Ching Lee Holdings (3728. HK) doubles profit in 2023 interim results, showing strong growth capacity

Ching Lee Holdings Limited “Ching Lee” or “The Group” (stock code 3728.HK) reported its 2023 Interim Results on Monday with a robust performance. Net profits increased by 126.2% to HK$3.4 million, compared to the same period last year. Total revenue recorded 77% of year-on-year growth and profit before tax rose 181.4% from last year.

For the six months ended 30 September 2023, the profit of the Group was mainly attributable to the revenue growth due to a significant increase in new projects of superstructure building works services, projects consisted of development and redevelopment of educational, residential, and commercial buildings. The Group continues to achieve earnings growth and protect shareholders’ interests. Basic earnings per share for the six months ended 30 September 2022 was HK0.34 cents as compared with HK0.15 cents per share for the six months ended 30 September 2022.

The Group has solid financial strength to capture different business opportunities with potential construction projects from our current customer networks. We are focusing on our core business as a main contractor in the private sector in Hong Kong and looking for any opportunities in the public sector in Hong Kong for further business development.

The Group Chairman Mr. Ng Choi Wah stated, “We are confident with the economic outlook and the prospects of the construction industry in Hong Kong under economic recovery and the development of Greater Bay Area. We look forward to the construction industry benefiting from the Government’s Enhanced Supplementary Labour Scheme launched in the third quarter of the year for manpower improvement to support Hong Kong’s long-term development.”

Media enquiries:

New Smile Limited Strategic IR & PR Consultancy

Jenny Lai jenny.lai@newsmilehk.com

Richard Wong richard.wong@newsmilehk.com

Elina Zhang elina.zhang@newsmilehk.com

Tel：+852 2126 7076

Notes to editors:

Ching Lee Holdings Limited “Ching Lee” or “The Group”

Ching Lee Holdings Limited, a limited liability company incorporated under the laws of the Cayman Islands, is a contractor in Hong Kong with over 23 years of experience in public and private sectors. The principal activities of Ching Lee Holdings and its subsidiaries are the provision of construction and consultancy works and project management services in Hong Kong, engaged in providing substructure building works services, superstructure building works services, and repair, maintenance, alteration and addition (RMAA) works services. Ching Lee Holdings Limited was transferred from GEM board to the main board in HKEx on September 18, 2017 with stock code 3728.hk. Company website: http://www.chingleeholdings.com

ASEAN Ceramic 2023 Opens with Record-Breaking Exhibitor Turnout and Appreciation Awards

HANOI, Vietnam, Nov 28, 2023 – (ACN Newswire) – The 7th edition of ASEAN Ceramics exhibition commended today with a spectacular opening ceremony, bringing together prominent figures from the ceramics industry, government officials, and distinguished guests. Hosted at the International Centre for Exhibition (I.C.E.) in Hanoi, Vietnam, this 3-day event is set to be a groundbreaking experience with a record-breaking participation of over 200+ exhibiting brands and companies from 19 countries including four country pavilions representing Italy, China, Korea, and Vietnam as they present a unique variety of the latest ceramic technologies and materials during the exhibition. Covering a total exhibition space of 4,389 square meters, this represents a 150% increase in both exhibiting companies & brands and floor space compared to the previous edition.

The opening ceremony began with a warm welcome from Mr. Michael Wilton, CEO & Managing Director of Messe München /MMI Asia, the exhibition’s organizer. He highlighted the significant role of the ASEAN Ceramics exhibition in fostering continuous development and advancement within the ceramics industry. Mr. Dinh Quang Huy, Chairman of Vietnam Building Ceramic Association and co-organizer of the event, extended greetings and expressed optimism that the exhibition would serve as a catalyst for connecting industry professionals, fostering knowledge exchange, and propelling the industry forward.

The Guest of Honour, Mr. Nguyen Van Sinh, Deputy Minister of Construction in Vietnam, endorsed the exhibition’s success and provided insights into the role of ceramics in the construction industry, emphasizing the importance of sustainable and cutting-edge technologies. Mr. Edy Suyanto, Chairman of Asaki – Ceramics Industry Club of ASEAN (CICA), conveyed the club’s enthusiasm and commitment to promoting collaboration and advancements in the ceramics sector within the ASEAN region.

Representatives from the China Council for the Promotion of International Trade (CCPIT) and the Association of Italian Manufacturers of Machinery and Equipment for Ceramics (ACIMAC) extended their greetings, underlining the global significance of the ASEAN Ceramics exhibition.

The ASEAN Ceramics Appreciation Awards were a highlight of the ceremony, with trophies awarded to outstanding companies. The recipients included exhibitors such as Izawa, Heraues, Aekerola, Rockteam, Benh Mayer, VITIS, TQT, Neptune, KFA, Sacmi, System Ceramics and Adroit. Additionally, associations such as ACIMAC, CCPIT, KFA, VIBCA, TCS, and BCMEA were recognized for their consistent support and contributions.

The ceremony concluded with a symbolic ribbon-cutting, officially opening the exhibition, followed by a VIP tour, offering the distinguished guests an exclusive preview of the latest ceramic technologies and materials showcased by leading companies.

Don’t miss out on the largest-ever edition of ASEAN Ceramics 2023, the premier trade fair for Ceramics – Machinery, Technology, and Materials in Southeast Asia! Prepare for an immersive experience surrounded by the latest industry advancements, innovation showcases, and unparalleled networking opportunities over the three-day event. In addition to the exhibition, ASEAN Ceramics 2023 will feature a comprehensive program of accompanying activities creating opportunities for knowledge exchange, collaboration, and business growth – ASEAN Ceramics Conference, Buyer-Seller Meetings, Pre-event Factory Tours, Ceramic Manufacturer’s Pavilion, Job & Education Fair, Live Demo & Showcase and various Networking opportunities.

About Messe Muenchen GmbH

Messe Muenchen GmbH is one of the world’s leading trade fair organizers with more than 50 trade fairs for capital goods, consumer goods, and new technologies. Every year, Messe Muenchen organizes more than 200 events in Munich, Germany, and abroad, attracting over 30,000 exhibitors and 2 million visitors. The company’s mission is to create innovative, sustainable, and profitable platforms for its customers to do business and connect with their target markets.

About MMI Asia Pte Ltd

MMI Asia is a full subsidiary of Messe München GMBH (MMG) established in 1992 and one of the world largest and leading exhibition organizers. MMI Asia was set up as the regional headquarter and a wholly-owned subsidiary of MMG to promote global trade expansion by facilitating participation of Asian exhibitors in Messe München fairs worldwide. MMI Asia also provides consultancy in professional trade fair and conference management to government bodies, international trade and promotion organizations, and trade associations.

