Hektar REIT Recorded Significant Improvement

KUALA LUMPUR, Aug 26, 2022 – (ACN Newswire) – Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (Hektar REIT), today announced the second quarter results ended 30 June 2022 (2Q 2022). Hektar REIT recorded revenue of RM29.37 million, an increase of 14.2% compared to the RM25.71 million recorded in the corresponding quarter of the previous year. The higher revenue is attributed to increased rental & car park income and higher hotel occupancy. Hektar REIT registered a net property income of RM13.70 million, an increase of 34.3% compared to RM10.20 million in 2Q 2021, while the realised net income was RM6.57 million, a substantial increase of 317.3% compared to the same period in the preceding year.

Subang Parade

En. Johari Shukri bin Jamil, Chief Executive Officer of Hektar Asset Management Sdn. Bhd.

Earnings per unit rose significantly by 311.8% to 1.40 sen for 2Q 2022 compared with the same quarter in the previous year. Based on the financial performance for the current quarter, Hektar REIT has declared an interim income distribution of 2.70 sen per unit, amounting to RM12.72 million, to be made on 26 September 2022.

Hektar REIT's performance for the six months ended 30 June 2022 (1H 2022) showed an increase in revenue by 11.4% to RM58.49 million compared with RM52.49 million registered in the corresponding period of the previous year. The net property income of RM30.33 million exhibited an increase of 24.8% compared with RM24.30 million in 1H 2021, while the realised net income grew by 151.0% to RM20.32 million compared with RM8.10 million recorded in 1H 2021.

After two straight years of the Covid-19 pandemic, the retail landscape is currently going through normalization & early phases of recovery. The portfolio of malls under Hektar REIT has experienced a 58% year-on-year (y-o-y) increase in visitor footfall and a 50% higher vehicle count y-o-y. This is in tandem with the huge improvement in the tenant sales performance at our malls. Despite the improved performance, the Manager has adopted a cautious outlook for the coming quarters in light of inflationary pressure and uncertain global economic outlook that may affect domestic economic activities. As part of our business sustainability measures to ensure that our malls have stable occupancy, we will continue to monitor and review our rental strategy.

En. Johari Shukri bin Jamil, Chief Executive Officer of Hektar Asset Management Sdn. Bhd. said: "As part of our sustainable business strategy, we will continue adopting prudent financial management, cost optimization initiatives, and enhancing our asset efficiencies to help cushion the impact of increasing interest rates and rising cost of inflation. Furthermore, we continue to increase our engagement with all stakeholders, including tenants, to offer them competitive rental rates to facilitate their recovery."

"At the same time, for our shoppers and loyal patrons, we are continuously working on enhancing our existing facilities at our shopping malls to provide a great retail experience. For our valued unitholders, we remain committed to distributing at least 90% of Hektar REIT's realised net income for the financial year ending 31 December 2022."

"Hektar REIT's Assets Under Management (AUM) comprises five established neighbourhood-focused malls and one regional shopping mall, which play a key role in serving as a community hub. Recently, Hektar REIT's Sustainability and CSR initiatives have been recognised and awarded with Company of the Year for Stakeholder & Community Engagement at the Sustainability & CSR Malaysia 2022 Awards. We are humbled to receive this award and will continue to play our role towards the betterment of our communities."

"Similarly, our efforts towards Environment, Social & Governance (ESG) have been recognised and rewarded by the FTSE4Good Bursa Malaysia Index by FTSE Russell to an upgrade of 4-star rating in the latest June 2022 evaluation. These acknowledgements further affirmed our commitment to reducing our environmental footprint, enhancing our corporate governance, and increasing our responsibility towards our stakeholders."

Hektar REIT: http://www.hektarreit.com/

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Bintai Kinden Posts 152% Rise in Revenue for 1Q

PETALING JAYA, Malaysia, Aug 26, 2022 – (ACN Newswire) – Mechanical and electrical (M&E) engineering services specialist Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998) today announced that the Company registered a 152.0% increase in revenue to RM30.88 million for the first quarter ended 30 June 2022 (1Q FY2023) compared with RM12.26 million in the corresponding quarter of the previous financial year (1Q FY2022) mainly due to higher contribution from M&E engineering business.

En. Azri Azerai, Executive Director of Bintai Kinden

Bintai Kinden reported a profit after tax (PAT) of RM968,000 for the quarter under review, which is 23.0% lower than the PAT of RM1.25 million recorded in 1Q FY2022 as gross profit margin decreased to 16.45% from 30.0% after taking into account variation orders from completed M&E projects.

