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Daily Archives: May 13, 2019

Behind the Wheel: The Goodwood Estate, in the fast lane for sustainable growth

What does the English ancestral home to the Dukes of Richmond have in common with one of the largest capital goods companies in the world? The Goodwood Estate and CNH Industrial: two global, multi-faceted businesses with a reputation for excellence in their various fields are committed to finding new, innovative and sustainable ways of working. Nowhere does this become more apparent than on Goodwood’s own Home Farm. Find out how an unlikely pairing became a successful partnership in the latest Behind the Wheel webisode: cnhindustrial.com/goodwood_en

London, May 13, 2019

The Goodwood name is synonymous with some of the most glamorous and iconic sporting events in the world but behind the scenes, working tirelessly to support the Estate, is its very own fully organic farm. Sustainability and organic farming are amongst Goodwood’s core values, values which are shared by CNH Industrial (NYSE: CNHI /MI: CNHI), a company at the forefront in the development and implementation of alternative fuel vehicles, precision farming and telematic solutions. The Company’s brands CASE Construction Equipment, New Holland Agriculture and IVECO are all involved in the partnership with Goodwood, from tractors to combines, from excavators to wheel loaders, to supplying commercial vehicles – no other single company could support all of the Estate’s varied vehicle needs.

Nestling in the rolling hills of the South Downs near the south coast of England, the farm has one of Britain’s first 100% organically fed dairy herds, and is also home to a flock of sheep, suckler cows and pigs. A “closed loop” system has been created where all the fodder for the animals is grown on the farm which in turn also runs its own butchery, bottles its own milk and makes its own cheeses. Most of the farm’s produce is delivered to the restaurants on the Estate and around the South East of the UK as well as used at the various sporting events.

This latest episode of Behind the Wheel shows the partnership at work and demonstrates how CNH Industrial’s brands are working together with Goodwood to help increase efficiency, productivity and sustainability on the Estate: cnhindustrial.com/goodwood_en

CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com

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Media contact:

Laura Overall
Corporate Communications Manager
CNH Industrial
Tel. +44 (0)2077 660 338
E-mail: mediarelations@cnhind.com
www.cnhindustrial.com

Attachments

 

Sequa Petroleum N.V. Annual Report 2018 and Notice of the Annual General Meeting of Shareholders

Sequa Petroleum N.V. Annual Report 2018 and Notice of the Annual General Meeting of Shareholders

The Sequa Petroleum N.V. (the Company) Annual Report 2018 is now available to download.

The Company has also published the agenda of the Annual General Meeting of Shareholders (AGM) to be held on 18 June 2019, at 11:00 a.m. hours CET.

On May 10th the Company’s Directors signed a new shareholder agreement with the Company’s main shareholder Sapinda, relevant details of which are reflected in the AGM documents.

A copy of the Annual Report and AGM documents is available on the Company’s website at www.sequa-petroleum.com

Greatech to raise RM73.05 mln from IPO

KUALA LUMPUR, Greatech Technology Bhd, an industrial automation solutions provider, aims to raise RM73.05 million from its initial public offering (IPO), said chief executive officer Tan Eng Kee.

Of the total proceeds, RM18 million would be utilised for business expansion and development and marketing activities, RM5 million for capital and research and development expenditure and RM36.55 million for working capital, he said.

Meanwhile, the remaining RM8.5 million would be used for repayment of bank borrowings and defrayment of IPO expenses, he said.

“We try to expand our footprint in the US market, so we are going to establish an office, engineering sales and services support in the country and small portion in China.

“We are looking at the east coast, Arizona and some in the area of Silicon Valley…(hope to start to commence) in the second half of this year,” he told press conference after launching the company’s prospectus here today.

Greatech Technology will be listed on the ACE Market of Bursa Malaysia Securities Bhd, offering 119.75 million shares, where 18.78 million of the shares are eligible for the public, with an IPO price of 61 sen per share.

The group is slated for listing on June 13, with a market capitalisation of RM381.86 million.

Asked on why the US market is selected, Tan said the country is always ahead in terms of technology innovation and believed its unemployment rate is much better than other regions.

“Majority of the expansion allocation will be set aside for US market,” he said.

For the financial year ended Dec 31, 2018, the group recorded a revenue of RM219.58 million and tax after profit of RM31.72 million with approximately 90 per cent of the revenue derived from overseas.

Its 2017 revenue amounted to RM93.91 million, higher than RM22.7 million it chalked in 2016 and RM21.39 million in 2015.

Tan said the group targeted between 10 and 15 per cent growth in revenue this year, backed by a slew of new projects coming up from the new and existing clients.

Also present to witness the launch of the prospectus was Malaysian Technology Development Corporation (MTDC) CEO Datuk Norhalim Yunus who believed Greatech Technology’s excellent growth trajectory would easily push the IPO for premium performance during the listing.

The group is in the right industry, namely in automation and robotics, besides solar, which currently expanding rapidly.

I believe they have a bright future with a formidable list of clients, he said.

The group received fundings from MTDC for Commercialisation of Research and Development Fund, Technology Acquisition Fund and Business Growth Fund.

Source: BERNAMA (News Agency)

TH posts Q1 net profit of RM440 mln on stronger financial position

KUALA LUMPUR, Lembaga Tabung Haji (TH) posted a sustainable performance by recording a net profit of RM440 million in the first quarter ended March 31, 2019, as a result of the successful completion of its restructuring and rehabilitation process implemented at the end of December 2018.

