Vivocom marks its successful completion of its 45% equity interest this March

The 29th of March 2021 marks the completion of the multiple corporate proposals undertaken by Vivocom Int’l Holdings Berhad ("Group" or "Company"). With the successful listing of the 164.25 million consideration shares and the 169.93 million private placement shares on the ACE Market of Bursa Malaysia, the Group’s foray into the property development sector has been completed, together with the fund raising exercise.

The Group's Chief Executive Officer (CEO), Dato Seri Chia Kok Teong, whose voluntary self-imposed 3-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.

In an announcement to Bursa Malaysia on the 4th of November last year, 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 3 years.

The CEO explained that the key objective of his self-imposed moratorium is to give confidence to the investing public on his long-term plans for the Group and transforming Vivocom into a formidable company in the years to come. Even the Company's 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 more confidence for the public in the foreseeable future of Vivocom as these are value enhancing corporate moves as the CEO charts the course forward.

Bonus Warrant 1:3
Amongst these corporate announcements made are the 1:3 Bonus Warrant Issuance which would:-

1. Reward existing shareholders without incurring any costs; and

2. 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 a 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 RM100 milliom. 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 RM3.79 billion that could potentially soar to RM6 billion. This is a massive win and represents 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 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 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,” the CEO 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.

This content is provided by Aegis Communication Sdn Bhd.

Interested in having your announcements on Malaysiakini? Contact the announcements team at [email protected] or whatsapp on +60 17-323 0707 for urgent matters.