Chairman's Statement

Extracted from Annual Report 2018

Dear Shareholders,

On behalf of Scanwolf Corporation Berhad, it gives me great pleasure to write this letter. With this letter come my warmest greetings to each and every one of you. As with the past year, I am most pleased to present to you the Audited Financial Statements of Scanwolf Corporation Berhad (“Scanwolf”) and its Group of Companies for the financial year ended 30 June 2018 in this volume of Annual Report.

The Malaysian economy has been growing steadily over the past 12 months. In this time, she also witnessed a change in government in Malaysia after 61 years of independence. Internationally, the world economy remains fluid due to a series of economic announcements made by the United States of America and China, two of the world’s largest trading economies. We continue to remain concern on the probable repercussions of more new American trade policies that could lead to a trade war between America and its major trading partners in Europe and especially China which will inadvertently also affect trades in this region. Together with the Board of Directors and senior management of Scanwolf, we continue to take note and are careful of the world’s economic landscape affecting Asia and Malaysia.

Scanwolf is mainly involved in two very challenging industries in Malaysia and globally. The property development industry in Malaysia remains very challenging and the plastic business in the world remains very competitive. Scanwolf’s total operation has remained stable and it is expected to improve in the years ahead. This speaks volumes of our highly professional Board of Directors, management and staff.

Moving forward, the Group has worked diligently to increase productivity by prioritising efficiency in our operations and also to aggressively seek new businesses in various lucrative markets. Consistent growth in revenues and earnings in the future will be the Board of Directors’ priorities. The Board will continue to strive to create and enhance value for its stakeholders with new business strategies.

Being your Chairman, I would like to record my sincere appreciation to all the shareholders, the Board of Directors of Scanwolf, all our valued customers, business associates, suppliers, bankers, fund managers, investment analysts, all media personnel as well as the regulatory bodies and the management & staff of Scanwolf group of companies for their continued support and hard work over the past year. From the bottom of my heart, a big thank you.

To all parties and especially the Board of Directors, I appreciate your continued support and sincere friendship. Again, thank you.

Yours most sincerely,

Y.Bhg. Dato' Ong Boon Aun @ James Ong
D.I.M.P., S.M.P., A.A.P., A.M.P., A.M.K., A.M.N., B.K.M., P.M.C.
B.B.A. (UM-USA), M.B.A. (NU), M.Sc. (CCSU)
Independent Non-Executive Chairman
Board of Directors.