Category: Engineering

Hydrogen Optimized Signs Letter of Intent with Industrial Company to Supply More Than 40 MW of Large-Scale Hydrogen Production Capacity

Unique cost-effective scalability of Hydrogen Optimized’s RuggedCell(TM) water electrolyser cited as key factor leading to agreement

Hydrogen Optimized, a subsidiary of Key DH Technologies Inc., today announced that it has entered into a confidential Letter of Intent (LOI) with a large industrial company to provide more than 40 MW of RuggedCell(TM) water electrolyser capacity for hydrogen production.

The LOI provides for high current unipolar RuggedCell(TM) systems to be deployed at one or more sites by the company, which plans to roll out hundreds of megawatts of electrolyser capacity over time. It also specifies that the installed systems could be scaled up as demand for hydrogen grows.

“The signing of this LOI is a significant step forward in our commercialization process,” said Andrew T. B. Stuart, President and CEO of Hydrogen Optimized. “A key factor underlying the agreement is our system’s unique capability to double or more in capacity without requiring the installation of costly additional electrical and other equipment.”

Stuart added, “More and more potential clients tell us they are looking for a water electrolysis system that can be economically deployed in the tens of megawatts and can be expanded at a relatively low incremental cost as the MW rating of the project grows. The RuggedCell(TM) system makes this possible as it requires fewer power conditioning units to accommodate expansion. This contrasts with small module systems that must be fully replicated to increase output, and therefore cannot gain economies of scale.”

RuggedCell(TM) water electrolysis technology was designed from the start to offer important capabilities which were missing in the market. These include:

  • The use of low-cost materials that, unlike many other electrolysers in the market today, are free of iridium and other highly expensive platinum group metals;
  • Ease of mass manufacturing;
  • High-current architecture that uniquely enables individual hydrogen production modules in the hundreds of megawatts each; and
  • The proven capability of RuggedCell(TM) electrolysers to ramp from zero to 50,000 amperes in under 10 seconds and then very quickly reduce the current to any level, even down to zero amperes. This capability supports the system’s integration with intermittent renewable energy sources such as wind or solar, and with use on grids or micro-grids with widely varying power availability.

The main driver behind the mass deployment of water electrolysis is the need to reduce the carbon intensity of hard to abate industries such as ammonia, cement, methanol, steel, heavy duty transportation and other fossil fuel-intensive applications. Hydrogen produced with low to zero carbon dioxide emissions is widely recognized as key to achieving “net zero” emissions by 2050. To that end, recently the World Hydrogen Council called for hydrogen to contribute over 20% toward global carbon abatement by 2050.*

About Hydrogen Optimized
Hydrogen Optimized is a private hydrogen technology company that develops and commercializes large-scale Green Hydrogen production systems. It is part of Key DH Technologies Inc., a group of innovation-driven businesses in the deuterium and hydrogen industries. As a sustainable energy conversion company, Hydrogen Optimized enables the conversion of green electricity into Green Hydrogen and the transformation of heavy fossil fuel-use industries into sustainability leaders. Our patent pending high-current unipolar RuggedCell(TM) water electrolysis system integrates a scalable design that is free of iridium and other expensive platinum group metals, and enables low-cost mass manufacturing. It can be scaled up for use in Green Hydrogen plants in the hundreds of megawatts that are targeted to major industrial, chemical, utility and energy end users. Hydrogen Optimized seeks to be the first water electrolysis company to supply an aggregate of 10 GW of hydrogen production equipment. . For more information on Hydrogen Optimized, please visit www.hydrogenoptimized.com.

About Key DH Technologies Inc.
Key DH Technologies (KEY) develops innovation-driven businesses in the deuterium and hydrogen industries, serving global markets. KEY’s three main operating companies include: Hydrogen Optimized, a hydrogen technology company that develops and commercializes the patent-pending RuggedCell(TM) high-current unipolar water electrolysis systems for the large-scale production of Green Hydrogen; Isowater(R), a world-leading supplier of deuterium oxide to global customers in the life sciences, high technology and environmental science sectors; and deutraMed(TM), a breakthrough deuterium science and innovation company that provides clients with high-value deuterium-containing products for specialized applications along with IP-driven research and services. For more information, please visit www.keydht.com.

For more information:
Don Hogarth
Phone: 416-565-8920
Email: don@hogarthpr.com

* https://bit.ly/3HLVvm0

SOURCE: Key DH Technologies Inc.

ACROMEC builds order book, clinches 2 contracts worth approximately S$14 million

ACROMEC Limited (“ACROMEC”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biomedical, pharmaceutical, research and academia sectors, today announced that its wholly-owned subsidiary, ACROMEC Engineers Pte Ltd has secured two engineering, procurement and construction (EPC) contracts totalling approximately S$14 million.

