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September 23, 2021 -Thursday

 
  VIVOCOM - SUCCESSFUL COMPLETION OF ITS 45% EQUITY INTEREST IN V DEVELOPMENT SDN BHD

Monday 29/03/2021



Table
Flanked by two of his Board members, Dato Azahar bin Rasul and Ar. Adrian Lim, Dato Seri Chia Kok Teong is optimistic about the outlook and prospects for the Vivocom Group


KUALA LUMPUR, March 29 (Bernama) -- On 29th March 2021 marks the completion of the multiple corporate proposals undertaken by Vivocom Int’l Holdings Berhad. With the successful listing of the 164.25 million consideration shares and the 169.93 million private placement share on the ACE Market of bursa Malaysia, marks the completion of the Group’s foray into the property development sector, together with the fund raising exercise under taken by the Group.
 
Vivocom Int’l Holdings Berhad Group CEO Dato Seri Chia Kok Teong’s voluntary self-imposed three-year moratorium serves as testimony to his strong belief that the Group is on its way to an even brighter future, and that he is in for the long haul to create prosperity for all long term shareholders.
 
To recap, in an announcement to Bursa Malaysia on 4 November 2020, the company had announced that, amongst others, Dato Seri Chia had committed that he would not dispose of his personal stakes in Vivocom  for the next three years.
 
Dato Seri Chia explained that the key objective of his self-imposed moratorium is to give confidence to the investing public on his longterm plans for the group and transforming Vivocom into a formidable company in the years to come. Even our placee for the private placement exercise has a moratorium of the next 12 months on his stakes.
 
“I promise you that I will do all I can to create success and prosperity in return for your faith in me, my Board and Management. With my self-imposed 3 year moratorium, I’m totally committed to delivering on my promise,” added Dato Seri Chia.
 
“We will all be working tirelessly and relentlessly to transform the Vivocom Group into a behemoth Conglomerate within the next 10 years to create wealth for all concerned.”
 
The Company has recently made a spate of corporate announcements and press releases which should provide or instil more confidence to the public in the foreseeable future of Vivocom as these are value enhancing corporate moves as Dato Seri Chia charts the course forward for the Group.
 
Bonus Warrant 1:3
Amongst these corporate announcements made are the 1:3 Bonus Warrant Issuance which would:-
 
i. Reward existing shareholders without incurring any costs; and
ii. Allow shareholders to benefit from potential capital appreciation from their Warrants.
The bonus warrants actually reflects the Board’s rising confidence in the Group’s robust and exponential growth prospects in the foreseeable future, making rewarding its shareholders top priority.
 
Private Placement of New Shares Comes With Moratorium Imposed
The Company had also announced a private placement exercise of 10% of its share capital potentially raising funds of up to RM100M. The private placement comes in three different tranches with a minimum of 6 months, 8 months and 10 months moratorium imposed.
 
“I have received many calls from high net-worth individuals and institutions that have expressed a keen interest to subscribe to the private placements. I have explained to them my Self- Imposed Moratorium (SIM) of 3 years, and would also require the placees to undertake a minimum of 6 months moratorium,” Dato Seri Chia elaborated.
 
“There is no point if they just subscribe to the shares at a 6 % to 10% discount and dispose of the shares in the market immediately, no value added.”
 
Game Changer Sand Deal
At the end of February, Vivocom also announced it had secured a lucrative sand contract worth RM3.79B that could potentially soar to RM6B. This is a massive win and represented a Game Changer for the Group as it would contribute significantly to earnings for the next few years.
 
“The first of the sand shipment shall commence by the early May, as our K2 export permit will be ready soon. There have been some delays caused by the MCO. Samples of sand have been despatched to Hong Kong and should arrive there soon for testing and ascertainment if they are the correct type sought by the client. Meanwhile the client is in the midst of preparing an irrevocable DLC (Documentary Letter of Credit) for us.”
 
“Let there be no doubt that this sand contract is a real and genuine a business contract as time will prove.”
 
“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,” Dato Seri assured.
 
Sands from Malaysia are very much a sought after commodity worldwide.The quality is uncontaminated with volcanic ashes or other impurities. Our silica sand, marine sand, river sand and river-mouth sand are amongst the best in the world.
 
The Vivocom Group’s core businesses today are property development, construction, aluminium and telecommunications.

SOURCE : Aegis Communication on behalf of Vivocom

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Jason Fong
Tel: +6012 952 0015
Email: jason@aegiscomm.com.my 

--BERNAMA

 
 
 

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