Tag: Artroniq Bhd

Artroniq Berhad (Artroniq or the Group), a key contender on the ACE Market, with its’ game-changing move for the Malaysian electric vehicle industry, is proud to unveils the Group’s financial achievements for the first quarter ended 30 September 2023 (Q1 FY2024). The Group has demonstrated exceptional growth and strategic resilience, marking a promising start to the year with a substantial increase in revenue.

In Q1 FY2024, Artroniq Berhad achieved an extraordinary revenue of RM16.0 million, marking a stellar increase of about 225-fold as compared to Q6 FY2023. This surge in revenue is mainly attributed to the resolution of previous product returns in the ICT products and related services segment, signifying a robust recovery and commitment to quality and customer service.

Despite the challenging economic climate, Artroniq Berhad has significantly reduced its loss before tax to a less than RM0.1 million in Q1 FY2024 from RM16.0 million in Q6 FY2023. This improvement is a result of strategic initiatives and effective management decisions, including addressing goodwill impairment in the ICT segment.

The management of Artroniq, commented, “We are thrilled with our Q1 performance, which not only showcases our resilience but also our strategic prowess in navigating industry challenges. Artroniq Berhad is actively capitalising on the growth of the semiconductor industry and the emerging electric vehicle market. Our ventures, especially in electric bicycles, are aligned with Malaysia’s Madani Economy objectives and contribute to the national goal of carbon neutrality by 2050. We are committed to innovation, sustainability, and delivering value to our stakeholders.”

They added: “The global semiconductor industry continues to grow despite challenges in securing resources and talent. Malaysia’s strategic initiatives, particularly in Penang, are creating a conducive environment for semiconductor advancements. The government’s focus, as highlighted by the Malaysian Automotive, Robotics and IoT Institute (MARii), on initiatives like the Electric Motorcycle Usage Incentive Scheme is expected to bolster the EV market, including electric motorcycles (e-bikes).”

In conclusion, Artroniq Berhad remains focused on its growth trajectory, leveraging its strengths in the semiconductor and electric vehicle sectors. The Group is committed to navigating the dynamic market conditions with prudence and strategic foresight, ensuring sustained success in 2024 and beyond.

As at 23 November 2023, the share price of Artroniq is RM0.845, representing a market capitalisation of RM344.6 million.

• Artroniq Paves the Way For Electric Mobility in Malaysia as the Group Launches United E-Motor, With a Keen Eye on Sustainable Growth, and Enhancing Investors’ Value

Artroniq Berhad (Artroniq), a key contender on the ACE Market, with its’ game-changing move for the Malaysian electric vehicle industry, has introduced the highly anticipated United E-Motor to the Malaysian market. This collaboration with the flagship electric motorcycle brand of Indonesian manufacturer PT. Terang Dunia Internusa (PT TDI) signifies Artroniq’s forward-thinking vision and commitment to sustainable innovations, offering promising investment opportunities.

The launch event, set for 2:00 pm on 30th October 2023 at Pavilion Bukit Jalil’s Piazza, will be more than just a product introduction. Alongside electric motorcycle stunt performances, attendees will experience firsthand the prowess of the TX3000 and TX1800 models. The TX3000 boasts a top speed of 90 km/h and a range of 120 km on a single charge, while the TX1800 charges from 0-80% within just 1.5 hours. Both models epitomize modern convenience with features such as built-in Bluetooth, a dedicated mobile app, and more.

The collaboration between seasoned Indonesian brand United E-Motor and Artroniq Bhd is a testament to Artroniq’s strategic foresight. This partnership, formalized in September 2023, allows Artroniq to not only bring electric mobility to the Malaysian masses but also to integrate United E-Motor’s advanced proprietary technology and assembly processes, further strengthening Artroniq’s position in the market.

Moreover, with Malaysia being the maiden country to welcome this iconic Indonesian brand, Artroniq is slated to open experiential concept stores in three prime locations, amplifying its footprint and accessibility.

Mr. Marcus Chin Choon Wei, CFO of Artroniq, commented, “Today marks a significant stride in Artroniq’s journey towards fostering sustainable electric mobility in the Malaysian market. We’re exceptionally glad to collaborate with PT. Terang Dunia Internusa, a pioneer in this domain. This collaboration not only solidifies our position in the market but also stands as a testament to our commitment towards offering groundbreaking solutions for our stakeholders. I’m confident that our partnership with United E-Motor will unlock unparalleled value for our investors and contribute to a greener future.”

It’s noteworthy that these state-of-the-art electric motorcycles were the chosen mode of transport for world leaders at the 2022 G20 summit. With Artroniq at the helm of this introduction, Malaysian investors and consumers can anticipate a transformative impact on the country’s transportation landscape.

Given the synergy between United E-Motor’s legacy and Artroniq’s robust capabilities, the partnership is poised for exponential growth. Ventures into the manufacturing of electric motorcycle batteries, chargers, and the groundbreaking concept of battery swapping stations highlight Artroniq’s ambition and potential for expansive growth.

As at 27 October 2023, the share price of Artroniq is RM0.85, representing a market capitalisation of RM342.0 million.

