Sunzen Biotech Berhad has announced that as part of its business strategy transformation aimed at revitalising the financial performance will be to cease its of business operations of Animal Health division in order to reduce the financial expenditures and strengthen the financial performance f the company. The company said its AH division has been continuously incurring losses for the past financial years due to the challenging business environment which it said has strained the overall financial conditions. The division has been reporting annual loss since 2018 of RM7 million till 2022 recording a loss of RM4.5 million. Going forward, the Sunzen said it ill focus its resources on the existing business in human health and loan financing of which had respectively contributed 84.19% and 9.80% for the total revenue for the financial year ended 31 December 2022. It views the AH division of being no longer commercially sustainable and considers that the cessation of the business operations is in the best interest of the company and the shareholders as a whole. It added that the cessation of operations will not have any material effect on the operations and financial performance of the Company for the financial year ending 30 June 2024.
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