Vitrox said the group is confident of achieving steady growth and improvements in the semiconductor back-end sector.
PETALING JAYA: Vitrox Corp Bhd
, which saw its bottom line impacted by increased research and development (R&D) expenditure in the first half of its financial year 2024 (1H24), is cautiously optimistic about the group’s business prospects going into 2H24.
Amid the slower-than-expected global economic recovery, the technology company said it is poised to navigate the volatility and embrace the challenges ahead.
“The group is confident in achieving steady growth and improvements in the semiconductor back-end sector,” it said in an exchange filing yesterday.
To maintain its competitive edge, Vitrox said it will vigorously invest in R&D to deliver cutting-edge solutions.
This investment aims to capitalise on opportunities presented by Industry 4.0 and the artificial intelligence boom, while focusing on fortifying customer relationships and diligent cost management.
Vitrox also highlighted the commencement of the ViTrox Institute of Technology (VIT) in July 2024, a five-storey training and industrial research centre set for completion in 2026.
“VIT is set to be a beacon of excellence where engineers will pioneer groundbreaking R&D innovations,” it noted, adding it will serve as a premier education hub for nurturing the next generation of science, technology, engineering and mathematics talents.
With VIT, the group is aiming to address the talent shortage and elevate technological advancements in Malaysia.
For the second quarter ended June 30, 2024 (2Q24), Vitrox saw its revenue decline by 8.2% to RM137.2mil compared to RM149.4mil in the previous corresponding quarter. This decline was attributed to the slower pace of global market recovery, which affected sales demand for automated board inspection (ABI).
However, Vitrox said robust sales orders from machine vision systems , a type of technology that enables a computing device to inspect, evaluate and identify still or moving images, partially mitigated these effects.
