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]
椰丰集团(01695) - 2020 - 年度财报