HONG KONG, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - Ching Lee Holdings Limited (“Ching Lee” or “The Group”, stock code 3728.HK) announced its 2024 Interim Results on Monday, showing impressive performance. Net profits increased by approximately 10% to HK$3.8million compared to the same period last year. Total revenue surged by approximately 29% year-on-year, and profit before tax rose by approximately 11%.For the six months ended 30 September 2024, the profit of the Group was mainly attributable to the revenue growth due to most construction projects progressing smoothly to the middle and final stages in the first half of the year, enabling the Group to successfully collect payments for several projects. The Group continues to achieve earnings growth and protect shareholders’ interests, with basic earnings per share for the six months ended 30 September 2024 being 0.37 HK cents, compared to 0.34 HK cents per share for the six months ended 30 September 2023.The Group has solid financial strength to capture various business opportunities with potential construction projects from our current customer networks. As a main contractor in the private sector in Hong Kong, we focus on our core business while actively seeking opportunities in the public sector for further business development.The Group Chairman, Mr. Ng Choi Wah stated, “With interest rates on the decline, we expect the Hong Kong property market to gradually recover. We have great confidence in the economic outlook and the prospects of the construction industry in Hong Kong. The Group will continue to focus on its core business, delivering high-quality services for both private and public construction projects in Hong Kong, while actively exploring new business opportunities. Our management remains dedicated to increasing our influence within the industry and providing favourable returns for our shareholders.”Media enquiries:New Smile Limited Strategic IR & PR Consultancy Tel: +852 2126 7076Jenny Lai jenny.lai@newsmilehk.comRichard Wong richard.wong@newsmilehk.comElina Zhang elina.zhang@newsmilehk.comNotes to editors:Ching Lee Holdings Limited “Ching Lee” or “The Group”Ching Lee Holdings Limited, a limited liability company incorporated under the laws of the Cayman Islands, is a contractor in Hong Kong with over 23 years of experience in public and private sectors. The principal activities of Ching Lee Holdings and its subsidiaries are the provision of construction and consultancy works and project management services in Hong Kong, engaged in providing substructure building works services, superstructure building works services, and repair, maintenance, alteration and addition (RMAA) works services. Ching Lee Holdings Limited was transferred from GEM board to the main board in HKEx on September 18, 2017 with stock code 3728.hk. Company website: http://www.chingleeholdings.com Copyright 2024 ACN Newswire via SeaPRwire.com.
新加坡, 2024年11月27日 - (亚太商讯 via SeaPRwire.com) - 一场令艺术爱好者心向往之的让·米歇尔·巴斯奎特艺术之旅即将拉开帷幕！今年12月，新加坡将迎来《Behind the Canvas：系列一之让·米歇尔·巴斯奎特》的全球首展，以沉浸式体验为核心，全方位呈现这位当代艺术巨匠的非凡生平与卓越创作。从2024年12月16日至2025年3月6日，这场艺术盛宴将在新加坡滨海湾金沙隆重上演。本次艺术之旅希望通过独特的艺术视角与沉浸式的互动体验，带领观众走入巴斯奎特的艺术世界，与之共鸣。《Untitled (Crown)》，1988此次为期三个月的 “Behind the Canvas” 系列沉浸展由 Jude Robert 与 Angelito Perez Tan, Jr. 联合创立的沉浸式概念艺术平台 Covenant ART，携手由纽约知名收藏家兼出版人Larry Warsh创立的艺术平台 House of Inspiration 共同呈现。同时，本次活动还获得了 AKG Ventures、SEA Pixel Investments、Meridian Alpha Family Office以及Alpha-Omega Holdings等合作伙伴的大力支持，致力于让艺术更贴近大众，使其更触手可及。致敬艺术与传承《Untitled》，1983让·米歇尔·巴斯奎特，这位美国艺术家打破艺术的边界，给当代艺术带来革新的灵魂。他以情感浓烈、直击灵魂的创作风格独树一帜，将强烈的个人视角巧妙融入在新表现主义绘画之中。其作品深刻聚焦于身份认同、种族与社会变迁等发人深省的主题，由此引发的共鸣跨越世代。此次《Behind the Canvas：系列一之让·米歇尔·巴斯奎特》有幸得到巴斯奎特遗产管理机构及其全球授权机构 Artestar 的全力支持，首次深度聚焦巴斯奎特的艺术创作旅程，带来前所未有的视角，引领观众深入了解他的生平、创作历程以及其深远影响力。借助互动装置、珍稀档案以及多感官体验，观众将踏入一场沉浸之旅，亲历巴斯奎特的成长岁月，共振他的创作灵感，见证其职业生涯的重要时刻。这场为期三个月的艺术探索之旅，旨在加深观众对巴斯奎特艺术创作的欣赏，激发思考，共同探讨其作品的深意。“能够将让·米歇尔·巴斯奎特的故事与艺术呈现给亚洲的新观众，我们深感荣幸。巴斯奎特的作品超越了时间、文化与地域的界限，将他的原始创意与独特视角引入一个全新的地区，意义非凡。” House of Inspiration 创始人兼艺术书籍出版公司 No More Rulers 创办人Larry Warsh表示。新加坡：艺术创新的核心枢纽 从左往右：《Untitled (Bust)》1984；《Pez Dispenser》1984；《Trumpet》1984《Behind the Canvas：系列一之让·米歇尔·巴斯奎特》面向大众，旨在让艺术变得更加触手可及。作为 “Behind the Canvas” 系列沉浸展的首站，新加坡进一步巩固了其文化重镇的地位。未来，该系列沉浸展计划在亚洲其它主要城市进行巡回展出。“能够在亚洲推出 ‘Behind the Canvas’ 系列沉浸展的首个篇章，我的内心激动不已。”Covenant ART 联合创始人 Jude Robert 分享道，“作为长期生活在中国、并在奢侈品与艺术领域发展个人事业的从业者，如今能在我的家乡新加坡推出这一原创沉浸式体验，对我而言极具个人意义。让·米歇尔·巴斯奎特是当之无愧的艺术家，我们期望 《Behind the Canvas：系列一之让·米歇尔·巴斯奎特》的体验能够成为激发创造和联结的强大催化剂，彰显这位艺术天才如何在当下依然具有深远的影响力。同时与新加坡国家艺术理事会和新加坡旅游局的紧密合作让我们倍感荣幸，我们非常高兴能够为提升与促进这座城市国家的创意文化贡献一份力量。”《Mitchell Crew》，1983 此次沉浸展亦是 2025 年 1 月备受瞩目的新加坡艺术周的重要组成部分。这一年度盛会致力于向大众展示艺术的多元性。“我们非常高兴与 Covenant ART 合作，通过 ‘Behind the Canvas’ 系列沉浸展推广艺术，激发公众对于艺术的热情与讨论。” 新加坡国家艺术理事会战略合作与参与部门总监Sam Lay表示，“这样的合作对新加坡艺术周至关重要。我们与视觉艺术界及利益相关方的紧密协作，可以进一步巩固新加坡作为全球艺术枢纽的地位。我们热忱欢迎各界人士共同参与这一视觉艺术盛事，与艺术展开深度对话！”切勿错过这场独一无二的艺术体验。了解更多关于《Behind the Canvas：系列一之让·米歇尔·巴斯奎特》，请访问 www.covenantexperiences.com。关于Covenant ARTCovenant ART 专注于创作以艺术为核心的原创沉浸式体验，通过将叙事艺术与尖端科技无缝融合，吸引艺术观众。我们坚信艺术作品背后的故事和灵感，与呈现眼前的作品一样，是生动且美好的。我们的目标是将其融入我们的每一场原创沉浸式体验之中。我们与合作伙伴携手，将全球具有代表性的当代艺术家作品以沉浸式的创新方式呈现，培养新一代的艺术爱好者与鉴赏家。关于House of InspirationHouse of Inspiration 是一个艺术平台，致力于通过出版、展览、创新的产品和体验，将个性、独具代表性、富有启发性和打破边界的当代艺术家及创意人才带给全球的文化爱好者。该平台的使命是致力于艺术鉴赏能力的培养，通过艺术带来多元的意识和积极性，鼓励各种形式的创意表达。关于新加坡滨海湾金沙新加坡滨海湾金沙是亚洲领先的集商务、休闲和娱乐于一体的综合娱乐胜地。这座综合娱乐胜地拥有约 1,850 间豪华酒店客房和套房，并以壮丽的空中花园观景台和标志性的无边泳池而著称。自2010年开业以来，其建筑设计令人惊叹，项目的规划丰富且多元。先进的会议和展览设施，亚洲顶级的奢侈品购物中心，世界级的餐饮与娱乐体验，以及在艺术科学博物馆举办的前沿展览，不仅改变了新加坡的风貌，也重塑了新加坡的旅游格局。新加坡滨海湾金沙致力于成为优秀的企业公民，为员工、社区和环境贡献力量。