Sarawak Consolidated Industries Berhad Provides Further Clarification on LOA from Ennova

KUALA LUMPUR, Jun 13, 2022 – (ACN Newswire) – Sarawak Consolidated Industries Berhad (SCIB), a civil engineering specialist, wishes to clarify further on the Letter of Award dated 7 June 2022 (LoA) granted by Ennova Sdn Bhd appointing SCIB Properties Sdn Bhd (SCIBP) as a sub-contractor to undertake an engineering, procurement, construction and commissioning contract in connection with the Integrated Smart Lamp Pole Replacement project for Dewan Bandaraya Kuala Lumpur (DBKL).


Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman


In addition to the information furnished in the LoA, Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, noted that SCIBP's scope of work included but is not limited to site clearing, excavation and reinforced concrete footing structure, laying all reinforcement concrete, bolts and nuts, and plates on all mild steel structures, with the poles, fittings and accessories to be supplied by Ennova.

"The scope also includes perimeter chain-link fencing works, mild steel gates and erection; earthworks, levelling, setting out, making point, and other related works; mechanical and engineering works such as wiring, switch boxes, connection to conduits, lay ground earth cable and rem as well as installation of monopole."

Ennova is to bear all construction cost of the poles, including the rental of each erected pole in accordance with the agreed rental price between it and DBKL.

"We are unaware of any funding or financing arrangement for the contract by DBKL.

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

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

Lendlease commences construction on 100 MW data centre campus in Japan for Princeton Digital Group

TOKYO, Jun 13, 2022 – (ACN Newswire) – Lendlease and Princeton Digital Group (PDG) today marked the commencement of construction of a 100 MW data center campus with a groundbreaking ceremony in Saitama City, north of Tokyo. This is the first project under Lendlease Data Centre Partners. Lendlease is developing and constructing the core and shell on a built-to-suit basis for PDG, on a long-term lease. PDG will invest in and operate the data center with its mechanical and electrical equipment. This data center will be one of the largest in Japan and is well poised to serve the hyperscale requirements of some of the world's largest cloud, commerce and content companies. The gross development value of the project post completion of all phases will be in excess of A$800 million for Lendlease, while PDG is investing US$1 billion of capital in this new data center.


Andrew Gauci, Lendlease Managing Director, Japan & Head of Telecoms and Data Infrastructure, Asia; Rangu Salgame, Princeton Digital Group Chairman & CEO; Justin Gabbani, Lendlease Chief Executive Officer Asia; and, Varoon Raghavan, Princeton Digital Group Chief Operating Officer (L-R) at the groundbreaking ceremony in Saitama City, Japan.

Artist's impression of the 100 MW data centre in Saitama City, Japan.


Located in Saitama City, 30 km north of central Tokyo, the facility is sited on approximately 33,000 sqm of land in one of the major commercial centers in the Greater Tokyo area. The phased development is planned to deliver more than 60,000 sqm of gross floor area and close to 100 MW of IT capacity.

Japan is the second largest data center market in Asia. Japan and Greater Tokyo are still in the early stages of growth, particularly in terms of entry and expansion of global hyperscalers.

The new facility will be built to the latest hyperscale design and standards, offering enhanced scalability, connectivity and reliability. Kajima Corporation has been appointed as contractor and Nikken Sekkei Ltd designer. This phase will be completed in 2024.

Andrew Gauci, Managing Director of Japan & Head of Telecoms and Data Infrastructure Asia:
"We are excited to commence construction of our first data center project under Lendlease Data Centre Partners, for a Pan-Asia market leader like PDG. This contributes to the Japanese government's plans to increase data capability in the country and improve digital resilience. Data centers is also a key sector for Lendlease and we look forward to accelerating our growth in the data infrastructure sector across our strategic markets."

Rangu Salgame, Chairman and CEO of Princeton Digital Group:
"Today marks an important milestone in PDG's plans in Japan, which is an important and strategic market for our customers. The on-time commencement of construction is a validation of our approach of adopting the right model for each market such as working with leading developers like Lendlease for this project. Our continued track record of delivering on our commitments is a key factor in why PDG is a partner of choice for hyperscalers across the region."

For more information please contact:

Lendlease
Shizuka Aone
Shizuka.Aone@lendlease.com
+81 80 3578 3971

Princeton Digital Group
Pritimukta Sarangi
pritimukta.sarangi@princetondg.com

PRecious Communications for Princeton Digital Group
PDG@preciouscomms.com

About Lendlease
Lendlease is an international real estate group with core expertise in shaping cities and creating strong and connected communities. Our purpose is Together we create value through places where communities thrive. Headquartered in Sydney, Australia, and listed on the Australian Securities Exchange, Lendlease has operations in Australia, Asia, Europe and the Americas, with approximately 8,000 employees internationally. Our core capabilities are reflected in our operating segments of Development, Investments and Construction. For more information, please visit: www.lendlease.com

About Princeton Digital Group
Princeton Digital Group (PDG) is a leading developer and operator of Internet infrastructure. Headquartered in Singapore with presence and operations in China, Singapore, India, Indonesia, and Japan, its portfolio of data centers powers the expansion of hyperscalers and enterprises in the fastest-growing digital economies across Asia. For more information, www.princetondg.com or follow us on LinkedIn (www.linkedin.com/company/princetondg/).

