Finance Archives - Page 14 of 75

Varia Reports Strong Q4 FY2024 with RM65.78 Million in Revenue with PBT of RM1.99 Million

Varia Berhad (Varia or the Group), an experienced player in the field of construction and property development, is pleased to announce its financial results for the fourth quarter of the financial year 2024 (Q4 FY2024), demonstrating substantial growth and continued momentum from previous quarters. Varia’s revenue for Q4 FY2024 surged to RM65.78 million, showcasing a 1,654% increase compared to a negative revenue of RM4.23 million in corresponding year’s quarter (Q4 FY2023), primarily driven by the successful integration of Pembinaan Teguh Maju Sdn Bhd (PTM) and strategic leadership initiatives, highlights the new management’s effectiveness in steering the Group towards sustainable growth.

Datuk Benson Lau, Managing Director of Varia

The Group reported a Profit Before Tax (“PBT”) of RM1.99 million in Q4 FY2024, a 33% increase from a PBT of RM1.49 million in the same period last year. This robust performance was primarily driven by the construction segment, which continues to benefit from the full integration of PTM.

The construction segment generated RM58.62 million in revenue and RM5.90 million in PBT, with key contributions from projects such as Perkeso, Pulau Indah, and Kuarters Hospital Pulau Pinang (“KHPP”). For property segment, Taman Arowana Phase 1, 106 units of single-storey development project generated revenue of RM0.35 million and a gross profit of RM0.05 million.

For the twelve months ended 31 March 2024 (“12M FY2024”), Varia’s revenue stood at RM148.31 million, a remarkable 404% increase from RM29.41 million in the corresponding period of the previous year (“12M FY2023”). The Group achieved a PBT of RM8.39 million for 12M FY2024, a substantial turnaround from a Loss Before Tax (“LBT”) of RM10.81 million in 12M FY2023.

Datuk Benson Lau, Managing Director of Varia, remarked, “The strategic acquisition of PTM and the successful execution of significant projects have been pivotal to Varia’s outstanding financial performance in Q4 FY2024. Our revenue growth and improved profitability highlight our capability to deliver on our strategic goals. We are optimistic about sustaining this momentum as we continue to explore new opportunities within the construction and property development sectors.”

Looking forward, Varia is poised for continued growth, bolstered by PTM’s diversified order book valued at RM1.10 billion, which includes a mix of building construction and mechanical and electrical (M&E) projects. On 29 January 2024, Mewah Kota Sdn Bhd, a wholly-owned subsidiary of Varia, was awarded a Letter of Award from Kator Construction Sdn Bhd for the “Rancangan Tebatan Banjir Sungai Klang di Seksyen 25 Shah Alam, Daerah Klang, Selangor” project. This project, valued at RM94.86 million, will span 60 months, commencing on 1 February 2024.

Varia Berhad https://stella-holdings.com.my/

Legend Capital Portfolio Company Qunabox Group Lists on the Main Board of the HKEX Successfully

On May 27, Legend Capital’s portfolio company, Qunabox Group (HKG: 0917), was successfully listed on the main board of the Hong Kong Stock Exchange with an opening price of HKD33 per share, a 32% increase from the issue price of HKD25 per share.

Founded in 2013, Qunabox Group is an AIoT marketing service provider focusing on fast-moving consumer goods (“FMCG”). Through utilizing its broad network of vending machines with interactive marketing functions, Qunabox Group provides target consumers with convenient and interesting experience in testing and accessing FMCG that it served, while successfully soliciting and completing necessary interaction and feedback.

As of December 31, 2023, Qunabox Group operated 7,543 vending machines in 22 cities in China including all the tier one cities and many new tier one cities. Substantially all of Qunabox Group’s vending machines are located in commercial properties with an aim to cover the major consumer groups of FMCGs, and by attracting consumers for interaction and converting them into users of their online platform “Quna” with a combination of online and offline channels, Qunabox Group had approximately 15.9 million AAUs in 2023. According to CIC, it provided marketing service to 472 brand customers for approximately 1,400 SKUs of FMCG products, including products from 74 emerging brands among the top 100 emerging brands in the industries of beverages, food and daily necessities in China.

Legend Capital invested in Qunabox Group in 2016 and has accompanied the company in its development from a vending machine-style outdoor marketer to a comprehensive marketing service provider integrating AI technology, IoT technology, and interactive sensing technology. After the investment, Legend Capital actively helped the company improve its strategic management and organizational management capabilities, and provided the company with value-added services in multiple dimensions such as business connection, finance, legal compliance and talent recruitment.

