Leon Fuat Berhad Posts 35.8% Increase in Q2 Revenue to RM250.93 Million

SHAH ALAM, Malaysia, Aug 29, 2022 – (ACN Newswire) – Leon Fuat Berhad, a manufacturer and trader of steel products specialising in rolled long and flat steel, today reported a 35.8% increase in revenue to RM250.93 million for the second quarter ended 30 June 2022 (Q2FY2022) compared with RM184.78 million recorded in the corresponding quarter of the preceding financial year (Q2FY2021).

Calvin Ooi Shang How, Executive Director of Leon Fuat

The Group recorded profit before tax (PBT) of RM18.04 million for Q2FY2022, a 57.6% decrease from RM42.57 million registered in Q2FY2021 while recording profit after tax (PAT) of RM14.02 million, which is a 56.3% decrease from RM32.12 million reported in the corresponding quarter of the preceding financial year.

For the quarter under review, the trading segment contributed 38.4% to revenue while the processing segment contributed 61.5%.

For the six months ended 30 June 2022 (1H 2022), Leon Fuat registered a 32.2% increase in revenue to RM523.95 million compared with RM396.26 million recorded in the six months ended 30 June 2021 (1H 2021). For the period under review, the Company reported PBT of RM49.85 million, a 41.4% decrease from RM85.10 million recorded in 1H 2021 while for 1H 2022, PAT decreased 44.4% to RM37.91 million compared with RM68.23 million recorded in 1H 2021.

Calvin Ooi Shang How, Executive Director of Leon Fuat said, "We saw higher overall revenue on the increased contributions from the trading and processing of steel products, but a combination of lower overall gross profit margin and inventories written down of RM13.88 million in the current quarter as certain inventories were measured at its estimated net realisable value weighed on PBT."

"The outlook for the global economy remains volatile on a combination of China's slowdown, the Russia-Ukraine war and tighter monetary policy in response to inflation. While the domestic economy has so far weathered the challenges on a combination of resilient exports and private consumption, uncertainties remain because of the potential risks from supply-chain disruptions and rising commodity prices leading to inflationary pressure."

"We are more neutral as to the prospects for the remaining quarters of the year given these challenges especially with the softening of steel prices and the weaker ringgit. We have increased monitoring of steel prices and related currencies and continue to take proactive measures including negotiating forward contracts, where necessary, as well as prudent inventory management, to reduce any negative impact which may arise. The Group will strive to keep operating costs at manageable levels while enhancing operating capabilities and efficiencies to meet customer requirements and to ensure timely satisfaction of customer orders."

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

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

Asia’s First Hybrid Online to Offline Festival to Bring Sim Racers and Entertainers Rriley and Haneri to Scape

SINGAPORE, Aug 29, 2022 – (ACN Newswire) – The Legion of Racers, with support from the Singapore Tourism Board, will be organising the HyperDrive Cities (HDC) 2022 Festival from 23 to 25 September. To be held at Orchard Road, this will be Asia's first hybrid online to offline festival that combines live sim racing, entertainment, lifestyle and technology within an urban carnival setting.

The HDC will take place during this year's Grand Prix Season Singapore (GPSS) from 23 September to 2 October. GPSS is a collection of innovative race-themed lifestyle experiences that complements the Formula 1 Singapore Airlines Singapore Grand Prix 2022 excitement beyond the track.

For three days, the HDC will be held at *SCAPE in Orchard Road and will include feature a regional sim racing championship that follows the inaugural E-Cities Championship held in November 2021, along with an electric go-karting experience and a community sim racing challenge with prizes for the fastest sim racers from the public.

The HDC Championships 2022 boasts a prize pool of SGD10,000 with the top winner guaranteed at least SGD3500.

In addition, the festival at Orchard Road will also feature the HDC Gameplay Stations, a motorsports-themed gameplay powered by Augmented Reality where participants complete the various Gamemaster challenges to earn NFTs and rare prizes.

To cap off the event, an entertainment element will be added to the post-sim race event with Singaporean artistes RRILEY and Haneri, who will both perform a set of three songs each. In addition, DJ NashD, who is the official DJ for local artistes Shigga Shay and hip hop collective Grizzle Grind Crew, will raise the decibels on 23 September from 8pm to 10pm.

"This is a unique event comprising multiple elements for the community," said Lim Keong Wee, co-founder of the Legion of Racers.

