SHAH ALAM: Electronic and electrical components provider, EITA Resources Bhd (EITA) received full approval from its shareholders for its proposals during the group’s Annual General Meeting (AGM) held last week.
Amongst the proposals that were put forward, included the declaration of a first and final single-tier dividend of three sen per share in respect of the financial year 2011. This translated into a dividend payout of RM3.9 million, which represented 30.5 per cent of the group’s net profits for the 2011 financial year end.
EITA managing director, Fu Wing Hoong commented, “As we move forward in this new stage of growth as a listed entity, we are focusing on strengthening the foundation of our core businesses to build a sustainable future.
“We will continue to bid for new contracts, as well as increase our efforts in research and development (R&D) to enhance our products, in order to ensure that our products and services meet the ever-changing needs of our customers.”
Commenting on the local business of the group going forward, Fu said the group will ride on the pro-business policies and developments of government programmes such as the Economic Transformation Programme (ETP) to attract domestic and foreign direct investments with particular focus on the elevator segment.
“The recently obtained new TUV certification for our EITA-Schneider escalator will add on another increase to our product offering range,” he added. “This TUV certification is a mark of recognition for our product safety and reliability.
“For our marketing and distribution segment, we will continue to look out for new agency products to compliment our local market and our regional expansion. In view of these bright prospects of the regional potential and the sectors in which we operate, we are buoyant of the future outlook,” he concluded.
EITA registered a profit after tax of RM3.1 million for the first quarter ended March 31, 2012 with a revenue of RM40.3 million, mainly contributed by the marketing and distribution segment of the group.
This translated to earnings per share of 2.96 sen for the first quarter ended March 31, 2012.