The Company's M&E engineering business contributed RM26.43 million for 1Q FY2023, which is an increase of 203.72% compared with RM8.7 million in 1Q FY2022. The concession business brought in RM3.6 million, a marginal increase compared with RM3.55 million. Bintai Kinden operates the entire in-campus accommodation for Universiti Melaka as part of a 25-year concession from Kolej Teknologi Islam Melaka Berhad (KTIMB). As of 31 March 2022, KTIMB owes Bintai Kinden an outstanding sum of RM30.18 million from the concession.

En. Azri Azerai, Executive Director of Bintai Kinden said, "We will continue to leverage on our core M&E engineering specialisation to seek opportunities in Malaysia and around the region. The surge in economic activities following the previous two years of intermittent lockdowns due to COVID-19 will definitely have positive spillover effects."

"Through our indirect subsidiary, Johnson Medical International Sdn Bhd, we have a niche as a turnkey solutions provider of mobile, modular and offsite engineered healthcare infrastructure that we intend to expand and in which our M&E engineering services can also benefit. Through our 51%-owned subsidiary, Bintai Energy Sdn Bhd, we have been busy exploring opportunities to distribute flanges and other related piping products, the latest of which is a business collaboration agreement with PT Raintech Indo Energi."

Bintai Energy has also recently been granted approval for a license by Petroliam Nasional Berhad under the Standardised Work and Equipment Categories Code, to bid for oil and gas (O&G) projects that come under Petronas. Bintai Kinden's orderbook covering M&E as well as O&G projects total RM120.43 million.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/

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Minetech’s Revenue for 1Q Rises 43.0% to RM24 Million

KUALA LUMPUR, Aug 25, 2022 – (ACN Newswire) – Minetech Resources Berhad, a civil engineering specialist and bituminous products manufacturer, today announced that the Company registered a 43.2% rise in revenue for the first quarter ended 30 June 2022 (1Q FY2023) to RM24.05 million compared with RM16.80 million in the corresponding quarter of the last financial year (1Q FY2022).

Matt Chin, Executive Director of Minetech

For the quarter under review, the Company recorded a loss before tax (LBT) of RM1.66 million compared with LBT of RM4.35 million in 1Q FY2022.

On a segmental basis, Minetech's civil engineering division posted revenue contribution of RM13.7 million for 1Q FY2023, a gain of 34.3% compared with RM10.2 million in 1Q FY2022. The manufacturing division, which produces bituminous products for pipe coating, waterproofing and sealing, recorded revenue contribution of RM5.85 million, a gain of 75.1% compared with RM3.34 million in 1Q FY2022.

Matt Chin, Executive Director of Minetech, said, "The civil engineering division's contribution was supported by higher revenue from the Selinsing Gold Mine in the quarter under review compared to the corresponding quarter of the previous financial year as production regained traction while the manufacturing division saw a significant rise in revenue due to an increase in sales as a result of improved demand from water piping and road paving projects."

"Recent news flow point to firmer domestic economic growth and the announcement of the MRT3 project together with the continuation of other large civil infrastructure projects is positive for the construction sector as there will be need for civil engineering services as well as bituminous products."

"We will continue to be vigilant given the more challenging global economic outlook. We have rationalised our corporate structure and in recent years diversified into other businesses to enhance our financial performance while ensuring more stable recurring income. Our narrower losses for the quarter are a result of these measures."

Minetech Resources Berhad: 7219 [BURSA: MINE], https://minetech.com.my/

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

VCREDIT 1H2022 Achieves a Solid Performance

HONG KONG, Aug 24, 2022 – (ACN Newswire) – VCREDIT Holdings Limited ("VCREDIT" or the "Group"; stock code: 2003.HK), a leading independent online consumer finance provider in China, announced its unaudited interim results for the 6 months ended 30 June 2022 (the "Period"). During the Period, the Group achieved a solid performance from operations despite a number of challenges, including outbreaks of the COVID-19 coronavirus and lockdown of Shanghai and other cities in China and deterioration in the real estate sector. The Group record a total income of RMB1,582.5 million, and an adjusted Net Profit of RMB331.5 million. The Board has recommended the distribution of an interim dividend of HK10 cents per ordinary share of the Company (the "Share") for the Period to shareholders of the Company.

Investment Highlights

1H 2022(RMB million)
Total Income: 1582.5
Operating Profit: 430.4
Net Profit: 328.0
Adjusted net profit: 331.5
Proposed Interim dividend: HK10 cents

During the Period, the Group achieved solid performance from operation in line with its expectations, notwithstanding adjustments to its business strategy and model to accommodate alignments between its product and regulatory limits on consumer finance interest rate and risks within the Chinese macro-economy arising from intermittent COVID-19. At the same time, the Company continued to make evolutionary adjustments to risk management model to reflect market developments and behavioural changes that affect demand for its products as the Group maintain its strategy of targeting higher quality prime and near-prime borrowers.

