Bioalpha posts RM37.8mil loss in FY20

KUALA LUMPUR: Health food maker Bioalpha Holdings Bhd made a bigger quarterly loss in the final three months of 2020 as the Covid-19 pandemic resulted in higher impairments of trade receivables and write offs.

The company registered a net loss of RM14mil in the last quarter ended Dec 31, worst than the RM9.7mil loss made in the third quarter.

For the full year, Bioalpha made a net loss of RM37.8mil on revenue of RM36.5mil.

The group, however, expects its performance to recover in 2021, supported by rebound in existing customers’ orders, higher contribution from China as well as orders from new customers.

"For the domestic manufacturing business, the Group continues its efforts to build a solid product pipeline, especially on immunity-related offerings, to cater to the demands of our existing ODM clients, while securing new customers," it said.

"At the same time, Bioalpha aims to fill the existing supply shortage of imported health supplements products in Malaysia due to trade disruptions arising from the lockdown measures," it added.

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