Notion VTec, a manufacturer and seller of high precision components for consumer electronics, digital imaging, and automotive industries, announced RM5.7 million of new investment in its aluminium extrusion technology. The company has received the grant assistance from the government.

Image source: Notion VTec

The investment will allow the company to save on the raw material costs and quality control for its production line products. “We are getting the facility ready and should be able to get returns on this of about 20% in five years,” Notion VTec executive chairman Thoo Chow Fah said.

Thoo Chow Fah told The Edge Financial Daily that he expects to see the automotive segment to grow by 30% to 40% in 2018. The company hopes to grow its revenue by 20 per cent in 2018 and 2019.

Notion VTec has posted a net loss for its first financial quarter ended Dec 31, 2017 (1QFY18). The company said decline in revenue was mainly due to reduction in sale orders following the fire in October 2017.

Thoo Chow Fah said: “We have torn down the building, and are currently in the phase of rebuilding a new factory, which should take us to another nine months or so. In the meantime, we have rented four factories nearby as well as utilising all the space we have in our other factories in Johor and Thailand to reach our production level.”