Daily Finance Archives - Page 10 of 40

Flexidynamic Sees Significant Turnaround in PBT by 277.62% for Q2 FY2024, Better Prospects Ahead

Flexidynamic Holdings Berhad (“Flexidynamic” or the “Company”), an established solutions provider for the rubber glove manufacturing industry, is pleased to announce its financial results for the second quarter ended 30 June 2024 (“Q2 FY2024”).

The Group recorded revenue of RM7.76 million for Q2 FY2024, reflecting a strategic shift as the Company capitalised on emerging opportunities in the recovering glove industry. While revenue showed a decline from RM13.30 million in the corresponding quarter of the previous year (“Q2 FY2023”), primarily due to the completion of significant overseas projects in the prior year. Flexidynamic saw a robust increase in demand for repair and maintenance services, system upgrades, and equipment enhancements from its existing customers. This signals a positive market sentiment and the beginning of a rebound in the glove manufacturing sector.

Profit before taxation (“PBT”) for Q2 FY2024 was RM0.91 million, slightly lower than the RM0.93 million recorded in Q2 FY2023. However, the Company’s continued focus on cost management and operational efficiency has ensured sustained profitability. Notably, Profit After Tax (“PAT”) soared to RM0.98 million, a significant improvement compared to a Loss After Tax (“LAT”) of RM0.55 million in the same quarter last year, driven by the recognition of deferred tax assets from customer downpayments.

The comparison with the immediate preceding quarter (“Q1 FY2024”) further highlights Flexidynamic’s positive trajectory. Revenue surged from RM4.75 million in Q1 FY2024 to RM7.76 million in Q2 FY2024, while PBT experienced a remarkable 501.32% increase, rising from RM0.15 million to RM0.91 million. This strong performance underscores the Company’s ability to navigate a challenging environment and capitalise on the recovery in the glove industry.

Mr. Tan Kong Leong, Managing Director of Flexidynamic, commented on the results: “The second quarter of FY2024 marks a significant period of recovery for Flexidynamic as the glove industry shows early signs of resurgence. While the global oversupply of gloves persists, particularly due to the excessive capacity expansion during the Covid-19 pandemic, we are optimistic about the long-term prospects of the industry. Increased hygiene awareness, especially in emerging markets with low glove consumption, is expected to drive demand. Our strategic focus on operational efficiency and cost management has allowed us to effectively leverage this recovery, leading to a substantial increase in profitability.”

He added, “In addition to our core operations, we are pleased to announce our recent venture into gamma radiation sterilisation services in collaboration with Gammatech. This initiative not only serves our existing customers in the glove industry but also opens up new opportunities in sectors such as pharmaceuticals, food processing, and packaging. By offering these services, we are poised to expand our market reach and deliver even greater value to our shareholders.”

Since its inception in 2012, Flexidynamic has firmly established itself in the rubber glove manufacturing industry. The strategic acquisition of Flexidynamic Engineering Co. Ltd. in Thailand in 2018 has expanded its presence across Southeast Asia, supported by operational offices in Malaysia and Thailand and a manufacturing facility in Banting, Malaysia. The Group has also diversified into infrastructure projects, including a recent RM12.4 million contract for the water treatment plant and water intake at Loji Rawatan Air Chupak, Jajahan Gua Musang, Kelantan, which is expected to contribute positively to earnings. Furthermore, with the Group’s planned provision of sterilisation services using gamma radiation through Gammatech, its 51%-owned subsidiary, Flexidynamic is set to serve not only its existing glove industry customers but also expand into pharmaceuticals, food processing, and packaging sectors, leveraging its expertise to drive sustained growth and diversification.

ABOUT FLEXIDYNAMIC HOLDINGS BERHAD

Founded in 2012, Flexidynamic Holdings Berhad has established itself as a pivotal solutions provider in the rubber glove manufacturing sector, with a significant market presence in countries like Vietnam, Indonesia, and Sri Lanka, supported by strategic offices in Malaysia and Thailand. From its inception focusing on chlorination systems for powder-free glove production, Flexidynamic has expanded its product range and geographical footprint, particularly after the strategic acquisition of Flexidynamic Engineering Co. Ltd. in Thailand in 2018. This acquisition bolstered its support for overseas operations, mainly in the Southeast Asia region. With a relentless focus on innovation and a strong support base, Flexidynamic Group is poised for further growth, leveraging its expertise to venture into new markets and sectors.

For more information, visit https://flexidynamic.com/.

Issued By: Swan Consultancy Sdn. Bhd. on behalf of Flexidyanmic Holdings Berhad

For more information, please contact:
Jazmin Wan
Tel: +60 17-289 4110
Email: j.wan@swanconsultancy.biz

William Yeo
Tel: +60 13-213 2103
Email: w.yeo@swanconsultancy.biz

AGAPE ATP Corporation Addresses Recent Corporate Exercise and Strategic Developments

AGAPE ATP Corporation (NASDAQ: ATPC) (“ATPC” or “the Company”), is pleased to announce a series of significant updates reflecting its ongoing commitment to growth and sustainability.

Effective today, ATPC will implement a 1-for-20 reverse stock split of its shares of common stock, as previously disclosed in filings with the Securities and Exchange Commission. This strategic action aims to increase the market price per share, thereby meeting NASDAQ’s continued listing standards and ensuring the Company’s position on a globally recognized exchange. Additionally, the number of authorised shares of common stock will be reduced from 1,000,000,000 to 50,000,000.

Beyond the reverse stock split, ATPC is advancing several strategic initiatives aimed at strengthening its position and providing value to shareholders. The Company is planning to launch new products expected to enhance its financial outlook and market presence. The recent partnership with B&H Intec Solution Sdn. Bhd, which led to the formation of ATPC Green Energy Sdn. Bhd., has lined up a promising pipeline in its green energy sector. This venture is an important step in expanding the Company’s capabilities in sustainable energy solutions, aligning with its broader goals of supporting environmental sustainability.

Furthermore, ATPC is actively expanding its offerings in the wellness and senior care sectors. Cedar ATPC Sdn. Bhd. is poised to introduce a range of new wellness services designed to meet the growing demand for health and wellness solutions. At the same time, Sweet Home Senior Living Care Centre Sdn Bhd continues to thrive, delivering high-quality care services to address the needs of an aging population. These initiatives underscore the Company’s commitment to enhancing the quality of life and supporting sustainable development, which are core pillars of its business strategy.

