Tag: Engineering

IBI Announces Disposal of Strategic Investments and Realises Gain of HK$25.2 Million

HONG KONG, Apr 1, 2021 – (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 and, air quality monitoring and management, announced the disposal of four of its global investments ("Disposal") through its wholly-owned subsidiary, IBI Investment Holdings Limited ("IBI Investment" or the "Company"). Upon completion, it will realise a total gain of approximately HK$25.2 million.

IBI Investment has diversified investment profiles. As of 31 March 2021, the Company has announced four disposals in the open market, including a total of 94,900 shares of Australia and New Zealand Banking Group Limited ("ANZ"); a total of 96,600 shares of National Australia Bank Limited ("NAB"); a total of 96,600 shares of Westpac Banking Corporation ("WBC") and a total of 27,200 shares of Commonwealth Bank of Australia ("CBA"), for a combined total consideration of approximately HK$58.2 million. As a result of the Disposal, the Group expects to realise a gain of approximately HK$25.2 million, representing the difference between the aggregate consideration of the Disposal and the aggregate purchase price of the shares sold. Subsequently, the Disposal is expected to enhance the Group's cash flow position and it intends to use the net proceeds as general working capital.

Mr. Neil Howard, Chairman and CEO of IBI, said, "Adhering to IBI Investment's mission to extend the Group's reach by making strategic investments, we have been exploring different investment opportunities that would be beneficial to the Group. Leveraging our strong financial position, we have made good use of our internal resources and invested in international blue chip companies with long histories and strong fundamentals. Although the COVID-19 pandemic has invariably affected the global economy, we are pleased to generate a favourable income for the Group amid this adversity and to have added significant additional value for our shareholders."

About IBI Group Holdings Limited (stock code: 1547)
Established in Hong Kong in 1997, the Group is an investment holding company focused on investments in the built environment. With the mission to deliver premium products, services and customer experiences with a strong influence of innovation, sustainability and wellness, the Group principally centers around the role of contracting along with subsidiaries providing innovative and high tech built environment solutions including air quality monitoring and management. Its major customers include a number of reputable organisations and commercial enterprises, including a horse racing and betting operator in Hong Kong, multinational banks, international hotel groups and hotel and casino operators. For more information, please refer to IBI's website: https://ibighl.com/.

Media Enquiries:
Strategic Financial Relations Limited
Heidi So +852 2864 4826 heidi.so@sprg.com.hk
Stephanie Liu +852 2864 4852 stephanie.liu@sprg.com.hk
Adrianna Lau +852 2114 4987 adrianna.lau@sprg.com.hk
www.sprg.com.hk


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

Bin Zayed targets RM100 billion FDI to Malaysia in the next few years

KUALA LUMPUR, Mar 31, 2021 – (ACN Newswire) – Bin Zayed International LLC (BZI) has targeted RM100 billion worth of foreign direct investment (FDI) to Malaysia over the next few years, to be delivered in phases, starting with the development of Widad@Langkasuka.

BZI is a leading conglomerate owned by His Highness Sheikh Khaled bin Zayed Al Nahyan, who is a senior member of the Abu Dhabi royal family member as well as a prominent business leader and philanthropist in the Gulf States, with diverse business interests in the local and international markets, and which its business ventures include management of real estate and construction of residential and commercial buildings and towers.

In a formal letter to the Prime Minister of Malaysia, BZI expressed its strong interest to invest in Malaysia via an exclusive collaboration with Widad Business Group.

"After some productive meetings and further discussions, WBG and BZI are most proud and pleased to jointly inform the Prime Minister that we have agreed to form a joint venture entity in Malaysia for the specific purpose of the development project in Langkawi, Kedah, Widad@Langkasuka. We are confident that this project will become one of the iconic projects in Malaysia which will bring Langkawi global recognition and a truly iconic place that Malaysia would be proud of," said BZI Group Managing Director Sheikh Midhat Kidwai.

"Now that we have solemnized our business relationship via this joint venture, we would like to express our strong interest in acquiring or investing in more concessions and infrastructure projects. Starting with Widad@Langkasuka, we believe that our involvement in projects here can bring in FDI of more than RM100 billion for the next few years. This strong cash flow influx can assist to provide a significant recovery boost for the Malaysian economy as well as the creation of more than 30,000 jobs," he added.

Issued by: Sense Consultancy on behalf of Bin Zayed International

For further media enquiries please contact:
Jaz Ng
Tel: +6012 202 0096
Email: jaz@leesense.com

Anthony Lee
Tel: +6012 338 3705
Email: anthony@leesense.com

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

Dubai-based Bin Zayed Group inks strategic partnership with Widad Business Group to jointly develop Widad@Langkasuka in Langkawi

KUALA LUMPUR, Mar 31, 2021 – (ACN Newswire) – Widad Business Group Sdn Bhd (WBG), an integrated facility management, property and construction conglomerate, has signed a Collaboration Agreement with Bin Zayed International LLC (BZI) to jointly develop the RM40 billion mixed-development project known as Widad@Langkasuka in Langkawi.



The signing ceremony held yesterday at Grand Hyatt Kuala Lumpur was witnessed by Prime Minister Y.A.B. Tan Sri Dato' Haji Muhyiddin Bin Haji Mohd Yassin, Chief Minister of Kedah Y.A.B. Tuan Haji Muhammad Sanusi Bin Md Noor, Y.B. Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali, and Y.B. Widad Business Group founder and group executive chairman Tan Sri Muhammad Ikmal.

