Category: Finance

Start-up Express Pitching Final takes place on 15 June

Social innovation programme drives diverse tech developments

Start-up Express, an entrepreneurship development programme organised annually by the Hong Kong Trade Development Council (HKTDC), has returned for its fifth edition. As they face up to issues arising from the ongoing pandemic and adverse global economy, start-up enterprises are in need of support more than ever before. This year’s programme continues to help entrepreneurs develop their businesses by building connections, exploring markets, seeking partners and enhancing brand awareness.

In 2021, 10 winning teams were selected for the Start-up Express Pitching Final
Allklear advocates the concept of plant-based, functional and sustainable foods through innovative technology to produce a new generation of future health foods
i2cool has developed a radiative cooling paint that reduces the surface temperature of buildings as well as saving energy and reducing carbon emissions

Nurturing a sustainable entrepreneurial ecosystem

Stephen Liang, Assistant Executive Director of HKTDC, said the HKTDC would continue its commitment to supporting entrepreneurs in expanding their businesses, especially during the pandemic, in addition to promoting the city’s capabilities in the areas of innovation and technology.

“Since the first edition of Start-up Express in 2018, the programme has already nurtured 40 start-ups, most of which are still active and have expanded on a considerable scale. Start-up Express has given tremendous support to local start-ups, helping them explore global markets, seal major orders and win international awards. We will continue our quest to spread the spirit of entrepreneurship in Hong Kong, assisting start-ups in growing their businesses to the next level and helping them gain a foothold in the global arena. The HKTDC remains committed to building a sustainable and international entrepreneurial ecosystem that promotes local economic growth and business development,” Mr Liang said.

New ESG Award recognises socially aware projects
Start-up Express is aimed at local tech start-ups that have plans to expand into international markets. As the pandemic situation gradually begins to ease, innovative business models and fresh ideas will provide a new stimulus for the economy in post-pandemic times. The enrolment for Start-up Express 2022 reflects the great enthusiasm of local entrepreneurs, with shortlisted start-ups coming from a broader spectrum of fields than ever before including emerging technologies such as art tech, green tech, health tech, prop tech, fintech, smart city tech, edtech, food tech and more. This year, the ESG Award has been added to reward the most sustainable and socially efficient start-up.

HKTDC offers full support to boost business development
The Pitching Final of this year’s Start-up Express will be held on 15 June. The winning start-ups will be offered access to capability-building workshops, mentoring sessions, exploratory missions to the Guangdong-Hong Kong-Macao Greater Bay Area, marketing sessions, extensive publicity and investor pitching opportunities. These activities will help the winning entrepreneurs hone their business skills, gain access to the latest market insights and acquire business know-how from experienced industry leaders. The winning start-ups will also be presented with opportunities to interact with buyers and investors at HKTDC-organised local and overseas events. In addition, the HKTDC will arrange business matching meetings, helping the entrepreneurs to connect with potential partners, increase their media exposure and enhance brand awareness.

Taking the pulse of the market and building a global network
Mr Liang added: “Last year’s winning teams stood out because of their innovative and forward-looking ideas. Through Start-up Express they were able to gain more insights into their industries, overseas market trends and investor preferences by participating in different HKTDC-organised events, including the Asia Summit on Global Health, Asian Financial Forum, the Belt and Road Summit, online exhibitions in Mainland China and overseas, and investor meetings in Hong Kong and the mainland. They have also been able to strengthen their business networks and expand their markets and businesses through the exposure they have gained. To help fuel the growth of these start-ups, the HKTDC also leveraged its network of 50 overseas offices worldwide to endorse them in international competitions and connect them to overseas investors through pitching events.”

Professional judging panel to select 10 most outstanding start-ups
In the 2022 Pitching Final, the judging panel will select 10 outstanding teams out of 20 shortlisted start-ups. This year’s panel comprises Raymond Yung, Vice Chairman, AMTD Group; Jason Chiu, Chairman, Hong Kong Start-up Council; Andrew Young, Associate Director (Innovation), Sino Group; Ben Cheng, Managing Partner, C Ventures; and Arshad Chowdhury, Managing Partner, Betatron Venture Group. In addition, AMTD Group is the Strategic Partner of Start-up Express for the fourth consecutive year.

Start-ups selected for the shortlisted top 20 in the Pitching Final have all presented innovative business solutions that help address social and environmental issues. Among them:
– Allklear advocates the concept of plant-based, functional and sustainable foods through innovative technology to produce a new generation of future health foods.
– i2cool has developed a radiative cooling paint that consumes no energy and does not require any cooling agent, and is able to reduce the surface temperature of buildings.
– PONS.ai, an artificial intelligence-powered phygital social marketplace for art and entertainment products, aims to empower creators worldwide with digital ownership.
– FlashGreen champions environmental friendliness by recycling stocks of short-dated, best-before-date foods from suppliers and reselling them at lower prices in vending machines.

