Ingress Corporation Bhd has received a letter of acceptance from Perusahaan Otomobil Nasional Bhd (Proton) to supply parts worth RM84.8 million for the carmaker's new models.
In a filing to Bursa Malaysia today, Ingress said the five-year contract was for the supply of door sash, roof drip moulding and beltline moulding.
Ingress said the supply of door sash through its 90 per cent subsidiary Ingress Precision Sdn Bhd (IPSB) was expected to commence by the end of the second quarter of its financial year ending Jan 31, 2014.
It said the project was forecast to generate total revenue for IPSB of about RM70.9 million while the total investment in tooling and equipment was expected to cost RM13.8 million.
Meanwhile, the supply of roof moulding project through the company's wholly-owned unit, Ingress Engineering Sdn Bhd (IESB), will commence by the beginning of the first quarter of the financial year ending Jan 31, 2014.
Ingress said this project was expected to generate total revenue of RM2.3 million for IESB and the total investment for the project was estimated at RM0.1 million in tooling.
The supply of beltline moulding through IESB is expected to commence by the end of the first quarter of the company's financial year ending Jan 31, 2014.
This project was forecast to generate total revenue of about RM11.6 million for IESB while the total investment in tooling and equipment was estimated to cost RM0.8 million.
originally posted: Bernama Auto
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