Financial Performance - Revenue for the year ended December 31, 2020, was RM 88,675,007, an increase of 29.8% compared to RM 68,327,729 in 2019[9] - The company reported a loss before taxation of RM 1,766,963 for 2020, an improvement from a loss of RM 2,209,758 in 2019[9] - The loss attributable to equity shareholders of the company for 2020 was RM 3,017,053, compared to a loss of RM 1,844,444 in 2019[9] - The Group achieved approximately RM88.7 million in revenue for FY2020, representing a 29.8% increase compared to FY2019's RM68.3 million, primarily driven by the export market[49] - The Group's gross profit decreased by approximately 35.1%, or RM5.7 million, compared to FY2019[50] - The cost of sales increased by approximately 49.9%, or RM26.0 million, from RM52.2 million in FY2019 to RM78.2 million in FY2020, leading to a reduced gross profit margin of 11.8% compared to 23.7% in FY2019[50] Assets and Liabilities - Total assets as of December 31, 2020, were RM 165,162,412, a slight decrease from RM 167,084,721 in 2019[10] - Total liabilities increased to RM 48,767,228 in 2020 from RM 46,839,641 in 2019, reflecting a rise of 4.1%[10] - Net assets decreased to RM 116,395,184 in 2020 from RM 120,245,080 in 2019, indicating a decline of 3.2%[10] Operational Developments - The Group commenced production of an ultra-high temperature liquid production facility in the first half of 2020 to meet growing domestic and export market demand[37] - The Group implemented cost-cutting measures, resulting in savings of approximately RM3.3 million in selling, distribution, and administrative expenses in FY2020[51] - The average cost of raw coconuts increased by approximately 49.5%, contributing to the rise in cost of sales[50] Sustainability and Environmental Practices - The company is committed to sustainable practices, utilizing renewable energy resources and recycling by-products[39] - The company is committed to environmental protection, quality control, supply chain management, and community investment as part of its sustainability values[139] - The company has established an Environmental Regulatory Compliance Monitoring Committee to assist in developing and monitoring environmental policies[144] - The company has established a systematic approach to manage environmental emissions and resources, focusing on energy conservation and low-carbon initiatives[175] Management and Governance - The company has a strong management team with diverse backgrounds in food technology, finance, and operations, enhancing its strategic capabilities[82] - The board includes independent directors who provide oversight and independent advice, ensuring corporate governance[83] - The company is committed to compliance and governance, as evidenced by the establishment of oversight committees[81] - The company has a strong governance structure with independent directors on key committees such as the Audit Committee and Remuneration Committee[97] Product Development and Market Position - S&P International Holding Limited's core business focuses on manufacturing and distributing coconut cream powder, low fat desiccated coconut, and coconut milk, which account for the majority of total revenue during the reporting period[114] - The company has introduced various brands, including "Santan," "Cosip," "Kerra," and "Rasa Enak," to meet diverse customer needs[126] - Coconut cream powder has become the best-selling product, widely used in Southeast Asian and Middle Eastern cuisines[133] - The company emphasizes its commitment to providing high-quality food and service, which is essential for sustainable growth and success[140] Compliance and Quality Control - The company holds multiple certifications related to quality management and food safety, including HACCP and ISO 9001:2015, enhancing customer confidence in its products[159] - During the reporting period, the company reported no non-compliance with applicable laws and regulations, including Malaysia's Food Hygiene Regulations 2009[160] - The company has established an in-house chemical and microbiological testing laboratory to ensure the quality of incoming materials, critical for maintaining high standards[158] Energy and Resource Management - Total energy consumption rose to 39,528.08 MWh in 2020, compared to 26,028.34 MWh in 2019, marking a 52.3% increase[182] - Total water consumption reached 145,079.00 m³ in 2020, an increase of 38.4% from 104,769.00 m³ in 2019[182] - The company treated all industrial effluent through its on-site treatment plant before discharge, ensuring compliance with environmental regulations[196] - The biomass boiler operation is a significant source of air and greenhouse gas emissions, with regular monitoring conducted to ensure compliance with environmental standards[190]

