29 8 月, 2022

Leon Fuat Berhad Posts 35.8% Increase in Q2 Revenue to RM250.93 Million

SHAH ALAM, Malaysia, Aug 29, 2022 - (ACN Newswire via SEAPRWire.com) - Leon Fuat Berhad, a manufacturer and trader of steel products specialising in rolled long and flat steel, today reported a 35.8% increase in revenue to RM250.93 million for the second quarter ended 30 June 2022 (Q2FY2022) compared with RM184.78 million recorded in the corresponding quarter of the preceding financial year (Q2FY2021).Calvin Ooi Shang How, Executive Director of Leon FuatThe Group recorded profit before tax (PBT) of RM18.04 million for Q2FY2022, a 57.6% decrease from RM42.57 million registered in Q2FY2021 while recording profit after tax (PAT) of RM14.02 million, which is a 56.3% decrease from RM32.12 million reported in the corresponding quarter of the preceding financial year.For the quarter under review, the trading segment contributed 38.4% to revenue while the processing segment contributed 61.5%.For the six months ended 30 June 2022 (1H 2022), Leon Fuat registered a 32.2% increase in revenue to RM523.95 million compared with RM396.26 million recorded in the six months ended 30 June 2021 (1H 2021). For the period under review, the Company reported PBT of RM49.85 million, a 41.4% decrease from RM85.10 million recorded in 1H 2021 while for 1H 2022, PAT decreased 44.4% to RM37.91 million compared with RM68.23 million recorded in 1H 2021.Calvin Ooi Shang How, Executive Director of Leon Fuat said, "We saw higher overall revenue on the increased contributions from the trading and processing of steel products, but a combination of lower overall gross profit margin and inventories written down of RM13.88 million in the current quarter as certain inventories were measured at its estimated net realisable value weighed on PBT.""The outlook for the global economy remains volatile on a combination of China's slowdown, the Russia-Ukraine war and tighter monetary policy in response to inflation. While the domestic economy has so far weathered the challenges on a combination of resilient exports and private consumption, uncertainties remain because of the potential risks from supply-chain disruptions and rising commodity prices leading to inflationary pressure.""We are more neutral as to the prospects for the remaining quarters of the year given these challenges especially with the softening of steel prices and the weaker ringgit. We have increased monitoring of steel prices and related currencies and continue to take proactive measures including negotiating forward contracts, where necessary, as well as prudent inventory management, to reduce any negative impact which may arise. The Group will strive to keep operating costs at manageable levels while enhancing operating capabilities and efficiencies to meet customer requirements and to ensure timely satisfaction of customer orders."Leon Fuat Berhad: [BURSA: LEFU] , https://www.leonfuat.com.my/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

30 6 月, 2022

Leon Fuat Berhad Shareholders Vote to Pass All Resolutions at AGM

Shareholders also approved a final single-tier dividend of 2.0 sen per share for FY2021 SHAH ALAM, Malaysia, June 28, 2022 – (ACN Newswire) – Leon Fuat Berhad, a manufacturer and trader of steel products, specialising in rolled long and flat steel products, is pleased to announce that shareholders have passed all resolutions at the Group’s 15th AGM held today. Mr. Calvin Ooi Shang How, Executive Director of Leon Fuat Shareholders passed a resolution approving a final single tier dividend of 2.0 sen per share for the financial year ended 31 December 2021 (FY2021). Shareholders also voted to re-elect Dato’ Sri Ooi Bin Keong, Mr. Tan Did Heng, Mr. Tan Sack Sen and Dato Lim Cheng Poh as directors as well as to retain Mr. Chan Kee Loin as an independent director. Also retained as independent directors were Did Heng and Sack Sen. Among the other resolutions up for voting, shareholders reappointed Baker Tilly Monteiro Heng PLT as the Group’s auditors and authorised the directors to fix the remuneration of the auditors. Mr. Calvin Ooi Shang How, Executive Director of Leon Fuat said, “We are happy to meet our shareholders again in a physical setting for the 15th AGM after having held the previous AGM virtually. We would like to thank shareholders for their trust and confidence in us as we navigated a challenging FY2021. Our financial performance for the first quarter ended 31 March 2022 was satisfactory despite the decrease in overall gross profit margin.” “We are cautiously optimistic of achieving profitable results for the remaining quarters of FY2022 but would like to point out that the outlook has dimmed considerably with the World Bank having cut global economic growth outlook to 2.9% for this year from the 4.1% growth outlook it had forecast in January 2022. To mitigate risks, the Group will continue to monitor steel prices closely as well as related foreign currencies. We will also take proactive measures such as anticipating price and currency volatility through negotiating forward contracts as well as prudent inventory management.” Leon Fuat Berhad: [BURSA: LEFU] , https://www.leonfuat.com.my/

