Pentamaster commits RM200 mil for expansion – Pentamaster
Summary
GEORGE TOWN: Pentamaster Corp Bhd will spend RM200mil in 2024 and 2025 to complete its third plant and set up two design and development centres in the United States and Europe. Chuah said the group planned to set up design and development centres in California and Munich this year to serve electric vehicle (EV) and medical technology customers. According to the Korea Automotive Technology Institute, global automobile sales are estimated to increase by 10.4% to 90.1 million units in 2023 compared to the previous year. After recording a remarkable double-digit revenue growth for the nine months ended on Sept 30, 2023, Pentamaster is confident of posting a record-breaking result in the full financial year (FY23). Meanwhile, Phillip Capital Research expected the demand for insulated gate bipolar transistors (IGBT) and silicon carbide (SiC) batteries in EVs to drive Pentamaster’s growth.