HONG KONG, Nov 29, 2024 - (ACN Newswire via SeaPRwire.com) - On November 28, the National Healthcare Security Administration (NHSA) and the Ministry of Human Resources and Social Security announced the "National Reimbursement Drug List (2024)" (NRDL), which will officially take effect on January 1, 2025. NEFECON(R), the first etiological treatment for IgA nephropathy developed by Everest Medicines, was successfully included in the NRDL. This milestone signifies a breakthrough in advancing the standardization of IgAN treatment and improving accessibility and affordability, offering hope for millions of IgAN patients in China. NEFECON(R) has been prescribed in mainland China since May this year and has been approved in Macau, Hong Kong, Taiwan, China, South Korea and in Singapore under the trade name Nefegan(R).NEFECON(R) is the first ever treatment for IgAN to receive full approval from the U.S. Food and Drug Administration (FDA) and the first non-oncology therapeutic to receive breakthrough therapy designation in China by the China National Medical Products Administration (NMPA), underscoring its globally leading position and exceptional clinical value. Recently, at the 2024 American Society of Nephrology (ASN) Annual Meeting, data from the open-label extension (OLE) phase of the NefIgArd Phase 3 trial demonstrated that patients undergoing a second course of NEFECON(R) treatment experienced similar benefits in estimated glomerular filtration rate (eGFR) preservation and proteinuria reduction as observed after the initial treatment, with good tolerance. These findings further validate the feasibility and efficacy of long-term treatment strategies, aligning with recommendations from the "KDIGO 2024 Clinical Practice Guideline for The Management Of Immunoglobulin A Nephropathy (IgAN) And Immunoglobulin A Vasculitis (IgAV)", highlighting NEFECON(R)'s innovation and clinical value in IgAN treatment. NEFECON(R) was also listed as the only treatment proven to reduce the levels of pathogenic forms of IgA and IgA immune complexes.IgAN is highly prevalent in Asia and is one of the main causes of kidney failure in young adults in China. Statistics show that with approximately 5 million IgAN patients in China and over 100,000 newly diagnosed patients annually, there is a significant unmet clinical demand. Since NEFECON(R)'s first prescription was issued in Mainland China in May 2024, the product has demonstrated strong market performance. According to Everest Medicines' interim report, NEFECON(R) achieved RMB1.673 billion in sales within its first month, reflecting widespread recognition of its therapeutic benefits and the significant demand for innovative therapies among Chinese patients.With NEFECON(R)'s successful inclusion in the NRDL, its accessibility and coverage in China are expected to increase significantly, driving sustained and robust commercial revenue growth for Everest Medicines. This milestone not only strengthens the company's leadership in nephrology but also injects new momentum into optimizing resource allocation and promoting synergistic development. As reimbursement coverage leads to expanded market penetration, this development is poised to be a key catalyst in unlocking the full value of the company's core products, further accelerating the reevaluation of its market potential.NEFECON(R) included in the NRDL is a testament to Everest Medicines' differentiated commercial strategy. Another core product, XERAVA(R) (eravacycline) is the world's first fluorocycline antibiotic for the treatment of complicated intra-abdominal infections, continues to excel in the field of complicated intra-abdominal infections. According to the recently released final report of the "Comprehensive Evaluation Project on the Clinical Application of Eravacycline", the drug demonstrated an impressive overall treatment effectiveness rate of 90.1%, further affirming its clinical value and safety. As of the first half of 2024, XERAVA(R) achieved cumulative sales of RMB2.33 billion, underscoring its strong market acceptance and potential.In the autoimmune disease portfolio, VELSIPITY(R) continues to make steady progress in its commercialization journey. In October, under the "Hong Kong and Macau Medicine and Equipment Connect" policy, VELSIPITY(R) received approval from the Guangdong Provincial Medical Products Administration and is now available for use in three designated medical institutions within the Greater Bay Area. Earlier this year, VELSIPITY(R) was also approved for use in Macau and Singapore. In addition, Everest Medicines recently submitted a new drug application (NDA) for VELSIPITY(R) in Hong Kong and plans to submit an NDA in Mainland China by the end of the year. As Everest Medicines' third commercialized product, VELSIPITY(R) is poised to become a key growth driver, with significant market potential expected to unfold as its adoption expands further.Everest Medicines continues to make significant strides in innovative R&D, with