PETALING JAYA, 29 August 2024 – SEDANIA Innovator Berhad (“SEDANIA” or “the Group”) has unveiled its sixth-quarter and 18-month financial results for the period ending 30 June 2024, showcasing a period of dynamic change and strategic realignment towards the consumer products and services sector. The Group’s revenue for FY2024 surged to RM78.3 million, a significant leap from RM38.35 million in FY2022, underlining the success of its ongoing transformation.
Strategic Transformation and Financial Performance
SEDANIA’s latest financial report highlights a pivotal year for the Group as it intensifies its focus on sustainable Fast-Moving Consumer Goods (FMCG) and Consumer Tech sectors. The Group reported a slight loss before tax of RM0.57 million for FY2024, largely due to a one-off impairment in its Sustainable Energy segment—a necessary step in its strategic recalibration.
Chairman Tan Sri Abdul Halim Ali emphasized the importance of this transformation, stating, “SEDANIA’s performance underscores a crucial phase in our ongoing transformation journey. Our current quarter’s performance reflects our deliberate and strategic decision to recalibrate our Sustainable Energy segment. This move is essential for laying a strong foundation for our future growth.”
Strengthening Consumer-Focused Growth
Despite the challenges, SEDANIA’s consumer-driven business model remains resilient, contributing to a strong operational performance. The Group’s Managing Director, Datuk Azrin Mohd Noor, expressed confidence in the future, saying, “The inherent strength in our core businesses not only underscores our ability to navigate challenges but also sets a solid foundation for sustained profitability. Looking ahead, our focused strategies in Sustainable FMCG and Consumer Tech will drive our top- and bottom-line growth.”
New Leadership and Exciting Growth Catalysts
SEDANIA’s strategic realignment is further bolstered by new leadership and innovative product launches. Group CEO, Mr. Ng Hock Guan, is driving the Group’s growth, supported by the addition of YAA Tun Md Raus Sharif, former Chief Justice of Malaysia, to the Board. The Group’s Sustainable FMCG segments, including Offspring Inc. and Tanamera, are showing promising prospects with new product lines and partnerships.
Offspring Inc., renowned for its eco-friendly baby care products, recently launched the FeatherAIR Diaper range, designed specifically for sensitive baby skin. The introduction of Zahirah MacWilson as the brand’s first ambassador further enhances Offspring’s market appeal and visibility.
Meanwhile, SEDANIA As Salam Capital continues to lead in digital finance with its As-Sidq Tawarruq platform, facilitating Shariah-compliant transactions exceeding RM100 billion.
Looking Ahead: Sustainable Growth and Value Creation
SEDANIA’s strategic transformation reflects a broader commitment to sustainability and innovation, with plans to scale and foster growth across all business segments in FY2025. As Datuk Azrin emphasized, “Our unwavering commitment to drive continuous growth compels us to adopt appropriate risk management practices, regularly monitor our financial position, and take pre-emptive measures to ensure we continue to drive positive value for our stakeholders.”
With its focus on sustainable consumer goods, digital finance, and strategic leadership, SEDANIA Innovator Berhad is well-positioned to navigate future challenges and create lasting value for its stakeholders.
