Construct Archives - Page 11 of 14

Sarawak Consolidated Industries Berhad Appoints Directors

Company redesignates Ku Chong Hong as Executive Director

Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) is pleased to announce the redesignation of Mr. Ku Chong Hong as Executive Director and the appointments of En. Mohd. Shakir bin Shahimi and En. Nuraiman Shaiful bin Annuar as Independent Non-Executive Directors (INED), effective today.

Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman

Mr. Ku, who was appointed to the board of directors on 17 March 2022 as an INED, has experience in audit and assurance, and business advisory-related fields through various local and international companies involved in a range of industries from property and construction to software.

En. Mohd. Shakir will replace Ku as chairman and member of the audit committee. A chartered accountant, he graduated with a degree in accountancy from Universiti Utara Malaysia and is a member of the Malaysian Institute of Accountants. He was an auditor with Arthur Andersen & Co and has experience auditing public-listed and privately-held companies. He is currently an audit manager with Khairuddin Hasyudeen & Razi. He is also an INED with Bintai Kinden Corporation Berhad, where he is chairman of the nomination, remuneration and risk management committees as well as member of the audit committee.

En. Nuraiman has attended the International Bachelor of Business Administration Programme from Hult International Business School, London United Kingdom in year 2017. He has experience in the oil and gas as well as construction fields. He holds directorships in Hipro Technologies Ltd and Petro Flanges and Fittings Sdn Bhd.

Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said, “We welcome En. Mohd Shakir and En. Nuraiman aboard and look forward to their guidance and advice. Their experience and knowledge will be a good addition to the board while enhancing our governance decision-making structure. We would also like to congratulate Mr. Ku in his redesignation as Executive Director. His insights and knowledge will be invaluable in helping us grow the Company.”

About Sarawak Consolidated Industries Berhad
Sarawak 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.

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

Shareholders of G Neptune Approved its Regularisation Plan

A key milestone for G Neptune’s proposed regularisation plan which includes amongst others, the proposed acquisition of Southern Score and a proposed private placement raising at least RM108.6 million

The non-interested shareholders of G Neptune Berhad have approved its proposed regularisation plan during the extraordinary general meeting (EGM) held today. The shareholders’ approval marks a key milestone for G Neptune’s proposed regularisation plan which is expected to address the Company’s Guidance Note 3 (GN3) status as well as return it to a stronger financial standing as well as profitability.

Peter Ling Sie Wuong, Independent Non-Executive Director; Cheah Hannon, Independent Non-Executive Director; Chai Tham Poh, Executive Director; and Dato’ Haji Mohd Amran Bin Wahid, Non Independent Non Executive Chairman from G Neptune Berhad; Tan Sri Datuk Seri Gan Yu Chai, MD; Datuk Sydney Lim Tai Chin, ED; and Gan Yee Hin, ED and CEO from Southern Score Sdn. Bhd. and Alvin Ooi, Acting Head of Corporate Finance of Kenanga Investment Bank Berhad [L-R]

Gan Yee Hin, Executive Director and Chief Executive Officer of Southern Score

An integral part of the approved regularisation plan is the proposed acquisition of the entire equity interest in Southern Score Sdn Bhd from Super Advantage Property Sdn Bhd for a purchase consideration of RM252.0 million to be satisfied through the issuance of 1.68 billion shares.

Southern Score is a construction management services company with a recorded net profit of RM6.51 million, RM19.20 million and RM35.18 million in the financial year ended 31 December 2019, 2020 and 2021 respectively. Super Advantage, being the vendor of Southern Score, has provided cumulative net profit guarantee of RM80.0 million over the three-year period from 2022 to 2024. Super Advantage is held by Tan Sri Datuk Seri Gan Yu Chai, the Managing Director of Southern Score, a veteran in the construction and property development industries with more than 30 years’ experience as well as Gan Yee Hin, the Executive Director and Chief Executive Officer of Southern Score.

Shareholders also approved to change the Company’s name to “Southern Score Builders Berhad”, a move undertaken by the Company to better reflect G Neptune’s new corporate identity moving forward.

Commenting on the shareholders’ approval, Gan Yee Hin said, “We would like to thank the shareholders for putting their trust and confidence in us. This is a key milestone towards the long-awaited completion of the regularisation plan. With the injection of Southern Score, we believe that G Neptune will be in a stronger financial standing and profitability, thereby benefiting all stakeholders.”

