Q2 2023 Integrated Micro-Electronics Inc Earnings Call Transcript
Good afternoon, everyone. As many of you may know, we made an announcement earlier today about our divestment in STI. Along with the financials, we'll be talking about that transaction as well. Joining us today are our President, Jerome Tan; and our CFO, Laurice Dela Cruz. Jerome?
Good afternoon, everyone. We'll start off with the usual economic growth outlook. The latest economic growth outlook -- this was based on a report in July, showed a slight improvement in the 2023 global outlook to 3%. If you look at the upper left, compared to the April data showing 2.5% -- sorry, 2.8% growth, so a slight improvement versus the April data. The improvements came mostly from the resilient U.S. economy that continue to be strong or to have strong consumer support and labor market despite the high interest rate environment. I guess this positive news is a relief for IMI as well -- as well as a lot of the businesses, as the severe global recession scenario caused by the rising inflation
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