作为引领酒店行业的企业之一，新加坡滨海湾金沙雇佣了超过 11,500 名的成员，通过其社区参与计划“金沙关怀”（Sands Cares）积极回馈社会，并透过全球可持续性战略“Sands ECO360”引领环保事业。了解更多详情，请访问官方网站：www.marinabaysands.com关于AKG VenturesAKG Ventures 是一家由 Franklin Li 领导的全球宏观对冲基金，将前沿的数据和事件分析深入结合进研究，将全球宏观经济事件和市场波动转化为投资机会。公司相信每一次波动都孕育着改变未来的潜力。Franklin是亚洲的传奇交易员，曾投资并孵化了多个国际知名独角兽。他对人文与艺术充满热情，同时也热衷于收藏与慈善事业。关于SEA PixelSEA Pixel Investments 是一家总部位于新加坡的风险投资基金，其投资范围涵盖东南亚地区、中国（含香港地区）以及美洲地区。SEA Pixel 的投资组合包括 Lalamove、由腾讯支持的兴盛优选等知名企业，并且是 Infinity Ventures Crypto (IVC) 基金、Web 3.0、GameFi 和 DeFi 领域的早期有限合伙人，也是 IVC 的联合投资者。关于Meridian AlphaMeridian Alpha 家族办公室凭借其庞大且多元的合作伙伴网络，为家族及其他超高净值家庭甄别优质投资契机，谋求长远的卓越成就，并用心维系可持续性的合作纽带。关于Alpha-Omega HoldingsAlpha-Omega Holdings 是一家位于新加坡和伦敦的家族办公室，投资领域涵盖房地产、科技创投以及相关的特殊机会。公司致力于在实现多代财富保值增值的同时，为社会带来积极影响。关注我们的社交媒体：Instagram: @basquiatexperience.sgTikTok: @basquiatexperience.sgFacebook: basquiatexperience.sg小红书: Behind The Canvas微信: Behind The Canvas媒体垂询，请联系：JMB@invade.co Copyright 2024 亚太商讯 via SeaPRwire.com.
MANILA, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - foundit (formerly Monster APAC & ME) Asia’s leading jobs and talent platform, has unveiled its latest foundit Insights Tracker (fit) report, showcasing a remarkable 20% annual increase in hiring activity in the Philippines for October 2024. This surge, driven by strategic economic reforms and infrastructure development, highlights the region’s potential for robust economic growth.The fit report indicates a significant rise in hiring activity, with the index reaching 163 in October 2024, up from 118 in October 2023. This 20% annual increase underscores the robust recruitment momentum in the Philippines.Additionally, hiring activity saw a 15% month-over-month increase, with the index rising from 142 in September 2024 to 163 in October 2024, reflecting a strengthening job market. Over the past six months, hiring activity surged by 21%, driven by government initiatives focused on infrastructure development and economic reforms aimed at attracting foreign direct investments (FDI).The Retail sector experienced a 119% year-over-year increase in hiring demand, driven by the e-commerce boom. This surge highlights the growing importance of digital transformation in meeting consumer needs. The Logistics, Courier, Freight, and Transportation sector saw a 78% annual growth, reflecting expanded supply chain operations. The Advertising, Market Research, Public Relations, Media, and Entertainment sector recorded a 70% increase in hiring activity, showcasing the dynamic nature of these fields.Notably, there was a 127% increase in hiring for sales and business development roles, indicating a strategic shift towards strengthening sales networks. Purchase, Logistics, and Supply Chain roles saw a 103% rise, aligning with the broader industry trend of optimising supply chains. Marketing and Communications roles experienced a 69% increase, driven by a focus on influencer marketing and brand engagement.The Philippines' impressive hiring trends signal a strong economic recovery and a significant opportunity for Southeast Asia as a whole. With enhanced infrastructure and increasing foreign investments, particularly in the retail sector, the Philippines is setting an example for neighbouring countries to emulate.Foreign investments are driving job creation in key industries such as Retail, Logistics, and Media. In retail, companies are establishing new distribution hubs and retail outlets that connect Southeast Asian regions, strengthening cross-border trade and economic ties. This creates a ripple effect, fostering regional collaboration and encouraging countries like Malaysia to leverage similar growth opportunities in their own retail sectors.By sharing resources and adopting best practices, Southeast Asian nations can enhance economic resilience, promote a more integrated job market, and collectively unlock growth across the region.Timeframe for the ReportThe timeframe for the fit data is October 2023 to October 2024.About foundit - APAC & Middle Eastfoundit, formerly Monster (APAC & ME) is Asia’s leading jobs & talent platform offering comprehensive employment solutions to recruiters and job seekers across APAC & ME. In addition to a powerful AI-powered job search, foundit offers e-learning, assessments, and services related to resume creation, interview preparation, and professional networking. Since its inception, the company has assisted over 120 million job seekers across 18 countries in connecting them with the right job opportunities and upskilling. foundit is now also the Official Talent Partner of the Badminton World Federation across 20 key world tour events. Over the last two decades, the company has been a leader in the world of recruitment solutions and has launched a cutting-edge solution to give recruiters access to passive candidates in addition to active ones. With the use of advanced technology, foundit is seeking to efficiently bridge the talent gap across industry verticals, experience levels, and geographies. Today, foundit is committed to enabling and connecting the right talent with the right opportunities by harnessing the power of deep tech to sharpen hyper-personalised job searches and offer precision hiring. Additionally, foundit has been recognised as a Great Place To Work, reflecting its dedication to fostering a supportive and dynamic work culture. To learn more about foundit in APAC & Gulf, visit: www.foundit.in | www.founditgulf.com | www.foundit.sg | www.foundit.my |www.foundit.com.ph | www.foundit.hk| www.foundit.id Contact: Namrata SharmaNamrata.sharma@adfactorspr.com+6581383034 Copyright 2024 ACN Newswire via SeaPRwire.com.
