Tag: Engineering

SCIB Granted RM16.8 Million Contract for School Construction

KUCHING, MALAYSIA, Mar 28, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company's wholly owned subsidiary, SCIB Industrialised Building System Sdn. Bhd. (SCIBIBS), has been awarded an engineering, procurement, construction and commissioning (EPCC) subcontract valued at RM16.8 million from Majestika Sdn. Bhd.
Group Managing Director and Chief Executive Officer of SCIB, Rosland bin Othman


Majestika, the main contractor for the project, awarded the EPCC subcontract to SCIBIBS with a duration of 14 months for the construction of a school, Sekolah Kebangsaan Tambay, in Kota Samarahan, Sarawak.

Group Managing Director of SCIB, Encik Rosland bin Othman said, "We are pleased to announce that this project comes on the heels of having been awarded a project to rebuild a school in Serian, Sarawak that was announced earlier in the month valued at RM20.65 million. Our strengths and focus on small-to-mid-sized rural infrastructure projects have enabled us to build a strong portfolio that we can leverage on when seeking such projects."

"SCIB offers EPCC services that are supported by our manufacturing arm, which is the leading precast concrete and IBS manufacturer in East Malaysia. We are actively pursuing projects for dilapidated schools in Sarawak and Sabah, which have been allocated RM920 million. This is on top of bidding for projects in both states, which have been allocated RM5.6 billion and RM6.5 billion respectively under the re-tabled Budget 2023."

The Company's share price as of 28 March 2023 is 0.125 sen with a market capitalisation of RM72.8 million. SCIB has an order book of RM388 million as of March 2023.

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

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

Analogue Grows FY2022 Revenue and Contracts Awarded by 21.0% and 41.8% Respectively Defying Challenging Market Conditions

HONG KONG, Mar 24, 2023 – (ACN Newswire) – Analogue Holdings Limited ("Analogue" or the "Company", together with its subsidiaries, collectively the "Group") (stock code: 1977), a leading electrical and mechanical ("E&M") engineering service provider in Hong Kong, today announced its annual results for the year ended 31 December 2022 ("the Year" or "FY2022") with growth in revenue and contract awarded, achieving solid trading performance despite impact from global economic adversity and the lingering pandemic.

Highlights
— Total revenue reached HK$6,474.7 million, an increase of 21% year-on-year
— Contracts awarded during the year grew by 41.8% year-on-year to HK$6,822 million
— Contracts-in-hand rose to a high of HK$11,656 million
— Profit attributable to owners of the Company was HK$114.6 million
— The Board has resolved to pay a special dividend of HK4.5 cents per share as a special celebration of the 45th Anniversary of the Group

During the Year, the Group's total revenue increased by 21.0% year-on-year to HK$6,474.7 million. Gross profit rose by 15.2% to HK$1,011.5 million, with gross profit margin at 15.6%. Profit attributable to owners of the Company for FY2022 was HK$114.6 million. If excluding the provision for litigation liabilities of HK$150 million and the impairment loss on Group's interest in an associate of HK$75.6 million, the FY2022 profit for the year would be HK$340.2 million, representing a year-on-year increase of 8.2%.

The Group's contracts-in-hand increased to approximately HK$11,656.3 million as at 31 December 2022, providing a strong foundation for the core businesses' growth in the immediate term. Tendering activities remained active throughout the Year, with a total of 1,409 tenders or quotations valued at over HK$1 million each.

The Board did not recommend a payment of a second interim dividend for the year ended 31 December 2022. The Board has resolved to pay a special dividend of HK4.5 cents per share for FY2022 as a special celebration of the 45th Anniversary of the Group.

Dr. Otto Poon Lok-to, Chairman of Analogue Holdings Limited, said, "The business environment in 2022 has proved to be even more challenging than in preceding years, with the growing geopolitical tensions, the Russia-Ukraine conflict, rising inflation and interest rates contributing to global supply chain disruptions and material shipment interruptions, coupled with strict pandemic control measures in Hong Kong and Mainland China, resulting in project delays. Even so, the market demand for E&M engineering services remained strong. Backed by our three strategic pillars of 'New Technology', 'New Market', and 'New Business Model', we were able to sustain business growth owing to our industry-leading position, diversified business portfolio, innovative technologies and strong financial position."

Building Services segment's contracts-in-hand increased by 11.1% to HK$5,438 million as of 31 December 2022. The Group's exceptional project execution capability enabled it to deliver on the order book throughout FY2022, boosting the segment revenue by 26.0% to HK$4,257 million. In particular, the recurring revenue stream from infrastructure operation, data centres, and housing programmes was fortified by the HK$415 million of new maintenance contracts secured in FY2022, up by 111.7% year-on-year. While the Group's proprietary ATAL Building Services Prefabrication and Modularisation ("ABSPM") construction technology was successfully completed in a number of contracts during the Year, a number of key projects were secured, including three projects related to the Three Runway System at Hong Kong International Airport with a total value of over HK$800 million. The Group also successfully completed the largest data centre project of its team in a decade, with a value of over HK$1,000 million. Ongoing operation and maintenance ("O&M") contracts for the aforementioned data centre were also secured, worth over HK$70 million. Demand for available space in data centres in Hong Kong is expected to double over the 5 years from 2022. Highlighted by a significant market share and continued recognition from prestigious customers, the Group remains at the forefront in the field of data centres.