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

Ching Lee Holdings Limited (3728.HK) invests HK$24 million to develop To Kwa Wan property project

HONG KONG, Jun 6, 2022 – (ACN Newswire) – Ching Lee Holdings Limited, stock code 3728.HK ("Ching Lee" or "The Group") entered into a definitive joint venture agreements(1) with five partners(2) in early April and has agreed to set up a Project Company(3), with a proportional contribution of HK$24 million to share in the form of 20% equity, jointly invest about HK$112 million to acquire the land in To Kwa Wan, and plan to develop into commercial and residential properties.

After participating in the AVA228 residential project in 2018, Ching Lee has successfully transformed from a builder into a real estate developer of the whole industry chain. The project acquired this time is located at 105 and 105A Pak Tai Street, To Kwa Wan, covering an area of approximately 2,132 square feet. It is planned to be developed into a 19-storey boutique-style commercial and residential complex. The ground floor and the first floor are destined commercial areas, and the remaining floors are residential. The unit floor area will be in line with the Hong Kong Government's new policy on "Minimum Flat Size" (4) for residential buildings introduced earlier this year. The acquired project is a combined site, located in the heart of To Kwa Wan which is a mature district and it is well equipped with adequate ancillary facilities. On top of that the project will achieve large synergic effect with the adjacent Urban Renewal Authority (URA) projects and has great development potential. In recent years, To Kwa Wan has undergone tremendous changes. Driven by the Government's launch of the URA's "Four Projects" (5) which attracted major developers to expand in the area and redevelop old buildings as well as becoming young people's new gathering place with a new look. In addition to the opening of the Kowloon-Canton Railway's the Shatin to Central Link, To Kwa Wan is transforming into a comfortable and convenient living environment, and also becoming more popular to young generation.

Mr. Ng Choi Wah, Chairman of Ching Lee Holdings Limited said: "We are experienced and skilled in the construction industry and are very excited to discover new property development projects. This is a big step forward for the Group to transform from a builder to a real estate developer. The Group remains optimistic about the Hong Kong housing market and will continue to actively look for further potential property development opportunities."

The Group has been providing construction, consulting engineering and project management services for more than 23 years. With many years of rich experience in the construction industry, we now provide integrated services for real estate from foundation works, construction engineering to sales. We believe that resource integration can enhance synergies, reduce intermediate business costs and improve project profitability. Successful examples include the residential project "AVA228" on Tai Po Road in Sham Shui Po, which was one of the earliest urban redevelopment projects in Sham Shui Po. The "AVA228" project was completed at the end of 2021 and all residential units were sold, laying the foundation for the Group's property development milestones.

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

Notes to editors:

1. Definitive JV Agreements
On 7 April 2022, Ching Lee Holdings Limited, the Partners and an additional investor, Berrystead Investment, entered into the definitive JV Agreements in respect of the Project Company. From the knowledge of Ching Lee, the Partners have relevant experience and resources to provide financing for the property-related projects held by the Target Company, which will be used to acquire a site project located at 105 and 105A Pak Tai Street in To Kwa Wan from the Chinese-funded developer Wuyi Group and rebuild it into a 19-storey commercial and residential complex building. The maximum capital commitment of the Project Company is HK$150 million. On the same day, the Project Company (as the buyer) entered into a sale and purchase (S&P) agreement with an independent third-party China Expert Development Limited (as the seller) in relation to the purchase of the entire issued share capital of the target company, together with the shareholders' loan advanced by China Expert Development Limited to the Target Company, for a total consideration of HK$111.5 million. Completion of this S&P agreement is expected to take place on or before 30 days from the date of the S&P agreement.

https://www.chingleeholdings.com/upload/docs/report_202204072045270.pdf

2. Five partners
Ching Lee Holdings Limited ("Ching Lee") has confirmed to implement the establishment of the "Project Company" with Primo Holdings Limited, Zun Wang Holdings, RJHK, Gainful Asset Management and Berrystead Investment (partner), respectively owning 20%, 20%, 25%, 20%, 5% and 10% interest.

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

Primo Holdings Limited, a limited liability company incorporated under the laws of Hong Kong and a direct wholly-owned subsidiary of Sunwah Kingsway Capital Holdings Limited, a limited liability company incorporated in Bermuda and whose shares are listed on the Main Board of the Stock Exchange (Stock Code:00188). It is principally engaged in investment holding.

