Exchanges & Software Archives - Page 2 of 25

Propel Global Reports Encouraging 24.2% Growth in Revenue to RM34.3 Million in Q1 FY2025

Group Remains Cautiously Optimistic on Growth Opportunities in Oil & Gas and HVAC

PROPEL GLOBAL BERHAD (Propel Global or the Group), a provider of oil and gas (O&G) services, today announced its financial results for the first quarter of fiscal year 2025 (Q1 FY2025). The Group recorded revenue of RM34.3 million for the quarter ended 30 September 2024, reflecting a 24.2% increase from RM27.6 million in the corresponding quarter of the previous year (Q1 FY2024).

Ms. Angeline Lee, Executive Director, Group Chief Executive Officer of Propel Global

The Group achieved revenue growth in Q1 FY2025, driven primarily by the Oil & Gas (“O&G”) segment, which contributed RM20.3 million. This performance was supported by ongoing Engineering, Procurement, Construction & Commissioning (“EPCC”) and Marine Heating, Ventilation, and Air-conditioning (“HVAC”) projects. While the segment’s profit before tax (“PBT”) moderated to RM1.4 million compared to RM5.0 million in Q1 FY2024, this was primarily due to a foreign exchange loss of RM1.1 million from the depreciation of the US Dollar and the absence of one-off gains recorded in the previous year, amounting to RM2.8 million.

The Technical Services (“TS”) segment achieved impressive revenue growth, reaching RM11.2 million, up from RM8.6 million in Q1 FY2024, reflecting progress on the construction of an electronics factory in Chuping, Perlis. Although the segment posted a marginal loss before tax (“LBT”) of RM0.2 million, this was mainly due to increased material and operational costs, which the Group is actively addressing to enhance margins moving forward.

The Information and Communications Technology (“ICT”) segment continued its steady performance, contributing RM2.8 million in revenue and RM0.6 million in PBT. This reflects the success of the Group’s diversification strategy and its ability to capitalise on growth opportunities in the digital technology sector.

For Q1 FY2025, the Group reported a LBT of RM4.0 million, compared to a PBT of RM0.9 million in Q1 FY2024. This was due to higher corporate administrative expenses, including professional charges and staff costs, along with a fair value loss of RM0.5 million on quoted shares and goodwill impairment losses of RM0.2 million. The absence of one-off gains recorded in the previous year further impacted the overall comparative performance.

Despite these challenges, the Group remains well-positioned for future growth, with total equity of RM102.5 million and cash and cash equivalents of RM19.8 million as of 30 September 2024. This robust position enables PGB to invest in strategic initiatives and confidently navigate market uncertainties while maintaining a focus on long term value creation for stakeholders.

Ms. Angeline Lee, Executive Director / Group Chief Executive Officer of Propel Global commented, “Our Q1 FY2025 results highlight the resilience of our business amidst external challenges. While foreign exchange losses and the absence of one-off gains impacted our profitability, our revenue growth reflects the strength of our core operations and ongoing diversification efforts.”

She added, “With our increased stake in Best Wide Engineering Sdn. Bhd. (“BWE”) to 90.0%, we are well-positioned to capitalise on opportunities in the oil and gas sector, particularly as Petronas continues its RM60 billion capital expenditure. Additionally, our focus on HVAC services aligns with Malaysia’s sustainability goals under the National Energy Transition Roadmap (NETR) and Budget 2025, positioning us to meet the rising demand for energy-efficient solutions.”

The Group remains optimistic about its growth prospects in fiscal year 2025 (“FY2025”). In the O&G segment, Petronas’ substantial investments, including RM10 billion in recently awarded contracts for Maintenance, Construction, and Modification (“MCM”) projects, provide a solid foundation for growth. The HVAC segment is set to benefit from Malaysia’s ambitious sustainability goals, with RM300 million allocated under Budget 2025 to support green initiatives and the potential introduction of a carbon tax in 2026 further encouraging businesses to adopt eco-friendly practices. PGB’s expertise in energy-efficient solutions positions the Group to capitalise on these trends.

While global economic uncertainties persist, driven by geopolitical tensions and potential supply chain disruptions following the recent US presidential election, Malaysia’s economy is expected to grow steadily, with GDP forecasted to rise by 4.5% to 5.5% in 2025. This positive outlook, supported by a historic RM421 billion in expenditure under Budget 2025, underscores the Group’s confidence in its ability to navigate challenges and deliver sustainable growth for its stakeholders.

ABOUT PROPEL GLOBAL BERHAD
Propel Global Berhad (Propel Global or the Group) is a provider of oil and gas (O&G) services, including the supply and provision of maintenance services for air-conditioning and ventilation systems, alongside specialised oilfield services such as pipe recovery, well intervention, diagnostic and sand management, and production enhancement. The Group also offers engineering and technical works for the O&G industry. In addition, Propel Global provides technical services for industrial, commercial, and residential construction and office maintenance, as well as ICT services, including trading in hardware, software, and spare parts. The Group also engages in investment holding activities.

