Category: Manufacturing

SKYX Platforms to Introduce its Upcoming Gen-1 Game-Changing Platform Technology Video Demo

  • The Gen-1 specifications received a historical approval vote by ANSI / NEMA for a plug & play ceiling outlet/receptacle for safe installation of lighting and ceiling fans.

SKYX Platforms Corp. (NASDAQ:SKYX) (d/b/a Sky Technologies) (SKYX, we or the Company), a highly disruptive platform technology company with over 60 issued and pending patents globally for simplifying and enhancing safety and automation in homes and buildings, today announced the introduction of a demo video of its Gen-1 game-changing ceiling platform technology, the specifications of which just received a historical approval vote by ANSI / NEMA, the leading U.S. standardization organizations for homes, buildings and the electrical industry.

Hundreds of millions of lengthy installations of light fixtures take place, all while people risk their lives by touching hazardous electrical wires while standing on ladders. These risks result in millions of hazardous incidents including shorts, fires, falls from ladders, electrocutions, injuries and death. These hazardous incidents can be greatly reduced or even eliminated by using the SKYX plug and play ceiling outlet receptacle. The SKYX technology simplifies the installation process while significantly reducing both time and cost, as well as substantially reducing hazardous incidents, injuries, and death.

The specifications of the new SKYX safe weight-supporting plug & play ceiling outlet/receptacle were approved by the U.S. leading home and building standardization organizations, the American National Standards Institute (“ANSI”) and the National Electrical Manufacturers Association (“NEMA”). Below is the video demo link of SKYX’s Gen-1 product including the ANSI / NEMA approved safe plug & play ceiling outlet/receptacle.

Video Link: http://skyxplug.com/video

Steve Schmidt, former CEO of Nielsen Corporation and former President of Office Depot International and current President of SKYX Platforms, said: “We are extremely proud to introduce our Gen-1 smart and safe technology platform towards our upcoming product launch. We strongly believe that the simplicity of our technology, as well as its safety aspects, will revolutionize the lighting and ceiling fan industries by enabling people to install fixtures safer, faster, and more often.”

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: “Introducing our Gen-1 video demo is an important step in our market education process as it will demonstrate how safe, simple, cost and time saving our solution is. It’s about time that people stop risking their lives while installing light fixtures and ceiling fans. The significant advantages of our smart plug & play Gen-1 technology will enhance innovation as well as fixture replacement.”

About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the standard. SKYX Platforms Corp. (NASDAQ:SKYX) has a series of highly disruptive advanced-safe-smart platform technologies, with over 60 U.S. and global patents and patent pending applications. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyxplug.com or follow us on LinkedIn.

Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Our estimates of the addressable market for our products may prove to be incorrect. The projected demand for our products could materially differ from actual demand. Forward-looking statements speak only as of the date they are made and include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement of presales, the Company’s efforts and ability to drive the adoption of Sky’s Plug Smart Platforms into multi-family residential buildings and communities and adoption by hotels, ability to capture market share, ability to execute on any sales and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. In particular, the American National Standards Institute’s (ANSI) and the National Electrical Manufacturers Association’s (NEMA) vote for the standardization of the Company’s weight-bearing plug and outlet/receptacle for ceilings does not guarantee approval by the National Fire Protection Association’s (NFPA) Committee on the National Electrical Code (which consists of multiple code-making panels and a technical correlating committee and develops the National Electrical Code (NEC)) or any other trade or regulatory organization and does not guarantee that any of the Company’s products will become National Electrical Code (NEC)-code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all. There can be no assurance as to any of these matters. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations Contact:
Lucas A. Zimmerman
MZ North America
(949) 259-4987
SKYX@mzgroup.us

SOURCE: SKYX Platforms Corp. dba Sky Technologies

Minetech’s Revenue for 1Q Rises 43.0% to RM24 Million

Company’s loss before tax narrows to RM1.66 million

Minetech Resources Berhad, a civil engineering specialist and bituminous products manufacturer, today announced that the Company registered a 43.2% rise in revenue for the first quarter ended 30 June 2022 (1Q FY2023) to RM24.05 million compared with RM16.80 million in the corresponding quarter of the last financial year (1Q FY2022).

