Financial Performance - The group reported revenue of 78,867 thousand MYR for the six months ended June 30, 2021, representing a 77.3% increase from 44,433 thousand MYR in the same period of 2020[3] - Gross profit for the same period was 34,714 thousand MYR, up 157.5% from 13,510 thousand MYR year-on-year[3] - The net profit for the period was 23,385 thousand MYR, compared to 1,964 thousand MYR in the previous year, marking a significant increase of 1,087.5%[5] - Basic and diluted earnings per share increased to 2.87 cents from 0.35 cents, reflecting strong profitability growth[5] - Total comprehensive income for the period was 26,006 thousand MYR, compared to 4,194 thousand MYR in the same period last year, an increase of 520.5%[5] - Operating profit for the same period was 25,068 thousand MYR, compared to 7,891 thousand MYR in 2020, indicating a substantial increase of 216.5%[34] - The company reported a net profit of 23,385 thousand MYR for the six months ended June 30, 2021, compared to a profit of 7,225 thousand MYR in 2020, reflecting an increase of 224.5%[39] - Profit for the period was MYR 23.4 million, a significant increase of MYR 21.4 million compared to MYR 2.0 million in the same period of 2020[104] Assets and Liabilities - Non-current assets as of June 30, 2021, amounted to 47,378 thousand MYR, a decrease from 50,614 thousand MYR as of December 31, 2020[7] - Current assets increased to 101,978 thousand MYR from 122,460 thousand MYR at the end of the previous year[7] - The total equity of the company increased to 114,364 thousand MYR from 95,650 thousand MYR, indicating a strong financial position[10] - Trade receivables amounted to 22,867 thousand MYR, with a provision for impairment losses of 283 thousand MYR, resulting in net trade receivables of 22,584 thousand MYR[65] - Total trade and other payables were reported at 16,566 thousand MYR, a decrease from 42,360 thousand MYR as of December 31, 2020[67] - The company’s bank borrowings decreased to 9,463 thousand MYR as of June 30, 2021, down from 11,026 thousand MYR at the end of 2020[71] - The group's net current assets were approximately MYR 80.4 million as of June 30, 2021, up from MYR 69.5 million as of December 31, 2020[105] Cash Flow - The net cash generated from operating activities for the six months ended June 30, 2021, was RM 5,645,000, compared to RM 3,794,000 for the same period in 2020, representing an increase of approximately 49%[19] - The net cash used in investing activities for the six months ended June 30, 2021, was RM (2,828,000), a decrease from RM 1,553,000 in 2020, indicating a shift towards cash outflow[19] - The net cash used in financing activities for the six months ended June 30, 2021, was RM (3,282,000), compared to RM (2,084,000) in 2020, reflecting an increase in cash outflow[19] - The cash and cash equivalents at the end of the period were RM 19,533,000, compared to RM 18,789,000 at the end of the same period in 2020, showing a slight increase[19] - The cash and bank balances stood at 20,029 thousand MYR, slightly up from 19,877 thousand MYR at the end of 2020[7] Market and Growth Strategy - The company plans to continue expanding its market presence and investing in new product development to sustain growth[3] - The company has plans for market expansion and new product development, focusing on enhancing its manufacturing capabilities and retail offerings[24] - The company plans to continue expanding its market presence in the Asia-Pacific region, leveraging the significant revenue growth observed[38] - The group aims to increase its market share in the elastic textile and webbing industry while enhancing its competitive advantages[130] Investments and Acquisitions - The company invested 3.4 million MYR in property, plant, and equipment during the period, a significant increase from 0.2 million MYR in the same period of 2020[59] - The company plans to allocate approximately HKD 13.5 million (equivalent to about MYR 7.3 million) for the acquisition of West Cow and provide a loan of up to HKD 5.0 million (approximately MYR 2.8 million) to West Cow[140] - The company has completed the acquisition of West Cow on October 15, 2020, and on March 23, 2021, the board approved the sale of Rich Day Global Limited for a total consideration of HKD 8.5 million (approximately MYR 4.5 million)[144] Corporate Governance and Compliance - The company emphasizes the importance of good corporate governance practices to ensure accountability and protect shareholder interests[152] - The company has adhered to the corporate governance code during the reporting period, ensuring compliance with relevant regulations[153] - The independent non-executive directors confirmed no breaches of the non-competition agreement by the controlling shareholders during the reporting period[161] - The audit committee has reviewed the unaudited consolidated results for the period and found them compliant with applicable accounting standards and regulations[186] - The company has established an audit committee to oversee financial reporting and internal controls, consisting of three independent non-executive directors[184] Risks and Challenges - The company faces challenges due to the resurgence of COVID-19, trade wars, currency fluctuations, and increased regional competition, impacting its operational environment[145] - The group faces foreign exchange risk primarily from USD revenues linked to international companies, with potential impacts on profitability due to currency fluctuations[123] - The company has established a risk management committee to oversee compliance with international sanctions and assess potential risks associated with business activities in sanctioned countries[148] - The company has not engaged in any transactions with sanctioned countries or individuals during the reporting period[148] Employee and Management - Employee costs for the period were approximately MYR 14.4 million, an increase from approximately MYR 12.9 million in 2020[120] - The group employed 536 employees as of June 30, 2021, a slight decrease from 544 employees in 2020[120] - The total remuneration for key management personnel was 1,661 thousand MYR for the six months ended June 30, 2021, compared to 1,569 thousand MYR in the same period of 2020[78]

