Company narrows LBT sigificantly over nine-month period
Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) today announced that the Group recorded a revenue of RM32.4 million for the third quarter ended 31 March 2023 (3Q FY2023) compared with a revenue of RM37.5 million for the corresponding quarter of the previous financial year.
En. Rosland Bin Othman, Group Managing Director of Sarawak Consolidated Industries Berhad
For the quarter under review, the Company registered a profit before tax (PBT) of RM0.2 million compared with a loss before tax (LBT) of RM2.0 million in the corresponding quarter 3Q FY2022. For the nine-month period ended 31 March 2023 (9M FY2023), SCIB recorded RM98.7 million in revenue compared with RM102.2 million in the corresponding period of the previous financial year. For 9M FY2023, the Group’s LBT narrowed to RM3.5 million compared with LBT of RM6.0 million in 9M FY2022.
On a segmental basis, the manufacturing division, which produces precast concrete and Industrialised Building System (IBS) building materials, recorded revenue of RM23.2 million in 3Q FY2023 compared with RM22.1 million in 3Q FY2022 and PBT of RM2.7 million compared with RM0.7 million. In 9M FY2023, the manufacturing segment recorded a cumulative revenue of RM68.9 million, as compared to RM64.9 million in 9M FY2022 and PBT RM4.8 million compared with RM0.97 million.
The engineering, procurement, construction, and commissioning (EPCC) division recorded a revenue of RM9.2 million in 3Q FY2023 compared with RM15.1 million in 3Q FY2022 and PBT of RM0.009 million compared with LBT of RM0.66 million. The EPCC segment registered a cumulative revenue of RM29.4 million in 9M FY2023 compared with RM36.6 million with a cumulative LBT of RM1.44 million compared with LBT of RM1.74 million.
Group Managing Director of SCIB, Encik Rosland bin Othman (“En. Rosland”), said, “The contribution to revenue in the quarter was mainly driven by the increase in sales of foundation piles while the improvement in PBT was mainly due to margins from the sales of precast concrete products. We have also seen an improvement over the nine-month period as our LBT has narrowed significantly.”
“The Company will continue to leverage on its EPCC expertise to actively pursue leads for small-to-mid-sized construction projects across Malaysia where it has a niche and supported by our manufacturing division’s ability to supply precast and IBS building materials together with building technology.”
As at the end of 3Q FY2023, the SCIB’s order book stood at a cumulative contract value of RM495.3 million.
In a separate announcement, the Company has appointed Ms. Toh Beng Suan as an independent non-executive director today. As a lawyer with over 20 years of experience, she has advised on the development, construction, financing, operation, and maintenance of some of the largest and most complex infrastructure projects in Malaysia and in the Asian and Middle East regions, as well as construction law and various forms of construction and engineering contracts.
“SCIB is cognisant of the need to be inclusive and will deeply benefit from having Ms. Toh on board, where she is a representative of how capable women can play more important and growing roles in decision-making within the Company,” said En. Rosland.
Group announces first interim financial report enroute to ACE Market listing
Synergy House Berhad, a cross-border e-commerce seller and furniture exporter of ready-to-assemble (RTA) home furniture, announced today that the Group recorded revenue of RM51.6 million for the first quarter ended 31 March 2023 (1Q FY2023) from sales in the business-to-business (B2B) and business-to-consumer (B2C) market segments.
Executive Director of Synergy House, Mr. Tan Eu Tah
Executive Director of Synergy House, Mr. Teh Yee Luen
For 1Q FY2023, the Group registered profit before tax of RM3.6 million and profit after tax of RM2.6 million. There are no comparative figures for 1Q FY2023 as this is the first interim financial report that Synergy House is announcing in compliance with the listing requirements of the ACE Market of Bursa Malaysia Securities Berhad.
The Group’s B2B segment recorded a revenue of RM27.4 million or approximately 53.10% of the Group’s total revenue while the B2C segment recorded a revenue of RM24.2 million or approximately 46.90% of the Group’s total revenue in 1Q FY2023. In comparison, the B2C segment’s contribution towards total revenue in the full financial year 2022 was at 25.57%. On a geographical basis, the United States of America was the Group’s largest market, contributing to approximately 49.47% of the Group’s revenue in 1Q FY2023.
