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Virtuos Bolsters Southeast Asian Presence With Launch of Game Development Studio in Kuala Lumpur

Founded by local games industry pioneers, Virtuos Kuala Lumpur supports the growth of Malaysia as a regional game development hub through talent training and jobs creation

SINGAPORE – Media OutReach – 12 August 2022 – Virtuos, a leading global video game development company, today announced the official launch of its studio in Kuala Lumpur, Malaysia. Virtuos Kuala Lumpur delivers full game development, engineering, and art production services to some of the world’s biggest game developers and publishers. It is part of Virtuos’ global network of studios, which has contributed to iconic games including Assassin’s Creed, Call of Duty, Demon’s Souls, Final Fantasy, Horizon Forbidden West, and Medal of Honor: Above and Beyond for Meta Quest 2.

Left to right: Boon Yan Toh, Mufizal Mokhtar, Ian Ng Siong Yoong, Noorazhar Mohd Noor, and Johaness Reuben

Left to right: Boon Yan Toh, Mufizal Mokhtar, Ian Ng Siong Yoong, Noorazhar Mohd Noor, and Johaness Reuben

Helmed by Mufizal Mokhtar as General Manager, Virtuos Kuala Lumpur was founded by a team that includes veteran AAA game developers with over 20 years of experience each, and who have returned home to launch the studio. The team comprises Boon Yan Toh as Studio Operations Director, Ian Ng Siong Yoong as Studio Production Director, Noorazhar Mohd Noor as Senior Lead Artist, and Johaness Reuben as Technical Art Director. Since the studio’s soft launch in early 2021, its team has grown to 90 employees.

Mufizal Mokhtar, General Manager at Virtuos Kuala Lumpur

Mufizal Mokhtar, General Manager at Virtuos Kuala Lumpur

“I am pleased to return home to build Virtuos Kuala Lumpur alongside some of my closest friends and pioneers in the industry,” said Mufizal. “We are excited to play an active part in Malaysia’s game development industry and the growth of its digital ecosystem. Thanks to the support of the Malaysian Government and our global Virtuos network, we look forward to welcoming the best talent to our multicultural team and making games better, together.”

At the forefront of Malaysia’s growing games industry

The launch of Virtuos Kuala Lumpur will be a significant addition to Malaysia’s fast-developing video games sector. In collaboration with the Malaysian government, Virtuos will focus on further expansion and the training of new talent.

Datuk Arham Abdul Rahman, CEO of MIDA, said, “The exponential growth of the global gaming industry has been remarkable as this industry presents many opportunities and a huge potential for growth. The establishment of a Virtuos studio in Malaysia is in line with our efforts to attract creative quality investments, which contribute to a rich and diverse digital media sector and create high-value job opportunities, allowing many young talent to pursue their passion for gaming by making a global impact with fun, creative and original IP conceptualized and developed in Malaysia”.

He added, “With the global gaming revenue projected to reach USD219.90 billion in 2022, continuous technological advancements in the gaming industry are significantly leveling up the way games are created and improving the overall gaming experience for the users. MIDA will continue to play an active role in promoting the gaming industry which will contribute to a sustainable digital ecosystem and position Malaysia atop the list of digital nations. We want to assure companies such as Virtuos that Malaysia can be your home, and we stand ready to support the growth of this industry.”

Mahadhir Aziz, CEO of MDEC, said, “MDEC would like to congratulate Virtuos on their expansion to Malaysia. As a globally-renowned video game development company, their presence is evidence of the nation’s vibrant creative digital content ecosystem, and further proof of our role as the regional hub of choice. Virtuos’ commitment towards developing digital talent and creating high-value job opportunities is aligned to the goals of Malaysia Digital. MDEC is looking forward to collaborating closely with Virtuos in supporting their future endeavours”.

Gilles Langourieux, CEO of Virtuos, said, “With the launch of Virtuos Kuala Lumpur, we are excited to contribute to Malaysia’s digitalization and growth as a regional game development hub. We have ambitions to grow our local headcount to 300 by the end of 2025, and become one of Malaysia’s top studios that deliver full-cycle game development expertise and quality projects for our partners worldwide.”

