Kelington Group Bhd has secured new contracts from projects in Malaysia and China totaling RM413 million since July 2024. The engineering solutions company said the projects reflect the group's strong presence in the market, bringing its total value of contracts secured year-to-date to RM977 million.
Kelington chief executive officer Raymond Gan said China continues to be a major growth driver, especially with the third phase launched by the China Integrated Circuit Industry Investment Fund, also known as the ‘Big Fund’.
"According to (company-neutral and country-neutral industry association) SEMI, China is set to lead the global market with 18 new semiconductor fabs in 2024, providing significant opportunities for Kelington to further expand our operations", he said in a statement.
Gan said the global semiconductor fabrication capacity is expected to expand significantly, driven by the rising demand for artificial intelligence (AI) processing and cloud computing. "This is fuelling the race to develop high-performance chips, which presents even greater opportunities for Kelington to participate in cutting-edge projects", he added.
He revealed that the group is also exploring new opportunities in regions such as Germany and Hong Kong. "These expansions will open new revenue stream and diversify our global portfolio, positioning the group for broader international growth", he said, and expressed confidence in the industry outlook, noting that "the industry remains strong with a steady flow of orders.