Financially, the Company remains on solid footing, with a strong balance sheet and sufficient liquidity to support ongoing and future initiatives. ATPC is also exploring new opportunities in both domestic and regional markets, particularly in the areas of Wellness and Green Energy, as part of its strategy for sustainable growth.

The Company recognises the concerns of its investors regarding the reverse stock split and wants to assure them that these actions are part of a broader strategy to ensure long-term stability and growth. While short-term market dynamics can be influenced by various factors, including geopolitical events and economic shifts, ATPC is confident in the underlying strength of the markets in which it operates and its strategic positioning within them. The management team is closely monitoring market conditions and remains prepared to take swift, decisive actions to protect and enhance shareholder value.

Solar District Cooling Group Berhad Aims to Raise RM45.09 Million from ACE Market IPO

Solar District Cooling Group Berhad (“SDCG”) is pleased to announce the launch of its prospectus for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). The IPO represents a significant milestone in the company’s growth trajectory, allowing SDCG to expand its operations and strengthen its market position in building management system (“BMS”) and solar thermal systems and energy saving services.

1. Mr. Chris Lai Ther Wei, Head of Capital Markets, Mercury Securities Sdn. Bhd.; 2. Mr. Chew Sing Guan, Managing Director, Mercury Securities Sdn. Bhd.; 3. Mr. Edison Kong, Managing Director, Solar District Cooling Group Berhad; and 4. Mdm. Eileen Liuk, Executive Director, Solar District Cooling Group Berhad[L-R]

Mr. Chris Lai Ther Wei, Head of Capital Markets, Mercury Securities Sdn. Bhd.
Mr. Chew Sing Guan, Managing Director, Mercury Securities Sdn. Bhd.
Mr. Edison Kong, Managing Director, Solar District Cooling Group Berhad
Mdm. Eileen Liuk, Executive Director, Solar District Cooling Group Berhad[L-R]

SDCG and its subsidiaries (“Group”) are principally involved in the provision and maintenance of BMS, solar thermal systems and energy saving services. The Group has a proven track record of enhancing energy efficiency across healthcare, hospitality and industrial sectors. SDCG Group is involved in providing energy performance services to the concession companies that are providing hospital support services for public hospitals. The concessionaires engaged SDCG Group as a subcontractor to carry out energy efficiency work related to the installation of hybrid solar thermal hot water systems, and for some contracts, retrofitting of fluorescent lighting of LED lighting.

1. Mr. Wong Kei Fai, Independent Non-Executive Director, Solar District Cooling Group Berhad; 2. Ms. Wong Poh May, Independent Non-Executive Director, Solar District Cooling Group Berhad; 3. Mr. Chris Lai Ther Wei, Head of Capital Markets, Mercury Securities Sdn. Bhd.; 4. Mr. Chew Sing Guan, Managing Director, Mercury Securities Sdn. Bhd.; 5. Mr. Edison Kong, Managing Director, Solar District Cooling Group Berhad; 6. Mdm. Eileen Liuk, Executive Director, Solar District Cooling Group Berhad; 7. Ir. Dr. Khairul Azmy Bin Kamaluddin, Independent Non-Executive Chairman, Solar District Cooling Group Berhad and 8. YM Raja Nor Azlina Binti Raja Azhar, Independent Non-Executive Director, Solar District Cooling Group Berhad

Mr. Wong Kei Fai, Independent Non-Executive Director, Solar District Cooling Group Berhad
Ms. Wong Poh May, Independent Non-Executive Director, Solar District Cooling Group Berhad
Mr. Chris Lai Ther Wei, Head of Capital Markets, Mercury Securities Sdn. Bhd.
Mr. Chew Sing Guan, Managing Director, Mercury Securities Sdn. Bhd.
Mr. Edison Kong, Managing Director, Solar District Cooling Group Berhad
Mdm. Eileen Liuk, Executive Director, Solar District Cooling Group Berhad
Ir. Dr. Khairul Azmy Bin Kamaluddin, Independent Non-Executive Chairman, Solar District Cooling Group Berhad
YM Raja Nor Azlina Binti Raja Azhar, Independent Non-Executive Director, Solar District Cooling Group Berhad

Following the IPO exercise, SDCG is expected to raise RM45.09 million via the issuance of 118.67 million shares at the issue price of RM0.38 per share. The proceeds will be allocated in the following manner:

RM1.90 million for the expansion of headquarters in Kajang, Selangor;
RM5.00 million for tender bonds and/or performance bonds for future projects;
RM18.70 million for the purchase of materials for BMS segment, and solar thermal systems and energy-saving services segment;
RM12.67 million for general working capital;
RM2.52 million for capital expenditure, including new equipment for BMS, installation and maintenance of solar thermal hot water systems, and purchasing ICT software and services; and
RM4.30 million for estimated listing expenses.

Applications for the IPO will open at 10:00 a.m. today, following the prospectus launch, and will close on 6 September 2024. SDCG is scheduled to list on the ACE Market on 19 September 2024. At the IPO price of RM0.38 per share, the market capitalisation of the company upon listing will be RM161.05 million.

Managing Director of SDCG, Mr. Edison Kong commented, “This IPO represents a significant milestone in Solar District Cooling Group Berhad’s journey. Since 2008, we have been driven by a commitment to innovation, efficiency, and sustainability. Our focus on delivering Building Management Systems and solar thermal technologies has helped us enhance energy efficiency and promote environmental stewardship. With this listing, we look forward to embracing new opportunities and setting new standards in our business. I am deeply grateful to our team, clients, and partners for their continued trust and support.”

Head of Capital Markets of Mercury Securities Sdn Bhd, Mr. Chris Lai Ther Wei stated, “We would like to congratulate the Board and the entire team of Solar District Cooling Group Berhad on the successful launch of your IPO prospectus. Well done for reaching another milestone in your corporate journey.”

Mercury Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent for SDCG.

MClean Technologies Reports Strong 177% Growth in Profit Before Tax for Q2 FY2024

MClean Technologies Berhad (“MClean Technologies” or the “Company”), an established provider of precision cleaning and surface treatment solutions, is pleased to announce its financial results for the second quarter ended 30 June 2024 (“Q2 FY2024”). The Company has recorded its second consecutive profitable quarter in the financial year ending 31 December 2024 (“FY2024”), marking a significant turnaround in its financial performance.

