KUALA LUMPUR: UWC executive director and group CEO Datuk Ng Chai Eng is optimistic over the outlook of the global semiconductor industry.
He said that despite the ongoing economic and geopolitical developments trimming the indstry's growth projection, the global market remains valued at over RM2.5 trillion in 2023.
"There is huge opportunity to chip away part of the market to boost our market share," he said in a statement.
Ng announced the integrated engineering supporting services provider's results for the first quarter of its 2023 financial year, which showed a 27% year-on-year (y-o-y) jump in net profit to RM29.2mil.
The group's earnings per share rose to 2.66 sen in the quarter as compared with 2.09 sen in the same quarter in 2021.
Revenue meanwhile was up 22.3% y-o-y to RM92.1mil during the quarter.
"Not only UWC has yet again delivered another set of impressive results despite the challenging environment, the Q1FYE2023 net profit is more than double that of pre-Covid Q1FYE2020’s net profit.
"The improved financial performance is backed by the strong demand from our clients especially from the semiconductor field. With all the expansion plans we had, we are well poised to seize any opportunity which may arise from that field," said Ng.
