Haily Group Berhad aims to raise RM20.4 million from IPO

KUALA LUMPUR, Jun 30, 2021 – (ACN Newswire) – Haily Group Berhad ("Haily" or the "Group") aims to raise RM20.4 million from its upcoming listing on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") through an Initial Public Offering ("IPO") exercise.

(from left) Haily Group Berhad Executive Director Ms See Swee Ling, Haily Construction Sdn Bhd Director Mdm Kik Siew Lee, Haily Group Berhad Founder & Executive Director Mr See Tin Hai, and Haily Group Berhad CEO & Executive Director Mr Yoong Woei Yeh

Haily is principally a main contractor involved in building construction of residential and non-residential buildings in the Southern Region of Peninsular Malaysia, in particular, Johor and is also involved in the provision of rental of construction machinery. Haily has completed approximately 65 building construction projects with a total contract value of RM1.29 billion since 2008. As a Grade 7 contractor with CIDB, this allows the Group to bid and carry out any size of building construction projects irrespective of the contract value. Haily's clients include subsidiaries of public listed companies such as Mah Sing group of companies, Country View Resources Sdn Bhd, IOI group of companies, IJM Properties Sdn Bhd, as well as other private companies such as WB Land Sdn Bhd, Danau Homes Sdn Bhd and Connoisseur Food Generation Sdn Bhd.

Launching its Prospectus today, Haily said the IPO involved a public issue of 30.00 million shares at RM0.68 each which is expected to raise gross proceeds of RM20.40 million.

Of the 30.00 million shares, it is offering 8.92 million shares to the Malaysian public, 10.00 million to its eligible directors, employees and persons who have contributed to the success of the Group, and 11.08 million to selected investors by way of private placement.

In addition, there will be an offer for sale by its promoter that involves 18.00 million existing ordinary shares in Haily by way of private placement to selected investors which is expected to raise gross proceeds of RM12.24 million. Its promoters are Haily Holdings Sdn Bhd, See Tin Hai and Kik Siew Lee.

Of the RM20.40 million to be raised from its public issue, Haily plans to use RM4.20 million (20.59%) for purchase of construction machinery, equipment as well as new contract management and accounting software and office equipment, RM6.00 million (29.41%) for working capital for construction projects, RM7.00 million (34.31%) for repayment of bank borrowings, and the remaining RM3.20 million (15.69%) as listing expenses.

Haily Group Berhad Founder and Executive Director See Tin Hai said: "The listing exercise is an important next step which will increase the stature of our Group, thus enhancing our reputation as we market our construction services and expand our customer base in Malaysia. We are excited to provide an opportunity for investors and institutions to participate in our equity and continuing growth."

Currently, Haily has 18 on-going building construction projects as well as 2 civil engineering related construction projects. Its total secured contract value and unbilled contract value as at 10 June 2021 stood at RM460.04 million and RM249.58 million respectively. The ongoing projects are expected to be completed progressively between 2021 and 2023.

On the long-term prospects of the construction industry, See said Malaysia's economy is expected to gradually improve in the second half of 2021 underpinned by key growth drivers such as continued improvement in global growth, trade and technology cycle, upcoming large-scale infrastructure projects as well as economic stimulus measures.

"The growth of the residential and industrial sector in other districts of Johor will provide opportunities for the Group, and we have secured and unbilled contracts that can sustain us through the near-term challenges brought about by the Covid-19 pandemic.

Taking into consideration our healthy cash position, expected profits to be generated from our operations, the amount that is available under our existing banking facilities and proceeds expected to be raised from the public issue, we will have adequate working capital to meet our present and foreseeable requirements as we continue to replenish and enlarge our order book to provide business growth," See added.

TA Securities Holdings Berhad is the Principal Adviser, Sponsor, Underwriter and Placement Agent in relation to the IPO. Its Head of Corporate Finance, Ku Mun Fong said: "The Malaysian economy in 2020 has weathered a challenging year amidst the pandemic. However, with the strong fundamentals of the Malaysian economy, Bursa Malaysia Securities Berhad is able to weather challenges and is poised to grow in the long term. This augurs well with the listing of Haily Group Berhad on the ACE Market of Bursa Malaysia Securities Berhad."

