FINANCIAL REVIEW The Group's revenue for the FY2021 was RM190.5 million, representing RM5.9 million decrease as compared to revenue of RM196.4 million recorded in preceding year. The decrease of revenue of RM5.9 million for FY2021 was due to one-off realisation of previously unrealised intercompany construction revenue of RM80.5 million in FY2020. Excluding the one-off impact, our property development and construction division recorded an improved revenue of RM39.0 million, resulted from higher sales and progress from Embayu Project. On top of it, revenue from manufacturing division also shown a rebound in revenue of RM19.9 million, higher by 21% due to reopening of economy and recovery of sales from impact of COVID-19 pandemic. A total of RM15.0 million revenue was contributed by the underwriting fees, brokerage fees and financial advisor fees from security brokerage business which the Group acquired in the fourth quarter of 2020 and was subsequently disposed off in March 2021. The Board believes the disposal allows the Group to focus on its existing core business and conserve the funds and resources amid the economic uncertainties. P R G H O L D I N G S B E R H A D A N N U A L R E P O R T 2 0 2 1 14 Management Discussion AND Analysis DEAR VALUED SHAREHOLDERS, I would like to personally thank each and every one of our shareholders, customers, business partners, business associates, bankers and other stakeholders for your continued support and faith in PRG throughout FY2021. It has been an extremely challenging year caused by the worldwide unprecedented crisis and pandemic. revenue from property development and construction division RM55 million DATO’ LUA CHOON HANN Group Executive Vice Chairman
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