PETALING JAYA: Interesting developments are taking place at G3 Global Bhd.
The company’s battered down share price began to see some life two weeks ago, rising from seven sen apiece, where it has held for a long time, to double up to a high of 14 sen last week, before settling at 11 sen last Friday.
The company made a filing last Friday which showed that Datuk Seri Aminul Islam Abdul Nor (better known as Datuk Seri Mohd Amin) had emerged with a 25% stake in G3 Global, and has been made an executive director of the company.
Mohd Amin is the founder and chairman of technology firm Bestinet Sdn Bhd, which provides information technology solutions for managing foreign labour for all stakeholders.
In the filing with Bursa Malaysia, G3 said that Mohd Amin had initiated the Foreign Workers Centralised Management System (FWCMS) for the Malaysian government, an end-to-end platform that connects all stakeholders in the migrant workers management such as employers, recruitment agents in Malaysia and resource countries, governments and medical centres.
The filing also said that Mohd Amin has had more than 20 years of experience helming several companies and is well versed in project management, marketing and financial management among others and has led global teams comprising more than 2,000 employees and had managed the profit and loss accounts for business divisions with revenues exceeding RM400mil.
G3 Global also announced the appointment of another director, namely Kunal Tayal, the chief financial officer of Bestinet, as a non-independent, non-executive director of the company.
According to sources, Aminul is likely to make G3 Global his listed vehicle and has plans on making the healthcare segment a new growth driver for G3.
Signs of this had surfaced two months ago when on Sept 8, G3 Global acquired a 51% stake in Bestinet Healthcare Sdn Bhd.
Based on information on its website, Bestinet Healthcare distributes hospital and pharmaceutical products that include rapid test kits for Covid-19, canulas, syringes and needles, among others.
It isn’t clear yet if this company has secured any order from government agencies but parent company Bestinet Sdn Bhd is the developer and operator of the FWCMS which is being used by the Malaysian government and all relevant stakeholders for managing foreign workers in the country. This system is an end-to-end platform that connects all stakeholders in the migrant workers management such as employers, recruitment agents in Malaysia and resource countries, governments and medical centres.
The four main elements of the platform are security, health, compliance and welfare.
It has been reported that Bestinet has been looking to expand FWCMS to more countries around the world.
Bestinet’s FWCMS had bagged international recognition in 2017 when it won an award in the United Nations-based World Summit Awards under the government and citizen engagement category.
G3 Global had been in the news before for its planned participation in an artificial intelligence (AI) park in Malaysia.
In 2019, it inked a memorandum of understanding with SenseTime Group Ltd and China Harbour Engineering Company Ltd to set up the AI park and reports indicated that the three parties will invest around US$1bil (RM4.24bil) in the project.
G3 Global has plans to house the country’s largest hyperscale data centre in the AI, starting with three 10MW hyperscale data centres in the first phase of development, to rise up to a potential of 100MW.
However, there has been some delay in the progress of the AI park project, which observers put down to the changes of government in Malaysia which have delayed approvals.
Notably, G3 Global had also, in 2019, inked a separate collaboration deal with Sensetime to develop new AI products and solutions in Malaysia, which will see G3 promoting, and executing SenseTime’s products and technologies with the latter providing technical support and its technologies to G3.
Sensetime, China’s biggest artificial intelligence firm, has received approval from the Hong Kong stock exchange for its initial public offering that could raise at least US$1bil (RM4.24bil), Bloomberg reported.