The Group has an intention to distribute dividends of at least 30% of its annual profits attributable to its shareholders upon completion of the listing. However, it is not a legally binding obligation/guaranteed commitment to the shareholders. Dividends declared and distributed by the Group for the financial year ended 31 December ("FYE") 2017, FYE 2018, FYE 2019 and FYE 2020 were RM10.01 million, RM5.25 million, RM6.00 million and RM2.50 million respectively.

Haily's core competency is building construction in Johor, mainly in the districts of Johor Bahru and Kulai, and the Group plans to continue focusing on building construction there while leveraging on its experience to extend its reach to the other districts. The listing exercise will help accelerate this, as well as enable them to purchase new construction machinery and equipment in anticipation of future growth.

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Tat Hong Equipment Service Co., Ltd. Announces First Annual Results after Listing

HONG KONG, Jun 28, 2021 – (ACN Newswire) – Tat Hong Equipment Service Co., Ltd. ("Tat Hong" or the "Company", together with its subsidiaries, the "Group") (Stock Code: 2153), the first foreign-owned tower crane service provider established in the PRC, has announced its annual results for the year ended 31 March 2021 ("FY2021" or the "Year").

Results Highlights:
— Total revenue increased by 6.4% to RMB793.0 million
— Gross profit margin improved to 34.5%
— Net profit rose by 32% to RMB101.2 million with net profit margin increased to 12.8%
— EBITDA increased 4.6% to RMB394.7 million attaining EBITDA margin of 49.8%
— Recommended a final dividend of HK3 cents per share
— High earnings visibility: outstanding contracts value amounted to RMB751.5 million
– Work in progress: 258 projects with contract value of RMB587.2 million;
– On hand but not yet commenced: 60 projects with expected contract value of RMB164.3 million

In FY2021, the Group recorded revenue amounting to RMB793.0 million, representing a 6.4% increase from that for the year ended 31 March 2020, mainly attributable to the increase in the number of both self-owned and rented tower cranes, the majority of which had been working on-site and generating revenue. The Group's average annual total Tonne Metres in use increased from approximately 2,284,596 in FY2020 to 2,491,629 in FY2021.

Gross profit increased by approximately 7.9% to approximately RMB273.3 million, with improved gross profit margin of 34.5%. Profit for the year increased from approximately RMB76.5 million for the year ended 31 March 2020 to approximately RMB101.2 million for the year ended 31 March 2021, representing an increase of approximately 32.4%. To share the positive results of the Group with shareholders after listing, the Board of Directors recommended the payment of a final dividend of HK3 cents per share.

As at 31 March 2021, the Group had 258 projects in progress with a total outstanding contract value of approximately RMB587.2 million and 60 projects on hand with a total expected contract value of approximately RMB164.3 million. Of these projects, the Group expects to complete contract work of approximately RMB578.9 million by the year ending 31 March 2022, demonstrating high and solid earnings visibility in the forthcoming year.

Mr. Sean Yau, CEO of Tat Hong Equipment Service Co., Ltd. said, "FY2021 marks a fruitful year for Tat Hong as we have reached a major milestone with a successful listing on the Stock Exchange of Hong Kong and delivered promising results. Despite the outbreak of COVID-19 becoming pandemic in March 2020, inevitably affecting some business operations during the year, we are delighted to have delivered satisfactory results attributable to our leading position and track record in tower crane service industry in the PRC as well as our strong relationship with Chinese Special-tier and Tier-1 EPC contractors. We stay committed to providing one-stop tower crane solution services from consultation, technical design, commissioning, construction to after-sales services primarily to our customers and seize numerous business opportunities arising from strong asset investment and urbanisation in the country."

Business Review

As at 31 March 2021, the Group managed 1090 tower cranes, which are all equipped to flexibly engage in our customers' specialised range of EPC projects throughout the PRC.

As a well-recognised foreign-owned tower crane service provider in the PRC, the Group has also built a strong reputation in our awareness to workers' safety, service quality and technical strength. The Group possesses Class A Certificate for Erection, Modification and Maintenance of Special Type Equipment granted by the Jiangsu Quality and Technology Supervisory Bureau and Construction Enterprise Qualification Certificate and grade of Class One Lifting Equipment Erection and Project Outsourcing issued by the Jiangsu Housing and Urban Rural Construction Department for conducting tower crane service business in the PRC. In FY2021, the Group has been granted 10 additional registered patents, bringing total registered patents to 44 for utility models and inventions and designs relating to tower cranes, with 23 patent filings in progress.

