LREIT REPORTS 11.4 PCT RETAIL RENTAL REVERSION IN 1Q FY2025

KUALA LUMPUR, Nov 12 (Bernama) -- Managed by Lendlease Global Commercial Trust Management Pte Ltd (Manager), Lendlease Global Commercial REIT (LREIT), has posted a positive rental reversion of 11.4 per cent in its first quarter (1Q) business update for fiscal year 2025 (FY2025).

LREIT, in a statement, said its portfolio committed occupancy continued to improve in 1Q FY2025 to 89.5 per cent from 89.1 per cent in the fourth quarter for fiscal 2024 (FY2024).

In the first three months of FY2025, the lease expiry profile remained well-staggered, with 6.4 per cent by net lettable area (NLA) and 12.1 per cent by gross rental income (GRI) due for renewal in FY2025.

LREIT has maintained a long portfolio weighted average lease expiry (WALE) of approximately 7.4 years by NLA and 4.7 years by GRI, respectively.

The committed occupancy for its retail portfolio remained high at 99.9 per cent, with a positive rental reversion of 11.4 per cent and a healthy tenant retention rate of 90.0 per cent as at Sept 30. Tenant sales in 1Q FY2025 continued to trend above pre-COVID-19 average levels.

Notwithstanding the high occupancy rate, the Manager stays focused on strengthening the tenancy mix and bringing in new offerings to rejuvenate the malls. New tenants brought onboard include Tims Signature, Eclaire & Savoir Cafe and Slow Green.

As at Sept 30, office tenants accounted for approximately 21 per cent of portfolio GRI with a long WALE of 12.2 years by NLA and 14.5 years by GRI.

The Manager continues to see good leasing interests for Building 3 of Sky Complex. For the quarter, committed occupancy rate for Sky Complex improved to 75.0 per cent and the Manager is in advanced negotiations with potential tenants as it continues to drive leasing of Building 3 at market rental.

Meanwhile, interest coverage ratio (ICR) as at the period end was 2.9 times, providing a sufficient buffer from its debt covenants of 2.0 times. Approximately 70 per cent of borrowings are hedged to fixed rates as at Sept 30 with a weighted average cost of debt of 3.74 per cent per annum, mainly due to the replacement of EURIBOR interest rate hedge at a higher rate in October 2023.

Moreover, LREIT achieved first position in GRESB Asia Retail (Listed) category for five consecutive years since listing for its environmental, social and governance (ESG) performance and strong leadership in sustainability.

-- BERNAMA

HCLTECH INTEGRATES AI FORCE WITH GITHUB COPILOT TO ENHANCE SOFTWARE DEVELOPMENT LIFECYCLE

KUALA LUMPUR, Nov 11 (Bernama) -- HCLTech, a global technology company, has launched its AI Force extension for GitHub Copilot on the Visual Studio Marketplace, the world’s most widely adopted artificial intelligence (AI) developer tool.

“With the AI Force extension, our clients will achieve benefits beyond enhanced coding experiences such as improved efficiencies, greater productivity and time-to-market acceleration.

“This integration helps them reduce technical debt and develop better quality software that is easier to maintain,” said HCLTech Senior Vice President and Global Lead, GenAI Practice, Apoorv Iyer in a statement.

This integration aims to streamline software development workflows, enhance developer flexibility and optimise code performance, positioning HCLTech among the first India-headquartered technology service providers to collaborate with Microsoft for creating a GitHub Copilot Extension.

Through its AI Force, the company aims to help clients automate tasks and incorporate intelligence throughout every phase of the engineering lifecycle.

Integrated with GitHub Copilot Chat, the HCLTech AI Force extension enhances extensibility and covers a broad range of use cases, including legacy modernisation, migration, development, development operations (DevOps), automation, support, operations, continuous feedback, and end-to-end benefits measurement.

-- BERNAMA

URGENT CALL FOR TRANSPARENCY AS INDUSTRY, POLICY MAKERS CONFRONT WITH FOOD POLYCRISIS - ATNI

KUALA LUMPUR, Nov 8 (Bernama) -- One in five deaths globally is associated with a poor diet, while one out of eight adults are affected by obesity as revealed by Access to Nutrition Initiative (ATNi) in its latest findings.

