Director-General of Investment Promotion visits Middle East and Europe to promote Hong Kong’s long-term business opportunities

HONG KONG, May 29, 2022 – (ACN Newswire) – The Director-General of Investment Promotion, Mr Stephen Phillips, today (May 29) started his duty visit to Doha, Abu Dhabi, Dubai and Kuwait in the Middle East, and Amsterdam, Lisbon and Madrid in Europe as part of the latest efforts of Invest Hong Kong (InvestHK) to promote Hong Kong's business attractions.

Mr Stephen Phillips

During the visit, Mr Phillips will meet with business leaders from various sectors including innovation and technology, financial services and family offices, fintech, business and professional services, tourism and hospitality, and transport, infrastructure and advanced manufacturing. He will also speak at three events in Abu Dhabi, Lisbon and Madrid, giving updates on Hong Kong's latest business environment and opportunities, highlighting the city's strategic role in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

Mr Phillips said, "Hong Kong is an ideal location for overseas and Mainland companies, as well as entrepreneurs from around the world, as a base to set up or expand their business in Hong Kong, the GBA, China, and Asia more widely. The facts speak for themselves: in two surveys conducted last year, we saw a record number of businesses from overseas and the Mainland come to Hong Kong, as well as the largest number of start-ups in Hong Kong."

He added, "Hong Kong offers to companies a wide range of routes to growth opportunities. I look forward to sharing with representatives of companies and entrepreneurs the up-to-date and real situation in Hong Kong, and particularly how they can use Hong Kong to seize opportunities, including those arising from the GBA."

About InvestHK

InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies. For more information, please visit www.investhk.gov.hk.

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

Hong Kong Investment Promotion Chief visits Middle East and Europe to promote Hong Kong’s long-term business opportunities

HONG KONG, May 29, 2022 – (ACN Newswire) – The Director-General of Investment Promotion of the Hong Kong Special Administrative Region, Mr Stephen Phillips, today (May 29) started his duty visit to Doha, Abu Dhabi, Dubai and Kuwait in the Middle East, and Amsterdam, Lisbon and Madrid in Europe as part of the latest efforts of Invest Hong Kong (InvestHK) to promote Hong Kong's business attractions.

Mr Stephen Phillips

Hong Kong ‘ideal listing destination’ for ASEAN companies

HONG KONG, May 27, 2022 – (ACN Newswire) – Hong Kong has been named as an ideal overseas listing destination for Association of Southeast Asian Nations (ASEAN) companies in a research report^ prepared by the Hong Kong Trade Development Council (HKTDC) in collaboration with CCB International (CCBI).

Hong Kong is an ideal overseas listing destination for companies in the ASEAN region, according to a research report prepared by the Hong Kong Trade Development Council (HKTDC) in collaboration with CCB International (CCBI).

HKTDC Director of Research Irina Fan said: "With the Regional Comprehensive Economic Partnership (RCEP) free trade agreement coming into effect on 1 January 2022, closer regional economic integration will foster funding needs for projects across Asia, particularly with regard to ASEAN companies' projects in Mainland China and vice versa. Hong Kong is ideally positioned to serve as a platform to satisfy two-way funding needs."

Simon Lee, Head of Corporate Finance & Capital Market Services of CCB International, said: "This is a highly informative and well-researched paper for any executive of an ASEAN company seriously considering fundraising via an overseas listing, and in which the insights of many stakeholders in the region are shared. Hong Kong stands out as the top choice for the listing of ASEAN companies seeking overseas funding."

Most popular overseas listing destination for ASEAN companies

There are already more than 80 ASEAN-headquartered companies listed on the Hong Kong Stock Exchange – the highest tally for a non-ASEAN stock market. These listed ASEAN companies represent a variety of sectors covering consumer discretionary, property and construction, information technology and industrial businesses with a total market capitalisation at US$15.3 billion. This indicates that Hong Kong is the most popular overseas listing destination for ASEAN companies, representing a wide variety of enterprises in terms of sector and size.

The research report highlights that Hong Kong's attractiveness to ASEAN companies is due to a range of factors including good market breadth and depth, efficiency and flexibility in funding overseas investment, access to more diversified financial and strategic investor pools, its position as a doorstep to expansion in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and Mainland China, strong governance, and the convenience provided by it being in a similar time zone to ASEAN countries.

