Globetronics posts lower Q3 earnings, appoints new COO


KUALA LUMPUR: Globetronics Technology Bhd's earnings declined in the third quarter due to "lower volume loadings from certain customers" and cautioned that the Covid-19 uncertainties may impact its financial results.

Net profit for the three-month ended Sept 30 fell 10% to RM16.3mil from RM18mil made a year ago.

Sales dropped 15% to RM55.6mil.

In June, Globetronics, which assembles sensors for a smartphone maker as well as auto chip components, voluntarily closed two of its factories for several days after several workers were tested positive for Covid-19.

"The group has taken strong initiatives to mitigate to exposure and disruption in the supply chain," the company said in a filing today.

Separately, the company has announced the appointment of Heng Charng Yee as its new chief operating officer. Charng Yee, 37, is the daughter of Datuk Heng Huck Lee, Globetronic's executive director and chief executive officer.

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