PROSPECTS FOR THE FINANCIAL YEAR ENDING 30 JUNE 2021
Strong cash position
We made substantial progress in our rationalisation plan to monetize non-core assets and
reduce operating cost. This is evidenced from disposals of non-core assets and loss-making
operations over the last 12 months which had improved our overall cashflow.
We have completed the fund-raising exercise from placement of shares and rights issue of
shares in November 2020 where we raised gross proceeds of RM63.2 million. We have
recently announced the disposal of our office building in Cyberjaya for RM24.2 million.
When completed, the disposal is expected to result in annual cash saving of RM3.4 million
plus surplus cash of approximately RM6.0 million to be channeled as working capital for
operations.
From operations, we managed to record positive cashflow of RM6.1 million for the six (6)
months ended 31 December 2020. This was achieved despite significant settlement and
reduction of our trade creditors made during the quarter as we also managed at the same
time to increase collection of payments from our customers.
With the fund-raising exercise, monetization of non-core assets and cash from operations,
our cash raising will be in excess of RM70 million. The strong cash position will give us the
resilience needed as we rebuild our business with new product lines and services in the
coming quarters

This is the worst results they can give, after that no more... you will see very good results for awantec...You lost your main customers that give you 85% revenue and you still get this results, this is consider good results