EPMB unit secures Proton seat job

PETALING JAYA: EP Polymers Sdn Bhd (EPP) has secured a contract by Perusahaan Otomobil Nasional Sdn Bhd (Proton) to supply car seats for future car models of Proton.

EPP is a wholly-owned subsidiary of EP Manufacturing Bhd (EPMB) and its principal activities include manufacturing, fabricating, producing and dealing with plastic engineering components and parts.

In a filing with Bursa Malaysia, EPMB said among the conditions stipulated in the letter of acceptance (LoA) are such that should it be appointed the first or second-tier vendor, EPP shall be directly responsible to Proton for the manufactured parts and to ensure timely delivery of the products to Proton.

The group said it is not expecting the LoA to bring about any significant effect on its earnings, net assets and gearing for the financial year ending Dec 31, 2022.

EPMB’s share price was down one sen yesterday to close at RM1.18. However, the stock is up 6.3% year-to-date.

For its second quarter ended June 30, 2022, EPMB reported a lower net loss of RM1.73mil compared with a net loss RM4.98mil in the previous corresponding period.