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Despite the increase in revenue, the operating profit did not perform accordingly mainly due
to one‐off operating expenses as below:
Employee bonus and welfare amounted to RM7.7 million, to cater for our employees’
immediate financial needs during the pandemic
R&D expenses of RM1.7 million
Professional charges of RM1.0 million for M&A exercise
Besides the above one‐off expenses, higher warranty provision and logistic cost
Mi is indicating to investor, MI bosses and company as a whole is a COMPASSIONATE and GENEROUS employer to all their employees. Bonuses pay to employee LIMIT UP during this pandemic. So the indirect message to investors is on Friday, be ready to be rewarded LIMIT DOWN.