Singapore-Based Global Schools Group Announces Strategic Partnership With Emirates American School, Sharjah

SHARJAH, UAE, Nov 10, 2023 – (ACN Newswire) – Singapore-headquartered Global Schools Group (GSG), an initiative of Global Schools Foundation (GSF), has entered into a strategic partnership with Emirates American School (EAS), Sharjah; bringing together two stalwarts in education who have the common vision of providing locally and globally advanced 21st-century education to students.

GSG has witnessed remarkable growth in the UAE with 4 schools spanning across Abu Dhabi, Dubai and now Sharjah, offering a diverse educational landscape that aligns with the overarching vision of the country. In 2022, under the patronage of the Royal Commission for Riyadh City (RCRC), GSG opened its One World International School campus in Riyadh, where it offers a well-designed American/ IB curriculum.

EAS is a leading American K12 school which follows the Common Core State Standards, accredited by COGNIA (AdvancED) – a valuable mark of distinction which exemplifies excellence in education and outstanding service to their learners. Spread across 4,25,000 sq ft., EAS has student strength of close to 2000 with 125 teaching staff members.

“This partnership is a winning combination for students, parents and all stakeholders as it promises quality education to young people to prepare them for challenges of the 21st century,” said Mr Atul Temurnikar, GSG Chairman and Co-founder.

Students of GSG have the flexibility to choose a course of their choice, and admission to any of its schools. Its Knowledge Exchange Programmes, involving peer-to-peer interactions with sister schools, are most coveted by parents and students for its global reach.

Each year over 150 global universities engage with GSG students who are guided by specialised in-house career counsellors. GSG students have been accepted by Ivy League universities such as Harvard, Princeton and Yale, other leading universities such as Stanford, UC Berkeley.

The outgoing owner of Emirates American School, Shaikh Sultan Majid Hamad ALQasemi, stated that their main objective was to provide the best possible learning environment and opportunities for the students. “This dream was made possible through their partnership with Global Schools Group in Singapore, which has expanded the horizons for the students and given them the chance to spread their wings,” he said. “Global Schools’ presence in countries such as Singapore, Japan and Korea offers ample opportunities for cross-country collaborations that go beyond academics and help shape students as global citizens.”

About GSG

Global Schools Group has a network of 64 campuses across 11 countries, including Japan, South Korea, Singapore, United Kingdom and others, where 45,000 students from 70 nationalities study. GSG schools rank high in IB results, with over 100 students scoring World Topper and Near Perfect Scores in IB Diploma programme. Over 900 students have achieved A* and A in at least 7 or more subjects in the Cambridge IGCSE exams. GSG’s parent body GSF has been recognised by World Book of Records as the most awarded education foundation in the world.

Contact Information
Rupali Karekar
Divisional Manager
rupali.karekar@myglobalschool.org
+6598734320

Atlas Lithium Secures US$ 20,000,000 Investment from Lithium Investors Including Lead Advisor Martin Rowley

HIGHLIGHTS

Renowned mining professional Martin Rowley leads investment round of US$ 20,000,000 for Atlas Lithium.
Mr. Rowley is a pioneer of the modern lithium industry and has over 40 years of experience as a founder, financier, and highly successful mining entrepreneur.
Mr. Rowley has the rare distinction of founding and growing two prominent multi-billion-dollar companies, one in lithium (Allkem) and the other in copper (First Quantum Minerals).

Boca Raton, Florida–(ACN Newswire – November 8, 2023) – Atlas Lithium Corporation (NASDAQ: ATLX) (“Atlas Lithium” or “Company”), a leading lithium exploration and development company, is pleased to announce the signing of an agreement for a key strategic raise of $20,000,000 from lithium focused investors led by Martin Rowley, former Chairman of lithium powerhouse Allkem Ltd. and a Lead Advisor to Atlas Lithium. In 1996, Mr. Rowley co-founded First Quantum Minerals Ltd., one of the largest copper companies in the world. In 2009, he recognized the potential of lithium and became Chairman of Lithium One Inc., and later Chairman of Galaxy Resources Ltd. after it merged with Lithium One. Mr. Rowley led significant growth in Galaxy, ultimately resulting in the merger with Orocobre Ltd. in 2021 which created global lithium producer Allkem Ltd. He retired as Chairman of Allkem in November 2022.

