Genetec’s Q2FY2023 Performance Remains on Track ACN Newswire

Genetec’s Q2FY2023 Performance Remains on Track

29 11 月, 2022
BANGI, Malaysia, Nov 29, 2022 - (ACN Newswire via SEAPRWire.com) - Technology leader in providing fully customised, intelligent manufacturing automation solutions, Genetec Technology Berhad announced their quarterly performance to date for their second financial quarter for the financial year ended 31 March 2023 (Q2FY2023). The Company recorded a surge in its profit after tax (PAT) of RM25.7 million representing a 57.7% jump compared to RM16.3 million registered for the corresponding quarter of the preceding year due to higher revenue and managed cost.Genetec registered RM28.0 million in profit before tax (PBT) for the quarter under review, which is 59.1% higher than the PBT of RM17.6 million recorded for Q2FY2022 while revenue of RM70.7 million is 19.2% higher than the RM59.3 million posted in Q2FY2022. Earnings per share stood at 3.59 sen (fully diluted) in the same quarter compared to EPS of 2.33 sen in the corresponding quarter.Genetec highlighted, "On the macro level, 2022 continues to be an exciting year. We have been building on our momentum and diversifying our portfolio in electric vehicle (EV) and energy storage segments. These efforts are yielding results which will come through in the coming quarters. All segments in our portfolio continue to grow with segment contributions remaining consistent with the preceding quarter. Genetec remains focused to build on and deepen our share-of-wallet with existing clients. Efficiency, quality and flexibility continue to be key whilst we actively participate in new bids to expand our client list. With the additional 100,000 square feet (sf) floor space, we are adding capacity to cater to our growing pipeline."Their recent exclusive collaboration with diversified infrastructure and energy conglomerate, Citaglobal Berhad will see Genetec supplying end-to-end battery energy storage management systems (BESS) solutions to designated project sites in different states across Malaysia over a multi-year period. The Company's role covers research and development, design and build and on-site installation and maintenance."Looking ahead, the world's efforts to halve its carbon footprint by 2030 and achieve its net zero carbon target by 2050 will drive energy convergence and investments in renewable energy (RE) technology. New energy storage capacity is expected to be added globally between 2022 and 2030 as companies and countries transition towards clean or RE. Expectations are for RE to provide 65% of the world's total electricity supply by 2030, with a massive 90% decarbonisation of the power sector by 2050[1]. By the end of the decade, United States and China are expected to continue to be the two biggest markets, accounting for more than half of all RE storage installations worldwide[2]. On the EV sector, we will continue to expand our performance and increase our capacity to achieve new heights", highlighted Genetec.About Genetec Technology BerhadGenetec Technology Berhad is a technology leader in providing customised full turnkey smart factory automation manufacturing lines. It is a public company listed on the ACE Market of Bursa Malaysia Securities Berhad (Stock code: 0104) since 2005. Its principal business focus is in the provision of high-quality, responsive and cost-effective designs, as well as the manufacturing of automated industrial systems, equipment and value-added services for our global customers in the Electric Vehicle (EV), Automotive, Hard Disk Drive (HDD), Consumer Goods and Healthcare sectors. For more information on Genetec, please visit www.genetec.net.[1] Source: Energy Outlook 2023, United Nations https://www.un.org/en/climatechange/raising-ambition/renewable-energy[2] Source: Global Energy Storage Market to Grow 15-Fold by 2030. https://tinyurl.com/mw6tzuk6 Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Samaiden Group Signs Partnership Agreement with Taiwan-based Monitoring Solution Provider Thingnario ACN Newswire

Samaiden Group Signs Partnership Agreement with Taiwan-based Monitoring Solution Provider Thingnario

