Category: Local Business

The Place Holdings Signs MOU to Acquire 51% of IP Rights Associated with Property Landmark, THE PLACE, and Iconic Attraction, Shimao Tianjie Sky Screen, in Beijing

SGX mainboard-listed company, The Place Holdings Limited (“The Place Holdings”, the “Company” and together with its subsidiaries, the “Group”), is pleased to announce that it has entered into a non-binding Memorandum of Understanding (“MOU”) to acquire a 51% stake in two entities which hold the IP Rights of design patent and certain trademarks that are related to property landmark, THE PLACE, in Beijing as well as certain assets and businesses relating to the iconic attraction, Shimao Tianjie Sky Screen, in Beijing.

Highlights:

– The first acquisition relates to the intellectual Property Rights (“IP Rights”) of design patent and certain trademarks that are used for the operations and management of the Sky Screen and real estate properties associated with the property landmark, THE PLACE (“THE PLACE”), in Beijing
– The recurring royalty income of the IP Rights are derived from the operation and management of the Shimao Tianjie Sky Screen and the usage of IP Rights in relation to the real estate properties associated with THE PLACE mall
– The second acquisition relates to the acquisition of certain assets and businesses relating to the Shimao Tianjie Sky Screen that are expected to generate operating revenue
– Shimao Tianjie Sky Screen (“Shimao Tianjie Sky Screen”) is one of the largest sky screens in Asia, comprising 7,500 sqm of LED lights that is located next to THE PLACE
– Pioneering new experiential marketing experiences, Shimao Tianjie Sky Screen continues to be a popular venue and platform for various events, advertisements and media
– Both the IP Rights and Shimao Tianjie Sky Screen are income-generative businesses and they are expected to strengthen the financial performance of the Group
– There are also various opportunities to leverage on the IP Rights and technological features of Shimao Tianjie Sky Screen to develop new business propositions related to the digital economy (such as gamification, NFTs, Metaverse) and create new revenue streams

More information on THE PLACE and Shimao Tianjie Sky Screen can be accessed at https://www.theplacebeijing.com. After the completion of the Proposed Acquisitions, the Group is expected to receive recurring royalty income from the licensing of the IP Rights for the use in the operation and management of Shimao Tianjie Sky Screen and the real estate properties associated with THE PLACE, which is a mixed-use development built in 2006, comprising two top-tier office buildings and a high-end shopping retail mall, located at No. 9 Guanghua Road, Chaoyang District, Beijing, the heart of Beijing’s Central Business District (CBD). In addition, the Group will also generate operating revenue from the operation of the Shimao Tianjie Sky Screen.

Shimao Tianjie Sky Screen is one of the largest sky screens in Asia with 7,500 sqm of LED lights across a space of 250m long and 30m wide, offering a spectacular light show experience with high-resolution imagery and state-of-the-art, immersive sound systems as well as technological features that enable interactivity.

Pioneering new experiential marketing experiences, Shimao Tianjie Sky Screen has established a strong brand and continues to be a popular venue and platform for various events, advertisements and media.

Developed by Beijing Aozhong Xingye Real Estate Development Co., Ltd, THE PLACE and Shimao Tianjie Sky Screen have quickly become a property landmark and iconic attraction in Beijing since it was unveiled to the public in September 2007.

Both the IP Rights and Shimao Tianjie Sky Screen are income-generative businesses and the proposed acquisitions are expected to strengthen the Group’s cash flow and financial performance.

With a scalable asset-light model that can be replicated across various countries, there are also various opportunities to utilise the IP Rights and technological features of Shimao Tianjie Sky Screen to potentially develop new business propositions related to the digital economy (such as gamification, NFTs, Metaverse) and create new revenue streams.

Mr Ji Zenghe, Executive Chairman of The Place Holdings, said, “With THE PLACE and Shimao Tianjie Sky Screen having been in operations for more than 15 years, the proposed acquisitions represent direct access to a well-known property landmark and iconic attraction that are both cash-flow generative and profitable.

The revenue streams from both acquisitions can strengthen our financial performance and enhance our business agility to pursue new growth initiatives.

Based on the proven operating models of the underlying assets, the Group can adopt an asset- light business approach to pursue various collaborations and opportunities across various countries in Asia.

In addition, with evolving consumer behaviors in lifestyle and business activities, we believe that there are various opportunities to leverage on the IP Rights and technological features of Shimao Tianjie Sky Screen to push the boundaries of digital innovation and develop new business propositions related to the digital economy.”

Contact:
Mr. Alex TAN
Mobile: +65 9451 5252
Email: alex.tan@8prasia.com

Motul Asia Pacific proudly launches all-new Motul Asia Hub

Lionel Dantiacq, CEO of Motul Asia Pacific, cut the ribbon to launch a new, state-of-the-art Motul regional warehouse, the Motul Asia Hub, on 1st March 2022. The Motul Asia Hub is located at the Pacific Logistics Group (PLG), Tuas Headquarters at Singapore’s brand new Tuas Mega Port. The 700,000 sq ft facility will support and enhance Motul’s supply chain across the Asia Pacific region by consolidating warehousing and inventory operations. The Hub will play a monumental role as Motul continues to build a greater presence across the APAC region and further strengthens its leadership in high performance lubricants and fluids for all uses.

Motul is excited about the launch of the Asia Hub, which will be essential to support its ambitions of accelerated growth. A modern supply chain solution will tackle the complexities of the market and streamline business operations.

The unique location of the warehouse will provide a geographical advantage for faster and easier transit with quick turnaround times for both air and sea shipments to all regional markets. The close proximity to the Tuas Mega Port makes the location of the warehouse optimal for improved supply chain efficiency. The facility will also house the latest technology, including a secure web-based inventory management system for instant access to up to date information.

