Hatten Land Enters into MOU with Singapore Myanmar Investco to Undertake ‘Green’ Crypto Mining Activities in Melaka

Sep 16, 2021 | Business

Hatten Land Limited (SGX:PH0) announced today a partnership to operate Hatten Land’s energy-efficient ‘green’ cryptocurrency mining in Melaka that will soon be enabled by solar panels installed on rooftops of retail malls it owns or manages, as it pivots towards an environmental-friendly digital economy.

SGX-Catalist Hatten Land’s wholly-owned subsidiary, Hatten Technology (S) Pte. Ltd. (“Hatten Tech”) has signed a MOU with SGX Mainboard-listed Singapore Myanmar Investco Limited (“SMI”) to jointly explore business opportunities in cryptocurrency mining (“crypto mining”) activities. SMI recently partnered NASDAQ-listed The9 Limited (“The9”) to procure up to 4,000 sets of crypto mining rigs.

Both parties will leverage on Hatten Land’s space, infrastructure, and comparatively lower energy costs to carry out ‘green’ cryptomining activities, as Hatten Land steps up efforts to introduce solar energy. The renewable energy initiative will allow both parties to conduct ‘green’ crypto mining across Hatten Land assets, with increases in capacities helping to power more rigs to be added later.

Hatten Land and its parent the Hatten Group conglomerate are the leading developers in the historical Malaysian tourist city, operating six malls with built-up area of more than six million square feet. It also owns four hotels in Melaka.

Hatten Tech will share technological know-how on ‘green’ crypto mining facility management, and will also share the net proceeds of the cryptocurrencies to be mined.

Under the MOU, SMI has the intention to install up to 2,000 rigs in Hatten Land’s properties in Melaka. Hatten Land and SMI are working to conclude definitive agreement within 90 days from 30 September 2021. Hatten Land expects to install and operate the rigs from December 2021.

New Solar Energy Initiatives with Strategic Partnership

Hatten Land also announced that its subsidiary Hatten Commercial Management Sdn. Bhd. (“HCM”), which focuses on green and sustainable energy innovations and developments, has signed a Strategic Partnership Agreement with Nestcon Sustainable Solutions Sdn. Bhd. (“NSS”), a wholly-owned subsidiary of Bursa-listed Nestcon Berhad to install solar panels on the roofs of some of its properties in Melaka.

HCM and NSS will set up a joint-venture or form a consortium with other partners to install solar panels and facilities at Hatten Land-owned malls. An estimated 6,373 solar panels will first be installed at Dataran Pahlawan Melaka Megamall – the largest mall in Melaka and managed by Hatten Group conglomerate – can generate up to 3.19 MWp of solar energy.

The initiative will allow Hatten Land to lower energy costs, accelerate its sustainability efforts and contribute to the ‘green’ crypto mining.

In addition, NSS and HCM will jointly collaborate with other potential partners to discuss opportunities to utilise and/or secure Hatten Land’s current and future land reserve in Malaysia to build large-scale solar photovoltaic (“LSSPV”) facilities, by phases, capable of generating up to 100 MWp.

Aligned with Hatten Land’s environmentally-friendly digital initiatives, this strategic partnership will allow the Group to lower energy costs, enhance synergies in its ‘green’ crypto mining activities and harness new business opportunities in the renewable energy market.

Proposed Share Placement to Accelerate the Group’s Technology Ventures and Renewable Energy Initiatives

Hatten Land is also pleased to announce that it would raise S$1.8 million from the placement of 80,000,000 new shares at S$0.023 (“Placement Shares”), representing a discount of approximately 5.74% over the volume weighted average price of S$0.0244 per share on 10 September 2021. The shares will be issued to Asdew Acquisitions (40 million), Evolve Capital Management (20 million) and Mr Ong Toon Wah (20 million) (collectively, the “Subscribers”).

Each Placement Share comes with a detachable warrant which can be converted to Hatten Land shares at S$0.048 within two years. Proceeds will be used as working capital, as well as to pursue technology and solar initiatives.

