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
SKYX@mzgroup.us

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

SKYX Platforms to Introduce its Upcoming Gen-1 Game-Changing Platform Technology Video Demo

MIAMI, FL, Aug 25, 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 the introduction of a demo video of its Gen-1 game-changing ceiling platform technology, the specifications of which just received a historical approval vote by ANSI / NEMA, the leading U.S. standardization organizations for homes, buildings and the electrical industry.

Hundreds of millions of lengthy installations of light fixtures take place, all while people risk their lives by touching hazardous electrical wires while standing on ladders. These risks result in millions of hazardous incidents including shorts, fires, falls from ladders, electrocutions, injuries and death. These hazardous incidents can be greatly reduced or even eliminated by using the SKYX plug and play ceiling outlet receptacle. The SKYX technology simplifies the installation process while significantly reducing both time and cost, as well as substantially reducing hazardous incidents, injuries, and death.

The specifications of the new SKYX safe weight-supporting plug & play ceiling outlet/receptacle were approved by the U.S. leading home and building standardization organizations, the American National Standards Institute ("ANSI") and the National Electrical Manufacturers Association ("NEMA"). Below is the video demo link of SKYX's Gen-1 product including the ANSI / NEMA approved safe plug & play ceiling outlet/receptacle.

Video Link: http://skyxplug.com/video

Steve Schmidt, former CEO of Nielsen Corporation and former President of Office Depot International and current President of SKYX Platforms, said: "We are extremely proud to introduce our Gen-1 smart and safe technology platform towards our upcoming product launch. We strongly believe that the simplicity of our technology, as well as its safety aspects, will revolutionize the lighting and ceiling fan industries by enabling people to install fixtures safer, faster, and more often."

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: "Introducing our Gen-1 video demo is an important step in our market education process as it will demonstrate how safe, simple, cost and time saving our solution is. It's about time that people stop risking their lives while installing light fixtures and ceiling fans. The significant advantages of our smart plug & play Gen-1 technology will enhance innovation as well as fixture replacement."

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://skyxplug.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. In particular, the American National Standards Institute's (ANSI) and the National Electrical Manufacturers Association's (NEMA) vote for the standardization of the Company's weight-bearing plug and outlet/receptacle for ceilings does not guarantee approval by the National Fire Protection Association's (NFPA) Committee on the National Electrical Code (which consists of multiple code-making panels and a technical correlating committee and develops the National Electrical Code (NEC)) or any other trade or regulatory organization and does not guarantee that any of the Company's products will become National Electrical Code (NEC)-code mandatory in any jurisdiction, or that any of the Company's current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all. There can be no assurance as to any of these matters. 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.

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

SOURCE: SKYX Platforms Corp. dba Sky Technologies

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

Minetech’s Revenue for 1Q Rises 43.0% to RM24 Million

KUALA LUMPUR, Aug 25, 2022 – (ACN Newswire) – Minetech Resources Berhad, a civil engineering specialist and bituminous products manufacturer, today announced that the Company registered a 43.2% rise in revenue for the first quarter ended 30 June 2022 (1Q FY2023) to RM24.05 million compared with RM16.80 million in the corresponding quarter of the last financial year (1Q FY2022).

Matt Chin, Executive Director of Minetech

For the quarter under review, the Company recorded a loss before tax (LBT) of RM1.66 million compared with LBT of RM4.35 million in 1Q FY2022.

On a segmental basis, Minetech's civil engineering division posted revenue contribution of RM13.7 million for 1Q FY2023, a gain of 34.3% compared with RM10.2 million in 1Q FY2022. The manufacturing division, which produces bituminous products for pipe coating, waterproofing and sealing, recorded revenue contribution of RM5.85 million, a gain of 75.1% compared with RM3.34 million in 1Q FY2022.

Matt Chin, Executive Director of Minetech, said, "The civil engineering division's contribution was supported by higher revenue from the Selinsing Gold Mine in the quarter under review compared to the corresponding quarter of the previous financial year as production regained traction while the manufacturing division saw a significant rise in revenue due to an increase in sales as a result of improved demand from water piping and road paving projects."

"Recent news flow point to firmer domestic economic growth and the announcement of the MRT3 project together with the continuation of other large civil infrastructure projects is positive for the construction sector as there will be need for civil engineering services as well as bituminous products."

"We will continue to be vigilant given the more challenging global economic outlook. We have rationalised our corporate structure and in recent years diversified into other businesses to enhance our financial performance while ensuring more stable recurring income. Our narrower losses for the quarter are a result of these measures."