Through the partnership with PLG and their bonded facilities, Motul will ensure a streamlined distribution network across the region to support its dealers. A unique aspect of the bonded facilities is the exemption of GST imposed on goods imported to be re-exported, reducing processing time and overhead costs leading to ultimate efficiency.

Motul continues to expand its market reach across APAC and exceed customer expectations. Providing the highest level of service to its customers is a core value at Motul and the Hub will enable it to meet the growing demands of the consumers. With an ever-changing automotive industry and new technologies pushing boundaries every day, the Hub will allow Motul to bring newly developed product lines to market faster than their competitors across the region. Motul aims to broaden its category reach and embrace product innovations for changing mobility requirements.

Asia has been a key market to Motul’s global business for many years, and the region continues to grow as the demand for lubricants ramps up. Motul Asia Pacific has set a clear target to focus on the needs of its discerning customers. With the launch of the Asia Hub, Motul will deliver its high-quality range of products to customers across the region in the only way they know how, fast and reliable. The Hub will also serve as a landmark for Motul to remain a preferred choice for customers for years to come.

LIONEL DANTIACQ | CEO Motul Asia Pacific

“The launch of our new Motul Asia Hub today represents an exciting continuation of our efforts to capitalize on Asia’s dynamic growth and transformation. With this Hub, we aim to streamline our supply chain in the region and bring our products to customers with greater efficiency. Catering to the customer’s need is at the core of who we are, and this Hub serves as a symbol of our dedication to hundreds of thousands of customers who choose Motul. The Hub will play a monumental role in expanding our reach, tapping new markets and bringing these amazing Motul products to existing and new customers for all their lubrication needs.”

ABOUT MOTUL

Motul is a world-class French company specialised in the formulation, production and distribution of high-tech engine lubricants (two-wheelers, cars and other vehicles) as well as lubricants for industry via its Motul Tech activity. Motul offers a whole range of products for everyday car use, including the 8100, H-tech, RBF series, ATF, CVTF and DCTF among others. Motul products ensure all parts of the car are kept in pristine condition to extract maximum performance and reliability.

Unanimously recognised for more than 150 years for the quality of its products, innovation capacity and involvement in the field of competition, Motul is also recognised as a specialist in synthetic lubricants. As early as 1971, Motul was the first lubricant manufacturer to pioneer the formulation of a 100% synthetic lubricant, issued from the aeronautical industry, making use of esters technology: 300V lubricant. In 2021, Motul launched the newest iteration of the 300V with revolutionary technology, setting a new benchmark for high-performance lubricants.
Motul is a partner to many manufacturers and racing teams in order to further their technological development in motorsports. It has invested in many international competitions as an official supplier for several championship winning racing teams.

Motul is committed to its growing business presence in Asia Pacific. Over the years, the company has expanded operations significantly. Currently it has 3 major manufacturing facilities and 2 R&D centres across the region to cater to the ever-growing demand. These centres focus on refining the lubricant technology for Asian climate and driving conditions, which are vastly different from Europe.

MOTUL Asia Pacific Pte. Ltd
1A International Business Park, #06-03
Singapore 609933
www.motul.com

For more information, please contact Motul at pr@motul.com.sg

Explore with Xplr Me

Xplr Me (Explore Me) is a digital platform that connects students to tutors, life coaches, and mentors from anywhere in the world, while they are sitting in the comfort of their living room! Pick up a new hobby, learn a new skill, or just plain understand themselves better with the assortment of classes and courses on offer!

Xplr Me goes beyond academics, and is for all age groups and life stages, putting students in touch with educators and coaches from all around the world, who will guide them to success. With life coaches teaching students how to set goals and meet them, to career coaches who will help nail the perfect resume, Xplr Me is not an average enrichment site! Be constantly enriched with continuous guidance and mentorship that will set students up for success!

THE BIRTH OF XPLR ME

Founded by founder Nirali Mehta in 2021, Xplr Me was born from the frustration of having to find teachers and mentors for herself and her two kids. Traditional classes and teachers were bound by distance and location, and by logistics, especially with the limitations brought by the global pandemic. There was always that feeling of compromise between the best teacher and mentor, and what was on offer and convenient.

Xplr Me completely eradicated this pain point by bringing educational providers and professionals together on to one platform from across the globe. Now, with Xplr Me, anyone on the hunt for classes, mentorship or guidance can visit the website, find a course that best fits their needs, at a time slot that is convenient to them. Imagine, learning a whole new language from a native speaker to the basics of photography with a professional photographer.

Nirali, Founder of Xplr Me says, “Learning has always been a passion of mine and it has always been a source of frustration when I am unable to sign up for the classes I want. When I became a mom to two kids, I also began to juggle their schedules with mine, and in finding classes that balanced their learning, between academics and life skills. This experience really opened my eyes to how it’s really difficult to find the right person to teach you what you need to learn at your convenience. That was the starting point for Xplr Me. After all, learning should be part of our life’s journey, but struggling to learn need not be.”

EXPLORE WITH EASE

Xplr Me features a wide variety of classes from academics to alternative healing, mentorship, counseling, photography, and anything else under the sun. Enthusiasts could pick from an Ayurveda course one day to a Crochet class the next.

With the classes happening completely online, students and teachers don’t even have to be in the same country! This gives students the opportunity to learn from people all around the world, and not have to settle with what is closest to them.

On the tech front, Xplr Me uses virtual tools integrated within the platform, and a custom-built calendar and appointment function to empower students to pick and choose timings, class options and tutors. Students can also pick from pre-recorded sessions to live private one-on-one classes, and group classes.

