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].
飞霓控股(08480) - 2019 Q1 - 季度财报