JHM Consolidation Bhd’s 52%-owned subsidiary, JHM Dekai Auto Lighting Sdn Bhd, secured contracts worth RM300 million from Proton to supply automotive parts for specific car models.
Production is set to begin in the late third quarter of the financial year ending Dec 31, 2025, and will span five years, contributing to JHM’s earnings over the contract duration.
The company said that none of its directors, major shareholders or persons connected with them have any direct or indirect interest in the contracts.
Despite this milestone, JHM reported a net loss of RM25.65 million for the first nine months of 2024, citing underutilised capacity, fixed cost absorption issues and foreign exchange losses of RM5.3 million, marking a reversal from an RM13.85 million profit in the same period the prior year. — TMR