During the quarter, TH’s earnings totalled RM623 million.

TH, in a statement today, said its financial position strengthened with total assets exceeding total liabilities of RM1.2 billion, supported by improved portfolio investment performance, as well as overall healthy quality of assets after impairment was made in 2018.

TH expects its revenue will continue to increase from the second quarter onward with the issuance of sukuk by Urusharta Jamaah Sdn Bhd which will provide a return of almost RM800 million a year and the implementation of a new investment adjustment process.

During the three-month first quarter, more than 91,000 new savings accounts were opened, thereby increasing the total number of TH depositors to 9.3 million, it said.

“As an institution that helps Muslims save for the haj, the fund management operations remained smooth without any interruption during the quarter.

TH recorded new savings of RM4.3 billion, while withdrawals accounted for RM4.6 billion,” it said.

In the run-up to the haj season later this year, TH said extensive preparations were made during the quarter, including the implementation of various initiatives to ensure quality services to all pilgrims.

It said among the initiatives to be undertaken for this year’s haj season are improving the pre-depature process in the country which will shorten the waiting period at the Jeddah and Madinah haj terminals.

TH will also provide air-conditioned tents in Arafah to provide comfort, as well as address health-related risks due to the hot weather and prepare Malaysian meals for the pilgrims in Masyair (the grand assembly site).

The first haj flight is scheduled to depart on July 4, 2019, while the last flight on Aug 4, 2019, it added.

Source: BERNAMA (News Agency)

Asdion Berhad Secures Tumpat Supply Base Project under PDUJVA

KUALA LUMPUR, Asdion Berhad (Asdion) entered into a Project Development Unincorporated Joint Venture Agreement (PDUJVA) with Kingdom Infra Holdings Sdn Bhd on May 6.

By entering into the PDUJVA, the company therefore rescinded the Heads of Agreement that was announced on March 15, 2019.

In a statement today, PDUJVA is to enable the Company to commence initial business operations by the third quarter of 2019, whilst preserving the salient features of the call including the valuation, profit guarantee and dry bulk offtake shipment volumes.

Highlight of the deal includes, five years services Offtake Agreements in dry bulk handling, with specific profit guarantee for the upcoming financial years.

Furthermore, the Offtake Agreements stipulates dry bulk shipment from Tumpat, Kelantan to China for a period of five years, with total guaranteed volume of 7,200,000 metric tons of minerals dry bulk shipment during the period, giving a guaranteed RM151 million in revenue.

The supply base upon completion of the first phase, would have capacity to handle 500,000 metric tons of dry bulk per month.

Tumpat is the last station in Kelantan to connect the resumption of the RM44 billion East Coast Rail Link (ECRL) project, recently announced by the federal government.

Source: BERNAMA (News Agency)

Asdion Berhad Secures Tumpat Supply Base Project under PDUJVA

KUALA LUMPUR, Asdion Berhad (Asdion) entered into a Project Development Unincorporated Joint Venture Agreement (PDUJVA) with Kingdom Infra Holdings Sdn Bhd on May 6.

By entering into the PDUJVA, the company therefore rescinded the Heads of Agreement that was announced on March 15, 2019.

In a statement today, PDUJVA is to enable the Company to commence initial business operations by the third quarter of 2019, whilst preserving the salient features of the call including the valuation, profit guarantee and dry bulk offtake shipment volumes.

Highlight of the deal includes, five years services Offtake Agreements in dry bulk handling, with specific profit guarantee for the upcoming financial years.

Furthermore, the Offtake Agreements stipulates dry bulk shipment from Tumpat, Kelantan to China for a period of five years, with total guaranteed volume of 7,200,000 metric tons of minerals dry bulk shipment during the period, giving a guaranteed RM151 million in revenue.

The supply base upon completion of the first phase, would have capacity to handle 500,000 metric tons of dry bulk per month.

Tumpat is the last station in Kelantan to connect the resumption of the RM44 billion East Coast Rail Link (ECRL) project, recently announced by the federal government.

Source: BERNAMA (News Agency)

Leong Hup’s Q1 net profit rises to RM60.59 million

KUALA LUMPUR, Leong Hup International Bhd’s net profit for the first quarter (Q1) ended March 31, 2019, rose to RM60.59 million from RM52.69 million during the same period last year.

Revenue increased 11.9 per cent to RM1.51 billion from RM1.35 billion previously.

In a filing with Bursa Malaysia today, Leong Hup said for the quarter under review, the livestock and poultry-related products segment recorded a 2.7 per cent improvement to RM859.65 million from RM837.17 million recorded in same quarter last year.

The rise in revenue was primarily due to an increase in the sales volume and average selling price of eggs in Malaysia and an increase in the average selling price of broiler day-old-chicks in Indonesia, it said.

Meanwhile, revenue from the feedmill segment grew 27.0 per cent to RM643.63 million compared with RM506.67 million previously, driven by the increase in sales volume and average selling livestock feed price in Indonesia and Vietnam.

With a number of expansion plans in the pipeline, we are optimistic the group will be able to achieve a positive result for the 2019 financial year, said executive director and group chief executive officer Tan Sri Lau Tuang Nguang.

Leong Hup will be listed on the Main Market this Thursday.

Source: BERNAMA (News Agency)