18 6 月, 2021

Leon Fuat Berhad Shareholders Pass Resolution to Acquire Factory for Rm28.0 Million

SHAH ALAM, Malaysia, Jun 18, 2021 - (ACN Newswire via SEAPRWire.com) - Leon Fuat Berhad ("Leon Fuat"), a manufacturer and trader of steel products, specialising in rolled long and flat products, is pleased to announce today that all the resolutions of the Group's 14th AGM and EGM for the financial year ended 31 December 2021 has been passed by shareholders at a virtual meeting.Leon Fuat Executive Director, Mr. Calvin OoiShareholders passed a resolution for Supreme Steelmakers Sdn Bhd, a wholly-owned subsidiary of the Group, to acquire a factory, warehouse and office on a parcel of freehold land in Kajang, Selangor for RM28.0 million from Leon Fuat Holdings Sdn Bhd, a privately-held company in which several directors and major shareholders have interests in.Other resolutions passed included the re-elections of Mr. Ng Kok Teong and Mr. Ooi Shang How, who were both due for retirement, as executive directors of the Group's board of directors. Shareholders also re-elected as well as retained Mr. Chan Kee Loin as an independent director while Dato Ng Ah Hock @ Ng Soon Por, Mr. Tan Did Heng and Mr. Tan Sack Sen were also retained as independent directors of the board.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.Executive Director of Leon Fuat, Mr. Calvin Ooi said, "We are pleased that the 14th AGM and EGM went smoothly on the virtual platform. Shareholders were delighted with our performance for 2020 despite the challenges posed to the operating environment. We believe that the Group can sustain the business based on the satisfactory performance of the first quarter ended 31 March 2021.""However, we continue to be cautious given that COVID-19 infection rates remain high and cannot rule out a possible slowdown in activities from the industries that may lead to a drop in demand for steel products. We continue to take proactive measures such as negotiating forward contracts, prudent inventory management and cost-management to mitigate any negative impact while monitoring steel prices and related foreign currencies."Please contact below for more information:Hakim JuraimiTel: +60 12-318 5410Email: h.juraimi@swanconsultancy.biz Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

8 4 月, 2021

MMC Corporation Berhad Chooses Ramco Systems to Digitally Transform Five Ports in Malaysia’s Single Largest Port Transformation Programme

