by Ferry Bayu | Aug 18, 2023 | Business
SYCARDA, CUE Group Join Forces To Revolutionize Retail Solutions in ASEAN
SYCARDA, a Malaysian leading retail data analytics platform, has joined forces with Singapore’s digital solutions giant, CUE Group. On this year, the two companies solidified their partnership by signing a Memorandum of Understanding. This collaboration is set to revolutionize retail solutions, starting in Malaysia and Singapore, with plans to expand across Asia. The primary motivation behind this alliance is to address prevalent challenges in the retail sector, notably pilferage and sweethearting issues faced by a Malaysian grocery chain. By synergizing CUE’s advanced computer vision analytics with SYCARDA’s cutting-edge retail data analytics solution, they aim to equip businesses with profound and actionable insights, enhancing both operations and customer experience.
Retail data analytics platform SYCARDA and Singapore-headquartered digital solutions provider CUE signed an MoU on February 2 to begin an era of innovative collaboration to produce more comprehensive and effective retail solutions across Malaysia, Singapore, and eventually the rest of Asia.
Both organisations have consistently prioritised their dedication to adding value to clients’ systems and ways of working towards more dynamic retail data solutions, knowledge exchange in data analytics, visual AI, and machine learning. Upon officiating this collaboration, SYCARDA and CUE will integrate their expertise and develop a bespoke retail solution to address a Malaysian grocery chain’s pilferage and sweethearting issue.
SYCARDA’s mission is to assist traditional brick-and-mortar retailers to reduce their costs and increase their revenue in a rapidly challenging retail landscape by using data analytics and business intelligence. The platform is completely independent and can be used across most Points-of-Sale (POS) without the need for integration, which enabled SYCARDA to be deployed across 2,000 retail and food and beverage outlets across Southeast Asia.
Similarly, CUE Group’s customised and flexible commerce solutions and range of practice in various industries speak to its understanding of the value of research and development. From standardising security systems to improving the customer journey with visual AI, CUE Group’s solutions result in-depth consumer tracking and seamless transactions, spelling the difference for businesses across the food and beverage, automotive, FMCG, and pharmaceutical industries. Products such as RetailX enable retailers to improve and tailor their in-store experiences to better serve their customers, as well as to develop an accurate target audience profile that will boost precision marketing strategies.
With the rest of 2023 predicted to be a time of slow economic recovery in Asia, there is some room for market confidence with declining inflation rates. Still, with many businesses suffering an average pilferage rate of 5%, solutions more intelligent and enterprising than supply chain vigilance are required. By combining CUE’s computer vision analytics and SYCARDA’s POS data points, this partnership enables businesses to obtain more accurate and actionable insights into their business operations and customer experience.
“We see that the SME retail sector tends to go disappointingly under-served, with many of its problems unaddressed,” said Vernon Chua, CEO of SYCARDA. “What we’re hoping to create together [with CUE] is a way to see these problems and solve them pretty much as they happen – more than saving money, it’s about making businesses the best they can be and at an affordable rate that allows them to multiply their ROI.”
“We see a fellow enabler in SYCARDA and we’re optimistic about where this partnership can take the Southeast Asian market,” said Zainudin Nordin, Executive Director of CUE Group, SEA. “Neither of us is a big proponent of development for development’s sake; just as our services and solutions [at CUE] are ‘smart’ in the technological sense, we strive to also fulfill that in the business sense.”
SYCARDA is a leading retail data analytics platform designed to empower brick-and-mortar retailers in navigating the modern retail environment. The platform’s strength lies in its adaptability, allowing seamless deployment across over 2,000 retail and food and beverage outlets in Southeast Asia without the need for intricate integrations. With a focus on reducing operational costs and boosting revenue, SYCARDA offers retailers real-time, actionable insights to stay agile and ahead of market trends. Committed to innovation, SYCARDA ensures that businesses, regardless of size, have the tools and insights necessary to thrive in today’s challenging retail landscape.
See Lik Weng (Bob)
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by Ferry Bayu | Aug 16, 2023 | Business
Rice ‘sufficient’ but DTI, DA to monitor prices: Palace
MANILA — President Ferdinand Marcos Jr. on Wednesday tasked the trade and agriculture departments to closely monitor rice prices and go after hoarders and “price manipulators,” Malacañang said on Wednesday.
“Rice supply is sufficient,” Marcos said, as quoted by the Presidential Communications Office.
“Prices are, however, very variable,” he added.
The President said the government is working with the private sector to keep prices stable and continue providing affordable rice in Kadiwa stalls.
