17 June 2019, Monday | 06:13pm

Seacera inks MOU with Korean firm for LED biz in Malaysia

2019-05-13

 

KUALA LUMPUR: PN17 company Seacera Group Bhd today signed a memorandum of understanding (MOU) with Korea’s KR EMS Co Ltd (KR Global) for manufacturing, production and sales of Light Emitting Diode (LED) products in Malaysia.

KR Global is an electronic manufacturing system (EMS) specialist company that develops smart information and communication technologies (ICT) convergence LED Lighting Technology to prepare for the fourth industrialisation era. In 2017, KR Global registered a revenue of 170 billion Korean won.

KR Global has business presence in South Korea, China, USA, Vietnam, Pakistan, Czech Republic. Some of their key clients are LG Electronics, Seoul Semicon, Lusen, Hee Sung.

Under the MOU, Seacera will be responsible to establish a factory for production of LED lighting products in Malaysia, with technology provided by KR Global and under the supervision of KR Global. Seacera will also be handling the sales of such products.

Seacera group managing director Zulkarnin Ariffin said the upcoming trend in the LED products is inevitable. More and more people are switching to LEDs in order to open up creative possibilities and save energy. LED systems are designed to be smart and efficient, and this suits well with the smart home technology that everyone is embracing.

“All segments, government, enterprises and consumer will be faced with a choice of technologies in transitioning to more energy efficient lighting solutions. LEDs are mathematically or scientifically proven to be more cost efficient over the total term of ownership. The promotion of LED products is also in line with the government’s commitment to reduce carbon intensity by about 40% by 2020,” Zulkarnin said.

He added that its target is to set up the production plant at its factory in Tangga Batu, Malacca.

Housing and Local Government Minister Zuraida Kamaruddin recently said that all roads nationwide will be lit with LED lamps, instead of the traditional light bulbs, in a move to save energy by as much as 50%. The plan will be rolled out in stages beginning September.

“We are glad to partner with KR Global, who has an established brand strength, supply of products that are highly efficient, dependable and with patent protection. This would create the base for Seacera to move to the next level. I believe with this collaboration, Seacera will probably play an important role in Malaysia’s LED component market,” Zulkarnin added.

According to McKinsey’s 2011 lighting market report, the estimated global revenues from the LED lighting market will grow at 30% per annum, amounting to almost 65 billion euros (RM227 billion) by 2020 – almost 60% of the overall lighting market.

Trading in Seacera’s shares was halted for an hour this morning pending the announcement. At 11.29am, Seacera was 2.5% lower at 19.5 sen with 1.58 million shares traded.

Source:TheSunDaily/http://bit.ly/2LNISim

 

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