ACROMETA Group Limited (“ACROMETA”, or the “Company” and together with its subsidiaries, the “Group”), an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, today announced that the Board of Directors of the Company’s indirect subsidiary, Neo Tiew Power Pte. Ltd. (“NTP”), had on 27 October 2023 initiated the process to place NTP under Creditors’ Voluntary Liquidation ( “CVL”). NTP is a wholly-owned subsidiary of Acropower Pte. Ltd., which the Company has an effective interest of 56% in.
NTP was incorporated in February 2020 to produce renewable energy by converting biomass poultry waste into green electricity by the process of pyrolysis. However, due to the Covid-19 pandemic and changes to regulations for the safe handling of potentially dangerous animal waste products, NTP has not been able to commence operations.
The Group had extended significant loans to NTP and has decided it cannot continue supporting NTP. The directors of NTP had on 27 October 2023 resolved to place NTP in Provisional Liquidation, pending its eventual liquidation. Insolvency Practitioners from Alternative Advisors Pte Ltd were appointed as Provisional Liquidators. This decision arises from the inability of NTP to continue its regular business operations by reason of their liabilities.
Mr Lim Say Chin, CEO of AcroMeta Group said, “Conversion of poultry waste to green electricity is a fundamentally promising business. However, the Covid-19 pandemic’s impact on construction as well as changes in regulations for the safe handling of animal waste products meant that the project would continue to require financial support and affect the Group’s allocation of resources.”
Mr Levin Lee Keng Weng, ACROMETA’s Executive Chairman, said, “The Board’s decision for the voluntary liquidation of NTP by Acropower reflects our current focus on expanding the laboratory construction and co-working laboratory space businesses, both of which are currently cash flow positive and show a promising future with an encouraging flow of business opportunities and projects in the last twelve months.”
In August 2023, the Group’s wholly-owned subsidiary Acromec Engineers Pte Ltd (“Acromec”) was awarded a S$19 million contract for the design and construction of a 1,500 sqm high containment biosafety level research laboratory. In October 2023, the Group’s 70% owned subsidiary company Life Science Incubator Pte Ltd (“Life Science Incubator” or “LSI”) entered into a Management Agreement (the “MA”) with HB Universal Pte Ltd, a subsidiary of Mainboard-listed Ho Bee Land Limited, to operate and manage a co-working laboratory space at Elementum, One-North, a building in the heart of Singapore’s biomedical industry district.
About ACROMETA Group Limited (SGX Stock Code:43F)
ACROMETA (Previously known as ACROMEC Limited) is an established specialist engineering services provider with more than 25 years of experience in the field of controlled environments.
The Group has, over the years, acquired expertise in the design and construction of facilities requiring controlled environments such as laboratories, medical and sterile facilities and cleanrooms.
ACROMETA’s business is divided into three main business segments: (i) Engineering, procurement, and construction services, specialising in architectural, and mechanical, electrical, and process works within controlled environments; (ii) Maintenance and repair services of facilities and equipment of controlled environments and their supporting infrastructure. (iii) Co-Working Laboratory business; currently operates 6,500 square feet of co-working laboratory space at The German Centre in Singapore, serving SMEs and startups.
The Group mainly serves the healthcare, biotechnology, pharmaceutical, research and academia, and electronics sectors. ACROMETA’s customers include hospitals and medical centres, government agencies, research and development companies or agencies, research and development units of multinational corporations, tertiary educational institutions, pharmaceutical companies, semiconductor manufacturing companies, and multinational engineering companies.
The Company has been listed on the Catalist board of the Singapore Exchange since 2016. For more information, please visit www.acrometa.com.
Media and Analysts Contact:
ACROMETA Group Limited, Ms. Cheah Lai Min, Chief Financial Officer, Tel: +65 6415 0574, Email: laimin.cheah@acrometa.com
Waterbrooks Consultants Pte Ltd, Mr. Wayne Koo, Tel: +65 6958 8008 / +65 9338 8166, Email: wayne.koo@waterbrooks.com.sg, Email: query@waterbrooks.com.sg
This media release has been reviewed by the Company’s Sponsor, Evolve Capital Advisory Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “Exchange”), and the Exchange assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.
The contact person for the Sponsor is Mr. Jerry Chua, 138 Robinson Road, #13-02 Oxley Tower, Singapore 068906, jerrychua@evolvecapitalasia.com.
Golden Heaven Group Holdings Ltd. (NASDAQ:GDHG) is a Cayman Islands-based company that operates amusement parks, water parks, and related facilities in China. Established in 2020, it went public on NASDAQ in April 2023. The company operates six amusement parks throughout China and plans to expand its operations significantly, becoming a regional leader in the sector.