“The President will go after hoarders and price manipulators who take advantage of the lean months before harvest season,” Press Secretary Cheloy Garafil said.
The Department of Agriculture had said it would not be easy to ascertain price manipulation now that the NFA has been stripped off its regulatory function.
“Sa ngayon kasi hindi basta-basta pwedeng sabihin na price control, ano basehan natin? We are not in the position of a national emergency para mag price control,” DA spokesperson Rex Estoperez had said.
Rice price has been steadily rising in the past few months, further triggered by India’s export ban.
Marcos assured the public last week that the country would have enough rice supply until the height of the El Niño phenomenon next year.
by Ferry Bayu | Aug 16, 2023 | Business
CyberDSA 2023: Forging a Resilient Digital Future Through Unprecedented Collaboration
The highly anticipated inaugural Cyber Digital Services Defence & Security Asia (CyberDSA) 2023 commenced today at the Kuala Lumpur Convention Centre, graced by the Minister of Communications and Digital, YB Fahmi Fadzil. Embracing the theme of “Advancing Digitalisation and Security Through Collaboration,” this three-day expo, running from 15 to 17 August, seeks to create a platform for networking, idea exchange, and forging alliances that will drive the nation towards a more secure digital future.
Organised by Aerosea Exhibitions Sdn. Bhd. with robust support from CyberSecurity Malaysia and the Malaysian Armed Forces through Defence Cyber and Electromagnetic Division, CyberDSA spotlights cutting-edge cybersecurity technologies and innovations, with over 100 exhibitors demonstrating their expertise. The event encompasses keynote addresses, talks, roundtable discussions, and exhibits covering topics such as cyber defence, land & cellular network security, big data, cloud computing solutions, artificial intelligence, and blockchain technology.
“The cybersecurity landscape has witnessed a surge in increasingly sophisticated and persistent threats, and it is evident that no single entity, nor state can tackle this challenge alone,” remarked YB Fahmi Fadzil, Minister of Communications and Digital. “The theme of “Advancing Digitalisation & Security Through Collaboration” is apt, as we must unite governments, businesses, academia, and civil society to leverage collective intelligence, resources, and expertise to fortify our defences and respond effectively to cyber incidents.”
Tan Sri Asmat Kamaludin, Chairman of Aerosea Exhibitions Sdn Bhd, expressed, “We are incredibly proud to present the inaugural Cyber Digital Services Defence & Security Asia (CyberDSA) 2023. Our vision is to create a transformative platform that fosters collaboration, innovation, and knowledge exchange among cybersecurity experts, decision-makers, and industry leaders. Through CyberDSA, we aim to strengthen the cybersecurity landscape, paving the way for a more secure digital future.”
Running in parallel with CyberDSA 2023, two significant events—Siber Siaga and CSM-ACE—are underway. The annual CyberSecurity Malaysia Awards, held during gala dinner, organised by CyberSecurity Malaysia, provides a platform for cybersecurity communities to network while recognising the invaluable contributions of individuals and organisations in the field. Siber Siaga, an embodiment of the Defence Cyber & Electromagnetic Division, underscores Malaysia’s journey towards cyber sovereignty through collaboration between the Malaysia Armed Forces (ATM), industry players, universities, cyber security practitioners, and the public.
CyberDSA 2023 casts a global spotlight, facilitating high-level discussions involving over 100 international cybersecurity leaders and delegates. Prominent events include the eighth INTERPOL Digital Forensics Expert Group (DFEG) meeting 2023 and the ASEAN CYBER Defence Network committee roundtable, providing platforms for experts to exchange ideas, address challenges, and foster collaboration in digital forensics.
General Tan Sri Dato’ Sri (Dr.) Haji Zulkifeli Bin Mohd Zin (Retired), Chairman of CyberSecurity Malaysia, emphasised, “We are keenly aware of the rising cyber threats, posing significant risks to valuable information and national security. The potential economic consequences are immense, impacting both our country and the global economy. CyberDSA’s primary goal is to unite decision-makers from governments and private sectors, fostering collaboration and knowledge-sharing to create a more secure digital landscape. CyberDSA therefore plays a vital role in strengthening our cybersecurity and ensuring digital border safety.”
CyberDSA 2023 marks a pivotal step towards fortifying cybersecurity and securing our digital future. The event’s highlights include high level conferences delving into critical topics such as “Digital Transformation – Safely Full Speed Ahead” and “Winning in the Face of Financial Cybercrime”. The expo also features enlightening Flash Talks by exhibitors, notably including a key networking event, spotlight on celebrating women in digital transformation by YB Teo Nie Ching, Deputy Minister of Communications and Digital. Attendees can also engage in Technical Labs organised by Siber Siaga, offering hands-on training on topics like “Bluetooth HackMe” by Slawomir Jasek and “JupyterLab for Network Analysis” by Abd Halim Bin Mahmood.
