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ACN Newswire

Central Global Bhd Signs MoU for JV to Build RM250M Kwasa Damansara Sewage Treatment Plant

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KUALA LUMPUR, June 9, 2021 – (ACN Newswire) – Main Market-listed Central Global Berhad’s (“CGB) construction arm, Proventus Bina Sdn Bhd (“PBSB”), has signed a Memorandum of Understanding (“MoU”) to explore a proposed joint venture (“JV”) with Multi Scopes Sdn Bhd (“MSSB”) for a sewage treatment plant in Selangor.

CGB executive chairman Dato’ Faisal Zelman

The scope of the proposed JV, in which PBSB would have a 70% effective stake and MSSB an effective 30% stake, would be the engineering, procurement, construction, commissioning, operation and handover of Employees Provident Fund’s wholly-owned subsidiary Kwasa Land Sdn Bhd’s sewage treatment plant in Petaling Jaya, Selangor.

Chief Business Officer of CGB and Director of PBSB Anson Lim said: “For this project, MSSB will manage the technical aspects of the project as they are the technical experts in sewage treatment plants while PBSB will handle the infrastructure part of the project.”

CGB executive chairman Dato’ Faisal Zelman said: “The proposed JV we are exploring through the MoU is another step in the plans we have to expand our construction business. We believe that the sewage treatment plant project would not only enable us to expand our portfolio of construction projects and orderbook but also provide us with consistent revenue for the next five years in Selangor.”

We continue to explore opportunities to grow both the manufacturing and construction businesses of the Group. We have since the beginning of the year won a project worth RM100.5 million for the upgrade of a water supply system in Lahad Datu, Sabah and have had our proposed private placement of 18 million new shares approved by Bursa Malaysia Securities Berhad. Proceeds from the private placement would be used to upgrade the manufacturing arm’s capacity and fund a property project in Penang.”

As of 31 March, 2021, the Group’s construction arm has an orderbook of RM130 million comprising of the Lahad Datu project and the Montage condominium project in Bayan Lepas, Penang.

Please contact the below for more information:
Hakim Juraimi
Tel: +60 12-318 5410
Email: [email protected]


Topic: Press release summary
Source: Central Global Berhad

Sectors: Daily Finance, Engineering, Construct, Engineering, Local Business
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Source: https://www.acnnewswire.com/press-release/english/67203/

ACN Newswire

Central Global Continues with Proactive Business Sustainability Measures Despite Lockdown

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KUALA LUMPUR, July 23, 2021 – (ACN Newswire) – Central Global Berhad (“Central Global” or “Group”), a producer of industrial masking tapes and label stocks as well as general building contractor, will continue to keep a tight rein on cashflow in order to ensure business sustainability following the government’s decision to lengthen the extended movement control order (“EMCO”) in certain areas of Kuala Muda, Kedah where the Group’s factory is located by a further two weeks to 1 August 2021.

Central Global executive chairman Dato’ Faisal Zelman

Central Global’s factory, which produces masking tapes and label stocks, has been closed since 5th July 2021 given its location in Kuala Muda which is currently under the EMCO. The factory employs almost entirely locals, with several among the 170 employees having been with the Group for more than four decades.

Central Global executive chairman Dato’ Faisal Zelman said: “We have always been cautious about the outlook for this year given the uncertainties of further COVID-19 outbreaks and while we will continue to tap into opportunities arising from a more fragmented regional competition landscape and the sporadic local supply-chain disruption, we are also mindful of the risks.”

“We have backlog orders to fulfil which will keep factory busy until year end, but operations have been affected due to the EMCO. We are consistently in discussion with the authorities despite of the lock down measures which has been imposed in the EMCO zones. We managed to obtain permission to operate on a partial basis being categorised as an Essential Industry (Packaging) during the period of the MCO 1.0 and we hope that the government will consider applying the similar regulations for the current EMCO as well. At the same time, we want to reassure all stakeholders that the management will do all it can to ensure that business sustains and maintain operational efficiency and quality.”

