KUALA LUMPUR: The electrical and electronics (E&E) sector is expected to grow this year, driven by the rising demand for high-precision electronic components.
Chemlite Innovation Bhd chief operating officer and executive director, Heng Chee Khiang, said this is especially evident in the semiconductor and E&E industries, where surface finishing plays a critical role in enhancing durability, conductivity, and corrosion resistance.
“With these favourable market trends, Chemlight Innovation is well-positioned to capitalise on industrial growth, leveraging our expanding operating capacity, automation technology, and research and development efforts to strengthen our market presence and cater to the rising demand for high-value surface finishing treatment solutions.”
The engineering support services company debuted at 23 sen in the ACE Market, a discount of two sen, which was an 8% decrease from the initial public offering (IPO) price of 25 sen, with 22.04 million shares traded.
Chemlite Innovation said it raised RM30mil from the IPO, where RM7.8mil would be utilised to purchase a parcel of industrial land to construct an additional operating facility in Penang Science Park North to expand its operational capabilities.
The RM7mil would be used to set up two cleanrooms to provide cleanroom cleaning and packaging services to support customers who require contamination-free environments.
Chemlite Innovation closed down two sen, or 8%, at 23 sen yesterday with 70.48 million shares traded. –– Bernama
