BINA PURI WON HIGH-SPEED RAILWAY BID IN THAILAND BINA PURI HOLDINGS BHD
Description: BINA PURI WON HIGH-SPEED RAILWAY BID IN THAILAND The Board of Directors of Bina Puri Holdings Bhd. (“BPHB” or “the Company”) wishes to announce that its wholly owned subsidiary of the Company, Bina Puri Sdn. Bhd. (“BPSB”) through its joint venture company, SPTK Joint Venture Company Limited (“SPTK JV Co. Ltd.”) won a bid for a package from the High-Speed Railway Project to connect regions in Bangkok – Nong Khai Section, (Phase 1 Bangkok - Nakhon Ratchasima Section), Contract No. 3-5 Civil Works for the Khok Kruat-Nakhon Ratchasima Section (“the Contract”).
The Contract value is THB7,750,000,000.00 (equivalent RM1.036 billion).
A total of 26 projects with approximate value of RM2.0 billion have been completed by Bina Puri in Thailand since 2003.
The Contract will have no material effect on the share capital and substantial shareholders’ shareholding of BPHB.
The Contract is expected to contribute positively to the earnings and net assets of the BPHB Group. With the latest award mentioned above, the Group's unbuilt book order stands at RM1.9 billion as at to date.
None of the Directors and Substantial Shareholders, persons connected to the Directors or Substantial Shareholders of the Company and its subsidiaries or persons connected thereto have any interest, direct or indirect in the Contract.
The Directors of the Company are of the opinion that the Contract is in the best interest of the Group.
Focus already work with oversea, next is Focus will work with XOX to bring XOX to 5G international market support overseas restaurant. XOX will shot to 1.00 by 31/12.
This mooncake festival, Oversea Enterprise, who are known for their mooncakes, will allow customers to trace their mooncake products via blockchain adoption. The restaurant chain is the first local SME to adopt AntChain’s Transparency as a Service (TaaS) in Southeast Asia through XOX Berhad.
Using TraX powered by AntChain TaaS, customers can access product information including key ingredients, manufacturing and expiry dates as well as Halal certification. They can also follow the product journey from manufacturing all the way to delivery.
AntChain TaaS is a blockchain-based traceability solution that is combined with IoT technologies to enable trust, increase efficiency and provide end-to-end transparency on information along the supply chain. Since the launch in 2016, they have pioneered over 50 blockchain commercial applications and use cases.
XOX developed the mobile application platform TraX to provide scalable, agile and cost-effective solutions for SMEs and enterprises to achieve greater product traceability and information transparency in a supply chain. This ultimately prevents fraud and protects product authentication.
According to Soh Jin Yiat, Deputy GM, Oversea Enterprise Berhad, the adoption of blockchain technology is part of their continuous efforts in enhancing information traceability and transparency of their supply chain. Initially, consumers can know where and how their mooncakes are made. Eventually, consumers will also be able to trace information on their products down to the certification and sourcing of raw products.
“If we want to check with our suppliers and ensure they are meeting all health regulations for their products, blockchain provides the transparency for this”, said Soh.
As blockchain is based on nodes, each time a node is added from a supplier or consumer, the company can get more transparency. This ultimately allows them to save a lot more time and also be able to have transparent visibility on their products from source to delivery.
Following a strategic partnership with Alipay Labs, XoX will collaborate with the AntChain Group in blockchain bases technology solutions in the Asia Pacific region. Ng Kok Heng, CEO of XOX Berhad said they planned to develop more customised solutions on the TraX platform for businesses of different sizes, including the pharmaceutical sector.
“Blockchain technology is key to accelerate digital transformation for enterprises and SMEs as brands can gain consumer trust by adopting a transparent way of doing business as well as creating a better consumer experience”, said Ng.
He added that most Malaysian businesses are still unsure as to how they can apply blockchain to their businesses. Which is why he strongly recommends companies to first understand how blockchain can be used to help them improve their business. XOX is also looking to partner with organisations in developing the right tools for them.
