KUALA LUMPUR: Master TEC Group Bhd
, which posted record revenue in the third quarter ended Sept 30 (3Q24), remained focused on achieving sustainable growth and enhancing value for its shareholders, according to executive director Tee Kok Hwa.
“With consistent growth in core segments and promising expansion into power infrastructure through Sediacom, we are well-equipped to strengthen our market presence,” he said in a statement.
Looking ahead, the power cables maker and distributor Master is well-positioned to benefit from Malaysia’s public infrastructure-focused Budget 2025, which allocates RM16bil for upgrading the national grid and RM300mil for the National Energy Transition Facility (NETR).
Master Tec posted a net profit of RM6mil in 3Q24, bringing its total for the first nine months to RM19.6mil.
The group reported a record revenue of RM87.6mil in 3Q24, bringing total revenue for the first nine months to RM227.6mil, driven by strong demand for low-voltage power cables and steady growth in both local and export markets.
Master Tec has declared a second interim single-tier dividend of 0.180 sen per ordinary share for the financial year ending Dec 31, 2024.
The dividend will be paid on Dec 16, with an entitlement date of Dec 30.
Master Tec’s share price closed up two sen, or 1.67% at RM1.22, giving it a market capitalisation of RM1.24bil.
