Latest news with #TanKokKheng
The Sun
26-05-2025
- Business
- The Sun
WTEC Group targets operational efficiency, long-term growth post IPO
KUALA LUMPUR: Manufacturer of foam and non-foam products, WTEC Group Bhd reported a revenue of RM11.2 million for the first quarter (Q1) ended March 31, 2025 (FY25), with its core manufacturing segment contributing approximately 89.7% and trading activities accounting for the remaining 10.3%. The company achieved a gross profit (GP) of RM3.6 million, translating into a stable GP margin of approximately 32.5%. There are no comparative figures for the preceding corresponding quarter and period, as this is the company's first interim financial report, which is being announced in compliance with Bursa Malaysia's ACE Market Listing Requirements. WTEC Group's profit before tax (PBT) was RM1.5 million, while profit after tax (PAT) was RM1.1 million, translating to a PBT margin of approximately 13.5% and a PAT margin of approximately 10.2%. On an adjusted basis, after excluding one-off listing expenses of RM0.2 million, WTEC Group's adjusted PBT and PAT amounted to RM1.7 million and RM1.3 million, respectively. This represents an adjusted PBT margin of approximately 14.8% and an adjusted PAT margin of approximately 11.5%. Group managing director Tan Kok Kheng said following the recent listing, the company is committed to strengthening its position in the manufacturing sector by enhancing both its manufacturing capacity and operational efficiency. 'The continued expansion of Malaysia's automotive, electrical, and electronics industries provides a supportive backdrop for demand in our foam and non-woven fabric products. 'To capitalise on this growth, we are investing in a new ready-built manufacturing facility that will consolidate multiple facilities to improve efficiency, streamline production, and provide the space needed to install new machinery and equipment we plan to purchase. 'The new facility is targeted to commence operations in the second quarter of 2026. 'At the same time, we acknowledge the global trade uncertainties stemming from the recent imposition of reciprocal tariffs by major economies. 'However, our exposure remains limited. Most of our revenue is derived from the Malaysian market, while most international orders are not destined for the US market. 'This domestic-centric revenue base provides insulation against global tariff impacts and supports our continued pursuit of stable, long-term growth,' Tan said. To recap, WTEC Group was listed on the ACE Market of Bursa Malaysia on April 29, 2025 and had successfully raised RM22.5 million through its initial public offering exercise. WTEC Group was listed on the ACE Market of Bursa Malaysia on April 29, 2025 and had successfully raised RM22.5 million through its initial public offering exercise.
The Sun
29-04-2025
- Automotive
- The Sun
WTEC Group forms strategic partnership with China technical foam specialist
PETALING JAYA: Foam and non-foam products manufacturer WTEC Group Bhd today entered into a nemorandum of understanding (MoU) with Jiangsu ChengFeng New Materials Co Ltd (Winfun Foam), a China-based specialist in manufacturing and developing advanced polyurethane-based products. Winfun Foam manufactures and develops advanced polyurethane-based products that are widely used across industries such as automotive, aerospace, rail transport, medical, electronics, water treatment and air filtration. Under the MoU, WTEC Group and Winfun Foam will jointly develop and customise polyurethane foam products, supply and distribute specialty polyurethane foam materials, undertake market development initiatives within Asean member countries and provide technical support. The collaboration leverages both parties' technical expertise, manufacturing capabilities and regional market networks. WTEC Group managing director Tan Kok Kheng said, 'We are delighted to embark on this strategic partnership with Winfun Foam, a recognised leader in advanced polyurethane materials. This collaboration combines the technical strengths and manufacturing excellence of both companies, enhancing our ability to offer high-performance solutions. It will strengthen our presence in the automotive and electrical and electronics (E&E) sectors and enable us to better meet the evolving needs of customers across Asean.' He added that the technical foam materials will complement WTEC Group's existing product range, enabling the company to move further into specialised and higher value market segments where it already holds a strong position, particularly in the automotive and E&E industries. Winfun Foam chairman Ruan Guo Ciao said, 'This partnership offers an exciting opportunity to combine resources and expertise, enabling both companies to accelerate innovation and deliver high-quality polyurethane solutions to the dynamic Asean market. We look forward to working closely with WTEC Group to build a strong, sustainable presence across the region.' The signing of this MoU coincides with a major milestone for WTEC Group, which was listed on the ACE Market of Bursa Malaysia Securities today. Its shares opened unchanged at 25 sen, the same as its initial public offering price.