Other than the proposed acquisition and proposed change of name, shareholders also approved the following proposals which are part of the proposed regularisation plan:

proposed consolidation of every 10 existing G Neptune’s shares into one share;
proposed debt settlement amounting to RM3.1 million to Mr. Chai Tham Poh, an Executive Director of G Neptune, via the issuance of 20.67 million shares;
proposed private placement to raise at least RM108.6 million through the issuance of 543.05 million shares to investors to be identified later and;
proposed exemption from the obligation to undertake a mandatory takeover offer for the remaining G Neptune shares not already owned by Super Advantage as well as Tan Sri Datuk Seri Gan Yu Chai and Gan Yee Hin.

Gan Yee Hin added, “The shareholders’ approval obtained today heralds a new beginning for Southern Score as we gain a step closer towards obtaining a listing status via GNB. We intend to leverage on our listing status to further grow our business for which our shareholders will also be able to partake in. We expect Southern Score’s growth to be fuelled from growth in the construction sector where construction activities is expected to increase in tandem with economic growth following the reopening of the economy and country borders.”

Kenanga Investment Bank Berhad is the principal adviser and sponsor for the proposed regularisation plan as well as placement agent for the proposed private placement while Malacca Securities Sdn Bhd is the independent adviser for the proposed exemption.

G Neptune Berhad: 0045 [BURSA: GNB], https://www.gneptune.com/
Southern Score: https://southernscore.com.my/

DECOMAN from Hong Kong Utilizes Technologies to Go Global, Two More Markets in the APAC Region this year

HK DECOMAN Technology Limited (DECOMAN) is now expanding its footprint in Korea to capture the opportunities of growing demand for its services. With the Taiwan expansion begun in January, this is the second APAC market DECOMAN entered in 2022.

Coworking office shared between talented entrepreneurs and promising startups selected by KSGC

Recognized by Korean Government’s Accelerator Program
Out of 2,653 companies applying from 122 countries, DECOMAN is among the top 54 startups this year selected by K-Startup Grand Challenge (“KSGC”), a global startup accelerator program organized and financed by the Korean government, to enhance the local entrepreneurship ecosystem. As a KSGC participant, DECOMAN team has been utilizing the facilities and coworking spaces at the KSGC campus in Pangyo Techno Valley – a technology hub near Seoul, to build its K-network and foundation.

Support from International VC Firm
In addition to the guidance and opportunities that DECOMAN can gain from KSGC, California venture capital firm Pen Ventures also sails along the journey (read coverage here https://www.fnnews.com/news/202208160811387147 ) with DECOMAN by being its mentor and sharing its extensive network. In the coming months, DECOMAN will make solid progress in respect of its planned road map.

Proven Success in Taiwan Expansion
Earlier this year, DECOMAN has already entered Taiwan and debuted on the stage of SparkLabs Taipei DemoDay 6 (read coverage here https://meet-global.bnext.com.tw/articles/view/47581 ), kicking off its operation there and bringing innovation to the renovation market.

Expand despite the Pandemic
In 2021, DECOMAN received investments from international startup accelerator SparkLabs Taipei, and was invited to participate in SparkLabs Taipei DemoDay 6 in January 2022. DECOMAN has since been in discussion with several local investors to prepare for the next stages. As of now, the renovation-design matching service and “Deco Academy” courses have already been introduced to the locals. Notwithstanding the impacts of the pandemic, DECOMAN has made a strong foundation in Taiwan by recruiting Taiwanese staff to enable rapid executions adaptable to local lifestyles as well as concrete social media presence for content sharing.

About DECOMAN
DECOMAN is a fast-growing one-stop O2O renovation platform, aiming to disrupt the traditional renovation industry by bringing standardization, transparency, convenience and automation to the industry. DECOMAN does it all. With DECOMAN, homeowners no longer need to rely on risky and primitive ways to ascertain a company’s credibility and quality of service, nor do they need to worry about mastering a wide range of knowledge for a one-time project. DECOMAN has been backed by large players in the property industry and is currently valued at US$27M. (Visit our websites to know more – Hong Kong https://hkdecoman.com/; Singapore https://www.sgdecoman.com/; Taiwan https://twdecoman.com/; Macau https://modecoman.com/; Korea https://krdecoman.com/ko/)

For media enquiries, please contact
Pinky Hui at pinky_hui@hkdecoman.com

Aggresive in Global Market Expansion, PIS Meets BP, Shell, and Exxon in Singapore

Pertamina International Shipping (PIS) is increasingly targeting consumers in the international market. In addition to this expansion, PIS strives to continuously improve the quality and standard of service by exchanging knowledge and experiences with world energy companies.

