Earn a new order of RM47.9 million, Genetec's shares continue to skyrocket! - Kakiforex.com - Financial Market Media No. 1 in the World Earn a new order of RM47.9 million, Genetec's shares continue to skyrocket! Earn a new order of RM47.9 million, Genetec's shares continue to skyrocket!
InstaForex

June 19, 2021

Earn a new order of RM47.9 million, Genetec's shares continue to skyrocket!

 Genetec Technology Bhd's shares on Bursa Malaysia jumped during the early trading session after the company earned a new order of RM47.9 million from existing customers in the Electric Vehicle (EV) segment and batteries and hard disk drives, electronics and semiconductor industries.


At 9.47am, the counter gained 17 sen to RM5.20, with 131,200 shares changing hands.


Genetec through a filing to Bursa Malaysia yesterday said the duration of each project usually takes between three and nine months, depending on the size of the order and the customer's set schedule.



"The scope of work will involve, but not limited to, concept design and details of details, bookings and component parts, fabrication and system installation, software encoding including programming, factory preparation, system testing, installation, accreditation and acceptance by customers," he added. As reported by Bernama


The order is made based on the project and the company does not expect any risks associated with this new order warranty.


Genetec said this order is expected to contribute positively to its revenue for the financial year ended 31 March 2022.