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Fima CORPORATION Berhad
(197401004110) (21185-P) •
Annual Report 2020
34
Manufacturing Business Model
Design &
Origination
Logistics
Services
Product
Upgrades
Technical
Support
Forensics
Solution &
Infrastructure
INTEGRATED
TECHNOLOGY
BASED SOLUTION
INNOVATIVE
ORGANIZATION
Product
Development
Business
Development
Research
& Development
CORE
VALUES
Excellence
• Service level guarantee,
support & maintenance of
end-to-end solutions
Trustworthy
• Partner you can trust,
reliability, financially strong
• Ethical
Quality
• Products and services
• Deliver proven solutions
TRUSTED
BRAND
Strategic
Technical Partners
Supply
Chain
Account
Management
NEW MARKET FOR
EXISTING
PORTFOLIO
GLC
Vendor
(International)
Government
Prospects
As noted earlier, increased competition
in the security documents industry has
served to further increase pressure on the
division’s margins. The emphasis this year
would therefore be to maintain our core
markets and adapt to the ongoing secular
challenges. Pleasingly, there have been
some new business wins and contract
renewals in the certificates and passes
subsegments in this current financial year
which we hope will help us maintain or
grow earnings.
At the same time, we have to manage the
economic fallout of Covid-19. As a result
of the rapid contraction of air travel and
stringent border controls the world over,
we have seen a reduction in demand for
travel documents. We are also anticipating
declines in other segments with orders
for certain products being deferred or
cancelled. Although we’re unable to predict
the extent and duration of declines at this
point, we do expect margin pressures in
this current financial year as we lose some
of our economies of scale.
Building organizational capabilities and
digital competencies will also be a focal
point in this current financial year as we
position and shift our business towards
developing integrated end-to-end, next-
generation solutions and services that can
open up new market opportunities and
enhance our competitiveness. This new
capability will be developed in concert
with technological advancements and
emerging customer needs demanding
more personalized, seamless and
“The emphasis this
year would therefore
be to maintain our
core markets and
adapt to the ongoing
secular challenges.”
secure solutions. The ability to identify
and capitalize on these needs and
technological changes is key to improving
the division’s positioning in a competitive,
ever-evolving market.
Manufacturing Division : Year of challenge