Amlex makes LEAP debut

TheEdge Wed, Sep 26, 2018 10:19am - 5 years View Original


KUALA LUMPUR: Amlex Holdings Bhd, which debuted on the Leading Entrepreneur Accelerator Platform (LEAP) Market yesterday, closed at 16 sen, one sen higher over its placement price of 15 sen.

Barely 64,000 shares changed hands. Its co-founder and managing director Lim Say Soon told reporters after the listing ceremony the floatation exercise will help Amlex raise fund for capacity expansion.

Say Soon said he is upbeat about outlook of the industry the company is in, and that Amlex is “looking at more sales from overseas market and not stopping to strive for a greater growth.”

He also expects the China-US trade spat to present opportunities for the company to generate more business in the future. “I think [the trade spat] will be well placed for us as we got more inquiries from US companies and, to some extent, China companies too,” Say Soon said.

Say Soon said local sales made up about 70% of Amlex’s total sales for the financial year ended March 31, 2018 (FY18), and the rest from overseas, including the Philippines, Thailand Singapore and the US. Amlex’s net profit for FY18 stood at RM2.15 million, with revenue of RM39.25 million.

Say Soon also shared Amlex is now working with a US company to produce light-emitting diode lights for cars and that mass production started last month.

“We are looking at 10-15% increase in earnings by supplying the lead frames to the US company” said Say Soon, adding Amlex is supplying 100,000 units per month to the US client.

Amlex plans to raise its lead frame capacity to 400,000 units per month. It will be adding a new high-speed reel-to-reel electroplating machine and a rack plating machine after its listing.

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