ACROMETA Acquires Controlling Stake in Co-Working Lab Space Company Life Science Incubator (LSI)

SINGAPORE, Feb 20, 2023 – (ACN Newswire) – ACROMETA Group Limited [SGX: 43F], an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, has entered into a legally binding letter of intent (LOI) to purchase an additional 40% of the outstanding shares of Life Sciences Incubator Pte Ltd (LSI) for a total consideration of S$1.6 million payable in tranches, based on realization of agreed milestones in its immediate expansion plan. Upon completion of the purchase, the Group will control 70% of LSI, up from the current 30%.

LSI currently operates a 6,500 sq feet co-working laboratory space at The German Centre in Singapore serving SMEs and start-ups. Launched in September 2021, LSI at German Centre garners very healthy occupancy rates within a year of operations. Fueled by strong demand, as more and more companies conduct R&D to bring innovative products into the market, LSI is looking to expand in Singapore as well as in the region.

The additional stake will add another dimension of growth to the Group's business as it becomes not only a builder of laboratories but also an operator of co-working laboratory space.

"This potentially carves out a new promising mainstream business for us as controlled environment specialist", says ACROMETA Executive Chairman, Mr Levin Lee Keng Weng. Levin Lee added, "I am glad that ACROMETA, through LSI, can play a vital role in supporting the R&D of startups and SMEs, where their innovation and new discoveries will make the world a better place for us to live in. Our co-working laboratory spaces will make it easier for their dreams to come true."

The co-working laboratory space business has strong growth potential locally as Singapore transforms its economy towards high-value sectors with more and more companies conducting research & development activities. Serving SMEs and start-ups and in particular those in the MedTech, Biotech, Biopharma, FoodTech, and Healthcare sectors, LSI provides flexible co-working laboratory spaces for their research and development.

With access to communal state-of-the-art specialized equipment, technologies and facilities as well as event and office spaces, this enables start-ups and SMEs to innovate and conduct their cutting-edge R&D without having to shoulder the prohibitive costs involved if they were to install such specialized infrastructure by themselves.

By collocating in The German Centre and working closely with them, LSI is also able to provide complementary office spaces and meeting rooms when needed, forming an ideal partnership of both co-working office and laboratory space. The German Centre is a worldwide network which supports businesses by providing offices with specialized co-working office space, advice and networking for startups and SMEs. It is renowned for its German DNA of efficiency and quality. Therefore, the Group is exploring further collaboration with The German Centre in the expansion plans of LSI.

"We have also strategized Australia as our first foray overseas for LSI and we are excited to be there, where we believe there is a sizeable market to capture for the co-working lab space business! We have found a suitable location and on grounds of confidentiality, we are in talks with a renowned global government-linked company who has in principle agreed, subject to a binding agreement, to be one of the anchor tenants for the proposed LSI Australia site," said Levin Lee.

LSI's co-working laboratory spaces business will provide the Group with another income stream that complements its controlled environments engineering business which is largely project based.

Chief Executive Officer Mr Lim Say Chin said, "Our wholly owned subsidiary Acromec Engineers, with its experience as builders of cutting- edge laboratories will continue to support LSI's expansion with its controlled environments engineering expertise in Singapore and the region."

This Media Release is to be read in conjunction with the announcement on SGXNet on 20 February 2023.

SGX Reference:
https://links.sgx.com/1.0.0/corporate-announcements/8K6I1R6WOZ24M4FK/ab8c8ef9ddf08cff61c306ff3ddc6f4ab713ea17cfdc85571c2c4058f9468862

About ACROMETA Group Limited [SGX: 43F] [BIC: ACRO:SP] [RIC: ACRO.SI]

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 two main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA counts amongst its customers, 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
Mr. Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574
Email: jerry.tan@acromec.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.

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

Kincentric Malaysia’s Best Employers demonstrate Organizational Agility and Commitment to Attract and Retain Talent

KUALA LUMPUR, Feb 17, 2023 – (ACN Newswire) – Kincentric, a Spencer Stuart Company, announces today their Best Employers for 2022. As part of its leading employer program, Kincentric measures and recognizes extraordinary employers who have demonstrated the keen ability to listen and address their employee's evolving needs to drive higher talent retention and performance. Key factors that differentiated these Best Employers especially included their marked willingness and agility to encourage diverse ideas and implement them with speed, to ultimately enhance employee experience.

According to Ridhima Khanduja, Market Leader for Kincentric Malaysia, the country's Best Employers for 2022 outperformed in four critical performance pillars that highlighted their strong purpose-driven culture and execution capability. This, in turn, has enabled them to be responsive and agile, maintain high levels of employee engagement, and foster a culture where employees stay and become brand advocates.

The Best Employers in Malaysia have excelled in four fundamental performance pillars, which included employee engagement (a 14-point increase to 83%), agility (a 12-point increase to 79%), engaging leadership (a 9-point increase to 77%), and talent focus (a 12-point increase to 77%), when compared to their average peers.

