Dynasty Fine Wines Announces 2022 Annual Results

HONG KONG, Mar 29, 2023 – (ACN Newswire) – Dynasty Fine Wines Group Limited ("Dynasty" or "the Group") (Stock Code: 00828), a premier grape winemaker in China, today announced its audited annual results for the year ended 31 December 2022.

In 2022, the Group's overall performance was affected by the resurgence of COVID in China. Despite this, the Group made active efforts to lower operating costs and expenditure and its revenue recorded a growth again in the second half of 2022 due to the containment of the pandemic in the country.

During 2022, the Group's revenue was HK$241.4 million and the profit attributable to the owners of the Company was HK$16.3 million. The overall gross profit margin remained stable at 38%, mainly as a result of the Group's adjustment of product sales mix to more medium-end mass market wines products.

With consumers' growing interest in white wine products of the Group, revenue of white wine products transcended red wines products for the first time in 2022, as the Group's major revenue contributor, accounting for approximately 51% (2021: 40%) of the Group's revenue. White wine products have higher gross profit margin than red wine products in 2022, which were 44% and 32% respectively.

The Group produced a wide range of more than 100 wine products under the "Dynasty" brand in the distribution sector, and has been actively pursuing innovation to meet the diverse needs of different Chinese consumer groups. Embracing the "5+4+N" product strategy (5 key series of products, +4 advantageous product categories, +"N" kinds of customized products), product packaging upgrade also agreed to the trend of supporting domestic products.

During the year, the Group launched new medium to high-end products, i.e. Dynasty Chinese Zodiac Commemorative Dry Red Wine for the Ren Yin Year of Tiger, integrating the high quality with the Chinese zodiac culture and the leading rise of Chinese-style fashionable products, and "Starlight" and "Years" series targeting at regional customers.

Meanwhile, the Group launched new products which looked young and chic, and were more convenient to enjoy, aiming to strengthening the deployment of products for young consumers.

A grape wine series of entry-level prices, Pleasant Color, targeting at young consumers has been well received since its debut last year. The Group's marketing team made it as a gift option and created a gift box for the collection. Leveraging the marketing over a combination of multiple new media platforms including RED, TikTok etc., the series has ever become a hot choice on the internet.

The Group has also launched the 180ml and 373ml Dynasty series with an innovative design of screw caps to make them tap into the young consumer market. The 180ml wine series was giving the younger generations another choice of drinks in gatherings. The 373ml size, through the promotion method that consumers can get rewards after scanning the QR code, promoted interaction between consumers and the brand.

On the other hand, the Group sold chateau wine imported from France and other foreign branded wines in the PRC wine market through the Group's existing distribution network to introduce some classic "old world" and "new world" varietals to cater for a market niche preferring the taste of foreign premium wines.

As for the online sales, the Group strategically plans and continues putting resources for improvement of the online sales channels, which are expected to increase brand promotion thereby enhance the overall business potential of the Group.

During 2022, the e-commerce team of the Group started insourcing to operate online stores on the traditional e-commerce platforms, such as JD.com, Tmall and Pinduoduo for product sales. Besides, the Group as well as comprehensive innovation on its brand, product categories, and business systems, procedures and models via new retail platforms, include Weibo, RED, and TikTok other than cooperation with distributors. Such efforts facilitated the Group's autonomous brand communications and enhance effective market penetration of the Group's products targeted at young consumers. Meanwhile, the e-commerce team also actively cultivate e-commerce live broadcasting talents to further expand its sales channels so as to build up a new customer base.

During 2022, the Group continued in implementing a sales and marketing reform by holding its tasting and business events in February, June and November. And the Group took part in the 105th China Food & Drinks Fair (Food & Drinks Fair) held in Chengdu in November 2022, during which the Group actively promoted its latest product mix that covered all product lines. These events received enthusiastic response from distributors.

The Group is committed to maintaining high standard of research and technology in October 2021, the Group set the post-doctoral work station in the National-level Technology Centre for researching the selection of distinctive muscat yeast in order to brew more mellow and delicious wines which further promote the Group's research and development of new products as well as new winemaking techniques. The centre has also set up a winemaking and wine tasting studio which has carried out rounds of wine introduction and tasting activities.

With its production department continuing to upgrade production technologies and introduce suitable equipment, the Group is able to maintain production at a relatively high level. At the end of December 2022, the Group's annual production capacity maintained at 50,000 tonnes. Such capacity is sufficient for the Group to promptly response to the market demand and provide a platform for sustainable earnings growth.

The Group has more than 10 major grape juice suppliers with whom the Group has enjoyed long-term relationships, mainly located in Tianjin, Hebei, Ningxia and Xinjiang, ensuring stable supplies of quality grapes and grape juices.

The Group will further strengthen presence in Ningxia and Xinjiang to secure the supply of quality grapes and grape juice, and plan for the development of a winery nearby Eastern foot of Helan Mountain in Ningxia, integrating pressing, fermentation, processing, testing and research and development as a whole, with an annual production and processing capacity of 5,000 tonnes. The winery would become a new long-term and stable economic growth point of the Group and help the regional presence and layout of Dynasty wines, as well as in line with the overall planning and industry planning for the development of China's wine industry.

Mr. Wan Shoupeng, Chairman of Dynasty, concluded, "Looking ahead to 2023, supported by national policies that encourage consumption, relevant activities in China will gradually return to normal. As such, the Group believes its business and sales will recover relatively quickly. Dynasty will focus on product quality and proactive market expansion by pursuing innovations for its wine series. We will continue to build Dynasty into a brand representative of Chinese wine with the aim of bringing Dynasty's superior wines to more consumers in the PRC.

About Dynasty Fine Wines Group Limited
Dynasty Fine Wines Group Limited was listed on the Main Board of The Stock Exchange of Hong Kong Limited with the stock code 00828 on 26 January 2005. Founded in 1980, Dynasty is the premier grape winemaker in China. It is principally engaged in the production and sale of grape wine products under its reputable "Dynasty" brand. Dynasty is the first Sino-foreign joint-venture wine company in China with Tianjin Food Group Limited and the French grape wine giant, Remy Cointreau, as its major shareholders. The Group produces and sells more than 100 grape wine product series, and introduces imported wine products, providing high-quality and value-for-money grape wines to the full range of consumer groups in China.

