Bintai Kinden Expands Further into O&G

PETALING JAYA, Malaysia, Jan 3, 2023 – (ACN Newswire) – Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998), a mechanical and electrical (M&E) engineering services specialist, is pleased to announce that the Company's 51%-owned sub-subsidiary, Bintai Energy Sdn Bhd ("BESB"), has been awarded a series of subcontracts by Petro Flanges & Fittings Sdn Bhd (PFF) and various customers recommended by PFF, involving the supply of high-grade carbon steel/stainless steel piping, valves and piping accessories to various oil and gas (O&G) businesses valued at RM4.0 million.

Executive Director of Bintai Kinden, En. Azri Azerai

The value of accumulated subcontracts secured through PFF in which BESB is the identified special purpose vehicle for the supply of materials to the O&G industry is now RM12.9 million. PFF is a supplier of pipes, flanges, fittings, valves and other O&G-related equipment.

In a separate announcement, the Company is also pleased to note that BESB has received approved licenses as dealers of instrumentation cables and general cables in relation to power and control from Petronas. The licenses are effective from 11 August 2022 to 10 August 2025.

Bintai Kinden also announced that BESB is partnering Puncak Logam Sdn Bhd (PLSB), whose principal business is the trading and marketing of goods, to ensure faster delivery time of products to clients through storing its products, which includes pipe, fittings, flanges, gaskets, stud bolts and structure materials and any other goods in PLSB's facility while enabling PLSB to source for purchasers in Malaysia for these products.

En. Azri Azerai, Executive Director of Bintai Kinden said, "The latest award of subcontracts to BESB is part of the partnerships and tie-ups we are pursuing to grow our O&G-related business. This includes seeking opportunities and partnerships with companies that share the same vision as Bintai Kinden, in Southeast Asia. We are now expanding into Indonesia through a local partner in the country. We are also delighted with the award of the licenses by Petronas enabling us to supply products and services to O&G businesses in Malaysia. This will certainly be a boost to our O&G arm."

En. Nuraiman bin Shaiful Annuar, Director of Bintai Energy said, "The partnership with PLSB is strategic to the growth of our O&G-related business because we believe logistics will be important in the supply-chain. It will ensure that products get to clients faster and also at the same time, PLSB will help us to market the products in Malaysia."

En. Amli Mohamed Amin, Managing Director of PLSB said, "Our partnership with BESB ensures that there are always an inventory of O&G products on-hand that can be shipped out to clients. Given the uncertainties related to the global supply chain, our facility offers a stock of ready supply while at the same time, we can help market these products through our network of clients."

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

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

Bintai Kinden Awarded RM39 Million Project from TNB

PETALING JAYA, Malaysia, Nov 25, 2022 – (ACN Newswire) – Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998), a mechanical and electrical (M&E) engineering services specialist, is pleased to announce that the Company's wholly-owned subsidiary, Kejuruteraan Bintai Kindenko Sdn Bhd (KBK), has been awarded a project worth RM39.0 million for the installation of a 132kV underground cable double circuit from Tenaga Nasional Berhad (TNB).

En. Azri Azerai, Executive Director of Bintai Kinden

The project's scope of work involves installing a new 132kV XLPE cable system from the PMU Financial Centre to the GDS Data Centre Substation located in Nusajaya, Johor. The new XLPE cable comprises two circuits, and three phases, with one cable of 1600mm2 copper per phase.

KBK, a specialist in M&E engineering services, has 319 days from commencement to complete the project.

En. Azri Azerai, Executive Director of Bintai Kinden said, "The Company continues to make progress in seeking more projects leveraging on its expertise and experience in M&E engineering services including design, installation and commissioning. This latest project award from TNB reflects the opportunities stemming from the growth momentum in the economy."

"We are also committed to growing our range of expertise and are constantly looking to diversify as we transform to become a conglomerate through investing in unique and niche businesses with huge earnings accretive potential."

Past TNB projects in which Bintai Kinden has been involved in include the 132kV Kuchai Lama switching station, 132kV MRT Bukit Serdang switching station, 132kV single-circuit underground cable from PMU Galloway to PMU KLCC2 and, 132kV bulk supply connection to KTMB Sentul feeder station.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

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

Bintai Kinden Revenue Increased 136% in 2Q FY2023

PETALING JAYA, Malaysia, Nov 24, 2022 – (ACN Newswire) – Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998), a mechanical and electrical (M&E) engineering services specialist, today announced that the Company registered a 136.6% increase in revenue to RM40.56 million for the second quarter ended 30 September 2022 (2Q FY2023) compared with RM17.14 million in 2Q FY2022 mainly due to higher contribution from M&E projects recovering from the negative impact of the COVID-19 pandemic.

