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Wednesday, 17 August 2022, 18:00 HKT/SGT

Source: Cnergenz Berhad
CNERGENZ Posts RM76.58 Million in Revenue for 2Q FY2022
Sales of integrated solutions and standalone SMT machines and equipment remained steady

PENANG, Malaysia, Aug 17, 2022 - (ACN Newswire) - CNERGENZ Berhad, an established electronics manufacturing solutions provider based in Penang, announced today that the Company recorded revenue of RM76.58 million for the second quarter ended 30 June 2022 (2QFY2022) on higher sales of standalone surface mount technology (SMT) machines and provision of integrated solutions due to continued demand from manufacturing activities in the electronics and semiconductor industries (E&S Industries). On a cumulative basis, the Company recorded revenue of RM113.48 million and net profit (PAT) of RM12.94 million for the 6-month period ended 30 June 2022.

Mr. Lye Yhin Choy, Chief Executive Officer of CNERGENZ Berhad

On a segmental basis, standalone SMT machines and equipment sales contributed 51.03% of the total revenue while provision of integrated solutions contributed 44.85% for the 2QFY2022.

Meanwhile, the Company's profit before tax (PBT) for the 2QFY2022 had doubled to RM12.35 million as compared to the immediate preceding first quarter ended 31 March 2022 (1QFY2022) PBT of RM4.87 million. This resulted in the Company recording PAT of RM9.30 million for the 2QFY2022, which represents an increase compared to RM3.64 million recorded in the immediate preceding 1QFY2022.

Chief Executive Officer of Cnergenz, Mr. Lye Yhin Choy said, "We continue to see a steady inflow of orders in the recent quarter for our integrated solutions and standalone SMT machines and equipment in the Malaysian, Thai and Vietnamese markets where we operate despite the global headwinds that the technology sector is encountering, attributed to the gradual reopening of economies in these countries which have contributed to increased sales and new enquiries for our products and solutions. We believe that the inflow of orders will continue to grow following the recent global uptick in sales of semiconductors, particularly during the second quarter of 2022, coupled with the continued demand for our solutions and products amongst industry players within the E&S Industries.

On operational front, we have entered into a conditional sale and purchase agreement with the Penang Development Corporation for the acquisition of a parcel of industrial land in Penang. Upon completion of the acquisition, we intend to embark on the construction of our new facility by channelling our initial public offering proceeds, which will enable us to scale up our operations, develop and market a wider range of smart manufacturing solution offerings.

As of 30 June 2022, we have secured purchase orders totalling RM72.60 million, out of which RM61.16 million are expected to be fulfilled by the end of 2022 and RM11.44 million are expected to be fulfilled by the end of 2023."

About CNERGENZ Berhad

CNERGENZ Berhad (CNERGENZ) was incorporated in Malaysia on 6 August 2021 as a private limited company under the name CNERGENZ Sdn. Bhd. and assumed the present name upon conversion to public company on 23 September 2021.

The Group is principally an investment holding company. Through its subsidiary, SiP Technology Sdn. Bhd., CNERGENZ is an electronic manufacturing solutions provider, specialising in surface mount technology (SMT) manufacturing solutions for the electronics and semiconductor industries (E&S Industries). The Group's solutions and services are typically provided to customers who are looking to commission new integrated production lines or automate their production facilities, based on their operational requirements, budget and capital expenditure.

CNERGENZ mainly serves electronics and semiconductor companies that carry out the assembly of the advanced semiconductor packaging products as well as assembly and testing of printed circuit board assembly (PCBAs). For more information, visit cnergenz.com.

Topic: Press release summary
Source: Cnergenz Berhad

Sectors: Daily Finance, Local Biz
From the Asia Corporate News Network

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