G3 Global inks MoUs for US$1b AI park project

G3 Global inks MoUs for US$1b AI park project

Friday, 26 Apr 2019
4:50 PM MYT

The Star Online

KUALA LUMPUR: G3 Global Bhd has inked memorandums of understanding (MoU) with China’s SenseTime Group Ltd and China Harbour Engineering Company Ltd (CHEC) in relation to their collaboration on setting up an AI park in Malaysia.

The signing of the MoU came following Prime Minister Tun Dr Mahathir Mohamad’s visit to SenseTime’s Beijing office in conjunction with the 2nd Belt and Road Forum for International Cooperation, Beijing 2019.

According to the announcement, the park will serve as the platform for the development of AI solutions in the areas of computer vision, speech recognition, natural language and humanoid/robotics.

“Ultimately, the park will be a regional epicentre for the development of technology & talent, data management, research and development and commercial ecosystems,” it said.

G3 will form partnerships and collaboration with various stakeholders from government agencies, universities, enterprises to multinational corporations

Meanwhile, SenseTime will build a supercomputing and AI platform for research and cloud services while CHEC will provide its expertise in infrastructure engineering and construction services.

The parties aim to invest a total of US$1bil (RM4.15bil) in the project.

“As we are living in the digital age, it is vital for all industry players to integrate Industry 4.0 technologies such as AI and big data into their day-to-day operations.

“For that to happen, AI park will serve as the main hub for industry players and talents to be trained on AI and machine learning with cutting-edge facilities and physical infrastructure for education, training, research, development and deployment.

“With the AI park, I believe Malaysia will be a step closer in realising the vision to be ranked within the top 30 of the Global Innovation Index ranks by 2025,” said Wan Khalik Wan Muhammad, executive chairman of G3.

In a separate filing, G3 also responded to an unusual market activity (UMA) query issued by Bursa Malaysia earlier today with regard to the sharp rise in its share price.

The group said it was unaware of any previously unannounced corporate development that could account for the unusual trading activity, but highlighted its same-day announcement of the MoUs with SenseTime and CHEC.

“Other than the MOU above, the board is not aware of any rumour or report concerning the business and affairs of G3 Group that may account for the trading activity,” it added.

At at 4.50pm, shares in G3 were trading 23 sen or 16.55% higher at RM1.62 a unit on the back of 2.34 million shares done.