Volcano Posts Revenue of RM17.66 Million in First Interim Statement Post-Listing

BUTTERWORTH, Malaysia, May 20, 2021 – (ACN Newswire) – Volcano Berhad ("VOLCANO", Stock Code: 0232), a leading manufacturer of parts and components including metal and non-metal nameplates and plastic injection moulded parts, is pleased to announce the Company's first interim financial statement for the financial year ending 31 December 2021 following its listing on the ACE Market of Bursa Malaysia Securities Berhad.

Volcano Berhad Managing Director, Datuk Ch'ng Huat Seng

For the first quarter that ended on 31 March 2021, the Company registered revenue of RM17.66 million, profit before tax ("PBT") of RM2.0 million and profit after tax ("PAT") of RM1.41 million. There are no comparative figures available for revenue, PBT and PAT for the same quarter of the preceding year and year-to-date as this is Volcano's first interim financial statement following its listing on 6 April 2021.

For the quarter under review, the Company's nameplates segment contributed RM10.86 million to revenue while the plastic injection moulded parts segment contributed RM6.80 million to revenue.

Managing Director of Volcano, Datuk Ch'ng Huat Seng said, "We are cautiously optimistic about our prospects for the rest of the year based on demand from customers in the electrical and electronics ("E&E") industry. We believe that our financial performance should remain favourable for the rest of the year barring any unforeseen circumstances."

"Our expansion plans for the factory in Rayong, Thailand remains in place as we see lots of potential in the country's E&E and automotive industries. We have already allocated RM5 million each year over the next three years for capital expenditure involving these plans."

The Company derives more than 95% of revenue from overseas markets, with the principal markets being customers based in Singapore and Thailand. Besides the E&E industry, Volcano also serves customers from the automotive and aerospace industries.

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

Moglix raises $120 million, joins unicorn club as valuation jumps to $1 Billion

Singapore, May 17, 2021 – (ACN Newswire) – Moglix has reached an important milestone by becoming the first industrial B2B commerce platform, in the manufacturing space, to become a unicorn. The company is said to be valued at $1 billion in its latest $120 million Series E funding round. The latest investment was led by Falcon Edge Capital and Harvard Management Company (HMC). This round of funding also saw participation from its existing investors, Tiger Global, Sequoia Capital India and Venture Highway.

Moglix Founder & CEO Rahul Garg

Moglix is India's largest and fastest growing B2B commerce platform in the industrial & MRO procurement space with a clear first-mover advantage. The Company is building an operating system for manufacturing that provides its customers a full stack service covering procurement, packaging, supply chain financing and highly integrated software.

Rahul Garg, Founder & CEO, Moglix, said:

"We started six years ago with a firm belief in the untapped potential of the Indian manufacturing sector. We had the trust of stalwarts like Ratan Tata, and a mission to enable the creation of a $1 trillion manufacturing economy in India. Today, as we enter the next stage of our evolution, we feel this financing milestone is a testimony to our journey of innovation and disruption.

In these unprecedented times, we have pledged our support and disruptive thinking to help solve the challe nge of effective distribution and sharing of oxygen concentrators covering 1M+ people in the country. Globally, we have also been instrumental, in this and the last year, in streamlining the PPE supply-chain and distribution across 20+ countries.

We are glad that Falcon Edge Capital and Harvard Management Company (HMC) have partnered with us in this journey. Falcon Edge, with its deep roots in the Middle East and Europe and an understanding of public companies will guide us through the next phase of our journey."

Speaking on the occasion, Navroz D. Udwadia, Co-Founder of Falcon Edge Capital said, "We have studied and tracked Moglix for years, driven by our global experience in investing in online MRO platforms. We are strong believers in Rahul, his first mover advantage, his full-stack solution for under-serviced customers and his ability to drive robust unit economics. Moglix's distinctive customer value proposition and ROI are visible in its outstanding customer and revenue retention numbers. We believe Moglix is now well poised to scale and we are thrilled to back the Company in the next phase of its growth."

Tiger Global, which participated in the Series D round in 2019, has also invested in the latest round. Scott Shleifer, partner, Tiger Global Management, said, "We remain excited about the team, market opportunity, and continued innovation. Moglix is a market leader and we expect they will grow rapidly with high returns on capital."

