Highlights:

  1. Cradle’s startups have greatly benefited the economy
  2. AirAsia expands Johor Bahru hub with two new destinations
  3. M&E sector is major component in developing Malaysian economy
  4. Colony invests RM4.6m mln in Bangsar co-working space
  5. France wins most-streamed game as well as the tournament!

Cradle’s startups have greatly benefited the economy
Cradle’s Cradle Investment Programme (CIP) has contributed RM3.4 billion to Malaysia’s GDP, created 80,600 full-time jobs and attracted RM1.3 billion in private and foreign funds over eight years from 2008. These figures were provided by Cradle acting Group Chief Executive Officer, Razif Abdul Aziz in Kuala Lumpur today. “These are positive outcomes by any measure, and testimony to the fact that the right funding at the right time can in fact result in far greater outcomes than that of ordinary public spending. Stay tuned for the full report on the study in coming weeks,” he said. HELP University was commissioned to conduct the study that produced these numbers using data from grant programmes between 2008-2016. The main point of it was to find out what has been Cradle’s impact on the ecosystem over the years. Since being established, Cradle — incorporated under the Ministry of Finance (MOF) in 2003 — has funded more than 800 tech startups and witnessed this network quickly grow around the region. “Today, we can see how these startups have become smarter, more informed and cultivated stronger networks. However, the challenges will be greater in this age of digital technology,” warned Razif.

AirAsia expands Johor Bahru hub with two new destinations
Low-cost airline, AirAsia is expanding its domestic network from Johor Bahru with two new destinations, Alor Setar and Ipoh, effective 1 October 2018. AirAsia Malaysia will fly four times a week from Johor Bahru to both destinations, departing from Senai International Airport. The Johor Bahru-Ipoh route also marks its first service to the capital of Perak. AirAsia Malaysia Head of Commercial Spencer Lee said the expansion was not only to boost connectivity between the southern and northern of Peninsular Malaysia but also an opportunity to strengthen the state economies of Johor, Kedah and Perak through increased tourism.

M&E sector is major component in developing Malaysian economy
UBM Asia Group Managing Director (Asean Business) and Vice-President, M. Gandhi said the mechanical and electrical engineering (M&E) sector is a major component in the development of the economy. He said pockets of construction and development were happening in the country that involved engineering works, and in this respect, the ongoing ASEAN M&E Show 2018 organised in Kuala Lumpur by UBM was an important event. “This is one of the extremely important events for the engineering sector. In Malaysia, there is a lot of construction and development taking place and this sector is a very important component of the economy,” said Gandhi. He said manufacturers, contractors, engineers and those from the mechanical industry should leverage on the three-day event that started yesterday. Speaking to Bernama News Channel, Gandhi said while Malaysia was moving steadily towards becoming a diversified service-based economy, the sector continued to play an important role in the economy as the next wave of business and investment opportunities.

Colony invests RM4.6m mln in Bangsar co-working space
Colony, a serviced office and co-working space provider, has invested RM4.6 million to lease and renovate five floors in Bangsar Eco City. Co-Founder and Executive Director Timothy Tiah said as the trend of sharing work space grows, especially among millennials, the demand from start-ups are also on the rise or comfortable working spaces. “As we cater to the high-end market, we are filling the demand for first-rate flexible working space with excellent amenities,” he said. This will be Colony’s second co-sharing office space with the first being Colony@KLCC. “Currently, Colony@KLCC is 70 per cent occupied while for this space, we already have a 60 per cent occupancy rate even though we just launched,” Tiah said.

France wins most-streamed game as well as the tournament!
The 2018 World Cup in Russia has seen record numbers of soccer fans tuning in on a variety of devices. This has also been one of the most-streamed sporting tournament, by volume of data, in Akamai’s history, as France not only took home the trophy in Russia, they also won the most-streamed game. The highest traffic peak on the Akamai platform during a single game of the tournament was during the semi-final between France and Belgium, during which bandwidth reached 22.52Tbps. To put that in context, four years ago, the peak in Brazil was 6.88Tbps. The France-Croatia final drove the second-highest bandwidth peak of the tournament at 20.66Tbps. The Russian tournament drew unprecedented audiences for international football streaming, with the final match driving 7.9 million concurrent streams.  The peak in the tournament was during group stage, where two games (Mexico-Sweden and South Korea-Germany) took place at the same time and achieved 9.7 million concurrent streams. This compares to a viewing peak of 5 million for the tournament in Brazil.