Tag: Construct

SCIB Granted RM16.8 Million Contract for School Construction

KUCHING, MALAYSIA, Mar 28, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company's wholly owned subsidiary, SCIB Industrialised Building System Sdn. Bhd. (SCIBIBS), has been awarded an engineering, procurement, construction and commissioning (EPCC) subcontract valued at RM16.8 million from Majestika Sdn. Bhd.
Group Managing Director and Chief Executive Officer of SCIB, Rosland bin Othman


Majestika, the main contractor for the project, awarded the EPCC subcontract to SCIBIBS with a duration of 14 months for the construction of a school, Sekolah Kebangsaan Tambay, in Kota Samarahan, Sarawak.

Group Managing Director of SCIB, Encik Rosland bin Othman said, "We are pleased to announce that this project comes on the heels of having been awarded a project to rebuild a school in Serian, Sarawak that was announced earlier in the month valued at RM20.65 million. Our strengths and focus on small-to-mid-sized rural infrastructure projects have enabled us to build a strong portfolio that we can leverage on when seeking such projects."

"SCIB offers EPCC services that are supported by our manufacturing arm, which is the leading precast concrete and IBS manufacturer in East Malaysia. We are actively pursuing projects for dilapidated schools in Sarawak and Sabah, which have been allocated RM920 million. This is on top of bidding for projects in both states, which have been allocated RM5.6 billion and RM6.5 billion respectively under the re-tabled Budget 2023."

The Company's share price as of 28 March 2023 is 0.125 sen with a market capitalisation of RM72.8 million. SCIB has an order book of RM388 million as of March 2023.

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

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

BuildTech Asia 2023 to focus on Digitalisation, Smart Building & Construction and Sustainability

Singapore, Mar 22, 2023 – (ACN Newswire) – BuildTech Asia (BTA), the leading platform for Asia Pacific’s building and construction industry, is back for its 12th edition from 28 – 30 March 2023. A Constellar event, BTA’s theme this year is “Transforming Tomorrow’s Built Environment”, presented with 48 local and regional industry associations and partners. BTA 2023 will feature over 100 onsite exhibitors from 15 countries and regions (almost a 40% expansion from last year) and an extensive line-up of conferences, sandboxes and product launches to better equip and future-proof the sector.

Countries and regions participating include Singapore, Australia, Cambodia, China, Finland, Germany, Hong Kong, India, Israel, Japan, Korea, Malaysia, Poland, Sweden, Taiwan and USA.

Official Launch of BCA – STAS Shared Services Providers (SSP) Scheme

Guest-of-Honour Senior Minister of State for Ministry of Communications and Information & Ministry of National Development Mr Tan Kiat How will officiate the opening of BTA 2023 with an opening address and the official launch of Specialists Trade Alliance of Singapore (STAS)’s Shared Services Registry, a significant milestone in STAS’s commitment to digitalising the Built Environment sector.

The adoption of Building Information Modelling (BIM) and Integrated Digital Delivery (IDD) is a key enabler of transformation in the Built Environment sector. It is a digital spine that links project stakeholders throughout the entire building lifecycle. The Shared Services Registry serves the BIM and IDD procurement needs of stakeholders, especially SMEs, in their digitalisation journey. The pilot was successful, and the Shared Services Registry will be scaled up to implement more rigorous quality checks and open up for public registration from Q3 2023.

Experience Tomorrow’s Built Environment in person

BTA 2023 will deep-dive into three dimensions of emerging technologies and solutions that are making an impact on industries today – Digitalisation, Smart Construction (Robotics & Automation) & Green Construction (Sustainability). To better demonstrate the utilisation of new technologies and solutions, BTA 2023 has curated and will be introducing two new experiential zones:

  • The Smart Construction Experience Zone, powered by Tractors Singapore Limited (TSL), a leading equipment dealer in Singapore distributing a full line of Cat® machines and engines such as the Excavator 320 and the Vibratory Soil Compactor CS11GC
  • The Robotics & Automation Experience Zone, featuring Singapore SMEs such as Doog International, who will be showcasing their user-friendly and highly scalable autonomous mobile robots such as “THOUZER”, a versatile robotic cart with a payload capacity of 120kg, a towing capacity of 300kg and equipped with Follow-Me and Memory Trace® Technology, developed to navigate challenging construction work sites and execute automated repetitive tasks

