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Global IBO Group Ltd., an Integrated AIGC Animation Platform Provider, Announce Definitive Business Combination Agreement With Bukit Jalil Global Acquisition 1 Ltd.

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NEW YORK, Aug. 9, 2024 /PRNewswire/ — Global IBO Group Ltd. (“GIBO”), a unique and integrated AIGC animation creation and streaming platform for storytellers and content creators, and Bukit Jalil Global Acquisition 1 Ltd. (“Bukit Jalil Global”) (Nasdaq: BUJA), a publicly traded special purpose acquisition company, today announced that they have entered into a definitive business combination agreement (the “Business Combination Agreement”). Upon completion of the business combination of GIBO and Bukit Jalil Global and related transactions pursuant to the Business Combination Agreement (the “Proposed Transaction”), the combined company (the “Combined Company” or “PubCo”) will be renamed “GIBO Holdings Limited” and listed on The Nasdaq Stock Market LLC (“Nasdaq”).

The closing of the transactions is subject to customary closing conditions, including regulatory and shareholder approvals.

Management Comments

Chun Yen “Dereck” Lim, Chairman of GIBO

“We are thrilled to announce a definitive agreement for the Business Combination with Bukit Jalil Global. Leveraging their extensive experience in capital management, we are confident that Bukit Jalil Global will elevate our business, aligning perfectly with our vision to establish GIBO as the preferred platform for content creators and the new generation of users worldwide.”

Jing Tuang “Zelt” Kueh, CEO of GIBO

“This transaction marks a significant milestone in GIBO’s mission. We are optimistic that this combination will provide support to enhance our technology innovation, enrich our content offerings, attract more user subscriptions, and accelerate our strategic growth and broaden expansion in the global market. We are committed to building an ecosystem that provides content creators with the latest AI-driven technologies and provides users with engaging platforms featuring rich and varied content, and in the process help transform the comic and animation industry.”

Dr Seck Chyn “Neil” Foo, CEO of Bukit Jalil Global

“We are very excited to partner with the GIBO team. GIBO’s leadership in the animation streaming sector and proven track record in the Asia market give us great confidence in its future prospects as a Nasdaq-listed company. We look forward to sharing additional details on this exciting transaction in the coming months. We appreciate all of our shareholders and investors that have participated in our IPO. We look forward to a successful future together with GIBO.”

Transaction Overview

Under the terms of the Business Combination Agreement, GIBO Merger Sub 1 Limited, a Cayman Islands exempted company and a wholly-owned subsidiary of PubCo (“Merger Sub I”) will merge with and into GIBO, with GIBO as the surviving entity and a wholly-owned subsidiary of PubCo (the “First Merger”), and (ii) following the First Merger, GIBO Merger Sub 2 Limited, a Cayman Islands exempted company and a wholly-owned subsidiary of PubCo (“Merger Sub II”) will merge with and into Bukit Jalil Global, with Bukit Jalil Global as the surviving entity and a wholly-owned subsidiary of PubCo (the “Second Merger”). Upon the consummation of the Proposed Transaction, each of Bukit Jalil Global and GIBO will become a subsidiary of PubCo, and Bukit Jalil Global’s shareholders and GIBO’s shareholders (except certain shareholders of GIBO (such shareholders, the “Founders”)) will receive Class A ordinary shares of PubCo (“PubCo Class A Ordinary Shares”) and the Founders will receive Class B ordinary shares of PubCo (“PubCo Class B Ordinary Shares”) as consideration. Each PubCo Class A Ordinary Share has one vote per share while each PubCo Class B Ordinary Share has twenty (20) votes per share.

No assurances can be made that the Proposed Transaction will be consummated on the terms or timeframe currently contemplated, or at all. Any transaction would be subject to the approval of the two companies’ boards, regulatory and shareholder approvals as well as other customary conditions.

Additional information about the Proposed Transaction, including a copy of the Business Combination Agreement, will be provided in a Current Report on Form 8-K to be filed by Bukit Jalil Global with the Securities and Exchange Commission (the “SEC”) and will be available at www.sec.gov.

Advisors

DLA Piper UK LLP is serving as legal counsel to GIBO. Robinson & Cole LLP is serving as legal counsel to Bukit Jalil Global.