CASCAIS, PORTUGAL, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - "Yayasan Kota Kita Surakarta", an organization based in Indonesia, is one of ten global grassroots initiatives recognized by the prestigious Intercultural Innovation Hub, a joint initiative of the United Nations Alliance of Civilizations (UNAOC) and the BMW Group, implemented with the support of Accenture, during a Ceremony held in the framework of the 10th UNAOC Global Forum in Cascais, Portugal under the theme "United in Peace: Restoring Trust, Reshaping the Future - Reflecting on Two Decades of Dialogue for Humanity". The Forum convened prominent figures, political leaders, UN officials including the United Nations Secretary-General, António Guterres, as well as representatives from civil society, academia, and the private sector, to share insights and reflect on the 20 years of the United Nations Alliance of Civilizations' impactful work.Selected for their project "Surakarta Space Shaper: Empowering Children to Design Child-friendly and Inclusive City", the organization transforms the approach to urban development by empowering children from diverse backgrounds to become future urban leaders. Through training and workshops, the programme fosters collaboration, builds confidence in children, and equips them to actively shape their city's future. Focused on creating child-friendly and inclusive cities, Surakarta Space Shaper empowers young leaders to engage in meaningful and participatory decision-making that improves urban environments for all. It also fosters a sense of urban citizenship, encouraging children to respect and integrate diverse cultural perspectives as they actively participate in the design and development of their city."The support of the Intercultural Innovation Hub will significantly contribute to our efforts in elevating the role of children in shaping our cities. By fostering intercultural understanding, we can ensure that children's voices are heard and valued, leading to more inclusive and vibrant urban spaces for all," said Nina Asterina, Program Manager for Urban Inclusivity Initiatives at Yayasan Kota Kita Surakarta.The Intercultural Innovation Hub supports grassroots initiatives that promote intercultural dialogue and understanding, thereby contributing to peace, cultural diversity, and more inclusive societies. This year's Ceremony was chaired by Mr. Miguel Ángel Moratinos, UN Under-Secretary-General and the High Representative for UNAOC, and Ms. Ilka Horstmeier, Member of the Board of Management of BMW AG People and Real Estate, Labour Relations Director.Through the Intercultural Innovation Hub, Yayasan Kota Kita Surakarta will receive a financial grant, as well as one year of capacity-building and mentorship support from UNAOC, the BMW Group, and Accenture, to help strengthen the "Surakarta Space Shaper: Empowering Children to Design Child-friendly and Inclusive City" project and its contribution towards a more inclusive society. This model of collaboration between the United Nations and the private sector creates a more profound impact, as partners provide their respective expertise to ensure the sustainable growth of each supported project.Learn more about the project: https://interculturalinnovation.org/yayasan-kota-kita-surakarta-surakarta-space-shaper-empowering-children-to-design-child-friendly-and-inclusive-cityMedia inquiries:- Milena Pighi, TeamLead and Spokesperson Corporate Citizenship, BMW Group, Milena.PA.Pighi@bmw.de- Mr. Alessandro Girola, Chief, Programming and Projects Unit, UNAOC, alessandro.girola@un.orgSOURCE: UNAOC Copyright 2024 ACN Newswire via SeaPRwire.com.
KUALA LUMPUR, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - RichTech Digital Berhad (“RichTech” or the “Company”), a company involves in the distribution of electronic reloads and provision of bill payment services in Malaysia, is pleased to announce the signing of underwriting agreement with KAF Investment Bank Berhad (“KAF”) for its upcoming public offering in conjunction with the listing on the ACE Market of Bursa Malaysia Securities Berhad (“ACE Market”). This pivotal milestone underscores RichTech’s determination to continued innovation and growth in the electronic reloads and bill payment sector of Malaysia.1. Ms. Agnes Wong Eei Nien, Executive Director of RichTech Digital Berhad2. Mr. Lee Teik Keong, Managing Director of RichTech Digital Berhad3. Mr. Wong Koon Wai, Non-Independent Non-Executive Chairman of RichTech Digital Berhad4. En. Rohaizad Ismail, Chief Executive Officer of KAF Investment Bank Berhad5. Mr. Yap Chin Fatt, Director, Corporate Finance of KAF Investment Bank Berhad [L-R]Established in 2010, RichTech is a leading provider of electronic reloads and bill payment services in Malaysia, powered by its proprietary SRS platform. The platform enables electronic reloads for mobile airtime and data, prepaid digital TV, gaming credits, application credit, and e-wallet credit, as well as bill payments for postpaid mobile network, utilities, maintenance services of national sewerage systems, internet, postpaid digital TV, quit rent, assessment payment, and education loans. It serves over 4 million users nationwide.This Initial Public Offering (“IPO”) exercise will involve a public issue of 54.66 million new ordinary shares (“Issue Shares”) and 25.31 million existing shares to be offered under Offer for Sale (“Offer Shares”), collectively representing 39.50% of the Company’s enlarged issued share capital. The allocation of the Issue Shares and Offer Shares are as follows:The allocation of Issue Shares will be offered in the following manner: -1. Shares for the Malaysian Public via Balloting:- 10.12 million Issue Shares, equally distributed between Bumiputera and non-Bumiputera investors (5% of the enlarged issued share capital).2. Allocation to Eligible Directors and Employees:- 1.55 million Issue Shares (0.77% of the enlarged issued share capital).3. Private Placement to Selected Investors:- 42.99 million Issue Shares (21.23% of the enlarged issued share capital).4. Offer for Sale via Private Placement to Selected Investors:- 25.31 million Offer Shars (12.50% of the enlarged issued share capital).KAF, in its role as Principal Adviser, Sponsor, Underwriter, and Placement Agent, will underwrite 11.67 million Issue Shares allocated for the Malaysian public and eligible individuals.Mr. Lee Teik Keong, Managing Director of RichTech, said, “The partnership with KAF enables us to take our services to greater heights while strengthening our ability to serve the growing market. With the funds raised, we will focus on expanding our SRS platform, enhancing our technological infrastructure, and introducing innovative services to cater to evolving consumer needs.”Rohaizad Ismail, Chief Executive Officer of KAF, remarked, “It is our honour to be part of RichTech’s remarkable journey to the ACE Market. RichTech’s focus on service excellence positions it as a key player in Malaysia’s electronic reloads and bill payment sector. This IPO will equip the company with the resources it needs to scale its impact and deliver exceptional value to its stakeholders.”RichTech will utilise IPO proceeds to fuel growth in the distribution of electronic reloads and provision of bill payment services, including marketing efforts to expand its SRS corporate and end-user base, as well as utilising the proceeds for general working capital purposes. A portion will fund the acquisition of a new office to consolidate its headquarters and branch under one roof, enhancing corporate profiling and operational efficiency. The remainder will cover listing expenses pertaining to its ACE Market debut and support strategic growth initiatives. The listing of RichTech on Bursa Securities will provide a solid platform for the company to accelerate its growth and advance its vision to become a leading force in Malaysia’s electronic reloads and bill payment industry.KAF Investment Bank Berhad is the Principal Adviser, Sponsor, Underwriter and Placement Agent. About RichTech Digital Berhad (“RichTech”)RichTech Digital Berhad is a leading provider of electronic reload and bill payment services in Malaysia, driven by its proprietary SRS platform. Established in 2010, the SRS platform enables electronic reloads for mobile airtime and data, prepaid digital TV, gaming credits, application credit, and e-wallet credit as well as bill payments for postpaid mobile network, utilities, maintenance services of national sewerage systems, internet, postpaid digital TV, quit rent, assessment, and education loans. With a network of over 4 million users nationwide, the Company delivers a one-stop solution with secure, scalable, and innovative technology to meet Malaysia’s growing demands on electronic reloads and bill payment sector.For more information, visit https://richtech.my/index.htmlIssued By: Swan Consultancy Sdn. Bhd. on behalf of RichTech Digital BerhadFor more information, please contact:Jazzmin WanEmail: j.wan@swanconsultancy.bizXinyi ChingEmail: x.ching@swanconsultancy.biz Copyright 2024 ACN Newswire via SeaPRwire.com.
