The last transacted market price of PICORP Shares on 20 March 2023 (being the date of the announcement of the SBB Mandate) was RM0.115. The last transacted market price of PICORP Shares on LPD was RM0.115. (Source: wsj.com)
ORDINARY RESOLUTION 7 - PROPOSED RENEWAL OF SHAREHOLDERS’ MANDATE TO PURCHASE ITS OWN ORDINARY SHARES OF UP TO 10% OF THE TOTAL NUMBER OF ISSUED SHARES IN THE COMPANY “THAT subject always to the Companies Act 2016 (“the Act”), the Constitution of the Company, the Main Market Listing Requirements (“Listing Requirements”) of Bursa Malaysia Securities Berhad (“Bursa Securities”) and all other applicable laws, guidelines, rules and regulations, the Company be and is hereby authorised, to the fullest extent permitted by law, to purchase such number of issued shares in the Company as may be determined by the Directors of the Company from time to time through Bursa Securities upon such terms and conditions as the Directors may deem fit and expedient in the interest of the Company provided that: (i) the aggregate number of issued shares in the Company (“Shares”) purchased (“Purchased Shares”) and/or held as treasury shares pursuant to this ordinary resolution does not exceed ten per centum (10%) of the total number of issued shares of the Company as quoted on Bursa Securities as at point of purchase; and (ii) the maximum fund to be allocated by the Company for the purpose of purchasing the shares shall not exceed the aggregate of the retained profits of the Company based on the latest audited financial statements and/or the latest management accounts (where applicable) available at the time of the purchase, (“Proposed Share Buy-Back”). THAT the authority to facilitate the Proposed Share Buy-Back will commence immediately upon passing of this Ordinary Resolution and will continue to be in force until: (a) the conclusion of the next Annual General Meeting (“AGM”) of the Company following this AGM at which this resolution is passed, at which time the authority shall lapse unless by ordinary resolution passed at the next AGM, the authority is renewed, either unconditionally or subject to conditions; (b) the expiration of the period within which the next AGM of the Company is required by law to be held; or (c) revoked or varied by ordinary resolution passed by the shareholders of the Company at a general meeting, whichever occurs first, but shall not prejudice the completion of purchase(s) by the Company of its own Shares before the aforesaid expiry date and, in any event, in accordance with the Listing Requirements and any applicable laws, rules, regulations, orders, guidelines and requirements issued by any relevant authorities. THAT the Directors of the Company be and are hereby authorised, at their discretion, to deal with the Purchased Shares until all the Purchased Shares have been dealt with by the Directors in the following manner as may be permitted by the Act, Listing Requirements, applicable laws, rules, regulations, guidelines, requirements and/or orders of any relevant authorities for the time being in force: (i) to cancel all or part of the Purchased Shares; (ii) to retain all or part of the Purchased Shares as treasury shares as defined in Section 127 of the Act; (iii) to distribute all or part of the treasury shares as dividends to the shareholders of the Company; (iv) to resell all or part of the treasury shares; (v) to transfer all or part of the treasury shares for the purposes of or under the employees’ share scheme established by the Company and/or its subsidiaries; (vi) to transfer all or part of the treasury shares as purchase consideration; (vii) to sell, transfer or otherwise use the shares for such other purposes as the Minister charged with the responsibility for companies may by order prescribe; and/or
(viii) to deal with the treasury shares in any other manner as allowed by the Act, Listing Requirements, applicable laws, rules, regulations, guidelines, requirements and/or orders of any relevant authorities for the time being in force. AND THAT the Directors of the Company be and are authorised to take all such steps as are necessary or expedient [including without limitation, the opening and maintaining of central depository account(s) under Securities Industry (Central Depositories) Act, 1991, and the entering into all other agreements, arrangements and guarantee with any party or parties] to implement, finalise and give full effect to the Proposed Share Buy- Back with full powers to assent to any conditions, modifications, variations and/or amendments (if any) as may be imposed by the relevant authorities.” Explanatory Notes on Special Business:- Ordinary Resolution 7 The proposed Resolution is intended to allow the Company to renew its existing authorisation to purchase its own shares up to 10% of the total number of issued shares of the Company at any time within the time period stipulated in the Main Market Listing Requirements of Bursa Malaysia Securities Berhad.