Financial Performance - The group reported revenue of 49,315 thousand MYR for the three months ended March 31, 2021, representing a 93.8% increase from 25,464 thousand MYR in the same period of 2020[5] - Gross profit for the same period was 26,289 thousand MYR, up from 7,725 thousand MYR, indicating a significant improvement in profitability[5] - The net profit for the period was 9,435 thousand MYR, compared to 2,693 thousand MYR in the previous year, reflecting a growth of 250.5%[6] - Operating profit for the group was 10,528 thousand MYR, compared to 3,760 thousand MYR in the previous year, reflecting an increase of 179.5%[18] - The total comprehensive income for the period was 4,178 thousand MYR, slightly down from 4,736 thousand MYR in the previous year[6] - Basic and diluted earnings per share were 0.38 sen, compared to 0.48 sen in the same period last year[6] - The company's revenue for the first quarter of 2021 was approximately 49.3 million MYR, an increase of 23.8 million MYR or 93.3% compared to the same period in 2020[50] - The group's gross profit was approximately 26.3 million MYR, an increase of 18.6 million MYR compared to 7.7 million MYR in the same period of 2020, resulting in a gross margin improvement from 30.2% to 53.3%[53] - The net profit for the period was 9.4 million MYR, an increase of approximately 6.7 million MYR compared to 2.7 million MYR in the same period of 2020[58] Revenue Breakdown - The production segment generated revenue of 32,626 thousand MYR, while the retail segment contributed 642 thousand MYR, indicating a strong performance in manufacturing[18] - Revenue from elastic textiles was 8,239 thousand MYR, showing an increase from 7,327 thousand MYR year-over-year[29] - Revenue from webbing products rose to 15,211 thousand MYR, up from 9,767 thousand MYR, indicating a growth of 55.5%[29] - Revenue from the production segment was about 32.6 million MYR, an increase of approximately 8.4 million MYR or 34.7% year-on-year[43] - The revenue from the ribbon segment was about 15.2 million MYR, an increase of 5.4 million MYR or 55.1% year-on-year[46] - Other products generated revenue of approximately 9.2 million MYR, an increase of 2.1 million MYR or 29.6% compared to the same period in 2020[47] Expenses and Losses - The company incurred a loss of 7,479 thousand MYR from the sale of a subsidiary during the period[6] - The company incurred a loss of 7,292 thousand MYR attributed to non-controlling interests during the quarter[18] - The company reported a net loss of 4,468 thousand MYR in other income/expenses for the first quarter of 2021, compared to a net gain of 3,594 thousand MYR in the same period of 2020[30] - The total financing costs for the first quarter of 2021 were 475 thousand MYR, a decrease from 523 thousand MYR in the same period of 2020[31] - Administrative expenses rose by approximately 2.2 million MYR or 42.3%, totaling 7.4 million MYR, primarily due to expenses related to the acquired securities brokerage business[57] Market and Strategic Initiatives - The company has plans for market expansion and new product development, although specific details were not disclosed in the earnings call[4] - The group continues to focus on enhancing its operational efficiency and exploring strategic partnerships for growth[4] - The company is continuously reviewing supply and demand conditions and cost-reduction measures to ensure business sustainability amid ongoing global challenges[62] - The management has established a risk management committee to monitor and assess potential international sanction risks, ensuring compliance with relevant regulations[66] - The company believes it is well-positioned to adapt to the new normal in the operating environment[63] Shareholder and Governance Information - The major shareholder, PRG Holdings, holds a beneficial interest of 54.19% in the company, with 303,468,000 shares as of March 31, 2021[85] - The company has established an audit committee to oversee financial reporting and risk management, consisting of three independent non-executive directors[92] - The board of directors includes both executive and non-executive members, ensuring a diverse governance structure[95] - The company has a non-competition agreement in place with its major shareholder to prevent competition in specified regions[74] - The company’s independent non-executive directors confirmed compliance with the non-competition agreement during the relevant period[75] - The company has confirmed that all directors have adhered to the trading code during the reporting period[91] Dividend Information - The company did not declare any dividends for the period, consistent with the previous year[38] - The group did not declare any dividends for the period, consistent with the previous year[60] Compliance and Reporting - The group did not report any significant impact from the adoption of new accounting standards effective from January 1, 2021[12] - The audit committee has reviewed the unaudited condensed consolidated performance for the period and confirmed compliance with applicable accounting standards and GEM listing rules[94] - The report is accessible on the GEM website and the company's website for at least seven days from the publication date[96] - The first quarter performance report for 2021 has been released, indicating ongoing financial assessments[97]

FURNIWEB HOLDINGS LIMITED 飛 霓 控 股 有 限 公 司 (於開曼群島註冊成立之有限公司) 股份代號 : 8480 ● 香港聯合交易所有限公司 (「聯交所」) GEM 的特色 GEM 的定位·乃為中小型公司提供一個上市的市場·此等公司相比超其他在聯交所上市的公司帶有較高投資風險·有意 投資的人士應了解投資於該等公司的潛在風險·並應經過審慎周詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司·在GEM 買賣的證券可能會較於聯交所主板買賣之證券承受較大的市場波動風險· 同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及香港聯合交易所有限公司對本報告的內容概不負責·對其準確性或完整性亦不發表任何聲 明·並明確表示，概不對因本報告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本報告的資料乃遵照《聯交所 GEM證券上市規則》(「GEM上市規則))而刊載、旨在提供有關飛霓控股有限公司([本公司], 連同其附屬公司統稱「本集團」的資料：本公司的董事（「董事 J）願就本報告的資料共同及個別承擔全部責任。各董事在 作出一切合理查詢後,確 ...

