Entering a political year in Indonesia in 2024, the Ministry of Investment/ Investment Coordinating Board (BKPM) organized an Investment Forum on Friday (12/08) in Singapore, focusing on the theme “Indonesia’s Investment Outlook 2024 and Green Economic Opportunities.” The forum featured the Minister of Investment/ Head of BKPM, Bahlil Lahadalia, and the Indonesian Ambassador to Singapore, Suryo Pratomo, as key speakers.
Minister of Investment/ Head of BKPM, Bahlil Lahadalia [IMAGE: BKPM]
With an audience of more than 200 forum participants, Minister Bahlil stated that the investment climate in Indonesia is continually growing, and the country remains open to collaborating with investors from Singapore to invest in Indonesia. He emphasized Indonesia’s openness to investors from all countries, not offering special privileges to specific nations.
“Despite facing political events, I am confident that politics wouldn’t hinder investments and the government will keep facilitating business permits through the Online Single Submission (OSS) Indonesia application,” said Bahlil.
Indonesian Ambassador to Singapore Suryo Pratomo added that Indonesia, rich in natural resources, holds great potential. However, he stressed the importance of focusing on environmentally sustainable industries and ensuring well-being for future generations.
“The government is committed to reducing greenhouse gas emissions, promoting renewable energy sources, and preserving internationally recognized natural resources. We have embarked on ambitious steps to become one of the global leaders in the environmentally friendly economy,” emphasized Suryo.
The panel discussion session featured Deputy for Investment Promotion of the Ministry of Investment/BKPM, Nurul Ichwan; Deputy for Economic Affairs of the Ministry of National Development Planning/ National Development Planning Agency (PPN/Bappenas), Amalia Adininggar Widyasanti; Economic Advisor to the Coordinating Minister for Economic Affairs, Reza Yamora Siregar; Maritime and Investment Advisor to the Coordinating Minister, Edo Mahendra; and Chief Economist of Bank Mandiri, Andry Asmoro.
Singapore has been the largest Foreign Direct Investment (FDI) source for Indonesia in the last three years, with significant investments totaling USD 12.1 billion from January to September 2023. Dominant sectors include basic metal industries (USD 11.3 billion), transportation and warehousing, and telecommunications (USD 7.9 billion), as well as real estate, industrial zones, and housing (USD 7.8 billion).
The primary investment destinations are DKI Jakarta (USD 12.4 billion), Central Sulawesi (USD 6.5 billion), and West Java (USD 6 billion).
For further information, please contact: Ricky Kusmayadi, Head of Communication and Information Service Bureau, Ministry of Investment/ Investment Coordinating Board (BKPM) URL: www.investindonesia.go.id/en/home E-mail: rickykusmayadi@bkpm.go.id
Mariupol Reborn has been running for a year, planning the regeneration of Ukraine’s famous seaside city. With support from across Ukraine and Europe, including from the SCM Group, it has developed a fast recovery plan and a long-term vision. And, importantly, it is providing vital support for the people of Mariupol.
Four visions for Mariupol
Tens of thousands of Mariupol residents were killed in the six weeks after the full-scale invasion in February 2022 as a direct consequence of Russian aggression. Hundreds of thousands of Mariupol residents have been displaced.
Vadym Boychenko, the mayor of Mariupol, said: “People are our greatest assets. Lost lives are our greatest pain. Mariupol’s struggle will go down in history as an example of extraordinary heroism. They deserve the best home to return to and our goal is to create that. We know the government of Ukraine and our military will return Mariupol to Ukrainians. And when that happens, we will be ready to start work on Day One.”
The Fast Recovery Plan will get the city running, prioritizing housing and utilities. The Russians have destroyed 90% of the city’s infrastructure, half the apartment buildings, 15 hospitals, 63 schools and 40,000 houses have been damaged.
Mariupol Reborn has also started developing the city’s long-term regeneration plan, working with Europe’s leading architects, urban planners and experts in desovietization. The four visions are here.