Nirali adds, “The emphasis on non-academic topics was a very mindful one. Life and social skills are just as important, and I wanted to offer that to enhance learning. Furthermore, for adults, especially, it is so difficult to pick up a new hobby with either the stressors of time, work or family coming into play. Xplr Me removes all that so adults can explore and get excited about learning new things, or picking up old hobbies again! Because Xplr Me is so flexible, there really is a whole world to explore and it all starts on Xplr Me!”

Nirali’s goal for Xplr Me is to be a platform that will empower not only students but everyone to be able to come home and learn a new hobby, a new experience or a new learning opportunity without feeling constrained by geographical locations.

About Xplr Me

Founded by Nirali X in Nov 2021, Xplr Me (Explore Me) is an unconventional online learning platform that brings a diverse range of academic and non-academic courses to anyone in the comfort of their own homes. Xplr Me goes beyond academics and is for all age groups and life stages, putting students in touch with educators and coaches from all around the world. With courses from life coaches, guitar players, tour guides, and counselors, Xplr Me is not an average enrichment site.

For more information, please contact:
Danielle Chow +65 9727 7766 danielle@madhat.asia
Krisha Ramos +65 9181 8408 krisha@madhat.asia

GWI Drives APAC Expansion with Hire of Aditi Kohli

Following its successful US$180 million in Series B funding in February 2022, valuing the company at US$850M, GWI, the leading audience insights company, is well on its way to ambitious growth plans in the APAC region, spearheaded by the hiring of Aditi Kohli as APAC Senior Vice President. Aditi will be based in Singapore.

Aditi will drive the company’s growth, working with enterprise partners to help them gain a deeper understanding of local consumers. The investments are being utilized to further advance GWI’s software-as-a-service (SaaS) platform, as well as hiring new talent to support global expansion.

GWI has already seen strong growth in APAC, with over 20% of its clients based in the region. As the company continues to expand, it will offer much-needed alternatives to traditional market research, which is often not fit-for-purpose, too slow, expensive, and difficult to scale. Through GWI’s intuitive and easy-to-use platform, as well as its extensive data collection in APAC, organisations can access an instantaneous view of harmonised data-sets representing 2.7 billion digital consumers across 48 geographies, including 14 markets in APAC, gaining faster and deeper insights to make data-backed decisions.

Many of the world’s most influential brands, media organisations and agencies already leverage GWI to deliver global insights at scale. With Asia home to 60% of the world’s population, and over 2,300 languages, there is a clear need for brands and businesses to fully understand the demands of each individual segment and have clear, unique and localised insights that allow them to make real business decisions.

“We are deeply committed to Asia-Pacific,” said GWI CEO and Founder Tom Smith, “The size and breadth of the region means it can be hard for companies to navigate and be able to make proper data-driven decisions. GWI is able to provide them with deep insights and allow them to create the right strategy. When we launched our new office in Singapore we knew that we would need to find the right person to lead this exciting growth opportunity and Aditi is the perfect person for this. Her breadth of experience will be instrumental in growing our presence, talent and customer base. We’re very excited for the future of GWI in APAC.”

Aditi has a proven track record in scaling businesses from scratch. She joins GWI after two decades of experience working in APAC leadership roles with Foursquare, Near, The Walt Disney Company and MTV Asia.

“I am honoured to join GWI as we continue to revolutionise insights on digital consumers worldwide through technology,” Aditi said. “We’re seeking to bolster the APAC team, and looking to hire talented professionals (commercial sales and customer success) with a passion for market intelligence and innovation who can support the rapid expansion of our business.”

GWI has emerged strongly from the COVID-19 global pandemic, promoting a positive hybrid working culture and placing great emphasis on training and developing its staff. With five offices globally, GWI plans to strengthen its hiring to over 600 employees by 2023. See here for the latest open roles.

About GWI

GWI is the leading audience insights company. Its SaaS platform and custom data products are trusted by the world’s biggest brands, media organizations, and agencies on a daily basis to gain a deep understanding of their audiences at speed.

The company’s flagship survey represents 2.7 billion people globally. Through a combination of survey data and analytics, clients can gather in-depth insights into behaviours, attitudes, and interests from rich data sets including GWI Core, GWI Kids, GWI Sports, GWI USA, GWI.

Media Contact:
The Hoffman Agency
GWISG@hoffman.com

Leon Fuat Berhad’s Q4 Profit After Tax Jumps 61.8% to RM29 Million

Leon Fuat Berhad (“Leon Fuat” or the “Group”), a manufacturer and trader of steel products, specialising in rolled long and flat products today released the Group’s financial results for the fourth quarter ended 31 December 2021 (“Q4FY2021”) recording 61.8% growth in profit after tax (“PAT”) to RM29.09 million compared with RM17.98 million in the corresponding quarter of the preceding year (“Q4FY2020”).

The Group is pleased to note that for the quarter under review, revenue increased by 27.8% to RM254.21 million compared with RM198.96 million in Q4FY2020 while profit before tax (“PBT”) recorded a 106.5% increase to RM38.61 million compared with RM18.70 million.

On a segmental basis, revenue from trading of steel products registered a 26.5% increase to RM81.95 million while revenue from processing of steel products recorded a 28.4% rise to RM172.18 million. The trading segment’s contribution to revenue stood at 32.2% in Q4FY2021 compared with 32.6% in the corresponding quarter of FY2020 while the processing segment’s contribution stood at 67.7% compared with 67.4% in Q4FY2020.

For the financial year ended 31 December 2021 (“FY2021”), PAT grew 377.6% to RM135.98 million compared with RM28.47 million in the preceding financial year. PBT increased 418.1% to RM172.85 million compared with RM33.36 million while revenue gained 50.4% to RM886.58 million compared with RM589.58 million registered in FY2020.

