$CORAZA / 0240 (CORAZA INTEGRATED TECHNOLOGY BERHAD) AGM 2024
馃搶 Despite a significant drop in revenue last year, the company is continuing to expand. Plant 5 is anticipated to commence operations in Q4FY24, while Plant 3 is currently under construction. The overall utilization rate of the production facilities is low as the company is gearing up for the next expansion cycle, planning to ramp up capacity quickly to secure more and faster orders.
馃搶 The company believes that the worst is behind them. The overall upstream expansion and recovery are occurring rapidly, particularly with the support of artificial intelligence. However, the recovery in Malaysia is slower due to its more traditional semiconductor industry. The company believes recovery will be gradual, with 2025 expected to be the peak period for semiconductor recovery and growth.
馃搶 The company is now entering Phase 4, which includes constructing new production facilities with a clean room, attracting new customers, pursuing new acquisitions, expanding regionally, and preparing for the next upward phase of the semiconductor cycle.
馃搶 The company has seen a significant number of inquiries and orders from customers J and P, which are gradually resuming. More orders are anticipated in the second half of the year and into next year.
馃搶 The company is concentrating on offering end-to-end services. Previously, surfacing processes were outsourced, but now the company is prepared to manage this in-house, with a focus on weldment and frame.
馃搶 The semiconductor sector contributes approximately 60-70% of the company's revenue, with a larger portion coming from the back-end rather than the front-end. The company plans to secure more front-end semiconductor business in the future, not for higher profit margins, but because of the significant and promising expansion and development opportunities.
馃搶 Within the aviation sector, the company requires additional time to secure the requisite certifications, a common requirement within this industry.