KESM affected by drop in US car sales


  • Auto
  • Wednesday, 23 Sep 2020

“The significant drop in the US car sales and the impact of the pandemic hit us extremely hard, ” executive chairman and chief executive officer Sam Lim said.

PETALING JAYA: KESM Industries Bhd fell into a net loss of RM3.28mil in its fourth quarter ended July 31 from a net profit of RM2.29mil a year ago.

The burn-in and test service provider that operates within the tech industry space saw its revenue for the quarter falling to RM46.26mil from RM70.90mil in the same quarter a year ago. Net loss per share was at 7.63 sen against 5.33 sen a year ago while dividends per share is at 6 sen.

“The significant drop in the US car sales and the impact of the pandemic hit us extremely hard, ” executive chairman and chief executive officer Sam Lim said.

The company’s board is proposing a final tax exempt dividend of six sen to be approved at the coming AGM on Jan 7,2021.

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KESM , car sales , Sam Lim ,

   

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