KUALA LUMPUR – SKP Resources said fiscal first quarter revenue was up 29% to RM515 million (US$123.9 million) compared to the same period in 2020.

For the period ended June 30, profit grew threefold year-over-year to RM32 million.  

The electronics manufacturer laid off 60% of its operations staff in June, according to reports.

“The group is strategically well positioned in the electronic manufacturing services industry and continues to pursue opportunities to grow its market share from existing customers,” SKP said. “Notwithstanding the current market conditions, the group continues to receive inquiries from both existing and potential new customers for new projects.”

SKP said it would continue to expand its PCBA, injection molding and engineering capabilities.

“Prospects remain good and, barring unforeseen circumstances, the board expects to achieve profit growth for the financial year ending Mar. 31, 2022.”

Ed.: RM1 = US$0.24

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