PT Pertamina International Shipping (PIS), in cooperation with PIS Pte Ltd (PIS PL), hosted a sharing session with BP Singapore Pte. Limited, Shell International Eastern Trading Co (SIETCO), and ExxonMobil Asia Pacific Pte Ltd. The meeting was held at the offices of each energy company on August 24-25, 2022, in Singapore.

PIS, in cooperation with PIS Pte Ltd (PIS PL), hosted a sharing session with BP Singapore Pte. Limited, Shell International Eastern Trading Co (SIETCO), and ExxonMobil Asia Pacific Pte Ltd. The meeting was held at the offices of each energy company on August 24-25, 2022, in Singapore.

During the sharing session, PIS discussed vetting, inspection, and vessel acceptance or vessel examination and inspection. The event was attended by PIS Director of Operations Arief Kurnia Risdianto, PIS PL Managing Director Brilian Perdana, Crude and Gas Operation (CGO) Vice President Harris Abdi Sembiring, and PIS Loss Prevention Safety Quality (LPSQ) Manager Soleh Komaruddin.

BP Singapore Pte Ltd Vetting and Clearance Senior Manager, ExxonMobil Asia Pacific Pte Ltd Asia Pacific Supply Coordinator, ExxonMobil Asia Pacific Pte Ltd Mogas Lead, ExxonMobil Asia Pacific Pte Ltd Global Senior Marine Operations, SIETCO Mogas Operation Team Lead, SIETCO Head of Marine, SIETCO Senior Originator, and more were also in attendance at this meeting.

The meeting was also a PIS endeavor to escalate acceptance of its ships at the terminals of world energy participants such as BP, Shell, and Exxon to showcase the existence and quality of PIS in international settings. In the maritime and energy sectors, these companies are significant participants that dominate the tanker chartering market called the Seven Sisters.

PIS Director of Operations, Arief Kurnia Risdianto, explained PIS performance which has now explored 12 international routes. PIS ships have met international shipping standards, including the Paris MOU for sailing requirements on the European continent and a Certificate of Compliance from the United States Coast Guard (USCG).

“PIS is the largest tanker operator in Southeast Asia, currently operating around 439 vessels with extensive experience serving the domestic and regional market,” he said.

Experience of PIS in serving the regional market is recorded by many international customers, including Vitol, Petronas, Trafigura, BP, Badak LNG, ExxonMobil, Petrobras, Chevron, Saudi Aramco, Shell, and many more.

As the Integrated Marine Logistics Sub Holding of PT Pertamina (Persero), PIS business includes shipping, marine services, port services, port and jetty management (port ownership), storage tanks, and other related services.

PIS owns two VLCCs, namely, Pertamina Pride and Pertamina Prime, with a capacity of 2 million barrels and incurs the Eco-Green Vessel concept. The two VLCCs are tangible manifestations of PIS endeavor to lead the marine and logistics business in both domestic and international markets.

Besides oil and gas, PIS expands its business potential to various segments and cargo types, including petrochemicals with medium-range chemical-specific vessel assets called PIS Precious.

In the meantime, to comply with regional trading and improve its role in the global market, Tanjung Uban offers an integrated terminal managed by the PIS subsidiary.

PIS CEO Erry Widiastono said that the company has prepared a roadmap to support energy transition programs. “PIS will anticipate the future of vessels business, specifically the greener vessels. For example, vessels responsible for gas shipping such as LPG, LNG, and many others. In the future, we will anticipate the progress of the renewable energy sector,” said Erry.

About Pertamina International Shipping (PIS)

As the Integrated Marine Logistics Sub Holding, PT Pertamina International Shipping (PIS) consistently stimulates Indonesia’s economic growth through safe and sustainable operation, becomes a trusted and reliable maritime partner, and promotes value for the stakeholders in running their business. See https://pertamina-pis.com/.

Media Contact:
M Aryomekka Firdaus
Corporate Secretary
M: +62-811-872-272
E: aryomekka@pertamina.com

Sarawak Consolidated Industries Berhad Posts RM26.2 Million Revenue in 4Q

Company’s manufacturing division sees higher sales volume of foundation piles

Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Company recorded revenue of RM26.2 million for the fourth quarter ended 30 June 2022 mainly due to higher sales volume of foundation piles from the manufacturing division.

