STOCK SIGNAL-CI HOLDING

STOCK SIGNAL-CI HOLDING

Zen
Publish date: Thu, 05 Nov 2015, 11:55 AM
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Break 2.20 just now .TP 2.60  

 

The Group’s principal activities are focused on branded products. C.I. Holdings Berhad’s subsidiary companies are currently involved in:
 
i) Manufacturing and packing of all types of edible oils; and
ii) Manufacturing and trading of water taps and other plumbing accessories.
 
Below is a summary of the operations of CI Holdings Berhad’s main subsidiaries:-
 
Edible Oil Products Division
 
- Continental Resources Sdn Bhd (“CRSB”
-Tapware Division
-Sanitary Ware Division
 
IMPROVEMENT OF FINANCIAL IMPROVEMENT
 
The financial year under review has proven to be an exhilarating year
for the Group as we saw the Group’s total revenue increase by 334.57
percent compared to the revenue of RM91.88 million, recorded last
year. This year’s total revenue of RM399.28 million translated to a
profit before tax of RM17.15 million as compared to a loss before tax
of RM1.38 million in the previous year.
The completion of the Group’s acquisition exercise of the entire issued
and paid up share capital of Continental Resources Sdn Bhd (“CRSB”)
marked the Group’s entry into the edible oil products industry. The said
acquisition was a continuation of the Group’s effort and commitment
to remain as a player in the Consumer Goods sector of the economy.
Following from the above, earlier in May this year, the Group further
expanded its edible oil products division by acquiring sixty percent
(60%) of equity in Palmtop Vegeoil Products Sdn Bhd (“Palmtop”), a
manufacturer and packer of edible oil products much like CRSB, with
vast distribution network in the African and the Middle-Eastern regions.
We are pleased to welcome to our Board YBhg Dato’ Sukumaran
s/o Ramasamy who joined us in June 2015 as a Non-Independent
Non-Executive Director and as his Alternate YBhg Dato’ Tan Fok
Wah. Both these gentlemen have been instrumental in developing and
expanding the edible oil products sales network for Palmtop and will
continue to manage and operate Palmtop.
As at 30 June 2015, the Group maintained a strong financial position
with net gearing ratio remaining low at 0.28 times and cash and bank
balances of RM52.82 million. The Group ended the 2015 financial
year with a credible net profit of RM13.09 million.
 
 
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Zen Trader

WOW HIT 2.42 from our buy call 2.23 today!!

2015-11-05 16:13

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