KUALA LUMPUR, Nov 24, 2023 – (ACN Newswire) –Artroniq Berhad (“Artroniq” or the “Group”), a key contender on the ACE Market, with its’ game-changing move for the Malaysian electric vehicle industry, is proud to unveils the Group’s financial achievements for the first quarter ended 30 September 2023 (“Q1 FY2024”). The Group has demonstrated exceptional growth and strategic resilience, marking a promising start to the year with a substantial increase in revenue.
In Q1 FY2024, Artroniq Berhad achieved an extraordinary revenue of RM16.0 million, marking a stellar increase of about 225-fold as compared to Q6 FY2023. This surge in revenue is mainly attributed to the resolution of previous product returns in the ICT products and related services segment, signifying a robust recovery and commitment to quality and customer service.
Despite the challenging economic climate, Artroniq Berhad has significantly reduced its loss before tax to a less than RM0.1 million in Q1 FY2024 from RM16.0 million in Q6 FY2023. This improvement is a result of strategic initiatives and effective management decisions, including addressing goodwill impairment in the ICT segment.
The management of Artroniq, commented, “We are thrilled with our Q1 performance, which not only showcases our resilience but also our strategic prowess in navigating industry challenges. Artroniq Berhad is actively capitalising on the growth of the semiconductor industry and the emerging electric vehicle market. Our ventures, especially in electric bicycles, are aligned with Malaysia’s Madani Economy objectives and contribute to the national goal of carbon neutrality by 2050. We are committed to innovation, sustainability, and delivering value to our stakeholders.”
They added: “The global semiconductor industry continues to grow despite challenges in securing resources and talent. Malaysia’s strategic initiatives, particularly in Penang, are creating a conducive environment for semiconductor advancements. The government’s focus, as highlighted by the Malaysian Automotive, Robotics and IoT Institute (MARii), on initiatives like the Electric Motorcycle Usage Incentive Scheme is expected to bolster the EV market, including electric motorcycles (e-bikes).”
In conclusion, Artroniq Berhad remains focused on its growth trajectory, leveraging its strengths in the semiconductor and electric vehicle sectors. The Group is committed to navigating the dynamic market conditions with prudence and strategic foresight, ensuring sustained success in 2024 and beyond.
As at 23 November 2023, the share price of Artroniq is RM0.845, representing a market capitalisation of RM344.6 million.
SAN FRANCISCO, November 23, 2023 (ACN Newswire) – DIBA Global, backed by industry titans including Draper Associates, ACTAI Ventures, Waterdrip Capital, Martial Eagle Fund, Brad Mills, Rodney Yesep, and others, has sent shockwaves through the Bitcoin industry with the beta release of BitMask Wallet 0.7.0. This marks a historic moment as the user base surpasses 763,623 wallets. This milestone, achieved without any advertising, underscores the community’s trust in DIBA’s commitment to advancing Bitcoin utility.
Worthy of note is the official partnership between DIBA GLOBAL and Satoshi Lab to foster the development and advancement of Bitcoin technology and, as a result, build a better world for all.
Unveiling the Future: BitMask Wallet 0.7.0
BitMask Wallet 0.7.0 is not merely an update; it’s a quantum leap in the evolution of Bitcoin wallets. As one of the pioneers offering first-class support for RGB, the release signals DIBA’s dedication to pushing the boundaries of what’s achievable on the Bitcoin network. The beta version, accessible at beta.bitmask.app, is a glimpse into the upcoming launch of a groundbreaking marketplace for Unique Digital Assets, poised to reshape the digital economy.
BitMask Wallet 0.7.0 is a game-changing release that sets new standards for Bitcoin wallets. With BitMask Core, written in Rust, compiled to WebAssembly, and provides TypeScript bindings, it reflects DIBA’s commitment to technical excellence and delivery capabilities. Visit bitmask-core.io for more information.
Community-Powered Growth: Unleashing Potential
The success story behind BitMask Wallet’s growth is awe-inspiring. No advertising, just relentless innovation. More than 763,623 wallets have been generated by users, with over 201,221 on Bitcoin mainnet, and the remainder spread over testnet, Mutinynet signet, and regtest. Not every user has wallets on every network and many will have used multiple networks. Regtest is primarily used by developers, which suggests significant adoption of BitMask amongst the RGB developer community. The numbers speak volumes about the community’s belief in DIBA’s vision and the utility offered by BitMask Wallet.
The team expresses their sincerest gratitude to BitMask community member and researcher @DaPangDunCrypto, who generously shared news of our innovation and communicated details about RGB smart contracts on Bitcoin with the Chinese community.
