SEDANIA Innovator Berhad (“SEDANIA” or the “Group”) is pleased to  announce its performance for Sixth Quarter (“6Q2024”) and 18-month (“18M24”) full financial year results ended 30 June 2024 (“FY2024”) to Bursa Malaysia today, marking a period of change and transformation in its pivot to  the consumer products and services sector.

The Group registered a total revenue of RM78.3 million for our unaudited 18M24 financial statement for FY2024,  a marked increase from a total revenue of RM38.35 million for our audited 12M24 financial statement for FY2022. The FY2024 performance demonstrates the accelerated growth achieved during the transformation period,  supported by a stable and resilient revenue foundation from its diversified consumer-based business model. The  Group reported a loss before tax of RM0.57 million for FY2024 attributed to a one-off impairment for its  Sustainable Energy segment, marking a decisive step in its transformation journey. 

“SEDANIA’s performance underscores a crucial phase in our ongoing transformation journey. Our current  quarter’s performance reflects our deliberate and strategic decision to recalibrate our Sustainable Energy  segment. This move is essential for laying a strong foundation for our future growth. The significant traction  gained in our Sustainable FMCG and Sustainable Consumer Tech segments is already propelling us towards a  sustainable business model. 

“As we move into a new phase for the Group, we are poised to turn this strategic realignment into a period of  sustainable growth and value creation for our stakeholders, reaffirming our commitment to improving lives  sustainably,” said Chairman Tan Sri Abdul Halim Ali.  

Commenting on the strong operational fundamentals of the Group, SEDANIA Managing Director Datuk Azrin  Mohd Noor said, “In the midst of our transformation, the Group demonstrated improving topline operational  performance with upward revenue trajectory. This is a testament to the resilience of our consumer-driven model. With this pivot, the inherent strength in our core businesses not only underscores our ability to navigate  challenges but also sets a solid foundation for sustained profitability. Looking ahead, our focused strategies in  Sustainable FMCG and Consumer Tech will drive our top- and bottom-line growth. 

“I am excited about the new growth catalysts on the horizon driven by Group CEO, Mr Ng Hock Guan and  supported by our Management team, while SEDANIA’s new Board Member, YAA Tun Md Raus Sharif (former  Chief Justice of Malaysia) adds to the Board’s strategic insights and perspectives.” 

“With new product launches and realignment of our cost model, our Sustainable FMCG segments, driven by the  Offspring and Tanamera brands, along with our Halal Original Brand Manufacturing (OBM) business, FA Herbs  Sdn Bhd, we are continuously improving our margins and enhancing our operational efficiency. SEDANIA’s  strategic objective for the coming financial year 2025 is to scale and foster growth across all business segments.” 

Here are some of the key business developments during the financial year:  

• Offspring: On 20 August 2024, Offspring Inc. proudly launched the FeatherAIR Diaper range, designed  specifically for sensitive baby skin and endorsed by leading paediatricians and dermatologists. This addition  to our 0% chemical, safe, and premium baby care range further strengthens our product portfolio. Offspring  also introduced its first Brand Ambassador, Zahirah MacWilson, enhancing the brand’s market appeal,  visibility and reach. 
• As-Sidq Tawarruq: Over the 18-month period, SEDANIA As Salam Capital facilitated Shariah-compliant  commodity murabahah transactions with an estimated value of over RM100 billion, reinforcing our  leadership in digital commodity trading. As of 30th June 2024, As-Sidq Tawarruq platform supports more  than 95 FSIs in their Shariah-compliant digital commodity trading transactions. 
• JOMHIBAH: A collaborative partnership with Hong Leong Islamic Bank Berhad (“HLISB”) with the objective  to offer financing on our fully digital JOMHIBAH platform was signed on 16th August 2024, representing a  significant milestone for SEDANIA As Salam Capital. The JOMHIBAH platform targets to onboard 4 FSIs this  year. As the unclaimed Islamic assets is growing at a rapid rate, which now stands at more than RM90 billion  and only 0.02% Muslims carried out Inheritance Planning and Management, we believe this presents a  significant market potential with proactive awareness campaigns on Hibah. 
• GoHalal Financing Program: Our collaboration with GrabFin Malaysia and Mitra Kembara for Umrah  financing marks a unique initiative to support Muslim Grab driver-partners in fulfilling their Umrah pilgrimage.  This programme exemplifies our commitment to creating inclusive and impactful financial solutions. 

“Our unwavering commitment to drive continuous growth compels us to adopt appropriate risk management  practices, regularly monitor our financial position, and take pre-emptive measures to ensure we continue to drive  positive value for our stakeholders,” Datuk Azrin emphasised.

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