CATALIST-listed AOXIN Q&M reports lower revenue of RMB 140m for full year ended 31 December 2022

SINGAPORE, Mar 3, 2023 – (ACN Newswire) – Catalist listed Aoxin Q&M Dental Limited, announced on 1 March 2023, a 12.8% lower revenue of RMB139.7 million for full year ended 31 December 2022 (FY2022). The Group reported a net loss after tax excluding impairment loss on investment in our associate of RMB7.3 million for FY2022, primarily due to the number of shutdowns from China's zero-Covid policy that was in place all the way up until 8 January 2023.

Dr. Shao Yongxin, Executive Director and Group Chief Executive Officer of Aoxin Q&M said, "Companies in China have had to face head-on, the challenges brought about by the COVID-19 pandemic and Aoxin is no exception. While we have recorded net loss after tax excluding impairment loss on investment in our associate of RMB7.3 million for FY2022, we are optimistic about the company's prospects for 2023 now that China has moved from its zero-Covid stance to a "living with Covid" one. Aoxin's primary healthcare sector has been resilient and we are well-positioned and prepared to ride the wave as the economy recovers in step with the entire country opening up."

In addition, "Indeed, 2022 will go down as one of the most challenging years in recent history for companies operating in China, as cities and entire provinces were closed and sealed with little to no advance warning for days and sometimes weeks. Aoxin was certainly not spared and in fact, the number of days of shutdown for the Group's hospitals and polyclinics amounted to some 844 business days in total. This includes days when some clinics could not operate because a substantial number of dentists and nurses were down with Covid themselves. Throughout this time, we have been extremely prudent in maintaining cost discipline, reducing some of our liabilities and look forward to strongly ride on the recovery in the coming year."

Revenue

The Group's revenue was lower by RMB20.5 million or 12.8% from RMB160.2 million for the financial year ended 31 December 2021 (FY2021) to RMB139.7 million for the financial year ended 31 December 2022 (FY2022). The lower revenue was largely due to the resurgence of Covid-19 in Liaoning Province, PRC in the second and fourth quarters of 2022 which affected all business segments of the Group.

Revenue from primary healthcare segment was lower by 7.3% from RMB93.9 million in FY2021 to RMB87.0 million in FY2022. This decrease was largely due to the temporary closure of our hospitals as instructed by the local authorities, and a decrease in number of patients visiting dental polyclinics due to dental services being classified as a non-essential service.

Revenue from distribution of dental equipment and supplies segment was lower by 22.0% or RMB11.1 million from RMB50.4 million in FY2021 to RMB39.3 million in FY2022. The lower revenue was largely due to lower demand for dental equipment from government hospitals due to lesser government tenders obtained in the six months ended 30 June 2022, partially offset by a slight increase in demand as a result of contracts secured during the six months ended 31 December 2022 (2H2022). The supply of dental equipment was also impacted by supply chain disruption as a result of Covid-19.

Revenue from laboratory services segment decreased by 15.5% from RMB15.9 million in FY2021 to RMB13.4 million in FY2022 due to decrease in demand from government dental hospitals largely due to the temporary closures.

Other income and gains were lower by 8.3% or RMB0.2 million from RMB2.9 million in FY2021 to RMB2.7 million in FY2022 mainly due to lower profit guarantees from vendors of acquired subsidiaries. However, the lower income and gains were partially offset by the higher government grant and rental discount.

Net Loss (Excluding one off impairment loss on investment in associate)

The Group's net loss remained at RMB7.3 million for FY2022 and FY2021. The net loss of RMB7.3 million for FY2022 included tax credit of RMB5.1 million and partially offset by increase in operation loss which was largely attributable to (i) reduction in revenue by RMB20.5 million, (ii) higher % of staff costs to revenue due to regulatory increase of social insurance contributions resulting in an increase of the contribution rate, and (iii) higher unrealised foreign exchange loss arising from the translation of Singapore Dollars denominated balances to Renminbi.

Dr. Shao Yongxin added, "Our long-term growth trajectory remains intact and we will work hard to execute the strategic plans for the Group, as well as increase the revenue of our hospitals and clinics by maximising our cost efficiency of our operations."

Dr. Ong Siew Hwa, Chief Executive Officer & Chief Scientist of Acumen and Executive Director of Aoxin Q&M added, "Acumen Diagnostics Pte Ltd ("Acumen"), will continue to progressively roll out its pipeline of new non-Covid PCR Tests. These includes the test for sepsis, identification of bacteria pathogens and their associated antimicrobial resistance in hospitalised pneumonia, as well as colorectal cancer screening and pharmacogenomics. Our colorectal cancer screening is already offered by medical practitioners to patients.

In addition, Acumen had been awarded the tender for the operation of a Joint Testing and Vaccination Centre by the Singapore Ministry of Health. The award is for a period of 15-month and expected to contribute at least S$3.6 million to Acumen's revenue during the contract period."

Looking Forward

Aoxin's FY2022 results reflects the significant impact of the Covid lockdowns in China to the Group's overall revenue. With the opening up of the entire country, the business climate and overall economy in the PRC is expected to turn positive and we thus look forward to the Group's revenue to correspondingly improve substantially.

Building on its strong fundamentals and strength, our Group's homegrown medical associate company, Acumen will ramp up on the implementation of its portfolio of non-Covid PCR tests in 2023.

The Group will continue to focus on disciplined management of operating expenditures, costs and capital expenditures. The Group will continue to closely monitor its expenses and maximise cost efficiency for all its operations. In addition, the Group is considering a potential fund raising exercise within the next 12 months.

