Local Business Archives - Page 34 of 48

PEFINDO Affirms idA Rating for WIKA

PT Pemeringkat Efek Indonesia (Pefindo) affirms PT Wijaya Karya (Persero) Tbk (IDX: WIKA or Company) rating at idA with ‘stable’ outlook. Pefindo also affirms WIKA’s Shelf Registration Bonds I Year 2020 and Shelf Registration Bonds II Year 2021 at idA, and Shelf Registration Sukuk Mudharabah I Year 2020 and Shelf Registration Sukuk Mudharabah II Year 2021 at idA(sy).

The Company’s rating reflects Pefindo’s optimism in its performance as a strong, national construction company supported by robust financial flexibility and diversified revenue sources. One of the reasons of the affirmation was an increase in new contracts by 57.54% YoY to Rp12.4 trillion (at time of writing) from Rp7.9 trillion.

The rating by Pefindo was well-received by the Company’s President Director, Agung Budi Waskito (Agung BW). He stated that the Company was able to cement its strong position due to WIKA’s assignment to work on the Government’s G20 preparation projects, such as Revitalisation of Halim Perdana Kusuma Airport, Construction of VVIP Terminal of I Gusti Ngurah Rai Airport, and Improvement and Construction of Roads and Bridges in Labuan Bajo.

“The assignment indicated the government’s trust in WIKA’s capability to carry out projects serving as supporting facilities for international events”, said Agung BW.

He added that the Company is prepared to take part in the upcoming construction of the new Capital City.

Follow-up Construction in Labuan Bajo to Celebrate TWG20

The Company plays a role in the Improvement and Construction of Roads and Bridges in Labuan Bajo, Nusa Tenggara Timur to support the G20’s Tourism Working Group (TWG) meeting. The project also helped to realise the Super-Priority Tourism Destinations project (Destinasi Pariwisata Super Prioritas, “DPSP”). In the project, the Company is building roads and bridges spanning from Labuan Bajo – Sp. Nalis – Sp. Kenari, Sp.Kenari – Tana Mori with a total length of 25 kilometres.

This project is a follow-up of the Company’s earlier projects in Labuan Bajo. Its portfolio in Labuan Bajo includes the Operations Supporting Facilities and the Wae Kelambu Multipurpose Terminal at Labuan Bajo Port for PT Pelabuhan Indonesia (Persero). Completed in 2021, the port serves as a logistics hub, tourism support, and cargo and container handling in Labuan Bajo. In addition, the Company’s subsidiary, WIKA Gedung oversaw development of Pantai Bukit Marina and Bukit Pramuka, part of the National Strategic Tourist Areas.

In carrying out the projects, the Company always used high quality domestic products increase operations efficiency and support national economic growth.

PT WIJAYA KARYA (Persero) Tbk. [IDX: WIKA]

Contact:
Mahendra Vijaya
Sekretaris Perusahaan
Email: mahendra.v@wikamail.id
Website: https://www.wika.co.id/

Sarawak Consolidated Industries Berhad Welcomes New Batch of Trainees for Industrial Training

Sarawak Consolidated Industries Berhad (SCIB), a civil engineering specialist, is pleased to welcome a new batch of trainees from Institut Latihan Perindustrian Kota Samarahan (ILPKS), Sarawak, to the Company for physical training as part of the industrial training programme in their final year.

Rosland bin Othman, Managing Director and Chief Executive Officer of SCIB

ILPKS was established by the Department of Manpower under the Ministry of Human Resources in 1999, to meet the needs of Malaysia’s skilled workforce by providing vocational training at the intermediate level with specialisation in high-tech fields and in-line with the need for technological developments in the manufacturing sector.

The trainees were accepted into the programme following a Memorandum of Understanding (MoU) signed between the SCIB and ILP Kota Samarahan in October 2020. The MoU gives opportunities for industrial students to undergo training; offers industrial instructors places for industrial attachment training; offer job opportunities to qualified Institut Latihan Jabatan Tenaga Manusia graduates and offers short-term courses to SCIB employees who want to upgrade their skills.

