InvesTech Holdings Launches Virsical MetaFM, an Integrated Operations and Management Solution for Corporate Equipment and Facilities

InvesTech Holdings Limited (“InvesTech Holdings”; together with its subsidiaries, “the Group”; stock code: 1087.HK), a leading integrated smart-IT solutions provider in China, is pleased to announce that Wafer Systems Limited (“Wafer Systems”), a subsidiary of the Group that owns the flagship smart-office software product Virsical, recently launched Virsical MetaFM (“MetaFM”), an integrated operations and management solution for corporate equipment and facilities in commercial real estates and smart buildings. MetaFM outperforms traditional management models and empowers the digital transformation of building operations, maintenance and management.

Developed by Wafer Systems, MetaFM is a smart operations management system which is based on the operation, maintenance and management of equipment and facilities in buildings. With input from business interactions and feedback from clients, Wafer Systems has carried out an iterative programme of upgrades to the system. Serving operational goals in areas including security, environmental cleaning and customer service, the system helps optimise the operation, maintenance and management of facilities throughout the full life cycle of buildings. MetaFM offers comprehensive functions, including modules to handle assets and equipment, service centres, order management, preventive maintenance and management, patrol management, inventory management, supplier management, contract management, energy and data management, safe production and emergency planning. As a newly launched smart facility management platform, MetaFM has appealing characteristics, namely comprehensive functional modules, flexible applications, well-established templates, user-friendly interfaces, and a well-designed overall structure, optimising facility management practices.

As a solution specifically designed for the operations and maintenance of buildings and properties, MetaFM adopts Wafer Systems’ original platform structure while permitting development in new directions for building space management. Leveraging its powerful back-end self-configuration function, the system helps building operators to make accurate decisions on project operations, maintenance and management. The system also significantly reduces facility operations and maintenance costs, lowers potential risks relating to equipment operations, increases transparency in facility management, and maximises the efficiency of facility operations and maintenance. MetaFM can be applied in a diverse range of scenarios, providing a comprehensive smart space management solution for commercial properties, campuses and corporate offices.

MetaSpace, as a platform empowered by spatial digital twins, mainly facilitates information technology/operational technology (IT/OT) integration. MetaWork, an application platform specifically designed for enterprise digital administrative tasks, mainly supports enterprise employees and visitors, and serves administrative management functions. MetaView, a platform that features visualisation and analysis tools for enterprise digital data, serves as an enterprise management control panel and interactive screen. MetaSpace, MetaWork and MetaView complement one another in terms of functionality, forming a complete loop to provide high-quality, one-stop services for enterprises.

Mr. Ringo Chan, Chairman of InvesTech Holdings, said: “Equipment and facilities play a notably important role in enterprises’ production processes and business operations, making the management of equipment and facilities one of the most important aspects of enterprise management. With immense experience in the smart-office sector and experience of serving numerous Fortune 500 clients, we notice that companies are faced with problems in such areas as asset management, operating costs and procedure management. We therefore hope that our newly launched MetaFM can help enterprises overcome different challenges in the operation, maintenance and management of equipment and facilities. Leveraging the most advanced solutions, we have set a new industry standard for facility management, providing more customers with convenient smart-office space and improving overall operations management standards and work efficiency.”

“The Group has successfully launched the Meta series of smart-building management solutions, which can be deployed in a wide range of scenarios, providing powerful, comprehensive solutions that support enterprises in fields including employee health, user experience, collaborative efficiency, low-carbon and energy-saving operations, corporate sustainability, and environmental, social and governance (ESG) practices. Further, the Group has developed close strategic partnerships with ecosystem partners in the industry, which are leading cloud service and network providers such as Microsoft, Lark, Huawei and Cisco. Looking ahead, leveraging our strong product ecosystem alongside our research and development capabilities, we will continue to develop and optimise solutions to offer our customers one-stop smart-space solutions and facilitate enterprises’ digital transformation,” Mr. Chan said.

About InvesTech Holdings Limited

InvesTech Holdings Limited (stock code: 1087.HK) was listed on the main board of the Hong Kong Stock Exchange in 2010. As a leading integrated smart IT solutions provider with more than 30 years of experience in the IT industry, the Group is engaged principally in IT infrastructure systems integration and the smart-office software solutions businesses. The Group has a strong presence in China, with more than 10 offices nationwide and a research and development centre in Xi’an.