Environmental Engineering segment's contracts-in-hand amounted to HK$4,791 million. During the Year, the Group won seven new contracts that underscore its expertise in project management services for quality water, wastewater, and solid waste infrastructure. Priding itself on innovation and technology advancement, the Group advanced its proprietary "Digital Twin technology" for monitoring the influent quality of incoming sewage at a sewage plant in one of its wastewater project sites, enhancing optimisation of its operational efficiency. In addition, two projects in which the Group participated received international awards, namely, O PARK1, the first organic resource recovery centre in Hong Kong, which was awarded the National Overall Winner and FIRE Category Winner in the "Energy Globe Award 2022" for its outstanding performance in adopting innovative design to tackle climate change; and the Yuen Long Effluent Polishing Plant project of the Drainage Services Department, which was awarded the "2022 Edmund Hambly Medal" from the Institution of Civil Engineers, U.K. for its excellence in adopting innovative design to combat climate change. Furthermore, a wastewater treatment plant project in Croatia was secured during the Year, an important step in establishing the Group's expertise in water infrastructure projects overseas. Leveraging its proven technical and project management capabilities, the Group is well-positioned for a major growth opportunity in the years to come.

Information, Communications and Building Technologies ("ICBT") segment's contracts-in-hand increased slightly to HK$888 million during the Year. Revenue increased by 27.6% year-on-year to HK$631 million, thanks to its strong order book. Continuing to support Hong Kong's "Smart City" and "Smart Economy" visions, the Group provides green and intelligent building solutions that integrate a wide range of information and communications technologies with AI-enabled Digital Twin, energy and management technologies, ESG dashboard, Indoor Environment Quality Management, robotic solutions, and Smart Lampposts. The Group has been awarded another contract of the smart lampposts pilot scheme for deploying smart lampposts across Hong Kong, marking a milestone towards the city's visionary goal of smart city development. Recognised as a key player in new technology, the Group's comprehensive AI Energy Management Platform, Internet of Things ("IoT") applications, Video Analytics technology, and "walkable" Photovoltaic ("PV") were adopted in a new world-class smart office and commercial building being constructed in Hong Kong's prestigious Central Business District. The Group's IoT-based smart hostel solutions will also be installed at one of the largest and most prestigious universities in Hong Kong. The Group will continue to invest in digital transformation across smart building technologies and roll out innovations in a timely manner.

Lifts and Escalators segment's contracts-in-hand amounted to HK$540 million. During the Year, Anlev Elevator Group ("Anlev"), the Group's global brand of lifts, escalators, and moving walkways, secured strategic orders ranging from mass transportation in Brazil and hotels in Mexico, prestige government offices in Hong Kong, to orders in Mainland China, the US and other countries in Asia. The Group's wholly owned subsidiary Anlev (UK) Limited has also taken significant steps towards establishing itself in the United Kingdom's high rise lift market by obtaining safe contractor and construction supplier accreditations and finalising the order for the iconic and prestigious residential Victoria Riverside project in Manchester, United Kingdom. The Group will seek new distributors in the United States, Europe, Middle East and Southeast Asia to further its global expansion plan. In parallel, the Group is completing a RMB60 million expansion of its Nanjing factory facilities to increase production capacity for lifts and escalators to meet the anticipated demand and growth of its global business.

"Over the decades, the Group has grown in tandem with Hong Kong, overcoming many challenges and helping make our city a smarter and more sustainable place. To deliver many more years of success, digitalisation and embedding sustainability into every aspect of business is key. With our strong emphasis on innovation, R&D capability and ESG strategies, Analogue is well-positioned to provide solutions to support our clients in achieving their ESG goals, optimising energy consumption and reducing their carbon footprint. To enhance efficiency and prepare for the future, operating units were re-organised and new appointments as well as procedures were established. We are continuing to provide staff training, as well as enhancing staff engagement to directly tackle the industry shortage of labour. We will also make good use of technologies to boost safety, quality and productivity," added Dr Poon.

The Group's strong tender activity in 2022 is evidence of the high market demand and opportunities for growth that will support its further development and expansion in 2023. In the coming years, Hong Kong will continue to develop as a smart and sustainable city. The business opportunities that emerge from this process will allow the Group, supported by its proprietary technologies, to bring benefits to its customers and Hong Kong through its projects, including energy-efficient buildings, digital solutions to improve operational efficiency, and improved healthcare and other service delivery for the betterment of Hong Kong.

Dr Poon concluded, "While we are mindful of the many global and local challenges experienced over the past year, numerous developments such as the reopening of Mainland China's borders and committed public projects spending by the Hong Kong Government present valuable opportunities to the E&M engineering sector. Having already established footholds in the United States and Europe, the latter via the United Kingdom, we will develop organically in the two regions while concurrently looking out for M&A and equity participation opportunities that can promote synergies among our businesses and create healthy income sources."

For more details of the 2022 Annual Results, please refer to the announcement that has been filed with The Stock Exchange of Hong Kong Limited.
https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0324/2023032401303.pdf

About Analogue Holdings Limited
Established in 1977, Analogue Holdings Limited is a leading electrical and mechanical ("E&M") engineering service provider headquartered in Hong Kong, with operations in Macau, Mainland China, the United States and the United Kingdom. Serving a wide spectrum of customers from public and private sectors, the Group provides multi-disciplinary and comprehensive E&M engineering and technology services in four major segments, including Building Services, Environmental Engineering, Information, Communications and Building Technologies ("ICBT") and Lifts & Escalators.