At the ILPKS Convocation Ceremony today, Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said, “Professional management on human capital is what we strive to do in SCIB. The younger generations are the future of any institution and even the country and that is why we must focus on the youth as they are the foundation of our society.”

“We provide them with a platform to learn and grow, thus giving them better understanding of their craft and the industry. Employment shall be given to promising students as well. We also believe that providing opportunity for our employees to expand their knowledge, expertise and experience with the course.”

Over the years, SCIB has trained approximately 179 trainees with specific skillsets such as engineering, accounting, business management and construction, while pursuing their certification, diploma and degree. These skillsets allowed the trainees to be employed in their chosen careers. Several trainees had the opportunity to be a part of the SCIB family.

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

Amazfit to Launch Bip 3 Series of Smartwatches in Malaysia from 15 June

Amazfit, a premium smart wearable hardware brand owned by Zepp Health Corporation, is going Big with Bip in the latest launch of smartwatches catered to the pursuit of an active and healthy lifestyle.

The Bip 3 will be launched online on 15 June while the Bip 3 Pro is available for pre-orders until 25 June, when it is launched online. The Bip 3 is available for the first seven days after launch on the Shopee e-commerce platform, of which the first three days is exclusive to Amazfit’s flagship online store on Shopee.

Encased in a super-slim and light body, there is nothing small about the Bip 3 series of smartwatches because when you Think Big, you Think Bip as these smartwatches powered by the Zepp OS operating system and leveraging on big data optimises technology to provide a whole range of personalised sports, health and lifestyle experiences.

Jacob Jin (Amazfit SEA Director) Amazfit said, “Smartwatches in the US$25 to US$75 price category continues to grow globally. The Bip series is one of the top selling smartwatches priced between US$39 and US$49 with advantages in ID, screen size and endurance. Bip is Big in all the ways that count with a super-large display screen that allows the wearer to see more and do more.”

The Bip 3 series come with 1.69″ LCD screens, over 50 vibrant watch faces, up to two weeks battery life, 5-ATM water resistance, over 60 sports modes and health monitoring that includes blood-oxygen saturation measurement, heart rate, stress level and sleep monitoring and, Personal Activity Intelligence health assessment system. Exclusive to Bip 3 Pro is the 5 Satellite Positioning Systems.

The Bip 3, which comes in black, blue or pink, is priced at RM199 while the Bip 3 Pro, which comes in black, cream or pink, is priced at RM249. For the first 100 customers who gets their hands on a Bip 3, they will receive an exclusive Amazfit Headband.

“Bip is Big in letting the wearer express themselves as they can accessorise by choosing from a range of eye-popping watch faces that can be downloaded from the Zepp OS App. Wearers can customise which widgets to show on the editable watch face options or even upload of their favourite photos to the watch face.”

To know more on the Bip 3 series of smartwatches, please go to www.amazfit.com/en or to Amazfit’s e-commerce partner platform http://bit.ly/Amazfit-MY-SHOPEE.

Amazfit: www.amazfit.com/en

Seng Fong Holdings Berhad Launches Prospectus for Main Market IPO

Seng Fong Holdings Berhad, a rubber processor producing and trading Standard Malaysia Rubber and premium grade block rubber. Block rubbers produced are sold directly to end-user customers and international rubber traders, majority of which are tyre manufacturers. Seng Fong is enroute to a listing on the Main Market of Bursa Malaysia Securities Berhad and is pleased to announce the launch of the Company’s prospectus for the initial public offering (IPO).