Strengthening promotion in ASEAN countries

To facilitate ASEAN companies' needs and enhance Hong Kong's position as an overseas listing hub for these enterprises, Ms Fan highlighted some of the key recommendations proposed by survey interviewees. "Hong Kong should step up its promotion in ASEAN countries to raise companies' awareness. Indeed, it is clear that some ASEAN companies need to be more informed about the latest developments relating to Hong Kong's listing regime and policies," she said.

HK well positioned for ASEAN companies in prevailing and emerging sectors

Survey interviewees highlighted that in addition to prevailing sectors in ASEAN such as consumer goods and services, mining and commodities and real estate investment trusts (REITs), fast-growing sectors including biotech, high-tech enterprises and fintech are showing good potential, while environmental, social and governance (ESG) is becoming an increasingly important factor across Southeast Asia. Interviewees suggested that Hong Kong can further reinforce its position as a listing destination for both prevailing and emerging sectors in ASEAN by streamlining its processes for overseas listing and the new special-purpose acquisition company (SPAC) regime, in addition to providing listing incentives for REITs. Hong Kong is also in a strong position to respond to the growing need for ESG funding in the ASEAN bloc.

Closer collaboration with ASEAN exchanges to promote dual primary/secondary listing

Hong Kong can also enhance collaboration with ASEAN exchanges to promote dual primary/secondary listing in Hong Kong. "Hong Kong is the gateway between ASEAN countries and Mainland China. By working with ASEAN stock exchanges to facilitate the dual or secondary listing of ASEAN companies in Hong Kong, all parties would be better positioned to capture the growing opportunities," Ms Fan added.

Hong Kong as preferred listing destination for Malaysian companies

The report also gave insights into overseas listings by Malaysian enterprises. The Hong Kong Stock Exchange has the largest number of listed Malaysian companies among key stock exchanges outside ASEAN, and Hong Kong is well perceived by Malaysian companies as an important gateway for expanding into Mainland China. Leveraging Malaysia's economic growth and further economic integration in the region, Malaysia's fast-growing IT sector and growth companies could be potential candidates for listing on the Hong Kong Stock Exchange through the new SPAC route.

^ The report is based on desktop research and interviews conducted by the HKTDC from September 2021 to January 2022. Interviewees included senior executives/members of listed companies, chambers of commerce, professional organisations, legal practitioners, accountants and investment bankers. Interviewees were asked to share their insights on Hong Kong's strengths as a listing destination for ASEAN companies, some of the hurdles ASEAN companies are facing, as well as recommendations to strengthen Hong Kong's position as a listing hub. The first research report in this series focuses on the overall overseas listing regime of Hong Kong as well as Hong Kong as a listing destination for Malaysian companies, while two subsequent reports on Thai and Indonesian companies listing in Hong Kong will be released later this year. Disclaimer https://tinyurl.com/HKTDC-Disclaimer

References
– HKTDC Research Portal: https://research.hktdc.com/en
– "Hong Kong as a Listing Destination for ASEAN Companies": https://bit.ly/3ajmAkV
– Photo download: https://bit.ly/3MsV1UI

Media enquiries
Please contact the HKTDC's Communication and Public Affairs Department:
Snowy Chan, Tel: +852 2584 4525, Email: snowy.sn.chan@hktdc.org

Please contact CCBI's Corporate Finance & Capital Market Services:
Sam Siu, Tel: +852 3911 8926, Email: samsiu@ccbintl.com

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

About CCBI

CCB International (Holdings) Limited and its subsidiaries (collectively "CCB International") is a financial and investment services company owned by China Construction Bank Corporation ("CCB"). CCB International is committed to expanding its international platform. Backed by the CCB global network, its business covers key financial centres worldwide including Mainland China, Hong Kong, Singapore and London. CCB International offers a full range of products and services including sponsoring and underwriting, financial advisory, corporate mergers and acquisitions, restructuring, additional issuance and placement of shares, refinancing for listed companies, direct investment, asset management, securities brokerage, market research, investment consultancy, futures and commodities business. The corporate finance and capital market services of CCB International have raised almost HKD5 trillion from the global equity market for hundreds of companies. For more information, please visit: http://www.ccbintl.com/English.html.