These outstanding performance indicators were evident in the following five (5) organizations, which were recognized as Kincentric Malaysia's Best Employers:

a) Lotuss Stores (Malaysia) Sdn Bhd
b) McDonald's Malaysia
c) PLUS Malaysia Berhad
d) Sunway Theme Parks; and
e) Tenaga Nasional Berhad

Ridhima said, "The business landscape and priorities have fundamentally shifted to become today's Brittle-Anxious-Non-Linear-Incomprehensible (BANI) world, creating a unique set of challenges for employers and markets alike. Organizations, including our Best Employer companies, are under pressure to meet employees' shifting expectations, and are going above and beyond to address these challenges head-on. Leading companies understand the need to adapt and redefine their talent strategy by building resilience, awareness and empathy, while leveraging on data to survive and thrive."

"Malaysia's employee engagement levels in H1 2022 have dipped below pre-COVID levels, from 70% in 2019 to 67%. Employee's intent to stay in the organization has also experienced a similar pattern, dropping five (5) points from 64% in 2019 to 59% in the same period. The lower scores indicate that many organizations are trying something new – testing, learning and refining – while others are holding back in the hope that things will go back to 'normal'. It is time to embrace change, and we are encouraged by the progress made by Malaysian employers," Ridhima added.

Sunway Theme Parks had also received recognition as the 'Best of the Best' for its outstanding demonstration of organizational agility and manager capability in support of employee wellbeing and development. Despite existing market challenges that impacted the theme park industry, the organization emphasized its commitment to its people through various strategic measures such as their 'Service Culture Program' and cross-departmental trainings, which deepened Sunway's corporate culture, and provided resilience and agility to respond to fluid business environments.

The 'Best of the Best' recognition was also awarded for Sunway Theme Parks' ability to engage with employees across levels and age groups in a consistent manner – a challenging feat that most organizations struggle with. The concerted efforts to engage its employees by creating a culture of recognition and in providing clarity and opportunities for career growth had allowed Sunway Theme Parks to develop a multigenerational employee experience, which meets the unique expectations of its millennial employees.

Calvin Ho, Executive Director of Sunway Theme Parks said, "At Sunway Theme Parks, we believe that it is the people that build the business. Only when our leaders reflect upon their strengths and weaknesses, then we are able to understand our colleagues and improve upon the dynamics of a team. By doing so, our leaders become more adaptable, are able to exercise empathy and can better impact our business. The sharpest of blades are often forged in the strongest of fires."

McDonald's Malaysia and Tenaga Nasional Berhad (TNB) were also awarded with Special Recognitions for their outstanding commitments to Building Purposeful Talent and Transforming Culture, respectively. Over the years, and especially in 2022, both organizations had demonstrated a steadfast dedication to developing and strengthening their internal structures to support talent development, offer meaningful career direction and pathways, and create a working environment which fostered growth and success.

"Congratulations to all the Kincentric Malaysia's Best Employers for their exceptional achievements in creating an engaging culture that prioritizes employees' voices, value, and performance. Their dedication to promoting this culture through courageous organizational changes is truly admirable," Ridhima concluded.

About Kincentric

Kincentric, a Spencer Stuart Company, helps organizations unlock the power of people and teams to ignite change and drive better business results. With decades of experience and specialist expertise in areas such as culture, employee engagement, leadership assessment and development, HR and talent advisory, and diversity, equity and inclusion, Kincentric uses data-driven insights to architect solutions that add value, enhance agility and increase organizational effectiveness. For more information, visit kincentric.com.

Image:
Chong Chye Neo, judge for Kincentric Malaysia's 2022 Best Employer program; Tuan Haji Wahizan bin Abd Rahman, Chief People Officer of Tenaga Nasional Berhad; Dato' Wahab Abu Bakar, judge for Kincentric Malaysia's 2022 Best Employer program, Melanie Lim, Senior Director – Restaurant Solutions Group, Training, Learning & Development of McDonald's Malaysia; Ridhima Khanduja, Market Leader for Kincentric Malaysia; Calvin Ho, Executive Director of Sunway Theme Parks; Datuk Zakaria Ahmad Zabidi, Chief Operating Officer of PLUS Malaysia Berhad; Puan Yasmin Mohd Ramzi, Head of People Strategy & Organizational Effectiveness, Tenaga Nasional Berhad; Alvin Low, Head of People of Lotuss Stores (Malaysia) Sdn Bhd; Dato' Hamidah Naziadin, judge for Kincentric Malaysia's 2022 Best Employer program. [L-R] ( https://acnnewswire.com/topimg/Low_Kincentric20230217.jpg )

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

Jewellery twin shows burnish Hong Kong image

HONG KONG, Feb 16, 2023 – (ACN Newswire) – The Hong Kong Special Administrative Region Government (HKSAR) has removed restrictions on travel between Hong Kong and Mainland China and lifted vaccination requirements for overseas visitors to the city. The moves will boost global trade between Hong Kong, Mainland China and the world at large. The Hong Kong Trade Development Council (HKTDC) has been actively promoting the territory's advantages through different channels and exhibitions. The 39th Hong Kong International Jewellery Show and 9th HKTDC Hong Kong International Diamond, Gem & Pearl Show, organised by the HKTDC, will be staged at the Hong Kong Convention and Exhibition Centre (HKCEC) from 1-5 March 2023, as a launch pad for a new round of trade fairs to help Hong Kong companies capture global business opportunities.