Barring any unforeseen circumstances in the year ahead, we expect operations to gradually improve in 2023 as China opens up and the economy recovers. We do not foresee at this point in time, any known factors or events that may adversely affect the Group in the next 12 months.

This media release is to be read in conjunction with the Group's announcement posted on SGXNET on 1 March 2023.
See https://links.sgx.com/1.0.0/corporate-announcements/SFUGJHC6YKNDTSVE/ce5b8462fc6d4eecd12bf30dac451fa755d625f08f9518e56256861b61b113f3

This announcement has been reviewed by the Company's sponsor, PrimePartners Corporate Finance Pte. Ltd. (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 Ms. Lim Hui Ling, 16 Collyer Quay, #10-00 Collyer Quay Centre, Singapore 049318, sponsorship@ppcf.com.sg

About Aoxin Q&M Dental Group Limited (Stock Code: 1D4.SI) www.aoxinqm.com.sg

Aoxin Q&M Dental Group Limited ("Aoxin Q&M" or together with its subsidiaries, the "Group") is a leading provider of private dental services in the Liaoning Province, Northern People's Republic of China ("PRC"). The Group operates 16 dental centres, comprising 10 dental polyclinics and 6 dental hospitals, located across 8 cities in Liaoning Province, namely Shenyang, Huludao, Panjin, Gaizhou, Zhuanghe, Jinzhou, Dalian and Anshan.

A majority of the dental centres are accredited as Designated Medical Institutions of Medical Insurance. Additionally, the Group is engaged in the provision of dental laboratory services, as well as the distribution and sale of dental equipment and supplies in the Liaoning, Heilongjiang and Jilin Provinces in Northern PRC.

Aoxin Q&M was listed on the Catalist board of the Singapore Exchange Securities Trading Limited on 26 April 2017.

Media and Analysts please contact the below for more information:
Waterbrooks Consultants Pte. Ltd.
+65 6958 8008, query@waterbrooks.com.sg
Wayne Koo (M): +65 9338 8166, wayne.koo@waterbrooks.com.sg
Derek Yeo (M): +65 9791 4707, derek@waterbrooks.com.sg

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SCIB Awarded RM20.65 million Project to Rebuild School

KUCHING, MALAYSIA, Mar 2, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Group's wholly-owned subsidiary, SCIB Industrialised Building System Sdn. Bhd., has secured an engineering, procurement, construction, and commissioning (EPCC) contract from Jabatan Kerja Raya Sarawak (JKR) valued at RM20.65 million for the rebuilding of Sekolah Daif in Tebedu, Serian.

En. Rosland bin Othman, Group Managing Director and Chief Executive Officer of SCIB

The contract has a duration of 24 months and comes under the third phase of the Sarawak government's RM1 billion allocation for dilapidated schools.

Rosland bin Othman, Group MD and CEO of SCIB (Link) Group Managing Director of SCIB, Encik Rosland bin Othman said, "This project from JKR is part of the nationwide programme to rebuild or renovate dilapidated schools, especially in rural areas where children already face challenges from lack of infrastructure. The Group's construction arm has lots of experience in operating EPCC projects while our background as a specialist in small-to-mid-sized rural infrastructure works covering roads to schools and hospitals ensures that we are well-versed in projects of this nature."

"The Group will continue to seek projects where we can leverage our expertise as the leading precast concrete and IBS manufacturer in East Malaysia. There are opportunities for us under the recently re-tabled Budget 2023, in which Sarawak was allocated RM5.6 billion and Sabah allocated RM6.5 billion. We also note with interest the RM920 million set aside for dilapidated schools in both states."

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Axiata Digital Labs (ADL) to collaborate with AWS to drive Telco Industry TechCo Evolution

COLOMBO, LK, Mar 2, 2023 – (ACN Newswire) – Axiata Digital Labs (ADL) has announced a collaboration with Amazon Web Services (AWS) to provide its cutting-edge Digital Telco services to AWS customers. The collaboration will benefit the telco industry by providing a seamless and enhanced experience with ADL's innovative Axonect Product Suite running on AWS.

Back row (L-R): Vikram Rao, Head of Enterprise, ASEAN, AWS; Jayanth Nagarajn, Head, Telecommunications Industry, Asia Pacific & Japan, AWS; Haris Izmee, Managing Director, ASEAN Growth Markets, AWS – Front row (L-R): Namal Jayathilake, Chief Technology Officer, Axiata Digital Labs; Thushera Kawdawatta, Chief Executive Officer, Axiata Digital Labs

ADL will provide customers with its suite of systems and tools, such as its Digital Business Support System (BSS), 5G and cloud optimized business-to-business (B2B) and business-to-consumer (B2C) platforms, and multi-domain orchestrators on AWS. By collaborating with AWS, ADL's customers will have access to AWS's global infrastructure and breadth and depth of cloud capabilities.

Communication Service Providers (CSPs) will also be better supported as they embark on the transformational journey along the Telco to TechCo continuum, moving beyond traditional connectivity to platform-based products and services as part of an ecosystem, thereby reaping benefits such as improved performance, competitive advantage in big data, and new revenue streams. As a result, telcos can reduce costs and resources, and provide customers with an enhanced digital experience and improved time to market for their end customers.

This collaboration marks an important milestone for ADL as it continues to innovate in the Digital Telco space and pioneer new technologies that will pave the way for telcos to become more agile, innovative, efficient, and profitable. As member of the AWS Partner Network, as well as the AWS Select Tier and AWS Solution Provider programs, ADL will continue to invest in new technologies to help telcos drive their transformation objectives.