Its loan origination volume reached a record high of RMB24.64 billion for the Period, representing an increase of 9.4% compared to the six months ended June 30, 2021 and an increase of 35.5% compared to the six months ended December 31, 2021. Outstanding loan balance exceeded RMB20.49 billion as of June 30, 2022, representing an increase of 31.1% compared to RMB15.64 billion as of December 31, 2021.

Initiate strategy changes that foster flexibility

By using dynamic data analytics to constantly refine its penetration as well as enriching its service to customers, the number of its registered users increased to 118.1 million, and are paying dividends as 89.2% of its loan volume for the Period was contributed by repeat borrowers. In order to reach and stay connected with more of its target customers, the Group has expanded its network of customer acquisition channels and use of industry platforms with priority given to channels that capture high-quality customers.

The collaborations with newly-partnered channels, such as OPPO, Xiaomi and China Telecom, are proving mutually beneficial. Notwithstanding, to improve customer experience on its digital platform, the Group continues to refine its online APPs along with various loan facilitation and post-loan management services.

Asset quality remains robust despite market downturn

Despite the added risks within China's macro environment due to the effects of outbreaks of the COVID-19 and lockdown of Shanghai and other cities in China and deterioration in the real estate sector in 2021, which persisted throughout the first half of 2022, the Group manages to improve its delinquency ratios and asset quality metrics which are currently at levels that are considerably better than second half of 2021.

As a leading fin-tech enterprise, the Group leveraged its leading finance technology and robust risk control capabilities to mitigate the inherent risks to its business and continued to optimize its credit risk policy in order to ensure the Group captured and served higher-quality customers in the sterner operating environment. As a result, the Group's credit control capabilities are evidenced by the outstanding performance of its asset quality metrics. The Group's first payment delinquency ratio achieved a new record low of around 0.25% for the Period, whilst its M1-M3 ratio and M3+ ratio declined to 2.07% and 2.06%, respectively, in the second quarter of 2022 from 4.01% and 2.39%, respectively, in the fourth quarter of 2021.

Stable financial institutional partners drive sustainable growth to the business

By the end of the Period, the Company had long-term collaborative relationships with 80 external funding partners, including commercial banks, consumer finance companies and trusts. Through these long-standing cooperations, funding costs continued presentation a declining trend.

Furthermore, third-party guarantee companies and asset management companies secure the ecosystem in terms of funding flexibility and protection to its funding partners. Moreover, to strengthen the relationship with its funding partners, the Group has been exploring potential technology cooperation opportunities to empower its digital capabilities.

Outlook

Looking forward, as an innovation-oriented and technology-driven finance company, the Group will strive to maintain its agile, efficient and regulated business approach. Fulfilling its prime and near-prime customers under-served credit demands is its driving force to systemise marketing strategies, upgrade credit risk algorithms and models, and optimise product operation.

Moving forward, the Group intends to continue to execute these strategies to maintain its growth in the industry, including streamline and extend its credit solutions to better serve its customers to improve brand recognition and customer loyalty and creditworthiness, enhance risk-centered technology capability through constant research and development; consolidate regulated and long-term collaborations with licensed financial institutional partners and business partners; compliance with the laws and regulations as the first priority to maintain the sustainability of its business; cultivate a dynamic enterprise value and culture and grow its in-house talents.

About VCREDIT Holdings Limited (2003.HK)
VCREDIT Holdings Limited (stock code: 2003.hk) ("VCREDIT") is a leading player in China's consumer finance industry with over 10 years of track record. The Company caters to prime and near-prime borrowers underserved by traditional financial institutions by offering credit card balance transfer products, and consumption credit products. To match the funding needs for these products, the Company primarily engages institutional funding partners through three types of sustainable and scalable funding structures: trust lending, credit-enhanced loan facilitation and pure loan facilitation. Through such funding structures, VCREDIT provides institutional funding partners with solutions at varying levels of risk discretion and flexible profit-sharing arrangements.

For enquiries, please contact Hill+Knowlton Strategies Asia:
Vivian Kwan / Jennifer Wong
Tel: (852) 9146 6322 / (852) 2894 6255
Email: vcredit@hkstrategies.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

IMA and FocusCore Group KK Sign Strategic Alliance to Support Management Accounting Professionals

Montvale, N.J. & Tokyo, Japan, Aug 23, 2022 – (ACN Newswire) – To better support the careers of accounting and finance professionals in Japan and greater Asia, IMA(R)(Institute of Management Accountants) has formed a new business partnership with FocusCore, an executive search company focused on serving clients in the APAC region with hiring challenges of finance leadership in Japan. FocusCore, founded in 2011, specializes in retained search for finance, accounting, HR, supply chain, and country management for the Japan region. The partnership agreement came into effect in July 2022.