Issued By: Swan Consultancy Sdn. Bhd. on behalf of Propel Global Berhad

For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz

Xinyi Ching
Email: x.ching@swanconsultancy.biz

TOPVISION Launches Prospectus for the Transfer of Listing from the LEAP Market to ACE Market

Company Sets To Raise RM17.89 Million From ACE Market PO

TOPVISION Eye Specialist Berhad (TOPVISION or the Company), an experienced player in medical eye care services in Malaysia, is pleased to announce the launch of its prospectus for the upcoming Public Offering in conjunction with TOPVISION’s transfer of listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities), a move that underscores its continuous commitment to delivering high-quality eye healthcare nationwide as well as boosts TOPVISION’s public market visibility.

1. Mr. Phang Siew Loong, Head of Equity Markets, Hong Leong Investment Bank Berhad
2. Wendy Teh, Co-head, Corporate Finance, Hong Leong Investment Bank Berhad
3. Mr. Tan Kah Poh, Independent Non-Executive Director, TOPVISION Eye Specialist Berhad
4. Datuk Kenny Liew Hock Nean, Executive Vice Chairman, TOPVISION Eye Specialist Berhad
5. Mr. Lee Geok Ai, Independent Non-Executive Chairman, TOPVISION Eye Specialist Berhad
6. Dr. Peter Chong Kuok Siong, Chief Executive Officer and Executive Director, TOPVISION Eye Specialist Berhad
7. Ms. Lim May Wan, Independent Non-Executive Director, TOPVISION Eye Specialist Berhad

This Public Offering aims to raise RM17.89 million through the issuance of 54.22 million new ordinary shares at a retail price of RM0.33 per share. The funds raised from this exercise will be allocated as follows:

RM7.90 million for the establishment of the TOPVISION International Eye Specialist Centre in Klang Valley, a tertiary eye ambulatory care centre with subspecialty services like retinal surgery, cornea transplants, and paediatric ophthalmology to meet patient needs and elevate eye healthcare standards.

RM5.00 million for expanding the ACC network with new centres in Kuala Terengganu and Tawau, Sabah, expanding TOPVISION’s presence in East Malaysia and enhancing access to quality eye care.

RM0.50 million for purchase of machines, including phacoemulsification machines to improve service quality across TOPVISION’s network.

RM4.50 million for listing expenses for the transfer of listing from the LEAP Market to the ACE Market of Bursa Securities.

Dr. Peter Chong Kuok Siong, Chief Executive Officer and Executive Director of TOPVISION said, “We are thrilled to launch our prospectus, marking TOPVISION’s another milestone in the process of transfer its listing to the ACE Market. This move not only accelerates our growth but underscores our commitment to advancing eye healthcare across Malaysia. With funds raised, we will expand our ACC network, establish TOPVISION International, and invest in new machines, all aimed at enhancing patient care. This listing reflects our dedication to sustainable growth, clinical excellence, and our mission to improve the quality of life for our patients.”

Mr. Phang Siew Loong, Head of Equity Market of Hong Leong Investment Bank Berhad commented, “TOPVISION’s transition to the ACE Market marks a pivotal milestone in its growth journey. We are proud to support TOPVISION as it builds on its strong foundation of clinical excellence and patient-centered care. With this listing, TOPVISION is well-positioned to meet the growing demand for specialised eye care, aligning with Malaysia’s healthcare goals and paving the way for sustainable growth and innovation in the sector.”

The medical eye care industry in Malaysia is projected to grow significantly, with revenue expected to expand at a compound annual growth rate (“CAGR”) of 10.0% from RM849.50 million in 2024 to RM1,249.40 million by 2028. This growth is driven by several key demand and supply factors. On the demand side, factors include steady population growth, an ageing population, increased medical tourism, growing consumer affluence, and a rise in lifestyle-related diseases. Meanwhile, supply-side growth is supported by advancements in medical eye care technology and strong government support.

Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Underwriter and Sole Bookrunner.

1. Mr. Phang Siew Loong, Head of Equity Markets, Hong Leong Investment Bank Berhad
2. Datuk Kenny Liew Hock Nean, Executive Vice Chairman, TOPVISION Eye Specialist Berhad
3. Dr. Peter Chong Kuok Siong, Chief Executive Officer and Executive Director, TOPVISION Eye Specialist Berhad

About TOPVISION Eye Specialist Berhad (TOPVISION)
TOPVISION Eye Specialist Berhad is a prominent provider of medical eye care services in Malaysia, specialising in comprehensive eye care treatments including cataract surgery, treatment and management of glaucoma, and treatment and management of vitreous and retinal diseases. TOPVISION was listed on the LEAP Market in 2018, founded with a commitment to delivering advanced and patient-centric medical services, TOPVISION operates a growing network of ambulatory care centres (ACCs) across Malaysia. The Company leverages medical technology and a team of experienced ophthalmologists to provide high-quality treatments. As an experienced player in the field, TOPVISION continues to expand its services, focusing on both innovation and accessibility to enhance the eye health of patients throughout the region.

