I-Berhad (7029-H) - Bursa Malaysia

18 The new Management has also undertaken a programme to upgrade the existing plant and machinery. A new
fin press has been added to the air-conditioning plant and several sectors of the plant were relocated and
re-laid out. The result of all these activities is that efficiency and productivity have improved and is expected to
improve further in the coming year.
The new Management team also recognised that while the existing product and process technology are of
international standing, the Company’s position would be eroded over time if we do not continue to enhance
our technology. In view of this, the Company has set up an Incubator to co-ordinate the research and
development work. The Company plans to grow the Incubator into a full fledged R&D facility over the
coming years.
The turnaround of the business could not have been achieved without the support of the staff. In this context,
the Company has been able to establish a good working relationship with the Union both at the national as
well as at the plant level. A new Collective Agreement has been entered into and all long outstanding
industrial relations issues have been amicably resolved.
Outlook for 2000
I am pleased to inform that the Company started the millennium auspiciously without any problem from the
Millennium Bug.
In the coming year, the Company is well placed to benefit from the turnaround of the Malaysian economy.
The benefits of the cost reduction and productivity improvement programme are expected to contribute to the
bottom line. At the same time, the Company will continue to invest in advertising and promotions to promote
the ‘i’ brand name.
Product wise, the Company will introduce the ceiling and cassette type of air-conditioners as well as extend
the existing cooling capacity up to 6HP.
Sales for the Group is expected to grow significantly and the Company is expected to be profitable in the
coming years.
Eu Hong Chew
Chief Executive Officer
Dated: 20 March, 2000
CEO’s Review ... cont’d