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Novartis Piqray® – First and only treatment specially for patients with a PIK3CA mutation in HR+/HER2- advanced breast cancer receives HSA approval[1]

  • Piqray (alpelisib) is the only treatment approved specifically to address PIK3CA mutation
  • The approval was based on SOLAR-1 Phase III trial showing Piqray plus fulvestrant nearly doubled median PFS (11.0 vs. 5.7 months) in HR+/HER2- advanced breast cancer patients with PIK3CA mutation, compared to fulvestrant alone.
  • Approximately 30-40% of those with HR+/HER2- subtype have a PIK3CA mutation, which is associated with a poor prognosis. In Singapore, the incidence of point mutations in PIK3CA, are amongst the most frequently reported to date for any gene in breast cancer.

SINGAPORE – Media OutReach – 1 March 2021 – Novartis announced the Health Sciences Authority (HSA) has approved* Piqray®, an α-specific class I phosphatidylinositol-3-kinase (PIK3CA) inhibitor, for the treatment of postmenopausal women, and men, with hormone receptor positive (HR+), human epidermal growth factor receptor 2 (HER2-) negative, advanced breast cancer with a PIK3CA mutation in combination with fulvestrant after disease progression following an endocrine-based regimen.1

“Novartis has been researching the role of the PIK3CA mutation for more than 20 years and studying how to target this mutation in order to delay disease progression,” said Itsaraet Gosriwatana, Oncology General Manager, Novartis (Singapore). “The understanding of the PIK3CA status is crucial in equipping doctors to develop a better personalized treatment plan for patients. Today, we are pleased to be able to offer patients in Singapore with PIQRAY, an important new therapy for HR+/HER2- advanced breast cancer patients whose tumours have a PIK3CA mutation.”

HSA approval is based on results of the Phase III trial, SOLAR-1, that showed Piqray plus fulvestrant nearly doubled median progression-free survival (PFS) compared to fulvestrant alone in HR+/HER2- advanced breast cancer patients with a PIK3CA mutation (median PFS 11.0 months vs 5.7 months; Hazard Ratio (HR)=0.65, 95% CI: 0.50-0.85; p<0.001).2 Piqray provided consistent PFS results across pre-specified subgroups, including among patients previously treated with a CDK4/6 inhibitor.2

The overall response rate (ORR), an indicator of the proportion of patients who experience at least a 30% reduction in overall tumor size (in patients with measurable disease), was more than doubled when Piqray was added to fulvestrant in patients with a PIK3CA mutation, (ORR = 35.7% vs 16.2% for fulvestrant alone, p=0.0002).2,3

Patients with HR+/HER2- advanced breast cancer should be selected for treatment with Piqray, based on the presence of a PIK3CA mutation in tumor tissue or plasma specimens, using a validated test. If a mutation is not detected in a plasma specimen, tumor tissue should be tested if available.1

“The PIK3CA gene is frequently mutated in HR+/HER2- breast cancer, affecting about 30% to 40% of people with that subtype 2. Advanced breast cancer patients with the PIK3CA mutations tend to have worse prognosis, developing resistance to standard treatment options more quickly.6,8,9,10,” said Associate Prof Yap Yoon Sim, Senior Consultant, Division of Medical Oncology, National Cancer Centre Singapore.

In Singapore, a total of 9,634 new cases of breast cancer cases were diagnosed between 2011 — 2015, accounting for nearly 1 in 3 incident cancers in females and making it the most common cancer diagnosis among women. Of which, 1 in 10 women diagnosed with breast cancer are of advanced stages.7 The incidence of point mutations in PIK3CA, are amongst the most frequently reported to date for any gene in breast cancer in Singapore.4

Approximately 30-40% of those with HR+/HER2- subtype of breast cancer have a PIK3CA mutation2. PIK3CA mutations are associated with tumor growth, resistance to endocrine treatment and a poor overall prognosis.6,8,9,10 Piqray targets the effect of PIK3CA mutations and may help overcome endocrine resistance in HR+ advanced breast cancer.

PIQRAY is the first drug of its kind approved for treatment of postmenopausal women, and men, with hormone receptor positive, HER2- negative, advanced breast cancer with a PIK3CA mutation in Singapore, the European Union, and the United States.

