MPI seen to face short-term glitches

PETALING JAYA: Semiconductor player Malaysian Pacific Industries Bhd (MPI) is expected to face short-term challenges that may impact growth in the financial year ending June 30, 2023 (FY23).

For its latest quarterly results, the group’s net profit rose 9.4% to RM81.36mil for its third quarter ended March 31, 2022 (3Q22) from RM74.37mil a year ago, thanks to improved performance across all geographical segments.