Through this new strategic relationship, FocusCore candidates will receive a free three-month trial membership with IMA and access to numerous IMA resources. These include continuing education courses (many of which are free for members), IMA's proprietary CareerDriver(R) career assessment and development tool, webinars, research and professional publications, and IMA chapter and virtual networking. Moreover, with the free three-month trial membership with IMA, FocusCore clients will also gain access to IMA's U.S. CMA(R)(Certified Management Accountant) program.

IMA members in the region will benefit from the alliance through shared thought leadership, relevant career development information, and joint business events to promote networking. Together, the two organizations will hold joint IMA chapter events, professional development conferences, and information sessions about IMA's U.S. CMA certification program. To help kick-off the new alliance, IMA and FocusCore are planning to hold an in-person event in October 2022 to discuss the evolving roles of management accountants in Japan.

"A crucial element to furthering the management accounting profession in Japan is to support those who are looking to explore future career options and maximize their potential," said Nina Michels-Kim, CMA (U.S.), CSCA, IMA Director of Partnerships, Japan and Korea. "By working together with FocusCore, we're able to share valuable tools, information, and resources to a larger pool of professionals."

"It's critical for Japan finance and accounting professionals to have support to improve their skillset and find the right leadership positions," said FocusCore managing director Simon Jelfs. "This partnership allows APAC leaders who are leading entities in Japan to have a greater resource to find the best talent. In addition, by working together with IMA, we are able to share top-shelf tools and information to our network," said Dr. David Sweet, founder of FocusCore. "With this strategic alliance, APAC businesses and individuals now have greater access to resources in Japan to help combat a short talent market. Individuals who take advantage of this partnership will have an exceptional edge in the market."

About IMA(R) (Institute of Management Accountants)

IMA(R) is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA(R)(Certified Management Accountant) and CSCA(R)(Certified in Strategy and Competitive Analysis) programs, continuing education, networking, and advocacy of the highest ethical business practices. Twice named Professional Body of the Year by The Accountant/International Accounting Bulletin, IMA has a global network of about 140,000 members in 150 countries and more than 350 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe and Middle East/India. For more information about IMA, please visit www.imanet.org.

About Focuscore

FocusCore, is a boutique human resources and recruitment service agency in Asia. It was voted #1 in Japan back office recruitment in HR, Supply Chain, Finance & Accounting for Small/Medium size foreign capital companies. Building on their specialization in retained recruitment for Country Managers, CFOs, Finance Directors, COOs, HR Directors and Supply Chain Directors, FocusCore helps companies focus on their core business. For more information about FocusCore, please visit www.japan.focuscoregroup.com.

Press contact
PRecious Communications for IMA
E: IMA@preciouscomms.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Spartan Capital: Society Pass (Nasdaq: SOPA) 10Q Shows Early Progress for Four Verticals

SINGAPORE, Aug 22, 2022 – (ACN Newswire) – Spartan Capital Securities LLC ("Spartan Capital") issues Equity Research Report on Society Pass Inc. (Nasdaq: SOPA) ("SoPa").

Click Here (on Society Pass website) to view the full Spartan Capital Equity Research Report. https://tinyurl.com/SocietyPass

Summary Points:

– Vietnamese e-commerce luxury goods retailer Leflair generated 92% of revenue and has strongly rebounded since being purchased out of bankruptcy and relaunched last year. Leflair posted a minor gross loss and a $694k operating loss. We look for four major catalysts for Leflair for the remainder of 2022: first, the launch of a new app, second, re-entry into the Philippines market, entry into the Indonesian market and the 4Q holiday shopping season.

– The second largest contributor was online grocery and food delivery comprising 5% of revenue. This included both Pushkart, which offers supermarket delivery in the Philippines and Handycart which offers restaurant delivery in Hanoi, Vietnam. We suspect that Pushkart generated the bulk of this revenue. During 3Q, the company acquired Mangan, a restaurant delivery company in the Philippines, which should substantially increase segment revenue.

– The telecom segment is represented by Gorilla which was acquired in May. It generated $5.6k in data sales revenue, versus our estimate of zero, ahead of the relaunch of its app planned for late 3Q.