29 11 月, 2021

Leon Fuat Berhad Posts 470% Rise in Quarterly PAT

SHAH ALAM, Malaysia, Nov 29, 2021 - (ACN Newswire via SEAPRWire.com) - Leon Fuat Berhad (Leon Fuat), a manufacturer and trader of steel products, specialising in rolled long and flat products, is pleased to announce today that the Group recorded a 470.4% gain in profit after tax (PAT) to RM38.66 million for the third quarter ended 30 September 2021 (Q3FY2021) compared with RM6.78 million in the corresponding quarter of the preceding year (Q3FY2020).Calvin Ooi Shang How, Executive Director of Leon FuatFor the quarter under review, the Company registered a 44.1% increase in revenue to RM236.11 million compared with RM163.82 million in Q3FY2020 while profit before tax (PBT) recorded a 447.0% gain to RM49.14 million compared with RM8.98 million in Q3FY2020.On a segmental basis, revenue from trading of steel products increased by 65.7% to RM94.81 million while revenue from the processing of steel products increased by 32.6% to RM141.22 million. The trading segment's contribution to revenue stood at 40.2% in Q3FY2021 compared with 34.9% in Q3FY2020 while the processing segment's contribution to revenue stood at 59.8% compared with 65.0% in Q3FY2020.For the nine months ended 30 September 2021 (9M2021), PAT grew 918.5% to RM106.89 million compared with RM10.50 million registered in the corresponding period of the preceding financial year (9M2020). PBT increased by 815.2% to RM134.24 million compared with RM14.67 million recorded in 9M2020 while revenue rose 61.9% to RM632.37 million compared with RM390.61 million recorded in 9M2020.Calvin Ooi Shang How, Executive Director of Leon Fuat said, "Generally, our business was not severely affected by the movement restrictions in 9M2021 while higher overall revenue together with higher gross profit margins supported our financial performance. However, we note that while there is potential rebound in domestic economic activities that will lead to recovery in the coming quarter, we will manage the continuing risks from supply disruptions persistently amid a resurgence in COVID-19 infections in certain economies.""We are taking proactive measures to ensure business continuity and sustainability given the volatile business landscape. These measures include keeping vigilant on steel price movements and related foreign currencies, taking proactive measures including negotiating forward contracts, where necessary, as well as prudent inventory management while continuously enhancing the operating capabilities and efficiencies to meet customers' requirements and keeping our operating costs at a manageable level."About Leon FuatLeon Fuat Berhad ('Leon Fuat' or the 'Group') primarily in the business of trading, processing and/or manufacturing (collectively referred to as "processing") of steel products, specialising in rolled long and flat products.The Group's trading activities consist of a wide portfolio of steel products, which includes flat products such as coils, plates, sheets, welded tubes, and pipes, welded rectangular and square sections, and long products such as bars, rods, shafts, sections, angles, channels and seamless tubes and pipes.The Group's processing business is synergistic to the trading operations. As part of the Group's value-added activities, Leon Fuat undertakes processing activities in the form of cutting, leveling, shearing, profiling, bending, finishing and production of welded steel pipe and expanded metal.As an established name, Leon Fuat has a strong portfolio of customers of more than 3,000 and have a long-standing relationship with customers.For more information, please visit www.leonfuat.com.my.Issued by: Swan Consultancy on behalf of Leon Fuat BerhadDate: 29 November 2021Please contact the below for more information:Hakim JuraimiTel: +60 12-318 5410Email: h.juraimi@swanconsultancy.bizKahjin GanTel: +60 16-555 5187Email: kj.gan@swanconsultancy.biz Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

18 6 月, 2021

Leon Fuat Berhad Shareholders Pass Resolution to Acquire Factory for Rm28.0 Million