Executive Director of Bintai Kinden, Azri Azerai

For the quarter under review, the Company's profit before tax (PBT) recorded a decline to RM193,000 compared with RM244,000 in 2Q FY2022 mainly due to higher cost. Gross profit margin for 2Q FY2023 stood at 15.35% compared with 43.06% in 2Q FY2022 after taking into account contribution by variation order of completed projects of the M&E business.

Bintai Kinden registered a 142.94% rise in revenue of RM71.44 million for the six months ended 30 September 2022 (1H FY2023) compared with RM29.41 million in the corresponding period of the previous financial year. PBT for 1H FY2023 declined to RM1.16 million compared with RM1.50 million reported in 1H FY2022.

En. Azri Azerai, Executive Director of Bintai Kinden said, "We consider the continuing growth in economic activities following two years of lockdowns as a positive sign for more opportunities in M&E engineering services in Malaysia and Southeast Asia where our focus remains. The growth in revenue in the quarter under review is proof of the continuing recovery which we do not take for granted as we assess the risks and opportunities to grow as an investment conglomerate by taking stakes in unique and niche businesses with huge potential."

"We are actively looking for more earnings accretive acquisitions. We are diversifying into the provision of telecommunication services to healthcare centres through a strategic venture under our indirect subsidiary, Johnson Medical International Sdn Bhd (JMI) that we announced earlier in November. We are also leveraging on JMI's healthcare solutions and medical support systems expertise to explore the Middle East, which is a growing market. Through our 51%-owned Bintai Energy Sdn. Bhd., we are in a partnership distributing flanges and other related piping products in Indonesia for oil and gas (O&G) projects."

Bintai Kinden's total orderbook is RM109.92 million, with RM102.43 million from M&E projects and RM7.49 million from O&G projects.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

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

Apeiron Bioenergy secures equity investment from Proterra Investment Partners Asia to solidify upstream capabilities

Singapore, Oct 6, 2022 – (ACN Newswire) – Apeiron Bioenergy has entered into an equity investment agreement with Proterra Investment Partners Asia. The proceeds will be used to increase the number of collection points and upgrade existing processing plants to produce feedstocks of higher specifications.

"Considering the extremely tough macro environment now, it is a testament for Apeiron Bioenergy to weather such conditions and successfully fundraise," said Chris Chen, Co-founder at Apeiron Bioenergy. "Investors believe in our business fundamentals and our vision for decarbonization. We look forward to increasing collection of used cooking oil to make an even stronger environmental and social impact."

Apeiron Bioenergy has recently closed a separate equity financing round from Mitsui Chemicals. Both investments are set to position Apeiron Bioenergy for exponential growth amidst growing demand for renewable feedstock for advanced biofuels.

Exponential Growth Ahead

The global biofuel industry is projected to significantly increase by 2025 — compared to 2020, it is expected to triple in Asia, grow six-fold in the U.S. and three-fold in Europe, according to a January 2021 assessment by Greenea (https://bit.ly/3SHtYYM), a broker and consultant specializing in waste-based feedstock and biodiesel.

A leading integrated player and solutions provider in the bioenergy space, Apeiron Bioenergy, collects and processes a range of renewable feedstocks including used cooking oil (UCO), palm oil mill effluent (POME) and acts as a critical exporter across an ever-expanding Asian market. Over the past 15 years, Apeiron Bioenergy has built its presence in over 10 countries and collected more than 500 million litres of UCO between 2017-2021, offsetting an estimated 1.5 million tonnes of carbon emissions.

"Together with Apeiron, we can help organize and upcycle food waste streams across Asia and in the process support advanced biofuel development globally," said Tai Lin, Managing Partner of Proterra Investment Partners Asia. "This investment will open up collaboration opportunities for our food and farming portfolio and create some of the positive impacts that everyone is talking about."

In addition, further avenues for strategic collaboration will be made possible with Proterra Investment Partners Asia, whose food and agricultural investment management expertise and upstream connections will fast-track growth.