Seng Fong’s IPO involves the issuance of 160.87 million ordinary shares or 31.0% of the Company’s enlarged number of issued shares comprising a public issue of 90.81 million shares and an offer for sale of 70.06 million shares. The issued shares will be made available for application in the following manner:

Retail offering of 42.20 million shares representing 8.1% of enlarged number of issued shares will be made available in the following manner:

– 25.95 million shares representing 5.0% of enlarged number of issued shares will be made available for application by the Malaysian public (via balloting), of which 50% will be set aside for bumiputera investors including individuals, companies, societies, co-operatives and institutions
– 16.25 million shares representing 3.1% of enlarged number of issued shares reserved for application by eligible persons

Institutional offering of 118.67 million shares representing 22.9% of enlarged number of issued shares will be made available in the following manner:

– 64.87 million shares by way of private placement to bumiputera investors approved by the Ministry of International Trade and Industry
– 53.80 million shares by way of private placement to other institutional and selected investors

Managing Director of Seng Fong, Mr. Er Hock Lai said, “Our immediate objectives from the listing are to optimise production by increasing our total annual capacity through the hiring of additional workers for a second working shift and implementing the ESG initiatives to make our business to be more sustainable.

“We intend to use part of the proceeds raised the IPO to fund our working capital requirements to expand annual production capacity to 166,000 metric tonnes by 2023 from the current capacity of 142,000 metric tonnes. To further our ESG initiatives, we are also using proceeds raised from the IPO to repay bank borrowings that we have used to install two solar systems that will help reduce overall electricity expenses.”

“We are also allocating proceeds raised from the IPO for the installation of two biomass system using wood chips and replacing diesel to reduce overall fuel costs for our factories. We estimate that the use of the solar systems will result in savings of RM2.6 million while the biomass system will help us save RM3.5 million. On top of the cost saving, the use of renewable energy to reduce electricity and fuel consumption is in line with our emphasis on having sustainable business operations and the need to conserve the environment.”

“Building on our solid fundamentals and business reputation, we intend to recommend at least 50% of our annual net profit as dividend to shareholders subject to the approval of the Board of Directors and shareholders.”

Group Managing Director/Chief Executive Officer of HLIB, Ms. Lee Jim Leng said, “Today marks a milestone for Seng Fong Holdings as the company embarks on a new chapter from a journey that began in 1986 when Mr. Er Hock Lai and his brothers founded the business to process rubber for the domestic market.

We believe that Seng Fong Holdings will be able to leverage on this IPO to attain their immediate objectives while enhancing its presence in the international market for rubber processing.”

Almost all of Seng Fong’s revenue is derived from sales to international customers for FYE2019 to FYE2021. For the nine months ended 31 March 2022, Seng Fong posted RM662.43 million of revenue with gross profit of RM61.74 million and profit after tax of RM31.32 million.

Seng Fong Holdings Bhd: http://sengfongholdings.com/

Sarawak Consolidated Industries Berhad Provides Further Clarification on LOA from Ennova

Sarawak Consolidated Industries Berhad (SCIB), a civil engineering specialist, wishes to clarify further on the Letter of Award dated 7 June 2022 (LoA) granted by Ennova Sdn Bhd appointing SCIB Properties Sdn Bhd (SCIBP) as a sub-contractor to undertake an engineering, procurement, construction and commissioning contract in connection with the Integrated Smart Lamp Pole Replacement project for Dewan Bandaraya Kuala Lumpur (DBKL).

In addition to the information furnished in the LoA, Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, noted that SCIBP’s scope of work included but is not limited to site clearing, excavation and reinforced concrete footing structure, laying all reinforcement concrete, bolts and nuts, and plates on all mild steel structures, with the poles, fittings and accessories to be supplied by Ennova.

“The scope also includes perimeter chain-link fencing works, mild steel gates and erection; earthworks, levelling, setting out, making point, and other related works; mechanical and engineering works such as wiring, switch boxes, connection to conduits, lay ground earth cable and rem as well as installation of monopole.”

Ennova is to bear all construction cost of the poles, including the rental of each erected pole in accordance with the agreed rental price between it and DBKL.

“We are unaware of any funding or financing arrangement for the contract by DBKL.

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

Malaysian Genomics Resource Centre Berhad Gets Affected Issuer Status Uplifted

Malaysian Genomics Resource Centre Berhad (Bursa: MGRC, 0155), a leading genomics and biopharmaceutical specialist, is pleased to announce that it is uplifted from being classified as an affected listed corporation effective 13 June 2022.

