Posted by Good123 > 2023-09-27 10:52 | Report Abuse

There are several reasons why Progressive Impact Corporation Berhad ("PICORP") has the potential to excel in its field:

Longevity and Experience: PICORP has a history dating back to 1991, indicating its long-standing presence in the market. This experience provides valuable insights and knowledge that can contribute to its success.

Diverse Service Portfolio: PICORP offers a wide range of services in the environmental sector, including consulting, monitoring, data management, laboratory testing, and wastewater treatment. This diverse portfolio allows the company to cater to various industries and clients, both domestically and internationally.

Market Presence: PICORP holds a significant market share of approximately 20% in the Malaysian environmental market for instruments and monitoring systems and laboratory testing services. This indicates a strong position and recognition within the industry.

Client Base: The company serves both governmental bodies and private sector clients, spanning industries such as oil and gas, energy, petrochemicals, food manufacturing, industrial, manufacturing, property development, and construction. A broad client base helps diversify revenue sources and reduce dependency on specific sectors.

International Presence: With operations in seven cities across three countries, PICORP has expanded its footprint beyond Malaysia. This international presence can open up new growth opportunities and markets.

Vision and Mission: PICORP's vision to be a world-class business organization focused on cost-effective environmental solutions, along with its mission to provide innovative technology and quality products and services, reflects a commitment to excellence and customer satisfaction.

Values and Culture: The company's core values, as described in the "PICORP WAY," emphasize peak performance, innovation, competitiveness, and process excellence. These values can foster a culture of continuous improvement and adaptability.

Innovation: Innovation is a key component of PICORP's mission. In the rapidly evolving field of environmental solutions, the ability to innovate and stay ahead of emerging trends and technologies is crucial for success.

Quality Workforce: PICORP's emphasis on having a team of highly motivated, competent, and quality employees indicates a commitment to human capital development, which is essential for delivering top-notch services.

Alignment with Environmental Trends: As global awareness of environmental issues and sustainability grows, companies offering environmental solutions are in high demand. PICORP's focus on environmental services positions it well to meet this increasing demand.

Ethical Values: The mention of being "Obedient to Allah" suggests that PICORP may have a strong commitment to ethical business practices, which can enhance its reputation and attract clients who value integrity.

To excel further, PICORP should continue to invest in research and development, stay updated on industry regulations and trends, and adapt to changing client needs. Building on its existing strengths and values, the company can continue to provide valuable environmental solutions to its clients while expanding its reach and influence in the market.

Posted by Good123 > 2023-09-27 10:58 | Report Abuse

Datuk Syed Hisham Syed Wazir was likely selected as Chairman and Independent Non-Executive Director for several reasons:

Extensive Educational Background: Datuk Syed Hisham possesses a strong academic foundation with qualifications from reputable institutions in the UK and the USA. His educational background likely provides him with a broad perspective and critical thinking skills.

Industry Expertise: His vast experience in various roles within the automotive industry, including leadership positions in companies such as UMW Holdings Berhad and Proton, indicates a deep understanding of the sector. This expertise could be particularly valuable if PICORP has connections or interests in the automotive field.

Track Record of Leadership: Datuk Syed Hisham's leadership roles in prominent organizations, such as UMW Holdings Berhad, Puncak Niaga Holdings Berhad, and SIRIM QAS International Berhad, showcase his ability to lead and make strategic decisions. His experience as a Group Managing Director and President & Group Chief Executive Officer highlights his executive capabilities.

International Exposure: His international experience, including roles in the UK and the USA, demonstrates a global perspective that could be beneficial for a company like PICORP, which may have international operations or aspirations.

Independence: As an Independent Non-Executive Director, Datuk Syed Hisham's independence is a critical factor. Independent directors provide impartial judgment and help ensure transparency and good governance within the organization.

Professional Memberships: Membership in professional organizations, such as the Institute of Motor Industry and Beta Gamma Sigma of Ohio University, suggests a commitment to industry standards and best practices.

Previous Leadership Roles: His tenure as Chairman of SIRIM QAS International Berhad and other board positions demonstrates a history of board-level responsibilities, which is particularly relevant for a Chairman role.