The fifth edition of the Global Access to Nutrition Index, the largest yet, found that 150 million children are too short for their age because of poor nutrition, and close to a third of women of reproductive age, and half of children, consume inadequate micronutrients.

In a statement, ATNi said the index assessed the world’s 30 largest food and beverage manufacturers and over 52,000 products, representing 23 per cent global market share.

ATNi Executive Director, Greg S. Garrett said: “'Health is wealth'. We know this is true, but most food companies have not yet placed nutrition as core to their business. There is progress, but our findings show overall subpar performance and weaknesses in the market.”

More companies are setting targets to improve their portfolio healthiness, now using internationally recognised Nutrient Profiling Models (NPMs) to classify products as ‘healthier’ but, overall, there have been only marginal improvements in key metrics such as healthiness of product portfolios.

Concurrently, the estimated sales values of company’s healthier products have increased, showing consumers are increasingly purchasing healthier products. Worryingly, product portfolio healthiness was found to be lowest in low-income countries, highlighting disparities in product offerings across different markets and income groups.

Hence, ATNi calls on companies to voluntarily stop marketing to children under 18, improve product portfolio healthiness and fully disclose sales from healthy and unhealthy products using an internationally recognised NPM.

Meanwhile, governments are urged to regulate and build an enabling environment that helps companies protect public health. Well-designed fiscal policies are also needed to make healthier foods more affordable and less healthy foods more expensive.

Responsible investors play a key role in holding companies accountable by investing in those that act ethically, taking into account the long-term financial costs of ill health caused by the current food environment and products.

-- BERNAMA

LRN Corporation Bags Best Compliance Training Initiative In Fraud And Financial Crime

KUALA LUMPUR, Nov 5 (Bernama) -- LRN Corporation, a global leader in ethics and compliance solutions, has won the Best Compliance Training Initiative/Provider in the Fraud and Financial Crime category at the prestigious seventh annual Regulation Asia Awards for Excellence.

Presented in Singapore, the award recognising LRN’s commitment to transforming compliance training through its innovative, comprehensive software as a service (SaaS) platform, LRN Catalyst.

“Receiving this accolade from Regulation Asia underscores LRN’s commitment to excellence in compliance training, especially in the Asia Pacific region, which is an incredibly dynamic and evolving market for ethics and compliance.

“This recognition highlights our dedication to creating impactful solutions that address today’s most pressing regulatory challenges,” said LRN senior vice president, APAC, Dean Rogers in a statement.

This year’s Regulation Asia Awards saw a record 190 submissions, evaluated by a distinguished panel of senior industry experts and Regulation Asia’s editorial teams.

Amid this intense competition, LRN stood out for its ethics & compliance training and management platform, LRN Catalyst, which equips organisations worldwide with powerful tools for building strong compliance cultures.

The Regulation Asia Awards for Excellence celebrates the efforts of leading financial institutions, market infrastructures, technology firms, service providers, advisory firms, and industry bodies across Asia Pacific (APAC).

This awards programme is recognised as the most rigorous and comprehensive awards focused on the APAC risk, regulatory, and compliance community.

This accolade follows LRN’s recent success at the Brandon Hall Group HCM Excellence Awards, where the company won five awards. These achievements collectively reinforce the company’s leadership in advancing ethics and compliance education and its unwavering commitment to helping organisations foster principled performance.

-- BERNAMA

PANGEA LAUNCHES TWO NEW ADVANCED MATERIALS

Pulvera & Verita Offer Industry-Leading Luxury with Reduced Environmental Impact 


ROCHESTER, Mich., Nov 6 (Bernama-GLOBE NEWSWIRE) -- Pangea, a leading innovator in sustainable materials for the automotive industry, proudly announces the launch of two groundbreaking products: Pulvera and Verita. These advanced automotive leathers represent a bold step in Pangea's ongoing commitment to sustainability and responsible manufacturing practices, aligning with the company's vision of creating eco-friendly materials that meet the needs of a changing world.

In 2024, Pangea's global teams set out to design a new class of leather materials specifically for the automotive industry. These products are not only nearly 90% bio-based in their finished state but also actively divert materials from landfills, dramatically reducing waste in an innovative way.

