Quick take: Genetec shares at three months high

KUALA LUMPUR: Shares in Genetec Technology Bhd rose to its highest in five months in early trade Friday after securing new orders worth RM47.9mil.

The counter rose 2.98%, or 15 sen to RM5.18, its highest since mid March 2021. So far this year it has risen some 199%.

Genetec said the new secured orders are from the existing customers who are global players in the segments of electric vehicle and battery (RM42.5mil), and hard disk drive, electronics and semiconductor (RM5.4mil).

It said the tenure of each project normally ranges from three to nine months depending on the size of order and time frame specified by customers.

Scope of works will involve but not limited to concept design and detailed drawing, order and receiving of component parts, system fabrication and assembly, software coding and programming, factory setup and system testing and lastly installation, commissioning and acceptance by customers, Genetec said.

“The secured orders are expected to contribute positively to Genetec’s earnings for the financial year ending March 31, 2022,” it added.

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