KUALA LUMPUR (Dec 19):  TT Vision Holdings Bhd said its wholly-owned subsidiary, TT Vision Technologies Sdn Bhd, has secured several purchase orders for its solar cell inspection equipment totaling RM7.51 million from an undisclosed buyer.

The Penang-based automated test equipment (ATE) maker did not disclose information about the buyer, citing non-disclosure agreements signed.

The group merely described the buyer in a bourse filing on Tuesday as one of the largest solar cell manufacturers globally.

The group added that the contract is expected to be fulfilled within the next three to four months.

TT Vision, which transferred to the ACE Market from the LEAP Market of Bursa Malaysia in January of this year, posted a net profit of RM1.17 million in the third quarter ended September 30, 2023 (3QFY2023). This marked a 35.6% decrease compared with the RM1.82 million recorded a year ago, mainly due to higher administrative expenses.

Quarterly revenue also saw a slight decrease of 3.9%, falling to RM10.43 million from RM10.85 million in the previous corresponding period, mainly attributed to lower sales of optoelectronic inspection equipment.

For the nine-month period (9MFY2023), the group's net profit slipped by 3.64% to RM7.17 million from RM6.76 million in 9MFY2022. However, revenue saw a modest increase of 1.9%, rising to RM38.95 million from RM38.21 million in the same period.

Shares in TT Vision settled 2.5 sen or 3.07% higher at 84 sen, giving the group a market capitalization of RM390.75 million.