its proprietary mRNA development platform now fully localized. The company's first personalized mRNA cancer vaccine, EVM16, has Initiated an Investigator-Initiated Clinical Trial (IIT). Additionally, EVER001, a next-generation covalent reversible Bruton's tyrosine kinase (BTK) inhibitor being developed globally for the treatment of renal diseases, marks another important advancement. Everest Medicines will host an investor call on December 4th to discuss the results of the Phase 1b/2a clinical study of EVER001 in primary membranous nephropathy, highlighting its potential to drive future growth.Driven by the inclusion of NEFECON(R) in the NRDL and the continued progress of its core pipeline, Everest Medicines' business model demonstrates its resilience and strength. The company remains steadfast in fulfilling its commitments to investors while strengthening market confidence in its innovation and long-term growth potential. With a diversified focus on renal, infectious, and autoimmune diseases, Everest Medicines is harnessing its robust commercialization platform to fuel growth, steadily advancing toward its vision of becoming Asia's leading global biopharmaceutical company. Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Nov 28, 2024 - (ACN Newswire via SeaPRwire.com) - China’s largest retail digitalization solution provider– Dmall Inc. (“Dmall” or the “Company”, Stock Code: 02586.HK), today announced the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”).Dmall plans to offer 25,774,000 Shares (subject to the over-allotment option), of which 23,196,600 Shares will be International Offer Shares (subject to reallocation and the over-allotment option), representing approximately 90% of the initial offer shares; the remaining 2,577,400 Shares will be Hong Kong Offer Shares (subject to reallocation), representing approximately 10% of the initial offer shares. The Offer Price is HK$30.21 per Share, plus brokerage of 1.0%, SFC transaction levy of 0.0027%, Hong Kong Stock Exchange trading fee of 0.00565% and Accounting and Financial Reporting Council transaction levy of 0.00015% (payable in full on application in Hong Kong dollars and subject to refund).Dmall will open for Hong Kong Public Offering in Hong Kong at 9 a.m., November 28, 2024 (Thursday), and close at 11:30 a.m., December 3, 2024 (Tuesday). Dealings in shares of Dmall on the Main Board of the Hong Kong Stock Exchange is expected to commence on December 6, 2024 (Friday). The shares will be traded in board lot of 100 shares each. The Company’s stock code will be 02586.HK.UBS Securities Hong Kong Limited, CMB International Capital Limited and China Merchants Securities (HK) Co., Limited are the Joint Sponsors. UBS AG Hong Kong Branch, CMB International Capital Limited, China Merchants Securities (HK) Co., Limited, CLSA Limited and China International Capital Corporation Hong Kong Securities Limited are the Joint Global Coordinators, Overall Coordinators, Joint Bookrunners and Joint Lead Managers.After deducting the underwriting commissions and other estimated offering expenses payable by the Company, with an Offer Price of HK$30.21 per Offer Share, the Company estimates that it will receive net proceeds of approximately HK$623.7 million from the Global Offering after deducting the underwriting commissions and fees, and other estimated expenses in connection with the Global Offering and assuming that the Over-allotment Option is not exercised. In line with Dmall’s strategies, the proceeds from the Global Offering are intended to be used for the following purposes and in the following amounts – approximately 42.1%, or HK$262.6 million, to develop new applications and new service modules; approximately 30.0%, or HK$187.1 million, for talent acquisition associated with the expansion of Dmall’s operations; approximately 10.0%, or HK$62.4 million, to selectively pursue strategic cooperation, investments and acquisitions that are complementary to its organic growth strategies, particularly those that can complement Dmall’s product offerings, strengthen its technology capabilities, and solidify its market position; approximately 7.9%, or HK$49.3 million, to expand its sales network and further strengthen its brand reputation; and approximately 10.0%, or HK$62.4 million, for working capital and general corporate purposes.Dmall was founded in 2015, which provides retail digitalization solutions to retailers in the local retail industry. According to Frost & Sullivan, Dmall is the largest retail cloud solution provider in China by GMV, with a market share of 13.3% in 2023. The expansion has allowed the Company to become the largest retail cloud solution provider in Asia by GMV in 2023, occupied a market share of 10.9%, according to Frost & Sullivan.As a leading retail digitalization solution provider in Asia, the broadest operational modules coverage enables Dmall to cover diverse customer base in the retail industry and thus obtain deep retail know-how, meet the needs