KUALA LUMPUR: Greatech Technology Bhd
remains confident that the group is making good progress in its financial targets for 2023.
“The group has allocated approximately RM227mil for its targeted capital expenditure investment in 2023 to support operating and growth requirements, which includes a new fourth factory in Batu Kawan Industrial Park (BKIV), Penang with built-up of approximately 600,000square feet, to capture the growth potential in our markets around the world,” Greatech said in a filing with Bursa Malaysia.
As of May 2, Greatech’s order book stood at approximately RM650mil, which is expected to last until first half of 2024.
In the first quarter ended March 31, it posted a lower net profit of RM27.8mil, or earnings per share of 2.22 sen from RM28.9mil, or 2.31 sen previously.
Revenue rose 11.3% to RM113.7mil against RM102.16mil a year ago.
Meanwhile, Greatech has appointed Datuk Ooi Boon Chye as an independent and non executive director effective May 15.
Ooi, 69, was a former senior vice president of global operations at Broadcom Limited, previously Avago Technologies. He was responsible for managing worldwide manufacturing, manufacturing engineering, outsourcing, procurement, logistics, central planning and quality programs, and retired in 2021 after 12 years with Broadcom.