The Group also manufactures and sells Anlev lifts and escalators internationally and has entered into an alliance with Transel Elevator & Electric Inc. ("TEI"), one of the largest independent lifts and escalators companies in New York, the United States. The Group's associate partner, Nanjing Canatal Data Centre Environmental Tech Company Limited (603912.SS), is specialised in manufacturing of precision air conditioners.


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

BuildTech Asia 2023 to focus on Digitalisation, Smart Building & Construction and Sustainability

Singapore, Mar 22, 2023 – (ACN Newswire) – BuildTech Asia (BTA), the leading platform for Asia Pacific’s building and construction industry, is back for its 12th edition from 28 – 30 March 2023. A Constellar event, BTA’s theme this year is “Transforming Tomorrow’s Built Environment”, presented with 48 local and regional industry associations and partners. BTA 2023 will feature over 100 onsite exhibitors from 15 countries and regions (almost a 40% expansion from last year) and an extensive line-up of conferences, sandboxes and product launches to better equip and future-proof the sector.

Countries and regions participating include Singapore, Australia, Cambodia, China, Finland, Germany, Hong Kong, India, Israel, Japan, Korea, Malaysia, Poland, Sweden, Taiwan and USA.

Official Launch of BCA – STAS Shared Services Providers (SSP) Scheme

Guest-of-Honour Senior Minister of State for Ministry of Communications and Information & Ministry of National Development Mr Tan Kiat How will officiate the opening of BTA 2023 with an opening address and the official launch of Specialists Trade Alliance of Singapore (STAS)’s Shared Services Registry, a significant milestone in STAS’s commitment to digitalising the Built Environment sector.

The adoption of Building Information Modelling (BIM) and Integrated Digital Delivery (IDD) is a key enabler of transformation in the Built Environment sector. It is a digital spine that links project stakeholders throughout the entire building lifecycle. The Shared Services Registry serves the BIM and IDD procurement needs of stakeholders, especially SMEs, in their digitalisation journey. The pilot was successful, and the Shared Services Registry will be scaled up to implement more rigorous quality checks and open up for public registration from Q3 2023.

Experience Tomorrow’s Built Environment in person

BTA 2023 will deep-dive into three dimensions of emerging technologies and solutions that are making an impact on industries today – Digitalisation, Smart Construction (Robotics & Automation) & Green Construction (Sustainability). To better demonstrate the utilisation of new technologies and solutions, BTA 2023 has curated and will be introducing two new experiential zones:

  • The Smart Construction Experience Zone, powered by Tractors Singapore Limited (TSL), a leading equipment dealer in Singapore distributing a full line of Cat® machines and engines such as the Excavator 320 and the Vibratory Soil Compactor CS11GC
  • The Robotics & Automation Experience Zone, featuring Singapore SMEs such as Doog International, who will be showcasing their user-friendly and highly scalable autonomous mobile robots such as “THOUZER”, a versatile robotic cart with a payload capacity of 120kg, a towing capacity of 300kg and equipped with Follow-Me and Memory Trace® Technology, developed to navigate challenging construction work sites and execute automated repetitive tasks

BTA 2023 will also welcome new companies offering their latest solutions, equipment and machinery for the sector:

  • Knauf Plasterboard Ptd Ltd: one of the world’s leading dry construction systems and solutions providers
  • Liugong Machinery Co., Ltd: 10th-largest construction equipment manufacturer by global market share and the world’s largest manufacturer of wheel loaders
  • Pee Huan Pte Ltd: authorised distributor for the HELI Forklift brand and has more than 20 years of experience in the material handling industry
  • Sany South East Asia Pte Ltd: 3rd-largest heavy equipment manufacturer globally and one of Singapore’s leading supplier offering sales, services and technical solutions in the crane industry
  • SquareDog Robotics Limited: who will be showcasing SQD-Robo Patrol, its cost-effective, multi-functional robot that provides 24/7 security patrol for the warehouse

BTA 2023 will also see returning key industry players such as Buildo Engineering Pte Ltd, Lingjack Digital Pte Ltd, PDS International Pte Ltd and SPC Industries Sdn Bhd, who are looking forward to showcasing how their latest equipment and solutions can meet evolving building and construction needs.

Bridging knowledge gaps and addressing industry challenges

BTA 2023 will also be launching its inaugural Built Environment Transformation Forum, where industry leaders and experts will be sharing about post-pandemic collaboration opportunities as well as trends and policies pivotal to the Built Environment Sector. Kicking off the forum is a fireside chat on sector transformation with Mr Heng Teck Thai, Deputy CEO (BuildSG Office) of the Building and Construction Authority (BCA).

BTA is also working with Asia Pacific Assistive Robotics Association (APARA), World of Safety and Health Asia (WSH Asia), Singapore Contractors Association Limited (SCAL), Association of Women in Construction (AWiCS), Singapore International Facility Management Association (SIFMA) and the exhibitors, to offer six half-day conferences and over 80 conference sessions, product launches and sandboxes on the latest industry developments, technology advancements and best practices for the sector.

