CAR parts maker Ingress Corp Bhd's existing business portfolio - with revenue contributions from Malaysia, Thailand and Indonesia - should shield the company against any possible surprises from Malaysia's new automotive policy to be announced soon. 

Ingress executive vice-chairman Rameli Musa said the company will not be affected by the soon-to-be announced car policy as it plans to focus more on Thailand and Indonesia.

He said the business in Thailand is growing, while the Indonesia operations should start to pick up in two years' time.

As at end-January 2005, about 55 per cent of the company's revenue from its automotive components manufacturing (ACM) business came from the local market, 43 per cent from Thailand and the rest from Indonesia.

A year ago, the company was more dependent on local sales, which contributed 63 per cent against 37 per cent from Thailand.

The company expects the domestic market to take up about 60 per cent ACM revenue next year, mainly due to the good response for Perodua MyVi and its higher value of parts in the model.

RAMELI : Ingress plans to focus more on Thailand and Indonesia

"Our value of parts in each MyVi is about RM1,000, as compared to our value of parts for Savvy which about RM60," said Rameli. 

Rameli said the company expects a balanced profit contribution between its overseas and local ACM business in 1-2 years' time, mainly due to its increasing focus on Thailand and Indonesia.  

The company has invested about RM23 million and RM8 million in Thailand and Indonesia respectively. Its latest and also third plant in Thailand caters only for the supply of parts to Honda.  

"By shifting the Honda supplies to this new plant, it has relieved the other plant of capacity constraint to meet the demand for its other impending projects like the Mitsubishi P-Car project," he said.  

Regarding its Indonesia ACM business, Rameli said Ingress expects to break even there by end January 2006. For the moment it is supplying sash and mouldings to Suzuki and Mitsubishi. 

For the three months ended April 30 2005, Ingress posted a 101.07 per cent increase in net profit to RM3.55 million from RM1.77 million during the same period last year. Its turnover increased 54.98 per cent to RM61.68 million from RM41.74 million during the same period last year.  

Besides being active in the ACM business, Ingress is also involved in the power engineering and rail electrification sector as well as oil and gas engineering and services sector.