Prenetics Announces US$20 Million Stock Repurchase Program and Inclusion into the MSCI Global Micro Cap Index

LONDON AND HONG KONG, Nov 30, 2022 – (ACN Newswire) – Prenetics Global Limited (NASDAQ: PRE) ("Prenetics" or the "Company"), a global leader in genomic and diagnostic testing, today announced that its board of directors has authorized a share repurchase program, and that it has been included as a constituent stock in the MSCI Global Micro Cap Index (Hong Kong), with such inclusion to become effective after the U.S. market close today.


Board Approval of Share Repurchase Program

The Company's board of directors has authorized a share repurchase program under which the Company may repurchase its class A ordinary shares with an aggregate value of up to US$20 million during a 24-month period (the "Repurchase Program").

Under the Repurchase Program, the Company may make repurchases from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades, and/or through other legally permissible means, and the Company may enter into one or more trading plans. The Company plans to fund the repurchase program using existing cash and cash equivalents or future cash flow. The timing and amount of the share repurchases made pursuant to the program will be decided by the Company based on its evaluation of market conditions and be subject to various factors, including the Company's capital position, liquidity, financial performance and alternative uses of capital, stock trading price, regulatory requirements and general market conditions. This repurchase authorization does not obligate the Company to acquire any specific number of shares or securities and may be modified, suspended or discontinued at any time.

Inclusion in the MSCI Global Micro Cap Index (Hong Kong)

Effective after the U.S. market close today, Prenetics will be included as a constituent stock in the MSCI Global Micro Cap Index (Hong Kong).

Following the inclusion of Prenetics, there will be a total of 17 HK-headquartered companies included in this Hong Kong index. According to MSCI, the entire MSCI Global Micro Cap index includes a total of 299 constituents in 22 developed markets (with Hong Kong included). Please visit the below link for more information.

https://www.msci.com/our-solutions/indexes/market-classification

MSCI is a leading provider of global equity indices. It is widely recognised as a benchmark for global institutional investors to optimise their investment portfolios especially passive index funds. It covers companies with good operation results in particular and assessments are based on some objective factors such as market capitalisation, free float and liquidity, foreign inclusion factor requirement and minimum length of trading requirement etc.

Danny Yeung, Chief Executive Officer and Co-founder of Prenetics, said "Our announcement today of our share repurchase program demonstrates our commitment to deliver long term value to our shareholders. We believe the recent volatility not only in the global market but in particular of our shares, driven by the expiry of our lock-up, which are now trading below our net book value of US$207m has provided us with an opportunity to generate strong returns for our shareholders.

Our business fundamentals remain strong with a very healthy balance sheet of US$250m in net current assets, and are on target to deliver an uplifted financial forecast in the range of US$270-280m in revenue and US$47-53m in adjusted EBITDA for FY2022. We remain committed to a disciplined and flexible capital allocation strategy in conjunction with other opportunities such as organic growth, M&A and other forms of accreditive capital deployment.

In addition, Prenetics' inclusion in the MSCI Global Micro Cap Index (Hong Kong) represents a key milestone and reflects the confidence of stakeholders in the Company's long term growth strategy. This is the first index in which Prenetics is included and we look forward to being included in additional indices in the short-term future."

About Prenetics

Founded in 2014, Prenetics is a major global diagnostics and genetic testing company with the mission to bring health closer to millions of people globally and decentralize healthcare by making the three pillars – Prevention, Diagnostics and Personalized Care – comprehensive and accessible to anyone, at anytime and anywhere. Prenetics is led by visionary entrepreneur, Danny Yeung, with operations across 9 locations, including United Kingdom, Hong Kong, India, South Africa, and Southeast Asia. Prenetics develops consumer genetic testing and early colorectal cancer screening; and provides COVID-19 testing, rapid point of care and at-home diagnostic testing and medical genetic testing. To learn more about Prenetics, visit www.prenetics.com.

Enquires:

Investors:
investors@prenetics.com

Forward-Looking Statements
In addition to historical information, this release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "should," "plan," "expect," "predict," "potential," or the negative of these terms or other similar expressions. These statements include, but are not limited to, statements regarding our future financial and operating performance, including our outlook and guidance, and our strategies, priorities and business plans. These statements include, but are not limited to, statements by our management or the Board regarding expectations for the repurchase of our common shares, including the aggregate amount, timing, and manner of such repurchases, and statements of plans, objectives, and expectations of us, our management or the Board. Our expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Factors that could impact our actual results include, but are not limited to: changes in applicable laws or regulations applicable to Prenetics; developments related to the COVID-19 pandemic; the regulatory environment and changes in laws, regulations or policies in which Prenetics operate; Prenetics' ability to successfully compete in highly competitive industries and markets; Prenetics' ability to continue to adjust its offerings to meet market demand; Prenetics' ability to attract customers to choose its products and services and grow its ecosystem; political instability in the jurisdictions in which Prenetics operates; the overall economic environment and general market and economic conditions in the jurisdiction in which Prenetics operates; and Prenetics' ability to execute its strategies, manage growth and maintain its corporate culture as it grows. In addition to the foregoing factors, you should also carefully consider the other risks and uncertainties included in Prenetics' filings with the U.S. Securities and Exchange Commission (the "SEC") from time to time. Because of these uncertainties, you should not make any investment decisions based on our estimates or forward-looking statements. Prenetics does not undertake any obligation to update any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as required under applicable law.