Key Financial Performance Highlights for Q1FY2025:Group’s total revenue for the quarter is RM40.2 million, contributed primarily by key clients in the e-mobility and energy storage segment, supplemented by the electronics segment.Recorded PAT of RM4.1million for the quarter under review.GP, PBT, PAT, and PATAMI margins remain in the double-digit levels at 18.2%, 10.9%, 10.2% and 11.9%, respectively due to continued cost discipline.BANGI, Malaysia, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - Technology leader in providing turnkey, intelligent manufacturing automation solutions, GENETEC TECHNOLOGY BERHAD (“Genetec” or the “Company”), announced its financial results for the first quarter of its new financial year (“Q1FY2025). Despite the lower Year-on-Year (“YoY”) revenue, Genetec showcases its resilience with the continued profitability and high-double digit margins.The Company recorded revenue of RM40.2 million and gross profit (“GP”) of RM7.3 million for its Q1FY2025 ending 30 September 2024. It also reported profit before tax (“PBT”) of RM4.4 million, profit after tax (“PAT”) of RM4.1 million and profit after tax and minority interest (PATAMI) of RM4.8 million. Genetec continues to maintain double-digit margins for its GP, PBT, PAT and PATAMI of 18.2%, 10.9%, 10.2% and 11.9%, respectively.Genetec acknowledged that the last quarter has been challenging for the business which it believes was mainly attributed to policy uncertainties from the client’s operating markets. With the conclusion of the U.S. Presidential election and European policy developments, particularly on inflation, import tariffs, and decarbonisation, there is a sense of relief and clarity, and companies are moving forward with their capital expenditure with greater certainty.The Company, leveraging its expertise in customised automation technology and project execution, continue to work closely with its clients to deliver tailored solutions aimed at enhancing manufacturing automation, improving efficiency and increasing production yield for its clients. With its strong track record, Genetec is confident in its ability to continue to build trust and secure recurring business from its clients. Its high client retention rate stands as a testament to its exceptional performance and has been a key factor in the Company’s success. This strong foundation enables the Company to broaden its scope and product offerings with other divisions within the organisation of its existing clients to grow revenue over the long-term. At the same time, the Company’s business development team continue to explore new opportunities in new markets and industries, leveraging on its extensive experience and proven success working with leading international and reputable clients.Genetec’s Battery Energy Storage System (“BESS”) business is slowly gaining traction as it executes smaller-scale but strategically significant projects in both domestic and international markets. The Company remains confident that its execution capabilities and international track record will position Genetec favourably. Market developments such as the government’s recently announced Corporate Renewable Energy Supply Scheme (CRESS) through interest in pairing BESS technology with solar projects, will also support demand for BESS moving forward, and is a step in achieving 70 percent renewable energy in the capacity mix by 2050[1].Moving forward, Genetec remains committed to its strategy and focus on operational efficiency, strict cost management. With its low gearing levels and recent sale of subsidiary CLT Engineering Sdn Bhd to add to its already strong cash position, Genetec is positioning itself to ramp up operations in the coming months.About Genetec Technology BerhadGenetec Technology Berhad is a technology leader in providing customised full turnkey smart factory automation manufacturing lines. It is a public company listed on the Main Market of Bursa Malaysia Securities Berhad (Stock code: 0104). 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 its global customers in the Electric Vehicle (EV), Energy Storage, Automotive, Hard Disk Drive (HDD), Consumer Goods and Healthcare sectors.For more information please visit: https://genetec.net/.Issued by: Narro Communications on behalf of Genetec Technology Berhad[1] Source: Suruhanjaya Tenaga – Guidelines for CRESS Copyright 2024 ACN Newswire via SeaPRwire.com.
新加坡, 2024年11月26日 - (亚太商讯 via SeaPRwire.com) - SG GO (https://www.sg-go.tw)自豪地宣布，其面向台湾旅客的领先 SG Arrival Card (SGAC) 服务正式推出。在旅行便利性至关重要的时代，SG GO 正在革新台湾旅客前往新加坡的旅行准备方式。通过简化的SG Arrival Card申请服务，SG GO 正成为每一位前往狮城旅客的终极旅行伙伴。为现代旅客打造的无缝解决方案随着旅游限制逐步放宽，全球旅游业逐渐复苏，台湾已成为新加坡蓬勃发展的旅游市场的重要来源地。SG GO 凭借高效服务和以客户为中心的理念，通过快速、可靠且省心的 SGAC 申请流程，正在引领市场。SG Arrival Card 是一种数字化的旅行申报表，要求旅客提交个人信息、护照详情以及抵达日期。SG GO 将这一过程简化为三步，确保旅客能够专注于旅途，而非繁琐的文书工作。"我们致力于打造一个既高效又安全、用户友好的解决方案，"SG GO 的发言人表示，"十多年来，我们始终以使复杂的旅行文件申请变得简单且易于获得而享誉全球。"SG GO 的服务优势SG GO 的 SGAC 服务以最大限度地提升便利性和可靠性为目标，其亮点包括：- 专家支持：一支专业的旅行许可专家团队，确保所有申请符合新加坡移民部门的最新要求。- 快速处理：申请人可在 48 小时内获得核准的 SGAC，大大减少出行前的压力。- 全球可及性：服务对所有年龄和国籍的申请者开放，适合家庭及多样化的旅客群体。- 多语言支持：SG GO 团队提供多语言客户服务，确保台湾旅客获得无障碍的优质体验。- 退款保证：在极少数申请被拒的情况下，SG GO 承诺 100% 退款，充分展现其对客户满意度的承诺。此外，公司采用 SSL 加密技术保护用户的数据和付款信息，提供一个安全的平台完成所有交易。William Wong 的新加坡之旅对于台湾商务旅客 William Wong 来说，SG GO 的服务在他最近的访新行程中发挥了重要作用。Wong 表示："作为一名频繁出差的人，我没有时间应对复杂的签证流程。SG GO 让一切变得如此简单--我只需填写他们的在线表格，一天内我的 SG Arrival Card 就获批了。他们的团队专业、响应迅速，让我对整个流程充满信心。"Wong 的经历反映了众多满意客户的心声，这些客户因 SG GO 的高效和可靠而选择了他们的服务。满足现代旅行需求：台湾为何选择新加坡SG Arrival Card 现已成为所有入境新加坡旅客的强制性要求，无论年龄如何。尽管可以通过其他渠道申请 SGAC，但 SG GO 提供了一系列竞争对手无法比拟的优势，包括申请状态的实时更新以及个性化的全程支持。"我们认识到每位旅客的需求各不相同，我们的服务也因此多样化，"SG GO 发言人补充道，"从单独旅行者到大家庭，我们的目标是让每个人的新加坡之旅尽可能顺畅。"台湾旅客因新加坡丰富的文化、世界级景点和美食体验而日益被吸引。根据最新旅游统计数据，新加坡在台湾游客的国际旅行目的地中名列前茅，这得益于其安全性、便利性以及对家庭友好的吸引力。SG GO 把握这一趋势，通过契合台湾旅客偏好的服务，巩固其作为信赖伙伴的地位。凭借对便利性和可靠性的高度重视，SG GO 正在吸引台湾日益增长的国际旅客群体。展望未来展望未来，SG GO 将继续优化其 SGAC 服务，基于像 William Wong 这样的用户反馈提升客户体验。公司还计划扩展业务范围，为其他地区提供简化的旅行文件解决方案。"旅行应该是一种体验，而不是一堆文书工作，"SG GO 发言人总结道，"在 SG GO，我们致力于消除障碍，为人们创造无忧无虑的旅行机会。"想了解更多关于如何通过 SG GO 申请 SG Arrival Card，请访问其官方网站：https://www.sg-go.tw/。Media contactBrand: SG GOContact: Media teamEmail: info@sg-go.twWebsite: https://www.sg-go.tw/ Copyright 2024 亚太商讯 via SeaPRwire.com.
