As the Company is listed in the Bursa Malaysia Securities Berhad, we do not provide profit forecasts. The impact of the COVID-19 pandemic would persist into next year and inspite the uncertainties in the global environment, the Group’s R&D team would continue to focus on the timely realisation of several planned new products. However, the Group performance would depend on consumers’ responses. Question 2: Why has the employee cost increased so much from RM25.957 million to RM30.628 million? Please also explain on the increased of receivables and stock from RM8.782 million to RM24.880 million and RM34.301 million to RM57.888 million respectively for the financial year ended 30 June 2020 as compared to the previous financial year? How is the progress of FOBO business? Is the Company having any plan to do Bonus Issue? The Company’s response: Due to the increase in minimum wages to RM1,200.00 per month since February this year, it has impact of direct cost increased by approximately RM0.3 million per month of the Group. Moreover, the Group had halted its production during the Movement Control Order (“MCO) in March 2020 and resume 50% production in April 2020 which resulted in idle production costs of RM3.2 million. The Group resumed full operation from 29 April 2020 onwards. The increased in receivables was due to the higher sales recorded in the last 3 months before the closing in June 2020. In tandem with the increased in orders, inventories have also increased in preparation for the order fulfilment. FOBO business has increased in the past 2 to 3 months. There were also new distributors for FOBO brand in the United States and Japan which helps to promote growth for FOBO sales. The Company would consider to undertake the Bonus Issue to reward the shareholders when the time is right.
even private placement also take time.. i'm not sure will done before or after QR. most likely after because need time to get approval and fix the price. nowaday private placement give some support or potential to the share price ( not those lousy penny stock)
Got chance, 50% Logitech product manufacturing in China. Since trade war, they got move out some product for Asia ODM manufacturers… China got the good technology, quantity supply of labour, logistics and so on…
For TWS, due to it is small component, Salutica also got chance.
Look look Logitech AR:
Our principal manufacturing operations and third-party contract manufacturers are located in China and Southeast Asia, which exposes us to risks associated with doing business in that geographic area as well as potential tariffs, adverse tax consequences and pressure to move or diversify our manufacturing locations. We produce approximately half of our products at the facilities we own in China. The majority of our other production is performed by third-party contract manufacturers, including original design manufacturers, in China, Taiwan, Hong Kong, Malaysia, Vietnam, and Thailand. Our manufacturing operations in China could be adversely affected by changes in the interpretation and enforcement of legal standards, strains on China’s available labor pool, changes in labor costs and other employment dynamics, high turnover among Chinese employees, infrastructure issues, import-export issues, cross-border intellectual property and technology restrictions, currency transfer restrictions, natural disasters, regional or global pandemics, conflicts or disagreements between China and Taiwan or China and the United States, labor unrest, and other trade customs and practices that are dissimilar to those in the United States and Europe. Interpretation and enforcement of China’s laws and regulations continue to evolve, and we expect differences in interpretation and enforcement to continue in the foreseeable future. Our manufacturing operations at third-party contractors could be adversely affected by contractual disagreements, by labor unrest, by natural disasters, by regional or global pandemics, by strains on local communications, trade, and other infrastructures, by competition for the available labor pool or manufacturing capacity, by increasing labor and other costs, and by other trade customs and practices that are dissimilar to those in the United States and Europe. Further, we may be exposed to fluctuations in the value of the local currency in the countries in which manufacturing occurs. Future appreciation of these local currencies could increase our component and other raw material costs. In addition, our labor costs could continue to rise as wage rates increase and the available labor pool declines. These conditions could adversely affect our financial results.
AUDIO & WEARABLES Our Audio & Wearables sales increased 57% in Q1, with robust double-digit growth in all categories. Blue Microphones and Retail Headset sales growth remained strong while Jaybird delivered double-digit growth due to the introduction of Jaybird’s latest true wireless earbud, Vista 2, in the quarter.
Passed by their factory in Ipoh this morning and saw production workers (pretty sure they were not admins) walking in. Saw bus kilang too. Glad to see them running even during weekends. Indeed a good news to the shareholders.
1) no factory lockdown (no Covid outbreak, management has done a good job) 2) production running during weekends (huge order book)
0183 SALUTE, SALUTICA BERHAD - + Additional Listing Announcement /Subdivision of Shares 17 Aug 2021, 07:00 Additional Listing Announcement /Subdivision of Shares 1. Details of corporate proposal Whether the corporate proposal involves the issuance of new type and new class of securities? N Types of corporate proposal : Private Placement Details of corporate proposal : PRIVATE PLACEMENT OF UP TO TEN PER CENTUM (10%) OF THE TOTAL NUMBER OF ISSUED SHARES OF SALUTICA BERHAD PURSUANT TO SECTIONS 75 AND 76 OF THE COMPANIES ACT 2016 ("PRIVATE PLACEMENT") No. of shares issued under this corporate proposal : 38,500,000 Issue price per share ($$) : 0.5600 Par Value ($$) (if applicable) : 0.000 Latest issued share capital after the above corporate proposal In the following Units : 426,500,000 Issued Share Capital ($$) : Malaysian Ringgit (MYR) 113,362,368.000 Listing Date : 18/08/2021 Remarks: You are advised to read the entire contents of the announcement or attachment. To read the entire contents of the announcement or attachment, please access the Bursa website at http://www.bursamalaysia.com N202108173000030EN
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