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

EuroEyes Delivers Solid Results in 2022

HONG KONG, Mar 28, 2023 – (ACN Newswire) – EuroEyes International Eye Clinic Limited ("EuroEyes" or the "Company", together with its subsidiaries, the "Group", stock code: 1846), is a leading brand in the vision correction industry, combining German ophthalmology excellence with 26 years of experience and individualised customer care, principally engaged in the provision of vision correction services in Germany, Denmark, the People's Republic of China ("the PRC") and the United Kingdom. EuroEyes is pleased to announce its annual results for the year ended 31 December 2022 (the "Year").

Key Highlights
— For the year ended 31 December 2022, the Group's total revenue was approximately EUR74.0 million, representing an increase of approximately 7.5% YoY.
— The acquisition of London Vision Clinic Partners Limited, one of the leading brands in the global vision correction industry, has exceeded the revenue and EBIT targets agreed in the acquisition agreement.
— Despite a decrease in profit contribution in HKD terms due to the depreciation of the Euro against the Hong Kong Dollar, the unfavourable currency fluctuation had no material effect on the Group's operations.
— The Group faced many challenges in 2022 due to the global COVID-19 pandemic and its related control policies, but remained confident in its business model and adaptability.

Overcoming a Difficult Business Environment with a Solid Foundation in Lens Surgery
EuroEyes faced a challenging year in 2022 due to the unfavourable macro environment created by the global COVID-19 pandemic and its related control policies, as well as geopolitical turmoil, inflation and currency fluctuations. Despite these challenges, the Group remained confident in its business model and adaptability, with a solid foundation focused on lens surgery, and is gradually getting back on track and outperforming its pre-COVID numbers. Although the depreciation of the Euro against the Hong Kong Dollar resulted in a lower profit contribution in HKD terms and affected the Group's financial position and performance, the unfavourable currency fluctuations did not have a significant operational effect on the Group.

In 2022, the Group's total revenue was approximately EUR74.0 million, representing an increase of approximately 7.5% YoY (HK$ equivalent: 610.3 million). Adjusted gross profit was approximately EUR33.4 million (HK$ equivalent: 275.6 million), representing an adjusted gross profit margin of approximately 45.1%. Net profit after tax was approximately EUR10.1 million (HK$ equivalent: 83.5 million), and after adjustment for non-recurring items, the Group's adjusted net profit after tax was approximately EUR12.3 million (HK$ equivalent: 101.2 million), representing an adjusted net profit margin of approximately 16.6%. The Group's adjusted EBITDA reached over EUR29.4 million (HK$ equivalent: 230.0 million), a testament to its adaptability and resilience.

The Board of Directors has resolved to declare a final dividend of HK0.06266 per share for the year ended 31 December 2022 (2021 final: HK$0.09932 per share).

In terms of geographic regions, revenue from Germany, China, the United Kingdom and Denmark was approximately EUR40.7 million (HK$ equivalent: 335.6 million), EUR11.9 million (HK$98.4 million equivalent), EUR13.5 million (HK$111.2 million equivalent) and EUR7.9 million (HK$65.1 million equivalent), respectively, representing approximately 55.0%, 16.1%, 18.2% and 10.7%, of total revenue, respectively.

In terms of surgery type, lens exchange surgery and phakic lens (ICL) surgery remained an integral and major source of revenue for the Group's business, together accounting for approximately 57.3% (2021: approximately 65.3%) of total surgery revenue for the Year. Revenue from refractive laser surgery grew by 32.8% YoY to approximately EUR29.9 million (HK$ equivalent: 246.4 million), accounting for approximately 41.1% of total revenue, mainly attributable to the first consolidation of London Vision Clinic, which focuses on refractive laser surgery. Meanwhile, revenue from lens exchange surgery, including monofocal and trifocal lens exchange surgeries, dropped 6.6% YoY to approximately EUR32.9 million (HK$ equivalent 271.2 million), accounting for approximately 45.3% of total revenue.

Strategic Acquisition of London Vision Clinic Exceeds Growth Expectations; Continues the Momentum and Outperform in the "New Normal"
Despite continued operational headwinds caused by the pandemic, the Germany business maintained the momentum of the previous year, demonstrating impressive cost control with lower marketing and administrative expenses compared with the previous year.

Elsewhere in Europe, EuroEyes's Denmark clinic was an immediate success and gained market acceptance with the support of its ambassador, European football legend Michael Laudrup. The business gained momentum in the second half of 2022, returning to pre-COVID numbers and recording a strong start to 2023.

Meanwhile, the Group's operations in the United Kingdom performed well ahead of earnings expectations. EuroEyes announced the acquisition of the London Vision Clinic ("LoVC") on 20 January 2022 for a completion consideration of GBP13,130,000. For the first earn-out period in 2022, LoVC exceeded its agreed revenue and EBIT targets as stated in the share purchase agreement under the acquisition, reaching GBP11.2 million and GBP3.2 million, respectively. The Group believes that the acquisition of LVCP will enable it to expand its business by entering London's high-end refractive and presbyopia surgery markets. By implementing PRESBYOND Laser Blended Vision treatment at EuroEyes, the Group is able to treat a larger group of presbyopic patients at an earlier stage.

In the PRC, EuroEyes saw a double-digit decline in revenue and earnings due to nationwide COVID-19 restrictions and multiple lockdowns during the first half of 2022 in major cities where the Group operates. However, after the relaxation of these restrictions in China, the Group's activity rebounded significantly, with a notable pick-up in business after the Chinese New Year in February.

In the "New Normal" business environment in 2023, the Group expects to open three new clinics in Germany, which will elevate EuroEyes to another level in Germany and safeguard its market leader position. The Group is set to open its new flagship Laser Eye Clinic ("LEC") in London in June 2023, in a central, high-traffic location in Knightsbridge. In line with its market expansion strategy, the Group will also open its first flagship clinic on Russell Street in Hong Kong's Causeway Bay in the first half of 2023.

The lifting of the two-year pandemic-related restrictions on inter-country travel across Europe has shifted consumer interest towards leisure travel, which has delayed patients' operation schedules, but demand for procedures in Europe is expected to rebound after the end of the vacation season. As a result, EuroEyes has accelerated the implementation of its mergers and acquisitions strategy, and is focusing on pursuing targets such as well-established, privately owned eye clinics in Europe.

