VS Prospects Bolstered By Strong Demand

Electronics Manufacturing Services (“EMS”) provider in Malaysia, V.S. Industry Bhd (“VS” or the “Group”) has concluded its 39th Annual General Meeting (“AGM”) today.

Speaking after the AGM, Managing Director of VS, Datuk S.Y. Gan said“FY2021 was an exceptional year for us as the Group delivered its highest-ever net profit of RM245.4 million against the backdrop of a very challenging environment.

I would like to take this opportunity to express my appreciation to our team at VS for their commitment and immense effort, which enabled us to achieve this breakthrough. At the same time, my gratitude goes to all our shareholders as well for their unwavering support over the past many years.”

“On the demand outlook, the orders from our customers continue to be robust. We are pleased to share that the Group has recently secured new orders from our existing key customers.

 With the strong order flow to sustain into the near future, we have allocated approximately RM150 million in capital expenditure to expand and enhance our capacity and capabilities. The Group has in November 2021 spent RM30.0 million acquiring 3 parcels of adjacent land measuring 386,381 sf. or 8.9 acres in Senai, Johor for future capacity expansion.”

“Looking ahead, our focal point remains on providing top quality delivery on a timely basis to our customers while maintaining the standard of excellence in our execution. Simultaneously, given the Group’s cognizance of the high importance of ESG (Environmental, Social, Governance) matters, we are investing further efforts and resources to strengthen our ESG initiatives. All in all, we are cautiously optimistic about our prospects premised upon the abovementioned factors, while mindful of the challenges. As always, we shall strive to deliver to the best of our ability,” Datuk S.Y. Gan further added. In FY2021, VS has resumed its quarterly dividend payout practice. Total dividend in FY2021 shall amount to approximately RM113.8 million, representing a 46.4% payout based on a net profit of RM245.4 million. The Group has a dividend policy of a 40% payout of net profit.

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