March 10, 2015
KUALA LUMPUR (Mar 10): Genetec Technology Bhd has secured new orders totalling RM40.6 million, it said in an announcement today.
According to its filing to Bursa Malaysia, up to RM34.5 million of the orders were from the group’s existing clients from the electronics, semiconductor and hard disk drive (HDD) industries.
The rest were from the automotive and other industries.
Genetec (fundamental: 1.2; valuation: 1.2) said these orders are expected to contribute positively to its earnings for the financial year ending Mar 31, 2015 (FY15) and FY16.
“The tenure of the contracts normally range from three to nine months, depending on the size of order and scope of work,” Genetec said.
“The contracts are on project basis and we do not foresee any risk pertaining to new secured orders,” it added.
The group’s businesses involve providing design and manufacturing automated industrial systems, equipment and services.
Genetec’s clients also from HDD, electronics, the automotive, hazardous material, containment, and pharmaceutical sectors.
Genetec inched up half sen or 3.23% to close at 16 sen today, with 1.6 million shares done. It has a market capitalisation of RM54.52 million.
March 10, 2015
theedgemarkets.com