Financial Performance - Revenue for the six months ended June 30, 2020, was MYR 42,635,761, representing a 24.9% increase from MYR 34,133,885 in 2019[11] - The company reported an operating loss of MYR 7,320,983 for the first half of 2020, compared to a profit of MYR 1,738,438 in the same period of 2019, indicating a decline of over 100%[11] - The company incurred a net loss attributable to owners of the company of MYR 7,684,067 for the first half of 2020, compared to a profit of MYR 1,284,827 in 2019, reflecting a decline of over 100%[11] - The total comprehensive loss for the period was MYR (4,357,003) compared to a total comprehensive income of MYR 1,346,080 in the same period of 2019[17] - The group reported a net loss attributable to owners of the company of approximately 7.8 million Malaysian Ringgit in the first half of 2020, compared to a profit of approximately 1.3 million Malaysian Ringgit in the same period of 2019[106] Cash and Liquidity - Cash and cash equivalents increased by 18.6% to MYR 30,371,894 as of June 30, 2020, up from MYR 25,606,417 at the end of 2019[11] - The company’s current ratio decreased to 3.7 times in 2020 from 4.0 times in 2019, indicating a slight decline in liquidity[13] - Operating cash flow for the period was a net outflow of MYR 4,706,287, a significant decline from a net inflow of MYR 294,992 in the previous year[27] - As of June 30, 2020, the group's cash and cash equivalents amounted to approximately MYR 30.4 million, an increase of about MYR 4.8 million from MYR 25.6 million on December 31, 2019[117] Assets and Liabilities - Total assets decreased by 3.6% to MYR 115,888,077 as of June 30, 2020, compared to MYR 120,245,080 at the end of 2019[11] - Total assets as of June 30, 2020, amounted to MYR 170,457,706, an increase from MYR 167,084,721 as of December 31, 2019[20] - Total liabilities rose to MYR 54,569,629 from MYR 46,839,641, with non-current borrowings increasing to MYR 33,174,311 from MYR 28,300,928[22] - The company’s equity attributable to shareholders decreased to MYR 115,894,024 from MYR 120,248,895, reflecting the impact of the net loss[24] Revenue Breakdown - Revenue from coconut-related beverage products for the six months ended June 30, 2020, was MYR 41,179,752, representing an increase of 25.6% compared to MYR 32,798,037 in the same period of 2019[41] - Revenue from Southeast Asia increased to MYR 14,171,664 in 2020 from MYR 9,645,191 in 2019, reflecting a growth of 47.5%[46] - Revenue from the Middle East decreased slightly to MYR 8,697,000 in 2020 from MYR 9,382,530 in 2019, a decline of 7.3%[46] - Total revenue for the group for the six months ended June 30, 2020, was MYR 42,635,761, up from MYR 34,133,885 in 2019, marking a growth of 25%[41] Cost and Expenses - The group's cost of sales increased by approximately 63.1% or 14.9 million Malaysian Ringgit to about 38.5 million Malaysian Ringgit in the first half of 2020, primarily due to rising procurement costs of raw materials and increased operational expenses related to new facilities[94] - The gross profit margin decreased significantly from 31.0% in the first half of 2019 to 9.8% in the first half of 2020, with total gross profit declining by approximately 61.3% or 6.5 million Malaysian Ringgit[95] - Financial costs for the six months ended June 30, 2020, were MYR 585,505, up from MYR 268,373 in 2019, representing a rise of 118.5%[56] Operational Developments - The company plans to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[25] - The company launched new products, including coconut milk and coconut juice, in the first half of 2020, contributing positively to revenue growth[90] - The company plans to continue sales and distribution activities for new product lines in the second half of 2020[93] - The company’s R&D team is focused on innovation and expanding the product range[93] Shareholder Information - Major shareholders include TYJ and Yeow Geok Tiang, each holding 567,000,000 shares, representing 52.5% of the company[151] - Trinity and Goh Soo Cheng each hold 243,000,000 shares, accounting for 22.5% of the company[151] - As of June 30, 2020, the total issued shares of the company were 1,080,000,000[152] Corporate Governance - The audit committee reviewed the unaudited interim results for the first half of 2020 and agreed with the accounting principles adopted by the group[159] - The company has complied with all applicable code provisions of the corporate governance code during the first half of 2020[157] - There were no significant events requiring disclosure after June 30, 2020, up to the date of the interim report[160]

Financial Performance - For the year ended December 31, 2019, the company's revenue was RM 68,327,729, a decrease of 14% compared to RM 79,989,035 in 2018[5]. - The company reported a loss before taxation of RM 2,209,758 for 2019, compared to a profit of RM 8,904,163 in 2018[5]. - The Group's revenue for FY2019 was approximately RM68.3 million, a decrease of about 14.6% or RM11.7 million compared to RM80.0 million for FY2018[47]. - The Group's cost of sales decreased by approximately 3.7% or RM2.0 million from approximately RM54.2 million in FY2018 to approximately RM52.2 million in FY2019[48]. - Total gross profit for FY2019 decreased by approximately 37.4% or RM9.6 million compared to FY2018[48]. - The decrease in sales volume of coconut-related products was attributed to increased competition and lower coconut prices in 2019[42]. Assets and Liabilities - The total assets of the company as of December 31, 2019, were RM 167,084,721, an increase of 18% from RM 