Cnergenz 1Q net profit at RM3.64mil

Cnergenz Bhd chief executive officer Lye Yhin Choy

KUALA LUMPUR: Cnergenz Bhd, which was listed on the ACE Market of Bursa Malaysia on Tuesday, posted a net profit of RM3.64mil in the first quarter ended March 31.

After excluding one-off expenses relating to the initial public offering (IPO) amounting to RM160,000 incurred during the period, the company’s pretax profit and net profit stood at RM5.03mil and RM3.8mil, respectively.

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The Electronics manufacturing solutions provider posted a revenue of RM36.9mil in the first quarter primarily contributed from the sales of standalone surface mount technology (SMT) machines and equipment constituting 60.9% of its total revenue.

In addition, sales generated from the provision of integrated solutions segment contributed 31.2% to the total revenue.

Chief executive officer Lye Yhin Choy said: “Manufacturing activities remained robust in 1Q leading to the continued demand for our integrated solutions in the electronics and semiconductor industries. We have also seen a rise in demand for smart factory solutions as customers look to automation to solve manpower woes.”

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“We will continue with our plans that we have shared in the run-up to our listing, including the expansion of our facility to enable us to scale up our operations, as well as strengthening our R&D activities to develop new and innovative integrated systems and solutions to the market.

“To-date, we have secured purchase orders totalling RM82.48mil, which we expect to fulfil by the end of 2022,” he added.