About Global IBO

Founded in 2019 and powered by its platform GIBO.ai, GIBO is a unique integrated AIGC animation streaming platform aiming to revolutionize content creation and consumption through AI. GIBO offers creators a full range of services from brainstorming to monetization, encompassing voice synthesis and advanced image generation capabilities. With its broad content selection and innovative AI technologies, GIBO has garnered a substantial following among the Asian Generation Z demographic. As of December 31, 2023, GIBO boasts a strong registered user base exceeding 60 million, including 20,000 content creators across Taiwan, Malaysia, Singapore, India, Bangladesh, Indonesia, Thailand, Vietnam, Philippines, and Myanmar. For more information, please visit www.globalibo.com.

About Bukit Jalil Global Acquisition 1 Ltd.

Bukit Jalil Global Acquisition 1 Ltd. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities.

Important Information About the Proposed Business Combination and Where to Find It

In connection with the Proposed Transaction, the Combined Company intends to file a registration statement on Form F-4 (the “Registration Statement on Form F-4,”), including a preliminary proxy statement/prospectus, and a definitive proxy statement/prospectus with the SEC. Bukit Jalil Global’s shareholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus as well as other documents filed with the SEC in connection with the Proposed Transaction, as these materials will contain important information about GIBO, Bukit Jalil Global, and the Proposed Transaction. When available, the definitive proxy statement/prospectus and other relevant materials for the Proposed Transaction will be mailed to shareholders of Bukit Jalil Global as of a record date to be established for voting on the Proposed Transaction. Shareholders of Bukit Jalil Global will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC’s website at www.sec.gov.

Participants in the Solicitation

Bukit Jalil Global and its directors and executive officers may be deemed participants in the solicitation of proxies from Bukit Jalil Global’s shareholders with respect to the Proposed Transaction. A list of the names of those directors and executive officers of Bukit Jalil Global is contained in Bukit Jalil Global’s Annual Report on Form 10-K filed with the SEC on April 2, 2024, which is available free of charge at the SEC’s web site at www.sec.gov. Additional information regarding the interests of such participants will be set forth in the Registration Statement when available.

GIBO, the Combined Company and their directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of Bukit Jalil Global in connection with the Proposed Transaction. A list of the names of such directors and executive officers and information regarding their interests in the Proposed Transaction will be included in the Registration Statement when available.

No Offer or Solicitation

This press release does not constitute, and should not be construed to be, a proxy statement or the solicitation of a proxy, solicitation of any vote or approval, consent or authorization with respect to any securities or in respect of the Proposed Transaction described herein and shall not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws. These statements are intended for illustrative purposes only and should not be considered by any investor as a guarantee, assurance, prediction, or definitive statement of fact or probability. Actual results of GIBO and the Combined Company may vary from their expectations, estimates, and projections. Consequently, investors should not rely on these forward-looking statements as predictions of future events. Terms such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “might,” “will,” “could,” “should,” “believe,” “predict,” “possible,” “potential,” “continue,” and similar expressions (including the negative versions of such words) are intended to identify these forward-looking statements. These statements include, without limitation, the expectations of GIBO, Bukit Jalil Global and the Combined Company regarding future performance and the anticipated financial impacts of the business combination transaction.

These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially, and potentially adversely, from those expressed or implied in the statements. Most of these factors are beyond the control of GIBO, Bukit Jalil Global and the Combined Company, and are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors that may cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be initiated against GIBO and/or the Combined Company following the completion of the business combination transaction; (2) the inability to maintain the listing of the Combined Company’s securities on Nasdaq following the completion of the business combination transaction; (3) the risk that the business combination transaction disrupts current plans and operations; (4) the ability to recognize the anticipated benefits of the business combination transaction, which may be affected by, among other factors, competition, GIBO’s or the Combined Company’s ability to grow and manage growth profitably, and retain its key employees; (5) costs related to the business combination transaction; (6) changes in applicable laws or regulations; and (7) the possibility that GIBO may be adversely affected by other economic, business, and/or competitive factors. This list of factors is not exhaustive. There may be additional risks that neither Bukit Jalil Global nor GIBO presently know or that Bukit Jalil Global  and GIBO currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Any forward-looking statements made by or on behalf of Bukit Jalil Global, GIBO or the Combined Company speak only as of the date they are made. None of Bukit Jalil Global, GIBO or the Combined Company undertakes any obligation to update any forward-looking statements to reflect any changes in their respective expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

