Minetech Awarded RM36.71 Million Mini-Hydro Project

KUALA LUMPUR, Jan 11, 2023 – (ACN Newswire) – Minetech Resources Berhad, a civil engineering specialist and bituminous products manufacturer today announced that the Company's wholly-owned subsidiary, Techmile Resources Sdn Bhd (TRSB), has accepted a letter of award (LOA) from Tesdec Hydropower Sdn Bhd for the engineering, procurement, construction and commissioning (EPCC) of a 3MW mini-hydro power plant at Sungai Pelagat, Besut, Terengganu valued at RM36.71 million.

The project, which is expected to commence in January 2023, followed by construction in 2025, is expected to be completed by May 2027, comes under the Sustainable Energy Development Authority's (SEDA) feed-in-tariff (FiT) programme in which businesses or individuals that hold SEDA's feed-in approval certificate can sell RE at the FiT rate to distribution licensees such as Tenaga Nasional Berhad.

TRSB provides EPCC as well as maintenance, repair and overhaul (MRO) services for the energy industry. Tesdec Hydropower is a sub-subsidiary of Tesdec Berhad through its subsidiary, Tesdec Services Sdn Bhd. Tesdec is wholly-owned by the Terengganu government while Tesdec Hydropower is principally involved in renewal energy (RE) activities, development and facilities in the state.

Dato' (Dr). Ts. Awang Daud bin Awang Putera, Executive Chairman of Minetech said, "This project represents for us another step forward in our venture into RE that began in 2020 as part of an organisational transformation at Minetech, which includes diversification and rationalisation. Our move into RE enables us to partake in the development of a sustainable economy that is in line with initiatives in recent years to be greener and ensure social wellbeing."

"The 3MW mini-hydro power plant project will allow us to also showcase what Minetech is capable of as we seek more opportunities in RE. As a registered solar photovoltaic investor with SEDA and the owner of a 9.99MW AC floating solar power plant located in Pantai Remis, Perak, we are also able to sell electricity to government agencies, businesses and individuals under SEDA's Net Energy Metering Programme or NEM 3.0."

YAB Dato' Seri Dr. Ahmad Samsuri bin Mokhtar, Menteri Besar of Terengganu said, "The state government is committed to driving economic growth through such projects where positive spillover effects include lowering greenhouse gas emissions, mitigating the impact of human activities to the environment and safeguarding the wellbeing of communities through socio-economic progress".

Chairman of Tesdec Hydropower, YB Ir. Saiful Azmi bin Suhaili said, "We are pleased to initiate this renewable energy project that will bring benefits to the people of Terengganu by providing a stable and clean source of electricity that can also support essential backup power should there be power outages or disruptions."

The LOA signing ceremony was held at Primula Beach Hotel, Kuala Terengganu and were witnessed by Terengganu Menteri Besar, YAB Dato' Seri Dr. Ahmad Samsuri bin Mokhtar and Executive Chairman of Minetech, Dato' (Dr). Ts. Awang Daud bin Awang Putera. Executive Directors, Ts. Azlan Shah bin Zainal Arif and Mr Matt Chin signed on behalf of TRSB while Directors, Ir. Rosdan bin Ismail and Ts. Shahidan Izham bin Yeop Ibrahim, signed for Tesdec Hydropower.

Image Caption
From L-R:
1. Ts. Shahidan Izham bin Yeop Ibrahim, Director of Tesdec Hydropower Sdn Bhd
2. Ir. Rosdan bin Ismail, Executive Director of Tesdec Hydropower Sdn Bhd
3. YB Ir Saiful Azmi, Chairman of Tesdec Hydropower Sdn Bhd
4. YAB Dato' Seri Dr Ahmad Samsuri bin Mokhtar, Menteri Besar of Terengganu
5. Dato' (Dr). Ts. Awang Daud bin Awang Putera, Executive Chairman of Minetech Resources Bhd
6. Ts. Azlan Shah bin Zainal Arif, Executive Director of Minetech Resources Bhd
7. Matt Chin Leong Choy, Executive Director of Minetech Resources Bhd

From L-R (Standing):
1. YB Ir Saiful Azmi, Chairman of Tesdec Hydropower Sdn Bhd
2. YAB Dato' Seri Dr Ahmad Samsuri bin Mokhtar, Menteri Besar of Terengganu
3. Dato' (Dr). Ts. Awang Daud bin Awang Putera, Executive Chairman of Minetech Resources Bhd
From L-R (Seated):
1. Ts. Shahidan Izham bin Yeop Ibrahim, Director of Tesdec Hydropower Sdn Bhd
2. Ir. Rosdan bin Ismail, Executive Director of Tesdec Hydropower Sdn Bhd
3. Ts. Azlan Shah bin Zainal Arif, Executive Director of Minetech Resources Bhd
4. Matt Chin Leong Choy, Executive Director of Minetech Resources Bhd

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

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

ASEAN Ceramics 2022 celebrates its return as the Ceramic Hub of Southeast Asia in Bangkok

  • The resumption of the leading and only regional exhibition for Ceramics
  • More than 100 exhibitors and brands globally
  • The trade fair consisting of exhibitions and its holistic supporting programs attracted 2,128 attendees spanning from nearly 30 countries

