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Investment & Market Trends, News

HeiTech Padu Berhad Targets Stronger Earnings Growth after Returning to Profitability for FY2023

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SUBANG JAYA: HeiTech Padu Berhad (HeiTech or the Group) has returned to profitability in the financial year ending December 31, 2023 (FY2023), reporting a profit of RM7.2 million to Bursa Malaysia compared to losses of RM10 million in 2022. This turnaround of RM17.2 million is attributed to improved profit margins resulting from effective cost management and successful acquisition of new contracts in both public and private sectors amidst heightened competition and economic uncertainty. Contracts secured include those from key ministries and agencies such as the Ministry of Education, Ministry of Domestic Trade and Cost of Living, Ministry of Health, Inland Revenue Board of Malaysia, and an extended contract with the Immigration Department of Malaysia.   Salmi Nadia Mohd Hilmey, Group Managing Director and Group Chief Executive Officer, emphasized HeiTech’s commitment to delivering value-added solutions and services to customers, driving stronger earnings growth. Over the past 30 years, HeiTech’s track record in developing and managing technological solutions for public and private sector clients has fueled its growth. The company’s success in securing high-profile government contracts is attributed to its consistent delivery and merit-based approach. Established as a leading player in Malaysia’s IT industry, HeiTech has driven technological transformation for governmental, financial, and commercial organizations through strategic collaborations and partnerships. It has evolved from a system integrator and managed infrastructure provider to offering digital and emerging products like smart parking systems, e-KYC, payment gateways, and smart applications for local councils, cooperatives, schools, and teaching portals. HeiTech’s regional expansion initiatives include ventures into Indonesia, where it launched financial systems for cooperatives, a school administration system, and a mobile app for teachers and students through PT DesaTech Nusantara, an investee company. Looking ahead, HeiTech aims to become a comprehensive Digital Technology Service Provider by leveraging emerging technologies, broadening operational capabilities, expanding its customer base, diversifying its business, and enhancing its financial position.

Energy & Technology, News

Jiankun International Unveils Green Energy in Taman Panchor Jaya

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KUALA LUMPUR: Jiankun International Bhd (JIB) has inked a memorandum of understanding (MoU) with Micro Energy Holdings (M) Sdn Bhd (MEH) to advance an eco-conscious future further. This partnership illustrates the potential of sustainable development in the real estate industry and underlines a commitment to innovation and responsible development by installing solar photovoltaic (PV) systems in JIB’s Taman Panchor Jaya @ Nibong Tebal, Penang. JIB Executive Director and Chief Executive Officer Edwin Silvester Das said this initiative with MEH is more than an advancement in the company’s project portfolio. “It is a leap towards a greener Malaysia. By integrating sustainable solutions like solar energy into our luxury housing development, we aim to create not just homes but a legacy of environmentally responsible living,” he said in a statement. According to Edwin, the Taman Panchor Jaya @ Nibong Tebal will set a benchmark for environmentally conscious developments without compromising elegance and comfort. This initiative, expected to be completed in July 2026, will feature 116 double-storey units equipped with a minimum of 2.2KW solar systems, underscoring JIB’s investment in green technology and its environmental and community benefits. “The partnership between JIB and MEH for the Taman Panchor Jaya @ Nibong Tebal project reflects our foresight in melding luxury with eco-efficiency. “We are steering the Malaysian property market towards a horizon where luxury and sustainability coexist,” Edwin said. JIB announced in December 2023 that it had acquired a 99.99% stake in Oriental Link Properties (M) Sdn Bhd (OLP). The acquisition enlarged JIB’s footprint and enriched its portfolio with OLP’s high-value projects. The Taman Panchor Jaya @ Nibong Tebal Penang represents a gross development value (GDV) of RM72.69 million and will be a gated community, indicating substantial returns rooted in strategic location and advanced planning. The development, nestled on a verdant 7.58-acre land, is projected to attract buyers keen on green energy and sustainable living. MEH Chairman Tan Sri Abdul Aziz Jaafar said the company’s collaboration with JIB on the Taman Panchor Jaya project epitomises the fusion of modern technology and environmental stewardship. “By harnessing solar power, we contribute to a sustainable future and set a precedent for integrating green energy solutions in real estate development. “This partnership is a testament to our commitment to innovation and dedication to promoting sustainable living across Malaysia,” he said. JIB Executive Director Datuk Ir Donald Lim said this green initiative aligns with Malaysia’s aspirations for sustainable urban development and supports the nation’s agenda to reduce its carbon footprint for the country. “The project promises to lower energy costs for residents, increase the value of their properties, and contribute to the overall welfare by fostering a healthier environment,” he said.