Brisbane, Queensland, Australia--(ACN Newswire via SeaPRwire.com - November 26, 2024) - Graphene Manufacturing Group Ltd. (TSXV:GMG) (OTCQX: GMGMF) ("GMG" or the "Company") is pleased to announce that in connection with the annual general meeting of the company's shareholders (the "Meeting"), that was held both virtually and in person on November 25th, 2024, the following voting results were obtained.A total of 40,947,619 common shares representing 42.31% of the Company's issued and outstanding common shares were voted in connection with the Meeting. At the Meeting, shareholders re-elected four current directors: Craig Nicol, Jack Perkowski, Bob Galyen and Andrew Small. Shareholders also voted in favour of the other items of business considered at the Meeting, which included the renumeration and appointment of BDO Audit Proprietary LTD. and the approval of the Company's 10% stock option plan.During the annual general meeting, Jack Perkowski, Chairman of GMG, and Craig Nicol, Managing Director and CEO, delivered a corporate update for shareholders in attendance. For a replay of the presentation, please click the link provided below.GMG 2024 AGM Presentation: https://youtu.be/fuUaQaKZROE?si=GNpL35BALI3H8a2DAbout GMGGMG is an Australian based clean-tech company listed on the TSX Venture Exchange (TSXV: GMG) that produces graphene and hydrogen by cracking methane (natural gas) instead of mining graphite. By using the company's proprietary process, GMG can produce high quality, low cost, scalable, 'tuneable' and no/low contaminant graphene - enabling demonstrated cost and environmental improvements in a number of world-scale planet-friendly/clean-tech applications. Using this and other sources of low input cost graphene, the Company is developing value-added products that target the massive energy efficiency and energy storage markets.The Company is pursuing opportunities for GMG graphene enhanced products, including developing next-generation batteries, collaborating with world-leading universities in Australia, and investigating the opportunity to enhance the performance and energy efficiency of engine oils, biodiesel and diesel fuels.For further information, please contact:Craig Nicol, Chief Executive Officer and Managing Director of the Company at craig.nicol@graphenemg.com, +61 415 445 223Leo Karabelas at Focus Communications, info@fcir.ca , +1 647 689 6041Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231548 Copyright 2024 ACN Newswire via SeaPRwire.com.
KUALA LUMPUR, Nov 26, 2024 - (ACN Newswire via SeaPRwire.com) - PROPEL GLOBAL BERHAD ("Propel Global" or the "Group”), a provider of oil and gas (“O&G”) services, today announced its financial results for the first quarter of fiscal year 2025 (“Q1 FY2025”). The Group recorded revenue of RM34.3 million for the quarter ended 30 September 2024, reflecting a 24.2% increase from RM27.6 million in the corresponding quarter of the previous year (“Q1 FY2024”).Ms. Angeline Lee, Executive Director, Group Chief Executive Officer of Propel GlobalThe Group achieved revenue growth in Q1 FY2025, driven primarily by the Oil & Gas (“O&G”) segment, which contributed RM20.3 million. This performance was supported by ongoing Engineering, Procurement, Construction & Commissioning (“EPCC”) and Marine Heating, Ventilation, and Air-conditioning (“HVAC”) projects. While the segment’s profit before tax (“PBT”) moderated to RM1.4 million compared to RM5.0 million in Q1 FY2024, this was primarily due to a foreign exchange loss of RM1.1 million from the depreciation of the US Dollar and the absence of one-off gains recorded in the previous year, amounting to RM2.8 million.The Technical Services (“TS”) segment achieved impressive revenue growth, reaching RM11.2 million, up from RM8.6 million in Q1 FY2024, reflecting progress on the construction of an electronics factory in Chuping, Perlis. Although the segment posted a marginal loss before tax (“LBT”) of RM0.2 million, this was mainly due to increased material and operational costs, which the Group is actively addressing to enhance margins moving forward.The Information and Communications Technology (“ICT”) segment continued its steady performance, contributing RM2.8 million in revenue and RM0.6 million in PBT. This reflects the success of the Group’s diversification strategy and its ability to capitalise on growth opportunities in the digital technology sector.For Q1 FY2025, the Group reported a LBT of RM4.0 million, compared to a PBT of RM0.9 million in Q1 FY2024. This was due to higher corporate administrative expenses, including professional charges and staff costs, along with a fair value loss of RM0.5 million on quoted shares and goodwill impairment losses of RM0.2 million. The absence of one-off gains recorded in the previous year further impacted the overall comparative performance.Despite these challenges, the Group remains well-positioned for future growth, with total equity of RM102.5 million and cash and cash equivalents of RM19.8 million as of 30 September 2024. This robust position enables PGB to invest in strategic initiatives and confidently navigate market uncertainties while maintaining a focus on long term value creation for stakeholders.Ms. Angeline Lee, Executive Director / Group Chief Executive Officer of Propel Global commented, “Our Q1 FY2025 results highlight the resilience of our business amidst external challenges. While foreign exchange losses and the absence of one-off gains impacted our profitability, our revenue growth reflects the strength of our core operations and ongoing diversification efforts.”She added, “With our increased stake in Best Wide Engineering Sdn. Bhd. (“BWE”) to 90.0%, we are well-positioned to capitalise on opportunities in the oil and gas sector, particularly as Petronas continues its RM60 billion capital expenditure. Additionally, our focus on HVAC services aligns with Malaysia’s sustainability goals under the National Energy Transition Roadmap (NETR) and Budget 2025, positioning us to meet the rising demand for energy-efficient solutions.”The Group remains optimistic about its growth prospects in fiscal year 2025 (“FY2025”). In the O&G segment, Petronas’ substantial investments, including RM10 billion in recently awarded contracts for Maintenance, Construction, and Modification (“MCM”) projects, provide a solid foundation for growth. The HVAC segment is set to benefit from Malaysia’s ambitious sustainability goals, with RM300 million allocated under Budget 2025 to support green initiatives and the potential introduction of a carbon tax in 2026 further encouraging businesses to adopt eco-friendly practices. PGB’s expertise in energy-efficient solutions positions the Group to capitalise on these trends.While global economic uncertainties persist, driven by geopolitical tensions and potential supply chain disruptions following the recent US presidential election, Malaysia’s economy is expected to grow steadily, with GDP forecasted to rise by 4.5% to 5.5% in 2025. This positive outlook, supported by a historic RM421 billion in expenditure under Budget 2025, underscores the Group’s confidence in its ability to navigate challenges and deliver sustainable growth for its stakeholders.ABOUT PROPEL GLOBAL BERHADPropel Global Berhad (“Propel Global” or the “Group”) is a provider of oil and gas (O&G) services, including the supply and provision of maintenance services for air-conditioning and ventilation systems, alongside specialised oilfield services such as pipe recovery, well intervention, diagnostic and sand management, and production enhancement. The Group also offers engineering and technical works for the O&G industry. In addition, Propel Global provides technical services for industrial, commercial, and residential construction and office maintenance, as well as ICT services, including trading in hardware, software, and spare parts. The Group also engages in investment holding activities.Issued By: Swan Consultancy Sdn. Bhd. on behalf of Propel Global BerhadFor more information, please contact:Jazzmin WanEmail: j.wan@swanconsultancy.bizXinyi ChingEmail: x.ching@swanconsultancy.biz Copyright 2024 ACN Newswire via SeaPRwire.com.
