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 16 (cont’d) We are confidence that as the country move on the recovery track from the COVID-19 pandemic to endemic phase, this division will contribute positively to our Group. Furthermore, we have engaged with local sawmills to develop various value-added teak wood products. Manufacturing The Group is a long-established elastic textile and webbing manufacturer in Malaysia and Vietnam. The products are manufactured and sold in Malaysia and Vietnam, and also exported to over 30 countries including the United States, United Kingdom, India, Indonesia, Australia, Sri Lanka and Pakistan. The Group ventured into manufacture and sale of PVC related products in 2019 by acquiring the entire issued share capital of a company whose subsidiaries in Hong Kong and PRC are mainly engaged in the manufacture and sale of PVC related products. The revenue from the manufacturing division for FY2021 was approximately RM116.2 million (2020: RM96.3 million), increased by approximately RM19.9 million or 20.6% as compared to FY2020. During FY2021, domestic sales and export sales accounted for approximately 46.3% and 53.7% (2020: 50.9% and 49.1%) of the total revenue from the manufacturing division, respectively. Asia Pacific region, Europe and North America continued to be the major export countries of the Group during both years. Revenue generated from the sale of elastic textile, webbing and other manufacturing products accounted for approximately 24.2%, 40.3% and 35.5% (2020: 28.9%, 38.5% and 32.6%) of the total revenue from the manufacturing division respectively during FY2021. Due to resurgence in infection of COVID-19, the operations in Malaysia and Vietnam were disrupted from June to October 2021. Despite all these challenges, the overall sales performance of the manufacturing division has shown a strong improvement as compared to 2020, mainly due to reopening of economy and recovery from the impact of COVID-19 pandemic during the year. The performance by products is stated as below: (i) Elastic textile During the year, the revenue of elastic textile was approximately RM28.3 million (2020: RM27.6 million), increased by approximately RM0.7 million or 2.5% as compared to 2020, mainly due to an increase in sales volume from customers in Europe during the year. The Group is a long-established elastic textile and webbing manufacturer in Malaysia and Vietnam. Management Discussion and Analysis
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