Azri Azerai, Executive Director of Malaysian Genomics

Sasha Nordin, CEO and Dato’ Alvin Nesakumar, Executive Director of Malaysian Genomics [L-R]

This followed the decision by Bursa Securities Malaysia Berhad to grant the Group a waiver in submitting a regularisation plan after being classified as an affected listed corporation pursuant to Rule 8.03A of the Listing Requirements. Bursa Securities had made the classification according to Rule 8.03A on 24 December 2019 and Malaysian Genomics had submitted an application seeking approval to exempt the Group from submitting a proposed regularisation plan on 24 March 2022. The waiver was granted on 10 June 2022.

Encik Azri Azerai, Executive Director of Malaysian Genomics, said, “I am extremely thankful to the team for working diligently to get Malaysian Genomics out of the affected issuer classification status and welcome this news from the regulator. Our diversification into biopharmaceutical services, in particular the distribution of immunotherapy and cell therapies, has supported the financial performance of the Group. I believe that we can grow together, as a team.”

In a recent announcement on its 3Q 2022 performance, Malaysian Genomics reported a profit before tax (PBT) of RM1.96 million compared with PBT of RM0.2 million in 3Q 2021. Earnings per share (EPS) stood at 1.60 sen for 3Q 2022 compared with EPS of 0.19 sen in the corresponding quarter of the previous financial year.

Mr. Sasha Nordin, Chief Executive Officer of Malaysian Genomics said, “We will continue to seek opportunities through collaborations and partnerships targeting new consumer and market segments, including those beyond Malaysia, as we strive to widen our reach and capitalise on heightened awareness on health issues across the region and farther afield. We look forward to introducing new products and markets in the near future.”

Dato’ Alvin Nesakumar, Executive Director of MGRC, said, “As we have shared before, we are also moving towards offering our products and services through adopting a business-to-consumer strategy to complement our business-to-business approach because trends are changing and technology enables us to reach out directly to consumers. This new approach will give us better insight into what the market needs.”

Malaysian Genomics Resource Centre Berhad: http://www.mgrc.com.my/
Malaysian Genomics Resource Centre Berhad: 0155 / [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK]

Hektar Asset Management Appoints New CEO

Hektar Asset Management Sdn. Bhd., the Manager of Hektar Real Estate Investment Trust (Hektar REIT) is pleased to announce the appointment of En. Johari Shukri bin Jamil, 50, as the Chief Executive Officer (CEO) of Hektar Asset Management effective 11 June 2022.

En. Johari Shukri bin Jamil, CEO of Hektar Asset Management (Link) En. Johari will succeed Dato’ Hisham bin Othman, 60, who has reached mandatory retirement age after helming Hektar Asset Management as CEO since May 2016. The Board would like to extend its appreciation to Dato’ Hisham for his valuable contribution & service and wish him all the best in his future endeavours.

En. Johari who was appointed to the Board of Directors of Hektar REIT as Non Independent Non Executive Director in February 2022 and who is now redesignated as the Executive Director/CEO, brings over 20 years of extensive corporate experience, holding senior leadership positions in various industries, including Real Estate & Industrial Development, Logistics & Engineering.

His expertise in asset management, corporate finance, strategy, operations & managing businesses to achieve the desired results through transformational initiatives is very relevant to the REIT and is expected to be put to good use in leading Hektar REIT to continue its post pandemic recovery and to chart new strategic initiatives. En Johari holds a Bachelor of Science in Chemical Engineering from UTM and a Certificate in Advanced Leadership Program from the Judge Business School of the University of Cambridge.

The Board & the Management looks forward to working with En. Johari to take Hektar REIT to the next phase of growth as we continue our drive to optimise and grow the REIT’s portfolio for stable and sustainable returns to our Unitholders.

