Day: August 24, 2021

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ITA Announces Next Steps Towards Beginning of Operations

ROME, Aug. 24, 2021 (GLOBE NEWSWIRE) — During August 26 ITA will start the sales for flights operating from October 15. Beginning of sales follows the achievement of the certifications (Air Operator Certificate and Operating License) that ITA obtained from ENAC (Italian Aviation Authority) on August 18, 2021. The Board of Directors of ITA, chaired by Chairman Alfredo Altavilla, met today and approved to transform the non-binding offer already sent on August 16 to the Extraordinary Administration of Alitalia into a binding offer which includes 52 aircraft, a related number of slots, as well as contracts and complementary assets from the Aviation sector in order to start operations on October 15.

Starting from August 26, ITA will launch a campaign to collect applications for professional figures to be subsequently included in the flight and ground operational areas and in the staff areas. In line with the values and strategy of the airline, which decisively focuses on the digitization of business processes to develop a flexible and lean organization, the process of collecting applications will take place on the website with the assistance of innovative digital platforms. ITA has convened the trade unions on 25 August at 10:30 with the aim of starting the negotiation of new working conditions in line with market practices. Furthermore, ITA is adopting a policy in which all employees will be required to obtain the Green Pass, in line with the anti-Covid procedures and to safeguard the health of employees and customers.

The Chairman of ITA, Alfredo Altavilla, said: “An indispensable condition and our top priority is to complete negotiation with Alitalia under Extraordinary Administration for the sale of the Aviation perimeter as soon as possible. We have confidence in a constructive interaction with the trade unions in order to provide ITA with a new innovative employment contract capable of ensuring structural competitiveness of the airline with competitors.”

The Chief Executive Officer and General Manager of ITA, Fabio Lazzerini, said: “In recent days, with the certifications obtained from ENAC, we have reached an important milestone in the history of ITA. Now we are preparing to achieve another fundamental result: the start of sales. Now we must achieve new and complex goals in view of the launch of operations on October 15 and numerous projects must be completed in order to create an efficient, sustainable, digital airline, capable of facing future challenges with flexibility and in full discontinuity with the past.”

For more information:
LaPresse SpA Communication and Press Office Director
Barbara Sanicola – barbara.sanicola@lapresse.it
+39 02 26305578 M +39 333 3905243

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Conagen Expands Natural Preservation by Fermentation

Bedford, Mass., Aug. 24, 2021 (GLOBE NEWSWIRE) — As the “clean label” trend thrives in many consumer product categories, Massachusetts-based biotech Conagen announced the launch of a natural preservative, p-Coumaric Acid (PCA). Conagen’s PCA is made by fermentation and expands the natural preservatives offered by its commercialization partner Blue California.

The natural preservation market is driven by consumer exploration of clean-label food, beverage, personal care, and cosmetic product which do not contain artificial ingredients while still possessing extended shelf life.

In a published Mintel report Feb. 2021, U.S. Consumers were polled on relating ‘naturalness’ with ‘health, “43% of U.S. consumers have the perception that “all-natural” is an important factor when choosing healthy food and beverages.”

Food and beverage manufacturers are moving away from artificial ingredients in their processing and packaging methods. Therefore, new sources of natural preservatives, such as Conagen’s natural, fermentation-derived PCA, are ideal for brands to make a seamless change from synthetic preservation ingredients to natural ones.

“Our PCA expands the toolbox for product developers looking for a scalable, low cost-in-use, natural solution for increasing the shelf life of food without interfering with the flavor of their products,” said Conagen’s Vice President of Innovation, Dr. Casey Lippmeier.

PCA is a natural antioxidant and antimicrobial compound found in all plants, primarily peanuts, tomatoes, carrots, basil, and garlic. It is a key constituent of wine, vinegar, and honey.

Conagen produces PCA by an innovative precision fermentation process. This technology enables the cultivation of micro-organisms programmed to create sustainable, natural ingredients with high purity at a price competitive with synthetic PCA. PCA by fermentation is ideal for industrial applications as well.

“A sustainable source of PCA is also desirable as a precursor for different biopolymers and other high-tech biomaterials made with ‘green chemistry,”‘ said Lippmeier.

