MAVENIR FEATURED IN FOUR LEADING LIGHTS AWARD-WINNING ENTRIES

 

KUALA LUMPUR, Sept 15 (Bernama) -- Mavenir, a cloud-native network infrastructure provider, was featured in four award-winning entries at Light Reading’s 2026 Leading Lights Awards, recognising its work in non-terrestrial networks, cloud-native core innovation, network modernisation and energy efficiency.

Mavenir received awards in two categories, including Most Innovative Satellite or Non-Terrestrial Network Product or Solution for its Full-Stack NTN Platform and Outstanding Use Case: IoT, jointly with Deutsche Telekom IoT GmbH, for Remote Packet Core for Connected Cars.

In a statement, Mavenir President and Chief Executive Officer, Pardeep Kohli said the awards highlighted the company’s efforts to address connectivity challenges through cloud-native technology and collaboration with customers.

The Full-Stack NTN Platform supports satellite-terrestrial integration across geostationary orbit (GEO), medium Earth orbit (MEO) and low Earth orbit (LEO) environments, supporting 3G through 5G services on a converged core architecture.

The Remote Packet Core solution enables the control plane to remain in Europe while providing localised traffic breakout in North America, addressing latency, transit costs and data sovereignty requirements. The production deployment supports connectivity for well over one million connected vehicles globally.

Mavenir also served as a technology partner in two award-winning Deutsche Telekom initiatives, including the Outstanding Use Case: Network Modernisation & Automation award for the Horizontal Telco Cloud initiative.

The initiative replaced fragmented network systems with a shared cloud-native platform across more than 10 data centres in Germany, with Mavenir contributing cloud-native solutions, including a converged 4G/5G packet core and network slicing applications.

Mavenir was also a technology partner in Deutsche Telekom’s Full Stack Energy Efficiency initiative, which won the Outstanding Use Case: Energy Efficiency & Sustainability award. The initiative achieved up to 65 per cent off-peak energy savings in the 5G core network without a hardware refresh.

Mavenir said its cloud-native 5G Core software and energy-aware automation capabilities enabled dynamic resource scaling to reduce energy consumption and carbon dioxide emissions while maintaining network performance.

-- BERNAMA

MONEYHERO REPORTS US$15.8 MLN Q2 REVENUE

KUALA LUMPUR, Sept 14 (Bernama) -- MoneyHero Limited (MoneyHero), a technology- and artificial intelligence (AI)-powered personal finance aggregation and comparison platform, reported revenue of US$15.8 million in the second quarter (Q2) of 2026, down 13 per cent year-over-year (YoY). (US$1=RM4.06)

The company posted a net loss of US$1.2 million for Q2, compared with a net profit of US$0.2 million a year earlier, mainly due to foreign exchange (FX) differences, which swung from a US$3.0 million gain to a US$0.1 million loss.

In a statement, the company said adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss narrowed 17 per cent YoY to US$1.6 million.

MoneyHero said total transaction value remained flat YoY at US$20.9 million in Q2, while cash rewards provided to platform users increased by 77 per cent YoY to US$5.1 million. The increase in cash rewards formed part of its strategy to attract higher-intent customers, with Hong Kong and Singapore remaining its core markets.

Revenue from higher-margin Wealth and Insurance products rose to US$4.7 million in Q2, accounting for 30 per cent of total revenue, compared with 27 per cent in the same quarter last year. Revenue from Credit Cards declined 18 per cent YoY to US$8.9 million.

Cost of revenue fell 17 per cent YoY to US$7.6 million in Q2, accounting for 48 per cent of revenue, while combined cost of revenue, advertising and marketing, technology, employee benefit, and general administrative and other operating expenses declined 12 per cent to US$18.2 million.

Technology costs fell 50 per cent YoY to US$0.5 million, which MoneyHero attributed to continued platform consolidation and artificial intelligence (AI)-driven automation of engineering and operational workflows.

During Q2, MoneyHero advanced several partner-led initiatives and broadened its product offerings. In Singapore, it secured exclusive partnerships with two of the country’s largest retail banks, while in Taiwan it launched a KOL pilot with a local bank to test a more targeted, partner-led customer acquisition model. In Hong Kong, it is broadening its online life insurance offering to include critical illness coverage.

MoneyHero ended the quarter with a healthy, debt-free balance sheet, with US$28.2 million in cash and cash equivalents and US$32.6 million in net current assets as at June 30. Its MoneyHero Group Members base also grew 17 per cent YoY to 10.1 million.

Looking ahead, MoneyHero said it remains focused on converting structural efficiency gains into full-year adjusted EBITDA improvement while advancing product expansion, AI initiatives and other strategic growth programmes.

-- BERNAMA

AM BEST: REGULATORY INITIATIVES, ECONOMIC EXPANSION DRIVE MALAYSIA’S NON-LIFE GROWTH

KUALA LUMPUR, Sept 10 (Bernama) -- AM Best has maintained a stable outlook on Malaysia’s non-life insurance segment, citing regulatory initiatives and economic expansion, which are driving robust premium growth and increasing insurance penetration.