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

GPDRR: Indonesia offers sustainable resilience to tackle disaster risk

Nusa Dua, Bali, May 27, 2022 – (ACN Newswire) – At the 2022 Global Platform for Disaster Risk Reduction (GPDRR) event, the Government of Indonesia offered the world the concept of sustainable resilience as a solution to address the challenges of systemic disaster risk.

President Joko Widodo (R) discusses with UN Deputy Secretary-General Amina Mohammed (L) before the opening ceremony of the Global Platform for Disaster Risk Reduction 2022 in Nusa Dua, Bali, Wednesday. (ANTARA FOTO/Akbar Nugroho Gumay/foc)

Indonesian President Joko Widodo highlighted this concept at the opening ceremony of the 2022 GPDRR in Nusa Dua, here, on Wednesday.

The sustainable resilience concept is considered to be a solution to tackle all forms of disasters, including facing a pandemic and concurrently supporting the implementation of the Sustainable Development Goals (SDGs), Jokowi remarked.

He highlighted the need to apply several measures to build sustainable resilience.

"First, we should strengthen an anticipatory, responsive, and adaptive disaster preparedness culture as well as institutions in dealing with disasters," President Jokowi stated.

According to the president, disaster mitigation education and government institutions that are synergistic and responsive to disasters must become a shared priority.

Jokowi explained that the second measure deemed necessary is for every country to invest in science, innovation, and technology, including in ensuring access to finance and technology transfer.

"Access to funding is an important issue that we must take seriously. Indonesia has developed a strategy for funding and disaster insurance by establishing a pooling fund and using development funds at local levels to support disaster mitigation and preparedness," he stated.

The third measure is by building infrastructure that is resilient to disasters and climate change.

"(This is) in addition to mitigating (the impacts on) physical infrastructure, such as dams, breakwaters, reservoirs, and embankments; green infrastructure, such as mangrove forests, shrimp seedlings on the coast; … as well as the development of open spaces to be part of the realization of infrastructure development," Jokowi pointed out.

"The protection of vulnerable groups living in high disaster risk areas must also get special attention," he stressed.

Lastly, the Indonesian president invited all countries to commit to implementing global agreements at the national and local levels.

"The Sendai Framework, the Paris Agreement, and the SDGs are important international agreements in the efforts to reduce disaster risk and climate change. I invite all countries to be committed and serious about implementing it," Jokowi stated.

He affirmed that disaster risk reduction is an effective investment to prevent future losses.

"To that end, we affirm Indonesia's commitment to implementing the Sendai Framework as well as other international commitments," he stressed.

The head of state also expressed Indonesia's readiness to share experiences and knowledge in disaster mitigation.

"As a disaster-prone country, Indonesia has accumulated knowledge and experience that can be an important lesson for the world, but Indonesia is also eager to learn from international experience," Jokowo emphasized.

"Let's work together to mitigate (impacts and manage risks with regard to) the rise in disasters for a better life today and tomorrow," he concluded.

Appreciation

On the occasion, several United Nations (UN) officials — President of the 76th Session of the UN General Assembly Abdulla Shahid, UN Deputy Secretary General Amina Mohammed, and Special Representative of the UN Secretary General for Disaster Risk Reduction Mami Mizutori — lauded Indonesia for being successful in controlling COVID-19, so that the 2022 GPDRR forum could be held in-person in Nusa Dua, Bali.

"I would like to convey the appreciation of the UN to the president of Indonesia and the people for hosting the 2022 GPDRR," Mohammed stated at the opening ceremony.

"I would like to congratulate and appreciate Indonesia for the measures that have been taken to address COVID (as a) response that had allowed us to meet in this conference here in-person," she stated.

According to the UN deputy secretary general, Indonesia's efforts to vaccinate its population of 217 million people is a major achievement.

"We applaud the leader of Indonesia for its vaccine program for keeping everyone safe and reacting and responding to the COVID pandemic," she stated.

She also affirmed that Indonesia is a critical partner that has taught the world a lot about disaster risk reduction.

"Your willingness to host this important gathering is a testament to the leading role that you (Indonesia) play in sustaining development and climate action," she remarked.