BANGKOK, Dec 16, 2022 – (ACN Newswire) – Once again, the ASEAN Ceramics trade fair has successfully established its status as the meeting point of the Ceramics Industry. Inaugurated by His Excellency Dr. Surapol Chamatr, Deputy Permanent Secretary of Ministry of Industry of Thailand with Mr. Paolo Dionisi, Ambassador of The Embassy of Italy and Giuseppe Lamacchia, Trade Commissioner of Italian Trade Agency, the show opened its doors to over 100 exhibitors and brands and 2,128 attendees from nearly 30 countries attended the event from 30 November – 02 December 2022. The top 5 international visitors came from ASEAN 82.4%, Asia 10.2%, Europe 4.0% and others 1.6% with the largest footprints coming from India, Vietnam, Malaysia, Japan, Singapore and Indonesia. The exhibition is a continuation of its previous editions to reunite the Ceramic Industry in support of providing the ASEAN region with access to the world’s leading technologies, equipment, solutions, know-how and best practices available in the market. Suppliers of the industry were able to meet, network and showcase their expertise to the key buyers and trade visitors, and have successfully strengthened and re-established their foothold in the world’s most dynamic region for the ceramics industry.

The trade fair calls for a significant regathering of the industry, and its positive turnout reflects the strength and commitment of the sector to reconnect after the pandemic. As highlighted by several exhibitors and trade visitors, a platform such as ASEAN Ceramics is still undoubtedly the best way to network and gain exposure to a global reach in the shortest amount of time. Michael Wilton, CEO & Managing Director of MMI Asia Pte Ltd and organiser of the exhibition, emphasized, “It is heartening to witness the regathering of the Ceramics Industry after the years of restrictions on physical meetings, be it for business or socially. There is a strength in this reunion as it reflects the sector’s commitment and pursuit for knowledge to support the overall growth of Ceramics in the Southeast Asian region.”

This edition of ASEAN Ceramics was in partnership with the ICTA2022 Conference which held technical presentations on Ceramic Industrial Technology, Glass and Coatings Technology, Advanced Ceramics and Ceramic Art and Design. Exhibitors were also invited to demonstrate their products in the Exhibition Seminar where the latest digitalisations, machineries, technologies and products were showcased to trade visitors and key buyers of various industries from Construction & Housing (bricks & roof tiles, wall & floor tiles, sanitary ware, clay) Consumer Goods (table & ornamental ware, household appliances), Industrial Applications (abrasives & refractories), High-Tech and Innovation such as Healthcare, Electronics, Security & Transport and Renewable Technologies and more.

The trade fair included several side events such as – a pre-event Factory Tour, Job & Education Fair, CICT Manufacturers’ Pavilion, Technical Ceramics Pavilion and a Ceramics Workshop, which offered visitors a holistic experience of current technologies and trending developments in the market. Both MMI Asia and Asian Exhibition Services joined forces to take ASEAN Ceramics to a new international level of excellence in Bangkok.

Various solutions, technologies and state of the art machineries were demonstrated at the event which include:

– Five Innovative product line market strategy such as DigitalGlass and KRYSTAL provided globally distributed ceramic products with excellent quality and performance by Younexa (Thailand) Co., Ltd

– Performance coating technologies and digitalization solutions by Ferro Performance Materials (Thailand) Co., Ltd/Vibrantz Technologies

– Sophisticated and fast-growing products in the sector such as specialty Alumina and Aluminium Tri-Hydrate materials from Hindalco Industries Limited

– Modernization and optimization of production processes on raw materials, sanitary ware and tableware pioneered by Source Runner Enterprise Co., Ltd./MCS Portugal

– Contamination free raw materials curated for Ceramic, Refractory & Catalyst Industry to provide maximum results using modern techniques by Deedwaniya & Brothers/DB Group.

ASEAN continues to boast a diverse production market in the manufacturing of sanitaryware, raw materials, insulators, tableware, giftware, supplies, refractory, heavy clay and advanced ceramics. The next ASEAN Ceramics – the 6th edition of Southeast Asia’s leading international exhibition of Machinery, Technology and Materials for manufacturing white-ware, heavy clay and advanced ceramics, will take place from 28 November – 30 November 2023 at the International Center for Exhibitions (ICE) in Hanoi, Vietnam.

For more information, please visit: www.aseaanceramics.com.

About ceramitec

ceramitec is the central event at which the entire ceramics industry–from manufacturers through to scientists–comes together. Over the course of four days, over 600 exhibitors from all over the world present their entire portfolios at the ceramics trade fair: machinery, devices, systems, processes, and raw materials. Every branch of the industry is represented, from classic ceramics through industrial ceramics, ceramic engineering to technical ceramics and powder metallurgy.

As a trade fair for suppliers, ceramitec is the meeting point for leading manufacturers, users, and scientists. This is a place to meet people and share your expertise. This forges synergies and raises awareness of new technologies and applications in industry, research, and development. Find more information about our visitor and exhibitor profiles here.

The next ceramitec will be held in Munich from April 23 to 26, 2024.

About ASEAN Ceramics

ASEAN Ceramics, known as the Ceramic Hub of Southeast Asia, is a platform for reconnecting the region’s Ceramic Industry. The trade far will continue to alternate on an annual basis between Thailand and Vietnam. The exhibitions will provide the ASEAN region access to the world’s leading technologies, equipment, solutions, know-how and best practices available in the market. Suppliers to the industry will meet, network and showcase their expertise to the key buyers from the region, and either strengthen or establish their foothold in the world’s most dynamic region for the ceramics industry. ASEAN Ceramics is organized by MMI Asia in cooperation with founders of the event, Asian Exhibitions Services Ltd. (AES).

