10/02/2026

BIZ & FINANCE TUESDAY | FEB 10, 2026

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AxxonAI achieves new milestone

decisions, supported by reliable, real world data. In the coming months, we will be partnering with numerous companies on different versions of our AxxonAI integrated with Agentic Function.” AxxonAI, in partnership with Sancy Bhd, one of Malaysia’s leading digital healthcare solution providers, will now enable clinicians and administrators to derive insights from patient data while maintaining absolute compliance with privacy regulations and eliminating the risk of personal identification. Under this partnership, AxxonAI’s advanced synthetic data generation and intelligence capabilities will be leveraged across the group. Sancy Bhd group managing director Prabuddha Chakravertty shared, “Through AxxonAI’s advanced synthetic data intelligence platform, Sancy Bhd is transforming how it

approaches patient care, resource allocation, and clinical decision making. The platform generates statistically accurate, regulatory compliant synthetic patient profiles that mirror real-world populations, empowering healthcare teams to optimise treatment pathways, predict critical care demands, and improve patient outcomes without ever compromising individual privacy.” Multiple versions of AxxonAI are currently under development, including implementations based on Small Language Models (SLMs) and integrations with Agentic Functions, specifically designed for SMEs in Malaysia. The team is testing and refining these domain-specific AI models to launch solutions for agriculture, automotive, BFSI, telecommunications, property, logistics, supply chain, and media & entertainment by early 2026.

within Asean. AxxonAI has also been granted Malaysia Digital status, reinforcing the company’s commitment to supporting Malaysia’s growth as a regional AI hub serving global markets. Athenatech.ai and AxxonAI founder and CEO Sonny (Soumitra) Dey said their synthetic data engine AxxonAI, proves that businesses don’t have to choose between innovation and privacy. “This technology empowers enterprises to achieve real growth while maintaining high standards of data ethics and security. AxxonAI is specifically built to meet the needs of businesses in Asia and the Asean region. Its localisation and personalised synthetic data platform, with a focus on Asean, distinguish us in the market. We aim to enable our partners to make optimal business

o Athenatech AI arm first M’sian firm to launch LLM-based synthetic data intelligence platform

KUALA LUMPUR: Athenatech AI Sdn Bhd (athenatech.ai ), one of Malaysia’s top six AI startups to watch, launched subsidiary AxxonAI, a Large Language Model (LLM) based synthetic data intelligence platform. This milestone positions AxxonAI as the first Malaysian company to offer this capability, addressing the growing challenges of data scarcity and privacy constraints faced by enterprises across the Asean region and global markets. In line with Malaysia’s aspiration to become an AI Nation by 2030, guided by the National AI Action Plan 2026–2030, Athenatech.ai and

AxxonAI are aligning their innovation efforts with national priorities set out by the National AI Office (NAIO). This alignment reflects a shared commitment to advancing next generation AI capabilities that drive productivity, innovation, and sustainable economic growth. As part of this initiative, AxxonAI is establishing a Global Delivery Centre (GDC) focused on AI training, synthetic data, and generative AI insights. The GDC aims to deliver measurable impact across key sectors while supporting Malaysia’s ambition to strengthen its AI ecosystem and progressively position the country as a trusted and competitive AI hub

Magma receives shareholders’ nod for disposal IPOH: Magma Group Bhd, a diversified investment holding group with interests in hospitality, property development and lifestyle retail, reported that its shareholders have approved the proposed disposal of the group’s entire 20% equity interest in Heritage Lane Sdn Bhd (HLSB) for a total cash consideration of RM63 million. This was approved at the EGM held yesterday. HLSB is the registered proprietor and beneficial owner of three parcels of freehold land in Seksyen 57, Kuala Lumpur totalling approximately 67,298 sq ft. The site is home to the Impiana KLCC Hotel, a purpose-built four star property featuring 519 guest rooms across a 15-storey hotel block and a 25-storey tower. The proposed disposal, executed via Magma’s wholly owned subsidiary Astaka Mekar Sdn Bhd, involves the sale of 1,000,000 ordinary shares and 1,201 preference shares in HLSB for a cash consideration of RM63 million. The consideration was determined on a willing-buyer, willing-seller basis and represents a premium of approximately 22.33% over the adjusted net asset value attributable to the 20% equity interest. Upon completion, the group is expected to realise an estimated pro forma gain of approximately RM20.06 million. The transaction is also expected to strengthen the group’s balance sheet and improve the basic loss per share from 4.7 sen to 2.62 sen on an illustrative basis. The RM63 million gross proceeds are intended to be utilised as follows: RM45 million for the repayment of existing term loans and factoring facilities, RM12 million for investment in the group’s existing businesses, RM4.17 million for general working capital requirements, and RM1.83 million to defray estimated expenses in relation to the proposed disposal. The repayment of RM45 million in borrowings is expected to yield approximately RM3.9 million in annual interest savings based on prevailing effective interest rates. The transaction forms part of the group’s ongoing efforts to strengthen its capital structure and financial position. By monetising a non controlling investment, Magma enhances liquidity and reinforces its ability to support its existing hospitality and property-related businesses. The proposed disposal remains subject to the fulfilment of the conditions precedent under the sale and purchase agreement, including the written approval of the Economy Ministry, which is to be obtained by the purchaser. Completion is expected to take place within three months of the fulfilment of the conditions precedent.