About Vietnam Building Ceramic Association (VIBCA)

Vietnam Building Ceramic Association is a professional organization, non-governmental, voluntary, established under Decision No. 41/1999 / QD – BTCCBCP dated 04-10-1999 of the Minister, Head of the Organizing Committee Government personnel. Currently VIBCA includes around 100 members are enterprises of different economic sectors, operating mainly in the field of building ceramics, including the associate members are research institutions, investment consulting, manufacturing and mechanical engineering. VIBCA is a member of the Association of Asean Ceramics Industry CICA and intimate relationship with the Association Ceramics of countries in Asean and in the world.

Contact:

MMI Asia Pte. Ltd.
Joey Ng – 65 9734 7946
Marketing Executive
joey@mmiasia.com.sg

Vietnam Building Ceramic Association
Ms Vu Thi Kim Dung – 84 915114000
Chief of Foreign Affairs
vibcaoffice@gmail.com

LAC and ART:DIS Collaborates on Exclusive Limited-Edition Umbrellas: A Celebration of Artists Overcoming Disabilities

SINGAPORE, Nov 28, 2023 – (ACN Newswire) – LAC, one of Asia’s leading health and wellness supplement brands, is proud to partner with ART:DIS (Arts & Disability Singapore) for a special festive initiative. As part of their year-end promotion, LAC will be distributing 40,000 limited-edition umbrellas featuring exclusive artworks from 4 talented artists with disabilities – Eugene Soh, Wesley Seah, Ling Teck Mong, and Gregory Burns.

Working with gifted talents locally, ART:DIS is an organisation that champions the cause of individuals with disabilities in the arts sector. Through fostering artistic skills and providing support through structured programmes, ART:DIS not only empowers these gifted artists to voice their unique perspectives, but also offers avenues to transform their passion into sustainable livelihoods.

Through this collaboration, LAC hopes to spotlight the extraordinary talents of these artists, raise awareness about the importance of inclusivity in the arts, and inspire communities to embrace and support individuals with disabilities in their pursuit of passion and profession this festive season. This is also reflected in LAC’s hiring practices, where they currently have 11 employees who are deaf and mute, who have been part of the company for as long as 18 years.

Celebrating Artists From Different Backgrounds

LAC is set to produce 10,000 umbrellas for each design created by the featured artists, and these will be distributed to customers throughout November and December. With a total of 4 distinct designs, one from each artist, LAC will rotate the featured design every two weeks.

In an effort to spotlight the artists, LAC aims to leverage this opportunity to amplify the personalities behind the artworks, offering them a platform to showcase their work to a broader audience.

Abstract – Loyal Blue by Eugene Soh

Eugene, once a physically fit individual faced physical challenges as a result of spinal complications but turned to art for solace. Aa a self-taught artist with a Mathematics degree from the National University of Singapore, he has become a highly sought-after impressionist artist, known for his ethereal works inspired by his deep faith and the works of masters such as Van Gogh.

Fixture of Dreams by Wesley Seah

Once a successful head-hunter with full sight, Wesley faced a life-altering challenge with a rare glaucoma condition, leaving him almost blind. Undeterred, he channeled his resilience into mastering Chinese Ink painting, a therapeutic outlet he discovered in 2015. After refining his skills at LASALLE College of the Arts, Wesley’s evocative art, characterised by dynamic strokes, now extends to colourful acrylic mediums, making him a standout talent at ART:DIS.

Fighting Fish by Ling Teck Mong

From a childhood passion for comic drawing, Teck Mong faced life-changing paralysis from a 1981 road accident. Rather than succumbing to adversity, he immersed himself in art, refining his skills through ART:DIS. Today, his journey of resilience shines through a vibrant portfolio of colored paintings.

East to West Lily by Gregory Burns

Gregory Burns is a Paralympic swimmer with four world records. His artistic journey began in Paris and took root during university, further blossoming during extensive travels through Asia, where he was deeply influenced by the region’s religious and architectural imagery. Completing his Master of Fine Art from the Royal Melbourne Institute of Technology in 1999, this internationally-acclaimed artist, featured on outlets like BBC, Time Magazine, and CCTV, has showcased his work in over 80 exhibitions worldwide, capturing the resilience of the human spirit.

Cynthia Poa, CEO of LAC Global, said of the campaign: “As we approach the festive season, a time of giving and reflection, we at LAC wanted to champion a cause that resonates deeply with us. We chose to support ART:DIS for their admirable mission of empowering artists with disabilities, and our goal is to celebrate the spirit of the season by showcasing these incredible talents. Through this collaboration, we aspire to not only delight our customers but also to amplify the message of inclusivity, diversity, and the enduring beauty of perseverance in the arts.”

Promotion Mechanics & LAC’s Christmas Sale

To own one of these limited-edition UV-protected umbrellas, customers will need to make a minimum purchase of $198 either online or in-stores between 1st November to 31st December to receive the umbrella as a complimentary gift.

Coinciding with LAC’s Christmas Sale which will run throughout November, customers will have the opportunity to stock up on their favourite LAC products or present them as gifts to loved ones with up to 48% off storewide when they purchase 4 items. Receive 28% off on the first and second products, 38% off the third, and 48% off the fourth product to save big while supporting these artists by raising awareness of their artworks.

Wiz Announces New CNAPP Capabilities for Secure Cloud Development

NEW YORK, Nov 27, 2023 – (ACN Newswire) – Today, Wiz is announcing new developer-focused capabilities for its Cloud Native Application Protection Platform (CNAPP). With this news Wiz, which works with 40% of the Fortune 100 and is ranked #1 by customers, deepens support for developers and empowers them to apply industry-trusted security practices across the SDLC.

More than 50% of Wiz users today are outside of the security function. This statistic underscores the integral role Wiz already plays in the lives of its developer customers. Now Wiz is strengthening that relationship with purpose-built secure cloud development capabilities that include code scanning, image integrity, cloud to code remediation, and in-cloud SBOM. Furthermore, the company’s new Wiz extension drives further value for developers by enabling them to understand risk efficiently and simply – right from their AWS Console. This extension makes Wiz the first CNAPP to integrate security insights seamlessly into a user’s natural workflow.

“The successful operationalization of a secure cloud development process is the key to scale your cloud security program,” said Yinon Costica, VP Product & Cofounder, Wiz. “Capabilities like code scanning and in-code remediation deliver on the true promise of cloud-native security and development, because they make fixing risks faster and prevent costly production issues at the source. In this spirit, Wiz is demonstrating our continued commitment to enabling customers to fully embrace the concept of DevSecOps with a simple, intuitive platform.”

