CEO Morning Brief

MCE Holdings’ Unit Secure Auto Parts Supply Contract to Proton

Publish date: Fri, 21 Jul 2023, 09:03 AM
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TheEdge CEO Morning Brief

KUALA LUMPUR (July 20): MCE Holdings Bhd’s unit has secured contracts to supply various electronic and mechatronics parts for Proton’s new car model.

In a filing to the stock exchange on Thursday (July 20), the auto parts manufacturer said its wholly-owned subsidiary Multi-Code Electronics Industries (M) Bhd is expected to supply parts for a duration of 35 months from the first quarter of the financial year ending July 31, 2024 (FY2024) onwards.

The project is expected to generate total revenue of approximately RM13.24 million for MCE over the 35-month period whilst the estimated total investment cost is RM610,000.

In the third quarter ended April 30, 2023 (3QFY2023), MCE’s net profit jumped 67% to RM4.7 million from RM2.8 million a year ago, while its revenue increased 39% to RM39.31 million from RM28.1 million a year earlier.

According to the group's website, MCE manufactures and supplies car alarm systems, central locking and power window regulators.

Shares of MCE were traded one sen higher or 0.55% to RM1.82, valuing the auto parts maker at RM112.44 million.

Source: TheEdge - 21 Jul 2023

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