14 10 月, 2022
PETALING JAYA, Malaysia, Oct 14, 2022 - (ACN Newswire via SEAPRWire.com) - Samaiden Group Berhad (Bursa: SAMAIDEN, 0223), a clean energy solution specialist principally involved in engineering, procurement, construction, and commissioning (EPCC) of solar photovoltaic (PV) systems and power, is pleased to announce that the Group's wholly-owned subsidiary, Samaiden Sdn Bhd, has signed a partnership agreement with Thingnario Ltd. today, to explore the opportunity in providing telemetry monitoring system support to the Renewable Energy (RE) as well as the Energy Efficiency (EE) businesses of Samaiden Group within Malaysia.Mr. Fong Yeng Foon，Executive Director of Samaiden Group Berhad; IR Chow Pui Hee, Group Managing Director of Samaiden Group Berhad; Mr. Andy Hong Min Ping, Regional Manager, South Asia, of Thingnario Ltd; Mr. Lin Han Ting, Regional Manager, South Asia, of Thingnario Ltd [L-R]Artificial Intelligence (AI) based system provider, Thingnario, is a company founded in 2016 and headquartered in Taipei, Taiwan. It owns the "Photon" intelligent solar monitoring system that has successfully served 3,500 sites with an aggregate capacity of 1.5GW across 10 countries in 2022.Group Managing Director of Samaiden, Ir. Chow Pui Hee said, "We're looking forward to the collaboration with Thingnario for the excellence it gives to our Operation and Maintenance (O&M) works. As part of the Group's digitalisation plan, we strongly believe the support from Thingnario can facilitate our transformation in this area smoothly. We're very optimistic that we can provide effective and efficient solutions to our customers for performance optimisation and improve their return of investment."Chief Operating Officer of Thingnario, William Kao said, "We are looking forward to working with Samaiden to provide businesses with a technology that can help them manage plant operations and maintenance more efficiently without the hassle. More importantly, we are confident that our software will play a vital role in addressing Samaiden's needs in a world where AI, Internet of Things and machine learning is assisting in every aspect of business and life."In order to align the direction of the Group, Samaiden recently launched the Samaiden Energy Efficiency Solutions named "SEE" Solutions in conjunction with the International Greentech & Eco Products Exhibition & Conference Malaysia (IGEM) event held from 12-14 October 2022 at KLCC Convention Centre as the Group embarks on its Energy Efficiency business. SEE Solutions is a program mainly focusing on energy saving measures to reduce the electricity consumption by the commercial & industrial owners. SEE Solutions consists of two pillars of solutions which are Energy Assessment and Energy Optimisation. The purpose is to assist business owners to identify the major and minor consumption in their premises. By unlocking the awareness on energy consumption, the potential energy savings in premises will also be unlocked via implementation of the SEE Solutions.Samaiden Group Berhad: 0223 [BURSA: SAMAIDEN], https://samaiden.com.my/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Sarawak Consolidated Industries Berhad Appoints Directors ACN Newswire

