KUALA LUMPUR (Jan 31): MALAYSIAN PACIFIC INDUSTRIES [] Bhd shares retreated in early trade on Tuesday after the company said that it expects its business prospects to remain challenging across all segments for the financial year ending June 30, 2012 given the uncertain macro-economic outlook.
At 9.05am, MPI fell 13 sen to RM3.55 with 55,000 shares done.
MPI posted net loss RM16.21 million in the second quarter ended Dec 31, 2011 compared to net profit RM25.29 million a year earlier, due mainly to weaker demand and lower revenue.
Its revenue for the quarter fell 24.04% to RM279.23 million from RM367.59 million in 2010. Loss per share was 8.37 sen compared to earnings per share of 13.05 sen, while net assets per share were RM3.77.
Reviewing its performance, MPI said while the weak semiconductor market was affecting all its segments, many of the manufacturing hubs in Asia were shutting down towards the end of December to adjust for the lower demand.
“This, coupled with the general inventory correction in the industry, has further impacted the supply chain and revenue of the sub-contracting business during the quarter under review,” it said.
At 9.05am, MPI fell 13 sen to RM3.55 with 55,000 shares done.
MPI posted net loss RM16.21 million in the second quarter ended Dec 31, 2011 compared to net profit RM25.29 million a year earlier, due mainly to weaker demand and lower revenue.
Its revenue for the quarter fell 24.04% to RM279.23 million from RM367.59 million in 2010. Loss per share was 8.37 sen compared to earnings per share of 13.05 sen, while net assets per share were RM3.77.
Reviewing its performance, MPI said while the weak semiconductor market was affecting all its segments, many of the manufacturing hubs in Asia were shutting down towards the end of December to adjust for the lower demand.
“This, coupled with the general inventory correction in the industry, has further impacted the supply chain and revenue of the sub-contracting business during the quarter under review,” it said.
