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Ni Hsin Resources Berhad
(653353-W)
Annual Report
2016
6
Chairman's Statement
Dear Valued Shareholders,
On behalf of the Board of Directors, I ampleased
to present you the annual report of Ni Hsin
Resources Berhad (“Ni Hsin” or “the Group”)
for the financial year ended 31 December 2016
(“FY2016”).
The FY2016 has been a challenging one for the Group with total
revenue recorded at RM37.8 million, a decrease of RM8.1 million
compared with financial year ended 31 December 2015 (“FY2015”).
Despite the less favourable revenue achieved, the Management is
confident of the potential of the Group’s business going forward. We
are proud of the achievements we have made thus far:
•
We are a leading manufacturer of Premium Stainless Steel
Multi-ply Cookware, Stainless Steel Convex Mirrors and other
stainless steel related products in Asia and we aspire to be
recognised worldwide.
•
We attained ISO 9001 certification from S.G.S. in 1999.
•
We are one of the few factories outside Japan to receive the
accreditation for SG in 1992 and SG (CH-IH) in 2002.
•
In 2006 we were awarded the Certificate in Quality Assurance
System for our Pressure Equipment from TUV Industrie Service
GmbH, Germany.
Having built a strong operating platform we believe forging strategic
partnerships will help accelerate growth and value creation
for customers and stakeholders in this era of global business
environment. Leveraging on the innovation and network outreach of strategic partners and vice versa will help us expand exponentially.
In line with this policy the following partnerships were engaged.
Inoco Resources Sdn. Bhd., a wholly owned subsidiary of Ni Hsin, had on 23 January 2017 signed an Exclusive Distributorship
Agreement with Grayns Malaysia Sdn. Bhd. to distribute Grayns Starch Reducing Rice Cooker in China, Hong Kong, Singapore and
Malaysia.
On 6 February 2017, Pentoli Sdn. Bhd., a wholly-owned subsidiary of the Ni Hsin, entered into an Exclusive Distributorship Agreement
with Mingkeda Holding Co. Ltd. Shenzhen, China for the distribution of PENTOLI brand cookware products and NI HSIN’S stainless
steel convex mirrors in China.
Acknowledgement and Appreciation
On behalf of the Board of Directors, I wish to extend my appreciation to the Management and Staff of our Group for their contribution,
dedication and commitment. I would like to take this opportunity to express my heartiest gratitude to our previous Chairman, En
Md Nazir Bin Md Kassim, for his excellent contribution to the Group and also to extend a warm welcome to En Rithauddin Hussein
Jamalatiff Bin Jamaluddin to the Board.
Our gratitude and sincere thanks is also extended to our valued customers, bankers, business associates, suppliers and regulatory
bodies for their invaluable support, assistance and confidence in the Group. Lastly, I would also like to thank my fellow Board members
for their assistance, advice and guidance.
RIZVI BIN ABDUL HALIM
Independent Non-Executive Chairman