UMW’s net profit in the first quarter fell to nearly RM66 billion from RM141.77 billion a year ago.
Meanwhile, Mycron Steel slipped into the red with net loss of RM22.89 million compared with net profit of RM5.22 million a year ago. Steel manufacturers were in the red in the January-March quarter as steel prices fell following a sharp decline in demand.
Meanwhile, Globetronics Technology Bhd is investing about RM30 million in capital expenditure this year to expand its business, in view of the new deals it hopes to clinch soon.
Its chief executive Heng Huck Lee said Globetronics was in the midst of finalising a deal with a very large global multinational company.
The MNC, he said, was the world number one leader of PC peripherals with a huge market and our product will be used for all segments of the peripherals including entreprise, desktops, mobile units and other new emerging technologies.
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