Technical Marvel: Metrics and Security
The technical prowess behind these metrics is equally impressive. Utilizing Carbonado, an encoding format developed by DIBA, RGB contract data is securely kept in decentralized storage. End-to-end encryption, powered by a wallet-derived key, ensures utmost security. Data is stored on servers operated by Hut8, with plans to expand storage partnerships, reflecting DIBA’s commitment to robust decentralized infrastructure.
Revolutionary Features of BitMask Wallet 0.7.0
The 0.7.0 release introduces a host of features, including: –Password Sync in Extension: Enhancing user experience by minimizing password prompts. – Transfer Batching: Optimizing RGB transfers with fee adjustments for consecutive transactions. This will result in a dramatic reduction in fees for our users. – Contract Management: Users can now hide unwanted contracts and republish existing contracts to the BitMask Asset Registry. – User Experience Enhancements: Numerous improvements and bug fixes for a seamless experience.
Future of Bitcoin: A Bold Step Forward
BitMask Wallet 0.7.0 is not just a wallet; it’s a statement. A statement that DIBA is committed to pushing the envelope, introducing features that redefine user experience, and laying the groundwork for the future of Bitcoin. We are still very early.
Join the Revolution: #GOATs Incoming
Follow DIBA’s socials on X* (formerly Twitter) and Nostr** for an impending announcement of Gift of Attendance Tokens (GOATs). The Bitcoin world is watching, and you won’t want to miss this historic moment. Join us as we reshape the digital landscape and usher in a new era of Bitcoin innovation.
HONG KONG, Nov 23, 2023 – (ACN Newswire) – The “BEA x Blue Cross Insurance 2023 Hong Kong Open Fencing Championships”, the climactic final week of Hong Kong’s fencing competitions, will be held with great fanfare on 25th and 26th November, 2023. Hosted at Hall 11 of AsiaWorld-Expo, the Championships are organised by the Hong Kong Fencing Association (“HKFA”) and co-sponsored by The Bank of East Asia, Limited (“BEA”) and Blue Cross (Asia-Pacific) Insurance Limited (“Blue Cross”).
BEA and Blue Cross have been actively devoting resources to nurture local athletes and support sports development, particularly through their well-established association with the HKFA, working hand-in-hand to promote the sport of fencing and raise public awareness of local athletes. World-class fencers have been invited to the Championships, and nearly 1,000 elite fencers, including 100 overseas participants from 14 countries and regions, such as China, Australia, New Zealand, Korea, Singapore, Chinese Taipei and more, will gather in Hong Kong to vie for the awards. This year, following the award arrangement from last year, the “BEA x Blue Cross Insurance Best Fencer Awards” will be presented, recognising the top 24 athletes for outstanding performances in the Men’s and Women’s Open categories for Epee, Foil and Sabre. The total prize money available amounts to over HKD$100,000.
This year’s tournament will include Men’s and Women’s Open categories and Master categories for Epee, Foil and Sabre, which will capture the excitement and put on display exquisite fencing skills at their best. Additionally, there will be competitions for boys and girls Under-14 categories in Epee, Foil and Sabre, with the aim of nurturing rising stars and providing opportunities for youngsters to experience world-class competitions and present their talent to the world.
Mr. Yang Wing Sun, President of the HKFA, said, “We are honoured to be able to invite top fencers from around the world to participate in this edition of the Championships, and we believe it will be an intense arena of competitive excellence. We would like to express our gratitude to the BEA, Blue Cross and Hong Kong Government for their unwavering support in promoting the development of fencing in Hong Kong, including their strong support for the Hong Kong Open Fencing Championships. This has provided a platform and necessary resources to allow fencers to gain top-class experience and enhance their skills. For fencers of Hong Kong team, the Hong Kong Open Fencing Championships can be regarded as a warm-up match for next year’s Fencing Grand Prix, in preparation for winning Olympic tickets.”
Mr. Adrian Li, Co-Chief Executive of BEA, said, “Hong Kong’s fencers have captured our imaginations with their exceptional and inspiring performances in recent competitions. In collaboration with Blue Cross and HKFA, BEA is honoured to sponsor another year of the Hong Kong Open Fencing Championships, to further engage our community in this thrilling sport. The Bank supports the development of the Hong Kong sports scene and local athletes, and we eagerly look forward to electrifying performances that will bring the joy of sports to the public.”
Ms. Bonnie Tse, Chief Executive Officer of Blue Cross, stated, “This year marks Blue Cross’s eighth consecutive year as the title sponsor of the ‘Hong Kong Open Fencing Championships’. We have witnessed the rise in interest and awareness of fencing in Hong Kong over the years. We are therefore delighted to join force once again with BEA and the HKFA to provide more opportunities for the public to enjoy high-level competitions, support local athletes and sports development, and contribute to the promotion of sports in the community.”
