Yew Lee Posts RM6.1 Million Revenue in 3Q ACN Newswire

Yew Lee Posts RM6.1 Million Revenue in 3Q

KUALA LUMPUR, Nov 30, 2022 - (ACN Newswire via SEAPRWire.com) - Yew Lee Pacific Group Berhad, a manufacturer of industrial brushes as well as trading of industrial hardware and machinery parts, today announced that the Group recorded revenue of RM6.10 million for the third quarter ended 30 September 2022 (3Q FY2022).Managing Director of Yew Lee, Mr. Ang Lee LeongThere are no comparisons on a year-over-year basis as the Group was listed on the ACE Market of Bursa Malaysia Securities Berhad on 7 June 2022.For the quarter under review, Yew Lee reported gross profit of RM2.12 million while registering profit before tax (PBT) of RM0.96 million and profit after tax of RM0.76 million. For the nine-month period ended 30 September 2022 (9M 2022), the Group registered RM24.35 million in revenue while recording a profit before tax of RM0.39 million and a loss after tax of RM0.41 million.Manufacturing activities contributed RM3.84 million to total revenue while trading activities contributed RM2.27 million in 3Q FY2022.Managing Director of Yew Lee, Mr. Ang Lee Leong said, "We continue to sustain and generate profit from our operations. It is worth noting that stripping the one-off listing expenses of RM2.70 million, the Group would have reported a 9M 2022 PBT of RM3.0 million."The Group's immediate plans is to reduce its dependency on the rubber glove industry by seeking opportunities in the semiconductor, timber, glass and agriculture industries. We are encouraged by the political stability from the appointment of a new Prime Minister, and we hope that the new government will be supportive of the economy with sound policies and measures.""Besides diversifying our customer base, which will take time, the Group is also improving its manufacturing efficiency and automating manufacturing processes by acquiring additional automated machinery and equipment to support the long-term growth of the business. We are also expanding the trading of industrial hardware and machinery parts especially in the central and southern regions of Peninsular Malaysia and, expanding to more markets overseas."The Group's overseas markets include Thailand, Vietnam, Indonesia and Taiwan, which contributed about a quarter to total revenue in the financial year ended 31 December 2021.Yew Lee Pacific Group Bhd: 0248 [BURSA: YEWLEE], https://yewlee.com.my/ Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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Indonesia Market Poised for Big Growth in Streaming ACN Newswire

Indonesia Market Poised for Big Growth in Streaming

JAKARTA, Oct 11, 2022 - (ACN Newswire via SEAPRWire.com) - For the first time in three years the Asia Video Industry Association (AVIA) returned to Jakarta to host Indonesia in View 2022, an event that welcomed some of the industry's biggest players for a day of discussions dissecting the opportunities for growth in this expansive market.Opening comments were made by Yuliandre Darwis, Commissioner with the Indonesian Broadcasting Commission (KPI) who talked about the development of the KPI over the last twenty years, and the hope for revisions to the broadcasting law which could see greater responsibilities given to them.Highlights of the Indonesia in View Report, to be published by AVIA, were given by Bettina Cavenagh, President Director, Clarity Research Indonesia, outlining the state of Indonesia's video markets in the post-pandemic economy. Pay television had plateaued and while DTH services were the biggest victims of increased broadband penetration, cable numbers were increasing meaning the overall pay TV market remained significant, even if ARPU's were under pressure. But all eyes were now on the premium OTT market. Subscription Video on Demand (SVOD) has grown by more than 50% from 2020 to 2021, to 11.5M subscribers, while digital advertising grew by 33% over the same period. This set the scene for much debate throughout the conference on the relative merits of the subscription versus the advertising led business model for OTT.In a conversation around growth and monetization, Hermawan Sutanto, COO of Vidio talked of the need to educate the market to pay for premium OTT services and Guntur Siboro, Country Head for Lionsgate Play further made the point that ad supported VOD (AVOD) was a different ballgame which required significant investment to monetise successfully. Whatever the business model, Avijit Duta, Deputy Country Manager for Viu, emphasized the need for the business to be sustainable and everyone was witnessing rising production costs as the production talent pool was still limited today. In his keynote conversation, Sutanto Hartono, Managing Director of EMTEK and CEO of SCM and Vidio, discussed Vidio's emphasis on local originals and live sports as differentiators in their quest to acquire customers and keep churn down. While sports rights were expensive and not owned in perpetuity, they played a crucial role in a growth strategy. Marlo Budiman, CEO & President Director, Link Net, later added that while the pay TV market had plateaued, its death knell had not quite sounded yet and also attributed this to the role of sports and original content keeping OTT churn low.Clarissa Tanoesoedibjo, Managing Director of MNC's Vision+, also talked about the importance of local original content and that Vision+ was increasing their investment in this sector for the service. She also pointed out that while Vision+ was primarily subscription led, the accompanying RCTI+ service was advertising led.There was little doubt about the importance advertising played in the growth prospects for the market when Gavin Buxton, Managing Director, Asia for Magnite, Florencia Eka, Country Manager, Client Services, for The Trade Desk, and Lesley Simpson, Country Manager for WeTV and iflix Indonesia, got together. They agreed that OTT was the natural evolution of TV and provided unique opportunities for digital advertisers given the engagement with viewers. And while fragmentation of services was an issue, it was clear that there was more than enough scale in premium OTT as they looked forward to sustained growth in the sector.Indonesia in View is generously sponsored by Gold Sponsors A+E Networks, Vidio and Vision+ and Silver Sponsors Akamai, Broadpeak, CDNetworks, Conviva, INVIDI, Irdeto, NAGRA, SES, TV5MONDE and YouTube. About the Asia Video Industry AssociationThe Asia Video Industry Association (AVIA) is the trade association for the video industry and satellite ecosystem in Asia Pacific. It serves to make the video industry stronger and healthier through promoting the common interests of its members. The AVIA is the interlocutor for these industries with governments across the region, leads the fight against video piracy through its Coalition Against Piracy (CAP) and provides insight into the video industry through reports and conferences aimed to support a vibrant video industry. For media enquiries and additional background, contact: Charmaine KwanHead of Marketing and CommunicationsEmail: charmaine@avia.orgWebsite: www.avia.orgLinkedIn: www.linkedin.com/company/asiavideoiaTwitter: @AsiaVideoIA Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)
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