On May 13, UMS Holdings : 558 0% executive director Stanley Loh Meng Chong acquired 250,000 shares at an average price of S$1.15 per share. With a consideration of S$288,000, this increased his direct interest from 0.10 per cent to 0.13 per cent.

 

He has been executive director since June 2010, after having joined the company as financial controller in September 2008. His extensive background includes various controllership roles in the trading and manufacturing sectors prior to his current tenure.

 

In its Q1 FY24 business update on May 10, UMS Holdings reported that its group revenue decreased by 33 per cent to S$54.0 million from S$80.8 million in Q1 FY23. This decline was primarily attributed to a 37 per cent reduction in semiconductor sales and a 12 per cent decrease in the &ldquo others&rdquo segment.

 

The group highlighted that it remained profitable in Q1 FY24, while it continued to grow its gross material margin from 50.2 per cent in Q1 FY23 to 53.2 per cent in Q1 FY24, with the 3 per cent improvement attributed to the change in product mix.

 

With the business update, UMS Holdings chairman and CEO Andy Luong noted that the group had made the right moves to beef up its production capabilities and strengthen its capital base hence, it &ldquo will be in an excellent position to capture new growth opportunities when the global semiconductor demand rebounds&rdquo .