About Piqray® (alpelisib)

Piqray is a kinase inhibitor approved in combination with fulvestrant for the treatment of postmenopausal women, and men, with HR+/HER2-, PIK3CA-mutated, advanced or metastatic breast cancer, as detected by an FDA-approved test following progression on or after endocrine-based regimen.1

Approximately 30-40% of HR+ advanced breast cancer patients have a mutation that may activate the PI3K-alpha isoform, called PIK3CA mutations.2 These mutations are associated with resistance to endocrine therapy, disease progression and a poor prognosis.6,8,9,10 Piqray works by inhibiting the PI3K pathway, predominantly the PI3K-alpha isoform, to address the effect of PIK3CA mutations.

About SOLAR-1

SOLAR-1 is a global, Phase III randomized, double-blind, placebo-controlled trial studying Piqray in combination with fulvestrant for postmenopausal women, and men, with PIK3CA-mutated HR+/HER2- advanced or metastatic breast cancer that progressed on or following aromatase inhibitor treatment with or without a CDK4/6 inhibitor 2,3. SOLAR-1 is the pivotal Phase III trial that supported this approval.

The trial randomized 572 patients. Patients were allocated based on central tumor tissue assessment to either a PIK3CA-mutated cohort (n=341) or a PIK3CA non-mutated cohort (n=231). Within each cohort, patients were randomized in a 1:1 ratio to receive continuous oral treatment with Piqray (300 mg once daily) plus fulvestrant (500 mg every 28 days + Cycle 1 Day 15) or placebo plus fulvestrant. Stratification was based on visceral metastases and prior CDK4/6 inhibitor treatment2,3. Patients and investigators are blinded to PIK3CA mutation status and treatment.

The primary endpoint is local investigator assessed PFS using RECIST 1.1 for patients with a PIK3CA mutation. The key secondary endpoint is overall survival, and additional secondary endpoints include, but are not limited to, overall response rate, clinical benefit rate, health-related quality of life, efficacy in PIK3CA non-mutated cohort, safety and tolerability2. SOLAR-1 is ongoing to assess overall survival and other secondary endpoints.

About Novartis in Advanced Breast Cancer

For more than 30 years, Novartis has been tackling breast cancer with superior science, great collaboration and a passion for transforming patient care. With one of the most diverse breast cancer pipelines and one of the largest numbers of breast cancer compounds in development, Novartis leads the industry in discovery of new therapies and combinations, especially in HR+ advanced breast cancer, the most common form of the disease.

Indication 1

Piqray is an α-specific class I phosphatidylinositol-3-kinase (PIK3CA) inhibitor indicated for the treatment of postmenopausal women, and men, with hormone receptor positive, HER2- negative, advanced breast cancer with a PIK3CA mutation in combination with fulvestrant after disease progression following an endocrine-based regimen.

Important Safety Information 1

Treatment with Piqray should be initiated by a physician experienced in the use of anticancer therapies.

Piqray is contraindicated in patients with hypersensitivity to the active substance or to any of the excipients. PIQRAY may cause serious side effects. PIQRAY can cause hypersensitivity (including anaphylactic reaction), manifested by symptoms including, but not limited to, dyspnea, flushing, rash, fever or tachycardia.

The most common adverse drug reactions in Piqray plus fulvestrant treated patients were hyperglycaemia, diarrhea, rash, nausea, fatigue and asthenia, decreased appetite, stomatitis, vomiting and weight decreased.

Patients should tell their health care provider all of the medicines they take, including prescription and over-the-counter medicines, vitamins, and herbal supplements. PIQRAY and other medicines may affect each other causing side effects.

