Doubleview Gold Corp Provides End of 2023 Exploration Update at the Hat Polymetallic Project

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2023) – Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the “Company or “Doubleview”) is pleased to announce the successful completion of its 2023 exploration and drilling program at the Hat Polymetallic Project situated in the Golden Triangle of British Columbia.

Key achievements of the 2023 exploration program:

Scope and Targets: The comprehensive program successfully covered all intended work programs and explored designated targets. Notably, this marked the largest work program to date at the Hat project.

Main Objective: The primary focus of the 10,500-meter diamond drilling exploration program was to examine the dimensions and characteristics of Copper, Gold, Scandium, and Cobalt mineralization within the Main Lisle Zone of the Hat deposit and its environs. The deposit remains open in all directions.

Sample Analysis: In the current season, 5,220 samples, weighing 25.5 tonnes, were shipped to ALS laboratories, a fully accredited and globally recognized facility in North Vancouver, British Columbia, Canada.

Connecting Deposit Envelopes: A key objective was to enhance connectivity between the deposit envelopes of the Main Lisle deposit and surrounding volumes, creating a cohesive united mass.

NI 43-101 Maiden Resource Estimate: The final achieved and explored volume will serve as the domain envelope for the NI 43-101 maiden resource estimate, anticipated to be disclosed in Q1, 2024.

Budgeting and Cost Controls: Exploration expenses in NW, British Columbia have increased rapidly in recent years. Maintaining tight controls on costs was a key focus of management for the 2023 exploration season. The company drilled approximately 10.500 meters for an estimated %40 of the industry standard costs for a similar drilling campaign.

Farshad Shirvani, President, and CEO stated, “It has been a tremendous year for Doubleview Gold Corp. Accomplishing many goals for the Hat Deposit, our projections reveal significant potential for lateral and depth extensions of this copper-gold deposit, enriched with cobalt and scandium. Importantly, the drilling and exploration program adhered to our projected budget.”

Assay Results:

Assays are being received on a continuous basis and will be published as they are received and verified.

Doubleview maintains a website at www.doubleview.ca.

Cautionary Note: Although a mineral resource estimation is currently being prepared by an independent engineering firm, no mineral resources have been estimated at the Hat Property and there is no assurance that further work will result in the Lisle Zone, or other zones if present, being classified as mineral resources.

About Doubleview Gold Corp

Doubleview Gold Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX-Venture Exchange (TSXV: DBG) (OTCQB: DBLVF) (GER: A1W038) (FSE: 1D4). Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. The Company’s portfolio of strategic properties provides diversification and mitigates investment risks.

On behalf of the Board of Directors,

Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Gold Corp
Vancouver, BC Farshad Shirvani
President & CEO

T: (604) 678-9587
E: corporate@doubleview.ca

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/189250

International Water-Guard Industries, Inc. (IWG) Selected to Provide Lavatory Components Including Touchless Faucets and Water Heaters to Airbus

SURREY, BC, Nov 30, 2023 – (ACN Newswire) – International Water-Guard Industries, Inc. (IWG) announced today that it has been selected to provide Lavatory components including Touchless Faucets and Water Heaters to Airbus for installation on their A320, A330, and A350 series airframes.

The contract scope covers standard fit, customer select options, and all aftermarket support requirements.

“Putting our customers first, engineering innovative airborne water management solutions, and consistently living up to our core values with a driving principle of doing what we say we will do is what we focus on at IWG and I believe was a key driver in Airbus’ decision to partner with us on this program,” said Steven Bis, President and CEO of International Water-Guard.

“We have built a great working relationship with Airbus, and we look forward to developing this further as we embark on this project. Building on over 30 years of designing, producing, maintaining and supporting our own aviation potable water products, we are committed to meeting the needs and expectations of Airbus and their customers,” continued Steven Bis.

The project begins today and will see IWG products on Airbus aircraft as early as 2025.

International Water-Guard Industries Inc. is a Canadian aerospace company focused on aircraft potable water components and systems. Our team of aviation water professionals develops innovative solutions that address the requirements and issues surrounding on-board water supply. IWG is a leading provider of flight-certified potable water treatment units, on-demand water heaters, lavatory water components, compact water systems, potable water weight management solutions (Pre-Select), and lightweight valves.