For more information, visit https://www.tvesc.com/en/

Issued By: Swan Consultancy Sdn. Bhd. on behalf of TOPVISION Eye Specialist Berhad

For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz

Xinyi Ching
Email: x.ching@swanconsultancy.biz

Cropmate Sets to Raise RM42.0 Million from ACE Market IPO

IPO to Enhance Operations and Customer Service Capability in Malaysia’s Fertiliser Industry

Cropmate Berhad (Cropmate or the Company), a key player in the conventional and specialty fertiliser manufacturing industry in Malaysia, is pleased to announce the launch of its prospectus for the upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).

Ms. Lee Jim Leng, Group Managing Director and Chief Executive Officer of Hong Leong Investment Bank Berhad; Mr. Lee Chin Yok, Managing Director, Cropmate Berhad

The IPO aims to raise RM42.0 million through the issuance of 210.0 million new shares at a retail price of RM0.20 per share. The proceeds from the IPO will be allocated as follows:

RM17.1 million for working capital to support Cropmate’s growing operations. RM16.7 million to part finance the purchase considerations of Factory Lot 8949 and Factory Lot 8950 where Cropmate’s operations are located. RM3.2 million for capital expenditure including setting up of a Research and Development (“R&D”) and test laboratory. RM5.0 million to defray listing expenses.

Managing Director of Cropmate, Mr. Lee Chin Yok, stated, “This is a defining moment for Cropmate with the launch of our prospectus. As the first-ever pure-play fertiliser company to be listed on Bursa Malaysia, this IPO represents our commitment to enhancing agricultural productivity and sustainability in Malaysia. With the proceeds, we aim to expand our R&D capabilities and continue to innovate in the fertiliser industry. We are excited about the opportunities this IPO opens for Cropmate as we strengthen our presence in the Malaysian agricultural sector.”

He further added, “Our focus on expanding our R&D capabilities and securing strategic assets aligns with our long-term vision of becoming a leading force in the industry. The additional working capital will also provide us the necessary resources to meet the rising demand for high-quality fertilisers, especially amongst the durian orchards and oil palm plantations, while ensuring continuous innovation and excellence in our operations.”

Group Managing Director/Chief Executive Officer of HLIB, Ms. Lee Jim Leng, expressed her support, stating, “Cropmate is well-positioned to capture the growth in Malaysia’s agricultural sector, especially with its focus on innovation and sustainability, which allows them to play a pivotal role in strengthening food security as our population continues to grow. Their strategic initiatives, backed by a strong operational foundation, ensure that Cropmate will continue to thrive and lead the fertiliser industry moving forward.”

Cropmate’s growth is anchored in its expertise in the formulation and blending of conventional and specialty fertilisers, as well as trading of straight fertilisers. The Company’s commitment to supporting farmers with innovative, high-quality fertilisers has established it as a trusted name in Malaysia’s agricultural industry.

Hong Leong Investment Bank Berhad is the Principal Adviser, Sponsor, Underwriter and Bookrunner.

About Cropmate Berhad (Cropmate)
Founded in 2018, Cropmate Berhad is an established fertiliser manufacturer and supplier in Malaysia, specialising in the formulation and blending of conventional and specialty fertilisers. With a focus on innovation and sustainability, Cropmate offers a wide range of products designed to enhance agricultural productivity, including compacted and blended fertilisers, as well as semi-organic, organic, and liquid fertilisers. Led by industry veterans with decades of experience, Cropmate is committed to supporting farmers in improving crop yield and quality. As the first pure-play fertiliser company listed on Bursa Malaysia, Cropmate continues to advance its mission of contributing to the growth and sustainability of the agricultural sector.

For more information, visit https://www.cropmate.com.my/

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

For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz

William Yeo
Email: w.yeo@swanconsultancy.biz

TRIO Launches 360 Botslab’s Smart Home Security Products in Malaysia, Introducing Advanced AI Solutions to Local Consumers

Redefining Home Security in Malaysia with Advanced AI and Smart Technology

TRIO Sales & Services Sdn. Bhd. (TRIO), a leading distributor of high-quality automotive and security products in Malaysia has officially launched the renowned Artificial Intelligence of Things (AIoT) brand 360 Botslab under 360 Smart Life Group in the Malaysian market

Mr. Yap Yi An, Executive Director of TRIO Sales & Services Sdn. Bhd.; Mr. Yap Kai Le, Executive Director of TRIO Sales & Services Sdn. Bhd.; YB Teressa Kok, Member of Parliament for Seputeh; Mr. David Yap Chong Huat, Managing Director of TRIO Sales & Services Sdn. Bhd.; Mr. Mars Ma, Senior, Vice President of 360 Botslab; Mr. Cao Jin, Director of Oversea of 360 Botslab [L-R]

The launch showcased 360 Botslab’s latest innovations in smart home security, featuring Artificial Intelligence (“AI”) driven technology designed to enhance everyday security and convenience for Malaysian households. The extensive innovative range of smart home products, including indoor and outdoor cameras, dash cams, video doorbells and Kids’ watches will provide Malaysian consumers with reliable and intuitive security solutions that are easy to integrate into their homes for enhanced safety and convenience.

Botslab's Security Cameras — Botslab’s Security Cameras

David Yap Chong Huat, Managing Director of TRIO Sales & Services said, “We’re thrilled to bring 360 Botslab’s AI-powered security products to Malaysia. Our mission is to empower households with intelligent, seamless security solutions. With advanced technology and our commitment to quality, we’re confident these products will bring new convenience and peace of mind. We look forward to seeing Malaysian consumers embrace this new era of smart home security.”