[Financial Performance](index=3&type=section&id=Financial%20Highlights) The Group turned a loss into a profit for the nine months ended September 30, 2020, driven by improved continuing operations [Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) The Group achieved a profit of MYR 3.76 million for the nine months ended September 30, 2020, a turnaround from the prior period's loss Key Financial Data for Q1-Q3 2020 (Thousand MYR) | Indicator | For the Nine Months Ended Sep 30, 2020 | For the Nine Months Ended Sep 30, 2019 (Restated) | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Revenue** | 71,060 | 72,774 | -2.3% | | **Gross Profit** | 22,440 | 21,741 | +3.2% | | **Profit/(Loss) for the Period from Continuing Operations** | 3,758 | (1,858) | Turned to Profit | | **Total Profit/(Loss) for the Period** | 3,758 | (4,402) | Turned to Profit | | **Profit/(Loss) Attributable to Owners of the Company** | 3,758 | (3,896) | Turned to Profit | Earnings/(Loss) Per Share (Sen) | Indicator | For the Nine Months Ended Sep 30, 2020 | For the Nine Months Ended Sep 30, 2019 (Restated) | | :--- | :--- | :--- | | **Basic and Diluted (Continuing Operations)** | 0.67 | (0.26) | | **Basic and Diluted (Discontinued Operations)** | - | (0.48) | | **Total** | 0.67 | (0.74) | [Unaudited Condensed Consolidated Statement of Changes in Equity](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Equity) Total equity attributable to owners increased to MYR 130.38 million by September 30, 2020, driven by profit and comprehensive income Summary of Changes in Equity (Thousand MYR) | Item | Amount | | :--- | :--- | | Balance as at January 1, 2020 | 125,459 | | Total Comprehensive Income for the Period | 4,924 | | Balance as at September 30, 2020 | 130,383 | [Notes to the Financial Information](index=7&type=section&id=Notes%20to%20the%20Financial%20Information) This section details financial statement preparation, accounting policies, segment information, and key account specifics [General Information and Accounting Policies](index=7&type=section&id=1.%20General%20Information%20%26%202.%20Basis%20of%20Preparation%20and%20Accounting%20Policies) The company, an investment holding entity listed on GEM, manufactures elastic textiles, webbing, PVC products, and apparel retail - The company's principal activities include manufacturing and selling elastic textiles, webbing, PVC-related products, and apparel retail[36](index=36&type=chunk) - The controlling shareholder is PRG Holdings Berhad, listed on the Main Market of Bursa Malaysia Securities Berhad[36](index=36&type=chunk) - The adoption of new and revised accounting standards had no significant impact on the Group's financial statements[37](index=37&type=chunk) [Revenue and Segment Information](index=8&type=section&id=3.%20Revenue%20and%20Segment%20Information) Manufacturing is the primary revenue and profit driver, while retail incurred a loss, with Asia Pacific as the main regional revenue source Segment Results for the First Nine Months of 2020 (Thousand MYR) | Segment | Revenue | Profit/(Loss) Before Income Tax | | :--- | :--- | :--- | | **Manufacturing** | 68,745 | 11,549 | | **Retail** | 2,107 | (4,423) | | **Others** | 208 | (2,050) | | **Total** | 71,060 | 5,076 | Revenue by Geographical Region for the First Nine Months of 2020 (Thousand MYR) | Region | Revenue | | :--- | :--- | | Asia Pacific | 53,149 | | Europe | 4,848 | | North America | 12,163 | | Others | 900 | | **Total** | 71,060 | - During the period, revenue from a single major customer A amounted to **MYR 10.26 million**, representing approximately **14.4%** of total revenue[54](index=54&type=chunk) [Discontinued Operations](index=14&type=section&id=9.%20Discontinued%20Operations) The Group disposed of its Vietnamese subsidiary, PEWAV (VN), whose 2019 results were classified as discontinued operations - The Group disposed of its Vietnamese subsidiary PEWAV (VN), with its operations classified as discontinued in 2019[66](index=66&type=chunk) - For the first nine months of 2019, the discontinued operation recorded a loss of **MYR 2.54 million**[70](index=70&type=chunk) [Dividends](index=16&type=section&id=10.%20Dividends) The Board does not recommend the payment of any dividend for the period - The Board does not recommend the payment of any dividend for the period[74](index=74&type=chunk) [Management Discussion and Analysis](index=17&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the Group's business and financial performance, along with future outlook [Business Review](index=17&type=section&id=Business%20Review) The Group's business was significantly impacted by COVID-19, affecting both manufacturing and retail divisions [Manufacturing Division](index=17&type=section&id=Manufacturing%20Division) Manufacturing revenue slightly increased due to new PVC business, despite a decline in core elastic textile and webbing sales - Manufacturing division revenue was approximately **MYR 68.7 million**, representing a **1.0%** year-on-year increase[79](index=79&type=chunk) - Revenue from elastic textiles and webbing both decreased by **9.0%** year-on-year, primarily due to lower sales volume to customers in Asia Pacific, Europe, and North America[83](index=83&type=chunk)[84](index=84&type=chunk) - Revenue from other products (mainly PVC products) increased by **37.0%** to **MYR 20.0 million**, mainly due to contributions from the newly acquired business[85](index=85&type=chunk) [Retail Division](index=19&type=section&id=Retail%20Division) Retail revenue significantly decreased due to reduced tourism, lower consumer spending, and temporary store closures - Retail division revenue decreased by **55.3%** year-on-year to **MYR 2.1 million**[88](index=88&type=chunk) - The decline in revenue was attributed to reduced tourist arrivals, weaker consumer spending, and the temporary closure of Singapore stores due to the COVID-19 outbreak[88](index=88&type=chunk) [Financial Review](index=19&type=section&id=Financial%20Review) Despite a revenue decline, gross profit increased, leading to a turnaround in profit for the period - Total revenue decreased by **2.3%** to **MYR 71.1 million**, while cost of sales decreased by **4.7%** to **MYR 48.6 million**[89](index=89&type=chunk)[93](index=93&type=chunk) - Gross profit increased by **3.2%** to **MYR 22.4 million**, primarily due to lower raw material costs[94](index=94&type=chunk) - Net other income increased by **MYR 2.8 million**, mainly from a **MYR 3.2 million** gain on disposal of a subsidiary[95](index=95&type=chunk) - Administrative expenses decreased by **10.5%**, due to a **MYR 1.5 million** one-off professional fee incurred in the prior period[97](index=97&type=chunk) - Profit for the period was **MYR 3.8 million**, representing a turnaround from loss, though partially offset by a **MYR 4.4 million** loss in the retail division[99](index=99&type=chunk) [Future Prospects and Outlook](index=21&type=section&id=Future%20Prospects%20and%20Outlook) Management maintains a cautious outlook due to global economic challenges, focusing on cost control and sustainability - The global outlook remains bleak due to resurgent pandemics, trade wars, and supply chain disruptions, creating a highly challenging operating environment[102](index=102&type=chunk) - The company continuously reviews supply and demand conditions and implements cost reduction measures to ensure financial continuity and long-term