PANAMY ... Aug09

PANASONIC MALAYSIA PBT FOR 1QE JUN 2009 FLAT

PANASONIC MALAYSIA at its AGM held Aug 20, 2009 said that despite unfavourable operating conditions in FY2009, the Company was able to achieve continued revenue growth and stable earnings; whilst maintaining a steady cash position and healthy level of Shareholders' Funds.

GAIN FROM PROPERTY DISPOSAL
Revenue for FYE Mar 31, 2009 increased by 6.8% to RM 601m. The Company also reported PAT of RM50m compared with RM53m in 2008; mainly due to a Gain from disposal of property recognized in 2008 and lower Interest Income earned in the current financial year totaling RM5.4m.

The Company was able to mitigate the impact of the decrease in profit through concerted efforts to increase sales and to intensify cost reduction activities.

1QE JUN 2009 PBT FLAT
For 1QE Jun 30, 2009, the Company was able to achieve Revenue of RM 155.9m which was comparable to last year's corresponding quarter's Revenue of RM 156.6m. Despite the slightly lower revenue, the Company managed to improve PBT to RM 14.9m in 1Q - which was a mere RM0.1m compared RM14.8m recorded last year.

2010 PROSPECTS
The current global and economic condition is likely to remain challenging throughout 2009 and 2010. However, the Company has adopted sound business policies focusing on sales expansion and developing a keen sense of quality awareness in all employees.

The Company will focus on the development of equatorial region-oriented products with emphasis on sales to the Asian region; to strengthen in-house development capability by further upgrading of technology skill and development facilities and to enhance manufacturing innovation with continuous improvement activities to build a strong manufacturing base.