For more information, please see full Prescribing Information for Piqray, available at

https://www.novartis.com.sg/product-list/PIQRAY

*HSA approval for PIQRAY on 25th March 2020

References

  1. Piqray (alpelisib) Singapore Prescribing Information. Novartis Singapore; Jan 2020.
  2. André F, Ciruelos E, Rubovszky G. Alpelisib for PIK3CA-Mutated, Hormone-Receptor-Positive Advanced Breast Cancer. N Eng J Med 2019.
  3. Juric D, Ciruelos EM, Rubovszky G et al. Alpelisib (ALP) + fulvestrant (FUL) for advanced breast cancer (ABC): Phase 3 SOLAR-1 trial results. Presented at the San Antonio Breast Cancer Symposium (SABCS) (Abstract #GS3-08) on December 6, 2018.
  4. Liang, X., Lau, Q., Salto-Tellez, M., Putti, T., Loh, M. and Sukumar, S., 2006. Mutational hotspot in Exon 20 of PIK3CA in breast cancer among singapore chinese. Cancer Biology & Therapy , 5(5), pp.544-548.
  5. Moynahan ME, Chen D, He W, et al. Br J Cancer. 2017;116(6):726-730002E
  6. Miller TW, Rexer BN, Garrett JT, et al. Mutations in the Phosphatidylinositol 3-Kinase Pathway: Role in Tumor Progression and Therapeutic Implications in Breast Cancer. Breast Cancer Res. 2011.
  7. National Registry of Diseases Office (NRDO).Singapore Cancer Registry Annual Registry Report 2015. Jun 2017
  8. Sobhani N, Roviello G, Corona SP et al. The prognostic value of PI3K mutational status in breast cancer: a meta-analysis. J Cell Biochem. 2018;119(6):4287-4292.
  9. Sabine V, Crozier C, Brookes C, et al. Mutational analysis of PI3K/AKT signaling pathway in tamoxifen exemestane adjuvant multinational pathology study. Journal of Clinical Oncology. 2014;32:2951-2958.
  10. Saal LH, Johansson P, Holm K. Poor prognosis in carcinoma is associated with a gene expression signature of aberrant PTEN tumor suppressor pathway activity. PNAS. 2007;104(18):7564-7569.

Disclaimer

This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by words such as “potential,” “can,” “will,” “plan,” “expect,” “anticipate,” “look forward,” “believe,” “committed,” “investigational,” “pipeline,” “launch,” or similar terms, or by express or implied discussions regarding potential marketing approvals, new indications or labeling for the investigational or approved products described in this press release, or regarding potential future revenues from such products. You should not place undue reliance on these statements. Such forward-looking statements are based on our current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that the investigational or approved products described in this press release will be submitted or approved for sale or for any additional indications or labeling in any market, or at any particular time. Nor can there be any guarantee that such products will be commercially successful in the future. In particular, our expectations regarding such products could be affected by, among other things, the uncertainties inherent in research and development, including clinical trial results and additional analysis of existing clinical data; regulatory actions or delays or government regulation generally; global trends toward health care cost containment, including government, payor and general public pricing and reimbursement pressures and requirements for increased pricing transparency; our ability to obtain or maintain proprietary intellectual property protection; the particular prescribing preferences of physicians and patients; general political and economic conditions; safety, quality or manufacturing issues; potential or actual data security and data privacy breaches, or disruptions of our information technology systems, and other risks and factors referred to in Novartis AG’s current Form 20-F on file with the US Securities and Exchange Commission. Novartis is providing the information in this press release as of this date and does not undertake any obligation to update any forward-looking statements contained in this press release as a result of new information, future events or otherwise.

About Novartis Global

Novartis is reimagining medicine to improve and extend people’s lives. As a leading global medicines company, we use innovative science and digital technologies to create transformative treatments in areas of great medical need. In our quest to find new medicines, we consistently rank among the world’s top companies investing in research and development. Novartis products reach nearly 800 million people globally and we are finding innovative ways to expand access to our latest treatments. About 109,000 people of more than 145 nationalities work at Novartis around the world. Find out more at www.novartis.com.

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ESR selected as a constituent of Hang Seng Composite Index

HONG KONG SAR – Media OutReach – 1 March 2021 – ESR Cayman Limited (“ESR” or the “Company”, together with its subsidiaries as the “Group”; SEHK Stock Code: 1821), the largest APAC focused logistics real estate platform, is pleased to announce that it has been selected as a constituent for the Hang Seng Composite Index (“HSCI”), with effect from 15 March 2021.

Jeffrey Shen and Stuart Gibson, Co-founders and Co-CEOs of ESR, said, “We are delighted to be selected as one of the constituent stocks of HSCI. The inclusion came on the heels of ESR’s inclusion into MSCI Hong Kong Index in November 2020, and demonstrates the capital market’s strong recognition of ESR’s business fundamentals, financial performance and long-term investment value. We believe the inclusion will bring positive impact to the trading liquidity of the Group, while further strengthening ESR’s profile not only in the space of logistics real estate but also in the investment community.”

