MLABS Systems Berhad and Seacera Group Bhd have entered into a joint venture to develop holiday villas in Kemaman, Terengganu. The project has an estimated gross development value (GDV) of RM156.46 million. The agreement involves Seacera’s wholly-owned subsidiary, Seacera Builders Sdn Bhd (SBSB), and Ikhlas Al Dain Sdn Bhd, an indirect wholly owned unit of MLABS. The development will take place on several plots of freehold Malay Reserve Land totaling 30.17 acres, owned by Ribuan Bakat Sdn Bhd1.

Under the terms of the joint venture, SBSB will pay RM11.5 million to Ikhlas in the form of units developed on the plots to secure the development rights.

Under the JV agreement, SBSB will pay RM11.5 million to Ikhlas in the form of units developed on the plots to secure the plots’ development rights. reflected in mlabs' consol ac...

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As At As At
31.12.2023 30.06.2023
RM'000 RM'000
Note (unaudited) (audited)
ASSETS
Non-current assets
Property, plant and equipment 11,742 13,837
Right-of-use assets 2,296 2,590
Land development rights 11,215 11,215
Investment properties 18,449 18,424
Intangible assets 3,167 4,536
Other investments 5,775 4,725
Finance lease receivables 821 1,387
Trade receivables 69 239
Total non-current assets 53,534 56,953

Tile manufacturer cum property developer Seacera Group Bhd is partnering Ikhlas Al Dain Sdn Bhd, the indirect wholly owned unit of Mlabs Systems Bhd, to develop holiday villas in Kemaman, Terengganu that will have an estimated gross development value (GDV) of RM156.46 million.

In a bourse filing, Seacera said it on Friday (March 25) entered into a joint venture (JV) agreement with Ikhlas via its wholly-owned subsidiary, Seacera Builders Sdn Bhd (SBSB). Ikhlas was in August last year granted sole, exclusive rights by Ribuan Bakat Sdn Bhd to develop several plots of freehold Malay Reserve Land totalling 30.17 acres that Ribuan Bakat owns.

Under the JV agreement, SBSB will pay RM11.5 million to Ikhlas in the form of units developed on the plots to secure the plots’ development rights.

Seacera, said it may obtain financing from any reputable financier for the purpose of financing the development of the project after obtaining approvals from Ikhlas and Ribuan Bakat.

Datuk Seri Abdul Azim Mohd Zabidi, a director of both SBSB and Ikhlas, has abstained himself from any deliberation and decision-making involving the deal, the filing wrote.

The tile manufacturer said the JV represents an opportunity for it to further expand its revenue from property development.

mlabs should just issue free warrants to all shareholders. surely some would exercise it... Rm1.66 NTA, now ~20sen hahaha

actually, mlabs, asset rich including cash, the right issue is not neccessary punya... tak faham niat geng tersebut

post share consol now, NTA RM1.66, current price ~20sen... tak tahu apa strategi hidden hand gang.. mlabs' P/B value, say, 20sen / RM1.66~ 0.12 is the lowest among their listed companies on Bursa. check it out

Better to buy kawan products Dan makan Kat rumah

A TOTAL of 82 compounds and notices were issued to traders of Ramadan bazaars in Kuala Lumpur for selling contaminated food.

Kuala Lumpur City Hall (DBKL) collected 1,060 food samples from various bazaars operating in the city, from March 10 to 29.

