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Elsoft jumps LED test equipment production

Posted: 08 Mar 2016 ?? ?Print Version ?Bookmark and Share

Keywords:LED? diode? test equipment?

Elsoft Research Bhd is looking at a production figure of 40 units of light-emitting diode (LED) test equipment in the first half of this year, noting a market value of $5.26 million. The LED test equipment will be delivered to clients in various sectors, including automotive, smart device and general lighting.

The 40 units, to be produced in Elsoft's 4347.39 square metre office and factory space in Penang, Malaysia, is a double-digit percentage growth over the volume of the previous year's corresponding period.

"The key sectors driving the growth are the automotive and smart device industries," he said. Tan added that for the smart device segment, the group was now developing LED test equipment to be used for checking the lighting functions of new smart devices scheduled for release in late 2016.

"For the automotive sector, we are making LED testers for the daytime running lights, new LED headlamps and rear-end signature lightings for branded cars. Our automotive customers are mainly based in Malaysia, China and Taiwan," he said.

On the group's medical equipment manufacturing business, Tan said Elsoft had secured orders from a local customer supplying to hospitals in the country. "We are making the embedded electronic control system for medical equipment," he said.

For the fiscal year that ended last Dec. 31, 2015, the group achieved a new record for its revenue and bottom line. It posted $6.84 million in net profit on the back of a $13.08 million revenue, compared with $5.26 million and $11.84 million respectively in 2014. The automotive industry would be a significant growth driver for the group, said Tan. According to a recent Grand View Research report, the automotive lighting market is expected to reach $34.65 billion by 2022 from $19.64 billion in 2014, growing at a compounded annual growth rate (CAGR) of 7.4 per cent.

"Growing safety concerns and stringent government regulations are expected to drive demand over the next seven years. Rising awareness among consumers regarding the importance of adaptive light solutions such as glare-free high beam and dynamic bend lights is also anticipated to fuel exterior lighting demand," it said.

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