Incorporated in 1918, The Bank of East Asia, Limited (“BEA”) is a leading Hong Kong-based financial services group listed on The Stock Exchange of Hong Kong, with total consolidated assets of HK$872.1 billion (US$111.3 billion) as of 30th June, 2023.
BEA provides a comprehensive range of corporate banking, personal banking, wealth management, and investment services to customers through an extensive network of about 130 outlets covering Hong Kong, the Chinese Mainland, Macau, Taiwan, Southeast Asia, the United Kingdom, and the United States. For more information, please visit www.hkbea.com.
About Blue Cross Insurance
Blue Cross (Asia-Pacific) Insurance Limited (“Blue Cross”) is a subsidiary of AIA Group Limited. With over 50 years of operational experience in the insurance industry, Blue Cross provides a comprehensive range of products and services including medical, travel, and general insurance, which cater to the needs of both individual and corporate customers.
Blue Cross distributes its products through various channels, including AIA agency force, online platform, direct sales, BEA network, insurance agents and brokers, as well as travel agencies.
In 2023, Blue Cross is assigned the Financial Strength Rating of A+ / Stable and Issuer Credit Rating: A+ / Stable by S&P. For more information about Blue Cross, please visit www.bluecross.com.hk.
Appendix 1: “BEA x Blue Cross 2023 Hong Kong Open Fencing Championships” Schedule*
Competition Date
Categories
Individual Events
Competition Time
25th November, 2023(Sat)
Open Categories
Men’s Epee
9am – 8pm
Women’s Foil
Men’s Sabre
Master Categories
Men’s Epee
1pm – 4pm
Men’s Sabre
4pm – 6pm
Women’s Foil
5pm – 6pm
Under-14 Categories
Women’s Epee
9am – 8pm
Men’s Foil
Women’s Sabre
26th November, 2023(Sun)
Open Categories
Women’s Epee
9am – 8pm
Men’s Foil
Women’s Sabre
Master Categories
Women’s Epee
3pm – 6pm
Men’s Foil
Under-14 Categories
Men’s Epee
9am – 8pm
Women’s Foil
Men’s Sabre
*Please visit Hong Kong Fencing Association website (www.hkfa.org.hk) for details.
KUALA LUMPUR, Nov 23, 2023 – (ACN Newswire) – Varia Berhad (“Varia” or the “Group”), an experienced player in the field of construction, property investment, and property development, heralds a new era with a substantial upswing in Q2 FY2024 financial performance and strategic corporate developments. The Group’s transformative steps include the acquisition of Pembinaan Teguh Maju Sdn Bhd (“PTM”) and a dynamic rebranding to Varia Berhad.
Datuk Benson Lau, Managing Director of Varia
In Q2 FY2024, Varia Berhad recorded a substantial increase in revenue and profit. Revenue surged by 156% to RM20.47 million, with a profit before tax (PBT) of RM1.24 million, representing an impressive turnaround from the previous year’s loss in the same quarter. This surge in financial performance is primarily attributed to the construction segment’s success, with notable contributions from the Serendah project, Medical City UPM, and the UDA Penang project.
Over the first six months of FY2024, Varia Berhad achieved a revenue of RM40.42 million and a PBT of RM1.43 million, representing a 124% and 145% increase respectively compared to the corresponding period in the previous year. The construction segment has been the main driver of this significant growth.
Compared to the immediate preceding quarter, the Group saw a revenue increase of 3% and a substantial profit before tax increase of 549%. These figures underscore the consistent and robust performance of the construction segment.
For information, the Group’s EGM on 2 November 2023 had received blessings from the shareholders for the acquisition of PTM, a pivotal development for Varia Berhad. This acquisition, valued at RM380.0 million, introduces PTM’s RM1.16 billion in outstanding orders and potential contracts worth approximately RM1.78 billion into the Group’s portfolio. PTM’s commitment to a profit guarantee of RM120.0 million over the next three financial years further strengthens Varia’s market position.
Datuk Benson Lau, Managing Director of Varia, expressed his enthusiasm: “The outstanding financial results of Q2 FY2024 signal a transformative era for Varia Berhad, one marked by strategic acumen and robust growth. Our successful rebranding, coupled with the pivotal acquisition of PTM, demonstrates not just a milestone but a leap forward in our ambitious growth journey. These developments are a testament to our shareholders’ deep trust and belief in our vision and strategic direction.”
He added, “As we celebrate this remarkable quarter, our focus remains steadfast on capitalising on the synergies brought by PTM, further diversifying and strengthening our construction and property development segments. We are more committed than ever to drive innovation, excellence, and sustainability in our operations, ensuring sustained growth and reinforcing investor confidence. The future for Varia Berhad is bright, and we are excited to embark on this journey with the unwavering support of our shareholders and dedicated team.”