As part of this collaboration, ADL's product suite passed the AWS Foundational Technical Review This certification, involving rigorous testing and evaluation, demonstrates that Axiata Digital Labs' innovative middleware platforms and products can seamlessly integrate with and be deployed on AWS, and conforms with AWS's cloud-native best practices and frameworks. Customers can now confidently use Axonect products to build and deploy their applications using AWS services, including Amazon Elastic Compute Cloud (Amazon EC2), which provides secure, resizable compute in the cloud; Amazon Elastic Kubernetes Service (Amazon EKS), a managed service and certified Kubernetes conformant to run Kubernetes on AWS and on- premises; Amazon Relational Database Service (Amazon RDS), a distributed relational database service; and native security services, making them fully optimized for the cloud environment.

"We are thrilled to collaborate with AWS and help our customers bring a digital telco experience like never before to consumers," said Thushera Kawdawatta, CEO of Axiata Digital Labs. "This further solidifies our commitment to providing our customers with the best and most advanced technology solutions available on the market today. Our collaboration with AWS will enable us to leverage their expertise and technology to provide customers with the services they need to meet their changing needs and expectations."

Axiata Digital Labs launched the Axonect Product Suite as a robust, full-stack product suite that supports rapid service delivery, improves agility, accelerates partnerships, and transforms the enterprise landscape. With the added compatibility of AWS, customers will experience improved global reach, performance, scalability, and reliability.

About Axiata Digital Labs
Axiata Digital Labs (ADL) is an innovative software services and solutions provider, helping businesses globally advance in the digital era. Our convergent digital design experiences, innovative platforms and reusable assets connect numerous technologies to deliver tangible business value and experience. The technology hub of Axiata Group Bhd Malaysia, with 1300 professionals across Malaysia, Indonesia and Sri Lanka, ADL helps customers in telecommunications, digital and financial services. For more information visit https://axiatadigitallabs.com.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Habitat for Humanity welcomes first regional volunteers to build homes in Asia-Pacific since the pandemic started

Phnom Penh, Cambodia, Mar 2, 2023 – (ACN Newswire) – Habitat for Humanity welcomed 136 international volunteers to several locations in the Asia-Pacific region, where they worked alongside community members and local families building their own decent, affordable houses. They are the first volunteers from the AP region that the housing nonprofit has hosted since it suspended its Global Village volunteer program in early 2020 due to the COVID-19 pandemic.

"We are thrilled to welcome seven volunteer teams from Japan and Korea to various locations in Cambodia, Indonesia and Vietnam where they will help build or repair houses or work on communal facilities alongside future Habitat for Humanity homeowners. We are grateful for the volunteers' faithfulness and energy as they support Habitat's mission of building strength and stability through shelter," said Luis Noda, Vice-President for Asia-Pacific, Habitat for Humanity International.

From March to June, Habitat will host regional volunteers from Australia, Japan, New Zealand, Singapore and South Korea to build on one of its project sites in Cambodia, Fiji, Indonesia, and Vietnam. Habitat's country programs in those locations underwent an accreditation process to ensure a safe, meaningful experience for volunteers, and local families and communities.

Than, 65, was among the people who worked with Habitat volunteers in Phnom Penh. A widow, she lived with three of her seven children in a small house. During the day, the family suffered from extreme heat in the house, which was built with wooden planks and a roof made of old tin and plastic sheeting. During the rainy season, rainwater dripped into the house. "I was most worried about being electrocuted when everything in the house was wet," said Than, whose son died of electrocution many years ago.

With help from a team of Japanese volunteers, Than is confident that her house has become much safer for her family. "I feel the new house will be great for my family to live in. It is built high above the ground, so I no longer have to worry about flooding," she said.

Akira, a Japanese volunteer from Sapporo, Japan, first volunteered with Habitat in Siem Reap, Cambodia in 2019. Now a senior university student, he returned to Cambodia eager to help. He said, "I realized that volunteering can be helpful to people. I may not be a big, famous person to save the world, but I can serve people little by little. This is my passion and my motivation."

About Habitat for Humanity

Driven by the vision that everyone needs a decent place to live, Habitat for Humanity found its earliest inspirations as a grassroots movement on an interracial community farm in U.S.A. Since its founding in 1976, the housing organization has grown to become a leading global nonprofit working in more than 70 countries. In the Asia-Pacific region since 1983, Habitat for Humanity has supported millions of people to build or improve a place they can call home. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. To learn more, donate or volunteer, visit habitat.org/asiapacific.

For further information, please contact:

Ms. Angeli Alba-Pascual
AAlba@habitat.org
+63 920 956 3376

Ms. Michele Soh
MSoh@habitat.org
+65 9233 1544.

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Q&M reports lower full year profits due to impairments and decrease in Covid-19 related revenue

SINGAPORE, Mar 2, 2023 – (ACN Newswire) – Mainboard-listed Q&M Dental Group (Singapore) Limited today reported total revenue of S$181.2 million, and profit after tax attributable to parent (PATMI) of S$11.3 million for the twelve months ended 31 December 2022 (FY2022). The Group Earnings before interest, tax, depreciation, amortisation (EBITDA) for FY2022 was S$35.2 million.

For FY2022, Core Healthcare revenue increased 2% to S$172.1 million and Core Healthcare EBITDA increased by 6% to S$39.5 million.

For the Other Business segment, revenue contributions from the Group's medical laboratory business dropped very significantly with demand for COVID-19 testing now reduced to a very small group, following the government eliminating all tests for locals and foreign visitors to Singapore.

As at 31 December 2022, the Group's financial position remains strong with Net Assets of S$96.5 million, as well as cash and cash equivalents of S$39.7 million. Bank borrowings plus finance leases amounted to S$85.1 million.

