Seng Fong Holdings Berhad Debuts on Main Market of Bursa Malaysia

KUALA LUMPUR, Jul 7, 2022 – (ACN Newswire) – Seng Fong Holdings Berhad, a rubber processor producing and trading Standard Malaysia Rubber and premium grade block rubber, made a successful debut on the Main Market of Bursa Securities Malaysia Berhad, opening at RM0.75 per share with an opening volume of 10.8 million shares, which is the same as the initial public offering (IPO) price of RM0.75 sen per share.

Seng Fong's market capitalisation at listing is RM389.22 million, and the Company was listed under the stock name, SENFONG and stock code, 5308.

The Chairman of Seng Fong, Mr. Ng Ah Bah @ Kok Yee, thanked the Securities Commission Malaysia, Bursa Securities, Hong Leong Investment Bank Berhad (HLIB) and other professionals involved in the IPO, and highlighted that the listing provides the Company the opportunity to realise its immediate objectives as well as investing in environmental, social, and governance (ESG) initiatives.

"Going forward, we will be well-positioned to capture opportunities arising from the increasing demand from our existing customers as well as from new customers as we ramp up production through the hiring of more people for a second shift and implementing ESG initiatives to make our business more sustainable."

"Building a sustainable business also requires the support of our shareholders. Thus, we intend to distribute at least 50% of our annual net profit as dividend to shareholders, subject to the approval of the Board of Directors and shareholders."

Block rubber is driven by the automotive industry with approximately 70% of global natural rubber being used for tyre manufacturing. Going forward, the world vehicle sector is anticipated to grow at a 5-year (2021 to 2025) CAGR of 7.03% to 105.0 million units.

Seng Fong is raising RM68.1 million from the IPO. From the proceeds, RM19.7 million has been allocated for working capital requirements including purchase of raw materials and the hiring of additional workers; RM37.9 million for the repayment of bank borrowings that include the partial funding for the solar system units, RM6.3 million to fund the installation of the biomass system units and RM4.2 million for listing expenses.

The installation of the solar system is estimated to achieve cost-savings of approximately RM2.6 million per annum from electricity costs and a further RM3.5 million per annum from diesel costs through the installation of the biomass system.

For the financial year ended 30 June 2021, the Company's export market share of block rubber stood at 11.8% based on its export output of 121,404 metric tonnes ("MTS") against the country's total export volume for block rubber of 1.03 million MTS in 2021. Seng Fong's revenue is almost entirely derived from exports, with the primary markets being China, Hong Kong, Singapore, and Taiwan.

The block rubber produced by Seng Fong are sold directly to end-user customers, majority are tyre manufacturers, and are also sold to international rubber traders. Block rubbers which are sourced from international rubber traders and/or natural rubber processors, for trading purposes, are sold to tyre manufacturers.

HLIB is the Principal Adviser, Underwriter and Placement Agent for the IPO.

Seng Fong Holdings Bhd: http://sengfongholdings.com/

Pictured (from left):
– Mr. Phang Siew Loong, Head of Equity Markets, Hong Leong Investment Bank Berhad
– Mr. Shim Choon Lim, Co-head of Corporate Finance, Hong Leong Investment Bank Berhad
– Ms. Lim See Tow, Independent Non-Executive Director, Seng Fong Holdings Berhad
– Mr. Jimmy Er Tzer Nam, Non-Independent Executive Director
– Mr. E Tak Bin, Non-Independent Executive Director, Seng Fong Holdings Berhad
– GONG –
– Mr. Er Hock Lai, Managing Director, Seng Fong Holdings Berhad
– Mr. Ng Ah Bah @ Kok Yee, Independent Non-Executive Chairman, Seng Fong Holdings Berhad
– Ms. Lee Jim Leng, Group Managing Director/Chief Executive Director, Hong Leong Investment Bank Berhad
– Ms. Lim May Wan, Independent Non-Executive Director, Seng Fong Holdings Berhad
– Mr. Chong Yeaw Kiong, Independent Non-Executive Director, Seng Fong Holdings Berhad
( https://www.acnnewswire.com/topimg/Low_SengFong2022707.jpg )

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

32nd Hong Kong Book Fair opens on 20 July

HONG KONG, Jul 6, 2022 – (ACN Newswire) – The 32nd HKTDC Hong Kong Book Fair, organised by the Hong Kong Trade Development Council (HKTDC), will run from 20 to 26 July (Wednesday to Tuesday) at the Hong Kong Convention and Exhibition Centre (HKCEC). As one of the events celebrating the 25th anniversary of the establishment of the Hong Kong Special Administrative Region (HKSAR), this year's Book Fair has invited acclaimed writers and organised over 600 seminars and cultural activities.

Sophia Chong, Deputy Executive Director of the HKTDC

Attending the press conference are (from left) Edmund Chan, Director of the Hong Kong Publishing Federation; Lee Ka-kui, Chairman of the Hong Kong Publishing Federation; Sophia Chong, Deputy Executive Director of the HKTDC; Yau Lop-poon, Editor-in-Chief of Yazhou Zhoukan; and Cheng Po-hung, Honorary Adviser of the Hong Kong Museum

Among the exhibitions in the Art Gallery at the Book Fair are "History Writers", "City Literature", "Tastes of Hong Kong" and "Hong Kong Architecture"

With the overarching theme "History and City Literature", the Book Fair will walk visitors through Hong Kong's cultural and historical development and portray the city's charm through the creations of this year's featured authors, echoing the tagline "Reading the World: Stories of Hong Kong". The Book Fair will run in parallel with the HKTDC Hong Kong Sports and Leisure Expo and HKTDC World of Snacks which are expected to attract a total of over 700 exhibitors, offering visitors stimulation for the brain, body and palate with a single entry ticket.

Sophia Chong, Deputy Executive Director of the HKTDC, said: "The theme this year, 'History and City Literature', selected by the Hong Kong Book Fair Cultural Events Advisory Panel, is particularly meaningful. Only through words and texts can the city's historical evolution from a small fishing village to an international metropolis be so well depicted and documented. These countless wonderful books help narrate many of the city's stories and display its unique character in a vivid and timeless way. The Book Fair has invited renowned authors to share their creative journey and spread the joy of reading to the public. The HKTDC Hong Kong Sports and Leisure Expo and HKTDC World of Snacks will be held alongside the Book Fair and offer a selection of sports and leisure products and experiences, as well as tasty treats from around the world."