As at 23 November 2023, 5:00 P.M., Varia Berhad’s share price is RM1.04 with a market capitalisation of RM70.0 million.
SHAH ALAM, Malaysia, Nov 23, 2023 – (ACN Newswire) – Synergy House Berhad (“Synergy House” or the “Group”), a cross-border e-commerce seller and furniture exporter of ready-to-assemble (“RTA”) home furniture, today announced outstanding financial results for the third quarter ended 30 September 2023 (“3Q FY2023”).
Executive Director of Synergy House, Mr. Tan Eu Tah
In a remarkable display of growth, the Group reported a robust revenue of RM69.2 million and profit after tax (“PAT”) of RM8.1 million for 3Q FY2023, indicating significant quarter-on-quarter improvements. This exceptional performance for the current quarter is largely attributed to Synergy House’s business-to-consumer (B2C) sector’s improved margins, along with the strong growth in its business-to-business (B2B) operations.
Executive Director of Synergy House, Mr. Teh Yee Luen
The Group’s diverse global reach was highlighted in its regional revenue contributions: the United States of America (“USA”) led with RM30.9 million, underscoring its position as the largest market and a testament to the Group’s impactful B2C strategy. The United Kingdom followed closely with RM27.6 million, while the United Arab Emirates contributed RM8.6 million.
For the 9-month period ending 30 September 2023, the Group reported a total revenue of RM179.4 million and a PAT of RM16.9 million, surpassing the PAT of RM16.6 million recorded in the previous 12-month financial year ended 31 December 2022.
The B2C segment was particularly significant, contributing RM77.1 million for the 9-month period ending 30 September 2023, surpassing the total B2C revenue of RM49.6 million recorded in the previous 12-month financial year financial year ended 31 December 2022. This underscores the success of Synergy House’s targeted focus on and investment in the B2C sector.
Executive Director of Synergy House, Mr. Tan Eu Tah said, “The current quarter’s extraordinary results are a clear indicator of the effectiveness of our strategies, particularly in the B2C segment. Notably, our geographical diversification of our B2C segment to UK started to provide positive outcome with an impressive quarter-on-quarter growth of approximately 95%, with revenue reaching RM2.1 million in the third quarter of FY2023, reinforcing our position as a key player in this significant market. Our focused approach in expanding our online presence and enhancing customer engagement has paid off, leading to remarkable growth in both our B2B and B2C segments. We are thrilled with the progress and are committed to continuing our journey towards becoming a dominant force in the global furniture e-commerce market.”
Executive Director of Synergy House, Mr. Teh Yee Luen said, “We are immensely proud of our team’s efforts in achieving these results. The growth in our B2C segment, especially, represents our commitment to meeting consumer demands and adapting to market trends. Our strategies to enhance online visibility and customer reach, coupled with our focus on design innovation, are essential components of our long-term growth plan. We are confident that these strategies will enable us to further strengthen our market position and achieve sustainable growth.”
Looking forward, Synergy House is poised for continued growth with plans to enhance its B2C segment through various strategic initiatives and expand its product range through continuous design and development efforts, and explore opportunities to reach new audiences by expanding to new e-commerce platforms and entering untapped markets in different countries.
Despite global economic challenges, the Group remains optimistic about its prospects in the global furniture e-commerce market, supported by its competitive pricing and established presence in key markets such as the USA, UK, and Canada.
As at 23 November 2023, the share price of Synergy House is RM0.57, representing a market capitalisation of RM285.0 million.
KUALA LUMPUR, Nov 23, 2023 – (ACN Newswire) – Daythree Digital Berhad (“Daythree” or the “Group”), a leading Global Business Services (“GBS”) provider, has announced a robust year-to-date (“YTD”) revenue of RM66.3 million, eclipsing the total revenue of RM65.1 million for FY2022. This impressive performance is anchored by the Energy and Utilities segment, contributing RM28.9 million, or 43.6% of the total revenue, demonstrating Daythree’s resilient revenue growth amidst challenging market conditions.
Managing Director of Daythree, Mr. Raymond Davadass
Daythree reported a gross profit of RM5.0 million in Q3, down from RM6.3 million in the preceding quarter. This is primarily attributed to an increased in people costs associated with the expansion of two new revenue streams of an existing client.
The Group’s profit before taxation (“PBT”) stood at RM1.8 million, a decrease from RM3.6 million in the preceding quarter, primarily due to non-recurring listing expenses of RM1.2 million. Excluding the one-off expenses, the adjusted PBT for the current quarter stood at RM 3.0 million and the year-to-date PBT at RM8.8 million.
Daythree’s commitment to diversification is evident in its further business expansion by securing four new clients, including a leading retailer in the region, along with three new clients in the Automotive & Financial Services sectors, which is poised to enhance the Group’s revenue moving forward.
