Amtel Holdings Bhd. · MYX:AMTEL
Amtel Holdings Bhd — Shareholder Meeting (May 2024)
28 slides from Amtel Holdings Bhd's shareholder meeting presentation, May 23, 2024
Slide 1: 27th Annual General Meeting 23 May 2024
AMTEL HOLDINGS BERHAD 199601037096 (409449-A) 27th Annual General Meeting 23 May 2024
Slide 2: MSWG Questions & Answers
MSWG QUESTIONS & ANSWERS AMTEL
Slide 3: Operational & Financial Matters Question 1
Operational & Financial Matters Question 1 The Company proposed to effect the amendment to the Constitution as follows: “That the existing Clause 251 be deleted in its entirety and substituted with the following new Clause 251 to be read as follows: Final dividends 251. If the Board consider that th
Slide 4: Proposed amendment to Clause 251 of the Constitution
The proposed amendment to Clause 251 of the Company’s Constitution is to align with Section 132 of the Companies Act 2016 where directors may authorise a distribution at such time and in such amount as the directors consider appropriate, if the directors are satisfied that the company will be solven
Slide 5: Operational & Financial Matters Question 2
Operational & Financial Matters Question 2 “Despite the provision of RM230,000 for the one-off impairment loss on trade receivables, the segment still managed to turn around to register profit after tax of RM0.54 million as opposed to loss after tax of RM0.39 million in FYE 2022.”(Page 18 of Annual
Slide 6: Operational & Financial Matters
Operational & Financial Matters The impairment loss was provided based on our expected credit loss assessment as required by MFRS 9 "Financial Instruments" and is attributable to several customers. Some of these debts have been long outstanding and the management had taken the position to write down
Slide 7: Question 2 (Cont'd)
Question 2 (Cont’d) (b) What were the collection attempts before this provision was made? Our project teams had made assertive attempts to collect the outstanding debts. Although impairment loss has been provided, we continue to pursue to recover the debts with our best efforts. If warranted, we wil
Slide 8: Question 2 (Cont'd)
Question 2 (Cont’d) (c) Does the Company still maintain ongoing business with this customer? If yes, please provide the reasons. No, we do not maintain ongoing business with these customers.
Slide 9: Operational & Financial Matters Question 3
Operational & Financial Matters Question 3 “In response to these dynamic conditions, we maintain a steadfast commitment to innovation and technical proficiency. This involves significant investment in our products, services, and research and development efforts.” (Page 19 of AR2023) (a) How much has
Slide 10: Investment in hardware prototypes and R&D personnel
We have invested approximately RM700,000 in various hardware prototypes. Besides that, a significant portion of our Research and Development spending is allocated to personnel, including in-house software and hardware engineers, whose salaries and related expenses have been charged out as operating
Slide 11: Question 3 (Cont'd)
Question 3 (Cont’d) (b) What are the key products and services that the Company has innovated as a result of the said significant investment? Please refer to our Chairman’s Statement & Management Discussion & Analysis (Page 20 of AR 2023) wherein we mention about the unveiling of our latest groundbr
Slide 12: LOKATAG Pro and the LOKA Ecosystem
LOKATAG Pro is not just a traditional hardware, it’s the cornerstone of an Internet-of-Things (IoT) within the car ecosystem. It symbolises our brand - LOKATAG’s vision and core values as we usher in a new era of automotive accessories, where safety, innovation and connectivity converge seamlessly i
Slide 13: Operational & Financial Matters Question 4
Operational & Financial Matters Question 4 The Company held a total of RM3.37 million investment properties as of 30 November 2022. During the FY 2023, the Company acquired additional investment properties valued at RM0.76 million (Statements of financial position and Statements of cash flow) How do
Slide 14: Investment properties and Group strategy
The RM0.76 million is the final progress payment made upon vacant possession after obtaining certificate of fitness (Borang F) relating to three (3) properties acquired in the previous year. The holding of investment properties that have upside potential is in line with the Group’s strategy to maxim
Slide 15: Operational & Financial Matters Question 5