The HSCI, which has 500 constituents, offers a comprehensive Hong Kong market benchmark that covers about 95th percentile of the total market capitalisation of companies listed on the Main Board of the Stock Exchange of Hong Kong. Adopting the freefloat-adjusted market capitalisation methodology, the HSCI can be used as a basis for index funds, mutual funds as well as performance benchmarks.

Dinokelulut introduces Malaysian stingless bee honey to combat the pandemic.

People are more health-conscious because of the global outbreak and stingless bee honey is one Superfood they’re embracing

 

SINGAPORE – Media OutReach – 1 March 2021 As people become more health-conscious about nutritial and medicinal properties in foods and how they are beneficial for them, one of the Superfoods rising in popularity is stingless bee honey. Known as kelulut honey in Malaysia, stingless bee honey was recognised as the first Malaysian Superfood by the Malaysian Agricultural Research and Development Institute (MARDI) in 2016.

Since then, the market for this medicinal honey has been growing at 7.6% per year and is set to grow into a $3 billion USD industry by 2050.

Although demand is increasing exponentially, the supply of kelulut honey with its distinct sour-sweet flavour profile is tremendously low, since it is only available commercially in a select few countries including Malaysia.

Moving in to bridge the demand-supply gap is Dinokelulut, a Malaysian agritech startup on a mission to become one of the country’s largest Superfood exporters in the near future. The company has pioneered methods of mass-producing stingless bee honey and related products in much shorter time periods.

Dinokelulut was founded in 2015 when former IBM software engineer Dino Malik participated in a stingless bee honey investment scheme that failed.

Although that venture turned into a loss, Dino was “bitten by the bug” when he discovered how kelulut honey was beneficial to people’s health, healing and immunity.

As a result, he experimented with setting up his own be farms to find innovative ways of producing this beneficial honey. After years of research and development, Dino developed a proprietary technology called ‘Technohives’, which utilises recyclable hives to accelerate the growth of bee colonies and stimulate honey production in a smaller space footprint.

Today, Dinokelulut has expanded from only exporting bottled stingless bee honey to producing mini packs of honey concentrates and energy drinks as well to cater to the increasing demands of its customers.

The fact that revenues have grown by 500% year-on-year is evidence that stingless bee honey is meeting a growing demand, especially exacerbated by the current global pandemic, as people seek to fortify their health and immunity against outbreaks.

There’s a great buzz surrounding Dinokelulut for the near future as the company continues with its plans to deploy advanced technologies to increase their production capacity while also expanding their distribution network regionally to reach new markets that are clamouring for honey Superfoods. Seeking to secure a grant from the Malaysian government to fuel their expansion plans, Dinokelulut aims to expand into complementary industries that can also benefit from the medicinal properties of stingless bee honey, such as pharmaceuticals and cosmetics.

“We believe Dinokelulut is at the forefront in this market which is in the infancy stage and is capable of becoming a market leader in the coming years as the market matures,” says founder Dino Malik.

Customers who are interested may purchase Dinokelulut honey products directly at www.dinokelulut.com/shop

Primary Students Behind in Lao Language and Mathematics in Laos

Students in Laos
Students in Lao PDR

Authorities have admitted that the education system in Laos requires urgent attention, with Lao students falling behind in Lao Language and mathematics at the primary school level.

Covid-19 Insurance Now a Requirement for Entry to Laos

Laotian Times Covid-19 Update

Laos has extended its Covid-19 prevention measures and now requires travelers entering the country to purchase Covid insurance.

Hong Kong Productivity Council Theme of the Year 2021: “Make Smart Smarter”

  • Smarter Era of Intelligent Manufacturing Launch Ceremony
  • Witnesses New Milestone for Reindustrialisation in Hong Kong

HONG KONG SAR – Media OutReach – 26 February 2021 – The Hong Kong Productivity Council (HKPC) launches a series of activities in 2021 themed “Make Smart Smarter”. The campaign with “Smarter Era of Intelligent Manufacturing Launch Ceremony” was kicked off today, revolving around the theme of “reindustrialisation”.