141,812,902 in 2018[5]. - Total liabilities increased significantly to RM 46,839,641 in 2019, up from RM 19,058,746 in 2018, representing a 146% increase[5]. - The net assets of the company decreased slightly to RM 120,245,080 in 2019 from RM 122,754,156 in 2018[5]. - The company attributed a loss of RM 1,844,444 to equity shareholders for the year ended December 31, 2019[5]. Market and Growth Strategy - The company aims to be the preferred global supplier of coconut food products, focusing on quality and nutritional attributes[1]. - The Group is focused on manufacturing and distributing coconut-based food products, with a growing demand for coconut milk and beverages, particularly in Asian countries[23][28]. - Despite the challenges, the Group is optimistic about the growth of coconut-based products, driven by increasing consumer trends towards vegan food and recognition of the nutritional benefits of coconut[25][29]. - The Group aims to enhance brand recognition through aggressive marketing strategies, including rebranding and appointing specialized distributors[32][37]. - Currently, the Group exports products to over 40 countries, with the export market anticipated to be a key source of revenue growth[33][37]. - The Group's strategy includes widening its range of coconut products and enhancing its marketing efforts to become the preferred global supplier[26][29]. Operational Challenges - The global economic environment remains challenging, influenced by the ongoing trade war and the COVID-19 pandemic, which has affected over 100 countries[24][28]. - The Group's operations faced challenges due to the COVID-19 pandemic and related government measures, impacting supply chain and customer ordering processes[40]. - The Group's factory operations continued during the Movement Control Order as it is involved in the food supply sector[43]. Management and Team Experience - Tang Koon Fook has over 20 years of experience in the food industry and has been responsible for overall management and financial management since the group's establishment[60]. - Lee Sieng Poon has over 35 years of experience in the food industry, focusing on sales, marketing, and factory operations[64]. - Yap Boon Teong has over 25 years of experience in the food industry, primarily responsible for implementing new projects and providing technical support[66]. - Wong Yuen Lee has over 15 years of experience in the food industry, overseeing human resources and compliance matters[72]. - The company has a strong management team with extensive experience in various aspects of the food industry, ensuring effective operational oversight[75]. Sustainability and Environmental Practices - The company is committed to sustainable practices, utilizing renewable energy resources and implementing recycling measures[34][36]. - The company emphasizes sustainability as a core value, integrating it into daily operations and committing to environmental protection, community investment, and quality control[141][143]. - The Environmental, Social and Governance (ESG) report outlines sustainability approaches and ESG performances for the period from January 1, 2019, to December 31, 2019[118]. - The company adheres to the ESG Reporting Guide set out by the Hong Kong Exchanges and Clearing Limited to disclose sustainability issues during the reporting period[120]. - The Group has implemented a sustainability policy enforced by the Environmental Performance Monitoring Committee[155]. Product Quality and Innovation - The company focuses on manufacturing and distributing coconut cream powder, low fat desiccated coconut, coconut milk, and related products, which account for the majority of total revenue during the reporting period[119]. - The Group has established an in-house chemical and microbiological testing laboratory to ensure high food quality and safety, critical for customer satisfaction[164]. - The production system is fully automated and centrally monitored, enabling consistent delivery of high-quality products[164]. - The company has invested in technological advancements and systematic manufacturing processes to enhance product quality and freshness[133]. Compliance and Risk Management - The Board of Directors oversees risk management, including ESG-related risks, ensuring that identified risks are prioritized and mitigation actions are implemented[145][146]. - The company is actively involved in compliance and regulatory matters to ensure operational integrity[72]. - During the reporting period, there were no known instances of non-compliance with applicable laws and regulations, including Malaysia's Food Hygiene Regulations 2009[165]. Environmental Impact - In 2019, total greenhouse gas emissions amounted to 9,915.06 tonnes of CO2e, an increase from 8,838.95 tonnes in 2018[188]. - Total energy consumption reached 26,028.34 MWh in 2019, compared to 22,261.27 MWh in 2018, indicating a significant rise in energy usage[188]. - The intensity of greenhouse gas emissions per tonne of production unit rose to 2.33 tonnes of CO2e in 2019, compared to 1.93 tonnes in 2018[188]. - Non-hazardous waste totaled 653.60 tonnes in 2019, an increase from 523.99 tonnes in 2018[191].