Website

Prenetics intends to use its website as a distribution channel of material company information. Financial and other important information regarding the Company is routinely posted on and accessible through the Company's website at https://www.prenetics.com/. Accordingly, we recommend you to monitor the investor relations portion of our website at https://ir.prenetics.com/ in addition to following our press releases, SEC filings, and public conference calls and webcasts. In addition, you may automatically receive email alerts and other information about the Company when you enroll your email address by visiting the "Request Email Alerts" section of our investor relations page at https://ir.prenetics.com/. However, the additional information contained on our website is not part of our SEC filings.


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JE Cleantech (JCSE) Announces Strong Growth in Q3 2022

SINGAPORE, Nov 30, 2022 – (ACN Newswire) – JE Cleantech Holdings Limited (Nasdaq: JCSE), ("the Company") a Singapore-based cleantech company, today announced encouraging Q3 financial results, for the three months period ended 30 September 2022 (the "reporting period"). During the reporting period, the Company has maintained strong growth in its overall business performance with revenue that more than doubled and a strong turnaround in net income.

For the three months period ended September 30, 2022, the Company's total revenue increased by approximately S$3.5 million or 141.8% to approximately S$5.9 million from approximately S$2.4 million in the quarter ended September 30, 2021. The increase was mainly derived from the increase in revenue generated from the Company's sale of cleaning systems and other equipment business of approximately S$3.2 million and the provision of centralized dishwashing and ancillary services business of approximately S$0.3 million, attributable to the post COVID-19 recovery of business.

Net income of the Company for the reporting period amounted to approximately S$0.6 million, compared to a net loss of approximately S$0.2 million in the same period last year, indicating a significant turnaround for its business performance.

During the reporting period, the Company recorded a gross profit margin of approximately 26.0%, an increase of 63.5% year-over-year. Diluted Earnings Per Share was approximately S$0.05, compared to the basic losses per share of approximately S$0.01 during the same period in 2021.

Ms. Bee Yin Hong, CEO and Founder, JE Cleantech said, "We are excited to announce that JE Cleantech has performed well during Q3 2022. Our Q3 results reflect our strong focus on exploiting the rapid recovery of the electronic manufacturing and F&B sectors. As a leading manufacturer of precision cleaning systems and provider of centralized dishwashing and ancillary services in Singapore, we will continue to drive our long-term expansion plans".

JE Cleantech has been providing centralized dishwashing services in Singapore since 2013, for customers in various industries, including HDD manufacturing, semiconductor manufacturing, food and beverage, and public transportation. The Company's revenue contributes approximately 15 per cent market share in 2020 in terms of revenue (source: Euromonitor estimates from desk research and trade interviews with leading centralized dishwashing services providers and the relevant trade associations in Singapore). Moving forward, the Company will persistently spare no efforts in further expanding its business, widening its product offerings to more industries, growing its market share, and generating long-term and sustainable returns for its shareholders and investors.

About JE Cleantech Holdings Limited

JE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i) the sale of cleaning systems and other equipment; and (ii) the provision of centralized dishwashing and ancillary services. Through its subsidiary, JCS-Echigo Pte Ltd, the company designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications primarily to customers in Singapore and Malaysia. Its cleaning systems are mainly designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide range of frequencies, high pressure drying technology, high flow rate spray, and deionized water rinses, which are designed for effective removal of contaminants and to minimize particle generation and entrapment. The Company also has provided centralized dishwashing services, through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, both mainly for food and beverage establishments in Singapore. http://www.jecleantech.sg/

[1] These financial and other data for the three months and nine months periods ended September 30, 2021 and 2022 have not been audited or reviewed by the Auditors.

Disclaimer: Forward looking statements

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," "our strategy," or similar expressions. Forward-looking statements made in this press release that relate to our future contract revenues among other things involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update "forward-looking" statements.

For Media Enquiries and Investor Relations, please contact:
jcse@preciouscomms.com

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Yew Lee Posts RM6.1 Million Revenue in 3Q

KUALA LUMPUR, Nov 30, 2022 – (ACN Newswire) – Yew Lee Pacific Group Berhad, a manufacturer of industrial brushes as well as trading of industrial hardware and machinery parts, today announced that the Group recorded revenue of RM6.10 million for the third quarter ended 30 September 2022 (3Q FY2022).
Managing Director of Yew Lee, Mr. Ang Lee Leong


There are no comparisons on a year-over-year basis as the Group was listed on the ACE Market of Bursa Malaysia Securities Berhad on 7 June 2022.

For the quarter under review, Yew Lee reported gross profit of RM2.12 million while registering profit before tax (PBT) of RM0.96 million and profit after tax of RM0.76 million. For the nine-month period ended 30 September 2022 (9M 2022), the Group registered RM24.35 million in revenue while recording a profit before tax of RM0.39 million and a loss after tax of RM0.41 million.

Manufacturing activities contributed RM3.84 million to total revenue while trading activities contributed RM2.27 million in 3Q FY2022.

Managing Director of Yew Lee, Mr. Ang Lee Leong said, "We continue to sustain and generate profit from our operations. It is worth noting that stripping the one-off listing expenses of RM2.70 million, the Group would have reported a 9M 2022 PBT of RM3.0 million.

