Kuala Lumpur: Automated manufacturing solutions provider, ECA Integrated Solution Bhd
(ECA), made a strong debut on the ACE Market of Bursa Malaysia at 65 sen – a 282.4% premium over its initial public offering (IPO) price of 17 sen.
The Penang-based tech company saw an opening volume of 10.04 million shares changing hands.
ECA executive director and chief operating officer Chua Lye Hock said yesterday’s listing marked a significant milestone in the company’s corporate history and he was pleased with the strong opening price.
“I believe this is a reflection of investors’ confidence in our business and future prospects. In return, we will work hard to elevate our group to the next level of growth.
“We will expand our output and enhance our capability, as well as offer smart factory solutions,” he said in a statement yesterday.Chua said its smart factory solutions were a natural progression for the company as it has been providing smart manufacturing solutions since October 2020.
“The former involves greater methodological planning as well as design and development efforts to integrate and automate both the manufacturing and non-manufacturing processes of our customers’ manufacturing facility using the Internet of Things.“We have received enquiries from a key customer on this and are currently working on the conceptualisation and design of smart factory solutions for them,” he added. — Bernama