of all major aspects of the retailer's operations. Dmall served 444 customers in the six months ended June 30, 2024, such as Pangdonglai, Luosen (China), Dennis and Maidelong Entities, as well as well-known brands such as Wellcome, Mannings, Guardian, Giant and 7-Eleven (Hong Kong), which operate under the DFI Retail Group, demonstrating a widely validated operating model. The dollar-based net retention ratio was 184% in 2021, 158% in 2022, 117% in 2023 and 123% in the twelve months ended June 30, 2024, remaining robust at above 100%, which underscores Dmall’s ability to further increase customer spending.Dmall has always attached importance to the value created for customers, “customer success” is the starting point of everything the Company does. Dmall has provided services to leading companies in different retail formats, and has successfully expanded its businesses markets outside of the Chinese mainland, comprising Hong Kong SAR, Cambodia, Singapore, Malaysia, Poland, Macau SAR, Indonesia, the Philippines and Brunei. In terms of income, the overseas income of the Company in 2023 has exceeded RMB100 million.Dmall achieved strong revenue growth as its revenue grew by 56.6% from RMB848.2 million in 2021 to RMB1,328.3 million in 2022, and further increased by 19.4% to RMB1,585.4 million in 2023. Dmall’s revenue increased by 22.9% from RMB764.0 million in the six months ended June 30, 2023 to RMB939.2 million in the six months ended June 30, 2024. Dmall has also improved its gross margin during the Track Record Period. Dmall’s gross margins were 20.4%, 38.0%, 35.0%, 36.3% and 38.3% in the years ended December 31, 2021, 2022, 2023 and the six months ended June 30, 2023 and 2024, respectively.Mr. Zhang Feng, co-founder, executive Director and president of Dmall said, “We empower retailers to thrive in the digital era and are committed to becoming the world's leading omnichannel retail digital solutions provider. We will uphold the values of "continuous innovation", always strive, constantly strengthen and uphold our own technical barriers and optimize products and services, maintain core competitiveness, continue to provide customers with high-value services, and help customers' business. We look forward to taking the listing as an opportunity to fully leverage our competitive advantages and utilize Hong Kong's unique financing platform to further enhance our strengths and continue to create greater value for our shareholders and investors.”Issued by Porda Havas International Finance Communications Group for and on behalf of Dmall Inc. For further information, please contact:Porda Havas International Finance Communications GroupMS.Fung Kelly(852) 3150 6763kelly.fung@h-advisors.globalMS.Wang Evie(86) 135 2006 8960evie.wang@h-advisors.global Copyright 2024 ACN Newswire via SeaPRwire.com.
香港, 2024年11月28日 - (亚太商讯 via SeaPRwire.com) - 在政策利好与市场氛围转暖的共振之下，2024年港股IPO市场复苏势头强劲，今年前三季度，香港IPO募资规模重回全球前四。亚洲物流巨头顺丰控股（6936.HK）已于11月27日登陆港交所，成为港股市场最大的物流领域上市企业、2023年以来港股第二大「A to H」 IPO项目，同时也是物流行业第一单「A to H」 IPO项目。在昨日的上市仪式上，顺丰创始人王卫先生表示在港上市对顺丰意义重大，集团可依托香港平台更好发展国际市场。王卫先生称，顺丰已经经营31年，7年前于A股上市，7年间集团面对不少困难，但团队有能力接受任何挑战，有丰富经验接受很多不能预控的因素。王卫先生在致辞中特别引用了广为传唱的粤语经典名歌曲《狮子山下》歌词，展现了其对顺丰未来发展的坚定信念与积极向往。顺丰在其发展过程中，也逐渐形成了与香港精神高度契合的企业精神，即拼搏进取、追求卓越、创新奉献、回馈社会。稀缺龙头：亚洲物流行业先锋与领导者顺丰控股于1993年在广东顺德创立，经过31年持续深耕，综合实力稳步增强，位居《财富》世界500强企业之列，2024年获评《财富》最受赞赏的中国公司第二位，这也是顺丰连续8年上榜「《财富》最受赞赏的中国公司」。一流的服务品质，令顺丰品牌在全球物流领域广获认可，品牌声誉卓著。根据弗若斯特沙利文，按2023年收入计，公司是中国及亚洲最大的综合物流服务提供商，也是全球第四大综合物流服务提供商，仅次于联合包裹服务公司（UPS）、敦豪（DHL）和联邦快递（FedEx）。直营模式、综合物流能力和独立第三方，构成顺丰控股业务模式的三个关键属性。顺丰直接经营从最初一公里收件到最后一公里派送的整个端到端物流流程，且是中国唯一一家独立于主要电商平台的规模化综合物流服务提供商，既提供全方位国内及国际物流服务，也向跨国公司、大型企业、中小型企业及散单客户提供一站式解决方案，为当今亚洲物流行业中独一无二的领军企业。盈利释放：多重因素带动盈利强劲增长2021年至2023年，顺丰控股收入、归母净利润复合年增长率分别达11.7%、31.9%，年末现金及现金等价物、和交易性金融资产从人民币452亿元增至人民币473亿元。2024年首三季度，公司各项业务增长延续稳健，同时调优网络结构，加强精益化资源规划与成本管控，整体营收同比增加9.4%，归母净利润同比增加21.6%。从各业务线来看，顺丰控股核心业务速运分部盈利相对稳定，鄂州枢纽投产料将夯实国内国际航网并提升资产利用率，大件、同城等新业务均兑现盈利并持续扩张，供应链及国际业务有望凭借中国企业出海以及供应链升级打造第二增长曲线。鉴于公司收入体量大，近两年均在2,500亿人民币以上，且盈利能力不断增强，在多网融通及营运模式变革下，降本增效持续兑现，将带来较大业绩弹性，带动盈利强劲增长。股东回报：积极回馈股东顺丰控股持续加大分红和回购力度。自2017年上市以来，公司每年均会宣派年度股息，派息率由2017年至2022年的20%提升至2023年的35%。公司于2024年10月公告中期分红将派息率提升到40%，并执行一次性特别分红，合计分红超人民币67亿元。根据公司未来五年（2024年-2028年）股东回报规划，现金分红比例将在2023年度基础上稳步提高。另外，从2022年开始，截至2024年10月31日，顺丰控股累计回购股份折合总金额约为人民币近48亿元，注销股份7,929万股，注销比例1.62%。选择在港股市场流动性增强、IPO发行环境改善的第四季度上市，对顺丰控股而言，是一个相当有利的时机。在香港资本市场的助力下，公司未来将进一步推进国际化战略、打造国际化资本运作平台、提升国际品牌形象及综合竞争力。 Copyright 2024 亚太商讯 via SeaPRwire.com.