Wiz customers testify to the power of this culture shift and underscore the value of extending security practices to developers.

“With Priceline’s large cloud footprint, we want to address systemic issues, ensure our code is secure at build time, and protect our software supply chain,” said Andrew McKenna, Cloud Security Architect at Priceline. “Wiz enabled us to maintain security while shifting left; we have the necessary guardrails in place that give developers autonomy to deploy securely, saving time for both security and dev teams. This has made security into a business enabler, and it’s helped us maintain a frictionless relationship with our teammates in development.”

“As Plaid developers continuously innovate in the cloud, Wiz helps us democratize security across the company,” said Peter David, Head of Security Operations at Plaid. “Wiz uniquely understands the needs of our engineering and security teams and built a product that has enabled us to successfully shift left. In just two weeks, I went from zero automation to successfully automating a bi-directional data synchronization. DevSecOps isn’t just a buzzword; it’s a real promise that Wiz delivers on.”

Contact Information
Rachel Ratchford
Director of Communications
rachel.ratchford@wiz.io

Photonis Aids in TerraPower’s Mission of Low-Cost and Carbon-Free Energy Solutions With Key Components of Operation

STURBRIDGE, MA, Nov 27, 2023 – (ACN Newswire) – Photonis, a subsidiary of Exosens, a market-leading global provider of electro-optic solutions used in the detection and amplification of photons, ions, electrons, and neutrons, is thrilled to announce a pivotal milestone in its journey toward advancing nuclear reactor technology. The company is providing TerraPower, a renowned leader in nuclear innovation, high-temperature ionization chambers to be tested at Ohio State University Research Reactor, as part of the Molten Chloride Reactor Experiment (MCRE) project. The MCRE project is a combined effort under a Risk Reduction award (Department of Energy Award Number DEâ€‘NE0009045) under the US DOE Advanced Reactor Development Program with TerraPower, Southern Company (Prime on Award), Idaho National Laboratory, Core Power, Orano Federal Services, EPRI and 3M as project partners.

TerraPower and Southern Company’s Molten Chloride Reactor Experiment (MCRE) represents a paradigm shift in the nuclear energy landscape, being the first molten-chloride fast reactor built in the world, aimed at measuring key reactor physics parameters and testing key hypotheses to support commercial demonstration of the Molten Chloride Fast Reactor (MCFR).

The MCRE project leverages cutting-edge technology and innovation to enhance the capabilities of nuclear reactors in addressing the critical challenge of carbon reduction.

“We are proud to announce that a commercial agreement has been signed between Photonis and TerraPower for the supply of ionization chambers as part of their Molten Chloride Reactor Experiment (MCRE) project. This experimental reactor to be built at Idaho National Laboratory is intended to provide foundational knowledge towards the design of Molten-Chloride Fast Reactors (MCFRs) in the United States.

“Thereby, TerraPower’s Molten Chloride Fast Reactor (MCFR) project expands the ability of nuclear reactor technology to decarbonize the economy in sectors including and beyond electricity. The MCFR technology operates at higher temperatures than conventional reactors, thus generating electricity more efficiently and without emissions.” – Cyril Barre, Director of Nuclear Instrumentation at Photonis.

Photonis’ ionization chambers are renowned for their precision, reliability, and long operating life, making them the ideal choice for a project as groundbreaking as the MCRE project.

Detectors have been tested at OSURR (Ohio State University Research Reactor) in September 2023.

Photonis is again proud to be part of this exciting achievement.

With its high level of knowledge, Photonis’ engineers will continue to contribute to overcoming the limits of science and work towards getting tomorrow’s clean energy running.

This first step not only marks a significant achievement for both Photonis/Exosens and TerraPower, but also signifies a crucial milestone in the global pursuit of cleaner and more sustainable energy solutions.

About Exosens

Exosens is a market-leading provider of technologies used in the detection and amplification of photons, ions, electrons, and neutrons. We innovate and engineer the highest quality technology solutions for integration into a wide variety of applications, such as mass spectrometry, night vision optics, digital cameras, nuclear instrumentation, life-science and physics research, space exploration, and many others. With over 80 years of experience in partnering with our customers to provide the world’s leading detection systems, Exosens has the experience to meet the specific challenges of the many markets we serve.

Related image

Contact Information
Sales Manager
Nuclear Instrumentation Sales Manager – North America
nuclearsales@exosens.com

Finance Minister and Minister of State for Electronics & IT Unveil the next chapter of India’s Technological transformation at DATE 2023

NEW DELHI, Nov 27, 2023 – (ACN Newswire) – India’s newest & already being celebrated as the most impactful Digital Acceleration and Transformation Expo (DATE) was inaugurated by the Honourable Finance Minister Smt. Nirmala Sitharaman, and joined by Honourable MP Shri Tejasvi Surya, Shri Yaduveer Krishnadatta Chamaraja Wadiyar, Maharaja of Mysore & Chairman of Cyberverse Foundation, a strategic partner of DATE, Maharaj Saheb Mandhatasinh Jadeja of Rajkot and Trescon’s Founder & Chairman Mr. Mohammed Saleem, Vice Chairman Mr. Mithun Shetty and Group CEO Mr. Naveen Bharadwaj.

Smt. Sitharaman spoke on various topics like financial inclusion, fintech opportunities, data aggregation, cyber safety, and noted “DATE stands as the need of the hour, offering Indian youth a vital platform for information, networking, and talent showcasing. The organizers’ understanding and collaboration with diverse partners have brought this expo to Delhi, ensuring two impactful days for those keen in this field. This event, a testament to India’s lead in nurturing young talent, beckons passionate individuals to benefit from its extensive networking opportunities.”.

Honourable Minister of State for Electronics and Information Technology, Shri Rajeev Chandrasekhar, spoke about the expectations for India’s tech ecosystem and how in a short span of time the country has seen itself becoming the fastest growing digital economy. Speaking about AI and noting it as one of the three biggest inventions in recent time, Shri Chandrasekhar said ”While we envision AI to become a kinetic enabler and accelerant for our digital economy and innovation economy, safety and trust in these platforms remain paramount.”

Celebrating the success of DATE, Mr. Saleem said, “DATE Is Trescon’s commitment to host a global standard event that truly fosters a secure and inclusive digital environment in India. With 8,000+ registrations from across India including Government Officials, Founders, CEOs, CIOs and Investors, Tech leaders & Startup Founders, and 100+ exhibitors & partners showcasing innovation across various domains like artificial intelligence, blockchain, cybersecurity, drones, data analytics, digital marketing, electric mobility, egaming, fintech, generative ai, hyper computing, IoT, metaverse, robotics, web3 and quantum computing, DATE’s outcome has been unprecedented and a talk of the nation”.

