Hah :)


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CEO Morning Brief
Mlabs to Diversify Into Factoring Industry

edgeinvest
Publish date: Thu, 18 May 2023, 09:06 AM

Mlabs to diversify into factoring industry
KUALA LUMPUR (May 17): Mlabs Systems Bhd, which principally engages in the business of research and development of mobile application solutions, has proposed to diversify its business activities to include factoring and related business activities.

This came after Mlabs completed the acquisition of an entire stake in Ikhlas Al Dain Sdn Bhd in December 2021, which aims to diversify the group’s earnings base and reduce business concentration risk.

Ikhlas has been approved by the Ministry of Finance (MOF) to conduct the business of factoring, development financing, leasing, and building credit since 2011. As an MOF-approved factoring company, Ikhlas is able to collect payment directly from the ministry for invoices factored from government contractors and service providers who are Ikhlas’ main clientele.

Ikhlas' company website showed that its financial products cover both accounts payable and receivable financing and it funds government procurement contracts as well as that from government-linked companies (GLC).

Mlabs’ bourse filing with Bursa Malaysia on Wednesday (May 17) showed that the rationale for the proposed diversification stems from the group facing intense competition in the market and was loss-making for years, including the latest cumulative six-month period ended Dec 31, 2022 (6MFY2023).

“In an effort to further expand its earning bases, Ikhlas serves as an entry point for the group to venture into the factoring industry. Should the proposed diversification be approved by the shareholders of the company, Mlabs is able to expand its revenue stream to include factoring and related business activities,” it said.

In view of the growing demand within the factoring market segment, Mlabs said the proposed diversification is expected to improve the group’s financial performance and would allow the group to be in a better financial footing in the long run.

However, the management of Mlabs remains cautiously optimistic of the long-term prospects associated with the expansion of the group to include factoring as part of its business activities.

Hence, the board anticipates that the proposed diversification will enhance the group’s financial performance and business portfolio moving forward.

The proposed diversification into the factoring business is anticipated to potentially contribute 25% or more of the group’s net profit, and/or result in a diversion of 25% or more of the group’s net assets, said Mlabs.

The diversification proposed is subject to the approval of the shareholders of Mlabs at the EGM.

It should be noted that the factoring business contributed revenue of RM2.63 million, or 23.56% of the group’s total revenue of RM11.01 million, for 6MFY2023, making the segment the second largest revenue contributor after research and development and the assembling segment, which contributed 63.45% or RM7.07 million of the group’s revenue.

For Ikhlas, audited financial results showed the company posting losses after tax (LAT) of RM1.05 million in FY2020, RM295,000 in FY2021 and RM721,000 in FY2022.

Shares in Mlabs settled unchanged at 1.5 sen, translating into a market value of RM22 million.

Source: TheEdge - 18 May 2023

Serius ka? :)

https://theedgemalaysia.com/node/667418

FACTORING SERVICES (IKHLAS AL DAIN)
This segment has been growing rapidly and benefited from steady government spending in procuring
services and supplies for everyday operations. With the government approval of RM32.0 billion in
the 2023 budget to procure recurring services and supplies, Ikhlas is presented with a significant
opportunity to source for vetted government suppliers who require financing assistance to complete
the delivery of their tenders.
Our target customer mainly focuses on MSMEs appointed contractors supplying various goods and services (e.g., agriculture,
cleaning service, F&B, IT, security service, etc) to the federal government and agencies. These customers are perceived to be
more credible and financially stable since they have been vetted by the government to provide the required goods and services.
These contracts also have predefined payment schedules and deliverables, which make them easier for Ikhlas to evaluate and
monitor the repayments, supported by direct payments that have already been assigned to Ikhlas through the e-Perolehan (eP)
platform, thus minimising collection risk.
Our primary focus is on eP-awardees of the federal government contracts from major federal ministries which include the
Ministry of Defence, Ministry of Education, Ministry of Home Affairs of Malaysia, Ministry of Health, Prime Minister’s Office, and
selected government agencies.
Moving forward, the team is studying non-eP-awarded contracts from selected Government-linked companies, public university
institutions, state governments, and statutory bodies. Similar to the eP contracts, the team is targeting short-term (i.e. less than
six (6) months) non-eP contract awardees that all have been approved and allocated yearly budgets for procurement of goods
and services (i.e. Supply contracts entailing delivery of goods such as machinery and equipment, food, etc and service contracts
involving provision of security and cleaning duties among many other recurring services.), thus ensuring that funds are readily
available to pay us upon delivery of contacts. We will identify appropriate public institutions and government agencies that have
a proper accounts payable system in place to secure our interest as the factoring house, thus minimising the potential collection
and performance delivery risks.
Mlabs had on 28 June 2023 diversified and included this factoring service as one of the Group’s core businesses after this business
has contributed more than 25% of the net profits of the Group under Section 10.13 of Chapter 10 Ace Listing Requirements
of Bursa Malaysia Securities Berhad. Furthermore, Mlabs had on 25 October 2023 announced a Rights Issue with Warrants
exercise (refer to page 23) to bolster this segment expansion plan. We are also actively identifying suitable funding from other
avenues to raise more working capital for the same purpose.