During the Year, revenue from Commercial Projects, primarily referring to the EPC projects for commercial buildings, industrial parks and shopping malls, grew 22.3% to RMB403.4 million, accounted for 50.9% of the Group's total revenue. On the other hand, Infrastructure Projects, mainly referring to the EPC projects for airports, railway stations and bridges and Residential Projects, referring to the EPC projects for residential properties and affordable housing, contributed revenue of RMB130.5 million and RMB200.9 million respectively, accounting for 16.5% and 25.3% of the Group's total revenue. Energy Projects, referring to the EPC projects for hydropower stations, nuclear power plants and LNG terminals, are seen to be one of the growth drivers of the Group's business. Revenue from this segment increased by 50.5% to RMB58.1million, accounted for 7.3% of the Group's total revenue.

Outlook

Along with the foreseeable stable growth of the construction industry, continuous urbanisation process and massive government promotion of prefabricated buildings, the tower crane service market in the PRC is anticipated to grow further in the following years.

In order to capture future growth opportunities, the Group plans to continue to focus on fleet expansion on medium-to-large sized tower cranes and maintain a mix fleet of self-owned and rented tower cranes to enhance the utilisation of its tower cranes. The Group is also expanding its Yangzhou Refurbishment Centre with an aim to extend the scope of services to its customers as well as industrial peers, so as to maintain and strengthen the strong-ties with its long-term and reputable customers. Looking ahead, the Group also targets to gradually expand its market presence in Indonesia under China's Belt and Road Initiative and expand its business operations through investment.

Mr. Roland Ng, Chairman of Tat Hong Equipment Service Co., Ltd. concluded, "With the successful listing of Tat Hong in January this year, followed by many accomplishments thereafter, we are set to seize numerous business opportunities in the PRC as well as in the region with our enhanced capital foundation. Leveraging our leading market position, nationwide business coverage, stable and solid customer base and large-scale tower crane fleet, we are confident to deliver satisfactory performance in the forthcoming year. We are optimistic on the long-term development prospects of the Group particularly in infrastructure and energy sectors, and we look forward to continuing to deliver sustainable growth and results for our shareholders, investors and business partners".

About Tat Hong Equipment Service Co., Ltd. (Stock Code: 2153)
Tat Hong Equipment Service Co., Ltd. is the first foreign-owned tower crane service provider established in the PRC. Since 2007, the Group has established as a tower crane service provider for one-stop tower crane solution services from consultation, technical design, commissioning, construction to after-sales services primarily to Chinese Special-tier and Tier-1 EPC contractors. Guided by its core values, "Virtue, Safety and Excellence", the Group has successfully established its market position and maintained stable, reputable and loyal customer base in the construction industry in the PRC.

Media Enquiries
Strategic Financial Relations Limited
Maggie Au Tel: (852) 2864 4815 email: maggie.au@sprg.com.hk
Mel Lai Tel: (852) 2864 4855 email: mel.lai@sprg.com.hk

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

IBI Group Delivers Exceptional Results with Net Profit Surging 151.5%

HONG KONG, Jun 24, 2021 – (ACN Newswire) – IBI Group Holdings Limited ("IBI" or the "Company", together with its subsidiaries as the "Group"; Stock Code: 1547), a publicly listed company that holds investments in companies focusing on the Built Environment, today announced its business results for the financial year ended 31 March 2021 ("FY2021"), nothing short of remarkable in light of the devastating impact to the global economy caused by the COVID-19 pandemic.

During the year under review, the Group recorded revenue of approximately HK$556.7 million (FY2020: HK$591.1 million). Though its revenue dropped slightly, its gross profit increased by 53.1% to HK$79.4 million. Profit attributable to the owners of the Company for the year surged by 151.5% to approximately HK$54.4 million, mainly attributable to the strategic investments made during FY2021. Basic and diluted earnings per share climbed 151.9% to HK6.8 cents.

The Group maintained a strong financial position with cash and cash equivalents of approximately HK$87.1 million and no bank borrowings as at 31 March 2021. The Board has recommended payment of a final dividend of HK4.0 cents per share for the year ended 31 March 2021 (FY2020: not applicable). Based on the current share price of HK$0.31, the total yearly dividend yield equates to an impressive 16.13%.