Green chemicals are a part of the global discussion on climate change and large chemical companies’ accelerating adoption of sustainable materials. “The novel polymers and co-polymers which can be made by fermentation-derived PCA enable the development of environmentally safer bioplastics and new applications in biomedicine,” said Lippmeier.

As an alternative to chemically synthesized compounds like bisphenol-A, PCA is a multifunctional natural and sustainable solution found in food to enable new and novel products by formulators and material scientists.

In the industrial applications space, PCA is ideal in coatings, composites, adhesives, and polymers for biomedical, transportation, aerospace, electronics, and packaging, just to name a few.

Last year, Blue California and Conagen jointly announced the commercialization of a 98% pure natural preservative, Rosavel™ rosmarinic acid, without the intensity of rosemary flavor and color as with most synthetic ingredients.  Another important natural preservative molecule derived from Conagen’s platform technologies is BC-DHQTM taxifolin, which secured GRAS status as announced last May.
About Conagen

Conagen is making the impossible possible. Our scientists and engineers use the latest synthetic biology tools to develop high-quality sustainable nature-based products through systems of manufacturing on a molecular level and fermentation basis. We focus on the bioproduction of high-value ingredients for food, nutrition, flavors and fragrances, pharmaceutical, and renewable materials industries. www.conagen.com

About Blue California

Blue California is a vertically integrated technology company providing innovative ingredient solutions to global partners. With more than 20 years of innovation success, our ingredients are used in commercial products and applications in the industries of nutrition, personal care, healthy aging and wellness, functional food and beverage, and beauty. www.bluecal-ingredients.com

Attachment

Ana Arakelian
Conagen
+1.781.271.1588
ana.arakelian@conagen.com

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Leong Hup’s Q2 net profit surges 87.5 pct to RM30.5 mln

KUALA LUMPUR, Leong Hup International Bhd’s (LHI) net profit surged 87.5 per cent to RM30.50 million in the second quarter ended June 30, 2021 (Q2 FY2021) from RM16.27 million in the same period last year.

In a statement to Bursa Malaysia today, the integrated poultry company said its revenue in Q2 FY2021 jumped 30.1 per cent to RM1.85 billion from RM1.43 billion previously, mainly supported by its livestock and poultry related products segment.

“The segment rose 22.9 per cent to RM992.46 million in Q2 FY2021 from RM807.28 million in the corresponding period a year ago.

“This is attributed to robust sales volume growth and resilient average selling price (ASP) of day-old-chicks in Indonesia and Malaysia, broiler chickens in Malaysia and the Philippines, as well as higher business-to-consumer channel contribution in Malaysia,” it said.

LHI said its feedmill business revenue grew 39.7 per cent to RM858.88 million in Q2 FY2021 from RM614.69 million in the same period last year, as Indonesia and Vietnam reported higher sales volume and ASP of livestock feed.

The company said Indonesia continued to be the largest revenue contributor to the group by contributing RM697.29 million (37.6 per cent) to the group’s total revenue in Q2 FY2021.

This is followed by Malaysia (RM479.33 million or 25.9 per cent), Vietnam (RM438.53 million or 23.6 per cent), Singapore (RM197.80 million or 10.7 per cent) and the Philippines (RM40.86 million or 2.2 per cent).

For the cumulative six-month period ended June 30, 2021 (H1 FY2021), LHI saw its net profit soar 164.9 per cent to RM100.83 million from RM38.06 million previously, while revenue was 23.5 per cent higher at RM3.53 billion from RM2.86 billion in H1 FY2020.

Touching on the upcoming poultry processing plant in West Java, Indonesia, LHI said the plant is slated to begin construction in Q3 2021 and commence operations in early 2022.

“The facility is expected to enable its Indonesian operations to have better control over the sporadic demand-supply imbalance of broiler chickens.

“This would provide some degree of insulation against price volatility of live poultry,” it said.

On the group’s prospects, executive director and group chief executive officer Tan Sri Lau Tuang Nguang is anticipating some short to medium-term headwinds to persist as a result of ongoing fluctuations in the demand and adjustments in the supply of poultry products.