sustainability[102](index=102&type=chunk) [Other Information](index=23&type=section&id=Other%20Information) This section covers corporate governance, directors' and shareholders' interests, and the Audit Committee's review [Corporate Governance and Compliance](index=23&type=section&id=Corporate%20Governance%20and%20Compliance) The company complied with corporate governance codes, with minor rectifications, and confirmed no securities transactions - The company complied with the Corporate Governance Code during the period, except for a temporary non-compliance regarding the insufficient number of independent non-executive directors, which has since been rectified[109](index=109&type=chunk)[110](index=110&type=chunk) - The controlling shareholder, PRG Holdings, has confirmed compliance with the non-competition undertaking[120](index=120&type=chunk) - Neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities during the period[122](index=122&type=chunk) [Directors' and Shareholders' Interests](index=26&type=section&id=Directors%27%20and%20Shareholders%27%20Interests) The report details shareholdings of directors and major shareholders, including the controlling shareholder PRG Holdings Major Shareholders' Interests (As at September 30, 2020) | Shareholder Name | Capacity/Nature of Interest | Number of Shares Held | Percentage of Shareholding | | :--- | :--- | :--- | :--- | | PRG Holdings | Beneficial Owner | 303,468,000 (L) | 54.19% | | CHAM Kah Weng | Beneficial Owner/Spouse's Interest | 65,064,000 (L) | 11.62% | - Several directors hold shares in the controlling company, PRG Holdings[125](index=125&type=chunk) [Review by Audit Committee](index=28&type=section&id=Review%20by%20Audit%20Committee) The Audit Committee reviewed the unaudited consolidated results, confirming compliance with accounting standards and listing rules - The Audit Committee has reviewed the Group's unaudited condensed consolidated results for the period[144](index=144&type=chunk) - The Audit Committee is of the opinion that the results were prepared in accordance with applicable accounting standards, requirements under the GEM Listing Rules, and other relevant legal provisions, with adequate disclosures[144](index=144&type=chunk)

Financial Performance - Revenue for the six months ended June 30, 2020, was 44,433 thousand MYR, an increase of 6.8% compared to 41,635 thousand MYR in the same period of 2019[3] - Gross profit for the same period was 13,510 thousand MYR, up from 12,380 thousand MYR, reflecting a gross margin improvement[3] - Other income surged to 3,812 thousand MYR from 291 thousand MYR in the previous year, indicating a significant increase in non-operating income[3] - The net profit for the period was 1,964 thousand MYR, a recovery from a loss of 2,441 thousand MYR in the same period last year[3] - Basic earnings per share for continuing operations was 0.35 sen, compared to a loss of 0.44 sen in the previous year[9] - The company reported a total comprehensive income of MYR 4,194,000 for the six months ended June 30, 2020, compared to a total comprehensive loss of MYR 4,691,000 in the previous year[21] - The group recorded a profit of 2.0 million MYR for the period, a turnaround from a loss of 2.4 million MYR in 2019, mainly due to the sale of a subsidiary generating 3.2 million MYR in revenue[115] Assets and Liabilities - Total assets as of June 30, 2020, were 156,200 thousand MYR, slightly up from 154,334 thousand MYR at the end of 2019[12] - Current liabilities decreased significantly to 28,049 thousand MYR from 49,564 thousand MYR, improving the company's liquidity position[12] - As of June 30, 2020, the company's non-current liabilities decreased to MYR 26,547,000 from MYR 28,875,000 as of December 31, 2019, representing a reduction of approximately 8.06%[15] - The company's total liabilities decreased from 32,697 thousand MYR as of December 31, 2019, to 19,004 thousand MYR as of June 30, 2020, representing a decline of about 41.5%[74] - The company's equity remained stable at MYR 129,653,000 as of June 30, 2020, unchanged from the previous period[15] Cash Flow and Management - Cash and bank balances increased to 19,293 thousand MYR from 13,669 thousand MYR, indicating better cash flow management[12] - The net cash generated from operating activities was MYR 3,794,000 for the six months ended June 30, 2020, compared to a net cash used of MYR 3,441,000 in the same period of 2019[24] - The cash flow from investing activities showed a net inflow of MYR 1,553,000 for the six months ended June 30, 2020, compared to a net outflow of MYR 3,547,000 in the same period of 2019[24] - The financing activities resulted in a net cash outflow of MYR 2,084,000 for the six months ended June 30, 2020, compared to MYR 861,000 in the same period of 2019[24] Segment Performance - Total revenue for the production segment was 43,037 thousand MYR, while the retail segment generated 1,259 thousand MYR, leading to a total revenue of 44,433 thousand MYR for the period[36] - The operating profit for the production segment was 8,127 thousand MYR, whereas the retail segment incurred an operating loss of 3,154 thousand MYR, resulting in an overall operating profit of 3,492 thousand MYR[36] - The company reported a net profit of 1,964 thousand MYR for the period, with the production segment contributing 7,225 thousand MYR and the retail segment showing a loss of 3,775 thousand MYR[36] - The retail segment's revenue decreased to approximately 1.3 million MYR, down 0.7 million MYR or 35.0% compared to 2.0 million MYR in 2019, primarily due to the impact of COVID-19[106] Market Presence and Strategy - The company plans to continue focusing on expanding its market presence and enhancing operational efficiency in the upcoming periods[4] - The company exports products to over 30 countries, including the USA, UK, India, Indonesia, Australia, Sri Lanka, and Pakistan, indicating a broad international market presence[98] - The company has streamlined its reportable segments into production and retail to better reflect management's review of internal reports[34] Challenges and Future Outlook - The company has faced a challenging environment due to COVID-19, with expectations of a weaker global economy in 2020, impacting demand visibility and supply chain[161] - The retail division is facing significant challenges due to the COVID-19 pandemic, with a decline in visitor numbers and overall consumption expected to persist[164] - The company is reviewing its business strategies and adjusting pricing strategies, productivity improvements, and cost structures to ensure long-term sustainability amid global demand disruptions[161] Compliance and Governance - No transactions were made with sanctioned countries or individuals during the reporting period, ensuring compliance with international sanctions[165] - A risk management committee has been established to monitor and assess potential international sanctions risks[166] - The board has maintained good corporate governance practices in accordance with GEM listing rules[168]