SHAH ALAM, Malaysia, Jun 18, 2021 - (ACN Newswire via SEAPRWire.com) - Leon Fuat Berhad ("Leon Fuat"), a manufacturer and trader of steel products, specialising in rolled long and flat products, is pleased to announce today that all the resolutions of the Group's 14th AGM and EGM for the financial year ended 31 December 2021 has been passed by shareholders at a virtual meeting.Leon Fuat Executive Director, Mr. Calvin OoiShareholders passed a resolution for Supreme Steelmakers Sdn Bhd, a wholly-owned subsidiary of the Group, to acquire a factory, warehouse and office on a parcel of freehold land in Kajang, Selangor for RM28.0 million from Leon Fuat Holdings Sdn Bhd, a privately-held company in which several directors and major shareholders have interests in.Other resolutions passed included the re-elections of Mr. Ng Kok Teong and Mr. Ooi Shang How, who were both due for retirement, as executive directors of the Group's board of directors. Shareholders also re-elected as well as retained Mr. Chan Kee Loin as an independent director while Dato Ng Ah Hock @ Ng Soon Por, Mr. Tan Did Heng and Mr. Tan Sack Sen were also retained as independent directors of the board.Among the other resolutions up for voting, shareholders reappointed Baker Tilly Monteiro Heng PLT as the Group's auditors and authorised the directors to fix the remuneration of the auditors.Executive Director of Leon Fuat, Mr. Calvin Ooi said, "We are pleased that the 14th AGM and EGM went smoothly on the virtual platform. Shareholders were delighted with our performance for 2020 despite the challenges posed to the operating environment. We believe that the Group can sustain the business based on the satisfactory performance of the first quarter ended 31 March 2021.""However, we continue to be cautious given that COVID-19 infection rates remain high and cannot rule out a possible slowdown in activities from the industries that may lead to a drop in demand for steel products. We continue to take proactive measures such as negotiating forward contracts, prudent inventory management and cost-management to mitigate any negative impact while monitoring steel prices and related foreign currencies."Please contact below for more information:Hakim JuraimiTel: +60 12-318 5410Email: h.juraimi@swanconsultancy.biz Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