Industry Support

Apeiron Bioenergy has had a busy year. In May, the company received a green loan from HSBC as part of the Enterprise Financing Scheme – Green under Enterprise Singapore. This is the bank's first EFS green loan processed under a Streamlined Certification Process to provide enterprises with simpler access to sustainable financing.

"We are grateful for the industry support which will allow us to build a collaborative community to resolve supply chain inefficiencies with Apeiron Bioenergy's multicultural and muti-jurisdictional strategy," said Richard Huang, Co-founder at Apeiron Bioenergy. "At Apeiron Bioenergy, our vision is to reduce carbon emissions across the land, sea and air transportation spaces with an efficient supply of biofuels."

For all media queries, please contact:
Chi-an Chang
Financial PR
T: 6438-2990
E: chi-an@financialpr.com.sg

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

Bintai Kinden Shareholders Approves All Resolutions at 28th AGM

PETALING JAYA, Malaysia, Sep 15, 2022 – (ACN Newswire) – Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998), a mechanical and electrical (M&E) engineering services specialist, is pleased to announce that shareholders have approved all resolutions at the 28th Annual General Meeting (AGM) of the Company held today on a virtual platform.

Azri Azerai, Executive Director of Bintai Kinden

Shareholders passed the resolution to receive the audited financial statements for the financial year ended 31 March 2022 (FY2022) as well as to re-elect Ooi Jit Huat and Mohd Shakir Shahimi, the directors who were retiring in accordance with Clause 8 of the Company's constitution. Directors retiring in accordance with Clause 113 of the Company's constitution, Mohd Idzwan Izuddin Datuk Ab Rahman and Ku Chong Hong, who, being eligible, had offered themselves for re-election, were also re-elected.

The resolution to allow the board of directors the authority to allot and issue shares that does not exceed 10% of the total issued shares of the Company at the time of the issue to be in force up to the conclusion of the next AGM was also approved by shareholders. In addition, shareholders also waived statutory pre-emptive rights to be offered Bintai Kinden shares ranking equally to existing issued shares in accordance with Section 85 of the Companies Act, 2016 and with Clause 52 of the Company's constitution.

Messrs. HLB Ler Lum Chew PLT was also appointed as the auditors of Bintai Kinden and shareholders authorised the directors to fix their remuneration. Other resolutions passed included the payment of directors' fee amounting to RM108,000 for FY2022 and approving directors' other benefits payable up to an amount of RM10,000 from 16 September 2022 to the next AGM of the Company.

Azri Azerai, Executive Director of Bintai Kinden said, "We would like to thank shareholders for their continued support and confidence in us. We will endeavour to ensure that their interests as well as the interest of other stakeholders are safeguarded as we work to grow the business."

"While the global economic outlook is increasingly challenging, we will continue to leverage on our core M&E engineering expertise to seek opportunities in Malaysia and around the region. We have in recent months also explored the Middle East market, a region with a lot of potential given the growing population and expanding economic activities."

At the AGM, shareholders also voiced their concerns over arrears totalling RM42.0 million owed by Kolej Teknologi Islam Melaka Berhad (KTIMB) to Bintai Kinden's wholly-owned subsidiary, Optimal Property Management Sdn Bhd (OPM) for the construction and operation of the student accommodation at Kolej Universiti Islam Melaka (KUIM), now known as Universiti Melaka (UNIMEL).

OPM completed the construction of the UNIMEL student accommodation in 2019. KTIMB had awarded a 25-year concession in 2016 to OPM to construct and operate the student accommodation at the then KUIM but to-date, OPM has received only a portion of the concession fees for operating the student accommodation and has been forced to use its own funds.

Bintai Kinden's orderbook covering M&E and oil and gas (O&G) projects currently total RM120.43 million. The Company was recently granted approval for a license by Petroliam Nasional Berhad (Petronas) under the Standardised Work and Equipment Categories Code, to bid for O&G projects that come under Petronas.

About Bintai Kinden Corporation Berhad

Bintai Kinden Corporation Berhad is a multidisciplinary building and industrial service engineering outfit founded in 1973. The Company has designed, installed and commissioned systems that include the full range of engineering services for commercial buildings to industrial complexes. Headquartered in Malaysia, Bintai Kinden has worked on projects in Southeast Asia, China and the Gulf region of the Middle East. For more information, visit bintai.com.my.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

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

Apeiron Bioenergy closes equity investment from Mitsui Chemicals, poised to capture exponential growth in bioenergy market with Pan-Asian presence

SINGAPORE, Aug 31, 2022 – (ACN Newswire) – Apeiron Bioenergy has successfully closed an equity financing round from Mitsui Chemicals. The funds will support Apeiron to increase its collection capacity for waste-based feedstocks across Asian markets and position the company for exponential growth amidst growing demand for renewable feedstock for advanced biofuels such as sustainable aviation fuel (SAF).

