WEGE Secures Project to Construct Coordinating Ministry for Maritime and Investment Affairs Office Complex at IKN

JAKARTA, Feb 2, 2023 – (ACN Newswire) – PT Wijaya Karya Bangunan Gedung Tbk (WEGE) has secured another project at the new capital city (Ibu Kota Negara, IKN) in East Kalimantan to construct the office complex for the Coordinating Ministry for Maritime and Investment Affairs (Kementerian Koordinator Kemaritiman dan Investasi, Kemenkomarves). The project was valued at Rp745 billion. WEGE has previously secured a project to construct modular buildings to house construction workers at IKN, and its progress has reached 94%.

A highlight of the eight storey Kemenkomarves office is it features integrated Smart and Green Building concept.

Another highlight is that the construction of the Kemenkomarves Office will implement Building Information Modelling (BIM) technology. The Kemenkomarves Office is located at Sepaku, Penajam Paser Utara and will not be far from the IKN Presidential Office.

WEGE's scope of work in this project is design-build construction with a completion period of 660 working days. The Kemenkomarves office complex will cover an area of 24,274 square metres.

WEGE Carries Out Groundbreaking of BMKG State College that Applies Smart and Green Building Concept

WEGE held a groundbreaking ceremony of the Lecture and Laboratory Building (Centre of Excellence) for the departments of Meteorology, Climatology, Geophysics, and Instrumentation (MKGI) of the State College of Meteorology Climatology and Geophysics (STMKG) in Tangerang.

The groundbreaking ceremony was held on Monday (24/01) and attended by the Head of Meteorological, Climatological, and Geophysical Agency (BMKG), Dwikorita Karnawati; Head of STMKG, I Nyoman Sukanta; representative of the Tangerang City Government; President Director of WEGE, Hadian Pramudita; Director of QHSE and Marketing, Yulianto; and Director of Operations I, Bagus Tri Setyana.

"We hope that through Smart and Green Building concept, BMKG is contributing to reducing and controlling CO2 emissions," said the Head of BMKG, Dwikorita Karnawati in her speech.

WEGE was trusted by BMKG to construct the MKGI Lecture and Laboratory Building (Centre of Excellence) located at Jalan Meteorologi No. 5, Tanah Tinggi, Tangerang, Banten.

This modern campus with the Smart and Green Building concept is scheduled for completion in 350 calendar days or at the end of 2023. Construction of this BMKG state college implemented level 5D of BIM technology to support the acceleration, construction accuracy, and safety and security factors.

WEGE's scope of work in this project includes planning, preparation, structural work, architectural work, mechanical, electrical & plumbing (MEP) work, and landscaping.

This STMKG facility will be 39 metres high, consisting of eight floors and one basement level with a total building area of 31,540 square metres.

In addition to constructing a lecture building, there will be an MKGI Laboratory (Centre of Excellence) which targets the Excellent category in Green Building Certification.

This is one of BMKG's mega projects in training experts to support BMKG's duty in providing information on meteorology, climatology, geophysics, and air quality to the Indonesian people.

PT Wijaya Karya Bangunan Gedung Tbk [IDX: WEGE]

Contact:
Purba Yudha Tama
Corporate Secretary
PT Wijaya Karya Bangunan Gedung Tbk.
Mobile: 0813 1792 5577
Phone: +6221 85908862 / 85909003
Email: corsec@wikagedung.co.id

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

ACROMETA Group Appoints Veteran Investor Mr. Levin Lee as Executive Chairman

SINGAPORE, Feb 1, 2023 – (ACN Newswire) – ACROMETA Group Limited [SGX: 1CH1] today announced that with effect from 30 January 2023, it has appointed Mr Levin Lee Keng Weng as Executive Chairman and Director of the Board. Mr Lee brings with him a wealth of experience in business and an enviable track record in investing.

On the appointment of Levin as Executive Chairman, ACROMETA Chief Executive Officer and Executive Director Mr Lim Say Chin said, "Levin's experience, business network and financial resources will be beneficial to ACROMETA as we advance to capture growth opportunities in our controlled environments engineering business. He has an enviable track record in helping companies strategize to be future-ready and bring about optimization of their market valuation."

