PETALING JAYA: UWC Bhd has reported a net profit of RM25.1mil for its second quarter of its financial year ending July 31, 2022.

       The company said the better quarter-on-quarter (q-o-q) financial performance was the result of UWC’s growing global customer demand for semiconductors, life science as well as medical technology industry-related products.

       Revenue and profit after tax grew by 6.1% and 8.7% to RM79.9mil and RM25mil q-o-q respectively.

       The company said higher capital investments and corporate expansion leading to higher depreciation and staff costs had stifled profit after tax from the previous corresponding quarter of RM27.2mil.

       The group pointed out that it has a healthy net cash of RM59.3mil with a current ratio of 5.14 times.

       UWC executive director and group chief executive officer Datuk Ng Chai Eng (pic) said the group had transitioned to the higher end value chain, shifting focus to front-end semiconductors, autonomous chip, 5G and vehicle-to-vehicle testers. The 5G testers will begin mass production soon.