Matt Chin, Executive Director of Minetech

For the quarter under review, the Company recorded a loss before tax (LBT) of RM1.66 million compared with LBT of RM4.35 million in 1Q FY2022.

On a segmental basis, Minetech’s civil engineering division posted revenue contribution of RM13.7 million for 1Q FY2023, a gain of 34.3% compared with RM10.2 million in 1Q FY2022. The manufacturing division, which produces bituminous products for pipe coating, waterproofing and sealing, recorded revenue contribution of RM5.85 million, a gain of 75.1% compared with RM3.34 million in 1Q FY2022.

Matt Chin, Executive Director of Minetech, said, “The civil engineering division’s contribution was supported by higher revenue from the Selinsing Gold Mine in the quarter under review compared to the corresponding quarter of the previous financial year as production regained traction while the manufacturing division saw a significant rise in revenue due to an increase in sales as a result of improved demand from water piping and road paving projects.”

“Recent news flow point to firmer domestic economic growth and the announcement of the MRT3 project together with the continuation of other large civil infrastructure projects is positive for the construction sector as there will be need for civil engineering services as well as bituminous products.”

“We will continue to be vigilant given the more challenging global economic outlook. We have rationalised our corporate structure and in recent years diversified into other businesses to enhance our financial performance while ensuring more stable recurring income. Our narrower losses for the quarter are a result of these measures.”

Minetech Resources Berhad: 7219 [BURSA: MINE], https://minetech.com.my/

SKYX Achieves Historic U.S. Standardization Approval Vote – a Major Milestone Towards Mandatory Status for Safety of Consumers and Professionals

SKYX Platforms Corp. (NASDAQ:SKYX) (d/b/a Sky Technologies) (SKYX, “we” or “the Company), a highly disruptive platform technology company, with over 60 issued and pending patents globally for simplifying and enhancing safety and automation in homes and buildings, today announced that its universal safe installation specifications for plug & play ceiling outlet for lighting and fan products has been officially voted on and approved by ANSI/NEMA, the leading U.S. standardization organizations for the standardization of the SKYX safe weight-bearing plug and outlet/receptacle for ceilings (SkyPlug).

The American National Standards Institute (“ANSI”) is the leading U.S. standards approval organization, whose standards are regularly specified by most architects and engineers for U.S. residential and commercial buildings to ensure safety, quality and reliability. The National Electrical Manufacturers Association (“NEMA”) is a standards-developing organization that promotes the standardization of major U.S. electrical products for manufacturers. The achievement of an ANSI / NEMA vote approval is a lengthy and rigorous process, widely considered to be very difficult to achieve. Examples of other products that are standardized include the wall outlet, GFCI bathroom outlet and other key products that are included in every home in the U.S.

The standardization of the SKYX plug & play weight-bearing plug and outlet/receptacle for ceilings by ANSI/NEMA will universally provide SKYX’s product specifications to manufacturers to help save lives, time and money for both professionals and consumers, enabling them to install light fixtures and ceiling fans with a safe plug & play installation in just minutes, if not seconds.

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: “This standardization approval vote opens the door to major sales and licensing opportunities, as well as a milestone achievement not only for SKYX, but for consumers and professionals across the nation. In today’s world, I believe that consumers and professionals shouldn’t have to risk their lives standing on ladders for a long time, while touching hazardous wires to install light fixtures and ceiling fans. Additionally, this is a significant development for lighting and fan companies as well as showrooms. It not only saves their customers both time and money, but enables them to safely and quickly replace light fixtures and ceiling fans, and purchase fixtures much more often for a variety of reasons – be that to match fashion trends, accommodate the changing of seasons, holidays and more.”