The agreement was signed by Widad Business Group executive director Dato' Dr Rizal and Bin Zayed International Group Managing Director Sheikh Midhat Kidwai, paving the way for both parties to jointly develop and construct Widad@Langkasuka. They will also be working together to coordinate with the state government and relevant contractors and consultants concerning the infrastructural development, construction and other works comprised in the project.

BZI is part of the Bin Zayed Group of Companies, a Dubai-based conglomerate that specialises in construction and energy, trading and industry, real estate, technology and financial services. The company was first established in 1988 by Sheikh Khaled Bin Zayed Al Nahyan, a senior member of the Abu Dhabi royal family as well as a prominent business leader and philanthropist in the Gulf states.

Sheikh Khaled holds pivotal positions in several private and public organizations. Currently, he is Chairman of Injaz, a youth-centred non-profit organization, as well as President of the UAE Sailing and Rowing Federation. He previously served as Chairman of Tamweel, a Shariah-compliant property mortgage and finance corporation and Vice-Chairman of Dubai Islamic Bank.

Meanwhile, Widad Business Group is a wholly Bumiputera private company owned by Kedah-born Tan Sri Muhammad Ikmal Opat bin Abdullah, who is also a majority stakeholder of Bursa-listed Widad Group Berhad and Dataprep Holdings Berhad.

Tan Sri Muhammad Ikmal said: "Widad@Langkasuka is a development that is set to transform the landscape of Langkawi and the state of Kedah. For a project of such size and significance, it is important that we collaborate with a partner that possesses the necessary technical expertise and shares the same vision as we do. Therefore, WBG is honoured for the opportunity to work with Bin Zayed Group and Sheikh Khaled, and we look forward to combining our strengths to ensure its successful completion.

"The WBG-BZI strategic partnership demonstrates the great confidence in this high impact project, which will put Langkawi on the global map and transform it into a centre of regional and worldwide attractions," he added.

To recap, the announcement of the project commencement was made in Kedah by Menteri Besar of Kedah Y.A.B. Tuan Haji Muhammad Sanusi bin Md Nor on January 20, 2021. It is expected to be completed within 15 to 20 years.

Worth an estimated gross development value of RM40 billion, Widad@Langkasuka is a modern development with an Islamic and tropical vernacular concept that will change the landscape of Pulau Langkawi and become the main attraction of the island. Currently, almost 90% of the 1,979 acre site consists of the ocean, therefore WBG intends to erect a man-made island which will eventually span approximately 1,000 acres or 50% of the entire area.

Once completed, Widad@Langkasuka will comprise tourism components such as five and six star hotel & resorts, an international golf course located beside the 'Marina Yacht Club', an international business and office complex, shopping malls, higher learning institutions, healthcare facilities and luxury residences. The Group also plans to organise annual events such as "Redbull Air Race", "Power Boat Race", "Jet Ski Race", international fireworks festivals and other culture & art showcases to promote tourism here.

Issued by: Sense Consultancy on behalf of Widad Business Group

For further media enquiries please contact:
Jaz Ng
Tel: +6012 202 0096
Email: jaz@leesense.com

Anthony Lee
Tel: +6012 338 3705
Email: anthony@leesense.com

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

Volcano IPO Shares Oversubscribed by 176.6 Times

KUALA LUMPUR, Mar 26, 2021 – (ACN Newswire) – The shares of Volcano Berhad (VOLCANO) have been oversubscribed by 176.6 times ahead of the Group's listing on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Malaysia).
Volcano Berhad's factory in Perai, Penang



"We are extremely grateful for the confidence our investors have in Volcano, our business, prospect and future plans. Our hard work to build a sustainable business for the past 20 years has paid off," said Managing Director of Volcano, Datuk Ch'ng Huat Seng.

Volcano is raising RM8.75 million from the IPO exercise. From the proceeds, the Group will use RM5.55 million for the purchase of machinery and equipment while RM3.20 million will be used for listing expenses.

"This is just the beginning of our corporate journey. The expansion plan will give a push to the growth of the Group's business," Ch'ng explained. "This is also part of the strategy to increase automation and capacity to meet the demand of our new and existing clients in the electrical and electronics ("E&E") as well as automotive industries."

For this IPO, a total of 23,838 applications for approximately 1.46 billion new Shares with a value of RM512.82 million were received from the Malaysian public for 8.25 million new Shares made available for application by the Malaysian public, which represents an overall oversubscription rate of 176.60 times.

For the Bumiputera portion, a total of 11,624 applications for 594.43 million new Shares were received, which represents an oversubscription rate of 143.11 times.

For the public portion, a total of 12,214 applications for 870.78 million new Shares were received, which represents an oversubscription rate of 210.10 times.

The 8.25 million new Shares available for application by the eligible directors, key senior management personnel, employees and business associates including any other person who have contributed to the success of Volcano and its subsidiaries have also been fully subscribed.

Its Placement Agent has confirmed that the 43.50 million Shares made available for application by way of private placement have been fully placed out.

The notices of allotment will be posted to all successful applicants on or before 5 April 2021.

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

Tan Poh Lin, Vice President for Corporate Finance at TA Securities said, "We are honoured to have been part of Volcano's IPO journey. We are happy that the IPO has been so well received as this is a testament to the confidence the market has in fundamentally solid businesses. Volcano has a strong track record of over two decades supporting multinational companies (MNCs) who form the bulk of its customer base. This is an endorsement by global brands and well-known firms for Volcano's dependability and quality of work."

