Category: Exchanges & Software

Nasdaq-Listed AGAPE Forges Ahead with Sustainable Energy Business

Homegrown Nasdaq listed AGAPE ATP Corporation (ATPC or the Company; stock code: ATPC) intends to finance the construction of 50 electric vehicle (“EV”) charging stations by Volt Industries Sdn. Bhd. (Volt Industries) in Pahang as part of the Company’s strategy to develop and offer sustainable energy solutions.

Datuk Tay Say Jim, Dato Sri Dr How Kok Choong, YB Dato’ Mohamad Nizar bin Dato’ Sri Mohamad Najib and Edward Ang Mou Lee [L-R]

ATPC recently signed a Memorandum of Agreement (MoA) with Volt Industries, in which the Company also intends to acquire a 51% stake in Volt Industries, a developer of EV charging stations based in Pahang. ATPC, which was recently listed on Nasdaq, specializes in sustainable global ‘wellness’ ecosystem and the development and production of advanced technology solutions for the energy sector.

The MoA was attended by founder and Chief Executive Officer (CEO) of ATPC Dato’ Sri Dr. How Kok Choong, CEO of Volt Industries Datuk Tan Say Jim, founder and CEO of Oriental Industries Enterprise Sdn. Bhd. Edward Ang Mou Lee and witnessed by Member of the Pahang State Executive Council, YB Dato’ Mohamad Nizar bin Dato’ Sri Mohamad Najib.

Dato’ Sri Dr. How Kok Choong, the founder of AGAPE ATP, said: “Our recent IPO on Nasdaq was just the beginning. This MoA signifies ATPC’s expansion into the sustainable energy space, reflecting our ambitions on both the local and global stages. In forging this partnership with Volt Industries, we’re not merely building charging stations, we’re powering Malaysia’s sustainable future. This partnership underscores our unyielding commitment to spearheading a green transformation on the global stage.”

He explained, “The main purpose of this transformative partnership is ATPC’s strategic venture into Volt Industries, acquiring 51% share, where this acquisition underscores ATPC’s plans to be at the forefront of Malaysia’s EV transformation. This project will be funded privately, with no government subsidies.”

Under the MoA, ATPC will explore the project’s financial viability by securing primary funding as well as seeking additional capital from other avenues. Volt Industries will initiate the project’s groundwork, including acquiring all necessary permits and licenses as well as ensure full compliance with local regulations together with construction work.

Datuk Tan Say Jim, Chief Executive Officer of Volt Industries said, “Our technical expertise spans the entire value chain from design to operations and we see our expertise and strengths complimenting ATPC’s strategies and corporate direction. We look forward to working with ATPC to roll out the 50 EV charging stations across Pahang that will reshape the state’s transportation landscape.”

On the same day, ATPC also signed a MoA with Oriental Industries Enterprise Sdn. Bhd. (“OIE”), a company focusing on cutting-edge EV battery development, with the intent to form a Special Purpose Vehicle Company (SPV) providing and promoting the development of renewable energy in Malaysia. Both ATPC and OIE will hold 50% shares in the SPV.

AGAPE ATP Corporation: [Nasdaq: ATPC], https://www.agapeatpgroup.com/

Artroniq Spearheads Electric Revolution with Offcial Launch of United E-Motor in Malaysia

  • Artroniq Paves the Way For Electric Mobility in Malaysia as the Group Launches United E-Motor, With a Keen Eye on Sustainable Growth, and Enhancing Investors’ Value

Artroniq Berhad (Artroniq), a key contender on the ACE Market, with its’ game-changing move for the Malaysian electric vehicle industry, has introduced the highly anticipated United E-Motor to the Malaysian market. This collaboration with the flagship electric motorcycle brand of Indonesian manufacturer PT. Terang Dunia Internusa (PT TDI) signifies Artroniq’s forward-thinking vision and commitment to sustainable innovations, offering promising investment opportunities.