Moglix was founded in 2015, by IIT Kanpur and ISB alumnus Rahul Garg. Moglix provides solutions to more than 500,000 SMEs and 3,000 manufacturing plants across India, Singapore, the UK and the UAE. Several manufacturing majors such as Hero MotoCorp, Vedanta, Tata Steel, Unilever and PSUs such as Air India and NTPC procure indirect material through the Moglix platform. Moglix has a supply chain network of 16,000+ suppliers, 35+ warehouses and logistics infrastructure. With close to 500,000+ SKUs, its marketplace, www.moglix.com is the largest e-commerce platform in the industrial goods category in India.

Moglix also has an award-winning suite of software products for contract management and B2B Commerce. Global FMCG giant Unilever uses the platform for ~$30 billion of material spend annually in 70+countries. Moglix recently launched Credlix, a supply chain financing platform for suppliers and manufacturers and expects to power INR 1000 crore of financing in the coming year.

This latest round of funding takes the total funds raised by Moglix to $220 Million. Accel Partners, Jungle Ventures and Venture Highway have been the earliest investors in the company. Moglix has in-subsequent rounds received investments from leading global venture capital funds such as Tiger Global, Sequoia Capital India, International Finance Corporation and Composite Capital among others. Mr. Ratan Tata, Chairman emeritus, Tata Sons had invested in the start-up in 2016. Leaders from the start-up and manufacturing communities such as Mr. Kalyan Krishnamurthy, CEO Flipkart, Mr. Vikrampati Singhania, MD, JK Fenner and Mr. Shailesh Rao, Ex-Google have been investors in Moglix.

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

Fajarbaru upbeat on property segment’s outlook in Malaysia and Australia

KUALA LUMPUR, May 6, 2021 – (ACN Newswire) – Fajarbaru Builder Group Bhd, a Bursa Malaysia Main Market listed company primarily involved in construction and property development, is upbeat on its property segment's outlook in anticipation of the economic recovery supported by the National Covid-19 Immunisation Programme. The company is also looking to launch new property projects towards second half of this year once market conditions improve.

The Group recently completed its maiden development Rica Residence @ Sentul on schedule, and started handover in mid-March this year. The handover was originally due to kick off up to 3 months earlier, but was delayed due to MCO restrictions.

Fajarbaru Group Chief Executive Officer Dato' Sri Eric Kuan Khian Leng said: "The property division remains a significant revenue generator for the Group in addition to our core business in construction. We have property development interest not just in Malaysia but in Australia as well. Although the Covid-19 pandemic has certainly affected the property segment, there are positive signs that market conditions will improve and we can capitalise on it as long as we adapt and innovate accordingly."

Rica Residence @ Sentul, which has a gross development value (GDV) of RM292.49 million, is Fajarbaru's maiden property development in Malaysia. Despite coming from a 'construction-based' background, the Group's property development segment under its wholly-owned subsidiary Fajarbaru Land has made good on its promise of quality to its first customers and delivered extra value to buyers with the instalment of polyurethane (PU) flooring for its carparks as well as 3 electric vehicle (EV) charging stations.

The latest take-up rate of Rica Residence @ Sentul stands at 82% (including booking). On the balance units, he said, "We are currently in the midst of releasing the remaining developer units. We believe there will be a strong take-up after MCO – the near-completion of the MRT2 in 2022 is also a positive boost for us to do so smoothly. We target to sell off the remaining units by end of 2021." "Once market condition improves, we will also look into the possibility of launching the Rica Residence @ Kinrara project in 2021 which will be based on a condominium development concept." Eric noted.

Meanwhile in Melbourne, Australia, the Group reported that its AUD182.84 million GDV Paragon Queen Street development was completed recently. Its latest take-up rate stands at 93%, and the developer is fairly confident of the sales of the remaining units in its project which has won awards in the Asia Pacific Property Awards 2018-19 and iProperty Development Excellence Award 2019.

This is Fajarbaru's second development after the success of its first sold-out project called 'Gardenhill' in Melbourne in 2017. The Group is now on to its third development here, a project comprising 15 residential two-storey houses along Merri Creek in Northcote, Melbourne.

