KULAI: Beyonics International Pte Ltd, a precision-parts manufacturer based in Singapore, remains upbeat on economic growth in this region despite uncertainties and challenges in the global economic landscape.
Chief executive officer Scott Smith said the company did not experience any business slowdown and was confident of a double-digit growth in the coming years.
“Our decision to invest RM72.81mil for our integrated facilities in Iskandar Malaysia is a testimonial to our confidence level towards the region,’’ he said at a press conference.
Smith said the company has invested a total of RM59.94mil for the entire 421,014 sq ft integrated facility since 2015 at i-PARK@Indahpura about 32km from Johor Baru.
The facility comprises aluminium die casting, precision machining, plastic injection moulding, mould design and fabrication, printed circuit board assembly, engineering design services and complex box build.
He said the additional investment of RM12.87mil was for the 53,766 sq ft stamping plant within the integrated facility. This would be completed in the third or fourth-quarter of the year.
“The integration will further strengthen our position as one of the leading precision manufacturers in Asia to better serve our existing clients and attracting new ones along the way,’’ said Smith.
He said it would also bring added value proposition to clients by eliminating many of the cost associated with distribution and logistics by simplifying their supply chain and offering one stop solution for them.
Smith said, emulating its integration success at i-PARK, a similar vertical integration would be adopted in Changsu, China, which would create a mirror image of the company’s Malaysian operations.
He said moving forward, it would be establishing three vertically integrated mega facilities in Singapore, Malaysia and China alongside with four satellite facilities in Kota Tinggi, Johor, Wuxi and Dongguan in China and Thailand’s Chonburi.
He said the segments were automotive, medical, industrial and high-end consumer electronics.