Atlas Lithium was offered and has entered into an agreement that establishes a US$ 20,000,000 three-year unsecured convertible note led by Mr. Rowley along with other experienced lithium investors (the “Investment”). The Investment carries a coupon of 6.5% per annum, is convertible to common stock at a price of $28.225 per share (a 25% premium to the volume-weighted average price for the three trading days prior to the signing of the Investment agreement), and can be repaid by the Company after one year under certain circumstances. Details on the Investment can be found on the Form 8-K which the Company has filed with the Securities and Exchange Commission.

Marc Fogassa, Chairman and CEO of the Company, noted, “In the current environment where U.S. Treasuries yield close to 5%, the fact that Atlas Lithium was able to raise new capital at 6.5% is a strong outcome and an indication of investor interest. In addition, the conversion price is at a substantial 25% upside to the current stock price. However, the biggest benefit is to have the expertise of astute lithium investors, including Mr. Martin Rowley, aligned with our strategy.”

Martin Rowley commented, “Atlas Lithium has an excellent asset base and a dedicated and hard-working team complemented by a strong collaborative culture. With a highly supportive local community where it operates, this additional funding allows the Company to rapidly advance the development of its Neves Project in Brazil’s Lithium Valley. I am thrilled to deepen my involvement with Atlas Lithium and contribute my own resources to catalyze the company’s growth, helping to unlock the undoubted potential of its lithium assets.”

About Atlas Lithium Corporation

Atlas Lithium Corporation (NASDAQ: ATLX) is focused on advancing and developing its 100%-owned hard-rock lithium project in Brazil’s Lithium Valley, a well-known lithium district in the state of Minas Gerais. In addition, Atlas Lithium has 100% ownership of mineral rights for other battery and critical metals including nickel, rare earths, titanium, and graphite. The Company also owns equity stakes in Apollo Resources Corp. (private company; iron) and Jupiter Gold Corp. (OTCQB: JUPGF) (gold and quartzite).

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward looking statements are based upon the current plans, estimates and projections of Atlas Lithium and its subsidiaries and are subject to inherent risks and uncertainties which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: results from ongoing geotechnical analysis of projects; business conditions in Brazil; general economic conditions, geopolitical events, and regulatory changes; availability of capital; Atlas Lithium’s ability to maintain its competitive position; manipulative attempts by short sellers to drive down our stock price; and dependence on key management.

Additional risks related to the Company and its subsidiaries are more fully discussed in the section entitled “Risk Factors” in the Company’s Annual Report and in Form 10-Q filed with the SEC on October 20, 2023. Please also refer to the Company’s other filings with the SEC, all of which are available at www.sec.gov. In addition, any forward-looking statements represent the Company’s views only as of today and should not be relied upon as representing its views as of any subsequent date. The Company explicitly disclaims any obligation to update any forward-looking statements.

Investor Relations:

Michael Kim or Brooks Hamilton
MZ Group – MZ North America
+1 (949) 546-6326
ATLX@mzgroup.us
https://www.atlas-lithium.com/
@Atlas_Lithium

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186610

“Immutable Puppet – Workshop on the Preservation and Revitalization of Glove Puppetry” Successfully Held in Beijing

HONG KONG, Nov 8, 2023 – (ACN Newswire) – On November 4, 2023, the “Immutable Puppet – Preservation and Revitalization of Glove Puppetry” exhibition and cultural exchange workshop, organized by Beijing ProBono Foundation’s Next Wave Project Fund, took place in Beijing.

This event was conceived and initiated by Lin Cuiran, a student from Beijing No.8 High School Sino-American Program, and was graced by the presence of distinguished guests, including Lin Chengmeng, one of the sixth batch of municipal-level inheritors of intangible cultural heritage in Zhangzhou City, and Cai Wenwei, the founder of ShengYu Glove Puppetry.