Mark Earley, former Chief Electrical Engineer at NFPA, former head of the NEC and current Chair of the SKYX Safety Advisory Board, said: “This is a significant achievement for SKYX and the safety of U.S. consumers and professionals. With hundreds of millions of installations taking place in the U.S., there are many risks associated with installing or replacing light fixtures and ceiling fans. These risks include injuries and deaths from fires, shocks, electrocutions, and falls from ladders. These risks can be reduced by using the SKYX safe plug and play installation method, that also saves installation time, which substantially reduces time spent on ladders.”

Bernard Zyscovich, a leading U.S. architect, internationally recognized design and thought leader, and Chair of the SKYX Architectural & Real Estate Advisory Board, said: “Having the ANSI/NEMA approval vote to include a design of a product is on top of the list for architects and engineers and a substantial deciding factor determining builders’ product acceptance. As it reflects product integrity, quality and most important, safety. This achievement by SKYX’s ceiling outlet receptacle and plug is ground-breaking.”

About SKYX Platforms Corp.
As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the standard.

SKYX Platforms Corp. (NASDAQ:SKYX) has a series of highly disruptive advanced-safe-smart platform technologies, with over 60 U.S. and global patents and patent pending applications. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com or follow us on LinkedIn.

Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained in this press release constitute forward-looking statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Our estimates of the addressable market for our products may prove to be incorrect. The projected demand for our products could materially differ from actual demand. Forward-looking statements speak only as of the date they are made and include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement of presales, the Company’s efforts and ability to drive the adoption of Sky’s Plug Smart Platforms into multi-family residential buildings and communities and adoption by hotels, ability to capture market share, ability to execute on any sales and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. In particular, the American National Standards Institute’s (ANSI) and the National Electrical Manufacturers Association’s (NEMA) vote for the standardization of the Company’s weight-bearing plug and outlet/receptacle for ceilings does not guarantee approval by the National Fire Protection Association’s (NFPA) Committee on the National Electrical Code (which consists of multiple code-making panels and a technical correlating committee and develops the National Electrical Code (NEC)) or any other trade or regulatory organization and does not guarantee that any of the Company’s products will become National Electrical Code (NEC)-code mandatory in any jurisdiction, or that any of the Company’s current or future products or technologies will be adopted by any state, country, or municipality, within any specific timeframe or at all. There can be no assurance as to any of these matters. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Relations Contact:
Lucas A. Zimmerman
MZ North America
(949) 259-4987
SKYX@mzgroup.us

SOURCE: SQL Technologies, Inc. dba Sky Technologies

Taiwanese Companies Flock to ASEAN for Growth

In the last 6 years, the New Southbound Policy has played an integral role in enabling Taiwanese enterprises to diversify and capture opportunities in one of the fastest growing regions in the world, ASEAN. During the period of January to October 2021, Taiwan invested US$5.3 billion in the ASEAN region, which amounted to 38.7% of the country’s total overseas investments, the highest proportion in 20 years.

In ASEAN, current trends reflect a shift towards customer-driven hyper-personalisation, as well as data-enabled optimisation. Considering the increasing focus on the ASEAN market, growth of Taiwanese enterprises are aligned with these regional trends.

Customer-driven Innovation

ASEAN consumer patterns have shifted in the last few years and enterprises have adapted to meet changing customer needs in the area of health, security and mobility.

Amidst the global pandemic, health has been growing to be a central focus for consumers, with 85% expressing concern over health, according to an Asia-Pacific 2021 survey by Ernst & Young. This has contributed to an increased health and wellness expenditure in Southeast Asia. In the emergence of this trend, ible Technology Inc. has come up with a wearable air purifier to provide purified air surroundings for consumers as they go about their daily lives. This solution adopts ible’s unique Breathing Pathway Eco Ion Technology, and this technology will produce over 20 million negative ions (around 100 times more ions than a forest produces) surrounding user’s face to remove pollutants from the air, including viruses and other airborne particles.

