Singapore-based Elite Partners Capital acquires Automotive Giant’s Global Logistics Center in close proximity to Stuttgart, Germany

SINGAPORE, June 27, 2024 – (ACN Newswire) – Elite Partners Capital announced its latest logistics acquisition in close proximity to Stuttgart, the automotive capital of Germany.

The large-scale multi-user logistics park located within Ettlingen West’s Industrial Zone boasts outstanding transportation infrastructure, including direct connections to the A5, A8 and A65 motorways, access to the Port of Karlsruhe – a major inland port along the Rhine waterway, as well as proximity to major international airports in Frankfurt and Stuttgart. The logistics park is also well-served by local buses and the suburban railway network, ensuring availability of a skilled workforce for warehouses and offices located in and around the property.

Spanning across a large site of c.180,000 sqm, the logistics park is in excellent condition and offers great third-party reusability by virtue of its contiguous but highly flexible layout. Leveraging on its strategic location in close proximity to Stuttgart, over 85% of the property’s net lettable area is currently tenanted to an automotive giant on a long lease, serving as their global logistics center. Elite Partners Capital will be working closely with the tenant to further enhance the property’s ESG specifications over the upcoming years. Post-enhancement, the property is expected to attain DGNB Gold Certification. The logistics park’s remaining lettable areas are tenanted to a good mix of innovative engineering businesses, supporting the region’s next-gen industrial growth.

Elite Partners Capital acquired the logistics park through its flagship Elite Logistics Fund II, a Pan-European logistics fund backed by a sovereign wealth fund alongside a strong network of family offices across Asia. Elite had previously divested the first installment of its Logistic Fund Series (Elite Logistics Fund I) to Blackstone in 2021, achieving an attractive IRR of over 30%.

“We have been closely monitoring the logistics market across Pan-European cities, targeting quality assets with strong tenant covenants and compelling value-add opportunities”, said Victor Song, co-founder and chief executive officer of Elite Partners Capital. “The stabilizing interest rates presents a strategic window of opportunity for our investors to re-enter the market,” added Song.

The asset was sold by a joint venture between TPG Angelo Gordon and aam2core Holdings AG. The landmark transaction was brokered by CBRE’s Capital Markets team in Germany. Taylor Wessing, Alvarez and Marsal and TA Europe were the appointed advisers for Elite Partners Capital in this transaction. Their invaluable practical and commercial insight were crucial in ensuring the successful closure of the deal.

About Elite Partners Capital

Elite Partners Capital is an alternative investment manager specializing in niche opportunities and underserved markets. The firm is headquartered in Singapore, with offices in London, Prague, and Luxembourg. To date, the firm has managed assets in excess of S$2 billion across 7 countries, a 420% increase from where it started in 2017.

For Media Enquiries, Please Contact:
Orphelia Huang
AVP, Investor Relations
orpheliahuang@elitepartnerscapital.com

High-resolutions images can be downloaded here.

Grand Ming Group Holdings Limited Announces Annual Results for the Year Ended 31 March 2024

Highlights
– Revenue amounted to HK$532.7 million, a decrease of 89.4% from the previous financial year.
– Net profit for the year was HK$298.5 million, representing a decrease of 76.6%.
– Strive to develop the two new data centres in Fanling.
– Continue to sell the remaining units of The Grand Marine and Cristallo.

HONG KONG, June 26, 2024 – (ACN Newswire) – Grand Ming Group Holdings Limited (the “Company” and together with its subsidiaries, the “Group”, stock code: 1271.HK) today announces its annual results for the year ended 31 March 2024 (“FY 2023/24”).

In FY 2023/24, consolidated revenue amounted to HK$532.7 million (FY 2023/24: HK$5,004.6 million), representing a decline of 89.4% as compared to FY 2023/24. The consolidated gross profit also decreased 91.5% to HK$168.6 million (FY 2023/24: HK$1,987.8 million). These are primarily due to a substantial decrease in the number of properties sold from property development projects during the year under review. Net profit for FY 2023/24 decreased by 76.6% to HK$298.5 million (FY 2023/24: HK$1,275.5 million). Excluding the change in fair value of investment properties, the Group recorded an underlying loss of HK$85.7 million in FY 2023/24, as compared to an underlying profit of HK$1,299.3 million in FY 2023/24.

A final dividend for the year ended 31 March 2023 of 5.0 HK cents per share and a special dividend of 15.0 HK cents per share were paid to the shareholders of the Company on 18 September 2023. An interim dividend for the six months ended 30 September 2023 of 4.0 HK cents per share was paid to Shareholders on 20 December 2023. With challenging market landscape, the Board does not recommend payment of a final dividend for the year ended 31 March 2024.

