KUALA LUMPUR (Feb 26): Genetech Technology Bhd announced today that the group has secured new orders worth RM46.1 million.

The orders were secured from its existing clients in the electronics, semiconductor, and hard disk drive industry (RM13.6 million), as well as automotive industries (RM32.5 million), its exchange filing today showed.

According to Genetec, the tenure of the project ranges from three to nine months, depending on its size and scope of works.  

The orders are expected to contributed positively to Genetec’s earnings for its financial year ending March 31, 2020 (FY20).

Shares of Genetec closed three sen or 1.55% lower at RM1.90 today. At its current price, the ACE Market-listed group, principally involved in industrial automation, is valued at RM79.68 million.