"The Group's immediate plans is to reduce its dependency on the rubber glove industry by seeking opportunities in the semiconductor, timber, glass and agriculture industries. We are encouraged by the political stability from the appointment of a new Prime Minister, and we hope that the new government will be supportive of the economy with sound policies and measures."

"Besides diversifying our customer base, which will take time, the Group is also improving its manufacturing efficiency and automating manufacturing processes by acquiring additional automated machinery and equipment to support the long-term growth of the business. We are also expanding the trading of industrial hardware and machinery parts especially in the central and southern regions of Peninsular Malaysia and, expanding to more markets overseas."

The Group's overseas markets include Thailand, Vietnam, Indonesia and Taiwan, which contributed about a quarter to total revenue in the financial year ended 31 December 2021.

Yew Lee Pacific Group Bhd: 0248 [BURSA: YEWLEE], https://yewlee.com.my/

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SCIB Posts 14.5% Increase in Revenue to RM30.3 Million in 1Q FY2023

KUCHING, MALAYSIA, Nov 30, 2022 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company registered a 14.5% increase in revenue to RM30.3 million for the first quarter ended 30 September 2022 (1Q FY2023) compared with RM26.5 million in the corresponding quarter of the previous financial year (1Q FY2022).
Group MD and CEO of SCIB, Encik Rosland bin Othman

Independent Non-Executive Chairman, Encik Shamsul Anuar bin Ahamad Ibrahim


For the quarter under review, SCIB's loss before tax (LBT) narrowed by 65.3% to RM942,000 compared with LBT of RM2.7 million in 1Q FY2022.

On a segmental basis, revenue contribution from manufacturing increased 26.8% to RM24.2 million in 1Q FY2023 compared with RM19.1 million in the corresponding quarter of the previous financial year while revenue contribution from the engineering, procurement, construction and commissioning (EPCC) business decreased 16.9% to RM6.2 million from RM7.4 million.

Group Managing Director of SCIB, Encik Rosland bin Othman, said, "The manufacturing business continues to be the mainstay in the quarter under review. It has also returned to profitability as there was a profit before tax of RM1.0 million compared with LBT of RM217,000 in 1Q FY2022 mainly attributable to the increase in revenue and contribution margins from the sales of concrete products and lower administrative expenses. The EPCC business saw a slight decline and while there was a loss, profitability actually improved as a result of lower administrative expenses."

"We remain cautiously optimistic as we leverage on our strengths as the largest precast concrete and Industrialised Building System (IBS) manufacturer in Sarawak and Sabah to continue seeking opportunities in Peninsular Malaysia and Indonesia focusing on small-to-mid-sized infrastructure for water, electricity, roads, health and education projects.

Chairman of SCIB, Encik Shamsul Anuar bin Ahamad Ibrahim added, "We view favourably Sarawak Economic Development Corp's successful tender of the RM448 million System Package Two contract for the Kuching Urban Transportation System project phase one as such projects have positive spillover for the state economy."

"The Company recently unveiled an IBS sample house built with 3D printer technology to showcase the important role technology has and will continue to have in the construction industry. These technology initiatives will play an increasingly important role for us as we transform to meet the challenges of the present and the future," En. Shamsul Anuar said.

The Company also announced separately on the stock exchange that SCIB and its wholly-owned subsidiaries, SCIB International (Labuan) Ltd., SCIB Properties Sdn. Bhd. and SCIB Industrialised Building System Sdn. Bhd, have issued notices of termination to four clients to mutually terminate contracts with them.

En. Rosland said, "The Company is enforcing its rights under the contracts and taking the necessary measures to protect SCIB's interests in mitigating the risks arising from the long-overdue debts owing by the clients or the slow or non-movement of progress for projects that these clients have undertaken due to uncertainties arising from the COVID-19 pandemic as well as the economic and political situations. We also made this decision after reviewing and updating the Company's order book records to reflect the current situation."

As of 30 November 2022, SCIB has an order book of RM564.7 million with earnings visibility until 2026.

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

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

‘Balance Beyond the Boom’ – HKTDC Entrepreneur Day helps start-ups prepare for the post-pandemic landscape

HONG KONG, Nov 30, 2022 – (ACN Newswire) – The Hong Kong Trade Development Council (HKTDC) announces the launch of Entrepreneur Day, a three-day (30 November to 2 December) event with the theme of 'Balance Beyond the Boom'. Packed with a hybrid mix of online and physical seminars and exhibitions, the event explores a diverse range of developments in the global entrepreneurial ecosystem. Through forums, exhibitions, workshops, and networking events in the "Start-up Arena", industry leaders, experts, start-ups and participants learn how to achieve business success in the post-pandemic world. The first-ever "Start-up Express International" will also be held on 1 December bringing together local and international start-ups to exchange views and share experience, as well as encourage overseas expansion.
Organised by HKTDC, Entrepreneur Day began today. Margaret Fong, Executive Director of the HKTDC, delivered the welcoming remarks.

During the seminar, "T-Chat – Global VC Investment: Rise or Fall", Eric Manlunas, Founder & Managing Partner of Wavemaker Partners, Duncan Chiu, Council Member (Technology and Innovation) of HKSAR Legislative Council, and Karena Belin, Co-founder of AngelHub & WHub, provided their outlook for the global venture capital market next year.

The "Start-up Zone" and "The Boosters" showcased over 30 start-ups and start-up supporting companies.


