INGRS Acquires OEM Projects Overseas, Expecting to Book over ฿4Bn of Revenue

Ingress Industrial (Thailand) Public Company Limited (INGRS) has announced that its subsidiary companies in Malaysia and Indonesia have received Letters of Intent (LOI) to manufacture and supply automotive components for the Original Equipment Manufacturers (OEM) in Malaysia and Indonesia with a potential revenue from all projects worth 4,005 million baht.

 

1) Ingress Technologies Sdn Bhd (ITSB), INGRS’ subsidiary in Malaysia, received a 5-year project from Assembly Services Sdn Bhd to produce a rear floor module with a project investment of 6.7 million baht, starting Q4 FY2021/22. INGRS expected a potential revenue of 59.9 million baht.

2) PT Ingress Malindo Ventures (PT IMV), INGRS’ subsidiary in Indonesia, received a 6-year project from Hyundai Motors Manufacturing Indonesia to produce inner sash, roof moulding & frame with a project investment of 227.6 million baht, starting Q1 FY2022/23. INGRS expected a potential revenue of 649.5 million baht.

3) PT Ingress Industrial Indonesia (PT III), INGRS’ subsidiary in Indonesia, received a 6-year project from Hyundai Motors Manufacturing Indonesia to produce rear floor & quarter inner modules with a project investment of 704.8 million baht, starting Q1 FY2022/23. INGRS expected a potential revenue of 3,296.2 million baht.