Managing Director of Daythree, Mr. Raymond Davadass expressed optimism, stating, “Our strong YTD performance despite the challenging climate is a testament to our strategic focus and adaptability. With the addition of new brands and clients, including expansion into the Retail and Travel & Hospitality sector, we are setting the stage for continued growth and diversification. Our recent accolades for Industry Excellence at domestic and regional levels, including awards for Best Use of Automation and Data Analytics, Outstanding Tech Company, and Top Investor in Digital GBS, affirm our dedication to innovation and excellence in global business services.”
Daythree’s listing on the ACE Market of Bursa Malaysia on 26 July 2023 further strengthen the Group’s market position. Looking ahead, Daythree is well-positioned for continued growth within the GBS industry, capitalised by the global economic recovery and Malaysia’s strong economic performance. According to Protege Associates Sdn Bhd, the Malaysian GBS industry is expected to expand from RM24.8 billion in 2023 to RM31.7 billion in 2027, a CAGR of 6.3%. Daythree’s innovative digital tools – Daisy, Faith, and Saige – ensure its readiness to meet the evolving demands of the global business landscape.
There are no comparative year-on-year figures as Daythree was only listed on the ACE Market of Bursa Malaysia in July 2023.
As of 23 November 2023, at 12:30 P.M., Daythree’s share price stands at RM0.39, indicating a market capitalisation of RM187.2 million, reflecting the confidence of investors in the Group’s future.
HONG KONG, Nov 23, 2023 – (ACN Newswire) – The “BEA x Blue Cross Insurance 2023 Hong Kong Open Fencing Championships”, the climactic final week of Hong Kong’s fencing competitions, will be held with great fanfare on 25th and 26th November, 2023. Hosted at Hall 11 of AsiaWorld-Expo, the Championships are organised by the Hong Kong Fencing Association (“HKFA”) and co-sponsored by The Bank of East Asia, Limited (“BEA”) and Blue Cross (Asia-Pacific) Insurance Limited (“Blue Cross”).
BEA and Blue Cross have been actively devoting resources to nurture local athletes and support sports development, particularly through their well-established association with the HKFA, working hand-in-hand to promote the sport of fencing and raise public awareness of local athletes. World-class fencers have been invited to the Championships, and nearly 1,000 elite fencers, including 100 overseas participants from 14 countries and regions, such as China, Australia, New Zealand, Korea, Singapore, Chinese Taipei and more, will gather in Hong Kong to vie for the awards. This year, following the award arrangement from last year, the “BEA x Blue Cross Insurance Best Fencer Awards” will be presented, recognising the top 24 athletes for outstanding performances in the Men’s and Women’s Open categories for Epee, Foil and Sabre. The total prize money available amounts to over HKD$100,000.
This year’s tournament will include Men’s and Women’s Open categories and Master categories for Epee, Foil and Sabre, which will capture the excitement and put on display exquisite fencing skills at their best. Additionally, there will be competitions for boys and girls Under-14 categories in Epee, Foil and Sabre, with the aim of nurturing rising stars and providing opportunities for youngsters to experience world-class competitions and present their talent to the world.
Mr. Yang Wing Sun, President of the HKFA, said, “We are honoured to be able to invite top fencers from around the world to participate in this edition of the Championships, and we believe it will be an intense arena of competitive excellence. We would like to express our gratitude to the BEA, Blue Cross and Hong Kong Government for their unwavering support in promoting the development of fencing in Hong Kong, including their strong support for the Hong Kong Open Fencing Championships. This has provided a platform and necessary resources to allow fencers to gain top-class experience and enhance their skills. For fencers of Hong Kong team, the Hong Kong Open Fencing Championships can be regarded as a warm-up match for next year’s Fencing Grand Prix, in preparation for winning Olympic tickets.”
Mr. Adrian Li, Co-Chief Executive of BEA, said, “Hong Kong’s fencers have captured our imaginations with their exceptional and inspiring performances in recent competitions. In collaboration with Blue Cross and HKFA, BEA is honoured to sponsor another year of the Hong Kong Open Fencing Championships, to further engage our community in this thrilling sport. The Bank supports the development of the Hong Kong sports scene and local athletes, and we eagerly look forward to electrifying performances that will bring the joy of sports to the public.”
Ms. Bonnie Tse, Chief Executive Officer of Blue Cross, stated, “This year marks Blue Cross’s eighth consecutive year as the title sponsor of the ‘Hong Kong Open Fencing Championships’. We have witnessed the rise in interest and awareness of fencing in Hong Kong over the years. We are therefore delighted to join force once again with BEA and the HKFA to provide more opportunities for the public to enjoy high-level competitions, support local athletes and sports development, and contribute to the promotion of sports in the community.”