– Both telecom and merchant POS had modest positive gross income, while the other two did not, netting to effectively zero. The operating loss was $7.6 million, with the vast majority of this related to G&A. As revenue ramps, we expect each unit to first turn a positive gross margin, then cover operating expenses. As is normal for a growth company, we expect costs related to growth to keep operating income negative for at least the next year.

– Lastly, EBITDA came in at negative $4.4 million and the company ended June with $28 million in cash. Our model has the company generating $10 million more in EBITDA losses through the end of 2023 before turning positive in 2024, so cash appears more than adequate. The Q also provided details on recent acquisitions, which are being done with modest cash outlays — all seven closed acquisitions were done for about $1.2 million in cash, plus stock. So we see the opportunity for many more acquisitions as well with the cash on hand.

About Society Pass

As a digitally-focused loyalty and data marketing ecosystem in Vietnam, Indonesia, Philippines, Singapore and Thailand and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, SoPa is an acquisition-focused e-commerce holding company operating 6 interconnected verticals (loyalty, lifestyle, F&B, telecoms, digital media, and travel), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

SoPa's business model focuses on analysing user data through its Society Pass loyalty platform and circulation of its universal loyalty points or Society Points. The Society Pass loyalty platform drives customer acquisition and increases customer retention for merchants. Since its inception, SoPa has amassed over 3.3 million registered consumers and over 205,000 registered merchants/brands onto its platform. It has invested 2+ years building proprietary IT architecture with cutting-edge components to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Leflair.com, Vietnam's leading lifestyle e-commerce platform, Pushkart.ph, a popular grocery delivery company in Philippines, Handycart.vn, a leading online restaurant delivery service based in Vietnam, Mangan, the leading local restaurant delivery service in Philippines, Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator, Thoughtful Media Group, a Bangkok-based, a social commerce-focused, premium digital video multi-platform network, and NusaTrip ("NusaTrip"), a leading Jakarta-based Online Travel Agency ("OTA") in Indonesia and across SEA. For more information, please check out: http://thesocietypass.com/.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

G Neptune Seeks Shareholders’ Approval to Acquire Soutern Score, a construction Management Services Company, as part of its Proposed Regularisation Plan

KUALA LUMPUR, Aug 22, 2022 – (ACN Newswire) – G Neptune Berhad is pleased to announce that its circular, which includes multiple proposals as part of its proposed regularisation plan, has been issued today. Upon completion, the proposed regularisation plan is expected to address its Guidance Note 3 (GN3) status as well as to return it to a stronger financial standing and profitability that will benefit all stakeholders.

Executive Director and Chief Executive Officer of Southern Score Gan Yee Hin and Executive Director and Head of Group Investment Banking & Islamic Banking of Kenanga Investment Bank Berhad Datuk Roslan Hj Tik [L-R]

The proposed regularisation plan includes amongst others, the proposed acquisition of the entire equity interest in Southern Score Sdn Bhd from Super Advantage Property Sdn Bhd for a purchase consideration of RM252.0 million to be satisfied through the issuance of 1.68 billion shares.

Southern Score is a construction management services company with a recorded net profit of RM6.51 million, RM19.20 million and RM35.18 million in the financial year ended 31 December 2019, 2020 and 2021 respectively. Super Advantage, being the vendor of Southern Score, has provided cumulative net profit guarantee of RM80.0 million over the three-year period from 2022 to 2024. Super Advantage is held by Tan Sri Datuk Seri Gan Yu Chai, the Managing Director of Southern Score, a veteran in the construction and property development industries with more than 30 years' experience as well as Gan Yee Hin, the Executive Director and Chief Executive Officer of Southern Score.

Other than the proposed acquisition, the proposed regularisation plan also entails the following:

– proposed consolidation of every ten existing shares in G Neptune into one consolidated share;
– proposed settlement of debt amounting to RM3.1 million to Mr. Chai Tham Poh, an Executive Director of G Neptune, via the issuance of 20.67 million shares;
– proposed private placement of 543.05 million shares at an issue price to be determined later but shall not be less than 20 sen per share to eligible investors to be identified later; and
– proposed exemption under the take-over rules from the obligation to undertake a mandatory take-over offer for the remaining G Neptune shares not already owned by Super Advantage as well as Tan Sri Datuk Seri Gan Yu Chai and Gan Yee Hin.

Through the proposed private placement, G Neptune aims to raise at least RM108.61 million to be used for amongst others, the purchase of building materials and repayment to contractors for future construction projects, as well as for TCS SS Precast Construction Sdn Bhd (TSPC), a CIDB Grade 7 contractor in which Southern Score owns a 35% stake.

Additionally, to better reflect the Company's corporate identity going forward, it is proposed that the Company name "G Neptune Berhad" be changed to "Southern Score Builders Berhad".