BTA 2023 will also welcome new companies offering their latest solutions, equipment and machinery for the sector:

  • Knauf Plasterboard Ptd Ltd: one of the world’s leading dry construction systems and solutions providers
  • Liugong Machinery Co., Ltd: 10th-largest construction equipment manufacturer by global market share and the world’s largest manufacturer of wheel loaders
  • Pee Huan Pte Ltd: authorised distributor for the HELI Forklift brand and has more than 20 years of experience in the material handling industry
  • Sany South East Asia Pte Ltd: 3rd-largest heavy equipment manufacturer globally and one of Singapore’s leading supplier offering sales, services and technical solutions in the crane industry
  • SquareDog Robotics Limited: who will be showcasing SQD-Robo Patrol, its cost-effective, multi-functional robot that provides 24/7 security patrol for the warehouse

BTA 2023 will also see returning key industry players such as Buildo Engineering Pte Ltd, Lingjack Digital Pte Ltd, PDS International Pte Ltd and SPC Industries Sdn Bhd, who are looking forward to showcasing how their latest equipment and solutions can meet evolving building and construction needs.

Bridging knowledge gaps and addressing industry challenges

BTA 2023 will also be launching its inaugural Built Environment Transformation Forum, where industry leaders and experts will be sharing about post-pandemic collaboration opportunities as well as trends and policies pivotal to the Built Environment Sector. Kicking off the forum is a fireside chat on sector transformation with Mr Heng Teck Thai, Deputy CEO (BuildSG Office) of the Building and Construction Authority (BCA).

BTA is also working with Asia Pacific Assistive Robotics Association (APARA), World of Safety and Health Asia (WSH Asia), Singapore Contractors Association Limited (SCAL), Association of Women in Construction (AWiCS), Singapore International Facility Management Association (SIFMA) and the exhibitors, to offer six half-day conferences and over 80 conference sessions, product launches and sandboxes on the latest industry developments, technology advancements and best practices for the sector.

Participants can expect insightful discussions on digitalising their operations, incorporating artificial intelligence or AI and robotics for smart construction, adopting sustainable practices, refreshing safety measures, and upgrading their knowledge in integrated facilities management. Sessions to look out for include:

  • The update on The Accreditation of Project Managers (APM) scheme by Mr Jonathan Shek, Chairman of the Society of Project Managers, aimed at enhancing standard of project management practice in Singapore’s built environment & construction industry
  • Improving measurement accuracy with 3D laser scanning by Mr Mika Honkavuori, Entrepreneur, RECURE
  • Establishing proper data preparation platforms to facilitate accurate retrieval of AI datasets by Mr Kevin Quah, Founder & CEO, Tictag

Propelling ahead with sustainability efforts

BTA 2023 is also the first event in Singapore EXPO to be piloting the sustainability measurements proof-of-concept under Singapore’s MICE Sustainability Roadmap with SACEOS to measure event waste and carbon emissions. Together with Singapore EXPO, BTA will be coordinating closely with its exhibitors, suppliers and partners to identify waste drivers and boundaries, and generate actionable insights for the industry to make informed decisions to achieve net zero by 2050. Singapore EXPO, managed by Constellar, also recently announced key investment projects towards achieving Net Zero by 2024.

“The pilot deployment of the sustainability measurements proof-of-concept at BTA 2023 will offer the Singapore MICE industry valuable insights and experience from diverse perspectives. These are especially important to Constellar as both an exhibition organiser and MICE venue operator, and will enable us to play a meaningful role in the MICE eco-system where collaboration with partners is the only way to reach the scale of impact needed,” said Mr Jean-François Quentin, Group Chief Executive Officer, Constellar.

BTA 2023 will be at Singapore EXPO Hall 3 from 28-30 March 2023.

