Ta Win Holdings Berhad marked a turnaround in its second quarter ended 31 December 2021, returning to the black with a profit after tax (PAT) of RM6 million compared with a deficit of RM1.6 million in the previous year’s corresponding quarter, while profit before tax (PBT) grew to RM6.4 million. These positive results were achieved on the back of an improved revenue of RM172.5 million.
The integrated Malaysian manufacturer of copper products recorded a higher PAT of RM2.1 million, while PBT rose to RM2.6 million. Revenue for the six-month period grew to RM239.3 million, for the first half of the financial year ended 31 December 2021.
“This is a significant achievement for the Group, more so during the challenges of the pandemic. Our improved performance was mainly driven by higher production and sales volume, with manufacturing operations resuming as Movement Control Order restrictions eased, enabling the Group to fulfil outstanding orders. This was further supported by increasing copper price, with LME price ranging from USD9,234.07 to USD9,550.31 per tonne during the six-month period, compared with USD6,353.76 to USD7,755.24 per tonne in the same period last year,” Tieng Ngu, Group Managing Director of Ta Win Holdings Berhad, commented.
“We also recorded stronger margins from our subsidiaries, Cyprium Wire Technology Sdn Bhd (CWT) and Sin Line Tek Electronic Co Sdn Bhd (Sin Line Tek), contributing to our profitability. This indeed reflects that our strategic plans to expand further along the value chain into the downstream copper business while continuing to build up our base business of the production of copper rods and wires is indeed bearing fruit,” he added.
“The construction of our new manufacturing facility in Pulau Indah, Klang, is on track for commercial trial run by mid-calendar year 2022. This will enable us to cater for growing demand for copper products over the long-term. CWT’s electron beam irradiation plant is also progressing well and we target to commence trial run by the fourth quarter of our current financial year (Q4 FY2022), equipping the Group with the capacity to produce irradiation cross-linked wire and cable products for the global electric vehicle supply chain,’ Tieng Ngu said.
“Sin Line Tek is also enhancing capacity and increasing research and development efforts to offer new products for the electrical and electronic sectors, in addition to exploring opportunities to supply products to the automotive industry. Meanwhile, our associate company Royce Pharma which specialises in manufacturing and supply of pharmaceutical products as well as medical disposables, equipment and devices has increased its production capacity to fulfil government hospital contracts, and is seeking out more collaborative efforts with industry participants,” he concluded.