Welcoming participants to the event, Margaret Fong, Executive Director of the HKTDC, said: "We are delighted to host Entrepreneur Day in hybrid format for the first time. The pandemic has caused considerable disruption to market economies across the world. It has also hit entrepreneurs hard. Yet, I am encouraged by the new and emerging opportunities entrepreneurs are seizing, including in the digital economy. Indeed, entrepreneurs are the heartbeat of our global economy. Just like the pandemic, they disrupt the status quo. They challenge convention to enable progress. They accelerate innovation and economic growth across the globe."

"Under the theme 'Balance Beyond the Boom', we will explore the trajectory of the global start-up ecosystem since the start-up boom and help start-ups gain a foothold in key markets, especially the Guangdong-Hong Kong-Macao Greater Bay Area and Regional Comprehensive Economic Partnership. To celebrate the Start-up Express's 5th anniversary, we will launch its international series on Entrepreneur Day, when outstanding overseas early-stage start-ups will be invited to share the stage with Start-up Express winners."

Charting the way forward with advice from experts

Entrepreneur Day featured several seminars beginning with "T-Chat – Global VC Investment: Rise or Fall?". According to data from Dealroom, venture capital firms invested more than $675 billion in start-ups worldwide in 2021 or double the amount from the previous year. However, global capital markets have seen heightened volatility this year despite the fading impact of the COVID-19 pandemic. Eric Manlunas, Founder & Managing Partner of Wavemaker Partners, Duncan Chiu, Council Member (Technology and Innovation) of HKSAR Legislative Council, and Karena Belin, Co-founder of AngelHub & WHub, reviewed their investments in 2022 and shared their outlook for the global venture capital market next year. They also offered advice on how entrepreneurs can better equip themselves to raise funds in a potentially difficult environment.

Eric Manlunas said: "Despite the uncertainties of the current macro environment, global venture capital is here to stay, given the social utility it provides. Venture capital is a strong catalyst for innovation and business formation, thus its purpose is more compelling than ever [before], in spite of the current macroeconomic challenges".

Duncan Chiu said: "Keep tracking talents. Talents attract talents. Fintech is not just [about] technologies, but still has to comply with international regulations".

In a fast-changing world, start-ups need to be able to adapt to a dynamic environment while still being cautious about funding. The "Capture Funds at Critical Times" workshop featured Mingles Tsoi, Chief eXploration Officer of ParticleX, who has guided local and international technology start-ups through the challenges of fundraising, and Brian Tsui, Co-Founder of the Chicago Booth Angels Network, who shared their personal experience and advise to start-ups on their fundraising strategies and planning.

Enhancing customer experience with NFTs to create business opportunities

With non-fungible tokens (NFTs) becoming the talk of the town, Lucas Cheung, Managing Partner of leading Asian brand technology firm Gusto Collective, and Nick Lau, founder of digital luxury Web3 platform WEAR, shared their insights on the application of NFTs in the entertainment and fashion space. Cheung discussed how his company has enhanced brand value and opened doors to new opportunities through immersive customer experiences. Lau shared how WEAR has integrated physical products with digital collectibles and the company's successful collaborations with world-renowned brands.

Propelling re-industrialization of Hong Kong – the springboard to the GBA

With a mature ecosystem for start-ups to thrive in, Hong Kong is well-known for its business-friendly environment and for incubating outstanding enterprises. In the panel discussion "Entrepreneurship in HK – Scaling up through Hong Kong", previous winners of the Start-up Express competition shared their experience of starting a business in the city. The panel discussion involved Justin Chan, CEO & Co-Founder of Gense Technologies, KK Chiu, Co-Founder & CEO of Zeek, and Mazing Lee, Co-Founder & CEO of Lify Company Limited.

The 12th World SME Summit, co-organised by the Hong Kong General Chamber of Small and Medium Businesses, celebrated the 25th anniversary of the establishment of the Hong Kong Special Administrative Region and aimed to facilitate re-industrialisation in Hong Kong. The summit had the theme of "Achieving re-industrialisation through innovation in the new era" with discussions considering ways to expedite Hong Kong's re-industrialisation efforts. In the session, Herbert Chia, Venture Partner of Sequoia Capital China, pinpointed the benefits of applying innovative technology from an investor's perspective.

Turning waste into gold for a circular economy

With investors increasingly looking to support the recycling sector, Shrikanth Narasimha, Director of Sustainability and Supply Chain, Far East, Mainetti (HK) Limited, detailed the development of closed-loop recycling of plastic materials and the use of blockchain in the recycling process. Meanwhile, Rachel Barr, Vice President of Sustainability from the Israeli start-up UBQ Materials, shared the firm's work to transform domestic waste into plastic products in collaboration with Mainetti (HK), while Ricci Wong, Founder and CEO of social enterprise HK Timberbank, explained how his start-up helps sort, cut, and dry damaged trees, recycling them into commercial timber and furniture.

Exhibiting innovations from emerging industries

The Entrepreneur Day exhibition also gathered more than 130 start-ups showcasing innovative products and technology as well as support services for the start-up ecosystem. The exhibition helped participants find business opportunities, secure professional advice and connect with potential business partners. The "Start-up Zone" showcased start-ups from a wide array of industry verticals ranging from medical and biotechnology products, green and food technology, to fintech and edtech. "The Boosters" featured organisations and government bodies supporting start-ups with the latest market insights and consulting services.

