harga lelong 7.5sen kini...

https://www.euractiv.com/section/emissions-trading-scheme/news/eu-carbon-price-to-hit-e400-mark-with-90-climate-goal-analysts/

Petronas chief executive Tengku Muhammad Taufik believes the company needs to make tough decisions, which are bound by rationality and practical solutions, as it steps up for decarbonising its systems for the future, while committing to energy security.


‘One person leaving does not change the strategy’: Interim BP chief firm in first public appearance since Bernard Looney departed
Read more
Taufik was speaking at a high-level chief executive panel at the ADIPEC conference in Abu Dhabi, where top executives were deliberating on “actions for a net-zero world”.

More jobs for picorp nowadays.

And currently... Our currency performance is better than Japan Yuan... So it is a good time for them to invest into Malaysia... As in the year end... Our ringgit is expecting to do better as the European need petroleum for energy during winter time

https://www.nst.com.my/news/nation/2023/10/963361/malaysia-set-lead-regional-energy-transition-and-renewable-energy

What’s the social cost of greenhouse gas?
The social cost of greenhouse gases represents the damage created by emitting 1 metric ton of carbon dioxide, methane and other greenhouse gases into the atmosphere.

These greenhouse gases, largely from fossil fuels, trap heat in the atmosphere, warming the planet and fueling climate change. The result is worsening storms, heat waves, droughts and other disasters that harm humans, infrastructure and economies around the world. The estimate is intended to include changes in agricultural productivity, human health, property damage from increased flood risk, and the value of ecosystem services.

By directing agencies to consider those costs when making purchases and implementing budgets, the administration is making it more likely that agencies will purchase products and make investments that are more energy efficient and less likely to fuel climate change.

ESG world, everywhere;)

For India, circular economy has the potential to be upwards of $45 Billion by 2030 and the private sector stands to gain a first-mover advantage to secure green investments for applying circular economy in their operations. And on the other side, corporates in India today faces growing regulator, investor, and consumer pressures of adopting pro-climate practices both domestically and internationally, observes BCG India Managing Director Anirban Mukherjee and Project Leader Tania Banerjee.

“urgent sale” or “desperate seller”, be cool ya, nanti menyesal :)

KUALA LUMPUR (Oct 5): Bursa Malaysia Bhd has launched the national voluntary carbon market (VCM) handbook to guide local professionals and stakeholders in generating carbon credits that adhere to international standards recognised by the Bursa Carbon Exchange.

Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said as Malaysia shifts towards becoming a lower carbon economy, the VCM handbook is a relevant guide designed to assist entities keen on participating in carbon market project development and Malaysia’s voluntary carbon market.

He said the handbook defines the roles and functions of key entities in Malaysia’s carbon market operations, serving as a reference point for market players.

“With the increasing prominence on carbon offsets and carbon markets globally, it is imperative that Malaysia acts on the nation’s untapped potential by developing its VCM ecosystem and implementing high-quality carbon projects.

“This VCM handbook is a critical step in ensuring Malaysia’s VCM can truly support the country’s net zero journey,” he said at the inaugural Malaysia Carbon Market Forum 2023 here on Thursday, in conjunction with the International Greentech & Eco Products Exhibition and Conference Malaysia.

The VCM handbook is a collaborative effort between Bursa Malaysia and the Malaysian Green Technology and Climate Change Corporation (MGTC), which was initiated through a memorandum of collaboration signed on Feb 20, 2023.

The VCM handbook was developed in consultation with the Ministry of Natural Resources, Environment and Climate Change (NRECC) and various ecosystem participants.

Muhammad Umar also shared that one of Malaysia’s nature-based projects, the Kuamut Rainforest Conservation Project in Sabah, is nearing its first issuance.

“Soon enough, (it is hoped that) our carbon ‘supermarket shelves’ will be stocked with Malaysian products,” he said.

Pursuant to the above, NRECC minister Nik Nazmi Nik Ahmad said Bursa Malaysia is getting ready to auction carbon credits from the Kuamut Rainforest Conservation Project.

