Genetec gets new orders worth RM38.5m in January

TheEdge Wed, Feb 05, 2020 10:13am - 4 years View Original


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

In a bourse filing, the group 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 the electronics, semiconductor, hard disk drive and automotive industries.

It said the tenure of each project normally ranges from three to nine months depending on the size of the order and the 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.

Genetec shares rose two sen or 1.56% to RM1.30 yesterday, valuing the group at RM55 million.

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