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DKSH Malaysia expects second-quarter performance to be affected by the pandemic. “But it is not going to be a disaster,” McLaren says, adding that its Famous Amos retail outlets had to completely shut down during the MCO period, but this was offset by strong sales from its grocery channel. DKSH Malaysia holds the master licence to operate the Famous Amos chain of retail outlets in the country.
As at end-March, DKSH Malaysia was in a net debt position of RM610 million, with cash balance of RM85.49 million while borrowings totalled RM695.53 million.
McLaren says the group may turn to the equity market to raise funds to pare down its debt.
As at April 30, DKSH Holding Ltd of Switzerland held a 74.31% stake in the group. The next largest stakeholder is Lembaga Tabung Angkatan Tentera, which owns 4.84% of the company.
In February, as the pandemic gripped the world, DKSH Malaysia decided not to pay a dividend for FY2019, in order to be well prepared for unexpected effects from the crisis.
Asked whether DKSH Malaysia would resume paying dividends this year, McLaren says it is not the company’s strategy not to pay dividends. “It is b