3Q24 net profit rises 18.9% to RM130.5 million

PRESS RELEASE

Scientex 3Q24 net profit rises 18.9% to RM130.5 million

• Affordable housing demand propels growth; strategic land acquisitions continue
• Packaging segment delivers steady performance with increased exports
• Declares interim dividend of 6 sen per share in respect of FY2024

Shah Alam, Selangor, Malaysia, 21 June 2024 - Global packaging manufacturer and leading property developer Scientex Berhad (Scientex, 森德公司, Bloomberg: SCI MK) recorded net profit of RM130.5 million in the third quarter ended 30 April 2024 (3Q24), growing 18.9% from RM109.8 million in the corresponding quarter last year, on improved contribution across the packaging and property development divisions.

Group revenue for 3Q24 rose 11.1% to RM1.1 billion from RM997.1 million previously. The property division led overall growth in 3Q24, with segment revenue increasing 24.7% to RM451.1 million from RM361.7 million previously, driven by steady construction progress for affordable housing developments across Peninsular Malaysia.

Meanwhile, the packaging division achieved a 3.4% increase in revenue to RM656.9 million in 3Q24 from RM635.4 million previously, due to higher exports of industrial and consumer packaging.

"Scientex maintains a balanced approach to growth, accelerating the pace of new property launches to meet robust demand while strategically acquiring land to expand affordable housing access across Peninsular Malaysia.

Simultaneously, we are enhancing our packaging division's competitiveness through operational excellence, cost optimization, and the development of innovative, customer- centric solutions, including a growing portfolio of sustainable packaging options.

This multi-faceted approach, supported by continued resilience in both segments, positions us well to achieve sustainable performance in FY2024."

Mr. Lim Peng Jin (林炳仁),

CEO, Scientex Berhad

For the nine-month period ended 30 April 2024 (9M24), revenue rose 10.0% to RM3.3 billion from RM3.0 billion in the prior-year period, while net profit improved 26.6% to RM409.4 million from RM323.2 million previously. The property segment was the key growth driver, contributing RM1.4 billion in revenue compared to RM998.9 million previously, due to higher sales, steady construction progress, and strong take-up for new launches. The packaging segment maintained stable performance, with revenue of RM1.9 billion versus RM2.0 billion in the previous period.

Scientex is committed to sustainable growth, balancing expansion in the affordable housing market with a continued focus on innovation and operational efficiency in its packaging division. This commitment includes a significant investment in renewable energy, with the deployment of a 21-MWp rooftop solar PV system across the Group's headquarters and key manufacturing plants scheduled for completion by January 2025.

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Mr. Lim added: "Scientex's investment in renewable energy, together with our focus on operational efficiency and cost management, enables us to proactively address global market challenges and rising energy costs."

"Additionally, our recent launches in Penang, Selangor, and Melaka are seeing strong response, and we remain on track to achieve our goal of 50,000 completed homes by 2028, supported by land acquisitions and a robust pipeline of development projects."

Scientex declared an interim dividend of 6 sen per share for the financial year ending 31 July 2024 (FY2024), representing a total payout of RM93.1 million to shareholders. The ex-dividend date is 9 July 2024, payable on 19 July 2024.

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About Scientex Berhad (森德公司, www.scientex.com.my)

Scientex Berhad (Scientex) is a leading manufacturer in flexible plastic packaging and a prominent developer of affordable homes in Malaysia.

Established in 1968, our drive to achieve continuous growth has seen us become one of the world's top manufacturers of stretch film and an end-to-end flexible plastic packaging producer with a presence across the packaging value chain, from stretch films, base films and printed films to bags and multi-layered flexible plastic packaging solutions used in industrial and consumer packaging.

To date, Scientex has 18 manufacturing plants across Malaysia, Vietnam, Myanmar and the United States of America; as well as sales offices in 9 countries, namely, Australia, Indonesia, Japan, Myanmar, New Zealand, Philippines, Singapore, Thailand and USA. Approximately 70% of its packaging products are exported to over 60 countries worldwide.

Scientex's property arm has township development projects in Pasir Gudang, Kulai, Skudai, Senai, Pulai, and Kota Tinggi (all in Johor), Ayer Keroh, Durian Tunggal and Jasin (all in Melaka), Seremban (Negeri Sembilan), Rawang and Kundang Jaya (both in Selangor), Ipoh (Perak), Tasek Gelugor and Sungai Dua (both in Penang), as well as Sungai Petani (Kedah). The Group is also acquiring 1,094 acres in Muar, 350 acres in Pulai, both in Johor, 826 acres in Bestari Jaya, Selangor, and 708 acres in Jawi, Penang. To date, Scientex has delivered RM10.1 billion worth of properties and has projects-in-hand of RM3.6 billion.

Issued for and on behalf of SCIENTEX BERHAD by Aquilas Advisory (Malaysia) Sdn Bhd

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