"We wanted to create a motorsport festival for everyone, ranging from electric karting for young families to youths and millennials who could watch an entertainment segment at the end of the day that features some of Singapore's hottest music talents."

Added RRILEY, who made her debut in 2012 as a founding member of the Sam Willows, "It is just so nice to be performing again and I am so excited to bring my music to a new audience."

The event is supported by the Singapore Tourism Board, which oversees the Orchard Road precinct.

Ms Guo Teyi, Director, Retail and Dining, Singapore Tourism Board, said: "We welcome the inaugural HyperDrive Cities Festival to Singapore's famous shopping street. With its diverse mix of virtual and in-person experiences, the festival will add buzz to Orchard Road and strengthen its position as a lifestyle destination beyond retail. We invite visitors of all ages to join the festival and reimagine Orchard Road's offerings."

Among the partners confirmed for the festival include McLaren, TYCA, Next Level Racing, Logitech G, Monster Energy, and Tarmac Works. A McLaren 720S sportscar will also be on display at the venue during the course of the programme.

The simulated track which the sim racers will be racing on is the Orchard Road Street Circuit, which was produced by the Legion of Racers team. For 2022, the track has been extended to include the Somerset and Dhoby Ghaut sub-precincts.

The HDC 2022 Festival is set to bring more than 5,000 members of the public to *SCAPE while thousands more will follow the HyperDrive Cities Championships live on Youtube.

All photo and visual assets can be downloaded here.
https://drive.google.com/drive/folders/1q7-el4f3XXS2zmflJQpjhFXqsRxEbvxG

Media Contact:
Melvin Moh
melvin@legionofracers.com

About HyperDrive Cities Festival 2022

HyperDrive Cities is the first of its kind to bring sim racing into familiar streets, turning cities into race circuits and unlocking the once-in-a-lifetime experience of racing virtually down urban spaces. The HDC Festival will also feature entertainment acts and RaceHub which allows members of the public to experience driving an electric kart. To find out more please visit www.hyperdrivecities.com

About Legion of Racers

The Legion of Racers is Singapore's first sim racing entertainment and lifestyle brand which combines the best in motorsports and the gaming world. With a studio in Kallang, the Legion of Racers taps into the world of sim racing and brings together online gamers who play in games such as Assetto Corsa, Assetto Corsa Competizione, Gran Turismo 7, Formula 1, and RFactor2. Follow Legion of Racers on their Facebook @LegionofRacers and on their website at www.legionofracers.com for updates and information about sim racing activities.

About the Singapore Tourism Board

The Singapore Tourism Board (STB) is the lead development agency for tourism, one of Singapore's key economic sectors. Together with industry partners and the community, we shape a dynamic Singapore tourism landscape. We bring the Passion Made Possible brand to life by differentiating Singapore as a vibrant destination that inspires people to share and deepen their passions.

More: www.stb.gov.sg or www.visitsingapore.com
Follow us: https://www.facebook.com/STBsingapore or https://www.linkedin.com/company/singapore-tourism-board/mycompany/

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

Malaysian Genomics Signs MoU with Ajlan to explore distribution of biopharmaceutical and genetic screening services in MENA region

PETALING JAYA, Malaysia, Aug 29, 2022 – (ACN Newswire) – Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, today announced that the Group has signed a Memorandum of Understanding (MoU) to explore opportunities for the distribution of biopharmaceutical and genomics products and services with Ajlan & Bros Medical Company.

Noor Azri Bin Dato' Sri Noor Azerai, Executive Director of Malaysian Genomics, and H.E. Eng. Ali AlHazmi, Group Chief Executive Officer of Ajlan & Bros Holding Group [L-R]

Ajlan, based in Riyadh, Saudi Arabia, is part of a multinational conglomerate established in 1979 with extensive global private equity, real estate and industrial investments.

As part of the MoU, the parties will explore the feasibility of Ajlan becoming a marketing and distribution representative for Malaysian Genomics for genetic screening tests, mesenchymal stem cell and exosome products. Ajlan will also identify commercial research and development (R&D) opportunities for genome sequencing and analysis in the Middle East and North Africa (MENA) region for areas such as agriculture, aquaculture, plantations, healthcare and industrial biotechnology.

Malaysian Genomics on its part will analyse samples for genetic screening tests as well as provide Ajlan with genomic and bioinformatics expertise to bid for projects through Ajlan.

