Master Tec Group Berhad (“Master Tec” or the “Group”), a premier player in the manufacturing and distribution of power, control and instrumentation cables, has delivered its highest-ever quarterly revenue, achieving RM96.4 million for the fourth quarter ended 31 December 2024 (“Q4 FY2024”).
This milestone represents a 9.1% increase from RM87.62 million in Q3 FY2024, which was previously the Group’s highest revenue quarter. The sustained growth momentum reflects the Group’s strong market positioning, expansion efforts, and increasing demand for its products.
The robust financial performance was primarily attributed to higher sales volume of low-voltage (“LV”) power cables, which contributed RM74.96 million or 77.7% of total revenue, alongside steady demand for control and instrumentation cables and a substantial increase in revenue from trading activities.
The first full revenue contribution from Sediacom Sdn. Bhd. (“Sediacom”) following its acquisition in Q4 FY2024 further strengthened the Group’s top-line performance, reflecting its successful diversification into the power infrastructure sector.
Master Tec reported a Profit After Tax (“PAT”) of RM7.45 million in Q4 FY2024, a 24.8% increase from RM5.97 million in Q3 FY2024. This growth was driven by strong sales in the manufacturing and trading segments, reflecting effective operations and cost management.
Despite a slight 3.0% decrease in Profit Before Tax (“PBT”) from RM7.04 million in Q3 FY2024 to RM6.83 million in Q4 FY2024, the company demonstrated strong profit growth.
For the full financial year ended 31 December 2024 (“FY2024”), Master Tec achieved a total revenue of RM324.04 million, reflecting a 13.5% increase from RM285.44 million in FY2023, driven by higher sales in manufacturing and trading.
The manufacturing segment grew 10.8% to RM299.16 million, while trading increased 29.3% to RM20.02 million, contributing to an overall growth of 11.8%.
Additionally, the contract revenue segment contributed RM4.86 million, or 1.5% of total revenue, marking its first contribution since acquiring Sediacom.
Mr. Tee Kok Hwa, Executive Director of Master Tec Group, commented,
“We are proud to have achieved our highest-ever quarterly revenue in Q4 FY2024, surpassing our previous record from Q3 FY2024. This milestone reflects the strength of our market positioning, the continued demand for our power cables, and the successful execution of our expansion strategy.”
Master Tec is set to bolster its manufacturing capabilities with the full completion of its new plant in Q4 2024.
This expansion will add approximately 3,600 tonnes per annum of production capacity for medium-voltage (“MV”) power cables, supporting the company’s long-term growth and market demand.
In financial year 2024, Master Tec has achieved an actual production utilisation of 9,077 tonnes from the production capacity of 9,500 tonnes for LV power cables, underscoring strong operational efficiency and sustained industry demand.
The new facility will further enhance Master Tec’s ability to meet increasing customer needs while reinforcing its position as a key player in the power cable industry.
He added, “As we move into FY2025, we are focused on further strengthening our business by enhancing operational efficiencies to mitigate cost pressures, maximising synergies from the Sediacom acquisition to drive contract revenue growth, and expanding our trading segment, which continues to perform exceptionally well.”
Master Tec has paid a total dividend of RM12.99 million across the financial years ended 31 December 2023 and 2024. This includes a final dividend of 0.704 sen per share for FY2023, paid on 29 April 2024, and a first interim dividend of 0.390 sen per share for FY2024, paid on 27 September 2024.
Additionally, a second interim dividend of 0.180 sen per share for FY2024 was paid on 16 December 2024, underscoring its strong cash generation and robust financial performance, reinforcing Master Tec’s commitment.
In line with its long-term growth strategy, the Group previously announced the acquisition of land in Jasin, Melaka, as part of its forward-looking approach to business expansion. This strategic investment provides the necessary infrastructure to support future expansion and scale operations in response to increasing industry demand.
As at 31 December 2024, the Group’s order book remained robust at RM88.44 million, with RM68.71 million from manufacturing orders and RM19.73 million from contract revenue. This strong order book provides solid revenue visibility for the upcoming financial year.
Additionally, the Group recently secured a RM107.75 million contract from Tenaga Nasional Berhad (“TNB”) for the supply and delivery of underground cables and conductors for TNB’s Distribution Network Division, reinforcing Master Tec’s role in Malaysia’s power infrastructure sector and the ongoing energy transition projects.
With its enhanced production capabilities, expanding order book, and strategic investments, the Group is confident in securing new projects, driving sustainable growth, and delivering long-term value creation for its stakeholders.
For more information, visit https://mastertec.my/