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

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

SKYX Achieves Historic U.S. Standardization Approval Vote – a Major Milestone Towards Mandatory Status for Safety of Consumers and Professionals

MIAMI, FL, Aug 9, 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 its universal safe installation specifications for plug & play ceiling outlet for lighting and fan products has been officially voted on and approved by ANSI/NEMA, the leading U.S. standardization organizations for the standardization of the SKYX safe weight-bearing plug and outlet/receptacle for ceilings ("SkyPlug").

The American National Standards Institute ("ANSI") is the leading U.S. standards approval organization, whose standards are regularly specified by most architects and engineers for U.S. residential and commercial buildings to ensure safety, quality and reliability. The National Electrical Manufacturers Association ("NEMA") is a standards-developing organization that promotes the standardization of major U.S. electrical products for manufacturers. The achievement of an ANSI / NEMA vote approval is a lengthy and rigorous process, widely considered to be very difficult to achieve. Examples of other products that are standardized include the wall outlet, GFCI bathroom outlet and other key products that are included in every home in the U.S.

The standardization of the SKYX plug & play weight-bearing plug and outlet/receptacle for ceilings by ANSI/NEMA will universally provide SKYX's product specifications to manufacturers to help save lives, time and money for both professionals and consumers, enabling them to install light fixtures and ceiling fans with a safe plug & play installation in just minutes, if not seconds.

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: "This standardization approval vote opens the door to major sales and licensing opportunities, as well as a milestone achievement not only for SKYX, but for consumers and professionals across the nation. In today's world, I believe that consumers and professionals shouldn't have to risk their lives standing on ladders for a long time, while touching hazardous wires to install light fixtures and ceiling fans. Additionally, this is a significant development for lighting and fan companies as well as showrooms. It not only saves their customers both time and money, but enables them to safely and quickly replace light fixtures and ceiling fans, and purchase fixtures much more often for a variety of reasons – be that to match fashion trends, accommodate the changing of seasons, holidays and more."

Mark Earley, former Chief Electrical Engineer at NFPA, former head of the NEC and current Chair of the SKYX Safety Advisory Board, said: "This is a significant achievement for SKYX and the safety of U.S. consumers and professionals. With hundreds of millions of installations taking place in the U.S., there are many risks associated with installing or replacing light fixtures and ceiling fans. These risks include injuries and deaths from fires, shocks, electrocutions, and falls from ladders. These risks can be reduced by using the SKYX safe plug and play installation method, that also saves installation time, which substantially reduces time spent on ladders."

Bernard Zyscovich, a leading U.S. architect, internationally recognized design and thought leader, and Chair of the SKYX Architectural & Real Estate Advisory Board, said: "Having the ANSI/NEMA approval vote to include a design of a product is on top of the list for architects and engineers and a substantial deciding factor determining builders' product acceptance. As it reflects product integrity, quality and most important, safety. This achievement by SKYX's ceiling outlet receptacle and plug is ground-breaking."

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. In particular, the American National Standards Institute's (ANSI) and the National Electrical Manufacturers Association's (NEMA) vote for the standardization of the Company's weight-bearing plug and outlet/receptacle for ceilings does not guarantee approval by the National Fire Protection Association's (NFPA) Committee on the National Electrical Code (which consists of multiple code-making panels and a technical correlating committee and develops the National Electrical Code (NEC)) or any other trade or regulatory organization and does not guarantee that any of the Company's products will become National Electrical Code (NEC)-code mandatory in any jurisdiction, or that any of the Company's current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all. There can be no assurance as to any of these matters. 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.

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

SOURCE: SQL Technologies, Inc. dba Sky Technologies

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

Taiwanese Companies Flock to ASEAN for Growth

Singapore, Jul 25, 2022 – (ACN Newswire) – In the last 6 years, the New Southbound Policy has played an integral role in enabling Taiwanese enterprises to diversify and capture opportunities in one of the fastest growing regions in the world, ASEAN. During the period of January to October 2021, Taiwan invested US$5.3 billion in the ASEAN region, which amounted to 38.7% of the country's total overseas investments, the highest proportion in 20 years.

In ASEAN, current trends reflect a shift towards customer-driven hyper-personalisation, as well as data-enabled optimisation. Considering the increasing focus on the ASEAN market, growth of Taiwanese enterprises are aligned with these regional trends.