Legend Capital said: “Qunabox Group represents an upgrade of consumer services driven by technological innovation. By utilizing various AIoT technologies, it has transformed traditional low-efficiency free trial marketing services into a new generation of service model that is interesting for consumers, data-driven for brands, and significantly improves efficiency for the industry. With the advancement of large-scale AI models, Qunabox Group will become the best platform for AI applications in digital marketing. At the same time, Qunabox Group will continuously expand into overseas markets and enhance its global presence. The team has achieved remarkable achievements under the leadership of the company’s chairwoman, Ms. Yin Juehui, one of the rare Chinese entrepreneurs who possess both global vision and strong execution capabilities. Congratulations to Qunabox Group on its successful listing in Hong Kong.”

About Legend Capital
Founded in 2001, Legend Capital is a leading VC&PE investor focusing on the early-stage and growth-stage opportunities in China, with offices across Beijing, Shanghai, Shenzhen, Hong Kong, Seoul and Singapore.

It currently manages USD and RMB funds of over US$10 billion in commitments, and has invested in around 600 companies, covering technology, healthcare, consumer, enterprise service and intelligent manufacturing sectors. Rooted in China, Legend Capital participated in the rise of many world-leading companies by solid investment coverage and systematic post-investment value-add. Over the years, Legend Capital has also become a widely recognized name in bridging key resources in China and overseas through cross-border activities, and a valuable partner to Chinese and overseas investors.

Legend Capital values long-term sustainable investment and incorporates ESG into its long-term development strategy. As a UNPRI signatory since November 2019, Legend Capital is among the first group of top VC/PE firms in China to join the initiative.

For more information, please visit www.legendcapital.com.cn/index_en.aspx and follow us on LinkedIn @Legend Capital.

The article is distributed by Ever Bloom (HK) Communications Consultants Group Limited on behalf of Legend Capital.

For further information, please contact:
Ms. Orianna Ou / Ms. Arina He
Tel: +852 3468 8171
Email: legendcapital.list@everbloom.com.cn

Siab Holdings Berhad Sees Financial Performance Turning Positive in Q1 FY2024

Siab Holdings Berhad (Siab or the Company), an established player in Malaysia’s construction industry, is pleased to announce its financial results for the first quarter ended 31 March 2024 (Q1 FY2024) with 104.7% improvement in Profit After Tax (PAT) of RM0.11 million as compared to the Loss After Tax (LAT) of RM2.33 million from the previous year’s corresponding quarter (Q1 FY2023).

Siab reported a Profit Before Tax (“PBT”) and PAT of RM0.11 million for Q1 FY2024, reversing the Loss Before Tax (LBT) and LAT of RM2.31 million and RM2.33 million respectively, from Q1 FY2023. The loss recorded in Q1 FY2023 was mainly attributable to lower profitability from ongoing projects due to elevated cost of construction materials and higher defect rectification cost incurred for completed projects.

For Q1 FY2024, Siab recorded a revenue of RM26.26 million, compared to RM36.84 million in Q1 FY2023. The decline in revenue is primarily due to lower levels of construction activities in ongoing projects. However, the Company achieved a gross profit of RM2.17 million, a significant improvement from the gross loss of RM0.20 million in the first quarter of 2023.

Mr. Ng Wai Hoe, Group Managing Director of Siab Holdings Berhad said, ” We are positively looking forward to achieving more improved results in the coming quarters. Our focus on cost control and operational efficiency has significantly improved our financial performance. We remain committed to delivering better value to our stakeholders and supporting the growth of Malaysia’s construction industry.”

To recap, Siab has recently signed an Underwriting Agreement with M & A Securities Sdn. Bhd. and NewParadigm Securities Sdn. Bhd. This supports the acquisition of Taghill Projects Sdn. Bhd. (“Taghill”), a construction project and contract management consultancy company. Taghill boasts a robust order book valued at RM1.31 billion and has committed to a profit guarantee of at least RM24.00 million for the financial years 2024 and 2025.

The Company managed to turnaround its financial performance before the acquisition exercise is complete. With Taghill, Siab is in a strong position in tendering projects, enhancing the success rate and catering for a more diverse range of projects.

Looking forward, Siab is optimistic about the prospects of the Malaysian construction industry, which is projected to grow by 6.8% to RM60.49 billion in 2024, driven by resilient domestic expenditure and improvement in external demand. The 2024 Budget, with a record allocation of RM99.00 billion for development expenditure, highlights the government’s focus on home ownership with RM2.47 billion allocated for housing projects. Siab’s orderbook stood at RM314.48 million as of 31 March 2024 and Taghill’s orderbook valued at RM1.31 billion, the Company is well-positioned to capitalise on these opportunities.

Propel Global Posts 166.1% Increase In Revenue For Q3 FY2024

Group’s Healthy Cash Flow is Well-Positioned to Undertake Internal Funding for Future Projects

PROPEL GLOBAL BERHAD (Propel Global or the Group), a provider of oil and gas (O&G) services, today announced its financial results for the third quarter of fiscal year 2024 (Q3 FY2024). The Group recorded an impressive revenue of RM65.8 million, marking a significant increase of 166.1% from RM24.7 million in the corresponding quarter of the previous year (Q3 FY2023).