"The construction from Northcote has not yet started, but it is scheduled for a soft launch sometime in mid-2021 and the interest has been encouraging due to the location. This project will increase our presence in the property market in Melbourne, Australia and expand the Group's earning base," said Eric. The estimated GDV for the Northcote development is approximately AUD40.20 million.

Going forward, Fajarbaru is looking into expanding its local property development footprints not just in the Klang Valley, but also into Penang and Putrajaya once the economy fully reopens. Eric reckons that for projects in prime locations, high-end landed property development will be viable but the market demand for affordable housing and family upgraders cannot be neglected.

The Group will continue exploring landbanks in locations that can generate income for now, and be on the lookout for potential joint-ventures to develop properties in Malaysia and Australia. Fajarbaru is cautiously optimistic on the growth prospects of its property development segment in 2021 and beyond in line with the expected recovery of market conditions.

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

IBI Issues Positive Profit Alert, Expects to Record Over 140% Increase in Profit Attributable to the Owners of the Company

HONG KONG, May 3, 2021 – (ACN Newswire) – IBI Group Holdings Limited ("IBI" or the "Group"; Stock Code: 1547), a publicly listed holding company that holds investments in companies focused on the Built Environment, is pleased to announce a positive profit alert. Based on a preliminary review of the unaudited consolidated management accounts of the Group, the Group is expected to record a net profit attributable to the owners of the Company of approximately HK$51.9 million to HK$56.2 million for the year ended 31 March 2021, representing an increase of approximately 140% to 160% as compared to a net profit of approximately HK$21.6 million for the year ended 31 March 2020, primarily attributed to the significant increase in realised and un-realised fair value gain from investments in listed equities.

Mr. Neil Howard, Chairman and CEO of IBI, said, "We are pleased to record remarkable results amid this challenging year with COVID-19 ravaging the global economy on an unprecedented scale. During the year, we have made good use of our internal resources and have invested in numerous international blue-chip companies with a long history and strong fundamentals. Despite the impact of the COVID-19 pandemic, we are pleased to generate a significant increase in our income for the Group. On the other hand, our core business continued to deliver stable performance despite the challenging environment. We have completed a number of construction projects during the year including luxury projects for the Hong Kong Jockey Club and the Man Wah and Aubrey restaurants for the Mandarin Hotel in Central. Armed with the strong foundation of our core business, as well as the outstanding performance of our strategic investments, it is believed that we are well-positioned to capture future opportunities that will maximise value for our 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 manufacturing 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’s Proposed Private Placement Approved by Bursa Securities

KUALA LUMPUR, Apr 23, 2021 – (ACN Newswire) – Central Global Berhad's ("CGB") proposed private placement of up to 18 million new ordinary shares has been approved by Bursa Malaysia Securities Berhad ("Bursa Securities").

CGB executive chairman Dato' Faisal Zelman

CGB is a manufacturer of specialised industrial tapes and label stocks that pioneered industrial hi-temp masking tapes manufacturing and is a one-stop solution provider for crepe paper masking. The Group's other business is construction, where it recently won a subcontract valued at RM100.54 million to upgrade water supply infrastructure in Lahad Datu, Sabah.

A letter from Bursa Securities dated 22 April 2021 was received by TA Securities Holdings Berhad ("TA Securities"), the advisor and placement agent for CGB, informing of the approval for the listing and quotation of up to 18 million new ordinary shares to be issued pursuant to the proposed private placement.

The proposed private placement is subject to CGB and TA Securities fully complying with the relevant provisions under the Main Market Listing Requirements of the proposed private placement; that CGB and TA Securities inform Bursa Securities upon completion of the proposed private placement; that CGB furnishes Bursa Securities with a written confirmation of the Group's compliance with the terms and conditions of Bursa Securities' approval once the proposed private placement is completed; and, in the event the proposed private placement is not completed before the next annual general meeting ("AGM"), that CGB furnishes a certified true copy of the resolution passed by shareholders for a general mandate under Sections 75 and 76 of the Companies Act, 2016 at the Group's forthcoming AGM.

