23/05/2026

BIZ & FINANCE SATURDAY | MAY 23, 2026

12

i-City, Mesiniaga team up to develop the ‘brain’ for AI Living

OSK acquires freehold land in Kedah for RM40.69m

PETALING JAYA: OSK Holdings Bhd, through its property arm OSK Property Holdings Bhd and indirect subsidiary OSK Pro perties Sdn Bhd, has entered into an agreement to acquire a parcel of freehold land measuring about 98.33 acres in Bandar Sungai Petani, Kedah, for RM40.69 million. The land is adjacent to the group’s flagship Bandar Puteri Jaya township and adjoins Yarra Park. “This acquisition marks a strategic step in strengthening our presence in Sungai Petani and advancing our long-term growth plans in Kedah. By building on the success of Bandar Puteri Jaya, we are well-positioned to deliver a thoughtfully planned township that meets evolving community needs while contributing to the area’s continued development,” said OSK Group deputy managing director Ong Ju Xing. The proposed development is envisioned as a large-scale township comprising double storey terrace homes, townhouses and apartments, with an estimated GDV of RM489 million. The development aims to build on the success of Bandar Puteri Jaya by delivering affordable homes for first-time home buyers. The acquisition supports OSK Property’s strategy of expanding its land bank in mature growth corridors with existing infra structure in Bandar Puteri Jaya. The company said the Sungai Petani market continues to demonstrate resilient demand, particularly for affordable homes, supported by an established catchment area and growing economic activity. The development is expected to contribute positively to the group’s earnings over the medium- to long-term, reinforcing OSK Property’s commitment to building sustainable communities and delivering long-term value for stakeholders. PETALING JAYA: Dairy producer Farm Fresh Bhd posted record-high full-year earnings, demonstrating the sustained growing demand for its diverse product range and expanding regional footprint across Southeast Asia, the company said when announcing fourth quarter and annual results ended March 31, 2026 (FY2026) For the full financial year, Farm Fresh saw its revenue surpassing the RM1 billion mark for the first time. It recorded a 13.7% increase to RM1.1 billion compared to the RM981.2 million achieved in the previous financial year. This in turn supported the rise in gross profit by 16.1% to RM366.1 million. Profit before tax (PBT) increased by 24% to RM142.9 million while profit after tax (PAT) and profit after tax and minority interest (Patami) improved by 21% and 21.8%

PETALING JAYA: As artificial intelligence (AI) and robotics increasingly move into everyday life, i-Berhad’s i-City is collaborating with Mesiniaga Bhd to develop what is believed to be the world’s first Urban Intelligence Platform designed speci fically to orchestrate AI-native resi dential living. The initiative builds on i-City’s previously announced AI Living development – recognised as the world’s first AI and robotics resi dential development – by focusing on the one missing layer required to make AI-native living function cohesively: the brain behind the ecosystem. While many smart buildings today operate as collections of discon nected applications and devices, the AI Living Urban Intelligence Platform is intended to function as a unified orchestration platform that enables robotics, wellness systems, building management, security, mobility and future AI services to work together seamlessly in real time. The objective is not to expose residents to more technology, but to make technology work invisibly in the background to enhance safety, security and everyday living experiences. At the core of the collaboration is a proprietary intelligence platform de signed to coordinate multiple systems seamlessly, enabling resi dents to experience an adaptive, intuitive and integrated living environment rather than fragmented technologies and applications. o Urban Intelligence Platform will be power behind world’s first AI and robotics residential ecosystem to RM129.8 million and RM129.6 million, respectively. For the quarter under review, the group recorded improved top lines following a 12.9% increase in revenue to RM275.1 million and a 12.1% increase in gross profit to RM86.8 million compared to the respectively, marginally impacted by higher distribution costs and freight costs arising from exports to Cambodia and the Philippines. This was in addition to a one-off year-end adjustment to advertising and transport costs by the Philippine operation as well as the higher salary costs to support new Inside Scoop outlets. Managing director and group CEO corresponding period last year. Meanwhile, PBT, PAT and Patami were RM27.8 million, RM24.7 million and RM27.9 million

Lim (right) and Chua marking the strategic collaboration to develop the Urban Intelligence Platform powering the world’s first AI and robotics residential ecosystem at i-City.

packaging of their plastic bottles which impacted the supply of our flagship one-litre and two-litre fresh milk products. In response, the group has implemented several mitigation measures, including the increased production of gable top paper cartons while working closely with their suppliers to source HDPE resin from alternative markets such as China. Additionally, they will implement price adjustments for selected products by about 3% in Malaysia and 10% for Singapore which will take effect by early June to partially offset higher input costs. “These initiatives collectively have successfully restored supply stability beginning in May 2026 and are expected to ease cost pressures,” said Loi. The technology framework describes this transition as moving away from “a collection of gadgets” towards “an intelligent living ecosystem”, where a single Urban Intelligence Platform orchestrates multiple systems seam-lessly in the background. The collaboration is structured around a vendor-agnostic philo sophy, ensuring the ecosystem can evolve continuously as AI and robotics technologies advance. According to Mesiniaga deputy CEO Chua Seng Teong, the collaboration leverages Mesiniaga’s established expertise in systems integration alongside its growing AI capabilities to enable the next generation of intelligent infrastructure, AI Living

Physical AI and artificial intelligence and Internet of Things ecosystems. “AI Living marks a significant step forward from standalone smart tech nologies towards a fully integrated ecosystem where robotics, wellness, security and intelligent building services can work together seamlessly in real time to deliver enhanced safety, security and living experiences,” he added. The development of the platform is especially significant because it represents the creation of the “brain” behind seamless AI-native living. I-Berhad chairman Tan Sri Lim Kim Hong said, “In the past, buildings were designed around physical infra structure. In the future, buildings will increasingly be designed around orchestration intelligence. The real challenge is no longer whether robotics, AI wellness systems or intelligent buildings can exist independently. The challenge is enabling them to function together naturally, invisibly and reliably as part of everyday life. This is our AI Living vision.” The initiative also reflects i-City’s broader ambition to transform real estate into adaptive, software-enabled environments. Rather than treating AI as an add-on feature, AI Living is designed around the idea that intelligence itself becomes part of the operating layer of the residential ecosystem. The collaboration also reflects a broader industry transition from digitally connected buildings towards software-defined living environments powered by orchestration intelligence. As AI Living progresses towards its targeted completion in 2030, the development of the Urban Intel ligence Platform is expected to become one of the foundational technologies enabling the transition from smart buildings to truly AI native living environments.

Unlike conventional smart home ecosystems where residents manage separate apps for security, access, wellness, deliveries and automation, the platform is designed as a single inte gration layer capable of coordinating multiple technology platforms. The result is an environment where robots can move intelligently through buildings with coordinated lift and access permissions; wellness systems can automatically trigger emergency response protocols; buildings can adapt energy, lighting and ventilation dynamically based on occupancy and behavioural patterns; security systems can work proactively rather than reactively and future technologies can be integrated without redesigning the entire ecosystem.

Farm Fresh reaps record earnings for FY2026

Loi Tuan Ee said the escalation in the Middle East has introduced significant challenges to global trade flows and supply chains, particularly affecting the availability and pricing of HDPE (high-density polyethylene) resin used in the