Financial Performance - Revenue for the six months ended June 30, 2021, was RM 43,494,431, a 2% increase from RM 42,635,761 in 2020[12] - Operating loss increased by 19% to RM (8,689,006) compared to RM (7,320,983) in the previous year[12] - The company reported a total comprehensive loss of RM (6,883,979) for the six months ended June 30, 2021, compared to RM (4,357,003) in 2020[17] - Basic and diluted loss per share was RM (0.83) compared to RM (0.71) in the previous year[17] - The company reported a pre-tax loss of MYR 8,950,174 for the six months ended June 30, 2021, compared to a loss of MYR 7,690,158 in the same period of 2020[26] - The company reported a loss attributable to equity shareholders of RM 8,949,570 for the six months ended June 30, 2021, compared to a loss of RM 7,684,067 in the same period of 2020, representing an increase in loss of approximately 16.5%[49] - The basic loss per share for the six months ended June 30, 2021, was 0.83 sen, compared to 0.71 sen for the same period in 2020, indicating a deterioration in earnings per share[49] Revenue Breakdown - Revenue from coconut-related food products for the six months ended June 30, 2021, was RM 40,595,194, a decrease of 1.4% compared to RM 41,179,752 in the same period of 2020[36] - Revenue from Southeast Asia increased significantly to RM 18,120,674, up 27.5% from RM 14,171,664 in the same period of 2020[39] - Revenue from the Middle East decreased to RM 6,557,742, down 24.6% from RM 8,697,000 in the same period of 2020[39] Assets and Liabilities - Total assets decreased by 6% to RM 109,511,205 from RM 116,395,184 at the end of 2020[13] - Current assets decreased from MYR 69,778,615 to MYR 62,650,256, a reduction of about 10.19%[20] - Non-current liabilities decreased from MYR 31,759,751 to MYR 28,227,906, a decrease of approximately 11.14%[21] - Total liabilities increased from MYR 48,767,228 to MYR 53,434,069, an increase of about 9.67%[21] - The total equity attributable to shareholders decreased from MYR 116,327,945 to MYR 109,439,263, a decline of approximately 5.97%[20] Cash Flow and Investments - Cash and cash equivalents decreased by 25% to RM 24,286,102 from RM 32,592,186 at the end of 2020[13] - The company incurred a net cash outflow from operating activities of MYR 2,136,923, compared to an outflow of MYR 4,706,287 in the previous year[26] - The company invested MYR 7,965,360 in property, plant, and equipment during the period, compared to MYR 1,305,311 in the previous year[28] Operational Efficiency and Strategy - The company aims to improve operational efficiency and explore new market opportunities in the upcoming quarters[11] - The company’s management is focused on exploring sustainable strategies to maintain competitiveness in the new normal post-COVID-19[72] - The group remains optimistic about long-term prospects and profitability, focusing on the growth of coconut milk and coconut juice sales while optimizing production capacity[85] Production and Capacity - The production of coconut milk powder was temporarily halted due to COVID-19, impacting overall productivity and sales costs during the first half of 2021[69] - The company’s ultra-high temperature liquid production facility saw increased revenue due to sustained demand for liquid coconut products during the first half of 2021[72] - The production capacity for coconut milk powder and low-fat coconut flakes is expected to increase by 2,000 tons and 1,800 tons per year, respectively, upon the restoration of operations at the Johor factory[105] Shareholder Information - The company’s major shareholders include Tang Koon Fook with a 52.5% stake (567 million shares) and Lee Sieng Poon with a 22.5% stake (243 million shares)[121] - The total issued shares of the company as of June 30, 2021, were 1,080 million[125] Corporate Governance - The company has adopted and complied with all applicable code provisions of the Corporate Governance Code as set out in Appendix 14 of the Listing Rules during the first half of 2021[134] - The Audit Committee has reviewed the unaudited interim condensed consolidated results for the first half of 2021 and agreed with the accounting principles and practices adopted by the company[137]
椰丰集团(01695) - 2021 - 中期财报