Participants can expect insightful discussions on digitalising their operations, incorporating artificial intelligence or AI and robotics for smart construction, adopting sustainable practices, refreshing safety measures, and upgrading their knowledge in integrated facilities management. Sessions to look out for include:

  • The update on The Accreditation of Project Managers (APM) scheme by Mr Jonathan Shek, Chairman of the Society of Project Managers, aimed at enhancing standard of project management practice in Singapore’s built environment & construction industry
  • Improving measurement accuracy with 3D laser scanning by Mr Mika Honkavuori, Entrepreneur, RECURE
  • Establishing proper data preparation platforms to facilitate accurate retrieval of AI datasets by Mr Kevin Quah, Founder & CEO, Tictag

Propelling ahead with sustainability efforts

BTA 2023 is also the first event in Singapore EXPO to be piloting the sustainability measurements proof-of-concept under Singapore’s MICE Sustainability Roadmap with SACEOS to measure event waste and carbon emissions. Together with Singapore EXPO, BTA will be coordinating closely with its exhibitors, suppliers and partners to identify waste drivers and boundaries, and generate actionable insights for the industry to make informed decisions to achieve net zero by 2050. Singapore EXPO, managed by Constellar, also recently announced key investment projects towards achieving Net Zero by 2024.

“The pilot deployment of the sustainability measurements proof-of-concept at BTA 2023 will offer the Singapore MICE industry valuable insights and experience from diverse perspectives. These are especially important to Constellar as both an exhibition organiser and MICE venue operator, and will enable us to play a meaningful role in the MICE eco-system where collaboration with partners is the only way to reach the scale of impact needed,” said Mr Jean-François Quentin, Group Chief Executive Officer, Constellar.

BTA 2023 will be at Singapore EXPO Hall 3 from 28-30 March 2023.

About BuildTech Asia

BuildTech Asia is the Asia Pacific premier platform for the built environment sector which showcases the latest smart solutions and productive technologies across the entire building life-cycle. With international and regional brands showcasing the most comprehensive exhibiting profile such as onsite construction machinery & equipment, building materials & solutions, architectural & quality finishes, productive technologies, facilities management, and infrastructure solutions to help accelerate the built environment sector to build faster and smarter. The annual event provides a gateway into Asia to network with a wide range of practitioners, technology experts, industry players, developers, agents, and distributors in the building and construction industry.

About Constellar

Constellar connects a global eco-system of event partners and consumers through a holistic portfolio of intellectual property (IP) in the Meetings, Incentives, Conventions and Exhibitions (MICE) industry. As Asia’s partner of reference for curating innovative event and venue experiences, Constellar activates impactful networks to bring global markets, businesses and consumers together for sustainable growth. With our expertise and dedication, we are invested in helping you build trusted relationships with stakeholders for the long term and enabling cross-industry collaboration through world-class audience engagement solutions. Visit constellar.co for more information.

For more information, please contact:
Carine Lin
Manager, Communications & Culture
Email: carine.lin@constellar.co ; Mobile: 9336 3746



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

Acrometa to Expand to Thailand through MOU with Waste Management Company on Construction and Operation of Laboratory

SINGAPORE, Mar 21, 2023 – (ACN Newswire) – ACROMETA Group Limited, an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, announced that it has entered into a Memorandum of Understanding (MOU) with a Thailand company whose principal activity is the provision of industrial waste disposal services.

The Thailand company provides non-hazardous waste disposal services. It owns and operates one of Thailand's largest landfills and requires a laboratory in Thailand ("Laboratory") for the testing and certification of solid waste and sludge to ensure proper treatment of any hazardous materials.

The MOU states the intention by the parties to jointly discuss and negotiate definitive agreements on:

1. The design and construction of the Laboratory by ACROMETA's wholly-owned subsidiary Acromec Engineers Pte Ltd
2. The operation of the Laboratory by ACROMETA's co-working laboratory space operator Life Sciences Incubator Pte Ltd ("LSI")
3. Opportunities for ACROMETA and/or its subsidiaries to participate as a joint venture partner in the ownership of the Laboratory.

The MOU shall be valid for a period of six months from the date of signing with the option for extension by mutual agreement.

ACROMETA's Future Economy + Synergy Strategy

On 20 February 2023, ACROMETA announced that it had entered into a binding letter of intent to purchase an additional 40% of the shares of LSI to become the controlling shareholder. On expected completion date, LSI will be a 70% owned subsidiary of ACROMETA.

ACROMETA Chairman Mr Levin Lee Keng Weng had said, "This potentially carves out a new promising mainstream business for us as controlled environment specialist."

The co-working laboratory space business has strong growth potential as Singapore transforms its economy towards high-value sectors such as Biotech, Agritech, and Foodtech with more and more companies conducting research & development activities. Serving SMEs and start-ups and in particular those in the MedTech, Biotech, Biopharma, FoodTech, and Healthcare sectors, LSI provides flexible co-working laboratory spaces for their research and development. It also has synergy with ACROMETA's core controlled environments design and construction business.

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

On the MOU with the Thailand company, Mr. Lee said, "A future economy business such as the operation of co-working laboratory space plus its synergy with ACROMETA's current core controlled environments design and construction has the potential to elevate the Group to a higher growth trajectory. It also opens the door for ACROMETA to scale its business, including expansion overseas."

In its 20 February 2023 announcement, the Group also mentioned that it was in talks for the proposed development of a co-working laboratory space in Australia, with world-renowned co-working space operator who has in principle agreed, subject to binding agreement, to be one of the anchor tenants.

