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TSMC Posts 54% Profit Surge in 3Q, Boosted by AI Chip Demand and Optimistic on Future Growth

Taiwan Semiconductor Manufacturing Co (TSMC) , the world’s largest contract chipmaker, reported a 54% jump in quarterly profit , surpassing forecasts, thanks to soaring demand for AI-related chips . This robust performance underscores TSMC’s dominance in producing advanced chips for AI applications, with key customers like Apple and Nvidia . TSMC's net profit for 3Q2024 reached T$325.3 billion (US$10.11 billion) , exceeding the T$300.2 billion forecasted by analysts. The company's revenue rose 36% year-on-year to US$23.5 billion , driven by strong demand for smartphone and AI chips utilizing its cutting-edge 3nm and 5nm technologies . The AI boom has been a major growth driver, with AI processors expected to account for a mid-teens percentage of TSMC's overall revenue for 2024. TSMC's capital spending for the current quarter is set to more than double to US$11.5 billion , and it expects capital expenditure to increase further in 2025 as demand remains robust. Chai

Insider Moves: Corporate Updates from Malaysia

Ancom Nylex Bhd (KL)

In a significant development, Helm AG, a Hamburg-based chemical marketing firm owned by CEO Stephan Schnabel, became a substantial shareholder in Ancom Nylex Bhd. On Sept 23, Helm subscribed to 96.22 million new shares at RM1 each through a private placement. Additionally, Helm is set to purchase 30 million treasury shares from Ancom Nylex, bringing its total stake to 13.6% post-placement. This investment is expected to help Ancom Nylex expand its presence in Europe and the Americas.

Before the placement, Helm acquired 48.5 million shares, representing a 5.01% stake, and further increased its holding to 13.9% by the end of the week through additional purchases.

Barakah Offshore Petroleum Bhd (KL­KAH)

Barakah Offshore Petroleum Bhd witnessed a notable change in its shareholding as Baxtech Resources Sdn Bhd, its second-largest shareholder, exited by selling its 6.7% stake on Sept 18. Following this, Group President and CEO Datuk Seri Nik Hamdan Daud acquired an equivalent number of shares, raising his direct shareholding to 16.94% from 9.19%. The transaction, based on the closing price of 5 sen per share, was valued at RM3.34 million.

Fiamma Holdings Bhd (KL)

On Sept 19, Casa Holdings Ltd sold its entire 14.1% stake in Fiamma Holdings Bhd, ceasing to be the company's second-largest shareholder. Fiamma, a distributor of electrical appliances and healthcare products, is now primarily owned by Signature International Bhd, which holds a 22.63% stake. As Signature International is 71.7% owned by Chin Hin Group Bhd (KL), Chin Hin effectively holds 16.22% of Fiamma.

WMG Holdings Bhd (KL)

WMG Holdings Bhd, a property developer and hardware supplier, saw its largest shareholder, Syarikat Kretam (Far East) Holdings Sdn Bhd, increase its stake to 76.41% through the conversion of 422.56 million irredeemable conversion preference shares to ordinary shares. As a result, WMG’s public shareholding fell below the required 25%, prompting the company to address compliance with listing rules.

Chin Hin Group Bhd (KL)

Chin Hin Group Bhd experienced a 22.18% drop in share price, falling to RM2.07 by Sept 27, in a volatile month that saw the stock lose 38.4% of its value. Despite this, Chin Hin's founder, Datuk Seri Chiau Beng Teik, increased his direct shareholding to 22.47% and his indirect shareholding to 37.78% through Divine Inventions Sdn Bhd. His son, Chiau Haw Choon, holds a 5.75% direct stake in the company.

These movements reflect shifting dynamics in several key companies as significant stakeholders realign their positions in response to market conditions.


source: theedgemalaysia

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