Contact Information:

Lucrecia Leon
Marketing Manager
lleon@water.aero
604 255 5555

Steven Bis
President and CEO
sbis@water.aero
604 255 5555

David J. Pohl
Director of Strategic Development
dpohl@water.aero
604 255 5555

APB Announces Resilient Q4 FY2024 Financial Performance admist Market Fluctuations

SHAH ALAM, Malaysia, Nov 30, 2023 – (ACN Newswire) – APB Resources Berhad (“APB” or the “Group”), a leading fabricator of design engineering equipment, today announced the Group’s financial results for the fourth quarter of financial year 2024 (4QFY2024).

The Board of Directors has approved a change in the Company’s financial year end from 30 September 2023 to 31 March 2024. The next financial year will span from 1 October 2022 to 31 March 2024, covering an 18-month period. Subsequent financial year ends will be on 31 March annually, allowing sufficient time for newly appointed Directors in June 2023 to gain a better understanding of business operations.

In the face of dynamic market conditions, APB maintained a solid revenue standing at RM18.9 million for 4QFY2024. While this reflects a slight adjustment of 5.1% year-on-year (YoY) from RM20.0 million, it underscores the Group’s ability to sustain its business operations amidst varying market demands. This period saw a strategic shift in the Group’s product mix, resulting in a gross profit margin of 33.9%, compared to 37.1% in 4QFY2022.

The Group’s profit after tax for the quarter was RM2.3 million. This outcome, while modest compared to RM4.8 million in 4QFY2022, is largely a result of prudent financial adjustments, including the net reversal of impairment losses on trade receivable and liquidated and ascertained damages from the prior year. Notably, APB showcased operational resilience on a quarter-on-quarter (QoQ) basis, achieving an uptick in profit after tax, rising from RM2.0 million in the preceding quarter to RM2.3 million in 4QFY2024. This improvement is attributed to an enhanced gross profit margin, bolstered by a more favourable product mix.

The management team of APB commented: “Our strategic efforts are now more crucial than ever. With the welcome addition of Datuk Koon Poh Tat as a substantial shareholder in June 2023, and the recent appointments of new members to our Board of Directors, we are invigorated and well-prepared to navigate the evolving market landscape. As we see a gradual uptick in demand within our key markets, we are poised to leverage our extensive experience in the fabrication of process equipment to meet this growing demand and drive our next phase of growth. These new developments within our leadership structure reinforce our commitment to strategic advancement and operational excellence.”

To conclude, APB is optimistic about the future, especially in the fabrication sector. With the industry showing signs of revived capital spending, particularly in areas where APB has established its expertise such as oleo-chemical, oil & gas, energy, and petrochemical sectors, the Group is well-positioned to capitalize on these emerging opportunities.

As of 30 November 2023, the share price of APB stands at RM2.41, representing a market capitalisation of RM272.0 million.

MedTech Innovations and Digital Breakthroughs: Announcing the 2023 Pharma IT Summit for a Future-Ready Pharmaceutical Landscape

MUMBAI, INDIA, Nov 30, 2023 – (ACN Newswire) – A notable pharmaceutical company in India faced significant challenges in overseeing its complex IT infrastructure. Obsolete legacy systems, inconsistent data sources, and the need to comply with strict regulatory requirements hampered innovation and operational effectiveness. Consequently, the company launched a broad Pharma IT initiative. A cloud-based infrastructure was implemented to centralise data storage, guaranteeing scalability and accessibility. The incorporation of cutting-edge analytics tools enhanced research and development, promoting data-driven decision-making. Concurrently, a strong cybersecurity framework was established to ensure adherence to regulatory mandates and protect confidential patient data.

The Pharma IT transformation yielded impressive outcomes. The implementation of advanced analytics resulted in an impressive 20% reduction in drug development cycles, while a streamlined infrastructure led to a noteworthy 30% reduction in operational costs. The cybersecurity measures improved the company’s reputation for data security in addition to complying with regulations. The company not only overcame immediate difficulties by implementing state-of-the-art Pharma IT solutions, but it also established itself as a market leader in India’s very competitive pharmaceutical sector. This transformation was a great success and demonstrated how important IT is to driving innovation, efficiency, and compliance in India’s ever-expanding pharmaceutical industry.