Topic: Press release summary

JE Cleantech Holdings Ltd Announces Receipt of NASDAQ Notification Regarding Minimum Bid Price Deficiency

JE Cleantech Holdings Limited (Nasdaq: JCSE), a manufacturer of a broad range of cleaning systems, announced that on November 3, 2022, it received a written notification from the Listing Qualifications Department of The Nasdaq Stock Market LLC (the “Nasdaq Notification”). The Notification stated that the Company’s ordinary shares failed to maintain a minimum bid price of $1.00 over the last 30 consecutive business days as required by Nasdaq Listing Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). Receipt of the Nasdaq Notification does not result in the immediate delisting of the Company’s ordinary shares and has no immediate effect on the listing or the trading of the Company’s ordinary shares on the Nasdaq Capital Market under the symbol “JCSE”.

Pursuant to Nasdaq Listing Rule 5810(c)(3)(A), the Company has a compliance period of 180 calendar days from the date of the Nasdaq Notification, or until May 2, 2023, to regain compliance with the Minimum Bid Requirement. If at any time before May 2, 2023 the closing bid of the Company’s ordinary shares is at least $1.00 for a minimum of 10 consecutive business days, the Company will be deemed to have regained compliance with the Minimum Bid Requirement following which Nasdaq will provide a written confirmation of compliance and the matter will be closed.

In the event that the Company does not regain compliance by May 2, 2023, the Company may be eligible for additional time to qualify. To qualify for additional time, the Company will be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market with the exception of the bid price requirement.

In the event that the Company does not regain compliance with the Minimum Bid Price Requirement by May 2, 2023 and is ineligible for an additional grace period, Nasdaq will provide further written notice that the Company’s ordinary shares are subject to delisting from The Nasdaq Capital Market. In that event, the Company may appeal the determination to a Nasdaq hearings panel or consider transferring the listing and trading of its ordinary shares to the OTCQX of the OTC Markets.

The Company intends to monitor the closing bid price of its ordinary shares. Receipt of the Nasdaq Notification has no effect on the Company’s business operations.

“We are cognizant of the value to our shareholders of the listing of our shares on Nasdaq given the liquidity and pricing efficiency that the exchange provides. We pledge our best efforts towards improved performance which we believe will allow to meet the continued listing standards,” stated Ms. Bee Yin Hong, CEO and Founder of JE Cleantech.

About JE Cleantech Holdings Limited

JE Cleantech Holdings Limited is based in Singapore and is principally engaged in (i) the sale of cleaning systems and other equipment; and (ii) the provision of centralized dishwashing and ancillary services. Through its subsidiary, JCS-Echigo Pte Ltd, the company designs, develops, manufactures, and sells cleaning systems for various industrial end-use applications primarily to customers in Singapore and Malaysia. Its cleaning systems are mainly designed for precision cleaning, with features such as particle filtration, ultrasonic or megasonic rinses with a wide range of frequencies, high pressure drying technology, high flow rate spray, and deionized water rinses, which are designed for effective removal of contaminants and to minimize particle generation and entrapment. The Company also has provided centralized dishwashing services, through its subsidiary, Hygieia Warewashing Pte Ltd, since 2013 and general cleaning services since 2015, both mainly for food and beverage establishments in Singapore. For more information about JE Cleantech, please visit our website:

JE Cleantech Contact:

Corporate Communications

Tel: +65 6368 4198

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. JE Cleantech’s actual results may differ from their expectations, estimates and projections and, consequently, readers should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, JE Cleantech’s expectations with respect to future performance and anticipated potential financial impacts.

These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside JE Cleantech’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) dependence on our customer groups’ needs and relationship with them; (2) the inability to obtain or maintain the listing of JE Cleantech Holdings Limited’s ordinary shares on Nasdaq; (3) the ability of JE Cleantech to continue grow its business operations, manage growth profitably, retain its key employees and timing of meeting expected business milestones; (4) changes in applicable laws or regulations; (5) the possibility that JE Cleantech may be adversely affected by other economic, business and/or competitive factors; and (6) other risks and uncertainties identified, including those under “Risk Factors,” contained in the filings with the SEC. The foregoing list of factors is not exclusive. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. JE Cleantech cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. JE Cleantech does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based.