For a reference on ACROMETA's controlled environments engineering business, newly-acquired co-working laboratory and its Future Economy + Synergy growth strategy please see: https://www.investor-one.com/editorial/22635-ACROMETA-Future-Economy–Synergy-Higher-Growth-Rate

Reference:
https://links.sgx.com/1.0.0/corporate-announcements/517KQ9GG6NX97RM4/339498d63b4046b7f328cb64347577597f5e686256a6a656d6b8ee4eb6d5126b
https://links.sgx.com/FileOpen/Acrometa%20-%20MOU_210323_Final.ashx?App=Announcement&FileID=750414

About ACROMETA Group Limited (SGX Stock Code: 43F)

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 three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates a 6,500 sq feet co- working laboratory space at The German Centre in Singapore serving SMEs and start-ups.

The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.

The company has been listed on the Catalist board of the Singapore Exchange since 2016.

For more information, please visit www.acrometa.com.

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

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

Proud Investor Relations partner: https://www.shareinvestorholdings.com/ and https://www.waterbrooks.com.sg/

This media release has been reviewed by the Company's sponsor, Evolve Capital Advisory Private Limited (the "Sponsor"). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "Exchange") and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.

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

Impro Precision: 2022 revenue rises by 15% for the first time exceeding RMB 4 billion, four growth pillars to support future development

HONG KONG, Mar 15, 2023 – (ACN Newswire) – Impro Precision (01286.HK), one of the world's top 10 manufacturers of high-precision, high-complexity, mission-critical casting and machined components, reported its 2022 annual financial results. The Company's sales revenue increased by 15.3% year-on-year to HK$4.355 billion (HK$, same below), which is strong growth in view of last year's global economic situation.

The areospace, medical and energy, and diversified industrial end markets are the two growth drivers of the Company

Revenue from the areospace, medical and energy end market grew by 53.6% to $516 million, while revenue from the diversified industrial end market grew by 24.5% to $2.139 billion, which are the two growth pillars of the company. Regarding the automotive end market, revenue decreased slightly by -1.4% to $1.70 billion due to a fire incident at the Nantong plant and a shortage of components in Europe due to the Russia-Ukraine conflict. The Company pointed out that it has strategically shifted the production capacity of the passenger car end market to the commercial vehicle end market, including hydrogen vehicles. In fact, revenue from the commercial vehicle end market increased by 18.7% to $896 million, which basically was able to offset the decline in revenue from the passenger car end market.

Net profit attributable to shareholders increased significantly by 52%, gross profit margin and adjusted operating profit margin continued to improve

Net profit attributable to shareholders for 2022 was $582 million, an increase of 52.0% year-over-year, and adjusted net profit attributable to shareholders for 2022 would have totaled $ 649 million, an increase of 53.7% year-over-year, if a provision for one-time loss from the Nantong plant fire incident and amortization relating to past acquisitions were excluded. The Company's gross profit margin was 29.0%, which was 1.9% higher than 2011 , and adjusted EBITDA operating margin was 28.2%, which was 3.3% higher than last year.

Two successful mergers and acquisitions in 2022 with significant business integration benefits

During a conference on the Company's earnings, the management pointed out that, while continuing to promote the strategy of "global footprint" and "diversified end-market", the "twin growth engine" strategy has also been successfully implemented. In 2022, the Company acquired Foshan Ameriforge, which focuses on the aerospace and energy end markets, and Danfoss Jiangsu, which is engaged in the hydraulic end market. Among them, the integration of Foshan Ameriforge has been highly favorable. This plant is expected to nearly double its sales and improve margins this year. Also, the business integration of Danfoss Jiangsu is progressing well with growth to be realized this year, and still stronger earnings growth expected in 2024. The Company will continue to look for new target companies with the objective of driving integration.

Asian markets will be the Company's third growth pillar

The company said it has seen a rebound in demand from Asian customers from January and February, and could become the Company's fastest-growing region in 2023. In addition, the consolidated results of the two factories acquired in China and the expected gradual resumption of production at the Nantong plant will also push up the sales performance in Asia. As of February 28, 2023, the Group's undelivered orders on hand amounted to $3.98 billion, up 6.2% year-on-year.

Although orders on hand rose slightly by 6.2%, the situation should be more satisfactory, mainly due to the different order patterns of the two newly acquired Chinese companies. Their customers have a shorter order cycle in general, which may not be fully reflected in the orders on hand. It is expected that future growth would remain strong.

The Mexico plants will be the Company's fourth growth pillar

Three plants are in operation at the Group's Mexico SLP Campus. Of these, the precision machining plant, achieved a good profit in 2022, while the sand casting plant posted a bigger loss last year as it was still in the ramp-up phase. Despite this, the Company will accelerate the completion of the SM building of the sand casting plant from Phase II to Phase I due to a significant increase in orders from North American customers that exceeded original expectations. The investment casting plant, which began operations at the end of November last year, is aiming to reach break-even point this year. The fourth aerospace component plant is expected to complete equipment installation in May or June this year, it will begin trial production and obtain aerospace industry certification by the end of 2023, and start ramping up production next year. The fifth surface treatment plant will mainly serve the aerospace industry. Management expects that all five plants in Mexico will enter the first phase of production this year.

Although the Mexico plants are currently experiencing lower profit margins due to being in the ramp-up phase, the Company is optimistic about their potential growth. With the completion of the infrastructure projects of the Mexico plants by the end of this year, the Group's capital expenditure is expected to reduce to $400-500 million, which is similar to the Group's future annual depreciation expenses. While this may put some short-term pressure on the Group's profit margin, the Mexico plants development effectively reduces geopolitical risk thereby further propelling the expansion of the North American market which will create another growth opportunity in the mid to long term.