Mr. Marcus Chin Choon Wei, CFO of Artroniq; His Excellency (H.E) Dato’ Indera Hermono, Ambassador Extraordinary and Plenipotentiary of the Republic of Indonesia to Malaysia; Bapak Henry Mulyadi, Founder of United e-Motor

The launch event, set for 2:00 pm on 30th October 2023 at Pavilion Bukit Jalil’s Piazza, will be more than just a product introduction. Alongside electric motorcycle stunt performances, attendees will experience firsthand the prowess of the TX3000 and TX1800 models. The TX3000 boasts a top speed of 90 km/h and a range of 120 km on a single charge, while the TX1800 charges from 0-80% within just 1.5 hours. Both models epitomize modern convenience with features such as built-in Bluetooth, a dedicated mobile app, and more.

The collaboration between seasoned Indonesian brand United E-Motor and Artroniq Bhd is a testament to Artroniq’s strategic foresight. This partnership, formalized in September 2023, allows Artroniq to not only bring electric mobility to the Malaysian masses but also to integrate United E-Motor’s advanced proprietary technology and assembly processes, further strengthening Artroniq’s position in the market.

Moreover, with Malaysia being the maiden country to welcome this iconic Indonesian brand, Artroniq is slated to open experiential concept stores in three prime locations, amplifying its footprint and accessibility.

Mr. Marcus Chin Choon Wei, CFO of Artroniq, commented, “Today marks a significant stride in Artroniq’s journey towards fostering sustainable electric mobility in the Malaysian market. We’re exceptionally glad to collaborate with PT. Terang Dunia Internusa, a pioneer in this domain. This collaboration not only solidifies our position in the market but also stands as a testament to our commitment towards offering groundbreaking solutions for our stakeholders. I’m confident that our partnership with United E-Motor will unlock unparalleled value for our investors and contribute to a greener future.”

It’s noteworthy that these state-of-the-art electric motorcycles were the chosen mode of transport for world leaders at the 2022 G20 summit. With Artroniq at the helm of this introduction, Malaysian investors and consumers can anticipate a transformative impact on the country’s transportation landscape.

Given the synergy between United E-Motor’s legacy and Artroniq’s robust capabilities, the partnership is poised for exponential growth. Ventures into the manufacturing of electric motorcycle batteries, chargers, and the groundbreaking concept of battery swapping stations highlight Artroniq’s ambition and potential for expansive growth.

As at 27 October 2023, the share price of Artroniq is RM0.85, representing a market capitalisation of RM342.0 million.

Artroniq Bhd: 0038 [BURSA: ARTRONIQ] [RIC: ARTR.KL] [BBG: ARTRONIQ:MK], https://www.artroniq.com/

Malaysia’s Homegrown AGAPE ATP Corporation Makes Landmark Transition to NASDAQ, Excelling on International Stage

AGAPE ATP Corporation (Agape or the Company), a leading player in Malaysia’s sustainable health and wellness sector, announced its successful transition from the Over the Counter (OTC) to Nasdaq stock exchange (Stock Code: ATPC) today at a press conference. This significant step reflects Agape’s strategic progression and ambition on the global stage, positioning them alongside a select group of Malaysian companies to make this transition.

Agape Kuala Lumpur Press Conference, From L-R: Mr. Vincent Tan Inn Shen, Vice President, Corporate Affairs; Dato Sri Dr. How Kok Choong J.P., Chairman and Chief Executive Officer; Mr. Ting Wan Lock, Head of Corporate Finance

Agape, headquartered in Malaysia, is primarily engaged in the sustainable health and wellness industry. The company is renowned for offering a wide range of premium health and wellness products, coupled with advisory services centred around the “ATP Zeta Health Program”. This program aims to address challenges related to the effects of pollution, dietary choices, and lifestyle habits, promoting overall health and a sustained life for its clientele. With a mission that revolves around health means wealth, Agape continues to take giant steps in the sector.

