Betamek adopts cautious approach amid economic uncertainties


Betamek executive director Muhammad Fauzi Abd Ghani

KUALA LUMPUR: Betamek Bhd, despite having comprehensive strategies and execution plans for the financial year ending March 31, 2025 (FY25), adopts a cautious approach due to current economic uncertainties.

“Factors such as the ringgit’s performance relative to the US dollar and the broader domestic and global economic climate warrant caution,” the electronics manufacturing services (EMS) provider said in a filing with Bursa Malaysia.

“The group will persistently monitor these conditions and implement measures to protect its business interests and profitability. Amidst potential risks, there is a cautious optimism about leveraging economic recovery trends and initiatives, setting the stage for another year of strong financial performance,” it added.

Betamek’s net profit fell 20.7% to RM4.5mil, or earnings per share of 1.01 sen in the fourth quarter ended March 31 compared with RM5.7mil, or 1.27 sen in the same period last year.

Revenue for the quarter rose to RM56mil versus RM55.9mil a year prior, primarily driven by the vehicle audio and visual products segment, which contributed RM43.5mil or 77.61% of the total revenue in FY24, while the balance was contributed by vehicle accessories segment.

In FY24, Betamek posted a 23% higher net profit of RM20mil on an 8% improvement in revenue to RM222mil.

Betamek anticipates a dynamic FY2025, bolstered by the recent joint venture with Shenzen Zhonghong Technology Co Ltd aimed at penetrating new Asean markets with advanced driver assistance systems and smart cockpit solutions.

It said the strategic acquisition of Sanshin (M) Sdn Bhd will diversify the group’s customer base and expand its international footprint, enhancing product offerings and market reach.

"Our performance in FY24 underscores Betamek's resilience and strategic vision amidst market challenges. The acquisition of Sanshin Malaysia and our joint venture with Shenzen Zhonghong Technology mark significant milestones that will drive our growth strategies in FY2025.

“We remain committed to innovation and excellence, and we are confident that these strategic moves will strengthen our market position and deliver long-term value to our stakeholders,” executive director Muhammad Fauzi Abd Ghani said in a separate statement.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

Betamek

   

Next In Business News

Linda Yaccarino shares her biggest moment of imposter syndrome from her last year running Elon Musk’s X
TA Securities sets 55 sen fair value for Go Hub Capital
KTI Landmark opens unchanged at IPO price of 30 sen
Ringgit gains against US$ in early trade
FBM KLCI to continue consolidation, oil and gold counters rally
Trading ideas: TM, MAHB, Bursa Malaysia, UEM Sunrise, MUI, Nestcon, BM Greentech, Sunview, Berjaya, Plytec, BWYS, LBS, IOI, Matrix, Poh Kong
Economy is set for steady rebound in 2Q
Bursa Malaysia may relocate to TRX
Companies in building material sector deliver improved earnings
Strong energy storage rates a boon for Dialog

Others Also Read