Executive Director of Synergy House, Mr. Tan Eu Tah said, “As the Group enters the final stages of its initial public offering (IPO) journey, we want to reiterate that there is long-term potential in the B2C market segment for RTA home furniture. Synergy House is currently in market expansion mode whereby we are focusing on investing in our B2C sales channel aggressively for wider market outreach. For the first quarter ended 31 March 2023, we have achieved total B2C revenue of RM24.2 million, which is close to 50% of our total B2C revenue for the full financial year ended 31 December 2022 of RM49.6 million.”
Executive Director of Synergy House, Mr. Teh Yee Luen said, “As part of our expansion, we have allocated resources and funding to build up our brand name, reputation and reviews on e-commerce platforms. These includes more aggressive advertisement and promotions on the e-commerce platforms that we market on which will bear fruits in the longer term. We see huge potential in the global e-commerce furniture market and we are consistently sowing the seeds for future B2C growth.”
Synergy House is raising RM34.4 million through the issuance of 80.0 million new shares at an IPO price of RM0.43 per share which is expected to support the Group’s future growth and expansion plans.
For the financial years ended 31 December (FY) 2019, FY 2020, FY 2021 and FY 2022, the Group registered revenue of RM111.5 million, RM122.9 million, RM184.3 million and RM194.1 million respectively. In particular, Synergy House’s B2C segment has seen encouraging growth, with sales reaching RM49.6 million in FY2022 from RM1.99 million in FY2019 at a compound annual growth rate of 192.17%.
Kenanga Investment Bank Berhad is the Principal Adviser, Sponsor, Underwriter and Placement Agent for the IPO exercise.
Campaign to boost Hong Kong-mainland links returns to strengthen cooperation and exchanges in the GBA
SmartHK, a flagship event of the Guangdong-Hong Kong Cooperation Week, drew about 2,000 business elites to Guangzhou today, boosting cooperation between Hong Kong and the mainland centres of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).
SmartHK was successfully held at the Shangri-La Hotel in Guangzhou
Mr John Lee, Chief Executive of the HKSAR (6th L), Mr Wang Weizhong, Governor of Guangdong Province (7th L) , Mr Yin Zonghua, Deputy Director of the Liaison Office of the Central People’s Government in HKSAR (5th L), Dr Peter K N Lam, Chairman of the HKTDC (5th R) and Ms Margaret Fong, Executive Director of the HKTDC (3rd R)
The GBA Youth Entrepreneur Summit, exclusively sponsored by Hang Seng Bank, gathered scientific research entrepreneurs, Young Entrepreneur Summit and venture-capital fund managers from the GBA to promote talent exchanges and discuss the entrepreneurial opportunities and challenges in the GBA
The conference, organised by the Hong Kong Trade Development Council (HKTDC) and Guangdong Provincial Department of Commerce, featured an exhibition area and start-up pitching sessions as well as on-site business matchmaking to facilitate connections between companies from Hong Kong and Guangdong. Hong Kong-Guangdong Cooperation Week runs from today to 7 June in the GBA, accelerating collaboration and exchange among Hong Kong and Guangdong government departments, organisations, chambers of commerce and trade associations through more than 20 business and trade activities across GBA cities.
Mr John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR), Mr Wang Weizhong, Governor of Guangdong Province, and Dr Peter K N Lam, Chairman of the HKTDC, presided over the opening ceremony of Guangdong-Hong Kong Cooperation Week and SmartHK earlier today.
Mr Lee said: “The development of the GBA, which was personally planned, deployed and advocated by President Xi Jinping, is a key development strategy for the reform and development of the country in the new era, and the best entry point for Hong Kong to better integrate into the overall development of the country.” He also pointed out, “full resumption of normal travel between Hong Kong and Mainland China meant the flow of people between Hong Kong and Guangdong had resumed and the ‘one-hour living circle’ in the GBA had made same-day travel very convenient. My team and I would make frequent visits to the GBA to promote interconnection and interoperability, advancing quality development and facilitating Hong Kong’s active integration into the overall development of the country.”
Dr Lam pointed out that Hong Kong’s development had been closely tied with that of Guangdong for many years. As two core GBA cities, Hong Kong and Guangzhou had long maintained close cooperation and complemented each other’s advantages in various fields, such as finance, innovation and technology and the creative sector.