CGB executive chairman Dato' Faisal Zelman said, "We are glad for the approval as we have plans in the pipeline to expand our manufacturing and construction businesses. We need new machinery that is more efficient and cost-effective for our manufacturing operations and we will use part of the proceeds to fund a construction project in Pulau Pinang."

"As we have plans beyond the immediate ones for both the manufacturing and construction businesses, we are also allocating a portion of the proceeds for future growth as well as having a portion for working capital purposes."

For more information, please contact:
Hakim Juraimi
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

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

Bina Puri wins RM183 million building job in Nepal

KUALA LUMPUR, Apr 20, 2021 – (ACN Newswire) – Bina Puri Holdings Bhd (BPURI) has successfully secured a new international contract worth Nepalese Rupee NPR 5.2 billion (equivalent RM183 million) for the New Construction Project of Supreme Court Building Complex at Ramshahpath, Kathmandu, a project funded by the Government of Nepal.

A filing to Bursa Malaysia today showed that Bina Puri together with Kalika Construction Pvt Ltd and Samanantar Nirman Sewa Pvt Ltd had entered into a joint venture agreement to form "Bina Puri – Kalika – Samanantar JV" to construct the project.

The construction project is awarded by the Supreme Court of Nepal with a contract period of 36 months. It will consist of 7-storey building including two basements, RCC framed structure building with complete finishing, landscaping and MEP (Mechanical, Plumbing and Electrical Works along with firefighting) works.

Group Executive Director Datuk Matthew Tee said: "We have been actively participating in the tender for projects both local and overseas to further replenish our orderbook. With the latest award mentioned, the Group's latest project book order will increase to RM1.9 billion."

Kalika Construction Pvt Ltd is a leading well-known "A" class construction company of Nepal having over 40 years of experience in all types of construction works. It was founded in 1976 and its parent company, Kalika Group operates in five business sectors: Hydropower, Construction, Software Outsourcing, International Trading and FM Radio/Media. The Kalika Group is one of Nepal's largest and most respected business conglomerates.

Whereas Samanantar Nirman Sewa Pvt. Ltd. was founded in 1993 and is currently one of Nepal's growing and most reputable construction companies by successfully delivering a range of projects for government and other market sectors. The works completed by the company comprises of government building, hospitals, water supply system, river protection, roads and infrastructures development in different sectors.

According to the management of Bina Puri, the company's affiliation with Kalika is through both countries' membership in the International Federation of Asian and Western Pacific Contractors' Associations (IFAWPCA) represented by the Master Builders Association Malaysia (MBAM) and Federation of Contractors Associations of Nepal (FCAN). IFAWPCA groups together the fraternity of builders from nineteen (19) member countries in the Asia and Western Pacific region.

A dynamic international organization, IFAWPCA plays a critical role in promoting international fellowship and cooperation; in developing beneficial relationships between governments and contractors in the region, and in establishing cooperative working arrangements in the furtherance of civil and building construction projects.

Bina Puri is among the earliest Malaysian construction company to venture overseas since 1995. Bina Puri had previously completed a five-star Hyatt Regency Hotel in Kathmandu, Nepal in April 2000 valued at RM39 million. Among the shareholders of the hotel is the Asian Development Bank (ADB).

To date the Group has successfully carried out numbers of construction projects in several foreign countries.

Among the notable completed projects are three highways in India including the Vijayawada-Eluru Expressway, Tada-Nellore Expressway in Andhra Pradesh and the Chittorgarh-Mangalwar Highway in Rajasthan, Malaysian Chancery Building and Official Ambassador's Residence in Beijing, China and Access Road for the New Bangkok International Airport in Bangkok, Thailand.

Bina Puri have also completed about 30,000 units of low cost housing and condominiums in various locations in Thailand; 2 Blocks of 45-storey residential towers in Abu Dhabi, UAE; 174 units Villas for the Defense Housing Authority in Lahore, Pakistan and more than 3,000 houses for the National Housing Scheme of Brunei from the Brunei Economic Development Board. Currently undergoing is the construction of the Malaysian Embassy Complex in Moscow, Russia.

About Bina Puri

Bina Puri Holdings Bhd (BPURI) (MY:5932; BIN.MK; BPUR.KL) is a public listed company on the Main Board of Bursa Malaysia with more than 46 years of work experience in civil and building construction both locally and internationally. The Group's diverse business activities include investment holdings, civil and building engineering management, property development, highway concession, quarry operations, manufacturing of construction materials, utilities and hospitality management.