Echoing him was Kenny Tan, Head of AntChain International Business. While there are several solutions offered by AntChain, the current focus in APAC is TaaS and AntChain open platform, of which they are training talents and developers to be able to localise the blockchain applications. By creating an ecosystem in the country and the region, more businesses will be able to chain up the industries. Their partners like XOX will be influential in providing solutions to the client.
Dato Ng Wan Peng, COO of MDEC, explained that Malaysia is also providing the ecosystem for early adopters to experiment with blockchain. There have been various industries working and testing with blockchain including Fintech and Insuretech, who are now working on a proof of concept blockchain application. TNB has also just started blockchain trials for renewable energy.
XOX and AntChain also plan to introduce Creator ID, built on AntChain Digital Asset solution, to enable digitalisation of real assets on blockchain, such as copyright, cultural art and such, leading to a more efficient transfer and utility of assets in both online and offline scenarios.
ASTUTE market observers would have noticed on the local bourse a group of individuals, supposedly acting in concert, who have amassed shares in more than 20 publicly traded companies. These companies — linked via shareholding and directorships — are often on the most actively traded list, with huge, fluctuating share prices.
“It (the companies) is all linked to the same person; usually, the most actively traded list on a daily basis involves these counters,” one source says when asked which are the companies that are linked.
However, research by The Edge (see chart on the 21 companies) indicates that while other businessmen have surfaced, the individual said to be in control of the group of companies is not officially onboard or present as a shareholder.
“This [his not surfacing] could be due to several issues,” another source adds.
It is also telling that nine of the 21 companies mentioned — AT Systemization Bhd, MLabs Systems Bhd, Focus Dynamics Group Bhd, mTouche Technology Bhd, Fintec Global Bhd, XOX Bhd, M3Technologies (Asia) Bhd and NetX Holdings Bhd — have their principal place of business, head office, business office or corporate office in Menara Lien Hoe, near Tropicana Golf Country Resort in Petaling Jaya. On its website, Lambo Group Bhd states that its address is at Menara Lien Hoe, even though the address in its annual report is in Old Klang Road in Kuala Lumpur.
In 2006, Lien Hoe Corp Bhd sold Lien Hoe Tower Sdn Bhd, which owns Menara Lien Hoe, to privately held E-Globalfocus Sdn Bhd for RM1 and the assumption of RM43 million in debts.
Meanwhile, E-Globalfocus was 68%-controlled by Cubes Innovative Sdn Bhd, a company 99%-controlled by Chuah Hock Soon. Chuah and businessman Datuk Kenneth Vun @ Vun Yun Lun were charged with four others in July 2014 for allegedly manipulating DVM Technology Bhd shares in March 2006.
Vun has had several issues with the Securities Commission Malaysia and, in 2009, had to restitute RM2.496 million — being the amount of company funds that he had caused to be misused for his personal benefit, according to the regulator — to his then flagship FTEC Resources Bhd.
Since FTEC — which morphed into Tecasia Bhd and later Mangotone Bhd — was delisted, Vun has had little direct presence in the market. However, Vun’s two sisters, Carol Vun On Nei and Grace Vun Siaw Nei, hold stakes of 3.64% and 0.67% respectively in Xidelang Holdings Ltd.
Fragmented shareholding While Fintec Global seems to be a prominent company at the centre of the maze, its shareholding is fragmented, with several blocks of shares parked under Sanston Financial Group Ltd. In several of the 21 companies on the list, Sanston Financial is present in the shareholding list.
Other companies that surface as shareholders in these list of companies include Global Prime Partners Ltd and Cita Realiti Sdn Bhd, a private company wholly-owned by one Kamarudin Khalil.
