Padini Holdings Berhad is a homegrown fashion company listed on Bursa Malaysia. The company is largely present in Malaysia and owns a number of well-known household brands such as Padini Concept Stores, Brands Outlet, and Vincci. It aims to deliver affordable fashion to its customers. The company was not spared from the economic fallout due to the COVID-19 pandemic; it sank into the red in the fourth quarter of FY2020 (ending 30 June). As footfall to shopping malls dropped and Malaysians stayed home, Padini ramped up its digital initiatives like organising Facebook Live events to reach out to customers. Here are seven things I learned from the 2020 Padini AGM: 1. Revenue decreased 24.0% year-on-year to RM1.4 billion in 2020 while net profit excluding extraordinary items plummeted by 67.4% year-on-year to RM46.7 million over the same period. This was due to the implementation of the Movement Control Order in Malaysia to

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