging digital trust gap The report also found a 'digital trust gap' is emerging around the world. For APAC, the study found a positive digital trust gap, where digital trust is higher than societal trust. Analysis found APAC markets have a positive digital trust gap of 5% while Western markets such as the US (-4%) had a negative trust gap (societal trust was higher than digital). This demonstrates that consumers in Asia Pacific have more trust in the digital economy than Western counterparts, offering potential economic advantage. 35% of APAC consumers surveyed claimed to have been affected by online fraud or a data breach which impacts their trust in online services. Rapidly growing digital economy needs a regulated digital identity system The digital economy is expected to grow to US$20.8 trillion* by 2025, while the cost of online crime to US$10.5 trillion. With the rise in digital and online crime, 53% of APAC consumers expect governments to create a more secure digital world. 79% of APAC respondents support the creation of a digital identity system with almost a third saying banks and financial institutions are best placed to create and maintain the system. Expectations in APAC of the deployment of a digital identity system quickly were much higher than other regions. 37% expect it to be rolled out in the next 12 months. Namrata Jolly, General Manager Callsign, APAC said, "The opportunity in APAC from enhancing digital trust through digital identity is real and tangible. Consumers want and expect it to be part of their lives now. Their confidence in online experiences has improved in the last two years, which is the opposite response from consumers in Western markets. This puts APAC at a real economic advantage as their levels of digital trust exceed societal trust. In the global digital economy, APAC appears poised to capitalise on the growth through the deployment of a secure and trusted digital identity system." To see the full Digital Trust Index report, visit https://www.callsign.com/digital-trust-index. Hashtag: #CallsignThe issuer is solely responsible for the content of this announcement.About Callsign Callsign is pioneering digital trust through proprietary technology that uniquely mimics the way humans identify each other in the real world. Positive identification of genuine users delivers privacy, safety and minimal friction whilst ensuring that bad actors are blocked. Through a simple Swipe or Type, users can be personally recognized to a 99.999% accuracy, delivering the highest-fidelity AI-based user recognition for the digital world. To learn more about how this technology is used to underpin digital trust across financial institutions, governments and commerce globally visit: https://www.callsign.com/ About The Centre for Economics and Business Research (Cebr)The Centre for Economics and Business Research (Cebr) is an independent consultancy with a reputation for sound business advice based on thorough and insightful research. Since 1992, Cebr has been at the forefront of business and public interest research. They provide analysis, forecasts and strategic advice to major UK and multinational companies, financial institutions, government departments and agencies and trade bodies. For further information about Cebr please visit www.cebr.com. Notes: The methodology for this report involved conducting a survey to measure levels of trust in online and digital services across nine key regional markets. As part of the report, further questions were asked about trust in the wider society to be able to analyse differences and common trends. APAC: 2,500 = Hong Kong 500, Singapore 500, Indonesia 500, India 500 and the Philippines 500 Brazil: 1,000 Canada: 2,000 Middle East: 2,000 (UAE 500, Kingdom of Saudi Arabia 500, Qatar 500, and Bahrain 500) Nordics: 500 South Africa: 1,000 UK: 1,000 USA: 2,000 Footnotes *In December 2021, the Global GDP estimate was US $94 trillion ( Visual Capitalist) with the World Bank estimating that 15.5% of Global GDP in 2021 was the digital economy, meaning US $14.5 trillion. The World Bank also estimates that over the past 15 years, the digital economy has grown 2.5x quicker than the Global GDP . To calculate the value of the digital economy in 2025, we averaged global growth forecasts for 2022 from the IMF, World Bank and Fitch Ratings, which equalled 3.73%. Given that the digital economy grows 2.5x quicker than Global GDP, the digital economy's growth rate for 2022 was 9.33%. Compounding this growth until 2025 meant that the digital economy would be worth US $20.8 trillion, while the Global GDP would be US $108.9 trillion. Therefore, the digital economy would account for 19.13% of Global GDP in 2025 an increase of 3.63% over 2021. Given the current macroeconomic context these are clearly projections, which assume that the economy will continue to grow through 2025 with a significant economic downturn. Additionally, the value of the digital economy may in fact be a greater percentage of the Global GDP in years to come as our economy continues to benefit from digital innovation and more humans getting access and begin contributing to the digital economy. The above analysis was conducted by Callsign Corporate Strategy team.