Mr Levin Lee said, "SMEs in Singapore with good potential are often neglected by investors who do not understand their business. As a result, such small caps are often overlooked and thus hampered in their operations through a lack of financial resources and a good business strategy. My role is not only to help ACROMETA in its business strategy and financials, but also to let the investing public understand the company's business and potential. The controlled environments engineering business is truly a future-ready business as the R&D and production processes of many industries in the future economy such as biotechnology, semi-conductors and renewable energy take place in controlled environments."

The appointment of Mr Lee as Executive Chairman is in accordance with corporate governance best practice that the post of Chief Executive Officer should be separate from that of Chairman of the Board.

Note on ACROMETA's Controlled Environments Engineering Business

ACROMEC Engineers Pte Ltd (ACROMEC) a wholly owned subsidiary of ACOMETA is one of the few companies in Singapore established in the field of Controlled Environments Engineering (CEE) where it designs and constructs facilities for companies that require a controlled physical environment for their production and processes. The ability to control physical variables such as temperature, air purity, humidity, and pressure in the product manufacturing space is a mission-critical requirement for new economy industries such as semiconductors, biotechnology and renewable energy. Examples of CCE include Semiconductor wafer fab production, biotechnology R&D laboratories, and animal-manure-to- energy pyrolysis chamber.

About ACROMETA Group Limited (SGX Stock Code: 1CH1)

ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

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

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies. The company has been listed on the Catalist board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.

Media and Analysts Contact:
ACROMETA Limited
Mr Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574
Email: jerry.tan@acromec.com

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

This media release has been reviewed by the Company's sponsor Evolve Capital Advisory Private Limited. (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document. The contact person for the Sponsor is Mr Chua Hiang Hwee Jerry, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com

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

JE Cleantech (Nasdaq: JCSE) Takes Major Step towards Carbon Neutrality with the Installation of Solar PV Systems

SINGAPORE, Jan 31, 2023 – (ACN Newswire) – JE Cleantech Holdings Limited (Nasdaq: JCSE), (the "Company"), a Singapore-based cleantech company, today announced that the Company has completed the commissioning of solar photovoltaic systems installation at its facilities. The installation of the solar systems is one step further in the Company's efforts toward reducing the impact of its carbon footprint as aligned with its pledge to become carbon neutral by 2030.

The solar photovoltaic systems were installed in October last year and successfully connected today. The solar photovoltaic systems are expected to generate a total of approximately 205,000 kWhs per year, which will respectively cover 29 percent of the energy consumption for the facility manufacturing precision cleaning system and 10 percent of the total energy necessary for the operation of the facilities. Collectively, the implementation of the solar systems will generate an estimated savings of approximately 205,000 kWhs of electricity per year, or approximately SGD 77,000.00 per year for JE Cleantech. Utilization of electricity produced through solar energy is also critical to reducing the Company's dependence on electricity produced by the burning of fossil fuels.

As a leading manufacturer of precision cleaning systems in Singapore, JE Cleantech attaches great importance to its social responsibilities. The installation of solar systems at the Company's facility continues to demonstrate JE Cleantech's efforts towards reducing the impact of its carbon footprint by utilizing non-polluting solar energy as well as maintaining its sustainable growth. The Company plans to take a further step in expanding the coverage of its solar system to another facility, with an aim to increase the overall savings and to facilitate its sustainable goal.

Last year, Singapore committed to reducing emissions to around 60 million tonnes of carbon dioxide equivalent in 2030 and achieving net zero emissions by 2050. Along with this, the Government plans to meet 28% of its peak power demand from solar power by 2030. Solar energy is among the fastest-growing sources of new electric generation in Singapore and it is considered the main renewable energy focus by the Government. In line with this, JE Cleantech is sparing no efforts to support the Government and the local community along this journey.