Strategically located between Virtuos’ Singapore headquarters and its largest Asian studios in China and Vietnam, Kuala Lumpur is a natural expansion for Virtuos worldwide. The expansion also builds upon Virtuos’ launches in Lyon and Montreal, as well as its acquisitions of Glass Egg in Ho Chi Minh City and Volmi in Ukraine this year.

Hashtag: #Virtuos #MIDA #MDEC #MYMDEC #HeartofDigitalASEAN #SayaDigital

The issuer is solely responsible for the content of this announcement.

About Virtuos

Founded in 2004, Virtuos is a leading global video game development company headquartered in Singapore with studios across Asia, Europe, and North America. With over 3,000 full-time professionals, Virtuos specializes in game development and art production for AAA consoles, PC, and mobile titles, enabling its partners to generate additional revenues and achieve greater operational efficiency.

For over a decade, Virtuos has successfully delivered high-quality content for more than 2,000 projects and its clients include 18 of the top 20 digital entertainment companies worldwide. More information at .

Virtuos Kuala Lumpur is actively hiring and welcoming applicants interested in embarking on this next phase of growth with the studio. For more information, please see open positions or contact .

About Malaysian Investment Development Authority (MIDA)
MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube channel.

About Malaysia Digital Economy Corporation (MDEC)
Malaysia Digital Economy Corporation (MDEC) is a government agency under the purview of the Ministry of Communications and Multimedia Malaysia entrusted to lead Malaysia’s digital economy forward. Incorporated in 1996 to oversee the development of the MSC Malaysia initiative, MDEC’s primary mandate today is to accelerate the growth of digitally-skilled Malaysians, digitally-powered businesses and digital investments in Malaysia. MDEC is focused on creating inclusive, high-quality growth through the nationwide digitalisation initiatives that are in line with the Government’s Shared Prosperity Vision 2030 and firmly establishing Malaysia as the Heart of Digital ASEAN.

To find out more about MDEC’s initiatives, please visit www.mdec.my or follow:
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Appier continues its strong growth momentum and raises full-year guidance second quarter in a row

Significant growth, profitability and international expansion to underscore Appier’s focus in second half of 2022

Highlights and achievements for the second quarter of fiscal year 2022

  • Revenue increased to 4.4 billion yen with the highest YoY growth rate of 56% over the last three years
  • Gross profit grew 57% YoY
  • Revenue from the US and EMEA markets increased over 9 times YoY and represented 12% of total revenue
  • Achieved EBITDA margin of 5% with EBITDA profit of 213 million yen
  • Operating margin improved by 7 percentage points YoY and EBITDA margin improved by 6 percentage points YoY
  • Achieved 30% YoY growth in customer numbers with a record high last twelve months net revenue retention of 127.3% and lowest ever customer churn rate of 0.62%
  • Upward revision of full year forecast from 17.8 billion yen to 18.5 billion yen, with YoY revenue growth rate further accelerated to 46% from 41%


Appier’s second quarter performance summary

TAIPEI, TAIWAN – Media OutReach – 12 August 2022 – Appier Group Inc (TSE: 4180), henceforth referred to as Appier, today announced its financial results for the second quarter of fiscal year 2022. Appier’s robust growth in the second quarter was attributed to three key factors. Firstly, AI-powered solutions continue to deliver measurable returns for clients, prompting them to continue or expand their partnerships with Appier; secondly, Appier has achieved continued success in the US and EMEA given their large digital economies; and finally, substantial growth and expansion into other verticals in AsiaPacific has further deepened Appier’s market presence.

Appier’s continuing improved sales productivity and increasing usage from existing customers drove its revenue to 4.4 billion yen, with a historic high growth rate of 56% year-on-year (YoY), and gross profit grew by 57% YoY. Sustaining the momentum from its first quarter, Appier’s revenue from US and EMEA increased over 9 times YoY and represented 12% of its total revenue, a reflection of the company’s expectations for robust demand and profitable growth in light of international expansion.