Financial Performance - Revenue for the three months ended March 31, 2020, was HKD 25,464,000, an increase of 7.8% compared to HKD 23,627,000 for the same period in 2019[5] - Gross profit for the same period was HKD 7,725,000, representing a significant increase of 55.7% from HKD 4,956,000 in 2019[5] - The net profit for the period was HKD 2,693,000, compared to a loss of HKD 1,240,000 in the previous year, indicating a turnaround in performance[5] - Other comprehensive income for the period was HKD 2,043,000, compared to a loss of HKD 1,143,000 in the same period last year[10] - Basic earnings per share for the period was HKD 0.48, compared to a loss per share of HKD 0.25 in 2019[10] - The company reported a net cash inflow from operating activities of HKD 3,064,000, a significant improvement from a cash outflow of HKD 910,000 in the previous year[5] - The total comprehensive income for the period was HKD 4,736,000, compared to a total comprehensive loss of HKD 2,383,000 in 2019[10] - The company reported a net profit of 4,997 thousand MYR for the quarter, compared to a loss of 1,625 thousand MYR in the previous year, showing a significant turnaround[27] - The group recorded a gross profit of approximately MYR 7.7 million, an increase of MYR 2.7 million or 54.0% compared to MYR 5.0 million in the same period of 2019, mainly due to improved gross margins from certain production subsidiaries and higher margins contributed by the retail sector[67] - The group reported a profit of MYR 2.7 million for the period, an increase of approximately MYR 3.9 million compared to a loss of MYR 1.2 million in 2019, mainly due to the sale of a subsidiary and improved performance from certain production subsidiaries[72] Revenue Breakdown - For the three months ended March 31, 2020, total revenue from external customers was 25,464 thousand MYR, compared to 23,627 thousand MYR for the same period in 2019, representing an increase of approximately 7.8%[31] - The production segment generated revenue of 24,215 thousand MYR, while the retail segment contributed 1,182 thousand MYR, indicating a strong performance in the production sector[27] - The Asia-Pacific region accounted for the largest share of revenue at 19,521 thousand MYR, up from 16,905 thousand MYR in 2019, reflecting a growth of approximately 9.5%[31] - The company recognized revenue of 3,455 thousand MYR from a single external customer in the elastic textile segment, contributing over 10% to total revenue[32] - Revenue from the production segment was about 24.2 million MYR, an increase of approximately 0.6 million MYR or 2.5% year-on-year[54] - The retail segment generated revenue of approximately 1.2 million MYR during the period, compared to zero in the same period last year[61] - Revenue from elastic textiles decreased by 39.2% to approximately 7.3 million MYR due to the exclusion of PEWAV(VN) from the financial statements[58] - Revenue from other products increased by 153.6% to approximately 7.1 million MYR, primarily due to the acquisition completed in June 2019[60] Expenses and Costs - Financing costs increased to HKD 523,000 from HKD 247,000 in the previous year, reflecting higher borrowing costs[5] - The total financing costs for the quarter amounted to 523 thousand MYR, compared to 172 thousand MYR in the previous year, indicating an increase in financing expenses[39] - The sales cost for the period was 17.7 million MYR, a decrease of approximately 1.0 million MYR or 5.3% compared to 18.7 million MYR in the previous year[66] - Administrative expenses increased to MYR 5.2 million, up by MYR 0.4 million or 8.3% from MYR 4.8 million in 2019, primarily due to administrative expenses incurred by a subsidiary[71] - The retail sector incurred a loss of MYR 1.6 million during the period, compared to a loss of MYR 0.4 million in 2019, significantly impacted by the COVID-19 pandemic[72] Strategic Focus and Market Conditions - The company continues to focus on expanding its market presence and enhancing product offerings to drive future growth[16] - The production sector is facing a challenging environment due to COVID-19, with supply chain disruptions and low demand visibility impacting operations[78] - The group is reviewing its business strategies and cost structures to ensure long-term sustainability amid the economic challenges posed by the pandemic[78] - The retail sector is exploring different sales channels, including digital retail and social media, to adapt to the current unfavorable climate[79] Shareholder and Governance Information - As of March 31, 2020, PRG Holdings holds a significant 54.19% stake in the company with 303,468,000 shares[105] - The major shareholder, Teng Jiahao, has a pledged interest in 259,880,000 shares, representing 46.41% of the company's equity[105] - The company has not engaged in any significant arrangements, transactions, or contracts with its controlling shareholders during the reporting period[87] - The compliance advisor agreement with Shenwan Hongyuan Financing (Hong Kong) Limited was terminated effective January 5, 2020, and a new compliance advisor was appointed[88] - The company has confirmed that there are no significant interests or holdings in any securities that require disclosure under the GEM Listing Rules[96] - The audit committee has reviewed the unaudited consolidated performance for the period and confirmed compliance with applicable accounting standards and GEM listing rules[119] - The company has established an audit committee to assist the board in monitoring financial reporting and internal controls[116] - The chairman of the company is Datuk Lim Heen Peok, with a team of executive and independent directors supporting governance[119] - The company is committed to maintaining transparency and has made its reports available on the GEM website for public access[119]

Financial Performance - The company's revenue for the fiscal year reached RM 125.9 million, an increase of 71.1% compared to the previous year, primarily due to the acquisition of Meinaide Holdings Group Limited and the launch of the luxury fashion business with Philipp Plein in Singapore[9]. - The group recorded a loss of RM 8.8 million from a non-profit subsidiary and associated companies due to impairment losses[9]. - The fiscal year loss was approximately MYR 50.8 million, a decrease of about MYR 51.7 million compared to a profit of MYR 0.9 million in 2018[32]. - The company's financial performance and position as of December 31, 2019, are detailed in the consolidated financial statements on pages 69 to 72 of the report[143]. - The company reported a total distributable reserve of 95.2 million MYR as of December 31, 2019, up from 62.7 million MYR in 2018[152]. Acquisitions and Divestments - The acquisition of Meinaide, completed on June 28, 2019, aims to expand the group's product and technology base in large markets like China[10]. - The company has entered into an agreement to sell its Vietnamese subsidiary to better allocate resources to more profitable product lines, which will be a focus for the upcoming year[10]. - The group completed the acquisition of PVC subsidiary for a total consideration of HKD 140 million, paid through the issuance of 56 million new shares at HKD 2.50 per share[39]. - The group entered into an agreement to sell Premier Elastic Webbing & Accessories (Vietnam) Co., Ltd for a total consideration of approximately USD 2.95 million (equivalent to about MYR 12.03 million)[40]. - The company plans to change the use of approximately 7.3 million MYR of unutilized listing proceeds to acquire all issued shares of Wai Yat Securities Limited for a cash consideration of 8.5 million HKD[61]. Revenue Breakdown - Revenue from the production segment was approximately MYR 119.5 million, an