Business Review

Contracting

IBI provides world class interior fitting out and building refurbishment services in Hong Kong and Macau, undertaking two main types of projects, namely fitting-out projects and alteration and addition projects. Due to its proven track record and established reputation, IBI remained busy in the Hong Kong market despite the impact of the pandemic, completing 13 projects and being awarded 12. During the year under review, revenue from the segment totalled approximately HK$511.0 million (FY2020 approximately: HK$591.1 million) with segmental gross profit amounting to HK$35.3 million

Building Solutions

During the year under review, IBI set up a new subsidiary, Building Service Limited ("BSL"), which provides high-tech solutions utilising innovative products and services to fulfil its mission of creating healthy, productive and efficient indoor environments. Since its launch, the Group has been working diligently to develop the business, design and open a showroom and most importantly, to secure distribution rights for five product ranges. With arising public awareness of healthy living and increased hygiene amid the COVID-19 pandemic, BSL's focus on air quality and clean air technologies target environmental improvements based on science, data and a deep sense of caring for the human condition.

Strategic Investments

In early 2020, the Group established a new strategic investments division to ensure the efficient use of its available capital. During the year under review, the Directors saw an opportunity in the depressed markets of the United Kingdom, Australia and Hong Kong to invest in blue chip, high dividend yielding companies that were both sizeable and which possessed a long history and ability to withstand market disruption. Over the course of the year, the investments performed well and delivered impressive results with segmental profit reaching approximately HK$43.9 million. Moving forward, the Group is looking into several new potential investment opportunities including property development projects in jurisdictions outside Hong Kong and is diligently working to secure these opportunities in order secure additional profits for the Group.

Prospects

Although the Covid-19 pandemic is expected to continue to weigh heavily on the global economy, IBI remains prudently optimistic about the market improving and recovering. Mass vaccination is clearly a critical component in controlling the COVID-19 pandemic and returning our society back to normal and in this regard, IBI has instigated a Group wide incentive scheme to encourage its employees to get vaccinated. The Group hopes this initiative will set an example for other companies to follow and ultimately, to help facilitate the return of the City's buoyant business environment. With a return to more normal business activity levels and a healthy level of liquidity, the Group is confident of fully exploiting business opportunities moving forward.

Mr. Neil Howard, Chairman and CEO of IBI, said, "Although FY2021 was a year of unprecedented challenges, by implementing a sound tactical development strategy, IBI continued to deliver exceptional performance. We are thrilled to see our net profit up 151.5% and to have launched our new subsidiaries. The new subsidiaries will strengthen our ability to provide integrated, innovative solutions and we look forward to seeing the results of these synergies in the coming year and to witness their positive impact on the Group's reputation, results and ultimately, the long-term value delivered to shareholders."

About IBI Group Holdings Limited (stock code: 1547)
IBI Group Holdings Limited is a publicly listed holding company on the Hong Kong Stock Exchange, focused on investments in the Built Environment. The Group's investments whilst principally centering around the role of contracting, include businesses providing innovative, high quality product and supply solutions across a diverse range of the built environment. Our mission is to deliver premium products, services and customer experiences with a strong influence of innovation, sustainability and wellness. For more information, please refer to IBI's website: https://ibighl.com/.

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

Central Global Berhad Makes Two Board Appointments

KUALA LUMPUR, Jun 24, 2021 – (ACN Newswire) – Main Market-listed Central Global Berhad ("Central Global") is pleased to announce the appointments of Yang Hormat Mulia ("YHM") Tengku Dato' Indera Abu Bakar Ahmad ("Tengku Abu Bakar") and Encik Shaharuddin bin Abdullah ("Encik Shaharuddin") as non-executive directors of the Group.

YHM Tengku Abu Bakar, 36, has a background in strategic planning, specialising in health-related, e-commerce and information technology businesses. He is currently chairman of Fomema Sdn Bhd, which operates a foreign workers' medical examination screening system in Peninsular Malaysia, as well as chairman of several other related companies. He is also a director of Bookdoc Holdings Sdn Bhd, which operates a mobile application connecting patients with medical professionals.

Tengku Abu Bakar holds a Bachelor of Business in Accounting from Swinburne University of Technology, Hawthorne, Australia. He has also throughout his career accumulated experience in dealing with multinational companies while providing guidance and support in the companies where he is a member of the board of directors.