Appier’s AI technologies and product differentiations are crucial in defining and setting the pace of business growth. As more enterprises seek measurable profit returns, turning marketing spending into predictable returns solidified Appier clients’ digital deployment in the industry race to adapt smarter and more effective solutions. The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) saw a 6 percentage points YoY improvement, while operating margin improved by 7 percentage points YoY.

Robust demand from customers across different regions

The growth in the number of customers adopting more than two Appier solutions, along with considerable new customer wins, demonstrates Appier’s strong business resilience. Appier’s recurring revenue currently constitutes over 95% of its total revenue, which drove Appier’s annual recurring revenue (ARR) to 16.6 billion yen with a YoY growth rate of 53%. Emerging growth drivers across different regions will continue to fuel this momentum with more predictable business opportunities.

Appier’s AI technology plays an increasingly important role in privacy-focused and ROI-oriented markets. Appier’s last twelve months (LTM) net revenue retention (NRR) grew to a historic high of 127.3%, with its number of customers increasing to 1,228 with a 30% YoY growth. Customer churn rate also decreased to 0.62%, the lowest in Appier history.

New customers were mainly from the e-commerce and entertainment industries (34% and 25% of total new customers, respectively), driven by post-COVID demand for digital transformation and changing consumption patterns.

Customers in Northeast Asia continued to account for the largest share of global revenue at 62%, followed by Greater China (19%), US and EMEA (12%) and Southeast Asia (7%). Appier’s ongoing successful international expansion played an instrumental role in its growth this quarter. This remarkable growth can be attributed to the US and EMEA’s position as the world’s largest digital economies, along with increased product offerings and a bigger total addressable market (TAM). Further expansion to top-tier customers in other verticals also deepened Appier’s market presence.

Profitable growth in the second half of 2022

Appier revised up its guidance for the fiscal year to reflect its outperformance in the second quarter, forecasting 18.5 billion yen total revenue for the year, with YoY revenue growth rate further accelerated to 46% from 41%. A profitable second half of the year is expected given stronger revenue growth and better operating leverage. Appier’s recession-proof offerings, higher business resilience and larger TAM are key drivers for this guidance revision for 2022.

Guidance in gross profit has outpaced top-line growth to 9.6 billion yen with 54% YoY growth rate. Operating loss has been revised to 84 million yen, with significant improvements compared to Appier’s original guidance and getting closer to breaking even, while full-year positive EBITDA profit has been revised to 1.07 billion yen with a 2,423% YoY growth rate.

Appier provides predictable returns on customers’ marketing spending, with its solutions offering direct revenue or profit impact in over 80% of customers. Furthermore, large enterprise customers with more than 10 billion yen annual revenue currently constitute over 90% of Appier revenues, underlining higher business resilience to overall macroeconomic conditions. Appier continues to maintain a market-leading presence in Asia Pacific, alongside further expansion to other verticals and geographies.

“Our strong momentum over the past two quarters underscores Appier’s significant growth alongside our customers. In particular, we achieved our highest year-on-year growth rate in the past three years. Our international expansion strategy continues to bear fruit for us, as the US and EMEA grew to form 12% of our total revenues at Appier,” said Dr. Chih-Han Yu, CEO and co-founder of Appier. “We are confident our solid business metrics will continue to see us through the second half of the year. Turning AI into ROI by making software intelligent will enable us to have a better chance at winning customers and transforming their budgets and investments into visible, high returns, helping them to better cope with market uncertainties and potential risks through Appier’s AI technologies and product differentiations.”

