PETALING JAYA: Industrial lighting manufacturer Success Transformer Corp Bhd (STC) is expected to benefit from the government’s plan to replace street lights nationwide with light-emitting diodes (LED) street lighting.
According to an initiation report by CGS-CIMB, 80% of street lamps in Malaysia are not LED-based and an estimated minimum of 872,269 street lights may be changed under this initiative.
Housing and Local Government Minister Zuraida Kamaruddin had said that plans to replace the street lights will be carried out in stages beginning September this year.
“STC is set to make a mark on the country’s street lighting market with in-house developed flagship products, iLCS and Trimax.
“iLCS is a smart street lighting system that links all the lights via an Internet of Things (IoT) network, which allows better monitoring and control of street lights to ensure cost efficiency and traffic optimisation.
“On the other hand, Trimax is a multi-function street lighting product that combines smart light capabilities with multiple value-adding functions, such as public security supervision and wireless network application,” said CGS-CIMB.
STC manufactures industrial lighting, process equipment, as well as electrical apparatus, specialising in low-voltage transformers.
Apart from being an OEM manufacturer, it also owns various brands like Nikkon, QPS and SES. STC is also among the largest manufacturers of industrial lighting in Southeast Asia. For the financial year ended June 30, 2018, 78% of the group’s revenue was derived from the transformer & lighting division, with the remainder from its process equipment segment. The research house projects STC to record a three-year (FY18 to FY21) earnings per share compound annual growth rate of 31.5%, to be driven by better economies of scale as well as higher sales of street lighting locally and overseas, given STC’s superior products and required accreditations in place.