The first project is for Neste Asia Pacific Pte Ltd (“Neste”). In its continued effort to expand and improve their Sustainable Fuel and Oil products, Neste has entrusted ACROMEC to design & build a R&D Laboratory and Regional Office. In line with Neste’s strong position as the 4th most sustainable company globally, ACROMEC offers its expertise in sustainable laboratory solutions with strong emphasis in energy conservation, particularly in HVAC system. This is carried out while addressing the safety requirements of the laboratory facility which has a compressed gas distribution system and which deals with flammable substances.

ACROMEC would undertake full turnkey scope, including numerous number of fume hoods, laboratory furniture solutions, builder’s works, HVAC and control system, an efficient laboratory exhaust system, process system dealing with flammables, new sprinkler tank and distribution, and an intensive electrical system network. The project is to start immediately and is to be completed by the second half of the financial year ending 30 September 2022 (FY2022).

The second project is for Performance Specialty Products (Singapore) Pte Ltd, which is part of the DuPont Group, to construct a chemical laboratory at Solaris @ Kallang. This 600-square-metre lab will be designed for research with toxic chemicals, and the project involves fitting out of low-flow fume hoods, modular laboratory furniture solutions, and gas system with critical exhaust that is able to handle hazardous gas. The project is expected to start immediately and be completed by the first half of FY2022.

Said Mr Lim Say Chin, Executive Chairman and Managing Director of ACROMEC, “We are pleased to have secured these contracts during these challenging times, which is a testament to our customers’ continued recognition and confidence in our capabilities to deliver quality work. We are working hard and we will leverage on our extensive track record and proven expertise to actively pursue more contracts.”

The contracts are expected to contribute positively to the earnings per share and net tangible assets per share of the Group for FY2022.

To the best of the Directors’ knowledge, none of the Directors and controlling shareholders of the Company have any interests, direct or indirect, in these contracts, other than through their respective shareholdings in the Company.

About Acromec Limited (SGX Stock Code: 1CH1)

ACROMEC is an established specialist engineering services provider with more than 20 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMEC’s business is divided into two main business segments: (i) Engineering, procurement and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure.

The Group mainly serves the healthcare, biomedical, pharmaceutical, research and academia, and electronics sectors. ACROMEC counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies. For more information, please visit www.acromec.com.

Media and Analysts Contact:
Acromec Limited
Mr Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574
Email: jerry.tan@acromec.com

Waterbrooks Consultant Pte Ltd
Mr Wayne Koo
Tel: +65 6958 8008 / +6593388166
Email: wayne.koo@waterbrooks.com.sg, query@waterbrooks.com.sg

This media release has been reviewed by the Company’s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”) and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr Joseph Au, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

Navier Partners with Lyman-Morse Shipyard to Build First-Year Production Slot for Navier 27 In the United States

Just as electric vehicles are having a moment, so are eco-friendly, electric boats. Specifically, an all-electric, hydrofoil, performance craft outfitted with a highly advanced autopilot.

Highlights:
– Navier is a Silicon Valley startup that’s introducing the boat of the future — a 27-foot all-electric, hydrofoil, performance vessel.
– The startup is producing a limited number of boats in its first year under the Pioneer Program.
– Navier 27 will be built in the United States with Lyman-Morse shipyard, a well-respected and technologically advanced yard.
– Lyman-Morse will build the pre-production vessels and first-year limited-production editions of Navier 27 for the 2023 Pioneer slots.
– Navier 27 will be revealed at the Fort Lauderdale International Boat Show in October 2022; first-year customer delivery will be in Q2 2023.

Navier is a Silicon Valley startup that’s building technology to increase the efficiency of small powerboats by 90% while ensuring zero emissions and superior ride performance. To make this vision a reality, co-founders Sampriti Bhattacharyya and Reo Baird signed with Lyman-Morse shipyard in Camden, Maine to build the first year production slot for Navier 27.

Lyman-Morse is a well-respected shipyard with roots in the boat building industry dating back to 1978. The yard is well-known for producing custom sailing yachts and custom motor yachts that are sleek and ahead of their time; the company frequently collaborates with naval architects and design firms to bring concepts to life.

Navier is producing a limited number of boats in its first year under its Pioneer Program. As the startup focuses on technology development for Navier 27, they wished to partner with an innovative and capable yard. Lyman-Morse is one of the few shipyards in the United States that has experience working with high-tech, carbon composite boats. As a bonus, the shipyard’s location is an up-and-coming tech hub with a strong boat-building heritage; Maine is a strategic and ideal setting for Navier’s project.

