Tag: Daily Finance

SCIB Posts Revenue of RM32.4 Million for 3Q

KUCHING, MALAYSIA, May 25, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Group recorded a revenue of RM32.4 million for the third quarter ended 31 March 2023 (3Q FY2023) compared with a revenue of RM37.5 million for the corresponding quarter of the previous financial year.
En. Rosland Bin Othman, Group Managing Director of Sarawak Consolidated Industries Berhad


For the quarter under review, the Company registered a profit before tax (PBT) of RM0.2 million compared with a loss before tax (LBT) of RM2.0 million in the corresponding quarter 3Q FY2022. For the nine-month period ended 31 March 2023 (9M FY2023), SCIB recorded RM98.7 million in revenue compared with RM102.2 million in the corresponding period of the previous financial year. For 9M FY2023, the Group's LBT narrowed to RM3.5 million compared with LBT of RM6.0 million in 9M FY2022.

On a segmental basis, the manufacturing division, which produces precast concrete and Industrialised Building System (IBS) building materials, recorded revenue of RM23.2 million in 3Q FY2023 compared with RM22.1 million in 3Q FY2022 and PBT of RM2.7 million compared with RM0.7 million. In 9M FY2023, the manufacturing segment recorded a cumulative revenue of RM68.9 million, as compared to RM64.9 million in 9M FY2022 and PBT RM4.8 million compared with RM0.97 million.

The engineering, procurement, construction, and commissioning (EPCC) division recorded a revenue of RM9.2 million in 3Q FY2023 compared with RM15.1 million in 3Q FY2022 and PBT of RM0.009 million compared with LBT of RM0.66 million. The EPCC segment registered a cumulative revenue of RM29.4 million in 9M FY2023 compared with RM36.6 million with a cumulative LBT of RM1.44 million compared with LBT of RM1.74 million.

Group Managing Director of SCIB, Encik Rosland bin Othman ("En. Rosland"), said, "The contribution to revenue in the quarter was mainly driven by the increase in sales of foundation piles while the improvement in PBT was mainly due to margins from the sales of precast concrete products. We have also seen an improvement over the nine-month period as our LBT has narrowed significantly."

"The Company will continue to leverage on its EPCC expertise to actively pursue leads for small-to-mid-sized construction projects across Malaysia where it has a niche and supported by our manufacturing division's ability to supply precast and IBS building materials together with building technology."

As at the end of 3Q FY2023, the SCIB's order book stood at a cumulative contract value of RM495.3 million.

In a separate announcement, the Company has appointed Ms. Toh Beng Suan as an independent non-executive director today. As a lawyer with over 20 years of experience, she has advised on the development, construction, financing, operation, and maintenance of some of the largest and most complex infrastructure projects in Malaysia and in the Asian and Middle East regions, as well as construction law and various forms of construction and engineering contracts.

"SCIB is cognisant of the need to be inclusive and will deeply benefit from having Ms. Toh on board, where she is a representative of how capable women can play more important and growing roles in decision-making within the Company," said En. Rosland.

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

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

Synergy House Posts Revenue of RM51.6 Million in 1Q FY2023

SHAH ALAM, Malaysia, May 25, 2023 – (ACN Newswire) – Synergy House Berhad, a cross-border e-commerce seller and furniture exporter of ready-to-assemble (RTA) home furniture, announced today that the Group recorded revenue of RM51.6 million for the first quarter ended 31 March 2023 (1Q FY2023) from sales in the business-to-business (B2B) and business-to-consumer (B2C) market segments.
Executive Director of Synergy House, Mr. Tan Eu Tah

Executive Director of Synergy House, Mr. Teh Yee Luen


For 1Q FY2023, the Group registered profit before tax of RM3.6 million and profit after tax of RM2.6 million. There are no comparative figures for 1Q FY2023 as this is the first interim financial report that Synergy House is announcing in compliance with the listing requirements of the ACE Market of Bursa Malaysia Securities Berhad.

The Group's B2B segment recorded a revenue of RM27.4 million or approximately 53.10% of the Group's total revenue while the B2C segment recorded a revenue of RM24.2 million or approximately 46.90% of the Group's total revenue in 1Q FY2023. In comparison, the B2C segment's contribution towards total revenue in the full financial year 2022 was at 25.57%. On a geographical basis, the United States of America was the Group's largest market, contributing to approximately 49.47% of the Group's revenue in 1Q FY2023.