With 3 dynamic conference stages featuring 100+ speakers in thought-provoking panel discussions, tech talks, keynote presentations and engaging fireside chats, DATE’s inaugural edition’s success echoes a fervent demand for transformative technology.

A noteworthy session was the fireside chat on ‘Digital India: Accelerating Economic Growth and Sustainability’ between Shri Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister (EAC-PM), Government of India, and Ranganath M.D., Chairman, Catamaran Ventures. During their captivating conversations, they provided great insights on what can be expected with India Stack 2.0, the different approaches of AI regulations, alternative energy and more.

A deviation from the controlled and scripted norm, the fireside chat on ‘Confessions of a Startup Founder’ between Swati Bhargava, Co-Founder, CashKaro and EarnKaro, and Reshma Budhia, Director & Co-Founder, Toss The Coin presented candid insights into the challenges and triumphs of their entrepreneurial journey providing valuable lessons, inspiring innovation and resilience in the startup sphere.

On social impact & innovation, Mr. Bharadwaj said “At DATE, in addition to sparking transformative business discussions, social impact, youth empowerment & real investments were prioritized as we launched the Women in Media Council (a consortium for global female media professionals to collaborate); Smart 1,000 (a partnership initiative between Trescon Foundation & Yuva Unstoppable to transform 1,000 schools in rural areas of India); Cyber Safe Girl (a security awareness book in its 6th version by Dr. Ananth Prabhu); Future of Tech (a book authored by a 14 year child prodigy Karthik Jakhar) and more. Regional pitch competitions for prestigious Fintech World Cup (finals during Dubai Fintech Summit 2024) & Startup World Cup (finals in San Francisco) were held. Multiple startups received investment commitments and 2 were publicly disclosed.”

Highlighting the impact of DATE, Shri Wadiyar said, “We extend our gratitude & sincere appreciation to Honourable Finance Minister, Smt. Nirmala Sitharaman, and Honourable Minister of State, Electronics and Information Technology, Shri Rajeev Chandrasekhar for gracing DATE with their presence and invaluable insights. We thank Trescon for launching such an impactful, inspiring and fun event in India. The success of the launch edition makes the industry even more eager for the next edition of DATE India which is expected to be held in September 2024”.

With robots on stage, attendees experience capture boards, cosplay competition and a live gaming competition featuring India’s most prominent international gamer Mavi and many such onsite activations, DATE gave attendees a fresh breath of air and truly stood out compared to regular run of the mill tech events.

Anticipation surges for what is in store for the next edition of DATE.

For more details, visit: www.datewithtech.com

DATE India is supported by:

Powered by BSV Blockchain Lead Sponsor: Demandify Media, Karix Platinum Sponsor: New Relic, Kaleyra, Builder.ai Gold Sponsor: KonfHub, BattleXo, B Live EV Store, Torsecure Cyber LLP Silver Sponsor: Truecaller Business, Haptik, Talkk.ai, Northern Arc, XLNC Academy Premium Bronze Sponsor: Toss The Coin Bronze Sponsor: GeoPITS, NeoSOFT, Infiflex, TeleCMI, Spine Korea, SimpleCRM, Zoho, Signzy, OneLogin,Kotak Mahindra Bank, Tally, Qodequay Technologies Mobility Partner: EVeium Smart Mobility Strategic Partner: Cyberverse Foundation Supporting Partners: STPI and FICCI Innovation Partner: DIFC Innovation Hub Entrepreneurship Partner: TiE Delhi-NCR Woman Empowerment Partner: WICCI MSME Development Partner: MSME Promotion Council Strategic Fintech Partner: MENA Fintech Association Energy Neutrality Partner: Tokere Association Partners: Federation of All India IT Association, Data Security Council of India, Federation of IT Associations of Gujarati, Goa Technology Association, Gujarat Electronics and Software Industries Association, ACIC Rise Association, Fintech Association of Japan, International Federation of Investors’ Association, Hashtagweb3.org, The London Institute of Banking and Finance, India Small Businesses & Franchise Association Ecosystem Partner: IVCA Association Official Media Partner: Press Trust of India Official Print Media Partner: Business Standard Online News Partner: Business Wire India Official Digital News Partner: TV9 Network

About Trescon

Trescon is a pioneering force in the global business events and services sector, driving the adoption of emerging technologies while promoting sustainability and inclusive leadership.

Our summits, expos, and conferences create real economic impact by connecting and empowering the key ecosystem of government organisations, regulators, enterprises, corporates and more. With the help of our 250+ employees across offices in 6 countries, several of our clients have quadrupled their leads, shortened sales cycles by half or less, entered markets three times faster, closed deals within unimaginable timelines and grown their businesses ultimately. For more information about Trescon visit: http://www.tresconglobal.com. 

For further details about the announcement, please contact:
Nupur Aswani
Head – Media, PR and Corporate Communications, Trescon
+91 95559 15156 | media@tresconglobal.com

The 10th PropertyGuru Asia Awards in partnership with iProperty.com.my mark a decade of celebrating real estate achievements

KUALA LUMPUR, Nov 27, 2023 – (ACN Newswire) – PropertyGuru Group (NYSE: PGRU), Southeast Asia’s leading property technology company, announced the winners of the 10th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my at The Majestic Hotel Kuala Lumpur, the official venue.

Excellent companies and property developments, as well as exemplary individuals in the real estate industry, comprised this year’s list of winners. The Awards were presented across 48 categories, decided by an elite roster of local and foreign experts as well as the people of Malaysia.

With nine golden statuettes, WCT Land Sdn Bhd garnered the most wins of the year. The company was named Best Developer (Malaysia), Best Developer (Central Malaysia), and Best Mixed Use Developer and garnered multiple awards for its projects Pavilion Mont Kiara and Greenville Residences.

UEM Sunrise Berhad also gained nine wins, including various honours for its projects The Connaught One, Allevia Mont’Kiara, The MINH Mont’Kiara, Residensi ZIG, and Verna Serene Heights.

Another big winner, Sime Darby Property, won five golden statuettes, including the prestigious Best Landed Development (Malaysia) award for Ilham Residence, in addition to honours for Bandar Bukit Raja and Serasi Residences, Putra Heights Sentral. Eupe Corporation Berhad won the prestigious Best High-Rise Development (Malaysia) title for Est8 @ Seputeh in one of three awards for the company.

Other winners in the Developer categories were Mah Sing Group Berhad, named Best Lifestyle Developer with a win for M Astra; Perbadanan Kemajuan Negeri Selangor, named Best Affordable Homes Developer; Tanah Sutera Development Sdn Bhd, named Best Developer (Southern Malaysia) with a win for Sutera Square; and Tanjung Ratna Sdn Bhd, named Best Boutique Developer.

