Amidst the uncertainty and challenging local and global economic environment, the Group continued to deliver commendable results for FY2017.

For the financial year under review, group’s revenue increased 7% from RM319.4 million to RM342.6 million, translating into an increase of RM23.2 million. The better results mainly derived from Textile Division.

The Group managed to turn around from the loss before tax of RM27.43 million for FY2016 to profit before tax of RM134.0 million for FY2017, owing to impairment write back for investment in associated as well as gain on disposal of US investment.

This year is the first year that all the resolutions tabled at the meeting are resolved by way of POLLING. Since July 2016 onwards, all listed companies are now require to resolve all resolutions tabled at general meetings by way of POLLING, no longer by way of show of hands.

Some highlights for the Financial Performances:
The Group recorded revenue of RM313.2 million for the financial year ended 31 March 2016 against RM370.3 million achieved in the previous 15-month period ended 31 March 2015.

However, a loss before tax of RM27.3 million was registered for the financial year ended 31 March 2016 as compared to profit before tax of RM31.0 million recorded in the previous 15-month reporting period. This was primarily due to impairment losses amounting to RM59.4 million on investment in associated company and unquoted investment.

At the Company level, loss before tax was RM26.3 million as compared to profit before tax of RM132.9 million posted in the previous 15-month period ended 31 March 2015. The loss was mainly due to lower dividend income received from subsidiaries coupled with impairment losses.

Overview Performance by Operation are:

First time in the record for the Annual General Meeting (AGM) to be held in Flamingo by the Beach Hotel, outside of United Sweethearts Garment’s premise on 21 and 22 May 2016.

The two days events are full of fun, joy, warm relationship and bonding closer fellowship among the family members and managers.

While managers are attending the AGM to review the past performance results, brain storming the future target and direction and its action plan for moving forward, the rest of the family members are enjoying the early sun rising, beach side walking or dumping in the swimming pool.

4 buses has been chartered for 126 pax from 40 manager’s family. The itinerary includes visit to Entopia Penang Butterfly Farm, 5D Interactive World, Amazing World Studios and Made in Penang Interactive Museum. Grand dinner was called at E&O Hotel and Starview Restaurant.

Many photos being taken to capture the best moment and sensation of the trip.

USG recognized that the family forms an important integral part of employee’s life and career. A happy and solid household has a strong impact on employee’s focus, performance and contribution.

The reaching out to the family members would improve the overall well-being and strengthen the organization-employee bonding.

The event is really marvelous and unforgettable, we are exciting to anticipate the next year event!

The Group had posted revenue of RM379.0 million for the 15-month period ended 31 March 2015 as compared to RM300.9 million registered in the previous 12-month period ended 31 December 2013.

The consolidated 15 month period profit before tax for the Group was RM30.8 million compared to last year’s 12-month period of RM21.4 million.

The better results were primarily due to the fine performances of Textile Division and Telecommunications Division.

Newspaper articles can be view below:
TheSunDaily – MWE Holdings eyes 60 percent more revenue
TheEdgeMarkets- MWE Holdings Bhd’s Vietnamese unit to generate US$40m revenue in FY17
BERNAMA- MWE Eyes Additional US$40 Million Revenue In FY17

the company was pleased to inform that the group’s overall performance of year 2011 was satisfactory during the year amidst global uncertainties. The group recorded revenue of RM501.3 million, up marginally against RM490.0 million in the previous year. However, profit before tax was 20% higher than year 2010, at RM60.7 million against RM50.4 million.