ROI-driven intelligent AI solutions empower product synergies

Appier’s solutions maximize customers’ product synergies and bring about lasting effects throughout the customer journey. Customers can now turn AI into ROI and exploit their full-funnel data with higher efficiency across all stages. Appier believes that AI is the key component in the 1st party data world and offers businesses cutting-edge software that enables real-time and precise prediction and advertising through three innovative approaches:

  • Synergic AIXON and AIXPERT bundled solutions: Businesses can benefit from inferred insights generated from 1st party data, allowing them to further optimize their marketing spending through higher AI accuracy and timely user insights. Applying these insights to auto-adjusting budget and bidding strategies will enable businesses to make smarter campaign decisions and seize potential business opportunities.
  • Combined AIQUA and BotBonnie solutions: With a single unified interface, businesses can now form an omnichannel customer journey map across multiple conversational channels (LINE, Messenger, WhatsApp, etc.) and owned channels (website, app) and gain a deeper understanding into user profiles. Businesses can then leverage these behavioral insights to take immediate action with tailored, real-time and personalized notifications triggered by user behavior along the journey.
  • AiDeal’s smart promotion: Businesses can now use the power of Machine Learning and Deep Learning to predict and update hesitation scores along the user journey and dynamically generate the most optimal offering to individuals based on their purchase hesitancy. Through this, businesses can maximize the ROI uplift of campaigns without sacrificing profitability.

With these, Appier is uniquely positioned to help its customers tackle the entire customer journey across all aspects of the funnel. Appier’s solutions are designed to help customer-centric companies build brand loyalty with their customers by arming them with a 360° view of the customer, using AI to deliver any actionable insights and turn a visitor into a customer, and a customer into a loyal one.

Appier continues to focus on market-driven transformation and these cross-product synergies are a result of Appier’s ethos towards innovation. This is further underpinned by Appier’s customers’ growth and demand for digitalization as Appier remains committed to helping customers with their digital transformation journey and helping them deliver the best customer experience.

Hashtag: #Appier

About Appier

Appier (TSE: 4180) is a software-as-a-service (SaaS) company that uses artificial intelligence to power business decision-making. Founded in 2012 with a vision of democratizing AI, Appier now has 17 offices across APAC, Europe and US, and is listed on the Tokyo Stock Exchange. Visit for more company information and visit for more IR information.

HyD holds “Building and Maintaining Highway Infrastructure through Innovation in Highways Department” exhibition in celebration of HKSAR 25th anniversary

HONG KONG SAR – Media OutReach – 12 August 2022 – To celebrate the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, the Highways Department (HyD) is holding “Building and Maintaining Highway Infrastructure through Innovation in Highways Department” exhibition from today (August 12) to August 21. Members of the public are invited to visit.

Caption

“The main theme of the exhibition is ‘Road Construction and Maintenance – Unleash The Power of Innovation’. Through real-life examples of the HyD’s work, visitors can learn more about the department’s innovation initiatives. These include the “Roadbot 2″ being the world’s first intelligent robot system with full cognitive abilities in understanding its surroundings for placing and collecting traffic cones and lanterns, which enhances safety of workers carrying out road works; drone-based remote sensing technologies for monitoring tree health conditions, which help to enhance the overall landscape quality across Hong Kong’s road network; the first high-precision mobile laser scanning and imagery system adopted by the Government for the territory-wide surveying work; and the leading-edge building information modelling technology for managing the whole construction project cycle holistically,” a spokesman for the HyD said.

A highlight of the exhibition is the 270-degree panoramic view “Immersive Hall”, which offers a first-hand and fully immersive experience for visitors to understand more about the planning, design, construction and maintenance of Hong Kong’s public road network. In addition, informative panels, interesting interactive question-and-answer games with gifts and photo-taking booth are available for visitors to get a deeper understanding of the HyD’s daily work.

Details of the exhibition:
Date: August 12 to 21
Time: 11am to 9pm
Venue: Event Hall, UG/F, Olympian City 1, West Kowloon

Hashtag: #HighwaysDepartment

The issuer is solely responsible for the content of this announcement.

Widespread Floods Hit North, Central, and Southern Laos

Laos is battling major floods in several parts of the country.
Floodwaters reach rooftops in Thapangthong District, Savannakhet Province.