The Placement Shares represent approximately 4.78% of the enlarged share capital of Hatten Land of 1,675,169,228 shares. Assuming full conversion of the warrants, Hatten Land’s issued share capital base will be enlarged further to 1,755,169,228 shares, of which the Subscribers will hold approximately 9.12%.

Dato’ Colin Tan, Executive Chairman and Managing Director of Hatten Land, said: “As COVID-19 becomes endemic, we see strong opportunities taking shape and both partnerships accelerate our pivot towards the digital economy.

‘Green’ crypto mining activities will allow Hatten Land to leverage on existing fixed assets in Melaka, harness our own renewable energy initiative and create new revenue stream with the cryptocurrency proceeds.

We are also equally excited to embark on the solar energy collaboration with Nestcon, at a time when sustainability is becoming increasingly important. Combining our efforts and resources, we are confident that the partnership will allow us to harness new business opportunities and further our sustainability efforts.

These are significant milestones for Hatten Land and it aligns with our digital transformation roadmap to increase shareholder value in a sustainable manner.”

Dato’ Colin Tan, added: “We are extremely pleased with the interest and support in our Share Placement and the proceeds will enhance our financial flexibility in our strategic technology and renewable energy initiatives ahead.”

About Hatten Land Limited

Hatten Land Limited is one of the leading property developers in Malaysia specialising in integrated residential, hotel and commercial developments. Headquartered in Melaka, it is the property development arm of the conglomerate Hatten Group, which is a leading brand in Malaysia with core businesses in property development, property investment, hospitality, retail and education.

Hatten Land Limited began trading on the Catalist board of SGX-ST on 28 February 2017 after the completion of the reverse takeover of VGO Corporation Limited. For more information, visit: www.hattenland.com.sg
[SGX: PH0; Bloomberg: HATT:SP; RIC: HATT:SI]

Issued on behalf of Hatten Land Limited by WeR1 Consultants Pte Ltd.
Media & Investor Contacts:
Mr Isaac Tang
Mobile: +65 9178 0269
Email: hatten@wer1.net

This press release has been prepared by Hatten Land Limited (the “Company”) and its contents have been reviewed by the Company’s sponsor, UOB Kay Hian Private Limited (the “Sponsor”) for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (the “SGX-ST”) Listing Manual Section B: Rules of Catalist.

This press release has not been examined or approved by the SGX-ST and the SGX-ST assume no responsibility for the contents of this press release, including the accuracy, completeness or correctness of any of the information, statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Mr Lance Tan, Senior Vice President at 8 Anthony Road, #01- 01, Singapore 229957, telephone +65 6590 6881.


Topic: Press release summary

Nine Way Real Estate Enters Dubai Real Estate Market

Aug 16, 2021 | Business

 Dubai’s real estate sector has just reached in June 2021 a record of sale transactions, the highest in value in eight years*, proof of the vitality and attractiveness of the property market in the Emirate. Is this post-lockdown vitality of the real estate industry the sign Monica Garcia Ricardo, an accomplished and award-winning agent, was waiting for to open Nine Way Real Estate, a boutique size brokerage, built on traditional values of service and integrity.

“I am very pleased to announce the opening of Nine Way Real Estate, www.9way.co, a company aiming to provide real estate business opportunities and to cater with outstanding service to the needs of the real estate industry in Dubai. In 2021 we are living differently, and I think this is an amazing opportunity to be creative and technology powered,” she announced.

About the current real estate market, Garcia Ricardo said: “The slowdown on the off-plan projects launches for the last two years, has subsequently translated into a reduction of units stock availability in the market. This has and will continue to bring a much-needed vitality and demand to the secondary market; while on the primary market it will increase current investors’ interest in new launches, which is already happening with consistent demand for villas and townhouses, and waterfront properties. I am very excited about the market and the journey ahead for Nine Way Real Estate.”

The new office of Nine Way Real Estate is located in Bay Square, Business Bay. The directions can be easily accessed from Google Maps and the company website.

Nine Way Real Estate is currently hiring experienced RERA-certified agents for secondary and primary sales. The candidates can find the requirements and directly apply from the company website www.9way.co on the About Us page.

