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FYE2020 Key Focus Areas
Cost and
operational
efficiency
improvements
Distribution
network expansion
Diversify product
offerings
Strengthen
strategic alliances/
partnerships
For the FYE2020, the Food Division reported a 1.1% rise in revenue to RM131.69
million from RM130.32 million in the previous corresponding year. Overall, IFC
sold 798,998 cartons of tuna and mackerel products, an improvement of 7.3%
over last year. Exports of canned tuna to the European Union, IFC’s major export
destination, rose to 127,700 cartons (FYE2019: 77,437 cartons) on the back of
strong demand from existing customers, particularly in the second half of FYE2020
while sales volume of canned tuna in the domestic PNG market was up 3.2% over
last year. These gains, however, were offset by reduced volumes for tuna loins, fish
meal and canned mackerel.
Canned mackerel production has at times been constrained by the inconsistency
in the volumes of raw materials obtained. The key priority for this current year is to
improve the agility of our supply chain, reduce downtime and increase capacity.
Fishmeal declined 46.9% to RM1.18 million (FYE2019: RM2.22 million) on the back
of weak demand from our overseas customers in the first half of FYE2020.
Profit before tax (“PBT”) for the year climbed to RM14.92 million from RM8.33
million registered in the prior year mainly attributable to lower direct costs,
writeback of impairment loss on receivables of RM1.27 million and a net foreign
exchange gain of RM1.79 million. Excluding the impacts of foreign exchange and
writeback, the division’s PBT would be RM11.86 million, an improvement of 42.4%
year-on-year. The improvement is also attributed to increase in the canned tuna
(export) segment which generally gives a higher margin compared to the other
product segments.
5-Year Revenue &
PBT Performance
(RM Million)
Revenue PBT
Fish Canning Process
Inputs Mackerel, Yellowfin, Skipjack
Customers
• Processors
• Wholesaler
• Caterers
• Fast-food outlets
• Retailers
• Restaurant
• Supermarket
Distribution
• Transportation
• Warehouse
Processing
(Canning/Loining)
• Thawing
• Deboning & skinning
• Retorting
• Freezing
• Packaging
Sourcing
• Supplier screening
• Supplier code of conduct
• Document checking
Output
Brands
Canned Tuna
Canned Mackerel
Frozen Pre-cooked
Tuna Loins
Fishmeal
Fish Oil
Food Division : Full Sail Ahead
20’
14.92
131.69
+1.1%
+79.1%
19’
8.33
130.32
1.36
18’
129.27
17’
6.52
114.26
16’
4.72
88.42
FYE
kumpulan Fima Berhad
(197201000167)(11817-V)
Annual Report 2020
49