SELANGOR, MALAYSIA – Betamek reported revenue of RM43.45 million ($9.3 million) for the first quarter of its fiscal year.

The company's revenue marked a decrease of RM12.5 million ($2.7 million) or 22.3% as compared to the preceding quarter, which Betamek largely attributed to the end of the sales tax exemption incentive for passenger vehicles under the Malaysia's National Economic Recovery Plan package. There are no comparative figures for the preceding corresponding quarter and year-to-date as the company was listed on the ACE Market of Bursa Malaysia Securities Berhad last October.

The company said its revenue was mainly attributed to the vehicle audio and visual products segment which accounted for RM33.63 million ($7.2 million), representing 77.4% of its total revenue. The company's revenue was also entirely derived from customers in Malaysia which contributed for 100% of its total revenue.