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

The Group reported a loss before tax (“LBT”) of RM2.1 million for Q3 FY2024 compared to a profit before tax (“PBT”) of RM0.9 million in Q3 FY2023. This decline is primarily attributed to higher corporate administrative expenses such as professional charges and staff costs. The expenses in Q3 FY2024 included the charge for the share-based payment/share grant, and the incentive bonus payment. These expenses are essential for retaining and investing in human capital as the Group is mostly service-driven, hence, people are the key assets.

In the O&G segment, revenue reached RM30.1 million and PBT stood at RM3.3 million, reflecting an increase from RM12.1 million and RM2.7 million respectively in Q3 FY2023. This growth is driven by ongoing projects such as the Engineering, Procurement, Construction & Commissioning (“EPCC”) projects and the Marine Heating Ventilation and Air-conditioning (“HVAC”) projects.

The Technical Services segment also reported strong performance with revenue of RM33.5 million and PBT of RM0.6 million in Q3 FY2024, compared to RM12.6 million and RM1.1 million respectively in Q3 FY2023. The increase in revenue is mainly contributed by a construction project of an electronics factory in Chuping, Perlis, although the profit margin from existing projects was lower than the short-term projects in the previous year.

The newly introduced Information and Communications Technology (“ICT”) segment contributed RM2.2 million in revenue and RM0.8 million in PBT, showcasing the Group’s strategic diversification and adaptability.

Additionally, Propel Global maintained a healthy cash position with cash and cash equivalents at the end of the period at RM20.3 million for the nine months ended 31 March 2024, well positioning the Group to undertake internal funding for future projects.

Ms. Angeline Lee, Executive Director / Group Chief Executive Officer of Propel Global commented, “Our Q3 FY2024 results reflect our commitment to strategic growth and adaptability in a dynamic market environment. The significant increase in revenue and our healthy cash flow position demonstrate our ability to capitalise on new opportunities and execute our projects effectively. As a new management team, we are focused on leveraging our strengths and pursuing sustainable growth initiatives to enhance value for our stakeholders.”

She added, “A healthy cash position ensures that we can meet our financial obligations on a timely basis, seize opportunities, and invest in people and technologies. With our healthy cash flow, we are capable of continuing to drive further growth for Propel Global.”

Moving forward, Propel Global will focus on completing existing projects while consistently bidding for new ones to drive sustained growth. The new management team is committed to strategic realignment and operational efficiency, setting a clear distinction from previous management approaches.

EPB Group Berhad Receives Bursa Securities’ Approval For ACE Market Listing

A New Chapter for EPB Group Berhad, Sets to Capitalise Growth Opportunities Through IPO Exercise

EPB Group Berhad (EPB) and its group of companies (the Group), an established one-stop food processing and packaging machinery solutions provider, is pleased to announce that EPB has received the approval from Bursa Malaysia Securities Berhad (Bursa Securities) to list on the ACE Market of Bursa Securities. The listing exercise, is set to offer a total of 111,570,000 IPO shares, representing approximately 29.99% of the enlarged issued share capital upon listing of 372,000,002 ordinary shares, in the upcoming initial public offering (IPO) of the Group.

Mr. Yeoh Chee Min, Managing Director of EPB Group Berhad

The Group, having initiated its operations since 1992, offers a comprehensive solution in the design, customisation, fabrication, integration, and automation of production lines, alongside the trading and manufacturing of flexible packaging materials as well as trading of cellulose casings, catering to the diverse needs of the food industry.

According to EPB’s prospectus exposure for the IPO, the listing exercise involves the public issue of 71,570,000 new ordinary shares, or 19.24% of the enlarged issued share capital upon listing with an offer for sale of 40,000,000 ordinary shares, or 10.75% of the enlarged issued share capital upon listing.

The IPO shares will be offered in the following manner:

1. Public Issue of 71,570,000 new ordinary shares, representing 19.24% of the enlarged issued share capital upon listing:
a. 19,570,000 new ordinary shares, or 5.26% of the enlarged issued share capital upon listing will be made available for application by the Malaysian public via balloting, of which 50% of this allocation representing 9,785,000 new ordinary shares shall be made available to Bumiputera public investors;

b. 21,196,000 new ordinary shares, or 5.70% of the enlarged issued share capital upon listing will be reserved for application by the eligible directors, eligible key senior management, eligible employees and business associates (including any other persons who have contributed to the success of the Group); and

c, 30,804,000 new ordinary shares, or 8.28% of the enlarged issued share capital upon listing will be made available for application by Bumiputera Investors approved by the Ministry of Investment, Trade and Industry (“MITI”) by way of private placement.

2. Offer for Sale of 40,000,000 ordinary shares (“Offer Shares”), representing 10.75% of the enlarged issued share capital upon listing:
a. 15,696,000 Offer Shares, or 4.22% of the enlarged issued share capital upon listing shall be made available to Bumiputera investors approved by MITI; and

b. 24,304,000 Offer Shares, or 6.53% of the enlarged issued share capital upon listing, shall be made available to selected investors.