About Nine Way Real Estate Owner, Monica Garcia Ricardo:

Monica Garcia Ricardo is a RERA Licensed Dubai Real Estate Agent, with international experience in the industry since 2012, and a legal background. She delivers exceptional private-client advisory services, and is very good at matching clients with the right properties, with minimal time-wasting by identifying and pre-selecting only those properties which are truly suitable, whether they are direct products or via her diverse network. ​Monica is from Havana, Cuba. She has extensively traveled and lived on different continents. She can fluently communicate in several languages (Spanish, English, Italian, Russian, French). Parallel to her Real Estate carrier Monica also paints. You can see her Artist profile on her website www.monicagarciaricardo.com

For more information: www.9way.co

Nine Way Real Estate

* according to Mo’asher, Dubai’s official sales price index

Nine Way Real Estate

Monica Garcia Ricardo

+971509665008

www.9way.co

ContactContact

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  • Real Estate

Japan – Hitachi Rail Enters Agreement to Acquire Thales’ Ground Transportation Systems Business

Aug 5, 2021 | Business

Hitachi, Ltd. (TSE: 6501) and Hitachi Rail today agreed to acquire Thales’ Ground Transportation Systems business (the “Business” or “GTS”) for an enterprise value of EUR1,660 million (~YEN215 billion). The final purchase price will be determined after customary adjustments typical for a transaction of this nature. The acquisition is expected to close in late FY2022(1), subject to the usual conditions including regulatory and antitrust clearances. Employee representatives of both Thales and Hitachi Rail will be informed and consulted according to the laws of the countries concerned throughout the process. Hitachi intends to promote the conditions for a smooth and successful integration of the Business and is willing to take a number of social commitments in this respect.

GTS, a division of Thales, is a global leader in Rail Signalling and Train Control Systems, Telecommunications and Supervision systems and Fare collection solutions. In FY2020, GTS generated EUR1.6bn of revenues and today employs around 9,000 employees across 42 countries and is headquartered in Germany, France and Canada. Hitachi Rail expects GTS to show continued revenue and EBIT growth and by closing, the implied standalone forward EV/EBIT valuation multiple should be around 10x.

As a result of this agreement, Hitachi Rail expects to drive growth by expanding the scale of its rail signalling systems business globally, bringing an enhanced turnkey railway offering to new markets around the world. The combined business will be positioned to become a global leader in the rail signalling market. The combined strength of Hitachi and GTS’s Digital expertise will also help Hitachi Rail to accelerate its ‘Mobility as a Service’ (“MaaS”) offering for a global customer base.

With the complementary strength of GTS’s signalling activities, and rapid growth in MaaS and digitization in the rail sector, GTS will help Hitachi Rail to potentially reach
YEN 1 trillion (EUR7.7 billion) revenue and double-digit adjusted operating income ratio by FY2026, or around four years from closing.

The Business consists of four segments: mainline railroad signalling systems, urban rail signalling, integrated communication systems and revenue collection systems.

Around 50% of the Business is dedicated to digital offerings, and the company employs a wealth of digital talent in the mobility sector.

The combination of Hitachi Rail and Thales’ Ground Transportation Systems business is strategically attractive, geographically and technologically complementary and synergistic:

Global:
Complements Hitachi Rail’s existing presence in Japan, Italy, UK and the United States with GTS’s core locations including Germany, France and Canada. Creates a global signalling provider to meet customer demand in more regions around the world. This reinforces Hitachi Rail’s core business as a fully integrated, global provider of rail solutions across rolling stock, signalling, service & maintenance, digital technology and turnkey solutions.

Digital:
Provides access for GTS’ customers to Hitachi’s Lumada digital solutions and services, and GlobalLogic’s leading digital capability. This accelerates Hitachi Rail’s entry into the MaaS segment which could drive significant growth in line with Hitachi’s 2021 Mid-term Management Plan. According to independent research, the global “MaaS” market is expected to grow by 25%+ compound annual growth rate to 2025(2). The combined Hitachi Rail and GTS business would be well positioned to benefit from this wider trend.