“Very few shipyards have the extensive experience, in-house capabilities, and deep interest in high-tech projects as Lyman-Morse. Plus, Maine has a long history in boat building, which makes it a special place to build Navier 27,” said Co-founder and CEO, Sampriti Bhattacharyya.

Navier 27 is a 27-foot foiling performance vessel that’s capable of a range exceeding 75 nautical miles under electric propulsion and includes advanced autonomy features. When it launches during the Fort Lauderdale International Boat Show in 2022, it will be the longest-range electric boat in the world. If anyone is capable of making this vision come to life, it’s Drew Lyman and his team.

“What has me – and all of us at Lyman-Morse – excited about the partnership with Navier is that we are developing something that is cutting edge and certain to be the future of yachting in this type of market,” commented President and Owner of Lyman-Morse, Drew Lyman. “To build a carbon fiber, foiling, all-electric boat fits well with what we do at Lyman-Morse, plus it’s a boatbuilder’s dream project. We [Lyman-Morse] built a reputation for beautifully crafted boats, and we are extremely proud of our ability to implement advanced systems and technology. This is exactly what the Navier project embodies!”

Spearheaded by two MIT engineers, Navier is teaming up with the most talented minds to build the boat of the future. In July 2021, the startup announced that America’s Cup engineer and foiling expert, Paul Bieker is leading Navier’s naval architecture and mechanical design by contributing his knowledge in hydrofoil configuration and foil optimization.

Lyman-Morse will tie the technology, mechanics, construction, and manufacturing of the boat together.

“There’s a lot to be said about working with a shipyard beyond skills and capabilities. Lyman-Morse is outfitted with the best machines, tools, and technologies that will help Navier reach production goals. Drew has enthusiasm for our vision, and his team truly cares about sustainability,” said Sampriti. “We’re grateful that Drew and his team are excited to make Navier 27 a reality with us.”

Customers can register interest at www.navierboat.com or contact the team directly at info@navierboat.com.

PRESS OFFICE / SAND PEOPLE COMMUNICATION
sandpeoplecommunication.com
Elisa Corti
e@sandpeoplecommunication.com
+39 389 3138060

ACROMEC announces share swap with biomass-to-energy JV partner, Nutara Investment for joint ownership of Neo Tiew Power through Acropower

Catalist-listed ACROMEC Limited (ACROMEC, or the Company and together with its subsidiaries, the Group), has announced that it has on 11 November 2021 implemented a share swap, in which Nutara Investment Pte Ltd (the JV Partner) would exchange its 30% direct shareholdings in Neo Tiew Power Pte Ltd (Neo Tiew Power), for 30% direct shareholdings in Acropower Pte Ltd (Acropower). For information, Acropower is the vehicle for the Group to carry out its strategic diversification plans into the renewable energy sector.

The share swap, on completion, effectively places Nutara Investment as a fellow shareholder of Acropower, joining ACROMEC and Green Energy Resources Sdn Bhd (the current shareholders of Acropower) whose interest in Acropower would then be 30%, 56% and 14% respectively.

It is to be noted that the effective interest of ACROMEC, the JV Partner, and Green Energy Resources in Neo Tiew Power (including through Acropower) remain unchanged before and after the Share Swap. See illustration below for structure before and after the share swap.

For information, Neo Tiew Power owns and is in the midst of commissioning the biomass-to-energy plant situated at Chew’s Agriculture poultry farm at Neo Tiew Road.

Said Mr. Lim Say Chin, Executive Chairman and Managing Director of ACROMEC, “With this share swap restructuring, we look forward to closer collaboration with our strategic partner, Nutara Investment, in driving forward our renewable energy goals at our biomass-to-energy venture. Nutara Investment effectively moves away from being a mere investor in New Tiew Power, to a fellow valued strategic partner in Acropower. This development will allow the Group to further tap on the technical capabilities, expertise and commercial network of our strategic partner, and provide more opportunities for business development and growth.”

Share Swap Illustration
https://www.acnnewswire.com/pdf/Image/Low_Acromec20211115.jpg

The transactional documents executed to implement the share swap comprise, inter alia, a conditional share subscription agreement and a joint venture agreement.

Amongst the effect of the documents signed, the commitment letter, which earlier allows the JV Partner exit rights if Neo Tiew Power becomes insolvent, or is unable to meet certain agreed financial performance benchmarks for the financial year ending 30 September 2023, becomes invalidated.

None of the Directors or controlling shareholders of the Company or their respective associates has any interest, direct or indirect, in the Share Swap other than through their respective directorships and/or shareholding interests in the Company.

