Latest news with #MasterTec
New Straits Times
2 days ago
- Business
- New Straits Times
Mastec Tec's Q2 net profit drops to RM6.92mil
KUALA LUMPUR: Master Tec Group Bhd's net profit fell to RM6.92 million in the second quarter (Q2) ended June 30, 2025 from RM8.70 million a year ago. The company registered its highest-ever quarterly revenue of RM104.82 million for Q2 2025 from RM 72.84 million last year. "This achievement marks a significant 43.9 per cent jump from RM72.85 million in the corresponding quarter last year, demonstrating the company's accelerating growth trajectory across its core segments," it said. According to Master Tec, the strong performance was underpinned by a robust showing from the manufacturing segment, which contributed RM91.04 million or 86.8 per cent of total revenue in Q2 2025. Notably, it said copper-cored low-voltage (LV) power cables remained the primary driver with revenue of RM49.32 million, while aluminium-cored LV power cables surged to RM39.68 million from RM22.86 million in corresponding quarter. For the six-month cumulative period ended June 30, 2025, the company recorded RM175.06 million revenue, up 25.1 per cent from RM139.99 million in the previous corresponding period. Its pre-tax profit declined marginally by 4.5 per cent year-on-year to RM13.25 million. Its net profit stood at RM11.47 million compared to RM13.69 million in the first half (1H) FY24. Its chief executive officer Tee Kok Hwa said the performance affirms the success of its strategic focus on diversified revenue streams and capacity expansion. "As we continue to scale, our focus remains on operational efficiency, product quality, and strengthening our market reach," said Tee. The company declared a first interim single-tier dividend of 69 sen per share for FY25, amounting to RM7.04 million, rewarding shareholders for their continued support.
The Star
2 days ago
- Business
- The Star
Master Tec posts record RM104.8mil quarterly revenue in 2Q
KUALA LUMPUR: Master TEC Group Bhd is actively enhancing its production capacity and energy efficiency through new machinery acquisitions and the installation of rooftop solar photovoltaic systems, supporting its commitment to sustainability and green energy transition The cable manufacturer said it recently entered into two strategic memoranda of understanding to drive future growth. 'These developments, coupled with ongoing efforts in export market growth, product innovation, and sustainability initiatives, position the group well to capture future opportunities and deliver long-term shareholder value,' Master Tec said. In the second quarter ended June 30 (2Q25), Master Tec posted a net profit of RM6.9mil, down 20.5%, or earnings per share of 0.68 sen, bringing its first-half net profit to RM11.4mil, or 1.12 sen. It recorded a record quarterly revenue of RM104.82mil in 2Q25, a 43.9% increase from RM72.85mil in the same quarter last year, lifting its first-half revenue to RM175.06mil. The group declared a first interim single-tier dividend of 0.69 sen per share for FY25, amounting to approximately RM7.04mil, rewarding shareholders for their continued support. 'We are pleased to report our highest-ever quarterly revenue in 2Q25, which reflects the growing strength of our manufacturing and trading operations, as well as the positive contributions from our infrastructure services business via Sediacom. 'This solid performance affirms the success of our strategic focus on diversified revenue streams and capacity expansion. As we continue to scale, our focus remains on operational efficiency, product quality, and strengthening our market reach,' chief executive officer Tee Kok Hwa said in a statement. Looking ahead, Master Tec remains optimistic about its prospects, supported by growing infrastructure investments under the 13th Malaysia Plan and the National Energy Transition Roadmap.
New Straits Times
18-06-2025
- Business
- New Straits Times
Master Tec, China's firm to explore JV in Malaysia's power infrastructure sector
KUALA LUMPUR: Master Tec Group Bhd has partnered with Yangtze (Jiangsu) Marine Technology Company Ltd to explore joint development of advanced cable solutions for Malaysia's power infrastructure market. Master Tec will have the rights to promote and sell Yangtze Marine's suite of products in Malaysia. Master Tec said the collaboration may also extend to regional markets on a case-by- case basis. Yangtze Marine, a China-based specialist in marine engineering services and fibre optic cable manufacturing, will support Master Tec's development initiatives through technical collaboration, product design input and engineering expertise. This includes submarine composite power cables for both heating, ventilation and air conditioning and high-voltage direct current transmission, optical ground wire cables, specialised overhead conductors designed for high-capacity and low-sag performance such as thermal aluminium conductor steel reinformed conductors, and high-voltage underground cables rated up to 132 kilovolt (kV) and above. Yangtze Marine brings 10 years of technical expertise to the partnership, backed by its shareholders Yangtze Optical Fibre and Cable and Baosheng Science & Technology Innovation Co Ltd. Master Tec chief executive officer and executive director Tee Kok Hwa said the partnership represents a timely and strategic alignment between its growth ambitions and Yangtze Marine's advanced technical capabilities. "As demand intensifies for higher-capacity and next-generation power cable solutions, particularly in submarine and transmission infrastructure, this collaboration positions us to accelerate our entry into new market segments while upholding the technical standards expected by our clients," he said in a statement. Yangtze Marine senior vice president Jan Bongaerts said through the collaboration, both parties aim to bring their technical expertise, manufacturing know-how and global best practices to support Master Tec's ambition in elevating the local cable manufacturing landscape.
The Star
30-05-2025
- Business
- The Star
Master Tec proposes transfer to Main Market of Bursa Malaysia
KUALA LUMPUR: Master TEC Group Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia Securities Bhd. The cable manufacturer also proposed relevant amendments to the company's constitution to support the transfer, reflecting its commitment to meeting the higher regulatory requirements of the Main Market. 'This proposed Main Market transfer is a testament to the strength and resilience of our business. Since our listing, we have achieved several operational milestones, expanded our manufacturing capacity, and diversified our revenue streams through the integration of infrastructure-related services. 'The move to the Main Market marks the next chapter of our corporate journey, aligning with our long-term strategy to enhance visibility, broaden our investor base, and access more robust capital markets,' executive director Tee Kok Hwa said in a statement. The proposed transfer comes less than two years after Master Tec made its debut on the ACE Market in January 2024. Based on the audited financial results for the financial year ended Dec 31, 2024 (FY24), Master Tec recorded a consolidated profit after tax attributable to owners of the company (Patami) of RM27.01mil. Over the last three financial years, from FY22 to FY24, the group achieved a cumulative adjusted Patami of RM73.3mil, exceeding the RM20mil minimum threshold required under the profit test of the Securities Commission's Equity Guidelines.' Master Tec noted its strong financial health, reporting a current ratio of 1.81 times, a gearing ratio of 0.35 times, and retained earnings of RM93.8mil as of Dec 31, 2024. The group also noted positive net operating cash flows of RM29.88mil in FY24, underscoring its solid liquidity and financial stability. Master Tec's share price closed at RM1.06 on Friday, giving it a market capitalisation of RM1.08bil.