Agape Nasdaq Listing, From L-R: Mr. Adam Pasholk, Managing Director of Network 1 Financial Securities, Inc; Prof. Dr. Taruna Ikrar, Chairman of the Medical Council/Konsil Kedokteran Indonesia, Director of the world medical association and Head of Medical Team, Agape ATP; His Excellency Dato Seri Mohamed Nazri Abdul Aziz, Ambassador of Malaysia to the United States; Dato’ Sri Dr. How Kok Choong, Chairman and CEO of Agape ATP

Founder and Chief Executive Officer Dato Sri Dr. How Kok Choong J.P. comments on this pivotal shift, “The journey to Nasdaq is not just a corporate milestone for Agape ATP; it is a reflection of our relentless dedication to sustainable health, wellness, and the betterment of society at large. Listing on Nasdaq gives us the credibility to expand internationally. It also provides the opportunity to support local Small-Medium Enterprises (SMEs) with untapped potential.”

Dato Dr. How explained that the decision to list on Nasdaq was a strategic move to expose Agape to the international markets, starting with the U.S. and propelling the Company towards Europe and beyond. This leap aligns seamlessly with the Agape’s core mission and aspirations.

He added, “The successful listing on Nasdaq underscores the unwavering trust placed in us by our investors and shareholders. As we tread this new path, we remain firmly rooted in our mission while preparing to secure the immense opportunities that awaits us in the global arena.”

Moving forward, Agape will be setting up an incubator designed to nurture entrepreneurs in the sustainable health and wellness industry. It aims to stimulate the untapped talent within the SMEs thriving in Southeast Asia. Agape will play a vital role as a mentor, providing extensive support for startups, including access to co-working space, essential skills and knowledge, access to international networks, and sustainable finance.

Agape also inked a Memorandum of Understanding today with My Life Center, a distinguished Malaysian wellness center with over four decades of experience in the practice of Green Medicine.

My Life Center specializes in natural prevention and healing, particularly in addressing cardiovascular disease, diabetes complications, and cancer. This strategic collaboration aligns with Agape’s commitment to offering a holistic and personalized approach and addressing the growing demand for personalized preventive and regenerative medicine.

AGAPE ATP Corporation: [Nasdaq: ATPC], https://www.agapeatpgroup.com/

Mercury Securities Group Berhad Debuts on ACE Market

The Group continue to innovate, digitise and expand product and service offerings

Mercury Securities Group Berhad (Mercury Securities or Company), debuted today on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities), opening at RM0.27 per share which represents a premium of 8% over the initial public offering (IPO) price of RM0.25 per share.

[L-R] Datin Chua Suat Khim, Independent Non-Executive Director of Mercury Securities; Mr. Chan Kim Hing, Independent Non-Executive Director of Mercury Securities; Dato’ Baharon Bin Talib, Independent Non-Executive Chairman of Mercury Securities; Dato’ A. Rahman Bin Safar, Non-Independent Non-Executive Director of Mercury Securities; Mr. Chew Sing Guan, Managing Director of Mercury Securities; Ms. Himahlini A/P M. Ramalingam, Independent Non-Executive Director of Mercury Securities

Mercury Securities is listed under the stock name of MERSEC with HKG: of 0285.

Mercury Securities is an investment holding company and through its wholly-owned subsidiary, Mercury Securities Sdn Bhd (a Participating Organisation of Bursa Malaysia Securities Berhad (“Bursa Securities”) and a Recognised Principal Adviser by the Securities Commission Malaysia) (collectively “Group”) is principally involved in the provision of stockbroking, corporate finance advisory services and other related businesses such as margin financing facilities services, underwriting and placement services, as well as provision of nominee and custodian services.

The Group raised a total of RM39.27 million through the IPO, from which RM26.86 million of the proceeds is allocated for margin financing facility services. RM2.88 million is allocated for the enhancement of digitalisation programme and marketing activities for the stockbroking business and operations of the Group. RM4.63 million of the proceeds will be used for working capital purposes while the remaining RM4.90 million is allocated for estimated listing expenses.

Managing Director of Mercury Securities, Mr. Chew Sing Guan said, “I would like to thank the SC and Bursa Securities for their continued stewardship of our capital market. I would also like to thank the entire Mercury Securities team and due diligence working group for their hard work to make today possible.”

