KUALA LUMPUR: KESM Industries Bhd is expanding its automotive semiconductor manufacturing capacity, targeting future demand from electric vehicle makers.
“In anticipation of the business recovery and to prepare for the future, we are pleased to announce a new investment of a factory space of more than 100,000 sq ft located in Melaka to support future growth in burn-in and test of automotive semiconductors, ” executive chairman and CEO Sam Lim (pic) said.
KESM’s customers include five of the 10 largest car semiconductor manufacturers in the world. “We are taking a long-term view that the global car market will turn around and continue to grow, ” he said in a statement released after the company’s AGM yesterday.
“The move towards electric and autonomous vehicles will see increased semiconductor content per vehicle, ” he added.
Lim said the company’s balance sheet remains strong, despite the recent slowdown due to the pandemic, with its cash position up from RM200mil to RM230mil.
At the shareholders’ meeting yesterday, the company said all the resolutions tabled were passed by way of poll.