Mars Ma, Senior Vice President of 360 Botslab, said, “Our products have been well received across Asia and we’re excited about the Malaysian market. Featured today is the C221 indoor camera, a 5MP high-definition device with dual-band WiFi and eight AI-powered functions, including cry detection, face recognition, pet detection, and area intrusion alerts. Priced at RM 329, it offers an accessible security solution for families.”

For outdoor monitoring, TRIO introduced the W312 outdoor camera, which offers 360-degree rotational capabilities, 4MP resolution, and full-colour night vision, ensuring precise coverage in any lighting condition. With dual-band WiFi connectivity, IP66 water resistance, and noise reduction technology, the W312 is a durable and reliable choice for outdoor security, priced at RM339. Another highlight was the W302 outdoor camera, featuring dual wide-angle lenses for wider coverage, ideal for larger properties and available at RM449.

Through this partnership, TRIO aims to redefine home security standards in Malaysia, making advanced smart technology accessible to a wider audience. The launch event not only introduces 360 Botslab’s products but also underscores TRIO’s commitment to leading the market with innovative solutions that address the evolving consumers’ evolving needs.

Find out more about the TRIO at https://www.facebook.com/TrioAutoMalaysia/?locale=ms_MY.

Hi-Res Images. Please download hi-res product images from this link.

For media information, kindly contact:
Triven Marketing Group, for TRIO Sales & Services Sdn. Bhd.
Jazzmin Wan
Email: j.wan@swanconsultancy.biz

Mandy Tan
Email: m.tan@swanconsultancy.biz

ABOUT 360 Botslab
360 Botslab, a global AIoT brand under the renowned 360 Smart Life Group, specialises in developing innovative and intelligent security products designed to enhance the safety and convenience of modern homes. Inheriting 360’s security DNA, 360 Botslab integrates cutting-edge AI technology into its extensive range of products, including indoor and outdoor cameras, car dash cameras, doorbell cameras, children’s smart watches, WiFi routers, and robotic vacuums. With a mission to make advanced security accessible and user-friendly, 360 Botslab has established itself as a trusted choice for millions of households worldwide, empowering users to monitor and protect their homes with ease and confidence.

Selayang Mall Environment Week 2024 Unites Community for a Greener Future

Selayang Mall, owned by AmanahRaya Real Estate Investment Trust (REIT) and managed by Knight Frank Malaysia (Knight Frank), launches its inaugural Selayang Mall Environment Week 2024 as part of a bold initiative to champion environmental sustainability. The event gathered over 3,000 attendees, including families, local community groups, and eco-enthusiasts, all committed to celebrating and learning about environmental conservation.

The week-long event offered interactive exhibits, live demonstrations, and educational workshops, making it a key platform for raising environmental awareness in the Selayang community. Highlights included sessions on local biodiversity, eco-friendly practices, and fun hands-on activities for all ages, which sparked meaningful discussions about safeguarding Selayang’s natural heritage.

Selayang Mall donated RM16,000 worth of essential supplies to Pusat Pemulihan Dalam Komuniti in conjunction with Selayang Mall Environment Week.

Supported by renowned local entities, such as the Majlis Perbandaran Selayang, Forest Research Institute Malaysia (“FRIM”), and 99 Wonderland Park, the Environment Week saw the involvement of schools, private organisations, and community advocates. Tunku Rozita Tunku Abdul Malek, Managing Director of AmanahRaya-Kenedix REIT Manager Sdn. Bhd. (“AKRM”), and other key figures, including Dato’ Dr Ismail Haji Parlan, Director General of FRIM, lent their presence and support, underscoring the event’s significance.

Mohd Yusof Tawil, Chairman of Pusat Pemulihan Dalam Komuniti; Nazatul Syima, Head of Operation of AmanahRaya-Kenedix REIT Manager Sdn. Bhd.; Tunku Rozita, Managing Director of AmanahRaya-Kenedix REIT Manager Sdn. Bhd.; Yuen May Chee, Director of Knight Frank Malaysia; Benoit Cazin, Centre Manager of Selayang Mall; Hazwani Izzati, Marketing Manager of Selayang Mall [L-R]

Benoit Cazin, Centre Manager of Selayang Mall, said, “Selayang Mall Environment Week represents our commitment to inspiring positive change. This gathering exemplifies what’s possible when our community comes together for a common cause. Our goal is not only to promote environmental protection but to also position Selayang as a must-visit location with vibrant attractions.”

Beyond awareness, the initiative extended its impact through a substantial donation of RM16,000 in essential supplies to children at Pusat Pemulihan Dalam Komuniti Selayang, underlining Selayang Mall’s broader commitment to social and environmental sustainability.

The success of Selayang Mall Environment Week marks a significant step for community-driven environmental action. The organisers aim to continue building momentum, creating a lasting legacy that encourages a deeper connection with nature and sustainable practices across Selayang.