increase of about MYR 45.9 million or 62.4% compared to the previous year[17]. - The retail segment contributed approximately MYR 6.4 million to total revenue, accounting for 5.1% of total revenue, as the first flagship store opened in Singapore in April 2019[25]. - Domestic sales accounted for approximately 53.8% of total revenue, while export sales accounted for 46.2%[17]. - Revenue from other products increased by approximately MYR 37.5 million or 343%, mainly due to contributions from the PVC subsidiary[20]. Expenses and Profitability - A one-time impairment of goodwill amounting to RM 34.5 million was recognized during the acquisition of Meinaide, significantly impacting the group's profitability[9]. - The sales cost for the fiscal year was approximately MYR 91.6 million, an increase of about MYR 39.4 million or 75.5% compared to MYR 52.2 million in the previous year[26]. - Gross profit for the fiscal year was approximately MYR 34.3 million, an increase of about MYR 12.9 million or 60.3% compared to MYR 21.4 million in the previous year[27]. - The gross profit margin decreased from 29.1% to 27.2% due to increased costs and competitive market conditions[27]. - Administrative expenses for the fiscal year amounted to approximately MYR 20.1 million, an increase of about 28.0% from MYR 15.7 million in 2018[31]. Cash Flow and Financial Position - The group's cash and cash equivalents as of December 31, 2019, were approximately MYR 13.7 million, down from MYR 31.6 million in 2018[34]. - The group's current ratio as of December 31, 2019, was approximately 2.4 times, down from 5.8 times in 2018[34]. - The group's debt-to-equity ratio as of December 31, 2019, was approximately 9.5%, compared to 10.8% in 2018[34]. - The group has sufficient financial resources to meet its future operational funding needs based on existing cash and available bank financing[36]. Market Conditions and Risks - The group anticipates that the COVID-19 pandemic will adversely impact global economic performance, affecting financial results due to supply chain disruptions and fluctuations in commodity prices[59]. - The global economic outlook for 2020 is expected to be weak, with the International Monetary Fund stating that the COVID-19 crisis is the most severe economic crisis since the Great Depression[87]. - The performance and growth of the production sector depend on global economic conditions, with challenges posed by COVID-19 impacting supply chains and market dynamics[169]. - The retail division's growth is influenced by domestic GDP growth, consumer confidence, and tourist numbers, with expectations of a challenging retail outlook in 2020 due to decreased visitor numbers and overall consumption[171]. Governance and Management - The company has a strong focus on financial management and corporate services, with experienced executives overseeing these areas[103]. - The independent directors bring diverse expertise, including experience in investment banking and corporate finance, which supports the company's strategic initiatives[106]. - The company has established various committees, including a remuneration committee and a risk management committee, to enhance governance[109]. - The management team is committed to employee development through training and coordination of production-related courses[114]. - The company has appointed a new executive director, Datuk Lua Choon Hann, who has been with the group since November 2013 and oversees strategic planning and business development[98]. Employee and Operational Insights - The group employed 833 employees as of December 31, 2019, an increase from 825 employees in 2018, with employee costs for the fiscal year amounting to approximately 32.8 million MYR, up from about 28.8 million MYR in 2018[50]. - The company emphasizes the importance of employee relations and aims to provide a fair and diverse work environment, ensuring reasonable compensation and continuous improvement in employee welfare[179]. - The company is enhancing its quality control systems by hiring additional production staff and improving internal training programs[68]. Strategic Initiatives - The company is focusing on expanding the application of narrow elastic webbing into sportswear and entering the South Korean market for safety belt webbing[63]. - The company is reviewing its business strategies and adjusting pricing strategies, productivity improvements, and cost structures to ensure long-term sustainability[87]. - The company is exploring different sales channels, including digital retail and social media, to overcome the challenging retail environment[88]. - The company plans to continue divesting any non-profitable entities to enhance overall profitability and cash flow[87].

Financial Performance - For the nine months ended September 30, 2019, the company reported total revenue of MYR 85,695,000, representing a 27% increase compared to MYR 67,535,000 for the same period in 2018[4]. - The gross profit for the nine months was MYR 20,567,000, which is a 39% increase from MYR 15,845,000 in the previous year[4]. - The net loss for the nine months was MYR 4,402,000, compared to a profit of MYR 685,000 in the same period last year[4]. - The company recorded a total comprehensive income of MYR 453,000 for the nine months, a significant decrease from MYR 4,619,000 in the previous year[4]. - The earnings per share for the nine months was a loss of 0.74 sen, compared to a profit of 0.14 sen in the same period last year[4]. - Total revenue for the nine months ended September 30, 2019, was RM 85.695 million, with external customer revenue contributing RM 85.695 million[23]. - Operating profit for the nine months was RM 4.936 million, while the loss from retail operations was RM 3.900 million[23]. - The company reported a net profit of RM 3.097 million for the period, compared to a loss of RM 4.402 million[23]. - The company reported a profit of 1,643 thousand MYR for the nine months ended September 30, 2019, compared to a loss of 685 thousand MYR in the same period of 2018[27]. - The company’s earnings before tax for the nine months ended September 30, 2019, was 1,562 thousand MYR, compared to a loss of 949 thousand MYR in the same period of 2018[27]. - The company reported a basic earnings per share of 0.22 MYR for the three months ended September 30, 2019, compared to 0.15 MYR in the same period of 2018, representing a 46.6% increase[45]. - Total revenue for the period was 85.7 million MYR, an increase of 27.0% from 67.5 million MYR in the same period of 2018[54]. Revenue Breakdown - The manufacturing segment generated RM 80.999 million in revenue, while the retail segment contributed RM 4.696 million[23]. - Revenue from external customers in the Asia-Pacific region for the nine months ended September 30, 2019, was 64,216 thousand MYR, up from 47,477 thousand MYR in 2018, indicating a growth of about 35%[31]. - Revenue from the production segment increased by 13.5 million MYR or 19.9%, contributing approximately 94.5% of total revenue[55]. - The retail segment generated revenue of 4.7 million MYR, accounting for 5.5% of total revenue, following the opening of flagship stores in Singapore and Thailand[53][55]. - Major customer A contributed 9,763 thousand MYR in revenue for the nine months ended September 30, 2019, up from 7,749 thousand MYR in the same period of 2018, representing an increase of approximately 26%[32]. Expenses