Friday 29 Mar 2024
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KUALA LUMPUR (May 27): Ta Win Holdings Bhd posted a net profit of RM3.8 million for the third quarter ended March 31, 2022 (3QFY22), versus a net loss of RM254,000 a year earlier, on the back of significantly higher revenue.

In a bourse filing on Thursday (May 26), Ta Win said revenue for the quarter rose to RM154.33 million from RM127.5 million.

Earnings per share rose to 0.11 sen versus a loss per share of 0.04 sen.

For the nine months ended March 31, 2022, the company posted a net profit of RM5.19 million, versus a net loss of RM4.54 million, on the back of a revenue of RM393.63 million against RM336.57 million a year earlier.

In a separate statement, Ta Win managing director Datuk Sri Ngu Tieng Ung said copper prices also remained on an uptrend, with London Metal Exchange (LME) prices ranging from US$9,660 (about RM42,383.25) to US$10,330.50 per tonne for the three-month period during the quarter under review, compared with US$7,918.50 to US$8,850.50 per tonne in the same period last year.

Moving forward, Ngu said Ta Win is focused on capacity expansion plans to meet long-term growth in demand for its copper products, as well as the signal and power solutions businesses.

“To this end, the construction of our new manufacturing facility in Pulau Indah, Klang is progressing towards a commercial trial run.

“In addition, the electron beam irradiation plant by our subsidiary Cyprium Wire Technology Sdn Bhd is also on track to commence a trial run in 4QFY22,” he said.

Ngu said this will enable Ta Win to supply irradiation cross-linked wire and cable products for the global electric vehicle supply chain, further expanding prospects for the group over the long term.

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