INGRESS Corp Bhd is confident of continuing to chalk up double-digit growth in turnover with brisk business anticipated from its operations in Thailand for the financial year ending Jan 31, 2005. 

Executive vice-chairman Rameli Musa said the company had successfully recorded double-digit increases in turnover for the last two years. 

“We have achieved about 50% growth in revenue for the last two years, and we expect to achieve the same (growth) next year, although the amount would be slightly lower,” he said. 

Ingress' automotive operations in Thailand currently supply components to auto makers Honda, Isuzu, Mitsubishi, Ford and Mazda.  

From left: Ingress chairman Datuk Nasir Yusoff, Rameli Musa and exective director Ungku Farid Ungku Abdul Rahman answering questions from the press after the listing transfer ceremony.

As for the company's domestic operations, profits would very much depend on sales of the three new models from Perusahaan Otomobil Nasional Bhd (Proton), expected to be launched this year, Rameli said. 

He was speaking in Kuala Lumpur yesterday after Ingress' listing transfer from the MSEB second board to main board.  

At the opening bell, Ingress shares recorded a two-sen premium at RM2.39 - the day's high - against the reference price of RM2.37. 

The counter hit a low of RM2.36 in intra-day trading before closing at RM2.38 on volume of 86.6 million shares.  

Since its establishment in 1991, Ingress has been producing mainly mouldings and door sash for national car makers Proton and Perusahaan Otomobil Kedua Sdn Bhd. 

Meanwhile, in Indonesia, Ingress had already secured contracts from Suzuki and Mitsubishi, Rameli said. 

The contracts are for the supply of mouldings and sash with expected combined revenue of RM15mil beginning from the financial year ending Jan 31, 2006. – Bernama