News

  • 09 Jun 2016 1:23 PM | Tey (Administrator)

    Altech Chemicals Ltd (ASX:ATC) has secured MAA Group Berhad (MAAG) as a cornerstone investor.

    MAAG will subscribe for $1 million of Altech at $0.086 per share, (March 2016 placement shares).

    MAAG is a Malaysian publicly listed insurance, investment, credit and finance group with total assets of RM1.45 billion and annual turnover of RM484 million.

    Altech agreed with MAAG for participation in the in March 2016 share placement, but its participation was subject to the completion by MAAG of internal governance requirements and due diligence processes, all of which have now been satisfied.

    Iggy Tan, managing director for Altech, commented:

    “We are very excited to have a cornerstone investor with the pedigree of MAAG join our register.

    "Altech continues to be most appreciative of the support for the company and its HPA project by Tunku Ya’acob bin Tunku Tan Sri Abdullah and his associated companies."

    MAAG will now hold around 6% of Altech.

    Source: www.proactiveinvestors.com.au

  • 07 Jun 2016 10:41 PM | Tey (Administrator)

    NORTHRIDGE, CA and PERTH, AUSTRALIA and CAMBRIDGE, UNITED KINGDOM--(Marketwired - Jun 7, 2016) - Avita Medical Limited (ASX: AVH) (OTCQX: AVMXY) has furthered its expansion into the Asian market with the appointment of a specialized wound care distributor for its products in Malaysia.

    The Company said it had concluded a deal with Mintcare, which specialises in the distribution of wound care products throughout the Asia-Pacific region. Avita Medical said Mintcare would first focus on Malaysia in its marketing of Avita's regenerative medical devices for burns, wounds and skin conditions. Mintcare has a 4-person sales force in the South-east Asian country, where vitiligo alone is reported to affect an estimated 450,000 people1, chronic wounds some 180,0002 patients, and large burns annually leave about 1,2003 Malaysians hospitalized.

    Avita Medical's ReCell® technology works through the rapid delivery of viable cells harvested from a piece of the patient's own skin and is administered by spraying the cells onto the affected area to trigger healing. ReCell® will be launched at an international wound care conference in Sabah, Malaysia in August. Singapore-based Mintcare also has commercial presence in Hong Kong, Indonesia, Philippines, Sri Lanka, Thailand, and Vietnam, and its range includes wound care products that complement Avita's offering.

    "The addition of ReCell to the Mintcare product portfolio brings great synergistic opportunities," said Mintcare Director Lamine Guendil. "Mintcare has successfully developed a distribution network in South East Asia specifically in the chronic wound care field, primarily targeting diabetic foot ulcers and venous leg ulcers with topical oxygen therapy. We're confident our many years of experience in this industry and our in-depth knowledge of the local environment and culture, will deliver success to ReCell® in Malaysia."

    Avita Medical's CEO, Adam Kelliher, said the deal in Malaysia was another milestone in the Company's strategy to roll-out its regenerative medical devices in key Asian markets. In recent months, the Company has announced distribution agreements with parties in China, Japan and South Korea, and it has been active in Taiwan, where it donated devices following a mass casualty event last summer in a waterpark that left some 500 people burned.

    "The deal with Mintcare will give Avita Medical an active presence to deliver our innovative treatments to Malaysia, a market of 30 million people, and further underscores the significance of the broader Asian healthcare market for our company," Kelliher said. "We will keep developing our distributor network in the region so that we are well-placed to address the significant commercial opportunities in Avita."

    ABOUT RECELL® AND RES™
    ReCell® is Avita Medical's unique proprietary technology that enables a clinician to rapidly create, at point of care in approximately 30 minutes, Regenerative Epithelial Suspension (RES™) using a small sample of the patient's skin. RES™ is an autologous suspension comprising the cells and wound healing factors necessary to regenerate natural, healthy skin. RES™ has a broad range of applications and can be used to restart healing in unresponsive wounds, to repair burns using less donor skin, yet with improved functional and aesthetic outcomes, and to restore pigmentation and improve cosmesis of damaged skin.