Dr. Jorn Slot Jorgensen, the Founder, Chairman and CEO of EuroEyes said, "2022 presented significant challenges due to the pandemic, but we are immensely proud of the resilience of our business and remain optimistic about our ability to adapt and thrive during the recovery phase. Our commitment to our employees in the PRC is unwavering, and we have maintained full salaries and avoided layoffs, reflecting our values of talent retention and teamwork. In 2023, our strategy is to consolidate our existing clinics and maximise profitability by optimizing capacity utilization rates. As we approach our 30th anniversary, EuroEyes will build on our solid foundation in lens surgery to increase market penetration and expand our global footprint, driving organic growth and reinforcing our position as a leading player in the vision correction industry."

About EuroEyes International Eye Clinic Limited
EuroEyes was established in 1993 and is one of the leading brands in the vision correction industry that combines German ophthalmology excellence and over 25 years of experience with individualised customer care. EuroEyes is one of the few eye clinic groups with a far- reaching geographical coverage, with operations in Germany, Denmark, the PRC and the UK. The Group's vision correction services include (i) refractive laser surgery (which includes ReLEx smile and Femto LASIK); (ii) phakic lens (ICL) surgery; (iii) lens exchange surgery (which includes the monofocal and trifocal lens exchange surgery) and (iv) others (which include PRK/LASEK and ICRS implantation).

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

Inaugural InnoEX promoting Hong Kong’s Innovation and Technology Development

HONG KONG, Mar 28, 2023 – (ACN Newswire) – Innovation and technology (I&T) play an important role in Hong Kong's development blueprint, especially in the growing demand for smart city technologies and applications, bringing more opportunities for technology companies and start-ups. Leveraging Hong Kong's role as an innovation and technology hub, the first-ever InnoEX, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), will bring together international exhibitors and buyers, officials from Mainland China and ASEAN tech experts, research centres and thought leaders to promote cross-regional, cross-industry and cross-sector cooperation through I&T exchange. Taking place at the Hong Kong Convention and Exhibition Centre (HKCEC) from 12 to 15 April, alongside the HKTDC-organised Hong Kong Electronics Fair (Spring Edition) and Hong Kong International Lighting Fair (Spring Edition), under the theme of "Connecting the World with Innovations for Better Living", the three major technology exhibitions are set to attract over 2,600 exhibitors from 19 countries and regions, highlighting Hong Kong's growing strength as a centre for technology and innovation, while also reflecting further normalisation of international trade after Hong Kong's re-opening.

Joining today's press conference to introduce highlights and details of the three technology fairs, including the newly launched InnoEX, are Acting Government Chief Information Officer Mr. Tony Wong (L), HKTDC Deputy Executive Director Ms. Sophia Chong (centre), and Chairman, Electronics/Electrical Appliances Industries Advisory Committee of the HKTDC, Mr. Steve Chuang (R)

By utilising patented technology, Invisible & Innovative Technology (Asia) Limited is transforming wood waste into high-quality audio products, promoting sustainable development.

Scan the World Limited showcases at the press conference its metaverse solution, which combines real-world and online shopping experiences, and showcases tourist attractions in the digital world.

At a press conference held today to introduce this year's technology exhibitions, Ms. Sophia Chong, Deputy Executive Director of the HKTDC, said: "HKTDC is committed to promoting innovation and technology, fostering start-ups and promoting Hong Kong's development in the digital economy and smart city through a series of events themed on I&T, and promoting the strength of local I&T to the Mainland and overseas markets. The inaugural InnoEX is the flagship event of Business of Innovation and Technology Week (BITWeek), driven by the Government of HKSAR and HKTDC. BITWeek also features the HKTDC's Hong Kong Electronics Fair (Spring Edition) and the Digital Economy Summit co-organised by the HKSAR Government and Cyberport. Alongside the 2023 Hong Kong Web3 Carnival that will be held concurrently, the series of events reflect Hong Kong's determination to develop into an international centre for innovation and technology, confirming Hong Kong's leading position as an international trade exhibition centre.

Cross-industry cooperation facilitates commercialisation of innovation achievements

The Central Government has pledged to support Hong Kong's development as an international I&T centre under its 14th Five-Year Plan, with the aim of promoting the development of I&T. As a key highlight of the forthcoming three technology fairs, the inaugural InnoEX will build on the success of the HKTDC's International ICT Expo by showcasing exceptional innovations and a range of cutting-edge I&T solutions on smart living, inviting reputable international experts and opinion leaders to discuss some of the most important issues in the area of technological development. InnoEX will promote multifaceted cooperation, including business-to-business (B2B), government-to-government (G2G), and government-to-business (G2B), and will help to build bridges between technology institutions and markets with an aim to promote the commercialisation of innovations, as well as support global market expansion. On the first day of the event, Professor Sun Dong, Secretary for Innovation, Technology and Industry, will officiate at the opening ceremony, and Professor Zhang Guangjun, Vice Minister of Science and Technology, will deliver the keynote address.

"Smart Hong Kong Pavilion" and AIR@InnoHK showcase cutting-edge tech solutions

The first-ever InnoEX focuses on several themes, including the Smart City, Smart Economy, Smart Environment, Smart Government, Smart Living and Smart Mobility. The Office of the Government Chief Information Officer (OGCIO) of the HKSAR will set up the "Smart Hong Kong Pavilion", featuring more than 100 innovative solutions for driving the smart city development in Hong Kong, including technology solutions adopted by government departments and winning exhibits from local innovators. The Innovation and Technology Commission, meanwhile, will present AI & robotics projects undertaken by 14 research laboratories in collaboration with world-renowned universities under InnoHK.

Close cooperation already exists between Hong Kong and Mainland China in relation to I&T development. Twelve pavilions from 10 Mainland China provinces and cities will join the exhibition to promote technological exchange and cooperation. The pavilions include Zhongguancun Beijing, Hong Kong Alumni Association of Beijing Universities, pavilions from Zhejiang and Hangzhou, pavilions from Jiangsu and Nanjing, Qingdao Qilu Software Park, G60 Shanghai Songjiang Science and Technology Innovation Corridor, the Hong Kong / Shanghai Data Cooperation Pavilion, Shenzhen Pavilion, and pavilions from Xiamen and Chengdu respectively.

Other exhibitors include local universities and research institutions, leading technology companies such as Huawei and Hikvision, and multiple local and overseas pavilions, including B4B Challenge, Cyberport, Hong Kong Science and Technology Parks, Smart City Consortium, the French "So French So Innovative" pavilion and a Canadian pavilion.

At the same time, representatives from government, relevant industry sectors, academia and research sectors from around the world, including industry giants such as Tencent, Samsung Electronics and Alibaba, will also be present to learn about exhibitors' solutions and/or place purchase orders.