Start-up Express 2022 Pitching Final
– Date: 15 June 2022 (Wednesday)
– Time: 1:45pm Media registration; 2pm-5pm Start-up Express Pitching Final
– Venue:
HKTDC SME Centre
G/F, HKCEC
1 Expo Drive, Wan Chai

Due to limited space, a livestream session will be arranged at the Media Centre. Media representatives are welcome to interview the winning start-ups at the SME Centre after the event has concluded.

– Judging panel
Raymond Yung, Vice Chairman, AMTD Group
Jason Chiu, Chairman, Hong Kong Start-up Council
Andrew Young, Associate Director (Innovation), Sino Group
Ben Cheng, Managing Partner, C Ventures
Arshad Chowdhury, Managing Partner, Betatron Venture Group
– Shortlisted start-ups: Click here ( https://tinyurl.com/Start-up-Express ) to view the profiles of the shortlisted start-ups.
– Start-up Express website: https://portal.hktdc.com/startupexpress/

Media registration
To join the online livestreaming of the contest, media representatives are asked to complete the registration form below and email it to clayton.y.lauw@hktdc.org. https://mediaroom.hktdc.com/en/pressrelease/detail/20354/

Photo download: https://bit.ly/3MYzZxl

Media enquiries
Please contact the HKTDC’s Communications & Public Affairs Department:
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org

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

MuskMelon Utility Tokens Set to Dominate Investors’ Mindshare: NFTs Launch May 30

MuskMelon coins, the latest craze in NFTs (Non-Fungible Tokens) for game lovers, being bought in multiples of 10x, is setting a new high for collectors. Breath-taking MuskMelon lured investors with its presence in Times Square, New York recently. With an exponential gain of over 6000% returns for investors, MuskMelon Tokens (MELONs) are set to launch 3D NFTs, offering investors an opportunity to cash in on the growth curve on May 30, 2022.

MELON Tokens will be traded on Bibox, the world’s leading AI-led digital asset trading platform, and Digifinex, a one-step crypto investment platform (both exchanges are headquartered in Singapore). MuskMelon is also live on BitMart, XT.com and others.

MuskMelon aims to outmanoeuvre established coins such as SHIBA INU (SHIB) and DOGE with its inventive methodologies. The Token is unique amongst the current offerings, with its unique play to earn and NFT avatars, in the DeFi space.

On the occasion, Neal Mathews, Project Advisor of MuskMelon, said, “MuskMelon’s recent presence in Times Square, New York has amplified our NFTs multi-fold. Hence the 3D NFTs are launching today while ‘RunMelonRun’ remains a favourite for many of our investors. The said game will host MELON NFTs and merge the utility of MELON Tokens, enabling users with dual benefits. The game will be available on iOS and Android stores post-launch.”

MuskMelon allows meme creators to spread their word, build a strong community and earn. The entire process of MuskMelon is decentralized and helps aspiring meme creators showcase their talent to the world. The platform prides itself on being a community-driven initiative, re-igniting the spark that brought the Blockchain-Cryptocurrency industry to life.

MuskMelon seems to be an ecosystem that wants to enchant global audiences with NFTs and immersive gaming possibilities. MELONs have a maximum supply of 10 billion tokens, on the BEP20 and ERC20 networks. The MuskMelon community wants to ensure maximum public participation with an almost fair sale.

For more information, kindly visit the website https://muskmelon.org/

Media Contact:
Neal Mathews, MuskMelon
Email Id: hello@muskmelon.org
Contact: +221 774800422

Director-General of Investment Promotion visits Middle East and Europe to promote Hong Kong’s long-term business opportunities

The Director-General of Investment Promotion, Mr Stephen Phillips, today (May 29) started his duty visit to Doha, Abu Dhabi, Dubai and Kuwait in the Middle East, and Amsterdam, Lisbon and Madrid in Europe as part of the latest efforts of Invest Hong Kong (InvestHK) to promote Hong Kong’s business attractions.

Mr Stephen Phillips

During the visit, Mr Phillips will meet with business leaders from various sectors including innovation and technology, financial services and family offices, fintech, business and professional services, tourism and hospitality, and transport, infrastructure and advanced manufacturing. He will also speak at three events in Abu Dhabi, Lisbon and Madrid, giving updates on Hong Kong’s latest business environment and opportunities, highlighting the city’s strategic role in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

Mr Phillips said, “Hong Kong is an ideal location for overseas and Mainland companies, as well as entrepreneurs from around the world, as a base to set up or expand their business in Hong Kong, the GBA, China, and Asia more widely. The facts speak for themselves: in two surveys conducted last year, we saw a record number of businesses from overseas and the Mainland come to Hong Kong, as well as the largest number of start-ups in Hong Kong.”