From left: Chris Chen, Managing Director, Apeiron Bioenergy; Tadashi Yoshino, Representative Director, Mitsui Chemicals

According to the International Energy Agency , global demand for renewable diesel is set to more than double, or by 11 billion litres, over the next five years. The demand mainly stems from government regulations in the US and the EU as established in the decarbonisation targets by COP26. However, the planned capacity is set to outpace domestic feedstock supply significantly, and production must keep up with the climate emergency – where will the additional feedstock come from?

A leading integrated player and solutions provider in the bioenergy space, Apeiron Bioenergy, collects and processes a range of renewable feedstocks including used cooking oil (UCO) and palm oil mill effluent (POME) acts as a critical exporter across an ever-expanding Asian market. Over the past 15 years, Apeiron Bioenergy has built its presence in over 10 countries and collected more than 500 million litres of UCO between 2017-2021, offsetting an estimated 1.5 million tonnes of carbon emissions.

"Zero Carbon emissions is one of our strategic targets by 2050. As one of Japan's leading chemical companies, our investment in Apeiron is our way of contributing to solving the world's future environmental issues," said Tadashi Yoshino, Representative Director, Managing Executive Officer, Mitsui Chemicals. "Apeiron Bioenergy has a proven track record of aggregating renewable feedstock and streamlining the supply chain across Asia. We are delighted to invest in the company as it aligns with our sustainability goals."

Apeiron Bioenergy's access to diversified sources and networks of feedstock and relationships with downstream customers means it is in an excellent position to access and supply downstream by-products for Mitsui Chemicals to help achieve its net zero targets.

With Mitsui Chemicals serving as a strategic investor, Apeiron Bioenergy will be well-positioned to meet the substantial rise in demand for biofuels by ramping up its capacity of collection points and processing facilities through both organic and inorganic growth. The company is actively seeking to acquire or collaborate with local collectors of sustainable feedstocks in the Asian markets.

"Tackling supply chain issues in Bioenergy across Asia requires a community-focused, collaborative approach – our seasoned management team has proven that we can resolve supply chain inefficiencies with our multicultural and multi-jurisdictional strategy," said Chris Chen, Managing Director of Apeiron Bioenergy. "We will be ramping up our collection capability, collaborating closely with our downstream partners to resolve the wider sustainability problem of reducing carbon emissions across the land, sea and air transportation spaces."

For all media queries, please contact:
Chi-an Chang
Financial PR
T: +65-6438-2990
E: chi-an@financialpr.com.sg

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

Bintai Kinden Posts 152% Rise in Revenue for 1Q

PETALING JAYA, Malaysia, Aug 26, 2022 – (ACN Newswire) – Mechanical and electrical (M&E) engineering services specialist Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998) today announced that the Company registered a 152.0% increase in revenue to RM30.88 million for the first quarter ended 30 June 2022 (1Q FY2023) compared with RM12.26 million in the corresponding quarter of the previous financial year (1Q FY2022) mainly due to higher contribution from M&E engineering business.

En. Azri Azerai, Executive Director of Bintai Kinden

Bintai Kinden reported a profit after tax (PAT) of RM968,000 for the quarter under review, which is 23.0% lower than the PAT of RM1.25 million recorded in 1Q FY2022 as gross profit margin decreased to 16.45% from 30.0% after taking into account variation orders from completed M&E projects.

The Company's M&E engineering business contributed RM26.43 million for 1Q FY2023, which is an increase of 203.72% compared with RM8.7 million in 1Q FY2022. The concession business brought in RM3.6 million, a marginal increase compared with RM3.55 million. Bintai Kinden operates the entire in-campus accommodation for Universiti Melaka as part of a 25-year concession from Kolej Teknologi Islam Melaka Berhad (KTIMB). As of 31 March 2022, KTIMB owes Bintai Kinden an outstanding sum of RM30.18 million from the concession.