30-days Price
Date Price Open High Low Volume
2024-04-04 0.195 0.185 0.205 0.185 1,322,000
2024-04-03 0.185 0.185 0.190 0.180 639,700
2024-04-02 0.185 0.235 0.240 0.180 5,180,500
2024-04-01 0.010 0.010 0.015 0.010 9,377,700
2024-03-29 0.010 0.010 0.015 0.010 9,021,500
2024-03-27 0.010 0.010 0.015 0.010 332,300
2024-03-26 0.015 0.010 0.015 0.010 1,244,500
2024-03-25 0.010 0.015 0.015 0.010 15,269,500
2024-03-22 0.010 0.010 0.015 0.010 1,815,700
2024-03-21 0.010 0.010 0.015 0.010 1,660,500
2024-03-20 0.015 0.010 0.015 0.010 39,641,000
2024-03-19 0.015 0.010 0.015 0.010 3,901,500
2024-03-18 0.010 0.015 0.015 0.010 3,918,600
2024-03-15 0.010 0.010 0.010 0.010 12,000
2024-03-14 0.015 0.010 0.015 0.010 360,000
2024-03-13 0.010 0.015 0.015 0.010 801,500
2024-03-12 0.010 0.010 0.010 0.010 465,000
2024-03-11 0.010 0.015 0.015 0.010 1,552,800
2024-03-08 0.015 0.010 0.015 0.010 2,047,400
2024-03-07 0.010 0.015 0.015 0.010 1,500,200
2024-03-06 0.015 0.010 0.015 0.010 4,195,200
2024-03-05 0.010 0.010 0.015 0.010 642,100
2024-03-04 0.010 0.010 0.015 0.010 1,510,100
2024-03-01 0.010 0.010 0.010 0.010 769,200
2024-02-29 0.010 0.010 0.010 0.010 94,000
2024-02-28 0.010 0.010 0.010 0.010 80,800
2024-02-27 0.010 0.015 0.015 0.010 49,100
2024-02-26 0.015 0.010 0.015 0.010 1,298,000
2024-02-23 0.010 0.010 0.010 0.010 748,000
2024-02-22 0.010 0.010 0.010 0.010 2,200,000
2024-02-21 0.010 0.010 0.010 0.010 466,000
2024-02-20 0.010 0.010 0.010 0.010 0
2024-02-19 0.010 0.010 0.010 0.010 0
2024-02-16 0.010 0.010 0.010 0.010 365,000
2024-02-15 0.010 0.010 0.010 0.010 117,200
2024-02-14 0.010 0.010 0.010 0.010 246,000
2024-02-13 0.010 0.010 0.010 0.010 0
2024-02-09 0.010 0.010 0.010 0.010 1,600,000
2024-02-08 0.015 0.015 0.015 0.010 3,100,300
2024-02-07 0.015 0.010 0.015 0.010 4,148,400
2024-02-06 0.010 0.010 0.015 0.010 3,241,000
2024-02-05 0.010 0.010 0.010 0.010 120,000
2024-02-02 0.010 0.010 0.010 0.010 490,000
2024-01-31 0.015 0.010 0.015 0.010 226,700
2024-01-30 0.010 0.010 0.010 0.010 70,000
2024-01-29 0.010 0.010 0.010 0.010 491,200
2024-01-26 0.015 0.010 0.015 0.010 245,000
2024-01-24 0.010 0.015 0.015 0.010 101,600
2024-01-23 0.015 0.015 0.015 0.015 0
2024-01-22 0.015 0.010 0.015 0.010 1,361,000
2024-01-19 0.010 0.010 0.010 0.010 122,600
2024-01-18 0.010 0.015 0.015 0.010 656,900
2024-01-17 0.010 0.010 0.010 0.010 157,500
2024-01-16 0.010 0.015 0.015 0.010 12,206,200
2024-01-15 0.015 0.010 0.015 0.010 500,400
2024-01-12 0.015 0.010 0.015 0.010 1,000,100
2024-01-11 0.015 0.010 0.015 0.010 6,200
2024-01-10 0.015 0.015 0.015 0.010 500,100
2024-01-09 0.015 0.015 0.015 0.010 492,100
2024-01-08 0.015 0.015 0.020 0.010 64,419,900