Datuk Dr. Terence Tea Yeok Kian, the Executive Chairman and Managing Director of MClean Technologies BerhadFor Q2 FY2024, MClean Technologies reported revenue of RM15.5 million, a 30% increase compared to RM12.0 million in the same quarter last year (“Q2 FY2023”). This increase in revenue is largely attributed to stronger demand for the Company’s precision cleaning and surface treatment services. Notably, the Company achieved a profit before tax (“PBT”) of RM1.0 million, a substantial improvement from the loss before tax of RM1.1 million in Q2 FY2023, due to higher revenue in the current quarter and the successful implementation of cost management initiatives.Comparing to the immediate preceding quarter (“Q1 FY2024”), MClean Technologies recorded an 18% growth in revenue from RM13.1 million to RM15.5 million, driven primarily by increased demand for its precision cleaning services. In tandem with this revenue growth, the PBT of the Company surged by 177% in Q2 FY2024, compared to RM0.4 million PBT in Q1 FY2024.For the first six months of FY2024 (“6M FY2024”), MClean Technologies reported revenue of RM28.7 million, a 19% increase compared to RM24.0 million in the same period last year (“6M FY2023”), primarily due to stronger demand for precision cleaning and surface treatment services. The Company’s PBT for 6M FY2024 stood at RM1.3 million, marking a remarkable turnaround from the loss before tax of RM2.2 million in the corresponding period of FY2023. This growth underscores the consistent demand for MClean’s services, particularly in the Hard Disk Drive (HDD) and consumer electronics sectors.With the entry of the new substantial shareholder, Accrelist Crowdfunding Pte. Ltd., a wholly-owned subsidiary of Accrelist Ltd. (“Accrelist”), on 2 July 2024, which currently holds 28.5% stake in MClean Technologies, MClean Technologies aims to leverage on the strategic partnership opportunity that is presented by Accrelist’s extensive expertise in business transformation and growth.Accrelist, listed on the Catalist Board of the Singapore Exchange, is a diversified group with interests in medical aesthetics and injection moulding services, held through its subsidiary, Jubilee Industries Holdings Ltd, which is also listed on the Catalist. With the entry of this new shareholder, MClean Technologies is exploring various synergistic strategies to increase market share, expand customer and sector opportunities, and deepen cost-efficiency efforts through enhanced expertise and talent resource utilisation.Datuk Dr. Terence Tea Yeok Kian, Executive Chairman and Executive Director of MClean Technologies said, “We are very pleased with our performance in the second quarter of 2024, which marks our second consecutive profitable quarter in the current financial year. The strong financial results reflect the hard work and dedication of our team, as well as the strategic decisions we have made to enhance operational efficiency. The successful turnaround of the company demonstrates our commitment to building sustainable growth and profitability. Our focus remains on sustaining this positive momentum and achieving long-term profitability. We are particularly encouraged by the growth in demand for our HDD solutions in Malaysia and Thailand, and we will continue to leverage our strengths to deliver value to our shareholders.”Looking ahead, MClean is dedicated to maintaining its positive momentum and focusing on long-term profitability. The management team is confident that the Company’s strategic initiatives, combined with ongoing cost management efforts, will position MClean for continued success in the quarters to come.As of 27 August 2024, the share price of MClean Technologies had closed at RM0.29 as at 5:00 P.M., representing a market capitalisation of RM57.2 million.This press release should be read in conjunction with the full text of the announcement released by MClean Technologies on 27 August 2024 in relation to its interim financial statements for the quarter and six months ended 30 June 2024 which is available on the Bursa website.ABOUT MCLEAN TECHNOLOGIES BERHADMClean Technologies Berhad, is a leading provider of surface treatment, precision cleaning, and packaging services. The Company serves a diverse range of industries, including Hard Disk Drive, Consumer Electronics, and Oil & Gas. With operations in Malaysia, Singapore, and Thailand, MClean is committed to delivering high-quality and reliable services to its clients. For more information, visit http://www.mclean.com.sg/.For more information, please contact:Jazzmin WanTel: +60 17-289 4110Email: j.wan@swanconsultancy.bizStephanie ChowTel: +60 18-314 3933Email: s.chow@swanconsultancy.biz

Hektar REIT’s Q2 Realised Net Income Up 42.8% Backed by Enlarged and Diversified Asset Portfolio

Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (“Hektar REIT”) is pleased to announce the second quarter results for the financial year ending 30 June 2024 (“Q2 FY2024”), highlighting a significant improvement in financial performance driven by new revenue contribution from Kolej Yayasan Saad and effective operational management.

Sabrina Halim, Chief Operating Officer of Hektar Asset Management

In Q2 FY2024, Hektar REIT reported revenue of RM36.6 million, an increase of 34.4% compared to RM27.2 million in the preceding year’s corresponding quarter (“Q2 FY2023”) largely attributed to the rental income recognised from its newly acquired education asset, Kolej Yayasan Saad (“KYS”). Net Property Income (“NPI”) increased by 33.7% from RM15.5 million to RM20.7 million, and Net Realised Income surged by 42.8% to RM9.9 million in Q2 FY2024.

Hektar REITSummary of Financial Results for 2Q24Q2’ 2024RM’000Q2’ 2023RM’000Variance%Total Revenue36,55727,20734.4Nei Property Income (“NPI”)20,71315,42733.7Net Realised Income9,9336,95642.8

