To recap, Nicorp had been slated to see a series of corporate exercise to restructure the company. After the fiasco from Raymond Chan in Nicorp, the company had finally seen a more solid direction under the lead of Dato Siaw Swee Hin now.

Dato Siaw Swee Hin had earlier buyout partial of the stakes from Raymond Chan on his disposal, while another small portion had been taken up by Quantum Discovery Sdn Bhd, which was then owned by Datin Khoo Lay Wah.

The latest development on 11th November 2014 had saw Dato Siaw Swee Hin, along with his brother, Siaw Sween Woon, taking over Quantum Discovery Sdn Bhd after buying out from Datin Khoo Lay Wah and her partners.

The buy out will see Dato Siaw having a direct stake of 39,172,600 shares and indirect stake of 67,847,976 shares from Quantum Discovery Sdn Bhd, totaling almost 14% in a short period of time.

While doing so, Siaw Swee Woon had also started to accumulate shares from the open market as to add up his interest from the indirect stakes that he owned at Quantum Discovery Sdn Bhd.

Let us take a look on the board of directors of NICORP.

Dato Abdel Aziz @ Abdul Aziz Bin Abu Bakar is a former executive director of AirAsia. Currently, he is a non exec non independent director of AirAsia with a position as a member of the audit, nomination and remuneration committee.

Dato Abdel Aziz is also an executive chairman for VDSL Technology Sdn Bhd, which provides internet coverage for corporate tower and government offices blocks.

Dato Siaw Swee Hin is a low profile businessman that had venture into Singapore during his earlier days as a marketing executive. Currently, he is the Managing Director of Alltrust International Group.

Alltrust Internation Berhad is a partner with NamHai JSC, which is dealing with the marketing and distribution of Vietnam Long Grain White Rice. Currently, NamHai JSC is the top 10 domestic rice player in Vietnam, and is able to hold a production of more than 1.5 million metric ton a year.

Alltrust Internation Pte Ltd is dealing with Interior Fit-Out & Mixed Construction Services, Oil & Gas, Chemical and Pharmaceutical equipments and will be expanding into providing mining technology and general import and export services.

Alltrust International Group had been growing steadily under the management of Dato Siaw, which saw the company enormous growth into different sectors of trades. With the coming up expansion, Alltrust International will need to more working capital to expand further and faster.

Ar. Hud Bakar has over 24 years of experience in designing small and large scale projects. With a recognisable volumes, planes and contextual architectural style, he is responsible for many of KL landmark buildings such as the Felda Tower, Miti Headquarters, Menara BIMB, Matrade Centre, Paradigm Mall and Jakim Office Complexes, to name a few. Apart from his numerous scholastic achievements, Ar. Hud Bakar practice has also been distinguished with awards such as the FIABCI Awards, Asia Pasific Property Awards, BCI Firm of the Year, PAM Awards and The Edge Dream Homes Awards. Among his notable works are the Menara Felda, KL Hilton & Le Meridien Hotel, Menara Public Bank, Menara Great Eastern, Queensbay Penang, Platinum Park KLCC, Laman Seri Shah Alam, Ferrari, Brabus and Harley Davidson showrooms Malaysia. Other current works include Paradigm Kelana Jaya,MIDA & SSM Tower, Menara BIMB, Naza Tower, MITI and Jakim Office Complexes to name a few.

Wah .... Look at NICORP board of directors. They all are very capable person. 

Now let us take a look on NICORP current business.

Project Management Consultant (“PMC”)

The Company has been awarded the role of project management consultant (“PMC”) for the Gateway Klang Project, a mixed commercial development consisting of duplex shop office, hotel tower, anchor lot, cineplex and related external works from Lagenda Erajuta Sdn. Bhd. The value for the PMC award is estimated to be RM18 million over a period of three (3) years. The award has been approved by the shareholders at the Extraordinary General Meeting held on 17 April 2015. Additionally, the Company also has been awarded the PMC role for the Likas Boulevard Project, a 30 storey mixed commercial development consisting of basement carpark, lower ground shop, duplex shop office, hotel tower, condominium, anchor lot, cineplex and related external works at Teluk Likas, Sabah from GE Properties Sdn. Bhd. The value for the PMC award is estimated to be RM24 million over a period of five (5) years. Both awards are expected to provide the Group with additional sources of income for the next five (5) financial years and the income generated from the PMC is expected to contribute positively to the future earnings of the Group.

Refurbishment of Shopping Mall

The Gateway Centerpoint Seremban Shopping Mall is currently undergoing an asset enhancement initiatives to upgrade the Shopping Mall for better branding and to generate better and stable rental income to the Group. The Company is targeting to re-open the Shopping Mall in the second half of 2016. The Board believes that the proposed asset enhancement initiatives would contribute positively to the Group’s profitability and returns on shareholders’ fund.

COMMENTARY ON PROSPECTS

The refurbishment and upgrading of the Seremban mall had been completed and commenced operation at the end of September 2016 whereby the tenants are currently renovating the rented retail. The upgraded mall are expected to improve the rental income and contribution towards the revenue as the occupancy rate is gradually increasing. Moving forward, The Group is identifying a factory to undertake its manufacturing of biomass products. Surveys are being carried out to determine a suitable location to carry out the manufacturing activities.

Meanwhile, the Group is persistently identifying suitable business opportunities to venture into property investment, construction and other feasible development project, where these businesses are expected to contribute positively to the Group performance. Barring any unforeseen circumstances, the Directors expect to achieve better financial results of the Group in the coming years as compared to previous year. 