ASEAN officials attend Roundtable to discuss experiences in smart city development

Various countries in the ASEAN bloc are actively developing smart cities, and the InnoEX event will serve as an ideal platform to promote cooperation among them. Over 60 government officials from ASEAN countries such as Indonesia, Malaysia, The Philippines, Singapore, Thailand and Vietnam as well as from Mainland China, who are responsible for promoting smart city development will visit InnoEX, Some of them will participate in the ASEAN Roundtable, where they will share their experiences with representatives from the HKSAR Government and exhibitors from different countries and regions. This will also provide an opportunity for exhibitors and officials to establish connections and promote cooperation.

Distinguished international experts share latest technological trends

Another highlight event is the InnoEX Forum, with internationally renowned technology experts invited as keynote speakers. Named by Forbes as a ground-breaking female entrepreneur in Southeast Asia, Dr. Ayesha Khanna, CEO of Addo AI and a strategic advisor on artificial intelligence, smart cities, and the metaverse to leading corporations and governments worldwide including SMRT (Singapore's prominent public transport company), Pfizer, SOMPO (Japan's largest insurance firm), Habib Bank and Smart Dubai etc. Ayesha will share her insights on how companies can utilise artificial intelligence (AI) and automation to stay ahead of the competition. Mr. Matthew Griffin, a futurist and foresight expert with clients including world leaders, G7 and G20 governments, and the most recognised brands such as Accenture, BCG, Microsoft and Samsung, will discuss how technology is expected to impact different industries in the future. Also joining the forum to discuss a range of crucial technological issues will be government officials from different provinces and cities in Mainland China, representatives from organisations promoting smart city development worldwide, top executives from leading technology enterprises, and leaders from unicorn companies.

InnoEX offers a range of thought-provoking events for participants. Among them are start-up introduction and sharing sessions, mentoring sessions and investment matchmaking meetings, providing a unique platform through which start-ups can showcase their products and ideas and pitch to potential buyers and investors. By opening new avenues for business development, the various events will help to pave the way to commercial success for startup entrepreneurs.

Spring Electronics Fair showcases latest innovative products

Another highlight of BITWeek is the HKTDC Hong Kong Electronics Fair (Spring Edition), with special theme zones including the Hall of Fame, the Startup Zone and Tech Hall, showcasing an abundance of cutting-edge electronic products. A series of activities will be held as part of the fair including the "Under 30 – Tech Trends Symposium for the Next Generation". Respected industry leaders such as Ms. Maria Tang, Corporate Vice President, AMD; Mr. Bruce Huang, Vice President of Research and Development, CloudMinds; and Mr. Billy Siu, Business Development Director-HK and Taiwan, Geek Plus International, will share their insights on the impact of robotics and automation in technological development, smart manufacturing, and people's daily lives.

Spring Lighting Fair illuminates path towards intelligent lighting solutions

This year's HKTDC International Lighting Fair (Spring Edition) will feature the Hall of Aurora, where leading brands and innovative lighting designs are on display, while the Connected and Smart Lighting zone will present an array of innovative solutions that promote energy conservation and unlock the potential for smart homes and offices, and the Innobuild zone will bring exhibitors of building technologies, safety, security and electrical systems for buildings, building materials and hardware all under one roof. The exhibition will also cover other areas such as commercial lighting, decorative lighting, residential lighting and technical lighting.

The Asian Lighting Forum, co-organised by the Hong Kong Electronics & Technologies Association and the Hong Kong Institution of Engineers, under the theme "Illuminating a Connected World", is a must-attend event for those looking to stay ahead of the curve in the lighting industry. Distinguished speakers will delve deep into the latest industry issues ranging from human-centric and smart lighting solutions to sustainability developments and world-class lighting designs that transform ambience.

EXHIBITION+ service helps SMEs expand business opportunities

The three tech fairs will continue to adopt the HKTDC's EXHIBITION+ model that integrates online and offline elements. It includes physical exhibitions, the Click2Match smart business matching platform, online-and-offline seminars and forums (Intelligence Hub), and the hktdc.com Sourcing platform. This integrated approach aims to extend face-to-face interactions and promotional activities from in-person events to online platforms. The Click2Match intelligent business matching platform will be open to participants from 12 to 22 April.

*The three tech fairs include the first-ever InnoEX, jointly organised by the HKSAR Government and the HKTDC, the HKTDC Hong Kong Electronics Fair (Spring Edition) and the HKTDC Hong Kong International Lighting Fair (Spring Edition).

Websites
– InnoEX: http://innoex.hktdc.com/
– Hong Kong Electronics Fair (Spring Edition): http://hkelectronicsfairse.hktdc.com/
– Hong Kong International Lighting Fair (Spring Edition): http://hklightingfairse.hktdc.com/
– Photo download: https://bit.ly/40L33Pz

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
For more information, please contact Raconteur:
Molisa Lau, Tel: +852 6187 7786, Email: molisalau@raconteur.hk
Betsy Tse, Tel: +852 9742 7338, Email: betsytse@raconteur.hk

The HKTDC's Communications and Public Affairs Department:
Eric Wong, Tel: +852 2584 4575, Email: eric.ks.wong@hktdc.org
Clementine Cheung, Tel: +852 2584 4514, Email: clementine.hm.cheung@hktdc.org

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

PT Resources Posts 32% Gain in 3Q Revenue to RM115.4 Million

KUALA LUMPUR, Mar 28, 2023 – (ACN Newswire) – PT Resources Holdings Berhad, a processor and trader of frozen seafood products, and trader of other food products, today announced that the Company's revenue increased 32.0% to RM115.4 million for the third quarter ended 31 January 2023 (3Q FY2023) compared with RM87.4 million in the corresponding quarter of the previous financial year (3Q FY2022).

Managing Director of PT Resources, Heng Chang Hooi

For the quarter under review, the Company's gross profit (GP) gained 58.1% to RM15.3 million compared with RM9.6 million in 3Q FY2022 while profit before tax (PBT) decreased by 55.4% to RM2.1 million. On a segmental basis, the processing and trading of frozen seafood products business contributed revenue of RM108.8 million in 3Q FY2023 while the trading of other products business contributed revenue of RM6.6 million. By geographical market, Malaysia contributed revenue of RM57.7 million while overseas markets comprising China and Saudi Arabia contributed revenue of RM57.7 million.