香港, 2024年11月28日 - (亚太商讯 via SeaPRwire.com) - 中国最大的零售数字化解决方案服务商-多点数智有限公司（"多点"或"公司"，股份代号：02586.HK），今日宣布将于香港联合交易所有限公司 （"香港联交所"） 主板上市计划。多点将发售25,774,000股股份（视乎超额配股权行使与否而定），其中23,196,600股股份（可予重新分配及视乎超额配股权行使与否而定）将作国际发售，合共占初步发售股份总数的90%；馀下2,577,400股股份（(可予重新分配）将于香港作公开发售，合共占初步发售股份总数的10%，每股发售价为30.21港元，另加1.0%经纪佣金、0.0027%证监会交易征费、0.00565%香港联交所交易费及0.00015%会计及财务汇报局交易征费（须于申请时以港元缴足，且多缴股款可予退还）。多点将于2024年11月28日（星期四）上午9时开始于香港公开发售，并于2024年12月3日（星期二）上午11时30分截止。多点的股票预计将于2024年12月6日（星期五）于香港联交所主板开始进行买卖，股份将按每手买卖单位100股股份买卖，股票代号为02586.HK。UBS Securities Hong Kong Limited、招银国际融资有限公司、及招商证券（香港）有限公司为本次发行之联席保荐人。UBS AG Hong Kong Branch、招银国际融资有限公司、招商证券（香港）有限公司、中信里昂证券有限公司、中国国际金融香港证券有限公司为整体协调人、联席全球协调人、联席账簿管理人及联席牵头经办人。经扣除包销费用及其他与全球发售有关的估计开支后，按每股发售股份30.21港元计算，并假设超额配股权未获行使，公司估计将自全球发售收取所得款项净额约人民623.7百万港元。根据公司策略，其中约42.1%，或262.6百万港元将分配于开发新应用程式及新服务模块；约30.0%，或187.1百万港元将分配于与公司的业务扩张相关的人才招聘；约10.0%，或62.4百万港元将分配于选择性地寻求与多点的自然增长战略互补的战略合作、投资及收购，尤其是能够补公司的产品组合、增强公司的技术能力及巩固公司市场地位的战略合作、投资及收购；约7.9%，或49.3百万港元将分配于扩大公司的销售网络并进一步加强公司的品牌声誉；约10.0%，或62.4百万港元将用于营运资金及一般企业用途。多点成立于2015年，为本地零售业的零售商提供零售数字化解决方案。根据弗若斯特沙利文的资料，按商品交易总额计算，多点是2023年中国最大的零售云解决方案服务商，拥有13.3%的市场份额；按商品交易总额计算，多点成为2023年亚洲最大的零售云解决方案服务商，拥有10.9%的市场份额。作为亚洲领先的零售数字化解决方案服务商，多点覆盖了广泛的运营模组，触达了零售行业内多样化的客户群，从而获得深入的零售专业知识，满足零售商所有关键运营环节的需求。截至2024年6月30日，多点已为444名客户提供服务，包括胖东来、罗森（中国）、丹尼斯百货及麦德龙实体、以及DFI Retail Group经营的惠康、万宁、Guardian、Giant及7-11等知名品牌，运营模式受到广泛验证。于2021年、2022年、2023年及截至2024年6月30日止十二个月，净收益留存率分别为184%、158%、117%及123%，维持于100%以上的强劲水平，这凸显了其进一步增加客户消费的能力。多点自始至终重视为用户创造的价值，"客户成功"是多点一切工作的出发点。多点已经为零售行业各业态中的龙头企业提供服务，还成功将业务扩展至境外其他国家和地区，包括香港特别行政区、柬埔寨、新加坡、马来西亚、波兰、澳门特别行政区、印尼、菲律宾及汶莱。按收入计，2023年多点境外收入已突破亿元大关。于往绩记录期间，多点实现了强劲的收益增长，收益由2021年的人民币848.2百万元增加56.6%至2022年的人民币1,328.3百万元，并进一步增加19.4%至2023年的人民币1,585.4百万元。收益由截至2023年6月30日止六个月的人民币764.0百万元增加22.9%至截至2024年6月30日止六个月的人民币939.2百万元。于往绩记录期间，多点的毛利率亦有所改善。截至2021年、2022年、2023年12月31日止年度以及截至2023年及2024年6月30日止六个月，毛利率分别为20.4%、38.0%、35.0%、36.3%及38.3%。多点数智有限公司联合创始人、执行董事兼总裁张峰先生表示："我们助力零售赢在数字时代，致力于成为全球领先的全渠道零售数字化解决方案供应商。我们将秉持"持续创新"的价值观，始终奋斗，不断垒实自身技术壁垒并优化产品服务，保持核心竞争力，持续为客户提供高价值服务，助力客户业务。我们期待以上市为契机，充分发挥自身的竞争优势，利用香港特有的融资平台，进一步提升实力，为股东和投资者持续创造更大价值。"此新闻稿由博达浩华国际财经传讯集团代表多点数智有限公司发布。如有垂询，请联络︰博达浩华国际财经传讯集团冯嘉莉女士 (852)3150 6763 kelly.fung@h-advisors.global王佩女士 (86)135 2006 8960 evie.wang@h-advisors.global Copyright 2024 亚太商讯 via SeaPRwire.com.
SAN FRANCISCO, CA & MUMBAI, Nov 28, 2024 - (ACN Newswire via SeaPRwire.com) - Niyo, India’s leading fintech startup, teamed up with CleverTap, the all-in-one engagement platform, to improve customer experiences through personalized engagement and real-time interactions. Since its founding in 2015, Niyo has been revolutionizing financial services in India, particularly with its international travel cards and app-based financial services, catering to the evolving needs of its users.In its almost decade-long journey, Niyo recognized the challenges that modern Indian travellers face at every touchpoint while venturing abroad. It sought a feature-rich user engagement platform that would effectively deliver the right solutions to its customers and found the ideal partner in CleverTap. By leveraging CleverTap’s advanced automation tools, Niyo enhanced its onboarding processes, while ensuring compliance with regulations, and streamlining customer experiences. This collaboration empowered Niyo to reduce drop-offs during the customer journey, automate personalized messages, and re-engage dormant users.By deploying CleverTap’s integrated platform, Niyo achieved:・2x increase in click through rates, leveraging Clever.AI for emotionally intelligent content.・40% optimized conversion rate through pinpoint targeting, ensuring personalized and relevant communication at every step.・12% re-engagement of dormant users through targeted campaigns, highlighting Niyo’s success in winning back inactive customers.Sushanth Ravikumar, SVP - Head of Marketing, Niyo, said - “At Niyo, delivering a seamless and personalized experience for our customers is a top priority. CleverTap has been instrumental in elevating this experience. Its robust automation and communication tools have streamlined our onboarding process while maintaining compliance in the highly regulated sector. What started as a tool to streamline everyday operations has become a key force in helping us preserve customer trust, even during challenging times. Its ability to adapt to real-time shifts in customer engagement offers us a definitive edge in an ever-changing dynamic, solidifying our long-term confidence in the platform.”Sidharth Pisharoti, Chief Revenue Officer, CleverTap, said - “We are excited to collaborate with Niyo as they continue to innovate in the travel fintech space. Through our partnership, we’ve been able to enhance Niyo’s customer engagement by focusing on delivering personalized and timely experiences. This has not only streamlined their processes but also improved customer satisfaction, particularly in key areas like onboarding and transaction management. We look forward to supporting Niyo as they scale and evolve their offerings in this dynamic market.”About Niyo Niyo is India’s leading banking fintech that has revolutionized "travel banking" for Indians. The company was co-founded by banking veteran Vinay Bagri (currently, CEO) and technology veteran Virender Bisht (currently, CTO) in 2015. Niyo offers zero forex debit and credit cards, which provides the best banking experience and value for international travellers. This unique solution was invented by Niyo in 2015 and has helped over 2 million Indians by saving more up to 5% on their international transactions with Zero Forex offering. In this