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Vividthree Holdings Ltd. (SGX: OMK), is pleased to announce that the controlling shareholders of established content creator, DarkBox Studio Pte Ltd (“DarkBox”) have accepted Vividthree’s expression of interest to acquire all or part of the shares of DarkBox (the “Proposed Acquisition”). Vividthree has been given an exclusive period until 10 February 2020 to discuss and negotiate for the Proposed Acquisition.
DarkBox and Vividthree recently collaborated to launch the revolutionary Over-The-Top (“OTT”) comic video platform – ComicVid on 7 December 2019. The Proposed Acquisition is expected to provide the Group with more IP titles to increase its revenue stream.
- Proposed investment in 55.0% of the enlarged issued share capital of Jaga-Me Pte. Ltd. for S$3.5 million
- Investment allows Alliance Healthcare to expand its holistic patient care delivery through mobile health capabilities and a scalable digital platform
Alliance Healthcare Group Limited (SGX: MIJ), an integrated healthcare organisation that leverages on technology to provide a broad suite of healthcare services primarily in Singapore (“Alliance Healthcare” or the “Company”, and together with its subsidiaries, the “Group”), is pleased to announce that its wholly-owned subsidiary, Alliance Healthcare Pte. Ltd. (“AHPL”) has entered into a sale and purchase agreement (“SPA”) with the vendors and a share subscription agreement (“SSA”) with Jaga-Me Pte Ltd (”Jaga-Me”) and the founders, namely Koo Ming Sheng, Julian and Kuah Ling Ling, to invest in 55.0% of Jaga-Me’s enlarged issued share capital. The transaction will be carried out via the purchase of existing vendor shares and the subscription of new shares in the capital of JagaMe for a cash consideration of approximately S$1.5 million and S$2.0 million respectively (collectively, the “Proposed Investment”).
Executive Chairman and CEO of Alliance Healthcare, Dr Barry Thng Lip Mong (唐立茂) commented, “The Group is thrilled to welcome Jaga-Me onboard. The Proposed Investment enables the Group to seamlessly deliver quality healthcare to all patients, including rapidly ageing population, which is line with our growth strategy. Through this strategic investment, it allows us to further tap on Jaga-Me’s proprietary digital healthcare platform and extensive network of medical professionals to augment our business expansion. We look forward to exploring in-depth synergies with Jaga-Me as we continue to provide differentiated and cost-effective healthcare solutions for diverse medical needs, such as hospitalization, critical illness care, and chronic care.”
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Synagie Corporation Ltd. (SGX: V2Y), Southeast Asia’s leading e-commerce enabler is pleased to announce today that it has launched its Multi-channel Cross-Border eCommerce Solution to help local small and medium-sized enterprises (“SMEs”) adopt crossborder e-Commerce. As part of this initiative, Synagie has also entered into a partnership with Nanyang Polytechnic’s Singapore Institute of Retail Studies (“NYP-SIRS”), to provide certified e-commerce training for employees of SMEs who adopt its cross-border solutions.
Singapore SMEs that adopt Synagie’s Multi-channel Cross-Border e-Commerce Solution (“MICES”) from 1 November 2019 will receive 70% subsidy off Synagie’s first year fees of S$20,000 through Enterprise Singapore’s support. To be eligible for this, employees of qualifying SMEs need to attend e-commerce training courses, run by NYP-SIRS supported by SkillsFuture Singapore.
Executive Director of Synagie, Ms Olive Tai commented, “We are grateful to the respective authorities for working with us to help our local SMEs embrace the digital economy and expand sales globally. We are confident that these SMEs will benefit from this first-ofits-kind package that allows them to bring their businesses online, provide the relevant training for their employees as well as get access to our self-served cloud-based solutions, to help them effectively manage and scale up their businesses digitally across borders.”
Vividthree Holdings Ltd. (SGX: OMK) is pleased to announce that the Group has entered into a collaboration with established content creator, DarkBox Studio and well-known Korean webtoons pioneer – Lezhin Comics’ subsidiary for film/tv production, LEZHIN STUDIO to unveil the revolutionary Over-The-Top (“OTT”) comic video platform – ComicVid, which will be officially launched during ‘Singapore Comic Con 2019’ on 7 December 2019.
ComicVid – a multi-language OTT comic video platform that targets comic enthusiasts and techsavvy millennials in the region. Enhancing webcomics with motions and sound effects, ComicVid breathes life into the still artwork. This platform will facilitate talented comic creators to bring their characters to life, by transforming their creations into a video-like viewing experience. ComicVid allows comic creators to publish and share their creations globally, providing an avenue for them to eventually monetise their creations through potential opportunities of merchandising, cartoon series, feature films and various commercial initiatives. The platform will feature a diverse range of illustrious webcomic titles contributed by renowned content creators – one of which is the popular hit by DarkBox called ‘Silent Horror’ that has accumulated a total of 90 million views. ComicVid will be available for download on Google Play store (Android) during launch, followed by App store (IOS) on a later date. The platform will be released in Singapore and subsequently other parts of the region including Korea by 2020.
