PCH Holdings says decline in revenue owing to not selling subsidiary firms
View(s):Not selling any major stake in the companies under PCH Holdings has declined its revenue, according to Chairman S. H. M. Rishan.
“Our management system and style, along with our socially responsible use of the stakeholder model of corporate governance, has worked in the past, but we have learnt from global and local challenges, and our thinking patterns have evolved to adjust to te volatile socioeconomic market conditions, thus incorporating more emergent strategies,” Mr. Rishan has said in the company’s annual report for this financial year.
He has said that another factor owing to the decline has been the negative financial performance of PCH Holdings’ subsidiary businesses unfavourably impacting the group, and the management has gone through a careful review procedure to rectify and overcome any inefficiency, in order to create a more productive sustainable operation.
“We are confident these changes have resulted in a positive effect that can be witnessed in the future financial year. The supervisory role that PCH Holdings PLC plays on the companies under its wing creates the freedom for those companies to concentrate solely on selling thus bringing in more revenue,” he has said, adding that, “We are determined to grow by making the right decisions at the right instances when it comes to our investments, taking all the ground realities and the strategic opportunities present to us into account.”
This diversification and expansion strategy aids in the reduction of risk, the expansion of PCH Holdings’ knowledge base and most importantly, assuring the company’s shareholders that the management is committed to meeting and exceeding their responsibilities towards them, he has said.
It is necessary to constantly be vigilant about the future when making key investment decisions, which has been the pioneering spirit of the group, he has said, reiterating that PCH Holdings’ long term goals and strategic aims are directed primarily at shareholder returns; this is only achieved by continuing to invest in expansion and thereby increasing the group’s strengths under the management team.
He has said that there are malicious rumours being spread by certain parties that have an indentation of destabilizing the overall operations of the company in order to weaken the strong link that with stakeholders. “PCH Holdings PLC is by no means threatened by these actions and in fact proves our competitiveness and corporate edge.”
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