Incorporated in 1918, The Bank of East Asia, Limited (“BEA”) is a leading Hong Kong-based financial services group listed on The Stock Exchange of Hong Kong, with total consolidated assets of HK$872.1 billion (US$111.3 billion) as of 30th June, 2023.
BEA provides a comprehensive range of corporate banking, personal banking, wealth management, and investment services to customers through an extensive network of about 130 outlets covering Hong Kong, the Chinese Mainland, Macau, Taiwan, Southeast Asia, the United Kingdom, and the United States. For more information, please visit www.hkbea.com.
About Blue Cross Insurance
Blue Cross (Asia-Pacific) Insurance Limited (“Blue Cross”) is a subsidiary of AIA Group Limited. With over 50 years of operational experience in the insurance industry, Blue Cross provides a comprehensive range of products and services including medical, travel, and general insurance, which cater to the needs of both individual and corporate customers.
Blue Cross distributes its products through various channels, including AIA agency force, online platform, direct sales, BEA network, insurance agents and brokers, as well as travel agencies.
In 2023, Blue Cross is assigned the Financial Strength Rating of A+ / Stable and Issuer Credit Rating: A+ / Stable by S&P. For more information about Blue Cross, please visit www.bluecross.com.hk.
Appendix 1: “BEA x Blue Cross 2023 Hong Kong Open Fencing Championships” Schedule*
Competition Date
Categories
Individual Events
Competition Time
25th November, 2023(Sat)
Open Categories
Men’s Epee
9am – 8pm
Women’s Foil
Men’s Sabre
Master Categories
Men’s Epee
1pm – 4pm
Men’s Sabre
4pm – 6pm
Women’s Foil
5pm – 6pm
Under-14 Categories
Women’s Epee
9am – 8pm
Men’s Foil
Women’s Sabre
26th November, 2023(Sun)
Open Categories
Women’s Epee
9am – 8pm
Men’s Foil
Women’s Sabre
Master Categories
Women’s Epee
3pm – 6pm
Men’s Foil
Under-14 Categories
Men’s Epee
9am – 8pm
Women’s Foil
Men’s Sabre
*Please visit Hong Kong Fencing Association website (www.hkfa.org.hk) for details.
KUALA LUMPUR, Nov 23, 2023 – (ACN Newswire) –Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (“Hektar REIT”), today reported a resilient financial performance for the third quarter ended 30 September 2023 (“Q3 2023”). The REIT showcased a sustained commitment to financial stability and strategic growth in a challenging economic environment. In Q3 2023, Hektar REIT achieved a total revenue of RM27.8 million and an NPI of RM15.4 million. The Net Property Income (NPI) margin stood strong at 55.4%. These figures reflect the REIT’s adept handling of market volatilities and its dedication to operational efficiency.
En. Johari Shukri Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd.
In addressing the challenges posed by increasing operational costs during Q3 2023, the Manager actively reinforces the REIT’s financial standing and amplifies profitability through sound capital management initiatives by demonstrating fiscal prudence. The REIT has successfully reduced its gearing ratio to 44.3% in the current quarter, down from 44.6% as of 31 December 2022, via a targeted debt reduction program.
Furthermore, the Manager continues to embrace an assertive and strategic leasing approach. The REIT has elevated the overall occupancy rate of its retail asset portfolio to 87.7% during the third quarter of 2023. Three of the malls under the portfolio, Mahkota Parade & Wetex Parade, recorded an occupancy rate of more than 93% and Kulim Central recorded close to 98%. Overall, rental reversions for the quarter were positive. These proactive measures are poised to enhance the tenancy mix, positioning the REIT for anticipated revenue growth in the upcoming quarters.
In a landmark move announced in September 2023, Hektar REIT has broadened its investment horizon with the proposed strategic acquisition of Kolej Yayasan Saad Melaka (KYSM), a renowned private boarding school located in Ayer Keroh, Melaka. This proposed acquisition, which is valued at RM150 million marks a significant pivot towards educational assets, diversifying Hektar REIT’s portfolio beyond its traditional retail focus. KYSM, established in June 1995, stands out as a top-tier institution, consistently ranked among the best for Sijil Pelajaran Malaysia (SPM) results.
The proposed acquisition of KYSM is not just a diversification move but also a strategic investment providing a sustainable and resilient income source. With a 30-year Quadruple-Net lease agreement that includes a guaranteed step-up yearly return, this investment promises a steady and potentially growing income stream for Hektar REIT. This acquisition is strategically financed through a balanced mix of Proposed Placements, internally generated funds, and borrowings. This approach ensures that the REIT maintains a healthy gearing ratio, preserving financial flexibility and stability while embarking on this significant expansion.
