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Quarterly Report For The Financial Period Ended 31 March 2018

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Unaudited Condensed Consolidated Statement Of Comprehensive Income
For The 1st Quarter Ended 31 March 2018

Comprehensive Income

Unaudited Condensed Consolidated Statement Of Financial Position
As At 31 March 2018

Financial Position

Review of Performance

review performance

Continuing Operations

Loss after tax of RM0.96 million was recorded in the current quarter as compared to preceding financial year corresponding quarter's loss after tax of RM0.61 million.

The increase in loss after tax is mainly due to withholding tax of RM0.55 million recognised on dividends received from the PRC Subsidiary.

Discontinued Operations

For the quarter under review, the Group's revenue increased by 11% to RM12.82 million from RM11.56 million in the preceding financial year corresponding quarter.

The changes in revenue as compared to preceding financial year corresponding quarter were from:-

  1. Laser/Die-cut segment increased by RM0.91 million mainly due to increases in orders from new and existing customers;
  2. Fabrication of Plastic Parts segment increased by RM0.64 million mainly due to increases in orders from new and existing customers;
  3. Industrial Labels segment decreased by RM0.37 million mainly due to decreases in orders from new and existing customers; and
  4. Revenue from Trading of Non-core Products segment increased slightly by RM0.09 million.

Profit after tax of RM0.54 million was recorded in the current quarter as compared to preceding financial year corresponding quarter's profit after tax of RM1.50 million.

The lower profit after tax was mainly due to unfavorable foreign exchange losses of RM0.71 million recorded and higher operating expenses incurred.

Comparison to the Results of the preceding quarter

review performance

Continuing Operations

The quarter under review observed a loss after tax of RM0.96 million as compared to loss after tax of RM1.77 million in the preceding quarter. The lower loss after tax was mainly due to lower withholding tax of RM0.55 million recognised on dividends received from the PRC Subsidiary, lower foreign exchange losses of RM0.01 million recorded, lower staff costs and absence of i mpairment loss on other investment.

Discontinued Operations

The Group's revenue decreased by RM7.07 million to RM12.82 million during the current quarter as compared to the revenue of RM19.89 million recorded in the immediate preceding quarter mainly due to People's Republic of China observed a long festive celebration in first quarter of Year 2018 and lower orders from the existing customers in all of the major business segments.

The quarter under review observed a profit after tax of RM0.54 million as compared to profit after tax of RM2.15 million in the preceding quarter. The lower profit after was mainly due to decreased orders from existing customers and unfavorable foreign exchange losses of RM0.71 million recorded.

Prospects

The sales from all segments except for Industrial Labels segment had improved in period ended 31 March 2018 as compared to the previous year corresponding period. With the existing well-diversified customer base and vast variety of products and services, the sustainability of the Group is ensured.

The Group's entire business operations are the subject of the Proposed Disposal. The Group is anticipating increasing challenging economic conditions, stricter government policies and increased competitions from our domestic PRC competitors. In this regard, the Board is anticipating a challenging year ahead.