Meanwhile, the United Nations Office for Disaster Risk Reduction (UNDRR) Director Ricardo Mena lauded Indonesia as a country that is leading in the global efforts for disaster risk reduction.

"This is a very important (effort), and I think this is where we think that Indonesia is leading in terms of the global efforts to reduce disaster risks," Ricardo Mena stated in a special interview with ANTARA here on Monday (May 23).

Mena remarked that Indonesia has put forth a strong message about the importance of disaster risk reduction efforts by hosting the 2022 GPDRR.

"We believe that Indonesia is giving a very strong message through the engagement and hosting of the GPDRR here in Bali. We are very thankful to the Indonesian Government for that," he remarked.

The UNDRR director also highlighted Indonesia's leadership in adopting the long-term disaster risk reduction plan.

"I think what I would like to highlight is that Indonesia is one of the few countries in the world that has adopted a very long term plan to reduce disaster risks," he remarked.

"This is very important because if you want to really address the root causes, and you cannot do it in two, three, or five years. It is impossible, and we look and welcome very much the fact that Indonesia has a plan to reduce disaster risks that goes even beyond 2040," he added.

To that end, Mena also encouraged other countries to follow Indonesia's steps in adopting long-term plans for disaster risk reduction.

Indonesia hosts a series of meetings of the 7th Session of the Global Platform for Disaster Risk Reduction (GP2022) in Bali on May 23-28, 2022.

Written by: Yuni Arisandy Sinaga, Editor: Fardah Assegaf (c) ANTARA 2022

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

Samaiden Group Berhad’s 3Q Net Profit Gains 291% to RM4.19 Million

PETALING JAYA, Malaysia, May 26, 2022 – (ACN Newswire) – Samaiden Group Berhad, a renewable energy (RE) specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power plants, today announced that Samaiden Group recorded a 385.03% increase in revenue to RM43.80 million for the third quarter ended 31 March 2022 (3Q FY2022) compared with RM9.03 million registered in the corresponding quarter of FY2021 (3Q FY2021).

Ms. Chow Pui Hee, Group MD of Samaiden

Profit before tax (PBT) for 3Q FY2022 increased by 257.68% to RM5.73 million compared with RM1.60 million achieved in 3Q FY2021, and profit after tax (PAT) registered an increase by 291.22% to RM4.19 million compared with RM1.07 million in 3Q FY2021.

For the nine-month period ended 31 March 2022 (9M FY2022), Samaiden Group recorded a 243.07% increase in revenue to RM97.04 million compared with RM28.28 million in the corresponding period of FY2021 (9M FY2021) while PBT gained 103.38% to RM11.62 million compared with RM5.71 million in the corresponding period of the previous financial year.

Samaiden Group's PAT gained 104.22% to RM8.51 million in 9M FY2022 compared with RM4.16 million in 9M FY2021.

Group Managing Director of Samaiden, Ir. Ms. Chow Pui Hee said, "We continue to see lots of interest in RE given the government's push to reduce carbon dioxide emissions under the fourth cycle of the Large-Scale Solar programme (LSS4). This has been encouraging for us in terms of our financial performance as we have secured approximately RM300.0 million in EPCC contracts under the fourth cycle LSS scheme, Net Energy Metering and Self Consumption scheme since the start of FY2022. The new contract wins bring the current outstanding orderbook to RM410.0 million, which will contribute positively to Samaiden Group's top and bottom line over the next three years."

"Apart from leveraging our core competency and experience in providing end-to-end EPCC services for solar PV projects, we are expanding sales and technical support locally and in Vietnam. We have also diversified into providing EPCC services for biomass RE power plants and we are in the midst of developing a 1.2 MW biogas power plant in Kelantan that will provide Samaiden Group with a recurring income stream from the sale of electricity produced by the power plant to the state's power grid."

"We are cautiously optimistic that Samaiden Group's financial performance for the rest of FY2022 will be satisfactory as the pipeline of RE projects will increase due to the government's drive for more environmentally friendly and greener sources of energy."