Calvin Ooi Shang How, Executive Director of Leon Fuat said, “The Group’s financial performance for the quarter under review was supported by higher revenue and better gross profit margin from the rise in average selling prices in both the trading and processing of steel products. For the financial year as a whole, revenue was also supported by higher overall average selling prices that also resulting in better overall gross profit margin”.

“We are maintaining our cautious outlook for 2022 on downside risks arising from decelerating economic growth amid continued COVID-19 flareups across the world, diminishing policy support and lingering supply bottlenecks. While the Malaysian economy is expected to grow by 5.5% to 6.5% this year on continued external demand and private sector expenditure, we note concerns over new virus variants, inflation and financial stress that could weigh on economic recovery too”.

“We will continue to monitor the movement of steel prices as we anticipate commodity price volatility due to global factors. Our monitoring will also continue for foreign currencies while negotiating forward contracts where necessary and having prudent inventory management. The Group will continue to actively address COVID-19 concerns by adhering strictly to standard operating procedures and having in place emergency response teams in three of our major subsidiaries”.

CATALIST-listed AOXIN Q&M records 21% growth in revenue for full year ended 31 December 2021

Catalist listed Aoxin Q&M Dental Limited (“Aoxin” or “the Group”), today announced a 20.8% increase in revenue to RMB160.2 million for full year ended 31 December 2021 (“FY2021”). The Group reported a net loss after tax of RMB7.3 million for FY2021, an improvement from the net loss of RMB12.1 million from a year ago. In 2020, in view of COVID-19 situation, the Chinese government provided temporary relief to businesses by waiving the social security insurance contributions. Aoxin would have additional RMB6.3 million of social security insurance expenses recorded in FY2020 resulting in a Net Loss of RMB18.4 million, instead of RMB12.1 million.

Dr. Shao Yongxin, Group Chief Executive Officer of Aoxin Q&M said, “Global economic prospects for 2022 will continue to be uncertain, with many countries still struggling to contain the rapid spread of the Omicron variant. The possibility of new COVID-19 strains cannot be ruled out. However, Aoxin Q&M’s dental services make it resilient and well-positioned ride out the current downturn to capitalize on strategic opportunities in the post-COVID healthcare sector”.

Mr Ryan San, Deputy Chief Executive Officer of Aoxin Q&M said, “The Group has been operating in a challenging environment, severely impacted by the recurring lockdowns of entire cities in the People’s Republic of China (“PRC”). We are keeping a close watch on the evolving COVID-19 situation in PRC, while managing our costs with strict discipline.”

Revenue

The Group’s revenue increased by RMB27.6 million or 20.8%, from RMB132.6 million in FY2020 to RMB160.2 million in FY2021, mainly due to the recovery in all business segments.

Revenue from primary healthcare segment increased by 19.7% from RMB78.5 million in FY2020 to RMB93.9 million in FY2021. The increase in revenue were from our key hospitals in Shenyang and Dalian cities, and a polyclinic in Panjin city mainly due to increase in patients.

Revenue from distribution of dental equipment and supplies segment achieved a significant growth of 24.8%. Revenue was RMB50.4 million in FY2021 as compared to RMB40.4 million in FY2020. There was a higher demand for dental supplies materials from government hospitals amidst a gradual economic recovery in China backed by rolling out of the COVID-19 vaccination in the country.

Revenue from laboratory services segment increased by 15.9% to RMB15.9 million in FY2021 as compared to RMB13.7 million in FY2020 due to increase in demand of such services from the government dental hospitals in Shenyang City.

EBITDA

The Group’s EBITDA also increased from RM9.5 million in FY2020 to RMB13.9 million in FY2021. The increase in EBITDA was mainly attributable to higher revenue and better performance from key dental hospitals and polyclinics as well as higher sales for dental equipment and supplies. Despite a positive EBITDA of RMB13.9 million, the Group recorded a loss of RMB7.3 million due to salary increment and recruitment expenses, as well as higher other expenses, such as acquisition related fees for Acumen Diagnostics Pte. Ltd. (“Acumen Diagnostics”) and other tax expenses.

Mr Ryan San, Deputy Chief Executive Officer of Aoxin Q&M added. “We are also hopeful that moving forward, our recent acquisition of a 49% stake in Acumen Diagnostics will improve the profitability and cashflow of the Group. With Acumen Diagnostics expertise in R&D and medical diagnostics we will be able to play a vital role in support of the Singapore government’s strategy of living with COVID-19. Concomitantly, this will also contribute to the growth of the Group.”

Updates on associate – Acumen Diagnostics

– Capabilities to Tackle Omicron COVID-19 Variant

Acumen Diagnostics will continue to offer COVID-19 testing by polymerase chain reaction (“PCR”) for patients that require PCR test results and for travelers as Singapore opens its borders, as well as distribute COVID-19 antigen rapid tests (“ART”). It will also launch a panel of new PCR tests for infectious diseases, sepsis and cancer.

On 3 December 2021, Acumen Diagnostics announced that its proprietary, locally-manufactured PCR test kits Acu-Corona 2.0 and Acu-Corona Duplex are able to detect COVID-19 positive cases infected with the Omicron variant. On 16 December 2021, Acumen Diagnostics announced that it has been granted a license by Ministry of Health, Singapore to provide offsite COVID-19 PCR swab services and serology sample collection at 100 clinics.

Acumen Diagnostics will continue to roll out its testing services via the Q&M Dental Group Limited’s network of clinics, and also at its headquarters located at The Gemini, 41 Science Park Road, Singapore. Currently, Acumen Diagnostics has about 61 clinics providing the testing services island-wide.

