New Blood joined the powerful SIAB Holdings Co., Ltd. to jointly launch long-term development

New Blood Joins Greater China SIAB Holdings Company's New Vision
Published: Monday, July 15, 2024 at 5:56 PM

New blood adds strong strength

Long-term development jointly initiated by SIAB Holdings

The parking lot of the new team dormitory building is ready to go. We are looking forward to a big project in the field of beautiful architecture

KUALA LUMPUR, July 15, 2024 — Well-known Malaysian builder Siab Holdings Berhad (Siab Holdings Berhad, “Siab” or “the company” for short) announced the appointment of Shengli from Taghill Projects Private Limited (“Taghill”) as the new founder, Mr. Huang Yiming, the founder and managing director of Taghill, and Mr. Zhou Yifeng, the deputy managing director, took office on July 2, 2024 and July 15, 2024, respectively. The new board of directors symbolizes a new important milestone in Siab's corporate development history.

Title (left)
Mr. Vincent Chu Yee Hong, Executive Director of Siab Holdings Berhad; Mr. Huang Yiming, Executive Director of Siab Holdings Berhad; Mr. Ng Wai Hoe Wu Weihao, Managing Director of Siab Holdings Berhad Group; Mr. Yap Kek Siung, Executive Director of Taghill

Mr. Huang Yiming, Mr. Zhou Yifeng, and the founder of Taghill's renewable energy will contribute their rich experience and good experience in the construction industry to Siab. They steer and manage Taghill and Bimtech Solutions Private Limited (“Bimtech”), in which Taghill holds 60% of its shares. With their support, Taghill has carried out a number of famous construction projects, including the Kuala Lumpur Skyline, Melaka's The Cove, and D'Velada in Bukit Jalil, Syracuse.

Bimtech specializes in building information modeling (BIM). This technology helps digitize the physics and functionality of buildings in the field of construction, which means it can share building information and resources, provide a reliable basis for building life cycle from inception, and help make authentication decisions. Bimtech has participated in several well-known projects, such as Avenue K Kyliez, Penang Noordin Suite, EXSIM (EXSIM) Kingwoodz in Bukit Jalil, KEB Group's Cove Melaka, and Mega City Development's 88 Avenue in Kota Kinabalu, demonstrating its ability to provide high-quality, advanced construction solutions.

Mr. Wu Hao, Managing Director of Siab Group, said, “We have provided rich experience and forward-looking leadership in the construction sector, all valuable assets for Siab as it enters the next stage of development. Mr. Huang Yiming, Mr. Zhou Yifeng, and Mr. Ye Guoxiong have a track record of success in managing large-scale projects. I believe their strategic vision can strengthen the strength of our leadership team. With the addition of Taghill and Bimtech, we promise to provide you with excellent service, expand our market influence, and explore new opportunities for long-term growth. With our dedicated spirit and hard work, we firmly believe that Siab will continue to create brilliant results and continue to create considerable value for our interests. While we value growth in the construction sector, we are also committed to making a meaningful contribution to Malaysia's infrastructure development.”

Mr. Wong Kai-ming of Siab is looking forward to his new role. He said, “I am very happy to be joining Siab at this critical time. Taghill's technology combined with Siab's powerful platform will create unique opportunities that are bound to drive significant growth for the company. I am very happy to work closely with Mr. Wu Hao and the Siab team to effectively improve our project delivery capacity and expand our credit. I am convinced that in the near future, we will all work together to achieve remarkable results.”

Mr. Ye Guoxiong, founder of Siab, said in his speech: “We are very much looking forward to becoming a subsidiary of the Siab Holding Family. Through collaboration with the board of directors, we will grow together and take the company to new heights. In terms of BIM technology, BIMtech supports our ordering innovation and our solutions to ensure project success and customer satisfaction. The well-known projects we have participated in fully demonstrate the strength of our group and the pursuit of excellent quality. We're really looking forward to building for Siab and helping the company save and prosper in the construction industry.”

In the “Malaysia Budget 2024”, the government allocated RM90 billion in development expenses to promote the awareness of various industries, which is beneficial to further strengthen Siab's development prospects. In the first quarter of 2024, the Malaysian real estate market was active, completing more than 0.1 million4297 transactions. The transaction value increased by 34.3% compared to last year.

As a wholly-owned subsidiary of Siab, Taghill also continues to include a large number of projects, further strengthening the company's market position. On July 3, 2024, the company announced on the Malaysia Stock Exchange's official website that Taghill was awarded a contract worth RM0.1 billion76.2 million from Exsim Nordin Bank, and the total number of orders it holds was further increased by RM2 billion60 million. This is a strong subsidiary, and Siab's positive future prospects.

Looking ahead, Siab and its subsidiary Bimtech maintain an optimistic outlook for the Malaysian construction industry. The company promised to continue to strictly abide by good corporate governance standards and make every effort to actively explore new projects to ensure that the business progresses as usual. The government's emphasis on development spending and a vibrant real estate market have also laid the fourth foundation for the company's continued growth. Both have strong orders, including many important projects, and with the efforts of the strategic leadership team, Siab is now poised to achieve its growth goals and drive long-term value production.