Executive Director of Synergy House, Mr. Tan Eu Tah said, "As the Group enters the final stages of its initial public offering (IPO) journey, we want to reiterate that there is long-term potential in the B2C market segment for RTA home furniture. Synergy House is currently in market expansion mode whereby we are focusing on investing in our B2C sales channel aggressively for wider market outreach. For the first quarter ended 31 March 2023, we have achieved total B2C revenue of RM24.2 million, which is close to 50% of our total B2C revenue for the full financial year ended 31 December 2022 of RM49.6 million."

Executive Director of Synergy House, Mr. Teh Yee Luen said, "As part of our expansion, we have allocated resources and funding to build up our brand name, reputation and reviews on e-commerce platforms. These includes more aggressive advertisement and promotions on the e-commerce platforms that we market on which will bear fruits in the longer term. We see huge potential in the global e-commerce furniture market and we are consistently sowing the seeds for future B2C growth."

Synergy House is raising RM34.4 million through the issuance of 80.0 million new shares at an IPO price of RM0.43 per share which is expected to support the Group's future growth and expansion plans.

For the financial years ended 31 December (FY) 2019, FY 2020, FY 2021 and FY 2022, the Group registered revenue of RM111.5 million, RM122.9 million, RM184.3 million and RM194.1 million respectively. In particular, Synergy House's B2C segment has seen encouraging growth, with sales reaching RM49.6 million in FY2022 from RM1.99 million in FY2019 at a compound annual growth rate of 192.17%.

Kenanga Investment Bank Berhad is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise.

Synergy House Bhd: https://www.synergyhouseberhad.com/

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

MDRT Global Services Announces 2023 Culture of Excellence Award Winners

HONG KONG, May 25, 2023 – (ACN Newswire) – MDRT Global Services has announced the 131 winners ( https://www.mdrtgs.org/coe-award-winners ) of the prestigious 2023 MDRT Culture of Excellence Awards, the global standard for achievement in financial services leadership. This year, seven agency leaders from Hong Kong won the awards, which have been an important resource available to Global Services members to measure individual and agency-wide performance and foster a comprehensive approach to leadership excellence.

Winners will be honored at special ceremonies during the 2023 MDRT Annual Meeting (June 25-28 in Nashville, Tennessee, USA) and the 2023 MDRT Global Conference (August 27-30 in Singapore). The Culture of Excellence Awards are the only awards bestowed by the MDRT Family of Brands.

Global Services members are field and home office leaders who continually work to broaden their leadership skills, establish an MDRT culture of excellence within their agencies, and advance professionally and personally. They are empowered and inspired year-round by educational content, peer-to-peer study groups, webcasts, attending MDRT meetings, and other Global Services tools and resources.

Within that fast-growing global community, the Culture of Excellence Awards are bestowed upon the "best of the best" – agency leaders who track and submit results in production, recruitment, retention, persistency, work/life balance ("Whole Person") and MDRT membership. The 5 Diamond Agency winners achieved at least five of the six criteria; 15 Platinum Agency winners achieved four of six criteria, and 111 Gold Agency winners achieved three of six criteria.

Special mention goes to the following companies with the highest number of 2023 Culture of Excellence Award winners: Pru Life Ins Corp of UK – 69 award winners, Prudential Assurance Company Singapore (PTE) Limited – 24 award winners, and Great Eastern Life – Singapore – 22 award winners. The full list of winners is found on the Global Services website at https://www.mdrtgs.org/coe-award-winners .

"The Culture of Excellence Awards are the most prestigious field leadership awards in the financial services profession," said Peggy Tsai, RFP, CCFP, 2023 MDRT President and an agency leader at Shin Kong Life Insurance Co. in Taipei, Taiwan. "MDRT Global Services creates a community of financial services leaders committed to excellence in the profession, and winning this award recognizes their ability to galvanize and coach their teams to become the best. It is noteworthy that there are seven winners from Hong Kong this year. Although Hong Kong is a small city, the quality of her financial service leaders is unquestionable and their performances deserve applause. I hope the leaders will continue to contribute to our industry and more of them from different places will make the winner list in the future."

