Financial Performance - For the nine months ended September 30, 2023, the group reported revenue of 153,906 thousand MYR, a significant increase of 70.4% compared to 90,349 thousand MYR in the same period of 2022[2]. - Gross profit for the nine months ended September 30, 2023, was 37,277 thousand MYR, representing a 54.1% increase from 24,180 thousand MYR in the previous year[2]. - The net profit for the nine months ended September 30, 2023, was 5,116 thousand MYR, down 41.0% from 8,810 thousand MYR in the same period of 2022[2]. - The basic and diluted earnings per share for the nine months ended September 30, 2023, were 0.85 sen, compared to 1.56 sen for the same period in 2022[4]. - The total comprehensive income for the nine months ended September 30, 2023, was 6,880 thousand MYR, a decrease of 37.5% from 11,034 thousand MYR in the previous year[4]. - Operating profit for the nine months was MYR 9,139,000, compared to MYR 10,601,000 in the previous year, reflecting a decrease of 13.8%[16][18]. - Profit for the period was approximately RM 5.1 million, a decrease of RM 3.7 million or 42.0% compared to RM 8.8 million in the same period of 2022, primarily due to reduced profits from the production segment and one-time impairment losses[53]. Revenue Segmentation - Revenue from the production segment was MYR 74,900,000, while the energy efficiency segment generated MYR 78,876,000, indicating a strong performance in both areas[16]. - The Asia-Pacific region contributed MYR 133,861,000 to revenue for the nine months, a substantial increase from MYR 65,688,000 in 2022, representing a growth of 103.5%[22]. - The revenue from the production segment for the nine months ended September 30, 2023, was approximately 74.9 million MYR, down 10.9% from 84.1 million MYR in the same period of 2022[40]. - The revenue from elastic textiles for the three months ended September 30, 2023, was about 21.5 million MYR, a decrease of 24.6% from 28.5 million MYR in the same period of 2022[41]. - The revenue from the energy efficiency segment for the three months ended September 30, 2023, was approximately 78.9 million MYR, significantly up from 6 million MYR in the same period of 2022, reflecting an increase of 1,315%[44]. - The revenue from other products for the three months ended September 30, 2023, was approximately 20.7 million MYR, a decrease of 6.3% from 22.1 million MYR in the same period of 2022[43]. Expenses and Costs - The group's administrative expenses for the nine months ended September 30, 2023, increased to 28,201 thousand MYR from 15,163 thousand MYR in the previous year, reflecting a rise of 86.0%[2]. - The group's cost of sales for the period was approximately RM 116.6 million, an increase of RM 50.4 million or 76.1% compared to RM 66.2 million in the same period of 2022, consistent with the revenue increase[46]. - The gross profit margin decreased from 26.8% to 24.2%, primarily due to a one-time provision of RM 2.5 million for unsold PVC-related products and increased chemical and utility costs[48]. - The company incurred financing costs of MYR 726,000 for the nine months, slightly higher than MYR 453,000 in the previous year, reflecting an increase of 60.0%[16][18]. - The total tax expense for the nine months ended September 30, 2023, was 4,023,000 MYR, compared to 1,791,000 MYR in the same period of 2022, marking an increase of 124.5%[32]. Strategic Actions - The company completed the sale of a subsidiary involved in the manufacturing and sales of PVC-related products on September 19, 2023[8]. - The company sold a subsidiary involved in the manufacturing and sales of PVC-related products on September 19, 2023, which is part of its strategic focus on core business areas[12]. - The company has adopted new and revised International Financial Reporting Standards effective from January 1, 2023, with no significant impact on the financial statements[11]. - The company anticipates challenges from inflation and rising interest rates affecting global consumer spending, alongside supply chain disruptions and increased material costs[55]. - The energy efficiency business is expected to provide growth opportunities due to increasing global energy consumption and government support for environmental measures[55]. Corporate Governance - The company has established a risk management committee to monitor and assess international sanctions risks, ensuring compliance with relevant regulations[58]. - The company has established an audit committee to oversee financial reporting and internal controls since September 20, 2017[92]. - The audit committee consists of three independent non-executive directors, with Ho Ming Hon as the chairman[92]. - The company confirmed compliance with the GEM listing rules regarding securities trading by all directors during the reporting period[90]. - The company has confirmed compliance with the non-competition agreement by the controlling shareholder, with no issues raised regarding adherence to the terms during the reporting period[65]. Shareholder Information - As of September 30, 2023, PRG Holdings holds 303,468,000 shares, representing 50.45% of the company's issued shares[87]. - As of September 30, 2023, the total issued shares of the company are 601,565,600[82]. - Director Lua Choon Hann holds 260,000 shares, accounting for 0.04% of the company's shares[81]. - Director Lim Heen Peok holds 108,800 shares in PRG Holdings, representing 0.03%[84]. - Major shareholders include Jan Jiawen with 53,572,000 shares, representing 8.91%[87]. - Ng Yan Cheng holds 66,977,600 shares, which is 11.13% of the company's issued shares[87]. Recent Developments - The company appointed a new executive director, Kang Boon Lian, effective July 1, 2023[76]. - The company did not declare any dividends for the current period, consistent with the previous year[35]. - The company did not repurchase any listed securities during the reporting period[68]. - There were no significant arrangements, transactions, or contracts involving the directors or controlling shareholders during the reporting period, aside from those disclosed[67]. - The company has not identified any significant matters that require disclosure after September 30, 2023, up to the report date[80]. - The company has made no purchases or sales of its listed securities during the reporting period[68].
飞霓控股(08480) - 2023 Q3 - 季度财报