Background
Acropower had in May 2019 signed an agreement with Chew’s Agriculture Pte Ltd (“Chew’s”), one of Singapore’s leading fresh eggs producers, to build, own and operate a new biomass-to-energy plant (the “Plant”) at Chew’s new farm at Neo Tiew Road (“May 2019 Agreement”). The Plant will process and convert manure from the farm into biogas for use in generating electricity, which will then be supplied back to Chew’s at agreed prices.

Shareholders’ approval for the diversification of this new business was obtained in July 2019. Neo Tiew Power was incorporated in February 2020. Acropower’s obligation to carry out the May 2019 Agreement was novated to Neo Tiew Power.

On 26 November 2020, the Group further announced the completion of the joint venture between its subsidiary Acropower, and the JV Partner, with the subscription by both parties of new shares in the share capital of Neo Tiew Power.

The JV Partner is a Singapore-incorporated investment holdings company comprising private investors. It has other investments in companies with experience in providing turnkey solutions to its customers in the field of process plants and facilities, environmental technology systems as well as composite process equipment.

This press release is to be read in conjunction with the Company’s announcement posted on the SGX website on 12 November 2021.

About Acromec Limited (SGX Stock Code: 1CH1)
ACROMEC is an established specialist engineering services provider with more than 20 years of experience in the field of controlled environments. The Group has over the years acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.

ACROMEC’s business is divided into two main business segments: (i) Engineering, procurement and construction services, specialising in architectural, and mechanical, electrical and process works within controlled environments; and (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure.

The Group mainly serves the healthcare, biomedical, pharmaceutical, research and academia, and electronics sectors. ACROMEC counts amongst its customers, hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.

This media release has been reviewed by the Company’s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”) and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr. Joseph Au, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg.

For more information, please visit www.acromec.com.
Media and Analysts Contact:
Acromec Limited
Mr Jerry Tan
Chief Financial Officer
Tel: +65 6415 0574
Email: jerry.tan@acromec.com

Mr Wayne Koo / Ms Raihana
Tel: +65 6958 8008 / +65 9338 8166
Email: wayne.koo@waterbrooks.com.sg
Email: raihana@waterbrooks.com.sg
Email: query@waterbrooks.com.sg

Habitat for Humanity Report: Construction is Vast Source of Jobs in Emerging Markets

The construction industry — led by homebuilding — is a large, often-overlooked source of jobs in emerging market economies, according to a report (https://www.habitat.org/sites/default/files/documents/A-Ladder-Up_Report.pdf) released today by Habitat for Humanity to mark World Habitat Day. Every $1 million in construction output creates an average of 97 jobs in emerging markets, economists at the University of Pennsylvania, the University of Southern California, and the University of Washington found in the report commissioned by Habitat for Humanity’s Terwilliger Center for Innovation in Shelter. That compares to 81 jobs created per $1 million in agricultural output and 96 jobs per $1 million in output in the accommodation and food services sector, according to the report, which focuses on 9 countries: Brazil, Colombia, India, Indonesia, Mexico, Peru, the Philippines, South Africa, and Uganda. Graphics below.

“Investment in residential construction represents a potential win-win-win in emerging markets because it creates such a large number of jobs locally, helps close stubborn gaps in affordable housing and stimulates the larger economy,” said Patrick Kelley, vice president of Habitat’s Terwilliger Center. “These findings are critically important for low- and middle-income countries deciding what areas to prioritize as they work to build back economies weakened by the COVID-19 pandemic, particularly in a world where 1.6 billion people still lack adequate shelter.”

The report, titled “A Ladder Up: The construction sector’s role in creating jobs and rebuilding emerging market economies,” (https://www.habitat.org/sites/default/files/documents/A-Ladder-Up_Report.pdf) also provides evidence that many of those jobs go to workers with lower levels of formal education. These are relatively well-paying jobs compared to other employment options for workers with limited educational attainment, the researchers found.

Construction workers in emerging markets often work outside of formal, regulated channels, according to the report, with informal employment representing 50% of construction workers in South Africa to more than 90% of those workers in countries such as India, Indonesia and Uganda. Residential construction dominates the sector, the report found. In Brazil, Colombia, and Mexico, for example, residential construction accounts for more than 80% of total building construction.

The researchers also concluded that measures to improve the working conditions and on-the-job training of construction workers can help urban areas — including those hit hard by the pandemic — develop in a more sustainable, equitable way.

For further information, request for graphics, visuals or arrange an interview, please contact Michele Soh, msoh@habitat.org, +65 9233 1544.

