With the highest traded within a period of ONE YEAR, this Malaysian’s manufacturer of high quality timber doors and markets timber products for building projects is ready for NEW business!
The company that located in Port Klang, Selangor are expanding from their current business to more new opportunities to generate additional income for the group.
It is understood that the group is talking to several foreign investors for the plan and according to the source with knowledge on the matter:
“The shareholders are planning something for Anzo to take it to a new level. Anzo could get new investors and they may inject new business into the group”
For readers’ information, shares of Anzo were:
- UP 4 sen or 41.18 per cent
- CLOSED at 12 sen
It was one of the HIGHEST traded stocks on the local stock exchange and the closing price at 12 sen was also the highest traded in the last 12 months!
The TOTAL VOLUME of shares transacted was: 189 million
Congratulations for such a great achievements!
“The hike in share price shows something is up in Anzo. Looking at the trend these days where most Bursa-listed companies are diversifying and venturing into healthcare and healthcare-related industries, Anzo could be planning the same to diversify its earnings,” said the source.
Besides timber, Anzo is also involved in construction and property development, focusing on construction and interior design fit up works and related maintenance services.
In a filing with Bursa Malaysia, Anzo said it is cautious of the prospects for the current financial year as the economy continues to face various headwinds especially with the coronavirus outbreak that has affected people globally.
A broad-based slowdown in the economy is expected and the group is actively pursuing measures to manage its operating costs and revising the business plans to mitigate any potential negative impact arising from the Covid-19 pandemic.
“Therefore, Anzo will continue to focus on its operational efficiency and productivity so that satisfactory results can be achieved for the current financial year,”
The group posted revenue of RM8.37 million in the third quarter ended April 30, 2020, almost SIX times more than the preceding year corresponding quarter. It said this was mainly due to the contribution made from the trading section of the construction division, which provided RM7.5 million turnover during the quarter.
However, the timber division was badly affected by the Movement Control Order (MCO) which came into effect in March 2020. This was evinced by its contribution of only RM0.9 million (2019: RM1.5 million) turnover during the period.
Anzo said that in line with the improved operating results, the group achieved a minor pre-tax loss of RM2,000 compared to a pre-tax loss of RM1.03 million in the previous year’s corresponding quarter.
For the year to date, as the result of the improved trading business, the group’s:
- revenue and gross profit INCREASED to RM15.51 million and RM1.38 million respectively
- Pre-tax loss REDUCED by almost half from: RM2.7 million in 2019 to RM1.39 million in 2020