last Series-C round in 2022, Niyo raised $130 million, which was led by global VC and PE firms, Accel, Lightrock, and Multiples. Its other investors include Prime Venture Partners, Horizons Ventures, Tencent, JS Capital, Social Capital, and Beams Fintech Fund. Niyo operates out of a corporate office in Bengaluru and has a sales presence in more than 20 states and union territories.Visit: GoNiyo.comAbout CleverTapCleverTap is the leading all-in-one customer engagement platform that helps brands unlock limitless customer lifetime value. CleverTap is trusted by over 2000 brands like Decathlon, Domino’s, Levis, Jio, Emirates NBD, Puma, Croma (A Tata Enterprise), Swiggy, SonyLIV, Axis Bank, AirAsia, TD Bank, Ooredoo, and Tesco, to help build personalized experiences for all their customers. The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering speed and cost efficiency at scale.Backed by top-tier investors such as Accel, Peak XV Partners, Tiger Global, CDPQ and 360 One, the company is headquartered in San Francisco, with presence across Seattle, London, São Paulo, Bogota, Mexico, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Singapore, Vietnam, and Jakarta.For more information, visit CleverTap.com or follow us on:LinkedIn: https://www.linkedin.com/company/clevertap/ X: https://twitter.com/CleverTap Forward-Looking StatementsSome of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.For more information:SONY SHETTYDirector, Communications and CSR, CleverTap+91 9820900036sony@clevertap.com ASHMIT CHAUDHARYAssociate Consultant, Archetype+91 8850752121ashmit.chaudhary@archetype.co Copyright 2024 ACN Newswire via SeaPRwire.com.
KUALA LUMPUR, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - Cropmate Berhad (“Cropmate” or the “Company”), a key player in the conventional and specialty fertiliser manufacturing industry in Malaysia, is pleased to announce that its Initial Public Offering (IPO) for the Malaysian public has been oversubscribed by 84.88 times, indicating strong investor interest in Cropmate’s growth trajectory and prospects.Managing Director of Cropmate Berhad, Mr. Lee Chin YokCropmate’s IPO of 260.00 million ordinary shares (“IPO Shares”) consists of a Public Issue of 210.00 million new ordinary shares (“Issue Shares”) and an Offer for Sale of 50.00 million shares (“Offer Shares”) involving:(I) Institutional offering of 208.34 million IPO Shares in the following manner:158.34 million Issue Shares allocated via private placement to institutional and selected investors, including 42.25 million Issue Shares approved for Bumiputera investors by the Ministry of Investment, Trade and Industry (“MITI”); and50.00 million Offer Shares allocated via private placement for Bumiputera investors by the MITI.(II) Retail offering of 51.66 million IPO Shares in the following manner:36.90 million Issue Shares made available for application by the Malaysian public via balloting, with an equal allocation between Bumiputera and non-Bumiputera investors; and14.76 million Issue Shares reserved for application by the eligible directors of the Company, employees of Cropmate and its subsidiary (“Group”) and persons who have contributed to the success of the Group (“Eligible Persons”).The Group received a total of 21,392 applications for 3,169,052,100 Issue Shares with a value of approximately RM633.81 million were received from the Malaysian public, which represents an overall oversubscription rate of 84.88 times. For the Bumiputera portion, a total of 10,745 applications for 1,368,843,700 Issue Shares were received, which represents an oversubscription rate of 73.19 times. For the public portion, a total of 10,647 applications for 1,800,208,400 Issue Shares were received, which represents an oversubscription rate of 96.57 times.The 14.76 million Issue Shares made available for application by the Eligible Persons were fully subscribed.Under the Institutional Offering of 208.34 million of IPO Shares, the Bookrunner has confirmed that it has received interests to subscribe the 158.34 million Issue Shares allocated via private placement to institutional and selected investors, including 42.25 million Issue Shares for Bumiputera investors by the MITI, as well as 50.00 million Offer Shares allocated via private placement for Bumiputera investors by the MITI.Managing Director of Cropmate Berhad, Mr. Lee Chin Yok, expressed, “The robust response to our IPO reflects the trust that investors have placed in Cropmate’s business and strategic direction. We are grateful for this overwhelming support and excited to move forward with our plans to enhance our operations and customer service capability to meet the growing demand for our fertilisers.”Mr Lee also added, “The enthusiastic response from investors underscores their belief in Cropmate’s future potential. This support motivates us to strengthen our operations and continue innovating to meet the evolving needs of the agriculture industry.”Group Managing Director/Chief Executive Officer of Hong Leong Investment Bank Berhad (“HLIB”), Ms. Lee Jim Leng, remarked, “The strong demand for Cropmate’s IPO is a testament to the investment community’s recognition of the Company’s solid management team and their prospects. Cropmate is well-positioned to make a meaningful impact in the agricultural sector, and we are honoured to support them in their journey.”Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Underwriter and Bookrunner.Cropmate Berhad is scheduled to make its debut on the ACE Market of Bursa Securities on 5 December 2024.About Cropmate Berhad (“Cropmate”)Founded in 2018, Cropmate Berhad is an established fertiliser manufacturer and supplier in Malaysia, specialising in the formulation and blending of conventional and specialty fertilisers. With a focus on innovation and sustainability, Cropmate offers a wide range of products designed to enhance agricultural productivity, including compacted and blended fertilisers, as well as semi-organic, organic, and liquid fertilisers. Led by industry veterans with decades of experience, Cropmate is committed to supporting farmers in improving crop yield and quality. As the first pure-play fertiliser company listed on Bursa Malaysia, Cropmate continues to advance its mission of contributing to the growth and sustainability of the agricultural sector.For more information, visit https://www.cropmate.com.my/Issued By: Swan Consultancy Sdn. Bhd. on behalf of Cropmate BerhadFor more information, please contact:Jazzmin WanEmail: j.wan@swanconsultancy.bizWilliam YeoEmail: w.yeo@swanconsultancy.biz Copyright 2024 ACN Newswire via SeaPRwire.com.
KUCHING, MALAYSIA, Nov 28, 2024 - (ACN Newswire via SeaPRwire.com) - Industrialised building systems specialist, Sarawak Consolidated Industries Berhad ("SCIB" or the "Company") is pleased to announce its unaudited financial results for the first quarter of the fiscal year 2025 (“Q1 FY2025”). The Company reported a revenue of RM45.1 million, marking a 14.5% year-on-year increase compared to RM39.4 million in Q1 FY2024. The growth in revenue is largely due to the increased recognition of construction works done from ongoing projects.Ku Chong Hong, Managing Director of SCIBAs for Q1FY2025, SCIB's Manufacturing division continues to play a pivotal role in the Company’s performance, contributing RM32.5 million to the total revenue, a 9.80% increase from RM29.6 million in Q1 FY2024. This growth was primarily driven by increased sales of foundation piles and Industrialised Building System (“IBS”) products, especially for major projects such as the Kuching Urban Transportation System (“KUTS”), the Sarawak Second Trunk Road (“STR”) and school projects in Sarawak.Profit Before Tax (“PBT”) for the manufacturing segment stood at RM3.8 million. Meanwhile, the Construction/Engineering, Procurement, Construction and Commissioning (“EPCC”) division reported revenue of RM12.6 million, an increase from RM9.8 million in the same quarter last year. However, the segment recorded a Loss Before Tax (“LBT”) of RM2.0 million due to unanticipated unrealised foreign exchange loss recognised. The division remains focused on delivering ongoing projects while exploring new opportunities for expansion.During the quarter, SCIB maintained its commitment to strengthening its financial foundation and broadening its project portfolio. The Company has secured a contract worth RM162.0 million for development and infrastructure works under the Program Perumahan Penjawat Awam (“PPAM”) in Mualim, Perak. Additionally, SCIB had recently acquired a 2.49-hectares land parcel at Bintulu Sibiu Road, Bintulu, for RM9.2 million, followed by another parcel of 7.3-hectares land in Jalan Bintulu-Sibu as part of its plan to collaborate with developers for residential housing projects that utilise SCIB’s high-quality products and industry expertise, while expanding SCIB’s products and services offering to serve the fundamental needs of the Sarawak market.Mr. Ku Chong Hong, Managing Director of SCIB, commented, “The results of Q1 FY2025 reflect the challenges of a dynamic economic environment. However, we remain steadfast in our commitment to strengthening the financial foundation of the Company. Besides targeting to secure projects consistently, the recent securing of financial facilities from SME Bank and the proposed private placement of 10.0% of SCIB’s total issued shares underscore our focus on enhancing our cash position and ensuring financial stability to support our operational and strategic initiatives."Looking ahead, SCIB remains optimistic about Malaysia’s construction sector, bolstered by the record allocation in Budget 2025 of RM421 billion, including RM86 billion for development expenditure. The RM5.9 billion allocated for Sarawak, aimed at upgrading public infrastructure such as schools, healthcare centres, and airports, as well as large-scale projects like the Sabah-Sarawak Link Road (“SSLR”) and the North Coastal Highway, aligns seamlessly with SCIB’s expertise