Financial Performance - Revenue for the six months ended June 30, 2019, was MYR 34,133,885, a decrease of 16.9% compared to MYR 41,051,640 in 2018[12] - Operating profit for the same period was MYR 1,738,438, down 62.6% from MYR 4,646,597 in 2018[12] - Net profit attributable to owners of the company was MYR 1,284,827, a decline of 63.0% from MYR 3,476,469 in the previous year[12] - Total comprehensive income for the period was MYR 1,346,080, down from MYR 3,158,358 in 2018[20] - Basic and diluted earnings per share were 0.12 sen, compared to 0.32 sen in the previous year[20] - The company reported a profit of MYR 1,003,594 for the six months ended June 30, 2019, compared to MYR 6,295,729 in the same period of 2018, indicating a significant decrease in profitability[24] - The group recorded a net profit attributable to owners of the company of approximately 1.3 million Malaysian Ringgit in the first half of 2019, down from approximately 3.5 million Malaysian Ringgit in the first half of 2018[104] Cash Flow and Liquidity - Cash and cash equivalents decreased by 37.9% to MYR 28,602,767 from MYR 46,089,253 as of December 31, 2018[12] - The company reported a net cash flow from operating activities of MYR 294,992 for the six months ended June 30, 2019, down from MYR 3,812,174 in the same period of 2018[26] - The company incurred a loss of MYR 37,950,542 in cash flow from investing activities for the six months ended June 30, 2019, compared to MYR 8,771,590 in the same period of 2018[27] - As of June 30, 2019, the group's cash and cash equivalents were approximately 28.6 million Malaysian Ringgit, a decrease of about 17.4 million Malaysian Ringgit from approximately 46.0 million Malaysian Ringgit as of December 31, 2018[109] - The total cash outflow for the six months ended June 30, 2019, is MYR 61,795[73] Assets and Liabilities - Total assets net worth increased by 1.1% to MYR 124,082,749 compared to MYR 122,754,156 at the end of 2018[12] - Total assets increased to MYR 161,980,539 in June 2019, up from MYR 141,812,902 in December 2018, representing a growth of approximately 14.5%[21] - Non-current assets rose significantly to MYR 87,090,932 in June 2019, compared to MYR 49,839,306 in December 2018, marking an increase of about 74.7%[21] - Current assets decreased to MYR 74,889,607 in June 2019 from MYR 91,973,596 in December 2018, a decline of approximately 18.6%[21] - Total liabilities surged to MYR 37,897,790 in June 2019, up from MYR 19,058,746 in December 2018, indicating an increase of around 98.5%[22] - The company’s non-current liabilities increased to MYR 25,447,230 in June 2019, up from MYR 4,393,976 in December 2018, reflecting a rise of approximately 480.5%[22] - The debt-to-equity ratio as of June 30, 2019, was approximately 0.2 times, up from 0.03 times as of December 31, 2018[113] Revenue Breakdown - Revenue from coconut-related products for the six months ended June 30, 2019, was MYR 32,798,037, a decrease of 17.5% compared to MYR 39,823,713 in the same period of 2018[41] - The group's revenue for the first half of 2019 was approximately 34.1 million Malaysian Ringgit, a decrease of about 17.0% or 7.0 million Malaysian Ringgit compared to approximately 41.1 million Malaysian Ringgit in the first half of 2018[94] - Revenue from coconut-related products in the first half of 2019 was 32.8 million Malaysian Ringgit, down by approximately 7.0 million Malaysian Ringgit from about 39.8 million Malaysian Ringgit in the first half of 2018[95] - The group’s total revenue from Southeast Asia was MYR 9,645,191, a decrease of 6.4% from MYR 10,308,809 in 