PETALING JAYA: MI Technovation Bhd
remains positive about fulfilling its long-term business strategy to strengthen its position as a comprehensive solutions provider.
In a filing with Bursa Malaysia, the semiconductor company said it concluded the third quarter of its current financial year with an increased topline.
It said this was despite the global semiconductor market facing mixed growth and contraction both segmentally and geographically, which caused market uncertainty.
For its third quarter ended Sept 30, 2023, the company’s net profit dropped to RM14.16mil from RM20.25mil in the previous corresponding period, mainly due to a RM3.58mil withholding tax paid in relation to the dividend received from its Taiwan subsidiary during the quarter.
Meanwhile, revenue grew to RM98.45mil from RM89.66mil a year earlier.
Basic earnings per share stood at 1.58 sen versus 2.26 sen previously.
For the nine-months period ended Sept 30, 2023, the company reported a lower net profit of RM43.29mil compared with RM51.75mil in the previous corresponding period, while revenue stood at RM259.35mil compared with RM272.33mil previously.
Going forward, the company said it remains aggressively optimistic about its prospects for the current financial year and beyond, with its comprehensive and well-structured corporate roadmaps and leadership.
