Annual Report 2020
The current environment for the fibre optic market is very challenging. There is an over-supply of fibre optic cables globally and global demand for fibre optic cables dropped by 28% in 2019. This global over-supply has led to an influx of cheap fibre optic cable imports into Malaysia, which, in-turn, has negatively impacted local fibre optic cable manufacturers.
FY2020 was a difficult year for the fibre optic cables industry in Malaysia. We did not see a growth in demand for fibre optic cables in Malaysia. Fibrerisation programmes announced by the industry were not followed through and investments in fibre optic infrastructure got deferred.
On behalf of our Board of Directors, I would like to thank our customers, business partners and associates for their continued support and trust in us. Our heartfelt gratitude also goes out to our shareholders for their continuing support and confidence in Opcom.
In closing, I would like to also thank the Board, the management team and all employees of Opcom for their counsel, hard work, and commitment to continuously drive Opcom forward.
Dato’ Mohamed Sharil Bin Mohamed Tarmizi
Chairman and Independent Non-Executive Director