Sarawak Consolidated Industries Berhad Appoints Directors

15 9 月, 2022
KUCHING, MALAYSIA, Sep 15, 2022 - (ACN Newswire via SEAPRWire.com) - Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) is pleased to announce the redesignation of Mr. Ku Chong Hong as Executive Director and the appointments of En. Mohd. Shakir bin Shahimi and En. Nuraiman Shaiful bin Annuar as Independent Non-Executive Directors (INED), effective today.Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin OthmanMr. Ku Chong HongEn. Mohd. Shakir bin ShahimiEn. Nuraiman Shaiful bin AnnuarMr. Ku, who was appointed to the board of directors on 17 March 2022 as an INED, has experience in audit and assurance, and business advisory-related fields through various local and international companies involved in a range of industries from property and construction to software.En. Mohd. Shakir will replace Ku as chairman and member of the audit committee. A chartered accountant, he graduated with a degree in accountancy from Universiti Utara Malaysia and is a member of the Malaysian Institute of Accountants. He was an auditor with Arthur Andersen & Co and has experience auditing public-listed and privately-held companies. He is currently an audit manager with Khairuddin Hasyudeen & Razi. He is also an INED with Bintai Kinden Corporation Berhad, where he is chairman of the nomination, remuneration and risk management committees as well as member of the audit committee.En. Nuraiman has attended the International Bachelor of Business Administration Programme from Hult International Business School, London United Kingdom in year 2017. He has experience in the oil and gas as well as construction fields. He holds directorships in Hipro Technologies Ltd and Petro Flanges and Fittings Sdn Bhd.Group Managing Director and Chief Executive Officer of SCIB, Encik Rosland bin Othman, said, "We welcome En. Mohd Shakir and En. Nuraiman aboard and look forward to their guidance and advice. Their experience and knowledge will be a good addition to the board while enhancing our governance decision-making structure. We would also like to congratulate Mr. Ku in his redesignation as Executive Director. His insights and knowledge will be invaluable in helping us grow the Company."About Sarawak Consolidated Industries BerhadSarawak Consolidated Industries Berhad (SCIB) was founded in 1975 and has evolved from a small enterprise into a reputable Group of companies listed on the Main Market of Bursa Malaysia Securities Berhad. Currently, SCIB is operating three factories in Kuching, Sarawak, one factory in the Pending Industrial Estate and two factories in the Demak Laut industrial park.SCIB is well known for professional management and has long history of innovative ideas and technological advances. Coupled with its wealth of experience and research acquired in more than three decades, SCIB offers its clients in-depth expertise through a combination of technology, efficiency and speed. For more information, visit scib.com.my.Sarawak Consolidated Industries Bhd: 9237 [BURSA: SCIB], http://scib.com.my Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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UCrest Partners with Malaysian Genomics to Digitalize Genome Services Worldwide ACN Newswire

UCrest Partners with Malaysian Genomics to Digitalize Genome Services Worldwide

20 7 月, 2022
PETALING JAYA, Malaysia, Jul 20, 2022 - (ACN Newswire via SEAPRWire.com) - UCrest Berhad (ACE Market: 0005) and Malaysian Genomics Resources Centre Berhad, (ACE Market: 0155) announced today that they have signed a collaborative agreement to integrate genomic testing services into digital health platform, iMedic(TM), elevating healthcare services to the next level.Dato' Dr. Mohd Fikri bin Abdullah, Independent Director of UCrest Berhad; Mr. Eg Kah Yee, Chairman and Managing Director of UCrest Berhad; En. Sasha Nordin, Chief Executive Director, Malaysian Genomics Resource Centre Berhad; Dr. Eunice Pui Wan Wen, Head of Medical Affairs, Malaysian Genomics Resource Centre Berhad[L-R]Dato' Dr. Mohd Fikri bin Abdullah, Independent Director of UCrest Berhad; Mr. Eg Kah Yee, Chairman and Managing Director of UCrest Berhad; En. Sasha Nordin, Chief Executive Director, Malaysian Genomics Resource Centre Berhad; Dr. Eunice Pui Wan Wen, Head of Medical Affairs, Malaysian Genomics Resource Centre Berhad[L-R]Under this agreement, a virtual genome service centre will be developed on iMedic platform enabling the genomic testing services of MGRC to be made available to the hospitals and clinics (B2B), widening its market access not just in Malaysia, but globally. Additionally, the genomic testing services will also be made available to patients directly (B2C). Patients' genomic data from their test results will be integrated into Electronic Medical Records (EMR) making it accessible by doctors and patients in the process of consultation and management, resulting in improved accuracy in diagnosis and treatment.UCrest is the leading technology provider of digital health platform with offices in Malaysia, Singapore, China and Taiwan providing access to thousands of doctors, including many from the leading hospitals in the United States and China, to provide online consultation and management of patients anywhere in the globe.Malaysian Genomics is a leading genomics and biopharmaceutical company in ASEAN for genome sequencing, bioinformatics analysis, and genetic screening, and various types of immunotherapy including CAR T-Cell therapy for the treatment of certain cancers.The global genomics market size was valued at US$20.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.35% from 2021 to 2028. The Asia Pacific genome sequencing market will grow by 15.6% annually over 2022-2030 due to growing government funding initiatives in genomics projects related to cancer treatment and the utilization of genomics in personalized medicine targeting chronic disease prevention and management.Mr. Sasha Nordin, Chief Executive Officer of Malaysian Genomics, said, "We are looking forward to working with UCrest as its iMedic platform will provide us an opportunity to reach out to markets beyond Malaysia. The platform will also enable us to strengthen our B2B and B2C channels. This collaboration can play an important role in providing physicians with easy access to the latest in genetic screening, in support of enhancing their medical practice and improving patient outcomes.""This partnership with Malaysian Genomics allows us to enhance our vision of integrating preventive and precision medicine into iMedic where genome data will empower the patients to better prevent and manage the chronic diseases with the online consultation of doctors," said Mr. Eg Kah Yee, Chief Executive Officer of UCrest. "Cancer, Cardiovascular Diseases (CVD), diabetic, asthma, sleep apnea and many other chronic diseases can be prevented, managed or treated more effectively with the addition of the genome services," he added.Malaysian Genomics Resource Centre Berhad: 0155 [BURSA: MGRC] [RIC: MGRC:KL] [BBG: MGRC:MK], http://www.mgrc.com.my/UCrest Berhad: 0005 [BURSA: UC] https://www.ucrest.net/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Seng Fong Holdings Berhad Debuts on Main Market of Bursa Malaysia ACN Newswire