2018[44] - The group reported a pre-tax profit of MYR 268,373 for the six months ended June 30, 2019, compared to MYR 145,532 in 2018, indicating a significant increase[46] Expenses and Costs - Personnel expenses, including director remuneration, increased to MYR 6,463,268 in 2019 from MYR 5,649,389 in 2018, reflecting a rise of 14.4%[50] - The income tax expense for the six months ended June 30, 2019, was MYR 546,988, a decrease of 60% compared to MYR 1,371,465 in 2018[51] - Administrative expenses for the first half of 2019 were approximately 6.7 million Malaysian Ringgit, an increase of about 1.7 million Malaysian Ringgit compared to approximately 5.0 million Malaysian Ringgit in the first half of 2018[99] - The total depreciation expense for the period was MYR 1,182,717, compared to MYR 2,172,761 in the previous period, indicating a decrease of approximately 45.6%[66] Capital Expenditures and Investments - Capital expenditures for the first half of 2019 were approximately 38.0 million Malaysian Ringgit, significantly higher than about 8.8 million Malaysian Ringgit in the first half of 2018, aligning with the group's expansion plans[112] - The company has approved but not contracted capital commitments for property, plant, and equipment amounting to MYR 34,627,850 as of June 30, 2019[79] - The company has allocated MYR 4.7 million for the restoration of production facilities located in Balai Raga, Malaysia, which remains unutilized[123] - The company has invested MYR 1.2 million in new equipment to enhance its R&D capabilities, with MYR 0.1 million already utilized[123] Corporate Governance and Compliance - The company has adopted and complied with all applicable provisions of the Corporate Governance Code as set out in Appendix 14 of the Listing Rules during the first half of 2019[135] - The Audit Committee has reviewed the unaudited condensed consolidated interim results for the first half of 2019 and agreed with the accounting principles and practices adopted by the group[138] Future Outlook and Developments - The group expects the global coconut product market to grow at a compound annual growth rate of 17.8% from 2019 to 2025, indicating optimistic future prospects despite increasing competition[105] - The company has received the certificate of completion for the new factory building in Perak and is in the process of installing new production lines, expected to be completed in the second half of 2019[93] - The company initiated multiple channel and distribution network development initiatives in preparation for the commercial launch of new products from the new factory, expected to begin in early 2020[93] Shareholder Information - The company has a significant shareholder, Tang Koon Fook, holding 567 million shares, representing 52.5% of the company's equity[130] - Lee Sieng Poon, another major shareholder, holds 243 million shares, accounting for 22.5% of the company's equity[130] Employee Information - The company has 307 employees as of June 30, 2019, compared to 273 employees as of June 30, 2018, indicating a growth in workforce[117]

S&P International Holding Limited 椰豐集團有限公司 （於開曼群島註冊成立的有限公司） Stock Code 股份代號：1695 （Incorporated in the Cayman Islands with limited liability） REPORT ANNUAL 年報 2018 HEADQUARTERS & PRINCIPAL PLACE OF BUSINESS No. 27-3, Jalan PJU 5/13, Dataran Sunway Kota Damansara 47810 Petaling Jaya, Selangor Darul Ehsan Malaysia 電話 Tel : 603-6157 2226 圖文傳真 Fax : 603-6157 5226 網址 Website : www.spfood.com 電郵 Email : info@spfood.com S&P International Holding Limited 椰豐集團有限公司 2018 & Vision Mission Our 使命與願景 我們的 S&P Group is pass ...