Aimflex looks to technology in business transformation

Firm taking opportunity to evolve to better communicate and emphasise its expertise, proposition and vision


AIMFLEX Bhd (formerly known as i-Stone Group Bhd) plans to turn a new page by reaching out to digitalisation, artificial intelligence (AI) and big data via Industry 4.0 (IR4.0).

Chairman Datuk Awang Daud Awang Putera (picture) said the company is taking this opportunity to evolve to better communicate and emphasise its expertise, proposition and vision.

“Leveraging on technologies of IR4.0, we are actively reaching out to our customers to transform their business system using digitalisation, AI and big data.

“It will be a new avenue that enables our customers in digitalising and improving their production process, not only among the large companies but also mid-sized ones,” he said during the rebranding launch yesterday.

According to Fortune Business Insights, the industrial automation market worldwide reached US$157.04 billion (RM643.86 billion) in 2018 and is expected to reach US$296.7 billion in 2026.

Aimflex targets to maximise the business potential not just locally, but also eyeing international growth as industrial automation is growing rapidly.

He added that the company is constantly working on broadening its customer base by diversifying its automation exposure to new industries such as semiconductor, energy, agriculture, automotive, medical, telecommunications, oil and gas, and so on.

“Taking this opportunity, I am pleased to announce we will adopt a dividend payout ratio of at least 30% of the profit after tax attributable to the owners of Aimflex for each financial year, excluding any unrealised income from adjustments due to accounting policies that are non-cash in nature,” he said.

The name change, Awang Daud said, reflects the company’s position as a bigger and better entity.

“Our company consists of committed and competent engineers, each with their own specialities and growing client portfolio, which we are certainly proud to serve.

The company’s new name, Aimflex, represents Autonomous, Intelligent, Machine and Flexible.

The company’s deputy MD Emma Yazmeen Yip said for the upcoming financial year, the group has allocated RM39 million in capital expenditure.

“RM13 million from the allocation is to fully settle borrowings, and product and development cost of RM4.2 million. RM6.8 million is for the construction of a design and development centre, while RM5.2 million is for expansion of existing business lines,” she said.

I-Stone sought an ACE Market listing in July 2019 at 16 sen per share, raising some RM39.09 million from the IPO with a main bulk of the funds used to repay its borrowings.

The company closed yesterday at 25.5 sen per share, up one sen for the day.