INBASE PARTNERS
In FYE 2023, Inbase Partners dealt with a few significant challenges including the adaptation to the
client’s transition from their original desire for a software platform to trade dory gold to Lithium. This
switch required a considerable amount of time and effort especially to accommodate their preferences.
There were also delays from our client in initiating trading activities via our own developed “Catch Markets” commodity trading
platform. Aside from the investment in developing and refining of our products, external factors such as client readiness and
external dependencies also contributed to these delays. Furthermore, the ever-changing crypto market conditions pose constant
risks and challenges. The volatility in the banking sector, specifically relating to the failures of Silicon Valley Bank and Signature
Bank has had a direct impact on the client’s activities with Inbase Partners.
With the demand for Lithium Ore, indicating strong growth potential for Inbase Partners, recent news has also highlighted a
large transaction to secure this resource. The ongoing drive towards green energy has poised an early position and captured a
substantial share of this market.

MOVING FORWARD
Overall, we anticipate that the short and medium-term trend macro environment remains challenging as global economies
continue to seek a sustainable and lasting solution in taming the inflation and rising interest rate and growing geopolitical tension
stemming from ongoing Russo-Ukrainian and Isreali-Hamas conflicts. Coupled with additional concerns about Malaysia lower
than expected gross domestic product results for the second and third quarters of 2023, coupled with a potential increase of
Sales and Service Tax (SST) from 6.0% to 8.0% announced in the federal government’s 2024 budget, businesses will continue
to exercise prudence and selective spending which continues to put pressure towards several of our business segments namely
on Enterprise Systems Integration, Trading, Distribution, Digital Marketing & Event Management business segments.
Nevertheless, we foresee that our Factoring Services, Enterprise System Integrator, Fintech Development, and investment
businesses to remain our main revenue drivers for the Group in the financial year ending 30 June 2024 (“FYE 2024”). These
three business segments have established their customer network and pursuing ongoing business strategies by exploring new
opportunities to secure more projects and contracts.
Domestically, we expect more activities from our factoring services and enterprise system integrator businesses as the Country’s
drive to improve MSMEs and tech venture ecosystem. However, with the proposed increase in SST, we foresee direct products
and services pricing pressure on our enterprise system integrator business due to the higher SST impacting directly on our
software-based solutions and professional services which results in higher acquisition costs by our customers. Our factoring
services will benefit from the federal government’s 2024 budget proposal for the procurement of goods and services remains
at an estimated RM38.2 million or about 9.7% of the total RM393.8 billion, which gives an avenue for our team to engage new
government contractors in this area.
Whilst our overseas-based fintech development and investment business is in the early stage talks with prospective corporate
clients to partner up with our own Catch Markets trading platform to be offered to their clientele.
Our training service and digital mobile application business segments are still in their infancy stage and both business heads have
placed their emphasis on improving their product innovation and service quality while exercising prudence in their expenditures.
We will closely monitor the recent federal government’s 2024 budget presentation and implementation to mitigate potential
impacts against the Group’s overall business activities. A potential areas for us to tap on are the government-approved contractors
and suppliers for the Rumah Mesra Rakyat programme by Syarikat Pembangunan Nasional Berhad (“SPNB”) to offer affordable
housing to low monthly income groups of RM5,000, 5G technology enhancements, and maintenance and upgrade works for
various public institutions.
The Group aims to continuously seek other growth opportunities within domestic markets and all business heads are endeavoured
towards bolstering our market presence to increase sales and customer base in FYE 2024.