An independent panel of expert judges provided their unbiased insights during the Live Judging Days that began in July 2023. They consisted of Datuk Ar. Ezumi Harzani Ismail, chairperson of the panel of judges and president of the Malaysian Institute of Architects: 2020-2022; Chris Tia, vice-chairperson of the panel of judges and principal and managing partner of Tia & Noordin; Blaine Robert, CEO and creative director, Blaine Robert Design; Christophe Vicic, chief growth officer, JLL Property Services (M) Sdn Bhd; Dr. Daniele Gambero, president, Malaysia Proptech Association (MPA); Sr Engad Ravana, principal, ER Consult; PMgr Sr Haji Ishak bin Ismail, president, Malaysia Institute of Professional Property and Facility Managers (MIPFM); Ho Chin Soon, chairman, Ho Chin Soon Research; Dato’ Sr. Lau Wai Seang, president of the Royal Institution of Surveyors Malaysia (RISM): 2017-2018; Sr Low Han Hoe, independent property consultant, coach, mentor, trainer, FRICS FRISM FPEPS FMIPFM MMIEA MPINZ; Ar. Ts. PRBr.Mustapha Kamal Zulkarnain, founder and principal, Arkitek Mustapha Kamal; Assoc. Prof. LAr. Dr Nor Atiah Ismail, president, Institute of Landscape Architects Malaysia (ILAM); Datin TPr Hjh Noraida Saludin, president, Malaysian Institute of Planners (MIP); Ir. Ong Ching Loon, immediate past president, The Institution of Engineers Malaysia (IEM): 2020-2022; Ar (Dr) Serina Hijjas, vice president, MalaysiaGBC 2023-2025; Sr Subramaniam A/L Arumugam, president, Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS); Tan Hui Yin, partner, Tan Chap & Associates; and Ir. Dr. Zulhkiple A Bakar, managing director, Perunding ZAB Sdn Bhd.

John Ler and Kelvin Chew, international contact partner and managing partner of HLB Ler Lum Chew – HLB Malaysia, respectively, represented the official supervisor and made sure the selection process was fair, credible, and transparent.

Property seekers in Malaysia were also given the opportunity to recognise the 10 finest developers in the country. This year, the People’s Choice Awards went to Chin Hin Group Property; Eastern & Oriental Berhad; Glomac Berhad; LBS Bina Group Berhad; Mah Sing Group Berhad; Mitraland Group; Perbadanan Kemajuan Negeri Selangor; Seri Pajam Development; Sime Darby Property; and UEM Sunrise Berhad.

The Portal’s Choice Awards, decided by the Awards Organising Committee, went to OCR Group (Visionary Developer Award); HCK Capital Group Berhad (Urban Revival Award); and Gunung Impian Development Sdn Bhd (Consumer Game Changer Award). The Awards Organising Committee also presented the inaugural Rising Star Award to Ms Lindy Tan of BCB Berhad for her fresh, innovative approach to working in the real estate scene.

The editorial team of Property Report by PropertyGuru, the official magazine, presented the Malaysia Real Estate Personality of the Year award to Tan Sri Dato’ Seri Vincent Tan, founder and advisor of Berjaya Corporation Berhad. He is honoured for several remarkable achievements, including the diversification of the conglomerate and its expansion into markets across Asia.

Malaysia’s leading property marketplaces, PropertyGuru.com.my and iProperty.com.my, jointly organised the black-tie gala dinner and presentation ceremony.

Hari V. Krishnan, CEO and managing director of PropertyGuru Group, said: “With our Awards, we continue to celebrate property development and design that is setting the standard for excellence in Malaysia. Our panel of expert judges recognise these projects have the chance to create real impact for the nation’s consumers. We believe that our winning developers and their projects will make a lasting, positive influence on the industry.”

Jules Kay, GM of PropertyGuru Asia Property Awards and Events, said: “Congratulations to the 2023 Malaysia award winners. We are proud to set a gold standard in design and development through the collaboration of two market leaders. With the backing of Malaysia’s premier property marketplaces – PropertyGuru Malaysia and iProperty – the Malaysia awards showcase the very best real estate to property seekers, domestically and internationally.”

Winners from the Awards in Malaysia may vie for the Best in Asia accolades at the 18th PropertyGuru Asia Property Awards Grand Final 2023 in Bangkok, Thailand on 8 December.

The 10th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my programme is supported by official portal partners PropertyGuru.com.my and iProperty.com.my; official venue The Majestic Hotel Kuala Lumpur; official magazine Property Report by PropertyGuru; media partners Asian Property Review, BERNAMA, Kopi & Property, Niaga Times, Penang Property Talk, Real Estate Malaysia (REM), The Grid Asia, The Malaysia Voice, and Top 10 of Malaysia; supporting association REHDA Institute; official balloting partner HLB Ler Lum Chew – HLB Malaysia; and official supervisor HLB.

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.

COMPLETE LIST OF WINNERS

10th PropertyGuru Asia Awards Malaysia in partnership with iProperty.com.my

DEVELOPER AWARDS

Best Developer (Malaysia)
WINNER: WCT Land Sdn Bhd

Best Developer (Southern Malaysia)
WINNER: Tanah Sutera Development Sdn Bhd

Best Developer (Central Malaysia)
WINNER: WCT Land Sdn Bhd

Best Boutique Developer
WINNER: Tanjung Ratna Sdn Bhd

Best Mixed Use Developer
WINNER: WCT Land Sdn Bhd

Best Lifestyle Developer
WINNER: Mah Sing Group Berhad

Best Affordable Homes Developer
WINNER: Perbadanan Kemajuan Negeri Selangor

DEVELOPMENT AWARDS

Best Luxury High-Rise Development (Central)
WINNER: Pavilion Mont Kiara by WCT Land Sdn Bhd

Best High End High-Rise Development (Central)
WINNER: Est8 @ Seputeh by Eupe Corporation Berhad

Best Mid End High-Rise Development (Central)
WINNER: Ayanna Resort Residences @ Bukit Jalil by Chin Hin Group Property

Best Mass Market High-Rise Development (Central)
WINNER: M Astra by Mah Sing Group Berhad

Best High End High-Rise Development (Southern)
WINNER: Greenville Residences by WCT Land Sdn Bhd

Best Waterfront High-Rise Development
WINNER: Residensi ZIG by Mega Legacy (M) Sdn Bhd

Best Value High-Rise Development
WINNER: Serasi Residences, Putra Heights Sentral by Sime Darby Property

Best Lifestyle High-Rise Development
WINNER: Ayanna Resort Residences @ Bukit Jalil by Chin Hin Group Property

Best Investment High-Rise Development
WINNER: IBN Highlands City by IBN Corp

Best Green High-Rise Development
WINNER: Allevia Mont’Kiara by UEM Sunrise Berhad

Best Eco Friendly High-Rise Development
WINNER: Stellar Damansara by OCR Land Development Sdn Bhd

Best Connectivity High-Rise Development
WINNER: The Connaught One by UEM Sunrise Berhad

Best Mass Market Landed Development (Central)
WINNER: Verna Serene Heights by UEM Sunrise Berhad

Best Value Landed Development
WINNER: Sena Mas @ Tasek Gelugor by PTL Properties Sdn. Bhd.

