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
Malaysia Airports Holdings Berhad (MAHB) reported a strong 10% year-on-year increase in passenger movement for the third quarter of 2024, with a total of 36.1 million passengers, nearing pre-pandemic numbers. The growth was primarily driven by international passenger movement, which exceeded 3Q2019 levels by 7.4%, reaching 18.9 million passengers.
Domestic travel, although recovering at a slower pace, reached 88.9% of pre-pandemic levels, accounting for 17.2 million passengers. Factors contributing to this growth include the introduction of new airlines and routes, visa exemptions for travelers from China and India, and the steady rise in air travel demand.
MAHB's local airport network also showed strong performance, with over four million international passenger movements each month in 3Q2024, reaching 99.3% of 2019 levels in September. Overall, passenger movement at Malaysian airports totaled 24.8 million for the quarter, representing 92.3% of 2019 levels.
The addition of five new airlines — 9 Air, Air India, AirAsia Cambodia, Lucky Air, and Qingdao Airlines — along with 197 new weekly flight frequencies contributed to this recovery. The visa-free extension for Mainland Chinese visitors until December 2025 further boosted passenger numbers, with weekly flight frequencies surpassing 3Q2019 by 24.8%.
MAHB’s international operations at Istanbul Sabiha Gokcen International Airport also performed well, with 11.3 million passengers in 3Q2024, up 12% from the same period in 2019. International passenger movements at the Turkish hub rose 43.7%, driven by new routes from Pegasus Airlines to Iran and Spain.
Looking ahead, MAHB is optimistic about continued growth, fueled by network expansion and seasonal demand.
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