KUALA LUMPUR, 25 SEPTEMBER 2024 – MCE HOLDINGS BERHAD (“MCE” or the “Company”), has today announced its financial results for the fourth quarter ended 31 July 2024 (“4Q FY2024“). MCE and its subsidiaries (the “MCE Group” or the “Group”) are engaged in the engineering and manufacturing of automotive electronic and mechatronic systems for both the local and international markets.

In 4Q FY2024, the Group posted revenue of RM36.95 million, a slight decline of 2.5% compared to RM37.89 million in the similar quarter of the preceding year (“4Q FY2023”). Despite the marginal drop in revenue, profit after tax and minority interest (“PATAMI”) for the quarter saw a significant jump, increasing by 40.7% year-on-year (“YoY”) to RM4.14 million in 4Q FY2024. This was predominantly attributable to lower direct costs, improved operating efficiencies and a rise in other income. For the full year ended 31 July 2024 (“FY2024“), the Group achieved revenue of RM155.66 million and PATAMI of RM15.96 million, respectively.

Group Managing Director of MCE, Dr Goh Kar Chun <吴佳骏医生>, said: “We are pleased with the improvement in profitability achieved during the fourth quarter, where higher efficiencies led to enhanced margins compared to the same period last year. Additionally, we have secured several key long-term contracts in recent months, reaffirming our consistent ability to meet the stringent standards of leading automakers. These achievements strengthen our market position and underscore our positive outlook for continued growth in the years ahead.

One of the exciting developments is our successful entry into the electric vehicle (“EV”) sector, marked by our first contract win. EVs require more complex, higher-value electronic and mechatronic components, areas where our in-house R&D and integrated manufacturing capabilities perform as expected. As we continue to expand our role in this growing segment, our expertise uniquely positions us to deliver innovative solutions that meet the advanced requirements of the EV market, enabling us to capture significant opportunities in this dynamic segment.

Looking ahead, we will benefit from the global re-positioning of manufacturing facilities to ASEAN, which is creating new export opportunities. Our capacity expansion is progressing as planned, with the construction of our MCE Auto Hub in Serendah now more than 50 percent completed and set to be operational by the second half of next year. This new facility will allow us to more than double our production capacity, enabling us to capture a larger share of both the automotive and replacement equipment markets. It will also significantly enhance our ability to design and develop more sophisticated electronic components and systems, addressing the increasing demand for next-generation vehicles both locally and internationally”, he added.