Frontken's 3Q net profit rises 27% to RM34.7m KUALA LUMPUR (Nov 1): Frontken Corp Bhd's net profit for the third quarter ended Sept 30, 2022 (3QFY2022) rose 27% year-on-year to RM34.73 million from RM27.30 million, as a result of improved revenue and better profit margins.
In a bourse filing on Tuesday (Nov 1), the company said revenue for the quarter jumped to RM134.57 million, from RM116.59 million previously, mainly due to better contributions from nearly all its subsidiaries.
Earnings per share stood at 2.21 sen, versus 1.74 sen previously.
Frontken expects strong O&G business for rest of 2022 ETALING JAYA: Frontken Corp Bhd expects its oil and gas (O&G) business to be strong for the remaining months in 2022 due to increased orders from various contracts.
In a filing with Bursa Malaysia yesterday, the group said the contracts will be for the provision of manpower supply and also mechanical rotating equipment services and parts that the company has with the PETRONAS group of companies.
Frontken said its Taiwan semiconductor business continued to benefit from the higher demand in the semiconductor space.
“The improvement in the group’s local business was largely due to pick-up in orders for its maintenance and repair services of mechanical rotating equipment and manpower supply through its various contracts that it has with PETRONAS group of companies “Our engineering division in Singapore also saw an increase in its activities partly attributable to the improvement in the O&G industry.”
@neohts Nvm. I'll just wait for the next AGM to prompt the question of contingency planning and business continuity planning in the event it's operation in Taiwan ceased. It'll be good to know if they are to switch to serve other foundaries in Msia, S'pore, South Korea ,etc from their factory in Kulim, Kedah
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