Simulate the management of a burger shop with Play & Earn SINGAPORE, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Singapore-based global GameFi platform company, Digital Entertainment Asset Pte. Ltd. (DEA), announced the launch of its new blockchain game "Cookin' Burger", open beta version on its PlayMining platform today on Monday, August 15, 2022 at 14:00 (UTC＋8). "Cookin' Burger" is a multi-tasking cooking game in which you, as a staff member at a burger shop, take orders from various customers and serve them burgers quickly and accurately. Despite its simplicity of the game, the players can simulate the experience of running a real burger shop, using techniques such as learning customer preferences and figuring out the most efficient cooking orders. In the upcoming official launch of "Cookin' Burger", we will offer ranking rewards based on the rankings, as well as a variety of additional features, so please stay tuned. DEA will continue to enhance the game titles on PlayMining in order to provide "fun" and "surprise" through various contents to users around the world. ▼Click here to play "Cookin' Burger". https://game.cookinburger.com ■About Cookin' Burger "Cookin' Burger" is a multi-tasking cooking game in which a player, as a shop staff member in a burger shop, takes orders from various types of customers and aims to serve them accurately and quickly to build the shop's reputation. Players can become shop owners within the game by purchasing shop NFTs consisting of various grades. Build your shop's reputation through game play, and as your reputation grows, you will have more opportunities to earn DEAPcoins in the game. ▼Click here to play "Cookin' Burger". https://game.cookinburger.com ▼ For a detailed game overview of "Cookin' Burger", click here. https://medium.com/playmining-game/playminings-fourth-game-title-overview-of-the-multitasking-cooking-game-cookin-burger-e98e58252640 ▼ Click here to purchase shop NFTs for "Cookin' Burger". PlayMining NFT (https://daa.playmining.com) ▼Latest news on "Cookin' Burger" can be obtained in the following addresses. ・Special site (https://www.cookinburger.com/en) ・Twitter (https://twitter.com/PlayMining_SG) ・Discord (https://discord.com/invite/UcEAuyZGCV) Digital Entertainment Asset Pte. Ltd. | https://dea.sg/jp DEA, a global GameFi and meta verse platform business, was founded in Singapore in August 2018, and is developing "JobTribes", a Play to Earn game, "PlayMining NFT", an NFT marketplace and "PlayMining Verse", a meta verse project. Using blockchain technology, the company aims to realize a world where one can create value by having fun. Co-CEO: Naohito Yoshida, Kozo Yamada Location: 7 Straits View, Marina One East Tower, #05-01, Singapore 018936 Establishment: August 2018 Business description: GameFi platform business Contact Information Digital Entertainment Asset Pte Ltd Public Relation: Takasugi ｜tomoyuki_takasugi@dea.sg / Soeda｜soeda@dea.sg Related Images Image 1 This content was issued through the press release distribution service at Newswire.com.
● The listing aims to accelerate the expansion and growth of its IoT business, raising a minimum gross proceeds of USD4 million (based on the issue price of at least USD4 per issue share) ● Its IoT-business arm, ARB IoT Group Limited (“AIGL”) would enable the Group to unlock the value of its investment in the IoT business and efficiently allocate resources for its next phase of growth ● AIGL Group has built up an IoT development ecosystem to help customers seize opportunities brought by new digital technologies with 4 business lines in IoT segment. ● The proposed listing is expected to be completed tentatively by 4Q 2022, barring any unforeseen circumstances and is subject to all required approvals. KUALA LUMPUR, MALAYSIA - Media OutReach - 12 August 2022 - Main Market-listed information technology (“IT”) software and platform provider ARB Berhad (“ARB” or “Group”) proposes to list ARB IOT Group Limited (“AIGL”), an indirect wholly-owned subsidiary of ARB Berhad on the NASDAQ Stock Exchange as a spin-off exercise of its IoT business arm (“Proposed Listing”). AIGL provides a wide range of IoT system services, such as system integration and system support service. A filing with Bursa Malaysia today shows that the Proposed Listing will unlock the value of its investment in the IoT business and efficiently allocate resources to accelerate the expansion and growth of its IoT business. ARB Berhad Executive Director Dato’ Sri Larry Liew Kok Leong (拿督斯里刘国良) said: “This Proposed Listing will be a new milestone for the Group. AIGL has a robust growth prospect given the evolving demand for new technology trends such as Artificial Intelligence (AI), cloud computing, robotic process automation, Internet-of-Things (IoTs) and hyper-connectivity, which continues to gain momentum. Driven by favourable factors such as rapid urbanisation, a proliferation of technology and mobile devices and a shift from traditional agriculture to IoT agriculture in ASEAN countries, AIGL aims to be one of the top IoT players in the ASEAN region, particularly in agriculture, property development and logistics industries. “We intend to set up a regional