Bid 71%
Sell 29%
5 681,200 0.195 0.200 202,000 11
6 94,500 0.190 0.205 307,900 13
17 810,000 0.185 0.210 204,500 6
7 789,700 0.180 0.215 366,700 7
2 700,000 0.175 0.220 200,000 4

nice2watch :0

Time Price Chg Vol
10:31:28 0.200 +0.005 100
10:25:35 0.195 23,500
10:25:09 0.195 26,500
10:09:34 0.195 5,000
10:08:49 0.195 1,700
10:08:06 0.195 100,000
10:07:42 0.195 50,000
10:07:36 0.195 10,000
10:06:44 0.195 100,000
10:06:21 0.195 4,000
10:05:12 0.195 10,000
10:00:09 0.195 11,200
09:53:49 0.195 34,400
09:34:30 0.195 +0.005 30,000
09:22:48 0.190 -0.005 8,000
09:00:00 0.195 2,000

For those looking to try hidden hand stocks, mlabs is the best option based on value and business proposition. Not suggesting to buy it, ya. I really hope this gang bertaubat... dont play2 with kerajaan madani...

But i really cant see the rationale of the gang... right issue, private placement pumped in berpuluh2 juta ringgit... tapi biarkan harga syer at 20sen now walaupun net aset sesaham at RM1.66 after share consolidation. but really if we want to buy a stake, say, 1% ~7.2mil shares, 20sen tak dapat lah hehe

contractors boleh use factoring services offered by mlabs :)

Public infrastructure projects to drive construction sector
NST Thu, Apr 04, 2024 11:36am - 23 hours


KUALA LUMPUR: Public infrastructure projects are expected to drive construction sector contracts in the coming quarters, with sizable projects in the pipeline.

Hong Leong Investment Bank Bhd (HLIB) noted that public contracts in the first quarter of 2024 (1Q24) remained sluggish, decreasing by 3.8 per cent year-on-year (YoY).

However, the investment bank said for the remaining quarters of 2024, it looks forward to the rollout of big ticket infrastructure projects like Penang LRT worth more than RM10 billion, Pan Borneo Sabah Phase 1B (RM15.7 billion), flood mitigation packages (RM11.8 billion), Sabah-Sarawak Link Road (RM7.4 billion), LRT3 reinstatement (RM4.7 billion), KUTS-Green Line, and water scheme projects.

"There are also other basic infrastructure projects to come, funded by the high level of development expenditure of RM90 billion.

"These projects should help drive contract flows in 2024, while the pipeline from industrial projects and data centers remains highly robust.

"Johor has been touted as the fastest-growing data center market in the Southeast Asia region," it said in a note.

Meanwhile, HLIB also said it anticipates further developments on Johor LRT (RM20 billion) and Kuala Lumpur-Singapore high-speed rail (HSR) in the coming months.

It added that the former serves as a critical dispersal system for the incoming Johor Bahru-Singapore Rapid Transit System (RTS), which will be operational in 2027.

HLIB also noted that though there was disappointment over MRT3, its base case is a retender of the project as government priorities state infrastructure developments.

According to HLIB, domestic contract awards to listed contractors totalled RM6.96 billion in 1Q24.

Contracts during the quarter were off to a strong start, driven by private sector jobs, as public contracts contributed approximately 15 per cent of 1Q24 contract flows.

On private sector jobs, it was noted that flows came from commercial and residential development projects, while there were two contracts from the data centre space.

Kalau analyse mlabs accounts , Dana right issue Dan private placement , most of them masih berada dalam sykt... NA per syer rm1.66, zero gearing, dll

Tak Tahu rasional geng tersebut.


3.6sen x 20=72sen per share
Private placement of 241,568,000 Shares at an issue price of RM0.0360 each
which was completed on 14 September 2021

Debt free zero gearing net assets per share rm1.66, profitable Islamic factoringbiz, very tempting indeed hehe

19.5-20sen now. Some saw the valu n potential giving hidden hand gang the last chance haha

shortselling tak dibenarkan bagi mlab..Short Sell Indicator tiada.... ada syer baru boleh sell.. haha.. selling hari pertama selepas syer konsol dah berhenti...yesterday mulai naik pulak hehe wait n see...opportunity for trading, etc probably...

