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News in Brief : June 9, 2021

09/06/2021 09:09 PM

ALIBABA CLOUD has launched a one-stop e-commerce livestreaming solution to help global merchants launch interactive channels to offer personalised online shopping experience.

The livestream solution was offered alongside more than 20 other products, solutions, and updates during the virtual Alibaba Cloud Summit 2021 to further help businesses on their digitalisation journeys as a response to the increasing demand during the COVID-19 pandemic.

“Among the offerings, the seventh generation of Alibaba Cloud’s elastic compute service and an updated cloud-native data management service will debut in Asia followed by the rest of the global markets,” Alibaba Cloud said in a statement today.



TIONG NAM LOGISTICS HOLDINGS BHD is expanding its logistics warehousing capacity via a RM30 million acquisition of VM Andaman Sdn Bhd which comes with its warehouse asset within the Port of Tanjung Pelepas in Johor.

In a statement today, the group said it had entered into a sale and purchase agreement with VM Andaman’s vendors, Kwasa Logistics Sdn Bhd and Goodman SEA Investments No. 1 Ltd to acquire 9.07 million ordinary shares in VM Andaman, representing 100 per cent of the company’s total issued shares.

VM Andaman’s warehouse has a built-up area of 158,013 sq ft and is situated on a 2.67-hectare land.



MAB KARGO SDN BHD’s Perishable Centre at the Kuala Lumpur International Airport will be undergoing an upgrade worth more than RM5 million.

In a statement today, the company said renovation and upgrading works are expected to be completed in four months and is expected to commence operations on Aug 1, 2021.

“Current services provided by the Perishable Centre will not be affected during the refurbishing period,” it said.



UCREST BHD has entered into a memorandum of understanding with an additional new contract manufacturer in China to produce up to 100 million doses per year of the Sputnik V vaccine for two years.

The company expects the contract manufacturing to contribute positively to the net assets per share of the UCrest group for the financial year ending May 31, 2022, it said in a filing with Bursa Malaysia today.

As a mobile health and cloud platform developer and provider, UCrest said it does not foresee any exceptional risks associated with the agreements.

The company said it also has agreements with the Russian Direct Investment Fund, which is a government entity responsible for the commercialisation of Sputnik V, to manage contract manufacturing in Asia to produce the vaccine.



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