In 3QFY2023, the company reported revenues of $111.7 million, down 45.8% y-o-y. AEM incurred a smaller net loss of $16.1 million compared to the net loss of $20.4 million projected by William Tng of CGS-CIMB Research. For the nine months ended September, AEM reported revenue of $387 million, down 48.2% y-o-y, while earnings dropped 96.9% y-o-y to $3.53 million.
Malaysia’s Employment Provident Fund (EPF) increased its stake in AEM Holdings (SGX:AWX
) on Nov 10, acquiring 564,500 shares on the open market for $1.89 million or $3.35 each. This brings EPF’s total interest in the chip tester to just over 34.4 million shares, equivalent to a stake of 11.146%.
Another substantial shareholder of AEM recently added to its stake too. On Oct 30, UK fund manager abrdn acquired 382,800 shares on the open market for $1.33 million or $3.48 each. This brings its total stake to 28.15 million shares, equivalent to 9.114% of AEM. Less than a fortnight earlier on Oct 18, abrdn had acquired 273,000 shares for $960,516.56 or $3.52 each.
EPF made the acquisitions a day after AEM announced its 3QFY2023 ended September business update. Besides an earnings drop that was expected, the bottom line was further weighed down by a US$20 million provision for a settlement.
