http://forum.lowyat.net/ Tue, 06 Oct 2026 02:13:52 +0800 FeedCreator 1.7.2 http://forum.lowyat.net/topic/1096993 to all experts, any idea on this counter?? is it good to buy now??<br /><br />[addedon]July 15, 2009, 11:38 am[/addedon]Here some news on Hovid in March.....<br /><br />In the red since 1QFY2009, pharmaceutical company Hovid Bhd did not manage to staunch the flow of red ink as the company reported another quarter of losses in 2QFY2009. Its financial year-end is June 30. Its CFO Andrew Goh explains that the losses were incurred by the group’s subsidiary Carotech Bhd, which makes phytonutrients and biodiesel. The group’s pharmaceutical business remains profitable.<br /><br />“The losses (at Hovid Group) arise from the Carotech Segment, which is caused by unrealised foreign exchange loss arising from the revaluation of our US-dollar denominated loans due to the weakening of the ringgit,” he explains in an email.<br /><br />Even so, the group recorded lower revenue for the cumulative period, mainly due to lower selling prices for biodiesel and oleochemical products in tandem with lower CPO prices. <br /><br />Sales from abroad make up 76% of Hovid Group’s total sales, with most of it coming from Europe because of the sale of biodiesel to the European Union. To tide itself during this challenging period, the group aims to improve efficiency and reduce costs while looking at new ways to increase sales, says Goh.<br /> Foreverwin Stock Exchange Wed, 15 Jul 2009 11:26:04 +0800