KUALA LUMPUR (Sept 24): Integrated engineering solutions provider Oxford Innotech Bhd (KL:OXB) said on Wednesday it is on track to boost production capacity with trial runs underway at its new Penang Science Park (PSP) Factory 2 (Phase 1).

Managing director Ng Thean Gin said the group expects to commence mass production at the new facility in the coming months, which will expand its total manufacturing footprint to 125,174 sq ft, from 39,392 sq ft currently.

The facility, operational starting May 2025, is where the company currently tests advanced equipment including a coil form laser cutting machine.

"The additional capacity positions us to capture rising demand across the semiconductor, electrical and electronics (E&E), and modular building systems sectors,” Ng said in a statement.

Oxford Innotech also plans to expand further under Phase 2 of the PSP project, which will add another 67,722 sq ft by 2027, bringing its total production area to 192,896 sq ft.

Headquartered in Penang, Oxford Innotech provides precision engineering solutions and manufactures components for the semiconductor, E&E, automotive, and modular building systems industries.

The company debuted on Bursa Malaysia’s ACE Market on July 29 at an initial public offering (IPO) price of 29 sen per share, raising RM41.6 million to fund its manufacturing expansion.

At the midday market break on Wednesday, Oxford Innotech rose 1.5 sen or 4.2% to 37.5 sen, valuing the group at RM266.3 million. The counter has climbed 29% from its IPO price.

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