The recent cyberattack and data breach incidents have put personal data protection and security concerns under the spotlight. This topic has never been more relevant in the age of rapid technology adoption and data-driven organisations, with 83% of ASEAN-based organisations being highlighted as data-driven in the AIBP ASEAN Enterprise Innovation Survey 2021/22. In recognition of this, Maktar offers a smart backup solution with an integrated microSD lock encryption feature that prioritises customer data security.

The establishment of the ASEAN Smart Cities Network has provided a collaborative platform where cities from the ten ASEAN Member States can work towards the common goal of smart and sustainable urban development. With advancing smart city initiatives, smart mobility is gaining traction as consumers look towards convenient and user-centric transportation services. Leveraging on IoT, IBASE designed an embedded computing platform for a smart parking metre that provides efficient parking management services such as occupancy detection and online payment, enabling customer mobility needs to be met.

Accelerating Business Outcomes with Frontier Technologies

According to AIBP ASEAN Enterprise Innovation Survey 2021/22, 62.8% of enterprises in ASEAN perceive business intelligence platforms that help make sense of data as the digital transformation investment that will drive the largest benefits to their organisation. Galaxy Software Services (GSS) is one of the major players in this space. In helping Perfirmtex International Co.,Ltd to improve their customer data management process, GSS built a CRM that enabled efficient lateral communication with key stakeholders like customers and partners, boosting customer satisfaction. This was guided by their Insight to Action Model where predictive analytics assists in deriving customer behaviour insights from data and following that, insights are used to optimise customer engagement efforts.

Digitalisation and automation of operations was found to be the top digital transformation focus of ASEAN organisations from a 2021 AIBP survey. In line with this, various enterprises have created tech-enabled solutions to facilitate process optimisation. An AI Edge Server by AAEON supported the smart manufacturing process of a machine manufacturer in the semiconductor industry. Accounting for end user needs, AAEON designed products that were compact and dissipated heat easily.

About AIBP

AIBP serves as an avenue for public and private organisations in Southeast Asia to access and exchange information about growth and innovation within the B2B space. With a current network of over 30,000 stakeholders in Southeast Asia, AIBP continues to develop ecosystems by engaging in activities which create value-adding information for our stakeholders seeking to make transformative impacts within their organisations. For additional information about AIBP, please visit https://iotbusiness-platform.com/.

About Taiwan Excellence Awards

AAEON, IBASE, Galaxy Software Services, ible Technology, and Maktar were recently recognized by the Taiwan Excellence Awards. These awards have been established by the country’s Ministry of Economic Affairs since 1993 to celebrate how technological innovation helps people live more rewarding lives. Each year, the Taiwan Excellence Awards select the most innovative products in Taiwan across four major categories: R&D, design, quality, and marketing. As well as recognizing domestic achievement, the awards serve as a benchmark for innovation and excellence in international markets.

Contact:
Mr. Irza Fauzan Suprapto
Email: irza@industry-platform.com
Phone: (+65) 9759 5343

Seng Fong Holdings Berhad Debuts on Main Market of Bursa Malaysia

Raising RM68.1 million from IPO, for business expansion and cost-saving ESG initiatives

Seng Fong Holdings Berhad, a rubber processor producing and trading Standard Malaysia Rubber and premium grade block rubber, made a successful debut on the Main Market of Bursa Securities Malaysia Berhad, opening at RM0.75 per share with an opening volume of 10.8 million shares, which is the same as the initial public offering (IPO) price of RM0.75 sen per share.

Seng Fong’s market capitalisation at listing is RM389.22 million, and the Company was listed under the stock name, SENFONG and stock code, 5308.

The Chairman of Seng Fong, Mr. Ng Ah Bah @ Kok Yee, thanked the Securities Commission Malaysia, Bursa Securities, Hong Leong Investment Bank Berhad (HLIB) and other professionals involved in the IPO, and highlighted that the listing provides the Company the opportunity to realise its immediate objectives as well as investing in environmental, social, and governance (ESG) initiatives.