The “Smarter Era of Intelligent Manufacturing Launch Ceremony” was officiated together by Dr David Chung, Under Secretary for Innovation and Technology, HKSAR Government (fourth from left); Mr Clemente Contestabile, Consul General of Italy in Hong Kong (third from right); Ms Rebecca Pun, Commissioner for Innovation and Technology, HKSAR Government (second from right); Dr Daniel Yip, Chairman of the Federation of Hong Kong Industries (third from left); Mr Roberto Leone, Managing Director of NiRoTech Limited (first from right); Mr Willy Lin, Chairman of HKPC (fourth from right); Mr Mohamed Butt, Executive Director of HKPC (second from left) and Mr Edmond Lai, Chief Digital Officer of HKPC (first from left).

Co-organised by the Federation of the Hong Kong Industries (FHKI), this spotlight event exhibited and introduced an excellent example of reindustrialisation whose research and development were undertaken by HKPC. Gaining support from the Innovation and Technology Bureau and funding support from the R&D Cash Rebate Scheme of the Innovation Technology Commission of the HKSAR Government, production has been successfully commenced in NiRoTech Limited (NiRoTech), a local intelligent security product manufacturer.

This smart production line, named the “OWL” intelligent production line, gives into full play the characteristics of an owl’s wisdom, piercing eyes, flexible body, soft neck (360o vision) and agile movement. These perfectly echo the key features of this intelligent production line which has high flexibility, excellent agility to cater for different production needs, stringent and precise production capacity, as well as non-stop operation. Five key “S.M.A.R.T” elements: Speed, Multi-function, Accuracy, Reliability and Traceability, can be seen in this production line offering edges of intelligence and efficiency enhancement.

In order to effectively respond to Hong Kong manufacturers’ demands on production space, the “OWL” production line adopts a U-shape compact layout design and incorporates the beauty of the “Industry 4.0” (i4.0) lean manufacturing “vision”, significantly reducing the factory area to meet the unique land constraints of Hong Kong. NiRoTech’s smart factory only occupies 10,000 square feet, saving 50% of the land. It is also equipped with 12 robots and large amount of customised intelligent automation systems and digital technologies. Compared with traditional manual production, the overall production capacity increases by 1.5 times.

Mr Willy Lin, Chairman of HKPC, and Dr Daniel Yip, Chairman of FHKI, were joined by Mr Clemente Contestabile, Consul General of Italy in Hong Kong; Dr David Chung, Under Secretary for Innovation and Technology, Ms Rebecca Pun, Commissioner for Innovation and Technology; Mr Roberto Leone, Managing Director of NiRoTech; as well as Mr Mohamed Butt, Executive Director of HKPC and Mr Edmond Lai, Chief Digital Officer of HKPC, for the launch of the ceremony.

In his welcoming address, Mr Willy Lin, Chairman of HKPC, said, “HKPC is committed to offering staunch support for Hong Kong SMEs in technology R&D and technical aspects, with the aim of creating value for the industrial development of enterprises with state-of-the-art technologies. The ‘OWL’ intelligent production line is an excellent example of applying innovative technologies that also fits perfectly with HKPC’s theme of this year ‘Make Smart Smarter’. As owl represents wisdom, by being smarter and using innovative technologies such as IoT, AI, big data, intelligent robots and smart production processes to unleash production opportunities of i4.0, it will certainly scale up productivity and contribute to successful reindustrialisation in Hong Kong, thus achieving the goal of ‘Make Smart Smarter'”.

He continued, “It is really encouraging to see this ‘reindustrialisation’ example witnessing the concerted efforts of the Government, industries, business chambers and HKPC to promote reindustrialisation in Hong Kong! HKPC sincerely urges various sectors to work together to accelerate reindustrialisation for the swift recovery of Hong Kong economy and to ensure the “Made-in-Hong Kong” brand to continue to shine bright in the international arena — Make Smart Smarter”.

Dr David Chung, Under Secretary for Innovation and Technology, said, “the Government has been actively promoting ‘reindustrialisation’ in recent years by providing support in infrastructure, finance, technology and talents in order to create new area of growth and great job opportunities which would help alleviate Hong Kong’s competitiveness. I wish to see more enterprises ‘Make Smart Smarter’, and make good use of these opportunities provided by I&T, as well as the support from the Government, to work and contribute together in turning Hong Kong into an international I&T hub”.