Commenting on the proposed acquisition, Gan Yee Hin, said, "The proposed acquisition of Southern Score is an integral part of the regularisation plan as it will enable G Neptune to enter into the construction industry which is a thriving and growing industry. This will also help in regularising the Company's financial condition as it currently does not have a core business to sustain its listing status. We expect Southern Score to benefit from the growth in the construction sector which is expected to be positive in 2022 following the reopening of Malaysia's economy."

"We also intend to venture into the manufacture of Industrialised Building Systems (IBS) products through TSPC as we see demand rising given that the construction sector is moving towards the adoption of IBS for better construction quality and productivity, less dependency on foreign labour as well as lower costs. Government initiatives are also supportive of this adoption."

The proposed regularisation plan and the proposed change of name are subject to, amongst others, GNB shareholders' approval at the forthcoming general meeting to be held on 13 September 2022.

Kenanga Investment Bank Berhad is the principal adviser and sponsor for the proposed regularisation plan as well as placement agent for the proposed private placement while Malacca Securities Sdn Bhd is the independent adviser for the proposed exemption.

G Neptune Berhad: 0045 [BURSA: GNB], https://www.gneptune.com/
Southern Score: https://southernscore.com.my/

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

CTG DUTY-FREE HK Public Offering Has Been Fully Applied with High Multiple Order Coverage From International Placing

HONG KONG, Aug 18, 2022 – (ACN Newswire) – On August 15, 2022, China Tourism Group Duty Free Corporation Limited ("CTG DUTY FREE") launched its global offering of H shares.

CTG DUTY-FREE recently held its H-share global offering press conference in Beijing to officially launch its global offering on the Hong Kong Stock Exchange. Mr. Peng Hui, Chairman of the Board and Executive Director; Mr. Chen Guoqiang, Executive Director and General Manager; Mr. Wang Xuan, Executive Director and Standing Deputy General Manager; Mr. Chang Zhujun, Deputy General Manager, Secretary to the Board and Joint Company Secretary, and Mr. Yu Hui, General Accountant, attended the press conference and had communicated with reporters from domestic and international media.

At the press conference, the representative of the Company's sponsors provided an overview of the global offering to the media. CTG DUTY-FREE plans to issue approximately 103 million H Shares under the stock code of 1880.HK. The offer price range is HK$143.5 to HK$165.5 per H Share, and the offering starts on August 15, 2022.

The Company has successfully procured nine cornerstone investors, including China State-Owned Enterprise Mixed Ownership Reform Fund Co., Ltd., AMOREPACIFIC Group, COSCO Shipping (Hong Kong) Co., Limited, Rongshi International Holding Company Limited, Shanghai Airport Investment Corporation Limited, Luzhou Laojiao Co., Ltd., China Structural Reform Fund Corporation Limited, Hainan Free Trade Port Construction Investment Fund Co., Ltd., and The Oaktree Funds.

The management of CTG DUTY-FREE stated that to consolidate its leading position as the world's largest travel retail operator, the Company will continue to build competitive barriers in its existing business and maintain its industry leadership through ongoing efforts to develop offshore duty-free business, expand traditional retail channels in China, and further develop high-quality duty-paid merchandise sales. The Company will actively expand new business and explore more profit growth opportunities, such as building more integrated travel retail complexes, opening downtown duty-free stores ahead of competitors, and exploring overseas channels. The Company will also reinforce its competitive advantages by deepening the relationship with upstream suppliers and domestic and overseas channels through the capital operation. For example, it will expand the upstream supply chain through direct cooperation with upstream brands or direct investment while seeking acquisition opportunities in domestic and overseas markets. The Company will further strengthen its core capabilities, including operation management, procurement capability, supply chain management (logistics and distribution system), information system management and digitalization and marketing capabilities to achieve continuous development. In addition, the Company will attract and retain top-notch strategic talents to preserve corporate human resources.

Concerning the H-share offering, the Company's management also responded to the concerns of the media and investors.

Regarding the possible positive influences of listing in Hong Kong, the management indicated that globalization is one of the key strategic goals for the Company's long-term development. Hong Kong features an open and mature capital market, which international investors have widely recognized for many years. The listing in Hong Kong will bring three benefits to the Company. First, it will help further enhance the Company's brand influence and visibility in the international market and support the Company in consolidating its leadership as a global travel retail operator. Second, it will facilitate the Company's construction on both domestic and overseas financing platforms and promote its further development with support from domestic and overseas capitals. Third, it will build up the Company's capital barriers and enables the Company to allocate more funding to the construction of projects such as Haikou International Duty Free Complex, Site II, Phase I of Sanya International Duty Free Complex, and downtown duty free stores. Fourth, it will promote the Company's globalization and continuous expansion of overseas business.