About Habitat for Humanity

Driven by the vision that everyone needs a decent place to live, Habitat for Humanity began in 1976 as a grassroots effort on a community farm in southern Georgia. The Christian housing organization has since grown to become a leading global nonprofit working in local communities across all 50 states in the U.S. and in more than 70 countries. Families and individuals in need of a hand up partner with Habitat for Humanity to build or improve a place they can call home. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through financial support, volunteering or adding a voice to support affordable housing, everyone can help families achieve the strength, stability and self-reliance they need to build better lives for themselves. Through shelter, we empower. To learn more, visit habitat.org.

About Habitat’s Terwilliger Center

The Terwilliger Center for Innovation in Shelter, a unit of Habitat for Humanity International, works with housing market actors to expand innovative and client-responsive services, products and financing so that households can improve their shelter more effectively and efficiently. The goal of the Terwilliger Center is to make housing markets work more effectively for people in need of decent, affordable shelter, thereby improving the quality of life for low-income households. To learn more, visit habitat.org/tcis.

ACROMEC’s associated Life Science Incubator launches Co-working Labspace

Serving start-ups in MedTech, Biotech, Biopharma and FoodTech, the Incubator aims to become a vibrant centre of entrepreneurship, technology and science.

ACROMEC Limited (ACROMEC; SGX: 43F), a specialist engineering services provider, announced that subsidiary ACROMEC Engineers Pte Ltd (ACROMEC Engineers) through joint-venture associate Life Science Incubator Pte Ltd, has launched the first Life Science Incubator co-working laboratory space, with a ceremony on location at the German Centre, International Business Plaza, Singapore.

The ceremony was attended by Mr Alvin Tan, Minister of State, Ministry of Culture, Community and Youth and Ministry of Trade & Industry and others from the Economic Development Board, Enterprise Singapore, SGInnovate, A*STAR, NTUitiv and NUS accelerator. Members of Life Science Incubator’s current network of some 20 industry partners, including Merck, also attended the event.

Serving early-stage bio and pharma start-ups, companies and entrepreneurs in the MedTech, Biotech, Biopharma and FoodTech sectors, Life Science Incubator will provide flexible co-working laboratory spaces for research and development. With access to communal state-of-the-art technologies and facilities, start-ups will be able to fully focus on innovation and talent in science without having to think about hefty infrastructure capital.

Said Niamh Madden, General Manager of Life Science Incubator, “Today marks the start of our exciting journey at the Life Science Incubator. We look forward to supporting science and technology start-ups and being an integral launchpad for their endeavours. With our strong network of partner companies, we are confident that the incubator will become a vibrant centre of entrepreneurship, technology and science.”

Said Mr Lim Say Chin, Executive Chairman and Managing Director of ACROMEC, “The successful completion and launch of the Life Science Incubator attests to ACROMEC’s track record and success as a specialist engineering provider for controlled environments. We are excited to be a part of this vibrant ecosystem and will continue to serve companies and start-ups in the life science, biotech, healthcare, and research sectors.”

In July, the Group announced that wholly-owned subsidiary ACROMEC Engineers had entered into a joint-venture agreement with strategic partner Tako Ventures to build, own, and operate JVCo and co-working laboratory facilities. JVCo is 30% owned by the Group through ACROMEC Engineers, while Tako Ventures holds the remaining 70% stake, managing JVCo and the Life Science Incubator.

ACROMEC Engineers undertook the design, construction, and fitting-out works for the 600 square meter Life Science Incubator’s co-working lab facilities, which includes 8 suites, 51 lab benches, and 1 operating theatre.

About ACROMEC Limited
SGX Catalyst-listed ACROMEC (SGX: 43F) is an established specialist engineering services provider with more than 20 years of acquiring expertise in the design and construction of facilities requiring controlled environments, such as laboratories, medical and sterile facilities and cleanrooms. Amongst its customers, ACROMEC counts hospitals & medical centres, government agencies, educational institutions, research & development companies and multinational units, pharmaceutical, semiconductor manufacturing and engineering companies. For more information, visit www.acromec.com.

ACROMEC share information through SGX (43F), Bloomberg (ACRO.SG) and ThomsonReuters (ACRO.SI).

Analyst & Media contact:
ACROMEC Limited
Mr Jerry Tan, CFO
E: jerry.tan@acromec.com

Waterbrooks Consultants Pte Ltd
Mr Wayne Koo / Ms Raihana
T: +65 6958 8002 / +65 9338 8166
E: wayne.koo@waterbrooks.com.sg / raihana@waterbrooks.com.sg

Hatten Land Enters into MOU with Singapore Myanmar Investco to Undertake ‘Green’ Crypto Mining Activities in Melaka

  • Strategic Partnership Agreement with Bursa-Listed Nestcon Berhad for Solar Energy Initiative
  • Proposed Share Placement to Prominent Investors to Accelerate the Group’s New Growth Initiatives

Hatten Land Limited (SGX:PH0) announced today a partnership to operate Hatten Land’s energy-efficient ‘green’ cryptocurrency mining in Melaka that will soon be enabled by solar panels installed on rooftops of retail malls it owns or manages, as it pivots towards an environmental-friendly digital economy.