and Costs - Distribution costs increased to MYR 7,383,000 for the nine months, compared to MYR 1,978,000 in the same period last year[4]. - Administrative expenses rose to MYR 16,113,000 for the nine months, compared to MYR 12,436,000 in the previous year[4]. - Depreciation and amortization expenses totaled RM 4.354 million for the nine months[23]. - Sales costs increased by 25.9% to 65.1 million MYR, in line with revenue growth[56]. - Administrative expenses rose by 29.8% to 16.1 million MYR, primarily due to one-time professional fees related to the acquisition and operational expenses from the retail segment[63]. - The company faced challenges in maintaining margins due to increased raw material costs and labor costs resulting from minimum wage hikes in Malaysia and Vietnam[60]. - Corporate expenses totaled 3.2 million MYR, including one-time professional fees of 1.5 million MYR related to acquisition matters[66]. Financing and Taxation - Interest income for the nine months was RM 328, while financing costs amounted to RM 1.126 million[23]. - The financing costs for the nine months ended September 30, 2019, totaled 1,126 thousand MYR, significantly higher than 532 thousand MYR in the same period of 2018, reflecting an increase of approximately 112%[36]. - The company reported a tax expense of 990 thousand MYR for the nine months ended September 30, 2019, compared to 877 thousand MYR in the same period of 2018, reflecting an increase of approximately 13%[39]. Strategic Outlook - The company plans to focus on market expansion and new product development in the upcoming quarters[4]. - The company anticipates a challenging outlook for the production segment due to cautious procurement by customers amid weak market demand[74]. - The company is exploring new potential export markets and strategic partnerships to strengthen its market position in the production segment[74]. - The retail sector's outlook is also challenging, with a share sale agreement signed with PRG Holdings for the sale of Premier Management International Limited, which is still pending completion[75]. - The company plans to enhance its brand and marketing strategies to increase market share in Southeast Asia[78]. Corporate Governance and Compliance - The company has complied with the corporate governance code during the period[85]. - The company has a compliance advisor, Shenwan Hongyuan Capital (Hong Kong) Limited, which has declared its independence according to GEM listing rules[87]. - The company confirmed that the controlling shareholder has adhered to the non-competition agreement during the reporting period[94]. - The independent non-executive directors confirmed no breaches of the non-competition agreement by the controlling shareholder during the reporting period[94]. - The company has adopted the GEM Listing Rules and confirmed compliance with the trading standards for directors during the reporting period[109]. - The audit committee has reviewed the unaudited consolidated results for the period and found them compliant with applicable accounting standards and GEM Listing Rules[113]. - The audit committee consists of three independent non-executive directors, with Mr. Ho Ming Hon serving as the chairman[110]. Shareholder Information - The company’s ultimate holding company is PRG Holdings Berhad, listed on the Malaysian stock exchange[14]. - The company reported a significant ownership structure, with PRG Holdings holding 54.19% of the issued shares as of September 30, 2019[103]. - The major shareholders include Tang Ka Ho and Jin Hui Consulting Limited, holding 46.41% and 45.90% of the shares respectively[103]. - The company’s issued share capital was 363,005,021 shares with a par value of RM0.25 each as of September 30, 2019[101]. - As of September 30, 2019, the company had no direct or indirect competition interests from its directors or controlling shareholders[95]. - The company has not reported any conflicts of interest involving its directors or major executives during the period[95].

Financial Performance - The group reported revenue of 50,496 thousand MYR for the six months ended June 30, 2019, an increase of 13% compared to 44,496 thousand MYR in the same period of 2018[4] - Gross profit for the same period was 11,567 thousand MYR, up from 10,630 thousand MYR, reflecting a gross margin improvement[4] - The net loss for the period was 4,223 thousand MYR, compared to a profit of 612 thousand MYR in the prior year, indicating a significant decline in profitability[4] - The company reported a total revenue of 71,286 thousand MYR for the six months ended June 30, 2019, compared to 30,255 thousand MYR for the same period in 2018, representing an increase of approximately 135.5%[16] - The company reported a total comprehensive loss of (4,475) thousand MYR for the period, compared to a loss of (4,691) thousand MYR in the previous period[16] - The company reported a net loss attributable to owners of RM (4,013,000) for the six months ended June 30, 2019, compared to a profit of RM 612,000 in the same period of 2018[57] - The company reported a loss of 4.2 million MYR for the period, a decrease of approximately 4.8 million MYR compared to a profit of 0.6 million MYR in the same period of 2018[104] Assets and Liabilities - Total assets increased to 199,616 thousand MYR as of June 30, 2019, compared to 108,979 thousand MYR at the end of 2018, showing strong asset growth[6] - Non-current assets rose to 141,077 thousand MYR from 46,776 thousand MYR, primarily due to the increase in property, plant, and equipment[6] - The company’s equity increased to 169,103 thousand MYR from 98,662 thousand MYR, reflecting a strong capital position[9] - Inventory levels increased to 30,350 thousand MYR from 22,120 thousand MYR, suggesting a buildup of stock[6] - Trade receivables increased to 20,881,000 MYR in June 2019 from 14,889,000 MYR in December 2018, representing a growth of approximately 40.0%[60] - Total trade and other payables rose to 21,271,000 MYR in June 2019 from 11,254,000 MYR in December 2018, marking an increase of about 89.5%[63] - The total amount of trade payables was 7,521,000 MYR in June 2019, compared to 4,375,000 MYR in December 2018, indicating an increase of about 72.0%[63] Cash Flow and Liquidity - The company’s cash and bank balances decreased to 23,648 thousand MYR from 31,600 thousand MYR, indicating a reduction in liquidity[6] - The net cash used in operating activities was (3,441) thousand MYR for the six months ended June 30, 2019, compared to a net cash inflow of 221 thousand MYR in the same period of 2018[19] - The company experienced a net decrease in cash and cash equivalents of (7,849) thousand MYR, down from (3,065) thousand MYR in the previous year[19] - The cash and cash equivalents at the end of the period were 22,702 thousand MYR, a decrease from 32,191 thousand MYR at the end of the previous year[19] - The company’s financing activities resulted in a net cash outflow of (861) thousand MYR, compared to (2,779) thousand MYR in the previous year[19] - The company’s investment activities resulted in a net cash outflow of (3,547) thousand MYR, compared to (507) thousand MYR in the previous year[19] Operational Performance - The company incurred distribution costs of 3,871 thousand MYR, significantly higher than 1,320 thousand MYR in the previous year, indicating increased operational expenses[4] - The company faced increased