Volcano's principal markets are Singapore and Thailand. Overall, the foreign market accounts for more than 95% of overall revenue in the financial year ended 31 December 2020. Multinational companies (MNCs) 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.

Volcano's IPO on Bursa Securities is scheduled on 6 April 2021.

Please contact the below for more information:
Stefani Wan
Tel: +6012 286-1481
Email: s.wan@swanconsultancy.biz

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

Greenland Hong Kong’s Core Business Continues Performing Well in 2020, Leads High-quality Development with ‘Two Wings in One’ Strategy

HONG KONG, Mar 26, 2021 – (ACN Newswire) – Greenland Hong Kong Holdings Limited ("Greenland Hong Kong", HKG: 00337) held an online 2020 annual results conference in Shanghai, Mr. Chen Jun (Chairman and Chief Executive Officer of Greenland Hong Kong), Mr. Chen Zeng Li (Vice President) and Mr. Lei Yu (Secretary of the Board) attending the press conference.

Business Highlights (as of 31 December, 2020):

— Revenue was approximately RMB33.73 billion
— Total Assets was approximately RMB164.99 billion
— Net Profit were approximately RMB3,459 million
— Profit for the year attribute to the owners of the Company was approximately RMB2,608 million
— Gross Profit was approximately RMB8,249 million. Gross Profit Margin reached 24.5%.
— Earnings per share amounted to RMB0.94 per share
— Contracted Sales reached approximately RMB54.53 billion, increase 13% year-on-year
— The Board of Directors have recommended the payment of a final dividend of HK$[-] per Ordinary Share for the year ended 31 December 2020
— As at the date of the annual results announcement, Greenland Hong Kong has added approximately 12.15 million square meters of gross floor area (GFA) that costed 149.6 billion from 54 new parcels of land in 20 cities

Mr. Chen Jun, the Chairman and Chief Executive Officer of Greenland Hong Kong said, "2020 was an extraordinary year. Under the novel coronavirus (COVID-19) pandemic, Greenland Hong Kong still made efforts, worked hard, took initiatives, and adopted effective measures and strategies in this hard time, and achieved a remarkable performance by improving our core business and product quality."

The improvement of core business and the integration of financial structure

The Group's total contracted sales amounted approximately RMB54,535 million, representing a year-on-year increase of 13%. The revenue was RMB33.73 billion, total assets amounted RMB164.99 billion and the total profit reached RMB3,459 million. Gross profit was RMB8,249 million and the gross profit margin achieved 24.5%, earnings per share amounted to RMB0.94. While maintaining a high level of profitability, the Company's financial structure has been continuously optimized. The net interest-bearing debt ratio of the Company accounted 49% and the current interest-bearing debt was RMB24.689 billion. The weighted average financing cost drop to 5.5% that maintaining at a low level in the industry. Meanwhile, the Company continued to strengthen the cash flow control. While ensuring a high de-conversion rate of project, it also focused on the sales collection that the total sales collection rate of the whole year exceeded [90%]. Up to now, the Company's book cash stock is RMB13.853 billion, and the cash to debt ratio is 1.3 times, which fully covers the short-term interest-bearing liabilities. It shows the Company's strong operation ability and risk resistance ability, and provides strong guarantee for the further development of the Company.

The continuous of increasing reserve and the strategic layout of "two wings in one" has deepen the Company development

As of the performance announcement date, Greenland Hong Kong has added 54 new projects, 12.15 million cubic meters of land reserves and nearly RMB150 billion of new goods value through various ways such as "group capital injection, strategic land acquisition, cooperative merger and open market", further consolidating the Company's sustainable development momentum. Through the capital injection of Greenland Group, the major shareholder, Greenland Hong Kong obtained 35 projects in the Guangdong-Hong Kong-Macao Greater Bay Area at one time, increasing the construction area by 8.33 million cubic meters. These projects are concentrated in the core cities with large population introduction, high industrial concentration, rapid economic development and competitive advantages. This capital injection has realized the rapid and deep layout of the Guangdong-Hong Kong-Macao Greater Bay Area, formed the strategic pattern of "two wings in one" of the Yangtze Delta and Greater Bay Area, and laid a solid foundation for a new round of development in the future.

Improving quality and efficiency under the lean management. Providing innovative products that is recognized by the market

Comprehensively optimize the large operation system and comprehensively improve the fine management. Greenland Hong Kong has over 5 million square meters of new construction area, nearly 4 million square meters of new supply area, over 4 million square meters of newly completed equipment, and about 4.5 million square meters of completed delivery. At the same time, around the original intention of creating a better lifestyle for customers, we revere every inch of land, adhere to the product concept of "going home is the beginning of vacation", and constantly update the products, so as to build every project into an IP work with green Hong Kong attribute. The annual one-time delivery rate of projects reached 92%, and 75 awards were won, including 20 international awards, 53 national awards and 2 provincial and municipal awards, which were deeply recognized by the market. In the future, Greenland Hong Kong will stick to its ingenuity and set up the competitiveness of the enterprise with the quality benchmark.