The Group has demonstrated a high level of expertise in initiating and executing property development projects. At present, the Group’s property development projects for sale include “The Grand Marine” at No.18 Sai Shan Road, Tsing Yi, and “Cristallo” at No. 279 Prince’s Edward Road West.

The residential development project “The Grand Marine” is located at No. 18 Sai Shan Road, Tsing Yi, the New Territories. It offers 776 units with a total gross floor area of approximately 400,000 square feet. This project has been well received by the market, with over 98% of the units sold cumulatively.

The residential-cum-commercial development project “The Grands”, located at No. 45 Pau Chung Street, To Kwa Wan, Kowloon, provides 76 residential units with commercial shops on the ground and first floor covering a total gross floor area of approximately 31,000 square feet. This project was also well received and all residential units had been sold. Around 31% of the units were handed over to the buyers during FY 2023/24.

The Group continued to execute its two property development projects includes a site located at No.1 Luen Fat Street, Fanling and No. 66 Fort Street and No. 57 Kin Wah Street, North Point respectively.

The site situated at No.1 Luen Fat Street, Fanling, the New Territories, is developing into a 17-storey residential-cum-commercial tower with a total gross floor area of approximately 36,000 square feet. The Group had agreed to the provisional basic terms of the proposed in-situ land exchange and is currently negotiating the land premium with the Hong Kong Government. Meanwhile superstructure works is underway and the development is scheduled to be completed in or around mid-2025.

The project in North Point comprises two sites at No. 66 Fort Street and No. 57 Kin Wah Street, North Point, Hong Kong, with a total gross floor area of approximately 30,000 square feet. The site at No. 57 Kin Wah Street will be developed into a 27-storey residential tower, while the site at No. 66 Fort Street will be developed into a single-storey commercial shop. Foundation works are underway and the project is expected to be completed in or around the second half of 2027.

The balanced portfolio development initiative also includes geographical footprint expansion. The Group’s development project in Mainland China is located in the Guangxi-ASEAN Economic and Technological Development Zone, Wuming District, Nanning City, Guangxi Province, with a gross floor area of approximately 1,435,000 square feet. It will be a luxury residential project with a leisure and healthy lifestyle theme, comprising high-rise apartments and villas, complemented by facilities including commercial and a wellness centre. It will target at the elderly, retirees and their families. Superstructure works for the high-rise apartments and basement works for the remaining part of the site are now underway. The development is expected to be completed in or around the second half of 2026.

The Group currently owns two data centres, iTech Tower 1 and iTech Tower 2. Revenue from its leasing business increased by 14.4% year on year to HK$268.8 million. This was mainly due to an overall increase in the amount of space occupied and increased power consumption by customers.

The projects at No. 3 On Kui Street and No. 8 On Chuen Street in Fanling, New Territories are now known as “iTech Tower 3.1” and “iTech Tower 3.2” respectively, with an aggregate gross floor area of approximately 186,000 square feet. The land swap for both sites has been completed and the land premium has been fully settled.

The infrastructure and power supply of both iTech Tower 3.1 and 3.2 are designed to accommodate cloud computing and AI workloads. The superstructure of iTech Tower 3.1 has been completed and the installation of electrical and mechanical equipment and internal fit-out is now underway. During the year, this data centre was committed to a single customer under a long-term contract and is scheduled for phased delivery from mid-2025. Foundation work for iTech Tower 3.2 is well underway and the development is expected to be completed in or around 2026.

Mr. Chan Hung Ming, Chairman and Executive Director of Grand Ming Group Holdings concluded, “Our successful business evolution and transformation into a property development company gives us the confidence to address macro trends and market dynamics in a challenging economic environment. Our balanced operating and property portfolio, demand-driven development pipeline, committed management and continuous evolutionary mindset position us well to weather the current volatility while staying the course to drive future growth and value creation.”