SINGAPORE, Nov 26, 2024 - (ACN Newswire via SeaPRwire.com) - For small businesses, every second saved and money spent can be the difference between surviving and thriving. GoDaddy recently found that 92% of small business owners surveyed globally view implementing AI in their businesses would yield in a positive impact to their bottom line.However, they have challenges when it comes to getting started. The top three reasons reported globally for not implementing AI are a lack of awareness of available solutions (49%), potential costs (48%), lack of understanding of the benefits (43%), and lack of time to implement these tools (29%). To make using generative AI fast and easy, GoDaddy launched GoDaddy Airo™, an AI-powered experience designed to save small business owners precious time in establishing their online presence and attract new customers.The Right Solution for Any Small BusinessGoDaddy Airo™, available in English language, makes leveraging the power of AI easy for anyone wanting to start a business or take their existing one to the next level.GoDaddy Airo™, using GoDaddy’s AI Domain Search tool, can recommend catchy domain names with just a description of their business. Within minutes of purchasing a domain from GoDaddy, GoDaddy Airo™ can instantly generate content for the business, including:Unique, eye-catching logo designs that can be easily customized to fit the business.A fully built website, using GoDaddy’s Websites + Marketing, with a paid subscription, including imagery and content designed to help the business engage and attract customers.A professional email account, with a paid subscription, that strengthens the credibility and prestige of the business.By simply uploading a product photo, an auto-generated custom product description is created for an online store.Social media calendar with recommendations of when to ideally post.GoDaddy Airo™ Is Always EvolvingGoDaddy Airo™ is live now for small businesses to take advantage of, and even more capabilities are coming."GoDaddy Airo™, as an AI powered experience, continuously evolves and improves ensuring that small businesses stay at the forefront of the latest technology," said Selina Bieber, Vice President for International Markets at GoDaddy. ”GoDaddy empowers entrepreneurs with online tools and solutions that combines the latest AI technology with the ease of use we're known for, helping small businesses drive growth and stay connected with their customers."For more information on how GoDaddy Airo can help your business visit GoDaddy's website.About GoDaddyGoDaddy helps millions of entrepreneurs globally start and scale their businesses. People come to GoDaddy to name their idea, build a website and logo, sell their products and services, and accept payments. GoDaddy Airo™, the company’s AI-powered experience, makes growing a small business faster and easier by helping them to get their idea online in minutes, drive traffic and boost sales. GoDaddy’s expert guides are available 24/7 to provide assistance. To learn more about the company, visit www.GoDaddy.com.Issued on behalf of GoDaddy. For more information, contact:Fekra Communicationsinfo@fekracomms.com Copyright 2024 ACN Newswire via SeaPRwire.com.
KUALA LUMPUR, Nov 25, 2024 - (ACN Newswire via SeaPRwire.com) - TOPVISION Eye Specialist Berhad (“TOPVISION” or the “Company”), an experienced player in medical eye care services in Malaysia, is pleased to announce the launch of its prospectus for the upcoming Public Offering in conjunction with TOPVISION’s transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”), a move that underscores its continuous commitment to delivering high-quality eye healthcare nationwide as well as boosts TOPVISION’s public market visibility.Group Photo 1 Caption (L-R):1. Mr. Phang Siew Loong, Head of Equity Markets, Hong Leong Investment Bank Berhad2. Wendy Teh, Co-head, Corporate Finance, Hong Leong Investment Bank Berhad3. Mr. Tan Kah Poh, Independent Non-Executive Director, TOPVISION Eye Specialist Berhad4. Datuk Kenny Liew Hock Nean, Executive Vice Chairman, TOPVISION Eye Specialist Berhad5. Mr. Lee Geok Ai, Independent Non-Executive Chairman, TOPVISION Eye Specialist Berhad6. Dr. Peter Chong Kuok Siong, Chief Executive Officer and Executive Director, TOPVISION Eye Specialist Berhad7. Ms. Lim May Wan, Independent Non-Executive Director, TOPVISION Eye Specialist BerhadThis Public Offering aims to raise RM17.89 million through the issuance of 54.22 million new ordinary shares at a retail price of RM0.33 per share. The funds raised from this exercise will be allocated as follows:RM7.90 million for the establishment of the TOPVISION International Eye Specialist Centre in Klang Valley, a tertiary eye ambulatory care centre with subspecialty services like retinal surgery, cornea transplants, and paediatric ophthalmology to meet patient needs and elevate eye healthcare standards.RM5.00 million for expanding the ACC network with new centres in Kuala Terengganu and Tawau, Sabah, expanding TOPVISION’s presence in East Malaysia and enhancing access to quality eye care.RM0.50 million for purchase of machines, including phacoemulsification machines to improve service quality across TOPVISION’s network.RM4.50 million for listing expenses for the transfer of listing from the LEAP Market to the ACE Market of Bursa Securities.Dr. Peter Chong Kuok Siong, Chief Executive Officer and Executive Director of TOPVISION said, “We are thrilled to launch our prospectus, marking TOPVISION’s another milestone in the process of transfer its listing to the ACE Market. This move not only accelerates our growth but underscores our commitment to advancing eye healthcare across Malaysia. With funds raised, we will expand our ACC network, establish TOPVISION International, and invest in new machines, all aimed at enhancing patient care. This listing reflects our dedication to sustainable growth, clinical excellence, and our mission to improve the quality of life for our patients.”Mr. Phang Siew Loong, Head of Equity Market of Hong Leong Investment Bank Berhad commented, “TOPVISION’s transition to the ACE Market marks a pivotal milestone in its growth journey. We are proud to support TOPVISION as it builds on its strong foundation of clinical excellence and patient-centered care. With this listing, TOPVISION is well-positioned to meet the growing demand for specialised eye care, aligning with Malaysia’s healthcare goals and paving the way for sustainable growth and innovation in the sector.”The medical eye care industry in Malaysia is projected to grow significantly, with revenue expected to expand at a compound annual growth rate (“CAGR”) of 10.0% from RM849.50 million in 2024 to RM1,249.40 million by 2028. This growth is driven by several key demand and supply factors. On the demand side, factors include steady population growth, an ageing population, increased medical tourism, growing consumer affluence, and a rise in lifestyle-related diseases. Meanwhile, supply-side growth is supported by advancements in medical eye care technology and strong government support.Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Bookrunner.Group Photo 2 Caption (L-R):1. Mr. Phang Siew Loong, Head of Equity Markets, Hong Leong Investment Bank Berhad2. Datuk Kenny Liew Hock Nean, Executive Vice Chairman, TOPVISION Eye Specialist Berhad3. Dr. Peter Chong Kuok Siong, Chief Executive Officer and Executive Director, TOPVISION Eye Specialist BerhadAbout TOPVISION Eye Specialist Berhad (“TOPVISION”)TOPVISION Eye Specialist Berhad is a prominent provider of medical eye care services in Malaysia, specialising in comprehensive eye care treatments including cataract surgery, treatment and management of glaucoma, and treatment and management of vitreous and retinal diseases. TOPVISION was listed on the LEAP Market in 2018, founded with a commitment to delivering advanced and patient-centric medical services, TOPVISION operates a growing network of ambulatory care centres (ACCs) across Malaysia. The Company leverages medical technology and a team of experienced ophthalmologists to provide high-quality treatments. As an experienced player in the field, TOPVISION continues to expand its services, focusing on both innovation and accessibility to enhance the eye health of patients throughout the region.For more information, visit https://www.tvesc.com/en/Issued By: Swan Consultancy Sdn. Bhd. on behalf of TOPVISION Eye Specialist BerhadFor more information, please contact:Jazzmin WanEmail: j.wan@swanconsultancy.bizXinyi ChingEmail: x.ching@swanconsultancy.biz Copyright 2024 ACN Newswire via SeaPRwire.com.