    ABOUT AVITA MEDICAL LTD
    Avita Medical develops and distributes regenerative products for the treatment of a broad range of wounds, scars and skin defects. Avita's patented and proprietary collection and application technology provides innovative treatment solutions derived from a patient's own skin. The company's lead product, ReCell®, is used in the treatment of a wide variety of burns, plastic, reconstructive and cosmetic procedures. ReCell® is patented, CE‐marked for Europe, TGA‐registered in Australia, and CFDA‐cleared in China. In the United States, ReCell® is an investigational device limited by federal law to investigational use. To learn more, visitwww.avitamedical.com.

    1 Su-ming Wong et al, 2009
    2 Frost & Sullivan market analysis, 2011
    3 Tam Song et al, 2015

    Contact:

    FOR FURTHER INFORMATION

    Avita Medical Ltd
    Adam Kelliher
    Chief Executive Officer
    Phone: +44 (0) 1763 269 772
    akelliher@avitamedical.com

    Avita Medical Ltd
    Tim Rooney
    Chief Financial Officer
    Phone: + 1 (818) 356-9400
    trooney@avitamedical.com

    Avita Medical Ltd
    Gabriel Chiappini
    Company Secretary
    Phone +61(0) 8 9474 7738
    gabriel@laurus.net.au

    UK/EU
    Instinctif Partners
    Gemma Howe/Sue Charles
    Phone +44 (0)20 7866 7860
    avitamedical@instinctif.com

    USA
    The Ruth Group
    David Burke, Investor Relations
    Kirsten Thomas, Public Relations
    Phone: +1 (646) 536-7009 / +1 (508) 280-6592
    dburke@theruthgroup.com
    kthomas@theruthgroup.com

    Australia
    Monsoon Communications
    Dean Felton
    Investor Relations / PR
    Phone: +61 3 9620 3333
    Mobile: +61 (0) 411 698 499
    deanf@monsoon.com.au

    Source: Yahoo News

  • 07 Jun 2016 2:42 PM | Tey (Administrator)

    SYDNEY: Australia’s central bank held interest rates steady at the all-time low of 1.75 percent Tuesday following strong growth figures, while keeping an eye on low inflation.

    The Reserve Bank of Australia cut the official cash rate from 2.0 percent last month to spur the economy, but gave little indication of further easing in a statement Tuesday.

    “The Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and inflation returning to target over time,” Governor Glenn Stevens said.

    Lower-than-expected inflation prompted the central bank to make its first rate cut in a year last month, a move seen as keeping a lid on further appreciation in the Australian dollar.

    The central bank said Tuesday inflation remained “quite low” and was expected to stay that way for some time given subdued growth in labour costs and low cost pressures elsewhere in the world.

    The currency rose on the news, climbing from 73.70 US cents a few minutes before the announcement to 74.22 US cents soon after.

    Australia is enjoying growth which outstrips some of the world’s most advanced economies, and last week defied market forecasts by reporting an annual year-on-year reading of 3.1 percent in the first quarter on the back of strong exports.

    The RBA said Tuesday that lower interest rates had supported domestic demand and were helping trade — factors which were assisting the economy to make needed adjustments as it exits a mining investment boom.

    Stevens said recent data suggested overall growth was continuing despite a large decline in business investment, but noted room for optimism in areas outside exports.

    “Other areas of domestic demand, as well as exports, have been expanding at a pace at or above trend,” he said.

    “Labour market indicators have been more mixed of late, but are consistent with continued expansion of employment in the near term.”

    Economists had widely expected rates to stay on hold after last month’s cut, potentially until the next inflation data due in late July.

    “The RBA were never going to cut the cash rate today, but there was always a strong possibility of a clearer easing bias in the last paragraph,” chief market strategist at IG Chris Weston said, referring to the bank’s monetary statement.

    “That hasn’t occurred and the RBA have delivered a statement that is fairly dull, uneventful and could give some renewed belief to Australian dollar bulls.”

    Source: FMT News

  • 06 Jun 2016 9:10 AM | Tey (Administrator)

    Japan’s Kawasaki Kisen Kaisha (K Line) has formed a joint venture company owning a Malaysian-flag panamax vessel with Halim Mazmin Group (HMG) in order to participate in a tender for long-term contract with TNB Fuel Services Sdn Bhd (TNBF), and a subsidiary company of HMG has signed one long-term consecutive voyage charter contract with TNBF. TNBF has signed five long-term contracts with four Malaysian shipping companies in this tender.

    The co-owned panamax vessel will transport 1.5m tons of steaming coal per year from Indonesia or South Africa or Australia to Malaysia consecutively for 10 years from September of 2016.