“We continue to operate in a challenging environment in the reporting year. The uncertain economic outlook and persistently high interest rates have slowed the recovery of the local economy and property market. On 28 February 2024, the Hong Kong government announced the cancellation of all demand-side management measures for residential property, the suspension of the mortgage stress test and the relaxation of the mortgage loan-to-value ratio. All these measures improved market sentiment and led to an increase in the volume of residential property transactions. Seizing this opportunity, we successfully sold all the units of ‘The Grands’ and most of the remaining units of ‘The Grand Marine’. The proceeds from the property sales were used to replenish the Group’s working capital and to repay existing bank loans. We will continue to sell the remaining units of ‘The Grand Marine’ and ‘Cristallo’. Development of iTech Tower 3.1 and 3.2 is on schedule. We are committed to meeting our customers’ stringent requirements and delivering iTech Tower 3.1 on time. Meanwhile, we are working to secure customers for iTech Tower 3.2. We continue to improve and upgrade the existing facilities at iTech Tower 1 and 2 to provide reliable services and meet customer needs. As construction labour and material costs remain high, our construction team will focus on internal construction projects for our data centre leasing and property development segment.”

About Grand Ming Group Holdings Limited (Stock code: 1271.HK)

The Group is principally engaged in the business of property development and property leasing, as well as building construction. As a local wholesale co-location provider of high-tier data centres, the Group is one of the dedicated service providers in Hong Kong which owns and uses the entire building for leasing to customers for data centre use. Its clientele includes multinational data centre operator, telecommunications company and financial institutions. The Group owns two high-tier data centre buildings, namely iTech Tower 1 and iTech Tower 2. It also acquired two pieces of land in Fanling, the New Territories for developing into two high-tier data centres which have been named as iTech Tower 3.1 and 3.2. Furthermore, the Group’s property development projects for sale include “The Grand Marine” at No.18 Sai Shan Road, Tsing Yi, “The Grands” at No. 45 Pau Chung Street, To Kwa Wan and “Cristallo” at No. 279 Prince’s Edward Road West. Besides, property development in progress includes a site located at No.1 Luen Fat Street, Fanling and a site located at No. 66 Fort Street and No. 57 Kin Wah Street, North Point. In Mainland China the Group owns a piece of land at Guangxi-ASEAN Economic and Technological Development Zone, Wuming District, Nanning City, Guangxi Province for development into a luxury residential project under the theme of leisure and healthy lifestyle.

Media Contacts:
Angel Yeung | Jovian Communications Ltd | Email: news@joviancomm.com

ONERHT Foundation’s 7th GAIL Forum highlights urgent need to incorporate sustainability into everyday practices and company culture

SINGAPORE, June 26, 2024 – (ACN Newswire) – ONERHT Foundation Ltd (“Foundation”), the corporate social responsibility vehicle of RHTLaw Asia LLP and the RHT Group of Companies (collectively, “ONERHT”), successfully concluded the 7th edition of its Greening ASEAN: Initiatives & Leadership (GAIL) forum on 25th June 2024, held at the Suntec Singapore Convention & Exhibition Centre.

Guest-of-Honour Mr Chee Hong Tat, Minister for Transport and Second Minister for Finance, and Ms Kaylee Kwok, Chairman of ONERHT Foundation at the ONERHT Foundation GAIL Forum 2024 [L-R]

Guest-of-Honour Mr Chee Hong Tat, Minister for Transport and Second Minister for Finance, delivered the opening remarks, emphasising the need to develop innovative solutions and new technologies to ensure that the green transition costs remain affordable.

This year’s event brought together over 120 attendees, including business and industry leaders and sustainability domain experts, providing a platform for sharing expertise, experience and practical strategies.

Kaylee Kwok, Chairman of ONERHT Foundation, said, “At GAIL 2024, we witnessed the power of collaboration and innovation in driving sustainable development across ASEAN. ONERHT Foundation is proud to facilitate these important discussions and support initiatives empowering businesses and communities to embrace sustainable practices for a greener future.”

Expert panellists discussed key sessions that equipped SMEs with strategies to embed sustainability into operations while adapting to new reporting standards like International Sustainability Standards Board (ISSB), explored effective business strategies for navigating the carbon economy with tips on carbon measurement and management, and showcased how Singapore is leveraging AI and data capabilities to pioneer transformative sustainability solutions across industries, from emissions tracking to resource optimisation.

Abe Jacob, Director of RHT Green, said, “This year’s GAIL forum has highlighted the critical need for businesses to integrate sustainability at every level. The discussions on future-proofing SMEs, navigating the carbon economy, and harnessing AI for sustainability were particularly inspiring. Our collective efforts can lead to meaningful change, and I am more optimistic than ever about our ability to build a sustainable future together.”

The GAIL forum, initiated by ONERHT Foundation in 2018, aims to gather relevant expertise, knowledge and practical measures to enable businesses and other stakeholders in ASEAN to respond to the region’s growing call for sustainable development.