All subsequent written and oral forward-looking statements concerning GIBO, Bukit Jalil Global or the Combined Company, the transactions described herein, or other matters and attributable to GIBO, Bukit Jalil Global or the Combined Company, or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. GIBO, Bukit Jalil Global and the Combined Company expressly disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations or any change in events, conditions, or circumstances on which any statement is based, except as required by law.

Use of data

The data contained herein is derived from various internal and external sources that GIBO and Bukit Jalil Global believe to be reliable. Although GIBO and Bukit Jalil Global are not aware of any misstatements regarding the external data presented herein, their estimates involve risks and uncertainties and are subject to change based on various factors, including those described under “Forward-Looking Statements” above. Any data on past performance or modeling contained herein is not an indication as to future performance, and each of GIBO and Bukit Jalil Global disclaims any obligation, except as required by law, to update or revise the information in this presentation, whether as a result of new information, future events or otherwise.

Contact Information:

Global IBO Group Ltd. Contact:

William Zima
Managing Director of ICR, LLC
Tel: +1-203-682-8200
Email: william.zima@icrinc.com

Bukit Jalil Global Acquisition 1 Ltd. Contact:

Tina Xiao
President of Ascent Investor Relations LLC
Tel: +1-917-609-0333
Email: tina.xiao@ascent-ir.com

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SOURCE Global IBO Group Ltd.

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DeepL unveils industry-first Glossary Generator to solve business communication and brand consistency challenges

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September 23, 2024

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Enhanced DeepL glossary functionality – including new glossary generator, expanded language support and more – will boost global business translations, saving time, effort, and costs

COLOGNE, Germany, Sept. 23, 2024 /PRNewswire/ — DeepL, a leading global Language AI company, today announced several updates to its glossary feature, which is a powerful tool that enhances translation consistency and accuracy by enabling professionals and companies to personalize translations for specific terms. The tool now offers the industry’s first smart glossary generator, which helps simplify and speed up the process of creating glossaries for translations. Glossary is also available in several new languages and within DeepL’s browser extensions and integrations, fitting seamlessly into existing workflows to offer an even more accessible and smooth user experience across the web and applications like Google Workspace and Microsoft 365.

“AI-powered translations are essential for businesses looking to overcome language barriers in today’s increasingly connected world, and DeepL’s powerful glossary tool takes this a step further by ensuring translations are personalized to a company’s unique phrases and needs,” said Christopher Osborne, VP of Product, DeepL. “We’re always looking for ways to improve the DeepL experience and drive even more value and ROI for 100,000+ customers worldwide, and these new capabilities make our glossary even more efficient, accessible and user-friendly – empowering teams to achieve the customization and consistency they are looking for, while minimising time spent on costly alternatives like manual translations or find-and-replace tools.”

For global businesses aiming to drive revenue growth, investing in brand consistency across all communications and languages is essential to ensure that every message—whether technical terminology, product names, or branded terms—resonates clearly with teams, customers, and markets worldwide. Consistent branding has been proven to increase revenue by 20% or more[1] and enhance visibility by 3 to 4 times[2] – however, maintaining this consistency can be expensive and complex. DeepL’s glossary tool simplifies this process, helping businesses and professionals easily create and scale high-quality, consistent multilingual communications across teams. With glossary, companies can create and manage custom translation glossaries to ensure that specific words or phrases are translated consistently according to their unique terminology.

