KUALA LUMPUR,. ACE Market debutant QES Group Bhd sees growing demand for semiconductors particularly its automatic vision inspection and automated handling equipment.
Managing director/president Chew Ne Weng said the company is optimistic about the semiconductor industry outlook as more big multinational customers increased their investments in automated handling equipment.
“We believe the semiconductor industry is still riding on the upcycle. Hence, we do not foresee any letdown in global semiconductor sales in the immediate term,” he said in a statement.
QES’ core business is involved in the distribution of inspection, test and measurement equipment, materials and engineering solutions.
QES also manufactures optical inspection equipment, automated handling equipment and advanced wafer measurement system.
Chew said QES intends to develop three key products, expand its recurring income segment by implementing a customer relationship management software as well as diversify its market segments and products to penetrate the higher education, petrochemical and pharmaceutical industries.
Of its total listing proceeds, RM10.72 million (37%) will be used mainly for capital expenditure (capex) to purchase demonstration equipment for its distribution division, increase its production capacity and upgrade its information technology equipment for operational use.
It will further utilise RM7 million (24%) to repay bank borrowings; RM4.85 million (17%) for development of three key products under its manufacturing division; RM3.25 million (11%) for general working capital requirements while the remaining RM3 million (11%) to be used to defray listing expenses.