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ITEX 2024 Sets the Stage for Innovation and Investment The stage is set, and the countdown has begun. ITEX 2024 opens its doors on 16 and 17 May to herald a new era of creativity, ingenuity and technological advancements at the Kuala Lumpur Convention Centre. This year, the exhibition held in conjunction with the World Young Inventors Exhibition (WYIE), including the Asian Young Inventors Exhibition (AYIE) and Malaysian Young Inventors Exhibition (MYIE), promises an unparalleled showcase of ground breaking inventions and cutting-edge technologies from 15 countries and regions. ITEX 2024 exemplifies Malaysia’s commitment to harnessing the power of innovation to drive economic growth and societal progress. This year, visionaries, innovators and investors will converge to explore the boundless possibilities of Science, Technology, Engineering and Mathematics (STEM). ITEX 2024 also presents opportunities for startups, corporates and research institutions to garner the attention of investors and venture capitalists. It is the ideal platform to realise the Ministry of Science, Technology and Innovation’s (MOSTI) vision to position Malaysia as the preferred regional Venture Capital hub by 2030, with close to 700 inventions spanning 25 classifications from Artificial Intelligence (AI), agriculture, automation, biotechnology, medical and more. This year ITEX details inventions built on AI platform, paving the way for the future of technology. A key thrust towards realising the Malaysian Venture Capital Roadmap (MVCR) is to nurture startups from the beginning, creating a funnel to get more unicorns for the nation. ITEX is ground zero for early-stage groundbreaking innovations poised for commercialisation. At the Opening Ceremony, MINDS President and Joint Organiser of ITEX, Academician Tan Sri Emeritus Professor Datuk Augustine S.H. Ong said: “ITEX has been a catalyst, shaping and defining the careers of inventors, researchers and scientists. It has provided them with a platform to showcase their innovations and ultimately paving the way for them to be discovered by investors and buyers to their inventions into reality”. With 80% inventions featured at ITEX already on the road to commercial success, it presents a golden pportunity for investors and venture capitalists to invest in early-stage startups, developing the nation’s funnel for more hi-tech and digital companies to drive towards the status of high-tech nation. Meanwhile, MOSTI Minister and ITEX Patron YB Tuan Chang Lih Kang said: “ITEX will be an excellent platform to introduce new innovations of which industry professional can network, build partnerships and share experiences.” With inventions presenting innovators as young as 6 years old, WYIE, AYIE and MYIE celebrate the ingenuity and creativity of tomorrow’s leaders, laying the groundwork for Malaysia’s future as a hub for innovation and entrepreneurship. “Let us remember the importance of nurturing the next generation as ITEX serves as a beacon of hope for our future, cultivating a culture of innovation and entrepreneurship among the bright minds of tomorrow” YB Tuan Chang Lih Kang added. As Malaysia charts its course towards becoming a high-tech, high-income nation, initiatives like ITEX 2024 play a pivotal role in shaping the trajectory of its economic development. By fostering a culture of innovation, entrepreneurship and collaboration, Malaysia is poised to unlock new opportunities, drive sustainable growth, and enhance the well-being of its citizens. Other key events and highlights at ITEX 2024 include: TechTalk – featuring talks by industry experts on the latest in the technology world Pitch4Fund – comprising pitching sessions that match inventors with potential funders, opening possibilities of breaking a new product into the market Visit ITEX 2024 to explore the future of innovation, investment and collaboration. For more information and to register to visit, please log-on to www.itex.com.my

As part of Malaysia Madani Economy framework, the government is prioritising manufacturing as the country new growth engine. To achieve this, it is becoming increasingly important to adopt digital technologies within and beyond the factory walls. Digitalisation in manufacturing offers numerous benefits, including improved efficiency, increased productivity, and the ability to monitor, analyse, and resolve production bottlenecks in real-time throughout the entire business process. Manufacturers are poised to move towards Industry 4.0 and smart factory transformations as they recognise them as key drivers for future competitiveness. The Deloitte 2024 Manufacturing Industry Outlook suggests that manufacturers should focus on important technology adoption trends, challenges, and preparedness factors as we approach 2024. Technology trends shaping the manufacturing industry The implementation of AI is at the core of the smart factory transformation. By analysing data from factory equipment, it enables robotics to automate manual tasks, reduce errors, and free up hours for employees to contribute to other areas, which fosters value addition. Additionally, IoT-connected sensors intelligently predict machinery maintenance requirements, thus promoting connectivity across the smart factory, standardisation and a competitive edge through precise business forecasts. These cutting-edge technologies are a significant leap forward in manufacturing capabilities and a strategic step towards a more agile, predictive, and