KESM registers RM54.2mil third-quarter revenue


“The lockdown in China and the prolonged MCO in Malaysia have disrupted and limited our production. Consequently, we experienced a lower volume for burn-in, testing and electronic manufacturing services, ” it said

KUALA LUMPUR: KESM Industries Bhd, an independent burn-in and semiconductor testing services provider, posted a RM3mil net loss in the third quarter ended April 30 as the lockdown in China and prolonged movement control order at home disrupted its operations.

This was the company’s first quarterly loss since January 2013.

KESM told Bursa Malaysia yesterday that its revenue in the third quarter fell 27% to RM54.2mil.

“The lockdown in China and the prolonged MCO in Malaysia have disrupted and limited our production. Consequently, we experienced a lower volume for burn-in, testing and electronic manufacturing services, ” it said.The company expects demand for its services to remain “dull” for the rest of the year.

“Our priority is to focus on improving asset utilisation and aligning cost structure with production levels, ” it said.

“While remaining cautious in our capital expenditure, the group will nonetheless make appropriate capital investments in partnership with key customers, ” it added.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

KESM Industries , lockdown , China , loss , quarterly , Bursa , MCO , Malaysia ,

   

Did you find this article insightful?

Yes
No

Next In Business News

Apple sees revenue growth accelerating after setting record for iPhone sales, China strength
ANALYSIS-Chinese retail banks gain consumer lending clout as fintechs fall out of favour
EXPLAINER-How retail traders squeezed Wall Street for bets against GameStop
Oil prices end mixed, despite big U.S. crude stock drawdown
Fed still in crisis-fighting mode as recovery appears to moderate
GLOBAL MARKETS-Stocks tumble on recovery fears, US$ climbs
Ringgit set to shine this year
Bonds in India head for losses with near-record debt sales seen
Digi net profit for FY20 at RM1.22bil
Petronas stays as most valuable Asean brand

Stories You'll Enjoy


-->