JOHOR, MALAYSIA – Contract manufacturer ATA IMS forecasts fiscal 2021 revenue growth of 30% and fiscal 2022 growth of 25%, according to reports. Fiscal 2022 revenue is expected to be RM1.5 billion (US$370.8 million). Revenue from contracts with customers other than the company’s main customer is anticipated to account to up 30% to 35% of total revenue for fiscal 2022.

The company has five new customers, including one in the US, and stands to benefit from new technology investment plans in the UK, Singapore and the Philippines.

ATA IMS now has original design manufacturing capability and has a large high-tech home appliance customer in the UK that develops technologies for solid-state batteries.

ATA IMS is in the process of expanding in Johor, with an additional 378,000 sq. ft. of space, increasing total floor space there to two million sq. ft. The new factory will be fully operational by June, the firm says, and the company is looking for additional space in the area.

The company’s executive chairman Datuk Seri James Foo said he expects ATA IMS to merge with Microtronics Technology by the middle of 2021. Microtronics has 15 lines dedicated to its PCB assembly operation.

For the six months ended Sept 30, revenue grew 17.8% to over RM2 billion, and operating profit increased 24.3% to RM95.8 million. In the financial year ended Mar. 31, net profit dropped 30.6% year-over-year to RM78.3 million.

Ed.: RM1 = US$0.25

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