SGX-Catalist Hatten Land’s wholly-owned subsidiary, Hatten Technology (S) Pte. Ltd. (Hatten Tech) has signed a MOU with SGX Mainboard-listed Singapore Myanmar Investco Limited (SMI) to jointly explore business opportunities in cryptocurrency mining (crypto mining) activities. SMI recently partnered NASDAQ-listed The9 Limited (The9) to procure up to 4,000 sets of crypto mining rigs.

Both parties will leverage on Hatten Land’s space, infrastructure, and comparatively lower energy costs to carry out ‘green’ cryptomining activities, as Hatten Land steps up efforts to introduce solar energy. The renewable energy initiative will allow both parties to conduct ‘green’ crypto mining across Hatten Land assets, with increases in capacities helping to power more rigs to be added later.

Hatten Land and its parent the Hatten Group conglomerate are the leading developers in the historical Malaysian tourist city, operating six malls with built-up area of more than six million square feet. It also owns four hotels in Melaka.

Hatten Tech will share technological know-how on ‘green’ crypto mining facility management, and will also share the net proceeds of the cryptocurrencies to be mined.

Under the MOU, SMI has the intention to install up to 2,000 rigs in Hatten Land’s properties in Melaka. Hatten Land and SMI are working to conclude definitive agreement within 90 days from 30 September 2021. Hatten Land expects to install and operate the rigs from December 2021.

New Solar Energy Initiatives with Strategic Partnership
Hatten Land also announced that its subsidiary Hatten Commercial Management Sdn. Bhd. (HCM), which focuses on green and sustainable energy innovations and developments, has signed a Strategic Partnership Agreement with Nestcon Sustainable Solutions Sdn. Bhd. (NSS), a wholly-owned subsidiary of Bursa-listed Nestcon Berhad to install solar panels on the roofs of some of its properties in Melaka.

HCM and NSS will set up a joint-venture or form a consortium with other partners to install solar panels and facilities at Hatten Land-owned malls. An estimated 6,373 solar panels will first be installed at Dataran Pahlawan Melaka Megamall – the largest mall in Melaka and managed by Hatten Group conglomerate – can generate up to 3.19 MWp of solar energy.

The initiative will allow Hatten Land to lower energy costs, accelerate its sustainability efforts and contribute to the ‘green’ crypto mining.

In addition, NSS and HCM will jointly collaborate with other potential partners to discuss opportunities to utilise and/or secure Hatten Land’s current and future land reserve in Malaysia to build large-scale solar photovoltaic (LSSPV) facilities, by phases, capable of generating up to 100 MWp.

Aligned with Hatten Land’s environmentally-friendly digital initiatives, this strategic partnership will allow the Group to lower energy costs, enhance synergies in its ‘green’ crypto mining activities and harness new business opportunities in the renewable energy market.

Proposed Share Placement to Accelerate the Group’s Technology Ventures and Renewable Energy Initiatives
Hatten Land is also pleased to announce that it would raise S$1.8 million from the placement of 80,000,000 new shares at S$0.023 (Placement Shares), representing a discount of approximately 5.74% over the volume weighted average price of S$0.0244 per share on 10 September 2021. The shares will be issued to Asdew Acquisitions (40 million), Evolve Capital Management (20 million) and Mr Ong Toon Wah (20 million) (collectively, the Subscribers).

Each Placement Share comes with a detachable warrant which can be converted to Hatten Land shares at S$0.048 within two years. Proceeds will be used as working capital, as well as to pursue technology and solar initiatives.

The Placement Shares represent approximately 4.78% of the enlarged share capital of Hatten Land of 1,675,169,228 shares. Assuming full conversion of the warrants, Hatten Land’s issued share capital base will be enlarged further to 1,755,169,228 shares, of which the Subscribers will hold approximately 9.12%.

Dato’ Colin Tan, Executive Chairman and Managing Director of Hatten Land, said: “As COVID-19 becomes endemic, we see strong opportunities taking shape and both partnerships accelerate our pivot towards the digital economy.

‘Green’ crypto mining activities will allow Hatten Land to leverage on existing fixed assets in Melaka, harness our own renewable energy initiative and create new revenue stream with the cryptocurrency proceeds.

We are also equally excited to embark on the solar energy collaboration with Nestcon, at a time when sustainability is becoming increasingly important. Combining our efforts and resources, we are confident that the partnership will allow us to harness new business opportunities and further our sustainability efforts.

