Jadi Imaging Technology (JIT) records a Q4 pretax loss of RM17.17 mil ($4million / €5.59million) for the quarter ending 31 March 2017.
JIT attributes to the decrease in sales volume of black and colour toner to the global economic outlook which continues to remain uncertain and ongoing price competition in the office printing industry.
To increase their global competitiveness, JIT will continue to intensify their R&D, and place a greater emphasis on developing higher value colour toners for use in colour and business printing.
Resins used in toner production have been produced in-house since 2013, and up to 90% of its toner formulations now incorporate its in-house produced resin and reducing reliance on imported resins, and enabling further cost savings.
JIT has also launched a new company based in Zhuhai, China. The company Zhuhai Jadi Imaging Technologies Co., Ltd (Zhuhai JIT) has commenced business operations and is distributing toner cartridges and bulk toner.
The board appointed two new directors effective 1st June 2017. Ms Liew Hock Yee as an executive director, having worked for JIT since 2010 as an accountant. She has a Bachelor of Commerce (Accounting and Finance), and before joining Jadi Imaging, she was an auditor with Ernst & Young, Malaysia for three years.
Mr Liew Kit joins as an executive director. The Twenty-Five-year-old has an MBA in Global Financial Services, and a BA in Business, Marketing & Branding.
Both of the new directors are related to Mr Liew Kim Siong who is a Director (Executive Chairman) and substantial shareholder of JIT.