The quarter under review saw an encouraging rental reversion rate across all Hektar Malls with overall rental reversion recorded at 6.4%. On its tenancy expiry profile, a total of 28 renewals and new tenancies were secured which make up to 3.2% of the portfolio’s net lettable area. Cumulatively, a total of 62 renewals and new tenancies representing 259,676 sf of 12.7% of its retail portfolio’s net lettable area have been completed to-date with other expiring tenancies are currently in advanced negotiations stage, on track for conclusion by year-end.Supported by the strong financial performance, the Manager of Hektar REIT has declared an interim income distribution of 1.9 sen per unit for Q2 FY2024, totalling RM13.4 million. This translates to an annualised dividend yield of 6.4% based on the closing price of RM0.595 on 28 June 2024. The Income Distribution Reinvestment Plan (“IDRP”) will be applied, allowing unitholders to reinvest their dividends into new units. Unitholders are presented with this option to enhance their investments in Hektar REIT, in alignment to Hektar REIT’s capital growth and preservation objectives.As at Q2 FY2024, the overall occupancy rate at Hektar Malls was recorded at 87.2%. On the other hand, secured occupancy rate has further improved to 89.3% with tenants committed to open their doors to customers in the coming quarters. The encouraging numbers resulted from Hektar REIT’s enhance leasing strategies, continuous Asset Enhancement Initiatives (“AEI”) together with the strong retail industry outlook for the remaining half of 2024.To further extract values from its portfolio of retail assets, the Manager’s focus remains to be on Subang Parade’s overall repositioning. Urban Agenda Design Sdn Bhd was recently appointed as the lead architect for the rejuvenation project which covers Subang Parade’s interior and exterior facelifts to be implemented over three (3) years. Urban Agenda Design Sdn Bhd is an experienced party with extensive redevelopment portfolio ranging from REX KL, Semua House, The Five and Maximin Office (PJ). The management foresees improved occupancy levels, positive rental reversions, property valuation and increase in visitor traffic post-renovation works. The project is currently at the detailed design stage with the actual works on-site targeted to commence by Q1 2025.Sabrina Halim, Chief Operating Officer of Hektar Asset Management Sdn. Bhd. commented, “The positive results derived from the successful acquisition of our first non-retail asset marks a significant milestone in our diversification strategy. This strategic move not only broadens our portfolio but also enhances our resilience against market fluctuations. We believe that diversifying our asset base with high-quality, income-generating properties will provide a more stable revenue stream and reduce our dependency on retail assets alone.”She further added, “As we move forward, we are actively exploring further accretive opportunities that align with our long-term growth objectives, ensuring that we continue to deliver sustainable and attractive returns to our unitholders. Our commitment to optimising our asset portfolio and implementing prudent capital management practices will drive Hektar REIT’s growth and position us strongly in an increasingly competitive market environment.”The Manager recently announced the intention to double Hektar REIT’s portfolio size to RM3 billion by 2027. Presented by various opportunities, the Manager is carefully appraising the prospects for their financial feasibility, strength of income stream, growth potential and contribution to the portfolio’s blended returns. With a target of having a well-balanced portfolio, the Manager is focusing on its core which is underserved retail assets with value creation potential, while also eyeing for resilient assets such as education properties within the K-12 segment and light industrial properties. Meanwhile, the Manager is continuously enhancing the leasing and marketing initiatives at Hektar Malls, with pockets of minor AEIs implemented on-site to further enhance the value propositions of the shopping centres.ABOUT HEKTAR REAL ESTATE INVESTMENT TRUSTHektar Real Estate Investment Trust (“Hektar REIT”) is Malaysia’s first listed retail-focused REIT. The primary objectives of Hektar REIT are to provide unitholders with sustainable dividend income and to achieve a long-term capital appreciation of the REIT. Hektar REIT was listed on the Main Market of Bursa Malaysia Securities Berhad on 4 December 2006 and currently owns 2 million square feet of retail space in 4 states with assets valued at RM1.2 billion as at 31 December 2023. Hektar REIT is managed by Hektar Asset Management Sdn Bhd and the property manager is Hektar Property Services Sdn Bhd. Hektar REIT’s portfolio of diversified properties includes Subang Parade in Subang Jaya, Selangor; Mahkota Parade and Kolej Yayasan Saad in Melaka; Wetex Parade & Classic Hotel in Muar, Johor; Central Square in Sungai Petani, Kedah; Kulim Central in Kulim, Kedah and Segamat Central in Segamat, Johor. For more information, please visit www.HektarREIT.comFor more information or inquiries, please contact:

Hektar Asset Management Sdn BhdD1-U3-10, Solaris DutamasNo 1, Jalan Dutamas 150480 Kuala LumpurMalaysia Investor RelationsTel: +603 6205 5570Fax: +603 6205 5571Email: ir@HektarREIT.comWeb: www.HektarREIT.com

EPB Group Berhad Debut on the ACE Market with a 16.07% Premium Opening Price of RM0.65

EPB Group Berhad (“EPB”), and its group of companies (the “Group”), an established one-stop food processing and packaging machinery solutions provider, proudly made its debut today on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”). The shares opened at RM0.65 per share, representing a significant 16.07% premium over the IPO price of RM0.56 per share.

1. Ms. Tan Poh Lin, Senior Vice President of Malacca Securities Sdn. Bhd.
2. Mr. Fok Chuan Meng, Head of Dealing of Malacca Securities Sdn. Bhd.
3. Mr. Stephen Chua Chee Keong, Independent Non-Executive Director
4. En. Noor Azman Bin Nordin, Independent Non-Executive Chairman
5. Mr. Liew Meng Hooi, Deputy Managing Director of EPB Group Berhad
6. Mr. Yeoh Chee Min, Managing Director of EPB Group Berhad
7. Ms. Ooi Kim Kew, Executive Director of EPB Group Berhad
8. Mr. Khor Chai Tian, Independent Non-Executive Director of EPB Group Berhad
9. Mr. Ooi Hun Pin, Independent Non-Executive Director of EPB Group Berhad
10. Mr. Wong Yoke Nyen, Director of WYNCORP Advisory Sdn, Bhd.[L-R]

EPB is listed under the stock name “EPB” with the stock code “0317”.

Specialising in the design, customisation, fabrication, integration, and automation of production lines, the Group is a recognised leader in the food processing and packaging machinery industry. The Group’s innovative technologies and dedication to operational efficiency have been crucial in enhancing the quality of food processing and packaging solutions, supporting clients’ environmental, social, and governance (“ESG”) goals, including improving operational efficiency and product quality.

The successful initial public offering of EPB raised RM40.08 million from the Public Issue, which will be allocated for the following: –

RM24.60 million towards factory expansion, including acquisition of land, construction of factory, and purchase of machinery;
RM3.00 million for the repayment of bank borrowings;
RM8.48 million for working capital purposes; and
RM4.00 million for listing expenses.

En. Noor Azman Bin Nordin, Independent Non-Executive Chairman, stated: “We are deeply appreciative of the overwhelming response to our IPO. This significant occasion marks a milestone for EPB, reflecting the hard work and dedication of our team and the market’s confidence in our vision and strategy. The increasing demand for automation and advanced machinery in the food processing and packaging sectors presents tremendous opportunities for us. With our listing, EPB is well-positioned to drive growth and innovation. Our plans include expanding our business footprint in Penang by building a new corporate office and a factory to enhance our production capabilities and provide additional warehousing space to meet future demand. We look forward to leveraging these opportunities to deliver greater value to our stakeholders.”

Ms. Lim Chia Wei, Managing Director of Malacca Securities Sdn. Bhd., shared: “The successful listing of EPB Group Berhad marks an important milestone for the company and highlights the strong prospects of the industry. The sector continues to evolve with increasing consumer demand for high-quality, efficient automated solutions for food processing and packaging. Concurrently, EPB Group’s strategic focus on technological advancements and customisation uniquely positions it to capitalise on these trends. We are excited to support EPB Group in leveraging these opportunities to drive growth and innovation in the food processing and packaging machinery industry.”