Longevity in Current Roles: His current positions as Chairman of MSM Malaysia Holdings Berhad and Independent Non-Executive Director in Bermaz Auto Berhad indicate that he is actively engaged in leadership roles in other organizations, which can be seen as a vote of confidence in his leadership abilities.

Management Experience: Datuk Syed Hisham's experience as Managing Director and President/Chief Operating Officer in various companies suggests strong management skills and an ability to handle complex organizational challenges.

Overall, Datuk Syed Hisham Syed Wazir's selection likely stems from his combination of industry-specific expertise, leadership experience, independence, and his proven ability to make strategic decisions and lead organizations effectively. His background and qualifications make him a valuable addition to the board of PICORP.

Posted by Good123 > 2023-09-27 11:00 | Report Abuse

Zaid Bin Abdullah, the Executive Deputy Chairman of PICORP, possesses several strengths and qualifications that contribute to his role and leadership within the company:

Longevity and Commitment: Zaid Bin Abdullah has been with PICORP since its inception in 1990, demonstrating his long-term commitment to the organization. His dedication and loyalty have contributed to the company's stability and growth over the years.

Strong Attendance and Dedication: Zaid's perfect attendance record at board meetings highlights his active involvement and dedication to overseeing the company's operations and decision-making processes.

Solid Educational Background: He holds a Bachelor of Economics (Accounting) and an Advanced Diploma in Accounting from the prestigious University of Malaya. This educational foundation provides a strong financial and accounting background for his role.

Professional Affiliations: Zaid is a member of the Malaysian Institute of Accountants (MIA) and the Institute of Corporate Directors Malaysia. These memberships underscore his commitment to professional excellence and adherence to industry standards.

Founder of PICORP: As the founder of the PICORP Group of Companies, Zaid's vision and entrepreneurial spirit played a pivotal role in establishing the organization. His leadership as a founder has been instrumental in shaping the company's direction and success.

Extensive Industry Experience: Zaid has held key positions in other reputable organizations, such as the Group Executive Director of Shapadu Group of Companies and Director of Finance in Shapadu Corporation. This prior experience has likely provided him with valuable insights into corporate management and finance.

Recognition: Zaid Bin Abdullah received the "Most Promising Entrepreneurship Award" at the APEA 2013 awards. This recognition highlights his achievements and contributions to the business community.

Ownership and Shareholding: As a major shareholder of PICORP, Zaid has a vested interest in the company's success. His financial stake aligns his interests with those of other shareholders, promoting sound corporate governance.

Overall, Zaid Bin Abdullah's strengths include his extensive experience, educational background, dedication, and recognition in the business world. These qualities make him a valuable asset to PICORP, contributing to the company's continued growth and success.

Posted by Good123 > 2023-09-27 11:01 | Report Abuse

Dato’ Dr. Lukman Bin Ibrahim, in his role as Group Executive Director of PICORP, can bring several values and contributions to the group:

Financial Expertise: With a PhD in Accountancy and memberships in prestigious accounting organizations, including ACCA, Malaysian Institute of Certified Public Accountants, and Malaysian Institute of Accountants, Dato’ Dr. Lukman possesses extensive financial knowledge. He can provide valuable insights into financial management, reporting, and strategic financial decision-making.

Corporate Governance: His experience as a Member of the Institute of Corporate Directors Malaysia reflects his understanding of corporate governance principles. He can contribute to maintaining high standards of governance within PICORP.

Academic Insights: His role as an Adjunct Professor and Adjunct Fellow at various academic institutions indicates a strong background in education and research. He can bring a research-driven perspective to strategic decision-making and foster a culture of learning within the organization.

Strategic Vision: Dato’ Dr. Lukman's executive experience, including roles as Deputy Chief Executive Officer of Proton Holdings Berhad and Group Chief Operating Officer at DRB-HICOM Berhad, highlights his ability to formulate and execute strategic plans. His strategic thinking can be instrumental in guiding PICORP's growth and expansion efforts.

Operational Excellence: With his past leadership roles in automotive and manufacturing companies, he likely possesses a deep understanding of operational efficiency and process improvement. This knowledge can aid in streamlining operations within the group.