Investment & Market Trends

MKH Oil Palm IPO Sparks Surge of Interest, Oversubscribed 8.4 Times

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KUALA LUMPUR: Oil palm plantation player MKH Oil Palm (East Kalimantan) Bhd (MOPB) has garnered strong investor interest in its upcoming initial public offering (IPO). Shares has been oversubscribed by 8.4 times ahead of its listing on the main market of Bursa Malaysia. MOPB’s IPO received 9,510 applications for 482.9 million shares, worth around RM299.4 million. The Malaysian public oversubscribed by 8.4 times, while Bumiputera category sees a 7.6 times oversubscription, and other Malaysian public category reaches 9.3 times. The private placement of 168.8 million shares for selected investors have also been fully placed out. MOPB non-independent non-executive chairman Tan Sri Datuk Chen Kooi Chiew expressed gratitude for the favourable response to the company’s balloting results. “We value the public’s support for the company’s capabilities and future potential. “With the IPO funds, we are well-equipped to pursue our expansion strategy, which includes acquiring new land in the vicinity of our existing plantation estates to expand our plantation landbank,” he said in a statement. MOPB’s IPO exercise comprises a public issue of 220.0 million shares at an issue price of RM0.62 per share, representing 21.5 per cent of its enlarged share capital, with IPO proceeds of RM136.4 million. Additionally, there is also an offer for sale of 30.7 million existing shares or 3.0 per cent of the enlarged shares by way of private placement to selected investors. “Our efforts will be directed towards enhancing our operational efficiency and increasing our processing capabilities and product offerings, supported by investments in new machinery and equipment. “A key initiative includes the new palm kernel (PK) crushing facility to crush and press PK for extraction and processing into crude palm kernel oil and palm kernel expeller, thereby diversifying our revenue streams,” Chen said. MOPB will debut on the main market of Bursa Malaysia on April 30, 2024. Upon listing, the company’s market capitalisation will be RM634.6 million, based on the issue price of RM0.62 per ahare and its enlarged share capital of 1.02 billion shares. M&A Securities Sdn Bhd is the adviser, managing underwriter, joint underwriter and joint placement agent of the IPO exercise, while Kenanga Investment Bank Bhd is the joint underwriter and joint placement agent, and AmInvestment Bank Bhd is the joint placement agent.

Events

KL Wellness City Hosts Vibrant Raya Open House with Orphanage Homes

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KUALA LUMPUR: KL Wellness City (KLWC), the leading developer of a wellness and healthcare-focused master township in Southeast Asia, hosted its Raya Open House on April 18, 2024, following a significant Raya Campaign launch event on March 14, 2024. The vibrant Open House was filled with joyful celebrations and meaningful connections. The Raya Open House festivities began with a “Pantun” recitation by Dato’ Sri Vincent Tiew, Executive Director (Branding, Sales & Marketing) of KLWC, conveying well wishes for the upcoming year and welcoming guests to the Raya Aidilfitri celebration at KLWC. Attendees enjoyed a variety of activities and entertainment, including live performances by the talented 3pcs Busker Band, creating an engaging atmosphere. Traditional local delicacies were served at live food stations and in an all-day buffet, offering guests a delightful culinary journey through Malaysian flavors. KL Wellness City was honored to host Tourism Malaysia’s representative, En. Mohd Roslan Bin Abdullah, and esteemed guests like Dr. Mohamed Ali Abu Bakar, CEO of the Malaysian Healthcare Travel Council, emphasizing the significance of healthcare and wellness in the community. This aligns with KLWC’s mission to promote Malaysia as a premier tourist destination with excellent healthcare and wellness services. Dato’ Sri Vincent Tiew expressed gratitude for Dr. Mohamed Ali Abu Bakar’s support, highlighting the commitment to promoting medical tourism and enhancing healthcare services for local residents and international visitors. To enhance the festive ambiance, attendees could capture cherished moments against an exclusive backdrop adorned with traditional Malay decor, known as “Rumah Panggung,” creating lasting memories. In the spirit of generosity and aligned with the “Kembali Ke Nostalgia” campaign, KL Wellness City distributed “duit raya” to over 100 children from five homes, including Shelter Home For Children, Lighthouse Children Welfare Home Association, KL & Selangor, Pusat Jagaan Penyayang Nur Iman KL, Ti-Ratana Welfare Society, and Yayasan Sunbeams Home. Each orphanage received RM2,000 in contributions, totaling RM10,000, reflecting KL Wellness City’s commitment to making a positive impact on those in need. “We’re truly delighted to welcome all our guests to our Raya Open House celebration,” expressed Dato’ Sri Dr. Vincent Tiew. “This gathering symbolizes a beautiful convergence of our cultural heritage and community spirit, forging meaningful connections and lasting memories together. We’re excited to share the joy of the festive season with everyone who joins us.” Additionally, guests can participate in the Duit Raya Lucky Draw until April 30, 2024, for a chance to win cash rebate vouchers and special free gifts by engaging with KL Wellness City on social media platforms.