Upon its listing on the ACE Market, Mercury Securities will have a market capitalisation of RM223.25 million based on the issue price of RM0.25 per share and its enlarged issued share capital of 893.00 million shares.

Mercury Securities Group Berhad: https://www.mercurysecurities.com.my/

Anglepoint Hosts Companywide and Client Advisory Board Meetings in Las Vegas

Anglepoint, the industry leader in Software Asset Management (SAM) Services for the Forbes 2000, will gather its employees and Client Advisory Board in person for a company-wide strategic offsite at the Park MGM in Las Vegas, NV.

Taking place from September 10th to 15th, Anglepoint in Motion (AIM) brings together more than 160 Anglepoint employees from 27 U.S. states and 12 countries. The week includes Masterclass style workshops and internal team meetings, in addition to providing a time to recognize peer-nominated employees for their exceptional contributions to Anglepoint’s success over the past year. “AIM provides a critical opportunity for our team of experts to deepen relationships and come together to advance companywide initiatives. In the past year we have seen incredible growth and look forward to this time to celebrate our achievements and solidify our strategic goals,” says Anglepoint CEO, Brian Papay.

Hosted concurrently with AIM, Anglepoint will gather the company’s Client Advisory Board (CAB) for the second year in a row. CAB members are executive leaders representing a diverse array of industries fields from financial services to aerospace. Anglepoint’s President and Chairman of the Board Ron Brill summarizes, “These CAB meetings provide Anglepoint with unparalleled perspective to maximize our impact with each client we serve around the world. Their first-hand expertise provides critical feedback and gives us insight into their challenges and needs. Armed with this knowledge, we can continuously evolve our best-in-class services to meet and exceed our client’s ITAM maturity goals.” CAB members lead in-depth discussions on industry trends, align priorities for the coming year and share their insight into how Anglepoint can continue to lead the industry.

ABOUT ANGLEPOINT
Anglepoint is the leading, global provider of IT Asset Management and cloud-managed services, driving cost optimization, risk mitigation, and operational excellence within the software, hardware & cloud licensing estates of the world’s most complex organizations. We deliver end-to-end managed services, including program strategy development, technology selection, and implementation, to the Forbes Global 2000.

Contacts
For media inquiries, please contact: Alison Frederick, Analyst Relations at info@anglepoint.com.
Connect with Anglepoint on LinkedIn, Facebook, Twitter, and at Anglepoint.com.

Contact Information
Alison Frederick
Director of Analyst Relations and Client Experience
info@anglepoint.com

Artroniq Enters Transformative Distribution Agreement with PT. Terang Dunia Internusa

  • Strategic Partnership to Boost Artroniq’s Foothold in the ASEAN Electric Motor Sector

Artroniq Berhad, a key contender on the ACE Market, is thrilled to announce that its wholly-owned subsidiary, Artronic Itech Sdn. Bhd. (AiTech or Distributor), has entered into a transformative Distribution Agreement with PT. Terang Dunia Internusa, the parent company of Indonesia’s renowned United Motors. This landmark deal aims to propel Artroniq and PT. Terang to the forefront of the burgeoning electric vehicle (EV) market while enhancing their reach across the ASEAN economic community.

Marcus Chin Choon Wei, Chief Financial Officer of Artroniq Berhad
[L-R] Marcus Chin Choon Wei, Chief Financial Officer of Artroniq Berhad Hendry Mulyadi, Director of PT. Terang Dunia Internusa (United Motors)

United Motors, a subsidiary of PT. Terang Dunia Internusa, has been an industrial stalwart in Indonesia since its inception in 1971. Transitioning from a spare parts importer to an electric mobility pioneer, the company has launched a diverse line of electric motor products under the United E-Motor brand. Their commitment to electric mobility was further solidified with the opening of a dedicated electric vehicle and bike factory in Curug, Tangerang.

Under this Distribution Agreement, Artronic Itech Sdn Bhd, a wholly-owned subsidiary of Artroniq, is appointed by PT. Terang Dunia Internusa as the exclusive distributor for electric motor products in Malaysia. Products will be purchased in a Completely Knocked Down (CKD) state and assembled at Artronic Itech’s factory in Malaysia.

