Betamek to ride E&E boom while remaining competitive
26 Oct 2022
Betamek Bhd is banking on the future growth prospects of the electrical and electronics (E&E) sector as the group made its debut on the ACE Market of Bursa Malaysia on Wednesday (Oct 26).
Betamek managing director Mirzan Mahathir highlighted that there is a growing number of products that use electronics, with more companies designing and producing these products.
Mirzan, who is also the eldest son of Malaysia’s former prime minister Tun Dr Mahathir Mohamad, also observed that a lot of innovation has gone into the E&E sector over the years, with Malaysia having a long history of being in the sector itself.
“We are in a good position to attract some of that business including global ones. You’ve already seen that we are well-versed in producing electronic products and we can do that competitively for the world.
“We obviously need to make sure that we continue to be competitive in this sector and apart from the companies involved, the environment, policies, and government support are always required in order for this industry to thrive,” he told reporters at a press conference.
Betamek provides one-stop electronics manufacturing services solutions to automotive makers.
The group remains optimistic about growth in demand for its vehicle audiovisual products and vehicle accessories, as its major customer Perusahaan Otomobil Kedua Sdn Bhd (Perodua) continues to see rising demand for its vehicles.
Mirzan pointed out that Betamek is always on the lookout for opportunities in other sectors so that the group could grow higher than where it is today.
To that end, Betamek chief operating officer Megat Iskandar Hashim Ismail, who was also present at the press conference, said the group’s future plans would heavily depend on expanding its research and development (R&D) activities.
“The whole plan is to expand our R&D team so that we can diversify our product range so that we can actually produce more electronics per car from what we have right now.
“That is actually one of the ways we intend to grow our market share, not just in terms of the number of vehicles being sold, but also the number of electronic components that we supply,” he said.
Megat Iskandar added that Betamek has also invested in the last few years in upgrading its factory, in order to get ready to where the group can actually leverage and grow into the global market.
“At this point in time, if we look in the industry, it is not just about passenger car vehicles.
“We also have opportunities in the two-wheeler segment or motorcycles that are moving into electric and hybrid as well. And we have products in the pipeline which we hope to propose and introduce to our customers in that front as well,” he said.
Source: The Edge Markets