About BuildTech Asia

BuildTech Asia is the Asia Pacific premier platform for the built environment sector which showcases the latest smart solutions and productive technologies across the entire building life-cycle. With international and regional brands showcasing the most comprehensive exhibiting profile such as onsite construction machinery & equipment, building materials & solutions, architectural & quality finishes, productive technologies, facilities management, and infrastructure solutions to help accelerate the built environment sector to build faster and smarter. The annual event provides a gateway into Asia to network with a wide range of practitioners, technology experts, industry players, developers, agents, and distributors in the building and construction industry.

About Constellar

Constellar connects a global eco-system of event partners and consumers through a holistic portfolio of intellectual property (IP) in the Meetings, Incentives, Conventions and Exhibitions (MICE) industry. As Asia’s partner of reference for curating innovative event and venue experiences, Constellar activates impactful networks to bring global markets, businesses and consumers together for sustainable growth. With our expertise and dedication, we are invested in helping you build trusted relationships with stakeholders for the long term and enabling cross-industry collaboration through world-class audience engagement solutions. Visit constellar.co for more information.

For more information, please contact:
Carine Lin
Manager, Communications & Culture
Email: carine.lin@constellar.co ; Mobile: 9336 3746



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

Acrometa to Expand to Thailand through MOU with Waste Management Company on Construction and Operation of Laboratory

SINGAPORE, Mar 21, 2023 – (ACN Newswire) – ACROMETA Group Limited, an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, announced that it has entered into a Memorandum of Understanding (MOU) with a Thailand company whose principal activity is the provision of industrial waste disposal services.

The Thailand company provides non-hazardous waste disposal services. It owns and operates one of Thailand's largest landfills and requires a laboratory in Thailand ("Laboratory") for the testing and certification of solid waste and sludge to ensure proper treatment of any hazardous materials.

The MOU states the intention by the parties to jointly discuss and negotiate definitive agreements on:

1. The design and construction of the Laboratory by ACROMETA's wholly-owned subsidiary Acromec Engineers Pte Ltd
2. The operation of the Laboratory by ACROMETA's co-working laboratory space operator Life Sciences Incubator Pte Ltd ("LSI")
3. Opportunities for ACROMETA and/or its subsidiaries to participate as a joint venture partner in the ownership of the Laboratory.

The MOU shall be valid for a period of six months from the date of signing with the option for extension by mutual agreement.

ACROMETA's Future Economy + Synergy Strategy

On 20 February 2023, ACROMETA announced that it had entered into a binding letter of intent to purchase an additional 40% of the shares of LSI to become the controlling shareholder. On expected completion date, LSI will be a 70% owned subsidiary of ACROMETA.

ACROMETA Chairman Mr Levin Lee Keng Weng had said, "This potentially carves out a new promising mainstream business for us as controlled environment specialist."

The co-working laboratory space business has strong growth potential as Singapore transforms its economy towards high-value sectors such as Biotech, Agritech, and Foodtech with more and more companies conducting research & development activities. Serving SMEs and start-ups and in particular those in the MedTech, Biotech, Biopharma, FoodTech, and Healthcare sectors, LSI provides flexible co-working laboratory spaces for their research and development. It also has synergy with ACROMETA's core controlled environments design and construction business.

Chief Executive Officer Mr. Lim Say Chin had added, "Our wholly owned subsidiary Acromec Engineers, with its experience as builders of cutting-edge laboratories will continue to support LSI's expansion with its controlled environments engineering expertise in Singapore and the region."

On the MOU with the Thailand company, Mr. Lee said, "A future economy business such as the operation of co-working laboratory space plus its synergy with ACROMETA's current core controlled environments design and construction has the potential to elevate the Group to a higher growth trajectory. It also opens the door for ACROMETA to scale its business, including expansion overseas."

In its 20 February 2023 announcement, the Group also mentioned that it was in talks for the proposed development of a co-working laboratory space in Australia, with world-renowned co-working space operator who has in principle agreed, subject to binding agreement, to be one of the anchor tenants.