    Tenaga Nasional Berhad (TNB) is the largest power utility company in Malaysia and has its total generating capacity of about 11,000 mW which is one of the largest generation capacity in Southeast Asia.

    TNBF is a subsidiary of TNB and supplies coal and fuel to the TNB Generation.

    HMG is a group of companies operating ship owning, flight training academy, maritime university and tourism established by Tan Sri Halim Mohammad.

    Source: Splash 247 - Global Maritime and Shipping News

  • 06 Jun 2016 7:59 AM | Tey (Administrator)

    BEIJING (Scrap Monster): The ferrous scrap imports by Malaysia dropped significantly during the initial two-month period of the current year. This is in accordance with the data published by the Malaysian Department of Statistics. The imports during the month of February alone have dropped by almost one-fourth from the previous month. The imports had almost halved in January this year when matched with the month before that.

    Jan-Feb ’16 imports

    The ferrous scrap imports by Malaysia during Jan-Feb ’16 totaled 29,634 tonnes. The imports have dropped sharply by 69.7% when compared with the same period in 2015. Malaysia’s ferrous scrap imports had totaled 97,800 tons during the corresponding two-month period in 2015.

    The largest exporter of ferrous scrap to Malaysia was Singapore. The imports from Singapore totaled 11,947 tons, accounting for 40.3% share of the total imports by Malaysia during this period. The imports from Singapore dropped heavily by 71.2% year-on-year. The imports had totaled 41,416 tons in Jan-Feb ’15.

    The second largest supplier of ferrous scrap to the country was the US. The ferrous scrap imports from the US dropped by 9.1% from 6,144 tons in Jan-Feb ’15 to 5,538 tons during the initial two months of 2016. In third place was Japan with 3,352 tons. The imports from the country surged higher by 56.5% over the previous year.

    The other key exporters of ferrous scrap to Malaysia during the two-month period were Australia (2,551 tons), Latvia (2,010 tons) and the UK (1,983 tons).

    Monthly imports-Feb ‘16

    The Malaysian ferrous scrap imports totaled 12,847 tons in February this year. The imports during the month were down by over 45% when matched with the year-ago month. When matched with the previous month, Feb ’16 imports were down by 23.5%. The primary exporters of ferrous scrap to Malaysia during the month were Singapore (5,931 tons), Japan (2,958 tons), Australia (1,578 tons) and the US (1,095 tons).

    Monthly Imports-Jan ‘16

    The country’s ferrous scrap imports during January this year totaled 16,787 tons. The key suppliers during the month were Singapore (6,016 tons), the USA (4,489 tons), Latvia (2,010 tons), the UK (1,959 tons), Australia (973 tons), Japan (394 tons), New Zealand (258 tons) and Papua New Guinea (203 tons).

    Yearly Imports-2015

    Malaysia’s yearly imports during the previous year had dropped to the lowest level since 1998.

    The ferrous scrap imports by Malaysia dropped significantly during the month of December last year. This is when matched with the previous year. However, when comparing with the previous month, the scrap imports increased significantly during December 2015. The imports during the entire year 2015 too fell sharply when matched with the previous year.

    According to government trade statistics, the country imported 31,000 tons of scrap steel during December last year. The imports plunged heavily by 45.2% over the previous year. The Malaysian scrap imports had totaled nearly 57,000 tons during December 2014. When compared with November last year, the imports surged higher by over 46%. The imports recorded the highest volume since May last year.

    The cumulative steel scrap imports by Malaysia during the entire year 2015 totaled 446,000 tons. The yearly imports dropped sharply by almost 54% when matched with the imports during 2014. The Malaysian steel scrap imports during 2014 had totaled 963,000 tons. 

    Source: Metal.com

  • 02 Jun 2016 3:47 PM | Tey (Administrator)

    SEREMBAN: Property developer Matrix Concepts Holdings Bhd (MCHB) has made its maiden venture abroad with the launch of the M.Carnegie boutique low-rise apartments in Melbourne.

    MCHB group managing director Datuk Lee Tian Hock said 52 apartments would be built on 1,865 sq m in the suburb of Carnegie, located some 15km from the Melbourne central business district.

    “The entire project will have a gross development value of RM100mil,” he told reporters at his office in Seremban.

    Lee said 20 of the 52 units costing between A$419,500 (RM1.26mil) and A$859,000 (RM2.59mil) were sold out when the project was launched in Melbourne last week.