In-depth layout "Real Estate +" strategy, continuous expansion and improvement of the industrial layout

Recently, the Company has established an industrial development group, which focusing on the four major business sectors of industrial parks, comprehensive healthcare, long-term rental apartments, and asset management, while strategically coordinate resources, empower energy and improve efficiency, and continuously improve industrial operation capabilities. Last year, the occupancy rate of Morange Fox Mansion exceeded 100%, and the next step will be replicated in Haikou and Wuxi; the occupancy rate of long-term rental apartments is over 90%; together with Huimei Capital which focuses on medical and health care, under Hillhouse Capital's to create a "base + fund + operation" health industrial park Model; Signed a strategic contract with German Medical Valley to import the world's top health technology resources. The Shanghai International Education Park was opened as a whole, and Shanghai Jiaotong University and Gaoteng Innovation School moved in and started school. Greenland Hong Kong has accumulated unique understanding and practice in the rent, occupancy rate, cooperative brand of the park, or the introduction of avant-garde technology, the innovation of smart equipment or service operation mode. Through a series of successful industrial operations, the value of assets has been further enhanced, and a new level of growth has also been created for the development of the enterprise!

Reform and innovation of mechanism and system, continue to stimulate team vitality

In 2020, Greenland Hong Kong boldly promoted system and mechanism innovation, broke the original incentive model and project management method, and comprehensively implements innovative mechanisms such as "project follow-up investment", "management cost contract", "marketing cost contract", etc., so that all employees can form a community which sharing risks and benefits, fully stimulating the vitality of the team, effectively improving the prudence and accuracy of project decision-making and thence to further reducing costs and increasing efficiency, and leaving room for improving corporate operating efficiency.

At the same time, the digital transformation has achieved initial success. Greenland Hong Kong actively embraced digital technology, took the data-centered thinking as its creed, and relied on digital technology to continually provide Greenland Hong Kong full-life-cycle project online digital management support, that to achieve four aspects of Company management, including control, cost reduction, efficiency increase and empowerment, in order to empower the enterprise.

Bravely assume the mission of social responsibility and actively contribute to charity

While focusing on the healthy development of the Company, Greenland Hong Kong also actively pays attention to charity and public welfare undertakings and fulfills its corporate social responsibility and mission. During the COVID-19 pandemic, 2846 Company's caring employees voluntarily organized and donated nearly RMB800,000 in one day, sourcing anti-epidemic materials around the world to help the frontline; fighting the "epidemic" to help farmers, poverty alleviation by industry, overcoming difficulties with farmers; the "Red Coat Village Children's Charity Project" passed the love of owners, customers, employees and their families to left-behind children in poor mountainous areas. There were 35 rural primary schools in 9 provinces, and more than 5,000 poor students benefited. Greenland Hong Kong practicing the corporate mission of "ideal, warm, and sentimental" with practical actions.

Looking forward to the future, Mr. Chen Jun said, "2021 will be the eighth year of the establishment of Greenland Hong Kong and the beginning of the '14th Five-Year Plan'. In the past eight years, Greenland Hong Kong has carried out a better life with diversified businesses, strategically located in the Yangtze River Delta, Guangdong-Hong Kong-Macao Greater Bay Area and other domestic key areas, adhered to the 'real estate +' development strategy, continued to develop with high quality, and reached a new level of comprehensive strength. In the face of the new economic situation and industry structure, Greenland Hong Kong will face up to challenges, actively adapt to the new situation and new changes, run with energy, and will never slacken its efforts to promote the high-quality and rapid development of Greenland Hong Kong."

About Greenland Hong Kong Holdings Limited

Greenland Hong Kong Holdings Limited (337.HK) is a subsidiary of Greenland Holdings, one of the top 500 companies in the world. Ever since its establishment 27 years ago, Greenland Holdings has created a diversified development pattern of "focusing on the development of real estate market and placing equal stress on Big Infrastructure, Big Finance, Big Consumption, medical and healthcare and scientific innovation" with a global presence. By adhering to the development strategies of capitalization, popularization and internationalization, Greenland Holdings has secured its market presence in more than 100 cities of domestic and overseas countries such as China, the United States, Britain, Germany, Australia, Canada, South Korea, Thailand and Malaysia. Leveraging Greenland Holdings' mature brand image, rich resources, large scale and system, advanced management and passionate corporate culture, Greenland Hong Kong will comprehensively consolidate the existing assets and fully utilize the advantages of the capital platform in Hong Kong to establish itself as a benchmark in the Hong Kong capital market for mainland China real estate players.

This press release is distributed by Porda Havas International Finance Communications Group Limited on behalf of Greenland Hong Kong Holdings Limited. For enquiries, please contact greenlandhk@pordahavas.com, or:

Porda Havas International Finance Communications Group Limited

Kelly Fung +852 3150 6763 kelly.fung@pordahavas.com
Ivy Chen +852 3150 6720 i.chen@pordahavas.com
Vicky Ng +852 3150 6739 vicky.ng@pordahavas.com
Fax: +852 3150 6728



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

HKC Announces 2020 Annual Results, Net Profit drops 36% to HK$241.6 Million

HONG KONG, Mar 18, 2021 – (ACN Newswire) – HKC (Holdings) Limited ("HKC" or the "Company"; stock code: 190) has announced the consolidated results of the Company and its subsidiaries (collectively the "Group") for the year ended 31 December 2020 ("Period Under Review").

Financial Review
During the Period Under Review, turnover amounted to HK$1,184.0 million (2019: HK$1,036.9 million), and gross profit amounted to HK$662.2 million (2019:HK$682.4 million). Due to reduced higher-margin leasing revenues, gross profit margins dropped to 56% from 66% in 2019. The Group was also negatively impacted by a HK$98.4 million revaluation loss on its investment properties. This marks a reversal of the HK$91.9 million in gains recorded for 2019. As a result, net profit declined 36% to HK$241.6 million. Basic earnings per share amounted to HK39.5 cents, while basic earnings per share for the same period in 2019 were HK52.8 cents.

