MCE HOLDINGS BERHAD announced its financial results for the first financial quarter recording a slight revenue increase to RM41.4 million from RM41.3 million in the corresponding quarter of the previous year. Profit after tax and minority interest ("PATAMI") for the quarter remained steady at RM4.8 million versus 1Q FY2024. Compared to the immediate preceding quarter revenue, PATAMI recorded a quarter-on-quarter increase of 12% and 17%, respectively.
Group Managing Director of MCE, Dr Goh Kar Chun , said: "Our performance for 1Q FY2025 remained steady, with revenue
expanding both on a year-on-year ("YoY") and QoQ basis. We continue to position ourselves for long-term success by enhancing our research and development capabilities and broadening our product range. This is exemplified by our
recent Memorandum of Understanding with Nanjing Chuhang Technology Co Ltd of China to develop autonomous driving radar solutions.
Our recent breakthrough in the electric vehicle (EV) segment also marks a significant milestone, unlocking substantial opportunities as EV components typically command much higher value compared to traditional vehicles. In addition to the several key long-term contracts secured in recent months, we have taken a further step to strengthen MCE's global
footprint and export potential by broadening our reach to India via joint venture with Abhishek Electronics Manufacturing Private Limited, a subsidiary of the Abhishek Group, targeting the rapidly growing automotive market in India.