Central Global has two scheduled meetings annually to review the Group’s manufacturing operations’ internal controls and risk management under a risk management framework to mitigate business and operational risks. The Group’s lean manufacturing process ensures that costs are kept under scrutiny while driving productivity and quality through employee suggestion programmes and reward schemes.

“We will monitor the situation and continue to adhere to all standard operating procedures as laid out by the National Security Council and Ministry of Health guidelines to ensure the safety and health of employees and vendors. In the meantime, we have to manage our customers’ expectation in fulfilling their orders,” Faisal concluded.

For more information, please contact Hakim J. Munif at +60 12-318 5410 or [email protected].


Topic: Press release summary
Source: Central Global Berhad

Sectors: Engineering, Construct, Engineering, Local Biz
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Source: https://www.acnnewswire.com/press-release/english/68235/

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ACN Newswire

Dynafront Successfully Lists on LEAP Market of Bursa Malaysia

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KUALA LUMPUR, July 23, 2021 – (ACN Newswire) – Dynafront Holdings Berhad (“DynaFront” or the “Company”), an insurance technology specialist, made a successful debut on the LEAP Market of Bursa Securities Malaysia Berhad (“Bursa Securities”) today at 23 sen per share, which was 2 sen or 9.6% higher than its offer price of 21 sen per share.

L-R: DynaFront Non Independent Non Executive Director Mr. Chan Choong Wai; DynaFront Executive Director/Group Chief Operating Officer Ms. Gan Hui Ping; DynaFront Managing Director/Group Chief Executive Officer Mr. Chan Eng Lim

The Company and its subsidiaries (“Group”) specialises in developing and providing proprietary and customised enterprise information technology (“IT”) solutions for a broad range of life insurance companies, including conventional life insurers, Takaful operators, independent corporate life insurance agencies and group assurance operations. DynaFront’s solutions, offered either as proprietary software products or managed services, have been successfully deployed to markets in Malaysia, Indonesia, Singapore, Philippines, Taiwan and Hong Kong.

The Group offers a comprehensive suite of software solutions extending from front-end sales automation systems to back-end individual and group life administration systems including PrecentiaCMS for front-end sales automation system, PrecentiaLife for back-end individual life administration system as well as PrecentiaGroup, a suite of back-end group life administration systems for employee benefits. DynaFront also offers PrecentiaTakaful supporting the Wakalah, Mudharabah and hybrid concepts and can be integrated into various Takaful models.

Mr. Chan Eng Lim, Managing Director and Group Chief Executive Officer of DynaFront said during the Listing Ceremony today, “We pride ourselves with the fact that many of our key management staff were formerly from the life insurance industry. Our extensive industry background and in-depth domain knowledge, coupled with our broad IT expertise, have been instrumental not only in the design and engineering of our software solutions, but also to our Group’s success over the years.”

“Moving forward, our Group will continue to expand and evolve our solution offerings by adopting microservices based architecture to deliver consistent, high-quality services with security, reliability and agility in all our solutions to our customers. With this adoption of microservices architecture, we expect our next generation of software solutions to be lightweight with modern technology stacks and AI driven, in our quest to create a smarter insurance ecosystem.

DynaFront is also moving into the virtual insurance space, with the Group’s research and development team focusing on the development and implementation of new mobile applications in wearable technologies, including web-enabled smart devices that use embedded systems, such as processors, sensors and communication hardware, to collect, send and act on data acquired from their environments such as temperature screenings and, movement detections to smart watches and wearable health devices. Real-time syncing and processing of data between wearables and our platform microservices as well as real-time health monitoring will enable life insurance companies to structure insurance products which are more customised and suited for the policy holders.

Hong Leong Investment Bank Berhad is the Approved Adviser, Placement Agent and Continuing Adviser for the listing exercise.

For more information, please contact Hakim J. Munif at +60 12-318 5410 or [email protected].