ESG

Yayasan Tengku Abdullah Joins Hands with FOMEMA to Gift RM300K to Aid Vulnerable Communities During Ramadan

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KUALA LUMPUR: – FOMEMA Sdn Bhd, through its charity arm, Yayasan Tengku Abdullah (YTA), continues to support vulnerable members of the community, particularly those in the B40 category, with a series of charitable activities during the holy month of Ramadan. This annual ‘giving back’ initiative reflects YTA’s ongoing commitment to fostering inclusivity and solidarity among vulnerable communities with the active participation of volunteers from  FOMEMA employees, irrespective of their religious backgrounds. “As the charity arm for FOMEMA, we understand our role in identifying and supporting the local communities, especially during the festive season. “To this end, we have allocated RM300,000 towards impactful activities during the month of Ramadan for those who need it the most”, YTA chairman Tengku Shaheera Tengku Tan Sri Abdullah said in a statement. Building on this commitment, two major Iftar events were organised recently with residents of Kampung Sungai Kepong in Lanchang, Pahang, while in Kuala Lumpur, the event was attended by representatives and residents of four charity homes alongside 51 students from the Faculty of Medicine and Health Sciences, Universiti Putra Malaysia, attended the event and received aid in the form of textbooks and medical tools required for their respective courses. Both events welcomed a total of approximately 1000 members of vulnerable communities, including students, single mothers, orphans, and the elderly from underprivileged backgrounds. To further spread festive joy, duit raya and contributions amounting to approximately RM70,000 were distributed to the recipients to help alleviate their financial burden ahead of the Aidilfitri celebrations by both Tengku Shaheera and FOMEMA executive chairman Tengku Datuk Seri Abu Bakar Ahmad Tengku Tan Sri Abdullah. Additionally, throughout the month of Ramadan, donations of 650 packets of dates were distributed to charity homes and donations of necessities and Hari Raya essentials to recipients from low-income families in Klang Valley, all in the spirit of spreading happiness and the blessings of Ramadan. “These initiatives are part of continuous efforts by YTA to spread joy and much-needed support to vulnerable communities, aligning with FOMEMA’s corporate social responsibility (CSR) focus on giving back to communities and ensuring public well-being while creating meaningful bonds leading up to the festive periods”, FOMEMA chief executive officer Dr Mohd Afiq Farhan Md Hanif said.

Energy & Technology, News

MITI Maintains Target of 10k Charging Stations by 2025 Despite Setbacks

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KUALA LUMPUR: A total 2,214 electric vehicle (EV) charging stations were installed as of 20 March 2024 as the Ministry of Investment, Trade and Industry (MITI) maintains its commitment to developing the EV charging infrastructure and reaching its target of 10,000 charging points by 2025. Under the Low Carbon Mobility Blueprint (LCMB) 2021-2023, 9,000 units of those charging points will be altering current (AC) chargers and 1,000 units will be direct current (DC) fast chargers. “Out of the 2,214 EV charging stations already installed, 1,741 AC chargers and 473 are DC fast chargers,” Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said during a press conference after announcing the ministry’s first-quarter 2024 report card. On the Electric Motorcycle Use Promotion Scheme (MARiiCas) programme, Tengku Zafrul said 1,995 applications were approved with rebates valued at RM4.8 million as of 31 March 2024. Earlier in January, he said that the government may not be able to meet the target of installing 10,000 charging stations around the country by next year. Having that in mind, Tengku Zafrul said that he and his Cabinet colleagues would re-examine if the target is feasible. “It seems that the target is quite aggressive because there are many issues that we need to address. “It involves agencies such as the Energy Commission, local authorities and other parties,” he said, adding that the procedures to install the charging stations needed to be streamlined as there had been complaints from equipment suppliers. “One of the main complaints was that it took a long time to get approval to set up a charging station. We need to make it seamless,” he commented. — BERNAMA

