Founded in 1996, Wellcall Holdings Malaysia manufactures and sells mandrel and extrusion hoses to more than 70 countries worldwide. The company was subsequently listed on Bursa Malaysia in 2006. Ninety percent of its hoses are exported while the rest are for domestic use. Its industrial hoses are applied across different industries ranging from welding, oil and gas, to air and water.
Wellcall’s share price was not spared from the recent market sell-down and had fallen to as low as RM0.55 per share in March this year. I attended Wellcall’s recent AGM and EGM as I was curious to know how the company intends to grow during this COVID-19 crisis.
Here are seven things I learned from the 2020 Wellcall AGM and EGM:
1. Wellcall’s revenue decreased by 0.6% year-on-year to RM170.1 million because of the overall soft industrial hose market. It posted a 18.5% increase year-on-year in its net profit (excluding exceptional items) over the same period due to effective cost management and increased productivity.