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Dear
Shareholders,
I am pleased to report that our Group has recorded a profit
position for two consecutive years. The Group’s net profit
increased significantly from S$0.3 million in FY2006 to S$2.2
million in FY2007. Earning per share rose from 0.37 cents in
FY2006 to 2.10 cents in FY2007.
We had devoted considerable efforts to improve our cost control,
optimization in capital utilization and productivity in FY2007.
Our production orders in Malaysia had increased significantly
due to the implementation of strategic initiatives to strengthen
relationship with our major customers. Our Group had further
strengthened our automotive capabilities in our Thailand plant
to support the production requirements of our customers.
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Outlook
As competition in
the metal stamping industry intensifies, we expect operating
business conditions such as continuing pricing pressures to
remain challenging. Our Group will strive to gain cost
effectiveness internally through better utilization of
manufacturing capacity and management of raw materials usage.
Overall, I am optimistic that our Group will remain profitable
for the financial year ending 30 June 2008.
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Appreciation
I would like to take this
opportunity to thank team members throughout our Group for your
dedication, drive and support. I would also like to extend my
appreciation to customers, bankers, suppliers, business
partners, and shareholders for your faith and continued support.
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Ip Kwok Wing
Executive Chairman
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