Topic: Press release summary

InvesTech Holdings and Microsoft Jointly Launch Two Enterprise Digital Transformation Solutions

InvesTech Holdings Limited (“InvesTech Holdings”, together with its subsidiaries, “the Group”, Stock Code: 1087.HK), a leading integrated smart IT solutions provider in China, is pleased to announce that its subsidiary Wafer Systems Limited (“Wafer Systems”), which owns the smart office software solutions flagship product Virsical, has started a new collaboration with Microsoft Corporation (“Microsoft”; NASDAQ: MSFT) in the field of the modern workplace, jointly offering enterprises with digital transformation solutions.

Jointly launching enterprise smart workspace solutions empowering the enterprises digital transformation
Wafer Systems and Microsoft joined hands to launch two distinctive enterprise solutions, namely “AIoT-based Smart Building Digital-twin Solution” and “Teams-based Digital Administrative Office Solution”, to empower clients from various industries to undergo digital transformation. The Group and Microsoft aspire to force disruptive innovation to the traditional manpower-based management model, with an aim of delivering groundbreaking solutions to enterprises.

As a digital administrative office solution, “AIoT-based Smart Building Digital-twin Solution” is Virsical AIoT platform-centred and Microsoft Azure-powered solution, which integrates building space management system and various smart hardware and terminals to collect and analyse information such as people’s behaviour, terminal equipment and space status in the building, for the formation of a digital platform where information collection, resource sharing and optimised management are enabled. It also realises digital management of enterprise operational scenarios encompassing facility management, energy saving and emission reduction, office services, monitoring and alarming, emergency services, and information distribution. It effectively helps enterprises achieve intelligent collaboration of people, objects and space, and realise the intelligent transformation of administrative management, thus enhancing the efficiency of building operation and management, as well as reducing operating costs.

“Teams-based Digital Administrative Office Solution” is a corporate digital-twin smart management platform that is built on the foundation of Microsoft Teams with the application of advanced technologies such as the Internet of Things (IoT). It forms a system platform with functions including information collection, resource sharing and optimised management, in order to realise real-time dynamic monitoring and control of equipment operations. The platform covers multiple areas of corporate administration, including workstation management, meeting management, visitor management, access management, smart locker management, smart washroom management and space asset management, etc. It helps corporates achieve the intelligent management of people, objects and space while improving the efficiency and precision of real-time decision-making. Meanwhile, it drives enterprises to attain smart transformation of administrative management and fulfil green and low-carbon operations in office buildings.

Leveraging its professional standards and capabilities, alongside industry-leading solutions, Wafer Systems is highly acclaimed by Microsoft and has become the only partner in China being awarded the “Microsoft Best IoT Partner of the Year”. Driven by the mutual recognition of capabilities and mission, Wafer Systems and Microsoft have deepened their partnership through intensive collaboration in various fields.

Forming strong alliance and strategically deepening collaboration in the field of smart office
In November 2021, with its cutting-edge research and development (R&D) capabilities and advanced solutions being highly recognised by Microsoft, the Group ranked first in Microsoft Teams Hackathon with “Virsical Automated Visitor Registration Solution”, and won the title of Microsoft Gold Partner in December 2021. In early 2022, Wafer Systems’ “Virsical AIoT Solution” officially entered Microsoft laboratory and was empowered by Microsoft laboratory’s technology and equipment. Bolstered by the full support of Microsoft experts and laboratory engineers, the Group has accelerated the implementation of Wafer Systems’ space management and facility management solutions in the new-generation building parks. Through the integration of the existing solutions by Microsoft AIoT services, subsequent costs for implementation are reduced. The entry facilitates the integration of Virsical and Microsoft in terms of AIoT solutions, thus promoting the incubation and implementation of more technical solutions while allowing the two parties to explore the high-potential AIoT field together. Currently, several Virsical software products, namely MetaVisitor, MetaWorkspace and MetaMeeting, were successively launched on Microsoft Teams, offering Microsoft Teams users a brand-new office experience. In addition, the Group has recently participated in Microsoft IoT Project Dragon, during which “Virsical Smart Space Solution” was announced as a key solution in the smart space field and successfully gain wide recognition in the industry.

By continuously strengthening and consolidating each other’s advantages, the Group and Microsoft have reached mutually beneficial cooperation. The two parties have also carried out holistic collaborations in various fields, to create interconnected and visualised smart office spaces spanning across scenarios including office spaces, buildings and parks, with a view to improving corporate efficiency and driving the digital transformation of the Group’s Fortune 500 clients.