Revenue information based on geographical location of customers are as follows:
Group
2023 2022
RM RM
Malaysia 14,702,438 16,076,506
Cayman Islands 7,309,192 4,497,194
Taiwan 481,534 295,351
22,493,164 20,869,051
(b) Non-current assets based on where the assets of core businesses and geographical locations of the key
operating companies, excluding financial instruments defined under MFRS 9, are as follows:
Group
2023 2022
RM RM
Malaysia 43,599,460 42,494,356
Taiwan 6,391,422 8,648,655
Hong Kong 610,418 713,661
50,601,300 51,856,672

Here’s an overview of our business segments within the Group:-
• Investment and holding of
investment properties
• Network Integration
• Data Center Build & Solution
• Cybersecurity
• Collaboration
• Cloud computing &
Co-Location
• Microsoft Solution
• Performance Optimisation
Inbase Partners
• Blockchain & Digital Assets
Advisory Services
• Fintech Technology Research
and Development
• High-Frequency and Quant
Trading Solutions
• Investment Managed
Account Services
• Software Application
Development
• Trading of Precious Metals
• Branding
• Digital Marketing
• Online Media Portal
• Offline Marketing
• Business Events
Organiser
• Seminar and Training
Organiser
• Trading of kitchen
equipment and related
products
• Private fine-dining
services
• Information technology
related services
• E-Commerce
• R&D and Provisioning
of Digital Business Card
(Mobile Application)
• Application and Web
Development
• Invoice Factoring
• Leasing
• Development Finance
• Building Credit
Winelouvre
• Trading of alcohol product

Razif Mohar (“Razif”)
Malaysian | Male | 59
PROFILE OF HEAD OF BUSINESSES – IKHLAS AL DAIN
He acts as Head of Factoring of Ikhlas
Al Dain Sdn. Bhd.. He possesses
a master’s degree in Business
Administration (MBA) from Universiti
Technologi Mara (UiTM). Razif has
over 30 years of experience in the
banking and financial sector. He
started his career in a managerial
position at Maybank as Head of Dealer
& Receivables Financing. During his
tenure at Maybank, Razif and his team
were tasked to perform due diligence
for the bank’s branch operations in
the Philippines and Indonesia. He
also conducted a feasibility study on
automotive financing products for
Maybank in Jakarta, Indonesia. Razif
was one of the pioneers in setting up
Ikhlas Al Dain Sdn. Bhd..

AUDIT COMMITTEE
Chairman
Chuah Hoon Hong
Member
Mejar Dato’ Ismail bin Ahmad (R)
Professor Emeritus Dr. Sureswaran
Ramadass
NOMINATING COMMITTEE
Chairman
Professor Emeritus Dr. Sureswaran
Ramadass
Member
Mejar Dato’ Ismail bin Ahmad (R)
Chuah Hoon Hong
REMUNERATION COMMITTEE
Chairman
Professor Emeritus Dr. Sureswaran
Ramadass
Member
Mejar Dato’ Ismail bin Ahmad (R)
Chuah Hoon Hong
OPTION COMMITTEE
Chairman
Ong Tee Kein
Member
Tan Sik Eek
Chuah Hoon Hong

Share Issued 72.470m
Market Cap RM14.494m@20sen

VWAP:0.2111Avg Vol/Trans:143.75Buy Rate:34%

cash equivalents @31/12/23~ RM50mil, total shares now ~72mil... cash per share~RM50mil/72mil~70sen per share...


the highest cash per share exceeding market price probably hahahaa 3 -4 times higher than current share price hehe

harga purata syer dari 9am sampai kini 21sen+++ wait n see later.

the minority watch dog group should help the minority shareholders of mlabs... prevent the misuse of the cash in mlabs.

hidden hand gang should take it private... now 20sen++, offer to take it private at 30sen++, i think, the minority shareholders would say yes

mlab is so cash rich.... just in the wrong group as the moment

minority shareholders could urge for capital reduction, refund to shareholders

Tunggu banker masuk haha

Tunggu banker masuk haha

Players n banker, same geng ka? Hehe

Macam casino, volatile :)

