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aws试用账号(www.2km.me)_Sunzen Biotech on track to return to the black

admin2021-11-1422

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Top management: Teo (left) and Ching at the group’s headquarter in Shah Alam. They are very positive about Sunzen’s business outlook.

Sunzen Biotech Bhd is on track to break even this year and aims to achieve profitability in 2022, after incurring losses for three years, according to group managing director and CEO Teo Yek Ming.

Teo tells StarBizWeek that in the near term, the group is optimistic about growing profits for its traditional Chinese medicine, herbal health foods and beverages and bird’s nest segment as well as the recently acquired small and medium enterprise loan financing unit.

It also aimed to break even in its manufacturing and trading of animal health product business.

For the first half of financial year ending Dec 31, 2021 (FY21), Sunzen’s revenue from its animal health product segment increased almost 10% year-on-year (y-o-y) to RM7.37mil.

The ACE Market-listed group, which is headquartered in Kota Kemuning, Shah Alam, saw revenue from its traditional Chinese medicine segment for the first half of FY21 jumped 138% to RM36.1mil, due to higher sales orders for contract manufacturing.

Its animal health product and trading of crude palm oil (CPO) product segments reported lower losses, while the traditional Chinese medicine segment posted a pre-tax profit of RM1.9mil compared with a pre-tax loss of RM1.6mil a year ago.

In a filing with Bursa Malaysia recently, the group said higher commodity prices resulting in rising livestock feed prices, complemented by controlled selling prices of certain livestock, have resulted in breeders implementing cost-cutting measures on nutritional products.

“Hopefully, our health product segment can break even soon. It is affected by the hike in commodity prices and there is only so much extra costs that can be passed on to our customers, who can slow down or stop their purchases,” says Teo.

For the first half of FY21, Sunzen posted a 29.35% y-o-y rise in revenue to RM44mil, while net loss narrowed to RM40,000 (from a RM4.26mil net loss a year ago).

The better results in the first half of FY21 were also partly due to a gain on disposal of property, plant and equipment of RM952,000.

The group told Bursa Malaysia recently that its asset rationalisation measures included the disposal of non-core properties such as a three-storey factory building on a freehold industrial land in Kota Kemuning, Shah Alam, on April 21, 2021.

This has enabled a cost saving of RM600,000 per annum arising from term-loan interest and operating costs.

Other cost-cutting exercises included discontinuing the operations of eight of its traditional Chinese medicine segment’s retail outlets (one outlet each in Johor Baru, Ampang, Bukit Mertajam, Kepong and Kedah and three outlets in Penang).

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