An overview of the 14th Edition Of the Pharma IT Summit:

Recognized as the “world’s pharmacy,” India’s pharmaceutical industry stands at the forefront of groundbreaking innovation, particularly in the realm of life-saving medicines. Within the global pharmaceutical sector, India has emerged as a significant and ascendant player. The industry holds a pivotal role in the worldwide healthcare system, with market projections anticipating a reach of $1.5 trillion by 2023. Furthermore, it constitutes a substantial portion of India’s GDP, contributing over 5% to the nation’s economic output. Notably, India claims the title of the largest supplier of generic drugs globally, with a staggering 20% of the world’s supply originating from the country. The sector is poised for continued expansion, with forecasts indicating a market size of $100 billion by the year 2025.

The 14th Edition of the Pharma IT Summit is dedicated to propelling pharmaceutical technology forward through a commitment to collaboration, innovation, and education. This conference serves as a platform for in-depth discussions on crucial topics such as AI & ML, digital transformation, Industry 4.0, cybersecurity, and more. Whether you are a seasoned professional in the pharmaceutical industry, a tech expert, or someone intrigued by the latest advancements in the field, the Pharma IT Summit offers valuable insights for everyone involved. This summit stands as a testament to the dynamic intersection of pharmaceuticals and technology, fostering an environment where ideas converge to shape the future of healthcare.

Addressing the ever-growing concern about cybersecurity in the pharmaceutical sector, the summit will delve into topics like:

Creating a Culture of Innovation: The Vital Role of Government in Pharma
Digital Disruption in Pharma: Challenges and Opportunities
The era of digital adoption – Industry 4.0
The Role of technology in Accelerating Drug Discovery and Development
Unleashing the Potential of AI and Data Analytics in Pharmaceutical Innovation
Cybersecurity in Pharma: Risks and Mitigation Strategies

Who can attend?

The Exito DevOps Summit will be attended by top executives and leaders like CIO’s, CTO’s, Head of Cloud Security, Engineering Directors, Directors of IT, Heads of UI/UX, Product Managers, APP developers, Chief Architects, Network Engineers from a variety of industries including Government, Foreign Utilities, Telecom, Education, Healthcare, Manufacturing,Logistics & Supply, Ecommerce & Retail, BFSI & Fintech, Pharma & Life sciences, Construction and Hospitality.

About Exito:

Exito, which means success in Spanish, embodies our commitment to the success of our customers. Each year, we host over 240 virtual and in-person conferences globally, bringing together audiences with world-class thought leaders and C-level executives across industries. Our meticulously crafted agendas, based on extensive research and valuable industry insights, facilitate business, knowledge transfer, deal flow, and impactful messaging for brands.

For Media Enquiries, contact:
Kasturi Nayak (Sr. Marketing Executive)
Kasturi.nayak@exito-e.com
Enquiry@exito-e.com
Exito Media Concepts

Hektar REIT and University of Reading Malaysia Forge Transformative Partnership for Educational Excellence and Community Development

KUALA LUMPUR, Nov 30, 2023 – (ACN Newswire) – Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (“Hektar REIT”) is delighted to announce a collaboration with the University of Reading Malaysia. In a strategic move underscoring Hektar REIT’s commitment to community development, a memorandum of understanding (MOU) has been signed with the University of Reading Malaysia, specifically targeting students from the Henley Business School. This collaboration emphasizes Hektar REIT’s recognition of education as a foundation for building stronger communities.

Sabrina Halim, General Manager, Business Development & Strategy and Johari Shukri bin Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd.; Professor Wing Lam, Provost and CEO of University of Reading Malaysia, and Professor Teck Yong Eng, Professor of Business Enterprise & Analytics, Head of Henley Business School Malaysia[L-R]

This partnership aligns with Hektar REIT’s dedication to supporting educational endeavours and fostering a well-rounded talent pool essential for societal progress and industry readiness. The initiative encompasses various forms of support for students, such as bursaries, cash rewards for high-achieving individuals, as well as opportunities for internships and placements. Through these efforts, Hektar REIT aims to make a positive impact by fostering the growth of the next generation of professionals and leaders.

ED & CEO of Hektar Asset Management Sdn Bhd

Hektar REIT plans to offer practical opportunities for students through internship programs, allowing them to gain valuable hands-on experience. This is in line with Hektar REIT’s goal to bridge academic learning with real-world applications, ensuring students are well-prepared for their future careers. Additionally, Hektar REIT is looking forward to introducing Graduate Trainee Programs at a later stage, further enriching the students’ professional development.

