Pensonic to invest RM49m on R&D


Chew: ‘We are targeting to produce new smart home appliances.’

GEORGE TOWN: Pensonic Holdings Bhd has allocated RM49mil for the development of innovative products and for its new research and development (R&D) centre in Penang Science Park till 2016.

Group chief financial officer Alex Kang said that some RM20mil was spent this year for the development of light-emitting-diode (LED) products under the brand name Carinae.

“Another RM29mil will be spent between 2013 and 2016 for our new corporate headquarters cum research and development centre in Penang Science Park, which will be ready next year,” he said after the company AGM.

Kang said the LED products contributed significantly to Pensonic's first quarter ended Aug 31, 2012. (FY12)

On its overseas sales, Kang said the company was targeting for its overseas contribution to grow to 40% by 2015. “Four years ago, it was 10%. In FY12, it grew to 25%.”

Pensonic aimed for the contribution to grow to 30%, and then 40% by 2015, Kang said.

“Saudi Arabia, Egypt, Angola, and Nigeria are key emerging markets that have contributed to our revenue growth,” he said.

Pensonic would enter selective emerging neighbouring markets such as Myannmar, Sri Langka, and Vietnam, where it could form local partnership directly, Kang said.

“This strategy will allow us to gain control over brand management and provide quality services,” he added.

Pensonic managing director Dixon Chew said moving ahead, the company would cooperate with two IT-based companies to explore new products using smart wireless technology.

“We are targeting to produce new smart home appliances with the partners,” he said.

Chew said Pensonic planned to go after any merger and acquisition opportunities that would add value to its existing operations.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3
   

Did you find this article insightful?

Yes
No

Next In Business News

FDA chief Hahn says mid-December vaccine approval just 'possible'
House seen backing bill that could block Chinese firms from US securities markets
Salesforce to buy workplace app Slack in $27.7 bln deal
Oil slides as OPEC+ delays decision on output cuts
Global equity markets jump, bonds dip, on hopes of vaccine-led recovery
Malaysia gets RM110bil worth of investments
Manufacturing PMI at new low
SC grants UEM Sunrise more time
AME Elite proposes to set up industrial REIT
UWC quarterly net profit up 93.5%

Stories You'll Enjoy