En. Azri Azerai, Executive Director of Bintai Kinden said, "We will continue to leverage on our core M&E engineering specialisation to seek opportunities in Malaysia and around the region. The surge in economic activities following the previous two years of intermittent lockdowns due to COVID-19 will definitely have positive spillover effects."

"Through our indirect subsidiary, Johnson Medical International Sdn Bhd, we have a niche as a turnkey solutions provider of mobile, modular and offsite engineered healthcare infrastructure that we intend to expand and in which our M&E engineering services can also benefit. Through our 51%-owned subsidiary, Bintai Energy Sdn Bhd, we have been busy exploring opportunities to distribute flanges and other related piping products, the latest of which is a business collaboration agreement with PT Raintech Indo Energi."

Bintai Energy has also recently been granted approval for a license by Petroliam Nasional Berhad under the Standardised Work and Equipment Categories Code, to bid for oil and gas (O&G) projects that come under Petronas. Bintai Kinden's orderbook covering M&E as well as O&G projects total RM120.43 million.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

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

WeR1’s Client SGX-Listed Sasseur REIT Wins Top IR Award For Second Consecutive Year

Singapore, 30 September 2020 – Singapore Exchange (“SGX”) Mainboard-listed Sasseur Real Estate Investment Trust (“Sasseur REIT”), a client of investor relations (“IR”) specialist WeR1 Consultants Pte Ltd (“WeR1”), has been named Platinum winner for IR at the Asia Pacific Best of the Breeds REITs Awards™ 2020. This is the second consecutive year that Sasseur REIT has secured top IR ranking, having won the Gold award in 2019.

Sasseur REIT, which has been a retained client of WeR1 since 2019, secured a total of three awards at the annual event this week. The other two are Platinum Awards for Best Retail REIT and for Best CEO – also for the second year running. All 2019 and 2020 awards received by Sasseur REIT are for REITS under U$1 billion in market value.

The Platinum IR award cited Sasseur REIT’s prompt and informative communication of information to stakeholders, media and the community. Listed in March 2018, Sasseur REIT continues to report its financial performance on a quarterly basis. It has maintained a high level of engagement through regular virtual briefings even after the outbreak of the COVID-19 pandemic.

Sasseur REIT closed its four retail outlet malls in China for several weeks in the early days of the pandemic. The closures coincided with falls in global stock markets in March 2020 and concerns about how retail REITs may be impacted by health concerns and changes to shopping trends.

After the release of Sasseur REIT’s Q1 2020 results, WeR1 worked with the management team to explain how it aligned the interests of mall owner, merchants and REIT holders. This mitigated the impact of the temporary mall closures on various stakeholders.

WeR1 worked closely with management to engage sell-side and buy-side (including remisiers serving retail investors) on Sasseur REIT’s unique ‘A x 1+N x DT’ formula which enshrines Sasseur REIT’s commitment to refresh mall concepts regularly to keep attracting foot traffic.

KGI Securities issued a fresh research report with an Outperform call, raising the number of sell-side coverage of the REIT to five. WeR1 also organised a virtual briefing between Sasseur REIT’s management and over 20 KGI brokers on 15 July 2020, as well as a webinar with Phillip Securities which attracted over 100 participants.

As a result of the efforts to explain the decisive response to the pandemic, Sasseur REIT received significant media coverage in 2020.

Bloomberg ran a commentary which mentioned how Sasseur REIT managed the landlord-tenant relationship differently. The Edge of Singapore carried an in-depth piece on this subject based on interviews with management. The coverage followed a prominent interview in 2019 of Sasseur’s founder and Chairman Mr Vito Xu who was featured in the “In Good Company” column of The Straits Times of Singapore.

Anthony Ang, CEO of Sasseur REIT, said: “We were very happy to receive the significant coverage, as well as the awards for the second consecutive year; Sasseur REIT has been working hard to achieve a swift recovery once lockdown measures in China were lifted, and a strong media strategy gave Sasseur REIT’s investors and analysts renewed confidence in our recovery.”

“We are also pleased to have WeR1 working alongside us to ensure our key differentiators were clearly and swiftly communicated, going the extra mile to offer strong media angles that were in-depth and engaging.”

Mr Lai Kwok Kin, Managing Director of WeR1, said: “The COVID-19 presented challenges as well as opportunities to position Sasseur REIT positively to the media and investment community. We are honoured to support the excellent and committed management team of Sasseur REIT, and are elated by successive awards they have secured.”