The Group declares a second interim dividend of 0.6 Singapore cent per ordinary share for 4Q2022. Together with the 0.4 Singapore cent dividend paid out for 1Q2022, the total dividends for FY2022 work out to 1.0 Singapore cent. The 4Q2022 dividend will be paid on 24 March 2023.

Q&M Chief Executive Officer Dr Ng Chin Siau said, "We are pleased to note that our Core Healthcare Business has continued to demonstrate strong resilience and is well-positioned to grow in the coming year.

We are heartened by the fact that the Core Healthcare's Revenue and EBITDA compound annual growth rate (CAGR) for the last 5 years (FY2018 to FY2022) are 9% and 26% respectively. We believe that with the strategies that we are implementing, this will continue to be the case.

The Group had been very nimble in the Covid-19 period, treating and reacting to threats as opportunities with resulting outstanding results. As we transition to a "living with COVID-19" stance now, long term growth will be driven by improved utilisation of our professional staff, optimising the use of clinics and improving margins. The key to this approach is continuing training and upgrading of our dentists and professional assistants and use of technologies. The Group is very well placed to implement these strategies with the Q&M College of Dentistry, our investments in technologies and an experienced management team, which has led the exponential expansion of our core businesses. "

Dr Ng continued, "We see the future of dentistry lying in combining the dentist's domain expertise and valuable experience with data-centric analysis to generate objective and highly accurate dental healthcare plans that are specifically tailored to individual needs.

With the above in mind, we will continue to prioritise in investing in our people as they are the bedrock upon which our long term success lies. Whether frontline or behind the scenes, they play a vital role in ensuring that we deliver the best dental healthcare to our patients, every single day."

4Q2022 Core Business Healthcare- Financial Performance

Revenue from Core Healthcare Business continues to inch up to S$46.2 million for the three months ended 31 December 2022 (4Q2022) mainly due to the organic growth of dental clinics (See Table 1). The Group added a net 10 dental clinics in Singapore and net 6 dental clinics in Malaysia the last 12 months.

Over the last 4 consecutive quarters ie 4Q2022 vs 1Q2022, 2Q2022 and 3Q2022, Core Healthcare Business grew between 9% and 12%. (See Table 2 above)

Operational Update and Recent Developments

The Group currently operates a total of 152 dental clinics, of which 107 are located in Singapore, 44 in Malaysia and 1 in PRC China. (See Table 3 above)

1. Dental Operations (Singapore and Malaysia)

The Group is initiating a strategy of intensive organic growth of dental clinics and will expand its team of dentists to support the future growth of its operations in Singapore. We will continue to develop, invest and optimise our digital guided clinical decision support system to provide the most effective and suitable treatment plans for our patients.

With rising standards of living and higher expectations of dental healthcare in Singapore, the Group believes it is well-positioned to meet the rising demand for primary and high-value specialist dental healthcare services for its patients.

In Malaysia, the Group operates 44 clinics with 16 dental clinics in Johor, 9 in Kuala Lumpur, 12 in Selangor, 4 in Melaka and 3 in Negeri Sembilan. The eventual number of dental outlets will depend on available opportunities and pertinent market conditions. The increasingly tight labour market is a limiting factor.

2. Dental Operations (People's Republic of China (PRC))

The main thrust of the Group's proposed expansion in PRC is through organic growth to develop a new and sustainable growth pillar that can yield long term value for the Group.

The Group is also actively exploring opportunities to expand its dental business to Southeast Asian countries at this time.

Strengthening Capabilities, Fortifying Relationships, Building Futures

Q&M has firmly committed to keep the business on a steady growth path that is always forward looking, sustainable yet firmly anchored in the Company's philosophy.

1. Expansion of network of dental clinics in Singapore, Malaysia and Southeast Asia and China

The Group is continuously looking for opportunities to expand its dental business to Southeast Asian countries with an emphasis on utilisation and optimisation of existing clinics, and only opening new clinics where appropriate and meets the overall strategic objectives of the Company.

2. Medical Laboratory

The Group's medical laboratory will continue to progressively roll out its pipeline of new PCR tests for various purposes. These include the tests for sepsis, identification of bacteria pathogens and their associated antimicrobial resistance in hospitalised pneumonia, as well as colorectal cancer screening and pharmacogenomics.

Looking Forward

Barring any unforeseen circumstances, there are no known significant changes in the trends and competitive conditions of the industry in which the Group operates and no other major known factors or events that may adversely affect the Group in the next reporting period and the next 12 months. However, the Group and the industry is impacted by increased manpower and occupancy costs, as well as shortage of and competition for trained nurses.

[1] Core Healthcare Business excludes contributions from the Group's medical laboratory, share of profit from disposal of associate, Aidite, other gains, other losses and expenses incurred on the development of the Group's digital Artificial Intelligence (AI) guided clinical decision support system as well as rental rebates received from the Singapore Government.

Please see links for PDF documents from SGXNET.
Financial Results: https://links.sgx.com/FileOpen/QnM_4Q_2022_Announcement.ashx?App=Announcement&FileID=748726
Press Release: https://links.sgx.com/FileOpen/QnM_PR_FY2022.ashx?App=Announcement&FileID=748727

About Q&M Dental Group (Singapore) Limited (QC7.SI)

Q&M Dental Group (Singapore) Limited (QC7.SI) ("Q&M" or together with its subsidiaries, the "Group") is a leading private dental healthcare group in Asia.