“Nothing Replaces Real: Charting the Path to a Zero-Waste Future”
As part of the Pangea Corporate Trend Show series, Pangea introduced "Chart the Path," a key chapter in the company's sustainability journey. Engaging with customers, Pangea outlined how durable, natural materials are transforming the automotive industry while aligning with global sustainability goals. The highlight of the series was the launch of Pulvera and Verita, two new product offerings that set new benchmarks for lower environmental impact, innovative recycled chemistry, and reduced Global Warming Potential (GWP).

Introducing Pangea Pulvera: Ecological Leather with a Circular Process
Pulvera is a full-bodied leather that embraces a circular manufacturing process. By incorporating a recycled compound made from buffing waste, Pulvera significantly reduces its environmental footprint. This unique process, which utilizes water and renewable energy, transforms leather waste into a valuable resource that replaces nearly half of the chemicals used in dyeing and softening the leather.

• Renewable Chemistry: 29% of all chemicals used
• Recycled Chemistry: 37% in the retanning process; 16% of all chemicals overall
• Environmental Impact: Global Warming Potential (GWP) impact up to 40% lower than traditional retanning processes

Pulvera stands out as a luxurious, sustainable material that exemplifies Pangea's commitment to eco-friendly innovations in automotive interiors.

Introducing Pangea Verita: Lavish, Compostable Leather with Low Environmental Impact

Pangea Verita elevates the art of leather craftsmanship by creating a compostable substrate through an alternative metal-free tanning process. This semi-aniline material highlights the natural beauty of the animal hide with minimal coating, emphasizing its unique characteristics while maintaining a lower environmental footprint.

• Renewable Chemistry: 45% of all chemicals used
• Global Warming Potential (GWP): Up to 12% lower than standard chrome-tan substrates
• Biogenic Carbon: 92% bio-based as a finished product

Verita's innovative design and sustainable chemistry enable a higher biogenic carbon content, enhancing its alignment with a circular economy and reducing its overall impact on the environment.

Building a Sustainable Future with Bio-Based Materials
Pangea's new products, Pulvera and Verita, showcase how high bio-based content materials can revolutionize the automotive industry without compromising performance. With traditional Pangea leathers already achieving 80-85% bio-based content, Pulvera and Verita push these boundaries further, reaching up to 92% bio-based in their end products.

These advancements reinforce Pangea's belief that leather, as a natural and highly renewable material, plays a vital role in creating a more sustainable future for the automotive industry. By increasing the use of bio-based resources, Pangea is dedicated to reducing the carbon footprint of its products and contributing to a healthier planet.

About Pangea

Pangea is a global leather supplier to the world’s leading automotive brands, providing sustainable solutions that drive the future of interiors. Headquartered in Rochester Hills, Michigan, Pangea serves its customers on four continents with 3,000 team members. For more information, visit www.pangeamade.com, and follow us on LinkedIn.

Media Contact

Jacquelyn Smith, Pangea
248-436-2200
jsmith@pangeamade.com


Media Attachments 

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/f2c32e02-b825-4e44-b87b-5fcfbc759fb9

https://www.globenewswire.com/NewsRoom/AttachmentNg/cfcc917f-8319-4571-abc1-dcaf4ace7bd1

https://www.globenewswire.com/NewsRoom/AttachmentNg/15726cd1-c6fc-4161-ba24-17c08a2649d8

A video accompanying this announcement is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/0f84f732-42fd-47eb-8f17-dd74c3bfdb4a    


SOURCE : Pangea

18TH GLOBAL CITIZENSHIP CONFERENCE TO BE HELD IN SINGAPORE

LONDON, Nov 5 (Bernama-GLOBE NEWSWIRE) -- More than 400 delegates from over 50 countries are expected to attend the 18^th annual Global Citizenship Conference, which takes place 27–29 November in Singapore.

Hosted by world-leading international citizenship and residence advisory firm Henley & Partners, this annual event has become the world’s largest and most significant conference on investment migration, bringing together presidents and prime ministers, other senior government ministers and officials, and leading academics, as well as top-tier private client advisors and wealth management professionals, and financial and business media.