Two interim dividend distributions in 2022 with an annualized dividend yield of approximately 5.39%

With the Group's growth in profit, solid financial position and healthy cash flow in 2022, the Company announced its plan to distribute dividends at a rate of approximately 46% of the adjusted earnings per share. The second 2022 interim dividend is 8.0 HK cents per share, and the dividend for the year amounted to 16.0 HK cents per share, showing a remarkable increase of 58.4% compared with the previous year. Based on the share price on the day of the results announcement, the annualized dividend yield is approximately 5.39%. Like other Hong Kong blue-chip companies practice, the Company has been distributing interim dividends twice a year since 2021. This practice allows for the distribution of dividends in a faster manner, providing shareholders with an early return on their investment.


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

Asia Allied Infrastructure Concludes HK$1.1 Billion 3-Year Term Loan Agreement

HONG KONG, Mar 14, 2023 – (ACN Newswire) – Asia Allied Infrastructure Holdings Limited ("Asia Allied Infrastructure", "AAI", or "the Group") (stock code: 00711) is pleased to announce that it has entered into a HK$1.1 billion term loan agreement with 6 banks. Part of the loan will be used to refinance the loan portfolio of the Group, while the rest will be used to support future operations and development. This facility will enhance the Group's financial flexibility and financing capability, as well as fully reflect the Group's future business development strength and potential.

The 3-year facility carrying an interest rate of HIBOR+1.65% was arranged by The Hongkong and Shanghai Banking Corporation Limited, Bank of Shanghai (Hong Kong) Limited, China Construction Bank (Asia) Corporation Limited, CMB Wing Lung Bank Limited, Chong Hing Bank Limited and The Bank of East Asia, Limited.

Mr. Dominic Pang, Chairman of Asia Allied Infrastructure, said, "We would like to express our sincere appreciation to the banks for their continual trust and support to AAI, it means a lot to us. The new loan facility shows the banking community's confidence in the Group's strong fundamentals and development strategies. Riding on AAI's long-established strong business foundation, industry experience and healthy financial position, we will continue to capture market opportunities and do our best to enhance shareholders' value and return."

Asia Allied Infrastructure Holdings Limited (stock code: 00711.HK)
Asia Allied Infrastructure Holdings Limited ("Asia Allied Infrastructure") is listed on the Main Board of the Hong Kong Stock Exchange under stock code 00711. The Group operates businesses such as construction engineering and management, property development and assets leasing, security and facility management, tunnel management, non-franchised bus services, as well as medical technology and healthcare. Its subsidiary "Chun Wo" is a renowned construction contractor and property developer in Hong Kong. Chun Wo's solid construction experience and professional capabilities have enabled the Group to seize suitable development opportunities, allowing the Group to enhance its overall profitability and investment value.


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Zero Waste & Low Energy Lithium Processing Provisional Patent Filed & Proposed Plant Engineering Study Initiated

MONTREAL, QUEBEC, Mar 7, 2023 – (ACN Newswire) – St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to announce that it has filed a provisional patent covering a new breakthrough achieved in the spodumene processing and lithium hydroxide production technologies.

Highlights
– 92% of Nitric acid recirculated into hydrometallurgical process Resulting in Zero Waste Lithium Production
– Continuous reaction in saturated solution growing lithium crystals with no energy added
– Significant cost savings
– 98% recovery of Lithium in spodumene with 99% purity in Lithium Hydroxide Crystal
– Improved optionality to process multiple sources of feedstock using the same process
– Lithium Production Plant Engineering Study Initiated with WSP
– Spodumene Concentrate Feedstock discussions underway with 3 potential clients.

Over the last few years, St-Georges' metallurgical team has been developing a process using material from multiple mining sources which allows the production of lithium hydroxide and lithium metals from hard rock spodumene concentrates. Our unique approach allows for all the nitric acid used in the process to be either recirculated or amalgamated into fertilizer by-products. Because the majority of the acid is being recirculated, what is left in the waste product is of no significance and thus requires little to no neutralizing before it can be sold to cement and asphalt producers. Thus, the process produces no tailings and monetizes all the input materials making it one of the greenest processes on the market today.

Tests have shown that an average of 92% of the nitric acid used in our process gets recirculated and The Company's metallurgists believe that with ongoing testing this could be improved to a theoretical limit of 95% by reducing the humidity level during prior stages of the process.

Other improvements to various aspects of the processing technology not only represent major energy saving in the pretreatment phase of the process, but also in the production of battery grade lithium hydroxide and lithium metal from other hard rock sources that traditionally require heavy heat and energy input to break down the material. However, the most significant cost savings come from the fact that St Georges can produce 99.99% pure Lithium Hydroxide in one step after novel treatment of the lithium in solution through the use of an electro-winning method, thus omitting the need to ship lithium concentrates to a third party for refining. It also gives North America a solution for hard rock resources.

It is important to note that the technology can also be used with lepidolite, petalite and zinnwaldite, leveraging the improvements to the calcination treatment and has been incorporated into this patent application.

Applications to Battery Recycling

The technology was also tested with Lithium and with Lithium-Iron-Phosphate used batteries with significant novel improvements and costs reductions, improving the recovery of the strategic mineral and the commercial viability of the operation by magnitudes.