En. Johari Shukri bin Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd. expressed his views on this initiative, “We are excited about this collaboration with the University of Reading Malaysia. Our collaboration exemplifies our commitment to ESG values. By harmonizing business operations with sustainability, we aim to set a precedent for responsible corporate practices that benefit both our stakeholders and society at large. It is indeed an opportunity for us to contribute to the growth and development of young minds. This aligns perfectly with our goal to achieve business success and play a role in nurturing future talent and giving back to the community. Through education and practical learning experiences, we believe we can make a positive impact on society. Together, we aspire to cultivate a generation of responsible professionals and contribute to the betterment of society.”

This collaborative effort is part of Hektar REIT’s broader strategy to integrate business operations with sustainable and socially responsible practices. Hektar REIT stands at the forefront of a paradigm shift, recognizing the imperative to integrate ESG principles into the core of its operations. This collaboration with the University of Reading Malaysia serves as a testament to Hektar REIT’s proactive approach to balancing business objectives with a genuine commitment to societal welfare.

Noah Holdings Posts Solid Q3 Financial Performance as Global Expansion Gains Momentum

SHANGHAI, Nov 30, 2023 – (ACN Newswire) – Noah Holdings Limited (the “Company,” or “Noah”) (NYSE: NOAH and HKEX: 6686), a leading wealth management service provider offering comprehensive global investment and asset allocation advisory services primarily for high-net-worth investors, today announced its unaudited financial results for the third quarter ended September 30, 2023.

Amid global market uncertainty and instability in the Chinese wealth management industry, Noah grew both net revenues and non-GAAP net income on a year-on-year basis during the quarter. The robust performance was driven by Noah’s reputation for offering prudent and compliant asset allocation solutions as well as its expansion in key overseas hubs to meet demand for global exposure among Chinese high-net-worth investors.

“We are proud of our resilient performance in the third quarter and through the first nine months of the year, which validates our commitment to upholding the highest standards of compliance,” said Ms. Jingbo Wang, co-founder and CEO of Noah. “We listen closely to our clients’ needs, and we have overhauled our offering in recent years to address the changing priorities of Chinese high-net-worth individuals and their families. In countless conversations with our Black Card clients, we have observed a shift in focus away from specific products and returns and towards broader considerations including asset security, enterprise and family succession plans, and global strategic asset allocation. Our differentiated wealth and asset management offerings are designed to address the demands of this new investment environment through independent and objective allocation advice, a solutions-based offering, and global services. The fact that we have continued to improve our financial metrics and grow our client base amid the recent strains in China’s wealth management industry indicates that we are creating real and long-term value for our clients. We are ready to build on these results based on our core competitive advantages: a strong balance sheet to fuel our expansion strategy, a clean Assets Under Advisory (AUA) free of real estate and trust products, a deep bench with international experience, and a well-established global workforce. Leveraging these key differentiators, we are increasingly confident in our abilities to carefully navigate an increasingly complex macroeconomic environment and create value for our shareholders.”

Over the first nine months of 2023, Noah generated total revenues of RMB 2.5 billion, an 11.9% year-on-year increase, with RMB 1.9 billion from wealth management and RMB 582 million from asset management. The domestic business contributed 59.9% of total net revenues.

Insurance distribution continued to be a key growth driver for Noah during the first three quarters of 2023, with the domestic insurance brokerage business growing 63.4% year-on-year and revenue from overseas insurance, trust, and other comprehensive services surging 381.8% year-on-year. Through sustained investments in technology, Noah has become the first company to offer fully digital insurance applications and premium payment in the Hong Kong market.

In the domestic business, Noah continued to focus on expanding its presence in first-tier cities and other major population centers. The Company has emulated other world-class wealth management companies by implementing a ‘CCI’ asset allocation model, in which the CIO office identifies salient macro trends, the CSO office creates customized investment strategies for various segments of the clientele, and the IPS team turns these strategies into standardized products. During the quarter, Noah rolled out features such as one-click CCI portfolio reports in its app, catering to domestic investors’ growing appetite for sophisticated research-based insights and allocation advice.

Internationally, Noah hit another milestone in its global expansion with the opening of its client service center in Los Angeles. The Company also continued to scale up its team of international relationship managers in Singapore and Hong Kong, remaining on pace to hire 120 overseas private bankers by year-end. As of the third quarter of 2023, Noah International had more than 14,200 international clients, with the number of clients in Hong Kong and Singapore growing by 12.8% and 315.2% year-on-year, respectively, in the third quarter of 2023. Noah also made progress on setting up its new Dubai office. Overseas revenue increased by a remarkable 85.1% year-on-year to RMB 1 billion for the first three quarters, accounting for 40.1% of revenues, a significant increase from 24.3% last year.

