V.S. Industry allocates RM150 mln capex for expansion

V.S. Industry allocates RM150 mln capex for expansion

07 Jan 2022

V.S. Industry Bhd (VS) is putting aside approximately RM150 million in capital expenditure (capex) to expand and enhance its capacity and capabilities.

Managing director Datuk SY Gan said the group had spent RM30.0 million to acquire three parcels of adjacent land measuring 3.6 hectares in Senai, Johor for future expansion in November 2021.

“Our focal point remains on providing top quality delivery on a timely basis to our customers while maintaining an excellent standard in our execution,” he said in a statement today.

 Simultaneously, the group will also be investing efforts and resources to strengthen environmental, social and governance (ESG) initiatives.

“All in all, we are cautiously optimistic on our prospects premised on the abovementioned factors, while mindful of the challenges,” he said.

In financial year 2021 (FY2021), the group has resumed its quarterly dividend payout practice, with a dividend payout totalling RM113.8 million, based on its net profit of RM245.4 million.

As of 1.35 pm, VS’ share price stood at RM1.34 with 2.25 million units transacted.

Source: Bernama