He added, “Hong Kong offers to companies a wide range of routes to growth opportunities. I look forward to sharing with representatives of companies and entrepreneurs the up-to-date and real situation in Hong Kong, and particularly how they can use Hong Kong to seize opportunities, including those arising from the GBA.”

About InvestHK
InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies. For more information, please visit www.investhk.gov.hk.

RHT Rajan Menon Foundation presents Gentle Bones Charity Concert on 22 July 2022

  • Tickets on Sale Monday, 30 May 2022 at 10am SGT

Local singer-songwriter Gentle Bones will return to the stage for a good cause in collaboration with RHT Rajan Menon Foundation Ltd, the corporate social responsibility vehicle of RHTLaw Asia LLP and the RHT Group of Companies (collectively, ONERHT).

With the support of venue partner Marina Bay Sands, the live and in-person charity concert will be held at the Sands Theatre at 7pm on 22 July 2022.

Gentle Bones said, “It’s a great occasion to be able to hold a concert after more than two years of pandemic restrictions, and to be invited by RHT Rajan Menon Foundation to do so for a great cause makes it all the more meaningful. I hope this event is able to support the beneficiaries and also help promote cross-industry contributions.”

“Over the past year and a half, l have been focused on making music that empowers the listeners to come to terms with the understanding that they are much more to what meets the eye of anyone outside of themselves. I am extremely heartened to be able to translate this in a live concert setting that will contribute to many, not just of the music industry alone. I consider this to be an absolute honour and privilege,” he added.

Associate Professor Ho Peng Kee, Patron of the Foundation, said, “Through proceeds from this charity concert, the Foundation aims to help support the well-being of those hit hardest by the pandemic such as underprivileged families, seniors, people with disabilities, and their caregivers.”

“I am heartened to see the corporate and legal fraternity coming together with young artistes to do good. I would like to thank Mr Edwin Tong, Minister for Culture, Community and Youth & Second Minister for Law, for gracing the concert as Guest-of-Honour,” he added.

This charity concert will support the FUN! Fund for Seniors (an Agency for Integrated Care initiative), PCF Sparkle Care Centres, Lions Befrienders Service Association (Singapore), Dementia Singapore Ltd, Life Community Services Society, TOUCH Community Services Limited, CaringSG Limited and It All Starts Hear.sg.

Tickets are priced from S$88 to S$228 and will go on sale on Monday 30 May 2022 at 10am SGT through Marina Bay Sands and SISTIC.

Ticketing Links:
Marina Bay Sands
www.marinabaysands.com/entertainment/shows/gentle-bones-charity-concert.html

SISTIC
https://www.sistic.com.sg/

About RHT Rajan Menon Foundation
A Singapore registered charity and grant-making philanthropic organisation, RHT Rajan Menon Foundation Ltd (“Foundation”) enables RHTLaw Asia LLP and the RHT Group of Companies (collectively, “ONERHT”) to do right and do good through various charitable endeavours.

Set up by ONERHT in 2015, the Foundation was registered as a Singapore charity by the Commissioner of Charities and a grant-making philanthropic organisation by the Inland Revenue Authority of Singapore on 16 September 2016 and 28 November 2016 respectively.

The Foundation seeks to establish, inspire and encourage the right philanthropic culture among the corporate and legal fraternity of giving back to the community in a focused, hands-on and meaningful manner. Since its inception, the Foundation has raised more than S$3 million to support more than 15 beneficiaries involved in education, the environment and sustainability, disadvantaged groups as well as the arts and sports. For more information, please visit www.rhtrajanmenon.foundation

For media enquiries, please contact:
Elliot Siow / elliot.siow@rhtgoc.com / +65 8375 0417

Hong Kong Investment Promotion Chief visits Middle East and Europe to promote Hong Kong’s long-term business opportunities

The Director-General of Investment Promotion of the Hong Kong Special Administrative Region, Mr Stephen Phillips, today (May 29) started his duty visit to Doha, Abu Dhabi, Dubai and Kuwait in the Middle East, and Amsterdam, Lisbon and Madrid in Europe as part of the latest efforts of Invest Hong Kong (InvestHK) to promote Hong Kong’s business attractions.

Mr Stephen Phillips

During the visit, Mr Phillips will meet with business leaders from various sectors including innovation and technology, financial services and family offices, fintech, business and professional services, tourism and hospitality, and transport, infrastructure and advanced manufacturing. He will also speak at three events in Abu Dhabi, Lisbon and Madrid, giving updates on Hong Kong’s latest business environment and opportunities, highlighting the city’s strategic role in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA).

