PETALING JAYA: The outlook for solid carbide cutting tool manufacturer HPMT Holdings Bhd
remains uncertain in the face of global manufacturing activity contraction, according to Hong Leong Investment Bank (HLIB) Research.
The rising possibility of energy supply disruptions and subsequent rationing in the European Union may serve to slow down demand in the near term, for companies in the manufacturing sector such as HPMT.
HPTM reported a 62.5% year-on-year (y-o-y) plunge in net profit to RM1.6mil for the third quarter ended Sept 30, 2022 (3Q22), which is also a 42.2% decrease when compared with the previous quarter.
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