Encik Shaharuddin, 60, spent his entire career in the Royal Malaysian Police and retired as an Assistant Commissioner of Police where his last posting was as Head of Administration for the Human Resources Department (Policy). He holds a Master in Social Science from University Kebangsaan Malaysia and a Diploma in Forensic Investigation from University Malaya.

Please contact the below for more information:
Muhammad Hakim
h.juraimi@swanconsultancy.biz

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

Glasstech Asia 2021 exhibition postponed to 26-28 October 2022

Due to the COVID-19 pandemic, the 18th edition of Southeast Asia’s leading trade fair for Glass and Facade is postponed and will now take place from 26 – 28 October 2022 at the Marina Bay Sands Convention Centre in Singapore. This decision was reached by MMI Asia after a series of meetings and discussions with the industry, including Glasstech Asia’s supporting organisations and stakeholders.

Mr. Michael Wilton, General Manager of MMI Asia commented: “After extensive discussions and feedback from the industry it has become clear that, despite our best efforts to create an in-person event this year in Bangkok, recent trends force us to postpone to 2022. We are looking forward to bringing the industry back together again in Singapore next year. Plans are already underway for what will be a welcome return to face-to-face business in 2022. In the meantime, we are excited to present further enhanced digital offerings to the market. Glasstech and Fenestration Asia are committed to bringing the very best minds together to further enhance, develop and equip the industry for the demands ahead in the coming years. The tools we are providing now will strive to achieve this for the industry”

Rather than the annual physical trade fair, professionals in the glass and facade industry can expect a series of exciting virtual activities such as webinars that focuses on glass and facade, virtual booths, product placement opportunities, matchmaking with private secure meetings and customizable digital packages.

Additionally, all educational content, live streaming and video recordings of talks and discussions will be available for a global audience on Glasstech Asia Virtual. Interested companies will have the opportunity to present their products virtually in their own customized webinar sessions and in their virtual booths. Moreover, to increase networking opportunities, visitors will be able to initiate chats and video calls to get in touch and discuss with exhibitors and other visitors, along with other business matchmaking functions.

Details about the new digital package and information on the participation options for exhibitors and visitors are expected to be available online from the end of June at Glasstech Asia website. Exhibitors who had already booked their stand will enjoy additional benefits and would be able to feature their virtual booth and products online immediately from the end of June.

Glasstech Asia unveils its new digital approach – Glasstech Asia website has been transformed with the addition of new features on the platform and introduces an enhanced digital package adding significant value to suppliers.

Introducing a new website in line with the BAU network, Glasstech Asia transforms its website with the addition of new features, which aims to increase user engagement, convenience, and access to the latest trends and information seamlessly around the world.

Users can easily subscribe to monthly e-newsletters that covers a broad range of topics, highlighting recent developments in the Glass and Facade industry and view exclusive interviews with leading experts in the field.

Moreover, being the leading platform for the Glass and Facade industry, Glasstech Asia website links users directly to Glasstech Asia Virtual that showcases on demand videos from past conferences and offers complimentary business matching services to all registered users.

Further enhancing the value of the show for both exhibitors and visitors, Glasstech Asia offers new bespoke digital packages to any interested exhibitors. These packages include items such as speaking opportunities in Glasstech Asia series of webinars, all year-round exhibitor listing on the directory along with product showcases, and extensive marketing exposure on the event platforms such as newsletters and social media.

Interested exhibitors will be able to find pertinent information on these packages on the website and reach out directly to the organiser team via the chat function.

Supporting Associations
Glasstech Asia is supported by the following associations:

Contact Us
Please contact us if you have any questions or require any additional information: bauasia@mmiasia.com.sg
MMI Asia Pte. Ltd. #10-07 Gateway East Singapore 189721

Social Media
All conference sessions are recorded and will be uploaded on Glasstech Asia Virtual. Follow us on our social media channels to stay up to date.
Facebook: https://www.facebook.com/glasstechasia/
LinkedIn: https://www.linkedin.com/company/glasstech-asia-fenestration-asia/

About Glasstech Asia 2022/ Fenestration Asia 2022

Coined “The Glass Hub of Southeast Asia”, Glasstech Asia is an annual rotating exhibition that focuses on all things glass. The upcoming 18th edition Glasstech Asia along with the concurrent Fenestration Asia will be held between the 26th to 28th of October next year at Marina Bay Sands Convention Centre in Singapore. The three-day event brings together the best of the Southeast Asian glass and glazing sector, from glass manufacturing, processing, and machinery to accessories, raw materials, and finished glass products. Coupled with high-powered symposiums, forums, workshops, and an exciting Glass Installation Competition, it is an event not to be missed.

