PETALING JAYA: PIE Industrial Bhd
can expect higher contributions from new customers that will collectively account for 8% to 12% of total group revenue in financial year 2024 (FY24).
It is also believed to have secured a new sizeable artificial intelligence server client that will take up its entire plant six of about 280,000 sq ft – its largest facility.
Kenanga Research said PIE would be the new customer’s sole contract manufacturer outside of China. That prompted the research house to raise its FY25 earnings forecast by 10%.
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