The stable outlook on Malaysia’s non-life segment is also supported by de-tariffication of motor and fire insurance, as well as measures curbing medical inflation. However, it remains vulnerable to developments in the external environment.

The Best’s Market Segment Report, “Market Segment Outlook: Malaysia Non-Life Insurance”, stated that motor and fire insurance anchor the market, together accounting for more than 65 per cent of total non-life premiums.

In a statement, the global credit rating agency said pricing has progressively shifted towards a more risk-based approach since phased liberalisation of tariffs for these lines began in July 2016.

Over time, AM Best expects de-tariffication to drive product innovation, improve service quality, align pricing with underlying risks and enhance market efficiency, although it may pressure underwriting margins over the intermediate term.

“Malaysia’s non-life insurers continue to maintain healthy underwriting profits through disciplined underwriting and effective pricing strategies, supporting the industry’s long-term sustainability,” said AM Best senior financial analyst, Sin Yee Chuah, adding that the segment remains poised for continued growth.

The rating agency added that Malaysia’s non-life segment reported an improved underwriting profit in 2025, with a healthy combined ratio in the low-to-mid-90 per cent range, reflecting sustained underwriting discipline that supported profitability.

Malaysia’s economy continues to be supported by resilient domestic demand, particularly household consumption and investment, while strong demand for electrical and electronics exports and continued investment in data centres provide additional support.

The report also noted that a pilot phase of the recently introduced RESET Strategy, which introduced a standardised base medical and health insurance/takaful plan with a co-payment feature, is targeted for the second half of 2026, with full rollout expected by early 2027.

In addition, climate change is projected to increase the frequency and severity of extreme weather events, presenting floods as a persistent tail risk for insurers and exposing the segment’s profitability to greater volatility.

-- BERNAMA

AM BEST RETAINS STABLE OUTLOOK FOR TAIWAN NON-LIFE INSURANCE

KUALA LUMPUR, Sept 3 (Bernama) -- Global credit rating agency, AM Best has maintained a stable outlook on Taiwan’s non-life insurance segment amid the implementation of Taiwan Insurance Solvency (TIS), IFRS 17, and consistent premium expansion across retail and commercial lines.

Also underpinning the stable outlook are non-life insurers’ conservative asset allocation and moderate equity exposure, which should help protect their overall profitability in the event domestic stock market volatility impacts the segment’s investment results.

According to the Best’s Market Segment Report, “Market Segment Outlook: Taiwan Non-Life Insurance”, implementation of TIS and IFRS 17 enhances cross-market comparability and elevates the strategic importance of capital management and earnings volatility analysis.

In a statement, AM Best said TIS has had a limited impact on the segment’s overall capitalisation, although market-risk capital requirements have increased moderately.

Meanwhile, the transition to IFRS 17 has been favourable to the segment’s reported capital position, with industry-wide reported shareholders’ equity increasing by approximately 10 per cent at year-end 2025.

Taiwan’s non-life insurance market remains mature and competitive, with demand for commercial lines coverage growing, supported by investments in high-technology manufacturing plants, renewable energy projects, and major infrastructure development.

The credit rating agency added that Taiwan’s non-life insurers are increasingly using artificial intelligence (AI) and data analytics to streamline underwriting, automate claims processing and detect fraud.

“AI adoption among Taiwan’s non-life insurers is likely to remain gradual and tightly controlled, with insurers prioritising internal operational and risk management tasks while maintaining continued oversight over customer-facing decisions,” said AM Best director of analytics, James Chan.

These changes should enhance operating efficiency, refine risk selection and help insurers better manage losses over time.

-- BERNAMA

NBA MVP RUSSELL WESTBROOK JOINS PROJECT B AS CHIEF STRATEGY OFFICER

Russell Westbrook Announced as Co-Founder and Chief Strategy Officer of Project B

KUALA LUMPUR, Sept 3 (Bernama) -- Project B announced that NBA Most Valuable Player (MVP) Russell Westbrook has joined the company’s founding team as Chief Strategy Officer, taking an active role in shaping its basketball strategy and long-term vision.

Westbrook, who is also a Co-Founder, holds an ownership stake in Project B and has joined its Board of Directors. His role extends to strategic partnerships and creates opportunities to collaborate with companies and initiatives across his broader business portfolio as the business grows globally.

“Russell brings an extraordinary combination of basketball intelligence, business ownership, cultural relevance and global reach. As co-founder, he will help shape both the game and the company as we expand the future for basketball globally,” said Project B Co-Founder and Chief Operating Officer, Grady Burnett in a statement.

Meanwhile, Westbrook said: “With Project B, we are challenging the norm and bringing a new vision to the intersection of premium sport, culture, and entertainment. We are reimagining the experience with players not only as key value drivers but also as shareholders and decision makers.”