Mr Phillips said, “Hong Kong is an ideal location for overseas and Mainland companies, as well as entrepreneurs from around the world, as a base to set up or expand their business in Hong Kong, the GBA, China, and Asia more widely. The facts speak for themselves: in two surveys conducted last year, we saw a record number of businesses from overseas and the Mainland come to Hong Kong, as well as the largest number of start-ups in Hong Kong.”

He added, “Hong Kong offers to companies a wide range of routes to growth opportunities. I look forward to sharing with representatives of companies and entrepreneurs the up-to-date and real situation in Hong Kong, and particularly how they can use Hong Kong to seize opportunities, including those arising from the GBA.”

About InvestHK

InvestHK is the department of the Hong Kong Special Administrative Region Government responsible for attracting foreign direct investment and supporting overseas and Mainland businesses to set up or expand in Hong Kong. It provides free advice and customised services for overseas and Mainland companies. For more information, please visit www.investhk.gov.hk.

Media contact:

Mr Antoine So
Head of Public Relations
T: +852 3107 1035
E: ASo@investhk.gov.hk

Ms Eva Chan
Senior Manager, Public Relations
T: +852 3107 1071
E: EChan@investhk.gov.hk

Hektar REIT’s NPI Goes up by 17.8% in 1Q 2022

  • Revenue grew by 8.7%, while EPU increased by 106.6%
  • Gradual recovery is expected as the country transitions towards endemicity
  • Occupancy rate remains steady at 84.8%
  • Sustainability Initiatives remain our top priority

Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (Hektar REIT), today announced the first quarter results ended 31 March 2022 (1Q 2022). Hektar REIT recorded revenue of RM29.11 million, an increase of 8.7% compared to the RM26.78 million recorded in the corresponding quarter of the previous year. The higher revenue is attributed to the increase in rental income, car park income and higher hotel occupancy, consistent with other retail and hospitality REITs. The overall retail sentiment for this quarter remained positive as it was supported by the increase in retail sales due to the pent-up demand from last quarter. Hektar REIT’s net property income increased 17.9% to RM16.62 million compared with RM14.09 million recorded in 1Q 2021, while realised income for the quarter under review gained 110.7% to RM13.74 million compared with RM5.52 million in 1Q 2021. Earnings per unit rose by 106.6% to 2.92 sen for 1Q 2022 compared with 1.41 sen for 1Q 2021.

Subang Parade

Despite the dynamic & challenging environment, the Manager was able to bring in new tenants and secure the existing tenancies. Hektar REIT’s overall portfolio occupancy rate has remained steady at 84.8% in the quarter under review. Anchor support for Hektar’s malls remains positive as Golden Screen Cinemas (GSC) , our anchor tenant at Subang Parade, Central Square and Kulim Central, has started operating their business. The commitment by such an anchor tenant is a testament to the confidence in the long-term prospects of the malls. Hektar REIT is cautiously optimistic that there will be a gradual recovery as the country transitions into an endemic phase with the lifting of restrictions and reopening of the international borders.

Retail Group Malaysia (RGM) also expects the retail industry to recover in 2022 after posting a 26.5% growth rate year-on-year in 4Q 2021, which was above market expectations. RGM anticipates retail sales to grow by 6.3% in 2022. The Manager will maintain a cautious outlook for the coming quarters & continue monitoring the evolving situation and remain focused on ensuring the safety & well-being of our shoppers, tenants, employees and communities at all its properties.

Due to the prolonged COVID-19 pandemic & implementation of lockdowns in 2020 and 2021, the retailers are still in the early stages of recovery. Therefore, despite the improved performance of Hektar REIT, the Manager has decided to adopt a prudent approach by moving from quarterly to semi-annual income distribution as part of its long-term strategy to enhance the REIT’s capital management. Moving forward, subject to the financial performance of the REIT, the Manager intends to make distributions to the unitholders of Hektar REIT on a semi-annual basis for each six-month period ending 30 June and 31 December each year, unless otherwise determined and/or varied by the Manager at its sole discretion. However, the Manager remains committed to distribute at least 90% of Hektar REIT’s distributable income for the financial year ending 31 December 2022.

Hektar REIT remains committed to fulfill its obligation to ensure that business activities are performed to high standards of Environmental, Social and Governance (ESG). Various energy utilisation and optimisation initiatives since 2017 have been put in place for all of its shopping malls, resulting in a significant reduction in greenhouse gas emissions (recorded as CO2e) and energy usage over the last five years. Despite the pandemic, reducing the environmental footprint of our assets and operations remain a top priority. Our Waste Management initiatives have helped to reduce Waste Disposal by 156 tonnes or 22% compared to the same quarter in the preceding year. Hektar REIT is a constituent member of the FTSE4Good Bursa Malaysia Index and in its latest December 2021 evaluation, its ESG conduct has been recognised with a 3-star ESG rating by FTSE Russell.