Thematic exhibitions highlight Hong Kong's culture and history

Aligning with this year's theme, four thematic exhibitions will be staged at the Art Gallery at the HKCEC Hall 3 Concourse. The "History Writers" exhibition will feature the works of five outstanding writers, including (in no particular order) Ting Sun-pao, Lui Tai-lok, Elizabeth Sinn, the late Yeh Ling-feng and Cheng Po-hung. A selection of their books, out-of-print works, manuscripts and precious collections will be displayed to help readers better understand the philosophy behind their lives and creations. The writers will also share insights into researching Hong Kong's history and their writing techniques. Yeh Chung-man will attend the Book Fair on behalf of her late father, Yeh Ling-feng.

"City Literature" will be an interactive exhibition, featuring 25 literary works about Hong Kong and taking readers on a journey through different parts of the city from multiple perspectives such as historical buildings, streets, housing estates and lifestyles.

The two other thematic exhibitions are "Tastes of Hong Kong" and "Hong Kong Architecture". Working in collaboration with Cheng Po-hung, Lau Tsz-chun, James Ng, Wu Gui-long, the Chinese Culinary Institute, Tao Heung Museum of Food Culture and Yung Kee Restaurant, "Tastes of Hong Kong" visualises the evolution of Hong Kong's culinary culture and display artefacts such as a rice dispensing certificate from 1953, a number of valuable old menus, rare vintage tableware, and miniatures of retro restaurants and stalls. Meanwhile, the "Hong Kong Architecture" exhibition is run in partnership with Urban Sketchers Hong Kong and National Geographic, displaying paintings and photographs by artists depicting Hong Kong's historical sites.

"Eight Seminar Series" connects writers with booklovers

The "Eight Seminar Series" continues to be a major highlight at the Book Fair. The topics this year cover a wide spectrum of literary interests, including "Stories of Hong Kong", "Renowned Writers", "English and International Reading", "World of Knowledge", "Children and Youth Reading", "Lifestyle", "Hong Kong Cultural and Historical", and "Personal Development and Spiritual Growth", encouraging the general public to explore different book genres and cultivate new interests.

Partnered with Ming Pao and Yazhou Zhoukan, the HKTDC is once again organising the "Renowned Writers Seminar Series" with leading authors invited to share their creative insights. Among those speaking are Liu Zhen-yun, winner of the Mao Dun Literature Prize, documentary photographer Liu Heung-shing, Hong Kong historian Sun Sai-shing, Chinese literature scholar Xu Zi-dong, art curator Li Pi, internationally renowned art critic Johnson Chang and more.

The "English and International Reading Series" supported by Book Depository, an international online bookstore, will invite a number of famous English and foreign-language writers to tell their intriguing writing journeys and share tips on creating captivating stories with readers at a series of virtual and in-person seminars. They include British author Clare Mackintosh, who has sold more than two million copies of her books; Sunday Times Top 10 bestselling author Gillian McAllister; British author Simon Toyne, who presents a true crime TV series; and British-born Chinese author Maisie Chan, who won the Jhalak Children's & YA Prize 2022. Mio Debnam, an author of more than 25 children's books, and veteran China correspondent Mark O'Neill will speak at the fair in person. Also hosting seminars under other series will be food critic and bon vivant Chua Lam; former Director of the Hong Kong Observatory Sham Chi-ming; Dean of the Faculty of Medicine of the Chinese University of Hong Kong Chan Ka-leung; well-known screenwriter Chong Mui-ngam; and So Wa-wai, a retired athlete from Hong Kong who has won a number of Paralympic gold medals.

In addition, this year's fair will continue with the "Storytelling by Celebrities" events, inviting former Chinese champion diver Guo Jing-jing, Hong Kong bowling athlete Wu Siu-hong, Hong Kong Museum of Art Chief Curator Mok Ka-wing, Hong Kong Federation of Youth Groups Executive Director Andy Ho and veteran journalist Karen Cheng to share their inspirational stories with children.

For more information on the full line-up of seminars and authors at the Book Fair, please visit: https://hkbookfair.hktdc.com/tc/Events/Event-Schedule.html

Exciting experiences at Hong Kong Sports and Leisure Expo

This year's Hong Kong Sports and Leisure Expo will cover eight thematic zones and present a variety of sports and leisure brands, products and experiences. A range of fun experiences will be offered for visitors to enjoy free of charge, including an e-sports racing competition and simulator trials from Challenger Z-ntertainment Limited, lacrosse demonstrations and mini-games from the Hong Kong Lacrosse Association , a free flight simulator experience from Wings Flight Academy, and free golf simulator trials presented by GreenLive Enterprises Limited.

Across the expo floor, various exciting sports demos and performances will also be offered. There will be star sharing sessions by Hong Kong motorsports racing driver Darryl O'Young and representatives of the Hong Kong National Baseball Team, a freestyle soccer performance, a Japanese dance performance, and an immersive one-to-one virtual reality tour of Kai Tak Sports Park.

In addition, Photography World will gather a collection of cameras including the world's first F2 aperture mirrorless camera with high-magnification zoom lens and Kodak cameras. Photography enthusiasts will also share their insights at the expo. Another themed area, Board Games, will showcase a variety of table games including those by Ha! Design Studio Limited, which has collaborated with TamJai SamGor Mixian and Lee Kum Kee to launch various board games with local themes, including "Tam Jai Jeh Jeh" and "Hong Kong Wet Market".

The Japan Pavilion this year has expanded in size by 20%. Kadokawa Corporation, among the top four publishing houses in Japan, will feature scenic spots and traditional culture from Japan along with the Japan National Tourism Organization and 10 Japanese prefectures and cities.

World of Snacks returns with a global selection of tasty treats

Following the success of last year's debut event, World of Snacks returns to feature six thematic zones – Travel Delights, Chocolate and Sweet Factory, Oldie Snacks, Yummy & Healthy, Party Time and Snack Bar – bringing together more than 1,000 popular treats from across the globe.