Bina Puri has successfully completed projects such as roads and highways, bridges and interchanges, waterworks, land reclamation works, residential and commercial buildings, hotels, hospitals, airports and government complexes. The group has international presence in which it has successfully undertaken projects in Cambodia, China, Brunei Darussalam, United Arabs Emirates, Saudi Arabia, Pakistan, India, Indonesia and Thailand.

Bina Puri's notable investment portfolios include the 33km toll highway linking KL-Kuala Selangor Expressway, the Main Place Residence and Mall at USJ 21, and power plants in Indonesia. www.binapuri.com.my

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

ATAL Participates in Building First-of-its-kind Automated Vehicle Examination Complex

HONG KONG, Apr 19, 2021 – (ACN Newswire) – Analogue Holdings Limited (stock code:1977) (together with its subsidiaries referred to as "ATAL Engineering Group", "ATAL" or the "Group"), is a leading electrical and mechanical ("E&M") engineering service provider headquartered in Hong Kong with operations in Macau, mainland China, the United States and the United Kingdom. The Group is proud to be a part of the state-of-the-art Transport Department Vehicle Examination Complex ("TDVEC") – a first-of-its-kind facility in Hong Kong that was commissioned earlier this month. In this project, ATAL provided one-stop solutions covering the design, supply, installation and testing and integration of advanced vehicle examination equipment and vehicle inspection control and scheduling systems of the complex.

Hong Kong's state-of-the-art TDVEC with advanced vehicle inspection equipment deployed by ATAL.

The new TDVEC will facilitate inspection of public transport passenger vehicles and goods vehicles.

Dr Otto Poon Lok-To, Chairman of Analogue Holdings Limited, said, "As an innovative company, ATAL is striving to provide advanced solutions that are in line with the Hong Kong Smart City Blueprint. We are proud to demonstrate our multi-disciplinary capabilities in this project, and deliver a one-stop solution that represents the seamless interplay between electrical, mechanical and information technologies. Adhering to our mission of 'We commit, We perform, We deliver', we will continue to deploy other innovative technologies to capture opportunities brought by the concept of smart city, and support Hong Kong to transform into a world-class smart city."

The TDVEC is a new comprehensive multi-storey vehicle examination complex located in Tsing Yi. It is able to examine vehicles with the automated inspection equipment and control systems that are supplied and installed by ATAL. Governed by the advanced integrated control system, the automated examination lanes position vehicles at designated spots for inspection. The inspection equipment provides digitised results, which are displayed in real-time, helping reduce testing time and enhancing efficiency.

In addition, ATAL installed several other innovative systems to protect drivers and staff at TDVEC, namely third roller at brake tester, vehicle presence sensors and a programmable logic controller, ensuring a safe and reliable vehicle inspection experience for all facility users.

The TDVEC will replace the three existing facilities in Kowloon and centralise examination of public transport passenger vehicles, all types of goods vehicles and special purpose vehicles, as well as conducting inspections for type approval of new vehicle models and pre-registration vehicle examinations.

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

Indonesia’s State-owned Companies Go Global, Display Innovation at Hannover Messe Exhibition

JAKARTA, Apr 15, 2021 – (ACN Newswire) – As many as 13 Indonesian state-owned enterprises (SOEs) display their latest innovations at the largest industrial technology exhibition, the Hannover Messe 2021, as Indonesia plans to join the top 10 global economies by 2030.

Minister of State-owned Enterprise of Republic of Indonesia Erick Thohir

"This goal can be achieved by accelerating the fourth industrial revolution, and pursuing not only technological transformation, but the digital transformation of industry, especially during this pandemic," Indonesian President Joko Widodo said.

Indonesia was the first Southeast Asian country to become an official partner of the exhibition, which is being held this week, 12 – 16 April, in a digital edition. Participation at Hannover Messe (HM21) is part of the national policy "Making Indonesia 4.0".

"We expect our state-owned enterprises to 'go global' as we stated in our ministry's road map. Not only through acquisition, but by leading the global competition," said Erick Thohir, Minister of State-owned Enterprises (BUMN).