About WeR1 Consultants

WeR1 Consultants is a pan-Asian communications specialist in Investor Relations, Tech PR, Crisis Communications and Litigation PR based in Singapore. Our service is distinguished by a high level of strategy led by senior consultants with decades of experience in media, capital markets and communications. For more information on WeR1, please visit https://wer1.net/

About Sasseur REIT

Sasseur REIT is the first outlet mall REIT listed in Asia. Sasseur REIT offers investors with the unique opportunity to invest in the fast-growing retail outlet mall sector in the People’s Republic of China (the “PRC”) through its initial portfolio of four quality retail outlet mall assets strategically located in fast-growing cities in China such as Chongqing, Kunming and Hefei, with a net lettable area of 312,844 square metres.

Sasseur REIT is established with the investment strategy of investing principally, directly or indirectly, in a diversified portfolio of income-producing real estate which is used primarily for retail outlet mall purposes, as well as real estate-related assets in relation to the foregoing, with an initial focus on Asia. For more information on Sasseur REIT, please visit https://www.sasseurreit.com

WeR1’s Client SGX-Listed Sasseur REIT Wins Top IR Award For Second Consecutive Year

SINGAPORE, Sep 30, 2020 – (ACN Newswire) – Singapore Exchange ("SGX") Mainboard-listed Sasseur Real Estate Investment Trust ("Sasseur REIT"), a client of investor relations ("IR") specialist WeR1 Consultants Pte Ltd ("WeR1"), has been named Platinum winner for IR at the Asia Pacific Best of the Breeds REITs Awards(TM) 2020. This is the second consecutive year that Sasseur REIT has secured top IR ranking, having won the Gold award in 2019.

Sasseur REIT, which has been a retained client of WeR1 since 2019, secured a total of three awards at the annual event this week. The other two are Platinum Awards for Best Retail REIT and for Best CEO – also for the second year running. All 2019 and 2020 awards received by Sasseur REIT are for REITS under U$1 billion in market value.

The Platinum IR award cited Sasseur REIT's prompt and informative communication of information to stakeholders, media and the community. Listed in March 2018, Sasseur REIT continues to report its financial performance on a quarterly basis. It has maintained a high level of engagement through regular virtual briefings even after the outbreak of the COVID-19 pandemic.

Sasseur REIT closed its four retail outlet malls in China for several weeks in the early days of the pandemic. The closures coincided with falls in global stock markets in March 2020 and concerns about how retail REITs may be impacted by health concerns and changes to shopping trends.

After the release of Sasseur REIT's Q1 2020 results, WeR1 worked with the management team to explain how it aligned the interests of mall owner, merchants and REIT holders. This mitigated the impact of the temporary mall closures on various stakeholders.

WeR1 worked closely with management to engage sell-side and buy-side (including remisiers serving retail investors) on Sasseur REIT's unique 'A x 1+N x DT' formula which enshrines Sasseur REIT's commitment to refresh mall concepts regularly to keep attracting foot traffic.

KGI Securities issued a fresh research report with an Outperform call, raising the number of sell-side coverage of the REIT to five. WeR1 also organised a virtual briefing between Sasseur REIT's management and over 20 KGI brokers on 15 July 2020, as well as a webinar with Phillip Securities which attracted over 100 participants.

As a result of the efforts to explain the decisive response to the pandemic, Sasseur REIT received significant media coverage in 2020.

Bloomberg ran a commentary which mentioned how Sasseur REIT managed the landlord-tenant relationship differently. The Edge of Singapore carried an in-depth piece on this subject based on interviews with management. The coverage followed a prominent interview in 2019 of Sasseur's founder and Chairman Mr Vito Xu who was featured in the "In Good Company" column of The Straits Times of Singapore.

Anthony Ang, CEO of Sasseur REIT, said: "We were very happy to receive the significant coverage, as well as the awards for the second consecutive year; Sasseur REIT has been working hard to achieve a swift recovery once lockdown measures in China were lifted, and a strong media strategy gave Sasseur REIT's investors and analysts renewed confidence in our recovery."

"We are also pleased to have WeR1 working alongside us to ensure our key differentiators were clearly and swiftly communicated, going the extra mile to offer strong media angles that were in-depth and engaging."

