16.3 C
New York

Tag: sale

RHT Rajan Menon Foundation presents Gentle Bones Charity Concert on 22 July 2022

SINGAPORE, May 29, 2022 - (ACN Newswire) - Local singer-songwriter Gentle Bones will return to the stage for a good cause in collaboration with RHT Rajan Menon Foundation...

Top News

ApeCoin Surges Over 40% Amid Major Metaverse Debut Rumors, Transcending SAND and MANA

ApeCoin, the native token for the Bored Ape NFT collection rallied to near-record highs on Saturday, as the platform’s developer community, Yuga Labs, hinted...

Metallika.Inc Announces Integration of Blockchain to Mining of Natural Resources

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

NEW YORK, Apr 22, 2022 - (ACN Newswire) - Metallika.Inc, a global company focusing on the decentralization of mineral mining, has announced the integration of blockchain technology to its mining operations. The processes involved in mining are made up of a lot of stages with enormous data. In order to make our mining projects available to all investors, no matter big or small, Metallika is launching its own utility token. The company is collaborating in a series of exploration projects that include the granite project (currently in the development stage), beach sand mineral project (feasibility stage), chrome mineral trading, and graphite project (discovery stage). All the mining projects have passed through the initial 4 to 5 stages of the mining lifecycle and can start production within a space of 2 years. The team has also created a decentralized autonomous organization (DAO) to facilitate fast, reliable, and transparent communication among partners in the exploration and mining cycle.

The Metallika DAO

The decentralized autonomous organization created by the Metallika team is a system designed to operate on the blockchain autonomously. It completely adheres to the rules encoded into the smart contract. Every financial transaction within the DAO and the software rules of the smart contract will be stored within the chain of the transaction blocks. The team deployed distributed database technologies, secure timestamps to organize a secure digital ledger of contracts, deeds, and records that ensure ownership for all the DAO participants.

The major product of the DAO Metallika is cloud services. The Metallika DAO provides reliable and transparent communication between participants in the mining cycle with the cloud services. These participants are enabled to form partnerships and also obtain investments at every stage of the cycle. All members of the DAO can access the documentation stored in IPFS and manage approval processes for documentation generated during exploration. They can also issue digital commodity backend tokens that are backed by minerals.

The Metallika Token

It is a utility token that enables the operation of the Metallika DAO. The token guarantees access to the products and services of the DAO. One of the major properties of the token is that you can access it within the private Metalika DAO and other public blockchain networks like Binance Smart Chain (BSC) and Ethereum. The team is currently working on expanding the number of public blockchains for the token. The total token supply is 300,000,000, and 50% (150,000,000) will be an ERC-20 compliant token, while the remaining half will be BEP-20.

Upcoming Token Sale

The first stage of the token sale will be for the 300 million tokens on the public blockchain networks (Ethereum and BSC). Once the Metallika DAO goes live, a liquidity pool of tokens will be created within the DAO. It will be equal to the total number of tokens already issued on the public blockchains. The price per Metallika token is $0.1.

About Metallika.Inc

Metallika.Inc is a blockchain-powered company that tokenizes the services of mining natural resources. Companies and individuals who hold the Metallika token will be granted access to the data about mineral resources. These token holders can be part of the exploration and extraction of these resources.

Social Links
Facebook: https://www.facebook.com/Metallika.IO
Telegram: https://t.me/+D8KLYFM1CrkyNzkx
Twitter: https://twitter.com/MetallikaICO

Media Contact
Venkatesh Padala, Founder and CEO, Metallika.Inc
E: info@metallika.io
U: https://metallika.io/

SOURCE: Metallika.Inc

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comMetallika.Inc, a global company focusing on the decentralization of mineral mining, has announced the integration of blockchain technology to its mining operations.

Heroes of Arcan, the DAO-Powered Heroic Fantasy Play-to-Earn Game, Announces Upcoming Token Sale

Tallinn, Estonia, Apr 22, 2022 - (ACN Newswire) - Heroes of Arcan, an upcoming play-to-earn epic heroic fantasy game that aims to place the destiny of the world of Arcan in the hands of players for both in-game action and development is set to launch a token and NFT sale event in Q2 2022 that will allow players to participate in the development of the world of Arcan and access ARCAN tokens prior to launch.