Business Review
As regards residential projects, contracted sales were extremely sluggish during the first quarter of the year because of the impact of COVID-19, with sales offices closed and as local governments encouraged people to stay home. As COVID-19 infections were contained, GDP resumed its growth and with the support measures taken by the government, market conditions for residential properties started improving in the second quarter. In the second half of the year, contracted sales reached RMB320.2 million, an increase of 82% compared to the level in the first half of the year, although still 5% lower compared to the same period in 2019.

However, leasing revenues from commercial projects did not show much improvement. Revenues from property leasing declined as the COVID-19 epidemic resulted in reduced demand for office and retail properties. Demand for office properties dropped amid reduced business activity, the government's encouragement of office workers to work from home, and oversupply of office properties. In addition, the government's discouragement of people from leaving their homes and from attending group gatherings reduced foot traffic in retail malls. As a result, instead of an expected increase in leasing revenues following the Group's recent completion of two major office buildings, leasing revenues during the year declined 7% to HK$333.4 million.

Prospects
The continuing impact of COVID-19 around the world, resulting in negative worldwide growth and recession, as well as trade tensions with the United States, will continue to adversely impact the Chinese economy and the property markets. The PRC government's recent policies to control property prices and to reduce risks in the property industry by limiting leverage will continue to have an adverse impact on the industry.

However, the economy is expected to continue improving in 2021, the Group expects moderate growth for residential sales. With regard to existing residential properties, the Group will continue focusing on sales of its residential properties in Tianjin and Shenyang. COVID-19, the reduced demand for office and retail space and the oversupply of commercial property in Shanghai will continue to put pressure on the Group's projects including Shanghai Landmark Center and Sinar Mas Plaza. There are signs of improvement at Group's investment properties in Shenzhen. In Nanxun, the Group is progressing on developing the expansion of its Nanxun furniture and trading material trading center.

For CRE, it will benefit from the full year operation of Songxian which was completed in May.

On 12 January 2021, the Company received a privatisation proposal offered by Genesis Ventures Limited by way of a scheme of arrangement. The procedures are underway and are expected to be completed in the first half of 2021.



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

Volcano Berhad Launches Prospectus for IPO

KUALA LUMPUR, Mar 17, 2021 – (ACN Newswire) – Volcano Berhad ("Volcano" or the "Group"), a leading international manufacturer of nameplates and plastic injection moulded parts, has successfully launched its prospectus for the Group's listing on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities").
Volcano Berhad's factory in Rayong, Thailand



Volcano's initial public offering ("IPO") involves a public issue of 25.0 million IPO shares and an offer for sale of 35.0 million shares at the issue price of RM0.35 sen per share, made available for application in the following manner:

Public issue:
– 8.25 million new shares will be available for application to the Malaysian public;
– 8.25 million new shares will be allocated for application by eligible directors, key senior management, employees and business associates; and
– 8.50 million new shares will be offered by way of private placement to identified investors.

Offer for sale:
– 14.375 million shares by way of private placement to identified investors; and
– 20.625 million shares by way of private placement to identified bumiputera investors approved by the Ministry of International Trade and Industry.

The IPO is expected to raise gross proceeds of RM8.75 million. From the proceeds, the Group will use RM5.55 million for the purchase of machinery and equipment while RM3.20 million will be used for listing expenses.

Managing Director of Volcano, Datuk Ch'ng Huat Seng, said: "We are one step closer to an important milestone for Volcano since our establishment in 1999. For the co-founders, it is also a significant event in our professional careers to have come this far and we see our prospects supported by a strong and long-term customer portfolio comprising multinational companies from around the world. Our products are also used in end-user markets especially in the electrical and electronics ("E&E") as well as automotive industries."

"The proceeds from the IPO will go towards acquiring laser-cutting and pick-and-paste machines to improve the efficiency and capability of our nameplate manufacturing process. We are going to purchase additional plastic injection moulding machines to expand the plastic injection moulded parts manufacturing business. Besides the purchase of machinery and equipment, we are also going to expand our factory in Rayong, Thailand as we intend to expand our presence in the E&E and automotive industries in the country."

Volcano's principal markets are Singapore and Thailand. Overall, the foreign market accounts for more than 95% of overall revenue in the financial year ended 31 December 2020. Multinational companies (MNCs) 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.

Volcano's Principal Adviser, Sole Placement Agent, Sole Underwriter and Sponsor in relation to the IPO is TA Securities Holdings Berhad ("TA Securities"). Pursuant to the underwriting agreement, TA Securities will be underwriting for shares available for application by the Malaysian public.

Datuk Ch'ng said: "Where we are today is also due to the hard work and dedication of the Volcano team. They are experienced and committed with operational expertise and in-depth knowledge of manufacturing of nameplates and plastic injection moulded parts. Our sincere gratitude goes to our customers and suppliers throughout the years that have continued to support our growth and success. We would also like to extend our gratitude to the team at the Securities Commission and Bursa Securities in assisting Volcano throughout the IPO process."

