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2021-05-26 00:50 | Report Abuse
"There are pockets of opportunities to be unlocked such as cross selling of products and transfer of knowledge to boost business efficiencies within the company," he said in a statement today.
He added that DNeX is upbeat on the outlook ahead underpinned by the rising adoption of digitalisation as well as improving oil prices while the shortage of chips globally is favourable to the company's entrance into the semiconductor sector via its proposed acquisition of SilTerra Malaysia Sdn Bhd.
In addition, he said Brent crude oil prices which have been on a steady rise and are currently trading at levels above US$60 per barrel augur well for DNeX's increase of its stake in Ping Petroleum Ltd (PPL) to 90 per cent from 30 per cent currently.
On the back of the positive development, PPL is also exploring opportunities to unlock its untapped potential and maximise economic value from its asset portfolio, he said, adding that overall, the operating landscape in the new fiscal year is expected to improve supported by market optimism arising from the roll out of Covid-19 vaccines programmes globally.
The next audited financial statements will be for a period of 18 months from January 1, 2020 to June 30, 2021.
Due to the change, there are no comparative figures disclosed for the preceding year corresponding period.
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Stock: [OFI]: ORIENTAL FOOD INDUSTRIES HLDG
2021-08-29 22:22 | Report Abuse
The Group is running at 60 percent of the production capacity due to the 60 percent workforce requirements by
the relevant authority. Production was temporarily stopped for around two weeks in this quarter in
compliance with the relevant authority’s instructions and for sanitization purposes. These
measures and precautions have negatively impacted our production and eventually our sales for
this quarter.
However, the Board still expects that the performance of the Group will be satisfactory and remain
positive for the financial year ending 31 March 2022, despite facing various challenges from the
competitive markets and the uncertainties due to the global pandemic issue.
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