Noor Azri Bin Dato' Sri Noor Azerai, Executive Director of Malaysian Genomics, said, "This is a really good opportunity for us to explore the MENA market for our products and services, especially in the area of R&D where we see a lot of growth especially in agriculture and aquaculture due to climate change impact and the health diagnosis for distinct population groups."

H.E. Eng. Ali AlHazmi, Group Chief Executive Officer of Ajlan & Bros Holding Group, said, "We look forward to working with Malaysian Genomics to bring its biopharmaceutical and genetic services and products to Saudi Arabia, which is a good launchpad to the MENA region. This MoU is just the beginning as we explore how we can work closely together in the coming months."

About Malaysian Genomics Resource Centre Berhad

Malaysian Genomics Resource Centre Berhad ("Malaysian Genomics" or "the Group") is a leading genomics and biopharmaceutical company based in Southeast Asia. The Group was established in 2004 and listed on the Bursa Malaysia stock exchange in 2010. From pioneering work in genome sequencing, bioinformatics analysis, and genetic screening services, Malaysian Genomics has expanded into the biopharmaceutical sector with the manufacturing of cell therapies including immunotherapy for various types of cancer.

Utilising its high-throughput sequencing lab, advanced microarray facility, and new state-of-the-art cell processing lab, the Group is committed to improving access to the latest in precision and personalised healthcare solutions to improve the lives of patients. For more information, visit www.mgrc.com.my.

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

Maybank Indonesia Announces Winners of Maybank Marathon 2022

BALI, INDONESIA, Aug 28, 2022 – (ACN Newswire) – PT Bank Maybank Indonesia, Tbk (Maybank Indonesia) announced the winners of the World Athletics' 'Elite' road race, the Maybank Marathon 2022, as the contest concluded its 10th anniversary run in Bali today (8/28).

With close to 10,000 runners from 50 countries, Maybank Marathon 2022 crowned Hassan Toriss, BIB 004 from Morocco, as champion of the Marathon Open Male category, with a recorded finish time of 2:15:38, and Immaculate Chemutai with BIB 025 from Uganda as champion of the Marathon Open Female category, with a recorded finish time 2:42:32. Each received a cash prize of Rp200,000,000, symbolically handed over by Maybank Marathon Project Director Widya Permana.

In the Marathon National category, Rikki Marthin Luther Simbolon was named champion for the Marathon National Male category with a recorded finish time of 2:34:49, while Odekta Elvina Naibaho came as the champion for the Marathon National Female category with a finish time of 2:55:45. Both received Rp 125,000,000 prize money.

Widya, the Maybank Indonesia Director of Operations and Project Director of the Marathon said, "At the successful conclusion of the Maybank Marathon 2022, we extend our gratitude and appreciation to everyone who has supported the Marathon since preparations began in March 2022. We congratulate the Maybank Marathon 2022 winners whose achievements have demonstrated strong determination to reach their best, in every category."

"Maybank Indonesia is honoured and proud to have organised Indonesia's first and only World Athletics 'Elite' road race Maybank Marathon, for all national and international marathon aficionados and athletes. The 'Elite' label has placed both Maybank Marathon and Indonesia prominently in the world of athletics, specifically marathon sports," concluded Widya.

Winners of the Maybank Marathon 2022 — the Marathon Open & National Category, Half Marathon (21K) Open & National Category and 10K Open & National Categories — are announced in the official release, available on: https://www.acnnewswire.com/docs/Multimedia/Maybank_Marathon_2022.pdf.

Maybank held a press conference on Saturday, 27 August at Taman Bhagawan, Bali, to preview the 2022 Marathon. The conference was hosted by Widya Permana, the Project Director and Deniawan Rachmatialevi, the Project Manager of Maybank Marathon 2022.

The flag-off, which marks the start of Maybank Marathon, was done in stages starting with the Marathon (42.195 km) category at 04.30 Indonesia Central Time Zone (WITA), followed by the Half Marathon (21.0975 km) at 05.15 WITA, the 10K at 06.00 WITA, and the wheelchair category at 06.10 WITA. For the 10th anniversary of the Marathon, this year's event posted a total prize of Rp2.7 billion for 118 winners, including record-breakers.

Maybank Indonesia witnessed strong runner enthusiasm to join Maybank Marathon 2022 as total participants were on par with events before the pandemic. The support of the central and regional Governments during this recovery period made it possible for marathon enthusiasts to participate in this year's Marathon, said Project Director Widya.

