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.

ALSO READ: Cnergenz makes debut on ACE Market at 60.5c a share

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.”

ALSO READ: Cnergenz’s IPO oversubscribed by 40.32 times

“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.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Cnergenz , IPO , Lye Yhin Choy

   

Next In Business News

China's central bank renminbi liquidity arrangement includes Malaysia
Global M&A braces for dry spell as boardrooms put expansion on hold
CPO futures market to see technical correction next week
Fed policymakers embrace more rate hikes, markets a little less
Tokyo Gas begins synthetic methane trial using green hydrogen
Bruised US stock investors brace for more pain in second half of 2022
An ‘AAA’ move?
A ‘Volcker recession’ in the making
Real stress hurts bank buybacks
Masayoshi Son’s eternal optimism

Others Also Read