The signing of the Distribution Agreement was witnessed by Dr. Ir. Budi Karya Sumadi, the Indonesian Minister of Transportation; Dr. Jerry Sambuaga, the Deputy Minister of Trade of Indonesia; Drs Hendro Sugiatno, Director General of Land Transportation of Indonesia; and Mr. Budiharjo Iduansjah, General Chairman of HIPPINDO (Himpunan Peritel & Penyewa Perbelanjaan Indonesia/Association of Indonesian Shopping Centres, Retailers and Tenants).

Marcus Chin Choon Wei, Chief Financial Officer of Artroniq (Link) Mr. Marcus Chin Choon Wei, CFO of Artroniq, commented, “This Distribution Agreement marks a momentous leap forward for Artroniq, a pivotal step in our relentless pursuit of excellence in sustainable transportation and technological innovation. We are committed to not only meeting but exceeding the evolving needs of our customers and partners. This agreement perfectly aligns with our core values of sustainability, quality, and progress. It fortifies our position as a key player in the ASEAN region’s electric mobility sector and underscores our unwavering dedication to reducing environmental impact while driving progress.”

Hendry Mulyadi, Director of PT. Terang Dunia Internusa (United Motors) added, “Artroniq’s unwavering dedication to innovation and sustainability seamlessly complements our strategic vision at PT. Terang Dunia Internusa. We are embarking on a journey that goes beyond mere collaboration; it is a synergistic partnership aimed at shaping the future of sustainable transportation across ASEAN. Together, we will harness the power of technology, innovation, and shared values to drive positive change. This agreement is not just a milestone; it is a testament to our collective commitment to creating a greener, more connected, and sustainable future for the ASEAN region and beyond.”

As at 11 September 2023, the share price of Artroniq is RM0.82, representing a market capitalisation of RM323 million.

Artroniq Bhd: 0038 [BURSA: ARTRONIQ] [RIC: ARTR.KL] [BBG: ARTRONIQ:MK], https://www.artroniq.com/

Indonesia Climate Exchange (ICX) and Dynamik Technologies Brunei establish Green Economy Cooperation for Borneo Economic Community

Indonesia Climate Exchange (ICX) and Dynamik Technologies Brunei Darussalam have entered a strategic partnership to establish a regional carbon market for the Borneo Economic Community. This collaboration aligns with ASEAN’s big plan for integration in developing a green economy in the 5 pillars of ASEAN BAC. This plan manages 3 of the 5 priority pillars: Digital Transformation, Sustainable Development and Trade & Investment Facilities.

Tengku Irvan Bahran, Komisaris Indonesia Climate Exchange (ICX); Puan Haslina Taib, CEO Dynamik Technologies; Megain Widjaja, CEO Indonesia Cliate Exchange (ICX); Juan Permata Adoe, Wakil Ketua Umum Kadin Bid Perdagangan (L-R) at signing for Borneo Economic Community Cooperation. (Image: ISX).

The signing of this collaboration, which was signed by Megain Widjaja, CEO of the Indonesia Climate Exchange (ICX) and Puan Haslina Taib, CEO of Dynamik Technologies, took place in Jakarta on Tuesday 5 September 2023.

The collaboration integrates ICX trading technology and Dynamik Technologies for a carbon trading platform and other climate instruments. This aims to harmonise trading standards and technological interoperability to create a credible regional market and carbon credits that can be transacted inclusively. In the ASEAN regional plan, carbon markets and climate instruments have an important role in efforts to reduce emissions.

ICX CEO Megain Widjaja said, “This collaboration is certainly an honour for ICX because it is a matter of trust from Brunei Darussalam. This integration between countries certainly strengthens the synergy of the Borneo Economic Community by creating a green economic cluster, especially for the regional carbon market.”

