Aimflex commits to dividend policy of at least 30% of profit

Aimflex commits to dividend policy of at least 30% of profit
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KUALA LUMPUR (March 11): Aimflex Bhd, previously known as i-Stone Group Bhd, has committed to adopting a dividend policy of at least 30% of profit for each financial year, according to its executive chairman Datuk Dr Awang Daud Awang Putera. 

Speaking at the rebranding launch event in Kuala Lumpur today, Awang said the dividend payout ratio of at least 30% of the profit after tax excludes any unrealised income from adjustments due to accounting policies that are non-cash in nature.

The group has announced an interim dividend of 0.25 sen per share to its shareholders for its financial year ended Dec 31, 2020 (FY20).

To recap, Aimflex made its debut on Bursa Malaysia in July 2019 and it has been a strategic partner for various local and multinational companies, supplying turnkey test and measurement systems for their manufacturing divisions.

Commenting on the rebranding of the company, Awang said it is taking this opportunity to evolve Aimflex to better communicate its expertise, proposition, and vision. 

“Today, we are bigger and better. Our company consists of committed and competent engineers, each with their own specialities and growing client portfolio which we are certainly proud to serve.

“Aimflex represents Autonomous, Intelligent, Machine and Flexible which stay true to our core values of being innovative, keeping updated with new technology, [and] continuously seeking improvement to create success,” he said.

Meanwhile, despite the rebranding, the group stressed that there is no change of business direction and it will continue focusing on the company’s core business in automation and working on diversifying the business exposure in the customer portfolio as well as the industry.

The group also has established a new business development division that aims to explore more automation business opportunities across various industries of oil and gas (O&G), telecommunications, agriculture, automotive and so on. 

“We will never stop improving by equipping ourselves with the latest technology. Leveraging the technologies of Industry 4.0, we actively reach out to our customers to transform their business system using digitalization, Artificial Intelligence (AI), and big data.

“It will be a new avenue that enables our customers in digitalizing and improving their production process, not only among the large companies but also mid-sized ones,” Awang added. 

According to the group’s website, Aimflex is principally involved in the manufacturing automation business segment, with a focus on specialised automation machines. It also provides the designing and fabrication of metal frames, panels and precision parts, and distribution of manufacturing automation hardware and software.

Shares of Aimflex ended one sen or 4.08% higher to 25.5 sen, valuing the company at RM311 million.

Joyce Goh