Of 100 million ARCAN tokens minted on the WAX blockchain, 14 percent will be reserved for the Heroes of Arcan play-to-earn model, 6 percent to a private sale underway in Q2 2022, and 12.5 percent for the public token sale. A further 24 percent will be held in reserve in a community wallet and used to reward players and ARCAN token holders that stake in the Heroes of Arcan DAO.

Heroes of Arcan, founded by Thomas Gio, is set to launch in mid-Q3 2022. Further information on the Heroes of Arcan project and token sale can be found via socials.

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

The play-to-earn gaming industry has created an NFT-fuelled revolution over the last year. Over the course of 2022, play-to-earn games saw over $4.5 billion in trading volume transacted through blockchain-based games across over 754,000 daily active wallets.

Many of the play-to-earn games available to players today, however, lack the narrative and multiplayer community features associated with games within the mainstream gaming market. In many cases, play-to-earn games place a strong emphasis on generating potentially valuable NFT-based game elements that can be sold for a profit through in-game or secondary markets for cryptocurrency.

Heroes of Arcan aims to disrupt the contemporary play-to-earn paradigm with an epic narrative-rich heroic strategy game that pits players against each other within a vibrant, evolving fantasy universe. Drawing from strategic resource and territory management games, MMOs, and hero-focused elements of MOBA games, Heroes of Arcan is positioned to bring the "play" back into the "play-to-earn" model.

Building the First Player-Driven Epic Fantasy Game DAO

Heroes of Arcan launches players into the fantasy world of Arcan, in which players join factions and compete over territory fractured by conflict, war, and magical catastrophes of world-ending proportions. The world of Arcan is represented by 20,000 individual land pieces, each of which is an NFT — players collect sources, build tools, and capture land in order to create structures and collect Heroes.

The epic fantasy narrative of Heroes of Arcan provides play-to-earn gamers with far more than a means of generating profit from their playtime — Heroes of Arcan developers have made a concerted effort to create a vivid world in which their players are able to form alliances, create and execute novel strategies, and create teams of powerful heroes.

While Heroes of Arcan integrates many of the features expected of a strategy play-to-earn game, such as upgradable equipment, structures and tools, harvestable resources, and in-game marketplaces that allow players to trade with one another, a number of unique social and governance features make Heroes of Arcan a highly disruptive presence within the play-to-earn market.

Dynamic Peer-to-Peer Marketplace Reinvents Play-to-Earn Model

The resources, heroes, territory, and other gameplay elements of the Heroes of Arcan universe can be freely traded by players through an in-game marketplace. The way in which Heroes of Arcan handles trading in-game, however, functions very differently from the static, centralized models found in many other play-to-earn games.

Rather than operate in a vertical manner, the Heroes of Arcan economy integrates an organic growth model that promotes player-driven economic evolution and prevents economic imbalance. Arcanium, Heroes of Arcan's in-game currency, is represented by the ARCAN token, placing control over the flow of value in the world of Arcan in the hands of players.

Transactions and trades made with ARCAN in Heroes of Arcan are subject to a tax, which forwards a part of fees paid by players using in-game marketplaces to a community wallet. ARCAN held in this community pool is used to reward players that stake ARCAN in order to participate in the Heroes of Arcan DAO.

Heroes of Arcan allows players to interact directly with the governance and development of the universe of Arcan by implementing a Decentralized Autonomous Organization model — players that stake ARCAN not only receive rewards from the community wallet, but can also propose and vote on changes that will affect the destiny of Heroes of Arcan.

The Heroes of Arcan economic model is supported by a horizontal gameplay system that ensures new players are able to gain a footing in the competitive world of Arcan, eliminating the centralization of resources and in-game power that occurs in other play-to-earn games.