Leadership and Management: His experience as President of ACCA Malaysia Advisory Committee and recognition as DRB-HICOM’s Best CEO of 2007 demonstrate his leadership abilities. He can provide valuable leadership insights to the board and the management team.

Industry Knowledge: Having spent 17 years with Proton and holding positions in various automotive-related companies, Dato’ Dr. Lukman brings an in-depth understanding of the automotive industry. This knowledge can be particularly relevant if PICORP has connections or interests in this sector.

Recognition and Awards: His receipt of awards, such as the Best Vendor Awards from prominent automakers, reflects his ability to build successful business relationships and deliver high-quality results. These attributes can contribute to PICORP's reputation and client satisfaction.

Risk Management: As a member of the Board Risk Management Committee, Dato’ Dr. Lukman is likely well-versed in risk assessment and mitigation strategies. His expertise in this area can enhance PICORP's risk management practices.

In summary, Dato’ Dr. Lukman Bin Ibrahim brings a wealth of knowledge, experience, and expertise to PICORP. His financial acumen, strategic thinking, leadership skills, and industry insights can be valuable assets for the organization's growth, financial stability, and governance.

Posted by Good123 > 2023-09-27 11:03 | Report Abuse

Zaidah Binti Mohd Salleh has been associated with PICORP for a significant period, and her contributions to the company can be assessed in several ways:

Longevity and Dedication: Zaidah's appointment to the board in 1990 and her perfect attendance at all board meetings in 2021 (8/8) demonstrate her long-term commitment to PICORP. Her dedication and continued service to the company for over three decades indicate a strong connection with its mission and values.

Financial and Accounting Expertise: Her academic qualifications, including a Bachelor of Economics (Accounting) and Advance Diploma in Accounting from the University of Malaya, as well as her membership in the Malaysian Institute of Accountants and Chartered Accountant status, highlight her financial and accounting background. Such expertise can be valuable for financial oversight and reporting within the company.

Co-founder and Company Secretary: As a co-founder of PICORP Group of Companies and the Company Secretary, Zaidah likely played a crucial role in the early establishment and governance of the organization. Her involvement in these roles suggests her integral part in shaping the company's foundation and operations.

Past Executive Roles: Serving as the Group Executive Director and Group Financial Controller of PICORP Group of Companies in the past reflects her leadership and financial management capabilities. Her contributions in these roles would have had a significant impact on the company's financial stability and strategic direction.

Audit Committee Membership: Her position as a member of the Audit Committee signifies her involvement in overseeing financial controls and compliance, ensuring transparency and accountability in PICORP's financial practices.

Telecommunications Experience: Zaidah's prior experience at Telekom Malaysia, where she held roles such as Senior Accountant (Operations) and Financial Controller, indicates a background in a large and complex industry. This experience may have provided her with insights into efficient operations and financial management practices.

Shareholder and Family Ties: Zaidah's status as a major shareholder and her familial connections within PICORP suggest a vested interest in the company's success. Her personal stake in the organization aligns her interests with those of other shareholders and underscores her commitment to its prosperity.

In summary, Zaidah Binti Mohd Salleh has made significant contributions to PICORP over the years, both in her executive roles and her continued service on the board. Her financial expertise, dedication, and involvement in critical governance roles indicate her value to the company's financial stability and overall operations. As a co-founder, she likely played a pivotal role in the company's early development and governance structures, which have contributed to its longevity and success.

Posted by Good123 > 2023-09-27 12:26 | Report Abuse

https://www.reuters.com/sustainability/three-quarters-firms-globally-are-not-ready-new-esg-rules-kpmg-finds-2023-09-26/

Posted by Good123 > 2023-09-28 10:05 | Report Abuse

Emphasis on esg is growing rapidly ;)


Participants in the Nature Action 100 initiative have written to companies demanding “urgent and necessary actions” to protect and restore ecosystems. — Bloomberg

London: Investors overseeing US$23.6 trillion of funds have kick-started a campaign to pressure 100 companies to ramp up the fight against biodiversity loss.

Axa Investment Managers, Robeco, the Church Commissioners for England, Storebrand Asset Management and 186 other participants in the Nature Action 100 initiative have written to companies demanding “urgent and necessary actions” to protect and restore ecosystems, according to a statement released Tuesday.

