Comprehensive Overview

The Group was the second largest retailer of optical products in Malaysia in terms of revenue in 2018, accounting for approximately 7.1% of the market share. The Group provides a wide range of optical products, which generally include (i) international brands; (ii) the Group's own brands; and (iii) lenses, frames, contact lenses and sunglasses of manufacturer brands operated by the Group.

In August 2019, the Group launched its online sales platform, which focuses on selling its own branded frames to customers in Malaysia. As of the last practicable date, the Group's retail network (which includes 83 owned companies, 10 patented businesses and 2 authorized retail stores) was located in central, southern, northern and eastern Malaysian peninsula.

Risk Factors

According to Ipsos, the popularity of online shopping in Malaysia has increased in recent years. Since the Group mainly relies on the revenue generated by its retail stores, it may not be able to attract new retail customers who prefer online shopping or existing retail customers who choose to buy online, which has a significant adverse impact on the Group's business development and operating performance.