'Cap Ping Pong Crackers' maker HUPSENG 5024 HUP SENG INDUSTRIES BERHAD sees uncertainties on renewed commodity shortage
KUALA LUMPUR (April 20): Biscuit maker Hup Seng Industries Bhd said on Wednesday (April 20, 2022) it believes that 2022 will continue to be a year full of challenges and uncertainties as the global economy is at risk of renewed commodity shortages due to factors including the rapid spread of the Covid-19 outbreak and supply chain disruptions.
"The global economy is at risk of renewed commodity shortages due to the rapid spread of the Covid-19 variant Omicron, rising energy costs, supply chain disruptions, labour and climate change.
"The greatest challenge to the group will be the rising material costs and managing the costs will be a priority for the group over the longer term," Hup Seng said in its latest annual report, which was filed with Bursa Malaysia on Wednesday (April 20, 2022).
According to Hup Seng, which makes biscuits under the "Cap Ping Pong" and "Hup Seng Cream Crackers" brands, the financial year ending Dec 31, 2022 (FY22) is expected to be a challenging year for the group as operations are affected by external uncontrollable factors which could materially affect the company's performance and growth in unforeseen ways.
Hup Seng, which also makes the "3 in 1 Instant Coffeemix" beverage product, is mindful of the company's export business.
"The dilemma faced on the global shortage of containers, port congestion and soaring shipping rates by the shipping industry is expected to continue until 2022.
"In processing export orders, the group will need to be more cautious due to the limitation of the expiry date of the products, which directly affects the export business," Hup Seng said.
Hup Seng is however optimistic about the prospects of the Malaysian biscuits industry amid a Covid-19 vaccine-driven economic recovery.
"The group will continue to explore new markets to broaden its revenue and enhance the competitiveness of the products," Hup Seng said.
According to Hup Seng which makes its biscuits and beverage products in Batu Pahat and Senai, Johor respectively, the group has six sales networks across Peninsular Malaysia covering the Klang Valley, Kota Bahru, Kuantan, Ipoh, Butterworth and Alor Setar as well as seven distributors across Sabah and Sarawak.
The company said its main export markets are Myanmar, Thailand, Singapore, Indonesia and Saudi Arabia.
At Bursa's 12.30pm break on Wednesday (April 20, 2022), Hup Seng's share price rose 0.5 sen or 0.59% to 85 sen, which values the group at RM680 million.
Hup Seng has 800 million outstanding shares, according to its annual report.
http://www.theedgemarkets.com/article/cap-ping-pong-crackers-maker-hup-seng-sees-uncertainties-renewed-commodity-shortage
Singapore Investment
-
-
-
-
-
-
-
-
-
-
-
Updated: CIMB Visa Signature Review14 hours ago
-
-
-
-
-
Amova ChiNext Index ETF1 day ago
-
-
-
-
-
-
-
Buying more2 days ago
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
I have Achieved Lean FIRE!!6 days ago
-
-
-
-
The Art of Being Patient1 week ago
-
-
-
-
-
-
-
Portfolio Summary for June 20251 week ago
-
-
-
Portfolio (June 30, 2025)1 week ago
-
Portfolio (June 30, 2025)1 week ago
-
-
-
-
-
Month of June 20251 week ago
-
June 2025 Updates1 week ago
-
-
-
Batisht crazy!2 weeks ago
-
-
Will SORA crash to 1 per cent?2 weeks ago
-
-
Hello world!2 weeks ago
-
-
-
Buying an overseas home for retirement3 weeks ago
-
-
8 tips for house moving3 weeks ago
-
-
-
-
-
-
-
-
-
-
May 2025 Portfolio5 weeks ago
-
-
-
Thakral - Gem life deal finally coming?1 month ago
-
-
-
Clarity1 month ago
-
The Trump Tariffs1 month ago
-
Selling HRnet and Fiverr2 months ago
-
-
-
-
Ignore the noise and be calm2 months ago
-
-
-
-
FAQ on Quantitative Investing Part 23 months ago
-
-
-
-
Crossing the 300k Mark [in a volatile period]3 months ago
-
-
-
-
-
-
-
-
ETF vs Mutual Fund: Which is Better?5 months ago
-
-
-
-
-
Arigato Everyone! A Decade of Blogging!6 months ago
-
Top 10 Highlights of 20246 months ago
-
-
-
Union Square Residences8 months ago
-
-
-
STI ETF9 months ago
-
-
-
Unibet Casino Bonus Codes 202410 months ago
-
-
-
-
The Stigma against Early Retirement (FIRE)11 months ago
-
Monthly IBKR Update – June 20241 year ago
-
-
-
-
-
-
-
-
-
Feb 2024 Expenditure1 year ago
-
-
-
-
-
-
-
Monthly Summary of November 20231 year ago
-
Migration of website1 year ago
-
-
-
-
-
-
Hello SP Group, I'm Back!2 years ago
-
-
-
A New Light2 years ago
-
-
-
-
-
2022 Thoughts, Hello 2023!2 years ago
-
Series of Defaults for Maple Finance2 years ago
-
Takeaways from “Sea Change”2 years ago
-
Greed is Coming Back2 years ago
-
-
-
-
-
-
-
-
What is Overemployment3 years ago
-
Terra Hill Condo (former Flynn Park)3 years ago
-
Alibaba VS Tencent: The Battle Royale3 years ago
-
-
-
-
-
-
-
-
-
-
-
-
-
Home
HUPSENG
'Cap Ping Pong Crackers' maker HUPSENG 5024 HUP SENG INDUSTRIES BERHAD sees uncertainties on renewed commodity shortage