KUALA LUMPUR: Mestron Holdings Bhd
has secured a S$3.2mil (RM10mil) purchase order from Tamaco Pole Manufacturing Pte Ltd.
The speciality pole maker said the order is equivalent to about 22% of its revenue in FY21 and raises its total order book to RM63mil.
Under the terms of the agreement, the delivery will be done upon the receipt of the delivery memo from time to time, subject to full delivery by end-2023.
“This PO has provided us with opportunities to diversify our earnings base and reduce the reliance on our home market, Malaysia. We believe this is a great opportunity to expand our client base and tap on the rising demand for our products beyond Malaysia," said Mestron managing director Por Teong Eng.
He added that about 93% of the group's revenue in FY21 was generated from Malaysia while less than 2% was from Singapore.
Por said he is confident an established relationship with the Singapore-based company will create a long-term relationship that will add value to Mestron.