Olexander Vyshniakov, director of Mariupol Reborn and Head of community development at Metinvest Holding, said, “Socially responsible businesses have a clear duty to support the communities they work in. That’s why Rinat Akhmetov’s SCM Group is Mariupol’s main partner. The Group’s businesses are also doing everything they can across Ukraine, providing employment and paying taxes, to maintain stability now and provide the platform for post-war development. Mariupol Reborn is a key part of our contribution to Ukraine’s reconstruction.”
Mariupol Reborn has widespread support, including USAID’s Economic Support for Ukraine project. The SCM Group has allocated $1.5 million to fund nine programmes. These include the development of the visions, and offices in Lviv, Dnipro and Warsaw, where the project is gathering expertise and securing international partnerships.
Cities across Europe have already offered support, including Utrecht, Vilnius and Gdansk. This is important because Mariupol has a lot to learn, particularly from those that suffered destruction in previous wars.
Mariupol Reborn is also providing housing for displaced Mariupol people now. With financial support from the French government, the project has developed dormitories in Dnipro.
Ukrainian businessman Rinat Akhmetov said, “The Russian invasion has destroyed the lives of hundreds of thousands of peaceful Mariupol residents. And it has ended the lives of far too many: one was too many. Therefore, it is crucially important we do not leave people alone with their misfortune. That’s why we must provide the people of Mariupol with homes, however temporary.”
On December 6, 2023, Golden Heaven Group Holdings Ltd. (the Company or Golden Heaven) (Nasdaq: GDHG), an amusement park operator in China, announced that it intends to enter into an operating lease framework agreement (the Agreement) with a top-tier Chinese amusement group (the “Group”). The Group is a subsidiary of a prominent Chinese tourism group, ranking among China’s top 30 national cultural enterprises and top 20 tourism groups. This Agreement is expected to mark a significant step in Golden Heaven’s strategic business expansion efforts, and is aimed at enhancing Golden Heaven’s market position by leveraging the Group’s strong presence in the Chinese amusement park industry.
Pursuant to the Agreement, that is presently under negotiation, the Group’s theme park in Wuhan, Hubei Province in central China is expected to become the pilot leased park to the Company. The finalized operating lease rights, lease schedules and other terms of the Agreement will be settled with the ongoing negotiation.
Ms. Jin Qiong, the CEO and Chairman of the Company, commented, “We are thrilled to collaborate with an established player in the amusement park business. We anticipate that the proposed Agreement we are negotiating will assist us in our journey for market expansion in China and believe it may pave the way for more strategic partnerships in the near future. By drawing on the strengths of our partner, who we understand has a market base in many large cities in China, we hope to accelerate our expansion and elevate our guest experiences. We believe that the cooperation is in our long-term interests for building brand recognition, sustaining our competitiveness, and creating value for our shareholders.”
About Golden Heaven Group Holdings Ltd. Golden Heaven Group Holdings Ltd. manages and operates six properties consisting of amusement parks, water parks, and complementary recreational facilities. With approximately 426,560 square meters of land in the aggregate, these parks are located in geographically diverse markets across the south of China and collectively offer approximately 139 rides and attractions. Due to the geographical locations of the parks and the ease of travel, the parks are easily accessible to an aggregate population of approximately 21 million people. Since September 30, 2023, Mangshi Jinsheng Amusement Park, which is one of the six parks, has been temporarily closed. The parks provide a wide range of exciting and entertaining experiences, including thrilling rides, family-friendly attractions, water attractions, gourmet festivals, circus performances, and high-tech facilities. For more information, please visit the Company’s website at https://ir.jsyoule.com/.
Forward-Looking Statements This press release contains “forward-looking statements”. Forward-looking statements reflect our current view about future events. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the U.S. Securities and Exchange Commission.
For investor and media inquiries, please contact: Golden Heaven Group Holdings Ltd. Email: group@jsyoule.com
Indonesia invited multi-party cooperation to realize the carbon neutrality target and tackle climate change at the 2023 UN Climate Change Summit (COP28) in Dubai, United Arab Emirates.