The 2024 conference program features sophisticated content on the dynamics shaping the mobility options of wealthy families today. The conference will explore legal and economic developments and their implications, societal impacts relevant to global citizens, and trends in investment and wealth migration, along with regulatory and tax changes and the evolving concept of citizenship. Delegates will have the opportunity to engage with some of the world’s finest minds and latest ideas around global citizenship and interconnectivity and discover how to harness the power of global mobility.

Dr. Christian H. Kalin, Group Chairman of Henley & Partners, emphasizes the timely relevance of connecting across borders as global citizens. “The Great Wealth Migration, as we call it, reflects a global trend fueled by geopolitical instability, economic uncertainty, the climate crisis, and technological disruption. Wealthy individuals are increasingly recognizing that, in an interconnected world, relying solely on any one nation as a place of residence or citizenship — even a prosperous, democratic one — can be a risk they are no longer willing to take. As they consider their options, however, there is a crucial opportunity to reflect on the broader implications of their decisions. How can wealth be used not only for personal advantage but also to create positive social impact? Global citizenship, at its core, is the belief that we have responsibilities that extend beyond our own borders — to our communities and to the world as a whole. This conference seeks to broaden our perspectives through shared global learning, empowering us to drive meaningful change on both a local and a global scale.”

Notable key speakers at the conference include the Hon. Dickon Mitchell, Prime Minister of Grenada, and the Hon. Dr. Terrance Drew, Prime Minister of St. Kitts and Nevis. The Hon. Mohamed Nasheed, former President of the Maldives and current Secretary-General of the Climate Vulnerable Forum, will also share his insights along with senior government officials from Indonesia, Montenegro, and the South Pacific.

Legendary global investor and best-selling author, Jim Rogers, will offer his perspective on global financial trends. Other distinguished speakers include Dr. Parag Khanna, Founder and CEO of Climate Alpha, Prof. Mehari Taddele Maru of the European University Institute and John Hopkins University, Irene Mia, Senior Fellow at the International Institute for Strategic Studies, and Balaji Srinivasan, American tech entrepreneur, investor, and author of The Network State.

A conference highlight will be the 2024 Global Citizen Award Dinner on 28 November, where a remarkable individual working to advance one of the global challenges affecting humanity today, will be honored. This year’s laureate will be announced at the gala event hosted in collaboration with the Swiss non-profit humanitarian organization Andan Foundation, which focuses on promoting the self-reliance of refugees through education, entrepreneurship, and employment, and to which the net proceeds of the evening will be donated.

For further information and media accreditation to attend the 18^th annual Global Residence and Citizenship Conference, please contact:

Sarah Nicklin
Group Head of Public Relations
sarah.nicklin@henleyglobal.com 


SOURCE : HENLEY & PARTNERS GROUP HOLDINGS LTD

STANDARD CHARTERED PARTNERS WITH WISE PLATFORM TO TRANSFORM INTERNATIONAL PAYMENTS EXPERIENCE

SINGAPORE, Nov 5 (Bernama-BUSINESS WIRE) -- In a significant move to strengthen its retail cross-border payments offering, leading global bank Standard Chartered has announced a partnership with Wise Platform, Wise’s global payments infrastructure for banks, to power faster and cheaper international payments for the bank’s cross-border payment service, SC Remit.

The partnership will allow Standard Chartered’s SC Remit customers in Asia and in the Middle East to send money in 21 currencies including USD, CAD, EUR, GBP, SGD, HKD, JPY in a matter of seconds all while being fully transparent on pricing — customers getting the mid-market rate with no markups.

Standard Chartered will integrate Wise’s infrastructure through the Wise Platform API to provide this experience to SC Remit customers over the coming quarters, with a further expansion on the horizon both in the number of currencies supported as well as more markets where Standard Chartered operates. This underscores Standard Chartered’s commitment to deliver a world-class international banking experience to meet the needs of customers who value fast, low-cost and convenient payments.

Standard Chartered joins the strong roster of partners choosing Wise Platform to make cross-border payments more efficient and bring convenient, fast, secure and transparent transactions to their customers, improving the end-to-end experience and driving customer loyalty.