During the quarter, Noah continued to drive its transformation by further integrating private banking into its DNA. In addition to hiring overseas private bankers and opening international client service centers, the Company has launched the N+ program to provide clients with high-end personalized experiences and held Black Card Client Global Summits in Shanghai and Hong Kong, with plans to hold corresponding events in the United States and Dubai in the future. Complementing its comprehensive offering of domestic and international investment solutions, these initiatives are aimed at establishing Noah as the premier advisor to Mandarin-speaking individuals, institutions and family offices.

Noah maintains a healthy liquidity position with nearly RMB 5.0 billion in cash and cash equivalents on its balance sheet. In addition, Noah’s board of directors recently approved a new capital management and shareholder return policy, under which the Company will allocate up to 50% of annual non-GAAP net income attributable to shareholders to a corporate actions budget to be used for various purposes including dividend distribution and share repurchases. Within the limits of the corporate actions budget, Noah will allocate no less than 35% of its annual non-GAAP net income attributable to shareholders towards dividends, subject to various factors. In addition to elevating the Company’s benchmark dividend payout ratio, the new policy will empower Noah’s management to also implement a share repurchase program, allowing it to seize the opportunity presented by what it perceives as an undervalued share price.

Noah’s full financial results for the third quarter are available at ir.noahgroup.com.

ABOUT NOAH HOLDINGS LIMITED

Noah Holdings Limited (NYSE: NOAH and HKEX:6686) is a leading and pioneer wealth management service provider in China offering comprehensive one-stop advisory services on global investment and asset allocation primarily for high net worth investors. Noah is a Cayman Islands holding company and carries on business in Hong Kong as Noah Holdings Private Wealth and Asset Management Limited. In the first nine months of 2023, Noah distributed RMB57.5 billion (US$7.9 billion) of investment products. Through Gopher Asset Management, Noah had assets under management of RMB154.9 billion (US$21.2 billion) as of September 30, 2023.

Noah’s wealth management business primarily distributes private equity, private secondary, mutual fund and other products denominated in RMB and other currencies. Noah’s network covers major cities in mainland China, as well as offices in Hong Kong (China), Taiwan (China), New York, Silicon Valley and Singapore. A total of 1,408 relationship managers across 59 cities provide customized financial solutions for clients through this network, and meet their international investment needs. The Company’s wealth management business had 452,222 registered clients as of September 30, 2023. Through Gopher Asset Management, Noah manages private equity, public securities, real estate, multi-strategy and other investments denominated in RMB and other currencies. The Company also provides other services.

For more information, please visit Noah at ir.noahgroup.com.

SAFE HARBOR STATEMENT

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident” and similar statements. Noah may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in announcements, circulars or other publications made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Noah’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. These statements include, but are not limited to, estimates regarding the sufficiency of Noah’s cash and cash equivalents and liquidity risk. A number of factors could cause Noah’s actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: its goals and strategies; its future business development, financial condition and results of operations; the expected growth of the wealth management and asset management market in China and internationally; its expectations regarding demand for and market acceptance of the products it distributes; investment risks associated with investment products distributed to Noah’s investors, including the risk of default by counterparties or loss of value due to market or business conditions or misconduct by counterparties; its expectations regarding keeping and strengthening its relationships with key clients; relevant government policies and regulations relating to its industries; its ability to attract and retain qualified employees; its ability to stay abreast of market trends and technological advances; its plans to invest in research and development to enhance its product choices and service offerings; competition in its industries in China and internationally; general economic and business conditions globally and in China; and its ability to effectively protect its intellectual property rights and not to infringe on the intellectual property rights of others. Further information regarding these and other risks is included in Noah’s filings with the U.S. Securities and Exchange Commission and the Hong Kong Stock Exchange. All information provided in this press release and in the attachments is as of the date of this press release, and Noah does not undertake any obligation to update any such information, including forward-looking statements, as a result of new information, future events or otherwise, except as required under the applicable law.

Contact info:

Noah Holdings Limited

E-mail: in_communication@noahgroup.com

Jati Tinggi Aims to Raise RM18.04 Million from ACE Market IPO

KUALA LUMPUR, Nov 30, 2023 – (ACN Newswire) – Jati Tinggi Group Berhad, one of the players in the field of infrastructure utilities engineering industry, today unveiled its prospectus in anticipation of its forthcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.

