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Public company info - Great Harvest Maeta Holdings Limited , 03683.HK

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Great Harvest Maeta Holdings Limited, 03683.HK - Company Profile
Chairman Yan Kim Po
Share Issued (share) 953,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Marine & Harbour Services
Corporate Profile Business Summary: The Group is principally engaged in chartering of dry bulk vessels and property investment and development. . Performance for the year: The revenue of the Group decreased from about US$16.4 million for the year ended 31 March 2019 to about US$12.2 million for the year ended 31 March 2020, representing a decrease of about US$4.2 million, or about 25.5%. The Group turned from a profit of approximately US$10.1 million for the year ended 31 March 2019 to a loss of approximately US$10.0 million for the year ended 31 March 2020. Business Review The Group’s vessels were under sound operation from 1 April 2019 to 31 March 2020. Currently, the fleet size is 319,923 dwt and the average age of the fleet is 14 years. The fleet maintained a relatively high operational level with a charter-out percentage of approximately 92.07% throughout the year, which included a loss of approximately 76 days of charter time caused by dock repair for three vessels and a loss of about 23 days of charter time caused by COVID-19. The average daily charter hire income of the vessels was approximately US$8,566 per day, which is about 25% lower as compared to the income level of last year, which is basically in line with the market index level of the same type of vessel. For the year, the fleet maintained a relatively high operational level since the fleet achieved a sound record of safe operation with no adverse incident or downtime caused by various incidents during the year. At the same time, the Company has made careful plans and arrangements for dock repair to reduce the repair time to a lower level. Although the Group were subject to the impact of COVID-19 disaster this year, the Company has worked hard to reduce the actual loss to the lowest level. All freight rate and charter hire were basically received in full with no receivables of significant amount. The Group was able to exert stringent control over costs and expenses in the course of vessel management and strove to minimise voyage expenses, so the management expenses of vessels were also basically within budget. In order to reduce operational risks and achieve better operational efficiency, the Group will continue to uphold its proactive and prudent operating strategies and seek to charter out its vessels to reputable charterers while endeavouring to provide the best services to charterers, so as to maintain a favourable market image for the fleet. Prospects: Given the fluctuation in the spot freight market, the Group will maintain its prudent operating strategies by enhancing the daily management of vessels, providing better transportation services to customers and chartering out its vessels to more reputable and reliable charterers at higher rates, thus generating more operational income for the Company. Meanwhile, the Group will strictly control its operating costs and reduce all unnecessary expenses.

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