KUALA LUMPUR: VS Industry Bhd
has earmarked about RM60mil capex in FY24, which will be channelled towards optimising costs.
A part of the capex will be used to enhance automation levels to lower manual labour costs, as well as expand the solar photovoltaic (PV) system at its headquarters, i-Park @ Senai Airpot City in Johor, to other facilities to meet environmental, social and governance commitments, said managing director Datuk SY Gan.
In comments following the group's 41st annual general meeting, he also shared that VS is upgrading its capabilities to strengthen its vertical integration capability.
"We are pleased to share that the value chain enhancement project we embarked previously has charted good progress. The group also has other value chain enhancement initiatives in the pipeline.
"On balance, we are confident to navigate through the headwinds by leveraging on our lean balance sheet with low net gearing and healthy cashflow to emerge stronger than before,” he said.
In FY23, VS's total dividend payout amounted to 2.2 sen, which represented a 47.4% payout based on FY23 earnings per share of 4.66 sen, exceeding the group's policy of a 40% payout of net profit.
