KESM Industries Berhad reported its unaudited financial results for the fourth quarter and financial year ended 31 July 2023 recording a net loss of RM3.1 million, from a Net Profit of RM1.7 million reported a year ago.
Over the same period, Revenue saw a decline of 7 percent to reach RM228.3 million as compared to RM246.7 million last year. Sam Lim, Executive Chairman & Chief Executive Officer said “FY2023 was a very challenging period. Our revenues were weakened by the reduction in the EMS activities and the continuing COVID-19 restrictions in China which were finally lifted in early 2023.”
He added, “We boldly pushed forward with our RM143 million strategic investment plan in cutting-edge test equipment, now firmly in place, positioning us for expansion with confidence.”
The worldwide semiconductor industry is expecting to contract by 12.3% to US$525.9 billion this year and to rebound by 20.4%, with revenue reaching US$633 billion in 2024.
“We remain steadfast in our optimism and commitment to seize the growing opportunities within the automotive semiconductor. With our customer-centric approach, we are well-positioned to forge new partnerships with leading automotive semiconductor manufacturers”, remarked Mr. Lim
