Sunzen Biotech hopes to post record earnings in FY22

SHAH ALAM: Sunzen Biotech Bhd hopes to achieve record earnings for this financial year (FY22), underpinned by strong demand in its loan financing and traditional Chinese medicine (TCM) segments, said group managing director Teo Yek Ming.

The group posted its highest ever profit of RM3.64 million in FY17

Teo said the group will focus on these two segments, concentrating on its health and wellness subsidiary Ecolite and financing arm Finsource Credit respectively.

“These are two subsidiaries that are doing really well,” he told reporters after its AGM and EGM yesterday.

Its TCM segment registered a profit of RM4.15 million in FY21 compared with a profit of RM380,000 in the previous corresponding year mainly attributed to higher product margin and operational efficiency in tandem with higher sales orders received.

Its loan financing segment, which is a new business venture acquired last year, recorded RM1.09 million in profit for the period of seven months up to Dec 31, 2021 and RM1.75 million in revenue.

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