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The overall performance of the Group recovered commendably in 2021, with growth driven by improved contributions from both the ATE and FAS business segments with each segment accounting for approximately 70.1% and 29.9% of the total Group's revenue, as compared to 2020 of 67.6% and 32.4%, respectively.
ATE segment
With a revenue contribution rate of 70.1%, the ATE segment continued to contribute the larger portion of the Group's overall revenue and profit. After witnessing a decline in revenue last year, total revenue from this segment marked a turnaround and grew at a double-digit rate of 22.6% to MYR358.4 million. During the year, backed by the recovery of the smartphone market and its peripheral items. the electro-optical industry continued to dominate the ATE segment with its revenue contribution rate of approximately 49.7%, derived from abroad
the product portfolio of the Group in its test solutions for the proximity sensor, 3D magnetometer sensor, ambient light sensor, wafer-level VCSEL (Vertical-Cavity Surface-Emitting Laser) and other relevant applications under optics and photonics sensing solutions.
Owing to the Group's persistent effort in increasing its exposure to the automotive industry, revenue from this sector came in as the second-highest within the ATE segment with its contribution rate of 27.6%. In addition, the automotive sector chalked the highest growth rate at 39.9% among other industry sectors within the ATE segment. This strong demand was largely attributed to the Group's automotive test solutions covering a full range of assembly and test technologies for various aspects of the manufacturing process ranging from the component test, final test to packaging. During the year, the ATE segment was also benefitted from the semiconductor industry with its revenue contribution rate of 20.0%, where this sector captured a 26.8% growth as compared to 2020 from the continuous demand for the Group's test handling equipment which was underpinned by the growth of integrated chips and other related semiconductor contents from the acceleration of digital transformation by the pandemic over the past two years.
The ATE segment will continue to dominate the performance of the Group in the foreseeable future. With the global pandemic unleashing the unprecedented wave of technology developments coupled with the power and momentum of technology convergence, the Group is in a promising position to leverage on these significant opportunities in the ATE segment.
FAS segment
After recording a strong revenue growth in the year 2020, the FAS segment continued to witness a double-digit growth rate in its contribution to the Group's revenue, chalking 12.3% growth to achieve MYR155.3 million during the year. This was mainly driven by the robust demand for the Group's proprietary i-ARMS solutions, where a wider customer base adopted this application across different industry segments in different countries and regions. Notably, this segment gained its revenue momentum in the third and fourth quarters of the year, with revenue in the second half of the year exceeding its first half by approximately 19.5%. The main industry segment that led to FAS growth was the consumer and industrial product segment, contributing approximately 45.4% to overall FAS segment revenue. This was followed by the electro-optical segment and medical device segment with its respective revenue contribution rate of 30.4% and 19.3% where the application of the Group's i-ARMS was equally prevalent in
these segments.
The Group continues to witness huge potential and opportunities in its FAS segment given the fundamental shift towards factory automation and smart manufacturing across various industries, especially in a post-pandemic environment. With the current automation trend, the Group will continue to broaden and enrich the capability of its automated solutions to capture the growth from these developments in the years ahead.
Outlook
"It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change."
The COVID-19 pandemic has dramatically and fundamentally altered the way we live and work. From social distancing, quarantine, closed borders, travel bans to the buzzword "home office" have never been mandated on such a large scale. The Group, however, navigated the "unsettling" effects of the pandemic and ended the financial year relatively "healed". Such accomplishment has demonstrated the Group's resilience in taking on the undeniable challenges that demand new ways of operating in a post-pandemic business environment and its versatility and speed in emerging strongly owing to the hard work and concerted efforts of the employees of the Group.
