Hello and Good Day!
I hope you have a great start in the new year 2022.
2022 for all intent and purpose is looking to be another very challenging year, both in our personal life and business. We carry forth the new Covid-19 variant in Omicron from end 2021 that is milder in effects but more virulent. Supply of components, especially semiconductors are not able to meet the strong demand. This is further aggravated by supply chain disruptions by the US-China trade frictions, necessitating new supply chain business model. Inefficient sea shipments, including port congestion, longer turnaround time of ships and containers are still prevalent. Labor supply is also tight, and employees are re-evaluating how they intent to engage in the job market after long period of working from home.
Amidst the challenges above, human ingenuity and resiliency are always there to adapt and overcome them. We can expect most circumstances above will ease with the population learning to live with COVID-19 together with vaccines and drugs, improvements in semiconductor supply, US-China trade frictions remaining as is, global supply chain evolves to a new optimal point of operation and the workforce finds its footing in the new normal.
Mentor, as a supply chain services company, is inevitably a key player in providing the continuity of our services to our customers. We have seen more leverage of our Business Continuity Plan across our global footprint. We are pleased to mobilize these plans for our customers’ benefits. Additionally, our global footprint will enable us to support a more distributed global supply chain business model going forward. With COVID-19, we also support emergency requirements in procuring PPE materials and participate in Antigen Rapid Test kitting.
Apart from the traditional supply chain services in the IT industry where demand stays robust, we expect growth in non-IT industry in conjunction with cross border trade and healthcare. This year will also mark our foray into healthcare sterilization packaging business. Our Environmental, Social and Governance effort will be strengthened and formalized further with key measures this year together with the Group’s new Director of Sustainability. Overall, thanks to the continual strong and collaborative support from our customers, business partners and our dedicated staff, we are cautiously optimistic in business in 2022!
I wish everyone a better 2022 with excellent health and prosperity!
Mr. Lim Kok Khoon
CEO of Mentor Media Ltd