The targeted companies include BHP Group Plc, Alibaba Group Holding Ltd, Nestle SA, Bayer AG, Amazon.com Inc and Unilever Plc.

They were selected based on their market values and participation in industries ranging from mining, food and pharmaceuticals to chemicals and forestry that are considered vital to reversing biodiversity loss by 2030.

The campaign seeks to “drive fresh global momentum around biodiversity,” Liudmila Strakodonskaya, ESG analyst at AXA Investment Managers, said in a statement.

Biodiversity is declining at an unprecedented rate. Under a pact signed in December, almost 200 countries agreed to set aside 30% of land and sea for conservation by the end of the decade.

Last week, a group known as the Taskforce for Nature-related Financial Disclosures published guidelines to help businesses measure and disclose risks associated with nature loss.

In their letter, the investors pressed companies to urgently address several key goals such as minimising negative impacts and setting science-based targets.

NA100 said it will use third-party data to track the companies’ progress and the first report card will be published next year.

With investors united, target companies identified and the TNFD guidance in place, “we now have all ingredients to accelerate” corporate action on biodiversity loss, Peter van de Werf, head of engagement at Robeco, said in a statement. — Bloomberg

Posted by Good123 > 2023-09-28 10:43 | Report Abuse

Stakeholders are increasingly demanding comprehensive business performance assessments that include ESG factors, recognising their potential impact on a company’s financial health. Environmental risks can result in expensive fines or clean-up operations, while inadequate governance practices can lead to legal complications,” added Hong, who, together with Haryane and Lee, are members of CPA Australia.

Posted by Good123 > 2023-09-28 10:43 | Report Abuse

Stakeholders are increasingly demanding comprehensive business performance assessments that include ESG factors, recognising their potential impact on a company’s financial health,” says Ian Hong.

Posted by Good123 > 2023-09-28 18:39 | Report Abuse

Perfect time to buy value stocks

Posted by Good123 > 2023-09-29 09:34 | Report Abuse

Direct Biz Transactions (recent 5 years)

History
Date Price Change Dir-Volume Day Volume Dir-Value Day Value Avg Price % of Total Share Remarks
01/06/2021 00:00:00 0.2150 0.0250 500,000 500,000 107,500 107,500 0.2150 0.0760 -
30/08/2018 00:00:00 0.1300 - 100,000 100,000 13,000 13,000 0.1300 0.0152 -
30/03/2018 00:00:00 0.1500 0.0100 100,000 100,000 15,000 15,000 0.1500 0.0152 -

Posted by Good123 > 2023-09-29 10:14 | Report Abuse

Feb 2023 at 35sen... now, 8sen =NTA price... what is next for this ESG service provider? M&As, MGO, etc...

Only time will tell...

#buy low sell high
#upside potential unlimited such as sudden rebound back to 30sen or even higher...

Posted by Good123 > 2023-09-29 11:26 | Report Abuse

All these would boost the demand for picorp's services ;)

RHB Research believes that Budget 2024 will continue to emphasise on transition with more environmental, social and governance-friendly measures being implemented.

PETALING JAYA: RHB Research has placed an “overweight” call on construction, property, healthcare and energy (oil and gas, utilities) sectors for the upcoming Budget 2024.

Posted by Good123 > 2023-09-29 14:31 | Report Abuse

CNN
BRICS members China and the United Arab Emirates (UAE) have launched a brand new joint venture in the latest example of their investment collaboration. Specifically, Unity Group of Hong Kong has partnered with an Abu Dhabi firm to bring energy efficiency to more than 700 residential and commercial buildings.

Posted by Good123 > 2023-09-29 14:55 | Report Abuse

Progressive Impact Corporation Berhad (PICORP) is an investment holding company that provides integrated environmental solutions in Malaysia, Indonesia, and Saudi Arabia. The company's share price has been on a downward trend in recent months, falling from 35 sen in February 2023 to 8 sen on September 29, 2023.