– Proposed listing on NASDAQ stock exchange in relation to Acumen Diagnostics Pte. Ltd.

On 17 January 2022, Aoxin announced that the associated company of the Group, Acumen Diagnostics is exploring a proposed listing of its securities on the NASDAQ stock exchange in New York, USA. In this regard, Acumen Diagnostics has appointed UOB Kay Hian Private Limited to assist Acumen Diagnostics with the listing evaluation and all relevant preparatory work including the selection of professional advisers and underwriting banks in relation to the proposed listing and fund-raising exercise.

Looking Forward

Aoxin’s FY2021 results reflects the significant upturn in revenue as compared to FY2020 revenue which was the period when the COVID-19 pandemic in PRC was in a more serious phase. As the COVID-19 situation in the PRC continues to improve, we expect the Group’s revenue to correspondingly improve.

In addition, the recent 49% acquisition of medical technology company, Acumen Diagnostics for S$29.4 million on 1 November 2021, will enhance the profitability of the Group going forward.

The business environment is expected to remain challenging for the year ahead, as many countries including PRC struggle to contain the rapid spread of the COVID-19 virus demonstrated by new waves of infections.

The Group will continue to focus on disciplined management of operating expenditures, costs and capital expenditures. The Group will continue to monitor its expenses and maximise cost efficiency for operations.

Barring any unforeseen circumstances and further worsening of the COVID-19 situation such as ad-hoc lock down or temporary closures in cities where we operate, there are no known significant changes in the trends and competitive conditions of the industry in which the Group operates and no other major known factors or events that may adversely affect the Group in the next reporting period and the next 12 months. The Group will continue to monitor its operating expenses and maximise cost efficiency for operations.

For more information, please see attached files or the below links:
https://bit.ly/35eeZSh
https://bit.ly/3IgRxCt

This announcement has been reviewed by the Company’s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”) and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Ms. Lim Hui Ling, 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318, sponsorship@ppcf.com.sg

About Aoxin Q&M Dental Group Limited (Stock Code: 1D4.SI) www.aoxinqm.com.sg

Aoxin Q&M Dental Group Limited (“Aoxin Q&M” or together with its subsidiaries, the “Group”) is a leading provider of private dental services in the Liaoning Province, Northern People’s Republic of China (“PRC”). The Group operates 16 dental centres, comprising 10 dental polyclinics and 6 dental hospitals, located across 8 cities in Liaoning Province, namely Shenyang, Huludao, Panjin, Gaizhou, Zhuanghe, Jinzhou, Dalian and Anshan.

We currently have 400 dental professionals, including 170 dentists, 180 dental surgery assistants and 50 laboratory technicians.

A majority of the dental centres are accredited as Designated Medical Institutions of Medical Insurance. Additionally, the Group is engaged in the provision of dental laboratory services, as well as the distribution and sale of dental equipment and supplies in the Liaoning, Heilongjiang and Jilin Provinces in Northern PRC.

Aoxin Q&M was listed on the Catalist board of the Singapore Exchange Securities Trading Limited on 26 April 2017.

About Acumen Diagnostics Pte. Ltd. (www.acumen-research.com)

Acumen Diagnostics Pte. Ltd. (“Acumen Diagnostics”) is a homegrown Singaporean, award-winning medical technology company. It is fully integrated with functions in research and development, manufacturing, as well as commercialisation of molecular diagnostics by distribution as well as conducting clinical laboratory testing services for (including but not limited to) infectious diseases, cancer, and COVID-19. It has also actively established frontline services such as COVID-19 on-site swabbing operations.

Acumen Diagnostics is a 51% subsidiary of SGX-listed Q&M Dental Group (Singapore) Limited (SGX: 1D4.SI) and 49%-owned by SGX-listed Aoxin Q&M Dental Group Limited (SGX: QC7.SI).

Media and Analysts: please contact below for more information: Waterbrooks Consultants Pte. Ltd.
+65 6958 8008, query@waterbrooks.com.sg
Wayne Koo (M): +65 9338 8166, wayne.koo@waterbrooks.com.sg
Derek Yeo (M): +65 9791 4707, derek@waterbrooks.com.sg

Q&M Dental records historic highest-ever revenue and profit after tax for year ended 31 December 2021 and declares a full year dividend yielding 7%

Q&M Dental Group (Singapore) Limited (“Q&M” or together with its subsidiaries, the “Group”), a leading private dental healthcare group in Asia, today reported the highest-ever revenue and profit after tax of S$205.6 million and S$39.4 million respectively for the financial year ended 31 December 2021 (“FY2021”). This is the best set of financials in Q&M’s 25-year history since its founding in 1996. Net profit after tax attributable to shareholders for FY2021 jumped 55% to S$30.5 million compared to S$19.7 million compared to a year ago.

Quarterly Financial Performance since the start of Covid-19 (From 4Q2019)

The Covid-19 pandemic had no impact on the Group’s core dental and medical clinics business segment and continued its strong growth trend. On a Quarterly basis, the Group’s revenue also recorded a steady increase from S$36.4 million in 4Q2019 to S$53.3 million in 4Q2021.

FY2021 Financial Performance

For the FY2021, total revenue improved by S$68.0 million or 49% from S$137.6 million to S$205.6 million. Revenue from dental and medical clinics increased by 27% to S$160.2 million. The increase was mainly due to higher revenue from existing and new dental clinics in Singapore.

Revenue from medical laboratory and dental equipment & supplies segment jumped by 304% to S$45.4 million. The increase was mainly due to revenue from the Group’s Covid-19 medical laboratory business. The medical laboratory license from MOH was obtained in September 2020.

The Group’s EBITDA for FY2021 correspondingly increased by 68% to S$63.3 million, from S$37.7 million in the previous period.

