KUALA LUMPUR: Provider of precision machining and engineering supporting services AmBest Group Bhd expects higher revenue growth from future orders as supported by sustained demand from the semiconductor sector and artificial intelligence (AI)-related requirements.
AmBest managing director Tan Beng Beng said the group is seeing continued order inflows from both existing and new customers, driven largely by AI-focused demand.
"Today’s technology is (undergoing) upgrades. I think semiconductor is one of the very important parts, while AI can evolve in all sectors, so I believe demand will keep growing,” he said at the company’s post-listing press conference.
At the opening gong, AmBest debuted on the ACE Market of Bursa Malaysia at 29 sen, a premium of four sen over its initial public offering price of 25 sen, with 18.35 million shares traded.
Meanwhile, Tan said AmBest is positioning itself to support the rising technological complexity in the semiconductor supply chain by focusing on higher-precision, more complex machining components.
He said the company is strengthening its front-end semiconductor capabilities while upgrading technical readiness to meet increasingly demanding customer specifications.
At the same time, he said the group is working to diversify its industry exposure by pursuing additional certifications, including in the medical and aerospace segments, as part of efforts to mitigate sector concentration risks.
Regarding post-listing plans, Tan said the group is commissioning new machines at its Facility 42A in Bayan Lepas, Penang.
He said the facility is currently being used partly for warehousing while installation and testing of production machinery are ongoing to prepare for manufacturing scale-up.
It is expected to be fully utilised once approvals are obtained for the expansion of the production floor, with full operations anticipated by the end of the year, he added. - Bernama
