KUALA LUMPUR: G3 Global Bhd has laid out more details on its plans for the setting up of an artificial intelligence (AI) park in Malaysia.
In a filing today, G3 said it had inked memorandums of understanding (MoU) with Hong Kong's SenseTime Group Ltd and China's China Harbour Engineering Company Ltd (CHEC) in relation to the project.
According to the announcement, the proposed AI park will be the first in Malaysia and will serve as a platform for the development of AI solutions in areas of computer vision, speech recognition, natural language and humanoid or robot.
"Ultimately, the park will enable the development of technology & talent, data management, research & development and commercial ecosystem which not only could assist the Government of Malaysia to address in data ecosystem and AI governance but also industry players," it said.
G3 as the local partner will coordinate efforts with the Malaysian authorities and regulators, form local partnerships as well as promote and develop the project.
Meanwhile, SenseTime will serve as the AI technology provider for the partnership while CHEC will provide infrastructure engineering and construction services as well as management and maintenance of the park.
The parties aim to invest a total of US$500mil (RM2.07bil) in the project.
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 2.32pm, shares in G3 were trading 21 sen or 15.11% higher at RM1.60 a unit on the back of 1.63 million shares done.
According to the announcement, the proposed AI park will be the first in Malaysia and will serve as a platform for the development of AI solutions in areas of computer vision, speech recognition, natural language and humanoid or robot.
\"Ultimately, the park will enable the development of technology & talent, data management, research & development and commercial ecosystem which not only could assist the Government of Malaysia to address in data ecosystem and AI governance but also industry players,\" it said.
G3 as the local partner will coordinate efforts with the Malaysian authorities and regulators, form local partnerships as well as promote and develop the project.
Meanwhile, SenseTime will serve as the AI technology provider for the partnership while CHEC will provide infrastructure engineering and construction services as well as management and maintenance of the park.
The parties aim to invest a total of US$500mil (RM2.07bil) in the project.
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 2.32pm, shares in G3 were trading 21 sen or 15.11% higher at RM1.60 a unit on the back of 1.63 million shares done.
http://www.thestar.com.my/business/business-news/2019/04/26/g3-global-inks-mous-for-us$500m-ai-park-project/