Topic: Press release summary
Source: Dynafront Holdings Berhad

Sectors: Daily Finance, Daily News, Local Biz
https://www.acnnewswire.com

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Source: https://www.acnnewswire.com/press-release/english/68232/

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ACN Newswire

Cuentas and WaveMax Sign an Exclusive and Definitive JV Agreement for 1,000 Locations to Offer Advertising on WiFi6 Next Generation Patented Technology in Cuentas’ “Bodegas” Network throughout the USA

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MIAMI, FL / ACCESSWIRE, July 23, 2021 – (ACN Newswire) – Cuentas, Inc. (NASDAQ: CUEN & CUENW)(‘Cuentas’), a leading FinTech provider (Top 4 Fintech) of mobile banking, digital wallet and payment solutions focused on Hispanic and Latino communities has signed an exclusive, definitive JV agreement to rollout WaveMax’s SharedWiFI6 patented technology (Wavemax Patent) in 1,000 locations. This Rollout will begin in the New York City metropolitan area with 500 locations in NYC, 330 locations in New Jersey and 170 locations in Connecticut. The agreement also includes plans to roll out the service in other areas throughout the US. The parties will install advanced WiFi6 Access Points and Small Cells in these 1,000 “Bodega Stores” in a 50/50 joint venture. These will become Cuentas premium locations that will be near public train stations and mass transit hubs and will be offering all Cuentas products and services on secure networks. The WiFi6 service will enhance customer experience while in the Bodega stores, by automatically connecting to SharedWiFi high-speed internet to receive special in-store offers. Users at Cuentas Point of Sale (POS) locations will also receive promotions for the Cuentas GPR card and discounted products sold through the Cuentas Mobile App.

This unique agreement that our organizations are bringing to the market will allow Cuentas to enter the advertising ecosystem using major brands to advertise through mobile handsets and additionally Cuentas products & services will benefit from 50% discounts for most favored nation pricing on this digital advertising platform.

WaveMax’s SharedFi patented technology allows for a shared network of WiFi access points and small cells. The user has access to this shared network and, if he has opted in, be impacted with location-based advertising. These ads are configured by advertisers using WaveMAX’s dashboards targeting, manually or programmatically, the right audience, at the right time, and the right place.

“I am proud that we were able to sign a definitive agreement with WaveMax for their state of the art technology. This is the first time that Cuentas is announcing to its public shareholders that it was able to complete this unique agreement and I am looking forward to expand this network for the rest of Cuentas’ Bodega network nationwide,” said Arik Maimon, Cuentas Founder and Interim CEO.

“We are very pleased to enhance our original commitment to the first 1,000 bodegas in Cuentas’ network. We are happy to add value to Cuentas’ unique proposition in the US market and its Mobile Banking App,” said Eduardo Velasco, WaveMAX CEO. (Shared Wi-Fi 6 Network)

“Cuentas was recently classified and deemed as a technology sector vertical (Technology Sector), we are very excited for the upcoming events of our company and we are very confident that Cuentas has a bright future,” said Michael De Prado, Founder and Executive Vice Chairman of Cuentas.

ABOUT CUENTAS

Cuentas, Inc. (Nasdaq: CUEN & CUENW) is a Fintech company utilizing technical innovation together with existing and emerging technologies to deliver accessible, efficient and reliable mobile, new-era and traditional financial services to consumers. Cuentas is proactively applying technology and compliance requirements to improve the availability, delivery, reliability and utilization of financial services especially to the unbanked, underbanked and underserved segments of today’s society. Its products are supported by its core methods, procedures, contracts and intellectual property. For more information, visit https://cuentas.com.

ABOUT WAVEMAX CORPORATION

WaveMax is a WiFi-5G sharing company leveraging US patented technology to create an ecosystem monetizing mobile interactions between Telcos, Retailers, Providers, Apps, and Users. WaveMax ecosystem in 2020 supported millions of Wi-Fi accesses and it is rapidly growing, creating new synergies and network effects.

FORWARD-LOOKING STATEMENTS

This news release contains ‘forward-looking statements’, as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as ‘estimate’, ‘anticipate’, ‘believe’, ‘plan’ or ‘expect’ or similar statements are forward-looking statements. Forward-looking statements contained in this news release include statements relating to other publicly available information regarding Cuentas.

Contact:

Cuentas:
[email protected]
800-611-3622

WaveMax:
[email protected]
512.902.8038

SOURCE: Cuentas, Inc.