Technicians inspect solar panels on floating generator project at Cirata Reservoir, Purwakarta District, West Java, Tuesday (Sept 26, 2023). The Cirata floating generator is the largest facility in Southeast Asia as Indonesia effort to support carbon neutrality and tackle climate change. (ANTARA FOTO/Raisan Al Farisi/rwa)
President Joko Widodo revealed on Friday (December 1) that several efforts to develop new renewable energy require significant financing, and developing countries need help.
“Indonesia needs more than US$1 trillion investment for carbon neutrality by 2060. Indonesia invites collaboration from bilateral partners, private investment, philanthropists, and support from friendly countries,” Jokowi said in his statement at COP28, Dubai.
Indonesia continues to work hard to achieve its carbon neutrality target by 2060 or earlier while enjoying high economic growth.
“I am sure many developing countries have a similar position as Indonesia. However, each country cannot carry this agenda alone because collaborative and inclusive cooperation is required in the form of real actions producing real results. That is what we must achieve at COP28,” he said.
Indonesia also urges collaboration in the agricultural sector because of the potential to produce environmentally friendly biofuels. According to Jokowi, agriculture is vulnerable to the impact of climate change, which can reduce food production rates, so cooperation is required to meet global demand.
Additionally, the Indonesia Pavilion at COP28 will discuss further the issue of reducing greenhouse gas (GHG) emissions from the energy and waste sectors, forestry, and other land use sectors.
Minister of Environment and Forestry Siti Nurbaya Bakar said these sectors significantly reduce Indonesia’s GHG emissions. “These sectors contribute to a real reduction in Indonesia’s GHG emissions of 42.1 percent in 2023 as compared to business as usual,” Siti stated during the opening of the Indonesia Pavilion.
Indonesia already has an operational plan to implement the forestry and other land use (FOLU) Net Sink 2030 agenda. The FOLU sector remains the most significant contributor to reducing Indonesia’s GHG emissions, reaching 60 percent.
Siti expressed confidence in Indonesia’s ability to meet the FOLU Net Sink 2030 objective, citing recent progress in deforestation reduction.
Indonesia also proved its leadership in climate action by controlling peat fires during this year’s El Nino, which did not cause transboundary haze.
The Indonesia Pavilion at COP28, with the theme “Indonesia’s Climate Actions: Inspiring the World,” will host 77 panel sessions with 379 speakers. The sessions provide opportunities to explore ideas, opportunities, and networking in the context of strengthening efforts to control climate change in Indonesia. This will feature offline and virtual climate action exhibitions and a talk show featuring the government and all parties’ climate activities.
Hektar REIT partners with the University of Reading Malaysia as part of its ESG initiatives
Collaboration involves student bursaries, sponsorships, internship programs & career opportunities
Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (Hektar REIT) is delighted to announce a collaboration with the University of Reading Malaysia. In a strategic move underscoring Hektar REIT’s commitment to community development, a memorandum of understanding (MOU) has been signed with the University of Reading Malaysia, specifically targeting students from the Henley Business School. This collaboration emphasizes Hektar REIT’s recognition of education as a foundation for building stronger communities.
Sabrina Halim, General Manager, Business Development & Strategy and Johari Shukri bin Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd.; Professor Wing Lam, Provost and CEO of University of Reading Malaysia, and Professor Teck Yong Eng, Professor of Business Enterprise & Analytics, Head of Henley Business School Malaysia[L-R]
This partnership aligns with Hektar REIT’s dedication to supporting educational endeavours and fostering a well-rounded talent pool essential for societal progress and industry readiness. The initiative encompasses various forms of support for students, such as bursaries, cash rewards for high-achieving individuals, as well as opportunities for internships and placements. Through these efforts, Hektar REIT aims to make a positive impact by fostering the growth of the next generation of professionals and leaders.
ED & CEO of Hektar Asset Management Sdn Bhd
Hektar REIT plans to offer practical opportunities for students through internship programs, allowing them to gain valuable hands-on experience. This is in line with Hektar REIT’s goal to bridge academic learning with real-world applications, ensuring students are well-prepared for their future careers. Additionally, Hektar REIT is looking forward to introducing Graduate Trainee Programs at a later stage, further enriching the students’ professional development.