For the nine months ended 31 January 2023 (9M FY2023), the Company's revenue increased 29.3% to RM356.1 million compared with RM275.4 million in 9M FY2022. GP increased 35.6% to RM42.3 million in 9M FY2023 compared with RM31.2 million in the corresponding period of the previous financial year while PBT increased 7.5% to RM18.3 million compared with RM17.0 million. For the 9M FY2023, there was also an 84.0% increase in administrative expenses to RM23.9 million due to one-off expenses resulting from listing expenses of RM4.0 million, an unrealised loss of RM4.6 million from foreign exchange volatility in 3Q FY2023 and, increase in staff costs of RM1.3 million.

Managing Director (MD) of PT Resources, Mr. Heng Chang Hooi said, "Over the longer term, we are optimistic for growth but in the short term, there are challenges arising from cost pressures that has affected our operations directly and indirectly while foreign currency volatility has also impacted profitability. We are committed to growing our market domestically through strengthening access to channel partners and opening up more of our MO Foodmart outlets locally while in the overseas markets, we are planning to increase supply to China."

"The Company's financial performance for the quarter was mainly due to an increase in domestic demand with the reopening of the economy while the increase in overseas demand was due to a rise in orders from existing customers in China in anticipation of higher demand for frozen seafood following the relaxation of COVID-19 quarantine rules."

PT Resources Holdings Bhd: 0260 [BURSA: PTRB], https://www.ptresourcesgroup.com.my/

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

SCIB Granted RM16.8 Million Contract for School Construction

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

Group Managing Director and Chief Executive Officer of SCIB, Rosland bin Othman

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

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

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

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

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

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

Palladium One Discovers New High-Grade Nickel – Copper Zone 3.5 kms from the Smoke Lake Zone, Tyko Nickel – Copper Project, Canada

TORONTO, ONTARIO , Mar 27, 2023 – (ACN Newswire) – Palladium One Mining Inc. (TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) (the "Company" or "Palladium One") is pleased to report the discovery of a new high-grade nickel – copper zone ("Ember Zone") which is located 3.5 kilometers southwest of the Smoke Lake Zone (Figure 1) on the Tyko nickel – copper project, in Ontario, Canada ("Tyko Project").

Figure 1. Tyko Property map showing various mineralized zones and multi-line VTEM anomalies, background is Calculated Vertical Gradient Magnetics ("CVG").

Figure 2. Ember Zone and Cupa Lake target showing drill holes, soil samples and recently staked claims (see the Company's new release dated January 26, 2023) which cover the eastern extension of the interpreted Chonolith / Feeder Dyke Structure.

Figure 3. Semi-massive to net-textured sulphide consisting of pentlandite, chalcopyrite, and pyrrhotite hosted by pyroxenite in the Ember Zone (Hole TK22-100).

Figure 4. Ember Zone plan map and stylized cross section, with select significant intercepts looking northwest.

Figure 4. Continued

"The discovery of another high-grade nickel – copper zone at Tyko further supports our thesis that we have a significant new nickel camp on our hands. The Ember Zone exhibits many similarities to the nearby Smoke Lake Zone and other high-grade nickel – copper zones on the Tyko Project. Notably the Ember Zone is adjacent to an extensive interpreted Chonolith, which is on strike with the Cupa Lake VTEM / soil anomalies, suggesting Ember may be part of much larger mineralizing system," commented Derrick Weyrauch, President and Chief Executive Officer.

The Ember Zone was first identified by a moderate two line VTEM anomaly in 2021 (see the Company's news release dated October 28, 2021), reconnaissance soil sampling returned weakly anomalous nickel values up to 42 parts per million ("ppm"), and copper values up to 30 ppm (Figure 2). The weak geophysical and soil anomalies of the Ember Zone resulted in it being drill tested during Q4 2022, Its discovery reinforces the notion that any VTEM anomaly and even weak soil anomalies can point to high-grade nickel – copper mineralization on the Tyko Project.

Notably the Ember Zone is located just north of an interpreted lengthy east-west trending Chonolith / Feeder Dyke structure which is on strike with the Cupa Lake VTEM / soil anomaly (Figure 2). Cupa Lake represents a multi-line VTEM anomaly and a strong soil anomaly with values up to 132 ppm nickel and 512 ppm copper. Cupa Lake is a priority drill target which has an outstanding Exploration Permit application.

The geometry of the Ember Zone is not fully delineated, drilling to date was focused on defining the zone at shallow depths as the conductor's orientation was poorly defined by the airborne VTEM survey. Thus far, the zone appears to form a southwest plunging body toward the interpreted Chonolith / Feeder Dyke structure located to the South (Figure 3). Hole TK22-108 was drilled as a Bore Hole ElectroMagnetic ("BHEM") geophysical platform but deviated from the interpreted plunge of the zone. A BHEM survey is planned in Q2 2023 to better define the VTEM conductor and search for potential conductors at depth.

The 2022 drill program consisted of 70 holes totaling 13,038 meters, of which 14 holes are pending assay results. The 2023 field season is currently underway, with a high-resolution magnetic survey having been completed. The survey was designed to refine the geometry of the interpreted feeder dykes / chonoliths across the Tyko Project's 30-kilometer strike length prior to additional drill testing. The 2023 exploration program will continue to focus on these newly identified and interpreted Chonolith / Feeder Dyke structures on the 30,000-hectare Tyko Project (Figure 1).

Figure 1. Tyko Property map showing various mineralized zones and multi-line VTEM anomalies, background is Calculated Vertical Gradient Magnetics ("CVG").
https://images.newsfilecorp.com/files/6502/159861_9c58986a9486b8ed_001full.jpg

Figure 2. Ember Zone and Cupa Lake target showing drill holes, soil samples and recently staked claims (see the Company's new release dated January 26, 2023) which cover the eastern extension of the interpreted Chonolith / Feeder Dyke Structure.
https://images.newsfilecorp.com/files/6502/159861_9c58986a9486b8ed_002full.jpg

Figure 3. Semi-massive to net-textured sulphide consisting of pentlandite, chalcopyrite, and pyrrhotite hosted by pyroxenite in the Ember Zone (Hole TK22-100).
https://images.newsfilecorp.com/files/6502/159861_9c58986a9486b8ed_003full.jpg

Figure 4. Ember Zone plan map and stylized cross section, with select significant intercepts looking northwest. Hole TK22-108 was drilled as a geophysical platform hole for a future BHEM survey. Hole TK22-107 was drilled to test the interpreted Chonolith structure but failed to intersect any ultramafic rocks or explain the strong magnetic anomaly, the Chonolith structure remains to be tested.
https://images.newsfilecorp.com/files/6502/159861_9c58986a9486b8ed_004afull.jpg

Figure 4. Continued
https://images.newsfilecorp.com/files/6502/159861_9c58986a9486b8ed_004bfull.jpg

Table 1: Assay Results: Tyko 2022 Drill Results from New Ember Zone
https://www.acnnewswire.com/docs/Multimedia/20230327.Table1.jpg

Table 2: Drill Hole Locations for assay results from this News Release
https://www.acnnewswire.com/docs/Multimedia/20230327.Table2.jpg

QA/QC
The drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration, and a Director of the Company.

