MINETEC
Minetech Resources Berhad
Company Background
AIZO's Unit Signs Power Purchase Deal with TNB
AIZO Group Bhd, formerly known as Minetech Resources Bhd, says its 63 per cent-owned Wawasan Demi Sdn Bhd has formalised a power purchase agreement (PPA) with Tenaga Nasional Bhd (TNB) for the development of a 99.99 MWac large scale solar photovoltaic (LSS) facility in Kampar, Perak.
This follows the earlier acceptance of the Letter of Notification from the Energy Commission on Jan 6 2025, designating Wawasan Demi as the project developer under the national LSS programme.
Under the PPA, Wawasan Demi will design, construct, own, operate and maintain the solar photovoltaic energy generating facility, with electricity to be supplied to TNB's grid system.
"The PPA represents a major step forward in the realisation of one of AIZO's largest clean energy undertakings to date," it said today.
The project will be financed through a combination of internally generated funds and/or bank borrowings.
The 99.99 MWac Kampar solar facility is poised to become a significant contributor to AIZO's long-term earnings, while further reinforcing its presence in Malaysia's clean energy space.
AIZO executive chairman Datuk Abang Abdillah Izzarim said the project further solidifies its position as a growing force in the renewable energy sector.
It complements AIZO's established presence in civil engineering, infrastructure and bituminous products.
"It also reinforces the group's long-term vision of sustainable, diversified growth through strategic investments in high-impact sectors," he added.
$MINETEC / 7219 (MINETECH RESOURCES BERHAD)
Source: NSTP Online
Hot Take: My 2 Cents on AIZO Group Berhad’s Private Placement
AIZO Group Berhad, formerly known as Minetech Resources Berhad, has steadily evolved into a diversified entity with a presence in construction, financial technology (Fintech), bituminous products manufacturing, and renewable energy. With a continued focus on expanding its capabilities in these industries, the company continues to seek new opportunities to strengthen its market position and enhance its financial standing.
Recently, AIZO Group successfully raised funds through a private placement exercise, issuing up to 10% of its total shares. This fundraising initiative was structured under two possible scenarios, with the company securing approximately RM23.38 million in the minimum case and RM30.66 million in the maximum case.
The proceeds from this exercise are earmarked for several key initiatives, including the expansion of ongoing construction projects, partial repayment of existing borrowings, investment in its Fintech division, and enhancements to its bituminous products manufacturing and renewable energy operations. A significant portion of the funds will be channeled into construction projects such as the Selinsing Gold Mine, M Nova Project, and the Banting Industrial City development, ensuring the company remains competitive in the infrastructure sector.
One of the key advantages of raising funds through a private placement is its efficiency as a capital-raising tool for public-listed companies. Unlike bank borrowings, which increase a company’s debt burden, or a rights issue, which often results in significant dilution for existing shareholders, a private placement introduces new investors while maintaining a balanced capital structure.
Rights issues, though providing existing shareholders the opportunity to maintain their stake, can place downward pressure on stock prices if demand is weak. In contrast, private placements are typically structured to attract institutional investors or high-net-worth individuals, potentially increasing market confidence and liquidity in the company’s shares.
AIZO Group has recently completed its fifth tranche of private placement, marking another key milestone in its efforts to secure additional funding. This continued success in securing investor participation reflects confidence in the company’s business prospects and strategic direction.
The fresh injection of capital allows AIZO to accelerate its growth initiatives, particularly in sectors such as renewable energy and fintech, which are aligned with the broader technological and economic advancements in Malaysia.
With this latest fundraising exercise completed, the question now is whether AIZO Group will be able to leverage its newly raised capital effectively to drive long-term growth. The company’s ability to execute its expansion plans, secure new contracts, and improve its financial performance will be closely monitored by investors. If AIZO can capitalise on its strengthened financial position and successfully execute its growth strategies, it may continue to gain momentum in the market.
$MINETEC / 7219 (MINETECH RESOURCES BERHAD)
KUALA LUMPUR: Aizo Group Bhd, formerly known as Minetech Resources Bhd has secured a RM14.55mil contract to undertake external infrastructure works for a project in Serendah, Hulu Selangor, Selangor.
KUALA LUMPUR: Minetech Resources Bhd has changed its name to Aizo Group Bhd, with the name change to take effect from 9 am on Sept 25.
OTHERSMinetech Resources Berhad ("Minetech" or "the Company") - Proposed Granting of Options under the Share Issuance Scheme to the Directors and the Person connected to Director of the Company
$MINETEC / 7219 (MINETECH RESOURCES BERHAD)
PETALING JAYA: Minetech Resources Bhd has accepted a letter of award from Mah Sing Group Bhd to undertake the upgrading and construction of external road and drainage works for the latter’s M Nova development in Kuala Lumpur, worth RM16.1mil.
OTHERSMinetech Resources Berhad ("Minetech" or "the Company") - Letter of Award to Minetech Construction Sdn Bhd, a wholly-owned subsidiary of Minetech to undertake the proposed upgrading and construction of external road and drainage (JKR R.O.W) for Cadangan Pembangunan 3 Blok Pangsapuri Suite (2,080 Unit) di atas Lot 80646, Jalan Lingkaran Tengah II, Mukim Batu, Kuala Lumpur (M Nova)
Change of Company Name - AIZO GROUP BERHAD
Changes in Director's Interest (Section 219 of CA 2016) - DATIN FERIDAH BINTI BUJANG ISMAIL
KUALA LUMPUR: Minetech Resources Bhd narrowed its losses in the financial year ended March 31, 2024 (FY24) to RM7 million from RM10.59 million in the previous year.
