Minetech Posts 58% Gain in 3Q Revenue to RM36 Million

KUALA LUMPUR, Feb 23, 2023 – (ACN Newswire) – Minetech Resources Berhad, a civil engineering specialist and bituminous products manufacturer, today announced that the Company registered a 58.6% gain in revenue to RM36.3 million for the third quarter ended 31 December 2022 (3Q FY2023) compared with revenue of RM22.9 million in 3Q FY2022.

Matt Chin, Executive Director of Minetech

For the quarter under review, the Company recorded profit before tax (PBT) of RM0.2 million compared with loss before tax (LBT) of RM3.1 million while EBITDA has recorded its highest improvement of 166% compared to 3Q FY2022.

By segment, the civil engineering division registered a 41% rise in revenue to RM22.0 million in 3Q FY2023 compared with RM15.6 million in the corresponding quarter of the previous financial year. The bituminous products division's revenue grew by a significant 150% to RM10.0 million compared with RM4.0 million while the services division recorded a 60% increase in revenue to RM3.2 million compared with RM2.0 million.

For the nine months ended 31 December 2022 (9M FY2023), the Company registered a 45.3% increase in revenue to RM87.3 million compared with RM60.1 million in the corresponding period of the previous financial year. LBT narrowed significantly by 76.2% in 9M FY2023 to RM2.9 million compared with RM12.2 million in 9M FY2022.

Matt Chin, Executive Director of Minetech, said, "The Company is on the right growth path as we continue to see our losses narrow on significantly higher revenue contributions from the civil engineering and bituminous products divisions. We are also seeing a recovery in the services division and the food and beverage division is starting to contribute too."

"Following our two-pronged strategic focus in 2020, the Company diversified into areas that can support financial performance while at the same time, transforming and rationalising the business. Our ventures now include financial technology and renewable energy, areas that have long-term growth and that can provide recurring income."

"The Company is cautiously optimistic for the coming quarters given that the Malaysian construction sector expanded 8.8% in 2022, with all subsectors registering growth according to data from the Statistics Department. Notably, there was 20.8% growth in the civil engineering subsector in 4Q while the non-residential buildings subsector expanded 19.0% and special trade activities subsector grew 12.7%."

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

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

JE Cleantech (JCSE) Partners with Singapore-based Deep Tech Manufacturer to Develop Autonomous Cleaning Robots, Expands into Robotics Market

SINGAPORE, Feb 20, 2023 – (ACN Newswire) – JE Cleantech Holdings Limited (Nasdaq: JCSE), (the "Company"), a Singapore-based cleantech company, today announced that it has entered an exclusive partnership with a leading Singapore-based deep tech robot developer, through its subsidiary JCS-Echigo Pte Ltd. As part of the joint venture, JE Cleantech will develop a family of commercial cleaning robots, representing its expansion into the robotics market.

JE Cleantech is the leading manufacturer of precision cleaning systems in Singapore, with customers in a wide range of sectors, including cleaning and equipment manufacturing for hard disk drives, semiconductors, biomedical, food and beverage, and industrial electronics companies, and most recently tech hardware. The entry into this new sector continues to demonstrate JE Cleantech's ability to apply its expertise to different sectors to scale and support its growth.

Specifically, under this partnership, JE Cleantech will provide product specifications, cleaning and vacuum technology, manufacturing and production of robots as well as international and local marketing. Its partner will integrate JCS-E's cleaning technology with its autonomous robot platform and cloud-based fleet management system, and will provide specialty electronics as well as robotic engineering to create a new cleaning robot that is set to surpass many of today's existing solutions.

Low-speed commercial robots for the last mile, inter-building (via sidewalks), and intra-building have a global market potential of more than USD 100 billion per year and a potential of SGD 1 billion in Singapore. Factors such as the increasing demand for automatic cleaning, the development of hygienic solutions to disinfect floors, as well as an optimistic economic outlook, and positive demographics in APAC are driving forces for the market's growth.