Embracing Cultural Roots in the New Generation – The Finest Form of “Heritage”

At the outset of the event, Lin Cuiran warmly welcomed the attendees and guests, sharing her motivation for organizing the workshop. She aimed to share her hometown Quanzhou’s unique culture with a wider audience, enabling people to experience the allure of traditional culture and continue its legacy. Safeguarding and passing down intangible cultural heritage is a complex and time-consuming task, and a long-term task of fusion of tradition and modernity. Lin’s goal was to infuse traditional culture with fresh vigor and vitality through innovative dissemination and inheritance methods. By doing so, she aimed to raise public awareness of intangible cultural heritage preservation and delve deeper into the essence, originality, and inherent charm of glove puppetry. The event was designed to expand the influence and reach of glove puppetry.

Curator – Lin Cuiran, International Department of Beijing No. 8 Middle School

The event featured Cai Wenwei, or ShuDa, the founder of ShengYu Glove Puppetry, who explained the “Origins of Taiwanese Glove Puppetry” using Taiwanese puppets. Additionally, Lin Chengmeng, one of the sixth batch municipal-level inheritors of intangible cultural heritage in Zhangzhou City and a teacher at the Zhangzhou Glove Puppetry Heritage Protection Center, elucidated the “Process of Creating Puppet Heads in Zhangzhou Glove Puppetry” for the audience. Lin’s vivid presentation transported the audience to the world of Zhangzhou Glove Puppetry, a thousand miles away from Beijing, offering them a tangible experience of the intersection between traditional glove puppetry and contemporary reality and opening new horizons for the dissemination of intangible cultural heritage.

CAI Wenwei (second from left), Lin Cheng Meng (third from right), Fengyun She-Shan Shan (second from right)

“Expressing” Tradition through Cosplay – Embracing “Integration” in the Modern Era

While reinforcing the dissemination of information about intangible cultural heritage through traditional methods, Lin Cuiran actively explored the aesthetic appeal of such heritage. Leveraging advanced media science and technology, she sought to enhance its influence and dissemination effects, aiming to win the hearts of a broader audience.

To achieve this, she invited the leader of FengYunShe, a modern society deeply passionate about glove puppetry, to participate in the event. FengYunShe seamlessly blended second-dimensional culture cosplay with glove puppetry, bringing puppets to life through dynamic real-life portrayals. This approach infused the puppets with vitality, allowing the audience to intimately experience the distinct characteristics of glove puppetry characters. Intangible cultural heritage is steeped in tradition, while animation technology and visual effects epitomize modernity. The creative fusion of these elements resulted in a traditional yet contemporary expression, merging the traditional nostalgic ambiance with the visual impact of real-life 4D performances and fostering cultural exchange between old and new traditions.

Following hours of discussion and exchange, the audience gained profound insights into the intangible cultural heritage of glove puppetry while forging lasting friendships. As the curator, Lin Cuiran expressed her hope for more young individuals to join the endeavor of preserving and innovating intangible cultural heritage. With a dedicated approach to selection and innovation, they can collectively perpetuate China’s enduring classics, ensuring that the public comprehends, accepts, and cherishes glove puppetry as a valuable intangible cultural heritage.

“Immutable Puppet – Workshop on the Preservation and Revitalization of Glove Puppetry” Successfully Held in Beijing

HONG KONG, Nov 6, 2023 – (ACN Newswire) – On November 4, 2023, the “Immutable Puppet – Preservation and Revitalization of Glove Puppetry” exhibition and cultural exchange workshop, organized by Beijing ProBono Foundation’s Next Wave Project Fund, took place in Beijing.

Embracing Cultural Roots in the New Generation – The Finest Form of “Heritage”

“Expressing” Tradition through Cosplay – Embracing “Integration” in the Modern Era

Doubleview Gold Corp Sets New Records in Exploration at Hat Polymetallic Deposit

Vancouver, British Columbia–(ACN Newswire – November 7, 2023) – Doubleview Gold Corp. (TSXV: DBG) (OTCQB: DBLVF) (FSE: 1D4) (the “Company or “Doubleview”) is pleased to announce a remarkable achievement in 2023. With an impressive 10,170 meters drilled this year, the Company has not only surpassed records but also illuminated the extraordinary potential of the Hat Polymetallic deposit in the Golden Triangle of British Columbia. The drilling campaign is ongoing.

