Cost Prudence Keeps MPI In Healthy Financial Position

Involved mostly in the semiconducor sector, Malaysian Pacific Industries’ second-quarter revenue in Q2 FY22 continued to grow consistently and improved by 26% year-on-year to RM 608 million. Growth momentum continued for Profit After Tax And Minority Interest as it reached RM 85 million in Q2 FY22, posting a 27% YoY growth.

Manuel Zarauza, Group Managing Director commented, “We continued to make strategic investments in facility expansion, automation, equipment purchase & upgrades, and manpower hiring & training. Compared to Q2 FY21, we tripled our CAPEX, taking it to RM 310 million in Q2 FY22. Amidst this, the cost prudence measures in place ensured that our financial position remained healthy with net cash of RM 890 million as of Q2 FY22. EPS grew steadily to 43.00 sen in Q2 FY22, a growth of 27% over Q2 FY21.

This growth is a result of focused strategy execution as we continue to navigate through a difficult & unpredictable operating environment due to COVID-19, geopolitical issues, business travel restrictions, manpower constraints, raw material price rises, and long delivery lead times for equipment & materials”.