En. Johari Shukri bin Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd. expressed his views on this initiative, “We are excited about this collaboration with the University of Reading Malaysia. Our collaboration exemplifies our commitment to ESG values. By harmonizing business operations with sustainability, we aim to set a precedent for responsible corporate practices that benefit both our stakeholders and society at large. It is indeed an opportunity for us to contribute to the growth and development of young minds. This aligns perfectly with our goal to achieve business success and play a role in nurturing future talent and giving back to the community. Through education and practical learning experiences, we believe we can make a positive impact on society. Together, we aspire to cultivate a generation of responsible professionals and contribute to the betterment of society.”
This collaborative effort is part of Hektar REIT’s broader strategy to integrate business operations with sustainable and socially responsible practices. Hektar REIT stands at the forefront of a paradigm shift, recognizing the imperative to integrate ESG principles into the core of its operations. This collaboration with the University of Reading Malaysia serves as a testament to Hektar REIT’s proactive approach to balancing business objectives with a genuine commitment to societal welfare.
Jati Tinggi Group Berhad, one of the players in the field of infrastructure utilities engineering industry, today unveiled its prospectus in anticipation of its forthcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad.
Dato’ Ir. Lim Yew Soon, Independent Non-Executive Director of Jati Tinggi Group Berhad; Mr. Chin Jiunn Shyong, Executive Director/ COO of Jati Tinggi Group Berhad; Dato’ Seri Lim Yeong Seong, Managing Director of Jati Tinggi Group Berhad; Datuk Ir. Mohd Aminuddin Bin Mohd Amin, Independent Non-Executive Chairman of Jati Tinggi Group Berhad; Mr. Tah Heong Beng, Executive Director, Operations, TA Securities Holdings Berhad; Ms. Vivien Hooi, Vice President, Corporate Finance, TA Securities Holdings Berhad; Ms. Poon Lai Kit, Independent Non-Executive Director of Jati Tinggi Group Berhad; Ms. Loo May Len, Independent Non-Executive Director of Jati Tinggi Group Berhad[L-R]
The Group aims to raise RM18.04 million through the issuance of 66.80 million new shares priced at RM0.27 per share. The capital to be raised will be allocated to support the Group’s growth, enhance operational capacities and strengthen its financial position.
The usage of proceeds is outlined as follows:
• RM7.00 million to be directed towards the repayment of bank borrowings; • RM7.34 million will be earmarked for general working capital purposes; • RM0.20 million will be invested in capital expenditure, specifically in the procurement of winch machines; and • RM3.50 million is allocated to cover the estimated expenses associated with the listing process.
Managing Director of Jati Tinggi, Dato’ Seri Lim Yeong Seong remarked, “At Jati Tinggi, we strive to achieve operational excellence and embrace sustainable practices. This IPO marks a key milestone; it reflects our dedication to excellence and for sustainability as well as growth. The funds to be raised will play a crucial role in enhancing our capabilities in supporting our future growth as our Group will have access to a larger pool of financial resources which would facilitate our Group’s efforts to secure and undertake more and/ or larger projects in the future.”
Head of Corporate Finance of TA Securities Holdings Berhad (“TA Securities”), Mr. Ku Mun Fong said, “Jati Tinggi’s performance over the last 3 full financial years showcases its foundation and strategic planning. This IPO is a significant step, set to expand Jati Tinggi’s reach, strengthen its position, and establish itself as a prominent player in the infrastructure utilities engineering industry.”
TA Securities is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO.
Artroniq Berhad (Artroniq or the Group), a key contender on the ACE Market, with its’ game-changing move for the Malaysian electric vehicle industry, is proud to unveils the Group’s financial achievements for the first quarter ended 30 September 2023 (Q1 FY2024). The Group has demonstrated exceptional growth and strategic resilience, marking a promising start to the year with a substantial increase in revenue.
In Q1 FY2024, Artroniq Berhad achieved an extraordinary revenue of RM16.0 million, marking a stellar increase of about 225-fold as compared to Q6 FY2023. This surge in revenue is mainly attributed to the resolution of previous product returns in the ICT products and related services segment, signifying a robust recovery and commitment to quality and customer service.
