EngTek...Aug 09

Its hard disk drive (HDD) manufacturing business in Ayutthaya, Thailand, has seen steady growth in revenue.

The Thai venture, which began operation in 1999, registered a revenue of 657 million (100 baht = RM9.55) in 2005, 1.2 billion baht in 2006, 1.5 billion baht in 2007 and 1.63 billion baht in 2008.

Revenue increased after Engtek, a Penang-based world-class manufacturer of precision engineering components, acquired Singapore''s Altum Precision in 2003.

Engtek's revenue for the first quarter ended March 31, 2009 fell to RM100.8 million from RM159.1 million in the corresponding period in 2008.

It made a pre-tax loss of RM300,000 compared to a net profit RM17.8 million previously.

The company's Thai operations focused on HDD for laptops, low-end desktop and mobile devices while its Chinese plant, which was set up in Dongguan in 1996, concentrated on high-end storage and desk top computers.

EngTek has no plan to expand its operations to new countries.

So far, the company has invested between RM30 million to RM40 million for its venture in Thailand, seen as a strategic location due to its proximity to major clients like Western Digital and Seagate