Singapore
Energy & Technology, News

Funds raised by Singapore’s tech startups up 59% in 2023

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SINGAPORE: Singapore’s early-stage technology start-ups secured $402 million (S$548 million) in funding in 2023, a 59 percent increase from the $253 million raised in 2022, according to SGInnovate, the national investment arm. The number of seed-stage deals also rose by 50 percent, from 20 in 2022 to 30 in 2023, across four key sectors: advanced manufacturing, agrifood and sustainability, and health and biomedical sciences. SGInnovate noted these figures in its report on the sector’s development in 2023, highlighting a growing interest in emerging tech investments as Singapore’s ecosystem matures. SGInnovate examined early-stage start-ups established between January 1, 2019, and December 31, 2023, defining emerging technology start-ups as those developing tangible products like devices, machinery, food, and pharmaceuticals based on physical sciences, life sciences, and engineering. Tong Hsien-Hui, SGInnovate’s executive director, remarked that these trends reflect Singapore’s evolving and dynamic emerging tech landscape, with specialized investors increasingly supporting specific industry verticals. Agrifood and sustainability emerged as leading sectors in funding and start-up incorporations, likely driven by public and private initiatives. Both sectors saw growth in funding events year-on-year, with the agrifood sector securing 13 deals in 2023 (compared to eight in 2022) and the sustainability sector closing 16 deals in 2023 (versus 12 in 2022). Despite overall increases in funding and deals, the number of start-ups incorporated in 2023 across the four sectors declined from 35 in 2022 to 25 in 2023. SGInnovate attributed this to ongoing macroeconomic uncertainties, potentially leading to deferred incorporations. Looking forward, SGInnovate anticipates increased private market investments in emerging technologies in 2024, especially with predicted rate cuts, and remains optimistic about start-ups addressing long-term challenges, supported by Singapore’s policy initiatives.

Investment & Market Trends

DXN Records Stellar Revenue Growth of RM1.8 Mil, All-Time High Net Profit of RM311 Mil

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KUALA LUMPUR: Leading global manufacturer of nutraceutical products DXN Holdings Bhd. achieved record-breaking growth across key metrics in its fourth quarter (Q4 FY24) and full-year financial results for the year ended 29 February 2024 (FY24). DXN’s revenue surged by 12.6% year-on-year (YoY) to RM1.8 billion, exceeding the RM1.6 billion recorded in FY23. This growth is primarily driven by increased revenue contributions from Latin America and India, underpinned by a collective combination of member-driven conventions and events, the launching of new products and targeted marketing programs. Mirroring the strong topline growth, the company displayed solid improvement in profitability. Its earnings before interest, tax, depreciation & amortisation (EBITDA) came in at RM537.1 million, representing an 8.2% YoY increase from RM496.4 million recorded in FY23. Profit before taxation (PBT) also rose by 5.2% YoY to RM479.0 million from RM455.5 million registered in the previous financial year, while its net profit stood at RM311 million, beating last year’s RM275.4 million and setting an all-time high with a remarkable 12.9% YoY increase. Executive Chairman and Founder of DXN Datuk Lim Siow Jin shared, “We are thrilled to have achieved record-breaking financial results this year, demonstrating our resilient business model and effective growth strategy. “During the year, we have invested RM119.2 million in capital expenditure to support our expansion initiatives. This encompasses the construction of new manufacturing facilities, acquisition of plants and machinery, and strategic land purchases across China, India, Dubai and Peru.” According to Lim, the investments align with DXN’s objective to significantly boost its manufacturing capacity, supporting rapid market growth and driving expansion into new, promising markets. “Our recent entry into Brazil presents a significant new market opportunity within Latin America. With Brazil’s vast population exceeding 200 million, the growth potential is immense. “We are well-poised to capitalise on this opportunity by leveraging our established member network and strong brand presence in neighbouring Latin American countries, such as Mexico, Peru, Bolivia, and Colombia,” he added. Moving forward, Lim said that DXN will continue to sustain its market momentum through continued product innovation via research and development initiatives and by optimising production efficiency for long-term success. On a quarterly basis, the company’s revenue saw a commendable 16.2% increase to RM470.6 million in 4Q FY24, compared to RM405 million in the prior-year corresponding quarter Q4 FY23. EBITDA improved by 6.7% to RM132.6 million from RM124.3 million previously, while net profit rose by a remarkable 43.2% YoY to reach RM79 million from RM55.2 million achieved in Q4 FY23. Consistent with its dividend policy, the Board of Directors has announced a fourth interim dividend of 1 sen per ordinary share for FY24. This dividend amounts to RM49.7 million and will be paid on 30 May 2024. As of 29 February 2024, the total dividend announced for FY24 amounts to 3.6 sen per ordinary share, equivalent to RM179.3 million. This represents a 57.7% payout of DXN’s FY24 net profit, showcasing its commitment and capability to distribute dividends per its dividend policy of at least 50% of the net profit payout.

