KUALA LUMPUR, 5 MARCH 2021 – Ho Wah Genting Berhad (“HWGB” or the “Company”) (Bursa Stock Code: 9601) announced its establishment of HWGB Blockchain & Digitaltech Sdn Bhd (formerly known as 3H Healthtech AI Sdn Bhd) (“HWGB Blockchain & Digitaltech”), for the purpose of HWGB business expansion plan. The establishment of HWGB Blockchain & Digitaltech is to facilitate the Company’s venture into Internet of Things (IoT) and Blockchain.

Blockchain, sometimes referred to as Distributed Ledger Technology (DLT), defined as blocks joined together by using cryptographic secure hash function, which forms a chain that is time-stamped. It makes the history of any digital asset unalterable and transparent through the use of decentralization and cryptographic hashing.

HWGB Blockchain & Digitaltech was incorporated on 17 February 2020 under the name of 3H Healthtech AI Sdn Bhd and changed to its current name on 4 March 2021.  The intended principal activities involved the provision of services for the system for decentralized, distributed ledger technology that records the provenance of a digital asset and services for digital technology related.

IT and Digital Director of HWGB Blockchain & Digitaltech, Mr Bernard Lim Wee Kiat said: “We are excited to announce the establishment of HWGB Blockchain & Digitaltech to work towards expansion into digital technology, as we have identified that digital technology is the future of business innovation trends and practices. We firmly believe that venturing into digital technology is the right direction as it holds an untapped potential that could potentially spur HWGB’s growth”.

Mr Bernard Lim Wee Kiat is the Executive Director of HWGB and the former Director in HWG Fintech Berhad. Prior to joining HWGB, he has over 9 years of experience in the Information Technology sector with his last position as System Engineer. He holds an Advanced Diploma in Information Technology from Royal Melbourne Institute of Technology, Victoria, Melbourne in 2001. He is the holder of a Bachelor of Science (Honours) in Computing and Information Systems from the University of Nottingham. In 2005, he obtained a Postgraduate Certificate in Network Computing from the University of Monash in Melbourne.

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.