Additionally, Glasstech Asia and Fenestration Asia aims to meet and satisfy the increasing global demands for eco-friendly windows, doors, and facades by focusing on new industry standards in sustainability, automation, and energy-efficiency topics. With a focus on green and smart fenestration technologies to bring about a more sustainable, energy-efficient, and liveable future, the exposition is strategically geared towards helping the architecture, building, and construction sectors in countries meet their energy targets.

About Messe Munchen

Messe München is one of the leading exhibition organizers worldwide with more than 50 of its own trade shows for capital goods, consumer goods and new technologies. Every year, a total of over 50,000 exhibitors and around three million visitors take part in more than 200 events at the exhibition center in Munich, at the ICM – Internationales Congress Center München and the MOC Veranstaltungscenter Munchen as well as abroad. Together with its subsidiary companies, Messe München organizes trade shows in China, India, Brazil, Russia, Turkey, South Africa, Nigeria, Vietnam, and Iran.

With a network of associated companies in Europe, Asia, Africa and South America as well as around 70 representations abroad for over 100 countries, Messe München has a global presence.

About BAU Network

BAU is the World’s Leading Trade Fair for Architecture, Materials and Systems. Everyone involved in the international community for planning, building and designing buildings comes together here—i.e. architects, planners, investors, representatives of the industrial and commercial sectors, the building trades, etc. It is where future-oriented manufacturers come together with an audience of interested professionals. Their primary interests include the latest techniques, materials and applications that can be used in actual practice. This is where visitors experience the future of building in person.

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

Central Global Berhad Seeks Strategic Partnerships for Construction Projects

KUALA LUMPUR, Jun 22, 2021 – (ACN Newswire) – Main Market-listed Central Global Berhad's ("Central Global") shareholders have passed all the resolutions at the Group's AGM for the financial year ended 31 December 2021 held virtually today.

CGB executive chairman Dato' Faisal Zelman

Central Global shareholders passed resolutions to re-elect executive chairman Dato' Faisal Zelman, executive director Mr. Tobby Tan and independent director Mr. Lee King Loon to the board of directors. All three were appointed to the board on 26 February 2021. Shareholders also passed the resolution to appoint Baker Tilly Monteiro Heng PLT as the Group's auditors in place of the retiring auditors, KPMG PLT.

Central Global executive chairman Dato' Faisal Zelman said: "We are pleased that the virtual AGM went smoothly without any technical hiccups. We fielded questions from shareholders on the Group's outlook and prospects as well as our ongoing plans to expand the manufacturing and construction businesses."

"We shared at the AGM that the board is seeking opportunities for the construction arm through strategic partnerships as we believe that the landscape for the construction business is changing and that such partnerships are the way forward for us. We also spoke to shareholders about our plans to upgrade the machinery of the manufacturing arm in order to make the processes more productive and cost-efficient."

"We remain cautiously optimistic and will continue to monitor the changing outcomes of the COVID-19 pandemic and make changes to daily operations accordingly with as little disruption as possible to the business. We are confident that the plans we are implementing will benefit the Group in the long-run."

Among Central Global's plans is an approved private placement of 18 million new shares to fund an upgrade of the manufacturing arm's capacity as well as funding for an existing construction project in Penang. Central Global was also awarded a construction project located in Lahad Datu, Sabah valued at RM101 million. The Group is currently in discussions for several construction projects.

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

Clarification Regarding Central Global Bhd’s MoU with China’s Huobi Mall for the Development of a Global Data Centre in Malaysia

KUALA LUMPUR, Jun 15, 2021 – (ACN Newswire) – Main Market-listed Central Global Berhad ("CGB") wishes to clarify that the information published in several news journals in China regarding a strategic partnership/Memorandum of Understanding ("MoU") between the Company and/or its subsidiary, CIC Construction Sdn Bhd and Huobi Mall to build a Global Data Base Collection Centre in Malaysia is inaccurate.

