SKP Resources contract with Dyson worth RM3bil

alaysian Investment Development (Mida) CEO Datuk Azman Mahmud (middle) looking at a vacuum cleaner at the opening of Sin Kwang Plastics Industries Sdn Bhd in Senai, Kula, Johor on Sept 15 while SKP Resources Bhd chairman Datuk Gan Kim Huat and Dyson CEO Jim Rowen look on.

KUALA LUMPUR: SKP Resources has disclosed the five-year contract which it received from its existing customer Dyson Ltd was worth RM600mil a year.

It said on Tuesday the value of the contract was RM600mil a year and the tenure was for five years.

“The company does not foresee any exceptional risk other than the normal business risk associated with the contract,” it said.

SKP Resources provided additional details about the contract which was earlier announced on Monday. The contract is for manufacturing Dyson’s cordless vacuum cleaners.  

The plastic moulding manufacturer said on Monday the contract, which was scheduled to start in January 2016, would contribute significantly to the company’s annual revenue for five years from 2016.

SKP, one of Dyson’s contract manufacturers in Malaysia, assembles a range of Dyson products, including upright vacuum cleaners, hand dryers and bladeless fans.