Mr Wang hoped the business communities of Guangdong and Hong Kong could fully leverage this forum and the Guangdong-Hong Kong Cooperation Week to further promote high-level economic and trade cooperation and high-quality development between the two regions. He encouraged Hong Kong entrepreneurs to boost cooperation with Guangdong in areas such as technological innovation, advanced manufacturing, modernised services and MICE (meetings, incentives, conferences and exhibitions) tourism. He also urged greater investment in Guangdong, especially in the eastern, western, and northern parts of the province, and active collaboration with Guangdong enterprises to explore international markets. Guangdong would strive to create a market-oriented, rule-of-law-based, and internationally oriented business environment, provide excellent conditions and first-class services for domestic and foreign investors, including Hong Kong enterprises. Guangdong would strongly support and actively promote high-quality development of Hong Kong and support Hong Kong’s better integration into national development. Guangdong was committed to making efforts and contributions to ensure the stable, long-term implementation of the One Country, Two Systems principle.
Top of Form Exploring the road to high-quality development Following the opening ceremony, the thematic sharing forum discussed professional strengths of Hong Kong and other GBA cities. Mr Adam Kwok, Executive Director of Sun Hung Kai Properties Limited, Dr Levin Wang, CEO of Huatai Financial Holdings (Hong Kong) Limited, Mr Ronald Lam, CEO of Cathay Pacific Group and Mr Xu Shaochun, Chairman and CEO of Kingdee International Software Group Company Limited, discussed opportunities GBA development brought from four perspectives – co-constructing a sustainable city development model; creating a dual system of finance and technology innovation; developing a high-quality aviation industry and collaborating with Hong Kong for global business expansion.
Subsequent forums co-organised by the HKTDC and partners, such as InvestHK, Hong Kong Monetary Authority, HKSAR Development Bureau and the Hong Kong Construction Industry Council, focused on cross-border asset management, green finance, sustainable urban living, green & smart building technologies and more.
Building a talent hub To further address the importance of fostering talents and respond to the national strategy of supporting youth development, SmartHK introduced the GBA Youth Entrepreneur Summit, exclusively sponsored by Hang Seng Bank, which assembled scientific research entrepreneurs, young entrepreneur and venture capital fund managers from the GBA. Mr Fang Xin, COO of EHang, Mr Zhan Peixun, Co-founder and CSO of Shenzhen Unity-Drive Innovation Technology Co, Ltd, Ms Edith Law, Director of Fashion Farm Foundation, and Prof Karen Chan, Executive Director of German Pool Group Co, Ltd, discussed entrepreneurial opportunities and challenges in the GBA.
The successful Smart+ start-up pitching event returned and continued to focus on research and enterprise collaboration, creating opportunities for start-ups to introduce projects and thereby break into the GBA market. The 17 candidates came from The Chinese University of Hong Kong, Hong Kong Cyberport Management Company Limited, Sino Inno Lab and the HKTDC’s Start-up Express, covering AI and blockchain, medical and health, and new ESG technologies and materials.
Driving complementarity with innovation The five exhibition zones featured 70 Hong Kong companies from professional services, technological innovation, industry & academic research, creative design and other sectors introducing Hong Kong’s professional services, and providing on-site business matching services and one-on-one opportunities for Hong Kong exhibitors and GBA enterprise representatives to deepen exchanges explore new partnerships.
In the form of short talks, SmartHK’s debut GBA Live Studio aimed to extend the event to other GBA cities and enable online participation. The conversations helped audiences to better understand the ways in which Hong Kong’s professional services could help them achieve high-quality development.
Tomorrow, on 25 May, an HKTDC-organised delegation will further explore Guangzhou to gain a better understanding of the latest developments in the digital economy. It will explore opportunities in innovation and technology and related industries to accelerate multi-level Hong Kong-Guangdong cooperation in the fields of economy, technology and finance between.
The HKTDC has proactively advocated cooperation between Hong Kong and Guangdong and Hong Kong’s integration in the GBA. The annual SmartHK launched in 2011 as a flagship event in mainland cities such as Chengdu, Fuzhou, Jinan and Nanjing to create business opportunities for local and mainland enterprises.
Another flagship Guangdong-Hong Kong Cooperation Week, Chic HK, will be held from tomorrow to 28 May in Shenzhen to promote Hong Kong’s professional services and fashion brands to the business community and public in the GBA.
The HKTDC also plans a brand-new public exhibition CHILL11 at AsiaWorld-Expo in Hong Kong, promoting Hong Kong’s cultural and creative industries, particularly design, music, and digital entertainment, to enhance cultural exchange within the GBA and promote Hong Kong as a cultural and creative hub.