Best Smart Home Landed Development
WINNER: Nada Embun by Seri Pajam Development

Best Lifestyle Landed Development
WINNER: Ilham Residence by Sime Darby Property

Best Completed Landed Development
WINNER: Sena Mas @ Tasek Gelugor by PTL Properties Sdn. Bhd.

Best Integrated WFH Development
WINNER: Residensi ZIG by Mega Legacy (M) Sdn Bhd

Best Co Living Development
WINNER: The Meg by Eastern & Oriental Berhad

Best Industrial Development
WINNER: Bandar Bukit Raja by Sime Darby Property

Best Mixed Use Development
WINNER: The Connaught One by UEM Sunrise Berhad

Best Retail Development
WINNER: Sutera Square by Tanah Sutera Development Sdn Bhd

DESIGN AWARDS

Best Township Masterplan Design
WINNER: Andaman by Eastern & Oriental Berhad

Best Mixed Use Architectural Design
WINNER: The Connaught One by UEM Sunrise Berhad

Best Luxury High-Rise Architectural Design
WINNER: Pavilion Mont Kiara by WCT Land Sdn Bhd

Best High End High-Rise Architectural Design
WINNER: The MINH Mont’Kiara by UEM Sunrise Berhad

Best Landed Architectural Design
WINNER: D’ Art Hills Residence by PH World

Best High-Rise Interior Design
WINNER: Est8 @ Seputeh by Eupe Corporation Berhad

Best High-Rise Landscape Design
WINNER: Pavilion Mont Kiara by WCT Land Sdn Bhd

Best Clubhouse Design
WINNER: D’ Art Hills Residence by PH World

BEST OF MALAYSIA AWARDS

Best Landed Development (Malaysia)
WINNER: Ilham Residence by Sime Darby Property

Best High-Rise Development (Malaysia)
WINNER: Est8 @ Seputeh by Eupe Corporation Berhad

SPECIAL AWARDS

Special Recognition in ESG
WINNER: LBS Bina Group Berhad
WINNER: Mah Sing Group Berhad
WINNER: Tanah Sutera Development Sdn Bhd

Special Recognition for CSR
WINNER: LBS Bina Group Berhad
WINNER: Tanah Sutera Development Sdn Bhd
WINNER: WCT Land Sdn Bhd

Special Recognition in Sustainable Design and Construction
WINNER: LBS Bina Group Berhad
WINNER: Perbadanan Kemajuan Negeri Selangor
WINNER: WCT Land Sdn Bhd

PORTAL’S CHOICE AWARDS

Visionary Developer Award
WINNER: OCR Group Berhad

Urban Revival Award
WINNER: HCK Capital Group Berhad

Consumer Game Changer Award
WINNER: Gunung Impian Development Sdn Bhd

Rising Star Award
WINNER: BCB Berhad – Ms Lindy Tan

PUBLISHER’S CHOICE AWARD

Malaysia Real Estate Personality of the Year
WINNER: Tan Sri Dato’ Seri Vincent Tan, Founder and Advisor, Berjaya Corporation Berhad

PEOPLE’S CHOICE AWARDS

WINNER: Chin Hin Group Property
WINNER: Eastern & Oriental Berhad
WINNER: Glomac Berhad
WINNER: LBS Bina Group Berhad
WINNER: Mah Sing Group Berhad
WINNER: Mitraland Group
WINNER: Perbadanan Kemajuan Negeri Selangor
WINNER: Seri Pajam Development
WINNER: Sime Darby Property
WINNER: UEM Sunrise Berhad

ABOUT PROPERTYGURU ASIA PROPERTY AWARDS:

PropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair, and transparent.

In 2023, the Awards series is open to more than a dozen key property markets around the region. The exciting gala events welcome senior industry leaders and top media, as well as reach property agents and consumers via live streaming. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during ‘PropertyGuru Week’ in December 2023.

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP:

PropertyGuru is Southeast Asia’s leading(1) PropTech company, and the preferred destination for over 37 million property seekers(2) to connect with almost 60,000 agents monthly(3) to find their dream home. PropertyGuru empowers property seekers with more than 2.9 million real estate listings(4), in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

PropertyGuru.com.sg was launched in Singapore in 2007 and since then PropertyGuru Group has made the property journey a transparent one for property seekers in Southeast Asia. In the last 15 years, PropertyGuru has grown into a high-growth PropTech company with a robust portfolio including leading property marketplaces and award-winning mobile apps across its core markets; mortgage marketplace, PropertyGuru Finance; home services platform, Sendhelper; a host of proprietary enterprise solutions under PropertyGuru For Business including DataSense, ValueNet, Awards, events and publications across Asia.

For more information, please visit:PropertyGuruGroup.com;PropertyGuru Group on LinkedIn.

(1) Based on SimilarWeb data between October 2022 and March 2023.
(2) Based on Google Analytics data between October 2022 and March 2023.
(3) Based on data between January 2023 and March 2023.
(4) Based on data between October 2022 and March 2023.

PROPERTYGURU CONTACTS:

General Enquiries:
Richard Allan Aquino, Head of Brand & Marketing Services
M: +66 92 954 4154
E: allan@propertyguru.com

Media & Partnerships:
Nate Dacua, Media Relations & Marketing Services Manager
M: +66 92 701 2510
E: nate@propertyguru.com

Sponsorships:
Kanittha Srithongsuk, Regional Manager, Awards SponsorshipM: +66 93 293 9794E: kanittha@propertyguru.com

Sales & Nominations:
Samuel Poon, Asst. Manager (Malaysia & China) – Awards
M: +60 16 411 4361
E: samuel@propertyguru.com

Kerry Logistics Network Teams Up with EC Healthcare To Provide a Full Suite of Integrated Medical Logistics Management Services

HONG KONG, Nov 27, 2023 – (ACN Newswire) – Kerry Logistics Network Limited (‘Kerry Logistics Network’, ‘KLN’; Stock Code 0636.HK) has entered into a strategic cooperation agreement with EC Healthcare (Stock Code 2138.HK), Hong Kong’s largest publicly listed non-hospital medical service provider, to provide a comprehensive suite of integrated medical logistics management services. The companies held an agreement signing ceremony in Hong Kong on 24 Nov 2023.