“Going forward, we will be well-positioned to capture opportunities arising from the increasing demand from our existing customers as well as from new customers as we ramp up production through the hiring of more people for a second shift and implementing ESG initiatives to make our business more sustainable.”

“Building a sustainable business also requires the support of our shareholders. Thus, we intend to distribute at least 50% of our annual net profit as dividend to shareholders, subject to the approval of the Board of Directors and shareholders.”

Block rubber is driven by the automotive industry with approximately 70% of global natural rubber being used for tyre manufacturing. Going forward, the world vehicle sector is anticipated to grow at a 5-year (2021 to 2025) CAGR of 7.03% to 105.0 million units.

Seng Fong is raising RM68.1 million from the IPO. From the proceeds, RM19.7 million has been allocated for working capital requirements including purchase of raw materials and the hiring of additional workers; RM37.9 million for the repayment of bank borrowings that include the partial funding for the solar system units, RM6.3 million to fund the installation of the biomass system units and RM4.2 million for listing expenses.

The installation of the solar system is estimated to achieve cost-savings of approximately RM2.6 million per annum from electricity costs and a further RM3.5 million per annum from diesel costs through the installation of the biomass system.

For the financial year ended 30 June 2021, the Company’s export market share of block rubber stood at 11.8% based on its export output of 121,404 metric tonnes (“MTS”) against the country’s total export volume for block rubber of 1.03 million MTS in 2021. Seng Fong’s revenue is almost entirely derived from exports, with the primary markets being China, Hong Kong, Singapore, and Taiwan.

The block rubber produced by Seng Fong are sold directly to end-user customers, majority are tyre manufacturers, and are also sold to international rubber traders. Block rubbers which are sourced from international rubber traders and/or natural rubber processors, for trading purposes, are sold to tyre manufacturers.

HLIB is the Principal Adviser, Underwriter and Placement Agent for the IPO.

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

Pictured (from left):

  • Mr. Phang Siew Loong, Head of Equity Markets, Hong Leong Investment Bank Berhad
  • Mr. Shim Choon Lim, Co-head of Corporate Finance, Hong Leong Investment Bank Berhad
  • Ms. Lim See Tow, Independent Non-Executive Director, Seng Fong Holdings Berhad
  • Mr. Jimmy Er Tzer Nam, Non-Independent Executive Director
  • Mr. E Tak Bin, Non-Independent Executive Director, Seng Fong Holdings Berhad
  • GONG –
  • Mr. Er Hock Lai, Managing Director, Seng Fong Holdings Berhad
  • Mr. Ng Ah Bah @ Kok Yee, Independent Non-Executive Chairman, Seng Fong Holdings Berhad
  • Ms. Lee Jim Leng, Group Managing Director/Chief Executive Director, Hong Leong Investment Bank Berhad
  • Ms. Lim May Wan, Independent Non-Executive Director, Seng Fong Holdings Berhad
  • Mr. Chong Yeaw Kiong, Independent Non-Executive Director, Seng Fong Holdings Berhad
    ( https://www.acnnewswire.com/topimg/Low_SengFong2022707.jpg )

How Technology Contributes to Economical Gaps in Southeast Asia

Nearly half of ASEAN based respondents perceived legacy IT infrastructure and systems to be a challenge to digital transformation (DX) and innovation projects within their own company, according to a survey conducted by AIBP in 2021. The survey counted 206 professionals in the public services sector across the largest economies in Southeast Asia: Indonesia, Malaysia, Thailand, Philippines & Vietnam. The same survey showed that 60.6% of respondents believe that business intelligence software is the DX solution that brings the largest benefits to their organisation.