Energy & Technology, Investment & Market Trends, News

PGB Intensify Efforts Towards Green Initiatives Amid Strong Financial Performance

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KUALA LUMPUR: Petronas Gas Bhd (PGB) is committed to creating secure high-impact projects by leveraging on its core competencies and exploring industry-adjacent opportunities. This was revealed during the group’s 41st annual general meeting (AGM), where PGB reiterated its efforts of integrating sustainability into all decision-making processes, prioritising economic growth and sustainable development equally at all levels. “PGB’s efforts in upholding strength, resilience and sustainability are anchored in its strategic agenda of pursuing growth while maintaining commercial project and operational excellence,” the group said in a statement released in conjunction with the meeting. During the virtual session of the AGM, PGB Managing Director and Chief Executive Officer Abdul Aziz Othman highlighted the group’s strong 2023 financial performance with profit earnings increasing by 8.1% to RM1.9 billion compared to the previous year. The positive results were attributed to continued operational excellence and robust margins from the utilities segment as well as higher contribution from joint venture companies. “Backed by improved performance, the group declared a total dividend of 72 sen per share,” he said. For PGB’s full financial year ended 31 December 2023 (FY23), the group reported a total revenue of RM6.45 billion, an increase of 4.6% from RM6.16 billion posted in FY22, which was mainly contributed by the increased revenue from the utilities segment on the back of higher product prices in tandem with elevated fuel gas price and higher electricity tariff. By maintaining its successful performance and reliability across all its plants and facilities, the group was able to ensure steady earnings from long-term contracts under gas processing, gas transportation, regasification and utilities segments amidst challenging market conditions on the back of long-term agreements. For the fourth quarter ended 31 December 2023 (Q4 FY23), the group’s revenue declined by 3.1% to RM1.58 billion compared to RM1.63 billion posted in Q4 FY22 due to lower revenue from utilities and regasification segments. The lower utilities revenue was mainly due to lower product prices and customers’ offtake, while regasification revenue was lower. “Despite the challenging business environment, PGB still managed to record a strong financial performance in FY23. As we move forward, we continue to explore opportunities for growth within the National Energy Transition Roadmap (NETR),” Abdul Aziz said. He added that the group also initiated efforts to pursue a greener portfolio to support its target to achieve Net Zero Carbon Emissions by 2025.

News, Property

Sunway Velocity 3 Preview: RM 1.28 Billion Integrated City

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KUALA LUMPUR: The Master Community Developer, Sunway Property, has launched its sales gallery for its latest Signature Home, Sunway Velocity 3, and will begin showcasing the initial phase of development on May 4. Following the success of Sunway Velocity and Sunway Velocity TWO, where all residential units were sold out, and both commercial units are fully occupied, Sunway Velocity 3 is situated in Kuala Lumpur. Phase 1 of the project spans 3.43 acres, housing two blocks of serviced residences with an estimated gross development value of RM 1.28 billion. This development will be interconnected with Sunway Velocity Mall. Chong Sau Min, CEO of Sunway Property Central and Northern Region, highlighted that Sunway Velocity 3 is designed to cater to various demographics in Kuala Lumpur, including working adults, young professionals, commuters, small families, first-time homebuyers, and investors. Connected to Sunway Velocity and Sunway Velocity TWO via a link bridge, Sunway Velocity 3 offers seamless access to lifestyle amenities such as Sunway Velocity Mall, Sunway Medical Centre Velocity, Sunway College @ Velocity, and more. It is directly linked to MRT & LRT stations and strategically located near major highways. With its proximity to the TRX Financial Hub and unique built-in features like smart door locks and sub-meters for energy monitoring, Sunway Velocity 3 is seen as a lucrative investment opportunity. The development incorporates Sunway Property’s sustainable design philosophy (SDDA), ensuring features that promote sustainability, innovation, health, wellness, and community experience. Sunway Velocity 3 offers units with 2 to 3+1 bedrooms ranging from 721 sq. ft. to 1,076 sq. ft., designed to maximize natural lighting and ventilation. It also features express ramps for easy access to multi-level car parks and 24-hour security. Buyers can take advantage of the Signature Series 2024 campaign until June 30, 2024, featuring attractive deals and experiences for homebuyers.

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