Share Issued72.470m
Market Cap RM14.131m
Net assets per share RM1.66
Zero gearing.

perlu tukar subsector kpd Fintech.. kini buat islamic factoring biz :)

085 MLABMLABS SYSTEMS BHDDetailed StatusActive.Member of Indices-

ISINMYQ0085OO009Stock ExchangeBMListed OnACE MarketSectorTechnologySub-SectorTechnology Equipment

Monthly
Download Data
04/05/2022 - 04/05/2024
Date Price Open High Low Vol. Change %
04/01/2024 0.195 0.010 0.235 0.010 16.51M NaN% (Harga selepas konsol syer)
03/01/2024 0.015 0.010 0.015 0.010 88.76M +50.00% (20sen - 30sen)
02/01/2024 0.010 0.010 0.015 0.010 18.36M -33.33% (20sen - 30sen)
01/01/2024 0.015 0.015 0.020 0.010 181.98M 0.00% (20sen - 40sen)

Tahun ini... gerakan harga secara bulanan, Bulan Jan sampai Aprl 2024 kini :)

MLBS Historical Data
Time Frame
Monthly
Download Data
04/05/2022 - 04/05/2024
Date Price Open High Low Vol. Change %
04/01/2024 0.195 0.010 0.235 0.010 16.51M NaN%
03/01/2024 0.015 0.010 0.015 0.010 88.76M +50.00%
02/01/2024 0.010 0.010 0.015 0.010 18.36M -33.33%
01/01/2024 0.015 0.015 0.020 0.010 181.98M 0.00%

Pagi2 dah ada orang beratur hehe

Beli lwn Jual
1 2,000 0.195 0.195 16,400 3
5 220,800 0.190 0.200 146,000 6
7 510,000 0.185 0.205 236,100 11
6 689,700 0.180 0.210 70,000 3
2 700,000 0.175 0.215 366,700 7

Macam those mau jual post share consol dah jualkan semua... moving up again.... hmm

Date Price Open High Low Volume
Today ??? ????
2024-04-04 0.195 0.185 0.205 0.185 1,322,000
2024-04-03 0.185 0.185 0.190 0.180 639,700
2024-04-02 0.185 0.235 0.240 0.180 5,180,500
2024-04-01 0.010 0.010 0.015 0.010 9,377,700
2024-03-29 0.010 0.010 0.015 0.010 9,021,500
2024-03-27 0.010 0.010 0.015 0.010 332,300
2024-03-26 0.015 0.010 0.015 0.010 1,244,500
2024-03-25 0.010 0.015 0.015 0.010 15,269,500

RSI(14) Neutral 47.5
Stochastic(14) Oversold 12.5
Average Volume (3M) 3,319,900

72mil shares market cap rm14mil+, 10% stake=rm1.4mil, can ask for a seat in the BODs already haha

Share buyback like Alibaba :)

"Alibaba stock: Morgan Stanley notes acceleration in share repurchase rate"

Meanwhile, Morgan Stanley has also observed that Alibaba has maintained its strategy of divesting non-core assets throughout the year.

https://uk.investing.com/news/stock-market-news/alibaba-stock-morgan-stanley-notes- acceleration-in-share-repurchase-rate-432SI-3416234

IDF operations continue in Gaza, terrorist infrastructure eliminated in Lebanon
IDF immediately targeted the structure with a fighter jet and an IAF aircraft, resulting in both the cell's elimination and the destruction of the terrorist infrastructure.
By JERUSALEM POST STAFF
APRIL 4, 2024 11:14
Updated: APRIL 4, 2024 11:40
www.jpost.com/israel-hamas-war/article-795301

'Our blood will not be exploited': Fatah attacks Iran over West Bank chaos
The statement from Fatah came as the Palestinian Authority has asked the United Nations Security Council to vote this month to make it a full UN member.
By REUTERS
APRIL 3, 2024 18:20
Updated: APRIL 3, 2024 20:26
www.jpost.com/israel-hamas-war/article-795222