The announcement is Westbrook’s first major business move since the end of his 18-year NBA career. He has spent more than a decade building a global business portfolio through Russell Westbrook Enterprises, with investments across technology, digital media, consumer businesses, real estate, sports and community infrastructure.

Project B’s launch comes as the economics of global sports are changing rapidly. The company is building a global grand prix that brings elite basketball and live entertainment to major basketball markets worldwide.

Launching in January 2027, tournaments will move through host markets across Asia, Europe and the Americas, turning each stop into a week-long festival of sport, entertainment and culture, with unprecedented access to players and unique storytelling opportunities. The tournaments will be streamed live on YouTube.

Westbrook’s mandate will also create additional collaboration between Project B and his broader ecosystem, including opportunities across media, consumer products and community programming. Additional partnerships will be announced separately.

-- BERNAMA

 

BOOMI ACCELERATES BAKERS DELIGHT’S DIGITAL ROLLOUT

Bakers Delight Modernises Digital Marketing Systems and Accelerates Deployment Times With Boomi

KUALA LUMPUR, Sept 2 (Bernama) -- Boomi, the data activation company for artificial intelligence (AI), announced that Bakers Delight has modernised its digital marketing systems using the Boomi Enterprise Platform, significantly reducing the time required to roll out new systems.

In a statement, Boomi said the deployment has also given the Australian-owned bakery franchise greater agility to respond to changing market conditions.

Boomi Chief Technology Officer (CTO), APJ, David Irecki said Bakers Delight’s approach demonstrates how integration can serve as a strategic business capability to accelerate innovation and improve agility.

Meanwhile, Bakers Delight CTO, Keng Ng said the company needed a foundation that could support rapid, low-cost deployment of new systems while eliminating the cost and complexity of repeatedly re-engineering integrations.

The company, which operates more than 700 stores across Australia, New Zealand, Canada and the United States under the Bakers Delight and COBS Bread brands, is preparing for a major technology renewal in early 2027.

Bakers Delight implemented Boomi’s Data Hub and API Management capabilities across customer, product, store location, promotion, coupon and order processes, creating a reusable integration architecture that connects its digital marketing platforms without requiring major changes to core enterprise resource planning and point-of-sale systems.

The reusable architecture helped accelerate deployments of Klaviyo, Shopify and Talon.One, which went live in three, four and nine months respectively across the company’s global franchise network. Centralised integration and master data also enabled Bakers Delight to respond quickly to cost fluctuations in early 2026 by revising prices consistently across systems.

Boomi’s consulting support helped establish the integration programme, while the company’s internal data engineering capabilities and technology vendors supported subsequent implementations.

The integration platform is expected to support further digital expansion by enabling richer enterprise data collection and laying the foundation for the use of AI and AI agents across the business.

-- BERNAMA

PEREGRINE COLD LOGISTICS ENTERS INDONESIA WITH JOINT VENTURE

KUALA LUMPUR, Sept 1 (Bernama) -- Peregrine Cold Logistics (Peregrine), Asia’s unified cold storage and logistics platform, has entered Indonesia through a joint venture with Indonesian real estate developer Sinar Primera to acquire and develop tier-one cold storage assets across the country.

The partnership combines the acquisition of an existing Sinar Primera-owned facility in Pluit with a new greenfield development in Narogong, expanding Peregrine’s cold chain footprint in Southeast Asia’s largest economy.

Peregrine co-founder and chief executive officer, Jeff Hogarth said the Indonesia entry marks a significant milestone in the company’s strategy to build an integrated international cold chain platform.

“Our objective is not simply to build capacity in Indonesia, but to connect the market into our broader ASEAN and Gulf Cooperation Council (GCC) network, creating a more integrated logistics solution for customers and a platform for long-term growth across the region,” he said in a statement.

Meanwhile, Sinar Primera Group head, Hong Kah Jin said the partnership combines Peregrine’s cold chain expertise and international client base with Sinar Primera’s local market execution and infrastructure capabilities, supporting Indonesia’s growing demand for temperature-controlled infrastructure.

The partnership builds on Peregrine’s existing cold chain platform in the Philippines and is aimed at addressing rising demand for modern cold storage infrastructure in Indonesia, driven by rising incomes, urbanisation and increasingly sophisticated food and retail sectors.

The Pluit facility is strategically positioned to serve customers across northern and western Jakarta, while the new Narogong facility will feature semi-automated freezer and chiller capacity meeting global standards and anchor a hub-and-spoke network.

Together, the facilities are expected to support food producers, importers and exporters, fast-moving consumer goods (FMCG) companies and quick-service restaurant (QSR) chains, while strengthening food safety and security across Indonesia’s supply chains.

The joint venture will leverage Sinar Primera’s local market development expertise, land access and execution capabilities alongside Peregrine’s international cold chain network and operational experience to scale its Indonesian platform.

-- BERNAMA