Mr. Yeoh Chee Min, Managing Director of EPB Group Berhad said, “We are deeply appreciative of the endorsement from Bursa Securities for our IPO on the ACE Market. This significant occasion marks a milestone for our Group’s journey which will enhance our visibility and allow us to expand our footprint in Penang. The IPO serves as a gateway to the capital markets, providing us with the necessary resources to fuel our next phase of growth and innovation, particularly in the realm of robotics integration in the food processing and packaging machinery solutions currently provided to our customers.”

Mr. Yeoh further elaborated on the Group’s growth strategy, “The capital raised through this IPO will be instrumental in realising our expansion plans, including the expansion of our existing factory. This expansion is not just about scaling our operations; it’s about strategically positioning our Group to capture emerging opportunities in the market, thereby reducing our gearing and bolstering our working capital. Our aim is to cement our Group’s status as a frontrunner in providing comprehensive food processing and packaging solutions, driving forward our commitment to excellence and innovation in the industry.”

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

The 9th Quam IR Awards was Successfully Held

Honoring High Transparency and Bilateral Communication, 13 Companies Receive Prestigious Accolades

The award presentation ceremony of Quam IR Awards 2023 (QIRA or The Awards) successfully took place on 24 May, 2024 at Four Seasons Hotel Hong Kong, recognizing investor relations teams that keep pace with the times in a rapidly changing environment, as well as outstanding enterprises with excellent sustainable development management.

Management of Quam Plus Financial Group, including Ms. May Mak, Chief Financial Officer (third from the left), Dr. Army Yan, Chief Investment Officer (sixth from the left), and Mr. Christopher Tang, Chief Executive Officer of Quam Asset Management Limited (third from the right) took picture together with award presenters and representatives of awarded companies.

Transparent and Fair Corporate Disclosure Drives Healthy Financial Markets
Fairness and transparency in information disclosure to the public are very crucial factors that the public considers when making investment decisions. Beyond just enhancing public understanding of the company, this also helps drive the healthy development of the financial markets. Quam IR Awards is proud to recognize and reward the very best listed company in investor relations industry. The winners of the QIRA have opened the door of communication through diversified channels, representing the tact and professionalism of investor relations. The keen enthusiasm for the 9th Quam IR Awards can be seen from the entries. A total of 13 companies have differentiated themselves from their competitors to won the Awards.

Special Awards Recognizing Sustainable Development Achievements
To recognize the performance and contributions of organizations in implementing sustainable development goals, Quam IR has partnered again this year with Hong Kong Sustainability Strategic Advisory Limited (HKSSA), an advisory firm focusing on enterprises’ abilities of their sustainable development, to professionally select the winning companies in the “Sustainable Development Category” awards to commend enterprises that have demonstrated outstanding overall performance in ESG aspects.

In addition, three special awards have been featured, including “Sustainable Development Category – The Best Report of the Year”, “Sustainable Development Category – Carbon Management”, and “Sustainable Development Category- The Best Approach of Carbon Management of the Year”. These awards aim to shine a spotlight on companies that have demonstrated exemplary performance in environmental protection, particularly in energy conservation, and carbon reduction initiatives.

Investor Relations Prominence Accentuated in Volatile Macroeconomic Climate
Ms. May Mak, Chief Financial Officer of Quam Plus Financial Group, said at the opening remark “Our investors are more than financiers; they are our partners who share our vision and support our growth. We value their trust and understand the significance of transparent and considerate relationships. This is why investor relations plays a crucial role in fostering transparency, trust, and effective communication between our company and its investors.”

Dr. Army Yan, Chief Investment Officer of Quam Plus Financial Group, said “2023 was another turmoil year for the Hong Kong market amidst continuing geo-political conflict. PRC policy changes and high interest rate. While all other major markets recorded increases in 2023, HSI was down 13.8%. In the times of market uncertainty, the role of IR becomes even more vital.” He then commended all the award winners, saying “Relaxation of southbound stock connect and increasing interest from the west have seen our market rebounded. The share price of all of our winners have performed well. Together, let us forge ahead, embracing the challenges and opportunities that lie ahead.”

Steadfast Support from Industry Peers and Media Allies
Quam IR was pleased to invite Mr. Robert Lee, Member of the Legislative Council – Functional Constituency (Financial Services), Dr Alvin Ho, CFA. President of CFA Society Hong Kong, Dr. Gordon Tsui Luen-on Permanent Honorary President, Hong Kong Securities Association and Prof. Yan Xu, Associate Director of Center for Business Strategy and Innovation, The Hong Kong University of Science and Technology as our guests of honour to witness such grand occasion.