Other shareholders, albeit usually holding small stakes, among the 21 companies include Datuk Jacky Pang Chow Huat — who, apart from a 11.84% stake in Sanichi Technology Bhd — has small stakes in DGB Asia Bhd, Focus Dynamics, MNC Wireless Bhd and Xidelang. Pang is also a director in Sanichi Technology.
Meanwhile, businessman Mak Siew Wei has 23.4% in AT Systemization, 17.07% in Green Ocean Corp Bhd and small stakes in Focus Dynamics and Xidelang. He is also a director at AT Systemization, Green Ocean and Saudee Group Bhd.
Datuk Eddie Chai Woon Chet recently acquired a 62.37% stake in restaurant operator Oversea Enterprise Bhd, and has a 6.71% shareholding in Anzo Holdings Bhd, where he is managing director and has a board position in M3Technologies (Asia). Another name frequently seen is Datuk Kua Khai Shyuan, who, besides a 5.9% stake in mTouche Technology, has small shareholdings in Focus Dynamics, PDZ Holdings Bhd and Sanichi Technology, and has board seats on Trive Property Bhd, DGB Asia and MNC Wireless.
Former Umno treasurer and former Bank Simpanan Nasional Bhd chairman Datuk Abdul Azim Mohd Zabidi surfaces as a director in four of the companies — Fintec Global, DGB Asia, Anzo and XOX.
Most of the companies are loss-making and small in terms of market capitalisation, with the exception of Focus Dynamics, which has a market value exceeding RM5 billion. Nevertheless, Focus Dynamics, which is involved in operating food and beverage outlets, seems to be the star performer, with its stock price hitting a multiple-year high of RM2.64 recently on Sept 17, despite mustering a meagre RM3.08 million in net profit from RM20.72 million in revenue for its six months ended June this year.
Year to date, Focus Dynamics stock has gained about 400%.
Irrational exuberance Trading volume on most of the 21 companies is generally high, and many have shown unexplainable strong gains over the past few months.
For instance, Saudee’s stock hit a low of eight sen on March 17, and picked up momentum in June to hit a 52-week high of 67 sen on Aug 13, gain
Ever since the Edge Report, The share price of XOX and its sister companies mentioned in the report , Kgroup, Fintec , Focusdynamics, etc... have been going down. Dont know if the news is true that the directors are under investigation by SC. Still no reports and unconfirmed. The directors also scared I think hence the stop of goreng. This forum is for sharing of news, Good news ,we share, bad news also must share. If only good news were allowed, then there is no need for this forum, everyday just say TP + $2. and everyday new contracts gotten. Always buy on fundamentals, results and reports. Win or lose, you decide yourself. Happy trading all!
Stay cool and relax. Never give up. Have trust in XOX businesses ie e sim, e wallet, blockchain solutions, AntChain collaboration and of course Alipay Lab connections
Another day ding dong 11.5 and 12 cts, the fifth day ding dong Bell? Either dump it to 9 cts or jack up suddenly awake from sleep. Watch the ding ding dong on day
There is nothing wrong with common shareholder and directors, all these are properly disclosed to the Bursa, it is not hiding. It is also common for company to invest in other companies. So no big issues. Buy/Sell share is willing buy/willing sell. There is no legal law to prevent such. So the news is just to remind small investor to be cautious it does not indicate or prove any wrong doing.
If today can improve to 13.5, tomorrow many hiding players come back like ants with sugar spreading all over, panicked buyers rushing for the good news again. Stay alive and many beloved the story and life begins again.
If penny stocks like kanger suddenly limit up yesterday after loosing momentum more than 50%,it can happen to any favourite counter. The fact base on reality is common among gamblers
The group of company under one umbrella moving upwards, ie kanger, fintec, ki, xdl, what do you think whether xox belonging to group market players? If yes what do you think of the next step?
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Posted by PakMuda > 2020-10-07 21:11 | Report Abuse
XOX still doing right business. Into Digital Solutions E Wallet, Microfinancing, 5G, Blockchain, just a matter of time.