Nexgram unit gets offer to undertake projects worth RM338.8m

By Surin Murugiah / theedgemarkets.com | March 3, 2017 : 2:00 PM MYT

KUALA LUMPUR (March 3): Nexgram Holdings Bhd's unit Intra Binaraya Sdn Bhd (IBSB) received an offer from Oriental Mace Sdn Bhd (OMSB) to
undertake projects worth US$77 million (RM338.8 million) in total.

In a filing with Bursa Malaysia today, Nexgram said IBSB was issued an offer letter dated Feb 11 to be appointed as the principal contractor to undertake projects
listed in the engineering, procurement and construction contracts (EPC projects) and supplemental agreements entered into between AJ Biologics Sdn Bhd, AJ
Research & Pharma Sdn Bhd and AJ Research Center Sdn Bhd (AJ Group) with OMSB.

The projects are to build a vaccine manufacturing plant and a pharmaceutical and neutraceutical manufacturing plant, as well as to construct a research and
development laboratory and formulation development centre in Bandar Baru Enstek, Seremban.

Nexgram said OMSB had previously issued a letter of offer in respect of the EPC projects to Versatile Creative Bhd for the purpose of appointing the main
contractor on May 26, 2016.

"The letter of offer was subsequently voided and terminated by OMSB with effect from Jan 19, 2017," it said.
It said the duration of the EPC projects shall be up to 24 months upon the signing of the definite agreement.

Nexgram bags RM338m job to build plants and lab

The Star, Friday, 3 March 2017 | MYT 4:23 PM

KUALA LUMPUR: Nexgram Holdings Bhd's unit has bagged a US$77mil (RM338.80mil) contract to build two plants and a laboratory in Bandar Baru Enstek, Negeri Sembilan.

It said on Friday that its unit Intra Binaraya Sdn Bhd had received a letter of award dated Feb 11 from Oriental Mace Sdn Bhd, which was the principal contractor.

Oriental Mace is the existing engineering, procurement and construction (EPC) contractor for the project to build a vaccine manufacturing plant, a pharmaceutical and neutrical manufacturing plant and a research and development laboratory.

Oriental Mace previously issued a letter of offer for EPC projects to Versatile Creative Bhd to be the main contractor on May 26, 2016.

Under the agreement, Oriental Mace as the EPC principal contractor had to settle all outstanding payments owed to the contractors or any parties while undertaking the projects.

Oriental Mace also had to settle and pay all the outstanding payment prior to the execution of the letter of offer.
“The duration of the EPC projects shall be up to 24 months upon the signing of the definite agreement,” it said.

PPB, Mudajaya, PUC Founder, Scomi Engineering, IHH, Sumatec, Hock Seng Lee, Nexgram and
Tiger Synergy

By theedgemarkets.com / theedgemarkets.com | March 4, 2017 : 1:11 AM MYT

Translated by Google Translator:

Nexgram Holdings Bhd's unit Intra Binaraya Sdn Bhd (IBSB) received an offer from Oriental Mace Sdn Bhd (OMSB) to undertake projects worth US$77 million (RM338.8 million) in total.

Nexgram said IBSB was issued an offer letter dated Feb 11 to be appointed as the principal contractor to undertake projects listed in the engineering, procurement and construction contracts (EPC projects) and supplemental agreements entered into between AJ Biologics Sdn Bhd, AJ Research & Pharma Sdn Bhd and AJ Research Center Sdn Bhd (AJ Group) with OMSB.

The projects are to build a vaccine manufacturing plant and a pharmaceutical and neutraceutical manufacturing plant, as well as to construct a research and development laboratory and formulation development centre in Bandar Baru Enstek, Seremban.

I'm calling a buy call.TP 3 cents worst case scenario.Best case scenario if profit rise in tandem with revenue(TP 5 cents).Can be target takeover or injection of businesses due to now just 1 cents worst 20 millions.NTA 7 cents.FA no problems.Number of shares 2.07 billions.

Came across this at their company's website. it does say that it wont have any material impact in their upcoming financial ending but it should be positive in the next financial. Interesting counter. 

Quote taken from : https://nexgram.co/2020/03/31/nexgram-industries-enters-distribution-agreement-for-mda-approved-covid-19-medical-supplies-31-mar-2020/

31 March 2020 – Nexgram Holdings Berhad wishes to announce that Nexgram Industries Sdn. Bhd., the wholly-owned subsidiary of the Company had entered into an Exclusive Master Distributorship Agreement with Tri-G Technologies Sdn. Bhd. (“Tri-G”) to carry out the business of procurement and distributing Tri-G’s medical supplies, including medical devices and Coronavirus test kits.

Malaysia Medical Device Authority (MDA) special access approved items include COVID-19 IgM/IgG rapid test kit which is used for qualitative detection of the IgM and IgG antibodies of COVID-19 in human serum/plasma or whole blood. Tests typically take two (2) to fifteen (15) minutes to complete. The distribution is dedicated to medical centres only and all test are advised to be conducted by a licensed phlebotomist, medical practitioner or professionals.

According to Tri-G, other medical devices such as quantitative RT-PCR (Reverse Transcription Polymerase Chain Reaction) or RT-qPCR (Quantitative Reverse Transcription PCR) machines, reagents and test kits, ICU ventilators, and PPE are some of the medical supplies facing global supply shortage.

The medical supplies distributed to public hospitals are dedicated to Nexgram Covid-19 AID Team, contributing back to Covid-19 pandemic relief.

MDA is the government agency entrusted to serve the Malaysia medical device’s industry. It is a federal statutory agency under the Ministry of Health Malaysia to implement and enforce the Medical Device Act 2012 (Act 737). The main objectives of the Act are to address public health and safety issues related to medical devices and to facilitate medical device trade and industry.

Tri-G is a MDA licensed medical supplies distributor with GDPMD certificate.

The Agreement is not expected to have a material effect on the net assets, gearing or earnings of the Company and its subsidiaries for the financial year ending 31 July 2020.

About Nexgram Industries

Nexgram Industries Sdn Bhd (NISB) is a wholly owned subsidiary of Bursa Malaysia listed Nexgram Holdings Berhad (NEXGRAM). NEXGRAM is a diversified investment company having businesses from IT, security and surveillance, logistics, property and various industries.

NISB invest in industrialisation 4.0 business which strives in automation, big data, and artificial intelligence. The company currently provide industrial cable solution for the telecommunication market, as well as carrying master distributorship for Electronic Vehicle (EV) charging solution in the South East Asian markets via NISB wholly owned subsidiary Nexgram Zhida New Energy Development Sdn Bhd. Some of Zhida technology clients include Tesla, Volvo, SAIC, JAC, Nissan, Porsche and SVW.