Regarding whether CTG DUTY-FREE will open stores in travel destinations for Chinese consumers, the Company mentioned that since its establishment in 1984, it had expanded its business operation around the changing consumer patterns and needs. An increasing number of Chinese people are travelling abroad, and Chinese tourists have become a significant consumer group in the global duty free and travel retail industry. Previously, the Company opened and operated nine overseas duty free stores following the footprints of Chinese tourists, all of which have achieved good results. Next, the Company will continue to open stores in popular destinations among Chinese travelers, its major consumer group, to enhance the Company's performance and generate better investment returns for shareholders.

Concerning the impact of the recent COVID-19 pandemic in Hainan province on CTG DUTY-FREE, the Company commented that the influence was only an effect and will not have a more significant effect on the Company's operation in the mid to long term. From 2021 and March to May 2022, Hainan and Shanghai have suffered from COVID-19 resurgence one after another. In the face of challenges, the Company made comprehensive efforts offline and online to ensure a stable business operation. Specifically, the overall passenger foot traffic in Hainan Province in 2021 was only 97.4% of the pre-pandemic level. Still, the Company generated revenue of RMB47.1 billion in Hainan, 3.5 times the corresponding revenue in 2019. In addition, from March to May 2022, the Company's operations were impacted by the epidemic to a certain extent, but the Company's operations have recovered rapidly since late May. Since June, the Company's monthly sales have improved significantly, and the revenue in June increased 13% year-on-year. Moreover, in the first half of 2022, the gross margin of the Company's core business improved by 5.5 percentage points compared with the second half of 2021 and remained stable. Looking ahead to the second half of this year and afterward, the Company is expected to successfully launch several new projects, including Haikou International Duty Free Complex and Site II, Phase I of Sanya International Duty Free Complex, which will assist the Company's business expansion. Moreover, for the mid and long term, the Company has already made a full deployment in downtown stores and port stores, which will also contribute to the Company's revenue growth in the future.

The Hong Kong Public Offering was closed at noon on 18 August 2022. It is said that the Hong Kong Public Offering has been fully applied, and the reactions from both retail investors and margin are positive. It is also said that the Company's international placing was fully covered within an hour after the opening of the book building last Friday. Prior to that, best-known international and Chinese institutions have actively placed orders to participate in the Company's global offering of H shares. The information said a high multiple order coverage was achieved within two days.

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Malaysian Genomics Explores Strategic Partnership with MAHSA Health through MoU

PETALING JAYA, Malaysia, Aug 18, 2022 – (ACN Newswire) – Malaysian Genomics Resource Centre Berhad's (Bursa: MGRC, 0155) wholly-owned subsidiary, MGRC Therapeutics Sdn. Bhd. signed a memorandum of understanding (MoU) with MAHSA Health Sdn Bhd to discuss the formation of a strategic partnership promoting practice-based education, research and knowledge exchange.

En. Azri Azerai, Executive Director of Malaysian Genomics

Datin Dr Maya, Chief Executive Officer of MAHSA Health

Malaysian Genomics is the first company in Malaysia to pioneer genomics and genetic screening in Malaysia for over 17 years. Since then, Malaysian Genomics has expanded its offerings in other important areas in the healthcare and wellness that include cancer immunotherapy, cell manufacturing services and kidney dialysis. Malaysian Genomics continues to strive to provide the latest in precautionary, preventive and curative healthcare services for its local and worldwide customers.

MAHSA Health Sdn Bhd is a Malaysia-grown company, part of MAHSA Group of Companies, which is determined to be a revolutionary leader in healthcare. Since its inception in 2017, MAHSA Health has been striving to be in the forefront of primary healthcare, focusing on family health and wellness.

Encik Azri Azerai, Executive Directorof Malaysian Genomics said, "We look forward to sharing our experience in genomics, bioinformatics, and biopharmaceuticals with MAHSA Health via this collaboration. By providing industry inputs and insights to MAHSA, we hope to benefit students at MAHSA with the tremendous promise that various healthcare sciences have to offer for all."

"Through this collaboration we also hope to identify opportunities to improve the delivery of integrated, holistic primary healthcare services, including genetic screening services to improve the lives of individuals in the long run."

Datin Dr Maya, CEO of MAHSA Health, with her double expertise in health and wellness services, and education industry, said, "Passion is the greatest asset we each have. The main idea of MAHSA Health is to improve the quality of life in providing health care and wellness services to our community. We are a team-based healthcare that provides comprehensive medical care to patients with the goal of obtaining maximized health outcomes."