For media enquiries, please contact:
Hazwani Izzati Khirrudin – Asst Marketing Manager
Email: hazwani.khirrudin@my.knightfrank.com

Noor Atiyya Binti Mahmud
Email: nooratiyya@akrm.com.my

Mandy Tan
Email: m.tan@swanconsultancy.biz

AlphaInvest unveils next-gen ShareInvestor.com platform, accelerates digital innovation to empower investors

AlphaInvest Holdings, a leading regional financial media technology provider, today announced the launch of its redesigned market data platform, ShareInvestor.com, to deliver a more intuitive, interactive and insightful user experience for investors.

The new ShareInvestor.com delivers an enhanced look and feel for seamless navigation

The new ShareInvestor.com represents a leap forward for the Group’s market data business amidst evolving user trends, its key features include:

Enhanced look and feel for seamless navigation
Improved watchlist functionality for easy tracking
Comprehensive portfolio feature with analytics
Advanced data visualisations for easy analysis
Optimised viewing across all devices

Mr Lim Dau Hee, Chief Operating Officer of AlphaInvest, said, “These enhancements are the culmination of many months of development and beta testing, backed by decades of experience in market data tools. The way people are consuming data has changed, with content more readily understood through visualisation instead of just words.”

“Our in-house technology capabilities enable us to deliver unique value-added features such as our volume distribution charts, fundamental data and quote movements, setting us apart from other service providers to empower investors with deeper insights.”

The launch of the new ShareInvestor.com platform coincides with AlphaInvest’s 25th Anniversary and marks a new chapter in its ongoing mission to empower investors by providing them with trusted products and services for informed investment decision-making.

Mr Christopher Lee, Chief Executive Officer of AlphaInvest, said, “The revamp of ShareInvestor.com reflects our continued commitment to provide all our subscribers with the best possible experience and sets a strong foundation for us to introduce new enhancements in the future, including A.I. assisted functionalities.”

“The new ShareInvestor.com is one of many milestones in our growth roadmap as we continue to develop and launch new innovative products to empower investors and expand our reach into ASEAN and Greater China.”

Since its founding in 1999, AlphaInvest has expanded beyond its market data business to establish itself as a leader in investor relations and investor education across the region. The Group operates the largest investor relations network in the region, with a portfolio of more than 700 public listed companies and a reach of over 300,000 people across its platforms.

For media enquiries, please contact:
Waterbrooks Consultants
Wayne Koo, Managing Director
Email: wayne.koo@waterbrooks.com.sg
Phone: +65 9338 8166

About AlphaInvest

>120Employees across SG, MY, TH ID

>700Public-Listed Companies

>300,000Audience Reach across platforms

AlphaInvest Holdings is a leading regional financial services, media and technology company. Founded in 1999 to empower investors, AlphaInvest provides trusted products and services for informed investment decision-making. Its core areas of business span investor relations, market data tools and investor education.

AlphaInvest operates the largest investor relations network in the region, providing online IR services to more than 700 public-listed companies across Singapore, Malaysia, Thailand and Indonesia. Its market leading investor platforms, including digital publications Investor-One, Inve$t and social platform InvestingNote, reach over 300,000 people.

For more information, please visit www.alphainvestholdings.com

Cropmate Berhad Signs Underwriting Agreement with Hong Leong Investment Bank

Cropmate Berhad (“Cropmate” or the “Company”), one of the key players in the fertiliser industry in Malaysia, is pleased to announce that it has signed an underwriting agreement with Hong Leong Investment Bank Berhad (“HLIB”) for its upcoming initial public offering (“IPO”) on the ACE Market of Bursa Malaysia Securities Berhad (“Bursa Securities”).

Mr. Lee Cheng Seng, Executive Director of Cropmate Berhad; Mr. Lee Chin Yok, Managing Director of Cropmate Berhad; Ms. Lee Jim Leng,Group Managing Director/Chief Executive Officer of Hong Leong Investment Bank Berhad; Mr. Lee Cheng Fei, Executive Director of Cropmate Berhad[L-R]

The IPO exercise, as outlined in the Company’s draft prospectus, will involve the public issue of 210.0 million new ordinary shares in Cropmate, representing 28.4% of the enlarged issued share capital, with offer for sale of 50.0 million existing shares, representing 6.8% of the enlarged issued share capital of 738.0 million ordinary shares.

The allocation of the IPO shares will be offered as follows: –

1. Institutional offering of approximately 208.34 million IPO Shares, representing 28.2% of the enlarged issued share capital:

a. 92.25 million IPO shares reserved for Bumiputera investors approved by the Ministry of Investment, Trade and Industry (“MITI”), including 42.25 million new ordinary shares and 50.00 million existing shares;

b. 116.09 million IPO shares allocated to other institutional and selected investors.

2. Retail offering of 51.66 million IPO shares, representing 7.0% of the enlarged issued share capital:

a. 36.90 million IPO shares for application by the Malaysian public via balloting, equally allocated between Bumiputera (representing 2.5% of the enlarged issued share capital) and non-Bumiputera (representing 2.5% of the enlarged issued share capital) investors.

b. 14.76 million IPO shares reserved for application by eligible directors, eligible employees, and persons who have contributed to the success of the Company.

