SINGAPORE (Dec 2): UMS Holdings, along with the numerous Singapore-based companies in the semiconductor supply chain, is poised to ride the bottoming-out of this industry, thanks to a broad-based recovery in demand. After declining for more than a year, demand began to rebound in 2Q2019. “We expect the recovery to continue,” says UMS chairman and CEO Andy Luong in an interview with The Edge Singapore.
In October, semiconductor output in Singapore fell a mere 0.9% y-o-y — a marked improvement from the double-digit declines recorded in the preceding two months: 12.7% in September and 28.7% in August.
For 3QFY2018 ended September, UMS reported revenue of $32.9 million, up 12% y-o-y and 16% q-o-q. Earnings improved 21% y-o-y to $9.2 million. A small portion of the earnings, of about $0.7 million, was contributed by UMS’ recently acquired associate company, JEP Holdings. “We expect to be kept busy for the next couple of quarters. There will be more growth for the company in FY2020,” says Luong.