Friday August 3, 2012
Ingress wins RM25mil automotive contracts
KUALA LUMPUR: Ingress Corp Bhd has won new contracts worth RM24.6mil for its automotive division.
The company said in a filing with Bursa Malaysia that the new contracts were for five to seven years.
The project is expected to commence towards the end of the third quarter of financial year ending Jan 31, 2014 with a project duration of seven years.
This is expected to generate total revenue of 88.3 million baht (about RM8.8mil) for Ingress of Thailand, while the total investment expected at 12.1 million baht (RM1.2mil).
The company also received another contract from Mitsubishi Motors (Thailand) Co Ltd for the supply of sash assembly, beltline moulding and weatherstip for a new model through IAV.
The project will commence in the second quarter of financial year ending January 31, 2014 with a duration of six years.
From this project, the company is expected to garner revenue of 80.4 million baht (RM8mil) while the total investment is expected at 9.9 million baht (RM1mil).
The project is expected to start in the fourth quarter of financial year ending Jan 31, 2014 with a duration of five years.
It is expected to generate revenue of 23.5 billion rupiah (about RM7.8mil) while the total investment stands at 3.6 billion rupiah (RM1.2mil). — Bernama