HLIB will act as the Principal Adviser, Sponsor, Underwriter, and Bookrunner, and will underwrite the entire 51.66 million IPO shares offered under the retail offering of the IPO.

Managing Director of Cropmate Berhad, Mr. Lee Chin Yok, commented, “This IPO marks a key milestone in Cropmate’s journey, as we are the first-ever pure-play fertiliser company to be listed on Bursa Malaysia. Partnering with HLIB will help us solidify our market position as an established fertiliser manufacturer in Malaysia. The funds raised will be used to fund our working capital requirements in tandem with our production activities as our business grow, particularly under our specialty fertiliser segment to meet the needs of orchard operators, especially within the growing durian market. These resources will also support upgrades to our production facilities and the establishment of a research and development laboratory to enhance innovation.”

He also added, “The funds will play a pivotal role in helping us expand our manufacturing capabilities, ensuring that we can continue to supply the market with high-quality fertilisers and maintain our establishment in the agricultural sector.”

Group Managing Director/Chief Executive Officer of HLIB, Ms. Lee Jim Leng said: “We are pleased to have played a key role in Cropmate Berhad’s IPO journey. We strongly believe that Cropmate’s listing status will, without doubt, boost its branding and company profile amongst the plantation and orchard owners both in Malaysia and in the region. We are confident that this listing will be a significant step forward for the Company.

The listing of Cropmate on Bursa Securities will also provide a robust platform for the company to embark on its next phase of growth and aligns its long-term vision to solidify its position in fertiliser industry.

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

For more information, please contact:
Jazzmin Wan
Email: j.wan@swanconsultancy.biz

William Yeo
Email: w.yeo@swanconsultancy.biz

A Strategic Union: Public Bank to Acquire a Controlling Stake in LPI and the Teh Family Refines their Equity Position in Public Bank Berhad

– Public Bank Berhad proposes to acquire 44.15% equity interest in LPI Capital Bhd
– The Estate of the Late Tan Sri Dato’ Sri Dr. Teh Hong Piow and Consolidated Teh Holdings Sdn. Bhd. to streamline their equity position and remain as major shareholders of Public Bank

Public Bank Berhad (Public Bank) had on 10 October 2024 entered into a conditional sale and purchase agreement (SPA) with the Estate of the Late Tan Sri Dato’ Sri Dr. Teh Hong Piow (Estate) and Consolidated Teh Holdings Sdn. Bhd. (ConTeh) to acquire in aggregate 175,896,000 ordinary shares in LPI Capital Bhd (LPI), representing approximately 44.15% equity interest in LPI, for a total cash consideration of RM1.72 billion (Proposed Acquisition).

LPI, a company listed on the Main Market of Bursa Malaysia, has been in operations for over 60 years and is mainly involved in the underwriting of general insurance. It currently has 21 branches throughout Malaysia, 1 branch in Singapore and also operates in Cambodia through an associate company.

Speaking at the press conference after the SPA signing ceremony, Tan Sri Dato’ Sri Dr. Tay Ah Lek, Managing Director and Chief Executive Officer of Public Bank said, “The Proposed Acquisition represents a strategic opportunity for Public Bank to further expand its general insurance segment into the Malaysian market through the LPI Group. This will allow the enlarged Public Bank Group to establish an immediate market presence and strong foothold in the general insurance segment in Malaysia as a comprehensive complementary service to its current financial services and Family Takaful offerings.”

He further added that, “The Proposed Acquisition is also in line with our Group’s plans to expand beyond just organic growth but through strategic acquisitions to expand our product and service offerings as evident by our recent completion of the acquisition of Public Bank Securities Vietnam Company Limited which allowed our Group to expand our financial services offering in Vietnam with the inclusion of securities trading services.”

Tan Sri Tay concluded by saying, “This strategic acquisition of LPI Group, a long-established and leading general insurance player in Malaysia, represents a clear and unique opportunity for us to accelerate our vision to move towards a “Universal Banking Model” that offers comprehensive and diverse range of financial and other related products and services under the same group.

With our existing network of over 260 branches located throughout the country, LPI Group would be able to leverage and expand its distribution channels and further grow its general insurance business in Malaysia. In addition, we would also be able to tap into the sales and distribution network of LPI and further expand our reach to cover clients and customers of LPI.

Aside from the mutual cross selling of products and services, Public Bank and LPI will also explore possibilities on developing new integrated products and services catering to our customers’ financial and insurance needs.”

As this is a related party transaction, the Proposed Acquisition is subject to the approval of the non-interested shareholders of Public Bank at an Extraordinary General Meeting (“EGM”) to be held at a later date. Should the Proposed Acquisition be approved at the EGM, Public Bank will be obliged to extend an unconditional mandatory take-over offer (“MGO”) (“Proposed Offer”) for the remaining equity interest in LPI not already owned by it.

It is pertinent to note that Public Bank has received the approval from the Ministry of Finance and Bank Negara Malaysia for the Proposed Acquisition and is expected to complete this corporate exercise in the 1st quarter of 2025.

Barring any unforeseen circumstances, the Proposed Acquisition is expected to be value accretive and contribute positively to the future earnings of the Public Bank Group.