These are significant milestones for Hatten Land and it aligns with our digital transformation roadmap to increase shareholder value in a sustainable manner.”

Dato’ Colin Tan, added: “We are extremely pleased with the interest and support in our Share Placement and the proceeds will enhance our financial flexibility in our strategic technology and renewable energy initiatives ahead.”

About Hatten Land Limited
Hatten Land Limited is one of the leading property developers in Malaysia specialising in integrated residential, hotel and commercial developments. Headquartered in Melaka, it is the property development arm of the conglomerate Hatten Group, which is a leading brand in Malaysia with core businesses in property development, property investment, hospitality, retail and education.

Hatten Land Limited began trading on the Catalist board of SGX-ST on 28 February 2017 after the completion of the reverse takeover of VGO Corporation Limited. For more information, visit: www.hattenland.com.sg
[SGX: PH0; Bloomberg: HATT:SP; RIC: HATT:SI]

Issued on behalf of Hatten Land Limited by WeR1 Consultants Pte Ltd.
Media & Investor Contacts:
Mr Isaac Tang
Mobile: +65 9178 0269
Email: hatten@wer1.net

This press release has been prepared by Hatten Land Limited (the Company) and its contents have been reviewed by the Company’s sponsor, UOB Kay Hian Private Limited (the Sponsor) for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the SGX-ST) Listing Manual Section B: Rules of Catalist.

This press release has not been examined or approved by the SGX-ST and the SGX-ST assume no responsibility for the contents of this press release, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President at 8 Anthony Road, #01- 01, Singapore 229957, telephone +65 6590 6881.

Rail Authorities, Operators, Leaders, Stakeholders and Partners to Discuss the Future of Rail in Asia Pacific

Passenger demands, expectations and behaviours have changed in the last 18 months. And to meet these changing patterns, railway operators and authorities are changing too. On 15-16 September, Asia Pacific Rail 2021 will bring together rail leaders from across the region to discuss the future of rail in Asia.

Over the two days, over 80 expert speakers from rail operators and authorities across Asia and beyond will be addressing key themes such as Digital Rail, Signalling & Communications, Operations & Maintenance, Asset Management, Project Updates and more.

Headlining the event are the Keynote Rail Leaders Panels featuring TC Chew, Director – Global Rail Business of Arup, Chong Kheng Chua, Deputy Chief Executive – Infrastructure and Development of Land Transport Authority Singapore, Dr. Jacob Kam Chief Executive Officer of MTR Corporation and Michel Obadia, Chief Executive Officer – Asia Pacific of Siemens Mobility. They will be addressing on what’s next for the Rail industry in Asia Pacific.

Day two of the event will be opened by a COO Panel featuring Bruce Chong, Director – City Advisory and Urban Sustainability of Arup, Alvin Gee, Deputy Managing Director – Operations Support of Bangkok Expressway and Metro, Catherine Baxter, Chief Operating Officer of Metro Trains Melbourne and Adi Lau, Managing Director – Mainland China Business & Global Operations Standards of MTR Corporation as they share best practices on Operating world-class transport services to achieve global sustainability goals. Building on that, leaders from India Railway Stations Development Corporation, Prasarana Malaysia, Jacobs, Transport for London and Bangkok Mass Transit System Public Company Limited (BTS) will take a rail-based approach towards Transit-oriented development.

Additional featured speakers at Asia Pacific Rail include:

– Dr Tony Lee, Operations Director, MTR Corporation, Hong Kong
– Samuel Chan, Group Director – Rail & Road Systems Engineering, Land Transport Authority
– Amaury Jourdan, Vice President & Chief Technology Officer – Thales Ground Transportation, Thales, France
– Raphaelle Guerineau, CEO — Australia & New Zealand, Siemens Mobility
– Kurt Brissett, Executive Director Connected Journeys, Transport for NSW, Australia
– Muhammad Effendi, Operation and Maintenance Director, MRT Jakarta, Indonesia
– Kate McCauley, Principal & Regional Lead – Precinct Development and Planning, Jacobs, Australia
– Shahrin Abdol Salam, Senior Vice President and Deputy Managing Director, SMRT TEL
– Taufikurrahman Taufikurrahman, Executive Vice President, PT Kereta Api Indonesia
– Matthew Yates, Head of Projects, Consents & Urban Design, Transport for London, United Kingdom
– Noormah Mohd Noor, Chief Executive Officer, Express Rail Link, Malaysia
– Danny Ho, Head of Rail Projects, SBS Transit
– Sanjeev Kumar Lohia, Managing Director And Chief Executive Officer, Indian Railway Stations Development Corporation, India
– Yanto Yulianto, Divisional Head of Information System and Technology, PT MRT Jakarta, Indonesia

Running alongside the conference is a virtual exhibition hall showcasing the latest rail solutions and technologies by industry giants including Siemens, Thales, Arup, Ferrovie dello Stato Italiane SpA, Jacobs, UK DIT and many more.
The two-day free-to-attend conference and exhibition is expected to gather over 2,000 rail stakeholders from Asia Pacific and beyond.

