The financial performance of SHA for financial year 2010 has
shown promising improvement as compared with financial year 2009. In 2010, gross profit
was significantly improved to RM 26.1 million as compared with only RM 4.5 million a
year ago or its gross profit registered +480% growth y-o-y. As for the bottom line, SHA
reported a net profit of RM 6.4 million for financial year 2010 (In 2009: SHA reported
net loss of RM 20.6 million). For FY10, the Board of Directors of SHA has proposed a
final dividend of 0.178 cents per share or 31.22% of net profit and the said dividend is
subject to shareholders' approval in the forthcoming AGM to be held in May 2011.
Observing from the cyclical nature of commodities (like coal, metallurgical coke and
steel products), it seems that after hitting 'rock-bottom' level in year 2009, most
commodities prices have started to 're-grow' again in 2010 as their demands have
improved.
Barring any unforeseen circumstances, SHA continues to be cautiously optimistic to
having improved financial results for the coming years.