For a reference on ACROMETA's controlled environments engineering business, newly-acquired co-working laboratory and its Future Economy + Synergy growth strategy please see: https://www.investor-one.com/editorial/22635-ACROMETA-Future-Economy–Synergy-Higher-Growth-Rate

Reference:
https://links.sgx.com/1.0.0/corporate-announcements/517KQ9GG6NX97RM4/339498d63b4046b7f328cb64347577597f5e686256a6a656d6b8ee4eb6d5126b
https://links.sgx.com/FileOpen/Acrometa%20-%20MOU_210323_Final.ashx?App=Announcement&FileID=750414

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

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

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

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

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

The company has been listed on the Catalist board of the Singapore Exchange since 2016.

For more information, please visit www.acrometa.com.

Media and Analysts Contact:
ACROMETA Group Limited
Mr. Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574
Email: jerry.tan@acromec.com

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

Proud Investor Relations partner: https://www.shareinvestorholdings.com/ and https://www.waterbrooks.com.sg/

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

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

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

Asia Allied Infrastructure Concludes HK$1.1 Billion 3-Year Term Loan Agreement

HONG KONG, Mar 14, 2023 – (ACN Newswire) – Asia Allied Infrastructure Holdings Limited ("Asia Allied Infrastructure", "AAI", or "the Group") (stock code: 00711) is pleased to announce that it has entered into a HK$1.1 billion term loan agreement with 6 banks. Part of the loan will be used to refinance the loan portfolio of the Group, while the rest will be used to support future operations and development. This facility will enhance the Group's financial flexibility and financing capability, as well as fully reflect the Group's future business development strength and potential.

The 3-year facility carrying an interest rate of HIBOR+1.65% was arranged by The Hongkong and Shanghai Banking Corporation Limited, Bank of Shanghai (Hong Kong) Limited, China Construction Bank (Asia) Corporation Limited, CMB Wing Lung Bank Limited, Chong Hing Bank Limited and The Bank of East Asia, Limited.

Mr. Dominic Pang, Chairman of Asia Allied Infrastructure, said, "We would like to express our sincere appreciation to the banks for their continual trust and support to AAI, it means a lot to us. The new loan facility shows the banking community's confidence in the Group's strong fundamentals and development strategies. Riding on AAI's long-established strong business foundation, industry experience and healthy financial position, we will continue to capture market opportunities and do our best to enhance shareholders' value and return."

Asia Allied Infrastructure Holdings Limited (stock code: 00711.HK)
Asia Allied Infrastructure Holdings Limited ("Asia Allied Infrastructure") is listed on the Main Board of the Hong Kong Stock Exchange under stock code 00711. The Group operates businesses such as construction engineering and management, property development and assets leasing, security and facility management, tunnel management, non-franchised bus services, as well as medical technology and healthcare. Its subsidiary "Chun Wo" is a renowned construction contractor and property developer in Hong Kong. Chun Wo's solid construction experience and professional capabilities have enabled the Group to seize suitable development opportunities, allowing the Group to enhance its overall profitability and investment value.


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

SCIB Posts Higher Revenue of RM66 Million in 1H FY2023

KUCHING, MALAYSIA, Feb 27, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Group's revenue increased by 2.6% to RM66.3 million for the six months ended 31 December 2022 (1H FY2023) compared with RM64.6 million registered in the corresponding period of the previous financial year (1H FY2022).
En. Rosland bin Othman, Group Managing Director and Chief Executive Officer of SCIB


The Company recorded a narrower loss before tax (LBT) of RM3.7 million in 1H FY2023 compared with LBT of RM4.0 million in 1H FY2022.

For the second quarter ended 31 December 2022 (2Q FY2023), the Company's revenue decreased 5.6% to RM36.0 million compared with RM38.1 million in 2Q FY2022, while LBT widened to RM2.8 million compared with RM1.3 million reported in 2Q of the previous financial year.

Revenue contribution from the manufacturing business increased 6.9% to RM45.7 million in 1H FY2023 compared with RM42.8 million in 1H FY2022, while revenue contribution from the engineering, procurement, construction, and commissioning (EPCC) business decreased marginally to RM20.2 million compared with RM21.4 million. For 2Q FY2023, the manufacturing business contribution to revenue decreased to RM21.6 million compared with RM23.7 million in 2Q FY2022, while EPCC business revenue contribution remained stable at RM14.0 million.