"Through this collaboration, we foresee opportunities and collaborative efforts in many areas, both in health care and education industry in providing an ecosystem of teaching, training, and producing services to the country nationwide."

The MoU is a framework through which MGRC Therapeutics and MAHSA Health can explore opportunities for health and wellness-related services; create opportunities for students' clinical placement, internship and employment; identify opportunities for conducting collaborative research and development (R&D); and create opportunities in training, seminars and conferences.

Malaysian Genomics Resource Centre Berhad: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/

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Hektar REIT Sustainability & CSR Initiatives Gets Awarded

KUALA LUMPUR, Aug 18, 2022 – (ACN Newswire) – Hektar Real Estate Investment Trust (Hektar REIT) has been awarded "Company of the Year" under the "Stakeholder and Community Sustainability Engagement Initiatives" category of the Sustainability & CSR Malaysia Awards 2022 held today at Mandarin Oriental Hotel Kuala Lumpur.

Second from Left: Secretary-General of the Ministry of Rural Development, YBhg Datuk Ramlan Harun and CEO of Hektar Asset Management Johari Shukri bin Jamil

Johari Shukri bin Jamil, CEO of Hektar Asset Management

This award follows the recent 4-star Environmental, Social and Governance (ESG) rating upgrade received by Hektar REIT as a constituent of the FTSE4Good Bursa Malaysia Index (F4GBMI) in the June 2022 evaluation by FTSE Russell.

The Sustainability & CSR Malaysia Awards 2022, which was officiated by the Minister of Rural Development, YB Dato' Seri Mahdzir bin Khalid, and represented by the Secretary-General of the Ministry of Rural Development, YBhg Datuk Ramlan Harun is organised by CSR Malaysia, a publication and social initiative under the auspices of the Malaysian Welfare Society for Corporate Sustainability & Responsibility, which is the national organisation for sustainability in the country. Several nominations were received for the various categories, with awardees judged by a distinguished panel of judges drawn from the media and the Malaysian Welfare Society for Corporate Sustainability & Responsibility.

Chief Executive Officer of Hektar Asset Management Sdn. Bhd. (Hektar Asset Management), En. Johari Shukri bin Jamil said, "We would like to express our utmost appreciation and thank the panel of judges for this award and recognition of our efforts and see this as an encouragement to continue improving ourselves. Hektar REIT's Asset Under Management consists of five established neighbourhood-focused malls and one regional shopping mall, which play key roles in serving the various stakeholders – i.e., the shoppers, tenants, employees and surrounding community within their respective geographical areas.

During the pandemic, our shopping malls complied stringently with the Government's directives to provide a safe retail environment for all by upholding strict safety and hygiene protocols. CSR initiatives are close to our heart and we aim to continuously engage with the community by undertaking various initiatives for the underprivileged or vulnerable groups such as those affected by the pandemic as we at Hektar understand & believe that all of us owe a responsibility towards the betterment of our society."

"Our recent ESG rating on the F4GBMI shows that Sustainability and CSR matters are very much grafted into our corporate culture. Our sustainability framework, which was first set up in 2017, continues to evolve in response not just to legislation but also to wider social and environmental concerns. We learned much, especially during the pandemic, on being resilient and sustainable while responding to the importance of reducing our environmental footprint and increasing our responsibility towards our stakeholders."

About Hektar Real Estate Investment Trust

Hektar Real Estate Investment Trust (Hektar REIT) is Malaysia's first listed retail-focused REIT. The primary objectives of Hektar REIT are to provide unitholders with sustainable dividend income and to achieve a long-term capital appreciation of the REIT. Hektar REIT was listed on the Main Market of Bursa Malaysia Securities Berhad on 4 December 2006 and currently owns 2 million square feet of retail space in 4 states with assets valued at RM1.16 billion as at 31 December 2021. The REIT's strategic partner is Frasers Centrepoint Trust, part of Frasers Property Ltd, headquartered in Singapore. Hektar REIT is managed by Hektar Asset Management Sdn Bhd and the property manager is Hektar Property Services Sdn Bhd. Hektar REIT's portfolio of commercial properties includes Subang Parade in Subang Jaya, Selangor; Mahkota Parade in Melaka; Wetex Parade & Classic Hotel in Muar, Johor; Central Square in Sungai Petani, Kedah; Kulim Central in Kulim, Kedah and Segamat Central in Segamat, Johor. For more information, please visit www.HektarREIT.com

For more information or inquiries, please contact:
Investor Communications
Tel: +603 6205 5570
Email: ir@HektarREIT.com

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