With 65+ licences and 6 direct connections to payment systems, 63% of Wise’s cross-border payments are completed instantly, under 20 seconds. Additionally, Wise Platform partners benefit from the expertise of a global engineering team and dedicated specialists in implementation, compliance and 24/7 support, all working collaboratively to seamlessly and safely integrate the Wise APIs into partner dashboards and user interfaces to make integrations easy and quick.

Samir Subberwal, Global Head, Wealth Solutions, Deposits and Mortgages, and Chief Client Officer, Standard Chartered said: “We’re continually improving how we deliver exceptional banking experiences for our clients. We chose to partner with Wise Platform due to their extensive currency coverage and stellar cross-border payments experience they are known for. This collaboration is a key step in enhancing our international payment services as we offer an even more seamless, faster, and efficient digital global payments experience to our clients.”

Steve Naudé, Managing Director of Wise Platform said: “The partnership with Standard Chartered, one of the biggest global banks, marks a significant milestone in financial institutions investing in building better international payment experiences for customers. Wise and Standard Chartered share the same vision for creating frictionless payment experiences for customers, and we are thrilled to be working together to help SC Remit customers access fast, secure and low-cost international payments.”

Naudé continued: “With Wise Platform, Standard Chartered gains access to Wise’s global payments infrastructure, including our extensive licence network, 6 direct connections, payment operations expertise and proven capabilities in treasury management. All these enable us to deliver fast, secure and transparent payments around the world.”

About Wise Platform

Wise is a global technology company, building the best way to move and manage the world’s money. Over the last 14 years, Wise has built an entirely new network for the world’s money.

Thanks to Wise Platform, banks and large companies can leverage Wise’s payments infrastructure and embed the best way to send, receive, and manage money internationally into their existing infrastructure. With a wide variety of partners worldwide, Wise Platform saves banks and businesses time and money by allowing them to seamlessly offer fast, cheap, transparent and convenient cross-border payments to their customers.

Standard Chartered

We are a leading international banking group, with a presence in 52 of the world’s most dynamic markets. Our purpose is to drive commerce and prosperity through our unique diversity, and our heritage and values are expressed in our brand promise, here for good.

Standard Chartered PLC is listed on the London and Hong Kong stock exchanges.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20241104600938/en/


Contact

press@wise.com


Source : Wise Platform

PAKISTAN SEES MAIDEN ISLAMIC NANO FINANCING PRODUCT BY WALEE FINANCIAL SERVICES

KUALA LUMPUR, Nov 4 (Bernama) -- Walee Financial Services Pvt Ltd has introduced Pakistan’s first Islamic nano-financing product, offering interest-free (riba-free) nano-finance through a unique commodity-based trade structure under its fintech brand Hakeem.

With this powerful message, Walee aims to provide accessible financial solutions that empower individuals and promote sustainable economic growth, with the goal of providing an ethical financial alternative to individuals, promoting equitable financial inclusion in Pakistan.

Walee Financial Services, Head of Shariah, Dr Rashid Mansoor said this is a momentous achievement in rolling out Islamic Nano-Finance.

“It has been made possible through the grit, passion, and unwavering faith of our founding team in Islamic finance, highlighting the benefits to society at large. True Shariah compliance has been achieved through cutting-edge technology, supported by esteemed Muftis and Shariah scholars,” he said a statement.

At the heart of Walee Financial Services’ Islamic nano-financing product lies a Tawarruq-based structure that is executed in an unorganised form. In this model, customers participate in a commodity trade process to secure financing without the involvement of interest.

This innovative product ensures that all transactions are free from riba, aligning with the principles of fairness and transparency advocated by Islam, as the passage of the 26th Constitutional Amendment Bill, 2024, sets a clear deadline of Jan 1, 2028, for the complete elimination of riba in Pakistan’s financial system.

By offering Shariah-compliant financing facilities, Walee Financial Services is actively contributing to the country's mission to transition toward a Shariah-compliant economy, aligning with the Federal Shariat Court’s ruling that abolishing riba is fundamental for an Islamic financial system, and supporting the State Bank of Pakistan’s efforts to promote Islamic finance across the country.