Start-up Express International – Fostering connections between local and global start-ups

To mark the 5th anniversary of "Start-up Express", a start-up incubation programme, the HKTDC will launch "Start-up Express International" tomorrow during Entrepreneur Day 2022 where ten international start-ups from countries including Belgium, Mainland China, Germany, Italy, Japan, Singapore, South Korea, Turkey, the United Kingdom and the United States with diverse technology backgrounds like health, education, smart cities, and agriculture, to blockchain, robo-technology, and marketing, will share their experiences together with the local winners of Start-up Express.

The HKTDC selected 30 international start-ups before choosing the final ten. Among those 30 international firms, many of which have won awards in the Mainland and overseas, are InxMed, a biotech company in Mainland China working on developing innovative therapies for tumour resistance and metastasis; inConAlert, a German healthtech company offering a wearable medical sensor; Mobbi, an Italian technology start-up that introduced the world's first portable power bank rental app; and SynCom Agritech, a Japanese agritech start-up. They all hope to contribute to solving livelihood, social and environmental problems through innovative business ideas and new technology.

The top 10 winners of the competition were: inContAlert from Germany, Contents.com from Italy, Closer Inc. from Japan, VegeSense; KnowCarbon; InxMed from Mainland China, OTECH (Otsuka Technology) from Singapore, AON from South Korea, MOBIQU from Turkey, and rThreat from the United States. The winning start-ups will gain access to marketing and technical support, as well as consulting services and concessionary rents by HKTDC, helping them set up a business presence in Hong Kong.

rThreat, one of the winning start-ups, said: "We would like to thank HKTDC for arranging Start-up Express International as it has allowed us a chance to learn from our peers from around the globe, establish business relationships and explore potential business partners."

The judging panel for Start-up Express International this year comprised Fred Li, Executive Director at Gobi Partners, Francis Pun, Promotions and Community Development Lead at Hong Kong Science and Technology Parks Corporation, and Clara Hong, Senior Manager of Ecosystem Development at Hong Kong Cyberport Management Company Limited.

Alongside Entrepreneur Day, the Business Intellectual Property of Asia Forum will be held from tomorrow to 2 December, serving as an ideal platform for global IP experts and business leaders to investigate the latest trends in the Asian IP market and look for opportunities.

Exhibition and Forum Website
– Entrepreneur Day: https://eday.hktdc.com/conference/eday/en
– Start-up Express International: https://portal.hktdc.com/startupexpress/en/s/start-up-express-international
– Photo download: https://bit.ly/3VI4VGh

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn.

Media enquiries
Please contact Hill+Knowlton Strategies:
Joyce Kwong, Tel: +852 6842 5929, Email: joyce.kwong@hkstrategies.com
Nannerl Yau, Tel: +852 6846 7888, Email: nannerl.yau@hkstrategies.com

HKTDC's Communications & Public Affairs Department:
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org

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AssetWise PCL (SET: ASW) continues partnership with Japan property giant Takara Leben

BANGKOK, Nov 30, 2022 – (ACN Newswire) – AssetWise PCL (SET: ASW), a leading real estate developer for lifestyle with the 'We Build Happiness' concept, announced its continued partnership with Japanese real estate giant Takara Leben to co-develop Kave Seed Kaset, a new campus condominium project valued at 1.35 billion baht on a high potential location along the commuter train route near Kasetsart University.



This development is testament to the confidence in the capabilities of AssetWise and in the project, combining Takata Lebun's credentials and expertise in the development of real estate projects with ASW's strength in meeting lifestyle needs through the creation of projects that fulfill the housing demand of Gen Z while providing good returns for investors.

Mr. Kromchet Vipanpong, Chief Executive Officer of AssetWise PCL, said that the Company continues to expand its business. The latest development being a joint venture agreement with Takara Leben, one of Japan's leading real estate developers coinvesting in the new condominium project, with AssetWise holding a 51 percent share and Takara Leben holding the remaining 49 percent to develop the Kave Seed Kaset campus condominium.

This project is a 600-unit condominium classified into 1-2-bedroom units with usable spaces of 22 to 47 square meters and starting prices of 1.89 million baht. The 1.35-billion-baht development is located in Soi Phaholyothin 34 near Kasetsart University, strikingly designed, modern and distinctive. ASW brings its experience as a lifestyle leader to the project, with more than 30 features in an expansive common area, meeting the demands of both students and office workers. This blends with Takara Leben's experience in project development to ensure the Kave Seed Kaset condominium completely meets the lifestyle needs of the new generation.

This joint venture with Takara Leben is their second co-developed condominium project after having jointly invested in a development in the Bangna area, pushing their co-developed projects to over 3,550 million baht. Notably, the KAVE brand campus condominiums have performed well due to clear market positioning aimed at Gen Z that perfectly matches the market demand, resulting in a strong response from members of the new generation and real estate investors.

"This joint venture with Takara Leben reinforces our partner's confidence in ASW's potential as the nation's leading lifestyle-focused property developer, along with our similar outlook regarding project development with the focus on creating happiness for our residents, as well as the Company's vision on business operations, that contains both expertise and understanding of market demand. The investment also reflects the strength of the KAVE brand, and its high potential. The Kave Seed Kaset project is located in an ideal location, and it is expected to generate good yield for real estate investors. Currently, sales for over 40 percent of the project value have been completed" Mr. Kromchet said.