About HKTDC The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
Media Enquiries HKTDC’s Communications & Public Affairs Department: Eric Wong, Tel: +852 2584 4575, Email: eric.ks.wong@hktdc.org Sunny Ng, Tel: +852 2584 4514, Email: sunny.sl.ng@hktdc.org
Shareholders also approved all other resolutions at AGM
Leon Fuat Berhad, a manufacturer and trader of steel products specialising in rolled long and flat steel, would like to announce that shareholders have approved all resolutions at the Group’s 16th AGM today.
Calvin Ooi Shang How, Executive Director of Leon Fuat
Shareholders approved a resolution to pay out a final single tier dividend of 1.5 sen per share for the financial year ended 31 December 2022 (“FY2022”).
Resolutions to re-elect Mr. Ooi Seng Khong, Mr. Ooi Kong Tiong and Mr. Ng Kok Teong as directors were also approved as were resolutions to retain Mr. Chan Kee Loin, Mr. Tan Did Heng and Mr. Tan Sack Sen as independent directors.
Baker Tilly Monteiro Heng PLT was also re-appointed as the Group’s auditors for FY2023, with shareholders also authorising the directors to fix its remuneration.
Calvin Ooi Shang How, Executive Director of Leon Fuat said, “We had a smooth physical AGM and would like to thank all who made this shareholders’ meeting a success. The Group is cautiously optimistic of the outlook for FY2023 and will continue to seek opportunities to diversify products and services as well as the customer base to ensure earnings sustainability. We also will continue to monitor steel prices as well as related foreign currencies and take proactive measures such as through negotiating forward contracts and prudent inventory management to mitigate the risks to the business.”
“We would like to thank our shareholders who attended our physical AGM which allows us to have an effective engagement and who have been with us through thick and thin. The Group appreciates their trust and confidence and will continue to work to create value despite the challenging macroeconomic outlook. We view positively the recent announcement of Malaysia’s better-than-expected 5.6% year-on-year economic growth as this is a good indicator of the country’s economic strength that we would want to leverage on.”
Investment to support the exploration, mining, extraction and refining of gold from Biryuk’s mine in Kazakhstan with US$1B potential reserves
ONERHT brings its ecosystem of professional and specialist services to support the commercialisation of Biryuk’s mine
RHT AlDigi Financial Holdings Pte. Ltd. (RHTAFH) and Biryuk Altyn LLP have signed a Memorandum of Understanding (MOU) to invest in and commercialise Biryuk’s gold mine, with support from the ONERHT ecosystem.
RHT Strategic Advisory Director Ms Tan Mae Ling, RHTAFH Chairman Mr Tan Chong Huat, RHTLaw Asia LLP Managing Partner Mr Azman Jaafar, Ordabasy Group Chairman Mr Dinmukhamed Baizhanov, Mining Division Director Yerzhan Ishmukhamedov, RHTAFH Director Mr Jayaprakash Jagateesan, Biryuk Director Mr Khassanov Ruslan, and RHT DigiCapital Managing Director Dr Pang Ti Wee. [L-R]
RHTAFH is a member of ONERHT, a Singapore-based multidisciplinary professional and specialist services group while Biryuk owns a 56sqkm gold mine, located 600km from Kazakhstan’s capital, Astana. The mine holds probable reserves of 50-100 tons of gold with a potential value of US$1 billion.
Under the MOU, RHTAFH-affiliate RHT Strategic Advisory Pte. Ltd. will invest in Biryuk, bringing ONERHT’s full suite of professional and specialist services to further support Biryuk as it begins to commercialise the mine.
Through ONERHT, Biryuk will have access to deep expertise and experienced advisors, with support from full service law firm RHTLaw Asia LLP, Monetary Authority of Singapore (MAS) regulated registered fund management company RHT DigiCapital Pte. Ltd., Recognised Market Operator licence holder SDAX Exchange Pte. Ltd., and Capital Markets Services licence holder RHT Capital Pte. Ltd.
RHTAFH Director Mr Jayaprakash Jagateesan said, “ONERHT brings deep expertise across legal compliance, fund management, digital assets and capital markets to support the needs of Kazakh businesses, including mineral, oil and gas (MOG) companies leveraging Singapore as a hub to engage South-east Asia and explore potential areas for cooperation.”
