Focus Point sets aside RM16 mil capex for FY22

PETALING JAYA (May 25): Focus Point Holdings Bhd (Focus Point) has set aside a higher capital expenditure (capex) of RM16 million for the financial year ending Dec 31, 2022 (FY22) against RM13.57 million in FY21, which would mainly be used for the opening of new outlets and upgrading old stores.

President and chief executive officer Datuk Liaw Choon Liang said the integrated optical care company plans to open an additional 12-15 optical outlets and three to four food and beverages (F&B) stores under the Komugi brand in Malaysia this year.

He said there are currently 182 optical outlets and 10 Komugi stores in Malaysia, adding that the outlook for FY22 seems to be promising, given the reopening of international borders and economic recovery.

“Following the opening of borders on April 1, we have seen promising growth in our business as people started to throng the shopping malls.

“If we look at the performance over the past two-month, I would say it is better than pre-Covid-19’s performance due to the ‘revenge buying’ behaviour among consumers,” he told the media after the company’s annual general meeting here on Wednesday (May 25).

Liaw said Focus Point’s FY22’s growth would continue to be driven by its optical business, which accounted for about 82% of its net profit in FY21, followed by its F&B business (15%) and Lasik surgery business (3.0%).

To further boost the optical business, he said the company has launched a new optical outlet brand, Optometris Anggun recently, mainly targeting the mid-to-high-end Malay market.

“We have opened three Optometris Anggun shops over the last two months, and two new openings are expected in the next few months,” he said.

Asked if China’s lockdowns had affected the supply of its eyewear, he said the impact on the company’s optical business had been minimal, as there are sufficient stocks in its warehouse.

“Moreover, we have other suppliers from Europe, Japan and South Korea,” he said.

He also noted that the weakening ringgit had a negligible impact on the company’s optical business, as they would just follow the recommended prices set by the brand principles.

As for its F&B business, Liaw said the company had to revise the prices of selected products upwards by about 5% to 10% since two months ago, due to rising ingredient costs.

“We are still monitoring the situation, as we are also concerned about the shortage of some ingredients such as flour, and we hope that there would not be another round of price adjustments (in the near future),” he said.