Travel Delights offers prawn crackers delivered directly from Nagoya; matcha-no-sato egg rolls from Yamamasa Koyamaen; and crispy fish bones, original pineapple cakes and Wu Songdian meat muffins from Taiwan. Oldie Snacks offers coconut candies and coconut ice cream from the local century-old brand Yan Chim Kee; crispy peanuts with shrimp roe from the 70-year-old peanut brand Tsui Heung Food Factory; and mixed nuts from the 30-year-old local food manufacturer Butterfly Brand. Yummy & Healthy offers Greek pink rock salt pistachios, vegan chocolate flakes, organic nuts and more. Chocolate and Sweet Factory presents the famous German candy brand Bears & Friends, while Spanish handmade rock candy brand Papabubble will present a rock candy workshop on stage. Snack Bar, meanwhile, gathers a number of local enterprises to promote handmade snack products.

The HKTDC Education & Careers Expo will be held at the HKCEC from 21 to 24 July, running in parallel with the Book Fair and other events. Youngsters and jobseekers can access the latest information on education and career opportunities at this one-stop event. Admission is free of charge.

Enhanced on-site hygiene measures ensure participants' safety

The safety of the public is a top priority for the HKTDC, and various measures will be implemented throughout the concurrent events to protect the health of participants. Following the HKSAR Government's COVID-19 protocols, all staff members, exhibitors and visitors will be required to wear masks in the venue and use the LeaveHomeSafe mobile app and show their COVID-19 vaccination record before entering the HKCEC. Except for designated food and beverage areas, no food, drinks or food tasting will be allowed inside the venue, including at the booths. Other safety measures include temperature-screening stations, the provision of hand sanitisers and disinfection items at multiple locations around the HKCEC, as well as enhanced cleaning and disinfection at the venue.

To ensure a more even flow of visitors throughout the day, the HKTDC will introduce morning admission tickets, night admission tickets as well as a special re-entry promotion. No physical ticket sales will be arranged at the fairground to avoid the use of cash and minimise contact. Visitors can pay with their Octopus cards at the entrance's toll booths to gain entry. More details of the ticketing arrangements can be found below.

Cultural July in hybrid mode

Alongside the Book Fair, the HKTDC is collaborating with numerous cultural and educational institutions, libraries, museums, shopping malls, cafes and bookstores to organise a series of cultural events in the 18 districts of Hong Kong running from 24 June to 31 July as part of the Cultural July citywide campaign. Activities include various seminars by renowned writers, family workshops, dramas and exhibitions, helping the general public deepen their knowledge and boost the city's reading culture.

In a nod to digitisation trends, the HKTDC will again set up a Cultural Journey Online webpage on the Book Fair website to provide resources for activities such as online reading and to offer e-reading resources, seminars and exhibitions.

HKTDC Hong Kong Book Fair, HKTDC Hong Kong Sports and Leisure Expo and HKTDC World of Snacks
https://mediaroom.hktdc.com/en/pressrelease/detail/20360/

Photo download: https://bit.ly/3Rcxji8
Photos of the exhibits, key speakers and other Book Fair highlights can be found at: https://rb.gy/djjg6w

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

Hong Kong Book Fair

HKTDC's Communications & Public Affairs Department:
Clementine Cheung, Tel: +852 2584 4514, Email: clementine.hm.cheung@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org

Yuan Tung Financial Relations:
Agnes Yiu, Tel: +852 3428 5690, Email: ayiu@yuantung.com.hk
Hing-Fung Wong, Tel: +852 3428 3122, Email: hfwong@yuantung.com.hk

Hong Kong Sports and Leisure Expo, World of Snacks

HKTDC's Communications & Public Affairs Department:
Frankie Leung, Tel: +852 2584 4298, Email: frankie.cy.leung@hktdc.org

Yuan Tung Financial Relations:
Tiffany Leung, Tel: +852 3428 2361, Email: tleung@yuantung.com.hk

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

Malaysian Genomics to Offer First-Ever Sports-Based Tests Specific to Southeast Asian Genetic Profiles

PETALING JAYA, Malaysia, Jul 6, 2022 – (ACN Newswire) – Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, is pleased to announce that the Group's wholly-owned subsidiary, MGRC Therapeutics Sdn Bhd (MGRCT), is collaborating with Rinani Genotec Sdn Bhd (Genotec) to offer sports-based genetic tests.

Genotec, a biomedical technology firm focusing on stem cell treatment and genetic testing, now offers a direct-to-consumer sports and fitness DNA test which enables individuals to better understand their genetic profile in sports and fitness-related areas. The test result includes categories such as energy metabolism and utilisation, muscle performance, response to cardiovascular training, weight management, nutrient metabolism, bone and joint health, and mental ability and performance. The information can then be integrated by individuals into their lifestyle in order to improve their daily sport and fitness performance.

The collaboration will see both parties consult and collaborate on sports-based genetic profile testing and the marketing of these services. In addition, Genotec will also work closely with MGRCT on the marketing of Malaysian Genomics' full range of Dtect genetic screening tests.

Dato' Alvin Joseph, Executive Director of MGRC, said, "This collaboration is another important step towards realising our vision of becoming a premier integrated life sciences company. By partnering with experts in sports science, we have now pioneered a genetic screening profile specifically designed for professional and amateur athletes, and everyday fitness enthusiasts. The science of genetics has a long history in professional sports and through this new profile we can support sportspeople in their pursuit of peak performance."

Mr. Julian Koay, Genotec's Director of Business Development, said, "With Malaysian Genomics' experience in genetics, what we have developed can be a game-changer for athletes and sports talents. We will use this new sports genetic profile to personalise fitness, sports and recovery regimes of sportspeople, to improve their performance."

Founders of Genotec, Julian Koay and Watson Chung, are the first certified DNA-based trainers in Malaysia, offering a unique programme combining knowledge of individuals' genetic profiles with a fitness or training regime that enhances the effectiveness of the fitness or training programmes.

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

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

Indonesian peace mission on Russia-Ukraine conflict

JAKARTA, Jul 3, 2022 – (ACN Newswire) – President Joko Widodo has accomplished his visits to Ukraine and Russia on Thursday evening (June 30) to invite both countries to build dialogue, stop the war, and build peace.

