The sterling performance was mainly driven by the group's strong sales, as well as a reversal of the tax provision made by its Malaysian subsidiary after the resolution of its pioneer tax incentives with the Malaysian government.
UMS Holdings (SGX:558
) announced a record FY2022 ended Dec 31, 2022. Its earnings for the full year period came in at $98.2 million, some 85% higher than $53.1 million a year ago.
This came on the back of a 37% y-o-y growth in revenue to $372.4 million from $271.2 million last year.