Group Managing Director of SCIB, Encik Rosland bin Othman said, "Our key manufacturing arm, the leading precast concrete and Industrialised Building System (IBS) producer in Sarawak and Sabah, continues to be the mainstay in terms of revenue contribution. Manufacturing saw an increase in profit before tax (PBT) to RM2.0 million in 1H FY2023 compared with RM0.3 million in 1H FY2022 while manufacturing PBT for the current quarter under review doubled to RM1.0 million compared with RM0.5 million in the corresponding quarter last year."

"The Malaysian economy began 2023 with good momentum, as the economic outlook gradually improves following strong growth in 2022. The construction sector grew 8.8% for the whole of 2022 supported by all subsectors, with the civil engineering subsector turning around to positive growth of 2.7%. Based on these latest developments, we are cautiously optimistic and will continue to leverage on our strength as the leading precast and IBS manufacturer in Sarawak and Sabah complemented with our track record in EPCC projects to bid for jobs."

As of January 2023, the Company has an order book of RM387.96 million with earnings visibility until 2026.

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

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

Southern Score Builders Posts RM59 Million Revenue in 2Q

KUALA LUMPUR, Feb 20, 2023 – (ACN Newswire) – Southern Score Builders Berhad (Bursa: SSB8, 0045), a provider of construction management services mainly for high-rise residential buildings, had announced today that the Group registered revenue of RM59.35 million for the second quarter ended 31 December 2022 (2Q FY2023).
Executive Director and Chief Executive Officer of Southern Score Builders, Gan Yee Hin


The Group recorded a loss before tax (LBT) of RM0.43 million in 2Q FY2023. The LBT recorded was mainly due to a one-off reverse acquisition expense amounting to RM14.63 million incurred as part of the regularisation plan which was completed on 9 November 2022. If not for the reverse acquisition expense, the Group would have recorded a profit before tax (PBT) of RM14.2 million in 2Q FY2023.

Due to the regularisation plan, there is no comparison with the corresponding quarter of the previous financial year.

For the six months ended 31 December 2022 (1H FY2023), Southern Score Builders registered revenue of RM110.47 million and PBT of RM9.46 million. The Group would have registered PBT of RM24.09 million for 1H FY2023 if not for the reverse acquisition expense incurred under the regularisation plan.

The Group remains in a solid financial position to pursue its growth and expansion plans, with cash and cash equivalents balance at the end of 1H FY2023 amounting to RM108.22 million.

Executive Director and Chief Executive Officer of Southern Score Builders, Gan Yee Hin said, "We are optimistic for the outlook of the Group based on the ongoing projects and the Group's potential to secure new projects in the coming quarters. We believe the growth momentum of the domestic construction sector will continue after having expanded 8.8% in 2022 according to the latest figures from the Department of Statistics Malaysia."

"The Group has participated in a number of public and private sector tenders and is also exploring opportunities in other projects that could yield long-term and sustainable revenue. The strategic focus remains expanding our construction services while leveraging on our expertise and business network. As part of the future plans, we are also venturing into the manufacturing of Industrialised Building System products as we see demand growing from the construction sector."

"Taking into consideration the Group's prospects, the Group is likely to achieve the targeted profit over the profit guarantee period which is a cumulative net profit guarantee of RM80.0 million over the three-year period from 2022 to 2024 provided by the vendor, Super Advantage Property Sdn Bhd under the regularisation plan. This guarantee is intact and well on target."

In a separate announcement to the stock exchange, the Group's Board of Directors declared an interim dividend of 1 sen per ordinary share for the financial year ending 30 June 2023 to be paid out on 18 April 2023 with an ex-date of 28 March 2023.

Southern Score Builders Bhd: 0045 [BURSA: SSB8], https://southernscore.com.my/

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

ACROMETA Acquires Controlling Stake in Co-Working Lab Space Company Life Science Incubator (LSI)

SINGAPORE, Feb 20, 2023 – (ACN Newswire) – ACROMETA Group Limited [SGX: 43F], an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, has entered into a legally binding letter of intent (LOI) to purchase an additional 40% of the outstanding shares of Life Sciences Incubator Pte Ltd (LSI) for a total consideration of S$1.6 million payable in tranches, based on realization of agreed milestones in its immediate expansion plan. Upon completion of the purchase, the Group will control 70% of LSI, up from the current 30%.