Ms. Bee Yin Hong, CEO and Founder, JE Cleantech, said "We are proud to take one further step in fulfilling our social responsibilities and support the Government's 2050 net zero initiatives. The installation of solar systems is a milestone of JE Cleantech's support of nature conservation, pollution reduction, and climate change mitigation. This showcases JE Cleantech's ongoing commitment to prioritizing renewable efforts and ensuring a greener and more sustainable future for the community. Looking ahead, we will keep proactively committing to social responsibilities, striving for sustainable growth, and bringing sustainable returns to our shareholders and investors in the long run."

About JE Cleantech Holdings Limited

JE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i) the sale of cleaning systems and other equipment; and (ii) the provision of centralized dishwashing and ancillary services. Through its subsidiary, JCS-Echigo Pte Ltd, the company designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications primarily to customers in Singapore and Malaysia. Its cleaning systems are mainly designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide range of frequencies, high pressure drying technology, high flow rate spray, and deionized water rinses, which are designed for effective removal of contaminants and to minimize particle generation and entrapment. The Company also has provided centralized dishwashing services, through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, both mainly for food and beverage establishments in Singapore. For more information about JE Cleantech, please visit our website: www.jecleantech.sg.

Disclaimer: Forward looking statements

This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward-looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," "our strategy," or similar expressions. Forward-looking statements made in this press release that relate to our future contract revenues among other things involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update "forward-looking" statements.

For Media Enquiries and Investor Relations, please contact:
jcse@preciouscomms.com

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

SCIB Enforces Rights to Withdraw from Project

KUCHING, MALAYSIA, Jan 27, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company has issued a letter of withdrawal to Kencana Healthcare Sdn. Bhd. (KHSB) for the proposed engineering, procurement, construction and commissioning (EPCC) contracts involving a specialist hospital project located in Johor Bahru.


Group MD and CEO of SCIB, Encik Rosland bin Othman


SCIB had accepted a letter of award from KHSB dated 13 August 2021 for EPCC contracts involving the capital equipment procurement as well as the leasing concession for the procurement, supply, installation, testing and commissioning of medical equipment. SCIB and KHSB have mutually agreed to the Company withdrawing from the project.

As part of the withdrawal from the project, KHSB will reimburse under a settlement agreement, the commitment fee amounting to RM1.65 million that SCIB had paid out in two tranches. The withdrawal from the contracts will not have any material effect on the gearing, earnings per share and net assets of the Company for the financial year ending 30 June 2023.

Group Managing Director of SCIB, Encik Rosland bin Othman said, "The Company is enforcing its rights under the contracts and taking the necessary measures to protect SCIB's interests in mitigating the risks arising from the long delay or non-movement of project progress due to the uncertainties and inability to secure the necessary operator for the project. Additionally, this decision was made due to reviewing and updating our order book records to reflect the current situation."

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

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

Aneka Jaringan Posts Revenue of RM53 Million in 1Q FY2023

KUALA LUMPUR, Jan 19, 2023 – (ACN Newswire) – Aneka Jaringan Holdings Berhad (Bursa: ANEKA, 0226), a basement and foundation construction specialist, today announced that the Group recorded a 26.92% gain in revenue to RM52.85 million for the first quarter ended 30 November 2022 (1Q FYE2023) compared with RM41.64 million in the corresponding quarter of the previous financial year (1Q FYE2022).


Managing Director of Aneka Jaringan, Pang Tse Fui


In the quarter under review, the Group registered a narrower loss after tax (LAT) of RM4.62 million compared with LAT of RM5.41 million in 1Q FYE2022. Gross loss decreased to RM0.95 million in 1Q FYE2023 compared with gross loss of RM2.88 million in 1Q FYE2022 on a decline in material costs.

Managing Director of Aneka Jaringan, Pang Tse Fui said, "The Group continues to assess and monitor risks while selectively tendering for projects. We have secured RM52 million in contracts in FYE2023 and we are also increasing capacity in Indonesia to leverage on the country's growing infrastructure needs while monitoring developments on the new Indonesian capital of Nusantara in which we believe would present us a lot of opportunities."