    The apartments come in various sizes ranging from 52.9 sq m to 173.6 sq m.

    “Although we are confident that the units would be sold out, we decided to start our first foreign project on a small scale to mitigate any potential risk.

    “We are already being offered properties in Melbourne and I can confidently say that the M.Carnegie will not be our first and last project in Melbourne which has been ranked as the world’s most livable city,” he said.

    Lee said those who wished to buy the property should do so before July 1 as the Australian authorities have introduced a new policy which will increase the stamp duty from the current 3% to 7%.

    He said M.Carnegie was also strategically located with Australia’s largest shopping complex Chadstone Shopping Centre, the Monash University Caulfield as well as other facilities such as train and tram stations, supermarkets and schools all located within a short distance.

    Work on the project would begin in September and scheduled for completion in November next year.

    “For those who wish to lease our their properties, we guarantee them 5% returns annually,” he added.

    Source: Star Online

  • 01 Jun 2016 3:07 PM | Tey (Administrator)

    SUBANG: For years, the family of Corporal Robert Bowtell in Australia has heard about his exploits in the Vietnam War.

    Almost five decades after he was killed in action, Bowtell’s remains, as well as those of 31 other Australian servicemen, were making their way home yesterday.

    His grandson, Corporal Chris­topher Bowtell, 27, was part of a group of Australian servicemen who loaded the caskets onto the two aircraft heading for the Royal Australian Air Force base in Richmond, Sydney.

    Christopher, who is serving in the Second Combat Engineer Regiment of the Australian Army, said his family was excited at the prospect of his grandfather’s remains finally arriving home.

    “We are all going to be together and be there to wait for his return home,” he said during the handing over ceremony fo the remains at the Royal Malaysian Air Force base here.

    Christopher, who is currently based in Butterworth, said his grandfather had been investigating a tunnel in Vietnam.

    “He went in and the tunnel collapsed. When they got him out, he had already suffocated,” he said.

    Present at the yesterday’s ceremony were Deputy Defence Minister Datuk Seri Mohd Johari Baharum and Austra­lian Repat­riation Commissioner Major-General (R) Mark Andrew Kelly.

    The return of the remains was the result of a joint operation – Ops Reunite – between the Malaysian and Australian governments.

    The operation saw a team of archaeologists, anthropologists and forensic odontologists from the Australian Unrecovered War Casualties Agency and Defence Ministry working together with other forensic specialists to exhume and identify the remains.

    The remains, which were previously buried at the Commonwealth War Graves in Terendak Camp, will be given a national-level military ceremony before being re-interred at graves throughout Australia.

    Due to the request of family members, three remain buried at the Commonwealth War Graves.


    Source: The Star Online, 1st June 2016

  • 30 May 2016 12:30 AM | Tey (Administrator)

    Tee Kim Siew, who heads the real estate arm of one of Malaysia's larger conglomerates AlloyMtd, is not too worried about the threats of over-supply and falling values that now confront other big league developers.

    That's because for Mr Tee and the AlloyMtd, the mantra has always been to build for the local market.

    For an offshore developer, especially with its financial heft, AlloyMtd has a surprising lack of major CBD projects. But it does have an impressive array of boutique projects clustered around inner suburban Melbourne.

    Starting with a joint venture developing a resort on the Whitsunday Islands a decade ago, AlloyMtd turned its interest to Melbourne. Its first project was a modest $20 million apartment building in North Melbourne in 2011.

    That was followed soon after by a $25 million, 39-unit development in Port Melbourne, and then a $40 million, 59-unit in South Yarra.

    The Kuala Lumpur-based developer is now embarking on its most ambitious project yet, also in South Yarra, a $60 million development designed by Elenberg Fraser.

    "We see a lot of developers from the region go for really big projects," Mr Tee told The Australian Financial Review on a recent visit to Melbourne.

    "We felt we needed to study the market. We don't want to compete with them, but there is a niche in which we can play.

    "We decided we wanted to be a boutique player.

    "We believe that wherever you go, whatever you build, whatever you sell is for the local market."

    Treading its own path

    As a result, AlloyMtd does not follow the path taken by many of its regional peers, which use their networks in Asia to market their Australian apartments.

    Instead the Malaysian developer's apartments are aimed squarely at local owner-occupiers.