LSI currently operates a 6,500 sq feet co-working laboratory space at The German Centre in Singapore serving SMEs and start-ups. Launched in September 2021, LSI at German Centre garners very healthy occupancy rates within a year of operations. Fueled by strong demand, as more and more companies conduct R&D to bring innovative products into the market, LSI is looking to expand in Singapore as well as in the region.

The additional stake will add another dimension of growth to the Group's business as it becomes not only a builder of laboratories but also an operator of co-working laboratory space.

"This potentially carves out a new promising mainstream business for us as controlled environment specialist", says ACROMETA Executive Chairman, Mr Levin Lee Keng Weng. Levin Lee added, "I am glad that ACROMETA, through LSI, can play a vital role in supporting the R&D of startups and SMEs, where their innovation and new discoveries will make the world a better place for us to live in. Our co-working laboratory spaces will make it easier for their dreams to come true."

The co-working laboratory space business has strong growth potential locally as Singapore transforms its economy towards high-value sectors with more and more companies conducting research & development activities. Serving SMEs and start-ups and in particular those in the MedTech, Biotech, Biopharma, FoodTech, and Healthcare sectors, LSI provides flexible co-working laboratory spaces for their research and development.

With access to communal state-of-the-art specialized equipment, technologies and facilities as well as event and office spaces, this enables start-ups and SMEs to innovate and conduct their cutting-edge R&D without having to shoulder the prohibitive costs involved if they were to install such specialized infrastructure by themselves.

By collocating in The German Centre and working closely with them, LSI is also able to provide complementary office spaces and meeting rooms when needed, forming an ideal partnership of both co-working office and laboratory space. The German Centre is a worldwide network which supports businesses by providing offices with specialized co-working office space, advice and networking for startups and SMEs. It is renowned for its German DNA of efficiency and quality. Therefore, the Group is exploring further collaboration with The German Centre in the expansion plans of LSI.

"We have also strategized Australia as our first foray overseas for LSI and we are excited to be there, where we believe there is a sizeable market to capture for the co-working lab space business! We have found a suitable location and on grounds of confidentiality, we are in talks with a renowned global government-linked company who has in principle agreed, subject to a binding agreement, to be one of the anchor tenants for the proposed LSI Australia site," said Levin Lee.

LSI's co-working laboratory spaces business will provide the Group with another income stream that complements its controlled environments engineering business which is largely project based.

Chief Executive Officer Mr Lim Say Chin said, "Our wholly owned subsidiary Acromec Engineers, with its experience as builders of cutting- edge laboratories will continue to support LSI's expansion with its controlled environments engineering expertise in Singapore and the region."

This Media Release is to be read in conjunction with the announcement on SGXNet on 20 February 2023.

SGX Reference:
https://links.sgx.com/1.0.0/corporate-announcements/8K6I1R6WOZ24M4FK/ab8c8ef9ddf08cff61c306ff3ddc6f4ab713ea17cfdc85571c2c4058f9468862

About ACROMETA Group Limited [SGX: 43F] [BIC: ACRO:SP] [RIC: ACRO.SI]

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMETA's business is divided into two main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure.

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

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

Media and Analysts Contact:
ACROMETA Group Limited
Mr. Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574
Email: jerry.tan@acromec.com

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

This media release has been reviewed by the Company's sponsor, Evolve Capital Advisory Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document. The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.