The auction date will be announced once Verra, the world’s leading standards setter for climate action and sustainable development, has issued Kuamut’s carbon credits.

“This project is commendable, as it is being verified for a triple gold labelling under Verra’s co-benefit standard of climate, community and biodiversity,” he said.

Nik Nazmi also said the government needs nature-based solutions (NbS), which can provide up to 30% of the mitigation required by 2030 to keep the 1.5°C target in reach.

He noted that the VCM would help mobilise public sector finance towards NbS, particularly in the Global South where it is most urgently needed.

He said many state governments have reached out to his ministry for alignment of carbon policies for forest carbon assets, and the NRECC is doing its best to ensure that these discussions take place.

“I wish to also reiterate that our National Carbon Policy is expected to be ready for implementation this year. It will provide, among other things, guidance on carbon trading at the state level,” he said.

https://www.ft.com/content/56cd8f3d-acf6-4898-9895-bdb15da43f07

Balik 20 to 30sen++ anytime

On Monday, Miti launched the I-ESG Framework, with the aim of accelerating the country's progress towards achieving sustainable development goals, and facilitating the transition towards sustainable practices among manufacturing companies.

The framework is a key enabler of the push towards the net-zero mission, aligning with Malaysia's commitment to reducing greenhouse gases by 45% by 2030, and achieving carbon neutrality (net zero emissions) by 2050.

The framework consists of four pillars, namely standards, financing, capacity building, and market mechanisms. These components are supported by six key enablers, namely stakeholder engagement, human capital and capabilities, digitalisation, technology, financing and incentives, as well as policies and regulations.

Edited BySurin Murugiah

Uptrend otw

https://www.bloomberg.com/news/articles/2023-10-05/citi-raises-china-gdp-forecast-saying-economy-has-bottomed-out

NTA 0.0800
P/B 1.00
RPS 13.75
PSR 0.58
Market Cap 52.6M
Shares (mil) 658.00


8sen to 10sen, total shares available for sale ~RM500K only vs market cap ~RM53mil.... haha ~0.9%

8sen to 10sen, total values@RM500K... ikan bilis jualbeli je... tunggu dan sabar ya

many activities recently... more2come :)

Latest Announcement

Wednesday, 4 Oct 2023
6:01PM
PICORP TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) (Amended)
Friday, 29 Sep 2023
1:22PM
PICORP TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
Monday, 28 Aug 2023
5:37PM
PICORP 1H net profit 1.672 million
Tuesday, 30 May 2023
7:24PM
PICORP Retirement of LEE WENG CHONG As Others
7:23PM
PICORP Redesignation of ROSNANI BINTI IBARAHIM As Others
7:23PM
PICORP Change in Nomination Committee
7:21PM
PICORP Change in Nomination Committee
7:21PM
PICORP Change in Remuneration Committee
7:20PM
PICORP Change in Nomination Committee
7:20PM
PICORP Change in Remuneration Committee
7:20PM
PICORP Change in Remuneration Committee
7:19PM
PICORP Appointment of SYED HISHAM BIN SYED WAZIR As Chairman
7:19PM
PICORP Retirement of ABDUL HAMID BIN SAWAL As Chairman
7:19PM
PICORP Retirement of LEE WENG CHONG As Others
7:13PM
PICORP General Meetings: Outcome of Meeting
7:13PM
PICORP 1Q net profit 0.397 million

at undervalued price @8sen dengan market cap RM53juta, easy for takeover... a small amount for foreigners only due to the weakened value of RM :)

belian dengan ganas dah mau tiba.. just stay cool... enjoy later... okey :)

https://klse.i3investor.com/web/stock/analysis-price-target/7201

Price Target
A price target is an analyst's projection of a share's future price.

Average Target Price, Price Call and Upside/Downside here are derived from Price Targets in the past 6 months.