President Joko Widodo has visited Kyiv, Ukraine, for a peace mission. (Laily Rachev – Biro Pers Sekretariat Presiden)

President started his mission by visiting Kiev, Ukraine. At the Maryinsky Palace, Kyiv, Jokowi was greeted by Ukrainian President Volodymyr Zelenskyy on Wednesday afternoon (June 29).

For Ukraine, that day was a historic day, as President Jokowi's visit was the first one to be made by an Asian leader since the start of the Russian invasion of Ukraine.

Jokowi, during a joint press statement with Zelenskyy, conveyed several important points from his visit to Ukraine.

"I conveyed to President Zelenskyy that I made this visit as a manifestation of Indonesia's concern for the situation in Ukraine," he remarked.

He reiterated the invitation to Zelenskyy to attend the G20 Summit in November 2022 in Bali.

Jokowi also emphasized Indonesia's principled position regarding the importance of respect for sovereignty and territory.

"Although it is still very difficult to achieve, I still convey the importance of a peaceful settlement, and the spirit of peace must never fade," he affirmed.

Indonesia will strive to contribute through assistance, including medicines, and remain committed to reconstructing one of the hospitals around Kiev.

To this end, President Jokowi offered to carry a message from President Zelenskyy to President Putin.

On the other hand, President Zelenskyy praised Jokowi's visit because Indonesia hosts the G20 Presidency this year and is the strongest country in ASEAN.

Zelenskyy expressed optimism that it would strengthen the effort to end the war.

After visiting Kiev, President Jokowi also made a visit to Moscow, Russia and meet Russian President Vladimir Putin.

During the visit, Jokowi emphasized the issue of peace and humanity has always been a priority for Indonesia.

"The Indonesian Constitution mandates Indonesia to always try to contribute to the creation of world peace. In this context, I made visits to Kiev and Moscow," he stated.

He also emphasized that food and fertilizers were humanitarian issues and were of interest to the world community. Thus hundreds of millions of people affected by disruptions, especially in developing countries.

Hence, Jokowi lauded Putin's guarantee for the security of food and fertilizer supplies.

Jokowi stressed that Indonesia has no interest apart from helping resolve the war between Russia and Ukraine.

"I invite all world leaders to work together to revive the spirit of multilateralism, the spirit of peace, and the spirit of cooperation," President Jokowi stated.

Meanwhile, Putin noted that Indonesia is one of their key partners in the Asia-Pacific region.

"Russian-Indonesian relations are constructive and mutually beneficial, developing steadily on the basis of long-standing good traditions of friendship and mutual assistance," he said.

During the joint press conference, President Jokowi reiterates the importance of the spirit of peace.

With President Jokowi's visit to Ukraine and Russia for a peaceful mission, hopes are pinned high on the war ending soon and the food crisis being mitigated quickly.

Written by: Katriana, Editor: Rahmad Nasution (c) ANTARA 2022

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

Indonesian calls, messages at G7 Summit

JAKARTA, Jun 30, 2022 – (ACN Newswire) – Indonesian President Joko Widodo (Jokowi) has arrived at the venue of the 48th G7 Summit in Schloss Elmau, Germany on Monday afternoon (June 27) local time (UTC+1) to attend the meeting in the capacity of a partner country and as the G20 President.

Indonesian President Joko Widodo in conversation with French President Emmanuel Macron and United States President Joe Biden while attending the G7 Summit in Elmau, Germany, Monday, June 27, 2022. ANTARA/HO-Press Bureau of the Presidential Secretariat/Laily Rachev/aa/ak. (Handout of Press Bureau of the Presidential Secretariat/Laily R)

The G7 is an informal forum bringing together leaders of the world's leading industrial nations from the European Union and countries such as Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.

Jokowi was welcomed by German Chancellor Olaf Scholz.

During the official welcoming session by the chancellor, Jokowi was present with the leaders of G7 partner countries, including Argentine President Alberto Fernandez, Indian Prime Minister Narendra Modi, Senegalese President Macky Sall, and South African President Cyril Ramaphosa.

Furthermore, during the photo session, he posed for a picture accompanied by the German chancellor and United States President Joe Biden.

All heads of government attended two sessions of the G7 meeting.

President Jokowi invited G7 countries to contribute to capitalizing on investment opportunities in the clean energy sector in Indonesia.

President Jokowi conveyed the statement while attending the G7 Summit working lunch session based on the topics of climate change, energy, and health in Elmau, Germany, Monday (June 27).

"(This is) especially (regarding) investment opportunities in the clean energy sector in Indonesia, including the development of an electric car and lithium battery ecosystem," the president stated.

According to President Jokowi, Indonesia's potential, as a contributor to clean energy, whether in the bowels of the earth, on land, or at sea, is very large. Indonesia needs large investments and low-carbon technologies to support a fast and effective transition to clean energy.

"Indonesia needs at least US$25-30 billion for energy transition in the next eight years. We can optimize this transition as a motor of economic growth, open up business opportunities, and create new jobs," President Jokowi stated.

Furthermore, the president noted that in Indonesia as well as in other developing countries, the risk of climate change is very real, especially since it is an archipelagic country, with 17 thousand islands. The risks are not only detrimental to health but also put farmers and fishermen in trouble.

"We really hope for the support of all G7 countries in the Indonesian Presidency at the G20. See you in Bali. Thank you," the president stated.

During session II of the G7 summit on the topics of food security and gender equality, President Jokowi called on G7 and G20 countries to jointly overcome the food crisis that currently threatens people in developing countries to fall into extreme hunger and poverty.

"(Some) 323 million people in 2022, according to the World Food Programme, are at risk of facing acute food insecurity. The G7 and G20 have a big responsibility to overcome this food crisis. Let us fulfill our responsibilities now and from now on," President Jokowi affirmed.

According to the president, food is the most basic human rights issue. Indubitably, women from poor families suffer the most from food shortages for their children and families.

"We must act quickly to find a concrete solution. Food production must be increased. The global food and fertilizer supply chain must return to normal," the president stated.

In his speech, President Jokowi emphasized the importance of G7 countries' support for the reintegration of Ukraine's wheat exports and Russia's exports of food and fertilizer commodities in global supply chains.