Heineken Malaysia leads in holistic water management PETALING JAYA: Heineken Malaysia has been recognised in the Nature & Biodiversity category at the Forward Faster Sustainability Awards 2026 (FFSA 2026), organised by the UN Global Compact Network Malaysia & Brunei (UNGCMYB), for its holistic water management approach that improves operational efficiency while advancing watershed protection.

As part of its Towards Healthy Watersheds initiative, Heineken Malaysia has improved water efficiency by 21% since 2014 at its Sungai Way Brewery, while treating wastewater to standards that exceed the requirements set by the Department of Environment. Beyond the brewery, the company has established long-term public– private partnerships through its corporate responsibility arm SPARK Foundation, working in close collaboration with NGOs and local communities, and in support of government agencies, to implement watershed rehabilitation initiatives under its W.A.T.E.R Project (Working Actively Towards Education and Rehabilitation). Since 2007, Heineken Malaysia has invested RM16 million in protecting water resources, recognising that water is essential not only for environmental health but also for social well being, community health, and resilience. Through awareness programmes and investments in nature-based solutions such as river rehabilitation and reforestation, the company aims to support long-term water security across Sungai Way, Sungai Penchala, and the Sungai Selangor basin. A key success story under the W.A.T.E.R Project is the transformation of the Sungai Way River, which has improved from heavily polluted (Class IV–V) to Class III, enabling it to support aquatic life once again. Through SPARK Foundation, the company has also

Heineken Malaysia has invested RM16m since 2007 to protect water resources and strengthen long-term water security. – BERNAMAPIX

Unlike a conventional physical power purchase agreement, a virtual power purchase agreement was a financial contract linked to renewable energy generation. Through this mechanism, Kinergy delivered renewable electricity to the national grid, while the corporate consumer secured the associated environmental attributes and a financial hedge tied to the renewable output. Safran’s Malaysian operations have already achieved an estimated 27% net reduction in emissions compared with their 2018 baseline, supported by on-site solar installations, waste energy utilisation and efficiency upgrades at its Sendayan TechValley facility. – Bernama watershed protection, and community engagement to support long-term water security for our business and the communities in which we operate.” In addition to the FFSA 2026 recognition, Heineken Malaysia was also named a 3-Star Lister on UNGCMYB’s ESG Select List 2025, reflecting continued progress across key environmental priorities including water stewardship, climate action, and circular resource management.

constructed a 305m clay dyke within a peat swamp forest and reforested 3ha of degraded peatland at the Sungai Selangor river basin to increase water storage capacity by raising the peatland water table, contributing to peatland stability and long-term ecosystem resilience. Speaking on the recognition, managing director Martijn van Keulen said: “A healthy watershed is at the heart of our water strategy. By managing water both internally and externally, we integrate operational efficiency,

Kinergy secures hydropower virtual PPA with Safran KUALA LUMPUR: Sustainable energy solutions provider Kinergy Advancement Bhd has signed a corporate virtual power purchase agreement (VPPA) with Safran Landing Systems Malaysia to leverage hydropower assets to provide a stable, dispatchable green energy supply. objectives and set a scalable model for corporates to procure baseload green energy in line with internationally recognised reporting standards,” it said in a statement yesterday.

Kinergy executive deputy chairman and group managing director Datuk Lai Keng Onn said that many multinational corporations in Malaysia want to go green faster than the physical infrastructure allows. “By executing this hydropower-anchored VPPA with Safran, we demonstrate an ongoing commitment to growth and continuity, building on previous renewable energy initiatives,” he said.

Kinergy said the VPPA, executed through its energy subsidiary KAB Energy Holdings Sdn Bhd, covers the generation of renewable electricity with an annual output between 80 and 108 gigawatt-hours over a 21-year tenure from the commercial operation date, with an option to extend. “Kinergy can support Safran’s green index