Drill core samples were split using a rock saw by Company staff, with half retained in the core box and stored onsite at the Tyko exploration camp core yard facility.

Samples were transported in secure bags directly from the logging facility at the onsite exploration camp, to the Activation Laboratories Ltd. ("Actlabs") in Thunder Bay, Ontario. Actlabs, which is ISO 17025 accredited with CAN-P-1579 (Mineral Lab). In addition to ISO 17025 accreditation, Actlabs is accredited/certified to ISO 9001:2015. All samples are crushed to 2 millimeters with a 250-gram split pulverized to 105 microns. Analysis for PGEs is performed using a 30 grams fire assay with an ICP-OES finish and for Ni, Cu, and Co using 0.25 grams by 4 acid digestion with ICP-OES finish. Ni, Cu and Co samples over 1.0 wt% were re-analysed by ore grade methods using 4 acid digestion with ICP-OES finish.

Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. Results are analyzed for acceptance within the defined limits of the standard used before being released to the public.

About Tyko Nickel – Copper – Cobalt Project
The Tyko Nickel – Copper – Cobalt Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is a high sulphide tenor, nickel – copper (2:1 ratio) project and currently has six known mineralized zones spanning over a 20 kilometer strike length.

Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.

About Palladium One

Palladium One Mining Inc. (TSXV: PDM) is focused on discovering environmentally and socially conscious metals for green transportation. A Canadian mineral exploration and development company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel deposits in Canada and Finland. The Lantinen Koillismaa (LK) Project in north-central Finland, is a PGE-copper-nickel project that has existing NI43-101 Mineral Resources, while both the Tyko and Canalask high-grade nickel-copper projects are located in Ontario and the Yukon, Canada, respectively. Follow Palladium One on LinkedIn, Twitter, and at www.palladiumoneinc.com.

ON BEHALF OF THE BOARD
"Derrick Weyrauch"
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. These forward-looking statements include, but are not limited to, statements relating the 2023 exploration program and its focus and results; the pending results of the Company's previous drilling; the standards of testing; and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/159861

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

Palladium One Discovers New High-Grade Nickel – Copper Zone 3.5 kms from the Smoke Lake Zone, Tyko Nickel – Copper Project, Canada

Highlights

New High-Grade discovery (“Ember Zone”) located 3.5 kilometers southwest of the Smoke Lake Zone
Multiple near surface drill intercepts of high-grade nickel – copper mineralization Including:
- 6.9 meters grading 1.1% Ni, 0.3% Cu (Hole TK22-104)
  - Including 1.9 meters grading 2.0% Ni, 0.4% Cu
- 5.3 meters grading 0.7% Ni, 0.8% Cu (Hole TK22-100)
  - Including 1.5 meters grading 2.0% Ni, 2.8% Cu
Ember Zone is located adjacent to a greater than six (6) kilometer long interpreted Chonolith / Feeder Dyke that is on strike with the Cupa Lake Versatile Time Domain Electromagnetic airborne (“VTEM”) anomaly.
- Cupa Lake also hosts coincident strong nickel and copper soil anomalies.
Chonolith / Feeder Dyke geological model continues to be confirmed.

Toronto, Ontario, Mar 27, 2023 – (ACN Newswire) – Palladium One Mining Inc. (TSXV: PDM) (OTCQB: NKORF) (FSE: 7N11) (the “Company” or “Palladium One“) is pleased to report the discovery of a new high-grade nickel – copper zone (“Ember Zone“) which is located 3.5 kilometers southwest of the Smoke Lake Zone (Figure 1) on the Tyko nickel – copper project, in Ontario, Canada (“Tyko Project“).

“The discovery of another high-grade nickel – copper zone at Tyko further supports our thesis that we have a significant new nickel camp on our hands. The Ember Zone exhibits many similarities to the nearby Smoke Lake Zone and other high-grade nickel – copper zones on the Tyko Project. Notably the Ember Zone is adjacent to an extensive interpreted Chonolith, which is on strike with the Cupa Lake VTEM / soil anomalies, suggesting Ember may be part of much larger mineralizing system,” commented Derrick Weyrauch, President and Chief Executive Officer.

The Ember Zone was first identified by a moderate two line VTEM anomaly in 2021 (see the Company’s news release dated October 28, 2021), reconnaissance soil sampling returned weakly anomalous nickel values up to 42 parts per million (“ppm“), and copper values up to 30 ppm (Figure 2). The weak geophysical and soil anomalies of the Ember Zone resulted in it being drill tested during Q4 2022, Its discovery reinforces the notion that any VTEM anomaly and even weak soil anomalies can point to high-grade nickel – copper mineralization on the Tyko Project.

Notably the Ember Zone is located just north of an interpreted lengthy east-west trending Chonolith / Feeder Dyke structure which is on strike with the Cupa Lake VTEM / soil anomaly (Figure 2). Cupa Lake represents a multi-line VTEM anomaly and a strong soil anomaly with values up to 132 ppm nickel and 512 ppm copper. Cupa Lake is a priority drill target which has an outstanding Exploration Permit application.

The geometry of the Ember Zone is not fully delineated, drilling to date was focused on defining the zone at shallow depths as the conductor’s orientation was poorly defined by the airborne VTEM survey. Thus far, the zone appears to form a southwest plunging body toward the interpreted Chonolith / Feeder Dyke structure located to the South (Figure 3). Hole TK22-108 was drilled as a Bore Hole ElectroMagnetic (“BHEM“) geophysical platform but deviated from the interpreted plunge of the zone. A BHEM survey is planned in Q2 2023 to better define the VTEM conductor and search for potential conductors at depth.

The 2022 drill program consisted of 70 holes totaling 13,038 meters, of which 14 holes are pending assay results. The 2023 field season is currently underway, with a high-resolution magnetic survey having been completed. The survey was designed to refine the geometry of the interpreted feeder dykes / chonoliths across the Tyko Project’s 30-kilometer strike length prior to additional drill testing. The 2023 exploration program will continue to focus on these newly identified and interpreted Chonolith / Feeder Dyke structures on the 30,000-hectare Tyko Project (Figure 1).

