MPI rides on semiconductor boom

File pic shows MPI chips

PETALING JAYA: Semiconductor firm Malaysian Pacific Industries Bhd (MPI), controlled by the Hong Leong group, posted a 3.42% rise in net profit to RM40mil for the fourth quarter ended June 30 compared with the same quarter a year ago on higher revenue and a stronger US dollar.

The company said in a filing with Bursa Malaysia that revenue for the quarter was 12.84% higher, following the 20%, 4% and 6% higher revenue from the Asian, the United States and European markets respectively. It said net profit for the full year was up 12.94% to RM177.91mil on a revenue that rose 5.55% to RM1.54bil.