Customer-driven Innovation

ASEAN consumer patterns have shifted in the last few years and enterprises have adapted to meet changing customer needs in the area of health, security and mobility.

Amidst the global pandemic, health has been growing to be a central focus for consumers, with 85% expressing concern over health, according to an Asia-Pacific 2021 survey by Ernst & Young. This has contributed to an increased health and wellness expenditure in Southeast Asia. In the emergence of this trend, ible Technology Inc. has come up with a wearable air purifier to provide purified air surroundings for consumers as they go about their daily lives. This solution adopts ible's unique Breathing Pathway Eco Ion Technology, and this technology will produce over 20 million negative ions (around 100 times more ions than a forest produces) surrounding user's face to remove pollutants from the air, including viruses and other airborne particles.

The recent cyberattack and data breach incidents have put personal data protection and security concerns under the spotlight. This topic has never been more relevant in the age of rapid technology adoption and data-driven organisations, with 83% of ASEAN-based organisations being highlighted as data-driven in the AIBP ASEAN Enterprise Innovation Survey 2021/22. In recognition of this, Maktar offers a smart backup solution with an integrated microSD lock encryption feature that prioritises customer data security.

The establishment of the ASEAN Smart Cities Network has provided a collaborative platform where cities from the ten ASEAN Member States can work towards the common goal of smart and sustainable urban development. With advancing smart city initiatives, smart mobility is gaining traction as consumers look towards convenient and user-centric transportation services. Leveraging on IoT, IBASE designed an embedded computing platform for a smart parking metre that provides efficient parking management services such as occupancy detection and online payment, enabling customer mobility needs to be met.

Accelerating Business Outcomes with Frontier Technologies

According to AIBP ASEAN Enterprise Innovation Survey 2021/22, 62.8% of enterprises in ASEAN perceive business intelligence platforms that help make sense of data as the digital transformation investment that will drive the largest benefits to their organisation. Galaxy Software Services (GSS) is one of the major players in this space. In helping Perfirmtex International Co.,Ltd to improve their customer data management process, GSS built a CRM that enabled efficient lateral communication with key stakeholders like customers and partners, boosting customer satisfaction. This was guided by their Insight to Action Model where predictive analytics assists in deriving customer behaviour insights from data and following that, insights are used to optimise customer engagement efforts.

Digitalisation and automation of operations was found to be the top digital transformation focus of ASEAN organisations from a 2021 AIBP survey. In line with this, various enterprises have created tech-enabled solutions to facilitate process optimisation. An AI Edge Server by AAEON supported the smart manufacturing process of a machine manufacturer in the semiconductor industry. Accounting for end user needs, AAEON designed products that were compact and dissipated heat easily.

About AIBP

AIBP serves as an avenue for public and private organisations in Southeast Asia to access and exchange information about growth and innovation within the B2B space. With a current network of over 30,000 stakeholders in Southeast Asia, AIBP continues to develop ecosystems by engaging in activities which create value-adding information for our stakeholders seeking to make transformative impacts within their organisations. For additional information about AIBP, please visit https://iotbusiness-platform.com/.

About Taiwan Excellence Awards

AAEON, IBASE, Galaxy Software Services, ible Technology, and Maktar were recently recognized by the Taiwan Excellence Awards. These awards have been established by the country's Ministry of Economic Affairs since 1993 to celebrate how technological innovation helps people live more rewarding lives. Each year, the Taiwan Excellence Awards select the most innovative products in Taiwan across four major categories: R&D, design, quality, and marketing. As well as recognizing domestic achievement, the awards serve as a benchmark for innovation and excellence in international markets.

Contact:
Mr. Irza Fauzan Suprapto
Email: irza@industry-platform.com
Phone: (+65) 9759 5343

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

AIBP: How Technology Contributes to Economical Gaps in Southeast Asia

Singapore, Jul 13, 2022 – (ACN Newswire) – Nearly half of ASEAN based respondents perceived legacy IT infrastructure and systems to be a challenge to digital transformation (DX) and innovation projects within their own company, according to a survey conducted by AIBP in 2021. The survey counted 206 professionals in the public services sector across the largest economies in Southeast Asia: Indonesia, Malaysia, Thailand, Philippines & Vietnam. The same survey showed that 60.6% of respondents believe that business intelligence software is the DX solution that brings the largest benefits to their organisation.