Sustainability has also been a growing focus in ASEAN, illustrated by the sustainable mobility and energy targets of ASEAN. The Phnom Penh Declaration on Sustainable Urban Mobility is the first Declaration on sustainable transport issued by the ASEAN Transport Ministers focusing on urban and metropolitan regional mobility. The ASEAN Plan of Action for Energy Cooperation demonstrates the region’s commitment to achieving the targets on renewable energy share 23% in total primary energy supply, as well as the 35% share in installed power capacity by 2025. The need for education is underlined as well from a 2021 AIBP survey, where the lack of talent and expertise was ranked as the most significant impediment to digital transformation in ASEAN. In advancing these public interests, tech-powered innovation has and will continue to be key.

Tech-powered innovation has continued to be key in advancing public interests such as mobility, sustainable energy and education.

Taiwanese Companies Contributing to ASEAN Societies

Mobility:
With transport mobility being integral to driving economic and social growth, importance is placed on developing innovations in this area and several companies have stepped up to take the lead. PLANET Technology Corporation has solved key issues pervading public transport networks with their Industrial LoRaWAN Wireless Gateway solution. It facilitates data transmission over long-range distances at low power consumption across urban and rural areas, and supports real-time data collection, enabling vehicle detection and location tracking. This contributed to smart parking solutions and allowed commuters to easily check bus timings, improving the overall public transport system.

Up-and-coming alternative mobility solutions are getting increased attention as well. Advancements made in vehicle electrification have contributed to the lowering cost of electric vehicles (EV). Coupled with an increasing focus on sustainability in ASEAN, EV adoption and the development of an EV ecosystem are growing. Zealio is one of the key players in the EV interior space. Guided by a user-centric approach, Zealio sought to develop EV components that are easy to install, have zero-interference with other vehicle electronics, are energy efficient and recyclable.

Sustainable Energy:
Environmental concerns are increasing in ASEAN. Stakeholders in the energy industry are seeking to pivot to a green energy approach and Advantech is at the forefront of this change. Advantech has observed that power plant and grid owners are most concerned about data accuracy, operational efficiency and asset management. To address these needs, the company has developed a smart energy management solution that includes pre-built related analytics. In helping Singapore’s National Water Agency (PUB) with the monitoring and tracking of their Floating Solar PV System, Advantech partnered with Mirai Electronics to build an IoT framework that gathers critical equipment and environmental data that is sent to the cloud, various dashboard views including green parameters to facilitate data analytics and visualisation, and a system that enables proactive monitoring and response to tough environmental conditions.

Need for Skill Development through Tech-Enabled Education:
A 2021 survey conducted by AIBP showed that 39.4% of public services stakeholders believe people are the principal challenge to becoming data driven. As technology continues to play a key role in innovation efforts, workforce skill levels need to keep up and education is integral to nurturing that talent. Enterprises have recognised this need and are providing tech-enhanced solutions to complement traditional educational methods.

In pursuit of closing the gap, one successful project was delivered by CYP’s Pro AV solutions. CYP integrated their AV solutions together with learning tools such as document cameras, interactive white boards and audio visual devices providing a solution for Vietnam National University, Hanoi (VNU)’s remote learning programmes. This has enabled the concept of smart classroom, which aims to deliver high-quality classes during distance learning and video conferencing, and let teachers engage both in-class and remote students.

Another technology provider, IPEVO, has also demonstrated strong commitment to provide real-time image capture document cameras to DIGI@Education, driving student engagement in a hybrid setting. On top of education, IPEVO is able to support corporate trainings, legal and healthcare sectors.

About AIBP

AIBP serves as an avenue for public and private organisations in Southeast Asia to access and exchange information about growth and innovation within the B2B space. With a current network of over 30,000 stakeholders in Southeast Asia, AIBP continues to develop ecosystems by engaging in activities which create value-adding information for our stakeholders seeking to make transformative impacts within their organisations. For additional information about AIBP, please visit https://iotbusiness-platform.com/.