The Group owns the largest network of private dental outlets in Singapore, operating 107 dental outlets across the country. Underpinned by about 270 experienced dentists and over 350 supporting staff, the Group sees an average of 40,000 patient visits a month in Singapore. The Group also operates 5 medical clinics and a dental supplies and equipment distribution company.

Outside of Singapore, the Group has 44 dental clinics and a dental supplies and equipment distribution company in Malaysia, as well as a dental clinic in the People's Republic of China (PRC). Q&M is also the substantial shareholder of Aoxin Q&M Dental Group Limited, a dental Group listed on the Catalist board of the Singapore Exchange that operates dental clinics and hospitals primarily in the north-eastern region of the PRC. The Group aims to expand its operations geographically and vertically through the value chain in Malaysia, the PRC and within the ASEAN region.

The Q&M College of Dentistry was established in 2019 to offer postgraduate dental education as part of its commitment to continual education and professional development of dentists. It offers Singapore's first private postgraduate diploma programme in clinical dentistry.

In 2020, the Group expanded into the medical laboratories and research industry with the strategic investment into Acumen Diagnostics Pte. Ltd. (Acumen). Acumen currently focuses on the manufacture, sale and distribution of COVID-19 diagnostic test kits, as well as COVID-19 testing. It is also working to roll out a pipeline of new tests, including PCR assays for dengue, sepsis and, identification of bacterial pathogens and their associated antibiotics resistance in pneumonia and bloodstream infections.

The Group was listed on the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST) on 26 November 2009. For more information on the Group, please visit www.QandMDental.com.sg

For more information, please contact:
Waterbrooks Consultants Pte Ltd
Wayne Koo: wayne.koo@waterbrooks.com.sg, +65 9338-8166
Derek Yeo: derek@waterbrooks.com.sg, +65 9791-4707
General: query@waterbrooks.com.sg, +65 9690-4959

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Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Rinani Signs Share Sale Agreement for KLCFC

PETALING JAYA, Malaysia, Mar 2, 2023 – (ACN Newswire) – Rinani Group Berhad, a financial consulting firm, is pleased to announce that the Company has signed a share sale agreement (SSA) with the Kuala Lumpur Football Association (KLFA) to acquire a majority stake in Kuala Lumpur City FC Sdn Bhd (KLFC), the owner of the KL City FC (KLCFC) football club.

KLFA president Khalid Abdul Samad; Political Secretary to the Prime Minister, Azman Bin Abidin; Stanley Bernard, Managing Director of KLCFC; Datuk Seri Noor Azerai Ahmad; Rinani director Azri Azerai[L-R]

Rinani director Azri Azerai said, "The SSA officially makes Rinani the majority owner of KLFC. We pledge to bring KLCFC's performance on the pitch to a higher level by concentrating on coaching, player recruitment and youth development and we promise our fans better engagement and experience for their money's worth. Besides the game, we will also focus on enhancing the revenue stream for KLFC for it to be sustainable and continue maintaining the club."

"We would like to thank the KLFA for all that they have done over the years for the club and we will build on this to bring KLCFC to the next level. We will work towards having more corporate tie-ups and sponsorships for the club to be financially sustainable as well as ensure training levels that can bring the club to the international stage. We also would like to thank the Prime Minister, YAB Datuk Seri Anwar Ibrahim, for his support for our venture and for encouraging the growth of Malaysian football."

KLFA president Khalid Abdul Samad said, "This is a historic day for KLCFC with majority ownership of KLFC passing over to Rinani. The privatisation of the club is in the best interests of all that involved in the sports of football, including the players, supporters, sponsors and vendors that have been closely associated with the club over the years. Best wishes to not only KLCFC and Rinani Group, but also KLFA."

Political Secretary to the Prime Minister, Azman Bin Abidin said, "The privatisation of state-run football teams is vital for the further development of the game as this will ensure that clubs have access to the expertise and knowledge that the private sector can provide. It is also vital that the private sector run the football clubs professionally with good governance as this will assist in ensuring financial viability for youth development and player recruitment."

Stuart Ramalingam, CEO of Malaysian Football League said, "The continued privatisation of football clubs in the country will benefit all stakeholders, especially the players as their welfare will be better taken care of. There will be more transparency in how the clubs are run and finances managed. Professional management of the clubs is important as this will mean the need to engage with supporters, improve performance and offer a better product."

Rinani's acquisition of a majority stake in KLFC is also in line with the directives from FIFA, football's international governing body, and of the Asian Football Confederation, to have state-run football teams be professionally run, privately financed and independently owned.

Rinani Group Bhd: http://rinani.com.my/
Kuala Lumpur City FC: https://kualalumpurfootball.com/

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Infocus International Announces the New Dates for LNG Supply, Demand, Pricing & Trading Online Course

Singapore, Mar 2, 2023 – (ACN Newswire) – Infocus International Group has announced the new date for the best rated LNG Supply, Demand, Pricing & Trading online training and it will be commencing live on the 27th March 2023.

2022 is proving to be a year of change for the LNG business. LNG demand is growing as Covid restrictions are eased but reduced investment during the pandemic and delays in construction are slowing the addition of much needed new liquefaction capacity. The Ukraine crisis has added to the demand for LNG as Europe implements policies to reduce and eventually end the import of pipeline natural gas from Russia. Trading patterns are changing as sellers respond to the need for more LNG in Europe by diverting cargoes from other markets. Prices for spot LNG supply in Europe and Asia have risen to unprecedented levels, putting pressure on buyers in price sensitive markets and delaying the start of imports into new markets. Developers of new liquefaction capacity are responding to the increasing demand with Final Investment Decisions (FIDs) taken on 38 mtpa of capacity in 2021 and 13.33 mtpa in the first five months of 2022. Capacity under construction in June 2022 was 138 mtpa but more is needed if forecasts of LNG demand growth is to be met. Buyers who delayed decisions on signing new supply contracts because of demand uncertainty are returning to the market, which has put the developers of planned new projects, especially in the USA, in a position to commit to construction. As a result, more FIDs are expected to be taken by the end of 2023.