As the saying goes, every cloud has a silver lining. The pandemic has pushed many companies over the technology tipping point and with the surge in automation, digital adoption has taken a quantum leap across many companies and industries. As a result of these developments, the Group embraces 2022 with increased optimism on the back of a strong order book momentum largely driven by another high growth potential year surrounded by several catalysts brought about by AI, big data analytics, IoT, self-driving cars, Industry 4.0 and the deepening application of 5G. With the electro-optical segment currently dominating the Group's financial performance, this segment will continue its growth momentum in 2022, albeit modestly, given the Group's growing exposure to other industry segments. In respect of the automotive segment, the Group expects to witness the continuous affluence of this segment with e-mobility emerging at an accelerated pace. With electrification playing an important role in the transformation of the transportation industry and thereby presenting major opportunities in all vehicle segments, the global transition specifically towards electric vehicles ("EV") continues to get momentum and creates major disruption in the automotive industry and the related nexus. Significant efforts are witnessed through regulators worldwide defining more stringent emissions t argets which include, among others, the European Union CO2 emissions regulations for cars and vans, China's New Energy Vehicles (NEV) mandate and Biden's administration is introducing a 50% EV target by 2030. Given this context, the Group anticipates a favorable prospect for its automotive test solutions from front-end to back-end which will continue to provide an impetus to the Group's overall performance.
In the belief that there is so much room and business opportunity for further expansion and that now is the best time to be planning for the future, the upcoming new manufacturing plant will pave the way for the Group to deepen its foothold in the medical device segment and bring the growth of its FAS segment to the next level. Key technologies that have been used widely in industrial manufacturing are seen to be filtering into the healthcare sector and with AI conquering the next frontier of the medical segment, the automation opportunity within this horizon is now abundant. With these technology developments presented, the Group is heartened to witness the growing demand for its automated assembly solutions from a broader customer base within the medical device segment on the back of an encouraging booking momentum. Together with the setup of Pentamaster MediQ Sdn. Bhd. for its involvement in the manufacturing of single-use medical devices, the Group is fully prepared for the huge market opportunities in the medical industry. Having continuously witnessed revenue growth from the FAS segment in the past two years, the Group continues to benefit from the increased focus of various industries on industrial automation which is now rapidly necessitated by the effects of the pandemic. As the surge in automation continues in the coming years with the use of AI and IoT in the manufacturing processes, the huge potential and opportunities in the FAS segment will be prevalent. Girded by a year of relatively stable financial performance in 2021, the Group will continue to focus fundamentally on its operational capabilities and remain proactive in the development of new cutting-edge technologies and solutions. With a wide variety of challenges and opportunities confronting 2022, the Group, having the pulse on the global trends and requirements, is forward-looking in building another year of solid business growth. As it is, the virus is here to stay for a period of time and will be a reality in our daily lives. The Group's priority is to ensure the safety of its employees with its strict adherence to the necessary safety measures and operating procedures.
About Pentamaster International Limited
PIL (HKEX stock code: 1665) is a leading global supplier in providing automation technology and solutions to multinational manufacturers mainly in the semiconductor, automotive, electrical & electronics, medical devices and consumer industrial products sectors spanning APAC, North America and Europe. The Group's broad range of integrated automation products and solutions entails innovating, designing, manufacturing and installing automated equipment and/or automated manufacturing solutions.
To learn more about PIL, please visit us at www.pentamaster.com.my.
For media enquiries, please contact:
Email: investor.relation@pentamaster.com.my
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comPentamaster International Limited ("PIL" or "the Group") which is listed under the Main Board of The Stock Exchange of Hong Kong Limited announced its financial results for the year ended 31 December 2021 today.
Champion REIT Announces 2021 Annual Results
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Summary of financial results
FY 2021 FY 2020 Change
Total Rental Income (HK$ mil) 2,495 2,633 -5.2%
Net Property Income (HK$ mil) 2,197 2,347 -6.4%
Distributable Income (HK$ mil) 1,503 1,554 -3.3%
Distribution per unit (HK$) 0.2279 0.2496 -8.7%
31 Dec 2021 31 Dec 2020 Change
Gross Value of Portfolio (HK$ mil) 65,296 67,318 -3.0%
Net Asset Value per unit (HK$) 8.25 8.61 -4.2%
Gearing Ratio 22.9% 23.0% -0.1pp
Overview
The persistent COVID-19 pandemic continued to pose challenges to the operating environment for our business in 2021. Amid the gloomy market conditions, Champion REIT recorded a drop in distributable income by 3.3% to HK$1,503 million and distribution per unit ("DPU") declined 8.7% to HK$0.2279.