Joe pun dah naik banyak post share consol. Wait4hidden hand gang gameplay

Share Consolidation
JOE HOLDING BERHAD

Entitlement subject Share Consolidation
Entitlement description CONSOLIDATION OF EVERY 10 EXISTING ORDINARY SHARES IN JOE HOLDING BERHAD ("JOE" OR '"COMPANY") ("JOE SHARE(S)" OR "SHARE(S)") INTO 1 JOE SHARE ("SHARE CONSOLIDATION")
Ex-Date 20 Oct 2023
Entitlement date 23 Oct 2023
Entitlement time 5:00 PM
Financial Year End 31 Mar 2024
Share transfer book & register of members will be to closed from (both dates inclusive) for the purpose of determining the entitlement
a.Securities transferred into the Depositor's Securities Account before 4:30 pm in respect of transfers 23 Oct 2023
b.Securities deposited into the Depositor's Securities Account before 12:30 pm in respect of securities exempted from mandatory deposit
c. Securities bought on the Exchange on a cum entitlement basis according to the Rules of the Exchange.
Number of new shares/securities issued (units)
(If applicable)
Entitlement indicator Ratio
Par Value (if applicable)
Entitlement Details
Company Name Ratio
(New : Existing) Available/Listing Date Fractional Entitlement
JOE HOLDING BERHAD 1.0000 : 10.0000 24 Oct 2023 Round Down / Fraction Disregard

Registrar or Service Provider name, address, telephone no WORKSHIRE SHARE REGISTRATION SDN BHD
A3-3-8, Solaris Dutamas
No. 1, Jalan Dutamas 1
50480 Kuala Lumpur
Wilayah Persekutuan
Malaysia
Tel:03 64133271
Fax:03 64133270


Remarks :
The Share Consolidation involves the consolidation of every 10 JOE Shares held as at 5.00 p.m. on 23 October 2023, being the entitlement date for the Share Consolidation, into 1 JOE Share ("Consolidated Share(s)").

The actual number of Consolidated Shares will be determined based on the total number of issued shares of the Company on the entitlement date for the Share Consolidation.

Fractional entitlements arising from the Share Consolidation, if any, shall be disregarded and dealt with by the Board of Directors in such manner at its absolute discretion as it may deem fit or expedient and in the best interest of the Company.

The Consolidated Shares will be listed and quoted on the Main Market of Bursa Malaysia Securities Berhad ("Bursa Securities") on 24 October 2023, being the next market day following the entitlement date for the Share Consolidation.

The notices of allotment of the Consolidated Shares will be issued and despatched to the entitled shareholders of the Company within 4 market days after the date of listing and quotation of the Consolidated Shares on the Main Market of Bursa Securities.

The Share Consolidation will result in a reduction in the number of JOE Shares available in the market and the trading price of the JOE Shares will be adjusted accordingly in proportion to the basis of the Share Consolidation. The shareholders of the Company are strongly advised to trade cautiously to prevent overselling of their position in respect of their JOE Shares.

This announcement is dated 6 October 2023.

Announcement Info
Company Name JOE HOLDING BERHAD
Stock Name JOE
Date Announced 06 Oct 2023
Category Entitlement(Notice of Book Closure)
Reference Number ENT-06102023-00001
Corporate Action ID MY231006SPLR0001

Profile of Directors
General Tan Sri Dato’ Sri Hj. Suleiman Bin Mahmud RMAF (Rtd)

Malaysian, age 75, Male

Non - Independent Non - Executive Director / Chairman

General Tan Sri Dato’ Sri Hj. Suleiman was appointed to the Board on 14 October 2009. He has joined the Federation Military College in January 1965, and was commissioned into the Royal Malaysian Air Force on 5 August 1965. He did his basic flying training at the RMAF Flying Training School in Alor Setar, graduating in August 1966. He then went on to fly the Alouette III helicopters and in 1967, qualified as a helicopter instructor after completing an instructor’s course in the United Kingdom.