and strategic direction. The Company is poised to leverage its manufacturing capabilities and strategic initiatives to secure a strong foothold in both local and regional markets, ensuring sustainable growth and long-term value for its stakeholders.ABOUT SARAWAK CONSOLIDATED INDUSTRIES BERHADSarawak Consolidated Industries Berhad (“SCIB”) was founded in 1975 and has evolved from a small enterprise into a reputable Group of companies listed on the Main Market of Bursa Malaysia Securities Berhad. Currently, SCIB is operating three factories in Kuching, Sarawak, one factory in the Pending Industrial Estate and two factories in the Demak Laut industrial park.SCIB is well known for professional management and has long history of innovative ideas and technological advances. Coupled with its wealth of experience and research acquired in more than three decades, SCIB offers its clients in-depth expertise through a combination of technology, efficiency and speed.For more information, visit scib.com.my.Issued By: Swan Consultancy Sdn. Bhd. on behalf of Sarawak Consolidated Industries BerhadFor more information, please contact:Jazzmin WanEmail: j.wan@swanconsultancy.bizStephanie ChowEmail: s.chow@swanconsultancy.biz Copyright 2024 ACN Newswire via SeaPRwire.com.
HONG KONG, Nov 27, 2024 - (ACN Newswire via SeaPRwire.com) - The Hong Kong Export Credit Insurance Corporation (HKECIC) and Hong Kong Trade Development Council (HKTDC) jointly released a research study today, titled "Unleashing the Lucrative Potential of Cross-border E-commerce for Hong Kong Traders". The study revealed that 90% of surveyed companies anticipated that cross-border e-commerce could drive significant sales growth in the business in the next two years. However, the market-related challenges continue to persist, including intense market competition, complex customs clearance procedures and the management of returns and refunds. In light of these challenges, experts recommend developing appropriate online marketing and sales strategies, enhancing risk management and adopting efficient logistics and delivery practices to better seize the opportunities presented by cross-border e-commerce.Mr Terence Chiu, Commissioner of HKECIC, said, “The joint research study of the HKECIC and the HKTDC helps the industry in gaining deeper understanding of the latest development in expanding cross-border e-commerce, as well as outlining the challenges faced by businesses and the support they needed. While cross-border e-commerce has seen a significant growth in recent years, the study highlighted that the market remains highly competitive, and the ecosystem and related infrastructure still require further improvement. In addition, many e-commerce businesses have limited assets and insufficient collateral to secure financing from traditional banks and financial institutions, reflecting the ongoing challenges in the e-commerce environment. This year, the HKECIC has collaborated with a fintech and a reinsurance company, and also a bank to develop bespoke trade credit insurance solutions, aiming to provide coverage for trade loans to Hong Kong e-commerce businesses. These initiatives encourage and support local enterprises in securing trade financing and expanding into cross-border e-commerce. The HKECIC will actively seek collaboration with more financial institutions, in line with the 2024 Policy Address, to better support Hong Kong businesses in securing e-commerce export financing. By leveraging its expertise in trade credit insurance and risk management, the HKECIC is dedicated to assisting Hong Kong businesses in maintaining their competitive edge, helping them explore new overseas markets, mitigate trade risks and reduce operating costs.”Dr Patrick Lau, HKTDC Deputy Executive Director, said, “E-commerce has become a key driver of the global economy. The World Bank estimates that global B2C e-commerce sales will reach US$6 trillion by 2024, with Mainland China leading the way – over a quarter of retail consumer goods sales occur online. In collaboration with the HKECIC, the study aims to help Hong Kong businesses explore new markets and seize opportunities. The HKTDC will continue to support local companies in engaging with e-commerce and taking advantage of growth opportunities on the global stage.”From June to August 2024, the HKECIC and the HKTDC conducted phone and online interviews with 352 local trade and manufacturing companies to assess the development of Hong Kong companies’ cross-border e-commerce operations, while also detailing the challenges they face and identifying the support services they require.Driving significant sales growth in the next two yearsAs network technology has become more widespread, while electronic payment services are now ubiquitous and e-commerce platforms have come to offer an ever-expanding range of services, even new entrants and smaller businesses can easily develop cross-border e-commerce operations on a global basis. 