"We are excited to enter the new robotics market to develop advanced commercial cleaning robots. With years of experience and a stable and mature performance, our cleaning technology will provide our customers with an exceptional autonomous cleaning solution. It demonstrates our continuous efforts and determination in striving for sustainable growth as well as confidence in the positive prospects of the cleaning market. Looking ahead, we will keep proactively widening our product offerings, exploring new markets, and dedicate ourselves to bringing sustainable returns to our shareholders and investors in the long run," said Ms. Bee Yin Hong, CEO and Founder, JE Cleantech.

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

Southern Score Builders Posts RM59 Million Revenue in 2Q

KUALA LUMPUR, Feb 20, 2023 – (ACN Newswire) – Southern Score Builders Berhad (Bursa: SSB8, 0045), a provider of construction management services mainly for high-rise residential buildings, had announced today that the Group registered revenue of RM59.35 million for the second quarter ended 31 December 2022 (2Q FY2023).

Executive Director and Chief Executive Officer of Southern Score Builders, Gan Yee Hin

The Group recorded a loss before tax (LBT) of RM0.43 million in 2Q FY2023. The LBT recorded was mainly due to a one-off reverse acquisition expense amounting to RM14.63 million incurred as part of the regularisation plan which was completed on 9 November 2022. If not for the reverse acquisition expense, the Group would have recorded a profit before tax (PBT) of RM14.2 million in 2Q FY2023.

Due to the regularisation plan, there is no comparison with the corresponding quarter of the previous financial year.

For the six months ended 31 December 2022 (1H FY2023), Southern Score Builders registered revenue of RM110.47 million and PBT of RM9.46 million. The Group would have registered PBT of RM24.09 million for 1H FY2023 if not for the reverse acquisition expense incurred under the regularisation plan.

The Group remains in a solid financial position to pursue its growth and expansion plans, with cash and cash equivalents balance at the end of 1H FY2023 amounting to RM108.22 million.

Executive Director and Chief Executive Officer of Southern Score Builders, Gan Yee Hin said, "We are optimistic for the outlook of the Group based on the ongoing projects and the Group's potential to secure new projects in the coming quarters. We believe the growth momentum of the domestic construction sector will continue after having expanded 8.8% in 2022 according to the latest figures from the Department of Statistics Malaysia."

"The Group has participated in a number of public and private sector tenders and is also exploring opportunities in other projects that could yield long-term and sustainable revenue. The strategic focus remains expanding our construction services while leveraging on our expertise and business network. As part of the future plans, we are also venturing into the manufacturing of Industrialised Building System products as we see demand growing from the construction sector."

"Taking into consideration the Group's prospects, the Group is likely to achieve the targeted profit over the profit guarantee period which is a cumulative net profit guarantee of RM80.0 million over the three-year period from 2022 to 2024 provided by the vendor, Super Advantage Property Sdn Bhd under the regularisation plan. This guarantee is intact and well on target."

In a separate announcement to the stock exchange, the Group's Board of Directors declared an interim dividend of 1 sen per ordinary share for the financial year ending 30 June 2023 to be paid out on 18 April 2023 with an ex-date of 28 March 2023.

Southern Score Builders Bhd: 0045 [BURSA: SSB8], https://southernscore.com.my/

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

ACROMETA Acquires Controlling Stake in Co-Working Lab Space Company Life Science Incubator (LSI)

SINGAPORE, Feb 20, 2023 – (ACN Newswire) – ACROMETA Group Limited [SGX: 43F], an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, has entered into a legally binding letter of intent (LOI) to purchase an additional 40% of the outstanding shares of Life Sciences Incubator Pte Ltd (LSI) for a total consideration of S$1.6 million payable in tranches, based on realization of agreed milestones in its immediate expansion plan. Upon completion of the purchase, the Group will control 70% of LSI, up from the current 30%.

LSI currently operates a 6,500 sq feet co-working laboratory space at The German Centre in Singapore serving SMEs and start-ups. Launched in September 2021, LSI at German Centre garners very healthy occupancy rates within a year of operations. Fueled by strong demand, as more and more companies conduct R&D to bring innovative products into the market, LSI is looking to expand in Singapore as well as in the region.

