Key Takeaways from $PIE / 7095 (P.I.E. INDUSTRIAL BERHAD) AGM

📌 As of the end of 2023, the management reported having six factories. The fifth and sixth factories have an area of 100K sqft and 280K sqft, respectively. The company expects the fifth factory to be completed by June this year, and the sixth factory by Q4 2024.
📌 Regarding whether the new factories can start operations immediately, the management stated that the fifth factory will go into operation right after completion. This means the third and fifth factories will handle orders from one major client. Currently, the third factory is operating at full capacity (which indicate two factories will manage orders from a single large client).
📌 The sixth factory has also secured new client orders and is expected to start operations by the end of this year.
📌 The management indicated that once these two new factories reach full capacity in 2025-2026, they will each generate RM1B and RM1.5B in revenue, respectively.
📌 The current outstanding order book is approximately RM500 million for FY2024, and the projected revenue growth for this year is around 7% or RM1.3B.
📌 The management emphasized their focus on completing and operationalizing these two new factories to boost the company's revenue sooner.
📌 Regarding the recent US-China tariffs, the management noted that they have not had a significant impact on the company.