Nobel Prize laureate: Israel must reoccupy Gaza Strip
At the Table: Prof. Yisrael (Robert) Aumann, who won the Nobel Prize for work on conflict, cooperation through game-theory, said Israel should establish military presence in Gaza.
By ERICA SCHACHNE, MAAYAN JAFFE-HOFFMAN
APRIL 1, 2024 15:14
Updated: APRIL 1, 2024 15:55
www.jpost.com/israel-hamas-war/article-794770

www.youtube.com/watch?v=6QjZ5IXgF9c








Apr 4, 2024 #FMTNews #ZaidIbrahim #DrAkmalSaleh
The former law minister claims when he was charged in 2015, a policeman had lodged the first report.

www.youtube.com/watch?v=IMXEoQvlmQ8 The firebrand Umno-Baru Youth leader, Akmal Saleh spewed hatred (16 March)
What did Anwar do? Nothing!
He may have made a little noise a week after Akmal's initial hate speech. He could have nipped the problem in the bud.
It was only after two arson attacks that Anwar spoke-up... Aiyah...Too little too late!
For the cybertroopers & Akmal fans, this video is based on established news. Don't be in denial.

fighting terrorism kini hehe
NGOs: Bar Akmal, hate preachers from entering East M'sia regions
www.malaysiakini.com/news/701668

small contractors can use the factoring services hahaha a booming msian construction industry 2024

“Given the country’s tight fiscal position, it makes sense for the Malaysian government to prioritise tax collection and subsidy rationalization to bolster the fiscal stance, reinvigorate the economy, and enhance citizens' well-being. Overall, it is anticipated that the M40 and T20 groups will be most affected by subsidies cut and higher tax measures, thereby impacting the Consumer Discretionary sector, while the Construction sector stands to benefit from increased allocation for development and new projects."

closed at 1.82... good ,... ex-div... share buyback, its potentials for privatisation, takeover offer like mamee, oldtown, F&N, munchy and many more

Tak payah right issue untuk islamic factoring biz, just sell off:
Land dev rights RM11.2mil + Inv properties RM18.5mil + Other investments RM5.8mil = ~RM36mil dah....

*Non-current assets (RM'000)
Property, plant and equipment 11,742 13,837
Right-of-use assets 2,296 2,590
Land development rights 11,215 11,215
Investment properties 18,449 18,424
Intangible assets 3,167 4,536
Other investments 5,775 4,725
Finance lease receivables 821 1,387
Trade receivables 69 239

surprisingly, the price has risen to 19.5sen, at one time, reaching 20.5sen traded. greatly undervalued , net assets per share =RM1.66 post share consolidation now... zero debts, gearing level sifar. hahaha

right issue, Bursa could reject, telling the BODs to sell off its investment properties, other investments quoted shares dah cukup bagi factoring biz hehe

MLABS SYSTEMS BERHAD
Company No. 200401014724 (653227-V)
(Incorporated in Malaysia)
CONSOLIDATED INTERIM FINANCIAL STATEMENTS
FOR THE QUARTER ENDED 31 DECEMBER 2023
- 2 -
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As At As At
31.12.2023 30.06.2023
RM'000 RM'000
Note (unaudited) (audited)
ASSETS
Non-current assets
Property, plant and equipment 11,742 13,837
Right-of-use assets 2,296 2,590
Land development rights 11,215 11,215
Investment properties 18,449 18,424
Intangible assets 3,167 4,536
Other investments 5,775 4,725
Finance lease receivables 821 1,387
Trade receivables 69 239
Total non-current assets 53,534 56,953
Current assets
Inventories 1,676 1,501
Finance lease receivables 1,075 959
Trade receivables B15 20,134 11,541
Other receivables, deposits and prepayments 2,769 3,452
Tax recoverable 24 -
Other investments 7,586 -
Cash, bank balances and short-term fund 49,490 60,883
Total current assets 82,754 78,336
Total assets 136,288 135,289
EQUITY AND LIABILITIES
EQUITY
Share capital 110,049 110,049
Reserves 10,434 16,385
Equity attributable to Owners of the Company 120,483 126,434
Non-controlling interests 458 1,471
Total equity 120,941 127,905

