MPI expects short-term uncertainty in global semiconductor demand

KUALA LUMPUR: Malaysian Pacific Industries Bhd (MPI) expects the global semiconductor demand to remain uncertain in the short term.

“The group remains committed to focus on strengthening its business fundamentals and delivering its long-term business strategy,” MPI said in a filing with Bursa Malaysia.

The semiconductor company saw its net profit jump 75.4% to RM32.15mil in the second quarter ended Dec 31, 2023 (2Q23) compared with RM18.33mil in the same period last year.

Revenue, however, dipped 0.7% to RM522.7mil against RM526.4mil a year prior while earnings per share rose to 16.17 sen from 9.22 sen previously.

In the first six months to Dec 31, MPI posted a lower net profit of RM48.7mil on revenue of RM1.03bil.