As part of the World Athletics' 'Elite' label road race and its 10th anniversary, Maybank Marathon 2022 enjoyed the participation of 10 elite marathon runners, 5 elite male marathon runners and 5 elite female marathon runners. This year's Marathon also included Indonesia's 9 personal-best time national marathon athletes in the race, consisting of 5 male marathon national runners and 4 female marathon national runners.

Safety and Security
From a safety and security perspective on the 42.195 km road race, the Organising Committee mobilised 850 Police personnel from Bali Police Department and 450 pecalang (neighbourhood / citizen security) from surrounding villages in Gianyar Regency. The Bali Police Department implemented traffic management along the course, mainly on Bypass I.B. Mantra, through the rural streets from Ketewel village, Guwang village, and the road to Medahan village.

In addition, from perspective of safety and well-being for the runners, the Organising Committee deployed around 850 marshals, an approximate 180 paramedics team, and 26 ambulances, consisting of 11 ambulance cars, 15 ambulance motorbikes and one ambulance car with emergency installation standards along the course, as well as 40 pacers, trained in First Aid Emergency Cardiopulmonary Resuscitation (CPR) procedures to handle any emergency conditions.

From Friday (8/26) to Saturday (8/27), Maybank held the Race Pack Collection (RPC) for participants to collect race packs prior to the race. For runners' safety, Maybank applies a 'You Register, You Run' policy which sets mandatory rules for all participants to collect race packs according to registered name and prohibits proxy to collect the pack. The run slots are non-transferrable, and runners can only join the race based on the selected category upon registration.

This year's Maybank Marathon RPC activity is packaged as a festival of entertainment, featuring well-known Indonesian entertainers, sponsor exhibitions, and a special exhibition for Maybank Indonesia's Sustainability program.

Maybank Indonesia further organized activities for customers to experience banking products through the Maybank Interactive Lounge, Maybank Premier & VIP Lounge and Maybank Information Station, as well as a payment system using QRIS, accessible via Maybank Indonesia's digital banking M2U application, to purchase various sponsors' products such as food and beverages, etc.

Considering the safety of runners, Maybank Marathon applies rules in line with Government Regulation regarding Outdoor Events, outlining the requirement for all runners to have at least a third vaccine (booster) and a mandatory Peduli Lindungi scan prior to entering the Race Pack Collection venue and Race Village. Participants are also mandated to follow health protocols, such as wearing masks, using hand sanitiser and keeping social distance during the event.

Marathon Supporters
Maybank Marathon 2022 received various stakeholders' support, including the Provincial Government of Bali, the Police Department of Bali, the Regency Government of Gianyar, Palang Merah Indonesia (Indonesian red cross), and the Indonesian Athletics Association (PASI).

Maybank Marathon 2022 is also supported by sponsors who played a key role in ensuring the event's success. Maybank Indonesia management and the Maybank Marathon Organising Committee convey appreciation to the following sponsors: Aqua, New Balance, Etiqa Indonesia, Pocari Sweat, Taman Bhagawan, Bali Safari & Marine Park, BMW, Berita Satu, RS Kasih Ibu, RS Kenak Medika, Biznet, Rintis ATM Prima, Traveloka, Rubiyat, Cardea, Gambino, Indofood Ice Cream, Optik Tunggal, Fit Bar, Garmin, Strive Gel, Salon Pas, Bali Hai, Waterbom, Shokz, Re.juve, Pelita Air, Swan Paradise by Pramana, Rhadana, Swiss-Belhotel Tuban, Plataran, Parasol, Royal Tulip Jimbaran, Artotel Sanur, and Tribe Hotel.

Maybank Indonesia management and the Organizing Committee also convey appreciation to the following media partners: Metro TV, Berita Satu Media Holdings, Tribun Group, Jawa Pos Group, LKBN Antara, Tempo Media Group and Gatra Media Group, as well as supporting coverage from local and other renowned media during the 2022 Marathon event with articles, videos, and photos of the event and activities.