Zun Wang Holdings is a limited liability company incorporated under the laws of the BVI. It is principally engaged in investment holding. Zun Wang Holdings is ultimately wholly owned by Mr. Chen JiaHui.

RJHK is a limited liability company incorporated under the laws of the BVI. It is principally engaged in investment holding. RJHK is ultimately wholly owned by Mr. Jian Weiwen.

Gainful Asset Management is a limited liability company incorporated under the laws of the BVI. It is principally engaged in investment holding. Gainful Asset Management is ultimately wholly owned by Mr. Chen Weisong.

Berrystead Investment is a limited liability company incorporated under the laws of Hong Kong. It is principally engaged in investment holding. Berrystead Investment is ultimately wholly owned by Mr. Lee Wai Sang and Ms. Leung Mo Shan Jackie.

Entering into of the Cooperation Framework Agreement on 9 December 2021
Regarding the entering into of the Cooperation Framework Agreement on 9 December 2021 by Ching Lee with the Partners in respect of the proposed formation of a joint venture company, the "Project Company", and the acquisition by the "Project Company" of a Hong Kong incorporated property holding company, the "Target Company". Under the Cooperation Framework Agreement, Ching Lee and the Partners agreed among other things to negotiate and enter into definitive agreements in respect of the formation of the "Project Company".

3. The "Project Company"
The Project Company, Empire Elite Group Limited, a limited liability company incorporated under the laws of the BVI on 12 November 2021. It is principally engaged in investment holding.

The "Target Company"
The Target Company, Front Builder Investment Limited, a limited liability company incorporated under the laws of Hong Kong on 28 September 1988. The principal activity of the Target Company is the letting of properties for rental income in Hong Kong.

4. The Government's new policy on "Minimum Flat Size" requirement
The Government announced on 24 February 2022 that the minimum flat size requirement will be extended to all Government land sale, railway property development projects, projects of the URA, as well as lease modification and land exchange applications by private developers. The prescription that each flat should reach at least 26 sq m (around 280 square feet) in saleable area aims to enhance living space and respond to the society's wish.

https://www.info.gov.hk/gia/general/202202/24/P2022022400629.htm?fontSize=1

5. Urban Renewal Authority's "Four Projects"
Four projects include Kai Ming Street Project, Hung Fook Street / Kai Ming Street Project, Kai Ming Street / Wing Kwong Street Project and Wing Kwong Street Project.

https://www.ura.org.hk/en/news-centre/press-releases/20211122


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

IBI Announces Acquisition of Strategic Property Investment in Europe

HONG KONG, May 27, 2022 – (ACN Newswire) – IBI Group Holdings Limited ("IBI" or the "Group"; Stock Code: 1547), an investment holding company which specialises in the built environment including subsidiaries providing contracting services, distribution of high-tech and innovative building products including energy efficient lighting and air quality monitoring devices, has concluded the acquisition of a strategic property investment in Dublin, Ireland ("Acquisition"), through its indirect subsidiary, IBI International Investment Holdings Limited ("IBI International Investment" or the "Company") at the consideration of approximately HK$113 million.


IBI has acquired Adelaide Chambers within the heart of Dublin city centre's central business district for strategic investment purposes


The Group has been looking in detail at a wide range of investment opportunities to generate stable cash flow and income. The Acquisition is a multi-tenanted period building located at Adelaide Chambers, Adelaide Square, Peter Street, Dublin 8, Ireland ("Property") within the heart of Dublin city centre's central business district, situated 400-metres West of St. Stephens Green. With a 4-storey over basement and modern 4-storey extension to its eastern side, the Property provides over 19,600 sq. ft. of commercial office space and 31 basement car parking spaces. The Group believes there is significant potential for capital appreciation of the Property in the future, as a result of property upgrading works and lease renewals.

Mr. Neil Howard, Chairman and CEO of IBI, said, "We have been exploring a wide variety of strategic investment opportunities that will bring significant additional value to the Group and our shareholders. Leveraging our strong financial position, we believe the Acquisition is an excellent opportunity for IBI to enter the property investment sector in Ireland, one of Europe's major commercial and tourist centres. Given the economic importance of Dublin's central business district and the development prospects of the Property, we are confident and pleased that the Acquisition will generate an additional, stable stream of income for the Group.

About IBI Group Holdings Limited (stock code: 1547)
IBI Group Holdings Limited is a listed holding company on the Main Board of the Hong Kong Stock Exchange and the Group is principally focused on investments in the built environment. The core investment sectors of the Group include a building and fitting-out contractor, a business providing innovative and energy efficient lighting and air quality monitoring products and, an investment entity looking at opportunities in property development and other built environment opportunities. The mission of the Group is to deliver premium products, services and customer experiences with a strong influence of innovation, sustainability and environmental sensitivity.

For more information, please refer to IBI's website: https://ibighl.com/.