Social interaction plays an important role in the world of Heroes of Arcan. New players of Heroes of Arcan choose a faction — the diplomatic Preachers, the warlike Conquerers, or the magically adept Wiser — to align with. Each faction is represented by a continent in the world of Arcan. Players in each faction are able to communicate with each other in dedicated Discord servers, opening the door to the formation of player alliances and guilds - or betrayal.

Economic sustainability within Heroes of Arcan is driven by additional features that will include mini-games, seasonal events, and territory updates. Early stages of the game offer power and economic scaling through resource collection, but later updates will provide players with the opportunity to improve and level up heroes, lands, tools, and equipment, create potions and enchantments, or build new architecture elements to add additional layers of economic complexity.

Robust Story-Driven Gameplay

The lore that drives the gameplay within Heroes of Arcan provides players with a far more compelling storytelling experience than any other play-to-earn game on the market. Heroes of Arcan developers provide a robust narrative and history behind the world of Arcan, launching players into a world in which three factions compete for territorial dominance.

Heroes offer players a powerful way to gain passive benefits when collecting resources, as well as a means of exploring new territory and gaining access to randomized loot drops through chests.

Social Links
Linktr.ee: https://linktr.ee/heroesofarcan

Media Contact
Thomas Giovannangeli, CEO, Heroes Of Arcan
E: hello@heroesofarcan.io
U: https://heroesofarcan.io

SOURCE: Heroes Of Arcan



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com

Singtel partners UOB and ADDX on largest foreign currency digital bond in Singapore

Singtel’s first digital sustainability-linked bond reaffirms the Group’s commitment to sustainability and support the digitalisation of the financial ecosystem Singapore, 20 April 2022 – Singtel,...

Kitchen Culture’s business transformation at risk – funds raised not accounted for

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

SINGAPORE, Apr 21, 2022 - (ACN Newswire) - As the single largest shareholder of Kitchen Culture Holdings Ltd. ("Kitchen Culture") with a 21.19% stake, OOWAY Group Ltd. ("OOWAY Group" or the "Group") shares the frustration of many shareholders who raised concerns over matters of internal controls and governance ahead of Kitchen Culture's recent Annual General Meeting held on 18 March 2022.

We are deeply disappointed by the findings of Baker Tilly Consulting (Singapore) Pte. Ltd.'s ("BTC") latest report which confirm our worst fears regarding the shocking matters of concern which were first revealed in June 2021 after Kitchen Culture's Audit Committee engaged BTC to review its internal controls.

In August 2020, Kitchen Culture entered into a sale and purchase agreement and a shareholder's agreement with OOWAY Group to acquire a 30% equity stake in OOWAY Technology Pte. Ltd. ("OOWAY Technology") at a purchase consideration of S$23.92 million (the "Purchase Consideration") to be satisfied by way of the allotment and issue of 90,000,000 new ordinary shares in the capital of Kitchen Culture at an issue price of S$0.2658 per ordinary share ("Acquisition").

Mr Liu Yanlong, representative for OOWAY Group, said, "We welcomed Kitchen Culture as a strategic investor in OOWAY Technology given the mutual benefits of the acquisition, which was in line with Kitchen Culture's diversification strategy and OOWAY Group's expansion in the ASEAN region. OOWAY Group provided an opportunity for Kitchen Culture to leverage our network and capabilities, as well as to participate in the significant growth potential of Big Data analytics and Artificial Intelligence."

Kitchen Culture's diversification strategy was crucial as it had long suffered from recurring losses and negative operating cash flow from its core business as a kitchen solutions provider for 8 years and was in a dire state at the time of the acquisition.

The combination of the newly raised funds and OOWAY Technology's gilt-edge technical capabilities would have provided new engines for growth and hastened the return to profitability for Kitchen Culture.

Prospective investors present at OOWAY Group-led investment roadshows, eventually took up equity in Kitchen Culture, with the expectation of the game-changing business diversification through the acquisition of OOWAY Technology. Unfortunately, the raised capital has not materialised into any effort in business transformation.

