KUALA LUMPUR, March 14 – APB Resources Berhad (APB), a prominent fabricator of design engineering equipment, has announced its financial performance for the fifteen-month period ending on December 31, 2023, showcasing robust revenue growth and strategic business advancements. In a bid to align with long-term growth objectives, the Board of Directors has extended the financial year to conclude on March 31, facilitating subsequent annual financial year-ends. A significant milestone in APB’s trajectory is the recent acquisition of 10.41% equity interest in Globetronics Technology Bhd, marking the Group’s strategic entry into the semiconductor and electronic components manufacturing sector.
This acquisition, totaling RM140.0 million cash, underscores APB’s commitment to diversification and long-term growth strategies. Despite strategic transitions and adjustments in product mix, APB reported a revenue of RM20.5 million for the quarter ended December 31, 2023, reflecting the Group’s resilient operational capabilities. While experiencing a temporary adjustment in profit after tax due to acquisition-related expenditures, APB remains focused on leveraging these strategic initiatives to enhance market position and deliver sustained value to stakeholders. Looking ahead, APB remains optimistic about growth prospects within both the core fabrication sector and the burgeoning semiconductor domain.
