Thursday 28 Mar 2024
By
main news image

KUALA LUMPUR (Aug 2): Malaysian Pacific Industries Bhd’s (MPI) market capitalisation topped RM9 billion for the first time as the semiconductor manufacturer’s share price rose about 3% to a record high in Bursa Malaysia morning trade today.

Investors were anticipating MPI’s fourth-quarter and full-year financial results, which are scheduled to be announced this month and as they weighed prospects for the semiconductor industry against the impact of Covid-19-driven movement restrictions.

At 9.21am today, MPI’s share price had risen RM1.18 or 2.65% to an all-time high of RM45.68, with a market capitalisation of about RM9.05 billion and 15,600 shares traded so far.

MPI’s market valued topped RM9 billion for the first time today from a market capitalisation of about RM8.81 billion last Friday, when its share price closed at RM44.50.

MPI’s share price had risen to current levels from the closing price of RM9.10 on March 20, 2020, possibly in anticipation of higher demand for semiconductors to produce computer-related products as Covid-19 pandemic-driven movement restrictions force people to work from home and use virtual methods to communicate.

At a glance, the company’s financial results have improved tremendously. For the third quarter ended March 31, 2021 (3QFY21), net profit rose to RM74.37 million from RM22.05 million a year earlier, while revenue was higher at RM526.63 million versus RM376.29 million, according to the company’s Bursa filing on May 28, 2021.

For the cumulative nine months (9MFY21), MPI said its net profit climbed to RM196.72 million from RM103.94 million a year earlier, while revenue was higher at RM1.45 billion versus RM1.16 billion.

As for full FY20, net profit increased to RM152.99 million from RM128.33 million a year earlier, while revenue was higher at RM1.56 billion compared with RM1.49 billion, according to MPI’s Bursa filing on Aug 28, 2020.

      Print
      Text Size
      Share