KUALA LUMPUR (Oct 19): ACE Market bound NWE Resources Group Bhd posted a net profit of RM2.8 million for the three months ended June (1QFY2027) driven by core sales and tax exemptions.
Revenue for the quarter stood at RM10.59 million, driven primarily by the distribution of personal care products and health foods, which contributed RM4.25 million or 40.16% of total revenue.
There were no year-on-year comparisons as this was the supplier of hospitality amenities first quarterly financial report announced in compliance with the ACE Market Listing Requirement.
The group's other big revenue contributor is its repackaging, manufacturing and supply of personal care products segment, which generated RM4.05 million, while the formulation and supply of health foods segment accounted for the remaining RM2.29 million.
The group recorded a low effective tax rate of 10.63% (versus the 24% statutory rate), bolstered by prior-year tax over-provisions and a 100% pioneer status tax exemption granted to its unit, NWE Biotech Sdn Bhd, for contract R&D activities until January 2029.
The group expressed cautious optimism for the remainder of the financial year ending March 31, 2027 (FY2027), citing resilient domestic economic conditions and Budget 2027 measure aimed at boosting household disposable income.
It added that the tourism sector continues to gain momentum under the Visit Malaysia 2026 campaign, further driving demand for the group’s hospitality amenities
Similarly, growing health and wellness awareness, alongside an ageing population, will continue to drive demand for its health food and personal care offerings.
NWE Resources is scheduled to list on the ACE Market of Bursa Malaysia on Oct 21. It plans to raise approximately RM28.6 million to fund product development, R&D expansion and manufacturing enhancements.