Their head office is in Nanping, a city recognized as the “birthplace of the Chinese amusement park industry,” and collectively the company has 426,560 square meters of operational land. GDHG’s portfolio of attractions are strategically located in southern China, accessible to around 21 million people. In addition to amusement parks, GDHG has complementary offerings including restaurants and food stalls, which also positively contribute towards revenue.
Following their IPO in April, where shares were priced at $4, we’ve witnessed a 254% surge in the share price – this can be seen in Figure 1. This suggests growing investor interest, potentially driven by GDHG’s growth potential, industry positioning, and expansion plans, despite the challenges posed by the market conditions.
Figure 1: GDHG share price since IPO – Created at TradingView
Technicals
The Relative Strength Index (RSI) is a technical indicator that provides insights into the momentum and potential overbought or oversold conditions of a financial asset. RSI values above 70 typically suggest overbought conditions, indicating a possible price correction or reversal to the downside, while values below 30 indicate oversold conditions, suggesting a potential buying opportunity or a price rebound. As we can see from the below, GDHG currently has an RSI value below 70, while the moving average sits above 70 suggesting overbought conditions. However, this is by no means conclusive. Investors should also consider the company’s positive momentum and valuation metrics.
Figure 2: Relative Strength Index – Created at TradingView
The Moving Average Convergence Divergence (MACD) is a popular technical indicator used to assess the strength, direction, and potential reversals in the price trends of financial assets. It achieves this by comparing short-term and long-term moving averages, with the MACD line representing the difference between these moving averages and the signal line showing the smoothed version of the MACD line. Crosses between these lines can signal buy and sell opportunities, while the MACD histogram helps identify changes in momentum, offering valuable insights for traders and investors. Currently we can observe that the MACD line and the smoothed version of the MACD line have just crossed. However, momentum is yet to turn fully.
Figure 3: Moving Average Convergence Divergence – Created at TradingView
Bollinger Bands are a technical indicator that provides insights into the volatility and potential price levels of a financial asset. They consist of three lines: a middle band, which is typically a simple moving average, and two outer bands that are derived from standard deviations. The width of the bands expands and contracts in response to price volatility. When prices approach or touch the outer bands, it suggests overbought or oversold conditions, potentially signalling a reversal or correction. As we can see, the orange line, representing the moving average, currently sits in the middle of the range, inferring, given the positive momentum, that there could be more to the rally.
Figure 4: Bollinger Bands – Created at TradingView
High Risk, High Reward
None of the three of these metrics suggest the amusement park owner’s bull run will come to an end, however it’s clear momentum is slowing. This is partially supported by valuation metrics, although it’s by no means conclusive. GDHG currently trades at 23.1 times trailing twelve-month (TTM) earnings, representing a 52% premium to the consumer discretionary sector. However, compared to international peers, it doesn’t appear excessively expensive – for instance, US giant Six Flags Entertainment Corporation trades at 21.5 times TTM earnings. However, it’s worth highlighting that Cedar Fair is much cheaper, trading at just 7.4 times TTM earnings.
This premium can be attributed to GDHG’s remarkable earnings per share growth and the positive sentiment surrounding the sector’s growth in China. In the first half of 2023, the company’s revenues exceeded RMB 140 million, marking a 6% increase from the same period in 2022. Gross profit for H1 2023 also improved, reaching RMB 101 million, a 7.5% increase from H1 2022, with a gross margin of 71.37%, up 1.02 percentage points from the previous year. Net income saw a significant 12% year-on-year increase, and earnings per share surged impressively by 135.1%, reaching RMB 1.05 in H1 2023 compared to RMB 0.45 in H1 2022.
The amusement park market is also forecast to grow significantly, with a compound annual growth rate (CAGR) of 15% between 2022-2027. The anticipated growth will be fueled by several factors, such as the increasing disposable income of Chinese consumers, the ongoing urbanization of the country, bringing more customers within range of the parks, and the rising trend of family tourism.
In conclusion, GDHG appears a high risk, high reward investment. Stock float suggests high volatility, but the share price rally is support by continued positive momentum, and no warning signs from the technical data.
Lissette I. Guzman of Southbridge, Massachusetts has been honored as a Woman of the Month for October 2023 by P.O.W.E.R. (Professional Organization of Women of Excellence Recognized) for her outstanding contributions and great success in the fields of healthcare and government.
About Lissette I. Guzman Lissette I. Guzman is a federal agent with the U.S. government and the executive director of the Renaissance Medical Group, a full-service healthcare provider offering patient-centered care, primary care, behavioral healthcare, adult day care, home services, people first GAFC, pharmacy services, and transportation services for vulnerable populations. With over four years’ experience, Lissette is responsible for the daily operations and ensuring patients and families receive proper care and services.