Some state-owned enterprises have adopted and developed recent technologies to compete with, and even lead the competition in digital technology, specifically in the energy industry, and in the automotive, electronics, chemical and pharmaceutical sectors, and the health equipment industry. All have their innovation on display at MH21.

Indonesia's premier energy holding company PT Pertamina engages 4.0 industry transformation by transitioning energy consumption from fossil fuels to renewable energies. For energizing its sustainable future, Pertamina is converting its refineries to produce green diesel, green jet fuels and green gasoline, optimizing geothermal capacity, and utilizing green hydrogen. It also works with other state-owned companies to develop Indonesian EV batteries and energy storage systems.

The state-owned enterprise in the electricity sector, PT Perusahaan Listrik Negara promotes digital-based products that can acclerate business processes, such as the iCORE Digital Power Plant for electricity generation, Digitally Enabled Distribution Excellence for electricity distribution, PLN Mobile application for customer service and the Charge in application for charging electric vehicles.

A testing, inspection and certification company, PT Surveyor Indonesia is showcasing its drone-powered enhanced solution services for predictive maintenance and remote surveys. Meanwhile, Indonesia's state mint Peruri developed a research institute for authenticity and collaborated with SICPA SA (a Switzerland company) and Giesecke+Devrient (a German company). At the Hannover Messe, Peruri introduces its innovations in digital business solutions with its products Peruri Sign, Peruri Code and Peruri Trust.

PT Pupuk Indonesia, the holding company for state-owned fertilizer producers, has implemented a "Smart Production" system that uses big data and integrates several data including operational data and distributed control systems. The system is expected to increase efficiency of operations and monitors production processes in real-time. The company also implements a 'Smart Distribution' system that integrates data in the warehouse all the way through the ports. Another smart product is the PreciPalm or Precision Agricuture Platform for Palm Oil that provides digital maps on soil condition in oil palm plantation that can give recommendations for fertilization.

Indonesian pharmaceutical holding company PT Bio Farma displays "bio tracking", "bio detect" and an integrated packaging line for vaccine distributions. A thermal sensor and a GPS are installed in vaccine transporting vehicles to monitor temperatures inside the vehicles and their real-time position. Bio Farma hopes to expand to Eastern Europe following HM21. PT Indofarma promotes several premium products and seeks to attract foreign investment in pharmaceutical and herbal products. PT Kimia Farma, another state-owned pharmaceutical company also joins the exhibition, alongside its subsidiary PT Kimia Farma Sungwun Phramacopia.

The largest port operator in Indonesia, PT Pelabuhan Indonesia II is showcasing several of its latest innovations, including i-Hub, an application for one-stop port service and e-government solutions National Single Window and Online Single Submission.

In line with transforming into a digital telecommunications company, PT Telekomunikasi Indonesia brought several digital solutions, including digital connectivity, digital platform and digital service, all being displayed at HM21.

PT INKA, the first integrated train manufacturer in Southeast Asia, presents 'E-Inobus', an electric bus that was produced in a configurable virtual workstation concept. The nation's shipbuilder PT PAL Indonesia introduces a dual fuel (diesel and LNG) barge-mounted plant, a floating power plant that can be operated in shallow waters and remote regions.

Another state-owned company attending Hannover Messe is PT Barata Indonesia, which produces various machinery and components for power plants and trains. The company expects to expand its market and joins the global supply chain for industrial components.

"Leadership and technology transformation will create a momentum that will not only pull us out of this pandemic but will push us to leap further ahead," Thohir said. Indonesia's participation in Hannover Messe 2021 does push state-owned companies in going global, and it opens opportunities in forging business partnerships and investment cooperation with international companies towards building the future of industry 4.0.

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

Volcano IPO Debut Sees Jump of 100% to 70 sen on ACE Market

KUALA LUMPUR, Apr 6, 2021 – (ACN Newswire) – Volcano Berhad ("VOLCANO", Stock Code: 0232), a leading international manufacturer of nameplates and plastic injection moulded parts, successfully listed on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") today.