- Duty Free International plans Capital Reduction exercise to improve shareholders’ return on equity
- This exercise is anticipated to ameliorate the Group’s capital structure for long term efficiency
Duty Free International Limited, the largest multi-channel duty free and duty paid retail group in Malaysia with strategic locations across Peninsular Malaysia, today announced that it intends to undertake a capital reduction exercise (“Capital Reduction”) to return to shareholders its surplus capital through a cash distribution of S$0.035 for each ordinary share in the share capital of the Group held by its shareholders (“Cash Distribution”).
mm2 Asia Ltd. today is pleased to announce its wholly-owned subsidiary, mm2 Entertainment’s latest venture into content streaming services with the debut of mPlay Asia (“mPlay”), slated to launch in April 2020 in key Chinese-speaking markets – Singapore, Malaysia, Taiwan and Hong Kong.
mPlay is a free-to-use video streaming platform that features quality Chinese-language short-form content. mPlay targets young urban professionals who seek fun and informative videos that fit with their fast-paced and flexible consumption habits. Fresh, original and curated videos, between 3-5mins in duration, will be uploaded weekly for live streaming and video on demand viewing. The short-form format is designed especially for mobile streaming and allows users extreme flexibility to enjoy the content at their convenience. mPlay’s launch will focus on key Chinese-speaking markets including Singapore, Malaysia, Taiwan and Hong Kong that have an addressable audience size of over 40 million.
mPlay will also have live-streaming capabilities to bring events of interest ‘live’ to its viewers. Developed together with technology provider ESP xMedia, the mPlay platform will progressively develop and introduce enhanced features including personalisation, interactivity and ecommerce capabilities.
- Revenue improved to S$68.4 million in 2QFY2020, bolstered by higher contributions from its Events and Post-Production businesses
- Achieved net profit of S$5.3 million in 2QFY2020
- Core business remained steady, with increasing co-productions in Southeast Asia and a slate of deals related to theatrical movies and Over-The-Top (“OTT”) content production
- Cinema segment saw higher 2QFY2020 profit before tax, despite lower revenue, due to operational optimisation from inter-alia, increased cost efficiencies
mm2 Asia Ltd. today announced its financial results for the threemonths ended 30 September 2019 (“2QFY2020”) and half-year ended 30 September 2019 (“1HFY2020”).
FY2020 Outlook
Executive Chairman of mm2 Asia, Mr Melvin Ang (洪伟才) noted, “We remain confident in our key strategy and believe that we are on track to maintain our momentum in FY2020. Having established a strong foothold and proven track record in the Chinese markets in Asia, we are poised to take advantage of the opportunities arising from the surge in demand for Asian content. Our regional presence and strong network in Southeast Asia and North Asia provide us direct strategic access to audiences, valued IPs and talents across multiple markets. Our Core and Cinema segments continued on a steady trajectory with a slate of production deals and a notable pipeline of blockbuster title releases in FY2020. The Group has also been gaining positive traction during the fiscal period, particularly in our Events and PostProduction segments, where UnUsUaL delivered an exceptional quarter and Vividthree posted turnaround earnings. We are encouraged by how far we have come, and will continue to drive the Group’s performance with the solid foundation that we have built across all our businesses.”
UnUsUaL Limited (SGX: 1D1) today announced its financial results for the second quarter ended 30 September 2019 (“2Q FY2020”) and half year ended 30 September 2019 (“1H FY2020”).
The Group recorded a strong revenue growth of approximately S$10.8 million or 57.5% to S$29.6 million in 2Q FY2020, primarily attributed to the higher revenue contribution from the Promotion segment. In tandem with its revenue growth, the Group’s gross profit increased by S$2.4 million or 38.1% from S$6.3 million in 2Q FY2019 to S$8.7 million in 2Q FY2020.
The Group continue to deliver growth, registering a net profit increase of 54.8% and 8.7% to S$5.0 million in 2Q FY2020 and S$6.1 million in 1HFY2020 respectively.
Commenting on the Group’s 2Q FY2020 results, Chief Executive Officer of UnUsUaL, Mr Leslie Ong said, “UnUsUaL delivered an exceptional quarter. We see a rising demand in live events, as there is a growing number of audiences who value live experiences and willing to spend more on events and live shows. We will continue to strengthen our current platform and services for the artists and bring more remarkable shows to the global markets. We have the right strategies in place and remain focused on achieving our targets.”
- The Group will maintain profitability and deliver sustained growth for the full fiscal year- with remaining revenue from the Xingwen County project expected to be recognised in subsequent quarters
- Exploring new partnerships and smart city projects with major
shareholder, KOSDAQ-listed, Magic Micro
Raffles Infrastructure Holdings Limited (SGX: LUY) today is pleased to announce its financial results for the financial quarter ending 30 September 2019 (“1QFY2020”).
Confident of full year profitability FY2020
Raffles Infrastructure reported an earnings turnaround in FY2019 mainly due to the earnings contribution from its Xingwen County Rural Road Infrastructure Project, which is estimated to be worth about S$110 million. The local authorities have accepted 5 out of the 26 parcels of
project to be delivered to date- the rest of the parcels and revenue expected to be delivered and recognised by the end of FY2020.
Annotating on its financial results, Mr Eric Choo, Chief Executive Officer of Raffles Infrastructure, said, “In FY2019, we demonstrated our capabilities to improve our profitability. The construction for the Xingwen County Rural Road Infrastructure Project is ongoing, we are on track to deliver the rest of the road parcels to local authorities by the end of FY2020. Based on its current view of the business, we are optimistic that the Company will maintain profitability and while delivering sustained growth for the full fiscal year. We’re also continuing to advance our strategy and continue building new opportunities, pursues the appropriate strategies to create value for our shareholders.”