IMI reports Q3 loss, cites global downturn

By Ed Paolo Salting

Nov 08, 2023 12:32 am

The firm said that this was due to losses from STI Ltd. that it still booked while working on a divestment transaction with London-based investment firm Rcapital. The firm announced in August that it had agreed, along with STI's minority shareholders, to sell their respective 80-percent and 20-percent stakes in the firm.

Third-quarter revenues were 3 percent lower year on year at $341 million (P19.09 billion), which the firm said was due to a drop in demand that was 'largely driven by a general slowdown across the electronics industry.'

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