Ingress expects RM196m revenue over 5yrs from Perodua contract

KUALA LUMPUR: INGRESS CORPORATION BHD []'s 70% subsidiary Ingress Technologies Sdn Bhd (ITSB) has won a contract from Perodua Manufacturing Sdn Bhd (PMSB) that it expects could generate total revenue of about RM196 million over a five-year period.

In a statement today, Ingress said ITSB had received a letter of instruction from PMSB in respect of the supply of stamping and body assembly parts for a new Perodua model.

It said project entailed the supply of components comprising rear modules, door surrounding modules and fuel lids to PMSB for the new model starting in the first half of the financial year ending Jan 31, 2012, for five years.

Ingress said while the total revenue expected was about RM196 million for the five-year period, investment in equipment and toolings was estimated to total RM17.7 million.