Contact Us
Email: organic@mail.com
Phone: +1 (800) 985 125 479
Address: 103 Reade St, New York NY 10013
Follow Us

    Chairman’s Statement

    organic
    Dear Shareholders,

    PSC Corporation, having celebrated 50 years of growth, is now focused on the next phase of our journey.

    To remain competitive in an ever-evolving market, the company will prioritize innovation, sustainability, and digital transformation. By leveraging advanced technology, expanding its digital presence, and incorporating sustainability into product lines, PSC aims to maintain our position as a forward-thinking industry leader. Our iconic brands, including Royal Umbrella rice and Fortune tofu, reflect a legacy of quality and consumer trust, which will continue to be nurtured while exploring new growth opportunities in emerging markets.

    Looking ahead, PSC’s strategy centres on building lasting connections with future generations through research and development, e-commerce expansion, and strategic partnerships. The company is committed to creating value-driven products that meet the changing preferences of modern consumers. With a focus on preserving our legacy and embracing future growth, PSC is ready to take the next step in ensuring our continued success for decades to come.

    FORAY INTO COFFEE MANUFACTURING & RETAIL

    The acquisition of a controlling 51% stake in Kim Guan Guan Coffee Trading Pte Ltd (KGG) in May 2024 marked a significant milestone for the Group as we embarked on a strategic expansion into the coffee manufacturing and retail sector. With a rich legacy spanning almost 40 years, KGG is a renowned brand that has become a household name in Singapore’s coffee industry. Its strong reputation for quality and consistency has established it as a dominant market player, making it an ideal addition to the Group’s portfolio. By acquiring KGG, the Group is poised to leverage its expertise and heritage in the coffee industry to drive growth, with a key focus on expanding into the fast-growing China market.

    FINANCIAL HIGHLIGHTS

    In FY2024, the Group’s net profit for shareholders rose 4.4% to S$22.8 million, driven by a 1.4% increase in total revenue to S$488.6 million, mainly from stronger sales in Singapore and Malaysia’s Consumer Business. This was partially offset by lower sales in the Packaging Business in China due to increased competition and a weaker Renminbi. The Group’s gross profit margin remained stable at 24.0%, while total assets grew 4.8% to S$598.9 million. Looking ahead, the business environment is expected to become more challenging due to rising costs and global trade tensions.

    DIVIDEND

    In respect of the Group’s FY2024 performance, the Directors have proposed a final dividend of 1.3 Singapore cents per share. Combined with the interim dividend of 0.5 cent paid earlier in 2024, the total dividend payout for FY2024 will amount to 1.8 cents per share, which is similar to what was paid out in the preceding year. Subject to approval at the upcoming Annual General Meeting on 25 April 2025, the final dividend will be disbursed on 18 June 2025.

    GROWTH STRATEGY

    PSC is focusing on strategic expansion to strengthen our competitive edge by scaling operations, diversifying our product portfolio, and enhancing brand awareness. The company aims to accelerate growth through trusted brands, a strong network, and operational excellence. In addition to brand building, PSC is increasing efforts to bring in more agency products to meet market demand and expand our presence in key markets like Singapore and Malaysia, while exploring new growth opportunities abroad. The Packaging Business aims to boost productivity, enhance product quality, and improve cost and energy efficiency by investing in machinery upgrades and implementing a high-tech corrugating line at the Suzhou plant.

    SUSTAINABILITY

    We are committed to sustainability, focusing on both environmental care and creating value for the community. To guide us, we are working with consultants to create a sustainability roadmap, including governance, decarbonization strategies, and clear targets. We have also adopted a new sustainability mission statement – “PSC is a leading consumer essential provider that strives to protect the environment by prioritizing resource efficiency in our business operations and responsible sourcing in our value chain.” Beyond environmental efforts, our teams stay active in the community with volunteer work, charitable projects and donations, reflecting our dedication to positive impact and support.

    APPRECIATION

    Looking ahead, the Group remains optimistic about the growing consumption demand in the region. We are committed to leveraging our extensive distribution network, marketing expertise, and our ability to build strong brands and deliver quality products to meet these demands.

    I would like to take this opportunity to express my sincere appreciation to my fellow directors, the senior management team, and all our staff for their dedication and hard work, particularly during such challenging times. At the upcoming Annual General Meeting, Mr. Chandra Das and Mr. Lim Swee Say will be retiring as Directors of the Company and will not be seeking re-election. I would like to extend my heartfelt gratitude for their invaluable contributions to the Board and their dedication over the years. Their guidance and expertise have been instrumental in our journey, and we greatly appreciate their service.

    I am also deeply thankful for the continued support from our customers, business partners, suppliers, and shareholders. Together, let us look forward to a successful and prosperous 2025!

    Dr Goi Seng Hui
    Dr Goi Seng Hui
    Executive Chairman