Last Price

0.08

Avg Target Price

0.28

Upside/Downside

+0.20 (250.00%)

https://klse.i3investor.com/web/stock/analysis-price-target/7201

Retailers Yg mau jual pun dah hampir selesai... masa untuk mengumpul dari retailers miskin yg mau tunai kini je... :)

dah mau memecut anytime... just stay cool & calm...

7201 PICORP PROGRESSIVE IMPACT CORPORATION
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) (Amended)
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
ACQUISITION OF 100% EQUITY INTEREST IN MERIEUX NUTRISCIENCES MALAYSIA SDN BHD
BY ALS TECHNICHEM (M) SDN BHD
You are advised to read the entire contents of the announcement or attachment.
To read the entire contents of the announcement or attachment, please access
the Bursa website at http://www.bursamalaysia.com

04/10/2023 07:00 AM


Ref Code: 202310043000207

https://www.thestar.com.my/business/business-news/2023/10/05/budget-forecast-to-shore-up-ringgit-showing

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS ACQUISITION OF 100% EQUITY INTEREST IN MERIEUX NUTRISCIENCES MALAYSIA SDN BHD BY ALS TECHNICHEM (M) SDN BHD
Amended Announcements
Please refer to the earlier announcement reference number: GA1-27092023-00017

PROGRESSIVE IMPACT CORPORATION BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description ACQUISITION OF 100% EQUITY INTEREST IN MERIEUX NUTRISCIENCES MALAYSIA SDN BHD BY ALS TECHNICHEM (M) SDN BHD
Please refer to the attachment for the details of the announcement.




Please refer attachment below.

Attachments
PICORP - Acquisition of Merieux Nutrisciences Malaysia Sdn Bhd.pdf
166.2 kB

Announcement Info
Company Name PROGRESSIVE IMPACT CORPORATION BERHAD
Stock Name PICORP
Date Announced 04 Oct 2023
Category General Announcement for PLC
Reference Number GA1-04102023-00031

Many big projects in picorp's major markets

https://www.bloomberg.com/news/articles/2023-09-30/saudi-arabia-projects-a-21-billion-deficit-in-2024

KUALA LUMPUR: Malaysia’s refined fuel consumption is projected to grow at a much slower pace than anticipated over the next 10 years, averaging at around 1.5 per cent through 2023 to 2032.

BMI, a unit of Fitch Solutions, said although an improving economy together with ongoing fuel subsidies was contributing to a recovery in fuel consumption, fuel demand faces downside pressures from high global oil prices and energy transition initiatives.

It forecast Malaysia's real gross domestic product (GDP) growth would register at 4.2 per cent in 2023 and further improve to 4.42 per cent in 2024.

"The near-term outlook for fuel consumption points to the upside, but the pace of demand growth could slow down in the long term as the government plans to implement policies aiming to cut fuel subsidies and accelerate energy transition initiatives," BMI said in its outlook for Malaysia's energy transition report today.

It noted that the government’s ongoing subsidies now have become a critical issue against the backdrop of elevated global oil and gas prices, putting significant pressure on the government to cover rising costs.

"Though the government has not announced drastic measures to cut subsidies, we can expect a complete reduction in fuel subsidies for high-income groups. Such policy moves could constrain oil demand growth going forward because car ownership tends to be higher amongst high-income households.

"We expect the government’s move to cut fuel subsidies will be met with resistance from industries, especially manufacturing entities which rely heavily on subsidies for industrial production.

"However, we expect the government will continue to keep fuel subsidies for public transportation services to keep transportation costs down," BMI said.

EV penetration rate

BMI estimates demand for electric vehicles (EVs) in Malaysia would far outstrip that of internal combustion engine cars within the 2023-2032 forecast period.

Total EV sales are projected to quadruple in 2023, although the country’s EV penetration rate (EV sales as a percentage of total vehicle sales) will stay at just 1.8 per cent.

However, BMI said the pace of growth in the electrification of the transport industry would face challenges related to the lack of affordable EV models and the slow expansion of charging infrastructure.

"Though the Malaysian government postponed the implementation of the B20 biodiesel programme in 2022, it indicates in its National Energy Transition Roadmap (NETR) that it will establish a B30 mandate for land transport by 2030," it added.