Mr. Hiroshi Iwamoto, Director of Takara Leben Company Limited, explained Takara Leben was listed on the Japanese Stock Exchange (3492.T), and has a total revenue of 162,740 million yen, or approximately 41,631 million baht (as of March 2022). It has extensive experience in real estate development with over 500 projects under the brands Leben, The Leben, Nebel and Leben Platz. Moreover, the Company also has a power plant business and hotels in Japan. Currently, Takara Leben is expanding its real estate investment into the ASEAN region such as Thailand, Vietnam, etc.

"We recognize that the real estate business trend in Thailand has a great potential for growth, especially the condominium projects along commuter train lines and near educational institutions. With that in mind, the Company has decided to jointly invest with ASW to develop this second condominium project, to build on the success of our first jointly developed project in the Bangna area. We see ASW as a modern property developer that is determined to improve the quality of living to meet every lifestyle needs for every generation, which is in line with our vision," said Mr. Iwamoto.

In this regard, ASW operates a real estate development business by focusing on the development of high-rise and horizontal housing projects in high potential locations under the "We Build Happiness" Concept. Currently, more than 45 condominiums and housing projects have been developed by group brands, all designed to create happiness and to suit every lifestyle. These brands include KAVE, ATMOZ, MODIZ, ESTA, and THE HONOR. All the projects are valued at a total of more than 48,050 million baht, comprising 33 completed and ready-to-move-in projects, and 12 projects that are open for sale and under development. As of today, backlog awaiting realization of revenue has a total value of more than 9,218 million baht.

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

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Khun Pipop "Top", T: +66 (0) 81 929 8864, E: pipop.k@mtmultimedia.com

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AEON Credit Secures its Framework for Sustainability-Linked Loans, Strengthens and Advances its Sustainability Pledge

HONG KONG, Nov 30, 2022 – (ACN Newswire) – AEON Credit Service (Asia) Company Limited ("AEON Credit" or the "Group"; Stock Code: 00900) today announced that it has secured its sustainability-linked loan framework and entered agreements for three sustainability-linked loans (the "Loans"), with Mizuho Bank, Ltd., Hong Kong Branch, MUFG Bank, Ltd., Japanese Corporate Banking Division (Hong Kong) and Sumitomo Mitsui Banking Corporation, Hong Kong Branch, (the "Lenders"), with a total carrying amount of HK$320 million and a term of three years. The Loans are the Group's first sustainable financing initiative and strengthens its commitment to endorsing and developing in the sustainability arena.

Sustainability performance metrics have been set in accordance with AEON Credit's existing Sustainability Development Policy, and will be assessed on an annual basis by the external reviewer, the Hong Kong Quality Assurance Agency. As mutually agreed with the Lenders, the Group will be entitled to receive interest rate savings for the Loans as an incentive for the achievement of the predetermined sustainability-linked targets.

Mr. Tomoharu Fukayama, Managing Director of AEON Credit, said, "We are delighted to have arranged the Group's sustainability-linked loan framework for bank financing, which emphasizes our long-term commitment to the advancement of sustainable development. As the basis for AEON Credit's vision, mission and core values, we are well aware that responsible corporate practices are integral to assuring the betterment of the environment and society, as well as to creating additional long-term value for our shareholders and business partners.

"Through integrating sustainability-linked targets into the assessment of the Group's business and financial performance, we aim to reinforce the incorporation of sustainability practices into our operations so as to positively impact and contribute to the transformation of a greener and more sustainable capital market. Looking ahead, we will continue to proactively seek further opportunities to expand our sustainable financing portfolio and look forward to taking our stakeholders along on our sustainability journey."

About AEON Credit Service (Asia) Company Limited (Stock Code: 00900)
AEON Credit Service (Asia) Company Limited, a subsidiary of AEON Financial Service Co., Ltd. (TSE: 8570) and a member of the AEON Group, was set up in 1987 and listed on the Main Board of The Stock Exchange of Hong Kong Limited in 1995. The Group is principally engaged in the consumer finance business, which includes the issuance of credit cards and the provision of personal loan financing, card payment processing services, insurance agency and brokerage business in Hong Kong and microfinance business in Mainland China.

For more information, please visit the company's website at www.aeon.com.hk.


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Strong profile bodes well for PRI’s entry on the MAI (SET) today

BANGKOK, Nov 30, 2022 – (ACN Newswire) – Primo Service Solutions PCL (SET: PRI) debuts on the Market for Alternative Investment (MAI) today (30 Nov) by highlighting its outstanding provision of comprehensive real estate-related services.


PRI's business covers wide-ranging services to property developers and retail customers, while it is mapping out strategies to create new services to meet all living needs. The company also focuses on expanding investments in existing businesses and developing technology to boost service efficiency.

PRI recorded 156.02 million baht in net profit for the first nine months of this year, representing an increase of 128.17% from the same period last year.

Jatuporn Wilaikaew, Chief Executive Officer of PRI, is optimistic that PRI shares would be warmly received on the first trading day on the Stock Exchange of Thailand (SET). Her optimism is fuelled by PRI's strong fundamentals as a leading provider of comprehensive real estate-related services, before and after moving in, and after the sale of the property.

PRI's services are propelled by the adoption of modern technology with the PRIMO Plus application developed to connect and provide services to customers.

The company has also leveraged on customer bases from the Origin Property PCL and general customers which entered into long-term and occasional service contracts with PRI.