About Hektar Real Estate Investment Trust

Hektar Real Estate Investment Trust (Hektar REIT) is Malaysia’s first listed retail-focused REIT. The primary objectives of Hektar REIT are to provide unitholders with sustainable dividend income and to achieve a long-term capital appreciation of the REIT. Hektar REIT was listed on the Main Market of Bursa Malaysia Securities Berhad on 4 December 2006 and currently owns 2 million square feet of retail space in 4 states with assets valued at RM1.16 billion as at 31 December 2021. The REIT’s strategic partner is Frasers Centrepoint Trust, part of Frasers Property Ltd, headquartered in Singapore. Hektar REIT is managed by Hektar Asset Management Sdn Bhd and the property manager is Hektar Property Services Sdn Bhd. Hektar REIT’s portfolio of commercial properties includes Subang Parade in Subang Jaya, Selangor; Mahkota Parade in Melaka; Wetex Parade & Classic Hotel in Muar, Johor; Central Square in Sungai Petani, Kedah; Kulim Central in Kulim, Kedah and Segamat Central in Segamat, Johor. For more information, please visit www.HektarREIT.com

For more information or inquiries, please contact:
Hektar Asset Management Sdn Bhd
Investor Communications
Tel: +603 6205 5570
Fax: +603 6205 5571
Email: ir@HektarREIT.com
Web: www.HektarREIT.com

OTS Holdings Launches Plant-Based, Ready-to-Eat Food Brand ‘ANEW’; Three ‘ANEW’ Luncheon Meat Products to be Sold in Online Stores and Major Supermarkets Across Singapore

OTS Holdings Limited (“OTS Holdings” or the “Company”, and together with its subsidiaries, the “Group”), a brand builder and food manufacturing group, is pleased to announce that it has launched a plant-based, ready-to-eat food brand ANEW that aims to deliver quality, nutrition and convenience to consumers with a taste of heritage. For more information on ANEW, please visit www.anew-foods.com.

Highlights:
– Coupled with the tagline “Better Food Forward”, ANEW is a 100% plant-based, ready-to-eat brand that aims to deliver quality, nutrition and convenience to consumers with a taste of heritage
– Developed by its in-house R&D team and manufactured in Singapore, the first product line-up from ANEW consists of three luncheon meat products that are inspired by the Group’s popular luncheon meat products
– Tasty on its own and yet highly versatile, ANEW’s luncheon meat products can also be used for a variety of Asian and Western cuisines
– ANEW’s nutritional product features include Non-GMO, Cholesterol Free, Trans-Fat Free and No Added Preservatives
– ANEW’s luncheon meat products are sold in online stores and will be made available in major supermarkets across Singapore
– According to Bloomberg, the plant-based foods market could make up to 7.7% of the global protein market by 2030, with a value of over US$162 billion, up from US$29.4 billion in 2020(1)

Developed by its in-house R&D team and manufactured in Singapore, ANEW’s luncheon meat products are tasty on its own and yet highly versatile to be used for a variety of Asian and Western cuisines. ANEW’s luncheon meat products are currently sold in online stores and will be made available in major supermarkets across Singapore.

Managing Director of OTS Holdings, Mr. Ong Bee Chip said: “Increased awareness of environmental and sustainability benefits have been a key driving force for plant-based alternatives to become a growing part of consumers’ diet around the world.

In addition, plant-based alternatives can also mitigate concerns of food security as the world’s population continues to grow.

With ANEW, we see an opportunity to participate in the fast-growing plant-based foods market, where we want to be able to meet consumer’s expectations so that they can continue to enjoy their favourite food experience with our plant-based products based on our popular recipes.”

(1) bloom.bg/3tohg6E

About OTS Holdings Limited
(Bloomberg: OTS:SP / SGX Stock Code: OTS)

Established in 1993, OTS Holdings Limited is a brand builder and food manufacturing group in the consumer industry with a strong niche in ready-to-eat and ready-to-cook meat products with key markets in Singapore and Malaysia.

