Strategic Expansion Strengthens Its position in AI, complementing TGL’s growing e-commerce ecosystem
KUALA LUMPUR, Malaysia, March 24, 2025 (GLOBE NEWSWIRE) -- Treasure Global Inc. (NASDAQ: TGL) (“Treasure Global” or the “Company”), a Nasdaq-listed technology company, today announced a strategic initiative to develop and deploy an advanced artificial intelligent (AI) cloud infrastructure in Malaysia. This new platform will be capable of supporting AI models up to one trillion parameters, positioning it among the most powerful AI computing environments in Southeast Asia.
This initiative represents a significant milestone in TGL’s expansion into enterprise-grade AI infrastructure, enabling the next generation of large language models (LLMs), computer vision systems, and generative AI applications. Development of AI cloud platform has commenced, with phased deployment scheduled throughout 2025.
To power these advancements, the platform will leverage cutting-edge graphics processing unit (GPU) clusters optimized for large-scale, multi-modal AI workloads. Built on DeepSeek’s technology, the infrastructure will provide the high-performance computing capabilities necessary for hosting and training trillion-parameter models — rivaling the largest existing AI environments globally.
The rapid growth of AI infrastructure is a global trend, with the market estimated to reach USD60.23 billion in 2025, according to Precedence Research. Projections indicated a compound annual growth rate (CAGR) of 26.60% from 2025 to 2034. This trend is also evident in Malaysia, which is rapidly emerging as a regional hub for digital innovation. The country is addressing the increasing demand for scalable computing infrastructure, catering to both public and private sector needs for scalable computing infrastructure, across industries such as finance, healthcare, education, and logistics.
TGL’s AI cloud platform is expected to broaden access to high-performance AI capabilities across multiple sectors:
Healthcare: Diagnostic imaging, triage support, medical AI assistants.
Retail and Logistics: Demand forecasting, route optimization, and customer personalization.
Public Sector and Education: Generative tools, simulation engines, automation.
Supporting this strategic initiative, TGL has secured a USD16 million service agreement signed in 2024 with V Gallant Sdn Bhd (“V Gallant”), a Malaysia-based AI solution provider. Under the revised scope of this agreement, a substantial portion of the capital commitment has been redirected toward the design and deployment of the AI cloud platform, reinforcing TGL’s long-term vision for AI infrastructure expansion.
The agreement remains in effect through December 2025, with both parties committed to accelerating TGL’s role in Southeast Asia’s AI infrastructure landscape. A corresponding Form 8-K will be filed with the U.S. Securities and Exchange Commission to reflect this scope enhancement. As part of the initiative, TGL will lead onboarding and go-to-market strategies, focusing on early partnerships and enterprise adoption.
“The shift toward AI-native enterprises is accelerating, and the Company is committed to enabling this transformation by building world-class infrastructure. This initiative not only expands our technological footprint but also unlocks new opportunities to create long-term value for our customers and shareholders,” said Carlson Thow, CEO of Treasure Global Inc.
About Treasure Global:
Treasure Global is a leading Malaysian solutions provider, specializing in the development of innovative technology platforms that drive digital transformation. Its flagship product, the ZCITY Super App, integrates e-payment solutions with customer rewards, fostering a seamless digital ecosystem. As of November 2024, ZCITY Super App has attracted over 2.9 million registered users, positioning Treasure Global as a key player in Malaysia’s digital economy.
V Gallant, a subsidiary of VCI Global Limited (NASDAQ: VCIG), is a leading provider of AI infrastructure and cybersecurity solutions, delivering advanced technologies that drive both innovation and security. The company supplies high-performance Graphics Processing Unit (GPU) hardware and software platforms for training Large Language Models (LLMs), developing AI agents, and advancing machine learning and data analytics. Additionally, V Gallant offers comprehensive cybersecurity services to safeguard organizations against evolving threats, ensuring data integrity and operational resilience in an increasingly digital world.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements reflect the Company’s current expectations, assumptions, and projections about future events and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements typically include terminology such as “anticipates,” “believes,” “expects,” “intends,” “may,” “plans,” “projects,” “seeks,” “should,” “will,” or similar expressions.
Factors that could cause actual results to differ materially include, without limitation, the Company’s ability to expand its e-commerce platform, customer acceptance of new products and services, changes in economic conditions affecting its operations, the impact of global health crises, supply chain disruptions, competition, and regulatory risks related to data privacy and security. These risks, along with other factors, are discussed in more detail in the Company’s filings with the U.S. Securities and Exchange Commission.
The forward-looking statements in this press release speak only as of the date hereof. The Company assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.
CONTACT
Investor and media contact: Chin Sook Lee Chief Financial Officer Treasure Global Inc. ir_us@treasuregroup.co
