KUALA LUMPUR (Jan 13): MCE Holdings Bhd’s unit has secured a contract to supply various electronic and mechatronics parts of a new car model under Perusahaan Otomobil Kedua Sdn Bhd (Perodua), which is expected to generate a total revenue of about RM60.69 million.

The supply of these parts is expected to commence in the third quarter of the financial year ending July 31, 2024 (3QFY2024) for a duration of six years, said the group in a Bursa Malaysia filing on Friday (Jan 13).

The job will involve an estimated investment cost of about RM5.45 million over the six-year period, the automotive electronic parts producer said.

As at 1QFY2023, the group’s cash and bank balances stood at RM7.3 million, up from RM4.0 million as at 4QFY2022.

For 1QFY2023, MCE posted a net profit of RM3.5 million versus a net loss of RM1.7 million a year ago, as revenue more than doubled to RM38.56 million from RM16.81 million.

Shares of MCE, which jumped 32% in December alone, closed unchanged at RM1.41 on Friday, giving it a market capitalisation of RM79.19 million.