KUALA LUMPUR, 29 JANUARY 2021 - Ho Wah Genting Berhad ("HWGB" or the "Company") (Bursa Stock Code: 9601) ) today announced its wholly-owned subsidiary HWG Capital Sdn Bhd ("HWG Capital") formerly known as HWG Minerals Sdn. Bhd., will lead HWGB investment projects moving forward.
HWGB first investment came in August 2020 via another of the Company wholly-owned subsidiary HWGB Biotech Sdn Bhd ("HWGB Biotech"), where it invested US$1 million into EBI for the research and development ("R&D") of vaccines, immunological treatment and diagnostic product development in relation to the COVID-19 virus. Thus, HWG Capital is being set up to facilitate in identifying potential investment projects with great prospect that can spur the Company growth to a higher level.
The Company today also announced an appointment of Mr William Law Phooi Wong as the Financial Advisor to spearhead HWG Capital investment projects where he will be tasked to lead the company to greater financial success. His appointment will not only facilitate the commencement of HWG Capital investment project on EBI research and vaccines development project but also showed HWGB intention in moving forward for more investment opportunities and securing future prospects.
Chief Executive Officer of HWGB, Dato' Aaron Lim expressed: "We are excited to have William on board with us in HWG Capital. He has worked with numerous public listed companies and eventually led his portfolio to a stunning financial success by leveraging his skills to great effect. With him at the helm of investment division, we are optimistic that we can secure greater investment opportunities to further our company expansion".
William has 18 years of experience in leading company operating in Asia, Europe and even Latin America markets. He has vast experience in project management and project financing as he has worked with many public listed companies and successfully led the portfolio to achieve financial success by leveraging his domestic enterprise experience, mergers acquisition skills, and project financing expertise in the Asia Markets. He is recognized as an accomplished Business Development Executive with an impressive track record of forging strategic partnerships, completing M&A transactions, and structuring large scale restructuring projects.
Ho Wah Genting Berhad ("HWGB" or the "Company") is principally engaged in investment holdings and the provision of management services to its subsidiaries. The Company had on 30 June 2020 diversified its existing businesses to include healthcare-related industry which mainly involved in Health Supplement, Biotechnology and Health Technology. In addition, the Company and its subsidiaries ("HWGB Group" or the "Group") are also engaging in the businesses of Investment holdings; manufacturing of wires and cables and moulded power supply cord sets and cable assemblies for electrical and electronic devices and equipment; Trading of wires and cables; and travel agent and tour related services.