DeepL’s glossary now offers the following expanded capabilities:

The industry’s first smart, AI-powered glossary generator: DeepL’s new glossary generator is a first-of-its-kind tool enabling teams to create custom translation glossaries with a simple file upload. Previously translated files can be leveraged to generate entries for personalized DeepL glossaries, reducing the need for manual work and significantly enhancing efficiency, enabling teams to facilitate more consistent communication at scale.Expanded glossary language functionality: Glossary now supports Korean, Danish, Swedish, Norwegian, and Romanian translations, bringing the total number of languages to 16. This allows for more precise and nuanced translations across a wider range of linguistic contexts, helping businesses reach a broader audience.More convenient access across DeepL platforms: Users are now able to access and apply the glossary directly within the DeepL browser extensions for Chrome and Edge, enabling consistent translations across the web, including Google Workspace applications. Furthermore, the glossary can now also be applied directly within DeepL for Microsoft 365 integrations, including Word, Outlook, and PowerPoint. Additionally, the glossary can be accessed through DeepL’s web browser, desktop apps, and API.

Unlike other find-and-replace tools, DeepL’s glossary excels with its advanced contextual understanding and ability to process complex grammatical elements—such as case, gender, and tense—to deliver nuanced, natural-sounding translations. This results in substantial productivity gains, largely due to the time saved in post-editing. Blind tests with language experts show that DeepL reduces post-editing time by 30% compared to Google Translate and 20% compared to Chat GPT-4. Furthermore, DeepL requires significantly fewer edits, with Google Translate and Chat GPT-4 needing two to three times as many feedback rounds.

Glossary with DeepL Pro also offers enhanced data security, including proprietary data centers, the highest level of certification and compliance standards (ISO 27001 certification, GDPR/SOC 2 type 2 compliance), data encryption, and a commitment to never using Pro customer data to train models.

DeepL’s glossary generator is now available to Pro Advanced and Ultimate subscribers with support for TMX/DOCX/PDF files. It is initially available for glossaries in German, Spanish, Japanese, Italian, French, and Russian (to and from English), with more languages coming soon.

Learn more about DeepL Pro and try out glossary yourself here.

About DeepL

DeepL is on a mission to break down language barriers for businesses everywhere. Over 100,000 businesses and governments and millions of individuals in 228 global markets trust DeepL’s Language AI platform for human-like translation and better writing. Designed with enterprise security in mind, companies around the world leverage DeepL’s AI solutions that are specifically tuned for language to transform business communications, expand markets, and improve productivity. Founded in 2017 by CEO Jaroslaw (Jarek) Kutylowski, DeepL today has over 900 passionate employees and is supported by world-renowned investors including Benchmark, IVP, and Index Ventures.

[1] Marq, “2021 Brand Consistency Report”
[2] Demand Metric x Lucid Press, “Impact of Brand Consistency” Report, 2016

View original content:https://www.prnewswire.com/apac/news-releases/deepl-unveils-industry-first-glossary-generator-to-solve-business-communication-and-brand-consistency-challenges-302254939.html

SOURCE DeepL

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Agoda: Chinese Travelers Post a 137% Increase in International Searches for Upcoming Golden Week

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September 23, 2024

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SINGAPORE, Sept. 23, 2024 /PRNewswire/ — Digital travel platform Agoda has revealed a 137% year-over-year increase in international accommodation searches from China for the upcoming Golden Week. China’s second Golden Week of the year takes place from 1 to 7 October.

Agoda’s accommodation search data reveals a shift in Chinese travelers’ preferences for Golden Week. Last year, the top five outbound destinations were Tokyo, Seoul, Osaka, Kyoto, and Bangkok, respectively. This year, Seoul has emerged as the number one destination, leapfrogging Tokyo. Bali is a new entry in the top five and takes third place. Bangkok and Osaka continue to be among the most searched destinations and complete the ranking in fourth and fifth, respectively.

Taking place from 1 – 7 October this year, Golden Week is a prime travel period for Chinese families looking to take advantage of the week-long break. Golden Weeks are celebrated twice a year in China, around Lunar New Year and China’s National Day.

Top Outbound Destinations for Golden
Week 2024

(Based on Agoda’s accommodation search data)

      1. Seoul, South Korea

      2. Tokyo, Japan

      3. Bali, Indonesia

      4. Bangkok, Thailand

      5. Osaka, Japan

Andrew Smith, Senior Vice President, Supply at Agoda said, “The increase in outbound travel searches for China’s Golden Week suggests a growing confidence among Chinese citizens to explore international travel. It’s great to see destinations close to China’s east coast like Seoul and Osaka featured in the rank, as well as holiday favorites Bangkok and Bali further south.  With the unique advantage of its ‘Asia hotels’ network, Agoda is committed to helping Chinese customers to experience the rest of Asia for less with its great value deals.”