Sophia Chong (centre), HKTDC Deputy Executive Director, Lawrence Ma (L), Chairman, HKTDC Hong Kong International Jewellery Show and HKTDC Hong Kong International Diamond, Gem & Pearl Show Fair Organising Committee, and Winston Chow, Chairman, HKTDC Jewellery Advisory Committee, attended today's (16 February) press conference to introduce the twin jewellery shows.

Winners and guests at today's prize presentation ceremony for the 24th Hong Kong Jewellery Design Competition

Artist Tiffany Lau and other models present stunning jewellery pieces.

Sophia Chong, Deputy Executive Director of the HKTDC, said: "We are happy to see positive feedback from international and mainland business communities on the relaxation of the pandemic prevention policies in Hong Kong. We observed a gradual return of overseas and mainland participants in exhibitions and conference held in January. This year, the twin jewellery shows are attracting more than 2,300 exhibitors from 34 countries and regions, with half of them from overseas. The fairs will draw 100 buying missions with more than 10,000 non-local buyers from 70 countries and regions, showing significant increase in both non-local exhibitors and buyers compared to last year. We believe the exhibition industry and international trade will benefit directly from full relaxation of quarantine measures later this year."

The HKTDC will focus on two key aspects – markets and sectors – to promote Hong Kong as a business hub and help trade regain momentum. The HKTDC will focus on promoting Hong Kong as the preeminent two-way bridge between the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and Association of Southeast Asian Nations (ASEAN); between Asia and the world. Apart from GBA, Regional Comprehensive Economic Partnership (RCEP) countries, traditional and emerging markets remain our regional focus for promotion. Apart from facilitating trade and exports of various industry sectors, the HKTDC will also reinforce Hong Kong's leading role in innovation & technology, health & wellness and sustainability.

Hong Kong fine jewellery exports rally

After the pandemic brought a 20% decline in 2020, Hong Kong's fine jewellery exports benefited significantly from relaxed quarantine measures. The value of Hong Kong's fine jewellery exports last year rose 18% to HK$71.4 billion (US$9.1 billion), as compared to 2019. While there was a 40% growth in Hong Kong's jewellery sales to ASEAN markets, the exports to the United Arab Emirates, Italy, Australia and Taiwan also showed an encouraging increase.

Group pavilions include Mainland China, Japan, Korea and Germany

The twin shows will feature 20 group pavilions including those from Mainland China, Taiwan, Japan, Korea, Singapore, Sri Lanka, Thailand, India, Turkiye, Israel, Germany, Italy, Belgium, Brazil, Colombia, the United States and others. A number of jewellery associations will return to the fairs and show support, such as the Asia Pacific Creator Association, International Coloured Gems Association, Tanzanite Foundation, and the Hong Kong Jewellery & Jade Manufacturers Association which organises T-GOLD+METS pavilion with Italian Exhibition Group and many more. The overwhelming response proves Hong Kong is an attractive platform for international companies.

Highlighted zones present exquisite jewellery

The Hong Kong International Jewellery Show will feature 17 zones. Amongst all, the Hall of Fame will gather 18 jewellery brands, including Hong Kong's ASIAN STAR, Spain's CARRERA Y CARRERA, Italy's Oriental Jewels and Thailand's Key Gems; Hall of Extraordinary will showcase masterpieces from about 60 exhibitors, such as Dehres, United Jewelry, On Tung Company, and Continental Diamond from Hong Kong, Switzerland's Thomas Faerber SA, DIACRAFT Inc from the US, Germany's Heinz Mayer, and Italy's Crivelli s.r.l.; Designer Galleria will feature precious pieces from 25 jewellery designers from across the world. Participating designer brands include Green G, Starlite Jewellery and CULTURED from Hong Kong, Korea's Gina Fine Jewelry Creator, Taiwan's Dian-Ta Design Studio and more.

The Hong Kong International Diamond, Gem & Pearl Show consists of three product zones, including Hall of Fine Diamond, Treasures of Nature and Treasures of Ocean showcasing premium quality diamonds, gemstones and pearls.

Over 20 inspiring events help businesses stay up-to-date

The twin jewellery shows will organise over 20 seminars and events covering various topics such as Bling Up Your Business with Blockchain & NFT, Hong Kong Jewellery Industry Shines over the World, THE JEWELLERY TRENDBOOK 2024+ 'From Consumer Culture to New Market Opportunities', Jewellery Enamelling: The Techniques, Introduction of 'Dealers in Precious Metals and Stones' Registration Regime, Ammolite – A 71 Million-Year Natural Treasure only from Alberta, Canada, Achieving SDG of Jewellery Testing and Certification Industry through Innovative Integration of Industry, Education, Research and Application. These seminars and events will allow industry players to stay up-to-date and explore further business opportunities. There will also be various networking events and jewellery parades during the shows. In addition, the winning pieces of the 24th Hong Kong Jewellery Design Competition will be displayed during the fair period.