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

Vistar Holdings Hits Record High Annual Revenue Up by 32.8% Y-o-Y

HONG KONG, May 17, 2022 – (ACN Newswire) – Vistar Holdings Limited (the "Company" and together with its subsidiaries, the "Group"; Stock code: 8535.HK ), an established electrical and mechanical ("E&M") engineering services provider in Hong Kong, has achieved outstanding results for the year ended 31 March 2022. Its revenue was approximately HK$405.17 million, a year-on-year increase of approximately 32.8% reaching a historic high since the Company's listing on the GEM of The Stock Exchange of Hong Kong Limited in 2018.

Benefiting from the business growth, installation service projects contributed approximately HK$306.90 million to the Group's annual revenue. The five substantially-completed sizeable installation projects brought in a combined revenue of approximately HK$187.15 million.

For the year ended 31 March 2022, profit attributable to equity holders of the Company was approximately HK$20.78 million (for the year ended 31 March 2021: approximately HK$28.51 million). After excluding the listing expenses incurred during the reporting period in relation to the proposed transfer of listing of the Company's shares from GEM to the Main Board, the Group's operations recorded a normalised profit of approximately HK$33.06 million, an improvement of about 16.0% over the previous year.

The Board has resolved to declare a final dividend of HK0.50 cents per share for the year ended 31 March 2022. Together with the interim dividend of HK0.35 cents per share already paid, total dividend for the year was HK0.85 cents per share, maintaining a stable dividend payout ratio (for the year ended 31 March 2021: HK0.85 cents per share).

Mr Poon Ken Ching Keung, Chairman and Chief Executive Officer of Vistar Holdings, said, "Although facing the ongoing pandemic, global supply shortage of resources, inflation and an unstable market environment, the Group has drawn on its leading engineering technology and extensive project management experience to provide E&M engineering services to the Three Runway System (3RS) developments at the Hong Kong International Airport surrounding supportive infrastructure facilities, Wong Chuk Hang MTR station expansions and Hong Kong Island east central business district redevelopment. During the year, we have achieved satisfactory performance. Revenue surged to a new high and normalised profit also recorded growth. Looking ahead, we believe that the policies of the Hong Kong Government will inject remarkable momentum into Hong Kong's economic recovery. In particular, the Lantau Vision and Northern Metropolis land development mega-projects are expected to significantly increase the demand for construction and related engineering services in the city. We will continue to improve the quality and efficiency of our output through standardisation, and actively strive to secure more projects in order to expand our business to the next level".

For the year ended 31 March 2022, the Group has commenced three sizeable projects with a combined initial contract amount of approximately HK$113.12 million. The Group has many other secured or identified business projects presenting promising yields.

The Group is confident that the proposed transfer of listing would provide greater access to capital, on top of profits reinvested over the years, to fund the entire expansion scheme that will firmly establish it as a leading E&M engineering company in the future.

In addition, the Group revised its dividend policy and undertakes to distribute dividend at a rate of no less than 30% of the annual consolidated net profit attributable to shareholders of the Group in any financial year.

About Vistar Holdings Limited
Vistar Holdings Limited is one of the leading E&M engineering service provider in Hong Kong, specialising in installation, alteration and addition works and maintenance of fire service systems. Its wholly-owned subsidiary, Guardian Fire Engineers and Consultants, Limited, has been providing engineering services in Hong Kong since 1972. The Group's customers come from both the private and public sectors. The private sector mainly includes property developers, property owners and main contractors engaged by property developers, while the public sector mainly includes government departments such as Hong Kong Housing Authority and Hong Kong Electrical and Mechanical Services Department.

Enquiries:
Strategic Financial Relations Limited
Heidi So +852 2864 4826 heidi.so@sprg.com.hk
Phoebe Leung +852 2114 4172 phoebe.leung@sprg.com.hk
Rachel Ko +852 2114 2370 rachel.ko@sprg.com.hk
www.sprg.com.hk


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

Kobe Steel to launch “Kobenable Steel”, Japan’s first low CO2 blast furnace steel

TOKYO, May 17, 2022 – (ACN Newswire) – Kobe Steel (KOBELCO) announces today that it will launch "Kobenable Steel" and become Japan's first* provider of low CO2 blast furnace steel products with significantly reduced CO2 emissions during the blast furnace ironmaking process. The Company plans to start selling the new products this fiscal year.

Kobenable Steel is based on the KOBELCO Group's CO2 Reduction Solution for Blast Furnace Ironmaking(1) announced on February 16, 2021. It utilizes a technology that can significantly reduce CO2 emissions from the blast furnace, which was demonstrated at the Company's Kakogawa Works by charging the blast furnace with a large amount of HBI(2), produced by the MIDREX(R) Process(3) in the engineering business.