Figure 1. Tyko Property map showing various mineralized zones and multi-line VTEM anomalies, background is Calculated Vertical Gradient Magnetics (“CVG“).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/159861_9c58986a9486b8ed_001full.jpg

Figure 2. Ember Zone and Cupa Lake target showing drill holes, soil samples and recently staked claims (see the Company’s new release dated January 26, 2023) which cover the eastern extension of the interpreted Chonolith / Feeder Dyke Structure.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/159861_9c58986a9486b8ed_002full.jpg

Figure 3. Semi-massive to net-textured sulphide consisting of pentlandite, chalcopyrite, and pyrrhotite hosted by pyroxenite in the Ember Zone (Hole TK22-100).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/159861_9c58986a9486b8ed_003full.jpg

Figure 4. Ember Zone plan map and stylized cross section, with select significant intercepts looking northwest. Hole TK22-108 was drilled as a geophysical platform hole for a future BHEM survey. Hole TK22-107 was drilled to test the interpreted Chonolith structure but failed to intersect any ultramafic rocks or explain the strong magnetic anomaly, the Chonolith structure remains to be tested.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/159861_9c58986a9486b8ed_004afull.jpg

Figure 4. Continued

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6502/159861_9c58986a9486b8ed_004bfull.jpg

Table 1: Assay Results: Tyko 2022 Drill Results from New Ember Zone

Hole	From (m)	To (m)	Width (m)	Ni %	Cu %	Co %	TPM g/t	Pd g/t	Pt g/t	Au g/t
TK22-096	No significant values
TK22-097	54.9	56.3	1.4	0.52	0.26	0.01	0.06	0.02	0.04	0.00
TK22-098	No significant values
TK22-099	Abandoned due to hole deviation
TK22-100	51.3	56.6	5.3	0.71	0.85	0.02	0.09	0.03	0.05	0.00
	53.3	54.8	1.5	2.01	2.85	0.04	0.26	0.11	0.14	0.01
TK22-101	No significant values
TK22-102	54.4	60.4	6.0	0.28	0.15	0.01	0.05	0.01	0.02	0.02
	54.4	57.4	3.0	0.38	0.23	0.01	0.08	0.02	0.03	0.04
TK22-103	43.8	47.6	3.9	0.45	0.26	0.01	0.04	0.02	0.02	0.00
	43.8	45.8	2.1	0.74	0.45	0.02	0.08	0.03	0.04	0.00
TK22-104	32.0	38.9	6.9	1.07	0.28	0.02	0.07	0.03	0.04	0.00
	35.7	37.5	1.9	2.02	0.36	0.04	0.11	0.05	0.06	0.00
TK22-105	No significant values
TK22-106	12.2	20.4	8.2	0.24	0.14	0.01	0.02	0.01	0.01	0.00
	14.2	19.3	5.1	0.30	0.17	0.01	0.02	0.01	0.01	0.00
TK22-107	No significant values
TK22-108	No significant values, drilled as a BHEM geophysical platform

(1) Reported widths are “drilled widths” not true widths.

Table 2: Drill Hole Locations for assay results from this News Release

Hole	Azimuth	Dip	Length	NAD83 z16 East	NAD83 z16 North	Elevation
TK22-096	160	-75	225	625080.7	5419729	376
TK22-097	30	-55	150	625102.4	5419695	372.4
TK22-098	30	-70	126	625093.5	5419670	371.9
TK22-099	35	-45	22	625089.8	5419670	376.8
TK22-100	35	-45	75	625093.5	5419670	371.9
TK22-101	65	-45	84	625090.4	5419660	373.8
TK22-102	0	-45	111	625091.1	5419667	372.9
TK22-103	20	-45	96	625088.4	5419680	372.8
TK22-104	48	-50	63	625090.6	5419674	372.9
TK22-105	350	-70	99	625089.2	5419672	372.7
TK22-106	45	-45	51	625125.9	5419706	373
TK22-107	330	-75	195	625218.8	5419494	370.7
TK22-108	350	-70	300	625024.1	5419609	373.8

QA/QC
The drilling program was carried out under the supervision of Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration, and a Director of the Company.

Drill core samples were split using a rock saw by Company staff, with half retained in the core box and stored onsite at the Tyko exploration camp core yard facility.

Samples were transported in secure bags directly from the logging facility at the onsite exploration camp, to the Activation Laboratories Ltd. (“Actlabs“) in Thunder Bay, Ontario. Actlabs, which is ISO 17025 accredited with CAN-P-1579 (Mineral Lab). In addition to ISO 17025 accreditation, Actlabs is accredited/certified to ISO 9001:2015. All samples are crushed to 2 millimeters with a 250-gram split pulverized to 105 microns. Analysis for PGEs is performed using a 30 grams fire assay with an ICP-OES finish and for Ni, Cu, and Co using 0.25 grams by 4 acid digestion with ICP-OES finish. Ni, Cu and Co samples over 1.0 wt% were re-analysed by ore grade methods using 4 acid digestion with ICP-OES finish.

Certified standards, blanks and crushed duplicates are placed in the sample stream at a rate of one QA/QC sample per 10 core samples. Results are analyzed for acceptance within the defined limits of the standard used before being released to the public.

About Tyko Nickel – Copper – Cobalt Project
The Tyko Nickel – Copper – Cobalt Project, is located approximately 65 kilometers northeast of Marathon Ontario, Canada. Tyko is a high sulphide tenor, nickel – copper (2:1 ratio) project and currently has six known mineralized zones spanning over a 20 kilometer strike length.

Qualified Person
The technical information in this release has been reviewed and verified by Neil Pettigrew, M.Sc., P. Geo., Vice President of Exploration and a director of the Company and the Qualified Person as defined by National Instrument 43-101.

About Palladium One
Palladium One Mining Inc. (TSXV: PDM) is focused on discovering environmentally and socially conscious metals for green transportation. A Canadian mineral exploration and development company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel deposits in Canada and Finland. The Läntinen Koillismaa (LK) Project in north-central Finland, is a PGE-copper-nickel project that has existing NI43-101 Mineral Resources, while both the Tyko and Canalask high-grade nickel-copper projects are located in Ontario and the Yukon, Canada, respectively. Follow Palladium One on LinkedIn, Twitter, and at www.palladiumoneinc.com.