BMI said that given the country’s abundant feedstock of palm oils, biodiesel offers significant opportunities to diversify away from traditional fossil fuels. Unlike biodiesel, Malaysia currently does not promote ethanol for blending with gasoline.

Malaysia has become relatively self-sufficient in refined fuel supply since two greenfield refineries were commissioned between 2021 and 2022. BMI said the refining industry continues to operate at higher utilisation rates to accommodate export opportunities and reduce dependence on imports.

"Against the backdrop of export-oriented the Refinery and Petrochemical Integrated Development (RAPID) and Tanjung Bin refineries operated by Petronas and Vitol, the analysis of fuel trade data indicates Malaysia is emerging as a significant two-way fuel trading country exporting and importing large volumes of refined fuels since 2021," it added. - Bernama

Looking ahead
With the recent launch of the National Energy Transition Roadmap (Part 1) as well as the Hydrogen Roadmap and National Carbon Policy in the latter half of 2023, the Malaysian government has demonstrated a firm commitment towards meeting its targets to achieve net-zero carbon emissions by 2050. Carbon pricing instruments can complement other low-carbon policies, such as renewables and energy efficiency initiatives, by subsidising investment in low-carbon energy development. The federal government has indicated that it is currently considering different types of carbon pricing mechanisms that would be suitable for Malaysia. Such developments are likely to propel the domestic popularity of carbon credits and offsets, which will undoubtedly play an important role in Malaysia’s energy transition. As regulatory developments in this area continue to evolve at a rapid pace, it is crucial for market participants to seek the appropriate advice to avoid claims of greenwashing.

Mark Lim and Faez Abdul Razak are partners in the Finance & Projects practice group at Wong and Partners, a member firm of Baker McKenzie International

bank of spore might increase its stake or find investors to take over, etc... we never know

PICORP Top Shareholders
Total Shares (Quantity)
496.04M
Total Shares (%)
75.72%

Name % Shares Position
Change Value Record Date
ZAIYADAL SDN BHD 46.37 303,893,622 -6,050,000 24.31M 23 Mar 23
BANK OF SINGAPORE LIMITED 8.24 54,004,900 - 4.32M 23 Mar 23
ZAID BIN ABDULLAH 6.85 44,875,100 -3,500,000 3.59M 23 Mar 23
KAL -YADAIIN SDN BHD 4.40 28,813,078 - 2.31M 23 Mar 23
ZAIDAH BINTI MOHD SALLEH 1.34 8,759,400 - 701K 23 Mar 23

sudden surge with impetus like Q3, 2023 results is superb to be announced next month, big project from oil companies like petronas, aramco, and many more. New project given by the govt and other PLCs or MNCs...

M& A like BPLants, etc...

Be an investor in picorp...

I don't think most people realise that our growth rate in the first quarter of 2023 (Q1 2023) is well above the average pre-Covid level. Overall, 2023 gross domestic product (GDP) growth will probably come in between four per cent and five per cent, even if the global environment does not improve.

"The strong growth in employment and wages gives households the income they need to spend more

Selling by cash trapped retailers almost finish, 8-10sen, total value ~RM500K je :)

Best Sell
Position

Price

Volume

Orders

1

0.08

807,600

18

2

0.085

3,193,100

33

3

0.095

907,500

7

4

0.10

809,400

10

Progressive Impact Corp Bhd (Picorp) is buying Mérieux NutriSciences Malaysia Sdn Bhd (MNSB), which provides chemical, microbiological and environmental related analytical testing and consultancy services for the food industry, for RM7.95 million. US-based Merieux Nutrisciences Corp has a 51% shareholding in MNSB while Texchem Resources Bhd owns the remaining 49%. Picorp said its 59%-owned subsidiary ALS Technichem (Malaysia) Sdn Bhd (ALSM) has entered into a shares sale agreement with Merieux Nutrisciences Corp and Texchem for the acquisition. Australian Laboratory Services Pty Ltd owns another 40% stake in ALSM while ALSM director Zaid Abdullah holds 1%.

