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Thursday, December 24, 2015

Multi-Code bags RM240mil contracts to supply Proton parts

KUALA LUMPUR: Multi-Code Electronics Industries (M) Bhd (MCE) expects to generate RM240mil in revenue from newly-clinched contracts to supply anti-theft systems, parking sensors and other parts for Proton cars.

The automotive electronics parts manufacturer told Bursa Malaysia that the five-year contracts also included the supply of power regulator systems, functional switches and ignition key set systems.

The supply of the parts will start in the second and third quarters of MCE’s financial year ending July 31, 2016.

The company estimated the initial investment outlay for the projects from Perusahaan Otomobil Nasional Sdn Bhd is RM1.55mil.

MCE, headquartered in Johor, began operations in 1990 to manufacture and supply car alarm systems, central locking and power window regulators. It has grown to become an original equipment manufacturer (OEM) specialising in a full spectrum of design, manufacture and supply of automotive electronics and mechatronics parts for the Malaysian and regional markets.

MCE shares gained 1 sen to close at 84 sen on Wednesday.

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