The 9th Quam IR Awards came to a successful conclusion, thanks to our supporters in the business community, media friends and sponsors in Hong Kong and mainland China. Our supporting media partners include The Chamber of Hong Kong Listed Companies, The Hong Kong Independent Non-Executive Director Association, CFA Society Hong Kong, Ming Pao, Caiguu, FX168 and FX678. Quam IR is grateful for their support, which make Quam IR Awards 2023 a success.

The list of awardees for Quam IR Awards 2023 (In alphabetical order of company name):

Website of Quam IR Awards 2023: https://eventedm.tonghaiir.com/QIRA2023-24/

For enquiries,
Quam IR
Marketing & PR contactï¼š
Ms. Mandy Lo, T: 2217-2753, Email: mandy.lo@quamgroup.com
Ms. Charlie Chan, T: 2217-2504, Email: charlie.chan@quamgroup.com

Spritzer’s ‘Plastic Reimagined’ inspires exciting ideas whilst giving new life and uses to recycled plastic

Upcycling art and homeware exhibition showcases novel and useful ways recycled plastics can add function and interest to our lives whilst promoting greener habits

Spritzer, Malaysia’s leading mineral water brand, is excited to present “Plastic Reimagined,” an interactive and educational experience to inspire Malaysians to see plastic waste in a new light and raise awareness about recycling. Visitors to the 5-day event will have the opportunity to get up-close and personal with upcycled items and participate in a variety of exciting activities.

Second life of Recycled Plastic Bottles Process

This immersive event will be happening from May 22nd to 26th, 2024, at IOI City Mall in Putrajaya. Event highlights include the Spritzer upcycling art exhibition and a series of engaging activities designed to inform the public about the importance of recycling and the potential second life of recycled plastics.

Spritzer’s ‘Plastic Reimagined’ event represents a bold step towards a future rooted in sustainability and circularity, particularly in encouraging individuals to view plastic waste as a resource rather than refuse. By showcasing creative recycling methods and the potential of plastic, the event aims to transform the perception of waste, especially plastic waste, and demonstrate how every piece of plastic can be given a second life by turning it into something beautiful or functional. The ultimate goal of the campaign is to foster sustainable mindsets among Malaysians.

Spritzer’s goal is to become a fully circular brand by 2030 and the company has been actively seeking new ways to integrate sustainable practices into their business and lifestyle. They are also leading innovation in packaging by using recycled materials (rPET), with the packaging being 100% recyclable. ‘Plastic Reimagined’ is part of Spritzer’s ongoing efforts to change perceptions and aims to facilitate a shift towards more eco-friendly mindsets, where every piece of plastic has a purpose and a second life.

To that end, visitors to the ‘Plastic Reimagined’ event can look forward to a diverse range of activities and exhibits, including:

Plastic Bottles Recycling: Bring any 3 used plastic items, such as Spritzer bottles, to recycle and receive a complimentary Spritzer tote bag.
Exploring the Second Life of Recycled Plastic & Interactive Showcase: Learn how recycled plastics are processed and upcycled through engaging displays, providing a first-hand look at how plastics are transformed.
Succulent Planting Workshops: Learn sustainable practices through succulent planting workshops using recycled materials to incorporate eco-friendly techniques at home and in the garden.
Upcycling Art Exhibition: Experience stunning art installations made from recycled Spritzer plastic bottles by homegrown artists, showcasing the endless creative possibilities of upcycling. The featured artists include:
- CO2_karbondioksida by Celine Tan & Oscar Lee: Husband-and-wife duo from Muar, Johor. Celine Tan and her husband, Oscar Lee, created the Co2 art collective in response to the urgent need to raise awareness about the significance of producing less waste for the welfare of the earth. They are renowned for constructing colossal recycled marvels.
- Artsy Daphy: Celebrated for her vibrant works fusing traditional and contemporary styles, Artsy Daphy explores local heritage while promoting environmental awareness.
- Mereka by Biji-Biji Group: Mereka designs and implements training programs to inspire and equip future leaders in various industries. At the core of Mereka is a commitment to sustainability, incorporating eco-friendly practices and technologies that support innovative projects and environmental sustainability.

The ’Plastic Reimagined’ campaign is part of Spritzer’s ongoing efforts to drive positive change and contribute to a more sustainable future for Malaysia. By engaging the community through interactive experiences and thought-provoking art, the brand aims to shift mindsets and behaviours towards a more conscious and responsible approach to plastic waste management.

Plastic Reimagined is open to the public from 22nd to 26th May between 10AM and 10PM at the Ground Floor, West Court of IOI City Mall in Putrajaya

For more information and updates on “Plastic Reimagined,” visit Spritzer Mineral Water Malaysia.

Please download the high-res images from this link.

About Spritzer:
Established in 1989, Spritzer Group has been a pioneer in providing Malaysians with natural mineral water sourced from a 440-acre green rainforest. Committed to innovation, Spritzer Group leads the Malaysian bottled water industry through manufacturing, distribution, marketing, and sales of its diverse product line. From renowned natural mineral water to refreshing non-carbonated fruit-flavoured drinks, each product is carefully crafted to meet consumer needs.

