Latest news with #GohKarChun
New Straits Times
26-06-2025
- Automotive
- New Straits Times
MCE earnings more than double in Q3 despite slight revenue dip
Business Times KUALA LUMPUR: MCE Holdings Bhd's net profit for the third quarter ended April 30, 2025, jumped 151 per cent year-on-year to RM6.08 million, driven by a sharp increase in other income and lower raw material and employee costs. In a filing with Bursa Malaysia, the group said it recorded other income of RM876,000 compared to RM265,000 a year earlier, while raw material costs fell to RM18.3 million from RM19.4 million. Employee benefits expenses also declined to RM7.64 million from RM8.12 million previously. Quarterly revenue, however, slipped 1.6 per cent to RM36.8 million from RM37.4 million, primarily due to weaker demand for certain automotive parts. MCE attributed the stronger bottom line to improved operational efficiency and higher interest income, in addition to cost savings. Group managing director Goh Kar Chun said the results reflected the company's resilience amid a challenging environment. "We continued to deliver a solid performance amidst an evolving yet challenging operating environment. Our results reflect the strength of our fundamentals and the discipline of our team as we head into the final quarter of the financial year," he said in a statement. Earnings per share rose to 4.43 sen from 1.96 sen. No dividend was declared for the quarter under review. For the nine-month period, MCE paid a total dividend of RM1.85 million. As at April 30, the group's cash and bank balances stood at RM19.65 million, up from RM15.83 million at end-July 2024. Short-term investments rose sharply to RM89.64 million from RM33.66 million, bringing total current assets to RM149.3 million. Total liabilities increased to RM74.3 million from RM61 million, mainly due to higher term loans, which more than doubled to RM22.4 million from RM12 million previously. Looking ahead, MCE expects future earnings to benefit from the launch of Perodua's first electric vehicle by year-end, for which it will supply key components including multimedia units and the Advanced Driver Assistance Systems (ADAS). The group noted it has been appointed to supply a wide range of parts for the model, including multimedia display units, instrument panel clusters, switches, interior lighting, and ADAS modules. Its upcoming Serendah manufacturing plant, slated to begin operations by end-2025, is also expected to boost production capacity and support next-generation automotive technologies. Goh said the new facility "will significantly increase MCE's capacity, enabling it to scale up its offerings in high-value automotive electronics." The Serendah plant would also support MCE's diversification into non-automotive contract manufacturing through a joint venture with Hong Kong-based Sounding Industries Ltd and enhance its presence in the ADAS segment via a collaboration with Nanjing Chuhang Technology Co Ltd. "Looking ahead, MCE remains focused on driving sustainable long-term growth by strengthening our technological capabilities and capturing emerging opportunities across Malaysia and key export markets," Dr Goh said.
The Star
19-05-2025
- Automotive
- The Star
MCE, Nanjing Chuhang Technology sign JV to produce driver assistance radar
KUALA LUMPUR: MCE Holdings Bhd has signed a joint venture (JV) with Nanjing Chuhang Technology Co Ltd (NCT) to produce driver assistance radar. In a statement today, MCE said the JV builds on the memorandum of understanding signed in November 2024 between its wholly owned subsidiary MCE Ventures Sdn Bhd and NCE. It said a new JV company will be formed where MCE will own 51 per cent and NCT will hold the remaining 49 per cent. MCE said the new JV company would develop, manufacture, and market automotive millimetre-wave radar, a key component of advanced driver assistance systems (ADAS) and automated driving applications, for domestic and global markets, excluding China. "These sensors are essential to vehicle safety and serve as a core enabler of next-generation vehicles equipped with assisted or autonomous driving functions, allowing them to detect, interpret, and respond to their surroundings with precision and reliability. "The JV strengthens both parties' positions in these fast-growing segments and enhances their ability to meet rising global demand for intelligent mobility solutions,' it said. MCE group managing director Dr Goh Kar Chun said the joint venture with Nanjing Chuhang Technology is an important leap for the company as it expands its expertise and broadens offerings in advanced automotive electronics. "It prepares us to cater to the growing global demand for smart mobility technologies and reinforces our ambition to deliver high-value and sophisticated solutions from Malaysia for the domestic market as well as to the world,' he said. The signing of the JV took place at the Malaysia Pavilion during World Expo 2025 Osaka as part of the Malaysia Automotive, Robotics and IoT Institute's (MARii) NxGv: Game Changer in Energy Transition and Mobility event. Meanwhile, in a filing with Bursa Malaysia, MCE said the JV is expected to contribute to the MCE Group's performance from the second quarter of the financial year ending July 31, 2026. - Bernama
Daily Express
15-05-2025
- Automotive
- Daily Express
MoUs to support localisation of Chery Malaysia's production
Published on: Thursday, May 15, 2025 Published on: Thu, May 15, 2025 By: Bernama Text Size: Kuala Lumpur: MCE Holdings Bhd, through wholly owned unit Multi-Code Electronics Industries Bhd, has signed memoranda of understanding (MOUs) with two Wuhu, China-based companies—Cheling Smart Mobility Technology (Wuhu) Co, Ltd (CSM) and Wuhu Atech Automotive Electronics Co Ltd—to support the localisation of Chery Malaysia's production. The original equipment manufacturer said the parties seek to work together on several key areas, including the local production of automotive parts and components, the transfer of technology and technical know-how, and ensuring compliance with Chery's rigorous quality standards. 'The parties are also committed to developing local talent through training and upskilling initiatives, and may explore joint investments in tooling or facilities to support production needs,' it said in a statement. MCE Group managing director Dr Goh Kar Chun said the MoUs reflect MCE's strong track record in design and manufacturing as well as the company's commitment to support automakers in their localisation journey. 'With deep local insights and proven capabilities, we are well placed to help global players establish and grow their presence in Malaysia, while contributing to a more resilient and competitive supply chain,' he said. According to MCE filings with Bursa Malaysia, CSM is primarily engaged in the development and operation of smart mobility solutions while Wuhu Atech Automotive Electronics specialises in the design, development, manufacturing, and sales of automotive electronic products.
