Metronic aims for USD1billion 5G Technology Smart City Solution Projects
Metronic aims for USD1billion 5G Technology Smart City Solution Projects | March 18, 2019 (Mon)
Smart City Solution Projects
SHAH ALAM, Monday, 18th March 2019: Metronic Global Berhad’s (“Metronic”, Stock Code: Mtronic, 0043) subsidiary, Metronic Engineering Sdn. Bhd. (MESB) has inked a Memorandum of Understanding (MOU) with Zhuhai Singyes New Materials Technology Co. Ltd. (“Zhuhai Singyes”, 兴业新材料).
Zhuhai Singyes is a subsidiary of China Singyes New Materials Holdings Limited (“SINGYES”, 兴业新材料), listed in Hong Kong Stock Exchange (HKSE) since 2017. The group was founded in 1995 and is a specialised smart city solutions provider with green building technology, renewable/solar energy solutions and fully integrated ecological agricultural products, having export, manufacturing and research & development base in Zhuhai, Guangdong Province, China.
Metronic, is a total building management engineering solutions provider since 1984, stands to gain from this collaboration with HKSE-listed SINGYES, to offer world class proven smart city technology solutions, connecting infrastructures with Internet of Things and 5G capabilities, to support 11th Malaysia Plan’s Smart City Initiatives*, such as Greater Kuala Lumpur, Smart Selangor and Putrajaya Smart City, coupled with other local councils, township developments, community parks and integrated government departments, just to name a few. *Source:https://www.mcmc.gov.my/skmmgovmy/media/General/pdf/Sesi-5-Rangkakerja-Berteraskan-Aspek-Informasi-(PLANMalaysia).pdf
“Smart city technology solutions from SINGYES such as Smart Light-adjusting Film/LED/Glass, sensor networks, advanced composites lighting/CCTV systems with infrastructure integrated, renewable energy solar solutions and 5G capabilities, allows for a safe and healthy smart living environment, bodes well for Malaysia’s smart city initiatives across the country, said Mr. Brian Hoo Wai Keong (何伟强), the CEO cum Executive Director of Metronic.
Metronic is aiming for USD1 billion market share of projects across Malaysia, Europe, United States of America, Middle-East and South East Asian regions in the next 3 years.
“Our aim is not too far fetch. USD1 billion market share is less than 1% of global investments in smart city technologies, which is expected to rise to USD135 billion by 2021*, according to world renowned research International Data Corp (IDC) Worldwide Semi-Annual Smart Cities Spending Guide, on the back of rapid telecommunications connectivity and hyper – urbanization,” said Brian Hoo. *Source: https://www.theedgemarkets.com/article/can-city-be-smart
Mr. Tang Li Wen (汤立文), Managing Director of SINGYES further shared, “SINGYES is very excited to partner Metronic, as our proven technology solutions has adorned world class buildings such as Shanghai Yaohan, Shanghai Le Meridien Hotel, Dalian Hekou Station’s railway platforms, Suzhou Nikko Hotel, The Langham Hotel (Hefei), W Hotel (Suzhou), Zhuhai Yuhai Global Financial Center, Suzhou Sun Wu Cultural Park, One Shenzhen Bay, Foshan Guangfa Bank, Guangzhou Grandplaza, Cadillac China 4S Head Office, and various renowed commercial buildings across Shanghai, China.”
Metronic’s ongoing cash call of up to RM42 million from its renounceable rights issue of up to 645,342,048 new ordinary shares at an issue price of 6.5 sen per Rights Share together with up to 484,006,536 free detachable warrants on the basis of 4 Rights Shares together with 3 free Warrants for every 2 existing Metronic Shares held by the entitled shareholders of the Company, will be put to good use to generate more profits for the Company by increasing Metronic’s project tender success rates. Currently, Metronic is in the midst of finalising tenders of several huge potential engineering projects worth up to RM300 million in Malaysia and across the region
Metronic registered commendable revenue of RM43 million for financial period ended 2018, with established projects under its belt such as KLCC Convention Centre, Melawati Mall, Mass Rapid Transit (MRT) Sungai Buloh – Kajang Line, KL Sentral, Sunway Velocity Hotel, Arcoris Mon’t Kiara (MK 20), Damansara City Hotel, KL Eco City, RADIA Bukit Jelutong Mixed Development, amongst others.
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