Mr Lai Kwok Kin, Managing Director of WeR1, said: "The COVID-19 presented challenges as well as opportunities to position Sasseur REIT positively to the media and investment community. We are honoured to support the excellent and committed management team of Sasseur REIT, and are elated by successive awards they have secured."

About WeR1 Consultants

WeR1 Consultants is a pan-Asian communications specialist in Investor Relations, Tech PR, Crisis Communications and Litigation PR based in Singapore. Our service is distinguished by a high level of strategy led by senior consultants with decades of experience in media, capital markets and communications. For more information on WeR1, please visit https://wer1.net/

About Sasseur REIT

Sasseur REIT is the first outlet mall REIT listed in Asia. Sasseur REIT offers investors with the unique opportunity to invest in the fast-growing retail outlet mall sector in the People's Republic of China (the "PRC") through its initial portfolio of four quality retail outlet mall assets strategically located in fast-growing cities in China such as Chongqing, Kunming and Hefei, with a net lettable area of 312,844 square metres.

Sasseur REIT is established with the investment strategy of investing principally, directly or indirectly, in a diversified portfolio of income-producing real estate which is used primarily for retail outlet mall purposes, as well as real estate-related assets in relation to the foregoing, with an initial focus on Asia. For more information on Sasseur REIT, please visit https://www.sasseurreit.com

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Rykadan Capital Proposes Stock Buy-back of Up to 102,000,000 Shares at Offer Price of HK$0.68 Per Share, Equivalent to 51.11% Premium over the Closing Price on the Last Trading Day

HONG KONG, Sep 29, 2020 – (ACN Newswire) – Rykadan Capital Limited ("Rykadan Capital" or the "Company", together with its subsidiaries the "Group"; stock code: 2288) just announced that Dongxing Securities (Hong Kong) Company Limited will make a conditional cash offer (the "Offer") on behalf of it to the Shareholders to buy back up to 102,000,000 of the Company's issued shares (the "Shares") at an Offer Price of HK$0.68 per share (the "Offer Price"). Upon completion, all Shareholders are expected to benefit from the increase in consolidated net asset value per Share. Following the closing of the Offer, the Group intends to maintain its listing on The Stock Exchange of Hong Kong Limited ("SEHK").

The 102,000,000 Shares proposed in the stock buy-back represents approximately 21.36% of the Shares in issue as at the date of the Announcement. The Offer Price of HK$0.68 per Share represents a premium of 51.11% over the closing price of HK$0.45 as quoted on SEHK on 15 September 2020 (the "Last Trading Day"), or a premium of approximately 55.55% over the average closing price of the Shares during the last 30 consecutive trading days immediately prior to and including the Last Trading Day. The aggregate cash consideration payable under the Offer (if the maximum number of Shares are bought back) will amount to approximately HK$69,360,000.

The price of the Shares has historically been traded at a significant discount to the Group's net asset value attributable to owners of the Company per Share. Taking the closing price of the Shares of HK$0.45 on the Last Trading Day as a reference, the discount to the Group's net asset value attributable to owners of the Company of approximately HK$2.77 per Share as at 31 March 2020 was as high as approximately 83.77%.

Premium valuation: The Offer provides an opportunity for the Shareholders to sell their Shares at a premium to the prevailing market prices of the Shares and receive cash proceeds in return. In particular, the closing price of the Shares has never exceeded the Offer Price after 27 September 2019 for almost 12 months. The Offer Price represents a premium of approximately 55.55% over the average closing price during the last 30 trading days immediately prior to and including the Last Trading Day.

Certain and immediate value: The Shares have been traded on the SEHK at an average daily trading volume of approximately 71,397 Shares for the six months up to and including the Last Trading Day, representing less than 0.02% of the total issued Shares as at the Last Trading Day. The Offer presents an immediate opportunity for the Shareholders to dispose of their Shares, not be constrained by trading liquidity, and exit their investment for cash proceeds.

Mr William Chan, Chairman and Chief Executive Officer of Rykadan Capital, said, "Over the past years, the shares of the Company have been trading at a steep discount to its consolidated net asset value. By repurchasing such maximum number of Shares from the market, the Offer will enable our Shareholders to immediately realise cash returns."

About Rykadan Capital Limited (Stock code: 2288)
Rykadan Capital Limited is a Hong Kong-based investment holding company. The Group operates and invests in real estate development, real estate investment, distribution of building materials and asset, investment and fund management. For more information, please visit www.rykadan.com.

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