Hektar REIT: http://www.hektarreit.com/

12th PropertyGuru Asia Property Awards (Singapore) search for the finest real estate as market sentiment improves

  • Over 80 Titles to be Presented to The City-State’s Outstanding Property Development Companies and Real Estate Projects

The Singapore edition of the PropertyGuru Asia Property Awards, organised by Southeast Asia’s leading property technology company, PropertyGuru (NYSE: PGRU), will return to the Lion City for its 2022 edition.

Prominent, senior real estate industry figures gather 12 May at The Capitol Kempinski Hotel Singapore for the leaders’ luncheon celebrating the launch of the 2022 edition of the PropertyGuru Asia Property Awards (Singapore)
Jules Kay, General Manager of PropertyGuru Asia Property Awards & Events, delivers his opening remarks during the PropertyGuru Asia Property Awards (Singapore) Leaders’ Luncheon on 12 May at The Capitol Kempinski Hotel Singapore
  • Exclusive gala celebration to be held on 28 October 2022 at Shangri-La Singapore
  • Entries and nominations are open to eligible companies and the public, respectively, until 19 August, with several new titles for local and transnational developers
  • International audience can watch a live stream of awards presentation via AsiaPropertyAwards.com and digital platforms

The 12th PropertyGuru Asia Property Awards (Singapore), supported by Kohler and Mitsubishi Electric Asia Pte Ltd., will be presented at an exclusive in-person gala event at the Shangri-La Singapore on Friday, 28 October 2022. Nominations and entries are being accepted online until 19 August: www.asiapropertyawards.com/en/nominations

The return of the black-tie gala celebration comes as property seekers in the city-state cope with shifts brought by the new normal and look to a better future, according to findings by the H1 2022 PropertyGuru Consumer Sentiment Study (CSS) (tinyurl.com/45mrax8k).

The study recorded an uptick in the overall Sentiment Index (tinyurl.com/2p92v3c5) – a measure of current real estate satisfaction and overall climate, housing affordability, interest rates, perceived government efforts, and property prices by PropertyGuru.com.sg, Singapore’s No. 1 property marketplace. This uptick was driven by Singaporeans’ positive outlook on future property prices, more reasonable perception of home loan interest rates, and better-perceived government efforts to make housing more affordable.

Following last year’s successful virtual gala event, the PropertyGuru Asia Property Awards (Singapore) this year have added new categories, honouring real estate companies with developments not only in the city-state but also those with projects abroad.

Key dates:
19 August 2022 – Entries Close
5-28 September 2022 – Site Inspections
29 September 2022 – Final Judging
28 October 2022 – Gala Event and Awards Ceremony in Singapore
9 December 2022 – Regional Grand Final Gala Event in Bangkok, Thailand

All-new award titles
Entries and nominees will be shortlisted across 81 categories. They include the all-new title of Best Transnational Developer, open to companies with developments outside Singapore, as well as Best Luxury Developer. Never-before-presented titles will also be given to eligible residential projects across the city-state: Best Premium Condo Development, Best Waterfront Condo Development, Best Lifestyle Development, Best Wellness Condo Development, and Best Nature-Integrated Condo Development.

Jules Kay, General Manager, PropertyGuru Asia Property Awards & Events, said: “The number of quality developments, designs and development companies has grown every year and many of them have been instrumental in driving that growth. Singapore properties and developers always feature highly in the list of the Best in Asia. It’s clear that as leaders in this field, they have set a standard in Singapore for others to follow. The PropertyGuru Asia Property Awards (Singapore) look forward to recognising their achievements this year and in the years to come.”

Dr. Tan Tee Khoon, Country Manager, PropertyGuru.com.sg, said: “Singaporean developers have kept the real estate industry dynamic even in these unprecedented times. I hope that these companies will continue their innovations and push forward their projects with world-class concepts and design across all asset segments, and that they will remain committed to sustainability, green building and ESG.”

To launch the 2022 edition, PropertyGuru hosted a luncheon with local developers to celebrate the opening of the nominations and the new categories.

From the Awards in Singapore, main country winners will proceed to the 17th edition of the PropertyGuru Asia Property Awards Grand Final in Bangkok, Thailand where they will compete with peers for Best in Asia honours. At the 2021 edition of the Grand Final, companies from Singapore scored four regional wins, including the Best Hospitality Developer (Asia) title, which was presented to UOL Group Limited.

