KESM Industries Berhad the world’s largest independent burn-in and test service provider, reported its unaudited financial results for the first six months recording a drop in revenue by 18 percent to RM108.8 million from RM132.9 million in the previous corresponding period of FY2022. The company posted a Net Loss of RM2.3 million as compared to a Net Profit of RM6.5 million.
Sam Lim, Executive Chairman & Chief Executive Officer said, “The first half result sees KESM in transition with many existing devices replaced by a new era of electric mobility chips having more functions and features. These new chips required for electric vehicles called for vigorous tests and certifications of new testers aggravated our production output.”
He said, “As the new year begins, car makers shifted at full speed to expand the EV market. We have been anticipating this development, and have invested close to RM140 million largely for new test equipment.” “Some of these new installations have now been approved for manufacturing and we expect progressive volume growth in the later part of this year as the automotive market remains strong.”