KUALA LUMPUR (Sept 29): Progressive Impact Corp Bhd (Picorp) is buying Mérieux NutriSciences Malaysia Sdn Bhd (MNSB), which provides chemical, microbiological and environmental related analytical testing and consultancy services for the food industry, for RM7.95 million.

US-based Merieux Nutrisciences Corp has a 51% shareholding in MNSB while Texchem Resources Bhd owns the remaining 49%.

In a filing with Bursa Malaysia on Friday, Picorp said its 59%-owned subsidiary ALS Technichem (Malaysia) Sdn Bhd (ALSM) has entered into a shares sale agreement with Merieux Nutrisciences Corp and Texchem for the acquisition. Australian Laboratory Services Pty Ltd owns another 40% stake in ALSM while ALSM director Zaid Abdullah holds 1%.

Picorp said it will fully fund the purchase consideration using ALSM's internal funds.

Based on its latest audited financial statement for the financial year ended Sept 30, 2022, MNSB recorded a net loss of RM2.66 million. The total equity attributable to the owners of the company stood at RM2.46 million.

"The acquisition is expected to contribute positively to the group's future earnings and earnings per share via the expected earnings contribution to be derived from MNSB," said Picorp.

The acquisition is not subject to the approval of the shareholders of Picorp.

https://www.euronews.com/next/2023/10/03/from-trash-to-treasure-recycling-europes-cast-off-clothes-for-the-fashion-conscious

Buy, n keep till 2024 :)

We forecast a stronger earnings growth of 14% for the FBM KLCI in 2024 versus 5.2% in 2023, driven by the banking, oil and gas as well as power and utilities sectors.

“Valuation-wise, the stronger earnings growth will contribute to 2024 price-earnings (PE) multiple and price-to-book of 12.9 times and 1.2 times versus comparable peers’ 12.6 times and 1.5 times, and the FBM KLCI’s five-year average of 18 times and 1.6 times, respectively,” it said in a report.

TA Research believed the local bourse is grossly undervalued and should benefit from an eventual re-rating, driven by the government’s progressive policies, structural reforms and prospects of continued improvement in the nation’s fiscal standing.

TA Research believed the acid test for the market trajectory could come from Budget 2024, due on Oct 13, as it anticipates high probability the government will have counter cyclical measures to stimulate domestic activities while the inflow of foreign direct investments will sustain hopes for better economic growth next year, thus driving improvements in corporate earnings.

It believed investors have currently priced in a weaker second half for output and instead consider start pricing forward into 2024.

The potential influx of foreign tourists from a global broad-based recovery will be a positive wildcard that could boost the local bourse higher, said iFAST Capital's Khaw.

PETALING JAYA: While the FBM KLCI has been swept lower in September by the downdraft emanating from global markets, analysts believe its final quarter performance will be dependent more on domestic factors like Budget 2024 and consumption.

Take South-east Asia, in particular. A region with the fastest growing economy, the Asean bloc will benefit from rising US-China tensions. As the world’s two largest economies reduce trade and investment between them, we expect them both to redirect economic activity towards asean countries

pjbumi to take over picorp pun ok, share swap or cash or a combination :)

ada sinergi

PJBumi Bhd is an integrated multi-disciplinary engineering and construction services provider. The company is organized into four segments: Manufacturing, involves manufacturing of Fibre Reinforced Plastic (FRP), Reinforced Concrete Sewerage Treatment Plants (?STP?) and Underground Storage Tanks (UST); Construction, Maintenance, and design, involves Construction, maintenance, after-sales support services and design of FRP, STP and UST; Waste management services, provides solid waste management, garbage collection, area cleaning, dump processing and other related activities; Investment, provides investment holding and management services. The company generates maximum revenue from the manufacturing segment.