About MMI Asia Pte Ltd

MMI Asia is a full subsidiary of one of the world largest and leading exhibition organizers; Messe München GMBH (MMG). MMI Asia was established in Singapore in 1992 and is now embarking on a significant growth and expansion program, bringing some of MMG’s world leading brands to the ASEAN market. MMG is the owner and organizer of the world’s leading ceramics trade fair ceramitec organized every three years in Munich.

Press contact
Syafia Naniesya (Nanie)
Marketing Executive
MMI Asia Pte Ltd
Tel: (65) 6236 0988 ext. 104
Mobile: (65) 9780 0648
Email: syafia@mmiasia.com.sg

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

SAMURAI 2K Aerosol: Achieving Its Digital Transformation Vision

SINGAPORE, Dec 5, 2022 – (ACN Newswire) – Listed on the Catalist Board of the Singapore Exchange, SAMURAI 2K Aerosol Limited (Stock Symbol: Y8E.SI) is a leading aerosol coating specialist focusing on high performance coating solutions for the automotive refinishing and refurbishing industry. Headquartered in Malaysia, its products are manufactured in the production facility in Johor, and distributed in countries including Malaysia, Indonesia, Thailand, Philippines, Vietnam, Cambodia, United Kingdom, United States of America, Singapore, and India.

Transformation for the Future

Founder and CEO, Ong Yoke En's crystal clear vision for the transformation of the Group is beginning to take shape. The aim is to build a strong digital platform by integrating online and offline business to create an omni-channel experience for its customers. The Group will transform from a product-driven business model to a data-driven service-oriented business model.

On 10 October 2022, SAMURAI 2K was handed the keys to 4 units of 5-storey shophouses for its new corporate office in Johor, Malaysia. This is a total of 20 units of 1700 sq ft each and marks another milestone in SAMURAI's digital transformation focused on innovation through leveraging on AI and data analytics. Digital content creation and technical support staff strength is expected to grow to 150-200 in 3 years.

Operating expenses for the build-up of digital infrastructure is already reflected in 1HFY2023 ended 30 September Financial Statement available on SGXNet at https://links.sgx.com/1.0.0/corporate-announcements/K8EDQT0VA6E8IE01/abcc2506b2fcf5f3d0684b32052a6f39dc827ac20d143367b3336f75857910f0 The Financial Statement shows marketing and distribution expenses increasing by 206% from RM2.36 million in 1HFY2022 to RM7.23 million in 1HFY2023.

Said Samurai 2K spokesperson Leo Aun Foo, "Initially our ecommerce business will focus on the Malaysian and USA markets. Subsequently we will roll out plans for Europe, Australia, Japan, and South America. Each country will require a team of 5-10 staff to handle".

It is with the online multi-country platform that the Group will be able to reap economies of scale, accelerate brand building, provide consumers with multi-media experience, create customer loyalty, and optimize business and product development through powerful data analytics.

Pipeline of Innovations and Inventions

The Group is targeting to launch the first-ever color mix-and-match system ("Tintatek" technology) of aerosol spray paint, which allows users (especially automotive consumers) to custom fill their desired colors into the aerosol can without the use of a complicated tool or equipment. Using Tintatek's color data bank, millions of color combinations can be generated. Users can create original color for themselves or re-create and perfectly match the original factory paint color of the object to be painted. The introduction of Tintatek into DIY spray painting is a revolutionary and disruptive innovation in the aerosol paint industry.

At the same time, the Group is currently building a spray-painting service online platform which matches users with providers of at-your-doorstep spray-painting services. The wide range of colors, textures and special effects (mirror, crystal, metallic, luminous and many more) of SAMUARI 2K paints, the easy-to-use 2-head resin plus hardener, together with Tintatek and matching of users with providers brings DIY spray painting to a new level and a new era. More and more of those who need to spray paint their possessions will now be attracted to DIY spray-painting, bypassing the need to go to a workshop with all its attendant costs and convenience. Together with SAMURAI 2K's multi-media websites, which include education and demonstrations of spray painting designs and techniques, this is expected to exponentially increase the size of the market for the Group's products.

4-Year Financial Performance Track Record

Many companies have bold visions to transform themselves. But whether they can achieve it also depends on the strength of their financials. For that , we need to look at a Company's long-term track record. The Group's 4-year financial performance track record is encouraging and gives confidence that it will be able to realize its transformation for the Future. The financials portray a future-ready but financially prudent company always ensuring that it will be able to ride out any short-term turbulence in the economy.

Table 1 below measures several aspects of Samurai 2K's financials through four years including the period of Covid-19 impact on the regional economies. It is rather rare for a company to exhibit positive numbers on all aspects of its financials.

GROWTH: Revenue
PROFITABILITY: Net Profit, Gross Profit Margin, Net Profit Margin
INVESTMENT MERIT: Return on Equity
LEVERAGE: Net Debt/Equity, Interest Coverage
LIQUIDITY: Current Ratio

Table 1: Stability and Financial Strength. (Samurai 2K FY is 31 March)

Table 1 shows a company that is financially strong, with consistent performance. Gross and Net Profit margins are above average for a consumer product. Debt/Equity has always been Net Cash, Current Ratio has always been above 2, and judging from the Interest Coverage, in the case of Samurai 2K, investors need not worry about the current high interest rate environment.


Samurai 2K's vision is a bold one but its financial performance track record and tangible progress in pursuing its vision are encouraging signs that its transformation for the Future is achievable.

This article is reproduced for international public consumption by Waterbrooks Consultants the investor relations consultant for Samurai 2K Aerosol Limited.