The shows will run under the EXHIBITION+ physical-online hybrid model, which includes HKTDC-organised physical fairs, the smart business-matching platform Click2Match, online-to-offline seminars under the Intelligence Hub and the hktdc.com sourcing platform. This extends face-to-face interactions from physical exhibitions to an online, smart business-matching platform to help enterprises proactively connect with business partners. The Click2Match platform for the two fairs will be accessible from 1-12 March 2023, letting exhibitors and buyers continue conducting business discussions online after the physical shows.

Websites:
– Hong Kong International Jewellery Show: https://www.hktdc.com/event/hkjewellery/en
– Hong Kong International Diamond, Gem & Pearl Show: https://www.hktdc.com/event/hkdgp/en
– Interesting Products: https://bit.ly/3K8Xwgt
– Activity List: https://www.hktdc.com/event/hkjewellery/en/intelligence-hub
– HKTDC Media Room: https://mediaroom.hktdc.com/en
– Photo download: https://bit.ly/3lHyKtw

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
Please contact the HKTDC's Communications & Public Affairs Department:
Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Frankie Leung, Tel: +852 2584 4298, Email: frankie.cy.leung@hktdc.org

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

Aneka Jaringan Shareholders Approve All Resolutions at 4th AGM

KUALA LUMPUR, Feb 16, 2023 – (ACN Newswire) – Aneka Jaringan Holdings Berhad (Bursa: ANEKA, 0226), a basement and foundation construction specialist, announced that shareholders have approved all resolutions at the 4th Annual General Meeting (AGM) of Aneka Jaringan held today on a virtual platform.

Managing Director of Aneka Jaringan, Pang Tse Fui

Shareholders received the audited financial statements for the Financial Year Ended 31 August 2022 together with the reports of the directors and auditors contained therein. Shareholder passed resolutions to re-elect Dato' Noraini binti Abdul Rahman and Wee Kee Hong to the Board of Directors and approved the payment of directors' fees and benefits of up to RM220,000 from 17 February 2023 until the conclusion of the next AGM.

Other resolutions passed included the re-appointment of Baker Tilly Monteiro Heng PLT as the Group's auditor, as well as authorising the Board of Directors to fix its remuneration. Shareholders also approved the authority for the Board of Directors to issue shares and approved the proposed new mandate for recurrent related party transactions of a revenue or trading nature.

Managing Director of Aneka Jaringan, Pang Tse Fui said, "We would like to thank shareholders for their continued support and confidence in us as the Group continues to secure new contracts in Malaysia while expanding in Indonesia. We have secured RM59.8 million in contracts in Financial Year Ended 2023 and have increased capacity in Indonesia as we seek to leverage on the country's infrastructure needs that include its new capital of Nusantara."

"The Group is cognisant of the risks and challenges that continue to affect the construction sector. Energy, labour and raw material prices remain areas of concern and the Group has taken steps to mitigate these risks such as replacing outsourced workers with newly recruited foreign workers as we have been granted a government quota of 150 workers."

Aneka Jaringan has an order book of RM145.73 million as of 31 October 2022, with Malaysian operations contributing RM138.97 million and Indonesian operations contributing RM6.76 million.

As of 31 October 2022, the Group's tender book stood at RM969.45 million, with tenders in Malaysia valued at RM873.85 million and tenders in Indonesia valued at RM95.60 million.

Aneka Jaringan Holdings Berhad: 226 [BURSA: ANEKA], http://www.anekajaringan.com/

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

SCIB Terminates Indonesian Project

KUCHING, MALAYSIA, Feb 14, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company's wholly-owned subsidiary, SCIB International (Labuan) Ltd. (SCIBILL), has issued a notice of termination to PT Cipta Multi Sarana (PTCMS) for the proposed engineering, procurement, construction and commissioning (EPCC) project involving earthworks for the Prabumulih-Muara Enim tolled road located in Sumatera, Indonesia valued at RM55.59 million.

Group MD and CEO of SCIB, Encik Rosland bin Othman

SCIBILL, which accepted a letter of award for the EPCC project on 18 August 2020 from PTCMS, has decided to take the necessary measures to protect its interests following the lack of progress in the project arising from uncertainties related to the COVID-19 pandemic and in view of the initiatives being taken to review and update SCIB's order book records.

SCIBILL and PTCMS have mutually agreed to terminate the contract and unconditionally release and indefinitely discharge both parties from all claims, liens and obligations of every nature arising out of or in connection with the performance of the works and all amendments thereto, provided that the parties' obligations under a settlement agreement are fulfilled.

