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Artroniq Berhad has reported a major rise in its first-quarter income for the fiscal 12 months 2024, reaching RM16.0 million, a notable soar from the RM0.07 million recorded within the earlier quarter. This monetary enchancment has been attributed to the decision of product returns and strategic administration of goodwill impairment within the Data and Communications Expertise (ICT) sector. The corporate’s pre-tax losses had been dramatically decreased to simply under RM0.1 million, down from RM16 million.
The management at Artroniq Berhad has credited their success to efficient methods within the increasing semiconductor and electrical automobile (EV) markets. They’ve notably emphasised their alignment with Malaysia’s carbon neutrality objectives via initiatives like electrical bicycles. The corporate has acknowledged the sustained progress of the worldwide semiconductor market, which has been bolstered by Malaysian authorities initiatives, particularly in areas like Penang that assist business progress.
Artroniq is trying to lengthen its attain inside these dynamic sectors, positioning itself for continued prosperity into 2024 and past. As of November twenty third, the agency’s share worth was marked at RM0.845, reflecting a robust market capitalization of RM344.6 million (USD1 = MYR4.6870). This valuation underscores Artroniq’s strong progress potential in each the semiconductor business and EV market because it navigates future market situations with strategic finesse.
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