FoundPac expects contract value to increase by at least 10%

In its filings with Bursa Malaysia, Yong Tai said its wholly-owned subsidiary YTB Impression Sdn Bhd terminated the deal due to non-fulfilment of the condition precedent as stated in clause 3.1(c) of the joint development agreement. Yong Tai fell half a sen to close at 32.5 sen yesterday.

GEORGE TOWN: Foundpac Group Bhd expects the contract value of its high-precision engineering components to increase by at least 10% over the next two years to about RM40mil, riding on the global growth of home appliance products and semiconductor equipment spending.

Group chief executive officer C.W. Lee told StarBiz that the group’s test sockets and stiffeners, for example, would be highly in demand in the consumer electronic manufacturing and semiconductor industries.