"Although we have seen material prices stabilized, it remains a concern along with energy and labour costs. China's relaxation of its zero-COVID policy and the reopening of its economy may mean volatile material prices as demand grows. To lower labour costs, the Group will be replacing its outsourced workers with newly recruited foreign workers as we have been granted a government quota of 150 workers."

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

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

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

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

Impro: Share price of U.S. peer up nearly 300% in three years. Impro issues positive profit alert with extremely low comparable valuation

HONG KONG, Jan 16, 2023 – (ACN Newswire) – The latest macro data published by the U.S. is not ideal. The market expects the Fed will continue to raise interest rates through to the end of 2023. By then, the federal funds rate may reach 4.9% and the higher interest rate level will once again trigger market concerns about asset price revaluation. It is clear that US stocks have been under pressure recently.



U.S. peer Howmet's share price has risen by over 300% in the last three years

For well-managed companies, there is never a shortage of capital and opportunity in the capital market. The stock price of Howmet Aerospace (US stock code: HWM) has been on an upward trajectory, hitting new all-time highs. It has increased from a low of US$9.87 in May 2020 to a closing price of US$40.55 on 10 January this year, representing a surge of close to 300% in three years and nearly 30% in the last six months. Howmet is a global leader in engineered metal castings and precision machining products. It is the second largest in the industry in terms of investment casting sales (the market leader is Precision Castparts Corp., which Warren Buffett took private in 2015) with a current market capitalization of US$16.8 billion. Its price-to-earning (P/E) ratio is estimated at 38.6 times, and its price-to-book (P/B) ratio and price-to-sales (P/S) ratio is 5.1 times and 3.0 times, respectively.

Impro's valuation is extremely low compared with Howmet

Impro (01286.HK) is a company listed on the Hong Kong capital market and is engaged in the same investment casting business as Howmet. It is a world-leading manufacturer of high-precision, high-complexity and mission-critical casting and machined components, and the sixth largest investment casting manufacturer in the world and the largest in China. Compared with Howmet, Impro's current market capitalization is only US$620 million (HK$4.9 billion), with a P/E ratio of approximately 8 times, a P/B ratio of 1.1 times and a P/S ratio of 0.9 time. It is evident that the Company is significantly undervalued.

Impro Precision issues positive profit alert Results is set for further growth

As one of the world's top ten manufacturers of high-precision castings and machined components, Impro Precision is underestimated and has huge scope for further growth. The Company recently issued a positive profit alert. Its sales revenue for 2022 is expected to increase by 15% to HK$4.35 billion, with net profit of HK$550-600 million, a year-on-year increase of 43-56%. Like Howmet, Impro Precision has also benefited from the recovery of its aerospace business after the pandemic. With the market for aircraft parts in short supply, the Company's future performance has great potential. Despite the Company's record net profit and sales revenue, its share price closed at only HK$2.65, still below its all-time high and in the bottom range. Compared with the historical high of HK$5.20, there is still considerable room for upward movement.

Leading stock in high-precision parts industry in Hong Kong Aerospace and Hydraulics businesses will become its new growth engine

As one of the few leading high-precision component companies in the Hong Kong stock market, with strong economies of scale, the Company's sales exceeded HK$4.3 billion in 2022, and it has established a global presence. To date, the Company has 21 plants, 10 sales offices and eight logistics and warehousing centers in North America, Europe and Asia. It also completed the acquisition of Foshan Ameriforge at a consideration of nearly RMB59 million and the hydraulic orbital motor business of Danfoss Power Solutions (Jiangsu) Co., Ltd., a subsidiary of Danfoss Group, for EUR65 million, on 15 August and 31 October 2022, respectively, to strengthen the Company's presence in the aerospace and hydraulics industries.

One of the revaluation targets under a valuation system with Chinese characteristics

On 21 November 2022, at the Annual Conference of Financial Street Forum 2022, Yi Huiman, Chairman of the China Securities Regulatory Commission, speaking on the structure and valuation of listed companies, said that there was a need to explore ways to build a valuation system with Chinese characteristics, so as to promote better functioning of the market's resource allocation.

