CBA Group Signs MoU With TOJOY, Aims To Explore AI & Drone Sectors
The MoU also aims to explore potential opportunities in Malaysia and across Southeast Asia, positioning the region as a hub for technological innovation.
By MyGameOn
CBA Global Holdings (CBA Group), a Malaysian company, signed a Memorandum of Understanding (MoU) with TOJOY Enterprise Services Group (TOJOY)
TOJOY is a global leader in resource-sharing platforms and entrepreneurial data, specializing in accelerating the development of innovative businesses and transforming traditional enterprises.
Over the years, TOJOY has played a significant role in helping startup companies grow into "unicorns," leveraging its expertise in innovation and business transformation.
The MoU aims to explore potential opportunities in Malaysia and across Southeast Asia, positioning the region as a hub for technological innovation.
The ceremony was attended by Datuk Mohd Nazifuddin Najib, Chairman of CBA Group Malaysia and Hong Kong; Winson Ching, Founder of CBA Group Hong Kong; and Ge Jun, Chairman of the Board and Chief Executive Officer (CEO) of TOJOY.
For this MoU, CBA Group appointed Baze Yeoh, the CEO of CBA Group Global Holdings Malaysia, signaling an important step in their innovation collaboration as well as expanding market reach.
"CBA Group chose TOJOY because of its proven experience in helping startups transform into unicorns, companies with high economic value" - Mohd Nazifuddin
He added that through this MoU, CBA Group is interested in exploring potential in the fields of artificial intelligence (AI), drones, and new technologies not only for the Malaysian market but for other regions as well.
“We are collaborating with them to identify existing technologies that are suitable for the Malaysian and Southeast Asian markets.
“Most (companies from China) have yet to adapt their technologies for markets outside of China, so they need a strategic partner.
“We hope that Malaysia will become a hub for them to enter other markets, especially Southeast Asia and the Middle East.
“We’ve also seen AI being used by many applications, where AI is used as a platform for learning, replacing traditional teaching methods,” he said.
Meanwhile, Ge Jun, sees the country as having many advantages, particularly in terms of raw materials and manufacturing technology.
He believes that collaborating with CBA Group is the right decision because Malaysia serves as a stepping stone for them to explore a broader market.
“For the past few months, we have been in intensive discussions. They came to Beijing and experienced firsthand the success of our platform in developing innovative companies into unicorns.
“The ASEAN market is very important to us. ASEAN is now China’s largest trading partner, replacing Europe and the United States. Malaysia will also lead the ASEAN countries for the next five years.
“Having a business here will greatly help us explore the Southeast Asian market. Malaysia itself has its own strengths in terms of resources. China needs natural resources, as well as strong capabilities in manufacturing and semiconductors,” he said.