Daily Express
24-04-2025
- Automotive
- Daily Express
MCE expands presence with jvis, Perodua, Proton deals
Published on: Thursday, April 24, 2025 Published on: Thu, Apr 24, 2025 By: Bernama Text Size: The newly secured domestic contracts with Perodua comprise multiple projects valued at approximately RM41.33 million for its two upcoming models, an electric vehicle (EV) and an internal combustion engine (ICE) vehicle. - FMT pic for illustration only Kuala Lumpur: MCE Holdings Bhd has secured multiple new contracts with a combined value of approximately RM120.67 million. The contracts were awarded to MCE's subsidiaries, with Multi-Code Electronics Industries (M) Bhd securing projects from JVIS USA LLC (JVIS) and Perusahaan Otomobil Kedua Sdn Bhd (Perodua), while MCE Hengtuo Sdn Bhd was awarded the contract from Proton Holdings Bhd. In a statement, MCE said that these wins reinforce its position as a trusted supplier of automotive electronics and mechatronic components to leading automakers at home and abroad. MCE continues to gain traction in its push to grow its export market presence, securing a RM69.59 million supply contract with JVIS, a Michigan-based automotive components supplier serving top-tier global carmakers. The 60-month contract, which follows an earlier engagement, will see MCE supplying mechatronic components for a vehicle model in the US market, with production scheduled to commence in the first quarter of the financial year ending July 31, 2027. The newly secured domestic contracts with Perodua comprise multiple projects valued at approximately RM41.33 million for its two upcoming models, an electric vehicle (EV) and an internal combustion engine (ICE) vehicle. MCE will supply a range of electronic and mechatronic components, with the EV model running for 36 months starting in Q2 FY2026, and the ICE model over 72 months beginning in Q1 FY2027. In addition, MCE has secured a 60-month supply contract with Proton for mechanical and mechatronic parts for a new car model, valued at approximately RM9.75 million. The project will begin in the first quarter of the financial year ending July 31, 2026. MCE group managing director Dr Goh Kar Chun said these contracts reflect the trust that leading automakers, both at home and abroad, have placed in MCE to deliver advanced and cost-effective automotive components, even amid a time of heightened volatility and shifting global trade dynamics. 'Our ability to engineer solutions for a wide range of customer needs, from conventional ICE vehicles to next-generation EVs, and across local and overseas markets, reflects not only the strength of our in-house expertise, but also our agility in navigating today's complex operating environment,' he said. This focus is also in line with the government's aspiration for Malaysia to be a regional hub for next-generation vehicles, as outlined in the National Automotive Policy. MCE is a leading original equipment manufacturer (OEM) engaged in the engineering, design and manufacturing of automotive electronics and mechatronic parts for the Malaysian and regional markets.
New Straits Times
23-04-2025
- Automotive
- New Straits Times
MCE wins RM121mil supply contracts in US, Malaysia
KUALA LUMPUR: MCE Holdings Bhd has secured a slew of new contracts across international and domestic markets, with a total value of RM120.67 million awarded through its subsidiaries. One of its subsidiaries, Multi-Code Electronics Industries (M) Bhd, has entered into a RM69.59 million agreement with JVIS USA LLC, a United States-based supplier to major global carmakers. The deal spans a period of 60 months and involves the provision of mechatronic components for a vehicle model in the US. Production under the contract is expected to begin in the first quarter of the financial year ending July 31, 2027 (FY27). Back home, the same subsidiary has secured new orders from Perodua valued at approximately RM41.33 million. These contracts relate to two upcoming models—one electric and one powered by a conventional internal combustion engine. Supply for the electric vehicle model is scheduled to run for 36 months starting from the second quarter of FY2026, while the ICE model will see deliveries over 72 months starting in the first quarter of FY27. Separately, MCE Hengtuo Sdn Bhd, another unit of the group, has been awarded a RM9.75 million contract by Proton. The scope includes mechanical and mechatronic parts for a new vehicle model, with the project scheduled to begin in the first quarter of the financial year ending July 31, 2026. "These contracts reflect the trust that leading automakers, both at home and abroad, have placed in MCE to deliver advanced and cost-effective automotive components, even amid a time of heightened volatility and shifting global trade dynamics," said MCE group managing director Goh Kar Chun in a statement.