Dr Daniel Yip, Chairman of FHKI said, “This collaboration of HKPC and NiRoTech serves as a valuable reference for industrialists on how to integrate i4.0 into production lines to enhance efficiency, elevating their confidence to set up high value-added manufacturing facilities in Hong Kong. With comprehensive policy support and HKPC’s professional consultative service, FHKI believes that more Hong Kong manufacturers will join the force of ‘reindustrialisation’ by pursuing technological advancement and setting up smart manufacturing plants locally, taking the Hong Kong industries into a new era”.

The “OWL” intelligent production line integrates the smart adoption of advanced robots with machine vision, smart electrical and mechanical devices, laser processing and sensor technologies. Also, by incorporating AI, IoT, human machine interface, real-time data collection and data analytic technologies, it ensures the full automation and digitalisation of production, assembly and monitoring to achieve big data analytics. Apart from three technologies whose patents are soon to be applied, the project also assists NiRoTech’s business planning in exploring the emerging markets and grasping new opportunities.

Mr Roberto Leone, Managing Director of NiRoTech, said, “Mechatronic Manufacturing in Hong Kong: our strategy was clear from the start when we sought HKPC’s assistance for help to realise intelligent production. For some, this goal was still immature and very difficult to achieve, especially with Hong Kong being chosen as our operation hub. Today we can proudly say we have achieved it with the system in Hong Kong operating satisfactorily as schedule. Despite there are challenges as the COVID-19 pandemic was affecting all in 2020, the result is now vividly in front of us, and we can touch it. Yet this is only the first step of a long journey”.

For more details about “Make Smart Smarter”, please visit the dedicated website: https://smarter.hkpc.org/en/index.html

About Hong Kong Productivity Council

The Hong Kong Productivity Council (HKPC) is a multi-disciplinary organisation established by statute in 1967, to promote productivity excellence through integrated advanced technologies and innovative service offerings to support Hong Kong enterprises. HKPC is the champion and expert in facilitating Hong Kong’s reindustrialisation empowered by i4.0 and e4.0 — focusing on R&D, IoT, big data analytics, AI and Robotic technology development, digital manufacturing, etc., to help enterprises and industries upgrade their business performance, lower operating costs, increase productivity and enhance competitiveness.

The Council is a trusted partner with comprehensive innovative solutions for Hong Kong industries and enterprises, enabling them to achieve resources and productivity utilisation, effectiveness and cost reduction, and enhanced competitiveness in both local and international marketplace. It offers SMEs and startups immediate and timely assistance in coping with the ever-changing business environment, accompanying them on their innovation and transformation journey.

In addition, HKPC partners and collaborates with local industries and enterprises to develop applied technology solutions for value creation. It also benefits a variety of sectors through product innovation and technology transfer, with commercialisation of multiple market-driven patents and technologies, bringing enormous opportunities abound for licensing and technology transfer, both locally and internationally.

For more information, please visit HKPC’s website: www.hkpc.org.

Laos Issues New Decree on Dam Management

Laos to Inspect Hydropower Dams Every 5 Years (Photo Ngam Ngiep 1)
Ngam Ngiep 1 Hydropower Project

Authorities announced on Thursday that the government of Laos has released new instructions for handling hydropower dams aimed at mitigating water shortages and floods.

Vivocom’s Group Game Changer – Multi-Billion Sand Project Secured

  • Initial contract worth RM3.79 billion for three years
  • Aspires to be a major industry player ‘with exponential growth prospects’

KUALA LUMPUR, MALAYSIA – Media OutReach – 26 February 2021 – In a filing to Bursa Malaysia this evening, Vivocom Intl Holdings Berhad (‘Vivocom’) announced that V Development Group via one of its subsidiaries has secured a ‘massive win’ worth approximately USD934.7 million or the equivalent of RM3.79 billion.

Rain International Sdn Bhd (‘Rain International’) is a 97% owned subsidiary under the V Development Group which was recently merged into the Vivocom Group. The Company’s proposed acquisition of V Development Group had been recently approved by the relevant authorities.