The additional stake will add another dimension of growth to the Group's business as it becomes not only a builder of laboratories but also an operator of co-working laboratory space.

"This potentially carves out a new promising mainstream business for us as controlled environment specialist", says ACROMETA Executive Chairman, Mr Levin Lee Keng Weng. Levin Lee added, "I am glad that ACROMETA, through LSI, can play a vital role in supporting the R&D of startups and SMEs, where their innovation and new discoveries will make the world a better place for us to live in. Our co-working laboratory spaces will make it easier for their dreams to come true."

The co-working laboratory space business has strong growth potential locally as Singapore transforms its economy towards high-value sectors 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.

With access to communal state-of-the-art specialized equipment, technologies and facilities as well as event and office spaces, this enables start-ups and SMEs to innovate and conduct their cutting-edge R&D without having to shoulder the prohibitive costs involved if they were to install such specialized infrastructure by themselves.

By collocating in The German Centre and working closely with them, LSI is also able to provide complementary office spaces and meeting rooms when needed, forming an ideal partnership of both co-working office and laboratory space. The German Centre is a worldwide network which supports businesses by providing offices with specialized co-working office space, advice and networking for startups and SMEs. It is renowned for its German DNA of efficiency and quality. Therefore, the Group is exploring further collaboration with The German Centre in the expansion plans of LSI.

"We have also strategized Australia as our first foray overseas for LSI and we are excited to be there, where we believe there is a sizeable market to capture for the co-working lab space business! We have found a suitable location and on grounds of confidentiality, we are in talks with a renowned global government-linked company who has in principle agreed, subject to a binding agreement, to be one of the anchor tenants for the proposed LSI Australia site," said Levin Lee.

LSI's co-working laboratory spaces business will provide the Group with another income stream that complements its controlled environments engineering business which is largely project based.

Chief Executive Officer Mr Lim Say Chin said, "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."

This Media Release is to be read in conjunction with the announcement on SGXNet on 20 February 2023.

SGX Reference:
https://links.sgx.com/1.0.0/corporate-announcements/8K6I1R6WOZ24M4FK/ab8c8ef9ddf08cff61c306ff3ddc6f4ab713ea17cfdc85571c2c4058f9468862

About ACROMETA Group Limited [SGX: 43F] [BIC: ACRO:SP] [RIC: ACRO.SI]

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 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

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

SGX-Listed Mooreast Signs Agreement with ETZ Ltd in the Presence of Scottish Minister Mr Ivan McKee to Explore Establishing Manufacturing Facility in Aberdeen to Support Floating Offshore Wind Energy Projects

SINGAPORE, Feb 20, 2023 – (ACN Newswire) – Singapore Exchange Catalist-listed Mooreast Holdings Ltd. ("Mooreast" or the "Group") signed a Collaboration Agreement (the "Agreement") to explore establishing a manufacturing facility in Aberdeen, Scotland for the production of subsea foundations, as well as consolidation and assembly of mooring components for the floating offshore renewable energy sector.

Mr Sim Koon Lam, CEO of Mooreast (right), alongside Mr Andy Rodden (left), Director, Offshore Renewables of ETZ Ltd, signed a Collaboration Agreement in the presence of Mr Ivan McKee (centre), Minister for Business, Trade, Tourism and Enterprise to explore establishing a manufacturing facility in Aberdeen, Scotland

Pursuant to this Agreement, the mooring and rigging solutions leader will work with ETZ Ltd ("ETZ"), a private sector-led not-for-profit company spearheading the energy transition ambitions of Northeast Scotland by supporting the creation of a hub to protect the Scottish renewable sector whilst facilitating job creation.

Signed in Singapore together with ETZ Offshore Renewables Director, Mr Andy Rodden, and witnessed by Mr Ivan McKee, Scotland's Minister for Business, Trade, Tourism and Enterprise, the facility is projected to be more than double the floor space and output of the Group's Singapore facility at 51 Shipyard Road.