The Group aims to raise RM18.04 million through the issuance of 66.80 million new shares priced at RM0.27 per share. The capital to be raised will be allocated to support the Group’s growth, enhance operational capacities and strengthen its financial position.

The usage of proceeds is outlined as follows:

• RM7.00 million to be directed towards the repayment of bank borrowings;

• RM7.34 million will be earmarked for general working capital purposes;

• RM0.20 million will be invested in capital expenditure, specifically in the procurement of winch machines; and

• RM3.50 million is allocated to cover the estimated expenses associated with the listing process.

Managing Director of Jati Tinggi, Dato’ Seri Lim Yeong Seong remarked, “At Jati Tinggi, we strive to achieve operational excellence and embrace sustainable practices. This IPO marks a key milestone; it reflects our dedication to excellence and for sustainability as well as growth. The funds to be raised will play a crucial role in enhancing our capabilities in supporting our future growth as our Group will have access to a larger pool of financial resources which would facilitate our Group’s efforts to secure and undertake more and/ or larger projects in the future.”

Head of Corporate Finance of TA Securities Holdings Berhad (“TA Securities”), Mr. Ku Mun Fong said, “Jati Tinggi’s performance over the last 3 full financial years showcases its foundation and strategic planning. This IPO is a significant step, set to expand Jati Tinggi’s reach, strengthen its position, and establish itself as a prominent player in the infrastructure utilities engineering industry.”

TA Securities is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO.

IMA Launches Certification Focused on Foundational Financial and Managerial Accounting Knowledge

SINGAPORE, Nov 30, 2023 – (ACN Newswire) – IMA® (Institute of Management Accountants), the worldwide association of accountants and financial professionals in business, today announced the launch of a new foundational certification in the accounting and finance profession. The FMAA™ (Financial and Managerial Accounting Associate) instills the fundamental knowledge and competencies in accounting and finance, allowing professionals early in their careers to showcase their expertise to employers and build a foundation to expand their skills.

“The FMAA provides a flexible and practical path for individuals who want to prove their ability to speak the language of business with current and future employers,” said Mike DePrisco, president and CEO of IMA. “As knowledge of accounting fundamentals becomes more critical for businesses and coupled with the shortage of professionals pursuing accounting and finance careers, the FMAA minimizes traditional barriers to entry and opens opportunities to others from across other professions and industries.”

Emphasizing the FMAA’s foundational role in the region, Josh Heniro, Ph.D., Managing Director at IMA Asia Pacific, said, “The FMAA represents a pivotal starting point in the accounting and finance profession in Asia Pacific, catering not only to those embarking on their careers but also to those in mid-career transitions seeking a foundational understanding. This certification imparts essential skills and concepts, making it a valuable tool for professionals at different points in their careers. Beyond these foundational aspects, the FMAA also establishes a framework for ongoing growth and professional development through continuous education.”

Those who acquire the FMAA will build knowledge in five content domains: general accounting and financial management, financial statement preparation and analysis, planning and budgeting, cost management and performance metrics, and professional ethics. The two-hour exam includes 80 multiple choice questions. The FMAA has no prerequisites to pursue the certification.

“The FMAA is an innovative opportunity for professionals to acquire essential accounting and finance skills for everyday use in the workplace,” said Ella Suponitskiy, CMA (U.S.), CPA, CAE, vice president, certification, at IMA. “With its accessibility to all business professionals, regardless of educational background, the FMAA is the perfect entry point into the accounting and finance profession. The FMAA allows individuals to start their careers with impact as certified professionals.”

Registration for the FMAA will open in January 2024 for the initial testing windows of March 2024 in English and May 2024 in Chinese. Exams will take place globally at Prometric testing centers.

For more information about the FMAA, visit https://www.imanet.org/FMAA-Campaign.

About IMA (Institute of Management Accountants)

IMA is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the U.S. CMA® (Certified Management Accountant), CSCA® (Certified in Strategy and Competitive Analysis), and FMAA™ (Financial and Managerial Accounting Associate) certification programs, continuing education, networking, and advocacy of the highest ethical business practices. Twice named Professional Body of the Year by The Accountant/International Accounting Bulletin, IMA has a global network of about 140,000 members in 150 countries and 350 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its six global regions: The Americas, China, Europe, Middle East/North Africa, India, and Asia Pacific. For more information about IMA, please visit www.imanet.org.

