Panasonic Manufacturing Malaysia Berhad held its 59th Annual General Meeting

Panasonic Manufacturing Malaysia Berhad (PMMA) held its 59th Annual General Meeting on 28^th August 2024.

The meeting was held via Virtual Telecast and was chaired by chairman, Dato' Azman Mahmud. After the opening declaration, Mr. Sugihara, the Managing Director (MD) of PMMA, explained the company's performance in the last fiscal year and the business review and direction of current and future business, followed by resolutions on the agenda and answers to questions from shareholders.

It was reported that the revenue in the last fiscal year were 91% of the previous year and profit before tax was 117% of the previous year. It also proposed and approved an annual dividend of 121 sen per share, up 14 sen from the previous year.

In terms of growth strategies for the current fiscal year and beyond, Mr. Sugihara announced that PMMA is strategically expanding its existing product lines and exploring new sales channels, such as Ceiling Fans, Vacuum Cleaners, and Home Showers.

He also highlights that PMMA is utilizing water technology and expertise from Japan and will challenge water-solution business to be next pillar of PMMA. PMMA is committed to providing One Stop Water Solution as a safe and secure water environment for all their customers.

In terms of sustainability, it was announced in January 2024 that the installation of solar panels on the new building rooftop and motorbike parking roof of the existing SA1 plant (Section 15) was completed as part of the initiative to achieve zero CO₂ emissions.

This year, PMMA continue to implement its countermeasures in response to the natural disaster by installing flood barrier gates at its SA2 plant and rebuilding and strengthening the factory’s perimeter wall. Some of these activities are still on-going and expected to be completed by end of this year.