Comprising eight business subsidiaries, Spritzer Group specializes in the production and distribution of silica-rich natural mineral water, sparkling natural mineral water, distilled drinking water, carbonated fruit-flavoured drinks, and non-carbonated fruit-flavoured drinks.

With over 30 years of experience, Spritzer Group is Malaysia’s largest and only listed bottled water producer. For more information, please visit www.spritzer.com.my.

For media enquiries please contact:
Hema Rengasamy
Senior Executive
Narro Communications
T: +6019-718 0410
E: hema@narrocomms.com

Winnie Chin
Head of Public Relations
Spritzer Berhad
T: +6019 553 2663
E: winniecgl@spritzer.com.my

Alta Partners with TRIREC to Unlock Opportunities in Impact Investing for Third Climate-Focused Fund

Alta’s strategic partnership with TRIREC will provide access to the TRIREC Venture II (TVII) fund on its platform to Southeast Asian investors seeking meaningful opportunities to invest in impact investments.
The TVII invests globally in companies focusing on breakthrough areas of growth and innovation in climate tech looking to accelerate the rate of decarbonisation, providing investors the opportunity to participate in the growth of these companies in their nascent stages.

Alta Alternative Investments Pte. Ltd. (Alta), Asia’s leading digital securities exchange for alternative assets, announces its strategic partnership with Singapore-headquartered investment firm focused on decarbonisation as its mandate, TRIREC. The partnership will enable Alta to provide its global community of investors access to the TRIREC Venture II (TVII) fund via its platform and unlock opportunities in impact investing.

The TVII fund aims to invest in portfolio companies that will play a significant role in positively impacting climate change. With a global investment mandate and a focus on APAC, the fund looks to invest in 15 to 18 early-stage portfolio companies. Through TVII, investors can access decarbonisation investments in energy, industries, mobility, building, and food & agriculture verticals, capitalising on the growing demand and substantial global government policy support.

“In recent years, the investment landscape has witnessed a significant shift towards impact investing with the global impact investment market estimated to hit US$4.5 trillion by the end of 2030. At Alta, we endeavour to bring such unique opportunities in alternative investments and private companies that deliver both potentially stellar investment returns, as well as tangible environmental impact. The partnership with TRIREC, the leading global decarbonisation fund, and the introduction of TVII on our platform will look to help investors deploy capital conscientiously while ensuring that their investments can truly create meaningful and lasting change for future generations,” said Benjamin Twoon, Co-founder & Chief Commercial Officer, Alta.

As the world grapples with ever-pressing issues of climate change, impact investing has only become more urgent, picking up momentum in recent years. In Singapore, the Monetary Authority of Singapore launched the Finance for Net Zero Action Plan in 2023 to set out strategies to mobilise financing to catalyse Asia’s net zero transition and decarbonization activities in Singapore and the region.

Melvyn Yeo, Managing Partner of TRIREC added, “We are extremely pleased to partner with Alta in our third decarbonisation-focused fund, TVII. Since 2015, TRIREC has seen over 3,000 deals from both inbound and outbound channels, and we have been extremely selective with the firms we invest in. We are witnessing investor interest in emerging areas of growth and innovation in climate tech and are looking forward to tapping into Alta’s extensive network of global investors. This will enable us to extend the opportunities to invest in high-growth companies that are redefining how humanity tackles decarbonisation.”

TRIREC has successfully managed two funds and invested in over 20 decarbonisation companies, three of which have reached unicorn status. Importantly, TRIREC has also achieved successful exits for 3 of its portfolio companies previously. TVII is TRIREC’s third fund, further solidifying its position as one of the most established decarbonisation investment platforms globally.

TVII was launched in late 2023 and has made its first three investments in the following companies:

Immaterial – UK-based company focused on developing novel nanoporous materials and systems for carbon capture and hydrogen storage at ultra-low cost and highest efficiencies.
Fiutur – US-based start-up spun out of Xpansiv, a marketplace for environmental commodities, focused on developing an end-to-end financial data platform that enables a universal tracking system for all environmental commodities and a centralised tracking platform across the ESG asset lifecycle.
Type-1 Energy – US-based start-up harnessing advanced manufacturing methods, modern computational physics and innovations in high-temperature superconductors to develop stellarator systems.

In an era marked by evolving investor demands for liquidity and portfolio diversification, Alta provides diverse investment opportunities in private capital markets, including a wide range of alternative assets. Earlier in January, Alta announced a unique liquidity program for shareholders of Income Insurance Limited, a leading Singaporean insurer.

About Alta
We’re Building the Future of Capital Markets
As Asia’s leading licensed digital securities exchange for alternative investments, we believe that access to capital markets are pivotal in all economies and recognize that our role in building this critical infrastructure goes beyond facilitating trades; it paves the way for entrepreneurship, job creation, financial inclusion, and economic resilience, fostering a brighter future for emerging markets and economies.