The Group’s vision is to develop a growing portfolio of established consumer brands and become an innovative market leader in the region. Targeting both halal and non-halal consumer segments, the Group has more than 1,100 SKUs across 13 main product types under its seven house brands and notably the Group’s flagship brands, “Golden Bridge” and “Kelly’s” have become established household names within the ready-to-eat and ready-to-cook meat products market in Singapore and Malaysia.

The Group owns and operates three modern food manufacturing facilities, two in Singapore and one in Bulan Island, Indonesia. In Singapore, its integrated food manufacturing facilities with in-house research and development team span across around 9,131 sq m with an average annual production of around 2,500 tonnes of ready-to-eat and ready-to-cook meat products.

The Group’s food products are sold in major supermarkets, convenience stores, provision shops, hotels and restaurants in Singapore and Malaysia. Having built an established sales and distribution network over the past few decades, the Group aims to expand its presence in existing markets and overseas.

For more information, please visit the Company’s website at www.ots-holdings.com.

Issued on behalf of OTS Holdings Limited by 8PR Asia Pte Ltd.

Media & Investor Contacts:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

This press release has been prepared by the Company and its contents have been reviewed by the Company’s sponsor, SAC Capital Private Limited (the “Sponsor”). This press release has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.

The contact person for the Sponsor is Ms Charmian Lim (Telephone (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.

Yew Lee Pacific Group Berhad Debuts at RM0.285 on ACE Market

Yew Lee Pacific Group Berhad, an established manufacturer principally involved in the manufacturing of industrial brushes as well as trading of industrial hardware and machinery parts, was successfully listed today on the ACE Market of Bursa Malaysia Securities Berhad with an opening price of RM0.285 sen per share, compared with the initial public offering (IPO) price of RM0.28 sen per share.

Ms. Andrea Huong, Independent Non-Executive Director, Yew Lee; Ms. Lim See Tow; Mr. Andrew Yaw; Ms. Ang Poh Yee, COO & Executive Director; En. Mahdzir Bin Othman, Independent Non-Executive Chairman; Mr. Ang Lee Leong, Managing Director; Ms. Chee Wai Ying, Executive Director; Mr. Ang Lee Seng; Datuk Bill Tan, Managing Director of Corporate Finance of M&A Securities; Mr. Danny Wong, Deputy Head of Corporate Finance; Mr. Woon Soon Fai, Financial Adviser of Eco Asia Capital Advisory[L-R]

Thanking the Securities Commission Malaysia, Bursa Securities, M&A Securities Sdn Bhd, Eco Asia Capital Advisory Sdn Bhd and other professionals involved in the IPO, Chairman of Yew Lee Encik Mahdzir Bin Othman said, “I am extremely grateful to share this wonderful moment with the investors, customers and suppliers who have supported our humble company since its inception in 2004 as an industrial brush manufacturer. We are overwhelmed by the positive response and are very pleased with our debut on the ACE Market today.”

The Company is raising RM37.27 million from the IPO exercise. From the IPO proceeds, RM10.9 million would be used for the purchase of additional machinery and equipment, RM7.3 million for the construction of a new warehouse facility and office building in Pusing, Perak, RM1.8 million for renovation of new office in Klang Selangor, RM8.9 million for the repayment of bank borrowings, RM4.57 million for working capital requirements and RM3.8 million for the listing expenses.

Encik Mahdzir also announced that Yew Lee will continue to strengthen their market position as one of the key industry players in the industrial brush industry in Malaysia. “We see this listing as an opportunity to realise our future plans and strategies, including expansion and upgrading of our production facilities as well as developing a range of customisable industrial brushes catering to a diverse customer base.”

“As such, we have also allocated RM3.6 million from our IPO to make advance purchases on materials to support the increase in our manufacturing activities in tandem with the rise in demand of our range of brushes. This will improve our inventory and availability levels and shorten overall lead time for delivery. The purchase of additional machinery and equipment is also to automate production processes and reduce labour costs.”