Kobe Steel plans to launch Kobenable Steel in two product categories:
– Kobenable Premier – 100% reduction rate of CO2 emissions per ton(4)
– Kobenable Half – 50% reduction rate of CO2 emissions per ton(4)

Kobenable Steel is available for all types of the Company's steel products (steel sheet, steel plate, wire rod & bar products) manufactured at Kakogawa Works and the Kobe Wire Rod & Bar Plant.

Kobenable Steel maintains the same level of high quality as conventional products. Customers can continue to use blast furnace steel products that require high quality, such as special steel wire rods and ultra-high-tensile strength steel, which are the Company's strengths.

For commercialization, reduction rates of CO2 emissions are calculated using the mass balance methodology(5) in which CO2 reduction effects are allocated to specific steel products, in accordance with ISO 20915. The calculation method and results are certified by the DNV Business Assurance services UK Ltd., a third-party certification body in the UK. At the time of the sale of the products, Kobe Steel will provide the customer with a third-party certificate issued by DNV and a low-CO2 steel product certificate issued by the Company(6).

Kobe Steel will contribute to the realization of a green society by providing Kobenable Steel low CO2 blast furnace steel as a pioneer in the steel industry.

The Kobe Steel Group (KOBELCO Group) will continue to provide solutions to the needs of society, by making the best use of the talents of its employees and technologies, in order to realize a world in which people, now and in the future, can fulfill their hopes and dreams while enjoying safe, secure and prosperous lives.

*According to the Company's survey as of May 17, 2022.

(1) Press release announced on February 16, 2021
Kobelco Group's CO2 Reduction Solution for Blast Furnace Ironmaking
https://www.kobelco.co.jp/english/releases/1207624_15581.html
(2) Hot briquetted iron (HBI) is direct reduced iron (DRI) in a briquetted form. Since hot DRI is not suitable for long-distance transportation, it is pressed into a compact solid (briquette) upon being discharged from the reduction furnace
(3) The MIDREX(R) Process is the leading direct reduced iron (DRI) making process, which produces approximately 80% of the world's direct reduced iron with natural gas (approximately 60% of the world's direct reduced iron at large). The MIDREX Process uses natural gas as the reductant and pellets made of iron ore as the source of iron to make DRI through the reduction process in the shaft furnace. In comparison to the blast furnace method, the MIDREX Process can reduce CO2 emissions by 20 to 40%.
(4) Compared with the fiscal 2018 levels
(5) The mass balance methodology is a method to allocate specific characteristics to a certain portion of products according to the input amount of raw materials with the characteristics when there is a mix of raw materials with and with no such characteristics (e.g., low CO2) in the manufacturing process. This approach has been used for products such as recycled plastics, bioplastics, electricity generated from renewable energy sources, and certified food products like cocoa and palm oil, for which separation of product properties are difficult due to the characteristics of the manufacturing process or the supply chain. In the ironmaking process, it becomes possible to reduce the amount of coke used and thereby reduce CO2 emissions by replacing a portion of iron ore with HBI, a raw material for steel that has already been reduced. Kobe steel employs the mass balance methodology to allocate the reduction effects to specific products and add environmental value to them.
(6) The upper limit on sales volume is set by the certification body. Please ask us about the details of sales quantity.

www.kobelco.co.jp/english/

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

Broad Homes Utilizes Intelligent Manufacturing System to Expand into Smart Buildings

HONG KONG, May 10, 2022 – (ACN Newswire) – Broad Homes and Tencent Cloud enter into strategic partnership to develop new opportunities in smart buildings.


Hefei Binhu New Area Gui Yuan and He Yuan Affordable Housing Project

Broad Homes' Box MODUL apartment products


Utilizing Broad Homes' whole-process digital information system and globalized, large-scale, specialized and intelligent assembly building manufacturing and service capabilities, as well as Tencent Cloud's advantages in the field of all-true interconnection, digital twin, enterprise digitalization, AI platform and cloud services, the two companies 'strategic cooperation will focus on market development, technical cooperation and product development to jointly innovate and create development opportunities.

In the future, Broad Homes and Tencent Cloud will together help more traditional enterprises to transform and upgrade. The two companies will carry out targeted cooperation and R&D in the fields of smart parks, smart communities, and true interconnection. Efforts will go towards creating key cooperation projects in the fields of intelligent construction, smart cities, industrial towns and digital upgrading of enterprises, and replicate and promote them nationwide to achieve wider and deeper strategic cooperation.

The regulation and control policies of the real estate industry are expected to be continuously relaxed, and affordable rental housing will drive the demand for prefabricated construction.
In 2021, China continued to increase its real estate regulation policies, and the regulation methods, intensity and detail were significantly upgraded. With the intensive introduction of a series of regulatory schemes to strengthen the prudent management of real estate finance, the real estate market suddenly cooled down. By the end of 2021, investment in China's real estate industry had recorded an annual growth rate of only 4.4%, lower than the 7% growth rate in 2020. In the first half of 2021, the number of new construction projects was relatively strong. However, due to the release of the pressure of regulatory measures in the second half of the year, the year-on-year decline was 11.4%.