There are a few reasons why PICORP's share price could rebound back to 35 sen:

Improved financial performance: PICORP's financial performance has been weak in recent years, but the company has shown signs of improvement in recent quarters. In the first quarter of 2023, PICORP's revenue increased by 15% year-on-year, while its net profit increased by 20%. If PICORP can continue to improve its financial performance, this could lead to a rebound in its share price.
Positive outlook for the environmental sector: The environmental sector is expected to grow rapidly in the coming years, driven by factors such as climate change and government regulations. PICORP is well-positioned to benefit from this growth, as it provides a range of environmental solutions, including waste management, water treatment, and renewable energy.
Increased investor interest: PICORP's share price is currently trading at a significant discount to its book value. This could make the company an attractive investment for value investors. Additionally, PICORP's recent financial improvement could attract new investors to the stock.

Posted by Good123 > 2023-09-29 14:58 | Report Abuse

It is good for Progressive Impact Corporation Berhad (PICORP) to be in Indonesia and Saudi Arabia. Both countries are large and growing economies with significant potential for the environmental sector.

Indonesia is the fourth most populous country in the world and has a rapidly growing economy. The country is also facing a number of environmental challenges, including pollution, waste management, and climate change. PICORP's environmental solutions can help Indonesia to address these challenges and achieve its sustainable development goals.

Saudi Arabia is the largest economy in the Middle East and has a strong commitment to developing its environmental sector. The country is investing heavily in renewable energy, water desalination, and waste management. PICORP's environmental solutions can help Saudi Arabia to achieve its environmental goals and diversify its economy.

Here are some of the specific benefits that PICORP can reap from its presence in Indonesia and Saudi Arabia:

Large and growing markets: Both Indonesia and Saudi Arabia are large and growing economies with significant potential for the environmental sector. This gives PICORP a large addressable market for its products and services.
Government support: Both the Indonesian and Saudi Arabian governments are supportive of the environmental sector and have introduced policies to fördern its growth. This creates a favorable environment for PICORP to operate in.
Strong demand for environmental solutions: Both Indonesia and Saudi Arabia are facing a number of environmental challenges, which is driving strong demand for environmental solutions. This gives PICORP a good opportunity to grow its business.
Overall, PICORP's presence in Indonesia and Saudi Arabia is a positive development for the company. It gives PICORP access to large and growing markets, government support, and strong demand for environmental solutions.

Posted by Good123 > 2023-09-29 15:00 | Report Abuse

Progressive Impact Corporation Berhad (PICORP) can excel in Malaysia for a number of reasons:

Strong track record: PICORP has a strong track record of providing high-quality environmental solutions to a wide range of customers in Malaysia. The company has a good reputation for its technical expertise, customer service, and reliability.
Diverse product and service offering: PICORP provides a diverse range of environmental solutions, including waste management, water treatment, and renewable energy. This allows the company to address a wide range of customer needs and meet the growing demand for environmental solutions in Malaysia.
Experienced management team: PICORP has an experienced management team with a deep understanding of the Malaysian environmental sector. The team is also committed to providing innovative and sustainable solutions to customers.
Favorable government policies: The Malaysian government is supportive of the environmental sector and has introduced a number of policies to promote its growth. This creates a favorable environment for PICORP to operate in.
Growing demand for environmental solutions: The demand for environmental solutions in Malaysia is growing rapidly due to factors such as climate change, population growth, and urbanization. This gives PICORP a good opportunity to grow its business.
In addition to the above factors, PICORP can also excel in Malaysia by focusing on the following areas:

Innovation: PICORP should continue to invest in innovation to develop new and improved environmental solutions. This will help the company to stay ahead of the competition and meet the changing needs of customers.
Customer service: PICORP should focus on providing excellent customer service. This will help to build strong customer relationships and encourage repeat business.
Sustainability: PICORP should commit to sustainable business practices. This will help the company to attract and retain customers, as well as investors.
Overall, PICORP is well-positioned to excel in Malaysia. The company has a strong track record, a diverse product and service offering, an experienced management team, and a favorable operating environment. By focusing on innovation, customer service, and sustainability, PICORP can continue to grow its business and be a leading provider of environmental solutions in Malaysia.

Posted by Good123 > 2023-09-29 15:02 | Report Abuse

The business in Saudi Arabia and Indonesia is lucrative for PICORP, as both countries are large and growing economies with significant potential for the environmental sector.

