Those involved in the semicon supply chain are not seeing any slow down in orders, in fact, the demand for chips continue to rise globally leading to local players like JF Tech a manufacturer of high-performance test contacting solutions for global integrated circuit (“IC”) makers is seeing windfall results throughout the year.
In its latest quarterly report, the group posted yet another record turnover of RM11.3 million for Q1 2022 pointing to a surge of 23.8% year-on-year or equivalent to RM2.2 million from RM9.1 million achieved in 1QFY21. The increase largely stems from the sustained strong demand from its customers. Revenue from Malaysia and China rose 56.7% and 26.7% YoY to RM4.6 million and RM3.6 million respectively for the quarter. The Group’s gross profit margin remained high at 78.4%.
The record performance led to a 48.3% YoY PBT or RM2.0 million to RM6.0 million versus RM4.0 million a year ago, this was attributed to lower operating cost to revenue ratio in addition to stronger sales.
Managing Director of JF Tech, Dato’ Foong Wei Kuong added that the Group’s test engineering solutions business, JF TestSense, has been making very encouraging progress. “This new growth driver has started contributing to our earnings in 1QFY22 and we are stepping up our efforts to build on the positive momentum. We are actively prospecting new customers and potential partners to scale our business, the process of which will accelerate further following the reopening of international borders.”
The company has started construction of a new facility in Kota Damansara, this will be a test contacting Center of Excellence in Malaysia and add another 50,000 square feet of built-up area, bringing the total to 96,000 sf. JF Tech expects the growing trend to persist in the foreseeable future on the back of 5G deployment and the accelerating electric vehicle (“EV”) adoption worldwide. ‘We expect the facility expansion to be completed by the 3rd quarter of 2022 barring any unforeseen circumstances.” added Foong.
Over in China, the Group reached a new milestone following the commencement of operations at its new manufacturing facility in Kunshan, China. The twin Centers of Excellence in Malaysia and China will eventually be able to develop new technology, intellectual property, and new products.
JF Tech is currently applying to Bursa Securities to transfer of the listing and quotation of the entire issued share capital and the outstanding warrants from the ACE Market to the Main Market.