Malacca Securities Sdn. Bhd. is the Principal Adviser, Sponsor, Underwriter and Placement Agent, and WYNCORP Advisory Sdn. Bhd. is the Corporate Finance Adviser of EPB Group Berhad.

About EPB Group Berhad and its group of companies (“EPB Group”)

Since EPB Group Berhad (“EPB”) and its group of companies (the “Group”) inception in 1992, EPB Group has established itself as an experienced player in the food processing and packaging machinery industry in Malaysia. Starting with trading manual packaging machines, EPB Group has grown and diversified its offerings to include comprehensive solutions such as the design, customisation, fabrication, integration, and automation of production lines specifically for the food manufacturing and processing sectors. Additionally, EPB Group has expanded into trading of cellulose casings and manufacturing and trading of flexible packaging materials, enhancing its portfolio to cater to the dynamic needs of the food industry. Known for its dedication to innovation, customer-centric solutions, and operational excellence, EPB Group continues to strengthen its position in the market, driven by a commitment to advancing food processing and packaging technologies and expanding its presence both locally and regionally. For more information, visit https://epb.group/

Issued By: Swan Consultancy Sdn. Bhd. on behalf of EPB Group Berhad

For more information, please contact:
Jazzmin Wan
Tel: +60 17-289 4110
Email: j.wan@swanconsultancy.biz

Xinyi Ching
Tel: +60 19-337 9099
Email: x.ching@swanconsultancy.biz

H World Group Ltd announces Q2 and Interim 2024 Financial Results

H World Group Limited (H World or the Group, NASDAQ: HTHT and HKEX: 1179.HK) announced its unaudited financial results for the second quarter (Q2 2024) and interim period ended June 30, 2024.

In the first half of the year, revenue increased by 14.1% year-over-year, with second quarter revenue growth slightly exceeding the upper limit of guidance.

H World continues to prioritize customer-centricity, continuously improving the quality of its products and services, leading the industry toward high-quality development. In the first half of 2024, the Group achieved revenue of RMB 11.4 billion (approximately USD 1.6 billion), a 14.1% increase compared to the first half of 2023. Of this, revenue from H World’s business in China(Legacy-Huazhu) was RMB 9.1 billion, a year-on-year increase of 14.3%, while revenue from Huazhu International (Legacy-DH or DH) was RMB 2.4 billion, up 13.7% year-on-year, with growth in both domestic and international revenue. In the second quarter of 2024, the Group continued to expand its hotel network, achieving revenue of RMB 6.1 billion (approximately USD 846 million), a quarter-on-quarter increase of 16.5% and a year-on-year increase of 11.2%, reaching the upper limit of the previously announced guidance of 7% to 11% growth compared to Q2 2023.

On the profitability front, in the first half of 2024, the Group generated an income from operations of RMB 2.6 billion (approximately USD 354 million), representing a year-on-year increase from RMB 2 billion in the first half of 2023. In Q2 2024, income from operations was RMB 1.6 billion (approximately USD 216 million), compared to RMB 1.4 billion in the second quarter of 2023 and RMB 1 billion in the previous quarter. In addition to the growth in both revenue and income from operations, the Group has also improved its profitability through the asset-light expansion strategy. In the first half of 2024, the Group’s operating margin (defined as income from operations as a percentage of revenue) was 22.5%, up 2 percentage points from 20.5% in the first half of 2023. In the second quarter of 2024, the operating margin was 25.6%, an increase from 25.0% in the second quarter of 2023 and 19.0% in the previous quarter, indicating continued optimization of profitability.

In the second quarter of 2024, the Group earned a net income attributable to H World Group Limited of RMB 1.1 billion (approximately USD 147 million), compared to RMB 1 billion in Q2 2023 and RMB 659 million in the previous quarter. In order to more effectively reflect the profitability of the Group’s core business, adjusted EBITDA (non-GAAP) is used as a measure. In the second quarter of 2024, the Group recorded an adjusted EBITDA (non-GAAP) of RMB 2 billion (approximately USD 280 million), compared with RMB 1.8 billion in the second quarter of 2023 and RMB 1.4 billion in the previous quarter, with both year-over-year and quarter-over-quarter growth.

Operational Efficiency Improves Quarter-over-Quarter, Strong Brand Appeal

In the second quarter of 2024, Legacy-Huazhu’s blended revenue per available room (RevPAR) for leased, owned, manachised and franchised hotels was RMB 244, with an average daily room rate (ADR) of RMB 296 and an occupancy rate (OCC) of 82.6%. In the previous quarter, these figures were RMB 216, RMB 280, and 77.2%, respectively, while in the same period last year, they were RMB 250, RMB 305, and 81.8%. In the second quarter of 2024, all three key operational indicators for Legacy-Huazhu showed quarter-on-quarter increase. Compared to the same period last year, although RevPAR saw a slight decline of 2% due to a high base from the previous year, with 567 new hotels opened in China during the second quarter of 2024 , the Group has kept a steady pace of openings while achieving a year-over-year increase of 0.7 percentage points in occupancy rate, reflecting strong market recognition and the Group’s robust brand appeal. The combination of new openings and rising occupancy rates will maintain the Group’s advantageous position in market competition.

For Legacy-DH, the blended RevPAR for leased as well as manachised and franchised hotels (excluding hotels temporarily closed) was €82, with an ADR of €120 and an OCC of 68.3%. In the previous quarter, these figures were €58, €104, and 55.8%, while in the same period last year, they were €78, €117, and 67.1%. In Q2 2024, all three key operational indicators for Legacy-DH showed improvements both quarter-over-quarter and year-over-year, with continuous progress in the Group’s overseas business and continuous enhancement of operational efficiency.

Accelerated Expansion of Hotel Network, Upgraded Full Year Hotel Opening Guidance for 2024

In terms of hotel openings, H World’s hotel network is steadily expanding. As of June 30, 2024, the Group operates a total of 10,286 hotels worldwide, with Legacy-Huazhu having 10,150 operating hotels and Legacy-DH having 136 operating hotels. H World and Legacy-Huazhu reached the remarkable milestone of 10,000 hotels in the second quarter, opening a new chapter for the group. H World has now grown from over 10,000 hotels in more than 1,000 cities to over 20,000 hotels in more than 2,000 cities, achieving high-quality expansion of its hotel network, which signifies a new starting point for its “Thousand Cities, Ten Thousand Hotels 2.0” strategy.