https://www.malaymail.com/news/malaysia/2023/10/01/pm-education-higher-education-ministries-to-play-role-in-giving-early-financial-literacy-exposure/93860

https://www.thesundaily.my/spotlight/nestle-continues-fight-against-plastic-waste-GD11568952

https://www.scmp.com/comment/opinion/article/3236347/done-right-chinas-new-voluntary-carbon-credit-market-can-be-game-changer

Picorp, next? :)

https://theedgemalaysia.com/node/684474

Eight dams found to be damaged need repair, says ministry | https://www.klsescreener.com/v2/news/view/1211073

https://www.businesstimes.com.sg/esg/singapore-formulate-alternative-fuel-standards-2025

https://www.thesundaily.my/local/tengku-zafrul-iesg-framework-can-lead-to-global-us-12t-market-opportunities-DD11566401

https://www.freemalaysiatoday.com/category/highlight/2023/10/02/non-esg-complying-businesses-may-face-difficulty-getting-loans/

Mode of Purchase
Q3, 2023 results should be excellent.........pay cash :)

100% cash payment with no external financing.
(e) Purchase Consideration
RM7,954,218.00 Cash-Free

7. ASSUMPTION OF LIABILITIES
There are no liabilities, including contingent liabilities or guarantees to be assumed by PICORP arising
from the Acquisition.
8. RATIONALE AND BENEFITS OF THE ACQUISITION
The key benefits with this strategic move include:
(a) Growth and Market Expansion
The acquisition broadens ALSM’s market reach and enables service expansion, providing new
growth opportunities i.e. agrochemical and semi-conductor sectors.
(b) Improved Financial Performance
Following the business integration of MNSB into ALSM’s operation, PICORP anticipate
improved financial performance leading to added value for the shareholders.
(c) Operational Efficiency and Synergy
The integration of technologies, core competencies, strength and resources of both entities
will enable significant synergies that will lead to enhanced operational efficiency and costeffectiveness.
(d) Increased Shareholders’ Value
PICORP is committed to maximising long-term value for shareholders and the Acquisition will
enhance shareholders’ value through increased potential capital appreciation.
(e) Sustainable Growth
PICORP is dedicated to advancing environmentally responsible practices and the Company will
be better positioned to invest in innovation and sustainability initiatives.
9. RISK FACTORS IN RELATION TO THE ACQUISITION
While there are potential benefits and synergies, the Acquisition by ALSM also presents certain inherent
risks. Proactive measures are being taken to mitigate them effectively with focus on risk management
during business integration. The key business risks associated to the Acquisition are:
(a) Market Volatility and Economic Conditions
Any adverse economic events which could impact demand for the MNSB’s services may
negatively impact the financial performance. The Company will have a more diverse service
portfolio thus reducing this risk.
5
(b) Business Integration Challenges
There may be differences in corporate culture, business processes and information systems
which can lead to integration challenges which can impact overall business performance
however leveraging on the experience during the acquisition of ALSM including the expansion
of its business in Indonesia, such challenges can be greatly mitigated through structured
business integration process.
(c) Regulatory and Legal Compliance
Any additional regulatory and legal requirements as a result of the acquisition will be
thoroughly reviewed to ensure compliance thus reducing the potential of non-compliance.
(d) Customer and Supplier Relations
There may be uncertainty among existing customers and suppliers regarding the continuity of
business relationships. Maintaining strong customer and supplier relationships are vital during
the integration process to minimise this risk. Based on ALSM’s good track record in maintaining
its existing customers and suppliers and by integrating the same principles into MNSB’s
business such risks can be greatly mitigated.
10. ESTIMATED TIMEFRAME FOR THE REMITTANCE OF THE RETENTION SUM
Barring any unforeseen circumstances, subject to the fulfilment of all conditions as stipulated in the
SSA and the required approvals (if applicable) being obtained, the remittance of the Retention Sum is
expected to be completed no later than 12 months after the Completion Date.
11. PERCENTAGE RATIO
The highest percentage ratio applicable for the Acquisition pursuant to Paragraph 10.02(g) of the Main
Market Listing Requirements of Bursa Malaysia Securities Berhad is 5.61% which is based on the latest
audited consolidated financial statements of PICORP for the financial year ended 31 December 2022.
Hence, this announcement is made by the Company pursuant to Paragraph 10.06 of the Main Market
Listing Requirements of Bursa Malaysia Securities Berhad.
12. APPROVAL REQUIRED
The Acquisition is not subject to the approval of the shareholders of PICORP.
13. DIRECTORS’ STATEMENT
The Board of PICORP, having considered all aspects of the Acquisition, is of the view that the Acquisition
is in the best interest of ALSM and PICORP.
14. INTERESTS OF DIRECTORS, MAJOR SHAREHOLDERS AND/OR PERSONS CONNECTED TO THEM
None of the Directors, major shareholders and/or persons connected with them have any interest,
direct or indirect, in the Acquisition.
6
15. DOCUMENTS FOR INSPECTION
The SSA is available for inspection at the registered office of PICORP at Suite 5.02, Mercu PICORP, Lot
10, Jalan Astaka U8/84, Bukit Jelutong, 40150 Shah Alam, Selangor Darul Ehsan during normal business
hours from Mondays to Fridays (except public holidays) for a period of three (3) months from the date
of this announcement.
This announcement is dated 29th day of September, 2023.