About Taiwan Excellence Awards

Advantech, Cypress, IPEVO, PLANET, and Zealio were recently recognized by the Taiwan Excellence Awards. These awards have been established by the country’s Ministry of Economic Affairs since 1993 to celebrate how technological innovation helps people live more rewarding lives. Each year, the Taiwan Excellence Awards select the most innovative products in Taiwan across four major categories: R&D, design, quality, and marketing. As well as recognizing domestic achievement, the awards serve as a benchmark for innovation and excellence in international markets. Please visit https://www.taiwanexcellence.org/en for more information.

Main Market-Bound Seng Fong Holdings Berhad IPO Shares Oversubscribed by 3.09 Times

Tricor Investor & Issuing House Services Sdn Bhd (TIIH) is pleased to announce that the Initial Public Offering (IPO) of Seng Fong Holdings Berhad is oversubscribed by 3.09 times.

Managing Director of Seng Fong, Mr. Er Hock Lai
Group Managing Director/ Chief Executive Officer of Hong Leong Investment Bank, Ms. Lee Jim Leng

Seng Fong’s IPO involves the issuance of 160,874,300 IPO Shares in the following manner:

(A) Retail offering of 42,198,000 IPO Shares to be allocated in the following manner:
– 25,948,000 IPO Shares to the Malaysian public; and
– 16,250,000 IPO Shares to the eligible directors and employees of Seng Fong and its subsidiaries (Group) and persons who have contributed to the success of the Group;

(B) Institutional offering of 118,676,300 IPO Shares to be allocated in the following manner:
– 64,870,000 IPO Shares by way of private placement to Bumiputera investors approved by the Ministry of International Trade and Industry (“MITI”); and
– 53,806,300 IPO Shares by way of private placement to other institutional and selected investors.

A total of 3,968 applications for 106,046,800 IPO Shares with a value of RM79,535,100 were received from the Malaysian public, which represents an overall oversubscription rate of 3.09 times. For the Bumiputera public portion, a total of 2,097 applications for 31,762,400 IPO Shares were received, which represents an oversubscription rate of 1.45 times. For the remaining Malaysian public portion, a total of 1,871 applications for 74,284,400 IPO Shares were received, which represents an oversubscription rate of 4.73 times.

Meanwhile, the 16,250,000 IPO Shares available to the eligible directors and employees of the Group and persons who have contributed to the success of the Group have also been fully subscribed.

Managing Director of Seng Fong, Mr. Er Hock Lai said, “We would like to thank investors for their response to our IPO as this is an indication of their confidence in the fundamentals of the business. We can now look forward to capture opportunities arising from the increasing demand from existing customers as well as from new customers as we ramp up production through the hiring of more people for a second shift and implementing ESG initiatives to make our business more sustainable.”

Group Managing Director/ Chief Executive Officer of Hong Leong Investment Bank, Ms. Lee Jim Leng said: “We are pleased with the reception from investors to Seng Fong’s IPO reflecting their confidence in the solid fundamentals of the business and in the leadership as well as vision of the founders and promoters.”

Hong Leong Investment Bank Berhad is the Principal Adviser, Underwriter and Placement Agent for the IPO.

The notices of allotment will be posted to all successful applicants on or before 6 July 2022. The company will list on the Main Market of Bursa Malaysia Securities Berhad on 7 July 2022.

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

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/

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/

Genetec Scales New Heights with Highest Annual Profit to Date

Technology leader in providing fully customised, intelligent manufacturing automation solutions, Genetec Technology Berhad announced its best annual performance to date for the financial year ended 31 March 2022 (FY2022). The Company recorded RM58.1 million profit after tax (PAT) up 1,420.5% from a loss of RM4.4 million in the preceding year. Annual revenue stood at an all-time high at RM223.6 million, up by 130.3% versus RM97.1 million for the period, driven by the electric vehicle (EV) and energy storage segments. Correspondingly, earnings per share (EPS) stood at 7.90 sen for the period, up by 1,395.1% from -0.61 sen.