KUALA LUMPUR, Apr 8, 2021 - (ACN Newswire via SEAPRWire.com) - Leading Malaysian utility and infrastructure conglomerate MMC Corporation Berhad (MMC) announced that it has embarked on a major digital transformation of five ports, in partnership with global software solutions leader, Ramco Systems.Photo caption clockwise from top left: Dato' Sri Che Khalib Mohamad Noh, Group Managing Director of MMC Corporation Berhad, Mr. P.R Venketrama Raja, Chairman of Ramco Systems Limited and Mr. Virender Aggarwal, Chief Executive Officer of Ramco Systems Limited during the virtual signing ceremony of Memorandum of Agreement on the Enterprise Resource Planning digital transformation.The digital transformation will consolidate and standardise processes of MMC's ports, which include Pelabuhan Tanjung Pelepas Sdn Bhd (PTP), Johor Port Berhad, Northport (Malaysia) Bhd, Penang Port Sdn Bhd and Tanjung Bruas Port Sdn Bhd. The group-wide transformation was awarded based on the successful implementation of Ramco integrated Enterprise Resource Planning (ERP) system at one of Malaysia's most advanced container terminal - PTP.This technological transformation programme will propel Malaysia to the forefront of global best-in-class ports - which plays a crucial role in mitigating supply chain challenges, including recent disruptions due to COVID-19.Building on an earlier implementation by Ramco Systems of an ERP system for PTP where about 90% of the system has achieved Go-Live in phases over the past 10 months, the enhanced rollout will digitalise processes, while providing real-time business information. MMC will also be able to consolidate various business support functions (namely Finance, Human Resource, Enterprise Asset Management, Supply Chain Management, and Logistics Management) across ports into a single integrated ERP system - all accessible on an integrated dashboard.Over 8,000 MMC employees across the ports will be plugged into the platform on their computers/mobile devices which now eliminates duplication errors and other bottlenecks, allowing efficient business processes and enhanced data visibility.The system will also include smart features such as Artificial Intelligence and Machine Learning (AI/ML), which will provide employees with greater insight as well as predictive alerts and chatbots which can reduce human error and save time. This will lay the foundation for MMC's broader strategy to enhance business experience to our customers and suppliers."The COVID-19 pandemic has pushed several trends into the spotlight, such as e-commerce and strengthening the supply chain. More than ever, we see the importance of ensuring our ports remain efficient and capable of quick turnaround, and we had been looking for a partner which could provide a scalable solution for all our ports.With the support from Ramco Systems, MMC is committed to accelerate digital transformation that delivers efficiency, productivity and reliability within our ports to provide the best-in-class service for our customers. The implementation of a common system and integrated technology platform will further maximise synergies and allow all our ports to share expertise and benefit from economies of scale. We aim to leverage on technology as a key differentiator in order to gain competitive edge and add value to our stakeholders," said Dato' Sri Che Khalib Mohamad Noh, Group Managing Director MMC Corporation Berhad.P.R. Venketrama Raja, Chairman, Ramco Group, said, "It is a great honour to work alongside the MMC Group to help upgrade its ports. The partnership is a significant milestone in Ramco's history; the implementation of Ramco's systems will optimise operational efficiency at MMC Group, thereby translating into faster turnarounds at Malaysian ports and impacting Malaysian trade.""We at Ramco have established a strong Malaysian presence through our many years of engagements with multiple large conglomerates within the country, and this engagement was only possible through the hard work of the Ramco team in providing digital transformation to PTP. We look forward to working closely with the MMC team and am confident Ramco's software will bring great value to MMC's ports," added Raja.About MMC Corporation BerhadMMC Corporation Berhad ("MMC") is a leading utilities and infrastructure group with diversified businesses under four divisions, namely Ports and Logistics, Energy and Utilities, Engineering, and Industrial Development.Its key businesses under the Ports and Logistics division includes the port operations of Pelabuhan Tanjung Pelepas Sdn Bhd, Johor Port Berhad, Northport (Malaysia) Bhd, Penang Port Sdn Bhd, Tanjung Bruas Port Sdn Bhd and Kontena Nasional Berhad, a logistics provider. Internationally, MMC has presence in Saudi Arabia via Red Sea Gateway Terminal Company Limited, a container port terminal within the Jeddah Islamic Port.Under the Energy and Utilities division, Malakoff Corporation Berhad is the largest Independent Power Producer in Malaysia and its subsidiary, Alam Flora Sdn Bhd, is one of the leading environmental management companies in the country. Under Gas Malaysia Berhad, we are the supplier of reticulated natural gas in Peninsular Malaysia operating and maintaining 2,468 kilometres of gas pipeline. Through Aliran Ihsan Resources Berhad, we provide full-fledge water services using high technology treatment in Malaysia.MMC's Engineering Division has played a leading role as the Project Delivery Partner and underground works package contractor in completing 51 kilometres Klang Valley Mass Rapid Transit ("KVMRT") Kajang Line (previously known as Sungai Buloh-Kajang Line) including 9.5 kilometres underground works. Currently, we are the main turnkey contractor for 52.2 kilometres KVMRT Putrajaya Line (previously known as Sungai Buloh-Serdang-Putrajaya Line). MMC also successfully completed the 329-kilometre Ipoh-Padang Besar Electrified Double Tracking Project as well as the innovative Stormwater Management and Road Tunnel ("SMART") motorway, the first of its kind, dual-purpose tunnel in the world. MMC is currently in the final stage of completing the Langat Centralised Sewerage Treatment Plant (920,000 Population Equivalent) and Langat 2 Water Treatment Plant (1,130 Million Litres Per Day).MMC's Industrial Development Division develops and manages approximately 5,000 acres of industrial developments namely Senai Airport City ("SAC") and Tanjung Bin Industrial Park ("TBIP") in Iskandar Malaysia, Johor and Northern Technocity ("NTC") in Kulim Kedah. The SAC, TBIP and NTC developments come under the ambit of Industrial Development division's three operating companies - Senai Aiport City Sdn Bhd, Seaport Worldwide Sdn Bhd and Northern Technocity Sdn Bhd respectively.In other business, through Senai Airport Terminal Services Sdn Bhd, we are the operator of Senai International Airport in Johor Bahru - the southern aviation hub and an important gateway to Iskandar Malaysia.Enquiries: Please log on to www.mmc.com.my or call Azlina Ashar, Head of Group Corporate Communications, MMC Corporation Berhad, Tel: +603 2071 1124.About Ramco SystemsRamco is a next-gen enterprise software player disrupting the market with its multi-tenant cloud and mobile-based enterprise software in HR and Global Payroll, ERP and M&E MRO for Aviation. Part of the USD 1 billion Ramco Group, Ramco Systems focuses on Innovation and Culture to differentiate itself in the marketplace. On Innovation front, Ramco has been focusing on moving towards Active ERP leveraging Artificial Intelligence and Machine Learning and Event Driven Architecture by building features such as Talk It - which allows transactions to be carried out by simple voice commands, Bot it - which allows users to complete transaction using natural conversations; Mail It - transact with the application by just sending an email; HUB It - a one screen does it all concept built to address all activities of a user; Thumb It - mobility where the system presents users with option to choose rather than type values and Prompt It - a cognitive ability which will let the system complete the transaction and prompts the user for approval.With 1800+ employees spread across 24 offices, globally, Ramco follows a flat and open culture where employees are encouraged to share knowledge and grow. No Hierarchies, Cabin-less Offices, Respect work and not titles, among others are what makes the team say, Thank God it's Monday!- Leader in NelsonHall's NEAT Matrix for Next Gen Payroll Services- Winner of 2020 ISG Paragon Awards Asia Pacific, for 'Transformation' and 'Collaboration' - Winner Global Payroll Transformation Project of the Year - 2019 by Global Payroll Association- Positioned as Major Contender in Everest Group's Multi-Country Payroll Platform PEAK Matrix For more information, please visit http://www.ramco.com/Follow Ramco on Twitter @ramcosystems and stay tuned to http://blogs.ramco.comFor further information, please contact:Vinitha Ramani+91-9840368048vinitharamani@ramco.com Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