Three Garden Road
Three Garden Road recorded a shrank of the rental income by 3.8% to HK$1,460 million in 2021 (2020: HK$1,518 million). Average passing rent decreased to HK$108.3 per sq. ft. (based on lettable area) as at 31 December 2021. Demand from new and existing tenants gradually materialised in the second half, boosting the occupancy of the property to 89.0% as at 31 December 2021.
Langham Place Office Tower
The impact of negative rental reversion drove down rental income of Langham Place Office Tower to HK$365 million in 2021 (2020: HK$378 million), and passing rents of the property declined to HK$47.1 per sq. ft. (based on gross floor area) as at 31 December 2021. Occupancy of the property increased to 96.3% as at 31 December 2021, given the rebound in leasing momentum for beauty and healthcare tenants.
Langham Place Mall
Amid the challenging environment for retail leasing, the total rental income of the property went down 9.1% to HK$670 million (2020: HK$738 million). The average passing rents dropped to HK$165.9 per sq. ft. (based on lettable area) as at 31 December 2021. The mall remained fully occupied as at 31 December 2021, attributed by the spearhead of the Langham Beauty concept at our premises which upgraded the tenant mix and strengthened the strategic positioning of the mall.
Distribution
Distributable income of the Trust dropped 3.3% to HK$1,503 million (2020: HK$1,554 million) and DPU dropped 8.7% to HK$0.2279 (2020: HK$0.2496). Based on the closing unit price of HK$3.99 recorded on 31 December 2021, the total DPU represented a distribution yield of 5.7%.
Asset Value
The appraised value of the Trust's property portfolio was HK$65.3 billion as at 31 December 2021, declining 3.0% from HK$67.3 billion as at 31 December 2020.
Sustainability
We forged ahead to embrace change with resilience and agility to manage business continuity and put people at the heart of what we do. In addition to the BEAM Plus Existing Building Platinum certification, Langham Place Mall was awarded the international EDGE green building certification, making it the first shopping mall in Hong Kong to receive the recognition. The Trust also secured its first sustainability-linked loan and sustainability-linked swap, befitting our sustainability objectives.
Outlook
Amid the ongoing COVID-19 pandemic, the outlook of Hong Kong office and retail property market remains uncertain and difficult. The tightening of social distancing measures would continue to affect the business of our tenants. Relaxation of cross-border controls and quarantine requirements locally would be crucial for economic recovery.
Looking forward, we will continue to adopt a flexible leasing strategy to retain tenants and maintain high occupancy rates. Despite the unfavourable conditions, we strive to inject impetus to growth through asset enhancement and trade mix rebranding initiatives. We will take a prudent approach in balance sheet management in a rising rate environment. Equipped with a sufficient reserve, the Trust stands ready to pursue acquisition opportunities globally with a goal to generate long-term returns.
About Champion REIT (stock code: 2778)
Champion Real Estate Investment Trust is a trust formed to own and invest in income producing office and retail properties. The Trust focuses on Grade A commercial properties in prime locations. It currently offers investors direct exposure to nearly 3 million sq. ft. of prime office and retail floor area. These include two Hong Kong landmark properties, Three Garden Road and Langham Place, as well as a joint venture stake in 66 Shoe Lane in Central London. Since 2015, the Trust has been included in the Constituent of Hang Seng Corporate Sustainability Benchmark Index of Hang Seng Indexes.
Website: https://www.championreit.com/
For press enquiries:
Strategic Financial Relations Limited
Vicky Lee Tel: 2864 4834 Email: vicky.lee@sprg.com.hk
Christina Cheuk Tel: 2114 4979 Email: christina.cheuk@sprg.com.hk
Yvonne Lee Tel: 2864 4847 Email: yvonne.lee@sprg.com.hk
Website: http://www.sprg.com.hk/
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comChampion Real Estate Investment Trust (stock code: 2778), the owner of Three Garden Road and Langham Place, announces its financial results for year ended 31 December 2021.
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