KUALA LUMPUR (Oct 20): Electronics manufacturing services (EMS) provider Betamek Bhd, en route to list on the ACE Market of Bursa Malaysia on Oct 26, posted a net profit of RM4.65 million on revenue of RM48.6 million for its second financial quarter ended Sept 30, 2022 (2QFY2023). Earnings per share for the quarter was 1.22 sen.

For the cumulative six months ended Sept 30, 2022 (1HFY2023), Betamek achieved a net profit of RM8.9 million on RM95.03 million in revenue.

No comparative figures were available as it was the first interim financial report released by the company in relation to its earnings, in compliance with the listing requirements.

In a statement on Thursday (Oct 20), Betamek managing director Mirzan Mahathir said revenue for the group’s 2QFY2023 and 1HFY2023 came mainly from its vehicle audio and visual products segment, which accounted for 78.74% or RM38.27 million of the quarterly and 78.92% or RM75 million of the cumulative revenue.

“For the current quarter and financial year-to-date, the group’s revenue was entirely derived from customers in Malaysia,” he said.

On prospects, Mirzan said the company plans to expand its research and development (R&D) office space, storage space and ancillary facilities in order to better anticipate future demands and also to accommodate the increasing order volume.

In addition, Betamek intends to upgrade its manufacturing capacities to adopt aspects of the Fourth Industrial Revolution (IR 4.0) by utilising automation, artificial intelligence, internet of things and real-time data.

Thus, he noted the company plans to invest in software and system development including smart warehousing and material handling systems to better manage the movement of its inventories.

The company also plans to purchase additional machinery and equipment such as an X-ray inspection machine, ball grid array rework station, printed circuit boards router and robotic soldering machines in order to improve quality, efficiency and productivity.

“The fast-paced nature of the automotive electronics industry means that products are constantly being phased out and replaced either by newer models or newer technology.

“In order to remain competitive, Betamek strives to provide timely and technically sophisticated products to its customers,” he added.

Looking ahead, Mirzan is optimistic about the future prospects of Betamek, based on the projection that the sales value of the manufacture of parts and components for motor vehicles will see a compounded annual growth rate of 5.4% from RM32.3 billion in 2021 to RM39.9 billion in 2025.