SENAI, MALAYSIA – VS Industry reported revenue of MYR1.15 billion ($258 million) for the second quarter of its fiscal year, a 13.1% increase from the second quarter of last year.

Malaysia segment posted a 37.4% increase in revenue, totaling MYR867 million ($195 million), which was due to higher sales orders from key customers, the company said. The Singapore segment, which acts as the marketing arm for Malaysia operations, saw a 35% decrease in revenue due to lower sales order from a key customer, while the Indonesian segment saw a 6.6% increase in revenue. The company's China segment recorded a 57.8% decrease in revenue because of the highly challenging environment in the country, VS said.

"The global economy continues to grapple with macroeconomic uncertainties and in turn, this casts overbearing shadow on the prospects of various businesses including VS’. Consumer sentiments and purchasing power, too, have been dampened in the face of rising cost of living," the company said in a filing with Bursa Malaysia. "Against the taxing backdrop, the group is fully prepared to overcome any challenges that may arise, supported by our experienced management, track record and solid balance sheet."

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