Since this year, the government issued several easing policies for the real estate industry. On the one hand, it has reversed residents' expectations, on the other hand, it has encouraged real estate investment and guided the industry to develop steadily in a positive and healthy direction through policies. For the prefabricated construction industry, the development goals of affordable rental housing, building energy conservation and green building have been issued recently, which provides a strong catalyst for industry development in the coming years. At the same time, the Ministry of Housing and Urban-Rural Development announced clear targets for affordable rental housing in 40 key cities during the 14th Five-Year Plan period. It plans to build 1.9 million new affordable rental housing units by the end of this year and 6.5 million new units by 2025, hoping to resolve housing difficulties of 13 million people. According to market analysis, the new plan of affordable rental housing will benefit the construction demand of prefabricated buildings and accelerate industry development. The benefit comes from the two advantages of prefabricated buildings: 1) shorter construction cycle in comparison to traditional construction methods; 2) reduction in overall labor cost and environmental burdens. For developers, the shortening of the construction cycle is very important, because expedited delivery will allow earlier generation of rental income. According to the calculation of Everbright Securities, if the rental price of affordable housing is estimated to be 40 RMB/m2 per month, and if construction period for building structure and decoration is shortened by 9 months, the corresponding rental value will be 360 RMB/m2. Under current industry circumstance with price of prefabricated buildings equaling that of traditional buildings, there is no doubt that prefabricated building is a more valued method of construction.

In March this year, the Ministry of Housing and Urban-Rural Development released the "14th Five-Year Plan for the Development of Energy Efficient and Green Buildings", further clarifying the country's determination to promote high-quality development of green buildings. The plan states that by 2025, prefabricated buildings will account for 30% of newly built housing in cities and towns (the ratio was 9.1% in 2018). The policy clarified the need for green and low-carbon construction in the county and how assembled modular buildings can be well adapted to modernize the construction of farm houses and villages to create green and low-carbon villages.

Specific targets for building energy efficiency and green building development in the "14th Five-Year Plan" period
Main Targets / By 2025
Energy saving reconstruction area of existing buildings (100 million m2) / 3.5
Construction area of ultra-low energy consumption and near zero energy consumption (100 million m2) / 0.5
Proportion of prefabricated buildings in new urban buildings / 30%
Proportion of electricity consumption in building energy consumption / 55%

Broad Homes is a leader in China's prefabricated construction industry, promoting multifaceted growth.
Broad Homes is the first prefabricated construction stock to IPO in Hong Kong, which was officially listed on the Main Board of Hong Kong Stock Exchange in November 2019. Broad Homes is a leading company in the prefabricated construction industry. The industry is highly policy driven and increase in market demand helps to drive down costs of prefabricated construction. The current price competition in the prefabricated construction industry is fierce, and the price of some assembled buildings is getting closer to that of traditional cast-in-place constructed buildings, which is one of the signs of rapid industry growth.

After the impact of the COVID pandemic and overall industry downturn in 2021, Broad Homes recently submitted a solid financial report. As of December 31, 2021, Broad Homes reported total revenue of RMB 3.059 billion, up 21.8% year-over-year with solid operating cash flow and cash reserves. In addition, on January 17, 2022, Broad Homes reported that both new contracts signed and outstanding contracts at hand in 2021 reached record highs, with the total value of new contracts signed for the PC business in 2021 increasing by 20.9% year-on-year to RMB4.947 billion and the total value of outstanding contracts in hand increasing by 24.1% year-on-year to RMB6.448 billion, with solid profitability estimates.

In March 2021, Box MODUL (Broad Homes 'modular integrated product) was officially released, which is a prefabricated and modular residential finished product produced by making full use of prefabricated construction technology. The product was launched in July and started to ramp up by September 2021. In less than six months, the product was delivered to 16 provinces, involving innovative application scenarios of cultural tourism, public, office, medical and other scenes. According to the data, as of December 31, 2021, Broad Homes obtained RMB154 million of newly signed contracts and realized RMB82 million of revenues. At the same time, the company's B-House series have also achieved good growth in demand with the help of the recent frequent introduction of affordable rental housing policies and rural revitalization targets.


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

AFMG appoints Mr. Wilfried Porth as a non-executive director

HONG KONG, Apr 26, 2022 – (ACN Newswire) – Apollo Future Mobility Group Limited ("AFMG", the "Company", HKEX stock code: 860, together with subsidiaries, the "Group") announces the appointment of Mr. Wilfried Porth, who had been a member of the Board of Management of Daimler AG ("Mercedes-Benz") from 2009 to 2021, as a non-executive director with effect from 1 May 2022. Having served in various positions and different markets in the automotive industry for over 36 years, Mr. Porth will bring to the Group invaluable experience and industry insights.