The Borneo Economic Community aligns with the plan for the National Capital of the Archipelago to be located in Borneo. IKN Nusantara was built based on the green city ideology, where the infrastructure supporting the economy is built by considering sustainability factors, harmonization with the environment and renewable energy sources. The need to balance emissions in Borneo is a priority for the countries on the island.

Puan Haslina Taib, CEO of Dynamik Technologies said, “Recognizing the Heart of Borneo and the potential for Borneo to be the global hub for the world’s green economy, the creation of a regional carbon market through modern trading technology platforms will enable and facilitate businesses in the region to easily participate and access the carbon market.”

Megain Widjaja added, “Of course, this is just the beginning of the many collaborations that will be carried out in the ASEAN region. We are happy to start earlier and at the same time proud that Indonesian technology can be integrated globally. We hope this effort can support the big plans of other ASEAN countries in reducing Nationally Determined Contribution (NDC) emissions and as proof that cooperation between ASEAN countries can embody the spirit of making ASEAN the Epicentrum of Growth.”

About Indonesia Climate Exchange:
Indonesia Climate Exchange, a part of the ICDX Group, was established to aid the government’s mission of decreasing carbon emissions. It specializes in trading climate instruments and aims to make decarbonization accessible for all industry participants through convenient transactions, diverse product options, and transparent accountability. Using Indonesia Climate Exchange services enables businesses to seamlessly transition to low-carbon operations. Visit https://www.climate-x.id.

About Dynamik Technologies:
Dynamik Technologies is a leading IT Company in Brunei that thrives in improving service efficiency through citizen and customer-centric systems. Dynamik Technologies is committed to helping deliver digital transformation initiatives supported by a team of highly skilled & globally certified IT professionals in programming, business process re-engineering, data analytics, and infrastructure. Brunei Officials trust Dynamik Technologies for many projects and it is the first and only organization in Brunei with Capability Maturity Model Integration (CMMI) appraisal. Visit: https://www.dynamiktechnologies.com.bn.

For further information:
P Giri Hatmoko, Head of Corporate Communication, Indonesia Climate Exchange.
Midpoint Place, Lt.22-23 Jl. H. Fachrudin No.26 Jakarta Pusat Phone : +62-21 3002778

Faizul Yahya, Marketing Communication, Dynamik Technologies.
Level 7, Design & Technology Building, Anggerek Desa Tech Park, Spg. 32-37, Kg. Anggerek Desa, Berakas BB3713 Negara Brunei Darussalam Phone: +673 238 2238

Artroniq Berhad Secures Pivotal RM9.6 Million E-Commerce and Retail Software Development Project

  • The procurement of a new, high-value project marks a significant milestone in Artroniq Berhad’s diversification strategy and growth trajectory.

Artroniq Berhad, a key contender on the ACE Market, is thrilled to announce the awarding of a substantial new project in the realm of E-Commerce and Retail Software Development. With a project price of RM9,596,000.00, this latest venture is slated to begin in October 2023 and will run over a span of 12 months.

Marcus Chin Choon Wei, Chief Financial Officer of Artroniq Berhad

In collaboration with Kiddie Shoppe, Artroniq’s subsidiary, EA Global Integrated Sdn Bhd (“EAG”), will provide customised services designed to propel Kiddie Shoppe’s retail capabilities to new heights. As part of the services, EAG will offer rigorous training to Kiddie Shoppe’s team, ensuring that they are adept at maximising the functionalities and features of the new software. Additionally, EAG will be responsible for ongoing maintenance and support services, all in accordance with the comprehensive Service Agreement.

Marcus Chin Choon Wei, Chief Financial Officer of Artroniq (Link) Mr. Marcus Chin Choon Wei, CFO of Artroniq, expressed his enthusiasm, saying, “This new venture is an epitome of Artroniq’s agility and adaptability in the ever-evolving technological landscape. The project not only diversifies our portfolio but also aligns perfectly with our long-term growth strategy.”

He further elaborated on the company’s strategic direction: “Securing this project augments our existing ventures and opens doors to new market opportunities. This is yet another steppingstone in the actualisation of our corporate vision. With a fortified balance sheet and a growing portfolio, Artroniq is well-positioned to scale new heights in the foreseeable future.”