Despite the challenging economic climate, Artroniq Berhad has significantly reduced its loss before tax to a less than RM0.1 million in Q1 FY2024 from RM16.0 million in Q6 FY2023. This improvement is a result of strategic initiatives and effective management decisions, including addressing goodwill impairment in the ICT segment.
The management of Artroniq, commented, “We are thrilled with our Q1 performance, which not only showcases our resilience but also our strategic prowess in navigating industry challenges. Artroniq Berhad is actively capitalising on the growth of the semiconductor industry and the emerging electric vehicle market. Our ventures, especially in electric bicycles, are aligned with Malaysia’s Madani Economy objectives and contribute to the national goal of carbon neutrality by 2050. We are committed to innovation, sustainability, and delivering value to our stakeholders.”
They added: “The global semiconductor industry continues to grow despite challenges in securing resources and talent. Malaysia’s strategic initiatives, particularly in Penang, are creating a conducive environment for semiconductor advancements. The government’s focus, as highlighted by the Malaysian Automotive, Robotics and IoT Institute (MARii), on initiatives like the Electric Motorcycle Usage Incentive Scheme is expected to bolster the EV market, including electric motorcycles (e-bikes).”
In conclusion, Artroniq Berhad remains focused on its growth trajectory, leveraging its strengths in the semiconductor and electric vehicle sectors. The Group is committed to navigating the dynamic market conditions with prudence and strategic foresight, ensuring sustained success in 2024 and beyond.
As at 23 November 2023, the share price of Artroniq is RM0.845, representing a market capitalisation of RM344.6 million.
Strategic Expansion and Diversified Services Propel Daythree Financial Success
Daythree Digital Berhad (Daythree or the Group), a leading Global Business Services (GBS) provider, has announced a robust year-to-date (YTD) revenue of RM66.3 million, eclipsing the total revenue of RM65.1 million for FY2022. This impressive performance is anchored by the Energy and Utilities segment, contributing RM28.9 million, or 43.6% of the total revenue, demonstrating Daythree’s resilient revenue growth amidst challenging market conditions.
Managing Director of Daythree, Mr. Raymond Davadass
Daythree reported a gross profit of RM5.0 million in Q3, down from RM6.3 million in the preceding quarter. This is primarily attributed to an increased in people costs associated with the expansion of two new revenue streams of an existing client.
The Group’s profit before taxation (“PBT”) stood at RM1.8 million, a decrease from RM3.6 million in the preceding quarter, primarily due to non-recurring listing expenses of RM1.2 million. Excluding the one-off expenses, the adjusted PBT for the current quarter stood at RM 3.0 million and the year-to-date PBT at RM8.8 million.
Daythree’s commitment to diversification is evident in its further business expansion by securing four new clients, including a leading retailer in the region, along with three new clients in the Automotive & Financial Services sectors, which is poised to enhance the Group’s revenue moving forward.
Managing Director of Daythree, Mr. Raymond Davadass expressed optimism, stating, “Our strong YTD performance despite the challenging climate is a testament to our strategic focus and adaptability. With the addition of new brands and clients, including expansion into the Retail and Travel & Hospitality sector, we are setting the stage for continued growth and diversification. Our recent accolades for Industry Excellence at domestic and regional levels, including awards for Best Use of Automation and Data Analytics, Outstanding Tech Company, and Top Investor in Digital GBS, affirm our dedication to innovation and excellence in global business services.”
Daythree’s listing on the ACE Market of Bursa Malaysia on 26 July 2023 further strengthen the Group’s market position. Looking ahead, Daythree is well-positioned for continued growth within the GBS industry, capitalised by the global economic recovery and Malaysia’s strong economic performance. According to Protege Associates Sdn Bhd, the Malaysian GBS industry is expected to expand from RM24.8 billion in 2023 to RM31.7 billion in 2027, a CAGR of 6.3%. Daythree’s innovative digital tools – Daisy, Faith, and Saige – ensure its readiness to meet the evolving demands of the global business landscape.
There are no comparative year-on-year figures as Daythree was only listed on the ACE Market of Bursa Malaysia in July 2023.
