FRONTKEN CORP'S Q2 NET PROFIT RISES TO RM24.74 MLN ON IMPROVED REVENUE FROM SUBSIDIARIES
KUALA LUMPUR, July 29 -- Frontken Corporation Bhd's net profit for the second quarter (Q2) ended June 30, 2021 rose to RM24.74 million from RM20.33 million in the same quarter last year on improved revenue.
Revenue increased 24 per cent to RM108.63 million due to contributions from Frontken Corp’s subsidiaries in Taiwan, Malaysia and Singapore.
“Volume in the semi-conductor space picked up significantly due to higher demand and strong orders from one of our customers’ advanced nodes chips which had benefitted our Taiwan subsidiary,” the company said in a filing with Bursa Malaysia today.
Frontken Corp is a provider of support services to the semiconductor industry, surface treatment and mechanical engineering solutions.
While it is cautiously optimistic that its performance for the remaining months will be satisfactory, the company would continue to strive for operational and cost efficiencies to better manage the ever challenging operating environment moving forward.
The Board of Directors has declared a First Single Tier Dividend of 1.5 sen per share in respect of the financial year ending Dec 31, 2021.
At lunch break, shares of Frontken Corp rose 0.30 per cent to RM3.31 with 738,300 shares transacted.
-- BERNAMA
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