Taiwanese bearing manufacturer Syncmold Enterprises plans to quadruple its investment in Thailand to NT$20 million (US$15 million) as it seeks to capitalize on multinational companies shifting production to Southeast Asia.
The company reported third-quarter net income of NT$218 million (US$6.9 million), with earnings per share reaching NT$1.52. While quarterly revenue dropped 2.6% to NT$2.47 billion, profit margins expanded to 29.2% from 25% a year earlier, helped by cost controls and a shift toward premium products.
Year-to-date earnings through September climbed 73% to NT$795 million on sales of NT$7.15 billion. The company cited improved production efficiency and an optimized product mix for the gains.
Looking ahead, Syncmold expects to benefit from the planned end of Windows 10 support and growing demand for AI-capable computers. However, the company faces headwinds from inventory adjustments by major manufacturers in late 2024.
