KESM Industries reports RM3m net loss in 3Q


KESM Industries Bhd recorded a net loss of RM3.02 million in the third quarter (3Q) ended April 30, 2020, against a net profit of RM870,000 the year before as revenue fell on production disruptions due to Covid-19 pandemic containment measures in China and Malaysia.

The specialised electronics manufacturer’s revenue fell 27% to RM54.24 million in 3Q from RM73.8 million previously, it told Bursa Malaysia yesterday.

It experienced lower volume for burn-in, testing and electronic manufacturing services due to the lockdowns.

Going forward, the group expects demand for its services to be “dull” amid the pandemic-induced global economic slowdown and projections for worldwide semiconductor revenue to fall 0.9% in 2020.