As of 23 November 2023, at 12:30 P.M., Daythree’s share price stands at RM0.39, indicating a market capitalisation of RM187.2 million, reflecting the confidence of investors in the Group’s future.
Robust Leasing Initiatives Boost Portfolio Occupancy Rate to 87.7% – Revenue recorded at RM27.8 million and NPI of RM15.4 million – Diversification Strategy: Pioneering Beyond Retail – Proposed Acquisition of KYSM, a leading private school in Melaka – Honoured with two Gold Awards at The Edge Malaysia ESG Awards 2023 – Positive Rental Reversions continue to lead to improvement
Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (Hektar REIT), today reported a resilient financial performance for the third quarter ended 30 September 2023 (Q3 2023). The REIT showcased a sustained commitment to financial stability and strategic growth in a challenging economic environment. In Q3 2023, Hektar REIT achieved a total revenue of RM27.8 million and an NPI of RM15.4 million. The Net Property Income (NPI) margin stood strong at 55.4%. These figures reflect the REIT’s adept handling of market volatilities and its dedication to operational efficiency.
En. Johari Shukri Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd.
In addressing the challenges posed by increasing operational costs during Q3 2023, the Manager actively reinforces the REIT’s financial standing and amplifies profitability through sound capital management initiatives by demonstrating fiscal prudence. The REIT has successfully reduced its gearing ratio to 44.3% in the current quarter, down from 44.6% as of 31 December 2022, via a targeted debt reduction program.
Furthermore, the Manager continues to embrace an assertive and strategic leasing approach. The REIT has elevated the overall occupancy rate of its retail asset portfolio to 87.7% during the third quarter of 2023. Three of the malls under the portfolio, Mahkota Parade & Wetex Parade, recorded an occupancy rate of more than 93% and Kulim Central recorded close to 98%. Overall, rental reversions for the quarter were positive. These proactive measures are poised to enhance the tenancy mix, positioning the REIT for anticipated revenue growth in the upcoming quarters.
In a landmark move announced in September 2023, Hektar REIT has broadened its investment horizon with the proposed strategic acquisition of Kolej Yayasan Saad Melaka (KYSM), a renowned private boarding school located in Ayer Keroh, Melaka. This proposed acquisition, which is valued at RM150 million marks a significant pivot towards educational assets, diversifying Hektar REIT’s portfolio beyond its traditional retail focus. KYSM, established in June 1995, stands out as a top-tier institution, consistently ranked among the best for Sijil Pelajaran Malaysia (SPM) results.
The proposed acquisition of KYSM is not just a diversification move but also a strategic investment providing a sustainable and resilient income source. With a 30-year Quadruple-Net lease agreement that includes a guaranteed step-up yearly return, this investment promises a steady and potentially growing income stream for Hektar REIT. This acquisition is strategically financed through a balanced mix of Proposed Placements, internally generated funds, and borrowings. This approach ensures that the REIT maintains a healthy gearing ratio, preserving financial flexibility and stability while embarking on this significant expansion.
Hektar REIT’s commitment to Environmental, Social, and Governance (ESG) practices has again been prominently recognized in the industry. The organization’s conscientious approach to sustainability and corporate responsibility culminated in Hektar REIT receiving two Gold Awards at The Edge Malaysia ESG Awards 2023. These prestigious awards were for Outstanding ESG & Dividend Return Award and the Real Estate Investment Trust (REIT) Award.
This is a testament to Hektar REIT’s leadership in integrating ESG principles into its business model. The Awards were in collaboration with Bursa Malaysia, FTSE Russell & Morningstar and were designed to highlight and celebrate companies that exemplify outstanding ESG practices. Hektar REIT’s success in these categories demonstrates its effective integration of ESG considerations in its operational and strategic decisions. The recognition reflects the company’s dedication to creating sustainable value for stakeholders while contributing positively to environmental stewardship, social responsibility and ethical governance.
En. Johari Shukri Jamil, Executive Director & Chief Executive Officer of Hektar Asset Management Sdn. Bhd. said: “Hektar REIT’s malls, strategically positioned as neighbourhood and community hubs, have been the focal point of our success. Our unwavering commitment to enhancing the overall tenancy mix and occupancy levels at our malls reflects our dedication to our niche market.
