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亚马逊云账号(www.2km.me)_Scope Industries busy meeting higher orders

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亚马逊云账号

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LOW-PROFILE Scope Industries Bhd has quietly made a turnaround, and without much fanfare, its revenue skyrocketed to an all-time-high in the financial year ended June 30, 2021 (FY21).

It is also busy expanding its production capacity and workforce to meet its increased orders.

It is, hence, unsurprising, that the share price of this printed circuit board (PCB) manufacturer has jumped by about 66% in a span of slightly over three months from June.

While Scope’s key business divisions, namely, manufacturing, plantation and trading, saw a strong performance in FY21, it is the manufacturing division that shined the most.

Driven by stronger sales, the manufacturing division posted a three-fold increase in revenue to RM41.62mil in FY21, up from RM13.25mil a year earlier.

If one digs deeper, a key catalyst for Scope’s growth is the close working relationship with its substantial shareholder, Inventec Appliances Corp.

Recently, the relationship grew stronger after a vice-president of Inventec Appliances, Hsu Ching-Chen, was appointed as a member of Scope’s board of director on Aug 25.

Taiwan-based Inventec Appliances owns about 7.32% in Scope, after emerging as a shareholder back in 2019.

It is worth noting that Inventec Appliances is the wholly-owned subsidiary of Inventec Corp, which is listed in Taiwan with a market capitalisation of about 94.9 billion Taiwan dollars (RM14.2bil).

Inventec Appliances, which designs and manufactures smartphones and related devices, has a factory in Bayan Lepas, Pulau Pinang.

In a reply to StarBizWeek, Scope chief operations officer Elsie Ong says that the group has been working together with Inventec Appliances very closely for a couple of years.

“Scope’s expansion plan has taken into consideration Inventec’s requirements and new business opportunities, which Scope is working on now,” she says.

While Ong did not elaborate more, it is believed that Scope’s orders have been increasing as a result of the relationship between Inventec Appliances and Nasdaq-listed smart speaker manufacturer Sonos Inc.

As the largest manufacturer for Sonos’ products, Inventec Appliances should benefit from Sonos’ efforts to diversify its supply chain into Malaysia.

Sonos has historically manufactured its products in China, but following the US-China trade war, it has added its contract manufacturing in Malaysia. In its latest quarterly filing, Sonos said its transition into Malaysia would be completed in 2022.

Quoting Sonos chief financial officer Brittany Bagley, the Wall Street Journal reported in May that the company plans to source all of its US-bound products from Malaysia “by the fall”. The US is the company’s core market, generating more than half of its revenue.

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