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aws账号(www.2km.me)_Southern Cable sees demand recovery in FY22

admin2022-01-0920

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“We are increasing our production to pre-pandemic levels to fulfil the pent-up demand from industries such as utilities, renewable energy, manufacturing, construction and infrastructure,” managing director Tung Eng Hai says.

Southern Cable Group Bhd (SCable) says it is seeing more enquiries for orders and hopes to ride on this to capture a larger market share.

The group, which is a manufacturer of cables and wires, says new sales will be driven by new products targeting existing and new industries.

“We are increasing our production to pre-pandemic levels to fulfil the pent-up demand from industries such as utilities, renewable energy, manufacturing, construction and infrastructure,” managing director Tung Eng Hai says.

These industries were previously held back by the country’s lockdown measures.

SCable has had a tough third quarter.

The double whammy of lowered sales due to the lockdowns and higher raw material costs of plastic and metal-based materials had seen SCable’s net profit for its third quarter ended Sept 30, 2021 fall by some 81% year-on-year (y-o-y) to RM1.38mil.

Revenue declined by some 16% to RM127.2mil in the same period.

The group says it has the option to adjust its selling prices to its clients to factor in the rise in raw material prices.

“Our existing contracts with our major customers allow us to adjust for raw material price fluctuations on a quarterly basis, while we also have back-to-back hedging of our raw material purchases for daily sales,” Tung says.

“Furthermore, our comprehensive in-house supporting activities such as furnace and continuous casting allows us to manage our costs effectively, and helps us remain competitive,” he adds.

The group is anticipating profit margins to improve with the development of new products.

Growth is also expected from industries that are growing.

“We are excited about growth opportunities in the construction, infrastructure and solar sectors, resulting from our new product development initiatives,” Tung says.

For the construction and infrastructure industries, the group recently developed a new aluminium-based industrial cable as a substitute to the conventional copper cable.

This will enable its clients to mitigate high copper prices, Tung says.

“We are able to offer our customers a more cost-viable alternative, while maintaining performance and quality requirements,” he says.

SCable has secured the TÜV SÜD certification for its solar photovoltaic (PV) cable, and this product can now serve as an import substitute for the local solar sector’s consumption.

“We already have a track record in supplying the alternating current portion of low and medium voltage power cables to solar PV projects.

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