KUALA LUMPUR (Sept 29): Genetec Technology Bhd (Genetec) — a manufacturer of automated industrial equipment, systems and production tools — announced that it has secured new orders worth RM41.9 million.

“The tenure of the contracts normally range between three to nine months, depending on the size of order and scope of work. The contracts are on project basis and we do not foresee any risk pertaining to new secured orders,” said the company.

Based on a filing with Bursa Malaysia, Genetec said the new orders were from existing clients in various industries such as electronics, semiconductor and hard disk drive, as well as automotive.

Genetec said the new orders were expected to contribute positively to the company’s earnings for the financial year ending March 31, 2015, but will not have any material effect on the net assets per share of the company for the same period.

Genetec’s first quarter net profit ended June 30 fell sharply to RM422,000, from RM2.65 million previously. Revenue also fell to RM30.66 million, from RM39.77 million.

The counter closed 0.5 sen lower to 14 sen, with a market capitalisation of RM51 million.