Audit Commiee Registrar Auditor Principal Banker Board Risk Management Commiee Head Oce & Registered Oce Remuneration Commiee Company Secretaries Nomination Commiee Lee Weng Chong Chairman > Dato’ Hajjah Rosnani binti Ibarahim > Zaidah binti Mohd Salleh > Kamarul Baharin bin Albakri Lee Weng Chong Chairman > Dato’ Hajjah Rosnani binti Ibarahim Tricor Investor & Issuing House Services Sdn Bhd Unit 32-01, Level 32, Tower A Bangsar South, No 8, Jalan Kerinchi 59200 Kuala Lumpur Telephone No. : 03-2783 9299 Facsimile No. : 03-2783 9222 Dato’ Hajjah Rosnani binti Ibarahim Chairman > Dato’ Dr. Lukman bin Ibrahim > Kamarul Baharin bin Albakri Dato’ Hajjah Rosnani binti Ibarahim Chairman > Lee Weng Chong Ernst & Young PLT 202006000003 (LLP0022760-LCA) & AF No. 0039 Level 23A, Menara Milenium Jalan Damanlela, Pusat Bandar Damansara, 50490 Kuala Lumpur Telephone No. : 03-7495 8000 Zaidah binti Mohd Salleh (MIA 3313) (SSM PC NO. 202008000882) Wong Wai Foong (MAICSA 7001358) (SSM PC NO. 202008001472) Kuan Hui Fang (MIA 16876) (SSM PC NO. 202008001235) AmBank Islamic Berhad
MALAYSIA • Alam Sekitar Malaysia Sdn Bhd • Asma Environmental Consultancy Sdn Bhd • Alam Sekitar Eco-Technology Sdn Bhd 100% 100% 90% INTERNATIONAL • Asma International Sdn Bhd • Saudi Asma Environmental Solutions LLC 100% 100%
PICORP’s major businesses are the provision of environmental monitoring, consultancy, and services and laboratory testing services. PICORP presence in the environmental segment is represented by the operations in Malaysia namely Alam Sekitar Malaysia Sdn Bhd (“ASMA”) and the operations in Saudi Arabia namely Saudi Asma and Asma Advanced Solutions LLC (“Asma Advanced”) while the laboratory testing segment is represented by ALS Technichem (M) Sdn Bhd (“ALS Malaysia”) in Malaysia and PT ALS Indonesia (“ALS Indonesia”) in Indonesia. PICORP provides services to various sectors such as environmental, oil and gas, power, utility, food and pharmaceutical. These clients are mainly private sectors, state governments and municipalities in Malaysia, Indonesia and Saudi Arabia. The environmental monitoring, consultancy and services include monitoring services (air, water, noise, and vibration), monitoring equipment and system integration (continuous air/water quality monitoring system), consultancy services (environmental impact assessment and environmental management plan), and environmental data management and environmental training. The scope of supply and services under environmental monitoring, consultancy and services within Malaysian operations comprises air monitoring, water monitoring, domestic wastewater treatment, and water & industrial wastewater treatment, while Saudi operations focuses more on the supply of public health management and integrated pest management services. In the environmental segment, ASMA maintained its position as Department of Environment (“DOE”)’s Strategic Partner for Environmental Sustainability in 2022. ASMA has been the DOE’s Strategic Partner for Environmental Sustainability since 2016. Laboratory testing services include provision of environmental sampling & testing, food safety testing including halalan toyyiban assurance testing and pharmaceutical & medical devices testing. In the food and pharmaceutical industry, the segments are further broken down into Nutrition and Contaminants. Similarly, in the environmental industry, the segments comprise Air Industrial Hygiene, Environmental Health, Organics and Inorganics, and COVID-19 testing which was newly introduced in FY2021. The COVID-19 testing services comprise human and environmental testing, whereby the business diversifications is contributed by the business agility to respond to the current market need and demand. The laboratory testing segment continues to operate as one of Malaysia’s largest analytical and testing services businesses and our partnerships span across major sectors including environmental, food, pharmaceutical industrial and tribology services. Its presence in the strategic locations in Malaysia comprising 1 hub and 3 spokes makes it accessible to customers. Backed by strong brand presence and outstanding quality services, ALS Malaysia alongside its subsidiary company, ALS Indonesia, are among the top laboratory testing providers in the environmental, food, pharmaceutical as well tribology sectors in Malaysia and Indonesia. ALS Malaysia is also recognised as Makmal Panel Halal Malaysia by the Department of Islamic Development Malaysia (“JAKIM”) and received other recognitions from Kementerian Kesihatan Malaysia (Bahagian Keselamatan Makanan, Air), National Institute of Occupational Safety and Health (NIOSH), BioNexus Partners (BNP) Status Laboratory by Bioeconomy Development Corporation, Ministry of Environment and Water, National Pharmaceutical Regulatory Agency (NPRA) and GMP Plus Registered Laboratory (GMP+) for mycotoxin, heavy metals and pesticides.