After gaining several years of experience within various departments of the U.S. government, Guzman was presented with a unique opportunity at Renaissance Medical Group to embark upon a career in the healthcare sector. “I had the privilege to immerse myself in their comprehensive 360-degree care system. This experience allowed me to cultivate a deep-seated knowledge and passion that I had not previously discovered within myself,” said Guzman. “I then made the decision to further my education and training in the healthcare domain, with the goal of providing our patients with a strong foundation of expertise and an unwavering commitment to continuously seek enhanced solutions to their healthcare challenges.”
Lissette earned an M.S. in Social Science from Columbia University in 2011 and studied International Business. She received a Certification as a Phlebotomy Technician; is certified in TCI Trauma Crisis Intervention from Cornell University; is certified in Healthcare Compliance; and is an IT Engineer. She belongs to the World Health Organization, Homeland Security Agency, and FEMA.
In her spare time, Lissette enjoys reading, writing, spending time with her family, and being with her children.
About P.O.W.E.R. (Professional Organization of Women of Excellence Recognized ) and powerwoe.com P.O.W.E.R.-Professional Organization of Women of Excellence Recognized is an organization and an online community. P.O.W.E.R. Magazine is a digital and exclusive print magazine featuring celebrities and everyday hardworking professional women. Our mission is to provide a powerful network of women who will mentor, inspire, and empower each other to be the best they can be. Through our valuable services and collaborating with like-minded professionals, our members can potentially gain the recognition and exposure they deserve, as well as obtain knowledge from those who have already achieved success.
P.O.W.E.R. Geri Shumer 516-677-9696 www.powerwoe.com Syndi Reibman
Endeavor Communications announced its collaboration with Bark, a renowned online safety solution that enhances online security for families with children and teens.
Bark is an online safety guardian that monitors smartphone activity for potential concerns like cyberbullying, threats, and online predators. This allows children to enjoy privacy and independence while providing parents with peace of mind. With Bark, invasive parental device inspections are unnecessary, as it promptly sends notifications to parents (complete with screenshots) upon the detection of any suspicious activity.
Darin LaCoursiere, President, and CEO of Endeavor Communications, highlighted the importance of online safety, stating, “Our commitment to safeguarding families is unwavering, and our partnership with Bark offers an added layer of protection for customers who are concerned about exposing their children to online threats. With this solution in place, Endeavor Communications can empower families to make informed choices regarding their online safety.”
Interested parties can find out more by contacting Endeavor Communications at 1-800-922-6677.
For more information, contact Kathy Morgan at kmorgan@weendeavor.com.
Endeavor Communications was founded in 1950 as a telephone provider to small towns and rural areas. Today, Endeavor provides phone, high-speed internet, and managed IT services to customers located in parts of Putnam, Owen, Hendricks, Morgan, Tipton, Hamilton, Parke, Greene, Montgomery and Clay counties.
Endeavor Communications Kathy Morgan 1-800-922-6677 www.weendeavor.com
The Clearwater Community Volunteers (CCV) Center will host a “Build Your Own Bear” workshop for local foster families on Sunday, November 12 at 2:00pm. The event is being done in partnership with the Pinellas County Foster and Adoptive Families Association (PCFAPA). Foster families from Tampa Bay are invited to participate in this family-friendly activity where the children get to stuff and dress their own teddy bear to take home. There is no cost to attend.
“The foster system can be one of significant trauma for children ranging from infants to young adults,” said Tracy Hawkins, manager of the Center. “Children are removed from their families for various reasons such as abuse, neglect and abandonment. From there, the child may move between four foster homes in the first year alone.”
“Associations like PCFAPA are actively working to make these kid’s lives better,” said Ms. Hawkins. “Humanitarian L. Ron Hubbard once said, ‘Bringing a child into the world today is a little bit like dropping one into a tiger’s cage. Children can’t handle their environment and they have no real resources. They need love and help to make it.’ The CCV Center is proud to support PCFAPA and the foster families by hosting activities for the kids.”
If you are a foster parent and would like to attend, please contact Tracy Hawkins at (727) 316-5309 to secure your child’s teddy bear.
About the Clearwater Community Volunteers Center:
The Clearwater Community Volunteers Center, established by the Church of Scientology in 2018, is a home for the benefit of all Tampa Bay nonprofit organizations. Built on the success of the Clearwater Community Volunteers, who host the signature Winter Wonderland and Easter Egg Hunt in Clearwater, the Center was created to serve the needs of our local nonprofits. The Center is fully equipped to host meetings, seminars, events and gatherings, all at no cost to the nonprofit community. Please email CCVcenter@ccvfl.org for more information about the Center.
Clearwater Community Volunteers Center Tracy Hawkins 727-316-5309
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