Hit 20.5sen today. :)

i think, hidden hand gang should focus on 1 or 2 core biz that r profitable... abandon those unprofitable ventures to bullshit investors previously. For mlabs, fintech -islamic financing & tech related services should be enough to turnaround the company.. Sell off or stop other non-core biz. Kerajaan madani, do hanky-panky, send to jail... bertaubat ya! better late than never. my 2 cents nasihat hehe

ada debate, bolehkah hidden hand gang fokus pada real biz dan tak manipulasi syer untuk fast gain?
Kerajaan Madani bukan kerajaan2 dulu, agak strict, bahaya untuk manipulasi syer untuk quick gain...

wait n see .

:)

4, April 2024, Thursday

*US*
The S&P 500 and Nasdaq closed higher on Wednesday after data showing the U.S. services industry growth slowed further in March, but the advance was limited after Federal Reserve Chair Jerome Powell indicated a cut in interest was still not in sight.

*EUR*
European markets closed higher Wednesday, shaking off some of the negative sentiment seen at the start of the new quarter after euro zone inflation fell more than expected.

*ASIA*
Asia-Pacific markets rebounded following a sell-off in the previous session, as investors digest comments from U.S. Federal Reserve Chairman Jerome Powell. Hong Kong, China and Taiwan markets closed for Qingming festival.

*MALAYSIA*
Bursa Malaysia opened higher on Thursday, supported by bargain-hunting activities especially for telecommunications, consumer products and services as well as financial services shares, following a mixed performance on Wall Street overnight.

*GOLD*
Gold prices raced to a record high yet again on Wednesday, after Federal Reserve Chair Jerome Powell reiterated that recent readings on job gains and higher-than-expected inflation do not materially change the overall picture of economic policy this year.

*Oil*
Crude oil futures on Wednesday clung to recent gains as mounting geopolitical tensions and OPEC+ policy lift prices.

*KLCI*:
1,537.01 (-10.98) (-0.71%)

*DJIA*:
39,126.14 (-43.10) (-0.11%)

*S&P 500*:
5,211.49 (+5.68) (+0.11%)

*NASDAQ*:
16,277.46 (+37.01) (+0.23%)

*FTSE*:
7,937.44 (+2.35) (+0.03%)

*NIKKEI*:
39,451.85 (-387.06) (-0.97%)

*HSI*
16,725.10 (-206.42)(-1.22%)

*HSCEI*
5,774.99 (-85.73) (-1.44%)

*SHANGHAI*
3,069.30 (-5.66) (-0.18%)

*SHENZHEN*:
1,767.96 (-11.73) (-0.65%)

*GOLD*: 2,318.70

*CRUDE OIL*: 89.55

*USD/MYR*: 4.7413

_Source: The Edge, The Star, CNBC, Reuters, MarketWatch & Bloomberg_

*Disclaimer:*
_We have compiled this material with information obtained from sources we believe to be reliable, but we do not make any representation or warranty nor accept any responsibility or liability as to its accuracy, completeness or correctness. It ppl contains general information only on investment matters and the information is subject to change. The material above should not be considered as a comprehensive statement on any matter and should not be relied upon as such. The data presented is for information purposes only and is not a recommendation to buy or sell any securities or adopt any investment strategy. This material is not intended to be relied upon as a forecast, research, or investment advice regarding a particular investment or the markets in general, nor is it intended to predict or depict performance of any investment._

Earnings and EPS
The Proposed Diversification is not expected to have any immediate effect on the earnings of our
Group for the FYE 30 June 2023. However, barring any unforeseen circumstances, the Proposed
Diversification is expected to contribute positively to the future earnings and EPS of our Group in
view of the improved financial performance of Ikhlas for the unaudited 9M FPE 31 March 2023
which recorded a PAT of approximately RM1.09 million

