had been recently approved by the
\nrelevant authorities<\/a>. <\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
Rain
\nInternational is principally involved in the mineral trading and exportation business,
\nsupplying sand to its client mainly in Hong Kong and China for reclamation and
\nconstruction works. \u00a0The Company had
\nrecently signed a contract for the supply of marine sand for a minimum period
\nof three years. <\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
The
\ncontract is for the supply of sand to Zhen Hua
\nEngineering Company Ltd-China Communications Construction Company Ltd-CCCC
\nDredging (Group) Company Ltd. (ZHEC-CCCC-CDC), a Joint Venture contractor
\nappointed to undertake the main reclamation works for the Hong Kong
\nInternational Airport Three Runway System Project.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
Director
\nMr William Chan Ching-Kee said: “As the appointed agent for the ZHECC-CCCC-CDC
\nJoint Venture, we are looking forward to the exportation of sand from Malaysia
\nto our client in Hong Kong to commence without any further delay.”<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
Dato
\nSeri Chia is optimistic that the contract would be extended for another two to three
\nyears and could potentially generate revenue of up to RM6 billion.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“The
\nsand business is a major boost because it gives us tremendous visibility. The
\npotential revenue is huge, recurring and highly scalable,” its jubilant CEO,
\nDato Seri Chia Kok Teong exclaimed.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“The
\npotential for explosive growth in the sand business is real and tangible, and
\nbodes well for the Group in the next few years.”<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“We
\nare starting with 3 years but the contract can easily be increased to 5 years
\nand beyond, with higher tonnage shipped every 6 months. The exportation of sand
\nwill increase sharply over time,” he added.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
Besides
\nthe reclamation works for the Hong Kong International Airport, the rapid pace
\nof construction and reclamation works in China and Singapore also requires heavy
\ndemand for sand, which is a considerable boon to Malaysia.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“The
\nmarket for sand export is extremely humongous and will fuel the Group’s rapid growth
\nfor the next several years. The RM3.79 billion Win is the first of many more to
\ncome.” <\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“I
\nhave in fact urged my team to secure up to RM10 billion worth of sand contracts
\nby the end of 2021. This is part of our overall transformation strategy to
\nbecome a multi billions conglomerate,” declared Dato Seri Chia.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“It
\nis our core strategy to strengthen and diversify the Group’s revenues
\ngeneration capabilities and capacities and not be too narrowly focussed.” <\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“Presently,
\nwe are already in negotiations for another RM2 to RM3 billion sand contract.
\nOnce finalised, we will make the relevant announcement as per Bursa Malaysia’s requirements<\/i>,” Dato
\nSeri Chia elaborated.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
The
\nsand would be procured from an approved permit holder to export sand overseas,
\nand sourced from concession areas in Sandakan and Sungai Beluran in Sabah and
\nthroughout Malaysia. <\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“Even
\nwith this massive sand contract already secured, we will not be complacent. I
\nhave earlier promised to transform Vivocom into a behemoth Conglomerate and I
\nwill work non-stop to deliver on the promise,” Dato Seri assured.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
Since Dato Seri Chia’s entry into Vivocom in January 2020 when its
\nprice was at 15 cents, the share has climbed sharply and last closed at RM1.06
\non Thursday, 25th<\/sup> February 2021.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“I
\nam very optimistic that Vivocom shares will continue to grow strongly and be worth
\na lot more than presently over time. I’m proud to say that we are no longer a
\npenny stock,” he reflected. <\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“My team is totally committed to building Vivocom into a reputable and
\nprofitable public company, one with solid fundamentals, sustainable profits and
\nhealthy cashflows.” <\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“As a priority, we will work towards getting the Group elevated to the
\nMain Board of Bursa Malaysia and be a dividends-paying company soonest possible,”
\nquipped Dato Seri.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
To show his commitment, Dato Seri
\nChia has undertaken a voluntary self–imposed moratorium (or SIM) in that he
\nwill not dispose his personal stakes in Vivocom for the next 3 years. This will ensure the
\ncompany’s long-term price stability and sustainability.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“We
\nwant a stable and strong share price so that the Company can use its shares
\nwith its high liquidity as a currency for M&A activities to fund and
\nfast-track expansion and growth,” he explained.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“A
\nstrong share with high liquidity is a most valuable and prized asset. We will
\nuse it to buy Companies with game-changing and disruptive strategies. To look
\nfor the Next Big Thing.” <\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“The enormous followings in the
\nCompany are what is driving in tremendous liquidity and momentum giving our
\nshare price added impetus,” Dato Seri proudly asserts.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“We aspire to emulate Berkshire Hathaway strategy started over 40
\nyears ago by Mr Warren Buffet. Mr Masayoshi Son built SoftBank Group of Japan
\nalong the same philosophy and Alphabet in US adopted similar strategies.”<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n
\n
<\/p>\n
“These three companies are presently amongst the most valuable and
\nadmired companies in the world. I have the same dream for Vivocom. I
\nam determined to leave behind an enduring legacy for all our valued
\nshareholders,” concluded Dato Seri Chia.<\/p>\n
\n
<\/p>\n
\u00a0<\/p>\n<\/p><\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Initial contract worth RM3.79 billion
for three years Aspires to be a major industry player ‘with
exponential growth prospects’
KUALA
LUMPUR, MALAYSIA –\u00a0Media
OutReach\u00a0– 26 February 2021 –\u00a0In
a filing to Bursa Malaysia this
evening, Vivocom Intl Holdings Berhad (‘Vivocom’) announced that V Development
Group via one of its subsidiaries has …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/12676"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=12676"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/12676\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=12676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=12676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=12676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}