6 4 月, 2021

Volcano IPO Debut Sees Jump of 100% to 70 sen on ACE Market

KUALA LUMPUR, Apr 6, 2021 - (ACN Newswire via SEAPRWire.com) - Volcano Berhad ("VOLCANO", Stock Code: 0232), a leading international manufacturer of nameplates and plastic injection moulded parts, successfully listed on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities") today.From left: Volcano Berhad's Executive Director/Chief Financial Officer Khoo Boo Wui, Executive Director Gan Yew Thiam, Managing Director Datuk Ch'ng Huat Seng, Executive Director Yeap Guan Seng and Executive Director Dato' Wong Tze PengChairman of Volcano, Ms. Wong Wan Chin, said: "Aside from making the Group more visible, this IPO will also help with the expansion of Volcano. In today's highly competitive business environment, this expansion will accelerate our move towards automation and streamline our manufacturing process to ensure sustainable growth. We seek to capitalise on our current regional presence, particularly in Thailand and Singapore, to tap into the immense business opportunities available from the rising growth of the electrical and electronics and automotive industries."Volcano's foreign market accounts for more than 95% of overall revenue in the financial year ended 31 December 2020. Multinational companies comprise 90% of the sales including some leading brand names such as Bernina, Hewlett Packard, Fisher & Paykel Thailand, Donaldson Thailand, Sharp Indonesia and Panasonic Thailand.Today's listing follows from the Balloting Ceremony on 26 March where Volcano recorded an overall oversubscription rate of 176.60 times from the new shares made available to the Malaysian public."While we are humbled by the reception to our IPO from the investing public, we also recognise there are challenges with the fluctuation in raw material prices, exchange rates and the ongoing COVID-19 pandemic. Nonetheless, I am confident that Volcano will thrive as we have the knowledge, we came from hard work and experience, and we have a team of loyal, talented, committed and resourceful people. They are indeed the greatest asset of the Group. Given this, we are optimistic about our growth and future moving forward," said Wong.Trading of Volcano shares on Bursa Securities on a ready basis commenced at 9:00 A.M. (Malaysian time) on 6 April 2021, under the stock name of VOLCANO and Stock Code: 0232.TA Securities Holdings Berhad is the Principal Adviser, Sole Placement Agent, Sole Underwriter and Sponsor for the IPO exercise.For more information, please contact:Hakim JuraimiTel: +60 12-318 5410Email: h.juraimi@swanconsultancy.biz Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