SINGAPORE, Nov 21, 2024 - (ACN Newswire via SeaPRwire.com) - Mooreast Holdings Ltd. (“Mooreast” or the “Group”), announced today it will appoint Mr Eirik Ellingsen, a Norwegian with deep experience in the offshore and marine sector, as Chief Executive Officer (“CEO”) amid growing adoption of floating wind energy projects worldwide.Mr Eirik Ellingsen’s appointment, which will begin 1 January 2025, comes amid the growing commercialisation of floating offshore renewable energy projectsMr Ellingsen will assume the role of CEO at Mooreast on 1 January 2025. He will be taking over from Mr Sim Koon Lam, the founder, who will continue to serve as Executive Director and Deputy Chairman of the Group.Mooreast is a total mooring solutions specialist and Asia’s only ultra-high power anchor manufacturer primarily serving the offshore renewable energy, offshore oil & gas and marine industries. With operations in Singapore and the Netherlands, the Group is establishing a manufacturing facility in Aberdeen, Scotland, and is making forays into the North East Asia market.In June 2024, the Group announced that it was acquiring 60 Shipyard Crescent from a subsidiary of Seatrium Limited. The acquisition increases Mooreast’s total land area to 129,609 sqm (approx. 1.4 million sqft) and quadruples its production capacity to produce enough subsea foundation to support between 1.5 gigawatts (“GW”) to 2GW of floating offshore wind energy per annum compared to its current capacity of 0.5GW.Mr Ellingsen, who is also a resident of Singapore, brings over 35 years of experience to the role. He is currently serving as Director of Offshore Wind in the Asia Pacific at independent non-profit foundation Norwegian Energy Partners (“Norwep”). In that role, he built strong relationships with the global offshore wind industry across South Korea, Japan, Taiwan, the Philippines, Vietnam and Australia. His last day at Norwep will be 31 December 2024.Before joining Norwep, Mr Ellingsen held several key roles in the global offshore industry. Notably, he served as Group Executive Director for Ferguson Group Ltd, where he oversaw its global container and modular business, and established its Singapore operations in 2008. He also founded Norway-based Ferdocean AS in 2018 which was sold in 2022. Following the sale, he was appointed Non-Executive Director of Ferdocean AS, where he provided strategic operational oversight of the business.Mr Ellingsen holds certifications in Business Sustainability Management from the University of Cambridge, Leadership and Competence Development for Board and Committee Members from the University of Stavanger and in Foundation Program in Business Administration from the BI Norwegian School of Management. Additionally, he is a certified ISO 9001, 14001, 27001 Lead Auditor through the Knowledge Academy.Mr Ellingsen’s appointment comes amid the growing commercialisation of floating renewable energy projects, which are moving further offshore to deeper waters, driving demand for advanced mooring solutions such as anchoring techniques and synthetic mooring lines.Floating wind farm developers require an innovative partner with a reliable network of suppliers and manufacturing capabilities to reduce costs and address supply chain challenges. This presents Mooreast with a strong opportunity to offer its cutting-edge mooring solutions.Mooreast said it would leverage on Mr Ellingsen’s extensive expertise and network within the offshore wind industry to capture business opportunities, as the Group positions itself as a key player in the global floating offshore wind market.Commenting on the appointment, Mr Sim Koon Lam said, “We are delighted to welcome Mr Ellingsen to the team; his experience, strong track record and deep industry knowledge and network will further accelerate our push towards the floating offshore renewable sector. We are confident he will strengthen our strategic direction, propel the Group to the next level and deliver long-term value to our shareholders.”Mr Eirik Ellingsen said “I am deeply honoured and excited to take on the role of CEO at Mooreast. I look forward to working with the Mooreast team to implement key transformation strategies to build momentum and achieve the Group’s long-term vision of becoming the leading mooring solutions provider within the floating renewable energy sector.”Leveraging more than 30 years of mooring and offshore marine expertise, Mooreast total mooring solutions include the design, engineering and fabrication of specialist anchors and equipment, as well as geotechnical and geophysical studies such as soil data analysis to determine project feasibility and engineering design for mooring configuration for floating wind turbines. The Group also incorporated Mooreast Taiwan in May 2024 and Mooreast Malaysia in July 2024.This press release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, W Capital Markets Pte. Ltd. (the “Sponsor”). This press release has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.The contact person for the Sponsor is Ms Alicia Chang, Registered Professional, W Capital Markets Pte. Ltd., at 65 Chulia Street, #43-01 OCBC Centre, Singapore 049513, Telephone (65) 6513 3525.Issued for and on behalf of Mooreast Holdings Ltd. by WeR1 Consultants Pte Ltd.About Mooreast Holdings Ltd.Mooreast is a total mooring solutions specialist, serving mainly the offshore renewable energy, offshore oil & gas (“O&G”) and marine industries, with operations primarily in Singapore, the Netherlands through its wholly-owned subsidiary in Rotterdam Mooreast Europe, and offices based in Scotland, Taiwan and Malaysia.Mooreast’s solutions include the design, engineering, fabrication, supply and logistics, installation and commissioning of mooring systems. Mooreast is applying its experience and expertise in mooring solutions to floating renewable energy projects, in particular floating offshore wind farms. It has successfully participated in developmental and prototype projects for floating offshore wind turbines in Japan and Europe.For more information, please visit https://mooreast.com/Media & Investor Contact InformationWeR1 Consultants Pte Ltd1 Raffles Place #02-01One Raffles Place Mall Suite 332Singapore 048616Isaac Tang, mooreast@wer1.net (M: +65 9748 0688) Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Nov 25, 2024 - (ACN Newswire via SeaPRwire.com) - On 21 November 2024, S&P Global Ratings released an updated report expressing strong recognition of Fosun International (HKEX: 00656)’s recent US dollar note issuance. S&P noted that the successful issuance is positive for the company’s credit matrix as it helps broaden the Group’s funding channels, thereby maintaining a “stable” outlook on Fosun International’s rating.S&P released the report following Fosun International’s successful issuance of USD300 million 3.5-year US dollar-denominated senior unsecured notes on 13 November. S&P pointed out that re-opening the offshore US dollar bond market which has been closed for more than three years reflects a significant improvement in Fosun’s creditworthiness and recognition from broad-based investors. The US dollar note issuance is positive in helping Fosun International to diversify its financing options, extend its debt maturities, and strengthen its liquidity buffer. Alongside the new note issuance, Fosun announced to tender its 2025 maturity bond up to equivalent amount of the new issue. This is to ensure that the new issue will not increase Fosun’s total outstanding interest-bearing debt.It is reported that the note issuance attracted strong interest from a large number of mainstream institutional investors globally, with the order book reportedly exceeding USD1.2 billion.According to various market sources, the successful issuance of the USD300 million notes was attributed to the company’s consistent focus on core business development, divestment of non-strategy asset, optimization of debt structure, and stabilization of international credit ratings over the past two years, helping Fosun to become one of the few Chinese private enterprises to regain vote of confidence from global investors in recent years. Amidst a backdrop of US rate easing cycle, Fosun continues to provide high-quality, secure, and long-term asset allocation options for its long-term supportive investors, thereby maximizing value for them.S&P mentioned in the report that although the size of the USD300 million note issuance is not large, combined with the Group’s USD888 million offshore syndicated loan raised earlier in the end of September, as well as Fosun’s solid track record of refinancing onshore bank loans over past years, S&P believes Fosun has adequate liquidity buffer to meet its debt maturities obligation over the next two years. S&P reaffirmed a “BB-” stable rating to the US dollar notes and expects Fosun to continue divesting its non-core assets, leading to a steady decline in the Group’s debt. Furthermore, as offshore subsidaries reach maturity, Fosun International’s dividend receipts are expected to enhance significantly.On 30 September, Fosun International announced the closure of a sustainability-linked syndicated loan totaling USD888 million through greenshoe, one of the largest of its kind issued by Chinese private enterprises this year. The loan is a three-year senior unsecured working capital loan and the participating banks include several leading banks from Greater China, the Asia-Pacific region, and Europe and the Americas. This reflects the continued recognition of the Group’s credit quality by both domestic and international banks, and indicates that the company’s sound financing channels will provide a solid foundation for its steady development.Recently, research reports from several securities firms have pointed out that Fosun International’s strategy of focusing on its core businesses has yielded significant results. Among them, Northeast Securities released a research report on 15 November, noting that Fosun International, driven by its twin driver of “innovation + globalization”, has a clear strategic positioning and robust performance across its four business segments. Furthermore, Fosun has steadily improved its cash flow through optimizing asset allocation. Northeast Securities is optimistic about Fosun’s future prospects and has assigned the company a “Buy” rating. Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Nov 22, 2024 - (ACN Newswire via SeaPRwire.com) - On November 20, NaaS Technology Inc. (NASDAQ: NAAS), the first U.S.-listed EV charging service company in China, released its Q3 2024 earnings report, showcasing an impressive performance.According to the announcement, the company's core strategy—its charging service business—has shown strong growth, contributing RMB 42.37 million in revenue, a 36% year-over-year increase, accounting for 95% of total revenue. This highlights the success of the company’s strategic focus, which also resulted in a significant increase in gross profit margin. In Q3 2024, the gross profit margin reached a record-high 57%, up from 38% in the previous quarter. Notably, the company achieved a critical milestone this quarter by recording its first-ever positive net profit. Non-IFRS net profit attributable to ordinary shareholders was RMB 21.2 million (US$ 3.0 million) for the third quarter, signaling a successful transition to the "high-quality development" phase, focusing on profitability and marking a significant improvement in the company’s earning capabilities.Strategic Focus on Charging Services, Strengthening the Role as an Industry ConnectorNaaS's strong profitability this quarter is closely tied to its strategic decision to focus on its charging services business, which is a platform business in nature.As a leader in third-party electric vehicle (EV) charging services, NaaS does not directly operate charging stations. Instead, it leverages its robust connectivity, operational, and intelligent digital capabilities to act as an "industry connector." Positioned as a platform linking supply and demand in the EV charging industry, NaaS avoids the low-profit, high-capital-intensive energy solutions segment and emphasizes the distinct platform characteristics of its charging service business.NaaS’s charging service business is supported by its strategic partnership with the Kuaidian APP, which serves as a traffic portal to provide interconnection services for various charging operators. The partnership expands NaaS’s user outreach while also improving EV charging stations’ utilization and operational efficiency, by drawing to them more customer traffic . For EV owners, the service enables quick searches for nearby charging stations, including real-time status updates, improving charging efficiency and optimizing the user experience.NaaS’s platform-driven charging services integrate various industry participants, enhance ecosystem construction on both the supply and demand sides, improve industry efficiency, and align the charging sector with the rapid growth of China's EV industry.This platform business requires substantial early-stage investment, including subsidies, to cultivate market habits and expand network coverage. With the rapidly evolving EV sector, characterized by technological innovation and shifting market dynamics, initial investments may be amplified. However, as the platform grows and user loyalty strengthens, the industry shifts from chaotic expansion to refined operations, with NaaS gradually realizing economies of scale and achieving profitability at scale.According to the latest financial report, NaaS is actively aligning with industry development trends by optimizing its internal processes and improving efficiency, thereby enhancing profitability. Driven by the dual forces of market demand and user growth, NaaS is gradually entering a harvest phase.The financial report shows that in Q3 2024, the company’s charging service business achieved steady growth in both GTR (Gross Take Rate) and NTR (Net Take Rate), with the proportion of profitable orders rising to 73%. The total charging volume transacted through the NaaS network reached 1.284 billion kWh, a 13% increase quarter-over-quarter. These factors collectively fueled the growth of NaaS’s charging service business and are the primary reasons behind the company achieving its first-ever quarterly non-IFRS net profit.Moving Beyond Subsidy Dependence, Achieving Organic Platform GrowthIn addition to its impressive profitability, NaaS’s charging service business has also demonstrated significant high-quality growth in scale. As the market matures, NaaS’s business shows clear scale advantages that continue to expand.Recognizing industry trends and aligning with internal capabilities, NaaS began reducing user subsidies in early 2024, transitioning from subsidy-driven growth to organic growth by expanding user acquisition channels and deepening partnerships. This shift not only allowed the company to focus on the core value of its charging services—promoting intrinsic growth through improved products and services—but also supported the development of a more stable and sustainable revenue model, strengthening its competitive moat.This shift is reflected in the financial data. Optimized subsidy policies contributed to an 81% year-over-year decrease in selling and marketing expenses to RMB 29.7 million (US$ 4.2 million) for this quarter. Despite reduced subsidies, NaaS’s platform achieved strong growth in transaction users in Q3.Besides, latest data also show the number of connected charging stations increased by 40% year-over-year to 96,000, and the total number of connected chargers rose by 49% year-over-year to 1.146 million, outpacing the industry’s average growth rate during the same period. Significant cut in expenses does not compromise the company’s continuous growth.AI-Driven Business Growth, Building an Industry EcosystemSince the launch of ChatGPT in 2022, the industry has been exploring how AI can empower various sectors, with the trend moving from general AI models to domain-specific applications—charging is no exception.AI can process and analyze vast datasets, including user needs, market trends, and historical transaction data, to accurately forecast supply-demand dynamics and provide personalized recommendations based on user behavior. This can significantly enhance supply-demand matching efficiency and accuracy, addressing key challenges such as inefficient matching and insufficient high-quality supply in the current charging industry.NaaS was an early adopter of AI and has demonstrated foresight in leveraging it to advance the charging industry.As early as 2016, NaaS began developing AI algorithms to improve transportation energy supply-demand matching, operational efficiency, and intelligent energy replenishment experiences. In 2023, the company launched its NEF (NaaS Energy Fintech) system based on advanced AI algorithms. This system manages station site selection, revenue evaluation, operational scheduling, maintenance, and more, enhancing the operational efficiency and financial sustainability of regional charging operators while improving the user experience.The scale of data often determines the intelligence level of AI algorithms. With its charging station network, NaaS has accumulated significant supply-demand data, providing an extensive stage for AI applications. In Q3, NaaS officially joined the AI Applications Alliance and is poised to continue unlocking the value of AI in the charging service industry, accelerating the digital transformation of the sector.Beyond AI-driven advancements, the rapid growth of EVs has facilitated the integration of ecosystem resources across the charging industry. NaaS is also building its own ecosystem around its charging services by establishing long-term partnerships with automotive OEMs, charging station operators, energy companies, and the State Grid. These collaborations expand infrastructure coverage, provide user-friendly experiences, and enhance customer loyalty.In August 2024, NaaS announced an in-depth partnership with FAW-Volkswagen to provide smart, efficient, and convenient charging experiences for NEV owners. In September, NaaS reached a strategic collaboration with IM Motors to offer enhanced service capabilities. These partnerships highlight NaaS’s ongoing efforts to expand the ecosystem in the EV charging industry, creating a comprehensive and robust service ecosystem.With the rapid growth of NEVs, the charging industry, as a critical supporting infrastructure, has entered a phase of accelerated expansion. As a "connector" in the charging service market, NaaS leverages AI-driven algorithms to continuously integrate resources from various industry participants and collaborate with ecosystem partners to build a mutually beneficial ecosystem. According to the latest financial report, NaaS has transitioned from the early "cash-burning" stage to a phase of refined operations, with its profitability model gradually being recognized by the market. The company is poised for large-scale profitability, supported by its wide network coverage, and its future development is highly anticipated. Copyright 2024 ACN Newswire via SeaPRwire.com.
