Malaysian Pacific Industries announced its results for the second quarter of the financial year 2023, ending on 31 December 2022 posting revenue of RM 526 million, with Profit After Tax of RM 32 million.
The Worldwide semiconductor industry is witnessing economic and market headwinds. Growth is hampered by Covid-related supply chain constraints especially in China, the uncertainty of the impact of China’s reopening, inflation concerns, recessionary risks in key advanced economies, and continuing geopolitical tensions. As a result, MPI said it is affected by issues such as end market demand drop or postponement, cost increases (material, machine, transportation, utility), and semiconductor talent scarcity.
However, the group said it is taking continuous cost prudence measures to positively impact costs and improve process efficiency and is extending these to all its operating sites.