For the latest updates on the 2022 Maybank Marathon in Bali :
– Website: https://www.maybank.co.id/Maybank-Marathon
– Instagram: @maybankmarathon
– Facebook: https://www.facebook.com/MaybankMarathon
– Twitter: @maybankmarathon

About Maybank Marathon
Maybank Marathon is an international level marathon organized by PT Bank Maybank Indonesia, Tbk (Maybank Indonesia} since 2012 which offers a full marathon (42.195 km), half marathon (21.0975 km), and 10K (10 km). Various recognition has been achieved by Maybank Marathon, among which: included as one of the eleven "Remarkable races in the world that one must participate before you die" by The Active, one of "The 52 Best Races on Earth 2016" by Runnersworld, Best Marathon 2016, Best Half Marathon 2015, and the Most Popular Sport Event 2018 by the Venue magazine.

In 2020, the Maybank Marathon received the "Elite Label" certification from World Athletics, the former IAAF, the international organization that regulates and oversees the implementation of marathon races around the world. Maybank Marathon is also part of the 175 Marathon qualification series World Championship Abbott World Marathon Major ("Abbott WMM"), Wanda Age Group World Rankings and became one of the qualifying Race Boston Marathon. Maybank Marathon 2019 became Indonesia's National Sports Agenda ("PON") qualification in Papua in 2021.

About Maybank Indonesia
PT Bank Maybank Indonesia is one of the leading banks in Indonesia and is a part of the regional and international network of the Maybank Group. Maybank Indonesia provides a comprehensive range of products and services for individual and corporate customers through Community Financial Services and Global Banking and automotive financing through subsidiaries, WOM Finance for two-wheeled vehicles and Maybank Finance for four-wheeled vehicles. Maybank Indonesia also continues to develop Digital Banking services and capacity through M2U (App and Web), M2E for corporate customer and other various channels.

As of June 2022, Maybank Indonesia has 354 branches, including Shariah branches spread across Indonesia, including one overseas branch in Mumbai, India, 22 Mobile Cash Cars and 986 ATMs connected with over 20,000 ATMs incorporated in ATM PRIMA, ATM BERSAMA, ALTO, CIRRUS, and connected to 3,500 Maybank ATMs in Singapore, Malaysia and Brunei. Maybank Indonesia manages customer deposits amounting to Rp111.66 trillion and has total assets valued at Rp167.33 trillion. Visit www.maybank.co.id.

More information, please contact:
Dimas Tjahjono Dradjat, Head, Communications
Email: communications@maybank.co.id
Tel: +6221 2922-8888

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

Subang Parade Hosts Fashion Show at its Merdeka Fiesta

KUALA LUMPUR, Aug 28, 2022 – (ACN Newswire) – Subang Parade, a core property owned by Hektar REIT, is pleased to announce the kick-off of Subang Parade Merdeka Fiesta weekend with an inaugural fashion show featuring local designers this afternoon.

YAM Tengku Temenggong Perlis Dato' Seri DiRaja Syed Amir Abidin Jamalulail, and YM Che Puan Temenggong Perlis Datin Seri DiRaja Farinawati

En Johari Shukri bin Jamil, CEO of Hektar REIT

Fashion line by Calvin Thoo

The opening event saw fashion lines unveiled by local designers Calvin Thoo, Toods, Deez, My Syakirin, Tengku Kery, ByTwoo and Bujins. The launch of the Merdeka Fiesta was graced by the attendance of YAM Tengku Temenggong Perlis Dato' Seri DiRaja Syed Amir Abidin Jamalulail, YM Che Puan Temenggong Perlis Datin Seri DiRaja Farinawati and Johari Shukri bin Jamil, Chief Executive Officer of Hektar REIT. Also in attendance were business associates, corporate figures and representatives from Subang Parade tenants.

Internationally known fashion designer Calvin Thoo, famed for his passion for fine fabrics and intricate embroidery of modern baju kurung, and celebrated for his specialisation in traditional clothing and cuttings, showcased his special lines reminding the audience of the spirit of Merdeka.

He said, "My inspiration for today's line is the independent expression of tradition meeting the 21st century, captivated yet, reminiscent of bygone days." Thoo has participated in fashion shows in Paris, Australia, China, Thailand and Indonesia and has designed for the Royal Families of Pahang, Terengganu, Kelantan, Johor and Perlis. His self-named boutique is located in Kuala Lumpur on Jalan Imbi.

Celebrities including Ifa Raziah, Yasmin Hani, Dynas Mokhtar and Suki Low, were also present with their booths of locally made merchandise at the bazaar. Other booths with interesting merchandise include Moore Authentics, Pretty Suci and Inner Sejuk.