Those factors help securing revenue, generating continuous growth, and elevating the company as the leader in complete real estate solution provision with sustainable growth as planned.

The company's services come in three main business groups:
1. Pre-Living Services including consulting and construction supervision, architectural design services, structural engineering, and building systems.

2. Real estate management business (Living Services) such as juristic person management for condominiums, housing estates, and office buildings; real estate brokerage services, real estate management services for long-term rental, among others.

3. Real estate after-sales service business (Living & Earning Services) like home interior design and decoration services for condominiums and common areas of real estate projects; cleaning services for houses and common areas of real estates, office buildings, and factories; mechanic and haulage services

The company has a strategy to offer more diverse services to meet every living need in every rhythm of life under the slogan of 'At Your Service, Every Moment' and become the first brand of choice when it comes to services related to real estate.

The company is also planning to expand investments in businesses related to its core lines as a means to increase potential and strength in operations.

PRI is studying the possibility of expanding the business, giving importance to investment in technology development to increase convenience, speed, and efficiency in reaching target customers and better responding to customer needs.

PRI saw its revenues rising consistently over the past three years, from 255.69 million baht in 2019 to 266.51 million baht in 2020 before jumping to 489.56 million baht in 2021 – an average annual growth rate of 30.48%.

Likewise, its net profit rose from 34.52 million baht in 2019 to 40.05 million baht in 2020 and 111.25 million baht in 2021, an average growth of 74.09% per year.

For the first nine months of this year, PRI's revenue soared by 95.92% from the same period last year to 604.26 million baht, while net profit leaped 128.17% to 156.02 million baht. This was due to the continued strong performance of its three business lines.

The return on assets (ROA) for the first nine months of this year was 61.62% and the return on equity (ROE) was 81.20%.

Prasert Tantayawit, Managing Director of Asia Plus Advisory Co., Ltd. which serves as the financial adviser for PRI, noted that PRI is blessed with strong fundamentals with more than 11 years of experience in the business.

The company possesses a variety of strengths particularly being the first to provide a full range of real estate-related services, from start to finish, for developers of real estate projects and meeting the residential needs of retail customers.

That gives PRI competitive advantages and being able to differentiate itself from other players.

PRI has a customer base of real estate projects and retail customers of Origin Property, its parent firm which is one of the country's leading real estate developers and provides services to property projects and retail customers in general.

Moreover, its provision of a long-term service contract for customers has ensured a steady flow of revenue.

PRI's business operations will benefit from the overall recovery of the real estate business, the launch of many new projects, and the lifestyle of today's residents who want more convenience.

By listing on the MAI will allow funds for PRI to expand the current forms of business and technology development and for use as working capital, he added.

Yodrudee Santatikul, Executive Director of Asia Plus Securities Co., Ltd. which acts as the underwriter of IPR, said the IPR's initial public offering has been enthusiastically received by investors with the number of subscriptions surpassing the allotment.

As a result, the IPO price was closed at 15 baht per share, totaling 80 million shares, or 25% of the total issued and paid-up ordinary shares of the company.

The offering of newly issued ordinary shares was according to the target with a security value at the IPO price of 4,800 million baht.

PRI possesses good potential with outstanding growth performance for it being able to extensive services that meet the needs of customers which are real estate developers and retail customers in a one-stop service provision.

The continuation of its business expansion would also make PRI shares an investment of choice, she concluded.

For more information, visit https://primo.co.th [SET: PRI] [SET: PRI/F] [SET: PRI-R]
Released for Primo Service Solutions PCL by MT Multimedia Co Ltd
Thiyaporn Sriadunphan (Dah), T: +66 (0) 87 556 6974, E: thiyaporn.s@mtmultimedia.com

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Titan Projects 10x Business Growth in 2022 since Partnering with aCommerce in the Philippines

BANGKOK & MANILA, Nov 30, 2022 – (ACN Newswire) – As the first and only basketball specialty concept store in the Philippines, Titan started as a brick-and-mortar retail business in 2010. The retailer established stores in posh locations and around the metropolis, such as Bonifacio Global City, Megamall, Conrad, Vertis, Alabang, and Solenad.
Titan 22 – For Love of the Game


While a great part of its success can be attributed to its physical stores, the brand recognized the obvious opportunities of opening online stores. This prospect compelled Titan to become an e-commerce pioneer to open an online channel ahead of other industry players. The brand, however, needed internal expertise to operate a digital store. As a result, it chose to hand over its online business operations to a specialist e-commerce enabler, which provided guidance and expertise in the operations and logistics departments of running an e-commerce channel.

But like any other business, the company wanted to grow more, leading it to explore potential partners that could help it achieve more success.

aCommerce was initially referred to Titan in 2016 by the regional team of one of its biggest brand partners. To succeed in this area, the company believed that simply employing a service provider was not enough. It needed a committed and capable partner.

"TITAN saw aCommerce as not just a third-party service provider as an enabler, but as an overall key partner to grow within the long run," said Raymond Canteras, Titan's Digital Director.

Strategies for Success

One of TITAN's key priorities has always been to continuously innovate to provide consumers with the best experiences, whether online or offline. With the help of aCommerce, the brand launched its first mobile application in 2018, bringing it closer to consumers with just a flick and click on their mobile phones.

"By being deeply connected to the consumers, we get to understand them better and know how to serve them in the best and most seamless ways possible," Raymond Added.