It will support Mooreast's efforts to target an increasing number of offshore wind projects emerging in Europe. High-profile projects include the ScotWind auction, The Celtic Sea Cluster and the Innovation and Targeted Oil and Gas (INTOG) project, which are expected to deliver over 20GW, 5 GW and 4.5GW of floating wind energy, respectively. As part of its strategy to capture such opportunities, the Group incorporated Mooreast UK Co Limited ("Mooreast UK") in July 2022.

Based on the Agreement, Mooreast and ETZ will work closely on the following areas, amongst others, to help secure a positive outcome in terms of:

– Developing a preferred site plan to meet the requirements of Mooreast that is compatible with local planning regulations, development requirements and site limitations.
– Delivering a jobs and skills plan to secure a workforce ready to support the effective operation of a facility whilst creating employment opportunities for local communities aligned with just transition principles.
– Facilitating introductions to key local supply chain companies required to support the start-up and future operation of the preferred site.

Mr Sim Koon Lam, CEO of Mooreast, said: "We are honoured to have Mr Ivan McKee grace this event. Upon completion, the facility will serve as a cornerstone of Mooreast's expansion into Europe, and will enable us to produce high-quality products and services for our renewable energy customers in the region."

Scottish Government Minister for Business, Trade, Tourism and Enterprise, Ivan McKee, said: "It is great to witness the signing of this Collaboration Agreement. As the world's largest floating offshore wind leasing round, ScotWind puts us at the forefront of the global development of offshore wind and represents a massive step forward in our transition to net zero.

As set out in our National Strategy for Economic Transformation and our Inward Investment Plan, it is critically important that we work closely with inward investors by offering our unique 'Team Scotland' approach to support their growth and expansion into Scotland, enabling us to deliver inclusive economic prosperity."

ETZ Ltd Offshore Renewables Director, Andy Rodden, said: "Mooreast's intention to explore establishing significant operations in Aberdeen is warmly welcomed and a testament to the critical mass this region has in the skills and expertise required to support such an exciting development.

"Owing to a world-class oil and gas sector, our region is home to 75% of the world's subsea engineering capability and the highest concentration of energy supply chain companies anywhere in the UK. ETZ Ltd's role is to harness these competitive strengths and accelerate diversification in order to retain that global status as a sustainable and long-term-industry cluster for new and green energies.

We are at the very early stages of this particular process but this potential development reflects the type of investment that will help us realise this ambition. I'm therefore delighted that ETZ Ltd, which has a key role as a catalyst to attract investment to the region, will be working closely with Mooreast on a range of areas as we seek to secure a positive outcome."

Mooreast has appointed Mr Barry Silver as Managing Director of Mooreast UK. He brings over 24 years of business, technical and operational experience in offshore energy markets, and will be responsible for establishing and managing the Group's facility, as well as business development to support Mooreast's international growth.

Mr Sim added: "We welcome Mr Barry Silver to the Mooreast team. His deep domain knowledge, extensive experience, and strong leadership skills will be a valuable asset in bringing the Group to the next level, as we continue to capture opportunities in the offshore renewable energy industry."

About Mooreast Holdings Ltd.

Mooreast is a total mooring solutions specialist, serving mainly the offshore oil & gas ("O&G"), marine and offshore renewable energy industries, with operations primarily in Singapore, and through its wholly-owned subsidiary, Mooreast Europe, a European sales office in Rotterdam, the Netherlands.