Samaiden Group Berhad: https://samaiden.com.my/

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

Genetec Scales New Heights with Highest Annual Profit to Date

BANGI, Malaysia, May 26, 2022 – (ACN Newswire) – Technology leader in providing fully customised, intelligent manufacturing automation solutions, Genetec Technology Berhad announced its best annual performance to date for the financial year ended 31 March 2022 (FY2022). The Company recorded RM58.1 million profit after tax (PAT) up 1,420.5% from a loss of RM4.4 million in the preceding year. Annual revenue stood at an all-time high at RM223.6 million, up by 130.3% versus RM97.1 million for the period, driven by the electric vehicle (EV) and energy storage segments. Correspondingly, earnings per share (EPS) stood at 7.90 sen for the period, up by 1,395.1% from -0.61 sen.

For the fourth quarter year ended 31 March 2022 (Q4FY2022), Genetec's PAT stood at RM14.0 million, an increase of 333.3% compared to the loss of RM6.0 million in the corresponding quarter for FY2021 (Q4FY2021). Quarter on quarter (QoQ) revenue stood at RM58.7 million, up by 348.1% versus RM13.1 million for the corresponding quarter.

In comparison with the preceding quarter, Genetec's Q4FY2022 PAT came in lower by 28.6% compared to RM19.6 million posted in the preceding quarter due to the shorter operating period. The Company continued to maintain a high level of discipline in cost management to moderate the effects of the shorter quarter. Revenue for Q4FY2022 stood at RM58.7 million, a decrease of 10.1% compared to RM65.3 million of the preceding quarter.

Genetec also announced the approval to proceed with a property acquisition from Utusan Melayu Malaysia Berhad (UMMB) in Bandar Baru Bangi. The said property comprises a parcel of land of 6.348 hectares or 683,293 square feet (sq ft), and buildings within the said area with a total gross floor area of 301,509 sq ft and will be purchased at RM53 million.

Genetec said, "Through this acquisition, we aim to consolidate most of our design and development, machining centers and machine assembly in Bandar Baru Bangi to increase further capacity to cater for future demand.

On the overall, the Electric vehicle (EV) and energy storage segments remained dominant contributors to Genetec's overall revenues with expectations for said segments to grow further in the coming quarters. Genetec commented, "Sales of electric cars worldwide hit 6.6 million in 2021, almost doubling from the previous year. For context, in 2012, only 120,000 electric cars were sold. Today, the same number is sold every week[1]. Due to the population growth and increase in affluence, there is a shift to the current technology driven by the global adoption of renewable energy solutions. Most recently, the European Union ("EU") announced plans to increase efforts in solar and wind power to hasten the region's shift to green energy. To achieve this, the EU's proposal is to allocate EUR210bn (RM987 billion) over the next five years to phase out fossil fuels such that 45% of their energy mix should come from renewables by 2030. This is an advance on the current 40% target suggested less than a year ago[2] and reinforces the seriousness of the move towards electric and renewables. It also amplifies the urgency of the need for more focus and resource allocation to these segments."

On their part, Genetec is also ramping up their team strength. In 2021, the Company increased their staff strength by 100 to support the increased workload and job orders. "Our investments have always been in Malaysia. Likewise, all our staff are local. We believe in hiring and training local talent and this is evident in our staff force. From our founding members, senior leadership, to staff, most of our staff joined us fresh out of university or technical school and have risen within the ranks to manager and senior managerial levels. The staff stability is crucial to ensure continuity and to provide assurance to our clients that we have the right people and experience to consistently deliver quality products and service."

Genetec concluded, "It has been an eventful, challenging but rewarding year with many new developments and milestones. Genetec has been working hard to ensure we deliver on our orders in a timely manner, especially given the ongoing geopolitical and economic headwinds. We are also working closely with our clients to ensure we remain a key and important partner in supplying their automation solutions. We are also sharpening our focus on managing our supply chain operations, from planning and demand forecasting, sourcing, materials management to logistics. Working closely with our suppliers is critical to mitigate possible supply-chain disruptions or delivery challenges that will affect our ability to deliver our orders in a timely manner."

"In the meantime, we remain optimistic that our efforts to deepen our client's share-of-pocket will yield results in the coming quarters. Our pipeline remains robust, backed by the accelerating demand for EVs across major markets worldwide. Moving forward, Genetec remains focused on growing our workforce and deepening their knowledge and skillsets, especially in EV and energy storage. We are also building on our capacity to be able to take on new orders and projects from existing and new customers. We are committed to growing sustainably whilst developing new growth pathways for local talent to contribute to the progress of the local automation technology segment in Malaysia."

