Page 14 - MFBD 1920_02Mar2020
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Editorial
revenue for the quarter decreased slightly by 0.4% to RM85.85 million from RM86.22 million in the previous corresponding quarter as domestic sales registered a drop of 2%.
For the full-year period (FY18), Hup Seng’s net pro t fell 3.3% to RM42.96 million from RM44.45 million a year ago, with revenue increasing 2.6% to RM307.37 million from RM299.67 million. The group witnessed some margin compression arising from costs pressures amid continued growth in revenue. Nevertheless, the group will continue its efforts to enhance operating ef ciency to mitigate as much as possible the impact of higher input costs. The group will continue to focus in improving performance by innovating products portfolio, broadening the distributor network to safeguard the group’s revenue and pro tability.
Hup Seng said the operating environment over the next six months will see weak domestic growth, uncertainty in global demand and prudent investment in business expansion. Faced with uncertain global and domestic economic prospects, consumers will once again be expected to be more prudent with their spending, leading to weaker sentiment on retail consumption for 2019.
Ajinomoto (Malaysia) Bhd’s net pro t for the second quarter ended September 30, 2018 (2QFY18) fell 6% to RM15.53 million from RM16.52 million a year ago, on the back of higher expenses arising from advertising and increased sales deliveries. This resulted in earnings per share for the quarter falling to 25.55 sen from 27.17 sen last year. For its quarterly revenue, the group recorded 2.1% year-on-year growth to RM117.84 million from RM115.42 million.
The food and seasoning manufacturer said sales volume and revenue in the Consumer Business segment improved during the quarter, mainly led by “Aji-no-moto” retail during the tax holidays before SST implementation. For its industrial business segment, the group said it recorded lower revenue due to
depreciation in US dollar exchange rate in the quarter compared with the previous corresponding quarter. For the cumulative six months ended September 30, 2018, net pro t rose 9.41% to RM26.7 million or 43.92 sen per share from RM24.4 million or 40.14 sen per share. Revenue was marginally up 0.58% to RM213.07 million from RM211.84 million.
Ajinomoto said market conditions are expected to continue to be challenging in view of uncertainties in the global economy and  uctuations in foreign currency. The group will continue to monitor closely sales action plans as well as cost management and at the same time focus on increasing sales and pro ts.
FGV Holdings Bhd recently signed a Memorandum of Understanding (MoU) with South Korea-listed Samyang Foods Co Ltd to establish a halal ramen manufacturing facility in Malaysia for local and global markets. FGV group Chief Executive Of cer Datuk Haris Fadzilah Hassan said the collaboration is part of the group’s strategic direction to expand its downstream business via wholly-owned subsidiary Delima Oil Products Sdn Bhd, by diversifying its product offerings and penetrating new markets. FGV’s logistics and support businesses sector will also bene t from this partnership by providing a total logistics supply chain solution.
Under the MoU, Delima Oil Products can leverage on Samyang Foods’ strong research and development and global distribution networks to improve quality and expand the reach of its Saji products regionally and globally. Delima Oil Products will bene t from Samyang Foods’ experience in the ramen and instant noodle industry to strengthen its own products and brand positioning. The collaboration will also give FGV access to Samyang Foods supply chain, which includes cooking oil, vegetable fats and sugar for their existing ramen plant in Wonju, South Korea. On the other hand, Samyang is excited about the prospect of expanding its line of products to the vast and growing global halal market by collaborating with FGV to tap into its valuable experience in producing high-quality and halal food products.
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