Agoda continues to support travelers by offering over 4.5 million holiday properties globally, more than 130,000 flight routes, and over 300,000 activities, all of which can be conveniently combined in the same booking. For more information on travel options during China’s Golden Week, visit agoda.com or download the Agoda app.

About Agoda

Agoda, a digital travel platform, helps anyone see the world for less with its great value deals on a global network of 4.5M hotels and holiday properties worldwide, plus flights, activities, and more. Agoda.com and the Agoda mobile app are available in 39 languages and supported by 24/7 customer support.

Headquartered in Singapore, Agoda is part of Booking Holdings (Nasdaq: BKNG) and employs more than 6,900 staff in 25 markets, dedicated to leveraging best-in-class technology to make travel even easier.

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SOURCE Agoda

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AECOM supports the Highways Department in winning the Hong Kong Institute of Surveyors Awards for innovative road safety technology

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September 23, 2024

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HONG KONG, Sept. 23, 2024 /PRNewswire/ — AECOM, the world’s trusted infrastructure consulting firm, today announced that a Road Defect Detection System (RDDS) technology it has developed in partnership with the Highways Department of HKSAR Government (HyD) has secured two prestigious awards from the Hong Kong Institute of Surveyors (HKIS). This RDDS project, under part of the award-winning topic “Sustainability Strategy in Road and Tree Inspection by Advanced Geo-spatial Technology,” integrates advanced geographic information system (GIS) and artificial intelligence technologies to automatically detect road defects. The new technology aims to streamline the road inspection process, improving maintenance efficiency, effectively allocating resources and helping ensure public safety.

“AECOM is dedicated to delivering innovative solutions that meet our clients’ specific needs and address their complex challenges. From deploying the world’s largest tunnel boring machine for the Tuen Mun-Chek Lap Kok Link project to integrating GeoAI in our Road Defect Detection System, we harness emerging technologies to support the Highways Department in delivering landmark projects that span tunnels, bridges, highways, and now digital solutions,” said Ian Chung, chief executive of AECOM’s Asia region.

The jointly developed RDDS technology responds to the pressing need to effectively survey Hong Kong’s vast and complex road network. To provide a superior alternative to traditional inspection methods, the AECOM and HyD teams developed an approach that automatically detects defects from road images captured by a vehicle-based camera system.

Integrating the two organizations’ geospatial expertise, the technology uses AI to identify cracks and discolored road markings from road images, which can then be viewed on a web application platform that integrates data such as quantity, location, and severity for engineers to review and assess. The multi-step system simplifies the inspection process and allows for more efficient resource allocation — bringing greater efficiency to HyD’s road maintenance work and supporting a safer road network.

The HKIS honored the technology with the Innovative Surveying Award, which commends industry participants for outstanding project quality in innovative surveying technology, and the Post-occupation Category Grand Award, which recognizes the surveyors’ efforts in enhancing work efficiency and precision through innovative technology at post-occupation stage.

The HKIS Awards aim to recognize the outstanding achievements of Hong Kong surveyors. The awards align with the Sustainable Development Goals set by the United Nations, affirming surveyors’ exceptional accomplishments in sustainable development projects and their contributions to improving environmental outcomes and promoting a sustainable future for Hong Kong.

For more details about the project, please visit here.

 

 

About AECOM 

AECOM is the world’s trusted infrastructure consulting firm, delivering professional services throughout the project lifecycle – from advisory, planning, design and engineering to program and construction management. On projects spanning transportation, buildings, water, new energy and the environment, our public- and private-sector clients trust us to solve their most complex challenges. Our teams are driven by a common purpose to deliver a better world through our unrivaled technical and digital expertise, a culture of equity, diversity and inclusion, and a commitment to environmental, social and governance priorities. AECOM is a Fortune 500 firm and its Professional Services business had revenue of US$14.4 billion in fiscal year 2023. See how we are delivering sustainable legacies for generations to come at www.aecom.com/hk/.

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SOURCE AECOM

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