Obviously, the regulator has clearly recognized that it is very unreasonable for a number of listed companies, including Hong Kong stocks and A-shares, to be extremely undervalued by the market. The regulator has pointed out that it is necessary to conduct an in-depth study on the application scenarios of valuation theories in mature markets and grasp the valuation logic of different types of listed companies. It is believed that the signal from the regulator to explore the establishment of a valuation system with Chinese characteristics will be gradually developed and implemented at the level of investment banks and institutional investors. Compared with overseas benchmarking companies, the valuation of Impro is extremely unreasonable. The history of the development of the US stock market shows that a reasonable revaluation of the value of a listed company may be late, but it is never missed.

Moreover, the market capitalization of Impro will soon exceed HK$5 billion, and it is likely to be included in the Shenzhen-Hong Kong Stock Connect and Shanghai-Hong Kong Stock Connect in the second half of this year, giving mainland investors the opportunity to invest in Impro. As a rare leader in the high-precision components industry, the Company has maintained continuous growth in its business performance. It is believed that, under the catalyst of multiple factors, Impro will move further along the new capital market curve.


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

SCIB Proposes Private Placement to Raise Up to RM10.98 Million

KUCHING, MALAYSIA, Jan 11, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) is proposing a private placement to raise gross proceeds of up to approximately RM10.98 million for working capital, repayment of bank borrowings and estimated expenses for the proposed private placement.


Group MD and CEO of SCIB, Encik Rosland bin Othman


While the issue price and the actual number of shares to be issued will be determined later, under the maximum scenario in which all the Company's 245.18 million outstanding warrants are exercised, the proposed private placement will entail the issuance of up to 82.72 million placement shares at an indicative price of RM0.1327 per placement share to raise gross proceeds of up to approximately RM10.98 million. Under the minimum scenario, should none of the outstanding warrants be exercised, then gross proceeds raised will be RM7.72 million.

The proposed issuance represents not more than 10% of the issued shares as at the latest practicable date (LPD) of 30 December 2022 while the indicative price per share represents a discount of approximately 9.97% to the five-day volume weighted average market price of SCIB shares up to the LPD of RM0.1474. The proposed private placement may be implemented in several tranches within six months of approval from Bursa Securities Malaysia Berhad or any extended period approved by it until the conclusion of the next AGM.

The proposed private placement is undertaken in accordance with the approval obtained from the shareholders of the Company at the 46th AGM convened on 8 December 2022.

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

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

Minetech Awarded RM36.71 Million Mini-Hydro Project

KUALA LUMPUR, Jan 11, 2023 – (ACN Newswire) – Minetech Resources Berhad, a civil engineering specialist and bituminous products manufacturer today announced that the Company's wholly-owned subsidiary, Techmile Resources Sdn Bhd (TRSB), has accepted a letter of award (LOA) from Tesdec Hydropower Sdn Bhd for the engineering, procurement, construction and commissioning (EPCC) of a 3MW mini-hydro power plant at Sungai Pelagat, Besut, Terengganu valued at RM36.71 million.




The project, which is expected to commence in January 2023, followed by construction in 2025, is expected to be completed by May 2027, comes under the Sustainable Energy Development Authority's (SEDA) feed-in-tariff (FiT) programme in which businesses or individuals that hold SEDA's feed-in approval certificate can sell RE at the FiT rate to distribution licensees such as Tenaga Nasional Berhad.

TRSB provides EPCC as well as maintenance, repair and overhaul (MRO) services for the energy industry. Tesdec Hydropower is a sub-subsidiary of Tesdec Berhad through its subsidiary, Tesdec Services Sdn Bhd. Tesdec is wholly-owned by the Terengganu government while Tesdec Hydropower is principally involved in renewal energy (RE) activities, development and facilities in the state.

Dato' (Dr). Ts. Awang Daud bin Awang Putera, Executive Chairman of Minetech said, "This project represents for us another step forward in our venture into RE that began in 2020 as part of an organisational transformation at Minetech, which includes diversification and rationalisation. Our move into RE enables us to partake in the development of a sustainable economy that is in line with initiatives in recent years to be greener and ensure social wellbeing."