General Tan Sri Dato’ Sri Hj. Suleiman also joined the Federation Military College in January 1965, and was commissioned into the Royal Malaysian Air Force on 5 August 1965. He did his basic flying training at the RMAF Flying Training School in Alor Setar, graduating in August 1966. He then went on to fly the Alouette III helicopters and in 1967, qualified as a helicopter instructor after completing an instructor’s course in the United Kingdom.



General Tan Sri Dato’ Sri Hj. Suleiman has a vast experience as a pilot having flown helicopters, fixed wing transport and fighter aircrafts. He had served as a Squadron Commander of the Sikorsky S-61 Helicopter Squadron and the Dart Herald Transport Squadron. He also flew the C-130H Hercules, the Aermacchi MB-339, the F-5E and the CN-235-220.



Throughout his career, General Tan Sri Dato’ Sri Hj. Suleiman has been assigned to several staff and operational appointments, and of importance was his appointment as the Director of Armed Forces Development Plans in the Malaysia Armed Forces Headquarters. In 1989, he was appointed the Base Commander of RMAF Base, Butterworth, a Fighter Operational Air Base. Later, he was assigned as the Commander of the RMAF Air Training Command. He was then promoted to Brigadier General RMAF and took over command of No. 1 Air Division, an Air Defence (and Fighter) Command. He later moved to the post of Brigadier General Staff (Operations) at the Air Force Headquarters in Kuala Lumpur. On his promotion to Major General RMAF in June 1994, he was appointed as the Chief of Staff Operations and later on, was assigned as the Chief of Staff Policy and Plans. In August 1996, he assumed the post of the Deputy Chief of Air Force, and was upgraded to the rank of Lieutenant General RMAF on the same post, in June 2000.



General Tan Sri Dato’ Sri Hj. Suleiman was promoted to the rank of General RMAF and assumed the appointment of the Chief of the Royal Malaysian Air Force on 11 June 2001. He retired on 4 June 2003 at the age of 56.

Mejar Dato’ Ismail Bin Ahmad (Retired)

Malaysian, age 73, Male

Non-Independent Non-Executive Director

Mejar Dato’ Ismail Bin Ahmad (R) was appointed to the Board on 14 October 2009 as Executive Director of the Company. On 31 December 2019, he was redesignated as Non-Independent Non Executive Director of the Company. He served in the Malaysian Army for 17 years and attended courses both local and overseas and held various appointments in service. In 1983, he joined Perwira Niaga Malaysia (Pernama), a wholly-owned subsidiary of LTAT, a wholesale and international trading company.



His last position in Pernama was Deputy General Manager before he left in 1999. He was the CEO of Odasaja Sdn. Bhd. in December 2002. He is now with Tegap Dinamik Sdn. Bhd. and several other companies, involved in projects, constructions and various infrastructures.

Ong Tee Kein

Malaysian, age 65, Male

Non-Independent Non-Executive Director

Mr. Ong Tee Kein was appointed to the Board on 13 January 2010 as an independent director, re-designated as Executive Director on 15 April 2010 and re-designated as Non-Independent Non-Executive Director on 31 December 2019.



He has several years of experience in industry and consultancy practice. After qualifying as an accountant in the United Kingdom, he joined a management consultancy practice specializing in providing advisory services to governments and international funding agencies. He subsequently joined the corporate advisory division of an international accounting firm and was involved with various corporate restructuring exercises.

(Reuters) - Mlabs Systems Bhd MLBS.KL :
* UNIT ENTERED INTO A JOINT VENTURE AGREEMENT WITH SEACERA
BUILDERS
* JOINT VENTURE TO JOINTLY DEVELOP PIECES OF MALAY RESERVED
LANDS
LOCATED AT MUKIM SUNGAI KARANG

Source text for Eikon: ID:nKLSZb2dh
Further company coverage: MLBS.KL

BRIEF-Mlabs Systems Says HJ. Suleiman Bin Mahmud Rmaf (Rtd) Redesignated Non Executive Chairman

BRIEF-Mlabs Systems Enters Memorandum Of Understanding With LG Electronics (M)

1.5mil shares ++ traded.. if u muliply by 20X like pre=share consol, it is proven effective for share consol to boost liquidity/increase jual beli syer

price b4 consol... 1-1.5sen, if 1 sen = 20sen, if 1.5sen =30sen, 20 shares to 1. if we take the average 20sen +30sen /2 = 25sen ..