Commenting on the weekend event, Johari said, "As the sponsor and a proud Malaysian, Subang Parade is honoured to present Merdeka Fiesta and today's Batik, Tenun and Songket Fashion Show. We take great pride in showcasing our culture and the best of Malaysia. We are looking forward to collaborating with local talents to present more unforgettable fashion experiences in the coming months and making our malls vibrant again with exciting activities and events to welcome shoppers."

The Subang Parade Merdeka Fiesta from 27 August to 31 August 2022 has activities lined up, including fashion shows, performances by local celebrities, a bazaar featuring locally made and produced merchandise, local cuisine cooking demonstrations, hobby demonstrations and a petting zoo to bring families, neighbours and friends together.

Download hi-res images:
Launch Event: https://www.dropbox.com/sh/z72whqsz42021re/AADrj-FRrnsjcmOT6ndTUpHHa?dl=0

Subang Parade: https://www.subangparade.com.my/

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

Spartan Capital: Society Pass (Nasdaq: SOPA) – SoPa’s Nusatrip Cleared for Take-off

NEW YORK, Aug 26, 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/SpartanCapital-SOPA-25August

Summary Points:

– Society Pass recently closed on its acquisition of the Indonesian online travel site Nusatrip just as the Indonesian travel market is taking off with international travel up 525% year-to-date.

– The deal was signed at an event on July 1st and just closed on August 15th with SoPa paying $620,000. Spartan Capital attended the closing event, visited Nusatrip's Jakarta offices, met with its founder and CEO, and met the president of the seller, PT Moratelindo in Jakarta. Moratelindo is a telecom juggernaut in Indonesia with strong government connections, but Nusatrip was not a core business. The two companies remain close, for example with Nusatrip utilizing Moratelindo data centres, so SoPa has gained a strong, valuable partner in the region.

– Nusatrip is the third largest online travel agency in Indonesia, after Traveloka, which is independent, and Tiket.com, which is owned by the Indonesian conglomerate Djarum Group. According to recent press accounts, both have considered capital markets transactions in the last year which would value each in the billions of dollars. So Nusatrip could well be worth more than SoPa paid.

– Indonesia is a democracy with the fourth largest population in the world. GDP growth is projected at around 5% this year and next and its rapidly growing young population is served by numerous ultra-low-cost carriers (ULCCs). In Spartan Capital experience, young emerging market adults tend to avail themselves of international travel as soon as they have some disposable income. The domestic market is huge as Indonesia is an archipelago consisting of 18,000 islands, so much travel is by air, not by car.

– Nusatrip was EBITDA positive and growing rapidly before the pandemic with positive EBITDA from 2014, its second year in business, to 2018.

– The Indonesian travel market is again booming with traffic up 92% over 2021 through the first six months of this year. Spartan Capital expects this rebound to continue as it began later than the US and European markets and traffic is only about half that of 2019, before the pandemic.

– So, in Spartan Capital's view, SoPa has impeccable timing, buying a business that was loaded with debt incurred to cover operating costs during the pandemic but poised for rapid growth, and likely to return to profitability again soon.

– Spartan Capital identifies six relatively straightforward synergies between Nusatrip and the other SoPa business units which should drive revenue across the ecosystem, furthering the founder's dream of creating the next billion-dollar Southeast Asia super-app.

1. Expand Nusatrip to the other four countries where SoPa operates.
2. Cross sell Gorilla travel eSIMs so Nusatrip international travel customers can use their phones abroad.
3. Leverage Thoughtful Media social media/influencer marketing to market the service.
4. Leflair, SoPa's luxury goods flash sale app, is launching in Indonesia later this year.
5. Allow Nusatrip customers to earn points through the Society Pass loyalty program to purchase goods on any of the seven other SoPa businesses.
6. Allow customers of the other seven SoPa businesses to use their loyalty points for travel booked through Nusatrip.

About Society Pass Inc

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

Sarawak Consolidated Industries Berhad Posts RM26.2 Million Revenue in 4Q

KUCHING, MALAYSIA, Aug 26, 2022 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company recorded revenue of RM26.2 million for the fourth quarter ended 30 June 2022 mainly due to higher sales volume of foundation piles from the manufacturing division.

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

For the quarter under review, the Company registered a loss before tax (LBT) of RM45.9 million mainly due to net impairment loss in trade and other receivables of RM18.0 million as well as expenditure incurred in various project-related activities of RM25.0 million from the engineering, procurement, construction and commissioning (EPCC) division.