About MDRT Global Services
As the newest association under the global MDRT Family of Brands, MDRT Global Services was created exclusively for financial services field and home office leaders. As a separate, individual membership association, MDRT Global Services provides its members with exceptional value and leadership growth opportunities. MDRT Global Services membership allows increased engagement within the MDRT community while providing leaders with strategies to develop a culture of excellence within their respective organizations. To learn more visit
https://www.mdrtgs.org/.


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

SmartHK attracts about 2,000 participants

HONG KONG, May 24, 2023 – (ACN Newswire) – SmartHK, a flagship event of the Guangdong-Hong Kong Cooperation Week, drew about 2,000 business elites to Guangzhou today, boosting cooperation between Hong Kong and the mainland centres of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
SmartHK was successfully held at the Shangri-La Hotel in Guangzhou

Mr John Lee, Chief Executive of the HKSAR (6th L), Mr Wang Weizhong, Governor of Guangdong
Province (7th L) , Mr Yin Zonghua, Deputy Director of the Liaison Office of the Central People's
Government in HKSAR (5th L), Dr Peter K N Lam, Chairman of the HKTDC (5th R) and
Ms Margaret Fong, Executive Director of the HKTDC (3rd R)

The GBA Youth Entrepreneur Summit, exclusively sponsored by Hang Seng Bank, gathered scientific
research entrepreneurs, Young Entrepreneur Summit and venture-capital fund managers from the GBA
to promote talent exchanges and discuss the entrepreneurial opportunities and challenges in the GBA


The conference, organised by the Hong Kong Trade Development Council (HKTDC) and Guangdong Provincial Department of Commerce, featured an exhibition area and start-up pitching sessions as well as on-site business matchmaking to facilitate connections between companies from Hong Kong and Guangdong. Hong Kong-Guangdong Cooperation Week runs from today to 7 June in the GBA, accelerating collaboration and exchange among Hong Kong and Guangdong government departments, organisations, chambers of commerce and trade associations through more than 20 business and trade activities across GBA cities.

Mr John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), Mr Wang Weizhong, Governor of Guangdong Province, and Dr Peter K N Lam, Chairman of the HKTDC, presided over the opening ceremony of Guangdong-Hong Kong Cooperation Week and SmartHK earlier today.

Mr Lee said: "The development of the GBA, which was personally planned, deployed and advocated by President Xi Jinping, is a key development strategy for the reform and development of the country in the new era, and the best entry point for Hong Kong to better integrate into the overall development of the country." He also pointed out, "full resumption of normal travel between Hong Kong and Mainland China meant the flow of people between Hong Kong and Guangdong had resumed and the 'one-hour living circle' in the GBA had made same-day travel very convenient. My team and I would make frequent visits to the GBA to promote interconnection and interoperability, advancing quality development and facilitating Hong Kong's active integration into the overall development of the country."

Dr Lam pointed out that Hong Kong's development had been closely tied with that of Guangdong for many years. As two core GBA cities, Hong Kong and Guangzhou had long maintained close cooperation and complemented each other's advantages in various fields, such as finance, innovation and technology and the creative sector.

Mr Wang hoped the business communities of Guangdong and Hong Kong could fully leverage this forum and the Guangdong-Hong Kong Cooperation Week to further promote high-level economic and trade cooperation and high-quality development between the two regions. He encouraged Hong Kong entrepreneurs to boost cooperation with Guangdong in areas such as technological innovation, advanced manufacturing, modernised services and MICE (meetings, incentives, conferences and exhibitions) tourism. He also urged greater investment in Guangdong, especially in the eastern, western, and northern parts of the province, and active collaboration with Guangdong enterprises to explore international markets. Guangdong would strive to create a market-oriented, rule-of-law-based, and internationally oriented business environment, provide excellent conditions and first-class services for domestic and foreign investors, including Hong Kong enterprises. Guangdong would strongly support and actively promote high-quality development of Hong Kong and support Hong Kong's better integration into national development. Guangdong was committed to making efforts and contributions to ensure the stable, long-term implementation of the One Country, Two Systems principle.

