has since the start of the year secured orders worth a total of RM38.5mil from new and existing customers in the electronics and automotive industries."The new orders were secured for the month of January 2020 and up to the date of this announcement from 12 customers for customized machines of assembly lines and supply of component parts in electronic, semiconductor, hard disk drive and automotive industries," it said in a filing with Bursa Malaysia.
The group added that the tenure of each project ranged from three to nine months depending on the size, scope and requirements of the contract.
According to Genetec, the secured orders are expected to contribute positively to its earnings for the financial year ending March 31, 2021.
The secured orders are not expected to have any material effect on the net assets per share of the company for the financial year ending March 31, 2020.
At 12.30pm, shares in Genetec were up two sen to RM1.30 apiece with 149,200 units traded.