At the same press conference, Teh Li Shian Diona, the youngest daughter of the late Tan Sri Dato’ Sri Dr. Teh Hong Piow also announced that the Estate and ConTeh intends to undertake a restricted offer for sale (“ROFS”) of a portion of their Public Bank Shares, progressively over a 5-year period and will be in compliance with the Financial Services Act.

Diona Teh said, “My father often said that the success of Public Bank was not his alone – it is built on the trust and loyalty of its shareholders and the relentless commitment of its employees, or as he would like to call them his “corporate family”.

“To honour his legacy and to show our deep appreciation and gratitude, we will be undertaking an exercise to distribute a portion of our Public Bank shares at a discount to all employees, directors and eligible shareholders of the Public Bank Group. This initiative aims to ensure that Public Bank remains in the hands of those who have nurtured its growth and success over the years, enabling us to continue building our legacy together.”

She further added that, “Although we will be streamlining our stake, I would like to take this opportunity to reiterate our firm and unwavering commitment to continue as the major shareholders of Public Bank. This is not just a role or title for us – it is an honour and a responsibility that we deeply cherish. We are devoted to upholding my father’s legacy and continuing the stewardship of this esteemed institution.”

“For this, we are deeply grateful to Bank Negara Malaysia and the Ministry of Finance for their trust in us by granting us the approval to continue helming Public Bank. With their support, we will perform our utmost best to lead Public Bank with the same passion, integrity, and vision that has defined the PBB group thus far.”

Issued By: Swan Consultancy Sdn. Bhd. on behalf of Public Bank Berhad

For more information, please contact:
Xinyi Ching
Email: x.ching@swanconsultancy.biz

HeartCore’s Go IPO Client, SBC Medical Group, Begins Trading on the Nasdaq Stock Exchange

Company anticipates Q3 2024 revenue to be between $19 million-$23 million and net profit to be between $4 million-$8 million

HeartCore Enterprises, Inc. (Nasdaq: HTCR) (HeartCore or the Company), a leading enterprise software and data consulting services company based in Tokyo, announced its Go IPO client, SBC Medical Group Holdings Inc. (SBC), has successfully commenced trading under the symbol “SBC” on the Nasdaq Global Market exchange. HeartCore was initially compensated through an aggregate $900,000 in initial fees and warrants to acquire 2.7% of SBC’s common stock, on a fully diluted basis, which equate to $17 million; in total, HeartCore generated $17.9 million in revenue from the SBC deal, with $17 million to be recognized in Q3 2024.

As previously mentioned, of the $17.9 million, HeartCore sold $9 million worth of warrants to a Japanese financial institution during Q1 2024. The Company generated $5.64 million in net sales after paying a referral fee of $3.36 million to So Management Inc. for sourcing the lead. With SBC now publicly traded, HeartCore holds in total $8 million worth of SBC stock.

Pursuant to the initial agreement, the Company assisted SBC throughout the listing process, including the audit and legal firm hiring process, translating requested documents into English, assisting in the preparation of documentation for internal controls required for an initial public offering, providing general support services, assisting in the preparation of the F-1 filing, and more.

Additionally, HeartCore announced the following guidance range for Q3 2024:

Revenue: $19 million-$23 million
Net Profit: $4 million-$8 million

“The SBC Medical Group deal is our biggest Go IPO deal to date, amassing a gross total of $17.9 million in total top line revenue for HeartCore,” said CEO Sumitaka Kanno Yamamoto. “Our team played a vital role in fostering the go public process for our treasured client, and we are very much looking forward to the progress and continued success SBC will create as a publicly traded company on the Nasdaq.

“Furthermore, we are very encouraged by our forecasted financials for Q3 2024, as HeartCore is slated to have its strongest quarter in corporate history. Relative to last year’s revenue for the first nine-months ended September 30, 2023, of $18.5 million, we anticipate generating between $28.1 million and $32.1 million in revenue for the nine months ended September 30, 2024, with a significant profit. We expect this year will be HeartCore’s strongest by far, and we continue to stay laser focused on providing value for our Go IPO clients, in addition to our enterprise software clients.”

For more information, please contact:
Mandy Tan
Email: m.tan@swanconsultancy.biz

OSK Property Welcomes PeopleUp Singapore with Its First Flagship Family Entertainment Concept in Atria Shopping Gallery

PeopleUp takes its first step in Malaysia, supported by Greenwillow Capital Management and Arkwood Trustee (M) Berhad.

OSK Property is excited to announce its partnership with PeopleUp, a leading multi-enrichment and play group founded in 2018 in Singapore. Together, they will introduce a brand-new regional play brand to Atria Shopping Gallery in Petaling Jaya, marking PeopleUp’s FIRST expansion beyond Singapore. This groundbreaking entertainment hub will cater to families and kids, creating a one-stop destination for fun, learning, and holistic family experiences.