Doubleview’s mission has been clear:

1) Extend the Lisle Deposit: Pushing beyond the boundaries of 2022, the Company expanded the Lisle Deposit, primed to maximize mineral inventory for our 2024 maiden resource estimate.

2) Connect and Discover: Bridging the West Lisle Zone to the Main Lisle Zone revealed the Buck Zone Discovery, uncovering new layers of the Lisle Zone deposit.

3) Southern Expansion: Doubleview’s team stretched the Main Lisle Zone southward, expanding the deposit domain by approximately 250 meters.

4) Future Insights: Work was not limited to drilling; the geology model was further developed using advanced 3D IP geophysical models, setting the stage for exciting future exploration programs.

The 2023 drill holes have now extended the previous boundaries of the Lisle deposit, and have bolstered the mineral inventory and volume for the projected Q1 of 2024 maiden resource estimate.

Farshad Shirvani, President and CEO stated: “I sincerely appreciate our management team who supported us into accomplishment of several outstanding milestones, including but not limited to insightful advanced geological investigations, full archaeological studies, continuation of metallurgical work, and data compilation and organization in preparation for our mineral resource estimate. I also wish to express without reservation my appreciation of all of our employees and contractors that have contributed tirelessly throughout a long field season to the exploration of our exciting Hat deposit.”

The archeological work that included remarkable 553 shovel tests, was carried out by an independent contractor parallel with Doubleview’s exploration activities. The AIA (Archeological Impact Assessment) is expected to be received by the end of this calendar year.

Doubleview maintains a website at www.doubleview.ca.

Cautionary Note: Although a mineral resource estimation is currently being prepared by an independent engineering firm, no mineral resources have been estimated at the Hat Property and there is no assurance that further work will result in the Lisle Zone, or other zones if present, being classified as mineral resources.

About Doubleview Gold Corp

Doubleview Gold Corp., a mineral resource exploration and development company, is based in Vancouver, British Columbia, Canada, and is publicly traded on the TSX-Venture Exchange (TSXV: DBG) (OTCQB: DBLVF) (GER: A1W038) (FSE: 1D4). Doubleview identifies, acquires and finances precious and base metal exploration projects in North America, particularly in British Columbia. Doubleview increases shareholder value through acquisition and exploration of quality gold, copper and silver properties and the application of advanced state-of-the-art exploration methods. The Company’s portfolio of strategic properties provides diversification and mitigates investment risks.

On behalf of the Board of Directors,

Farshad Shirvani, President & Chief Executive Officer

For further information please contact:

Doubleview Gold Corp
Vancouver, BC Farshad Shirvani
President & CEO

T: (604) 678-9587
E: corporate@doubleview.ca

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Certain of the statements made and information contained herein may constitute “forward-looking information.” In particular references to the private placement and future work programs or expectations on the quality or results of such work programs are subject to risks associated with operations on the property, exploration activity generally, equipment limitations and availability, as well as other risks that we may not be currently aware of. Accordingly, readers are advised not to place undue reliance on forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186513

Hektar REIT Achieves Historic Success: ESG Performance Rewarded with Dual Gold Accolades at The Edge Malaysia ESG Awards 2023

KUALA LUMPUR, Nov 7, 2023 – (ACN Newswire) – Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (“Hektar REIT”), is pleased to announce that Hektar REIT is the proud recipient of two Gold Awards at The Edge Malaysia ESG Awards 2023 under the Equity Awards category. These awards were for the categories of Outstanding ESG and Dividend Return Award and Real Estate Investment Trust (REIT) Award.

Senior Manager, Business Strategy Muhammad Fahmi bin Rasni; Senior Manager, Finance, Mohamad Othman bin Mail; GM, Legal, Martin Chen Kuok Yeow; GM, Business Development & Strategy, Nor Sabrina binti Halim; ED & CEO, Johari Shukri bin Jamil; Senior GM, Finance, Lim Kek Siang; Assistant Manager, Investor Relations, ESG & Special Projects, Muhammad Bakhtiar Ul Haq; and Manager, Risk & Assurance, Aida binti Zainudin of Hektar REIT[L-R]

Hektar REIT was announced as one of this event’s biggest winners in the equities category. These awards serve as a testament to Hektar REIT’s steadfast dedication to maintaining the highest levels of excellence in Environmental, Social, and Governance (ESG) practices. The distinguished award ceremony took place during a grand gala dinner at the Hilton, Kuala Lumpur, on 6 November 2023 and was officiated by Minister of Natural Resources, Environment, and Climate Change Nik Nazmi Nik Ahmad.