This strategic move involves remixing tenancies by introducing new, vibrant tenants to complement our existing offerings. We are confident that this initiative will not only meet but exceed the expectations of our loyal patrons. Our primary focus remains on implementing targeted strategies to improve visitor footfall and create a sustained positive cycle for our malls and retailers. Our overall committed occupancy currently stands at 88.4%, and we are positive we will surpass the 90% mark by the end of this year. We believe in initiatives yielding long-term benefits and ensuring continuous growth, ultimately delivering sustainable returns to our Unitholders.”
New strategic partnership reflects continued efforts to explore international expansion opportunities for the Group’s scalable and replicable co-working laboratory space business.
ACROMETA Group Limited (ACROMETA, or the Company and together with its subsidiaries, the Group), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, today announced that its 70% owned subsidiary Life Science Incubator Holdings Pte Ltd (LSI) has entered into a strategic partnership with Fenglin Healthcare Industry Development (Group) Co. Ltd. (Fenglin Group) through a non-binding Memorandum of Understanding (Fenglin MOU) to develop new business opportunities for co-working laboratory space in the People’s Republic of China.
(Front L-R) Fenglin Group Deputy General Manager Mr Pan Taishen and AcroMeta Chairman Mr Levin Lee Keng Weng at the signing ceremony in Shanghai.
China-incorporated Fenglin Group, the administrative arm of the Shanghai Xuhui government in charge of Life Sciences, aims to establish an integrated ecosystem of local and international stakeholders in Shanghai’s Xuhui District to accelerate biopharmaceutical innovation and development.
Fenglin Group will promote the co-working laboratory space with a focus on overseas biomedical science startups and SMEs planning to develop their business in China. On its part, LSI will use its existing business networks to recommend to Fenglin Group, Singapore and other overseas biomedical sciences companies that intend to have a business foothold in China and need co-working laboratory space. An area of approximately 2,705 sqm is set to be leased by LSI at preferential rates to set up world-class co-working laboratory space at Fenglin Group’s Innovation Valley Life Sciences Hub to provide a cost-effective venue with comprehensive laboratory facilities and equipment for research and development.
Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman, said,
“AcroMeta will continue to capture business opportunities both in Singapore and beyond to grow and create sustainable shareholder value for its investors. The business model for the Group’s co-working laboratory space business is scalable and replicable and therefore eminently suitable for international expansion.”
“China’s biopharmaceutical industry has undergone a tremendous transformation to become a thriving innovative life sciences hub driven by investments in research and development. The sector is a key focus of the Chinese government’s Made in China 2025 strategy, and we are optimistic about LSI’s long-term growth potential in collaboration with local partners.”
LSI has also signed a non-binding Memorandum of Understanding (“JV MOU”) with three investor parties (“Investor Parties”) for the setting up of a Joint Venture company (“JV Company”) to define the structure, ownership, and operational aspects of the Fenglin MOU. The expected JV Company will have a paid-up capital of at least S$3 million, with LSI holding a 51% stake. The Investor Parties are all established businessmen with deep connections to China’s medical and life science industries and will contribute their business network, expertise, and experience to facilitate the smooth set-up and successful realisation of the Fenglin MOU’s objectives.
The Fenglin MOU reflects the Group’s continued efforts to broaden its revenue stream and capture new regional opportunities. Following the Group’s MOU for the supply of high-grade silica sand from Indonesia, AcroMeta has extended its MOU with its Thai partner to jointly pursue the design, construction and operation of a solid waste and sludge testing and certification laboratory.
ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.
The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities, and cleanrooms.
ACROMETA’s business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates 6,500 square feet of co-working laboratory space at The German Centre in Singapore, serving SMEs and startups.
The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA’s customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.
The Company has been listed on the Catalist Board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.
Media and Analysts Contact: ACROMETA Group Limited Ms. Cheah Lai Min Chief Financial Officer Tel: +65 6415 0574 Email: laimin.cheah@acrometa.com
This media release has been reviewed by the Company’s Sponsor, Evolve Capital Advisory Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”), and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com