The event also features a Hackathon Competition sponsored by Telekom Malaysia and a Special Opening Ceremony on 16 August 2023 by Siber Siaga, further amplifying the collaborative spirit of CyberDSA 2023.
Cyber DSA aspires to be the leading content-driven event, serving key stakeholders who are protecting national, public and business interests in cyberspace. It aims to connect decision makers in governments and private sectors to accelerate their cyber defence and security agenda. This event aims to impart latest knowledge and intriguing insights about cybersecurity while showcasing cutting edge technologies that would safeguard digital economies and foster global competitiveness
Cyber DSA
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by Ferry Bayu | Aug 16, 2023 | Business
Binance files for protective order against SEC
Crypto exchange Binance late on Monday filed for a protective court order against the U.S. Securities and Exchange Commission, saying the regulator’s requests for information were “over broad” and “unduly burdensome.”
BAM Trading, Binance U.S.’ operating company, and BAM Management in a court filing in the US District Court of Columbia said the group had already provided sufficient information to the regulator.
The protective order seeks to limit the SEC, among other things, to four depositions from BAM employees and to drop the deposition of BAM’s chief executive and of its chief financial officer, without naming anyone.
Binance did not immediately respond to a request for comment, while the SEC declined to comment.
U.S. regulators sued Binance and CEO Changpeng Zhao in June for allegedly operating a “web of deception,” listing 13 charges including claims the company artificially inflated its trading volumes, diverted customer funds, failed to restrict U.S. customers from its platform and misled investors about its market surveillance controls.
“The SEC has still yet to identify any evidence suggesting that customer assets were misused or dissipated in any way,” the filing said.
The SEC has declined BAM’s proposals to meaningfully limit its requests and is opposed to the motion for a protective order, the filing said.
by Ferry Bayu | Aug 16, 2023 | Business
Philippine Travel and Tourism Industry: Ready for Takeoff
A new study shows that Filipinos are now more confident about traveling internationally, despite the COVID-19 situation. However, the rising cost of travel remains a major concern.
What’s holding Filipinos back from traveling? Study reveals top concerns
The travel and tourism industry in the Philippines is a crucial driver of economic growth, the country is looking for a strong comeback after facing significant challenges during the COVID-19 pandemic.
In 2019, the industry contributed a remarkable 12.7% to the country’s GDP, amounting to PhP 2.48 trillion, and employed around 5.7 million Filipinos, making it a vital source of income for local communities.
However, the COVID-19 pandemic dealt a severe blow to the sector, causing massive disruptions and job losses over the past few years. In 2021, the sector was only able to contribute 5.2% to the country’s GDP. Tourism employment in 2021 also took a nosedive at an estimated 4.90 million, which, while higher than the 4.68 million recorded in 2020, is still significantly lower than pre-COVID numbers.
Amidst the adversity, promising signs of recovery are evident. According to a new study by Standard Insights, 76.63% of Filipinos feel safe and secure when traveling internationally despite the COVID-19 situation. Only 6.2% feel insecure about international travel this year. This resurgence of confidence signals a potential revival of the travel and tourism industry.
However, the study also revealed that the increased pricing of travel has become the biggest worry of 67.48% of Filipinos about travel in 2023, particularly with inflation and soaring commodity prices looming in the backdrop. This signifies the growing financial constraints of Filipinos, as they are now finding it more difficult to afford to travel.
Nonetheless, industry experts and government officials remain optimistic about the sector’s recovery. They are determined to capitalize on the newfound confidence among Filipino travellers and collaborate closely with businesses and the local community to rejuvenate the industry, reigniting economic growth. The collective efforts of businesses, government agencies, and the Filipino community will be vital in ensuring a successful comeback for the travel and tourism industry in the Philippines.
“The travel industry has always been a major driver of economic growth in the Philippines. However, our insights show that people are now more concerned about the rising cost of travel than they are about health and safety issues, which were a top concern last year. I am convinced that the tourism industry will rebound, and I am eager to see how the public’s opinion and behavior evolve in the coming months.” – Florian Gaudel, Founder & CEO of Standard Insights
Standard Insights is a market research firm that offers the best quality consumer insights using an innovative methodology. Our team of experts reaches real, representative respondents to give our clients the confidence they need when making important decisions about their brand’s future.
Standard Insights
Rémi Marié
Head of Digital
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