MTEC achieved revenue of 87.625 million ringgit in the third quarter of 2024, a 20.3% increase compared to the previous period, demonstrating strong demand for its core business. The low-voltage cable business remains the revenue backbone, accounting for over 91.0%.
As of September 30, 2024, cumulative revenue reached 0.228 billion ringgit, with a gross margin of 12.4%, demonstrating the company's optimization in cost control and business efficiency.
Despite revenue growth, pre-tax profits decreased by 19.7% to 7.038 million ringgit compared to the previous period, mainly due to one-time IPO-related expenses. Excluding one-time IPO expenses, the company's pre-tax profit remains the same as the previous quarter.
Looking at the cumulative net income of 19.657 million ringgit and a 8.6% profit margin, the company's profitability remains robust. Investment in new projects and expansion plans have laid the foundation for future growth.
Global strategy transformation and market outlook.
According to market forecasts, the Malaysian electrical cable industry is expected to reach a market size of 11.205 billion ringgit by 2025, with an annual growth rate of 5.25%. MTEC actively seizes future growth opportunities by developing medium-voltage cables and expanding overseas markets.
At the same time, the recent acquisition of Sediacom Sdn. Bhd. has provided new business opportunities in the electrical infrastructure sector.
The company's net assets per share for the third quarter increased from 12.73 sen at the end of last year to 17.4...

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Among the companies in the spotlight is Varia Berhad, formerly known as Stella Holdings Berhad. Following a significant corporate ...

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