The Project’s scope of work is detailed and thorough, necessitating close collaboration between EAG and Kiddie Shoppe. Any amendments to the customised services will require formal agreement, ensuring both parties are committed to achieving the highest standards.

In recent months, Artroniq has been instrumental in driving transformative changes across various sectors, including electric vehicles and now, E-Commerce. The new project provides another testament to Artroniq’s unwavering commitment to innovation and growth.

This high-value procurement adds a new layer to Artroniq’s business model, reinforcing its reputation as a versatile player in the competitive marketplace.

Artroniq Bhd: 0038 [BURSA: ARTRONIQ] [RIC: ARTR.KL] [BBG: ARTRONIQ:MK], https://www.artroniq.com/

SCIB Reports Q4FY2023 Financial Results with Revenue of RM33.3 Million, Gross Profit of RM6.5 Million and Highlights Growth Opportunities

  • Significant Narrowing of Operating Loss Highlights Company’s Resilience and Growth Potential

Industrialised building systems specialist, Sarawak Consolidated Industries Berhad (SCIB), is delighted to announced its financial results for the fourth quarter of fiscal year 2023 (Q4FY2023), reflecting a positive growth trajectory across key financial metrics and strategic business segments.

Ku Chong Hong, Managing Director of SCIB

Revenue for the quarter reached RM33.3 million, a 27% increase from RM26.3 million in Q4FY2022. Gross Profit grew by 73% to RM6.5 million from RM3.8 million in the corresponding period of the previous fiscal year. The Operating Loss was significantly reduced to RM18.2 million from RM47.1 million, and Loss Before Tax (LBT) improved to RM18.5 million from RM47.4 million in Q4FY2022.

In the Manufacturing segment, SCIB reported revenue of RM23.2 million, a year-to-date increase of 10%, with profit before tax of RM2.8 million. The Construction/EPCC segment registered revenue of RM10.2 million, marking a 92% increase year-to-date, with loss before tax narrowed to RM4.5 million. The growth in revenue and profitability across key segments was driven by increased sales volume of foundation piles and the kick-start of two new school projects.

“In the challenging business environment, SCIB has demonstrated resilience and adaptability, successfully navigating the market dynamics,” said Mr. Ku Chong Hong, Managing Director of SCIB. “Our growth this quarter reflects our focus on core capabilities in Engineering, Procurement, Construction, and Commissioning (EPCC) and our ability to supply crucial building materials. The future outlook for SCIB is robust, built upon a comprehensive understanding of the broader economic environment. We are well-positioned to seize growth opportunities in the domestic construction industry and benefit from strategic initiatives and prudent financial management.”

SCIB’s proactive engagement in securing small-to-mid-sized construction projects, Sarawak’s construction sector upswing, and the positive view of China’s recent RM170 billion investment commitment pave the way for enhanced growth opportunities. The Company also fortified its financial position through a private placement that raised approximately RM12.76 million in gross proceeds, underlining SCIB’s prudent financial management.

SCIB’s Q4FY2023 results illustrate a company on the move, aligning with broader economic forecasts and positioning itself well within the evolving economic landscape. The strategic approach and unwavering commitment to sustainable growth set the stage for a bright future.

SCIB’s financial position is further bolstered by an outstanding orderbook for construction contracts, standing robust at RM275 million. This orderbook reflects a promising pipeline of projects and underscores SCIB’s ability to identify and secure valuable opportunities in the market.

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

Mercury Securities Group Berhad to Raise RM39.27 Million from IPO

  • Aims to expand margin financing facility services and enhance digitalisation programme in stockbroking business

Mercury Securities Group Berhad, unveiled its prospectus today in conjunction with its initial public offering (IPO) and listing on the ACE Market of Bursa Malaysia Securities Berhad.