There are two ways to realize this, with the first being the facilitation of Ukraine's grain exports that can begin immediately.

According to the president, the second approach is proactive communication with the public worldwide that food and fertilizer commodities from Russia are not subject to sanctions.

"This intensive communication is very necessary, so that there is no prolonged doubt in the (minds of the) international public. This intensive communication also needs to be strengthened with communication with related parties, such as banks, insurance, shipping, and others," the president explained.

President Jokowi had paid significant attention to the impact of the war on food and fertilizer supply chains.

"(This is) especially for fertilizers, because if we fail to handle it, then a rice crisis involving two billion people, especially in developing countries, can occur," the president cautioned.

At the end of his remarks, the president again called for the importance of the G7 and G20 countries to jointly overcome this food crisis while also inviting G7 leaders to attend the G20 Summit in Bali.

"I am waiting for the G7 leaders to attend the G20 summit. See you in Bali, on November 15-16, 2022," President Jokowi stated.

Meanwhile, Minister of Foreign Affairs Retno Marsudi noted that the president held about nine bilateral meetings with: the Prime Minister of India; French President; Prime Minister of Canada; Chancellor of Germany; British Prime Minister; Prime Minister of Japan; President of the European Commission; President of the Council of Europe; and the Managing Director of the IMF.

During the bilateral meetings, besides inviting other countries to solve the problems of the food supply chain, president Jokowi also highlighted the preparations for the G20 Summit.

"In these meetings, we can clearly see that support for the Indonesian Presidency is still very strong," Marsudi noted.

In 2022, Germany takes over the G7 Presidency and hosts the 48th G7 summit held on June 26-28, 2022, in Schloss Elmau.

The G7, originally G8, was set up in 1975.

The annual G7 summits have, over the years, developed into a platform for determining the course of multilateral discourse and shaping political responses to global challenges.

Written by: Azis Kurmala, Editor: Fardah Assegaf (c) ANTARA 2022

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

Main Market-Bound Seng Fong Holdings Berhad IPO Shares Oversubscribed by 3.09 Times

KUALA LUMPUR, Jun 29, 2022 – (ACN Newswire) – Tricor Investor & Issuing House Services Sdn Bhd (TIIH) is pleased to announce that the Initial Public Offering (IPO) of Seng Fong Holdings Berhad is oversubscribed by 3.09 times.

Managing Director of Seng Fong, Mr. Er Hock Lai

Group Managing Director/ Chief Executive Officer of Hong Leong Investment Bank, Ms. Lee Jim Leng

Seng Fong's IPO involves the issuance of 160,874,300 IPO Shares in the following manner:

(A) Retail offering of 42,198,000 IPO Shares to be allocated in the following manner:
– 25,948,000 IPO Shares to the Malaysian public; and
– 16,250,000 IPO Shares to the eligible directors and employees of Seng Fong and its subsidiaries (Group) and persons who have contributed to the success of the Group;

(B) Institutional offering of 118,676,300 IPO Shares to be allocated in the following manner:
– 64,870,000 IPO Shares by way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry ("MITI"); and
– 53,806,300 IPO Shares by way of private placement to other institutional and selected investors.

A total of 3,968 applications for 106,046,800 IPO Shares with a value of RM79,535,100 were received from the Malaysian public, which represents an overall oversubscription rate of 3.09 times. For the Bumiputera public portion, a total of 2,097 applications for 31,762,400 IPO Shares were received, which represents an oversubscription rate of 1.45 times. For the remaining Malaysian public portion, a total of 1,871 applications for 74,284,400 IPO Shares were received, which represents an oversubscription rate of 4.73 times.

Meanwhile, the 16,250,000 IPO Shares available to the eligible directors and employees of the Group and persons who have contributed to the success of the Group have also been fully subscribed.

Managing Director of Seng Fong, Mr. Er Hock Lai said, "We would like to thank investors for their response to our IPO as this is an indication of their confidence in the fundamentals of the business. We can now look forward to capture opportunities arising from the increasing demand from existing customers as well as from new customers as we ramp up production through the hiring of more people for a second shift and implementing ESG initiatives to make our business more sustainable."

Group Managing Director/ Chief Executive Officer of Hong Leong Investment Bank, Ms. Lee Jim Leng said: "We are pleased with the reception from investors to Seng Fong's IPO reflecting their confidence in the solid fundamentals of the business and in the leadership as well as vision of the founders and promoters."

Hong Leong Investment Bank Berhad is the Principal Adviser, Underwriter and Placement Agent for the IPO.

The notices of allotment will be posted to all successful applicants on or before 6 July 2022. The company will list on the Main Market of Bursa Malaysia Securities Berhad on 7 July 2022.

Seng Fong Holdings Bhd: http://sengfongholdings.com/

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

HKTDC launches brand-new exhibition model EXHIBITION+

HONG KONG, Jun 28, 2022 – (ACN Newswire) – International trade fairs and sourcing modes have seen dramatic changes in the wake of the COVID-19 pandemic, with the organisers of many physical exhibitions and seminars taking a new digitised or hybrid path. To assist enterprises in adapting to the new normal, and help them stay closely connected to international buyers, the Hong Kong Trade Development Council (HKTDC) is launching the brand-new hybrid exhibition model EXHIBITION+ to strengthen its exhibition platform. Meanwhile, the HKTDC International Sourcing Show runs from 5 to 8 July at the Hong Kong Convention and Exhibition Centre (HKCEC). Exhibitors and buyers at the event will be among the first to enjoy the smart business-matching platform, Click2Match, to actively assist them in seizing business opportunities.

HKTDC Deputy Executive Director Sophia Chong introduced the newly launched exhibition model EXHIBITION+ at a press briefing today, while Zuri Jewelry Company Ltd Director Victor Yiu (L) and Chit Tat Clock & Watch Co Ltd General Manager Philip Lau (R) shared their successful experiences using the Click2Match platform.

The physical HKTDC International Sourcing Show will run at the Hong Kong Convention and Exhibition Centre from 5 to 8 July. Exhibitors and buyers can use the smart business-matching platform, Click2Match, from 5 to 15 July to connect with global buyers. The photo shows the 2021 HKTDC Lifestyle Sourcing Show.