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

SGX-Listed Mooreast Signs Agreement with ETZ Ltd in the Presence of Scottish Minister Mr Ivan McKee to Explore Establishing Manufacturing Facility in Aberdeen to Support Floating Offshore Wind Energy Projects

SINGAPORE, Feb 20, 2023 – (ACN Newswire) – Singapore Exchange Catalist-listed Mooreast Holdings Ltd. ("Mooreast" or the "Group") signed a Collaboration Agreement (the "Agreement") to explore establishing a manufacturing facility in Aberdeen, Scotland for the production of subsea foundations, as well as consolidation and assembly of mooring components for the floating offshore renewable energy sector.
Mr Sim Koon Lam, CEO of Mooreast (right), alongside Mr Andy Rodden (left), Director, Offshore Renewables of ETZ Ltd, signed a Collaboration Agreement in the presence of Mr Ivan McKee (centre), Minister for Business, Trade, Tourism and Enterprise to explore establishing a manufacturing facility in Aberdeen, Scotland


Pursuant to this Agreement, the mooring and rigging solutions leader will work with ETZ Ltd ("ETZ"), a private sector-led not-for-profit company spearheading the energy transition ambitions of Northeast Scotland by supporting the creation of a hub to protect the Scottish renewable sector whilst facilitating job creation.

Signed in Singapore together with ETZ Offshore Renewables Director, Mr Andy Rodden, and witnessed by Mr Ivan McKee, Scotland's Minister for Business, Trade, Tourism and Enterprise, the facility is projected to be more than double the floor space and output of the Group's Singapore facility at 51 Shipyard Road.

It will support Mooreast's efforts to target an increasing number of offshore wind projects emerging in Europe. High-profile projects include the ScotWind auction, The Celtic Sea Cluster and the Innovation and Targeted Oil and Gas (INTOG) project, which are expected to deliver over 20GW, 5 GW and 4.5GW of floating wind energy, respectively. As part of its strategy to capture such opportunities, the Group incorporated Mooreast UK Co Limited ("Mooreast UK") in July 2022.

Based on the Agreement, Mooreast and ETZ will work closely on the following areas, amongst others, to help secure a positive outcome in terms of:

– Developing a preferred site plan to meet the requirements of Mooreast that is compatible with local planning regulations, development requirements and site limitations.
– Delivering a jobs and skills plan to secure a workforce ready to support the effective operation of a facility whilst creating employment opportunities for local communities aligned with just transition principles.
– Facilitating introductions to key local supply chain companies required to support the start-up and future operation of the preferred site.

Mr Sim Koon Lam, CEO of Mooreast, said: "We are honoured to have Mr Ivan McKee grace this event. Upon completion, the facility will serve as a cornerstone of Mooreast's expansion into Europe, and will enable us to produce high-quality products and services for our renewable energy customers in the region."

Scottish Government Minister for Business, Trade, Tourism and Enterprise, Ivan McKee, said: "It is great to witness the signing of this Collaboration Agreement. As the world's largest floating offshore wind leasing round, ScotWind puts us at the forefront of the global development of offshore wind and represents a massive step forward in our transition to net zero.

As set out in our National Strategy for Economic Transformation and our Inward Investment Plan, it is critically important that we work closely with inward investors by offering our unique 'Team Scotland' approach to support their growth and expansion into Scotland, enabling us to deliver inclusive economic prosperity."

ETZ Ltd Offshore Renewables Director, Andy Rodden, said: "Mooreast's intention to explore establishing significant operations in Aberdeen is warmly welcomed and a testament to the critical mass this region has in the skills and expertise required to support such an exciting development.

"Owing to a world-class oil and gas sector, our region is home to 75% of the world's subsea engineering capability and the highest concentration of energy supply chain companies anywhere in the UK. ETZ Ltd's role is to harness these competitive strengths and accelerate diversification in order to retain that global status as a sustainable and long-term-industry cluster for new and green energies.

We are at the very early stages of this particular process but this potential development reflects the type of investment that will help us realise this ambition. I'm therefore delighted that ETZ Ltd, which has a key role as a catalyst to attract investment to the region, will be working closely with Mooreast on a range of areas as we seek to secure a positive outcome."

Mooreast has appointed Mr Barry Silver as Managing Director of Mooreast UK. He brings over 24 years of business, technical and operational experience in offshore energy markets, and will be responsible for establishing and managing the Group's facility, as well as business development to support Mooreast's international growth.