“Movement restrictions to a varying extent are still in force for most of the group’s operating markets.

“The durability of the group’s recovery is, therefore, contingent upon the extent to which the COVID-19 pandemic is effectively controlled and restrictions are eased in each of the group’s operating markets,” he said.

Source: BERNAMA News Agency

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IJM Corp’s net profit rises to RM65.68 mln in Q1

KUALA LUMPUR, IJM Corporation Bhd’s (IJM Corp) net profit surged to RM65.68 million in the first quarter ended June 30, 2021 (Q1 2022) from RM2.05 million in Q1 2021 due to fewer operational disruptions arising from COVID-19 movement control restrictions.

Revenue surged 48.4 per cent to RM1.30 billion during the quarter under review from RM879.8 million previously, the group said in a filing with Bursa Malaysia today.

In a separate statement, chief executive officer and managing director Liew Hau Seng said certain businesses such as port and toll operations — which were classified as essential activities — were able to continue operating during the lockdown, albeit at lower capacities due to reduced business activities and lockdown restrictions.

He said the construction division’s revenue increased by 31.3 per cent year-on-year (y-o-y) to RM377.5 million, mainly due to higher construction activities, improved gross profit margin and lower finance costs.

Revenue from the company’s property division increased 127.9 per cent y-o-y to RM332.1 million, underpinned by higher construction activities, improved gross profit margin and lower finance cost recorded during the quarter, he said.

“The plantation division reported a 31.9 per cent increase in revenue to RM271.7 million in Q1 2022, mainly due to higher commodity prices recorded by both the Malaysian and Indonesian operations,” he said.

Going forward, Liew said despite operating challenges, the group’s financial performance in the first half of financial year 2022 (1H2022) is expected to be bolstered by a sizeable one-off gain from the disposal of IJM Plantations.

He said the financial performance of the construction, property, industry and infrastructure divisions should recover in 2H2022 when operational activities recommence.

Meanwhile, IJM Plantations Bhd recorded a lower net profit of RM60.06 million in Q1 2022 against RM82.12 million in Q1 2021.

Revenue, however, increased 31.9 per cent y-o-y to RM271.72 million due to higher commodity prices during the quarter.

The fresh fruit bunches production in Q1 was lower y-o-y, mainly due to weather effects on the taller palms, the group said.

Source: BERNAMA News Agency

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George Kent posts RM11.79 mln net profit on strong water meter sales

KUALA LUMPUR, George Kent (Malaysia) Bhd posted a net profit of RM11.79 million for the first quarter of the financial year ending March 31, 2022 (1QFY22), mainly attributed to strong sales of its water meters worldwide.

In a filing with Bursa Malaysia today, the manufacturing and engineering services company said revenue stood at RM61.28 million.

The company had earlier changed its financial year-end from Jan 31 to March 31, making no comparison for the quarter ended June 30, 2021.

Chairman Datuk Tan Kay Hock said the metering business continued to perform beyond expectations in spite of the movement controls implemented globally, demonstrating the strength and robustness of its business.

“We are working closely with the Malaysian Public Works Department to ensure the timely delivery of our construction projects.

“We are optimistic of our prospects given the ongoing operating and long-term plans,” he said.

Tan also said that in line with the group’s strategy, it would continue to develop the markets for its existing water meters with its research and development (R&D) team, partners, and specialists to commercialise a range of water meters, including smart meters.

In addition, the chairman said the group is developing new opportunities in the regional railway space, leveraging on its established network with international rail specialists and expertise as a rail systems specialist in domestic railway projects.

George Kent will also design and build a glove manufacturing plant in Lumut Port Industrial Park, Perak, which is owned and operated by Dynacare Sdn Bhd, which is a 40 per cent associate of the group.

Source: BERNAMA News Agency

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KPJ Healthcare records higher Q2 revenue of RM632.83 mln

KUALA LUMPUR, KPJ Healthcare Bhd recorded higher revenue in the second quarter (Q2) ended June 30, 2021 of RM632.83 million compared to RM475.85 million in the same quarter last financial year.