From above we can see under new shareholder and management, NICORP really moving in right direction. Both shareholder and management really putting their effort to turn around the company. 

Now let us take a look on NICORP latest quarter financial results.

Wah .... EPS 3.52sen. That mean NICORP now trade at P/E 2.7x. If NICORP trade at P/E 10x, mean share price should worth 35sen !!!

How NICORP technically ??

NICORP (4464)

An important development took place on 13 January 2017 where the price of NICORP broke the resistance of 0.09. This breakout was accompanied by a higher than average traded volume which shows the enthusiasm of the traders to push the price higher and past this resistance hence giving a higher probability of a successful breakout.

Kota Kinabalu: Naim Indah Corporation Berhad Group or one of its companies is set to venture into the satellite business to provide telcos in Malaysia better coverage and content service.

Telcos are pressured by the government to reduce their Internet broadband pricing and increase their reach as well as speed.

CEO Dato' Sri Alex Siaw told Daily Express that a collaboration agreement was signed in China last Nov 4.

"We are now in the process of negotiation for the final agreement. We hope to finalise the agreement for signing by Nov 30."

The future direction involves providing better telco services via satellite transmission for more remote areas where the setting up of land-based transmission towers is not cost effective.

The Malaysian authority proposed considering Australian satellite services but Naim Indah is eyeing China's satellite services which is more modern in technology, with better synch in timing. China plans to build a space-based information network that will provide global coverage.

China will put 156 communications satellites into low Earth orbit, at an altitude of 160 to 2,000km.

Each satellite of the network will be able to transmit 500 mega-bytes of data per second.

Before 2019, four satellites will have been put into space to conduct trial operations.

The rest will follow in 2019 and 2020, ensuring that the whole network will be built before 2021.

When it becomes operational, users around the world will be able to connect with broadband Internet anytime and anywhere, even from on board an aircraft or a ship or in a remote area.

Yang Yuguang, secretary of the International Astronautical Federation's Space Transportation Committee, said that most of the world's communications satellites today operate in the geosynchronous orbit at about 36,000km above Earth.

"The prospect that the satellites will operate in low Earth orbit will give them a lower probability of data transmission delays," he said. "That will strongly facilitate users' access to the Internet around the globe."

Chinese Internet giants such as Baidu Inc and Alibaba Group Holding Ltd, as well as State-owned telecom companies like China Telecom, have explored cooperation opportunities.

Dato’ Sri Alex Siaw Swee Hin, also known as the Managing Director and Chief Executive Officer (CEO) of Naim Indah Corporation Berhad (NICORP), is an entrepreneur active in the world of real estate. In the interview with <Money Compass>, he shares his journey as an entrepreneur and entry into the property sector, in particular how he created his own blue ocean market.

Dato’ Sri Alex, whose humble beginnings can be traced back to a small and rural village called ‘Titikong’ in Chinese in the district of Jelebu, Negeri Sembilan, attributes the key to his success to his father’s insistence on providing his four children with a good higher education.

“Normally, a family could only afford to send one child per household in the rural areas to further his or her studies. Although my father was a rubber tapper, he worked tirelessly to raise all of us up and ensured that my brothers and sisters receive our education in the city. This has not only expanded our horizon but also helped to shape our future,” he recalled.

The early part of his career saw him starting out in foreign lands, especially in emerging markets and third world nations. He was engaged mainly in trading, manufacturing and the energy related businesses. In Myanmar, for instance, he was involved in the production of soft drinks, the power plant business and trading of chemical products besides doing some trading related businesses in Vietnam.

Explaining some of the factors that led him to divest from overseas businesses and return home to Malaysia in 2012, Dato’ Sri Alex said, “Although I have a number of investment projects in Malaysia, I was just a joint-venture investor most of the time and had allowed my other local partners to take the lead.

 “My primary reason to return was driven by the desire to be close to my family and children who were fast growing up into their adolescent years.”

The entrepreneur spirit within him enabled him to see the business opportunities around him, which subsequently led him to acquire public listed company, Naim Indah Corporation Berhad (NICORP), which was later appointed the project management consultants by its developers for the Gateway Klang project in Selangor worth RM 1.2 billion and Likas Boulevard in Kota Kinabalu, Sabah worth RM 1.3 billion.

Dato’ Sri Alex Siaw Sween Hin, also known as the Managing Director and Chief Executive Officer (CEO) of Naim Indah Corporation Berhad (NICORP), shares his journey as an entrepreneur and his entry into property sector.

Dato’ Sri Alex was designated as the Managing Director and Group Chief Executive Officer (CEO) on 26th November 2014, which gave him full control of the company’s operations and where he made several drastic changes, which included replacing its entire staff force. Under Dato’ Sri Alex’s leadership, the transformation of NICORP put into motion. He charted a business strategy that was to transform the company’s existing business model which was suffering from a decline in the logging business to one that is now focused on the real estate. NICORP had successfully made profit within a year after the transformation.

Summarizing his past experiences, Dato’ Sri Alex advised younger generations to be hardworking and conscientious in order to earn trust. These are his motto in life. If others work for 10 hours, we must work for 12 hours. We must be working harder than those who are more excellent than us. Dato’ Sri Alex also emphasized, “Credibility and integrity are very important. A person without these values will lose his foundation in life.”