KUALA LUMPUR: Joe Holding Bhd (formerly GPA Holdings Bhd), (file pic) which is diversifying into the glove business, intends to turn around its existing core business of trading in automotive batteries and automotive lubricants.

       In its annual report 2021, the group said it would focus on improving its business strategy by streamlining its operations and pursue improvements in its products and services.

       The company also said it plans to undertake initiatives such as brand rebuilding to enhance its value chain and operating efficiencies.

       “The group also intends to continue to market and create brand awareness in the domestic market as well as the international market.”

       Additionally, the company said it has promptly taken steps to review its business processes and would continue to be steadfast in pursuing continuous improvements in its products and services.

       “We believe that with strong commitment from our group’s management team and support from our stakeholders, we will be able to weather the challenges ahead of us.”

       As the vaccination’s rollout is gathering much-needed pace around the world and in Malaysia, Joe Holding looks forward to a more predictable and “lesser disturbance” operating environment.

       “While this will not only ensure progress of the business, it will also mean a healthier recognition of revenue in the book.

       “Once the vaccination programme leads to herd immunity, we believe that economic conditions will be more favourable to businesses.”

       The company nevertheless acknowledges that business prospects remain challenging.

       “Picking up from where we left in the financial year ended March 31, the group’s business has also been negatively affected by the Covid-19 pandemic and the movement control orders in the country. The group is still bracing with the challenges that happened in the previous years,” it said.