wait n see what will happen

why such a support post share consol... interesting as a case study for phd students probably

weighted average price was still 22sen++ from 9am till now

mlab will be a good case study on the impact of share consol for share price... especially all hidden hand stocks. either hidden hand is going to sell its stake or focus on the real biz after the change of govt from muhyiddin and sabri now

too early to judge

hidden hand gang is likely to boost volume n price post-consol to bring back confidence .. wait n see

lepas makin kuat trading actitivity, more n more co with billion of shares akan consol syer hehe

banyak cash lagi mlab haha

CONSOLIDATED STATEMENT OF CASH FLOWS (CONT’D)
Period Ended
31.12.2023
RM’000
(unaudited)
31.12.2022
RM’000
(unaudited)
Financing activities
Advance from directors - 35
Interest paid (151) (81)
Payment of lease liabilities (337) (650)
Proceeds from issuance of shares pursuant to exercise of
Warrants C * -
Net cash used in financing activities (488) (696)
CASH AND CASH EQUIVALENTS
Net changes (10,822) (16,618)
Effects of changes in foreign exchange rate (571) (172)
Brought forward 60,883 66,969
Carried forward 49,490 50,179
Cash and cash equivalents at the end of the financial period comprise the following:
Cash, bank balances and short-term fund 49,490 50,179

lepas consol, total syer tinggal 70mil++ lagi laris jualbeli... haha

sesiapa mau backdoor listing, boleh bincang the hidden hand group

hidden hand boleh jualkan his take at 50sen per share kpd pihak lain... boleh mengundurkan diri, dapat handsome profit.

net asset per share b4 consol = 8.3sen, lepas consol = 20 x 8.3sen = RM1.66 per share kini 22sen - 23sen, how the hidden hand group serap duit retailers hehe

lepas consol, ada news baru akan release untuk boost harga syer ka? hehe

hah, ada news begini pulak

Commentary on Prospects
The Malaysia economy achieved 3.9% GDP growth for the year 2023 despite the challenging external
headwinds throughout 2023; supported by private consumption, recovering tourism industry, and robust
domestic labour market. For the current quarter, we are within our expectation with our financial services, and
ICT and fintech segments contributing over 80.0% of the Group total revenue. Our trading segment also had
achieved better results (about 13.8% of the Group’s total revenue) in this quarter supported by year end festive
season.
Our ICT segment is in final negotiation stage for a major project in One Northern Hub located in Bukit Kayu
Hitam, Kedah, to construct an integrated logistics hub for the Royal Malaysian Customs Department to cater an
annual throughput of 200,000 containers along with the warehouses and cross-dock facilities for cargo
consolidation and container stuffing.
At the same time, the Group will be looking forward to complete the recently approved corporate exercise
application to raise up to RM 34.786million that is intended to boost our financial services segment business
expansion.
The Group remains cautiously optimistic entering 2024 as the Government effort to implement the economy
growth under the Madani Economy Framework. The various implementations from strategic developments and
flagship projects under the 12th Malaysia Plan Mid-Term Review (12MP MTR), New Energy Transition
Roadmap (NETR) and New Industrial Master Plan (NIMP) 2030 will present new opportunities for the Group
to tap on.

hope hidden hand geng cari pembeli secepat mungkin hehe tak boleh manipulasi syer lagi macam dulu e.g. macam muhyiddin / sabri times, bukan? hehe

waiting game saja.... tunggu syed cari pembeli je hehe

sedap, enak, keep some yah!

Strongly believe it would rebound in stage. The worse is over. Now on the profitable path again, on the way up again

Super cheap compared to 7-11.

@goldmanbull

A counter that has been overlooked by market for too long already....

16 hours ago

The price was pressed down till ~9.5sen for private placement previously. :)

Hope to see hidden hand gang exits from cheetah, genuine bizman take over cheetah

Expected to rise in stage.

Maybe, macam anzo , get delisted soon hehe

pERANGKAP YG LUMRAH: right issues, share split, esos kpd pengarah2, private placement at depressed prices, last last consol to make the final killing hehe... dulu bekas pm (muhyiddin & sabri), kini pm anwar... berani manipulasi syer lagi ATAUPUN PAKAI TAKTIK YG SAMA? HEHE