Prospects of our
Group
Our Group’s venture into the Factoring Business via the
Acquisition of Ikhlas is intended to provide a new recurring income
stream as it provides our Group immediate access into the
Factoring Business. Our Group has embarked on the task of
transforming Ikhlas’ conventional factoring business into a digital-
based factoring entity by leveraging its technology capabilities.
This can create an efficient and streamlined factoring process that
can help clients and businesses access funding quickly and easily.
The inclusion of Ikhlas as part of our Group has also enabled our
Group to potentially benefit from cross-selling opportunities. Our
Group may leverage on our existing client base and offer factoring
service as an additional service to its clients. This can help to
deepen our Group’s relationships with our clients and create
additional revenue streams for our Group.
In light of the favourable outlook of the factoring industry in
Malaysia as set out in Section 4.2 of this Circular and the
performance of the Factoring Business in the latest unaudited 9M
FPE 31 March 2023 as set out in Section 2.1 of this Circular, our
Board is of the view that the Factoring Business will contribute
positively to our Group’s revenue and profitability in the future.

Rationale for the
Proposed
Diversification
The Proposed Diversification is part of our Group’s plan to
diversify our business activities and to provide another stream of
revenue to reduce our Group's dependencies on our existing core
business in our Research and development, and assembling of
mobile application solutions. In an effort to further expand our
earning bases, Ikhlas serves as an entry point for our Group to
venture into the Factoring industry.
Our Group has identified the Factoring Business to diversify its
business activities mainly due to factors such as, growing demand
for the factoring services in Malaysia and relevant experiences of
our key management personnel, as detailed in Section 3 of this
Circular.

Board of Directors
General Tan Sri Dato’ Sri Hj. Suleiman Bin Mahmud RMAF (Rtd) (Non-Independent Non-Executive
Director/Chairman)
Tan Sik Eek (Executive Director)
Chuah Hoon Hong (Independent Non-Executive Director)
Professor Emeritus Dr. Sureswaran Radamass (Independent Non-Executive Director)
Karina Binti Idris Ahmad Shah (Independent Non-Executive Director)
Mejar Dato’ Ismail Bin Ahmad (R) (Non-Independent Non-Executive Director)
Ong Tee Kein (Non-Independent Non-Executive Director)

Hui Kiat Bin, a Malaysian aged 50, graduated with a Bachelor Degree in Law from
University of Wales College of Cardiff (UWCC) in 1995. He was appointed as the Chief
Executive Officer of Mlabs on 1 October 2021.
In January 1996, he started his career as a senior IT specialist in IBM Malaysia Sdn Bhd.
He was responsible in System Engineering in AS/400 and Netfinity x86 Intel Servers, and
repairment for Thinkpad Notebook. In January 2000, he was promoted as ASEAN techline
team lead and responsible for regional pre-sales support for AS/400, Netfinity x86 Intel
Servers, Websphere and Lotus Domino.
In July 2002, he left IBM Malaysia Sdn Bhd and joined Microsoft Malaysia Sdn Bhd in
August 2022 as a senior manager and had his career advancement throughout the years and
became the Head of client partner and employee satisfaction in January 2005, wherein he
was responsible in support and services of enterprise, commercial, government &
government-linked companies (GLC) clients.
In August 2007, he left Microsoft Malaysia Sdn Bhd and joined Dell Global Business
Center Sdn Bhd in September 2007 as General Manager of Sales for the Global Corporate
Program (GCO) and Large Corporate Account (LCA).
In April 2009, he left Microsoft Malaysia Sdn Bhd and took a break in his career prior to
joining Nippon TT Greater China Group (Dimension Data) in November 2009 as Solution
Sales Director in charge for Microsoft, data center, collaboration, networking and cyber
security. In July 2013, he left Nippon TT Greater China Group (Dimension Data) and joined Storm
Solutions Sdn Bhd as Executive Director, involved in manpower outsourcing and training.
Subsequently in October 2018, he joined Storm Front Pte Ltd as Executive Director,
involved in human resource and payroll outsourcing, and software development. He left the
company in 2021.
With over 25 years of experience in IT and 20 years in senior management roles with
multinational corporations and as an entrepreneur, he brings a wealth of relevant expertise
to our Group.
He is responsible for overseeing the operations of our Group. Mr. Hui is currently also
responsible for the strategic implementation of Ikhlas’ business plans and operations as well
as factoring loan credit review process.

