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On behalf of the Board of Directors, I am pleased to present the Annual Report and Audited Financial Statements of Versatile Creative Berhad for the financial year ("FY") ended 31 March 2017.


In Fy'17, the global economy was on the recovery phase after bottoming out last year. Better-than-expected performance in major economies, such as United States, India, China, Japan and European areas resulted Malaysian economy to benefit stronger demand from these economies and grew at slow recovery pace as compared to FY'16. The Malaysian Gross Domestic Product ("GDP") growth increased marginally from an average growth of 4.58% in FY'16 to 4.60% in FY'17.

Based on the report of the Malaysia Institute of Economic Research, the GDP is expected to rebound slightly to 4.7% to 5.3% in FY'18 at a moderate growth trajectory, fueled mainly by domestic demand.

Despite the positive forecast on Malaysian economic metrics, the Group is likely to continue to face a number of challenges, including measures taken by the Government to curtail recruitment of foreign workers; the continuing and prolonged weakness of the Ringgit, as well as the uncertain global economic and geopolitical. All these adverse factors are likely to affect the Group’s performance to varying degrees for the FY’18. Wherever possible, the Group will strive to mitigate the impact of the said factors operationally and financially

On a positive note, the Group’s aggressive efforts in seeking to leverage on equipment and product innovations, in tandem with securing new customers and implementing new business strategies, are beginning to gain attraction and are promising to engender a positive contribution to the Group’s performance in the ensuing financial year.



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