Mr Sim added: "We welcome Mr Barry Silver to the Mooreast team. His deep domain knowledge, extensive experience, and strong leadership skills will be a valuable asset in bringing the Group to the next level, as we continue to capture opportunities in the offshore renewable energy industry."

About Mooreast Holdings Ltd.

Mooreast is a total mooring solutions specialist, serving mainly the offshore oil & gas ("O&G"), marine and offshore renewable energy industries, with operations primarily in Singapore, and through its wholly-owned subsidiary, Mooreast Europe, a European sales office in Rotterdam, the Netherlands.

Mooreast's solutions include the design, engineering, fabrication, supply and logistics, installation and commissioning of mooring systems. Mooreast is applying its experience and expertise in mooring solutions to floating renewable energy projects, in particular floating offshore wind farms. It has successfully participated in developmental and prototype projects for floating offshore wind turbines in Japan and Europe. For more information, please visit https://mooreast.com/

About ETZ Ltd

ETZ Ltd ("ETZ") is a not-for-profit organisation operating on the basis of no commercial gain and with one over-riding goal – to protect and create as many jobs as possible ensuring a sustainable and vibrant future for the North East of Scotland and the people who live and work here. ETZ Ltd will is supporting the creation of a world-leading hub for renewable energies – offshore wind, hydrogen, carbon capture and storage – establishing a sustainable cluster of activity, jobs and skills. For more information, please visit www.etzltd.com

Media & Investors:
WeR1 Consultants Pte Ltd
Isaac Tang, e: mooreast@wer1.net, m: +65 9748 0688

This press release has been prepared by the Company and its contents have been reviewed by the Company's sponsor, W Capital Markets Pte. Ltd. (the "Sponsor"). This press release has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Ms Sheila Ong, Registered Professional, W Capital Markets Pte. Ltd., at 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 6513 3541.

Issued for and on behalf of Mooreast Holdings Ltd. by WeR1 Consultants Pte Ltd.

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

Aneka Jaringan Shareholders Approve All Resolutions at 4th AGM

KUALA LUMPUR, Feb 16, 2023 – (ACN Newswire) – Aneka Jaringan Holdings Berhad (Bursa: ANEKA, 0226), a basement and foundation construction specialist, announced that shareholders have approved all resolutions at the 4th Annual General Meeting (AGM) of Aneka Jaringan held today on a virtual platform.
Managing Director of Aneka Jaringan, Pang Tse Fui


Shareholders received the audited financial statements for the Financial Year Ended 31 August 2022 together with the reports of the directors and auditors contained therein. Shareholder passed resolutions to re-elect Dato' Noraini binti Abdul Rahman and Wee Kee Hong to the Board of Directors and approved the payment of directors' fees and benefits of up to RM220,000 from 17 February 2023 until the conclusion of the next AGM.

Other resolutions passed included the re-appointment of Baker Tilly Monteiro Heng PLT as the Group's auditor, as well as authorising the Board of Directors to fix its remuneration. Shareholders also approved the authority for the Board of Directors to issue shares and approved the proposed new mandate for recurrent related party transactions of a revenue or trading nature.

Managing Director of Aneka Jaringan, Pang Tse Fui said, "We would like to thank shareholders for their continued support and confidence in us as the Group continues to secure new contracts in Malaysia while expanding in Indonesia. We have secured RM59.8 million in contracts in Financial Year Ended 2023 and have increased capacity in Indonesia as we seek to leverage on the country's infrastructure needs that include its new capital of Nusantara."

"The Group is cognisant of the risks and challenges that continue to affect the construction sector. Energy, labour and raw material prices remain areas of concern and the Group has taken steps to mitigate these risks such as replacing outsourced workers with newly recruited foreign workers as we have been granted a government quota of 150 workers."

Aneka Jaringan has an order book of RM145.73 million as of 31 October 2022, with Malaysian operations contributing RM138.97 million and Indonesian operations contributing RM6.76 million.

As of 31 October 2022, the Group's tender book stood at RM969.45 million, with tenders in Malaysia valued at RM873.85 million and tenders in Indonesia valued at RM95.60 million.

Aneka Jaringan Holdings Berhad: 226 [BURSA: ANEKA], http://www.anekajaringan.com/

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