[1] Source: World Economic Forum – More electric cars are now sold every week than in the whole of 2012
[2] Source: EU plans 'massive' increase in green energy to help end reliance on Russia

Genetec Technology Berhad: https://genetec.net/

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

Seng Fong Holdings Berhad Signs Underwriting Agreement with Hong Leong Investment Bank

KUALA LUMPUR, May 26, 2022 – (ACN Newswire) – Seng Fong Holdings Berhad, a rubber processor producing and trading Standard Malaysia Rubber (SMR) and premium grade block rubber, is pleased to announce that the Company has entered into an underwriting agreement with Hong Leong Investment Bank Berhad (HLIB) for its upcoming initial public offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.

Group Managing Director/Chief Executive Officer of HLIB, Ms. Lee Jim Leng; and Managing Director of Seng Fong, Mr. Er Hock Lai [L-R]

According to Seng Fong's draft prospectus posted on the Securities Commission Malaysia website, the listing exercise involves the IPO of up to 160.87 million ordinary shares or up to 31.0% of the Company's enlarged number of issued shares comprising a public issue of 90.81 million shares and an offer for sale of up to 70.06 million shares.

Under the agreement, HLIB will underwrite 42.20 million IPO shares made available for application under the retail offering. HLIB is also the Placement Agent for 118.68 million IPO shares allocated to bumiputera investors approved by the Ministry of International Trade and Industry (MITI) as well as other institutional and selected investors.

Managing Director of Seng Fong, Mr. Er Hock Lai said, "We look forward to working with HLIB on our IPO, which we see as crucial for our future growth as the funds raised through the listing exercise will be used for expansion plans. Our plans include the installation of two solar system units to generate electricity in line with the Company's ESG initiatives to reduce carbon footprint and have more sustainable business operations which will result in savings of approximately RM2.6 million per annum to our Group's cost of sales."

"We will also be installing a biomass system to reduce diesel consumption used to generate fuel for our dryer system. This initiative will also help achieve savings of RM3.5 million per year and further our ESG initiatives by making the business more sustainable over the longer term. In addition, we are also planning to increase the total annual capacity of our factories to approximately 166,000 MTS by year 2023 from current total capacity of 142,000 MTS."

Group Managing Director/Chief Executive Officer of HLIB, Ms. Lee Jim Leng said, "We are pleased to have played a key role in assisting Seng Fong in this IPO exercise. The Company has a solid reputation and a history dating back to 1986. Rubber is a key material in many industries and in particular, the automobile industry where there is steady demand".

"We have no doubt that Seng Fong will continue to excel and to build upon the foundations set down almost four decades ago. The listing is an effective platform for the Company to move into the next stage of growth".

Almost all of Seng Fong's revenue is derived from sales to international customers for FYE2019 to FYE2021.

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

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

Hektar REIT’s NPI Goes up by 17.8% in 1Q 2022

KUALA LUMPUR, May 23, 2022 – (ACN Newswire) – Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (Hektar REIT), today announced the first quarter results ended 31 March 2022 (1Q 2022). Hektar REIT recorded revenue of RM29.11 million, an increase of 8.7% compared to the RM26.78 million recorded in the corresponding quarter of the previous year. The higher revenue is attributed to the increase in rental income, car park income and higher hotel occupancy, consistent with other retail and hospitality REITs. The overall retail sentiment for this quarter remained positive as it was supported by the increase in retail sales due to the pent-up demand from last quarter. Hektar REIT's net property income increased 17.9% to RM16.62 million compared with RM14.09 million recorded in 1Q 2021, while realised income for the quarter under review gained 110.7% to RM13.74 million compared with RM5.52 million in 1Q 2021. Earnings per unit rose by 106.6% to 2.92 sen for 1Q 2022 compared with 1.41 sen for 1Q 2021.

