ENRA Group Berhad | Annual Report 2022 7 In my Chairman’s Statement last year, I highlighted the importance of our strategic decision 7 years ago to diversify into areas other than real estate, and shared my belief that ENRA would be able to weather the pandemic. Though ENRA has always been operationally stable and profitable, that decision to diversify has been most rewarding over the last 2 years. In fact, FYE 2022 was an active year for ENRA: • After growing ENRA Kimia consistently for 5 years (including an expansion into Australia), we took the opportunity to divest the company and realised a significant return on investment; • An interim dividend of 7.4 sen per share was declared to reward to our shareholders; • ENRA SPM completed another year of operations with Ratu ENRA, our maiden FSO vessel, running confidently and safely; • Q Homes’ maiden project in Teluk Panglima Garang, which was completely sold in FYE 2021, has been progressing well and is anticipated to complete on time; • ENRA Energy Solutions, ENRA’s MRO business, successfully completed its primary contract with Hibiscus Petroleum Berhad and has begun providing its services for the Malaysian operations for one of the world’s largest international oil companies; and • ENRA IOL, the energy and lighting solutions business, completed the installation of energy efficient lights for a Malaysian highway. ENRA ended FYE 2022 with a strong balance sheet and 3 active main business – property development, and two energyrelated divisions in Energy Logistics (FSO and SPM services) and MRO. The ENRA management continues to tread forward cautiously. Though the pandemic is largely over, a series of significant challenges have arisen, in the form of logistical log jams and global inflation driven by pent-up consumer demand after the pandemic, and the Russian special operations in Ukraine. Raw materials, cost of labour, and cost of logistics have all increased significantly, and we will need to be wise and disciplined in managing our expenses and sales strategy, otherwise our profit margins may shrink. I am immensely appreciative of my fellow Board members and the ENRA team for their dedication and hard work during another difficult year for everyone. Despite the continuing challenging environment, I believe that the management team will be able to forge ahead. Datuk Ali bin Abdul Kadir Chairman 23 June 2022 CHAIRMAN’S STATEMENT Dear Shareholders, It is my pleasure to present, on behalf of the Board, the Annual Report and Audited Financial Statements of ENRA Group Berhad for the financial year ended 31 March 2022.
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