Ge-Shen Corporation Berhad (“Ge-Shen” or the “Group”), an established service provider of precision engineering and manufacturing solutions, specialising in high-quality plastic, printed circuit board assembly (“PCBA”), liquid silicone rubber and complete assembly for diverse industries, today announced its unaudited financial results for the first quarter ended 31 March 2025 (“Q1 FY2025”), demonstrating strong profitability with Profit Before Tax (“PBT”) increasing by 240.3% to RM5.84 million compared to immediate preceding quarter (“Q4 FY2024”).
For the quarter under review, Ge-Shen recorded revenue of RM54.49 million, representing a 26.2% decline year-on-year from RM73.85 million in Q1 FY2024. The lower revenue was mainly attributed to the impact of U.S. tariffs, which affected pre-orders made in December 2024.
Nonetheless, the Group achieved a 24.0% increase in PBT from RM4.71 million in Q1 FY2024, supported by robust internal cost controls. These included optimised material usage, streamlined workforce deployment, and improved overhead efficiency across operations. A non-recurring gain on disposal of assets from the Johor factory further boosted quarterly earnings.
As part of its long-term expansion plan, Ge-Shen completed the subscription of 60.0% equity interest in Amity Technical Services & Consultancy (M) Sdn. Bhd. and Amity Research & Development Sdn. Bhd. in January 2025. These acquisitions are expected to enhance the Group’s capabilities in engineering services and technical innovation, expanding its reach within the electronics and EMS sectors.
At the same time, the Company held its 22nd Annual General Meeting (“AGM”) earlier today. All resolutions, including the Directors’ fees, re-election of directors, appointment of auditors, renewal of share issuance authority, and share buy-back mandate, were approved by shareholders with full support, where the shareholders also received the annual report for financial year ended 31 December 2024.
Dr. Adrian Foong Hong Nian, Chief Executive Officer of Ge-Shen commented, “We are grateful to our shareholders for their continued trust and approval of key resolutions that will shape Ge-Shen’s next phase of growth. We are pleased to deliver stronger earnings despite external challenges. Our operational resilience, ongoing cost optimisation, and strategic investments are paying off. We remain focused on high-value customers and projects while positioning the Group to seize opportunities in the EMS and semiconductor supply chain, especially in Malaysia and Vietnam. As a result of our acquisitions and automation efforts, we expect continued momentum going forward.”
Looking ahead, the Group is cautiously optimistic. Global trade uncertainties and wage pressures remain a concern, especially with potential minimum wage hikes in both Malaysia and Vietnam. However, the management sees encouraging signs from recovering customer orders, government support for high-tech manufacturing, and increased attention on Malaysia’s role in the semiconductor ecosystem.
With additional automation initiatives, enhanced Enterprise Resources Planning (“ERP”) implementation, and strategic disposals to improve asset efficiency, Ge-Shen is poised to sustain its growth trajectory in 2025.