Tan Sik Eek
Tan Sik Eek, a Malaysian aged 47, graduated with a Bachelor Degree in Economics and
Political Science from University of Sydney, Australia in 1997. He was appointed to our
Board on 6 April 2018 and is currently the Executive Director of our Company. 6
In January 2000, he started his career as an Executive in RHB Investment Bank Berhad
and was responsible for advising and execution of corporate finance proposals.
In February 2002, he left RHB Investment Bank Berhad as an Assistant Manager and
joined Devonshire Capital LLC, a regional boutique investment bank headquartered in
Hong Kong as a Manager. He was responsible for advising clients on structuring fund
raising proposals, sourcing potential fund-raising and joint venture opportunities for
clients.
In December 2003, he left Devonshire Capital LLC and joined Value Creation Strategies
Sdn Bhd, a corporate advisory firm based in Kuala Lumpur as a Partner in charge for
Southeast Asia business in January 2004. He was responsible for originating, sourcing and
coordinating potential funding opportunities and execution on the agreed funding terms
and conditions as well as monitoring the performance of the relevant companies post-
funding.
In September 2010, he left Value Creation Strategies Sdn Bhd and joined House of Qin
Ltd, a private equity firm based in Beijing, China as a Partner in October 2010. He was
responsible for originating, structuring and sourcing for potential investment opportunities,
negotiate terms and conditions of investments, post-investment management of investee
companies, as well as setup joint venture opportunities with co-funding and strategic
partners.
In February 2013, he left House of Qin Ltd. Since then, he has been appointed as a
Director of several public companies listed on Bursa Securities, namely Fintec Global
Berhad, NetX Holdings Berhad, Symphony Life Berhad and XOX Bhd as well as our
Company, to provide management strategy, day-to-day operational oversight, fund-raising
and business development planning for the various companies.
With his expertise and experience of more than two decades in the financial industry
ranging from corporate finance advisory to private equity investments, he contributes
strategic insights to Ikhlas’ management team to explore business opportunities. He is
currently serving as one of the Directors of Ikhlas, and is actively involved in factoring
loan credit review process.

MWDG harus fokus pd mlabs untuk melindungi minoriti shareholders... a lot of money is at stake... zero gearing... cash equivalents ~RM50mil.... net aset per syer RM1.66+++ post syer consol now

kalau mlabs tutup semua biz yg rugi, fokus pada islamic factoring, boleh jadi macam papajack or rce nanti hahaha

islamic factoring dah untung bagi tahun 2023... pandainya mau fokus pd islamic ahlong biz hehe

CONSOLIDATED INTERIM FINANCIAL STATEMENTS
FOR THE QUARTER ENDED 31 DECEMBER 2023
- 9 -
A8. Segmental Information (Cont’d)
Business segments (Cont’d)
Period Ended
31.12.2023
ICT and
fintech Trading Factoring Others Elimination Consolidated
RM'000 RM'000 RM'000 RM’000 RM'000 RM'000
Revenue 8,154 1,624 4,140 740 (876) 13,782
Results:
Segment results (2,763) (972) 885 (4,365) 31 (7,184)
Other income 866 109 3 176 (167) 1,379
(Loss)/profit
before tax (1,897) (863) 888 (3,797) (136) (5,805)
Segment assets 43,557 51,708 35,388 175,008 (169,373) 136,288
Segment
liabilities 17,217 52,846 29,547 41,553 (125,816) 15,347