With the support of its donors and sponsors, ONERHT Foundation has raised more than S$5 million for over 35 charitable organisations since its inception in 2015. ONERHT, a multidisciplinary network of professional and specialist services, which includes sustainability consultancy RHT Green, remains committed to achieving its net zero carbon goal by 2030.

ONERHT Foundation Ltd

A Singapore registered charity and grant-making philanthropic organisation, ONERHT Foundation Ltd (“Foundation”) enables RHTLaw Asia LLP and the RHT Group of Companies (collectively, “ONERHT”) to do right and do good through various charitable endeavours.

Set up by ONERHT in 2015, the Foundation was registered as a Singapore charity by the Commissioner of Charities and a grant-making philanthropic organisation by the Inland Revenue Authority of Singapore on 16 September 2016 and 28 November 2016 respectively.

The Foundation seeks to establish, inspire and encourage the right philanthropic culture among the corporate and legal fraternity of giving back to the community in a focused, hands-on and meaningful manner. Since its inception, the Foundation has raised more than S$5 million to support more than 30 beneficiaries involved in education, the environment and sustainability, disadvantaged groups as well as the arts and sports.

For more information, please visit www.onerht.foundation

For media enquiries, please contact:
Elliot Siow / Elliot@waterbrooks.com.sg / +65 8375 0417

Expert Systems Announces FY24 Annual Results

HONG KONG, June 26, 2024 – (ACN Newswire) – Expert Systems Holdings Limited (“Expert Systems” or the “Group”; Stock code: 8319), a leading technology and innovation company in the Asia Pacific region, announced the audited annual results of the Company and its subsidiaries (the “Group”) for the year ended 31 March 2024 (the “Reporting Year”).

During the Reporting Year, the Group’s revenue increased by 11.8% to approximately HK$991.0 million driven by the increase in customer demand. Gross profit amounted to HK$152.7 million, representing an year-on-year increase of 9.6%. Gross profit margin remained stable at approximately 15.4% (FY2023: 15.7%). Profit for the year of the Company recorded HK$17.1 million (FY2023: HK$22.7million), representing a decrease of approximately HK$5.6 million year-on-year. The main reason for this decline is that the Group did not receive any COVID-19 relevant government subsidies during the Reporting Year (Relevant government subsidies in FY2023: HK$5.7 million). In additional, we have increased the investment to our AI business in the Reporting Year.

The Board recommends a final dividend of HK0.82 cent (FY2023: HK1.00 cent) per ordinary share, resulting in a dividend payout ratio of 42.86%. The payment of the final dividend is subject to the approval of the shareholders at the forthcoming annual general meeting.

Mr. Andy Lau, CEO and Executive Director of Expert Systems, said: “Despite the challenging business environment, the Group has delivered a resilient performance in FY2024. Leveraging our strong foundation and exceptional products, solutions and services, we have adeptly navigated the dynamic market landscape. Throughout the past fiscal year, our two core businesses have exhibited steady growth, while our AI business has successfully launched new products, starting to contribute to our revenue.”

Business Review

IT Infrastructure Solutions

Regarding the IT infrastructure solutions business, the Group believes that enterprises and institutions will continue to adopt digital transformation to enhance operational efficiency, leading to a strong demand for IT-related one-stop solutions. Particularly, given the escalating cybersecurity incidents, the Group is committed to persistently deploying world-class cybersecurity solutions to safeguard the customers’ valuable IT assets. It is worth mentioning that the Group is customizing robust IT infrastructure tailored for our own developed Generative AI (“GenAI”) applications to meet customers’ diverse needs. To align with market trends and significant demand, the Group will prioritize resources in two key business opportunities of Cybersecurity and GenAI, and strive to provide higher value and more comprehensive total solutions to customers.

IT Infrastructure Management Services

The Group’s IT infrastructure management services business foresees sustained demand across the Asia-Pacific region. This includes IT outsourcing, helpdesk support, workflow automation services, and IT hardware maintenance for enterprises and institutions. The Group plans to extend its services into Managed Professional Service to further enhance its range of managed services offerings. This dedicated facility will leverage the existing resources of its service desk centres, enabling to extension of the managed services from endpoints and devices to encompass network systems and server host systems for valued customers.

The group currently operates service centers in Guangzhou and Kuala Lumpur. The services are provided in seven languages, handling over 60,000 cases per month. The Group plans to expand the capacity of the Guangzhou service desk center and relocate it to a new facility, creating a synergistic effect with the Kuala Lumpur service desk center. This will effectively balance resources across different regions and enhance the ability to provide flexible services to meet diverse customer needs.