    Its boutique, "go local" approach is not due to any lack of means. In London, it is pursuing a $1 billion, mixed use project at 1 Crown Place. It will comprise a small hotel, retail, office space and 247 apartments.

    With interests in infrastructure, engineering, construction and development, AlloyMtd is active in 15 countries. In Malaysia alone it is the second largest toll road operator and develops residential townships along with its other businesses.

    As with its Melbourne approach, the residential element of AlloyMtd's London project is also pitched towards a local market of owner-occupiers, rather than offshore investors who are buying for different motivations.

    "If we sell to the Asian community then what happens at night is that most of the lights will be off. We want the lights to be on. We're mindful of that," Mr Tee said.

    At the Rockley Gardens project in plush South Yarra, the developer has reduced the original number of units from 78 to 49, making each apartment larger, in response to a market which, Mr Tee said, is now favouring higher end, more spacious dwellings.

    One-bedroom apartments will range up to $630,000, two-bed properties up to $1.55 million and three-bed apartments up to $3.5 million.

    Now privatised, with a worth in the realm of $1 billion, the Malaysian conglomerate is also on the hunt for passive assets in Australia. It was a recent bidder on One Collins Street, a Melbourne CBD office property with a bluechip address that was eventually bought by property magnate Harry Stamoulis for $125 million.

    "If it's something worth looking at, we'll look at it. If it's too big we are always willing to team up with another party," said Mr Tee.

    "The thing we look for is yield and capital value. We love recurring income."

    Source: ARF.COM


  • 06 May 2016 2:47 PM | Tey (Administrator)

    Malaysia Airlines will be using Amadeus technology to expand its services throughout Australia and to increase passenger service and satisfaction levels.

    Amadeus will supply a new Passenger Service System (PSS) - the Amadeus Altéa Suite. It’s a huge step forward for Malaysia Airlines and will enable it to expand services in Australia and from its Kuala Lumpur hub as well as manage reservations, inventory, departure control, ticketing, passenger self–service check-in, departure control and e-commerce.

    It will be able to offer travellers enhanced speed and convenience, a sophisticated web booking experience, state of the art mobile applications and bundled offers to suit individual needs. Passengers can expect a leaner, more agile experience, from booking tickets to pre-purchasing excess baggage, meals and managing loyalty points, all at the click of a button. The suite also includes comprehensive analytics for continuous improvement.

    Malaysia Airlines’ Group Chief Executive Officer, Christoph Mueller said, "We are determined to give Malaysia Airlines the technology platform it needs to provide the world’s best services to our customers. The move to Amadeus, underpinned by a ground breaking continuous release approach to development, will truly put Malaysia Airlines at the leading edge of airline technology globally."

    Hazem Hussein, Executive Vice President, Airline Commercial, Amadeus Asia Pacific added, “We are pleased to be selected by Malaysia Airlines to help the airline optimise its operations and revolutionise the customer experience. By choosing Altéa, Malaysia Airlines will join a strong group of more than 120 forward-thinking airlines that understand the necessity of flexibility and customer centricity that our technology is able to bring to its operations.”

    The agreement will also ensure Malaysia Airlines have even greater co-operation with its codeshare partners and within the oneworld alliance, enabling a streamlined customer experience between member airlines.

    With this advanced technology, Malaysia Airlines will reinvent itself and be well-equipped to embrace the complex and dynamic conditions in this ever-changing global airline market.


    Source: iTwire.com, 5 May 2016

  • 03 May 2016 9:32 AM | Tey (Administrator)

    Malaysia-based S P Setia Berhad announced on Friday (29 April) that it has secured a prime site in the upper east-end of Melbourne’s central business district (CBD) for A$101 million.

    This is the property developer’s fifth acquisition in Australia, and comes right after another acquisition in Melbourne just two weeks ago.

    Located at 308 Exhibition Street, the approximately 44,563 sq ft site was acquired from Australian telecoms giant Telstra in a highly competitive expression of interest exercise.

    “This is the largest east-end CBD development site (in Melbourne) to be sold in over a decade,” said Dato Khor Chap Jen, President and CEO of SP Setia.

    He added: “This development will boast a combination of multi-level retail, prime A-grade office space and luxurious apartment towers.”

    The site is situated close to universities, government buildings, hospitals and public transport networks, such as trams and bus routes.

    The A$640 million development is slated to be launched in the second half of 2017.


    Source: PropertyGuru.com.sg, 1 May 2016


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