At the same time, Legacy-Huazhu will continue to focus on product upgrades, excellent service, and membership programs to enhance the competitive advantage of the H World and promote sustainable growth in average revenue per available room. In terms of overseas business, the group is keen to expand its global footprint and transfer Legacy-DH into a more asset-light model.

As of June 30, 2024, the Company has 3,294 hotels under development, including 3,266 for Legacy-Huazhu and 28 for Legacy-DH. Additionally, the group announced an upward revision of its guidance for hotel openings in 2024, expecting to open over 2,200 hotels, up from the previous guidance of 1,800, further expanding its hotel network.

Dividends and Buybacks Reflect Corporate Confidence; Positive Outlook for the Hotel Industry

On July 23, 2024, the board of directors of H World announced a three-year shareholder return plan effective immediately, which may distribute up to a total of $2 billion to the group’s shareholders. It also approved a five-year share repurchase plan for American Depositary Shares, effective from August 21, 2024, with a maximum total amount of $1 billion. Notably, this share repurchase plan replaces the previous plan approved and adopted on August 21, 2019, with a maximum total amount of $750 million. The increased dividend and share repurchase total reflect the group’s confidence in its long-term development.

H World is a significant player in the global hospitality industry. The main reason is that Chinese hotels have a strong industry background due to the fact that they have the world’s largest tourist population and diverse forms of tourism. According to official statistics, in the first half of 2024, the passenger volume of railway and domestic flights was 2.096 billion and 350 million, respectively, representing year-on-year growth of 18.4% and 23.5%; the Ministry of Culture and Tourism of China also reported that the number of tourists during the Labour Day Holiday has returned to a level 28% higher than that of 2019. With the follow-up publicity and promotion of cultural tourism across different regions, residents’ willingness to travel has become stronger. In terms of cross-border travel, inbound tourism is gaining popularity under the “China Travel” trend. Statistics from the National Immigration Administration of China shows that in the first half of the year, 14.635 million foreign visitors entered the country from various ports, a year-on-year increase of 152.7%; the China Tourism Academy also predicts that the number of outbound tourists will reach 130 million in 2024. Overall, consumer enthusiasm for travel is expected to continue to rise in the second half of the year, and the recovery of the macroeconomy will bring more business travel demand, indicating a promising outlook for the hotel industry.

About H World Group Limited

Originated in China, H World Group Limited is a key player in the global hotel industry. As of June 30, 2024, H World operated 10,286 hotels with 1,001,865 rooms in operation in 18 countries. H World’s brands include Hi Inn, Elan Hotel, HanTing Hotel, JI Hotel, Starway Hotel, Orange Hotel, Crystal Orange Hotel, Manxin Hotel, Madison Hotel, Joya Hotel, Blossom House, Ni Hao Hotel, CitiGO Hotel, Steigenberger Hotels & Resorts, MAXX, Jaz in the City, IntercityHotel, Zleep Hotels, Steigenberger Icon and Song Hotels. In addition, H World also has the rights as master franchisee for Mercure, Ibis and Ibis Styles, and co-development rights for Grand Mercure and Novotel, in the pan-China region.

H World’s business includes leased and owned, manachised and franchised models. Under the lease and ownership model, H World directly operates hotels typically located on leased or owned properties. Under the manachise model, H World manages manachised hotels through the on-site hotel managers that H World appoints, and H World collects fees from franchisees. Under the franchise model, H World provides training, reservations and support services to the franchised hotels, and collects fees from franchisees but does not appoint on-site hotel managers. H World applies a consistent standard and platform across all of its hotels. As of June 30, 2024, H World operated 10 percent of its hotel rooms under the lease and ownership model, and 90 percent under the manachise and franchise model.

For more information, please visit H World’s website: https://ir.hworld.com.

For enquiry, please contact Intelligent Joy Limited:

Kathy Lu / Ken Wu

TEL +(852) 52413533 / (86) 15607493246

E-MAIL kathy.lu@intelligentjoy.com / ken.wu@intelligentjoy.com

AsiaMedic continues growth streak with 23% increase in revenue for First Half ended 30 June 2024

SGX Catalist-listed AsiaMedic Limited (the “Company” and together with its subsidiaries, the “Group”) announced its financial results for the financial period ended 30 June 2024 (“1H2024”).

The Group’s 1H2024 revenue increased by S$2.4 million or 23% from S$10.7 million for 1H2023 to S$13.2 million due to the increase in revenue from the imaging and aesthetic businesses. The increase follows three consecutive years of revenue growth as the Group continues to pursue further capacity expansion to serve more patients.The increase in revenue from the diagnostic imaging business was primarily due to the addition of a third MRI scanner in the last quarter of 2023 while the increase in revenue from the aesthetics business was due to the engagement of a senior aesthetic doctor and the acquisition of the medical aesthetics business of LE Private Clinic in August 2023.The set-up of the new diagnostic imaging centre in Novena as well as expanded operations at Shaw Centre have necessitated the hiring of additional staff and doctors amidst intense competition for talent in the industry. The additional manpower was also supported by the purchase of new equipment incorporating the latest technology.The Group’s consumables expenses increased by 44% to S$1.0 million, personnel expenses increased by 30% to S$7.3 million, and laboratory and consultancy fees increased by 55% to S$2.2 million. In addition, depreciation of right-of-use assets increased by 36% to S$0.7 million for 1H2024 due to the purchase of the new MRI scanner in the last quarter of 2023 and the new CT scanner in 1H2024, as well as the lease of new clinic space at Orchard Building in 1H2023.As a result, the Group recorded a borderline loss of S$0.1 million for 1H2024 as compared to a profit of S$0.6 million for 1H2023. On the balance sheet, the Net Asset Value per share (cents) fell slightly by 0.04 cent from 1.18 cents per share to 1.14 cents per share.Investing for Future GrowthMr Arifin Kwek, Chief Executive Officer of AsiaMedic Limited, said, “We are encouraged by the continued revenue growth which reflects our ongoing pursuit of further capacity expansion to serve more patients. The Group’s new diagnostic imaging centre set-up in partnership with Sunway Berhad remains on track to commence operations by November 2024 and will nearly double the Group’s diagnostic imaging capacity.”“While our initial essential investments in new talent and technology may lead to margin compression in the short term, the expanded capacity and increase in productivity will also generate economies of scale and operational efficiencies which will play a significant role in the Group’s focus on attaining sustainable higher margins in the longer term,” he added.In August 2024, the Group implemented a new artificial intelligence virtual assistant to automate the scheduling of patient appointments. The system will free clinic staff from mundane tasks, allowing them to dedicate more time for high value in-person patient care.The Group’s focus on talent acquisition and investing in technology will pave the way for long-term sustainable growth and the creation of shareholder value.This press release should be read in conjunction with the financial statements announcement for 1H2024 uploaded on SGXNet.For media and analysts’ queries, please contact:Waterbrooks ConsultantsWayne KooT: (65) 9338 8166E: wayne.koo@waterbrooks.com.sgAbout AsiaMedic LimitedAsiaMedic Limited together with its subsidiaries (“AsiaMedic” or the “Group”) is a leading healthcare provider in Singapore which provides holistic solutions through integrated application of the latest medical technologies to prevent and detect early illnesses to achieve positive experiences and clinical outcomes for patients.The Group is committed to helping clients through practical and personalised solutions delivered with the highest professional standards of service and expertise in a timely, safe and consistent manner. Conveniently located at Orchard Road, AsiaMedic is a preferred one-stop centre for:

