17. Results from operating activities are arrived at after (charging)/crediting: (continue)
The Group is exposed to foreign currency risk on purchases that are mainly denominated in US Dollar ("USD"). However, the Group hedges most of the exposures by purchasing forward currency contracts in USD for payments on due dates
19. Prospects
Malaysia’s economy is estimated to have grown 3.9% in the first quarter of 2024. The International Monetary Fund (IMF) has revised the outlook for Malaysia’s real gross domestic product (GDP) by a notch upwards to 4.4 per cent this year from its earlier prediction of 4.3 per cent.
In February, Ringgit traded at almost RM4.80 against the US Dollar, near 26-year lows since the Asian Financial Crisis. The weak Ringgit exchange rate continues to have a negative impact to all ICT imported goods and consumer spending sentiment.
Although we haven’t got the official general availability date, official retailers and telcos will be taking preorders of the Pixel 9 on 14th August onwards, the official retailers are Urban Republic, Senheng and SenQ. while only telcos Maxis and CelcomDigi have confirmed that they will be offering the Pixel 9 through their postpaid plans.
According to the SIRIM eCOMM database, the distributor for the Google Pixel 9 series is VSTECS ASTAR Sdn Bhd, which is a well known and reputable distributor that has carried various tech products in the market, some notable brands include HP, ASUS, HONOR and Ruark, hence we should expect decent after sales support.
Retailers are expected to begin their preorder on 14th August 2024, which is the day that Google will also officially launch the phones globally, this is commendable and we are happy to see that Google is making Malaysia one of its key market in the APAC
Outbound shipments of ICT products came to US$20.6 billion last month, up 28.5 percent from $16.03 billion a year earlier, according to data compiled by the Ministry of Science and ICT.
All sales made by VSTECS to the Purchaser shall be subject to the following Terms and Conditions (T&C). The Purchaser’s unequivocal acceptance of these T&C shall be deemed by any of the following actions:
3. PRICE, PAYMENT AND CREDIT FACILITIES
3.1. VSTECS's quoted prices shall be in Ringgit Malaysia (RM) and are subject to change without prior notice.
Icom further added that all its radios are manufactured at the same factory in Japan, and that it only sells products for overseas markets via authorised distributors.
Refer to AR2023, VSTECS hedges their purchase denominated in USD, no benefit due to weakening USD in short term (about 6mths) though RM could hit 3.55 against USD by end 2025 as projected by BMI, will BoD change their forex strategy?
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probability
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Posted by probability > 4 weeks ago | Report Abuse
From Q1 FY2024 Pg 13 & 14:
17. Results from operating activities are arrived at after (charging)/crediting: (continue)
The Group is exposed to foreign currency risk on purchases that are mainly denominated in US Dollar ("USD"). However, the Group hedges most of the exposures by purchasing forward currency contracts in USD for payments on due dates
19. Prospects
Malaysia’s economy is estimated to have grown 3.9% in the first quarter of 2024. The International Monetary Fund (IMF) has revised the outlook for Malaysia’s real gross domestic product (GDP) by a notch upwards to 4.4 per cent this year from its earlier prediction of 4.3 per cent.
In February, Ringgit traded at almost RM4.80 against the US Dollar, near 26-year lows since the Asian Financial Crisis. The weak Ringgit exchange rate continues to have a negative impact to all ICT imported goods and consumer spending sentiment.