Annual Report 2022 19 ABOUT US LEADERSHIP PERSPECTIVE SUSTAINABILITY GOVERNANCE FINANCIAL STATEMENTS Other Information Chairman’s Statement INDUSTRY OVERVIEW Governments and businesses were better prepared as they entered the second year of the Coronavirus disease (“COVID-19”) pandemic. Despite new variants such as Delta and Omicron throwing a curveball, the global economy recorded commendable growth with the continued rollouts of stimulus packages. The International Monetary Fund (“IMF”) estimated the world economy to grow by 5.9% in 2021 as compared to a contraction of 3.3% in 2020. Back home, Malaysia managed to achieve good momentum in the first half of the year despite the imposition of the second movement control order (“MCO 2.0”) in the early months. However, the introduction of the full MCO (“FMCO”) in the second half of 2021 had a greater bearing on the health of the local economy. Among the restrictions imposed were international and interstate travel bans, closure of non-essential services, limited operating hours, and workforce constraints. Collectively, these have adversely affected businesses nationwide. In response, having understood the businesses and rakyat’s concerns on livelihood, the Government put in place the National Recovery Plan (“NRP”) as an exit strategy from the crisis. This, together with the successful National COVID-19 Immunisation Programme, has put our country back on course for recovery. As a result, Malaysia’s gross domestic product (“GDP”) expanded 3.1% in 2021 versus a contraction of 5.6% in 2020, according to Bank Negara Malaysia (“BNM”). BUSINESS AND FINANCIAL HIGHLIGHTS It was an onerous year for us at Datasonic as we had to navigate through the arduous business operating landscape once again. The situation was exacerbated by the spill over effects of the pandemic, which led to supply chain disruptions, rising raw materials and commodity prices, and labour and raw material shortages. In turn, this further added to the market uncertainties and making it more challenging to manoeuvre around. On a positive note, Datasonic was well-prepared for the said challenges, as our comprehensive business continuity plan (“BCP”) was already in place from the year before and our team was better-prepared to address the situation. Throughout the various MCOs enforced, we are delighted to share that there were no major disruptions to our business and manufacturing facilities. Datasonic continued to be fully compliant with the Standard Operating Procedures (“SOPs”) imposed by the authorities. This drove our profit attributable to the owners of the Company (“net profit”) to RM10.2 million in FY2022 from RM7.3 million a year ago. FY2022 Profit After Tax RM10,225 million FY2022 Earnings Per Share 0.36 Sen
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