AI Business

Regarding the AI business, the Group has successfully developed a range of GenAI products based on cloud and on-premises large language models for its corporate and institutional customers. The Group’s GenAI product series, namely ChatSeries, encompasses a variety of GenAI functions, including ChatEnquiry, ChatSerivceDesk and ChatMinutes etc. During the pre-launch stage of this product series, the group received a large number of inquiries reflecting a fervent market demand. In addition, the Group announced last year the establishment of the strategic partnership with Lenovo Hong Kong, with a specific focus on serving the primary and secondary school market. In fact, the Group has developed the SmartSeries product line, which includes SmartAqua, SmartRetail, and SmartHome, providing AI labs setups and relevent training courses tailored to primary and secondary schools. The group is currently collaborating with Lenovo Hong Kong to jointly market the SmartSeries AI products.

Mr. Lau, concluded: “Looking ahead, besides continue to grow our core businesses in providing one-stop IT solutions for the public and private sectors in the Asia-Pacific region, we will also continue to actively advance our AI products and solutions, aiming to bring strong growth momentum to the group. We are optimistic about the future, and we will eagerly to explore new growth opportunities with an open and innovative mindset, in order to achieve the company’s long-term sustainable development goals.”

About Expert Systems Holdings Limited (Stock code: 8319)

Established since 1985, Expert Systems Holdings Limited (“ESHL”) is a leading technology and innovation company which operates under the brands “Expert Systems”, “ServiceOne” and “Expert AI Enabling” with around 1,000 IT professionals serving small to large enterprises and institutions in the Asia Pacific region. For more information, please refer to ESHL’s website: https://www.expertsystems.com.hk/.

Media Enquiries:
Strategic Financial Relations Limited
Heidi So Tel: (852) 2864 4826 Email: heidi.so@sprg.com.hk
Rachel Ko Tel: (852) 2114 2370 Email: rachel.ko@sprg.com.hk
Maggie Ko Tel: (852) 2864 4890 Email: maggie.ko@sprg.com.hk
Website: www.sprg.com.hk

Ching Lee Holdings (3728.HK) Stays Resilient in Gross Profit with Stress from Rate Hikes and Staff Costs

HONG KONG, June 26, 2024 – (ACN Newswire) – Ching Lee Holdings Limited “Ching Lee” or “The Group” (Stock code 3728.HK) announced its annual results for the year ended 31 March 2024. The Group recorded nearly HK$900 million in revenue for the year, marking a significant year-on-year growth of 26.5%. Gross profit amounted to HK$77 million, representing an increase of 7.3% from the last year, and profit for the year was approximately HK$11 million.

Over the past year, Ching Lee successfully gained several contracts for various construction projects, with revenue from superstructure building works services significantly increasing from approximately HK$610 million last year to over HK$880 million this year. To cope with the added construction projects, the Group has strengthened its workforce team with new hires causing a higher cost of revenue, and the enhanced operations led to an increase in financing needs. A slight decrease in profit for the year was seen, attributable to a substantial increase in finance costs from continuing interest rate hikes.

Mr. Ng Choi Wah, Chairman of Ching Lee, stated, “We are pleased with the financial results for the year. The strong revenue growth demonstrates our robust market expansion and growth capabilities despite the lower net profit impacted by external challenges.”

Looking ahead, the Group will continue to focus on improving operational efficiency and strengthening cost control while actively seeking diversified construction projects. We believe that with the gradual recovery of Hong Kong’s economy and the ongoing development of the Greater Bay Area, along with the government’s various construction initiatives, the construction industry will be offered numerous new opportunities in the future.

Media enquiries:
New Smile Limited Strategic IR & PR Consultancy Telï¼š+852 2126 7076
Jenny Lai, jenny.lai@newsmilehk.com
Richard Wong, richard.wong@newsmilehk.com
Elina Zhang, elina.zhang@newsmilehk.com

Ching Lee Holdings Limited “Ching Lee” or “The Group”

Ching Lee Holdings Limited, a limited liability company incorporated under the laws of the Cayman Islands, is a contractor in Hong Kong with over 25 years of experience in public and private sectors. The principal activities of Ching Lee Holdings and its subsidiaries are the provision of construction and consultancy works and project management services in Hong Kong, engaged in providing substructure building works services, superstructure building works services, and repair, maintenance, alteration and addition (RMAA) works services. Ching Lee Holdings Limited was transferred from GEM board to the main board in HKEx on September 18, 2017 with stock code 3728.hk. Company website: http://www.chingleeholdings.com