About Asia Pacific Rail 2021
Date: 15-16 September 2021, LIVE ONLINE
Conference & Exhibition opening hours: 09:00 am SGT / GMT +8
Website: https://bit.ly/3Dsoie8
Register for a free pass at: https://bit.ly/3gI2wJm

About Terrapinn
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Note: Press registration for the conference is compulsory and advance scheduling for speaker/ sponsor interviews is recommended. Press passes are strictly reserved for reporters, journalists, editors only. Final issuance of press passes is subjected to Terrapinn’s discretion. For your complimentary press pass, please contact the following:

Jessica Foong
Marketing
Terrapinn Pte Ltd
Jessica.foong@terrapinn.com

Central Global Bhd Signs MoU with Smart Sabah for Construction of State Ministry of Finance’s Dashboard

Central Global Berhad’s (Central Global or Company) wholly-owned subsidiary, Central Global Technology Sdn. Bhd. (CGTSB) has signed a memorandum of understanding (MoU) with Smart Sabah Corporation Sdn. Bhd. (Smart Sabah) to discuss the set-up of a joint venture (JV) for the construction of a dashboard for Sabah’s Ministry of Finance.

Central Global executive chairman Dato’ Faisal Zelman

The MoU, which is valid for six months from the signing, will be the framework from which CGTSB and Smart Sabah explore collaboration leading to a JV for the dashboard’s planning, design, development, implementation and maintenance.

Central Global is a producer of industrial masking tapes and label stocks as well as general building contractor while Smart Sabah is a state-owned company offering information, communication and technology services as well as other related management and security consultancy services.

Executive Chairman of Central Global, Dato’ Faisal Zelman said: “We welcome the discussions on the feasibility of working with Smart Sabah for the construction of the dashboard for the state’s Ministry of Finance. We look forward to having fruitful discussions on this project and will announce accordingly if there are any updates or progress”.

“We continue to explore business opportunities for the Company’s construction arm while finalising the purchase of machinery that will increase our masking tapes production capacity by 250%. These initiatives and discussions are ongoing and will ensure the sustainability of our business despite the challenges of the past year-and-a-half.”

Contact:
Hakim Juraimi
Email: h.juraimi@swanconsultancy.biz

Central Global Berhad Increases Production Capacity by 250% to Meet Fresh Demand

  • Machinery purchases increase tape manufacturing capacity from 20 mil to 70 mil sqm
  • Potential order book at 30 mil sqm

Central Global Berhad (Central Global or Group), a producer of industrial masking tapes and label stocks as well as general building contractor, is in the midst of finalizing the purchase of machinery that will triple the Group’s manufacturing arm’s capacity to produce industrial masking tapes.

Central Global executive chairman Dato’ Faisal Zelman

With the purchase of the new machinery, the Group’s factory in Kuala Muda, Kedah, will have a capacity to produce up to 70 million square metres (“sqm”) per year of tapes from 20 million sqm of tapes per year from the old machinery.

Central Global executive chairman Dato’ Faisal Zelman said, “This is perfect timing for us as we currently have new potential orders of up to 30 million sqm of masking tape orders from existing customers. The new machinery will make us even more productive and efficient while allowing us the capacity to grow the business.”

“We are also able to fulfil backlog orders worth RM10.0 million from July and August that had been delayed due to the enhanced movement control order that was extended by two weeks in parts of Kuala Muda to the end of July. We were only able to restart operations from 2 August 2021 and only at 60% capacity for employees, but we are pleased to announce that all our employees will be fully vaccinated by 23 August 2021.”

The purchase of new machinery for the Group’s factory in Kuala Muda will be partly financed through a private placement exercise of 18 million new shares which is expected to raise approximately RM26.0 million, which included financing for a construction project in Penang.

The production expansion of the Group’s manufacturing arm is in conjunction with Central Global’s growth initiatives for its construction segment. The Group signed an MoU in early June with Multi Scopes Engineering Sdn Bhd to form a joint venture to bid for building a RM250.0 million sewage treatment plant in Kwasa Damansara, Selangor and was awarded an RM101.0 million construction project in April 2021 to upgrade the water supply system in Lahad Datu, Sabah.

Contact:
Hakim Juraimi
Email: h.juraimi@swanconsultancy.biz