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Quarterly Report For The Period Ended 31 August 2018

Financials Archive

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Income Statements

AS AT 31 AUGUST 2018

Balance Sheet

Review of Group's Performance

Financial review for current quarter and financial year to date:

Income Statements

Consolidated Statement of Profit or Loss and Other Comprehensive Income

The Group's revenue for the period under review of RM138.376 million was lower by RM8.301 million, a drop of 6% as compared to the revenue in last year corresponding period of RM146.677 million. The drop in revenue was mainly due to the drop in market demands from Thailand and local market, offset with increase in market demand from Myanmar.

The Group recorded a lower profit before tax of RM48.905 million for the period under review, a drop of RM3.218 million (6%) from those of RM52.123 million in the last year corresponding period. This was in line with the drop in revenue.

The Group's other comprehensive expense for the period under review was RM0.750 million, mainly consist of the foreign currency translations for overseas subsidiaries.

Consolidated Statement of Financial Position

The Group's total assets as at 31 August 2018 was RM627.235 million, an increase of RM5.968 million as compared to last financial year ended 30 November 2017 of RM621.267 million. The increase was mainly contributed by the net increase in cash and cash equivalents of RM33.596 million offset by the drop in receivables balance which was in line with the drop in revenue, coupled with the drop in investment balance in associate as this balance was reduced by the dividend received from associate.

The Group's total liabilities as at 31 August 2018 was RM41.607 million, a slight increase of RM0.890 million as compared to last financial year ended 30 November 2017 of RM40.717 million. This was mainly due to dividend payable of RM 9.2 million as at 31 August 2018, offset by the drop in tax liability resulting from settlement of tax.

The Group's total equity registered at RM585.628 million, an increase of RM5.078 million as compared to last financial year ended 30 November 2017 of RM580.550 million.

The Group's net asset per share was maintained at RM1.27.

Consolidated Statement of Cash flow

The Group's cash and cash equivalents as at 31 August 2018 was RM158.148 million, recorded a net increase of RM33.596 million from RM124.644 million of cash and cash equivalents as at 30 November 2017.

The net cash from the operating activities was RM 52.650 million, including the net dividend received from associate of RM19.737 million.

The net cash from the investing activities was RM3.946 million, mainly from the proceeds on disposal of other investments of RM1.977 million and the interest income received of RM3.094 million, offset by purchase of capital expenditure of RM1.099 million.

The dividend paid during the period amounted to RM 23 million.

Current Year Prospects

The Group is expecting a more challenging business environment for year 2018 that is influenced by various factors such as the weak consumer sentiment in the regional markets and the fluctuating currency. The Group's performance has been affected by the strengthening or weakening of Ringgit Malaysia against USD as all the export revenue are transacted in USD. With the notification order made by the Ministry of Commerce Myanmar ("MOC") on 18 September 2018 prohibiting the business of multi-level marketing ("MLM") in Myanmar, export sales to Myanmar may be affected in the fourth quarter 2018. Nevertheless, efforts have been stepped up by the master agent to engage with MOC in exploring alternatives. Barring any unforeseen circumstances, export sales to Myanmar has no material effect on the Group's overall turnover for the financial year ending 30 November 2018. Generally, the market will continue to remain competitive.

Despite a challenging environment, the Group will continue to uphold its healthy business practices to strive for the business sustainability and to safeguard the Group's profitability. The Group will take steps to ensure that quantitative targets are well supported, concentrating both on brand building and network strengthening strategy in order to maintain its market positions in both local and overseas regions. The Group will use social media channel more extensively and also prompt more visibility of its brand through numerous channels.

The Group will continue with its effort to further improve the operational efficiency and productivity for its products to achieve satisfactory financial performance in year 2018.

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