KUALA LUMPUR (October 5): Lingerie maker Caely Holdings Bhd is ramping up production of sheet masks and has allocated around RM 5 million in working capital for product diversification.
“Going forward, Caely will launch more new products to drive sales in the coming months with the hopes of ending the year on a high note under the new management,” the company said in a statement Tuesday.
Caely, based in Teluk Intan, Perak, manufactures clothing such as homewear, sleepwear, athletic and sportswear, and children’s wear. It also produces cloth masks specially designed for those who wear headgear such as hijabs and turbans.
The company, which has been manufacturing lingerie since 1986, said it recently diversified its production lines to include reusable sheet masks that comply with ISO 13485 produced commercially in response to Department of Health advice to “double the mask.” in the midst of the presence of the Covid-19 Delta variant.
Caely, who has seen changes in the boardroom since last August, said she is leveraging the experience of its new executive chairman, Datuk Wira Louis Ng, in digital marketing and e-commerce to increase its online presence in order to take advantage of new marketing trends.
The company said it is offering personalization for corporate or wholesale orders in tandem with the relaxation of the movement control order in some states where the majority of the workforce has returned to work. at full capacity.
For the first quarter ended June 30, 2021 (1QFY22), Caely came back in the dark with net profit of RM 740,000 on net losses of RM 1.32 million in the same period last year and 14.4 million RM in the previous quarter.
The company attributed the improvement in performance to improved manufacturing sales, to RM 1.2 million received from the real estate and construction receivables segment (the amounts of which were written down in the prior year) and gains from the sale of a subsidiary.
Revenue increased 23.8% to RM 13 million from RM 10.5 million last year, while decreasing 9% from RM 14.3 million quarter on quarter.
In a Bursa Malaysia filing, Caely said export sales of underwear have gradually picked up since the time the global economy was hit hardest by Covid-19 in 1QFY21.
Caely said it is taking proactive steps to move forward by leveraging the e-commerce business and expanding its direct selling and retail segment by collaborating with potential business partners with the goal of expanding its product line and point-of-sale accounts in order to improve its overall business. performance.
Caely’s stock price fell 21.7% from its annual high of 46 sen in January to 35.5 sen on Tuesday, valuing the company at RM 90.09 million.