Mi Technovation 3Q pre-tax profit increases

PETALING JAYA: Semiconductor manufacturer MI Technovation Bhd has stated that declining turnover from its semiconductor equipment business unit (SEBU) led to it posting a 21.3% year-on-year (y-o-y) drop in its revenue for the third quarter ended Sept 30, 2022 at RM89.7mil, compared to RM114mil in the corresponding quarter of last year.

Mi Technovation, in a filing with Bursa Malaysia, revealed that SEBU contributed RM34.9mil to group top line for the quarter in review – or 39% of total revenue – but saw a fall of RM29.3mil, or 45.6% y-o-y, from the 2021 figure.