Group Managing Director of SCIB, Encik Rosland bin Othman said, "The termination is in the best interests of the Company as there has been no progress on the project. On the part of PTCMS, it has acknowledged that there are no penalties or liquidated ascertained damages on SCIBILL."

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

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

XOX Strengthens Presence in Local Football Scene with KLCFC Partnership

KUALA LUMPUR, Feb 10, 2023 – (ACN Newswire) – XOX Berhad (XOX), via its sports marketing arm, XOX Pro Sport Sdn. Bhd., and the Kuala Lumpur City Football Club (KLCFC) have kick-started a partnership to offer XOX's comprehensive range of product and service to the public. The companies in XOX's ecosystem range from technology offerings to financial products, events management and even apparels.

Mr Winson Wong, Chief Operating Officer XOX; Mr. Ng Kok Heng, Group CEO XOX; Mr. Stanley Bernard, CEO of Kuala Lumpur City FC; Mr. Noor Azri bin Noor Azerai, Director of Rinani Group Berhad [L-R]

Mr. Tan Tai Liang, Chief Sales Officer; Ms. Sylvia Kong Choo Hui, Group Chief Financial Officer XOX; Mr. Yakub Hussaini, General Manager Kuala Lumpur City FC; Mr. Winson Wong, Chief Operating Officer XOX; Mr. Ng Kok Heng, Group CEO XOX, Mr. Stanley Bernard, Chief Executive Officer Kuala Lumpur, Mr. Noor Azri Bin Noor Azerai, Director of Rinani Group Berhad [L-R]

The initial collaborative products to be rolled out are multiple co-branded mobile plans by another of XOX's subsidiary, ONEXOX Sdn Bhd, which are targeted at KLCFC's avid supporters. Fans of the football club who subscribe to the XOX mobile service will have the opportunity to receive exclusive news, content, multimedia updates, and promotions, among other exciting offers, which will be available in stages.

Mr. Stanley Bernard, Chief Executive Officer of KLCFC, said, "The club is undergoing a makeover and is currently prioritising its commercial side. With a growing fanbase of over 200,000 individuals garnered over the years, the club plans to leverage on this advantage to ensure its business sustainability in the long run."

"XOX will open its suite of products and services for KLCFC to collaborate and partner with, including but not exclusive to, continuous social media content, automated vending machines, merchandising, royalty programmes and fintech services," said Mr. Ng Kok Heng, Group Chief Executive Officer of XOX.

"Being affiliated with Perak FC, and now KLCFC, XOX has expanded its reach into an urban fanbase with 100 percent fans' growth, as well as corporate entities who are also involved with the sport," he added.

Through XOX's wholly owned subsidiary, Perak FC, a similar commercial model is underway, with some degree of success, as it replicates the company's initial strategy.

In the competitive world of telecommunications, quality content is key to marketing and customer retention. XOX has supported Malaysian sports throughout the years and will now focus on developing content and exposure for grassroot football.

XOX Berhad: 0165 [BURSA: XOX], https://xox.com.my/

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

Bintai Kinden Wins RM14.2 Million Project from TNB

PETALING JAYA, Malaysia, Feb 10, 2023 – (ACN Newswire) – Bintai Kinden Corporation Bhd (Bursa: BINTAI, 6998), a mechanical and electrical (M&E) engineering services specialist, is pleased to announce that the Company's wholly-owned subsidiary, Kejuruteraan Bintai Kindenko Sdn Bhd (KBK), has been awarded a project worth RM14.2 million by Tenaga Nasional Berhad (TNB) for the installation of two 132kV transformer bays air insulated switchgear complete with the relevant primary, secondary, cables and all associated civil works located in Pasir Besar, Negeri Sembilan.

Executive Director of Bintai Kinden, En. Azri Azerai

The project's scope of work also includes a 33kV building, two 300kVA 33/0.415kV local transformers, 33kV GIS single busbar (eight outgoing, two incomer, two local transformers and two bus-ties), 33kV CRP, 33kV RTU, 33kV SIP and 33kV MPE, neutral earthing system, earthing system extension, lightning protection system, associated secondary works (protection & telecontrol) and, associated underground cable works for power transformer, local transformer and bus-tie.

KBK, a specialist in M&E engineering services, was also awarded a project worth RM39.0 million by TNB for the installation of a 132kV underground cable double circuit in late November 2022.

Azri Azerai, Executive Director of Bintai Kinden said, "We are happy to work with TNB as both parties have a working relationship and track record going back some years. The award of the contract is also testament to our expertise and experience in M&E engineering services including design, installation and commissioning.

"Bintai Kinden has in recent years been growing our range of expertise through investments and acquisitions that leverage on our strengths and market network. The Company has mid-to-long-term plans to transform to a multidisciplinary M&E engineering services specialist that also include strategic partnerships like the one we recently inked with Sarawak Consolidated Industries Berhad."

Past TNB projects in which Bintai Kinden has been involved in include the 132kV Kuchai Lama switching station, 132kV MRT Bukit Serdang switching station, 132kV single-circuit underground cable from PMU Galloway to PMU KLCC2 and, 132kV bulk supply connection to KTMB Sentul feeder station. Total unbilled order book under M&E segment of Bintai Kinden is RM143.41 million.