For more information, please visit www.waterbrooks.com.sg

Original article link: https://www.investor-one.com/editorial/22275-SAMURAI-2K-AEROSOL-ACHIEVING-ITS-DIGITAL-TRANSFORMATION-VISION

SAMURAI 2K Aerosol Ltd [SGX: SAMR] [BBG: SAMUR] [RIC: Y8E.SI] http://samurai2kaerosol.com/

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

Startups rapidly emerging from Central Japan – local entrepreneurs explain why

Central Japan, Dec 2, 2022 – (ACN Newswire) – Central Japan, the region in which the new anime-themed park famous for its sci-fi fantasy machines and vehicles debuted earlier last month, is quickly becoming the homeland of startups paving the way towards the future of mobility. Earlier this week, the Japan External Trade Organization (JETRO), together with the Central Japan Startup Ecosystem Consortium, organized a tour to show the media how this lesser-known part of Japan, compared to Tokyo, Osaka or Kyoto, was rapidly giving birth to local entrepreneurs – as the result of education, collaboration, and homegrown determination. The century-old industry and network of suppliers in Aichi, Nagoya and Hamamatsu is also opening up to collaborate with startups from all corners of the world.

1. Education

Yukiko Konishi, vice director of the Startup Promotion Office at Nagoya University, or NU, explained how rival universities in the Central Japan region started to join forces to form the Tokai Network for Global Leading Innovation Platform (Tongali) in 2015. Today, 18 universities stand behind a vision to "cultivate human capital that creates and delivers value leading to the future and enriching people, society, and earth" through entrepreneurship education. In 2020, over 4000 high school students to scholars and graduates participated in Tongali's educational events and programs. As a Tongali co-founder and Startup consortium member, she noted NU was a staple in the outcome of this endeavor. 67 entrepreneurs (as of November 2022) who took flight from NU including Optimind, a Forbes 30 Under 30 Asia 2020, and Acompany, a Forbes 30 Under 30 Japan 2021.

Three NU startups shared their stories. Deep-tech startup Tier IV's chief strategy officer, Ko Miyoshi, explained their world's first open-source software for autonomous driving, which runs on multiple platforms and provides full-stack solutions for the commercialization of intelligent vehicles. Called Autoware, its the equivalent of "Intel inside" for autonomous driving, adopted by over 500 companies across the globe. Toyota's battery-electric shuttle buses and Robo Taxi also partner with TIER IV, while Taiwanese manufacturer Foxconn has agreed to a joint development project for autonomous personal cars with a precondition of Autoware in future EV platforms.

On the Delivery Robot front, we turned the spotlight on Dr. Jude Nwadiuto from Nigeria, a postdoctoral fellow at Nagoya University. Receiving a Ph.D. in autonomous driving and robotics from Nagoya University, the founder and CEO of Fainzy Technologies demonstrated how the warm and cute-looking Mira X and ZiBot models were more seriously gun-ho than meets the eye, going beyond just delivering the payload. Mira X's artificial intelligence (AI) can avoid getting stuck by predicting its path and detecting when food is taken, with a 3D Holographic fan for advertising quality. And ZiBot can make highly accurate decisions from AI-based demand forecast data collected through 360-degree environment sensing.

Another lab-born startup, PotStill's demonstration was a fine blend of technology and psychology. PotStill was established in August 2020 to develop a "driver agent that promotes the improvement of driving behavior", and elemental technology for reducing accidents of elderly drivers based on human interaction research. PotStill director Takahiro Tanaka Ph.D., a designated professor at the Institute of Innovation for Future Society at NU, took participants on a test drive with an adorable 8-inch-tall robot alerting for speeding or stop signs in a relatively narrow residential area.

2. Collaboration

The City of Nagoya's Innovation Department stressed Central Japan's startup ecosystem provides everything a startup needs. On top of the local government's generous support, the region has everything from startup hubs and venture finance to business matching sessions with highly trained workers in many specialized fields, such as mobility. Representatives from Aichi prefecture and Japan's largest incubation hub-to-be, STATION Ai, added that "the region invites entrepreneurs and capitalists from all corners to facilitate state-of-the-art open innovation by infusing new ideas with local craftsmanship." Participants witnessed a few examples:

Home-grown startup SkyDrive's Hiroyuki Murai, chief strategy officer, showed renderings of their new SD-05 two-seater flying car scheduled to fly at the 2025 World EXPO. His team comprises industry specialists from diverse backgrounds, including Bombardier and BAE Systems. But he also stressed that they would not have come this far without the partner ecosystem supporting them in mass production, flight control, charging facilities, parts procurement, leasing, and port architecture.

Koji Ishizuka, senior director of the Electrification Systems Business Group at DENSO, praised Urban Air Mobility (UAM) startups for accelerating technological advances, which would take far longer with larger established enterprises. Ishizuka described how their alliance with Honeywell led them to develop a propulsion solution for German air taxi startup Lilium's All-Electric Jet. DENSO and Honeywell have global project teams in Japan, the EU, and the United States, to expand their Electric Propulsion Unit supply for a growing UAM market demand.

In addition to the collaborative nature of the local business community, Dr. Yoshihiro Takiguchi, president of The Graduate School for the Creation of New Photonics Industries (GPI), described how the city's location, landscape, and climate, made it a microcosm of the nation. "The unique environment, combined with close ties between academia, industry, government, and finance, makes the region a perfect testing ground for startups, regardless of where they are headquartered," added Hamamatsu City officials.

