KUALA LUMPUR (May 18): Plastic parts and components manufacturer SKP Resources Bhd has secured a new contract from its existing key customer, Dyson Ltd, for the manufacturing of the latter company’s new cordless vacuum cleaners.

In a filing with Bursa Malaysia today, SKP said the contract, which is scheduled to commence in October 2015, is expected to contribute positively to the group’s revenue and earnings for the financial years ending March 31, 2016 (FY16) and FY 17.

However, SKP did not disclose the value of the contract from Dyson.

Dyson Ltd is a British technology company that designs and manufactures vacuum cleaners, hand dryers, bladeless fans and heaters.

SKP is one of Dyson’s contract manufacturers in Malaysia and currently assembles a range of its products, including upright vacuum cleaners and bladeless fans.

“The contract marks another milestone for SKP, in which [we are] targeting to benefit from Dyson’s £1.5 billion (or RM8.46 billion)’s capital expenditure plan (as announced by Dyson Nov 21, 2014), where Dyson is developing four new ranges of technology and will launch 100 new products around the world over the next four years,” said SKP.

SKP (fundamental: 2.1; valuation: 1.1) shares was trading down 1.02% at 97.5 sen this morning, with a market capitalisation of RM1.05 billion.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)