KUALA LUMPUR (July 16): Newly-listed company Liftech Group Bhd (KL:LIFTECH) has secured a RM25 million contract from AME Elite Consortium Bhd (KL:AME) to provide a material handling system for an aerospace-related test cell facility in Sepang, Selangor.
In a statement on Thursday, the industrial lifting and handling equipment specialist said its wholly owned unit Liftech Engineering (KL) Sdn Bhd had accepted a letter of award from AME Construction Sdn Bhd — AME Elite’s subsidiary.
Under the 10-month contract, Liftech Engineering will be responsible for the design, supply, fabrication, installation, testing and commissioning of the material handling system for the main building works of the facility (Phase 1).
The scope includes the supply and installation of bridge cranes, runway rail tracks, dual hoist carriers, auto-grab systems, trolley hoists, monorail components, bus bars and related electrical systems, said Liftech. The contract started on May 29 and Phase 1 is scheduled for completion by Jan 18, 2027, followed by Phase 2 on March 15, 2027.
"Securing this contract marks another significant milestone for Liftech as we continue to expand our presence in the aerospace sector. Aerospace facilities demand highly engineered material handling systems that meet stringent operational, precision and safety requirements, and this award reflects the confidence placed in our engineering capabilities and proven track record," said Liftech managing director Bernard Ng.
"Malaysia continues to attract quality investments in sectors such as aerospace, semiconductors and data centres, creating opportunities for specialised industrial infrastructure providers like Liftech. We remain committed to leveraging our engineering capabilities and proven execution track record to capitalise on these long-term growth opportunities," he added.
Liftech, which made its ACE Market debut on June 30, closed at 24 sen on Thursday — down five sen from its its initial public offering (IPO) price of 29 sen — for a market capitalisation of RM75.6 million.
The company raised RM23 million from its IPO. The bulk of the proceeds has been earmarked to repay bank borrowings incurred to acquire operational facilities in Penang, and Sabah. The rest will be used to buy equipment and upgrade its facilities, as well as to cover working capital and listing expenses.