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

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

Hong Kong’s Middle East mission lays groundwork for new business opportunities

HONG KONG, Feb 10, 2023 – (ACN Newswire) – Since the recent reopening of the Hong Kong-mainland border, the Hong Kong Trade Development Council (HKTDC) embarked on a week-long business mission to the Middle East, led by Mr John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR).

The Hong Kong business delegation signed 13 MoUs during this trip. In this photo, HKTDC and Abu Dhabi Chamber of Commerce and Industry signed an MoUs at the Abu Dhabi-Hong Kong Business Forum on 7 February.

The Hong Kong delegation engaged with senior representatives of government, local Chambers of Commerce and key corporations via business meetings and seminars. In this photo, they are on a company visit to SABIC, the leading petrochemicals manufacturer in the Middle East.

Led by Mr John Lee, HKSAR Chief Executive, the delegation visited various companies in Saudi Arabia and the UAE to learn about the latest developments. Here, the group visit THE LINE Experience exhibition (NEOM) showcasing innovative urban designs of the futuristic city NEOM.

Mr Lee was accompanied by principal officials Mr Horace Cheung, Deputy Secretary of Justice; Mr Christopher Hui, Secretary for Financial Services and Treasury; and Mr Algernon Yau, Secretary for Commerce and Economic Development.

The signing of 13 Memoranda of Understanding (MoU) during the mission signals new collaboration opportunities between Hong Kong and Middle East companies and organisations in business, finance, innovation and technology, sustainability and transport.

Over 30 business leaders from finance, logistics, technology and professional services joined the mission to Riyadh, Abu Dhabi and Dubai.

By showcasing Hong Kong's strengths through business and official exchanges and proactive publicity, the mission deepened economic and trade relations and enhanced cultural exchange between Hong Kong and Saudi Arabia and the United Arab Emirates (UAE), helping Hong Kong attract investment and talent. It also solidified Hong Kong's role as the global gateway to Mainland China and a leading business and investment hub in Asia.

The Hong Kong delegation met with senior representatives of government, local Chambers of Commerce, including the Saudi Chinese Business Council, Abu Dhabi Chamber of Commerce & Industry, Invest in Sharjah and Dubai Chambers, the last of which also announced the establishment of a Hong Kong office yesterday.

HKTDC Chairman Dr Peter K N Lam said, "The Middle East has an important role to play in driving the global economy and has important strategic significance in supporting the development of the Belt and Road. As Hong Kong reopens to the world, we have lost no time in organising this Hong Kong business delegation to the Middle East, led by the Chief Executive and three principal officials. Apart from presenting Hong Kong's latest incentives and policies to attract investment and talent, we also introduced new opportunities arising from the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and encouraged UAE and Saudi companies to take advantage of Hong Kong's investment and business platforms."

Dr Lam added, "From our meetings and visits, we saw that Saudi Arabia and the UAE welcome deeper and broader ties with Hong Kong to support their strategic development. I am delighted that many MoUs have been signed across many sectors. These will lay a solid foundation for future long-term cooperation. With our 50 offices around the world, the HKTDC will continue to help businesses open doors and to promote Hong Kong as a global business hub."

Apart from over 30 international trade fairs and conferences in Hong Kong, the HKTDC organises large-scale overseas mega promotions, such as Think Business, Think Hong Kong, which will be held in Thailand in July to promote the Hong Kong brand together with the Hong Kong family of organisations.

The MoUs signed during this mission include:

1. Hong Kong Exchanges and Clearing Limited (HKEX) and Saudi Tadawul Group Holding Company
2. SenseTime and King Abdullah Financial District (KAFD) (Letter of Intent)
3. Hong Kong General Chamber of Commerce (HKGCC) and Riyadh Chamber
4. Templewater Ltd, Bravo Transport Services Ltd and Wisdom Motors (Hong Kong) Ltd and Nesma Holding Ltd
5. SenseTime and Sela Company (Letter of Intent)
6. Hutchison and King Salman Energy Park (SPARK)
7. HKTDC and Dubai Chamber
8. Ho & Partners Architects, Negawatt, Masdar City, and The Catalyst
9. HKSTP and Sharjah Research Technology & Innovation Park
10. Hong Kong Cyberport and Dubai Future Foundation
11. HKTDC and Invest in Sharjah
12. HKTDC and Abu Dhabi Chamber of Commerce & Industry
13. Federation of Hong Kong Industries (FHKI) and Abu Dhabi Chamber of Commerce & Industry

Photo Download: https://bit.ly/3DY0O2i

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
Please contact the HKTDC's Communications and Public Affairs Department:
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org

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

Former Singapore Parliamentarian’s Swiss Digital Assets Company Receives Regulatory Approval

Calvin Cheng’s Damoon Technologies has obtained membership status from the Swiss Financial Services Standard Association (‘VQF’), which is officially recognised by the Federal Financial Market Supervisory Authority (‘FINMA’)
This comes on the back of Cheng’s Web3 Company obtaining the Virtual Asset License from the Dubai Virtual Asset Regulatory Authority (VARA)
Damoon will offer crypto-fiat-crypto payment services, as well as a digital assets custodian

ZURICH, SWITZERLAND, Feb 10, 2023 – (ACN Newswire) – Singapore investor and former parliamentarian Calvin Cheng’s Swiss company, Damoon Technologies (‘Damoon’) has been granted membership in the Swiss VQF, joining the ranks of some of the world’s leading digital assets businesses.

