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Quarterly Report For The Period Ended 28 February 2018

Financials Archive

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Income Statements


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 RM43.336 million was lower by RM5.043 million, a drop of 10% as compared to the revenue in last year corresponding period of RM48.379 million. The drop in revenue was mainly due to the drop in market demands from Thailand and local market, offset with increase in demand from Myanmar.

The Group recorded a lower profit before tax of RM11.399 million for the period under review, a drop of RM7.441 million (39%) from those of RM18.840 million in the last year corresponding period. This was in line with the drop in revenue and drop in foreign exchange gain, which was in line with the unfavourable fluctuation of USD rate.

The Group's other comprehensive income for the period under review was RM1.049 million, mainly consist of the foreign currency translations for overseas subsidiaries.

Consolidated Statement of Financial Position

The Group's total assets as at 28 February 2018 was RM616.558 million, a drop of RM33.249 million as compared to last financial year ended 30 November 2017 of RM621.267 million. The drop was mainly due to drop in receivables balances which were in line with drop in revenues, offset by increase in cash and cash equivalents and increase of investment in an associate. During the period, the Group disposed the other investments with gain on disposal of RM0.621 million.

The Group's total liabilities as at 28 February 2018 was RM39.741 million, dropped by RM0.976million as compared to last financial year ended 30 November 2017 of RM40.717 million. This was mainly due to drop in payables balances and current tax liabilities which were in line with the drop in revenues and profit, offset by the dividend payable of RM13.800 million.

The Group's total equity was registered at RM576.817 million, a drop of RM3.733 million as compared to last financial year ended 30 November 2017 of RM580.550 million.

The Group's net asset per share has dropped from RM1.26 of last financial year ended 30 November 2017 to RM1.25.

Consolidated Statement of Cash flow

The Group's cash and cash equivalents as at 28 February 2018 was RM140.395 million, recorded a net increase of RM15.884 million from RM124.644 million of cash and cash equivalents as at 30 November 2017.

The net cash from the operating activities was RM 13.155 million. The net cash from the investing activities was RM2.689 million, mainly from the proceeds on disposal of other investments of RM1.977 million and the interest income received of RM0.912 million, offset by capital expenditure of RM0.174 million. There was no dividend paid during the period.

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 progressive decline of the USD against Ringgit Malaysia has adversely impacted the Group's profit margin due to all the export revenue are transacted in USD. 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 the 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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