The Edge Malaysia ESG Awards 2023, a prestigious accolade in the industry, is divided into two distinct categories: the Equity Awards and the Fund Awards. Its primary aim is to recognize and laud the exemplary performance of Malaysia’s leaders in ESG excellence.

Under the Equity category, The Edge Malaysia collaborates closely with Bursa Malaysia and FTSE Russell. The objective is to spotlight and celebrate the best-performing PLCs, with the evaluation process grounded on the robust methodology provided by FTSE Russell. The Fund category sees The Edge Malaysia partnering with Morningstar to identify and reward the top-performing asset management firms using the latter’s recognized method. These awards were aimed at promoting ESG adoption and leadership amongst industry leaders and professionals by recognizing their contributions and successes.

Hektar REIT qualified under the category of Equity Awards, whereby a company must be listed on Bursa Malaysia and be a constituent of the FTSE Bursa Malaysia EMAS Index as of June 2023. Another key criterion for eligibility was for the companies to be assessed by FTSE Russell in December 2022 and June 2023. The Outstanding ESG and Dividend Return was a new category introduced by The Edge and companies were evaluated based on their performance for the last five years.

Johari Shukri Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd. said, “We are filled with gratitude and enthusiasm for securing these two prestigious Gold Awards, a significant milestone in Hektar REIT’s exceptional journey. It is a resounding affirmation of our unwavering dedication to weaving ESG principles into every facet of our operations and strategic vision, reinforcing our commitment to sustainability and the creation of long-lasting stakeholder value. At Hektar REIT, we firmly believe that our steadfast embrace of robust ESG practices forms the basis upon which we construct sustainable value for our esteemed unitholders, devoted shoppers, and the communities we are privileged to serve.

The significance of these two gold awards cannot be overstated; they symbolize the historical milestone we have achieved and propel us further towards continuing our sustainability mission. As we move forward, we remain deeply committed to not only maintaining but surpassing the high standards that have earned us these accolades. We understand that this success comes with a weighty responsibility, and we embrace it with enthusiasm, passion, and the utmost dedication.

Our journey is far from over; it has only just begun. With these two gold awards as our guiding stars, we are determined to explore new horizons and demonstrate that adopting a sustainable approach is not merely an option but a definitive path towards a more promising future for everyone.”

Hektar REIT remains committed to integrating ESG into all aspects of the business, from financial management to operations and future planning. This dedication is a cornerstone of our mission to deliver robust and enduring value to our stakeholders, positioning us for a prosperous future.

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

Acrometa Group Signs MOU for Sand Concession, Opening New Business Opportunities in the Region

SINGAPORE, Nov 6, 2023 – (ACN Newswire) – ACROMETA Group Limited (“ACROMETA”, or the “Company” and together with its subsidiaries, the “Group”), today announced that the Company has signed a Memorandum of Understanding (“MOU”) to pursue new business opportunities in Indonesia.

A non-binding non-exclusive MOU was signed between ACROMETA and PT. Swadaya Buana Makmur (“PTSBM”) for the supply of high-grade silica sand from West Kalimantan, Indonesia.

Subject to relevant export approvals, a new subsidiary set-up for the proposed business will target to purchase and PTSBM will target to supply an annual offtake of up to 1,000,000 tonnes of Low Iron Silica Sand with a guaranteed quality of at least 99.5% SIO2 at prices and payment terms in line with market conditions. Both parties are set to enter into definitive Offtake/Purchase Agreements with a target for the Newco to commence its first trade by 15 January 2024.

Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman said, “The MOU with PTSBM is a synergistic opportunity given the Group’s deep expertise in specialist engineering services as we seek to broaden the Group’s revenue stream. ACROMETA will continue to capture new business opportunities to grow and create shareholder value for its investors.”

