The COVID-19 Pandemic continued to heat in 2021H1. In January, the subsidiary TC suspended work for one month because of the infection of employees; and Malaysia implemented a 3-month first-phase Full Movement Control Order (MCO) in June. Because of the company’s inability to produce and deliver during the MCO, inventory prices fell, and sluggish losses and idle capacity losses increased significantly compared to last year. In addition, a fire in the TC No. 2 plant resulted in more disaster losses in November 2021. So, the EPS loss was about NT$ 1.08. The board of directors decided not to distribute the surplus in 2021, to retain sufficient funds for future business expansion.
Techcential-KY is the top 5 wooden bedroom furniture manufacturers in Malaysia. It is mainly engaged in the research and development of wooden bedroom furniture. It has also invested MYR10 million (about NT$72.804 million) to enter the kitchen cabinet market. Benefiting from the transfer order effect of the trade war, the company’s revenue in 2019 reached NT$1.387 billion, an annual increase of a record high of 28.05%.