Mr. Ringo CHAN, Chairman and Chief Executive Officer of InvesTech Holdings, said, “Capitalising on Microsoft’s outstanding technical capability and exhaustive list of product matrix, we are able to effectively optimise our solutions to provide clients with better products and services, thus expanding our market share in the promising Chinese market. As a Microsoft Gold Partner and a leader in the smart office industry, the Group expects to join hands with Microsoft to create smart space management solutions through leveraging technologies namely Microsoft Cloud’s IoT, digital-twin and AI technology, as well as fostering integration with applications and management systems in existing traditional headquarters buildings. In the future, to give full play to complementary advantages, the Group will deepen its partnership with Microsoft and establish in-depth cooperation in fields such as smart office, to jointly explore enterprise metaverse.”

Ms. YIN Bing, Director of Asia IoT Partner Business Unit of Microsoft, said, “We are pleased to collaborate with our outstanding partner Wafer Systems and jointly create innovative solutions. It is Microsoft’s mission to empower every person and every organisation on the planet to achieve more. Wafer Systems’ innovative smart office solutions work well with Microsoft’s industry-leading products such as Azure IoT and Teams, to provide enterprises with convenient tools for efficient management. Going forward, Microsoft will continue to support Wafer Systems in product innovation for the provision of industry-leading Microsoft platform-based solutions to more enterprise clients.”

About InvesTech Holdings Limited
InvesTech Holdings Limited (Stock code: 1087.HK) was listed on the main board of the Hong Kong Stock Exchange in 2010. As a leading integrated smart IT solutions provider with more than 30 years of experience in the IT industry, the Group is principally engaged in IT infrastructure system integration and smart office software solutions businesses. The Group has a strong presence in China, with more than 10 offices nationwide with a research and development centre in Xi’an.


Topic: Press release summary

Ching Lee Holdings (3728.HK) earns HK$1.54 billion of total contract values

Ching Lee Holdings Limited (“Ching Lee” or “The Group”(1), stock code 3728.HK) signed about ten contracts for construction projects with various property developers at the end of June this year. The accumulated unfinished contract values of approximately HK$1.54 billion marked a historic record of doubling from year on year and compared to the general period before the outbreak of COVID-19 in 2018, it was a 50% increase. These are unprecedented results in history.

Thanks to the confidence of major Hong Kong property developers in the properties industry and their support of the Group, Ching Lee has been awarded several high-quality superstructure construction projects, covering traditional luxury residential areas such as Prince Edward Road West in Ho Man Tin, the Happy Valley district, the Central district and the mid-levels of Hong Kong Island, etc. Highlights of the reconstruction include developing a 25-storey boutique-style building for 69 residential units, as well as participating in the renovation of the hotel and rebuilding it into a residence for rental purposes. In addition, the Group has added superstructure, substructure, and RMAA(2) projects in Soy Street in Mongkok, Ma Tau Wai Road in Hunghom, Cheung Sha Wan Road, and To Kwa Wan in response to the Hong Kong Government’s Urban Renewal Plan.

Since the outbreak of COVID-19 for more than two years, all walks of business have been struggling. The operation of the construction industry has been adversely affected by the problems of delaying transportation and the price rise of raw materials. Despite the difficulties, Ching Lee did not retreat, but also swam upstream and achieved a great year. In recent years, Ching Lee has seized opportunities to invest in property markets including the success of the investment in the AVA228 residential project of Sham Shui Po in 2018 and the acquisition of the commercial and residential project in To Kwa Wan this year with invested capital of HK$24 million, accounting for 20% of the total investment. Ching Lee has gradually and successfully transitioned from being a contractor to a developer through its experience and expertise in the construction industry.

Commented by the Group Chairman Mr. Ng Choi Wah who is a developer and a contractor, “I am confident to be able to run the whole process in the property industry from construction to sales.” Mr. Ng also expressed optimism about the overall market demand and the current business situation. He also expected the operation to continue performing well in the coming year.

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Notes to editors:

(1). Ching Lee Holdings Limited (“Ching Lee” or “The Group”)

Ching Lee Holdings Limited, a limited liability company incorporated under the laws of the Cayman Islands, is a contractor in Hong Kong with over 23 years of experience in public and private sectors. The principal activities of Ching Lee Holdings and its subsidiaries are the provision of construction and consultancy works and project management services in Hong Kong, engaged in providing substructure building works services, superstructure building works services, and repair, maintenance, alteration and addition (RMAA) works services. Ching Lee Holdings Limited was transferred from GEM board to the main board in HKEx on 18 September, 2017 with stock code Company website:

(2). RMAA

RMAA services work for existing structures. The scope of RMAA works consists of improvement, fitting-out works, renovation works, restoration works and external works.

