Welcome, Cryptonaut, to the world of tomorrow. The year is 2089. Wait, or is it 2090? Heck, who even remembers years anymore. It is late in the 21st century anyway. Earth is a dystopian place, and world governments and countries have collapsed. Humanity is ruled by corporations and franchises, and the planet is plunged into […]

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Record GAAP and Adjusted Revenue for Fourth Quarter and Full Year 2021 Fourth Quarter $286 Million GAAP Revenue Up 67%, $280 Million Adjusted Revenue Up 54% Year-over-Year Fourth Quarter Adjusted EBITDA of $5 Million Positive for 6th Straight Quarter Record 523,000 Quarterly New Member Adds Up 39% Sequentially Record 906,000 Quarterly New Product Adds Up […]

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Crypto exchange FTX launched humanitarian fund that can potentially invest up to $1 million in grants and other investments like projects that can promote humanity’s welfare as we can see further in our latest cryptocurrency news. The FTX Foundation announced a “Future Fund” which will support various organizations that work on projects that empower the […]

These are the top NFT sales from the last seven days. 1. Bored Ape Yacht Club #4580 — $1.73M Collection: Bored Ape Yacht Club Selling price: 666 WETH With a bizarre combination of 3D eyes, a biker vest, solid gold fur, and a seaman’s hat, this BAYC makes its way to become the most expensive […]

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SHAH ALAM, Malaysia, Feb 25, 2022 - (ACN Newswire) - Leon Fuat Berhad ("Leon Fuat" or the "Group"), a manufacturer and trader of steel products, specialising in rolled long and flat products today released the Group's financial results for the fourth quarter ended 31 December 2021 ("Q4FY2021") recording 61.8% growth in profit after tax ("PAT") to RM29.09 million compared with RM17.98 million in the corresponding quarter of the preceding year ("Q4FY2020").
The Group is pleased to note that for the quarter under review, revenue increased by 27.8% to RM254.21 million compared with RM198.96 million in Q4FY2020 while profit before tax ("PBT") recorded a 106.5% increase to RM38.61 million compared with RM18.70 million.

On a segmental basis, revenue from trading of steel products registered a 26.5% increase to RM81.95 million while revenue from processing of steel products recorded a 28.4% rise to RM172.18 million. The trading segment's contribution to revenue stood at 32.2% in Q4FY2021 compared with 32.6% in the corresponding quarter of FY2020 while the processing segment's contribution stood at 67.7% compared with 67.4% in Q4FY2020.

For the financial year ended 31 December 2021 ("FY2021"), PAT grew 377.6% to RM135.98 million compared with RM28.47 million in the preceding financial year. PBT increased 418.1% to RM172.85 million compared with RM33.36 million while revenue gained 50.4% to RM886.58 million compared with RM589.58 million registered in FY2020.

Calvin Ooi Shang How, Executive Director of Leon Fuat said, "The Group's financial performance for the quarter under review was supported by higher revenue and better gross profit margin from the rise in average selling prices in both the trading and processing of steel products. For the financial year as a whole, revenue was also supported by higher overall average selling prices that also resulting in better overall gross profit margin".

"We are maintaining our cautious outlook for 2022 on downside risks arising from decelerating economic growth amid continued COVID-19 flareups across the world, diminishing policy support and lingering supply bottlenecks. While the Malaysian economy is expected to grow by 5.5% to 6.5% this year on continued external demand and private sector expenditure, we note concerns over new virus variants, inflation and financial stress that could weigh on economic recovery too".

"We will continue to monitor the movement of steel prices as we anticipate commodity price volatility due to global factors. Our monitoring will also continue for foreign currencies while negotiating forward contracts where necessary and having prudent inventory management. The Group will continue to actively address COVID-19 concerns by adhering strictly to standard operating procedures and having in place emergency response teams in three of our major subsidiaries".

Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comLeon Fuat Berhad ("Leon Fuat" or the "Group"), a manufacturer and trader of steel products, specialising in rolled long and flat products today released the Group's financial results for the fourth quarter ended 31 December 2021 ("Q4FY2021") recording 61.8% growth in profit after tax ("PAT") to RM29.09 million compared with RM17.98 million in the corresponding quarter of the preceding year ("Q4FY2020").

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With the debate on the energy consumption of various crypto blockchains raging on, a new report now shows how various top blockchain networks relate in terms of power consumption. According to a recent report by Ulrich Gallersdörfer, Lena Klaaßen, and Christian Stoll of the Crypto Carbon Ratings Institute, Polkadot topped when compared to a list […]

FTX considers acquiring the Japanese fintech liquid group company and it will integrate the offerings into the ecosystem as we can see further in our latest crypto news. Sam Bankman Friends FTX considers acquiring a Japanese Fintech Liquid Group company and all of its operating subsidiaries. Among them is Quoine Corporation one of the biggest […]

Web 3.0 is a buzzword that has been floating around the depths of the internet in recent years and is a term that is often used synonymously with Blockchain technology. I remember when I had first started seeing and hearing, “Web 3.0,” tossed around in various publications and articles, I didn’t fully grasp or comprehend […]

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Cryptocurrency and Blockchain careers are trending at all-time highs and the industry is growing at a rate so quickly that hundreds of jobs are being advertised faster than you can type up your resume. In fact, a survey performed by LinkedIn in 2020 found that Blockchain skills were the most in-demand skills in the United […]

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  What are Rivals of Aethers? Why everyone has been talking about it? Is it better and funnier than Super Smash Bros.? Keep reading. We’ll answer these questions down below.    RoA Review: What Is Rivals of Aether? Is It Worth It In 2021? Rivals of Aether is a 16-bit platform fighting game based on […]

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