CGB executive chairman Dato' Faisal Zelman

CGB's Executive Chairman Dato' Faisal Zelman said: "We are indeed in discussion with Huobi Mall on the possibility of collaborating on the construction of a proposed data base collection centre in Malaysia. However, we are still in the midst of evaluating the viability of the aforesaid project and have yet to sign a MoU or any other forms of agreement with Huobi Mall in this regard. We will make further announcements as and when there are any significant developments on this matter."

Central Global Berhad is principally involved in manufacturing and construction. The company is a specialist in industrial tapes and label stock manufacturing as well as a one-stop solution provider for crepe-paper masking. Its construction division was established in 2009 and is mostly active in the northern region of Peninsular Malaysia.

Please contact the below for more information:
Fintan Ng
Tel: +60 12-233 6986
Email: f.ng@swanconsultancy.biz

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

Central Global Bhd Signs MoU for JV to Build RM250M Kwasa Damansara Sewage Treatment Plant

KUALA LUMPUR, Jun 9, 2021 – (ACN Newswire) – Main Market-listed Central Global Berhad's ("CGB) construction arm, Proventus Bina Sdn Bhd ("PBSB"), has signed a Memorandum of Understanding ("MoU") to explore a proposed joint venture ("JV") with Multi Scopes Sdn Bhd ("MSSB") for a sewage treatment plant in Selangor.

CGB executive chairman Dato' Faisal Zelman

The scope of the proposed JV, in which PBSB would have a 70% effective stake and MSSB an effective 30% stake, would be the engineering, procurement, construction, commissioning, operation and handover of Employees Provident Fund's wholly-owned subsidiary Kwasa Land Sdn Bhd's sewage treatment plant in Petaling Jaya, Selangor.

Chief Business Officer of CGB and Director of PBSB Anson Lim said: "For this project, MSSB will manage the technical aspects of the project as they are the technical experts in sewage treatment plants while PBSB will handle the infrastructure part of the project."

CGB executive chairman Dato' Faisal Zelman said: "The proposed JV we are exploring through the MoU is another step in the plans we have to expand our construction business. We believe that the sewage treatment plant project would not only enable us to expand our portfolio of construction projects and orderbook but also provide us with consistent revenue for the next five years in Selangor."

We continue to explore opportunities to grow both the manufacturing and construction businesses of the Group. We have since the beginning of the year won a project worth RM100.5 million for the upgrade of a water supply system in Lahad Datu, Sabah and have had our proposed private placement of 18 million new shares approved by Bursa Malaysia Securities Berhad. Proceeds from the private placement would be used to upgrade the manufacturing arm's capacity and fund a property project in Penang."

As of 31 March, 2021, the Group's construction arm has an orderbook of RM130 million comprising of the Lahad Datu project and the Montage condominium project in Bayan Lepas, Penang.

Please contact the below for more information:
Hakim Juraimi
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

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

ATAL Introduces the City’s First Automated Robotic Parking System for Hong Kong Science Park

HONG KONG, Jun 2, 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, has introduced the city's first automated robotic parking system with electric vehicle (EV) charging for Hong Kong Science Park. Integrated with the innovative Automated Guided Vehicle ("AGV") technology, EV charging and a proprietary mobile application, the system is poised to bring invaluable benefits to space utilisation and provides a safer and hassle-free parking experience with unmanned operation for users. The project is currently in its experience programme for Science Park tenants in order to prepare for the full operational launch.

ATAL introduced the automated robotic parking system for Hong Kong Science Park, the first in the city.

Drivers can simply stop their vehicles on the designated chambers, their vehicles will be automatically parked,
saving much time in search for parking space.

ATAL has developed a proprietary mobile application for users to schedule car retrieval and check car status,
enhancing the entire user experience.

The Robotic Parking system is a fully automatic parking system using robotic technology. With the adoption of AGV technology, users no longer need to look around for empty parking spaces, but simply park their vehicles in the designated chambers and follow the instructions given by the parking and retrieval panel (PRP), the system will proceed the parking automatically. The chamber will then conduct a scan that is able to detect any animate objects inside the car before the AGV directs the vehicle with the pallet to the parking space assigned by the system.