As Pakistan moves towards a riba-free economy, Walee Financial Services leads this transformation. With Hakeem, Walee offers a groundbreaking financial solution while actively supporting the government's agenda to eliminate interest-based financial practices.

By fostering ethical, Shariah-compliant finance, Walee contributes to sustainable economic growth and financial inclusion, ensuring that Islamic finance serves the needs of Pakistan's diverse population.

-- BERNAMA

MELTWATER, CYABRA JOIN FORCES TO TACKLE DIS- AND MISINFORMATION THREATS TO BRANDS

KUALA LUMPUR, Nov 4 (Bernama) -- Meltwater, a media, social, and consumer intelligence global provider, announced a new strategic partnership with Cyabra, whose AI shields companies and government agencies from dis- and misinformation by uncovering fake profiles, harmful narratives, and generative artificial intelligence (Gen AI) content.

Together, Cyabra and Meltwater will enable customers with a powerful solution to protect brand reputation from online disinformation attacks, manage crises effectively, and enhance the quality of insights on genuine consumer sentiment.

This holistic framework complements Meltwater’s existing social intelligence solutions and allows for a deeper understanding of dis- and misinformation amplified by malicious actors through fake accounts, according to a statement.

“Cyabra’s leading technology gives teams advanced tools to be able to detect, manage, and counter harmful narratives in real time and protect brand reputation, and we are proud they have chosen to partner with Meltwater to advance this mission,” said Meltwater senior vice president (SVP) of Global Alliances and Partnerships, Doug Balut.

Meanwhile, Cyabra SVP of Revenue, Emmanuel Heymann said: “By joining forces with Meltwater, we are extending our capabilities to offer a comprehensive solution to a wider audience.

“Meltwater’s suite of tools, combined with Cyabra’s advanced technology, empowers businesses to better identify and counter online threats. Together, we provide a powerful solution for safeguarding brand reputation and building consumer trust in the digital age.”

Through this partnership, joint customers of Meltwater and Cyabra will receive real-time alerts about emerging threats in order to improve decision-making and strategic planning.

With this partnership, Cyabra has joined the Meltwater Partner Program, a fast-growing ecosystem of top technology and services providers. By joining the programme, Meltwater partners gain access to a broad range of programmes, including access to innovative technologies and exclusive co-marketing opportunities to amplify their brand and accelerate revenue growth.

-- BERNAMA

TEAMLAB PLANETS TOKYO PURSUING SIGNIFICANT EXPANSION, TO UNVEIL NEW ARTWORKS JANUARY 2025

 

teamLab, Sfera Melantun Berpusing Pantas di Rumah Caterpillar, Sumbangan teamLab Borderless, Jeddah (c) teamLab

KUALA LUMPUR, Nov 4 (Bernama) -- Internationally acclaimed and popular art museum, "teamLab Planets TOKYO DMM" (teamLab Planets) in Toyosu, Tokyo is set to unveil a large-scale expansion on Jan 22, next year.

According to a statement, the expansion increases teamLab Planets' area by 1.5 times, introducing an extensive space themed around educational projects.

The new additions include Athletic Forest, a complex, multi-dimensional creative athletic space; Catching and Collecting Extinct Forest where visitors can capture and study extinct animals; and Future Park, a collaborative space for co-creation, featuring over 10 new artworks across these spaces.

Unlike the existing Water Area and Garden, where visitors experience the artworks barefoot, visitors in Athletics Forest, Catching and Collecting Extinct Forest, and Future Park will explore the complex, three-dimensional spaces wearing comfortable shoes.

Additionally, a new Sketch Factory will be established, allowing visitors to take home original products (such as tin badges, hand towels, T-shirts, tote bags, and paper crafts) featuring the drawings they create within the artwork spaces. Furthermore, the outdoor areas will also undergo a major renewal.

Tickets for visits until February 2025 are now available for purchase on the official website.

A museum where visitors walk through water, and a garden where they become one with the flowers, teamLab Planets comprises four large-scale artwork spaces and two gardens created by art collective teamLab.