Top of Form

Exploring the road to high-quality development

Following the opening ceremony, the thematic sharing forum discussed professional strengths of Hong Kong and other GBA cities. Mr Adam Kwok, Executive Director of Sun Hung Kai Properties Limited, Dr Levin Wang, CEO of Huatai Financial Holdings (Hong Kong) Limited, Mr Ronald Lam, CEO of Cathay Pacific Group and Mr Xu Shaochun, Chairman and CEO of Kingdee International Software Group Company Limited, discussed opportunities GBA development brought from four perspectives – co-constructing a sustainable city development model; creating a dual system of finance and technology innovation; developing a high-quality aviation industry and collaborating with Hong Kong for global business expansion.

Subsequent forums co-organised by the HKTDC and partners, such as InvestHK, Hong Kong Monetary Authority, HKSAR Development Bureau and the Hong Kong Construction Industry Council, focused on cross-border asset management, green finance, sustainable urban living, green & smart building technologies and more.

Building a talent hub

To further address the importance of fostering talents and respond to the national strategy of supporting youth development, SmartHK introduced the GBA Youth Entrepreneur Summit, exclusively sponsored by Hang Seng Bank, which assembled scientific research entrepreneurs, young entrepreneur and venture capital fund managers from the GBA. Mr Fang Xin, COO of EHang, Mr Zhan Peixun, Co-founder and CSO of Shenzhen Unity-Drive Innovation Technology Co, Ltd, Ms Edith Law, Director of Fashion Farm Foundation, and Prof Karen Chan, Executive Director of German Pool Group Co, Ltd, discussed entrepreneurial opportunities and challenges in the GBA.

The successful Smart+ start-up pitching event returned and continued to focus on research and enterprise collaboration, creating opportunities for start-ups to introduce projects and thereby break into the GBA market. The 17 candidates came from The Chinese University of Hong Kong, Hong Kong Cyberport Management Company Limited, Sino Inno Lab and the HKTDC's Start-up Express, covering AI and blockchain, medical and health, and new ESG technologies and materials.

Driving complementarity with innovation

The five exhibition zones featured 70 Hong Kong companies from professional services, technological innovation, industry & academic research, creative design and other sectors introducing Hong Kong's professional services, and providing on-site business matching services and one-on-one opportunities for Hong Kong exhibitors and GBA enterprise representatives to deepen exchanges explore new partnerships.

In the form of short talks, SmartHK's debut GBA Live Studio aimed to extend the event to other GBA cities and enable online participation. The conversations helped audiences to better understand the ways in which Hong Kong's professional services could help them achieve high-quality development.

Tomorrow, on 25 May, an HKTDC-organised delegation will further explore Guangzhou to gain a better understanding of the latest developments in the digital economy. It will explore opportunities in innovation and technology and related industries to accelerate multi-level Hong Kong-Guangdong cooperation in the fields of economy, technology and finance between.

The HKTDC has proactively advocated cooperation between Hong Kong and Guangdong and Hong Kong's integration in the GBA. The annual SmartHK launched in 2011 as a flagship event in mainland cities such as Chengdu, Fuzhou, Jinan and Nanjing to create business opportunities for local and mainland enterprises.

Another flagship Guangdong-Hong Kong Cooperation Week, Chic HK, will be held from tomorrow to 28 May in Shenzhen to promote Hong Kong's professional services and fashion brands to the business community and public in the GBA.

The HKTDC also plans a brand-new public exhibition CHILL11 at AsiaWorld-Expo in Hong Kong, promoting Hong Kong's cultural and creative industries, particularly design, music, and digital entertainment, to enhance cultural exchange within the GBA and promote Hong Kong as a cultural and creative hub.

SmartHK: https://portal.hktdc.com/smarthk/
Hong Kong-Guangdong Cooperation Week: https://gdhkcooperationweek.hktdc.com/
Media Room HKTDC: http://mediaroom.hktdc.com
Photo download: https://bit.ly/3OAyJEg

About HKTDC

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

Media Enquiries
HKTDC's Communications & Public Affairs Department:
Eric Wong, Tel: +852 2584 4575, Email: eric.ks.wong@hktdc.org
Sunny Ng, Tel: +852 2584 4514, Email: sunny.sl.ng@hktdc.org

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

OCTO, new FinOps solution from Alphaus, to help businesses maximize ROI on their cloud usage

KUALA LUMPUR, May 24, 2023 – (ACN Newswire) – Alphaus Inc. (https://alphaus.cloud/en/), the market leader in cloud financial management (CFM) solutions in Japan with a growing regional presence in Southeast Asia, is extending its suite of SaaS solutions to cater to SMEs and large enterprises running on cloud infrastructure.



