15 minutes
PETALING JAYA: Kelington Group Bhd has clinched several new contracts amounting to RM118 million in the fourth quarter of 2020 (Q4’20), lifting its total new orders in FY20 to RM490 million – a new all-time high, surpassing the previous year’s record of RM386 million.
A majority of the new orders secured were from the ultra-high purity (UHP) segment, accounting about 60% of the total, from across China, Malaysia and Singapore. More than one-third of new orders secured was awarded by the largest semiconductor foundry company in China.
Kelington CEO Raymond Gan said it remained resilient during the unprecedented year supported by a strong pipeline of project orders. The recovery of the semiconductor industry has been encouraging, and it is seeing resumption of project orders from Malaysia and Singapore for its UHP and process engineering division.
“Despite the fluid economic landscape, our project flow from China was doing relatively well, and contributed 35% of total new orders secured in Q4’20, as our major semiconductor client continues to expand its operations.
“We are positive that the upward momentum will continue in 2021 as semiconductor and electrical and electronic industry players are gradually ramping up their operations to get back on track for expansion.”
Meanwhile, its industrial gases operations have normalised with production volume resumed to the previous level. However, following the recent announcement on the second movement control order, it is cautiously optimistic on the pace of sales orders.
“We do not foresee similar decline in demand for our liquid carbon dioxide such like the first MCO as most of our major end-users such as industry players from construction, manufacturing are permitted to operate this time around,” said Gan.
