KUALA LUMPUR: UWC Bhd's net profit fell 8.1 per cent to RM25.0 million in the second quarter (Q2) ended July 31, 2022, from RM27.2 million a year ago.

However, revenue grew 2.7 per cent to RM79.9 million in Q2 2022 from RM77.8 million last year.

The better revenue was the direct result of UWC's growing global customer demand for semiconductor, life science as well as medical technology industry's related products, it said.

The integrated engineering supporting services provider has recorded higher capital investments and corporate expansion, leading to higher depreciation and staff cost, stifling the profit after tax to RM25.0 million from Q2 2021's RM27.2 million.

The company's healthy net cash stands at RM59.3 million, with a current ratio of 5.14 times.

Executive director and group chief executive officer Datuk Ng Chai Eng said orders for semiconductor, life science and 5G related products remained robust with continuous replenishment of the company's order books.

Ng said the company has since transitioned into the higher end value chain, shifting focus to front-end semiconductor, autonomous chip testers, 5G testers and V2V testers.

"Looking ahead, the 5G testers will soon begin mass production followed by the ramping up of autonomous vehicle chip testers in the coming years," he said.

Moving on to life science, Ng said the outlook remains bright as the demand for quality healthcare has been on the rise given the ongoing battle with the pandemic which has intensified.

He said this is aligned with the UWC's future pipelines which comprise of virus extraction machine, DNA analyser as well as a few new products which are still under the research and development stage which will contribute positively towards this segment's future.

"UWC is also exploring the possibility of securing full box build jobs and more project transfers within this business segment.

"As we relentlessly continue to shape our business to better suit the demands of the future as well as expedite our growth, we believe in prioritizing quality business expansions," he added.

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