Having successfully delivered huge cost savings to companies in Japan and Southeast Asia through its proven solutions for managed service providers (MSP), the company is now globally introducing OCTO, a SaaS-based FinOps platform for any business that uses cloud infrastructure for its operations. Beyond cost savings, OCTO enables finance, FinOps and DevOps teams to work together effectively to achieve the best outcomes for the business. Moreover, OCTO integrates effectively with a multitude of third-party solutions, acting as the connecting hub that brings them all together. This seamless integration enhances user experience, solidifying OCTO as an essential tool for end-users.

Companies interested in minimizing wasted cloud spend, saving costs and maximizing their ROI are now invited to sign up for the waitlist to experience the many benefits of OCTO.

OCTO enables cost aggregation by account, service, or tags with centralized account management for AWS, Azure, and Google Cloud Platform (GCP). Smart visualization through project-specific dashboards provides a clear view and understanding of all cloud costs. With advanced tag management, OCTO then intelligently distributes project costs and allocates credits and savings through its optimization capabilities. It helps businesses with a comprehensive cost optimization cycle covering numerous daily operations and enabling auto-pilot cost optimization, together with detailed metrics for gauging success of plans and actions.

"Due to the growing complexity of cloud technologies, most businesses find it a significant challenge to track cloud usage and associated costs across the organization. This lack of clear visibility and understanding of cloud costs negates the potential benefits and savings for companies by using the cloud," said Hajime Hirose, CEO of Alphaus. "We aim to solve this problem at scale with a versatile, comprehensive, and user-centric solution like OCTO, and help any business- whether it is a SME or a large-enterprise- to fully realize the benefits of using the cloud. Beyond understanding cloud spend, we want to empower businesses to seamlessly manage and optimize that spend with appropriate allocation, generate savings, and make a tangible impact on their bottom line."

Don't miss out on the opportunity to save on cloud costs and maximize your ROI. Sign up for the waitlist today and be among the first to experience the many benefits of OCTO. Visit: https://lp.alphaus.cloud/

About Alphaus Inc.

Alphaus (https://alphaus.cloud/en/), a VC-backed tech start-up on a mission to simplify cloud computing for everyone, specializes in Cloud Financial Management (CFM) solutions. The company enables cloud services partners and other businesses to understand, manage and optimize complicated cloud spend, billings and resource allocation for maximizing ROI on their investments in the cloud. Alphaus provides a suite of Software-as-a-Service (SaaS) solutions for multi-cloud management supporting AWS, Microsoft Azure, and Google Cloud.

Founded in 2015, Alphaus Inc. is backed by reputed investors like DNX Ventures, NTT DoCoMo Ventures, Mitsubishi UFJ Capital, Archetype Ventures, Accord Ventures, and 500 Global. The company's roster of clients includes NTT Data, Nomura Research Institute (NRI), and ISI-Dentsu. Headquartered in Japan, Alphaus has a rapidly growing Global Delivery Centre and Regional Headquarter in Kuala Lumpur Malaysia to support its rapid expansion in the Asia Pacific and Oceania regions.

Media Contact:
Hajime Hirose, CEO
Tel: +81.70.3173.7354
E-mail: Hajime.hirose@alphaus.cloud

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

SNS to Collaborate on Penang’s Digital Library Programme

PENANG, Malaysia, May 23, 2023 – (ACN Newswire) – SNS Network (M) Sdn Bhd, a subsidiary of SNS Network Technology Berhad (Bursa: SNS, 0259), a leading provider of ICT systems and solutions, is pleased to announce a collaboration with Persatuan Kebajikan 88 Kapten Pulau Pinang (88 Captains) under the "5G Digital Library Programme" to equip schools in Penang with wireless 5G broadband connectivity.
Ko Yun Hung, Managing Director of SNS