Expert Systems Announces FY24 Annual Results

Business Review

IT Infrastructure Solutions

IT Infrastructure Management Services

AI Business

About Expert Systems Holdings Limited (Stock code: 8319)

Accrelist to Leverage on Growing Demand for HDD Solutions with Acquisition of Shares in MClean Technologies

SINGAPORE, June 26, 2024 – (ACN Newswire) – Datuk Dr. Terence Tea Yeok Kian, Executive Chairman and Managing Director of Accrelist Ltd. (“Accrelist”), is pleased to announce that a subsidiary of Accrelist, one of the largest aesthetic groups listed on the Catalist Board of Singapore Exchange (“SGX”), has entered into a sale and purchase agreement to acquire a 28.53% equity stake in MClean Technologies Berhad (“MClean Technologies”, “MClean” or the “Company”). The acquisition is conditional upon the satisfaction (or, where applicable, waiver) of certain conditions precedent.

Datuk Dr. Terence Tea Yeok Kian, the Executive Chairman and Managing Director of Accrelist

This share acquisition underscores Accrelist’s confidence in MClean’s business direction and growth prospects, especially in the growing demand for Hard Disk Drive (“HDD”) solutions, following the significant increase in demand for data centres.

MClean Technologies, headquartered in Singapore, has established itself as a pivotal player in the electronics and semiconductor products cleaning solutions industry. The Company offers a comprehensive range of services, including surface treatment, precision cleaning, sterile, and packaging services for various industries such as HDD, consumer electronics, and oil & gas. MClean Technologies operates in Malaysia, Singapore, and Thailand, providing high-quality and reliable services to its diverse clientele.

Furthermore, MClean’s strong presence in the HDD solutions industry positions it well to capitalise on the growing demand for data centres. Malaysia is seeing significant data centre investments, with Johor emerging as the largest data centre market in the country. Johor is poised to attract RM17.0 billion (US$3.6 billion) in new data centre investments in 2024 alone, according to the news report by New Straits Times, driven by multinational corporations taking advantage of its strategic location and lower operating costs. Major players like Nvidia, AirTrunk, and Microsoft are establishing data centres in the region, further boosting the demand for HDD solutions.

Datuk Dr. Terence Tea Yeok Kian (“Datuk Dr. Terence Tea”), the Executive Chairman and Managing Director of Accrelist, is a distinguished businessman with extensive experience and a proven track record of driving growth and innovation. He holds a Ph.D. in Business Administration (Honorary) from Honolulu University and a Diploma in Electronics and Electrical Engineering from Singapore Polytechnic. Datuk Dr. Terence Tea currently holds several prominent directorships in listed companies, including Executive Chairman and CEO of Jubilee Industries Holdings Ltd. (“Jubilee”) and was previously the Chairman of a publicly listed electronics manufacturing services company in Malaysia.

Executive Chairman and Managing Director of Accrelist, Datuk Dr. Terence Tea commented, “We are excited about Accrelist’s acquisition of shares in MClean Technologies and we look forward to contributing to the Company’s growth and success. The Company has a strong foundation and a dedicated team, and I am confident that together, we can achieve significant milestones and create long-term value for both our shareholders. In particular, we see great potential in expanding into HDD solutions, especially in Malaysia and Thailand, where demand for high-quality precision cleaning services is rapidly growing.”

Following the acquisition of the equity stake in MClean Technologies, there is expected to be synergies between Jubilee, the subsidiary of Accrelist, and MClean Technologies, allowing both companies to leverage on their respective strengths to create cross-selling opportunities and enhance the customer base of both entities. This potential collaboration is expected to drive growth and provide comprehensive solutions to a broader market, further solidifying Jubilee’s presence in the electronics and semiconductor sectors, especially in the storage space sector.

As at 5:00 P.M., 24 June 2024, being the last trading day prior to signing of the sale and purchase agreement, the share price of MClean Technologies closed at RM0.41 representing a market capitalisation of RM80.9 million.

Media contact:
Stephanie Chow
Swan Consultancy
s.chow@swanconsultancy.biz

Systech Signs Collaboration Agreement with EH Integrated Systems to Operate AI Data Centre and Provide Generative AI Digital Solutions

KUALA LUMPUR, June 25, 2024 – (ACN Newswire) – Systech Berhad (“Systech”), a deep-rooted digital corporate solutions provider, is pleased to announce the signing of a Collaboration Agreement (“Agreement”) with EH Integrated Systems Sdn. Bhd. (“EISSB”), a company specialises in the provisioning of industrial-grade servers and storage solutions. This strategic partnership aims to advance the establishment and operation of AI data centres and provide Generative AI digital solutions in Malaysia.