Under the strategic cooperation, KLN will set up a centralised warehouse to consolidate EC Healthcare’s inventory management and provide customised logistics solutions including IT system integration, point-to-point delivery and a wide variety of value-added services on a long-term basis to support EC Healthcare’s business growth. In addition, KLN will manage the global sourcing, including the procurement processes of pharmaceutical products and the supply of medical devices for EC Healthcare.

Samuel Lau, Managing Director – Integrated Logistics North Asia of Kerry Logistics Network, said, “We are delighted to begin our relationship with EC Healthcare and to meet EC Healthcare’s logistics and procurement needs as a centralised service provider and manager. Not only will this strategic cooperation streamline EC Healthcare’s supply chain and provide it with a value-added end-to-end logistics solution that optimises its efficiency and medicine distribution to patients, but it will also showcase KLN’s capabilities and expertise in pharmaceutical logistics.”

Leslie Lu, Executive Director and Chief Executive Officer of EC Healthcare, said, “As the leading non-hospital healthcare service provider in Hong Kong, we strive to provide accessible, affordable, and sustainable preventive and precision healthcare services to more people. Drawing upon KLN’s expertise in supply chain management, we will gradually centralise our procurement and inventory management processes across our service network. This initiative aims to ensure a high-quality customer experience, maintain safe and well-regulated operations, while simultaneously achieving cost savings and improving operational efficiency.”

A top provider of Integrated Logistics (IL) services, KLN’s IL operation serves industry-leading corporations from myriad verticals ranging from electronics, food and beverage, fashion and lifestyle to pharmaceutical and healthcare, as well as provides best-in-class cold chain solutions, professional warehousing and distribution, domestic road freight, and other services.

Ellis Cheng, Executive Director and Chief Financial Officer of Kerry Logistics Network (middle left), Samuel Lau, Managing Director – Integrated Logistics North Asia of Kerry Logistics Network (left), Leslie Lu, Executive Director and Chief Executive Officer of EC Healthcare (middle right) and Andrew Wong, Chief Operating Officer of EC Healthcare (right) at the agreement signing ceremony on 24 November 2023.

About Kerry Logistics Network Limited (Stock Code 0636.HK)

Kerry Logistics Network is an Asia-based, global 3PL with a highly diversified business portfolio and the strongest coverage in Asia. It offers a broad range of supply chain solutions from integrated logistics, international freight forwarding (air, ocean, road, rail and multimodal), e-commerce and express to industrial project logistics and infrastructure investment.

With a global presence across 59 countries and territories, Kerry Logistics Network has established a solid foothold in half of the world’s emerging markets. Its diverse infrastructure, extensive coverage in international gateways and local expertise span across the Mainland of China, India, Southeast Asia, the CIS, Middle East, LATAM and other locations.

Kerry Logistics Network generated a revenue of over HK$86.6 billion in 2022. It is listed on the Hong Kong Stock Exchange as well as a constituent of the Hang Seng Corporate Sustainability Benchmark Index.

About EC Healthcare (Stock Code 2138.HK)

EC Healthcare is Hong Kong’s largest non-hospital medical service provider*, which is listed on the Main Board of Stock Exchange of Hong Kong. EC Healthcare provides a one-stop medical and healthcare services in Greater China, including health checkups, vaccinations, lab testing, imaging diagnostics, primary care, specialist consultations, dental care, and pain management. It also provides aesthetic medical, beauty, wellness and veterinary services.

*According to independent research conducted by Frost and Sullivan in terms of revenue in 2022

For media enquiries please contact:

Prudence Lai / Karen Chu / Kelvin Man / Bob Tong

Cornerstones Communications Ltd

T 852 2903 9291 / 2903 9213 / 2903 9288 / 2903 9285

M 852 9465 3856 / 6171 3530 / 6849 9983 / 9296 0255

E kerrylogistics@cscspr.com

Hospitality and Travel Job Roles Soars With 169% Surge In Hiring: foundit Insights Tracker

KUALA LUMPUR, Nov 27, 2023 – (ACN Newswire) – foundit (formerly Monster APAC & ME), one of the leading talent management platforms, today published the foundit Insights Tracker (fit) for October 2023, formerly published as Monster Employment Index (MEI). According to the Malaysian fit report, job roles in the Hospitality and Travel sector have impressively grown by 169% over the past year.

The tracker also reveals a promising year-on-year (YoY) growth of 16% e-recruitment, as the index climbed from 69 in Oct 2022 to 80 in Oct 2023. Additionally, a month-on-month (MoM) analysis also indicated an increase reflecting a positive job market. The rising index values reveal a thriving labour market that will benefitemployers and job seekers alike.

Commenting on Malaysia’s job trends for May 2023, Sekhar Garisa, CEO, foundit, said, “Our findings indicate a strong momentum and a promising future for Malaysia’s labour market. However, in this competitive landscape, companies are emphasising on individuals with sspecialised skills. Hence, job seekers must always be aware of the changing demands of the industry and equip themselves with the required skills. Upskilling and continuous learning will be the key to unlocking new opportunities and thriving in this dynamic landscape.”

Engineering, Construction, and Real Estate follow an upward trend in hiring activity, while the Oil and Gas, BFSI and IT/ Telecom & BPO Industries witness a drop in recruitment.

The Hospitality and Retail industries continue to lead the way among the industries, showing steady growth. The Hospitality industry saw a remarkable YoY growth of 111%, driven by Malaysia’s booming tourism industry, which draws an increasing number of domestic and foreign tourists. Similarly, the Retail industry at 108% marked noteworthy progress in e-recruitment owing to the huge retail sales. Being next in the rung, Engineering, Construction, and Real Estate industries also witnessed a YoY increase in October 2023 with a 42% rise in the hiring activity due to infrastructure developments, govt. policies, and rapid urbanisation plans of Malaysia.

The Oil and Gas industry, along with BFSI, IT, Telecom/ISP, and BPO/ITES, recorded a substantial deceleration in hiring activity, with a YoY decrease of 11%, 9% and 6%, respectively. This trend can be attributed to economic slowdowns, or uncertainties that lead to reduced investments and lower demand for services.

However, barring these industries, the overall hiring sentiment in Malaysia has been positive with Logistic, Courier/ Freight/ Transportation, Shipping/ Marine (+27%), Advertising, Market Research, Public Relations, Media and Entertainment (+17%) and Production/Manufacturing, Automotive and Ancillary (+12%) industries registered a substantial annual growth in October ’23. Overall, there has been an optimistic hiring in Oct ’23.

