Qualampur: Camlite Innovation BHD stated that this year Electrical and Electronic (E&E) sector is expected to increase this year, which is inspired by the increasing demand for high precision electronic components.
Its Chief Operating Officer and Executive Director, Heng Che Khiang stated that this is particularly clear in semiconductor and E&E industries, where surface finishing plays an important role in increasing durability, conductivity and corrosion resistance.
“To meet industrial needs, companies are investing in advanced coating automation and cleaneom capacity to improve process efficiency and maintain stringent quality standards.
“With these favorable market trends, the camelite innovation is well deployed to capitalize on industrial development, attempts to strengthen our market’s presence to take advantage of our extended operating capacity, automation technology, and research and development (R&D) and attempts to meet the growing demand of high-value refinement treatment solutions,” he said.
Heng said this at a press conference yesterday after the company’s listing ceremony in Barsa.
In Opening Gong, the Engineering Support Services Company made his debut in 23 Sen at the Ace Market, a discount of 2 Sen, which was 8% with an initial public offering (IPO) price of 25 Sen with 22.04 million shares.
At the initial price, Heng said that although the price does not meet expectations, the company believed that a range of external factors would improve market performance.
“We focus on executing our strategy development plans, such as expanding our production capacity, further strengthening the presence of our market in the semiconductor and E&E sectors, and the greatest operational efficiency.”
In a statement yesterday, Camlite Innovation stated that it raised RM 30 million from the IPO, where RM 7.8 million would be used to purchase industrial land parcels to construct an additional operating facility in Penang Science Park North to expand its operating capabilities.
It states that RM7 million will be used to install two cleaneoms to provide cleaner cleansing and packaging services to support customers, which are required to upgrade and strengthen their operating capabilities to invest in automation machinery and equipment to invest their operating capabilities and to invest in automation machinery and equipment.
“Meanwhile, RM500,000 from income will be used to establish a dedicated R&D department to run innovation in its surface finishing treatment services; RM5.5 million to repay bank borrowings to strengthen the financial position of the company; IPO processes to cover costs related to the IPO process to cover the costs related to the working capital.” ,
Chong UN Fong, CEO of Camlite Innovation, stated that the company’s production capacity is divided into two markets, which are metal plating and non-metal plating, respectively with a capacity of 80% and more than 60 to 70%.
“With the new future plant (operating facility in Penang Science Park North), and an increase in four plating lines for each metal and non-metal segments, we are seeing 75% and 200% increase in terms of production capacity,” he said. – Bernma