Dato' Derrick Hooi, Executive Director of Systech Berhad; Mr. Sim Chin Yee, Director of EH Integrated System Sdn. Bhd. [L–R] — Dato’ Derrick Hooi, Executive Director of Systech Berhad; Mr. Sim Chin Yee, Director of EH Integrated System Sdn. Bhd. [L–R]

Dato Philip Ng, Executive Director of Systech Berhad; Dato' Derrick Hooi, Executive Director of Systech Berhad; Mr. Sim Chin Yee, Director of EH Integrated System Sdn. Bhd.; Mr. Lee Yong Hou, Business Manager of EH Integrated System Sdn. Bhd. [L–R] — Dato Philip Ng, Executive Director of Systech Berhad; Dato’ Derrick Hooi, Executive Director of Systech Berhad; Mr. Sim Chin Yee, Director of EH Integrated System Sdn. Bhd.; Mr. Lee Yong Hou, Business Manager of EH Integrated System Sdn. Bhd. [L–R]

EISSB, known for its expertise in providing high-performance computing infrastructure and a SuperMicro distributor, is committed to work closely with Systech to integrate innovative technologies and solutions that support efficient and secure high performing AI data centre operations. This collaboration marks a significant milestone towards strengthening Malaysia’s digital transformation and meeting the growing demand for powerful computing power to handle large-scale processing tasks, such as Generative AI digital solutions.

Under this Agreement, Systech will focus in operating AI data centre, hosting and deploying applications and software via the computing power of AI data centre. This includes designing, coding, testing, and maintaining software to ensure compatibility with EISSB’s infrastructure and achieving optimal performance for the Project. Whereas EISSB’s responsibilities include design, implementation and monitoring of the data centre infrastructure, such as storage systems, networking, and cooling systems. Together, Systech and EISSB aims to jointly operate the data centre and provide generative AI computing solutions for the customers.

Executive Director of Systech Berhad, Dato’ Derrick Hooi commented, “This partnership represents a pivotal move in our strategic growth plan. By leveraging our expertise in Internet of Things (“IOT”), Digital Transformation and Automation and Cybersecurity, and with the support of EISSB high-performance AI data center infrastructure, we are poised to deliver superior Artificial Intelligence (“AI”) data centre and AI digital solutions that will enhance our service offerings and drive our expansion into new markets. We look forward to a successful collaboration that will unlock potential of both companies”.

Mr. Sim Chin Yee, Managing Director of EH Integrated Systems, added, “We are thrilled to join forces with Systech in this venture. Our expertise in high-performance computing and custom software development, combined with Systech’s capabilities in system integration and cybersecurity, we will not only meet the increasing demands for data processing and storage but also drive the advancement of Malaysia’s digital ecosystem.

As at 5:00 P.M., 24 June 2024, the share price of Systech Berhad closed at RM0.44, representing a market capitalisation of RM283.6 million.

Systech Berhad [SYTC MK][SYSTECH MK], https

AGAPE ATP Corporation Explores Energy-Saving Solutions with B&H Intec Solutions

KUALA LUMPUR, June 21, 2024 – (ACN Newswire) – NASDAQ-listed AGAPE ATP Corporation (“ATPC”), is delighted to announce the relaunch of its subsidiary, now named ATPC Green Energy Sdn. Bhd. (“ATPC Green Energy”). ATPC had entered into a collaboration agreement yesterday, with B&H Intec Solution Sdn Bhd (“B&H”), a total building solutions provider, with a focus on delivering comprehensive energy-saving solutions, aligning with ATPC’s commitment to driving green energy initiatives.

From left: Vincent Tan, Vice President of ATPC, Ting Wan Lock, Head of Corporate Finance, and Prof Dato' Sri Dr How Kok Choong, Founder and Global Group CEO of ATPC; and Chen Wei Kent, CEO of B&H, Chung Wooi Hen, Sales Director of B&H and Khor Hock Thong, Marketing Director of B&H — From left: Vincent Tan, Vice President of ATPC, Ting Wan Lock, Head of Corporate Finance, and Prof Dato’ Sri Dr How Kok Choong, Founder and Global Group CEO of ATPC; and Chen Wei Kent, CEO of B&H, Chung Wooi Hen, Sales Director of B&H and Khor Hock Thong, Marketing Director of B&H

B&H brings over 14 years of experience in facilities mechanical and electrical (M&E) services, specialising in building tailored green retrofits and building maintenance. The company has a portfolio of more than 1,000 customers in Malaysia, including luxury hotels, major banks, transportation hubs, government buildings, office towers, mega shopping malls, and healthcare centres. Known for integrating the latest sustainable technologies into building management solutions, B&H’s expertise in monitoring systems, energy-saving retrofit and upgrading, preventive maintenance service, energy-saving consulting and outsourcing services will be instrumental to ATPC Green Energy. Accumulatively, B&H has already achieved contract values of more than USD 10 million (approximately MYR 47 million), underscoring their capability and trust within the industry.

