Dato Seri Chia Kok Teong (middle), Vivocom’s CEO with Mr Patrick Tan (right) Vivocom’s Executive Director, and one of their Chinese buyers, Mr Liu Yu (left). (picture taken prior to 1/4/21 at a private residence)
Awaiting confirmation of contracts worth up to several Billions! KUALA LUMPUR, May 27 (Bernama) --
In a filing to Bursa Malaysia, Vivocom announced that it has embarked on a strategy of sourcing and supplying commodities and minerals to China and other countries for the foreseeable future in light of the world’s soaring demand and race for scarce commodities to rebuild their economies after the pandemic.
“Vivocom is thrilled to share that it is in final negotiations with several parties for the supplies of commodities and minerals worth conservatively several billions, which should be concluded soon,” declared Dato’ Seri Chia.
“All such contracts will be for the supplies of commodities and minerals for a minimum of two years, renewable to 6 years as the demand for them skyrocket along with China’s recovery of its economy to pre-pandemic levels. China’s consumption, about half of the global total, will keep growing from record levels, as the rest of the world also rebounds strongly.”
“We are finalising at least three such contracts for iron ores worth from RM290M monthly up to RM6B in total to be announced ASAP when completed, targeted by end June/July. We are sorting the little but very crucial details. Once all the details are agreed, things will be finalised and move very quickly.”
“There is so much more to come. Our buying partners’ extensive network is ginormous with extremely deep pockets. We have the capacity to buy up USD10B or more worth of sand and other minerals and commodities,” Dato’ Seri Chia explained.
“We are currently in the market to buy a limitless amount of sand of any kind, laterite nickel ore, iron ore, R50/R60 steel bars, bauxite ores, and so much more minerals or commodities for our clients.”
“For the financial year ended 30th
June 2022, we target to deliver at least RM3 Billion worth of sands and minerals to our clients overseas with gross margins of RM250M or higher to contribute to Vivocom’s profits positively for that year.”
“We plan to triple or quadruple our revenues and profits from sand, mineral or commodity exports from here onwards. Over the next few months, more contracts will definitely be secured, signed and announced,” Dato Seri Chia added. Vivocom’s Improving Fundamentals
Vivocom’s recently released 2nd
Quarterly Report for the 6-months ended 31 December 2020 showed an impressive 891% and 126% improvement in profits for Q-on-Q and Y-on-Y, respectively.
“We are pleased with the improving fundamentals of our latest quarterly financials. Suffice to say for now, Vivocom’s next three financial years ending 30th
June 2022, 2023 and 2024 are going to be very prosperous years indeed.” Dato Seri Chia assured.
“Once all the iron ores contracts under negotiation are finalised and announced, we are also targeting several more contracts for sand and mineral exports worth up to several Billions over the next few months.”
“These are all cash cow projects, with highly positive cash flows generated. All orders come with irrevocable, transferable and revolving Documentary Letter of Credit executed first prior to deliveries being made.”
“The highly positive cash flows earning will shortly be reflected in Vivocom’s financial performance as all the contracts secured are cash cow projects. We will implement a generous dividends policy at the appropriate time as our revenues and earnings visibility become clearer, so mark my words,” Dato Seri Chia asserted. Resilient Share Performance
In early November 2020, Vivocom’s shares soared from RM0.45c to reach a peak of RM2.05 on 19 November, with a massive 2.47B shares traded in 21 days
“Even when the price soared to RM2.05, I did not sell a single share because I said I would not, with my self-imposed moratorium for three years. I know I am onto something monumental.”
“The fact that Vivocom did not receive any UMA during the November’s rally speaks for itself. There was absolutely no artificial market interference!” Dato Seri Chia stated.
“Most people in the market often look for earnings and conventional measures. But it's LIQUIDITY that moves markets. This is where Vivocom’s pure liquidity-driven shares will prove its resilience.”
“It is precisely this inherent resilience in Vivocom’s shares, driven solely by pure retailers’ momentum creating tremendous liquidity that gave me reason to be optimistic that the Bull-Run which occurred in November will repeat its performance again in the future.” Dato Seri Chia confided. Exciting Growth Company - Vivocom
“Based on the contracts worth up to several billions in the pipeline pending conclusion, the purpose of this Press Release is, therefore, to highlight that Vivocom is indeed a very exciting high growth company.”
“The PR is also to show that we are totally committed to building Vivocom into a behemoth conglomerate in the foreseeable future and to ultimately multiply wealth for our shareholders in the long term.”
“Together with the vision and ambition of the Board, my team and I will build the foundations of a new and thriving Vivocom. Every single day we will be working to secure more contracts and be more successful. We are supremely confident we will come good for both Vivocom’s immediate and long term future,” Dato Seri Chia ended.Source: Vivocom Intl Holdings Berhad
FOR MORE INFORMATION, PLEASE CONTACT:
Name: David Hah
Tel: 03 6413 0580