3. Determination

Another recurring theme participants heard throughout the tour was "social purpose." Shunsuke Toya, CEO of ProDrone, explained how a flying mini-truck concept was the answer to their aspiration to solve societal challenges such as aging or inaccessible communities, maritime disasters, and terrorist attacks. Their belief led them to develop a variety of industrial drones specially designed for goods delivery, sea & air integration, long-range heavy-duty, and surveillance. Earlier this year, they partnered with a pharmacy chain to deliver medicines to remote areas of Japan. However, they are determined to go further with a macho-drone that can carry a payload of 50 kilograms over a distance of 50 kilometers.

eve autonomy, founded by Yamaha Motor and TIER IV, is an automated cargo transportation service for factories. Given the shrinking population in Japan, balancing human labor reduction and the safety of the plants is a pressing issue. Business development manager Iwakazu Nishikawa described how their award-winning products outperform conventional AGVs, which had difficulties operating between multiple buildings. Before the joint venture, AGVs, or Automated Guided Vehicles, could neither cope with congested traffic on-premise, maneuver irregularities such as ditches/manholes or slopes nor divert from a fixed guided route.

Director Haruyoshi Toyoda, Hamamatsu Photonics Central Research Laboratory, and his team demonstrated what the microscopic photonic sensing technologies embedded deep inside various daily products do. Autonomous driving would not be without the technology used in high-resolution Light Detection and Ranging (LiDAR). It is a remote sensing technology that measures distance by irradiating laser light on objects and catching the light reflected with a photosensor. Furthermore, the team said, "we are committed to continuously improving the performance of our lasers and sensors because it is a vital ingredient to achieve fully autonomous driving."

Participants also learned that the element of sound (or noise) was an unsung hero in driving safety. The operating officer of Yamaha Corporation, Electronic Devices Division, Nobukazu Toba explained how their longstanding expertise in acoustic research is being applied to Electric Vehicles (EVs) available today. EVs are silent. However, noise helps pedestrians know that a vehicle is approaching. Likewise, an accelerating sound helps drivers recognize speed. He also indicated that the company is in discussions with a Finnish startup to equip cars with warning sound signals (ie. bells and whistles in the driver's seat) coupled with vibrating features to discriminate from which direction the danger originates. "Acoustics and vibration have a lot in common."

Keiko Ihara, a Japanese race car driver, and first female driver to stand on the FIA World Endurance Championship (WEC) podium in 2014, founded Future Inc. two years ago to save her hometown's economy from deteriorating because of the pandemic. The series of carbon-neutral, maximum efficiency, lightweight e-bikes she designed takes many of its cues from racing cars. But her ultimate goal is to create a mobility-sharing service connected to a regional online portal of e-commerce, delivery, clinics, internet banking, and govt services. The grand vision of this new business model will not only revive local resorts and tourist spots, as she initially sought, but may even transform petrol stations into evolving community centers where people come together.

"The funds raised by startups in Japan are small compared to other parts of the world," noted Ihara in her talk. However, she cited Prime Minister Kishida positioning 2022 as the first year for actively fostering the founding of startups. "I believe clusters and pockets of communities all over Japan will start to connect to form an even bigger network of ecosystems. Because," she humbly added, "there is only so much you can do alone."

About the Central Japan Startup Ecosystem

There are 371 startups in Central Japan, of which 150 are university-launched. An estimated 18.615 billion yen (as of July 2022) of funds have been raised, in addition to accelerator programs, financial support systems, and innovative university seeds. Collaborative partnerships with Station F, INSEAD, BLOCK71, Paris&Co, Bpifrance, Venture Cafe, Plug and Play, Israel Innovation Authority, Tsinghua University, China Medical University, National University of Singapore, The University of Texas at Austin, Stanford University, North Carolina State University, University of Nebraska and the Indian Institute of Technology Hyderabad attract a diverse range of entrepreneurs to the region. For more information, please visit https://central-startup.jp/en.

Scheduled to open in 2024, STATION Ai will be a world-first, top-notch global innovation center. The center will provide a one-stop, one-loop link to world-class startup support programs through liaison with leading-edge startup support bodies and universities. Please visit https://www.aichi-startup.jp/english/support/.

About the Central Japan region

In July 2020, Aichi prefecture, the City of Nagoya, and Hamamatsu City of Shizuoka became one of the four regional Startup Ecosystem Global Base Cities groups designated nationwide by the cabinet office. The GDP of this region is 44,093.2 billion yen (as of 2019), mainly attributed to key industries such as Automotive, Aerospace, Machine Tools, Production Machinery, Iron and Steel, Musical Instruments, and Photonics/Electronics. The region's mission is to positively impact society by bringing the future of mobility to our doorsteps as soon as possible. The 6,731 km2 area is currently home to 8.29 million people, out of which over 300 thousand are foreign nationals – and will be a home-from-home for entrepreneurs and startups who share the same will and passion. In addition, various chill-out activities such as surfing, hiking, camping, paragliding, and ski/snowboarding are easily accessible. At the same time, seasonal marathon events and Formula One races are also hosted in adjacent cities. Furthermore, the American Chamber of Commerce, Tokai Japan Canada Society, Chubu Walkathon & International Charity Festival, and Nagoya Vegan Gourmet Festival are opportunities to meet like-minded locals.

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

Yew Lee Posts RM6.1 Million Revenue in 3Q

KUALA LUMPUR, Nov 30, 2022 – (ACN Newswire) – Yew Lee Pacific Group Berhad, a manufacturer of industrial brushes as well as trading of industrial hardware and machinery parts, today announced that the Group recorded revenue of RM6.10 million for the third quarter ended 30 September 2022 (3Q FY2022).