ON BEHALF OF THE BOARD
“Derrick Weyrauch”
President & CEO, Director
For further information contact:
Derrick Weyrauch, President & CEO
Email: info@palladiumoneinc.com

Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. These forward-looking statements include, but are not limited to, statements relating the 2023 exploration program and its focus and results; the pending results of the Company’s previous drilling; the standards of testing; and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with project development; the need for additional financing; operational risks associated with mining and mineral processing; fluctuations in palladium and other commodity prices; title matters; environmental liability claims and insurance; reliance on key personnel; the absence of dividends; competition; dilution; the volatility of our common share price and volume; and tax consequences to Canadian and U.S. Shareholders. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/159861

Samaiden Gets Bursa Approval for the transfer to Main Market

PETALING JAYA, Malaysia, Mar 27, 2023 – (ACN Newswire) – Samaiden Group Berhad, a renewable energy (RE) specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants has announced the approval obtained from Bursa Malaysia Securities Berhad for the transfer of the listing of and quotation for its entire issued share capital and outstanding warrants from the ACE Market to the Main Market of Bursa Securities today.

Group Managing Director of Samaiden, Ir. Chow Pui Hee

Bursa Securities had, vide its letter dated 27 March 2023, approved the transfer under the "Industrial Products & Services" sector. The transfer of listing will take effect two market days upon the announcement to Bursa Securities on the transfer date to be announced later.

In relation to the transfer of listing, Samaiden had met the profit requirements under the SC's Equity Guidelines where it had achieved an aggregate after-tax profit of RM32.59 million over the last four financial years and an after-tax profit of RM11.93 million for the most recent financial year.

Group Managing Director of Samaiden, Ir. Chow Pui Hee said, "The successful transfer of listing of Samaiden to the Main Market is testimony to the strength of our business and track record of EPCC projects that we have completed. We will continue to leverage on our RE expertise in PV systems and power plants to seek more projects as businesses and other organisations move towards more sustainable operations. We are also encouraged by government initiatives that serve as the catalyst for the RE industry development in Malaysia and which enable us to participate as an investor."

"The listing on the Main Market not only reflects Samaiden's current scale of operations but will also help to improve investor's recognition and interest in our shares, especially from institutional investors, which in turn will enhance the attractiveness and marketability of our shares. It will also enhance our standing and credibility among customers, suppliers, sub-contractors, business associates, bankers and employees that we have worked hard to maintain ever since our listing on the ACE Market on 15 October 2020."

Samaiden Group Bhd: 0223 [BURSA: SAMAIDEN], https://samaiden.com.my/

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

WIKA Books Sales of Rp21.48 Trillion, 20.6% Growth YoY

JAKARTA, Mar 27, 2023 – (ACN Newswire) – PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA] booked sales of Rp21.48 trillion in 2022, a 20.6% growth year-on-year (YoY) compared with Rp17.81 trillion booked in 2021.

WIKA's President Director, Agung Budi Waskito (Agung BW), said that the largest contributors to WIKA's sales performance were the infrastructure and building segment, followed by the industry segment, energy and industrial plant segment, and finally realty and property segment.

"This achievement shows that WIKA's operations has become more sustained and more efficient. This can be seen from WIKA's project burn rate of 39% in 2022, an improvement from 30.2% in 2021. The Company also recorded a higher gross profit margin of 10.3% in 2022, higher than 9.5% in 2021," said Agung BW.

The good operating performance was a result of WIKA's success in completing domestic projects in 2022, such as the Sukamahi Dam in West Java. WIKA has also completed supporting projects for the G20 Summit, such as revitalisation of VVIP terminals at I Gusti Ngurah Rai International Airport in Bali and Halim Perdana Kusuma International Airport in Jakarta. WIKA has also completed installation of the 50,000 DWT single point mooring in Pengapon, Central Java to improve national energy resilience.

WIKA Sets Transformation Strategy

Following the achievements in 2022, WIKA has set transformation steps to ensure more prudent project selection, adopting lean construction, stronger digitalisation through closer integration of WIKA's BIM capabilities and ERP systems, and strengthening the Company's financial position.

"Through its transformation strategy, WIKA will have a more effective business process to achieve better results for both project owners and the Company," said Agung BW.

PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA]

Contact Person:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id

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

SNS Network Technology Posts 4Q Net Profit Jump of 40.5%

IPOH, Malaysia, Mar 27, 2023 – (ACN Newswire) – SNS Network Technology Berhad, an ICT products, services and solutions provider, today announced that the Group's profit after tax (PAT) for the fourth quarter ended 31 January 2023 (4Q FY2023) increased by 40.5% to RM16.77 million compared with RM11.94 million in the immediate preceding quarter (3Q FY2023).

Managing Director of SNS, Ko Yun Hung

SNS recorded revenue that gained 46.2% to RM509.86 million in 4Q FY2023 compared with RM348.84 million in 3Q FY2023. For the quarter under review, there was a 44.6% rise in profit before tax (PBT) to RM22.09 million compared with RM15.28 million in 3Q FY2023.

For FY2023, the Group registered RM43.72 million in PAT as well as PBT of RM57.36 million on RM1.40 billion in revenue. There are no comparative figures on a year-over-year basis as SNS was listed on the ACE Market of Bursa Malaysia on 2 September 2022.

Managing Director of SNS, Ko Yun Hung, said, "The commercial channel of our business remains the mainstay as the Group continued to see commendable growth in revenue and profitability. The demand cuts across industries and is from both the government and private sectors. Just recently we won a tender from the Ministry of Education valued at RM41.33 million through our Device-as-a-Service (DaaS) offering that addresses the gap for learning through the upgrade of devices and technology for students and teachers. Our DaaS offering provides convenience for businesses and organizations, enabling us to support our customers in their digital transformation journey. Additionally, the DaaS business model allows us to retain our customers with a higher likelihood of service renewal and generate recurring revenue for up to five years."

"As we look ahead to the market in the technology industry, we anticipate a growing demand for digital transformation projects. With our expertise in this area and a proven track record of successful implementations, we are well-positioned to secure more projects in the coming months. As businesses and organisations continue to embrace digitalisation, we remain committed to delivering innovative solutions that meet their evolving needs and help them stay ahead of the curve in an increasingly competitive landscape."

The Group has also announced a second interim single-tier dividend of 0.25 sen per share with an ex-date of 10th of May in respect of FY2023 to be paid on 26th of May 2023.

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

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