Mr. Porth has extensive international management experience in Europe, Asia, the Americas and Africa, with wide-ranging functional expertise in production, research and development, sales and human resources. During his celebrated career at Mercedes-Benz, Mr. Porth held numerous senior executive positions, which include serving as Head of Mercedes-Benz Vans, Executive Vice President of Mercedes-Benz Transporter, and Chief Executive Officer of Mitsubishi Fuso Truck & Bus Corporation. Mr. Porth has also been a member of the boards of various corporations, organizations and foundations. Mr. Porth obtained a Diplom-Ingenieur degree in Studies of Mechanical Engineering from the University of Stuttgart.

Mr. Ho King Fung Eric, Chairman of AFMG, comments, "We are extremely delighted to have Mr. Porth join our Board. Mr. Porth will provide AFMG expert advice from the perspective of operating a world-leading automotive enterprise. This will help AFMG's next stage of development as the Group shifts its focus to new energy vehicles and future mobility."

About Apollo Future Mobility Group Limited
Apollo Future Mobility Group Limited (HKEX stock code: 860) is a leading integrated mobility technology solution provider. It is building a world-leading one-stop platform for "future mobility" through the integration of advanced proprietary technologies. The Group is focused on three pillars, namely Automobile Manufacturing, Engineering Services Outsourcing (ESO) and Technology Development. In addition to the development and sales of hypercars and premium electric vehicles, the Group provides the global mobility market with comprehensive solutions. The Group's subsidiaries include Apollo Automobil, Ideenion Automobil AG, and GLM Co. Ltd. In addition, the Group has also expanded its mobility technology offerings by investing in Divergent Technologies Inc., an innovative and comprehensive 3D printing automotive manufacturing platform, and EV Power, a leading electric vehicle charging solutions provider. For more details, please visit https://apollofmg.com/


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

ATAL Training Centre Officially Opens in Hong Kong

HONG KONG, Sep 7, 2021 – (ACN Newswire) – Analogue Holdings Limited (stock code: 1977) together with its subsidiaries (referred to as "ATAL Engineering Group", "ATAL" or the "Group"), a leading electrical and mechanical ("E&M") engineering service provider in Hong Kong, is pleased to announce the official opening of its ATAL Training Centre ("ATC"). With a floor area of over 3,500 sq. ft., ATC not only provides a dedicated training space for its staff, but also employs innovative technologies, including Internet of Things (IoT) and Virtual Reality (VR), in its training programmes to improve learning efficiency. Colleagues are able to enhance their skills and knowledge for their professions and career development or familiarise themselves with the operation and maintenance of various E&M facilities in the well-equipped training centre through various training programmes. This is part of the Group's aim to enhance the professional skills of staff, and nurture more outstanding talent for the Group and the engineering industry.


ATC officially opens to provide a dedicated training space to its employees.

An experience zone showcasing the Group's innovative technologies applied or self-developed for its four core businesses segments.

ATC is equipped with facilities including classrooms, a library and multi-purpose meeting rooms, to provide colleagues with a comfortable and practical environment for training.

The Group's development milestones are showcased at ATC's entrance, enabling colleagues to strengthen their knowledge and sense of belonging to the Group.


In line with the Group's pursuit of innovation, ATC has adopted a wide range of cutting-edge technologies, including the application of VR technology in its training programmes – a breakthrough in Hong Kong's E&M industry. Through its VR platform, more training programmes can be provided in a flexible manner, making it easier for colleagues to master skills and complete tasks. ATC also provides an experience zone to showcase the Group's innovative technologies – applied or self-developed for its four core businesses segments, including Internet of Things (IoT), Building Information Modelling (BIM), Multi-Trade integrated Mechanical, Electrical and Plumbing (MiMEP) 3D printing model, smart safety helmet, AI-driven platform, advanced buffer and over-speed governor for lifts, enabling colleagues to learn more about the Group's services and competitive advantages through interactive activities.

Irrespective of the outbreak of pandemic last year, the Group continued to provide training through the internet, such as by webinars to nurture its engineering talent. Upon the opening of ATC, colleagues will be able to enjoy more diversified training options, thus being able to fully benefit from the programmes at their disposal. This also complements the Group's online resources and training platform "ATALent" which was launched last year, as it offers the latest training information, including videos on different training courses to allow colleagues to review or retrieve the latest course materials anytime and anywhere, both online and offline, thereby building a corporate culture of life-long learning.

The design of ATC has taken into account the needs of more than 2,500 staff and adopted the Group's core values and guiding principles as expressed through its interior design. In addition, it is equipped with a library and multi-purpose function rooms to strengthen the bonding among colleagues. The Group's development milestones are also showcased at ATC's entrance, enabling colleagues to enhance their understanding of and sense of belonging to the Group.