1 4 月, 2021

China Leon Announces 2020 Annual Results, Net Profit Surge for Approx. 160%

HONG KONG, Apr 1, 2021 - (ACN Newswire via SEAPRWire.com) - China Leon Inspection Holding Limited ("China Leon" or "the Company"; Stock Code: 1586.HK) today announced its audited 2020 annual results for the year ended 31 December of 2020 ("Reporting Period"). Revenue during the review period was approximately RMB 574.0 million, an increase of 44.8% from approximately RMB 396.5 million in 2019. Profit for the year was approximately RMB 74.9 million, an increase of 160.3% from approximately RMB 28.8 million in 2019. Basic earnings per share was approximately RMB12.59 cents (2019: RMB6.04 cents). The board of directors recommended a final dividend of RMB 0.0375 per share.The sound performance during the reporting period was mainly due to benefited from the support by China's national macro policies and the improving market demand amid the global public health event as well as the complex and volatile macroeconomic environment in 2020 and the management of the group focused on high-quality development, carried out the concept of platform construction throughout the work, accurately grasped the market trends in each segment, deployed strategic advantages in areas, and continued to improve the quality and efficiency of the group's operations and steadily enhanced its comprehensive competitiveness and brand influence.Mr. Yang Rongbing, Vice Chairman and Executive Director of China Leon, said: "In 2020, China and Singapore, our major business markets, were the first to restore normal production and operation ,because they had introduced effective prevention and control measures, so that the overall business of the Company was growing well, with continuous increase in all businesses. Besides, We explored the in-depth needs of our customers, overcame the obstacles due to the pandemic, strove to improve the service quality and expanded more business in the onsite inspection, technology consultation and training sectors. As a result, we won praise from our customers, and our business undertaking capability was raised rapidly, which indicated that we were already on a rapid development track and that we successfully attained the initial strategic development goal set for the energy inspection industry."Continuous enhancement of brand influence and credibilityThe Company has obtained CMA "Qualification Certificate of Inspection and Testing Agency" issued by the Certification and Accreditation Administration of the People's Republic of China and the CNAS "Laboratory Accreditation Certificate" issued by the China National Accreditation Service for Conformity Assessment. In overseas, it has obtained ISO17025, ISO17020 and ISO14001 certifications. The Company has reached the standards for internationally recognized testing and inspection agencies and other authoritative standards in terms of professional capabilities, and we employ a comprehensive quality management system to govern quality control and operating procedures for stringently controlling the quality of services. The Company has been granted full membership of China Entry & Exit Inspection and Quarantine Association and Chinese Certification and Accreditation Association, and rated as a contract-abiding and trustworthy company for a number of years in a row. We are a full member of TIC Council (a merger of IFIA and CEOC). The recognition of all of these qualifications assures that our inspection reports are more internationally credible.Diversified customer structureOn the basis of maintaining stable and good partnership with key customers such as CHN Energy, Shaanxi Coal Group, China Coal Group, Yitai Group, Datang Group, China Resources Group, CNPC, SINOPEC, CNOOC, ChemChina, SinoChem, Shell, BP, Exxon-Mobil, Chevron, Total, Saudi Aramco, ENOC and Rosneft, etc., the Group engaged newly customers in new energy, such as Goldwind Science & Technology, SANY Heavy Industry, China Huadian Corporation, China General Certification Center and Tianjin Zhonghai Engineering Management Consulting Co., Ltd.. During the reporting period, we were expanding more regional customers and carrying out centralized marketing in specific industries, like the cement, iron and steel and papermaking industries as well as chemical factory, which further expanded our quality customer base.Continuous strong growth in energy inspection businessIn 2018, the Company acquired Saybolt (Tianjin) Metrology & Inspection Co., Ltd. and Leon Overseas (Hong Kong) Limited (formerly known as Core Laboratories (Hong Kong) Limited), and then . Saybolt (Singapore) Pte Ltd ("Saybolt (Singapore)") in 2019, which marked two major milestones for the Group in terms of globalization and business diversification, and enabled the Group to successfully venture into the petroleum business in the Asia-Pacific Region and extended its services, such as technical testing and inspection as well as analysis services (including product and service certification) for oil, natural gas, chemicals and fuel bulk cargoes, to cover Singapore and the surrounding areas, thus broadening its business scope. The comprehensive and systematic output management enabled us to expand the effectiveness of our M&A assets, grow our business capabilities rapidly and enter a positive payback period, thus resulting in a significant increase in the Group's overall operating income. The volume the Group's oil business segment increased significantly during the year, thanks to the increase in the volume of oil trade transhipped from Europe and the Middle East via Singapore to Southeast Asia. Meanwhile, the coal testing segment of the Company continued to grow steadily, with a gradual increase in its market share and new highs in various core indicators such as number of certificates issued and overall business revenue. Looking ahead, Mr. Yang Rongbing, Vice Chairman and Executive Director of China Leon, said "2021 marks the start of the "14th Fifth Year" of the country and is also a special year in the process of China's modernization. China Leon actively responds to the development strategy of the country to seek progress while ensuring stability. Based on the achievement in M&A operation over the past three years, the Company firmly implements the 2+X strategy, which, the number "2" of the 2+X strategy represents coal and oil product inspection, the two existing business pillars of the Group, as well as the further development in the field of energy and commodities inspection and testing; while the "X" represents the expected areas and room for future growth of the Group, focusing on renewable energy and other ESG related fields with long-term sustainable growth potential. Based on the principle of developing the "X" business in chronological order and on the solid market position in the field of commodities and energy, the Company will aggressively expand the following three major TIC sectors: (i) new energy inspection and testing; (ii) regular TIC inspection and testing; and (iii) new industry inspection and testing." About China Leon Inspection Holding LimitedChina Leon Inspection Holding Limited is China's first international third-party independent testing organization listed on the main board of Hong Kong Stock Exchange (stock code: HK1586). The Group has in nearly 30 branches and professional laboratories in multiple countries and regions across the globe, dedicated to providing professional testing and authenticating services for global clients. Chine Leon provides services on inspection, testing, measurement and authentication for over 5,000 global clients in energy and commodity fields, including coal, petroleum, petrochemical, electricity, and bulk minerals, covering major trading hubs in China and the Asia Pacific region at large. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)

31 3 月, 2021

Motul and Honda Racing Corporation Aim for the Top in World Super Bike Partnership

