G3 (7184): G3 GLOBAL BHD to continue pursuing AI park venture

G3 (7184): G3 GLOBAL BHD to continue pursuing AI park venture

GGB managing director Dirk Quinten pointed out that the AI park will transform intelligent city living through digital technologies converging at incredible speed and has already changed the way people live, work and play.

KUALA LUMPUR: G3 Global Bhd (GGB) remains committed to the development of the 315-acre artificial intelligence(AI)-powered park near Kuala Lumpur with SenseTime Group Ltd (STGL) and China Harbour Engineering Company Ltd (CHEC).

GGB managing director Dirk Quinten pointed out that the AI park will transform intelligent city living through digital technologies converging at incredible speed and has already changed the way people live, work and play.

"The AI park is conceptually designed to agglomerate AI-driven and cloud-powered technologies to accelerate the development of next-generation products and services such as smart city, mobility, retail, education, robotics and healthcare as well as prop-tech and fintech solutions," he told The New Straits Times.

GGB, in April 2019, signed a memorandum of understanding (MoU) with STGL and CHEC  to develop Malaysia's first AI-powered' technopolis' in which the three parties will invest up to US$1 billion over five years to promote AI-related research and development related to public-service infrastructure.

CHEC is a subsidiary of China Communications Construction Company, one of the world's largest construction company.

STGL is a unicorn AI company en route to a year-end listing on the Hong Kong Stock Exchange to raise to US$2 billion.

The company is valued at US$12 billion, according to Financial Times.

"This park will be important for Malaysia as it would house the necessary AI research-related public service infrastructure as a base to nurture AI talent and promote AI technology in the country," Dirk said, adding that one of the key components of the park is a hyper-scale data centre hub that will facilitate cloud computing and power the digitisation of enterprises.

GGB, together with its partners, believe the park can also catalyse upstream investment in technology manufacturing as it will be a platform where a full suite of technology infrastructure will support the creation of new living experiences through leading-edge digital innovations encapsulated in smart cities and next- generation technology parks.

Dirk noted that the recent entry of Bestinet Group of Companies founder Datuk Sri Aminul Islam Abdul Nor as an executive director of GGB would help the company close the gap between high-tech products and user-friendly applications across industries.

Aminul has an indirect 24.85 per cent stake in GGB through several entities.

"Aminul is the driving force behind many end-to-end information technology solutions.

His experience and know-how will benefit us as AI and the Internet of Things (IoT) can be applied to any industry, but we find that the products are often standalone solutions and not embedded in a suitable infrastructure, lacking in data handling," he said.

Besides Aminul, Bestinet Sdn Bhd chief financial officer Kunal Tayal was also appointed a non-executive director in GGB.

GGB has also acquired a 51 per cent stake in Bestinet Healthcare Sdn Bhd as part of plans to venture into healthcare.

https://www.nst.com.my/business/2021/12/751811/g3-continue-pursuing-ai-park-venture