15/08/2025

BIZ & FINANCE FRIDAY | AUG 15, 2025

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Telenor eyes building ‘AI factory’ in Malaysia

Carsome delivers best-ever quarterly financial results

PETALING JAYA: Carsome Group Inc, Southeast Asia’s largest integrated car e-commerce platform, delivered its most profitable three month performance to date in second-quarter 2025 (Q2’25), posting earnings before interest, taxes, depreciation and amortisation (Ebitda) of over US$5 million (RM21 million) and continuing its trajectory of sustained, quality earnings. The group recorded a 19% year-on-year increase in gross profit for the quarter, underpinned by continued strength across both its wholesale and retail businesses. Group-wide disciplined cost management continued to support operational efficiency. Ebitda more than quadrupled year-on-year, outpacing gross profit per unit growth, reflecting improved monetisation and pro ductivity gains as the group sharpens its operational playbook. Ebitda for the first half of the year reached more than US$10 million, a sevenfold increase from the same period last year. “Our agile operating model continues to drive market share gains in a rapidly evolving environment. We remain confident in delivering sustained profitable growth throughout the year, even amid regional macroeconomic uncertainties,” said Carsome co-founder and group CEO Eric Cheng. “We view mobility access as a structural need in Southeast Asia, not just a consumer pre ference. By anchoring our solutions in quality assurance and post-sale confidence, we are not only meeting current demand but cementing our long-term market leadership. Our newly introduced Carsome Value Plus range is one example of how we are broadening access to reliable vehicles for more market segments. This aligns withthe broader national push for accessible mobility and to ease cost pressures,” he added. Mastercard, Abac to host Asean Inclusive Growth Summit in KL PETALING JAYA: The Mastercard Center for Inclusive Growth is collaborating with Asean Business Advisory Council (Abac) to host the inaugural Mastercard Asean Inclusive Growth Summit in Kuala Lumpur in October – the first of three convenings set to take place in Southeast Asia over the next three years. The collaboration underscores the company’s alignment with Abac’s focus on sustained, inclusive economic growth in the region amid an evolving global and economic landscape. “This collaboration with Mastercard sets the stage for a long-term platform to advance inclusive economic growth in Asean. The summit creates space for meaningful dialogue and collaboration, where regional challenges can be addressed through practical, locally relevant solutions. As we look ahead, our goal is to strengthen Asean’s position as a driver of sustainable, inclusive prosperity,” said Abac chairman Tan Sri Nazir Razak. Mastercard vice-chairman and president (strategic growth) Jon Huntsman said as the region navigates challenges from economic fragmentation to digital disruption, their collaboration with the Abac reflects their com mitment to helping individuals and businesses unlock economic opportunities, so everyone can benefit from the digital economy. The summit will bring together government leaders, business pioneers, and development organisations in a high-level forum focused on inclusive and sustainable growth, with a spot light on micro, small and medium enterprises, digital innovation and impact-driven part nerships.

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

o Such a facility could support country’s cloud and data centre strategy, says major shareholder of CelcomDigi

KUALA LUMPUR: Telenor ASA, a major shareholder of CelcomDigi Bhd, is eyeing the development of a sovereign, sustainable “artificial intelligence factory” (AI factory) in Malaysia – a data centre designed to deliver local compute power. Telenor Group senior vice-president and head of AI Dr Ieva Martinkenaite said the proposed facility would draw on the company’s experience in Norway, where it established its first AI factory to provide compute-as-a-service within a sovereign, sustainable framework. “We see an opportunity to work with the Malaysian government on secure, scalable AI infrastructure that benefits the country. Telcos are trusted partners in AI ecosystems, we are not just connectivity providers anymore, but technology players,” she told reporters at the release of Telenor Asia Digital Lives Decoded 2025: Building Trust in Malaysia’s AI Future Report yesterday. Martinkenaite said the AI factory could support Malaysia’s cloud and data centre strategy with potential payback to the economy. “We are also ready to contribute perspectives on training and responsible AI as a service. This is certainly also an opportunity to monetise.” CelcomDigi chief innovation officer Kugan Thirunavakasaru stressed the need for local sovereign data to embed AI into services for its over 20 million users. “In two to three years, every individual could have a personal AI agent, but that requires massive compute power,” he said. “The AI factory concept aligns well with CelcomDigi’s vision, as future AI agents will be embedded into services and perform end to-end tasks for users.” He said scaling to meet this demand is not easy without the right capability and compute power. “Pooling resources with Telenor gives us the scalability to meet that demand while ensuring ethics and governance remain in place.” For the quarter under review, the group recorded revenue of RM62.3 million and profit before tax (PBT) of RM14.26 million, driven by solid performance across its core business segments – leisure and hospitality, property development, and property investment. Cumulatively, for the first half of FY2025, revenue stood at RM124.35 million and PBT at RM26.62 million. Recurring income segments, comprising property investment and leisure and hospitality, contributed 67% of total PBT for H1’25, underscoring the group’s strategic pivot towards stable, asset-backed earnings. The leisure and hospitality segment remained the largest revenue generator for the second consecutive quarter, contributing RM28.6 million in revenue and RM4.77 million in PBT, a 61% increase from the preceding quarter. Key drivers included WynSnow at Wyndham Suites KLCC and strong perfor mances from the DoubleTree by Hilton i-City and Wyndham Garden i-City hotels, supported