Topic: Press release summary
Source: Cuentas, Inc

Sectors: Telecoms, Cards & Payments, Wireless & Mobility, Funds & Equities, Blockchain, Startups


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Source: https://www.acnnewswire.com/press-release/english/68228/

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Outplay Raises USD 7.3 Million to Make Outbound Sales Scalable

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SAN FRANCISCO, CA, July 22, 2021 – (ACN Newswire) – Multi-channel sales engagement platform, Outplay today announced its $7.3M series A fundraise from Sequoia Capital India. Outplay will use the funds raised to invest in technology and hiring exceptional talent across the globe.

Businesses today rely on a combination of inbound and outbound sales models to drive revenues. While the inbound sales process has rapidly evolved over the last 10 years, outbound sales hasn’t. Outbound sales teams typically use high-volume tactics to drive revenue. But this approach is not scalable and the revenue eventually becomes a function of the size of the outbound sales team. This is because outbound sales teams don’t have a data-driven approach for targeting prospects that are most likely to convert and end up spending time emailing or cold-calling hundreds of prospects hoping to convert a few.

Launched in 2019, Outplay is on a mission to change this by bringing predictability to outbound sales and help every salesperson talk to the right prospect at the right time through the right channel. The platform helps outbound sales teams plan, execute, track, measure and optimize interactions between companies and their prospects across multiple channels like email, phone, SMS, social media as well as live chat.

Laxman Papineni, CEO of Outplay commented, “Outbound sales teams are truly the dark horse of the sales organization – the targets are high, but the methods aren’t scientific. Outplay is committed to making outbound outreach data-driven, so that sales teams are talking only to the warmest prospects at any given point across multiple channels, optimizing time and resources. The continued partnership with Sequoia Capital India is a testament to the fact that the sales engagement space, which is poised to be a $5.59B market by 2023, is a huge opportunity for Outplay.”

With Outplay, sales managers can create data-backed sales playbooks to coach their team members and help them achieve their sales targets. The platform’s combination of automation and personalization helps teams start genuine conversations at scale, enabling them to stay on task by using multiple channels through a single interface to drive more meetings. Sales reps are thus able to build a multi-channel outreach plan for their prospects across email, phone, SMS, LinkedIn, Twitter and chat.

For example, Outplay helps sales teams engage with warm prospects by notifying them when their prospect visits their business website. Enabled by Outplay’s industry-first outbound live-chat feature, Magic Outbound Chat, the rep can initiate live chat and have a contextual conversation with the prospect. Customers have been able to qualify prospects faster and grow their pipeline by 300% using the tool alongside inbound chat.

“We continue to be very excited by Outplay’s mission of making every sales rep perform like the best rep on the team. Outbound sales needs are evolving rapidly and reps now need personalized, automated and contextual tools to drive sales which Outplay is successfully enabling. Sales reps spend an average of four hours per day on Outplay, demonstrating the effectiveness of the product which has category-leading customer reviews. Additionally, rapid digitization due to COVID has been a significant accelerant for the business and we believe these tailwinds will continue as outbound sales becomes more digital,” Harshjit Sethi, Principal, Sequoia India

Outplay also offers support to ensure software adoption across customer teams is done within days, not weeks or months. Since the seed fundraise – USD 2 Mn from Sequoia Capital India’s Surge early this year, the company has grown 4X in revenue, 3X in team size and has customers from more than 50 countries. Outplay was a part of the Surge 04 cohort.

About Outplay

Outplay is a multi-channel sales engagement platform that ensures outbound sales teams deliver the most powerful message at the perfect time in the buyer journey through the right channel. With features like dynamic sequencing, magic outbound chat and detailed analytics, Outplay gives sales development representatives (SDRs) and business development representatives (BDRs) the right signals so they only work on the warmest prospects across multiple channels like email, phone, SMS, LinkedIn, Twitter and Chat.

Source: Platodata Intelligence


Topic: Press release summary
Source: Outplay

Sectors: Media & Marketing, PE, VC & Alternatives, Startups
https://www.acnnewswire.com

From the Asia Corporate News Network

Copyright © 2021 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

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Source: https://www.acnnewswire.com/press-release/english/68206/

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