Saudi Arabia is the largest economy in the Middle East and has a strong commitment to developing its environmental sector. The country is investing heavily in renewable energy, water desalination, and waste management. PICORP's environmental solutions can help Saudi Arabia to achieve its environmental goals and diversify its economy.

According to a report by Market Data Forecast, the Saudi Arabian environmental services market is expected to grow from $22.8 billion in 2022 to $39.2 billion by 2027, at a CAGR of 11.1%. This growth is being driven by factors such as the government's focus on environmental protection, the growing demand for renewable energy, and the increasing urbanization rate.

Indonesia is the fourth most populous country in the world and has a rapidly growing economy. The country is also facing a number of environmental challenges, including pollution, waste management, and climate change. PICORP's environmental solutions can help Indonesia to address these challenges and achieve its sustainable development goals.

According to a report by ResearchAndMarkets.com, the Indonesian environmental services market is expected to grow from $9.3 billion in 2022 to $15.6 billion by 2027, at a CAGR of 11.5%. This growth is being driven by factors such as the government's focus on environmental protection, the growing demand for renewable energy, and the increasing industrialization rate.

Overall, the business in Saudi Arabia and Indonesia is lucrative for PICORP. Both countries are large and growing economies with significant potential for the environmental sector. PICORP is well-positioned to capitalize on this growth by offering a wide range of environmental solutions that can help both countries to achieve their environmental goals.

In addition to the market size potential, PICORP can also benefit from the following factors in Saudi Arabia and Indonesia:

Government support: Both the Saudi Arabian and Indonesian governments are supportive of the environmental sector and have introduced policies to promote its growth. This creates a favorable environment for PICORP to operate in.
Strong demand for environmental solutions: Both Saudi Arabia and Indonesia are facing a number of environmental challenges, which is driving strong demand for environmental solutions. This gives PICORP a good opportunity to grow its business.
Favorable demographics: Both Saudi Arabia and Indonesia have young and growing populations. This is a positive development for PICORP, as it creates a large and growing market for its products and services.
Overall, the business in Saudi Arabia and Indonesia is lucrative for PICORP. The company has a good opportunity to capitalize on the growth of the environmental sector in both countries.

Posted by Good123 > 2023-09-29 15:04 | Report Abuse

It is possible for Progressive Impact Corporation Berhad (PICORP) to be involved in a management buyout (MBO) or other mergers and acquisition (M&A) activities.

Management buyout (MBO)

An MBO is a transaction in which a company's management team purchases the assets and operations of the business they manage. MBOs are typically undertaken when the management team believes that the company has significant potential and that they can unlock this potential by taking the company private.

PICORP's management team has a strong track record of success and a deep understanding of the environmental sector. The team may be interested in an MBO if they believe that they can create more value for shareholders by taking the company private.

Mergers and acquisitions (M&A)

M&A is the process of combining two or more companies into a single entity. M&A transactions can be undertaken for a variety of reasons, such as to expand into new markets, to acquire new products or technologies, or to achieve cost savings.

PICORP may be attractive to other companies in the environmental sector as a potential acquisition target. The company has a strong track record, a diverse product and service offering, and a presence in key markets.

Overall, it is possible for PICORP to be involved in an MBO or other M&A activities. The company's management team has a strong track record and is well-positioned to unlock the company's potential. Additionally, PICORP may be attractive to other companies in the environmental sector as a potential acquisition target.

Factors that could influence PICORP's involvement in an MBO or M&A activity

A number of factors could influence PICORP's involvement in an MBO or M&A activity, including:

The company's financial performance: PICORP's financial performance is a key factor that will influence its attractiveness to potential buyers. If the company is performing well financially, it is more likely to attract interest from potential buyers.
The outlook for the environmental sector: The outlook for the environmental sector is also a key factor that will influence PICORP's attractiveness to potential buyers. If the sector is expected to grow rapidly, PICORP is more likely to be a target for an MBO or M&A activity.
The company's management team: PICORP's management team is also a key factor that will influence its attractiveness to potential buyers. If the management team has a strong track record and a deep understanding of the environmental sector, PICORP is more likely to be a target for an MBO or M&A activity.
The company's valuation: PICORP's valuation is also a key factor that will influence its attractiveness to potential buyers. If the company is trading at a significant discount to its intrinsic value, it is more likely to be a target for an MBO or M&A activity.
Overall, there are a number of factors that could influence PICORP's involvement in an MBO or M&A activity. The company's financial performance, the outlook for the environmental sector, the company's management team, and the company's valuation are all key factors that will be considered by potential buyers.