From left: Telenor Asia head of external relations and sustainability Manisha Dogra, Kugan and Martinkenaite at the release of Telenor’s report.

using it for analytics (59%), content develop ment (52%), and customer service (45%). For those who are already using AI at work, they are 17% more likely to believe that AI will have a very positive impact on their job security and 13% more likely to believe the same for the country’s economy, signalling that AI adoption helps to shape people’s confidence. However, only one in three of those who use AI at work say their company has an AI strategy in place. Malaysian internet users remain opti mistic about the impact that AI can have on society, especially on the education front. Trust in AI-generated content has also grown across the board, especially in education (+15%), financial advice (+25%), and health (+19%).

The report, now in its fourth year, surveyed 1,000 Malaysian internet users to understand how AI is reshaping digital lives. Signalling a significant behavioural shift, with 89% of Malaysian internet users saying they use AI today, up from 75% in 2024. Notably, the number of internet users who use AI for financial purposes or health and fitness has more than doubled. Today, a quarter of Malaysian internet users surveyed intentionally use AI tools multiple times a day. They are also leveraging AI to enhance their skillsets. The top competencies AI has helped improve include problem-solving (56%), data analysis (48%), research (47%) and creativity (45%). Over half (51%) of Malaysian internet users now use AI at work, up from 37% in 2024. Top applications of AI in the workplace include The property development segment delivered RM26.64 million in revenue and RM5.66 million in PBT, driven by steady sales and construction progress at BeCentral Residences Towers 1 and 2. As of June 30, 2025, unbilled sales stood at RM90.36 million, providing strong earnings visibility. The property investment segment con tinued to provide stable returns, contri-buting RM6.45 million in revenue and RM4.79 million in PBT. Performance was supported by high occupancy and yield optimisation at Mercu Maybank and Central i-City Mall, alongside higher car park revenue and evolving tenant strategies. Executive chairman Tan Sri Lim Kim Hong said:, “This quarter’s results reflect the group’s continued discipline in building a resilient, recurring income base while executing on our longer-term roadmap to elevate i-City as Malaysia’s leading smart lifestyle destination. Each segment is delivering as intended, whether through stability, growth, or inno vation, and this balanced approach gives us the agility to navigate evolving market dynamics.” I-Bhd has commenced a RM10 million

I-Berhad reports solid Q2 on strong core businesses PETALING JAYA: I-Berhad, the developer of i City in Selangor, reported another strong quarter for the financial period ended June 30, 2025 (Q2’25), reinforcing the group’s trans formation into a recurring income-centric enterprise. by increased foot traffic during the Hari Raya and school holiday periods. artificial intelligence (AI) and smart auto mation programme, now being deployed across its income-generating assets. Inte grated through the proprietary i-City SuperApp and supported by global tech part nerships, this initiative will enable predictive maintenance, optimise energy and visitor flow, and elevate tenant and customer ex periences.

To accelerate its vision for i-City as a hub for AI and robotics, I- Berhad is collaborating with Agibot, one of China’s foremost robotics inno vators, backed by Tencent, LG and JD.com. The strategic alliance marks a bold step in I- Berhad’s evolution beyond property, reposi tioning it as a next-generation, innovation-led group at the intersection of real estate, AI and robotics. By embedding technology into its ecosystem, I- Berhad is building new engines for growth and unlocking long-term value for shareholders. “This AI and robotics strategy isn’t just about enhancing what we have. It is about creating what is next. Through embodied AI systems and strategic partnerships, I-Berhad is unlocking new growth pathways and posi tioning itself at the forefront of the industries being reshaped by intelligent automation,” said Lim.