Kinergy Corporation Ltd. provided consolidated earnings forecast for the six months ended 30 June 2023. For the period, the company it is expected that the Group will record a net profit after tax of approximately SGD 0.1 million, as compared to a net profit after tax of approximately SGD 2.7 million for the six months ended 30 June 2022. The decrease in the Group's expected net profit after tax of approximately SGD 2.6 million or 96.3% for the six months ended 30 June 2023 is primarily attributable to the decrease in revenue from Electronics Manufacturing Services division
due to the continued decline in global demand for semiconductor chips in the industry.