For the quarter under review, the Company registered a loss before tax (LBT) of RM45.9 million mainly due to net impairment loss in trade and other receivables of RM18.0 million as well as expenditure incurred in various project-related activities of RM25.0 million from the engineering, procurement, construction and commissioning (EPCC) division.

For the financial year ended 30 June 2022, the Company registered revenue of RM128.4 million and a LBT of RM52.0 million. There are no comparisons for the quarter and full financial year as the Company has changed the financial year-end from 31 December as previously announced to Bursa Malaysia Securities Berhad on 24 May 2021.

Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said, “We are cautiously optimistic as the domestic economy continues to improve with the 8.9% growth year-on-year for the second quarter ended 30 June 2022. The announcement of the RM50.0 billion MRT3 project and the continuation of other large civil infrastructure projects is also contributing positive impacts to the construction sector and businesses like ours as we will certainly leverage on our manufacturing and EPCC expertise to seek opportunities.”

“We have made inroads into Peninsular Malaysia focusing on small to mid-sized projects and we are exploring opportunities in Indonesia for the construction of 4G telecommunications infrastructure as well as how we can leverage our manufacturing facilities for the new Indonesian capital at Nusantara in Kalimantan. SCIB will continue to seek projects in Sabah and Sarawak in which RM5.2 billion and RM4.6 billion were allocated respectively under Budget 2022. We are also exploring the use of technologies such as the 3D printing system and automation as part of the next phase of growth in the construction industry.”

As of 30 June 2022, SCIB has an order book of RM1.52 billion with earnings visibility until 2026.

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

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

The Gen-1 specifications received a historical approval vote by ANSI / NEMA for a plug & play ceiling outlet/receptacle for safe installation of lighting and ceiling fans.

SKYX Platforms Corp. (NASDAQ:SKYX) (d/b/a Sky Technologies) (SKYX, we or the Company), a highly disruptive platform technology company with over 60 issued and pending patents globally for simplifying and enhancing safety and automation in homes and buildings, today announced the introduction of a demo video of its Gen-1 game-changing ceiling platform technology, the specifications of which just received a historical approval vote by ANSI / NEMA, the leading U.S. standardization organizations for homes, buildings and the electrical industry.

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

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

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

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

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

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

Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Our estimates of the addressable market for our products may prove to be incorrect. The projected demand for our products could materially differ from actual demand. Forward-looking statements speak only as of the date they are made and include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement of presales, the Company’s efforts and ability to drive the adoption of Sky’s Plug Smart Platforms into multi-family residential buildings and communities and adoption by hotels, ability to capture market share, ability to execute on any sales and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. In particular, the American National Standards Institute’s (ANSI) and the National Electrical Manufacturers Association’s (NEMA) vote for the standardization of the Company’s weight-bearing plug and outlet/receptacle for ceilings does not guarantee approval by the National Fire Protection Association’s (NFPA) Committee on the National Electrical Code (which consists of multiple code-making panels and a technical correlating committee and develops the National Electrical Code (NEC)) or any other trade or regulatory organization and does not guarantee that any of the Company’s products will become National Electrical Code (NEC)-code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all. There can be no assurance as to any of these matters. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

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

SOURCE: SKYX Platforms Corp. dba Sky Technologies

G Neptune Seeks Shareholders’ Approval to Acquire Southern Score, a construction Management Services Company, as part of its Proposed Regularisation Plan

The proposed acquisition is part of G Neptune’s proposed regularisation plan which also include, amongst others, at least RM108.61 million of fund-raising through a proposed private placement.
The vendor of Southern Score has provided a cumulative net profit guarantee of RM80.0 million over the three-year period from 2022 to 2024.

G Neptune Berhad is pleased to announce that its circular, which includes multiple proposals as part of its proposed regularisation plan, has been issued today. Upon completion, the proposed regularisation plan is expected to address its Guidance Note 3 (GN3) status as well as to return it to a stronger financial standing and profitability that will benefit all stakeholders.

Executive Director and Chief Executive Officer of Southern Score Gan Yee Hin and Executive Director and Head of Group Investment Banking & Islamic Banking of Kenanga Investment Bank Berhad Datuk Roslan Hj Tik [L-R]

The proposed regularisation plan includes amongst others, the proposed acquisition of the entire equity interest in Southern Score Sdn Bhd from Super Advantage Property Sdn Bhd for a purchase consideration of RM252.0 million to be satisfied through the issuance of 1.68 billion shares.