Instead, we are deeply disappointed with the findings of the BTC report, which revealed that the gaps in Kitchen Culture's financial operating procedures led to[2]:

- Risk of misuse of Kitchen Culture's funds
- Risk of unauthorised use of proceeds obtained from the S$19.23 million of funds raised
- Risk of diversion of raised funds to purposes outside business diversification purposes
- Risk of questionable debt repayments to third parties
- Lack of independence and checks and balances in approving and processing payments
- Lack of accountability and traceability over entertainment expenses
- Lack of documentation for personnel hiring and pay increments
- Inappropriate operating structure involving multiple family members as management staff

These risks which were unknown to us prior to the acquisition have had a major impact on our growth plans as ongoing audits, investigations and lawsuits require significant time and resources, a challenging situation further compounded by the historical losses. Furthermore, Kitchen Culture has suffered reputational damage as a result of these issues.

Kitchen Culture's last traded price of S$0.08 per share marks an unrealised loss of close to 70% or S$16.72 million for the OOWAY Group following the completion of the acquisition. On the other hand, OOWAY Technology's value has remained stable during this period, which is also Kitchen Culture's key asset. As OOWAY Technology continues its development and making encouraging progress to grow its business, the long-term value of Kitchen Culture's stake in OOWAY Technology remains fundamentally intact.

Mr Liu added, "As a shareholder of Kitchen Culture, we have sustained significant losses, but we remain committed to growing our business together with Kitchen Culture and intend to provide the funding support needed in the near term to allay going concern issues."

The latest BTC report has identified S$7.22 million as "unmatched". This is a staggering sum and OOWAY Group hopes that the Management of Kitchen Culture investigates further to get to the bottom of this issue, so that any and all discrepancies will be ultimately accounted for to shareholders.

The Commercial Affairs Department (CAD) has recently requested for copies of the BTC reports for further review and investigation. We call on the new Board of Kitchen Culture to continue its relentless efforts to strengthen internal controls and implement BTC's recommendations without delay and to cooperate with the CAD to leave no stone unturned in fully resolving all outstanding issues, so we can lead the company in business transformation again.

Our confidence in Kitchen Culture's new Board to safeguard the interests of shareholders remains strong, but it must work hard to rebuild long-term value for Kitchen Culture and its shareholders.

BTC's Schedule of Matched and Unmatched Expense Items[3]
https://www.acnnewswire.com/docs/Multimedia/Low_OOWAY20220421.jpg

General Announcement:: UPDATE ON REVIEW BY BAKER TILLY CONSULTANCY (SINGAPORE) PTE. LTD. https://bit.ly/386bU8i
General Announcement:: ASSISTANCE IN THE REVIEW BY THE COMMERCIAL AFFAIRS DEPARTMENT https://bit.ly/3jWNY9U

[1] "Unmatched" refers to situations with any of the following criteria:
- Expenses cannot be traced to the bank statements
- Details of expenses cannot be traced to the underlying supporting documents
- Description of the expenses on the supporting document is not in line with the categories of utilisation as stated in Kitchen Culture's schedules
[2] These risks and gaps reflect the summary of findings listed in Kitchen Culture's response to SGX queries on 12 July 2021
[3] Rounded up to two decimal points

About OOWAY Technology Pte. Ltd.

OOWAY Technology is a big data AI technology company which uses innovative applications to creatively design intelligent digital products and models used in multiple fields. It does so by forming a closed loop of the entire process which includes data collection, model analysis, and intelligent applications.

OOWAY's development of an advanced technology platform - DIGIT (Digital Innovation of Global Integrated Trade) propels it to leading the way in a new era of B2B trading 4.0. By integrating the vitality of global trading businesses with emerging digital technologies, OOWAY's credit 3.0 technology is combined to construct a smart platform that ensures the authenticity and credibility of global trade whilst reducing costs, increasing efficiency and facilitating trade in a more reliable fashion. OOWAY brings to users the 5S operating framework, pushing out a new form of Ultimate Trade (UT). This has enabled global trade to evolve towards a new stage of standardization and intelligence.

Issued by OOWAY Group Ltd.