Hektar REIT’s commitment to Environmental, Social, and Governance (ESG) practices has again been prominently recognized in the industry. The organization’s conscientious approach to sustainability and corporate responsibility culminated in Hektar REIT receiving two Gold Awards at The Edge Malaysia ESG Awards 2023. These prestigious awards were for Outstanding ESG & Dividend Return Award and the Real Estate Investment Trust (REIT) Award.
This is a testament to Hektar REIT’s leadership in integrating ESG principles into its business model. The Awards were in collaboration with Bursa Malaysia, FTSE Russell & Morningstar and were designed to highlight and celebrate companies that exemplify outstanding ESG practices. Hektar REIT’s success in these categories demonstrates its effective integration of ESG considerations in its operational and strategic decisions. The recognition reflects the company’s dedication to creating sustainable value for stakeholders while contributing positively to environmental stewardship, social responsibility and ethical governance.
En. Johari Shukri Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd. said: “Hektar REIT’s malls, strategically positioned as neighbourhood and community hubs, have been the focal point of our success. Our unwavering commitment to enhancing the overall tenancy mix and occupancy levels at our malls reflects our dedication to our niche market.
This strategic move involves remixing tenancies by introducing new, vibrant tenants to complement our existing offerings. We are confident that this initiative will not only meet but exceed the expectations of our loyal patrons. Our primary focus remains on implementing targeted strategies to improve visitor footfall and create a sustained positive cycle for our malls and retailers. Our overall committed occupancy currently stands at 88.4%, and we are positive we will surpass the 90% mark by the end of this year. We believe in initiatives yielding long-term benefits and ensuring continuous growth, ultimately delivering sustainable returns to our Unitholders.”
KUALA LUMPUR, Nov 22, 2023 – (ACN Newswire) –KJTS Group Berhad (“KJTS” or the “Company”) and its subsidiaries (collectively referred to as “KJTS Group” or the “Group”), a building support services provider in Malaysia, Thailand and Singapore, are pleased to announce its approval to list on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Malaysia”). The Company is set to offer a total of approximately 218.03 million new ordinary shares, representing 31.69% of its enlarged issued share capital of 688.00 million ordinary shares, in its upcoming initial public offering (“IPO”).
Since 1984, KJTS Group has evolved significantly over the years. The leadership of the current management team of the Group has been instrumental in shaping KJTS Group’s growth. Today, KJTS Group’s operations extends across Malaysia, Singapore, and Thailand. The Group’s core expertise lies in delivering cooling energy, cleaning, and facilities management services. This includes comprehensive range of cooling energy services which include cooling energy management and engineering, procurement, construction and commissioning of cooling energy systems services, alongside general and specialised cleaning services, and FM services that cover the repair and maintenance of mechanical and electrical machinery and equipment, process utilities, and food and beverage and retail outlet equipment. The services that KJTS Group provides are synergistic as cooling energy, cleaning and facilities management services are necessary for the proper functioning of many types of buildings, including commercial properties such as shopping complexes and offices, manufacturing facilities and institutional buildings such as universities and hospitals.
According to KJTS’ draft prospectus for the IPO posted on the Bursa Malaysia Berhad’s website, the listing exercise involves the IPO of approximately 218.03 million new ordinary shares or 31.69% of the enlarged issued share capital with no offer for sale.
The new ordinary shares will be offered in the following manner:
1. Retail offering of 49.40 million new ordinary shares, representing 7.18% of the enlarged issued shares:
a. 34.40 million new ordinary shares for application by the Malaysian public via balloting, of which 17.20 million new ordinary shares (representing 2.50% of the enlarged issued shares) are reserved for application by Bumiputera investors including individuals, companies, societies, co-operatives and institutions;
b. 15.00 million new ordinary shares reserved for application by the eligible directors, eligible key senior management, eligible employees and persons who have contributed to the success of the Group.
2. Institutional offering of approximately 168.63 million new ordinary shares representing 24.51% of the enlarged issued shares to institutional and selected investors.
Managing Director of KJTS Group, Mr. Lee Kok Choon (“KC Lee”), commented on the milestone, saying, “We are grateful to the Bursa Malaysia for their approval of our IPO on the ACE Market. This listing is a pivotal step in elevating KJTS’ profile and further extending our market reach across Malaysia, Singapore, and Thailand. The IPO also opens doors to capital markets, enabling us to secure funding for our next phase of growth and expansion, particularly in our cooling energy segment.”
KC Lee further added, “The funds raised will significantly contribute to our strategic plans, including the expansion of our cooling energy segment in Malaysia and our operational presence in Malaysia, Singapore and Thailand. This move aligns with our long-term vision to solidify the Group’s position as a leading provider in the building support services industry.”