Southern Score is a construction management services company with a recorded net profit of RM6.51 million, RM19.20 million and RM35.18 million in the financial year ended 31 December 2019, 2020 and 2021 respectively. Super Advantage, being the vendor of Southern Score, has provided cumulative net profit guarantee of RM80.0 million over the three-year period from 2022 to 2024. Super Advantage is held by Tan Sri Datuk Seri Gan Yu Chai, the Managing Director of Southern Score, a veteran in the construction and property development industries with more than 30 years’ experience as well as Gan Yee Hin, the Executive Director and Chief Executive Officer of Southern Score.

Other than the proposed acquisition, the proposed regularisation plan also entails the following:

proposed consolidation of every ten existing shares in G Neptune into one consolidated share;
proposed settlement of debt amounting to RM3.1 million to Mr. Chai Tham Poh, an Executive Director of G Neptune, via the issuance of 20.67 million shares;
proposed private placement of 543.05 million shares at an issue price to be determined later but shall not be less than 20 sen per share to eligible investors to be identified later; and
proposed exemption under the take-over rules from the obligation to undertake a mandatory take-over offer for the remaining G Neptune shares not already owned by Super Advantage as well as Tan Sri Datuk Seri Gan Yu Chai and Gan Yee Hin.

Through the proposed private placement, G Neptune aims to raise at least RM108.61 million to be used for amongst others, the purchase of building materials and repayment to contractors for future construction projects, as well as for TCS SS Precast Construction Sdn Bhd (TSPC), a CIDB Grade 7 contractor in which Southern Score owns a 35% stake.

Additionally, to better reflect the Company’s corporate identity going forward, it is proposed that the Company name “G Neptune Berhad” be changed to “Southern Score Builders Berhad”.

Commenting on the proposed acquisition, Gan Yee Hin, said, “The proposed acquisition of Southern Score is an integral part of the regularisation plan as it will enable G Neptune to enter into the construction industry which is a thriving and growing industry. This will also help in regularising the Company’s financial condition as it currently does not have a core business to sustain its listing status. We expect Southern Score to benefit from the growth in the construction sector which is expected to be positive in 2022 following the reopening of Malaysia’s economy.”

“We also intend to venture into the manufacture of Industrialised Building Systems (IBS) products through TSPC as we see demand rising given that the construction sector is moving towards the adoption of IBS for better construction quality and productivity, less dependency on foreign labour as well as lower costs. Government initiatives are also supportive of this adoption.”

The proposed regularisation plan and the proposed change of name are subject to, amongst others, GNB shareholders’ approval at the forthcoming general meeting to be held on 13 September 2022.

Kenanga Investment Bank Berhad is the principal adviser and sponsor for the proposed regularisation plan as well as placement agent for the proposed private placement while Malacca Securities Sdn Bhd is the independent adviser for the proposed exemption.

G Neptune Berhad: 0045 [BURSA: GNB], https://www.gneptune.com/
Southern Score: https://southernscore.com.my/

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

SKYX Platforms Corp. (NASDAQ:SKYX) (d/b/a Sky Technologies) (SKYX, “we” or “the Company), a highly disruptive platform technology company, with over 60 issued and pending patents globally for simplifying and enhancing safety and automation in homes and buildings, today announced that its universal safe installation specifications for plug & play ceiling outlet for lighting and fan products has been officially voted on and approved by ANSI/NEMA, the leading U.S. standardization organizations for the standardization of the SKYX safe weight-bearing plug and outlet/receptacle for ceilings (SkyPlug).

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

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

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

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

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

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

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

Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Our estimates of the addressable market for our products may prove to be incorrect. The projected demand for our products could materially differ from actual demand. Forward-looking statements speak only as of the date they are made and include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement of presales, the Company’s efforts and ability to drive the adoption of Sky’s Plug Smart Platforms into multi-family residential buildings and communities and adoption by hotels, ability to capture market share, ability to execute on any sales and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. In particular, the American National Standards Institute’s (ANSI) and the National Electrical Manufacturers Association’s (NEMA) vote for the standardization of the Company’s weight-bearing plug and outlet/receptacle for ceilings does not guarantee approval by the National Fire Protection Association’s (NFPA) Committee on the National Electrical Code (which consists of multiple code-making panels and a technical correlating committee and develops the National Electrical Code (NEC)) or any other trade or regulatory organization and does not guarantee that any of the Company’s products will become National Electrical Code (NEC)-code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all. There can be no assurance as to any of these matters. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

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

SOURCE: SQL Technologies, Inc. dba Sky Technologies

Sarawak Consolidated Industries Berhad Signs MoU for Indonesian 4G Telco Tower Project

Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) has entered into a Memorandum of Understanding (MoU) with PT. Semesta Noor Berkarya (SNB) and PT. Envy Manajemen Konsultansi (EMK) to explore the formation of a partnership in relation to the construction of 4G telecommunications towers for Indonesia’s outermost regions.