Energy transition has brought increased demands for the LNG business to reduce greenhouse gas emissions in all parts of the LNG chain from natural gas production through to the combustion of regasified LNG in downstream markets. It raises questions over LNG role in long-term energy supply. Will demand increase as natural gas replaces coal in power generation and is used as a back-up fuel for renewables or will natural gas be seen as a fossil fuel whose consumption has to be reduced if targets of net zero carbon emissions are to be met? How are producers, buyers and investors responding to the increased long-term uncertainty?

The online course will, over 6 sessions, provide an overview of the LNG business in 2023 with a commercial focus but technology and shipping will also be covered. It will consider the outlook for the business over the period to 2040 in terms of markets, sources of supply, pricing and trading and the response to energy transition. It is designed not only for newcomers to LNG but also those who want to refresh their knowledge or who have experience in one part of the business or one region and want to widen their knowledge.

"The trainer was very clear and the content was communicated very well with many examples and was really very topical. I learnt a lot during these sessions and will pass this on," said a past attendee from AQUALECTRA.

A past attendee from Petroleum Institute of Thailand also shared, "Thank you for the fruitful training course which I really appreciated. Everything was excellent. Training materials were well prepared and up to date."

Check out the LNG online course new agenda at www.infocusinternational.com/lng-online.

Course Sessions
1. LNG value chain in 2023
2. Safety, shipping and current status of the LNG business
3. LNG markets and terminals
4. LNG shipping and supply
5. Acquiring LNG supply and LNG pricing
6. LNG contracts and LNG spot and short-term trading

Benefits of Attending

– Understand LNG chain technologies, costs, economics and safety
– Appreciate how the LNG business is changing and the implications for those working in the business
– Gain insights into LNG pricing and how it is evolving
– Acquire in-depth knowledge of world LNG markets and supply sources
– Assess the increasing role of spot and short-term trading

Want to learn more?

Simply email esther@infocusevent.com or call +65 6325 0210 to obtain your FREE COPY of the event brochure. For more information, please visit www.infocusinternational.com/lng-online

About Infocus International Group

Infocus International is a global business intelligence provider of strategic information and professional services for diverse business communities. We recognise clients' needs and responds with innovative and result oriented programmes. All products are founded on high value content in diverse subject areas, and the highest level of quality is ensured through intensive and in-depth market research from local and international insights. For more information: www.infocusinternational.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Congregation of the airport community at inter airport Southeast Asia 2023

Singapore, Mar 2, 2023 – (ACN Newswire) – inter airport Southeast Asia, Asia's international airport exhibition and conference, kicked off with a strong line-up of industry heavyweights including a global perspective by Jean Roche, Head of International Engineering Services of ADP International, Asia Pacific outlook by Piyush Chawla, Managing Director APAC of Cirium and an in conversation with Angela Ng, Director, Aviation Industry of Civil Aviation Authority of Singapore.

Running till 3 March at the Marina Bay Sands, this biennial event comes a time when the aviation industry outlook is positive and supported by the upsurge in air travel demand and amid heightened macroeconomic risks.

The 8th edition inter airport Southeast Asia anticipates 4,000 airports, airlines, ground handlers, architects, designers, consultants, and many more to converge at the Marina Bay Sands and Convention Centre.

Conference: Aviation thought leaders converge to discuss matters of concern
Returning after 4 years of hiatus, inter airport Southeast Asia presents a 3-day conference featuring 30 high-level representations from airports, business partners and from the aviation ecosystem.

The conference, with the theme, "Re-Conditioning for Asia's Long-Haul Growth" offers an overall outlook of the APAC aviation industry, addressing necessary challenges, underlining opportunities, and revealing exclusive statistics/data/trends by leading analysts and consultants, to ultimately allow strategic, sustainable reassessments & safeguards, as industry landscapes evolve.

Speakers include:
– Latchida Apaphant, Executive Vice President (Corporate Strategy), Airports of Thailand PLC
– Anurag Shandilya, Head of Airport Operations, Noida International Airport
– Michael Portier, Deputy Director Aviation, Surbana Jurong Private Limited
– Ng Kuan Luen – Director, Ventures, Changi Airports International
– Tan Lye Teck, Executive Vice President, Safety & Security, Changi Airport Group
– Mohd Nadziruddin Mohd Basri, Chief Executive Officer, Aviation Services (AVS), Malaysia Airlines
– Ali Mushthaq, Deputy Chief Officer, Passenger Services, Maldives Airports Company Limited
– Rene van Joost, Cargo & Ground Handling Senior Expert, PMO Aviation Services & Cargo (ASC), Angkasa Pura I – injourney
– Tan Yen Ling, Head, Sustainability and Strategic Projects, SATS Ltd
– Saurabh Dalvi, Head of Operations (Mumbai, Goa, Hyderabad), CelebiNAS Airport Services India Pvt. Ltd
– Ma Yin, Vice President, Beijing Daxing International Airport of Capital Airports Holdings Limited Company

Today, Day 2 (2 March) of inter airport Conference, a spotlight will shine on Sustainability, carbon net zero & eco-airports; India, the booming aviation market with new and upgraded airports and the infrastructure needed to keep up with anticipated growth that will translate into billions of dollars in equipment to be purchased; and on China's Beijing Daxing International Airport, the supersize international hub airport which will transform Beijing into the centre of global aviation.

