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On cloud nine with Alibaba Cloud’s decision

I start with this statement, “According to the research study, the global Cloud Computing Market was estimated at USD 321 Billion in 2019 and is expected to reach USD 1025.9 Billion by 2026. The global Cloud Computing Market is expected to grow at a compound annual growth rate (CAGR) of 18% from 2019 to 2027” Please do read the full article here: globenewswire.com Okay, now that we know “Cloud” is something super big and that it’s not the clouds we see on the sky, let’s move on to the latest news about Alibaba Cloud.

Article in nst.com.my Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, has announced that it is to launch an Alibaba Cloud Innovation Centre here in Malaysia. This will be its first international innovation centre located outside of China.

Besides launching the innovation centre in Malaysia, Alibaba Cloud will also invest US$1 billion (RM4.145 billion) in funding and resources within the next three years as part of its Project AsiaForward, which aims to foster one million digital talents, empower 100,000 developers and accelerate the growth of 100,000 tech start-ups across Southeast Asia and Hong Kong.

Alibaba Cloud Intelligence’s general manager, International Business Unit, Selina Yuan said, “Alibaba Cloud is committed to investing into Malaysia’s digital future. And opening our first ever international innovation center in Malaysia, is a testament to our longstanding commitment to the country.” Please do read the full article here: Article in nst.com.my

By the way, I have no idea how huge this would be

I am serious, I do not know how big this would be. However, it says that it will be fostering 1 million digital talents and 100,000 developers. We assume only 10% of these would be in Malaysia and we are looking at skills upgrade or even new skills for many Malaysians who are up to it. With the right skills, comes opportunities. This is why it is very critical that we continue to learn and keep ourselves updated with new skills. Oh yeah, when we have the skills, then we are equipped to grab the demand for such professionals by the market.

Alibaba Cloud as a company?

Article here in zdnet.com “The Chinese technology giant’s cloud business, Alibaba Cloud, reported revenues of $2.47 billion, an increase of 50% year-over-year. This is the first time Alibaba has reported positive adjusted EBITA — an indicator of profitability — and the firm cited “the realization of economies of scale” as the reason.”

Revenues of US$2.47 billion is around RM10.15 billion. Clearly, this is not a small company and it’s a confidence booster to the market since it’s opening up its first innovation centre outside China here in Malaysia. Happy following and forwarding a bit. Enough of forwarding just bad news about Malaysia okay? Cheers.

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Charles Tan The Founder The Writer Kopiandproperty
Charles Tan

Charles is Founder of kopiandproperty.com He writes from his investment experience for the the past 20 years in investments including property, stock, unit trust and more as well as readings and conversations with many property gurus in the industry. kopiandproperty.com is an independent property blog which is not affiliated to any media company, property developer or even real estate agencies.

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