Rosland bin Othman, Managing Director and Chief Executive Officer of SCIB

Under the MoU, SCIB will anchor the formation of the partnership as well as providing the corporate management setup. SNB, a state-owned enterprise of the Republic of Indonesia is an engineering, procurement and construction specialist with expertise in handing large-scale domestic projects, will build and install the 4G telecommunications towers, including site survey and acquisition as well as other supporting infrastructure works. EMK, which is involved in business advisory, consultation, project management and other corporate management activities, will provide project management services through operational and technical supervision.

The project, which comes under Indonesia’s Telecommunications and Information Accessibility Agency (Bakti), is expected to take three years to complete and involves the construction and installation of 4G telecommunications towers in 3,704 villages. Bakti is an agency under the Ministry of Communication and Information Technology tasked to provide the telecommunications network.

Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said, “We look forward to working with SNB and EMK on the project, which is part of the push to provide internet accessibility to Indonesia’s outermost, remote and underdeveloped areas as part of the country’s national digital transformation framework.”

“SCIB is at a distinct advantage for this project as more than 60% of the proposed sites of the 4G telco towers are located in Kalimantan in Indonesian Borneo, which provides optimal opportunities to synergise our business as our three factories are located in Kuching, Sarawak. The project supports our strategy to diversify geographically by seeking opportunities for our engineering, procurement, construction and commissioning (EPCC) business, and we will certainly take this opportunity to also explore roles in the building of Indonesia’s multibillion-dollar new capital at Nusantara.”

SCIB leverages on its manufacturing business producing building materials as well as Industrialised Building System (IBS) to complement the EPCC business. The Company is the largest precast and IBS manufacturer in East Malaysia with the capacity to produce 500,000 tonnes of building materials annually.

Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my

Bintai Kinden Signs MoU Exploring Opportunities in Middle East

Company’s sub-subsidiary, JMI, in talks with Jeddah, Saudi Arabia-based Nouveta to collaborate on M&E solutions and services for healthcare industry

Bintai Kinden Corporation Berhad, a building and industrial service engineering specialist, is pleased to announce that the Company’s sub-subsidiary, Johnson Medical International Sdn Bhd (JMI), has signed a memorandum of understanding (MoU) with Medical Renewable Care Company (MRC, or under its trade name known as Nouveta) to explore a collaboration providing mechanical and engineering (M&E) solutions and services to the healthcare industry of Saudi Arabia and future expansion in Dubai, United Arab Emirates (UAE).

Azri Azerai, Executive Director of Bintai Kinden

JMI specialises in the design, manufacture and installation of customized hospital support system equipment and provision of nursing home services. Nouveta, which is based in Jeddah, Saudi Arabia, provides healthcare-related products and services to doctors, hospitals and pharmacies.

Azri Azerai, Executive Director of Bintai Kinden said, “This MoU gives us the framework to explore in more concrete terms how JMI and Nouveta can collaborate further in Saudi Arabia and the UAE and leverage on the opportunities that can be found in these countries.”

“As a first step, we are looking to appoint Nouveta as JMI’s distributor in Saudi Arabia and secondly, we will study more on the commercial viability of providing M&E solutions and services in Dubai and the rest of the UAE that may encompass a wider market than just hospitals and pharmacies. We look forward to deepening the partnership with Nouveta.”

Ali Salem Alsubai, General Manager of Nouveta said, “We look forward to a fruitful relationship with JMI and Bintai Kinden. We believe that there are opportunities for us to leverage on and grow together.”

Bintai Kinden, which recorded a net profit of RM0.91 million in the quarter ended 31 March 2022 (Q4 2022) against a net loss of RM6.59 million in the corresponding Q4 2021, also recently formed a partnership with Marafie Industries Co to supply piping materials to oil and gas related companies in Saudi Arabia as well as securing a series of projects from Petro Flanges & Fittings Sdn Bhd to supply piping materials.

Bintai Kinden Corporation Berhad: 6998 [BURSA: BKC], http://bintai.com.my/