Please contact the below for more information:
Stefani Wan
Tel: +6012 286-1481
Email: s.wan@swanconsultancy.biz

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

Wai Hung Intends to Build Approximately 1 Million Smart Parking Spaces in Nine Countries in the MiddleEast Countries With Total Contract Sum Reaches Over HK$100 Billion

HONG KONG, Mar 9, 2021 – (ACN Newswire) – Wai Hung Group Holdings Limited ("Wai Hung" or the "Group") (stock code: 3321) is pleased to announce that Wai Hung Hong Construction Engineering Limited ("WHHCE"), an indirect wholly-owned subsidiary of the Company, entered into a Cooperation Agreement with Investment Projects General Trading Company ("IPGT") today. The Group intends to build facilities for approximately 1 million smart parking spaces and provide relevant construction services for the proposed urban property project in the MiddleEast Countries to be developed with IPGT (the "Middle East Project"). The parties shall not cooperate with any third party in providing artificial intelligence garage system in the MiddleEast Countries within the term of the Cooperation Agreement (i.e. 5 years).

IPGT is a company incorporated in the State of Kuwait, which is principally engaged in the business of infrastructure and high-tech products and systems in the Middle East. The shareholders and key member of the management of IPGT include Sheikh Ali Khalifa Al-Sabah ("Sheikh Ali"), a member of Kuwait's royal family who served as the finance minister and oil minister of Kuwait and the chairman of the Organization of the Petroleum Exporting Countries and has substantial business resources in the Middle East.

Mr. Li Kam Hung, Chairman of Wai Hung Group Holdings Limited, said, "The cooperation between the Group and IPGT is to aim at fulfilling a long-term objective in building facilities for approximately 1 million smart parking spaces in nine countries in the MiddleEast Countries, i.e., the six countries in the Gulf Cooperation Council (namely, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman, and the United Arab Emirates), Egypt, Iraq and Jordan. The total contract sum of the Middle East Project, if materialised fully, could reach over HK$100 billion. The Board is of the view that such cooperation with IPGT will further diversify the Group's business scope and source of income as a whole. It may also facilitate cooperation between the Company and major enterprises in Japan, Korea and China that are interested in infrastructure projects in the Middle East. The Group is expected to establish a leading position in the industry upon completion of the project."

About Wai Hung Group Holdings Limited (Stock Code:3321)
Wai Hung Group is a contractor providing fitting-out services and repair and maintenance services in Macau. The Group's fitting-out services primarily cover refitting works for existing buildings and extend to casinos, retail areas, hotels, restaurants, commercial properties and residential properties. The Group has developed smart garage since September 2020 to diversify its businesses.



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

Engineers Worldwide Today are Building a Sustainable Tomorrow

PARIS, FRANCE, Mar 4, 2021 – (ACN Newswire) – Engineering has been an important profession, helping to tackle major issues such as poverty reduction, climate resilience, public health and sustainable development. "The foremost problem facing the world today is sustaining human development and preserving the planet. Whenever there is a problem, there is a need for engineering solutions," says Gong Ke, President of the World Federation of Engineering Organizations (WFEO).





On 4th March 2021, the annual World Engineering Day (WED) will convene under the auspices of UNESCO. As the UNESCO Director-General, Ms. Audrey Azoulay explains, WED will "celebrate the achievements of engineers and their contributions to sustainability and a better quality of life for all." This year, WED welcomes the high patronage of Emmanuel Macron, President of France and coincides with the launch of the second UNESCO engineering report, "Engineering for Sustainable Development" with UNESCO's partners, the WFEO, the Chinese Academy of Engineering (CAE), Tsinghua University, and the International Centre of Engineering Education (ICEE), among many others. Representatives from over 10 different countries, genders and age groups from youths to adults, will speak at WED 2021. In addition, many more diverse engineering communities will join in over 50 WED events held concurrently in every continent around the world.

The WFEO is represented by over 100 national engineering institutions and 30 million engineers globally, leading the WED initiative to increase worldwide recognition of the important role of engineering in accelerating the United Nations' 17 Sustainable Development Goals (SDGs). Engineering education and capacity building are keys to enabling the SDGs. Politicians can foster them; institutional investors can fund them; but only engineers can build them.

"World Engineering Day is an opportunity to recognize the important work that engineers need to do, in addressing climate change and developing technologies for a carbon free economy. It is engineering innovations that will achieve this goal. Engineers will ensure that cities are cleaner, more sustainable, smarter and livable. And importantly, engineers will ensure that everyone has safe clean accessible water, sanitation systems and affordable and reliable energy", says Marlene Kanga, Past National President of Engineers Australia and the Immediate Past President of WFEO.

Calling for more global action from multiple stakeholder groups, "We hope that this new UNESCO engineering report will help stakeholders from government, industry and academia articulate the value of engineering, inspire ideas to improve and innovate engineering, and help achieve the full potential of engineering to benefit the sustainable development of humankind and planet Earth," says Zhou Ji, Honorary Chairman of the Governing Board of the CAE and Co-chair of the Advisory Board of ICEE.

The advent of the Fourth Industrial Revolution has brought technological advances in artificial intelligence, big data, Internet of Things and blockchain, transforming the ways people live and interact with their physical, biological and digital space. "These transformations can be seen in every field of engineering, profoundly affecting industrial systems, production and governance," says Audrey Azoulay.

Engineering innovations are developing rapidly and these global efforts are critical for solving current challenges and building a better future for humankind. In the past year, engineers have been in the spotlight for their creative solutions to address the COVID-19 pandemic. Marlene Kanga notes that in the year following the coronavirus pandemic, the theme of the WED celebrations in 2021, Engineering for a healthy planet, "acknowledges the work of engineers and engineering in the search for a new vaccine, using artificial intelligence and data analysis in the process. Advanced manufacturing technologies such as 3D printing has been used in the manufacture of personal protective equipment. Refrigeration technologies and transportation and logistics innovations are being used to transport vaccines to every corner of the earth. This is truly a year where the world could not exist without engineering."