Media contact:
Sunantha Huang
Tel: +65 6493 3113 / +65 6909 5647
Email: sunantha.huang@imanet.org

Tat Hong Equipment Service Co., Ltd. Announces 2023/24 Interim Results

HONG KONG, Nov 29, 2023 – (ACN Newswire) – Tat Hong Equipment Service Co., Ltd. (“Tat Hong” or the “Company”, together with its subsidiaries, the “Group”) (Stock Code: 2153), the first foreign-owned tower crane service provider established in the PRC, has announced its interim results for the six months ended 30 September 2023 (the “Period”).

During the Period, the Group recorded revenue of approximately RMB 358.6 million, down by RMB 28.8 million, or 7.4%, against the six months ended 30 September 2022. Loss attributable to equity holders of the Company for the Period amounted to RMB 20.4 million, narrowing by approximately 51.2% when compared with that for the period ended 30 September 2022 (2022: loss of RMB41.9 million). The improvement was primarily due to (i) decrease in exchange loss arising from foreign currency loan, resulting in a decrease in finance costs, and (ii) decrease in cost of sales due to a decrease in material and repair costs and labor subcontracting cost. The average monthly service price of tower cranes per tonne metre (TM) in use decreased from RMB 257 to RMB 225. Overall gross profit and gross profit margin decreased to RMB 63.8 million and 17.8%, respectively.

The Group’s TM in use increased to 1,594,911 for the Period from 1,577,983 for the pervious same period. As at 30 September 2023, the Group had 268 projects in progress and will generate revenue (excluding value added tax) of approximately RMB 460.7 million, and 73 projects on hand will generate revenue (excluding value added tax) of approximately RMB 224.7 million. Of those projects, the Group expects to complete approximately RMB 380.4 million worth of revenue work by the end of 30 September 2024, boasting solid earnings prospect and high earnings visibility.

During the Period, China’s construction industry was still dragged by the slow post pandemic economic recovery. Supply of new domestic construction projects decreased substantially compared with last year. That resulted in a decline in average monthly service price of tower cranes per TM. To minimize the impact of slack domestic business on its performance, the Group accelerated deployment in overseas markets during the Period. Efforts have been made to build inroads into other foreign geographical territories to increase future revenue. While maintaining its position in the domestic market, the Group expanded its geographical footprint to the Greater Bay Area including Hong Kong and Macau. By June 2023, the first unit of tower crane was deployed in Hong Kong, and more than 20 units in Macau.

At the same time, the Group had invested notably in its self-developed digital management tools “TOP” and “iSmartCon” to improve management and operational efficiency. As at 30 September 2023, the Group held 146 registered patents for utility models and inventions related to tower cranes. It believes the robust technical capabilities of its tower cranes services will continue to position it favourably in securing projects. Furthermore, the Group’s persistent focus on research and development of tower crane technical solutions will further strengthen its ability to deliver exceptional services.

Mr. Sean Yau, CEO of Tat Hong Equipment Service Co., Ltd. said, “With the central government providing at least RMB 1 trillion of low-cost financing to three major types of infrastructure projects, namely Urban village redevelopment, Affordable housing projects and ‘Dual-use for normal and emergency purposes’ projects, domestic housing demand is expected to increase, which will in turn boost the real estate and construction market. At the 10th anniversary of the Belt and Road Initiative, overall demand by participating countries for infrastructure projects, including traditional infrastructure, new infrastructure and energy projects, has greatly increased. We will make timely adjustment to our operational and geographical strategies to respond to the evolving global market environment.”

Mr. Roland Ng, Chairman of Tat Hong Equipment Service Co., Ltd. said, “Although the market is gradually recovering, the market trend overall is still full of uncertainties. Nonetheless, the Group has been able to cope with the complex and volatile environment by adjusting its operational strategies at the right time. A leading tower crane service provider in the industry, Tat Hong is currently one of the few enterprises in China that has ‘gone out’, testifying to its capabilities and leadership in China’s construction industry. We boast a stable, reputable and loyal customer base and expect to continue to expand into more Asian markets and enlarge market share in the future. Guided by our core values of ‘Virtue, Safety and Excellence”, we will strive to keep elevating our strategic sustainable development goals. By enhancing digital management, we can better share resources, reduce cost and heighten efficiency, plus aggressively pursue international businesses at the same time. This series of measures can help the Group improve operational efficiency and fulfil its goal of becoming ‘the best construction equipment service provider’ in the industry.”

