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In a shocking turn of events, KESM, the world’s largest independent provider of burn-in and test services for integrated circuits, has encountered severe financial turbulence.
Once a revenue heavyweight, the company’s earnings plummeted since 2018, primarily due to global supply chain disruptions and geopolitical tensions.
Despite holding a robust cash reserve of RM 247 million, its capital allocation strategies have raised eyebrows, as most cash flow is funneled into capital expenditures rather than returned to shareholders.
The share price is overwhelmed by the news of automotive inventory. But research tells me it isn’t just servicing the automotive but it covers others, wish to hear more from the c-suite if they could bring it out in the agm.