-- BERNAMA

Naptha AI Raises US$6 Mln To Spearhead AGI Development

KUALA LUMPUR, Nov 1 (Bernama) -- Naptha AI, a cutting-edge platform that orchestrates multiple artificial intelligence (AI) agents to optimise performance and drive innovation, announced a US$6 million pre-seed raise, co-led by Arche Capital and Cyber Fund. (US$1=RM4.37)

This pre-seed raise is substantial for an initial fundraise of outside capital, positioning Naptha AI at the forefront of the next evolution of AI.

The round also includes participation from several other prominent industry angels and venture capitalists (VCs), such as Seed Club Ventures, the first investor in Stability AI, the company behind the groundbreaking open-source AI model Stable Diffusion, as well as Polymorphic Capital, GnosisDAO, and Halo Capital, among others.

This funding round is a crucial step in advancing the next evolution of AI, transitioning from a focus on isolated large language models to interconnected and specialised multi-agent systems creating collaborative, adaptive, and economically beneficial agentic networks utilising Multi-Agent Universal Intelligence (MAUI).

Naptha AI Chief Scientific Officer and Co-Founder, Richard Blythman the future of AI is not just about more powerful models but it is about intelligent collaboration between diverse networks of agents.

“We are at the forefront of a new paradigm in AI development, where diversity, scale and decentralisation of multi-agent systems will drive performance and efficiency.

“Our vision is to create a system where developers can seamlessly build on each other's work, creating a truly interconnected AI ecosystem that will transform industries and benefit stakeholders of all sizes," he said in a statement.

Unlike mainstream AI approaches that aim to develop artificial general intelligence (AGI) as a single, monolithic entity, Naptha AI envisions AGI as a network of billions to trillions of agents working together, offering developers a platform for building and deploying large systems of cooperating intelligent agents.

The platform will allow for decentralised, multi-agent orchestration in a scalable, trustless, and cooperative environment, shifting the narrative of AI from a singleton to a dynamic, interconnected system of entities.

By allowing developers to build within existing agent frameworks or bring their own, the Naptha platform meets developers where they are while leveraging the benefits of the the company’s network, including seamless integrations with decentralised infrastructure and economic systems for agentic networks, allowing developers to create systems that solve complex tasks far more effectively than traditional AI models.

-- BERNAMA

API Security At Breaking Point Exposing Vulnerabilities, Emerging Threats - Traceable AI

KUALA LUMPUR, Nov 1 (Bernama) -- Traceable AI, an application programming interface (API) security company, in its second annual research report, the 2025 Global State of API Security found that organisations are failing to protect their APIs despite persistent breaches and increased awareness of security risks.

Key findings examine the most pressing API security issues organisations face today such as increasing bot attacks and fraud, risks from third-party APIs, and the new security implications of generative artificial intelligence (Gen AI) applications, according to a statement.

This comprehensive study, incorporating insights from over 1,500 information technology and cybersecurity experts across the United States, the United Kingdom, and Europe, Middle East, and Africa (EMEA), reveals fundamental weaknesses in API security strategies and tracks how these issues have shifted since its inaugural report.

Its Chief Security Officer, Richard Bird said organisations keep deploying the same solutions, Web Application Firewalls, API gateways, and lifecycle tools, yet only a small percentage report any real success.

"API breaches are rampant, and the industry is in denial. The truth is, these traditional defences are failing, and the more companies rely on them, the more they expose themselves to devastating attacks.

“We are also seeing a surge in bot attacks, increasing instances of API fraud, and new vulnerabilities emerging from the rapid adoption of Gen AI applications. Without a fundamental shift in how they secure APIs, breaches and their consequences will continue to escalate,” he said.

The report also revealed that API-related data breaches continue to wreak havoc with 57 per cent of organisations having suffered an API-related data breach in the past two years, with a staggering 73 per cent of these experiencing three or more incidents.

Despite deploying an array of security tools, only 19 per cent of organisations rate their defences as highly effective while 65 per cent of organisations state that Gen AI applications pose a serious to extreme risk to APIs.

It also found that 53 per cent of organisations have experienced one or more bot attacks involving their APIs. Organisations now use an average of 131 third-party APIs, up slightly from last year's 127.

Traceable conducts this annual research to provide organisations with an objective assessment of API security risks and trends to ensure that as APIs continue to be central to business operations, organisations have the insights they need to protect their critical assets.

-- BERNAMA