Diagnostic imaging and radiology servicesMedical wellness and health screening servicesPrimary healthcare servicesMedical aesthetic services and products

For more information, please visit www.asiamedic.com.sgThis announcement has been reviewed by the Company’s Sponsor, Xandar Capital Pte Ltd. It 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 announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement. The contact person for the Sponsor is Ms Pauline Sim (Registered Professional) at 3 Shenton Way, #24-02 Shenton House, Singapore 068805. Telephone number: (65) 6319 4954.

Solar District Cooling Group Berhad Signs Underwriting Agreement with Mercury Securities Sdn Bhd for Its IPO on the ACE Market of Bursa Malaysia Securities Berhad

Solar District Cooling Group Berhad (“SDCG”) is pleased to announce that it has entered into an underwriting agreement with Mercury Securities Sdn Bhd (“Mercury Securities”) today for its upcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad.

1. Mr. Chris Lai Ther Wei, Director, Head of Capital Markets, Mercury Securities Sdn Bhd 2. Ms. Tan Tai Kim, Director, Corporate Finance of Mercury Securities Sdn Bhd 3. Mr. Chew Sing Guan, Managing Director of Mercury Securities Sdn Bhd 4. Mr. Edison Kong, Managing Director of Solar District Cooling Group Berhad 5. Ms. Eileen Liuk, Executive Director of Solar District Cooling Group Berhad 6. Ms. Sheryn Chow Suet Yim, Director, Corporate Finance of Mercury Securities Sdn Bhd[L-R] — 1. Mr. Chris Lai Ther Wei, Director, Head of Capital Markets, Mercury Securities Sdn Bhd2. Ms. Tan Tai Kim, Director, Corporate Finance of Mercury Securities Sdn Bhd3. Mr. Chew Sing Guan, Managing Director of Mercury Securities Sdn Bhd4. Mr. Edison Kong, Managing Director of Solar District Cooling Group Berhad5. Ms. Eileen Liuk, Executive Director of Solar District Cooling Group Berhad6. Ms. Sheryn Chow Suet Yim, Director, Corporate Finance of Mercury Securities Sdn Bhd[L-R]

1. Mr. Chew Sing Guan, Managing Director of Mercury Securities Sdn Bhd 2. Mr. Edison Kong, Managing Director of Solar District Cooling Group Berhad[L-R] — 1. Mr. Chris Lai Ther Wei, Director, Head of Capital Markets, Mercury Securities Sdn Bhd2. Ms. Tan Tai Kim, Director, Corporate Finance of Mercury Securities Sdn Bhd3. Mr. Chew Sing Guan, Managing Director of Mercury Securities Sdn Bhd4. Mr. Edison Kong, Managing Director of Solar District Cooling Group Berhad5. Ms. Eileen Liuk, Executive Director of Solar District Cooling Group Berhad6. Ms. Sheryn Chow Suet Yim, Director, Corporate Finance of Mercury Securities Sdn Bhd[L-R]

Q&M Dental Group’s profit after tax grew 84%, Board declared 0.40 cent interim dividend, a 150% increase over the same period last year

1H2024 Total EBITDA 27% higher at S$23.4 million vs 1H2023 of S$18.5 million;
1st Interim Dividend of 0.40 Singapore cent per share to be paid on 2 September 2024, an increase of 150% as compared to 1H23. Dividend Payout Ratio of 39%;
Net Asset Value of S$104 million with Group gearing reduced from 0.78 to 0.71 as at 30 June 2024 vs 31 Dec 2023.

GROUP FINANCIAL HIGHLIGHTS

6 months ended 30 June	1H2024 S$’000	1H2023 S$’000	Change %
Total Revenue	88,792	87,145	2
Total EBITDA	23,420	18,477	27
Total PATMI	9,799	5,334	84

Earnings Per Share (SG Cent)	1.04	0.56	86
Dividend Per share (SG Cent)	0.4	0.16	150
Dividend Payout Ratio (%)	39	28	11
	As at 30 June 2024 S$’000	As at 31 Dec 2023 S$’000	Change %
Net Asset Value (S$’000)	104,000	99,071	5
Net Asset Value per Share (SG Cent)	11.0	10.5	5
Debt to Total Equity Ratio (X times)	0.71	0.78	Reduced

Mainboard listed Q&M Dental Group Limited (“the Group” or “the Company” and together with its subsidiaries, the “Group”) today reported total revenue of S$88.8 million and profit after tax attributable to parent of S$9.8 million for the 6 months ended 30 June 2024 (“1H2024”).

Dr Ng Chin Siau, Group Chief Executive Officer of Q&M, said, “We are pleased to report that Q&M Dental Group has achieved a solid 84% increase in profit to S$9.8 million for the first half of 2024, driven by a robust revenue of S$88.8 million.

This significant growth underscores the strength of our dental healthcare business, which has remained steady and resilient despite the challenges of recent years with our total EBITDA for the period also increasing by 27% to S$23.4 million compared to the same period last year. In recognition of our solid performance, we are pleased to declare a first interim dividend of 0.4 Singapore cents per share, to be paid on 2 September, 2024, reflecting a dividend payout ratio of 39%. Additionally, we have successfully pared down our Group gearing, further strengthening our financial position.

These achievements highlight our commitment to delivering sustainable growth and value to our shareholders while continuing to provide exceptional dental care.”