YB Dato' Seri Dr. Ooi Eng Hock, Chairman of Penang 88 Captains

Yang Amat Berhormat Tuan Chow Kon Yeow, Penang Chief Minister; Irene Cheong Lai Keng,
Branch Manager of SNS; Yang Berhormat Prof. Dr. P.Ramasamy a/l Palanisamy,
Penang Deputy Chief Minister II [L-R]


As part of the collaboration, SNS will sponsor 264 units of JOI Classmate 10 totaling RM342,936 to 88 select schools in Penang as part of a pilot project enabling students to have better access to their school's Digital Library anytime and anywhere through provided high-speed, uninterrupted 5G broadband. Each of these school will receive a Content Access Server that can keep thousands of e-books, a modem with 5G broadband, and three units of laptops.

88 Captains is also aiming to expand the programme to all schools in the state and SNS is prepared to fully support its efforts in developing a thriving talent ecosystem in Penang. SNS believes that broadband speed is vital in today's education system while a Digital Library is important as a platform to house all the digital content for students and encourage collaboration among teachers through the Intel-based Content Access Server.

Managing Director of SNS, Ko Yun Hung said, "As a technology provider, our JOI(R) devices add value to education across the spectrum that makes the education journey more engaging, dynamic, richer, and fulfilling. We are always committed in driving positive changes in education transformation and we believe this initiative will be an effective educational foundation that will revolutionize the digital learning environment."

Chairman of Penang 88 Captains, YB Dato' Seri Dr. Ooi Eng Hock said, "Collaborations like these are the next logical step and comes on the heels of our previous cooperation with local universities to secure funding for deserving students in the state. The current 5G programme is a synthesis of the collective efforts of the respective bodies in bringing education in the state to the forefront of Industry 4.0. We are honoured to coordinate these efforts to fast-track 5G broadband connectivity in Penang's schools, and we appreciate top technology leaders such as Intel and YTL, collaborating with Penang Science Cluster, to create new and improved learning opportunities to accelerate digital transformation in education."

For more information on SNS Network and its offerings, please visit: https://www.sns.com.my/

SNS Network Technology: 0259 [BURSA: SNS], https://www.sns.com.my/

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

Leon Fuat Shareholders Approve Dividend for FY2022

SHAH ALAM, Malaysia, May 23, 2023 – (ACN Newswire) – Leon Fuat Berhad, a manufacturer and trader of steel products specialising in rolled long and flat steel, would like to announce that shareholders have approved all resolutions at the Group's 16th AGM today.
Calvin Ooi Shang How, Executive Director of Leon Fuat


Shareholders approved a resolution to pay out a final single tier dividend of 1.5 sen per share for the financial year ended 31 December 2022 ("FY2022").

Resolutions to re-elect Mr. Ooi Seng Khong, Mr. Ooi Kong Tiong and Mr. Ng Kok Teong as directors were also approved as were resolutions to retain Mr. Chan Kee Loin, Mr. Tan Did Heng and Mr. Tan Sack Sen as independent directors.

Baker Tilly Monteiro Heng PLT was also re-appointed as the Group's auditors for FY2023, with shareholders also authorising the directors to fix its remuneration.

Calvin Ooi Shang How, Executive Director of Leon Fuat said, "We had a smooth physical AGM and would like to thank all who made this shareholders' meeting a success. The Group is cautiously optimistic of the outlook for FY2023 and will continue to seek opportunities to diversify products and services as well as the customer base to ensure earnings sustainability. We also will continue to monitor steel prices as well as related foreign currencies and take proactive measures such as through negotiating forward contracts and prudent inventory management to mitigate the risks to the business."

"We would like to thank our shareholders who attended our physical AGM which allows us to have an effective engagement and who have been with us through thick and thin. The Group appreciates their trust and confidence and will continue to work to create value despite the challenging macroeconomic outlook. We view positively the recent announcement of Malaysia's better-than-expected 5.6% year-on-year economic growth as this is a good indicator of the country's economic strength that we would want to leverage on."

