The leading Electronics Manufacturing Services (EMS) provider in Malaysia, V.S. Industry has concluded its 40th Annual General Meeting (AGM) today.
“FY2022 was certainly a demanding year as it was fraught with multitude of challenges from the effects of a prolonged pandemic as well as the global macroeconomic issues. Nevertheless, we are pleased to have navigated through these taxing business operating conditions and delivered a commendable performance,” Managing Director of VS, Datuk S.Y. Gan commented.
“Looking ahead, while the elevated market uncertainties are expected to persist, we remain steadfast and focused on growing our business.”
“Meanwhile, for our local operations the order flow from customers continues to be satisfactory. For the new financial year (FY2023), we target to deploy around RM80 million for capital expenditure to expand and enhance our capacity and capabilities.”
“Over in Indonesia, we anticipate better contribution this year as a customer is increasing its orders.”
“At the Group level, we will continue to channel resources to further strengthen our initiatives on the ESG (Environmental, Social, Governance) front,” he added.
“On balance, we are cautiously optimistic on VS’ outlook and opines that the financial performance of the Group in FY2023 to be satisfactory,” Datuk S.Y. Gan remarked.
In FY2022, the Group continued with its quarterly dividend payout practice. Total dividend per share amounted to 2.00 sen, representing a 45.8% payout based on FY2022’s earnings per share of 4.37 sen. The Group has a dividend policy of 40% payout of net profit.