Pekat Group posts lower 1Q net profit

TheStar Wed, May 31, 2023 08:22pm - 10 months View Original


Pekat Group chief executive officer Tai Yee Chee

KUALA LUMPUR: Pekat Group Bhd will be prudent in managing potential challenges such as increasing raw material prices and forex fluctuations to continue its steady momentum in the coming quarters, according to chief executive officer Tai Yee Chee.

He said the solar industry market remained vibrant as the government is steadfast and committed to driving the development of renewable energy in the country by introducing new renewable energy initiatives.

“As the government is looking at removing electricity subsidy for the T20 income group, we will see more electricity users considering hedging against the increasing tariffs. The higher quota provided by the government under various solar photovoltaic (PV) installation programmes is seeing an encouraging response,” Tai said in a statement.

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