Media Contact:
Email: service@ooway.com

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comAs the single largest shareholder of Kitchen Culture Holdings Ltd. ("Kitchen Culture") with a 21.19% stake, OOWAY Group Ltd. ("OOWAY Group" or the "Group") shares the frustration of many shareholders who raised concerns over matters of internal controls and governance ahead of Kitchen Culture's recent Annual General Meeting held on 18 March 2022.

MuskMelon Token Debuts with Massive 6000% Returns to Investors

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

DAKAR, Senegal, Apr 19, 2022 - (ACN Newswire) - MuskMelon, the latest entrant to the NFTs (Non-Fungible Tokens) and Gaming segment, rose during its first trading day on Bitmart and XT briefly returning 6000% to investors. MuskMellon is a utility token developed on Binance Smart Chain and Ethereum. 10,000 unique 3D NFTs came to the marketplace, tradeable in the gaming ecosystem.

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

The evolutionary and disruptive industry is focusing on the utility of these NFTs. Metaverse integration has picked up pace, and the growth and benefits for the gaming industry are already prevalent. Experienced players entering the space with unique play to earn and NFT avatar models will lead to a more significant boost to the ecosystem.

Neal Mathews, Project Director of MuskMelon, said, "The tradeable part of the gaming ecosystem is scheduled for launch in May 2022, with the eagerly awaited Run Melon Run. This is the first Game to be launched on the platform that will host the Melon NFTs and merge the utility of the Melon Tokens, enabling users with dual benefits. The game will be available on iOS, and on Android after its launch."

MuskMelon allows meme creators to spread their word, build a strong community and earn. The entire process of MuskMelon is decentralized and helps aspiring meme creators showcase their talent to the world. The platform prides itself on being a community-driven initiative, which reignites the spark that brought the Blockchain-Cryptocurrency industry to life.

MuskMelon seems to be an ecosystem that wants to engage the global audience with NFTs and immersive gaming possibilities. Melons with a maximum supply of 10 billion tokens and are launched on the BEP20 and ERC20 networks. The MuskMelon community wanted to ensure maximum public participation and a fair sale.

For more information, please visit the website, at https://muskmelon.org/.

Media Contact:
Neal Mathews
E: hello@muskmelon.org
T: +221 774800422

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comMusk Melon, the latest entrant to NFTs (Non-Fungible Tokens) and Gaming, resulted in over 6000% returns to the investors on Day 1, traded on Bitmart and XT, developed on Binance Smart Chain and Ethereum. Over 10,000 unique 3D, NFTs launched with Gaming in the last month.
Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

Analytical Platform RaysX Will Launch the RAX Token

Dubai, UAE, Apr 19, 2022 - (ACN Newswire) - RaysX, an analytical platform that helps traders and investors to holistically analyze the cryptocurrency market and decentralized finance, will launch its own RAX token.

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

Early investors may have the opportunity to participate in the private sale of $RAX tokens before listing on crypto exchanges. According to the founders of the project, they only consider the RAX listing on the major crypto exchanges, including Binance. To purchase a token at a favorable price, investors and users need to fill out a whitelist.

"RAX is a native utility token of RaysX that helps developers monetize and stimulate the evolution into DeFi 2.0. It is a medium of exchange between developers and DeFi investors using Web3 applications. Third-party developers can build and deploy apps while users can use these apps by paying with RAX," said RaysX founder George Gus.

RAX token can be used in multiple cases, one of which is app deployment. This means that external app developers access ready-made modules to build and deploy their applications using RAX token. In addition, users pay external app developers for the rights to access these apps using RAX tokens. They also get access to exclusive analytics and forecasts created by analysts and seasoned traders. At the same time, DeFi investors pay transaction fees required by trading apps on RaysX platform.

