SAM Engineering & Equipment shares rose 2%


SAM Engineering & Equipment (M) Bhd (SAME) shares rose up to 10 sen or 2.2% to RM4.69 at lunch break today.

The Penang-based company was among the top gainers today with 14,700 shares traded. It hit an intra-day high of RM4.72.

In an exchange filing on Feb 22, SAME posted a net profit of RM19.19 million for the second quarter ended Dec 31, 2022 (3Q23), down 23.9% from the same quarter last year.

For the nine months cumulative period, it recorded revenue was up 40.4% to RM1.11 billion from the same period a year earlier,  mainly due to the increase in demand from the customers and favourable foreign exchange translation.

SAME, a subsidiary of Singapore Aerospace Manufacturing Pte Ltd, has manufacturing facilities in Malaysia, Singapore and Thailand to provide one-stop solutions to its customers worldwide.

Its services range from precision machining, sheet-metal fabrication and surface treatment, to equipment integration and automation solutions. Singapore Aerospace Manufacturing is a subsidiary of Accuron Technologies Ltd and headquartered in Singapore.

SAME top shareholders are Temasek Holdings Pte Ltd with a 62.49% stake, I Capital Biz (3.50%) and Capital Dynamics Asset Management Sdn Bhd (3.35%).