KUALA LUMPUR, 18 DECEMBER 2024 – MCE HOLDINGS BERHAD (“MCE” or the “Company”), today announced its financial results for the first financial quarter ended 31 October 2024 (“1Q FY2025“). MCE and its subsidiaries (the “MCE Group” or the “Group”) are engaged in the engineering and manufacturing of automotive electronic and mechatronic systems for local and international markets.

In 1Q FY2025, the Group recorded a slight revenue increase to RM41.4 million from RM41.3 million in the same quarter of the previous year (“1Q FY2024”). Profit after tax and minority interest (“PATAMI”) for the quarter remained steady at RM4.8 million compared to 1Q FY2024. Compared to the immediately preceding quarter (“4Q FY2024”), revenue and PATAMI recorded a quarter-on-quarter (“QoQ”) increase of 12% and 17%, respectively.

Group Managing Director of MCE, Dr Goh Kar Chun <吴佳骏医生>, said: “Our performance for 1Q FY2025 remained steady, with revenue expanding both on a year-on-year (“YoY”) and QoQ basis. We continue to position ourselves for long-term success by enhancing our research and development capabilities and broadening our product range. This is exemplified by our recent Memorandum of Understanding with Nanjing Chuhang Technology Co Ltd of China to develop autonomous driving radar solutions.

Our recent breakthrough in the electric vehicle (EV) segment also marks a significant milestone, unlocking substantial opportunities as EV components typically command much higher value compared to traditional vehicles. In addition to the several key long-term contracts secured in recent months, we have taken a further step to strengthen MCE’s global footprint and export potential by broadening our reach to India via joint venture with Abhishek Electronics Manufacturing Private Limited, a subsidiary of the Abhishek Group, targeting the rapidly growing automotive market in India.

FY2025 will be a pivotal year for MCE, as we lay a strong foundation for transformative growth and new opportunities of the future. The construction of our Serendah plant, now over 60% completed, underscores our commitment to expansion. Once operational, this state-of-the-art facility will more than double our production capacity, enabling us to capture a larger share of both the original equipment manufacturer (“OEM”) and replacement equipment markets. Additionally, it will enhance our ability to design and develop sophisticated components and systems to meet the increasing demand for next-generation vehicles locally and internationally. We are moving up the value chain, focusing on high-value, complex electronics and mechatronics components.

The successful completion of our private placement exercise and land disposal, which collectively raised RM62 million, has significantly strengthened our financial war chest, enabling us to pursue expansion aspirations and undertake new projects. With solid business strategies and a robust financial position, the next phase of MCE’s journey is set to be dynamic and exciting. These initiatives are designed to position MCE as a more significant player in the automotive electronics and mechatronics industry, unlocking sustainable value and growth for our stakeholders” he added.