Topic: Press release summary

Seng Fong Holdings Berhad Debuts on Main Market of Bursa Malaysia

Seng Fong Holdings Berhad, a rubber processor producing and trading Standard Malaysia Rubber and premium grade block rubber, made a successful debut on the Main Market of Bursa Securities Malaysia Berhad, opening at RM0.75 per share with an opening volume of 10.8 million shares, which is the same as the initial public offering (IPO) price of RM0.75 sen per share.
Seng Fong’s market capitalisation at listing is RM389.22 million, and the Company was listed under the stock name, SENFONG and stock code, 5308.

The Chairman of Seng Fong, Mr. Ng Ah Bah @ Kok Yee, thanked the Securities Commission Malaysia, Bursa Securities, Hong Leong Investment Bank Berhad (HLIB) and other professionals involved in the IPO, and highlighted that the listing provides the Company the opportunity to realise its immediate objectives as well as investing in environmental, social, and governance (ESG) initiatives.

“Going forward, we will be well-positioned to capture opportunities arising from the increasing demand from our existing customers as well as from new customers as we ramp up production through the hiring of more people for a second shift and implementing ESG initiatives to make our business more sustainable.”

“Building a sustainable business also requires the support of our shareholders. Thus, we intend to distribute at least 50% of our annual net profit as dividend to shareholders, subject to the approval of the Board of Directors and shareholders.”

Block rubber is driven by the automotive industry with approximately 70% of global natural rubber being used for tyre manufacturing. Going forward, the world vehicle sector is anticipated to grow at a 5-year (2021 to 2025) CAGR of 7.03% to 105.0 million units.

Seng Fong is raising RM68.1 million from the IPO. From the proceeds, RM19.7 million has been allocated for working capital requirements including purchase of raw materials and the hiring of additional workers; RM37.9 million for the repayment of bank borrowings that include the partial funding for the solar system units, RM6.3 million to fund the installation of the biomass system units and RM4.2 million for listing expenses.

The installation of the solar system is estimated to achieve cost-savings of approximately RM2.6 million per annum from electricity costs and a further RM3.5 million per annum from diesel costs through the installation of the biomass system.

For the financial year ended 30 June 2021, the Company’s export market share of block rubber stood at 11.8% based on its export output of 121,404 metric tonnes (“MTS”) against the country’s total export volume for block rubber of 1.03 million MTS in 2021. Seng Fong’s revenue is almost entirely derived from exports, with the primary markets being China, Hong Kong, Singapore, and Taiwan.

The block rubber produced by Seng Fong are sold directly to end-user customers, majority are tyre manufacturers, and are also sold to international rubber traders. Block rubbers which are sourced from international rubber traders and/or natural rubber processors, for trading purposes, are sold to tyre manufacturers.

HLIB is the Principal Adviser, Underwriter and Placement Agent for the IPO.

Seng Fong Holdings Bhd:

Pictured (from left):
– Mr. Phang Siew Loong, Head of Equity Markets, Hong Leong Investment Bank Berhad
– Mr. Shim Choon Lim, Co-head of Corporate Finance, Hong Leong Investment Bank Berhad
– Ms. Lim See Tow, Independent Non-Executive Director, Seng Fong Holdings Berhad
– Mr. Jimmy Er Tzer Nam, Non-Independent Executive Director
– Mr. E Tak Bin, Non-Independent Executive Director, Seng Fong Holdings Berhad
– GONG –
– Mr. Er Hock Lai, Managing Director, Seng Fong Holdings Berhad
– Mr. Ng Ah Bah @ Kok Yee, Independent Non-Executive Chairman, Seng Fong Holdings Berhad
– Ms. Lee Jim Leng, Group Managing Director/Chief Executive Director, Hong Leong Investment Bank Berhad
– Ms. Lim May Wan, Independent Non-Executive Director, Seng Fong Holdings Berhad
– Mr. Chong Yeaw Kiong, Independent Non-Executive Director, Seng Fong Holdings Berhad
( )

Topic: Press release summary