Sustainability has also been a growing focus in ASEAN, illustrated by the sustainable mobility and energy targets of ASEAN. The Phnom Penh Declaration on Sustainable Urban Mobility is the first Declaration on sustainable transport issued by the ASEAN Transport Ministers focusing on urban and metropolitan regional mobility. The ASEAN Plan of Action for Energy Cooperation demonstrates the region's commitment to achieving the targets on renewable energy share 23% in total primary energy supply, as well as the 35% share in installed power capacity by 2025. The need for education is underlined as well from a 2021 AIBP survey, where the lack of talent and expertise was ranked as the most significant impediment to digital transformation in ASEAN. In advancing these public interests, tech-powered innovation has and will continue to be key.

Tech-powered innovation has continued to be key in advancing public interests such as mobility, sustainable energy and education.

Taiwanese Companies Contributing to ASEAN Societies

Mobility:
With transport mobility being integral to driving economic and social growth, importance is placed on developing innovations in this area and several companies have stepped up to take the lead. PLANET Technology Corporation has solved key issues pervading public transport networks with their Industrial LoRaWAN Wireless Gateway solution. It facilitates data transmission over long-range distances at low power consumption across urban and rural areas, and supports real-time data collection, enabling vehicle detection and location tracking. This contributed to smart parking solutions and allowed commuters to easily check bus timings, improving the overall public transport system.

Up-and-coming alternative mobility solutions are getting increased attention as well. Advancements made in vehicle electrification have contributed to the lowering cost of electric vehicles (EV). Coupled with an increasing focus on sustainability in ASEAN, EV adoption and the development of an EV ecosystem are growing. Zealio is one of the key players in the EV interior space. Guided by a user-centric approach, Zealio sought to develop EV components that are easy to install, have zero-interference with other vehicle electronics, are energy efficient and recyclable.

Sustainable Energy:
Environmental concerns are increasing in ASEAN. Stakeholders in the energy industry are seeking to pivot to a green energy approach and Advantech is at the forefront of this change. Advantech has observed that power plant and grid owners are most concerned about data accuracy, operational efficiency and asset management. To address these needs, the company has developed a smart energy management solution that includes pre-built related analytics. In helping Singapore's National Water Agency (PUB) with the monitoring and tracking of their Floating Solar PV System, Advantech partnered with Mirai Electronics to build an IoT framework that gathers critical equipment and environmental data that is sent to the cloud, various dashboard views including green parameters to facilitate data analytics and visualisation, and a system that enables proactive monitoring and response to tough environmental conditions.

Need for Skill Development through Tech-Enabled Education:
A 2021 survey conducted by AIBP showed that 39.4% of public services stakeholders believe people are the principal challenge to becoming data driven. As technology continues to play a key role in innovation efforts, workforce skill levels need to keep up and education is integral to nurturing that talent. Enterprises have recognised this need and are providing tech-enhanced solutions to complement traditional educational methods.

In pursuit of closing the gap, one successful project was delivered by CYP's Pro AV solutions. CYP integrated their AV solutions together with learning tools such as document cameras, interactive white boards and audio visual devices providing a solution for Vietnam National University, Hanoi (VNU)'s remote learning programmes. This has enabled the concept of smart classroom, which aims to deliver high-quality classes during distance learning and video conferencing, and let teachers engage both in-class and remote students.

Another technology provider, IPEVO, has also demonstrated strong commitment to provide real-time image capture document cameras to DIGI@Education, driving student engagement in a hybrid setting. On top of education, IPEVO is able to support corporate trainings, legal and healthcare sectors.

About AIBP

AIBP serves as an avenue for public and private organisations in Southeast Asia to access and exchange information about growth and innovation within the B2B space. With a current network of over 30,000 stakeholders in Southeast Asia, AIBP continues to develop ecosystems by engaging in activities which create value-adding information for our stakeholders seeking to make transformative impacts within their organisations. For additional information about AIBP, please visit https://iotbusiness-platform.com/.

About Taiwan Excellence Awards

Advantech, Cypress, IPEVO, PLANET, and Zealio were recently recognized by the Taiwan Excellence Awards. These awards have been established by the country's Ministry of Economic Affairs since 1993 to celebrate how technological innovation helps people live more rewarding lives. Each year, the Taiwan Excellence Awards select the most innovative products in Taiwan across four major categories: R&D, design, quality, and marketing. As well as recognizing domestic achievement, the awards serve as a benchmark for innovation and excellence in international markets. Please visit https://www.taiwanexcellence.org/en for more information.

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