Mr. Chen Wei Kent, Chief Executive Officer (“CEO”) of B&H said, “The potential in the energy-saving space is vast and untapped. Matching the right M&E services to different companies can result in a substantial reduction in energy consumption, or in other cases, a comprehensive green retrofit solution can improve a building’s energy efficiency and reducing its carbon footprint.

“The collaboration with ATPC will raise our profile, and it will allow us to continue to support more companies in achieving their energy-saving goals. With Malaysia’s energy demand projected to increase by 4.8% by 2030 and electricity demand growing faster than primary energy production, the need for alternative energy sources and energy-saving measures is urgent. In 10 years, Malaysia’s energy demand is expected to rise significantly, from 96.3 terawatt-hours to 206 terawatt-hours (TWh).”

In this collaborative arrangement, B&H’s founder and management team will join ATPC Green Energy as executive officers, leading the energy-saving solutions portfolio. They will also become shareholders in ATPC Green Energy, gaining an equity stake of 30%. This partnership allows ATPC Green Energy to leverage B&H’s expertise, customer base, and leadership, while aligning the interests of B&H’s founders through shareholding, supporting the long-term growth of the energy-saving solutions business.

Prof Dato’ Sri Dr How Kok Choong, the Founder and Global Group CEO of ATPC, explains, “We aim to address this urgent energy demand by providing innovative energy-saving solutions across major sectors, leveraging the extensive expertise of B&H leadership team. By combining our resources and expertise, ATPC Green Energy is well-positioned to drive energy efficiency initiatives across multiple sectors.”

“ATPC Green Energy is looking to provide innovative energy-saving solutions to various sectors, including hospitality, insurance, government, semiconductor, retail, and manufacturing, and we are pleased to have the strong support of B&H as we strive to achieve our mutual goals. Collaboratively, we are in the midst of pitching for a USD 2.0 million project, and we are optimistic about our prospect.” How added.

ATPC’s commitment to the UN Sustainable Development Goals drives the company to build a comprehensive renewable energy ecosystem in ASEAN. This includes energy-saving solutions, solar projects, and other renewable technologies. The Company hopes to develop a diverse portfolio, expand its energy-saving offerings, foster partnerships, and achieve a significant market share in the region.

NEXX officially introduces CK Asset Holdings Limited as a shareholder

HONG KONG, June 21, 2024 – (ACN Newswire) – The smart logistics technology company NEXX officially announced today that it has successfully introduced CK Asset Holdings Limited (hereinafter referred to as “CK Asset”) as a shareholder, and the two parties will jointly promote the intelligent development in logistics industry.

CK Asset Holdings Limited is a leading multinational conglomerate committed to achieving long-term sustainable growth through continual strengthening of its existing property businesses, and steady enhancement of its recurring income base via a prudent global investment strategy.

CK Hutchison Holdings Limited, also a member of the CK Group, is among the largest companies listed on the Main Board of the Hong Kong Stock Exchange. The group has four core businesses: ports and related services, infrastructure, telecommunications and retail (AS Watson Group).

Through reshaping the high-quality operating model of the logistics industry, NEXX provides more flexible, cost-effective, and scalable inventory solutions to enterprises and logistics users which assists them in reducing costs, improving operational efficiency and accuracy. The introduction of CK Asset as a shareholder marks a milestone in NEXX’s development and will increase investment in logistics AI research and development, actively layout the global market, and consolidate its competitive position in smart logistics.

About NEXX:

NEXX is the first smart logistics technology platform that provides iWaaS (intelligent Warehouse-as-a-Service) with a logistics LLM as the core.

For Press Enquiries:

Ms. Crystal Yip	Ms. Chelsie Tam
Tel: 9587 3234 / 3461 3661	Tel: 6094 3336 / 3461 3750
Email: crystalyip@nexx-global.com	Email: chelsietam@nexx-global.com