MCE Holding Berhad (MCE) is set to benefit from the global re-positioning of manufacturing facilities to ASEAN that has created new export opportunity for its sophisticated electronic components and systems for auto vehicles catalysed by the construction of the MCE Auto Hub.

In a press statement, MCE noted that its capacity expansion is progressing as planned, with the construction of an MCE Auto Hub now over 50 percent completed and set to be operational by the second half of next year. This new facility will allow MCE to more than double its production capacity, enabling it to capture a larger share of both the automotive and replacement equipment markets.

The Auto Hub will also significantly enhance the ability to design and develop more sophisticated electronic components and systems, addressing the increasing demand for next-generation vehicles both locally and internationally.

MCE today announced its financial results for the year ended 31 July, 2024 (FY2023/2024). Notably, the manufacturer of automotive electronic and mechatronic systems saw a significant jump of Profit After Tax And Minority Interest (PATAMI) within the fourth and last quarter, up 40.7% year-on-year to RM4.14 million. The stark increase was attributable to lower direct costs, improved operating efficiencies and a rise in other income. For the full year, the group drew in total revenue amounting to RM155.66 million and PATAMI of RM15.96 million, respectively.

"We are pleased with the improvement in profitability achieved during the fourth quarter, where higher efficiencies led to enhanced margins compared to the same period last year. Additionally, we have secured several key long-term contracts in recent months, reaffirming our consistent ability to meet the stringent standards of leading automakers. These achievements strengthen our market position and underscore our positive outlook for continued growth in the years ahead," said the Group Managing Director, Dr Goh Kar Chun.

He added that one of the exciting developments is the company's successful entry into the electric vehicle ("EV") sector, marked by its first contract win. EVs require more complex, higher-value electronic and mechatronic components, that can be readily supported by MCE's in-house R&D and integrated manufacturing capabilities. The group's expertise has led to innovative solutions that meet the advanced requirements of the EV market, enabling it to capture significant opportunities in this dynamic segment.