English | 简体中文 | 繁體中文 | 한국어 | 日本語
Tuesday, 28 June 2022, 17:00 HKT/SGT

Source: Leon Fuat Berhad
Leon Fuat Berhad Shareholders Vote to Pass All Resolutions at AGM
Shareholders also approved a final single-tier dividend of 2.0 sen per share for FY2021

SHAH ALAM, Malaysia, June 28, 2022 - (ACN Newswire) - Leon Fuat Berhad, a manufacturer and trader of steel products, specialising in rolled long and flat steel products, is pleased to announce that shareholders have passed all resolutions at the Group's 15th AGM held today.

Mr. Calvin Ooi Shang How, Executive Director of Leon Fuat

Shareholders passed a resolution approving a final single tier dividend of 2.0 sen per share for the financial year ended 31 December 2021 (FY2021).

Shareholders also voted to re-elect Dato' Sri Ooi Bin Keong, Mr. Tan Did Heng, Mr. Tan Sack Sen and Dato Lim Cheng Poh as directors as well as to retain Mr. Chan Kee Loin as an independent director. Also retained as independent directors were Did Heng and Sack Sen.

Among the other resolutions up for voting, shareholders reappointed Baker Tilly Monteiro Heng PLT as the Group's auditors and authorised the directors to fix the remuneration of the auditors.

Mr. Calvin Ooi Shang How, Executive Director of Leon Fuat said, "We are happy to meet our shareholders again in a physical setting for the 15th AGM after having held the previous AGM virtually. We would like to thank shareholders for their trust and confidence in us as we navigated a challenging FY2021. Our financial performance for the first quarter ended 31 March 2022 was satisfactory despite the decrease in overall gross profit margin."

"We are cautiously optimistic of achieving profitable results for the remaining quarters of FY2022 but would like to point out that the outlook has dimmed considerably with the World Bank having cut global economic growth outlook to 2.9% for this year from the 4.1% growth outlook it had forecast in January 2022. To mitigate risks, the Group will continue to monitor steel prices closely as well as related foreign currencies. We will also take proactive measures such as anticipating price and currency volatility through negotiating forward contracts as well as prudent inventory management."

Leon Fuat Berhad: [BURSA: LEFU] , https://www.leonfuat.com.my/

Topic: Press release summary
Source: Leon Fuat Berhad

Sectors: Metals & Mining, Daily Finance, Daily News, Local Biz
From the Asia Corporate News Network

Copyright © 2022 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Leon Fuat Berhad Releated News
May 30, 2022 19:00 HKT/SGT
Leon Fuat Berhad Posts 29% Increase in Revenue to RM273 Million for Q1 FY2022
Feb 25, 2022 18:00 HKT/SGT
Leon Fuat Berhad's Q4 Profit After Tax Jumps 61.8% to RM29 Million
Nov 29, 2021 20:00 HKT/SGT
Leon Fuat Berhad Posts 470% Rise in Quarterly PAT
Oct 28, 2021 12:00 HKT/SGT
Leon Fuat Berhad Powers Up for Green Energy
Sept 9, 2021 18:00 HKT/SGT
Leon Fuat Berhad Posts 1,110% Jump in Net Profit
More news >>
Copyright © 2022 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Cookies Policy | Privacy Policy | Disclaimer | Terms of Use | RSS
US: +1 214 890 4418 | China: +86 181 2376 3721 | Hong Kong: +852 8192 4922 | Singapore: +65 6549 7068 | Tokyo: +81 3 6859 8575