HKTDC Deputy Executive Director Sophia Chong said: "The pandemic has had a tremendous impact on Hong Kong's economy and particularly on small and medium-sized enterprises (SMEs). Amid the ongoing pandemic and geopolitical tensions, many enterprises have sought support from policies and aid packages to help them ride out the storm. From March 2020, the HKTDC adjusted quickly to the new reality, moving its various physical fairs, large-scale seminars and business-matching meetings to online platforms, striving to continue connecting local businesses with international buyers and offering various kinds of support. Now, the Council is launching EXHIBITION+ to help enterprises get better familiarised with digital platforms and capture online-to-offline international opportunities around the clock."

More than 90% of buyers have used online sourcing platforms

According to a recent buyer survey conducted by the HKTDC, which interviewed 600 international buyers from Association of Southeast Asian Nations (ASEAN) countries, Australia, Europe, Mainland China and the United States, most respondents (93%) had used online sourcing platforms, and over 85% had participated in virtual fairs to meet their sourcing needs. The majority of respondents said they would be willing to conduct sourcing through physical fairs (63%) or hybrid fairs (59%) once travel restrictions are lifted. The survey findings revealed that in the future, physical and online-to-offline integrated fairs could complement each other. (Key survey findings are shown in the appendix below.)

EXHIBITION+ reinvents trade fairs to serve businesses anytime, anywhere

EXHIBITION+ comprises four key exhibition elements, including HKTDC-organised physical fairs, the smart business-matching platform Click2Match, online-to-offline seminars under the Intelligence Hub, and the hktdc.com Sourcing platform, to provide round-the-clock services that boost the flexibility and effectiveness of business promotion for SMEs and offer benefits such as extended fair periods, expanded platforms and enhanced opportunities. EXHIBITION+ extends face-to-face interactions from physical exhibitions to an online smart business-matching platform to help enterprises connect with business partners proactively. As always, the HKTDC's 50 global offices will actively recruit international buyers, while its business-matching specialists will match suitable exhibitors according to buyers' sourcing demands, and arrange online and offline meetings to facilitate business cooperation.

Experience a unique business journey

With EXHIBITION+, exhibitors can start displaying their products to buyers on the fair website one month before the physical fair, while buyers can browse for products and shortlist exhibitors. One week before the physical fair, both buyers and exhibitors can actively search for business targets through the Click2Match platform, check out AI-recommended leads and send meeting requests. During the physical fair, they can meet at the fairground or online via Click2Match, while further online meetings can be scheduled and conducted up to one week after the fair. Exhibitors can still receive sourcing enquiries from buyers up to one month after the fair.

Click2Match connects suppliers with global buyers in a click

Smart business-matching platform Click2Match is built on the HKTDC's extensive database to greatly enhance the accuracy of smart matching through AI and big data analytics. Compared to physical exhibitions, where exhibitors typically need to wait for buyers to visit their booths, Click2Match enables them to actively search for suitable buyers and arrange meetings with global buyers. The platform features meeting scheduling, video conferencing, instant messaging, message translation (up to 14 languages), and file-sharing functions to facilitate easy communication between buyers and suppliers.

Fair attendees need just one account to seamlessly connect to the various HKTDC online platforms, allowing them to navigate between fair websites, Click2Match, hktdc.com Sourcing and the HKTDC Marketplace App anytime and anywhere. In addition, a series of online and offline seminars and conferences will be hosted during exhibition periods, helping attendees tap into the latest market trends by attending activities in person or watching via livestreaming or playback.

Some exhibitors were given prior access to use the Click2Match platform in March. One of the exhibitors, Zuri Jewelry Company Ltd Director Victor Yiu, said the platform is very user-friendly. "We can even check buyers' information before the fair and understand their sourcing demands, allowing us to better prepare for meetings and select the right products for buyers," Mr Yiu said. Another exhibitor, Chit Tat Clock & Watch Co Ltd General Manager Philip Lau, said he is using Click2Match to actively search for overseas buyers. "We will keep track of AI-recommended leads, look at their sourcing demands and schedule meetings in advance, hoping to increase the chance of orders being placed."

hktdc.com Sourcing helps explore blue ocean opportunities

As an extension of the physical fairs, hktdc.com Sourcing provides a trusted year-round online promotional platform. In addition to connecting with buyers at physical fairs, exhibitors can also seek out potential buyers in unexplored blue ocean markets, such as those specialising in online sourcing and overseas buyers that are unable to visit fairs. The platform shows exhibitors' profiles, along with a comprehensive overview of their products and services, increasing their exposure to buyers. The HKTDC recently added a "Request for Quotation" (RFQ) service to the platform, collecting sourcing requests from quality and reliable buyers and helping suppliers to seize every opportunity.

Comprehensive support to help SMEs' transformation

To comprehensively facilitate SMEs to upgrade and transform their business, and to help them maintain their competitiveness, the HKTDC offers a series of platforms and services, including the Digital Academy and E-Tailing Academy, providing professional training related to e-commerce and digital business. The Council also collaborates with major technological enterprises to provide cost-effective e-commerce, digital marketing and enterprise resources planning for SMEs.

T-box helps SMEs create business opportunities

Transformation Sandbox (T-box) is a three-month programme initiated by the HKTDC to promote SMEs' business upgrading and transformation, catering to their needs in the areas of branding, e-commerce, manufacturing and supply chain solutions and exploring new markets. The programme provides advisory services, workshops and government-funding information, helping enterprises to navigate trends, enhance techniques and expand their business network. T-box has attracted more than 2,000 SMEs to join since its launch. The HKTDC will step up its efforts to assist Hong Kong's SMEs in further developing overseas markets through a series of activities. These include liaising with Hong Kong business associations around the world and providing training, group consultations and exchanges with trade committees from foreign chambers of commerce or consulates to join HKTDC's overseas events, helping to build commercial connections and arrange business matching.

The HKTDC also strives to support SMEs in exploring business opportunities in other mature or new markets, including continuous support for Hong Kong companies in developing business in the ASEAN bloc and reinforcing the HKTDC's flagship overseas promotional events. For example, the "Think Business, Think Hong Kong" event will be enhanced with online-to-offline promotional platforms, offering a continuous business matching service along with an SME support scheme and various training activities, helping Hong Kong companies to connect with global enterprises and seize business opportunities in a more effective way.