Biryuk Director Mr Khassanov Ruslan said, “Our partnership with ONERHT will enable us to tap Singapore’s expertise while accelerating the commercialisation of our mine. The MOU is also a significant milestone in economic cooperation between Kazakhstan and Singapore.”
The signing ceremony took place at the Kazakhstan-Singapore Business Forum held in Astana.
About ONERHT ONERHT is an integrated multidisciplinary platform of professional and specialist services. Since 2011, RHTLaw Asia’s founding team has developed a second engine of growth through ONERHT, an independent ecosystem of professional and specialist services, and networks, complementing RHTLaw’s full service legal offerings. For more details, please visit https://www.aldigi.co and www.onerht.com
RHT AlDigi Financial Holdings Pte Ltd is an investment holding company incorporated in Singapore and the vendor of AlDigi Holdings Pte Ltd in the ongoing reverse takeover.
Company to diversify into e-bike manufacturing to enhance earnings
Leading global information and communications technology (ICT) provider Artroniq Berhad is pleased to announce that shareholders have approved all resolutions at the Company’s EGM today.
Marcus Chin Choon Wei, Chief Financial Officer of Artroniq Berhad
Shareholders approved a private placement of up to 65,659,400 placement shares, representing 20.0% of the Company’s total number of issued shares, to raise gross proceeds of up to RM36.8 million for the diversification into the manufacturing of electric bicycles (e-bikes), general working capital and estimated expenses for the proposal.
Shareholders also approved the proposal to diversify into the e-bikes business as part of the Company’s strategy to diversify its income stream.
A bonus issue of up to 196,978,202 new warrants on the basis of one warrant for every two existing ordinary shares in the Company was also approved to reward shareholders for their support by enabling them to participate in its convertible securities as well as to provide them with an opportunity to increase their equity participation should they exercise the warrants.
In the event that all the warrants are exercised at the exercise price of RM0.60 each, the Company will raise gross proceeds of RM118 million to be used for working capital requirements, including payments to suppliers and trade creditors, staff costs, directors’ remuneration and statutory contributions, overhead expenditures and, compliance expenses.
Marcus Chin Choon Wei, Chief Financial Officer of Artroniq, said, “I would like to thank all our shareholders who participated in the EGM to shape the future of the Company. We also want to thank them for their trust in the board of directors and management in guiding the business to greater success.”
“The e-bikes business not only adds an additional income stream, but it also enhances our earnings with a contribution of 25% or more in net profit besides resulting in the diversion of 25% or more of the Company’s net assets. The ICT products business comprising provision of point-of-sale (POS) solutions and distribution of POS hardware, peripherals and related services will remain as the Company seek to leverage on opportunities in technology trends.”
Earlier this year, Artroniq’s wholly owned subsidiary, Artroniq iTech Sdn Bhd, was awarded a RM100.0 million, two-year contract by Beno Inc. to assemble the Reevo series of e-bikes totalling 7,000 units that is expected to be completed on or before 30 September 2023.
As of 19 May 2023, Artroniq’s share price is at RM0.80sen with a market capitalisation of RM262.6 million.
DIBA’s mainnet launch includes a Bitcoin-only tokens wallet using apocalypse-resistant storage technology via its partnership with the largest bitcoin mining company in North America
DIBA, the first Bitcoin NFT marketplace leveraging RGB smart contracts, launches on mainnet. The launch includes BitMask, a one-of-a-kind, Bitcoin-only wallet that can hold music and art unique digital assets (UDAs), and Carbonado, hosted on high availability storage and cloud services provided by Hut 8, one of North America’s largest innovation-focused digital asset miners and high performance computing provider.
Backed by notable bitcoin investors Tim Draper of Draper Associates, Bill Tai of ACTAI Unicorn Fund, Yasmeen Drummond of NIMA Capital, and Erez Kalir of Martial Eagle Fund, DIBA aims to bring Bitcoin utility to the masses through enabling the exchange of UDAs on the most decentralized, censorship-resistant network.
Gideon Nweze, Founder & CEO of DIBA, said, “It’s our view that Bitcoin is the only network that is positioned to become the foundation for the next world economy given its decentralized, censorship-resistant, Proof-of-Work design. Bitcoin is designed to be built in layers and this one reason is why we’re very excited to announce the launch of DIBA, which enables the exchange of Unique Digital Assets for the first time on Bitcoin. This marks a major milestone in the transition of the internet onto Bitcoin.”