The Group’s net profit after tax in FY2021 increased by 98% to S$39.4 million from the S$19.8 million recorded in FY2020. PATMI (Profit after tax attributable to Shareholders excluding Minorities) grew by 55% to S$30.5 million, from S$19.7 million in the previous period.

Earnings per share increased to 3.23 Singapore cents for FY2021, from 2.09 Singapore cents in the previous period.

As at 31 December 2021, the Group’s financial position remains strong with net assets of S$97.8 million, as well as cash and cash equivalents of S$47.6 million. Bank borrowings and financial liabilities amounted to S$83.7 million.

Fourth interim Dividend

The Group declares a fourth interim dividend of 1.0 Singapore cent per ordinary share for 4Q2021. In the last three quarters of 2021, the Group paid 1.0 Singapore cent in 1Q2021, 1.0 Singapore cent in 2Q2021 and 1.0 Singapore cent in 3Q2021. The total dividends work out to 4.0 Singapore cents for FY2021 translating to a 7% dividend yield based on closing share price of 56.5 cents and a dividend payout ratio of 113%. The 4Q2021 dividend will be paid on 24 March 2022.

Operational Update – Growth & Expansion in medical clinics

As at 31 December 2021, the Group has 136 dental clinics as compared to 118 in 31 December 2020, an increase of 18. The Group’s number of medical clinics in Singapore remained unchanged at 5. (See Table 1)

In Singapore, the Group’s number of dental clinics in Singapore grew to 97 in FY2021 from 83 in FY2020. The Group opened 15 new clinics and consolidated 1 clinic in Singapore in 2021 resulting in a net increase of 14 clinics. (See Table 2)

Similarly, for overseas, the number of dental clinics has increased to 39 in FY2021, as compared to 35 previously. 38 dental clinics are in Malaysia and 1 dental clinic is in the People’s Republic of

China (“PRC”). The locations of the dental clinics in Malaysia are 15 in Johor, 18 in Kuala Lumpur and 5 in Malacca. (See Table 3).

To support this growth, the Group has also increased its total number of dentists to 270 as at 31 December 2021, as compared to 250 a year ago.

Updates on subsidiary – Acumen Diagnostics Pte Ltd

The Group continues to focus on investment opportunities in sectors that are synergistic and aligned with its business strategy. Associate Company Aoxin Q&M Dental Group Limited (“Aoxin”)’s recent acquisition of a 49% shareholding of Acumen Diagnostics Pte. Ltd. (“Acumen Diagnostics”), raised Q&M’s effective interest in Acumen Diagnostics to 67% from 51% in October 2021. With 1 scientist, 16 medical technologists and 36 other staff, Acumen Diagnostics’ technical capabilities and infrastructure in molecular diagnostics, enables it to do research and development, manufacturing, as well as clinical laboratory testing.

– Capabilities to Tackle Omicron Covid-19 Variant

For Acumen Diagnostics, the Group will continue to offer COVID-19 testing by polymerase chain reaction (“PCR”) for patients that require PCR test results and for travelers as Singapore opens its borders, as well as distribute COVID-19 antigen rapid tests (“ART”). It will also launch a panel of new PCR tests for infectious diseases, sepsis and cancer.

On 11 November 2021, Acumen Diagnostics announced that it has been granted the license by Ministry of Health, Singapore to provide door-to-door COVID-19 PCR home swab services.

On 3 December 2021, Acumen Diagnostics announced that its proprietary, locally-manufactured PCR test kits Acu-Corona 2.0 and Acu-Corona Duplex are able to detect COVID-19 positive cases infected with the Omicron variant. On 16 December 2021, Acumen Diagnostics announced that it has been granted a license by Ministry of Health, Singapore to provide offsite COVID-19 PCR swab services and serology sample collection at 100 clinics.

Acumen Diagnostics will continue to roll out its testing services via the Group’s network of clinics, and also at its headquarters located at The Gemini, 41 Science Park Road, Singapore. Currently, the Company has about 61 clinics providing the testing services island-wide.

– Appoints UOB Kay Hian Private Limited as Arranger to Explore NASDAQ Listing

On 17 January 2022, Q&M announced that Acumen Diagnostics is exploring a proposed listing of its securities on the NASDAQ stock exchange in New York, USA. Acumen Diagnostics has appointed UOB Kay Hian Private Limited to assist Acumen Diagnostics with the listing evaluation and all relevant preparatory work including the selection of professional advisers and underwriting banks in relation to the proposed NASDAQ listing and fundraising exercise.

Looking Forward – Expansion Plans

Dr Ng Chin Siau, said “Q&M will embark on 4 pillars of growth. Firstly, expansion of our core dental business in Singapore, Malaysia as well as South East Asia and China for sustainable growth. “Our Group intends to open at least 30 dental clinics a year from 2021 onwards in Singapore and Malaysia for the next 10 years.”

Secondly, the use of medical technology such as our proprietary Artificial Intelligence Guided Clinical Decision Support System to provide the most effective and suitable treatment plans for patients This will enable us to scale up consistency and quality throughout our network clinics.

Thirdly, expand our clinical testing laboratory business to test Covid-19 and other diseases such as dengue sepsis and other bacterial pathogens.

Fourthly, invest in medical and healthcare business that will enhance our shareholder’s value such as Acumen Diagnostic.”

Q&M Group will continue to execute our business plans outlined below:

1. Expansion of network of dental clinics in Singapore, Malaysia and Southeast Asia

Q&M will focus on its operations in Singapore and has initiated a strategy of intensive organic growth for its dental clinics in Singapore. It will expand its team of dentists to support the future growth of its operations in Singapore.

