Malaysian company Scientex Bhd recorded a 24.3% increase in net profit for the third quarter ended April 30, 2023. The surge, amounting to RM109.78 million, was driven by strong demand for affordable properties across its developments in Malaysia.
Despite slower market demand globally affecting the packaging division, Scientex's property division performed well, contributing to the company's overall resilience. The nine-month cumulative net profit also rose by 13.5% to RM323.25 million.
Scientex remains optimistic about stable performance in the current financial year, with plans to strengthen its packaging division and leverage its strategic positioning in the property market.