For the financial year ended 30 June 2022, the Company registered revenue of RM128.4 million and a LBT of RM52.0 million. There are no comparisons for the quarter and full financial year as the Company has changed the financial year-end from 31 December as previously announced to Bursa Malaysia Securities Berhad on 24 May 2021.

Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said, "We are cautiously optimistic as the domestic economy continues to improve with the 8.9% growth year-on-year for the second quarter ended 30 June 2022. The announcement of the RM50.0 billion MRT3 project and the continuation of other large civil infrastructure projects is also contributing positive impacts to the construction sector and businesses like ours as we will certainly leverage on our manufacturing and EPCC expertise to seek opportunities."

"We have made inroads into Peninsular Malaysia focusing on small to mid-sized projects and we are exploring opportunities in Indonesia for the construction of 4G telecommunications infrastructure as well as how we can leverage our manufacturing facilities for the new Indonesian capital at Nusantara in Kalimantan. SCIB will continue to seek projects in Sabah and Sarawak in which RM5.2 billion and RM4.6 billion were allocated respectively under Budget 2022. We are also exploring the use of technologies such as the 3D printing system and automation as part of the next phase of growth in the construction industry."

As of 30 June 2022, SCIB has an order book of RM1.52 billion with earnings visibility until 2026.

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

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

Merdeka at Kuantan 188

KUANTAN, Malaysia, Aug 26, 2022 – (ACN Newswire) – Kuantan 188, Malaysia's second-tallest tower, will host two major events, the Kuantan 188 International Extreme Challenge (KIEC), their first-ever challenge event since reopening early this year, and Pesta Kuantan 188.

En Mohd Shafrul Bin Kadir, Jabatan Belia & Sukan Negeri Pahang; Dato' Sri Haji Mohd Johari, Exco Sumber Manusia, Belia & Sukan; YB Senator Dato' Sri Ti Lian Ker, Timbalan Menteri Belia & Sukan; Dato' Zulkifli Mohamad, Kuantan 188 Managing Director; Man Bai, Malaysian rock singer; Puan Haslina Binti Bahasan, Ketua Jabatan Bahagian Pelaburan dan Penswastaan [L-R]

Khairul Azrin Bin Abdullah, Skywalk Operator of Tower Kuantan 188

Encik Jamaluddin Ismail, oldest Malaysian base jumper, 67years old

The KIEC will see a group of people base jumping from the tower in celebration of Merdeka while Pesta Kuantan will be held from 27 August 2022 to 4 September 2022.

The launch will be officiated by Deputy Minister of Youth and Sports, YB Senator Dato' Sri Ti Lian Ker and Chairman of the Pahang State Human Resources, Youth, Sports and Non-Governmental Committee YB Dato' Sri Haji Mohd Johari bin Haji Hussain.

To promote adventure and outdoor sports, the Ministry of Youth and Sports will continue to support events such as KIEC and work closely with Kuantan 188 to encourage local youth groups to use the Kuantan 188 as their venue of choice.

The main focus of the KIEC will be a group of volunteer base jumpers who will jump down 104 metres from the skydeck. There will be a total of 65 jumps from multiple jumpers on 30 August 2022 carrying the Kuantan 188, Pahang and Malaysian flags commemorating 65 years of independence. Among the base jumpers is the country's oldest, 67-year-old Encik Jamaluddin Ismail, from Mentakab, Pahang.

Besides Malaysian base jumpers, there will also be participants from United States, Singapore and Indonesia. Other sports will also be held at the same venue, including paintball, drop zone, kickboxing, outdoor zumba and hammock zone while children can enjoy activities at Kuantan 188's Kids Club and Zipline. The festival will also be hosting local brands with a nine-day pop up retail booth to bring awareness to local talent and support local merchandise.

To celebrate the birthdays of KDYMM Yang Di Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah and KDYMM Seri Paduka Baginda Raja Permaisuri Agong Tunku Hajah Azizah Aminah Maimunah Iskandariah Binti Almarhum Al-Mutawakkil Alallah Sultan Iskandar Al-Haj, which were on 30 July 2022 and 5 August 2022 respectively, Kuantan 188 will host a concert featuring Man Bai and Joe Flizzow, among others, on 3 September 2022.

Tickets for the concert will be on sale via www.gotifi.com, with four categories available for purchase – TIER 1 (RM188), TIER 2 (RM138), TIER 3 (RM88) and TIER 4 (RM58).