Rain International is principally involved in the mineral trading and exportation business, supplying sand to its client mainly in Hong Kong and China for reclamation and construction works. The Company had recently signed a contract for the supply of marine sand for a minimum period of three years.

The contract is for the supply of sand to Zhen Hua Engineering Company Ltd-China Communications Construction Company Ltd-CCCC Dredging (Group) Company Ltd. (ZHEC-CCCC-CDC), a Joint Venture contractor appointed to undertake the main reclamation works for the Hong Kong International Airport Three Runway System Project.

Director Mr William Chan Ching-Kee said: “As the appointed agent for the ZHECC-CCCC-CDC Joint Venture, we are looking forward to the exportation of sand from Malaysia to our client in Hong Kong to commence without any further delay.”

Dato Seri Chia is optimistic that the contract would be extended for another two to three years and could potentially generate revenue of up to RM6 billion.

“The sand business is a major boost because it gives us tremendous visibility. The potential revenue is huge, recurring and highly scalable,” its jubilant CEO, Dato Seri Chia Kok Teong exclaimed.

“The potential for explosive growth in the sand business is real and tangible, and bodes well for the Group in the next few years.”

“We are starting with 3 years but the contract can easily be increased to 5 years and beyond, with higher tonnage shipped every 6 months. The exportation of sand will increase sharply over time,” he added.

Besides the reclamation works for the Hong Kong International Airport, the rapid pace of construction and reclamation works in China and Singapore also requires heavy demand for sand, which is a considerable boon to Malaysia.

“The market for sand export is extremely humongous and will fuel the Group’s rapid growth for the next several years. The RM3.79 billion Win is the first of many more to come.”

“I have in fact urged my team to secure up to RM10 billion worth of sand contracts by the end of 2021. This is part of our overall transformation strategy to become a multi billions conglomerate,” declared Dato Seri Chia.

“It is our core strategy to strengthen and diversify the Group’s revenues generation capabilities and capacities and not be too narrowly focussed.”

“Presently, we are already in negotiations for another RM2 to RM3 billion sand contract. Once finalised, we will make the relevant announcement as per Bursa Malaysia’s requirements,” Dato Seri Chia elaborated.

The sand would be procured from an approved permit holder to export sand overseas, and sourced from concession areas in Sandakan and Sungai Beluran in Sabah and throughout Malaysia.

“Even with this massive sand contract already secured, we will not be complacent. I have earlier promised to transform Vivocom into a behemoth Conglomerate and I will work non-stop to deliver on the promise,” Dato Seri assured.

Since Dato Seri Chia’s entry into Vivocom in January 2020 when its price was at 15 cents, the share has climbed sharply and last closed at RM1.06 on Thursday, 25th February 2021.

“I am very optimistic that Vivocom shares will continue to grow strongly and be worth a lot more than presently over time. I’m proud to say that we are no longer a penny stock,” he reflected.

“My team is totally committed to building Vivocom into a reputable and profitable public company, one with solid fundamentals, sustainable profits and healthy cashflows.”

“As a priority, we will work towards getting the Group elevated to the Main Board of Bursa Malaysia and be a dividends-paying company soonest possible,” quipped Dato Seri.

To show his commitment, Dato Seri Chia has undertaken a voluntary self–imposed moratorium (or SIM) in that he will not dispose his personal stakes in Vivocom for the next 3 years. This will ensure the company’s long-term price stability and sustainability.

“We want a stable and strong share price so that the Company can use its shares with its high liquidity as a currency for M&A activities to fund and fast-track expansion and growth,” he explained.

“A strong share with high liquidity is a most valuable and prized asset. We will use it to buy Companies with game-changing and disruptive strategies. To look for the Next Big Thing.”

“The enormous followings in the Company are what is driving in tremendous liquidity and momentum giving our share price added impetus,” Dato Seri proudly asserts.

“We aspire to emulate Berkshire Hathaway strategy started over 40 years ago by Mr Warren Buffet. Mr Masayoshi Son built SoftBank Group of Japan along the same philosophy and Alphabet in US adopted similar strategies.”

“These three companies are presently amongst the most valuable and admired companies in the world. I have the same dream for Vivocom. I am determined to leave behind an enduring legacy for all our valued shareholders,” concluded Dato Seri Chia.