About RaysX

RaysX is designed to bring together the best minds of the crypto industry to accelerate the transition to DeFi 2.0 by overcoming and breaking down the constraints that are preventing the crypto market from becoming a full-fledged alternative to traditional finance today. List of RaysX key products includes:

  • RAX Token. A native utility token of RaysX that helps developers monetize and stimulate the evolution into DeFi 2.0.
  • The environment of the external Open Source Apps for DEXs and DeFi with monetization through RAX Token.
  • The ML Prediction algorithm for deep data analytics and ranking with an open API for developers.
  • Analytics Dashboard, DEX Terminal, and marketplace for external apps.
  • RAX CryptoRank. A ranking algorithm to build a fairer rank.
  • External Apps. A marketplace for external applications that allows any developer to deploy his application to the platform and make it available to a wide range of investors and users.

Social Links
Medium: https://medium.com/@raysx
Twitter: https://twitter.com/Ray__sX
Telegram: https://t.me/Ray_sX

Media Contact
Brand: RaysX
Contact: Media team
E-mail: gg@ray.sx
Website: https://ray.sx/

SOURCE: RaysX



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com

Metaverse gaming platform Manufactory launches NFT-based land drops

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass AdoptionDecentralized gaming platform Manufactory is inviting all players to participate in its NFT-based land drops on April 19th. Manufactory, a PvP-based competitive and skill-based game, is now inviting all players and engineers to the public sale events for its NFT-based virtual lands scheduled on the 19th of April. These lands within the ManuFactory game will […]

PLS Plantations rated Silver3 by RAM Sustainability

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

KUALA LUMPUR, Apr 18, 2022 - (ACN Newswire) - PLS Plantations Berhad today announced their receipt of Silver3 ratings by RAM Sustainability for its principal plantations and trading segments, reflecting some gaps and the early stages of the Company's ESG practices that are crucial for reforestation and plantation-related sectors.

The sustainability ratings by RAM Sustainability, a leading provider of independent ESG analytics, captures the Company's corporate sustainability performance based on all the environmental, social and governance (ESG) themes, as well as relevant international and domestic guidelines by Bank Negara Malaysia's (BNM) Climate Change and Principle-based Taxonomy (CCPT).

PLS Plantations' Independent Non-Executive Chairman, Tan Sri Nazir Razak said, "This rating sets the baseline for the Company, in providing clear forward strategy in terms of our priorities and focus areas, across our business and operations, especially in areas for improvement. Equally as important, it offers our stakeholders - investors, regulators, business partners, suppliers, and clients - an objective and transparent assessment of our commitment to sustainability and responsibility as a reliable supplier, business partner, and an employer. PLS Plantations is working hard to execute against our strategy towards becoming Malaysia's leading sustainable, agrofood provider in the coming years."

RAM Sustainability's Chief Executive Officer, Promod Dass said, "PLS Plantations is establishing a starting point for its ESG journey by subjecting itself to the rigors of a sustainability rating and positioning that transparency is a priority even though it points to its high ESG risk profile - for this it must be commended, and we look forward to monitor its sustainability progress. We hope that this will set a precedent for more companies to embark on their sustainability journey and aspire to achieve the highest ratings."

As part of the Company's turnaround journey, PLS demonstrates strong commitment to expand on its corporate governance framework and policies, especially in areas of sustainability governance, pending a dedicated group-wide framework and policies to govern the Company. As a Public-Private-Partnership (PPP), PLS Plantations' vision is to contribute to the nation's food security and positive socioeconomic impact through initiatives in supporting local farmers, specifically the B40 and indigenous communities. The Company commits to produce quality products and services evidenced by the various certifications obtained such as the Malaysian Sustainable Palm Oil (MSPO) Certification for its plantation segment. The Company's trading business has received Good Manufacturing Practices (GMP), Malaysia Good Agricultural Practices (myGAP), HALAL and Hazard Analysis Critical Control Point (HACCP) certifications, among others and has dedicated policies to manage human resource and human rights including the Good Social Practices Policy, Occupational Safety and Health Policy, Child Labour Policy and Sexual Harassment Policy.