© New Straits Times Press (M) Bhd
OTHERSMinetech Resources Berhad ("Minetech" or "the Company") - Provision of Financial Assistance pursuant to Practice Note No. 11/2001 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad
Quarterly rpt on consolidated results for the financial period ended 31/03/2024
Additional Listing Announcement /Subdivision of Shares
Additional Listing Announcement /Subdivision of Shares
MATERIAL LITIGATIONMinetech Resources Berhad ("Minetech" or "the Company") - Material Litigation pursuant to Paragraph 9.03 of the Bursa Malaysia Securities Berhad Main Market Listing Requirements in respect of Writ of Summons and Statement of Claim received from ManagePay Resources Sdn Bhd and the Defence and Counterclaim of the same
DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Intention to Deal During Closed Period
Change of Address
Titan Weekend Chart Reviews
$MINETEC / 7219 (MINETECH RESOURCES BERHAD)
Had been consolidating within a huge symmetrical triangle pattern here with RM 0.17+ as the main downtrend resistance.
For now trading towards the end of this pattern already and if able to hold above its RM 0.15 support, could breakout towards and beyond the RM 0.17+ major resistance levels soon.
Support: RM 0.15, RM 0.14, RM 0.125 areas
Resistance: RM 0.17, RM 0.185, RM 0.20, RM 0.21 areas
Additional Listing Announcement /Subdivision of Shares
OTHERSMinetech Resources Berhad ("Minetech" or "the Company") - Provision of Financial Assistance pursuant to Practice Note No. 11/2001 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad
Quarterly rpt on consolidated results for the financial period ended 31/12/2023
Titan Weekend Chart Reviews
$MINETEC / 7219 (MINETECH RESOURCES BERHAD)
Had a big breakout from its RM 0.14+ main downtrend resistance here since retracing over the past 1-2 months from its RM 0.24+ major resistance levels.
For now still holding strongly above its RM 0.165+ immediate support levels and if able to sustain, could breakout further towards and beyond the RM 0.20 - RM 0.22+ major resistance levels soon for an uptrend continuation pattern.
Support: RM 0.165, RM 0.14 areas
Resistance: RM 0.185, RM 0.20, RM 0.22, RM 0.245 areas
Titan Trading Notes For Friday [16/2/2024]:
$KLSE-KLCI closed slightly red around the 1528 points region with an overall positive market sentiment here and daily trading volume also rebounded back towards the 3.67 billion mark, which is a pretty good start.
Main stocks that showed strong buying momentum would be the likes of AGX, DAY3, DIALOG, INNATURE, IWCITY, LEFORM, MINETEC, MTEC, SCABLE, SCIB, SKPRES, SRIDGE, and WENTEL. All of which were able to sustain their rallies on the top volumes list.
$MINETEC / 7219 (MINETECH RESOURCES BERHAD) since breaking out from its RM 0.14+ main downtrend resistance, had been climbing up quite well towards the RM 0.17 regions today with good volume momentum and volume.
So far still looking pretty strong here and as long as able to hold above its RM 0.16+ immediate support levels, could breakout back towards the RM 0.20+ regions soon for an uptrend continuation pattern.
Will be monitoring MINETEC closely here for an entry opportunity.
$SCABLE / 5170 (SARAWAK CABLE BERHAD) since breaking out towards the RM 0.48 regions, had been retracing over the past 2 months here with RM 0.14+ as the main support levels on the hourly and daily charts.
Today, it was able to breakout from its RM 0.21+ main downtrend resistance levels with good volume and buying momentum here and as long as able to sustain, could continue breaking out towards the RM 0.26 - RM 0.30+ regions soon for an uptrend continuation pattern.
Will be monitoring SCABLE closely for an entry opportunity soon.
EPICON after testing its RM 0.40+ support levels over the past few days, was able to form a higher low region there and broke out back towards the RM 0.425+ regions today with good volume and buying momentum.
So far will be testing its RM 0.43+ main ascending triangle resistance here and if able to breakout from this region, could be rallying back up towards the RM 0.45 - RM 0.48+ regions soon for an uptrend continuation pattern.
OTHERSMinetech Resources Berhad ("Minetech" or "the Company") - Extension of Contract Works for Waste Removal, Ore Deliveries and Associated Works for Open Pit Mining in respect of Selinsing Gold Mine Project
Titan Weekend Chart Reviews
$MINETEC / 7219 (MINETECH RESOURCES BERHAD)
Had been retracing since breaking out towards the RM 0.245 regions here with RM 0.14+ as the main support levels now.
For now holding above this region quite well and could breakout back towards the RM 0.165 - RM 0.20+ regions soon.
If unable to hold, could retrace back towards the RM 0.12+ support.
Expecting a move next week.
Support: RM 0.14, RM 0.12 areas
Resistance: RM 0.165, RM 0.185, RM 0.20 areas
$MINETEC / 7219 (MINETECH RESOURCES BERHAD)
KUALA LUMPUR: Minetech Resources Bhd’s unit has renewed its waste removal, ore delivery, and associated works for the Selinsing gold mine project, worth RM230 million.
© New Straits Times Press (M) Bhd
PETALING JAYA: Minetech Resources Bhd has entered into an agreement with Able Return Sdn Bhd and Damar Consolidated Exploration Sdn Bhd to renew its Selinsing Gold Mine Project contract for a further 36 months, valued at RM230mil.
OTHERSMinetech Resources Berhad ("Minetech" or "the Company") - Extension of Contract Works for Waste Removal, Ore Deliveries and Associated Works for Open Pit Mining in respect of Selinsing Gold Mine Project