Leon Fuat Berhad: [BURSA: LEFU] , https://www.leonfuat.com.my/

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

Kazakhstan-Singapore Business Forum: ONERHT leads investment in Kazakhstan gold mining company

Astana, Kazakhstan, May 22, 2023 – (ACN Newswire) – RHT AlDigi Financial Holdings Pte. Ltd. (RHTAFH) and Biryuk Altyn LLP have signed a Memorandum of Understanding (MOU) to invest in and commercialise Biryuk's gold mine, with support from the ONERHT ecosystem.
RHT Strategic Advisory Director Ms Tan Mae Ling, RHTAFH Chairman Mr Tan Chong Huat, RHTLaw Asia
LLP Managing Partner Mr Azman Jaafar, Ordabasy Group Chairman Mr Dinmukhamed Baizhanov,
Mining Division Director Yerzhan Ishmukhamedov, RHTAFH Director Mr Jayaprakash Jagateesan,
Biryuk Director Mr Khassanov Ruslan, and RHT DigiCapital Managing Director Dr Pang Ti Wee. [L-R]


RHTAFH is a member of ONERHT, a Singapore-based multidisciplinary professional and specialist services group while Biryuk owns a 56sqkm gold mine, located 600km from Kazakhstan's capital, Astana. The mine holds probable reserves of 50-100 tons of gold with a potential value of US$1 billion.

Under the MOU, RHTAFH-affiliate RHT Strategic Advisory Pte. Ltd. will invest in Biryuk, bringing ONERHT's full suite of professional and specialist services to further support Biryuk as it begins to commercialise the mine.

Through ONERHT, Biryuk will have access to deep expertise and experienced advisors, with support from full service law firm RHTLaw Asia LLP, Monetary Authority of Singapore (MAS) regulated registered fund management company RHT DigiCapital Pte. Ltd., Recognised Market Operator licence holder SDAX Exchange Pte. Ltd., and Capital Markets Services licence holder RHT Capital Pte. Ltd.

RHTAFH Director Mr Jayaprakash Jagateesan said, "ONERHT brings deep expertise across legal compliance, fund management, digital assets and capital markets to support the needs of Kazakh businesses, including mineral, oil and gas (MOG) companies leveraging Singapore as a hub to engage South-east Asia and explore potential areas for cooperation."

Biryuk Director Mr Khassanov Ruslan said, "Our partnership with ONERHT will enable us to tap Singapore's expertise while accelerating the commercialisation of our mine. The MOU is also a significant milestone in economic cooperation between Kazakhstan and Singapore."

The signing ceremony took place at the Kazakhstan-Singapore Business Forum held in Astana.

About ONERHT

ONERHT is an integrated multidisciplinary platform of professional and specialist services. Since 2011, RHTLaw Asia's founding team has developed a second engine of growth through ONERHT, an independent ecosystem of professional and specialist services, and networks, complementing RHTLaw's full service legal offerings. For more details, please visit https://www.aldigi.co and www.onerht.com

RHT AlDigi Financial Holdings Pte Ltd is an investment holding company incorporated in Singapore and the vendor of AlDigi Holdings Pte Ltd in the ongoing reverse takeover.

For media queries, please contact:
Elliot Siow / elliot.siow@rhtgoc.com / +65 8375 0417

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

Artroniq Shareholders Approve Private Placement to Raise up to RM36.8 Million

KUALA LUMPUR, May 19, 2023 – (ACN Newswire) – Leading global information and communications technology (ICT) provider Artroniq Berhad is pleased to announce that shareholders have approved all resolutions at the Company's EGM today.
Marcus Chin Choon Wei, Chief Financial Officer of Artroniq Berhad


Shareholders approved a private placement of up to 65,659,400 placement shares, representing 20.0% of the Company's total number of issued shares, to raise gross proceeds of up to RM36.8 million for the diversification into the manufacturing of electric bicycles (e-bikes), general working capital and estimated expenses for the proposal.

Shareholders also approved the proposal to diversify into the e-bikes business as part of the Company's strategy to diversify its income stream.

A bonus issue of up to 196,978,202 new warrants on the basis of one warrant for every two existing ordinary shares in the Company was also approved to reward shareholders for their support by enabling them to participate in its convertible securities as well as to provide them with an opportunity to increase their equity participation should they exercise the warrants.

In the event that all the warrants are exercised at the exercise price of RM0.60 each, the Company will raise gross proceeds of RM118 million to be used for working capital requirements, including payments to suppliers and trade creditors, staff costs, directors' remuneration and statutory contributions, overhead expenditures and, compliance expenses.