On the back of ATAL's experience in information and communications technologies, the Group has developed a proprietary Robotic Parking System App (mobile app) for this project, aiming to enhance the entire user experience with much greater convenience and security. It facilitates customised traffic planning and car retrieval management to enhance car parking efficiency, while users can also set pick-up time and check car retrieval status via this mobile app, a perfect fit for the busy urban dwellers.

Other than the mobile app, ATAL has also designed a leading EV charging solution by fitting an innovative charging adaptor to each mobile mechanical tray for electric vehicles, thus bringing much convenience to the users. The innovative components of this car park also include its unmanned operation to improve energy saving by minimal lighting and ventilation, rigorous security and safety standards, and eco-friendly solutions for a greener city with no extra carbon dioxide emissions.

Dr Otto Poon Lok-To, Chairman of ATAL Engineering Group, said, "We take pride to be vanguards of this first-of-its-kind smart parking system in Hong Kong. Over the years, ATAL has continued to be a pioneer in introducing new and innovative technologies to Hong Kong. Aligning with the HKSAR Government's Smart City Blueprint 2.0 for Hong Kong, our newly developed Robotic Parking system is able to address the issue of land shortage and will become a new solution to enhance long-term sustainability for the city."

"Adhering to our long-term strategy of 'New Technology, New Market and New Business Model', the HKSTP project marks another milestone for the expansion of our business portfolio. We are also pursuing other intelligent transport business opportunities including the Free Flow Tolling System and Traffic Control Surveillance System. Looking ahead, we will uphold our mission to transform Hong Kong into a world-class smart city and further explore potential development in the Information, Communications and Building Technologies (ICBT) sector. We will actively drive innovative technology advances through our R&D capability, and strive for significant contributions to greater economic efficiency and operational effectiveness, while strengthening our competitive edge, all to achieve higher returns for our shareholders." Dr Poon concluded.

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).

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Central Global Berhad Posts 25% Rise in Revenue

KUALA LUMPUR, May 25, 2021 – (ACN Newswire) – Main Market-listed Central Global Berhad ("CGB") recorded a 25.42% increase in revenue to RM37.56 million for the first quarter ended 31 March 2021 ("1Q2021") compared to RM29.95 million recorded in the same quarter of the previous year.

CGB executive chairman Dato' Faisal Zelman

The Group registered a loss before tax ("LBT") of RM1.03 million for 1Q2021 compared to a profit before tax ("PBT") of RM760,000 in the corresponding quarter of the previous year. On a segmental basis, CGB's manufacturing arm recorded a 48.3% increase in revenue to RM17.36 million compared to the RM11.7 million recorded in the same quarter of the previous year while the construction arm registered a 10.7% increase in revenue to RM20.2 million compared to the RM18.24 million recorded in the corresponding quarter of the previous year.

For 1Q2021, CGB's manufacturing arm registered RM510,000 in PBT from LBT of RM139,000 in the corresponding quarter of the previous year due mainly to higher revenue contribution from trading of industrial tapes and label stocks. For the quarter under review, the construction arm recorded LBT of RM938,000 compared to PBT of RM1.05 million in the same quarter of the previous year mainly due to lower contribution from two projects located in Penang that were completed and handed over in 1Q2021.

CGB executive chairman Dato' Faisal Zelman said: "We continue to be upbeat about the Group's outlook despite the challenges posed by the rise in COVID-19 infections and its impact on business sentiment. The plans that we shared publicly are being implemented and we are confident that these plans will benefit the Group."

"The approval by Bursa Malaysia Securities Berhad of our proposed private placement of 18 million new shares in late April will help these plans along. As we have shared, we intend to upgrade our manufacturing arm's capacity as well as fund an existing construction project in Penang. We have also clinched an RM101 million construction project in Lahad Datu, Sabah that will substantially boost the construction arm's contribution to financial performance in the coming quarters. The manufacturing arm continues to take advantage of the change in market structure arising from a more fragmented competition landscape while the continued supply-chain disruption arising from pandemic lockdowns has given us the opportunity to penetrate the domestic market further."

"The surge of COVID-19 infections has certainly been worrying and we are monitoring the situation as it unfolds. We continue to adhere to all standard operating procedures to ensure the safety and health of our employees, vendors and customers."

Please contact below for more information:
Hakim Juraimi
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

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