The 2022 gala event in Singapore will continue to reach consumers, investors and agents internationally by streaming live on AsiaPropertyAwards.com and digital platforms such as Facebook, YouTube, and LinkedIn. The PropertyGuru Asia Property Awards virtual gala series, which began streaming in 2020 and continued in 2021, has garnered around 1 million views to date across multiple channels.

The 12th Annual PropertyGuru Asia Property Awards (Singapore) programme is supported by gold sponsors Kohler and Mitsubishi Electric Asia Pte Ltd.; official portal partner PropertyGuru.com.sg; official magazine PropertyGuru Property Report; official cable TV partner History Channel; official PR partner Artemis Associates; and official supervisor HLB.

For more information, email awards@propertyguru.com or visit the official website: AsiaPropertyAwards.com.

NOTE: Use of the PropertyGuru Asia Property Awards (Singapore) logo is limited to the publication of this article only.

PROPERTYGURU CONTACTS:
General Enquiries:
Richard Allan Aquino
Head of Brand & Marketing Services
M: +66 92 954 4154
E: allan@propertyguru.com

Sponsorships:
Kanittha Srithongsuk
Regional Manager, Awards Sponsorship
M: +66 93 293 9794
E: kanittha@propertyguru.com

Media & Partnerships:
Nate Dacua
Media Relations & Marketing Services Manager
M: +66 92 701 2510
E: nate@propertyguru.com

Sales & Nominations:
Alicia Loh
Awards Manager
M: +65 8382 0078
E: alicia@propertyguru.com.sg

ABOUT PROPERTYGURU ASIA PROPERTY AWARDS:
PropertyGuru’s Asia Property Awards, established in 2005, are the region’s most exclusive and prestigious real estate awards programme. The Asia Property Awards are recognised as the ultimate hallmark of excellence in the Asian property sector. Boasting an independent panel of industry experts and trusted supervisors, the Awards have an unparalleled reputation for being credible, ethical, fair and transparent.

In 2022, the Awards series is open to more than a dozen key property markets around the region. The exciting gala events welcome senior industry leaders and top media, as well as reach property agents and consumers via live streaming. Recognising excellence within each Asian market with a variety of categories, including green and sustainable development, each local awards programme will culminate in the PropertyGuru Asia Property Awards Grand Final, which takes place after the PropertyGuru Asia Real Estate Summit during ‘PropertyGuru Week’ in December 2022.

For more information, please visit AsiaPropertyAwards.com

ABOUT PROPERTYGURU GROUP:
PropertyGuru Group is Southeast Asia’s leading property technology company, and the preferred destination for over 52 million property seekers to find their dream home, every month. PropertyGuru and its group companies empower property seekers with more than 3.3 million real estate listings, in-depth insights, and solutions that enable them to make confident property decisions across Singapore, Malaysia, Thailand, Indonesia, and Vietnam.

PropertyGuru.com.sg was launched in 2007 and has helped to drive the Singapore property market online and has made property search transparent for the property seeker. Over the decade, the Group has grown into a high-growth technology company with a robust portfolio of leading property portals across its core markets company; award-winning mobile apps; a high-quality developer sales enablement platform, PropertyGuru FastKey (www.propertygurugroup.com/fastkey/); mortgage marketplace PropertyGuru Finance (www.propertyguru.com.sg/mortgage/home-loan); and a host of other property offerings including Awards (www.asiapropertyawards.com/en/), events and publications across Asia.

For more information, please visit www.PropertyGuruGroup.com;
www.linkedin.com/company/propertyguru

Yew Lee Pacific Group Berhad Launches Prospectus for ACE Market IPO

Ipoh-based industrial brush manufacturer to raise RM37.27 million from listing

Yew Lee Pacific Group Berhad (YLPG), an established manufacturer principally involved in the manufacturing of industrial brushes as well as the trading of machinery parts and industrial hardware, launched the Company’s prospectus today for an initial public offering (IPO) leading to a listing on the ACE Market of Bursa Malaysia Securities Berhad.

MR. LEE YOKE WAH, Associate Director of Corporate Finance, M&A Securities; MR. GARY TING, Head of Corporate Finance; MS. ANG POH YEE, Chief Operating Officer & Executive Director, YLPG; DATUK BILL TAN, Managing Director of Corporate Finance, M&A Securities; EN. MAHDZIR BIN OTHMAN, Independent Non-Executive Chairman, YLPG; MR. ANG LEE LEONG, Managing Director; MR. DANNY WONG, Deputy Head of Corporate Finance, M&A Securities; MR. KELVIN KHOO, Managing Director, Eco Asia Capital Advisory [L-R]