4. SALIENT TERMS OF THE AGREEMENT
(a) Vendors
i. MNC
ii. TRB
(b) Purchaser
ALSM
(c) Sale Shares
100% of the issued and paid-up capital of MNSB which comprises of 3,000,000 ordinary shares:
i. 1,530,000 ordinary shares held by MNC; and
ii. 1,470,000 ordinary shares held by TRB.
(d) Mode of Purchase
100% cash payment with no external financing.
(e) Purchase Consideration
RM7,954,218.00 Cash-Free, Debt-Free assuming:
i. no related party payables or receivables; and
ii. the existence of sufficient Net Working Capital for normal operations.
(f) Mode of Completing the Acquisition
i. On the Completion Date, the Purchaser will pay RM200,000.00 (“Completion Amount”)
being part of the Purchase Consideration to the Vendors. The beneficial title and
ownership of the Sale Shares shall pass to the Purchaser upon such payment.
ii. The Purchaser shall complete and perfect the transfer and registration of the Sale
Shares in its name immediately after Completion Date. Between Completion Date and
until the Purchaser’s name is entered into the register of members of the Company, the
Purchaser and the Company’s new board of directors shall be fully responsible for the
acts and omissions of the Company (including any liabilities occurring after Completion
Date).
3
iii. On Completion Date, the Parties further agree that the Purchaser shall pay and the
Vendors shall authorise the Stakeholder to retain 5% of the Purchase Consideration
(“Retention Sum”) for a period of twelve (12) months from the Completion Date
(“Expiry Date”) in an interest-bearing account of the Stakeholder’s choice. The
Purchaser shall be entitled to make a demand in writing to the Vendors and the
Stakeholder in relation to the Retention Sum, for the amount which the Purchaser seeks
to claim from the Vendors, to be the losses and/or damages suffered by the Purchaser
as a result of any breach by the Vendors’ Warranties. Stakeholder shall mean Messrs
Azmi & Associates, solicitors for the Purchaser.
iv. After the Expiry Date, the Stakeholder shall upon receipt of the written joint instruction
of the Purchaser and the Vendors, release the Retention Sum (or any balance Retention
Sum) including all interest accrued thereto to the Vendors in the Vendors’ proportion
within fourteen (14) business days from the date of the written joint instruction.
v. The Purchase Consideration shall be adjusted within 90 days following the Completion
Date (i.e.: no later than 28 December 2023) (“Final Consideration”). Upon obtainment
of the Final Consideration pursuant, the Purchaser shall pay the Vendors in the Vendor’s
proportion, an amount to be calculated on the basis of the following formula (“Released
Sum After Price Adjustment”): Released Sum After Price Adjustment = Final
Consideration – Completion Amount – Retention Sum.
vi. Payment shall be made no later than fourteen (14) business days after the date on
which the Released Sum After Price Adjustment is agreed or determined which shall be
on the same date where the Final Consideration is agreed or determined no later than
18 January 2024.
(g) Indemnities by Vendors
If there is a breach of any such representation, warranty, covenant or undertaking, the Vendors
shall indemnify the Purchaser against all claims and losses incurred or suffered by the
Purchaser (including fees, on a solicitor and client basis) arising from the breach of any such
representation, warranty, covenant or undertaking.
5. SOURCES OF FUNDING
The Purchase Consideration will be fully satisfied in cash from the internally generated funds of ALSM.
6. EFFECTS OF THE ACQUISITION
(a) Share Capital
The Acquisition will have no effect on the share capital of PICORP.
(b) Net Assets and Gearing
The Acquisition will not have any impact to the net assets nor gearing of PICORP.
(c) Earnings and Earnings Per Share (“EPS”)
The Acquisition is expected to contribute positively to the future earnings and EPS of PICORP
via the expected earnings contribution to be derived from MNSB.
4
(d) Substantial Shareholders’ Shareholdings
The Acquisition will have no effect on the shareholdings of the substantial shareholders of
PICORP.

