Master Financial Analysis

Master has benefited from orders from First Solar, and has been growing year-on-year for 7 consecutive quarters. This quarter, Master's revenue and net income reached RM42 million and RM7.2 million respectively. Compared to the same period last year, Master's growth has increased to 45.1%.

Despite facing a series of challenges in the E&E industry, management stated that due to an increase in existing customer demand, Cecep Solar Energy (First Solar) contributed to a growth of 2.3 million Malaysian Ringgit, offsetting the decline in other industries. This quarter's revenue compared to the previous quarter has decreased, mainly due to maintenance activities for solar energy customers and cost reduction measures provided to customers, resulting in a reduction of RM1.5 million in the solar energy department.

Currently, Master is increasing efficiency on the production lines. Management expects the electronics industry to rebound this year, so they believe that delivery volumes will also increase this year. Master and LPBHD are major cardboard suppliers for First Solar. They believe that First Solar will benefit from the US tariff policies, and anticipate that First Solar will receive more orders in the future. Their suppliers will also benefit from this.