"The 3MW mini-hydro power plant project will allow us to also showcase what Minetech is capable of as we seek more opportunities in RE. As a registered solar photovoltaic investor with SEDA and the owner of a 9.99MW AC floating solar power plant located in Pantai Remis, Perak, we are also able to sell electricity to government agencies, businesses and individuals under SEDA's Net Energy Metering Programme or NEM 3.0."

YAB Dato' Seri Dr. Ahmad Samsuri bin Mokhtar, Menteri Besar of Terengganu said, "The state government is committed to driving economic growth through such projects where positive spillover effects include lowering greenhouse gas emissions, mitigating the impact of human activities to the environment and safeguarding the wellbeing of communities through socio-economic progress".

Chairman of Tesdec Hydropower, YB Ir. Saiful Azmi bin Suhaili said, "We are pleased to initiate this renewable energy project that will bring benefits to the people of Terengganu by providing a stable and clean source of electricity that can also support essential backup power should there be power outages or disruptions."

The LOA signing ceremony was held at Primula Beach Hotel, Kuala Terengganu and were witnessed by Terengganu Menteri Besar, YAB Dato' Seri Dr. Ahmad Samsuri bin Mokhtar and Executive Chairman of Minetech, Dato' (Dr). Ts. Awang Daud bin Awang Putera. Executive Directors, Ts. Azlan Shah bin Zainal Arif and Mr Matt Chin signed on behalf of TRSB while Directors, Ir. Rosdan bin Ismail and Ts. Shahidan Izham bin Yeop Ibrahim, signed for Tesdec Hydropower.

Image Caption
From L-R:
1. Ts. Shahidan Izham bin Yeop Ibrahim, Director of Tesdec Hydropower Sdn Bhd
2. Ir. Rosdan bin Ismail, Executive Director of Tesdec Hydropower Sdn Bhd
3. YB Ir Saiful Azmi, Chairman of Tesdec Hydropower Sdn Bhd
4. YAB Dato' Seri Dr Ahmad Samsuri bin Mokhtar, Menteri Besar of Terengganu
5. Dato' (Dr). Ts. Awang Daud bin Awang Putera, Executive Chairman of Minetech Resources Bhd
6. Ts. Azlan Shah bin Zainal Arif, Executive Director of Minetech Resources Bhd
7. Matt Chin Leong Choy, Executive Director of Minetech Resources Bhd
https://www.acnnewswire.com/topimg/Low_Minetech02301111.jpg

From L-R (Standing):
1. YB Ir Saiful Azmi, Chairman of Tesdec Hydropower Sdn Bhd
2. YAB Dato' Seri Dr Ahmad Samsuri bin Mokhtar, Menteri Besar of Terengganu
3. Dato' (Dr). Ts. Awang Daud bin Awang Putera, Executive Chairman of Minetech Resources Bhd
From L-R (Seated):
1. Ts. Shahidan Izham bin Yeop Ibrahim, Director of Tesdec Hydropower Sdn Bhd
2. Ir. Rosdan bin Ismail, Executive Director of Tesdec Hydropower Sdn Bhd
3. Ts. Azlan Shah bin Zainal Arif, Executive Director of Minetech Resources Bhd
4. Matt Chin Leong Choy, Executive Director of Minetech Resources Bhd
https://www.acnnewswire.com/topimg/Low_Minetech02301112.jpg

Minetech Resources Berhad: 7219 [BURSA: MINE], https://minetech.com.my/

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

Bintai Kinden Ventures into Digital Assets

PETALING JAYA, Malaysia, Jan 10, 2023 – (ACN Newswire) – Bintai Kinden Corporation Berhad (Bursa: BINTAI, 6998), a mechanical and electrical (M&E) engineering services specialist, is venturing in digital assets through wholly-owned subsidiary Bintai Trading Sdn Bhd (BTSB) as part of the Company's treasury management while taking into consideration longer-term needs in business expansion.