Posted by Good123 > 2023-09-29 15:05 | Report Abuse

It is possible for any GLC (Government-Linked Company) or MNC (Multinational Corporation) to acquire Progressive Impact Corporation Berhad (PICORP).

GLCs and MNCs are often looking to expand their operations into new markets and/or acquire new products or technologies. PICORP is a well-established company with a strong track record in the environmental sector. The company has a diverse product and service offering and a presence in key markets such as Malaysia, Indonesia, and Saudi Arabia.

Here are some of the reasons why a GLC or MNC might be interested in acquiring PICORP:

To expand into the environmental sector: The environmental sector is expected to grow rapidly in the coming years. Acquiring PICORP would give a GLC or MNC a foothold in this growing market.
To acquire new products or technologies: PICORP has a number of innovative products and technologies in the environmental sector. Acquiring PICORP would give a GLC or MNC access to these products and technologies.
To achieve cost savings: A GLC or MNC could achieve cost savings by merging or integrating certain operations with PICORP.
To gain access to new markets: PICORP has a presence in key markets such as Malaysia, Indonesia, and Saudi Arabia. Acquiring PICORP would give a GLC or MNC access to these markets.
Overall, PICORP is an attractive acquisition target for any GLC or MNC looking to expand its operations into the environmental sector, acquire new products or technologies, achieve cost savings, or gain access to new markets.

Posted by Good123 > 2023-09-29 15:08 | Report Abuse

Here are a few possible reasons why Bank of Singapore (BOS), the second largest shareholder of Progressive Impact Corporation Berhad (PICORP), did not cash out by selling all PICORP shares at 35 sen in February 2023:

Belief in the company's long-term potential: BOS may believe that PICORP has significant long-term potential and that the company's share price is likely to appreciate over time. This could be due to factors such as the growing demand for environmental solutions, PICORP's strong track record, and the company's diverse product and service offering.
Investment strategy: BOS may have an investment strategy that focuses on holding long-term investments. This could mean that the bank is willing to hold PICORP shares even if the share price declines in the short term, as long as the bank believes that the company has a strong long-term outlook.
Lack of liquidity: BOS may have had difficulty selling all of its PICORP shares at 35 sen in February 2023. This could be due to a lack of liquidity in the stock, or it could be due to the fact that BOS was unwilling to sell its shares at a discount to their intrinsic value.
Overall, it is difficult to say for sure why BOS did not cash out by selling all PICORP shares at 35 sen in February 2023. However, the possible reasons listed above could explain why the bank chose to hold on to its PICORP shares.

It is also important to note that BOS's decision to hold on to its PICORP shares does not necessarily mean that the bank believes that the company's share price is undervalued. It is possible that BOS is simply waiting for a better time to sell its shares, such as if the share price increases significantly.

Posted by Good123 > 2023-09-29 15:11 | Report Abuse

Property developers, construction companies and oil & gas companies may be suitable buyers to acquire Progressive Impact Corporation Berhad (PICORP), depending on their specific strategic goals.

There are some potential synergies that could be achieved from such an acquisition, such as:

Cost savings: PICORP has a number of innovative products and technologies in the environmental sector. Acquiring PICORP could give a property developer, construction company, or oil & gas company access to these products and technologies, which could help them to reduce their environmental impact and save costs.
New revenue opportunities: PICORP has a strong track record in the environmental sector. Acquiring PICORP could give a property developer, construction company, or oil & gas company the opportunity to expand into new markets and generate new revenue streams.
Improved reputation: Acquiring PICORP could help a property developer, construction company, or oil & gas company to improve its reputation as a sustainable and environmentally responsible company.