Delegates of the conference session on Day 3 (3 March) will gain insights on the opportunities in several key markets throughout Asia as new airport infrastructure development plans unfold and understanding the underlying drivers behind the growth and need for major airport infrastructure investments.

"We are at a critical juncture in Asia with passenger traffic recovering rapidly and likely to reach a full recovery late this year or next year. Once growth resumes airports will be rushing to get ahead of the curve. As more terminals and runways are reaching their maximum capacity, there is an associated need for more equipment. There is hardly a market in Asia that will not have expansion plans in the next few years, but every market is different in terms of their growth trajectory and requirement," said Brendan Sobie, Independent Analyst & Consultant, Sobie Aviation.

Exhibition: where business opportunities between the World and Asia are facilitated
At the three-day exhibition, 150 exhibitors from 28 countries and regions will showcase its wide range of products and technologies to airports and airlines related trade professionals, as they seek the appropriate solutions for their business needs.

To maximise exposure of their latest products, various industry players took the opportunity to launch new offerings at the event. These include ITW GSE (7400 eGPU – battery powered ground power unit to reduce carbon footprint), Sanxing (TowFLEXX TF5 Towbarless remote-control aircraft tug to reduce damage to aircraft), Cognitec (FaceVACS-Entry improved face recognition technology for security) and many more.

"An industry platform like inter airport allows us to introduce our latest innovation to the vast number of new and existing clients and partners and gives us the opportunity to connect with the community and find out what is the latest developments in the industry," said Bryan Loh, Manager Outside Sales, Sanxing Pte Ltd. The remote-controlled aircraft tug will be on display at the Singapore Pavilion at IASEA 2023 for industry professionals to understand how it can benefit their airport operations.

The exhibition also features strong international representation with 3 official pavilions from Germany, Italy and Singapore. Of which, Germany representation grew 27% compared to 2019.

Members of the media who have yet to register for the event, click here, or to reach out to Team Lewis at IASEAsg@teamlewis.com for any assistance, including interview opportunities, and other logistics matter such as collection of media pass.

About inter airport Southeast Asia

inter airport Southeast Asia (IASEA) is Asia's Premier airport exhibition and covers all areas of airport-related technology, equipment, and services, in one place. Established since 1997, IASEA brings the entire airport value chain together and gives industry professionals across the airport sector an unrivalled access to Asia's most influential airport executives, development projects in Asia and Asian airport industry insights. This is where the airport industry gathers and soar with Asia. Visit www.interairport-southeastasia.com for the full programme, speaker line-up and exhibitor list.

About RX Global

RX is in the business of building businesses for individuals, communities and organisations. We elevate the power of face to face events by combining data and digital products to help customers learn about markets, source products and complete transactions at over 400 events in 22 countries across 43 industry sectors. RX is passionate about making a positive impact on society and is fully committed to creating an inclusive work environment for all our people. RX is part of RELX, a global provider of information-based analytics and decision tools for professional and business customers. www.rxglobal.com

About RELX

RELX is a global provider of information-based analytics and decision tools for professional and business customers. RELX serves customers in more than 180 countries and has offices in about 40 countries. It employs more than 33,000 people over 40% of whom are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX. The market capitalisation is approximately GBP46.9bn, EUR55.4bn and USD55.3bn.

*Note: Current market capitalisation can be found at http://www.relx.com/investors

For media queries or interview interest, please reach out to:
TEAM LEWIS
Email: IASEAsg@teamlewis.com
Kang Jia Rui: +65 9451 4873
Geneva Pichay: +65 9648 4254

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

TANAKA Strengthens Electrical Contact Supply System in China by Making Metalor’s Subsidiary in China a Wholly Owned Subsidiary to Enhance Production Capabilities

TOKYO, Mar 2, 2023 – (ACN Newswire) – TANAKA Kikinzoku Kogyo K.K. (Head office: Chiyoda-ku, Tokyo; Representative Director & CEO: Koichiro Tanaka), one of the core companies of the Tanaka Precious Metals group based in Japan, announced today that it acquired all shares of Metalor Electrotechnics (Suzhou) Ltd. (hereafter, "Metalor Suzhou") held by its group company Metalor Technologies International SA (hereafter, "Metalor") on April 1, 2023. Metalor Suzhou is Metalor's subsidiary in China, and this acquisition of shares makes Metalor Suzhou a wholly-owned subsidiary of TANAKA Kikinzoku Kogyo. The subsidiary has been renamed METALOR TANAKA Electrical Materials (Suzhou) Ltd., and its system of directors will be changed.

Metalor Electrotechnics (Suzhou) Ltd. (From April 2023, METALOR TANAKA Electrical Materials (Suzhou) Ltd.)

Reasons for the Acquisition of Metalor Suzhou's Shares

In recent years, there have been increasing needs from major Chinese customers for local production of electrical contacts in China. Therefore, TANAKA aims to continuously expand business in China by integrating TANAKA Kikinzoku Kogyo's production knowledge with Metalor Suzhou's resources to expand production capabilities and build a system for stable supply. Furthermore, it will be an essential base for business expansion, using TANAKA's network to open new markets and gain new customers in Asia, which has prominent market growth. In 2024, a portion of TANAKA Kikinzoku Kogyo's electrical contact-related products will be transferred, and mass production will commence. It is expected that the new company's sales will double by 2030.

In addition, the system will be capable of supplying a broader range of products through collaboration with group company TANAKA Kikinzoku (Ningbo) Co., Ltd., which manufactures silver electrical contacts used in automotive components.

