Prospect from latest annual report... seem their earning growth is sustainable. Valuation is quite cheap! Started to pay good dividend since 2019 as well.
A CAUTIOUS PROGRESSION
In Malaysia, the initial movement control order (MCO) stages during the first half of the year 2020 brought the entire nation’s economy to a standstill. Although businesses have since been opening back up gradually, the continued fluctuating of new case numbers both locally and globally means that there is still a long road ahead towards economic recovery.
【While the adverse effects of the pandemic have been minimal for the Group during the year under review, they are expected to reverberate well into the next financial year.】 It is amidst this hallenging climate that Resintech is cautiously strengthening our positioning and capitalising on decades of manufacturing experience as we seek further product improvement and diversification opportunities in a bid to remain competitive in the marketplace.
At Resintech, our people are at the heart of the Group’s progress. As such, in pursuing long-term growth and sustainability, we continue to place priority on their wellbeing. Additionally, 【we have invested in state-of-the-art machine ties, expanded our product line with the recent introduction of triple wall profile pipes with larger diameters in East Malaysia and enhanced existing governance measures to increase productivity while decreasing costs.】 【We have also been exploring solar energy in a bid to minimise our impact on the environment.】
In August 2020, the Group 【opened the doors of a new production facility at the Demak Laut Industrial Park in Kuching, Sarawak, to address the demands of our market diversification efforts. Plans to expand this new facility are already underway.】 Consequently, we look forward to the further expansion of the rest of our facilities, which was previously being slowed down due to COVID-19-related restrictions. 【Plans are also in the pipeline to upgrade our facilities and production lines to enable us to enhance the overall performance of the Group】 and continue producing good quality products at competitive prices.