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JCY INTERNATIONAL BERHAD
The Board of Directors of JCY International Berhad wishes to inform the shareholders and potential investors that, having assessed the curently available information, the Group is likely to record an increase in net profit for the financial quarter ended 31 December 2011 of approximately 1,900% compared with the corresponding period in the previous financial year (period ended 31 December 2010, Net profit: RM7.5million) or 460% compared with the immediate preceding quarter (period ended 30 September 2011, Net profit: RM26.4million) due to the following reasons:-
1. Increase in Average Selling Prices caused by component shortages arising from the October 2011 floods in Thailand;
2. Effective product mix;
3. Appreciating US Dollar against RM; and
4. Continuous efficient cost management.
To cater for the increase in the component demands from the Company’s major customers, the Board of Directors has approved a capital expenditure budget of approximately RM300 million over the next 24 months period, for expansion of its facilities in Malaysia, Thailand and China.
Barring any unforeseen factors, the Company expects to be able to increase its global market share of the HDD mechanical component industry over the next 24 months.
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