Hospitality, Retail & Real Estate Lead the Way in Hiring Trends

In terms of functional roles, Hospitality & Travel jobs continued to witness significant demand in Oct 2023, with a staggering YoY growth of 169% driven by international tourism. This economic recovery created an online demand for other job roles, such as Sales & Business Development (44%) and Marketing & Communications (12%) as well. A few of the other job roles that have showcased a robust YoY growth rate include Engineering/ Production, Real Estate (+10%), HR & Admin (+7%), Purchase/ Logistics/ Supply Chain (+6%) and Software, Hardware & Telecom (+5%)

The roles in Customer Service (-24%) were the sole function to exhibit a negative growth trend despite having a 19% increase over the last month. Several reasons can be attributed to this, including the advancements in technology that have led to the implementation of automated customer service systems such as chatbots and self-service portals. There have also been instances during challenging economic times where businesses need to prioritise cost-cutting measures, resulting in a decrease in hiring across various job roles, including customer service.

The foundit Insights Tracker is a comprehensive monthly analysis of online job posting activity conducted by foundit. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, the foundit Insights Tracker (FIT) presents a snapshot of employer online recruitment activity nationwide.

Period for the report

The period considered for the foundit Insights Tracker (fit) data is Oct 2022 Vs Oct 2023.

About foundit – APAC & Middle East

foundit, formerly Monster (APAC & ME), is a leading talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. Since its inception, the company has assisted over 75 million registered users to find jobs, upskill, and connect with the right opportunities across 18 countries. Over the last two decades, the company has been a catalyst in the world of recruitment solutions with advanced technology, seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep tech to sharpen hyper-spersonalised job searches, and precision hiring. foundit strongly believes that a job title doesn’t define one’s potential and leverages technology to dig deeper to curate opportunities central to the needs and aspirations of each user.

To learn more, about foundit in APAC & Gulf,

Contact:
Namrata Sharma
Namrata.sharma@adfactorspr.com
+65-81383034

OrbusNeich Acquires 84% Stake in an Indonesian Distributor for Approximately US$15 Million

HONG KONG, Nov 27, 2023 – (ACN Newswire) – OrbusNeich Medical Group Holdings Limited (“OrbusNeich” or the “Group”; stock code: 6929), a major global medical device manufacturer specializing in interventional devices for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures, is pleased to announce that it has acquired 84% of the issued share capital of PT Revass Utama Medika (“PT Revass”), through its wholly-owned subsidiary on 27 November 2023. The initial estimated consideration for this transaction is US$15.12 million, and the actual consideration, which is expected to be in the range of US$10.08 million to US$20.16 million, will be determined based on the actual profit recorded by PT Revass in FY2023. The consideration for the acquisition will be funded from the proceeds of the Group’s global offering and cash generated from operations.

PT Revass is an Indonesian company that specializes in the distribution and sale of cardiovascular intervention, neuro intervention, peripheral intervention and continuous renal replacement therapy products. Its profit after tax in FY2022 amounted to IDR14.3 billion (equivalent to approximately US$920,000). As of 30 June 2023, its unaudited net asset value was approximately IDR88.1 billion (equivalent to approximately US$5.7 million).(1) Upon completion of the acquisition, PT Revass will become an indirect non-wholly-owned subsidiary of the Group and its financial results will be consolidated into the Group’s financial statements.

Mr. David Chien, Chairman, Executive Director and Chief Executive Officer of OrbusNeich, said, “PT Revass has been engaged in the sales and distribution of medical devices in Indonesia for more than 10 years. After years of hard work, it has established a strong sales network in the country, covering more than 200 cardiac catheterization laboratories, and is well known in the medical industry. With the acquisition of PT Revass, the Group will shift from a distribution model to a direct sales model in the Indonesian market. This will not only directly increase the Group’s revenue and profitability, but also effectively accelerate our further penetration in this fast-growing economy with a huge population.”

Mr. Andriatno Martono, President Director of PT Revass stated, “We are honored to reach a sale and purchase agreement with OrbusNeich, the world’s leading manufacturer of PCI and PTA interventional devices. Both OrbusNeich and PT Revass are committed to providing patients with high-quality medical equipment and treatments. Under the leadership of OrbusNeich, which has rich marketing experience in the international market and high-quality and innovative products, we will be able to introduce more high-quality vascular interventional medical devices to the Indonesian market and benefit more patients there.”

Since introducing the first balloon product, Sapphire, to the Indonesian market in 2010, OrbusNeich is committed to increasing local market penetration by organizing education activities for doctors and continuously updating its product portfolio. In FY2022, the Indonesian market contributed to the Group US$3.1 million in revenue, representing a year-on-year increase of 29.6% and accounting for 2.2% of the total revenue. According to data from the World Bank, Indonesia’s population reached 276 million in 2022, making it the fourth most populous country in the world. In addition, according to the World Health Organization, ischemic and hypertensive heart disease is the second leading cause of death in Indonesia. With steady economic growth, Indonesia’s healthcare expenditure as a percentage of GDP has been increasing year after year. The number of cardiac catheterization laboratories for PCI procedures has also been increasing yearly and is expected to increase continuously in the future. Therefore, the Group believes that this transaction will be a sustainable growth driver for its future revenue and profit.

(1) At the rate of IDR10,000 to US$0.64

About PT Revass Utama Medika

Founded in 2010, PT Revass Utama Medika is a company engaged in the distribution and marketing of cardiology intervention medical devices. Initially, it began as an importer and distributor of stents and balloons from OrbusNeich. To encourage growth, PT Revass Utama Medika expanded its business by distributing other medical accessories as supporting devices for cardiology intervention. Moreover, the company created a large sales network spanning 30 major cities across the Indonesian archipelago. Consistent with its vision to be a trusted and leading business partner, PT Revass Utama Medika provides the highest quality cardiology intervention medical devices in Indonesia.

For more information, please visit the Company’s official website: https://www.revassutamamedika.com/

About OrbusNeich Medical Group Holdings Limited

OrbusNeich is a major global medical device manufacturer specializing in interventional devices for percutaneous coronary intervention (PCI) and percutaneous transluminal angioplasty (PTA) procedures. Headquartered in Hong Kong, China, OrbusNeich sells its products in more than 70 countries and regions worldwide. It also specializes in coronary stent products and is actively expanding into neuro vascular intervention and structural heart disease. As of June 30 2023, OrbusNeich has more than 210 granted patents and published patent applications worldwide. Its in-house R&D team has more than two decades of product development experience and has developed world-leading proprietary technologies.

For more information, please visit the Group’s official website: https://orbusneich.com/