the Company will be continuously implementing necessary measures to grow its business amidst the uncertain economic environment. The top measure is to remain thriving through its major business segments which are Environmental Monitoring Consultancy & Services (EMCS) and lab testing services (LTS) in both Malaysia and Indonesia. In Malaysia, EMCS will continue to concentrate on promoting its water and industrial water treatment solutions, venture into environmental training and equipment trading, and focus on environmental monitoring services for strategic clients. In Saudi Arabia, leveraging on its local status as No. 1 Integrated Pest Management (IPM) company received from the Ministry of Municipal and Rural Affairs (MOMRA), the company will continue to prioritise IPM in both public and private sector. This is a very significant mileage as it gives a strong advantage to the company to accelerate its market presence and growth. As for the lab testing services, the company will continue to stay resilient leading the market in Malaysia and Indonesia in the areas of environmental testing, food safety and pharmaceutical testing by introducing new test methods that are accepted by international standard bodies and improving turnaround time for delivery of analysis reports to customers. In parallel, the company will continue implementing various prudent measures in an effort to reduce the cost of doing business and preserving cash flows. Among the initiatives currently implemented include improving the project management effectiveness and efficiency to improve project delivery and cost, adopting and subscribing a customer relationship management (CRM) system to integrate marketing and sales activities. and improve lead management.
Major parts of the environmental monitoring consultancy and services are related directly and indirectly to the provision of essential services such as domestic wastewater treatment, water and industrial wastewater treatment, environmental impact assessment, environmental management plan such as wastewater treatment & solutions and monitoring services for air, water and noise. As the global economy is expected to remain challenging and uncertain, our environmental services have also been impacted by this economic downturn as well as our presence in Saudi Arabia which forecast moderate economic growth of 2.6% in 2023. On the other hand, the impending revision of Water Service Industrial Act as well as the Environmental Quality Act (EQA 1974) on the effluent standard for Palm Oil Mill Effluent may present further opportunities for us to grow our wastewater treatment business and to further promote our aims to be the one-stop solution centre for the wastewater treatment industry offering both solutions for the domestic as well as the industrial segments. In respect of our presence in Saudi Arabia, PICORP, through its subsidiary, Saudi ASMA will continue to provide the public health management i.e. surveillance services for the government agencies namely the municipalities in the area of integrated pest control through the operation and maintenance of the pest laboratory and monitoring of the key performance indicators (KPIs) of the pest control operations, providing an integrated pest management services for private sectors. Saudi ASMA aims to work towards increasing the volume through the development of new products or services such as pursuing pest control consulting and providing chemical free or new technology of pest control solutions to private customers. In addition, the recent collaboration between UEM Edgenta Berhad, South East Asia’s leading Asset Management and Infrastructure Solutions company and a subsidiary of PICORP in Saudi in April 2021, had marked the increasing opportunities to the Group in penetrating new markets as well as expanding the pest control services to other municipalities and private companies within Saudi Arabia. We will also continue to expand our presence in Brunei through a business collaboration with Progressive Impact Technology (B) Sdn Bhd (“PITECH (B)”) to offer our services in respect of environmental services. To date, we have signed a Memorandum of Agreement with PITECH (B)”) to provide the environmental services in the realm of technical support, supply of manpower and equipment including the provision of site engineering services. We believe the environmental industry that we operate in will remain challenging. In the long term, the economy will grow as such demand for these essential services will remain strong. Utilising our network, experience, know-how and technical capabilities, we are confident in securing more projects in these segments locally and abroad in the future.