About Metalor Suzhou

Metalor Suzhou commenced operations in 2006 as Metalor's base for the manufacture and sales of electrical contacts for Asia and China. The company manufactures and sells electrical contacts and contact assemblies used mainly in circuit breakers and contactors. In 2014, the Metalor Suzhou plant was relocated to its current location in Wuzhong, Suzhou.

Outline of New Company (from April 2023)
– Company Name: English: METALOR TANAKA Electrical Materials (Suzhou) Ltd.
– Chairman (Representative Director): Tomoyuki Tada
– Location: 888 Wusong Road, Wuzhong Economic and Technological Development Zone, Suzhou, China
– Activities: Manufacture and sales of electrical contacts/wires and contact assemblies

About TANAKA Precious Metals

Since its foundation in 1885, TANAKA Precious Metals has built a portfolio of products to support a diversified range of business uses focused on precious metals. TANAKA is a leader in Japan regarding the volumes of precious metals handled. Over the course of many years, TANAKA has not only manufactured and sold precious metal products for industry but also provided precious metals in such forms as jewelry and assets. As precious metals specialists, all Group companies in Japan and around the world collaborate and cooperate on manufacturing, sales, and technology development to offer a full range of products and services. With 5,225 employees, the Group's consolidated net sales for the fiscal year ending March 31, 2022, were 787.7 billion yen.*
*From the current consolidated fiscal year, the amounts of sales for some transactions are indicated as net values due to the application of the Accounting Standard for Revenue Recognition.

Global industrial business website
https://tanaka-preciousmetals.com/en/

Product inquiries
TANAKA Kikinzoku Kogyo K.K.
https://tanaka-preciousmetals.com/en/inquiries-on-industrial-products/

Press inquiries
TANAKA Holdings Co., Ltd.
https://tanaka-preciousmetals.com/en/inquiries-for-media/

This press release in PDF: https://www.acnnewswire.com/docs/files/20230228_EN.pdf

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com

AssetWise PCL (SET: ASW) strengthens ties with Takara Leben, launches B1.35bn development in Atmoz Flow Minburi

BANGKOK, Mar 1, 2023 – (ACN Newswire) – Thailand's leading life-style real estate developer AssetWise PCL (ASW) has strengthened its partnership with Japanese real estate giant Takara Leben to launch a BHT 1.35 billion condominium in Bangkok's Minburi neighbourhood. Atmoz Flow Minburi represents the third joint venture project in a two-year time frame between the two companies in a move that serves to underscore the viability they see in the ideally located development.

Atmoz Flow Minburi is situated near the Pink Line MRT mass transit system and is easily accessible by the Minburi Market Station. It forms the first phase of the ASW's WISEPARK community development that caters to life-styles of all generations and at same time reflects the company's 'We Build Happiness' philosophy. Atmoz Flow Minburi is expected to be up and running in the fourth quarter of this year and starting to recognise revenue by then.

According to ASW Chief Executive Officer Kromchet Vipanpong, ASW holds a 51% share in Atmoz Flow Minburi venture with Takara Leben taking a 49% share. It follows on the heels of two earlier condominium projects collaborations between the Thai and Japanese firms – Atmoz Tropicana Bangna and Kave Seed Kaset Campus near Kasetsart University.

Takara Leben's extended partnership with ASW this time around speaks volumes about their confidence in ASW and the potential of the Atmoz Flow Minburi on the location which is poised to become a new central business district with a centre of employment in the eastern Bangkok area."The three ASW-Takara Leben joint venture projects are worth more than five billion baht and both sides are likely to take their partnership into future projects," Kromchet said.

Atmoz Flow Minburi consists of 8-storey, 3 buildings with 739 units in total and is only 300 metres away from the Min Buri Market Station of the Pink Line MRT which is expected to be officially operational within this year.

Atmoz Flow Minburi comes with a complete common facility to meet the life-styles of residents of all generations for living together perfectly. It is the first project that embraces the 'All Gen' concept of room design that answers to the living needs of all ages. In addition, Atmoz Flow Minburi is also the first phase of WISEPARK's development on a large plot of land that will evolve into a larger community.

Kazuichi Shimada, CEO of Takara Leben, said the company is looking for joint venture opportunities in real estate developments in Thailand, stemming from the experience of being a partner with ASW. "We have strong confidence in ASW whose management has committed to running good business while sharing the same business philosophy as ours, meaning adopting the design for living happily."

Furthermore, the location of Atmoz Flow Minburi close to the Pink Line, and being surrounded by sources of employment and facilities such as industrial estates and hospitals constitute compelling reasons for Takara Leben to partner with ASW again.

Takara Leben (3492.T) is listed on the Japanese Stock Exchange and has engaged in more than 500 property development projects under the brands of The Leben, Nebel and Leben Platz. The company also has power plant and hotel businesses in Japan and expands investment in real estate to the ASEAN region such as Thailand and Vietnam.

ASW has developed more than 47 condominium and housing projects with all-encompassing life-styles under the brands of KAVE, ATMOZ, MODIZ, ESTA, and THE HONOR worth over BHT 49.9 billion with value of backlog stands at more than BHT 11.4 billion.

Visit https://assetwise.co.th [SET: ASW][SET: ASW/F][SET: ASW-R].

Released for AssetWise PCL by MT Multimedia Co Ltd
Pipop Kongwong (Top), T: +66 (0) 81 929 8864, E: pipop.k@mtmultimedia.com

Copyright 2023 ACN Newswire. All rights reserved. http://www.acnnewswire.com