"The COVID-19 pandemic has accelerated the call for urgent action, while affirming the relevance of engineering to sustainable development," observes Gong Ke. He also encouraged more affirmative action in the engineering community, saying that "engineering should play a more proactive role in the fight against COVID-19 and in the pursuit of a truly transformative recovery to build back better."

Audrey Azoulay raised a pressing concern on the strain that the pandemic has placed on engineering education. "To train our best engineers to tackle these global challenges, we need young people to study mathematics and science from an early age; however, the global pandemic has led to the closure of educational institutions for 1.5 billion learners worldwide – more than 90% of the world's school population – with dire consequences for their education."

Thus, it is imperative for engineers to innovate on engineering education, curricula, new teaching methods and education delivery. "Training engineers for the implementation of the SDGs requires not only new competencies, including creative learning and thinking, complex problem-solving, interdisciplinary and international cooperation, and a code of ethics, it also demands a change in engineering education itself," says Jose Vieira, President-Elect of WFEO.

Marlene Kanga also emphasized the importance of encouraging all young people, boys and girls, to consider engineering as a career and to encourage them in this choice. She says, "if you want to change the world, become an engineer."

"At present, however, resources for engineering science and technology and engineering education are not equitably distributed. Developing countries and regions, in particular, are lacking in qualified engineers and engineering resources. We therefore urge the global engineering community to work to establish a more equitable, inclusive, developmental and mutually beneficial world for all, by working closely with government, industry and academia; by empowering engineering capacity-building in disadvantaged regions; and by tackling global challenges through joint efforts," says Zhou Ji, calling attention to the gaps in resources distribution and making sure that no one is left behind.

One important global resource is water. "Water, as a prerequisite for life, assumes a special focus in terms of sustainable development. The close relationship between human health and the well-being of communities with access to clean water is a determining factor for the economic and social development of society," says Jose Vieira. Significant progress in water and environmental engineering have led to greener technologies and more sustainable development of our planet.

"Engineering itself needs a transformation to be more innovative, inclusive, cooperative and responsible," says Gong Ke, "The engineering report to be released is a new report published 10 years after the first landmark engineering report of UNESCO, aiming to increase the public awareness of the crucial role of engineers and engineering in achieving every one of the 17 Sustainable Development Goals; to call for global collaboration among governments, industries and civil society; to promote engineering innovations, and to transform the engineering profession with a stronger capacity to respond to the pressing challenges faced by humankind and the planet; and to shape a peaceful, prosperous, inclusive and sustainable world for all people with no one left behind, encouraging more collaboration and sharing of engineering resources at a global level."

Ultimately, WED aims to promote engineering awareness, diversity, collaboration, education and resources sharing, with a common global goal to achieve the SDGs by 2030.


Christine Tan, PhD CEng FIET is a Royal Chartered Engineer, Fellow of the Institution of Engineering and Technology UK, and Professor of Science and Technology Education at Fujian Normal University China. She is an active science writer and STEM outreach volunteer.

Media contact
World Federation of Engineering Organizations
Maison de l'Unesco, 1 rue Miollis, 75015 Paris, France
Contact Person: Wang Guanyi
Tele: +33 1 45 68 48 47
Website: http://www.wfeo.org/



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Broad Homes (02163.hk) Well-positioned for Revenue of RMB4.92 Billion in 2021, an Expected Increase of over 80%

HONG KONG, Mar 1, 2021 – (ACN Newswire) – On February 26, 2020, Broad Homes (02163.HK) released its annual results announcement for 2020. In 2020, it achieved total revenue of RMB2,613.9 billion, a year-on-year decrease of 22.4%, gross profit of RMB926.8 million, a year-on-year decrease of 19.0%, net profit of RMB216.4 million, a year-on-year decrease of 68.0%, and an increase in gross profit margin from 34.0% in 2019 to 35.5% in 2020.

Broad Homes remarked that the decline in revenue was on one hand attributable to delayed construction progress of certain of its joint factories due to the COVID-19 pandemic, and on the other, a decrease in gains from loss of significant influence in associates by over 70% in 2020 from the corresponding period last year as a result of an adjustment in management mode of certain joint factories, as well as the improving layout of joint factories nationwide with the progressing of the "Broad Homes United Program".

However, it is noticeable that PC unit manufacturing business of Broad Homes secured remark performance in 2020, with new contract amount reaching RMB4.09 billion, up 31.7% from RMB3.106 billion the corresponding period last year, and backlog amount reaching RMB5.196 billion, up 38.6% from RMB3.749 billion the corresponding period last year. Sufficient orders of the PC unit manufacturing business pave the way for Broad Homes in 2021.

Looking into future, Broad Homes will embrace more opportunities leveraging the three advantages of rapid industry development, its data-driven and B+C dual-diver strategies. According to the Resolution in Relation to the Financial Budget Report for 2021 as set out in the appendix of Meetings to be Resolved at Annual General Meeting and Notice of Annual General Meeting published together with its annual report, Broad Homes budgets a revenue of RMB4.92 billion for 2021, a year-on-year increase of 88%.

PC Unit Business to Ride upon the Potential Industry Boom

In recent years, the state vigorously guides and encourages the development of the prefabricated construction industry. Thanks to the policy support of the central government, Ministry of Housing and Urban-Rural Development and other competent authorities, domestic prefabricated construction industry has embarked on rapid development. Pursuant to Frost & Sullivan, market scale of PC unit manufacturing business reached RMB65.4 billion in 2020, and is expected to reach RMB285.5 billion in 2024 at a CAGR (Compound Annual Growth Rate) of 44.5%.