For the fourth quarter year ended 31 March 2022 (Q4FY2022), Genetec’s PAT stood at RM14.0 million, an increase of 333.3% compared to the loss of RM6.0 million in the corresponding quarter for FY2021 (Q4FY2021). Quarter on quarter (QoQ) revenue stood at RM58.7 million, up by 348.1% versus RM13.1 million for the corresponding quarter.

In comparison with the preceding quarter, Genetec’s Q4FY2022 PAT came in lower by 28.6% compared to RM19.6 million posted in the preceding quarter due to the shorter operating period. The Company continued to maintain a high level of discipline in cost management to moderate the effects of the shorter quarter. Revenue for Q4FY2022 stood at RM58.7 million, a decrease of 10.1% compared to RM65.3 million of the preceding quarter.

Genetec also announced the approval to proceed with a property acquisition from Utusan Melayu Malaysia Berhad (UMMB) in Bandar Baru Bangi. The said property comprises a parcel of land of 6.348 hectares or 683,293 square feet (sq ft), and buildings within the said area with a total gross floor area of 301,509 sq ft and will be purchased at RM53 million.

Genetec said, “Through this acquisition, we aim to consolidate most of our design and development, machining centers and machine assembly in Bandar Baru Bangi to increase further capacity to cater for future demand.

On the overall, the Electric vehicle (EV) and energy storage segments remained dominant contributors to Genetec’s overall revenues with expectations for said segments to grow further in the coming quarters. Genetec commented, “Sales of electric cars worldwide hit 6.6 million in 2021, almost doubling from the previous year. For context, in 2012, only 120,000 electric cars were sold. Today, the same number is sold every week[1]. Due to the population growth and increase in affluence, there is a shift to the current technology driven by the global adoption of renewable energy solutions. Most recently, the European Union (“EU”) announced plans to increase efforts in solar and wind power to hasten the region’s shift to green energy. To achieve this, the EU’s proposal is to allocate EUR210bn (RM987 billion) over the next five years to phase out fossil fuels such that 45% of their energy mix should come from renewables by 2030. This is an advance on the current 40% target suggested less than a year ago[2] and reinforces the seriousness of the move towards electric and renewables. It also amplifies the urgency of the need for more focus and resource allocation to these segments.”

On their part, Genetec is also ramping up their team strength. In 2021, the Company increased their staff strength by 100 to support the increased workload and job orders. “Our investments have always been in Malaysia. Likewise, all our staff are local. We believe in hiring and training local talent and this is evident in our staff force. From our founding members, senior leadership, to staff, most of our staff joined us fresh out of university or technical school and have risen within the ranks to manager and senior managerial levels. The staff stability is crucial to ensure continuity and to provide assurance to our clients that we have the right people and experience to consistently deliver quality products and service.”

Genetec concluded, “It has been an eventful, challenging but rewarding year with many new developments and milestones. Genetec has been working hard to ensure we deliver on our orders in a timely manner, especially given the ongoing geopolitical and economic headwinds. We are also working closely with our clients to ensure we remain a key and important partner in supplying their automation solutions. We are also sharpening our focus on managing our supply chain operations, from planning and demand forecasting, sourcing, materials management to logistics. Working closely with our suppliers is critical to mitigate possible supply-chain disruptions or delivery challenges that will affect our ability to deliver our orders in a timely manner.”

“In the meantime, we remain optimistic that our efforts to deepen our client’s share-of-pocket will yield results in the coming quarters. Our pipeline remains robust, backed by the accelerating demand for EVs across major markets worldwide. Moving forward, Genetec remains focused on growing our workforce and deepening their knowledge and skillsets, especially in EV and energy storage. We are also building on our capacity to be able to take on new orders and projects from existing and new customers. We are committed to growing sustainably whilst developing new growth pathways for local talent to contribute to the progress of the local automation technology segment in Malaysia.”

[1] Source: World Economic Forum – More electric cars are now sold every week than in the whole of 2012
[2] Source: EU plans ‘massive’ increase in green energy to help end reliance on Russia

Genetec Technology Berhad: https://genetec.net/