"I believe this process bridges the gap between the good brines and hard rock resources available around the world. In Canada, we have made large efforts and investments and have yet to achieve a viable solution which is why I am very excited by the progress achieved from our team because we believe we have the solution to unlock North American hardrock lithium resources. In saying that, we view ourselves as a complement to the industry and look forward to working with our peers to help advance lithium projects and meet the growing demand. On a personal note I believe resources should be evaluated for their resource and technology. By combining the right options billions of dollars can be saved," said Enrico Di Cesare, CEO of St-Georges Metallurgy Corp.

"Until now, developers of lithium projects and spodumene concentrates producers might have perceived us as just another novel process using different acid mix and a few other witty twists… moving forward, it will become difficult for everyone planning a production project to ignore the potential savings in building and operating a plant that won't require much energy… after the reaction is started there is no electrolysis and no additional heat applied, the saturated solution just grows lithium crystal as long as feedstock is added… I can't imagine a simpler tech to operate," commented Frank Dumas, COO of St-Georges Eco Mining Corp.

Lithium Processing plant

Now that The Company has completed the review of the engineering concepts supporting the design and building of a hybrid lithium hydroxide and lithium metals plant, St-Georges has contracted WSP to model the process and establish capital costs associated with the tech plant.

We look forward to updating shareholders upon the completion of the study.

Feedstock Agreements Under Discussion

Currently, St-Georges is awaiting the arrival of 3 different shipments of approximately 200 kg each of spodumene concentrates from companies operating spodumene mines in South African countries. Once received, The Company will process this material and use the data obtained to negotiate a fair profit-sharing agreement with the producers of the concentrates.

Additionally, The Company is in talks with several different producers, developers and mineral explorers to secure spodumene concentrate. As developments occur, updates will be provided.

Nickel & Chromium Developments

St-Georges' metallurgists received the results of additional independent tests conducted with one of its contracted facilities in Ontario in relation to its Nickel and Chromium research and development.

The Company produced stainless steel in a single step from material obtained from spent batteries and nickel from mineral resources.

St-Georges is in continuous development for customized solutions for different battery recycling with these initiatives currently completed:

– Spodumene lithium process that works with lithium-ion batteries and can combine mineral resources and battery recycling efficiently with no tailings or output footprint.
– Alkaline batteries have been optimized for fertilizer and new results show that they can be converted to ferro manganese using renewable carbon resources like char.
– Nickel cadmium batteries were successfully converted to ferro nickel and stainless steel.

The latter is a major improvement and warrants further work with our resources and complementary resources such as chromium besides the battery recycling initiatives.

All the testing work was carried out by independent laboratories.

Further work is being initiated for other hydrometallurgical options potentially more efficient in different geographical regions, such as Italy with The Company's potential partner Arabat that is using orange peels and other by products of orange juice production.

ON BEHALF OF THE BOARD OF DIRECTORS
Frank Dumas
Director & COO

About St-Georges Eco-Mining Corp.

St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full circle EV battery recycling. The Company explores for nickel & PGEs on the Julie Nickel Project and the Manicougan Palladium Project on Quebec's North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and on the OTCQB Venture Market for early stage and developing U.S. and international companies under the symbol SXOOF. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com Visit St-Georges' web site at www.StGeorgesEcoMining.com

The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.

SOURCE: St-Georges Eco-Mining Corp.

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

SCIB Awarded RM20.65 million Project to Rebuild School

KUCHING, MALAYSIA, Mar 2, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Group's wholly-owned subsidiary, SCIB Industrialised Building System Sdn. Bhd., has secured an engineering, procurement, construction, and commissioning (EPCC) contract from Jabatan Kerja Raya Sarawak (JKR) valued at RM20.65 million for the rebuilding of Sekolah Daif in Tebedu, Serian.
En. Rosland bin Othman, Group Managing Director and Chief Executive Officer of SCIB


The contract has a duration of 24 months and comes under the third phase of the Sarawak government's RM1 billion allocation for dilapidated schools.

Rosland bin Othman, Group MD and CEO of SCIB (Link) Group Managing Director of SCIB, Encik Rosland bin Othman said, "This project from JKR is part of the nationwide programme to rebuild or renovate dilapidated schools, especially in rural areas where children already face challenges from lack of infrastructure. The Group's construction arm has lots of experience in operating EPCC projects while our background as a specialist in small-to-mid-sized rural infrastructure works covering roads to schools and hospitals ensures that we are well-versed in projects of this nature."

"The Group will continue to seek projects where we can leverage our expertise as the leading precast concrete and IBS manufacturer in East Malaysia. There are opportunities for us under the recently re-tabled Budget 2023, in which Sarawak was allocated RM5.6 billion and Sabah allocated RM6.5 billion. We also note with interest the RM920 million set aside for dilapidated schools in both states."

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

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

TANAKA Strengthens Electrical Contact Supply System in China by Making Metalor’s Subsidiary in China a Wholly Owned Subsidiary to Enhance Production Capabilities

TOKYO, Mar 2, 2023 – (ACN Newswire) – TANAKA Kikinzoku Kogyo K.K. (Head office: Chiyoda-ku, Tokyo; Representative Director & CEO: Koichiro Tanaka), one of the core companies of the Tanaka Precious Metals group based in Japan, announced today that it acquired all shares of Metalor Electrotechnics (Suzhou) Ltd. (hereafter, "Metalor Suzhou") held by its group company Metalor Technologies International SA (hereafter, "Metalor") on April 1, 2023. Metalor Suzhou is Metalor's subsidiary in China, and this acquisition of shares makes Metalor Suzhou a wholly-owned subsidiary of TANAKA Kikinzoku Kogyo. The subsidiary has been renamed METALOR TANAKA Electrical Materials (Suzhou) Ltd., and its system of directors will be changed.
Metalor Electrotechnics (Suzhou) Ltd. (From April 2023, METALOR TANAKA Electrical Materials (Suzhou) Ltd.)