The latest development officially opens the door for Damoon to establish a presence in Switzerland. Thedigital assets company is building a platform for users to engage in crypto- to-fiat payments and vice versa, as well as a digital assets custody service.

VQF is the largest and oldest cross-industry Self-Regulatory Organisation (SRO) in the country and is officially recognised by FINMA, Switzerland’s financial services watchdog.

Damoon must now comply with Swiss anti-money laundering (AML) regulations. Thanks to this, the company is in a unique position to work with demanding clients and offer them a place that provides efficiency, security and regulatory clarity.

Calvin Cheng commented, “I believe in the future of digital assets, but this has to be done in accordance with traditional finance’s compliance standards. Switzerland is the pre- eminent global financial hub, and is the ideal place to base crypto-fiat-crypto financial services, as well as a trusted custodian.”

Recently, Damoon has also joined the Crypto Valley Association in Zug. “Crypto Valley Association are excited to welcome Damoon Technology and Mr. Calvin Cheng as members,” said a spokesperson for the organization.

Currently, Damoon is in the process of building its compliance and operational team in Zurich and Zug, Switzerland. The company expects to start operations by the end of Q2 2023.

Earlier in 2022, Cheng’s Web3 Holdings FZE was awarded the coveted provisional Virtual Asset License by VARA in Dubai, United Arab Emirates. The license granted similarly promotes greater customer assurance and risk protection.

About Calvin Cheng

Calvin Cheng is currently the Chairman of Australia Stock Exchange (ASX) listed EdTech firm ReTechTechnology Co, which he led to an Initial Public Offering, together with leading investors from China.ReTech’s shareholders include several co-founders of Alibaba, as well as founders of other leading Chinese tech companies.

Cheng was a former appointed Member of Singapore’s Parliament and a Young Global Leader of the World Economic Forum. He is also the Republic of Serbia’s first Honorary Consul to the Republic of Singapore.

For media inquiries and interview requests, please contact:
Tang Hong Ee (Financial PR) (T) 6438-2990
(E) hongee@financialpr.com.sg

Hong Kong and UAE explore collaboration opportunities

DUBAI, Feb 9, 2023 – (ACN Newswire) – A delegation of business leaders from the Hong Kong Special Administrative Region (HKSAR), led by the city's Chief Executive and principal officials and organised by the Hong Kong Trade Development Council (HKTDC), is in the United Arab Emirates (UAE) this week to strengthen existing business ties and develop new areas of collaboration in technology, sustainability and smart city development, in addition to traditional sectors of finance and trade.

A Memorandum of Understanding (MoU) has been signed between HKTDC and Dubai Chambers.

Panel speakers discussed the opportunities for deeper UAE-Hong Kong collaboration at the business forum before a dinner for the Dubai and Hong Kong business communities.

With Hong Kong's unrivalled access to China and Asia and the UAE's role as a gateway to the Gulf Cooperation Council (GCC) and European markets, the relationship between the two commercial centres is already providing important benefits to a range of businesses.

The arrival of the high-level business delegation, which comprises senior executives from Hong Kong's financial institutions, financial regulators as well as major players in innovation and technology (I&T), sustainability and smart city solutions, will help accelerate the commercial ties between the HKSAR and the Emirates, and support the strategic development of the UAE, Hong Kong and mainland China.

The important strategic relationships, which exist between China and the UAE, are based on a shared backing for liberal trade policies, investment in cutting-edge technology, low tax regimes and backing for pro-business regulation.

A press conference was held on 8 February in Dubai, followed by a business forum and dinner in the presence of H.E. Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, H.E. Mr Abdul-Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers and H.E. Sultan Bin Sulayem, Chairman of Dubai International Chambers.

Hong Kong's Chief Executive Mr John Lee said: "The UAE is Hong Kong's largest trading partner in the Middle East region. We treasure this long-standing relationship, and I believe that we can now take it to a higher level. That's why I'm here, together with these business leaders from Hong Kong – some 30 strong – to tell you that our business and investment doors are wide open and welcoming for UAE companies and investors. For a world of opportunities."

"The commercial and political ties between Hong Kong and the UAE are growing ever stronger. It is clear we both approach business in the same way, backing innovation, investing in technology and looking for sustainable solutions. This business mission to the UAE shows the depth of existing commercial relationships and the potential to do a lot more."

