KUALA LUMPUR (July 30): Unisem (M) Bhd's (KL:UNISEM) net profit fell 29% to RM16.76 million in the second quarter ended June 30, 2024 (2QFY2024) from RM24 million a year ago, due to a change in product mix and higher operating costs.

Meanwhile, quarterly revenue increased 4% to RM394.59 million, from RM378.66 million previously, attributed to higher sales volume and the appreciation of the US dollar against the ringgit.

Despite subdued earnings, the semiconductor assembly and test services provider announced a second interim dividend of two sen per share, scheduled for payment on Oct 4.

Meanwhile, earnings per share was lower at 1.04 sen from 1.48 sen previously, according to the company’s bourse filing.

For the cumulative six months ended June 30, Unisem's net profit fell to RM25.22 million from RM33.79 million a year ago, despite racking up a higher revenue of RM759.36 million versus RM732.70 million previously.

Going forward, the company noted that the semiconductor industry remains cautious amid rising global tensions and ongoing conflicts. However, Malaysia is positioned to benefit from trade disputes as a key alternative in the supply chain.

“The launch of the National Semiconductor Strategy (NSS) by the Malaysian government is a positive development that should help drive the industry forward, thus benefiting local semiconductor companies,” the filing read.

At the close of trade, Unisem's share price was down 13 sen or 3.16% at RM3.99, valuing the company at RM6.44 billion.