costs due to rising raw material prices and labor costs, which could not be passed on to customers due to market competition[97] - The company plans to continue reviewing its cost structure and negotiating with customers to improve sales terms[97] - The company completed the acquisition of Meinaide Holdings Group Limited on June 28, 2019, which will contribute to the group's financial performance from that date[86] - The company is focusing on expanding its market share in the elastic textile and webbing industry, with ongoing discussions to supply narrow elastic webbing to potential clients in the sportswear sector[130] Shareholder Information - The company has issued warrants allowing holders to purchase new ordinary shares at an adjusted exercise price of RM0.375 per share[192] - As of June 30, 2019, PRG Holdings holds a beneficial interest in 303,468,000 shares of the company, representing 54.19% of the issued share capital[195] - Wang Securities holds a pledged interest in 257,000,000 shares, accounting for 45.89% of the issued share capital[195] - The total number of issued shares of the company as of June 30, 2019, is 560,000,000[199] Market and Economic Conditions - The group anticipates continued challenges in the production segment due to soft demand from customers in their respective markets[164] - Fluctuations in raw material costs, particularly for oil-based yarn, are expected to impact the group's gross margin[164] - The majority of the group's revenue is denominated in USD, making it susceptible to significant exchange rate fluctuations with the Malaysian Ringgit[164] - The group is actively exploring new potential export markets and expanding strategic partnerships to strengthen its market position[164] Corporate Governance - The group has complied with corporate governance codes during the reporting period[171] - There were no significant contracts established between the group and its controlling shareholders during the reporting period[173]

Financial Performance - The group reported revenue of MYR 23,627,000 for the three months ended March 31, 2019, an increase of 26.0% compared to MYR 18,671,000 in the same period of 2018[4]. - Gross profit for the same period was MYR 4,956,000, a decrease of 3.3% from MYR 5,123,000 year-on-year[4]. - The group incurred a net loss of MYR 1,240,000 for the period, compared to a profit of MYR 236,000 in the previous year, representing a significant decline[4]. - The group’s total comprehensive loss for the period was MYR 2,383,000, compared to a total comprehensive income of MYR 2,346,000 in the same period last year[4]. - Basic and diluted loss per share was 0.25 sen, compared to earnings of 0.05 sen per share in the previous year[4]. - Total revenue for the three months ended March 31, 2019, was 23,627,000 MYR, an increase from 20,960,000 MYR in the same period of 2018, representing a growth of approximately 12.7%[29]. - The company reported a net loss of 1,240,000 MYR for the three months ended March 31, 2019, compared to a profit of 236,000 MYR in the same period of 2018[21]. - Revenue for the period was 23.6 million MYR, an increase of 2.6 million MYR or 12.4% compared to 21.0 million MYR in the same period of 2018[53]. Expenses and Costs - Administrative expenses increased to MYR 4,828,000, up 30.7% from MYR 3,694,000 in the prior year[4]. - The company’s administrative expenses for the three months ended March 31, 2019, were 4,828,000 MYR, an increase from 3,694,000 MYR in the same period of 2018, indicating a rise of approximately 30.7%[21]. - Financing costs increased to 247,000 MYR in the first quarter of 2019 from 208,000 MYR in the same period of 2018, representing an increase of approximately 18.8%[35]. - The company experienced an increase in sales costs by 2.9 million MYR or 18.4% to 18.7 million MYR, aligning with revenue growth[54]. - The gross profit margin decreased from 24.4% to 21.0% due to reduced sales orders for higher-margin products and increased raw material costs[55]. Foreign Exchange and Interest - The group recognized interest income of MYR 114,000, a slight decrease from MYR 136,000 in the previous year[4]. - The group reported a foreign exchange loss of MYR 1,199,000, compared to a loss of MYR 2,459,000 in the previous year[4]. - The company incurred a foreign exchange loss of 175,000 MYR during the three months ended March 31, 2019, consistent with the previous year's loss[34]. - The company will continue to monitor foreign exchange fluctuations, particularly between the local currency and the US dollar, which may affect financial performance[66]. Shareholder Information - As of March 31, 2019, PRG Holdings holds 317,520,000 shares, representing 63.0% of the company's issued share capital[125]. - Major shareholders include Wang Securities (Hong Kong) Limited and Malayan Banking Berhad, each holding 257,000,000 shares, representing 51.0% of the company's issued share capital[125]. - The company’s major shareholders include Datuk Lua Choon Hann, who holds 56,547,500 shares, representing 17.48%[87]. - Cheah Eng Chuan holds 15,527,716 shares, representing 4.80% of the company[87]. Corporate Governance - The company has established an audit committee to oversee financial reporting and internal controls, consisting of three independent non-executive directors[131]. - The audit committee reviewed the unaudited condensed consolidated results for the period and confirmed compliance with applicable accounting standards and GEM listing rules[131]. - Directors confirmed full compliance with the trading code during the period, with no breaches reported[130]. - The company has adopted stringent trading codes in accordance with GEM listing rules[130]. - The group has maintained compliance with corporate governance codes throughout the reporting period, ensuring effective accountability[76]. Future Outlook and Strategy - The group anticipates continued challenges in the manufacturing sector due to cautious procurement attitudes from customers amid ongoing trade disputes, leading to a decline in global growth forecasts[66]. - Fluctuations in raw material costs, particularly oil yarn, are expected to impact the group's gross margin, necessitating regular monitoring and adjustments to procurement plans and pricing strategies[66]. - The group will explore new export markets and enhance its product modification capabilities to broaden product applications and strengthen market position[66]. - The company is committed to reviewing its cost structure and executing business strategies based on market conditions, particularly in expanding production capacity[66]. - The group is actively considering new development opportunities to enhance its market position and overall business growth[66]. Miscellaneous - The company did not declare any dividends for the period, consistent with its historical practice since incorporation[41][42]. - The company did not declare any interim dividends for the period, consistent with the previous year[64]. - The company did not purchase, sell, or redeem any of its listed securities during the period[86]. - The report is for the first quarter of 2019 for FLYING HOLDINGS LIMITED[134]. - The board of directors includes non-executive chairman Dato' Lim Heen Peok and several executive directors[132]. - The report is accessible on the GEM website and the company's website for at least seven days from the publication date[133].