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GENETEC (0104): GENETEC TECHNOLOGY BHD secures nearly RM58m EV battery contract

KUALA LUMPUR: Genetec Technology has secured new orders worth RM57.90mil for the electric vehicle and battery industry.

In a statement to Bursa Malaysia on Wednesday, it also secured a RM1.60mil contract for hard disk drive, electronics and semiconductors.

The new secured orders are from the new and existing customers who are global players in these industries, it said.

Genetec said the new orders were secured from the previous announcement dated Feb 19 this year and up to the date of this announcement from 14 customers for customised machines of assembly lines and supply of component parts in electric vehicle and battery, hard disk drive, electronics and semiconductor.

“The tenure of each project normally ranges from three to nine months depending on the size of order and time frame specified by customers.

“Scope of works will involve but not limited to concept design and detailed drawing, order and receiving of component parts, system fabrication and assembly, software coding and programming, factory setup & system testing and lastly installation, commissioning and acceptance by customers, ” it said.

Genetec added the secured orders are on a project basis.

https://www.thestar.com.my/business/business-news/2021/03/10/genetec-secures-nearly-rm58m-ev-battery-contract

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