On Thursday, Wu said Alibaba will continue to sacrifice a small slice of profitability to help bankroll its investments. The priority for cloud computing, one of the company’s fastest-growing businesses, remains expansion for now, she added.
“Profitability is still not the priority for our cloud business,” Wu told investors. Alibaba wants to “quickly expand cloud leadership in coming quarters.” – Bloomberg
Apart from recent news of KGROUP buying Rapid Cloud (from RM 3.5m) and Progenet (for RM 1.5m), and working with Anzo, here is latest news linking subsidiary Progenet (Rueben Gerard Paul) with the launching of Asia Cloud Platform (ACP).
(1) First reported in The Edge on Wed 7 June 2017 about ACP launching ceremony on 8 June 2017:
Launching ceremony of Asia Cloud Platform The Edge /The Edge June 07, 2017 11:06 am MYT Cocott’@The Greens TTDI,
Jalan Wan Kadir 3, Taman Tun Dr Ismail
Thursday, June 8, 2017 - 10:00 to 13:00
Launching ceremony of Asia Cloud Platform which is a disruptive cloud platform, which brings together seasoned IT stalwarts with native presence in the country to provide a holistic cloud service that goes beyond traditional data centres at Cocott’@The Greens TTDI, Jalan Wan Kadir 3, Taman Tun Dr Ismail from 10am – 1pm.
(2) Then today, Fri 9 June 2017, reported in The Star and Daily Express of Sabah:
KUALA LUMPUR: The Asia Cloud Platform (ACP), a federated cloud service platform to help facilitate and simplify Asian businesses’ migration to the cloud system has been launched.
ACP founder Lim Chin Sean said ACP provided cloud service that went beyond traditional data centres, being able to accommodate customers’ fluctuating demands with ease, while its affiliate partners could adapt to such flexibility without having to build new points-of-presence. ACP is formed with the intention of closing the gaps between business requirements and the cloud product and services offered by our system, whether it is technology, policy or infrastructure.
“This platform is the first of its kind in Asia, using ground-breaking technology, and has a huge potential in its market reach like no other cloud provider can achieve. Malaysia serves as its starting point before moving into other Asean and Asian markets,” he told a press conference here yesterday.
ACP is the brainchild of four information technology industry leaders; Lim, Rodrigues Teh, Hui Kiat Bin and Rueben Gerard Paul.
Meanwhile, Teh said ACP would focus on Malaysian companies this year, before venturing into other Asian countries next year, adding that several leading local companies have already signed up for the system. – Bernama
Sorry for those in the know, I refer to the announcement by KGROUP to Bursa on their proposed acquisition of Progenet Sdn Bhd for RM 1.5m (in PDF attachment) dated 15 May 2017:
OFFER TO ACQUIRE PROGENET SDN BHD ("PROGENET") BY DVM INNOVATE SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF KEY ALLIANCE GROUP BERHAD ("KAG" OR "THE COMPANY")
Reference is made to the announcement dated 11 April 2017 in relation to the memorandum of understanding (“MOU”) entered into between Progenet Sdn Bhd (“PROGENET”) and the Company’s wholly owned subsidiary, DVM Innovate Sdn Bhd (“DISB”) (“Announcement”). The Board of Directors of KAG wishes to announce that DISB has made an offer to Mr Reuben Gerard Paul (NRIC No. 720731-14-5445) and Mr Khoh Beng Kee (NRIC No. 720909-14-5013) (“the Vendors”) to acquire 100% equity interest in Progenet Sdn Bhd (“PROGENET”) (“Proposed Acquisition”), subject to and upon the following terms and conditions (“Offer”).
Please refer to attached file for full text announcement.
Announcement of KGROUP to Bursa on 17 April on the conditional letter of award (LOA) for construction of RM24.7m data centre. Assurance to us investor that KGROUP will be in data centre business:
CONDITIONAL LETTER OF AWARD TO DVM INNOVATE SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF KEY ALLIANCE GROUP BERHAD ("KAG" OR "THE COMPANY") BY AVENUE ESCAPADE SDN BHD ("AESB") The Board of Directors of KAG wishes to announce that its wholly owned subsidiary, DVM Innovate Sdn Bhd (“DISB”), has received conditional letter of award (“LOA”) from Avenue Escapade Sdn Bhd (“AESB”) for the design, build and management of data centre for a contract sum of RM24,745,000.00 (Ringgit Malaysia Twenty Four Million Seven Hundred Forty Five Thousand Only).