Seng Fong Holdings Berhad Debuts on Main Market of Bursa Malaysia

7 7 月, 2022
KUALA LUMPUR, Jul 7, 2022 - (ACN Newswire via SEAPRWire.com) - 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 ) Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Leon Fuat Berhad Shareholders Vote to Pass All Resolutions at AGM SeaPRwire

Leon Fuat Berhad Shareholders Vote to Pass All Resolutions at AGM

30 6 月, 2022
Shareholders also approved a final single-tier dividend of 2.0 sen per share for FY2021 SHAH ALAM, Malaysia, June 28, 2022 – (ACN Newswire) – Leon Fuat Berhad, a manufacturer and trader of steel products, specialising in rolled long and flat steel products, is pleased to announce that shareholders have passed all resolutions at the Group’s 15th AGM held today. Mr. Calvin Ooi Shang How, Executive Director of Leon Fuat Shareholders passed a resolution approving a final single tier dividend of 2.0 sen per share for the financial year ended 31 December 2021 (FY2021). Shareholders also voted to re-elect Dato’ Sri Ooi Bin Keong, Mr. Tan Did Heng, Mr. Tan Sack Sen and Dato Lim Cheng Poh as directors as well as to retain Mr. Chan Kee Loin as an independent director. Also retained as independent directors were Did Heng and Sack Sen. Among the other resolutions up for voting, shareholders reappointed Baker Tilly Monteiro Heng PLT as the Group’s auditors and authorised the directors to fix the remuneration of the auditors. Mr. Calvin Ooi Shang How, Executive Director of Leon Fuat said, “We are happy to meet our shareholders again in a physical setting for the 15th AGM after having held the previous AGM virtually. We would like to thank shareholders for their trust and confidence in us as we navigated a challenging FY2021. Our financial performance for the first quarter ended 31 March 2022 was satisfactory despite the decrease in overall gross profit margin.” “We are cautiously optimistic of achieving profitable results for the remaining quarters of FY2022 but would like to point out that the outlook has dimmed considerably with the World Bank having cut global economic growth outlook to 2.9% for this year from the 4.1% growth outlook it had forecast in January 2022. To mitigate risks, the Group will continue to monitor steel prices closely as well as related foreign currencies. We will also take proactive measures such as anticipating price and currency volatility through negotiating forward contracts as well as prudent inventory management.” Leon Fuat Berhad: [BURSA: LEFU] , https://www.leonfuat.com.my/
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