Empowering Private Markets
Through our Digital Exchange, we enable the tokenization and digital custody of alternative assets. This end-to-end solution simplifies and expedites the trading of smaller asset blocks, ultimately facilitating access and liquidity in private markets.

Innovative Financial Ecosystem
Our journey has seen us transition from securities trading and distribution of comprehensive products, including equities, private credit, funds, and asset-backed securities (ABS) (representing Real World Assets (“RWA”) like whiskies and wines) to include fund management and digital custody services.

Established in 2016 and headquartered in Singapore, Alta operates offices globally and is the only integrated securities exchange, brokerage, and fund management group in Southeast Asia. Visit us on https://alta.exchange/

About TRIREC
Founded in 2015, TRIREC is a Singapore-headquartered SFDR Article 8 certified global venture capital investment firm. The mission is to drive decarbonisation focused investments for a more sustainable future. Having been pioneers and experienced managers in decarbonization, we have witnessed the progression of climate technology from its infancy to its current state of advancement.

TRIREC benefits from its robust ecosystem, fostering substantial deal flow by collaborating with global stakeholders. We invest in companies focused on decarbonisation solutions that actively contribute to the reduction and removal of greenhouse gas emissions. Our portfolio companies span across five decarbonisation verticals: Food and Agriculture, Mobility, Buildings, Industries and Energy. TRIREC will continue to capitalise on its deep and wide roots in Asia, to serve as a natural bridge between the East and West. Find out more about TRIREC’s portfolio and purpose: https://www.trirec.co/

For media inquiries, please contact:
PRecious Communications for Alta
alta@preciouscomms.com

Samurai 2K Aerosol Bags Silver Medal at International Exhibition of Inventions in Geneva, Switzerland

Samurai 2K Aerosol’s Tintatek technology was awarded the Silver Medal amidst stiff competition from over 1000 innovations
Fillable Aerosol Container for mixing, colour matching of paint colours without additional equipment revolutionises aerosol paint industry
Unique participation certificate in the form of a non-fungible token (NFT), enables exhibitors to verify their participation through blockchain technology

Samurai 2K Aerosol Limited (the Company ) (SGX: Y8E), a Company listed on the Catalist board of the Singapore Exchange Securities Trading Limited (SGX-ST) and an innovator in the aerosol paint industry, proudly announces its latest accomplishment – securing a Silver Medal at the prestigious 49th International Exhibition of Inventions in Geneva, Switzerland (the Geneva Exhibition) which was held from 17 April to 21 April 2024.

Mr Ian Ong, Executive Director and Chief Executive Officer (CEO) of Samurai 2K Aerosol Limited with the Silver Medal at the International Exhibition of Inventions Geneva.

The Geneva Exhibition, supported by the Swiss Government and the World Intellectual Property Organization (WIPO), is renowned for showcasing new products ready for commercialisation. This year, the exhibition hosted over 825 exhibitors from 45 countries.

Mr Ian Ong showcasing the Company's Tintatek — Mr Ian Ong showcasing the Company’s Tintatek

The Company’s award-winning innovation, Tintatek, is a fillable aerosol container that allows users to mix paint colours manually without additional equipment. This groundbreaking product promises to revolutionise the aerosol paint industry by significantly enhancing product usability and accessibility.

Ian Ong, CEO of the Company, remarked, “Whether it’s automobiles, marine pleasure crafts, household items, or industrial machinery, the issue of how to repair damaged parts so that the new colour matches the original without any visible discrepancy is a dilemma for many users. I am confident that Tintatek will revolutionise the aerosol paint industry by making colour repair not only more accurate but also more user-friendly and cost-effective.”

Mr Ian Ong added, “Tintatek is nearing the final stages of refinement and will soon be launched in the market. This innovation does not only reflect our dedication to research and development but also aligns with our vision to dramatically enhance the commercial potential of the aerosol industry.”

The Geneva Exhibition also introduced a novel feature this year – a unique participation certificate in the form of a non-fungible token (NFT), enabling exhibitors to verify their participation through blockchain technology, underscoring the event’s commitment to integrating modern technology with traditional inventiveness.

The Company’s participation in the Geneva Exhibition is a testament to its innovative spirit and commitment to pushing the boundaries of the aerosol paint industry.

Reference:
https://links.sgx.com/1.0.0/corporate-announcements/IGVMPS9F8A2MVKCN/5256c177a8470487b0d8bb72e362f0ab63a52adaeeb6e4771380744b417aae59

Issued by Samurai 2K Aerosol Limited

This press release has been reviewed by UOB Kay Hian Private Limited (the “Sponsor”).