The Group intends to open at least 30 dental clinics a year for the next 10 years from 2021 onwards in Singapore and Malaysia and continue to look for opportunities to expand its business through the opening of new dental clinics in Southeast Asia.

The eventual number of dental outlets will depend on available opportunities, pertinent market conditions and the evolving Covid-19 situation.

2. Expansion into private dental healthcare market in China

Q&M’s main thrust of expansion in China is through organic growth to develop a new and sustainable growth pillar that can yield long term value for the Group.

3. Artificial Intelligence Guided Clinical Decision Support System (AI-GCDSS)

Q&M will continue to develop, invest, and optimise its proprietary digital Artificial Intelligence (AI) Guided Clinical Decision Support System to provide the most effective and suitable treatment plans for patients. The Group believes it is well-positioned to cater to patients’ rising demand for primary and higher value specialist dental healthcare services.

4. Medical Laboratory

Q&M will focus on rolling out its clinical testing laboratory’s pipeline of new tests including PCR assays for dengue sepsis and the identification of bacterial pathogens and their associated antibiotics resistance in pneumonia and bloodstream infections.

Looking Forward

Barring any unforeseen circumstances, such as a rapid worsening of the Covid-19 situation in Singapore and Malaysia, there are no known significant changes in the trends and competitive conditions of the industry in which the Group operates and no other major known factors or events that may adversely affect the Group in the next reporting period and the next 12 months.

[1] Based on closing share price of 56.5 cents as at 17 February 2022

Please see links for PDF documents from SGXNET.
https://links.sgx.com/FileOpen/QnM_FY%202021_PRESS_RELEASE.ashx?App=Announcement&FileID=703150
https://links.sgx.com/FileOpen/QnM_4Q2021_Result_Announcement.ashx?App=Announcement&FileID=703149

About Q&M Dental Group (Singapore) Limited (QC7.SI) www.QandMDental.com.sg

Q&M Dental Group (Singapore) Limited (“Q&M” or together with its subsidiaries, the “Group”) is a leading private dental healthcare group in Asia. The Group owns the largest network of private dental outlets in Singapore, operating 98 dental outlets across the country. Underpinned by about 270 experienced dentists, 7 doctors and over 350 supporting staff, the Group sees an average of 40,000 patient visits a month in Singapore. The Group also operates 5 medical clinics and a dental supplies and equipment distribution company.

Outside of Singapore, the Group has 38 dental clinics and a dental supplies and equipment distribution company in Malaysia, as well as a dental clinic in the People’s Republic of China (“PRC”). Q&M is also the substantial shareholder of Aoxin Q&M Dental Group Limited, a dental Group listed on the Catalist board of the Singapore Exchange, which operates dental clinics and hospitals primarily in the North- eastern region of the PRC. The Group aims to expand its operations geographically and vertically through the value chain in Malaysia, the PRC and within ASEAN.

In 2018, the Group made inroads into the development of advanced technology in healthcare with the establishment of EM2AI Pte. Ltd. (“EM2AI”, formerly known as Q&M Dental AI Pte. Ltd.). EM2AI focuses on developing an Artificial Intelligence (AI) ethical enhanced guided treatment plan.

In 2019, the Group expanded into dental postgraduate education with the establishment of the Q&M College of Dentistry. It offers Singapore’s first private postgraduate diploma programme in clinical dentistry.

In 2020, the Group also expanded into the medical laboratories and research industry with the incorporation of Acumen Diagnostics Pte. Ltd. (“Acumen Diagnostics”). Acumen Diagnostics currently focuses on the manufacture, sale and distribution of COVID-19 diagnostic test kits, as well as COVID-19 testing.

The Group was listed on the Mainboard of the Singapore Exchange Securities Trading Limited (“SGX- ST”) on 26 November 2009.

For more information, please contact:
Waterbrooks Consultants Pte Ltd
Tel: +65 6958 8008 (M) +65 9690-4959 email: query@waterbrooks.com.sg
Wayne Koo – wayne.koo@waterbrooks.com.sg (M) +65 933 88166
Derek Yeo – derek@waterbrooks.com.sg

Hospitality 360 Launches Kuantan 188, Malaysia’s Second Tallest Tower; Targeting 350,000 Visitors This Year

Hospitality 360, the hospitality arm of MAA Group Berhad, is pleased to announce the unveiling of Kuantan 188, a 188-metre tower that graces the heart of Kuantan, Pahang as well as Malaysia’s second-tallest tower, on 20 February 2022.

Locals and tourists alike can now buy tickets online at Kuantan 188’s official website, travel Artificial Intelligence (“AI”) technology platform Go Tifi and on site to visit this iconic tower with the only 360-degree view of Kuantan. They can enjoy a panoramic view of Kuantan City and the Kuantan River, while adrenaline junkies are sure to enjoy extreme activities such as the ‘Sky Walk’, ‘Drop Zone’ and ‘Anthena Climb’ similar to those found at Macau Tower and Taipei 101.

The launch saw Kuantan 188 unveil its new logo and receive certification as an official member of the World Federation of Great Towers. It was a momentous and auspicious occasion with the attendance of YB Datuk Seri Dr Santhara J.P., Deputy Minister of Tourism, Arts and Culture Malaysia; Datuk Seri Mohd Sharkar, Chairman of the Pahang State Tourism, Culture, Environment, Plantation and Commodities Committee; and Dato’ Indera Omar Naresh Mohan (“Dato’ Indera Omar”), the President and Group CEO of Hospitality 360.

“Malaysians and the people of Pahang are lucky to have the second tallest tower in our country with stunning views. I believe that today’s launch will give a new breath and an injection of exciting spirit to the management of Kuantan 188 to further develop this tower to the eyes of the world, especially in attracting more domestic and foreign tourists to visit Kuantan 188 and Pahang,” said YB Datuk Seri Dr Santhara.