Singapore, Mar 31, 2021 - (ACN Newswire) - One of Motul's longest-standing and most valued OEM partners is Honda, and the two companies have developed and enjoyed over many decades a dedicated technical collaboration and proud support of Honda's HRC factory racing teams in many different motorsport arenas. At the start of 2020 Honda returned to the Motul FIM World Superbike Championship (WorldSBK) as a full factory squad. Team HRC Riders Alvaro Bautista (L) and Leon Haslam (R) & Team HRC Manager Leon Camier (C) Team HRC Rider Alvaro Bautista #19 Team HRC Rider Leon Haslam #91 Team HRC Alvaro Bautista #19 Pre-Season Test Team HRC Leon Haslam #91 Pre-Season TestNow, for the 2021 season, Team HRC and its two riders, Alvaro Bautista and Leon Haslam, will benefit further from Motul's support as Official Lubricant Partner. Having made great steps forward with every race in 2020, there is only one aim for this season: the top!A partnership with strength in depthThe trust and deeply cooperative working relationship that has developed over the years has seen Motul contribute to the performance, reliability and efficiency of HRC's competition models over all terrains including circuits, off-road and desert. The strength of this partnership has resulted in multiple victories in many different championships, most notably three wins for HRC at the Dakar Rally - the first being in 1989 and the most recent being this year, 2021. It has also led to several championship titles with Team HRC in MXGP including 2019 and 2020 in the hands of their super-dominant star rider Tim Gajser.Smoothing the way with MotulTogether with Motul, Team HRC has been continuing development of the CBR1000RR-RR FIREBLADE, with continual feedback to engineers in Japan. Among Motul's international R & D centers is one in Japan whose engineers collaborate with HRC's engine development department on a range of different projects including the development of high-tech synthetic lubricants. Principal among these is the tailor-made Motul 300V Factory Line Racing Kit Oil 2376H 0W-30 fully synthetic engine oil which will be used alongside the Motocool Factory Line and MC CARE range of products.The viscosity grade 0W-30, 100% synthetic lubricant yields a low traction coefficient thanks to the EsterCore technology, generating a friction reduction and therefore providing a significant gain in engine power.Nicolas Zaugg, Motul Chief Value Officer: "We are delighted to be extending our great working relationship with Honda and HRC to WorldSBK. The collaborative vision and technological partnership we have developed together is the perfect example of Motul's living laboratory philosophy-developing and testing experimental products in a racing application before offering them for sale to a wider customer base. It's a win-win deal as far as we are concerned."Tetsuhiro Kuwata, HRC Director - General Manager Race Operations Management Division: "We are pleased to announce Motul as Official Sponsor of our factory Team HRC in the highly competitive 2021 FIM Motul Superbike World Championship, thereby extending the relationship between our brands and further strengthening what is a very important project for us, with our CBR1000RR-R FIREBLADE SP. Honda and Motul each boast a long and successful history in high-level motorsport competition around the world, both brands being driven by the constant pursuit of victory and by the strong belief that the racing arena is the ideal setting in which to grow our human capital and develop our know-how and technology. In doing so, we offer our customers the best possible products, while bringing joy and excitement to our fans around the world. We are living in a time of great challenges, but we are ready to fight to achieve our mutual goals, which we will pursue with determination, positivity, and confidence in the future."About MotulMotul is a world-class French company specialised in the formulation, production and distribution of high-tech engine lubricants (two-wheelers, cars and other vehicles) as well as lubricants for industry via its Motul Tech activity.Unanimously recognised for more than 150 years for the quality of its products, innovation capacity and involvement in the field of competition, Motul is also recognised as a specialist in synthetic lubricants. As early as 1971, Motul was the first lubricant manufacturer to pioneer the formulation of a 100% synthetic lubricant, issued from the aeronautical industry, making use of esters technology: 300V lubricant.Motul is a partner to many manufacturers and racing teams in order to further their technological development in motorsports. It has invested in many international competitions as an official supplier for teams in: Road racing, Trials, Enduro, Endurance, Superbike, Supercross, Rallycross, World GT1, 24 Hours of Le Mans (cars and motorcycles), 24 Hours of Spa, Le Mans Series, Andros Trophy, Paris-Dakar, 8 Hours of Suzuka, Bol d'Or, Daytona 200-mile motorcycle race.MOTUL Asia Pacific Pte. Ltd1A International Business Park, #06-03Singapore 609933www.motul.com