This press release has not been examined or approved by the Singapore Exchange Securities Trading Limited (“SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President, who can be contacted at 8 Anthony Road #01-01, Singapore 229957, telephone (65) 6590 6881

About Samurai 2K Aerosol Limited (SGX: Y8E)
Samurai 2K Aerosol Ltd (“SAMURAI®”) has been listed on the Catalist Board of the Singapore Exchange Securities Trading Limited (the SGX-ST) since January 2017. SAMURAI® is a fully integrated aerosol specialist that focuses on the repainting business as well as aftermarket for the automotive refinishing and refurbishing industry.

SAMURAI® aims to be the world’s most respected innovative aerosol system provider and offer the most innovative aerosol systems with the best user enjoyment and to create more job opportunities for all the sprayers in the world.

SAMURAI® regional office is situated in Singapore while research, product development, branding and manufacturing are conducted in Malaysia. Samurai’s products are distributed worldwide to throughout Malaysia, Indonesia, Thailand, Philippines, Vietnam, Cambodia, UK, USA, Singapore, and India. Its range of products includes Truck Bed Liner, Epoxy Marine Surface Primer, Marine Coating, Boat Deck Granular Textured Epoxy Primer, Automobile Body Epoxy Primer etc.

For more information, please visit our official website at www.samurai2kaerosol.com.

Media Contact:
Samurai 2K Aerosol Limited
Ms. Saveena Prabakaran
Legal Cum Relation Executive
Email: saveena@samuraipaint.jp

M&A Securities and NewParadigm Underwrites Rights Issue with Warrants for Siab Holdings Berhad’s Acquisition of Taghill

Siab Holdings Berhad (Siab or the Company), an established player in Malaysia’s construction industry, is pleased to announce its plans to raise approximately RM103.98 million through private placement, of which RM12.00 million has been completed on 28 December 2023, and rights issue with warrants. These funds will be used to finance the acquisition of Taghill Projects Sdn. Bhd. (Taghill). The rights issue with warrants, valued at RM91.98 million, will be underwritten by M & A Securities Sdn. Bhd. (M & A Securities), the Principal Adviser, Managing Underwriter and Joint Underwriter to the Company, as well as NewParadigm Securities Sdn. Bhd. (NewParadigm), the Joint Underwriter to Siab.

Vincent YH Chu, Deputy Managing Director of Taghill Group; Mr. Yap Kek Siung, Executive Director of Taghill Group; Mr. Ng Wai Hoe, Group Managing Director of Siab Holdings Berhad; Datuk Bill Tan, Managing Director of Corporate Finance from M & A Securities; Mr. Charanjeev Singh, Executive Director/ Group CEO from NewParadigm Securities; Mr. Wong Yih Ming, Founder and Managing Director of Taghill Group[L-R]

These efforts support the acquisition of Taghill, a move designed to bolster the Company’s growth trajectory, where the purchase price for Taghill is set at RM122.00 million, to be settled with RM96.00 million in cash and the issuance of 200.00 million new Siab shares at RM0.12 per share as detailed in the circular issued by the Company dated 16 November 2023.

Taghill is a construction project and contract management consultancy company, which has completed 12 major construction projects worth RM1.58 billion, including notable developments like Expressionz Suites and Ceylonz Suites in Kuala Lumpur. Currently, Taghill boasts a robust order book valued at RM1.31 billion and has committed to a profit guarantee of at least RM24.00 million for the financial years 2024 and 2025. Nonetheless, Taghill has a strong orderbook of RM1.31 billion.

Mr. Ng Wai Hoe, Group Managing Director of Siab Holdings Berhad, expressed his excitement by saying, “The integration of Taghill into our operations allows us to leverage on each other’s specialty which will significantly enhances our Company’s overall value and create synergy for us to work together closely over a longer horizon. We appreciate the continuous support and expertise provided by M & A Securities, NewParadigm Securities and our Financial Advisor, Eco Asia Advisory Sdn. Bhd. (“Eco Asia”), in facilitating these transformative initiatives.”

Datuk Bill Tan, Managing Director of Corporate Finance from M & A Securities added, “We are thrilled to assist Siab in these pivotal financial manoeuvres. With the funds raised, Siab is well-positioned to enhance its market presence and seize more opportunities in the dynamic Malaysian construction and property market.”

Mr. Charanjeev Singh, Executive Director/ Group CEO from NewParadigm commented, “The fund-raising exercise and acquisition of Taghill would allow Siab continues its path on becoming the market leading in construction sector in Malaysia. We are truly delighted to be a part of this significant tipping point of Siab.”

The construction industry in Malaysia is expected to expand by 6.8% to RM60.49 billion as supported by broad-based growth across all subsectors. In Budget 2024, the allocation for Development Expenditure (“DE”) stands at RM99.0 billion – which is the largest DE ever to support the significant growth in the local construction industry. One of the most notably initiative includes the Malaysian Government’s focus on home ownership with an allocation of RM2.47 billion, allocated to implement housing projects for the rakyat in 2024. Siab, together with the acquisition of Taghill, is more than ready to support the Malaysian Government ambitious DE in 2024.