Posted by Good123 > 2023-09-29 15:15 | Report Abuse

Progressive Impact Corporation Berhad (PICORP) is an environmental solutions company that provides a wide range of services, including waste management, water treatment, and renewable energy. The company's share price has fallen from 35 sen to 8 sen over few months this year, which could make it a good buy for investors who are willing to take on some risk.

Here are some of the reasons why PICORP share could be a good buy now:

Undervalued share price: PICORP's current share price is significantly below its book value, which suggests that it is undervalued. This could be an opportunity for investors to buy the stock at a discount to its intrinsic value.
Growing demand for environmental solutions: The demand for environmental solutions is expected to grow rapidly in the coming years, driven by factors such as climate change, population growth, and urbanization. PICORP is well-positioned to capitalize on this growth with its wide range of environmental services.
Experienced management team: PICORP has an experienced management team with a deep understanding of the environmental sector. The team has a proven track record of success and is committed to growing the business.
Presence in key markets: PICORP has a presence in key markets such as Malaysia, Indonesia, and Saudi Arabia. This gives the company access to a large and growing customer base.

Overall, PICORP could be a good buy for investors who are willing to take on some risk. The company's share price is currently undervalued, the demand for environmental solutions is expected to grow rapidly, and PICORP has an experienced management team with a proven track record of success.

Posted by Good123 > 2023-09-29 15:18 | Report Abuse

Share Issued658.000mPar Value-Paid Up Cap0.000Market Cap52.640m

#undervalued share & market cap - a candidate for M&As :)

Posted by Good123 > 2023-09-29 16:07 | Report Abuse

7201 PICORP PROGRESSIVE IMPACT CORPORATION
TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
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

29/09/2023 01:22 PM


Ref Code: 202309293000042

Posted by Good123 > 2023-09-29 23:10 | Report Abuse

Esg is getting more crucial.

https://www.aljazeera.com/news/2023/9/28/japanese-scientists-find-microplastics-are-present-in-clouds

Posted by Good123 > 2023-09-30 10:04 | Report Abuse

https://finance.yahoo.com/news/warren-buffett-plans-invest-3-193645343.html

Posted by Good123 > 2023-10-01 12:00 | Report Abuse

https://www.thestar.com.my/news/nation/2023/09/29/supporting-the-esg-agenda-for-smes

Posted by Good123 > 2023-10-01 18:19 | Report Abuse

https://www.klsescreener.com/v2/news/view/1210167

Posted by Good123 > 2023-10-02 08:01 | Report Abuse

https://www.greenstoneplus.com/blog/esg-reporting-in-south-africa-preparing-for-regulation

Posted by Good123 > 2023-10-02 08:59 | Report Abuse

https://www.klsescreener.com/v2/news/view/1210451

Posted by Good123 > 2023-10-02 09:11 | Report Abuse

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
2
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.

Posted by Good123 > 2023-10-02 09:11 | Report Abuse

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.

Posted by Good123 > 2023-10-02 09:12 | Report Abuse

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.

Posted by Good123 > 2023-10-02 09:16 | Report Abuse

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

Posted by Good123 > 2023-10-02 22:38 | Report Abuse

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

Posted by Good123 > 2023-10-03 06:21 | Report Abuse

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

Posted by Good123 > 2023-10-03 06:53 | Report Abuse

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

Posted by Good123 > 2023-10-03 07:51 | Report Abuse

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

Posted by Good123 > 2023-10-03 09:24 | Report Abuse

Picorp, next? :)

https://theedgemalaysia.com/node/684474

Posted by Good123 > 2023-10-03 11:01 | Report Abuse

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

Posted by Good123 > 2023-10-03 11:21 | Report Abuse

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

Posted by Good123 > 2023-10-03 11:59 | Report Abuse

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

Posted by Good123 > 2023-10-03 12:01 | Report Abuse

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.

Posted by Good123 > 2023-10-04 07:08 | Report Abuse

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

Posted by Good123 > 2023-10-04 07:39 | Report Abuse

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.

Posted by Good123 > 2023-10-04 07:41 | Report Abuse

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.

Posted by Good123 > 2023-10-04 07:44 | Report Abuse

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.

Posted by Good123 > 2023-10-04 11:03 | Report Abuse

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

Posted by Good123 > 2023-10-04 11:51 | Report Abuse

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.