About Tat Hong Equipment Service Co., Ltd. (Stock Code: 2153)

Tat Hong Equipment Service Co., Ltd. is the first foreign-owned tower crane service provider established in the PRC. Since 2007, the Group has established as a tower crane service provider for one-stop tower crane solution services from consultation, technical design, commissioning, construction to after-sales services primarily to Chinese Special-tier and Tier-1 EPC contractors. Guided by its core values, “Virtue, Safety and Excellence”, the Group has successfully established its market position and maintained stable, reputable and loyal customer base in the construction industry in the PRC.

Acrometa Posts Record Revenue of S$69.5 Million for FY2023, Continues to Pursue New Opportunities in Co-Working Lab Space Business

SINGAPORE, Nov 29, 2023 – (ACN Newswire) – ACROMETA Group Limited (“ACROMETA”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, today announced its financial results for the 12 months ended 30 September 2023 (“FY2023”).

The Group’s revenue for FY2023 saw a 12% increase to S$69.5 million, a historical high for the Group, primarily attributed to the Engineering, Procurement and Construction (“EPC”) segment’s strong performance. Gross profit increased by 19% from S$9.8 million for FY2022 to S$11.7 million for FY2023, while gross profit margins improved from 15.7% for FY2022 to 16.8% in FY2023.

The Group’s continuing operations comprising of its specialist EPC and maintenance segments recorded a profit of S$2.2 million on the back of a 10.8% growth in revenue from S$62.3 million for FY2022 to S$69.0 million for FY2023. However, the operating environment remains challenging amidst increased operational costs in energy, labour, and materials as a result of inflationary pressures in the global economy.

In May 2023, the Group ventured into the co-working laboratory space segment through the acquisition of Life Science Incubator Pte Ltd (“LSI”), which currently manages a 6,500 sqft co-working laboratory space at The German Centre, Singapore. Under the Group’s leadership, LSI has made significant inroads with new partnerships across Singapore, Australia, and China for new co-working laboratory space projects, reflecting the Group’s continued efforts to broaden its revenue stream and capture new regional opportunities.

Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman, said,

“We will continue our current focus on expanding the laboratory construction and co-working laboratory space businesses, both of which are currently cash flow positive with promising long-term prospects amidst an encouraging flow of business opportunities and projects in the last twelve months.”

The Group’s co-working laboratory space segment contributed positively to AcroMeta’s FY2023 results and will be developed as a new engine of growth for the Group’s business moving forward.

While the Group’s continuing operations delivered a profit of S$2.2 million, the Group reported a net loss attributable to owners of S$7.5 million in FY2023 due to the one-off impairment and provisions. Excluding these, the net profit would be S$2.3 million compared to FY2022 net profit of S$2.9 million.

The one-off impairment and provisions relating to discontinuing operations related to renewable energy business are based on historical expenditure and have minimal impact on the Group’s ongoing cashflow. The Group’s net asset value remains positive at S$2.6 million or 0.93 cents per share as at 30 September 2023 while the Group’s cash and cash equivalents are stable at S$4.4 million as at 30 September 2023 as compared to S$4.1 million as at 30 September 2022. The proposed subscription of 12,500,000 shares in the capital of the Company for S$0.5 million, announced in November 2023, is expected to further strengthen the Group’s financial resources.

While renewable energy business is fundamentally promising, the Covid-19 pandemic’s impact on construction as well as regulatory changes meant that the project would continue to require financial support and affect the Group’s allocation of resources. The Group’s prudent step to place Neo Tiew Power Pte. Ltd. (“NTP”), a loss-making indirect subsidiary, under Creditors’ Voluntary Winding Up will enable optimal allocation of resources as the Group continues to progress forward with its specialist engineering and co-working laboratory space business.

This press release should be read in conjunction with the financial statements released by AcroMeta Group Limited today.

About ACROMETA Group Limited (SGX Stock Code:43F)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.

The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities, and cleanrooms.

ACROMETA’s business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates 6,500 square feet of co-working laboratory space at The German Centre in Singapore, serving SMEs and startups.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA’s customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.

The Company has been listed on the Catalist Board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:

ACROMETA Group Limited
Ms. Cheah Lai Min
Chief Financial Officer
Tel: +65 6415 0574
Email: laimin.cheah@acrometa.com

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: query@waterbrooks.com.sg

This media release has been reviewed by the Company’s Sponsor, Evolve Capital Advisory Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”), and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.