Physical International Sourcing Show runs in parallel with online Click2Match

The upcoming HKTDC International Sourcing Show brings together seven trade fairs, including the HKTDC Hong Kong Electronic Fair (Spring Edition), HKTDC Hong Kong International Lighting Fair (Spring Edition), HKTDC Hong Kong Gifts & Premium Fair, Hong Kong Houseware Fair, HKTDC Hong Kong Fashion Week, HKTDC Hong Kong International Home Textiles & Furnishing Fair, and the Hong Kong International Printing & Packaging Fair, attracting over 1,700 exhibitors from 12 countries and regions with more than 83,000 products. The physical edition will be held from 5 to 8 July in the format of display showcases. Exhibitors and buyers who cannot join due to international travel restrictions can stay connected through Click2Match, the smart business-matching platform of EXHIBITION+, from 5 to 15 July.

Four themed categories display a variety of products

Themed "Smarter Sourcing – Better Living", the International Sourcing Show will highlight a broad range of quality lifestyle products under four main categories, namely Healthy Living, Smart Living, Stylish Living and Sustainable Living. Highlighted products include the TiO2 table lamp, which features 24/7 antibacterial, antivirus, and air purification functions; smart cycling glasses that combine micro-lens, micro-display and thin-film encapsulation Internet of Things (IoT) technologies; and a wireless "lapstation" bag combining wireless charging and workstation, with heat ventilation and water-resistant design.

Seminars share marketing strategies and innovative technology applications

A host of seminars will be held during the show covering hot topics such as digital and social media marketing strategies, testing and qualification services for textiles and shoe production supply chains, the aesthetics of scientific design research, IoT innovation beyond the home, and an introduction to the government's Dedicated Fund on Branding, Upgrading and Domestic Sales (BUD Fund). There will also be networking sessions, assisting enterprises to stay connected and expand business opportunities.

Main survey findings from "B2B Online Sourcing: A Buyer Behaviour Study Towards Recovery"

Buyers who used online sourcing platforms in the past 12 months
– Yes 93%
– No 7%

Buyers who joined virtual fairs in the past 12 months
– Yes 85.5%
– No 14.5%

Buyers' sourcing preferences in post-COVID-19 era
– Physical fairs 63%
– Hybrid fairs 59%
– Virtual fairs 37%
– Online sourcing platforms 21%

2022 International Sourcing Show Details

Date and time (physical fair): 5-7 July (Tue to Thu) 10am-6pm, 8 July (Fri) 10am-5pm
Opening period for Click2Match platform: 5-15 July
Venue (physical fair): Hall 1C, Hong Kong Convention and Exhibition Centre, 1 Expo Drive, Wan Chai, Hong Kong
Exhibition covered:
– Hong Kong Electronics Fair (Spring Edition)
– Hong Kong International Lighting Fair (Spring Edition)
– Hong Kong Gifts & Premium Fair
– Hong Kong Houseware Fair
– Hong Kong Fashion Week
– Hong Kong International Home Textiles and Furnishings Fair
– Hong Kong International Printing & Packaging Fair (co-organised with CIEC Exhibition Company [HK) Limited)
International Sourcing Show website: https://isshow.hktdc.com/

Related website
– hktdc.com Sourcing: https://sourcing.hktdc.com/
– HKTDC Media Room: http://mediaroom.hktdc.com/
– Photo download: https://bit.ly/3HYyQUN

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:
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
Agnes Wat, Tel: +852 2584 4554, Email: agnes.ky.wat@hktdc.org

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

Leon Fuat Berhad Shareholders Vote to Pass All Resolutions at AGM

SHAH ALAM, Malaysia, Jun 28, 2022 – (ACN Newswire) – Leon Fuat Berhad, a manufacturer and trader of steel products, specialising in rolled long and flat steel products, is pleased to announce that shareholders have passed all resolutions at the Group's 15th AGM held today.

Mr. Calvin Ooi Shang How, Executive Director of Leon Fuat

Shareholders passed a resolution approving a final single tier dividend of 2.0 sen per share for the financial year ended 31 December 2021 (FY2021).

Shareholders also voted to re-elect Dato' Sri Ooi Bin Keong, Mr. Tan Did Heng, Mr. Tan Sack Sen and Dato Lim Cheng Poh as directors as well as to retain Mr. Chan Kee Loin as an independent director. Also retained as independent directors were Did Heng and Sack Sen.

Among the other resolutions up for voting, shareholders reappointed Baker Tilly Monteiro Heng PLT as the Group's auditors and authorised the directors to fix the remuneration of the auditors.

Mr. Calvin Ooi Shang How, Executive Director of Leon Fuat said, "We are happy to meet our shareholders again in a physical setting for the 15th AGM after having held the previous AGM virtually. We would like to thank shareholders for their trust and confidence in us as we navigated a challenging FY2021. Our financial performance for the first quarter ended 31 March 2022 was satisfactory despite the decrease in overall gross profit margin."

"We are cautiously optimistic of achieving profitable results for the remaining quarters of FY2022 but would like to point out that the outlook has dimmed considerably with the World Bank having cut global economic growth outlook to 2.9% for this year from the 4.1% growth outlook it had forecast in January 2022. To mitigate risks, the Group will continue to monitor steel prices closely as well as related foreign currencies. We will also take proactive measures such as anticipating price and currency volatility through negotiating forward contracts as well as prudent inventory management."

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

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

32nd annual Hong Kong Book Fair returns on 20 July

HONG KONG, Jun 24, 2022 – (ACN Newswire) – The 32nd HKTDC Hong Kong Book Fair, organised by the Hong Kong Trade Development Council (HKTDC), will run from 20 to 26 July (Wednesday to Tuesday) at the Hong Kong Convention and Exhibition Centre (HKCEC). Tickets will open for sale on 27 June while online registration for seminars opens today (24 June), offering a wide range of stimulating and thought-provoking events for Hong Kong's booklovers.

The 32nd annual HKTDC Hong Kong Book Fair returns on 20 July. The theme of this year's fair is "History and City Literature", with the tagline "Reading the World: Stories of Hong Kong". The HKTDC will introduce celebrated authors and their outstanding works to Hong Kong's booklovers, sharing the joy of reading with the public. The picture shows scenes from last year's Book Fair.

