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Friday, May 25, 2018

Vitrox expects 2018 to be another growth year

CORPORATE NEWS
Friday, 25 May 2018
by david tan

Group chief executive officer Chu Jenn Weng told StarBiz that the growing telecommunications infrastructure, server and automotive markets in these markets would generate strong demand for the group’s products this year

GEORGE TOWN: Vitrox Corp Bhd which expects 2018 to be another growth year for the company, is extending its reach in emerging markets like India, China, Mexico and South-East Asia.

Group chief executive officer Chu Jenn Weng told StarBiz that the growing telecommunications infrastructure, server and automotive markets in these markets would generate strong demand for the group’s products this year.

“In the first three months of 2018, we have secured accumulated sales orders of about RM105mil, which will keep us busy for the next three months.

“The March book-to-bill ratio is 1:2, which means that for every 100 units of products we ship out, we receive 120 units of new orders in the same period. The current book-to-bill ratio is even higher,” he said after the company’s AGM.

He said the company would start operations at its new RM120mil plant in Batu Kawan in July.

He said the new facility would serve as the company’s headquarters as well as research and development hub.

“The plant will more than double our capacity to produce automated inspection equipment,” Chu said.

Vitrox has recently been added into the Morgan Stanley Capital International (MSCI) Malaysia Small-Cap Indexes.

“This will give us an edge in attracting foreign funds,” he added.

Read more at https://www.thestar.com.my/business/business-news/2018/05/25/vitrox-expects-2008-to-be-another-growth-year/#KRjdH6selY7DOT4f.99

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