Yew Lee currently has an estimated market share of 12.4% of the total size of the industrial brush industry in Malaysia of RM254.50 million in 2021, based on the Company’s revenue from the manufacturing of industrial brushes segment of RM31.60 million during the financial year ended 31 December 2021.

The Company plans to automate more of its operations to reduce dependency on labour and intends to expand market share in the trading of machinery parts in the central region of Peninsular Malaysia as well as have a bigger presence in Indonesia and Thailand through Yew Lee Indonesia and Yew Lee Thailand, both of which were established in 2019.

The Company recently declared a first interim dividend of RM0.003 sen per ordinary share in respect of financial year ending 31 December 2022 (FY2022) to be paid on 12 July 2022.

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

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

Financial services veteran Dato’ Seri Dr Mohamed Azahari joins auction technology firm BidNow as new Corporate Advisor

BidNow, one of Malaysian’s largest auction technology platforms, has appointed Dato’ Seri Dr Mohamed Azahari Kamil as its new Corporate Advisor with immediate effect. His appointment is expected to spur the company’s growth and further develop its tremendous potential for robust auction sales.

In his new role, Mohamed Azahari will be contributing his wealth of experience in the corporate world to facilitate BidNow’s further expansion domestically and internationally, as well as lead the company towards an initial public offering (IPO) stage.

Mohamed Azahari, who has previously held positions as chief executive officer of Asian Finance Bank Bhd and group managing director of QSR Brands (M) Holdings Bhd (which operates over 1,250 KFC and Pizza Hut restaurants), has had a distinguished career in several industries such as financial services, property, F&B, education and more. Some of the other private and public organisations that he held senior management posts in prior to this include KPJ Healthcare Bhd, Malaysian Industrial Development Finance Berhad, Permodalan Nasional Berhad Group and Amanah Raya Group.

He is also currently a Non-Executive Director in Aurelius Healthcare Sdn Bhd and SEG International Bhd, as well as Corporate Advisor to Titijaya Land Bhd, Ni Hsin Group Bhd and HCK Capital Group Bhd.

Commenting on the new appointment, BidNow founder and CEO Frankie Goh said: “We are thrilled to have Dato’ Seri Dr Mohamed Azahari, a proven leader in the business world, to join us as our new corporate adviser. His reputation along with a deep wealth of knowledge that is relevant to what we are doing in the auction and technology space, ensures that BidNow will be able to aggressively grow its platform regionally and eventually become a leading one-stop e-commerce bidding platform for sales of products and services.”

“BidNow is not only currently one of the largest property auction trading platforms in Malaysia, but is also an e-commerce marketplace for other items such as furniture and home appliances, motor vehicles, luxury goods, electronic gadgets, and soon non-fungible tokens (NFT). Dato’ Seri Dr Mohamed Azahari brings to the table a rich track record of identifying key growth strategies and successfully positioning companies to be able to scale up into high-growth start-ups, and billion-dollar market leaders. We look forward to working with him as we translate that keen business acumen into market leadership in the SEA region which is our next step.”

Mohamed Azahari’s distinguished and successful career includes growing funded assets from millions to billions of ringgit, listing the first Government Real Estate Investment Trust (Amanah Raya REIT) and several other private limited companies on the Kuala Lumpur Stock Exchange, and providing asset management services to hundreds of government-linked companies and high net worth individuals with returns on investment exceeding the market benchmark.

“BidNow is at an exciting point in its evolution,” said Mohamed Azahari, new Corporate Advisor at BidNow. “There are over 200,000 active members and 10,000 marketing agents registered on the platform, and they are currently expanding to Indonesia, Thailand, Cambodia, Vietnam and Philippines on top of already being present in Malaysia and Singapore. Their business prospects look very promising, and I am pleased to be a part of their journey as they progress to even greater heights.”

BidNow or Bidnow.my is a one-stop e-commerce bidding platform that makes it easy for anyone to sell any products or services to individuals who share similar hobbies and interests. For more information, visit www.bidnow.my.

BidNow: https://www.bidnow.my/