Company : PROGRESSIVE IMPACT CORPORATION BERHAD (“PICORP” or “COMPANY”)
Subject : ACQUISITION OF 100% EQUITY INTEREST IN MERIEUX NUTRISCIENCES MALAYSIA
SDN BHD (“MNSB”) BY ALS TECHNICHEM (M) SDN BHD (“ALSM”)
1. INTRODUCTION
The Board of Directors of PICORP wishes to announce that its subsidiary, ALSM, had on 29th September
2023 (“Completion Date”) entered into a Shares Sale Agreement (“SSA”) with Merieux Nutrisciences
Corporation and Texchem Resources Bhd for the acquisition of 3,000,000 ordinary shares representing
100% of the entire issued and paid-up share capital of MNSB at a total cash consideration of
RM7,954,218.00 (“the Acquisition”).
Following the Acquisition, MNSB will become a wholly-owned subsidiary of ALSM.
2. INFORMATION ON ALSM
ALSM is a private limited company incorporated in Malaysia on 12 April 1984. ALSM has an issued share
capital of RM1,000,000 comprising 1,000,000 ordinary shares.
The principal activity of ALSM is chemical testing consultancy services and other services in similar
nature.
The directors of ALSM are:
• Zaid bin Abdullah
• Zaidah binti Mohd Salleh
• Dato’ Dr. Lukman bin Ibrahim
• Dato’ Hajjah Rosnani binti Ibarahim
• Greg Francis Kilmister
• Timothy James Kilmister
• Matthew Graham Masters
The shareholdings structure of ALSM is as below:
Name of shareholders No. of ordinary shares held % of shareholdings
PICORP 590,000 59
Australian Laboratory Services Pty Ltd 400,000 40
Zaid bin Abdullah 10,000 1
3. INFORMATION ON MNSB
MNSB is a private limited company incorporated in Malaysia on 23 May 2000. MNSB has an issued share
capital of RM3,000,000 comprising 3,000,000 ordinary shares.
The principal activity of MNSB is providing chemical, microbiological and environmental related
analytical testing and consultancy services.
The directors of MNSB are:
• Tan Sri Dato’ Seri (Dr) Fumihiko Konishi
• Jin, Chengyu
• Chong Wei Loon
• Franck Gaspard Alexandre Capdevielle
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The shareholdings structure of MNSB is as below:
Name of shareholders No. of ordinary shares held % of shareholdings
Merieux Nutrisciences Corporation (“MNC”) 1,530,000 51
Texchem Resources Bhd (“TRB”) 1,470,000 49
Based on the latest audited financial statement of MNSB for the financial year ended 30 September
2022, the Company recorded Loss After Tax amounted to RM2,656,152. The total equity attributable
to the owners of the Company is RM2,457,522.