Executive Director of Bintai Kinden, En. Azri Azerai


As part of this initiative and to take into consideration the longer-term needs, BTSB has an account with a digital currency exchange licensed by the Securities Commission Malaysia.

Azri Azerai, Executive Director of Bintai Kinden said, "This is an opportune time to venture into digital assets as values across the board has fallen, especially among the main ones such as Bitcoin and Ethereum. We will devote a portion of our free cashflow for digital assets and will take a dollar-cost averaging approach when buying into them."

"This is also part of our treasury management as we need to ensure cashflow to manage our daily operations while taking into consideration our longer term needs and strategies involving the M&E business. We will continue to seek opportunities in Malaysia and neighbouring countries to expand."

According to Coinbase Global Inc.'s 2023 Crypto Market Outlook published in December 2022, a flight to quality among institutional investors; creative destruction that will eventually lead to new opportunities and; foundational reforms that usher in the next cycle, are the key themes for the year.

The Coinbase report noted that the coefficients that led to the high, positive correlation between Bitcoin and Ethereum versus US stocks have trended lower since May 2022 and expects investors to select higher-quality cryptocurrencies based on factors such as sustainable tokenomics, maturity of ecosystems and relative market liquidity.

A survey sponsored by Coinbase, the "2022 Institutional Investor Digital Assets Survey", conducted between September 21 and October 27, 2022 among 140 institutional participants, revealed that 53.6% expect cryptocurrency prices to remain range-bound over the next 12 months versus 29.3% who expect prices to trend lower while 7.9% expect prices to trend higher and 9.3% expressed no opinion on where prices will move.

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

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

Ching Lee Holdings (3728.HK) Wins in Adversity, Committed to Improving Cost Efficiency

HONG KONG, Jan 9, 2023 – (ACN Newswire) – Ching Lee Holdings Limited "Ching Lee" or "The Group" (stock code 3728.HK) recorded over 20% increase in gross profit in the latest interim results ended 30 September 2022 benefiting from the total reinforcement of cost control. The Group has successfully reversed to great profits from the adverse.

Ching Lee has always taken a prudent attitude toward the Group's operations, actively strengthening project cost control and saving administrative and operating expenses. Even during the difficult epidemic period, Ching Lee strives to fight against adversity and insists on bringing benefits to shareholders. This good result was driven by the concerted efforts of all employees.

The Group has awarded several high-quality superstructure construction projects since last year covering traditional luxury residential areas, including Prince Edward Road West in Homantin, Happy Valley, Central, and Mid-Levels on Hong Kong Island, etc. The accumulated unfinished contract value exceeds HK$1.9 billion. The value-added business is expected to have a considerable profit. Two large-scale projects in Stanley and Tsim Sha Tsui were completed in 2022 and other projects will be completed continuously.

The Group Chairman Mr. Ng Choi Wah, said: "As a general contractor in Hong Kong, the Group will continue to focus on its core business and contribute to the construction industry in Hong Kong. We are optimistic about the overall market demand. In addition, Hong Kong has relaxed the epidemic prevention policy. It is expected that another new scene will appear in the market."

Media enquiries:
New Smile Limited Strategic IR & PR Consultancy
Tel: +852 2126 7076
Jenny Lai jenny.lai@newsmilehk.com
Jenny Cheung jenny.cheung@newsmilehk.com
Richard Wong richard.wong@newsmilehk.com

Ching Lee Holdings Limited "Ching Lee" or "The Group"

Ching Lee Holdings Limited, a limited liability company incorporated under the laws of the Cayman Islands, is a contractor in Hong Kong with over 23 years of experience in public and private sectors. The principal activities of Ching Lee Holdings and its subsidiaries are the provision of construction and consultancy works and project management services in Hong Kong, engaged in providing substructure building works services, superstructure building works services, and repair, maintenance, alteration and addition (RMAA) works services. Ching Lee Holdings Limited was transferred from GEM board to the main board in HKEx on September 18, 2017 with stock code 3728.hk. Company website: http://www.chingleeholdings.com


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