[P I E INDUSTRIAL BHD，某些电子元件的持续短缺以及马来西亚令吉兑美元汇率的剧烈波动]
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The revenue was decreased by RM16.610 million or 10% if compared to preceding year corresponding quarter. The decrease was mainly attributable to lower demand from existing customers for electronics manufacturing activities (EMS) and wire harness products but partly offset by higher revenue recorded for raw wire & cable products and trading activities. Compared with the preceding year corresponding quarter, the profit before tax decreased by RM6.389 million or 40%. The decrease is mainly attributable to lower revenue recorded and lower margin of products mix, higher cost of sales, higher provision for slow moving inventories and lower gain from foreign currency exchange transaction in the current quarter compared to the corresponding quarter.
The Group’s revenue for the quarter under review has decreased by 21% as compared with the preceding quarter. The decrease was mainly due to lower demand recorded for EMS, raw cables & wire, wire harness products and trading segments. The Group profit before tax for the current quarter has declined by 69% as compared to preceding quarter. The decrease was mainly due to lower revenue and lower margin of products mix, higher cost of sales, higher operating expenses, lower scrap sales, higher provision of impairment for trade receivables, higher provision for slow moving inventories, lower foreign currency translation gain and investment income.
Continuous shortage of certain electronics component as well as any drastic fluctuation of Ringgit Malaysia against USD will be the main factors affecting its performance in the near future. The revenue from cable assembly & wire harness ( 3%) activities in Thailand will remain flat during the year. Management doesn't expect significant growth from trading segment in the near future due to lack of attractive electronics products from parent company. Based on the foregoing, the Group expect a flat performance during the year.
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