Managing Director of Yew Lee, Mr. Ang Lee Leong

There are no comparisons on a year-over-year basis as the Group was listed on the ACE Market of Bursa Malaysia Securities Berhad on 7 June 2022.

For the quarter under review, Yew Lee reported gross profit of RM2.12 million while registering profit before tax (PBT) of RM0.96 million and profit after tax of RM0.76 million. For the nine-month period ended 30 September 2022 (9M 2022), the Group registered RM24.35 million in revenue while recording a profit before tax of RM0.39 million and a loss after tax of RM0.41 million.

Manufacturing activities contributed RM3.84 million to total revenue while trading activities contributed RM2.27 million in 3Q FY2022.

Managing Director of Yew Lee, Mr. Ang Lee Leong said, "We continue to sustain and generate profit from our operations. It is worth noting that stripping the one-off listing expenses of RM2.70 million, the Group would have reported a 9M 2022 PBT of RM3.0 million.

"The Group's immediate plans is to reduce its dependency on the rubber glove industry by seeking opportunities in the semiconductor, timber, glass and agriculture industries. We are encouraged by the political stability from the appointment of a new Prime Minister, and we hope that the new government will be supportive of the economy with sound policies and measures."

"Besides diversifying our customer base, which will take time, the Group is also improving its manufacturing efficiency and automating manufacturing processes by acquiring additional automated machinery and equipment to support the long-term growth of the business. We are also expanding the trading of industrial hardware and machinery parts especially in the central and southern regions of Peninsular Malaysia and, expanding to more markets overseas."

The Group's overseas markets include Thailand, Vietnam, Indonesia and Taiwan, which contributed about a quarter to total revenue in the financial year ended 31 December 2021.

Yew Lee Pacific Group Bhd: 0248 [BURSA: YEWLEE], https://yewlee.com.my/

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

Genetec’s Q2FY2023 Performance Remains on Track

BANGI, Malaysia, Nov 29, 2022 – (ACN Newswire) – Technology leader in providing fully customised, intelligent manufacturing automation solutions, Genetec Technology Berhad announced their quarterly performance to date for their second financial quarter for the financial year ended 31 March 2023 (Q2FY2023). The Company recorded a surge in its profit after tax (PAT) of RM25.7 million representing a 57.7% jump compared to RM16.3 million registered for the corresponding quarter of the preceding year due to higher revenue and managed cost.

Genetec registered RM28.0 million in profit before tax (PBT) for the quarter under review, which is 59.1% higher than the PBT of RM17.6 million recorded for Q2FY2022 while revenue of RM70.7 million is 19.2% higher than the RM59.3 million posted in Q2FY2022. Earnings per share stood at 3.59 sen (fully diluted) in the same quarter compared to EPS of 2.33 sen in the corresponding quarter.

Genetec highlighted, "On the macro level, 2022 continues to be an exciting year. We have been building on our momentum and diversifying our portfolio in electric vehicle (EV) and energy storage segments. These efforts are yielding results which will come through in the coming quarters. All segments in our portfolio continue to grow with segment contributions remaining consistent with the preceding quarter. Genetec remains focused to build on and deepen our share-of-wallet with existing clients. Efficiency, quality and flexibility continue to be key whilst we actively participate in new bids to expand our client list. With the additional 100,000 square feet (sf) floor space, we are adding capacity to cater to our growing pipeline."

Their recent exclusive collaboration with diversified infrastructure and energy conglomerate, Citaglobal Berhad will see Genetec supplying end-to-end battery energy storage management systems (BESS) solutions to designated project sites in different states across Malaysia over a multi-year period. The Company's role covers research and development, design and build and on-site installation and maintenance.

"Looking ahead, the world's efforts to halve its carbon footprint by 2030 and achieve its net zero carbon target by 2050 will drive energy convergence and investments in renewable energy (RE) technology. New energy storage capacity is expected to be added globally between 2022 and 2030 as companies and countries transition towards clean or RE. Expectations are for RE to provide 65% of the world's total electricity supply by 2030, with a massive 90% decarbonisation of the power sector by 2050[1]. By the end of the decade, United States and China are expected to continue to be the two biggest markets, accounting for more than half of all RE storage installations worldwide[2]. On the EV sector, we will continue to expand our performance and increase our capacity to achieve new heights", highlighted Genetec.

About Genetec Technology Berhad

Genetec Technology Berhad is a technology leader in providing customised full turnkey smart factory automation manufacturing lines. It is a public company listed on the ACE Market of Bursa Malaysia Securities Berhad (Stock code: 0104) since 2005. Its principal business focus is in the provision of high-quality, responsive and cost-effective designs, as well as the manufacturing of automated industrial systems, equipment and value-added services for our global customers in the Electric Vehicle (EV), Automotive, Hard Disk Drive (HDD), Consumer Goods and Healthcare sectors. For more information on Genetec, please visit www.genetec.net.

[1] Source: Energy Outlook 2023, United Nations https://www.un.org/en/climatechange/raising-ambition/renewable-energy
[2] Source: Global Energy Storage Market to Grow 15-Fold by 2030. https://tinyurl.com/mw6tzuk6

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

Minetech Records 32% Increase in Revenue for 2Q

KUALA LUMPUR, Nov 24, 2022 – (ACN Newswire) – Civil engineering specialist and bituminous products manufacturer Minetech Resources Berhad today reported that the Company recorded a 31.9% rise in revenue to RM26.9 million for the second quarter ended 30 September 2022 (2Q FY2023) compared with RM20.4 million in the corresponding quarter of the last financial year (2Q FY2022).