Please refer to attached file for full text announcement.
But then again, to be fair, we need to be aware also of KGROUP's clarification dated 26 April on the New Straits Times report (I'm not attaching it, thank God!! Good gracious me.) dated the same date. So hopefully, we make a more informed choice in our investment. Sorry if my multiple posts on copy and paste looks like spam to some. This should be the last in the series:
KEY ALLIANCE GROUP BERHAD ("KAG" OR "THE COMPANY") CLARIFICATION ON THE ARTICLE BY NEW STRAITS TIME ON 26 APRIL 2017 With reference to the article by NEW STRAITS TIME on 26 April 2017.
“Sources said the company might win two contracts worth RM50 million in the current quarter to construct and manage data centres.”
The Board of Directors of KAG wish to clarify that aside from what has been announced to the public to date, KAG GROUP is not involved in any discussion with reference to construct and manage data centres.
Another collaboration with Harvest court Proeperty today ..the price will fly to the new high... just patience..ignore those immature assumptions that this stock is not good.. see those agreements and acquisitions, they trying to plan something big as soon as possible... I do believe it will reach 50cents.... its in pace of growing the company...and its capital...
poseido80 and heng2020, it's ok for us to dream. 20 sen or 50 sen for KGROUP could be a reality. I also realistically hope that KGROUP will reach the modest 15-20 sen band in the near future. That's 300-400% value from the present. As shown by the last two weeks the price has been consolidating at 4-4.5 sen, with a big buying wall at 4 sen set by the big boys. This is due to the recent subscribed rights and share dilution. They're also selling at 4.5 sen. So no choice for the speculators, short-term traders, margin traders, desperados and skeptics in KGROUP - have to sell at 4 sen and buy at 4.5 sen. Somehow I feel that the 4.5 sen wall will be breached by next week and an upward wave will follow, as happened in the first upward wave when the RI and acquisitions were announced a few months back. Only this time the upward wave and momentum will be higher due to more good news on Rapid Cloud, Progenent, Anzo/Harvest Court (to heck with negative news) and Asia Cloud Platform (ACP). In Malaysia, there are many pretenders to the IT throne of e-commerce, cloud centre and Jack Ma (he just made a cool US 2.8b today, ha ha ..) but I do believe that KGROUP is making the right moves to that direction. I'm betting with my money on this racing horse of KGROUP.
Guys.Just make your own decisions. No need to get involved with other comments. At the end of the day the money you made is yours. Everyone can have their personal views. So no need to argue. Just be smart and have patience. The Directors of those companies you invested got a very challenging tasks ahead of them. We only wait for their hard work. Happy investing.
ikan bilis only care when his shares not fly but other shares fly in buliish market, they will keep complain .... they will keep say this company is a con stock.... then? why u buy? then ? sell please ya is not a good company as u said... just sell nobody care your shares especially in this cruel market
why good news must fly? ur brain already set the mind good news must fly?? market is unpredictable and cruel... just study more market bahavior and market efficient hypothesis pls
good company must always have good profit every quarter and bad company sure have bad result every quarter??? your brain already being washed liao sozai
sean1985 yes yesterday minum tea with Allah, he told me.
sean1985 : you jangan ini macam....jangan kurang ajar......we all muslim tak pernah kacau u kaum mana pun pasal ini saham...pasal tuhan......u jangan kurang ajar..... we all melayu /muslim tak penah make joke about god or religion............... i think only u thinks that was funny.... i respect other races or religion...
We don't need to talk about religion. FYI 股海无真情 is the same guy is 人生. He always put himself into the centre of argument the delete his message. Now into religion gust pulak.
Tafaq, don't bother him. People like that memang live long.
The outstanding share and market cap is out way too much for its peer. *hint hint*
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Striker90
2,617 posts
Posted by Striker90 > 2017-06-09 08:14 | Report Abuse
On Thursday, Wu said Alibaba will continue to sacrifice a small slice of profitability to help bankroll its investments. The priority for cloud computing, one of the company’s fastest-growing businesses, remains expansion for now, she added.
“Profitability is still not the priority for our cloud business,” Wu told investors. Alibaba wants to “quickly expand cloud leadership in coming quarters.” – Bloomberg