Sustainable:
Supports Hitachi’s long-term environmental targets, including achieving carbon neutrality at all its business sites by 2030 and an 80% reduction in CO2 emissions across the company’s value chain by 2050. For example, GTS’s GreenSpeedTM driver advisory system cuts energy consumption and CO2 by 15% through optimizing train speeds.

Synergistic:
Run-rate synergies in excess of EUR100 million per year are achievable through the greater scale of the combined business, which would enable growth opportunities such as cross-selling to a wider global customer base and cost competitiveness such as improving effectiveness of procurement, optimizing engineering capabilities and enhanced production. The run-rate synergies are expected to be achieved around 4 years after closing.

Andrew Barr, Chief Executive Officer, Hitachi Rail, said: “Today’s announcement marks an exciting opportunity for the teams at Hitachi Rail and Thales’ Ground Transportation Systems business to create new value for our customers, cities and passengers around the world. Not only will we grow the reach of our core signalling capabilities as part of our turnkey offering, but we are also bringing together our digital and Mobility as a Service capabilities. The strong teams, customer relationships and technologies at GTS will help us grow to become a major player, further enabled by Lumada and the digital engineering of our teams at GlobalLogic and the broader Hitachi Group.”

Philippe Keryer, EVP Strategy, Research & Technology, Thales said: “After discussions with key market players, Thales has selected the best industrial partner to ensure a successful long term development of its ground transportation business. This move is creating significant value for our clients, employees and shareholders and enables Ground Transportation Systems to be at the forefront of growth in sustainable mobility.”

(1) Equivalent to Hitachi’s FY2022 for the year ending 31 March 2023
(2) Mobility-as-a-Service (MaaS) Global Study 2025, BIS research

Copyright ©2021 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.

SCTi Enters Into Exclusive North American Distribution Agreement with the EA Group

May 20, 2021 | Business

Data center cooling optimization specialists, SCTi entered into an exclusive marketing and sales agreement with the EA Group, electrical and HVAC contracting experts, for distribution of floating head technology to North American data center clients.

The floating head retrofit achieves energy savings as high as 45% and improves compressor lifecycle and reliability by reducing compressor pressures during lower ambient temperatures.

Floating head pressure is a climate-controlled technology perfected by the EA Group to reduce energy consumption of data center DX based air conditioning systems. The retrofit entails replacing the standard mechanical expansion valves with new electronic expansion valves, a micro-processor based controller and a variable speed drive lead condenser fan, enabling head pressure to modulate based on ambient temperature. This results in a drop in compressor wattage while compressor cooling capacity (BTU/hr) increases, in turn reducing compressor energy usage.

Arnold Murphy, CEO of SCTi explains, “This retrofit is especially appealing in Canada and parts of the Northern US where the ambient temperature is 23°C (73°F) or below for 75% of the year. Significant energy reductions can be achieved by operating at a lower condensing pressure for a large portion of the year. An additional benefit is the reduction in carbon footprint due to the removal of significant amounts of refrigerant that is no longer required for certain installations.”

Paul Bird, President of EA Group added, “We’ve worked with SCTi for over 5 years on many floating head projects and are excited to team up with them to broaden the market exposure of this technology.”

To date, over 225 CRAC units have been retrofitted with the floating head technology, making them more responsive to ambient temperature conditions resulting in significant energy reductions.

About SCTi: SCTi has more than 15 years of experience maximizing data centre performance through airflow and cooling optimization. Their comprehensive Cooling Optimization Program (COP) right-sizes cooling capacity and improves airflow management to reduce costs by 20-35%. Taking a customer-centric approach, they provide turnkey solutions that enable companies to become better environmental stewards by reducing data center cooling energy consumption and greenhouse gases.

Follow us on LinkedIn: www.linkedin.com/company/strategic-clean-technology-inc

Follow us on Twitter: @sctinc_

About The EA Group: The EA Group have over 35 years of experience innovating in maintenance, contracting and construction of mission-critical sites. Their team of electrical, engineering and HVAC specialists tailor reliable and cost-effective solutions to meet their client’s needs. From the initial planning stage to preventative maintenance, they offer full-service solutions.

