KUALA LUMPUR (Aug 11): Copper products manufacturer Ta Win Holdings Bhd has bagged a contract for the supply of cables and automotive components for local automobile models in Malaysia.
In a statement today, Ta Win said its subsidiary Cyprium Wire Technology Sdn Bhd (CWT) has accepted a contract from NYSE-listed technology and mobility company, Aptiv PLC.
It said the contract will see CWT supplying Aptiv 13 types of components comprising power and signal distribution system, high tension cable, battery cable, and other automotive components and parts for local automobile models in Malaysia.
The contract is effective from July 1, 2021 for a six-month period with an estimated total contract quantity of up to 10,000km per month.
Ta Win said CWT attained its International Automotive Task Force (IATF) 16949:2016 certification in January 2021.
Ta Win managing director Datuk Seri Ngu Tieng Ung said with the new contract, the firm is entering a new area of growth particularly for market relevant products to cater to the growing automobile and electronic vehicle industries.
“We are optimistic that CWT will continue to secure additional contracts from Aptiv for products designed to cater to different automobiles and electric vehicles.
“To this end, we are confident that this opportunity will improve Ta Win’s financial performance and contribute positively to the group’s earnings,” said Ngu.
At midday break today, Ta Win rose 8.82% or 1.5 sen to 18.5 sen, valuing it at RM631.27 million.