Trend for the demand for high-grade 99.5% purity silica sand is increasing and are used in the manufacture of precision glass instruments, ophthalmic lenses and LCD screens required by many industries such as the biotechnology, electronics, and pharmaceutical industries. In construction, it is the main structural component in several construction products such as flooring, mortars, cement, roofing shingles, and asphalt. The Group is currently speaking with potential international buyers before entering into formal offtake agreements with PTSBM.

[1] Market Prices fluctuate according to prevailing market conditions.

About ACROMETA Group Limited (SGX Stock Code:43F)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.

The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMETA’s business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates 6,500 square feet of co-working laboratory space at The German Centre in Singapore, serving SMEs and startups.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA’s customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.

The Company has been listed on the Catalist board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:
ACROMETA Group Limited
Ms. Cheah Lai Min
Chief Financial Officer
Tel: +65 6415 0574
Email: laimin.cheah@acrometa.com

Waterbrooks Consultants Pte Ltd
Mr. Wayne Koo
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg Email: query@waterbrooks.com.sg

This media release has been reviewed by the Company’s Sponsor, Evolve Capital Advisory Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange

Securities Trading Limited (the “Exchange”), and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com

Stella Wins Shareholders’ Nod in EGM for PTM Acquisition & Strategic Changes

KUALA LUMPUR, Nov 2, 2023 – (ACN Newswire) – Stella Holdings Berhad (“Stella” or the “Company”), an experienced player in the field of construction, property investment, and property development, is pleased to announce that all resolutions set forth at its Extraordinary General Meeting (EGM) have received endorsement from shareholders. Notably, a significant resolution encompassing the acquisition of Pembinaan Teguh Maju Sdn Bhd (“PTM”) was approved unanimously.

Datuk Benson Lau, Managing Director of Stella

The acquisition of PTM comes with considerable promise and far-reaching implications for Stella. Valued at a total purchase consideration of RM380.0 million, PTM will become a wholly-owned subsidiary of Stella. This acquisition is especially noteworthy given PTM’s RM1.16 billion worth of outstanding orders in areas such as roadworks, building construction, and mechanical and electrical projects. Furthermore, PTM has submitted quotations and is in discussions for contracts totalling approximately RM1.78 billion, amplifying the earnings potential over the next three financial years.

PTM also provides a profit guarantee of RM120.0 million for the financial years ending 30 June 2024, 2025, and 2026 on an aggregate basis to the Company.

The EGM also endorsed a significant private placement of up to 50.0 million shares, equating to around 74.63% of the current total number of issued Stella shares or 11.99% post-acquisition. This initiative aims to raise RM40.0 million for necessities like construction materials, labour costs, and subcontractors.

Complementing this acquisition, Stella Holdings Berhad will undergo a rebranding to become Varia Berhad, a change that encapsulates its wider vision and growth objectives.

After the conclusion of the EGM, Datuk Benson Lau, Managing Director of Stella, commented with enthusiasm: “Our unanimous decision to acquire PTM marks a pivotal moment for Stella. This new addition brings a vast RM1.16 billion worth of outstanding orders into our portfolio, thereby solidifying our growth prospects. PTM’s strengths in civil engineering, roadworks, and various infrastructure projects represent a perfect strategic alignment with our existing operations. We are also emboldened by our shareholders’ resolute support for our ambitious private placement and rebranding initiatives. Their unwavering confidence empowers us to aim higher and execute our strategic roadmap to fruition.”

As at 2 November 2023, 12:30 P.M., Stella Holdings Berhad’s share price is RM1.07 with a market capitalisation of RM71.7 million.

Stella Holdings Berhad: 5006 [BURSA: STELLA], https://stella-holdings.com.my/

Acrometa to Focus on Laboratory Construction and Co-Working Laboratory Space Business

SINGAPORE, Oct 31, 2023 – (ACN Newswire) – ACROMETA Group Limited (“ACROMETA”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, today announced that the Board of Directors of the Company’s indirect subsidiary, Neo Tiew Power Pte. Ltd. (“NTP”), had on 27 October 2023 initiated the process to place NTP under Creditors’ Voluntary Liquidation ( “CVL”). NTP is a wholly-owned subsidiary of Acropower Pte. Ltd., which the Company has an effective interest of 56% in.

