SINARAN 5172 Share Price

The group recorded loss before tax (“LBT”) of RM8.3 million in FYE 2022 as compared to LBT of RM5.8 million in FYE 2021 mainly due to the contraction in revenue for both business segments. Moving ahead, The Group plans to prioritise the growth of its existing sports footwear business by investing in ongoing research and development efforts, as well as marketing activities. The goal is to continually enhance the distribution network, product design and development of this business segment, ensuring the Group maintains a competitive edge and stays up to date with the latest developments in the footwear industry. Additionally, the Group intends to continue hosting its trade fairs, whereby the Group has the opportunity to interact with potential and existing distributors to secure more orders and to obtain market feedback for the Group’s products as well as to obtain relevant update on information on the footwear industry in China.

The Group recorded a loss after tax of RM2.02 million for the three (3) months ended 30 June 2022 as compared to profit after tax of RM0.35 million for the preceding quarter three (3) months ended 31 March 2022. This was mainly due to increase in cost of sales in construction segment resulted reduction in gross profit margin.

The Group recorded a loss after tax of RM0.9 million for the three (3) months ended 31 December 2021 as compared to loss after tax of RM1.4 million for the preceding quarter three (3) months ended 30 September 2021. The increase in loss after tax was mainly resulted from higher gross profit margin and higher revenue in the construction segment.

The Group recorded a pre-tax loss and has been narrowed as compared to the 1Q2021 mainly due to the increase in general administrative expenses.

AT Systematization Bhd will partner ACE Market-listed K-Star Sports Limited to promote, market and sell its production of medical gloves in China and Taiwan. In a filing with Bursa Malaysia, K-Star noted that its extensive base and sales network in China and Taiwan as well as the availability of medical gloves by AT Systematization could form a synergy that benefit both companies. AT Systematization’s subsidiary, AT Glove, will assist K-Star in obtaining any required export or import license or other authorisation necessary for the export from Malaysia to China and Taiwan.

Oriented Media Holdings Ltd emerged as a substantial shareholder in China-based sports footwear and apparel company K-Star Sports Ltd after acquiring 90 million shares or a 19.8% stake. Oriented Media is a subsidiary of Lambo Group Bhd, which runs the e-commerce platform LamboPlace. Meanwhile, Ace Credit (M) Sdn Bhd sold 107 million shares, or a 23.5% stake, in K-Star and ceased to be a shareholder of the company. K-Star announced the appointment of Koo Kien Yoon as an executive director. Koo is also an executive director of Lambo Group, Vsolar Group Bhd and GPA Holdings Bhd.

The Group’s revenue for the 2Q2020 has increased by 21.43% as compared to the immediate preceding quarter. Sales were lower in the 1Q2020 in conjunction with the Chinese New Year festive holiday season and further impacted by the outbreak of Covid-19. In the 2Q2020, the sales of Dixing’s core brand footwear has increased by 36.13% while the OEM segment has decreased by 25.59%.