Tim Draper, American Venture Capital & Bitcoin Investor, said, “The bull case for Bitcoin assets is in the ballpark of $10bn market cap over the next couple of years. What Gideon and the team at DIBA have built is a testament to the potential NFTs on Bitcoin hold in capturing the creative and sovereign spirit of this next generation. I am excited about DIBA’s launch and look forward to their future growth.”
Josh Rayner, VP of High Performance Computing at Hut 8, shared, “We are bullish on Bitcoin and the potential of Layer 1 and 2 protocols, and are proud to support DIBA’s Bitcoin NFT platform with high availability storage and cloud services on our HPC infrastructure, as part of that evolution.”
The DIBA marketplace uses RGB, a Smart Contract Protocol on Bitcoin that enables encrypted transactions, and the Lightning Network to offer free NFT mints, sovereign and private assets, as well as deterministic unhackable smart contracts.
To learn more about DIBA, visit DIBA.io and follow them on Twitter @trydiba.
For media inquiries, please contact Phil LeRoy at (310) 260-7901 or phil(at)melrosepr(dot)com.
About DIBA
DIBA Global builds decentralized application Infrastructure on Bitcoin and the Lightning network. As the first marketplace on Bitcoin using RGB Smart Contract Protocol and Lightning Network to exchange Unique Digital Assets (UDAs), commonly referred to as NFTs, DIBA Marketplace is focused on accelerating art & entertainment utility on Bitcoin. DIBA’s mission is to help millions of people own, use and exchange non-custodial digital assets that are censorship resistant while catalyzing access, equity, and fairness. Visit DIBA at www.DIBA.io.
Awards celebrating great local orators and media performers returns for sixth year
Hong Bao Media has added a Best Sustainability Communications category to its annual Media Savvy Awards, which recognise Singaporean and Malaysian business leaders for excellent traditional – and new media skills.
This year’s judges are:
Keith Morrison, Director of Marketing & Communications at Black & Veatch and President, Asia-Pacific Association of Communications Directors
Asiya Bakht, CEO & Founder of Beets Public Relations
Ramya Chandrasekaran, Chief Communications Officer, QI Group
Rimmi Harindran, Senior Director, Corporate Affairs, AMEA, Kellogg Asia Pacific
Shruti Gupta, Former Chief of Marketing Communication, Cashify.in
David Venn, Global Director, Communications, World Scout Bureau
The new category this year, Best Sustainability Communications, is in addition to the existing criteria Best Broadcast Interview, Best Online Interview and Best Hybrid Presentation.
Keith Morrison, President of APACD, said: “Today’s dynamic and diffuse media landscapes demand that leaders connect with authority, empathy and authenticity with their customers, employees, regulators, investor and other key stakeholders. Failure to be great communicators and media savvy, which these awards recognise, risks the reputation of their organisations and misses out on opportunities to influence and attract success.”
Lina Marican, Regional Managing Director, Mutant Communications said: “With the rise of social media consumption, CEOs and leaders must increasingly connect with audiences on these new platforms. Often, this means having a direct dialogue with consumers and journalists who frequently use social media to break and share news. When it comes to sustainability communications, there is an additional layer of scrutiny as leaders need to be genuine and transparently articulate what their company is doing to cut through greenwashing claims and scepticism.
“Overall, leaders have to be intentional and genuine about not only landing key messages but doing it effectively on new and emerging platforms where people are spending their time.”
Media Savvy Award convenor Mark Laudi said: “We have added the Best Sustainability Communications category this year, in recognition of the many corporate spokespeople who talk about their organisations ESG initiatives without greenwashing.
“Greenwashing is just another word for exaggerating sustainability action, embellishing the truth or even spreading half-truths and untruths. Spokespeople who tell the unvarnished truth, focus on materiality and provide evidence for their sustainability initiatives stand a good chance of winning this award.”
This is in addition to the previous criteria of Best Broadcast Interview, for interviews first carried on traditional radio and television stations, and “Best Online Interview”, for interviews posted on the websites and channels of online-only and traditional print publications.
Nominations officially open Monday, July 3 and can be made for free at www.mediasavvyawards.com by Friday, September 15, 2023.