NTP was incorporated in February 2020 to produce renewable energy by converting biomass poultry waste into green electricity by the process of pyrolysis. However, due to the Covid-19 pandemic and changes to regulations for the safe handling of potentially dangerous animal waste products, NTP has not been able to commence operations.

The Group had extended significant loans to NTP and has decided it cannot continue supporting NTP. The directors of NTP had on 27 October 2023 resolved to place NTP in Provisional Liquidation, pending its eventual liquidation. Insolvency Practitioners from Alternative Advisors Pte Ltd were appointed as Provisional Liquidators. This decision arises from the inability of NTP to continue its regular business operations by reason of their liabilities.

Mr Lim Say Chin, CEO of AcroMeta Group said, “Conversion of poultry waste to green electricity is a fundamentally promising business. However, the Covid-19 pandemic’s impact on construction as well as changes in regulations for the safe handling of animal waste products meant that the project would continue to require financial support and affect the Group’s allocation of resources.”

Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman, said, “The Board’s decision for the voluntary liquidation of NTP by Acropower reflects our current focus on expanding the laboratory construction and co-working laboratory space businesses, both of which are currently cash flow positive and show a promising future with an encouraging flow of business opportunities and projects in the last twelve months.”

In August 2023, the Group’s wholly-owned subsidiary Acromec Engineers Pte Ltd (“Acromec”) was awarded a S$19 million contract for the design and construction of a 1,500 sqm high containment biosafety level research laboratory. In October 2023, the Group’s 70% owned subsidiary company Life Science Incubator Pte Ltd (“Life Science Incubator” or “LSI”) entered into a Management Agreement (the “MA”) with HB Universal Pte Ltd, a subsidiary of Mainboard-listed Ho Bee Land Limited, to operate and manage a co-working laboratory space at Elementum, One-North, a building in the heart of Singapore’s biomedical industry district.

About ACROMETA Group Limited (SGX Stock Code:43F)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.

The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

The Company has been listed on the Catalist board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:

ACROMETA Group Limited, Ms. Cheah Lai Min, Chief Financial Officer, Tel: +65 6415 0574, Email: laimin.cheah@acrometa.com

Waterbrooks Consultants Pte Ltd, Mr. Wayne Koo, Tel: +65 6958 8008 / +65 9338 8166, Email: wayne.koo@waterbrooks.com.sg, Email: query@waterbrooks.com.sg

This media release has been reviewed by the Company’s Sponsor, Evolve Capital Advisory Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”), and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.

Bintai Kinden Announces RM3.5 Million Contract Win for Subsidiary Johnson Medical International

PETALING JAYA, Malaysia, Oct 30, 2023 – (ACN Newswire) – Bintai Kinden Corporation Berhad (“BKCB” or the “Company”; Bursa: BINTAI, 6998), a mechanical and electrical (“M&E”) engineering services specialist, is delighted to announce that Johnson Medical International Sdn. Bhd (“JMI”), a 50.5%-subsidiary of BKCB has secured from Blackfox Engineering Sdn. Bhd (“BFESB”) a RM 3.5 million contract which involves the Supply, Delivery, Installation, Testing, Commissioning, and Maintenance of a Pendant System for the 300-beds Hospital Petrajaya in Petra Jaya, Kuching, Sarawak.

Datuk Tay Chor Han, Managing Director cum CEO of BKCB, commented, “We are thrilled for JMI to collaborate with BFESB on this project as it speaks to JMI’s established reputation as a competitive local Pendant System Specialist supplier. Coupled with the Mechanical and Electrical expertise of the BKCB Group backing us to undertake even more complex and high-value projects, we are optimistic that JMI will continue to advance its high-quality services and products offerings.”

This latest contract win joins a line of successful projects that JMI was previously been involved in, such as Hospital Tanjong Karang, Hospital UTAR, Hospital Cyberjaya, and Hospital Putrajaya, among others. The 380-day contract not only fortifies the Company’s revenue stream but also highlights JMI’s proficiency in medical infrastructure solutions.

Boasting numerous patents and registered designs, Johnson Medical International remains a pacesetter in the realm of modular healthcare solutions. This contract will contribute positively to the Company’s financials for the years ending 31 March 2024 and 31 March 2025.

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