The Company’s IPO involves the issue of 133.10 million new shares to be issued at RM0.28 sen per share and an offer for sale of 26.62 million existing shares by way of private placement to selected investors. The public issue shares will be made available for application in the following manner:

Public issue

  • 26.62 million new shares made available for application to the Malaysian public
  • 15.97 million new shares allocated for application by eligible directors and employees
  • 23.96 million new shares by way of private placement to selected investors
  • 66.55 million new shares by way of private placement to identified bumiputera investors approved by the Ministry of International Trade and Industry (MITI)

The IPO is expected to raise gross proceeds of RM37.27 million to be utilised in the following manner:
Utilisation of proceeds

  • RM10.90 million for purchase of machinery and equipment
  • RM7.30 million for construction of warehouse facility and office building
  • RM1.80 million for renovation of office building
  • RM8.90 million for repayment of bank borrowings
  • RM4.57 million for working capital
  • RM3.80 million for listing expenses

Managing Director of YLPG, Mr. Ang Lee Leong, said: “The launch of this Prospectus is an important milestone for us as it marks the fruits of our labour from when we first started operations in 2004. As an established producer of industrial brushes, we embarked on this IPO to raise funding for our growth plans and elevate our profile in the industry.”

“To maintain sustainable growth and create long-term shareholder value, we have plans to expand manufacturing capacity and increase automation which the proceeds from the IPO enables us to implement. We are also constructing warehouse and office facilities as the current facilities are needed for the expansion of the Group’s manufacturing activities and also to cater for future business growth.”

YLPG produces industrial and technical brushes for various manufacturing industries including glove, industrial, electrical and electronic, industrial and commercial cleaning providers as well as glass and wood producers. For the financial year ended 31 December 2021 (FY2021), 76.8% of the Group’s total revenue was mainly derived from Malaysia while the remaining 23.2% was derived from the overseas market primarily located in Thailand, Vietnam, Indonesia and Taiwan, representing approximately 7.0%, 5.8%, 3.3% and 5.8% respectively.

Deputy Head of Corporate Finance, M&A Securities Sdn Bhd, Mr. Danny Wong said: “The proceeds from the IPO will allow YLPG to increase its manufacturing capacity in order to support its expansion plans and capitalise on the post Covid demand recovery. As such, we are confident that Yew Lee’s shares will be well received upon IPO.”

M&A Securities is the Principal Adviser, Sponsor, Underwriter and Placement Agent for YLPG’s IPO while Eco Asia Capital Advisory Sdn Bhd is the Financial Adviser.

Yew Lee Pacific Group Bhd: https://yewlee.com.my/

CNERGENZ Berhad IPO Shares Oversubscribed by 40.32 Times

CNERGENZ Berhad (CNERGENZ) is pleased to announce that the share allocation to the Malaysian public from its IPO has been oversubscribed by 40.32 times.

Chief Executive Officer & Executive Director of CNERGENZ Berhad, Mr. Lye Yhin Choy

CNERGENZ’s IPO comprises a public issue of 100,000,000 new ordinary Shares which were made available for application in the following manner:

  • 25,000,000 Issue Shares available for application by the Malaysian Public;
  • 10,000,000 Issue Shares reserved for application by the eligible directors and employees as well as persons who have contributed to the success of the CNERGENZ group (Eligible Persons);
  • 52,750,000 Issue Shares by way of private placement to identified institutional and/or selected investors; and
  • 12,250,000 Issue Shares by way of private placement to identified Bumiputera investors approved by the Ministry of International Trade and Industry, Malaysia (MITI); and an offer for sale of 50,000,000 Offer Shares by way of private placement to identified Bumiputera investors approved by the MITI.

A total of 16,186 applications for 1,033,093,200 Issue Shares were received from the Malaysian Public, representing an oversubscription rate of 40.32 times. A total of 9,089 applications for 376,239,100 Issue Shares were received under the Bumiputera category, representing an oversubscription rate of 29.10 times, whilst a total of 7,097 applications for 656,854,100 Issue Shares were received under the other Malaysian Public category, representing an oversubscription rate of 51.55 times.

Meanwhile, the total of 10,000,000 Issue Shares available for application by the Eligible Persons were fully subscribed.

Chief Executive Officer of CNERGENZ Berhad, Mr. Lye Yhin Choy, said, “We would like to thank investors for putting their trust in us. We are extremely pleased with the reception to our IPO as it shows deep investor confidence in our business, our solutions capabilities, and the overall optimism and positive outlook of the electronics and semiconductor industry.”

Chief Executive Officer of UOB Kay Hian Securities (M) Sdn. Bhd., Mr. David Lim said, “The response to CNERGENZ’s IPO is a reflection of investors’ appetite for businesses with fundamentally strong prospects and solid growth plans. The Company is well-positioned to leverage on the continued growth and investment in the electronics and semiconductor industries in Malaysia, Vietnam and Thailand.