Subang Parade

Despite the dynamic & challenging environment, the Manager was able to bring in new tenants and secure the existing tenancies. Hektar REIT's overall portfolio occupancy rate has remained steady at 84.8% in the quarter under review. Anchor support for Hektar's malls remains positive as Golden Screen Cinemas (GSC) , our anchor tenant at Subang Parade, Central Square and Kulim Central, has started operating their business. The commitment by such an anchor tenant is a testament to the confidence in the long-term prospects of the malls. Hektar REIT is cautiously optimistic that there will be a gradual recovery as the country transitions into an endemic phase with the lifting of restrictions and reopening of the international borders.

Retail Group Malaysia (RGM) also expects the retail industry to recover in 2022 after posting a 26.5% growth rate year-on-year in 4Q 2021, which was above market expectations. RGM anticipates retail sales to grow by 6.3% in 2022. The Manager will maintain a cautious outlook for the coming quarters & continue monitoring the evolving situation and remain focused on ensuring the safety & well-being of our shoppers, tenants, employees and communities at all its properties.

Due to the prolonged COVID-19 pandemic & implementation of lockdowns in 2020 and 2021, the retailers are still in the early stages of recovery. Therefore, despite the improved performance of Hektar REIT, the Manager has decided to adopt a prudent approach by moving from quarterly to semi-annual income distribution as part of its long-term strategy to enhance the REIT's capital management. Moving forward, subject to the financial performance of the REIT, the Manager intends to make distributions to the unitholders of Hektar REIT on a semi-annual basis for each six-month period ending 30 June and 31 December each year, unless otherwise determined and/or varied by the Manager at its sole discretion. However, the Manager remains committed to distribute at least 90% of Hektar REIT's distributable income for the financial year ending 31 December 2022.

Hektar REIT remains committed to fulfill its obligation to ensure that business activities are performed to high standards of Environmental, Social and Governance (ESG). Various energy utilisation and optimisation initiatives since 2017 have been put in place for all of its shopping malls, resulting in a significant reduction in greenhouse gas emissions (recorded as CO2e) and energy usage over the last five years. Despite the pandemic, reducing the environmental footprint of our assets and operations remain a top priority. Our Waste Management initiatives have helped to reduce Waste Disposal by 156 tonnes or 22% compared to the same quarter in the preceding year. Hektar REIT is a constituent member of the FTSE4Good Bursa Malaysia Index and in its latest December 2021 evaluation, its ESG conduct has been recognised with a 3-star ESG rating by FTSE Russell.

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

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

Malaysian Genomics Resource Centre Berhad Posts 212% Increase in Revenue for 3Q FY2022

PETALING JAYA, Malaysia, May 23, 2022 – (ACN Newswire) – Malaysian Genomics Resource Centre Berhad, a leading genomics and biopharmaceutical specialist, today announced that the Group registered a 211.66% increase in revenue to RM5.08 million for the third quarter ended 31 March 2022 (3Q 2022) compared with revenue of RM1.63 million for the same quarter of the previous financial year.

Azri Azerai, Executive Director of Malaysian Genomics Resource Centre Berhad

For the quarter under review, the Group posted profit before tax (PBT) of RM1.96 million compared with PBT of RM0.2 million in 3Q 2021. Earnings per share (EPS) stood at 1.60 sen for 3Q 2022 compared with EPS of 0.19 sen in the corresponding quarter of the previous financial year.

For the nine months ended 31 March 2022 (9M FY2022), Malaysian Genomics registered a nearly 12-fold increase in revenue to RM22.03 million compared with RM1.85 million in 9M FY2021. The Group registered RM3.21 million in PBT for 9M FY2022 compared with a loss before tax of RM2.2 million in the corresponding period of the preceding financial year.

Encik Noor Azri bin Dato' Sri Noor Azerai (Azri Azerai), Executive Director of Malaysian Genomics, said, "The improvement in revenue for the quarter under review was due to the Group's diversification into biopharmaceutical services, primarily the distribution of immunotherapy and cell therapies, together with higher demand for genetic screening services following the reopening of the economy. COVID-19 vaccine administration and distribution contributed to our revenue growth as well."

"Our PBT was supported by higher margin from the Group's successful and ongoing penetration into the distribution of immunotherapy and cell therapies. We continue to seek partnerships and opportunities in which we can have a wider market reach for our services, while our laboratory's Current Good Manufacturing Practice approval will add value to our capabilities, including the production of CAR T-cells for solid cancers as well as the contract manufacturing of other types of cells for third-parties that will generate new revenue streams."

