SINGAPORE (Jan 17): UMS Holdings has gained from the turnaround in the semiconductor industry. In its most recent 3Q ended September 2019, UMS reported earnings of $9.2 million, a 21% improvement from the previous year. Revenue, too, increased 12% y-o-y to $32.9 million.

In an interview with The Edge Singapore back in November, UMS CEO Andy Luong noted that despite the recent recovery, the industry at large remains prone to volatility and fluctuations. “The semiconductor business has been great for us; let’s make no mistake about that. But it can be challenging because it can get a bit choppy,” he said.

In a bid to shield itself from the adverse effects of cyclical volatility and changes in demand patterns amid a climate of macroeconomic uncertainties, UMS recently increased its stake in JEP Holdings, which produces precision parts and provides engineering services for clients in the aviation industry. As at end November, UMS held 39.09% of JEP, a significant increase from its initial stake of 7.48%.

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