The laboratory testing services particularly in the food and pharmaceutical segment continue to generate significant revenue for the group post COVID-19 pandemic due to higher demand for laboratory testing. Development in the regulatory landscape particularly in the Food Safety Act 1983, HALAL certification under JAKIM and their Foreign Certification Bodies, DOE’S Quality Act 1947 (“EQA 1974”), DOE’s Guided Self-Regulation 2017 and many others continue to be the key driver in the laboratory testing services business. The Malaysian operations remain focused in existing businesses with continuous enhancement of its operational efficiency through effective cost management, enhance market penetration by improving engagement with clients, price competitiveness and turnaround time. In this regard, environment, food, pharmaceutical industrial and tribology services shall continue to be the main focus for ALS Malaysia in leveraging its strong brand reputation.Apart from that, the Malaysian laboratory testing services also aim to expand its environmental hygiene monitoring services by process and method optimisation through usage of ALS Compass, RAPID methods and onsite kits for faster result. Moreover, the laboratory testing services aims to improve process digitisation as a competitive edge over other local labs to enable better transparency and traceability. Indonesia operations aim towards expanding its Food Safety Analysis business, particularly the microbiology facility and a setup of the food chemistry laboratory in its headquarters in Sentul. Recovery of the Oil and Gas and Mining sector leads to increased spending for environmental compliance. The new requirement for RATA emission testing effective from 2019 creates new environmental testing business opportunities. However, the nationalisation policy of Indonesia’s oil and gas industry may lead us to embark on different approach to grow our business. Nevertheless, we believe that we can strive and secure new projects in this volatile industry.
1 2 3 4 5 6 Zaiyadal Sdn Bhd Citigroup Nominees (Asing) Sdn Bhd Exempt AN for Bank of Singapore Limited (Foreign) Zaid bin Abdullah Kal-Yadaiin Sdn Bhd Zaidah binti Mohd Salleh HLB Nominees (Tempatan) Sdn Bhd 44,875,100 8,769,400 - - - - 800,000 112,000 110,300 6.847 1.338 - - - - 0.122 0.017 0.016 304,370,422* 304,370,422* - - 176,000 - - - - 301,228,622 54,004,900 44,875,100 28,813,078 7,063,400 6,079,600 46.442* 46.442* - - 0.027 - - - - 45.963 8.240 6.847 4.396 1.078 0.928 Note:- * Deemed interest by virtue of his/her interest in Zaid & Zaidah (L) Foundation and indirect interests in respect of the shareholdings held by his/her children pursuant to the Companies Act 2016. ^ Based on the total number of issued shares in the Company excluding 2,628,900 ordinary shares bought back by the Company and retained as treasury shares as at 22 March 2023. As per the Register of Directors’ Shareholdings DIRECTORS’ INTEREST IN SHARES THIRTY LARGEST SHAREHOLDERS 7 8 9 10 11 12 13 14 15 16 Citigroup Nominees (Asing) Sdn Bhd UBS AG Nik Abdul Aziz bin Nik Sulaiman Public Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Yue Guan Sheng (E-SS2/DJA) Apex Securities Berhad IVT PDR 201 Lee Hong Peng Maybank Nominees (Tempatan) Sdn Bhd Pledged Securities Account for Ooi Boon Chai Zaiyadal Sdn Bhd Khaw Tain Guan HSBC Nominees (Asing) Sdn Bhd J.P. Morgan Securities PLC Affin Hwang Nominees (Tempatan) Sdn. Bhd. Pledged Securities Account for Khoo Yik Chou (M01) 4,549,800 4,323,235 4,000,000 3,561,400 2,993,200 2,670,000 2,665,000 2,563,700 2,332,600 2,040,000 0.694 0.660 0.610 0.543 0.457 0.407 0.407 0.391 0.356 0.311
At PICORP, we are committed to achieving the highest standard of corporate governance and transparency. We embrace the culture of doing the right thing where honesty, fairness, and responsibility are valued and expected from all employees at all levels. Integrity and ethics are not only a matter of moral imperative but also one that leads to a smart business. Supported by relevant framework and management policies, we will be persistent with how we conduct ourselves; to ensure we continue to act in an ethical, transparent, and accountable manner.