Operational & Financial Matters Question 5 The Company wrote down and wrote off a total of RM0.18 million and RM0.15 million of inventories respectively during the FY 2023 (FY 2022: RM0.02 million write-offs) (Page 110 of AR 2023) (a) What is the reason behind the increase in inventory write-downs a
Slide 16: Inventory write-down and write-off
Our Group assesses the carrying value of its inventories on a regular basis in compliance with the requirements of MFRS. The write down and write off during the FY 2023 relate to the ICT segment and mainly comprises spare parts, accessories and components which reach end-of-life and obsolete due to
Slide 17: Question 5 (Cont'd)
Question 5 (Cont’d) (b) How does the Company plan to improve inventory forecasting and control to minimise future write-downs and write-offs? We have hired an experienced external consultant to assist us in refining our overall operations and inventory management system. Some of the initiatives unde
Slide 18: Corporate Governance Matters Question 1
Corporate Governance Matters Question 1 The Company continues to depart from Practice 5.2 of the Malaysian Code on Corporate Governance (“MCCG”) which states that at least half of the board should comprise independent directors. For Large Companies, the board comprises a majority independent directo
Slide 19: Timeline to comply with Practice 5.2 of MCCG
Does the Company have a timeline to comply with Practice 5.2 of MCCG? Has the Company interviewed any candidates for the position of independent director to date? Since the appointment of Ms. Ang Mei Ping, the Company has yet to interview any candidates for the position of independent director but w
Slide 20: Corporate Governance Matters Question 2
Corporate Governance Matters Question 2 Practice 5.9 of the Malaysian Code of Corporate Governance (MCCG) stipulates that 30% of the Board should comprise women. As of FY 2023, there was only one-woman director out of six directors on the Board. The Company mentioned that the Board would also consid
Slide 21: Timeline for complying with Practice 5.9 of the MCCG
Does the Company have a timeline for complying with Practice 5.9 of the MCCG? What efforts are being made to identify a suitable female candidate? The female representative at the Board was appointed on 24th May 2023. We are still looking for the right candidate, as we place a strong emphasis on mer
Slide 22: Sustainability Matters Question 1
Sustainability Matters Question 1 “Our Board of Directors (“Board”) plays a key role in supporting sustainability initiatives. Our Group Chief Executive Officer and management team are responsible for identifying and managing ESG risks and opportunities, as well as measuring our Group’s sustainabili
Slide 23: Key climate-related risks identified
Our Board of Directors and management team have identified key climate-related risks, including physical risks such as pollution and global warming, as well as transition risks such as regulatory changes, market shifts towards sustainable products, and technological advancements. In order to mitigat
Slide 24: Climate risk mitigation measures
● Incorporating our products and services with green and sustainable innovations ● Setting up of our Green Technology Division looking into EV-related products and services in line with our National Sustainability Agenda to reduce our country’s carbon footprint ● Providing continuous ESG training to
Slide 25: Solar panels, recycling and paperless office
● Setting up solar panels on Wisma Amtel’s rooftop ● Promoting reusing, reducing and recycling activities among employees ● Paperless office culture through the use of electronic documents in place of hard copy documents
Slide 26: Sustainability Matters Question 2
Sustainability Matters Question 2 “The Solar PV system is fully operational since mid-September 2022. As of FYE 2023, the Solar PV system has generated a total of 106,918.54 kWh (2022: 16,391.71 kWh), which translate into an equivalent total savings close to RM50,000 (2022: RM8,000).” (a) How much h
Slide 27: Sustainability Matters Question 2 (Cont'd)
Sustainability Matters Question 2 (Cont’d) (b) What percentage of the Group's annual electricity consumption can the fully operational Solar PV system provide? Approximately 60%.
Slide 28: Thank You
Thank You Amtel Holdings Berhad (KLSE: 7031) 199601037096 (409449-A) CO} No. 12, Jalan Pensyarah U1/28, Hicom-Glenmarie Industrial Park, 40150, Shah Alam, Selangor, MALAYSIA. @ 603-5632 6788 8 info@amtel.com.my (@) amtel.com.my AMTEL
Amtel Holdings Berhad — Shareholder Meeting (May 2024) on 6ix