he Board of Directors of the Company wishes to announce that a fire incident has occurred at one (1) production facility in the factory building at No. 15, VSIP Street 6 Vietnam Singapore Industrial Park Thuan An District Binh Duong Province, Vietnam, belonging to Perstima (Vietnam) Co., Ltd. ("PVCL"), a wholly-owned subsidiary. PVCL is principally engaged in the manufacturing and sale of tinplates.
The fire started at about 7.20 p.m. (Vietnam time) on Friday, 8 April 2016 and was put out at about 9.30 p.m. (Vietnam time) on the same day.
Based on the initial investigation, the damage was on limited portion of the process line and the estimate value of the damages has yet to be ascertained. The production has been temporarily stopped and resumption of usual operations is still being assessed. However, PVCL has taken initial action in collaboration with the related contractors to recover the process line soonest possible.
All the assets, materials and finished goods are fully insured. PVCL has also discussed with insurers to ascertain the actual extent and quantum of the damage caused by the fire.
An appropriate announcement shall be made once usual operations resumed and losses are ascertained.
I think its not only me bongok/ stupid that u had called here.....many others u had called the same way. I think seriously your mother didnt teach u a lesson when u were small. U are very rude and low class dog in this forum. Pity your ancestors.
The Chairman at today's AGM agreed with one long-time shareholder that the company's shares are not that liquid, and difficult to trade on a daily basis. He has also taken note of the shareholder's suggestion of giving a bonus in view of the company's substantial distributable retained earnings.
The Group’s revenue for the quarter ended 30 June 2016 (“current quarter”) compared with the quarter ended 30 June 2015 (“corresponding period in the previous year”) increased by RM17.9 million (11.3%) due to higher sales volume despite lower selling price. The Group’s profit before taxation for the current quarter compared with the corresponding period in the previous year increased by RM3.7 million (31.3%) due to higher sales volume coupled with better profit margin during the current quarter.
For Malaysia, the Company’s revenue for the current quarter increased by RM42.4 million (41.3%) as compared to corresponding period in the previous year due to higher sales volume despite lower selling price. The Company’s profit before taxation for the current quarter of RM12.9 million was higher as compared to RM5.8 million in the corresponding period in the previous year due to higher sales volume coupled with better profit margin.
For Vietnam, the subsidiary Company’s revenue decreased by RM14.8 million (25.8%) compared with the corresponding period in the previous year due to lower sales volume coupled with lower selling price. The subsidiary Company’s profit before taxation for the current quarter of RM2.4 million was lower compared to RM5.8 million for the corresponding period in the previous year due to lower profit margin coupled with lower sales volume.
For the current quarter, the Group recorded a revenue of RM176.3 million compared with RM199.5 million in the quarter ended 31 March 2016 (“previous quarter”). The Group’s lower revenue was due to lower selling price coupled with lower sales volume. The Group recorded a profit before tax of RM15.3 million compared with RM17.2 million in the previous quarter. The lower profit before tax was due to lower sales volume and lower profit margin.
For Malaysia, the Company recorded a revenue of RM144.9 million as compared to RM139.3 million in the previous quarter. The Company’s revenue was higher due to higher sales volume despite lower selling price. The Company recorded a profit before tax of RM12.9 million compared with RM24.6 million in the previous quarter. The lower profit before tax during the current quarter was mainly due to dividend income received from the subsidiary company of RM12.8 million and offset by higher sales volume despite lower profit margin during the current quarter.
For Vietnam, the subsidiary Company recorded a revenue of RM42.6 million as compared to RM62.6 million in the previous quarter. The subsidiary Company’s revenue was lower due to lower sales volume and lower selling price. The Company recorded a profit before tax of RM2.4 million compared with RM5.4 million in the previous quarter. The lower profit before tax during the current quarter was due to lower profit margin and lower sales volume.
The Board of Directors expects the Group’s operating environment to remain challenging and competitive due to greater importation, in addition to the volatility of Ringgit Malaysia against US Dollar. Although these factors will affect the growth and profitability of the Group, the Management will continue with its cost saving measures and is confident that the profitability of the Group for the financial year ending 31 March 2017 will be satisfactory.
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 307 views | 2 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 11539 views | 10 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Woei Yeong Chiam
5 posts
Posted by Woei Yeong Chiam > 2016-04-11 09:40 | Report Abuse
he Board of Directors of the Company wishes to announce that a fire incident has occurred at one (1) production facility in the factory building at No. 15, VSIP Street 6 Vietnam Singapore Industrial Park Thuan An District Binh Duong Province, Vietnam, belonging to Perstima (Vietnam) Co., Ltd. ("PVCL"), a wholly-owned subsidiary. PVCL is principally engaged in the manufacturing and sale of tinplates.
The fire started at about 7.20 p.m. (Vietnam time) on Friday, 8 April 2016 and was put out at about 9.30 p.m. (Vietnam time) on the same day.
Based on the initial investigation, the damage was on limited portion of the process line and the estimate value of the damages has yet to be ascertained. The production has been temporarily stopped and resumption of usual operations is still being assessed. However, PVCL has taken initial action in collaboration with the related contractors to recover the process line soonest possible.
All the assets, materials and finished goods are fully insured. PVCL has also discussed with insurers to ascertain the actual extent and quantum of the damage caused by the fire.
An appropriate announcement shall be made once usual operations resumed and losses are ascertained.
This announcement is dated 10 April 2016.