1. Ong Ju Xing, Deputy Group Managing Director, OSK Holdings Berhad
2. Samantha Lew Pey Shin, General Manager, Group Retail Leasing, OSK Property Investment
3. Chris Tan Wei Quan, Chief Executive Officer, PeopleUp
4. Loh Wai Keong, Managing Director & Chief Executive Officer, Greenwillow Capital Management[L-R]

The signing ceremony took place at Atria Shopping Gallery and the agreement was executed between OSK Property Investment, Group Retail Leasing General Manager Samantha Lew Pey Shin and PeopleUp Singapore Chief Executive Officer Chris Tan Wei Quan. The event was witnessed by OSK Group Deputy Group Managing Director Ong Ju Xing and Greenwillow Capital Management Managing Director Loh Wai Keong.

PeopleUp has successfully set its footprint in Malaysia, thanks to its regional strategic partners, Arkwood Trustee (M) Berhad and Greenwillow Capital Management. These two companies are backed by key figures, Sunny Yeo, Chief Executive Officer and Managing Director of Arkwood Trustee, and Loh Wai Keong, Managing Director of Greenwillow.

With over 16 thriving subsidiary brands in Singapore, PeopleUp has earned its reputation for delivering innovative, engaging, and memorable experiences for families. Its flagship brands, such as Bouncy Paradise – Asia’s largest inflatable playground – and Dinoland – Singapore’s first immersive and largest indoor dinosaur park with live forest, along with VroomTown, the first mega indoor drive-play city for kids, have welcomed over half a million visitors annually.

Set to open in the first half of 2025, the new expansion will build upon this success, showcasing exciting, family-oriented concepts from Singapore and introducing new experiences tailored to the Malaysian market.

OSK Property Investment Group Retail Leasing General Manager Samantha Lew said “At OSK Property, we are committed to curating spaces that bring value and excitement to the community. Partnering with PeopleUp is an exciting step forward in transforming Atria Shopping Gallery into a choice destination for families. This new play concept will enhance the mall’s position as a leading family-friendly venue, attracting visitors from across the region.”

Chris Tan Wei Quan, Chief Executive Officer of PeopleUp Singapore, expressed his enthusiasm for the expansion: “We are thrilled to bring our unique, holistic approach of family entertainment to Malaysia. The collaboration with OSK Property allows us to share our vision and passion for innovative play and enrichment with a wider audience. We are confident that this flagship will resonate with families and set a new benchmark for family entertainment in the region.”

Anchoring over 60,000 square feet within Atria Shopping Gallery, PeopleUp will see the creation of an exciting new flagship family destination that encapsulates a wide array of fun, entertainment, and learning experiences. The flagship will bring together six key areas designed to cater to every type of play:

Kids & Toddler Play: A safe and engaging environment for younger children to explore.
Sports Play: Promoting active play and physical fitness through dynamic sports activities.
E-gaming and Immersive Play: Combining cutting-edge technology with play for a thrilling digital experience.
Sky Play: Adventure high above the ground with elevated play areas.
Water Park: A fun-filled aquatic adventure for families.
Special Experiences: Unique, curated experiences that will surprise and delight visitors.

In addition to these fresh and exciting concepts, PeopleUp will also introduce its popular Singapore-based attractions to Atria Shopping Gallery, tailoring them to fit the tastes and preferences of the local market.

These zones will offer an all-encompassing mix of physical, mental, and sensory experiences for children of all ages, the new flagship destination will set a new standard for family entertainment in Malaysia.

OSK Property’s strategic partnership with PeopleUp is a testament to the growing demand for family-centric leisure destinations in Malaysia. By combining PeopleUp’s award-winning concepts with OSK Property’s vision, Atria Shopping Gallery hopes to become the top destination for families seeking fun and enriching experiences.

For more information, please visit Atria Shopping Gallery’s website at www.atria.com.my and PeopleUp Singapore’s website at www.peopleup.com.sg

About Atria Shopping Gallery
Atria Shopping Gallery is a transformation of yesterday’s beloved iconic mall in Petaling Jaya to cater to today’s more sophisticated and discerning tastes. The Shopping Gallery’s beautiful interior is inspired by the natural beauty and exquisite forms found in our tropical rainforest, creating a sense of natural opulence and an ambience that is warm and welcoming. Atria strives to offer shoppers a total experience and has in place tenants, activities and an environment that we hope will leave our shoppers feeling relaxed, inspired and enriched.

About the Developer – OSK Property
OSK Property is the property arm of the OSK Group which is a public listed company in Malaysia with an asset size over RM 10 billion. OSK Property is one of Malaysia’s leading property groups that has completed and delivered more than 50,000 properties across Malaysia and Australia. With a diverse portfolio that spans residential, commercial, hospitality, industrial and mixed-use developments, OSK Property is committed to delivering innovative and engaging spaces that enhances the way of life of communities.

With each project, OSK Property continues to seek and prioritize its sustainability strategy incorporating the integration of sustainable design features, minimizing our environmental footprint by incorporating advanced technologies and infusing the natural elements such as shadow play and wind flow, and utilizing environmentally friendly materials to ensure the overall health and well-being of occupants. For further information, visit OSK Property’s website at www.oskproperty.com.my

Issued By: Swan Consultancy Sdn. Bhd. on behalf of OSK Property

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

Asyraf Hakimi
Tel: +60 11-23774173
Email: a.hakimi@swanconsultancy.biz