Mr. Chew Sing Guan, Managing Director of Mercury Securities Group Berhad; Ms. Alynn Lim Geok Lian, Deputy Chief Executive Officer of Public Investment Bank Berhad

Mercury Securities is an investment holding company and through its wholly-owned subsidiary, Mercury Securities Sdn Bhd (a Participating Organisation of Bursa Malaysia Securities Berhad and a Recognised Principal Adviser by the Securities Commission Malaysia) (collectively “Group”) is principally involved in the provision of stockbroking, corporate finance advisory services and other related businesses such as margin financing facilities services, underwriting and placement services, as well as provision of nominee and custodian services.

The IPO is projected to raise RM39.27 million via the issuance of 157.09 million shares at the issue price of RM0.25 per share. The proceeds will be allocated in the following manner:

  • RM26.86 million used for margin financing facility services;
  • RM2.88 million used for enhancement of digitalisation programme and marketing activities for the stockbroking business and operations of the Group;
  • RM4.63 million for working capital; and
  • RM4.90 million for estimated listing expenses.

Managing Director of Mercury Securities, Mr. Chew Sing Guan said, “We plan to leverage this listing to continue to innovate, digitise and expand our product and service offerings. With our diverse range of products and services that we now offer, which include stockbroking, corporate finance, proprietary trading, margin financing and research advisory, custodian and nominee services, we are embarking on a journey that is not just a corporate milestone, but a springboard for our group to reach higher and deeper into the capital market.”

He added, “Mercury has been profitable every single year since it started operations in 1992, despite the ups and downs of the stock market. We will be the first stockbroking company to seek and gain an IPO listing in Bursa in the last 20 years. As we embark on this new chapter, I wish to thank our talented and dedicated team, and also our clients, new and old, as well as the ones we have yet to welcome. This capital market is ever-evolving and Mercury will endeavour to likewise, and for the better.”

Deputy Chief Executive Officer, Ms. Alyn Lim Geok Lian of Public Investment Bank Berhad (“PIVB”) stated, “Mercury Securities’ long-standing presence has not just fortified their market position but also allowed them to create an enduring client base that acts as a springboard for future growth.”

She added, “This would not have been possible if it wasn’t for the strong leadership of Mr. Chew Sing Guan, the Managing Director of Mercury Securities whom has guided the Group to where it is today. We believe that the Group is in capable hands and will continue to scale greater heights and create more value for all its stakeholders.”

Pursuant to the launch of Mercury Securities’ prospectus, applications for the Public Issue are open from today and will close on 5 September 2023 at 5.00 p.m. Mercury Securities is scheduled to be listed on the ACE Market of Bursa Securities on 19 September 2023.

Upon its listing on the ACE Market, Mercury Securities will have a market capitalisation of RM223.25 million based on the issue price of RM0.25 per share and its enlarged issued share capital of 893.00 million shares.

PIVB is the Principal Adviser, Sponsor, Sole Underwriter and Sole Placement Agent for this IPO exercise.

Photo 1 [L-R]
1. Mr. Chew Sing Guan, Managing Director of Mercury Securities Group Berhad
2. Ms. Alynn Lim Geok Lian, Deputy Chief Executive Officer of Public Investment Bank Berhad
( https://photos.acnnewswire.com/20230828.SIMY1.jpg )

Photo 2 [L-R]
1. Ms. Himahlini A/P M. Ramalingam, Independent Non-Executive Director of Mercury Securities Group Berhad
2. Datin Chua Suat Khim, Independent Non-Executive Director of Mercury Securities Group Berhad
3. Dato’ Baharon Bin Talib, Independent Non-Executive Chairman of Mercury Securities Group Berhad
4. Mr. Chew Sing Guan, Managing Director of Mercury Securities Group Berhad
5. Ms. Alynn Lim Geok Lian, Deputy Chief Executive Officer of Public Investment Bank Berhad
6. Dato’ A. Rahman Bin Safar, Non-Independent Non-Executive Director of Mercury Securities Group Berhad
7. Mr. Chan Kim Hing, Independent Non-Executive Director of Mercury Securities Group Berhad
( https://photos.acnnewswire.com/20230828.SIMY2.jpg )

Mercury Securities Group Berhad: https://www.mercurysecurities.com.my/