Financial Performance - The company's revenue increased by approximately 3.7% from about MYR 115.9 million in the previous fiscal year to approximately MYR 120.1 million in the current fiscal year[20] - Profit for the fiscal years ended December 31, 2020, and December 31, 2021, was approximately MYR 8.5 million and MYR 11.8 million, respectively[22] - Earnings per share for the fiscal years ended December 31, 2020, and December 31, 2021, were approximately MYR 0.0186 and MYR 0.0241, respectively[22] - The group's revenue increased by approximately 3.7% from about 115.9 million MYR in the year ended December 31, 2020, to approximately 120.1 million MYR in the current fiscal year[28] - The group's profit for the year was approximately 11.8 million MYR, compared to approximately 8.5 million MYR in the previous year, with earnings per share increasing from approximately 1.86 MYR to about 2.41 MYR[38] Business Strategy and Operations - The company plans to explore various business opportunities to promote growth in response to market conditions[18] - The company focuses on adjusting pricing and emphasizing higher-margin products to maintain revenue growth[18] - The distribution segment was only slightly affected by COVID-19, while the production segment faced operational disruptions due to global supply chain issues[20] - The company implemented strict COVID-19 preventive measures, including mandatory testing and frequent disinfection of facilities[19] - The group is actively exploring opportunities in Malaysia and overseas as it adapts to the new normal post-COVID-19[24] Revenue Segmentation - The manufacturing segment's revenue decreased by about 5.8% from approximately 39.1 million MYR to approximately 36.8 million MYR due to intensified market competition and supply chain issues caused by COVID-19[29] - The distribution segment's revenue increased by approximately 8.5% from about 76.8 million MYR to approximately 83.4 million MYR, primarily due to an increase in sales of tea by about 4.4 million MYR[30] Expenses and Costs - Administrative and other operating expenses increased from approximately 9.8 million MYR to approximately 11.4 million MYR, mainly due to product registration fees, employee costs, and professional consulting fees[36] - Financing costs recorded were approximately 31,000 MYR and approximately 50,000 MYR for the years ended December 31, 2021, and 2020, respectively[37] Liquidity and Financial Position - The current ratio was reported at 10.8, while the quick ratio was at 6.8, indicating a strong liquidity position[39] - The group did not recommend a final dividend for the current fiscal year, consistent with the previous year[47] Investments and Assets - The total assets measured at fair value through profit or loss amounted to 43,336,000 MYR as of December 31, 2021, compared to 53,074,000 MYR in the previous year[53] - The significant investments included Affin Hwang Aiiman Money Market Fund with a fair value of 19,210,000 MYR, and Affin Hwang Selected Bond Fund with a fair value of 20,219,000 MYR, reflecting a 27% return[53] - The company made a strategic investment of 1.0 million USD (approximately 7.8 million HKD) to acquire a 6.67% stake in VetCell International Limited, focusing on long-term strategic purposes[56] - The group has a capital commitment of 25,500,000 RMB (approximately 16,641,000 MYR) related to its investment in Hainan[58] Risk Management - The company has identified key risks including fluctuations in product demand and potential disruptions in the supply of raw materials, which could adversely affect financial performance[64] - The group plans to monitor foreign currency risks and may consider foreign exchange hedging activities to mitigate the impact of currency fluctuations on operational performance[68] - The company did not utilize any derivative financial instruments during the fiscal year to manage foreign currency risks[68] Employee and Workforce - As of December 31, 2021, the group had 53 employees, with total employee costs (including directors' remuneration) amounting to approximately MYR 6.1 million, an increase from MYR 5.5 million in 2020[69] - The workforce consists of 53 full-time employees, with 53% male and 47% female representation[126] - Over 25 employees participated in training programs during the fiscal year, averaging 7 hours of training per employee[132] - The company has not employed any children or adolescents under 18 years of age and has no reported cases of forced labor[133] Environmental Impact - In the fiscal year 2021, the total greenhouse gas emissions amounted to 599.0 tons of CO2 equivalent, an increase from 447.7 tons in 2020, representing a 33.8% rise[104] - The company reported nitrogen oxides (NOx) emissions of 0.9 kg in 2021, up from 0.4 kg in 2020, indicating a 125% increase[102] - Diesel consumption decreased to 60,241 liters in 2021 from 72,729 liters in 2020, reflecting a reduction of 17.2%[109] - The electricity consumption was recorded at 457,589 kWh in 2021, down from 574,023 kWh in 2020, showing a decrease of 20.3%[109] - The company has established environmental policies to minimize negative impacts on the environment, adhering to the Malaysian Environmental Quality Act since 1974[112] Corporate Governance - The board of directors is responsible for overseeing the company's business affairs and overall performance management[143] - The company has adopted corporate governance codes and principles to enhance shareholder value and ensure accountability[141] - The company has established an audit committee to oversee compliance with legal and regulatory requirements[143] - The company has implemented risk management policies to address potential risks, including national, regulatory, and operational risks[199] - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee specific areas of governance[174] Community Engagement - The company aims to continue engaging with and contributing to the communities where it operates in the future[139] - The company made cash and in-kind donations of approximately 21,000 MYR in fiscal year 2021, a decrease from about 61,000 MYR in fiscal year 2020[139] - The company supports local employment in the regions where it operates[122]
利特米(01936) - 2021 - 年度财报