I was here July 2022 Sept 2022 start moving untill February 2023 WITHOUT ANY GOOD NEWS . It just a goreng.
Coming down in February 2023 and it is just ONLY 2 months ago.
It takes few years before before previous investors to escape alive. * The vol and px movements currently does not indicates any good movements. Very doubtful in very short times will consistently will move again like before.
The IMF said the high economic growth rate in Saudi Arabia will come amid challenges facing advanced economies and the global economy, and in light of the decrease in activity in Russia and China and a decline in US spending levels. It also raised its expectations for the growth of the Saudi economy during the next year 2023 slightly as well. Saudi Arabia’s booming economy: Ho… www.arabianbusiness.com/latest-news/saudi-arabias-economic-insights' target='_blank'>www.arabianbusiness.com/latest-news/saudi-arabias-economic-insights www.arabianbusiness.com/latest-
Indonesia is booming too. Picorp is also already set up subsidiary in Indonesia... It would reap the reward
Indonesia’s nickel boom tests Western green sensibilities www.economist.com/business/2023/04/13/indonesias-nickel-boom-tests-western... Web13 Apr 2023 · It may have been just the start of Indonesia’s clean-energy IPO boom. On April 12th Harita Nickel, a firm that processes the battery metal, pulled off the country’s …
Revenue from Indonesia or saudi could be bigger than msia in years to come.
JAKARTA, INDONESIA (6 April 2022) — Indonesia’s economy is expected to grow by 5.0% in 2022 and 5.2% in 2023 as domestic demand continues to recover, according to a report by the Asian Development Bank (ADB) released today.
“The Indonesian economy briskly rebounded from the downturn in the third quarter and ended 2021 with output higher than in pre-pandemic 2019. Growth was broad-based and should strengthen in 2022 as economic activity continues to normalize,” said ADB Country Director for Indonesia Jiro Tominaga. “Private consumption and investment entered 2022 with a strong momentum, and the third COVID-19 wave should have minimal impact on growth. The Russian invasion of Ukraine, however, if prolonged, could significantly affect inflation and the fiscal balance.”
The Asian Development Outlook (ADO) 2022 says Indonesia’s consumer spending and manufacturing activity have been consistently rising due to the pickup in incomes, jobs, and confidence. Investment is benefiting from expanding demand, improvements in the investment and business climate, and a recovery in credit.
Those nampak picorp's potential would sapu its syer continuously, not many shares available at current price.... Few million rm dah boleh send its price above 20sen
Esg stocks or companies involve in esg biz will flourish etc
European fund managers set to go all in on ESG, survey says 27 Jun 2022 — The PwC survey of 3,354 respondents suggested ESG assets domiciled in Europe could grow to between
Local fund mgrs will play catch up, msia tends to be the laggard.... It will surge sooner or later
European fund managers set to go all in on ESG, survey says 27 Jun 2022 — The PwC survey of 3,354 respondents suggested ESG assets domiciled in Europe could grow
I think,picorp will have Financial analyst bertauliah for coverage soon... Big 4 auditor dah ada, dividend policy 40% dah declared, spore aset mgmt co as second largest shareholder, subsi in Indonesia & saudi dah set up & etc
2020-2022- pandemik, now economy activities restarted, etc , more services required to o clean up n test the environment, pollution, lab test for foods, etc e.g. cancerous material in instant noodles, etc reported
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Good123
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Posted by Good123 > 2023-04-20 15:40 | Report Abuse
The last transacted market price of PICORP Shares on 20 March 2023 (being the date of the
announcement of the SBB Mandate) was RM0.115.
The last transacted market price of PICORP Shares on LPD was RM0.115.
(Source: wsj.com)