The partnership also allowed aCommerce to rebuild and manage Titan's website Titan22.com and develop a fully customized mobile app until 2021. Today, aCommerce's role has evolved where it currently manages Titan's warehousing, logistics, last-mile fulfillment, and customer service line following established service level agreements.

The companies also embarked on several successful campaigns such as 11.11 and new activation or program rollouts, some of which have resulted in "single-day – or even just minutes – sell-outs of certain products with thousands of quantities".

Titan is particularly proud of the partnership's biggest success thus far when aCommerce provided expert support in 2020 as the Covid-19 pandemic exploded. The two entities working together enabled them to quickly serve the sudden burst in online demand and respond to the shift in consumer behavior.

"Every campaign we have collaborated in always had a lot of key takeaways that have helped and will continue to help us grow," adding that "despite all the challenges faced throughout that period, aCommerce was able to provide the best service levels the brand could ask for."

Filling the Gaps

Since partnering with aCommerce, Titan has consistently achieved significant growth in its e-commerce business year after year. On its first full year with aCommerce in 2017, the brand's digital business grew by 50% from the previous year. And now, six years later, the company projects to grow more than 10x bigger from the collaboration's launch in 2016.

This only demonstrates how Titan's customers consistently enjoy high excellence in services rendered by aCommerce 99% of the time each month. The Titan22.com website has also established itself as a highly reliable channel in the country, from user experience to last-mile order fulfillment.

"Titan's vision is to empower the hoop dreams of athletes around the world. With the help of aCommerce, the brand can reach every part of the country".

Future of the Partnership

Even while the retail business landscape and consumer behavior continue to shift, Titan attributes the partnership's success to the masterful way both companies worked together, adapted, and responded quickly to provide the best service levels possible to customers.

"Effective and efficient collaboration is very critical to the success of the partnership. Both sides have made the necessary investments to grow. There's still a lot more games to win together in the future," said Henrika Fellizar, aCommerce Philippines Chief Executive Officer. "With the expertise, both parties have in the retail industry and e-commerce, we expect the partnership to keep growing."

About aCommerce

aCommerce is the leading end-to-end ecommerce enabler in Southeast Asia. We drive brands to achieve their ecommerce goals with high-performance digital marketing, online store development & management, data & analytics, customer care, fulfillment, and delivery services. The aTeam, our 700+ staff across the region is dedicated to providing seamless integration between offline & online, with 5 fulfillment centers driving global leading clients to e-commerce success. Visit https://acommerce.asia.

Released for aCommerce Group by MT Multimedia Co Ltd
Wasana Wongsiri (Jiab), T: +66 84 359 0659, E: wasana.w@mtmultimedia.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Wintermar Offshore (WINS:JK) Acquires 2 Additional AHTS and Celebrates the 12th Anniversary of Listing on IDX

JAKARTA, Nov 30, 2022 – (ACN Newswire) – PT Wintermar Offshore Marine Tbk (WINS:JK), has acquired 2 units of 7000BHP Anchor Handling Tug Supply (AHTS), to be named SMS Sonnet and SMS Stanza. The two AHTS will be delivered by December 2022, are ABS classed and have DP1 and FiFi1 capability, and expected to be utilized from 1Q2023.

Including these two vessels, Wintermar has added 8 vessels to the fleet for the year 2022, comprising 1 unit Platform Supply Vessel (PSV), 2 units 5000BHP AHTS, 1 unit 6000BHP AHTS and this latest addition of two units of 7000BHP AHTS, for a total capex of US$ 12 million.

With this latest purchase, Wintermar's fleet will be increased the fleet to 41 Vessels by end December 2022. The Company is positioning for strong growth in the current environment of higher global OSV demand and is optimistic that charter rates will continue to rise in 2023.

Wintermar's 12th IPO anniversary

Today also marks the Company's 12th IPO anniversary, as Wintermar's shares were first listed on the IDX on November 29, 2010. Upon listing, the Company's fleet comprised 59 vessels of which 40 were low tier comprising of small tugs and barges, landing crafts and crew boats, while only 2 units were high tier vessels comprising Platform Supply Vessels (PSVs).

In the following years since IPO, Wintermar has grown and transformed into an international operator of Offshore Supply Vessels with high quality DP2 vessels and a strong international client base. Of the 41 vessels in the fleet by end 2022, only 1 unit is in the low tier vessel category and 11 units are high tier vessels.

As at the end of October 2022, the total remaining contracts on hand amount to US$69.4 million.

About Wintermar Offshore Marine Group

Wintermar Offshore Marine Group (WINS.JK), developed over nearly 50 years with a track record of quality that is both a source of pride and responsibility that we are dedicated to upholding, and sails a fleet of more than 48 Offshore Support Vessels ready for long term as well as spot charters. All vessels are operated by experienced Indonesian crew, tracked by satellite systems and monitored in real-time by shore-based Vessel Teams.

Wintermar is the first shipping company in Indonesia to be certified with an Integrated Management System by Lloyd's Register Quality Assurance, and is currently certified with ISO 9001:2015 (Quality), ISO14001:2015 (Environment) and OHSAS 18001:2007 (Occupational Health and Safety). For more information, please visit www.wintermar.com.

For further information, please contact:
Ms. Pek Swan Layanto, CFA
Investor Relations
PT Wintermar Offshore Marine Tbk
Tel (62-21) 530 5201 Ext 401
Email: investor_relations@wintermar.com

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