Chip sector rebound may take longer than anticipated

Malaysia has been a key beneficiary due to the diversification of global chipmakers’ supply chain beyond North Asia.

IN one of the more candid forward guidance among tech companies, MI Technovation Bhd (Mi Tech) says it does not see a full recovery for the semiconductor sector this year.

“A full recovery for the semiconductor industry is not only slower than expected. A full recovery is unlikely to happen in 2024,” the company states in the notes accompanying its second-quarter (2Q24) results.