UOB Kay Hian, being the Principal Adviser, Sponsor, Underwriter and Placement Agent in conjunction with the IPO, has confirmed that the 52,750,000 Issue Shares by way of private placement to identified institutional and/or selected investors have been fully placed out.

The Company is expected to list on the ACE Market of Bursa Securities on 24 May 2022.

About CNERGENZ Berhad
CNERGENZ Berhad was incorporated in Malaysia on 6 August 2021 as a private limited company under the name CNERGENZ Sdn. Bhd. and assumed its present name upon conversion to public company on 23 September 2021.

The Group is principally an investment holding company. Through its subsidiary, SiP Technology Sdn. Bhd., CNERGENZ is an electronic manufacturing solutions provider, specialising in surface mount technology (SMT) manufacturing solutions for the electronics and semiconductor industries (E&S Industries). The Group’s solutions and services are typically provided to customers who are looking to commission new integrated production lines or automate their production facilities, based on their operational requirements, budget and capital expenditure.

CNERGENZ mainly serves electronics and semiconductor companies that carry out the assembly of the advanced semiconductor packaging products as well as assembly and testing of printed circuit board assembly (PCBAs). For more information, visit cnergenz.com.

For more information, please contact:
Hakim Syed Munif
Swan Consultancy Sdn Bhd
Tel: +60 12-318 5410
Email: h.juraimi@swanconsultancy.biz

CNERGENZ Berhad launches Prospectus for ACE Market IPO

Aims to raise RM58 million from listing

Cnergenz Berhad (CNERGENZ), an established electronics manufacturing solutions provider based in Penang, has launched the Company’s Prospectus today for its upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).

Mr. David Lim, Chief Executive Officer of UOB Kay Hian Securities (M) Sdn Bhd; Mr. Kong Chia Liang, Chief Operating Officer & Executive Director of CNERGENZ Berhad; Dato’ Azman bin Mahmud, Independent Non-Executive Chairman of CNERGENZ Berhad; Mr. Lye Yhin Choy, Chief Executive Officer & Executive Director of CNERGENZ Berhad; Mr. Lye Thim Loong, Chief Corporate Officer & Executive Director of CNERGENZ Berhad [L-R]

Applications for the IPO have opened starting at 10.00 a.m. today following the Prospectus launch and will close on 11 May 2022. The targeted IPO listing date of the Company on the ACE Market is on 24 May 2022. At the IPO price of RM0.58 per share, CNERGENZ will have a market capitalisation of RM288.84 million ahead of its debut.

The IPO involves the public issue of 100.0 million issue shares and an offer for sale of 50.0 million offer shares by way of private placement at the IPO price of RM0.58 per share. From the public issue, 25.0 million issue shares will be made available for application to the Malaysian public, 10.0 million shares will be allocated for application by eligible directors and employees as well as persons who have contributed to the success of CNERGENZ Group, 52.75 million shares will be reserved for private placement to identified investors and 12.25 million shares will be reserved for private placement to identified Bumiputera investors approved by the Ministry of International Trade and Industry, Malaysia (MITI).

The IPO is expected to raise gross proceeds of RM58.0 million and shall primarily be channelled towards the Group’s expansion of its operational facility, as well as research and development expenditure and working capital purposes.

CNERGENZ is an established electronics manufacturing solutions provider specialising in surface mount technology (SMT) catering to the electronics and semiconductor industries (E&S Industries) in Malaysia, Thailand and Vietnam. The Group has an established track record in providing integrated solutions that suit the evolving nature and changing technological landscape of the E&S Industries since the commencement of its business in 2004.

Chief Executive Officer of CNERGENZ Berhad, Mr. Lye Yhin Choy, said, “We are elated to have reached a new milestone with the Prospectus launch today, bringing us a step closer towards becoming a listed entity on the ACE Market of Bursa Securities. Having been in the E&S space since 2004, our listing is in line with our growth plans and strategies to scale up our operations, expand our integrated solutions and smart factory solutions offerings and develop our own proprietary range of solutions.”

Chief Executive Officer of UOB Kay Hian Securities (M) Sdn. Bhd. (UOB Kay Hian), Mr. David Lim said, “We are pleased that the interest among institutional and selected investors, as well as MITI Bumiputera institutional and individual investors have been encouraging with many indicating strong interest to subscribe for the IPO.”

UOB Kay Hian is the principal adviser, sponsor, underwriter, and placement agent for CNERGENZ’s IPO.

CNERGENZ Bhd: https://cnergenz.com
CNERGENZ Bhd: [BURSA: CNERGENZ]