Pesta Kuantan 188 concert is supported by MAA Group Berhad and Imperium International College and sponsored by Selborn Group, Wawasan Intact Properties, CKS Global Buildility, LBS Bina Group, Cameron Valley Tea and Bharat Group, TAS Leisure, Chili's Bar and Grill and Dancom. Official hotel sponsors include Shahzan Hotel Kuantan and Ramada Suites by Wyndham KLCC.

Lucky draw items are powered by Cuckoo, Toush Inspired by Pensonic & Panasonic.

To know more about KIEC and Pesta Kuantan 188, check out @kuantan.188 on Instagram, Facebook and TikTok for recent updates, as well as www.kuantan188.com.my.

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/

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

Subang Parade Holds Merdeka Fiesta to Celebrate National Day

KUALA LUMPUR, Aug 24, 2022 – (ACN Newswire) – A host of family-friendly activities is being rolled out by Subang Parade, a mall owned by Hektar Real Estate Investment Trust (Hektar REIT), taking inspiration from the theme for the country's National Day, "Keluarga Malaysia Teguh Bersama", or "Malaysian Family, Strong Together" while supporting local culture and designers.

Subang Parade

Johari Shukri bin Jamil, CEO of Hektar Asset Management

Aptly named Subang Parade Merdeka Fiesta, held over 27-28 August and on 31 August 2022, the activities include fashion shows celebrating Malaysia's rich Batik, Tenun and Songket traditions and showcasing homegrown talents as well as a bazaar featuring locally made and produced merchandise, local cuisine cooking demonstrations, hobby demonstrations and even a petting zoo to bring families, neighbours and friends together.

The launch of Subang Parade's one-of-a-kind fashion show on 27 August will feature designers such as Calvin Thoo who is known for his specialization in traditional fabrics.

Puan Aldela Puspa bin Nordin, CEO of Hektar Property Services Sdn Bhd, the property manager of Subang Parade said, "Merdeka Fiesta is put together to bring awareness among Malaysians of the rich heritage and common interests, values and history of the country, helping to build a firm foundation for the future. The Batik, Tenun and Songket fashion show as well as the display of mostly locally produced merchandise will be a good showcase of all things Malaysian."

Calvin Thoo explained, "Batik is Malaysia. The intricate art of making quality Malaysian batik fabric and tenun weaving remains a traditional process and the skills that are being passed on from generation to generation in family businesses and in associations must be preserved. Batik fabrics has been adopted over the generations from the Malays by the different ethnic groups in Malaysia's multicultural society."

There will be a special showcase of the traditional batik and songket handmade and designed by the residents of Penjara Kelantan, a proud initiative under Yang Teramat Mulia Tengku Puan Temenggong Kelantan Tunku Puan Sri Dato' Hajjah Noor Hayati binti Almarhum Tunku Abdul Rahman Putra al-Haj'.

Over the three days of the Subang Parade Merdeka Fiesta, there will also be a pet adoption campaign alongside a petting zoo. There will also be tutorials and demonstrations of, among others, makeup and terrarium building. For hijabistas, there are tutorials happening on 28 and 31 August.

Dato' Zamzani Abdul Wahab, popularly known as 'Chef Zam', a popular Malaysian celebrity chef, will be showcasing his culinary expertise on 31 August 2022 through several cooking demonstrations. There will also be performances by widely known artistes.

Chief Executive Officer of Hektar Asset Management Sdn. Bhd., En. Johari Shukri bin Jamil said, "We are extremely grateful and excited to be able to gather together and share happy experiences in Subang Parade, which is also the first regional mall to open in Selangor in 1988. The Merdeka Fiesta showcases our Malaysian culture and roots that we want to not just uphold but share with the rest of the world. These includes not just our culinary traditions but also our fashion and art as can be seen from the batik and songket designs presented here."

"Subang Parade has been the centre for families and workers in the surrounding neighbourhoods for more than 30 years. Since then, the mall has undergone several enhancements and refurbishments to ensure that it remains on top of market trends while catering to our target market. We want to remain a premier gathering place for families and friends in the Klang Valley and we will continue to upgrade facilities as well as introduce new retail brands and services to ensure that they get as much as possible out of their visit to the mall."

Subang Parade hopes to welcome everyone in a safe manner and would like all visitors to continue adhering to social distancing and having masks on at all times.

Subang Parade: https://www.subangparade.com.my/

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