resilient industrial landscape. Challenges and preparation for the adoption of smart manufacturing technologies While it is imperative for manufacturers to keep up with smart factory transformations, the adoption of technologies can be a daunting step. With this, partnerships between different stakeholder groups across industries play a crucial role in the successful implementation of smart factory initiatives. In today's economic climate, it can be a costly process for manufacturers to invest in infrastructure, equipment, and software. Manufacturers can explore funding options as well as scalable and cost-effective solutions such as Everything-as-a-Service (XaaS) to adopt digital transformation. For example, Lenovo's XaaS approach includes innovative financial empowerment programs, such as flexible lease-to-own options and adaptable loan structures designed to alleviate financial constraints and empower companies to invest confidently in their digital transformation. This means customers no longer need to take capital ownership of the IT assets, and instead pay for what they use each month as part of their operating expenses. The process of digitalisation may need more technical expertise for implementation. To overcome this hurdle, manufacturers can collaborate with industry experts such as Lenovo to assist them in their digital transformation journey. As a strategic technology partner, Lenovo can serve as a single point of contact for managing all IT infrastructure needs, from consultation to deployment and end-of-cycle service. With their extensive expertise in the field, Lenovo can provide manufacturers with end-to-end support for their digitalisation efforts. Ergo, it is essential to choose a technology partner with the right combination of technical experience and industry knowledge to help implement tailored manufacturing solutions that align your unique business needs. A trusted partner will collaborate with you to offer solutions that are both suitable for the present and future. *The writer is the country general manager, Lenovo Malaysia. The opinions expressed in this article are his personal views. Source: www.nst.com.my

The Indonesian Petroleum Association (IPA) is again holding the 48th IPA Convention and Exhibition 2024 with the theme "Gaining Momentum to Advance Sustainable Energy Security in Indonesia and the Region". The event will take place on 14-16 May 2024 at ICE BSD City, Tangerang. Momentum for the Revival of the Oil and Gas Industry IPA Director, Greg Holman, said that this year's Convex theme illustrates the important role of the upstream oil and gas industry in Indonesia in ensuring energy availability (energy security) in the energy transition era and Indonesia's potential for other countries in the region. "Indonesia is currently experiencing a momentum of revival with the discoveries of giant gas resources at the end of last year, thus triggering hopes for increasing oil and gas production and Indonesia's energy security and making Indonesia a global investment destination," he said at the Press Conference Road to IPA Convex 2024 , Tuesday (7/5) in Jakarta. According to him, this momentum must be used to attract oil and gas investment to Indonesia again. The government is also increasingly aggressive in supporting the development of CCS/CCUS projects in Indonesia by issuing regulations related to CCS/CCUS. "Government support for CCS/CCUS in Indonesia opens up new business opportunities in the CCS/CCUS sector and makes Indonesia a CCS Hub in Asia," he stressed. IPA Convex 2024: Discussion and Solution Forum IPA Convex 2024 invites oil and gas sector stakeholders, industry practitioners and various parties to discuss various issues. This convention is expected to produce input for the government in maximizing the oil and gas sector to support Indonesia's economic growth and achieve the energy trilemma while meeting carbon emission reduction targets. Chairman of the IPA Convex 2024 Committee, Krishna Ismaputra, said that IPA Convex will be opened by the Minister of Energy and Mineral Resources Arifin Tasrif and will present different things from previous years that can be enjoyed by people from various circles such as the Run & Walk Road to IPA Convex 2024 program. Youth @IPA Convex, Fossil x Digitalization Exhibition, Technology Session on carbon reduction technology and various Plenary and Special Sessions. Krishna said that IPA Convex 2024 also seeks to provide education and awareness to the younger generation through the Youth Program. Several programs, including IPA Goes to Campus during the pre-event, Students Meet CEOs and Students Meet IPA Board at the IPA Convex 2024 event were held to inspire the younger generation to participate in the national and global oil and gas industry. In collaboration with Dyandra Ponselndo, IPA Convex 2024 is fully supported by sponsors from national and international oil and gas companies such as: PT Pertamina Hulu Energi as Titanium sponsor; bp Indonesia, Energi Mega Persada Group, ExxonMobil Indonesia, MedcoEnergi, Mubadala Energy and Wood Mackenzie as Platinum sponsors; ADES, PETRONAS Indonesia, and SLB as Gold sponsors; as well as COSL, Harbor Energy, INPEX, and SINOPEC as Silver sponsors. "We hope that IPA Convex 2024 will become an important platform for stakeholders, industry players and the wider community to better understand the important role of the oil and gas industry in maintaining Indonesia's energy security and the environment by reducing carbon emissions," concluded Khrisna.