Matt Chin, Executive Director of Minetech

The Company registered a loss before tax (LBT) of RM1.5 million for the quarter under review compared with LBT of RM4.7 million in 2Q FY2022.

On a segmental basis, the civil engineering division recorded a 8.1% rise in revenue to RM16.1 million in 2Q FY2023 compared with RM14.9 million in 2Q FY2022. The manufacturing division, which produces bituminous products for pipe coating, waterproofing and sealing, posted a 166.7% increase in revenue to RM7.2 million compared with RM2.7 million in the same quarter of the previous financial year.

For the first-half of the financial year ended 30 September 2023 (1H FY2023), Minetech registered a 36.9% increase in revenue to RM50.9 million compared with RM37.2 million in 1H FY2022. The Company recorded LBT of RM3.1 million in the period under review compared with RM9.1 million in 1H FY2022.

Matt Chin, Executive Director of Minetech, said, "We continue to see our financial performance improve with narrower losses on higher revenue contribution from the civil engineering division's Selinsing Gold Mine due to increase in work volume as well as from the Cheras-Kajang Highway, Wangsa Brezza Hill and GM Emerald Square."

"We have seen a significant increase in revenue contribution from the manufacturing division mainly due to the rise in sales of coating enamel and blown asphalt products as a result of improved demand from both domestic and overseas markets."

"While economic growth is on a stronger footing based on Malaysia's third-quarter GDP figures, we note the increased risks of a slowdown in 2023 as global uncertainties stemming from the Russia-Ukraine conflict, China's slowdown and inflationary pressure continue to weigh on sentiments. We continue to emphasise various cost-control measures and cash conservation and at the same time exploring opportunities that have seen us venturing into technology and innovation and penetrating into second-tier construction activities. These initiatives have helped us weather the storm and continue to create value for shareholders and other stakeholders."

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

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

Yew Lee Proposes Bonus Warrants and ESOS

IPOH, Malaysia, Oct 25, 2022 – (ACN Newswire) – Yew Lee Pacific Group Berhad (Bursa: YEWLEE, 0248), an established manufacturer principally involved in the manufacturing of industrial brushes as well as trading of industrial hardware and machinery parts, today proposed to undertake a bonus issue of warrants and the establishment of an employees' share option scheme (ESOS) to reward existing shareholders as well as recognise contribution of eligible employees.

Mr. Ang Lee Leong, Managing Director of Yew Lee

The proposed bonus issue of warrants will involve 1 warrant for every 2 existing ordinary shares in Yew Lee held by the entitled shareholders or the issuance of 266,217,800 warrants based on the total issued share capital of Yew Lee of RM67,530,363 comprising 532,435,600 ordinary shares as at the latest practicable date (LPD) of 3 October 2022.

The proposed ESOS to be issued will not exceed 30.0% of the total number of issued shares for eligible employees and directors of Yew Lee and its subsidiaries.

Mr. Ang Lee Leong, Managing Director of Yew Lee, said, "We want to reward existing shareholders for their support by enabling them to participate in warrants that come at no cost to them, and which are tradeable on the ACE Market of Bursa Securities Malaysia Berhad. It also allows them to increase their equity participation in the Company's shares at a pre-determined exercise price over the tenure of the warrants and, benefit from any potential capital appreciation of the warrants."

"The proposed ESOS is to recognise the contribution of eligible employees and at the same time, is part of the Company's plan to develop and expand our human capital. The ESOS will allow us to align the long-term interests of eligible employees with those of shareholders to help achieve Yew Lee's business objectives."

M&A Securities and Eco Asia Capital Advisory Sdn Bhd have been appointed as the principal adviser and financial adviser, respectively to the Company in relation to the proposals, which are expected to be completed by the first quarter of 2023.

Yew Lee Pacific Group Bhd: 0248 [BURSA: YEWLEE], https://yewlee.com.my/

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

SKYX Secures 10-Year Roof Rights for Signage on One of The Tallest Buildings in Miami

MIAMI, FL, Sep 29, 2022 – (ACN Newswire) – SKYX Platforms Corp. (NASDAQ:SKYX) (d/b/a "Sky Technologies") ("SKYX," "we" or "the Company"), a highly disruptive platform technology company with over 60 issued and pending patents globally for simplifying and enhancing safety and automation in homes and buildings, today announced that it secured a 10-year roof right lease for signage on one of the tallest buildings in downtown Miami, across the street from the Miami Heat FTX Arena and Biscayne Bay.

The new building is located on 400 Biscayne Blvd (US-1) and will include office space, residential as well as a high-end modern hotel. The downtown Miami area is both a U.S. and international hub for world leading companies – with the SKYX rooftop signage expected to be seen by tens of millions, including on TV shows and on Miami skyline imagery.

As part of the lease, SKYX has also secured a high-end, state of the art, high ceiling office space with 360-degree views and expects to open its U.S. and international sales offices, as well as its corporate headquarters, in the new location in 2023. As part of the agreement, the Company can start paying rent in January 2024. In addition, the Landlord will provide the Company with an improvement allowance of up to $2.25 million, which may be used for the construction of the Premises, including the reasonable cost of design, space planning, consultants, and construction drawings. The Company intends to use part of the office space and to sublease the remainder to minimize expenses.

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: "Securing a long-term lease for SKYX signage and offices in the heart of downtown Miami provides an incredible level of brand awareness for SKYX. As reported, FTX paid $135 million to secure a long-term lease for naming of our next-door neighbor's building, the Miami Heat Arena, now called FTX arena – and that speaks for itself.