“This launch coincides with the takeover of tower operations on 1 January 2022. We aim to make Kuantan 188 a modern tourism destination hub in Pahang and the East Coast by launching a series of activities here in the coming months,” Dato’ Indera Omar mentioned.

Kuantan 188 is a strategic landmark developed by the Federal Government through the East Coast Economic Region Development Council (ECERDC) in collaboration with the Pahang state. Kuantan 188 is part of a series of developments to improve the Kuantan Waterfront, a key asset and cultural heritage that will enhance the city’s tourist attractions in the area.

Guests may visit the tower from 10.00am to 10.00pm on weekdays or 10.00am to 12.00am on weekends with tickets beginning from RM15 for adults and RM10 for children to visit the observation deck; RM28 for adults and RM18 for children to visit the Skydeck; and RM38 for adults and RM18 for children to visit both the observation deck and Skydeck.

Bintai Kinden Corporation Berhad Emerges as Substantial Shareholder in Malaysian Genomics Resource Centre Berhad

Malaysian Genomics Resource Centre Berhad (“MGRC” or “the Group”), a leading genomics and biopharmaceutical specialist, is pleased to announce the entry of a new substantial shareholder, Bintai Kinden Corporation Berhad (“Bintai Kinden”), a specialist in mechanical and electrical engineering services to the construction sector, in the Group.

Bintai Kinden now has an effective shareholding of 5.03% stake in MGRC, following the acquisition of 6.25 million shares by Bintai Trading Sdn. Bhd., a wholly-owned subsidiary of Bintai Kinden, on 17 February 2022.

Following the acquisition, Encik Noor Azri bin Dato’ Sri Noor Azerai (“Azri Azerai”), who was redesignated as an Executive Director of MGRC effective from 16 February 2022, will oversee the business development, human resources and finance functions of the Group. Azri Azerai has relinquished his role as Deputy Chief Executive Officer (“CEO”) of Bintai Kinden after taking up the new role in MGRC, but will remain on the Board of Bintai Kinden as an Executive Director.

Azri Azerai, who was appointed to Bintai Kinden’s Board in July 2021 as an Executive Director, and subsequently redesignated as the Deputy CEO, has successfully turned Bintai Kinden’s earnings black since the first quarter of FY2022.

Speaking on his new role in MGRC, Azri Azerai said, “There are synergies in both companies that we intend to harness as Bintai Kinden diversified into the healthcare sector through the acquisition of Johnson Medical International Sdn. Bhd. (“JMI”) in November 2021. We see plenty of opportunities that MGRC and Bintai Kinden can jointly enter into and leverage each other’s strengths.”

JMI specialises in medical facility development and construction projects where it provides medical engineering solutions such as operating theatres, critical care units and medical gas delivery systems. JMI is also a trader of medical equipment and supplies.

“We want both MGRC and Bintai Kinden to reap the benefits of working together. As I sit on the Boards of both companies, we will have better coordination and focus on where both companies can seek opportunities to grow as there is great potential for both.”

Malaysian Genomics Resource Centre Berhad Records Significant Increase in Revenue of RM7.63 Million

Malaysian Genomics Resource Centre Berhad (“MGRC” or “the Group”), a leading genomics and biopharmaceutical specialist, today announced that it recorded revenue of RM7.63 million for the second quarter ended 31 December 2021 (“2Q FY2022”), a significant increase of RM7.49 million compared with revenue of RM0.14 million for the corresponding quarter of the previous year.

The increase in revenue stems from the contribution of the Group’s biopharmaceuticals division, which contributed 78% of total revenue and was largely due to the distribution of immunotherapy and cell therapies as well as COVID-19 vaccine distribution and administration.

MGRC registered profit after tax (“PAT”) of RM1.01 million for 2Q FY2022 compared with a loss of RM1.55 million in the previous corresponding quarter, with the swing back to profitability due to the higher margins from the distribution of immunotherapy and cell therapies.

For the first six months ended 31 December 2021 (“1H FY2022”), the Group registered revenue of RM16.94 million, which is an increase of RM16.72 million compared with revenue of RM0.22 million in the corresponding period of the previous financial year. MGRC registered PAT of RM1.25 million for 1H FY2022 compared to a loss of RM2.39 million in the corresponding period of the previous financial year.

Dato’ Alvin Nesakumar, Executive Director of MGRC, said, “The significant improvement in revenue was due to the new revenue streams arising from our diversification into the biopharmaceuticals sector in late 2020 while our return to profitability was led by the successful ramp up in distribution of higher margin immunotherapy and cell therapies. Our financial performance for the quarter under review is progressing positively and we believe it is strong enough for us to start regularising our stock listing status.”

The Group also announced the redesignation of Encik Noor Azri bin Dato’ Sri Noor Azerai (“Azri Azerai”) as an Executive Director from Independent Director previously. His redesignation takes effect from 16 February 2022. Azri Azerai is currently an Executive Director of Bintai Kinden Corporation Berhad (“Bintai Kinden”), and an Independent Non-Executive Director in both Serba Dinamik Holdings Berhad and NWP Holdings Berhad.

“We welcome Azri Azerai as our executive director as he shares the same vision for MGRC’s future as the region’s leading precision and personalised healthcare services company. He has the experience in helping the turnaround of Bintai Kinden’s financial performance to black subsequent to his appointment on its Board in July 2021, following which he was redesignated as the Deputy CEO within a year.”

Alvin added, “As the economy continues to recover, we are seeing important opportunities for innovative commercial partnerships and collaborations in the fields of genomics and biopharmaceuticals. We look forward to announcing these new initiatives in the coming months.”