The share price of Malaysian Pacific Industries continued to appear ‘violent’ to hit the latest high of RM46.80 in the Bursa Malaysia trading session today.
Following the ATH level of RM46.80, the market capitalization of MPI also jumped to record a value of RM9.76 billion.
As at 3.28pm, MPI's share price jumped slightly by around 0.13% to RM46.56.
The semiconductor manufacturer’s financial earnings have indirectly boosted the company’s investment prospects in the face of the Covid-19-driven movement restriction situation.
According to the report, MPI earned a net profit of RM75.1 million in the second quarter ended June 30, 2021, an increase of 53.13% from RM49.05 million.
As a result, the company's revenue also increased 32.5% to RM537.3 million from RM405.45 million achieved in the same period last year.
MPI explained that this encouraging performance was supported by higher revenue in all segments as well as increasingly effective cost management.
TA Securities analyst Wilson Loo said global semiconductor sales had exhibited a drastic rise in July to $ 45.4 billion and achieved impressive growth for 18 consecutive months.
The sharp growth rate was influenced by production and shipments which reached recent highs in the process of meeting growing demand.
In addition, it is also driven by the acceleration of digitalization that is being implemented during the Covid-19 pandemic as well as the proliferation of new technologies such as 5G, artificial intelligence and robotics.