Mooreast's solutions include the design, engineering, fabrication, supply and logistics, installation and commissioning of mooring systems. Mooreast is applying its experience and expertise in mooring solutions to floating renewable energy projects, in particular floating offshore wind farms. It has successfully participated in developmental and prototype projects for floating offshore wind turbines in Japan and Europe. For more information, please visit https://mooreast.com/

About ETZ Ltd

ETZ Ltd ("ETZ") is a not-for-profit organisation operating on the basis of no commercial gain and with one over-riding goal – to protect and create as many jobs as possible ensuring a sustainable and vibrant future for the North East of Scotland and the people who live and work here. ETZ Ltd will is supporting the creation of a world-leading hub for renewable energies – offshore wind, hydrogen, carbon capture and storage – establishing a sustainable cluster of activity, jobs and skills. For more information, please visit www.etzltd.com

Media & Investors:
WeR1 Consultants Pte Ltd
Isaac Tang, e: mooreast@wer1.net, m: +65 9748 0688

This press release has been prepared by the Company and its contents have been reviewed by the Company's sponsor, W Capital Markets Pte. Ltd. (the "Sponsor"). This press release has not been examined or approved by the Singapore Exchange Securities Trading Limited (the "SGX-ST") and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Ms Sheila Ong, Registered Professional, W Capital Markets Pte. Ltd., at 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 6513 3541.

Issued for and on behalf of Mooreast Holdings Ltd. by WeR1 Consultants Pte Ltd.

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

Aneka Jaringan Shareholders Approve All Resolutions at 4th AGM

KUALA LUMPUR, Feb 16, 2023 – (ACN Newswire) – Aneka Jaringan Holdings Berhad (Bursa: ANEKA, 0226), a basement and foundation construction specialist, announced that shareholders have approved all resolutions at the 4th Annual General Meeting (AGM) of Aneka Jaringan held today on a virtual platform.

Managing Director of Aneka Jaringan, Pang Tse Fui

Shareholders received the audited financial statements for the Financial Year Ended 31 August 2022 together with the reports of the directors and auditors contained therein. Shareholder passed resolutions to re-elect Dato' Noraini binti Abdul Rahman and Wee Kee Hong to the Board of Directors and approved the payment of directors' fees and benefits of up to RM220,000 from 17 February 2023 until the conclusion of the next AGM.

Other resolutions passed included the re-appointment of Baker Tilly Monteiro Heng PLT as the Group's auditor, as well as authorising the Board of Directors to fix its remuneration. Shareholders also approved the authority for the Board of Directors to issue shares and approved the proposed new mandate for recurrent related party transactions of a revenue or trading nature.

Managing Director of Aneka Jaringan, Pang Tse Fui said, "We would like to thank shareholders for their continued support and confidence in us as the Group continues to secure new contracts in Malaysia while expanding in Indonesia. We have secured RM59.8 million in contracts in Financial Year Ended 2023 and have increased capacity in Indonesia as we seek to leverage on the country's infrastructure needs that include its new capital of Nusantara."

"The Group is cognisant of the risks and challenges that continue to affect the construction sector. Energy, labour and raw material prices remain areas of concern and the Group has taken steps to mitigate these risks such as replacing 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

Agreement with Altima to Produce Cheap & Clean Hydrogen in Alberta & British-Colombia

MONTREAL, QUEBEC, Feb 14, 2023 – (ACN Newswire) – St-Georges Eco-Mining Corp. (CSE:SX)(OTCQB:SXOOF)(FSE:85G1) is pleased to announce that its subsidiary H2SX and Altima Resources Limited (TSX-V: ARH) have entered into an agreement via a binding term sheet to move forward with the production of cheap and clean hydrogen (ccH2(TM)) in Canada.

Altima has expressed its intention to use H2SX's hydrogen production (ccH2) and nano-carbon technology for the conversion of natural gas originating from gas & condensate wells in Alberta and British Columbia, Canada. H2SX will partner and will work on an exclusive basis with Altima in British Columbia and Alberta in the natural gas domain and for projects and companies that have traditional natural gas production of 65 MMcf/d or less.

In accordance with the provisions of the Terms (ccH2) Altima will issue to H2SX 6,000,000 common shares upon the completion of milestones as set out in the performance shares schedule (the "Performance Shares") below:

– 2,000,000 shares to be issued upon delivery of a preliminary technological engineering report.
– 2,000,000 shares to be issued upon receipt of a detailed engineering report tailored to Altima's initial project.
– 2,000,000 shares upon the delivery of a Preliminary Economical Assessment or a Prefeasibility Study.

