KUALA LUMPUR (Dec 23): INGRESS CORPORATION BHD [] has received a letter of acceptance from Perusahaan Otomobil Nasional Sdn Bhd (Proton) with a total value of RM84.8 million over a period of five years to supply parts for new Proton models.
The company said on Friday its 90%-owned subsidiary Ingress Precision Sdn Bhd had been contracted to supply door sash.
Meanwhile, its wholly owned unit Ingress Engineering Sdn Bhd (IESB) would supply roof drip moulding and beltline moulding, it said.
Ingress said the supply door sash would start by the end of second quarter financial year (FY) ending Jan 31, 2014 with project duration of five years.
“The project is forecasted to generate total revenue for IPSB of approximately RM70.9 million whilst the total investment in tooling and equipment is expected to cost RM13.8 million,” it said.
It said the supply for the roof moulding project would commence by the beginning of the first quarter of the FY ending Jan 31, 2014, and was expected to generate total revenue for IESB of RM2.3 million.
Total investment for the project was estimated to be RM100,000 in tooling, it said.
Meanwhile, supply for beltline job would start by the end of first quarter of FY ending Jan 31, 2014.
“The project is forecasted to generate total revenue for IESB of approximately RM11.6 million whilst the total investment in tooling and equipment is expected to cost RM800,000,” it said.
Ingress said the projects were expected to contribute positively to its earnings.
The company said on Friday its 90%-owned subsidiary Ingress Precision Sdn Bhd had been contracted to supply door sash.
Meanwhile, its wholly owned unit Ingress Engineering Sdn Bhd (IESB) would supply roof drip moulding and beltline moulding, it said.
Ingress said the supply door sash would start by the end of second quarter financial year (FY) ending Jan 31, 2014 with project duration of five years.
“The project is forecasted to generate total revenue for IPSB of approximately RM70.9 million whilst the total investment in tooling and equipment is expected to cost RM13.8 million,” it said.
It said the supply for the roof moulding project would commence by the beginning of the first quarter of the FY ending Jan 31, 2014, and was expected to generate total revenue for IESB of RM2.3 million.
Total investment for the project was estimated to be RM100,000 in tooling, it said.
Meanwhile, supply for beltline job would start by the end of first quarter of FY ending Jan 31, 2014.
“The project is forecasted to generate total revenue for IESB of approximately RM11.6 million whilst the total investment in tooling and equipment is expected to cost RM800,000,” it said.
Ingress said the projects were expected to contribute positively to its earnings.