"As we position ourselves to embark on our commercialization journey, this provides a significant foundation for our company on many levels. I look forward to moving into this exciting new space and elevating our public profile through continued operational execution, with the objective of creating sustainable, long-term value for our shareholders," concluded Kohen.

To view images of the new office location, click here: https://skyplug.com/pr7/

To learn more about SKYX's technology, access the explainer video link here: SkyXPlug.com/video

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the standard.

SKYX Platforms Corp. (NASDAQ: SKYX) has a series of highly disruptive advanced-safe-smart platform technologies, with over 60 U.S. and global patents and patent pending applications. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com or follow us on LinkedIn.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management's control. These statements involve risks and uncertainties that may cause the Company's actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Our estimates of the addressable market for our products may prove to be incorrect. The projected demand for our products could materially differ from actual demand. Forward-looking statements speak only as of the date they are made and include statements relating to the Company's ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement of presales, the Company's efforts and ability to drive the adoption of Sky's Plug Smart Platforms into multi-family residential buildings and communities and adoption by hotels, ability to capture market share, ability to execute on any sales and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, and other risks and uncertainties described in the Company's filings with the Securities and Exchange Commission. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

For the terms of the lease, see the Company's current report on Form 8-K filed with the Securities and Exchange Commission on September 29, 2022. Under the terms of the lease, the Company does not expect to pay any rent for the first fourteen months of the lease, taking into account a six month build out period (which may be extended for up to four months), and four additional months of rent abatement after the rent commencement date. The Company may extend the build out period for four one month periods, provided that for each one month extension exercised, the annual base rent will increase by $1.00 per square foot. The signage is subject to obtaining necessary permits. The images included in this press release are for demonstration purposes only and are not necessarily representative of any signage expected to be installed.

Investor Relations Contact:
Lucas A. Zimmerman
MZ North America
(949) 259-4987

SOURCE: SKYX Platforms Corp. dba Sky Technologies

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

Genetec’s Quarterly Performance Jumps by 126%

BANGI, Malaysia, Aug 29, 2022 – (ACN Newswire) – Technology leader in providing fully customised, intelligent manufacturing automation solutions, Genetec Technology Berhad continued its performance momentum into the new financial year, recording a surge in profit after tax (PAT) of RM18.6 million representing a 126.8% jump compared to RM8.2 million registered for the corresponding quarter of the preceding financial year (Q1FY2022).

Genetec's recorded a profit before tax (PBT) of RM19.4 million higher by 31.1% compared to RM14.8 million posted in the preceding quarter of 2022 (Q4FY2022), contributed by higher revenue from the e-mobility, electric vehicle (EV) & energy storage (RM60.9 million up 25.8%) and hard disk drive (HDD) segments (RM12.2 million up 20.8%) respectively.

PAT was boosted on the back of strong revenue growth momentum for the quarter at RM73.2 million, an increase of 81.6% from RM40.3 million for the corresponding quarter (QoQ) and up 24.7% from RM58.7 million for the preceding quarter (Q4FY2022). Earnings per share stood at 2.68 sen (fully diluted) in Q1FY2023 compared to 1.18 sen QoQ. Gearing ratio dropped from 0.41 to 0.34 times from the preceding quarter, whilst cash and cash equivalents remains healthy, providing the Company with stretch room to execute its growth activities and plans ahead of the fresh orders and industry demand growth.

Genetec commented, "The momentum in the EV and energy storage continues to grow, driven by consumer demand and supportive policies as the world pivots towards renewables in the race to combat climate change. Global sales of EV have doubled up in 2021. The total number of EVs have grown steadily in 2022, with with 2 million sold in the first quarter, up 75% from the same period in 2021[1]. This shift to electric heralds the beginning of a new ecosystem which Genetec is part of. In addition to vehicles, countries and companies will need to roll out the charging and servicing ecosystem to support this new generation of transport vehicles. In tandem with global digitalisation, the needs for the building blocks such as energy and data storage will continue to rise. This is where Genetec is strong and we will continue to improve on our offerings through research and development whilst deepening our share of market in the e-mobility, energy storage and HDD segments. Meanwhile, we remain vigilant of the macroeconomic headwinds and supply chain challenges and will continue to adopt a prudent stance in our cost and financial management."

Genetec's also highlighted that its land acquisition from Utusan Melayu (Malaysia) Berhad (UMMB) in Bandar Baru Bangi, comprising a parcel of land of 6.348 hectares or 683,293 square feet (sq ft) and the buildings within the said area, is on track with the targeted completion set for the second quarter ended 30 September 2023 (Q2FY2024) and will focus their attention on deepening their business relationships with clients and suppliers, talent building and retention ahead heightened competition and macro headwinds globally.

[1] Source: Global EV Outlook 2022 https://tinyurl.com/GlobalElectricVehicle-Outlook

About Genetec Technology Berhad

Genetec Technology Berhad ('Genetec' or 'the Group') is a technology leader in providing customised full turnkey smart factory automation manufacturing lines. It is a public company listed on the ACE Market of Bursa Malaysia Securities Berhad (Stock code: 0104) since 2005. Its principal business focus is in the provision of high-quality, responsive and cost-effective designs, as well as the manufacturing of automated industrial systems, equipment and value-added services for our global customers in the Electric Vehicle (EV), Automotive, Hard Disk Drive (HDD), Consumer Goods and Healthcare sectors. For more information on Genetec, please visit www.genetec.net.

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