1H2024 Financials

The Group’s total revenue increased 2% from S$87.1 million for 1H2023 to S$88.8 million for 1H2024, mainly from higher revenue contribution from Singapore dental clinics that was partially offset by lower revenue contribution from the Group’s medical laboratory business and dental distribution business, as well as lower profit guarantee income.

The Group recorded net other gains of S$1.8 million, mainly due to a gain on disposal of EM2AI Pte. Ltd. as well as compensation from ex-vendors for the settlement and termination deed for Shanghai Chuangyi Investment & Management Co., Ltd. and ex-vendors from AR Dental Supplies Sdn. Bhd..

Added Dr Ng, “While this has been a solid performance so far for this 1H2024, we remain focused on and committed to solidifying the fundamentals of the Group, keeping to our corporate philosophy of personal excellence and ethical behaviour, harmonious and respectful work environment, align objectives and work effectively as a team, ultimately benefiting patients and contributing to societal well-being. We will expand our network, embrace innovative technologies such as Artificial Intelligence (AI), and enhance operational efficiencies to drive future success.”

Investment in associates recorded a share of profit of S$0.2 million, mainly due to Aoxin Q&M Dental Limited turning from a loss in 1H2023 to profit in 1H2024.

Net cash flow generated from operating activities was S$17.3 million for 1H2024. This is mainly due to profit generated from operations in 1H2024 offset by decrease in trade and other payables, increase in trade and other receivables and income taxes paid. Net cash used in investing activities in 1H2024 amounted to S$1.1 million, mainly due to the purchase of plant and equipment for the existing and new dental clinics off set by decrease in sign on bonus for dentists. Net cash used in financing activities in 1H2024 was S$17.9 million, mainly due to repayment of lease liabilities arising from right-of-use assets, dividend payment to shareholders and repayment of bank loans. As at 30 June 2024, Q&M has cash and cash equivalents of S$32.3 million and bank borrowings plus finance leases amounting to S$76.5 million.

Net Aset Value attributable to owners of parent is S$104.0 million as at 30 June 2024 compared to S$99.1 million on 31 December 2023, an increase of 5%. Net assets value per ordinary share increased to 11.0 Singapore cents as at 30 June 2024 from 10.5 cents as at 31 December 2023.

Dividend

The Board of Directors of Q&M declared a first interim dividend of 0.4 Singapore cent per ordinary share for 1H2024, an increase of 150% as compared to 1H23. The dividend payout ratio works out to be 39% for 1H2024. The dividend will be paid on 2 September 2024.

Recent Developments

– EM2AI – AI-empowered Dental Solutions

EM2AI Pte. Ltd has recently announced in July, the release of the “Treatment Plan” on its Artificial Intelligence (AI)-module. The “Treatment Plan” AI-Module leverages state-of-the-art technology, including Large Language Models (LLM) to optimise treatment recommendations. It combines the strength of conventional clinical decision support systems, with the advanced processing capabilities of LLM to understand and interpret all data and input effectively. This greatly strengthens our overall value proposition as patients will be provided with holistic analysis with recommendations that will be unbiased and objective.

– Announcement of Arbitral award

On 15 July 2024, the Company announced that the Group’s wholly-owned subsidiary, Q&M Dental Group (Malaysia) Sdn Bhd, obtained an arbitral award from the Singapore International Arbitration Centre against (i) Tye Chee Wah; (ii) Chong Vooi Seong; (iii) Chan Sing Cheong, who are the remaining 30% shareholders of AR Dental Supplies Sdn Bhd, as well as (iv) Pride Access Sdn Bhd.

Looking Ahead

– Expansion of network of dental clinics in Singapore and the Asia Pacific region

Our commitment to expanding our network of dental clinics is unwavering. We continue to explore strategic opportunities for growth in Singapore and other Asia Pacific region markets. Each clinic is meticulously evaluated to enhance productivity and maximise returns.

– Dentistry 3.0 – Towards a “Lifelong Learning Organisation”, Ethical Dentistry, & Strengthening of Core Values

We are optimistic about the opportunities that lie ahead. Our strategic investments in AI, lifelong learning throughout the organisation, and ethical dentistry will ensure that we are well-prepared to navigate the challenges of the evolving healthcare landscape. We remain committed to our core values of loyalty, truthfulness, respect, righteousness, and integrity, which guide our actions and decisions.

Barring any unforeseen circumstances, there are no known significant changes in the trends and competitive conditions of the industry in which the Q&M operates and no other major known factors or events that may adversely affect the Group in the next reporting period and the next 12 months.

This press release is read in conjunction with Q&M’s 1H2024 results release on SGXNET.

Footnotes:
1. EBITDA refers to earnings before interest, taxes, depreciation and amortisation.
2. PATMI refers to profit after tax and minority interest (aka Profit attributable to parent).

About Q&M Dental Group (Singapore) Limited (QC7.SI)

Q&M Dental Group (Singapore) Limited (QC7.SI) (“Q&M” or together with its subsidiaries, the “Group”) is a leading private dental healthcare group in Asia.

The Group owns the largest network of private dental outlets in Singapore, operating 107 dental outlets across the country. Underpinned by about 270 experienced dentists and over 350 supporting staff, the Group sees an average of 40,000 patient visits a month in Singapore. The Group also operates 5 medical clinics and a dental supplies and equipment distribution company.

Outside of Singapore, the Group has 44 dental clinics and a dental supplies and equipment distribution company in Malaysia. Q&M is also the substantial shareholder of Aoxin Q&M Dental Group Limited, a dental Group listed on the Catalist board of the Singapore Exchange that operates dental clinics and hospitals primarily in the north-eastern region of the PRC. The Group aims to expand its operations geographically and vertically through the value chain in Malaysia, the PRC and within the ASEAN region.

The Q&M College of Dentistry was established in 2019 to offer postgraduate dental education as part of its commitment to continual education and professional development of dentists. It offers Singapore’s first private postgraduate diploma programme in clinical dentistry.

In 2020, the Group expanded into the medical laboratories and research industry with the strategic investment into Acumen Diagnostics Pte. Ltd. (“Acumen”). Currently, Acumen focuses on developing its range of medical research, tests and solutions to secure viable patents and to achieve successful commercialisation of the medical products in the near future.

The Group was listed on the Mainboard of the Singapore Exchange Securities Trading Limited (“SGX- ST”) on 26 November 2009.

For more information on the Group, please visit www.QandMDental.com.sg

Media queries, please contact:
Waterbrooks Consultants Pte Ltd
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Derek Yeo: derek@waterbrooks.com.sg , +65 9791-4707
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