Residents across Laos are battling severe floods as days of heavy rains are compounded by tropical storm Mulan, which has been pummeling the northern parts of the country.

In Myanmar, Australian Pleads Not Guilty, Japan Calls For Videographer’s Release

A rally for the release of prisoners including filmmaker Toru Kubota (photo source: AFP)

Australian economist Sean Turnell, being held in Myanmar, has pleaded not guilty in closed courts to charges of violating the nation’s “official secrets act,” while a Japanese lawmaker has visited Myanmar to advocate for the release of Japanese filmmaker Toru Kubota. 

New Virus Detected in China Spread by Shrews

New virus in China spread by shrews.

A new virus believed to be spread by shrews has affected nearly three dozen people in eastern China, according to a new report.

Jaguar TCS Racing Team Forges Ahead to Seoul for the 2022 Formula E World Championship E-Prix Races

Tata Consultancy Services Partner with Jaguar to Amplify the Importance of Electrification through Famous E-Prix Race Circuits around the World

SEOUL, SOUTH KOREA & SINGAPORE – Media OutReach – 12 August 2022 – Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), title sponsor of Jaguar TCS Racing, announced that the team is coming to Seoul this weekend. Watch the team live in action as the 2022 Hana Bank Seoul E-Prix reaches South Korea for the first time this Saturday, August 13, beginning at 11:40 KST.

Electric vehicles (EVs) are the way of the future. As the technology transformation partner to key players across the end-to-end EV value chain, TCS is a strong proponent of the shift towards cleaner, greener mobility. TCS was recently featured on the Financial Times APAC Climate leaders list for having the lowest core emissions intensity among consultancy services. It also extended its knowledge to other industries by launching the world’s first Digital Sustainability Index earlier this year. Its partnership with Jaguar Racing helps amplifying the importance of electrification through the famous e-Prix race circuit across the globe. This reflects TCS’ pursuit of global sponsorships to help implement change and leads others forward in smarter, more sustainable ways.

At TCS, we believe that technology drives sustainable progress. In the past five decades, TCS has been working closely with companies in this region on their digital transformation journeys, as they strive to make a difference for their customers and communities,” said Girish Ramachandran, President, TCS Asia Pacific. “Our partnership with Jaguar is another concrete step towards harnessing the collective knowledge required to enhance the future of the automotive and motorsport sectors. Coming at a time when TCS has recently achieved carbon neutrality in all our markets in Asia Pacific, three years ahead of our original target, the collaboration builds on our belief in driving sustainability through innovation and creating the future of mobility by electrifying ecosystems.”

“It is a momentous occasion as the Formula E World Championship comes to Seoul for the first time, and we are delighted to be partnering with Jaguar in this event. TCS has always been a strong advocate of electrification as we look towards sustainability, and there is no better way to proclaim this on the world stage than with this exciting race. We view EVs as the norm of the future and look forward to the camaraderie and healthy competition this weekend.” Said Ramesh Iyer, Country Head, TCS South Korea.

During this multi-year partnership, TCS and Jaguar create a dynamic platform to drive research and innovation while steering towards advanced concepts and EV technologies. TCS is leveraging its deep expertise across the EV value chain to help Jaguar TCS Racing become a catalyst for electrification, pushing towards low carbon emissions and sustainable mobility. The partnership is seeing the creative use of data and insights from the racetrack to shape the wider growth, development, and transformation of the EV ecosystem.

Hashtag: #TataConsultancyServices #TCS

About Tata Consultancy Services

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India’s largest multinational business group, TCS has over 606,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $25.7 billion in the fiscal year ended March 31, 2022, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS’ proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit

Cambodia to Inspect Vietnamese Noodles for Banned Substance

Customer browses instant noodles at a Vietnamese supermarket
Customer browses instant noodles at a Vietnamese supermarket (Viet Reader).

Cambodian officials are to test instant noodles produced in Vietnam for Ethylene Oxide and will recall products containing the banned substance.