Artroniq Bhd: 0038 [BURSA: ARTRONIQ] [RIC: ARTR.KL] [BBG: ARTRONIQ:MK], https://www.artroniq.com/

• Strategic Partnership to Boost Artroniq’s Foothold in the ASEAN Electric Motor Sector

Artroniq Berhad, a key contender on the ACE Market, is thrilled to announce that its wholly-owned subsidiary, Artronic Itech Sdn. Bhd. (AiTech or Distributor), has entered into a transformative Distribution Agreement with PT. Terang Dunia Internusa, the parent company of Indonesia’s renowned United Motors. This landmark deal aims to propel Artroniq and PT. Terang to the forefront of the burgeoning electric vehicle (EV) market while enhancing their reach across the ASEAN economic community.

United Motors, a subsidiary of PT. Terang Dunia Internusa, has been an industrial stalwart in Indonesia since its inception in 1971. Transitioning from a spare parts importer to an electric mobility pioneer, the company has launched a diverse line of electric motor products under the United E-Motor brand. Their commitment to electric mobility was further solidified with the opening of a dedicated electric vehicle and bike factory in Curug, Tangerang.

Under this Distribution Agreement, Artronic Itech Sdn Bhd, a wholly-owned subsidiary of Artroniq, is appointed by PT. Terang Dunia Internusa as the exclusive distributor for electric motor products in Malaysia. Products will be purchased in a Completely Knocked Down (CKD) state and assembled at Artronic Itech’s factory in Malaysia.

The signing of the Distribution Agreement was witnessed by Dr. Ir. Budi Karya Sumadi, the Indonesian Minister of Transportation; Dr. Jerry Sambuaga, the Deputy Minister of Trade of Indonesia; Drs Hendro Sugiatno, Director General of Land Transportation of Indonesia; and Mr. Budiharjo Iduansjah, General Chairman of HIPPINDO (Himpunan Peritel & Penyewa Perbelanjaan Indonesia/Association of Indonesian Shopping Centres, Retailers and Tenants).

Marcus Chin Choon Wei, Chief Financial Officer of Artroniq (Link) Mr. Marcus Chin Choon Wei, CFO of Artroniq, commented, “This Distribution Agreement marks a momentous leap forward for Artroniq, a pivotal step in our relentless pursuit of excellence in sustainable transportation and technological innovation. We are committed to not only meeting but exceeding the evolving needs of our customers and partners. This agreement perfectly aligns with our core values of sustainability, quality, and progress. It fortifies our position as a key player in the ASEAN region’s electric mobility sector and underscores our unwavering dedication to reducing environmental impact while driving progress.”

Hendry Mulyadi, Director of PT. Terang Dunia Internusa (United Motors) added, “Artroniq’s unwavering dedication to innovation and sustainability seamlessly complements our strategic vision at PT. Terang Dunia Internusa. We are embarking on a journey that goes beyond mere collaboration; it is a synergistic partnership aimed at shaping the future of sustainable transportation across ASEAN. Together, we will harness the power of technology, innovation, and shared values to drive positive change. This agreement is not just a milestone; it is a testament to our collective commitment to creating a greener, more connected, and sustainable future for the ASEAN region and beyond.”

As at 11 September 2023, the share price of Artroniq is RM0.82, representing a market capitalisation of RM323 million.

Artroniq Bhd: 0038 [BURSA: ARTRONIQ] [RIC: ARTR.KL] [BBG: ARTRONIQ:MK], https://www.artroniq.com/

• The procurement of a new, high-value project marks a significant milestone in Artroniq Berhad’s diversification strategy and growth trajectory.

Artroniq Berhad, a key contender on the ACE Market, is thrilled to announce the awarding of a substantial new project in the realm of E-Commerce and Retail Software Development. With a project price of RM9,596,000.00, this latest venture is slated to begin in October 2023 and will run over a span of 12 months.

In collaboration with Kiddie Shoppe, Artroniq’s subsidiary, EA Global Integrated Sdn Bhd (“EAG”), will provide customised services designed to propel Kiddie Shoppe’s retail capabilities to new heights. As part of the services, EAG will offer rigorous training to Kiddie Shoppe’s team, ensuring that they are adept at maximising the functionalities and features of the new software. Additionally, EAG will be responsible for ongoing maintenance and support services, all in accordance with the comprehensive Service Agreement.

Marcus Chin Choon Wei, Chief Financial Officer of Artroniq (Link) Mr. Marcus Chin Choon Wei, CFO of Artroniq, expressed his enthusiasm, saying, “This new venture is an epitome of Artroniq’s agility and adaptability in the ever-evolving technological landscape. The project not only diversifies our portfolio but also aligns perfectly with our long-term growth strategy.”

He further elaborated on the company’s strategic direction: “Securing this project augments our existing ventures and opens doors to new market opportunities. This is yet another steppingstone in the actualisation of our corporate vision. With a fortified balance sheet and a growing portfolio, Artroniq is well-positioned to scale new heights in the foreseeable future.”

The Project’s scope of work is detailed and thorough, necessitating close collaboration between EAG and Kiddie Shoppe. Any amendments to the customised services will require formal agreement, ensuring both parties are committed to achieving the highest standards.

In recent months, Artroniq has been instrumental in driving transformative changes across various sectors, including electric vehicles and now, E-Commerce. The new project provides another testament to Artroniq’s unwavering commitment to innovation and growth.

This high-value procurement adds a new layer to Artroniq’s business model, reinforcing its reputation as a versatile player in the competitive marketplace.

Artroniq Bhd: 0038 [BURSA: ARTRONIQ] [RIC: ARTR.KL] [BBG: ARTRONIQ:MK], https://www.artroniq.com/