Hatten Land Subsidiary HTPL Signs Definitive Agreement with Frontier to Operate at Least 1,000 Cryptocurrency Mining Rigs in Malaysia

SGX Catalist-listed Hatten Land Limited (“Hatten Land”; SGX: PH0) said today it has signed an agreement with Frontier Digital Asset Management Pte. Ltd. (“Frontier”) to share proceeds from jointly operating at least 1,000 cryptocurrency mining (cryptomining) rigs within the Hatten Group’s properties in Malaysia.

Cryptomining rigs will be installed starting from Q42021 in phases under the binding strategic collaboration and management agreement between Hatten Land’s wholly-owned subsidiary Hatten Technology (S) Pte. Ltd. (“HTPL”) and Singapore-based Frontier, which currently operates over 700 cryptomining rigs in Singapore.

Hatten Land recently announced that it would re-purpose its retail malls in Melaka for digital activities such as cryptomining and e-commerce. These activities will leverage on existing infrastructure and lower energy costs in Malaysia. Such costs may be lowered further as Hatten Land installs solar panels on malls in an effort to turn its footprint of malls into a hub for energy-efficient or ‘green’ cryptomining.

Hatten Land and its parent company, the Hatten Group conglomerate are the leading developers in Melaka, operating six retail malls with combined floor space of more than six million square feet in the historical Malaysian city, where it also owns four hotels.

Under the terms of the agreement, Frontier will install, operate, manage and maintain at least 1,000 cryptomining machines at properties owned or managed by Hatten Land in Melaka. The rigs will operate 24 hours each day, including public holidays and weekends and will mine Bitcoin (“BTC”) initially, with alternative coins to be considered in the future.

HTPL will obtain a share of the net proceeds after deducting operational and management expenses and any share due to the owners of the cryptomining rigs.

Frontier will conduct cryptomining activities solely with HTPL in Melaka, and both parties also have an exclusive right-of-first-refusal to participate in any business opportunity to carry out any cryptomining activities outside Melaka but within Malaysia.

Frontier, founded by Bryan Zhou together with two other National University of Singapore (NUS) business undergraduates, is on the mission to provide easier access for retail and institutional miners around the globe. Aside from mining, they are especially focused on blockchain ecosystem and digital asset generation. As a fast-growing digital asset management company, Frontier has successfully secured investments from investors in Mainland China, Hong Kong and ASEAN regions. With more plans for expansion, Frontier is looking to establish a strong foothold within the ASEAN region and contribute towards a more sustainable way of cryptocurrency mining.

Hatten Land recently signed a Memorandum of Understanding (MoU) with SGX Mainboard-listed Singapore Myanmar Investco Limited (“SMI”; SGX: Y45) to procure up to 2,000 rigs. Combined with this agreement, Hatten Land will see a total of up to 3,000 rigs operating at its properties.

The Group has also signed a Strategic Partnership Agreement with Bursa-listed Nestcon Berhad to install solar panels on the roofs of some of its properties in Melaka. This initiative will enhance its sustainability efforts and help the Group conduct ‘green’ cryptomining activities in Melaka.

Dato’ Colin Tan, Executive Chairman and Managing Director of Hatten Land, said: “The definitive Agreement with Frontier underscores our commitment to pivot to ‘green’ cryptomining activities in Melaka. We will leverage on Frontier’s proven expertise to develop cryptomining hubs starting in Melaka.

Hatten Land is re-purposing its extensive mall footprint as part of a broader strategy that includes blockchain activities, online-to-offline commerce and renewable energy. We believe this Agreement will augur the transformation of Hatten Land’s assets into a hub for blockchain and other digital activities that will contribute to the growth and transformation of Melaka.”

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 SGX Catalist board on 28 February 2017 after the completion of a reverse takeover of VGO Corporation Limited. For more information, visit: www.hattenland.com.sg.

Share information available on 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


Topic: Press release summary

NSE Subsidiary, Aujas Cybersecurity Unveils its Next-Gen Cyber Defense Center

Global Cybersecurity services provider, Aujas Cybersecurity announced the launch of its next-gen Cyber Defense Center (CDC) in Mumbai. The center was unveiled during a virtual event themed – “Automating Cybersecurity for Fintech Vertical”. The Cyber Defense Center offers an integrated, scalable, and automated approach to security and enables faster detection and response to complex threats. The CDC is an effective solution in the digital transformation journey of any enterprise. It can secure digital landscapes with services such as 24×7, 360-degree security monitoring and detection, incident management, remediation, security automation, threat hunting, security analytics, incident discovery, and response.
 

Aujas CDC offers proactive, ML-driven threat detection, monitoring, and response capabilities through Security Orchestration and Automation and Security (SOAR) and Security Information and Event Management (SIEM). Due to the interoperability of multiple security technologies, Aujas CDC can meet the rising demand to adopt proactive threat detection, investigation, and response capabilities.
 

“The Cyber Defense Center of Aujas is an effort in creating a new-age platform to identify the digital assets of the company deployed in cyberspace while monitoring and protecting them. I am very happy to say that this is our second Cyber Defense Center, the first one is in Bengaluru. We are also in the process of establishing one each in Saudi Arabia and the USA,” said Dr. N. Muralidaran, Chairman, Aujas Cybersecurity, Managing Director & CEO – NSEIT Ltd.

The CDC is intelligent and agile to identify sophisticated threat vectors through contextual awareness and threat intelligence. This can help enterprises stay ahead of complex attack vectors such as Distributed Denial of Service, spear phishing, ransomware, mobile malware, insider threats, and IoT exploitations.

“The global capital market faces risks of market manipulation, financial fraud, and denial of service attacks. The cost of cyber incidents is immense and undermines the global financial markets’ integrity. Traditional security approaches need to transform to a robust security framework inorder to mitigate complex, sophisticated threats, this is what we intend to achieve through Aujas Cyber Defense Center,” said Mr Sameer Shelke, CEO & Co-founder, Aujas Cybersecurity.
 

“The Aujas Cyber Defense Center (CDC) offers a unified approach to Cybersecurity. This CDC enables the alignment of people, processes, and technologies and is also the center of excellence in security for the capital market ecosystem,” said Mr Vikram Limaye, Managing Director & CEO, NSE Ltd.
 

Dr. Gulshan Rai, First Director-General of CERT, First National Cybersecurity Coordinator, sharing his views on the security trends in fintech sector said, “Fintech service providers are the torch bearers in the digital financial services industry, particularly in the post-COVID world. However, cybercrime is a hindrance, and fintech firms must focus on strong cyber resilience to ward off this risk. This event will be a step forward in driving awareness on cyber resilience in the fintech sector to make it robust and resilient.”
 

Aujas has a strong international presence with steadfast focus on building and transforming Cybersecurity postures of global businesses. The company’s mission is to help enterprises strengthen security resilience by minimizing the occurrence of attacks, threats, and risks so that they can drive change, innovate, and accelerate growth.
 

About Aujas Cybersecurity

Aujas Cybersecurity is an enterprise security service provider for organizations across North America, Asia Pacific, and EMEA regions. Aujas has deep expertise and capabilities in Identity and Access Management, Risk Advisory, Security Verification, Security Engineering & Managed Detection and Response services. By leveraging innovative products and services, Aujas helps businesses build and transform security postures to mitigate risks. The service focus is to strengthen security resilience by minimizing sophisticated attacks and threats while offering 360-degree visibility and protection across enterprise infrastructure.
 

For more details on the Cyber Defense Center, do get in touch with Aujas security experts at contact@aujas.com.