17 3 月, 2021

Volcano Berhad Launches Prospectus for IPO

KUALA LUMPUR, Mar 17, 2021 - (ACN Newswire via SEAPRWire.com) - Volcano Berhad ("Volcano" or the "Group"), a leading international manufacturer of nameplates and plastic injection moulded parts, has successfully launched its prospectus for the Group's listing on the ACE Market of Bursa Malaysia Securities Berhad ("Bursa Securities").Volcano Berhad's factory in Rayong, ThailandVolcano's initial public offering ("IPO") involves a public issue of 25.0 million IPO shares and an offer for sale of 35.0 million shares at the issue price of RM0.35 sen per share, made available for application in the following manner:Public issue:- 8.25 million new shares will be available for application to the Malaysian public;- 8.25 million new shares will be allocated for application by eligible directors, key senior management, employees and business associates; and- 8.50 million new shares will be offered by way of private placement to identified investors.Offer for sale:- 14.375 million shares by way of private placement to identified investors; and- 20.625 million shares by way of private placement to identified bumiputera investors approved by the Ministry of International Trade and Industry.The IPO is expected to raise gross proceeds of RM8.75 million. From the proceeds, the Group will use RM5.55 million for the purchase of machinery and equipment while RM3.20 million will be used for listing expenses.Managing Director of Volcano, Datuk Ch'ng Huat Seng, said: "We are one step closer to an important milestone for Volcano since our establishment in 1999. For the co-founders, it is also a significant event in our professional careers to have come this far and we see our prospects supported by a strong and long-term customer portfolio comprising multinational companies from around the world. Our products are also used in end-user markets especially in the electrical and electronics ("E&E") as well as automotive industries.""The proceeds from the IPO will go towards acquiring laser-cutting and pick-and-paste machines to improve the efficiency and capability of our nameplate manufacturing process. We are going to purchase additional plastic injection moulding machines to expand the plastic injection moulded parts manufacturing business. Besides the purchase of machinery and equipment, we are also going to expand our factory in Rayong, Thailand as we intend to expand our presence in the E&E and automotive industries in the country."Volcano's principal markets are Singapore and Thailand. Overall, the foreign market accounts for more than 95% of overall revenue in the financial year ended 31 December 2020. Multinational companies (MNCs) comprise 90% of the sales including some leading brand names such as Bernina, Hewlett Packard, Fisher & Paykel Thailand, Donaldson Thailand, Sharp Indonesia and Panasonic Thailand.Volcano's Principal Adviser, Sole Placement Agent, Sole Underwriter and Sponsor in relation to the IPO is TA Securities Holdings Berhad ("TA Securities"). Pursuant to the underwriting agreement, TA Securities will be underwriting for shares available for application by the Malaysian public.Datuk Ch'ng said: "Where we are today is also due to the hard work and dedication of the Volcano team. They are experienced and committed with operational expertise and in-depth knowledge of manufacturing of nameplates and plastic injection moulded parts. Our sincere gratitude goes to our customers and suppliers throughout the years that have continued to support our growth and success. We would also like to extend our gratitude to the team at the Securities Commission and Bursa Securities in assisting Volcano throughout the IPO process."Please contact the below for more information:Stefani WanTel: +6012 286-1481Email: s.wan@swanconsultancy.biz Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)