Annual Report

Annual Report 2016

This financial year tested the resilience of the Group as the operating conditions were challenging. The overall macro conditions have not improved and the level of uncertainties have impacted the operations of key operating units.

Despite the difficult operating environment, the financial year under review continued to produce commendable results for the Group.

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Annual Report 2015

This financial year marked the successful transformation of key operating companies into a profitable Group with multiple revenue drivers. The strategy that the Group has embarked on since the end of 2013 has borne fruit for its shareholders.

The period under review has produced commendable results from the key operating companies within the Group.

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Annual Report 2014

Annual Report 2014

This is a 16-month reporting period due to a change in the financial year end from 30 April to 31 August. The change was made to facilitate major transformation exercises that has propelled the Group to greater heights.

This financial period was a very exciting and interesting time where we saw the emergence of new shareholders and a new management team to spearhead the Group’s transformation programme which involves our diversification into high growth and profitable sectors like the civil engineering and construction, mining and oil and gas industries. These new businesses have started to provide significant revenue and earning streams for the Group.

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Annual Report 2013

Annual Report 2013

During the financial year under review, the Group registered revenue of RM87 million, representing an increase of 3% as compared to RM85 million in the preceding year. The growth was driven primarily by higher sales volume from our trading activities in the domestic market. The Group’s profit before tax increased from RM1.3 million in the preceding year, to RM2.8 million in the financial year under review. This increase in the Group’s profit before tax was mainly attributed to a gain from the disposal of property of RM3.6 million. Overall the financial performance of the Group was negatively impacted by volatile steel prices, higher cost of sales and operating expenses.

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Annual Report 2012

Annual Report 2012

The Group achieved a revenue of RM85 million for the financial year ended 30th April 2012. Revenue increased by 16% from RM73 million the previous year. The growth was driven primarily by higher sales volume from our trading activities. Despite recording an increase in revenue, the Group’s profit before tax saw a drop from RM1.6 million in the preceding year, to RM1.3 million in the financial year under review. The decline in the Group’s profit before tax was mainly attributed to the inherently low margins coupled with higher cost of sales despite continuous improvement in production efficiency. The decline in the net margins was primarily due to the volatility of steel prices and higher operating, administrative and finance expenses during the year under review.

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Annual Report 2011

Annual Report 2011

The Group posted revenues of RM73 million in the financial year under review, a slight decrease of 2.2% compared to the preceding year. Despite recording approximately the same sales volume for the two comparative periods, the Group’s net profit after tax saw a drop from RM2.2 million in the preceding year, to RM1.2 million in the financial year under review. The drop in the Group’s profit after tax was mainly attributed to the inherently low margins coupled with higher cost of sales despite continuous improvement in production efficiency. The decline in the Group’s revenue can also be attributed to intense competition, softening demand and heightened cost inflation.

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Annual Report 2010

Annual Report 2010

For the year ended 30 April 2010, the Company achieved a revenue of RM75.0 million and profit after tax of RM2.24 million as compared to a revenue of RM91.8 million and profit after taxation of RM1.7 million for FY2009. This represents a reduction of revenue by 18.4% and an increase in profit after tax by 30.4%. Included in the preceding year was a write down in the value of inventories which amounted to RM4.6 millionThe lower revenue recorded during the year was mainly due to higher inventory costs, weaker demand and lower margins for the Group’s steel products all of which were adversely affected by the global financial crisis.

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