business

Demand from VS Industry customers to continue with new orders this year 

KUALA LUMPUR: V.S. Industry Bhd believes demand from customers continues to be robust with the newly secured orders from existing key customers.

Electronics manufacturing services provider said the strong order flow would likely sustain in the future.

Managing director Datuk SY Gan said the company had allocated RM150 million in capital expenditure to expand and enhance its capacity and capabilities.

"We have an exceptional year for the financial year ended July 31, 2021 (FY21) as the company delivered its highest-ever net profit of RM245.4 million against the backdrop of a challenging environment," he said in a statement today.

He said the company had in November 2021 spent RM30.0 million to acquire three parcels of adjacent land measuring 386,381 sq ft in Senai, Johor, for future capacity expansion.

"Looking ahead, our focal point remains on providing top quality delivery on a timely basis to our customers while maintaining the standard of excellence in our execution.

"Simultaneously, given the company's cognisance of the high importance on environmental, social, governance (ESG) matters, we are investing further efforts and resources to strengthen our ESG initiatives," he said.

Gan said VS Industry is cautiously optimistic on its prospect while mindful of the challenges.

"As always, we shall strive to deliver to the best of our ability," he said.

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