Marcus Chin Choon Wei, Chief Financial Officer of Artroniq, said, "I would like to thank all our shareholders who participated in the EGM to shape the future of the Company. We also want to thank them for their trust in the board of directors and management in guiding the business to greater success."

"The e-bikes business not only adds an additional income stream, but it also enhances our earnings with a contribution of 25% or more in net profit besides resulting in the diversion of 25% or more of the Company's net assets. The ICT products business comprising provision of point-of-sale (POS) solutions and distribution of POS hardware, peripherals and related services will remain as the Company seek to leverage on opportunities in technology trends."

Earlier this year, Artroniq's wholly owned subsidiary, Artroniq iTech Sdn Bhd, was awarded a RM100.0 million, two-year contract by Beno Inc. to assemble the Reevo series of e-bikes totalling 7,000 units that is expected to be completed on or before 30 September 2023.

As of 19 May 2023, Artroniq's share price is at RM0.80sen with a market capitalisation of RM262.6 million.

Artroniq Bhd: 0038 [BURSA: ARTRONIQ] [RIC: ARTR.KL] [BBG: ARTRONIQ:MK], https://www.artroniq.com/

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

First Bitcoin NFT Marketplace to Use RGB Smart Contracts, DIBA Launches on Mainnet

MIAMI, FL, May 19, 2023 – (ACN Newswire) – DIBA, the first Bitcoin NFT marketplace leveraging RGB smart contracts, launches on mainnet. The launch includes BitMask, a one-of-a-kind, Bitcoin-only wallet that can hold music and art unique digital assets (UDAs), and Carbonado, hosted on high availability storage and cloud services provided by Hut 8, one of North America's largest innovation-focused digital asset miners and high performance computing provider.



Backed by notable bitcoin investors Tim Draper of Draper Associates, Bill Tai of ACTAI Unicorn Fund, Yasmeen Drummond of NIMA Capital, and Erez Kalir of Martial Eagle Fund, DIBA aims to bring Bitcoin utility to the masses through enabling the exchange of UDAs on the most decentralized, censorship-resistant network.

Gideon Nweze, Founder & CEO of DIBA, said, "It's our view that Bitcoin is the only network that is positioned to become the foundation for the next world economy given its decentralized, censorship-resistant, Proof-of-Work design. Bitcoin is designed to be built in layers and this one reason is why we're very excited to announce the launch of DIBA, which enables the exchange of Unique Digital Assets for the first time on Bitcoin. This marks a major milestone in the transition of the internet onto Bitcoin."

Tim Draper, American Venture Capital & Bitcoin Investor, said, "The bull case for Bitcoin assets is in the ballpark of $10bn market cap over the next couple of years. What Gideon and the team at DIBA have built is a testament to the potential NFTs on Bitcoin hold in capturing the creative and sovereign spirit of this next generation. I am excited about DIBA's launch and look forward to their future growth."

Josh Rayner, VP of High Performance Computing at Hut 8, shared, "We are bullish on Bitcoin and the potential of Layer 1 and 2 protocols, and are proud to support DIBA's Bitcoin NFT platform with high availability storage and cloud services on our HPC infrastructure, as part of that evolution."

The DIBA marketplace uses RGB, a Smart Contract Protocol on Bitcoin that enables encrypted transactions, and the Lightning Network to offer free NFT mints, sovereign and private assets, as well as deterministic unhackable smart contracts.

To learn more about DIBA, visit DIBA.io and follow them on Twitter @trydiba.

For media inquiries, please contact Phil LeRoy at (310) 260-7901 or phil(at)melrosepr(dot)com.

About DIBA

DIBA Global builds decentralized application Infrastructure on Bitcoin and the Lightning network. As the first marketplace on Bitcoin using RGB Smart Contract Protocol and Lightning Network to exchange Unique Digital Assets (UDAs), commonly referred to as NFTs, DIBA Marketplace is focused on accelerating art & entertainment utility on Bitcoin. DIBA's mission is to help millions of people own, use and exchange non-custodial digital assets that are censorship resistant while catalyzing access, equity, and fairness. Visit DIBA at www.DIBA.io.


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