Moonstake Enters Partnership with Unido, The First Enterprise-Grade Asset Management Platform Built on Polkadot

Mar 19, 2021 | Business

Moonstake has recently joined forces with Unido, a leading crypto custody service and enterprise platform powered by Polkadot, continuing to strengthen its market position as a leading staking platform that supports the Polkadot ecosystem.
 

Through this partnership, Unido clients will gain access to the staking pools of Moonstake to easily and securely stake their crypto assets via the Unido DeFi Vault to generate additional yield on their investments. Currently Moonstake supports staking for Cosmos, IRISnet, Ontology, Harmony, Tezos, Cardano, Qtum, Polkadot, Quras and Centrality assets.

Meanwhile, investors from the Moonstake platform, especially institutional clients, will be able to enjoy a robust custody solution that allows them to play in DeFi with the corporate governance controls they require in order to invest. By combining our efforts, Moonstake and Unido can provide an infrastructure to enable enterprises and hedge funds to participate in the growing DeFi sector while exponentially expanding their client bases together.

Moonstake started in the staking business last year with the aim to create the largest staking network in Asia. Since then, Moonstake has developed the most user-friendly wallets for both Web Wallet and Mobile Wallet (iOS/Android) that are compatible with over 2000 cryptocurrencies. After a full-scale operation launched in August 2020, Moonstake’s total staking assets have grown rapidly to reach USD 800 Million in staked assets in 6 months. Within a year of its founding, Moonstake has been ranked in the top 10 of the world’s staking service providers and it continues to expand its business strongly. Moonstake officially supported staking of Polkadot’s native token, DOT, since the beginning of this month, March 2021.

Led by a highly experienced team from Macquarie Bank, Wipro and Goldman Sachs, Unido is the first enterprise-grade asset management platform being built on Polkadot and features apps already available in the App Store. It is incubated by the team behind AllianceBlock, SpiderDAO, and Bridge Mutual, and supported by Strategic Partner, DuckDAO. Since the beginning of this month, March 2021, Unido’s proprietary token, UDO, became available for trading on global exchanges.

When asked about the new partnership, Lawrence Lin, CEO of Moonstake, commented: “Moonstake appreciates the trust Unido has in our staking solution to utilize our SDK API connection, and we look forward to collaborating further with them to spread awareness and accelerate the adoption of blockchain and distributed ledger technologies globally.”

Unido’s CCO Michael Swan stated: “Unido is committed to delivering a diverse marketplace of DeFi options within the Unido EP dashboard. I’m very excited to include Moonstake staking pools in our dashboard, given their strong market position and compelling yield performance to date. We look forward to providing enterprise-grade custody solutions to encourage further enterprise and hedge fund delegations to Moonstake’s platform.”

About Moonstake

Moonstake was recently established to develop a staking pool protocol to satisfy increasing demands in regional and global blockchain markets. Moonstake develops a staking pool protocol and provides business services through partners and companies.

Moonstake aims to be the largest staking pool network in Asia by providing an active environment for crypto asset holders. Establishing a clear partnership roadmap with Moonstake represents another significant milestone for continuing to strengthen ties with leading platforms across Asia’s burgeoning Distributed Ledger Technology (DLT) ecosystem. Partnership has been announced with Emurgo, Ontology and NEO to boost staking adoption, Binarystar, Japan’s biggest blockchain hub, OIO Holdings Limited (SGX: OIO), a Singapore-listed company. Industry’s reputed advisors, such as Lisk and Lawrence Lim of RAMP DEFI support Moonstake’s innovative journey.

With a full-scale operation launched in August 2020, we expanded our business and as of now, our total staking assets exceeded over USD 800 Million. https://www.moonstake.io/

About Unido

Unido is an enterprise platform for decentralized capital markets. It enables institutions & corporate clients to securely store, manage and invest their crypto assets into decentralized finance networks. Unido is underpinned by proprietary key signing technology that provides enterprise-grade security for any transaction which utilizes it.

Founded in 2017 and with a market-ready product, Unido is led by an experienced team of ex-Goldman Sachs, ex-Macquarie and ex-Wipro with decades of experience in enterprise software development, financial services and agency blockchain development.