90.0% of surveyed companies anticipated that cross-border e-commerce could raise their total sales revenue in the next two years.The surveyed companies in general indicated that cross-border e-commerce positively impacts their expansion plans whether via broader sales channels (69.0%), new market opportunities (50.3%), or enhanced brand awareness (48.9%).Reaching out to global markets: Focusing on the Mainland and ASEANHKTDC Principal Economist Wing Chu, who led the study, said, “The scope of cross-border e-commerce business for Hong Kong companies spans all parts of the world, covering markets, such as Mainland China (75.2%), ASEAN (53.0%), the US (42.2%), Japan (30.9%) and the EU (30.0%). Looking ahead, respondents generally agreed that, for the next two years, Mainland China (61.6%) and ASEAN (44.3%) offer the greatest growth potential. The surveyed companies generally hope to make use of risk management to meet market competitiveness and the challenges outlined, such as insurance for cargo transportation or payments (39.8%), e-commerce promotion (34.4%) and logistics services for both delivery and product returns (33.5%).”Coping with online and offline challengesCross-border e-commerce operators must confront a variety of practical issues relating to both online and offline procedures, including goods delivery, platform charges, exchange rates and refunds as well as market, regulation and financing issues.Of the companies surveyed, 38.4% said that customs clearance procedures in Mainland China and foreign markets are complex, with 31.3% indicating that product returns involve complicated procedures and / high costs, and 29.8% finding it difficult to manage practical issues, such as the international delivery of small orders.Regarding the issues of platform charges, exchange rates and refunds, the high commission rates charged by third-party e-commerce platforms and long payment periods were identified as challenges by 51.1% of respondents. Meanwhile, 46.6% said fluctuating exchange rates or high exchange costs were problems they faced during their cross-border e-commerce operations. 28.4% were concerned about the expansive costs about refund policy.In addition, companies must contend with a wide range of difficulties. Majority of the surveyed companies (84.9%) noted that developing cross-border e-commerce presented market-related challenges, such as keen market competition. Meanwhile, 54% indicated regulatory issues, and 41.2% encountered financial challenges.Leveraging Hong Kong's advantages to unlock global e-commerce opportunitiesIn addition to the questionnaire, HKTDC also interviewed a number of companies engaged in cross-border e-commerce or related businesses. According to expert’s opinion, though the mainland market is huge in scale, the competition is keen. Overseas opportunities abound, such as the advanced economies of Europe and America have mature online shopping markets and e-commerce markets in Southeast Asia.In addition, online sales strategies tailored to target markets are of prime importance, including the collaboration with KOL or influencers and using short-form videos to attract consumers.The study also highlighted Hong Kong's excellent logistics capabilities and extensive air cargo network as well as its well-developed financial markets and diverse financing services, which are well-suited to meeting the financial needs of e-commerce. Meanwhile, Hong Kong serves as an ideal gateway for foreign products entering Mainland China, with the Hong Kong brand enjoying a competitive edge in the region.Photo download: https://bit.ly/3Bb95BADr Patrick Lau, Deputy Executive Director, HKTDC (left) and Terence Chiu, Commissioner, HKECIC (right)Dr Patrick Lau, Deputy Executive Director, HKTDC (second left); Terence Chiu, Commissioner, HKECIC (second right); Wing Chu, Principal Economist, HKTDC (first left); and Cynthia Chin, General Manager, HKECIC (first right)References- HKTDC Research Portal https://research.hktdc.com/en- Unleashing the Lucrative Potential of Cross-border E-commerce for Hong Kong Traders https://research.hktdc.com/en/article/MTg1OTQ2Mzk3MwAbout HKECICThe HKECIC was established in 1966 under the Hong Kong Export Credit Insurance Corporation Ordinance (Chapter 1115). Through the provision of export credit insurance services, the HKECIC protects Hong Kong exporters who trade on credit terms with overseas buyers against non-payment risks and helps them conduct export business in a prudent manner. The HKSAR Government provides a guarantee of HK$80 billion for HKECIC’s contingent liability.About HKTDCThe Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedInMedia enquiriesHKECICCorporate Communication DivisionTina NgTel: (852) 2732 9998Email: tina.ng@hkecic.comHKTDCCorporate Communication & Marketing DepartmentSharon HaTel: (852) 2584 4575Email:sharon.mt.ha@hktdc.orgYuan Tung Financial Relations LimitedLouise SongTel: (852) 3248 5691Email: lsong@yuantung.com.hk Copyright 2024 ACN Newswire via SeaPRwire.com.
