News

Aimflex seeks to diversify into oil & gas, automotive & medical segments



By S. Kisho Kumari

KUALA LUMPUR, March 11 -- Aimflex Bhd plans to diversify into the oil and gas, automotive and medical segments in a move to broaden its manufacturing automation business.

Deputy managing director Emma Yazmeen Yip said the group remained optimistic about the diversification in order to have a more balanced customer portfolio.

“Having the research and development segment established last year, we are hopeful of achieving the diversification in a few years,” she told Bernama after Aimflex's corporate rebranding launch today.

The group, formerly known as i-Stone Group Bhd, was listed under Aimflex Bhd on Bursa Malaysia, effective Feb 25, 2021.

Besides that, Emma said the group also leveraged the digital business specialising in automation, data management, system development, and application solution to build a smart and sustainable workflow.

“We are working on these segments to help and enable companies have a safe and cost-efficient operation.

“This is in line with the uptrend momentum of digital transformation, especially since COVID-19 broke out,” she said.

Managing director Rebecca Tee Sook Sing said Aimflex aimed to set up an office in the Philippines once the pandemic was brought under control as it has four engineers focusing on customers in that country.

As at Dec 31, 2020, she said the group had utilised RM23 million out of the total proceeds of RM39 million from its initial public offering, while the remaining proceeds would be used accordingly in the next two to four years to leverage the business.

Meanwhile, at the event, executive chairman Datuk Awang Daud Awang Putera announced that the company would adopt a dividend payout ratio of at least 30 per cent of profit after tax attributable to the owners of Aimflex for each financial year, excluding any unrealised income from adjustments due to accounting policies.

-- BERNAMA





    Other News

Tax breaks, incentives needed to boost adoption of clean energy

By Siti Radziah Hamzah

KUALA LUMPUR, Oct 12  -- The prolonged lockdown amid the COVID-19 pandemic has had an impact on the energy industry, particularly the small and medium enterprises (SMEs) that provide a major supporting role for the sector’s growth.


Solarvest allocates RM1 mln fund for SIL 2021

KUALA LUMPUR, Oct 11  --Solarvest Holdings Bhd (Solarvest) is allocating RM1 million for its newly-launched Solarvest Innovation Lab 2021 (SIL 2021), a start-up programme to spur innovation and entrepreneurship developments in renewable energy, green technology and financial technology.


Penang approves electrical maintenance project under Maintenance Fund

GEORGE TOWN, Oct 10  -- The Penang government has approved an electrical maintenance project under the 80:20 Maintenance Fund at Block 46, Greenlane Heights here.


    Main Sponsor


    Quotes



© 2021 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy | Security Policy This material may not be published, broadcast,
rewritten or redistributed in any form except with the prior written permission of BERNAMA.

Best viewed in Firefox 58.0.1 (64-bit) & Chrome Version 63.0.3239.132 (Official Build) (64-bit) with 1920 x 1080 resolution

Contact us :
General [ +603-2693 9933, helpdesk@bernama.com ]
Product/Service Enquiries [ +603-2050 4466, portal@bernama.com ]