For more information, or to download the complete the PLS Plantation's RAM Sustainability rating report, please click here. https://www.ram.com.my/pressrelease/?prviewid=5964

About PLS Plantations Berhad

PLS Plantations was incorporated in Malaysia in 1987 and was listed on the Second Board of Kuala Lumpur Stock Exchange in 1994. Currently listed on the Main Board of Bursa Malaysia Securities Berhad, PLS and its subsidiaries are involved in the management and operation of forest, oil palm and durian plantations, as well as the processing, distribution and sale of durian products.

Forward-Looking Statements

The statement included in this press release, other than statements of historical facts, are forward-looking statements. Forward-looking statement generally can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "seek," or "believe." These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include projections of our future financial performance based on our growth strategies and anticipated trends in our business. These statements are only predictions based on our current expectations about future event. There are important factors that could cause our actual results, level of activity, performance, or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statement, including, but not limited to our ability to win additional business. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future result, level of activity, performance, or achievements. You should not rely upon forward-looking statements as predictions of future events. These forward-looking statements apply only as of the date of this press release; as such, they should not be unduly relied upon as circumstances change. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this release or those that might reflect the occurrence of unanticipated events.

Media Contact:
Cheong Sue Fyenn
Narro Communications
E: suefyenn@narrocomms.com
T: +6016 910 7625

PLS Plantations Berhad: https://plsplantations.my/
PLS Plantations Berhad: 9695 / [BURSA: PLS]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comPLS Plantations Berhad ("PLS Plantations" or the "Company") today announced their receipt of Silver3 ratings by RAM Sustainability for its principal plantations and trading segments, reflecting some gaps and the early stages of the Company's ESG practices that are crucial for reforestation and plantation-related sectors.

Will Shiba Inu’s ‘The Metaverse’ sale prop prices up and generate returns

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass AdoptionShiba Inu has had a frolicking month after two separate 30%+ rises. However, regardless of the rallies, SHIB has had a pretty lukewarm month so far. But this might change soon thanks to the ongoing metaverse bidding event for the land in the SHIB: The Metaverse. And sold! As announced by Shiba Inu, the first […]

Yew Lee Pacific Group Bhd Engages M&A Securities Sdn Bhd to Manage Listing Exercise

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

KUALA LUMPUR, Apr 11, 2022 - (ACN Newswire) - Yew Lee Pacific Group Bhd (Yew Lee), an established manufacturer of industrial brushes as well as the trading of machinery parts and industrial hardware is pleased to announce that it has entered into an underwriting agreement with M&A Securities Sdn Bhd (M&A Securities) today for the Company's upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd (Bursa Securities).

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption
Chief Operating Officer of Yew Lee, Ms. Amber Ang; Managing Director of Yew Lee, Mr. Ang Lee Leong; Managing Director of Corporate Finance of M&A Securities, Datuk Bill Tan; Deputy Head, Corporate Finance of M&A Securities Mr. Danny Wong [L-R]

The IPO exercise involves the public issue of 133.1 million shares and an offer for sale of 26.62 million shares to selected investors. From the public issue, 26.62 million shares will be made available for application by the Malaysian public via balloting; 15.97 million shares will be allocated to its eligible directors and employees (pink forms); another 23.96 million shares will be reserved for private placement to selected investors and; an allocation of 66.55 million shares will be allocated through private placement to bumiputera investors approved by the Ministry of International Trade and Industry (MITI).

Under the underwriting agreement, M&A Securities will underwrite 42.59 million shares of the total proposed issue of shares allocated to the Malaysian public and through pink forms. M&A Securities will also place out 90.51 million issue shares to selected investors and bumiputera investors approved by MITI.

Managing Director of Yew Lee, Mr. Ang Lee Leong, said: "We are delighted to be working with M&A Securities on our IPO as this underwriting agreement marks the first stage of the path towards our eventual successful listing on the ACE Market of Bursa Securities. This listing will help us to raise the capital needed for our expansion plans while at the same time, boost our brand visibility in the industrial brush industry."

Managing Director of Corporate Finance of M&A Securities, Datuk Bill Tan said, "We are pleased to be playing a key role in the IPO exercise of Yew Lee. The Company has solid experience and expertise in the production of industrial brushes with a history that goes back to the early 1990s. It has come far but we have no doubt that Yew Lee will build upon this listing to excel even further. We wish the Company well as it enters a new stage in its growth."