These shares will be subject to such further restrictions on resale as may apply under applicable securities laws. The close of the issuance of shares is subject to further review and acceptance by the TSX Venture Exchange.

In addition to the issuance of Performance Shares, Altima has committed to the construction of a hydrogen processing facility utilizing the patented technology. Altima will fund and be co-operator of the hydrogen production plant(s) in relation to the gas wells it currently operates and in the future. One hundred percent of all capital expenditures will be reimbursed to Altima prior to any profit sharing between the joint venture parties.

Altima will be responsible to provide and manage the natural gas input into the joint venture operations and all infrastructures and logistics associated with it and will receive credits for the sale of hydrocarbons to the green hydrogen operation through this producing joint venture.

H2SX and its partner will be entitled to receive a 5% NRR for which a long form royalty agreement (the "Royalty Agreement") will be executed and will be an integral part of the Joint Venture Agreement between the parties; A formal management structure for the anticipated joint venture will be put in place between the parties.

"We look forward to working with H2SX in moving this exciting zero greenhouse gas (CO2) emission hydrogen production technology, into commercialization and for other prospective green tech opportunities that could benefit from utilizing low-cost green hydrogen," said Joe DeVries, President & CEO of Altima Resources.

"Alberta and British Columbia are strategic locations for H2SX. They will benefit from our low-cost, zero greenhouse gas (CO2) emission hydrogen production technology just as we will benefit from the low costs of their natural gas. A perfect synergy between Altima and us for the benefit of all. The production of cheap and clean hydrogen will spark a multitude of other opportunities such as the production of methanol, ammonia, or fertilizers (urea) with a very low environmental footprint. We can only be excited to start this collaboration with Altima as soon as possible," said Sabin Boily, CEO of H2SX.

ON BEHALF OF THE BOARD OF DIRECTORS
"Frank Dumas"
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

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 Terminates Indonesian Project

KUCHING, MALAYSIA, Feb 14, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company's wholly-owned subsidiary, SCIB International (Labuan) Ltd. (SCIBILL), has issued a notice of termination to PT Cipta Multi Sarana (PTCMS) for the proposed engineering, procurement, construction and commissioning (EPCC) project involving earthworks for the Prabumulih-Muara Enim tolled road located in Sumatera, Indonesia valued at RM55.59 million.

Group MD and CEO of SCIB, Encik Rosland bin Othman

SCIBILL, which accepted a letter of award for the EPCC project on 18 August 2020 from PTCMS, has decided to take the necessary measures to protect its interests following the lack of progress in the project arising from uncertainties related to the COVID-19 pandemic and in view of the initiatives being taken to review and update SCIB's order book records.

SCIBILL and PTCMS have mutually agreed to terminate the contract and unconditionally release and indefinitely discharge both parties from all claims, liens and obligations of every nature arising out of or in connection with the performance of the works and all amendments thereto, provided that the parties' obligations under a settlement agreement are fulfilled.

Group Managing Director of SCIB, Encik Rosland bin Othman said, "The termination is in the best interests of the Company as there has been no progress on the project. On the part of PTCMS, it has acknowledged that there are no penalties or liquidated ascertained damages on SCIBILL."

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

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

Bintai Kinden Wins RM14.2 Million Project from TNB

PETALING JAYA, Malaysia, Feb 10, 2023 – (ACN Newswire) – Bintai Kinden Corporation Bhd (Bursa: BINTAI, 6998), a mechanical and electrical (M&E) engineering services specialist, is pleased to announce that the Company's wholly-owned subsidiary, Kejuruteraan Bintai Kindenko Sdn Bhd (KBK), has been awarded a project worth RM14.2 million by Tenaga Nasional Berhad (TNB) for the installation of two 132kV transformer bays air insulated switchgear complete with the relevant primary, secondary, cables and all associated civil works located in Pasir Besar, Negeri Sembilan.