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

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

PhilSec 2022 Set to Discuss Strategies to Strengthen Philippines’ Cybersecurity

MANILA, May 20, 2022 – (ACN Newswire) – With 74 million active internet users, the Philippines has been constantly battling a rich state of cybercrime. So much so that the National Bureau of Investigation's Cybercrime Division recorded a 200 percent increase in the phishing campaigns since the country went into lockdown in March 2020.

Taking heed from the situation, Tradepass has taken the initiative to host the 2nd edition PhilSec on 12-13 July 2022 in Manila. In a pursuit to bolster the country's cyber landscape, the mega scale cybersecurity summit now has Allan S Cabanlong, the author of National Cybersecurity Plan 2022 and Joey Fontiveros, the Deputy Commander/Commanding Officer-Army Signal Regiment as its Advisory Board Members.

In a statement issued, following the association announcement for the Advisory board, Allan S Cabanlong expressed, "PhilSec 2022 is one of a kind event that brings together cybersecurity experts around the globe to discuss pressing issues of cyber threats and cyber risks. I spoke and gave my insights in PhilSec 2021 which was held online and looking forward to a more collaborative engagement through a face-to-face conference this July in the Philippines! Kudos to the organizers."

"PhilSec 2022 will be an exciting one as this will be a big convention of knowledge exchange across industry practitioners who demonstrated excellence and commitment in their respective domains. This is also the time to hear about actual experiences that will enable the participants to apply in its work environment as a guide to better manage the challenges that come along," said Mel Migrino, Vice President and Group CISO, Meralco.

Leading organizations like Delinea, Okta, Recorded Future, CrowdStrike, CyberArk, Rubrik, BlueVoyant, Claroty, Synology and Tenable will lead the summit and showcase their thought leadership and cutting-edge solutions to 600+ cybersecurity experts including the Heads of Information Security, Risk, Compliance, Forensics and Cyber Law from the leading public and private enterprises across the Philippines.

The summit will power two knowledge-packed days filled with insightful presentations on the most pressing industry topics, deep dive panel discussions with the leading thought leaders, live showcase of the best cybersecurity solutions and abundant networking opportunities.

Some of the confirmed speakers for the summit include Allan S Cabanlong, Advisor & Former Assistant Secretary – Cybersecurity & Enabling Technologies, DICT; Lcol Francel Margareth Taborlupa, Battalion Commander – Philippine Army, Armed Forces of the Philippines; Mel Migrino, Vice President and Group CISO, Meralco; Angel Redoble, First Vice President, CISO, PLDT Group, ePLDT Group and Smart; Noel Cuestas, Chief – Audio, Video Forensic Section – Digital Forensic Unit, Philippine National Police Anti-Cybercrime Group; Marlon Sorongon, CISO, Maybank – Philippines and New York and many others.

Carrine Teoh, Chief Strategy Officer, Bond Holdings, is of the opinion, "Cybersecurity is a field where knowledge sharing and collaboration are key, while keeping abreast with technology. PhilSec2022 is a good platform to engagement for such purposes."

Some of the crucial topics from the summit include: 'Cyber Defense for Philippines' Critical Infrastructure', 'Breaking the Cyber Kill Chain', 'Addressing The Importance of DevSecOps', "Dark Web and Cryptocurrencies", "Digital Forensics", "Securing Application Layers With Effective WAF Gateway Technology" and many more.

Organizer and CEO of Tradepass, Sudhir Jena expressed, "PhilSec 2022 will bring together all the best names from Philippines" cybersecurity under one roof, thereby posing a networking opportunity like no other. Also, considering the heightened state of cybercrime in the country, the event platform will play a crucial role in encouraging collaboration between the public and private sectors."

For more information about the event, log on to: https://philsecsummit.com/

About Tradepass

Providing access to the global emerging markets, Tradepass brings together people, products and solutions to power events for unparalleled business and networking opportunities. Being the most accredited event company, it helps organizations: enter new markets, grow sales pipeline, close prospects, raise capital and identify the right solution-providers.

As a deal facilitator, Tradepass is always determined about exposing the most agile liquid growth markets, to enable all-round scalability and growth.

Media Contact:
Aritrika Chakraborty
aritrikac@tradepassglobal.com

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