Palladium One Mining (TSXV: PDM) (FSE: 7N11) (OTCQB: NKORF) (Palladium One or the Company) is pleased to announce that Glencore plc (Glencore), a large shareholder of the Company through its wholly-owned subsidiary, has elected to exercise its pro-rata equity participation rights and has subscribed for 7,439,071 common shares in the capital of the Company (the Common Shares). The Common Shares were issued at a price of $0.11 per Common Share for aggregate gross proceeds of $818,297.80 (the Financing). Following the Financing, Glencore holds approximately 9.99% of the Company’s equity on a partially diluted basis.
Pursuant to the terms of the investor rights agreement entered into between Glencore and the Company (the “Investor Rights Agreement”), Glencore elected to exercise its pre-emptive rights to maintain its ownership interest in the Company in respect of the Company’s recently completed acquisition of MetalCorp Limited.
All Common Shares issued under the Financing are subject to a four-month hold period from the closing date. No fees were paid in connection with Glencore’s investment.
About Palladium One Palladium One Mining Inc. (TSXV: PDM) is focused on discovering environmentally and socially conscious Metals for Green Transportation. A Canadian mineral exploration and development company, Palladium One is targeting district scale, platinum-group-element (PGE)-copper-nickel deposits in Canada and Finland. The Lantinen Koillismaa (LK) Project in north-central Finland, is a PGE-copper-nickel project that has existing NI43-101 Mineral Resources, while both the Tyko and Canalask high-grade nickel-copper projects are located in Ontario and the Yukon, Canada, respectively. Follow Palladium One on LinkedIn, Twitter, and at www.palladiumoneinc.com.
ON BEHALF OF THE BOARD “Derrick Weyrauch” President & CEO, Director
For further information contact: Derrick Weyrauch, President & CEO Email: info@palladiumoneinc.com
Neither the TSX Venture Exchange nor its Market Regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States of America. The common shares of Palladium One Mining Inc. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.
Information set forth in this press release may contain forward-looking statements. Forward-looking statements are statements that relate to future, not past events. In this context, forward-looking statements often address a company’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. Forward-looking statements contained in this news release include, without limitation, statements with respect to: the expected synergies and benefits of the Financing, the future price of nickel, copper, gold, and cobalt, the estimation of mineral resources, costs and timing of the development of projects and new deposits, success of exploration, currency fluctuations, requirements for additional capital, government regulation of mining operations, and environmental risks. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
Group to cooperate with Toticell to distribute its products and service
Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, today announced a strategic cooperation agreement (SCA) with Toticell Limited for the distribution of the Group’s products in Bangladesh.
Sasha Nordin, Chief Executive Officer of Malaysian Genomics
Azri Azerai, Executive Director of Malaysian Genomics
Toticell, which is based in Dhaka, Bangladesh, specialises in regenerative healthcare focusing on treatments for musculoskeletal conditions such as arthritis, sports-related injuries and tendinopathies.
Under the SCA, the parties agree to cooperate in the distribution of Malaysian Genomics’ cosmeceutical products, genetic screening tests, CAR T-cell therapy services, and other areas of mutual commercial interests.
Mr. Sasha Nordin, CEO of Malaysian Genomics said, “Bangladesh represents a market with vast opportunities given its population of approximately 165 million people. The country’s economy, which is the second-largest in South Asia, is growing rapidly it is identified by Goldman Sachs Inc. as one of the Next Eleven, along with the BRICS economies for potential. Malaysian Genomics is delighted to cooperate with Toticell to bring our products and services to Bangladesh.”
Mr. Azri Azerai, Executive Director of Malaysian Genomics, said, “This collaboration with Toticell falls in line with Malaysian Genomics’ strategic expansion plan which includes diversifying geographically and globally.”
In April, MGRC announced that the Group has made progress in establishing partnerships following the signing of SCAs with several Dubai, United Arab Emirates (“UAE”) parties, namely American Spine Center (“ASC”), a Dubai, UAE-based specialist in spinal injury and spine pathology; BALSAM Health Services (“Balsam”), a Dubai, UAE-based healthcare service provider; Wellness by Design FZ LLC (“Wellness by Design”), a Dubai, UAE-based nutrition, obesity and weight loss specialist, and Sharjah, UAE-based IAC International LLC (“IAC”), which is coordinating and developing the partnerships.
MGRC also recently appointed Mr. Aswath Ramakrishnan as its new Independent Non-Executive Director. He is an experienced practising lawyer involved in commercial litigation, shipping and maritime, defamation, corporate and insolvency litigation, asset and debt recovery, intellectual property litigation, arbitration, and cross-border dispute.