Under its people-centric principle, the Group is committed to encouraging all-round staff development. At present, the Group has developed 12 internal training programmes, covering ATAL familiarisation; management sharing; professional technologies; quality, safety and environmental protection; BIM; project management; contract management; soft skills; information technology; enterprise resource planning (ERP); other occupational skills, etc. The Group also customises various programmes according to the career development of different staff.

Dr Otto Poon Lok-To, Chairman of ATAL Engineering Group, said, "Professional talent have always been the most important assets of the Group and the industry. Therefore, the Group has been committed to providing many training and internship opportunities to our colleagues. Today, our ATAL Training Centre, which has taken some time to bring to fruition, sets an important milestone in our talent cultivation. In the future, we will continue to uphold the strategies of New Technology, New Market and New Business Model, and strive to develop and introduce more innovative technologies, not only for business applications, but also for talent training, in order to promote the long-term development of the Group and the industry."

In the past year, the Group has provided training amounting to over 30,000 hours. With the establishment of ATC, the Group will move closer towards the goal of providing 15 hours of training per person per year, and thus equip more engineering talent with professional skills, and accelerate the sustainable development of the Group and the industry.

About ATAL Engineering Group
Established in 1977, ATAL Engineering Group ("ATAL") is a leading electrical and mechanical engineering service provider headquartered in Hong Kong, with operations in Macau, Mainland China, the UK and the US. 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. ATAL's parent company, Analogue Holdings Limited, is listed on the Main Board of the Stock Exchange of Hong Kong (Stock Code: 1977).



Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Daiwa Securities Upgrades Rating of Parent Company of Precision Tsugami (1651.HK) to “Outperform”

HONG KONG, Sep 6, 2021 – (ACN Newswire) – Daiwa Securities, in its recently published research report, has upgraded the rating for the parent company of Precision Tsugami (China) Corporation Limited ("Precision Tsugami" or the "Company", stock code: 1651), which is the largest foreign-owned CNC high-precision machine tool manufacturer in the PRC . The "Outperform" rating was given to the firm as Daiwa Securities was particularly optimistic about Precision Tsugami's strong business foundation in the PRC, and the higher-than-expected number of orders received in July.

In the report, Daiwa Securities noted that Precision Tsugami brought a new plant on stream in Anhui Province, the PRC, in March 2021, thus increasing total production capacity by just above 15%. The ability to supply the needed volume of products by the deadlines demanded by customers is particularly important in the PRC. The Group commands a lofty share of the local market for small- and mid-size sliding headstock automatic lathes (60-70% by its estimate). Leveraging its strong profile, the Company has established close relations with a number of local area suppliers and appears to be well positioned when it comes to securing the parts, materials and workforce needed for business activities. At this juncture, the procurement difficulties have not had a major impact on the Company's production. In view of the higher-than-expected number of orders in July, Daiwa Securities raised its revenue forecast for the parent company of Precision Tsugami. The forecasted revenue and operating profit for FY21 are 100.5 billion yen (HK$7.084 billion) and 20.5 billion yen (HK$1.445 billion), respectively, and 107 billion yen (HK$7.542 billion) and 21.8 billion yen (HK$1.537 billion) in FY22, respectively. Daiwa Securities believes that orders will remain at a high level. In the first quarter of FY22, Precision Tsugami accounted for 70% of the parent company's revenue.

Since its establishment, Precision Tsugami has been committed to developing, manufacturing and selling modern CNC machine tools. Currently, it manufactures various high-end precision CNC machine tools such as automatic lathes, turret machines, machining centres and grinding machines that are used in diverse industries, spanning automotive parts, smart phones and 5G communications to automation, medical equipment and construction machinery. The Company is the largest overseas production base of Tsugami Japan. In addition to selling its products in the PRC, the Company also exports to Japan, South Korea, Taiwan, Europe, the United States and other markets.

About Precision Tsugami (China) Corporation Limited
The Group is an established foreign-owned CNC high-precision machine tool manufacturer in the PRC which primarily engages in the manufacture and sales of a wide range of CNC high precision machine tools under the TSUGAMI brands. The Group has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since 25 September 2017. The Group's CNC high-precision machine tools can be broadly classified into four major product categories, namely, precision lathes, precision machining centres, precision grinding machines and precision thread and form rolling machines. The Group offers CNC high-precision machine tools that are of standardised design and specifications to its customers and is able to provide machine tool solutions to them and make various specifications and/or customisations to CNC high-precision machine tools. According to Frost & Sullivan, in terms of revenue in 2017, the Group ranked third in the CNC high-precision machine tool industry in the PRC and was the largest foreign-owned CNC high-precision machine tool manufacturer in the PRC. The Group also ranked first in the PRC precision automatic lathe market in terms of revenue in 2017, with a market share of approximately 49.8%.




Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com