From left: Volcano Berhad's Executive Director/Chief Financial Officer Khoo Boo Wui, Executive Director Gan Yew Thiam, Managing Director Datuk Ch'ng Huat Seng, Executive Director Yeap Guan Seng and Executive Director Dato' Wong Tze Peng

Chairman of Volcano, Ms. Wong Wan Chin, said: "Aside from making the Group more visible, this IPO will also help with the expansion of Volcano. In today's highly competitive business environment, this expansion will accelerate our move towards automation and streamline our manufacturing process to ensure sustainable growth. We seek to capitalise on our current regional presence, particularly in Thailand and Singapore, to tap into the immense business opportunities available from the rising growth of the electrical and electronics and automotive industries."

Volcano's foreign market accounts for more than 95% of overall revenue in the financial year ended 31 December 2020. Multinational companies comprise 90% of the sales including some leading brand names such as Bernina, Hewlett Packard, Fisher & Paykel Thailand, Donaldson Thailand, Sharp Indonesia and Panasonic Thailand.

Today's listing follows from the Balloting Ceremony on 26 March where Volcano recorded an overall oversubscription rate of 176.60 times from the new shares made available to the Malaysian public.

"While we are humbled by the reception to our IPO from the investing public, we also recognise there are challenges with the fluctuation in raw material prices, exchange rates and the ongoing COVID-19 pandemic. Nonetheless, I am confident that Volcano will thrive as we have the knowledge, we came from hard work and experience, and we have a team of loyal, talented, committed and resourceful people. They are indeed the greatest asset of the Group. Given this, we are optimistic about our growth and future moving forward," said Wong.

Trading of Volcano shares on Bursa Securities on a ready basis commenced at 9:00 A.M. (Malaysian time) on 6 April 2021, under the stock name of VOLCANO and Stock Code: 0232.

TA Securities Holdings Berhad is the Principal Adviser, Sole Placement Agent, Sole Underwriter and Sponsor for the IPO exercise.

For more information, please contact:
Hakim Juraimi
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

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

Central Global Berhad Proposes Private Placement of up to 18 Million New Shares

KUALA LUMPUR, Apr 5, 2021 – (ACN Newswire) – Main Market-listed Central Global Berhad (CGB) has proposed a private placement of up to 18 million new shares representing not more than 20% of the Group's total number of issued shares to qualified third-party investors to be identified at a later date.

Central Global Berhad’s factory in Sungai Petani, Kedah

CGB is a manufacturer of specialised industrial tapes and label stocks that pioneered industrial hi-temp masking tapes manufacturing and is a one-stop solution provider for crepe paper masking. The Group's other business is construction, where it is currently mostly active in the northern region of Peninsular Malaysia.

The proposed placement may be implemented in several tranches within six months from the date of approval from Bursa Malaysia Securities Berhad ("Bursa Securities"), with there being potentially several price-fixing dates and issue prices of the placement shares to be determined separately and fixed by the Board of Directors of CGB after the approval from Bursa Securities. These new shares[1] will carry the same rights as the existing issued shares.

The proceeds from the private placement will be used for a new masking tape coater production line, funding for an existing construction project, working capital and, estimated expenses related to the private placement exercise.

The Group's Board of Directors have laid out plans to fortify the manufacturing business while at the same time expand the construction business through more contracts.

CGB executive chairman Dato' Faisal Zelman said, "The private placement exercise is in line with our plans for the production of masking tapes in the Group's manufacturing business. We want to focus on keeping critical production volumes up, undertake efforts to drive efficiencies in production that can minimise wastage as well as ensure consistency in product quality, which is key to recurring orders especially for our export orders."

"We are also using the proceeds to fund a project in Pulau Pinang from our construction business. We were awarded this project in January 2020 and work commenced in July 2020. We will continue to undertake construction projects and have tendered for several projects. A portion of the proceeds from the private placement exercise will also be used for working capital purposes as well as accelerating future business expansion."

TA Securities Holdings Berhad has been appointed the advisor and the placement agent for the proposed private placement.

[1] Such new shares will not be entitled to any dividends, rights, allotments and/or any other distributions which may be declared, made or paid to the Company's shareholders unless such new shares were allotted and issued on or before the entitlement date of such rights, allotments and/or other distributions.

For more information, please contact:
Hakim Juraimi
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

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