In response, H.E. Dr Thani bin Ahmed Al-Zeyoudi stressed the strength and durability of the strategic relations between the United Arab Emirates and the People's Republic of China, which are witnessing continuous development, especially in the areas of economics and trade. The forward-looking and visionary leadership of the two countries is building a strong partnership, opening up new opportunities and broadening bilateral economic cooperation.

His Excellency added: "Strengthening investment and trade partnerships with Hong Kong supports the strategic cooperation between the UAE and China and contributes to opening new business fields, stimulating communication between the Emirati-Chinese business communities, especially in light of new economic opportunities".

His Excellency continued: "The value of foreign trade between the UAE and Hong Kong amounted to about AED32 billion (US$8.7 billion) during the first 9 months of 2022, achieving a growth of 36% compared to the same period in 2021, while Hong Kong was among the top 10 trading partners for the UAE during 2021, with a contribution of more than 2% of the UAE's total non-oil trade."

His Excellency indicated that the forum represents an important step in supporting increased trade and enhancing prospects for bilateral cooperation in a wide range of sectors, especially shipping, logistics, the service sector and air transport. It maximises benefits for Emirati companies and their counterparts in Hong Kong.

HKTDC Chairman Dr Peter K N Lam mentioned in his opening remarks that "Dubai and Hong Kong are natural partners, when it comes to creating business opportunities. The signing of three MoUs* at our event tonight shows the tremendous potential for deeper collaboration. Creating business opportunities has been the work of the Hong Kong Trade Development Council for over 55 years, and I am pleased to be part of these exciting times."

Representing the business community in Dubai, H.E. Abdul-Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, commented: "I am proud to say that the UAE is the largest trading partner for Hong Kong in the Middle East. Non-oil trade between the UAE and Hong Kong reached AED22.2 billion in the first half of 2022, registering 16.2% growth compared to the first half of 2021. With the presence of our new international office in Hong Kong, I look forward to seeing continued collaboration with our Hong Kong counterparts and seeing the relationship between our countries thrive and prosper even more."

In the trade delegation, Chief Executive Mr Lee is joined by three principal officials: Deputy Secretary of Justice Mr Horace Cheung, Secretary for Financial Services and Treasury Mr Christopher Hui and Secretary for Commerce and Economic Development Mr Algernon Yau.

Other business leaders from Hong Kong and the Emirates also exchanged views at a panel discussion yesterday. Chaired by Mr Yau, panel speakers included Mr Nicolas Aguzin, Chief Executive Officer of Hong Kong Exchanges and Clearing Ltd, Dr Sunny Chai, Chairman of the Federation of Hong Kong Industries and Chairman of the Hong Kong Science & Technology Parks Corporation (HKSTP), Mr Horace Cheung, and H.E. Hussain Al Mahmoudi, Chief Executive Officer of Sharjah Research Technology & Innovation Park (SRTIP) and H.E. Faisal Juma Khalfan Belhoul, Vice Chairman of Dubai International Chamber.

* 3 MOUs have been signed between:
– HKTDC and Dubai Chamber
– Ho & Partners Architects, Negawatt, Masdar City, and The Catalyst
– HKSTP and Sharjah Research Technology & Innovation Park

Hong Kong: Ready for business

As a two-way platform between China and the world and as one of the world's top financial centres, Hong Kong has been supporting businesses and investors worldwide to tap into the vast China and Asia market as well as playing a major role in the global financial system with special connectivity to the China market.

As part of China, but operating under an international system, Hong Kong provides special access to and from the mainland in the flow of capital, goods, technology and people, as defined in the country's national 14th Five-Year Plan. Hong Kong is also a commercial hub for the Belt and Road Initiative, a global development plan initiated by China, and part of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) – an area in Southern China earmarked by the Chinese government as a powerhouse of capital, I&T and cultural exchange driving the country's development.

With the city's common law system, low tax regime, advanced infrastructure and connectivity and a long history as an international trade and business hub, Hong Kong is well-placed to support businesses from all over the world to invest and grow.

Recently, the HKSAR Chief Executive announced in his Policy Address 2022 the wide array of incentives and measures to attract international strategic enterprises and investments to Hong Kong, particularly in areas such as life sciences, health technology, artificial intelligence and data science, financial technology, advanced manufacturing and new energy technology.

Find out more about Hong Kong:

– Hong Kong: general facts https://tinyurl.com/Asias-world-city
– Hong Kong as a global financial centre https://tinyurl.com/Financial-Centre
– Hong Kong's tech and innovation https://tinyurl.com/Tech-Innovation
– Hong Kong as the commercial hub for the Belt and Road Initiative https://tinyurl.com/Belt-and-Road
– Hong Kong as part of the Guangdong-Hong Kong-Macao Greater Bay Area https://tinyurl.com/Greater-Bay-Area
– Photo Download: https://bit.ly/40LxYMu

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
Credo Communications:
Habib Bacha, Tel: +971 (50) 111 3799, Email: habib.bacha@credocomms.com

HKTDC:
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org

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