Executive Director of Bintai Kinden, En. Azri Azerai

The project's scope of work also includes a 33kV building, two 300kVA 33/0.415kV local transformers, 33kV GIS single busbar (eight outgoing, two incomer, two local transformers and two bus-ties), 33kV CRP, 33kV RTU, 33kV SIP and 33kV MPE, neutral earthing system, earthing system extension, lightning protection system, associated secondary works (protection & telecontrol) and, associated underground cable works for power transformer, local transformer and bus-tie.

KBK, a specialist in M&E engineering services, was also awarded a project worth RM39.0 million by TNB for the installation of a 132kV underground cable double circuit in late November 2022.

Azri Azerai, Executive Director of Bintai Kinden said, "We are happy to work with TNB as both parties have a working relationship and track record going back some years. The award of the contract is also testament to our expertise and experience in M&E engineering services including design, installation and commissioning.

"Bintai Kinden has in recent years been growing our range of expertise through investments and acquisitions that leverage on our strengths and market network. The Company has mid-to-long-term plans to transform to a multidisciplinary M&E engineering services specialist that also include strategic partnerships like the one we recently inked with Sarawak Consolidated Industries Berhad."

Past TNB projects in which Bintai Kinden has been involved in include the 132kV Kuchai Lama switching station, 132kV MRT Bukit Serdang switching station, 132kV single-circuit underground cable from PMU Galloway to PMU KLCC2 and, 132kV bulk supply connection to KTMB Sentul feeder station. Total unbilled order book under M&E segment of Bintai Kinden is RM143.41 million.

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

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

SCIB and Bintai Kinden in Strategic Alliance

KUALA LUMPUR, Feb 7, 2023 – (ACN Newswire) – Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company had on 6 February 2023 signed a Memorandum of Understanding (MoU) with Bintai Kinden Corporation Berhad to establish a strategic alliance for exploring of business opportunities, securing of new projects and sharing of profits.

Group Managing Director of SCIB, Encik Rosland bin Othman

Executive Director of SCIB, Mr. Ku Chong Hong

Executive Director of Bintai Kinden, En. Azri Azerai

The MoU is a preliminary step the parties are taking as they explore a working relationship and cooperation to combine skills, expertise, capabilities, experience and collectively bid for projects in Malaysia and to set out the principal terms of the arrangement between the parties.

The JV vehicle to be used is SCIB's wholly-owned subsidiary, SCIB Infraworks Sdn. Bhd in which SCIB will retain a 51% stake in the JV while Bintai Kinden will subscribe to the remaining 49%. Bintai Kinden is a mechanical and electrical ("M&E") engineering services specialist listed on the Main Market of Bursa Malaysia, with unique combination of extensive regional experience and local knowledge.

Group Managing Director of SCIB, Encik Rosland bin Othman said, "We welcome this strategic alliance with Bintai Kinden as both parties can leverage each other's strengths and expertise that add value to any projects we are involved in together. SCIB's manufacturing arm, the leading precast concrete and Industrialised Building System products manufacturer in East Malaysia, is already supporting our construction arm in projects throughout the country."

"Our focus on small-to-mid-sized construction healthcare, educational and utility facilities as well as rural infrastructure projects together with investment in technology such as 3D printing and automation are also strengths that we can leverage on for the future JV projects."

Executive Director of SCIB, Mr. Ku Chong Hong said, "This JV brings together two teams with core expertise and knowledge in construction and engineering that will give an edge to projects undertaken together. We expect to see more infrastructure projects in the pipeline as Malaysia's construction sector gains momentum on the back of economic growth."

Executive Director of Bintai Kinden, En. Azri Azerai said, "We look forward to a fruitful partnership with SCIB as we seek opportunities together across the country. Bintai Kinden's core expertise is M&E services, and as a multi-disciplined building and industrial service engineers and specialists, we work in all the major market sectors, from commercial buildings to industrial complexes. We design, install and commission systems that include the full range of engineering services which we believe can complement the JV."

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/
Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

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