PENANG-based JHM Consolidation Bhd, a company involved in providing electronics and mechanical manufacturing solutions to various customers in the automotive, industrial, consumer, aerospace and medical devices sector, will see its listing transferred to the Main Market of Bursa Malaysia Securities Bhd from the ACE (formerly known as Mesdaq) Market today.
JHM is an investment holding company with six subsidiaries – Morrissey Technology Sdn Bhd, Morrissey Assembly Solution Sdn Bhd, Morrissey Integrated Dynamics Sdn Bhd, JH Morrissey Sdn Bhd, Morrissey Aerosystems Sdn Bhd and Mace Instrumentation Sdn Bhd.
JHM has one factory in Kulim and eight in Sungai Petani, Kedah.
The transfer to the main market would enhance the group’s credibility, prestige and reputation, and accord the company with greater recognition and acceptance among investors – particularly institutional investors.
The move would also reflect JHM’s current scale of operations and in turn, it is expected to improve the liquidity and marketability of JHM shares.
Its chief executive officer Datuk Tan King Seng said by the third quarter of next year, the company will provide manufacturing support in supplying 5G and fibre optic parts to a United States company.
“We will acquire a plot of land in Batu Kawan on the mainland where a state-of-the-art 100,000sqft facility will be built.
“When the facility is in full swing, we expect to create at least 500 new jobs, ” he said.He added that JHM has also entered into a memorandum of understanding with US-based company MASS Precision Inc on Oct 15 to create an efficient and effective supply chain by setting up a joint-venture company at a later date to support the semiconductor industry in Malaysia and the Asia Pacific region.
“This MoU will cement the collaboration between MASS and JHM in setting up a manufacturing facility in Penang.
“This collaboration will enable us to provide better manufacturing support and services to our existing and new customers in Penang and the Asia Pacific region.
“The semiconductor industry continues to grow by leaps and bounds with robust demands coming from 5G, cloud computing, artificial intelligence, electric vehicles, automation, pharmaceutical, life sciences and the medical sectors, just to name a few.
“This new venture would allow us to expand our capabilities and capture the opportunities in these new growing technology trends, ” he said.
Tan said that through the joint venture company, JHM would set up a facility to better expand its products and services through design, research and development, engineering support, new programme introduction (NPI) transfer and automation.
“Among the key features of the upcoming facility will be the introduction of robotics and AI application, which will reduce human-centric dependency and accelerate the adoption of Industry 4.0.
“This will enable us to meet the most stringent expectations of our customers along with the rapid pace of technological advancement in the semiconductor industry, ” he said in an interview recently.
Tan added that the world’s largest supplier of automotive lighting systems, North American Lighting Inc, will also be a new customer of JHM Group.
“We are also hooking up with Volvo Trucks in the US and we’ve secured a US$1.3mil (RM5.35mil) order from them for next year.”
JHM Group is an engineering solutions provider delivering customised solutions to the following sectors – automotive, industrial, aerospace, medical devices and consumers.The group is involved in the entire automotive LED lighting modules product development process – from conceptualising, designing, manufacturing to testing of the said modules which are then shipped to its customers who in turn supply to Tier One automotive manufacturers in the US.
The group’s history began with the incorporation of Morrissey Technology Sdn Bhd on Sept 5,2000, and was principally involved in the precision manufacturing of critical components for direct current micromotors (known as motor core).
In 2019, JHM was awarded The Focus Malaysia Best Under Billion Awards for Best Cashflow in the Best Operations Category (RM500mil to RM950mil) and The Edge Malaysia Centurion Club and Corporate Awards for Highest Returns to Shareholders Over Three Years (Technology Sector).
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