With the progressing of the "Broad Homes United Program" and improving layout of joint factories, Broad Homes primarily generate revenue from its PC unit manufacturing business, which achieved revenue of RMB2.4192 billion, a year-on-year increase of 5%, and as a proportion of total revenue increased to 92.6% from 68.4% of the corresponding period last year. Riding upon its on-going rapid growth, PC unit manufacturing business has become the core business of Broad Homes. As of June 2020, Broad Homes had 15 wholly-owned PC factories and 88 joint PC factories accumulatively contracted for, making it China's largest PC unit and PC equipment manufacturer.

According to the "2020 China Real Estate Industry Chain Strategic and Integrity Supplier Research Report" issued by China Real Estate Chamber of Commerce, Broad Homes was the most preferred cooperator among "Prefabricated Structure – PC Structure" brands in real estate suppliers.

As an industry pioneer, after more than two decades of exploration, Broad Homes has been blessed with marked advantages amid the rapid development of the industry, which, the market believes, is well positioned to enjoy the dividend from the rapid growth of the prefabricated construction industry.

Comprehensive Establishment of Digital Platform to Focus on Intelligent Upgrading

According to information available, Broad Homes is the pioneer and leader in the industrialization of construction industry in China and the first to adopt full process digital information system and industrial chain technology system with exclusive intellectual property rights, which is capable of offering global, scalable professionalized and intelligent manufacturing of prefabricated buildings and services

As the only prefabricated construction enterprise having been selected for the Pilot Demonstration Project of Intelligent Manufacturing by the MIIT (Ministry of Industry and Information Technology of the PRC), Broad Homes has embarked on establishment of a prefabricated digital platform, upgraded digital development strategy and successfully forged two intelligent systems of PC-Maker software service strategy and PC-CPS system.

PC-Maker service strategy is able to enhance the design interactivity and optimize the design process. Through data collection, utilization and sharing, it promotes the virtuous circle of work done by different parties and continuously enhances the cooperation with and upgrading of strategic customers. As of the end of 2020, Broad Homes has provided comprehensive prefabricated construction solutions to almost 300 property developer, including Vanke, Country Garden, Evergrande, Jinke and Gemdale. The PC-Maker service strategy enables Broad Homes to realize the transformation from business cooperation to standard co-construction, and accelerates the comprehensive upgrading of prefabricated buildings to standardization, digitalization and intelligence at the product end.

Capitalizing on the mature PC-CPS intelligent manufacturing system, Broad Homes commences to transform into data-driven production at the demand end, and realized flexible demand-based manufacturing through digital definition of various elements of the industrial chain, which promoted and achieved efficiency, intelligence and visualization of the whole construction process, and further improved the product quality and construction efficiency. Providing full process digital solutions for prefabricated buildings with PC-CPS system helps to solve problems such as cost, logistics and supply chain management, and facilitates enterprises to achieve excess profit.

Consolidating Industry Leading Position Leveraging B+C Dual-driver Strategy

At the recent Central Rural Work Conference, General Secretary Xi Jinping emphasized that, the state had made it clear to comprehensively promote rural revitalization, accelerate the development of rural industries, deepen rural reform, implement rural construction, and improve the quality of rural housing construction. As a forerunner of construction industrialization, Broad Homes proactively responded to the national strategy to implement rural construction, and successfully realized the strategic transformation from TOB to TOB+TOC in 2020.

At the business end, Broad Homes remains committed to PC unit manufacturing and intelligent manufacturing research and development (R&D), and gradually shits focus away from construction contracting. Broad Homes developed PC Maker software and PC CPS to improve its production efficiency and cost control capacity. Meanwhile, Broad Homes was the first to realize the importance of data elements, and took the lead in the full process prefabricated construction intelligent-oriented development.

At the consumer end, taking advantage of the policy of "separation of ownership, contracting right and management right" in rural homesteads, Broad Homes is expected to get involved in the trillion-level rural housing construction market. In 2020, Broad Homes focused on developing TOC business and launched B-house and the new product B-BOX. B-house products mainly target C-end consumers and the rural villa market, under which Broad Homes introduced seven standardized products, such as Buttonwood Villa, Oak Manor and Camphorwood Villa, established and opened B-house parks in Changsha, Wuhan, Tianjin and other cities, and developed new housing supply schemes to meet the diversified and customized consumption needs of the market, which is transforming the development trend of the traditional rural housing market.

TF Securities predicts that Broad Homes will embrace rapid development in the prefabricated rural villa market segment, its product type design will satisfy the demands of the whole market in the future and TOC business scale (excluding B-BOX) will reach RMB5.25 billion in the next three years, thereby contributing to considerable performance growth. In view of the expansion of housing market demand and the leading advantage of digital intelligent technology, Broad Homes is well positioned to consolidate its leading position in the prefabricated construction industry.

According to expert analysis, in 2020, China further introduced a more detailed industrial digital development strategy. In the new development era, Broad Homes continuously increases investment in digital economy, promotes R&D and digital upgrading, focuses on the principal business of PC unit manufacturing, and specifies the TOB+TOC dual-driver development strategy, which has laid a solid foundation for the rapid expansion of its PC unit business and the leading position in the prefabricated industry, and its future performance is expected to gain remarkable growth.


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