hub for IoT technology in Singapore to support this initiative,” Dato’ Sri Larry said. “To remain competitive in this fast-paced and ever-evolving industry, we need to invest strongly in the business operation, strategic acquisition and our research & development activities. The spin-off of our IoT business through a listing on the US NASDAQ Stock Exchange will help to provide us with the funding to pursue these expansion and growth opportunities.” Dato’ Sri Liew also added that a successful listing of AIGL on the NASDAQ Stock Exchange will allow the Group to gain better recognition as a separate listing status, enhancing its corporate reputation, business profile and visibility which in turn will enable it to achieve greater market penetration. “It’s not just financial flexibility that we are looking at with the listing of AIGL. As a standalone entity, AIGL will achieve greater market penetration and a wider customer base,” Liew said. He also pointed out that the AIGL’s investor base could be widened through the participation of the global investing community, given the prominence of the NASDAQ Stock Exchange among global investors. As for ARB, it would unlock the value of its investment through the share offering exercise under the Proposed Listing, thus enhancing the value for its shareholders. AIGL expects to continue to deliver profitable growth, generate robust cash flow, and return capital to shareholders while maintaining a strong balance sheet. The Company will continue to prioritise opportunities by collaborating with the potential M&A targets to expand its geographical presence by taking advantage of cross-border business opportunities from 2022 onwards. The filing with Bursa also shows that AIGL has built up an IoT development ecosystem to help customers address the challenges and opportunities of new digital technologies. Accordingly, AIGL Group has been organised into 4 business lines: IoT Smart Home & Building, IoT Smart Agriculture, IoT System Development, and IoT Gadget Distribution. It added that the proposed utilisations of the proceed from the listing of AIGL on the NASDAQ Stock Exchange will be for the strategic acquisitions and investment activities of the Group, working capital and general corporate purposes, estimated listing expenses and research & development activities. Going forward, Dato’ Sri Liew shared that the Group is in a good position to expand its business regionally and will accelerate the expansion of its IoT business by gaining new market share. Aside from that, AIGL will expand its customer base by growing its direct sales force and regional sales channels in new markets. The Company will also push towards operational improvement to drive earnings growth, expand margin and improve cashflow. Barring any unforeseen circumstances and subject to all the required approvals being obtained, the Board of ARB expects the proposed listing of AIGL on the NASDAQ Stock Exchange to be completed by the fourth quarter of 2022. Hashtag: #ARBThe issuer is solely responsible for the content of this announcement.About ARB BerhadARB Berhad (“ARB” or “Company”) is incorporated in Malaysia under the ACT in October 1997 and was listed on the Main Market of Bursa Malaysia Securities Berhad in February 2004. The Company is primarily an IT software and platform provider company. It’s business operates predominantly in two (2) business areas: 1. Enterprise Resource Planning (“ERP”) – designing and reselling of customised ERP solutions 2. Internet of Things (“IoT”) – integrated solutions in the systems, engineering, procurement, commissioning, and management of IoT systems Its expertise lies in empowering businesses through digital transformation and technology integration
Founded by local games industry pioneers, Virtuos Kuala Lumpur supports the growth of Malaysia as a regional game development hub through talent training and jobs creationSINGAPORE - Media OutReach - 12 August 2022 - Virtuos, a leading global video game development company, today announced the official launch of its studio in Kuala Lumpur, Malaysia. Virtuos Kuala Lumpur delivers full game development, engineering, and art production services to some of the world's biggest game developers and publishers. It is part of Virtuos' global network of studios, which has contributed to iconic games including Assassin's Creed, Call of Duty, Demon's Souls, Final Fantasy, Horizon Forbidden West, and Medal of Honor: Above and Beyond for Meta Quest 2. Left to right: Boon Yan Toh, Mufizal Mokhtar, Ian Ng Siong Yoong, Noorazhar Mohd Noor, and Johaness Reuben Helmed by Mufizal Mokhtar as General Manager, Virtuos Kuala Lumpur was founded by a team that includes veteran AAA game developers with over 20 years of experience each, and who have returned home to launch the studio. The team comprises Boon Yan Toh as Studio Operations Director, Ian Ng Siong Yoong as Studio Production Director, Noorazhar Mohd Noor as Senior Lead Artist, and Johaness Reuben as Technical Art Director. Since the studio's soft launch in early 2021, its team has grown to 90 employees. Mufizal Mokhtar, General Manager at Virtuos Kuala Lumpur "I am pleased to return home to build Virtuos