INGRESS SECURES 4 NEW CONTRACTS
Listed auto-part maker Ingress Industrial (Thailand) Plc has won four new contracts worth a total of Bt1.3 billion from top automakers that will boost the company’s revenue and net profit this year, chief executive officer Abdul Rahin bin Haji Hitam said yesterday.
The company has reported a total revenue of Bt711 million in the first quarter of this year, up 6.86 per cent from Bt665.3 million in the same period last year.
The four new contracts are orders for Perodua's new model in Malaysia as well as orders for new models for Isuzu, Ford and Mazda in Thailand.
As of now, the company has more than Bt4 billion of contracted orders to boost its revenues in the next 5 years.
“We plan to invest Bt366 million in 2018-2019 for these projects. We believe the auto-part business outlook is still strong and expect the Malaysian market to recover next year when Proton, one of the main market leader, will has completed its business transformation and introduce new products, he said.