NEXGBINA 7154 Share Price

The loss before taxation of RM9.49 million was primarily stemmed from lower sales of the manufacturing segments and the allowance for impairment losses provided for property development cost of RM7.82 million and finished goods of RM0.34 million in the property development and construction segment respectively. Looking ahead, recognising the persistent challenges in both the manufacturing and property development sectors, the Board remains committed to diligent management. The Board’s approach will prioritise prudence and costefficiency in all ventures. Additionally, the Board is dedicated to closely monitoring the property market, attuned to evolving customer preferences, as well as supply and demand conditions.

The Group reduced its net loss to RM7.2 million in the current financial period, representing a significant improved of 45.96% year-on-year as compared to RM13.3 million incurred in the previous financial year. Overall, the improved performance was primarily attributed to lower provision of impairment amounting to RM12.3 million on property development cost. For labour intensive Manufacturing segment, Caely Group will strive to improve the manufacturing efficiency and remain competitive by engaging more overseas sub-contractors particularly in Myanmar, Bangladesh and Indonesia, in effort to mitigate the rising labour cost and also advantage of export incentives granted by importing countries. On the other hand, Caely Group will continue to look for new buyers overseas to expand the revenue base by promoting Caely Group’s latest designs and quality of the ladies’ undergarments products. For the Direct Selling and Retail segment, the revenue contribution remains sluggish and will continue to focus on improving trading revenue

Caely Holdings Bhd’s shares were hotly traded in early trade Monday with some 70 million shares done, making it the most actively traded counter. The women intimate apparel manufacturer jumped 19.35%, or nine sen to 55.5 sen. Year-to-date, the counter has risen some 19.5%. In an earlier announcement, Caely will make fabric protective masks and personal protective equipment (PPE) for NiHsin Resources Bhd.

The Group reported lower revenue of RM18.24 million, a RM7.06 million decline in sales as compared to RM25.30 million from the corresponding preceding quarter. The drop in revenue was mainly affected by the adverse global economy situation and Covid-19 pandemic which has caused sharp decline of demand in manufacturing segment during the quarter.