Kuala Lumpur alongside some of my closest friends and pioneers in the industry," said Mufizal. "We are excited to play an active part in Malaysia's game development industry and the growth of its digital ecosystem. Thanks to the support of the Malaysian Government and our global Virtuos network, we look forward to welcoming the best talent to our multicultural team and making games better, together." At the forefront of Malaysia's growing games industry The launch of Virtuos Kuala Lumpur will be a significant addition to Malaysia's fast-developing video games sector. In collaboration with the Malaysian government, Virtuos will focus on further expansion and the training of new talent. Datuk Arham Abdul Rahman, CEO of MIDA, said, "The exponential growth of the global gaming industry has been remarkable as this industry presents many opportunities and a huge potential for growth. The establishment of a Virtuos studio in Malaysia is in line with our efforts to attract creative quality investments, which contribute to a rich and diverse digital media sector and create high-value job opportunities, allowing many young talent to pursue their passion for gaming by making a global impact with fun, creative and original IP conceptualized and developed in Malaysia". He added, "With the global gaming revenue projected to reach USD219.90 billion in 2022, continuous technological advancements in the gaming industry are significantly leveling up the way games are created and improving the overall gaming experience for the users. MIDA will continue to play an active role in promoting the gaming industry which will contribute to a sustainable digital ecosystem and position Malaysia atop the list of digital nations. We want to assure companies such as Virtuos that Malaysia can be your home, and we stand ready to support the growth of this industry." Mahadhir Aziz, CEO of MDEC, said, "MDEC would like to congratulate Virtuos on their expansion to Malaysia. As a globally-renowned video game development company, their presence is evidence of the nation's vibrant creative digital content ecosystem, and further proof of our role as the regional hub of choice. Virtuos' commitment towards developing digital talent and creating high-value job opportunities is aligned to the goals of Malaysia Digital. MDEC is looking forward to collaborating closely with Virtuos in supporting their future endeavours". Gilles Langourieux, CEO of Virtuos, said, "With the launch of Virtuos Kuala Lumpur, we are excited to contribute to Malaysia's digitalization and growth as a regional game development hub. We have ambitions to grow our local headcount to 300 by the end of 2025, and become one of Malaysia's top studios that deliver full-cycle game development expertise and quality projects for our partners worldwide." Strategically located between Virtuos' Singapore headquarters and its largest Asian studios in China and Vietnam, Kuala Lumpur is a natural expansion for Virtuos worldwide. The expansion also builds upon Virtuos' launches in Lyon and Montreal, as well as its acquisitions of Glass Egg in Ho Chi Minh City and Volmi in Ukraine this year. Hashtag: #Virtuos #MIDA #MDEC #MYMDEC #HeartofDigitalASEAN #SayaDigitalThe issuer is solely responsible for the content of this announcement.About VirtuosFounded in 2004, Virtuos is a leading global video game development company headquartered in Singapore with studios across Asia, Europe, and North America. With over 3,000 full-time professionals, Virtuos specializes in game development and art production for AAA consoles, PC, and mobile titles, enabling its partners to generate additional revenues and achieve greater operational efficiency. For over a decade, Virtuos has successfully delivered high-quality content for more than 2,000 projects and its clients include 18 of the top 20 digital entertainment companies worldwide. More information at www.virtuosgames.com. Virtuos Kuala Lumpur is actively hiring and welcoming applicants interested in embarking on this next phase of growth with the studio. For more information, please see open positions here or contact hr_my@virtuosgames.com. About Malaysian Investment Development Authority (MIDA) MIDA is the government's principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube channel. About Malaysia Digital Economy Corporation (MDEC) Malaysia Digital Economy Corporation (MDEC) is a government agency under the purview of the Ministry of Communications and Multimedia Malaysia entrusted to lead Malaysia's digital economy forward. Incorporated in 1996 to oversee the development of the MSC Malaysia initiative, MDEC's primary mandate today is to accelerate the growth of digitally-skilled Malaysians, digitally-powered businesses and digital investments in Malaysia. MDEC is focused on creating inclusive, high-quality growth through the nationwide digitalisation initiatives that are in line with the Government's Shared Prosperity Vision 2030 and firmly establishing Malaysia as the Heart of Digital ASEAN. To find out more about MDEC's initiatives, please visit www.mdec.my or follow: Facebook: https://www.facebook.com/MyMDEC/
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