Statement

Dear Shareholder,

AS CRB ARE LISTED IN 1EXCHANGE SINGAPORE, I AM PLEASED TO PEN MY INAUGURAL NOTE TO YOU.

2020 is a tough year for many of us. The Company’s performance is severely impacted by COVID-19 pandemic and as result we lost significant revenue acquisition opportunity. Despite the fact that we maintain our revenue almost equivalent to FY2019 financial result, the Company recorded a small profit for the financial year.

At the back of this, we successfully listed on 1exchange. 1exchange (“1X”) is the first private securities exchange in the leading global financial hub Singapore. Widely regarded as the third board in Singapore, 1X is a “light touch” and cost- effective private exchange designed specifically for businesses with high growth. It is Singapore’s first regulated private securities exchange and is under CapBridge Platform Pte. Ltd., and is regulated by the Monetary Authority of Singapore. Singapore Exchange (SGX) is a strategic partner and shareholder. The listing is also the First Cross-border and Direct Listing for 1X and done fully online due to the COVID-19 outbreak.

CRB the operator of Danai Spa listed approximately 28% of total shares outstanding at an aggregate value of RM6mil. 1exchange’s unique direct listing process enables CRB to list existing shares for trading on Singapore’s first MAS-regulated private securities exchange, enhancing its path to liquidity. CRB direct listing on 1exchange’s comes amid growing interest from our investors in private market opportunities.
As a fast forward looking company, we are focused on strengthening our prospects and have charted a new course for the transformation of the Company in order to deliver value in the long-term to our shareholders. We are planning to build more new Wellness Centre in Kuala Lumpur, Johor Bahru, Sibu and Kota Kinabalu and offer more medical wellness treatments as people becoming more aware to keep their health system optimum.

Economic Landscape

Despite global economy registered a weaker growth in Q2 2020 as a result of COVID-19 ravaging the economy and the continue tensions between China and the US led to increased policy uncertainty and put pressure on international trade, it doesn’t impact consumer spending on healthcare. Instead we saw a trend where healthcare spending increase as consumer wants to ensure they live healthily and happily.

As the domestic economy continued to be supported by private sector spending and growth in the services and manufacturing sectors, we continue to see consumer spending growth in the healthcare sector.

Financial Performance

Despite the challenging economic environment, the Group recorded a pre-audited revenue of RM 6.2 mil for FY2020 almost the same figure as FY2019.

Given the fact that profitability wasn’t much impacted, CRB is able to fulfil its promises to its investor while preserving cash flow to ensure the sustainability of the business.

Net assets per share stood at a ratio of 0.27 in 2019 while shareholders’ funds increase from 2019 to 2020 at the ratio of stood at 2.54 times.

Human Capital

People are a key pillar of growth. Only with strong and capable talent will we be able to propel the Company forward.

Towards this end, CRB is able to retain key talent despite the Movement Control Order (MCO) lockdown imposed on 18 Match 2020.

Along with CRB’s on-going talent development initiatives, the Company is geared towards cultivating a workforce that is fully engaged and aligned with the Company’s aspirations. Alongside this, the Company’s continuous recruitment programmes allow for the injection of new talent as we move forward to expand our pool of highly skilled employees.

Sustainability

Sustainability not only ensures the future of the Company, but it also allows us to grow in a responsible manner and contribute positively in social and environmental contexts. This is illustrated by our sustainability theme for FY2021, ‘Improving Today To Sustain Mother Earth’.

Demonstrating CRB’s commitment, this coming new Financial Year will see the Company uses more green materials in the business services and green processes in the Company’s daily operations.

The Company is also on the strong opinion to increase transparency in the Company’s reporting. In addition to that CRB’s sustainability priorities have been aligned in accordance with the United Nations Sustainable Development Goals and the Company is a signatory to the Global Compact adopting sustainable and socially responsible policies, and to report on these implementation annually.

Outlook

COVID-19 pandemic has impacted economies around the world. It is expected to have a prolonged impact on the global economy and the road to recovery will be a long journey. Many expected the economy will recover and rebound in Q2, 2021.

Without a doubt we do believe that the pandemic will take its toll in the local Malaysia economy and we are expecting a negative growth for the country in 2020. However with people getting more conscious of their health we are one of the industry among others that benefited from the crisis.

Acknowledgement

CRB welcome new members to the Independent Non-Executive Director, Maxshangkar and to the Board of Directors, Chris Daniel Wong as CRB Corporate Affairs Director.

The Board would like to express its gratitude to our management team for their dedicated efforts, as well as to all employees for their hard work throughout the year.

Our sincere appreciation to Capbridge, who also owns Singapore’s first regulated private securities exchange 1exchange (“1X”). Capbridge has been facilitating CRB listing on 1X since the early of the year 2020 and provided a lot of guidance for the listing, and as result CRB is the also the First Cross-border and Direct Listing with 1X.

To our shareholder, we thank you for placing your trust with us all these years. Equally important, we would like to thank our financiers, business associates, consultants and the regulatory authorities for their continued support.

Dennis Tan

Managing Director / Chairman