Yew Lee manufactures industrial brushes for a variety of industries, including glove, industrial, electrical and electronic, industrial and commercial cleaning providers as well as glass and wood producers. For the financial year ended 31 December 2020 (FY2020), Malaysia contributed 81.4% of total revenue, with Thailand contributing 6.7% and Vietnam contributing 6.2%. By industry, glove manufacturers contributed 88% to revenue in FY2020.

Yew Lee Pacific Group Bhd: https://yewlee.com.my/

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comYew Lee Pacific Group Berhad (Yew Lee), an established manufacturer of industrial brushes as well as the trading of machinery parts and industrial hardware is pleased to announce that the Company has entered into an underwriting agreement with M&A Securities Sdn Bhd (M&A Securities) today for the Company's upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Berhad (Bursa Securities).

G3 Global Gets Shareholders’ Nod for Healthcare Venture and Three Other Resolutions

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

KUALA LUMPUR, Apr 8, 2022 - (ACN Newswire) - Artificial Intelligence specialist G3 Global Berhad (G3) has cemented its entry into the higher-margin Healthcare business - beginning with the sale of COVID-19 test kits - after it received approval from its shareholders today. Via a virtual Extraordinary General Meeting (EGM), the shareholders also approved a cash call to grow the Healthcare and ICT divisions; a higher limit to issue new shares; and the engagement in related party transactions (RPT).

Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption
Dirk Quinten, Managing Director

Four resolutions were tabled at the EGM, all of which received approval by the voting shareholders. The first resolution was on the proposed diversification into healthcare-related business, whereas the second resolution was on a proposed private placement of up to 432,849,300 new ordinary shares or 20% of G3's total issued shares. The new shares will be issued to independent third-party investors to be identified at a later stage, and the funds raised will be used to expand G3's Healthcare and ICT businesses.

In addition, the third resolution was to increase the limit for authority to allot and issue shares from 10% to 20%, while the fourth resolution proposed a new shareholders' mandate for recurrent RPTs.

Mr. Dirk Quinten, Managing Director G3 Global Berhad said: "The strong approval we received from the shareholders today is indicative of their confidence in the management and the strategic business directions of the Group. Moving forward, G3 will expand its footprint in the Healthcare segment by leveraging on the technology from our partners, i.e. SenseTime and Bestinet Group, as we strive to be more than just a test kits supplier. We are also looking at providing tech-driven healthcare support services to local public and private hospitals and this would offer a good recurring income stream for the Group.

With regards to the private placement exercise, we already have a few parties expressing their interest in G3 as a forefront Artificial Intelligence company supporting the healthcare sector. The prospective investors believe in the value proposition that G3 could bring, especially after the acquisition of Bestinet Healthcare Sdn Bhd last year."

G3 acquired a 51% equity stake in Bestinet Healthcare on 8 September 2021. The principal activities of Bestinet Healthcare are mainly related to pharmaceuticals and medicines & health products. The shareholding in Bestinet Healthcare will help to boost G3's revenue and allow exploring additional business opportunities in the future. The Group will also leverage on its in-house Artificial Intelligence capabilities to innovate new products and services for the healthcare business.

G3 Global: https://g3global.com.my/
G3 Global: 7184 / [BURSA: G3G] [RIC: GLOA:KL] [BBG: G3G:MK]

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comArtificial Intelligence specialist G3 Global Berhad (G3) has cemented its entry into the higher-margin Healthcare business - beginning with the sale of COVID-19 test kits - after it received approval from its shareholders today. Via a virtual Extraordinary General Meeting (EGM), the shareholders also approved a cash call to grow the Healthcare and ICT divisions; a higher limit to issue new shares; and the engagement in related party transactions (RPT).
Tag Template - News Hub PRO CoinGenius Hosts Virtual Crypto Event The Road To Mass Adoption

Recent articles

spot_img