As one of the celebration events for the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, the HKTDC has invited renowned authors to host and participate in seminars and cultural events. The Book Fair will run in parallel with the 5th HKTDC Hong Kong Sports and Leisure Expo and 2nd HKTDC World of Snacks, giving visitors the chance to enjoy three very different experiences with a single ticket.

Theme of the year: "History and City Literature"

The theme of this year's Book Fair is "History and City Literature", with the tagline "Reading the World: Stories of Hong Kong". The HKTDC will introduce celebrated authors and their outstanding works to booklovers, giving them a deeper understanding of Hong Kong's historical and cultural development and promoting the joy of reading among the public. Thematic exhibitions titled "History Writers" and "City Literature" will be featured at the Art Gallery, allowing visitors to savour Hong Kong's unique story through literature and arts. Two other exhibitions, "Tastes of Hong Kong" and "Hong Kong Architecture", will offer different perspectives on the city's lifestyle and culture through collections and artworks.

The "Eight Seminar Series" is one of the highlights at the Book Fair. This year's topics include "Stories of Hong Kong", "Renowned Writers", "English and International Reading", "World of Knowledge", "Children and Youth Reading", "Lifestyle", "Hong Kong Cultural and Historical", and "Personal Development and Spiritual Growth". Meanwhile, the always popular "Storytelling by Celebrities" series will invite star speakers to share inspirational stories with children.

Diverse experiences at Sports and Leisure Expo and World of Snacks

This year's Hong Kong Sports and Leisure Expo will cover eight thematic zones and bring together a wide range of sports and leisure brands, products and experiences, along with a number of free trials for visitors to enjoy. World of Snacks, meanwhile, features six thematic zones and will offer more than 1,000 tasty treats from across the globe, including Japan, Taiwan, South Korea, Germany, Australia, Greece and Spain.

Online registration for the Book Fair's seminars opens today and is free of charge on a first-come-first-served basis. Please visit www.hkbookfair.com to reserve a spot. Tickets for the fair will open for sale on 27 June – find more details in the appendix below.

The HKTDC's Cultural Salon Press Conference will be held in early July to provide more information on the Book Fair, Hong Kong Sports and Leisure Expo and World of Snacks. Details of the Art Gallery thematic exhibitions will be provided with the author line-up for the "Eight Seminar Series" and other cultural activities. Featured events and activities from the Hong Kong Sports and Leisure Expo and World of Snacks will also be covered. Meanwhile, the HKTDC Education & Career Expo will run alongside the three events from 21 to 24 July. Details will be announced in due course.

Hong Kong Book Fair, Hong Kong Sports and Leisure Expo and World of Snacks
* See https://mediaroom.hktdc.com/en/pressrelease/detail/20358/

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

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

Hong Kong Book Fair

HKTDC's Communications & Public Affairs Department:
Clementine Cheung, Tel: +852 2584 4514, Email: clementine.hm.cheung@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org

Yuan Tung Financial Relations:
Agnes Yiu, Tel: +852 3428 5690, Email: ayiu@yuantung.com.hk
Hing-Fung Wong, Tel: +852 3428 3122, Email: hfwong@yuantung.com.hk

Hong Kong Sports and Leisure Expo, World of Snacks

HKTDC's Communications & Public Affairs Department:
Frankie Leung, Tel: +852 2584 4298, Email: frankie.cy.leung@hktdc.org

Yuan Tung Financial Relations:
Tiffany Leung, Tel: +852 3428 2361, Email: tleung@yuantung.com.hk

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

Malaysian Genomics Resource Centre to Offer Pioneering Holistic Renal Care via New Venture

PETALING JAYA, Malaysia, Jun 23, 2022 – (ACN Newswire) – Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, announced today that the Group is acquiring a 51% stake in Aquahealth Sdn Bhd, a kidney dialysis operator, from Rinani Renal Berhad.

En. Sasha Nordin, Chief Executive Officer of Malaysian Genomics

Aquahealth is establishing a kidney dialysis centre in Gombak, Selangor, with the license to operate the centre owned by the Malaysia International Islamic Chamber of Commerce. With the acquisition of the stake, Malaysian Genomics, through its wholly-owned subsidiary, MGRC Healthcare Sdn Bhd, will now become the operator of the dialysis centre.

En. Sasha Nordin, Chief Executive Officer of Malaysian Genomics, said, "This will be the first of many centres across the country that will be driven by a personalised kidney care model integrating dialysis with nutrition management, lifestyle changes, and even genetic testing of patients and their immediate family members. This pioneering approach will focus on bringing innovations in service delivery to improve the lives of patients with chronic kidney disease."

"Expanding downstream to healthcare services, through our subsidiary MGRC Healthcare, is an important step in Malaysian Genomics' growth as a diversified specialist healthcare group. The acquisition of the Aquahealth stake is part of our Group's strategy to secure a diverse portfolio of earnings accretive assets across Southeast Asia that will, in turn, leverage and benefit from our genomics and biopharmaceutical knowledge and experience developed over the past 18 years."

According to the Ministry of Health's Management of Chronic Kidney Disease report, the number of Malaysians with kidney disease is projected to increase significantly in the future mainly due to the prevalence of diabetes, hypertension and an aging population[1]. At 13.2% per year, Malaysia has the second highest annual growth rate of chronic kidney disease in the world[2].

Dato' Dr. Suhaini Kadiman, Chairman of Malaysia International Islamic Chamber of Commerce and Director of Clinical Research at Institute Jantung Negara added, "Thousands of kidney patients are on waiting lists for dialysis treatment and new centres are urgently needed. We welcome MGRC Healthcare's interest to collaborate with us to operate the centre in Gombak, and we look forward to the innovations they will contribute to improve the lives of kidney dialysis patients."

Recently, Minister of Health YB Tuan Khairy Jamaluddin noted that there were over 40,000 kidney patients in Malaysia, with over 8,000 new patients diagnosed annually since 2018[3].

[1] https://tinyurl.com/42jexjsk
[2] https://tinyurl.com/2cmkmzkz
[3] https://tinyurl.com/mr3mkfmk

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

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