KUALA LUMPUR (Feb 4): Genetec Technology Bhd said it has secured new orders worth RM38.5 million in January this year from new and existing customers.

In a bourse filing today, Genetec said of the orders, RM31.5 million was from its automotive sector customers, while the remaining RM7 million was from the electronics, semiconductor and hard disk drive sector.

Genetec said the new orders were secured from 12 customers for customised machines of assembly lines and supply of component parts in electronic, semiconductor, hard disk drive and automotive industries.

It said the tenure of each project normally ranges from 3 to 9 months depending on the size of order and scope of work involved.

"The secured orders are expected to contribute positively to Genetec's earnings for the financial year ending March 31, 2021," it said.

At the midday break today, Genetec shares rose 1.56% or 2 sen to RM1.30, valuing the group at RM54.99 million.