SINGAPORE, Nov 17, 2023 – (ACN Newswire) – The Board of Directors (the “Board”) of Kitchen Culture Holdings Ltd. (the “Company” or “Kitchen Culture”) wishes to announce that following the Extraordinary General Meeting of the Company (“EGM”) held on 17 November 2023, at 9.00 a.m. in the Grand Copthorne Waterfront Hotel, the following two resolutions were passed and adopted by shareholders of the Company:
1. Ordinary Resolution: Appointment of Foo Kon Tan LLP as the statutory auditor of the Company
2. Special Resolution: Change of name of the Company from “Kitchen Culture Holdings Ltd.” to
“SDAI Limited”
At the EGM, 99.997% of the approximately 184.59 million votes represented, were cast in favour of the two resolutions and the resolutions were duly passed.
“Through the effective stewardship of the new Board, a new statutory auditor of the Company has now been appointed, filling the void following the cessation of the previous auditor. This is a significant and necessary step forward in getting the Company back on the path of accountability, restoration and fulfilling all its statutory responsibilities to shareholders.” said Mdm Hao Dongting, Executive Chairperson of the Board.
“With the new management in place, we are actively working to chart a new path for the Company by pursuing various strategies going forward, including a new name for the Company as a testament and reflection of the positive developments being undertaken in our new growth trajectory.”
“Holding the EGM marks a vital milestone towards the Board’s ultimate goal of obtaining SGX approval for the resumption of trading of the Company’s shares. We would like to assure shareholders that we are steadily making progress to create long-term value for the Company and we thank them for their continued trust and patience in us in overcoming the many obstacles during the tumultuous period of the Company’s history.” added Mdm Hao.
Background
Kitchen Culture was listed on the SGX-Catalist on 22 July 2011. The Company previously specialised in the sale and distribution of a wide range of premium imported kitchen systems, appliances, wardrobes systems, household furnishings and accessories from Europe and the USA. The Company worked closely with developers to market “higher-end” residential projects. Since 12 July 2021, the Company’s shares have been suspended due to a variety of issues including non-compliance and systemic internal failures.
Appointment of new Statutory Auditor, Foo Kon Tan LLP
The appointment of the new statutory auditor of the Company is a significant milestone accomplished by the present Board to rectify historical breaches of the Company, signifying a major step to work towards resumption of trading of the Company’s shares. Prior to this, the Company had failed to secure a statutory auditor when the previous auditor, Nexia TS Public Accounting Corporation (now known as CLA Global Public Accounting Corporation), did not seek re-appointment at the last Annual General Meeting of the Company held on 18 March 2022 for the financial year ended 30 June 2021. Consequently, the Company has failed to comply with the requisite listing rules of SGX and is in breach of statutory requirements under the Companies Act 1967 of Singapore for filing of statutory accounts and convening of shareholders’ meeting.
Change of the Company’s name to “SDAI Limited”
The change of the Company’s name from “Kitchen Culture Holdings Ltd.” to “SDAI Limited” will reflect the Company’s strategic direction and business activities going forward. This will enable the Company to create a new corporate identity for itself and develop a new positioning in the market, allowing the public and the Company’s business partners to better identify with the Company under this new name moving forward.
Going Forward
The Company will lodge the requisite statutory returns with the Accounting and Corporate Regulatory Authority of Singapore (“ACRA”) to effect the change of name of the Company from “Kitchen Culture Holdings Ltd.” to “SDAI Limited”. Upon the lodgement of the requisite statutory returns with ACRA, the Company shall adopt the name “SDAI Limited” as its new name and the name “SDAI Limited” shall replace all references to “Kitchen Culture Holdings Ltd.”.
The Company has also been working hard to accelerate the process of completing the Independent Special Audit being conducted by Deloitte & Touche Financial Advisory Services Pte. Ltd. by the end of the year, in compliance with statutory requirements, and is another key factor in the resumption of trading of the Company’s shares.
Change of Continuing Sponsor to ZICO Capital Pte. Ltd.
With effect from 1 November 2023, the Company has appointed ZICO Capital Pte. Ltd. as its new continuing sponsor in place of the previous continuing sponsor, SAC Capital Private Limited. The change of continuing sponsor is due to commercial reasons.
This media release is to be read in conjunction with the Company’s announcement on the results of the EGM held on 17 November 2023 released on SGXNET on 17 November 2023.
This media release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, ZICO Capital Pte. Ltd. (the “Sponsor”), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) Listing Manual Section B: Rules of Catalist.
This media release has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this media release, including the correctness of any of the statements or opinions made or reports contained in this media release.
The contact person for the Sponsor is Ms Goh Mei Xian, Director, ZICO Capital Pte. Ltd. at 77 Robinson Road, #06-03 Robinson 77, Singapore 068896, telephone (65) 6636 4201.
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