The better revenue was due to a better operational performance aided by a less restrictive movement control order (MCO) 3.0 during the period, the company said in a statement today.

The healthcare group posted a net profit of RM6.96 million in the second quarter compared to RM12.66 million in the same quarter last year.

For the six-month period ended June 30, 2021, the group recorded RM1.24 billion revenue, up 9 per cent year-on-year mainly due to an increase in hospital activities and a higher number of patients.

Half-year net profit was RM19.934 million compared to RM51.19 million for the same period last year.

“The company recorded a total of 758,629 patients in Q2 2021, up 36 per cent compared to 556,042 patients in the previous corresponding quarter, and 1.5 million patients for the first half of 2021 compared to 1.4 million patients for the same period last year,” it said.

On outlook, KPJ Healthcare said it will continue to operate in a challenging environment for the remaining year of 2021.

“As the healthcare ecosystem is being challenged to pivot, adapt and innovate quickly, our focus will cover greater adoption of virtual health and other digital innovations as well as new public-private collaborations,” it added.

Meanwhile, the group currently operates 25 vaccination centres (PPVs) registered with ProtectHealth Corporation including the mega PPVs in Kuala Lumpur and Johor Bahru, as well as one PPV for Industry which provides vaccinations to industries located in Kuching, Sarawak.

“Clocking in at almost 15,000 vaccinations daily makes KPJ Healthcare the largest private healthcare provider supporting the National Immunisation Programme (NIP), having administered a total of 544,711 doses of vaccine to date,” it said.

Source: BERNAMA News Agency

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IOI Corp FY2021 net profit surges to RM1.39 bln on back of higher CPO price

KUALA LUMPUR, IOI Corporation Bhd’s net profit for the financial year ended June 30, 2021 (FY2021) surged to RM1.39 billion from RM600.90 million in the same period last year.

Revenue increased to RM11.25 billion from RM7.8 billion previously.

The plantation group told the stock exchange the better performance was due to higher contribution from all segments.

For the plantation segment, its profit of RM1.21 billion was 72 per cent higher than the RM701.5 million profit in FY2020.

“The higher profit reported was due mainly to higher crude palm oil (CPO) and palm kernel (PK) prices realised, partly offset by lower fresh fruit bunches (FFB) production. Average CPO and PK prices realised for FY2021 were RM3,076 a tonne versus RM2,314 a tonne in FY2020 and RM2,115 (FY2021) a tonne against RM1,375 a tonne in FY2020 respectively,” it said in notes accompanying the results.

The group said its resource-based manufacturing segment’s profit of RM668.0 million for FY2021 was 73 per cent higher than the profit of RM385.1 million reported for FY2020.

“The significant higher profit was due mainly to a higher share of associate results from Loders which included a share of a one-off gain of RM268.3 million from the sale of its refinery located in Rotterdam as well as better performance from North America and Europe. Apart from (that), a lower contribution was reported by all sub-segments mainly due to lower margin,” it shared.

Moving forward, the planter expects CPO price to remain strong and noted that it hovered at between RM4,300 and RM4,500 per tonne in August 2021 as the end-July Malaysian palm oil stocks fell to 1.5 million tonnes, mainly due to weaker than expected FFB production.

“The production weakness is largely attributed to worker shortage and restrictive measures contained in the pandemic-related standard operating procedures (SOPs). We anticipate that this challenging operating environment will continue for the near term, thus indirectly lending support to the strong CPO price trend at least for the next few months,” it said.

Overall, the group sees its overall financial performance in the new financial year to be better, underpinned by the strong performance from its plantation segment.

Meanwhile, in a separate filing, IOI Corp announced that its board has resolved to extend the revised timeframe for an additional 18 months, which is the second revised timeframe, to utilise the remaining proceeds received from the disposal of 70.0 percent of its equity interest held in Loders Croklaan Group B.V.

The second revised timeframe will enable the board to further identify and evaluate the feasibility of potential investments and formulate its group strategies holistically, it said.

The board had on Feb 18, 2020 announced the revised timeframe for the utilisation of proceeds from the disposal.

Source: BERNAMA News Agency