Reasons for the Acquisition of Metalor Suzhou's Shares

In recent years, there have been increasing needs from major Chinese customers for local production of electrical contacts in China. Therefore, TANAKA aims to continuously expand business in China by integrating TANAKA Kikinzoku Kogyo's production knowledge with Metalor Suzhou's resources to expand production capabilities and build a system for stable supply. Furthermore, it will be an essential base for business expansion, using TANAKA's network to open new markets and gain new customers in Asia, which has prominent market growth. In 2024, a portion of TANAKA Kikinzoku Kogyo's electrical contact-related products will be transferred, and mass production will commence. It is expected that the new company's sales will double by 2030.

In addition, the system will be capable of supplying a broader range of products through collaboration with group company TANAKA Kikinzoku (Ningbo) Co., Ltd., which manufactures silver electrical contacts used in automotive components.

About Metalor Suzhou

Metalor Suzhou commenced operations in 2006 as Metalor's base for the manufacture and sales of electrical contacts for Asia and China. The company manufactures and sells electrical contacts and contact assemblies used mainly in circuit breakers and contactors. In 2014, the Metalor Suzhou plant was relocated to its current location in Wuzhong, Suzhou.

Outline of New Company (from April 2023)
– Company Name: English: METALOR TANAKA Electrical Materials (Suzhou) Ltd.
– Chairman (Representative Director): Tomoyuki Tada
– Location: 888 Wusong Road, Wuzhong Economic and Technological Development Zone, Suzhou, China
– Activities: Manufacture and sales of electrical contacts/wires and contact assemblies

About TANAKA Precious Metals

Since its foundation in 1885, TANAKA Precious Metals has built a portfolio of products to support a diversified range of business uses focused on precious metals. TANAKA is a leader in Japan regarding the volumes of precious metals handled. Over the course of many years, TANAKA has not only manufactured and sold precious metal products for industry but also provided precious metals in such forms as jewelry and assets. As precious metals specialists, all Group companies in Japan and around the world collaborate and cooperate on manufacturing, sales, and technology development to offer a full range of products and services. With 5,225 employees, the Group's consolidated net sales for the fiscal year ending March 31, 2022, were 787.7 billion yen.*
*From the current consolidated fiscal year, the amounts of sales for some transactions are indicated as net values due to the application of the Accounting Standard for Revenue Recognition.

Global industrial business website
https://tanaka-preciousmetals.com/en/

Product inquiries
TANAKA Kikinzoku Kogyo K.K.
https://tanaka-preciousmetals.com/en/inquiries-on-industrial-products/

Press inquiries
TANAKA Holdings Co., Ltd.
https://tanaka-preciousmetals.com/en/inquiries-for-media/

This press release in PDF: https://www.acnnewswire.com/docs/files/20230228_EN.pdf

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

SCIB Posts Higher Revenue of RM66 Million in 1H FY2023

KUCHING, MALAYSIA, Feb 27, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Group's revenue increased by 2.6% to RM66.3 million for the six months ended 31 December 2022 (1H FY2023) compared with RM64.6 million registered in the corresponding period of the previous financial year (1H FY2022).
En. Rosland bin Othman, Group Managing Director and Chief Executive Officer of SCIB


The Company recorded a narrower loss before tax (LBT) of RM3.7 million in 1H FY2023 compared with LBT of RM4.0 million in 1H FY2022.

For the second quarter ended 31 December 2022 (2Q FY2023), the Company's revenue decreased 5.6% to RM36.0 million compared with RM38.1 million in 2Q FY2022, while LBT widened to RM2.8 million compared with RM1.3 million reported in 2Q of the previous financial year.

Revenue contribution from the manufacturing business increased 6.9% to RM45.7 million in 1H FY2023 compared with RM42.8 million in 1H FY2022, while revenue contribution from the engineering, procurement, construction, and commissioning (EPCC) business decreased marginally to RM20.2 million compared with RM21.4 million. For 2Q FY2023, the manufacturing business contribution to revenue decreased to RM21.6 million compared with RM23.7 million in 2Q FY2022, while EPCC business revenue contribution remained stable at RM14.0 million.

Group Managing Director of SCIB, Encik Rosland bin Othman said, "Our key manufacturing arm, the leading precast concrete and Industrialised Building System (IBS) producer in Sarawak and Sabah, continues to be the mainstay in terms of revenue contribution. Manufacturing saw an increase in profit before tax (PBT) to RM2.0 million in 1H FY2023 compared with RM0.3 million in 1H FY2022 while manufacturing PBT for the current quarter under review doubled to RM1.0 million compared with RM0.5 million in the corresponding quarter last year."

"The Malaysian economy began 2023 with good momentum, as the economic outlook gradually improves following strong growth in 2022. The construction sector grew 8.8% for the whole of 2022 supported by all subsectors, with the civil engineering subsector turning around to positive growth of 2.7%. Based on these latest developments, we are cautiously optimistic and will continue to leverage on our strength as the leading precast and IBS manufacturer in Sarawak and Sabah complemented with our track record in EPCC projects to bid for jobs."

As of January 2023, the Company has an order book of RM387.96 million with earnings visibility until 2026.

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

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