Elsoft focuses on auto sector to drive LED business

file pix....ELSOFT RESEARCH Chief Executive Officer TAN CHEIK EAIK.

GEORGE TOWN: Elsoft Research Bhd is looking at the automotive sector to drive growth in its light-emitting diode (LED) business this year.

Group chief executive officer C.E.Tan (pic) said that the group had secured orders for 30 units of LED test equipment with a market value of RM15mil in the second quarter.

“Of the 30 units, 20 are for the automotive sector, which will be delivered in the third quarter.

“The demand for LED testers from the automotive industry has increased because of the adoption of daytime running lights for head lamps in cars.

“Previously, LEDs were only used for the display panels inside the cars and in the rear end,” he said.

Tan said the demand from the smart device segment is expected to be slower this year, as there are fewer new smart devices requiring test equipment with new functions.

“This has impacted the orders of our test equipment in the second quarter, which is slow compared with the corresponding period a year ago,” he said.

In the second half of 2015, the group aimed to launch embedded or computer systems for controlling medical devices.

“This segment should impact on the results positively either in late-2015 or in 2016,” he said.

In 2016, the group expected its associate companies to generate at least 10% of Elsoft’s bottomline.

“Lesoshoppe.com, one of our associate companies involved in the running of an e-commerce portal for test and measurement instruments, expects to reap benefits from its expansion into the Asia-Pacific market.

“Elsoft holds a 30% stake in Lesosoppe.com. The other associate company, Butterfly House (Pg) Sdn Bhd, is also expected to contribute positively next year after a major expansion exercise taking place now,” he pointed out.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Automotive , business , Elsoft , Tan , LED , stocks , shares ,


Next In Business News

Selangor business summit and aviation shows a success
No merger but a separate entity to be formed, says Capital A
Saudi Arabia cuts January crude oil price, but is it enough?
Public-private tie-ups seen vital for Vietnam agro sector
Baker Hughes charges up China development strategies
Undervalued Vietnam banks winning bet for investors
Indonesian EV producers upbeat on subsidies
GM-linked BrightDrop unveils Canada’s first large EV factory
Investors bet on Fed side-stepping recession
Twitter faces more legal fallout over worker firings

Others Also Read